Interim report
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Q326 REPORT FOR THE THIRD QUARTER 2026
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Q326 PAGE 2 THIRD QUARTER 2026 KOMPLETT ASA X Revenue of NOK 3 642 million, representing a YoY decline of 5.2 per cent (-1.7 per cent in constant currency), reflecting negative phasing and continued headwinds in gaming. X Gross profit of NOK 486 million (-5.4 per cent in constant currency) on the back of a margin decline of 0.6 pp, mainly due to challenges in components and gaming. X Cost reduction of NOK 36 million and a 0.2 pp improvement in the operating cost ratio YoY enabled by effective cost management and FX effects. X EBIT adj. of negative NOK 9 million, a decline of NOK 12 million year-over-year driven by headwinds and phasing of sales, partly offset by cost reductions. X Controlled inventory levels of NOK 1 967 million, reflecting a year-over-year reduction and continued inventory discipline. X Financial position remains controlled, with continued deleveraging, solid liquidity reserve of NOK 1 027 million, and improved visibility from renewed financing facility. X Actions in progress to mitigate market headwinds and support volumes and profitability, while advancing initiatives to unlock the group’s long-term potential. | HIGHLIGHTS REVENUE PER SEGMENT Distribution 20% B2B 13% B2C 67% REVENUE PER COUNTRY Denmark 1% Sweden 47% Norway 52% REVENUE PER CHANNEL In store shopping 25% Click andcollect 2% E-commerce 73% CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX
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Q326 PAGE 3 THIRD QUARTER 2026 KOMPLETT ASA Amounts in NOK million unless stated otherwise Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating revenue 3 642 3 842 10 617 10 643 15 775 Growth (%) (5.2%) 2.3% (0.2%) 2.1% 3.1% Gross profit ¹ 486 534 1 490 1 540 2 257 Gross margin (%) ¹ 13.3% 13.9% 14.0% 14.5% 14.3% Operating expenses (ex dep) (adj.) ¹ (398) (430) (1 212) (1 292) (1 804) Depreciation and amortisation (97) (101) (296) (306) (408) Total operating expenses (adj.) ¹ (495) (531) (1 508) (1 598) (2 212) Operating cost percentage ¹ (13.6%) (13.8%) (14.2%) (15.0%) (14.0%) EBIT (adj.) ¹ (9) 3 (18) (57) 44 EBIT margin (adj.) (%) ¹ (0.2%) 0.1% (0.2%) (0.5%) 0.3% One-off costs (12) (14) (23) (61) (62) Impairment - - - - (538) EBIT (20) (10) (41) (118) (556) Net financials (34) (43) (115) (127) (169) Profit before tax (54) (53) (156) (246) (725) Profit for the period (42) (43) (119) (195) (660) Investments (capex) 33 25 98 96 130 Net interest bearing debt ¹ 1 174 1 205 1 174 1 205 604 Operating free cash flow ¹ 38 184 (479) (230) 389 1) Alternative performance measures (APMs). | KEY FIGURES Q4Q3Q2Q1 OPERATING/uni00A0REVENUE NOK million ❚ 2025 ❚ 2026 3 3703 400 3 431 5 132 3 8423 575 3 642 Q4Q3Q2Q1 GROSS/uni00A0MARGIN Per cent ❚ 2025 ❚ 2026 15.0% 14.6% 13.9% 14.0% 14.7% 14.1% 13.3% Q4Q3Q2Q1 OPERATING/uni00A0COST Per cent ❚ 2025 ❚ 2026 15.5% 15.2% 13.8% 12.0% 16.1% 13.6% 13.6% Q4Q3Q2Q1 EBIT (adj.) NOK million ❚ 2025 ❚ 2026 -39 -26 -22 3 102 17 -9 CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX
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Q326 PAGE 4 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | CEO COMMENTS In the third quarter, the impact of elevated memory prices broadened beyond gaming-related categories, affecting both demand and product mix. While the broader consumer environment remained generally supportive, these market-specific headwinds continued to weigh on our core categories. In response, we actively pursued targeted sales initiatives, disciplined margin management and cost control. At the same time, we continued to advance our priorities for long-term competitiveness and profitability. Demand weakness resulting from memory pricing continued to weigh on components and gaming in the quarter. As previously antic - ipated, these effects extended beyond the ini - tially affected categories and are now impacting a broader range of related segments. At the same time, generally supportive market conditions, with healthy household finances across the Nor- dic region, continued to support overall con - sumer demand. Sales efforts in other categories, combined with continued cost and margin discipline, helped mitigate the headwinds affecting our core categories. However, sales were held back by adverse phasing effects following strong sea - sonal sales in the previous period. In sum, volume shortfalls and margin pressure in components, compounded by negative phasing effects, over- shadowed the progress in other categories and led to a year-over-year earnings decline. While gaming and adjacent categories remain affected by the prolonged memory-related envi - ronment, we continue to strengthen our posi - tion in this segment. Strong customer response to recent gaming launches demonstrates the attractiveness of the category and confirms healthy underlying demand for compelling new products. We continue to pursue near-term actions to support sales and profitability while advancing strategic initiatives aimed at unlock - ing the group’s long-term potential. Strong preparations for peak season Our most immediate priority is to execute a well-prepared peak season, supported by tar - geted campaign activities and active commercial management. The group is addressing catego - ry-specific headwinds by adapting and strength - ening our commercial proposition across both established and growth categories. In parallel, our private label offering is being expanded into a broader range of categories. The group’s efforts to drive sales are carefully balanced with contin- ued cost control and margin protection. Our approach to delivering a successful peak sea- son is closely aligned with our longer-term stra- tegic priorities. Looking into 2027 and beyond, we will reinforce and accelerate our actions to strengthen our position and performance. Building a stronger, more profitable group Our priorities going forward are centred on improving profitability by increasing our pace of execution, improving operational efficiency and maintaining a structurally lean cost base. At the same time, we continue to leverage our scale advantages, broad product offering and fast delivery capabilities. Alongside ongoing efforts to optimise assortment, pricing and sup- plier partnerships, we are building a stronger execution-oriented culture with clearer priori - ties, greater accountability and better alignment across the organisation. Komplett Group has some of the strongest brands in Nordic e-commerce. This year, Kom - plett.no celebrated its 30-year anniversary since introducing e-commerce to the Norwegian mar- ket in 1996. As pioneers in online retail, we will continue to shape the online electronics market as a leading player. I firmly believe that Komplett Group is one of the most exciting companies in Scandinavia today. Our brands retain high customer loyalty, our cost base is more competitive, and our organisation is aligned around a clear strategic agenda. While there is still work to be done, I am encouraged by the progress we are making and confident that the actions we are taking today will contribute to a stronger and more profitable group in the years ahead. Sincerely, Vebjørn Torsetnes, President & CEO
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Q326 PAGE 5 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | QUARTERLY SUMMARY Third quarter performance was impacted by ongoing memory-related market headwinds in core categories. In addition, sales during the summer months were affected by negative phasing effects, although the impact was partly mitigated by targeted sales initiatives. While the gross margin declined in affected categories, previous measures and ongoing cost discipline contributed to a further reduction in operating expenses. The group maintained a controlled financial position, with lower leverage year-over-year and a solid liquidity reserve. Ongoing increases in memory chip prices con - tinued to particularly influence purchasing behaviour and product mix in the gaming and components categories. Weaker demand in component-related categories more than offset positive revenue growth across other important categories, resulting in a revenue decline of 5.2 per cent in the quarter (-1.7 per cent in constant currency). The development was partly offset by sales growth in the B2B segment, while Distribu- tion delivered stable revenues. As in the first half-year, the components and gaming categories were also held back by a weaker product launch cycle than last year. Moreover, phasing of sales between June and July had an adverse impact on revenues in the third quarter, following unusually strong demand for seasonal products in the previous period. These effects were partly mitigated through assortment adjustments, improved offering, inventory positioning and margin management. While core categories were negatively affected by memory pricing, improving household finances and favourable macroeconomic con - ditions continued to support overall consumer spending and contributed to positive underlying demand across key markets. Supported by a still generally favourable Nordic consumer environ - ment, the group delivered revenue growth across important categories outside gaming. The gross margin declined by 0.6 percentage points to 13.3 per cent. The reduction was con - centrated in categories most exposed to higher memory costs, reflecting margin pressure partly driven by inventory imbalances and pricing behaviour across industry players. The margin was further influenced by product mix effects within the affected categories. The rest of the portfolio delivered broadly stable to positive margins, resulting in stable underlying margin development outside components and gaming. Cost and restructuring initiatives contributed to further reductions in operating expenses across the group, supported by disciplined cost man - agement and currency effects. Together, these factors more than offset the impact of inflation and growth investments, resulting in an operat - ing cost percentage of 13.6 per cent, down from 13.8 per cent in Q3-25. Cost discipline remains a key priority, and the company retains flexibility to implement further tactical measures if mar - ket conditions require it. EBIT adj. was negative NOK 9 million, compared with positive NOK 3 million in the corresponding period of 2025, as the reduction in gross profit more than offset the lower cost base. Continued emphasis on inventory composition and stock rotation resulted in a healthy inventory profile. Inventory levels remained well controlled, reflecting a reduction from the prior-year period, and a stable development from the previous quarter, despite selective inventory positioning and precautionary buying of components. Active inventory management contributed to improving net working capital levels. The group’s financial position remained con - trolled during the quarter. At the end of Sep - tember, the group’s leverage ratio (NIBD / LTM EBITDA, adjusted for certain exceptional items) was 2.4x, reflecting an improvement from 3.0x in the same period last year. Adjusted net inter - est-bearing debt remained well within the group’s financing framework, with available liquidity facilities providing continued financial flexibil - ity and ability to navigate an uncertain market environment. Following quarter-end, the group extended its revolving credit facility, provid - ing visibility through 2030, while allowing more headroom in the covenant trajectory for 2027. Komplett Group continues to actively adapt and strengthen the commercial proposition across both established and growth categories, sup - ported by select campaign activities through the coming peak season. Growth initiatives are carefully balanced with disciplined pricing, mar- gin and cost management to protect profitabil - ity. Supported by strong brands, high customer satisfaction and a scalable Nordic platform, the group is well positioned to navigate evolving mar- ket conditions and build a more efficient, profita- ble and resilient business for the future.
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Q326 PAGE 6 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX FINANCIAL REVIEW PROFIT AND LOSS Total operating revenues decreased by 5.2 per cent in the third quarter of 2026, from NOK 3 842 million to NOK 3 642 million (-1.7 per cent in constant currency). While the overall macroeconomic conditions remained generally supportive, the impact of higher memory prices extended into a broader set of categories related to components and gaming. In addition, sales were held back by weaker innovation cycles and negative phasing of sales following strong seasonal product sales across both the Norwegian and Swedish operations in the previous quarter. Cost of goods sold was NOK 3 156 million in the third quarter, representing a 4.6 per cent decrease from NOK 3 308 million in the same period last year (-1.1 per cent in constant currency) on the back of lower sales. The group continues to focus on negotiating improved commercial terms while managing temporary impacts from higher freight costs and the pass-through of memory- driven price increases. Gross profit was NOK 486 million in the third quarter, representing a decline of 9.0 per cent from NOK 534 million last year (-5.4 per cent in constant currency). The gross margin reached 13.3 per cent, reflecting a 0.6 pp decline from 13.9 per cent in the third quarter of 2025. The year-over-year development was impacted by margin pressure in the components and gaming categories, as well as changes in product and segment mix. Operating expenses (excluding one-off costs, depreciation and amortisation) totalled NOK 398 million in the third quarter, representing a decrease of NOK 32 million from NOK 430 million in the same period of 2025 (-3.2 per cent in constant currency). Favourable currency translation effects complemented cost reduction measures as well as continued disciplined cost management as drivers of the cost decline. Depreciation and amortisation accounted for NOK 97 million in the third quarter, of which NOK 12 million were related to the amortisation of acquired customer value as part of the earlier NetOnNet transaction. In the same period last year, depreciation and amortisation expenses totalled NOK 101 million. The year-over-year reduction mainly reflects lower depreciations on right of use assets. EBIT adj. amounted to negative NOK 9 million in the third quarter of 2026, representing a reduc - tion of NOK 12 million compared with NOK 3 million in the same period of 2025. The decline was pri - marily driven by headwinds and negative phasing of sales, which more than offset improvements in other categories and the impact from reduced operating expenses. This resulted in an EBIT adj. margin of negative 0.2 per cent in the third quar- ter, representing a reduction from 0.1 per cent in the same quarter of last year. One-off costs totalled NOK 12 million in the quarter, reflecting severance and other related expenses. This compares with NOK 14 million in the third quarter of 2025, which mainly related to restructuring initiatives and warehouse consoli - dation in Sweden. The operating result (EBIT) for the third quar - ter amounted to negative NOK 20 million, com - pared with a loss of NOK 10 million in the same period of 2025. Net financial expenses in the third quarter totalled NOK 34 million, compared with NOK 43 million in the same period last year. Interest on the group’s credit facilities was the main com - ponent of the financial expenses, and the year- over-year decrease is primarily due to currency movements and periodic effects. Tax income for the period was NOK 13 million, compared with a tax income of NOK 11 mil - lion in the same period last year. The change in tax income primarily reflects developments in underlying performance in the period. Profit for the period ended at negative NOK 42 million, compared with a loss of NOK 43 million in the same period last year.
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Q326 PAGE 7 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX FINANCIAL POSITION Non-current assets amounted to NOK 3 148 million at the end of the third quarter of 2026, compared with NOK 3 923 million at the end of September 2025. The year-over-year decline is primarily due to the goodwill impairments of NOK 534 million which were made in the fourth quar - ter 2025, related to the Swedish operations. The decline was further driven by reductions in other intangible assets of NOK 182 million, with an addi- tional impact from currency translation effects. Current assets amounted to NOK 2 831 million at the end of the third quarter, compared with NOK 3 148 million in the same period last year. Inventories were NOK 1 967 million at the end of September, representing a reduction of NOK 55 million from NOK 2 022 million one year earlier. The inventory position remains controlled, while the stockholding still reflects some precaution - ary buying of components. A total of NOK 356 million of receivables have been sold under the factoring agreement in the quarter, which are not included in the balance sheet. Cash and bank deposits totalled NOK 127 million at the end of the quarter, compared with NOK 269 million at the end of September last year. Equity amounted to NOK 1 679 million at the end of the third quarter of 2026, compared with NOK 2 465 million in the same period last year. The difference is mainly attributed to the impact from changes in other equity stemming from the impairment charges made in the fourth quarter last year, as well as currency movements. This yields an equity ratio of 28.1 per cent at the end of the third quarter, compared with 34.9 per cent at the end of September 2025. Total liabilities amounted to NOK 4 300 million at the end of the third quarter of 2026, compared with NOK 4 607 million at the end of the third quarter of 2025. Trade payables totalled NOK 1 892 million, representing an increase of NOK 73 million from the prior-year period, mainly driven by phasing of purchases and deliveries. Since the second quarter of 2023, the Swedish subsidiaries have partly utilised the extension of the Swedish tax deferred payment rules. After repayment of NOK 36 million during the third quarter, the total outstanding amount at end of September 2026 was NOK 140 million, which is included in other current liabilities as the full amount matures in less than 12 months. Total equity and liabilities amounted to NOK 5 979 million at the end of the third quarter, com- pared with NOK 7 072 million in the same period last year. LIQUIDITY The group’s total credit facilities include a revolv- ing credit facility in the amount of NOK 1 300 mil- lion and an overdraft facility in the amount of NOK 400 million. At 30 September 2026, NOK 800 mil- lion of the revolving credit facility was utilised. Including available cash of NOK 127 million, the liquidity reserve was NOK 1 027 million at the end of the third quarter, compared with NOK 1 169 mil- lion one year earlier. Following quarter-end, the group renewed its revolving credit facility for two years, with an option to extend the facility by a further year, through to 2030. Apart from certain amend - ments, including increased headroom in the cov- enant trajectory for 2027, the extension does not entail any material changes to the terms and conditions of the facility. Further details on the credit facilities may be found in note 8 to the financial statements. NET INTEREST-BEARING DEBT Net interest-bearing debt at 30 September was NOK 673 million, excluding IFRS 16, and NOK 1 174 million including IFRS 16 liabilities, representing a decrease from last year’s levels of NOK 686 million and NOK 1 205 million, respectively. The development reflects reduced liabilities related to the Swedish tax deferral scheme. For further details, reference is made to the group’s alter - native performance measures in the appendix to this report. The group further strengthened its leverage ratio, defined as NIBD / LTM EBITDA (adjusted for certain exceptional items), which reached 2.4x at the close of the third quarter of 2026, com - pared with 3.0x at the end of September 2025. The group’s leverage ratio is well in line with the underlying covenant trajectory, which is 3.0x for ordinary quarters and 3.5x for Q1.
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Q326 PAGE 8 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX CASH FLOW Operating activities generated a net cash flow of NOK 127 million in the third quarter, compared with NOK 267 million in the same period last year, mainly reflecting the phasing of working capi - tal changes. Hence, operating cash flow in the quarter was positively affected by an increase in trade payables of NOK 150 million, countered by an increase in accounts receivable of NOK 86 million and an increase in inventories of NOK 21 million. In the same period last year, operating cash flow was positively affected by a reduction in inventories of NOK 147 million and a decrease in accounts receivable of NOK 21 million, countered by a decrease in trade payables of NOK 85 million. Cash flow used in investing activities was NOK 33 million. This was invested in property, plant and equipment for IT infrastructure, of which the majority was used for upgrades to the IT sys - tems. The comparable figure from last year was NOK 25 million. Cash flow used in financing activities amounted to NOK 120 million, compared with NOK 141 mil - lion in the same period last year. This included a repayment of NOK 36 million under the Swedish tax deferral scheme. The cash outflow consists of net movements within the group’s existing financing facilities, principal and interest pay - ments on lease liabilities, as well as interest paid on loans and overdrafts.
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Q326 PAGE 9 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | SUSTAINABILITY During the third quarter of 2026, Komplett Group has continued to strengthen sustain - ability reporting and governance processes. The double materiality assessment and result - ing disclosure list have been finalised, while the data infrastructure supporting CSRD report - ing has been further strengthened ahead of the reporting cycle for 2026. Pilot testing of selected controls under the Internal Control on Sustainability Reporting (ICSR) framework has commenced. In parallel, the group has contin - ued to advance circularity initiatives and pre - pare for upcoming regulatory requirements. | CORPORATE EVENTS On 21 August 2026, Komplett ASA commenced a share buy-back programme to acquire up to 2 000 000 shares for a maximum aggregate con- sideration of NOK 18 million, following the author- isation granted by the annual general meeting on 6 May 2026. The sole purpose of the buy-back programme is to facilitate the future exercise of options under the company’s long-term incentive programme. Any shares acquired by the company will be held in treasury until used for the aforementioned purpose. The programme will continue until the maxi - mum number of shares as set out above has been acquired or 31 December 2026 at the latest.
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Q326 PAGE 10 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | RISKS AND UNCERTAINTIES Komplett Group is subject to several risks, inclu- ding market and competition risks, operational and financial risks, such as currency, interest, credit, and liquidity risks, as well as IT security risks. The board and executive management are continuously monitoring the group’s risk exposure, and the group strives to take an active approach to risk management and internal con- trol processes. Below is a summary of the key risks for the group over the coming period. There is a risk that consumer sentiment and spending expectations decrease due to macro- economic uncertainty, which in turn may impact demand for capital intensive goods, such as ele- ctronics. Market headwinds and unpredictability may lead to inventory build-up, resulting in incre- ased price pressure in the market. Temporary fluctuations in the long-term growth trajectory of online retail trade may impact the group’s per- formance in the short term. The group operates in an intensely competitive industry, and entry of new market players or changes in the market dynamics may impact its competitive position. Geopolitical risk has risen following the outbreak of wars, political unrest, and trade sanctions, and global uncertainty related to trade wars and tariffs has increased. Risks from regulatory changes, trade barriers, tariffs, and restrictive government actions could impact the group’s operations and results. The group is monitoring the situation closely and maintains a close dialogue with suppliers. Constraints in the supply of memory chips dri - ven by unusually strong demand from data cen- tres and AI applications represent an additional source of uncertainty and may significantly affect availability, pricing and demand in several consumer electronics categories. The group has implemented initial mitigating actions and con- tinues to actively monitor the situation closely. Due to its online first business model, Komplett Group is less exposed to cost inflation than many of its peers, but its cost base is nevertheless subject to market inflation and currency effects. As the group operates online, it is vulnerable to hacking and cybercrimes on critical applications and its websites. Although the group has sys - tems in place to identify and block external atta- cks, the group will likely be subject to new and smarter attempts at unauthorised access that expose a risk to the business. The group’s balance sheet carries intangible assets, including goodwill, which are subject to risk of impairment and other factors that may contribute to a loss in value. The impairment charges executed in 2023 and in 2025 signifi - cantly reduced this balance sheet risk, but the carried amounts remain subject to a demonstra- ted improvement and normalisation of the future performance in the Swedish entities. Risks and uncertainties must be considered when looking at the outlook comments below. Reference is made to note 4 to the company’s Annual and Sustainability Report for 2025 for additional explanations regarding risks and uncertainties.
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Q326 PAGE 11 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | SUMMARY AND OUTLOOK Performance in the third quarter was charac - terised by broadening impact from memory pri- cing as weaker demand in component-related categories more than offset positive revenue growth across consumer electronics, telecom and home categories. Amid the ongoing market headwinds, especially in computing and gaming categories, the overall consumer environ - ment remains positive with supportive macro- economic forecasts. The year-over-year decline in gross profit was mainly driven by the volume shortfall and nega- tive currency effects. The group-wide gross margin declined due to margin pressure in the components-related categories, while under - lying product margins in other parts of the port- folio remained relatively stable. Sustained cost discipline and benefits from restructuring measures led to further reducti - ons in operating expenses and continued impro- vement in operating leverage in the quarter. The positive development reflects continued pro - gress within the Swedish operations, combined with ongoing optimisation of logistics, support functions and commercial processes. Overall, weaker volumes and margin pressure in components, combined with negative phasing effects, more than offset positive develop - ments elsewhere in the business, resulting in a year-over-year decline in quarterly earnings. Looking ahead, the group’s most immediate priority is a successful execution of a well-pre- pared peak season, supported by targeted cam- paign activities, active category management and continued efforts to strengthen the custo- mer proposition. The group also continues to expand its private label assortment into a bro - ader range of categories, supporting differen - tiation and long-term margin potential. These initiatives are carefully balanced with discipli - ned pricing, margin management and cost con- trol to protect profitability. Elevated memory prices remain a key source of uncertainty, affecting availability, pricing, demand patterns and purchasing behaviour across parts of the electronics market. At the same time, the broader Nordic consumer environment remains generally supportive, underpinned by healthy household finances and resilient consumer demand. However, regional differences persist, with conditions in Norway expected to remain more subdued into 2027, while Sweden continues to show encouraging momentum. Following quarter-end, the group renewed its revolving credit facility for two years, with an option to extend the facility by a further year to 2030. The extension provides increased financing visibility and temporary additional covenant headroom through Q3 2027. Beyond the peak season, Komplett Group con - tinues to focus on improving profitability and strengthening its competitive position. Key pri- orities include increasing the pace of execution, addressing operational inefficiencies and main - taining a structurally lean cost base, alongside continued optimisation of assortment, pricing and supplier partnerships. These efforts build on the group’s strong brands, loyal customer base, leading logistics capabilities and scala - ble Nordic platform.
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Q326 PAGE 12 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | BUSINESS TO CONSUMER (B2C) X Cost discipline amid market headwinds REVENUE Operating revenue for the B2C segment was NOK 2 440 million, representing a 9.2 per cent decrease from NOK 2 686 million in the same period in 2025 (-4.6 per cent in constant cur - rency). In local currency, revenue declined by 8.8 per cent in Norway, 1.6 per cent in Sweden and 24.4 per cent in Denmark. The Danish operations repre - sented approximately 1.8 per cent of the B2C rev- enue in the third quarter. Pricing of memory and storage components con- tinued to constrain demand growth in compo - nents and gaming-related categories, especially affecting operations in Norway. In addition, sales were held back by a weaker product innovation cycle, although recent gaming launches such as GTA and Zelda stimulated demand and demon - strated the continued importance of new prod - uct releases. Volume shortfalls in components and gaming- related categories were partly offset by increased sales across consumer electronics, telecom and home categories, although product availability was constrained in certain catego - ries. Sales were further supported by an expand- ing private label portfolio. Ongoing assortment optimisation, contin - ued enhancement of the customer proposition and strong execution in growth categories are expected to contribute to a more resilient and diversified revenue mix over time. GROSS PROFIT Gross profit for the B2C segment amounted to NOK 373 million, compared with NOK 429 mil - lion in the same quarter in 2025. The gross mar - gin was 15.3 per cent, representing a reduction from 16.0 per cent in the same quarter of 2025, reflecting margin pressure in the components and gaming categories, as well as selective tac - tical price-volume rebalancing. OPERATING EXPENSES Operating expenses were NOK 379 million in the third quarter, representing a significant cost reduction from NOK 422 million in the same period in 2025. The improvement resulted from disciplined cost management and effects from implemented cost measures, as well as currency translation effects, which more than offset infla- tion and impact from growth investments. This resulted in an operating cost percentage of 15.6 per cent, reflecting a relatively stable devel- opment from 15.7 per cent in the same quarter of last year. EBIT EBIT amounted to negative NOK 7 million, down from NOK 7 million in the same period of 2025. The development was mainly driven by lower gross profit, partly offset by significant reduc - tions in operating expenses. As a result, the EBIT margin came in at negative 0.3 per cent, com - pared with a positive margin of 0.3 per cent in 2025. | SEGMENT REVIEW
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Q326 PAGE 13 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX Q4Q3Q2Q1 OPERATING/uni00A0REVENUE NOK million ❚ 2025 ❚ 2026 2 350 2 509 2 686 3 896 2 343 2 557 2 440 Q4Q3Q2Q1 GROSS/uni00A0MARGIN Per cent ❚ 2025 ❚ 2026 17.1% 16.2% 16.0% 15.2% 16.3% 15.8% 15.3% Q4Q3Q2Q1 OPERATING/uni00A0COST Per cent ❚ 2025 ❚ 2026 18.1% 17.5% 16.9% 15.7% 12.6% 15.2% 15.6% Q4Q3Q2Q1 EBIT NOK million ❚ 2025 ❚ 2026 -25 -28 99 7-19 14 -7 B2C – KEY FIGURES Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating revenue 2 440 2 686 7 346 7 539 11 435 Growth (%) (9.2%) 5.6% (2.6%) 4.7% 5.1% Gross profit ¹ 373 429 1 159 1 235 1 826 Gross margin (%) ¹ 15.3% 16.0% 15.8% 16.4% 16.0% Operating expenses (ex. dep) (353) (394) (1 099) (1 192) (1 657) Depreciation and amortisation (27) (28) (81) (80) (108) Total operating expenses (adj.) ¹ (379) (422) (1 180) (1 272) (1 765) Operating cost percentage ¹ (15.6%) (15.7%) (16.1%) (16.9%) (15.4%) EBIT (7) 7 (21) (37) 62 EBIT margin (%) ¹ (0.3%) 0.3% (0.3%) (0.5%) 0.5% 1) Alternative performance measure (APMs).
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Q326 PAGE 14 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | BUSINESS TO BUSINESS (B2B) X Sales and profit improvement REVENUE Operating revenue for the B2B segment in the third quarter amounted to NOK 478 million, com- pared with NOK 436 million for the same period in 2025, representing an increase of 9.7 per cent (+10.5 per cent in constant currency). Operations in Norway, representing the large majority of the B2B revenues, had a revenue growth of 11.2 per cent, while the Swedish busi - ness, representing ~8.2 per cent of B2B rev - enues, had an increase of 3.1 per cent in local currency. The revenue development reflected stable underlying demand supported by increased sales of educational PCs in the Norwegian mar - ket. Revenue growth was further supported by new IT service agreements. While the long-term demand outlook remains supported by the need for increasingly powerful PCs, elevated memory prices continue to create uncertainty in the B2B market, affecting availa - bility, pricing and customer purchasing decisions in the near term. GROSS PROFIT Gross profit was NOK 75 million in the third quar- ter, reflecting an improvement of NOK 8 million compared with NOK 67 million in the same quar- ter of 2025. The gross margin came in at 15.7 per cent, com - pared with 15.4 per cent in the prior year. Margin progress in the quarter was driven by positive results from margin and campaign management supported by product and service mix effects. OPERATING EXPENSES Operating expenses were NOK 50 million in the third quarter, compared with NOK 44 million in the same quarter in 2025, reflecting increased sales activities and scaling up IT service capac - ity to meet requirements of new customer con - tracts. Measured as a percentage of revenue, operat - ing expenses totalled 10.4 per cent in the quar - ter, representing a slight increase from 10.1 per cent in the same quarter in 2025. EBIT EBIT for the third quarter was NOK 25 million, an increase of NOK 2 million compared with NOK 23 million in the third quarter of 2025. The EBIT uplift was driven by gross profit improvements. This gave an EBIT margin for the quarter of 5.3 per cent, compared with 5.2 per cent in the same quarter of last year.
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Q326 PAGE 15 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX B2B – KEY FIGURES Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating revenue 478 436 1 216 1 130 1 542 Growth (%) 9.7% 4.5% 7.5% 3.0% 1.5% Gross profit ¹ 75 67 222 195 273 Gross margin (%) ¹ 15.7% 15.4% 18.3% 17.3% 17.7% Operating expenses (ex. dep) (46) (40) (126) (118) (164) Depreciation and amortisation (4) (4) (12) (12) (16) Total operating expenses (adj.) ¹ (50) (44) (139) (130) (181) Operating cost percentage ¹ (10.4%) (10.1%) (11.4%) (11.5%) (11.7%) EBIT 25 23 84 65 93 EBIT margin (%) ¹ 5.3% 5.2% 6.9% 5.8% 6.0% 1) Alternative performance measure (APMs). Q4Q3Q2Q1 OPERATING/uni00A0REVENUE NOK million ❚ 2025 ❚ 2026 387 329 436 412 366 351 478 Q4Q3Q2Q1 GROSS/uni00A0MARGIN Per cent ❚ 2025 ❚ 2026 20.4% 18.7% 15.4% 18.9%18.3% 19.5% 15.7% Q4Q3Q2Q1 OPERATING/uni00A0COST Per cent ❚ 2025 ❚ 2026 13.0% 11.8% 10.1% 12.2%12.4% 11.6% 10.4% Q4Q3Q2Q1 EBIT NOK million ❚ 2025 ❚ 2026 31 23 23 28 19 28 25
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Q326 PAGE 16 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | DISTRIBUTION X Steady progress REVENUE Revenue for the Distribution segment amounted to NOK 725 million in the third quarter, compared with NOK 720 million in the same period in 2025, representing an increase of 0.7 per cent (+1.1 per cent in constant currency). In local currency, the operations in Norway had a relatively stable revenue development of -0.1 per cent, while Sweden, representing ~6.1 per cent of revenues from Distribution, had a 23.9 per cent revenue growth. The year-over-year revenue development in Nor- way was supported by increased demand from large accounts, which had the opposite impact in the comparable prior-year period. GROSS PROFIT Gross profit was NOK 38 million in the third quar- ter, reflecting a stable development from NOK 38 million in the same quarter of 2025. The gross margin was 5.3 per cent, on par with 5.3 per cent in the prior-year period. The stable gross margin reflects sales mix and increased sales to large accounts. OPERATING EXPENSES Operating expenses totalled NOK 29 million in the third quarter of 2026, compared with NOK 31 mil- lion the same period in 2025. The reduction was a result of ongoing cost discipline offsetting the impact from inflation. Measured as a percentage of revenue, the operating expenses were 4.0 per cent in the third quarter, down from 4.3 per cent in the same period last year. EBIT The EBIT result for the quarter was NOK 10 mil - lion, reflecting an improvement of NOK 2 million from NOK 8 million in the third quarter of 2025, resulting from a positive development in operat - ing expenses combined with a stable gross profit. This gave an EBIT margin of 1.3 per cent, up from 1.1 per cent for the same period in 2025.
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Q326 PAGE 17 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX Q4Q3Q2Q1 OPERATING/uni00A0REVENUE NOK million ❚ 2025 ❚ 2026 660 664 593 720 824 667 725 Q4Q3Q2Q1 GROSS/uni00A0MARGIN Per cent ❚ 2025 ❚ 2026 5.8% 5.3% 5.8% 5.6%5.7% 4.9% 5.3% Q4Q3Q2Q1 OPERATING/uni00A0COST Per cent ❚ 2025 ❚ 2026 4.8% 4.5% 4.3% 4.0% 4.5% 3.7% 4.0% Q4Q3Q2Q1 EBIT NOK million ❚ 2025 ❚ 2026 7 8 8 14 6 8 10 DISTRIBUTION – KEY FIGURES Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating revenue 725 720 2 056 1 973 2 798 Growth (%) 0.7% (9.5%) 4.2% (7.0%) (3.8%) Gross profit ¹ 38 38 109 110 158 Gross margin (%) ¹ 5.3% 5.3% 5.3% 5.6% 5.6% Operating expenses (ex. dep) (25) (27) (73) (78) (108) Depreciation and amortisation (4) (3) (11) (11) (14) Total operating expenses (adj.) ¹ (29) (31) (83) (89) (122) Operating cost percentage ¹ (4.0%) (4.3%) (4.1%) (4.5%) (4.4%) EBIT 10 8 25 21 35 EBIT margin (%) ¹ 1.3% 1.1% 1.2% 1.1% 1.3% 1) Alternative performance measure (APMs).
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Q326 PAGE 18 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | OTHER & IFRS 16 “Other” represents group costs not allocated to the operating segments: B2C, B2B and Distribution. This applies when costs are difficult to allocate fairly between the segments. Typical cost elements under this segment include management costs and group strategic initiatives. The different effects of IFRS (International Financial Reporting Standards), especially IFRS 16, are not part of the operational measures and are excluded from the operating segments. For additional explanation, please refer to note 3 – Segment Information in this report. OPERATING EXPENSES Operating expenses, including depreciation and amortisation but excluding one-off costs, amounted to NOK 37 million in the third quarter, compared with NOK 34 million in the same period last year. Employee benefit expenses totalled NOK 31 mil- lion and other operating expenses NOK 10 million, of which NOK 12 million, primarily employee ben- efit expenses, were recognised as one-off costs during the quarter. The costs were affected by project and phasing related items in the period. In accordance with IFRS 16, lease expenses of NOK 56 million are reclassified from operating expenses to depreciation and interest expenses. As the reclassified amount exceeds the under - lying cost base, operating expenses excluding depreciation and one-off costs amounted to a net positive NOK 26 million, compared with NOK 32 million in the third quarter of 2025. Depreciation and amortisation totalled NOK 62 million, comprising NOK 12 million of amortisa - tion on acquired customer relationships from the NetOnNet acquisition and NOK 50 million relating to IFRS 16 lease accounting. This compares with NOK 66 million in the pri - or-year period. EBIT EBIT adj. was negative NOK 37 million, compared with negative NOK 34 million in the third quarter of 2025. One-off costs amounted to NOK 12 mil - lion during the quarter. This resulted in an EBIT of negative NOK 48 million, on par with negative NOK 48 million in the prior-year period. NET FINANCIALS Net financial expenses were NOK 34 million, com- pared with NOK 43 million in the third quarter of 2025. The reduction reflects periodic effects on interest cost as well as currency movements. Interest on the group’s debt facilities remained the principal component of the financial expenses. OTHER & IFRS 16 – KEY FIGURES Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Operating revenue 0 0 0 1 0 Gross profit ¹ 0 0 0 0 (1) Operating expenses (ex. dep) 26 32 87 96 125 Depreciation and amortisation (62) (66) (192) (202) (270) Total operating expenses (adj.) ¹ (37) (34) (105) (106) (145) EBIT (adj.)¹ (37) (34) (105) (106) (145) One-off costs (12) (14) (23) (61) (62) Impairment - - - - (538) EBIT (48) (48) (129) (167) (745) Net financials (34) (43) (115) (127) (169) Profit before tax (82) (91) (244) (294) (915) 1) Alternative performance measure (APMs).
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Q326 PAGE 19 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | FINANCIAL STATEMENTS AND NOTES | CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME Unaudited for the period ended 30 September 2026 Amounts in NOK million Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Unaudited Unaudited Unaudited Unaudited Audited Total operating revenue 3, 4 3 642 3 842 10 617 10 643 15 775 Cost of goods sold (3 156) (3 308) (9 127) (9 102) (13 518) Employee benefit expenses (254) (274) (740) (803) (1 094) Depreciation and amortisation expense 5, 6 (97) (101) (296) (308) (408) Impairment - - - - (538) Other operating expenses 5 (156) (170) (495) (547) (772) Total operating expenses (3 662) (3 852) (10 658) (10 761) (16 330) Operating result (EBIT) (20) (10) (41) (118) (556) Net finance income and expenses 5 (34) (43) (115) (127) (169) PROFIT BEFORE TAX (54) (53) (156) (246) (725) Tax expense 13 11 37 50 65 PROFIT FOR THE PERIOD (42) (43) (119) (195) (660) OTHER COMPREHENSIVE INCOME Items that will or may be reclassified to profit or loss: Foreign currency rate changes (114) (3) (267) 81 141 TOTAL COMPREHENSIVE INCOME (155) (46) (386) (115) (518) Earnings per share (basic and diluted) 7 (0.24) (0.24) (0.68) (1.11) (3.76)
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Q326 PAGE 20 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION Unaudited for the period ended 30 September 2026 Amounts in NOK million Note 30.09.2026 30.09.2025 31.12.2025 ASSETS Unaudited Unaudited Audited Non-current assets Goodwill 6 799 1 382 856 Software 6 309 342 337 Other intangible assets 6 1 264 1 446 1 478 Total intangible assets 2 372 3 170 2 671 Right of use assets 5, 6 499 515 491 Machinery and fixtures 6 139 136 145 Total property, plant and equipment 638 650 636 Deferred tax asset 121 86 107 Investments in equity-accounted associates 10 8 8 Other receivables 7 9 8 Total other non-current assets 138 103 123 Total non-current assets 3 148 3 923 3 430 Current assets Inventories 1 967 2 022 2 297 Trade receivables - regular 265 189 176 Trade receivable from deferred payment arrangements 14 21 21 Other current receivables 458 646 921 Cash and bank deposits 127 269 814 Total current assets 2 831 3 148 4 228 TOTAL ASSETS 5 979 7 072 7 659
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Q326 PAGE 21 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION Unaudited for the period ended 30 September 2026 Amounts in NOK million Note 30.09.2026 30.09.2025 31.12.2025 EQUITY Unaudited Unaudited Audited Share capital 70 70 70 Share premium 3 741 3 741 3 741 Other equity (2 132) (1 346) (1 748) TOTAL EQUITY 1 679 2 465 2 063 LIABILITIES Non-current liabilities Deferred tax 207 252 261 Other obligations 53 56 52 Long-term loans 8 800 800 800 Non-current lease liabilities 5 326 318 304 Other non-current liabilities - 155 120 Total non-current liabilities 1 386 1 579 1 537 Current liabilities Short-term loans 8 - - - Trade payables 1 892 1 818 2 661 Public duties payable 362 407 551 Current income tax - - 2 Current lease liabilities 5 175 202 194 Other current liabilities 486 599 650 Total current liabilities 2 914 3 027 4 058 TOTAL LIABILITIES 4 300 4 607 5 596 TOTAL EQUITY AND LIABILITIES 5 979 7 072 7 659
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Q326 PAGE 22 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS Unaudited for the period ended 30 September 2026 Amounts in NOK million Note Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Cash flows from operating activities Unaudited Unaudited Unaudited Unaudited Audited Profit before income tax (54) (53) (156) (246) (725) Income taxes paid (3) - (6) (8) (9) Depreciation and amortisation expense 6 97 101 296 308 408 Impairment - - - - 538 Net finance items 5 34 43 115 128 169 Changes in inventories, trade payables and trade receivables 26 91 (567) (257) 324 Other changes in accruals 28 86 108 118 51 Net cash flows from operating activities 127 267 (210) 44 757 Investing activities Investments in property, plant and equipment and intangible assets 6 (33) (25) (98) (96) (130) Dividend from associated company - - 1 2 2 Net cash used in investing activities (33) (25) (97) (94) (129) Financing activities Proceeds from loans and borrowings - - 650 - - Repayment of loans and borrowings (36) (45) (761) (116) (154) Changes in bank overdrafts - - - - - Principal and interest paid on lease liabilities 5 (56) (58) (170) (178) (238) Net interest paid on loans and overdrafts (28) (38) (98) (112) (148) Net cash used in financing activities (120) (141) (380) (407) (540) Net (decrease)/increase in cash and bank deposits (26) 101 (688) (457) 88 Cash and bank deposits at beginning of period 153 168 814 726 726 Cash and bank deposits at end of period 127 269 127 269 814
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Q326 PAGE 23 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY Unaudited for the period ended 30 September 2026 Amounts in NOK million Share capital Treasury shares¹ Share premium Other equity Total equity At 1 January 2025 70 - 3 741 (1 231) 2 581 Profit for the period - - - (195) (195) Other comprehensive Income - - - 81 81 Total comprehensive Income for the period - - - (115) (115) Long-term incentive program - - - (2) (2) Contributions by and distributions to owners - - - (2) (2) At 30 September 2025 70 - 3 741 (1 346) 2 465 At 1 January 2026 70 - 3 741 (1 748) 2 063 Profit for the period - - - (119) (119) Other comprehensive Income - - - (267) (267) Total comprehensive Income for the period - - - (386) (386) Treasury shares - 0 - (3) (3) Long-term incentive program - - - 4 4 Contributions by and distributions to owners - 0 - 1 1 At 30 September 2026 70 0 3 741 (2 132) 1 679 1) Number of shares purchased as of 30. September 2026 with (total) nominal value. See note 7- Earnings per share.
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Q326 PAGE 24 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX | NOTES DISCLOSURE TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS Unaudited for the period ended 30 September 2026 NOTE 01 GENERAL INFORMATION AND BASIS FOR PREPARATION Komplett ASA and its subsidiaries (collectively, the Group) operational activities are related to the sale of consumer and business electronics in Norway, Sweden and Denmark, to consumers, corporates and resellers. All amounts in the interim financial statements are presented in NOK million unless otherwise stated. These condensed interim financial statements have not been audited. The group’s condensed interim financial statements are prepared according to IAS 34 Interim Financial Reporting. The interim reporting does not include all information that is normally prepared in a full annual financial statement and should be read in conjunction with the group’s consolidated financial statement for the year ended 31 December 2025 (www.komplettgroup.com/investor- relations/financial-information/annual-reports/). The accounting policies used in the group’s interim reporting are consistent with the principles presented in the approved consolidated financial statement for 2025. There are no significant effects from the adoption of new standards effective as of 1 January 2026. The group has not voluntarily adopted any other standard that has been issued but is not yet mandatory. NOTE 02 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS The preparation of interim condensed financial statements requires management to make estimates and judgements that impact how accounting policies are applied and the reported amounts for assets, liabilities, income and expenses. Actual results may differ from these estimates. The accounting estimates and judgements are consistent with those in the consolidated financial statements for 2025.
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Q326 PAGE 25 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX NOTE 03 SEGMENT INFORMATION Q3 2026 Amounts in NOK million B2C B2B Distri - bution Other IFRS 16 Total Total operating revenue 2 440 478 725 0 - 3 642 Cost of goods sold (2 067) (403) (686) 0 - (3 156) Employee benefit expenses (183) (26) (14) (31) - (254) Depreciation and amortisation expense (27) (4) (4) (12) (50) (97) Other operating expenses (170) (20) (11) (10) 56 (156) Total operating expenses (2 446) (453) (715) (54) 6 (3 662) Operating result (EBIT) (7) 25 10 (54) 6 (20) Net finance income and expenses - - - (28) (6) (34) Profit before tax (7) 25 10 (82) (1) (54) YTD 2026 Amounts in NOK million B2C B2B Distri - bution Other IFRS 16 Total Total operating revenue 7 346 1 216 2 056 0 0 10 617 Cost of goods sold (6 187) (993) (1 947) 0 - (9 127) Employee benefit expenses (554) (69) (39) (78) - (740) Depreciation and amortisation expense (81) (12) (11) (39) (153) (296) Other operating expenses (545) (57) (34) (30) 171 (495) Total operating expenses (7 367) (1 132) (2 031) (146) 17 (10 658) Operating result (EBIT) (21) 84 25 (146) 17 (41) Net finance income and expenses - - - (96) (19) (115) Profit before tax (21) 84 25 (242) (2) (156) Q3 2025 Amounts in NOK million B2C B2B Distri - bution Other IFRS 16 Total Total operating revenue 2 686 436 720 (0) (0) 3 842 Cost of goods sold (2 257) (369) (681) 0 - (3 308) Employee benefit expenses (206) (22) (15) (32) - (274) Depreciation and amortisation expense (28) (4) (3) (14) (52) (101) Other operating expenses (189) (18) (12) (8) 57 (170) Total operating expenses (2 679) (413) (712) (53) 5 (3 852) Operating result (EBIT) 7 23 8 (53) 5 (10) Net finance income and expenses - - - (38) (5) (43) Profit before tax 7 23 8 (91) (0) (53) YTD 2025 Amounts in NOK million B2C B2B Distri - bution Other IFRS 16 Total Total operating revenue 7 539 1 130 1 973 1 0 10 643 Cost of goods sold (6 304) (935) (1 863) (1) - (9 102) Employee benefit expenses (596) (62) (42) (105) - (803) Depreciation and amortisation expense (80) (12) (11) (41) (164) (308) Other operating expenses (596) (56) (37) (37) 180 (547) Total operating expenses (7 576) (1 065) (1 952) (183) 16 (10 761) Operating result (EBIT) (37) 65 21 (183) 16 (118) Net finance income and expenses - - - (111) (16) (127) Profit before tax (37) 65 21 (294) (0) (246)
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Q326 PAGE 26 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX NOTE 04 REVENUES FROM CONTRACTS WITH CUSTOMERS Disaggregation based on type of customers Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Sale to consumers (B2C) 2 440 2 686 7 346 7 539 11 435 Sale to corporates (B2B) 478 436 1 216 1 130 1 542 Sale to resellers (Distribution) 725 720 2 056 1 973 2 798 Other 0 0 0 1 0 Total 3 642 3 842 10 617 10 643 15 775 Revenues based on geographic location of customers Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Norway 1 897 1 938 5 303 5 274 7 557 Sweden 1 700 1 841 5 154 5 189 7 940 Denmark 45 64 161 180 279 Total 3 642 3 842 10 617 10 643 15 775 Revenues by product or service Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Sale of goods 3 544 3 749 10 328 10 365 15 405 Other income 98 93 289 278 370 Total 3 642 3 842 10 617 10 643 15 775 NOTE 05 LEASES Right of use assets The group’s right of use assets and lease liabilities are categorised and presented below: Amounts in NOK million Land and buildings Vehicles Total At 1 January 2026 490 2 491 Additions including adjustments to existing contracts 198 1 199 Amortisation (152) (1) (153) Foreign currency effects (36) - (36) At 30 September 2026 497 2 499 Economic life/lease term 1-8 years 1-3 years Amortisation method Straight line Straight line Lease liabilities At 1 January 2026 498 Additions including adjustments to existing contracts 196 Interest expenses 19 Lease payments (170) Foreign currency effects (42) At 30 September 2026 501 Whereof: Current lease liabilities 175 Non-current lease liabilities 326
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Q326 PAGE 27 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX NOTE 06 FIXED ASSETS AND INTANGIBLE ASSETS Amounts in NOK million Goodwill Soft- ware Other intan - gible assets Machin - ery and fixtures Right of use assets Total Carrying amount as of 1 January 2026 856 337 1 478 145 491 3 307 Additions - 58 - 40 199 297 Depreciation and amortisation - (69) (39) (36) (153) (296) Foreign currency effects (57) (18) (175) (10) (38) (299) Carrying amount as of 30 September 2026 799 309 1 264 139 499 3 010 The additions of right of use assets, and the corresponding increase in lease liabilities, do not involve any cash flow transactions. NOTE 07 EARNINGS PER SHARE Earnings per share Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Profit for the period (42) (43) (119) (195) (660) Average number of shares Shares at the beginning of the period 175 341 161 175 341 161 175 341 161 175 341 161 175 341 161 Average number of shares 175 236 019 175 341 161 175 305 728 175 341 161 175 341 161 Earnings per share (basic and diluted) - in NOK (0.24) (0.24) (0.68) (1.11) (3.76) Diluted earnings per share and buy-back programme There are no instruments or options that will have a dilutive effect on earnings per share as of 30 September 2026. Komplett bought back shares for NOK 2.6 million in the third quarter of 2026. These purchases form part of the share buy-back programme initiated on 21 August 2026. Komplett ASA owns a total of 383 100 treasury shares, representing 0.22% of Komplett ASA’s share capital. NOTE 08 LOANS AND BORROWINGS Amounts in NOK million Total facility Classification Utilised 30.09.26 Utilised 30.09.25 Revolving credit facility NOK 1 300 million Long-term 800 800 Overdraft facility NOK 400 million Short-term - - Total 800 800 The revolving credit facility and overdraft facility include covenants requiring a minimum equity ratio of 25 per cent and a maximum net debt to EBITDA ratio. The applicable leverage covenant on 30 September 2026 was 3.0x. The facilities are secured by pledges over property, plant and equipment, and current assets. In October, the NOK 1.3bn RCF was extended by two years, from December 2027 to December 2029, with an option to extend for a further year, subject to lenders’ approval. The leverage covenant remains at 3.0x for Q2–Q4 and 3.5x for Q1, reflecting business seasonality, with temporarily increased headroom in 2027: 3.75x in Q1 and 3.50x in Q2 and Q3. NOTE 09 RELATED PARTY TRANSACTIONS All significant transactions with related parties, which are not eliminated in the consolidated financial statement, are presented below: Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Parties Type of transactions Kullerød Eiendom AS ¹ Lease of office and warehouse 8 7 23 22 30 F&H Asia Limited ¹ Purchase of products for resale 0 8 2 15 16 Resurs Bank & Solid ² Sale of products 2 2 5 7 9 Resurs Bank & Solid ² Commission of services sold 31 39 100 116 165 Resurs Bank ² Purchase of factoring services 10 9 25 26 35 SIBA Fastigheter AB ² Lease of office and warehouse 6 7 19 19 26 Total 57 72 174 205 281 1) Related entities owned by the company’s ultimate parent company in the greater Canica group of companies. 2) Related entities owned by the company’s ultimate parent company in the greater SIBA group of companies. In addition to subsidiaries and associated companies, the group’s related parties include its majority shareholders, all members of the board of directors and key management, as well as companies in which any of these parties have either controlling interests, board appointments or are senior staff. All transactions have been entered into in accordance with the arm’s length principle, meaning that prices and other main terms and conditions are deemed to be conducted on market terms.
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Q326 PAGE 28 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX NOTE 10 TOP 20 SHAREHOLDERS The 20 largest shareholders as at 30 September 2026: Rank Name Holding Stake 1 Canica Invest AS 74 376 317 42 % 2 Siba Invest AB 55 581 404 32 % 3 Sole Active AS 6 165 112 4 % 4 The Bank Of New York Mellon Sa/Nv 5 989 477 3 % 5 The Northern Trust Comp, London Br 5 254 702 3 % 6 Verdipapirfondet Holberg Norge 3 883 362 2 % 7 Verdipapirfondet Alfred Berg Gamba 2 358 700 1 % 8 Verdipapirfondet Storebrand Norge 1 455 784 1 % 9 Wenaasgruppen AS 864 130 0 % 10 Nordnet Livsforsikring AS 853 575 0 % 11 Emis AS 550 000 0 % 12 Verdipapirfondet Storebrand Norge 506 101 0 % 13 Verdipapirfondet Storebrand Norge 505 596 0 % 14 Andresen 473 921 0 % 15 Euroclear Bank S.A./N.V. 437 821 0 % 16 Cigalep AS 428 436 0 % 17 Clausen 401 334 0 % 18 Storebrand Livsforsikring AS 391 777 0 % 19 Lt Invest AS 383 100 0 % 20 Verdipapirfondet Storebrand Vekst 378 646 0 % Total top 20 161 239 295 92 % Other 13 718 766 8 % Treasury shares 383 100 0 % Total number of shares 175 341 161 100 % NOTE 11 FINANCIAL INSTRUMENTS – FAIR VALUE The group considers that the carrying amount of the following financial assets and financial liabilities are a reasonable approximation of their fair value: X Trade receivables X Long-term loans X Trade payables X Debt to financial institutions X Cash and bank deposits In addition, the group has currency forwards buying EUR & USD and selling SEK & NOK. As of 30.09.2026, there are outstanding currency forwards of EUR 35.6 million and USD 9.4 million. The unrealised gain on these contracts is NOK 9.3 million and the fair value measurement is Level 2 according to the definition in IFRS 13. The measurement level remains unchanged compared to 31.12.2025. The group does not apply hedge accounting and the gains/losses from these instruments are presented as part of cost of goods sold. NOTE 12 EVENTS AFTER THE REPORTING DATE Following quarter-end, the group extended its revolving credit facility to December 2029, with an option to extend for a further year, subject to lenders’ approval. The extension provides increased financing visibility and additional covenant headroom through Q3 2027, allowing for a leverage ratio of up to 3.75x in Q1 and 3.50x in Q2 and Q3 2027. From Q4 2027, the leverage covenant returns to the ordinary levels of 3.0x for Q2-Q4 and 3.5x for Q1.
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Q326 PAGE 29 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX The APMs used by Komplett Group are defined as set out below: Gross profit: Total operating revenue less cost of goods sold. The group has presented this item because it considers it to be a useful measure to show the management’s view on the overall picture of profit generation before operating expenses in the group’s operations. Gross margin: Gross profit as a percentage of total operating revenue. The group has presented this item because it considers it to be a useful measure to show the management’s view on the efficiency of gross profit generation of the group’s operations as a percentage of total operating revenue. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Total operating revenue 3 642 3 842 10 617 10 643 15 775 - Cost of goods sold (3 156) (3 308) (9 127) (9 102) (13 518) = Gross profit 486 534 1 490 1 540 2 257 Gross margin 13.3 % 13.9 % 14.0 % 14.5 % 14.3 % Total operating expenses (adjusted): Total operating expenses less cost of goods sold and one- off cost. The group has presented this item because the management considers it to be a useful measure of the group’s efficiency in operating activities. Operating cost percentage (adj.): Total operating expenses less cost of goods sold and one-off cost as a percentage of total operating revenue. The group has presented this item because the management considers it to be a useful measure of the group’s efficiency in operating activities. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Total operating revenue 3 642 3 842 10 617 10 643 15 775 Total operating expenses 3 662 3 852 10 658 10 761 16 330 - Cost of goods sold (3 156) (3 308) (9 127) (9 102) (13 518) - One-off cost (12) (14) (23) (61) (62) - Impairment - - - - (538) = Total operating expenses (adj.) 495 531 1 508 1 598 2 212 Operating cost percentage 13.6 % 13.8 % 14.2 % 15.0 % 14.0 % EBITDA excl. impact of IFRS 16: Derived from financial statements as the sum of operating result (EBIT) plus the sum of depreciation, amortisation and impairments for the segments B2C, B2B, Distribution and Other. The group has presented this item because it considers it to be a useful measure to show the management’s view on the overall picture of operational profit and cash flow generation before depreciation and amortisation in the group’s operations, excluding any impact of IFRS 16. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 EBIT (20) (10) (41) (118) (556) - EBIT impact of IFRS 16 (6) (5) (17) (16) (21) + Dep&impair B2C, B2B, Dist. Oth. 47 49 143 144 729 = EBITDA excl. IFRS 16 21 33 84 10 152 EBIT adjusted: Derived from financial statements as operating result (EBIT) excluding one-off costs. The group has presented this item because it considers it to be a useful measure to show the management’s view on the efficiency in the profit generation of the group’s operations before one-off items. EBIT margin adjusted: EBIT adjusted as a percentage of total operating revenue. The group has presented this item because it considers it to be a useful measure to show the management’s view on the efficiency in the profit generation of the group’s operations before one-off items as a percentage of total operating revenue. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Total operating revenue 3 642 3 842 10 617 10 643 15 775 EBIT (20) (10) (41) (118) (556) + One-off cost 12 14 23 61 62 + Impairment - - - - 538 = EBIT adjusted (9) 3 (18) (57) 44 EBIT margin adjusted (0.2 %) 0.1 % (0.2 %) (0.5 %) 0.3 % | APPENDIX: ALTERNATIVE PERFORMANCE MEASURES (APMS)
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Q326 PAGE 30 THIRD QUARTER 2026 KOMPLETT ASA CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX EBIT margin: Operating result (EBIT) as a percentage of total operating revenue. The group has presented this item because it considers it to be a useful measure to show the management’s view on the efficiency in the profit generation of the group’s operations as a percentage of total oper - ating revenue. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Total operating revenue 3 642 3 842 10 617 10 643 15 775 EBIT (20) (10) (41) (118) (556) EBIT margin (0.6 %) (0.3 %) (0.4 %) (1.1 %) (3.5 %) Net working capital: Comprising inventories, trade receivables, trade payables and other current assets and liabilities. The management considers it to be a useful indicator of the group’s capital efficiency in its day-to-day operational activities. Part of the deferred Swedish tax liability is classified as other current liabilities in accordance with local accounting principles, while the part which has maturity of more than 12 months is classified as other non-current liabilities. At the end of the third quarter, NOK 140 million is shown as part of other current liabilities, while NOK 0 million is included in non-current liabilities. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Inventory 1 967 2 022 1 967 2 022 2 297 + Trade receivables - regular 265 189 265 189 176 - Trade payables (1 892) (1 818) (1 892) (1 818) (2 661) +/-Other assets and liabilities (390) (360) (390) (360) (283) = Net working capital (49) 33 (49) 33 (471) Net interest-bearing debt: Interest-bearing liabilities less cash and bank deposits. The group has presented this item because the management considers it to be a useful indicator of the group’s indebtedness, financial flexibility and capital structure. The net interest-bearing debt incl. IFRS 16 is a useful measure as indebtedness, including the lease liabilities from IFRS 16, is relevant for the covenants of the group’s credit facilities. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Long-term loans 800 800 800 800 800 + Other non-current liabilities - 155 - 155 120 + Short-term loans - - - - - - Cash and bank deposits (127) (269) (127) (269) (814) = Net interest-bearing debt 673 686 673 686 106 + IFRS 16 liabilities 501 520 501 520 498 = NIBD incl. IFRS 16 1 174 1 205 1 174 1 205 604 Operating free cash flow: The group has revised the definition of operating free cash flow to align more closely with the IFRS cash flow statement line items. The updated measure is defined as net cash flows from operating activities, less investments in property, plant and equipment and intangible assets, and less principal and interest payments on lease liabilities. The measure includes fewer adjustments than the previous EBITDA-based definition. Management believes this enhances transparency and provides a more reliable measure of the underlying operating free cash generation. Comparative periods have been recalculated using the revised definition to preserve comparability. Reconciliation Amounts in NOK million Q3 2026 Q3 2025 YTD 2026 YTD 2025 FY 2025 Net cash flows from op. activities 127 267 (210) 44 757 - Investments PPE & intangibles (33) (25) (98) (96) (130) - P&L paid on lease liab. (56) (58) (170) (178) (238) = Operating free cash flow 38 184 (479) (230) 389
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CONTENTS HIGHLIGHTS KEY FIGURES CEO COMMENTS FINANCIAL REVIEW SEGMENT REVIEW FINANCIAL STATEMENTS AND NOTES APPENDIX Komplett ASA Visitor address: Østre Kullerød 4 NO-3241 Sandefjord Norway Postal address: P.O. Box 2094 NO-3202 Sandefjord Norway T: +47 33 00 50 00 E: ir@komplett.com www.komplettgroup.com Photo credits: Bjørn Wad | Page 10 Esben Johansen | Page 4 Per Christian Hestnæs | Page 9 Komplett Group | Pages 2,8 and 12 Komplett.no | Pages 6 and 7 iStock | Pages 1, 11, 14 and 16