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Q2 2025 Results 18 July 2025 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO 1
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Disclaimer This presentation (hereinafter referred to as the “Presentationˮ) has been prepared by Vend Marketplaces ASA ("Vend" or the “Companyˮ) exclusively for information purposes and does not constitute an offer to sell or the solicitation of an offer to buy any financial instruments. Reasonable care has been taken to ensure that the information and facts stated herein are accurate and that the opinions contained herein are fair and reasonable, however no representation or warranty, express or implied, is given by or on behalf of the Company, any of its directors, or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability is accepted for any such information or opinions. This Presentation includes and is based on, among other things, forward-looking information and statements. Such forward-looking information and statements are based on the current expectations, estimates and projections of the Company or assumptions based on information available to the Company. Such forward-look- ing information and statements reflect current views with respect to future events and are subject to risks, uncertainties and assumptions. The Company cannot give any assurance as to the correctness of such information and statements. Several factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by statements and information in this Presentation. There may have been changes in matters which affect the Company subsequent to the date of this Presentation. Neither the issue nor delivery of this Presentation shall under any circumstance create any implication that the information contained herein is correct as of any time subsequent to the date hereof or that the affairs of the Company have not since changed. The Company does not intend, and does not assume any obligation, to update or correct any information included in this Presentation. Alternative performance measures APM) used in this presentation are described and presented in the section Definitions and reconciliations in the quarterly report. Q2 2025 Results | Disclaimer 2
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Summary Q2 2025 Results Strategic highlights • Strategic focus areas: Continued strong progress on ARPA and cost agenda • Simplification: Divestment process for Delivery initiated** , divested Prisjakt and several venture investments • Capital allocation: Returned NOK c.6.2bn to shareholders in Q2 through share buybacks of NOK c.5.2bn and cash dividends of c.1.0bn, following proceeds from Adevinta and non-core asset sales • Vend brand officially launched in May Operational highlights • Mobility: Revenues increased 4%* affected by advertising decline, while classifieds up 12% driven by ARPA; 58% EBITDA margin • Real Estate: Revenues increased 10%* mainly driven by ARPA in Norway and strong transactional growth; 53% EBITDA margin • Jobs: Revenues in Norway increased 3% driven by solid ARPA growth in a market with material volume decline; reported revenues affected by market exits; EBITDA margin 60% • Recommerce: Revenues decreased 6%* as transactional growth was curbed by advertising and product closures Key financials 2%* Revenues Yo Y NOK 1,694m) 25% EBITDA Yo Y NOK 583m) 34% EBITDA margin 7%-points YoY * On a constant currency basis ** Delivery presented as a discontinued operation and deconsolidated in 2024 and 2025 numbers 3
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Mobility Real Estate Jobs Recommerce Car valuation on Nettbil: Efficiently aligning seller expectations – resulting in more successful transactions Improved matching: Recommendation of ads based on weighted criterias Enhanced user experience: Smart floor plans with AI-powered matching of listing photos to the floor plan Instantly displays photos from a room based on clicking on the floor plan Improved ad insertions: Tools and insights for creating well-performing job ads on FINN Improved matching: Improving matching by enhancing structured data and improving reach Improved ad insertion: Efficient item creation, helping sellers list items faster and more accurately, addressing common user pain points Improved matching: Understanding user intent beyond keywords to deliver more relevant and personalised search results Utilising AI for product development Q2 2025 Results 4
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Mobility 4 Q2 2025 Results
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ARPA Strong ARPA growth across countries Q2 2025 Results | Mobility Q2 2025, YoY change % NAA Q2 2025, YoY change % ¹ Transactional models like Nettbil, Autovex, and Wheelaway are not included due to different business models ² Avg. daily pro listings per month, due to pay per day listing model in Denmark Professional NOK 497¹ 13% YoY SEK 709¹ 19% YoY DKK 349² 13% YoY Professional 152k¹ 3% YoY 233k¹ 9% YoY 52k² 5% YoY Private NOK 715¹ 15% YoY Private 116k¹ 1% YoY SEK 257¹ 45% YoY DKK 266 66% YoY 229k¹ 14% YoY 30k 51% YoY ARPA Average Revenue Per Ad NAA New Approved Ads 6
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• Classifieds revenues up 12%, driven by strong ARPA growth across all countries and segments • Solid quarter for Nettbil and AutoVex resulted in 14% growth in transactional revenues • Advertising revenues down 20% YoY • Decline in OPEX excl. COGS despite investments in C2B models and transition to a common tech platform • EBITDA of NOK 391m, up 14% YoY Q2 2025 Results | Mobility Solid EBITDA development Revenues NOKm, EBITDA margin % Advertising revenues Transactional revenues HighlightsMobility * On a constant currency basis YoY growth EBITDA margin Classified revenues Other revenues 4%* 7
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7 Real Estate Q2 2025 Results
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Q2 2025 Results | Real Estate ARPA growth curbed by downgrades ¹ New construction not included, due to different business models ² Oikotie only, excluding ads on Tori and Qasa ³ Residential for sale ARPA not IFRS adjusted ARPA Q2 2025, YoY change % NAA Q2 2025, YoY change % Total NOK 3,567¹ 11% YoY EUR 22² 13% YoY Total 74k¹ 0% YoY 108k² 4% YoY Residential for sale³ NOK 4,912¹ 7% YoY Residential for sale 40k¹ 3% YoY ARPA Average Revenue Per Ad NAA New Approved Ads 9
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Revenues NOKm, EBITDA margin % Real Estate Highlights • 11% growth in classifieds revenues, driven by ARPA and volume in Norway • Strong 40% increase in transactional revenues, fuelled by Qasa Sweden and HomeQ; Qasa expanded to Norway on 27 May • OPEX excl. COGS down 5% YoY • EBITDA of NOK 200m, up 31% YoY Q2 2025 Results | Real Estate EBITDA expansion enabled by double-digit revenue growth and lower cost base * On a constant currency basis 1%* 10%*YoY growth Advertising revenues Transactional revenues EBITDA margin Classified revenues Other revenues 10
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1 0 Jobs Q2 2025 Results
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Q2 2025 Results | Jobs Increased ARPA growth ¹ Sourced ads not included ARPA Q2 2025, YoY change % NAA Q2 2025, YoY change % Total NOK 8,229¹ 22% YoY Total 35k¹ 15% YoY ARPA Average Revenue Per Ad NAA New Approved Ads 12
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Jobs Highlights • Total reported revenues and margin impacted by exits in Sweden and Finland • Revenues in Norway grew 3% YoY as strong ARPA growth from segmented pricing model and upsell products offset a 15% volume decline • OPEX excl. COGS down 29% YoY, driven by country exits and implication efforts • EBITDA of NOK 172m, up 13% YoY Q2 2025 Results | Jobs Strong EBITDA performance driven by growth in Norway and efficiency gains from simplification Revenues NOKm, EBITDA margin % Finland & Sweden revenues EBITDA margin Norway revenues Jobs YoY growth 11%* 13 * On a constant currency basis
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1 3 Recommerce Q2 2025 Results
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Q2 2025 Results | Recommerce GMV growth across all markets; improved take rate in Finland and Denmark Transacted GMV Q2 2025, YoY change % Take rate Q2 2025, YoY change pp. Total NOK 549m 17% YoY SEK 178m 21% YoY EUR 13m 197% YoY DKK 33m 110% QoQ Total 15% 0pp. YoY 10% 1pp. YoY 16% 5pp. YoY 15% 2pp. QoQ GMV Gross merchandise value of transacted C2C goods Take rate: External take rate including shipping and VAT 15
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Recommerce Revenues NOKm, EBITDA margin % Q2 2025 Results | Recommerce EBITDA improvement driven by higher transactional gross profit margins and lower cost base * On a constant currency basis YoY growth Highlights • Transactional revenues up 23% YoY • Total revenue development impacted by the phase-out of low-margin revenue streams as part of strategic simplification • Advertising revenue decreased 40% YoY • OPEX excl. COGS reduced by 9% YoY, driven by FTE reductions and lower marketing spend • EBITDA improved by 10% YoY to NOK 66m Advertising revenues Classifieds revenues EBITDA margin Transactional revenues Other revenues 6%* 16
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Finance Q2 2025 Results 1 6 17
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Q2 2025 Results | Finance Mobility Real Estate Jobs Recommerce Other/HQ Q2 2024 Q2 2025 Q2 2024 Q2 2025 Group EBITDA 583m 25% Yo Y Group revenues 1,694m 2%* Yo Y Vend Vend Q2 Group revenues decreased 2%* Yo Y; EBITDA up 25% Yo Y Q2 revenues per segment NOKm YoY growth Q2 EBITDA per segment NOKm YoY growth Mobility Real Estate Jobs Recommerce Other/HQ 4%* 10%* 11%* 6%* 51%* 14% 31% 13% 10% 4% 18* On a constant currency basis
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Vend OPEX excl. COGS NOKm Highlights •Total OPEX excl. COGS down 11% YoY, driven by lower personnel and marketing costs •Personnel costs down 15% YoY, driven by FTE reductions •Marketing costs decreased by 26%YoY, primarily driven by the exit from Jobs in Finland and Sweden, as well as phasing effects in Recommerce •OPEX excl. COGS / revenues ratio down 7%-points YoY Q2 2025 Results | Finance Cost agenda on track, OPEX excl. COGS down 11% YoY growth x%* * On a constant currency basis Other costs Marketing costs Opex (excl. COGS / Revenues Personnel costs 11%YoY growth 19
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Income statement Second quarter NOK million) 2024 2025 Operating revenues 1,709 1,694 Operating expenses 1,244 1,111 Gross operating profit (loss) - EBITDA 465 583 Depreciation and amortisation 140 134 Impairment loss 2 7 Other income - 8 Other expenses 124 121 Operating profit (loss) 199 330 Share of profit (loss) of joint ventures and associates 25 8 Impairment loss on joint ventures and associates (recognised or reversed) 3 11 Gains (losses) on disposal of joint ventures and associates - - Financial income 130 4,671 Financial expense 119 71 Profit (loss) before taxes 183 4,911 Taxes 61 46 Profit (loss) from continuing operations 121 4,866 Profit (loss) from discontinued operations Profit (loss) 8,786 8,907 345 5,211 Non-controlling interests 5 4 Owners of the parent 8,903 5,215 Earnings per share NOK EPS - basic NOK 38.69 23.29 EPS - basic adjusted NOK 1.03 22.52 Q2 income statement Vend Q2 2025 Results | Finance Restructuring cost related to the announced restructuring programme NOK 45m), cost related to the separation of Schibsted Media NOK 19m), transaction-related costs related to ongoing sales processes of Lendo, skilled trades marketplaces and Delivery NOK 5 million) and fair-value remeasurement of contingent considerations NOK 50m). Includes gain of NOK 4.6bn from fair value adjustment of Aurelia. Operations in Lendo, Prisjakt, skilled trades marketplaces and Delivery presented as discontinued operations in 2025 and 2024. Adevinta and Schibsted Media are only presented as discontinued in Q2 2024. Q2 2025 includes gain of NOK 298m from sale of Prisjakt. 20
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Cash flow Second quarter NOK million) 2024 2025 Profit (loss) before taxes from continuing operations 183 4,911 Depreciation, amortisation and impairment losses (recognised or reversed) 145 151 Net interest expense (income) 11 3 Net effect pension liabilities 1 4 Share of loss (profit) of joint ventures and associates 25 8 Interest received 58 59 Interest paid 80 50 Taxes paid 119 219 Non-operating gains and losses 17 4,515 Change in working capital and provisions 31 23 Net cash flow from operating activities 174 313 Net cash flow from investing activities -88 3,721 -whereof Development and purchase of intangible assets and property, plant and equipment 141 130 Net cash flow from financing activities 19 726 6,257 -whereof Payment of principal portion of lease liabilities 8 18 Q2 cash flow from continuing operation Q2 2025 Results | Finance Increased due to proceeds from capital repayment from Aurelia. Gain related to fair value adjustments of Aurelia NOK 4.6bn in Q2 2025, without cash effect. NOK 1bn in dividends paid and NOK 5.2bn in share buybacks. 21
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Cash dividends Capital return of c.NOK 6.2bn in Q2, in accordance with capital allocation policy Q2 2025 Results | Finance •Ordinary dividend of NOK 2.25 for 2024 (up from NOK 2.00 in 2023 •Special cash dividend NOK 2.22 (approx. NOK 500m) in June 2025, following Adevinta cash proceeds Reverse share buyback offer •Tender offer to purchase up to 13.5m own shares announced 11 June 2025 •The offer resulted in the buyback of in total 13.5m shares, with a total value of approx. NOK 4.65bn Buyback programme •First tranche of the buyback programme ended February 2025 following NOK 2bn of buybacks 6m shares) •Second tranche of share buyback programme ended 11 June 2025 following NOK 788m of buybacks 2.6m shares) 22
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Other interest-bearing debt Bonds & FRNs NIBD/EBITD A Undrawn RFC Term loan Solid financial position following capital returns Q2 2025 Results | Finance Financial gearing NOKm Debt maturity profile NIBD/EBITDA according to bank definition) 23
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Capital allocationMedium-term targets Simplify Verticalise Expand Financial framework for sustainable value creation Q2 2025 Results | Finance Strategy Accelerate Future Winners •Any surplus cash post the below will be returned to shareholders over time •Pay a progressive annual dividend •Investing in selective acquisitions to create shareholder value •Maintain a conservative balance sheet Revenue growth: 1217% EBITDA margin: 5560% Revenue growth: 1217% EBITDA margin: 4550% Revenue growth: 510% EBITDA margin: 55% Revenue growth: 20% EBITDA margin: single-digit Mobility Real Estate Jobs Recom. 24
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Q&A 25 Q2 2025 Results | Q&A 18 July 2025 Christian Printzell Halvorsen, CEO Per Christian Mørland, CFO 25
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Appendices Q2 2025 Results | Appendices Spreadsheet containing detailed Q2 2025 and historical information can be downloaded at vend.com/ir
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Q2 2025 Results | KPIs Historical ARPA trends per vertical ¹Transactional models like Nettbil, Autovex, and Wheelaway are not included due to different business models ²Avg. daily pro listings per month, due to pay per day listing model in Denmark ³New construction not included, due to different business models ⁴Oikotie only, excluding ads on Tori and Qasa ⁵Sourced ads not included ARPA Vertical Country Category Q224 Q324 Q424 Q125 Mobility¹ Norway Professional NOK 439 NOK 428 NOK 434 NOK 461 Norway Private NOK 620 NOK 653 NOK 698 NOK 704 Sweden Professional SEK 596 SEK 578 SEK 613 SEK 708 Sweden Private SEK 177 SEK 166 SEK 182 SEK 206 Denmark Professional² DKK 309 DKK 313 DKK 316 DKK 341 Denmark Private DKK 161 DKK 168 DKK 167 DKK 179 Real Estate Norway Total³ NOK 3,200 NOK 3,026 NOK 3,153 NOK 3,279 Norway Residential for sale NOK 4,585 NOK 4,385 NOK 4,361 NOK 4,943 Finland Total⁴ EUR 19 EUR 20 EUR 24 EUR 21 Jobs Norway Total⁵ NOK 6,763 NOK 6,967 NOK 7,303 NOK 7,891 27
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Q2 2025 Results | KPIs Historical listing trends per vertical ¹Transactional models like Nettbil, Autovex, and Wheelaway are not included due to different business models ²Avg. daily pro listings per month, due to pay per day listing model in Denmark ³New construction not included, due to different business models ⁴Oikotie only, excluding ads on Tori and Qasa ⁵Sourced ads not included NAA Vertical Country Category Q224 Q324 Q424 Q125 Mobility¹ Norway Professional 156k 158k 162k 156k Norway Private 118k 106k 62k 67k Sweden Professional 255k 249k 248k 225k Sweden Private 265k 245k 177k 158k Denmark Professional² 55k 55k 57k 53k Denmark Private 62k 58k 45k 36k Real Estate Norway Total³ 74k 67k 49k 58k Norway Residential for sale 38k 31k 21k 29k Finland Total⁴ 111k 107k 91k 103k Jobs Norway Total⁵ 41k 35k 34k 40k 28
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Q2 2025 Results | KPIs Historical Recommerce KPIs GMV Gross merchandise value of transacted C2C goods Take rate: External take rate including shipping and VAT Transactional KPIs Vertical Country Category Q224 Q324 Q424 Q125 Recommerce Norway Transacted GMV NOK 468m NOK 481m NOK 540m NOK 531m Norway Take rate 16% 16% 16% 16% Sweden Transacted GMV SEK 147m SEK 173m SEK 177m SEK 191m Sweden Take rate 9% 10% 10% 10% Finland Transacted GMV EUR 4m EUR 8m EUR 12m EUR 12m Finland Take rate 11% 15% 16% 17% Denmark Transacted GMV - - - DKK 16m Denmark Take rate - - - 14% 29
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Q2 2025 Results | Finance Shareholders analysis Source: Nasdaq OMX, VPS as of 18 June 2025; The data is obtained through the analysis of beneficial ownership and fund manager information provided in replies to disclosure of ownership notices issued to all custodians on the Vend share register. Whilst every reasonable effort is made to verify all data, neither Nas- daq OMX nor Vend can guarantee the accuracy of the analysis. Rank Name A-shares B-shares Total % of S/I 1 Blommenholm Industrier AS 30,746,423 10,430,648 41,177,071 17.6% 2 Folketrygdfondet 8,511,713 11,830,358 20,342,071 8.7% 3 DNB Asset Management AS 3,182,910 5,733,124 8,916,034 3.8% 4 The Vanguard Group, Inc. 3,493,836 3,393,969 6,887,805 2.9% 5 HMI Capital Management, L.P. 25,029 6,600,682 6,625,711 2.8% 6 KLP Kapitalforvaltning AS 1,405,428 3,394,768 4,800,196 2.1% 7 Storebrand Kapitalforvaltning AS 2,255,108 2,180,868 4,435,976 1.9% 8 Baillie Gifford & Co. 0 4,071,060 4,071,060 1.7% 9 Nordea Funds Oy 409,266 3,651,295 4,060,561 1.7% 10 BlackRock Institutional Trust Company, N.A. 1,569,484 2,163,744 3,733,228 1.6% 11 ODIN Forvaltning AS 967,302 2,329,362 3,296,664 1.4% 12 Polaris Media ASA 0 3,218,304 3,218,304 1.4% 13 Novo Holdings A/S 2,132,418 1,029,047 3,161,465 1.4% 14 Vor Capital LLP. 119,471 2,992,386 3,111,857 1.3% 15 Alfred Berg Kapitalforvaltning AS 1,230,210 1,817,153 3,047,363 1.3% 16 Eika Kapitalforvaltning AS 622,262 2,093,855 2,716,117 1.2% 17 Reade Street Capital Management 2,052,675 467,663 2,520,338 1.1% 18 Alecta pensionsförsäkring, ömsesidigt 0 2,248,500 2,248,500 1.0% 19 Handelsbanken Kapitalförvaltning AB 139,876 1,679,018 1,818,894 0.8% 20 abrdn Investment Management Limited 702,282 1,099,133 1,801,415 0.8% 30
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Q2 2025 Results | Finance Vend share count Number of A-shares Number of B-shares Total number of shares Shares outstanding Treasury shares Issued Shares outstanding Treasury shares Issued Shares outstanding Treasury shares Issued As at 30 June 2025 95,868,443 4,669,889 100,538,332 115,790,504 17,596,009 133,386,513 211,658,947 22,265,898 233,924,845 31
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Investor contact Q2 2025 Results| Investor contact Visit Vendsʼs website: vend.com Email: ir@vend.com Jann-Boje Meinecke SVP FP&A and IR 47 941 00 835 Simen Madsen IR Officer 47 992 73 674 Vend Marketplaces ASA Visiting address: Grensen 57, 0159 Oslo Postal address: P.O. Box 747 Sentrum, 0106 Oslo Norway