Slides
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Q4 2025 Investor presentation Magnus Larsson, President and CEO Claes Wenthzel, CFO February 5, 2026 Stockholm, Sweden
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Pricer in brief 6,000+ Stores on Plaza 80+ Countries 380+ Million Labels Deployed 48+ Million Labels on Plaza 28.000+ Stores 200+ Employees Vision The preferred partner for in-store communication and digitalization.
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Q4 highlights ▪ Net sales in Q4 positively contributed to the 20% increase in 2H net sales compared to 1H 2025 ▪ Order intake momentum with Q4 being the highest in 2025 ▪ New customer contracts announced in the US, Netherlands and Norway ▪ Tangible increase in customer activity across many markets ▪ Major decrease in inventories ▪ Contributing to the strong positive cash flow ▪ Temporary decline in GM due to the sale of ‘excess’ inventory ▪ Full-year profitability
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Industry insights & macro trends Sources: IHL, Experience Unleashed, Savanta, McKinsey & Company, 2024 1. Market growth & strategic digitalization 2. Rising operational cost pressures 3. Inventory accuracy & on-shelf availability 4. Evolution of in-store experience 5. Sustainability as a competitive advantage 6. Tech transformation & Personalization
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5 Key Customer Wins in Q4 Contract awarded in partnership with IBM Federal - Pricer has been vetted as supplier by the US Department of Defense - Planed deployment of ESLs in 57 DeCa stores outside continental USA - Potential ESL modernization in 178 stores in continental USA - First order received in December ´25 Exclusive framework agreement with Merchants Distributors, LLC (MDI) - MDI is a wholesale grocery store distributor - 600 members across 3000 locations, in 17 states - Pricer Plaza and ESLs - First order received December ´25 - New Pricer customer DecemberOctober
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6 Key Customer Wins in Q4 Framework Agreement with Norway's second largest retail chain - Move from reseller to direct sales - More than 1000 stores in Norway - Store formats include Obs, EXTRA, Coop and Matkroken - Supplier of in-store communication and digitalization solutions - New direct customer Upgrade of Pricer installed base at PLUS Retail in the Netherlands - 140 MSEK order value - Deployment of 100 stores in 2026 - Deployment of 165 stores in 2027 - Modernization to the latest generation ESL - Buyback of existing labels, reinforcing sustainability Framework Agreement with leading retailer in Norway - Move from reseller to direct sales - 1800 grocery stores - Store formats include Kiwi, Meny, Spar and Joker - Supplier of in-store communication and digitalization solutions - New direct customer NovemberOctober December
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Pricer Avenue at the NRF ▪ The world´s sleekest, most advanced label, with unprecedented communication possibilities - ‘floating canvas’ ▪ Good customer feedback and learnings from Q4 in-store pilots ▪ New Pricer Plaza module, “Designer” for Avenue and ESL created a lot of interest ▪ Commercially launched at the show with first, low-volume, live customers expected in Q2 ▪ Joint TED talk at the NRF with East of England Co-op discussing in-store shopper engagement Shelf-edge communication platform for an elevated shopper experience “Avenue is bringing new energy to our key promotional areas. It’s a big step toward delivering a store experience that’s ready for the future” Rob Smith, Technology Officer East of England Co-op
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Profit & Loss statement Amounts in SEK M Q4 2025 Q4 2024 Full-year 2025 Full-year 2024 Net sales 572.6 630.0 2,147.9 2,558.0 Cost of goods sold -442,7 -477.6 -1,671.3 -1,994.8 Gross profit 129.9 152.4 476.6 563.2 Gross margin 22.7% 24.2% 22.2% 22.0% Operating expenses -107.7 -100.6 -416.6 -371.4 Other income and expenses -2.4 -1.0 -9.2 -1.3 Operating profit/loss 19.8 50.8 50.8 190.5 Operating margin 3.5% 8,1% 2.4% 7.4% Comments ▪ Net sales decreased year-on-year in Q4. Adjusted for currency effects sales were at the same level compared to Q4 last year ▪ Gross margin decreased to 22.7% (24.2%), negatively affected by sales of excess inventory in Q4 ▪ Operating profit was 19.8 MSEK (50,8 MSEK), impacted by one-off cost* of 5 MSEK in Q4 * VAT Canada for 2022-2023
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Cash flow from operating activities Comments ▪ Reduced working capital of 56,4 MSEK as an effect from more efficient inventory management ▪ Full year Operating cash flow increased to 179,9 MSEK (58,0) ▪ Positive net cash of 8 MSEK and available cash of 458 MSEK 123,5 89 32,2 38,9 -64,2 -39,5 179,9 CF operations excl WC Inventory Trade payables Other current liabilities Trade recievebles Other recievebles CF from operations 0 50 100 150 200 250 300 Cash flow from operating activities
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Summary ▪ Strong order intake in Q4, the highest quarter in 2025 ▪ Geopolitical situation and macroeconomic uncertainty continue to impact near-term investment within the retail sector ▪ Business is generally less predictable and lumpier ▪ Commercial launch of Pricer Avenue with initial customer installs expected in Q2 ▪ Increased customer engagement expected to create new opportunities in the second half of 2026 ▪ Pricer has a large number of long-term customers generating repeat business, with many looking at upgrading their Pricer installation