Slides
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Q3 2026 Investor presentation Magnus Larsson, President and CEO Claes Wenthzel, CFO October 22, 2026
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Pricer in brief 7,500+ Stores on Plaza 80+ Countries 380+ Million Labels Deployed 65+ Million Labels on Plaza 28.000+ Stores delivered 180+ Employees Vision The preferred partner for in-store communication and digitalization.
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33 Q3 highlights ▪ Financial performance reaching historically high levels ▪ Continuous Gross Margin improvement at 30.4% (23.2%) ▪ Adjusted EBIT Margin almost doubled vs. Q3-25 at 12.9% (6.5%) ▪ Recurring revenue at 7.4% (5.0%) of Net Sales ▪ Pricer Plaza Net Sales growth at +39% vs. Q3-25 and +20% vs. Q2-26 ▪ Order intake growing for the third quarter in a row driven by growth in North America ▪ Order Intake growth at +27% at 449.0 MSEK (352.4) ▪ Persistent price competition on the European markets dampen customer orders ▪ Findings at the Groceryshop (US) and NRF Europe (France) events ▪ Leading retailers and brands interested in Pricer Avenue as a shelf-edge merchandise platform ▪ New opportunities within the IoT space
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New customer win: Orange, France ▪ Orange, the leading telecommunications operator in France, is accelerating the transformation of its distribution network through the deployment of ESL’s to: ▪ Improve customer experience ▪ Strengthen the operational efficiency of their store advisors ▪ Deployment of 561 stores over two years ▪ 100 stores to be deployed already in Q4 ▪ Full turnkey solution including Pricer Plaza “During the pilot phase conducted in our stores, Pricer emerged as the ideal partner.” Fabrice Barnéoud Direction Commercial Grand Public, Orange
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5 Order intake ▪ Strong North American growth ▪ Accelerated delivery of Sobeys in Canada ▪ US growth on announced contracts ▪ Positive customer engagements on the US market ▪ Continuous commercial traction ▪ Growth continues into Q3 on the Scandinavian market ▪ Sizeable orders from the Pacific region for customers installs in Australia and New Zealand ▪ A slow European market ▪ Lower order volumes in France driven by Carrefour as anticipated ▪ General weak demand in Eastern Europe even though markets like Hungary show positive signs 668 972 498 532 916 457 501 352 581 466 568 449 2,576 2,841 2,661 2,670 2,918 2,404 2,408 2,229 1,891 1,901 1,967 2,064 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Order intake Order intake R12M
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Retail 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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Operational agility and sustainability with Company Shop Group Operational model: High-velocity redistribution of surplus goods requiring real-time shelf-edge updates Solution: Full-estate deployment of Pricer ESLs for automated markdowns and central pricing control Environmental impact and business results ▪ 122,000 tonnes CO₂ prevented per year ▪ 11.5M meals equivalent saved in food & drink surplus ▪ +5% productivity improvement with fully automated shelf updates eliminated repetitive manual tasks across stores ▪ £24,000 direct paper label cost reduction in the first year alone Industry recognition ▪ Joint use case submission shortlisted for the RTIH Innovation Awards 2026 – Sustainable Retail Innovation
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Our direction: One platform for in-store connectivity Modern retailers demand more connected devices, richer real-time data, and faster shelf-edge execution to enable AI and automation at scale. From proven ESL portfolio to retail’s single platform for in-store connectivity Market demand ▪ The in-store IoT market is growing, driven by new AI- enabled use cases ▪ Large retailers need one standard network for all connected store devices, not separate point solutions Our approach ▪ Our proven ESL portfolio, known for reliability, responsiveness and longevity, still at the core ▪ From 2027, we will gradually add complementary connectivity to support a wider range of IoT devices Value creation ▪ A growing IoT portfolio, with our own devices and partner devices connected to Pricer Plaza ▪ New in-store use cases for retailers ▪ More connected devices drive recurring Pricer Plaza revenue
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Profit & Loss statement ▪ Net sales in Q3 at 504.2 MSEK (598.4) ▪ Strong performance in North America compensates for a weaker development on the European market ▪ Significant gross margin improvement to 30.4% (23.2%) ▪ Gross profit was negatively affected by a monthly depreciation of 7.7 MSEK (from September 2026 to February 2027) related to the closure of the production facility in Germany ▪ Adjusted EBIT is 65.2 MSEK (38.5) ▪ Net profit is 43.8 MSEK (32.2) P&L (MSEK) Q3 2026 Q3 2025 12 month FY 2025 Net Sales 504.2 598.4 2 050.9 2 147.9 COGS -350.8 -459.7 -1 507.8 -1 671.3 Gross Profit 153.4 138.6 543.1 476.6 Gross margin 30.4% 23.2% 26.5% 22.2% Operating expenses -96.6 -96.9 -422.5 -416.6 Other costs 0.6 -3.2 -7.2 -9.2 EBIT 57.5 38.5 113.4 50.9 EBIT margin 11.4% 6.5% 5.5% 2.4% Items affecting comparability 7.7 0.0 21.2 12.4 Adjusted EBIT 65.2 38.5 134.6 63.3 Adjusted EBIT margin 12.9% 6.5% 6.6% 2.9% Financial net -0.1 -3.7 -9.9 -35.7 EBT 57.3 34.8 103.5 15.2 Tax -13.5 -2.7 -22.7 -13.9 Net profit 43.8 32.2 80.8 1.3
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Cash flow ▪ Cash flow from operating activities was 7.4 MSEK (0.6) January-September ▪ Net debt was 30 MSEK, 270 MSEK in cash and bond loan of 300 MSEK Cash flow from operating activities (MSEK) YTD Q3 2026 YTD Q3 2025 FY 2025 Operating result 93.6 31.1 50.9 Adjustment for non-cash items 85.3 63.5 76.9 Interest received 0.0 2.9 5.9 Interest paid -15.4 -15.4 -19.9 Paid income tax -15.4 -3.2 -10.1 Cash flow from operating activities before changes 148.1 78.9 103.6 Cash flows from changes in working capital Increase(-)/decrease(+) inventories -77.2 6.2 89.1 Increase(-)/decrease(+) trade receivables 22.7 -105.4 -64.2 Increase(-)/decrease(+) other current receivables -17.2 -43.8 -39.5 Increase(+)/decrease(-) trade payables -77.6 10.1 32.1 Increase(+)/decrease(-) other current liabilities 8.6 54.6 38.9 Cash flow from changes in working capital -140.7 -78.3 56.4 Cash flow from operating activities 7.4 0.6 160.0
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Net Sales Gross Profit & Gross Margin 801 670 644 614 630 528 449 598 573 488 486 504 2,681 2,780 2,737 2,729 2,558 2,416 2,221 2,205 2,147 2,107 2,145 2,051 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Net sales Net sales R12M 142 128 147 136 152 123 85 139 130 123 137 161 455 492 529 553 563 558 496 499 477 478 529 551 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Gross profit Gross profit R12M Gross margin % 17.7% 19.1% 22.8% 22.1% 24.2% 23.3% 19.0% 23.2% 22.7% 25.3% 28.1% 30.4% Net sales and Gross profit development
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Summary ▪ Strong financial performance on historically high levels in the quarter ▪ Gross margin: 30.4% ▪ Adjusted EBIT: 65.2 MSEK with an adjusted EBIT Margin of 12.9% ▪ Strong growth of recurring revenues and the number of connected Plaza stores ▪ Plaza Net Sales up +39% vs. Q3-25 and +20% vs. Q2-26 ▪ About 500 additional stores connected to Plaza in the quarter ▪ Geopolitical situation and macroeconomic uncertainty continue to impact customer near-term investments ▪ Market sentiment appears to slowly improve indicated by order intake growth for the 3rd quarter in a row
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13 Q&A