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Q3 2025November 4th November 4th, 2025 Page 1
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DisclaimerIMPORTANT – You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by SmartCraft ASA (the "Company") or any person on behalf of the Company, and any question-and-answer session that follows the oral presentation (collectively, the "Information"). In accessing the Information, you agree to be bound by the following terms and conditions. The Information does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase shares or other securities of the Company, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding such shares or other securities. Any shares or other securities of the Company may not be offered or sold in the United States or any other jurisdiction where such a registration would be required unless so registered, or an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended, or other applicable laws and regulations is available. The Information is not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident of, or located in, any locality, state, country or other jurisdiction where such distribution or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. The Information is not for publication, release or distribution in any jurisdiction in which offers or sales would be prohibited by applicable law. The Information has been prepared by the Company, and no other party accepts any responsibility whatsoever, or makes any representation or warranty, express or implied, for the contents of the Information, including its accuracy, completeness or verification or for any other statement made or purported to be made in connection with the Company and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The Information contains forward-looking statements. All statements other than statements of historical fact included in the Information are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target", "ambition", "outlook", "believe", "expect", "aim", "intend", "may", "anticipate", "estimate", "plan", "project", "will", "can", "have", "likely", "should", "would", "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future. Furthermore, information about past performance given in this Information is given for illustrative purposes only and should not be relied upon as, and is not, an indication of future performance.No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Information or the opinions contained therein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, neither the Company nor any of its parent or subsidiary undertakings or any such person's officers or employees accepts any liability whatsoever arising directly or indirectly from the use of this document. The Information has not been independently verified and will not be updated. The Information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document. This presentation contains statistics, data, statements and other information relating to the group's markets and the industry in which it operates. Where such information has been derived from third-party sources, such sources have been identified herein. In addition, the Company has been named as a source for certain market and industry statements included in this presentation. Such "Company information" reflects the Company's views based on one or more sources available to it (some of which are not publicly available, but can be obtained against payment), including data compiled by professional organisations, consultants and analysts and information otherwise obtained from other third party sources.By reviewing this Information you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the businesses of the Company. This Information must be read in conjunction with the recent financial reports of the Company and the disclosures therein. This Information shall be governed by Norwegian law, and any disputes relating to hereto is subject to the sole and exclusive jurisdiction of Norwegian courts. SmartCraft Presentation Template Page 2November 4th, 2025
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•This is SmartCraft•Q3 highlights•Q3 financials•Summary•Q&A SmartCraft Q3 2025 Page 3November 4th, 2025
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This is SmartCraftSmartCraft Q3 2025 Page 4November 4th, 2025
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This is SmartCraft Why we existWe are here to digitize construction for the benefit of people, profit and the planet. What we doWe offer software that help companies plan and work more efficiently. So that they can be more profitable, create better working conditions, and deliver a more sustainable service. SmartCraft Q3 2025Page 5
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Who we are Page 6SmartCraft Q3 2025 Our customersSmartCraft serves over 14 100 customers and more than 185 000 users. Where we operateSmartCraft currently has 270 employees that are located in offices in Norway, Sweden, Finland and the UK.
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Driving profitable growth SmartCraft Q3 2025 Page 7 Time efficiency•Streamlined workflow•Smart scheduling & resourcing•Less admin, more billable work Clear communication•One source of truth •Real-time updates •Fewer disputes Safer projects•HSE & QA built-in•In-site checklists•Fewer incidents Overview & control•Live cost vs. budget•Change orders under control•Compliance-ready docs November 4th, 2025
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Large total addressable market (TAM)•TAM of NOK 50 billion*•~700.000 addressable construction companies•~10-15% penetration of mission critical solutions•Ongoing digitalization of a digitally immature market SmartCraft Q3 2025 Page 8 63% 10%10%17% *Analysis by SmartCraft, August 2024. Calculated on basis of ARPC, penetration and addressable companies (ADL model, 2020) Total addressable market distribution across regions November 4th, 2025
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Q3 highlightsSmartCraft Q3 2025 Page 9November 4th, 2025
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Q3 2025 in brief SmartCraft Q3 2025 Page 10 Annual Recurring Revenue MNOK 505+6.4% YoY Adjusted EBITDA-capex 28.2%+2.9% p.p YoY Cash flow MNOK 36+4.8% YoY Churn 9.6%-0.4 p.p QoQ November 4th, 2025
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Solid growth across the funnelMore customers, more traffic, and record-high leads in the pipeline•16% increase in new customers (YoY)•7% more sales leads (YoY)•15% more leads in pipeline (YoY)•55% increase in web traffic (YoY) 11SmartCraft Q3 2025 JanFebMa rAprMa yJunJulAugSepOctNovDecLeads total 2023Leads total 2024Leads total 2025 Leads generation November 4th, 2025
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Evolving our organization structure•Transitioned from country to business area structure•Builds on our proven product-led strategy tailored to core customer segments•Enables sharper focus, faster execution, and scalable international growth•Each business area owns product, go-to-market, and P&L•Shared playbooks support repeatable growth•Disciplined M&A remains a growth lever•Evolving towards a SmartCraft master brand Page 12 Electro HVAC & plumbing SME constuction Enterprise SmartCraft Q3 2025November 4th, 2025
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Solutions in business areas SmartCraft Q3 2025 Page 13 ElectroHVAC & plumbingSME constuctionEnterprise November 4th, 2025
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The new SmartCraft identity•Transitioning to a unified SmartCraft master brand•Supported by strategic sub-brands like SmartCraft Spark and SmartCraft Flow•Simplifies our portfolio and strengthens market recognition•Enhances marketing efficiency and cross-market scalability•Preserves local brand equity where it adds value Page 14 November 4th, 2025SmartCraft Q3 2025
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A connected experience SmartCraft Q3 2025 15 November 4th, 2025
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•. SmartCraft Q3 2025 Page 16 Shared platform built for scale and global adoption •Launched in Norway (Q1) and Sweden (Q2) for electricians•Above 300+ customers showing strong traction and customer satisfaction•Q4 focus: scaling adoption across markets •Introduced in late Q3 for HVAC and plumbing professionals•Early trials show high customer satisfaction•Complements SmartCraft Spark, together they expand vertical coverage•Q4 focus: onboarding early adopters and preparing for broader rolloutNovember 4th, 2025
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Q3 financialsSmartCraft Q3 2025 Page 17November 4th, 2025
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Recurring revenue as basis for successContinued growth in a challenging market•6.4% growth YoY•Q3 is a seasonally slow quarter in sales 6.9% organic growth•Markets improving in Sweden, UK and Finland•Finland revenue growth hampered by large customer downgrade•Norwegian underperforming due to a challenging market and structural changes in the sales team SmartCraft Q3 2025Page 18 367,1386,6401,5 461,3474,4482,0493,5504,8504,8 Q3'23Q4'23Q1'24Q2'24Q3'24Q4'24Q1'25Q2'25Q3'25 YoY organic growth +11%+10%+8%+6%+7%+7%+14%+14%+12% ARR bridge YoYmNOK 474,432,6-2,20,0504,8 Q3'24OrganicgrowthCurrencyeffectsM&AQ3'25 +7% ARR developmentmNOK
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Continued growth in revenue and strong profitability •Focus on transitioning revenue from non-recurring to recurring. Expecting to consistently be in the mid/high 90s. •Transition dampening growth in the short-term.•Increased margin 2.9 p.p quarter over quarter•A continued pressure on margin from the revenue transition•Proven track-record of ability to increase profitability in acquired solutions SmartCraft Q3 2025 Page 19 •Continued investments in strategic development projects•Level of capitalization varies depending on project lifecycle•Expecting 8-9 % for FY’25 Solid YoY revenue growthmNOK Consistently high profitabilityR&D capexmNOK 131,8137,8 Q3'24Q3'25Revenue 94.1% 96.9% +4.5% Recurring revenue (%) 36,0 %34,2 %34,7 %38,2 %35,6 % 25,3 %24,2 %27,3 %29,4 %28,2 % Q3'24Q4'24Q1'25Q2'25Q3'25Adj.EBITDA marginAdj. EBITDA–R&D capex margin 14,210,3 10,7 %7,5 % 000000 0510152025303540 Q3'24Q3'25 R&D capexR&D capex % of sales November 4th, 2025
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+ 11% Organic growth recurring revenue Strong revenue growth in SwedenStrong and increased growth•High sales activity generating leads•Continued elevated, but declining level of churn and downgrades Adjusted EBITDA margin increase of 2.9%-pts YoY•Locka continues to operating at a lower margin due to the ongoing revenue transition SmartCraft Q3 2025Page 20 63,0 68,128,4 32,8Q3'24 Q3'25 RevenueEBITDA +8% Revenue growth mNOK Sweden
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Continued challenging market in NorwayLower growth in revenue•Negative short-term effect by the relocation of one sales office•Improvements in churn and downgrades, but still challenging Decrease in adjusted EBITDA margin YoY due to lower revenue growth and capitalizations, but increased margin by 4pp QoQ Page 21 45,1 46,320,5 20,4Q3'24 Q3'25 RevenueEBITDA +3% Revenue growth NorwaymNOK + 4% Organic growth recurring revenueSmartCraft Q3 2025
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Improvements in the Finnish marketOrganic growth decline to negative figures due to the downgrade from a large customerContinued positive signals•More contract starts in new build sector•User activity increasing among existing customers Profitability decline•Customer downgrade affecting profitability QoQ•Lower capitalisations YoY SmartCraft Q3 2025Page 22 12,7 12,04,7 1,6Q3'24 Q3'25 RevenueEBITDA -5% Revenue growth FinlandmNOK - 6% Organic growth recurring revenue
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Resilient performance in UK•Increasing growth in recurring revenue•Resilient performance despite macro challenges•High churn reflects sector-wide weakness•Elevated level due to a large customer churn in Q4 LY, expecting a decline in Q4 2025•Construction market remains subdued with low activity•Interest rate reductions have begun, but timing of effects remains unclear SmartCraft Q3 2025Page 23 11,1 11,43,8 2,8Q3'24 Q3'25 RevenueEBITDA +3% Revenue growth United KingdommNOK + 7% Organic growth recurring revenue
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34,348,254,329,735,9Q3'24Q4'24Q1'25Q2'25Q3'25 Solid financial position and strong cash flow •Continuing strong performance in operating cash flow•Cash positive all quarters (Q1 is historically stronger, but a shift towards other quarters started in 2023) SmartCraft Q3 202524 1017,8 33,472,0160,7 964,8 73,198,4147,7 CurrentassetsGoodwill and intangibleassetsNon-currentassets Cash and cash equivalentsCurrentliabilitiesEquityNon-currentliabilities Deferredrevenue •Net cash positive and negative net working capital•Holds 3,48% (~6,0m) shares +20,3% +53,0%+58,3% +4.8 % -26,2% Balance sheet, Sep 30, 2025 Operating cash flow mNOK mNOK, YoYgrowth
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Profitable growth, scalability, and a clear path ahead1.Strong recurringrevenue &margin•97%recurringrevenue•ARR NOK 505m•3% marginincrease2.Provenscalability&operationalresilience•Platformlaunches•Growthinkeymarkets•Marginand cashflowgrowth3.Well-positionedforfuturegrowth•New businessareastructure•Innovative AI•Strong M&A pipeline•LargeunderpenetratedmarketSmartCraft Q3 2025Page 25 Medium-term financial targets Margin expected to increase due to scalability of the business 15-20%organic growth Bolt on M&A Short-term considerations: Impact from acquired companies last 12 months
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Otherinformation •New CEO from 5th of January•CFO transition •The evaluation of change in listing venue in the latter stage in the evaluation process. Page 26SmartCraft Q3 2025
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Q&ASmartCraft Q3 2025 Page 27November 4th, 2025