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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Nexxen Second Quarter 2025 Earnings Call August 13, 2025 © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Introduction to Speakers and Safe Harbor Statement This presentation has been prepared by Nexxen International Ltd. (the "Company" or "Nexxen"). This presentation and the accompanying oral presentation contain forward-looking statements. These statements may relate to, but are not limited to: statements regarding anticipated financial results for full year 2025 and beyond; anticipated benefits of Nexxen’s strategic transactions and commercial partnerships; anticipated features and benefits of Nexxen’s products and service offerings, including anticipated benefits relating to the launch of nexAI; Nexxen’s positioning for accelerated growth and continued future growth; Nexxen’s medium- to long-term prospects; management’s belief that Nexxen is well-positioned to benefit from future industry growth trends and Company-specific catalysts; the Company’s plans with respect to its cash reserves as well as ongoing and future share repurchase programs and further investment in VIDAA; the anticipated benefits from the renewed and expanded strategic partnership with VIDAA; the anticipated impact of the Company’s generative AI initiative and its ability to contribute to the Company’s growth; management’s expectations to continue investments in technology, data and generative AI throughout 2025, and the anticipated impact of these investments; as well as any other statements related to Nexxen’s future financial results and operating performance. These statements are neither promises nor guarantees but involve known and unknown risks, uncertainties and other important factors that may cause Nexxen’s actual results, performance or achievements to be materially different from its expectations expressed or implied by the forward-looking statements, including, but not limited to, the following: negative global economic conditions, including risks related to tariff impacts or policy shifts (including trade negotiations or enforcement actions) that could materially affect market sentiment, consumer behavior and advertising demand; global conflicts and war, including the war and hostilities between Israel and Hamas, Hezbollah, the Houthis in Yemen and Iran, and how those conditions may adversely impact Nexxen’s business, customers and the markets in which Nexxen competes; changes in industry trends; and other negative developments in Nexxen’s business or unfavorable legislative or regulatory developments. Nexxen cautions you not to place undue reliance on these forward-looking statements. For a more detailed discussion of these factors, and other factors that could cause actual results to vary materially, interested parties should review the risk factors listed in the Company’s most recent Annual Report on Form 20-F, filed with the U.S. Securities and Exchange Commission (www.sec.gov) on March 5, 2025. Any forward-looking statements made by Nexxen in this presentation speak only as of the date of this presentation, and Nexxen does not intend to update these forward-looking statements after the date of this presentation, except as required by law. In addition to financial information presented in accordance with the International Financial Reporting Standards (“IFRS”), this presentation includes certain non-IFRS financial measures, including, but not limited to, Contribution ex-TAC, Adjusted EBITDA, Adjusted EBITDA Margin, Non-IFRS Net Income, and Non-IFRS Diluted Earnings per Share. These non-IFRS financial measures are not intended to be considered in isolation from, as substitutes for, or as superior to, the corresponding financial measures prepared in accordance with IFRS. You are encouraged to evaluate these adjustments and review the reconciliation of these non-IFRS financial measures to their most comparable IFRS measures, and the reasons we consider them appropriate. It is important to note that the particular items we exclude from, or include in, our non-IFRS financial measures may differ from the items excluded from, or included in, similar non-IFRS financial measures used by other companies. See IFRS / Non- IFRS Reconciliation tables included in the appendix of this presentation for: "Revenue to Contribution ex-TAC," "Total Comprehensive Income (Loss) to Adjusted EBITDA," and "Net Income (Loss) to Non-IFRS Net Income". This presentation contains statistical data, estimates, and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation. Nexxen, and the Nexxen logo are trademarks of Nexxen International Ltd. in the United States and other countries. All other trademarks are the property of their respective owners and are used for reference purposes only. Such use should not be construed as an endorsement of the platform and products of Nexxen. The use of the word “partner” or “partnership” in this presentation does not mean a legal partner or legal partnership.
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Strong Q2 performance driven by data and tech licensing revenue growth Fully integrated tech and data stack, AI innovations and expanding CTV partnerships position Nexxen for long-term growth and AdTech leadership
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. DATA PLATFORM SUPPLY PLATFORM DEMAND PLATFORM © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Launched nexAI; already releasing an AI -powered DSP assistant, generative AI capabilities within the Nexxen Data Platform and the nexAI Discovery Assistant Ongoing AI initiatives and investments to focus on customer -facing innovation and internal efficiency , supporting long-term growth and margin expansion
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Nexxen secured exclusive North American ad monetization rights on VIDAA media and global ACR data exclusivity Focused on scaling North American revenue, increasing international monetization and growing data and measurement partnerships © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Increasing investment in VIDAA by $35M, as announced in Q3, to accelerate their North American CTV expansion Renewed and expanded strategic partnership through 2029
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Continuing to attract top-tier commercial leaders from major industry players globally
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Increasing visibility with Wall Street post- trading structure changes © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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+108 New actively spending first- time advertiser customers +43 New enterprise self-service DSP customers +86 New supply partners Q2 Business Wins © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Growing CTV partnerships, unmatched end-to-end capabilities, strong execution and continued investments in platform innovation position Nexxen to deliver greater long-term value to customers and shareholders
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. *As percentage of Contribution ex-TAC© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. $87.8 M $85.0 M $28.4 M $29.9 M 34% Contribution ex-TAC (+6% y/o/y) Programmatic Revenue (+8% y/o/y) CTV Revenue (+1% y/o/y) Adjusted EBITDA (+12% y/o/y) Adjusted EBITDA Margin* (vs. 32% in Q2 2024) Q2 2025 Financial Highlights Generated record Q2 Contribution ex-TAC, programmatic revenue and CTV revenue, alongside increased Adjusted EBITDA
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. $131.5 M Cash and Cash Equivalents as of 06/30/2025 $0.29 Q2 2025 Non-IFRS Diluted EPS* Cash Flow, Liquidity and EPS $50 Million undrawn and remaining on Nexxen’s revolving credit facility and no long-term debt $17.4 M Q2 2025 Net Cash from Operating Activities *Non-IFRS Diluted EPS shown on a post-reverse-split basis
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Capital Allocation Updates • ~3.9M shares repurchased in Q2, an investment of ~$39.1M • Repurchased ~34.3% of shares outstanding from March 1, 2022 through June 30, 2025 • Investing additional $35 million in VIDAA • Considering implementing a new share repurchase program following completion of current program • Exploring strategic opportunities to expand data footprint, enhance AI capabilities, accelerate core global revenue or enter new high growth markets © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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Reaffirming Full Year 2025 Guidance ~$380 M FY 2025 Contribution ex-TAC 90% 2025 Programmatic Revenue as a % of FY 2025 Revenue ~$125 M FY 2025 Adjusted EBITDA © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Thank you © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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Appendix © 2025 Nexxen International. All rights reserved. Confidential information of Nexxen.
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Reconciliation of Total Comprehensive Income (Loss) to Adjusted EBITDA Three months ended June 30 Six months ended June 30 2025 2024 % 2025 2024 % ($ in thousands) Total comprehensive income (loss) 11,256 2,924 %285 13,647 (4,362) %413 Foreign currency translation differences for foreign operation (2,590) (8) (3,348) 404 Tax expenses 1,437 2,350 4,313 2,125 Financial expenses (income), net (1,399) 1,091 (2,459) 1,636 Depreciation and amortization 15,521 15,504 30,788 31,297 Stock-based compensation expenses 5,709 3,444 8,609 6,078 Other expenses, net - 1,488 - 1,488 Delisting related one-time costs - - 1,520 - Adjusted EBITDA 29,934 26,793 12% 53,070 38,666 37%
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Reconciliation of Revenue to Contribution ex -TAC Three months ended June 30 Six months ended June 30 2025 2024 % 2025 2024 % ($ in thousands) Revenue 90,948 88,577 3% 169,278 163,009 4% Cost of revenue (exclusive of depreciation and amortization) (12,057) (15,557) (23,256) (30,095) Depreciation and amortization attributable to cost of revenue (12,531) (11,449) (24,825) (23,215) Gross profit (IFRS) 66,360 61,571 8% 121,197 109,699 10% Depreciation and amortization attributable to cost of revenue 12,531 11,449 24,825 23,215 Cost of revenue (exclusive of depreciation and amortization) 12,057 15,557 23,256 30,095 Performance media cost (3,141) (5,449) (6,483) (10,199) Contribution ex-TAC (Non-IFRS) 87,807 83,128 6% 162,795 152,810 7%
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© 2025 Nexxen International. All rights reserved. Confidential information of Nexxen. Reconciliation of Net Income (Loss) to Non -IFRS Net Income Three months ended June 30 Six months ended June 30 2025 2024 % 2025 2024 % ($ in thousands) Net income (loss) 8,666 2,916 %197 10,299 (3,958) %360 Amortization of acquired intangibles 5,912 7,042 11,782 14,099 Delisting related one-time costs - - 1,520 - Stock-based compensation expenses 5,709 3,444 8,609 6,078 Other expenses, net - 1,488 - 1,488 Tax effect of Non-IFRS adjustments (1) (2,083) (2,306) (3,367) (3,951) Non-IFRS net income 18,204 12,584 45% 28,843 13,756 110% Weighted average shares outstanding—diluted (in millions) (2) (*) 62.0 71.1 63.8 71.7 Non-IFRS diluted earnings per share (in USD) (*) 0.29 0.18 66% 0.45 0.20 135% (1) Non-IFRS net income includes the estimated tax impact from the expense items reconciling between net income (loss) and non-IFRS net income (2) Non-IFRS earnings per share is computed using the same weighted-average number of shares that are used to compute IFRS earnings (loss) per share (*) Prior period results have been retroactively adjusted to reflect the Company’s two-for-one reverse share split and the changes in par value from NIS 0.01 to NIS 0.02 effected on February 14, 2025. See also Note 1a of the Company’s annual report on Form 20-F filed on March 5, 2025 for details.