#1Acast Interim Report Jan-Mar 2023 9 May 2023 www.acast.com A#2Hello! We're Acast. A#3A In The "Room" Ross Adams CHIEF EXECUTIVE OFFICER Emily Villatte CHIEF FINANCIAL OFFICER & DEPUTY CEO 3 A#41 CEO Update#511% NET SALES GROWTH Financial Highlights Q1-2023 36% GROSS MARGIN A stable start to the year -18% Adj. EBITDA MARGIN 5 A#6PODCAST CREATORS VICE FT Perne THAT PETER CROUCH PODCAST BACKG Acast's Business Strategy Is To Create the world's most valuable podcast marketplace Rod EO The The New York Times Economist VAR BBC NEWS 1.3Bn OFF HERU Mi ➡PBS 100,000 CO UNQUALIFIED AKI TRAFFIC LISTENS / QTR SHOWS (1) Uniques defined as unique combination of IP adress and Device Acast We're doing that by providing a world-class experience for podcasters, advertisers and listeners, laying the foundations for robust revenue streams for both Acast and its stakeholders. PERFORMANCE BRIDGE FRET ADVERTISERS & LISTENERS dentsu AECIS amnet OXFORD. accuen WPP VIVAKI K AD RESULTS HAVAS MEDIA C IFG M VERITONE. OmnicomMedia Group H.M Google TELE2 MISS MOTORS +100M Microsoft LEGO EURO SPORT XAXIS BOSE 2,300 ADVERTISERS/ YEAR ва ба ва ба MONTHLY UNIQUES (¹) 6 A#7PODCAST CREATORS Increased focus on monetization of existing inventory... VICE FT Perne THAT PETER CROUCH PODCAST BACKG Rod EO The The New York Times Economist VAR BBC NEWS 1.3Bn OFF HERU Mi ➡PBS 100,000 CFC UNQUALIFIED AKI TRAFFIC LISTENS / QTR SHOWS (1) Uniques defined as unique combination of IP adress and Device Acast ...following attainment of 100K/100M+ marketplace milestones. PERFORMANCE BRIDGE PRET ADVERTISERS & LISTENERS dentsu AECIS VERITONE. HAVAS MEDIA C IFG M accuen WPP VIVAKI K AD RESULTS H.M Google TELE2 amnet OXFORD. OmnicomMedia Group MISS MOTORS +100M XAXIS Microsoft LEGO EURO SPORT BOSE 2,300 ADVERTISERS/ YEAR ба ба ба ба MONTHLY UNIQUES (¹) 7 A#8V 0.0. |||| Automation drives further marketplace value Self-serve shows promising first results podpod Home Episodes News Craft Business Launch partners The craft and business of podcasting Acast to roll out interchangeable ad slots across network Trial version of feature led to 10% increase in Acast marketplace capacity by Reem Makari | 30 March 2023 f in Interchangeable Ad Slots increase advertising inventory >10% 8 A#9Higher Ground chooses Acast for increased independence and monetization potential Acast HIGHER GROUND#10Higher Ground's podcast portfolio includes some of the industry's most iconic shows A SPOTIFY ORIGINAL Renegades BORN IN THE USA A SPOTIFY ORIGINAL HIGHER GROUND THE MICHELLE OBAMA PODCAST A SPOTIFY ORIGINAL { SHOW THE- BIG HITS 10 A#11V 1st Full ESG Report Publication with Annual Report 2022 "My fundamental belief is that listening makes the world better." John Harrobin Chair, Board of Directors 11 A#12Financial, technological and sustainable growth • Fostering technological innovation in an open podcast ecosystem • Building a scalable and financially sustainable business model . Minimize our CO2 emissions • Transparency in . communication related to our sustainability work Four strategic sustainability areas Diversity, equity, inclusion and well-being Providing a safe work environment, fostering employee wellbeing, equity, diversity and inclusion in all of our business Responsible and inclusive content Supporting underrepresented voices within podcasting to promote diversity and inclusion Democratizing podcasting to enable more podcast creators to earn money from their craft Working to deliver a positive experience for our listeners Compliance with laws and regulations and ethics Developing anti-bribery and corruption processes within podcasting • Providing a positive, brand- safe environment for advertisers • Limiting advertising from negative impact industries . Further develop privacy and data security practices within podcasting 12 A#13Acast promotes underrepresented voices CALL ME DISABLED Celebrate BLACK HISTORY MONTH on Acast AUDIO PRI Acast + PARADE 13 A#142 Financials#15Monetization of existing content portfolio improved Q1 Listens YoY ● 1256 0,24 Q1-22 +2% 1 283 0,26 Q1-23 Listens (Millions) ARPL (SEK) Listens grew +2% compared to Q1-22 ARPL of 0.26 SEK grew +8% compared to Q1 -22 (0.24 SEK) as the business has an increased focus on monetization of existing inventory Quarterly Listens 872 0,23 Q1-21 880 Note: Number of listens based on Acast's IAB 2.0 certified measurement. A listen is defined as a minimum download of at least 60 seconds of the episode and Acast only count one listen per listener per episode within 24 hours. ARPL: Average Revenue Per Listen measured in SEK 0,26 891 0,30 1091 0,31 1 256 10,24 1 238 0,26 1318 0,24 Listens (Millions) -ARPL (SEK) 1327 0,34 Number of shows reached 100,000 - with listens remaining c. 1.3 billion 1 283 0,26 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 15 A#16Q1 Net Sales YoY (SEKM) . Net Sales growth of 11% - Comps easing into H2 . 298 Q1 2022 +11% 331 Q1 2023 Revenues grew by 11% in the quarter FX contributed +3% to net sales growth and the acquisition of Podchaser contributed +2% Organic growth was 6% in the quarter Quarterly Net Sales (SEKm) 74% 197 130% 227 89% 265 336 40% 298 51% 316 39% 322 21% 454 35% Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Comparative growth in Q1-22 at 51% represents the 'toughest comp' of the year for net sales growth Comparatives are easing into the second half of the year Net Sales -YOY Growth 331 11% Q1-23 16 A#17Net Sales (SEKm) 189 Q1-22 CBIT(¹) (SEKm) CBIT CBIT margin, % 32 17% Q1-22 Europe +14% Stronger start in Europe and Other Markets whilst North America remains subdued 217 Q1-23 38 17% Q1-23 • Europe delivered 14% net sales growth in Q1 despite the macroeconomic climate Profit contribution margin (CBIT %) was stable at 17% (1) CBIT refers to a local market or segment's operating profit before allocation of global costs Net Sales (SEKm) -CBIT 84 CBIT margin, % Q1-22 CBIT(¹) (SEKm) North America -8% -6 -1% 83 Q1-23 -19% -16 Q1-22 Q1-23 North America net sales declined by -1% as growth remained subdued Podchaser contributed to Q1 Net Sales growth by 7% CBIT margins equally sees a decline to -19% (-8 %) as some selected investments continue Net Sales (SEKm) 25 . Q1-22 CBIT(¹) (SEKm) CBIT -CBIT margin, % Other Markets 2% T Q1-22 +24% 31 Q1-23 3% Q1-23 Other Markets deliver 24% net sales growth representing the segment with the highest growth in the quarter and a marginal increase in contribution profits (CBIT) 17 A#18Gross Margin stable at 36% as SaaS revenues contribute Q1 Gross Profit (SEKm) Gross Profit Gross Margin (%) 106 36% Q1 2022 118 36% Q1 2023 The gross margin in the period was stable at 36% Quarterly Gross Profit (SEKm) Gross Profit Gross Margin (%) ● 36% 71 37% 97 36% 123 36% 106 36% 94 30% 113 35% 157 35% 118 36% Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 The sequential improvement in the gross margin is explained by the SaaS revenues that Podchaser is contributing. 18 A#19Q1 Other Operating Expenses (SEKm) ● 186 Focus on efficiencies continues Q1 2022 197 Q1 2023 Operating expenses increased by 6% to 197MSEK Global costs reduced year on year Increases came from the acquisition of Podchaser as well as increased resources in markets Quarterly Other Operating Expenses (SEKm) 116 Q1-21 172 HPO 149 162 186 206 215 217 197 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Following the reduction of staff in Q3/Q4 of 2022 there is ongoing focus on cost efficiencies 19 A#20EBITDA improves and path to profitability remains on track Q1 Adj. EBITDA (SEKM) . -23% -68 Q1 2022 -18% -61 Q1 2023 Adj. EBITDA Adj. EBITDA margin % Adj. EBITDA improved to -61MSEK (-68MSEK) Adj. EBITDA Margin of -18% compared to -23% in the same quarter last year There were no adjustment items in the quarter; EBITDA equals Adj. EBITDA Quarterly Adj. EBITDA (SEKm) -17% -34 -21% -47 -16% -42 Q1-21 Q2-21 Q3-21 1-8% -28 -23% -68 -31% -98 -23% -75 Adj. EBITDA Adj. EBITDA margin % Q4-21 Q1-22 Q2-22 Q3-22 Adj. EBITDA development is subject to usual seasonality The path to profitability remains on track -7% -31 Q4-22 -18% -61 Q1-23 20 A#21Q1 cash flow from operating activities (SEKm) -88 Q1-22 Strong balance sheet -2 Q1-23 Cash flow from operating activities improved to -2MSEK (-88MSEK) as strong debtors collections in the quarter resulted in a positive impact on working capital Quarterly cash flow from operating activities (SEKm) 1 12 T|*||| -71 -88 Q1-21 -64 Q2-21 Q3-21 -98 -97 Q4-21 Q1-22 Q2-22 Q3-22 -12 Q4-22 The quarter saw strong impact from working capital movements compared to the prior four quarters • The cash balance at quarter end was 851MSEK -2 Q1-23 End Q1 Cash Balance: 851MSEK 21 A#223 Upcoming Areas of Focus#23V Podchaser Upcoming Events Acast Deepening the Acast x Podchaser collaboration O Further development of Self-Serve platform 23 A#244 Q&A#25Follow us on Investors.acast.com/subscribe Acast.com/blog Shows.acast.com/acast-financial-reporting A#26Acast For The Stories.#27Appendix Financial KPIs#28Group financial KPIs and alternative performance measures SEK thousand Net sales Net sales growth (%) Organic net sales growth (%) Gross profit Gross margin (%) EBITDA EBITDA margin (%) Adj. EBITDA* Adj. EBITDA margin (%)* Operating loss Operating margin (%) Adj. operating loss* Adj. operating margin (%)* Items affecting comparability* Loss for the period Cash flow from operating activities Basic and diluted earnings per share (SEK)*** Listens (millions) Average revenue per listen, ARPL (SEK) *2022 adjusted for costs from the acquisition of Podchaser and restructure costs. **Adjustment of cashflow for previous periods has been done. For more information see note 8. For definitions and purpose see note 9, and for reconciliations see note 10. 2023 Jan-Mar 331,297 11% 6% 118,370 36% -60,717 -18% -60,717 -18% -78,022 -24% -78,022 -24% -72,010 -1,659 -0.40 1,283 0.26 2022 Jan-Mar 298,293 51% 40% 106,285 36% -67,832 -23% -67,832 -23% -80,063 -27% -80,063 -27% -73,201 -87,633** -0.41 1,256 0.24 2022 Jan-Dec 1,390,366 36% 26% 469,856 34% -294,949 -21% -272,337 -20% -352,643 -25% -330,031 -24% 22,612 -286,375 -294,284 -1.59 5,139 0.27#29Acast For The Stories.