#118 Aug 2021 www.acast.com Acast For The Stories. JAN-JUN 2021 INTERIM STATEMENT FINANCIAL HEARING#2DISCLAIMERS FORWARD LOOKING STATEMENTS This presentation includes forward-looking statements, including statements reflecting management's current views relating to the growth of the market, future market conditions, future events, financial condition, expected operational and financial performance, including, in particular the following: - Our goals, strategies, planning assumptions and operational or financial performance expectations; - Industry trends, future characteristics and development of the markets in which we operate; - Our future liquidity, capital resources, capital expenditures, cost savings and potential profitability; - The expected demand for our existing and new products and services as well as plans to launch new products and services; - The ability to deliver on future plans and to realize potential for future growth; - The time to integrate any acquired entities and businesses; - Technology and industry trends. The words "believe," "expect," "foresee," "anticipate," "assume," "intend," "likely," "projects," "may," "could," "plan," "estimate," "forecast," "will," "should," "would," "predict," "aim," "ambition," "seek," "potential," "target," "might," "continue," or, in each case, their negative or variations, and similar words or expressions are used to identify forward-looking statements. Any statement that refers to expectations, projections or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. We caution investors that these statements are subject to risks and uncertainties many of which are difficult to predict and generally beyond our control that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Important factors that could affect whether and to what extent any of our forward-looking statements materialize include, but are not limited to, the factors described in the section Risk factors in the most recent Annual Report and/or Prospectus and in our quarterly reports. These forward-looking statements also represent our estimates and assumptions only as of the date that they were made. We expressly disclaim a duty to provide updates to these forward-looking statements, and the estimates and assumptions associated with them, after the date of this presentation, to reflect events or changes in circumstances or changes in expectations or the occurrence of anticipated events, whether as a result of new information, future events or otherwise, except as required by applicable law or stock exchange regulation. This presentation does not constitute an offer to sell, or the solicitation of an offer to buy, any of our securities. It does not constitute a prospectus or prospectus equivalent document and investors should not make any investment decision in relation to any shares referred to in this presentation. A AUDIT All financials presented for Jan - Jun 2021 are unaudited.#3Aca Acas Ross Adams CHIEF EXECUTIVE OFFICER In the "Room" Emily Villatte CHIEF FINANCE OFFICER & DEPUTY CEO 3 A#401 Acast in Brief A#5#6ooo 0= WEBPAGE CREATOR HOST This Is How The Internet Works ATX HTML e O S WEB BROWSERS INTERNET USERS 6 A#7DI PODCASTERS Podcasting Works The Same Way ›A ▸ HOST RSS A DEEZER (C- DO STITCHER Q (D)) PODCATCHERS LISTENERS 7 A#811:09 The Economist 1x A case rests, a city does not: Dere The Intelligence-20 April 2021 The Intelligence (13 30 *** No Matter Where And How Listeners Consume Their Podcasts... PODCATCHERS music o pidcastine thi. 8 C Apple CarPlay DC SMART DEVICES & NEXT GENERATION AIRPODS android auto amazon alexa Google Assistant () D) S C M Blogs & Social Media STITCHER polestar T TESLA O Cortana EMBEDDED PLAYERS & WEB CONSUMPTION ...ACAST MONETIZES THE LISTENS - NOT THE APP Acast 8 A#9ABOUT ENABLING 31,000+ SHOWS TO GROW THEIR AUDIENCE AND MAKE MONEY Acast - A Global Podcasting Success Story A UNIQUE GLOBAL INFRASTRUCTURE PLATFORM FOR THE PODCASTING INDUSTRY GIVING ADVERTISERS ACCESS TO THE MOST IMMERSED AUDIENCES (1) Total Acast's platform listens adhering to IAB 2.0 standards. Trailing Twelve Months as at the current reporting period. (2) Total Net sales CAGR for 2018 to 2020, Source: Acast Annual Reports (3) Trailing Twelve Months as at the current reporting period. (4) Source: Company information, Prospectus TRACK RECORD ~3.4BN TOTAL LISTENS TTM(¹) 81% NET SALES CAGR(2) SEK 804m NET SALES TTM (3) 37% GROSS MARGIN OPPORTUNITY USD ~30BN TAM FOR PODCASTING OF WHICH 28Bn IS THE SIZE OF TODAY'S RADIO ADVERTISING MARKET PRESENT IN 12 MARKETS >40-80% MARKET SHARE IN CORE EUROPEAN MARKETS GROWING AT PACE IN ALL MARKETS WHERE WE PLAY (4) (4) 9 A#10Acast's Vision We will build, champion and supercharge a thriving, profitable, fair and sustainable open ecosystem for all the world's podcasts and empower the creator economy Acast's Mission To be the most creator-centric podcast company, building the most innovative and world-class products, tools and services, allowing any podcaster to grow and monetize their shows to their full potential What We Do At Acast Ensure Acast becomes the podcast marketplace of the world by connecting and winning the trust of both creators and advertisers 10 A#1102 CEO Update A#12130% NET SALES GROWTH Financial Highlights Q2-2021 134% organic net sales growth after adjusting for currency effects 37% GROSS MARGIN A healthy gross margin in line with he same quarter in the prior year -33% EBITDA MARGIN A material improvement on Q2-20 EBITDA margin of -45% The Adj. EBITDA margin after eliminating items affecting comparability was -21% (-45%) 12 A#13Business Highlights - Q2 2021 Listens reach 880M (701M) growing 26% as thousands of shows join the platform reaching 31,000 at the end of the quarter and ARPL increases by 86% to SEK 0.26 (0.14) Continued roll out of Acast+ Beta generating important insights (full launch later this year) Conclusion of IPO on Nasdaq First North Premier Growth Market and repayment of EIB loan 13 A#14Listens reach 880M in Q2-21 31,000+ Shows A SELECTED KEY SIGNINGS Q2 THE YOUNG TURKS (US) PANTHEON (US) DATE NIGHT (US) ADAM BUXTON (UK RE-SIGNING) SCROOBIUS PIP (UK RE-SIGNING) JOCKE & JONNA (SE) CANADALAND (CA) EDELTALK - MIT DOMINIK & KEVIN (DE) EL UNIVERSAL (MX) EQUITY MATES (AU) IRISH TIMES (IE) MONTREUX COMEDY FESTIVAL (FR) RELATOS DE LA NOCHE (MX) 14 A#15Acast+ 13:06 https://plus.acast.com/s/the-tommy Favourites Apple W Wikipedia a 123 iCloud f Facebook N qwe r t y u G Google Twitter space Cancel i O p sdfghjk I Y . Yahoo BBC X C vbnm X go SH Acast#1603 Financial Review A#17Net Sales (SEKm) Q2-21 vs Q2-20 98 Q2-20 +130% Triple Digit Net Sales Growth - 130% 227 Q2-21 Triple digit net sales growth of 130% Q2-21 vs Q2-20 Net sales growth is mainly driven by increase in monetization of listens and is supported by increased advertising spending making up >90% of net sales Quarterly Net Sales (SEKm) Organic Net sales YoY growth Net sales YOY growth 73 81 Q1-19 Q2-19 85 123 +55% 113 Q3-19 Q4-19 Q1-20 +22% 98 Organic net sales growth of 134% adjusted for currency effects +66% 140 +95% 240 +74% 197 134% 130% 227 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q2-21 organic net sales growth of 134% Q2-20 was impacted by lower advertising spend caused by the Covid-19 pandemic, some of which was recovered in Q4-20 17 A#18Gross Profit (SEKm) . . Gross Profit Gross Margin (%) 37 37,1% Q2-20 Gross profit of MSEK 83 in Q2-21, which is a 127% increase vs Q2-20 A Healthy 37% Gross Margin 83 36,5% Q2-21 Gross profit margin remains at a healthy 37% in Q2-21 compared to Q2-20 Q2-21 saw a slightly higher contribution from sales of sponsorships, which carry a lower gross margin than ads, when compared to Q2-20 Quarterly Gross Profit (SEKm) Gross Profit Gross Margin (%) 27 36,9% Q1-19 29 36,3% 27 32,4% 45 36,7% Q2-19 Q3-19 Q4-19 40 35,3% 37 37,1% 50 35,9% 93 38,7% 71 36,0% 83 36,5% Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Gross profit continues its upwards growth trajectory Gross profit in Q4 is impacted by the same seasonality as sales, i.e. the strongest quarter of the year is Q4 18 A#19EBITDA (SEKM) . EBITDA EBITDA margin % -44 -45,0% Q2-20 EBITDA Margin Improves -33,0% -75 02-21 As the organization continues to grow revenues faster than operating expenses the EBITDA margin has improved from -45% in Q2-20 to -33% in Q2-21 EBITDA in Q2-21 was -75 MSEK (-44), which was heavily impacted by IPO related costs Adj. EBITDA (SEKm) . . Adj. EBITDA Adj. EBITDA margin % -44 -45,0% Q2-20 -21,0% -47 Q2-21 When adjusting for items affecting comparability (mainly IPO related costs) the Adj. EBITDA margin has improved from -45% in Q2-20 to -21% in Q2-21 EBITDA in Q2-21 was -47 MSEK (-44) 19 A#20Net Sales (SEKm) CBIT(¹) (SEKM) Europe ● . 57 Q2-20 -CBIT Margin in % 6 9,7% Q2-20 +174% Positive Profit Contribution From All Segments 157 Q2-21 20 12,7% Q2-21 Net sales in Europe increased by 174% in Q2-21 vs Q2-20 All markets within Europe contributed to this growth, including markets already holding significant market share (UK and SE) Europe also includes newer growth markets such as Norway, Denmark, France, Germany and Ireland. (1) CBIT refers to a local market or segment's operating profit before allocation of global costs Americas Organic net sales growth of 84% adjusted for currency effects 30 Q2-20 CBIT Margin in % -11,0% -3 Q2-20 +65% 49 Q2-21 5 11,0% Q2-21 Americas growth was heavily impacted by currency and underlying organic net sales growth for the segment was 84% Americas local operating profit positive in Q2-21. Americas mainly includes the US but also newer growth markets Mexico and Canada Other Markets 11 Q2-20 CBIT Margin in % -1 -8,4% Q2-20 +79% 20 Q2-21 1 4,4% Q2-21 Mainly driven by growth in Australia Other Markets also include NZ, and an international sales team 20 A#21Listens Listens in Millions -ARPL (1) . . ● 701 0,14 Q2-20 Listens Monetization Continues to Improve +26% 880 0,26 Q2-21 Listens increased by 26% compared to Q2-20 Q2-21 listens were negatively impacted by a bug in listens consumed on Apple devices. The bug was consequently fixed during Q3. ARPL has increased over time due to more effective monetization Quarterly Listens Listens in Millions -ARPL 419 0,17 476 0,17 459 0,18 516 0,241 603 0,19 Note: Number of listens per year 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. (1) Net sales per listens in SEK. 701 |0,14 809 0,17 863 0,28 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 872 0,23 Q1-21 There has been an increase in listens over the recent quarters as the number of shows on Acast grows and as the listening to existing shows grows in paralell 880 0,26 Q2-21 21 A#22Q2-20 Operating Cash Flow (SEKm) Increase Decrease . 0 -10 -20 -30 -40 -50 -60 -70 -42,2 Operating Activities Operating Cash Flows Impacted by IPO Costs Total operating cash flow of SEK -25.7 million in Q2-20 16,55 Working Capital TOTAL -25.7 Q2-21 Operating Cash Flow (SEKm) Increase Decrease . 0 -10 -20 -30 -40 -50 -60 -70 -59,1 Operating Activities Total operating cash flow of SEK-64.5 million in Q2-20 -5,35 Working Capital TOTAL -64.5 22 A#23Non-Recurring Items and IPO Impact Items affecting comparability of SEK 31,212 thousand. Of these SEK 35,521 thousand arose as a result of the IPO and SEK -4,310 thousand relate to PPP loan forgiveness in Q2-2021. Financial costs were primarily driven by the repayment of the loan-element of the quasi-equity instrument Acast had with the European Investment Bank (EIB). The repayment resulted in a SEK 99,729 thousand financial cost, but the remaining treatment of the combined quasi-equity instrument resulted in a net equity increase of SEK 25,540 thousand. Cash increase from new share issue of SEK 1,249,135 thousand net of associated costs. 23 A#2404 Recent Events & Upcoming Areas of Focus A#25A Recent Events & Upcoming Areas of Focus Crooked Media Partnership for International Sales British Podcast Awards Continued roll our of Acast+ Podcast Movement US 25 A#2605 Q&A A#27Aca Acas Ross Adams CHIEF EXECUTIVE OFFICER Q&A Emily Villatte CHIEF FINANCE OFFICER & DEPUTY CEO 27 A#28A Follow us on Investors.acast.com/subscribe Medium.com/acast 28 A#29Acast For The Stories.#30Appendix A#31Note: Jan-Jun 2021 figures are unaudited Condensed consolidated statement of profit or loss SEK thousand Net sales Cost of content Gross profit Sales and marketing costs Administration expenses Product development costs Other income Operating loss Financial income Financial costs Loss before income tax Income tax expense Loss for the period 2021 2020 2021 2020 2020 Note Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jan-Dec 4 226,635 98,454 424,069 211,687 591,530 -143,820 -61,894 -270,144 -135.184 -372,103 82,815 36,560 153,925 76,503 219,427 Earnings per share, based on loss for the period attributable to Parent Company shareholders: Basic earnings per share, SEK Diluted earnings per share, SEK -71,213 -68,288 -32,574 4,310 -84,951 15,227 -109,940 -179,665 -78 -179,743 -1.28 -1.28 -39,410 -121,891 -28,257 -112,847 -20,833 -53,447 502 4,873 -51,439 -129,388 9 -1,266 -58,858 40,329 -2,615 -138,323 -3,695 -18,503 -57,592 -227,383 -101,732 -166,996 -0.38 -0.38 -81,279 -176,883 -56,695 -112,216 -37,148 -79,743 877 538 -1.78 -1.78 -98,082 -148,538 45 -1,591 -2,231 -5,225 -228,974 -103,964 -172,222 45 -0.86 -0.86 -1.36 -1.36 31 A#32Condensed consolidated statement of financial position SEK thousand ASSETS Non-current assets Goodwill Intangible assets Tangible assets Right-of-use assets Financial assets Deferred tax assets Total non-current assets Current assets Accounts receivable Other receivables Prepaid expenses and accrued income Cash and cash equivalents Total current assets TOTAL ASSETS Note: Jan-Jun 2021 figures are unaudited Note 30 June 2021 25,496 34,354 2,102 49,569 2,619 202 114,343 261,199 20,444 20,376 1,402,608 1,704,628 1,818,971 30 June 2020 28,058 25,510 3,228 56,159 2,235 1,414 116,604 118,143 2,345 14,270 50,923 185,682 302,285 31 Dec 2020 24,485 27,303 2,396 47,975 2,047 433 104,639 279,108 3,120 12,172 288,599 582,999 687,638 SEK thousand EQUITY AND LIABILITIES EQUITY Share capital Other paid in capital Translation reserves Retained earnings (including loss for the period) Total equity attributable to Parent company shareholders LIABILITIES Non-current liabilities Lease liabilities Long-term loans from credit institutions Deferred tax liabilities Total non-current liabilities Current liabilities Accounts payable Other payables Current tax liabilities Lease liabilities Accrued expenses and prepaid income Total current liabilities TOTAL EQUITY AND LIABILITIES Note 30 June 2021 1,139 2,267,800 -3,557 -758,506 1,506,876 28,391 7,847 36,237 63,624 44,247 20,937 147,049 275,857 1,818,971 30 June 2020 856 591,372 -238 -474,238 117,753 39,408 6,350 45,759 19,149 37,085 1,217 15,206 66,116 138,773 302,285 31 Dec 2020 856 840,221 483 -535,655 305,905 32,769 100,361 6,613 139,743 50,012 45,579 874 13,994 131,532 241,991 687,638 32 A#33Condensed consolidated statement of cash flows SEK thousand Operating activities Operating loss Adjustments for non-cash items Interest received Interest paid Income taxes paid Changes in working capital Accounts receivable (increase-/ decrease +) Other current receivables (increase - / decrease +) Accounts payable (increase + / decrease -) Other current liabilities (increase + / decrease -) Total change in working capital Cash flows from operating activities Note: Jan-Jun 2021 figures are unaudited Note 2021 2020 2021 2020 Apr-Jun Apr-Jun Jan-Jun Jan-Jun -84,952 27,836 -103,964 -148,538 22,099 23,222 -1,115 -810 -59,103 -42,205 -90,735 -83,854 -128,950 45 -164 -3,515 -1 -2,249 263 -23,700 -57,321 17,037 -32,224 -16,704 18,365 6 -129,389 42,027 -10,757 -3,373 42,413 -25,544 45 13,554 -1,121 -913 28,721 -8,441 -169,983 2020 Jan-Dec -5,327 -4,105 -9,788 32,209 1,600 10,643 12,112 -5,351 16,552 27,374 -11,445 -25,653 -64,452 -63,361 -95,299 21,264 92,974 -59,850 -188,800 SEK thousand Investing activities Investment in equipment Investment in intangible assets Long-term asset (increase - / decrease +) Cash flows from investing activities Financing activities Proceeds from borrowings Repayment of loans Principal elements of lease payments Long-term incentive programs Issue of new shares Cash flows from financing activities Cash flows for the period Cash and cash equivalents at the beginning of the period Effect from movements in exchange rates on cash and cash equivalents Cash and cash equivalents at the end of the period Note 2020 2021 2020 2020 2021 Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jan-Dec -37 -7,155 -216 -7,408 -101,889 -4,909 49,448 1,249,135 1,191,786 1,119,926 286,701 -4,020 -419 -103 -4,974 -15,258 190 -469 -5,202 -15,831 -101,889 -3,875 -8,237 682 49,382 81 1,249,135 -3,112 1,188,391 -33,967 1,109,200 87,810 -2,919 288,599 4,809 1,402,608 50,923 1,402,608 -1,355 -10,074 -57 -11,486 -7,368 682 81 -6,605 165,927 -1,614 -1,122 -17 089 50,923 19 -18,192 -113,390 126,253 100,361 -16,729 657 248,956 333,245 165,927 -3,591 288,599 33 A#34Condensed consolidated statement of changes in equity, cont. Opening balance at 1 January 2021 Loss for the period Other comprehensive income Total comprehensive income for the period Transactions with owners Issued warrants Utilized Warrants Repurchased warrants Net issue of ordinary shares Costs related to listing Employee share schemes - value of employee services Total transactions with owners Closing balance at 30 June 2021 Note: Jan-Jun 2021 figures are unaudited Note Share capital 856 28 254 282 1,138 Equity attributable to the equity holders of the parent company Retained earnings (including loss for the period) -535,656 -228,973 Other paid in capital 840,221 26 49,334 -72 1,425,018 -50,643 1,423,663 2,263,884 Translation reserves 483 -3,666 -3,666 -3,183 -228,973 9,666 9,666 -754,963 Total equity 305,905 -228,973 -3,666 -232,639 26 49,362 -72 1,435,272 -50,643 9,666 1,433,611 1,506,876 34 A#35Acast For The Stories.