#1azerion Strategy deep dive Q3 2022 results announcement#2Strategy deep dive Agenda 01 Market overview and Azerion business model 02 Unique value proposition to advertisers 03 Developing content and engaging audiences 04 Growth and M&A case studies 05 Financial performance 06 Q3 2022 results highlights azerion Speakers Atilla AYTEKIN Co-CEO Jurriaan VAN TEUNENBROEK VP Games & Content Sebastiaan MOESMAN CRO Ben DAVEY CFO 2#3Strategy deep dive Disclaimer The following disclaimer applies to this document, any oral or video presentation of the information in this document by Azerion Holding B.V. (Azerion Holding"), Azerion Group N.V. ("Azerion Group") or any person on behalf of Azerion Holding or Azerion Group and any question-and-answer session that follows the oral or video presentation (collectively, the "Information"). In the Information, "Azerion", "Group", "we", "us" and "our" refers to Azerion Group and its subsidiaries. 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Certain financial data included in the presentation consists of alternative performance measures ("non-IFRS financial measures"), including EBITDA and Adjusted EBITDA, which may not be comparable to similarly-titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of Azerion Group and/or Azerion Holding's cash flow based on IFRS. The alternative performance measures are used by Azerion's management to evaluate the business performance and are believed by Azerion's management to be useful to investors. Even though the alternative performance measures are used by management to assess Azerion Group's and/or Azerion Holding's financial position, financial results or liquidity under IFRS, and these types of measures are commonly used by investors, they have important limitations as analytical tools, and the recipients should not consider them in isolation or as a substitute for analysis of Azerion Group's and/or Azerion Holding's financial position or results of operations as reported under IFRS. For all definitions and reconciliations of alternative performance measures please also refer to www.azerion.com/investors. The Information may contain forward-looking alternative performance measures. We are unable to provide a reconciliation of these forward-looking alternative performance measures to the most comparable IFRS financial measure because certain information is dependent on future events some of which are outside the control of Azerion. azerion#4Strategy deep dive Forward-looking statement 8 The Information includes statements, including Azerion Holding's or Azerion Group's financial and operational objectives that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "forecasts", "anticipates", "expects", "intends", "aims", "targets", "seeks", "continues", "could", "can have", "likely", "would", "may", "might", "will" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Past performance of Azerion Holding and Azerion Group cannot be relied on as a guide to future performance. Any forward-looking statements reflect Azerion Holding's and/or Azerion Group's current view and expectations with respect to future events and are subject to risks, uncertainties and assumptions relating to Azerion Holding's and/or Azerion Group's business, results of operations, financial position, liquidity, prospects, growth or strategies, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in Azerion Holding's and Azerion Group's records (and those of its their affiliates) and other data available from third parties. Although each of Azerion Holding and Azerion Group believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. azerion NE Alberto ganó 32.865€ 4:#5Strategy deep dive Q3 2022 results announcement 01 Market overview and Azerion business model Qazerion#6Strategy deep dive - Introduction Digital advertising is growing fast, as audiences move to digital 2.5bn 10 years ago azerion $:. 5bn Today # Internet users 14% -$800bn '22-'26 CAGR 2026 Market size¹ Digital advertising Sourced from ResearchAnd Markets and "Datareportal - Digital 2022: Global overview report"; (1) 2026 digital advertising and marketing market size 6#7Strategy deep dive - Introduction Fragmented digital advertising landscape creates inefficiencies Advertiser SOUL Brands looking to place ads effectively azerion Spends $ Agency Create Buy ads media MERKLE. MDC Partners ROSETTA. AT&T XXX MEDIASMITH mar Jumalt Omnicom Group dentsu [WebVisible yodle success simplified. LBi IPG PUBLICIS GROUPE User data camelot AKQA ¡Crossing HAVAS Fraud detection: Demand-side platform Facilitate digital inventory purchases amazonadvertising MediaMath acuity mbuy Simpli.fi BEESWAX=> choozle DIGILANT PubMatic TURN invitemedia EfficientFrontier. the TradeDesk VIANT. adform Chango dataxu ∞ sitescout getintent TRL/SHIFT ADTHEORENT BRANDSCREEN Google Viewability tracking Ad networks Ad servers aditech kevel OpenX Livelntent DoubleClick Oadgear trueffect ZEDO er adform Match Ad exchange Openx ⓇITHMONE PLYmedia smartyads Magnite ADECN PULSEPOINT gumgum YAHOO! Index¹ Exchange ZENOVIA Data platform Ad services and optimisation uffer Maleting bizo ADMAN eyeota Quantcast: LOTAME Demdex PEER39 e Ramp exelate datantcs Jovian SIGNAL gropeshot bombora Brand safety tracking Supply-side platform Facilitate digital inventory sale PubMatic Magnite Admeld LIFTONA sonobi ReviNet S sharethrough Business intelligence software Adisults Altitude OpenX Identity management Receives $ Publisher SOUL Create online content & place digital ad 7#8Strategy deep dive - Introduction Our integrated model optimises the advertising value chain Advertiser SOUL Agency Sales Demand-side platform Ad networks Supporting advertisers to reach audiences in a simple, cost-effective and brand-safe way azerion Ad services and optimisation Supply-side platform Proprietary technology platform Publisher azerion owned publishers Exclusive publishers Contracted publishers Supporting publishers to maximise revenue and user engagement 8#9Strategy deep dive - Introduction Our integrated model optimises the advertising value chain Advertiser SOUL Agency </> Autom. auction sales Mi Direct sales Demand-side platform Digital ad buying platform and formats Ad networks Supporting advertisers to reach audiences in a simple, cost-effective and brand-safe way azerion B Advertising auction platform Publisher monetisation Ad services and optimisation Supply-side platform I Publisher azerion owned publishers Exclusive publishers Contracted publishers Supporting publishers to maximise revenue and user engagement 9#10Strategy deep dive - Introduction The Azerion mission We help brands improve the way they engage with audiences We entertain audiences azerion Digital publishers Advertisers Consumers Non-game Content Azerion proprietary content Game Game creators Our mission is to be the go-to-partner for advertisers for an easy- to-use, competitively priced and brand-safe digital environment I 10#11Strategy deep dive - Introduction Our scalable platform provides access to a global, diverse and engaged audience, connecting publishers and game creators to advertisers 1.2k+ Employees HQ Amsterdam 28 offices in 24 countries azerion Consumers 500m+ Unique monthly active users 20k+ Game titles Customers Advertisers 400k+ Advertisers 9bn+ Digital ads sold per month¹ Data as of September 2022. (1) Average number of paid impressions served per month. Digital publishers 300k+ Contracted publisher websites 10k+ Exclusive publisher websites Partners Game creators >1k Contracted game creators >250 Average new casual games per month 11#12Strategy deep dive - Introduction Building on solid track record of outperforming market growth Strong and resilient growth ... 127 2018 azerion Adj. EBITDA (EURm) 173 2019 Revenue (EURm) 195 2020 27 308 2021 47 450 + 2022 50+ 2018 revenue based on Dutch GAAP, not fully comparable. 2019 and 2020 audited IFRS figures ...pulling five levers to grow faster than the market il1% Continued integration of past acquisitions driving synergies and efficiencies Increase volume of direct sales Increase volume of publisher monetization services Continuously developing new features and innovating with our technology Grow average revenue per user in our Premium Games 12#13Strategy deep dive Q3 2022 results announcement 02 Unique value proposition to advertisers Qazerion#14Strategy deep dive - Our value proposition to advertisers Our value proposition to advertisers dentsu RENAULT groupm Coca-Cola IFG azerion 15 havas PUBLICIS GROUPE a Omnicom Group manageo 1522 ALEVEE DISNEY les fruits et légumes frais Interiel Crown Commercial Service M Government of the Netherlands We offer digital advertising results as a single service. We provide globally scaled audiences to advertisers in an easy and affordable way and in a safe, highly engaging, fun and quality content environment. We have local teams and expertise to help advertisers find and execute creative ways to really make an impact through advertising. 14#15Strategy deep dive - Our value proposition to advertisers One service, five core elements of value for our clients 101 CONTENT a safe, curated, engaging and high-quality content environment 300k+ trusted publishing partners, 20k+ games When people are in a positive, highly engaging environment, they respond better and more positively to advertising Ⓡ REACH bring competitively priced audiences at a global scale >500m unique users a month Without enough of the right people at the right time in the right place, advertising cannot work TECHNOLOGY efficient and easy to use technology 1bn auctions an hour Technology allows clients to access our platform and execute their strategies everywhere CREATIVE AD FORMATS Display, video, high- impact, mobile, in-app, DOOH, audio, in-game, hyperlocal Up to 20x more engaging formats¹ The message and the format need to impact people in a way that makes them interested and remember the ad azerion Data as of September 2022. (1) User engagement on Azerion's proprietary ad formats according to independent survey commissioned by Azerion. PEOPLE local expert teams that help our clients achieve the results they need 24 markets, >1200 employees Digital advertising can be complicated and people that take ownership of its success are crucial 15#16Strategy deep dive - Our value proposition to advertisers There are specialists in our industry, focusing on a particular vertical Specializing in a single area, companies can maximize their added value on a particular product or service, but they can never take ownership of an advertisers' overall success Integrating all the elements of the digital advertising stack can be costly not only because of the cost of the components but also because of the internal teams and operations needed to run the environment ē CONTENT Tung azerion Playtika The Guardian REACH LiveRamp LOTAME Indicative examples only, not intended to be exhaustive TECHNOLOGY the TradeDesk Magnite digital turbine PubMatic CREATIVE AD FORMATS w weborama PEOPLE INCUBETA dq8a WebAds® the publishers network 16#17Strategy deep dive - Our value proposition to advertisers Azerion wraps all five in one offer Offering an integrated solution brings advertisers more value but we don't see companies taking the vertical integration as far as Azerion. azerion Tung CONTENT Guardian Pinterest Playtika Quantcast REACH Specialized format integrators run a 3rd party ad network on a single format LiveRamp Google LOTAME Indicative examples only, not intended to be exhaustive ३ twitter TECHNOLOGY theTradeDesk digital turbine PubMatic Magnite facebook is ironSource A APPLOVIN azerion smartclip CREATIVE AD FORMATS w weborama PEOPLE Teads INCUBETA dqßa WebAds the publishers network Highly scaled social platforms lack creative ad formats and local support 17#18Strategy deep dive - Our value proposition to advertisers One service, five core elements of value for our clients We are constantly growing our existing business and products and adding new capabilities through acquisitions and partnerships ē mawaong CONTENT a safe, curated, engaging and high-quality content environment HABBO REACH bring competitively priced audiences at a global scale The theguardian H Weather italiaonline Channel skyscanner TECHNOLOGY efficient and easy to use technology PubGalaxy takerate HEADERLIFT improve digital azerion : CREATIVE AD FORMATS Display, video, high- impact, mobile, in-app, DOOH, audio, in-game, hyperlocal INSKIN azerion Indicative examples only, not intended to be exhaustive. Acquisition of Targetspot/Radionomy expected to be completed by the end of 2022 targetspot sublime ADPLAY PEOPLE local expert teams that help our clients achieve the results they need himedia M MEDIA AD HHybrid Theory ÚX 18#19Strategy deep dive - Our value proposition to advertisers We reach over 500m monthly active users with brand-safe content REACH Without enough of the right people at the right time in the right place, advertising cannot work azerion Non-game content The Telegraph theguardian HELLO! H HEARST STYLIST flickr motorsport NETWORK The Chicago Weather Tribune Channel italiaonline MAGAZINE BAUER ebay VICE MEDIA GROUP Skyscanner >400m monthly active users ASSASSINS FREERUNNERS Game content HOTEL HIDEAWAY GOVERNOR POKER3 BUBBLE SHOOTER PRO makaong HABBO >100m monthly active users IN E-commerce voidu GENBA DIGITAL 19#20Strategy deep dive - Our value proposition to advertisers Our value proposition to digital publishers REACH Without enough of the right people at the right time in the right place, advertising cannot work azerion Non-game content The Telegraph theguardian HELLO! H HEARST STYLIST flickr motorsport NETWORK The Chicago Weather Tribune Channel italiaonline MAGAZINE BAUER ebay VICE MEDIA GROUP Skyscanner >400m monthly active users Maximize ad revenue We help publishers grow by giving them access to premium advertisers worldwide, future-proof ad technology and revenue optimization tools Technology | Advertising Sales | Programmatic demand Expand engagement We help publishers supercharge user engagement and boost their earnings by creating additional ad space and attention-grabbing ad formats Content | Ad Formats | Creativity Simplify & nurture growth Experienced, localized support and personalized services by a team of experts come together to overcome any challenges they may face Operations | Financial services | Local support 20#21Strategy deep dive - Our value proposition to advertisers Efficient and easy to use technology We own all the components needed to successfully run digital advertising campaigns and our open platform allows easy integration with external validation, data and inventory providers. TECHNOLOGY Technology allows clients to access our platform and execute their strategies everywhere azerion a DSP (Demand Side Platform) Google DV360 Mediamath SSP (Supply Side Platform) Google Adx Pubmatic Universal Buying Interface (Meta-DSP) Xandr Advertisers & Agencies Xandr Marketplace Delta Projects HybridTheory - Data audiences Advertising Auction Platform (Improve Digital) Publisher monetisation services Infinia Targetspot Websites & Apps Contracted publishers Exclusive publishers Owned portals Consumers 21#22Strategy deep dive - Our value proposition to advertisers Vertical integration maximizes efficiency for all parties TECHNOLOGY Technology allows clients to access our platform and execute their strategies everywhere azerion Illustrative allocation of highly intermediated ad spend vs. Azerion's model Azerion places ad on 3rd party content Traditional ad spend value chain Each intermediary takes out -5-10%¹ DSP SSP User data Fraud detection Viewability tracking Brand safety tracking Business intelligence software Ad serving Dynamic Creative Identity management Digital publishers receive... Fragmented, complex market (1) Management estimates. azerion More efficient, retaining value and sharing it with our clients Digital publishers can receive larger share We act as an efficient one-stop shop Azerion places ad on own content Buying efficiency for advertisers/agencies azerion More revenues in our ecosystem Optimized for advertisers, publishers and Azerion 22#23Strategy deep dive - Our value proposition to advertisers High-impact, creative advertising formats CREATIVE AD FORMATS The message and the format need to impact people in a way that makes them interested and remember the ad azerion HAVAL JOLION SMART MOVE KILL TO CONTIE VITECONTENT From fa to flam Nando! Aste it FER-PER WOLLTO CON WITH Page scroll Premium Fuels Shell V-Power O <-VOICE.F 9:41 AM voice.fi KOTI Oletko sinakin käyttänyt suodatinpussia väärin koko ikäsi? Katso oikeaoppinen tapa 100%+ MIGE Löydätkö sinä-kirjaimen? Kokeile nokkelaa testiä, joka kertoo keskittymiskyvystäsi m Ad swipe Discover the science of efficiency Premium Desktop Skin SWIPE The NEW MONEY or Paramount+ NOW STREAMING PLAY to collect up to 10cpl OFF 1Cap PLAY NOW Video Desktop Skin Specsavers Our latest TV ad delivers. But can you? Collect 10 packages Swipe left to play! Premium Mobile Skin 23#24Strategy deep dive - Our value proposition to advertisers Local expert teams that help get the results advertisers need PEOPLE Digital advertising can be complicated and people that take ownership of its success are crucial azerion Amsterdam HQ Regional offices 24#25Strategy deep dive Q3 2022 results announcement 03 Developing content and engaging audiences Qazerion#26Strategy deep dive - Developing content and engaging audiences Our audiences seek engaging content DIGITAL Device agnostic - Desktop - Mobile Platform agnostic - Web - App azerion SEJU Swere ENTERTAINING Engaging Fun Gamified QUALITY Fast and reliable technology Safe Trust FREE Free to use Freemium 26#27Strategy deep dive - Developing content and engaging audiences Our highly diversified and engaging free to play game content Thousands of Casual Games monetized through advertisement makaong THE The Original BU BLE SHOOTER azerion PRO ΚΟΡΡΕΝ ΚΝΑΡΕΝ QO TA TIMBER MAN Mahlange BALLS RACE Partnership with 1k+ game creators adding >250 Average new casual games per month 20k+ Game titles Data as of September 2022 Average 18 min/day Spent by consumers playing our Casual Games (mobile) 4.8k+ Game portals Nine Premium Games monetized through in-game purchase Social Card Games POKERWORLD Average 80 min/day Spent by consumers playing our Premium Games Metaverse HABBO smest >100m Premium and Casual Game audiences HOTEL Wooz world EAST COAST 00 GOVERNOR POKER3 Owned and operated content, with proprietary technology and data MONOPOLY Poker GOVERNOR PORCR PLAY NOW Jackpor 27#28Strategy deep dive - Developing content and engaging audiences Innovating in the Metaverse and digital collectibles Frontrunners in the Metaverse • 4 metaverse communities with millions of users ● Partnership with advertisers for in-game branding and sale of virtual items Hotel Hideaway opens a virtual Love Island villa with ITV Studios, with 3m visits and avg time spent of 52 min per visitor in the first 30 days love island azerion love HOTEL Innovating with digital collectibles Solid expertise in developing, distributing and monetizing NFTS • Use of NFTs to create playable digital collectibles and enhance user game play experience in Azerion's metaverse Expanding into Web3.0, unlocking collaborations with Metakey, Metaverse HQ, CyberKongz, Coolcats OpenSea Habbo Avatars Created by SulakeOy 11.6K items 0.115 floor price ⠀ 4.5K owners 6.1K volume traded Emerging opportunities • Azerion as a trusted partner of key brands that want to expand into metaverse and digital collectibles Potential cross-selling opportunities within Azerion's platform > GCDS simplex by nuvei Goobit Group Authic Labs BLACKBEARⓇ 28 A#29Strategy deep dive - Developing content and engaging audiences GameDistribution offers unparalleled value proposition to the whole spectrum of game creators on the web From small game studios... Hassle-free distribution and monetisation 100m+ users 4.8k+ portals 400k+ advertisers Azerion's integrated advertising technology Licensed brands azerion miffy MGA Mercis bv ENTERTAINMENT Competitive and flexible model Revenue share model Device agnostic Platform agnostic SMURFS Data as of September 2022 T Hello 小 Kitty SMILEY ATARI ... to large AAA game developers Convert successful AAA titles into free to play GameDistriution's expertise in building engaging free to play casual games GameDistribution leading position for distribution and monetization on the web Exclusive Titles Microsoft Studios GAMELOFT UBISOFT Unlock new revenue streams Access to new audiences with free to play casual titles Unlock new revenue streams with digital advertising Voodoo TapNation Gismart SOFTGAMES 29#30Strategy deep dive - Developing content and engaging audiences Operating the whole supply chain with E-Commerce GENBA DIGITAL Digital content seller and aggregator One of the largest AAA games catalogues 300+ retail partners azerion 100+ game creators Nintendo R "Bethesda 505 GAMES Data as of September 2022 voidu AAA and PC games store 5,200+ gaming titles across a wide range of genres 10m+ game keys sold per year across 200+ countries CAPCOM BANDAI NAMCO P UBISOFT y voidu Search for pc games, software, gift cards and more SPECIAL OFFERS HILFRED 1224 ALL PC GAMES PRE-ORDER MANAGER Get ahead of the gild by pre-ordering now to receive five days early access and a 100 discount. STEAM €-54-99 € 49.49 -10% PRE-ORDER NOW SEGA CONSOLE GAMING GIFT CARDS BLOG **** Q Excellent 4.6 out of 5 Trustpilot GON Log in FI MANAGER 2022 WARHAMMER 40,000: CHAOS GATE- DAEMONHUNTERS STELLARIS: OVERLORD HOUSE FUPPER PATHFINDERS WRATH OF THE RIGHTEOUS Increasing user engagement and monetization 30#31Strategy deep dive - Developing content and engaging audiences Extended value proposition to advertisers - a global entertainment and media partner ADVERTISING GAME DISTRIBUTION azerion METAVERSE DIGITAL COLLECTIBLES Azerion's unique value proposition to advertisers Reach new audiences with free-to-play casual games Boost brand awareness Unlock new revenue streams 31#32Strategy deep dive - Developing content and engaging audiences Our game content appeals to all ages, nationalities and interests NEX What age groups play our games?¹ 65+ 41-64 21-40 13-20 22.7% 27.8% 28.3% 21.2% Sports Bubble shooter Racing Action Male 32% Home makeover Strategy 353m Unique game plays per month³ GOVERNOR POKER 3 (23 KELTIPLITEE Female 63% JUKEB 15 KE SIE1||31 |||蛋中奖来山东書 Puzzle DANGER DAIN Adventure Jewels blitz 4 Tile matching ❤ A Cards RPG Where do our players play?² Europe Asia4 North America South America ROW 10.6% 3.2% 21.5% 13.9% Social cards (1) Age distribution of Casual Games only, measured over Q3 2020 - Q1 2021. Sourced from Nielsen Digital Ad Ratings. (2) Location of players, as of Q4 2021, for entire portfolio (Casual and Premium Games). Sum of gameplays for the whole quarter. (3) Average number of gameplays per month over Q4 2021. Gender split based on Casual Games. Sourced from Nielsen Digital Ad Ratings. Premium Games have 53% of male azerion players and 47% of female players. Note that gender split is an estimation as this data is not registered. It is based on estimates from the Google analytics and Facebook pages. (4) Top 5 Asian countries are Vietnam (58m in Q4 2021), India (30m), Indonesia (29m), Thailand (28m), Philippines 50.8% 32#33Strategy deep dive Q3 2022 results announcement 04 Growth and M&A case studies Qazerion#34Strategy deep dive - M&A and case studies Strong M&A track record positioning Azerion as a market consolidator Content whow Developer and publisher of online social games O KENTEET admeen Online social games portals provider azerion 2021 DELTA PROJECTS Real-time advertising platform provider PubGalaxy SSP monetization platform sublime Platform Digital advertising agency Digital SSP and DSP advertising platform Cloud-based digital logistics platform for gaming industry INSKIN GENBA DIGITAL STROSSLE Digital SSP and DSP advertising platform keymobile Mobile advertising services Acquisition of Targetspot/Radionomy expected to be completed by the end of 2022 2022 to date ΙΝΕΙΝΙΑ HybridTheory ADPLAYⓇ Platform Campaign performance Digital sales house and management proprietary ad formats VLYBY FROM AUDIENCES TO P OPL 4 Ⓡ Digital marketing company Video advertising TakeRate France & Italian assets deals of TakeRate Monetization solution for digital publishers targetspot Strong pipeline Audio advertising for M&A in 2023 onwards M MEDIA by aeron Madvertise German and French subsidiaries of Madvertise Digital Sales House Mobile advertising technology company 34#35Strategy deep dive - M&A and case studies Recent acquisitions - case studies Type of deal Offering Value opportunities azerion VLYBY Corporate acquisition Instream & outstream solution for publishers ● Proprietary ad formats via Vlyby's video player Revenue increase due to Vlyby's auction optimization Cost reduction due to duplication of technology targetspot Asset deal Audio monetization solution Demand source for Audio ads Opportunity to enable audio inventory for our gaming portfolio A new format introduced for the platform which will enable cross- sales Acquisition of Targetspot/Radionomy expected to be completed by the end of 2022 ● madvertise. INNOVATING MOBILE ADVERTISING Asset deal Expertise in Mobile monetization Increase in our mobile user reach thanks to Madvertise's exclusive app inventory Better technology for Azerion exclusive publisher inventory: more features, less cost Opportunity for local markets to sell more mobile inventory Opportunity to sell mobile monetization product to external partners 35#36Strategy deep dive Q3 2022 results announcement 05 Financial performance Qazerion#37Strategy deep dive - Financial performance Our resilient model has value drivers on both demand and supply sides DEMAND AZERION'S PROPRIETRAY FULL STACK ADTECH SUPPLY REVENUE SOURCE REPORTING SEGMENT azerion Direct sales Digital ad buying platform Contracted publisher Advertisers Automated auction sales Exclusive publisher Advertising Advertising auction platform Publisher monetization services Platform Azerion's portals Consumers E-commerce Sale of AAA game keys Premium games In-game purchases Premium Games 37#38Strategy deep dive - Financial performance Strong and resilient growth building on solid track record 127 2018 Adj. EBITDA (EURm) azerion 173 2019 Revenue (EURm) 195 2020 27 308 2021 47 450+ 2022 50+ Medium-term objectives Gain market share and continue delivering organic growth ● Grow direct sales advertising volumes and increase gross profit margins Optimise costs and drive Adj. EBITDA margins up ● 2018 revenue based on Dutch GAAP, not fully comparable. 2019 and 2020 audited IFRS figures Revenue split 20% 20% 40% Automated auction sales 80% 80% 60% Direct sales Platform Premium Games Advertising ■ E-commerce 38#39Strategy deep dive - Financial performance Financial priorities for 2023 FINANCIAL FRAMEWORK COSTS CASHFLOW azerion KPIS: Revenue, Adjusted EBITDA, net profit Net Profit Balance Sheet Equity Balanced utilization of cash, debt and equity • Investment in growth Step change due to public company structure • Strategic partnerships and benefits of scale • Integration of acquisitions ● Recent acquisitions - balance of share and cash consideration CFFO ~EUR 20m (pre-SARS) YTD September 2022 39 A#40Strategy deep dive Q3 2022 results announcement 06 Q3 2022 results highlights Qazerion#41Strategy deep dive Q3 2022 results highlights Business & Portfolio highlights ● Completed acquisitions of Madvertise, Vlyby, Takerate and other asset deals, boosting our offerings to advertisers and publishers. Expanded integration with Google's demand-side platform, enabling Google's Audience targeting, unlocking additional volumes to Azerion's advertising auction platform Improve Digital. Launched the new Habbo app on Android and iOS. Winner of the “Top European Metaverse Platform" at the first annual European Metaverse Summit & Awards 2022 In October and November, completed the acquisitions of [M]media, Hybrid Theory and Adplay, strengthening capabilities and global footprint. In November, won the Digital Media Owner Award, surveyed by the Institute of Practitioners in Advertising in the UK, achieving the highest score in the history of the survey. In November, announced the results of its brand survey on attention measurement, revealing that Azerion's proprietary digital advertising formats can drive up to 20x higher attention compared to standard formats. azerion <-VOICE.F 9:41 AM voice.fi 100% KOTI Oletko sinäkin käyttänyt suodatinpussia väärin koko ikäsi? Katso oikeaoppinen tapa हन्छ MIOT Loydätkö sinä -kirjaimen? Kokeile nokkelas testiä, joka kertoo keskittymiskyvystäsi th 00 X SWIPE RENEW MONEY OCH ROLIN Paramount+ HOW STREAMING 41#42Strategy deep dive -Q3 2022 results highlights - Resilient performance in Q3 2022, improving efficiencies across our Platform EUR 106m Net Revenue Q3 2022 EUR 12m Adj. EBITDA Q3 2022 azerion +26% vs Q3 2021 -30% vs Q3 2021 Continued growth on the top line, boosted by the Platform segment • Q3 2021 positively impacted by the sale of NFT's in Habbo. XX 42#43Strategy deep dive - Q3 2022 results highlights Strong financial performance YTD, on track for FY 2022 revenue delivery EUR 304m Revenue YTD 2022 EUR 30m Adj. EBITDA YTD 2022 azerion +67% vs YTD 2021 +10% vs YTD 2021 Strong YTD growth while increasing the focus on costs and improving efficiencies • Acquisitions that add valuable capabilities to our business On track to deliver at least EUR 450 million revenue in 2022 IC 43#44Strategy deep dive - Q3 results highlights Platform Financial Performance Revenue €m 57.5 Q3 2021 8.4 Adjusted EBITDA €m Q3 2021 84.2 Q3 2022 azerion 8.2 Q3 2022 Gross profit margin 33.6% 32.5% 133.1 YTD 2021 YTD 2022 14.8 238.8 33.1% 18.0 YTD 2021 YTD 2022 33.7% Strong revenue growth due to acquisitions and organic growth Increased user engagement levels and continued growth in our casual game portfolio EUR 11.2 gross revenue per million accepted ad requests compared to EUR 9.9 in Q3 2021, showing growth notwithstanding macroeconomic conditions Lower gross profit margin, mostly driven by market conditions Higher operating expenses, mainly driven by acquisitions, which indicates areas for synergies and efficiencies 44#45Strategy deep dive - Q3 results highlights Premium Games Financial Performance Revenue €m 26.0 Q3 2021 9.2 Adjusted EBITDA €m Q3 2021 21.3 Q3 2022 azerion 4.2 Q3 2022 Gross profit margin 59.2% 52.1% 48.6 YTD 2021 YTD 2022 12.4 65.0 54.3% 12.0 YTD 2021 YTD 2022 50.5% Steady growth in YTD revenue due to acquisitions and organic growth Q3 2021 positively impacted by the successful sale of NFTs in Habbo; excluding this impact, revenue at a similar level as in Q3 0221 80min average time in game per day, showing steady user engagement Stable 556,000 average daily active users QoQ Growing average revenue per user to EUR 0.42 per user compared to EUR 0.37 Q3 2021 45#46Strategy deep dive - Closing remarks The Azerion mission We help brands improve the way they engage with audiences We entertain audiences azerion Advertisers Digital publishers Consumers Non-game Content Azerion proprietary content Game Game creators Our mission is to be the go-to-partner for advertisers for an easy- to-use, competitively priced and brand-safe digital environment I 46#47azerion Strategy deep dive Q3 2022 results announcement#48Partner with digital publishers offering a wide range of monetisation services Digital publishers is any company who interacts with its customers digitally - for example through online content, portals, news and videos Contracted Exclusive publishers publishers Ad sales EU High reach global demand Standard ad formats Support Special formats Priority in ad sales EU Contextual targeting Game-as-a-service Inventory optimization Premium support azerion Azerion offerings Help digital publishers access advertisers Azerion's proprietary advertising auction platform Combination of market standard formats (IAB) Self-service ticket system Azerion's proprietary ad formats Direct access to Azerion unique demand Azerion's proprietary technology (cookieless) White-label and game widget solutions, increasing audience engagement and ad space Management of advertising on existing digital inventory to maximize publisher revenue Full support from account manager and technical team, including recommendations on website developments and new rules/trends on the advertisement market. > > > > > > > > > > 17° THE VERY BEST UMBRELLA waga kas ma og med m Worms, an arkada, jen vám pon ... SOLITAIRE classic Chicago Tribute 13 Disney S8=2858 K G HUZ 48