#1TRIFORK. INVESTOR PRESENTATION NOVEMBER 2021 We change the world with software. MLT 004 TRIFORK ...think software#22 PRESENTERS TAI FORK Jørn Larsen CEO Founded Trifork in 1996 and has since worked as Group CEO Broad experience from multiple start-ups in the European technology space + Kristian Wulf-Andersen CFO Joined Trifork as Group CFO in 2007 Co-founder and CFO of the IT infrastructure company Interprise Consulting until it was acquired by Trifork in 2007 TRIFORK.#33 DISCLAIMER IMPORTANT INFORMATION This presentation contains forward-looking statements including, but not limited to, statements and expectations concerning expected or projected earnings, strategies, trends and developments. Forward-looking statements are statements (other than statements of historical fact) relating to future events and Trifork's expected, anticipated or planned financial and operational performance. The words 'may', 'will', 'will continue', 'should', 'expect', 'foresee', 'anticipate', 'believe', 'estimate', 'plan', 'project', 'predict', 'intend', 'guidance' and 'outlook' or variations of these words, including negatives thereof, as well as other statements regarding matters that are not historical fact or regarding future events or prospects, constitute forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. Trifork has based these forward-looking statements on its current views with respect to future events and financial performance. These views involve a number of risks and uncertainties, which could cause actual results to differ materially from those predicted in the forward- looking statements and from the past performance of Trifork. Although Trifork believes that the estimates and projections reflected in the forward-looking statements are reasonable, they may prove materially incorrect, and actual results may materially differ, e.g. as the result of risks related to the industry in general or Trifork in particular. As a result, forward-looking statements should not be relied on as a prediction of actual results. Trifork undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law. TRIFORK.#44 Profitable growth with margin improvement Revenue from acquisitions Revenue Adj. EBITDA margin Revenue guidance (max.) Revenue guidance (min.) 12% 15% 16% 23% CAGR 115.4 106.4 86.5 155 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 E TRIFORK.#5LO 5 Highlights REVENUE GROWTH Organic growth KEY FINANCIALS KEY STATISTICS In-organic growth 20% EUR 116.3 m EUR 36.9 m ■ Revenue 44% 25% 41% 116.3 19.7 16.1 80.5 80.5 9-month revenue EUR 21.3 m 9-month Trifork segment adjusted EBITDA Q3 revenue EUR 6.2 m Q3. Trifork segment adjusted EBITDA 57 Business Units 21 Active Trifork Labs Startups 957 Employees >27m views on GOTO YouTube, 10m LTM GOTO YouTube channel Total views 25M 36.9 4.3 6.4 26.2 26.2 18.3% 9-month Trifork segment adjusted EBITDA margin 16.9% 20M Q3 Trifork segment adjusted EBITDA margin 15M EUR 22.3 m -0.9 Leverage ratio (Net Debt / Adj. EBITDA) Net liquidity (Debt) Q3 2020 Q3 2021 9M 2020 9M 2021 10M 2019-01 2020-01 2021-01 2021-06 2021-09 TRIFORK.#66 Highlights BUSINESS HIGHLIGHTS IN Q3 2021 1 Inspire initiatives Tech channel now more than 26.8m in total, 10m LTM and 25,000 views/day in Q3-2021 Trifork Operations 2 Hosting centre now established in CH and operational 4 LO 5 M&A 3 6 Successful integration of Vilea Acquisition of Strongminds (Q4/end of October) Sustainability initiatives Dryp, Upcycling Forum and Trifork office building. Trifork is testing an abnormality detection system (ADS) on our CO2 and water consumption and plan to start rollout in the entire group within 2022. Trifork Labs New investments in Visikon (22.5%) experts in animated videos and Develco (40%) IoT experts. Guidance On Sept 22, 2021 guidance was updated to Revenue of EURM 150-155, Adj. Trifork segment EBITDA of EURM 27.5-30.0, Trifork EBIT of EURM 13.5-15.0 TRIFORK.#77 B IIII es • Trifork FinTech Digital Health Smart Building Smart Enterprise Cyber Protection T Cloud Operations Trifork Group Trifork Labs Trifork's R&D Founding and financing of start-ups Minority investments Investment criteria: New technology Potential to become Potential to become business drive strategic partner#88 The Trifork go to Market Model 20.4% RUN Customer 1.1% INSPIRE BUILD 78.3% Inspire 9M-2021 revenue of EURM 1.3 (only one in-person conference) Q3-2021 revenue of EURM 0.6 compared to 0.3 in 2020 Build 9M-2021 revenue up 52.7% to EURM 91.0 (19.6% organic growth) Q3-2021 revenue up 53.5% to EURM 29.8 Run 9M-2021 revenue up 24.9% to EURm 23.7 (24.8% organic growth) Q3-2021 revenue up 1.5% to EURm 6.4#99 Business Area highlights - Verticals $ VERNE Send penge 8 50,00 kr. exseed TAFORK TRIFORIC Fintech 12.8% Partnerships and investments in Fintech startups &Money and Kashet Solutions in Fraud Detection, Key manager and a Communication Gateway Digital Health 11.4% Covid-19 passport and pharmacy app "Apoteket" in Denmark Onboarding iPad app for the Swiss Electronic Health Record Labs Investment in Visikon (animated video) Smart Building 2.3% Building new products to help digitalizing information. from production facilities and buildings Groundbreaking for sustainable office building in Aarhus Labs Investment in Develco (IoT experts) 18.3% 14.9 12.5 60.7% 20.7% 13.2 10.9 44.9% -2.9% 2.7% 5.4 2.7 4.8 2.7 3.4 3.3 0.9 0.9 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M2020 9M 2021 Q3 2020 Q3 2021 TRIFORK.#1010 Business Area highlights - Horizontals T Smart Enterprise 49.6% ☐ Digitalization Apps for Banedanmark (maintenance and traffic control of the Danish railway network) Working with customers on automated decision making Integration of Vilea in Switzerland Cyber Protection 6.8% Organic growth from mid and large size companies Continued product development Delivery of managed security services and running our security operations center ⇒ ||||| Cloud Operations 15.8% Build additional state of the art Data Center in Denmark Trifork Operation AG established and ready in Switzerland 31.1 85.6% 57.7 56.6% 82.4% 88.1% 8.6% -3.8% 17.4 11.1 7.9 4.3 17.0 18.4 1.9 6.1 1.0 5.9 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 Q32020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 TRIFORK.#1111 SMART ENTERPRISE Turning mobility smart Seamless integration with SAP backend ■ Intelligent use of GPS capabilities Speech-to-text integration Sign-on in 0.1 seconds +750k +60k 650 managed assets annual work orders users banedanmark#1212 Go-to-market model Trifork Labs Activities Inspire 4 firmnav beem better money moments Build Kashet Run Dawn Labs visikon & MONEY in reQbo Fully impaired Implantica exseed • ။ Business Areas TSBone UREVELING forum STRATEDY & ACTION DEVELCO PRODUCTS Dryp EDIA akyn XCI Container Solutions YOUANDX Inspire people C4Media MARS NE Fully impaired ATOMIST Axon Q TRIFORK. FinTech Digital Health Smart Building Smart Enterprise Cyber Protection Cloud Operation Cross BA Support#1313 Clear strategy for making tactical acquisitions Investment should fulfil at least on of five investment criteria 1 2 3 4 5 Global Enables opening of one or more geographic markets? Frontrunner Secure first mover technology or expertise in complementary areas? Product business Obtain products with a substantial scalable revenue potential? Business partner Provides a competitive advantage or other synergies? Customer Create loyal and strategic customers by joining forces? Erlang SOLUTIONS ⑨duckwise Nine NiИe Nine TestHuset invokers netic SAPBASIS orange11 OpenCredo vilea SAPBASIS expertise made fair STRONGMINDS vilea STRONGMINDS netic TRIFORK.#1414 Strategic priorities TRIFORK. Perfecting the Trifork way Intensive business unit leader workshops 57 business units Grow European position ☐ ☐ Full integration of Vilea in Switzerland Operations established in Switzerland Total revenue growth of 44.4% Grow "Run" revenue B C D E ☐ Total revenue growth of 24.9% ◉ Grow European position Grow "Run" Progress with revenue strategic collaborations and M&A Accelerate partnerships Added a Tier 4 Swiss operations center A Build foundation for further growth - "Perfecting the Trifork way" Success with a new security platform and development of new services Strategic collaborations ☐ Active Investment in Visikon and Develco Apple event in London about Rails Kashet investment focused on building and running modern "mobility-first" banking platforms Accelerate partnerships Deep learning partnership with Nvidia TRIFORK.#1515 D A ИБЛА FEATURED IN THE Whe Q3 2021 ESG update Promoting green energy and sustainable solutions CO2 and water abnormality detection system (ADS) implemented in one Trifork building; rollout to all Trifork buildings planned (1) CO2 and water protocol with new Trifork building rentals (1) Support new customers in the building sector with sustainability driven product design (1) Trifork Smart Building One Lab investments in clean tech companies Dryp and Upcycling Forum Social efficiency and diversity Trifork "DNA" Gender distribution with 18.2% female employee base and 25.0% female senior managers Employees from more than 25 countries with average age of 36.7 years and sick leave < 2% -dade Contro We work angstacy w photopapiny • Marketing challenge. ↓ how to create value દાદ to get it Who to you 2.com 1- WEB CONTENT 2-WEBSITE 3-CARDS (SP сонатека TRIFORK. Adherence to high governance standards One additional member to the Trifork governance team hired in Q3 (1) (1) new initiatives in Q3 2021#1616 Financial performance TRIFORK.#1717 Trifork Group Performance Q3-2021 41.0% revenue growth compared to Q3-2020 24.8% organic growth Build and Run continue to drive Group revenue Strong growth especially supported by high activity level in DK public sector (Digital Health and Smart Enterprise), Cyber Protection and UK FinTech Continued reduced Inspire activity due to COVID-19 but Q3 increase from EURM 0.3 in 2020 to EURM 0.6 in 2021 REVENUE Organic growth In-organic growth Revenue 20% 44% 41% 25% 36.9 4.3 6.4 26.2 26.2 116.3 19.7 16.1 80.5 80.5 Q3 2020 Q3 2021 9M 2020 9M 2021 TRIFORK.#1818 Trifork Group Performance Q3-2021 Adj. EBITDA grew 38.4% compared to Q3-2020 Adj. EBITDA-margin was 16.6% compared to 17.0% in Q3-2020 Adjustments of EURM 0.1 related to IPO EBIT increased 60.6% compared to Q3-2020 EBIT-margin increased from 7.5% to 8.5% ADJUSTED EBITDA EBIT 38.4% 15.2% 64.5% 17.3% 20.1 60.6% 82.6% 8.2% 12.2 16.6% 17.0% 6.1 4.4 6.5% 9.5 8.5% 7.5% 5.2 3.1 2.0 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 TRIFORK.#1919 Trifork Segment Performance Q3-2021 Adj. EBITDA grew 36.3% compared to Q3-2020 Adj. EBITDA-margin was 16.9% compared to 17.5% in Q3-2020 Adjustments of EURm 0.1 to Trifork Labs activities. Adjusted EBIT increased 46.9% compared to Q3-2020 Adjusted EBIT-margin increased from 8.4% to 8.8% ADJUSTED EBITDA ADJUSTED EBIT 36.3% 15.7% 12.6 16.9% 17.5% 6.2 4.6 68.2% 18.3% 21.3 46.9% 111.4% 10.8% 12.6 7.4% 8.8% 8.4% 5.9 3.2 2.2 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 TRIFORK.#20Trifork Segment Performance REVENUE BY SUB-SEGMENTS (EURM) Inspire Build Run Others 0.3 19.0 0.2 23.7 91.0 0.1 6.4 59.6 0.1 6.4 ADJ. EBITDA BY SUB SEGMENT IN 9 MONTH 2021 n.m. 21.7% 20.7% n.m. 18.3% -2.8 4.9 21.3 19.8 29.8 -0.6 19.4 0.3 0.6 1.6 1.3 Q3 2020 Q3 2021 9M 2020 9M 2021 Inspire Build Run Other Total 20 TRIFORK.#2121 Build Sub-segment Performance REVENUE Q3-2021 ☐ 53.5% revenue growth (31.4% organic). Majority of inorganic growth from Nine Growth widely distributed between most of the business areas but Smart Enterprise and Cyber Protection are still the top performers Adj. EBITDA grew 42.7% compared to Q3-2020 Adjusted EBITDA margin decrease from 22.5 to 20.9%. The decrease is seen as normal fluctuation. Overall for 9M-2021, the margin is still at 21.7% compared to 21.4% in 2020 Organic growth In-organic growth Revenue 53.5% 31.4% 29.8 4.3 6.1 19.4 19.4 19.6% 52.7% 91.0 19.7 ADJUSTED EBITDA 55.2% 21.7% 11.7 42.7% 59.6 59.6 19.8 21.4% 12.7 20.9% 22.5% 6.2 4.4 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 TRIFORK.#2222 Run Sub-segment Performance REVENUE Q3-2021 1.5% revenue growth (all organic) Growth primarily in Cloud operations and Cyber Protection product sale Adj. EBITDA grew 0.9% compared to Q3-2020 Adj. EBITDA margin of 22.6% at same level as in Q3-2020 Adj. EBITDA 9M-2021 growth of 31.0% compared to same period 2020 Organic growth In-organic growth Revenue 1.5% 1.5% 24.8% 24.8% 23.7 4.7 19 19 ADJUSTED EBITDA 0.9% 31.0% 6.4 0.0 6.4 6.4 20.7% 19.7% 22.7% 22.6% 4.9 3.8 1.4 1.5 Q3 2020 Q3 2021 9M 2020 9M 2021 Q3 2020 Q3 2021 9M 2020 9M 2021 TRIFORK.#2323 Trifork Labs Segment FINANCIAL ASSETS (EURM) INVESTMENTS (EURM) 14.7 19.7 32.5 75.9 Cash/cost in active investments Acc. unrealized gain Acc. realized gain 10.7 24.3 28.8 10.7 8 17.5 13.1 69.2 11 70.4 14.9 9.4 1.7 2.2 3.7 5.5 2017 2018 2019 2020 Q3 2021 2017 2018 2019 2020 9M 2021 TRIFORK.#2424 Cash flow and financial position Q3-2021 Operating cash flow of EURM 0.5 Contract assets approx. EURm 1.5 higher end Q3 than normal - expect to be normalized before YE Cash flow from investing activities of EURm -1.0 Acquisitions of EURM -0.5 Purchase of assets of EURM -0.8 Labs investments EURM -0.7, sale of EURM 0.9 Financing activities of EURm -5.0 Repayments of loans of EURM -2.9 Payments of lease liabilities of EURM -1.3 NET LIQUIDITY/(DEBT) Leverage ratio 1.0 0.9 24.4 0.7 22.3 14.3 Q4 2020 Q1 2021 Q2 2021 Q3 2021 -37.4 -2.1 TRIFORK.#2525 Update on Guidance 2021 TARGETS Current Guidance 2021 (updated 22/09/2021) Guidance History 2021 (updated 24/08/2021) Guidance History 2021 (initial 04/05/2021) Medium Term Targets (22/09/2021) Group revenue estimate EUR 150 - 155m EUR 145 - 150m Trifork segment adj. EBITDA estimate Trifork EBIT estimate EUR 27.5 - 30.0m EUR 13.0 - 15.5m EUR 26.0 - 28.5m EUR 12.8 - 14.8m EUR 140 - 150m EUR 23.7 - 28.5m EUR 12.8 - 14.8m Group revenue growth Trifork segment adj. EBITDA margin ~15%-25% total ~10%-15% organic Improved Trifork segment adj. EBITA margin Improved TRIFORK.#26Thank You! MAY 004 TRIFORK think software TRIFORK.