Azerion Results Presentation Deck

Financial performance Strong financial framework 126 19 buld LL 149 106 22 12 12 Q4 22 Q4 21 5-quarter rolling financial performance 127 94 Q1 22 ■Net rev 173 2018 2019 Adj. EBITDA azerion 6 104 195 Q2 22 FY historical revenue Q3 22 ■Adj Ebitda 308 453 ~560 ~15% annual growth 2020 2021 2022 2023 2024 2025 27 47 52 75+ 9 Profit 12 Deprec. 14-16% Adj EBITDA margin All figures in EURm. Interest-bearing debt as per Bonds terms & conditions Q4/22 cash conversion 1 22 Adjust. Adj... -5 Interest 3 Other 20 CFFO 189 Q4/21 Q4/22 net debt 3 Debt -16 176 Cash Q4/22 Record quarterly Adj EBITDA in Q4 2022 Strong cash conversion supporting net debt reduction Focus on profitable growth and deleveraging the balance sheet in 2023 10

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