Investor Presentaiton

nuuday Management review Financial statements Section 1 Section 2 Section 3 Section 4 Section 5 Section 6 Parent company Statements .......... 3.1 | Intangible assets (continued) Weighted average cost of capital (WACC) applied as the discounting factor in the calculations increases/ decreases by 1.0% and all other things being equal, the value in use would de- crease/increase by DKK 1.7bn and 2.3bn, respectively and would not cause the carrying amount of goodwill to exceed the recoverable value. Under the same assumptions, a 1.0% decrease/increase in the market-based growth rate would the value in use decrease/increase by DKK 1.1bn and 1.5bn, respectively. All the above-mentioned changes in key as- sumptions would not cause the carrying amount to exceed the recoverable value. If the key assumptions change more than indicated in the above analyses the recoverable value may decrease at a level, where an impairment loss occurs. With the present relation between WACC and growth rate the WACC can increase to approximately 12.9% pre-tax with a growth rate at 2.5% before the carrying amount of goodwill will exceed the recoverable value. The assumptions for calculating the value in use for the most significant goodwill amounts are given below. Assumptions regarding recoverable amounts and projected earnings YouSee Any reasonably possible changes in the key assumptions are not expected to cause the carrying amount of goodwill to exceed the recoverable value. Projections are based on the assumption of a steadily declining EBITDA in the projected period. However, the trend towards the terminal period in the long- term business plan will stabilise based on the following assumptions: • Landline voice RGU will decline in line with market trends however partly offset by slightly increasing ARPU development due to price development in the market • A decline in mobility services gross profit from a slightly declining cus- tomer base, but offset by ARPU stabili- sation in line with general price devel- opment A minor decline in broadband gross profit due to decreasing RGUs on par- ticularly DSL, as customers migrate to high-speed technologies (e.g. fibre and coax). The decline will be partly offset by increasing ARPUS in the later years of the projected period driven by the customer migrations and general price development TV gross profit decline due to pressure on the number of RGUS from market trends. Focus on future-proof technol- ogy in TV such as "Bland selv TV", will somewhat stabilise the RGU trend in terminal period and generate higher ARPU . Savings throughout the first half of the planning period driven by initiatives generated in an extensive saving pro- gram with reductions in external and personnel expenses. Inflationary in- crease in cost assumed from halfway in the planning period. Nuubrands Any reasonably possible changes in the key assumptions are not expected to cause the carrying amount of goodwill to exceed the recoverable value. Projections are based on the assumption of steadily increasing EBITDA throughout the projected period in the long-term business plan based on the following as- sumptions: . • Steady growth in mobility services gross profit driven by increased foot- print in the no-frills market from Eesy. Furthermore, increasing ARPUs are ex- pected in line with the general price development to further improve the mobility gross profit development Increasing broadband gross profit driven by Hiper's increased footprint in the high-speed technology market Savings throughout the first half of the planning period driven by initiatives generated in an extensive saving pro- gram with reductions in external and personnel expenses. Inflationary in- crease in cost assumed from halfway in the planning period Business Any reasonably possible changes in the key assumptions are not expected to cause the carrying amount of goodwill to exceed the recoverable value. Projections are based on the assump- tions of a declining EBITDA early in the planning period, offset by a stabilization of EBITDA and subsequent increasing EBITDA towards the terminal period in the long-term business plan based on the following assumptions: • Landline voice RGU decline in line with market trend • • Stable gross profit development in mo- bility services throughout the planning period, driven by small increase in RGU base, offset by lower ARPU due to product mix and cost development Declining broadband GP in the early years of the planning period, however it will stabilise towards terminal period. The increase is driven by migrations of customers from DSL to high-speed technology (e.g. fibre) in the upcoming years, which drive high loss of RGUS and low ARPUS, but will eventually sta- bilise after migrations Savings throughout the first half of the planning period driven by initiatives. generated in an extensive saving pro- gram with reductions in external and personnel expenses. Inflationary in- crease in cost assumed from halfway in the planning period Nuuday Annual Report 2022 57

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