Azerion Investor Presentation Deck

Financial update Strong financial framework 5-quarter rolling financial performance ulu 149 113 106 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Q2 '23 104 122 Net Revenue Adjusted EBITDA azerion 19 -2.9 Profit/Loss 10.9 D&A Q2 2023 cash conversion 8.0 Changes in W.C. & other movements -4.8 Interest -3.7 All figures in EURm. * Net interest-bearing debt as defined in Senior Secured Callable Fixed Rate Bonds ISIN: SE0015837794. Other 7.5 Resilient performance in Q2 and H1 2023 Continued cash generation from operating activities Implied leverage ratios pro forma the divestment of social card games reducing CFFO Q2 2023 Net interest bearing debt* 2.4x 178 4 ▪[] Q4/22 Debt 9 2.4x Cash 183 Q2/23 Proceeds Pro formal from sale Q2/23 Net interest bearing Debt/ FY 2023 Adj EBITDA of ~75m 31

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