Azerion Results Presentation Deck

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