Azerion Investor Presentation Deck

Financial performance Strong financial framework 5-quarter rolling financial performance 94 ● 6 Q1 '22 104 12 106 Q2 '22 Net Revenue azerion 12 Q3 ¹22 149 22 Q4 '22 Adjusted EBITDA 113 9 Q1 '23 -8 Profit 10 All figures in EURm. Interest-bearing debt as per Bonds terms & conditions Deprec. Q1/23 cash conversion 6 9 Adjust. -4 Interest Adj EBITDA 23 Other 27 Record first quarter performance in absolute revenue and Adj. EBITDA in Q1 2023 Cash flow conversion driven by changes in working capital Focus on financial robustness of the company deleveraging the balance sheet in 2023 CFFO 178 Q4/22 -1 Debt Q1/23 net debt 1 Cash 177 Q1/23 20

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