<a id="bm-comp-360b952c-40ac-4b5e-89c5-dc2cd39b80a6" name="bm-comp-360b952c-40ac-4b5e-89c5-dc2cd39b80a6" class="BMCustomAnchor"></a><table><tr><td bm-component-id="360b952c-40ac-4b5e-89c5-dc2cd39b80a6" style="vertical-align: top; width:100.000000%;"><ul><li>Q4 sales and EBITDA 7% and EBITDA 23% above driven by Senior</li><li>Strong growth in senior device revenue +35% y-o-y</li><li>Expect cons to lift '26 EBITDA by 10-15%, share to follow</li></ul></td></tr></table><a id="bm-comp-877dbdd2-762b-44c3-9e75-b90d0e8037bc" name="bm-comp-877dbdd2-762b-44c3-9e75-b90d0e8037bc" class="BMCustomAnchor"></a><table><tr><td bm-component-id="877dbdd2-762b-44c3-9e75-b90d0e8037bc" style="vertical-align: top; width:100.000000%;"><h3 class="bm-h3">Adj. EBITDA NOK 101m, +23% vs cons</h3><p>Revenue was NOK 606m, 7% above FactSet cons of NOK 568m (+12% vs. ABGSCe NOK 540m). This was driven by strong growth in the Senior Segment from the shift from 2G and 3G to 4G technology. The gross margin was 51.5% in line with ABGSCe. Opex was NOK 212m, 6% higher than ABGSCe of NOK 200m. This gave an EBITDA of NOK 101m, 23% above cons of NOK 82m (+29% vs. ABGSCe NOK 61m), corresponding to an EBITDA margin of 16.6% vs. 9.4% in Q4'24. Capex was NOK 4m (ABGSCe NOK 15m), resulting in adj. EBITDA-capex of NOK 97m, 54% above ABGSCe of NOK 63m.</p><h3 class="bm-h3">Strong senior device sales, lower ARPU</h3><p>Total device revenue was NOK 515m, 18% above ABGSCe of NOK 438m. Kids &amp; Youth device sales of NOK 152m was 8% below ABGSCe, and Senior device sales (Doro) of NOK 363m was 33% above ABGSCe. Service revenue was NOK 91m, 11% below ABGSCe of NOK 102m, corresponding to a growth of 18% y-o-y. Number of Kids subscriptions ended at 476k as pre-announced, of which 306k were Connectivity (ABGSCe 301k), 121k were Premium (ABGSCe 113k), 32k were B2B (ABGSCe 38k), and 15k were Service fee (ABGSCe 16k). This gave a monthly ARPU of NOK 66 vs. ABGSCe of NOK 74, which compares to NOK 72 in Q4'24.</p><h3 class="bm-h3">Expect a strong share outperformance today</h3><p>On the back of today's report we expect consensus to lift estimates driven by strong device sales and gross margin in the senior segment, however, somewhat offset by a lower ARPU and higher opex. All in all we expect cons to lift 2026 EBITDA by 10-15% on the back of today's report.</p><p>Conclusion: We expect the share to outperform by 10-15% today.</p><p><a data-bm-trackable="false" href="https://investor.xplora.com/" target="_blank">Xplora will host a conf call at 08:00 CEST.</a></p></td></tr></table>pagebreak <a id="bm-comp-bba331d9-bd4c-44e5-be82-aa8553cfdadd" name="bm-comp-bba331d9-bd4c-44e5-be82-aa8553cfdadd" class="BMCustomAnchor"></a><table><tr><td bm-component-id="bba331d9-bd4c-44e5-be82-aa8553cfdadd" style="vertical-align: top; width:100.000000%;"><table id="bm-img-52d02884-fedb-436e-a02c-3828bca7fc29" class="bm-img-table xslt-img-empty xslt-img-include"><tr><td class="xslt-img-caption">Deviation table</td></tr><tr><td><img bm-img-encrypt="52d02884-fedb-436e-a02c-3828bca7fc29" bm-img-original-height="778" bm-img-original-width="1212" bm-img-svg="image:image_upload/94318_c8013af2-c5cc-4a67-858d-f77d5e3299fd.svg" bm-img-width-hint="100%" id="bm-id-52d02884-fedb-436e-a02c-3828bca7fc29" src="https://abgsc.bluematrix.com/images/image_upload/94318_c8013af2-c5cc-4a67-858d-f77d5e3299fd_733.png" svg="/nas/web/clients/abgsc/images/image_upload/94318_c8013af2-c5cc-4a67-858d-f77d5e3299fd.svg" width="727" alt="" title="" /></td></tr><tr><td class="xslt-img-source">Source: ABG Sundal Collier &amp; company data</td></tr></table></td></tr></table>