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Investor Presentation May 2021

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Investor Presentation May 2021 Creating digital advantage for businesses and society Investor presentation Outline • TietoEVRY in brief • Financial performance • Growth agenda • Financial targets and capital allocation priorities • Investment highlights • Appendix 2 TietoEVRY in brief 4 Diversified business with strong Nordic market presence Other Sweden 32% Markets • Nordic enterprises and public Finland 24% sector with >80% of revenues • Global software and product Norway 31% development services Product Development Services 5% Other Creating digital Financial Digital Services consulting 25% advantage for Services • Software 2020 Solutions 15% businesses and • Consulting Revenue: €2.786 • Infrastructure society – Industry EBITA adj: 12.7% software 17% augmented by Cloud & Infra 34% TietoEVRY merger Other Sweden 19% Employees Ukraine • Among largest Nordic 8% technology employer ~12000 Norway 19% India • ~24000 employees serving 19% customers in ~80 countries Czech Finland 13% 10% 5 Our five service lines Revenue 2020 International Product operations… Digital Bringing global capabilities to the Nordics Development Services Consulting 25 % 5 % Consulting, system integration, managed application services across customer Financial Services Digital Consulting experience management, business applications, analytics, cloud advisory and Solution 15 % cloud native development €2.786m Industry Software Managed cloud, security and end-user services, including cloud migration 17 % Cloud & Infra Cloud and advisory and transformation Infra 34 % Industry specific Software, SaaS solutions including related professional services Industry Software for Public sector, (Case management, Healthcare, Welfare, Education), Industrial Adj*. EBIT 2020 (Oil & gas, Manufacturing, Utilities) and Data platform services Product International operations Development 7.6% Services;12.7% Digital Consulting; Software, SaaS, platform based BPO and related professional services for core 14% Financial Services processes and functions for Financial Services industry - Core banking, Financial Solutions Services Payments incl Cards, Credit and wealth management Solution; 13.0% €355m / 12.7% Cloud and Product Development Advanced software R&D services across Telecom, Automotive, Consumer Infra; 10% Services Electronics industries Industry Software; 18.3% *Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 6 Strong client base with major customer wins cross all Service Lines and countries Norway Finland Sweden 7 Enabling sustainable Digital societies at the core of our engagement and operations PEOPLE Gender 100% ≥75 Zero balanced Of employees Employee Breaches of Workforce by 2030 feeling safe engagement privacy to speak up score Net zero On carbon emissions 2025 Avoided PLANET 100% 100% 80% Reuse and Use of Reduction of emissions recycling of green energy in CO2 emissions of For customers exceed hardware datacenters in own operations those created in own and offices 2020-2023 operations 8 Financial performance 9 Continuous improvement in key financial indicators Revenue Dividend / share 2.8 b€ ** 0.20€** 0.22€** 0.20€ 1.32€ 1.15€ 1.20€ 1.25€ 1.5 b€ 0.635€ 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Net cash flow from * Adjusted EBIT operations 355 m€ 355 m€ 152 m€ 97 m€ 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 *Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital ** Additional dividend gains/losses, goodwill impairment charges and other items affecting comparability 10 TietoEVRY Q1’21 Business highlights Organic growth* -6% Revenue EUR 712 million, organic growth* -6% Adj. EBITA** • Reported growth -4%, currency impact EUR 12 million 800 11.5% (up 1.0%) Adjusted EBITA** EUR 82.1 (78.2) million, 11.5% (10.5) Covid-19 impact appr. -3% on revenue 744 712 712 600 686 Revenue impact from lost customers in Cloud & Infra 644 appr. 3.5% Profitability improvement driven by Industry Software, 400 Digital Consulting and synergy contribution Continued healthy cash flow – operating cash flow EUR 200 95 million 10.5% 11.7% 14.0% 14.9% 11.5% 0 Q120 Q220 Q320 Q420 Q121 Adj. EBITA % Revenue * Adjusted for currency effects, acquisitions and divestments ** Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability 11 Growth agenda 12 Accelerated growth through cloud, data and software Growth driver Growth choice Growth ambition Public cloud services Capture the market 1 digital momentum Data & Analytics solutions >20% DevOps and automation Key choices Drive software 2 differentiation and driving growth expansion profile and Payments software and cards services business mix End-to-end solutions 3 addressing customer Nordic healthcare and citizen services >10% complexity Product Development Services Sensitivity: Internal 13 Consistently improving digital business mix Revenue mix Investment mix** Digital • High growth in Digital Services Design, Customer Experience Cloud, Data & Insights driving sustainable growth Software/SaaS >70% Product Development Services 49% 60% • DevOps and automation transforming managed services • Accelerated decline in traditional infrastructure services with cloud Transforming adoption Managed services (apps and infra), packaged software, 29% system integration 27% >20% • Investment level 4-5% of revenues focusing on Digital capabilities, AIOps and software Traditional development Custom infrastructure services, 22% legacy applications and 13% <10% software 2019 2023 *Offering development investments Sensitivity: Internal 14 Growth dynamics 2021 – back to growth in H2 H1 2021 H2 2021 Industry Software Industry Software: High activity and wins in welfare, healthcare and public Financial Services Solutions Financial Services Solution: Growth outlook supported by order backlog and strong momentum in BaaS and Cards Product Development Services Product Development Services: Demand in Telecom / 5G and automotive recovering Digital Consulting Digital Consulting: Favorable growth momentum towards end of Q1 Cloud & Infra Cloud & infra: Pre-merger lost customers impact decreasing in H2 International Operations: Growth potential International Operations continues, driven by new digital services Growth contribution Negative Neutral Positive towards 2021 guidance 15 2021 growth drivers Drivers Market driven by Cloud first strategies and data richness in customers’ operations TietoEVRY expects market to grow 0–2%, reflecting the impact from pandemic Covid-19 negatively impacting market All Service Lines expected to grow in 2021, growth in H1, normal market conditions except Cloud & Infra from H2 Market opportunity, business objectivesTietoEVRY expects revenue to grow -1 to 2% and drivers of competitiveness impacted by lost customer headwinds from Integration focus shifting to growth - Cloud & Infra of appr. -2.5% growth programs launched in all key markets Roundtable discussion of market drivers and opportunities Realize value from the merger and begin market share gains 16 2021 Guidance TietoEVRY expects its organic1) growth to be -1% to +2% 2) (Revenue in 2020: EUR 2 786.4 million) The company estimates its full-year adjusted operating margin (adjusted EBITA) 3) to increase to 13–14% (12.7% in 2020) 1) Adjusted for currency effects, acquisitions and divestments 2) High dependency on the Covid-19 pandemic development. Assuming normal business environment from Q3 2021 3) Adjusted operating profit (EBITA) is fully comparable with previous definition for adjusted operating profit (EBIT). According to both definitions, amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, impairment charges and other items affecting comparability are excluded - whereas amortizations of other intangible assets and depreciations are included Financial targets and capital allocation priorities 18 Financial targets 2023 Growth* accelerating to 5% by 2023 Attractive Adjusted EBITA 15% by 2023 shareholder One-time items ~1% of revenue post 2021 returns Net debt/EBITDA below 2 by the end of 2022 Dividends to increase annually * Excluding large M&A, adjusted for FX 19 Service Line financial targets Growth by 2023 EBITA (adj) by 2023 • Scale data and cloud capabilities across Nordics and Digital Consulting 7–9% 15–17% delivery centers • Benchmarked productivity and automation • Drive multi-cloud services reduce legacy Cloud & Infra 0–2% 11–13% • Accelerate AIOps and global delivery • SaaS, enhance functionality and market expansion Industry Software 6–8% 20–22% • Harmonized software R&D practices Financial Services • Expand banking, payments and cards 6–8% 18–22% Solutions • Realize scale from investments Product Development • Expand industry and market reach 8–10% 12–14% Services • Continue efficiency drive and invest for scale TietoEVRY 5% 15% 20 Capital allocation priorities Investing into Investing in growth areas to support the 5% the businesses growth target of 2023 Use of free cash flow 1 Dividend Increased dividends annually* Deleveraging <2 Net debt/EBITDA by 2022 2 M&A M&A supporting growth Distribution of Extraordinary dividend 3 excess capital *baseline 2019 original dividend proposal of 1.27 €/share Confidential Why invest in TietoEVRY? TietoEVRY offers an attractive investment opportunity Maximizing total shareholder return Dividend Increased dividends annually • Improved growth profile - 5% • Improved profitability
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