Creating digital advantage for businesses and society

Investor presentation Outline

• TietoEVRY in brief

• Financial performance

• Growth agenda

• Financial targets and capital priorities

• Investment highlights

• Appendix

2 TietoEVRY in brief 4

Diversified business with strong Nordic market presence Other 32% Markets • Nordic enterprises and public 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 Industry Software for Public sector, (Case management, Healthcare, Welfare, Education), Industrial Adj*. EBIT 2020 (Oil & gas, , 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 - 15% Adj EBITA Share price appreciation • Improved Free Cash Flow

• Realizing the full value potential from FSS and IS software businesses

Appendix Group structure and leadership

International Product Development Finland, Satu Kiiskinen Services (PDS)

Sweden, Karin Schreil Harri Saloma

Country teams Norway, Christian Pedersen

Financial Digital Cloud & Industry Service lines Services and PDS Consulting Infra Software Solutions

Digital Consulting Cloud & Infra Industry Software Financial Services Thomas Nordås Johan Torstensson Christian Segersven Christian Segersven

Integration Officer, Malin Fors-Skjæveland

CFO, Tomi Hyryläinen HR, Trond Vinje Operations, Ari Järvelä Strategy, Kishore Ghadiyaram Group functions and CEO CEO, Kimmo Alkio

25 Group Leadership

Managing Partner Managing Partner Managing Partner Head of Digital Head of Head of Industry Software Norway Sweden Finland Consulting Cloud & Infra and Financial Services Christian Pedersen Karin Schreil Satu Kiiskinen Thomas Nordås Johan Torstensson Christian Segersven

CEO Kimmo Alkio

Head of Product Integration Officer Head of Operations Head of HR Head of Strategy CFO Development Services Malin Fors-Skjæveland Ari Järvelä Trond Vinje Kishore Tomi Hyryläinen Harri Salomaa Ghadiyaram 27

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 28

Digital Consulting

Business highlights Organic growth* -5% Revenue EUR 175 million, organic growth* -5% Adjusted EBITA** EUR 26.5 (23.9) million, 15.1% Adj. EBITA** (13.0) 200 15.1% (up 2.1%) Covid-19 impact appr. 5% on revenues, negative working day impact around 1.5% 150 Profitability development driven by continuous efficiency improvement

Healthy order intake towards end of Q1 contributing to 100 Q2 growth potential 184 163 173 175 Digital Consulting anticipated to return to growth by 143 H2’21 50 13.0% 11.0% 14.7% 17.3% 15.1% In Q2’21: • Adjusted operating margin anticipated to be above Q2’20 level 0 Q120 Q220 Q320 Q420 Q121

Adj. EBITA % Revenue 29

Cloud & Infra

Business highlights Organic growth* Revenue EUR 216 million, organic growth* -17% -17% Adjusted EBITA** EUR 8.6 (23.7) million, 4.0% (9.4) Adj. EBITA** Revenue decline caused by: 300 4.0% (down 5.4%) • Customers lost during 2019 – impact appr. 10% • High comparative in Q1’20 - impact appr. 5% 250 • Covid-19 impact appr. 2% 200 Measures to improve profitability:

• Reducing production capacity and headcount 150 • End of IBM related quality improvement costs by summer 253 2021 232 219 100 227 216 • Continue to transform old IBM workloads to new automated environment 9.4% 11.5% 10.9% 8.5% 4.0% 50 • Growth in higher margin cloud services and add on volumes

In Q2’21 and H2’21: 0 • Q2 revenue decline expected to be less than Q1’21 and Q120 Q220 Q320 Q420 Q121 adjusted operating margin above Q1’21 level • H2’21 adjusted operating margin expected to be above Adj. EBITA % Revenue H1’21

* Adjusted for currency effects, acquisitions and divestments ** Adjustment items include restructuring costs, capital gains/losses, impairment charges and other items affecting comparability 30

Industry Software

Business highlights Organic growth* 3% Revenue EUR 136 million, organic growth* 3% Adj. EBITA** Adjusted EBITA** EUR 27.3 (13.1) million, 20.1% (10.1) 150 20.1% (up 10%) Covid-19 impact appr. -2% Strong growth in Welfare (16%) and Healthcare (10%)

Profit development driven by systematic transformation 100 of global software R&D practices and continuous efficiency improvement 130 136 In Q2’21: 122 115 134 50 • Adjusted operating margin anticipated to be above Q2’20 level 10.1% 15.0% 21.7% 26.2% 20.1%

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 31

Financial Services Solutions

Business highlights Organic growth* 3% Revenue EUR 112 million, organic growth* 3% Adj. EBITA** Adjusted EBITA** EUR 12.3 (11.7) million, 10.9% (11.0) 12.3% (down 0.1%) Covid-19 impact appr. -3% Growth primarily driven by Cards services 100 Investment level maintained to support delivery of won new business in cards and core banking In Q2’21: 109 112 50 107 102 101 • Adjusted operating margin anticipated to be at or above Q2’20 level 11.0% 11.8% 15.2% 14.0% 10.9%

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 32

Product Development Services

Business highlights Organic growth* -8% Revenue EUR 37 million, organic growth* -8% Adj. EBITA** Adjusted EBITA** EUR 4.4 (5.0) million, 12.0% (12.9) 50 12% (down 0.9%) Covid-19 impact appr. -5% mostly affecting 40 Healthy profitability maintained Automotive industry starting to recover and telecom / 30 5G picking up – supporting growth outlook In Q2’21: 20 36 37 39 34 33 • Adjusted operating margin anticipated to be at Q2’20 level 10 12.9% 11.5% 12.3% 13.8% 12.0%

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 33

International Operations – serving European and US customers

Consistent revenue growth and solid business opportunities within 2020 revenue Organic growth in Q1 future digital services EUR 130 22% million Focus on digital and data • cloud transformation

• cloud-native software development About International Operations

• data and analytics • Digital consulting services for markets outside the Nordics

• Deliveries through scalable centers in India and Ukraine Strong cloud-oriented • Focus on industrial, public and telecom sectors in Europe, partnerships, particularly with SAP healthcare, and professional services in the US and Microsoft • International operations included in reporting segment Other