Creating digital advantage for businesses and society

Investor presentation Outline

• TietoEVRY in brief

• Setting the growth agenda

• Merger and integration status

• Financial targets and capital priorities

• Investment highlights

• Q4 financial performance

• Appendix

2 TietoEVRY in brief 4 Diversified business with strong Nordic market presence

Other 32% Markets • Nordic enterprises and public sector 24% with >80% of revenues • Global software and product development services Norway 31%

Product Development Services 5% Other Creating digital Financial Services Digital advantage for Solutions 15% consulting 25% Services 2020 • Software Revenue: 2.786 MEUR businesses and • Consulting EBITA adj: 12.7% society – Industry software 17% • Infrastructure augmented by Cloud & Infra 34% TietoEVRY merger

Other Sweden 19%

Ukraine Employees 8% • Among largest Nordic technology Norway 19% employer ~12000 India 19% • ~24000 employees serving customers in ~80 countries

Czech Finland 13% 10% 5

Our five service lines Bringing global capabilities to the Nordics Revenue 2020 International operations Product 4 % Digital Consulting , system integration, managed application Development Services Consulting 25 % services across customer experience management, 5 % Digital Consulting business applications, analytics, cloud advisory and cloud Financial Services native development Solution 15 % €2.786m Managed cloud, security and end-user services, including Cloud & Infra Industry cloud migration advisory and transformation Software 17 %

Cloud and Infra 34 % Industry specific Software, SaaS solutions including related for Public sector, (Case management, Industry Software Healthcare, Welfare, Education), Industrial (Oil & gas, Adj*. EBIT 2020 , Utilities) and Data platform services Product International operations Development 7.6% Services;12.7% Digital Consulting; Software, SaaS, platform based BPO and related 14% Financial Services professional services for core processes and functions for Financial Financial Services industry - Core banking, Payments incl Services Solutions Solution; Cards, Credit and wealth management 13.0% €355m / 12.7% Product Advanced software R&D services across Telecom, Cloud and Development Infra; 10% Automotive, Consumer Electronics industries Industry Services 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 during 2020

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 Avoided On carbon emissions 2025

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

Growth drivers 9

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%

Drive software Key choices 2 DevOps and automation differentiation and driving growth expansion profile and business mix End-to-end solutions Payments software and cards services 3 addressing customer complexity Nordic healthcare and citizen services >10%

Product Development Services

Sensitivity: Internal 10

Consistently improving digital business mix

Revenue mix Investment mix**

Digital Design, Customer Experience • High growth in Digital Services Cloud, Data & Insights Software/SaaS >70% driving sustainable growth Product Development Services 49% 60% • DevOps and automation transforming managed services

• Accelerated decline in traditional Transforming infrastructure services with cloud Managed services (apps and infra), adoption packaged software, system 29% integration >20% 27% • Investment level 4-5% of revenues focusing on Digital capabilities, Traditional AIOps and software development Custom infrastructure services, 22% legacy applications and 13% <10% software 2019 2023 *Offering development investments

Sensitivity: Internal 11

Merger and integration update 12

Integration fully on schedule and consistently realizing merger benefits

Integration focus area Current status

Integrated structure • 2020: Integrated structure, roles and businesses globally and leadership • 2021: Leadership and organization focused on growth

Common processes • 2020: Common system implementation (e.g. Office, HR, CRM) completed and systems • 2021: ERP and common systems functional

Integrated go-to-market • 2020: Common value propositions and delivery models – initial wins and service portfolio 2021: Consistent value drivers in all markets – high market activity

Employee engagement • 2020:Cultural foundation, high employee engagement 76 (/100) and cultural integration • 2021: Focus on culture, individual growth and performance

Synergy planning and • 2020: EUR 80 million synergy run rate executed by 2020 realization • 2021: Progress on track to deliver upgraded EUR 100 million synergies

Q3 status Q4 status 2021 ambition 13

Target merger efficiencies a EUR 100 million

EUR 100 million merger efficiencies achieved within three years Merger efficiency run -rate at end of year (EUR million)

• Target merger efficiencies unchanged at EUR 100 120 million, merger efficiency run rate of EUR 80 million executed by end of 2020 5-10 100 100 10-15 80 • 2020 EBIT impacted by synergies of EUR 30 million 80

• Merger efficiency run-rate of EUR 90-95 million 60 expected by end of 2021 40

• One-time integration costs in 2020 of EUR 84 million, 20 total cost estimate of EUR 110-120 million unchanged 0 2020 2021 2022 Total

EUR 110-120 million of one-time integration cost expected in 2020-2022 Financial targets and capital allocation priorities 15

Financial targets 2023

EBITA adjusted One-time items ~1% Accelerating growth Increased dividends Net debt/EBITDA <2 increase to 15% by of revenues post to 5% by 2023 annually by end of 2022 2023 2021

Revenue growth* Adjusted EBITA One Time Items as % Dividend per share** Net debt / EBITDA of revenue 15% ~6% 2.70 5% 11.6% €1.27 <2 2.7%

~1%

2019 2023 2019 2023 2020E 2022 2019 2023 2019 2022

*Excluding large M&A, adjusted for FX. 2019 unofficial combined financials ** Baseline 2019 original dividend proposal of 1.27 €/share 16

Service Line financial targets

Growth by 2023 EBITA (adj) by 2023 • Scale data and cloud capabilities across Nordics and delivery centers Digital Consulting 7–9% 15–17% • 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 Industry Software 6–8% 20–22% expansion • 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% • Continue efficiency drive and invest for Services scale

TietoEVRY 5% 15% 17

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

3 Distribution of Extraordinary dividend excess capital

*baseline 2019 original dividend proposal of 1.27 €/share Confidential 18

Q4 financial performance 19

TietoEVRY

Q419 Q420 -9% Business highlights Revenue

• Revenue EUR 712 million, organic growth* -6.3% Adj. EBIT ** • Reported growth -8.5%, currency impact EUR -12.6 million /1.8% Adj. EBIT %** 778 712 • Adjusted EBIT** EUR 106.4 (105.2) million, 14.9% (13.5) • Currency impact EUR -2.0 million 14.9%

• Reported EBIT EUR 77.8 (56.7) million, 10.9% (7.3) 13.5% • One-time items EUR 28.5 million as planned

• Covid-19 impact appr. -4% on revenue

• Profitability improvement driven by synergy contribution and 105 106 strong profitability in Industry Software and Digital Consulting

• Strong order intake with book-to-bill 1.3

• Strong operative cash flow of EUR 125 million * Adjusted for currency effects, acquisitions and divestments **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 20

2020 key financial figures – strong performance in a year of integration and Covid-19

EBIT Adj.** Operating cash Revenue € 355m flow € 2.786m 12.7% € 355m Strong profitability and cash flow enabling deleveraging and Revenue growth EBIT attractive dividends Reported -6% € 146.9m Net debt / EBITDA 2.5 Organic* -2% 5.3%

The Board proposes a dividend at EUR 1.32 per share - representing a dividend yield of 4.9%

* Adjusted for currency effects, acquisitions and divestments **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 21

2021 Growth profile

H1 2021 H2 2021

Industry Software • Resilient and strong software businesses – Financial Services Financial Services Solutions supported by Solutions recent strong wins

• Growth choices with Cloud, Data and Devops Product Development to drive scale H2’21 – impacting Digital Services Consulting and Cloud & Infra

Digital Consulting • Product Development Services returning to growth post Covid-19

• Negative organic growth expected in Q1’21 Cloud & Infra • Growth accelerating during H2’21

Growth contribution towards 2021 guidance

Negative Neutral Positive 22

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

All Service Lines expected to grow in 2021, except Covid-19 negatively impacting market growth Cloud & Infra in H1, normal marketMarket conditions opportunity, from H2 business objectives and drivers of competitiveness TietoEVRY expects revenue to grow -1 to 2% impacted by lost customer headwinds from Cloud Integration focus shifting to growth - growth & Infra of appr. -2.5% programs launched inRoundtable all key markets discussion of market drivers and opportunities

Realize value from the merger and begin market share gains 23

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 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 Group structure and leadership

International Product Development Finland, Satu Kiiskinen Services (PDS)

Sweden, Karin Schreil Tom Leskinen

Country teams Norway, Christian Pedersen

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

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

29 Group structure and 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 PDS Integration Officer Head of Operations Head of HR Head of Strategy CFO Tom Leskinen Malin Fors-Skjæveland Ari Järvelä Trond Vinje Kishore Tomi Hyryläinen Ghadiyaram

30 31

Q4 financial performance 32

TietoEVRY

Q419 Q420 -9% Business highlights Revenue

• Revenue EUR 712 million, organic growth* -6.3% Adj. EBIT ** • Reported growth -8.5%, currency impact EUR -12.6 million /1.8% Adj. EBIT %** 778 712 • Adjusted EBIT** EUR 106.4 (105.2) million, 14.9% (13.5) • Currency impact EUR -2.0 million 14.9%

• Reported EBIT EUR 77.8 (56.7) million, 10.9% (7.3) 13.5% • One-time items EUR 28.5 million as planned

• Covid-19 impact appr. -4% on revenue

• Profitability improvement driven by synergy contribution and 105 106 strong profitability in Industry Software and Digital Consulting

• Strong order intake with book-to-bill 1.3

• Strong operative cash flow of EUR 125 million * Adjusted for currency effects, acquisitions and divestments **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 33

Digital Consulting

Q419 Q420 -8% Business highlights Revenue

• Revenue EUR 173 million, organic growth* -5.7% Adj. EBIT ** • Adjusted EBIT** EUR 29.9 (24.0) million, 17.3% (12.7) Adj. EBIT %** • Covid-19 impact appr. -6% on revenues 173 • Revenue level temporarily impacted by integration and project 189 portfolio quality improvement with focus on profit

• Profitability development driven by continuous efficiency 17.3% improvement and mitigation of Covid-19 12.7% • Digital Consulting is anticipated to return to growth in H2’21 as Covid-19 situation is expected to improve 30 • In Q1’21: 24 • Covid-19 impact anticipated to remain at Q4’20 level

• Adjusted operating margin anticipated to be at or above Q1’20 level * Adjusted for currency effects, acquisitions and divestments **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 34

Cloud & Infra

Q419 Q420 -14% Business highlights Revenue • Revenue EUR 227 million, organic growth* -13.4% Adj. EBIT ** • Adjusted EBIT** EUR 19.3 (34.7) million, 8.5% (13.1) Adj. EBIT %** • Revenue decline caused by: • Lost customers during 2019 – impact appr. 7% 265 • High comparative in Q4’19 - impact appr. 5% 227 • Covid-19 impact appr. 2%

• Temporarily lower profitability until summer 2021 due to volume 13.1% development and incremental costs relating to quality improvement 8.5% and process harmonization from renewed IBM partnership

• Quality improvements gaining customer trust – no new contract losses from any sizeable customers since mid-2020. 35 • In Q1’21: 19 • Pre-merger customer losses estimated to peak in Q1’21, impact appr. 11% * Adjusted for currency effects, acquisitions and divestments • Revenue decline slightly more than Q4’20 - anticipated to **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, bottom out in Q1’21 capital gains/losses, goodwill impairment charges and other items affecting comparability • Adjusted operating margin anticipated to be below Q1’20 level 35

Industry Software

Q419 Q420 -2% Business highlights Revenue

• Revenue EUR 134 million, organic growth* -0.6% Adj. EBIT ** • Adjusted EBIT** EUR 35.1 (25.8) million, 26.2% (18.9) Adj. EBIT %** • Covid-19 impact appr. -3%, primarily in industrial sector 137 134 • Continuing strong growth in Welfare, up by 24%

• Strong profit development driven by systematic transformation of global software R&D practices and continuous efficiency 26.2% 18.9% improvement

• In Q1’21; 26 35 • Covid-19 impact anticipated to remain at Q4’20 level • Adjusted operating margin anticipated to be above Q1’20 level * Adjusted for currency effects, acquisitions and divestments

**Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 36

Financial Services Solutions

Q419 Q420 -7% Business highlights Revenue

• Revenue EUR 109 million, organic growth* -2.9% Adj. EBIT ** • Adjusted EBIT** EUR 15.2 (17.2) million, 14.0% (14.7) Adj. EBIT %** • Significant large new customer wins (, Eika ) supporting growth agenda 117 109

• Revenue impacted by Covid-19 appr. -3% mainly due to lower activity in Cards services, high comparative in Q4’19 14.7% 14%

• Investment level maintained high to support delivery of won new business

• In Q1’21; 17 15 • Covid-19 impact anticipated to remain at Q4’20 level

• Adjusted operating margin anticipated to remain at Q1’20 * Adjusted for currency effects, acquisitions and divestments level **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability 37

Product Development Services

Q419 Q420 -8% Business highlights Revenue

• Revenue EUR 36 million, organic growth* -9.7% Adj. EBIT ** • Adjusted EBIT** EUR 5.0 (4.4) million, 13.8% (11.1) Adj. EBIT %** • Covid-19 impact appr. -6% mostly affecting the 39 36 • High market activity and pipeline development in 5G Radio

and 5G Core continue 13.8% 11.1% • Increased profitability driven by effective cost base management and mitigation of Covid-19

• In Q1’21; 4 5

• Covid-19 impact anticipated to remain at Q4’20 level

• Adjusted operating margin anticipated to be below Q1’20 * Adjusted for currency effects, acquisitions and divestments level **Adjusted for amortization of acquisition-related intangible assets, restructuring costs, capital gains/losses, goodwill impairment charges and other items affecting comparability