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Investor Presentation August 2021

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Investor Presentation August 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 786m • Infrastructure society – Industry Adj. EBITA: 12.7% software 17% augmented by Cloud & Infra 34% TietoEVRY merger Other Sweden 19% Employees Ukraine • Among largest Nordic 8% technology employer ~12 000 Norway 19% India • ~24 000 employees serving 19% customers in ~80 countries Czech Finland 13% 10% 5 Our five service lines Revenue 2020 International Bringing global capabilities to the Nordics Product operations Digital Development 4 % 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*. EBITA 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 Highlights on ambitions relating to sustainable operations Fair and green PEOPLE Gender Human Zero balanced rights supply Breaches of Workforce by 2030 Risk and impact chain privacy assessment in the value chain Carbon neutral In own operations by 2025 100% Avoided PLANET 100% 80% Circularity Use of Reduction of emissions Reuse and green electricity in CO2 emissions in Increase customer recycling of datacenters scope 1 and 2 in avoided CO2 with 10- hardware - own and and offices 2020-2023 15% annually customer 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 Q2’21 Business highlights Organic growth* 2% Revenue EUR 722 million, organic growth* 2% Adj. EBITA** • Reported growth 5%, currency impact EUR 30 million 800 12.2% (up 0.5%) Adjusted EBITA** EUR 88.3 (80.4) million, 12.2% (11.7) 722 600 686 712 644 712 Growth profile in all businesses improved from Q1’21 Strong growth in Industry Software (13%) and Financial Services Solutions (9%) 400 Impact from pre-merger lost customers in Cloud & Infra appr. 3.5% 200 11.7% 14.0% 14.9% 11.5% 12.2% Profitability improvement driven by solid performance in software businesses and synergy contribution 0 Q220 Q320 Q420 Q121 Q221 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 H1 2021 H2 2021 Industry Software Growth agenda materializing as planned Financial Services Solutions Group growth of 2% in Q2’21 Product Development Services H2’21 all service lines except Cloud & Infra Digital Consulting positively contributing to growth ambition Cloud & Infra International Operations Growth contribution Negative Neutral Positive towards 2021 guidance Sensitivity: Internal 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,
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