October-December

• Net sales for the quarter improved to EUR 49.4 (41.9) million. Organically, net sales increased by 16.3%
• During the quarter the contract portfolio value decreased by net EUR -8.2 million. Three contracts were scaled down, seven contracts were renewed, and five contracts were lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 209.7 million, compared to EUR 172.8 million prior year, and EUR 217.9 million at the end of the third quarter of 2022
• Operating loss for the quarter amounted to EUR -12.7 million, compared to a loss of EUR -1.6 million prior year
• Adjusted EBITDA amounted to EUR -1.5 million compared to EUR 0.7 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the quarter was EUR -1.5 (0.7) million. Adjusted EBITDA with IFRS 16 implementation was EUR -1.1 (1.3) million
• Cash flow from operating activities amounted to EUR 5.8 (2.4) million, of which change in working capital amounted to EUR 8.2 (3.1) million
• Net loss for the continuing business amounted to EUR -14.6 million compared to a loss of EUR -5.6 million prior year
• The Adjusted EBITDA for discontinued operations was EUR 0.6
  (0.2) million and the net profit was EUR 0.7 (0.2) million, which is not included in the reported numbers above
• Group net loss for the quarter, including discontinued operations, was EUR -13.9 (-5.5) million

January-December

• Net sales for the period amounted to EUR 179.4 (164.4) million. Organically, net sales increased by 7.7%
• Operating loss amounted to EUR -9.7 million, compared to EUR
  -2.8 million prior year
• Adjusted EBITDA amounted to EUR 4.7 million compared to EUR 7.2 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the period was EUR 4.6 (7.3) million. Adjusted EBITDA with IFRS 16 implementation was EUR 6.7 (9.8) million
• Cash flow from operating activities amounted to EUR 7.7 (-1.8) million, of which change in working capital amounted to EUR 9.8 (-3.1) million
• Net loss for the continuing business amounted to EUR -21.9 million compared to a loss of EUR -15.5 million prior year
• The Adjusted EBITDA for discontinued operations was EUR 0.5
  (-0.9) million and the net profit was EUR 0.6 (-7.4) million, which is not included in the reported numbers above
• Group net loss for the period, including discontinued operations, was EUR -21.3 (-22.9) million

Telephone conference

A telephone conference where management comment on the report is held at 10:00 CET on February 24, 2023. Details for participation by telephone are found ahead of the call on www.quantservice.com/investor