Operating revenue increased by 5.1 per cent in the fourth quarter of 2025, from NOK 4 883 million to NOK 5 132 million (+2.4 per cent in constant currency). The overall sales development was supported by continued positive market dynamics and another strong peak season.

The positive gross margin trajectory seen throughout 2025 continued in the quarter with a moderate uplift of 0.1 pp. The year-over-year development reflects tougher comparisons as well as the absence of certain temporary effects present in the comparable quarter last year. The gross margin reached 14.0 per cent in the fourth quarter, resulting in a 5.2 per cent improvement in gross profit (+2.5 per cent in constant currency).

Operating expenses declined by 1.9 per cent in constant currency as the cost and restructuring measures offset the effects from general inflation and growth investments. The implemented measures will be reinforced as required with the aim of maintaining a stable and controlled cost base.

EBIT adj. amounted to NOK 102 million in the fourth quarter of 2025, representing an uplift of NOK 25 million compared with NOK 77 million in the same period of 2024.

In light of the delayed recovery in the Swedish entities, non-cash impairment charges of NOK 536 million have been recognised, which reduces the balance sheet risk associated with these operations. These impairments do not affect the underlying operation or the group's future opportunities in Sweden, where the brands hold a very strong position.

At the end of December, the group's leverage ratio, defined as NIBD / LTM EBITDA (adjusted for certain items), was 1.4x. The net debt level at year-end was positively affected by a temporarily high liquidity position which is expected to seasonally adjust during Q1.

Looking ahead, the group notes a generally favourable market environment, although innovation cycles and the supply of memory components may become more challenging moving forward.

"The fourth quarter represented another solid peak season for the group, showing improvement on a strong corresponding period in the previous year. Operations in Norway continued to perform well, with especially good progress in the highly competitive gaming segment. Our sales development was however impacted by ongoing efforts to prioritise margin quality across the NetOnNet footprint in Sweden and Norway," says Ros-Marie Grusén, President and CEO of Komplett ASA.

"The group has made meaningful progress along its strategic and operational priorities, but continued attention will be required to fully unlock the group's long-term potential, and we will continue to develop our customer offering while strengthening our operational efficiency," Grusén adds.

The presentation material and report for the fourth quarter of 2025 are attached to this notice.

A presentation of the results will be held by CEO Ros-Marie Grusén and CFO Thomas Røkke at 09:00 CET in Storstua at Sommerro, Sommerrogata 1, Oslo.

The event will also be made available via a live webcast. Please use the following link to register and view the webcast:

https://qcnl.tv/p/aD4oEDAGekEZm8l1cAVf6Q

Questions will be addressed towards the end of the presentation. A recorded version of the webcast will be available shortly after the webcast has concluded.

For further inquiries, please contact:

Thomas Røkke, CFO
Thomas.Rokke@komplett.com

Kristin Hovland, Head of Communication
Kristin.Hovland@komplett.com

About Komplett ASA
Komplett Group is a leading online-first electronics and IT products retailer, operating in Norway, Sweden and Denmark. Serving customers in the B2C, B2B and distribution markets, the Group is deeply focused on delivering best-in-class customer experience, built through decades of know-how, expertise and deep customer commitment. Komplett Group operates an efficient and scalable business model that supports cost leadership and enables a competitive product offering.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Elise Heidenreich, Investor Relations adviser, at the date and time as set out above.