Oslo, Norway, 24 June 2025 - Link Mobility ("LINK") announces the acquisition of
SMSPortal, a market-leading provider of A2P (Application-to-Person) messaging
services in South Africa, with substantial international business. Through this
acquisition, LINK executes on its inorganic growth strategy and expands its
footprint beyond Europe.  

"We are pleased to announce the acquisition of SMSPortal, the number one player
in an attractive market with further growth opportunities within the A2P market
and high growth potential from introducing LINK's more advanced CPaaS
solutions," said Thomas Berge, CEO of LINK. 

SMSPortal is a pure A2P SMS messaging provider with a stable base of large local
and international customers combined with a long tail of small and medium
customers, predominantly within the enterprise segment. Its operations and
customer base offer a strong strategic fit with LINK's existing business model
and product offering.  

The acquisition reinforces LINK's trajectory of robust growth and profitability.
For the last 12 months ended April 2025, SMSPortal generated group revenues of
USD 112 million and a group EBITDA of USD 25 million, translating to an
attractive EBITDA margin of 22%. 

Compelling financial and strategic rationale 

The total purchase price is USD 115 million before conditional payment. The
transaction will be settled through an upfront cash payment of USD 100 million,
financed with cash on hand, and an equity consideration of USD 15 million,
implying an attractive multiple of 4.6x cash EBITDA. The equity component will
be settled with 5.9 million shares issued at a price of NOK 26 per share.  

In addition, the agreement includes a conditional payment potential of up to USD
30 million, for a total purchase price of up to USD 145 million. The conditional
payment will be paid in two annual tranches, contingent upon SMSPortal meeting
predefined targets. 

The transaction is expected to close in Q3 2025, subject to regulatory approvals
and customary closing conditions. 

"The acquisition perfectly aligns with LINK's M&A playbook and extends our
footprint to a new market with predictable market conditions, stable legislation
and robust telco regulations. In addition to SMSPortal providing a solid
foundation for further profitable growth, the transaction is also highly
accretive to LINK's own valuation," Berge continued. 

SMSPortal will continue to operate as an independent business unit, maintaining
its own identity and brand. Its existing leadership and employees will operate
primarily from the Cape Town headquarters, serving both local and international
customers 

"Being a part of a European industry leader like LINK enables us to enhance our
product offering," said Andre Ittmann, CEO of SMSPortal. "By leveraging LINK's
established expertise, resources and products, we can deliver better
communications services to an even broader and more diverse local and
international customer base, driving accelerated profitable growth with
sustained high margins." 

Robust track record and growth momentum  

Over the past three years, SMSPortal has significantly scaled its operations,
with group revenue increasing from USD 65 million to USD 112 million, driven by
consistent market expansion and strong customer retention across its local and
international customer base.  

Gross profit has grown at a remarkable rate, with a CAGR of 43% over the last
three years, while EBITDA more than doubled over the same period from USD 11
million to USD 25 million. With an EBITDA margin improving from 17% to 22%, the
transaction is immediately EBITDA accretive. 

The acquisition implies a cash EBITDA multiple of 4.6x based on the USD 115
million upfront consideration. Including the conditional payment of up to USD 30
million, the total purchase price could reach USD 145 million, corresponding to
a multiple of up to 5.8x. 

On a pro-forma basis, LINK's net interest-bearing debt (NIBD) as of Q1 2025
increases to NOK 2.0 billion, translating to a pro-forma leverage ratio of 1.8x
taking considering receivables from US divestment, well within LINK's target
range of 2.0x-2.5x. The strong cash position and disciplined capital structure
provide ample flexibility for future strategic initiatives. 

SMSPortal's high-margin revenue base, strong customer relationships, and strong
growth potential provide a solid foundation for continued stable and profitable
growth in the attractive South African market. Looking ahead, SMSPortal is
expected to deliver high single-digit annual gross profit growth from current
operations, supported by stable or improving margins. Additional upside is
expected from the rollout of LINK's high-margin CPaaS products, including
conversational solutions on RCS and WhatsApp. 

Presentation with management 

LINK Mobility invites investors, analysts and media to participate in a live
presentation at 10:00 CEST today, 24 June, in which Thomas Berge, CEO, and
Morten Løken Edvardsen, CFO & VP Investor Relations, will elaborate on the
strategic and financial rationale of the acquisition, followed by a Q&A session.
 

The presentation materials are enclosed and available on
http://www.linkmobility.com/investors. Participants can access the live webcast
via the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20250624_2/ 

For further information, please contact:  

Morten Løken Edvardsen, CFO & VP Investor Relations  
+47 90 56 15 89 
ir@linkmobility.com 

 
About LINK Mobility  
LINK is an award-winning, leading global provider of mobile messaging and
communications platform as a service (CPaaS) solutions for increased engagement.
The company serves enterprise, SME and government customers. LINK offers a wide
range of innovative and scalable mobile solutions, creating valuable digital
convergence between businesses and customers, governments and citizens,
platforms and users. LINK has more than 50,000 active customer accounts globally
and exchanges more than 21 billion messages a year. LINK is listed on the Oslo
Stock Exchange under the ticker LINK. For more information about LINK, please
see www.linkmobility.com and follow LINK Mobility on LinkedIn. 

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 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Morten Løken Edvardsen, CFO & VP Investor
Relations at LINK Mobility Group Holding ASA, on 24 June 2025 at 06:00 CEST.