Q2 2023 results presentation

The following primary insiders have decided to purchase shares in Elmera Group ASA ("the Company") from the Company: Steinar Sønsteby (Chair of the Board of Directors): 2 539 shares, holding a total of 18 668 shares in the Company after the transaction Live Haukvik (Board Member): 1 870 shares, holding a total of 6 870 shares in the Company after the transaction Anne Marit Steen (Board Member): 1 681 shares, holding a total of 1 681 shares in the Company after the transaction Per Oluf Solbraa (Board Member): 1 454 shares, holding a total of 4 254 shares in the Company after the transaction Heidi Ose (Board Member): 1 681 shares, holding a total of 3 181 shares in the Company after the transaction Frank Økland (Board Member): 504 shares, holding a total of 1 149 shares in the Company after the transaction Stian Madsen (Board Member): 504 shares, holding a total of 2 009 shares in the Company after the transaction Magnhild Uglem (Board Member): 504 shares, holding a total of 1 079 shares in the Company after the transaction In total, 10 737 shares will be transferred from the Company's holding of treasury shares to the Board Members. The purchase price is NOK 21.6663 per share, which is the volume weighted average price from 17 August and 18 August. After this transaction, the Group holds 5 693 522 treasury shares. For further information, please contact: Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526

Exercise of employee share options in Elmera Group ASA ("the Company"). Employees in the Company have on 18 August 2023 exercised 13 332 options. The options had an average strike price of NOK 19.30. Each share option corresponds to one share. The company's liability with respect to the scheme will be met through existing holdings of treasury shares. As of 18 August 2023, Elmera Group ASA holds 5 704 259 treasury shares. The payment has been determined based on a selling price of NOK 20.4617 No options have been exercised by primary insiders. For further information, please contact: Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526

Q2 2023 Highlights: -Net revenue adj. NOK 376m (-10% YoY) and EBIT adj. NOK 106m (-24% YoY). -2% volume growth YoY in Norway driven by growth in number of deliveries. 26% volume decrease in the Nordic segment due to fixed price exposure phase-out. -EBIT adj. improvement of NOK 25m YoY in the Nordic segment following the phase-out of legacy fixed price contracts. -Successful migration of mobile customer portfolio to Telia's network. Migration related churn of 15 thousand subscriptions - in line with expectations. -Cost efficiency programme on track. -Proceeds from Telia transaction (NOK 115m) received and dividend of 1.5 per share (NOK 163m) distributed. -QoQ reduction in NWC and NIBD by NOK 350m and NOK 355m respectively. Significant YoY improvement in the Nordic segment and strong cash flow In the second quarter of 2023, net revenue adjusted was NOK 376m and EBIT adj. was NOK 106m. The decrease from second quarter 2022 was primarily driven by product mix changes in the Consumer segment, as the market is converging towards spot-based products. Over the last twelve months the percentage of variable contracts in the consumer segment has been reduced from 27% to 7%. The Nordic segment improved significantly compared to second quarter last year - in fact, the EBIT adj. of NOK 18m is the second-best quarterly result since the acquisition of Switch Nordic Green in 2020. The majority of legacy fixed price contracts with price and volume risk have now been phased out, and the focus going forward is to improve profitability and growth in the segment. The Telia transaction was completed in April, and the proceeds from the transaction of NOK 115m were received. The migration of the customer base to Telia's network is the largest of its kind in Norwegian telecom history and was successfully completed in the quarter. The migration related churn has been in line with expectations. Through improved terms from Telia, the mobile business will positively impact the profits in the New Growth Initiatives segment from Q3 2023. The cost efficiency program is progressing as planned and is one of the Group's main priorities in 2023. Due to the reduction in net working capital and the results generated in the period, net cash from operating activities was NOK 417m and net interest-bearing debt decreased by NOK 355m. Please find attached the quarterly report and quarterly presentation. Results Presentation: Time: 17 August 2023 at 08.00 CET The presentation will be webcasted live at: https://channel.royalcast.com/landingpage/hegnarmedia/20230817_10/ For further information, please contact: Morten A. W. Opdal, Head of Group Accounting, Reporting and IR, +47 970 62 526