621% — 238% aGEP YOY growth

aGEP growth from 2025 →2026 & 2026 → 2027

912% — 260% GWP YOY growth

GWP growth from 2025 →2026 & 2026 → 2027

€1M → €31M aGEP

aGEP growth from Q1 2026 → Q2 2028

€2.7M → €130M GWP

GWP growth from Q1 2026 → Q2 2028

24000

22000

20000

18000

16000

14000

12000

10000

8000

6000

4000

2000

1000

Q1 2026

Q2 2026

Q3 2026

Q4 2026

Q1 2027

Q2 2027

Q3 2027

Q4 2027

Q1 2028

Q2 2028

€2.7M

€3.8M

€11.9M

€23.7M

€36.9M

€51.6M

€67.7M

85.4M

107.1M

130.2M

120000

110000

100000

90000

80000

70000

60000

50000

40000

30000

20000

10000

1000

(aGEP in EUR, Thousands)

(GWP in EUR, Thousands)

Revenue growth

GWP

New aGEP

Churned aGEP

Revenue projection

We are driving cost-efficient acquisition and revenue growth faster than any other Nordic insurtech.

Burn multiple:

Q2 ‘26: 2,10x

Q3 ‘26: 0,47x

Q4 ‘26: 0,22x

Q1 ‘27: 0,19x

Q2 ‘27: 0,07x

Q3 ‘27: 0x

Growth drivers. Three structural step-changes drive the curve from Q2 2026 onwards. (1) Delegated Authority closed June 2026 lifts net economics on the embedded book from ~45% to 65%+, increasing Frankly's revenue per policy by ~44% on the existing book before any volume growth. (2) Classical suite launched July 2026 adds five classical lines (home contents, car, pet, liability/PA, travel) with materially higher per-policyholder GWP than embedded device protection, driving GWP per policyholder from ~€86/yr to ~€491+/yr. (3) Embedded partner pipeline (Soundboks, Bike&Co, Daells Bolighus, Hi-Fi Klubben, AndLight) ramps from H2 2026, with Soundboks alone targeting 150.000-200.000 new policies annually. The decelerating growth rates from Q1 2027 onwards reflect the natural maturation of these compounding effects as the base grows.