Appear ASA Annual report 2025

17 Mar 2026 23:50 CET

Oslo, Norway, 17 March 2026 - Appear, a global leader in live production
technology, today published its 2025 Annual report. The report is enclosed in
pdf format and European Single Electronic Format (ESEF).

"2025 was a strong year with significant milestones for Appear, delivering
solid growth while strengthening profitability and maintaining financial
discipline," CEO of Appear Thomas Bostrøm Jørgensen said, and continued:

"As global sports media rights values continue to increase, so does the need
for resilient, scalable production technology infrastructure. Appear operates
precisely at this intersection, providing extremely reliable, cost- and energy
efficient hardware and software solutions for sports leagues and federations,
broadcasters and streaming platforms, production service providers, and
connectivity providers. Live broadcast simply can't fail. That's why giants
like Formula 1, Netflix, NHL, NFL, Premier League and many more rely on us,
and continue to expand their customer relationships year by year."

The figures in the annual report are fully consistent with Appear's Q4 report
published on February 12 2026. 2025 revenue was NOK 800.9 million,
representing 32.3 percent year-on-year growth. Since 2021, Appear has achieved
a revenue CAGR exceeding 30 percent. Underlying EBITDAC[1] reached NOK 142.2
million in 2025, corresponding to a margin of 17.8 percent. Gross margins
remained strong at approximately 72 percent. Net profit reached NOK 129.2
million.

For 2026, Appear guides toward approximately NOK 1.0 billion in revenue,
representing around 25 percent year-on-year growth. The medium-term ambition
remains annual revenue growth of 25--30 percent combined with EBITDAC margins
between 17 and 20 percent.

"In 2026, we are sharpening our focus on delivering the capabilities that
matter most for our customers and for the future of live production. We will
deepen our partnerships with leading broadcasters, streaming platforms and
sports organisations in the Americas and EMEA, continue expanding our
footprint within live production across Asia Pacific, and strengthen our role
within both live sports and live news," Thomas Bostrøm Jørgensen ends.

The annual report is available live here
(https://appear.wrep.it/2025-annual-report). The pdf format and European
Single Electronic Format (ESEF). All materials are available here
(https://www.appear.net/investors/reports-and-presentations/).

[1]Note that EBITDAC and Underlying EBITDAC are alternative performance
measures. EBITDAC is calculated by adding capitalised development expenditure
to EBITDA, reflecting operating performance, and Underlying EBITDAC excludes
the impact of items that are considered exceptional, here IPO costs. EBITDAC
and other alternative performance measures (APMs) are defined and reconciled
to the IFRS financial statements as a part of the APM section of the fourth
quarter 2025 financial report.

ENDS

For further information, please contact:
IR and media contact - Jo Christian Lund-Steigedal, Corporate Communications
AS
+47 415 08 733 | jcs@corpcom.no

About Appear ASA
Headquartered in Oslo, Norway, Appear designs and delivers high-capacity,
sustainable solutions for media processing and live content delivery. The
Company's technology enables the capture, transport, and processing of live
video from sports stadiums, concert arenas, and other venues to the viewers
within milliseconds, ensuring superior video quality and reliability. Appear
serves broadcasters, production companies, content owners and network
operators worldwide who rely on its live production technology to deliver the
world's most demanding live productions.

More information:
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668633_Appear ASA 2025 Annual Report.pdf
668633_636700OJYMZPJZ0ZO361-2025-12-31-1-en.zip