#1Acquisition of Pathwire 30 September 2021 Oscar Werner, CEO Roshan Saldanha, CFO Thomas Heath, Chief Strategy Officer & Head of Investor Relations sinch#2SEK 11.8bn revenue in the past 12 months SEK 132bn Market Cap Scalable cloud communications platform for messaging, voice and video 100% Customer engagement through mobile technology Consumer penetration SEK 1.2bn Adj. EBITDA in the past 12 months O 2,292 people 170 billion B2C engagements per year Growing, global, multi-billion USD market $ 47 countries with local presence sinch Listed on NASDAQ in Stockholm, Sweden Serving 8 of the 10 largest U.S. tech companies Profitable since our foundation in 2008 * Consolidated figures as of Q2 2021, excluding MessageMedia, Inteliquent, MessengerPeople, and Pathwire; with ACL, SDI, and Wavy consolidated less than 12 months.#3Transaction highlights 01 Leading cloud-based email communications platform 02 Proven, developer-centric go-to-market model 03 Well-positioned in a growing market 04 Highly attractive financial profile 05 Significant cross-sales opportunities PATHWIRE Empowering developers and marketeers to succeed with the world's most-used digital communication channel Fast setup, easy integration. Proven digital go-to-market model resulting with over 100,000 customers Market size estimated to USD 16 billion by Technavio, with Transactional email making up more than 60% of the market Historical revenue growth consistently above 30% with gross margin close to 80% and Adjusted EBITDA margin above 35% Mutual cross-sales opportunities to Sinch and Pathwire customers 3#4CPaaS throughout the customer journey ● ● Marketing Generate leads Add revenues Reduce churn Email with personalized discount offer Rich SMS with dynamic mobile landing page Personalized video to prevent bill shock • Use CPaaS functionality in own apps and products Improve efficiency ● Operations • Reduce cost ● Appointment reminders via SMS or WhatsApp Password reset via email One Time Passwords via SMS or voice call Voice calling with number masking ● ● Customer Service Handle customer support Improve customer experience • Reduce contact center cost ● Bots and Al to automate conversations • WhatsApp as complement to phone Click-to-chat in emails and on websites CPaaS, for Communications-Platform-as-a-Service, is a cloud-based, multi-layered middleware that simplifies the integration of communications capabilities such as voice, messaging and video into applications, services or business processes. Read more at Gartner.com 4#5Strengthening our developer go-to-market ● Enterprise ● Online lead-generation Lead with APIs and SaaS Target enterprise customers and indirect channel partners • Customers may have in-house development resources or use System Integrators Customers look for superior service delivery, global reach, end-to-end connectivity, compliance, and competitive pricing at high volumes sinch Message Media PATHWIRE ● Developer Online self-signup Lead with APIs Target developers, who may work for any size business Customers have in-house developer resources Customers look for intuitive UX, self-signup and self-service, SDKS, tutorials and code examples, strong documentation sinch Message Media PATHWIRE SMB* Online self-signup • Lead with SaaS & integrations Target small and medium sized businesses: local dentists, mechanics, etc. • Customers have limited development resources • Customers look for 'out-of-the-box' solution, ease-of-use, quick time-to- value, and ability to reach wanted business objective without coding sinch Message Media PATHWIRE * SMB = Small and Medium Sized businesses 5#6Improved margin profile and balanced product mix 40% 30% 20% 10% 0% Gross margin & Adjusted EBITDA margin 25% 33% 35% Gross margin L12M Q2 21 ■L12M Q2 21 proforma Proforma including Inteliquent, MessageMedia and Pathwire 10% 14% 16% Adj EBITDA margin ■L12M Q2 21 proforma + Pathwire 100% 75% 50% 25% 0% Gross profit by product 10% 85% L12M Q2 21 22% 18% 59% L12M Q2 21 proforma 19% 13% 16% 51% L12M Q2 21 proforma + Pathwire ■ Other ■ Operators Email Voice & Video ■Messaging 6#7Establishing a global leader in CPaaS Capabilities IDC MarketScape Worldwide Cloud Communications Platform as a Service Source: IDC, 2019 Avaya IMImobile Strategies Sinch Plivo 2019 Twilio Vonage Bandwidth MessageBird Leaders Major Players Contenders Participants Capabilities IDC MarketScape: Worldwide Communications Platform as a Service 2021 Source: IDC, 2021 Source: IDC MarketScape: Worldwide Communications Platform-as-a-Service ("CPaaS") 2021 Vendor Assessment (doc #US46746221, May 2021). An excerpt is available on sinch.com Soprano Design 8x8 CM.com - Plivo Telynx- AT&T Avaya Voximplant Alcatel-Lucent TeleSign Strategies Syniverse imimobile -IntelePeer 2021 Vonage MessageBird Sinch Infobip Bandwidth Kaleyra Microsoft Leaders -Twilio Major Players Contenders Participants 7#8Target market by product Programs Marketplace (internal and partners) Customer Success Plans Vertical and Regulatory Compliances Developer Blogs, Developer Relations, Certifications and Events Contact Center Sentiment Analysis SMS loT Unified Communications Source: Gartner, Market Guide for CPaaS, September 2021 NLP Voice Authentication Anonymization Notification IVR L5 Solutions Campaign Manager Web Chat SIP Trunks L4 - Intelligence/Al Analytics CRM L3 - Packaged Business Capabilities (Modules/Wrappers) Layer Advanced Payments Security (biometrics) CDP L2- Cloud Communications API Sinch including recent acquisitions Pathwire (Mailgun and Mailjet) Omni- channel Tele- Remote Learning medicine L1- Networking Layer Apple Business Google RBM WhatsApp Chat Chatbots Phone Numbers Short and Long Codes Video Emergency services Voice Bots Basic Security Email Network Interconnect Tools Visual Builders Templates SDKS and IDE Provisioning Monitoring Billing ● CPaaS tech stack as illustrated by Gartner Email is a key part of Level 2, "Cloud Communication APIs" ● Sinch with Pathwire is one of the very few, global CPaaS providers that can deliver leading quality at scale across all the main digital communications channels 8#9Leveraging M&A to meet strategic objectives Technology & Go To Market Scale and profitability ● ● ● ● ● ● ● Complementary technology that fits our strategic product roadmap Go To Market-ability in relevant products and geographies ncreased software value-add with higher gross margin Future growth drivers Acquire sticky customer relationships Add direct operator connections Leverage shared platform assets and extract synergies EV/EBITDA-accretive: acquiring profit at a valuation below our own 9#10Recent transactions mblox Technology & Go To Market Scale and profitability 2016 XURA Sinch! USA, Western Europe Voice, video, verification dialogue → 2017 Germany, Central Europe unwire Australia, Southeast Asia Nordics 2018 myElefant vehicle Rich messaging, Low code tools Personalized video 2019 Chatlayer.ai TWW Conversational Al Brazil WAVY SAP SAP Digital Interconnect Conversational messaging 2020 ACL Americas, Europe, APAC Latin America India inteliquent Voice 2021 messengerpeople Message Media SME USA, North America Australia PATHWIRE Conversational messaging Email Developer GTM North America 10#11Deal rationale: Pathwire Pathwire Deal rationale Integration Financials ● ● ● ● ● ● ● ● ● Founded in 2010 Leading developer-centric cloud-based email communications platform More than 100,000 paying customers using Mailgun and Mailjet products Headquarters in San Antonio, Texas, with around 290 employees worldwide • Sinch pays USD 925m in cash + 51m new Sinch shares; this implies an Enterprise Value of USD 1.9bn or SEK 16.6bn Transaction expected to close by the end of 2021. Integration cost of SEK 75 million expected over 18 months USD 132m revenues, USD 104m gross profit, USD 55m Adj EBITDA expected in 2021. Historical revenue growth consistently above 30% with gross margin close to 80% and Adjusted EBITDA above 35% ● Gain leading product offering for email - the world's most-used digital communication channel Dramatically strengthen developer go-to-market capabilities and differentiate vs competition Attractive financial profile with high growth and accretive margin profile Significant revenue synergies from mutual cross-selling of Sinch and Pathwire products to each others' customers Sinch's global footprint leveraged to accelerate international expansion and strengthen enterprise go-to-market Pathwire expertise in developer Go To Market leveraged across full Sinch product portfolio 11#12Transactional and marketing email Transactional Emails Lyft Ride Report > Inbox Lyft lyA 1 M Ride Report August 25, 2019 We attached the ride report you requested. Initiated by an Action Purchase Payment Password reset Account creation. Shipping notifications Social media updates 146bn business emails sent daily¹ Targeted Marketing Emails Get 10% off! Clain your discount code and other exclusive offers when you sign up for text messages. ENTER YOUR MOBILE PHONE NUMBER sign me upi 00 Tager over the rpreet to porahese Personalized for Each Individual Personalized recommendations Targeted offers Behavior triggered promotions Lead nurturing 7.7bn email accounts worldwide¹ Source: (1) Radicati Group, Email Statistics Report, 2021-2025 (2) Technavio Research, Global Transactional and Marketing Emails Market, 2021-2025 Broad Marketing Emails -25% Happy Independence Day Became independent from design tods. With Avococe everything you need be tum a design fo a webor a mobile app is automatically generated Directed at a Broad Group Promotions Newsletters Buy now Sign up now Special offers PATHWIRE $16bn market size, with >60% relating to transactional email 12#13Sending email is complicated Costly Cloud Infrastructure مال له ما اله EED B.B! ttt (@ ما لاله Multiple Email Senders Marketers Marketing Emails Personalized recommendations. Targeted offers Behavior triggered Lead-nurturing Promotions Newsletters Developers Purchase Payment Password reset Buy now Sign up now Special offers Transactional Emails Sending to a mailbox is easy, but sending to the inbox is another story entirely. Shipping notifications Social media updates Account creation Varying Protocols API's SMTP SPF DKIM DMARC Gatekeeping Inbox Providers YAHOO! Office 365 Hotmail xfinity. comcast. ➤ Over 90% of incoming email is blocked by inbox service providers, with only 8% of all email traffic making it to the inbox. Sophisticated Filters Phishing Complaints Invalid Addresses Spam Complaints Domain Reputation Blacklisted IPS Spam Traps Filtering Algorithms 3 PATHWIRE ► Deliverability is the rate in which your messages are being sent to the inbox. 13#14Mailgun: API platform for developers • Email sending • Email routing • Send time • Logs analytics ● optimization ● Suppression management • Domain and IP management Deliverability services Microsoft mailgun FOR DEVELOPERS AND BUSINESSES Get Started Pricing Microsoft Products Powerful APIs that enable you to send, receive and track email effortlessly Deliverability Services ✓ Solutions ✔ DELL The Leading Email Delivery Service for Businesses Around the World Docs & Blog CURL Python Java Ruby Contact curl -s user 'api: ENTER API KEY HERE https://api.mailgun.net/v3/mailgun.m DELL ANHEUSER ANHEUSER BUSCH -F from Mailgun Sandbox postmaster15.12% -F to Meow Gun meow.gundeailgun.com -F subject-'Hello neow gun F template='action F h:X Mailgun-Variables ("test) O Log In FOUR SEASONS BUSCH 2.33% Get Started control center Securty kes lyf NHL Š lyn ● ● ● ● mailgun by PATHWIRE ● 20+ API's, SDK's and plugins for developers Fast onboarding; product is usable in <1 minute • 98% delivery rate vs 83% industry average High performance for time-sensitive email messages Scalable, cloud-native infrastructure with 99.99% uptime Email delivery services for high volume senders 14#15Mailjet: sending platform for marketeers • Email editor . Collaboration • Campaign management • Contact management • A/B testing • Campaign analytics mailjet Pricing Al D Solutions. Why Mailjet? Enterprise- Resources. Build Together. Send Smarter. Drive your results with meaningful emails. VIDALOKA GREAT DEALS Get 20% off on your next trip Let's go! MARKETERS Email Marketing Get Started EXPRESS Request A Quote Contact Sales Login 1# This call sends a message to one recipient. -X POST --user SMJ_APIKEY PUBLIC SMJ APIKEY PRIVATE https://api.mailjet.com/v3.1/send 1 -H "Content-Type: application/json "Messages":[ "Email": "pilotmailjet.com. "Masljet Pilot" "Email": "[email protected]. Subject: "Your email flight plant DEVELOPERS Email API KAMERICAN THE BODY SHOP. Get Started EN- DHL- ● ● ● ● mailjet by PATHWIRE One of the most advanced drag-and-drop email builders on the market Seamless collaboration features for designers and developers Advanced automation to onboard new recipients, reward action and reactivate inactive users Inbox preview showing how emails will render across different devices and mailbox providers 15#16Pathwire manages the entire email lifecycle VALIDATE Collect real email addresses and clean your CRM periodically DEFINE Segment your audience to deliver personalized messages CREATE Create beautiful emails that reflects your brand û TEST Ensure your email renders perfectly and optimize content to hit the inbox SEND Fast and reliable delivery ensures your emails reach your customer's inbox PATHWIRE OPTIMIZE Advanced analytics and campaign statistics help you make every campaign better than the last 16#17Loved by developers, trusted by businesses SPRING 2021 MARKET LEADER Transactional Email Software High Performer FALL 2021 Feb 03, 2021 "The Best Email Delivery Platform" "We use Mailgun for just about everything, including transactional, invoices, newsletters, and customer support. The email delivers super fast straight to our customer's inboxes." "Mailjet" Aug 20, 2021 "The price is very reasonable and the reports are fantastic. I'm able to reach my target markets better when I download the reports and track who opens and "clicks" through my messages." MARKET LEADER "Mailgun makes it easy to track the delivery of emails without maintaining our own email infrastructure, subscribing to spam feedback loops, or developing our own bounce detection software." "Other services end up sending massive amounts of emails for large mailing lists which causes periods of slow delivery. We are very vested in timely delivery, whereas most other services are concerned about not being blocked as spam. Mailgun is consistently fast. PATHWIRE Y Hacker News nekoashide on Jan 31, 2020 "We went from a few thousand emails on Mailgun to almost 7 million emails across 140 domains and we have never encountered any reputation issues over the years we have used them." Will Lamerton @WillLamerton Props to @mjmlio for their amazing email framework - for any #Developers out there who need responsive emails this has been a wicked solution #Dev #Mjml 4:19 pm 20 Sep 2021-Twitter for iPhone 17#18Flexible pricing & packaging Flex Try us out! Get 5,000 free emails per month for 3 months, then only pay for what you send Pay As You Grow Start Sending ✓ Email APIs, SMTP Relay, and Webhooks ✔ Suppression Management ✓ Email Tracking and Analytics ✓99.99% Guaranteed Uptime SLA ✓ 5 Days of Log Retention ✓ Detailed Documentation ✓ Limited 24/7 Ticket Support Foundation Send, receive, and track your emails effortlessly STARTING AT $35/month 50,000 EMAILS INCLUDED Start Sending ✓ Email APIs, SMTP Relay, and Webhooks ✓ Suppression Management ✓ Inbound Email Routing ✓ Email Tracking and Analytics ✓99.99% Guaranteed Uptime SLA ✓ 1 Dedicated IP (Foundation 100k and up) ✓ Email Address Validations Growth Optimize sending with deliverability tools and enhanced support STARTING AT $80/month 100,000 EMAILS INCLUDED Start Sending ✓ Email APIs, SMTP Relay, and Webhooks ✔ Suppression Management ✓ Inbound Email Routing ✓ Email Tracking and Analytics ✓ 99.99% Guaranteed Uptime SLA ✓ 1 Dedicated IP ✓ 1,000 Email Address Validations @mailgun by PATHWIRE Scale Drive results with the most advanced sending platform, deliverability tools, and full support STARTING AT $90 /month 100,000 EMAILS INCLUDED Start Sending ✓ Email APIs, SMTP Relay, and Webhooks ✔ Suppression Management ✓ Inbound Email Routing ✓ Email Tracking and Analytics ✓99.99% Guaranteed Uptime SLA ✓ 1 Dedicated IP ✓ Dedicated IP Pools 18#19Track record of profitable growth SEK billion 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 Proforma gross profit and Adjusted EBITDA 2016 2017 2018 2019 Pathwire MessageMedia Inteliquent Other 2020 Q2 L12M Gross profit Adj EBITDA □Acquisitions Pathwire MessageMedia Inteliquent Other & synergies ● Focus on Gross profit since pass- through revenues vary between products and geographies ● Acquisitions adding significantly to our scale and profitability • Investing to increase growth in acquired units Pro forma L12M revenues of SEK 20.4 billion, gross profit of SEK 7.2 billion and Adjusted EBITDA of SEK 3.2 billion * The acquisitions of Inteliquent, MessageMedia and Pathwire are pending regulatory approval. "Other" captures unconsolidated earnings from ACL, SDI, Wavy, and MessengerPeople. 19#20Financial targets 2.0 1.5 1.0 0.5 0.0 Adjusted EBITDA per share, rolling 12 months Mar Jun Sep Dec Mar Jun Sep Dec| Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun 2017 2018 2019 2020 2021 Targets: Adjusted EBITDA per share to grow 20% per year ● ● Net debt <3.5x adjusted EBITDA over time Performance: • Adjusted EBITDA per share grew 38% in Q2 21, measured on a rolling 12 month basis ● Net debt/EBITDA of -9.6x, measured on a rolling 12 month basis 20#21Financial leverage 11 -8.8 -9.6 Pro forma net debt/Adjusted EBITDA Q2 21 reported -0.5 2.6 2.7 0.5 Q2 21 + Inteliquent + Message + Messenger + $750m pro forma People share issue Media The acquisitions of Inteliquent, MessageMedia, and Pathwire are pending regulatory approval. 2.7 + Pathwire ● Pro forma calculation includes last 12 months of Adj EBITDA for acquired entities ● • Updated financial target is to maintain Net debt < 3.5x adjusted EBITDA over time ● Pro forma Net debt/Adj EBITDA of 2.7x after payment for Inteliquent, MessageMedia, MessengerPeople and Pathwire 21#22Thank you! To get in touch, contact: Thomas Heath, Chief Strategy Officer & Head of Investor Relations Ola Elmeland, Investor Relations [email protected] sinch