#1Acquisition of Inteliquent 17 February 2021 Oscar Werner CEO Roshan Saldanha CFO Thomas Heath Chief Strategy Officer & Head of Investor Relations sinch#2SEK 6.6bn revenue in the past 12 months SEK 786m Adj. EBITDA in the past 12 months $ Customer engagement through mobile technology Scalable cloud communications platform for messaging, voice and video 100%) Consumer penetration SEK 96bn Market Cap Profitable since our foundation in 2008 血 O 1,792 47 countries with people local presence 120 billion engagements per year Publicly listed on NASDAQ in Stockholm Serving 8 of the 10 largest U.S. tech companies >650% growth in gross profit since IPO in 2015 Growing, global, multi-billion USD market sinch 2#3Global scale and leadership SEK million 6,000 5,000 4,000 3,000 2,000 1,000 0 2016 2017 Gross profit 2018 Inteliquent ACL SDI Wavy 2019 Q3 L12M Acquisitions Adj EBITDA Inteliquent Synergies ACL SDI Wavy ● ● ● JP Focus on Gross profit since passthrough revenues vary between geographies Acquisitions adding significantly to our scale and profitability Inteliquent adds 62% to full year gross profit and 78% to Adj EBITDA 3#4Adding voice & strengthening our US presence Share of total: Gross Profit, rolling 12 months* 191 Messaging 42% 132 Voice & Video * Pro forma as of Q3 2020, including Inteliquent 29% 131 Operators 29% Share of total: Europe 32% Headcount distribution* North America 30% Sinch Asia 25% Inteliquent JP Latin America 15% 4#5Playbook for profitable growth Software- as-a-Service Connectivity ● ● ● • Ensure leading direct global connectivity without middlemen Differentiate through superior quality, scale and reach Benefit from market growth and continue to win market share ● Empower businesses to leverage rich and conversational messaging Increase software value-add (CPaaS) in addition to our connectivity offering Increase stickiness with maintained scalability ● sinch LO 5#6Leveraging 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 Increased 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 sinch 6#7Strategic acquisitions Technology & Go To Market 2016 + Scale and profitability Sinch! Voice, video, verification 2017 mblox USA, Western Europe dialogue Australia, South East Asia XURA Germany, Central Europe 2018 + vehicle Personalized video unwire Nordics myElefant Rich messaging, Low code tools TWW Brazil Chatlayer.ai Conversational Al 2020 WAVY Innovation Next-generation messaging VUAVY SMS Latin America SAP SAP Digital Interconnect Americas, Europe, APAC 2021 JP inteliquent North America ACL India 7#8Deal rationale Inteliquent Deal rationale Integration Financials Largest independent voice communications provider in the United States 300+ billion voice minutes per year and 100+ million active phone numbers • Around 600 employees including contractors with headquarters in Chicago, Illinois ● ● • Establish Sinch as a leader in voice communications selling to the largest US voice customers Super network for voice reaching 94% of the US population without middlemen Accretive deal that fits Scale and Profitability category ● ● • Integration costs estimated to reach USD 25 million over 18 months • Cross- and upsell combined Sinch+Inteliquent product portfolio • Reinvest USD 15-20 million of EBITDA to accelerate joint roadmap in CPaaS voice, strengthen enterprise go to market and expand voice offering internationally ● ● ● ● Enterprise value of USD 1,140m. Closing is subject to regulatory approval, closing expected in H2 2021 Reported revenues of USD 533m, gross profit of USD 256m, and EBITDA of USD 135m in 2020 Revenues of USD 499m, GP of USD 233m and Adj EBITDA of USD 112m excl. temporary Covid uplift Underlying year-on-year revenue growth around 11% over the past 2 years driven by growth in CPaaS 8#9CPaaS driving demand for voice 4.3 1.8 2019 CPaaS revenues, 2019-24 (USDbn) 5.6 2.4 2020 Voice 7.5 3.2 2021 10.1 4.3 2022 Messaging Video Video 13.4 5.6 2023 Other Source: IDC Worldwide Communications-Platform-as-a-Service Forecast 2020-2024 17.7 7.4 2024 ● ● ● CPaaS voice expected grow with a 33% CAGR in 2019-24 Growth driven by continued digital transformation and increased use of API-based voice products Increased convergence of voice and messaging 9#10The Gartner CPaaS stack Programs Customer Success Plans Vertical Compliances Developer Blogs, Certifications and Events Contact Center SMS Voice Internal Marketplace loT SIM Unified Communications Web Chat Authentication Anonymization Notification IVR Layers L5: Marketplace SIP Trunks L4: Complete Solutions Source: Gartner Market Guide for CPaaS, October 2020 Remote Learning L3: Modules/Wrappers Layer CRM L2: Cloud Communications API Apple RCS Business WhatsApp Email Video 2FA Al Bots Chat L1: Networking Layer Inteliquent Partner Marketplace Omni- Emergency channel services Phone Numbers Telemedicine Payments Short and Long Codes Connected Home Security (Biometrics) lo T PCI Network Interconnect Tools Visual Builders SDKs and IDE Analytics Provisioning Monitoring Billing Focus on Gartner levels 1-3 Differentiate by quality Secure profitability through superior scale sinch 10#11America's leading Super Network for Voice HON SF LA O SEA POR LSV 100 GIG WAVE 30 GIG WAVE DAL 20 GIG WAVE 10 GIG & 1 GIG WAVES CHI DET ATL ΜΙΑ BOS NYC PR ● ● 100+ million phone numbers powered by our network 300+ billion minutes of use on our network annually 37% greater local number coverage than other providers 99.999% uptime backed by 43 geo-redundant points of presence across the U.S. Q inteliquent 11#12Serving the category leaders in every sector ● ● Top 5 Collaboration Companies Top 5 Communications Platform Companies • 10 of Top 12 VoIP Companies Top 5 Wireless Carriers Top 5 Cable Companies Top 5 Wireline Companies O inteliquent 12#13An (312) 555-1468 Chicago, IL (214) 555-6564 Dallas, TX (408) 555-1497 San Jose, CA (206) 555-1497 Seattle WA LOCAL MESSAGING CNAM DIRECTORY O CPaaS Full service provider of inbound and outbound voice calling Unrivalled access to local phone numbers across the US API-based delivery model 52 percent of L12m Gross Profit ● ● Outbound Call Inbound Call laaS Strategic relationships with major wireless carriers IP-based voice interconnection for off-net call termination Outbound traffic routing to toll- free numbers (8YY) 48 percent of L12m Gross Profit 13#14Financial leverage -1.2 Q3 20 reported Pro forma net debt/Adjusted EBITDA -1.2 + TWW, my Elefant, Chatlayer, ACL 1.4 + SDI The acquisition of Inteliquent is pending regulatory approval. -1.9 + Share issue -1.3 3.7 + Wavy + Inteliquent ● ● ● Pro forma calculation includes last 12 months of Adj EBITDA for acquired entities Financial target is to maintain Net debt < 2.5x adjusted EBITDA over time Pro forma Net debt/Adj EBITDA of 3.7x to decline ahead of closing with cash generation and earnings growth Financing agreed with lending banks, total debt commitments of SEK 9.7 bn 14#15Financial targets 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 0.0 Adjusted EBITDA per share, rolling 12 months Il Mar Jun Sep Dec |Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep 2020 2016 2017 2018 2019 Targets: Adjusted EBITDA per share to grow 20% per year ● Net debt < 2.5x adjusted EBITDA over time Performance: Adjusted EBITDA per share grew 51% in Q3 20, measured on a rolling 12 month basis ● Net debt/EBITDA of -1.2x, measured on a rolling 12 month basis (see previous slide) 15#16Thanks!