High-touch human service. Technology. Global leadership.

2025 was another year of balanced quality growth. We continued to combine our high-touch human service with technology. By the end of the year, we were the global leader in our industry, serving close to 6.2 million customers. We entered Mexico, our 18th country. It was also the year we returned to public markets with our successful listing on Nasdaq Stockholm.

At Verisure, we have a mission. To bring peace of mind to the families and small businesses we serve.

This is a major opportunity in Europe and Latin America, as penetration of professionally monitored security is still low (4% compared to 24% in the USA). And, we have a proven Verisure playbook to grow penetration. We are the ‘market makers’ with a long track record of uninterrupted growth in our portfolio, revenues and profitability. Verisure is a technology-enabled, human services company. A winning combination of talent and leading-edge technology.

Growing penetration of our technology-enabled, high-touch human services

Growing penetration means bringing our technology-enabled, high-touch human services to more families and small businesses.

Our success is driven by a proven Verisure playbook:

• - Innovation and technology delivering superior and differentiated solutions.
• - Category-creating marketing.
• - Go-To-Market excellence.
• - Superior customer experience combining a high-touch human service with technology.

Continued growth and market leadership

In 2025, our customer portfolio grew +10.0%. We ended the year protecting close to 6.2 million families and small businesses, making us the global leader in our industry by customers served. During the year, our organic sales engine added close to 873,000 new installations. This was up +3.9% and another record. This was also the highest volume of new installations in the industry worldwide. I am proud of how our marketing and sales teams delivered this growth.

We have built #1 brand positions, with strong awareness and consideration, combined with our field sales force of more than 12,500 security experts.

Over the past 5 years, Verisure has taken over two-thirds of the net category growth in our footprint. In 2025, we entered Mexico with the acquisition of the local leader. We lead our industry globally by portfolio size and are also #1 in 14 of our 18 markets. We estimate that we are more than 6 times larger than the next biggest competitor across our footprint.

We aim for balanced, high-quality long-term growth. Our business is not just about installation volumes. With discipline, we want to grow penetration while maintaining high customer quality and attractive unit economics. Our business delivered well against those factors again this year. In 2025, our revenue grew +9.9% to €3,745 million. Annualised Recurring Revenue grew +12.4% to €3,448 million, with approximately 2 percentage points of growth attributable to our acquisition in Mexico. Adjusted EBIT increased +16.3% to €953 million, and the Adjusted EBIT margin reached +25.4%.

Innovation as a competitive advantage

Our innovation and technology programme is largely vertically integrated, as we design for superior and differentiated propositions. We have more than 1,800 people in our technology team. In particular, we believe in the power of product and service innovation to expand the addressable market, stimulate demand, delight customers, support premium pricing and reduce operating costs. Importantly, the technology enables a valued, important, high-touch human service.

In 2025, we continued to deliver innovation progress. We launched AI-enabled GuardVision™ Outdoor cameras across France, Spain, Portugal, Italy and Chile. We significantly improved App performance. We continued the European rollout of our leading-edge WiFi Vision™ solution. We saw continued adoption of LockGuard™, now securing more than 208k doors. Our innovation also continues to be recognised externally. We earned multiple international design and consumer awards, including our eighth Red Dot Design Award in five years, as well as Product of the Year and Customer Service of the Year in several countries.

Customer experience and loyalty

Customer loyalty is key. It begins with a high-quality intake from a counselled sale where the customer makes an informed decision. And it is underpinned by a focus on service quality throughout the customer’s lifetime with Verisure (about 15 years on average), enabling a superior experience. These are high-touch human interactions. Loyal customers often become our ambassadors, leading to valuable referrals to family and friends. In 2025, our portfolio attrition was 7.4%. This remains best-in-class in our industry and very low compared to other consumer subscription-type businesses. Our teams continue to work hard on customer experience, innovation to increase usage, and retention best practices. We increasingly leverage AI to improve service analytics and next-best-action decisions.

ESG progress and real-world human impact

We are proud of our continued progress on ESG. Our focus is on our customers, our people and our communities. So, the social aspect of our ESG strategy carries most weight. Our Sustainability efforts are also described comprehensively in the body of the report. In February 2026, for the third successive year, we have earned recognition from Morningstar Sustainalytics for Verisure Group (Midholding AB) as a global, regional, and industry ESG leader¹.

We also ended 2025 with our teams more engaged than ever. We had record participation (>90%) in our 2025 Sustainable Engagement Survey with the Sustainable Engagement Index at over 85 for the 4th successive year (versus our target of 80). Verisure was recognised as an outstanding employer across all 18 countries, earning distinctions such as Great Place to Work™, Top Employer®, and a place on the FT’ Europe’s Best Employers 2025 list. This reflects our commitment to a supportive and inspiring environment for our more than 30,000 colleagues. We describe Verisure as a technology-enabled, human services company. Again, the winning combination of talent and leading-edge technology.

This is at the core of how we deliver our mission every day: providing peace of mind to millions of customers. Standing by them in the moments that matter most. And this mission has a real-world impact. In 2025 alone, Verisure teams supported customers through more than 417,000 incidents requiring on-site assistance. These interventions are part of the difference we make every day.

Our listing on Nasdaq Stockholm

2025 was also the year when Verisure returned to public markets with a successful IPO on Nasdaq Stockholm. This was a ‘return’ given our origins in Sweden in 1988 and our earlier listing in Stockholm between 2006 and 2008. We appreciated the strong support from both international and Swedish investors during the IPO. In the months following the IPO, Verisure was included in the MSCI, STOXX Europe 600 Index, OMX Stockholm All-Share Cap Index and the FTSE All-World Index. As a public company, we now have a broader shareholder base to whom we have a deep sense of accountability. We are committed to delivering balanced, high-quality long-term growth, with discipline and transparency, to the benefit of our shareholders, our customers, our employees, and our broader societal stakeholders.

Shareholder perspective and outlook

As CEO, I recognise that the VSURE share price since listing has unfortunately not reflected the strength of our operational delivery. That is obviously disappointing for our shareholders and for the Company. We stay focused on quality execution and delivery as well as clear and effective communication. These priorities are fully shared by our Board and by our Executive team. I am looking forward to welcoming our shareholders at our AGM in Stockholm on 23 April 2026. We will review results, share perspectives on our future plans, and answer questions.

Looking ahead, along with our Executive team, I am confident about the future. Our category remains under-penetrated, and our prospects are strong. We have a long track record of delivering continued profitable growth. We serve a fundamental human need. Our customers deeply value the service we provide. Our unit economics are attractive. And our proven playbook continues to deliver.

Thank you for your continued support.

Austin Lally

Chief Executive Officer

Geneva, March 2026

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