LINK Mobility (LINK) - Update on growth and cost reduction initiatives

Reference is made to LINK's Q2 2022 reporting in August, where an enhanced focus on current gross profit growth and cash generation was highlighted. LINK is recalibrating more resources to current market growth opportunities by prioritizing mature products and selected CPaaS solutions with proven market demand.

LINK has made detailed plans for substantial Opex and Capex reductions:

Opex will be reduced compared to the current cost base by NOK 9 million this year and by a further NOK 48 million next year.

Capex spend will be reduced by NOK 4 million through 2022 and by an additional NOK 31 million in 2023, compared to a previous forecasted capex level of NOK 180 million.

The above Opex and Capex initiatives will support adjusted EBITDA growth and continued strong free cash flow generation, materially deleveraging the group. Run rate total annual cash saving is NOK 89 million in Q4 2023.

LINK reiterates its 2022 forward-looking statement for an organic revenue growth range of 8-12%, with organic gross profit growth its main priority.

For further information, please contact

Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com

About LINK Mobility

LINK is an award-winning, leading global provider of mobile messaging and communications platform as a service (CPaaS) solutions for increased engagement. The company serves enterprise, SME, and government customers. LINK offers a wide range of innovative and scalable mobile solutions, creating valuable digital convergence between businesses and customers, governments and citizens, platforms and users. LINK has 47,700 customer accounts globally and exchanges 15 billion messages a year. LINK is listed on the Oslo Stock Exchange under the ticker LINK. For more information about LINK, please see www.linkmobility.com and follow LINK Mobility on LinkedIn

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act