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© 2026 Bango PLC | Bango.com 1H26 Results Paul Larbey, CEOMatt Wilson, CFO
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Agenda Paul LarbeyCEO Matt WilsonCFO 01Introduction and 1H26 highlights021H26 financial review03DVM opportunity04Q&A 2
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© 2026 Bango PLC | Bango.com Subscriptionssegment Bango overview Paymentssegment DCB and WalletsDigital Vending Machine® (DVM) The market leading platform for subscription bundling, which enables content providers to bundle their subscription products, in partnership with telcos and other consumer channels. 3 Enabling content providers to offer their users alternative payment methods, such as telco billing (Direct Carrier Billing - DCB) and digital wallets.
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© 2026 Bango PLC | Bango.com Bango technology brings together content providers with resellersEnd-to-end solution for sophisticated multi-product bundles and carrier-billed payments, with agentic capabilities TelcosBanksRetailers Content providers Connect once to Bango and join an ecosystem of over 130 subscription services and over 150 telcos JoinInstantly access a ready-made ecosystem of subscription partners.BundleCombine subscriptions across entertainment, AI, productivity, lifestyle and more into compelling offers.GrowScale across markets, partners and services on a single platform. 4
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© 2026 Bango PLC | Bango.com Platform and ecosystem scale create a unique, defensible and growing moat Established relationshipsPower global leaders including Google, Amazon & Microsoft Deep network effects Technical complexityDeep integration into Telco billing & identity services High barrier to entry Industrywide dataUnique insight & intelligence from analysis of millions of transactions across the industryPowerful data intelligencemoatDefensible market position Bango’s moat comes from its ecosystem, relationships and marketplace scale which are slow and complex to replicate 5
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© 2026 Bango PLC | Bango.com 1H26 highlights 6 Ecosystem continues to expand 119%Net revenue retentionGrowth model proven. Zero DVM churn. 31%ARR GrowthDriven by existing customer expansionProfitability accelerates 87%Gross margin improving with scalePayments revenue quality improves gross margin. 224%Subscriptions Adj. EBITDA growthPayments Adj. EBITDA grew as revenue quality improved. 23% / 31%Admin costs / CAPEX reductions over 2 yearsContinued focus on cost discipline. $3.7MCash EBITDA+$4.3M YoY+$1.4M in 6m vs all of FY25 6New DVM winsStrong FY25 momentum maintained. 100+Telcos in the pipelineEach with 4M+ customers. Non-Telcopipeline growing.
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© 2026 Bango PLC | Bango.com 1H26 Financial review Matt Wilson
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Higher-quality growth translating into operating leverage and cash Operating leverage increasingly evident - Group Adj EBITDA +34% YoY Increasing usage of the platform from existing customers with NRR 119% Cash EBITDA inflection - Cash EBITDA increased $4.3M YoY Strong ARR momentum continues at +31% growth YoY KPIs 1H261H25Growth YoYActive Subscriptions25.6M19.2M+33%Annual Recurring Revenue (ARR)$20.4M$15.6M+31%Net Revenue Retention (NRR) 119%108%n.a.Revenue $25.9M$25.2M+3%Gross Profit$22.6M$21.3M+6%Gross Margin %87%84%+310 bpsCore Administrative Expenses($18.9M)($22.3M)(15%)Adjusted EBITDA$9.0M$6.7M+34%Adjusted EBITDA Margin %35%27%+822 bpsCash EBITDA$3.7M$(0.7)M+$4.3MNet DebtJun 26$8.7M Dec 25$9.2M-$0.5M8 Clear progress in KPIs
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Subscriptions scaling rapidly towards standalone cash generation 1H26 segmental metrics 9 Payments remains highly cash generative and revenue quality continues to improve Subscriptions with Adj. EBITDA more than tripling (+224% YoY) 1H261H25Change RevenuePayments$13.6M$14.3M-5%Subscriptions$12.3M$10.9M+13%Total$25.9M$25.2M+3%Adj. EBITDAPayments$5.8M$5.7M+1%Subscriptions$3.2M$1.0M+224%Total$9.0M$6.7M+34%Cash EBITDAPayments$4.7M$4.6M+$0.1MSubscriptions$(1.0)M$(5.3)M+$4.3MTotal$3.7M$(0.7)M+$4.3M
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Existing customer expansion driving the majority of ARR growth+31% Growth 10 More customers scaling through DVM license tiers Zero churn of live DVM customers$15.6M$3.0M$1.8M$20.4M 30-June 2025 ARRGrowth from Existing CustomersGrowth from New Customers30-June 2026ARR- $5M $10M $15M $20M $25M
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Payments segment: quality of revenue enhancedPayments segment revenue bridge 11 Headline revenue driven by high-CoS route optimization Core routes +3% YoY; now 90% of Payments revenuePayments segment revenue mix $14.3M$0.3M$(1.2)M$0.1M$13.6M 1H25 Payments RevenueGrowth from Core RoutesReduction in High CoS RoutesMovement in One Off Revenue1H26 Payments Revenue-$2M$4M$6M$8M$10M$12M$14M$16M 83%90% 17%10% 0%20%40%60%80%100% 1H251H26 Core Routes High CoS Routes and One-Offs
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Subscriptions segment: Subscriptions-based revenue fueling growth 1.Subscription-based revenue is total Subscriptions segment revenue excluding one-off revenue +13% Growth Subscriptions segment revenue bridge 12 One-off DVM revenue lower due to timing of new business Subscription-based revenue¹ up 39% YoY Net Revenue Retention remains strong at 119% $10.9M $3.2M $(1.8)M$12.3M 1H25Subscriptions RevenueGrowth in Subscription-Based RevenueDecrease in One-Off Revenue1H26 Subscriptions Revenue-$2M$4M$6M$8M$10M$12M$14M$16M
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Lower operating cost and capital intensity driving stronger cash economics 13Core administrative expenses is administrative expenses before exceptional items, share based payment charge, capitalized R&D expenses and depreciation and amortization. Core administrative expenses23% reduction Capitalized development costs31% reduction $24.5M$(2.2)M$22.3M $(3.3)M$18.9M 1H24Reduction1H25 Reduction1H26-$5M$10M$15M$20M$25M$30M $7.7M$(0.3)M$7.3M $(2.0)M$5.3M 1H24Reduction1H25Reduction1H26-$1M$2M$3M$4M$5M$6M$7M$8M$9M
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com Net Debt movement 1.Other reflects exchange rate differences on cash held Net Debt Bridge 1H26 14 R&D remains the primary use of cashCash exceptional costs relate to FY25 initiativesNet debt reduction from Dec-25 to $8.7M as planned 9.2 (3.7) 1.40.20.70.80.28.7 Net Debt Opening (1 Jan)Cash EBITDACash Exceptionals(FY25)Change in Working CapitalLease PaymentsInterestTax paid / OtherNet Debt Closing (30 Jun) -$1M$2M$3M$4M$5M$6M$7M$8M$9M$10M $0.5M reduction
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© 2026 Bango PLC | Bango.com © 2026 Bango PLC | Bango.com 1H26 Income StatementAdj. EBITDA growth of +34% to $9.0M$ M 1H261H25Payments13.614.3Subscriptions12.310.9Revenue25.925.2% Growth+3%Gross Profit22.621.3% Margin87%84%Other Income0.00.4Core Administrative Expenses(18.9)(22.3)Capitalized R&D5.37.3Adjusted EBITDA9.06.7% Margin35%27%D&A (8.0)(6.8)Exceptional costs-(1.8)Share based payments(0.7)(1.1)Operating Profit / (Loss)0.3(2.9)Adj. EBIT1.0(0.1)Finance charges(1.2)(0.6)Adj. PBT(0.3)(0.7)Adj. PAT0.0(0.3)15 Other Income (related to DOCOMO Digital acquisition) reducing as expected D&A to peak in FY27 before reducing in line with capitalized R&D cycle Positive Operating Profit & Adj. PAT for the period Gross margin improved by 310bps Cleaner reporting period with zero exceptional costs. Higher finance charges reflect financing structure and lease-related costs from the head office relocation
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© 2026 Bango PLC | Bango.com 1H26 summary: Higher quality growth translating into stronger profitability and Cash EBITDA Deep network effects 16 Building a stronger financial modelOperating leverage coming through Improving revenue quality and visibility•310bps gross margin expansion •Lower cost base established; further benefit expected in 2H•High-CoS Payments route optimisation nearing completion •Cash EBITDA Margin now 14% (vs. negative LY) •ARR growth remains strong; expected to continue in 2H•Net revenue retention highlighting increasing adoption by existing customers•Increasing mix of recurring, higher quality revenue •Continued deleveraging•Subscriptions on track for positive Cash EBITDA next year•Payments and Subscriptions providing complementary earnings streams
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© 2026 Bango PLC | Bango.com DVM progress Paul Larbey
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© 2026 Bango PLC | Bango.com Powering choice and control for subscribers 18
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© 2026 Bango PLC | Bango.com Proximus: Consolidating multiple streaming options into one convenient destinationIn-house platform replaced to accelerate partner onboarding & support growth:•Launched - Increased available bundled SVOD options from existing partners and new tiered subscription offerings •Migrated - All existing bundled subscription SVOD services migrated to DVM. •Expanding - Further expansion planned, with new subscription services across an even broader range of content and offers 19 “By leveraging the Digital Vending Machine from Bango, we can more easily expand and enhance our subscription bundles….while bringing new content options to market faster and delivering even greater value to our customers.”Perrine Bichet, Entertainment Lead at Proximus •Largest Telco in Belgium•3+ million subscribers•Previously managed multiple direct integrations with individual SVOD providers through in-house platform
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© 2026 Bango PLC | Bango.com Turkcell: Supporting strategic 5G rollout through major multi-party subscription bundles•Launched extensive super bundles featuring both leading global and local streaming services bundled together as a convenient add-on to their bill•Enables Turkcell to attract and retain customers through premium bundled offers•Supporting Turkcell’s strategic 5G and next-generation digital infrastructure rollout across Türkiye 20 Turkcell is well positioned to capitalize on the growing demand for streaming, particularly as 5G adoption accelerates. Higher-speed connectivity and streaming services are a natural fit, enabling seamless content consumption on mobile devices while driving increased data usage. •Turkey's biggest mobile network operator with c.50M subscribers•Increasingly positioning itself as a broader technology and digital services business
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© 2026 Bango PLC | Bango.com LinkedIn: Quickly and easily expanding the reach of premium services•Broadening the reach of its Premium subscription through bundling partnerships with telcos, banks, retailers and more•“Build once, deploy many” approach important to LinkedIn’s bundling strategy•Further expands the range of non-entertainment services available through the DVM 21 “Partnering with Bango expands how and where we can deliver value, meeting professionals through the trusted services they already rely on every day.”Ora Levit, VP of Product at LinkedIn •Estimated 120 million global LinkedIn Premium subscribers•Brings in over $2 billion in annual revenue, making paid subscriptions one of the platform's fastest-growing sectors
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© 2026 Bango PLC | Bango.com KDDI: Turning pre-paid customers into engaged subscribers•Subscription bundles help povo2.0 move beyond the traditionally transactional pre-paid customer relationship •More ongoing value gives prepaid customers more reasons to engage, stay and build loyalty•Can easily optimize and scale their bundled subscription proposition over time, strengthening loyalty and ARPU 22 Bango…enables us to launch new subscription bundles rapidly and seamlessly, helping us expand our customer base while keeping our existing customers engaged for longer.”Tatsuya Hamada, CEO at KDDI Digital Life •KDDI is one of the largest telcos in Japan with over 70M subscribers•povo2.0 is a mobile service operated by KDDI •povo2.0 targets digital natives and Generation Z
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© 2026 Bango PLC | Bango.com Mobile Vikings: Deepening customer engagement and strengthening loyalty•Launched subscription hub for digital native audience•Subscribers receive monthly discounts on their Mobile Vikings bill for every active subscription•Brings subscriptions together in a single hub while tailoring their offering for different demographics 23 It’s what we do: making our customers’ digital life simpler, smarter and more rewarding. The Digital Vending Machine from Bango allows us to deliver on that promise at scale.”David Van Eynde, Managing Director at Mobile Vikings •Digital trailblazer in the Belgian telecom market•Targets younger, digitally savvy consumers•Positions streaming subscriptions as an alternative to traditional TV
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© 2026 Bango PLC | Bango.com Outlook 24 Subscriptions8 DVM wins •8 new DVM wins in FY26 YTD•6 contracted•Strong ARR growth continuing into H2•Revenue visibility and quality continuing to improve PaymentsRevenue quality improving •Route restructuring ahead of plan, expected to complete this year•Low-single-digit variation in reported revenue possible•Negligible Adjusted EBITDA impact ProfitabilityCash EBITDA improving•Subscriptions Cash EBITDA on track to turn positive in FY27•Payments Cash EBITDA stable•Continued improvement in Group Cash EBITDA Trading for the Group remains in-line with full year market expectations
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© 2026 Bango PLC | Bango.com Questions?
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© 2026 Bango PLC | Bango.com Keeping in touch Join our investor hub to receive automatic updates and ask questions bangoinvestor.com/auth/signup Follow Bango on LinkedInFollow Paul on LinkedIn linkedin.com/company/bangolinkedin.com/in/paullarbey Explore our customer marketing materials to discover valuable insights into the market and the exciting progress we're making, visit bango.com 26