Zaplox : Q2 Interim Report 2022*

Q2

INTERIM REPORT

JANUARY - JUNE, 2022

Cover photo: Choctaw Casino & Resort Durant, OK, USA

Zaplox enters new markets in Europe and continues to strengthen its position in the American casino segment.

Second quarter for the group (2022-04-01 till 2022-06-30)

• Net sales amounted to 1 225 (879) KSEK.
• Result after financial income and expense amounted to -8 408 (-10 711) KSEK.
• Earnings per share* amounted to -0,02(-0,06) SEK.
• Cash flow from ongoing operations amounted to -7 745 (-9 208) KSEK.
• Cash and cash equivalents amounted to 26 069 (14 291) KSEK at the end of the period.
• Solidity** equaled to 73 (59) %.

First half of the year for the group (2022-01-01 till 2022-06-30)

• Net sales amounted to 2 193 (1 450) KSEK.
• Result after financial income and expense amounted to -16 017 (-19 494) KSEK.
• Earnings per share* amounted to -0,04(-0,11) SEK.

• Earnings per share: Profit for the period divided by the average number of shares ** Solidity: Equity divided by total capital

Cumulative growth of contracted and revenue generating doors (2019-2022)

	Contracted doors		Revenue generating doors

+40% growth in contracted doors at the end of Q2 2022 (57 091) compared to the end of Q2 2021 (40 911).

+78% growth in revenue generating doors at the end of Q2 2022 (24 077) compared to the end of Q2 2021 (13 507).

1

Events during the second quarter of the year

Zaplox's collaboration with Aristocrat Technologies and Agilysys results in an agreement with Boyd Gaming Corporation, one of America's leading casino operators

Boyd Gaming Corporation, one of the leading casino operators in the U.S. with approximately 28 casinos and 11 000 rooms in the U.S., selects Zaplox mobile keys for integration with the Aristocrat gaming app and Agilysys PMS. The Gold Coast Hotel & Casino in Las Vegas with 711 rooms is the first hotel in the group to go live. After the end of the second quarter, additional orders from Boyd Gaming have been placed for Valley Forge Casino & Resort, Par-a-Dice Hotel & Casino, Fremont Hotel & Casino and Ameristar Casino St Charles with a total of

1 457 doors, adding up to five hotels and 2 168 doors in total.

PREM Group selects Zaplox mobile guest journey for 25 hotels in Europe

In April, Zaplox signed an agreement with PREM Group, a leading hotel and serviced apartment company, headquartered in Ireland. The agreement includes Zaplox mobile guest journey for 25 of PREM Group's hotels located in the UK, Ireland, Belgium, and the Netherlands, with a total of 1 602 rooms. The collaboration with PREM Group is a result of Zaplox's strategic focus on growing the company's presence in Europe, expanding Zaplox

into two new markets; Ireland and Belgium. Premier Suites Rotterdam in the Netherlands and Premier Suites Sandyford in Ireland are the first hotels to go live with PREM Group's new guest app.

Zaplox introduces mobile key app for web check-in at HITEC in the U.S.

Hotels offering web-basedcheck-in to their guests can now provide the convenience of mobile keys with no need for guests to stop at the front desk. At HITEC in Orlando, Zaplox introduced a new mobile key app, which was first installed at Google Bay View Suites at Bay View Campus in Silicon Valley and Myrtle Beach Seaside Resorts. The new key app integrates with the hotel's web-based online check-in system and seamlessly delivers a mobile key to the guest's mobile phone when the check-in is completed. The app can be integrated with most property management systems (PMS) that offer online check-in.

Positive guest response and roll out of new customer agreements

Hotel Tylösand in Halmstad launched its guest app during the second quarter, as did Turtle Bay Resort in Hawaii and Grand Life Hotels with SOHO Grand Hotel and Roxy Hotel in New York. In Maastricht, the Netherlands, Vaeshartelt Castle, built in 1739, went live with Zaplox Kiosk. For this property, Zaplox's new integration to

Premier Suites Plus Rotterdam, the Netherlands

Oracle's cloud platform OHIP and lock integration to ASSA ABLOY's cloud-based access management platform, Vostio, is utilized. This is the first installation that combines both platforms, and as Oracle and ASSA ABLOY are both market leaders, it is expected that more hotels will choose the same solution in the future. In Florida, Guy Harvey Resort's guest app, launched in the first quarter, has already generated a very positive response from resort guests. The hotel's objective to receive 10 percent direct bookings via the guest app, is expected to be met and an expansion of the digital guest journey is already discussed.

Zaplox rights issue subscribed to 100 percent

On April 1, an extra shareholder's meeting was held by Zaplox. In this meeting, it was decided to increase the company's share capital by a rights issue by a maximum of SEK 17 170 069,14 through a new share issue of a maximum of 286 167 819 shares. In this shareholder's meeting it was also decided to carry out a directed issue of a maximum of 5 850 000 warrants, which were fully subscribed by the company's newly appointed CEO Tess Mattisson. The rights issue, which ended on April 25, 2022, was 100 percent subscribed, of which approximately 67,3 percent was subscribed with the support of subscription rights and approximately 1,3 percent without the support of subscription rights. The issue guarantors were thereby allocated approximately 31,5 percent of the rights issue.

Vaeshartelt Castle, Maastricht, the Netherlands

Premier Suites Sandyford, Dublin, Ireland

CEO COMMENTS

Finally, the hotel industry is regaining confidence in the future

Tess

Mattisson

CEO, Zaplox

At the time of writing this report, the long-awaited peak season in the hotel industry has finally arrived, and with that many excited travelers, and the hotels are working hard to deliver exceptional service while maximizing profitability. When looking at the trends during the past quarter, the outlook is positive to say the least and the recovery is in full swing. Several hotel markets are already back at or ahead of 2019 occupancy level and in some cases the average room rate is back at the 2019 level as well.

Hotels dare to broaden their planning horizon

When Zaplox exhibited at HITEC, the world's largest hospitality technology conference and unofficial "get-together", it was clear that the hotel industry now has a positive view of the future. This year's conference was held in Orlando in June, and as always, HITEC was a wonderful mix of inspiring companies and exciting innovations - with a common passion for digital development and the guest experience.

After a long and challenging time, it was very inspiring to finally meet with our partners and plan for the exciting future that is ahead of us. The faith in the future is once again strong and the planning horizon, which since the beginning of the pandemic, often only extended over months or quarters, now includes the entire year of 2023.

4	INTERIM REPORT JANUARY-JUNE 2022

Zaplox is growing - Ireland and Belgium new markets in Europe

It is gratifying to see that our commercial efforts continue to generate results. The number of contracted doors during the second quarter shows strong growth and we continue to deliver according to plan. Through the agreement with the hotel operator PREM Group, Zaplox has further expanded its presence in Europe by entering two new markets - Ireland and Belgium.

As previously communicated, Zaplox's installations are affected by the current market situation, which continues to delay the deployment of income- generating doors. This is of course not a desired situation, but we are planning several targeted efforts, including both internal improvements and initiatives together with our partners - all with the goal to speed up the installation process as much as possible.

Despite not achieving our ambitiously set goal for the number of installed doors for the second quarter, our installation rate has increased significantly. We installed a whopping 372 percent more doors in the first half of 2022 compared to the same period last year. In comparison with 2019, which was not affected by the pandemic, the corresponding number is 311 percent. Considering this, I am very proud of the Zaplox team and how we have worked closely with our partners to make it easier for our hotel customers to go live with Zaplox digital services.