Anders Lidbeck, President & CEO

April 28, 2015

Agenda

Enea Intro

Enea Financials Q115

Way Forward & Outlook

Powering the Wireless Broadband

Numbers for 2014

REVENUE

429MSEK

NO. OF

EMPLOYEES

399

HEAD

QUARTER

KISTA,

SWEDEN

LISTED

STOCKHOLM,

NASDAQ OMX

R&D OPEX

INVESTMENT

20.5PERCENT

OPERATING

PROFIT

21.9PERCENT

Our Business

Software Products for embedded applications

in general and communication solutions in

particular

Real-time operating systems

Linux operating system (open source)

Middleware (what’s between the operating

system and the application)

Tools, protocols, etc.

Training

Related to our own products

Related to Linux in general

Customer specific

Stand-alone Embedded Software Services

In-house projects

On-site project

Bridged Services

Maintenance, Support, and Services

Related to our own product portfolio

For integrated solutions, incl. 3rd party

solutions

Leading Customers

Powering the Wireless Broadband

More than 3 billion people rely on Enea software every day, to connect a call or use their mobile phone to get online

More than 75% of the LTE population coverage is through infrastructure powered by Enea OS Solutions (2012).

Enea OS Solutions run in more than half of the world’s 8.2M radio base stations (2012).

Q1 2015Financials

Record Q1 EBIT & Operating Margin

Q115 Q114

EBIT (MSEK) 23.3 18.0

Operating margin (%) 19.9 17.8

Earnings per share (SEK) 1.19 0.88

FY14

EBIT (MSEK): 93.8

Operating margin (%) 21.9

Earnings per share (SEK) 4.58

30 % EBIT y-o-y growth

35 % EPS y-o-y growth

Best Q1 Operating Profit and Operating Margin ever

8th consecutive quarter of y-o-y EBIT growth

14th consecutive quarter of y-o-y EBIT margin expansion

Record Q1 Revenue Growth

Q115 Q114

Revenue (MSEK) 117.4 101.0

Revenue growth (%) 16 2

Revenue growth (%) (currency adjusted) 8 2

FY14

Revenue (MSEK): 429.3

Revenue growth (%) 5

Revenue growth (%) (currency adjusted) 3

3rd consecutive quarter of Y/Y revenue growth

Best quarter revenue growth in 27 Q’s (Q208)

Double digit growth in both SW and Services

Strong Growth in Worldwide Sales

Revenues from both Key Accounts and Worldwide Software Sales increased, compared with the same quarter last year.

But Worldwide Sales is growing faster than Key Accounts – with 11 wins including the biggest Linux deal to date –and is increasing its percent of total.

Also Global Services is growing faster than total and increasing its percentage of total.

Given that our license business model change is almost complete – from

perpetual to term based contracts - our revenues will be sorted by

business units from Q115.

Perpetual development licenses will be reported together with time-based

development licenses, including support and maintenance, in the new

category of ‘Development licenses including support and maintenance’.

Revenue Split per Region

EuropeEuropean sales showed a strong increase compared with the same quarter last year – both in SW and Services.

AmericasDuring the quarter, total sales in America increased, compared with the previous year. SW sales showed strong double digit growth – including the biggest Linux deal to date – while the increase in Services revenues was due to strengthening of the US dollar.

AsiaIn Asia, SW revenues were down compared with the same period the previous year due to large contract signed Q114.

Revenue Split per Product

During the quarter, sales from Operating systems including tools increased somewhat, compared with the same quarter last year. Biggest Linux deal to date ($Multi-00k 3-year term contract) signed in the quarter.

Middleware grew compared with the same quarter last year and increased its percent of the total.

Services grew both sequentially and y-o-y and its percent of total.

As of the first quarter of 2015, product-related services are recognized in

the groups Operating systems including tools and Middleware. Only Enea’s Global Services are thereby found in the group Global Services.

Double Digit Growth in Services Revenues

Global Services showed double-digit revenue growth for the fourth consecutive quarter – and both sequential growth as well as y-o-y growth.

Sales grew particularly strongly in Europe. Strong sales growth also in the US operations but that is mainly due to positive impact by the strengthened US dollar.

Four significant time & material contracts signed in the quarter with one contract worth more than $1M.

7 % revenue growth over Q114 adjusted for currency table gross margin.

48 % contribution growth over Q114 adjusted for currency.

Strong Financial Position

Q115 cash flow from operations 13.6 (23.0) MSEK.

Cash, cash equivalents and financial investments at the end of the quarter were 222.5 (191.9) MSEK.

Enea has no debt and unused credits of 15 MSEK.

The equity ratio was 77.8 (80.4) %.

The Board is proposing 3.60 (3.00) SEK per share in dividend, equivalent to a transfer amounting to 57.9 (49.1) MSEK, in the form of an automatic redemption program.

Way Forward & Outlook

Significant Investment in R&D

We continue to invest heavily in R&D – Q115 19.7 %.

We focus on the communication systems and expertise – and the ARM ecosystem.

Networks are being reshaped – today people are talking about virtualization of network functions (NFV) or entire networks (SDN). It is all pieces of a larger virtualization trend.

Important alliances and open source initiatives are being formed.

Enea’s Engagement in Open Source

Embedded OS Play a Central Role

Almost all embedded solutions today need

an operating system

To manage the system

cf. Windows on a normal PC

Enea has been very success as an embedded

operating system vendor for 3 decades

Close to 2Bn devices today run an

operating system from Enea

More than half of the worlds base stations

If you want to sell more on top, an operating

systems at the bottom is a good start

Application and middleware

Services, training, etc.

Real-Time Operating Systems

The Enea OSE family (OSE5 and OSEck)

For demanding applications with timing requirements

For critical systems

Enea Linux

Open source based

General embedded applications

Together with the community

Different... or the same?RTOS

(Proprietary Software)

Linux(Open Source)

How is it done?

Developing the core software components Enea Community

Adapting the software to hardware or use-case Enea Enea

Stabilizing and testing Enea Enea

Maintenance (updates) Enea Enea

Support Enea Enea

How do we charge for it?

NRE Yes Yes

License (e.g. royalty) Yes Open Source

Maintenance Fee Yes Yes

Support Fee Yes Yes

Services and Training Yes Yes

Long Term Ambition

Enea’s ambition during five years, starting 2012, is to create a global software company with a large proportion of recurring revenues.

Enea will be focusing on organic growth, but both strategic and supplementary acquisitions will be evaluated regularly.

Our objective during this five year period is to achieve an operating margin of 20 percent.

Market Outlook

Outlook 2015

Our objective full year 2015 is to achieve revenue growth and our assessment is that earnings per share will improve compared with 2014.

Thank You!F o r a d d i t i o n a l i n f o r m a t i o n o n E n e a , p l e a s e c o n t a c t :

A n d e r s L i d b e c k , P r e s i d e n t & C E O

a n d e r s . l i d b e c k @ e n e a . c o m

H å k a n R i p p e , C F O

h a k a n . r i p p e @ e n e a . c o m

S o f i e S a r h e d , I n v e s t o r R e l a t i o n s

s o f i e . s a r h e d @ e n e a . c o m

P h o n e : + 4 6 8 5 0 7 1 4 0 0 0