ࡱ; XU  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTWYRoot Entry  \pCalc Ba=  =@ 8X@"1Calibri1Arial1Arial1Arial1Calibri1Calibri General #,##0.003._(\$* #,##0_);_(\$* \(#,##0\);_(\$* \-_);_(@_);6_(\$* #,##0.00_);_(\$* \(#,##0.00\);_(\$* \-??_);_(@_) #,##0\(#,##0_);[RED]\(#,##0\)!"($"#,##0_);[RED]"($"#,##0\)                + ) , *   (      ( *8 " "0   "8 #4 # # #0 #4 ( # # #4 ` exhibit index" signature"%third quarter and nine monx3business outlook!6consolidated statement of$rFconsolidated statement of -1$Lconsolidated statement of -2$Yconsolidated statement of -3$ cconsolidated statement of -4$lconsolidated statement of -5}revenue"~sharebased compensation ex Fother operating expenses"Ҏin thousands except per sh$Ԗin thousands except per sh-1$Pin thousands except per sh-2T@     3  @@   EXHIBIT INDEX Exhibit No. DescriptionPress release dated October 29, 2025, titled  Opera Reports Third Quarter 2025 Results Ahead of Expectations, Raises Full-Year Guidance Ranges for Both Revenue and Adjusted EBITDA SIGNATURE Opera LimitedDate: October 29, 2025By: /s/ Lin SongName:Lin SongTitle:Chief Executive Officer7Third Quarter and Nine Months 2025 Financial Highlights#Three Months Ended September 30,"Nine Months Ended September 30,6In thousands, except percentages and per share amounts20242025% ChangeRevenue23%31% Net income4%1%Net income margin15%12%16%Adjusted net income (1)17%22%Adjusted net income margin19%18%Adjusted EBITDA (1)Adjusted EBITDA margin25%24%Diluted earnings per share2%(0)%(Adjusted diluted earnings per share (1)20%'Net cash flow from operating activities(18)%(7)% As percentage of adjusted EBITDA113%78%101%77%#Free cash flow from operations (1)(29)%21%97%59%63%62%Business Outlook/Fourth Quarter 2025 Guidance $162  165 million*Full-Year 2025 Guidance $600  603 million"Year-over-year revenue growth (1)Adjusted EBITDA (2)$37.5  40.5 million$138  141 millionAdjusted EBITDA margin (1)$Consolidated Statement of OperationsOther operating incomeOperating expenses:Technology and platform fees Content costCost of inventory sold5Personnel expenses excluding share-based compensation!Share-based compensation expenses#Marketing and distribution expensesCredit loss expenseDepreciation and amortization"Impairment of non-financial assetsOther operating expensesTotal operating expensesOperating profit/Share of net loss of equity-accounted investees Net finance income (expense):Finance incomeFinance expense Net foreign exchange gain (loss)Net finance income (expense)Income before income taxesIncome tax expense-Net income attributable to Opera shareholdersEarnings per share:BasicDiluted.Weighted-average number of shares outstanding:.Consolidated Statement of Comprehensive Income"Other comprehensive income (loss):>Items that may be reclassified to the Statement of Operations:9Exchange differences on translation of foreign operations!Other comprehensive income (loss)=Total comprehensive income attributable to Opera shareholders,Consolidated Statement of Financial PositionAs of December 31,As of September 30,Assets:Property and equipmentGoodwillIntangible assetsInvestment in OPayEquity-accounted investments2Other non-current investments and financial assetsDeferred tax assetsTotal non-current assetsTrade receivablesOther current receivablesCash and cash equivalentsOther current assetsTotal current assets Total assetsEquity: Share capitalAdditional paid-in capitalTreasury sharesRetained earnings$Foreign currency translation reserve/Total equity attributable to Opera shareholders Liabilities:Non-current lease liabilitiesDeferred tax liabilitiesOther non-current liabilitiesTotal non-current liabilitiesTrade and other payablesCurrent lease liabilitiesIncome tax payableDeferred revenueOther current liabilitiesTotal current liabilitiesTotal liabilitiesTotal equity and liabilities+Consolidated Statement of Changes in EquityNumber of shares outstandingAs of January 1, 2024Other comprehensive income!Cost of equity awards, net of tax1Issuance of shares upon exercise of equity awards DividendsAs of September 30, 2024As of January 1, 2025As of September 30, 2025$Consolidated Statement of Cash Flows%Cash flows from operating activities:_Adjustments to reconcile income before income taxes to net cash flow from operating activities:Net finance (income) expenseCost of equity awardsOther adjustmentsChanges in working capital:Trade and other receivablesOther liabilitiesIncome taxes paid%Cash flows from investing activities:Purchase of equipmentDevelopment expenditureInvestment in an associateSale of long-term investmentsInterest received*Net cash flow used in investing activities%Cash flows from financing activities:Dividends paidPayment of lease liabilities Interest paid*Net cash flow used in financing activities'Net change in cash and cash equivalents0Cash and cash equivalents at beginning of period<Effect of exchange rate changes on cash and cash equivalents*Cash and cash equivalents at end of period AdvertisingQuery&Technology licensing and other revenue Total revenue!Share-based Compensation ExpensesCost of Opera-granted awards"Cost of parent-granted awards (1)Total cost of equity awards6Social security contributions for Opera-granted awards'Total share-based compensation expensesOther Operating ExpensesHosting(Audit, legal and other advisory servicesSoftware license feesRent and other office expensesTravelOtherTotal other operating expenses3(In thousands, except per share amounts, unaudited) Add (deduct):*Amortization of acquired intangible assets Income tax effect on adjustmentsAdjusted net income5Diluted weighted-average number of shares outstanding#Adjusted diluted earnings per shareAdjusted EBITDADeduct:Free cash flow from operations cc   d-C6?_%,*+&gfffff?'gfffff?(?)?" d,, `? `?U} } } d} ,,,   ~ ۚ  PH0(  >@<dgg   d-C6?_%,*+&gfffff?'gfffff?(?)?" d,, `? `?U} } } } ,,,,,          PH 0(  >@<dgg   d-C6?_%,*+&gfffff?'gfffff?(?)?" d,, `? `?U} 6} } } } }  } } } } } } } } ,@,,,,, , 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