January-March 2006 Interim Report. Ilkka Hiidenheimo. April 28, Copyright 2006 Stonesoft Corp. All rights reserved.

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1 January-March 2006 Interim Report Ilkka Hiidenheimo April 28, 2006 Slide 1

2 Stonesoft Corporation Information on this presentation contains forward-looking statements based on current expectations that involve a number of risks and uncertainties The content of the presentation is only a summary of the company's performance The company makes no representation or warranty as to the continued accuracy, content or reliability of this data and states no obligation to update the data included in this presentation, as operational changes may occur over time The content of this presentation is copyright of Stonesoft Corporation All rights reserved. Reproduction, transfer, distribution or storage of part or all of the contents in any form without prior written permission of the company is prohibited Slide 2

states no obligation to update the data included in this presentation, as operational changes may occur over time The content of this presentation is copyright of Stonesoft Corporation

3 Results for January-March 2006 StoneGate product sales were EUR 2,1 millions, an increase of +12% compared to 2005 The net sales of the core business, network security products and services grew by 4% Company net sales EUR 5,5 millions, a decrease of 1% compared to 2005 Operating loss (EBITA) of EUR 1.3 millions, on same level as in 2005 Slide 3

products and services grew by 4% Company net sales EUR 5,5 millions, a decrease of 1%

4 Q1/2006 Financials Slide 4

5 Q1/03 Q2/03 Q4/03 Q4/05 Slide StoneGate Sales by Quarter StoneGate Q4/02 Q3/02 Q2/02 Q1/02 K euros

6 Q4/05 Slide Sales by Product Q4/03 Sgate+Sbeat Services Embe Other products Q2/03 Q1/03 K euros

7 Q4/05 Slide Net Sales by Area EMEA AMER APAC Q4/03 Q2/03 Q1/03 K euros

8 Operating Costs by Quarter Q1/Q4 IFRS K euros Q1/03 Q2/03 Q4/03 Q4/05 Personnel expenses Depreciations Other operating income/expenses Restructuring Slide 8

9 EBITA by Quarter Q1/Q4 IFRS % 0 0 % % % % % Q1/03 Q2/03 Q4/03 Q4/05 EBITA per Q % of Net Sales Slide 9

10 Q4/03 Q4/ Slide 10 Personnel at the End of Quarter Q2/03 Q1/03

11 R&D Expenses ( IFRS) % % % % % % % % % % % % 0 0 % Q1/03 Q2/03 Q4/03 Q4/05 R&D expenses per Q % of Own License Sales Slide 11

40 % 600 30 % 400 20 % 200 10 % 0 0 % Q1/03 Q2/03

12 Equity Ratio at the End of QTR ( IFRS) 100 % 95 % 90 % 85 % 80 % 75 % 70 % 65 % 60 % Q1/03 Q2/03 Q4/03 Q4/05 Slide 12

13 Q4/03 Q4/ Slide 13 Liquid Funds ( IFRS) Q2/03 Q1/03 K euros

14 Q2/03 Q4/03 Q4/05 Slide 14 0,8 0,7 0,6 0,5 0,4 0,3 0,2 0,1 0 Shareholders Equity / Share ( IFRS) Q1/03 Euros

15 Highlights Q Finnish Defence Forces has selected Stonesoft's firewall products for its system management network, to be implemented as part of the Transition Network 2008 Technical University RWTH Aachen, Germany selected StoneGate Security solution to protect it s 10GB network StoneGate SG-4000 High-Availability Firewall and VPN gateway has been named a Hot Pick by Information Security magazine in February Secure Computing Magazine Awards Best Network Security Solution (Overall category) Best Enterprise Firewall StoneGate High Availability Firewall & Multi-Link VPN Received Very Good Rating in SC Magazine s Enterprise Appliances Group Test Slide 15

and VPN gateway has been named a Hot Pick by Information Security magazine in February Secure Computing Magazine Awards Best Network Security Solution (Overall

16 New solutions enabling secured, optimized, and resilient connectivity for converged services IPS To protect vulnerable applications and operating systems by stopping Spyware, P-2-P violating security policy, worms and other malware Enables organizations to meet regulatory compliance requirements Improves business productivity by ensuring business continuity Firewall/VPN Quality of Service and bandwidth management to enable service availability and usability SIP support to enable unmatched cost efficiency in communications HTTP Deep Packet Inspection to protect web services New FW/VPN and IPS Appliances Long term investment protection Cost efficient performance and reliability Slide 16

business continuity Firewall/VPN Quality of Service and bandwidth management to enable service availability and usability SIP support to enable unmatched cost efficiency in

17 Future Outlook The main goal for 2006 is to achieve faster growth than the market growth in the sales of StoneGate products, by utilizing the past investments. However, the development of the sales may fluctuate during the fiscal quarters. The company believes that the improvements in the operating results will materialize as a result of the sales growth. The company will achieve, over time, the right balance between the expenses and the sales. The company will enforce the focus to the key markets, develop further the partner community to support sales efforts and to further sharpen the marketing and communications actions to the key interest groups. Slide 17

The company believes that the improvements in the operating results will materialize as a result of the sales growth.

18 Slide 18

STONESOFT CORP. STOCK EXCHANGE RELEASE APRIL 28,2006 AT 9.00 AM STONESOFT CORP.'S INTERIM REPORT FOR JANUARY-MARCH 2006

STONESOFT CORP. STOCK EXCHANGE RELEASE APRIL 28,2006 AT 9.00 AM STONESOFT CORP.'S INTERIM REPORT FOR JANUARY-MARCH 2006 The sales of StoneGate products increased by 12 % during the first quarter. SUMMARY