Asseco South Eastern Europe S A : Financial results of ASEE for Q1_2024

Financial results for Q1.2024 And Business Update

25th April, 2024

Q1'24 - Highlights

• Very strong Payment as main contributor to EBIT growth YoY. Growth driven by eCommerce and Processing as well as IPD and ECR networks

• Q1 still good in Banking Solutions thanks to multichannel and security solutions, which

compensated slowdown in core banking. Slowdown expected from Q2 onwards

• Expected slower H1 in Dedicated Solutions due to delays in contracting new projects

• Significant negative impact of strong PLN (8% stronger versus EUR) on results in PLN

• Price indexation challenges in Turkey completed with positive results

• Q1 transactions: 526m (+28%) eCommerce transactions, 63m (+55%) IPD transactions,

109m (+13%) physical transactions processed

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Q1'24 - ASEE best deals

Banking solutions:

• Financial gateway implementation for a bank in Serbia
• Financial gateway implementation for a bank in Montenegro
• Implementation of Payment Gateway - Instant payment feature for financial institution in Serbia

• Tezauri Basel III solution implementation for the Bosnian Bank

• Open Banking solution provided for two banks in Montenegro
• Digital Edge Mobile & Web for the bank in Montenegro
• InAct Anti Fraud solution for three different banks in Montenegro

• Multifactor Authentication Solution SxS - for a large bank in Croatia
• Mobile application security solution - App Protector for a bank in Romania

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Q1'24 - ASEE best deals

Dedicated solutions:

• Mobile application for insights into the citizens' accounts in
  Serbia
• Licenses and implementation services of the WAF system in Serbia
• Licenses and support for software solution AlgoSec Firewall Analyzer, with the addition of AlgoSec trainings for Serbian Bank

• Integration of the DMS System for a private company in Romania
• Dynatrace Application Performance Management 2 Year Renewal Project at a large size broadcasting corporation

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Q1'24 - Payten best deals

E-Commerce:

• Payten Payment Gateway - Payten Payment Gateway project including card storage at an IT company
• Payten Payment Gateway - BNPL Integration at a payment facilitator
• Secure IVR Integration at a large size state-owned insurance company, at a large size state-owned life and pension insurance company
• Payten Fintech Suite - PF Installation and Integration at a payment facilitator of a large size public bank
• Threatmetrix Integration at a large size tourism company
• Paratika Virtual POS solution at an aluminum producing company, at an IT company, at an agriculture company.

• Nestpay - Juzdan BNPL Integration at a large size bank
• Nestpay - Secure Payment Page (HPP) at a large size public bank
• Nestpay &3D secure MPI 2.0&GO Integration at a large size e-money and payment company

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Q1'24 - Payten best deals

ATM and POS related services:

• Bank in Romania extended existing POS outsourcing contracts
• Extension of ATM maintenance contract for Croatian bank for three years
• Agreement for new DN ATM for one biggest banks in Serbia
• Implementation of the TermHost project to the Bank in Bulgaria which covers new UX for clients
• Agreement for the implementation of a teller cash recycler (TCR) on the Croatian market
• POS terminals delivery for a bank in Croatia
• Completed ATM Delivery for one bank in Romania
• MDM Platform for African processor

IPD and ECR:

• Instore Payments (IPD) solution for a clothing retailer chain in Croatia
• Instore Payments (IPD) solution for a beverages and food retailer chain in Croatia
• Instore Payments (IPD) solution for a jewelery retailer chain in Croatia

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Q1 2024 results

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Q1'24 - Growth of results in EUR

			mEUR					mPLN
	Q1 2024	Q1 2023	Q1 2024	Q1 2023	% Diff	Q1 2024	Q1 2023	Q1 2024	Q1 2023	% Diff
	no hyper.	no hyper.	no hyper.	no hyper.
Revenue	84.9	80.9	84.5	80.6	+5%	367.1	380.1	365.3	378.7	-4%
EBITDA	16.4	15.5	16.4	15.4	+6%	71.1	72.8	70.9	72.4	-2%
EBIT	11.0	10.6	11.1	10.6	+5%	47.5	49.8	47.9	49.8	-4%
NPAT	11.2	10.0	9.0	7.9	+13%	48.6	46.8	38.9	37.4	+4%
EBITDA %	19.4%	19.1%	19.4%	19.1%		19.4%	19.1%	19.4%	19.1%
EBIT %	12.9%	13.1%	13.1%	13.2%		12.9%	13.1%	13.1%	13.2%
EBIT non-IFRS	12.0	11.1	12.0	11.1	+8%	51.8	52.4	51.8	52.4	-1%
NPAT non-IFRS	10.4	8.6	10.4	8.6	+21%	44.9	40.3	44.9	40.3	+11%

Acquisitions effect - Rev: 2.8 | EBIT: 0.7 | EBITDA: 1.1

No hyper. - excluding hyperinflation accounting

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Q1'24 - Good quarter for Payment business

		Revenue			EBITDA			EBIT
mEUR	Q1 2024	Q1 2023	Diff	Q1 2024	Q1 2023	Diff	Q1 2024	Q1 2023	Diff
Payment Solutions	41.2	36.5	+4.6	10.0	8.3	+1.7	6.6	5.0	+1.6
Non-Payment	43.4	44.0	-0.7	6.4	7.1	-0.7	4.5	5.6	-1.1
Banking Solutions	16.7	15.4	+1.4	4.8	4.4	+0.4	4.1	3.7	+0.4
Dedicated Solutions	26.6	28.7	-2.0	1.6	2.7	-1.1	0.4	1.9	-1.5
ASEE Group TTL	84.5	80.6	+4.0	16.4	15.4	+1.0	11.1	10.6	+0.5

Revenue per BUs Q1 2024	EBIT per BUs Q1 2024		Profitability per BU
					Q1 2024	Q1 2023
		Dedicated
Dedicated		Solutions 4%	24%	24%
	Banking (18%)
Solutions	Payment
32% (36%)	Solutions			16%
Solutions	Payment		14%
	37% (35%)
	49% (45%)	Solutions
Banking
		59% (47%)			7%

Solutions	2%
20% (19%)
	BAN KIN G SOLU TIONS	P AY MEN T SOLU TIONS DEDIC ATED SOLU TIONS

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