Wiit S p A : Presentazione Risultati 1Q 2024 (Eng)

WIIT takes your business above the clouds

Q1 2024

Results Presentation

May 09, 2024

Disclaimer

This document has been prepared by WIIT S.p.A. (the "Company") for information and discussion purposes only, it contains only summary information and, therefore, it is preliminary in nature. Furthermore it has been drafted without claiming to be exhaustive.

This presentation ("Presentation") is confidential and, as such, has not been prepared with a view to public disclosure and, except with the prior written consent of the Company, it cannot be used by the recipient for any purpose nor can it be disclosed, copied, recorded, transmitted, further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose. Therefore,

the recipient undertakes vis-à-vis the Company (i) to keep secret any information of whatever nature relating to the Company and its affiliates including, without limitation, the fact that the information has been provided ("Information"), (ii) not to disclose any Information to anyone, (iii) not to make or allow any public announcements or communications concerning the Information and (iv) to use reasonable endeavors

to ensure that Information are protected against unauthorized access.

This document is not an advertisement and in no way constitutes a proposal to execute a contract, an offer or invitation to purchase, subscribe or sell for any securities and neither it or any part of it shall form the basis of or be relied upon in connection with any contract or commitment or investments decision whatsoever. The Company has not prepared and will not prepare any prospectus for the purpose of the initial

public offering of securities. Any decision to purchase, subscribe or sell for securities will have to be made independently of this Presentation. Therefore, nothing in this Presentation shall create any binding obligation or liability on the Company and its affiliates and any of their advisors or representatives.

This Presentation does not constitute an offer to the public in Italy of financial products, as defined under article 1, paragraph 1, letter (t) of legislative decree no. 58 of 24 February 1998, as amended.

This Presentation is not for distribution in, nor does it constitute an offer of securities for sale in the United States of America, Canada, Australia, Japan or any jurisdiction where such distribution is unlawful, (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act"). Neither this Presentation nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person. Any failure to comply with this restriction may constitute a violation of United States securities laws.

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relating thereto. In particular, but without limitation, no representation or warranty, express or implied, is or will be given as to the achievement or reasonableness of, and no reliance may be placed for any purpose on the accuracy or completeness of, any estimates, targets, projections or forecasts and nothing in these materials should be relied upon as a promise or representation as to the future.

The information and opinions contained in this document are provided as at the date hereof and are subject to change without notice. The recipient will be solely responsible for conducting its own assessment of the information set out in the Presentation. Neither the Company and its affiliates, nor any of their advisors or representatives shall be obliged to furnish or to update any information or to notify or to correct any inaccuracies in any information. Neither the Company and its affiliates, nor any of their advisors or representatives shall have any liability to the recipient or to any of its representatives as a result of the use of or

reliance upon the information contained in this document.

Certain information contained in this Presentation may contain forward-looking statements which involve risks and uncertainties and are subject to change. In some cases, these forward-looking statements can be identified by the use of words such as "believe", "anticipate", "estimate", "target", "potential", "expect", "intend", "predict", "project", "could", "should", "may", "will", "plan", "aim", "seek" and similar expressions. The forecasts and forward-looking statements included in this document are necessarily based upon a number of assumptions and estimates that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies as well as assumptions with respect to future business decisions that are subject to change. By their nature, forward-looking statements involve known and unknown risks and uncertainties, because they relate to events, and depend on circumstances, that may or may not occur in the future. Furthermore, actual results may differ materially from those contained in any forward-looking statement due to a number of significant risks and future events which are outside of the Company's control and cannot be estimated in advance, such as the future

economic environment and the actions of competitors and others involved on the market. These forward-looking statements speak only as at the date of this Presentation. The Company cautions you that forward looking-statements are not guarantees of future performance and that its actual financial position, business strategy, plans and objectives of management for future operations may differ materially from

those made in or suggested by the forward-looking statements contained in this Presentation. In addition, even if the Company's financial position, business strategy, plans and objectives of management for future operations are consistent with the forward-looking statements contained in this Presentation, those results or developments may not be indicative of results or developments in future periods. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard

thereto or any change in events, conditions or circumstances on which any such statement is based.

By accepting this Presentation, you acknowledge and agree to be bound by the foregoing terms, conditions, limitations and restrictions.

+5.5%

+8.4%

+6.6%

+5.3%

157,2 M€

Revenues

33,5 M€ vs 31,8 M€ in Q1 2023

Ebitda Adjusted

13,0 M€ vs 12,0 M€ in Q1 2023 EBITDA margin Adj. of 38.9%

Ebit Adjusted

7,2 M€ vs 6,7 M€ in Q1 2023 Ebit margin Adj. of 21.3%

Net Profit Adjusted

4,1 M€ vs 3,9 M€ in Q1 2023

Net debt Adjusted (excluding

IFRS16 and including the treasury shares value at March 31,2024)

154,2 M€ at December 31, 2023

Financial

Highlights

Q1 2024

vs

Q1 2023

3

230 Italy

employees

Revenues	15,0 M€
	44.9% of Group

347

Germany employees

KEY FIGURES

	Revenues
EBITDA	6,7 M€
Adj.
51.1% of Group
	EBITDA
	44.3% EBITDA
	Margin
EBIT Adj.	3,2 M€
	44.1% of Group
	EBIT
	21.0% EBIT
	Margin

Revenues

EBITDA

Adj.

EBIT

Adj.

18,5 M€

55.1% of Group Revenues

6,4 M€

48.9% of Group

EBITDA

34.5% EBITDA

Margin

4,0 M€

55.9% of Group

EBIT

21.7% EBIT

Margin

BY COUNTRY

4

+5.5% Revenues

33,5 M€ vs 31,8 M€ in Q1 2023

• Constantly growing market;
• Increase driven by organic growth, characterised by the development of higher value- added services, increasing cross-selling to customers of acquired companies and the entry of new customers;
• Organic growth:
• • Italy +3.6% (increase of Core Revenues + 7.9%) improving on 1Q 2023
  • Germany +7.0% (increase of Core Revenues +7.5%) improving on 1Q 2023

The consolidation of the newly-acquired companies EDGE&Cloud and Econis AG will start on April 1, 2024 and May 1, 2024, respectively.

Financial Highlights

Q1 2024

vs

Q1 2023

5

ARR	Italy 82.5%
Germany 98.0%

Core	Italy 14,8 M€ +7.9%
Revenues
+ 7.7%	Germany 14,4 M€ +7.5%

Revenues breakdown Q1 2024

6

+8.4%	Ebitda Adjusted*	Financial
EBITDA margin Adj. of 38.9% in Q1 2024
	13,0 M€ vs 12,0 M€ in Q1 2023
	(EBITDA margin Adj. of 37.8 % in Q1 2023)	Highlights

• Concentration on Cloud services, optimized processes and operating services organization;
• Adjusted Operating Costs of approximately 11,5M€ show an increase of 0,3 M€ compared to Q1 2023. This increase is mainly attributable to the cost synergies related to the organic growth and to marketing and communication costs to support the growth;
• Adjusted Personnel Costs of approximately 9,1M€ show an increase of 0,8 M€ compared to Q1 2023. This change is mainly attributable to the organic growth and to the investments in Corporate and commercial structure;
• WIIT Group's margin improving in Q1 2024 vs Q1 2023 mainly thanks to the focus on value-added services at Group level and sales rationalization and achieved cost synergies in Italy;
• EBITDA Margin:
• • Italy 44.3% vs 40.8% in Q1 2023
  • Germany 34.5% vs 35.3% in Q1 2023.

• The Adjustment refers to the costs related to stock option and stock grant plans for 155,3 K€, to the M&A transactions for 15,5 K€ and to personnel reorganisation for 10,8 K€.

Q1 2024 vs

Q1 2023

7

+6.6%

+5.3%

Ebit Adjusted*

7,2 M€ vs 6,7 M€ in Q1 2023

EBIT margin Adj. of 21.3% in Q1 2024

(EBIT margin Adj. of 21.1% in Q1 2023)

Net Profit Adjusted**

4,1 M€ vs 3,9 M€ in Q1 2023

Financial Highlights

Q1 2024

vs

Q1 2023

• The Adjustment refers to the Purchase Price Allocation of the acquisition for 1,2 M€ and it includes the variations for EBITDA Adjustment too.
• The Adjustment includes the fiscal effect of the already described normalization at EBITDA and EBIT level

8

157,2 M€ Net debt Adjusted

(excluding IFRS16 of 10,6M€ and including the treasury shares value at March 31, 2024 of 34,4M€ )

154,2 M€ as at December 31, 2023

• Operating cash flow generation of 9,8 M€;
• Capex investment of 9,6 M€ (excluding 2,6M€ right of use investment);
• Cash and cash equivalent of 19,2 M€ (+5,5 M€ referred to 31.12.2023), dues to the maturity of the Italian Government bonds

Net Financial Position (including IFRS 16 impact for approx. 11,6 M€): debt of 203,1 M€ (202,2 M€ at December 31, 2023); the amount includes new investments in Capex for 9,6M€. The value doesn't include the valuation of treasury shares in portfolio quantified in 34,4 M€ at market value as at March 31, 2024.

Financial Highlights

Q1 2024

vs

FY2023

Free Float

Alessandro36.65%

Cozzi (*)

56.47%

Treasury

Shares

6.88%

1. Alessandro Cozzi and his own companies

Shareholders' Structure

At May 09, 2024

No. Shares 28,020,660

10