adesso SE

Quarterly Report • May 16, 2022

QUARTERLY STATEMENT Q1 2022

before one-off

Key figures

in EURk	Q1 2022	Q1 2021	Change	in%	Q1 2022 (adjusted)	Q1 2021 (adjusted)	Change	in%
PROFIT SITUATION
Sales revenues	209,767	163,199	46,568	29	209,767	163,199	46,568	29
domestic	171,945	130,404	41,541	32	171,945	130,404	41,541	32
foreign	37,822	32,795	5,027	15	37,822	32,795	5,027	15
EBITDA	27,879	35,827	-7,948	-22	23,294	18,811	4,483	24
EBITDA margin (in%)	13.3	22.0	-8.7	-40	11.1	11.5	-0.4	-3
Consolidated earnings	12,526	23,492	-10,966	-47	7,941	6,476	1,465	23
BALANCE SHEET
Balace sheet total	579,298	417,694	161,604	39
Equity	209,566	126,328	83,238	66
Equity ratio (in%)	36.2	30.2	5.9	20
Liquid assets	66,948	51,147	15,801	31
Net cash position	-8,186	-17,649	9,463	54
EMPLOYEES
Employees (FTE)	6,270	5,079	1,191	23
domestic	5,177	4,106	1,071	26
foreign	1,092	973	119	12
Gross profit/Employees	117	112	5	4
SHARE
Number	6,503,272	6,185,343	317,929	5
Price at the end of the period (in EUR)	185.60	108.50	77.10	71
Market capitalisation at the end of the period (in EUR m)	1,207.0	671.1	535.9	80
Earnings per share (in EUR)	1.92	3.78	-1.86	-49	1.22	1.05	0.17	17

Mission Statement

adesso optimises companies' core business processes with the targeted use of information technology. We offer customers expert consulting based on our in-depth industry knowledge and use our technical know-how to develop customised software solutions. For a defined set of operational tasks adesso provides innovative solutions and products. As an independent partner, we aim to help our customers make the most of their business potential while retaining flexibility in the future.

Content

• 4 Summary of key developments in the reporting period
• 6 Economic report
• 10 Forecast report
• 10 Subsequent events
• 12 Consolidated balance sheet
• 14 Consolidated income statement
• 14 Consolidated statement of comprehensive income
• 15 Consolidated cash flow statement
• 16 Segment information
• 18 Financial calendar
• 19 Imprint

SUMMARY OF KEY DEVELOPMENTS IN THE REPORTING PERIOD

Buoyed by non-recurring effects from business acquisitions, adesso SE started financial year 2022 with a strong first quarter

Anticipated

decline

in reported EBITDA therefore

less than forecast

(-22 % to EUR 27.9 million; previous year: EUR 35.8 million)

Full-year sales and EBITDA guidance

confirmed

Executive Board statement on the reporting period

"At 29%, adesso succeeded in more or less matching the fast pace of growth seen in financial year 2021 in the first quarter of the new year. In the same quarter of the previous year, EBITDA was influenced by a strong non-recurring effect of EUR 17.0 million due to the sale of the e-Spirit Group. The company acquisitions in the first quarter of 2022 also had a positive non-recurring effect of EUR 4.6 million, primarily on account of the recognition of investment carrying amounts from the acquisition of shares in profit or loss.

As a result, both the strong growth and the EBITDA contribution in the first quarter of 2022 exceeded expectations. Adjusted for the positive EBITDA effects in the first quarters of 2022 and 2021, the good business development also corresponds to our sustainable growth trajectory in operating terms. Despite a slight change in risk expectations with regard to the general economic conditions for the rest of 2022, we stand by the original full-year guidance at the present time – even though the higher EBITDA contribution in the first quarter does set the stage for good business performance over the remaining course of the year."

Economic report

Business performance

adesso SE increased its sales revenues quarter on quarter and year on year to a new record level of EUR 209.8 million in the first quarter of 2022. Due to sustained high levels of capacity utilisation and booking intensity in IT service business and initial in|sure Ecosphere licensing revenue, the company achieved growth of 29% compared to the same quarter the previous year. Around 23 percentage points of that growth were generated organically, with 6 percentage points attributable to inorganic growth. The number of employees (expressed as full-time equivalents, or FTEs) increased by 1,191, or 23%, year on year to stand at 6,270 as at the reporting date. The number of employees abroad increased further, by 12%, due to the further internationalisation of adesso. Outside Germany, adesso now employs a total of 1,092 people (FTEs). The average number of employees (FTEs) rose by 18% year on year in the first three months of the year.

Germany accounted for the largest share of sales growth, at 32%. Revenue abroad increased by 15%. At 82%, the share of total sales revenues generated in Germany was up slightly year on year (81%). Dynamic, double-digit sales growth was achieved in nearly all core industries served by adesso, with only the insurance sector seeing results on a par with the previous year. The public administration and automotive industry business areas recorded particularly strong growth of 94% and 122% respectively. The virtual doubling of sales in public administration meant that the business area became adesso's highest-revenue core industry in the first quarter, ahead of insurance.

Position

Earnings situation

At 22 %, the anticipated drop in earnings compared to the value in the same quarter of the previous year, which was high due to the sale of the e-Spirit Group, was lower than expected. EBITDA stood at EUR 27.9 million in the first quarter of 2022 and was again positively influenced by non-recurring effects of EUR 4.6 million in connection with (successive) business acquisitions. The lion's share of that total (EUR 3.9 million) was attributable to the remeasurement of the stake in material.one AG (formerly: logsolut AG) in profit or loss due to the acquisition of further shares in the company, bringing adesso's stake up to around 53%. Adjusted for these non-recurring effects, EBITDA would have risen by 24%, from EUR 18.8 million to EUR 23.3 million. The adjusted EBITDA margin fell slightly from 11.5% to 11.1% in the current financial year. Thanks to sustained high levels of capacity utilisation and booking intensity in IT service business and initial in|sure Ecosphere licensing revenue, along with acquisitions, quarterly sales exceeded the mark of EUR 200 million for the first time to stand at EUR 209.8 million. However, the rise in sales is not fully reflected in adjusted EBITDA, as the cost of materials (+66% to EUR 30.4 million) and other operating expenses (+51% to EUR 23.5 million), among other factors, grew disproportionately to the increase in sales. Gross profit therefore rose less sharply than sales, by 24% to EUR 179.3 million. Personnel costs increased at a slower rate than sales, climbing by 20% to EUR 135.2 million. In terms of the average number of employees on the payroll in the reporting period

in EURk	Q1 2022	Q1 2021	Change	Change in%
Sales	209,767	163,199	46,568	29
EBITDA	27,879	35,827	-7,948	-22
EBITDA margin (in%)	13.3%	22.0%	-8.7	-39
Consolidated earnings	12,526	23,360	-10,897	-47
Earnings per share	EUR 1.92	EUR 3.78	EUR -1.86	-49

KEY FIGURES PROFIT SITUATION

(full-time equivalents), personnel costs rose only slightly, by 1%, year on year.

Notes on individual items in the income statement

Other operating income fell by 63% year on year, from EUR 19.1 million to EUR 7.1 million. The value in the same quarter of the previous year had been influenced by a marked non-recurring effect from the sale of the e-Spirit Group in the amount of EUR 17.0 million. The current financial year includes non-recurring effects of EUR 4.6 million in connection with (successive) business acquisitions. Adjusted for these non-recurring effects, other operating income was virtually on the same absolute level, at EUR 2.5 million and EUR 2.1 million.

The cost of materials, which primarily related to services from external providers purchased within the scope of customer projects, increased significantly more sharply than sales, rising by 66% to EUR 30.4 million and standing at 15% of sales. As a result of this fast growth, adesso continues to use external services. At the same time, personnel costs increased by 20%, from EUR 112.5 million to EUR 135.2 million. The rise was slightly lower than the 23 % growth in full-time equivalents (FTEs). Annualised gross profit per employee in the first three months of the year came to EUR 117 thousand (previous year: EUR 112 thousand).

Other operating expenses increased by 51%, from EUR 15.4 million to EUR 23.1 million. The rise was due to the declining impact of the COVID-19 pandemic on public life in the first quarter of 2022, among other factors. Alongside an initial rise in travel costs, other operating expenses rose as a result of expenditure in relation to the Cultural Refit programme initiated by adesso. IT infrastructure conversion projects were also launched at adesso SE. Said projects are associated with a corresponding increase in expenses compared to the same period in the previous year. Expenditures in connection with workforce growth – such as recruitment, rents and mobility expenses – also drove the increase in other operating expenses.

Depreciation and amortisation of EUR 10.0 million (previous year: EUR 7.8 million) includes depreciation and amortisation of rights of use from leases in the amount of EUR 5.6 million (previous year: EUR 4.4 million), which accounted for the lion's share of overall depreciation and amortisation. No goodwill impairments were recognised.

Income tax expense came to EUR 4.2 million (previous year: EUR 3.8 million). Based on pre-tax profit, the tax rate was calculated at 25% (previous year: 14%). The increase in the tax rate was primarily due to the sale of the e-Spirit Group in the previous year, which generated income that was largely tax-free upon recognition.

	Q1 2022	Q1 2021	Change	Change in %
Employees at the end of the period	6,957	5,589	1,368	24
Full-time equivalents (FTE) at the end of the period	6,270	5,079	1,191	23
Full-time equivalents (FTE) average for the year	6,145	5,186	959	18
Sales annualised per average FTE (in EURk)	137	126	11	9
Gross profit annualised per average FTE (in EURk)	117	112	5	4
Personnel costs annualised per average FTE (in EURk)	88	87	1	1

EMPLOYEE KEY FIGURES

Employee key figures

The total number of employees at the Group increased by 1,191, or 23% (previous year: 887 or 21%), from 5,079 to 6,270 full-time equivalents. The increase was similar to the one seen in the previous year. In the first three months of 2022, the number of employees rose by 457 (previous year: 104) from the figure reported on 31 December 2021. The number of employees outside of Germany increased year on year by a total of 12% to 1,092 full-time equivalents.

Financial position and results of operations

The rise in goodwill and intangible assets was primarily due to the successive acquisition of shares in material.one AG (formerly: logsolut AG). In the previous year, the shares had been reported under interests recognised under the equity method, which were reduced in line with the carrying amount.

Liquid assets fell by 39% compared to 31 December 2021 to stand at EUR 66.9 million. The decline matched the typical development in the first quarter, which sees the payment of variable salary components. Due to the marked rise in net operating assets, cash flow from operating activities amounted to EUR -26.2 million after EUR -14.1 million in the previous year. Trade receivables and contract assets increased sharply by 27%, from EUR 162.1 million to EUR 206.6 million. In the previous financial year, cash flow from investment activities had been markedly influenced by the proceeds from the sale of the e-Spirit Group. Cash flow from investment activities amounted to EUR -7.9 million in the first quarter of 2022, declining from EUR 7.6 million in the same period of previous year. Cash flow from financing activities stood at EUR -8.6 million (previous year: EUR 2.8 million). This development was primarily due to the complete absence of new borrowing in the current financial year, which was attributable to the capital situation as a result of the October 2021 capital increase.

As at 31 March 2022, equity was 9% higher than on 31 December 2021, rising from EUR 191.8 million to EUR 209.6 million. The rise is the result of the consolidated earnings and the new non-controlling shares from the acquisition of the majority stake in material. one AG (formerly: logsolut AG).

The financial liabilities were characterised by ongoing repayments and the absence of new borrowing, leading to a decrease of 5% compared to 31 December 2022 and bringing the total down to EUR 75.1 million. Net liquidity came to EUR -8.2 million as at the reporting date (31 December 2021: EUR 31.0 million; 31 March 2021: EUR -17.6 million).

Investments and company acquisitions

Investments in property, plant and equipment amounted to EUR 4.6 million (previous year: EUR 3.3 million) and comprised regular investments in new and replacement factory and office equipment such as IT equipment and furnishings. There is no investment backlog to report.

In the reporting period, the stake in material.one AG (formerly: logsolut AG) was raised to 53.44% as part of a capital increase. material.one AG supports digitalisation in the manufacturing industry along global supply chain management systems.

On 20 January 2022, adesso acquired all of the shares in Gorbit GmbH, Overath, Germany. Gorbit GmbH is an IT consultancy and development firm specialising in SAP technology with a focus on SAP user administration and batch management, as well as proprietary add-on solutions. The company was merged with adesso orange AG in the reporting period.

On 24 February 2022, adesso acquired 80% of the shares in Ries Corporate Solutions GmbH, Hamburg, Germany, equating to all of the shares in Pension Partner Trust GmbH (PPT). Ries specialises in company pensions, working time accounts and partial retirement programmes, enhancing the range of products and services related to the existing software solution in|sure CollPhir. PPT is a contractual trust arrangement (CTA) designed to fund pension obligations and help customers optimise their balance sheets. Both companies were renamed adesso benefit solutions GmbH (Ries) and adesso partner trust GmbH (PPT) in the reporting period.

The presentation of the merger is provisional, as the information needed for the identification and valuation of the assets and liabilities acquired has not yet been conclusively determined.

ACQUISITIONS

in EURk	material.one	Gorbit	Ries	Total
Goodwill	2,052	-	-	2,052
Customer contracts	264	188	576	1,028
Software	11,168	-	231	11,399
Order backlog	93	155	259	507
Other non-current assets	400	16	109	525
Trade receivables	329	692	164	1,185
Other current assets	23	12	61	96
Cash and cash equivalents	2,888	322	241	3,451
Total assets	17,217	1,385	1,641	20,243
Provisions	11	79	70	160
Trade payables	400	162	74	636
Tax liabilities	-	5	83	88
Financial liabilities	442	200	231	873
Contract liabilities	-	25	3	28
Other liabilities	388	257	66	711
Deferred tax liabilities	2,898	107	263	3,268
Total liabilities	4,139	835	790	5,764
Net assets	13,078	550	851	14,479
Net assets attributable to adesso	7,944	550	681	9,175
Non-controlling interests	5,135	-	170	5,305
Consideration	7,944	550	25	8,519
of which made in cash	2,575	550	25	3,150
Cash and cash equivalents received	2,888	321	241	3,450
CASH OUTFLOWS (+) FROM ACQUISITIONS	-312	229	-216	-299

Forecast report

Anticipated development of adesso SE

At the time of this report's publication, the strong positive non-recurring effect on EBITDA in the first quarter of 2022 is offset by a slight change in risk expectations with regard to the general economic conditions for the rest of 2022. Even though adesso is still not directly affected, this development is mainly due to the downgrading of general economic growth forecasts as a result of price increases and interest rate adjustments, as well as the ongoing disruption of global supply chains and uncertainties in association with the Ukraine conflict. At the present time, the Executive Board is therefore standing by its original full-year guidance for 2022, even though the higher EBITDA contribution in the first quarter does set the stage for good business performance over the rest of the year

Subsequent events

On 5 April 2022, adesso acquired all of the shares in the Purple Scout Group (Malmö, Sweden). In addition to its headquarters, the company operates branch offices and subsidiaries in Gothenburg, Borås and Växjö (Sweden), as well as in Copenhagen (Denmark). Purple Scout is considered a specialist in the fields of Java development, cloud migration, artificial intelligence, big data, virtual reality, augmented reality, e-commerce and DevOps. The acquisition allows adesso to continue its expansion in northern Europe. Purple Scout employs a staff of roughly 60. The Purple Scout subsidiaries in Malmö and Copenhagen will be renamed adesso Sweden and Denmark.

Quarterly statement Q1 2022 adesso Group 11

Consolidated balance sheet

OF ADESSO GROUP AS OF 31 MARCH 2022 ACCORDING TO IFRS

ASSETS

in EURk	31.03.2022	31.12.2021
NON-CURRENT ASSETS
Goodwill	70,565	68,446
Intangible assets	33,649	22,676
Property, plant and equipment	31,029	28,395
Right-of-use from leasing	135,054	135,977
Shareholdings recognized under the equity method	2,748	4,076
Financial assets	13,538	10,368
Other non-current assets	319	0
Deferred tax assets	2,455	2,007
	289,357	271,945
CURRENT ASSETS
Cash and cash equivalents	66,948	109,922
Trade accounts receivable	127,229	120,000
Contract assets	79,408	42,127
Receivables from income taxes	2,624	1,981
Financial assets	1,487	1,603
Other assets	12,245	8,127
	289,941	283,760

EQUITY AND LIABILITIES

in EURk	31.03.2022	31.12.2021
EQUITY
Subscribed capital	6,503	6,503
Capital reserve	52,977	52,728
Other retained earnings	144,835	132,372
Accumulated other comprehensive income	-399	-236
Non-controlling interests	5,650	460
	209,566	191,827
NON-CURRENT LIABILITIES
Financial liabilities	53,191	55,136
Pensions and similar liabilities	202	147
Provisions	3,993	3,546
Leasing liabilities	121,056	121,085
Deferred tax liabilities	8,315	4,644
	186,757	184,558
CURRENT LIABILITIES
Financial liabilities	21,943	23,777
Trade accounts payable	28,682	28,209
Contract liabilities	17,951	11,516
Leasing liabilities	19,208	19,318
Liabilities from income taxes	4,792	3,911
Provisions	10,796	12,136
Other liabilities	79,603	80,453
	182,975	179,320

TOTAL EQUITY AND LIABILITIES	579,298	555,705

Consolidated income statement

OF ADESSO GROUP FOR THE PERIOD FROM 1 JANUARY TO 31 MARCH ACCORDING TO IFRS

in EURk	Q1 2022	Q1 2021
Sales revenues	209,767	163,199
Other operating income	7,123	2,103
Income from the disposal of subsidiaries	0	17,016
Own work capitalised	200	0
TOTAL INCOME	217,090	182,318
Costs of material	-30,442	-18,392
Personnel costs	-135,223	-112,479
Result from the derecognition of financial assets	0	-12
Result from the change in impairment on financial assets measured at amortised cost	-462	-245
Other operating expenses	-23,084	-15,363
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION (EBITDA)	27,879	35,827
Depreciation on property, plant and equipment	-9,953	-7,834
EARNINGS BEFORE INTEREST AND TAXES (EBIT)	17,926	27,993
Earnings from shares recognized under the equity method	-261	-86
Interest income and similar income	13	8
Interest expenses and similar expenses	-948	-620
INCOME FROM ORDINARY ACTIVITIES (EBT)	16,730	27,295
Income taxes	-4,204	-3,803
CONSOLIDATED EARNINGS	12,526	23,492
of which attributable to shareholders of adesso SE	12,463	23,360
of which attributable to non-controlling interests	63	132
Number of shares at the end of the period	6,503,272	6,185,343
UNDILUTED EARNINGS PER SHARE (IN EUR)	1.92	3.78
DILUTED EARNINGS PER SHARE (IN EUR)	1.91	3.77

Consolidated statement of comprehensive income

OF ADESSO GROUP FOR THE PERIOD FROM 1 JANUARY TO 31 MARCH ACCORDING TO IFRS

in EURk	Q1 2022	Q1 2021
Consolidated earnings	12,526	23,492
OTHER COMPREHENSIVE INCOME, SUBSEQUENTLY TRANSFERRED TO THE INCOME STATEMENT
Currency translation differences	-163	-56
OTHER COMPREHENSIVE INCOME	-163	-56
TOTAL INCOME	12,363	23,436
of which attributable to shareholders of adesso SE	12,303	23,303
of which attributable to non-controlling interests	60	133

Consolidated cash flow statement

OF ADESSO GROUP FOR THE PERIOD FROM 1 JANUARY TO 31 MARCH ACCORDING TO IFRS

in EURk	Q1 2022	Q1 2021
EARNINGS BEFORE TAX	16,730	27,295
Income from financing activities	935	612
Scheduled depreciation and amortization on property, plant and equipment and intangible assets	9,953	7,834
Result from shares recognized under the equity method	261	86
Non-cash income (-) / expenses (+)	-4,192	124
Income (-) / expenses (+) from the disposal of consolidated subsidiaries	0	-17,013
Change in pension provisions	55	-4
Change in other provisions	-1,053	1,232
Tax payments	-4,098	-14,541
Change to net operating assets	-44,761	-19,743
CASH FLOW FROM OPERATING ACTIVITIES	-26,170	-14,118
Divestments of financial assets	1,008	0
Disposal of subsidiaries (less cash and cash equivalents disposed)	0	11,986
Investments in shares recognised at equity	-14	-423
Investments in property, plant and equipment	-4,573	-3,372
Investments in intangible assets	-354	-628
Investments in financial assets	-4,216	0
Acquisition of subsidiaries (less cash and cash equivalents acquired)	299	0
CASH FLOW FROM INVESTMENT ACTIVITIES	-7,850	7,563
Dividends from shares recognised under the equity method	141	249
New liabilities to banks	36	13,773
Repayment of financial liabilities	-3,364	-5,896
Repayment of leasing liabilities	-4,732	-4,759
Interest paid	-741	-620
Interest received	13	8
CASH FLOW FROM FINANCING ACTIVITIES	-8,647	2,755
"Changes in value or exchange rate-related changes in cash and cash equivalents"	-307	-106
CHANGE IN CASH AND CASH EQUIVALENTS	-42,974	-3,906
Cash and cash equivalents at the beginning of the period	109,922	55,053
Cash and cash equivalents at the end of the period	66,948	51,147

Segment information

Q1 2022 (in EURk)	IT-Services	IT-Solutions	Reconcili ation local laws/IFRS	Consolida tion/ other	Group
Revenues with external customers Services Licences	185,872 1,648	13,821 4,627	3,826 -	- 27 -	203,492 6,275
Revenues with other operating segments	31,896	5,508	-	-37,404	-
TOTAL SALES	219,416	23,956	3,826	-37,431	209,767
Other operating income	3,396	384	3,831	-488	7,123
Changes in inventories	1,704	1,301	-3,005	-	-
Own work capitalised	-	42	-	158	200
Cost of materials	-59,366	-6,483	-	35,407	-30,442
Personnel costs	-119,491	-15,163	-714	144	-135,223
Other operating expenses	-27,700	-3,089	5,084	2,159	-23,546
EBITDA	17,960	948	9,022	-51	27,879
Depreciation and amortisation	-2,845	-379	-6,523	-206	-9,953
Goodwill impairment	-879	-81	960	-	-
EBIT	14,236	488	3,459	-257	17,926
Income from financing and investment activities	1,014	-36	-572	-1,602	-1,196
EBT	15,250	452	2,887	-1,859	16,730
Goodwill impairment	879	81	-960	-	-
EBT BEFORE GOODWILL IMPAIRMENT	16,129	533	1,927	-1,859	16,730

Q1 2021 (in EURk)	IT-Services	IT-Solutions	Reconcili ation local laws/IFRS	Consolida tion/ other	Group
Revenues with external customers Services Licences	132,168 1,192	19,379 2,789	7,526 111	35 -	159,108 4,091
Revenues with other operating segments	21,635	4,569	-	-26,204	-
TOTAL SALES	154,995	26,737	7,637	-26,170	163,199
Other operating income	20,219	571	1,497	-3,167	19,119
Changes in inventories	6,269	476	-6,745	-	-
Own work capitalised	-	-	-	-	-
Cost of materials	-37,466	-6,777	-	25,851	-18,392
Personnel costs	-96,661	-15,646	-352	180	-112,479
Other operating expenses	-16,668	-3,224	3,589	683	-15,620
EBITDA	30,688	2,137	5,626	-2,623	35,827
Depreciation and amortisation	-1,775	-473	-5,405	-181	-7,834
Goodwill impairment	-1,625	-147	1,772	-	-
EBIT	27,288	1,517	1,992	-2,804	27,993
Income from financing and investment activities	-78	937	-371	-1,186	-698
EBT	27,210	2,454	1,621	-3,990	27,295
Goodwill impairment	1,625	147	-1,772	-	-
EBT BEFORE GOODWILL IMPAIRMENT	28,835	2,601	-151	-3,990	27,295

Financial calendar

Date	Event
2022-01-10/11	25nd ODDO BHF Forum, Lyon (virtual)
2022-01-17	21st German Corporate Conference (GCC) of UniCredit/Kepler Cheuvreux (virtual)
2022-02-22	Warburg German Ideas Day, Warsaw (virtual)
2022-03-16	Berenberg EU Opportunities Conference 2022, London (virtual)
2022-03-29	Publication of the 2021 annual report, financial press/analyst conference, Dortmund
2022-05-16	Publication of the Quarterly Statement Q1 2022
2022-05-23	Spring Conference 2022, Frankfurt/Main
2022-05-31	Regular ASM, Dortmund
2022-06-24	Warburg Highlights 2022 Conference, Hamburg
2022-08-15	Publication of the 2022 half-year report
2022-08-24	Berenberg Copenhagen Top Picks, Copenhagen
2022-09-05/06	German Fall Conference 2022, Frankfurt/Main
2022-09-21	Berenberg and Goldman Sachs Eleventh German Corporate Conference, Munich
2022-11-14	Publication of the Quarterly Statement Q3 2022
2022-11-28 to 30	German Equity Forum 2022, Frankfurt/Main

Imprint

adesso SE | Adessoplatz 1 | 44269 Dortmund | Germany | T +49 231 7000-7000 | F +49 231 7000-1000 | ir@adesso.de Concept: adesso SE | Layout: Marcus Lazzari, www.roeske-lazzari.de

IR contact:

Martin Möllmann Manager Investor Relations T +49 231 7000-7000 F +49 231 7000-1000 E ir@adesso.de

Legal notice:

The adesso SE Quarterly Statement was prepared in accordance with Section 53 of the Frankfurt Stock Exchange Rules and Regulations (Börsenordnung). This Statement is not an interim report within the meaning of IAS 34 or a set of financial statements within the meaning of IAS 1. It was not subjected to a review by an auditor. This Quarterly Statement should be read alongside the 2021 Annual Report and the additional information about the company contained therein. This interim report contains forward-looking statements that pertain to the business, financial position and income of adesso SE. Forward-looking statements are not historical facts and are indicated by a number of terms, including "believe", "expect", "predict", "intend", "forecast", "plan", "estimate", "endeavour", "foresee", "assume", "pursue the goal" and other similar expressions. Forward-looking statements are based on current plans, estimates, forecasts and expectations and are therefore subject to risks and elements of uncertainty that could result in significant deviations between actual developments, income and performance and the developments, income and performance explicitly stated or implicitly supposed in the forward-looking statements. Readers are advised not to place undue faith in these forward-looking statements, which are valid solely at the moment at which they are made. adesso SE does not intend to publish an update of these forward-looking statements to take into account events or circumstances that take place or arise after the date of publication of this document and does not assume any liability for doing so.

adesso SE

Adessoplatz 1 44269 Dortmund T +49 231 7000-7000 F +49 231 7000-1000 ir@adesso.de www.adesso-group.de www.adesso.de