Investor Presentation July 2019

Important Disclosure

THIS COMMUNICATION IS PROVIDED FOR INFORMATION PURPOSES ONLY AND IS SUBJECT TO CHANGE. IT IS INDICATIVE, NOT BINDING AND WILL NOT BE UPDATED

This communication and information included therein has been prepared solely by ALLGEIER SE (the Company), has not been verified independently and is provided for information purposes only and should not be generally distributed directly or indirectly into or within the United States, Canada, Australia, Japan or the United Kingdom, or in any other jurisdiction where such distribution would be unlawful. Unless otherwise stated, the Company is the source of the information contained herein. For the purposes of this notice, the Presentation includes this document, its contents or any part of it and any related video or oral presentation, any question or answer session and any written or oral material discussed or distributed during the presentation meeting.

Presentations are by their nature abbreviated information and cannot substitute for narrative information. In addition, the information herein is preliminary and is not comprehensive. Consistent with its purpose, this Presentation does not include all information that is material to evaluate the strengths and weaknesses as well as risks and opportunities of the Company.

This communication may contain "forward-looking" information which may include, but is not limited to, projections, forecasts or estimates of cash flows, yields or return, scenario analyses and model illustrations. Any forward-looking information is based upon certain assumptions about future events or conditions and is intended only to illustrate hypothetical results under those assumptions (not all of which are specified herein or can be ascertained at this time).

The Company and its advisers, including COMMERZBANK AG and M.M.Warburg & CO (AG & Co.) KGaA (together, the Banks) and any of their respective affiliates, personally liable partners, directors, officers, employees, advisers or agents, shall accept no responsibility and have no liability to you or to any third parties, for the quality, accuracy, fairness, timeliness, continued availability or completeness of any data or calculations contained and/or referred to in this communication (or whether any information has been omitted from the Presentation) or any other information relating to the Company, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available nor for any special, direct, indirect, incidental or consequential loss or damage which may be sustained because of the use of the information contained and/or referred to in this communication or otherwise arising in connection with the information contained and/or referred to in this communication, provided that this exclusion of liability shall not exclude or limit any liability under any law or regulation applicable to the Company or the Banks that may not be excluded or restricted.

All information in this Presentation is current at the time of communication but may be subject to change in the future. The Company and the Banks disclaim any obligation to update or revise any statements, in particular forward-looking statements, to reflect future events or developments.

This Presentation does not constitute or form part of, and should not be construed as an offer or invitation or recommendation to, purchase or sell or subscribe for, or as any solicitation of any offer to purchase or subscribe for, any securities of the Company, in any jurisdiction. This Presentation is only directed at qualified investors in certain jurisdictions; in the member states of the European Economic Area, this presentation is directed only at persons who are "qualified investors" within the meaning of Directive 2003/71/EC, as amended. The shares of Allgeier SE are not registered, and will not be registered, pursuant to the regulations of the U.S. Securities Act of 1933 in its currently valid version, and may not be offered or sold in the United States except in certain transactions exempt from, or not subject to, the registration requirements of the Securities Act.

It should be noted that a final decision as to whether, when and the terms on which any offer of securities may or may not take place has not been taken by the Company.

Allgeier is a technology driven company advancing digitalization and providing cutting -edge software solutions in high growth areas such as Digital Transformation, AI, Big Data, IoT, Cloud Services and Next -Gen User Experience

Allgeier at a glance

1) Continuing operations according to IFRS, FY 2017: adjusted figures according to IFRS 15 2) Compound Annual Growth Rate

Allgeier is expanding quickly with continuous double-digit growth rates and business spreading across 28 countries

163 m€

73 locations | 28 countries | 5 continents

Locations: Europe 43, APAC & Middle East 16, Africa 2, North America 12 Staff: Europe >5,500, Americas >200, APAC & Middle East ≈600, India ≈4,500

Founded 1977

10,000+ Staff

1,000+ Customers

€ 687 million

Group revenue in FY 2018

Business Segments

Technology Development Enterprise Services & Consulting Expert Personnel Services

Information Technology Retail/Trade Telecommunications Energy & Utilities Life Sciences & Healthcare

Key industries

Banking & Insurance Public Sector Travel & Logistics Automotive Consumer Goods

Key Facts¹

Business at a glance¹

ENTERPRISE SERVICES

Strategy and process consulting to full implementation, as well as managed services in the context of application management, hosting and cloud services. Scalable, and adaptable software solutions for all industry requirements.

TECHNOLOGY

Tailor made software development and technology services for digital disruption to challengers and industry leaders. Combining design, digital solutions and data to outperform the competition.

EXPERTS

Professional Workforce Solutions delivering personnel services and project solutions for digitalization. One-stop shop offering the ideal combination of flexible personnel and project services.

Highly specialized teams providing cutting-edge technology solutions and services creating competitive advantage for clients

Business Segments

% of gross profit 1)

1) Split among the three core segments

TRUSTED PARTNER

Partnering with and trusted by DAX and Fortune 500 companies as well as mid-sized industry leaders.

SUPPORTED BY EXCELLENT ENGINEERS

Highly experienced engineers working in Europe, India, US, China and Vietnam to meet cultural and geographical needs of clients.

GLOBAL OUTREACH ACROSS 28 COUNTRIES

Capacity to support customers across the globe to fulfill and scale large project requirements.

COLLABORATIVE AND FLEXIBLE APPROACH

Portfolio of best-in-class technology companies that unite to adapt quickly and easily to customers digital transformation needs.

DRIVING TECHNOLOGY SOLUTIONS

Tailor made software development, technology consulting & services and professional workforce solutions driving digital transformation.

Value Proposition

SUCCESFUL M&A TRACK RECORD

Over 13 value creating acquisitions during the recent 8 years.

Business overview

Technology

Tailor made software development and technology services for digital disruption to challengers and industry leaders Application Development & Management

Digital Transformation, Improvement

Software Engineering & Lifecycle

Big Data Analytics/DevOps
Blockchain
Digital Commerce/Portals
UX/Experience Design
Quality Engineering/Testing
IoT/Wearables & Mobility
Application Services
Cloud
Security & Compliance
Innovation Toolkit

Customer Communication Management

Solution Portfolio

56 locations in 27 countries 1

More than 5,500 software developers & UX designers 1

Flexible blended shoring at development sites in EU, India, China & Vietnam

Revenue ¹ ≈ EUR 300m Adj. EBITDA¹ (margin) ≈ EUR 34m (11.5%) 61 % of revenues outside of Germany

Global specialist for digitalization of mission-critical business processes and disruptive technology services

Consulting Services ERP BPM & ECM Security & Compliance Infrastructure, Cloud Migration Team Efficiency, Communication Extended Relationship Management

Managed Services

Application Services Cloud Infrastructure Governance & Orchestration Cruise IT

Data Warehouse

Product Solutions Housekeeping Cockpit, ComplianceNow®, Metasonic® Suite, TMaxSoft Suite, Julia MailOffice®, iTrade®, Syntona logic®

Global SAP Partner

≈ 1,000 consultants in EU¹

Microsoft Gold Partner

Enterprise Services

Strategy and process consulting to full implementation, as well as managed services in the context of application management, hosting and cloud services

Sophisticated SAP & Microsoft consulting and services

Revenue ¹ ≈ EUR 120m Adj. EBITDA¹ (margin) ≈ EUR 11m (9.8%) 40% recurring revenues

Contracting

Placement of freelance experts under a service contract

Project Services

Managed services, fixed price projects and consulting services

Temporary Placement

Placement of permanent experts in the context of temporary employment

Permanent Placement Professional search in the context of recruitment

12 locations 1 for just in time expert services

100,000+ professionals 1 in IT experts pool

3,000+ IT & Engineering Experts 1

Experts

Professional Workforce Solutions delivering personnel services and project solutions for digitalization

Market leading one-stop-shop business for professional workforce solutions and personnel services for digitalization

Workforce Solutions

Revenue ¹ ≈ EUR 280m Adj. EBITDA¹ (margin) ≈ EUR 5m (1.7%)

Global development possibilities with onsite presence and flexible nearshore/offshore capacities

8 EU nearshore sites in Romania, Czech Republic and Poland

6 offshore development centers in India, China and Vietnam

Local and international presence gives Allgeier flexibility for recruiting of resources

Percentage of sales	1 Last 24 months	1 Last 12 months
Biggest single client	3.4%	3.6%
Three biggest clients	8.4%	8.7%
25 biggest clients	32.8%	33.6%

Allgeier has a broad customer base: 50% of sales in recent 24 months with 34 clients 1

Financials

development shows continued double-digit sales growth

Ongoing sales growth in FY 2018 and Q1 2019
CAGR² 2014-2018: 16%
Planning for 2019: Sales growth 15-20% EBITDA margin 6.5-7%

1) Continuing operations according to IFRS, FY 2017: adjusted figures according to IFRS 15 2) Compound Annual Growth Rate 18

1) Continuing operations according to IFRS, FY 2017: adjusted figures according to IFRS 15

Sales¹ (on quarterly basis) in EUR m

Financial development

Continuous increase in gross profit

1) All figures in EUR m, continuing operations according to IFRS, FY 2017: adjusted quarterly figures according to IFRS 15 2) Compound Annual Growth Rate

3) Gross profit margin in percentage of total performance

Gross profit¹in EUR m

Disproportionate increase in gross profit
CAGR² 2014-2018: 21%

Ongoing growth in gross margin in FY 2018 and Q1 2019

All segments show growth in gross profit

1) All figures in EUR m, continuing operations according to IFRS, FY 2017: adjusted quarterly figures according to IFRS 15 2) Compound Annual Growth Rate

3) Gross profit margin in percentage of total performance

FY 2018 adjusted EBITDA² : 40.6 EUR m (+41 %, PY: 28.8 EUR m)
FY 2018 EBITDA: 30.2 EUR m (+16 %, PY: 26.0 EUR m)
CAGR³adjusted EBITDA² : 2014-2018: 12%

Significant earnings growth in 2018 after dip in earnings in 2017

Adjusted EBITDA1,2 in EUR m (margin⁴ )

1) Continuing operations according to IFRS, FY 2017: adjusted quarterly figures according to IFRS 15

2) EBITDA before effects that are classified as extraordinary or relating to other periods in accounting terms 3) Compound Annual Growth Rate 4) Adjusted EBITDA margin in percentage of sales

Continuous adj. EBITDA growth in strategic segments

Adjusted EBITDA¹ in EUR m (margin² )

1) EBITDA before effects that are classified as extraordinary or relating to other periods in accounting terms as reported 2) Adjusted EBITDA margin in percentage of sales 3) Compound Annual Growth Rate

Enterprise Services

Technology

EBITDA adjustments FY 2014 – 2018¹

EUR m	2014	2015	2016	2017	2018
Adjusted EBITDA	25.4	25.6	33.8	28.8	40.6
Loss of the Executive Search of Allgeier Experts Select	0.0	0.0	0.0	0.0	-0.8
Continued pay and severance payments for employees who have left the company	-0.6	-1.0	-1.1	-2.9	-2.8
Expenses from the translation of foreign currencies and hedging transactions	-0.8	-0.4	0.7	2.7	0.0
Losses/Profits from the sale of non-current assets	0.0	0.1	0.0	-0.1	-0.2
Losses from value adjustments on receivables and bad debts	-0.9	-0.7	-1.4	-1.6	-2.3
Financing costs	-0.4	-0.4	-0.6	-0.7	-0.8
Loss from GDE participant programme and joint liability for participant loans	-0.7	-0.7	-0.7	-0.7	-0.6
Expenses from acquisition activities	-0.3	-0.6	-0.2	-0.4	-1.6
Income from purchase price adjustments (net)	0.0	-0.1	-0.3	1.0	0.4
Expenses from share option rights issued	0.0	-0.1	0.0	-0.1	-0.4
Other non-period income (net)	1.5	0.8	1.4	1.2	0.4
Other extraordinary expenses/profits (net)	0.5	0.9	-0.1	-1.2	-1.5
Reported EBITDA	21.0	23.5	31.5	26.0	30.2