Nexi

Investor Presentation • Nov 5, 2025

Disclaimer

• This Presentation may contain written and oral "forward-looking statements", which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of Nexi Group (the "Company"). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision.
• The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the "Other Countries"), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries.
• Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Enrico Marchini, in his capacity as manager responsible for the preparation of the Company's financial reports declares that the accounting information contained in this Presentation reflects Nexi Group's documented results, financial accounts and accounting records.
• Neither the Company nor any of its representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.

Capital Markets Day scheduled for March 5th 2026

Key messages

Continued delivery of profitable growth

• Revenues growing at +2.8% vs 9M24 and at +1.8% vs 3Q24. Underlying growth¹ at +6% y/y both in 9M25 and 3Q25
• Merchant Solutions revenues at +2.7% vs 9M24 and at +0.6% vs 3Q24. Continued underlying growth¹ at +5% y/y both in 9M25 and 3Q25
• EBITDA growing at +3.5% vs 9M24 with ~35 bps EBITDA margin expansion y/y, affected in the quarter by revenue mix and some operating costs phasing

Shaping Nexi for future profitable growth

• Continued progress on partnership-based integrated payments strategy execution: 50+ new ISVs partnerships signed in 9M25
• Strong performance of Italian complementary SME sales channels, representing ~26% of new sales in 9M25
• Merchant Solutions in Germany growing double-digit y/y in 9M25, accelerating in 3Q25, supported by customer base and market share growth

Creating value for our Shareholders

• Returned 1.1 €B of capital to Shareholders in 2024-2025, while becoming Investment Grade issuer at the same time
• Net financial debt / EBITDA down at 2.6x as of September 2025 notwithstanding the ~600 €M shareholder remuneration in 2025 (+20% increase vs 2024)

2025 guidance confirmed

• Revenues: Low-to-mid single digit y/y growth
• EBITDA margin: At least 50 bps expansion y/y
• Excess cash: at least 800 €M Confirmed positive EBITDA margin

expansion; magnitude will depend on volume and revenue mix in 4Q25

This content is classified as Internal

Merchant Solutions: robust underlying revenue growth, with expected discontinuities impacting the performance

• ▪Continued International schemes volume growth across geographies, with softer summer dynamics in Southern Europe and impacts by known banks lost in Italy due to M&A
• ▪Revenues in 3Q25 impacted by volume dynamics and unfavourable volume mix and pricing in Ecommerce in Poland. Strong doubledigit performance in Germany
• ▪Robust growth of SMEs customer base³ in Germany and Poland; continued y/y customer base growth in E-commerce across geographies
• ▪Continued contribution to revenue growth from VAS upselling
• ▪Continued progress on partnershipbased integrated payments strategy execution: 50+ new ISVs partnerships signed in 9M25

Issuing Solutions: growth supported by International schemes volumes, success of more valuable propositions and some phasing effects

• Sustained International schemes number and value of transactions growth in 9M25
• 3Q25 and 9M25 revenue dynamics supported by some phasing effects, expected to revert in 4Q25
• Continued success of international debit in Italy and up-selling/cross-selling of VAS

Digital Banking Solutions: quarterly performance affected by projects phasing, returning positive in FY25

• Y/Y revenue growth affected by different projects phasing; expected to revert in 4Q25 and FY25
• Continued volume growth and initiatives contribution, especially in Instant Payments, network and ACH services
• Launch of Instant Payments Verification-of-Payee both for EBA Clearing in Europe and CBI in Italy

Note: (1) Contribution to 9M Group Revenues.

Continued revenue growth across geographies in 9M25

• Italy: 9M25 revenue growth supported by International schemes volume growth and Issuing Solutions performance despite impacts from known banks lost due to M&A
• Nordics: 9M25 revenue performance supported by strong E-commerce growth, VAS up-selling (e.g. DCC) and value management initiatives
• DACH: accelerated y/y revenue growth in Merchant Solutions in Germany (+10% y/y in 9M25). Total revenues affected by the previously disclosed Issuing Solutions contract discontinuity
• CSEE: 9M25 revenue performance affected by softer summer volumes in Southern Europe and unfavourable volume mix and pricing in E-commerce in Poland, despite continued market share growth and strong in-store SME performance in the Country

Strong cost performance thanks to operating leverage, cost control and personnel efficiency initiatives from 2Q24. 3Q25 impacted by some negative phasing effects

Key Highlights

• Continued organizational efficiency measures and operating leverage limiting cost growth notwithstanding volume, business growth and inflationary pressure:
• o Personnel costs benefitting from the efficiency measures put in place last year starting from 2Q24, despite inflationary pressure
• o Operating costs impacted by volume, business growth, inflationary pressure and some negative phasing effects, expected to revert in 4Q25

2025 Guidance confirmed

Net Revenues

Low-to-mid single digit y/y growth

EBITDA margin

At least 50 bps expansion y/y

Excess cash generated²

At least 800 €M

Underlying¹growth acceleration y/y

Confirmed positive EBITDA margin expansion; magnitude will depend on volume and revenue mix in 4Q25

Capital Markets Day scheduled for March 5th 2026

Key messages

Continued delivery of profitable growth

• Revenues growing at +2.8% vs 9M24 and at +1.8% vs 3Q24. Underlying growth¹ at +6% y/y both in 9M25 and 3Q25
• Merchant Solutions revenues at +2.7% vs 9M24 and at +0.6% vs 3Q24. Continued underlying growth¹ at +5% y/y both in 9M25 and 3Q25
• EBITDA growing at +3.5% vs 9M24 with ~35 bps EBITDA margin expansion y/y, affected in the quarter by revenue mix and some operating costs phasing

Shaping Nexi for future profitable growth

• Continued progress on partnership-based integrated payments strategy execution: 50+ new ISVs partnerships signed in 9M25
• Strong performance of Italian complementary SME sales channels, representing ~26% of new sales in 9M25
• Merchant Solutions in Germany growing double-digit y/y in 9M25, accelerating in 3Q25, supported by customer base and market share growth

Creating value for our Shareholders

• Returned 1.1 €B of capital to Shareholders in 2024-2025, while becoming Investment Grade issuer at the same time
• Net financial debt / EBITDA down at 2.6x as of September 2025 notwithstanding the ~600 €M shareholder remuneration in 2025 (+20% increase vs 2024)

2025 guidance confirmed

• Revenues: Low-to-mid single digit y/y growth
• EBITDA margin: At least 50 bps expansion y/y
• Excess cash: at least 800 €M Confirmed positive EBITDA margin

expansion; magnitude will depend on volume and revenue mix in 4Q25

Q&A

Annex

Group normalised P&L at constant scope and FX

€M	9M24	9M25	Δ% vs. 9M24	3Q24	3Q25	Δ% vs. 3Q24
Merchant Solutions	1 476 6 ,	1 516 7 ,	+2 7%	534 2	537 2	+0 6%
Solutions Issuing	817 5	851 6	2% +4	278 5	296 8	6% +6
Digital Banking Solutions	276 3	274 4	-0 7%	98 0	93 2	-4 8%
Net revenues	2 570 4 ,	2 642 7 ,	+2 8%	910 7	927 3	+1 8%
Personnel Costs	(563 9)	(545 9)	-3 2%	(169 2)	(168 8)	-0 2%
Operating Costs	(658 1)	(701 2)	5% +6	(219 5)	(232 0)	7% +5
Total Costs	(1 0) 222 ,	(1 0) 247 ,	+2 0%	(388 7)	(400 8)	+3 1%
EBITDA	1 348 4 ,	1 395 7 ,	+3 5%	522 0	526 4	+0 9%

Revenues gross of scheme fees, shifted to Opex

€M	9M25	Δ% vs. 9M24	3Q25	Δ% vs. 3Q24
Merchant Solutions	2 002 0 ,	+4 0%	729 0	+2 4%
Solutions Issuing	898 4	1% +5	314 7	6% +7
Digital Banking Solutions	274 4	7% -0	93 2	8% -4
Operating revenue	3 9 174 ,	+3 9%	137 0 1 ,	+3 2%
Personnel Costs	(545 9)	-3 2%	(168 8)	-0 2%
Operating Costs	(1 3) 233 ,	9% +7	(441 7)	5% +7
Total Costs	(1 2) 779 ,	2% +4	(610 5)	2% +5
EBITDA	395 1 7 ,	+3 5%	526 4	+0 9%

Net Financial Debt / EBITDA at 2.6x, having already returned 1.1 €B to shareholders

Net Financial Debt (€M)

	Sept 24	Dec 24	Mar 25	Jun 25	Sept 25
Gross Financial Debt	6,964	6,450	6,612	7,108	6,937
Cash	1,673	1,405	1,733	1,922	1,799
Cash Equivalents 1	68	74	89	89	98
Net Financial Debt	5,223	4,971	4,790	5,097	5,040

Key Highlights

• Remaining ~140 €M of 2025 debt maturities to be repaid in December with available cash
• ~300 €M share buy-back program completed in September
• Weighted average debt maturity of ~3.2 years, while average pre-tax cash cost of debt declined slightly to ~2.35%³ (77% fixed-rate)

Debt maturities as of 9M25

Nexi Group Debt Maturity Schedule¹ (€M)

Investor Relations

investor.relations@nexigroup.com

Stefania Mantegazza

stefania.mantegazza@nexigroup.com