NETGEM

Earnings Release • Jan 22, 2021

Press release

2020 turnover and net revenue: Confirmed rebond in net revenue

Paris, January 22, 2021,

The NETGEM Group continued in 2020 on its growth path, despite the global health crisis. The rebound is based on the confirmed appeal of very high speed internet access, and the Group's business model, based on recurring revenues which now represent more than 90% of activity. The growth in consolidated net revenue is confirmed.

NETGEM's activity was marked in 2020 by the commercial momentum of its activity with operators (B2B and B2B2C) and with its direct customers (B2C):

• The continued growth in Finland of the new premium 4K offer of the Fiber operator Elisa;
• the positive dynamics of the very high speed internet access market in Great Britain with in particular the launch of new operator customers; the last two to date are Community Fiber in the greater London area and POP Telecom at the national level in January 2021;
• In addition to the growth of the VOD activity, driven by confinements, the French market has seen the launch of a new offer integrating a SuperWifi option based on the Mesh technology developed by the Group.

For Mathias Hautefort, CEO of NETGEM, "The second half of 2020 confirms the group's rebound, as announced with the half-year results. Our technological platform in SaaS mode, our know-how and the Content-as-a-service model demonstrate the economic robustness and growth potential of the group, with expanding offers"

Groupe Netgem	Q4 2020	Q3 2020	Q4 2019	Var. T4 / T3	Var. Q4 / Q4	2020	2019	Change
Turnover	8.3	6.6	6.4	+ 26%	+ 30%	30.3	25.3	+ 20%
Net revenue	7.3	6.4	3.6	+ 15%	+103 %	26.8	13.5	+ 99%

Turnover and net revenue (*) (in millions of euros, IFRS, unaudited)

(*) defined as turnover less the cost of equipment sold.

Given the change of perimeter effect, the Net revenue for 2020 grewn by 99% compared to 2019 ; the consolidation of Vitis brought € 16.0m out of the consolidated Group total of € 26.8m.

In the second half of 2020, net income is up 5% compared to the previous half.

Over the year 2021, the Group estimates that this growth should be confirmed from half-year to half-year, both in terms of net revenue and gross margin, thanks to the

expansion of the total subscribers base addressed by the Group's offers in its three main markets. The tight management of expenses, initiated several years ago, will continue to bear fruit with a significant improvement in EBITDA.

The group's gross cash position amounted to € 10.2 million at the end of December.

Euronext Growth transfer

Following the decision of the general meeting of October 20, 2020 authorizing the transfer of the listing to Euronext Growth, it is expected that the conditions necessary for this transfer will be met in the first quarter of 2021.

Financial communications calendar

• Turnover and net revenue Q1 2021 April 21, 2021, before market
• Annual General Meeting May 26, 2021
• Turnover and net revenue Q3 2021 October 20, 2021, before market

Contacts

Investor and Analyst Relations Bertrand Soleil bertrand.soleil@double-digit.com Tel: +33 (0) 6.23.31.06.53

● Results 2020 March 19, 2021, before market ● Results S1 2021 July 30, 2021, before market

Press Relations Patricia Ouaki patricia.ouaki@forcemedia. fr Tel: +33 (0) 1.44.40.24.01

About Netgem

Netgem is an independent provider of ultra-broadband consumer services. The customers managed by the Group are located in Europe, mainly in France, Great Britain and Finland. They are managed for Netgem's own account (in France) and for the account of third-party operators. In France, the Group operates in rural areas in conjunction with infrastructure investments underwritten by public authorities aiming to reduce the digital divide and improve regional planning.

The Group stands out thanks to its end-to-end technological mastery of its digital TV, video and music streaming offer with a unified and unique experience on TV, mobile and voice control, including the biggest brands of local and global content.

Netgem is listed on Euronext Paris Compartment C

(ISIN: FR0004154060, Reuters: ETGM.PA, Bloomberg: NTG: FP) www.netgem.com