Brockhaus Technologies AG

Investor Presentation • Nov 14, 2023

Elevating Champions

QUARTERLY STATEMENT 9M 2023 EARNINGS CALL

November 14, 2023

Disclaimer

This document is being presented solely for informational purposes and should not be treated as giving investment advice and does not constitute or form part of, and should not be construed as, an offer to buy or subscribe, nor an invitation to submit an offer to buy or subscribe any of Brockhaus Technologies AG's ("BKHT") securities. It is not intended to be (and should not be used as) the sole basis of any analysis or other evaluation. All and any evaluations or assessments stated herein represent our personal opinions. We advise you that some of the information is based on statements by third persons, and that no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this information or opinions contained herein.

This presentation contains certain forward-looking statements relating to the business, financial performance and results of BKHT and its (future) subsidiaries (collectively "Brockhaus Technologies") and/ or the industries in which Brockhaus Technologies operates. Forward looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this presentation, including potential transactions, assumptions, opinions and views of Brockhaus Technologies or cited from third party sources, are solely opinions and forecasts which are uncertain and subject to risks. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in general economic conditions, in particular economic conditions in the markets in which Brockhaus Technologies operates, changes affecting interest rate levels, changes in competition levels, changes in laws and regulations, environmental damages, the potential impact of legal proceedings and actions and Brockhaus Technologies' ability to achieve synergies from acquisitions. In general, the further development and impact of the Russian invasion of Ukraine, the conflict in the Middle-East, the persistent supply bottlenecks, the ongoing energy crisis, a tense banking sector, inflation, and the significant rise in interest rates is uncertain. Brockhaus Technologies does not guarantee that the assumptions underlying the forward-looking statements in this presentation are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or any obligation to update the statements in this presentation to reflect subsequent events. The forwardlooking statements in this presentation are made only as of the date hereof. Neither the delivery of this presentation nor any further discussions of Brockhaus Technologies with any of the recipients thereof shall, under any circumstances, create any implication that there has been no change in the affairs of Brockhaus Technologies since such date. Consequently, Brockhaus Technologies does not undertake any obligation to review, update or confirm recipients' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of the presentation.

For information on alternative performance measures, please refer to Note 6 of BKHT's Consolidated Financial Statements for 2022 as well as Note 3 of our Interim Consolidated Financial Statements for H1 2023.

Neither Brockhaus Technologies, nor any of its respective board members, directors, officers, employees, affiliates, agents or advisers nor any other person shall assume any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or the statements contained herein as to unverified third person statements, any statements of future expectations and other forward-looking statements, or the fairness, accuracy, completeness or correctness of statements contained herein, or otherwise arising in connection with this presentation.

This presentation is made available on the express understanding that it does not contain all information that may be required to evaluate the purchase of or investment in any securities of BKHT. This presentation is accordingly not intended to form the basis of any investment decision and does not constitute or contain (express or implied) any recommendation to do so.

Summary 9M 2023PF

Key highlights

Record 9M with significant and highly profitable top-line growth across all business segments

Forecast 2023 now expected at the upper end of the revenue range of €165 – 175 million with an adj. EBITDA margin of 35%

Further deleveraging to 0.3x adj. EBITDA (LTM) despite the acquisition of two sales agents of Bikeleasing

Note: For definitions and detailed explanations of the alternative performance measures, please refer to page 85 onwards of our 2022 Annual Report and page 14 onwards of our Quarterly Statement 9M 2023

9M 2022 9M 2023

Revenue by quarter

(€ million) IHSE Bikeleasing Prior-year period Note: In 2023 revenue is not adjusted for reduced result from value step up anymore. 2022 figures are adjusted accordingly.

Revenue by region

(€ million) IHSE Bikeleasing Prior-year period Note: In 2023 revenue is not adjusted for reduced result from value step up anymore. 2022 figures are adjusted accordingly.

KPIs by segment (pro forma)

(€ thousand)	Financial Technologies		Security Technologies		Central Functions and Consolidation		BKHT Group
	Pro forma 9M 2023	9M 2022	9M 2023	9M 2022	9M 2023	9M 2022	Pro forma 9M 2023	9M 2022
Revenue	113,185	84,967	29,500	24,096	(1)	2	142,684	109,065
Revenue growth	33.2%		22.4%		-		30.8%
Gross Profit	72,973	53,173	22,024	17,709	265	180	95,262	71,062
Gross Profit Margin	64.5%	62.6%	74.7%	73.5%			66.8%	65.2%
Adjusted EBITDA	51,832	39,148	7,787	5,395	(4,474)	(3,739)	55,145	40,804
Adjusted EBITDA Margin	45.8%	46.1%	26.4%	22.4%			38.6%	37.4%
Adjusted EBIT	49,708	37,842	6,743	4,549	(4,564)	(3,834)	51,887	38,557
Adjusted EBIT Margin	43.9%	44.5%	22.9%	18.9%			36.4%	35.4%

Total cash and cash equivalents of €74.5 million as per end of September 2023

Continued deleveraging based on cash generation

Available financing capacity driven by significant deleveraging allows for future growth through new acquisitions

Further reduction of the already conservative net leverage ratio of ~0.3x adj. EBITDA (LTM) (target value of ~2.5x)

High balance sheet quality underlining resilience of our business

Bikeleasing - Operational deep dive

Record 9M for Bikeleasing in terms of financial and operating KPIs

# of facilitated bikes in 9M 2023 grew by +32% to ~131,000

# of corporate customers grew to ~56k with ~3.2 million employees

Cash of ~€32m despite purchase of two sales agencies for €8.5m in Q2 2023

Voluntary full repayment of the senior loan in October (2 out of 3 acquisition loans thus repaid within 23 months post acquisition)

IHSE - Operational deep dive

Further acceleration of revenue growth to +22% in 9M 2023 especially due to a continued strong development in Americas

EBITDA margin of ~26% significantly above previous year's level (~22%) despite planned expenditures for trade shows as well as a group-wide IT project in Q1 2023

Order backlog remains at a high level of ~€10m despite strong conversion into revenue, fueling optimism for end of the year and the coming months

Group Forecast FY 2023

Revenue €165m - €175m

(2022: €143m | +16 to +23%)

9M Update: Upper end of the range expected

Adj. EBITDA margin

35%

(2022: 33,2%)

Well on track building one of Germany's leading technology groups

Corresponding adj. EBITDA

€58m - €61m

(2022: €47m | +22 to +29%)

Happy to answer your questions

BROCKHAUS TECHNOLOGIES AG

Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main, Germany

Phone: +49 69 20 43 40 90 Fax: +49 69 20 43 40 971 E-Mail: ir@brockhaus-technologies.com Web: www.brockhaus-technologies.com

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Executive Board: Marco Brockhaus (Chair), Dr. Marcel Wilhelm Chair of the Supervisory Board: Dr. Othmar Belker Registry Court: Frankfurt am Main Local Court Register Number: HRB 109637