adesso SE

Quarterly Report • May 15, 2023

QUARTERLY STATEMENT Q1 2023

Key Figures

in EUR k	Q1 2023	Q1 2022	Change	in%
Profit situation
Sales revenues	276,242	209,767	66,475	32
domestic	224,522	174,392	50,130	29
foreign	51,720	35,375	16,345	46
EBITDA	17,914	27,879	-9,965	-36
EBITDA margin (in%)	6.5	13.3	-6.8	-51
Consolidated earnings	2,018	12,526	-10,508	-84
Balance sheet
Balace sheet total	668,654	579,298	89,356	15
Equity	216,902	209,566	7,336	4
Equity ratio (in%)	32.4	36.2	-3.7	-10
Liquid assets	46,171	66,948	-20,777	-31
Net cash position	-73,567	-8,186	-65,381	799
Employees
Employees (FTE)	8,513	6,270	2,244	36
domestic	6,967	5,177	1,790	35
foreign	1,546	1,092	454	42
Gross profit/Employees	112	117	-5	-4
Share
Number	6,512,272	6,503,272	9,000	0
Price at the end of the period (in EUR)	147.00	185.60	-38.60	-21
Market capitalisation at the end of the period (in EUR m)	957.3	1,207.0	-249.7	-21
Earnings per share (in EUR)	0.28	1.92	-1.64	-85

3

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.

• 4 Summary of key developments in the reporting period
• 6 Economic report
• 10 Forecast report
• 11 Subsequent events
• 12 Consolidated Balance Sheet
• 14 Consolidated Income Statement
• 14 Consolidated Statement of Comprehensive Income
• 15 Consolidated Cash Flow Statement
• 16 Segment informationen
• 18 Financial calendar
• 19 Imprint

SUMMARY OF KEY DEVELOPMENTS IN THE REPORTING PERIOD

Strong growth in the first quarter of 2023, coupled with reduced profitability due to high rates of sick leave and growth-related delays in capacity utilisation

Executive Board statement on the reporting period

"adesso succeeded in continuing the fast pace of growth seen in financial year 2022 in the first quarter of the new year, increasing sales by 32% and growing its workforce by36 %. Recruiting activities have been driven forward to secure additional projects and attract new talent on the fiercely competitive labour market. Associated effects with a temporary negative effect on capacity utilisation caused personnel costs to rise by a disproportionately high amount in the first quarter of the year. Accordingly, the operating result (EBITDA) was weaker than the first quarter of the previous year, which was buoyed by higher licence sales and other operating income, among other factors. While earnings performance may have fallen short of expectations in the first quarter, the outlook for the remainder of the financial year remains positive. We expect the rate of sick leave to normalise, as well as an increase in capacity utilisation in light of the measures taken. Order backlog is at a record high, with additional license sales on the horizon, especially in the second half of the year. Based on that, we reaffirm the original forecast for 2023 as a whole."

ECONOMIC REPORT

Business performance

In the first quarter of 2023, adesso SE increased its sales revenues by 32 % to a new record level for a quarter of EUR 276.2 million. Roughly 29 percentage points of that growth were generated organically, with 3 percentage points attributable to inorganic factors. The growth was achieved despite below-average project workload and an above-average rate of sick leave, thanks to the increase in staff numbers and higher prices in relation to average daily rates. Coupled with record order backlog and sustained high demand for adesso services, the number of employees in terms of full-time equivalents (FTEs) rose by 2,244, or 36 %, year on year to stand at 8,513 as at the reporting date. The average number of employees increased even more sharply in the first three months, by 38 %. Due to further internationalisation, the number of employees outside Germany grew by 42 % to 1,546 full-time equivalents.

Sales growth in the German market amounted to 29 %. Outside Germany, revenues increased by 46 %. The established adesso companies in Switzerland, Austria and Turkey contributed to this rise, as did the most recently acquired companies in Italy and Austria. At 81 %, the share of total sales revenues generated in Germany was down slightly year on year (83 %). Dynamic sales growth in the double-digit percentage range was achieved in almost all core industries served by adesso. Only in the "Automotive" industry did the percentage increase remain in single figures. In absolute terms, the public administration and manufacturing industry sectors posted particularly strong growth, with gains of more than EUR 10 million, corresponding to growth rates of 34 % and 68 %, respectively. Insurance and banking, two established and high-revenue core industries, also recorded double-digit growth rates of 27 % and 14 %, respectively. Growth rates of more than 50 % were achieved in comparatively new industries that account for a relatively small absolute share of sales.

Position

Earnings situation

The year-on-year development of the operating result (EBITDA) fell short of expectations in the first quarter, with a decline of 36 % to EUR 17.9 million (previous year: EUR 27.9 million). The higher sales revenues were almost completely offset by the disproportionate rise in personnel expenses in direct comparison and the similarly sharp increase in the cost of materials. As a result, the operating business had no significant positive effect on EBITDA. Rates of sick leave were well above-average in the final quarter of 2022. Although they fell in the first quarter of 2023, they still remained higher than average. Personnel expenses, which rose on account of inflation and constitute the largest cost item, play a key role in earnings performance. Given the right capacity utilisation, however, their impact is balanced out in isolation by price increases related to average daily rates. In terms of the average number of employees on the payroll in the reporting period (full-time equivalents), personnel costs rose by a comparatively moderate figure of 3.4 % year on year. Meanwhile, a disproportionately low project workload on account of strong growth, as well as isolated project developments, meant that the project margin did not develop as expected in the first quarter. Details of the year-on-year decrease in operating income and the increase in operating expenses are presented below.

Key figures profit situation

in EUR k	Q1 2023	Q1 2022	Change	Change in%
Sales	276,242	209,767	66,475	32
EBITDA	17,914	27,879	-9,965	-36
EBITDA margin (in%)	6.5%	13.3%	-6.8%	-51
Consolidated earnings	2,018	12,526	-10,508	-84
Earnings per share	€ 0.28	€ 1.92	€ -1.64	-85

Notes on individual items in the income statement

Other operating income fell by 63 % year on year, from EUR 7.1 million to EUR 2.9 million, mainly due to income in connection with (successive) company acquisitions (EUR 0.5 million; previous year: EUR 4.6 million). Without these effects, other operating income would have stood at EUR 2.4 million (previous year: EUR 2.6 million).

The cost of materials primarily includes expenses for services purchased externally within the scope of customer projects. The cost of materials kept pace with the increase in sales, rising by 30 % to EUR 39.5 million to stand at 14 % of sales. Due to fast growth, adesso continues to make extensive use of external services. Personnel costs climbed by 42 %, from EUR 135.2 million to EUR 192.4 million, outpacing the increase in sales revenues and the number of employees by a substantial margin. Annualised gross profit per employee in the first three months of the year came to EUR 112 thousand (previous year: EUR 117 thousand).

Other operating expenses climbed by 28 %, from EUR 23.5 million to EUR 30.2 million. The first quarter of 2022 was more significantly impacted by the effects of the COVID-19 pandemic than its counterpart in 2023. The diminishing impact of protective pandemic measures primarily affected travel costs, which more than quadrupled from EUR 1.1 million to EUR 4.8 million in the first quarter of 2023. Other cost items such as licence fees and consulting costs, which were closely related to an IT infrastructure conversion project at adesso SE, increased by around EUR 3.9 million. Expenditures in connection with workforce growth – such as recruitment, rents and mobility expenses – also drove the increase in other operating expenses.

Depreciation and amortisation amounted to EUR 12.7 million (previous year: EUR 10.0 million), of which EUR 3.0 million (previous year: EUR 2.1 million) was attributable to depreciation of property, plant and equipment. Of the remaining amortisation of intangible assets, EUR 6.3 million (previous year:

EUR 5.6 million) – or roughly half of total depreciation and amortisation – was attributable to rights of use from leases. No goodwill impairments were recognised.

Income tax expense decreased to EUR 1.7 million (previous year: EUR 4.2 million). Based on pre-tax profit, the tax rate was calculated at 46 % (previous year: 25 %). The rise in the tax rate was primarily caused by constant, non-deductible expenses, which had a greater impact than in the same period of the previous year on account of the year-on-year decrease in earnings before tax.

Employee key figures

The total number of employees at the Group increased by 2,244, or 36 %, year on year (previous year: 1,191, or 23 %). The rise was significantly sharper than in the previous year. adesso had 6,270 active employees as at the previous year's reporting date. That figure stood at 8,513 full-time equivalents at the end of the first quarter of 2023. In the first three months of 2023, the number of employees rose by 457 compared to the figure reported at the end of the previous year. The number of employees outside of Germany increased year on year by a total of 42 % to 1,546 full-time equivalents, outpacing the rise seen within the country's borders.

Employee key figures

	Q1 2023	Q1 2022	Change	Change in%
Employees at the end of the period	9,385	6,957	2,428	35
Full-time equivalents (FTE) at the end of the period	8,513	6,270	2,244	36
Full-time equivalents (FTE) average for the year	8,456	6,145	2,311	38
Sales annualised per average FTE (in EUR k)	131	137	-6	-4
Gross profit annualised per average FTE (in EUR k)	112	117	-5	-4
Personnel costs annualised per average FTE (in EUR k)	91	88	+3	3

Financial position and results of operations

The increase in goodwill and intangible assets is primarily attributable to the acquisition of WebScience S.r.l.

Liquid assets fell by 49 % compared to 31 December 2022 to stand at EUR 46.2 million. The decline matched the typical development in the first quarter, which sees the payment of variable salary components. Due to the repeated rise in net operating assets, cash flow from operating activities amounted to EUR -27.4 million and was virtually on a par with the level recorded in the previous year (EUR -26.2 million). Trade receivables and contract assets increased less sharply than in the previous year, gaining 13 % in total to rise from EUR 226.8 million to EUR 256.1 million. Cash flow from investment activities saw a negative year-on-year impact in the first quarter of 2023, primarily on account of the WebScience S.r.l. acquisition, and amounted to EUR -16.5 million, following EUR -7.9 million in the same period of the previous year. Cash flow from financing activities stood at EUR -0.8 million (previous year: EUR -8.6 million), mainly due to the taking out of new lines of credit from the syndicated loan.

As at 31 March 2023, equity remained virtually unchanged compared to 31 December 2022, gaining just 1 % on account of the low consolidated earnings (EUR 216.9 million; previous year: EUR 215.2 million).

Financial liabilities increased by 12 % compared to 31 December 2022, from EUR 106.5 million to EUR 119.7 million, due to ongoing repayments, new loans being taken out and growth in connection with company acquisitions. Net liquidity came to EUR -73.6 million as at the reporting date (31 December 2022: EUR -15.6 million; 31 March 2022: EUR -8.2 million).

Investments and company acquisitions

Investments in property, plant and equipment amounted to EUR 8.2 million (previous year: EUR 4.6 million). The growth in property, plant and equipment is generally in line with the increase in staff numbers, albeit not in the exact same proportion. Said growth is also subject to a delay. Right now, the expansion of the adesso SE office complex in Dortmund is contributing to the development of property, plant and equipment. There is no investment backlog to report.

adesso acquired all shares in WebScience S.r.l., Milan, Italy, as at 1 January 2023. WebScience specialises in creating bespoke digital solutions, application modernisation and cloud migration. With the acquisition of the shares, 100 % of the shares in WebScience Bulgaria (Sofia, Bulgaria) were also acquired. The business operations acquired are assigned to the IT Services segment.

The consideration for the shares acquired amounts to EUR 14,927 thousand. Of this amount, EUR 11,793 thousand was paid in cash as a fixed purchase price. In addition, an earn-out amounting to a maximum of EUR 3,134 thousand was agreed, which is dependent on the level of sales revenues and EBITDA for financial years 2023 and 2024. adesso estimates that there is a high probability of having to pay the maximum earn-out amount. The sellers will also receive a further sum of EUR 1,567 thousand, provided they remain employed by the company for at least three more years. As payment of this amount is linked to the future work performance of the sellers, it is not part of the consideration according to IFRS. It is to be recognised in the future in profit or loss.

On 22 March 2023, adesso acquired a further 25 % of the shares in urban Energy GmbH, Berlin, Germany, thereby increasing its stake to 50 % urban energy GmbH develops an innovative IoT platform for the smart cities of tomorrow. urban energy's innovative platform tackles one of the main challenges of electromobility: The increasing number of electric vehicles, and the associated charging stations, will lead to higher peak demand for electricity and overloaded power grids. To address that problem, urban energy has developed software that uses artificial intelligence to synchronise energy generation with consumption. The business operations acquired are assigned to the IT Solutions segment.

The consideration for the shares acquired amounts to EUR 1,761 thousand, consisting of a cash payment of EUR 10 thousand and a call/put liability for the acquisition of the remaining 50 % of the shares in the amount of EUR 1,751 thousand. The liability may fall due in early 2026, 2027, 2028 or 2029. At the time of the merger, the carrying amount of the shares in urban energy recognised under the equity method amounted to EUR 170 thousand. Pursuant to IFRS 3, the shares held to date ("old shares") are to be measured at fair value at the time of the merger in the case of a successive share acquisition. This process involves simulating the sale of previously held shares at fair value and then acquiring them again at the same price. The fair value of the shares in urban energy held prior to the merger was EUR 625 thousand, which means that income of EUR 455 thousand is to be recognised from the measurement at fair value and recorded under "Other operating income"

in the consolidated income statement. The fair value of the old shares is not part of the "consideration given", according to the IFRS.

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.

in EUR k	WebScience	urban energy
Assets	21,562	3,627
Non-current assets	14,984	3,502
Goodwill	7,804	2,360
Non-current intangible assets	5,778	984
of which customer contracts	2,536	-
of which order backlog	1,124	-
of which software	2,118	984
Right-of-use assets from leases	624	-
Property, plant and equipment	312	2
Other non-current assets	465	-
Deferred tax assets	-	156
Current assets	6,578	125
Contract assets	968	-
Trade receivables	2,976	11
Current financial assets	674	-
Other current assets	299	31
Cash and cash equivalents	1,661	83
Liabilities	6,635	1,241
Non-current liabilities	2,124	297
Non-current lease liabilities	560	-
Pensions and similar liabilities	868	-
Other non-current liabilities	662	-
Deferred tax liabilities	1,591	297
Current liabilities	2,955	944
Current financial liabilities	10	800
Current lease liabilities	64	-
Trade payables	1,365	19
Other current liabilities	1,516	125

FORECAST REPORT

Anticipated development of adesso SE

While earnings performance may have fallen short of expectations in the first quarter, the outlook for the remainder of the financial year remains positive. The Executive Board expects the rate of sick leave to normalise, as well as an increase in capacity utilisation in light of the measures taken. Order backlog is at a record high. However, the second quarter of the year has the lowest number of working days and will not yet make a significant contribution to improving margins. By contrast, the third quarter of the year has six more working days, while the fourth quarter has two more. Additional licence revenue from the in|sure Ecosphere is anticipated, especially in the second half of the year. On this basis, the Executive Board reaffirms its original full-year guidance for 2023 of more than EUR 1 billion in sales and EBITDA of EUR 100 million to EUR 110 million.

SUBSEQUENT EVENTS

The Supervisory Board of adesso SE has appointed Kristina Gerwert (46) as a new member of the company's Executive Board with effect from 1 July 2023. The long-serving Head of Human Resources will assume responsibility for HR, "Corporate Buildings" and a subsidiary in the insurance segment. Gerwert's Executive Board contract will run until 2027. Kristina Gerwert is an experienced HR manager who has been with adesso for over two decades. She has overseen HR at adesso as Head of Human Resources since 2011.

adesso has acquired a 51 % stake in WEPEX GmbH, Frankfurt, Germany, a management consultancy specialising in the capital markets and securities business. As a result, adesso and WEPEX are intensifying their long-term collaboration in the areas of digital transformation, distributed ledger technology and blockchain, crypto, artificial intelligence and big data analytics in the capital markets and combining their mutually beneficial areas of focus and expertise. The contract was signed on 8 February 2023, with the deal closing on 20 April 2023. The consideration to be paid in cash for the acquired shares amounts to EUR 1,785 thousand. A further variable positive or negative purchase price was agreed, which depends on the EBITDA of the following five financial years. A call/put option was agreed for the acquisition of the outstanding shares. The put option of the sellers is exercisable no earlier than five years after closing, and the call option of adesso is exercisable no earlier than seven years after closing. The exercise price is 5.5 times the pro rata average EBITDA of a two-year period prior to the exercise of the option.

Consolidated Balance Sheet

of adesso Group as of 31.03.1023 according to IFRS

Assets

in EUR k	31.03.2023	31.12.2022
Non-current assets
Goodwill	95,820	85,814
Intangible assets	43,412	38,877
Property, plant and equipment	42,903	37,308
Right-of-use from leasing	138,897	132,007
Shareholdings recognized under the equity method	2,318	2,578
Financial assets	13,643	13,525
Other non-current assets	1,138	718
Deferred tax assets	7,287	5,072
	345,418	315,899
Current assets
Cash and cash equivalents	46,171	90,897
Trade accounts receivable	176,125	172,250
Contract assets	79,992	54,537
Receivables from income taxes	4,004	3,330
Financial assets	232	2,957
Other assets	16,712	15,695
	323,236	339,666
TOTAL ASSETS	668,654	655,565

Equity and liabilities

in EUR k	31.03.2023	31.12.2022
Equity
Subscribed capital	6,512	6,512
Capital reserve	50,288	49,867
Other retained earnings	157,407	155,614
Accumulated other comprehensive income	-2,431	-1,959
Non-controlling interests	5,126	5,147
	216,902	215,181
Non-current liabilities
Financial liabilities	49,321	47,502
Pensions and similar liabilities	3,678	2,816
Provisions	4,416	4,318
Leasing liabilities	117,745	114,408
Deferred tax liabilities	13,069	12,044
	188,229	181,088
Current liabilities
Financial liabilities	70,417	58,993
Trade accounts payable	32,365	42,333
Contract liabilities	22,379	18,349
Leasing liabilities	26,502	23,047
Liabilities from income taxes	5,647	4,937
Provisions	7,170	7,260
Other liabilities	99,043	104,377
	263,523	259,296
TOTAL EQUITY AND LIABILITIES	668,654	655,565

Consolidated Income Statement

of adesso Group as of 31.03.1023 according to IFRS

in EUR k	Q1 2023	Q1 2022
Sales revenues	276,242	209,767
Other operating income	2,934	7,123
Own work capitalised	819	200
TOTAL INCOME	279,995	217,090
Costs of material	-39,525	-30,442
Personnel costs	-192,375	-135,223
Result from the derecognition of financial assets	-48	0
Result from the change in impairment on financial assets measured at amortised cost	-200	-462
Other operating expenses	-29,933	-23,084
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION (EBITDA)	17,914	27,879
Depreciation on property, plant and equipment	-2,965	-2,087
Amortisation on right-of-use from leasing	-6,298	-5,551
Depreciation and amortisation resulting from acquisitions	-2,216	-1,378
Amortisation on other intangible assets	-1,252	-937
EARNINGS BEFORE INTEREST AND TAXES (EBIT)	5,183	17,926
Earnings from shares recognized under the equity method	-90	-261
Interest income and similar income	452	13
Interest expenses and similar expenses	-1,842	-948
EARNINGS BEFORE TAXES (EBT)	3,703	16,730
Income taxes	-1,685	-4,204
CONSOLIDATED EARNINGS	2,018	12,526
of which attributable to shareholders of adesso SE	1,793	12,463
of which attributable to non-controlling interests	225	63
Number of shares at the end of the period	6,512,272	6,503,272
UNDILUTED EARNINGS PER SHARE (IN EUR)	0.28	1.92
DILUTED EARNINGS PER SHARE (IN EUR)	0.27	1.91

Consolidated Statement of Comprehensive Income

of adesso Group as of 31.03.1023 according to IFRS

in EUR k	Q1 2023	Q1 2022
CONSOLIDATED EARNINGS	2,018	12,526
Other comprehensive income, subsequently transferred to the income statement
Currency translation differences	-428	-163
OTHER COMPREHENSIVE INCOME	-428	-163
TOTAL INCOME	1,590	12,363
of which attributable to shareholders of adesso SE	1,321	12,303
of which attributable to non-controlling interests	269	60

Consolidated Cash Flow Statement

of adesso Group as of 31.03.1023 according to IFRS

in EUR k	Q1 2023	Q1 2022
EARNINGS BEFORE TAX	3,703	16,730
Income from financing activities	1,390	935
Scheduled depreciation and amortization on property, plant and equipment and intangible assets	12,731	9,953
Result from shares recognized under the equity method	90	261
Non-cash income (-) / expenses (+)	737	-4,192
Change in pension provisions	-8	55
Change in other provisions	-99	-1,053
Tax payments	-4,837	-4,098
Change to net operating assets	-41,083	-44,761
CASH FLOW FROM OPERATING ACTIVITIES	-27,376	-26,170
Divestments of financial assets	3,561	1,008
Investments in shares recognised at equity	0	-14
Investments in property, plant and equipment	-8,245	-4,573
Investments in intangible assets	-1,054	-354
Investments in financial assets	-714	-4,216
Acquisition of subsidiaries (less cash and cash equivalents acquired)	-10,059	299
Dividends received	0	141
Interest received	21	13
CASH FLOW FROM INVESTMENT ACTIVITIES	-16,490	-7,696
New liabilities to banks	10,048	36
Repayment of financial liabilities	-3,199	-3,364
Repayment of leasing liabilities	-6,218	-4,732
Interest paid	-1,450	-741
CASH FLOW FROM FINANCING ACTIVITIES	-819	-8,801
"Changes in value or currency difference-related changes in cash and cash equivalents"	-41	-307
CHANGE IN CASH AND CASH EQUIVALENTS	-44,726	-42,974
Cash and cash equivalents at the beginning of the period	90,897	109,922
Cash and cash equivalents at the end of the period	46,171	66,948

Segment information

Q1 2023 (in EUR k)	IT Services	IT Solutions	Reconciliation local laws/IFRS	Consolidation/ other	Group
Revenues with external customers Services Licences	252,310 1,293	17,321 2,174	4,232 -1,198	111 -	273,974 2,268
Revenues with other operating segments	43,781	8,314	-	-52,096	0
TOTAL SALES	297,384	27,809	3,034	-51,985	276,242
Other operating income	6,286	847	-1,671	-2,527	2,934
Changes in inventories	4,521	1,786	-6,307	-	0
Own work capitalised	39	497	-	283	819
Cost of materials	-82,338	-7,847	1,200	49,460	-39,525
Personnel costs	-171,041	-21,082	-413	161	-192,375
Other operating expenses	-36,372	-3,917	5,660	4,448	-30,180
EBITDA	18,478	-1,908	1,503	-160	17,914
Depreciation and amortisation	-4,978	-498	-7,085	-171	-12,731
Amortisation of goodwill	-317	-81	398	-	0
EBIT	13,184	-2,486	-5,184	-331	5,183
Income from financing and investment activities	672	-151	-659	-1,342	-1,480
EBT	13,856	-2,638	-5,843	-1,673	3,703
Amortisation of goodwill	-317	-81	398	-	0
EBT before goodwill amortisation	13,539	-2,718	-5,445	-1,673	3,703

Q1 2022 (in EUR k)	IT Services	IT Solutions	Reconciliation local laws/IFRS	Consolidation/ 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
Amortisation of goodwill	-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
Amortisation of goodwill	879	81	-960	-	-
EBT before goodwill amortisation	16,129	533	1,927	-1,859	16,730

FINANCIAL CALENDAR

Termin	Event
2023-01-09	26th ODDO BHF Forum, Lyon (virtual)
2023-01-30	Roadshow Jefferies (virtual)
2023-02-27/28	Roadshow (ICF BANK), Luxembourg
2023-03-31	Publication of the Annual /Consolidated Financial Statements 2022, Annual Press /Analyst Conference, Dortmund
2023-04-25	Roadshow (Berenberg), London
2023-05-15	Publication of the Quarterly Statement Q1 2023
2023-05-16	Spring Conference 2023, Frankfurt /Main
2023-06-01	Annual General Meeting, Dortmund
2023-08-14	Publication of the Half-Year Report 2023
2023-09-18	Berenberg and Goldman Sachs Twelfth German Corporate Conference, Munich
2023-11-14	Publication of Quarterly Statement Q3 2023
2023-11-27 to 29	German Equity Forum 2023, 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, Marcus Lazzari Design: www.adlips.design Typesetting: www.roeske-lazzari.de

IR CONTACT

Martin Möllmann Head of 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 2022 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 Germany T +49 231 7000-7000 F +49 231 7000-1000 ir@adesso.de www.adesso-group.de/en/ www.adesso.de/en/