Brockhaus Technologies AG

Investor Presentation • May 15, 2023

Elevating Champions

QUARTERLY STATEMENT Q1 2023 EARNINGS CALL

May 15, 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 the "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 persistent supply bottlenecks, the ongoing energy crisis, turbulences in the 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 forward-looking 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 performance indicators, please refer to Note 6 of BKHT's consolidated financial statements for 2022.

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 Q1 2023

Key highlights

Significant top-line growth across all business segments in Q1 2023 and over proportional margin development

Group forecast 2023 with revenue between € 165 – 175 million and an adj. EBITDA margin of 35% confirmed

Very solid balance sheet composition with cash and cash equivalents of €65.4 million as per end of March 2023 and a net leverage ratio of 0.7x adj. EBITDA (LTM)

Note: For definitions and detailed explanations of the alternative performance measures, please refer to page 87 onwards of our 2022 Annual Report.

Revenue by quarter

Note: In 2023 revenue is not adjusted for reduced result from value step up anymore. 2022 figures are adjusted accordingly.

Note: In 2023 revenue is not adjusted for reduced result from value step up anymore. 2022 figures are adjusted accordingly.

		Reportable Segments
[€ thousand]	Financial Technologies		Security Technologies		Central Functions and Consolidation		BKHT Group
	Q1-23	Q1-22	Q1-23	Q1-22	Q1-23	Q1-22	Q1-23	Q1-22
Revenue	25,145	16,512	8,293	7,245	1	1	33,439	23,758
Revenue Growth	52.3%		14.5%				40.7%
Gross Profit	14,778	8,220	6,245	5,707	89	46	21,112	13,973
Gross Profit Margin	58.8%	49.8%	75.3%	78.8%			63.1%	58.8%
Adjusted EBITDA	9,354	4,926	1,603	2,081	(1,333)	(1,342)	9,624	5,665
Adjusted EBITDA Margin	37.2%	29.8%	19.3%	28.7%			28.8%	23.8%
Adjusted EBIT	8,737	4,580	1,267	1,811	(1,364)	(1,372)	8,640	5,019
Adjusted EBIT Margin	34.7%	27.7%	15.3%	25.0%			25.8%	21.1%

Total cash and cash equivalents of €65.4 million as per end of March 2023

Very solid balance sheet composition

Net debt calculation Highlights

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

Very conservative leverage ratio of ~0.7x adj. EBITDA (LTM) (target value of ~2.5x)

High balance sheet quality underlining resilience of our business

Bikeleasing - Operational deep dive

Record Q1 for Bikeleasing in terms of all financial and operating KPIs

Margin expansion by >7% y-o-y due to the avoidance of on-balance sheet refinancing

# of facilitated bikes in Q1 grew by +41% to ~28k

# of corporate customers grew to ~47k with ~2.6 million employees

Cash of €17.7m distorted by a high refinancing backlog of approx. €14m per end of March 31, as usual for Q1, but because of highly increasing business development significantly above prior year

IHSE - Operational deep dive

+14.5% revenue growth in Q1 2023 especially due to a continued strong rebound in Americas

EBITDA margin below the previous year period due to increased expenses for trade shows / travel as well as a group-wide IT project (accounted for accordingly in our forecast FY2023)

Largest customer order in the company's history received in April by a national air traffic agency

M&A activity: Selected deal flow

Group Forecast FY 2023

Revenue

€165m - €175m

(2022: €143m | +16 to +23%)

Adj. EBITDA margin

35%

(2022: 33,2%)

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

Corresponding adj. EBITDA

€58m - €61m

(2022: €50m | +16 to +23%)

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