New Work SE

Investor Presentation • May 4, 2023

RESULTS PRESENTATION

Q1 2023

HAMBURG, MAY 4, 2023

DISCI AIMER

This presertation was produced in Nay 2020 yr 10:50 as an information source for potential business artners and is strictly confider.il. It has been made are loved on your over information and may not be copied distibled or cherwise made are any any recipient. This presentain is not an offer for sale of securities in the United States The discussion to you does not constitute an offer or initiation to subscribe in propertifies in one increase of the XMG E and neither this presentation nor anything contained here the basis of, or be relied on in connection with, any offer or commitment whatsoever.

The facts and information are as up-to-date and are subject to revison in the fiture. Ne the title compay no any of its subsidiaris, any directors, offices, employes, advisors no any other persentation or warranty, express or inquel as to, and no relaries should be placed on the accuracy of the information contained in this pesentation Nether the Company of its subsidiaries, any other person stall have any liablily whatsover for any loss arising directly, from any use of this presentation. The same applies to information ontained in other material made available at the presentation.

While all resemble care haten to enore the facts stated herein and that the opinions contained herein and reasonable, this document is selective in nature and is intended oprovide an introduction of the business of the Company. When any information and statistics are puch information of statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate.

This presentation contains forward-looling to the business, finance and results of the Company and or the industry in which the Company poecates. These statements are generally including to believes, "expects" projects" "plans" "plans" "plan" "foreses," "anticipates" "argets" and sinilar everssion. The forward-coloner statements, including of the somptions, or information from third party sources, contained in this presentation are base on corrent parts and projections and projections and inks. Various factors could cause adual ititure results, performance or events to differ materially form those described in these statents. The Company of guarantee that the assumptions inderking statements are from error nor of they accept any responsibility for the future accuracy of the presentation. No obligation is assumed to update any forward-looking statements.

This presentation speaks as of March of this presentation nor any further discussions of the company with any of the recogners strate any implication that there has been no change in the Company since such date.

IMPORTANT NOTICE

Pro-forma results

Results contained in this presentation are party hancial results hat the Conpany derived from is peliminary and past financial statements on the indicated periods in order to make these periods comparable and show non-recurring costs.

Cautionary note regarding preliminary results and pro-forma financial results

This presentation cortains or eliminar results. The peliminar results may change during heir final review. While the Company believes hat is pro-forma financial results are refective of its recurent trend and the on-go in be no assurance that is pro-forma results will accurately refect there there the and status and the efor its inestors are urged not to rely solely upon the making their mesting decision and the pro-forma results should aways be review to the manal results.

MARKET ENVIRONMENT IS CHALLENGING - ESPECIALLY FOR 'JOBS' PLAYERS

...more company bankruptcies and cost cuttings are expected

Folgen des Bankenbebens

Kreditversicherer erwartet deutlich mehr Firmenpleiten

| Experten der Allianz erwarten nach den jüngsten Bankenturbulenzen eine Zunahme der Insolvenzen. Durch die nun noch restriktivere Kreditvergabe könnten mehr Unternehmen in Schwierigkeiten kommen.

11.04.2023, 13.19 Uhr

...employers are cost-conscious and consider restructurings

Many companies want to cut costs

EY CEO Survey, January 17, 2023

• One in two companies worldwide expect a severe downturn
• In Germany, the figure is as high as 57 percent.
• Six out of ten German groups plan to cut costs

...talent scarcity appears to be less severe than 2022

		Aktiv Jobsuchende Offene Stellen
1,500,000 ---
1,000,000
500,000
0

Das Verhältnis aktiv Jobsuchender zu offenen Stellen hat sich nur leicht im Vergleich zum Vormonat verändert.

...and leading jobs players lay off staff, reflecting difficult business environment

Job listing platform Indeed lays off 2,200 employees

nanda Silberling @asilbwrites / 7:21 PM GMT+1 · March 22, 2023

Updated: Talent.com confirms 18% staff reduction

by Greg Spencer | Apr 5, 2023 | Recruitment, Marketplaces | PRO

EXECUTIVE SUMMARY Q1 2023: KPIS REFLECT SHORT-TERM HEADWINDS BUT: MID & LONG-TERM POTENTIAL UNCHANGED

FINANCIAL PERFORMANCE

SEGMENT HIGHLIGHTS

B2B:

▪ 11% revenue growth with HR solutions despite worsening market sentiment

B2C:

• kununu shows acceleration in growth with + 2.0m new workplace insights yoy
• • 1.0m new members @XING yoy

O1 2023: CURRENT SLOWDOWN IN DEMAND FOR RECRUITING SOLUTIONS REFLECTED IN SLOWER GROWTH - WE CONTINUE TO INVEST

Pro-Forma revenues qual reported numbers

Pro-forma EBITDA adjusted by a one-time restructuring charge of €2.4m

Pro-forma net income adjusted by a one-time restructuring charge of €2.4m and the revaluation of financial assets of €0.4m

× XING

• = +1.0m new XING members yoy
• 197k new XING members in Q1 23
• XING opened its online job marketplace for everyone
• Major brand campaign to accompany repositioning of XING from a "business social network" to a "Jobs-network"

▪ Strongest growing growth in history w/ +1.9m workplace insights yoy

• 710k new workplace insights in Q1 23
• 8.8m workplace insights incl. 2.9m salary datapoints
• Launch of new "reactions" feature
• Publication of the kununu "Salary Check" Germany

HR SOLUTIONS & TALENT ACCESS SUBSCRIPTION CUSTOMER GROWTH REFLECTING CURRENT MARKET TREND W SLIGHT DECLINE IN Q1 23

- HR Solutions contribute 70% of NW SE group sales in Q1 23

• ▪▪ Market: job ads declining ~7% vs. H2 22 (NW SE analysis)™
• Growth driven by Employer Branding & 82B product bundles • Passive / transactional (job ads) › lightly up yoy but down vs. Q4

Q1 2023 FINANCIAL HIGHLIGHTS

Revenues came in at € 75.9 and 2% yoy growth

We continue to grow talent access via kununu and XING

Pro-forma EBITDA came in at € 17.9m

Operating cash-flow came in at € 33.9m

We are updating our pro-forma EBITDA guidance to € 92-100m

Pro-forma	Q1 2023 Abs.		Q1 2022 Abs.		Q1 23 vs. Q1 22	Q4 2022	Q1 23 vs. Q4 22
					Rel.	Abs.	Rel.
Service revenues	75.9		74.6		2%	82.1	(7%)
Other operating income	0.7		0.9		(13%)	0.5	62%
Capitalized own work	7.5		5.2		44%	5.4	39%
Costs before capitalizatıon	(68.7	(66.3)	(54.9)		25%	(64.4)	7%
EBITDA	15.5	17.9	25.7		(40%)	23.5	(34%)
Margin	20%	24%	34%		(14%pts)	29%	(8%pts)
D&A	(7.2)		(7.6)		5%	(13.3)	46%
Financial result	0.4	0.0	(1.0)	(0.3)	138%	0.3	(0.3) (30%)
Taxes	(1.6)	(1.5)	(5.0)	(5.2)	(67%)	(2.2)	(2.0) 24%
Net income	7.0	9.2	12.1	12.6	(42%)	8.4	8.0 (16%)
EPS	1.25	1.64	2.16	2.25	(42%)	1.49	1.42 (16%)

Q1 23 SEGMENT EBITDA

	Segment EBITDA Q1 23	Q1 23 Margin	Segment EBITDA Q1 22	Q1 22 Margin	Delta Comment
HR Solutions & Talent Access	7.7	14%	13.8	29%	· Continued investments • €2.4m restructuring costs
B2C	10.3	53%	13.6	59%	Decreasing B2C monetization
B2B Marketing Solutions*	(0.1)	N / A	0.7	20%	• Contribution margin positive
Central & Other	(2.4)	N / A	(2.5)	N / A
Total EBITDA	15.5	20%	25.7	34%

Rounding differences possible

O1 23 COST DEVELOPMENT

15.5	25.7	(10.2)	23.5	(8.0)
(3.5)	(3.3)	(0.1)	(3.6)	0.1
21.7	16.6	5.1	(9.9)	31.6
0.2	(0.2)	0.4	(0.7)	1.0
33.9	38.8	(4.9)	9.3	24.6
(9.0)	(7.8)	(1.3)	(8.4)	(0.7)
0.0	0.0	0.0	0.0	0.0
0.0	(0.4)	0.4	0.0	0.0
(2.5)	0.5	(3.0)	(1.7)	(0.8)
(0.1)	(0.4)	0.3	(0.0)	(0.0)
22.3	30.8	(8.6)	(0.8)	23.0
0.0	0.0		0.0
0.0	0.0		0.0
22.3

FOR 2023, WE NOW EXPECT A REVENUE ON PREVIOUS YEAR'S LEVEL (PREVIOUSLY: "SINGLE DIGIT PERCENTAGE GROWTH") AND A PRO-FORMA EBITDA OF € 92-100M (PREVIOUSLY: € 108-111M) AS WE WILL CONTINUE TO INVEST IN TALENT ACCESS (KUNUNU & XING) AND ONLYFY THROUGHOUT 2023 DESPITE SHORT-TERM MARKET HEADWINDS

RESULTS PRESENTATION

Q1 2023

HAMBURG, MAY 4, 2023

INVESTOR RELATIONS CONTACT DETAILS & SOCIAL MEDIA CHANNELS

Patrick Moeller

VP Investor Relations new work se Am Strandkai 1 20457 Hamburg Germany Tel.: +49 (0)40 419 131-793

E-mail: patrick.moeller@new-work.se

Fax.: +49 (0)40 419 131-44

http://twitter.com/NEW_WORK_SE_IR

https://www.new-work.se/en/investorrelations

https://nwx.new-work.se/

ESG topICS > https://www.new-work.se/en/Company-About-New-Work-SE/csr