adesso SE

Interim / Quarterly Report • Nov 14, 2022

QUARTERLY STATEMENT Q3 2022

Key figures

9M 2022	9M 2021	Change	in %	Q1 2022	Q2 2022	Q3 2022	Q3 2021
653,578	496,214	157,364	32	209,767	202,378	241,433	173,781
532,563	400,634	131,929	33	171,945	163,495	197,123	143,443
121,015	95,580	25,435	27	37,822	38,883	44,310	30,338
71,423	81,175	-9,752	-12	27,879	10,250	33,294	25,523
10.9	16.4	-5.5	-34	13.3	5.1	13.8	14.7
23,805	42,068	-18,263	-43	12,526	-1,962	13,241	11,615
619,885	463,792	156,093	34	579,298	580,827	619,885	463,792
215,229	138,048	77,181	56	209,566	201,739	215,229	138,129
34.7	29.8	4.9	16	36.2	34.7	34.7	29.8
46,206	38,753	7,453	19	66,948	37,786	46,206	38,753
-41,063	-47,703	6,640	14	-8,186	-42,687	-41,063	-47,703
7,524	5,624	1,900	34	6,270	6,811	7,524	5,624
6,297	4,615	1,682	36	5,178	5,606	6,297	4,615
1,227	1,009	218	22	1,092	1,205	1,227	1,009
110	109	1	2	117	108	110	107
6,512,272	6,193,593	318,679	5	6,503,272	6,512,272	6,512,272	6,193,593
103.40	175.20	-71.80	-41	185.60	146.40	103.40	175.20
673.4	1,085.1	-411.7	-38	1,207.0	953.4	673.4	1,085.1
3.64	6.76	-3.12	-46	1.92	-0.29	2.01	1.86

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.

Content

• 4 Summary of key developments in the reporting period
• 6 Economic report
• 9 Forecast report
• 9 Subsequent events
• 10 Consolidated balance sheet
• 12 Consolidated income statement
• 12 Consolidated statement of comprehensive income
• 13 Consolidated cash flow statement
• 14 Segment information
• 16 Financial calendar
• 17 Imprint

SUMMARY OF KEY DEVELOPMENTS IN THE REPORTING PERIOD

adesso SE on track for 2022 after record quarter: sales up 32% to EUR 653.6 million after nine months

EBITDA increases by 13% year on year to EUR 71.4 million before non-recurring effect from company sale.

in the third quarter with in|sure Ecosphere, and pipeline remains strong

Full-year sales and EBITDA guidance

confirmed

Executive Board Statement on the Reporting Period

"adesso took advantage of the third quarter, which had the most working days in 2022, thanks to a slight improvement in capacity utilisation in the IT Services segment and, in particular, encouraging licence revenue in the IT Solutions segment. This allowed the company to make up for the lower profitability in the second quarter due to investments in more in-person events. adesso successfully continued its strong growth, increasing sales by 32% after nine months. Excluding the non-recurring effects from the company sale in the previous year, EBITDA rose by 13% to EUR 71.4 million. This puts adesso well within its target corridor for the full year. Despite a lower number of working days in the final quarter, adesso looks set to achieve a figure at the upper end of its sales forecast."

Economic Report

Business Performance

adesso SE increased its sales revenues quarter on quarter and year on year to a new record figure of EUR 241.4 million in the third quarter of 2022. Due to continued high levels of capacity utilisation and booking intensity in IT service business, the third quarter having the highest number of working days as well as encouraging licence revenue, adesso SE achieved growth of 39% compared to the same quarter of the previous year. The number of employees (expressed as full-time equivalents, or FTEs) increased by 1,900, or 34%, year on year to stand at 7,524 as at the reporting date. The further internationalisation of adesso led to a rise in the number of employees abroad. Although the upward trend in this figure was an impressive 22%, it lagged slightly behind the company's overall growth and the sustained rapid development in Germany. adesso now employs a total of 1,227 people (FTEs) outside Germany. The average number of employees (FTEs) rose by 25% year on year in the first nine months of 2022.

Revenues were increased by 32 % over the ninemonth period to EUR 653.6 million, 21 percentage points of which through organic growth. At just under 5 percentage points, the share of inorganic sales growth is mainly attributable to the acquisitions of KIWI Consulting EDV-Beratung GmbH and the Reachbird companies in the previous year. Most of the 33% increase in sales came from the German market. The relative growth abroad was an equally strong 27 %. Demand in the area of digitalisation remains at a high level. Dynamic sales growth almost exclusively in the double-digit range (between 9% and 80%) was achieved in all core industries in which adesso operates. As expected, the insurance sector also returned to a growth path. Sales from the manufacturing industry – still a relatively new core sector for adesso – were up sharply and accounted for 11% of total sales after nine months, making this industry adesso's fourth largest after the well-established public administration, insurance and banking sectors.

Position

Earnings Situation

The third quarter saw adesso post another record quarterly EBITDA performance of EUR 33 million (adjusted for the significant non-recurring effect from the company sale in the first quarter of 2021), which was partly driven by continued licence revenue from the in|sure Ecosphere. Cumulative EBITDA totalled EUR 71.4 million in the first nine months, after EUR 81.2 million in 2021 (previous year, adjusted: EUR 63.3 million). Excluding the non-recurring effect from the first quarter of 2021, EBITDA increased by 13%. At 10.9% after the more profitable third quarter, the nine-month EBITDA margin is once again well within reach of the full-year forecast of 11% to 12%. Despite much higher sales revenues, the margin prediction is slightly lower than the adjusted figure for fullyear 2021 due to planned investments, in particular in more in-person events following the marked effects of remote working during the pandemic. The factors contributing to this trend include an increase in other operating expenses, some of which relates to IT infrastructure conversion projects, and above all the lower capacity utilisation rate reported for the second quarter.

Gross profit rose slightly less sharply than sales, by 27% to EUR 552.1 million. Personnel costs, the largest cost item at adesso, also grew marginally less fast than sales, climbing by 28% to EUR 422.5 million.

in EUR k	9M 2022	9M 2021	Change	Change in %	Q3 2022	Q3 2021	Change	Change in %
Sales	653,578	496,214	157,364	32	241,433	173,781	67,652	39
EBITDA	71,423	81,175	-9,752	-12	33,294	25,523	7,771	0
EBITDA margin (in %)	10.9%	16.4%	-5.5	-34	13.8%	14.7%	-0.9	-6
Consolidated earnings	23,805	42,068	-18,263	-43	13,241	11,615	-1,626	14
Earnings per share	3.64€	6.76€	-3.12€	-46	2.01€	1.86€	0.15€	8

KEY FIGURES PROFIT SITUATION

The tax rate, which also reflects the non-recurring effect from the company sale in the previous year, is up from 22% to 30%. Consolidated earnings after taxes amount to EUR 23.8 million (previous year: EUR 42.1 million; previous year before non-recurring effect: EUR 24.4 million). Earnings per share are EUR 3.64 (previous year: EUR 6.76; previous year before non-recurring effect: EUR 3.91).

Notes on Individual Items in the Income Statement

At EUR 18.2 million, other operating income was down significantly on the previous-year level of EUR 23.8 million. This decline is primarily attributable to the non-recurring income of EUR 17.9 million in connection with the sale of the e-Spirit companies in the previous year. Part of current other operating income in 2022 relates to the mergers with material.one AG, com2m GmbH and Ries Corporate Solutions GmbH (for details, see the section entitled "Mergers" in the consolidated notes to the half-year report).

The cost of materials, which primarily related to services from external providers purchased within the scope of customer projects, increased significantly more sharply than sales, rising by 61 % to EUR 101.5 million and standing at 16% of sales. As a result of fast growth, adesso continues to use external services. The growth in sales revenues meant that gross profit rose less sharply than sales, by 27 % to EUR 552.1 million. Annualised gross profit per employee in the first nine months was up slightly year on year from EUR 109 thousand to EUR 110 thousand.

Personnel costs, the largest cost item at adesso, grew at a slower rate than sales, climbing by 28% to EUR 422.5 million. The average number of employees, converted into full-time equivalents, increased in line with personnel costs, by 25 % year on year to 6,669. As at the reporting date of 30 September 2022, adesso employed 7,524 people (full-time equivalents). At EUR 84 thousand, annualised personnel costs per employee rose by only 2% compared to the 2021 figure of EUR 83 thousand.

Other operating expenses climbed by 77 %, from EUR 33.4 million to EUR 76.8 million, in some cases due to the further easing of COVID-19 restrictions and the return to a post-pandemic working model. Alongside an initial significant rise in travel costs, other operating expenses were driven by expenditure relating to an increase in in-person events. IT infrastructure conversion projects were also launched at adesso SE. Said projects are associated with a corresponding increase in expenses compared to the same period in the previous year. Expenses in connection with staff expansion, such as staff recruitment and marketing expenses, also contributed to the increase in other operating expenses.

Income tax expense came to EUR 10.4 million (previous year: EUR 11.9 million). Based on pre-tax profit of EUR 34.2 million, the tax rate was calculated at 30% (previous year: 22%). Previous year's lower tax rate was primarily due to the sale of e-Spirit companies, which generated income that was largely tax-free.

Employee Key Figures

The total number of employees at the Group increased by 1,900 or 34% (previous year: 1,153 or 26%) from 5,624 to 7,524 full-time equivalents. In the first nine months of 2022, the number of employees rose by 1,710 (previous year: 649) from the figure reported on 31 December 2021. The number of employees outside of Germany increased year on year by 22% to 1,227 full-time equivalents. This is primarily attributable to new recruitment at the established adesso companies in Turkey and Switzerland. In addition, the Group recorded a low to mid-double-digit number of new hires in its workforce in Hungary and Bulgaria.

Financial Position and Results of Operations

The rise in goodwill and intangible assets was primarily due to the successive acquisition of shares in material.one AG (formerly: logsolut AG) and com2m GmbH, as well as the acquisition of quadox AG. In the previous year, the shares of material.one AG and com2m GmbH had been reported under shares recognised under the equity method, which were reduced in line with their carrying amount.

As at 30 September 2022, equity increased by EUR 23.4 million to EUR 215.2 million compared to the 31 December 2021 figure. This followed the distribution of dividends from healthy consolidated earnings of EUR 23.8 million and the newly added non-controlling interests from the acquisition of the majority stake in material.one AG. Equity rose by EUR 77.1 million compared to 30 September 2021. At 34.7 %, the equity ratio was only slightly higher than the figure reported on 31 December 2021 (34.5%), but significantly above the level as at 30 September 2021 (29.8%).

Liquid assets stood at EUR 46.2 million as at the reporting date (31 December 2021: EUR 109.9 million; 30 September 2021: EUR 38.8 million). Due to the marked rise in net operating assets, cash flow from operating activities amounted to EUR -11.6 million after EUR 0.2 million in the previous year. Trade receivables and contract assets increased by 32%, or EUR 55.4 million, to EUR 230.9 million. Cash flow from investment activities amounted to EUR -31.4 million, following EUR -17.5 million in the previous year. In addition to increased investment in property, plant and equipment compared to the previous year (EUR 14.1 million; previous year: EUR 10.9 million), this drop is mainly due to the acquisition of the Purple Scout Group and quadox AG. Cash flow from financing activities stood at EUR -20.3 million (previous year: EUR 1.1 million). Along with higher repayments of lease liabilities (EUR -15.9 million; previous year: EUR -11.6 million) and of financial liabilities, this trend is primarily attributable to a lower volume of new financial liabilities (EUR 23.4 million; previous year: EUR 36.3 million).

Compared to 31 December 2021, financial liabilities rose by EUR 8.4 million net to EUR 87.3 million in the first half of 2022 as a result of ongoing repayments, new loans and other financial liabilities. Net liquidity came to EUR -41.1 million as at the reporting date (31 December 2021: EUR 31.0 million; 30 September 2021: EUR -47.7 million).

Investments and Company Acquisitions

Investments in property, plant and equipment amounted to EUR 14.1 million (previous year: EUR 10.9 million) and comprised regular investments in new and replacement factory and office equipment such as IT equipment and furnishings. There is no investment backlog to report.

On 25 July 2022, adesso acquired all the shares in quadox AG, Walldorf, Germany. The company specialises in innovative data management, SAP analytics and business intelligence solutions. The transaction also adds prominent companies such as HeidelbergCement, Airbus, Rohde & Schwarz, Deutsche Post and adidas as new adesso customers in this business segment, building on their long-term customer relationships with quadox.

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.

EMPLOYEE KEY FIGURES

	9M 2022	9M 2021	Change	Change in %
Employees at the end of the period	8,345	6,206	2,139	34
Full-time equivalents (FTE) at the end of the period	7,524	5,624	1,900	34
Full-time equivalents (FTE) average for the year	6,669	5,317	1,352	25
Sales annualised per average FTE (in EUR k)	131	124	7	5
Gross profit annualised per average FTE (in EUR k)	110	109	1	2
Personnel costs annualised per average FTE (in EUR k)	84	83	1	2

quadox AG and com2m GmbH were merged with adesso SE in the third quarter of 2022.

in EUR k	quadox
Goodwill	4,849
Customer contracts	2,349
Software	-
Order backlog	295
Other non-current assets	156
Right-of-use from leasing	255
Trade receivables/contract assets	1,363
Other current assets	3
Liquid assets	3,052
TOTAL ASSETS	12,321
Provisions	30
Lease liabilities	255
Trade payables	168
Tax liabilities	299
Financial liabilities	1,900
Contract liabilities	633
Other liabilities	769
Deferred tax liabilities	867
TOTAL LIABILITIES	4,921
Net assets	7,400
Net assets attributable to adesso	7,400
Non-controlling interests	-
Negative goodwill	-
Consideration plus fair value of old shares	7,400
of which made in cash	6,580
Cash and cash equivalents received	3,052
Cash outflows (+) from acquisitions	3,528

Please refer to the notes to the consolidated interim financial statements for details on all acquisitions up to 30 June 2022.

Forecast report

Anticipated Development of adesso SE

The positive expectations for the second half of 2022 disclosed in the forecast report of the company's halfyear report have so far proved to be correct. Thanks to improved capacity utilisation in the IT Services segment and encouraging licence revenue in the IT Solutions segment, adesso is on track to achieve both its full-year forecast, which it raised in the course of 2022 in view of sales expectations, and the target corridors for EBITDA and the EBITDA margin. Despite a lower number of working days in the final quarter, adesso looks set to achieve a figure at the upper end of its sales forecast, provided that the company's growth continues as expected. On the basis of the return to healthy capacity utilisation in the third quarter and sustained high demand in the area of IT services, the Executive Board believes that the challenging macroeconomic situation will not have a negative effect on adesso's business in the fourth quarter either. In addition, strong chances of additional licence revenue continue to exist. As a result, the Executive Board is reaffirming its full-year forecasts of sales totalling EUR 800million to EUR 850million and EBITDA of EUR 90million to EUR 95million. The EBITDA margin is expected to be 11% to 12%.

Subsequent events

There are no significant events to report.

Consolidated Balance Sheet

OF ADESSO GROUP AS OF 30 SEPTEMBER 2022 ACCORDING TO IFRS

ASSETS in EUR k 30 Sep 2022 31 Dec 2021 NON-CURRENT ASSETS Goodwill 83,247 68,446 Intangible assets 38,470 22,676 Property, plant and equipment 35,852 28,395 Right-of-use assets 133,033 135,977 Shares accounted for using the equity method 2,590 4,076 Financial assets 11,792 10,368 Other non-current assets 457 0 Deferred taxes 4,381 2,007 309,822 271,945 CURRENT ASSETS Cash on hand and at bank 46,206 109,922 Trade accounts receivable 130,612 120,000 Contract assets 100,386 42,127 Income tax receivables 3,537 1,981 Financial assets 3,321 1,603 Other assets 26,001 8,127 310,063 283,760

TOTAL ASSETS	619,885	555,705

EQUITY AND LIABILITIES

.

6,512 51,587 152,170 -292 5,252 215,229	6,503 52,728 132,372 -236 460 191,827
	55,136
196	147
3,358	3,546
115,888	121,085
10,845	4,644
178,953	184,558
38,603	23,777
34,815	28,209
12,403	11,516
22,563	19,318
7,085	3,911
16,265	12,136
93,969	80,453
225,703	179,320
	48,666

	TOTAL EQUITY AND LIABILITIES	619,885	555,705
--	------------------------------	---------	---------

Consolidates Income Statement

OF ADESSO GROUP AS OF 30 SEPTEMBER 2022 ACCORDING TO IFRS

in EUR k	9M/2022	9M/2021
Sales revenues	653,578	496,214
Other operating income	18,243	23,832
Own work capitalised	639	5
TOTAL INCOME	672,460	520,051
Costs of material	-101,515	-63,132
Personnel costs	-422,473	-331,002
Result from the derecognition of financial assets	-14	-8
Result from the change in impairment on financial assets measured at amortised cost	-186	-1,243
Other operating expenses	-76,849	-43,491
EARNINGS BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION (EBITDA)	71,423	81,175
Scheduled depreciation of property, plant and equipment	-32,244	-25,410
EARNINGS BEFORE INTEREST AND TAXES (EBIT)	39,179	55,765
Earnings from shares recognised under the equity method	-1,658	-747
Interest income and similar income	66	906
Interest expenses and similar expenses	-3,360	-1,935
EARNINGS BEFORE TAXES (EBT)	34,227	53,989
Income taxes	-10,422	-11,921
CONSOLIDATED EARNINGS	23,805	42,068
of which attributable to shareholders of adesso SE	23,700	41,843
of which attributable to non-controlling interests	105	225
Number of shares at the end of the period	6,512,272	6,193,593
EARNINGS PER SHARE (BASIC, IN €)	3.64	6.76
EARNINGS PER SHARE (DILUTED, IN €)	3.64	6.75

Consolidated Statement of Comprehensive Income

OF ADESSO GROUP AS OF 30 SEPTEMBER 2022 ACCORDING TO IFRS

9M/2022	9M/2021
23,805	42,068
0	0
0	-1
-56	-236
-56	-237
23,749	41,831
23,778	41,606
-29	225

Consolidated Cash Flow Statement

OF ADESSO GROUP AS OF 30 SEPTEMBER 2022 ACCORDING TO IFRS

in EUR k	9M/2022	9M/2021
EARNINGS BEFORE TAX	34,227	53,989
Income from financing activities	3,294	1,029
Scheduled depreciation and amortisation on property, plant and equipment and intangible assets	32,244	25,410
Result from shareholdings recognized under the equity method	1,658	747
Non-cash income (-)/expenses (+)	-8,455	-63
Income (-)/expenses (+) from the disposal of consolidated subsidiaries	0	-17,907
Change in pension provisions	49	-11
Change in other provisions	3,687	1,747
Tax payments	-11,171	-24,082
Losses (+)/Gains (-) from the disposal of property, plant and equipment	112	0
Change to net operating assets	-67,242	-40,673
CASH FLOW FROM OPERATING ACTIVITIES	-11,597	186
Divestments of financial assets	1,065	805
Divestments of shares recognised at-equity	120	100
Payments for shareholdings recognised at-equity	-625	-497
Investments in property, plant and equipment	-14,117	-10,858
Investments in intangible assets	-3,036	-932
Investments in financial assets	-5,399	-2,180
Acquisition/Disposal of subsiduaries (less purchased cash and cash equivalents)	-9,389	-3,917
CASH FLOW FROM INVESTMENT ACTIVITIES	-31,381	-17,479
Dividend payments	-3,902	-3,216
Dividends received	171	249
Capital Increase	499	390
Payment of non-controlling interests	51	0
New liabilities to banks	23,390	36,254
Repayment of financial liabilities	-22,204	-19,087
Repayment of liabilities from leasing obligations	-15,889	-11,569
Interest paid	-2,475	-1,942
Interest received	36	24
CASH FLOW FROM FINANCING ACTIVITIES	-20,323	1,103
Change in value resp. change in cash and cash equivalents due to currency translation	-415	-110
CHANGE IN CASH AND CASH EQUIVALENTS	-63,716	-16,300
Cash and cash equivalents at the beginning of the period	109,922	55,053
Cash and cash equivalents at the end of the period	46,206	38,753

Segment Information

9M 2022 (in EUR k)	IT Services	IT Solutions	Reconciliation local laws/IFRS	Consolidation/ other	Group
Revenues with external customers Services Licences	575,378 6,189	46,651 13,309	13,628 -1,559	-19 -	635,638 17,940
Revenues with other operating segments	104,141	22,082	6	-126,229	–
TOTAL SALES	685,708	82,042	12,076	-126,248	653,578
Other operating income	20,223	1,851	1,451	-5,282	18,243
Changes in inventories	7,955	2,547	-10,502	-	-
Own work capitalised	-	236	-	403	639
Cost of materials	-196,641	-22,479	0	117,605	-101,515
Personnel costs	-378,733	-47,868	3,769	359	-422,473
Other operating expenses	-92,910	-10,571	18,096	8,336	-77,049
EBITDA	45,602	5,759	24,889	-4,827	71,423
Depreciation and amortisation	-10,134	-1,309	-20,181	-621	-32,245
Amortisation of goodwill	-3,850	-242	4,092	-	-
EBIT	31,618	4,208	8,800	-5,448	39,179
Income from financing and investment activities	2,949	-179	-2,408	-5,313	-4,951
EBT	34,567	4,029	6,392	-10,761	34,227
Amortisation of goodwill	3,850	242	-4,092	-	-
EBT BEFORE GOODWILL AMORTISATION	38,417	4,271	2,300	-10,761	34,227

9M 2021 (in EUR k)	IT Services	IT Solutions	Reconciliation local laws/IFRS	Consolidation/ other	Group
Revenues with external customers Services Licences	430,545 4,611	41,944 8,995	11,167 -1,048	- -	483,655 12,559
Revenues with other operating segments	73,973	14,193	-	-88,166	-
TOTAL SALES	509,129	65,132	10,119	-88,166	496,214
Other operating income	28,382	1,851	-2,537	-3,790	23,906
Changes in inventories	5,454	3,102	-8,556	-	-
Own work capitalised	141	-	-141	5	5
Cost of materials	-128,077	-19,836	-7	84,788	-63,132
Personnel costs	-294,656	-40,729	3,575	808	-331,002
Other operating expenses	-54,481	-6,682	12,397	3,949	-44,817
EBITDA	65,892	2,838	14,850	-2,406	81,175
Depreciation and amortisation	-6,483	-1,162	-17,209	-556	-25,410
Amortisation of goodwill	-4,166	-308	4,474	-	-
EBIT	55,243	1,368	2,115	-2,962	55,765
Income from financing and investment activities	676	897	-956	-2,393	-1,776
EBT	55,919	2,265	1,159	-5,355	53,989
Amortisation of goodwill	4,166	308	-4,474	-	-
EBT BEFORE GOODWILL AMORTISATION	60,085	2,573	-3,315	-5,355	53,989

Financial calendar

Date	Event
2022-01-10/11	25th ODDO BHF Forum, Lyon (virtual)
2022-01-17	21st German Corporate Conference (GCC) of UniCredit/Kepler Cheuvreux (virtual)
2022-02-22	Warburg German Ideas Day, Warsaw (virtual)
2022-03-16	Berenberg EU Opportunities Conference 2022, London (virtual)
2022-03-29	Publication of the 2021 annual report, financial press/analyst conference, Dortmund
2022-05-16	Publication of the Quarterly Statement Q1 2022
2022-05-23	Spring Conference 2022, Frankfurt/Main
2022-05-31	Regular ASM, Dortmund
2022-06-03	Dividend payment
2022-06-24	Warburg Highlights 2022 Conference, Hamburg
2022-08-15	Publication of the 2022 half-year report
2022-09-05/06	German Fall Conference 2022, Frankfurt/Main
2022-09-19	Berenberg and Goldman Sachs Eleventh German Corporate Conference, Munich
2022-11-08	ICF BANK Small-/Midcap-Konferenz, Düsseldorf
2022-11-14	Publication of the Quarterly Statement Q3 2022
2022-11-28/29	German Equity Forum 2022, Frankfurt/Main
2023-01-09	26th ODDO BHF Forum, Lyon (virtual)

Imprint

adesso SE | Adessoplatz 1 | 44269 Dortmund | T +49 231 7000-7000 | F +49 231 7000-1000 | ir@adesso.de Concept: adesso SE Layout: 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 Quarterly Statement Q1 2022, the Half-year Report 2022 and the 2021 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/