Allgeier SE

Investor Presentation • Sep 1, 2017

Company Presentation September 2017

Allgeier at a glance

Full-service approach and comprehensive portfolio

Fast-growing technologies and future trends

Performance

getting fully international. With an integrative business model and global shoring across 19 countries Allgeier seizes the opportunities of digitization.

A comprehensive portfolio qualifies Allgeier to be partner of large and mid cap clients in all relevant topics and required services

Technology	Enterprise Services	Experts
High End-Software & Application Engineering  Nearshore / Offshore Development  Implementation Management   Testing Software Lifecycle Projects Application Management Services  Outtasking  Nearshore / Offshore Delivery  IT Service Management Process & IT Consulting IT Architectures   E-Commerce & Portals  Mobile Enterprise Big Data / Business Intelligence   Apps	Software Solutions Standard Software Solutions  - SAP, Microsoft, IBM, Oracle etc.  Proprietary Software Solutions - ERP, IT-Security, ECM / DMS, BPM, Medical IT / E-Health Business Solutions  Cloud Solutions  Security & Compliance Solutions  Collaboration Solutions  Mobile Computing Solutions  Business Process Management	Contracting Recruitment and support of experts  for projects on a service contract basis Temp  Placement of experts and specialists in the context of personnel leasing Perm  Filling of professional and leadership positions with permanent hires Services Responsible design, sourcing,  implementation and support of projects and services

Allgeier's top line has been powered by both organic growth and acquisitions: 14% CAGR

Sales¹ / Sales pro forma²

• Allgeier reports strong growth in recent years: Sales¹ +14% CAGR (2008 – 2016)
• Sales pro forma (incl. historical values of companies acquired² ): +10% CAGR (2008 – 2016)
• Allgeier accelerates growth and expands the solutions and services portfolio through highly selective acquisitions

1 in EUR millions; continued operations according to IFRS (excl. discontinued operations)

2 in EUR millions; acquisitions from insolvency and asset deals excluding historical values; excl. discontinued operations

Across its business units, Allgeier is a broadly based IT group serving hundreds of customers in all important industries

1 Sales by business unit in EUR millions; continued operations according to IFRS, division information including intercompany balances

Allgeier works for leading companies across a range of different industries – from global groups to medium-sized businesses

Sales by industry

Local and international presence gives Allgeier flexibility for allocation of resources

79 sites in Germany

• 7 sites in Austria and Switzerland
• 14 sites in rest of Europe and Turkey
• 8 sites in the USA and Mexico
• 10 sites in Singapore, Vietnam, Malaysia, India & Australia

"Blended shoring" approach with onsite presence and flexible nearshore / offshore capacities

• Prague (Czech Republic) and Timisoara (Romania) are nearshore sites
• Additional offshore development unit built up in Vietnam
• India with more than 3,300 highly qualified developers¹ is the offshore centre for High-End Software & Application Development & Management

1 as of March 31, 2017

Through selective acquisitions, exits and continuous mergers Allgeier has formed one of the leading IT groups in the German-speaking world

61 Acquisitions1	 Buy and build concept with strategic anchor acquisitions to step into attractive fields  Complementary acquisitions arising from technology, people, client and size reasons
28 Mergers1	 Careful and smooth integration (1000 days program) to build larger units through market-, business model- and culture-orientated pooling  Ongoing integration process across all business units
8 Exits1	Ongoing agile portfolio development   Turning hidden reserves into equity  Generating funds to invest in attractive new fields
Awards	Several awards, recently i.e.  Allgeier: #1 Lünendonk®-special analysis 2017 "Leading German medium-sized IT consulting and system integration companies"  Allgeier Experts: TOP 3 IT personnel services companies Lünendonk®-Study 2017

Allgeier at a glance

Full-service approach and comprehensive portfolio

Fast-growing technologies and future trends

Performance

Segment Technology: Getting a truly global specialist for digitization and high-end application development

Facts and Figures

• 4,200 permanent employees and around 200 freelance IT experts

• 3,500 highly qualified IT developers in near- and offshore centres in India, Vietnam, Romania and Czech Republic

• International setup and flexible global provision of services: 45 sites in 18 countries, thereof 18 in Germany, 11 in Europe (Austria, Switzerland, France, Romania, Czech Republic, Sweden, Norway, Denmark, Finland and United Kingdom), 7 in U.S.A., 1 in Mexico, 1 in Singapore, 1 in Vietnam, 1 in Malaysia, 3 in India and 2 in Australia
• CMMI certification level 5
• ISO 27001 certification

Segment Technology: Getting a truly global specialist for digitization and high-end application development

Solutions and Services	References	Development
 High End Software & Application  Engineering - Nearshore / Offshore  Development - Implementation  - Management - Testing Software Lifecycle Projects   Application Management Services  Business Process Consulting & Analysis IT Consulting   IT Architectures  E-Commerce & Portals  Mobile Enterprise  Business Intelligence / Big Data  Apps	7 out of 20 biggest* German companies 7 out of 30 DAX listed companies > 300 national and international customers from almost all sectors, i.e., - BMW - E.ON - Pfizer - Hewlett Packard - Lufthansa - Nestlé - Deutsche Telekom - GE	 Ongoing strong and stable organic growth  Strategic acquisitions of Conduct (Norway) and Mokriya (USA) and further international expansion (Vietnam 2015, Australia, Malaysia and Finland 2017) Significant growth in existing customers and new accounts of industry  and market leaders in key markets Built up fully integrated global provider for transformative  technology services with global hybrid delivery model  Getting traction in new topics of high-end UX design and application development (Mokriya) Strategic outlook  Strengthen focus on future technology sectors, such as deep learning, big data, IT security, machine learning, IoT and wearables Deepen the global culture  Bolstering up integration 

* in terms of sales

Segment Enterprise Services: Building up a high-performance SAP full-service provider

Facts and Figures

• ~ 800 permanent employees
• High scalability and local presence: 29 sites in 5 countries, thereof 23 in Germany, 4 in Switzerland and Austria, 1 in Denmark and 1 in France
• ISO 9001 certification

• 1 in Lünendonk® special analysis 2017 of "Leading German medium-sized IT consulting and system integration companies"

• SAP S/4Hana Lighthouse Partner
• Allgeier IT Solutions: Cloud Leader 2015 in "SaaS ERP for SMEs" according to Experton Cloud Vendor Benchmark 2015

• 1 in COMPUTERWOCHE and ChannelPartner's customer survey evaluating the best German IT services companies 2013 (#2 in 2014 and 2012)

• Allgeier CH: Microsoft "Cloud Innovation" Partner of the year 2013

Segment Enterprise Services: Building up a high-performance SAP full-service provider

Solutions and Services References

• Enterprise Resource Planning (ERP) (i.e., Microsoft Dynamics NAV, SAP, and Allgeier solution syntona logic®)
• Enterprise Content Management (ECM) (i.e., Allgeier solution scanview®)
• Security (i.e., Allgeier solutions JULIA MailOffice, EMILY, EMILY SP)
• SAP (full SAP lifecycle, consulting and managed services)
• Sharepoint
• Business Process Management (i.e., Allgeier solution Metasonic® Suite)
• Cloud Solutions (private and public cloud)
• Mobile (i.e., Mobile Applications)

* in terms of sales

** in terms of revenues

*** in terms of total assets

www.allgeier.com 14

• 12 out of 20 biggest* German companies
• 11 out of 30 DAX listed companies
• 6 out of 10 biggest** German insurance companies
• 7 out of 20 biggest** German banks

• 2,000 national and international customers from almost all sectors, i.e.,

• Siemens
• Vodafone
• BMW
• Audi
• Intel
• ALSTOM
• SAP
• Oracle
• EADS
• Gothaer

Development

• Q1/2017 above plan and significantly above Q1/2016, total turnover performance improvement due to new SAP units
• Significant increase in profits due to more contribution of the SAP units and the acquisition of the former Ciber units expected in the upcoming quarters
• After high investments in organization & processes, intellectual horsepower and sales, new SAP entities start to contribute to top and bottom line:
• profitability and strong growth in revenues expected within HY2/2017

Strategic outlook

• After successful establishment of SAP unit now focus on transformation to enterprise services with key focus SAP and integration of Ciber SAP units
• SAP units will become one operation and will take over the lead in turnover and profit contribution of the segment

Segment Experts: Creating a market-leading one-stop-shop for professional workforce solutions

Facts and Figures

• ~ 1,900 salaried IT experts and commercial specialists

• 1,100 freelance IT experts, commercial specialists and engineers on project assignments

• 100,000 expert pool of IT experts, IT-related engineers and commercial experts for temporary assignments

• 10,000 candidates pool wanting permanent employment

• "Just in time" services meeting exactly the customers' needs: 43 sites in 3 countries, thereof 38 in Germany, 2 in Switzerland and 3 in Turkey
• Among top 3 personnel service-providers in Germany according to the Lünendonk® 2017 market segment study "The market for recruiting, mediating and managing IT freelancers in Germany"

Segment Experts: Creating a market-leading one-stop-shop for professional workforce solutions

Solutions and Services	References

• Contracting (Freelancer & Subcontractor): Provision of IT experts as subcontractors as well as handling projects that are finalized by the subcontractors
• Consulting & Services: Labourintensive IT and Consulting Projects, Outtasking, Managed Services and Project Management
• Temporary (Personnel Leasing): Leasing of IT and commercial experts, specialists or managers
• Permanent (Recruiting and Headhunting): Professional and Executive search, provision of highly-skilled IT experts for middle and top management

	CICICIILLU

• 11 out of 20 biggest* German companies
• 17 out of 30 DAX listed companies
• 11 out of 20 biggest** German banks

• 300 national and international customers from almost all sectors, i.e.,

• IBM
• Daimler
• Lufthansa
• ERGO
• UniCredit
• Commerzbank
• Deutsche Telekom
• Siemens
• Allianz

Development

• High investments in integration, leadership and people to build strong market-leading unit as one-stop-shop recruitment service (four pillars: Contracting, Temp, Perm, Services)
• Set up new management levels and high level shared services structure
• Hired many new colleagues in sales and recruitment
• Strong invest in internal staff (e.g. sales), HR development and training
• Several big deals won, especially Dataport

Strategic outlook

• Focusing on high margin businesses: Temp business will become large profit contributor in 2018 and Engineering will generate big part of future profit, sharpening the profile of the IT services unit
• Due to strong invest in sales we expect growth in gross contribution in 2018 and 2019
• Selected M&A activities to speed up growth
• In the next couple of years we want to achieve an appropriate margin for the business

www.allgeier.com 16 * in terms of sales ** in terms of total assets

Allgeier at a glance

Full-service approach and comprehensive portfolio

Fast-growing technologies and future trends

Performance

The German IT solutions and services market has shown stable growth for many years

• In the past few years, Information Technology has changed the working methods of nearly every industry and public administration to a decisive degree
• IT is now the most important driver for innovation in nearly every industry
• As an innovative full-service supplier on the edge of getting fully international, Allgeier benefits from such development
• Products and services offered in Experts, Technology, Enterprise Services business units are a reflection of the dynamic nature of the markets and corresponding customer demands

Source: Bitkom Research, EITO (March 2017), own estimate; all figures in EUR billions

Allgeier focuses on fast-growing technologies and on future trends

Technology and market trends 2017

e.g., security services & consulting (esp forensics), Allgeier cloud security solutions i.e. JULIA MailOffice® & secure web applications development (mgm sp) e.g., SAP cloud & Microsoft (member of MS Cloud Excellence Circle) solutions & proprietary SaaS solutions (ERP, ECM, Security & Logistics) e.g., Nagarro Assisted, Augmented, and Virtual Reality initiative (Google Glass at Work partner), Skylight – cooperation with Upskill (Formerly APX Labs) e.g., individual platform development (i.e. ELSTER, LIDL, REWE) & SAP hybris e-commerce solutions, Allgeier ES digital platform & infrastructure services e.g., SAP HANA & SAP Predictive Analytics solutions (S/4 HANA Lighthouse Partner), individual development of IoT solutions & applications e.g., Allgeier solutions and applications, i.e. SC mobile regulatory offences solution, scanview® Mobile, syntona® logic Mobile App e.g., SAP, Microsoft, Oracle software solutions and suites and proprietary ECM solutions such as scanview® and ScanFactory e.g., Allgeier Medical IT services and solutions (Allgeier.PACS, Allgeier.mDMAS, Allgeier.PACS-Integrator/PACS-Communicator, Allgeier.RIS, Allgeier.mECM) e.g., mgm solutions & science for high-performance mass data processing (i.e. mgm Hadoop, R & Python, Spark, Presto, Solr), SAP Predictive Analytics solutions e.g., proprietary business software solutions such as sBPM Metasonic® Suite

Source: Bitkom Research (50th sector barometer 2017), selected trends

Allgeier at a glance

Full-service approach and comprehensive portfolio

Fast-growing technologies and future trends

Performance

Sales growth both organically and through acquisitions CAGR 14%

Sales¹ Sales pro forma²

Experts Technology Solutions

1 in EUR millions; continued operations according to IFRS (excl. discontinued operations), segment information including intercompany balances

2 in EUR millions; acquisitions from insolvency and asset deals excluding historical values; excl. discontinued operations, segment information including intercompany balances

Allgeier grows by 12% in 2016

Revenue¹

• Enterprise Services: CAGR² 4% p.a.
• Establishment of leading service and solutions provider for enterprise and mid-market customers
• Technology: CAGR² 24% p.a.
• Ongoing strong organic growth of both divisions mgm and Nagarro
• Experts: CAGR² 5% p.a.
• High investments in structure and processes start to pay off

1 Continued operations according to IFRS, in EUR million, segment information including intercompany balances 2 CAGR: Compound Annual Growth Rate

After an increase of 10% in earnings 2015, we achieved a strong operative growth of 34% in 2016

EBITDA¹

• Enterprise Services
• Profitable core, but losses due to restructuring expenses in 2016
• Initial losses due to building up SAP unit
• Technology
• Sustained strong and stable double-digit organic growth
• Small extraordinary earnings amounting to EUR 0.9 m
• Experts
• Following the drop in 2014 earnings, now stable profit trend

1 Continued operations according to IFRS, in EUR million, segment information including intercompany balances 2 CAGR: Compound Annual Growth Rate

H1/2017: Double-digit sales growth and earnings affected by investments

Revenue¹

¹ Continued operations according to IFRS, in EUR million

• H1/2017 sales up to EUR 268.0 m (+13%)
• H1/2017 EBITDA stands at EUR 10.1 m (previous year: EUR 13.4 m)
• Results are reflecting investments in growth and future business development in Experts segment and in Allgeier Enterprise Services SAP units
• Operating result burdened as well by relatively higher production costs in Technology segment due to appreciation of the Indian rupee

Additional balance sheet figures underline sound financial basis

Cash and cash equivalents¹

1 According to IFRS, in EUR million

Net Debt¹ Financial liabilities¹

Allgeier focuses on performance, flexibility and innovation

Performance	High growth: Sales1  CAGR 14% (2008 – 2016) EBITDA1  CAGR 13% (2008 – 2016) Growth permanent employees2 : CAGR 14% (2008 – 2016) 
Flexibility	 Three strong segments with high sector and technical specialization form an integrated Group  Blended shoring approach and global delivery model – nearshoring and offshoring with > 3,500 highly qualified IT experts at sites in Romania, Czech Republic, Vietnam and India

Innovation	 Concentrate on highly innovative business fields such as Digitization, Cloud Computing, IT Security, Big Data, Mobile Applications, Internet of Things
------------	-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

1 Continued operations in accordance with IFRS 2 6,871 permanent employees and 1,356 temporary assignments (continued operations as of June 30, 2017)

Allgeier SE

Wehrlestrasse 12

81679 Munich

Germany

Tel: +49 (0) 89 99 84 21-0 Fax: +49 (0) 89 99 84 21-11

Email: ir@allgeier.com Web: www.allgeier.com