Axway Software

Earnings Release • Oct 28, 2013

Contacts Investor Relations: Patrick Gouffran +33 (0)1 40 67 29 26 – pgouffran@axway.com Press Relations: Sylvie Podetti +33 (0)1 47 17 22 40 – spodetti@axway.com

Press release

Axway: Excellent third quarter with organic business growth up 13.8% on the third quarter of 2012 (including growth in licences of 37.6%) and cumulative organic growth of 7.8% in the first nine months of the year.

Paris, 28 October 2013. Axway announces revenue of €60.0 million in the third quarter of 2013, representing total revenue growth of 18.4% on the same period in 2012. This outstanding performance confirms the recovery in projects in France and sustained activity in the United States.

Comments on third-quarter activity

3d Quarter (M€)	2013	2012 Published	2012 Pro forma 1	Total Growth	Organic Growth 1
Licences	20.2	12.6	14.7	60.0%	37.6%
Maintenance	26.6	24.9	24.8	6.7%	7.1%
Services	13.3	13.2	13.3	0.6%	0.1%
Axway	60.0	50.7	52.7	18.4%	13.8%

Revenue by activity

(1) at constant exchange rates and scope of consolidation

By activity, licences enjoyed substantial organic growth in the third quarter of 2013, up 37.6% on the same period in 2012. This confirms the recovery in corporate infrastructure projects since the beginning of the year. Maintenance revenue was up strongly, reflecting the group's policy of actively supporting key accounts. Services remained globally stable compared with 2012, with projects to implement new licences having so far failed to materialise.

1

Revenue by geographical zone

3d Quarter (M€)	2013	2012 Published	2012 Pro forma 1	Total Growth	Organic Growth 1
France	20.4	16.6	16.9	22.9%	21.0%
Rest of Europe	13.2	11.6	13.2	13.2%	-0,5%
America's	24.8	20.8	21.1	19.1%	17.5%
Asia/Pacific	1.6	1.6	1.5	0.0%	7.1%
Axway	60.0	50.7	52.7	18.4%	13.8%

(1) at constant exchange rates and scope of consolidation

By geographical zone, France confirmed the recovery observed since the fourth quarter of 2012. The United States saw growth of 19.1%, confirming the positive momentum of projects. Rest of Europe has yet to feel the impact of new solutions launched on the market. Asia/Pacific remained stable in the third quarter but enjoyed cumulative growth of 12.4% in the first nine months of the year.

Nine-month cumulative revenue by activity

(M€)	2013	2012 Published	2012 Pro forma 1	Total Growth	Organic Growth 1
Licences	47.1	37.2	41.2	26.8%	14.4%
Maintenance	79.0	72.0	72.7	9.7%	8.6%
Services	40.3	39.9	40.4	1.0%	-0,2%
Axway	166.4	149.1	154.3	11.6%	7.8%

(1) at constant exchange rates and scope of consolidation

(M€)	2013	2012 Published	2012 Pro forma 1	Total Growth	Organic Growth 1
France	55.2	49.2	49.6	12.2%	11.3%
Rest of Europe	39.9	36.7	39.6	8.6%	0.6%
America's	66.4	58.9	60.7	12.9%	9.4%
Asia/Pacific	4.8	4.3	4.2	12.4%	14.0%
Axway	166.4	149.1	154.3	11.6%	7.8%

Nine-month cumulative revenue by geographical zone

(1) at constant exchange rates and scope of consolidation

Cumulatively in the first nine months of 2013, the group confirmed its positive momentum (total growth of 11.6% and organic growth of 7.8%). The France zone (33% of revenue in the nine months) and the United States zone (40% of revenue in the nine months) saw significant growth while Rest of Europe remained stable. The commercial portfolio benefited from the positive reception of solutions based on the Axway5 offering. Although market drivers are specific to each industry, business opportunities are oriented to technologies involving convergence and integration of cloud and mobile. Axway's API offering is key to managing these types of integration projects. Sales of licences were encouraging, with cumulative nine-month growth of 26.8%. However, the full year performance remains largely influenced by licence sales in the fourth quarter, the major quarter in the group's business cycle.

The company finalised its out-of-court settlement with the US Department of Justice in the GSA dispute under the financial conditions set out in the press release of 31 July 2013.

Moreover, Axway's financial situation remains robust. Its cash position is still estimated at between €45 million and €55 million at the end of 2013 with bank borrowing at around €35 million, at constant scope of consolidation.

Prospects

The good performance of Axway since the beginning of the year and a significant commercial portfolio for the fourth quarter enables the group to confirm its positive organic growth target and to maintain its operating margin for full-year 2013, though the fourth quarter remains crucial in Axway's global performance.

Financial Calendar

Tuesday 18 February 2014: Publication of the 2013 financial statements Wednesday 19 February 2014: Analysts' conference on the 2013 financial statements

About Axway

Axway (NYSE Euronext: AXW.PA), the market leader in governing the flow of data, is a software company with more than 11,000 customers in the private and public sector in 100 countries. For more than a decade, Axway has provided leading organisations with technology solutions that better manage the flow of strategic data around the organisation, to the outside world between partners, within B2B communities, to the cloud and to mobile peripherals. Our solutions are offered for on-premise or cloudbased management with a full range of services. They span B2B integration, managed file transfer, API and identity management, and email security. Axway is registered in France with headquarters in the United States and subsidiaries in 18 countries around the globe.

More information is available at: www.axway.com

Disclaimer

4

This document is a free translation into English of the original French press release. It is not a binding document. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.