Brockhaus Technologies AG

Investor Presentation • May 15, 2024

Elevating Champions

Earnings Call Q1 2024

May 15, 2024

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 "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 conflict in the Middle-East, potential supply bottlenecks, the ongoing energy crisis, inflation, high interest rates and other global macroeconomic and geopolitical tensions 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 alternative performance measures, please refer to Note 6 of BKHT's Consolidated Financial Statements for 2023 or page 13 of BKHT's quarterly statement Q1 2024.

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 2024PF

Key highlights

Strong revenue growth in Q1 2024 despite a normalization of seasonality in the Financial Technologies segment and planned lower Q1 revenue in the Security Technologies segment

Forecast 2024 unchanged with revenue between €220 million and €240 million and adjusted EBITDA between €80 million and €90 million

Further decrease of leverage ratio to ~0.65x, high financial reserves available for future growth initiatives with cash and cash equivalents of €56 million

Adjusted pro forma

EBIT

Adjusted pro forma EBITDA

Note: For definitions and detailed explanations of the alternative performance measures, please refer to page 94 onwards of our Annual Report 2023 and page 13 onwards of our quarterly statement Q1 2024

9.9 10.2

+3%

10.9 11.4

+4%

Q1 2023 Q1 2024

Revenue by quarter

Deep dive: Seasonality of Bikeleasing

(# of bikes facilitated in percent of year's volume)

Comment

• Supply shortages due to COVID led to limited supply at bike retailers until some 12 months ago
• Consumers therefore ordered bikes more evenly throughout the year, expecting longer delivery times
• This led to an extraordinarily strong Q1 2023 and a "flattening" of the usual seasonality
• As delivery times have returned to normal due to the available supply, seasonality is expected to return to its historic average
• This is expected to further intensify the already strong seasonality at Bikeleasing, leading to a reduced % of annual bikes brokered in Q1/Q4

Revenue by region

KPIs by segment (pro forma)

(€ thousand)	Financial Technologies		Security Technologies		Central Functions and Consolidation		BKHT Group
	Q1 2024	forma Pro Q1 2023	Q1 2024	Q1 2023	Q1 2024	Q1 2023	Q1 2024	forma Pro Q1 2023
Revenue	32 366 ,	25 145 ,	7 258 ,	8 293 ,	-	1	39 624 ,	33 439 ,
Revenue growth	28 7%		(12 5%)				18 5%
Gross Profit	21 275 ,	16 421 ,	5 239 ,	6 245 ,	105	89	26 619 ,	22 755 ,
Gross Profit Margin	65 7%	65 3%	72 2%	75 3%			67 2%	68 1%
Adjusted EBITDA	12 045 ,	10 648 ,	518	1 603 ,	(1 202) ,	(1 333) ,	11 361 ,	10 918 ,
Adjusted EBITDA Margin	37 2%	42 3%	7 1%	19 3%			28 7%	32 7%
Adjusted EBIT	11 311 ,	10 032 ,	142	1 267 ,	(1 232) ,	(1 364) ,	10 221 ,	9 934 ,
Adjusted EBIT Margin	34 9%	39 9%	2 0%	15 3%			25 8%	29 7%

Total cash and cash equivalents of €56 million as per end of March 2024

Constant net leverage well below the target level…

Net debt calculation as per Q1 2024 Highlights

(€ million)

Available financing capacity allows for future growth through new acquisitions

Conservative leverage ratio of ~0.65x adj. proforma EBITDA 2023 (target value of ~2.5x)

High balance sheet quality underlining resilience of our business

Bikeleasing – Operational deep dive

Another record Q1 for Bikeleasing in terms of revenue and earnings

# of corporate customers grew to ~62k with ~3.4 million employees #

# of facilitated bikes with ~27k slightly below the previous year, due to a normalization of seasonality (unusually mild Jan/Feb 23 paired with higher order backlog due to longer, covid-fueled order times)

(# bikes facilitated)

→ Long-term (7 year) average Q1 weighting of ~13%

Building a one-stop-shop for employee benefits

• Probonio is a Software-as-a-Service (SaaS) provider for the management of a wide range of employee benefits
• Through their proprietary platform and app, employers can currently offer their employees more than ten different benefits
• Benefits include inter alia: non-monetary benefits (vouchers), meal subsidies, corporate fitness, integration of providers for bicycle leasing and occupational pension schemes

Strategic rationale

• 1. Opportunity to offer more benefits than just bike leasing to new customers, from the same hand
• 2. Following the integration, offering (upselling) the broadened portfolio of benefits to the existing Bikeleasing customer base (~62,000 companies; 3.4 million employees as per Q1 2024)
• 3. Increasing the penetration within existing customers' employee base, due to Probonio's significantly higher usage rate amongst employees as compared to Bikeleasing
• 4. Simplified internationalization, not being limited to bicycle leasing

Company overview Software-based multi-benefit platform

Transaction structure

Pre-transaction Post-transaction

IHSE – Operational deep dive

(€ million) Revenue 12.5% below first quarter 2023 due to planned upgrades and capacity increase in the main production facility with 2 weeks downtime

EMEA region strong with increase in orders received and revenue totaling €5.5 million which is an increase of +€1.6 million to Q1 of 2023

Americas with €1.5 million in revenue not on same level as previous year, mainly due to a large solitary project that contributed more than €1.0 million in Q1 of 2023.

Quarterly revenue

IHSE – Operational deep dive

Facility and equipment upgrades are scheduled in 2024 and 2025 to achieve end to end capacity increase of 50% while reducing cost due to higher automatization

New soldering equipment as inline system concept was installed in March 2024, resulting in an increase of output by 30%

Handling system of PCB (loading, SMD, assembly and soldering) was updated to an inline system for quality improvement and reduction of SMD rework by 60%

Group Forecast FY 2024

Revenue

€220m - €240m

(2023: €187m | +18% to +29%)

Adj. EBITDA

€80m - €90m

(2023: €62m | +29% to +45%)

Note: For additional details please see the ad-hoc announcements dated June 6, 2023 and March 22, 2024; Figures for 2021 include adjustment for decrease in earnings due to value step up.

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