Brockhaus Technologies AG

Investor Presentation • Dec 1, 2025

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The Gateway into German Mittelstand Technology Champions

December 2025

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Elevating Champions

We know Germany.

We know Mittelstand.

We know Technology.

We acquire Champions.

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Building one of Germany's leading technology groups

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Successful M&A transactions of recent years

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Brockhaus Technologies at a glance

Established

2017

Businesses

Revenue 2024

€204m

Headquarters

Frankfurt

Germany

Employees

~620

EBITDA 2024

€65m (32% margin)

IHSE USA

Ridepanda

IHSE Israel IHSE Asia IHSE HQ IHSE South Korea IHSE China Bikeleasing HQ Bikeleasing Austria kvm-tec Bikeleasing Lesora Brockhaus Technologies Bikeleasing Probonio

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Exceptional team, incentivized to increase shareholder value

Brockhaus Technologies team

Owning ~24% of outstanding BKHT shares

Marco Brockhaus Founder / CEO Management Board

Dr. Marcel Wilhelm COO / Legal Counsel Management Board

Paul Göhring Acquisitions

EXECUTIVE COMMITTEE

Subsidiary management

Owning ~7% of outstanding BKHT shares

Bastian Krause Co-CEO

Paul Sinizin Co-CEO

Othmane Khelil COO

Dr. Enno Littmann Chairman Advisory Board

Frank Breitenfelder CFO

Supervisory board

Owning <1% of outstanding BKHT shares

Dr. Othmar Belker Chairman

Michael Schuster Vice-Chairman

Martin Bestmann Member

Dr. Nathalie Krebs Member

Prof. Dr. Christoph Hütten Member

Matthias Memminger Member

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KPIs by segment (9M 2025)

(€ thousand)	HR Benefit & Mobility Platform		Security Technologies		Central Functions and Consolidation		BKHT Group
	9M 2025	9M 2024	9M 2025	9M 2024	9M 2025	9M 2024	9M 2025	9M 2024
Revenue	160,297	151,104	21,320	24,235	-	-	181,616	175,339
Revenue growth	6.1%		(12.0%)		-		3.6%
Gross Profit	98,471	101,252	17,638	18,012	310	321	116,419	119,585
Gross Profit margin	61.4%	67.0%	82.7%	74.3%			64.1%	68.2%
Adjusted EBITDA	50,847	70,620	2,627	3,210	(4,803)	(5,815)	48,670	68,015
Adjusted EBITDA margin	31.7%	46.7%	12.3%	13.2%			26.8%	38.8%
Adjusted EBIT	47,072	68,266	1,247	1,981	(4,954)	(6,028)	43,365	64,219
Adjusted EBIT margin	29.4%	45.2%	5.8%	8.2%			23.9%	36.6%

Total cash and cash equivalents of €38 million as per end of September 2025

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B2B FinTech for employee benefits

KPIs FY24

€173m

Revenue

€67m

Adj. EBITDA

39% Adj. EBITDA margin

~451

Employees

Company overview

• Bikeleasing is a B2B FinTech providing corporate customers with a leading digital platform for employee benefits
• The platform enables a highly automated connection between retailers, employees, employers, financing providers and insurers
• Mainly transaction-based business model with revenue per facilitated leasing object
• Brockhaus Technologies' share: 52%

Diversified customer base (selected)

Exceptional platform performance

in thousand new leasing objects

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Visualization of the business model

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Significant potential in the German market

Strategic focus backed by market data

Market penetration Increasing the number of corporate customers on the Bikeleasing platform 1

Driving utilization rates Increasing the % of employees within a company using the Bikeleasing solution 2

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Focus on long-term growth strategy

Financials 9M 2025 Revenue (€ million) 151.1 160.3

Continuing the growth trajectory

driven by a significant increase in revenue from the resale of bikes at the end of the leasing term

Gross margin of ~61%

the gross margin of the resale proceeds is significantly lower than that of the segment's other revenue components

Adjusted EBITDA margin of ~32%

due to high discounts with reduced resale prices and planned higher personal and other operating expenses

Operational update Levers for future growth

Expand market penetration by continuously onboarding new corporate customers

Increase usage rates among already onboarded corporate customers

Probonio is being offered to the existing Bikeleasing customer base to provide additional employee benefits and continuously expand the offerings

Continued internationalization

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Transformation from Bikeleasing to an HR Benefit & Mobility Platform

Total Addressable Market (TAM)

1. Market estimates based on research by independent consultants.

Multi-Benefit Platform

Through the acquisition of Probonio and the launch of Bike2Future, Bikeleasing evolves from a pure-play brokerage platform to a digital HR benefit ecosystem

Three synergistic business lines:

• Company bike leasing via Bikeleasing.de
• Multi-benefit software via Probonio
• Used bike platform via Bike2Future

Platform approach enables deeper integration with corporate benefit programs and drives long-term client retention, as well as expanding the TAM more than sixfold from ~€4 billion to ~€25 billion

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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 tax-optimized 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 or integration of providers for bicycle leasing

Strategic rationale

• 1. Opportunity to offer new customers more benefits than just bike leasing, from a single source
• 2. After the integration, the expanded benefits portfolio will be offered (upselling) to existing Bikeleasing customers (~81,000 companies; 4.0 million employees)
• 3. Increasing the penetration within existing customers' employee base, due to Probonio's significantly higher usage rate amongst employees compared to Bikeleasing
• 4. Simplified internationalization, not being limited to bicycle leasing

Company overview Software-based multi-benefit platform

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Expanded value creation through B2C sales of used bicycles

• The Bike2Future used bike platform, newly established in 2024, expands the business model by adding a B2C channel for the resale of previously leased bicycles and e-bikes
• Going forward, customers across Europe can browse and buy from over 1,000 used premium bikes - online or at the Weiterstadt location with more than 2,000 m² of showroom space

Strategic advantages

• 1. Bikeleasing expands its value chain by reselling bicycles not only through the B2B channel after lease contracts expire, but also B2C via its own used bike platform, Bike2Future
• 2. The future objective is to increase the gross margin in the structurally growing returned bike business through targeted optimization of resale value
• 3. The market for used bicycles is growing, as purchasing wellrefurbished former company bikes has proven to be an attractive alternative to buying new ones

Founding of Bike2Future Flagship store in Weiterstadt

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Technology leader for high performance data transmission

€32m

Revenue

€3m

Adj. EBITDA

9% Adj. EBITDA margin

~158

Employees

KPIs FY24 Company overview Products (selected)

• KVM (keyboard, video and mouse) technology for highly secure and low latency transmission of data in mission-critical applications
• Strategic acquisition of KVM-over-IP manufacturer kvm-tec establishes IHSE as a one-stop-shop for KVM solutions
• Cross-sectional technology with customers in Air Traffic, Governments, Healthcare, Transportation, Entertainment, Industrials, Automotive, Finance or Education
• Brockhaus Technologies' share: 100%

Global presence directly and through partners

Extenders

Switches

Converters & accessories

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Computer unit extender Encodes video, audio and data signals from the source and sends them to the workstation via network cables Video and keyboard Video and input signals are connected with the console unit Enables access from every workstation to every computer, where each signal has its own dedicated path with broadband, performance and security always guaranteed The perfect addition Proprietary KVM technology enables high-performance and high-security separation of workstations and their respective computers Visualization of the business model

Console unit extender

Decodes video, audio and data signals and makes these visible to the user

Video and keyboard Video and input signals are connected KVM switch with the console unit IP network switch Enables access from every workstation to every computer via an IP network Console unit IP extender Decodes video, audio and data signals and makes these visible Draco IP bridge Seamlessly links the proprietary IHSE architecture with the IP-Computer unit IP extender Encodes video, audio and data signals from the source and sends them to the workstation via IP network protocol

IP-based KVM technology

based kvm-tec architecture

IP-based KVM technology enables real-time-based interconnection and transmission of KVM signals between the workstation and remote computers in a more flexible and cost-efficient manner than proprietary solutions

to the user

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Strong position in the well-protected market for high-performance data transmission

Market mapping Barriers to entry

• "Mission-critical" applications
• Certification requirements
• Highest reliance / quality requirements
• Premium pricing
• Fewer players

• Standard solutions
• Low range / volume
• Commoditized bulk market
• Lower margin
• Many players

Certification and security standards

provide access to key end markets that are inaccessible to other players

High switching costs

High initial set-up costs increase customer stickiness and cross- / upsell potential

Intellectual property as key success factor in premium KVM market

IHSE's rich history of R&D provides the firm with a significant competitive edge

Key security certifications and standards of IHSE

National Information Assurance Partnership – NIAP PP4

Common Criteria Evaluation Assurance Level – CC EAL 4+

• US security standards required in highestsecurity projects
• European security standard required in highest-security projects

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Continuous development of its technology

Initial product certifications for the NATO Information Assurance Product Catalogue (NIAPC)

Continued market penetration with proprietary, new IP- or hybrid and certified "secure KVM" solutions

Growth in currently under-penetrated end markets (e.g. government, utilities, transportation)

Continuous R&D of completely new applications (e.g. control rooms for autonomous driving)

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Uniquely positioned with a proven and successful business model

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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

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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, China's efforts to decouple itself from the West, domestic and foreign policy uncertainties, high energy costs, the tariff and trade policy of the US administration 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 2024 on page 93 onwards of the Annual Report 2024 and page 14 onwards of our half-year financial report H1 2025.

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.