CMS Info Systems Limited — Interim / Quarterly Report 2026

Feb 12, 2026

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CMSINFO/PKDD/2602/005

February 12, 2026

To, BSE Limited Listing Department, 1st Floor, PJ Towers, Dalal Street, Fort, Mumbai – 400 001

National Stock Exchange of India Limited Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051

Scrip Code: 543441 Symbol: CMSINFO

Sub: Presentation for Conference Call scheduled to be held on Friday, February 13, 2026 at 12:00 Noon (IST)

Dear Sir/Madam,

Further to our letter no. CMSINFO/SDDD/2602/002 dated February 10, 2026 and pursuant to Regulation 30 read with Part A of Para A of Schedule III of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015, please find enclosed the Presentation for Conference Call with the Management team of CMS Info Systems Limited (“the Company”) which is scheduled to be held on Friday, February 13, 2026, at 12:00 Noon (IST) to discuss, inter alia, Un-Audited Financial Results for the quarter and nine months ended December 31, 2025 of the Company.

This is for your information and dissemination.

Thanking You,

Yours faithfully,

For CMS Info Systems Limited

DEBASHIS Digitally signed by DEBASHIS DEY DEY Date: 2026.02.12 22:13:21 +05'30' Debashis Dey Company Secretary & Compliance Officer

Encl: a/a

Regd. Office: T‐151, 5th Floor, Tower No.10, Railway Station Complex, Sector‐11, CBD Belapur, Navi Mumbai‐ 400 614 | T: +91‐22‐4889 7400 | F: +91‐22‐4889 5177 CMS Info Systems Limited |CIN: L45200MH2008PLC180479 | www.cms.com | E: contact@cms.com

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Earnings Presentation

Q3 FY26 Where Platform Meets Possibilities

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Q3 FY26 update

Services revenue @ ₹ 577 Cr (4% QoQ growth) starting to recover with uptick in consumption and order book execution

ATM Management Solutions

• Signed contract with SBI for ₹ 1,000 Cr over 10 years ; Incremental Revenue ₹ 500 Cr; Going live in Q4

• Rapid execution of ICICI/IPPB contract won in H1 (~₹ 750 Cr TCV); 75% live

• New RFPs are switching towards fixed price revenue models; Pipeline of 7k+ units (TCV of ₹ 2,000 Cr+)

Tech and Payment Solutions

• HAWKAI expanded to 47k+ sites; On track to achieve 50k sites by Mar’26

• Enterprise HAWKAI solution went live at leading PSU Bank after 12 months of product and solution build

• Card Management Solutions revenue up by 37% QoQ

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Q3 FY26 update

Retail Solutions & Currency Logistics

• Retail cash volumes have rebounded meaningfully following the GST rate reduction (Illustrative example below)

Customer	Same Store Cash Collection	Same Store Cash Collection
	Dec’24	Dec’25*
Quick Commerce Player	100	126
Organized Retail Chain	100	147
Value Retail Chain	100	110
High End Electronics Retailer	100	135
QSR Player	100	115

*Indexed to 100

• Rationalized low yield long tail of smaller retail/CIT customers, as part of network optimization

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Q3 FY26 update

Business EBITDA margin up by 160 bps QoQ

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Business EBITDA (INR Crs)
EBITDA Margin (%)
170 50.0%
158 45.0%
160
40.0%
150 145 35.0%
30.0%
140
25.0%
130 25.5%
20.0%
23.9%
120 15.0%
10.0%
110
5.0%
100 0.0%
Q2-FY26 Q3-FY26
Business EBITDA = Reported EBITDA+ Corporate Expenses
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• 5% ATM cash yield improvement by Mar’26 on track

• Significant network optimization through tech investments for dynamic routing

• On track to achieve 10% reduction in # of routes by Mar’26

• Ramping up Gig delivery model for retail clients: 2,300-member team servicing 20%+ of retail points

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M&A/Capital Allocation Update

• Ramped up Capex spend in line with strong order wins (YTD Capex of ₹ 275 Cr)

• Securens Integration complete; Final Investment of ₹ 70 Cr

• Signed Term Sheet with top 5 MSP for ATM/Managed Services Business Transfer

➢ Deal Value Est. at ₹ 100-125 Cr ; Strong growth synergy and enables consolidation of the sector

• ➢ Targeting closure by Mar’26

• Paid FY25 full year and special dividend of ~₹ 100 Cr

• Declared FY26 Interim Dividend of ~₹ 45 Cr

• Continue to evaluate value accretive opportunities in core as well as in Payments and Technology Segment

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Q3 FY26 financial summary

₹ Cr

PBT before exceptional items

Business EBITDA

Revenue

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items
EBITDA EBITDA % PBT PBT%
190 50.0% 130 125 30.0%
618 182
609 180 45.0% 120
25.0%
40.0%
170
110
581 158 35.0%
160 20.0%
100 21.6% 96
30.0%
150 145
88
31.3% 25.0% 90 15.0%
140 15.7%
23.9% 25.6% 20.0%
80
130 10.0%
15.0%
70
120
10.0%
14.3% 5.0%
110 5.0% 60
100 0.0% 50 0.0%
Q3-FY25 Q2-FY26 Q3-FY26 Q3-FY25 Q2-FY26 Q3-FY26 Q3-FY25 Q2-FY26 Q3-FY26
YoY QoQ YoY QoQ YoY QoQ
6% 2% -13% 9% -30% -8%
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*Q2 FY26 had one off benefits of INR 12 Crs due to ESOP/PLI reversal

Business EBITDA = Reported EBITDA + Corporate

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Q3 FY26 segmental financials

Revenue

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₹ Cr
271 295
210
404 395 384
Q3 FY25 Q2 FY26 Q3 FY26
YoY QoQ
Cash -5% -3%
MS & TS 41% 9%
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Cash Logistics

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EBIT
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	EBIT	EBIT	EBIT
	103 59 63 38 38 39
	Q3 FY25 Q2 FY26 Q3 FY26
	BU	YoY	QoQ
	Cash	-39%	7%
	MS & TS	5%	4%

MS & Tech Solutions

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9M FY26 financial summary

₹ Cr

PBT before exceptional items

Business EBITDA

Revenue

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EBITDA EBITDA % PBT PBT%
1854 600 50.0% 400 30.0%
369
1805 539
550 45.0%
350
484 25.0%
500 40.0% 309
450 35.0% 300
20.0%
400 30.0% 250 20.5%
350 29.9% 25.0% 16.7% 15.0%
26.1% 200
300 20.0%
10.0%
250 15.0% 150
200 10.0%
5.0%
100
150 5.0%
100 0.0% 50 0.0%
9M FY25 9M FY26 9M FY25 9M FY26 9M FY25 9M FY26
YoY YoY YoY
3% -10% -16%
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Business EBITDA = Reported EBITDA + Corporate Expenses

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Significant change in business mix

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FY24 Revenue Mix
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9MFY26 Revenue Mix

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18%
19% 22%
22%
Largest customer
Private Sector Banks/Retail
Managed Service Providers 30%
24%
35% 29%
PSU Banks
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India’s Consumption Story CY’25

4[th] edition of CMS Consumption Report

India’s Cash Landscape in CY’25

₹14 Lakh Cr.

₹1.26 Cr.

₹1.31 Cr.

Cash processed within CMS network in CY’25, powering everyday spending

Festive season drives peak monthly average ATM dispense in Oct’25

Monthly average ATM withdrawals in SURU in CY’25

India’s Spending Priorities in CY’25

Festive season and GST reforms were key drivers

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32% 22% 5% -20%
Insurance Organised Retail Chains Consumer Durables E-commerce
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Download
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CMS Foundation

Recognised for women empowerment & integrated village development projects

Most Impactful Integrated CSR Best Women Empowerment Initiative of the Year – 2025 Initiative of the Year - 2025

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In association with IICA (Indian Institute of Corporate Affairs) a Government of India entity operating under the Ministry of Corporate Affairs

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COMPANY OVERVIEW

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India’s best business services platform: Driving growth by gaining market share in core business, investing to expand TAM with a ‘PLATFORM’ approach

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• Market share focus, large scale to drive lowest unit cost economics

• World-class talent, tech & quality

• High margin profile and FCF generation

• Disciplined capital allocation

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• Forward & backward integration to offer customer value

• Drive higher growth through integrated offerings

• Each business to generate FCF to drive own growth

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11X revenue and 16X PAT through market cycles & shocks

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Revenue CAGR PAT CAGR
₹2,425 Cr
₹1,915 Cr
Total Revenues (₹ Cr) PAT%
₹1,146 Cr
₹1,129 Cr
₹216 Cr
FY 09 FY 15 FY 19 FY 23 FY 25
High Growth NPA Crisis COVID Increased
& & &
Total revenues Competitive Intensity
Competition Demonetization Regulatory Compliance
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Consistent operating cash flows and free cash flow conversion

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Avg. OCF/EBITDA @ 73% Avg. FCF/EBITDA @ 47%
97%
84%
84%
86%
76%
75% 77%
73%
55%
52%
51%
64%
61%
43%
39%
43%
26%
-7%
136 149 78 214 185 256 407 440 483 122 129 47 131 130 213 332 328
-28
FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25
OCF (₹ Cr) OCF/EBITDA (%) FCF (₹ Cr) FCF/EBITDA (%)
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Prudent capital allocation resulting in high ROCE

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Ramped up Reduced
investments capex, higher
(weaker competitive
competitor b/s) intensity
90
13
Invested to 23 156
grow MS
business
92
Preserve
20
capital post- 7
demonetization 38
27
4
2 36
1 10
21 25 33 74 108 197 208 99 129
FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25
Capex (₹ Cr) M&A (₹ Cr) Dividend (₹ Cr)
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21.8% Avg. ROCE
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25.4% 25.2%
24.3% 23.4% 24.4%
23.9%
17.4%
16.1% 15.8%
FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25
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• Post tax ROCE

Cash balance of ₹1,000 Cr as of Mar’25

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Our three businesses: created to deliver scalable growth and strong margin profile

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Outsourcing
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Outsourcing Formalization & Consumption Automation
ATM Management Retail Solutions & Technology & Payment
Solutions Currency Logistics Solutions
Drive currency velocity across SaaS solutions for BFSI &
Partnering banks for diverse sectors by leveraging Retail to mitigate risk and
integrated end-to-end ATM tech and network capabilities powering self-service banking
channel management channels
FY 21 Services Revenue
~₹665 Cr ~₹390 Cr ~₹110 Cr
FY 25 Services Revenue
~₹1,300 Cr ~₹640 Cr ~₹240 Cr
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OUTLOOK

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FY 30: ATM management solutions outlook 11% growth potential, driven by market expansion and share gains

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Drivers
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Increase in interchange fee Increased outsourcing through integrated contracts Contract renewal cycle with two major private banks

Pricing uplift potential

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Assumptions Revenue Estimates
~ ₹2,200 Cr
to
~ ₹2,250 Cr
Overall ATM Base
~ ₹1,575 Cr
to
~ ₹1,625 Cr
ATM O/S Base
~ ₹1,300 Cr
CMS Market Share
FY 25 FY 27 FY 30
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*For overall ATM Platform, excluding WLAs Services revenues only

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FY 30: Retail solutions & currency logistics outlook 11% growth potential

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Drivers
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Assumptions
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Revenue Estimates
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Retail, E-commerce, NBFCs & Banks expanding branches/stores

Expanding the market breadth beyond tier-II

Banks consolidating currency chest operations

Touch Points Growth CMS Market Share

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~ ₹1,050 Cr
to
~ ₹1,100 Cr
~ ₹725 Cr
to
~ ₹750 Cr
~ ₹640 Cr
FY 25 FY 27 FY 30
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FY 30: Technology & payment solutions outlook 20%+ growth potential

ALGO MVS VISION AI Payment Cards	Expand into top 5 banks ~₹2000 Cr TAM in BFSI (bank branch automation opportunity) Non-BFSI segment acceleration Potential in international markets Drivers Growth in new bank accounts opened	No. of ATMs: 68K to 100K Vision AI Points: 30K to 80K (20% CAGR) CMS BFSI Market Share: 25% to 40% Assumption Annual Growth of 7 - 10%	Revenue Estimates FY 25 FY 30 FY 27 ~ ₹240 Cr ~ ₹500 Cr to ~ ₹600 Cr ~ ₹400 Cr Vision AI revenue contribution in this business to increase
			50% to 70%

Vision AI revenue contribution in this business to increase from 50% to 70%

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FY 27 estimates & FY 30 revenue potential

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ATM Retail Technology Total
Management Solutions & & Payment Services
Solutions Currency Solutions Revenues
Logistics
FY 2025
~1,300 ~640 ~240 ~2,180
Revenue (₹ Cr)
FY 2027 ~1,575 - 1,650 ~725 - 750 ~400 ~2,700 – 2,800
Revenue (₹ Cr)
12%
CAGR
FY 2030
~2,200 - 2,250 ~1,050 - 1,100 ~500 - 600 ~3,750 – 3,950
Revenue (₹ Cr)
11% CAGR 11% CAGR 20% CAGR
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CMS 2030 summary

Total services revenues

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~ ₹4,500 - 4,750 Cr
(Incl. inorganic) Aspiration
(REVENUE GROWTH + EBITDA MARGIN > 35%)
~ ₹3,750 - 3,950 Cr
Potential
Strong market consolidation opportunity with
pricing upside
53%
~ ₹2,180 Cr
Retail & Tech
Businesses 42% Maintain high margin quality & ROCE profile
ATM
47%
Management 58%
Solutions Strong capital allocation and reinvest for expansion
FY25 FY30
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*Including inorganic growth

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ANNEXURE

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Experienced board; Seasoned leadership

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Vishnu Jerome
Founding Partner: Jerome Merchant+ Partners;
Former Partner AZB & Partners
Krzysztof Jamroz
Executive Chairman at Roadrunner Vidya Krishnan
Non-Executive Independent
Director, Deputy Managing Director,
SBI Group
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Sunil Mehta
Shyamala Gopinath
Former MD & CEO - PNB,
Former Deputy Governor, RBI
Experienced CEO Indian Banks’ Association
Directors
Rajiv Kaul
Exec. VC, Whole Time Director & CEO
30+ years of industry experience
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Strong Management With Deep Industry Know-How

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Anush Raghavan
Chief Business Officer
15+ years of industry experience
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Pankaj Khandelwal President & CFO 30+ years of industry experience

Puneet Bhirani Chief Operations Officer 25+ years of industry experience

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Sanjay Singh Chief Human Resources Officer (CHRO) 30+ years

Rajeev Bhatia

Chief Information Officer (CIO) 20+ years of industry experience

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Quarterly Consolidated Financial Performance

Particulars (All figures in INR Mn)	Q3’FY26	Q2’FY26	Q-o-Q	Q3’FY25	Y-o-Y
Operating Income	6,182	6,086	1.6%	5,815	6.3%
Expenses	4,786	4,712	1.6%	4,221	13.4%
Operating EBITDA	1,396	1,374	1.6%	1,594	(12.4)%
EBITDA Margins (%)	22.58%	22.58%	0 Bps	27.41%	(483) Bps
Finance costs	45	45	0.0%	47	(4.3)%
Depreciation and amortisation expense	556	482	15.4%	410	35.6%
Other Income	86	109	(21.1)%	117	(26.5)%
PBT before Exceptional Items	881	956	(7.8)%	1,254	(29.7)%
Exceptional Items	111	-	NA	-	NA
Profit before tax	770	956	(19.5)%	1,254	(38.6)%
Tax	196	222	(11.7)%	322	(39.1)%
Profit After Tax	574	734	(21.8)%	932	(38.4)%
PAT Margins (%)	9.29%	12.06%	(277) Bps	16.03%	(674) Bps
Other Comprehensive income for the year	4	(3)	NA	(2)	NA
Total Comprehensive Income for the year	578	731	(20.9)%	930	(37.8)%

YTD Consolidated Financial Performance

Particulars (All figures in INR Mn)	9M’FY26	9M’FY25	Y-o-Y
Operating Income	18,542	18,055	2.7%
Expenses	14,193	13,409	5.8%
Operating EBITDA	4,349	4,646	(6.4)%
EBITDA Margins (%)	23.45%	25.73%	(228) Bps
Finance costs	132	136	(2.9)%
Depreciation and amortisation expense	1,483	1,187	24.9%
Other Income	359	369	(2.7)%
PBT before Exceptional Items	3,093	3,692	(16.2)%
Exceptional Items	111	-	NA
Profit before tax	2,982	3,692	(19.2)%
Tax	739	943	(21.6)%
Profit After Tax	2,243	2,749	(18.4)%
PAT Margins (%)	12.10%	15.23%	(313) Bps
Other Comprehensive income for the year	(1)	(5)	(80.0)%
Total Comprehensive Income for the year	2,242	2,744	(18.3)%

Historical Consolidated Income Statement

Particulars (All figures in INR Mn)	FY23	FY24	FY25	9M’FY26
Operating Income	19,147	22,647	24,245	18,542
Expenses	13,770	16,652	17,977	14,193
Operating EBITDA	5,377	5,995	6,268	4,349
EBITDA Margins (%)	28.08%	26.47%	25.85%	23.45%
Finance costs	196	162	182	132
Depreciation and amortisation expense	1,318	1,502	1,615	1,483
Other Income	147	340	507	359
PBT before Exceptional Items	4,010	4,671	4,978	3,093
Exceptional Items	-	-	-	111
Profit before tax	4,010	4,671	4,978	2,982
Tax	1,038	1,200	1,253	739
Profit After Tax	2,972	3,471	3,725	2,243
PAT Margins (%)	15.52%	15.33%	15.36%	12.10%
Other Comprehensive income for the year	4	(12)	(15)	(1)
Total Comprehensive Income for the year	2,976	3,459	3,710	2,242

Historical Consolidated Balance Sheet

(All figures in INR Mn)	FY23	FY24	FY25	H1’FY26
Assets
Non-current assets
Property, plant and equipment	4,697	4,677	4,842	5,863
Capital work-in-progress	203	147	1,525	1,416
Right-of-use assets	1,826	1,558	1,624	1,693
Goodwill	2,061	2,061	2,061	2,061
Other Intangible assets	109	64	46	212
Intangible assets under development	-	34	119	89
Financial assets
Investments	338	600	1,255	978
Other financial assets	319	481	795	1,456
Deferred tax assets (net)	369	390	399	503
Income tax assets (net)	196	206	77	50
Other non-current assets	112	187	366	579
Total of Non-current assets	10,230	10,405	13,109	14,900
Current assets
Inventories	742	1,269	796	772
Financial assets
Investments	2,455	4,251	4,908	2,414
Trade receivables	5,260	7,197	8,146	10,217
Cash and cash equivalents	963	1,590	2,308	573
Bank balances other than above	599	1,080	648	1,473
Other financial assets	30	99	482	340
Other current assets	733	696	802	1,025
Total of Current assets	10,782	16,182	18,090	16,814
Total Assets	21,012	26,585	31,199	31,714

(All figures in INR Mn)	FY23	FY24	FY25	H1’FY26
Equityshare capital	1,544	1,628	1,644	1,645
Other equity	14,081	17,840	21,021	21,688
Total equity attributable to equity holders	15,625	19,468	22,665	23,333
Liabilities
Non-current liabilities
Financial liabilities
Lease liabilities	1,528	1,281	1,321	1,372
Provisions	211	239	254	300
Other Liabilities	6	82	58	85
Total of Non-current liabilities	1,745	1,602	1,633	1,757
Current liabilities
Financial liabilities
Lease liabilities	505	527	575	596
Trade Payables
Dues of micro enterprises and small enterprises	52	65	102	72
Dues of creditors other than micro enterprises and small enterprises	2,200	3,965	3,399	2,996
Other financial liabilities	597	597	1,935	1,576
Provisions	-	-	-	259
Other current liabilities	32	35	475	606
Total of Current liabilities	255	327	415	519
Total Liabilities	3,642	5,516	6,901	6,624
Total Equity & Liabilities	5,388	7,118	8,534	8,381

Historical Consolidated Cash Flow Statement

(All figures in INR Mn)	FY24	FY25	H1’FY2 6		(All figures in INR Mn) Cash flow from investing activities	FY24	FY25	H1’FY26
Cash flow from operating activities: Profit before tax	4,671	4,978	2,212		Proceeds from sale of property, plant and equipment	23	24	9
Adjustments to reconcile profit before tax to net cash flow:					Purchase of property, plant and equipment,
Depreciation & amortisation on Property, plant and equipment & Intangible asset	1,070	1,151	683		Intangible assets (including CWIP and capital advances)	(1,084)	(1,543)	(1,739)
Depreciationon Right-of-use assets Unrealisedforeignexchange (gain) /loss	432 -	464 (1)	245 (1)		Purchase consideration paid on acquisition of business	-	-	(250)
Leaserent concession Bad and doubtful debts and bad debts written off	- 907	- 367	- 197		Investment in mutual funds and non convertible debentures	(15,408)	(16,461)	(6,889)
Debit balance writtenoff	-	-	-		Proceeds from redemption of mutual funds	13,506	15,389	9,762
ATMCashshortage and claims provision	-	524	249		Loan given to Others	-	-	-
(Profit) ondisposalofproperty, plant and equipment (net) Sundry balances written back Impairmentfordoubtfulclaimsreceivables Bad debts writtenback Insurance claims receivables written off Net gain on lease modification	(12) (22) - - 17 (10)	(24) (30) 35 - 7 (9)	(7) (6) (5) - - (8)		Investment in deposits with banks Proceeds from maturity of deposits with banks (including interest) Interest received Net cash flow (used in) / from investing activities	(1,568) 1,281 - (3,250)	(649) 575 - (2,665)	(664) 331 194 754
Financeincome Profit onsale ofcurrentinvestments	(137) (92)	(203) (151)	(151) (83)		Cash flows from financing activities
Net change in fair value of current investments measured at FVTPL	(64)	(88)	(18)		Proceeds from Issue of Equity Shares Dividend paid	1,154 (1,135)	243 (1,063)	21 (1,027)
Employee stock option compensation cost Finance costs	366 162	307 182	(12) 87		Finance costs	-	(2)	(3)
Operating profit before working capital changes	7,288	7,509	3,382		Loan repayment	-	-	(12)
Movement in working capital					Finance costs on lease liability	(162)	(180)	(83)
Increase / (Decrease) in trade payables and other liabilities Increase / (Decrease) in provisions	1,991 15	(391) (87)	(714) (100)		Payment of principal portion of lease liabilities	(378)	(440)	(235)
(Increase) in inventories	(527)	473	168		Net cash flow (used in) financing activities	(521)	(1,442)	(1,339)
(Increase) in trade receivables (Increase) / Decrease in other assets and prepayments	(2,844) (296)	(1,315) (235)	(2,146) (1,205)		Net (decrease) / increase in cash and cash equivalents	628	718	(1,755)
Cash flow generated from operations Direct taxes paid (net of refunds) Net cash flow from operating activities	5,627 (1,228) 4,399	5,954 (1,129) 4,825	(615) (555) (1,170)		Cash and cash equivalents at the beginning of the year Cash and cash equivalents through acquisition of Subsidiary	963 -	1,591 -	2,309 19

Capital Market Information (BSE: CMSINFO | 543441, NSE: CMSINFO)

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Share Price Movement (Up to 31 [st] December, 2025)
20%
10%
0%
-10%
-20%
-30%
-40%
Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25
CMS BSE Sensex BSE Small Cap
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	Share Price Data (As on 31st December, 2025)	Share Price Data (As on 31st December, 2025)
	Face value (₹)	10.0
	Market Price (₹)	339.5
	52 Week H/L (₹)	540.5/337.0
	Market Cap (₹Mn)	55,838.4
	Equity Shares Outstanding (Mn)	164.5
	Avg. trading volume (‘000)	595.7
	Source: BSE, NSE

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Shareholding Pattern (31 [st] December, 2025)
FII 28.20%
AIF 5.91% Others 39.19%
Mutual Funds
26.70%
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Disclaimer

No representation or warranty, express or implied, is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of CMS Info Systems Limited (CMS), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

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