CY4GATE S.p.A.

Earnings Release • May 15, 2025

Cy4Gate Q1 2025 Financial Results

May 15, 2025

AGENDA

➢ Q1 2025 Financial Results

➢ Strategy & Outlook

EMANUELE GALTIERI ARIANNA CICCOLELLA

ALESSIA PISONI

CEO & General Manager

CFO

Head of Group FP&A & Investor Relator

Q1 2025 Highlights

The results of the first quarter of 2025 confirm the soundness of the CY4Gate Group. It continues on its path of consolidation driven only by organic growth. 2025 As of March 31, 2025 New orders acquired amounts to €32.2 million, + 115% vs Q1 2024. As of May 12, 2025, Total Backlog stands at €73 million.

The Value of Production compared to the first quarter of 2025 grows by 11% thanks to the forensic intelligence and cybersecurity business lines. Defence sector, driven by the current conflict conditions, will continue to contribute significantly to institutional business. Profitability up significantly to 7.5% (+7.2 pp vs LY)

The Group continues to pursue its strategy to deseasonalize the business, also thanks to the creation of an important backlog with the closing of significant contracts in terms of amount and profitability, with multi-year duration. Guidance 2025 in the range of €84-87 million

Q1 2025 Economic Key Data

• Revenues amounted to € 16.3 million, + 11% compared to 31 March 2024 (€ 14.7 million), mainly driven by the excellent performance of the Forensic Intelligence and Cybersecurity segments.
• Sound profitability (7.5% on turnover; +7.2 pp vs LY) mainly thanks to top line growth
• Net Loss equal to € 5.3 million, slightly better compared to the Q1 2024 Loss (€ 5.5 million)

6

• R&D Costs approximately -8% vs Q1 2024

1. Including other operating revenues

2. EBITDA: calculated by adjusting the result for the year to exclude the effect of taxes, net financial income (expenses), depreciation, amortisation, write-downs and value adjustments of financial assets, as well as charges deemed by the Group to be non-recurring and extraordinary, mainly related to M&A activities; EBITDA Margin equal to 7.5% vs 0.3% in Q1 2024 (+7.2 pp) Q1 2024 Restated for PPA of XTN

Q1 2025 Revenues Breakdown

By business line By geographical area

Q1 2025 People Investment

Total personnel increased in the first quarter of 2025 by a total of 5 resources:

• +3 resources in engineering
• +2 resources in commercial & staff

Q1 2025 Financial Key Data

• Fixed Assets decreasing due to lower investments (mainly intangible assets)
• Net Working Capital reduction due to the positive collections and payments dynamics over the time
• Net Financial Position improvement of €1.3 million mainly due to the positive cash generation, net of payments for investments
• Equity decreasing mainly due to the negative Net Result Q1 2025

Our growth Strategy: Actions

2025-2026

• Consolidate our relationships with ELT by working to acquire orders in a thriving business
• Take part to international consortia or JVs for pluriannual defence programs
• Capture EU funds (NATO, EDA, ESA) for R&D in the cyber also through industrial partnership
• Continue scouting for M&A opportunitiesin cybersecurity sector
• Further strengthen the company in the domestic market by focusing on proprietary products for telematics
• Progressively gain relevant shares and presence in the more stable European region
• Ensure stable growth in the Spanish market leveraging on our pluriannual presence in the Country , to maintain and develop Cy4 second domestic market for revenues after Italy.
• Continue scouting for M&A opportunities in cybersecurity sector
• Increase Italian Market position leaveraging an already created brand awarness, dedicated sales force and channels to expand pipline and its conversion rate
• Expand business to new geographies in E.U. mainly in Western Europe, partnering with foreign channels and fostering development of an international sales team
• Continue scouting for M&A opportunities in cybersecurity sector

Defence

Security & Law Enforcement

Corporate

Our growth Strategy: Market

Cy4Gate Group portfolio – cyber intelligence & cyber security products - perfectly fits with the following 3 fast growing markets, both in Italy and abroad:

Defence

Security & Law Enforcement

• Increasing internal and external security threats and undergoing military network-centric modernization;
• Market CAGR 8% predicted to grow to 1350B\$ in 2030 from 750B\$ (2022).
• Extra boost thanks to the new "Readiness 2030" Plan
• Digital crime via digital/electronic devices is LEAs biggest challenge; AI is a key enabler;
• Market is globally growing at 9% CAGR up to 2028;
• Need for cases management, track evidences, data gathering and correlation, creation of reports.
• Double digit growth for digital transformation market (around 20% CAGR to 2027);
• Cyber security market is underpenetrated in terms of for SMEs, targets of massive attacks.

Products involved

• Decision Intelligence & AI (Quipo) for C2 platforms
• ▪Cyber security products and services bundle (RTA, Diateam, CTI, customization services)
• Decision Intelligence & AI (Quipo & Mito) for data gathering and correlation ▪Forensic Intelligence suite
• Decision Intelligence & AI (Quipo)

▪Cyber security products and services bundle (RTA, Diateam, CTI, XTN, Services) for a 360° capabilities coverage

Outlook 2025

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Headquarter

Via Coponia, 8 00131 Rome - Italy

Investor Relations Officer Alessia Pisoni investors@cy4gate.com

Investor Relations Advisor CDR Communication silvia.dirosa@cdr-communication.it luca.gentili@cdr-communication.it