Exasol AG — Earnings Release 2024

May 7, 2024

Investor Call FY 2023 audited and Q1 2024 figures

Jörg Tewes (CEO) and Jan-Dirk Henrich (CFO)

May 7, 2024

Exasol

Jörg Tewes, CEO

Jan-Dirk Henrich, CFO

Topics for today

• 1. Business Update Q1 2024
• 1. Financial Results 2023 & Q1 2024
• 1. Outlook 2024
• 1. Q&A

Exaso

Disclaimer

This presentation contains future-oriented, forward-looking Statements"), estimates, opinions, projections and forecasts representing the current and views with respect to anticipated future performance of Exasol AG. These assessments, views and Forward-looking Statements are subject to changes. There are uncertain conditions that are for the most part difficult to predict and are beyond the control of Exasol AG is not under any obligation to publish any information resulting in changes in framework conditions or to publish revised information.

The information in this presentation as well as the Forward-looking Statements are of preliminary and may be subject to updating, revision and amendment, and such information may change materially. Neither tors, officers, employees, agents or affiliates under any duty to update this presentation or to correct any inaccuracies in any such information which may become apparent or to provide any additional information.

The Forward-looking Statements can be identified by the use of forward-looking the terms "believes", "estimates", "anticipates", "expects", "intends", "predicts", "may", "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These Forward-looking Statements include all matters . They appear in a number of places throughout this presentation and include statements beliefs or current expectations concerning, among other things, Exasol's prospects, growth, strategies, the industry in which it operates and potential or ongoing acquisitions. By their nature, Forward-looking Statements involve significant risks and uncertainties, because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking Statements of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved.

Business Update Q1 2024

Summary of key points

FINANCIALS Q1 2024 ( )

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Outlook 2024 (unchanged)

Launched in Q4 2023

Introducing Exasol Espresso, the next-gen, in-memory analytics database that's faster than anything else on the market.

Designed for speed from the ground up, Espresso brings an in-memory, columnar database, Massively Parallel Processing (MPP) architecture and auto-tuning to turbocharge even the most complex queries and deliver better insights at blazing speed.

Exasol's speed, scalability, and price/performance have dominated the TPC-H benchmarks since 2008. The latest benchmark (2021) was completed with three database sizes: 10TB, 30TB, and 100TB. Exasol's price/performance results are: 10TB: \$68.79 kQphH, 30TB: \$84.95 kQphH, 100TB: \$178.9 kQphH

Exasol's Product Offerings

Exasol's offerings scale to address our customers' pain points. From Bl acceleration to full data warehouse solutions, Exasol's products help achieve faster, deeper, and cheaper data analytics

Espresso	Espresso Plus	Exasol Data Warehouse
	Bl Acceleration
	"I have a spinning wheel problem with my BI tool."
	Consumption Layer
	"I have a database performance and/or cost issue."
	Data Warehouse
	"I need a high-performance data warehouse for my division."
		Exasol

ARR momentum in key vertical: Financial Services

Exasol has demonstrated recent major successes by winning key customers in financial industry

March 2024	Financial Service provider (EMEA)	Upsell: Increase of data volumes	0.4 m€
2024	March Financial Service provider (EMEA)	Upsell: Increase of data volumes	0.1 m€
March 2024	Bank (DACH region)	New Logo: Bank won through Partner Network	0.1 m€
March 2024	Financial Service provider (US)	Upsell: Upgrade support	0.1 m€
April 2024	Financial Service provider (US)	New Logo: Won through direct sales	0.2 m€

Al driven Customer Needs

Al is going to transform the way customers work with data, and the best tools need to focus on the key aspects of making AI/ML adoption successful

• · Integrated Bl & Al Workloads: proliferation of Generative Al will further explode data workloads, increase complexity of the workflows, and require to efficiently handle Bl & Al workloads in an integrated fashion
• Data Privacy: requirements around security and data privacy will become indispensable for heavily requlated industries
• Accuracy & Transparency: ubiquity of Al will require data & analytics systems to be more accurate than ever in generating insights in a transparent way

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Exasol

• Scalability & Efficiency: high data workloads, Al penetration will demand data & analytics systems to be cost and energy efficient to be scalable and highly performant
• · Integrated Solutions: Especially SMBs and organizations without dedicated Al experts require an integrated solution without platform lock-in

Al driven customer needs play to proven strengths of Exasol's technology. We are evolving our product offering to seamlessly integrate into this evolving Al analytics landscape.

Exasol has introduced 3 offerings in the Al space in 2024 to make Al more accessible to Enterprises

Financial Results FY 2023 Audited

Results 2023 FY – Preliminary vs Audited

In EUR million, in percent

	FY 2023 audited	FY 2023 preliminary	く	FY 2023 audited	FY 2022 audited	0%
Revenue	35.1	35.4	-0.3	35.1	33.2	5.7
thereof recurring	34.1	34.1	0.0	34.1	31.5	8.2
thereof non-recurring	1.0	1.3	-0.3	1.0	1.7	-41.2
Gross Profit	35.5*	35.5*	0.0	35.5* (33.7)	31.5	7.0
Gross Profit Margin				101%* (95%)	95%	+/- 0
Personnel expenses (adj.)	-29.4**	-29.4**	0.0	-29.4**	-28.7	+2.4
Other expense (adj.)	-11.5	-11.5	0.0	-11.5	-16.2	-29.0
Total Costs (adj.)	-40.9	-40.9	0.0	-40.9	-44.9	-8.9
EBITDA (adj.)	-5.4	-5.4	0.0	-5.4	-13.4	-59.7
EBITDA Margin				-15.4%	-40.4%
EBITDA reported	-5.7	-5.7	0.0	-5.7	-12.2	-53.3

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* incl. 1.8 m€ other operating income from granting of R&D subsidies by ministry of finance for FY2020-2022 ; numbers und brackets are adjusted for this effect ** incl. restructuring expenses of 1.5 m€ in 2023

ARR development end 2023 – Global

In EUR million at const. Q4 2022 FX rates, in percent

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Financial Results Q1 2024

Quarterly ARR development in 2023/2024

In EUR million at const. FX and methodology, in percent, # of customers

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ARR development by region

In EUR million at const. FX and methodology, in percent

ARR development end Q1 2024 – Global

In EUR million at const. FX and methodology, in percent

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Development of LTM ARR Churn Rate

In percent

• Benchmark Data from OpexEngine, a leading database of SaaS/Software performance metrics operated by Bain & Company
• Relevant Peer-Group chosen: Hybrid Deployment B2B Software Providers in the revenue range of 40m EUR
• Current Exasol churn levels overall in line with elevated churn dynamics in industry

P&L 2023/24 by quarter

In EUR million, in percent

	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q1 24 vs Q1 23
Revenue	8.8	9.0	8.5	9.1	9.9	13%
Gross Profit*	8.1	9.5*	8.1	9.8*	9.3	15%
Personnel expenses (adj.)	-7.2	-7.7**	-6.6**	-8.2**	-6.7	-7%
Training and Recruiting	-0.1	-0.1	-0.2	-0.1	-0.1	0%
Marketing	-1.0	-0.9	-0.5	-0.5	-0.4	-60%
IT infrastructure	-0.6	-0.6	-0.6	-0.6	-0.8	33%
Others (adj.)*	-1.4	-1,4	-1.0	-1.6	-1.1	-21%
Total Costs (adj.)*	-10.3	-10.7	-8.9	-11.0	-9.1	-11%
EBITDA (adj.)	-2.2	-1.2	-0.7	-1.3	0.3

* incl. other operating income from granting of R&D subsidies by ministry of finance for FY2020-2022 (net 0.9 m€ in Q2 2023 and net 0.9 m€ in Q4 2023)

** incl. restructuring expenses of 1.5 m€ total 2023

EBITDA to cashflow reconciliation Q1 2024

In EUR million

0.3

Liquid Funds and adj. EBITDA

In EUR million

2024 Outlook

Financial Outlook 2024 unchanged

	2023	2024
ARR growth	18%	Up to 10%
Revenue Growth	6%	10 - 15%
EBITDA	-5.4 m€ (adj.)	positive
Liquid Funds	13.3 m€	> 10 m€

Financial calendar

	February 8	HIT Conference (Hamburg)
	February 21	FY '23 preliminary results (Webcast & Roadshow)
2024	May 7	Annual Report 2023 & Q1 '24 trading update (Webcast)
	13/14 May	Spring Conference (Frankfurt)
	June 20	Annual General Meeting (virtual)
	August 14	H1 '24 report (Webcast & Roadshow)
	November 13	Q3 '24 trading update (Webcast & Roadshow)
	November	EK-Forum (Frankfurt)

Thank you