INVL Technology — Investor Presentation 2021

Sep 9, 2021

NRD Cyber Security

Let's cooperate on securing digital environment!

NRD Cyber Security establishes cybersecurity capacity building practices and enhances cyber resilience to nations and organizations.

The company specializes in the establishment and modernization of cybersecurity teams (CSIRTs) and security operations centers (SOCs) as well as cyber threat intelligence and managed security services.

NRDCS.LT

---

S

NRD Cyber Security

FOCUS

Cybersecurity operations build-out, incident detection and handling, establishment and support of Computer Security Incident Response Teams (CSIRTs) and cyber capacity enhancement at organizational and national levels

CUSTOMERS

Governments, public and private sector organizations

KEY MARKETS

• Central governments
• Critical infrastructure
• Enterprise security
• Intelligence and law enforcement

---

NRD Cyber Security

NRD CYBER SECURITY PORTFOLIO: ORGANIZATIONAL CYBERSECURITY

Comprehensive security check

• Security risk assessment
• Compliance assessment and assurance*
• Cybersecurity maturity assessment
• Cloud infrastructure security assessment
• Penetration and vulnerability assessment
• Business and IT continuity check

Implementation of Security Solutions

• Security software/hardware
• CSIRT/SOC stacks
• Fraud investigation and analytical platforms
• Implementation of ISMS based on ISO 27001
• Information and cyber security strategy, policies and procedures

CyberSOC managed security

• CISO advisory services
• Security incident analysis and threat hunting
• Network intrusion detection
• Log monitoring
• Vulnerability monitoring
• Compliance monitoring*

Training courses

• Cybersecurity essentials
• Information and cyber security risk management
• Open source intelligence
• Intelligence analysis
• Digital forensics
• Incident response
• Internal audit

Emergency security assistance

• Security incident handling
• Digital forensics services

3 | nrdcs.lt

*We use CIS-CSC, NIST CSF, GDPR, ISO 27001, SOC-CMM, SIM3, COBIT, etc.

---

NRD Cyber Security

NRD CYBER SECURITY PORTFOLIO: NATIONAL CYBERSECURITY

Cybersecurity capacity building

• National, governmental and sectorial CSIRT/SOC establishment
• National cybersecurity strategy and legislative framework development
• Development of frameworks for Critical Information Infrastructure(CII) protection
• National cybersecurity maturity capacity assessment

Technology solutions

• Sensors for national Critical Infrastructure (CI)
• Intelligence automation and data modelling
• Open Source Intelligence (OSINT)
• Cyberlabs for digital forensics investigations

Training courses

• Governing cybersecurity at the national level: best practices and lessons learned

4 | nrdcs.lt

---

NRD CYBER SECURITY GUIDING PRINCIPLES

1. UNDERSTAND UNIQUE CLIENT NEEDS
   We allocate time and resources to collect information, analyze and engage with our clients and the context in which our solution or services will be deployed.

2. OFFER EFFECTIVE SOLUTIONS
   We are vendor-independent company which means that we can always offer you several alternative solutions, including open-source and tailor-made, to fit your particular situation.

3. BUILD SUSTAINABLE ORGANISATIONS
   We are not interested in selling you another expensive box that no-one knows how to use. We transfer knowledge, train your team and provide continuous post-project support to create real long-term value to your organization.

4. BE RESEARCH DRIVEN
   We contribute to global cybersecurity research, invest in our own research and development projects and disseminate this information to all our projects. We follow internationally accepted methodologies and standards.

5. USE LOCAL DEPLOYMENT TEAMS
   When delivering projects around the globe, we are organized around special deployment teams that are headed by project leaders experienced in multicultural environments.

---

NRD CYBER SECURITY FINANCIAL REVIEW

1. MAIN ITEMS OF THE INCOME STATEMENT AND BALANCE SHEET
2. KEY FINANCIAL DATA (REVENUE, EBITDA)
3. REVENUE BY COUNTRY
4. REVENUE BY SECTOR AND NUMBER BY COUNTRIES

---

8

NRD Cyber Security

MAIN ITEMS OF THE INCOME STATEMENT

	UAB NRD CS
	6 months of 2020	6 months of 2021
Revenue	962	1 979
Gross profit	496	1 087
EBITDA	41	534
EBIT	(52)	441
Net Profit (Loss)	(57)	432

• NRD CS financial statements for the year ended 2020 are audited, financial results of 6 months of 2021 are unaudited.

MAIN BALANCE SHEET ITEMS

	UAB NRD CS
	2020-12-31	2021-06-30
Tangible assets	181	136
Intangible assets	46	22
Other non-current assets	140	145
Current assets	2 079	3 207
Of which cash	654	770
Total assets	2 446	3 510
Equity	1 390	1 322
Non-current liabilities	57	86
Of which financial debt	57	57
Current liabilities	999	2 102
Of which financial debt	44	22
Total liabilities and equity	2 446	3 510

7 1 nrdcs.lt

---

8

NRD Cyber Security

KEY FINANCIAL DATA

Revenue (thous. EUR)

EBITDA (thous. EUR)

Thous. Eur	2017	2018	2019	2020	6 months of 2021
Revenue	3 493	3 876	2 836	3 229	1 979
EBITDA	603	559	341	434	534

NRD Cyber Security revenue and EBITDA for the first half of 2021 were the highest compared to the first half of the previous year. The trend line for annual revenue and EBITDA is declining, as there is only the first half-year result of 2021 available so far. By the end of 2021, this line is projected to straighten and move in the direction of growth.

8 | nrdcs.lt

---

8

NRD Cyber Security

REVENUE BY COUNTRY

Thous. Eur	6 months of 2020	6 months of 2021	Change
Lithuania	615 (64%)	1 468 (74%)	853
Other countries	347 (36%)	511 (26%)	164
Total	962	1 979	1 017

9 | nrdcs.lt

---

8

NRD Cyber Security

REVENUE BY SECTOR AND NUMBER BY COUNTRIES

2020

Public
Private
Financial
Academic

2019

Public
Private
Financial
Academic

2021 H1

NUMBER COUNTRIES OF OPERATION OF NRD CYBER SECURITY*

• number of countries in which projects have been implemented.

Compared to the previous years, the share of revenue generated by NRD Cyber Security from the financial and private sectors increased in the first half of 2021, while the share of revenue from the public sector shrank.

In the first half of this year, the geography of operations increased significantly due to the technical trainings of CSIRT provided together with Northern Ireland Cooperation Overseas.

10 | nrdcs.lt

---

NRD CYBER SECURITY PROJECTS

1. CSIRT/SOC ESTABLISHMENT
2. NATIONAL CYBER CAPACITY BUILDING
3. TECHNOLOGY SOLUTIONS

---

8

NRD Cyber Security

NRD CYBER SECURITY PROJECTS

CSIRT/SOC ESTABLISHMENT

NATIONAL CYBER CAPACITY BUILDING

TECHNOLOGY SOLUTIONS

• Egypt - Fin-CIRT set up

• Nigeria - Fin-CIRT set up

• ENISA - Development of a methodology for assessing the maturity of cooperation between EU institutions in crisis situations

• Serbia - Cybersecurity ecosystem assessment
• NI-CO - Advanced CSIRT training course
• United Kingdom - National capacity maturity assessment for Rwanda
• Guyana - Saugumo vertinimo paslaugos

• Bhutan - Technical audit of financial management systems

• Egypt - CollectiveSight sensors

12 | nrdcs.lt

---

13 | nrdcs.lt

NRD CYBER SECURITY LONG-TERM GOALS

• NRD Cyber Security long term strategy is to increase shareholders value by transforming from consultancy and integration projects into recurring services and products delivery company for primary (Lithuanian, Western Europe including Nordic, African and Asian) and secondary (North and South Americas) markets

• Our current strengths are:

• Our capability to deliver winning proposals in regions with limited local cybersecurity capacity
• Strong presence in Lithuanian market, which fuels our R&D

• Capacity to align with strong international partnerships

• Our products in development are targeted at:

• Niche global markets (sectorial regulatory cybersecurity automatization)
• Enabling IT MSPs to handle SME’s needs for cybersecurity in effective way
• Mature CSIRT/SOC teams to automate their Cybersecurity Threat Intelligence needs
• Automating Intelligence operations (Open source collection and processing) needs