INVL Technology — Investor Presentation 2021

Apr 27, 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

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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

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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

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

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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

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NRD CYBER SECURITY GUIDING PRINCIPLES

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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.

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.

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.

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.

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.

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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

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NRD Cyber Security

MAIN ITEMS OF THE INCOME STATEMENT

	UAB NRD CS
	2019	2020
Revenue	2 836	3 229
Gross profit	1 345	1 519
EBITDA	341	434
EBIT	218	250
Net Profit (Loss)	232	321

• NRD CS financial statements for the year ended 2020 are audited.

MAIN BALANCE SHEET ITEMS

	UAB NRD CS
	2019	2020
Tangible assets	292	181
Intangible assets	92	46
Other non-current assets	213	140
Current assets	1 156	2 079
Of which cash	465	654
Total assets	1 753	2 446
Equity	1 069	1 390
Non-current liabilities	101	57
Of which financial debt	101	57
Current liabilities	583	999
Of which financial debt	42	44
Total liabilities and equity	1 753	2 446

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NRD Cyber Security

KEY FINANCIAL DATA

Revenue

EBITDA

Thous. Eur	2016	2017	2018	2019	2020
Revenue	1 577	3 493	3 876	2 836	3 229
EBITDA	110	603	559	341	434

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NRD Cyber Security

REVENUE BY COUNTRY

Lithuania
Norway
Bangladesh
Cyprus
South Africa Republic
Denmark
Switzerland
Other

Thous. Eur	2019 y. 12 months	2020 y. 12 months	Change
Lithuania	1 801 (64%)	2 490 (77%)	689
Other countries	1 035 (36%)	739 (23%)	(296)
Total	2 836	3 229	393

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NRD Cyber Security

REVENUE BY SECTOR AND NUMBER BY COUNTRIES

2018

2019

2020

NUMBER COUNTRIES OF OPERATION OF NRD CYBER SECURITY *

Over the past three years, NRD Cyber Security has been able to diversify its operations more, increasing the number of customers in the private business sector. Revenues from financial sector customers have also increased over the past two years as more and more government and commercial banks decide to purchase the services and products provided by NRD Cyber Security (Cyber SOC, CSIRT services, own products). The significant increase in income from the academic sector during 2020 is associated with the ongoing project for the Lithuanian State University.

• number of countries in which projects have been implemented.

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NRD CYBER SECURITY PROJECTS

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

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NRD Cyber Security

NRD CYBER SECURITY PROJECTS

CSIRT/SOC ESTABLISHMENT

NATIONAL CYBER CAPACITY BUILDING

TECHNOLOGY SOLUTIONS

• Egypt
  Fin-CIRT set-up
• Afghanistan
  CERT maturity assessment

• Nigeria
  Fin-CIRT set-up

• ENISA
  Revising CSIRT/SOC establishment methodoly

• Serbia
  Cybersecurity ecosystem assessment

• European Investment Bank(EIB)
  Development of cybersecurity project qualification methodology

• Cyprus
  Cyber sensor technology

• Egypt
  CollectiveSight platform
• Lithuania
  Various Technological Solutions

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NRD CYBER SECURITY R&D AREAS (PRODUCT DEVELOPMENT

1. OPEN-SOURCE INTELLIGENCE TOOL: INTEYE
2. SOLUTION THAT WILL HELP MONITOR CYBERSPACE: COLLECTIVESIGHT, CYSYSTEM
3. SYSTEM FOR MSSP SERVICE: CYBERSET

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NRD CYBER SECURITY R&D AREAS (PODUCT DEVELOPMENT)

IntEye open-source intelligence tool is a unique solution for more efficient and high-volume data processing and faster decision-making. A product prototype was completed in 2020.

• Selling to law enforcement and defense organizations;

(Thousand Eur)	Plan 2018 - 2020	Fact 2018 - 2020
Total Cost	1 009	907
EU Funding	459	413
NRD Cyber Security Funding	550	494

Solution that will help monitor cyberspace, promptly detect and warn of network anomalies.

• Version 1 sold (CollectiveSight): Bangladesh, Cyprus, Egypt. Modified for CyberSOC use;
• Version 2 under development (CySystem) will be available from 2021;

(Thousand Eur)	Plan 2019 - 2021	Fact 2019 - 2020
Total Cost	1 122	841
EU Funding	676	543
NRD Cyber Security Funding	446	298

CyberSet is a set of technologies, methods, and processes that allow you to run an MSSP service quickly and cheaply.

• System will be developed for MSSP suppliers to automate processes in serving SME customers;

(Thousand Eur)	Plan 2020 - 2022	Fact 2020
Total Cost	1 613	63
EU Funding	979	41
NRD Cyber Security Funding	634	22

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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