Performance Technologies A.E. — Investor Presentation 2026

Apr 7, 2026

performance

Performance Technologies Full Year 2025 Results

April, 2026

Think Ahead.

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performance

Disclaimer

This presentation contains forward-looking statements that reflect the current expectations and beliefs of Performance Technologies' management with respect to future events, including expected developments of in revenue, earnings, profitability, cash flows, strategic initiatives and personnel-related measures. Forward-looking statements are subject to numerous risks, uncertainties and assumptions, most of which are difficult to predict and are generally beyond Performance Technologies' control. As such, forward-looking statements are not guarantees of future performance and should be considered with caution.

If these or other risks and uncertainties materialise, or if the assumptions underlying any of the forward-looking statements prove incorrect, our actual performance may materially differ from the performance expressed or implied by these statements. We can offer no assurance that our estimates or expectations will be realized. Except as required under applicable capital markets law, we do not assume any obligation to update forward-looking statements to reflect future occurrences or information that is not current as of the date of this presentation.

In addition to figures prepared in accordance with IFRS, Performance Technologies also presents alternative performance measures, including, among others, Adjusted EBITDA, Adjusted EBITDA margin, Normalised Free Cash Flow, Gross Free Cash Flow, and Net Cash Position. These alternative performance measures should be considered in addition to, but not as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or other generally accepted accounting principles. Other companies may define these terms differently.

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performance

FY 2025 Key Highlights

• 8th consecutive year of organic growth
• Strong top line performance was supported by:
• Further Diversification of Client Base
• +400 Active Clients / +90 new clients added within 2025
• Public sector emerging as another growth pillar
• Technology Leadership Validated by Top-Tier Industry Recognition:
• Microsoft Partner of the Year for Greece
• ServiceNow Elite Partner for Greece and Cyprus
• IBM Hybrid Cloud Partner of the Year
• Cyber Security Services Provider of the Year
• Profitability Accelerated Faster than Revenue on the back of: Higher-Value services / Cost control / Operating leverage
  (Adj. EBITDA +37.1% YoY - Net Profit +44.2% YoY)
• Strong balance sheet – €17.6M cash to support sustainable growth both organically and through rising M&A opportunities
• 2026 outlook: Enhanced visibility for sustained growth
• Accelerating managed/recurring services
• Backlog of €53.3M at the end of 2025 (vs € 31.9 M in 2024)

| €89.4M
Revenue
+20.6% YoY |
| --- |
| 33%
Gross Margin
Record High |
| €12.8M
Adj. EBITDA
+37.1% YoY |
| €7.3M
Net Profit
+44.2% YoY |

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Strong growth & sustained profitability

performance

Revenue

Gross Profit

Adj. EBITDA

• Strong top line growth, supported by effective expansion of client portfolio across private & public sector
• Focused on Healthy Margin business and Cost Discipline - resulted in record-high Gross and EBITDA margin

Reported currency, € m

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Client Growth & Diversification

performance

Expanding our Client Portfolio for further Growth and Diversification...

of clients producing the 80% of annual Revenue

Significant new business penetration

Strong new portfolio of clients to offer our solutions:

+90 New clients added in 2025

~400 Total active clients in portfolio

30% of invoiced clients in 2025 not having been billed in 2024

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performance

Positioned / Diversified across sectors

Revenue Breakdown per Sector

| % of Revenue: (from 2022 to 2025) | from 43%
to 41% | from 8%
to 19% | from 25%
to 11% | from 7%
to 13% | from 4%
to 7% | from 6%
to 5% | from 0%
to 2% | from 8%
to 7% |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue Growth
Per Sector (2022-2025) | +27%
CAGR | +72%
CAGR | +0%
CAGR | +34%
CAGR | +59%
CAGR | +24%
CAGR | +123%
CAGR | +27%
CAGR |
| Amounts in € m | 34
25
18 | 17
9
3 | 10
13
10 | 3
5
6
7 | 2
4
4
6 | 2
4
5
5 | 0
1
2
2 | 3
5
5
7 |
| | Banking | Energy | Telco | Commercial
2022
2023 | Public
2024
2025 | Industry | Insurance | Other |
| Well Diversified and within sectors: | Eurobank, NBG, Alpha Bank, Piraeus, Optima, Credia Bank, Bank of Cyprus | Motor Oil, METLEN, PPC, DEDDIE, HELLENIQ Energy, HERON | OTE Group, NOVA, Vodafone, CYTA | Sklavenitis, Kritikos, Fourlis, Public, Kotsovolos | AADE, Hellenic Police, EYDAP, OSE, EFKA, Ministry of Citizen Protection | Titan Group, Viohalco Group, GEK TEPNA, CCH, Frigoglass | Ethniki Insurance, Interamerican, Eurolife, Groupama, Genikes Insurance | Thenamaris, Allwyn (Opap), Athens Int Airport, Aegean Airlines, Metro |

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Public Sector emerging as another growth pillar

2025 – Significant new public sector projects

AAΔE
Ανεξάρτητη Αρκή
Δημοσίων Εσόδων

Implemented an integrated platform combining project management, IT services, and software development lifecycle, enhancing governance, transparency, and operational efficiency.

Implemented a case management system enabling secure handling of complex investigations, workflow automation, and full auditability.

Delivered AI and cloud solutions for a national health monitoring platform, enabling data-driven insights and improved public health decision-making.

EYAAI

Modernized infrastructure with an HPE GreenLake-based IaaS platform, enabling scalable, flexible, and efficiently managed compute and storage resources.

Delivered a high-performance computing platform enabling advanced research, AI development, and scalable data processing.

Provided advanced blockchain analytics capabilities to support investigation of financial and cybercrime, enabling asset tracing and fraud detection.

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Revenue per Category

performance

Shifting our business model towards Higher-Value offerings ...

Together now represent the 75% of 2025 Revenue

Hardware

% of Revenue: (from 2023 to 2025)

Revenue CAGR Per Category:

from 37% to 25%

+2% (2023-2025)

Software

from 37% to 42%

+33% (2023-2025)

Services & Training

from 26% to 33%

+40% (2023-2025)

Reported currency, € m

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Managed Services & Recurring Revenue

performance

Building long-term, predictable cash flow streams

Gross Profit Segmentation: One Off vs Recurring

• 36–60 month contracts driving recurring, predictable revenue
• Revenue streams: consumption, SLA support, cloud ops & cybersecurity
• Strong AWS/Azure resale + high-margin managed services layer
• 24/7 SOC & NOC enabling continuous monitoring
• €6.5M+ new managed services contracts signed in 2025

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Technology Leadership

Validated by Top-Tier Industry Recognition

By market experts:

Awards at leading industry events such as Cloud Computing Awards 2025, Digital Finance Awards 2025 & 2026, BITE Awards 2025, Data & AI Awards 2025, Cyber Security Awards 2026

By leading IT vendors:

Performance is a top tier partner for world-leading IT vendors and continuously strives to improve.

Platinum & Gold (Data analytics & AI for law enforcement)	Gold (ServiceNow Platform for Continuous Business Improvement)	Gold (Data Management Platform)	“Hybrid Cloud Award” at IBM Ecosystem Summit	“Top Partner from Edge to Cloud – Greece”
EONIKH
TPAΠEZA	Piraeus	COSMOTE	servicenow	Microsoft
“Microsoft Partner of the Year 2025”
Gold (GenAI, Real-Time Analytics, Customer Service)	Silver (Next-generation Enterprise Service Management Platform)	Gold Award (Private Cloud Infrastructure)	Greece’s first Elite Partner in Consulting & Implementation

performance

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Backlog evolution

performance

Contracted Backlog (€M)

Outstanding value of signed IT contracts

Year End 2025 Backlog

€53.3M

2025 Backlog by Maturity

Within 12 months €34.4M 64.5%
12 – 24 months €13.2M 24.8%
Over 24 months €5.7M 10.7%

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Revenue Growth + Margin Expansion Story
performance

Gross Margin
33 %
supported by:
(a) Robust Top line Performance
(b) Mix shift on Higher-Value services (higher Gross Margin)

Consolidated Income Statement Summary (€ M)	2024	2025	YoY Chg.
Revenue	74.2	89.4	+20.6%
Gross Profit	23.2	29.5	+27.1%
Gross Margin	31.3%	33.0%	+170bps
Adj. EBITDA	9.3	12.8	+37.1%
EBITDA Margin	12.6%	14.3%	+170bps
EBIT	7.3	10.1	+38.1%
EBT	6.9	9.6	+38.9%
Net Profit (EAT)	5.0	7.3	+44.2%
Net Margin	6.8%	8.1%	+130bps

Notes:
- Gross Margin: 33.0% Record High
- EBITDA Margin: 14.3% +170bps
- Net Margin: 8.1% +130bps

Note: EBIT / EBT / EAT include €1.45M stock award programme charge in 2025 (€1.01M in 2024). Adjusted EBITDA excludes this item.

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Performance

Summarized Group Cash Flow

(€M)	FY2024	FY2025	Change
Operating CF before Working Capital	9.3	13.0	+3.7
Working capital — Receivables	(5.2)	(9.8)	-4.6
Working capital — Payables	3.7	3.9	+0.3
Working capital — Inventories	(0.3)	(0.1)	+0.1
Operating CF after Working Capital	7.5	6.9	-0.6
Interest paid	(0.3)	(0.4)	-0.0
Income tax paid	(1.1)	(1.8)	-0.8
Reported Net Operating Cash Flow	6.1	4.8	-1.3
CapEx (tangible & intangible assets)	(1.2)	(2.2)	-1.1
Reported FCF	4.9	2.5	-2.4
Normalized FCF (ex-WC movements)	6.8	8.6	+1.8
Gross FCF (EBITDA – CapEx)	8.2	10.5	+2.4
M&A or other investments	(0.5)	(0.0)	+0.5
Interest received	0.1	0.0	-0.1
New borrowings	2.0	3.8	+1.8
Loan repayments	(1.0)	(1.2)	-0.2
Lease repayments (incl. interest)	(0.4)	(0.5)	-0.1
Dividends paid	(0.9)	(1.6)	-0.7
Share buybacks	(0.4)	(0.4)	-0.0
Net Change in Cash	3.9	2.7	-1.2
Closing Cash	15.0	17.6	+2.7

Operating CF before WC: € 13M (+39%)

Strong EBITDA growth (+37%) drives a 39% improvement in operating cash generation before working capital movements — excellent underlying cash generation quality

WC: -€6.0M (vs -€1.8M in FY24)

Receivables absorbed €9.8M driven entirely by Q4 back-loading (36.9% of FY revenue in Q4). Payables +€3.9M partially offsets. Timing effect, not credit deterioration.

CapEx up +€1.1M to €2.2M (2.5% of rev)

Related to infrastructure investment for managed services delivery. CapEx/revenue remains low supporting asset-light model.

Normalised FCF +26% to €8.6M

Excluding WC fluctuations, Normalised FCF grew +26% — reflecting strong underlying conversion from earnings to cash. Gross FCF (EBITDA–CapEx) grew 29% to €10.5M.

All figures Group level (€M).

Normalized FCF = Op CF before WC – Interest paid – Tax paid – CapEx.

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Balance Sheet - Dividend

performance

Consolidated Balance Sheet	2024	2025
€ M
Non-current assets	5.7	7.2
Current assets	53.3	66.0
of which: Trade receivables	28.0	38.5
of which: Cash & equivalents	15.0	17.6
TOTAL ASSETS	59.0	73.3
Total equity	28.8	35.6
of which: Attributable to shareholders	28.5	35.1
Long-term liabilities	2.5	4.8
of which: Bank debt (LT)	1.6	3.8
Short-term liabilities	27.7	32.9
of which: Trade payables	17.1	16.8
of which: Bank debt (ST + current LT)	1.9	2.2
TOTAL EQUITY & LIABILITIES	59.0	73.3
Net Cash Position	10.5	10.5
Total bank debt (incl. leases)	4.5	7.1

Strong Liquidity to finance future growth

Cash & equivalents: €17.6M: strongest year-end balance in company history (+18% YoY).

This record high was achieved despite the fact of Q4 revenue concentration (36.9% of FY) that drove €9.8M receivables build-up — a timing effect

Leverage – Equity

Total bank debt (incl. leases): €7.1M — up from €4.5M, driven by €3.8M new LT facility to fund managed services infrastructure

Net Cash at € 10.5M — balance sheet remains effectively unlevered

Total equity: €35.6M — grew +€6.8M driven entirely by retained earnings

Dividend

As a result of the strong balance sheet, an increased total dividend was proposed for FY2025 earnings

Proposed dividend for FY2025: ~€2.0M gross (+32% YoY), in line with the 35% of parent company net profits (€5.7M), representing 28.61% of Group profits, subject to AGM approval on May 2026.

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Our vision for 2026-2028

performance

• Deliver similar growth rate, driven by digital transformation, AI, and regulatory demand
• Increase recurring revenues through managed services and long-term contracts
• Scale Data & AI capabilities, expanding advanced analytics and GenAI solutions
• Execute disciplined M&A to strengthen Cybersecurity, AI/Data, and consulting offerings
• Drive selective geographic expansion across Balkans and Southeast Europe
• Strengthen technology partnerships and invest in innovative, resilient solutions

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Investing in Talent

performance

Headcount (Group)

FY2025 Breakdown

Company	+45 new hires	+18.2%
Group	+50 new hires	+18.4%

How We Grow Our People

Performance Academy

Structured onboarding & training for new engineers — from internship to full hire.

University Partnerships

Long-term collaborations to attract top graduates and shape future tech talent.

Stock Award Programme

74 key executives rewarded with free shares

Strategic Expertise Areas

Targeted hiring in Cloud, Data & AI, Cybersecurity, ESM

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Performance

Acquisition of Ascentum - HQ

Securing the HQ, Eliminating Lease Risk

Ascentum is a Greek real estate company that owns the 1,197 m² office building at Kerameikos, Athens — the premises that serve as Performance Technologies' corporate headquarters. Prior to the acquisition, Ascentum was leasing these premises to Performance under a commercial rental agreement, generating ~€91,000 in annual rent — a cash outflow that will now be permanently eliminated from the Group's cost base.

Deal at a Glance
€1.5M
Purchase Price
(all cash)	100%
Stake Acquired	6 Mar 2026
Completion
Date
1,197 m²
Total Area
(Kerameikos, Athens)	4 levels
2 basement + GF
+ 1st floor	~€91K/yr
Annual Lease
Savings (EBITDA+)
Implied Valuation per m²
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€1,253/m²

NOT a real estate strategy — one-off, asset-light

This is an operational decision, not a pivot to property investment. The Group's asset-light, high-EBITDA model remains fully intact.

Supports the core operations that generate our ROE

This is not a yield investment — it is a strategic move that supports the continuity and efficiency of the core operations which generate Performance’s >20% RoE, reducing operational risks and delivering long-term cost stability.

Direct, recurring P&L improvement — + €91K/yr to EBITDA

Lease savings flow directly into EBITDA and cash flow, with long-term cost predictability.

Financially immaterial — balance sheet stays strong

€1.5M = ~2% of total assets (€73.3M).

Strong balance sheet profile remains fully intact.

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performance

Strong Momentum, Clear Path Ahead

• 8th consecutive year of growth
• Strong performance across all key metrics (Revenue, EBITDA, Net Profit – double-digit growth)
• €53.3M backlog
  supporting strong visibility into 2026
• Robust balance sheet
  €17.6M cash available to fuel growth and M&A opportunities

€89.4M
Revenue
+20.6% YoY

33%
Gross Margin
Record High

€12.8M
Adj. EBITDA
+37.1% YoY

€7.3M
Net Profit
+44.2% YoY

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Appendix

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Direction, people, and numbers

Performance at a glance

Board of Directors

Dionisis Hintzidis
President & CEO

Andreas Tsangaris
VP & CTO

Andreas Kiagias
CFO

Michalis Melis
Non-executive VP

Eleni Papakonstantinou
Independent member - Lawyer

Mania Ghini
Independent member

Markos Komondouros
Independent member

People first, with engineering ethos

Profitability based on high % of recurring revenue

320+
Employees
689,4m
Revenue 2025

210+
Engineers &
Data Scientists
23,4%
Revenue CAGR
2020 – 2025

200+
Certified IT
Professionals
26,2%
Gross Profit CAGR
2020 – 2025

700+
Advanced
Certifications
21,7%
EBITDA CAGR
2020 – 2025

330+
Transformation
Workshops
20,5%
RoE 2024

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Our Group at a glance

Performance Technologies

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Growth in Cyprus

M

Total Sales and Cyprus Contribution

Reported currency, € m

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Strategic Positioning

People · Segments · Portfolio · Experience

Right People and leadership

• Access to strong talent, current and growing
• Visionary leadership
• Engineering ethos

Right Markets and timing

• Cloud, Security, Analytics & AI, Digital Processes and IT megatrends
• Prominent clientele in key sectors, helping their transformation journey

Right Platform and value-add

• Portfolio allows us to be one-stop transformation partner for customers
• Robust value-added services
• We simplify complexity, and enable customers to focus on core competencies

Right Experience and track record

• 30+ years in IT sector
• Trusted partner for enterprises seeking to reinvent themselves through digital
• Consistent growth through timely investing and anticipation of market opportunities

performance

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ESG & CSR Governance

ESG & Corporate Responsibility

• Integrated ESG strategy aligned with GRI, CSRD, and Athens Stock Exchange guidelines.
• Voluntary Sustainability Reports published since 2022; from 2025 with double materiality assessment.
• Compliant with Greek Climate Law (GHG Emissions Report from FY 2024).
• Partnership with Dataphoria for ESG data tracking via Analytics-as-a-Service platform.
• Active support for social causes, environmental initiatives, and energy-saving practices.
• Plans underway for renewable energy self-production.

E

performance

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Accelerating growth, improving profitability, conservative financial management

m

Consolidated Financial highlights

All values in thousands of €

Fiscal Year	2020	2021	2022	2023	2024	2025
Revenue	31.312	38.045	41.913	57.722	74.167	89.447
Gross profit	9.228	11.251	12.928	17.673	23.221	29.508
EBITDA	4.385	5.256	5.203	7.151	9.317	12.774
EBITDA margin	14%	14%	12%	12%	13%	14,3%
CAPEX	743	450	678	546	1.159	2.238
Operating cash flow	2.393	5.270	-1.514	7.259	6.103	4.756
Intangible assets	533	405	419	418	502	827
Equity	8.054	16.242	19.858	23.915	28.805	36.193
Return on Equity	44%	27%	19%	20%	19%	20,5%
Net working capital	7.507	16.182	17.299	21.438	25.603	33.773
Net debt	2.458	-6.901	-3.019	-8.640	-11.500	-11.584
Dividends	365	500	583	729	1.511	1.999 (*)

(*) The dividend for FY 2025 will be finalized by decision of the General Meeting (Board Proposal ->> Profit after taxes of the Parent Company: 5.711.677 * 35% = 1.999.087.

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Robust Results

M

Milestone transformation projects

EONIKH

Η Πρώτη Ασφαλιστική

Implemented a Service Management platform to streamline service management, automate workflows, and enhance operational efficiency.

COSMOTE

Implemented a Private cloud platform with HPE GreenLake, delivering on-prem cloud experience with scalable, automated, and cost-transparent operations.

Piraeus

Implemented a FinOps solution enabling real-time multi-cloud cost visibility and optimized cloud spending

allwyn

Implemented an application security framework with DevSecOps practices, enabling early vulnerability detection and improved software security.

ΔΕΔΔΗΕ

Implemented a Backup as a Service solution with ransomware protection, anomaly detection, and automated recovery across datacenter, cloud, and SaaS environments.

EONIKH

ΤΡΑΠΕΖΑ
Implemented a GenAI and real-time analytics solution enabling automated request handling and personalized customer engagement.

snappi

Implemented an end-to-end cloud observability platform, enabling real-time visibility, faster incident prevention, and reduced recovery time.

TITAN

Built a dual-region Azure VMware Solution, enabling secure and resilient hybrid cloud operations.

T

performance

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AEGEAN

ALPHA BANK

ATHENS INTERNATIONAL AIRPORT ELECTRONICS VENZELOS

ATHEXGROUP Athens Exchange Group

COSMOTE

enerwave

EUROBANK

Groupama

HELLENIQ ENERGY

Metlen Energy & Metals

MOTOR OIL

nexi

NOVA

CmediaBank

// Piraeus

VIOHALCO

vodafone

αδμήε

ΑΝΕΞΑΡΤΙΚΤΟΣ ΔΙΑΧΕΙΡΗΣΤΗΣ ΜΕΤΑΦΟΡΙΑΣ ΚΛΙΒΑΤΡΙΚΗΣ ΕΝΕΡΓΕΙΑΣ

χnappi

ΔΕΗ

ΔΕΔΔΗΕ

ΕΘΝΙΚΗ

Η Πρώτη Ασφαλιστική

ΕΘΝΙΚΗ ΤΡΑΠΕΖΑ

allwyn

ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ ΕΥΡΩΣΥΣΤΗΜΑ

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We work with

World-class partners

aws

DELL Technologies

dynatrace

FERTINET

Hewlett Packard Enterprise

IBM

Microsoft

ot opentext™

Red Hat

SAS

servicenow.

vmware® by Broadcom

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Thank you!