Seco — Investor Presentation 2025

Sep 8, 2025

1H 2025 Results Presentation & Business Update

September 8th, 2025

Disclaimer

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This document has been prepared by SECO S.p.A. ("SECO" or the "Company"), for information purposes only, exclusively with the aim of assisting you to understand and assess the activities of SECO. The information contained in this presentation does not purport to be comprehensive and may not have been independently verified by any independent third party.

Statements contained in this presentation, particularly regarding any possible or assumed future performance of the SECO Group, are or may be forward-looking statements based on SECO's current expectations and projections about future events.

Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results, including the financial condition and profitability of SECO to differ materially from, or be more negative than, those expressed or implied by such forward-looking statements, due to any number of several factors, many of which are beyond the ability of SECO to control or estimate precisely. Consequently, SECO and its management can give no assurance regarding the future accuracy of the estimates of future performance set forth in this document or the actual occurrence of the predicted developments.

The data and information contained in this document are subject to variations and integrations. Although SECO reserves the right to make such variations and integrations when it deems necessary or appropriate, SECO assumes no affirmative disclosure obligation to make such variations and integration, except to the extent required by law.

SECO does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation.

Any reference to past performance of the SECO Group shall not be taken as an indication of future performance.

In addition, this presentation includes or may include certain ''Adjusted'' financial and operating indicators and other measures, which have been adjusted to reflect extraordinary events, non-recurring transactions and activities which are not directly related to the Group's ordinary business.

Such "Adjusted" information has been included to allow a better comparison of financial information across the periods; however, it should be noted that such information is not recognized as measures of financial performance or liquidity under IFRS and/or do not constitute an indication of the historical performance of the Company or the Group. Therefore, investors should not place undue reliance on such data and information.

This presentation does not constitute a recommendation regarding the securities of the Company. This document does not constitute or form part of any offer or invitation to purchase or subscribe any shares issued by the Company and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

By reading this presentation, you agree to be bound by the terms set out.

Presenting today

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Massimo Mauri Chief Executive Officer

Lorenzo Mazzini Chief Financial Officer

Clarence Nahan Head of Corp. Dev. & IR

Key takeaways from the past 6 months

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Urbanist – 12 pt Strong operating performance

Consistent improvement of financial profile

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Active launch pipeline and news flow

Full-Year guidance

• 1H25 Net sales – €98.4m, up 3% YoY with 2Q25 above guidance at €51.2m (up 9% QoQ)
  • o Clea revenues – €12m, contributing 12% of our overall top line
• Gross profit margin – 53.4%, improving YoY and above guidance
• EBITDA Adj. – €20.1m, steadily above 20% margin
• Adj. Net financial position – €50.3m as of 30th June 2025
• Continued focus on Net Working Capital and cash generation
• Clea 2.0 – a major upgrade to our embedded OS and a core component our software framework
• Application Hub – our new digital marketplace to accelerate the deployment of AI edge applications
• Developer Center – our centralized portal to streamline access to product and service documentation
• On track to achieve €200m+ revenues in 2025 at constant FX
• Profitable growth with Gross profit margin to be maintained above 50%

Detailed 1H 2025 Results

1H 2025 financial performance in details

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	1H 24	1H 25
Net sales	€95.3m	€98.4m	• Revenues up 3% YoY and 9% QoQ, showing a clear order recovery • Clea revenues growing QoQ to €6.1m in 2Q25, 12% of our overall mix in 1H25
Gross margin	€50.3m 52.7%	€52.5m 53.4%	• Gross margin improvement compared to 1H24 and FY24 • Positive margin progression mainly attributable to a different sales mix
Adj. EBITDA	€15.8m 16.6%	€20.1m 20.5%	Strong YoY rebound thanks to business expansion and better operating • leverage, including control of production costs Margin increase of 4% vs. 1H24 •
Adj. Net Income	€3.9m 4.1%	€7.3m 7.4%	D&A: +€0.3m vs. 1H24 • • Net interest expenses decreased by c. €0.1m vs 1H24, while Net financial expenses increased by €0.8m vs. 1H24 due to a €1m dividend from Fannal Margin increase of 3% vs. 1H24 • Taxes calculated with theoretical tax rate •

…% = % of Net sales

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Net sales - €98.4m

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• €86.4m in 1H25, +3% vs. 1H24
• Sales volume expansion well distributed across geographical areas, with US growth outperforming the other regions
• Positive trajectory from Industrial, Medical, Transport and Fitness

Edge computing business

• €12.0m in 1H25
• Steady contribution in terms of incidence on Net sales
• Recurring portion of revenue at €4.3m in 1H25 (from 32% 1H24 to 36% 1H25)

Note: percentages may not sum to 100% due to rounding; all numbers in €m are rounded to the closest first decimal place, so there may be deltas for up to ±€0.1m when variation figures are displayed

Adjusted EBITDA

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Adj. EBITDA bridge (€m)

• Positive operating leverage, supported by business expansion and good OPEX control

Stock Option Plans actuarial value (non-monetary item) Extraordinary transaction costs & Other extraordinary Opex

Foreign exchange income/losses

1H 2025 EBITDA adjustments

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Adjusted Net financial position

Adj. Net debt evolution (€m)

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Business update

2025 is showing a clear rebound in all KPIs

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Financials Performance

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• Revenues – Strong 2Q at €51.2m, up 9% from Q1 and our best quarter in 2 years

• Gross Profit Margin consistently above 50% and improving year-on-year
• Adj. EBITDA Margin operating leverage confirmed with now a second quarter in a row above 20%

Business Development

• Order intake up double-digit year-on-year and growing
• Book to Bill consistently at or above 1 year-to-date
• Design wins €24m secured for next year from new customers and new projects with existing clients

Strategic Projects

• 50+ ongoing R&D projects of which 25 ready for mass production before year end
• 15+ Clea ecosystem partners including major Silicon vendors, Hyperscalers & System Integrators
• Record level of technological roll-out with Clea 2.0, the App Hub, the Developer Center

Becoming the reference partner for industrial end-to-end solutions

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A fully integrated offering to reduce complexity and speed up AI adoption

HMI systems Software framework AI algorithms

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HMI + Clea platform + AI: complete solutions to maximize our tech investments

Unique E2E offering Interest from Silicon vendors Driving AI at the Edge Fast Time-to-Market

Seen as the ideal go-to AI evaluation kit by our chipmaker partners

AI-based with an intuitive UX, to accelerate AI deployment in industrial application

Modular & scalable platform, to deliver custom HMI in just 3 months

Modular Vision – setting a new HMI standard for edge inference

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Modular by design: 5 versions, 1 scalable platform

Pi Vision, powered by Raspberry Pi CM5, harnessing the RPi ecosystem in industrial

HMI use cases

Entry & Mid-Range, powered by NXP i.MX 8M Plus and i.MX 93, with integrated basic AI acceleration

X86 Version, based on Intel Atom ensuring maximum OS flexibility for industrial-grade apps

AI-enhanced version, integrating Dragonwing Q6 module for advanced AI processing

Clea OS enabled across the full range, ensuring support, updatability, and remote management

New concept design for valuetier SoM Target verticals: PKE, logistics, handheld devices

Update on strategic technology partnerships

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Collaborating with global leaders to accelerate the adoption of AI at the Edge

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Clea on NXP platforms starting from EVKs • Dev journeys published with support for MPUs and MCUs

• Next step: integration of EdgeLock2GO as provisioning & CA hub

Joint launch with NXP of the new Modular Vision HMI powered by i.MX 95

X Elite COM Express design in progress with high technical engagement from Qualcomm's support team

AI demo on Modular Vision with QCS6490 ready to be showcased mid-month at Qualcomm, featuring Clea and Edge AI use cases

Edgehog Device Manager integrated on Raspberry Pi OS

Clea OS available on RPi hardware via Raspberry Pi Imager for RPi 4

Pi Vision platform currently under development

Participating in the Panther Lake EAProgram First platform on Intel 18A process node

Enrolled in the Ryzen V4000 Early Access Program

An integrated offering aimed at enabling faster AI adoption

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Simplify the deployment and management of digital services

Boards Discover, purchase & deploy ready-to-use software and AI-algorithms directly on field-devices

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Documentation and device monitoring tools to build, support, and maintain customers' solution

KPIs continue to confirm a rebound in clients' demand

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Confirmed uptick in both backlog and order intake over the past 18 months Book-to-bill consistently at or above 1 over the first half

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FY25 Revenue¹ Do not move or change

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Full-Year guidance

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On track to achieve €200m+ revenues in 2025 at constant FX Profitable growth with gross profit margin maintained above 50%

We are building a strong revenue growth for 2026

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Already secured design wins from new customers and new projects with existing clients, across key verticals and geographies

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Selected 2026 Design wins

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Vertical	Customer	Region	Application	'26 Business size	Mass Production
	New	APAC	Digital cockpit for electric e-motorcycles (HMI only)	€4.0m	2Q26
	New	EMEA	Smart power grids management	€3.7m	1Q26
	New	EMEA	Water pump controller for industrial & wastewater management	€3.3m	1Q26
	Existing	Italy	System for a new automatic coffee vending machine line	€2.0m	4Q25
	Existing	EMEA	Real-time methane leak detection system (with Clea)	€1.8m	2Q26
	New	EMEA	Cash dispenser and recycler	€1.3m	1Q26
	Existing	EMEA	System for ceramic screen-printing machines	€1.2m	1Q26

Q&A

Appendix

Empowering Sustainable Business Through Innovation

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Our Mission: A digital, sustainable, intelligent future

Our technologies drive the automation of industrial processes, enhance production efficiency, minimize product waste, and optimize the use of resources and energy - enabling a smarter, more sustainable future for business

ESG – A key priority for the Group

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Why invest in SECO?

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Top 5 player globally in one of the fastest growing end-market in technology Profitable business model focused on long term sustainable high margin End-to-end technological partner with unrivalled R&D excellence Fully integrated offering, from edge computing to software platform & AI Highly diversified client base, consistently growing through new project wins Experienced management team with a clear strategy to deliver value creation Strong balance sheet allowing for a robust organic growth Uniquely positioned product range to fully benefit from Edge AI tailwind

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Thank you

www.seco.com

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