Tinexta

Investor Presentation • Jun 30, 2025

Mid & Small Virtual Conference July 1-2, 2025

Disclaimer This company presentation includes:

➢ forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control

➢ management data, when presented, are identified as such

Business Unit data are divisional and include intra-BU items, which are instead eliminated at a Group level

For detailed information on Tinexta S.p.A., it is recommended to refer to the Company's documentation, including the latest interim reports, and the Company's financial statements

We shape the future

Tinexta is an industrial Group that offers innovative solutions for the digital transformation and the growth of companies, professionals, and institutions. The Group is active in the strategic sectors of Digital Trust, Cybersecurity, and Business Innovation

Headquartered in Italy and listed on the STAR segment of the Euronext Milan stock exchange, Tinexta is part of the European Tech Leader Index as a high-growth tech Group

Company Overview 01

Management Team

Company Overview

Oddone Pozzi Group Chief Financial Officer

• Group CFO and Board Member at Mondadori Group
• Co-CEO at Giochi Preziosi
• CFO at Ventaglio Group
• Chief of Administration, Control & Services at Enel Business Area Gas
• Degree in Economics & Commerce from Bocconi University

Pier Andrea Chevallard GM & Chief Executive Officer

• General Secretary of the Milan Chamber of

• Former CEO of Tecno Holding
• Commerce
• Director at Promos (specialized structure of the Milan Chamber of Commerce to promote international commerce)
• Managing Director at Parcam
• Member of the Board of Directors at Fiera Milano
• Degree in Political Science from the University of Turin

Josef Mastragostino Chief Investor Relations Officer

• Head of Investor Relations at Gamenet & PMO
• Director Investor Relations at IGT
• Investor Relations Manager at TREVI Group
• Investor Relations at Lottomatica
• BBA from City University of New York
• MS from LUISS University
• MBA from Cornell University
• Value Investing Columbia Business School, Columbia University (New York)

Final step of the "One Group, One Brand" integration process aimed at maximizing Tinexta's identity perception and visibility of corporate culture as well as promoting infra-Group synergies and collaboration

(1) FY 2024 results include contribution from the acquisitions of: Ascerta Ltd and its subsidiaries ("Ascertia"), consolidated from August 1, 2023; Studio Fieschi S.r.l., consolidated from December 31, 2023; ABF Group SAS and ABF Décisions ("ABF"), consolidated from January 1, 2024; Lenovys consolidated from April 1, 2024; Camerfirma Colombia S.a.S., consolidated from April 1, 2024; Warrant Funding Project consolidated from June 30, 2024;

• Defence Tech Holding ("Defence Tech" or "DTH") consolidated from August 1, 2024ù
• (2) Includes DTH's EBITDA Adjusted contribution from January 1, 2024

Business Units at a glance

Company Overview

vs PY		historical high	vs PY

FY'24	1 Revenues € 455M	1 EBITDA Adj. € 111M	NFP/EBITDA Adj. 2.79x
vs PY	+ 15%	+ 8%

Company Overview

2025 Action plan – Recovery after a challenging year

ABF was strongly impacted by macroeconomic and country-specific downturns, leading to a very low performance

In-depth analysis of the order book, customer base, and clientele projects, with a close scrutiny of process application, cost analysis, and resource allocation

WHAT WENT WRONG IN 2024 2025 ACTION PLAN

Slowdowns in Cybersecurity caused by the merger by incorporation of three acquired companies (Corvallis, Yoroi, Swascan), the different revenue mix, as well as lower operational efficiency in services

Improvement of services integration, optimization of proprietary vs third-party related services, and reorganization of the Sales and Operations departments

Business Innovation was mainly affected by delays in the implementation of Industry 5.0, lower deductible rates for Industry 4.0, and increase in revenues from lower margin activities

Integration of all business lines in a unique, leaner advisory framework, simplified organizational model focused on improved delivery, higher efficiency on employee responsibilities

Company Overview

Warrant Funding Project

(1) Calculated as NFP/EBITDA Adjusted; Includes DTH's EBITDA Adjusted contribution from January 1, 2024

Company Overview

EBITDA Adj.

25.9% CAGR '14-'24

NFP

€ M

Revenues

19.5% CAGR '14-'24

1Q 2025 Results 02

Key Group Financial Data at 31/03/2025

1Q 2025 Results

1Q 2025 – On track to meet FY targets

GROUP 1Q 2025 RESULTS

• EBITDA Adjusted at € 18.7M (+ 23.8% vs PY), tangible signs of rebound from the Cybersecurity and Business Innovation BUs (expected acceleration in 2H)

- Revenues at € 115.5M (+ 17.4% vs PY), with all BUs contributing to 2025 Guidance achievement

• EBITDA Reported at € 17.1M, + 103.5% vs PY due to considerably lower impact of non-recurring items
• EBITDA Adjusted margin at 16.2% (vs 15.4% in PY); EBITDA Reported margin at 14.8% (vs 8.5% in PY)
• EBIT Adjusted at € 8.5M (+ 7.3% vs PY), with a margin on revenues at 7.4%
• Net Profit Adjusted at € 3.7M; Net Profit at € - 2.7M (vs € 3.1M in PY)
• Adjustments
• Free Cash Flow Adjusted at € 33.6M vs € 27.2M in PY (€ 48.3M in the last 12 months on March 31, 2025)
• NFP/LTM EBITDA Adjusted at 2.54x vs 2.79x proforma¹ (2.90x reported) on December 31, 2024

• NFP at € 290.9M (vs € 321.8M in FY'24). The decrease in Net Financial Debt in the quarter was driven by cash generation and favorable NWC dynamics; positive Put/Call

BU 1Q 2025 RESULTS²

1Q 2025 Results

• (1) Includes contribution from Defence Tech Holding's EBITDA Adj. from January 1, 2024
• Project S.r.l. (consolidated from June 30, 2024), Defence Tech Holding or "DTH" (consolidated from August 1, 2024)

RECENT EVENTS & UPDATES

• Group-wide rebranding aimed at fostering integration and improving recognition of Tinexta's subsidiaries; the Group's three BUs will now oversee five operating

• Approval of the distribution of a dividend of € 0.30 per share by the Ordinary Shareholders' Meeting held on April 14, 2025, with payment date starting June 4, 2025

• companies: Tinexta Infocert, Tinexta Visura, Tinexta Cyber, Tinexta Defence, Tinexta Innovation Hub
• (coupon date June 2, 2025 and record date on June 3, 2025)
• Approval of the authorization proposal for the purchase and disposal of treasury shares by the Ordinary Shareholders' Meeting

1Q 2025 Consolidated Results¹

€ M

1Q 2025 results show Revenues of € 115.2M and EBITDA Adjusted of € 18.7M, coming back to operating leverage

Double-digit growth in Revenues (+ 17.0%) and EBITDA Adjusted (+ 23.8%)

EBITDA Adjusted at € 18.7M

EBITDA Adjusted margin at 16.2% (vs 15.4% in PY)

EBITDA reported at € 17.1M

EBITDA reported margin at 14.8%

Net Profit came in at € - 2.7M

Adjusted Net Profit came in at € 3.7M

Adjusted Free Cash Flow at € 33.6M

1Q 2025 Results

(1) 1Q'25 Revenues and EBITDA Adjusted net of non-recurring components and net of costs for share-based payment plans and long-term incentives for Group's managers and strategic directors (both in "Personnel costs") (2) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia Ltd and its subsidiaries ("Ascertia") fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24,

• of the activities to identify the fair value of assets and liabilities of ABF Group SAS and its subsidiary ABF Décisions ("ABF"), fully consolidated from January 1, 2024

EBITDA Adjusted on a quarterly basis – back-end weighted

€ M

1Q 2025 Results

(1) Data considers mid-point of the EBITDA Adjusted guidance

	1Q'25	%	1Q'241	%	1Q 2025 on 20241	%	WITH ACQUISITIONS		LFL 2024
							Δ	Δ%	Δ	Δ%
REVENUES2	115.2	100.0%	98.4	100.0%	104.8	100.0%	16.8	17.0%	6.3	6.4%
Total Operating Costs2	(96.5)	(83.8%)	(83.3)	(84.6%)	(88.5)	(84.4%)	(13.2)	15.8%	(5.1)	6.2%
Services & other costs	(45.9)	(39.9%)	(39.2)	(39.8%)	(42.6)	(40.7%)	(6.7)	17.1%	(3.4)	8.7%
Personnel costs	(50.6)	(43.9%)	(44.1)	(44.8%)	(45.9)	(43.8%)	(6.5)	14.7%	(1.8)	4.0%
EBITDA ADJUSTED	18.7	16.2%	15.1	15.4%	16.3	15.6%	3.6	23.8%	1.2	7.9%
Share-based payments3 & other non-recurring costs	(1.6)	(1.4%)	(6.7)	(6.8%)	(1.6)	(1.5%)	5.1	(75.9%)	5.1	(76.6%)
EBITDA	17.1	14.8%	8.4	8.5%	14.7	14.1%	8.7	103.5%	6.3	75.4%
Depreciation, amortization, provisions, and impairment	(16.6)	(14.5%)	(13.3)	(13.5%)	(15.7)	(15.0%)	(3.3)	25.0%	(2.4)	18.0%
OPERATING PROFIT	0.4	0.4%	(4.9)	(5.0%)	(1.0)	(0.9%)	5.4	108.9%	3.9	80.0%
Financial Income	0.6	0.5%	2.7	2.7%	0.5	0.5%	(2.0)	(76.4%)	(2.1)	(80.7%)
Financial Charges	(4.3)	(3.7%)	(2.2)	(2.2%)	(3.8)	(3.6%)	(2.1)	98.7%	(1.6)	73.3%
Net Financial Charges	(3.7)	(3.2%)	0.5	0.5%	(3.2)	(3.1%)	(4.2)	NM	(3.7)	NM
Profit of equity-accounted investments	0.0	0.0%	0.3	0.3%	0.0	0.0%	(0.2)	(90.7%)	(0.2)	(90.7%)
PROFIT BEFORE TAXES	(3.2)	(2.8%)	(4.2)	(4.2%)	(4.2)	(4.0%)	1.0	23.1%	0.0	(0.5%)
Income Taxes	0.5	0.4%	1.1	1.1%	0.9	0.9%	(0.5)	(51,7%)	(0.2)	(15.5%)
NET PROFIT OF CONTINUING OPERATIONS	(2.7)	(2.3%)	(3.1)	(3.2%)	(3.3)	(3.2%)	0.4	13.4%	(0.2)	(6.0%)
Net profit of discontinued operations	0.0	N/A	0.0	N/A	0.0	N/A	0.0	N/A	0.0	N/A
NET PROFIT	(2.7)	(2.3%)	(3.1)	(3.2%)	(3.3)	(3.2%)	0.4	13.4%	(0.2)	(6.0%)

1Q 2025 Results – Income Statement

€ M

1Q 2025 Results

(1) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia, fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24, of the activities to identify the fair value

(2) 1Q'25 Revenues and Operating Costs are net of non-recurring components and net of costs for share-based payment plans and long-term incentives for Group's managers and strategic directors (both in "Personnel costs")

- of assets and liabilities of ABF, fully consolidated from January 1, 2024

• (3) Includes costs related to share-based payment plans and long-term incentives for managers and strategic directors

	EBITDA			OPERATING PROFIT/(LOSS)	NET PROFIT/(LOSS) FROM CONTINUING OPERATIONS
	1Q'25	1Q'241	1Q'25	1Q'241	1Q'25	1Q'241
REPORTED INCOME STATEMENT RESULTS	17.1	8.4	0.4	(4.9)	(2.7)	(3.1)
Non-recurring revenues	(0.3)	0.0	(0.3)	0.0	(0.3)	0.0
Non-recurring service costs	0.7	3.1	0.7	3.1	0.7	3.1
LTI incentive plans	0.6	1.2	0.6	1.2	0.6	1.2
Non-recurring personnel costs	0.6	2.4	0.6	2.4	0.6	2.4
Other non-recurring operating costs	0.0	0.0	0.0	0.0	0.0	0.0
Amortization of other intangible assets from consolidation			6.3	6.1	6.3	6.1
Non-recurring provisions			0.1	0.0	0.1	0.0
Contingent consideration					0.6	(1.3)
Non-recurring financial charges					0.0	0.0
Tax effect on adjustments					(2.2)	(2.7)
ADJUSTMENTS INCOME STATEMENT RESULTS	18.7	15.1	8.5	7.9	3.7	5.6
CHANGE FROM PREVIOUS YEAR	23 8% +		+	7.3%	(34 3%)

1Q 2025 Results – A clear view on P&L Adjustments

€ M

1Q 2025 Results

(1) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24, of the activities to identify the fair value

of assets and liabilities of ABF, fully consolidated from January 1, 2024

1Q 2025 Results

1Q 2025 Results – NFP & FCF

1Q 2025 Results

NET FINANCIAL POSITION ADJUSTED FCF FROM CONTINUING OPERATIONS

Put Adjustment + € 6.2M

Acquisitions - € 0.07M

Adjustments to leasing contracts - € 1.3M

OCI Derivatives - € 0.06M

CapEx remained stable at € 6.3M (in line vs PY)

LTM Net Working Capital increasing by 71.8% vs PY (42.5% on an organic basis, 29.3% due to changes in perimeter) mainly due to Tax assets and liabilities

MAIN CHANGES

(1) Comparative figures for FY'24 have been restated in connection with the completion, in 1Q'25, of the activities to identify the fair value of assets and liabilities of Lenovys S.r.l and Camerfirma Colombia S.a.S (both fully

(2) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia, fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24, of the activities to identify the fair value

• consolidated from April 1, 2024)
• of assets and liabilities of ABF, fully consolidated from January 1, 2024

1Q 2025 Results – BU Review¹

21

€ M

1Q 2025 Results

GROUP

BUSINESS INNOVATION

(1) 1Q'25 Revenues and EBITDA Adj. are net of non-recurring components and net of costs for share-based payment plans and long-term incentives for Group's managers and strategic directors (both in "Personnel costs") (2) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia, fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24, of the activities to identify the fair value

of assets and liabilities of ABF, fully consolidated from January 1, 2024

€ M

NFP/EBITDA² 2.79x 2.54x

1Q 2025 Results – NFP Bridge¹

1Q 2025 Results

(1) Comparative figures for FY'24 have been restated in connection with the completion, in 1Q'25, of the activities to identify the fair value of assets and liabilities of Lenovys S.r.l and Camerfirma Colombia S.a.S (both fully

• consolidated from April 1, 2024)
• (2) Calculated as NFP/LTM EBITDA Adjusted; FY 2024 NFP/EBITDA Adjusted ratio includes DTH's EBITDA Adjusted contribution from January 1, 2024

321.8

€ M

NFP/EBITDA² 2.32x 2.54x

1Q 2025 Results – LTM NFP Bridge¹

1Q 2025 Results

(1) Comparative figures for 1Q'24 have been restated in connection with: (i) the completion, in 2H'24, of the activities to identify the fair value of assets and liabilities of Ascertia, fully consolidated from August 1, 2023; (ii) the completion, in 4Q'24 of the activities to identify the fair value of assets and liabilities of Studio Fieschi S.r.l., fully consolidated from December 31, 2023; (iii) the completion, in 4Q'24, of the activities to identify the fair value of assets and liabilities of ABF, fully consolidated from January 1, 2024

(2) Calculated as NFP/LTM EBITDA Adjusted

1Q 2025 – Digital Trust¹

€ M

1Q 2025 Results

• Revenues at € 54.4M up 6.0%. OTS products led the growth, notably LegalMail (+ 12%), LegalDoc (+ 32%), mainly due to archiving related to Trust Services, and

• LegalInvoice (+ 9%), the latter driven by regulatory tailwinds extending obligations to a wider range of professionals
• Trusted Onboarding Platform solutions for Enterprises up 3% due to recurring revenues for subscriptions and renewals from loyal clients
• LegalCert down 3% due to a delay in sales of Ascertia's PKI products in the MENA² region, which are expected to occur in the next quarters. Online sales up 10%, with Management Software and Telematic Transactions up by a total € 0.7M during the quarter. Decrease in CapEx to € 3.3M (vs € 4.2M in PY)
• related to the aforementioned delay in Ascertia's revenues, which were characterized by high marginality

• EBITDA Adjusted at € 15.8M in line with the previous year, with margin moving to 29.1% (vs 30.8% in PY). The softer performance in the first quarter is mainly

1Q 2025 – Cybersecurity

1Q 2025 Results

• Revenues at € 31.9M up by 33.4%. The organic contraction (- 3.0%) was more than offset by the change in perimeter (36.4% of overall growth) following Defence

• Tinexta Cyber's results were driven by the increase in sales for Technology Solutions (+ 6.6%): in this area, the Services segment grew 7% due to signing of contracts for proprietary solutions, while Products performed in line vs PY. Security Solutions were down 15.2%, with contractions in both the Services (- 4%) and

• Tech's acquisition (consolidated from August 1, 2024 and owned by Tinexta Defence)
• Products (- 25%) components. The latter was though characterized by lower revenues from resale of third-party products (with lower marginality)
• ENISA¹ for the provision of cybersecurity services to Italy, showing the first clear results of the synergies related to the transaction
• integration and optimization efforts within the BU (SMG&A costs down 14%)

• Tinexta Defence's revenue contribution at € 8.7M following DTH's acquisition, of which 64% related to the Defence segment and 36% related to the Cyber segment. During the first quarter of 2025, a collaboration between Next Ingegneria dei Sistemi (DTH) and Tinexta Cyber was awarded the first place in a tender issued by

• EBITDA Adjusted at € 4.4M up 88.5% (+ 16.1% on an organic basis). The increase is attributable to Tinexta Defence for € 1.7M (72.4% of overall growth) as well as to the rebound in Tinexta Cyber's performance, driven by a more favorable revenue mix thanks to the decrease in the resale component and benefitting from the

1Q 2025 Results

• Revenues at € 31.4M up 25.5% (mainly organic), with a minor contribution from Lenovys (consolidated from April 1, 2024). Organic growth (+ 18.0%) is mainly attributable to a recovery of the Finance & Grants ("F&G") segment in the French market (+ 61.1%) due to ABF benefitting partially from the approvals of filings related to 2024. The Italian F&G segment was up 23.6%, with Automatic Subsidized Finance and EU Funding leading the increase. The Export & Digital Marketing

• The order book related to Industry 5.0 is in line with expectations despite the complexity in the application process and delays in implementation still affecting growth in revenues and overall demand: at the end of 1Q'25, only € 650M have been filed for (out of a total € 6.3B), leading the Italian government to evaluate the possibility of re-allocating part of the funds to other projects (€ 3-3.5B). Industry 4.0 contribution still expected, with a dedicated pool of € 2.2B for companies who

• segment was up 8.5% while Digital & Innovation and ESG performed in line with the previous year
• apply
• related to existing budgets and low success rates affecting investor confidence. Revenues and EBITDA improving vs 1Q'24
• EBITDA Adjusted at € 2.9M up 204.8% (mainly organic) with margin increasing to 9.3% (vs 3.8% in PY)

• Still uncertain political scenario in France. The newly-approved Budget Law determined the temporary freezing of certain incentives related to France 2030 and set up new eligibility criteria for the funding of projects; this led to further delays in the award of public tenders and in the launch of new programs, with uncertainty

Business Units Strategy Pillars 03

(1) Source: Tinexta Infocert internal research and documents; market reports; desk research

Digital Trust – BU Snapshot

Business Units Strategy Pillars

Tinexta boasts the largest European Qualified Trust Service Provider (Tinexta Infocert), with Group companies across all the main growing markets in Europe

Off-the-Shelf (OTS) Enterprise Solutions

Mainly subscriptionbased products sold to private individuals, SMEs, and professionals with country-specific product catalogs

100% recurring revenues

Digital trust platforms tailored to target industryspecific needs across a variety of business verticals

Growing % of recurring revenues

10M+ 5.6k⁺ USERS OF OUR PRODUCTS

CORPORATE

CUSTOMERS

60+

COUNTRIES REACHED

Global Digital Transaction Management (DTM) market still a greenfield opportunity with expected double-digit growth in the medium term¹

Italian DTM Market Evolution 2022-2026E¹

The Digital Trust Experience – from basics to bespoke

Business Units Strategy Pillars

Trusted Onboarding Platform, Virtual Counter, Digital Transaction Management

Enterprise Solutions

FULLY INTEGRATED INTERNATIONAL PLAYER

Cybersecurity – BU Snapshot

Business Units Strategy Pillars

A complete value proposition to address a broader clientele

Strong Core and Large client base across all business lines, with a high potential for expansion in the Mid-Corp, Industrials, and Public Administration sectors; opportunity for meaningful synergies after the acquisition of DTH

	Implementation Services	Advisory	MSS		Digital Products		Tech Solutions
n o pti cri es D	Installation, configuration, and customization of cyber products	Offensive security, Governance Risk & Compliance, Training	Cybersecurity Defence Center, h24 Security Operations Center		Suite Anti-Money Laundering, Finance & Payments		Application maintenance and evolutive cyber solutions
ors	Large Strategic		Mid Business			Large Core	Mid Business
ct e	Sectors Various sectors		Various sectors		Sectors	Finance	Various sectors
& S nts e Cli	Channels Direct Network Telco Channels		Direct Network Telco Channels		Channels	Direct Network	Direct Network Telco Channels

Established presence in the Finance sector with possibility of expansion in the Mid-Corp segment and the Large Strategic Clientele

DEFENCE TECH'S SYNERGIES

ITEM	DTH'S CONTRIBUTION	TINEXTA'S CONTRIBUTION
Corporate products	Commercial proprietary products	Established client network and scale-up potential
Data Intelligence skills	Data intelligence technology	Proprietary Anti-Money Laundering ("AML") software suite
Access to the PA sector	Brand awareness and accreditation	Professional cybersecurity services
Synergies with Digital Trust	Skills and R&D investment capacity	Access to Tinexta Infocert's sales network

(1) Source: Kearney (June 2024)

Business Innovation – BU Snapshot

	Revenues	EBITDA Adj.		Margin
FY'24	€ 152M	€ 44M		29%
vs PY	+ 16%	- 10%		Lower on mix
	SUBSIDIZED FINANCE		TRAINING
	EUROPEAN FUNDING		DIGITAL & INNOVATION
	SUSTAINABILITY & ENERGY		DIGITAL MARKETING
	CORPORATE FINANCE		SERVICES	INTERNATIONALIZATION

Tinexta's Warrant Hub is part of the Italian Register of Certifiers for R&D Tax Credit, and it has been able to expand in different EU countries where its business model is more replicable

Italian consulting market turnover¹

€ B

MARKET DRIVERS AND OPPORTUNITIES

Strong track record and brand awareness as a key buying incentive for potential clients with high levels of "returning revenues"

Full implementation of the Industry 5.0 tax incentive plan and Twin Transition trend boosting demand in Italy

Cross-fertilization of capabilities within subsidiaries in different countries, boosting EU positioning

Leverage Warrant Hub's access to SMEs as a platform for Cyber and Digital Trust offer

INDUSTRY 5.0 IN DETAIL

- € 6.3B fully funded for the sustainable transition of SMEs

From a polarized service to an integrated system

Business Units Strategy Pillars

Group Strategy Pillars & 2025 Outlook 04

Key Pillars of the 2025 Strategy

Group Strategy Pillars & 2025 Outlook

FOUNDATION 2009 – 2014

CONSOLIDATION 2015 – 2020

EXPANSION 2021 – 2024

Foundation and definition of product portfolio

First admission to the financial market (EGM)

Initial acquisition of key companies (Tinexta Infocert) Translisting on the STAR segment

Launch of Tinexta Cyber and entrance in the Italian cybersecurity market

Consolidation of leadership positioning in existing markets

Partnerships with leading companies in key sectors

International expansion through M&A in foreign markets (UK, France,

Spain)

Synergies between business units across products and business verticals, with an advisory-centric model

from 2025 INTEGRATION

Direct presence in foreign markets with the potential to become a pan-European aggregator in the ICT business

Unified value proposition and integrated strategy across business units and subsidiaries, directed by the Parent Company

Leadership positioning in the Italian market to support companies in their transformation and value creation processes, with a focus on Mid-Corps

Responsibility towards employees, environment, and our community as key priorities within all elements of the corporate strategy

Integration of previous acquisitions, and new M&A with strategic and synergic

targets

Re-definition and rationalization of product portfolio (disposal of CIM)

Tinexta's central role as the core of the Group

"ONE GROUP" MODEL

Innovation

Fostering innovation and leveraging on capabilities across all business units, as well as monitoring market trends and opportunities

Developing an advisory-based ecosystem under the Tinexta brand to satisfy the evolving needs of corporate customers of all sizes

Advisory

Monitoring the market and leveraging on cross-Group synergies to reach segments with high growth potential (e.g., Public Administration)

Reach

Expanding into new markets to replicate Tinexta's business model, taking advantage of regulatory tailwinds and digital maturity stages across countries (especially in EU)

Internationalization

Focusing on subsidiaries' integration and the rationalization of the single BUs to eliminate overlap and optimize efficiency, leveraging on synergies across businesses

Integration & Synergies

Creating a unique identity as a leading player in the industry, with cross-functional business activities and an integrated strategy

One Group

Parent Company Tinexta acts as a provider of shared services for the Group's subsidiaries, steering away from the concept of simple "holding company"

ESG Plan – Group & BUs on track in 2024

Group Strategy Pillars & 2025 Outlook

CLIMATE CHANGE

PEOPLE

Cybersecurity

Total initiatives: 7 100% completion

Total initiatives: 19 99% completion 1

Guidance – Group FY 2025 Targets

Group Strategy Pillars & 2025 Outlook

REVENUES

• 11-13% vs PY

of which 7-9% organic

EBITDA ADJ.

• 15-17% vs PY

of which 10-12% organic

NFP/EBITDA ADJ.

KEY PERFORMANCE DRIVERS

Expected reduction of CapEx levels and significant decrease in cash taxes to support a healthy level of cash conversion

Attractive policy for shareholders' remuneration, supported by a solid financial structure

• Strong underlying business driving reasonable and healthy organic growth, demand supported by the digital transformation trend
• Regulatory tailwinds at a national and EU level (NIS2, eIDAS, Industry 5.0) supporting business recovery as well as expansion and penetration opportunities in new segments (e.g., PA)

Cybersecurity and Business Innovation BUs focused on improving operational efficiency as key element for successful achievement of targets

Thanks.

Piazzale Flaminio 1/B Roma, 00196, Italy Tel. +39.06.42012631

E-mail: info@tinexta.com tinexta@legalmail.it LinkedIn: Tinexta

www.tinexta.com

Josef Mastragostino Chief Investor Relations Officer investor@tinexta.com

Investor Relations Contacts

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