Unifiedpost Group SA

Investor Presentation • May 23, 2022

Business Update

Q1 2022

Where are we today.

A favorable environment propelled by various external factors

product ² Strategic product portfolio

Digital Processing: Banqup. The all-in one business account for SMEs

A smart business account with document capabilities for small to medium businesses

product ²

Team Matrix-driven organisation

team ³

• Remove redundant legacy technology
• Continuous technology improvements

state-of-the art established teams one company culture

• 1 Unifiedpost Group identity among employees
• Towards full integration of all acquisitions
• Unmatched local & cross border payment services

• Established country teams supported by group departments
• Well defined value proposition

(EUR million)	Q1 2022	Q1 2021	Change (%)
Digital processing revenue – organic	27.6	24.21	+13.9%
Organic growth of recurring digital processing revenue	+ 19.3%	+ 6.7%	-
Digital processing revenue – acquired business	2.0	-	-
Postage & parcel optimisation revenue	16.5	15.6	+5.7%
Group revenue	46.2	39.9	+15.7%

(1)Including the digital processing revenue from acquired businesses in Q1 2021.

(#)	End Q1 2022	End Q4 2021	End Q3 2021
Customers	857,313	792,594	736,653
Companies in business network	1,615,062	1,504,895	1.319,225
Banqup customers	56,000	35,408	30,553
Organic growth (new subscriptions)	5,197	4,855	3,561
Migrated	15,395	-	-
Banqup customers Belgium (Billtobox)	31,848	28,864	24,324
Banqup customers France (JeFacture)	2,844	2,072	1,300

Key information		Use of proceeds
Committed amount	 EUR 10 0 m	Refinance existing debt
Tenor	 5 years, prepayment without costs from year 3	Support growth strategy  R&D investments  Working capital requirements  Fund potential future transactions to additionally expand capabilities and geographical coverage
Structure / Committed amount	 Term Loan B facility: EUR 75m  Capex facility: EUR 25m
Covenant	 Quarterly liquidity test
Lender	 Francisco Partners
Type	 Quasi equity funding
Cost	 3% cash interest, 8% PIK interest, 3% equity participation

Management guidance confirmed

Highlights

• Group revenue grewby 15.7% y/y to € 46.2 million in Q12022
• Organic recurring digital revenue up by 19.3% y/y in Q1 2022 (Q1 2021: 6.7%). Organic digital processing revenue +13.9% y/y, correlated to the non-recurring project and licence business
• Strong growth of customer base with 8.2% in Q1compared to YE2021
• Successful expansion of new SME-ecosystems and further rollout of payment functionality strengthens high product scalability and demonstrates overall Group's growth potential
• Growth rates in digital business increasingly supported by European governments' decisions
• Management guidance for FY2022 and FY2023 confirmed

Contact Data

Financial calendar

• 12 August 20 22: Publication H1 20 22 Business Update
• 16 September 20 22: Publication H1 20 22 Financial Result
• 10 November 20 22: Publication Q3 20 22 Business Update

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Unifiedpost Group Avenue Reine Astrid 92A 1310 La Hulpe, Belgium