Wiit — Investor Presentation 2022

May 11, 2022

WIIT takes your business above the clouds

Q1 2022 Results Presentation

Q1 2022 Results Presentation May 11, 2022

Disclaimer

This document has been prepared by WIIT S.p.A. (the "Company") for information and discussion purposes only, it contains only summary information and, therefore, it is preliminary in nature. Furthermore it has been drafted without claiming to be exhaustive.

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Q1 2022 RESULTS HIGHLIGHTS Persistent growth in sales (+48.6%) thanks to the parent company organic growth of 9%, due to contracts extension, acquisition of new customers and to the contribution of German companies acquired during 2021

• Consolidated Adjusted Revenue of 26.4 M€ (17.7 M€ in Q1 2021) +48.6% compared to Q1 2021 thanks to the organic growth, contracts extension and the acquisition of new customers and myLoc, Mivitec, Gecko and Boreus contribution;
• Consolidated Adjusted EBITDA of 10.1 M€ (7.2 M€ in Q1 2021) +40.9% compared to Q1 2021, thanks to the concentration in Cloud services, the level of optimisation achieved in the organisation of processes and operational services, cost synergies and the continuous improvement of the margin of the acquired companies. Margin on revenues at 38,2% (40.3% in Q1 2021) and increased referred to Q4 2021 (35%);
• Consolidated Adjusted EBIT of 5.7 M€ (4.1 M€ in Q1 2021) +39% compared to Q1 2021 with a margin on revenue at 21.7% and a strong improvement of amortization of 1.3M€ referred to the period of the previous year (3M€ in Q1 2021 despite 4.3 M€ in Q1 2022);
• Adjusted Net profit of 3.2 M€ , +2.4% compared to Q1 2021 (3.1 M€ in Q1 2021);
• Adjusted Net Financial Position (including the impact from the application of IFRS 16 for approx. 11.5 M€): debt of 147 M€ (140.6 M€ at December 31, 2021); the amount includes, in particular, the acquisition of the company ERPTech for 6 M€ and new investments on Capex for 7.3 M€. The value doesn't include the valuation of treasury shares in portfolio quantified in approximately 41.3 M€ at market value at 31 March 2022.

Financial

Highlights

vs

Q1 2022

Revenues Adjusted +48 26.4 M€ vs 17.7 M€ in Q1 2021 .6%

+40.9% Ebitda Adjusted 10.1 M€ vs 7.2 M€ in Q1 2021 EBITDA margin Adj. of 38.2%

+39.0% Ebit Adjusted

5.7 M€ vs 4.1 M€ in Q1 2021 Ebit margin Adj. of 21.7

147 M€ Net debt

+2.4% Net Profit Adjusted 3.2 M€ vs 3.1M€ in Q1 2021

Q1 2021 140.6 M€ at December 31, 2021

86.2% Wiit 86.3% Group Recurring

Revenues breakdown Q1 2022

13.8% Wiit 13.7% Group One Off

+48.6% Revenues Adjusted 26.4 M€ vs 17.7 M€ in Q1 2021

• Constantly growing market;
• Around 9% of the parent company organic growth;
• Focus on higher added-value services;
• Cross selling on acquired companies customers and acquisition of new clients;
• MyLoc 5.7 M€, Mivitec 0.9 M€ and Gecko and Boreus 7.7 M€ *

(*) Mivitec GmbH ("Mivitec") - a company whose acquisition was completed on 27 July 2021. Gecko Boreus ("Gecko e Boreus") - a company whose acquisition was completed on 2 November 2021. MyLoc full year

Financial Highlights

Q1 2022

vs

Q1 2021

+40.9% Ebitda Adjusted 10.1 M€ vs 7.2 M€ in Q1 2021 EBITDA margin Adj. of 38.2%

• Concentration on Cloud services, reduced low value added product revenue, optimized processes and operating services organization;
• Margin breakdown:
  • WIIT margin from 42.6% FY 2021 to 39,4% in Q1 2022 (41,5% excluding a non recurrent one off reselling hardware)
  • Matika margin from 30.1% FY 2021 to 43.8% in Q1 2022
  • Etaeria margin from 25.4% FY 2021 to 27.8% in Q1 2022
  • Adelante from 22.9% FY 2021 to 15.3% in Q1 2022
  • myLoc margin from 47.2% FY 2021 to 38.7% in Q1 2022 (53.9% excluding the increased cost for electricity for 0.9 M€ for Q1 2022 referred to Q1 2021)
  • Mivitec margin from 21.8% FY 2021 to 29.7% in Q1 2022
  • Boreus margin from 37.2% FY 2021 to 36.9% in Q1 2022
  • Gecko margin from 30.5% FY 2021 to 33.7% in Q1 2022

The Adjustment refers to 0.3 M€ of costs relating to stock option and stock grant plans and for 0.04 M€ to the M&A transactions.

Financial Highlights

Q1 2022

vs

FY 2021

+39.0% Ebit Adjusted 5.7 M€ vs 4.1 M€ in Q1 2021 Ebit margin Adj. of 21.7

The Adjustment refers to the Purchase Price Allocation of the acquisition for Euro 1.0 million and it includes the variations for EBITDA Adjustment too.

Financial Highlights

Q1 2022

vs

Q1 2021

+2.4% Net Profit Adjusted 3.2 M€ vs 3.1M€ in Q1 2021

The Adjusted consolidated net profit excludes the effects from M&A's for 0.04 M€, costs for the stock options and stock grant plans of 0.3 M€, amortization and depreciation from the Purchase Price Allocation regarding the acquisitions for 1 M€, income from the difference between the estimated price to acquire the equity investments and the actual price paid for Mivitec GmbH of 0.4 M€ and net of the tax effects of the above. Financial charges in Q1 2022 principally concerned the effects of interest on the bond loan for 1 M€.

147 M€

Financial Highlights Net debt 140.6 M€ at December 31, 2021

• Acquisiton of the company ERPTech for 6.0 M€;
• Strong operating cash flow generation;
• IFRS16 effect of -11.5 M€ in Q1 2022 (-10.7 M€ at December 2021);
• CAPEX expenditure approx. 7.3 M€ mainly related to new orders;
• Treasury Shares Buy Back of 3.6 M€ ;
• Matika and Etaeria acquisition residual 20% for 3.5 M€ ;
• The treasury shares value (approx. 41.3 M€ at mark to market value at March 31, 2022) is not included in the cash accounting.

Q1 2022

vs

FY 2021

Shareholders Structure

As at 11 May, 2022 No. Shares 28,020,660