Wiit

Investor Presentation • Nov 7, 2024

WIIT takes your business above the clouds

9M 2024 Results Presentation

November 07, 2024

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.

This presentation ("Presentation") is confidential and, as such, has not been prepared with a view to public disclosure and, except with the prior written consent of the Company, it cannot be used by the recipient for any purpose nor can it be disclosed, copied, recorded, transmitted, further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose. Therefore, the recipient undertakes vis-à-vis the Company (i) to keep secret any information of whatever nature relating to the Company and its affiliates including, without limitation, the fact that the information has been provided ("Information"), (ii) not to disclose any Information to anyone, (iii) not to make or allow any public announcements or communications concerning the Information and (iv) to use reasonable endeavors to ensure that Information are protected against unauthorized access. This document is not an advertisement and in no way constitutes a proposal to execute a contract, an offer or invitation to purchase, subscribe or sell for any securities and neither it or any part of it shall form the basis of or be relied upon in connection with any contract or commitment or investments decision whatsoever. The Company has not prepared and will not prepare any prospectus for the purpose of the initial public offering of securities. Any decision to purchase, subscribe or sell for securities will have to be made independently of this Presentation. Therefore, nothing in this Presentation shall create any binding obligation or liability on the Company and its affiliates and any of their advisors or representatives.

This Presentation does not constitute an offer to the public in Italy of financial products, as defined under article 1, paragraph 1, letter (t) of legislative decree no. 58 of 24 February 1998, as amended. This Presentation is not for distribution in, nor does it constitute an offer of securities for sale in the United States of America, Canada, Australia, Japan or any jurisdiction where such distribution is unlawful, (as such term is defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act"). Neither this Presentation nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to any US person. Any failure to comply with this restriction may constitute a violation of United States securities laws. No representation or warranty, express or implied, is or will be given by the Company as to the accuracy, completeness or fairness of any information contained in these materials and, so far as is permitted by law and except in the case of fraud by the party concerned, no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for errors, omissions or misstatements, negligent or otherwise, relating thereto. In particular, but without limitation, no representation or warranty, express or implied, is or will be given as to the achievement or reasonableness of, and no reliance may be placed for any purpose on the accuracy or completeness of, any estimates, targets, projections or forecasts and nothing in these materials should be relied upon as a promise or representation as to the future. The information and opinions contained in this document are provided as at the date hereof and are subject to change without notice. The recipient will be solely responsible for conducting its own assessment of the information set out in the Presentation. Neither the Company and its affiliates, nor any of their advisors or representatives shall be obliged to furnish or to update any information or to notify or to correct any inaccuracies in any information. Neither the Company and its affiliates, nor any of their advisors or representatives shall have any liability to the recipient or to any of its representatives as a result of the use of or reliance upon the information contained in this document. Certain information contained in this Presentation may contain forward-looking statements which involve risks and uncertainties and are subject to change. In some cases, these forward-looking statements can be identified by the use of words such as "believe", "anticipate", "estimate", "target", "potential", "expect", "intend", "predict", "project", "could", "should", "may", "will", "plan", "aim", "seek" and similar expressions. The forecasts and forward-looking statements included in this document are necessarily based upon a number of assumptions and estimates that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies as well as assumptions with respect to future business decisions that are subject to change. By their nature, forward-looking statements involve known and unknown risks and uncertainties, because they relate to events, and depend on circumstances, that may or may not occur in the future. Furthermore, actual results may differ materially from those contained in any forward-looking statement due to a number of significant risks and future events which are outside of the Company's control and cannot be estimated in advance, such as the future economic environment and the actions of competitors and others involved on the market. These forward-looking statements speak only as at the date of this Presentation. The Company cautions you that forward looking-statements are not guarantees of future performance and that its actual financial position, business strategy, plans and objectives of management for future operations may differ materially from those made in or suggested by the forward-looking statements contained in this Presentation. In addition, even if the Company's financial position, business strategy, plans and objectives of management for future operations are consistent with the forward-looking statements contained in this Presentation, those results or developments may not be indicative of results or developments in future periods. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

By accepting this Presentation, you acknowledge and agree to be bound by the foregoing terms, conditions, limitations and restrictions.

+7.2%

Ebit Adjusted

22.5 M€ vs 21.0 M€ in 9M 2023 Ebit margin Adj. of 19.6% (Like for like margin of 23%)

+4.6% Net Profit Adjusted 12.2 M€ vs 11.6 M€ in 9M 2023

161.2 M€

Net debt Adjusted (excluding IFRS16 and

including the treasury shares value at September 30, 2024) 154.2 M€ at December 31, 2023

Revenues Adjusted +19.7% 115.2 M€ vs 96.2 M€ in 9M 2023

+12.9%

Ebitda Adjusted

42.6 M€ vs 37.7 M€ in 9M 2023 EBITDA margin Adj. of 37% (Like for like margin of 41.6%)

Financial Highlights vs 9M 2024 9M 2023 +50.2% Net Profit Reported

10.2 M€ vs 6.8 M€ in 9M 2023

Key Figures by Country

4

Italy Germany Swiss*

REVENUES Adj.

44.4 M€

38.5% of Group Revenues

61.7 M€

53.6% of Group Revenues

9.0 M€ 7.9% of Group Revenues

EBITDA Adj.

20.5 M€ 48.0% Group EBITDA 46.1% EBITDA Margin

21.8 M€

51.2% Group EBITDA 35.4% EBITDA Margin

0.3 M€

0.8% of Group EBITDA 3.6% EBITDA Margin

EBIT Adj.

9.0 M€ 39.7% of Group EBIT 20.2% EBIT Margin

14.4 M€

63.9% of Group EBIT 23.2% EBIT Margin

-0.8 M€ -3.7% of Group EBIT -9.1% EBIT Margin

Revenues Adjusted* +19.7% 115.2M€ vs 96.2 M€ in 9M 2023

•Increase driven by organic growth, guided by the development of higher value-added services, cross-selling to customers of the new acquired companies, the entry of new customers and the consolidation of the newly acquired Companies;

•Organic growth +6.1%:

• Italy +4.8% (Core Revenues +5.2%) vs 9M 2023
• Germany +7.6% (Core Revenues +7.3%) vs 9M 2023

•Contribution of newly acquired Companies:

• Edge & Cloud Revenues at 4.4 M€ (100% Core), consolidated from April 1, 2024
• Econis AG Revenues at 9.0 M€ (77% Core), consolidated from May 1, 2024

*The Adjustment at Revenues level at 30 September 2024 refers to 1.8 M€ related to the negative goodwill component (bargain purchase) obtained from the difference between the price paid for the acquisition of Econis, and the value of the acquired company's assets, which is lower than the price paid.

Financial Highlights vs 9M 2024 9M 2023

Revenues breakdown 9M 2024

Group 86.5%: Italy 84.0% Germany 99.0% Swiss 68.0%

ARR

Total Group Revenues 115.2 M€ Core Group 99.1 M€ of which: Italy 43.3 M€ Germany 48.9 M€ Swiss 6.9 M€

Core Revenues + 19.7%

• Interest of many customers and prospects in our fully managed, secure and premium region-based Cloud Native offering, leveraging on Tier IV data center
• Continued development of the Commercial Pipeline in Italy and Germany in the Manufacturing, Digital Media, ISV and CPG sectors where the Group is increasing its own market share to support future development
• Focus on Cloud, optimized processes and operating services organization on organic base;
• Adjusted Operating Costs of approximately 37.3 M€ show an increase of 5.5 M€ mainly attributable to the consolidation of the companies acquired in Germany and Swiss, only partially offset by the cost synergies from the mergers in Italy and Germany. The effect of the cost synergies related to the new acquisitions will be reflected in the numbers in the next 12 months
• Adjusted Personnel Costs of approximately 34.8 M€ show an increase of 9.7 M€; this change is almost entirely attributable to the impact of new acquisitions and, to a lesser extent, to investments in the corporate and commercial structure supporting business development
• EBITDA Margin Adj. at 37.0% (Margin like for like at 41.6% vs 39.2% in 9M 2023):
  • Italy 46.1% (43.0% in 9M 2023) progressively improving Q/Q margin (47.34% in Q3 2024)
  • Germany 35.4% , WIIT AG exc. Gecko 37.3%, Germany like for like of 38.1% of which WIIT AG exc. Gecko 41% (respectively 33.8% in 9M2023 and 36.4% in 9M 2023).

* The Adjustment refers to the costs related to stock option and stock grant plans for 0.6 M€, to the M&A transactions for 0.5 M€, to personnel reorganisation for 0.23 M€ and to the bargain purchase effect of 1.8 M€ due to the acquisition of Econis AG.

Ebitda Adjusted*

42.6 M€ vs 37.7 M€ in 9M 2023 EBITDA margin Adj. of 37.0% (41.6% Like for Like) in 9M 2024

+12.9%

Financial Highlights

vs 9M 2024 9M 2023

Ebit Adjusted*

22.5 M€ vs 21.0 M€ in 9M 2023 EBIT margin Adj. of 19.6% EBIT margin Adj. like for like of 23% (EBIT margin Adj. of 21.9% in 9M 2023)

Net Profit Adjusted** +4.6% 12.2 M€ vs 11.6 M€ in 9M 2023

Net Profit Reported +50.2% 10.2 M€ vs 6.8 M€ in 9M 2023

* The Adjustment refers to the Purchase Price Allocation of the acquisition for 3.6 M€ and it includes the variations for EBITDA Adjustmenttoo.

** The Adjustmentincludes the fiscal effect of the already described normalization at EBITDA and EBIT level

Financial Highlights vs 9M 2024 9M 2023

215.3 M€ Net debt

(including IFRS16 and excluding the treasury shares value at September 30, 2024 (202.2 M€ as at December 31, 2023)

•Operating cash flow generation of 27.2 M€

• •The price paid for the acquisitions of Edge&Cloud in Germany in April and Econis in Switzerland;
• •The purchase of treasury shares for 0.7 M€ ;
• •CAPEX of approximately 22.8 M€ for IT infrastructure related to new contracts signed during the year in both Italy and abroad, particularly a five-year contract renewal for approximately 3.5 M€, concentrated in the first quarter including the investments in rights of use amounting to approximately 12.7 M€ (IFRS16 leasing fees, rental fees, and vehicles);
• •Dividends paid totaling 7.8 M€.

Financial Highlights vs 9M 2024 FY 2023

(*) Alessandro Cozzi and his own companies

Shareholders' Structure

At November 07, 2024 No. Shares 28.020.660