Wiit — Investor Presentation 2026

Mar 11, 2026

Investor Presentation

emarket: the average manner

A European Serial Acquirer in Cloud. Capital Allocation at its Best.

WIIT

Investor Presentation: FY 2025 Results

11 March 2026

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emarket: sdr storage
CENTRE
2
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Financials: FY2025 Results

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Investor Presentation

FY 2025 Re-
emarket
and services
aallon

Financial Highlights FY2025

167.9 M€

Revenue Adjusted +5.9%
vs FY 2024 (158.6 M€)
driven by ARR organic growth in Italy and Germany, and the contribution from the acquired companies/business units

136.6 M€

ARR +7.9%
vs FY2024 (126.6 M€)
88.7% of Tot. Revenue*
High revenue visibility and predictability

66.9 M€

Adj EBITDA +15.2%
vs FY2024 (58.0 M€)
Margin 39.8% (36.6% in FY2024)
(Like for like 40.1%)

34.1 M€

Adj. EBIT +17.3%
vs FY 2024 (29.0 M€)
Margin 20.3% (18.3% in FY2024)
(Like for like 20.1%)

16.5 M€

Adj. Net Profit +11.5%
vs FY 2024 (14.8 M€)
Financial Income and Expenses at €9.8 million, up by €1.3 million compared with the previous year. This amount is mainly attributable to interest on bond loans. Financial income amounted to €0.8 million.

156.3 M€

Adj. Net Debt**
excluding IFRS16 of 12.4 M€ and including the treasury shares value as 31 December 2025 of 56.1 M€

• ARR: revenues reported related to FY2025 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland (Econis AG).
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Investor Presentation

FY 2025 Report
Amended by the European Commission

Key Figures by Country

| Adj. Revenues | Italy
58.6 M€
34.9% of Group Revenues | Germany
89.3 M€
53.2% of Group Revenues | Swiss
20.0 M€
11.9% of Group Revenues | Group
167.9 M€ |
| --- | --- | --- | --- | --- |
| ARR** | 55.6 M€
91.0% of the total Revenues | 68.1 M€
93.5% of the total Revenues ex Gecko | 12.9 M€
64.4% of the total Revenues | 136.6 M€
88.7% of the total Revenues |
| Adj. EBITDA | 31.8 M€
47.5% Group EBITDA
54.2% EBITDA Margin | 32.6 M€
48.8% Group EBITDA
36.5% EBITDA Margin | 2.5 M€
3.7% of Group EBITDA
12.3% EBITDA Margin | 66.9 M€
39.8% EBITDA Margin |
| Adj. EBIT | 13.8 M€
40.5% of Group EBIT
23.5% EBIT Margin | 19.6 M€
57.7% of Group EBIT
22.0% EBIT Margin | 0.6 M€
1.9% of Group EBIT
3.2% EBIT Margin | 34.1 M€
20.3% EBIT Margin |

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Investor Presentation

FY 2025 Resid

amortized: 30% shareable

nashville

Cloud Direct Top Accounts	TOP 1	4.8%
	TOP 20	29.2%
	TOP 50	43.0%
	967 Number of Clients	200 Top Account	521 K€ Top Account Avg. FY2025 revenues	3.3 M€ Top 10 Avg. FY 2025 revenues

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Investor Presentation

FY 2025 Rev

emorket

our business

business

Hight Visibility of Business

• 5 years average contract period
• High penalties for early termination

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Investor Presentation

FY 2025 Report

emortet: The European Commission

FY2025 delivered strong ARR**

Group organic Recurring Revenues (ARR)**: +1.3% vs FY2025, +7.4% excluding churn, of which:

• Italy: 55.6 M€: +7.8% organic (+13.6% excluding churn);
• Germany 68.1 M€: +5.0% of which 62.7 M€ organic, -3.3% (+4.0% excluding churn);
• Switzerland 12.9 M€

The churn effect is mainly attributable to the strategic decision in Italy and in Germany to focus the portfolio on high value-added contracts with higher margins, in line with the premium positioning of the offering.

**ARR: revenues reported related to FY 2025 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland (Econis AG).

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Investor Presentation

FY 2025 Report

Q4 and FY2025 Adj EBITDA*: strong profitability

Focus on Cloud services, the level of optimization achieved in the organization of processes and operational services, cost synergies, and the continued improvement in margins of the acquired companies

Adj EBITDA Margin - Germany

Germany 36.5% (34.9% in FY2024). The 'like for like' margin (excluding Edge&Cloud and Michgehl & Partners) in Germany is 36.6% (34.9% in FY2024) and the 'like for like' margin exc. Gecko is 39.3% (36.9% in FY2024), 240bps higher than in the last year due to the increasing focus on higher value-added services.

Adj EBITDA Margin - Italy

Italy 54.2% (46.1% in FY2024), registering a significant progress compared to the previous year, up by 810 bps, due to the continuous focus on higher value-added services.

• The Adjustment at EBITDA level as at 31 December 2025 refers to the effects arising from scouting activities for extraordinary M&A transactions for €1.0 million, costs related to financial instrument-based incentive plans for €0.3 million, personnel reorganization costs of approximately €1.9 million, and other non-recurring costs of €0.2 million

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Investor Presentation

FY 2025

amortized. ISO 9001:2015 CERTIFIED

Q4 and FY2025 Adj EBIT*: continuous improvement in margin

Depreciation, amortisation and write-downs amounted to approximately 32.8M€, up by 3.8M€ compared to the previous year, reflecting the investments made in 2023 and 2024 to support Data Center capacity in Italy and Germany, as well as the impact of the companies acquired in 2024.

> Adj EBIT Margin – Italy
> 23.5% (19.2% in FY2024)
> Adj EBIT Margin – Germany
> 22.0% (21.7% in FY2024)

• The Adjustment applied at EBIT level as at 31 December 2025 refers to the above-mentioned adjustments at EBITDA level and to amortization relating to the PPA ("Purchase Price Allocation") arising from the acquisitions, amounting to €4.9 million

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Investor Presentation

FY 2025 Re:
emocket
for money
not for money
cash
10

FY2025 CAPEX: Well invested asset base ensure low, predictable maintenance CAPEX

m€

• Maintenance CAPEX
• Growht CAPEX
• Right of Use

• Total Cash Capex as a percentage of Revenues at 14.3% (19.9% in FY2024)
• Utilization rate of premium cloud data center: 51% in Italy and 53% in Germany. Opportunity to double revenues without extra investments in CAPEX
• Growth Capex 20% of the total value of new contracts

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Investor Presentation

egnocket

On-line

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FY 2025 Net Financial Position bridge

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Investor Presentation

emorket

The European

Fund for the Study of

Research

and Development

European

Fund for the Study of

European

Fund for the Study of

European

FY2020/FY2025 Net Financial Position and leverage trend

NFP Reported/Adj NFP Restated - Bond 2030

Leverage (NFP/EBITDA) /Adj Leverage, Restated Bond 2030

224.9 M€ Net Debt as of December 31st 2025

154.8 M€ Adj. Net Debt Restated Bond 2030 as of December 31st 2025

3.4 x Leverage as of December 31st 2025
2.6 x Adj. Leverage Restated Bond 2030 as of December 31st 2025

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