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26 August 2026 SOFTWAREONE H1 2026 Results
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2 Disclaimer H1 2026 RESULTS THIS PRESENTATION AND ITS CONTENTS ARE NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS PRESENTATION IS NOT AN OFFER OR INVITATION TO BUY OR SELL SECURITIES IN ANY JURISDICTION. This presentation and its appendices (the "Presentation") has been produced by SoftwareOne Holding AG (the "Company" or "SoftwareOne", and together with its direct and indirect subsidiaries, the "Group). The Presentation is intended for information purposes only, and does not itself constitute, and should not in itself be construed as, an offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction and is not intended for distribution to, or to be used by, any person or entity in any jurisdiction or country which distribution or use would be contrary to law or regulation. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information or opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and, accordingly, no representation or warranty is made or given by or on behalf of the Company, or any of its respective directors, officers, employees, agents or advisers as to the accuracy, completeness or fairness of the information or opinions contained herein and no responsibility or liability is accepted by any of them for any such information or opinions. In particular, no representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on any projections, targets, ambitions, estimates or forecasts contained herein and nothing in this Presentation is or should be relied on as a promise or representation as to the future. Recipients of this Presentation should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters, and are to make their own assessments concerning such matters and other consequences of a potential transaction, including the merits of the transaction and related risks. Each recipient should seek its own independent advice in relation to any financial, legal, tax, accounting or other specialist advice. In particular, nothing herein shall be taken as constituting the giving of investment advice and this Presentation is not intended to provide, and must not be taken as, the exclusive basis of any transaction decision and should not be considered as a recommendation by the Company (or any of its affiliates) that any recipient enters into any transaction. This Presentation comprise a general summary of certain matters of the Group, Crayon Group Holding ASA and the proposed transaction described herein. This Presentation does not purport to contain all information that any recipient may require to make a decision with regards to any transaction. Any decision as to whether or not to enter into any transaction should be taken solely by the relevant recipient. Before entering into such transaction, each recipient should take steps to ensure that it fully understands such transaction and has made an independent assessments of the appropriateness of such transaction in the light of its own objectives and circumstances, including the possible risks and benefits of entering into such transaction. This Presentation contains information obtained from third parties. Such information has been accurately reproduced and, as far as the Company is aware and able to ascertain from the information published by that third party, no facts have been omitted that would render the reproduced information inaccurate or misleading. By receiving this Presentation, you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Group and that you will conduct your own analysis and are solely responsible for forming your own opinion of the potential future performance of the Group‘s business. In making any transaction decision, you must rely on your own examination, including the merits and risks involved.
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3 Disclaimer (continued) H1 2026 RESULTS Forward-looking statements This Presentation may contain certain forward-looking statements relating to the Company and/or the Group and its future business, development and economic performance. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, , including assumptions, opinions and views of the Company or cited from third party sources, may be subject to a number of risks, uncertainties and other important factors, such as but not limited to force majeure, competitive pressures, legislative and regulatory developments, global, macroeconomic and political trends, the group’s ability to attract and retain the employees that are necessary to generate revenues and to manage its businesses, fluctuations in currency exchange rates and general financial market conditions, changes in accounting standards or policies, delay or inability in obtaining approvals from authorities, technical developments, litigation or adverse publicity and news coverage, each of which could cause actual development and results to differ materially from the statements made in this presentation. SoftwareOne assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise. Non-IFRS measures Certain financial data included in this Presentation consists of non-IFRS or adjusted financial measures. These non-IFRS or adjusted financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS or adjusted financial measures and ratios included herein. In addition, certain financial information contained herein has not been audited, confirmed or otherwise covered by a report by independent accountants and, as such, actual data could vary, possibly significantly, from the data set forth herein. THIS PRESENTATION SPEAKS AS OF THE DATE HEREOF. ALL INFORMATION IN THIS PRESENTATION IS SUBJECT TO UPDATES, REVISION, VERIFICATION, CORRECTION, COMPLETION, AMENDMENT AND MAY CHANGE MATERIALLY AND WITHOUT NOTICE.
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Agenda and speakers H1 2026 RESULTS 4 Raphael Erb CEO Hanspeter Schraner CFO H1 2026 business update 1 H1 2026 financial update 2 2026 outlook & final remarks 3 Q&A 4
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Strong performance across key KPIs H1 2026 BUSINESS UPDATE 5 11.6% YoY ccy Revenue growth 24.9% +4.5 pp YoY Adj. EBITDA margin 69% Cash conversion LTM to June 2026 (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. CHF 100m Cost synergies delivered 6 months ahead of initial schedule H1 2026 financials(1) 10.4% Revenue growth YoY ccy 28.9% Adj. EBITDA margin +5.4 pp YoY Q2 2026 (1)
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(1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. (2) Crayon consolidated from 1 July 2025. MPMs refer to management-defined performance measures. (3) Combined like-for-like YoY revenue growth is calculated vs Q2 2025 and H1 2025 adjusted revenue. IFRS YoY revenue growth is calculated vs Q2 2025 and H1 2025 reported revenue. (4) % of revenue. H1 2026 BUSINESS UPDATE 6 Combined like-for-like(1) IFRS and MPMs(2) Continued growth momentum and substantial margin expansion Combined like-for-like(1) IFRS and MPMs(2) CHFm Q2 2026 % YoY % YoY H1 2026 % YoY % YoY Gross sales 5,610.1 - 62.8% 9,269.2 - 50.6% Revenue(3) 430.6 10.4% 68.9% 818.3 11.6% 68.2% Adjusted EBITDA 124.4 37.3% 80.8% 203.8 35.5% 77.6% Adjusted EBITDA margin(4) 28.9% 5.4 pp 2.0 pp 24.9% 4.5 pp 1.4 pp Reported EBITDA 114.4 44.3% 95.9% 185.4 54.4% > 100% Reported EBITDA margin(4) 26.6% 6.5 pp 3.7 pp 22.7% 6.8 pp 5.2 pp ccy ccy ccy ccy
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H1 2026 BUSINESS UPDATE Combined like-for-like(1) revenue, CHFm, % YoY ccy Adjusted EBITDA margin, % of revenue(2) Software & Cloud Direct Software & Cloud Channel Software & Cloud Services 190.3 183.0 344.2 336.8 27.4 36.5 59.1 76.9 178.5 211.1 355.9 404.6 H126 Q225 H125 H126 Q225 Q226 H125 H126Q226Q225 Q226 H125 (1.8)% 1.5% 33.7% 35.6% 19.8% 17.4% 54.7% 55.8% 50.9% 50.8% 44.6% 53.9% 47.8% 57.2% 5.1% 11.6% 3.3% 8.5% • H1 2026 growth driven by continued EA to CSP conversion. • EA to CSP conversion continued in Q2 26, however revenue declined versus Q2 25, as the comparative period benefited from several larger deals. We expect Direct to return to growth in H2 2026. • H1 2026 growth was led by CSP business. • In Q2 2026, continued CSP growth was complemented by strong growth from other ISVs, with AWS at the forefront. • The expansion of Cloud IQ to countries where the platform was not previously available, also contributed to Q2 2026 growth. • H1 2026 growth led by CSP related services. • In Q2 2026, CSP related services remained a key growth driver, reflecting further acceleration in EA to CSP conversion. Cloud Services, especially in AWS and Google, Data & AI, and Cyber Security continued to deliver strong performance. Combined like-for-like(1) revenue, CHFm, % YoY ccy Adjusted EBITDA margin, % of revenue(2) Adjusted EBITDA margin, % of revenue(2) Combined like-for-like(1) revenue, CHFm, % YoY ccy Exceptional Channel growth and strong Services performance 7 (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. (2) 2025 business line adjusted EBITDA margin represents management estimates based on cost allocation assumptions that may vary over time. Due to the use of estimates and cost allocation assumptions, the information should be interpreted with caution as is not designed to support detailed quarter-by-quarter trend analysis.
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Broad-based growth continues, with NORAM delivering a second consecutive quarter of growth H1 2026 BUSINESS UPDATE 8 Revenue by region, CHFm, % YoY ccy On a combined like-for-like basis(1) (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. DACH Q2 2026 93.7 5.3% H1 2026 180.4 6.8% NORAM Q2 2026 49.9 7.5% H1 2026 92.6 8.6% WEMEA Q2 2026 90.6 12.3% H1 2026 169.9 11.7% APAC Q2 2026 84.0 27.0% H1 2026 151.0 23.0% NORDICS Q2 2026 65.1 19.6% H1 2026 133.5 26.0% LATAM Q2 2026 25.5 4.6% H1 2026 49.3 6.9% CEE Q2 2026 22.9 15.4% H1 2026 42.2 16.7%
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Allianz Ayudhya: from large scale cloud transformation execution to strategic partnership H1 2026 BUSINESS UPDATE “Toxic” servers migrated to AWS 500+ Reduction in operational run costs 24% Cloud adoption achieved after migration 76% Apps refactored and migrated to AWS 300+ 9 "We work together strategically. We have detailed discussions about how we can build for the future, and how we can optimize and modernize our applications and IT landscape.“ Kristphop Chotjirathanont, Head of Country Enterprise Architecture, Allianz Ayudhya Property & Casualty infrastructure migration to AWS Data center & cloud environment consolidation Life & Health infrastructure migration to AWS Oracle optimization Benefits realized Life & Health claims process modernization platform Cloud adoption rate increased from 30% to 45% 4 data centers reduced to 2 300+ apps refactored and migrated from Azure to AWS Cloud adoption reached 76% Lower complexity & license needs Operational run costs for servers and data centers reduced from USD 8m in 2024 to USD 6m in 2026 SoftwareOne secured the project 2023 2023-25 2025 2023-25 2026 2026-27
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10 H1 2026 financial update Hanspeter Schraner CFO H1 2026 RESULTS
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Growth and disciplined cost management drives further margin expansion H1 2026 FINANCIAL UPDATE 11 • 2026 income statement includes Crayon, which significantly shapes YoY comparisons. • H1 2026 revenue was supported by high volume of multi-year CSP agreements and early renewals triggered by Microsoft price increases in July 2026. • Reported EBITDA margin improvement driven by revenue growth and disciplined cost management. • Increase in DA&I driven by PPA related amortization of intangible assets. • Increase in net financial items was primarily driven by Crayon acquisition financing costs. In addition, prior period was positively impacted by Crayon share price valuation. • H1 2026 effective tax rate impacted by non-capitalized tax losses and non-tax- deductible expenses. Figures may not sum due to rounding. (1) % of revenue. IFRS income statement summary Crayon consolidated from 1 July 2025 CHFm Q2 2026 Q2 2025 % Δ H1 2026 H1 2025 % Δ Revenue 430.6 254.9 68.9% 818.3 486.6 68.2% OPEX (316.2) (196.6) 60.9% (632.9) (401.6) 57.6% Reported EBITDA 114.4 58.4 95.9% 185.4 85.0 > 100% Reported EBITDA margin(1) 26.6% 22.9% 3.7 pp 22.7% 17.5% 5.2 pp Depreciation, amortization and impairments (33.0) (19.9) 65.8% (64.5) (40.2) 60.4% Net financial result (17.4) (0.6) > 100% (27.0) (11.7) > 100% Income tax expenses (20.6) (12.9) 60.0% (39.6) (23.2) 70.7% Reported profit for the period 43.4 25.0 73.8% 54.3 9.9 > 100%
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Adjustment levels remain low, Crayon integration expenses below expected range H1 2026 FINANCIAL UPDATE 12 • H1 2026 adjustments mainly related to Crayon integration. • Since the start of the integration in 2025, cumulative Crayon integration expenses total CHF 42.3m as of H1 2026. • By FY 2027, total cumulative integration expenses are expected to be in the range of CHF 75-85m, below the initial expected range of CHF 80- 100m. • Additional cost synergies of CHF 5–10m to be realized in H2 2026. ~CHF 20m integration cost are expected for H2 2026. • Completion of IT, legal entity mergers and process harmonization to be completed by FY 2027. Figures may not sum due to rounding. (1) % of revenue. IFRS reported EBITDA to adjusted EBITDA bridge Crayon consolidated from 1 July 2025 CHFm Q2 2026 Q2 2025 Δ H1 2026 H1 2025 Δ Reported EBITDA 114.4 58.4 56.0 185.4 85.0 100.3 Reported EBITDA margin(1) 26.6% 22.9% 3.7 pp 22.7% 17.5% 5.2 pp EBITDA adjustments 10.0 10.4 (0.4) 18.4 29.7 (11.3) Crayon acquisition – integration expenses 9.5 2.6 6.9 16.9 2.6 14.3 Crayon acquisition – transaction expenses (0.7) 9.2 (9.9) (0.7) 9.2 (9.9) Other adjustments 1.2 (1.4) 2.6 2.3 17.9 (15.7) Adjusted EBITDA 124.4 68.8 55.6 203.8 114.7 89.1 Adjusted EBITDA margin(1) 28.9% 26.9% 2.0 pp 24.9% 23.5% 1.4 pp
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H1 2026 FINANCIAL UPDATE 13 (1) Changes displayed are in constant currency. (2) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. (3) Other includes mainly management consulting and strategy support, legal fees related to special projects, audit fees related to Crayon acquisition, software costs related to the combination of SoftwareOne and Crayon, as well as bad debt. Stable cost base supported by cost synergies 10 22 18 10 18 Reported OPEX H1 2025 Adjust Adjusted OPEX H1 2025 Cost synergies Investments for growth Performance related compensation 3rd party delivery expenses FX and other Adjusted OPEX H1 2026 604.4 (37) (13) 614.5 632.9 Adjust Reported OPEX H1 2026 PEX inflation 637.0 (33) OPEX development(1), in CHFm On a combined like-for-like basis(2) (3)
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Balance sheet development during the first six months of 2026 H1 2026 FINANCIAL UPDATE 14 Figures may not sum due to rounding. IFRS Condensed balance sheet Crayon consolidated from 1 July 2025 CHFm Jun 2026 Dec 2025 Jun 2025 Cash and cash equivalents 382.8 419.1 655.1 Financial assets - - 71.5 Bank overdrafts (0.2) - - Other financial liabilities (790.6) (788.4) (690.4) Net debt/(cash) 408.0 369.3 (36.2) Trade and other receivables, prepayments and contract assets 4,779.9 3,761.4 3,137.3 Trade and other payables, accrued expenses and contract liabilities (5,289.1) (4,339.3) (3,353.8) Net working capital (509.2) (578.0) (216.6) Tangible fixed assets 36.7 37.0 30.1 Intangible assets 1,891.5 1,903.9 650.7 Other assets, net (18.2) (12.5) 8.0 Equity 992.7 981.4 508.4 • As of June 2026, other financial liabilities include a term loan of CHF 550m, and CHF 200m drawn under the revolving credit facility. The bridge loan was repaid in January 2026. • June 2025 cash and cash equivalents and other financial liabilities included CHF 424.2m drawdown of the bridge facility ahead of the settlement of the Crayon transaction. • Financial assets in June 2025 included the Crayon shares held by SoftwareOne. • NWC after factoring improved versus June 2025, primarily reflecting Crayon’s NWC acquired. • Intangible assets increased versus June 2025, mainly due to the goodwill and intangible assets recognized in connection with the Crayon acquisition. • The Group has now finalized the purchase accounting of the Crayon acquisition. Provisional amounts recognized during the acquisition date have been adjusted. The changes resulted in a corresponding goodwill adjustment of CHF 22.5 million on 2 July 2025 i.e., December 2025.
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Net working capital remains a key focus area H1 2026 FINANCIAL UPDATE During the LTM to June 2026, on a combined like-for-like basis(3): • NWC before factoring improved by CHF 46.0m. • The utilization of short-term factoring decreased by CHF 12.0m. Continued high focus on improving NWC-related processes. 15 Factoring includes short-term factoring only, with financing terms of less then one year. (1) June 2025 NWC before factoring of SoftwareOne standalone revised from CHF 271.9m to CHF 183.5m. (2) Includes the impact of aligning Crayon's accounting policies with SoftwareOne's and the reassessment of certain Crayon’s balance sheet risks following the acquisition, totaling minus CHF 32.1m. (3) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. H1 2025 Combined like-for-like NWC after factoring revised from minus CHF 457.9m to minus CHF 475.3m. 183.5 (65.7) (111.7) Jun-25 SoftwareOne standalone Jun-25 Crayon’s NWC Jun-25 Combined like-for-like Jun-26 (249.2) -46.0 (216.6) (475.3) (509.2)(258.7) Jun-25 SoftwareOne standalone Jun-25 Crayon’s NWC Jun-25 Combined like-for-like Jun-26 -34.0 NWC before factoring LTM to June 2026, in CHFm NWC after factoring LTM to June 2026, in CHFm (1) (2)(2) (3) (3)
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69% LTM cash conversion excluding impact from factoring H1 2026 FINANCIAL UPDATE Capex breakdown LTM to June 2026, in CHFm 11 7 21 33 Capex IT Platform Services Other (1) 71.9 16 271.6 283.6 211.7 12.0 Operating cash flow Change in factoring Operating cash flow less change in factoring Capex Free cashflow (71.9) 308.0 EBITDA Cash conversion LTM to June 2026, in CHFm 69% (1) Other includes capex on tangible and intangible assets.
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Cash flow development during the first six month of 2026 H1 2026 FINANCIAL UPDATE CHFm Jun 2026 Jun 2025 Profit for the period 54.3 9.9 Working Capital changes (72.1) 81.8 Non-cash items 126.6 12.1 Income taxes paid (18.6) (16.7) Net cash generated from operating activities 90.1 87.1 Capex (36.5) (30.1) Other (incl. financial items and acquisition of businesses)(1) 2.2 (34.6) Net cash used in investing activities (34.2) (64.7) Net proceeds/(repayments) from financial liabilities (34.0) 427.8 Other (incl. interest, dividends, share-related transactions)(2) (68.4) (58.5) Net cash used in financing activities (102.4) 369.3 Cash and cash equivalents at beginning of period 419.1 271.3 Net FX difference on cash and cash equivalents 10.1 (7.9) Cash and cash equivalents at end of period 382.8 655.1 IFRS Consolidated statement of cash flow Crayon consolidated from 1 July 2025 17 Figures may not sum due to rounding. (1) Includes financial items. Including settlement from swap contracts and acquisition of businesses (net of cash acquired). (2) Includes dividends, share-related transactions, interest and NCI. • Positive operating cash flow in the first six months of 2026, driven by profitability. • The cash outflow from the change in NWC was CHF 72.1m, mainly driven by seasonality. The prior period benefitted from the implementation of the then-new non-recourse factoring program. • Investing cash flow in the first six months of 2026 was primarily driven by capex. Capex cash outflows amounted to CHF 36.5m, in line with the prior period, mainly reflecting investments in internal IT and platforms. • The prior period’s investing cash flow was negatively impacted by the settlement of financial liability related to the swap agreement entered into in connection with the investment in Crayon. • Financing cash flow negatively impacted by the acquisition of Crayon minority interests. • The prior period’s financing cash flow benefited from the CHF 424.2m drawdown of the Crayon acquisition bridge facility.
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Net debt increased due to Crayon acquisition H1 2026 FINANCIAL UPDATE 18 (1) After factoring; some bridge items reflect cash inflows / outflows while other expenses. (2) Leverage is defined as net debt after factoring, over adjusted EBITDA. (3) Includes Crayon acquisition cash consideration of CHF 504.8m, Crayon’s cash acquired of CHF 217.3m as well as Crayon’s debt acquired of CHF 117.3m. (4) Includes dividend paid of CHF 32.9m over the LTM to June 2026 and cash outflow for the acquisition of Crayon NCI for CHF 7.2m over the LTM to June 2026. Net debt/(cash) development(1), CHFm Crayon consolidated from 1 July 2025 (36.2) 440.1 408.0 71.5 23.3 33.7 52.7 71.9 98.6 40.1 13.7 Net cash Jun-25 SoftwareOne standalone Crayon aqusition Impact from derecognition of investment in Crayon Net debt Jun-25 post Crayon acquisition impact Adjusted EBITDA Change in NWC after factoring Capitalized leases Crayon transaction and integration expenses Capex Income taxes and interest paid Dividend paid and acquisition of Crayon NCI FX and other Net debt Jun-26 404.8 (366.1) (3) (4) 1.1xLeverage(2) LTM to June 2026
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19 2026 outlook & final remarks Raphael Erb CEO H1 2026 RESULTS
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Delivering on all targets 2026 OUTLOOK & FINAL REMARKS 20 (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. (2) % of revenue. FY 2025 LTM Guidance 2026 Guidance 2030 Revenue growth On a combined like-for-like basis(1) 1.4% YoY ccy 8.9% YoY ccy Mid to high-single digit YoY ccy High-single digit 2026-2030 CAGR EBITDA margin(2) On a combined like-for-like basis(1) 20.9% adjusted 23.2% adjusted > 23% adjusted > 28% reported Dividend payout % of profit for the year 37% n.a. 30-50% of adjusted profit 30-50% of reported profit Cash conversion % of EBITDA for the year n.a. 69% reported > 60% reported > 60% reported • Early renewals and multi-year CSP contracts positively impacted H1 2026. • H2 2026 growth is expected to moderate as the above tailwinds unwind and the comparison base in H2 2025 becomes more challenging.
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2026 OUTLOOK & FINAL REMARKS 21 Mid-term margin expansion driven by further efficiencies, Channel operating leverage, and improving Services margin Continuous cost discipline Continued benefits from a more efficient operating model CHF 100m cost synergy program delivered in H126 > 28% EBITDA margin > 23% Adjusted EBITDA margin AI & automation efficiencies ~3pp Efficiency gains from embedding AI and automation across internal processes Scaling Channel business ~1pp Growth drives disproportionate margin expansion as we scale the existing footprint and expand into new markets Services business mix shift ~1pp No margin dilution as AI drives scalable delivery model and SG&A efficiency 20302026 +5 pp improvement linear phasing
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2026 OUTLOOK & FINAL REMARKS 22 Executive Board for the next phase of execution, closer to customers and partners Raphael Erb Chief Executive Officer Hanspeter Schraner Chief Financial Officer Regina Manfredi President Americas Varun Paliwal President APAC Rico Andreoli President EMEA Guðmundur Aðalsteinsson Chief Channel & Ecosystems Officer
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From integration to execution 2026 OUTLOOK & FINAL REMARKS 23 Shifting focus from integration to commercial execution and customer value creation. On track to deliver on our 2026 financial targets. Continued focus on sustainable working capital improvements to further strengthen cash generation.
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Q&A www.softwareone.com H1 2026 RESULTS
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Appendix www.softwareone.com H1 2026 RESULTS
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26 Management-defined performance measures H1 2026 RESULTS SoftwareOne has defined a set of non-IFRS, or management-defined financial measures, which reflect the company’s internal approach to analyzing its performance and which are also disclosed externally. These measures allow key decision makers at SoftwareOne to manage the company and make investment decisions. The company believes that such measures are also frequently used by external stakeholders such as sell-side research analysts, investors, and other interested parties to evaluate peers in the same industry. Non-IFRS financial measures and Group key performance indicators (KPIs) The Group presents non-IFRS financial measures used by management to monitor the company’s performance, which may be helpful to external stakeholders in evaluating SoftwareOne’s financial results compared to industry peers. They include the following: Adjusted EBITDA is defined as the underlying earnings before net financial items, tax, depreciation, and amortization, adjusted for items affecting comparability in operating expenses. Adjusted EBITDA margin is defined as adjusted EBITDA divided by revenue. Adjusted profit for the period is defined as the profit/(loss) for the period, adjusted for items impacting comparability in operating expenses and net finance income/(expenses) as well as the related tax impact. Cash conversion is defined as operating cash flow adjusted for change in factoring utilization, less capex over reported EBITDA. Contribution margin is defined as revenue net of third-party service delivery costs and directly attributable internal delivery costs. Gross sales is an alternative performance measure and represents the gross sales before the IFRS15 net-down process is applied to certain items (agent). Growth at constant currencies is defined as the change between two periods presented on a constant currency basis for comparability purposes and to assess the group’s underlying performance. Period profit and loss figures are translated from the subsidiaries’ respective local currencies into Swiss francs at the applicable average exchange rate of the prior-year period. This calculation is based on the underlying management accounts. Like-for-like combined figures are based on historical like-for-like financials as if the acquisition of Crayon had been completed on 1 January 2024. Net debt/(cash) comprises group bank overdrafts, other current and non-current financial liabilities less cash and cash equivalents and current financial assets. Net working capital is defined as the group’s trade receivables, current other receivables, prepayments and contract assets minus trade payables, current other payables and accrued expenses and contract liabilities.
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Business line profit & loss summary H1 2026 RESULTS in CHFm Software & Cloud Direct Software & Cloud Channel Software & Cloud Services Corporate Q2 2026 % Δ ccy(2) H1 2026 % Δ ccy(2) Q2 2026 % Δ ccy(2) H1 2026 % Δ ccy(2) Q2 2026 % Δ ccy(2) H1 2026 % Δ ccy(2) Q2 2026 H1 2026 Revenue 183.0 (1.8)% 336.8 1.5% 36.5 33.7% 76.9 35.6% 211.1 19.8% 404.6 17.4% Delivery costs (6.3) (62.1)% (12.7) (60.7)% - - - - (120.2) 15.9% (233.6) 13.4% Contribution margin 176.8 4.0% 324.2 8.5% 36.5 33.7% 76.9 35.6% 90.9 25.4% 171.0 22.9% Contribution margin(3) 96.6% 5.5 pp 96.2% 6.0 pp 100.0% - 100.0% - 43.1% 1.6 pp 42.3% 2.3 pp SG&A (74.6) 9.7% (153.1) 17.3% (16.8) 14.0% (32.9) 13.0% (66.4) 4.1% (136.6) 9.8% (21.9) (45.7) Adjusted EBITDA 102.1 0.2% 171.1 1.7% 19.7 57.2% 43.9 59.4% 24.5 178.8% 34.4 136.9% (21.9) (45.7) Adjusted EBITDA margin(3) 55.8% 1.1 pp 50.8% (0.1) pp 53.9% 9.3 pp 57.2% 9.3 pp 11.6% 6.6 pp 8.5% 5.2 pp Figures may not sum due to rounding. 2025 business line delivery costs, contribution margin and SG&A represents management estimates based on cost allocation assumptions that may vary over time. Due to the use of estimates and cost allocation assumptions, the related information should be interpreted with caution as is not designed to support detailed quarter-by-quarter trend analysis. (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. (2) In constant currency. (3) % of revenue. Combined like-for-like(1) 27
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28 Quarterly summary by business line H1 2026 RESULTS in CHFm Q4 2024 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2025 Q1 2026 Q2 2026 Revenue Software & Cloud Direct 177.1 732.0 153.9 190.3 139.7 187.5 671.3 153.8 183.0 Revenue Software & Cloud Channel 25.9 106.9 31.6 27.4 31.4 30.0 120.4 40.4 36.5 Revenue Software & Cloud Services 185.3 711.5 177.4 178.5 173.2 197.4 726.4 193.5 211.1 Total revenue 388.3 1,550.4 362.9 396.2 344.2 414.9 1,518.2 387.7 430.6 OPEX Software & Cloud Direct (84.1) (377.5) (82.7) (86.3) (82.0) (87.3) (338.2) (84.8) (80.9) OPEX Software & Cloud Channel (15.2) (55.2) (15.6) (15.2) (14.0) (17.8) (62.6) (16.1) (16.8) OPEX Software & Cloud Services (182.0) (703.5) (174.7) (169.5) (164.9) (181.1) (690.2) (183.6) (186.6) Corporate expenses (19.5) (98.1) (28.0) (32.4) (18.1) (31.6) (110.2) (23.7) (21.9) Total OPEX (300.8) (1,234.2) (301.0) (303.4) (278.9) (317.8) (1,201.2) (308.3) (306.2) Adjusted EBITDA Software & Cloud Direct 93.0 354.5 71.2 104.0 57.7 100.2 333.1 69.0 102.1 Adjusted EBITDA Software & Cloud Channel 10.7 51.7 16.0 12.2 17.4 12.2 57.8 24.3 19.7 Adjusted EBITDA Software & Cloud Services 3.3 8.1 2.7 9.0 8.3 16.3 36.2 9.9 24.5 Corporate expenses (19.5) (98.1) (28.0) (32.4) (18.1) (31.6) (110.2) (23.7) (21.9) Total adjusted EBITDA 87.5 316.2 61.9 92.9 65.2 97.1 317.0 79.4 124.4 Adjusted EBITDA margin, % revenue 22.5% 20.4% 17.0% 23.4% 19.0% 23.4% 20.9% 20.5% 28.9% Figures may not sum due to rounding. 2025 business line adjusted EBITDA margin represents management estimates based on cost allocation assumptions that may vary over time. Due to the use of estimates and cost allocation assumptions, the information should be interpreted with caution as is not designed to support detailed quarter-by-quarter trend analysis. (1) Based on like-for-like historical financials as if the acquisition of Crayon had been completed on 1 January 2024. Combined like-for-like(1)
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29 H1 2026 FX exposure H1 2026 RESULTS (1) Based on management accounts. 7.6% 4.4% 32.0% 12.6% 8.6% 34.8% Revenue by currency(1) 8.1% 5.1% 33.6% 14.7% 5.5% 33.0% OPEX by currency(1) EUR USD CHF NOK GBP Other • Other includes more than 20 currencies for both revenue and OPEX.
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30 IFRS reported to adjusted profit H1 2026 RESULTS Crayon consolidated from 1 July 2025 in CHFm H1 2026 H1 2025 Reported profit for the period 54.3 9.9 Revenue recognition adjustment IFRS 15 - 0.9 Crayon acquisition - transaction expenses (0.7) 9.2 Crayon acquisition - integration expenses 16.9 2.6 Other integration, M&A and earn-out expenses 1.6 2.7 Cost reduction program - 19.1 Discontinuation of MTWO vertical - 0.3 Other non-recurring items 0.7 (5.1) Total revenue and operating expense adjustments 18.4 29.7 Impact of adjustments on financial result - (6.2) Tax impact of adjustments (2.2) (3.8) Adjusted profit for the period 70.6 29.6 Figures may not sum due to rounding. Source: Management view.
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31 Balance sheet H1 2026 RESULTS in CHFm Jun 2026 Dec 2025 Jun 2025 Cash and cash equivalents 382.8 419.1 655.1 Trade receivables 4,300.2 3,434.4 2,846.3 Income tax receivables 30.3 30.1 22.9 Other receivables 193.5 125.4 135.8 Derivative financial instruments 5.2 1.9 14.7 Prepayments and contract assets 286.2 201.6 155.2 Financial assets - - 71.5 Current assets 5,198.1 4,212.5 3,901.4 Tangible assets 36.7 37.0 30.1 Intangible assets 465.7 478.3 174.6 Goodwill 1,425.8 1,425.6 476.1 Right-of-use assets 65.4 66.8 36.7 Investments in associated companies 3.6 3.6 - Other receivables 513.7 536.6 319.6 Derivative financial instruments 1.8 0.5 0.3 Deferred tax assets 44.7 48.6 20.8 Defined benefit asset - 3.5 1.6 Non-current assets 2,557.4 2,600.4 1,059.8 Total assets 7,755.5 6,812.9 4,961.2 in CHFm Jun 2026 Dec 2025 Jun 2025 Trade payables 4,493.6 3,732.8 2,875.0 Other payables 509.8 356.2 295.5 Accrued expenses and contract liabilities 285.7 250.3 183.3 Derivative financial instruments 7.2 4.2 22.6 Income tax liabilities 24.7 15.1 13.1 Provisions 28.6 27.5 18.0 Financial liabilities 310.8 284.6 703.5 Current liabilities 5,660.3 4,670.7 4,111.0 Other payables 434.4 450.4 277.4 Derivative financial instruments 1.0 1.7 2.5 Provisions 22.3 30.9 4.7 Financial liabilities 555.0 582.8 30.3 Deferred tax liabilities 77.1 83.1 18.7 Defined benefit liabilities 12.7 11.9 8.1 Non-current liabilities 1,102.5 1,160.8 341.7 Total liabilities 6,762.8 5,831.5 4,452.7 Total equity 992.7 981.4 508.4 Total liabilities and equity 7,755.5 6,812.9 4,961.2 Figures may not sum due to rounding. The Group has now finalized the purchase accounting of the Crayon acquisition. Provisional amounts recognized during the acquisition date have been adjusted. The changes resulted in a corresponding goodwill adjustment of CHF 22.5 million on 2 July 2025 i.e., December 2025. Crayon consolidated from 1 July 2025
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32 Cash flow statement H1 2026 RESULTS in CHFm Jun 2026 Jun 2025 Profit for the period 54.3 9.9 Depreciation, amortization and impairment 64.5 40.2 Total finance result, net 26.8 11.7 Share of result of joint ventures and associated companies 0.2 - Income tax expenses 39.6 23.2 Other non-cash items 2.9 (47.4) Change in trade receivables (877.3) (228.5) Change in other receivables, prepayments and contract assets (127.2) (56.3) Change in trade and other payables 898.0 371.0 Change in accrued expenses and contract liabilities 34.5 (4.5) Changes in provisions (7.4) (15.7) Income taxes paid (18.6) (16.7) Net cash generated from operating activities 90.1 87.1 in CHFm Jun 2026 Jun 2025 Purchases of tangible and intangible assets (36.5) (30.1) Settlement of and proceeds from swap contracts - (35.0) Interest received 3.5 1.9 Acquisition of business (net of cash acquired) (1.2) (1.4) Net cash used in investing activities (34.2) (64.7) Proceeds from financial liabilities 8,403.9 6,278.3 Repayments of financial liabilities (8,437.9) (5,850.5) Proceeds from sale of treasury shares - 0.7 Interest paid (29.1) (13.7) Dividends paid to owners of the parent (32.4) (45.6) Acquisition of non-controlling interest (6.9) - Net cash used in financing activities (102.4) 369.3 Net (decrease)/increase in cash and cash equivalents (46.5) 391.7 Cash and cash equivalents at beginning of period 419.1 271.3 Net foreign exchange difference on cash and cash equivalents 10.1 (7.9) Cash and cash equivalents at end of period 382.8 655.1 Figures may not sum due to rounding. Crayon consolidated from 1 July 2025
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33 Net working capital reconciliation H1 2026 RESULTS in CHFm Jun 2026 Dec 2025 Jun 2025 Trade receivables 4,300.2 3,434.4 2,846.3 Other receivables 193.5 125.4 135.8 Prepayments and contract assets 286.2 201.6 155.2 Trade payables 4,493.6 3,732.8 2,875.0 Other payables 509.8 356.2 295.5 Accrued expenses and contract liabilities 285.7 250.3 183.3 Net working capital after factoring (509.2) (578.0) (216.6) Receivables sold under short-term factoring 397.6 406.4 400.1 Net working capital before factoring (111.7) (171.6) 183.5 Crayon consolidated from 1 July 2025 Figures may not sum due to rounding. Factoring includes short-term factoring only, with financing terms of less then one year. December 2025 NWC includes minus CHF 13.6m from finalization of Crayon acquisition accounting in 2026. June 2025 NWC before factoring of SoftwareOne standalone revised from CHF 271.9m to CHF 183.5m, including the revision of the short-term factoring amount.
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34 Net debt reconciliation H1 2026 RESULTS in CHFm Jun 2026 Dec 2025 Jun 2025 Cash and cash equivalents 382.8 419.1 655.1 Current financial assets - - 71.5 Total financial assets 382.8 419.1 726.6 Bank overdrafts 0.2 - - Other current financial liabilities 287.1 260.4 687.5 Other non-current financial liabilities 503.5 527.9 2.8 Total financial liabilities 790.8 788.4 690.4 Net debt/(cash) 408.0 369.3 (36.2) Crayon consolidated from 1 July 2025 Figures may not sum due to rounding.