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Amadeus Fire GROUP Financial key figures FY 2024 , FY 2025 , HI 2026 & adjusted Outlook FY 2026e Investors Fact Book 4th August 2026
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Focused specialist provider in Germany Personnel Services Training ▪ Specialist for white collar professionals focusing on the commercial and IT sectors. ▪ Temporary staffing, permanent placement, interim and project management services. ▪ Close to 40 years of experience at 22 locations. ▪ Training and retraining in the fields of commercial and IT qualifications. ▪ Publicly funded training (B2G), for corporate customers (B2B) and for private individuals (B2C). ▪ Up to 70 years of expertise at over 100 locations. Amadeus Fire Group | Group presentation l 2
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Group Development of the real Gross Domestic Product (GDP) 3 ▪ 2026 remains a year of major challenges with a tiny sense of optimism only. ▪ Longest economic stagnation in Germany resulted in a decline of real GDP of – 0.5% in Germany in FY 2024, a small economic growth of 0.2% in FY 2025 as well as 0.2% in Q2 2026. ▪ The pessimistic view in Q2/2026 has increasingly led to a reluctance to invest, delayed decisions and slowed down day-to-day business. ▪ Increasing unemployment rate of again 6.4% in July 2026 respectively more than 3.0 million people in Germany in parallel to the decrease in demand. ▪ Increase in inflation rate to 2.8 percent in July 2026 with an expected inflation rate up to 2.8 percent currently for FY 2026, too. Amadeus Fire Group | Group presentation l 3 +0,2% ▪ The expectations component of the ifo Business Climate Index dropped significantly from 90.3 points in Feb 2026 to 83.5 points in April 2026 reflecting the pronounced deterioration in sentiment in the German economy.
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Amadeus Fire Group | Group presentation Group 115 111 116 130 137 142 161 170 173 185 206 233 213 272 407 442 437 364 67 100 18 16 18 22 23 23 27 29 30 32 38 39 31 53 68 70 56 14 15.8% 14.5% 16.2% 17.1% 16.6% 16.4% 16.6% 16.9% 17.3% 17.5% 18.2% 16.6% 14.7% 17.8% 16.7% 15.9% 12.7% 3.8% 13 Stable operating growth in the long term 4 • Organic growth as a basis. • Staffing and training businesses stabilising each other. • Continuous successful organisation structure. • There is an adequate market potential for further development in the mid & long term. • Negative sentiment currently dominates order and closing unwillingness across all industries in staffing. • Following the Corona pandemic, a crisis-related organic decrease in revenue and earnings in 2025 for the third time since 2009. Steady, stable and positive development of revenue 372 280 41 66 * Result from operating activities before goodwill amortisation and amortisation of intangible assets from purchase price allocation 2020 and 2021 Comcave & GFN are additionally recognised Double digit operating EBITA* margins in the long term (in € million) 10 4
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Amadeus Fire Group | Group presentation Group 12.6 12.0 13.2 17.2 15.7 18.1 20.9 21.1 19.5 25.5 26.4 36.9 43.8 78.5 85.0 83.7 54.1 28.7 11.2 11.4 12.3 16.4 14.9 17.5 19.5 18.9 17.7 23.3 23.0 32.0 37.0 71.0 78.1 75.0 46.4 17.2 Cash Flow from operating activities 5 Free Cash Flow (in € million) (in € million) • Steady, stable and positive development • Organic growth as a basis. • Steep increase in operating cash flow resulting from rebound in the Personnel Services segment post CoVid-19 as well as the larger acquisitions of Comcave College (2019) and GFN (2020). • € 13 million increase of income taxes paid in 2024. • Stable free cashflows in the long term • Additional cash generation in Training segment. • Strength of free cash flow dependent on opex and capex in IT and digitalisation as well as personalised learning content. • Peak IT opex and capex in 2024 and 2025. 5 Steep increase in cash flow due to rebound in PDL post CoVid-19 and acquisitions in training segment
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Group Highlights at a glance of Q2/2026 6 ▪ Plans for Personnel Services were not achieved especially not in permanent placement despite the targets being met in the services of temporary staffing and interim and project management as planned. ▪ The Training segment also achieved its revenue and earnings targets in the second quarter, but the individual business areas showed mixed performances. ▪ Compared with the Q1/2026 the consolidated earnings key figures and earnings margins declined significantly in Q2/2026 and resulted in an adjustment of the outlook for the Financial Year 2026: Expected revenue for FY 2026 in the range of € 350-365 million (previously € 362-394 million) Expected operating EBITA for FY 2026 in the range of € 17-23 million (previously € 20-31 million) ▪ Consolidated revenue of € 82.3 million in Q2/2026 is down 6.8 percent on Q2/2025 of € 88.4 million. ▪ Operating gross profit margin* of 48.7 percent is clearly below the previous year’s figure of 51.2 percent. ▪ Operating EBITA* margin is down to 0.6 percent in Q2/2026 (previous Q2/2025: 2.4 percent). ▪ Earnings per share (EPS) are down at € -0.53 in Q2/2026 (previous Q2/2025 at € -0.06). The macroeconomic conditions in Germany remained tense and characterised by an increasing degree of uncertainty in the second quarter of 2026 6
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Group 45.2 40.1 51.2% 48.7% Q2 2025 Q2 2026 88.4 82.3 Q2 2025 Q2 2026 Business development – Q2 2026 7 - 6.8% Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 2.1 0.5 2.4% 0.6% Q2 2025 Q2 2026 (in € million) - 77.6% - 11.3% ▪ The market environment for Personnel Services remained challenging in the first half of 2026 and was further weighed down by the uncertainty resulting from the war in Iran. ▪ Demand for labour remained weak overall. Declines in employment were particularly evident in cyclically sensitive sectors, whilst growth in public-sector-related areas was unable to offset this trend. ▪ According to the ifo Institute, Germany remains a long way from a sustained recovery in employment. ▪ Digitalisation, AI, changing skills requirements and the demographic decline in the labour supply are driving a sustained increase in the need for training. Amadeus Fire Group | Group presentation l 7
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Amadeus Fire Group | Group presentation Group 96.3 85.9 51.6% 50.0% H1 2025 H1 2026 0.7 -3.6 H1 2025 H1 2026 186.6 171.7 H1 2025 H1 2026 Business development – First half 2026 8 -8.0% n.a. ▪ The Personnel Services segment remained affected by weak hiring activity and cautious customer behaviour, resulting in lower revenues and earnings in the first half of 2026. The Training segment continued to perform resiliently and partly compensated for the decline in Personnel Services through revenue growth and improved profitability. ▪ Group revenue declined by 8.0% to € 171.7 million and operating gross profit by 10.8% to € 85.9 million. ▪ Operating EBITA decreased to € 3.5 million as lower business volume, especially in Personnel Services, could only partly be offset by cost measures and positive contributions from Training. ▪ Net result turned negative at € -3.6m, reflecting the significantly lower operating earnings and higher financing costs. 6.4 3.5 3.4% 2.0% H1 2025 H1 2026 -45.8% -10.8% (in € million) Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Net result for the period 8
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Group Development of revenue 2019 – 2025 Revenue per segment and service Amadeus Fire Group | Group presentation l 9 207 191 244 283 289 269 208 26 23 129 124 154 169 156 2019 2020 2021 2022 2023 2024 2025 Personnel Services segment Training segment 90 26 67 Acquisitions within the Training segment 47% 9% 12% 32% 53% 4% 24% 19% Revenue and gross profit Q2 2026 Personnel Services segment Training Segment Revenue Gross profit Interim- and Project Management Permanent Placement Temporary Staffing
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Group 43% 9% 14% 34% 48% 4% 28% 20% Interim- and Project management Permanent placement Revenue and gross profit FY 2025 Temporary staffing Personnel Services segment Training Segment Development of revenue 2019 – 2025 Revenue per segment and service Revenue Gross profit Amadeus Fire Group | Group presentation l 10 207 191 244 283 289 269 208 26 23 129 124 154 169 156 2019 2020 2021 2022 2023 2024 2025 Personnel Services segment Training segment 90 26 67 Acquisitions within the Training segment
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0% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 2025 2024 Industry distribution of client companies in Personnel Services - very well diversified business mix Low dependence on industries or single corporate customers 11 • Nearly no industry larger than 10% of revenue in 2025 • Largest customer at around 0.8% of revenue in 2025 • Top 10 customers in 2025 represent a revenue share of less than 10%
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Amadeus Fire Group | Group presentation Group Highlights at a glance of FY 2024 ▪ First time Amadeus Fire Group experienced stagnation in the previously dominant Personnel Services segment in revenue and declining earnings. ▪ Once again Amadeus Fire Group achieved operating gross profit* margins above the market average along with an operating EBITA* margin of nearly 13 percent (12.7 % exactly). ▪ Earnings per share (EPS) are still on a high level at € 6.01 (previous year: all-time high at € 7.12). ▪ Dividend pay out of € 4.03 per share, according to the dividend policy to distribute 2/3 (~ 67%) of the consolidated net profit to shareholders. ▪ Equity ratio increased to nearly 47 percent (46.9 % exactly / previous year: 44.2 %). ▪ Monika Wiederhold takes the role of COO for the Training segment since 1 November 2024 to drive the digital transformation significantly. ▪ Early extension of the management contract of the CEO, Robert von Wülfing, on 26 March 2025, by a further five years, the new contract runs from 1 January 2026 to 31 December 2030. ▪ Despite good positioning of the Group, 2025 will be another challenging year with expected decreasing earnings. Amadeus Fire Group remains committed to a profitable growth trajectory, prioritising investments in the expansion of the operational business 12
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Amadeus Fire Group | Group presentation Group 60.0 52.2 54.1% 52.6% Q4 2023 Q4 2024 110.9 99.2 Q4 2023 Q4 2024 Business development – Q4 2024 13 -10.6% • The economic development in Germany was much less favorable than forecasted for the fourth quarter 2024. • The growing pessimism in the German economy over recent months has had a noticeable impact on the staffing business and on the Amadeus Fire Group’s results in the fourth quarter 2024. • Companies are noticeably reluctant to recruit for new or vacant positions and the willingness of candidates to change jobs remains inhibited. November and December were the months with the weakest performance over the year. Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 15.9 9.1 14.3% 9.2% Q4 2023 Q4 2024 (in € million) -42.8% -13.0 % 13
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Amadeus Fire Group | Group presentation Group 70.4 55.5 15.9% 12.7% FY 2023 FY 2024 Group revenue 243.4 236.7 55.0% 54.2% FY 2023 FY 2024 442.4 436.9 FY 2023 FY 2024 Business development – FY 2024 14 -1.2% • The Amadeus Fire Group remains on its course of profitable business with double digit operating margins. Resulting in a differentiated development of the Group’s key figures for the FY 2024. • Targets not fully met in the Training segment, following a weakening development in second half year. • Uncertainty among customers and candidates lead to expectations not being reached in the Personnel Services segment. 2024 was marked by a continuous decline in demand and weakening conversion of enquiries into successful placements. • Operating EBITA* is mainly affected by the pressure on staffing gross profit as well as forward -looking expenses and investments into the Groups digital transformation and future learning platforms. -2.8% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin -21.2% 41.3 32.8 FY 2023 FY2024 Net result for the period -20.4% 9.3% 7.5% 14
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Amadeus Fire Group | Group presentation Group Highlights at a glance of Q1/2025 15 ▪ 2024 showed a declining development with lowest business level in November and December. Comparable weak start in January and February 2025 followed by some slide improvements in March. ▪ Management Board confirms outlook for the Financial Year (FY) 2025 with an expected revenue in a range of € 387 to € 417 million and an operating EBITA* of € 36 to € 44 million. Based on the mid-range expectations, mentioned above, the operating EBITA* margin should be around ten percent. ▪ Amadeus Fire Group (AFG) experienced again a decrease in the previously dominant Personnel Services segment in revenue and declining earnings. Difficult business environment in B2G and B2B training in Q1/2025. ▪ Operating EBITA* margin deteriorated to 4.4 % in first quarter 2025 (previous Q1/2024: 12.6 %). ▪ Earnings per share (EPS) are down at € 0.18 in first quarter 2025 (previous Q1/2024 at € 1.67). Amadeus Fire Group remains committed to a profitable growth trajectory, prioritising investments in the expansion of the operational business 15
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Amadeus Fire Group | Group presentation Group 62.7 51.1 54.6% 52.0% Q1 2024 Q1 2025 114.8 98.2 Q1 2024 Q1 2025 Business development – First quarter 2025 16 - 14.5 % • The growing pessimism in the German economy over recent months has had a noticeable impact on the business and on the Amadeus Fire Group’s results in the first quarter 2025. • Companies are noticeably reluctant to recruit for new or vacant positions and the willingness of candidates to change jobs remains inhibited. • Operating EBITA* is mainly affected by the pressure on staffing and B2G training gross profit as well as forward-looking expenses and investments into the Groups digital transformation and future learning platforms. Cost saving measurements are in place and will have an increasing impact over the turn of the year. Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 14.4 4.3 12.6% 4.4% Q1 2024 Q1 2025 (in € million) - 70.2 % - 18.6 % 16
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Amadeus Fire Group | Group presentation Group Highlights at a glance of H1/2025 17 ▪ Amadeus Fire Group (AFG) experienced again a decrease in the Personnel Services segment in revenue and declining earnings. We found ourselves on an even lower level compared to Q1, positive momentum in March did not continue. ▪ Difficult business environment in B2G and B2B Training burdened the previously growing Training segment in Q2/2025 and resulted in decreasing revenue and declining earnings, too. ▪ Operating EBITA* margin deteriorated further to 3.4 % in first half 2025 (previous H1/2024: 12.8 %). ▪ Earnings per share (EPS) are further down at € 0.12 in first half 2025 (previous H1/2024 at € 3.06). ▪ Management Board adjusts outlook for the Financial Year (FY) 2025 with an expected revenue in an adjusted range of € 355 to € 385 million and an adjusted operating EBITA* of € 15 to € 25 million. Based on the mid-range expectations the operating EBITA* margin should be around five percent. ▪ Dividend pay out of € 4.03 per share for FY 2024 resulted in total in a dividend payment of € -21.9 million to shareholders end of May, according to the dividend policy to distribute 2/3 (~ 67%) of the consolidated net profit to shareholders. Amadeus Fire Group remains committed to a long-term profitable growth trajectory, prioritising investments in the expansion of the operational business 17
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Amadeus Fire Group | Group presentation Group Business development – Second quarter 2025 18 -20.6% Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin (in € million) -85.3% -24.9% • The overall economic situation in Germany remains tight – there was no recovery in Q2 from the already weak Q1/2025. • On the contrary, the business results remain significantly below the previous year's level, but also below the level of the first quarter, highlighting the ongoing period of weakness. • In staffing the ongoing decline in companies' willingness to hire, lengthy decision-making processes and the increasing reluctance of potential candidates to change jobs significantly impede business activities. • In B2G Training, the uncertainty surrounding the federal budget, combined with visibility and changes in regulatory procedures, are increasingly weighing on business performance in 2025. 18 111.2 88.4 Q1 2024 Q1 2025 60.3 45.2 54.2% 51.2% Q1 2024 Q1 2025 14.5 2.1 13.0% 2.4% Q1 2024 Q1 2025
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Amadeus Fire Group | Group presentation Group 123.0 96.3 54.4% 51.6% H1 2024 H1 2025 16.8 0.7 H1 2024 H1 2025 226.1 186.6 H1 2024 H1 2025 Business development – First half 2025 19 -17.5% -95.8% • Top and bottom line results are mainly affected by the pressure on staffing and B2G Training gross profit as well as forward-looking expenses and investments into the Group’s digital transformation and future learning platforms. • Cost saving measurements are in place and do have and will have an increasing impact over the turn of the year. Depending on near-term operational developments additional measures will be executed. • In the second half of the year, we expect an improvement in our operating performance compared with the first half, driven by seasonal factors, cost measures and signs of stabilisation in the publicly funded Training business (B2G). 28.9 6.4 12.8% 3.4% H1 2024 H1 2025 -77.7% -21.7% (in € million) Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Net result for the period 19
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Group Highlights at a glance after 9M/2025 Amadeus Fire Group | Group presentation l ▪ Amadeus Fire Group experienced again a decrease in the Personnel Services segment in revenue and declining earnings. We still found ourselves on a comparable low level as in H1, as expected a positive momentum did not kick in in Q3. ▪ In the Training segment, there are currently signs of stabilisation in the B2G market and positive B2C business. ▪ Revenues are down 18%. Continuation of consistently implementing measures to increase efficiency and cost discipline. ▪ For Comcave, a restructuring program was announced in August. Restructuring expenses of €5.3 million had a significant one-time impact on operating profit in the third quarter. ▪ Including that effect operating EBITA* is €9.7 million after nine months 2025 (previous 9M/2024: €46.4 million). ▪ Management Board confirms outlook for the Financial Year (FY) 2025 with an expected revenue in the range of € 355 to € 385 million and an operating EBITA* at the lower end of the range of € 15 to € 25 million. ▪ In September Amadeus Fire Group acquired Masterplan, an e-learning platform on a Software-as-a-Service model (SaaS) – a buy-and-build case and strategic investment in the digital B2B training market. ▪ In November Amadeus Fire Group acquired 70 percent of eduBITES, an innovative tech company, that operationalises corporate knowledge with an AI-based SaaS platform and agent systems. Amadeus Fire Group remains committed to a long-term profitable growth trajectory, prioritising investments in the expansion of the operational business 20
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Group 61.5 46.7 55.1% 51.5% Q3 2024 Q3 2025 111.6 90.7 Q3 2024 Q3 2025 Business development – Third quarter 2025 21 -18.8% Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 17.6 3.3 15.7% 3.6% Q3 2024 Q3 2025 (in € million) - 81.3% - 24.1% ▪ Germanys ongoing economic recession continued to have a noticeable impact on the Amadeus Fire Group’s business performance in the third quarter of 2025. ▪ Companies in Germany are operating with fewer staff, relevant number of positions are left vacant . Individual companies have already announced layoffs. ▪ The actual number of participants in publicly funded training programs (B2G) remain below the previous year's level. Nevertheless, market environment is improving. ▪ Professional training for private individuals (B2C) is largely independent of economic cycles . Here, the increased digitalisation of education is providing better access to flexible formats and implementation opportunities. 8.6 adj. Amadeus Fire Group | Group presentation l 21
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Group Group revenue - 17.9% 184.5 143.0 54.6% 51.6% 9M 2024 9M 2025 26.4 - 0.4 9M 2024 9M 2025 337.7 277.3 9M 2024 9M 2025 Business development – First nine months 2025 22 ▪ 2025 remains a year of major challenges. The weak economy and uncertainty on the part of both companies and candidates are weighing on the Group’s business, particularly in the Personnel Services segment. ▪ Demographic change continues to play a major role , gradually withdrawing more workers from the labor market. Despite the current weak economic situation, there is still a shortage of skilled workers in many occupational groups, which is supporting demand. ▪ The Group has continued to consistently implement measures to increase efficiency and cost discipline . ▪ Masterplan revenue and results included as of Q4/2025. 46.4 9.7 13.8% 3.5% 9M 2024 9M 2025 - 79.1% - 22.5% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Net result for the period 7.8% n.a. 15.0 adj. Amadeus Fire Group | Group presentation l 22
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Group Full year 2025 at a glance Amadeus Fire Group | Group presentation l ▪ Amadeus Fire Group experienced a decrease in the Personnel Services & the Training segment in revenue and earnings. We still found ourselves on a comparable low level as in H1, as expected a positive momentum did not kick in H2 / 2025. ▪ Revenue is down 16.8% to € 363.6 million for the Financial Year (FY) 2025 and within the expected range of € 355 to € 385 million. Continuation of consistently implementing measures to increase efficiency and cost discipline. ▪ For Comcave, a restructuring programme was executed. Total restructuring expenses of € 6.1 million (€ 5.3 million after nine months 2025) had a significant one-time impact on operating profit for the FY 2025. ▪ Including that effect operating EBITA* is € 13.7 million and therefore close to the lower end of the guided range of € 15 to € 25 million respectively at € 19.8 million excluding the restructuring expenses for the FY 2025 (previous year: € 55.5 million). ▪ In September Amadeus Fire Group acquired Masterplan, an e-learning platform on a Software-as-a-Service (Saas) model with recurring revenue – a buy-and-build case and strategic investment in the digital B2B training market. ▪ In November Amadeus Fire Group acquired 70 percent of eduBITES, an innovative tech company, that operationalises corporate knowledge with an Agentic AI-based SaaS platform with recurring revenue – another buy-and-build case and strategic investment in the digital B2B training market. Amadeus Fire Group remains committed to a long-term profitable growth trajectory, prioritising investments in the expansion of the operational business 23
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Group Group revenue -16.8% 236.7 186.8 54.2% 51.4% FY 2024 FY 2025 436.9 363.6 FY 2024 FY 2025 Business development FY 2025 24 ▪ 2025 remained a year of major challenges. The weak economy and uncertainty on the part of both companies and candidates are weighing on the Group’s business, particularly in the Personnel Services segment. ▪ Demographic change continues to play a major role , gradually withdrawing more workers from the labor market. Although there is still a structural shortage of skilled workers , this is increasingly being outweighed by economic risks that are paralysing the market. ▪ The actual number of participants in publicly funded training programmes (B2G) remain below the previous year's level. Nevertheless, market environment is improving slightly. ▪ Professional training for private individuals (B2C) is largely independent of economic cycles. Here, the increased digitalisation of education is providing better access to flexible formats and implementation opportunities. 55.5 13.7 12.7% 3.8% FY 2024 FY 2025 -75.4% -21.1% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 19.8 adj. Amadeus Fire Group | Group presentation l 24 [355 – 385 / Range of outlook FY 2025] [15 – 25]
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Group 52.2 43.8 52.6% 50.7% Q4 2024 Q4 2025 99.2 86.3 Q4 2024 Q4 2025 Business development – Q4 2025 25 - 13.0% Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 9.1 3.9 9.2% 4.6% Q4 2024 Q4 2025 (in € million) - 56.7% - 16.0% ▪ Germanys ongoing economic recession continued to have a noticeable impact on the Amadeus Fire Group’s business performance in the fourth quarter of 2025. ▪ Companies in Germany are operating with fewer staff, relevant number of positions are left vacant . Individual companies have already announced layoffs. ▪ The actual number of participants in publicly funded training programs (B2G) remain below the previous year's level. Nevertheless, market environment is improving slightly . ▪ Professional training for private individuals (B2C) is largely independent of economic cycles . Here, the increased digitalisation of education is providing better access to flexible formats and implementation opportunities. Amadeus Fire Group | Group presentation l 25
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Group Group revenue - 16.8% 236.7 186.8 54.2% 51.4% FY 2024 FY 2025 32.8 - 2.2 FY 2024 FY 2025 436.9 363.6 FY 2024 FY 2025 Business development FY 2025 26 55.5 13.7 12.7% 3.8% FY 2024 FY 2025 - 75.4% - 21.1% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Net result for the period 7.5% n.a. 19.8 adj. Amadeus Fire Group | Group presentation l 26 ▪ 2025 remained a year of major challenges. The weak economy and uncertainty on the part of both companies and candidates are weighing on the Group’s business, particularly in the Personnel Services segment. ▪ Demographic change continues to play a major role , gradually withdrawing more workers from the labor market. Although there is still a structural shortage of skilled workers , this is increasingly being outweighed by economic risks that are paralysing the market. ▪ The actual number of participants in publicly funded training programmes (B2G) remain below the previous year's level. ▪ The Group has continued to consistently implement measures to increase efficiency and cost discipline.
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Group Highlights at a glance of Q1/2026 27 ▪ Despite a market environment that remains challenging, the business is performing in line with the expectations. The corporate market for Personnel Services remains tight, whereas the Training business remains robust, with positive trends extending into 2026. ▪ The cost and structural optimisation measures, as well as those aimed at improving efficiency, introduced in 2025 continued to show positive effects and stabilised operational performance over the course of the first quarter. ▪ Compared with the Q4 2025, the key figures had already improved, and the Amadeus Fire Group’s consolidated revenue and gross operating profit were higher than at the end of 2025. ▪ Consolidated revenue of €89.4 million in Q1 2026 is down 9.0 percent on Q1 2025 of €98.2 million, but up 3.5 percent on Q4 2025 figure of €86.3 million. ▪ Operating gross margin* of 51.2 percent is only slightly below the previous year’s figure of 52.0 percent, but is also higher than the Q4 2025 figure of 50.7 percent. ▪ Operating EBITA* margin is down to 3.4 percent in Q1 2026 (previous Q1/2025: 4.4 percent). ▪ Earnings per share (EPS) are down at € -0.16 in Q1 2026 (previous Q1/2025 at € 0.18). Amadeus Fire Group has successfully started the financial year 2026 and confirms the outlook for FY 2026 to achieve a significant increase in earnings 27
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Group 51.1 45.8 52.0% 51.2% Q1 2025 Q1 2026 98.2 89.4 Q1 2025 Q1 2026 Business development – Q1 2026 28 - 9.0% Group revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 4.3 3.0 4.4% 3.4% Q1 2025 Q1 2026 (in € million) - 30.0% - 10.4% ▪ Germanys ongoing economic recession continued to have a noticeable impact on the Amadeus Fire Group’s business performance in the first quarter of 2026. ▪ Companies in Germany are operating with fewer staff; relevant number of positions are left vacant . Individual companies have already announced layoffs and the willingness of candidates to change jobs remains inhibited. ▪ Operating EBITA* is mainly affected by the pressure on staffing and B2G training gross profit as well as forward-looking expenses and investments into the Groups digital transformation and future learning platforms. ▪ Cost saving measurements are in place and will have an increasing impact over the turn of the year. Amadeus Fire Group | Group presentation l 28
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29 Personnel Services segment Amadeus Fire Group | Group presentation l 29
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Amadeus Fire Group | Group presentation Personnel Services segment • The downturn and decrease in the demand has reached the commercial and IT professions. Conversion requests in placements at lower level. The slightly improving situation in Q2 did not hold up but market conditions even worsened in Q4. • The willingness of candidates to change jobs is restrained. • Decline in revenue within acceptable range in view of external circumstances as Amadeus Fire still gains market share. • Further decline of operating EBITA* vs. H1 2024 despite strict cost measurement and a gradually reduced headcount within the branch office organisation. Business development – Q4 2024 30 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 10.8 5.8 15.2% 11.5% Q4 2023 Q4 2024 35.1 28.4 49.4% 47.4% Q4 2023 Q4 2024 -19.1% -46.3%71.0 59.9 Q4 2023 Q4 2024 -15.7% (in € million) 30
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Amadeus Fire Group | Group presentation Personnel Services segment Business development – FY 2024 31 49.5 34.9 17.1% 13.0% FY 2023 FY 2024 147.7 132.7 51.1% 49.4% FY 2023 FY 2024 -10.2% -29.5% 289.2 268.8 FY 2023 FY 2024 -4.8% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin • Improved market position; cross reads indicate higher decline in gross profit of competitors. • The sales organisation, which has been significantly expanded until mid-2023, has structurally be retained in 2024 with a focus on higher productivity in order to make the best possible use of opportunities in the expected market recovery. • Personnel costs below PY level by the end of the year, higher level of IT -expenditure continues to assure future growth. • Operating EBITA-margin under pressure but still on a comparably high level. 31
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Amadeus Fire Group | Group presentation Personnel Services segment • The downturn and decrease in the demand has reached the commercial and IT professions. The willingness of candidates to change jobs is restrained. Conversion requests in placements are at lower level. The bad sentiment of Q4/2024 still remain s in Q1/2025. • Higher level of IT-expenditure continues to assure future growth, and personnel costs are below PY level in Q1. At quarter-end fee earners were down 13 %, nevertheless structurally the branch office organisation remains unchanged. • Further decline of operating EBITA* vs. Q1/2024 despite strict cost measurement and a reduced headcount within the branch office organisation. Business development – Q1/2025 32 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 7.9 2.7 11.0% 4.7% Q1 2024 Q1 2025 35.1 27.1 48.9% 46.8% Q1 2024 Q1 2025 - 23.0 % - 65.4 % 71.8 57.9 Q1 2024 Q1 2025 - 19.4 % (in € million) 32
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Amadeus Fire Group | Group presentation Personnel Services segment • As anticipated in the first quarter, no recovery was recorded in the Personnel Services segment in the second quarter. Results remain significantly below the previous year's level and even lower than in the first quarter of this year. • The overall economic situation remains tight, and uncertainty among companies and candidates has further increased. The economic weakness and uncertainty among corporate customers are increasingly having an impact in all areas of the segment. • Although there is still a structural shortage of skilled workers, this is increasingly being outweighed by economic risks that are paralysing the market. Business development – Q2/2025 33 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin -28.1% -65.5% -24.1% (in € million) 33
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Amadeus Fire Group | Group presentation Personnel Services segment Business development – H1 2025 34 -25.5% -65.5% 140.1 109.7 H1 2024 H1 2025 -21.7% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin • The conversion of customer enquiries into concrete orders remains at a low level. Corporate caution and growing risk aversion on the part of candidates are leading to an increasing number of process interruptions and delays, making it considerably more difficult to conclude business deals. Net fee decline of 25%. • Compared with the previous year, the number of sales staff has fallen further throughout the year – a clear sign of the tense situation. Structurally the staffing branch office organisation remains in place. • Although strict cost management and reduced personnel expenses cushioned certain burdens, some of these savings were offset by IT expenses, which remained curtailed but were higher than in the previous year. 34
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Personnel Services ▪ The decline in revenue in the Personnel Services segment persisted through the end of the third quarter of 2025. As expected by the Company, there was no recovery from the already weak first half of the year . ▪ The overall economic situation remains tight, and uncertainty among companies and candidates has further increased . The economic weakness and uncertainty among corporate customers are increasingly having an impact in all areas of the segment. ▪ The ongoing recession is leading companies to act with noticeable caution. Hiring decisions are increasingly being postponed or suspended altogether. Although there is still a structural shortage of skilled workers , this is increasingly being outweighed by economic risks that are paralysing the market. 35 Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 12.5 5.5 18.1% 10.7% Q3 2024 Q3 2025 35.7 25.3 51.9% 49.3% Q3 2024 Q3 2025 - 29.1% - 56.0% 68.8 51.2 Q3 2024 Q3 2025 - 25.5% (in € million) Business development – Q3 2025 Revenue Amadeus Fire Group | Group presentation l 35
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Personnel Services Revenue Business development – 9M 2025 36 29.1 11.2 13.9% 7.0% 9M 2024 9M 2025 104.3 76.4 49.9% 47.5% 9M 2024 9M 2025 - 26.7% - 61.4% 208.9 161.0 9M 2024 9M 2025 - 22.9% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ The negative assessment of the current business climate is leading companies to act with noticeable caution. Hiring decisions are increasingly being postponed or suspended altogether. Although there is still a structural shortage of skilled workers , this is increasingly being outweighed by economic risks that are paralysing the market. As expected, there was no recovery from the already weak first half of the year. ▪ Against this backdrop, the personnel levels across the branch organisation are being continuously reviewed. New hires are currently being made only on a very selective basis. Although strict cost management and reduced personnel expenses cushioned certain burdens, some of these savings were offset by IT expenses, which remained curtailed but were higher than in the previous year. Amadeus Fire Group | Group presentation l 36
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Amadeus Fire Group | Group presentation Personnel Services segment • The downturn and decrease in the demand has reached the commercial and IT professions. Conversion requests in placements at lower level. The slightly improving situation in Q2 did not hold up but market conditions even worsened in Q4. • The willingness of candidates to change jobs is restrained. • Decline in revenue within acceptable range in view of external circumstances. • Further decline of operating EBITA* vs. H1 2024 despite strict cost measurement and a gradually reduced headcount within the branch office organisation. Business development – Q4 2025 37 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 5.8 1.4 9.6% 2.9% Q4 2024 Q4 2025 28.4 20.6 47.5% 44.3% Q4 2024 Q4 2025 - 27.4% - 76.3% 59.9 46.6 Q4 2024 Q4 2025 - 22.2% (in € million) 37
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Personnel Services segment Business development – FY 2025 38 34.9 12.6 13.0% 6.1% FY 2024 FY 2025 132.7 97.0 49.4% 46.8% FY 2024 FY 2025 - 26.9% - 63.9% 268.8 207.5 FY 2024 FY 2025 - 22.8% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin • The negative assessment of the current business climate is leading companies to act with noticeable caution. Hiring decisions are increasingly being postponed or suspended altogether. Although there is still a structural shortage of skilled workers, this is increasingly being outweighed by economic risks that are paralysing the market. As expected, there was no recovery from the already weak first half of the year. • The personnel levels across the branch organisation are being continuously reviewed. New hires are currently being made only on a very selective basis. Although strict cost management and reduced personnel expenses cushioned certain burdens, some of these savings were offset by IT expenses, which remained curtailed but were higher than in the previous year. • Operating EBITA-margin under pressure but still on a comparably high level. 38
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Personnel Services Quarterly development of services 39Amadeus Fire Group | Group presentation l 39 -1% -7% 0% -1% -6% -2% -11% -17% -21% -26% -25% -21% 13% 12% 11% 10% -6% -7% -14% -20% -25% -29% -33% -33% 5% -7% -3% 16% 28% 29% 17% 0% 0% -5% -15% -6% 65 59 65 62 63 60 66 62 63 59 66 62 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 billable days Temporary staffing Permanent placement Interim and Project Management 2023 2024 2025 ▪ Temporary staffing ▪ Permanent placement ▪ Decline in companies' willingness to recruit new staff leads to lower order volume and revenue. ▪ Increased uncertainty among clients and candidates due to economic developments. ▪ No pickup in demand. ▪ Lower conversion rate of enquiries into orders. ▪ Shortage of skilled workers remains a key factor. ▪ Interim and Project Management ▪ Consistent market leads to more stable revenue. ▪ Less dependent on economic development. (in € million) 122.837.4 51.4 32.57.8 Gross Profit Revenue Revenue development over the prior-year quarter / FY 2025
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Amadeus Fire Group | Group presentation Personnel Services segment • The market environment in the Personnel Services segment remained tight in the first quarter of 2026. The willingness of candidates to change jobs is restrained. • Companies remain cautious about personnel decisions; recruitment processes are taking longer, and hiring needs are being managed on a more ad hoc and short-term basis. • Operationally, the cost-control and efficiency-enhancement measures initiated in the previous year were consistently continued. Performance management and a continued cautious approach to filling vacancies resulted in a correspondingly lower cost base, which supports earnings growth over the course of the year. Business development – Q1 2026 40 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 2.7 1.7 4.7% 3.6% Q1 2025 Q1 2026 27.1 21.9 46.8% 46.0% Q1 2025 Q1 2026 - 18.9% - 37.7% 57.9 47.7 Q1 2025 Q1 2026 - 17.6% (in € million) 40
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Amadeus Fire Group | Group presentation Personnel Services segment • The conversion of customer enquiries into concrete orders remains at a low level. Corporate caution and growing risk aversion on the part of candidates are leading to an increasing number of process interruptions and delays, making it considerably more difficult to conclude business deals. Net fee decline of 23%. • Amadeus Fire Group’s client base, which consists predominantly of small and medium-sized enterprises was particularly reluctant. The segment primarily targets qualified commercial and IT professionals and is therefore heavily dependent on specific recruitment, budgetary and capacity decisions made by client companies. • The ongoing cost and capacity management measures had a stabilising effect but were only able to partially offset the negative impact of the lower business volume and the decline in operating profit. Business development – Q2 2026 41 Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 3.0 -0.5 5.2% Q2 2025 Q2 2026 24.1 18.5 46.4% 43.4% Q2 2025 Q2 2026 - 23.1% n.a. 51.9 42.7 Q2 2025 Q2 2026 - 17.7% (in € million) 41 >- 100%
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Personnel Services Quarterly development of services 42 Revenue development over the prior-year quarter / Q2 2026 Amadeus Fire Group | Group presentation l 42 ▪ Temporary staffing ▪ Permanent placement ▪ Decline in companies' willingness to recruit new staff leads to lower order volume and revenue. ▪ Increased uncertainty among clients and candidates due to economic developments. ▪ No pickup in demand. ▪ Lower conversion rate of enquiries into orders. ▪ Shortage of skilled workers remains a key factor. ▪ Interim and Project Management ▪ Consistent market leads to more stable revenue. ▪ Less dependent on economic development. (in € million) 25.87.4 9.3 7.41.7 Gross Profit Revenue 20242023 2025 2026 -1% -7% 0% -1% -6% -2% -11% -17% -21% -26% -25% -21% -17% -14% 13% 12% 11% 10% -6% -7% -14% -20% -25% -29% -33% -33% -24% -32% 5% -7% -3% 16% 28% 29% 17% 0% 0% -5% -15% -6% -9% -8% 65 59 65 62 63 60 66 62 63 59 66 62 63 59 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 billable days Temporary staffing Permanent placement
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Amadeus Fire Group | Group presentation Personnel Services segment 5.7 1.2 5.2% 1.4% H1 2025 H1 2026 51.1 40.5 46.6% 44.8% H1 2025 H1 2026 Business development – First half 2026 43 - 20.9% - 78.6% 109.7 90.4 H1 2025 H1 2026 - 17.6% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin • The weak market momentum had a particular impact on temporary staffing and permanent placement, where client companies’ cautious management of capacity led to lower demand for staff on client assignments. • In the period following the outbreak of the conflict in the Middle East, staffing decisions were given even higher priority, postponed or implemented only where there was an immediate need. Consequently, demand was further curbed, particularly in permanent placement. • Poor placement results and the impact of fewer billable days available in the second quarter due to seasonal factors have led to a low operating profit, which is significantly below the previous year’s level. Operating EBITA margin is still under pressure. 43
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44 Training segment Amadeus Fire Group | Group presentation l 44
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Amadeus Fire Group | Group presentation Training segment 40.0 39.4 Q4 2023 Q4 2024 Business development – fourth quarter 2024 45 -1.5% 5.1 3.3 12.8% 8.4% Q4 2023 Q4 2024 25.1 23.9 62.8% 60.7% Q4 2023 Q4 2024 • B2G market: new terms and conditions restrict the offering on public training search engine and inhibit this channel. Slowed down market following pending public budget 2025 and breakdown of German government. • Continuously positive development of B2C business, due to annual training calendar slight decline in Q4. • Increasing expenses on lecturer fees, strengthening the training organisation and various IT initiatives like an AI-based content factory burdened the operating EBITA* to a certain extent. -4.8% -35.3% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Training 45
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Amadeus Fire Group | Group presentation Training segment 153.7 168.5 FY 2023 FY 2024 Business development – FY 2024 46 +9.6% 20.9 20.6 13.6% 12.2% FY 2023 FY 2024 96.3 104.3 62.6% 61.9% FY 2023 FY 2024 • Strong development of publicly funded training in 2024 due to positive market demand and expansion of market position despite the before mentioned change in terms and condition. • Revenue increases in all three subsidiaries: • Tax College Dr. Endriss +2.7% from € 34.3 million to € 35.3 million • Comcave College +3.7% from € 76.2 million to € 79.0 million • GFN with an excellent +25.7% from € 43.2 million to € 54.3 million • Operating EBITA* slightly down by -1.1% due to utilisation of training organisations following declining number of participants and high investments in technology and digital learning platforms. +8.3% -1.1% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 46 Training 46
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Amadeus Fire Group | Group presentation Training segment 43.2 40.4 Q1 2024 Q1 2025 Business development – Q1/2025 47 - 6.5 % 6.5 1.6 15.1% 3.9% Q1 2024 Q1 2025 27.7 24.1 64.1% 59.6% Q1 2024 Q1 2025 • B2G market: new terms and conditions restrict the offering on public training search engine and inhibit this channel especial ly for the Comcave College. Slowed down market following first pending public budget 2025 and second break down of government and new elections – now solved. Thirdly switch of responsibility for funding at the turn of the year (job center to employment agenc y). • B2B revenue under pressure driven by poor market environment, B2C revenue is increasing. • Mixed revenue development in first quarter 2025 at the three subsidiaries: • Tax College Dr. Endriss +6.0 % from € 7.1 million to € 7.5 million • GFN well positioned with +9.5 % from € 13.4 million to € 14.7 million • Comcave College suffered heavily from restricted public training search engine by –19.8 % from € 22.7 million to € 18.2 million - 13.1 % - 75.9 % (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin Training 47
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Amadeus Fire Group | Group presentation Training segment Business development – Q2/2025 48 > -100.0% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin • Struggling B2G market: First due to processes following transition of responsibilities from job centers to employment agencies, second due to insecurity following the absence of a federal budget and thirdly limited visibility of large providers followin g an introduced cap on course listings. • Comcave and GFN experienced a more than expected decline in participants due to market conditions. Additional cost measurements did not offset these effects. • Mixed revenue development in second quarter 2025 at the three subsidiaries: • Tax College Dr. Endriss +4.3 % to € 8.4 million • GFN suffered from lower number of participants with -7.2 % to € 12.5 million • Comcave College suffering additionally from reduced visibility –27.2 % to € 15.6 million -0.9 Training 43.0 36.5 Q1 2024 Q1 2025 - 15.0 % 26.8 21.2 62.4% 57.9% Q1 2024 Q1 2025 48
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Amadeus Fire Group | Group presentation Training segment Business development – H1 2025 49 -10.7% • Mixed revenue development in H1/2025 at the three subsidiaries: • Tax College Dr. Endriss +5.0% from € 15.1 million to € 15.9 million • GFN flat with +1.1% from € 26.9 million to € 27.2 million • Comcave College heavily burdened by -23.4% from € 44.1 million to € 33.8 million • Operating EBITA* massively down by -94.4% due to heavily reduced number of participants and ongoing investments in technology and digital learning platforms. Adjustment of the size of the Training organisation not covering the decline in participants. • The goal remains to drive forward the acquisition-based development of the Training segment, even in the current challenging situation. • In Q2 an option was exercised to become 100 % owner of the GFN GmbH (before 25 % minority shareholding). -17.1% -94.4% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 49 Training 86.2 76.9 54.5 45.2 49
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Training 43.0 39.5 Q3 2024 Q3 2025 Business development – Q3 2025 50 -8.0% 5.1 11.8% Q3 2024 Q3 2025 25.9 21.5 60.3% 54.3% Q3 2024 Q3 2025 -17.0% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ As expected, revenue in the Training segment developed somewhat more steadily in the third quarter 2025 . ▪ The decline in participant numbers in publicly funded training (B2G) continued in Q3 2025 – but activities are improving. The change in responsibility for issuing education vouchers at the beginning of the year led to considerable delays in partic ipation in B2G measures. The Federal Budget for 2025 and for 2026 also, were approved. ▪ Significant decline in volume at Comcave led to structural adjustments in Q3 2025 – it includes significant staff reductions and a downsizing of training facilities. Transition to a reorganised and leaner company forms the basis for regaining economic strength. ▪ In September, the acquisition of 100% of the shares in Masterplan.com GmbH was completed , a targeted investment in the digital education market. - 2.2 n.a. 3.1 adj. Amadeus Fire Group | Group presentation l 50
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Training Revenue 129.1 116.4 9M 2024 9M 2025 Business development – 9M 2025 51 - 9.8% 17.3 -1.5 9M 2024 9M 2025 80.4 66.7 62.3% 57.3% 9M 2024 9M 2025 ▪ Mixed revenue development after nine months 2025 somewhat more steadily in the third quarter at the three subsidiaries: ▪ Tax College Dr. Endriss +9.4% from € 25.1 million to € 27.4 million ▪ GFN down -4.6% from € 41.5 million to € 39.5 million ▪ Comcave College burdened by -21.0% from € 62.6 million to € 49.5 million ▪ Operating EBITA* down and turned negative due to the restructuring expenses at Comcave College of € 5.3 million – it includes significant staff reductions and a downsizing of training facilities. Transition to a reorganised and leaner company forms the basis for regaining economic strength. ▪ Adjustment of the size of the Training organisations not covering the decline in participants. -17.1% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 51 13.4% n.a. 3.8 adj. Amadeus Fire Group | Group presentation l 51
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Training 39.4 39.9 Q4 2024 Q4 2025 Business development – Q4 2025 52 + 1.2% 3.3 2.6 8.4% 6.5% Q4 2024 Q4 2025 23.9 23.3 60.6% 58.4% Q4 2024 Q4 2025 - 2.5% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ As expected, revenue in the Training segment slightly increased in the fourth quarter 2025 . ▪ The decline in participant numbers in publicly funded training (B2G) continued in Q4 2025 – but activities are improving. The change in responsibility for issuing education vouchers at the beginning of the year led to considerable delays in partic ipation in B2G measures. The Federal Budget for 2026 was finally approved. ▪ Significant decline in volume at Comcave led to structural adjustments in Q3 2025 – it includes significant staff reductions and a downsizing of training facilities. Transition to a reorganised and leaner company forms the basis for regaining economic strength. ▪ In November, the acquisition of 70% of the shares in eduBITES GmbH was completed, another targeted investment in the digital training market. - 22.6% Amadeus Fire Group | Group presentation l 52
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Training 20.6 1.1 12.3% 0.7% FY 2024 FY 2025 Revenue 168.5 156.3 FY 2024 FY 2025 Business development – FY 2025 53 - 7.2% 104.3 90.0 61.9% 57.6% FY 2024 FY 2025 ▪ Mixed revenue development in FY 2025 with differentiated volatility in the fourth quarter at the three subsidiaries: ▪ Tax College Dr. Endriss +6.2% from € 35.3 million to € 37.5 million ▪ GFN down -5.0% from € 54.2 million to € 51.5 million ▪ Comcave College burdened by -17.3% from € 79.0 million to € 65.3 million ▪ Operating EBITA* extremely down due to the restructuring expenses at Comcave College of € 6.1 million – it includes significant staff reductions and a downsizing of training facilities. Transition to a reorganised and leaner company forms the basis for regaining economic strength. ▪ Adjustment of the size of the Training organisations not covering the decline in participants. - 13.7% (in € million) Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin 53 7.2 adj. Amadeus Fire Group | Group presentation l 53 - 94.9%
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Training 74% 19% 7%Distribution of revenue from training according to markets in FY 2025 Delimitation of training markets 54 The corporate client business is clearly characterised by economic developments or regulatory changes. Demand in 2025 was negatively characterised. The economic slowdown is reducing companies' willingness to invest in employee training. Professional training measures are a key government instrument for addressing the shortage of skilled labour. The unemployment rate is a key indicator. In Mar 2026 it increased to 6.4% versus year-end 2025 at a rate of 6.2%. This corresponds to more than 3.0 million unemployed people in Germany. The markets for long-running courses and degree programmes in tax, finance and accounting are less volatile in economic cycles, mainly thanks to the high share of private customers. The decision to participate is mainly determined by the participants’ long-term personal life and career plan. B2B – Business clients B2G B2C B2B Countercyclical market Early-cyclical market Non-cyclical market B2G - publicly funded training B2C – Private customers Amadeus Fire Group | Group presentation l 54
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Training 40.4 41.8 Q1 2025 Q1 2026 Business development – Q1 2026 55 + 3.4% 1.6 1.3 3.9% 3.1% Q1 2025 Q1 2026 24.1 23.9 59.6% 57.2% Q1 2025 Q1 2026 - 0.7% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ Training segment recorded a robust overall performance in the Q1 2026, with revenue slightly above the previous year’s level. ▪ Significant decline in volume at Comcave due to significant staff reductions and a downsizing of training facilities. Transition to a reorganised and leaner company forms the basis for regaining economic strength. ▪ Mixed revenue development in first quarter 2026 at the three subsidiaries: Tax College Dr. Endriss +2.3 % from € 7.5 million to € 7.7 million GFN well positioned again with +3.9 % from € 14.7 million to € 15.3 million Comcave College on a smaller basis –8.3 % from € 18.2 million to € 16.7 million Acquisitions consolidated for the first time added € 2.2 million - 16.8% Amadeus Fire Group | Group presentation l 55
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Training 76% 15% 9%Distribution of revenue from training according to markets in Q1 2026 Delimitation of training markets 56 The corporate client business is clearly characterised by economic developments or regulatory changes. Demand in Q1 2026 was negatively characterised. The economic slowdown is reducing companies' willingness to invest in employee training. Professional training measures are a key government instrument for addressing the shortage of skilled labour. The unemployment rate is a key indicator. In May 2026 it remains high at 6.3% versus year-end 2025 at 6.2%. This corresponds to close to 3.0 (2.95) million unemployed people in Germany. The markets for long-running courses and degree programmes in tax, finance and accounting are less volatile in economic cycles, mainly thanks to the high share of private customers. The decision to participate is mainly determined by the participants’ long-term personal life and career plan. B2B – Business clients B2G B2C B2B Countercyclical market Early-cyclical market Non-cyclical market B2G - publicly funded training B2C – Private customers Amadeus Fire Group | Group presentation l 56
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Training -0.9 0.9 2.4% Q2 2025 Q2 2026 36.5 39.7 Q2 2025 Q2 2026 Business development – Q2 2026 57 + 8.6% 21.2 21.7 57.9% 54.6% Q2 2025 Q2 2026 + 2.3% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ Training segment achieved turnaround also in earnings figures and accelerated the transition process in Q2/2026. ▪ Operating gross profit showed a slight improvement. The negative impact of the decline in revenue at Comcave was offset by positive contributions from other business areas and from the consolidation of the acquired companies. ▪ Operating EBITA improved significantly compared with the previous year. Driven in particular by the adjusted cost and organisational structure at Comcave, the positive performance at GFN and the Dr. Endriss Tax College, as well as the consolidation of the companies acquired in the previous year. However, earnings in the Training segment were also comparatively low in the second quarter due to calendar effects. n.a. Amadeus Fire Group | Group presentation l 57 >+ 100%
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Training 76.9 81.5 H1 2025 H1 2026 Business development – First half 2026 58 + 5.9% 0.7 2.3 0.9% 2.8% H1 2025 H1 2026 45.2 45.5 58.8% 55.9% H1 2025 H1 2026 + 0.7% (in € million) Revenue Operating EBITA* and oper. EBITA* margin Operating gross profit and oper. gross profit margin ▪ Training segment recorded a robust overall performance in the H1 2026, with revenue above the previous year’s level. ▪ Significant revenue increase with corporates in H1 2026 on a small scale from € 3.5 million to € 7.4 million – more than doubled. ▪ Mixed revenue development in first half 2026 at the three subsidiaries: Tax College Dr. Endriss +1.7 % from € 15.9 million to € 16.2 million GFN well positioned again with +9.4 % from € 27.2 million to € 29.8 million Comcave College on a smaller basis –6.9 % from € 33.8 million to € 31.5 million Acquisitions consolidated for the first time added € 4.1 million >+ 100% Amadeus Fire Group | Group presentation l 58
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Training 75% 16% 9%Distribution of revenue from training according to markets in H1 2026 Delimitation of training markets 59 The corporate client business is clearly characterised by economic developments or regulatory changes. Demand in Q2 2026 was again negatively characterised. The economic slowdown is reducing companies' willingness to invest in employee training. Professional training measures are a key government instrument for addressing the shortage of skilled labour. The unemployment rate is a key indicator. In July 2026 it increased again up to 6.4% versus year-end 2025 at a rate of 6.2%. This corresponds to more than 3.0 million unemployed people in Germany. The markets for long-running courses and degree programmes in tax, finance and accounting are less volatile in economic cycles, mainly thanks to the high share of private customers. The decision to participate is mainly determined by the participants’ long-term personal life and career plan. B2B – Business clients B2G B2C B2B Countercyclical market Early-cyclical market Non-cyclical market B2G - publicly funded training B2C – Private customers Amadeus Fire Group | Group presentation l 59
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Training „AI-First“ in Training Expansion of target groups Thematic expansion beyond IT and commercial training topics Inorganic growth (Mergers & Acquisitions, Ventures) Forming partnerships and embarking on a journey into a digital ecosystem Mid-term strategic orientation 60 Strategic Growth initiatives Amadeus Fire Group | Group presentation l 60
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Training Training segment offerings 61 The Training segment offers a broad range of training opportunities in the commercial and IT sectors at multiple locations in Germany. Depending on the focus, the core brands Comcave College, GFN and Steuer-Fachschule Dr. Endriss, IFRS Academy and TaxMaster offer publicly funded training (B2G), training for corporate customers (B2B) and for private individuals (B2C). The main priority for participants in a publicly funded measure (B2G) is subsequent reintegration into the labour market. The acquisitions of Masterplan & eduBITES, that operate innovative e-learning platforms on a (SaaS) Software-as-a-Service model with recurring subscription revenue are strategic investments in the technology-driven digital B2B training market. Amadeus Fire Group | Group presentation l 61 B2G B2B B2C Publicly funded Training Private customers Courses, seminars, degree programmes Corp. Customers Seminars (open and inhouse) Accounting, Tax and Financial Services Commercial Professions and Office Functions IT Services
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Training Acquisition of Masterplan.com 62 Amadeus Fire Group | Group presentation l 62
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Training ▪ Key component of the B2B growth strategy ▪ Scalable SaaS platform with a strong focus on B2B customers ▪ Offers a ready-to-use digital solution ▪ Targets the integration of new content, partners, and target groups through a flexible platform structure ▪ Value-adds synergies with the existing Amadeus Fire staffing organization esp. with sales and marketing ▪ Sells licenses typically on a subscription basis with automatic renewal ▪ Generates customer loyalty through deep system integration into existing HR systems and individual learning paths to ensure a long-term “lock-in effect” ➔ A typical buy and build case with significant cross-selling potential Rationale of the Masterplan.com acquisition 63 Masterplan is one of the leading B2B e-learning platforms for employee training in Germany Amadeus Fire Group | Group presentation l 63
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Training Acquisition of eduBITES 65 Amadeus Fire Group | Group presentation l 65
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Training ▪ Uses AI agents to conduct interviews during so-called “knowledge sprints” ▪ Transforms systematically existing internal company knowledge into multimedia learning formats ▪ Opens up individual corporate academies of company internal content for knowledge extraction and processing: ‘if only Siemens knew what Siemens knows’ ▪ Scales its SaaS platform across partner networks using the “Academy-as-a-Service” (AaaS) approach ▪ Enables these partners to develop their own topic-specific academies in a B2B2B business model ▪ Value-adds synergies with the existing Amadeus Fire staffing organisation, in particular sales ▪ Serves already Internationally active customers as well as national champions ➔ Another typical buy and build case with significant cross-selling potential to position the Group as an innovation leader to strengthen their partner network Rationale of the eduBITES acquisition eduBITES turns internal corporate knowledge into a productive asset Amadeus Fire Group | Group presentation l 66
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Corporate AI Learning
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Training Systematic AI training within the company 6969 WHO? HOW? Personalised & systemised learning platform Nuggets - continuously Experimental. Tool Usage. Try it. Role model it. Do it. Everyone All levels All functions All seniorities WHAT? Horizontal learning Basic knowledge, hybrid skills Vertical learning Specialised knowledge Continous learning Up-to-date knowledge in the context of rapid technology change Everyone All levels All functions All seniorities
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Training 70 WHAT? Mandatory AI-Courses AI-Basics Microsoft CoPilot Agentic AI… Horizontal learning (basic knowledge for everyone) Finance & Accounting Marketing Sales …. Vertical learning (in-depth specialised knowledge per function) New tools, bites format – learning as a high-frequency routine Stay up-to-date with high-frequency microlearning content Systematic content is needed for Corporate AI Learning
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Training Companies should enable systematic AI learning for all employee groups 71 Asynchron interactive Daily Bites Company specific Experimental HOW! Agentic AI (knowledge extraction, learning buddies) Platform Layer / Infrastructure Role Modeling: learning & experimenting Expert knowledge without barriers Learning platform (horizontal & vertical knowledge)
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Business model & Outlook FY 2026e
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Amadeus Fire Group | Group presentation Group Strategic direction 73 Excellence & speed Steady expansionProfessional partner for life Best marketplace for specialised HR services in commercial and IT sectors Establish lifelong partnership with clients, employees, candidates and participants Expanding a strong and less vulnerable market position • Excellent reputation among candidates, students and clients. • Most qualified and competent consultants and training organisations in the market. • Success through speed. • Expansion of the sales organisation through permanent recruitment of qualified employees. • Growth by gaining market share throughout the regions. • In addition to organic growth, acquisition-based growth is also targeted in the Training segment. • Achieving the highest operating margins in the industry. • Face to face contact. • Understand requirements and match expectations. • Service portfolio provides options. • Quality guarantor of sales force: • Restrictive recruitment policy. • Comprehensive internal training. • Attractive and performance- based compensation. • Permanent investment in software, infrastructure & technology. 73
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Group Market for Personnel Services & Training Amadeus Fire Group Value drivers of the business model 74 ▪ Limited human resources in Germany became critical success factor. ▪ Further shortage of qualified employees in Germany following the demographic effect of the "baby boomers" (born 1955 to 1965). ▪ Requirements for professional qualifications will be exposed to a high level of change. ▪ Companies’ willingness to invest in the recruitment, qualification and retention of personnel. ▪ Highly competitive pressure, strictly regulated markets in Germany. High market entry barriers in the specialised areas. ▪ Publicly funded training & education is acknowledged to be the most important labour policy instrument for counteracting the shortage of skilled workers. ▪ Unique portfolio that comprehensively solves HR requirements in the administrative sector. ▪ Excellent market perception by candidates, employees, participants and customers. ▪ Course participants complement the recruitment of qualified candidates and create valuable resources. ▪ Market leadership in finance and accounting in both segments Personnel Services and Training. ▪ Best trained and compensated employees. ▪ Highest retention rate in the industry amongst temporary staff. Amadeus Fire Group | Group presentation l
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Group 75Amadeus Fire Group | Group presentation l 75 People always come first Center of Competence Personnel Services … empower ▪ Verstehen. ▪ Vertrauen. ▪ Verbinden. ▪ AI-based knowledge extraction for companies & professionals ▪ Agentic AI Services ▪ On & Off Boarding ▪ Best practices in sales ▪ Increased productivity in operations Individual SKILLS Training … enables Agentic AI skills People first ▪ Integration of company- specific learning content ▪ Corporate know-how and long-standig expertise ▪ Company-specific Academies-as-a-Serivce / White Label Academies Power sales
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Group 76 Unemployment rate of 6.4% in GER is still high representing >3.0 million people unemployed. Focus will remain on productivity increase & cost reductions, in B2G business with a much more positive earnings outlook for 2026 and a significant y-o-y upside potential. Key strategic focus will be on the consistent ‘AI First’ orientation of the segment. Integration of scalable SaaS platforms (B2B) with recurring revenue structures of latest acquisitions Masterplan and eduBITES give access to new corp. customer segments. B2C Training is still expected to end FY 2026 successful again. Despite the current economic downturn, there continues to be a structural shortage of skilled workers, which will remain effective in the long term. In the short term, however, this is being overshadowed by economic uncertainty and a reduced willingness to change jobs. Focus on ongoing organisational efficiency and cost-saving measures. At the same time, targeted investments will continue to be made in the further development of systems, processes and digital and AI-supported solutions to strengthen operational performance and competitiveness in the long term. Personnel Services segment Uncertain economic outlook for GER, limited momentum overall and profound structural challenges will limit its long-term growth potential. Productivity growth in GER remains comparatively low. Increasing volatility on international markets are hampering economic planning and influencing investments across national borders. Integration of the two segments by the systematic incorporation of Training offerings into existing sales opens up new corporate customers. Group Outlook FY 2026e Training segment Amadeus Fire Group | Group presentation l 76
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Amadeus Fire Group | Group presentation Group 1.1 11 to 0.7% 6-8% FY 2025 FY 2026e 207.5 to 180 FY 2025 FY 2026e 13.7 17 to 3.8% 5-7% FY 2025 FY 2026e 12.6 6 to 6.1% 3-6% FY 2025 FY 2026e 156.3 to 170 FY 2025 FY 2026e 77 (in € million) 363.6 to 350 FY 2025e FY 2026e Group Revenue Operating EBITA* and oper. EBITA* margin Segment Revenue Personnel Services Segment Revenue Training Operating EBITA* and oper. EBITA* margin Operating EBITA* and oper. EBITA* margin 77 Business development – Adjusted Outlook FY 2026e 365 23 10 190 175 13
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Amadeus Fire Group | Group presentation Dividend policy
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Group 2.83 3.37 3.53 3.66 3.96 4.66 0.00 1.55 3.04 4.50 5.00 4.03 0.00 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Overview of dividend payments (in € per share) 79 As a consequence of the acquisition of the Comcave College and the corona pandemic, the dividend was suspended in 2019 after years of full distribution (100%), followed by a payout ratio of 50%. From 2022 on the dividend policy was to distribute 67% of the consolidated net profit. The AGM on 28th May 2026 resolved that the result will be carried forward to the 2026 financial year and that no dividend will be paid for the Fiscal Year 2025. Payout ratio2013 – 2018: 100% 2020/21: 50% 2022 – 2024: 67% AGM resolved that no dividend will be paid for FY 2025 Amadeus Fire Group | Group presentation l 79
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Amadeus Fire Group | Group presentation Management Board
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Group Robert von Wülfing (German, born 1972) Chief Executive Officer & Chief Financial Officer Member of the Management Board as CFO since November 2012 Chairman of the Management Board since November 2020 Reappointed until 31st December 2030 81 Management Board Robert von Wülfing started his business career with Amadeus Fire AG after graduating in business administration at the University of Mannheim in 2000. Initially he was acting as investor relations manager and assistant to the CFO. Between 2003 and 2007 Robert von Wülfing worked as senior consultant with Greenwell Gleeson GmbH, a subsidiary of Amadeus Fire AG. After a short time of self employment as interim finance manager Robert von Wülfing switched to the pharmaceutical company Nycomed. Between 2008 and 2012 amongst others he was acting as director of business controlling, Germany, CFO of Nycomed Pharma AG in Switzerland and at least director commercial services DACH. In 2012 Robert von Wülfing returned to Amadeus Fire AG as CFO. In this capacity he is responsible for the divisions finance and accounting, controlling, human resources, IT, legal and internal audit, since 2014 additionally for the business segment training for 10 years. Amadeus Fire Group | Group presentation l 81
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Group Dennis Gerlitzki (German, born 1976) Chief Operating Officer Personnel Services Member of the Management Board since January 2019 Reappointed until 31st December 2031 82 Management Board Dennis Gerlitzki studied business administration with a special focus on marketing and technology management at the University of Lüneburg and finished his studies with a diploma. In 2003 he started his business career with Amadeus Fire AG as an executive assistant. Between 2005 and 2007 he worked as Senior Consultant and later as Area Manager in the Amadeus Fire branch in Hamburg. From 2008 on he was the regional director for all branches in the area of southern Germany for 10 years. Amadeus Fire Group | Group presentation l 82
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Group Monika Wiederhold (German, born 1969) Chief Operating Officer Training Member of the Management Board since November 2024 Appointed until 31st December 2027 83 Management Board Monika Wiederhold holds a diploma in mathematics (TU Darmstadt) and a Master of Business Administration (MBA, Hult International Business School). After periods of employment in the USA and Uruguay, she began her career in aviation as a simulation expert for flight planning and reservation systems at Lufthansa AG in Frankfurt/Main in 1995. Monika Wiederhold has held several top management positions within the Lufthansa Group in Corporate Strategy, Product Management, Innovation, Crew Scheduling, Marketing & Sales. In 2017, she started as Chairwoman of the Management Board of Amadeus Germany GmbH and was initially responsible for the travel agency business in Central & Eastern Europe and, from 2019, the airline business. From 2021, as Executive VP, she built up the global ecosystem initiatives to shape the travel ecosystem of the future: Sustainability, safe travel, mobility, data, API interfaces and innovation. Most recently, she was responsible for Global Marketing and Digital Transformation. She also represented Amadeus IT Group S. A. in Germany, including as a member of the Tourism Advisory Board of the Ministry of Economic Affairs and Climate Action. Amadeus Fire Group | Group presentation l 83
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Group Corporate Governance 84 ▪ Commitment to Diversity & Inclusion in our Supervisory & Management Board as well as in leadership positions. 5 7 Supervisory Board Female Male 41.7 percent women 1 2 Management Board Female Male 33.0 percent women Amadeus Fire Group | Group presentation l 84
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Group Corporate Goverance 85 ▪ Code of Conduct & Corporate Culture promote transparency, integrity, and ethical business behavior and help to mitigate risks in corporate governance and support marginalised groups. ▪ Strong Whistleblower & Compliance System that enables anonymous reporting and ensures confidentiality. ▪ Guidances regarding anti-corruption and bribery measures (policies on gifts and invitations in place) → Comprehensive anti-corruption directive adopted in H1 2026. ▪ Legal Compliance & Risk Prevention ensures adherence to legal regulations and corporate policies and investigates misconduct independently and objectively. ▪ We fully support collective bargaining law, labour law, social security law, the German General Act on Equal Treatment and the core labour standards of the International Labour Organisation. Amadeus Fire Group | Group presentation l 85
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Amadeus Fire Group | Group presentation Sustainability
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Amadeus Fire Group | Group presentation Group Sustainability Goals 87 • Focus on Social & Governance issues due to business model. • Specialised in Personnel Services & Training. • Material topics in accordance with ESRS: S1 Own workforce S2 Workers in the value chain S4 Consumers and end-users G1 Business conduct • Environmental protection remains a focus. • Active in sustainability initiatives within our scope as a service company, acting in Germany only. People are at the heart of our daily operation! 87
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Amadeus Fire Group | Group presentation Group Social Commitment 88 • We foster an open, fair, an appreciative culture respecting individuality and embracing diversity and inclusion within our sphere of influence. • We consistently support and challenge our employees in a gender-neutral manner. We achieve this through a transparent and understandable promotion culture. • To promote the well-being of our employees, we offer comprehensive benefits. • We apply our Company culture not only to our employees but also to candidates, trainees, clients, and suppliers. • Respectful interactions and compliance with all legal requirements are essential. 88
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Amadeus Fire Group | Group presentation Group Employee Benefits 89 • Flexible working model: The possibility of mobile working and flexible working hours support the work-life balance. • Health programmes: Occupational medical examinations, company pension schemes and subsidised fitness and sports programmes promote well-being. • Work bicycles and mobility offers: Subsidies for public transport and commuter bicycles facilitate sustainable and healthy mobility. • Corporate benefits: Free coffee and water and flexible overtime arrangements contribute to a positive working environment. • Social support: Offers such as the online family service "voiio" support employees in balancing work and family life through childcare programmes, advice and work-from-home exercises. 89
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Amadeus Fire Group | Group presentation Group Employee Education 90 • Training and education: Mandatory employee training courses — for example on the General Equal Treatment Act, data protection or IT security — guarantee a standardised level of knowledge and promote professional development. • Mentorship model: New employees are supported by experienced colleagues to make it easier for them to onboard with the Company and to identify long-term development opportunities. • Subsidised further training: Freely accessible subsidised further training, individual career planning and a high retention rate for temporary employees of around 50 percent in 2024 create prospects for professional growth. • Career: All employees receive regular performance and development reviews → Quotation 100% 90
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Amadeus Fire Group | Group presentation Group Diversity & Gender Equality 91 ▪ 93% permanent contracts overall. ▪ Approximately equal number of female (52%) and male (48%) employees. 1,611 1,478 3,089159 128 287 1,770 1,606 3,376 0 1,000 2,000 3,000 4,000 5,000 Female Male Total Number of employees and contract type (2025 on average) Permanent employees Temporary employees
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Amadeus Fire Group | Group presentation Group Environmental protection 92 • Our Commitment to Climate Action: • Environmental protection and climate change mitigation as key priorities. • Sustainable Business Operations: • Modern office spaces / leased properties meeting the latest energy efficiency standards. • Focus on green energy so nearly 100% of our electricity comes from renewable sources. • Expansion of hybrid and electric vehicles in the Company car fleet. • Active recycling system installed. • Use of environmentally friendly materials. • Further environmental projects and calculation of the CO2 footprint are planned for the future! 92
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Amadeus Fire Group | Group presentation Investor Relations
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Group Shareholder Structure (as of 27th July 2026) 94 Investor Relations Market Capitalisation: ~ 130 million EUR # Shares: 5,432,157 (since 7th November 2023) 18.75% Free float 81.25% Major investors within the free float: 4.8% Allianz Global Investors GmbH (GER) 3.3% Invesco Ltd. (Bermuda) 3.0% Midlin N.V. (NL) 2.9% abrdn Investment Management Limited (UK) 2.9% BNP PARIBAS AM (FRA) 2.8% DWS Investment GmbH (GER) Active Ownership Corporation S.à r.l. (LUX) Amadeus Fire Group | Group presentation 94
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Group Financial calendar 2026 (I) 95 Investor Relations 19 Jan 2026 26 Jan 2026 05 Feb 2026 17 Feb 2026 18 Feb 2026 25 Mar 2026 26 Mar 2026 14 Apr 2026 06 May 2026 07 May 2026 28 May 2026 Kepler Cheuvreux GCC German Corporate Conference, Frankfurt/Main ODDO BHF Small & Mid Cap Equity Forum, Frankfurt/Main montega 15th HIT Hamburg Investors Days, Hamburg Publication of preliminary unaudited Financial Key Figures FY 2025 (post trading hours) Conference Call preliminary unaudited Financial Key Figures FY 2025 at 03.00 p.m. CET Publication of Consolidated Financial Statements FY 2025 (post trading hours) Conference Call Consolidated Financial Statements FY 2025 at 08.30 a.m. CET mwb research 7th German Select Conference 2026 at 10:30 a.m. CEST Publication of Q1/3M Interim Statement 2026 (post trading hours) Conference Call Q1/3M Interim Statement 2026 at 08.30 a.m. CEST AGM Annual General Shareholders Meeting 2026 (Start at 11.00 a.m. CEST) Amadeus Fire Group | Group presentation l 95
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Group Financial calendar 2026 (II) 96 Investor Relations 29 May 2026 11 Jun 2026 29-30 Jun 2026 03 Aug 2026 04 Aug 2026 21 Sep 2026 22 Sep 2026 22 Oct 2026 02 Nov 2026 03 Nov 2026 23-25 Nov 2026 Kepler Cheuvreux’s Virtual SMID CEO-CFO Week at 02.00 p.m. CEST Quirin Champions Conference 2026, Frankfurt/Main DIRK Conference 2026 (German Investor Relations Association), Frankfurt/Main Publication of Q2/6M Interim Report 2026 (post trading hours) Conference Call Q2/6M Interim Report 2026 at 08.30 a.m. CET Baader Investment Conference 2026, Munich Berenberg & Goldman Sachs GCC German Corporate Conference, Unterschleissheim/Munich ODDO BHF Around Round Table 2026, Frankfurt/Main Publication of Q3/9M Interim Statement 2026 (post trading hours) Conference Call Q3/9M Interim Statement 2026 at 03.00 p.m. CET German Equity Capital Market Forum 2026 / Deutsches Eigenkapitalforum (EKF) 2026, Frankfurt/Main Amadeus Fire Group | Group presentation l 96
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Group Financial calendar 2027 (I) 97 Investor Relations 20 Jan 2027 Mid-Feb 2027 Mid-Feb (+1) 2027 24 Mar 2027 25 Mar 2027 04 May 2027 05 May 2027 End of May 2027 Kepler Cheuvreux 26th GCC German Corporate Conference, Frankfurt/Main Publication of preliminary unaudited Financial Key Figures FY 2026 (post trading hours) Conference Call preliminary unaudited Financial Key Figures FY 2026 at 03.00 p.m. CET Publication of Consolidated Financial Statements FY 2026 (post trading hours) Conference Call Consolidated Financial Statements FY 2026 at 08.30 a.m. CET Publication of Q1/3M Interim Statement 2027 (post trading hours) Conference Call Q1/3M Interim Statement 2027 at 08.30 a.m. CEST AGM Annual General Shareholders Meeting 2027 (Start at 11.00 a.m. CEST) Amadeus Fire Group | Group presentation l 97
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Group Financial calendar 2027 (II) 98 Investor Relations 04 Aug 2027 05 Aug 2027 03 Nov 2027 04 Nov 2027 End of Nov 2027 Publication of Q2/6M Interim Report 2027 (post trading hours) Conference Call Q2/6M Interim Report 2027 at 08.30 a.m. CET Publication of Q3/9M Interim Statement 2027 (post trading hours) Conference Call Q3/9M Interim Statement 2027 at 03.00 p.m. CET German Equity Capital Market Forum 2027 / Deutsches Eigenkapitalforum (EKF) 2027, Frankfurt/Main Amadeus Fire Group | Group presentation l 98
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Group Research Coverage Institution Rating Target Price Latest Update Buy 65.00 EUR 04 Aug 2026 Outperform 32.00 EUR 04 Aug 2026 Buy 72.00 EUR 24 Feb 2026 Amadeus Fire share 99 Investor Relations ISIN DE0005093108 Ticker symbol AAD (Deutsche Börse AG) AAD:PZ (Bloomberg) AMDG.DE (Reuters) Free Float > 81% (as defined by Deutsche Börse AG) Market Segment Prime Standard Class of shares Number of shares Share Capital Bearer Shares 5,432,157 5,432,157 EUR Designated Sponsor Indices ODDO BHF SE, Frankfurt/Main CDAX, Prime All Share, Classic All Share, DAX Sector Industrial, DAX Subsector Products & Services, MSCI Micro Cap, BX Swiss EMEA Contact Jörg Peters Phone +49 69 96 87 61 80 Mail ir@amadeus-fire.de Homepage https://group.amadeus-fire.de Address Amadeus Fire AG Hanauer Landstrasse 160 D - 60314 Frankfurt/Main Investor Relations Amadeus Fire Group | Group presentation l 99
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This presentation contains forward-looking statements about the business activities and expectations of Amadeus FiRe AG. These statements are based on the current expectations, assumptions and forecasts of the management board and the information currently available to it. These forward-looking statements do not guarantee any of the future developments and results mentioned in them. Future developments and results are dependent on a variety of factors; they involve several risks and are based on assumptions that may not prove to be accurate. We assume no obligation to update the forward-looking statements made in this presentation. Legal Disclaimer 10 0 Definition operating EBITA at Amadeus Fire Group: Profit from operations before goodwill impairment and amortisation of intangible assets from the purchase price allocation / as well as before effects from the measurement of the purchase price liability of the non-controlling shareholders in Amadeus Fire Weiterbildung Verwaltungs GmbH and eduBITES GmbH. Amadeus Fire Group | Group presentation l 100