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This content is classified as Internal 1H25 Results Presentation July 31st, 2025
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This content is classified as Internal 2 Disclaimer ▪ This Presentation may contain written and oral “forward-looking statements”, which includes all statements that do not relate solely to historical or current facts and which are therefore inherently uncertain. All forward-looking statements rely on a number of assumptions, expectations, projections and provisional data concerning future events and are subject to a number of uncertainties and other factors, many of which are outside the control of Nexi Group (the “Company”). There are a variety of factors that may cause actual results and performance to be materially different from the explicit or implicit contents of any forward-looking statements and thus, such forward-looking statements are not a reliable indicator of future performance. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable law. The information and opinions contained in this Presentation are provided as at the date hereof and are subject to change without notice. Neither this Presentation nor any part of it nor the fact of its distribution may form the basis of, or be relied on or in connection with, any contract or investment decision. ▪ The information, statements and opinions contained in this Presentation are for information purposes only and do not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments. None of the securities referred to herein have been, or will be, registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state or other jurisdiction of the United States or in Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would be unlawful (the “Other Countries”), and there will be no public offer of any such securities in the United States. This Presentation does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or the Other Countries. ▪ Pursuant the consolidated law on financial intermediation of 24 February 1998 (article 154-bis, paragraph 2) Enrico Marchini, in his capacity as manager responsible for the preparation of the Company’s financial reports declares that the accounting information contained in this Presentation reflects Nexi Group’s documented results, financial accounts and accounting records. ▪ Neither the Company nor any of its representatives, directors or employees accept any liability whatsoever in connection with this Presentation or any of its contents or in relation to any loss arising from its use or from any reliance placed upon it.
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This content is classified as Internal 3 Key messages Shaping Nexi for future profitable growth Continued delivery of profitable growth ▪ Revenues growing at +3.4% vs 1H24, with Merchant Solutions revenues up +3.9% vs 1H24 ▪ EBITDA growing at +5.2% vs 1H24 with ~88 bps EBITDA margin expansion y/y, thanks to continued operating leverage and cost control ▪ Continued strong excess cash generation at 407 €M in 1H25 ▪ Returning 1.1 €B of capital to Shareholders in 2024-2025, while becoming Investment Grade issuer at the same time ▪ ~600 €M total Shareholders’ return in 2025 (+20% increase vs 2024): o the first ever dividend of ~300 €M paid in May o ongoing ~300 €M share buy-back program ▪ Inaugural Investment Grade 750 €M 6-year maturity senior unsecured notes successfully issued in May, at 150 bps spread above the reference rate Creating value for our Shareholders ▪ Continued progress on partnership-based integrated payments strategy execution ▪ Strong performance of Italian complementary SME sales channels, representing ~26% of new sales in 1H25 vs 20% in 1H24, with field sales almost tripling ▪ Continued progress on E-commerce supported by strong customer base growth across geographies ▪ Continuously strengthening the relationship with Italian banks. 100% success rate on contract renewals in the last year; major contracts expiring in 2025 already extended 2025 Guidance confirmed ▪ Revenues: Low-to-mid single digit y/y growth ▪ EBITDA margin: At least 50 bps expansion y/y ▪ Excess cash: at least 800 €M
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This content is classified as Internal Focus on 1H25 results
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This content is classified as Internal 5 2Q24 2Q25 1H24 1H25 878.5 905.3 1,659.7 1,715.5 +3.0% +3.4% 2Q24 2Q25 1H24 1H25 465.1 482.3 826.4 869.2 +3.7% +5.2% 50% 51% Net Revenues (€M) EBITDA (€M)Net Revenues (€M) EBITDA margin Note: Data at constant scope and FX. 53% 53% + 88 bps+ 34 bps Solid Revenue and EBITDA growth, with continued margin expansion
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This content is classified as Internal 6 Merchant Solutions: continued growth supported by International schemes volumes and value enhancing initiatives Note: (1) Contribution to 1H Group Revenues. (2) # of POS terminals Merchant Solutions 1H24 1H25 407.3 408.6 +0.3% 1H24 1H25 9,537 9,852 +3.3% 2Q24 2Q25 1H24 1H25 504.9 522.1 942.4 979.5 +3.4% +3.9% Net Revenues (€M) Key HighlightsManaged Transactions (#M) Value of Managed Transactions (€B) International Schemes International Schemes +8.7% +8.1% 57%1 ▪ Sustained International schemes volume growth across geographies ▪ As expected, 2Q25 revenue and volume growth impacted more than 1Q25 by known banks lost in Italy due to M&A ▪ Robust growth of SMEs customer base2 in DACH and Poland, and in E- commerce across geographies ▪ Continued contribution to revenue growth from VAS upselling
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This content is classified as Internal 7 Note: (1) Contribution to 1H Group Revenues. Issuing Solutions: growth supported by International schemes volumes and success of more valuable propositions Issuing Solutions 1H24 1H25 436.5 436.1 -0.1% 1H24 1H25 9,940 10,293 +3.6% 2Q24 2Q25 1H24 1H25 281.6 288.9 539.0 554.7 +2.6% +2.9% Net Revenues (€M) Key HighlightsManaged Transactions (#M) Value of Managed Transactions (€B) +10.7%International Schemes +7.3%International Schemes 32%1 ▪ Sustained International schemes number and value of transactions growth in 1H25 ▪ Continued migration from national to international schemes ▪ Continued success of international debit in Italy and up-selling/cross-selling of VAS
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This content is classified as Internal 8 Note: (1) Contribution to 1H Group Revenues. 2Q24 2Q25 1H24 1H25 92.0 94.3 178.3 181.2 +2.5% +1.6% Digital Banking Solutions Net Revenues (€M) Key Highlights 11%1 Digital Banking Solutions: continued revenue growth in 2Q25, thanks to volumes and initiatives ▪ Continued revenue growth thanks to positive volumes and initiatives evolution, especially in A2A and Instant payments ▪ Acceleration of Instant Payments volumes, also driven by new regulation, positively impacting bank processing, network and ACH services ▪ Delivery of new mandatory VAS on Instant Payments (e.g. Verification-Of- Payee and anti-fraud)
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This content is classified as Internal 9 Continued revenue growth across geographies in 1H25 Note: (1) Contribution to 1H Group Revenues. (2) Including Baltics. (3) Including Poland. CSEE3 Nordics2 DACH Italy 1H24 1H25 976.4 1,015.1 +4.0% 1H24 1H25 291.5 300.8 +3.2% 1H24 1H25 142.1 149.4 +5.2% 1H24 1H25 249.9 250.2 +0.1% 59%1 9%1 Key Highlights18%1 15%1 ▪ Italy: 1H25 revenue growth supported by International schemes volume growth and Issuing Solutions performance despite leap year and expected impacts from known banks lost due to M&A ▪ Nordics: 1H25 revenue performance supported by strong E-commerce growth, VAS up-selling (e.g. DCC) and value management initiatives ▪ DACH: continued strong y/y revenue growth in Merchant Solutions in Germany (+8% y/y in 1H25), while total revenues affected by one expected Issuing Solutions contract discontinuity ▪ CSEE: 1H25 revenue performance affected, as expected, by discounts in Issuing Solutions contracts, offset by good performance in Merchant Solutions in Poland
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This content is classified as Internal 10 Strong cost performance thanks to operating leverage, cost control and personnel efficiency initiatives from 2Q24 2Q24 2Q25 1H24 1H25 413.5 422.9 833.3 846.2 189.1 224.4 182.5 240.4 394.7 438.6 377.1 469.2 +2.3% +1.6% Personnel Costs Operating Costs Total Costs (€M) -4.5% +7.0% Key Highlights -3.5% +7.1% ▪ Continued organizational efficiency measures and operating leverage limiting cost growth notwithstanding volume, business growth and inflationary pressure: o Personnel costs benefitting from the efficiency measures put in place last year starting from 2Q24, despite inflationary pressure o Operating costs impacted by volume, business growth, inflationary pressure and some project phasing effects ▪ FY25 total cost growth expected broadly in line with 1H25, although with different trends across personnel and operating costs vs 1H25
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This content is classified as Internal 11 Capex and Capex intensity decreasing despite continued investments to support innovation, quality and IT transformation 196 179 1H24 1H25 -8.7% Capital Expenditure1 (€M) % of 1H24 net revenues 12% Note: (1) Excluding Ratepay % of 1H25 net revenues 10% Key Highlights ▪ Continued reduction of total Capex and Capex intensity, down ~2 p.p. y/y in 1H25, thanks to continued focus on Capex efficiency and some phasing effects within the year ▪ Continued progress on IT platforms modernization and consolidation ▪ Continued investments to support innovation, quality and security
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This content is classified as Internal 12 Continued reduction of Integration and Transformation Costs Transformation costs -1.1 Integration costs Severance -1.0 M&A impacts, fees and others LTI & IPO costs sustained by Financial Sponsors 1H25 Non recurring items -33.7 -7.5 -8.3 -51.6 1H24 1.1 1H25 36.8 34.83.3 33.5 33.7 -5% Transformation and integration costs (€M) Bridge from 1H 2025 transformation and integration costs to non-recurring items (€M) Total Transformation and integration costs 34.8 €M Note: (1) ~0.6€M. Nexi shares granted by Advent/Bain/Clessidra to >400 employees as part of the IPO process. Full cost born by Advent/Bain/Clessidra with neutralization for Nexi flowing through Equity, not P&L Integration costs Transformation costs 1 (non-cash)
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This content is classified as Internal 13 Continued strong excess cash generation in the semester 1H25 Reported EBITDA -172.5 Cash Capex -54.0 Non-recurring cash items -63.2 ∆ NWC Operating Cash Flow -24.8 Cash Taxes -97.8 Net Cash Interest Expense -51.7 Other Cash items2 Excess Cash 870.9 581.3 407.1 Excess cash generation1 (€M) Note: (1) Operating cash flow generation after cash interest expenses and other cash items (cash taxes, IFRS 16 and other). (2) Lease payments (IFRS16) and others +6% y/y
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This content is classified as Internal 14 Net Financial Debt / EBITDA at 2.7x, having already returned ~1 €B to shareholders Key Highlights LTM 2Q24 LTM 3Q24 FY24 LTM 1Q25 LTM 2Q25 2.8x 2.8x 2.7x 2.5x 2.7x LTM EBITDA (€M)2 Net Financial Debt (€M) Net Financial Debt / EBITDA (€M) 1,8331,809 1,857 Note: (1) Visa and other listed shares. (2) Including assets held for sale. (3) As of June 30th, 2025. After hedge and excluding the other financial liabilities (e.g. earnouts, IFRS16, etc.) as well as the S/T financial debt; debt is at nominal value. 1,880 ▪ ~367 €M reimbursed in June 2025 as planned; remaining ~140 €M of 2025 debt maturities to be repaid with available cash in December ▪ 750 €M 6-year maturity new senior unsecured notes issued in May 2025 under the newly established EMTN program, effectively covering most of our debt maturities through 2027 ▪ Weighted average debt maturity of ~3.5 years and average pre-tax cash cost of debt broadly stable at ~2.41%3 (77% fixed-rate) 1,899 2.4x pre 2025 capital return to shareholders 2.2x pre 2024 and 2025 capital return to shareholders Jun 24 Sept 24 Dec 24 Mar 25 Jun 25 Gross Financial Debt 6,939 6,964 6,450 6,612 7,108 Cash 1,870 1,673 1,405 1,733 1,922 Cash Equivalents 1 67 68 74 89 89 Net Financial Debt 5,001 5,223 4,971 4,790 5,097
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This content is classified as Internal 15 2025 Guidance confirmed At least 50 bps expansion y/y At least 800 €M Net Revenues EBITDA margin Excess cash generated2 Low-to-mid single digit y/y growth Note: (1) Net of extraordinary high impacts, such as banks’ merchant books M&A and banks’ contracts renegotiations. (2) Operating cash flow generation after cash interest expenses and other cash items (cash taxes, IFRS 16 and other). Underlying1 growth acceleration y/y
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This content is classified as Internal Closing remarks
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This content is classified as Internal 17 Key messages Shaping Nexi for future profitable growth Continued delivery of profitable growth ▪ Revenues growing at +3.4% vs 1H24, with Merchant Solutions revenues up +3.9% vs 1H24 ▪ EBITDA growing at +5.2% vs 1H24 with ~88 bps EBITDA margin expansion y/y, thanks to continued operating leverage and cost control ▪ Continued strong excess cash generation at 407 €M in 1H25 ▪ Returning 1.1 €B of capital to Shareholders in 2024-2025, while becoming Investment Grade issuer at the same time ▪ ~600 €M total Shareholders’ return in 2025 (+20% increase vs 2024): o the first ever dividend of ~300 €M paid in May o ongoing ~300 €M share buy-back program ▪ Inaugural Investment Grade 750 €M 6-year maturity senior unsecured notes successfully issued in May, at 150 bps spread above the reference rate Creating value for our Shareholders ▪ Continued progress on partnership-based integrated payments strategy execution ▪ Strong performance of Italian complementary SME sales channels, representing ~26% of new sales in 1H25 vs 20% in 1H24, with field sales almost tripling ▪ Continued progress on E-commerce supported by strong customer base growth across geographies ▪ Continuously strengthening the relationship with Italian banks. 100% success rate on contract renewals in the last year; major contracts expiring in 2025 already extended 2025 Guidance confirmed ▪ Revenues: Low-to-mid single digit y/y growth ▪ EBITDA margin: At least 50 bps expansion y/y ▪ Excess cash: at least 800 €M
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This content is classified as Internal Q&A
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This content is classified as Internal Annex
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This content is classified as Internal 20 €M 1H24 1H25 Δ% vs. 1H24 2Q24 2Q25 Δ% vs. 2Q24 Merchant Solutions 942.4 979.5 +3.9% 504.9 522.1 +3.4% Issuing Solutions 539.0 554.7 +2.9% 281.6 288.9 +2.6% Digital Banking Solutions 178.3 181.2 +1.6% 92.0 94.3 +2.5% Net revenues 1,659.7 1,715.5 +3.4% 878.5 905.3 +3.0% Personnel Costs (394.7) (377.1) -4.5% (189.1) (182.5) -3.5% Operating Costs (438.6) (469.2) +7.0% (224.4) (240.4) +7.1% Total Costs (833.3) (846.2) +1.6% (413.5) (422.9) +2.3% EBITDA 826.4 869.2 +5.2% 465.1 482.3 +3.7% Ordinary D&A (231.3) (236.6) +2.3% Normalised Interests & financing costs (124.7) (123.0) -1.4% Normalised Pre-tax profit 470.5 509.7 +8.3% Income taxes (156.0) (169.5) +8.7% Profit (loss) after tax from AFS, equity investments and minorities (11.7) (11.7) +0.6% Normalised Net profit 302.9 328.5 +8.5% Group normalised P&L at constant scope and FX
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This content is classified as Internal 21 Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets 1H25 Revenues breakdown 1H25 Costs breakdown by type By geography By business By type 11% 32% 57% Merchant Solutions Issuing Solutions Digital Banking Solutions Italy DACH & Poland Nordics1 SE Europe & Other (1) Including Baltics. 9% 15% 59%18% 36% 64% Installed based Volume driven 19% 81% Variable costs Fixed Costs 74% 26% Merchant Solutions 52% 48% Issuing Solutions 45% 55% Digital Banking Solutions
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This content is classified as Internal 22 Bridge from Reported EBITDA to Normalised Net Profit €M 870.9 87.7 328.5 222.2 62.2 At constant FX D&A customer contracts 6.2 ∆ Interest expenses 1H25 Reported EBITDA -37.7 ∆ Taxes -10.5 Net profit/loss of AFS and equity investments 1H25 Normalised Net Profit -458.8 D&A -129.1 Interest Expenses -62.2 Non recurring items -131.8 Taxes -1.2 Minorities 1H25 Reported Net Profit -1.7 Non recurring items
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This content is classified as Internal 23 Bridge from excess cash to cash flow of the period €M 407 517 653 1H25 Excess Cash Δ Debt -495 Δ Equity -48 Net M&A Cash Flow of the period ~184 €M share buy-back ~307 €M dividends
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This content is classified as Internal 24 Debt maturities as of 1H25 Note: (1) Expressed at nominal value, excludes the other M/L T financial liabilities as well as the S/T debt. (2) Assuming full exercise of the 1Y extension option on the 900 €M term facility. (3) Amortising term loan with semi-annual installments and 6 months of grace period. (4) Amortising term loan with semi-annual installments and 2 years of grace period. Nexi Group Debt Maturity Schedule1 (€M) 140 926 500 1,000 1,050 1,000 750 2025 50 2026 2027 2028 2029 2030 9002 1003 2031 2032 2024 2033 976 1,750 Term Loans Senior Notes Convertible Notes ~367 €M already reimbursed in June
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This content is classified as Internal Investor Relations investor.relations@nexigroup.com Stefania Mantegazza stefania.mantegazza@nexigroup.com