Slides
Page 1
A European Serial Acquirer in Cloud . WIIT JO 1996.2026 Capital Allocation at its Best . Investor Presentation : H1 2026 Results 04 August 2026
Page 2
Financials: H1 2026 Results 2
Page 3
Investor Presentation Financial Highlights H1 2026 H1 2026 Results 81.8 M€ Adjusted Revenues -4.1% vs H1 2025 (85.3 M€) -1.8%* vs H1 2025 (83.3 M€ ex. 2.0 M€ one-time) 68.8 M€ +0.8% ARR** vs H1 2025 (68.2 M€) 91.8% of T ot. Revenue High revenue visibility and predictability 34.2 M€ Adj EBITDA -1.55% vs H1 2025 (34.8 M€) +4.5%* vs H1 2025 (32.8 M€ ex. 2.0 M€ one- time) Margin 41.8% 18.4 M€ Margin 22.5% 7.9 M€ Adj Net Profit vs H1 2025 (10.0 M€, comparable 8.0 M€ ex. 2.0 M€ one-time in H1 2025 ) Financial Income and Expenses at -€6.7 million, up by €2.4 million compared with the previous year. This amount is mainly attributable to interest on bond loans. Financial income amounted to €2.5 million. -173.6 M€ Adj Net Debt*** vs -156.2 M€ at 31 December 2025 *** Excluding the IFRS 16 effect of €16.5 million (€13.7 million in FY2025) and including the valuation of treasury shares held in portfolio of approx €58.7 million based on the market value as at 30 June 2026 (market value as at 31 December 2025 €56.1 million). Including treasury shares cancelled in May 2026, equal to 6% of share capital. Value at H1 2026 comparable to 31 December 2025 equal to Euro -115.7 million **ARR: revenues reported related to H1 2026 from recurring services of companies operating in the Cloud and Cyber Security ma rket in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland ( Econis AG) . 2 Adj EBIT -0.4% vs H1 2025 (18.5 M€) +11.7%* vs H1 2025 (16.5 M€ ex. 2.0 M€ one- time) * The comparison with H1 2025 is affected by the recognition, in the comparative period, of a one-time positive effect of approximately Euro 2 million in Germany, resulting from the absence of the obligation to pay a variable component of the additional consideration established in connection with a previous acquisition in Germany.
Page 4
Investor Presentation Key Figures by Country H1 2026 Results Italy IT ADJ. REVENUES 30.3 M€ 37.1% of Group Revenues ARR* 29.0 M€ 91.2% of the total Revenues ADJ. EBITDA 16.6 M€ 54.8% EBITDA Margin Vs 53.5% in H1 2025 ADJ. EBIT 8.3 M€ 27.3% EBIT Margin Vs 22.1% in H1 2025 Germany DE ADJ. REVENUES 43.3 M€ 52.9% of Group Revenues ARR* 33.2 M€ 95.1% of the total Revenues ex Gecko ADJ. EBITDA 16.0 M€ 36.9% EBITDA Margin Vs 39.3% in H1 2025, 36.5% ex. 2.0 M€ one-time ** ADJ. EBIT 9.5 M€ 21.9% EBIT Margin Vs 26.1% in H1 2025, 22.7% ex. 2.0 M€ one-time ** Swiss CH ADJ. REVENUES 8.2 M€ 10.0% of Group Revenues ARR* 6.6 M€ 80.4% of the total Revenues ADJ. EBITDA 1.6 M€ 19.7% EBITDA Margin Vs 13.3% in H1 2025 ADJ. EBIT 0.6 M€ 7.6% EBIT Margin Vs 2.0% in H1 2025 Group TOTAL ADJ. REVENUES 81.8 M€ ARR* 68.8 M€ 91.8% of the total Revenues ADJ. EBITDA 34.2 M€ 41.8% EBITDA Margin ADJ. EBIT 18.4 M€ 22.5% EBIT Margin *ARR: revenues reported related to H1 2026 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, M&P, exc. Gecko) and Switzerland ( Econis AG). ** The comparison with H1 2025 is affected by the recognition, in the comparative period, of a one-time positive effect of approximately Euro 2 million in Germany, resulting from the absence of the obligation to pay a variable component of the additional consideration established in connection with a previous acquisition in Germany. 3
Page 5
Investor Presentation 34.1 34.3 68.2 68.8 10.1 6.1 17.1 13.0 Q2 2025 Q2 2026 H1 2025 H1 2026 ARR Other revenues 5 H1 2026 ARR* 5 85.3 81.8 +0.8% Group Recurring Revenues (ARR)*: +0.8% vs H1 2025, of which: ➢ Italy: 29.0 M€ +6.8% in H1 2026 (14.5 M€ in Q2 2026 +6% vs Q2 2025) ➢ Germany: 33.2 M€ -3.4% in H1 2026(16.6 M€ in Q2 2026 - 2.7% vs Q2 2025) ➢ Switzerland: 6.6 M€ broadly in line with H1 2025 (3.2 M€ in Q2 2026 -3.7% vs Q2 2025) The churn effect is mainly attributable to the strategic decision in Italy and in Germany to focus the portfolio on high value-added contracts with higher margins, in line with the premium positioning of the offering. Most of the extraordinary churn in Germany of approximately 7 M€, which occurred in 2025, is mainly recognized in 2026. *ARR: revenues reported related to H1 2026 from recurring services of companies operating in the Cloud and Cyber Security market in Italy (WIIT S.p.A.), Germany (WIIT AG, exc. Gecko) and Switzerland (Econis AG). ** The comparison with H1 2025 is affected by the recognition, in the comparative period, of a one-time positive effect of approximately Euro 2 million in Germany, resulting from the absence of the obligation to pay a variable component of the additional consideration established in connection with a previous acquisition in Germany. H1 2026 Results m€ 44.2 40.4 +80bps +0.7% Q2 2025 Adjusted Revenues 42.2M€ excluding one-time 2.0M€ ** H1 2025 Adjusted Revenues 83.3M€ excluding one-time 2.0M€ **
Page 6
Investor Presentation 8.4 8.3 15.5 16.6 9.8 7.9 17.9 16.0 0.8 0.8 1.4 1.6 Q2 2025 Q2 2026 H1 2025 H1 2026 Italy Germany Swiss 6 H1 2026 Adj EBITDA*: strong profitability 6 34.8 34.2 H1 2026 Results m€ 19.0 17.0 43.0% Adj EBITDA Margin 42.1% Q2 2025 Adjusted EBITDA 17M€ excluding one-time 2.0M€ ** 40.8% Adj EBITDA Margin 41.8% H1 2025 Adjusted EBITDA 32.8M€ excluding one-time 2.0M€ ** Adj EBITDA Margin - Germany at 36.9% (36.5% in H1 2025 excluding 2 M€ una tantum). WIIT AG margin exc. Gecko is 39.2% (38.8% in H1 2025 excluding one-time 2 M€) Focus on Cloud services, optimization in the organization of processes and operational services, cost synergies, and continuous improvement in margins of the acquired companies Group Adj EBITDA Margin at 41.8% improving 250bps on 39.3% in H1 2025 excluding one-time 2.0 M€ ** Adj EBITDA Margin - Italy at 54.8% (53.5% in H1 2025), registering a significant progress vs H1 2025, due to the continuous focus on higher value-added services. Adj EBITDA Margin - Swiss at 19.7% (13.3% in H1 2025). Registeringa significant improvement * The Adjustment at activities for extraordinary M&A transactions for €0.4 million, costs related to financial instrument-based incentive plans for €0.3 million, personnel reorganization costs of approximately €0.2 million, and other non-recurring costs of €0.4 million. ** The comparison with H1 2025 is affected by the recognition, in the comparative period, of a one-time positive effect of approximately Euro 2 million in Germany, resulting from the absence of the obligation to pay a variable component of the additional consideration established in connection with a previous acquisition in Germany.
Page 7
Investor Presentation 3.7 4.1 6.4 8.3 6.8 4.6 11.9 9.5 0.2 0.3 0.2 0.6 Q2 2025 Q2 2026 H1 2025 H1 2026 Italy Germany Swiss 7 H1 2026 Adj EBIT*: significant margin improvement 7* The Adjustment applied at EBIT level as at 30 June 2026 refers to the above-mentioned adjustments at EBITDA level and to amortization relating to the PPA (“Purchase Price Allocation”) arising from the acquisitions, amounting to €2.4 million ** The comparison with H1 2025 is affected by the recognition, in the comparative period, of a one-time positive effect of approximately Euro 2 million in Germany, resulting from the absence of the obligation to pay a variable component of the additional consideration established in connection with a previous acquisition in Germany. 18.4 Significant progress compared to the previous year, confirming the Group’s ability to generate profitability and leverage the efficiency measures implemented Adj Group EBIT Margin 22.5% improving 270bps on 19.8% in H1 2025 excluding one-time 2.0 M€ ** Adj EBIT Margin – Italy 27.3% (22.1% in H1 2025) Adj EBIT Margin – Germany 21.9% (26.1%, 22.7% in H1 2025 excluding one-time 2 M€) 18.5 H1 2026 Results m€ 10.7 9.0 24.2% Adj EBIT Margin 22.2% 21.6% Adj EBIT Margin 22.5% H1 2025 Adjusted EBIT 16.5M€ excluding one-time 2.0M€ **Q2 2025 Adjusted EBIT 8.7M€ excluding one-time 2.0M€ **
Page 8
Investor Presentation 8 H1 2026 CAPEX: Well invested asset base confirming the scalability of the business model 8 20.1 14.9 H1 2026 Results m€ +80bps ➢ Utilization rate of premium cloud data center: 51% in Italy and 53% in Germany. Opportunity to double revenues without extra investments in CAPEX ➢ Growth Capex 20% of the total value of new contracts 13.1 9.1 7.0 5.8 H1 2025 H1 2026 Cash Capex Right of Use
Page 9
Investor Presentation H1 2026 Net Financial Position bridge 99 -224.8 34.2 -9.1 -5.9 -6.9 -2.9 -0.4 -16.6 -9.1 -7.4 -248.9 16.5 58.7 -173.6 IFRS 16 Treasury Shares Value at 30/06/2026 H1 2026 Adjusted NFP H1 2026 Results m€ The Value at H1 2026 comparable to FY 2025 is equal to Euro -115.7 million including the treasury shares cancelled in May 2026, equal to 6% of share capital
Page 10
Investor Presentation 10 FY2020/H1 2026 Net Financial Position and leverage trend H1 2026 Results 248.9 M€ Net Debt as of June 30th 2026 173.6 M€ Adj. Net Debt Restated Bond 2030 as of June 30th 2026 Adj NFP - Restated Bond 2030* NFP Reported 3.8 x 2.9 x Leverage as of June 30th 2026 Adj. Leverage Restated Bond 2030 as of June 30th 2026 Adj Leverage - Restated Bond 2030* Leverage (NFP/EBITDA) * Net Debt excluding IFRS16 of 16.5 M€ and including the treasury shares value as 30 June 2026 of 58.7 M€. Adj. Ebitda excluding IFRS16 70.8 84.0 142.6 154.2 163.0 156.2 173.6 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 H1 2026 248.9 95.6 140.7 180.8 202.2 212.7 224.9 4.2x 3.1x 3.6x 3.4x 3.1x 2.6x 2.9x FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 H1 2026 3.8x 5.2x 4.8x 4.3x 4.0x 3.7x 3.4x
Page 11
Investor Presentation Free Float 32.07% Treasury Shares 5.46% Alessandro Cozzi (*) 62.48% (*) AlessandroCozzi and his own companies Shareholders’ Structure As at August 03, 2026 No. Shares 28.020.660 11 H1 2026 Results