Slide 1: Full Year Results
Full Year Results Audited results to 30 September 2025 11 December 2025 Together we're creating a more secure digital future NCC Group classification: Public
Slide 2: Introduction
Introduction • Performance improvement in the second half • The results today are in line with the Board’s expectation and good strategic progress is being made across both the Cyber Security and the Escode business • Two main reviews are in progress: - The Escode review - The strategic review of Cy
Slide 3: Overview
Overview Mike Maddison Chief Executive Officer NCC Group plc classification: Public
Slide 4: A recap on NCC Group
A recap on NCC Group Shaping cyber security and software resilience solutions for the world’s leading companies and governments Two distinct Cyber Security Escode businesses The global leader in escrow services, Helping corporates and governments manage a trusted third party helping A trusted partne
Slide 5: FY25 Escode highlights
FY25 Escode highlights Building deeper expertise and expanding reach • Reorganised the sales structure by industry verticals to deliver deeper sector expertise and create greater value for customers in finance, critical infrastructure and commercial markets • Established a new customer acquisition t
Slide 6: FY25 Cyber highlights
FY25 Cyber highlights Focused on scale, efficiency and client value • Investment in strategic sales capability • Enhanced client propositions with embedded technology • Foundations in place for global account management to deepen relationships and unlock revenue opportunities • Global sales operatio
Slide 7: Financial Review
Financial Review Guy Ellis Chief Financial Officer NCC Group plc classification: Public
Slide 8: Financial Summary excluding Fox Crypto
Financial Summary excluding Fox Crypto LFL1 Revenue LFL1 Gross LFL1 Adjusted margin % EBITDA 2.6% CC decline +0.6% pts 3.6% decline (£11.3m) (£3.1m) (£1.5m) LFL1 Operating LFL1 Profit Net cash profit Before Tax £19.0m loss to £25.3m loss to £13.1m £22.8m profit £17.8m profit 8 NCC Group plc classifi
Slide 9: Group income statement including Fox Crypto
Group income statement including Fox Crypto 1 Audited Year Ended 30 September 2025 12-months to 12-months to • Revenue declined by 6.2% constant currency (actual Actual rates 30 Sep 2024 30 Sep 2025 % change (£m) (£m) rates 7.2%) Revenue 329.2 305.4 (7.2%) Gross Profit 142.9 135.9 (4.9%) Gross margi
Slide 10: FY25 Financial framework
FY25 Financial framework Sustainable Improved Efficiency Capital deployment revenue growth Gross Margin for growth supporting growth Deliver underlying growth Maintain utilisation % Simplify operating model Strong cash conversion in Cyber Security to generate efficiencies Smart pricing and margin En
Slide 11: Escode Revenue and Adjusted EBITDA
Escode Revenue and Adjusted EBITDA Audited Year Ended 30 September 2025 Revenue by region Full Year 2025 regional YoY Revenue by service line Full Year 2025 service line YoY constant currency growth constant currency growth Constant currency Constant currency UK +5.0% Escrow contracts +1.2% North Am
Slide 12: Cyber Security LFL Revenue and Adjusted EBITDA
Cyber Security LFL Revenue and Adjusted EBITDA Audited Year Ended 30 September 2025 LFL Revenue by region 2 Full Year 2025 regional YoY Trajectory constant currency LFL growth Constant currency UK & APAC (0.6%) • LFL revenue decreased by 4.0% on constant North America (12.9%) currency basis 69.0 69.
Slide 13: Cyber Security LFL Revenue by Capability
Cyber Security LFL Revenue by Capability Audited Year Ended 30 September 2025 LFL Trajectory LFL Revenue by capability Full Year 2025 regional YoY • High recurring Managed Services (MS) now accounts Constant currency constant currency LFL growth for 32% of all Cyber revenue TAS (15.0%) C&I +16.6% •
Slide 14: Net debt (exc. lease liabilities) now cleared
Net debt (exc. lease liabilities) now cleared Supporting strategic options for capital allocation and value enhancing M&A 60.0 56.3 40.0 (3.3) (2.0) 13.1 20.0 (19.0) 0.2 (5.8) Net debt (£m) 0.0 1.2 38.7 (20.0) (7.9) (40.0) (45.3) (60.0) (80.0) Operating cash inflow Lease payments Finance costs Divid
Slide 15: FY26 Financial framework
FY26 Financial framework Sustainable Improved Efficiency Capital Deployment Revenue Growth Gross Margin For Growth Supporting Growth Deliver underlying growth Increase Cyber utilisation Simplify operating model in Strong cash conversion in Cyber Security from 70% to 75% Cyber and Escode to generate
Slide 16: Building on the foundations
Building on the foundations Mike Maddison Chief Executive Officer NCC Group plc classification: Public
Slide 17: Unlocking our Cyber potential
Unlocking our Cyber potential Strategic inflexion point A pivotal year Driving growth 2023 FY2025 2026+ Unified global business with Delivering a full-circle Cyber Operating isolated boutiques ongoing alignment of tech-stack, service to our clients through a pricing and backend talented global deliv
Slide 18: Continuing our FY25 areas of focus into FY26
Continuing our FY25 areas of focus into FY26 Sales transformation Further simplifying the Driving more efficiency business by exploiting the through the application of global operating model technology • Investing in Go-To-Market (GTM) • Manila office growth • Tech deployed to automate • End-to-end
Slide 19: Delivering on our strategy will drive the following outcomes
Delivering on our strategy will drive the following outcomes Consulting & Recurring revenue grows Implementation (C&I) through a focus Renowned as a global connects services leader in regulatory and on Managed Services and and capabilities to solve ‘as a service’ cyber complex testing client’s compl
Slide 20: Outlook
Outlook Mike Maddison Chief Executive Officer NCC Group plc classification: Public
Slide 21: Outlook
Outlook… • Confident in our strategy and the medium-term growth prospects for both businesses • We expect Cyber Security to return to revenue growth in FY26, while Escode is projected to deliver low single-digit growth • Adjusted EBITDA (excluding non-core disposals) to be in line with Board’s expec
Slide 22: Questions
Questions NCC Group plc classification: Public
Slide 23: Disclaimer
Disclaimer This presentation, including a hard copy of these slides, the talks given by the presenters, the information communicated during any delivery of the presentation and any question and answer session and any document or material distributed at or in connection with the presentation (togethe