Adesso Se · XETR:ADN1
Adesso — Q2 2026 Earnings Presentation
40 slides from Adesso's earnings presentation, Aug 14, 2026
Slide 1: Investor Presentation
Investor Presentation 08/2026
Slide 2: About adesso
About adesso adesso is optimising the core business processes of enterprises by providing consulting services and building tailor-made software and industry solutions. 2 08/2026
Slide 3: Profitable Growth
Profitable Growth €1.47 €1.60-1.70 billion billion Group sales 2025 Expected sales 2026 More than 11,500 10.3% Employees Return on Equity (5Y average) adesso Group | as of 30 June 2026 3 08/2026
Slide 4: Our Portfolio
Our Portfolio business IT Services (> 90% of Sales) Business Software IT Consulting IT Management Consulting Development Strategy > Process Process > Architecture Architecture > Application Application > Operation IT Solutions Industry Solutions technology 4 08/2026
Slide 5: Equity Story
Equity Story 01 adesso will expand to form one of the leading integrated IT companies for sector-specific business processes in Europe From development to goals 02 adesso has an ambitious growth strategy and aims to grow by at least twice the rate of the market (plus M&A) 03 adesso aims to have a su
Slide 6: Growth Model
Growth Model Tried-and-tested model for expanding sector-wide presence Transfer of model to new sectors: CONSULTING DEVELOPMENT SOLUTIONS > Start a new core sector every 2-3 years INSURANCE > Latest additions: Retail, Utilities BANKS HEALTH Regional expansion PUPLIC AUTHORITIES AUTOMOTIVE Creation o
Slide 7: Close to our clients and people: We’re located where the projects take place.
Close to our clients and people: We’re located where the projects take place. Borås Helsinki Gothenburg Stockholm Växjö Kiel Stralsund Malmo Neumuenster Rostock Nieuwegein Hamburg Bremen London Berlin Brussels Budapest Hanover Muenster Bucharest International & SmartShore Milan Essen Paderborn Sofia
Slide 8: Sustained sales growth of ~22 % p.a. Operating profit up ~24 % p.a.
Sustained sales growth of ~22 % p.a. Operating profit up ~24 % p.a. 8 08/2026
Slide 9: Organic Growth
© Organic Growth Organic Growth vs. Acquisition (in EUR m) 1,500 1,250 1,000 750 500 250 0 Ce) S \x fo XS sf Na sf © “ er fF FP YS mPrevious Year mOrganic mAcquisition * Restated value Organic Growth vs. Acquisition (in %) 50 40 30 20 10 SN) 07 Ce) “~ “\' “ = ~ ‘S) S) 17 x sv VJ \x s S) S Sv Ne so e
Slide 10: Business Model
Business Model Innovation Growth Margin Portfolio Expansion Grow each sector Utilisation New business models Enter new sectors Daily rates EPS/Dividend Product business Project efficiency International business License & Maintenance Recruiting Costs/changes per FTE: - Personnel to daily rates M&A -
Slide 11: Spotlight: adesso Smartshore
Spotlight: adesso Smartshore Romania On the way to becoming a global shoring player. > Founded in 2022 | German- and English-speaking project teams A nearshore presence in five countries, coupled with offshore growth in India (+286% year-on-year, from 80 to Bulgaria over 300 employees) as a lever fo
Slide 12: Spotlight: Major strategic contract – adesso insurance solutions
Spotlight: Major strategic contract – adesso insurance solutions Executive Summary Scope of services > One of Germany’s top three insurers has commissioned adesso > Contract for the migration project, for adesso in|sure licences to implement a joint ‘life’ programme to migrate over 5 million and for
Slide 13: Agentic development & modernisation
: Agentic development & modernisation Smart Cycle for our AI-enhanced Lightweight Software Engineering Human Activity Specify ‘why’ and ‘what’ is to be built Project team Validation System Acceptance test requirements Validation System design System test 2-4 Days Human Artefacts Architecture Validat
Slide 14: Update HY1 2026
Update HY1 2026 14 08/2026
Slide 15: Strong Organic Growth
Strong Organic Growth Sales growth split 13% organic growth Headcount 9% growth in average FTE 15 08/2026
Slide 16: Sales Split HY1 2026
Sales Split HY1 2026 Sales by industry in EUR m HY1 2026 Δ yoy Recap 2025 Insurance 115.0 + 22% + 20% Banking 88.8 + 14% + 9% Health* 76.1 + 11% + 46% Public 119.9 + 10% + 11% Automotive 23.2 - 16% - 4% Manufacturing* 100.4 + 12% + 3% Retail 47.5 + 15% + 6% Utilities 94.0 + 32% + 24% Cross Industrie
Slide 17: Sales Split HY1 2026 (2)
Sales Split HY1 2026 (2) Sales by region in EUR m HY1 2026 Δ yoy Recap 2025 Germany 661.5 + 12% + 15% Switzerland 69.3 + 16% - 3% Austria 21.2 + 13% + 27% Netherlands 7.8 - 2% + 14% Italy 10.2 + 14% + 28% Turkey 8.2 - 7% + 4% Other 16.2 + 55% + 20% 17 08/2026
Slide 18: Progress with operating earnings EBITDA
Progress with operating earnings EBITDA Operating Earnings > Strong organic sales growth > Increase of material costs > Personnel costs grew in line with gross profit > Other operating expenses grew disproportionately lower than sales > Higher EBITDA-contribution (EUR 8.0 million) 18 08/2026
Slide 19: EBITDA margin slightly improved
EBITDA margin slightly improved Key Figures in EUR m HY1 2026 HY1 2025 Δ yoy Employees (FTE, avg.) 11,484 10,550 + 9% Sales 794.3 704.6 + 13% Gross Profit 663.3 593.1 + 12% Personnel costs 550.6 493.7 + 12% Other operating expenses 81.1 79.1 + 3% EBITDA 45.8 37.8 + 21% EBITDA-margin (%) 5.8 5.4 Prof
Slide 20: EPS improved and higher EBITDA
EPS improved and higher EBITDA Key Figures in EUR m HY1 2026 HY1 2025 Δ yoy EBITDA 45.8 37.8 + 21% Depreciation plant & equipment - 34.9 - 31.3 + 11% Depreciation ppa - 3.1 - 3.7 - 15% Depreciation goodwill - 2.1 0.0 - Income from investments - 2.0 - 1.4 - 43% Financial result - 6.2 - 5.3 - 17% EBT
Slide 21: Net Working Capital growth slowed in Q2 2026
Net Working Capital growth slowed in Q2 2026 Key Figures in EUR m 30.06.2026 30.06.2025 Δ yoy Cash 49.2 44.9 + 4.3 Return on Net Working Financial debt 204.4 187.9 + 16.5 Capital (RONWC) = 20.6% Net-Debt - 155.3 - 143.0 - 12.2 Operating Cash-Flow - 28.1 - 38.7 + 10.6 Net Working Capital 259.8 213.8
Slide 22: Cash Flow Development
Cash Flow Development Cash Flow in EUR m HY1 2026 HY1 2025 Δ yoy Operating Cash Flow - 28.1 - 38.7 + 27% CAPEX - 18.5 - 21.6 - 14% FCF LTM per Share: EUR 2.04 Lease Repayments - 22.3 - 20.5 + 9% Free Cash Flow - 68.9 - 80.8 + 15% * Factoring at EUR 59.5 million as of 30 June, compared to EUR 60.0 mi
Slide 23: Why omni:us — building AI into the operating core of P&C insurance
Why omni:us — building AI into the operating core of P&C insurance omni:us adds proven, production-grade Insurance AI to adesso’s P&C platform business. OUR STRONG FOUNDATION THE SHIFT WHY omni:us adesso insurance solutions bundles > AI will be an active component of core > 10 years specialised Insu
Slide 24: Scaling omni:us: Combining proven Insurance AI with adesso’s platforms
Scaling omni:us: Combining proven Insurance AI with adesso’s platforms, customer base and delivery reach Decision Settlement P&C CLAIMS OPERATING MODEL VALUE LEVERS — SEQUENCED Loss Claims Convert the existing joint pipeline into Notification › Assessment › Decision › Settlement NEAR referenceable w
Slide 25: Guidance
Guidance Guidance 2026 > Ongoing market demand in IT Services despite weak macroeconomic environment > Making use of AI demand and AI supported development processes > Stabilised utilisation and continued reduced hiring speed > Improved profitability, supported by two additional working days > Utili
Slide 26: Many Thanks!
Many Thanks! adesso SE Michael Knopp Member of the Executive Board Adessoplatz 1 44269 Dortmund Germany T +49 231 7000-7000 www.adesso-group.de/en/
Slide 27: Appendix
— Appendix 27 Cc) _ 08/2026
Slide 28: References
arvato BERTELSMANN andsafe Oartesan | Bundesamt “AS | fur Sicherheit in der Informationstechnik ) *® J Beschattunasame MBS | ies Bundesministeriums des Innern BARMER [| 4? BayerntB BS|ENERGY Wir finanzieren Fortschritt. BIG direkt gesund ff — BUNDES. DRUCKEREI! EINFACH. MENSCHLICH. ye aN p DEUTSCHE
Slide 29: Key Figures (Financial Year)
Key Figures (Financial Year) in EUR k 2019 2020 2021 2022 2023 2024 2025 Profit Situation Sales revenues 449,704 523,375 678,324 900,253 1,135,903 1,285,945 1,465,782 domestic 360,987 413,053 550,232 744,178 930,561 1,062,000 1,225,680 foreign 88,717 110,322 128,092 156,075 205,342 223,945 240,102 E
Slide 30: Key Figures (Quarters)
Key Figures (Quarters) in EUR k Q3/2024 Q4/2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Q2/2026 Profit Situation Sales revenues 330,230 324,646 351,249 353,339 370,935 390,259 398,091 396,176 domestic 274,256 265,104 293,333 296,366 308,329 327,652 331,445 330,019 foreign 55,974 59,542 57,916 56,973
Slide 31: Restatement
Restatement Balance Sheet in EUR m, Income Statement in EUR m, Reported Δ Adjusted Reported Δ Adjusted as of 31 December 2024 as of 31 December 2024 Intangible Assets 38.4 +10.8 49.2 Sales revenues 1,297.0 -11.0 1,285.9 Deferred tax assets 19.0 -6.8 12.2 Own work capitalised 5.6 +6.8 12.4 Contract a
Slide 32: Shareholder Structure
Shareholder Structure Shareholder Structure Shareholders 32 08/2026
Slide 33: The share
The share > Market Cap: EUR 329.7 million as at 30 June 2026 > Share price: EUR 50.50 as at 30 June 2026 > Average Analyst Price Target: EUR 103.33 > Free Float: 47.9 % 33 08/2026
Slide 34: adesso share: basic data
adesso share: basic data ISIN Code DE000A0Z23Q5 WKN (national securities identification number) A0Z23Q Symbol / Code ADN1 Reuters Instrument Code ADNGk.DE Bloomberg Symbol ADN1:GR First day of trading 21 June 2000 Trading platforms Xetra, Tradegate Exchange Market Segment Prime Standard Number of Sh
Slide 35: Shareholdings
© Shareholdings adesso’s national companies or branch offices Austria Vienna | 100% Belgium Brussels | 100 % Bulgaria Sofia | 100 % Finland Espoo/Helsinki | 100 % Greece Athens | 51% adesso SE Dortmund Hungary Budapest | 100 % India Cochin | 100 % Italy Milan | 1009 Netherlands Am Romania Bucharest
Slide 36: Executive Board (1)
Executive Board (1) Mark Lohweber CEO Mark Lohweber (born 1969) is a member of the Executive Board and is responsible for the operational business in the Banking and Insurance sectors as well as international business, including nearshoring and offshoring. As a member of the Executive Board, he is a
Slide 37: Executive Board (2)
Executive Board (2) Michael Knopp Member of the Executive Board Michael Knopp (born 1966) is a member of the Executive Board and is responsible for the central areas of Finance, Investor Relations and Mergers & Acquisitions. Additionally, he is responsible for the investment adesso ventures GmbH. Mi
Slide 38: Supervisory Board
Supervisory Board Prof. Dr. Volker Gruhn Co-founder of adesso, professor for Software Engineering Chairman and Chairman of the Nomination Commitee Christoph Junge Group CFO of UNITY Management GmbH and part of the Six members with Chairman of the Audit Committee management team. The company is the p
Slide 39: Important Dates 2026
Important Dates 2026 Date Event 2026-03-31 Publication of the 2025 annual report, financial press/analyst conference 2026-05-11 Publication of the Quarterly Statement Q1 2026 2026-05-12 Spring Conference 2026, Frankfurt/Main 2026-06-03 Regular ASM, Dortmund 2026-06-08 Dividend payment 2026-06-16 Roa
Slide 40: Many Thanks!
Many Thanks! adesso SE Michael Knopp Member of the Executive Board Adessoplatz 1 44269 Dortmund Germany T +49 231 7000-7000 www.adesso-group.de/en/