Slide 1: FY 2025 Results
FY 2025 Results Ended December 31, 2025 Milan – March 5, 2026
Slide 2: Disclaimer
Disclaimer This company presentation includes forward-looking data based on internal management assumptions that are subject to material changes, including changes due to external factors beyond the Group's control; management data, when presented, are identified as such Business Unit data are divis
Slide 3: Agenda
Agenda Executive Summary & Business Highlights J. Mastragostino | Chief Investor Relations Officer 01 FY 2025 Financial Results 02 O. Pozzi | Group Chief Financial Officer BU Outlook 03 J. Mastragostino | Chief Investor Relations Officer 2026 Guidance & 2026-2028 Business Plan 04 O. Pozzi | Group Ch
Slide 4: Executive Summary & Business Highlights
01 Executive Summary & Business Highlights J. Mastragostino | Chief Investor Relations Officer
Slide 5: Mandatory Tender Offer – A brief timeline of events
Executive Summary & Business Highlights Mandatory Tender Offer – A brief timeline of events Beginning of the Approval of the Offer Acceptance Filing of the Document by Period to end on Offer CONSOB March 20, 2026 Establishment of T-Defence, a Document Completion of the trust aimed at the with CONSOB
Slide 6: Key Group Financial Data
Executive Summary & Business Highlights Key Group Financial Data1 at 31/12/2025 REVENUES EBITDA ADJ. NET PROFIT3 NET PROFIT ADJ.3 €457M €103M -€58M €36M +4% vs PY2 -3% vs PY2 FCF ADJ. 3 NFP4 NFP/EBITDA ADJ. €70M €240M 2.33x +61% vs PY2 vs €322M in FY’245 (1) Please note that FY’25 figures include co
Slide 7: Key Economic and Financial Results
Executive Summary & Business Highlights Key Economic and Financial Results €M Revenues1 EBITDA Adj.1 NFP2 17.6% CAGR ’14-’25 22.4% CAGR ’14-’25 457.1 321.8 440.7 106.0 103.0 103.0 395.8 94.8 264.4 2.33x 357.2 81.2 239.8 76.8 76.5 301.5 269.1 66.6 258.7 239.6 181.0 124.9 129.1 38.9 147.3 104.4 102.0
Slide 8: FY 2025 – Results in line with preview
Executive Summary & Business Highlights FY 2025 – Results in line with preview 1 • Revenues at €457.1M (+3.7% vs PY2) • EBITDA Adjusted at €103.0M (-2.8% vs PY2), with growth in Digital Trust (+5.6%) offset by the contraction in Cybersecurity (-4.0%) and Business Innovation (-15.2%), notwithstanding
Slide 9: FY 2025 Financial Results
02 FY 2025 Financial Results O. Pozzi | Group Chief Financial Officer
Slide 10: Deconsolidation of Tinexta Defence
FY 2025 Financial Results Deconsolidation of Tinexta Defence • Please note FY 2025 Results (as well as comparative figures at FY 2024) are net of contribution from Tinexta Defence Holding S.r.l. (“Tinexta Defence”) and its subsidiaries (collectively the “Defence Group”) in compliance with the prescr
Slide 11: FY 2025 Consolidated Results
FY 2025 Financial Results FY 2025 Consolidated Results1 €M FY 2025 results show Revenues of €456M and EBITDA Adjusted of €103M Slight growth in Revenues vs PY (+3.4%) mainly on an organic basis; EBITDA Adj. -2.8% vs PY Margin Margin EBITDA Adjusted at €103.0M 24.0% 22.6% EBITDA Adjusted margin at 22
Slide 12: Consolidated Results – Income Statement
FY 2025 Financial Results FY 2025 Consolidated Results – Income Statement1 €M FY 2025 WITH ACQUISITIONS LFL 2024 FY’25 % FY’242 % % on 2024 Δ Δ% Δ Δ% FY’25 figures highlight REVENUES3 455.6 100.0% 440.7 100.0% 453.9 100.0% 14.9 3.4% 13.2 3.0% lower charges related to LTI Incentive Plans and Total Op
Slide 13: Consolidated Results – P&L Adjustments
FY 2025 Financial Results FY 2025 Consolidated Results – P&L Adjustments1 €M NET PROFIT/(LOSS) FROM EBITDA OPERATING PROFIT/(LOSS) CONTINUING OPERATIONS FY’25 FY’242 FY’25 FY’242 FY’25 FY’242 REPORTED INCOME STATEMENT RESULTS 90.8 94.4 (68.0) 35.0 (57.9) 41.9 Non-recurring revenues (1.5) 0.0 (1.5) 0
Slide 14: FY 2025 – BU Overview
FY 2025 Financial Results DIGITAL TRUST FY 2025 – BU Overview1 206.6 220.6 €M 65.1 68.8 GROUP 2 2 FY 2024 FY 2025 FY 2024 FY 2025 Revenues EBITDA Adjusted CYBERSECURITY 92.0 89.3 Margin Margin 24.0% 22.6% 13.0 12.5 2 2 FY 2024 FY 2025 FY 2024 FY 2025 440.7 455.6 Revenues EBITDA Adjusted BUSINESS INN
Slide 15: FY 2025 – Digital Trust
FY 2025 Financial Results FY 2025 – Digital Trust1 €M Margin Margin 31.5% 31.2% 206.6 220.6 65.1 68.8 FY 2024 FY 2025 FY 2024 FY 2025 Revenues EBITDA Adjusted • Revenues amounted to €220.6M, up 6.8% vs PY on an organic basis. Growth was driven by LegalMail solutions (+3%) – especially in the Public
Slide 16: FY 2025 – Cybersecurity
FY 2025 Financial Results FY 2025 – Cybersecurity1 €M Margin Margin 14.1% 13.9% 92.0 89.3 13.0 12.5 2 2 FY 2024 FY 2025 FY 2024 FY 2025 Revenues EBITDA Adjusted • Revenues amounted to €89.3M, down 2.9% vs PY. The contraction in revenues is mainly attributable to the Services component, in both Techn
Slide 17: FY 2025 – Business Innovation
FY 2025 Financial Results FY 2025 – Business Innovation 1 €M Margin Margin 156.2 29.1% 24.0% +1.7% 1.9 151.7 154.3 37.4 0.5 44.2 36.8 2 2 FY 2024 FY 2025 FY 2024 FY 2025 Revenues EBITDA Adjusted LFL 2024 Δ Acquisitions • Revenues amounted to €156.2M, up 2.9% vs PY. Organic growth (+1.7%) was driven
Slide 18: FY 2025 Results – Balance Sheet
FY 2025 Financial Results FY 2025 Results – Balance Sheet 1 €M -25.5% -25.5% -25.5% 783.2 461.4 321.8 583.6 343.8 239.8 2 FY 2024 FY 2025 FY 20242 FY 2025 FY 20242 FY 2025 NET INVESTED CAPITAL NET FINANCIAL POSITION TOTAL SHAREHOLDERS’ EQUITY Net Invested Capital down by €199.6M vs FY 2024 mainly du
Slide 19: FY 2025 Results – NFP & FCF
FY 2025 Financial Results 1 FY 2025 Results – NFP & FCF €M 70.4 10.7 43.7 Non-recurring components 10.5 Free Cash Flow of Continuing 59.7 Operations 321.8 33.2 239.8 FY 2024 2 FY 2025 FY 2024 2 FY 2025 NET FINANCIAL POSITION ADJUSTED FCF FROM CONTINUING OPERATIONS FCF Adj. from cont. ops. +€70.4M Th
Slide 20: FY 2025 Results – NFP Bridge
FY 2025 Financial Results €M FY’25 Net Debt does not include the potential impact from the exercise of the FY 2025 Results – NFP Bridge 1 Put Adj. ABF (12.1) Call Option on Bregal Milestone’s stake in Put Adj. Ascertia (7.2) Tinexta Infocert (16.09%). The closing of Put Adj. Lenovys (2.4) the transa
Slide 21: BU Outlook
03 BU Outlook J. Mastragostino | Chief Investor Relations Officer
Slide 22: Digital Trust – BU Snapshot
BU Outlook Digital Trust – BU Snapshot 1 Revenues EBITDA Adj. Margin EU REGULATORY FRAMEWORK, DEVELOPING TECHNOLOGY & MACRO CONEXT Tinexta boasts one of the largest Qualified Trust Service Providers in Europe (Tinexta SUPPORTING MARKET EXPANSION FY’252 € 221M €69M 31% Infocert), with Group companies
Slide 23: Cybersecurity – BU Snapshot
BU Outlook Cybersecurity – BU Snapshot1 Revenues EBITDA Adj. Margin CYBER (SECURITY SOLUTIONS) DIGITAL (TECHNOLOGY SOLUTIONS) FY’252 €89M €13M 14% Stable vs PY -3% -4% Services Proactive cyber defense systems, crisis management, control and Services Software maintenance and update, System Integratio
Slide 24: Business Innovation – BU Snapshot
BU Outlook Business Innovation – BU Snapshot 1 Revenues EBITDA Adj. Margin Subsidized Finance Programs in TIH’s Reference Markets FY’252 €156M €37M 24% The Advisory Business Line ITALY - Estimate of allocated funds to Industry 4.0 and 5.0 to Lower 2029 with deductible rates trend (2021-2025) EXPANSI
Slide 25: 2026 Guidance & 2026-2028 Business Plan
04 2026 Guidance & 2026-2028 Business Plan O. Pozzi | Group Chief Financial Officer
Slide 26: FY 2026 – Group & BU Targets
2026 Guidance & 2026-2028 Business Plan FY 2026 – Group & BU Targets1 DIGITAL TRUST REVENUES EBITDA ADJ. GROUP +4-6% +6-8% ~ +1 pp expected margin improvement vs PY vs PY REVENUES +3-4% CYBERSECURITY vs PY REVENUES EBITDA ADJ. EBITDA ADJUSTED +2-4% +15-17% ~ +2 pp expected margin improvement vs PY +
Slide 27: 2026-2028 Business Plan – Group Targets
2026 Guidance & 2026-2028 Business Plan 2026-2028 Business Plan – Group Targets1 KEY ASSUMPTIONS REVENUES Strengthen leadership positioning in reference markets, promoting +3-5% a wide product and service offering CAGR ‘25-’28 Invest in innovation and in the development of new products and EBITDA AD
Slide 28: 2026-2028 Business Plan – BU Targets
2026 Guidance & 2026-2028 Business Plan 2026-2028 Business Plan – BU Targets1 Revenues EBITDA Adj. Further the innovation strategy within the product portfolio and strong business model leveraging on solid technological platforms DIGITAL +5-7% +7-9% over 1 pp expected margin improvement Focus on int
Slide 29: tinexta
tinexta
Slide 30: Thanks.
Thanks. www.tinexta.com Investor Relations Contacts Presentation Piazzale Flaminio 1/B E-mail: info@tinexta.com Josef Mastragostino Download the presentation Roma, 00196, Italy tinexta@legalmail.it Chief Investor Relations Officer Tel. +39.06.42012631 LinkedIn: Tinexta investor@tinexta.com