Sesa S.p.a. · MIL:SES
Sesa — Le Eccellenze del Made in Italy (October 2026)
32 slides from Sesa's conference presentation, Oct 1, 2026
Slide 1: Le Eccellenze del Made in Italy
Le Eccellenze del Made in Italy Milan - October 1, 2026
Slide 2: Agenda
Alessandro Fabbroni Agenda Group’s Chief Executive Officer Jacopo Laschetti Head of Stakeholder Relations and Sustainability ▪ Group’s Business Model and Strategy ▪ Group’s Industrial Plan FY 2027-2028 ▪ Group’s Financial Results 1Q 2027 ▪ Annexes Financial Statements 2
Slide 3: Sesa Overview & Key Highlights
Sesa Overview & Key Highlights Leading Digital ▪ Leading player for the digital integration (Technology, Digital Platforms and Vertical Applications) of corporates and Integration organizations: consolidated revenues of Eu 3,621 million and 6,770 people as of April 30 2026; Leading position in Italy
Slide 4: Structural Digitalisation Trends Supporting Sesa’s Market Leadership
Structural Digitalisation Trends Supporting Sesa’s Market Leadership Italian digital market (Eu 84.4bn in 2025) is expected to grow driven by accelerating adoption of AI, Cloud Computing, Cybersecurity, Data Management and Data Centers AI Cloud Computing Cybersecurity Big Data & Analytics Data Cente
Slide 5: AI adoption opportunity
AI adoption opportunity ▪ Italian digital market annual growth expected at 3.6% in 2026-2029 AI Driven ▪ Private and vertical AI deployed within companies own infrastructure and processes Market Growth ▪ Digital investments in transformation, cybersecurity and data governance ▪ Sesa Group growth hig
Slide 6: Sesa Group Strategic Path
New Industrial Plan: Sesa Group Strategic Path moving from a bolt-on M&A approach toward a strategy focused on Organic Growth and Group Transformation as Digital Integrator IBM services, Growth acceleration infrastructure & Var Group Foundation Establishment of Sesa through M&A software System integ
Slide 7: Business Model and Organization
Business Model and Organization Eu 150 m Eu 3.6 bn Eu 260 m # 6,770 # 40,000 Net Cash Revenues EBITDA people clients As of 31 July 2026 The Group operates through Vertical Business Units and Business Platforms Corporate Governance & Corporate Services Revenues 187 Eu 23 mn Corporate services: Group
Slide 8: Experienced Management Team committed to the Group
Experienced Management Team committed to the Group Key people equity and long-term commitment Sesa share capital 15,185,590 ord. shares Sesa Group equity partners focus on long-term development growth: • Chairman and Sesa Founder in 1973 Paolo Castellacci, Vice-Chairman and Sesa partner since Treasu
Slide 9: Group long-term growth path: FY 2026 Actual Results and FY 2027-28 Expected Results
Group long-term growth path: FY 2026 Actual Results and FY 2027-28 Expected Results Sales and other Revenues (Eu mn) EBITDA (Eu mn) EBIT Adjusted1 (Eu mn) 3,992- CAGR 2012-2026 +11.2% 3,802 - 4,200 CAGR 2012-2026 +14.1% CAGR 2012-2026 +13.1% 274 - 288- CAGR 2020-2026 +12.6% 3,892 5.0% - CAGR 2020-20
Slide 10: Proven Value Creation M&A Track Record
Proven Value Creation M&A Track Record 84 M&A transactions completed FY2015–FY2026 ~ Eu 850 million annual revenue added at acquisition date M&A contribution by period FY 2026 focus: selection over volume with sharper focus on strategic fit Bars = number of acquisitions Values below = M&A contributi
Slide 11: Sustainability as a strategic driver and core part of Corporate Vision
Sustainability as a strategic driver and core part of Corporate Vision Purpose to create long-term, sustainable value for all stakeholders promoting innovation, including digital innovation, within businesses and organizations, as well as the well-being of people ESG as a strategic driver and core p
Slide 12: SSI: Software and Digital Integration for European Enterprises
SSI: Software and Digital Integration for European Enterprises Key Financials FY26 At a Glance Business Platforms Customer base People Revenues Leading System Integrator and Software Vertical Business Platform focused on 4,463 Eu 909 mn Solutions provider with growing focus on business applications
Slide 13: Business Services: Digital Platform for Financial Services
Business Services: Digital Platform for Financial Services Key Financials FY26 At a Glance Financial Services and Enterprise Market Presence and Digital Excellence Dual Market Focus: Finance and Enterprise Extensive presence with more than 900 clients; People Revenues Business Services started on Fe
Slide 14: ICT VAS: Added-Value Technology Integration for ICT ecosystems
ICT VAS: Added-Value Technology Integration for ICT ecosystems Key Financials FY26 At a Glance Business Units Customer base People Value-added Technology Integrator and Organized into specialized units managing Revenues 695 Eu 2,255 mn Solutions aggregator, providing consulting, partnerships with ov
Slide 15: Green VAS: Added-Value Technology Integration for Renewable Energy
Green VAS: Added-Value Technology Integration for Renewable Energy Key Financials FY26 At a Glance Financial Evolution Future Expectations Joined the Group in 2021 through the FY2026 marks a year of strong organic The PV market is gradually evolving towards a People Revenues acquisition of PM Servic
Slide 16: Agenda
Alessandro Fabbroni Agenda Group’s Chief Executive Officer Jacopo Laschetti Head of Stakeholder Relations and Sustainability ▪ Group’s Business Model and Strategy ▪ Group’s Industrial Plan FY 2027-2028 ▪ Group’s Financial Results 1Q 2027 ▪ Annexes Financial Statements 16
Slide 17: Group Industrial Plan FY 2027-2028 Strategic Targets
Group Industrial Plan FY 2027-2028 Strategic Targets1 ▪ Group evolution as digital integrator, combining technology, digital platform and vertical applications, to enable the digital Group transformation and AI adoption of companies and organizations Business ▪ Focus on organic growth on core busine
Slide 18: Industrial Plan FY 2027-FY 2028
Industrial Plan FY 2027-FY 2028 Eu million FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 251 FY26 FY 27E FY 28E Revenues 1,363.0 1,551.0 1,776.0 2,037.4 2,389.9 2,907.6 3,210.4 3,356.8 3,620.8 3,802.0 - 3,892.0 3,992.0 - 4,184.0 Change Y/Y 13.8% 14.5% 14.7% 17.3% 21.7% 10.4% 4.6% 7.9% 5.0% - 7.5% 5.0
Slide 19: Agenda
Alessandro Fabbroni Agenda Group’s Chief Executive Officer Jacopo Laschetti Head of Stakeholder Relations and Sustainability ▪ Group’s Business Model and Strategy ▪ Group’s Industrial Plan FY 2027-2028 ▪ Group’s Financial Results 1Q 2027 ▪ Annexes Financial Statements 19
Slide 20: Group’s actual results 1Q 2027 as of July 31, 2026
Group’s actual results 1Q 2027 as of July 31, 2026 CAGR CAGR Eu million FY 2020 FY 2026 1Q 26 1Q 27 Variance FY12-26 FY20-26 Revenues 1,776.0 3,620.8 11.2% 12.6% 845.7 901.1 6.5% Ebitda 94.5 260.4 14.1% 18.4% 60.7 65.3 7.6% Ebitda Margin 5.3% 7.2% 7.2% 7.2% EBIT Adj1 70.0 197.5 13.1% 18.9% 47.3 50.2
Slide 21: 1Q 2027 Group’s actual results by Sector
1Q 2027 Group’s actual results by Sector REVENUES EBITDA GROUP EAT ADJUSTED Eu million 1Q 19 1Q 20 1Q 21 1Q 22 1Q 23 1Q 24 1Q 25 1Q 26 1Q 27 1Q 19 1Q 20 1Q 21 1Q 22 1Q 23 1Q 24 1Q 25 1Q 26 1Q 27 1Q 19 1Q 20 1Q 21 1Q 22 1Q 23 1Q 24 1Q 25 1Q 26 1Q 27 Software System Int. 82.2 95.0 106.3 129.5 153.2 18
Slide 22: FY 2026 Group’s results by Sector
FY 2026 Group’s results by Sector REVENUES EBITDA GROUP EAT ADJUSTED 1 1 Eu million FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY26 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY26 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 251 FY26 Software & System Integ. 343.0 396.3 481.9 572.2 702.6 822.8 875.7 908.8 2
Slide 23: Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) April 2020-July 2026
Group Financial Results (NFP, IFRS 16, IFRS 3 and NWC) April 2020-July 2026 Net Financial Position (April 2020 – July 2026) Oct24 The table opposite presents the Currency: €'m Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Pro- Apr25 Jul25 Oct25 Apr26 Jul26 Net Financial Position reported for
Slide 24: NFP reported (incl. IFRS) bridge from July 31, 2025 to July 31, 2026
NFP reported (incl. IFRS) bridge from July 31, 2025 to July 31, 2026 As of July 31, 2026, Net Financial Position (NFP) excluding IFRS debts amounts to Eu 149.8 million (net cash), compared to Eu 148.8 million as of July 31, 2025. After accounting for IFRS liabilities of Eu 173.3 million, the reporte
Slide 25: Agenda
Agenda ▪ Group’s Business Model and Strategy ▪ Group’s Industrial Plan FY 2027-2028 ▪ Group’s Financial Results 1Q 2027 ▪ Annexes Financial Statements 25
Slide 26: Group Reclassified Income Statement 1Q 2021-1Q 2027
Group Reclassified Income Statement 1Q 2021-1Q 2027 1Q22 vs 1Q23 vs 1Q24 vs 1Q25 vs 1Q26 vs 1Q27 vs Currency: €'m 1Q 21 1Q 22 1Q 23 1Q 24 4Q 24 1Q 251 1Q26 1Q27 1Q21 1Q22 1Q23 1Q24 1Q25 1Q26 Net revenue 484.2 547.8 663.7 767.5 796.2 812.6 829.1 886.7 13.1% 21.2% 15.6% 5.9% 2.0% 6.9% Other income 3.6
Slide 27: Group Reclassified Income Statement FY 2020-26
Group Reclassified Income Statement FY 2020-26 FY21 vs FY22 vs FY23 vs FY24 vs FY25 vs FY26 vs Currency: €'m FY20 FY21 FY22 FY23 FY24 FY251 FY26 FY20 FY21 FY22 FY23 FY24 FY25 Net revenue 1,762.6 2,022.5 2,362.6 2,867.7 3,164.5 3,298.2 3,565.3 14.7% 16.8% 21.4% 10.3% 4.2% 8.1% Other income 13.4 14.8
Slide 28: Reclassified Balance Sheet July 31, 2020 - July 31, 2026
Reclassified Balance Sheet July 31, 2020 - July 31, 2026 Currency: €'m Jul20 Jul21 Jul22 Jul23 Jul24 Jul25 Jul26 Intangible assets 102.3 171.5 259.7 417.1 490.7 532.6 530.5 Property, plant and equipment (IFRS 16 incl.) 88.1 99.7 116.3 129.8 149.2 163.6 170.2 Investments valued at equity 12.1 14.4 15
Slide 29: Reclassified Balance Sheet April 30, 2020 - April 30, 2026
Reclassified Balance Sheet April 30, 2020 - April 30, 2026 Currency: €'m Apr20 Apr21 Apr22 Apr23 Apr24 Apr25 Apr26 Intangible assets 74.3 142.8 228.3 368.5 457.1 531.0 551.1 Of which M&A 66.0 130.0 213.6 350.4 430.9 473.5 498.0 Property, plant and equipment (IFRS 16 incl.) 84.0 99.9 111.9 125.9 149.
Slide 30: Reclassified Income Statement by sector 1Q 2027 vs 1Q 2026
Reclassified Income Statement by sector 1Q 2027 vs 1Q 2026 Eu million 1Q 2027 1Q 2026 Business Corporate & Business Corporate & ICT VAS Green SSI Group ICT VAS Green SSI Group Services Dig. Ecosystem Services Dig. Ecosystem Total Revenues and Other Income 536.9 127.4 212.9 40.8 18.1 901.1 496.8 111.
Slide 31: Reclassified Income Statement by sector FY 2026 vs FY 2025
Reclassified Income Statement by sector FY 2026 vs FY 2025 Eu million FY 2026 FY 2025 Pro-forma2 Business Corporate & Dig. Business Corporate & Dig. ICT VAS Green SSI Group ICT VAS Green SSI Group Services Ecosystem3 Services Ecosystem3 Total Revenues and Other Income 2,254.7 412.2 908.8 158.5 67.5
Slide 32: www.sesa.it
www.sesa.it This document has been prepared by Sesa SpA (“SeSa” or the “Company”) solely for this presentation and does not represent any investment research, recommendation, consulting or suggestion, concerning the Company or its shares or any other securities/financial instruments issued by the Co
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