Circle Spa · MIL:CIRC

Circle Spa — Investor Presentation (November 2023)

26 slides from Circle Spa's investor presentation, Nov 28, 2023

1. Slide 1: Connect 4 Agile Growth - Investor Presentation

   CONNECT 4 AGILE GROWTH November, 28th 2023 INVESTOR PRESENTATION Copyright Circle Group 2023 – All rights reserved

2. Slide 2: CIRCLE Group overview

   CIRCLE Group overview Highlights CIRCLE Group is an international player specialised in the analysis and development of innovative digitization solutions for port and intermodal logistics and in international consultancy with focus on Green Deal and energy transition headed by CIRCLE S.p.A. Since Mo

3. Slide 3: Corporate overview - Group Structure

   Corporate overview Group Structure Optimisation Intermodal Logistics Rail undertaking solutions Ports / Maritime Complementary technologies / Digital Transport Document (e-CMR) EU Consultancy business CPM & Digital Twin Gate Automation Operative Human Resources EU Consultancy Air cargo integrated IT

4. Slide 4: Connect Agile Growth to a Federated Supply Chain

   Connect 4 Agile Growth to a Federated Supply Chain -... Mobile APP for Crane Gate & Equipment Automation Optimisation ae... & Digital Twin Transport Federative Platform Or sale Digital Customs & lachine Learning Rail Management ( Freight Forwarders Global Supply Chain Visibility Transport Appointmen

5. Slide 5: Financials: 2012-2022 Group revenues

   Financials: 2012-2022 Group revenues 11.000 10.000 9.000 Group Revenues 8.000 7.000 25% 2022 € 10.9 mln 6.000 5.000 4.000 3.000 2.000 1.000 - 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Green numbers are related to Systematic M&A; Info.era (acquisition 01.01.2018), Progetto Adele (acquisi

6. Slide 6: Financials: 2018-2022 Group EBITDA

   Financials: 2018-2022 Group EBITDA EBITDA margin 2022: 18% 2.000.000 Group EBITDA 1.800.000 1.600.000 2022 € 2 mln 1.400.000 1.200.000 1.000.000 800.000 2018 2019 2020 2021 2022 *2019-2020-2021 Adjusted EBITDA Copyright Circle Group 2023 – All rights reserved

7. Slide 7: Products: revenues evolution 2022

   Products: revenues evolution 2022 Proprietary platforms revenues 1.800.000 1.600.000 1.400.000 1.200.000 1.000.000 800.000 600.000 400.000 200.000 - 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 SAAS and PPU model for proprietary product revenues 2022 vs 2021 Proprietary Platform Revenues M

8. Slide 8: CIRCLE Group H1 2023

   CIRCLE Group H1 2023 30/06/2023 Var % CIRCLE Group revenues € 7.2 mln +37% Proprietary software products € 2 mln +145% Milos Federative Services € 0.5 mln +387% CIRCLE S.p.A. revenues € 3.9 mln +64% EBITDA € 2 mln +128% EBIT € 1.51 mln +244% Net profit € 1.13 mln +226% Cash + NFP (cash positive) = €

9. Slide 9: Products: revenues evolution H1 23

   Products: revenues evolution H1 23 H1 2023 vs H1 2022 Proprietary Platform Revenues MILOS® (first of all MILOS®) +145% Copyright Circle Group 2023 – All rights reserved

10. Slide 10: Detailed revenues split: H1 2023

    Detailed revenues split: H1 2023

11. Slide 11: CIRCLE Group Financial Highlights Q3 2023

    CIRCLE Group Financial Highlights Q3 2023 30/09/2023 Var % CIRCLE Group revenues € 9.3 mln +27 % Proprietary software products € 2.6 mln +131 % Milos® Federative Services € 0.7 mln + 357% CIRCLE S.p.A. revenues € 4.6 mln + 36% Copyright Circle Group 2023 – All rights reserved

12. Slide 12: Optimisation & Artificial Intelligence

    Optimisation & Artificial Intelligence

13. Slide 13: Strategic guidelines - Development Plan

    Strategic guidelines Development Plan PRODUCT NEXT GEOGRAPHICAL SYSTEMATIC EVOLUTION GENERATION EXPANSION M&As EU & STRATEGIC • Milos® (Global Supply Chain • Med identified ALLIANCES • 2026 EU Visibility) for investments countries Manufacturing • Central Europe in complementary 4.0 & Customs • GREEN

14. Slide 14: Market size: segments & geography

    Market size: segments & geography CIRCLE Group’s potential market size (worldwide) ≃ €3,6 bln CIRCLE Group’s potential market size (to 2026) ≃ €1.5 bln

15. Slide 15: Optimisation & A.I.

    Optimisation & A.I. Copyright Circle Group 2023 – All rights reserved

16. Slide 16: Rail & Multimodal Last Mile

    Rail & Multimodal Last Mile AI - Optimization - Syncromodal Platforms & Services Copyright Circle Group 2023 – All rights reserved

17. Slide 17: Rail & Multimodal Last Mile

    Rail & Multimodal Last Mile MTO triangulation Required Voyages Management MULTIMODAL TRANSPORT OPERATIONS Customer warehouses specifics TRUCK TRIANGULATION Copyright Circle Group 2023 – All rights reserved

18. Slide 18: Global Supply Chain Visibility Milos GSCV

    Global Supply Chain Visibility Concept and megatrends Copyright Circle Group 2023 – All rights reserved Milos® GSCV

19. Slide 19: 5.0 Eco System

    5.0 Eco System Copyright Circle Group 2023 – All rights reserved

20. Slide 20: Geographical Expansion

    Geographical Expansion International Activities & Projects 2024 «CONNECT 4 AGILE GROWTH» ROADMAP • Development of a presence in some chosen foreign markets (first of all Portugal/Spain, Morocco, Turkey, Egypt, Austria) comparable to the distinctive one that we have in the Italian market • Strenghthe

21. Slide 21: Positioning: Distinctive positioning and competition

    Positioning Distinctive positioning and competition SECTORS SUPPLY CHAIN SECTOR OTHER SECTORS TERMINAL RAIL INDUSTRY PORT ROAD FREIGHT MARITIME MARITIME & & MTO & AIR CUSTOMS FORWARDERS INLAND LOGISTIC PROVIDERS TECHNOLOGY TYPE OF BUSINESS BUSINESS PROCESS REENGINERING & VERTICAL KNOWLEDGE COLLABORA

22. Slide 22: Port Terminal Logistics: M&As, Alliances, Innovation focuses

    M&As, Alliances, Innovation focuses 2018-23 2022-23 Synchromodality Visibility & Demand Planning Document 2020-21 Decision Support Blockchain Customs Import System PORT TERMINAL Corridors Procedures INLAND NODES AI & 2018-19 Augmented Rail Multimodal LOGISTICS Reality Federative Fed Serv appointment

23. Slide 23: Logistics Port Terminal: M&As, Alliances, Innovation focuses

    M&As, Alliances, Innovation focuses 2024-26 2024-26 5g eCustoms mobility 2023 Export/Import Synchromodality Visibility & Predictive Blockchain Demand Planning Document 2020-22 Decision Blockchain Customs Import Support Waste Corridors Procedures System PORT TERMINAL Logistic 2018-19 INLAND NODES AI

24. Slide 24: Business Goals 2026

    Business Goals 2026 Central-South Systematic M&As 2026 Europe and 2025 MED Leader 2024 Predictive & 2023 Product Syncromodal 2022 leadership International (EU) Supply Chain 2021 Predictive AI evolution International (MED) Volume & Margins evolution Multimodal optimisation & Freight As A Service pred

25. Slide 25: Financial focus & stock growth

    Financial focus & stock growth • «Free allocation of shares» - 1 free stock each 10 - May 20th, 2019 • Buy back - now 25.740 own shares (0.64%) • CIRCLE is an Innovative SME • Average monthly volume (from IPO) around € 700.000 (last months more than € 1 mln) Upside from IPO Target Price Upside Oppor

26. Slide 26: Contacts

    Contacts Genoa Trieste Milan Rome Catania Piazza Borgo Pila 40 Via San Nicolò 4 Via Giovanni B. Pergolesi 26 Via Ofanto, 18 SS Primosole Angolo V Strada 16129 Genoa - ITALY 34121 Trieste 20124 Milan 00198 Rome 95100 Catania info@circletouch.eu ITALY ITALY ITALY ITALY Brussels Porto Rond Point Schuma

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