Slide 1: 2025 full-year results
QUADIENT 2025 full-year results 25 March 2026 © 2026 Quadient. All rights reserved. 1
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING STATEMENT This presentation contains forward-looking statements, estimates, opinions and projections with respect to anticipated future performance of Quadient SA (the “Company”). These forward-looking statements can be identified by the use of forward-looking terminology,
Slide 3: Agenda
Agenda 01 FY 2025 Highlights 04 FY 2025 Group financials 02 FY 2025 Key financials 05 Conclusion 03 FY 2025 Business review © 2026 Quadient. All rights reserved. 3
Slide 4: FY 2025 Highlights
Geoffrey Godet Chief Executive Officer 01 FY 2025 HIGHLIGHTS © 2026 Quadient. All rights reserved. 4
Slide 5: Accelerated momentum in anticipated market trends
Accelerated momentum in anticipated market trends ▪ Rapid advances in AI leading to faster digitalization and reinforcing long-term demand for software solutions ▪ E-invoicing mandates with first regulatory deadlines approaching (France, Sept. 2026), and expanding in Europe (UK, 2029) ▪ Structural d
Slide 6: Quadient uniquely positioned to leverage these accelerating trends
Quadient uniquely positioned to leverage these accelerating trends Now scaling up execution ▪ Best in class Digital automation platform, recognized for leadership ▪ Expanding use of AI-powered capabilities across our - #1 global market share (IDC) and customer base recognized for AI maturity (QKS) i
Slide 7: Strengthened leadership around Digital automation platform
Strengthened leadership around Digital automation platform EXECUTIVE LEADERSHIP TEAM Since 23 February 2026 DIGITAL MAIL Lilac Schoenbeck Nicole Dwyer Stéphanie Auchabie Jean-Dominique Condé Geoffrey Godet Duncan Groom SVP Product SVP Sales & Operations SVP Sales & Operations VP Revenue Chief Execut
Slide 8: Transition to a streamlined, business-aligned organization in final stages
Transition to a streamlined, business-aligned organization in final stages PREVIOUS NEW Quadient SA Quadient SA Country A Country B Entity A Entity B Mail Digital Lockers Entity 1 Entity 1 Entity 1 Entity 1 Entity 2 Entity 2 © 2026 Quadient. All rights reserved. 8
Slide 9: Key financials
Laurent du PASSAGE Chief Financial Officer 02 FY 2025 KEY FINANCIALS © 2026 Quadient. All rights reserved. 9
Slide 10: Revenue growth acceleration and EBITDA margin expansion in Digital and Lockers
Revenue growth acceleration and EBITDA margin expansion in Digital and Lockers, while Mail profitability remains resilient Digital QUADIENT ▪ Strong revenue growth of 8.0% - Double-digit growth in subscription-related ▪ Revenue at €1,036m, -3.2% organic revenue, with acceleration in Q4 - Booking acc
Slide 11: Digital and Lockers deliver solid growth in FY 2025 with strong performance in Q4
Digital and Lockers deliver solid growth in FY 2025 with strong performance in Q4 CHANGE IN REVENUE (in €m) +8.0% -5.2% +22 2025 REPORTED CHANGE 1,093 +16 -70 +11.4% +12 -37 1,036 -9.5% -3.2% ORGANIC CHANGE FY 2024 Scope Digital Mail Lockers Currency FY 2025 revenue effect(1) effect(2) revenue Organ
Slide 12: Digital and Lockers acceleration fuels continued expansion of subscription-related revenue
Digital and Lockers acceleration fuels continued expansion of subscription-related revenue business model REVENUE SUBSCRIPTION-RELATED BREAKDOWN REVENUE BY SOLUTION (in €m) organic change in SRR (in % of total revenue) +0.5% 777 762 739 745 1,036 673 975 658 Non-subscription- 26% Mail related revenu
Slide 13: High operating leverage from Digital and Lockers partially offset Mail headwinds
High operating leverage from Digital and Lockers partially offset Mail headwinds CHANGE IN CURRENT EBIT (in €m) -2.2% +8 2025 ORGANIC CHANGE 146 0 -20 +3 -8 +6 135 Organic change in EBITDA FY 2024 Scope Digital Mail Lockers Organic Currency FY 2025 current EBIT effect(1) change in change in change i
Slide 14: Business review
Geoffrey Godet Chief Executive Officer Laurent du Passage Chief Financial Officer 03 FY 2025 BUSINESS REVIEW…………….. © 2026 Quadient. All rights reserved. 14
Slide 15: ARR up more than 2x to €250m and sharp EBITDA margin expansion
Digital ARR up more than 2x to €250m and sharp EBITDA margin expansion over past 5 years Quarterly Digital revenue EBITDA (in €m, % share of SRR, SRR CAGR 2020-2025) (in €m, % EBITDA margin) 35 21% 21.0% SRR CAGR 19% 30 +17% 76 30 16% 73 26 15% 66 63 66 65 67 70 69 14% 16.0% 61 58 61 60 25 13% 13% 5
Slide 16: AI at Quadient: reinforcing a durable, mission-critical business
Digital AI at Quadient: reinforcing a durable, mission-critical business QUADIENT: THE TRUSTED EXECUTION HOW AI STRENGTHENS QUADIENT’S LAYER WHERE AI MUST INTEGRATE MISSION ▪ Mission-critical workflows in regulated industries ▪ Reinforces Quadient’s structural barriers - Control, auditability, compl
Slide 17: AI capabilities across Quadient's solutions delivering tangible value
Digital AI capabilities across Quadient’s solutions delivering tangible value FINANCIAL AUTOMATION CXM Predictive risk scoring Migration Integrated, in-house AI AI-driven virtual assistant BYOAI Integration with Root-cause and pattern analysis customer ecosystem of AI-enhanced scripting systems of r
Slide 18: Accreditation secured and positioning as a leading e-invoicing partner
Digital Accreditation secured and positioning as a leading e-invoicing partner reinforced by strong commercial momentum QKS Group SPARK Matrix : E-invoicing solutions, Q4 2025 Serensia by Quadient platform Quadient Strong sign-up momentum receives final accreditation on financial automation platform
Slide 19: Strong subscription-related revenue growth driving margin expansion
Digital Strong subscription-related revenue growth driving margin expansion REVENUE PERFORMANCE EBITDA and EBITDA MARGIN (in €m, % organic change) (in €m) +8.0% +0.5pts 55 51 25.0% 282 Vs. FY 2024 50 47 267 45 18.0% 20.9% 20.0% (3.8)% 17.5% 40 15.0% 35 15.0% +8.4% 30 30 10.0% 82% 84% +10.7% 25 73 76
Slide 20: Reassessment of mid-term assumptions for Mail
Mail Reassessment of mid-term assumptions for Mail FASTER DECLINE IN MAIL MARKET SEGMENT(1) VALUE FORECAST ▪ Acceleration of decline of the mail market, notably due to: - Customers now actively preparing the e-invoicing mandates in Europe (incl. UK 2029) c. €2.2bn - Further specific mail development
Slide 21: 2025 Mail market headwind balanced by strong cross sell and production mail
Mail 2025 Mail market headwind balanced by strong cross sell and production mail Quarterly year-on-year (%) change Commercial momentum Mail market(1) Quadient Mail 5% Large Q4 deal with European postal operator (sorting equipment) 0% Major Q4 wins in Healthcare, -5% Insurance and Service provider ve
Slide 22: EBITDA margin sustained at high level despite revenue decline
Mail EBITDA margin sustained at high level despite revenue decline REVENUE PERFORMANCE EBITDA and EBITDA MARGIN (in €m, % organic change) (in €m) -9.5% -0.3pts 732 Vs. FY 2024 220 200 39.0% 640 173 37.0% 170 (16.8)% 35.0% 33.0% -10.9% 120 86 87 31.0% 196 163 68% 71% (6.1)% 27.4% 27.1% 27.6% 29.0% (1
Slide 23: Scaling growth with rapid margin expansion
Lockers Scaling growth with rapid margin expansion QUARTERLY REVENUE GROWTH PROFITABILITY EXPANSION (in €m, % organic SRR change yoy, SRR CAGR 2022-2025) (% EBITDA margin) SRR CAGR +11% 31 29 28 27 27 5.0% 3.6% 24 25 24 24 23 22 23 0.6% 21 21 20 20 +17.3% -3.0% +17.6% +17.8% +12.7% -10.9% 59% 61% 64
Slide 24: Continued expansion, with product innovations in US to better meet client needs
Lockers Continued expansion, with product innovations in US to better meet client needs Q4 one-off Launch of multi-million service deal to update design PREMIER Locker on existing network Premium, design-driven of lockers locker solution for upscale across +1,700 locations multifamily communities +2
Slide 25: Steady expansion and adoption of Lockers automation platform
Lockers Steady expansion and adoption of Lockers automation platform NETWORK EXPANSION CUSTOMER ADOPTION ▪ Steady acceleration of the pace of installation ▪ Outstanding increase in usage in Europe, driven by for the open networks in Europe: the UK: 400 2 100 Volumes Installed base 1 600 c. 20x 300 c
Slide 26: Strong revenue growth momentum and profitability inflection confirmed
Lockers Strong revenue growth momentum and profitability inflection confirmed REVENUE PERFORMANCE EBITDA and EBITDA MARGIN (in €m, % organic change) (in €m) +11.4% +4.4pts 10 9 9.0% 8.0% 114 Vs. FY 2024 8 6.3% 7.0% 94 7 5.0% 6.0% +3.0% 6 5.0% +16.8% 5 4.0% 4 6 3 3.6% 4 3.0% 27 31 65% 2.0% +15.8% 64%
Slide 27: Group financials
Laurent du PASSAGE Chief Financial Officer 02 04 FY 2025 GROUP FINANCIALS © 2026 Quadient. All rights reserved. 27
Slide 28: Profitability expansion in Digital and Lockers, resilient profitability in Mail
FY 2025 indicators Profitability expansion in Digital and Lockers, resilient profitability in Mail Revenue Organic change TOTAL GROUP €594m North America -3.7% DIGITAL MAIL LOCKERS Main European €355m Countries -3.7% €87m International +1.9% Revenue €1,036m €282m €640m €114m Organic change -3.2% +8.
Slide 29: Net income impacted by non-cash goodwill impairment
P&L Net income impacted by non-cash goodwill impairment In € millions FY 2024 FY 2025 -5.2% reported change Revenue 1,093 1,036 EBITDA 247 230 EBITDA margin broadly stable EBITDA margin 22.6% 22.2% Depreciation and amortization (101) (95) Current EBIT 146 135 Current EBIT margin 13.4% 13.0% Optimiza
Slide 30: Free cash flow generation impacted by debt interest payment, inventory and tax one-offs
Cash flow Free cash flow generation impacted by debt interest payment, inventory and tax one-offs In € millions FY 2024 FY 2025 EBITDA 247 230 EBITDA margin (%) 22.6% 22.2% Restructuring costs Other items (15) (11) Cash flow before net cost of debt and tax 233 219 FY 2025 supplier payments from FY 2
Slide 31: Lower capex due to fewer Mail equipment placements
Capex Lower capex due to fewer Mail equipment placements CAPEX (excluding IFRS 16) (by solution, in €m) 98 Capex levels aligned with the nature and maturity 86 of the platforms: 23 23 ▪ Digital: stable investment focused on R&D and ongoing platform development 32 ▪ Lockers: sustained high capex refl
Slide 32: Continued deleveraging towards 1.5x target in 2026
Financial structure Continued deleveraging towards 1.5x target in 2026(1) NET DEBT LEVERAGE(3) (in €m) (Net debt/EBITDA) 769 741 736 709 3.1 65 50 38 682 3.0 3.0 3.0 46 36 2.9 270 242 238 226 207 2.0 1.8 464 1.7 1.7 1.6 434 443 437 439 2021 2022R (2) 2023 2024 2025 2021 2022 2023 2024 2025 IFRS 16 d
Slide 33: Strong financial position and balanced debt structure
Financial structure Strong financial position and balanced debt structure Financial debt maturities as at 31 January 2026 DEBT MANAGEMENT (in €m) 3 11 ▪ €50m in new facilities raised: 42 - July 2025: issuance of €50m USPP thanks to 3 15 23 shelf facility signed in January 2025 5 12 2 23 ▪ Feb. 2025:
Slide 34: Conclusion
Geoffrey Godet Chief Executive Officer 05 FY 2025 CONCLUSION © 2026 Quadient. All rights reserved. 34
Slide 35: Consistent return to shareholders
Consistent return to shareholders PROPOSED DIVIDEND STRONG DIVIDEND DISTRIBUTION TRACK RECORD +7% €0.75 €0.70 €0.75 (1) €0.55 €0.60 €0.65 per share €0.50 46% payout (excluding goodwill impairment) FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 Dividend proposal in line with dividend payout ratio po
Slide 36: FY 2026: EBITDA margin targets confirmed
FY 2026: EBITDA margin targets confirmed Organic revenue change expected to range between -2% and +2% EBITDA margin targets(1) confirmed across all Solutions 2026 GUIDANCE Digital Mail Lockers >20% >25% >10% Guidance reflects current visibility: ▪ Macro and geopolitical environment remains challengi
Slide 37: Digital to become Quadient's largest Solution by 2030
Digital to become Quadient’s largest Solution by 2030 QUADIENT REVENUE BY SOLUTION(1) (2022-2030F, in €m) Updated 2030 2030 EBITDA revenue margin ambition ambition Mail c. €500m 20%-25% vs c. €600m previously c. €550m c. 30% Digital vs >€500m previously Lockers >€200m c. 20% 22A 23A 24A 25A 26F 27F
Slide 38: Appendix
06 APPENDIX © 2026 Quadient. All rights reserved. 38
Slide 39: Main shareholders further consolidating their ownership
Main shareholders further consolidating their ownership QUADIENT S.A. OWNERSHIP OVERVIEW – 31 JANUARY 2026 Management, directors, employees, treasury shares (2.9%) VESA Equity Investment S.à.R.L (26.9%) Other shareholders (51.8%) Number of shares: 34,468,912 Bpifrance Participations S.A. (10.2%) Jan
Slide 40: Our 2030 vision to guide Quadient's long-term sustainable growth
Our 2030 vision to guide Quadient’s long-term sustainable growth People & Customers Environment Communities Building trust with market Elevate our people Grow sustainably, reducing leading applications to drive our success our impact on the planet 95% overall customer Foster fair labor practices and
Slide 41: Quadient Intelligent Automation Platform applications ranked in the leader category
Quadient Intelligent Automation Platform applications consistently ranked in the leader category in their respective segment IDC names Quadient world Aspire CCM-CXM Gartner inaugural 2025 QKS Group 2025 SPARK no.1 in CCM market share Leaderboard, Q3 2025 Gartner Magic Quadrant Matrix Recognized by I
Slide 42: H2 2025 results breakdown
H2 2025 results breakdown Revenue Organic change TOTAL €296m North America -3.8% DIGITAL MAIL LOCKERS Main European €179m Countries -4.1% €44m International +1.8% Revenue €519m €145m €315m €59m Organic change -3.5% +8.8% -10.4% +11.5% EBITDA €121m €30m €87m €4m Margin 23.3% 20.9% 27.6% 6.3% Current
Slide 43: Q4 2025 sales breakdown
Q4 2025 sales breakdown Revenue Organic change TOTAL €153m North America -3.6% DIGITAL MAIL LOCKERS Main European €95m Countries -5.0% €23m International +4.8% Total €270m €76m €163m €31m Organic change -3.5% +8.4% -10.9% +16.8% Organic change excludes currency and scope. % of change vs. the same pe
Slide 44: Q4 & FY 2025 performance by geography
Q4 & FY 2025 performance by geography ORGANIC CHANGE BY GEOGRAPHY (in €m, % organic change vs. same period last year) -3.2% 1,093 1,036 +1.9% International 34% Main European -3.5% 34% -3.7% Countries 295 270 +4.8% International 34% Main European 35% -5.0% Countries 58% North 57% -3.7% America North
Slide 45: Q4 & FY 2025 performance by revenue type
Q4 & FY 2025 performance by revenue type ORGANIC CHANGE BY REVENUE TYPE (in €m, % organic change vs. same period last year) -3.2% 1,093 1,036 -12.4% Non-recurring revenue -3.5% 295 270 -10.7% 71% 74% +0.5% Subscription-related revenue 69% 72% -0.3% Q4 24 Q4 25 FY 24 FY 25 Organic change excludes cur
Slide 46: Q4 2025 revenue bridge
Q4 2025 revenue bridge CHANGE IN REVENUE (in €m) +8.4% -8.5% 6 REPORTED CHANGE 295 3 -21 +16.8% 5 -10.9% -18 270 -3.5% ORGANIC CHANGE Q4 2024 Scope Digital Mail Lockers Currency Q4 2025 revenue effect(1) effect(2) revenue Organic change excludes currency and scope. % of change vs. the same period la
Slide 47: FY 2025 financial statements P&L
FY 2025 financial statements P&L FY 2025 FY 2024 (in € millions) Revenue 1,036 1,093 Cost of sales (265) (275) Gross margin 771 818 R&D expenses (60) (63) Sales and marketing expenses (272) (287) Administrative and general expenses (175) (187) Service and support expenses (115) (116) Employee profit
Slide 48: Consolidated balance sheet (1/2)
FY 2025 financial statements Consolidated balance sheet (1/2) FY 2025 FY 2024 Assets (in € millions) 31/01/2026 31/01/2025 Goodwill 959 1,131 Intangible assets 122 119 Tangible assets 167 170 Non-current financial assets 54 65 Other non-current assets 6 2 Leasing and other financing services receiva
Slide 49: Consolidated balance sheet (2/2)
FY 2025 financial statements Consolidated balance sheet (2/2) FY 2025 FY 2024 Liabilities (in € millions) 31/01/2026 31/01/2025 Shareholders’ equity 966 1,113 Non-current provisions 11 12 Non-current financial debt 618 722 Current financial debt 143 347 Lease obligations 36 38 Other non-current liab
Slide 50: Leasing portfolio evolution and short-term cash impact
Leasing portfolio(1) Leasing portfolio(1) evolution and short-term cash impact CUSTOMER LEASING PORTFOLIO(1) Excess of cash, reflected in cash flow (in €m) statement under change in lease 698 receivables -62 623 -38 598 598 +18 595 595 +7 -30 -8 +8 0 +3 -39 +36 -60 533 31 Jan FY 2020 31 Jan FY 2021
Slide 51: All financial covenants met
All financial covenants met 31 January 2025 31 January 2026 Maximum drawing: 90% Intercompany net leasing debt Intercompany net leasing debt Covenants on of outstanding leasing standing at 76% of outstanding standing at 83% of outstanding leasing operations portfolio leasing portfolio leasing portfo
Slide 52: Thank you
Thank you © 2026 Quadient. All rights reserved. 52