Quality & Reliability S.A. · ATHEX:QUAL
Quality & Reliability — Investor Presentation (November 2026)
25 slides from Quality & Reliability's investor presentation, Nov 2, 2026
Slide 1: Building the Next European Technology Powerhouse in EMEA
Building the Next European Technology Powerhouse in EMEA Euronext Athens Small Cap— QUAL Investor Presentation | November 2, 2026 | Confidential
Slide 2: CEO Statement
CEO STATEMENT Building the Next European Technology Powerhouse We are transforming QnR from an established Greek technology company into a fast-growing European Technology Group, built on 35 years of experience, eight specialized companies and an expanding international footprint. Our H1 2026 perfor
Slide 3: Table of Contents
INVESTOR PRESENTATION / NOVEMBER 2026 Table of Contents 01 QnR at a Glance 04 09 Why Poland 17 02 The QnR Technology Platform 05 10 Acquire, Integrate & Scale 18 03 Group Legal Structure 06 11 Leadership 19 04 H1 2026 Results 07–12 12 M&A Track Record 20 05 The QnR Growth Model 13 13 M&A Strategy &
Slide 4: QnR Group at a glance
GR O U P O V ER VI EW – RE VI S E D N EW H 1 2 0 26 ISO 29993.png 1. QnR Group at a glance 8 225 380 80 35 341 26 integrated tech private-sector years listed on professionals public entities years in market certifications companies clients (2025) Euronext Athens 20 26 H IG HL IG HT S CUL TU RE & GOV
Slide 5: The QnR Group Technology Platform
T HE GR O UP T O DA Y 2. The QnR Group Technology Platform GOVERNMENT ENTERPRISE AI CYBERSECURITY CORE BANKING & PUBLIC SECTOR GEN AI AGENTS & ADVANCED & DIGITAL DIGITAL FINANCIAL DIGITAL ANALYTICS RESILIENCE TECHNOLOGIES TRANSFORMATION BRUSSELS-ATHENS MARITIME INTELLIGENCE ENTERPRISE SERVICE SAP S/
Slide 6: QnR Group Legal Structure
GROUP STRUCTURE / OPTION A · OWNERSHIP TREE 3. QnR Group Legal Structure QnR GR PARENT COMPANY 100% 76.19% 60% 51% 100% 51% 51% QnR Financial Alexander SysteCom SquareDev QnR Cyprus MTIS E-XIM IT Services Moore BV GREECE GREECE GREECE BELGIUM CYPRUS GREECE POLAND LTD Greek branch of SquareDev QnR Gr
Slide 7: H1 2026 Results - The QnR Growth Path to 2030
4. H1 2026 RESULTS - THE QnR GROWTH PATH TO 2030 Euronext Athens — QUAL November 2026
Slide 8: Six months to 30 June 2026
G RO U P · R ES U L TS V S H 1 2 0 2 5 · B A L A N C E S H EE T V S 3 1 .1 2 . 20 2 5 Six months to 30 June 2026 R E VE N UE GRO SS PRO FI T E BI T D A €13.90m €5.80m €3.16m +60.8% vs H1 2025 (€8.65m) +83.5% vs H1 2025 · 41.7% margin +52.0% vs H1 2025 · 22.7% margin PR O FI T B E FO R E T AX EA RNI
Slide 9: Revenue: the Group grew 61%, the parent 37%
R E V E N UE · G R O U P A N D C O M P A N Y Revenue: the Group grew 61%, the parent 37% Group and parent company revenue (€m) Revenue drivers, H1 2026 P AR E N T CO M P AN Y +60.8% 13.90m +€2.55m organic growth at Q&R itself, to €9.50m +36.7% 9.50m F OU R A C QU I R E D CO M PA N I E S 8.65m 6.95m
Slide 10: Adjusted EBITDA outgrew revenue at both levels
O P E R A T I N G P E R F O R MA NC E · GR O UP A N D C O M P A N Y Adjusted EBITDA outgrew revenue at both levels Group · EBIT → EBITDA → adjusted EBITDA (€m) Company · EBIT → EBITDA → adjusted EBITDA (€m) +71.0% +52.0% 3.56m 3.16m +43.7% +60.3% +24.2% 2.64m 2.52m +24.7% 2.28m 2.08m 2.08m 1.74m 1.8
Slide 11: Gross debt down 39%, net debt down 36%
B O R R O W I N GS , C A S H A N D NE T D E B T Gross debt down 39%, net debt down 36% Group (€m) Company (€m) 8.50m 7.20m 6.22m 5.19m 4.98m 3.74m 3.87m 3.33m 2.28m 2.35m 2.63m 1.45m Gross debt Cash Net debt Gross debt Cash Net debt 31 Dec 2025 30 Jun 2026 31 Dec 2025 30 Jun 2026 € Group 30.06.26 Gr
Slide 12: The acquired companies are profitable, not just additive
A C Q U I R E D S U B S I D I A R I E S · H 1 2 0 26 The acquired companies are profitable, not just additive € Systecom Squaredev Alexander Moore MTIS Total Ownership 60.00% 51.01% 76.19% 51.00% – Revenue 2,805,720 1,024,618 629,290 968,395 5,428,023 EBITDA 377,284 322,836 98,696 235,506 1,034,323
Slide 13: Growth Model: Building the Platform. Activating the Growth Engine.
T HE Qn R G R OW TH MOD E L 5. Growth Model: Building the Platform. Activating the Growth Engine. Anticipating market shifts, building strategic capabilities and converting complementarity into scalable growth. 01 → 02 → 03 MARKET STRATEGIC GROWTH FORESIGHT CAPABILITY BUILDING ENGINE Anticipate stru
Slide 14: Financial Outlook 2026-2030
G ROW TH ROA DMAP · 6. Financial Outlook 2026-2030 Revenue, EBITDA & PBT (€M) - With Poland EBITDA & PBT Margins - With Poland 18% 19% 19% 19% 16% Revenue +201% · CAGR 25% ('25→'30) 14% 63.4 55.0 12% 12% 13% 13% 47.7 9% 41.3 4% 2025A 2026F 2027F 2028F 2029F 2030F 30.5 EBITDA Margin PBT Margin 21.1 1
Slide 15: Strategic Priorities to 2030
LONG-TERM STRATEGIC AMBITIONS 7. Strategic Priorities to 2030 International Revenue Recurring Revenue Private / Public Revenue Mix CURRENT LONG-TERM AMBITION CURRENT LONG-TERM AMBITION CURRENT LONG-TERM AMBITION 10% 60% of Group 25% 60% Recurring 43% Private / 65% Private / Revenue 57% Public 35% Pu
Slide 16: From Greece to an EMEA Platform
GE O G R A PH I C E X P A NS I O N 8. From Greece to an EMEA Platform Operating Operating Operating Athens Cyprus Brussels EU tenders & R&D programs · European institutional HQ — digital transformation, AI, fintech & cybersecurity Regional hub · MENA expansion gateway clients Operating In Progress I
Slide 17: Why Poland: The Growth Engine of CEE
GEOGRAPHIC EXPANSION / STEP 1: POLAND 9. Why Poland: The Growth Engine of CEE 01 02 03 LEADING CEE ECONOMY 3.5% GDP GROWTH RISING GDP PER CAPITA Among the largest and fastest-growing 2026 estimate · Faster than most of Converging toward Western European economies in the EU Western Europe levels 04 0
Slide 18: Growth Model - Acquire, Integrate & Scale
OUR MODEL / ACQUIRE, INTEGRATE & SCALE 10. Growth Model — Acquire, Integrate & Scale We do not acquire revenue. We acquire capabilities. 01 02 03 CONSOLIDATE EMPOWER SCALE Acquire specialist teams in AI, cyber, fintech, Preserve entrepreneurial energy of acquired Scale capabilities across the Group’
Slide 19: Our People - Our Leaders
11. Our people-Our Leaders Experienced. Focused. Committed. | Driving Growth. Delivering Value. Dr. Panagiotis Paschalakis Irene Nikolopoulou Dimosthenis Georgacopoulos Nikos Samonakis George Marinakis Michalis Pierettis Chief Executive Officer Vice President BOD Managing Director SysteCom Group CFO
Slide 20: M&A Track Record - Building the Platform
S T RA T E GI C I N VE S T ME N T & M& A E X E C UT I O N 12. M&A Track Record — Building the Platform 5 acquisitions in 18 months · €9.45M deployed · Platform foundation established SysteCom (60%) Jan 2025 €1.5M Cybersecurity & Managed Services · path to 100% by 2028 SquareDev BV (51%) Mar 2025 €1.
Slide 21: M&A Strategy - What We Look For Next
M& A S TRATEGY 13. M&A Strategy — What We Look For Next 1 Revenue 2 Expertise 3 Founders €3–15M profitable companies Hard-to-replicate, high-end capabilities Strong teams willing to partner 4 Recurring 5 Synergy 6 Geography SaaS / recurring revenue component Clear cross-sell with existing portfolio
Slide 22: Capital Available for Growth
G R O WT H F U N D I N G Capital Available for Growth Share Capital Increase €8.8M The Funding Advantage Bank Bond Loan €8.0M Total Funds Available €16.8M ▪ €8.59M remaining — available for further acquisitions ▪ Listed status enables further capital raises if required Alexander Moore Sep 2026 –€0.7
Slide 23: Why Invest in QnR Group Today
I N V E ST M E NT P R O PO SI T I O N 14. Why Invest in QnR Group Today 1 Proven Growth & Execution 2 Exposure to Structural Technology Growth Markets Strong organic growth combined with five successfully executed acquisitions. AI, Cybersecurity, Enterprise Platforms, Fintech, Defence & Maritime Tec
Slide 24: Growth Catalysts: Activating the Next Phase
GROWTH STRATEGY / 2026–2027 Growth Catalysts: Activating the Next Phase Five drivers of growth to accelerate profitability and long-term value creation. 01 CROSS-SELLING & REVENUE 02 SERVICE NOW & CEE 03 RECURRING REVENUE SYNERGIES EXPANSION GROWTH Activate the combined customer base and Scale the E
Slide 25: The Platform Is Built. The Next Growth Phase Starts Now.
QnR GROUP / INVESTMENT OUTLOOK The Platform Is Built. The Next Growth Phase Starts Now. PROVEN EXECUTION • EUROPEAN EXPANSION • SCALABLE VALUE CREATION Building the Next European Technology Powerhouse QnR Group | Euronext Athens Small Cap | November 2026
Quality & Reliability S.A. (QnR Group) — Investor Presentation (November 2026) on 6ix