74software · EURONEXT:74SW
74software — Investor Presentation (May 2026)
68 slides from 74software's investor presentation, May 2026
Slide 1: Investor Deck May 2026
Investor Deck May 2026 74Software
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING STATEMENT This presentation contains forecasts that may be subject to various risks and uncertainties concerning the Company’s future growth and profitability. The Company highlights that contract signatures, which represent investments for customers, are historically more
Slide 3: Agenda
Agenda 01 Who We Are 02 What We Do 03 FY 2025 Highlights & YTD Performance 04 Looking to 2026 and Beyond 05 Appendices
Slide 4: Who We Are
Who We Are Software 74
Slide 5: The 74Software Journey
The 74Software Journey 2001 2005 2011 2012 - 2017 2018 2020 2021 2023 2025 Axway created to Axway becomes Axway spins Axway strengthens its SBS AI-based SaaS SBS stands SBS leads in First full year as one Group, structure key player in off and lists on offering portfolio becomes a banking out in dig
Slide 6: Entering a New Era…
Entering a New Era… A LISTED CENTRAL ENTITY SERVING ITS ENTERPRISE SOFTWARE PORFOLIO COMPANIES LEVERAGING A PORTFOLIO OF RECOGNISED BRANDS AND LEADING PRODUCTS WITH ALWAYS THE SAME PURPOSE: To be an independent technology provider that sustainably grows enduring value, based upon trust, for our cust
Slide 7: With Solid Foundations
With Solid Foundations EURONEXT PARIS - MAIN EURONEXT ELIGIBILITY COMPARTMENT B INDICES Bloomberg : 74SW:PW CAC Technology SRD Reuters : 74SW.PA Euronext Tech Croissance PEA Market Capitalization Euronext PEA-PME 150 PEA-PME At 30/04/2026: c. €1,050m Euronext Tech Leaders PARIS, FRANCE EURONEXT LIST
Slide 8: Creating Value for All Stakeholders
Creating Value for All Stakeholders EMPLOYEES CUSTOMERS SHAREHOLDERS A trusted, independent enterprise software provider that sustainably grows enduring value by delivering successful outcomes for its customers, opportunities for its employees and returns for its shareholders. 8
Slide 9: Operating model built for scale and accountability
Operating model built for scale and accountability Centralized Governance and Capital Allocation, with Full Brand-level Accountability for Execution Executive Team & Corporate Chapters Why this works Corporate Chapters Human Resources R&D Ops Operations, Legal Finance IT & Systems & Facilities Clear
Slide 10: Execution Translated into Structural Progress
Execution Translated into Structural Progress FINANCIAL DISCIPLINE & DELEVERAGING OPPORTUNISTIC SYNERGY CAPTURE ENHANCED EQUITY STORY BROADER MARKET ACCESS EXPANDED STOCK COVERAGE Building Scale, Visibility and Financial Flexibility COST RATIONALIZATION EFFICIENT SHARED PLATFORM FUNCTIONS STRENGTHEN
Slide 11: Historical Performance
Historical Performance Revenue Profit on (€m) Operating Activities (€m) 800 120 700 Revenue Profit on Operating Activities 100 600 AXWAY STANDALONE 80 500 Business Model Transition 400 60 300 40 200 20 100 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Proforma Organi
Slide 12: Mergers and Acquisitions Strategy
Mergers and Acquisitions Strategy 12
Slide 13: Capital Structure at 31/03/2026
Capital Structure at 31/03/2026 74Software SA Sopra GMT FOUNDERS TREASURY & MANAGERS PUBLIC PASQUIER ODIN ONE EQUITY HISTORICAL TREASURY SHARES FAMILY FAMILY PARTNERS MANAGERS SHARES SHARES SHARES 54.0% 22.4% 22.6% 0.6% 0.4% 41.70% 11.07% 2.01% 43.60% 1.62% VOTING RIGHTS 60.8% 25.5% 12.9% 0.5% 0.2%
Slide 14: What We Do
What We Do A 74Software Ss 2
Slide 15: Capitalizing on our Recent Successes
Capitalizing on our Recent Successes TO BUILD A ROBUST SOFTWARE HOUSE WITH TRIED-AND-TESTED RECIPES PRODUCT PORTFOLIO INTEGRATION BANKING APP • Managed File Transfer (MFT) • Integrated banking products • API Management (APIM) • Modular banking products • B2B Integration • Financing products • Specia
Slide 16: 2025 Business Highlights – Axway
2025 Business Highlights – Axway § MFT delivering double-digit ARR growth, supported by multi-year enterprise renewals and expansion within regulated industries § B2B Integration and API Management delivered sustained double-digit ARR expansion, driven by higher transaction volumes and deeper penetr
Slide 17: 2025 Business Highlights – SBS
2025 Business Highlights – SBS § Customer satisfaction reached a record level, with NPS at 38 (vs. 7 in 2024), reflecting clear progress in delivery quality, support responsiveness, and product modernization § Commercial traction remained strong across integrated core banking and specialized finance
Slide 18: AI Reinforces the Strategic Value of Trusted Software
AI Reinforces the Strategic Value of Trusted Software WHY AI MARKET CONTEXT POSITIONING STRENGTHENS OUR ROLE • AI is reshaping software • We operate at the governance • AI multiplies integration narratives and investment and control layer of mission- complexity across systems, frameworks critical sy
Slide 19: AI Strategy at a Glance
AI AUGMENTED AI Strategy at a Glance A sovereign AI operating model to govern, BANKING OUTCOMES Regulated Execution & Automation deploy and scale AI safely across regulated environments. • Copilots & Agents • Customer Journeys • Contact Center • RM Copilot • Assisted Case Resolution AUTOMATION BANKI
Slide 20: 74Software Incubation Zone
74Software Incubation Zone DIGITAL ENGAGEMENT Digital Engagement Platform forming the foundation of digital banking, powered by modern UI, open APIs and enterprise AI capabilities. 10 banks signed | 3 go-lives in 2025 DIGITAL CORE From Spark To Scale AI-native core banking platform, extending SBS tr
Slide 21: Managed File Transfer
Managed File Transfer SECURE MANAGED FILE TRANSFER OPERATIONS Tightest Security Automate and meet SLAs Managed Cloud Services for MFT Scalable Hybrid Deployment Protect organizations from Use automated workflows to Spend less time managing a technical Deploy as a flexible subscription operations dis
Slide 22: B2B Integration
B2B Integration SECURE, API-ENABLED EDI IN THE CLOUD Better Responsiveness Global Compliance B2B Communications Fully Containerized Cut manual involvement Solutions for B2B and B2G Connect to all your partners Containerized deployments and shorten response times eInvoice compliance as well quickly a
Slide 23: Amplify API Management
Amplify API Management IT COMPLEXITY HAS MET ITS MATCH Open Platform Developer Independence Full Lifecycle Zero Duplication Discover, reuse, and govern Speed API and app development Manage the entire API lifecycle: Automatically detect new APIs across multiple gateways, by giving DevOps the freedom
Slide 24: Financial Accounting Hub
Financial Accounting Hub DIGITAL FINANCE TRANSFORMATION Accelerate accounts closing, ensure data accuracy, and comply with all regulations. Digital transformation, operational excellence, and accurate data for the entire company. Event Storage of Storage accounting entries Audit Trail Reconciliation
Slide 25: SBS Product Portfolio
SBS Product Portfolio From tried-and-tested core banking systems to payments, lending, and specialized financing solutions INTEGRATED BANKING PRODUCTS Proven core platforms – leaders in Francophone Africa, French mid-market and Benelux retail, delivering resilient full-service BANKING COMPONENTS Fra
Slide 26: Integrated Banking Products
Integrated Banking Products PROVEN CORE PLATFORMS · RELIABLE · SCALABLE · ENDORSED BY LEADING BANKS 220+ FUNCTIONAL OVERVIEW African banks entrust us with their data — over 70 % market share in Francophone Africa § End-to-end core banking for retail and commercial § Payments functionality with treas
Slide 27: Banking Components
Banking Components LENDING (CREDIT & RISK) · CARDS & PAYMENTS · RELIED ON BY TIER-1 BANKS FUNCTIONAL OVERVIEW 5 of 5 Of Tier 1 banks in France use SBS § Lending: lending solutions o Full coverage of the credit lifecycle (servicing to collection, through collateral and provisioning) o Configurable wo
Slide 28: Modular Banking Products
Modular Banking Products NEXT-GEN DIGITAL CORE · CLOUD-NATIVE · COMPOSABLE · DRIVING MODERNIZATION FUNCTIONAL OVERVIEW ~40% Of payments in France processed § Progressive transformation with modular adoption in accounts, lending, payments through SBS solutions and compliance § Native Digital Engageme
Slide 29: Financing Products
Financing Products ASSET FINANCE · SPECIALIZED SOLUTIONS · TRUSTED BY MARKET LEADERS FUNCTIONAL OVERVIEW $87B Financing transactions processed annually, including 4.6M vehicles § End-to-end digital lending covering credit, origination, servicing and collections § Automated processing of assets and l
Slide 30: FY 2025 Highlights & YTD Performance
03 FY 2025 Highlights & YTD Performance
Slide 31: FY 2025
FY 2025 74Software
Slide 32: Delivering on Our 2025 Commitments
Delivering on Our 2025 Commitments FY 2025 2025 INITIAL GUIDANCE ≈€ 700 m FY25 revenue increased by 3.8% organically, reaching € 707 . 2 m Revenue 14 - 16 % Profit on op. activities reached €107.3m, or a 15 . 2 % margin Margin on Op. Activities 10 % Unlevered FCF reached €80.4m, or 11 . 4 % of reven
Slide 33: FY 2025 – Key Figures
FY 2025 – Key Figures FY 2025 Strong Performance Across All Key Performance Metrics € 707 m Revenue 38 + . % Organic Growth 15 .2 % Margin on Operating Activities § ARR Axway: €273m § ARR Growth Axway: +11.8% § Axway: 21.6% § ARR SBS: €244m § ARR Growth SBS: +8.9% § SBS: 10.2% 11 .4 % Unlevered FCF
Slide 34: FY 2025 – Income Statement
FY 2025 – Income Statement FY 2025 Significantly Improved Profitability 5P5@ 5P5V =aABAa"F CfFgh( U5D$IGH$T$U5D$XeX !" #$AB$C(EF !" #$AB$C(EF !" # G,GI.$C/L/MN/ OPOF5 RSPFP T$UOF5 T5FV# !"#$A&C"(#(&"E&*+,+I.+ /0/12 /O210 WC,XX$=C,>?G @ORFU ROFA# @@BFB RVFP# T$5OFA TRFU# 45+*$#6IS&+T5+I(+( 09:1: 0;O1
Slide 35: FY 2025 – Change in Revenue
FY 2025 – Change in Revenue FY 2025 Solid Revenue Growth Despite FX Headwinds 800 780 +4.6% +3.0% +3.8% 760 740 Revenue in €m 720 11 707 700 15 00 690 680 - 08 660 640 620 600 2024 FX Impact Axway SBS Consolidation 2025 Proforma 35
Slide 36: FY 2025 – Change in Revenue
FY 2025 – Change in Revenue FY 2025 Revenue Growth Driven by Strong Subscription Expansion 800 -8.6% +17.5% +22.1% -5.3% -8.9% +3.8% 780 760 740 26 Revenue in €m 720 - 02 707 700 32 - 13 690 680 - 08 660 - 17 640 620 600 FX Impact Customer Managed License 2025 Subscription 36 2024 Maintenance Own Ma
Slide 37: FY 2025 – Revenue Breakdown by Type
FY 2025 – Revenue Breakdown by Type FY 2025 Delivering as planned on the shift toward a structurally recurring subscription-driven model Product revenue at 81% of 2025 total revenue (vs. 79% in 2024) Maintenance & Support Customer-managed Subscriptions Own-managed Subscriptions Licenses Services 25%
Slide 38: FY 2025 – ARR Growth
FY 2025 – ARR Growth FY 2025 Strong ARR expansion, achieving a 10% CAGR at constant FX across both Axway and SBS 290 90% of Product Revenue 290 89% of Product Revenue 270 270 250 R1 0% 250 CAG 230 230 R1 0% CAG 210 210 -0.4% +0.9% +2.4% +4.3% +2.8% +1.8% +2.9% +3.9% 2.2% +1.2% +2.1% +4.8% +2.3% +1.6
Slide 39: FY 2025 – Margin on Operating Activities
FY 2025 – Margin on Operating Activities FY 2025 78.4% of Rev. 18.8% of Rev. 67.3% of Rev. 25.8% of Rev.* 17.8% of Rev. 23.7% of Rev. 8.5% of Rev. 15.2% of Rev. 77.3% in 2024 19.4% in 2024 65.0% in 2024 25.4% in 2024 17.4% in 2024 22.2% in 2024 8.6% in 2024 13.6% in 2024 500 25 476 451 450 400 350 3
Slide 40: FY 2025 – Brand Contribution
FY 2025 – Brand Contribution FY 2025 Axway further improving – SBS on track to deliver on plan 84.3% 9.6% 76.5% 19.0% 25.6% 31.9% 71.4% 22.2% 58.6% 32.0% 10.5% 16.1% of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev. of Rev * of Rev. of Rev. 81.9% 2.8% in 73.3% 18.6% 25.0% 29.8%
Slide 41: FY 2025 – Cashflow Statement
FY 2025 – Cashflow Statement FY 2025 Cashflow growth driven by operating improvements and optimized NWC management !"!N !"!# eUF45H6./EF0 !"#$% $#ABC(EFGH AIA ./EF0 ./EF0 !"!N66CT<6!"!# 1NHGF(O456SFTUC:BE ;;"<= >><? $$<> >=<" @6>A<> !"#$%&CDE*$+D$,-. //01 /N03 P/03$ PN305$ R$N70/ !"#$!8&*9$!:*9C8+DE
Slide 42: FY 2025 – Cash Generation and Balance Sheet Evolution
FY 2025 – Cash Generation and Balance Sheet Evolution FY 2025 Net debt reduced by 23% to €193 million – Leverage ratio down by 33% to 1.92x 120 111 100 -08 80 -18 in €m 60 40 -47 20 08 -29 -01 00 Operating Cashflow Inv. CF Inv. CF Fin. CF Fin. CF FX and Others Net Change in Cash Capex Capitalized R&
Slide 43: Q1 2026
Q1 2026 74Software
Slide 44: Q1 2026 – Group Revenue
Q1 2026 Q1 2026 – Group Revenue Strong Execution and Further Progress toward Recurring Revenue J(>BgSF$F3S$ABhFNS3$#"CiB;BN,B.Q.O N,B.Q.O Ø Q1 2026 revenue reached l(#CS3 hFNS3$#"C cd$FT(BeBR$#S" mnoT €182.7 million, up 10.0% !"#$ABC()(F+( ,I.K0 !"#$A&'(#")*+, -(./0/1 organically, reflecting a MC"N+
Slide 45: Q1 2026 – Revenue by Type
Q1 2026 Q1 2026 – Revenue by Type 2O=O/<O#hg#'gPO#d#eJ9*g !"#$A$& !"#$A$& '()*G ,-.*/L1 !"#$A$a !"#$#% 2OP(-)OQ 2OR)*)OQ#S T-(9): T-(9): ;-(Q<1)#-O=O/<O >A?" @A?B @A?$ C?AD "B?AD 2O1<--L/.#-O=O/<O @a?A @$?" aC?A &?>D "A?aD !"#$%&C()*(&(+*$&(,$-.//!0) M2O 4O2O 452O R5O2M7 R8M2U7 !"#$:.-)!;*0R;&(&<*,$
Slide 46: Q1 2026 – ARR by Type
Q1 2026 Q1 2026 – ARR by Type BSS2RT9):;<(Y2>*2?*@92!"#$%&C"!&"#(E*+!&,-#.!"-C#!C#%/#(&0123#4Q4R #/#+ #/#- A<A2BC)YD92 !"#$%&'"!&"#() !" !# !$ !A !" BC()* #+A,- #+.,/ #--,+ #0-,. #00,/ 123,34 !"#$%&$"$C&("$)(*+,,-.% /0M2 O4M0 O5M0 64M7 6OM/ 8(65M29 :+*%-;&.8;"$"<&)(*+=*C.#,%#-$ 5O>M6 5//M7 54/M? 57>
Slide 47: Looking to 2026 and Beyond
“ Looking to 2026 and Beyond igo ooe, 74Software
Slide 48: Disciplined Capital Allocation to Build Long-Term Optionality
Disciplined Capital Allocation to Build Long-Term Optionality FINANCIAL DISCIPLINE & CAPITAL ALLOCATION à Cash flow discipline : Prioritizing balance sheet strength to preserve flexibility across M&A, share buybacks and dividends over time. à M&A as a long-term value creation lever : A structural pr
Slide 49: Scaling a High-Margin, Cash-Generative Model
Scaling a High-Margin, Cash-Generative Model 2025 2026 2028 ACTUALS 12M GUIDANCE 3Y AMBITION Close to €1bn € 707 m 3 - 5% Revenue Guidance Achieved CAGR raised to 3–5% € 800 m Mid-term including M&A Margin on Op. Activities 15 .2 % 15 - 17 % Operating leverage from SBS improvement ≈ 20 % Guidance Ac
Slide 50: 74Software Is Built for Durable Value Creation
74Software Is Built for Durable Value Creation IMPROVING KEY DISCIPLINED EXECUTION AI OPPORTUNITIES PERFORMANCE INDICATORS à Guidance delivered or exceeded à Strong ARR growth across both brands à AI increases demand for trusted control à Margin & cash generation improved à Revenue mix continues to
Slide 51: Appendices
Appendices 74Software
Slide 52: FY 2025
FY 2025 74Software
Slide 53: FY 2025 – Revenue by Brand & Type
FY 2025 – Revenue by Brand & Type FY 2025 .-.: .-.: ?#'@A( d"S@GR&( .-.L !"#$#% !"#e#"f@ 5)<'@')$ F"#D'c F"#D'c !"#$A&'(")*)GA) ,-./L .1,/1 .22/- ./1O L/PO 5)&A""RGS(")*)GA) .1T/9 .2,/9 .92/P :/TO T/9O !"#$%&C()*(&(+*$,$-.//!0) M2O2 45OR 44OS 8U4O5: 8UROM: !"#$;.<)!=*08=&(&>*?$-.@<+0C/)C!( A5BOM A4S
Slide 54: FY 2025 – ARR by Type
FY 2025 – ARR by Type FY 2025 New disclosure – ARR at constant FX (as of 31/12/2025) ARR BY TYPE #4#A #4#- Q6)S89 :;: !" !# !$ !A !" !# !$ !A BC()* ##+ ##, #$A #AA #-" #-- #+$ #.$ ""/01 !"#$%&$"$C&()(*+,,-.% /0 M2 M2 M0 O4 OM O5 6/ S8495: ;+<%-=&.(!"$">&? 086 08M 065 0O6 0O@ 0MO 0/O 022 869M: AB$(!"
Slide 55: FY 2025 – ARR by Product Line
FY 2025 – ARR by Product Line FY 2025 New disclosure – ARR at constant FX (as of 31/12/2025) #4#A #4#- Q6)S89 ARR BY PRODUCT LINE :;: !" !# !$ !A !" !# !$ !A BC()* ##+ ##, #$A #AA #-" #-- #+$ #.$ ""/01 !"#"$ABC()FAC+,"#I.A, /0 /0 /M 2OP 2O5 2O6 2O/ 22M 207PT 9:9C;#<A$,"<)=# 50 55 5> 56 5M >2 >P >0 2
Slide 56: FY 2025 – Revenue Breakdown by Product & Region
FY 2025 – Revenue Breakdown by Product & Region FY 2025 Strong Performance across all Key Performance Metrics 17% 18% 24% 15% 18% 25% MFT 40% Financing Products 42% B2B Integration 17% 18% Revenue by product Modular Products APIM 10% Integrated Products 11% Others Banking Components 47% 25% 47% 26%
Slide 57: FY 2025 – Revenue by Geography
FY 2025 – Revenue by Geography FY 2025 0P0M 0P0/ $0P0/ cAA:@ f-g:hT9$ C-A&A-": '(;A:A(? d-AFAe d-AFAe !" #$A&$'(E* G,-A.( /0M*2 OP*0# /5R*O /5O*O 5*2# 0*0# !"#$%&'()F +,-.K -0.+1 ,23.4 ,23.4 2.K1 2.K1 !"#$56 27., ,-.71 2-.- 2+.+ 3.,1 8.-1 S"(-T9:; 5M<*< 00*O# 5MP*0 5/=*< O*M# 55*5# >T??@($G:;A$B$S&-
Slide 58: FY 2025 – Margin Analysis
FY 2025 – Margin Analysis FY 2025 TST? TSTc Nn,0eD /PABAP", !" #$AB$CDEF !" #$AB$CDEF !" G,I.I$/A.01I !"#$%&'(")*)+%) ,-,., /0.12 ,11.0 -/./2 3(P0., 3(5,1 6)"*S&)8(")*)+%) 0P0.- 0/.92 019.: 50.52 ;(01.1 ;(5,1 NA1,O$PDED05D RSRFT UVSFS ;$<RFT NA1,O$=AI1I$AB$PDED05D T>TF< T?<F> @$VFT ACBCC$/CBDaN ?RUF
Slide 59: FY 2025 – Brand Contribution
FY 2025 – Brand Contribution FY 2025 U?U> U?Uc CDdAP1Dn No,0eD gfl,m gfl,m !" #$AB$CD)F !" #$AB$CD)F !" G,I.I$/A.01I !"#$%&'(")*)+%) ,-./0 12/03 .2,/2 12/P3 5(1/6 5(,2 S)"*8&)9(")*)+%) ,0/: P-/03 ,0/1 P-/23 ;(-/: ;(,2 NA1,O$PD)D05D RRSFT RUTF: ;$:F< NA1,O$=AI1I$AB$PD)D05D STF> ::F? @$:FA BCCDD$/CCaF
Slide 60: FY 2025 – Balance Sheet
FY 2025 – Balance Sheet FY 2025 !"!$ !"!$ !"!# A&CDE FPM,5O !"!# A&CDE FPM,5O F+,I+./LMNOL F+,I+./LMNOL !"#$A !"#$A &CCD)"FG#,-C-!./01-G 2O454 24657 T#965: ;/G<#=#C/G<#->)!./1-"FG T?@5?# T?95?# T#O5A BF<-,#C),,-"F#/GG-FG 9A?5A 9A954 C#25A D!"/"C!/1#a-0F 2?95? 2495@ T#7A5? &CCD)"FG#b/c/01-G T625O T2@
Slide 61: FY 2025 – Headcount
FY 2025 – Headcount FY 2025 !"#"$#$A$& !"#"$#$A$C ()*+,- !"#$A& '(E*+ ,(-E- ./'+ 0MP5 ,*- ,67 ./7 052P(.(8P32923 7': 77' .+7 ;2<<=&(!P5>(.(09#23P :'' :,6 ./+ ./.L1 C2&O" C2O4O 5$"6 61
Slide 62: Leadership
Leadership 74Software
Slide 63: Gouvernance
Gouvernance 11 Members 4 Nationalities 40% Women* 6 Meetings 97% Attendance 63 * The proportion of women on the Board of Directors is calculated excluding the Board Observer.
Slide 64: Executive Committee
Executive Committee PATRICK DONOVAN ERIC BIERRY ROLAND ROYER TOBIAS UNGER JULIA SIEPMANN Chief Executive Officer Deputy CEO CEO of Axway Chief Financial Officer Chief Human Resources Officer United States - France CEO of SBS France Switzerland United Kingdom France 9 members XAVIER REBEUF PAUL FRENC
Slide 65: Glossary and Alternative Performance Measure
Glossary and Alternative Performance Measure § Axway ARR: Annual Recurring Revenue – Expected annual billing amounts from all active maintenance and subscription agreements. § Brand Contribution: Contribution to profit on operating activities from the two brands (Axway and SBS) before general & admi
Slide 66: Notes
74Software Hl
Slide 67: Notes
74Software Hl
Slide 68: 74Software
74Software |