Slide 1: Driving customer centricity
Driving customer centricity Results for the six months ended 31 August 2026 Tuesday, 13 October 2026
Slide 2: Agenda
01 Introduction and overview Sam Mudd Agenda 02 Financial review Andrew Holden 03 Strategic review and outlook Sam Mudd Sam Mudd 04 Q&A Chief Executive Officer Sam Mudd and Andrew Holden Andrew Holden Chief Financial Officer 2
Slide 3: A strong first half
01 INTRODUCTION AND OVERVIEW A strong first half Broad based growth across our sectors and vendor portfolio, with full year guidance upgraded +19.6% +17.8% +6.6% +41.0% £41.3m Gross invoiced income (GII) Gross profit Operating profit Services GII Returned to shareholders G ROW T H IN B OT H S ECT OR
Slide 4: Delivering on our strategy
01 INTRODUCTION AND OVERVIEW Delivering on our strategy Clear evidence of structural progress made in the half W HAT W E COM M IT T ED T O AT F Y 2 6 W HAT W E DEL IVERED IN H1 W HAT IT M EAN S G OIN G F ORW ARD GP up 17.8%, with double-digit growth in Structure fully embedded, expected to drive The
Slide 5: Financial review
02 Financial review Andrew Holden, Chief Financial Officer
Slide 6: Financial highlights
02 FINANCIAL REVIEW Financial highlights Gross invoiced income1 Gross profit Operating profit £1.6bn +19.6% £97.1m +17.8% £35.3m +6.6% Earnings per share Net cash Cash conversion2 12.76p +6.1% £68.4m HY26 £82.3m 45.7% HY26 34.4% Ordinary dividend3 Renewal rate Existing customer GP 3.3p +3.1% 115.7%
Slide 7: Income statement
02 FINANCIAL REVIEW Income statement Income Statement H1 FY27 £m H1 FY26 £m Change % Gross invoiced income (GII) 1,605.2 1,342.0 19.6 COM M EN T AR Y Netting adjustment (1,476.9) (1,234.0) 19.7 • GII up 19.6%, reflecting broad-based growth across each Revenue 128.3 108.1 18.7 segment Gross profit (G
Slide 8: Income analysis
02 FINANCIAL REVIEW Income analysis GII and GP by product and sector H1 FY27 £m H1 FY26 £m Change % Share % M IX IN H1 F Y 2 7 (S HARE %) Gross invoiced income (GII) Software 1,535.3 1,292.4 18.8 95.6 GII by sector GP by product Hardware 20.4 14.6 39.7 1.3 Services 49.5 35.1 41.0 3.1 Public 1,131.6
Slide 9: Cash flow
02 FINANCIAL REVIEW Cash flow CAS H F L OW ( £ ’ m ) OP ERAT IN G P ROF IT ( £ ’ m) AN D CAS H CON VERS ION ( %) 40 Opening cash 98.6 Cash from operations +16.8 175 PPE -0.7 30 140 Intangible assets 0.0 Net interest +4.7 20 105 Tax paid -9.2 70 Lease payments -0.5 10 Dividends -16.3 35 Issue of shar
Slide 10: Balance sheet
02 FINANCIAL REVIEW Balance sheet Balance Sheet 31 August 2026 £m 31 August 2025 £m Property, plant and equipment 14.1 13.9 Our strong balance sheet supports large gross Intangible assets 45.7 45.4 receivables and payables balances inherent to Investment in associate 3.0 3.2 our business model Other
Slide 11: Capital allocation hierarchy
02 FINANCIAL REVIEW Capital allocation hierarchy Maintaining a strong balance sheet through the cycle PRIORITY 1 2 3 4 Organic growth Dividends M&A Return of excess cash ● Continue our proven strategy of ● Dividend policy is to distribute ● Actively monitoring acquisition ● £25m share repurchase gro
Slide 12: Outlook
02 FINANCIAL REVIEW Outlook Guidance upgraded in September, with the Microsoft changes and cost normalisation planned for Low to mid-teens Low to mid single-digit c.£4.5m FY27 gross profit growth FY27 operating profit growth Cost normalisation across FY27, around half absorbed in H1 H2 FY27 MICROSOF
Slide 13: Strategy & Business review
03 Strategy & Business review Sam Mudd, Chief Executive Officer
Slide 14: The value-added reseller opportunity
03 STRATEGIC REVIEW AND OUTLOOK The value-added reseller opportunity AI is increasing what customers spend on technology, and vendors are choosing to sell more of it through partners AI is growing technology’s share of wallet…1 …and more of it is being sold through partners2 74% 59% 40% 40% Other 33
Slide 15: Broad-based growth across sectors and vendors
03 STRATEGIC REVIEW AND OUTLOOK Broad-based growth across sectors and vendors Both businesses growing double digits, with growth from Microsoft and other vendors G P G ROW T H ( %) 23.1% G R O WT H B Y I N C O ME S T R E A M 17.8% Software GII +18.8% GP +15.8% 14.6% 13.9% Hardware GII +39.7% GP more
Slide 16: New customers and deeper relationships
03 STRATEGIC REVIEW AND OUTLOOK New customers and deeper relationships Growth comes from winning new customers and growing share of wallet with those we already serve NEW CUSTOMER EXPANDING EXPANDING RETAINED Consolidating c.300 sites onto one Strategic cyber relationship, advising on Commercial and
Slide 17: Microsoft: ready to benefit from the next changes
03 STRATEGIC REVIEW AND OUTLOOK Microsoft: ready to benefit from the next changes Established record of absorbing partner incentive changes and continuing to grow What you already know: January 2025 New changes from October 2026 Group GP % growth ● Separate from the January 2025 changes, which are n
Slide 18: A simpler business, aligned to how customers buy
03 STRATEGIC REVIEW AND OUTLOOK A simpler business, aligned to how customers buy Sector alignment completed in July 2026, and no customer accounts changed hands Bytes Phoenix Private sector Public sector W HAT W E DID W HY W E DID IT W HAT IT M EAN S ● Bytes focused on the private sector and Phoenix
Slide 19: Services: the value we add around the technology
03 STRATEGIC REVIEW AND OUTLOOK Services: the value we add around the technology Services deepen our relationships, drive higher margins, and are where vendor funding is moving ON E CAP AB IL IT Y , T W O R OUT E S T O M ARK ET S ERVICES IN T HE F IRS T HAL F Build the service once +41.0% +17.4% +12
Slide 20: CyberOne: accelerating our services strategy
03 STRATEGIC REVIEW AND OUTLOOK CyberOne: accelerating our services strategy Announced in October 2026, giving Bytes its own accredited security operations capability W HAT W E ARE ACQ UIRIN G W HAT IT UN L OCK S ● A managed cyber security services provider built on Microsoft technology ● Cross-sell
Slide 21: AI: a growth driver across our core business
03 STRATEGIC REVIEW AND OUTLOOK AI: a growth driver across our core business Strongly positioned to capitalise on growing adoption trends with technical experience and understanding F OR OUR CUS T OM ERS W IT HIN B Y T ES T HE N EXT OP P ORT UN IT Y ● Customers need access controls, data ● In-house
Slide 22: People and Investments: targeted approach
03 STRATEGIC REVIEW AND OUTLOOK People and Investments: targeted approach Measured hiring in the first half, with productivity rising, and further sales capacity joining in November 1,353 +4.4% +17.4% +13% Total headcount, up 1.7% in HY27 Front-line sales headcount, Technical delivery headcount, Gro
Slide 23: Summary
03 STRATEGIC REVIEW AND OUTLOOK Summary Executing a clear strategy: win more customers, grow share of wallet, and build higher-value recurring services Broad-based growth Simpler business Services accelerating Double-digit GP growth in both Sector alignment complete, with a Delivery capacity up 17.4
Slide 24: Q&A
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Slide 25: Appendix
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Slide 26: Technical guidance
APPENDIX Technical guidance Income statement Cash flow Share based payments c.£1m Intangible capex £nil Amortisation c.£2m Tangible capex c.£2m Net interest c.£6m Effective tax rate c.25.4% Average basic / diluted shares c.233m / c.241m 26 Bytes Technology Group | Results for the six months ended 31
Slide 27: How we grow
APPENDIX How we grow Our growth enablers People Vendors Customers We are a trusted advisor providing We grow great people to deliver amazing We turn leading vendor technologies into expertise, value, choice and dedicated things solutions and services service Engaged Incentivised Services Partnership
Slide 28: Our market continues to develop
APPENDIX Our market continues to develop Customer buying is changing. Vendor partner models are changing. 1 Per-seat licensing Consumption Cloud and AI models suit consumption where value tracks usage not licence counts 2 Point products Solutions Rising complexity means integrated, secured & cost- o
Slide 29: AI: The power of an integrated team
APPENDIX AI: The power of an integrated team Aligned with customers as the market accelerates A challenge such as deploying a secure AI agentic solution is not just an AI task We offer a collaborative, cross-practice approach We combine several practices AI Infrastructure Cloud security To design th
Slide 30: Sustainability integral to our mission
APPENDIX Sustainability integral to our mission Progress across our environmental, social and governance priorities EN VIRON M EN T AL ● 2025/26 Scope 1 and Scope 2 GHG reduction targets exceeded, through 100% renewable energy tariffs for our offices ● 10% reduction from prior year in greenhouse gas
Slide 31: Vendor awards
APPENDIX Vendor awards Microsoft Azure Expert MSP Check Point Elite Partner Microsoft Frontier Partner Exposure Management Partner of the Year UK – March 2026 Microsoft Copilot Specialisation Infinity Partner of the Year UK – March 2026 Microsoft verified Managed Extended Detection and Response (MXD