Slide 1: H1 2025 Results
H1 2025 Results BELYSSE: jtC modulyss § Clercedition BENTLEY:
Slide 2: Disclaimer
Disclaimer In considering any performance information contained herein, you should bear in mind that past or projected performance is not necessarily indicative of future results, and there can be no assurance that any entity referenced herein will achieve comparable results or that illustrative ret
Slide 3: Introduction
Introduction H] 2025 Financial Summary Financial Review Beyond Update Conclusion Q&A aOR ON oo James Neuling Andy Rogiest Ruben Pattheeuws Chief Executive Officer Chief Financial Officer Group Director of Sustainability and Strategic projects
Slide 4: Financial Summary
H1 2025 Financial Summary .9mM in H1 2024, (0.0 ‘S$ €68.8m in H (18.7)% organic (19.6)% + H12025 Consolidated Adjusted EBITDA of €17.3m vs €21.5 in Hl 2025 YoY Adj. EBITDA + US €15.6m vs €14.4m in HI 2024 growth (0.8)% FX impact + Europe €1.7m vs €7.1m in HI 2024 HI Net Debt 3.5x €126.8m + Net Debt
Slide 5: Financial Review
Financial Review
Slide 6: Q2 2025 Group Revenue
@2 2025 Group Revenue €m 74.5 (5.2) (62) (1.9) 67.4 Revenue @2 2024 Europe US Revenue Q2 2025 (16.3)% (4.4)% Organic (5.2) FX Impact (1.9) (2.5)% Reported (7.1) (9.5)% 2Q25 consolidated revenue was €67.4m (-9.5% YoY of which -2.5% FX) Fully driven by FX, US revenue decreased by 4.4% to €40.9m compar
Slide 7: Group Revenue
H1 2025 Group Revenue * 1H25 consolidated revenue was €134.6m 144.7 (-7.0% YoY of which -0,5% FX) (10.1) (0.0) 134.6 €m + In US, overall volumes and revenues in H1 2025 were stable vs. H1 2024, supported by solid performance in the corporate, education and healthcare segments * In Europe, revenue de
Slide 8: Group Adjusted EBITDA
H1 2025 Group Adjusted EBITDA Adj. EBITDA Margin (9%) 25 (4.0) 173 (0.2) (18.7% (0.8)% SEE (19.6)% EBITDA HI 2024 Growth FX Impact — EBITDAH1 2025 Europe 7 71 (76.0)% US 15.6 14.4 8.2% Consolidated Adjusted EBITDA 7.3 21.5 (19.6)% + 12025 Adjusted EBITDA was €17.3m (419.6% YoY) with an Adjusted EBIT
Slide 9: Cash Flow
H1 2025 Cash Flow €m! v7. 8 3.5 (0.2) (6.3) (4.8) 38.6 36.4 0.6) a9 2 € gg & & ¢ € £§ @ é & fo) g S = Rd g Sey = = § és & So OV & g & § Ss S of” sv ¢ é ¢ s && sv g S § g G CL Ss é ca S S < s*< “ 9g ’ Rounding adjustments have been made in calculating some of the financial information included in thi
Slide 10: Leverage stands at 3.5x, excluding IFRS lease liabilities
Leverage! stands at 3.5x, excluding IFRS 16 lease liabilities €m Cash LTM Adj. Cash EBITDA O22 O22, 4/22, 3/22 ad QB. 2/238. 3/28. 4/23. HI/24. HAA HI/25 Actual Proforma Proforma mmm Net Debt (€m) IERSI6 LtiLeverage' [EB Acjusted EBITDA (pre IFRS 16) | Cash excl. Undrawn Facilities ‘Leverage is defi
Slide 11: BEYOND update
BEYOND update
Slide 12: Our Lean program has delivered €0.8m savings in H1 2025
Our Lean program has delivered €0.8m savings in H1 2025 As areminder: objective of this Lean program is to deliver €8m cumulative savings over a 4-year period (2022 — 2025). H1 2025 results amount to €0.8m P&L savings vs. 2024. From the start in January 2022 until now, the Lean program has delivered
Slide 13: Conclusion
Conclusion H1 2025 Consolidated Revenue was €134.6m and Adjusted EBITDA was €17.3m, resulting in an Adjusted EBITDA margin of 12.8%. In the US, Adjusted EBITDA and Adjusted EBITDA margin improved with overall volumes and revenues remaining stable In Europe, the reported Adjusted EBITDA and Adjusted
Slide 14: Q3 2025 Update in October
Q3 2025 g Update in October 202