2026 Interim Financial Report

‌2026 Interim Financial Report

‌Contents

01.

Half-year 1

management report

Statutory Auditorsʼ 33

report on the interim

Key events in the first half of 2026 2

74Software reports strong H1 2026 results and raises full- 2

year guidances

financial statements

02.

Business Highlights 2

H1 2026 Operational Performance 3

H1 2026 Net Profit 5

Financial position at 30 June 2026 5

Share buy-backs 6

Change in the workforce 6

2026 Targets & Ambitions 6

Main risks and uncertainties for the second half of 2026 6

Events after the reporting period 6

Glossary - Alternative Performance Measures 7

Condensed interim 9

consolidated financial statements

Declaration 34

by the person responsible

for the interim financial report

Consolidated income statement 10

Consolidated statement of comprehensive income 10

Consolidated statement of financial position 11

Consolidated statement of changes in equity 12

Consolidated statement of cash flows 13

Notes to the condensed consolidated financial statements 14

01

‌Haṯf-year management report‌

Key events in the first half of 2026 2 Share buy-backs 6

74Software reports strong H1 2026 results and raises full-year guidances

2 Change in the workforce 6

2026 fiargets & Ambitions 6

Business Highlights 2

H1 2026 Operational Performance 3

H1 2026 Net Profit 5

Financial position at 30 June 2026 5

Main risks and uncertainties 6

for the second half of 2026

Events after the reporting period 6

Glossary - Alternative 7

Performance Measures

Interim Financial Report 2026 ◼ 74Software 1

‌Key events in the first half of 2026‌

The key events in the first half of 2026 were as follows:

• Group H1 2026 revenue of €367.0m, up 8.6% organically and 6.7% in total;

• Strong H1 across both brands - Axway up 11.7% to

  €174.6m and SBS up 5.9% to €193.3m;

• Marked improvement in margin on operating activities, up 317bps to 15.2% of revenue (€55.7m);

• ARR increased year-on-year by 11.2% at Axway and 8.9% at SBS, further strengthening recurring revenues.

  ‌74Software reports strong H1 2026 results and raises full-year guidances‌

  	H1 2026	H1 2025	Change / Ratio
  	€m	€m
  Revenue	367.0	337.8	Organic growth: 8.6%
  Product revenue	304.1	274.4	Organic growth: 10.8%
  o/w Recurring revenue	277.6	252.4	91.3% of Product revenue
  ARR at period-end - Axway	288.7	259.7	11.2% YoY at constant FX
  ARR at period-end - SBS	252.8	232.1	8.9% YoY at constant FX
  Profit on operating activities	55.7	41.3	Margin: 15.2%
  Net profit	27.4	5.8	Net margin: 7.5%
  Unlevered free cash flow	32.8	76.4	8.9% of revenue
  Net debt at period-end	181.3	191.8	Down €10.5m YoY; leverage: 1.39x

  Patrick Donovan, Chief Executive Officer, declared:

  "74Software delivered a strong first half of 2026, combining sustained organic growth with significant margin expansion. This performance reflects the resilience of our installed base, the enduring importance of our mission-critical software and disciplined execution across both Axway and SBS.

  As AI adoption moves from experimentation to industrialization, the ability to connect, govern and secure critical systems and

  data becomes increasingly important. This reinforces the strategic relevance of our portfolio and creates further expansion opportunities within our customer base. Based on our H1 execution and improved full-year visibility, we are raising our 2026 objectives while maintaining our focus on disciplined delivery and our 2028 ambitions."

  ‌Business Highlights‌

  74Software delivered strong growth across both brands in H1 2026, together with a significant improvement in profitability, underpinned by growth in subscriptions and licenses. The Group continued to strengthen its capabilities while maintaining disciplined capital allocation and preserving flexibility for selective M&A.

  • Axway delivered a strong first half, supported by Managed File Transfer, sustained momentum in the Americas and continued progress on its offer roadmap. Within MFT, the new Axway Workbench offer strengthened the portfolio by providing unified visibility and operational control across complex file-transfer environments. API Management also gained traction, notably through Amplify Fusion, Axway's unified integration offering combining API management, iPaaS and B2B/MFT capabilities, which recorded 48 wins year-to-date across modernization and extension use cases. The AI Gateway also strengthened the API Management

    business line by addressing the secure governance of enterprise AI usage.

• SBS maintained solid momentum as banks continued to modernize core platforms, lending operations and digital channels. Amplitude, one of SBS's integrated core banking offerings, recorded 11 signatures in H1, with particularly strong activity in Africa. Modular Products also gained further traction, including three new digital engagement signatures, while Financing Products benefited from sustained activity in the UK. SBS AI Foundation was officially launched in early July, with its first client already live. The new offering combines a governed data layer connected to SBS's product portfolio with an AI platform supporting use cases designed to augment bankers' day-to-day operations. AI-enriched versions of all key solutions are expected from early 2027.

  • Across both brands, artificial intelligence is being embedded where 74Software has durable advantages: governed connectivity, trusted data, domain-specific workflows and production-grade control. Axway enables enterprises to connect models and agents securely to existing systems while maintaining control over their interactions. SBS, meanwhile, is embedding AI into regulated banking processes built on structured data and established business logic. The Group's opportunity lies in enabling the industrialization of AI usage through integration, governance, observability and auditable workflows. This positioning is becoming increasingly relevant as customers move from isolated pilots toward scaled production deployments.

    The Group enters the second half of 2026 with greater visibility, supported by strong first-half execution and a structurally higher recurring revenue base. Quarterly performance will continue to reflect renewal cycles and contract phasing inherent to the software model, while the continued expansion of subscription revenue is enhancing predictability, as reflected in ARR growth across both brands.

    ‌H1 2026 Operational Performance‌

    Revenue by Portfolio Brand

    €m / %	H1 2026	H1 2025	H1 2025 Restated	Total Growth	Organic Growth
    Axway Scope	174.6	160.8	156.3	8.6%	11.7%
    SBS Scope	193.3	184.2	182.5	5.0%	5.9%
    Consolidation	-0.9	-1.0	-1.0	-3.7%	-3.7%
    74SOFTWARE	367.0	344.0	337.8	6.7%	8.6%

    H1 2026 revenue reached €367.0 million, up 8.6% organically, with Axway up 11.7% and SBS up 5.9%. Currency movements had a negative impact of €6.2 million, mainly reflecting the stronger euro against the US dollar and British pound.

    Revenue by Type

    €m / %	H1 2026	H1 2025	H1 2025 Restated	Total Growth	Organic Growth
    Product revenue	304.1	280.0	274.4	8.6%	10.8%
    Recurring revenue	277.6	258.0	252.4	7.6%	10.0%
    o/w Maintenance & Support	77.1	91.5	89.7	-15.7%	-14.1%
    o/w Customer-managed Subscription	124.4	97.7	95.7	27.3%	30.0%
    o/w Upfront Revenue	72.8	56.4	55.2	29.1%	31.9%
    o/w Recurring	51.6	41.3	40.5	24.9%	27.6%
    o/w Own-managed Subscription	76.1	68.7	67.0	10.7%	13.5%
    Licenses revenue	26.5	22.1	22.0	19.9%	20.6%
    Services revenue	62.9	64.0	63.5	-1.6%	-0.8%
    TOTAL REVENUE	367.0	344.0	337.8	6.7%	8.6%

    Product revenue reached €304.1 million, up 10.8% organically and representing 82.9% of total revenue. Recurring revenue increased 10.0% organically to €277.6 million, equivalent to 91.3% of Product revenue.

    Axway's Product revenue reached €157.2 million, up 13.0% organically, driven by continued recurring revenue growth and sustained demand across the MFT and API Management product lines.

    SBS's Product revenue reached €147.8 million, up 8.5% organically, supported by solid momentum across its main business lines, notably Integrated Products, Financing Products, and Modular Products.

    Services revenue declined slightly to €62.9 million from

    €64.0 million in H1 2025, as the Group continued to focus on higher-value services supporting delivery and product adoption. Services represented 17.1% of Group revenue, down from 18.6%.

    ARR by Product Line

    14%

    15%

    19%

    43%

    20%

    42%

    H1'25

    24%

    23%

    18%

    20%

    27%

    26%

    H1'25

    12%

    42%

    13%

    42%

    
    
    

    H1'26

    Managed File Transfer B2B Integration
    
    API Management Specialised Products
    
    

    H1'26

    Financing Products Modular Products
    
    Integrated Products Banking Components
    
    

    On June 30, 2026, Axway ARR amounted to €288.7 million, up 11.2% at constant exchange rates, led by strong growth in APIM, up 18.9%, and Managed File Transfer, up 13.5%. SBS ARR

    Profit on Operating Activities

    reached €252.8 million, up 8.9% at constant exchange rates, driven by Modular Products (+13.7%), Financing Products (+12.7%) and Integrated Products (+10.5%).

    	H1 2026		H1 2025		Change
    	€m % of Rev.	€m	% of Rev.	€m	Basis Points
    Product revenue	304.1 82.9%	280.0	81.4%	+24.0	+144
    Services revenue	62.9 17.1%	64.0	18.6%	-1.0	-144
    Total revenue	367.0	344.0		+23.0
    Total costs of revenue	120.2	115.9		+4.3
    Gross profit	246.8 67.2%	228.1	66.3%	+18.7	+95
    o/w product gross profit	236.4 77.7%	217.9	77.8%	+18.5	-6
    o/w services gross profit	10.4 16.6%	10.2	15.9%	+0.2	+63
    Operating expenses	154.3 42.0%	156.0	45.4%	-1.8	-332
    o/w research & development	90.5 24.7%	93.2	27.1%	-2.7	-243
    o/w sales & marketing	63.7 17.4%	62.8	18.3%	+0.9	-89
    Brand Contribution	92.5 25.2%	72.1	20.9%	+20.5	+427
    o/w general & administrative	36.9 10.0%	30.8	8.9%	+6.1	+110
    Profit on operating activities	55.7 15.2%	41.3	12.0%	+14.4	+317
    Net Capitalisation of R&D	6.7 1.8%	8.4	2.4%	-1.6	-60
    in % of gross R&D	6.9%	8.2%			-132

    In H1 2026, profit on operating activities increased by 34.8% to

    €55.7 million, lifting the margin by 3.2 points to 15.2%, compared with €41.3 million and 12.0% in H1 2025. This strong operating leverage was supported by revenue growth, a more favorable product mix and disciplined cost and resource management.

    Gross profit increased by 8.2% to €246.8 million, with the gross margin expanding to 67.2%, compared with 66.3% in H1 2025. Research & Development decreased by €2.7 million while Sales &

    Marketing expenses grew marginally, resulting in a strong increase in brand contribution to €92.5 million, representing 25.2% of revenue, compared with €72.1 million and 20.9% in H1 2025.

    Centrally managed G&A expenses increased to €36.9 million, compared with €30.8 million in the prior year period. This increase to 10.0% of revenue was driven by investments in Group capabilities, increased bonus accruals based on higher H1 profitability, as well as timing effects expected to normalize over the full year.

    ‌H1 2026 Net Profit‌

    Net profit more than quadrupled year-on-year, driven by higher profit on operating activities, lower other operating charges and an improved financial result.

    	H1 2026		H1 2025		Change
    	€m % of Rev.	€m	% of Rev.	€m	Basis points
    PROFIT ON OPERATING ACTIVITIES	55.7 15.2%	41.3	12.0%	14.4	+317
    Share-based expenses	-4.5	-6.7		2.1
    Amortisation of allocated intangibles	-5.9	-6.2		0.2
    PROFIT FROM RECURRING OPERATIONS	45.2 12.3%	28.4	8.3%	16.8	+405
    Other operating income and expenses	-1.2	-8.9		7.7
    OPERATING PROFIT	43.9 12.0%	19.5	5.7%	24.4	+630
    Cost of financial debt	-6.6	-9.0		2.5
    Other financial income and expenses	-2.8	-2.2		-0.6
    Income tax expenses	-7.1	-2.5		-4.7
    NET PROFIT	27.4 7.5%	5.8	1.7%	21.6	+577
    Earnings per share	€0.94	€0.20		€0.74

    Profit from recurring operations reached €45.2 million, representing 12.3% of revenue, compared with €28.4 million and 8.3% in H1 2025. Share-based expenses decreased to

    €4.5 million from €6.7 million, reflecting the absence of the one-off adjustment to social-security provisions that affected the prior-year period following the change in French law.

    Other operating income and expenses represented a net charge of €1.2 million, compared with a net charge of €8.9 million in H1 2025. The charge for H1 2026 is mainly related to integration expenses, while the prior year included significant restructuring

    charges. As a result, operating profit reached €43.9 million, or 12.0% of revenue, compared with €19.5 million and 5.7% in the prior-year period.

    After a net financial expense of €9.4 million and an income tax charge of €7.1 million, net profit increased to €27.4 million, representing 7.5% of revenue, compared with €5.8 million and 1.7% in H1 2025. Earnings per share reached €0.94, compared with €0.20 in the prior year period.

    ‌Financial position at 30 June 2026‌

    As of June 30, 2026, 74Software maintained a strong financial position, using its cash generation to further reduce net debt while repurchasing shares.

  • Unlevered free cash flow amounted to €32.8 million, representing 8.9% of revenue, compared with €76.4 million and 22.2% in H1 2025. The year-on-year decrease mainly reflected the swing from a €55.0 million working-capital inflow in H1 2025 to a €7.8 million outflow in H1 2026, driven by strong growth in customer-managed subscriptions, an unfavorable year-on-year factoring effect and a more balanced seasonal pattern of revenue and collections, resulting in a shift in cash generation from H1 to H2. Excluding working-capital movements, operating cash flow increased to €61.8 million from €34.6 million, reflecting stronger underlying operating performance.

• Net debt was reduced to €181.3 million, from €193.0 million on December 31, 2025. The Group's leverage ratio improved to 1.39x on June 30, 2026, compared with 1.71x on December 31, 2025, on a comparable basis under the revised definition introduced following the April 2026 refinancing. Equity increased to €577.1 million and net debt declined to 23.9% of total capital from 27.2% on June 30, 2025.

  Together with the Group's growing recurring revenue base and improving profitability, the Group's stronger financial profile supports greater visibility in international capital markets. 74Software continues to explore alternatives to improve trading liquidity in its shares. Over the first six months of 2026, average daily trading volumes on Euronext Paris more than doubled compared with the same period in 2025.

  ‌Share buy-backs‌

  As announced with its FY 2025 results, 74Software intends to repurchase up to 800,000 shares during 2026 to cover its employee long-term incentive plans. On June 30, 2026, the Group had repurchased 421,052 shares for €14.1 million, at a weighted average price of €33.43 per share, leaving up to 378,948 additional shares available for potential repurchase during the remainder of the year.

  ‌Change in the workforce‌

  On June 30, 2026, the Group employed 4,527 full-time equivalents, compared with 4,679 on June 30, 2025 and 4,571 at December 31, 2025. This evolution reflects continued resource discipline across both brands, while preserving the capabilities required for customer delivery, product development and strategic execution. Investment remained focused on cloud, automation, AI-related initiatives and selected customer-facing expertise.

  ‌2026 fiargets & Ambitions‌

  Considering the strong H1 revenue growth, significant margin expansion and increased visibility provided by its recurring revenue base, 74Software is raising its 2026 guidance.

  2026 Guidance and Medium-term ambition

  FY 2026 Updated Guidance at constant exchange rates
  Medium-term ambition

  • Organic revenue growth: 3% to 5% 4% to 6%

  • Margin on operating activities: 15% to 17% 16% to 18%

  • Unlevered free cash flow: around 10% of revenue (unchanged)

  • Revenue close to €800m and margin on operating activities ~ 20% by end-2028

  • €1bn revenue ambition over the medium term, including selective acquisitions

  ‌Main risks and uncertainties for the second half of 2026‌

  The level and nature of the risks to which the Group is exposed are unchanged on the risk factors presented on pages 41 to 56 of the 2025 Universal Registration Document.

  ‌Events after the reporting period‌

  Between 1 July 2026 and the date of the Board of Directors' meeting held on 23 July 2026, there were no other significant events likely to impact the financial statements.

  ‌Glossary - Alternative Performance Measures‌

  • Axway ARR: Annual Recurring Revenue - Expected annual billing amounts from all active maintenance and subscription agreements.

  • Brand Contribution: Contribution to profit on operating activities generated by Axway and SBS before centrally managed general and administrative expenses.

  • SBS ARR: Annual Recurring Revenue - Monthly recurring revenue (MRR) for the last month of the reporting period multiplied by 12. Where contracts are affected by seasonality or contracted volume-based elements, the last 12 months of revenue are aggregated in determining ARR. Expected recurring revenue from contracts signed but not yet active is not included in ARR.

  • NPS: Net Promoter Score - Customer satisfaction and recommendation indicator for a company.

• Organic growth: Growth in revenue between the period under review and the prior period, restated for consolidation scope and exchange rate impacts.

• Profit on operating activities: Profit from recurring operations adjusted for the non-cash share-based payment expense, as well as the amortization of allocated intangible assets.

• Proforma: Proforma measures assume the acquisition of SBS happened at the beginning of the respective reporting period.

• Restated revenue: Revenue for the prior year, adjusted for the consolidation scope and exchange rates of the current year.

• Unlevered free cash flow: Free cash flow before exceptional items and before net interest expense.

02

‌Condensed interim consoṯidated financiaṯ statements‌

Consolidated income statement 10

Consolidated statement of cash 13

flows

Consolidated statement of comprehensive income

Consolidated statement of financial position

Consolidated statement of changes in equity

10

Notes to the condensed 14

consolidated financial statements

11

12

Interim Financial Report 2026 ◼ 74Software 9

‌Consolidated income statement‌

Net income per share - attributable to owners of the Company

‌Consolidated statement of comprehensive income‌

‌Consolidated statement of financial position‌

6ээс*э Eqsi*y ank ṯiadiṯi*iсэ

‌Consolidated statement of changes in equity‌

‌Consolidated statement of cash flows‌

The closing cash position is equal to Cash and cash equivalents less bank overdrafts.

‌Notes to the condensed consolidated financial statements‌

‌Contents

Contents

14

Note 1 Accounting policies 15

Note 2 Key events and scope of consolidation 16

Notes to the consolidated income statement

17

Note 3 Segment reporting 17

Note 4 Revenue 19

Note 5 Employee costs 20

Note 6 Purchases and external expenses 21

Note 7 Share-based and similar payment expenses 21

Note 8 Other operating income and expenses 22

Note 9 Financial income and expense 22

Notes to the consolidated statement of financial

24

position

Note 12 Goodwill 24

Note 13 Leases 25

Note 14 Trade receivables and related accounts 25

Note 15 Equity 26

Note 16 Financial debt - Net debt 27

Note 17 Change in net debt 28

Note 18 Current deferred income 29

Note 19 Other current liabilities 30

Other information

31

‌ Note 1 Accounting policies‌

The condensed interim consolidated financial statements for the half-year ended 30 June 2026, together with the accompanying notes, were prepared under the responsibility of the Board of Directors and approved at its meeting of 23 July 2026.

At this stage, the analyses conducted confirm that the main expected effects concern the presentation of the financial statements and required disclosures, with no expected impact on the Group's economic performance, financial position or equity.

The work carried out during the half year identified certain items currently presented in net financial income that will need to be classified in the Operating category. These items relate in particular to research tax credit financing costs, certain foreign exchange effects related to operating activities and other financial income and expenses directly related to the Group's current operations.

In addition, pursuant to IFRS 18, share-based payment expenses (IFRS 2), amortisation of intangible assets recognised in business combinations, and other operating income and expenses would continue to be included in operating income.

The Group is also continuing work on the performance measures used in its financial reporting. Several measures currently monitored by Management are being analysed in light of IFRS 18 provisions relating to Management Performance Measures (MPM). No final decision has been made at this stage on which measures will be presented as MPMs when the standard is first applied. Where applicable, these measures will be formally defined and reconciled with corresponding IFRS subtotals.

Lastly, the Group continues to assess the potential consequences of the standard on the presentation of the Statement of cash flows and the disclosures to be provided in the notes.

‌ Note 2 Key events and scope of consolidation‌

a. Dcconsoṯmka"ck cn"m"mcs

Field Solutions Limited in the United Kingdom was liquidated in the first half of 2026.

d. Tcwṯy-consoṯmka"ck cn"m"mcs

No entities entered the scope of consolidation in the first half of 2026.

‌Notes to the consolidated income statement‌

‌ Note 3 Segment reporting‌

6xway

SBS

7hSofi"wamc

‌ Note 4 Revenue‌

The breakdown by region is presented in Note 3.2 "Revenue by region".

‌ Note 5 Employee costs‌

‌ Note 6 Purchases and external expenses‌

SBS purchases totalled €19.9 million in the first half of 2026, down year-on-year in line with the scheduled gradual termination of subcontracting contracts with Sopra Stéria Group as part of the integration of SBS.

Axway purchases totalled €13.9 million and are stable on the first half of 2025.

Purchases of subcontracting services mainly comprise cloud hosting costs supporting the growth of the Subscription activity.

‌ Note 7 Share-based and similar payment expenses‌

A new free share grant plan was set up by the Group in H1 2026. On 25 February 2026, the Board of Directors approved the "LTI PLAN ONE" plan involving the grant of 340,600 shares, including 49,000 shares to the Chief Executive Officer, Patrick Donovan, and the Deputy Chief Executive Officer, Eric Bierry. The plan will vest between February 2026 and March 2029 and includes presence and performance conditions.

The features of other current plans are described in Note 5.4 of Chapter 5 "Consolidated financial statements" of the 2025 Universal Registration Document.

Expenses relating to free performance share grant plans totalled €4.5 million in H1 2026, including employer social security contributions of €0.4 million.

The decrease in employer social security contributions (-€1.8 million) is mainly due to the higher social security contribution rate in France and the change in the share price observed at 30 June 2025.

The April 2023 "LTI PLAN WINNING" free share grant plan was settled on 31 March 2026, with the presentation of 267,167 treasury shares to the Axway Leadership team, members of the Executive Committee and other individuals considered key for the Group. 30,000 treasury shares were presented to the Chief Executive Officer, Patrick Donovan.

‌ Note 8 Other operating income and expenses‌

In the first half of 2026, 74Software performed material non-current transactions representing a total expense of €1.2 million and primarily comprising Workday Cloud implementation costs.

‌ Note 9 Financial income and expense‌

Other financial expenses mainly comprise unamortised transaction costs associated with the financing repaid early as part of the bank refinancing secured on 22 April 2026, expensed during the period (€3.0 million). They also include research tax credit financing costs of €0.6 million in H1 2026.

‌ Note 10 Income tax expense‌

The Group effective tax rate is 20.68% in H1 2026, compared to 29.87% in H1 2025 and 23.07% in fiscal year 2025.

Deferred tax assets relating to tax losses carried forward are recognised if it is probable that future taxable profits will be available to enable their offset.

At 30 June 2026, capitalised tax losses are similar in amount to 31 December 2025.

74Software SA

Tax losses recognised in France are capitalised in the amount of €89.0 million, representing a total deferred tax asset of

€23.0 million.

Axway Inc.

Tax losses recognised in the United States are capitalised in the amount of €81.8 million (US$93.1 million), representing a total deferred tax asset of €17.2 million.

SBS Software SA

At 30 June 2026, no deferred tax assets are recognised in respect of SBS Software SA tax losses.

Other subsidiaries

The Group did not capitalise any additional tax losses at 30 June 2026 compared to 31 December 2025.

International tax reform - Pillar 2

74Software Group falls within the scope of the OECD Pillar 2 rules to introduce a minimum level of taxation of 15% in each jurisdiction. 74Software Group is impacted by this tax reform through its holding company Sopra GMT whose consolidated revenue exceeds €750 million.

Five jurisdictions (United States, Ireland, Luxembourg, Tunisia and Switzerland) did not meet the "Safe Harbour" tests for fiscal year 2024, and a detailed GloBE income calculation was therefore performed for these jurisdictions. The calculations based on 2024 data were finalised at 30 June 2026 and did not reveal any significant top-up tax for the Group.

Based on the analyses performed at 30 June 2026, the Group has not identified any significant Pillar 2 impact on its consolidated financial statements.

In accordance with the amendments to IAS 12, the Group applied the mandatory temporary exception to the accounting for deferred taxes arising from Pillar 2. No deferred tax is therefore recognised in respect of these rules.

‌ Note 11 Earnings per share‌

‌Notes to the consolidated statement of financial position‌

‌ Note 12 Goodwill‌

In accordance with IAS 36, the Group has considered the latest economic information available at the interim reporting date. Uncertainties related to US trade tensions and tariff policy could indirectly impact some of the markets where the Group operates.

At this stage, no specific indications of impairment loss have been identified for the Group's cash-generating units (CGUs) in relation to these tariff risks.

Nevertheless, the Group is closely monitoring developments in the political and economic environment and reserves the right to reassess the recoverable amount of its assets in the event of a significant change in macroeconomic conditions during the second half of the year.

At 30 June 2026, the revenue and operating financial performance of each of these CGUs are in line with Management expectations.

In the absence of any indication of impairment loss in the first half of 2026, the Group did not perform any impairment tests at 30 June 2026.

At 30 June 2026, the Group's market capitalisation on NYSE Euronext was €1,059 million (i.e. €1,038 million after 2% estimated disposal costs), above the Group's consolidated equity of €577 million at the same date.

It is recalled that impairment tests conducted at 31 December 2025 using a discounted cash flow approach produced the following valuations:

• Axway CGU: €1,035 million;

• SBS CGU: €605 million.

Sensitivity analyses were performed assuming a change in the WACC of ±1%, instead of the usual change of ±0.5%. These alternative scenarios did not lead to the recognition of an impairment loss on intangible assets.

‌ Note 13 Leases‌

‌ Note 14 firade receivables and related accounts‌

DSO (Days Sales Outstanding) calculated based on total "Trade receivables and related accounts" is 145 days at 30 June 2026, up on the end of 2025 (135 days).

Axway's DSO is 175 days. DSO is high due to the "Customer-Managed" business model, where 50% of the contract is recognised immediately ("upfront fees") while collection is spread over the contract's multi-year term. It is important to note that Axway's receivables schedule shows a high level of collection.

The decrease in Trade Receivables was due to more favourable seasonality of collections during the half year.

SBS's DSO is 117 days at 30 June 2026, mainly due to a different invoicing model from that used by Axway, less exposed to Customer-Managed contracts.

Factoring agreement covering trade receivables

At 30 June 2026, assigned trade receivables totalled

€15 million, representing a 6-day reduction in DSO.

At 30 June 2025, assigned trade receivables totalled

€12.5 million.

Ma"smm"y ofi "makc mcccmuadṯcs

Maturity of Axway trade receivables

Of which: not Of which: not impaired at the reporting date but past due as follows

Maturity of SBS trade receivables

Of which: not Of which: not impaired at the reporting date but past due as follows

A material share of receivables past due more than one year concern customers in the Middle-East and Africa region where recovery periods are historically longer, mainly due to administrative constraints and foreign exchange restrictions in some countries. These receivables are closely monitored and are not considered to be impaired as long as their recovery is judged probable.

‌ Note 15 Equity‌

At 30 June 2026, treasury shares with a value of €20.4 million are deducted from consolidated equity. They comprise 663,477 shares, including 649,002 shares acquired by 74Software for delivery as share-based payments and 14,475 shares held under the market-making agreement.

‌ Note 16 Financial debt - Net debt‌

The Group hedges part of its interest rate risk on its Term Loan by entering into a series of caps and floors designated as cash flow hedges.

At 30 June 2026, 74Software had hedged a nominal amount of

€70 million, with a fair value impact of €0.3 million, recorded in other comprehensive income.

‌ Note 17 Change in net debt‌

(in thousands of euros) 30/06/2026 31/12/2025

The Group reported a strong performance in H1 2026, combining EBITDA of €69.2 million with an increase in working capital requirements (WCR) of €7.8 million.

The change in Axway WCR represented a net cash outflow of

€10.0 million, a deterioration of €35.6 million year-on-year.

The change in SBS WCR represented a net cash inflow of

€2.2 million, down on the H1 2025 inflow of €29.4 million. The collection of subscription invoices is spread over a longer period than for maintenance invoices which follow the calendar year.

Cash inflows are traditionally higher in the first half of the year than the second half. This is due to the collection of invoices for the renewal of maintenance and subscription contracts generating significant cash inflows at the beginning of the year.

The trade receivables factoring programme and tax credit financing facility helped optimise WCR in the amount of

€15.0 million and €5.1 million, respectively, in line with 30 June 2025 (€12.5 million and €4.3 million) .

Axway free cash flow (FCF) amounted to €19.9 million, down on

€44.1 million in H1 2025. SBS FCF is €6.9 million at 30 June 2026, compared to €15.6 million one year previously.

No dividends were paid during the period.

Taking into account net interest paid (€5.4 million) and restructuring costs (€0.6 million), 74Software generated unlevered free cash flow of €32.8 million in H1 2026, representing 8.9% of revenue. The Group expects Unlevered FCF of around 10% of revenue at 31 December 2026.

Net debt was €181.3 million at 30 June 2026.

‌ Note 18 Current deferred income‌

Current deferred income, representing customer contract liabilities, is presented in Note 7.6 to the 2025 Universal Registration Document. Movements reflect:

• the recognition of prior-year deferred income in revenue;

• the transfer of prior-year non-current deferred income to current deferred income;

• the emergence of new liabilities as a result of services invoiced but not yet fulfilled.

  To avoid the overstatement of asset and liability accounts, deferred income concerning trigger events after 1 January (1 January 2026 for this period) and the corresponding trade receivables not settled at the previous reporting date

  (31 December 2025) were offset in the balance sheet at 31 December 2025. There was no offset at 30 June.

  Some current customer contract liabilities at 31 December 2025 were recognised in revenue in the first half of 2026.

  Compared to 31 December 2025, current deferred income increased mainly due to the reverse offsetting of deferred income at 30 June 2026 and the signature of Axway Managed subscription contracts.

  In addition, SBS's business model, comprising a significant share of Maintenance activity, ensures significant advance customer cash receipts during the first half of 2026.

  ‌ Note 19 Other current liabilities‌

  (in thousands of euros)	30/06/2026	31/12/2025
  Amounts payable on non-current assets	61	-12
  Advances and payments on account received for orders	493	81
  Employee-related liabilities	78,645	95,777
  Tax-related liabilities	35,318	31,993
  Income tax	16,261	23,789
  Other liabilities	8,808	9,530
  TOTAL OTHER CURRENT LIABILITIES	139,585	161,158

  The decrease in Employee-related liabilities is due to the seasonal nature of commission and bonuses provided at 31 December 2025, which exceed those provided at 30 June 2026.

  ‌Other information‌

  ‌ Note 20 Related-party transactions‌

  Agreements entered into with parties related to the 74Sotware Group were identified in Chapter 4.2 "Regulated agreements and assessment of everyday transactions" in 74Software's 2025 Universal Registration Document, filed with the French Financial Markets Authority (AMF) on 24 March 2026, under no. D. 26-0134 and available on the Company's website at https://www.74software.com/investor-relations. The 74Software 2025 Universal Registration Document also includes the Statutory Auditors' report on regulated agreements.

  To date, excluding those agreements described in the 2025 Universal Registration Document, to the best of the Company's knowledge, there were no new 74Software Group related-party agreements in H1 2026 likely to have a material impact on the Company's financial position or results during the period.

  ‌ Note 21 Off-balance-sheet commitments and contingent liabilities‌

  The Revolving Credit Facility is a confirmed liquidity line

  NEU CP and NEU MTN programme

  On 5 March 2026, the Group established Negotiable European Commercial Paper (NEU CP) and Negotiable European Medium Term Note (NEU MTN) programmes, allowing the Group to access short- and medium-term capital markets.

  https://www.74software.com/NEUCP_NEU MTN

  The following amounts are the authorised issue ceilings for these programmes and are not necessarily the amounts issued at the period end.

• €200 million short-term NEU CP programme;

• €100 million medium-term NEU MTN programme.

  Refinancing

  On 22 April 2026, the Group agreed new bank documentation as part of the refinancing of its financial debt.

  https://www.74software.com/refinancing

  The main financing facilities available at 30 June 2026 are:

• a new €180 million revolving credit facility, maturing in 2031, with two extension options; and

• a new €230 million amortising term loan, maturing in 2031.

available to the Group and may be used to finance general business needs, external growth transactions and temporary cash requirements.

All of these arrangements contribute to diversifying the Group's sources of financing and strengthening its financial flexibility.

Financial covenants

The new bank facilities are subject to compliance with customary market financial commitments.

Two financial ratios must be met under these covenants:

• "net debt/consolidated EBITDA" ratio below 3.00 throughout the term of the loan;

• "net debt/equity" ratio below 1.0 throughout the term of the loan;

At 30 June 2026, the Group complies with all applicable financial commitments and has significant headroom compared to contractual thresholds.

With the exception of these agreements, commitments have not significantly changed since 31 December 2025.

‌ Note 22 Exceptional events and legal disputes‌

To the best of the Group's knowledge, and notwithstanding the information provided herein, at the date of this report, no disputes or litigation known or ongoing are likely to have a significant negative impact on the Group's financial position.

‌ Note 23 Events after the reporting period‌

There were no significant events likely to impact the financial statements between 1 July 2026 and the Board of Directors' meeting on 23 July 2026.

‌Statutory Auditorsʼ report on the interim financial statements‌

This is a translation into English of the Statutory Auditors' report on the interim financial statements of the Company issued in French and it is provided solely for the convenience of English-speaking users. This report should be read in conjunction and construed in accordance with French law and professional auditing standards applicable in France.

To the Shareholders,

In compliance with the assignment entrusted to us by your General Meeting and pursuant to Article L. 451-1-2 III of the French Monetary and Financial Code (code monétaire et financier), we have:

• conducted a limited review of the accompanying condensed interim consolidated financial statements of 74Software for the period from 1 January to 30 June 2026;

• verified the information provided in the half-year management report.

These condensed interim consolidated financial statements are the responsibility of the Board of Directors. Our role is to express a conclusion on these financial statements based on our limited review.

1. Conclusion on the financial statements

   We conducted our limited review in accordance with the professional standards applicable in France.

   A limited review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with professional standards applicable in France and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit.

   Based on our limited review, nothing has come to our attention that causes us to believe that these condensed interim consolidated financial statements are not prepared in all material respects in accordance with IAS 34, as adopted by the European Union applicable to interim financial information.

2. Specific verification

We have also verified the information presented in the half-year management report commenting on the condensed interim consolidated financial statements that were the subject of our limited review.

We have no matters to report as to its fair presentation and consistency with the condensed interim consolidated financial statements.

The Statutory Auditors

Forvis Mazars SA

Levallois-Perret, 28 July 2026

ACA Nexia

Paris, 28 July 2026

Jérôme Neyret Partner

Olivier Juramie Partner

‌Declaration by the person responsible for the interim financial report‌

"I declare that, to the best of my knowledge, the condensed interim consolidated financial statements for the half-year ended have been prepared in accordance with applicable accounting standards and give a true and fair view of the assets, liabilities, financial position, and profit or loss of the 74Software Group and of all the entities included in the scope of consolidation, and that this Interim financial report provides a fair review of the significant events that occurred in the first six months of the fiscal year and their impact on the financial statements, and of the main transactions between related parties, as well as a description of the main risks and uncertainties for the remaining six months of the fiscal year."

Paris La Défense, 28 July 2026

Patrick Donovan

Chief Executive Officer

‌74Software

Société Anonyme with a share capital of €59,492,388 Registered office: PAE Les Glaisins, Annecy-le-Vieux, 74940 Annecy France

433 977 980 R.C.S. Annecy France

Design and production: Ruban Blanc https://www.rubanblanc.fr

Photo credits: Getty Images

‌Mission-Critical Software for a Data-Driven World

74Software is home for leading brands with mission-critical enterprise applications and infrastructure software serving a growing range of markets and geographies

- each with their own identities and value propositions.

FRANCE

Tour Trinity

1 bis Place de La Défense 92400 Courbevoie - France Tel. +33 (0) 1.47.17.24.24

USA

16220 N Scottsdale Road, Suite 500

Scottsdale, AZ 85254

Tel: +1.480.627.1800

WWW.74SOFTWARE.COM