Investor Conference Presentation November 2025 New

‌Investor Presentation November 2025

‌Trading update

The Board anticipates that the Group's financial performance for the full year 2025 will be in line with its expectations.

The economic and geopolitical uncertainty which has been widely reported across our markets continues to undermine client confidence, which impacts the length of their decision cycles and demand for our Consultants. However, since the summer, there has been a degree of pick-up in activity levels in some of our key operating geographies. In response to these early indicators we have cautiously increased our volume of consultants in training in the UK, North America and Australia. We are hopeful that this pick-up in activity levels will continue.

The Group had 2,003 Consultants assigned to clients at 31 October 2025 (30 June 2025: 2,173), (31 October 2024: 2,906).

The Group has a robust balance sheet, with £40.1 million of cash at 31 October 2025 (30 June 2025: £34.6 million), (31 October 2024:

£47.7 million) and no debt. An interim dividend of 6 pence per share, amounting to £6.6 million, is due to be paid on 14 November 2025 (2024: 10 pence per share, amounting to £10.9 million, paid on 1 November 2024).

We continue to take the appropriate measures to adjust our resources to align with market conditions, prudently managing our cost base while remaining sufficiently agile to respond to evolving client demand.

1 FDM Group (Holdings) plc - Investor Presentation November 2025

‌FDM Group

FDM was formed in 1990 and has been listed on the London Stock Exchange since 2014.

FDM today comprises c. 3,000 employees across 18 offices in five continents, has a robust balance sheet, no debt and £40m+ of cash. The Group has traded profitably throughout the past thirty-plus years and is a leader in ESG standards across its business. Approximately 20% of FDM's equity is held by its employees, the balance being held by many large institutional investors across the globe.

The group has c. 300 clients across multiple sectors ranging from banking, insurance, wealth management, retail, Government, hospitality and energy.

3,000+

employees

300+

Clients worldwide

25,000+

Careers launched

20,000+

FDM alumni

£20m

Annual investment in talent

Operating in:

• United Kingdon

• United States

• Canada

• Ireland

• Germany

• Switzerland

• Luxembourg

• Netherlands

• South Africa

• Poland

• Hong Kong

• Singapore

• China

• Australia

• New Zealand

• Malaysia

2 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Powering the industry since 1991

• FDM founded, providing IT experts to support projects using Informix-4GL

• 100 consultant careers launched

  1990's

• Flagship UK Academy launched, training consultants in Java development

• Launch of Graduate Careers Programme

• 1,000 consultant careers launched

  2010's

  2000's

  • Expansion into APAC, NA and European markets

  • Listing on LSE in 2014

  • Launch of Returners and Ex-Forces Careers Programme

  • Over 10,000 consultant careers launched

    2020's

  • Consulting Services launched

  • Featured in the Social Mobility and FTSE4Good indexes

  • Agile Skills Lab ecosystem training

  • Launch of Apprentice Programme in UK

  • £20m+ annual investment in talent

  • 25,000+ consultant careers launched

Anticipating the future and providing solutions

to keep businesses one step ahead

3 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Key metrics

4,703 4,905 4,602

3,841 4,033

3,892

3,469

96.9% 97.3% 97.6% 97.4%

93.4% 92.8% 91.5% 92.9% 91.6% 93.3%

2,578

2,173

2,003

H1-21 H2-21 H1-22 H2-22 H1-23 H2-23 H1-24 H2-24 H1-25 H1-21 H2-21 H1-22 H2-22 H1-23 H2-23 H1-24 H2-24 H1-25 Q3-25

252

100

208

165 176

112 92

256

70 66

40 46 42

Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 2021 2022 2023 2024 2025

4 FDM Group (Holdings) plc - Investor Presentation November 2025

1 The business uses the metric 'Consultant utilisation' to monitor all deployed Consultants. Utilisation rate is calculated as the ratio of the cost of deployed Consultants to the total Consultant payroll cost

‌Assignment split by Industry

June 2022 October 2025

8%

1%

32% 3%

3%

5%

6%

6%

55%

44%

7%

4%

3%

5%

5%

10%

38%

56%

13%

68%

10%

18%

5 FDM Group (Holdings) plc - Investor Presentation November 2025

¹ Other includes industries such as: Consumer services, Media G Entertainment, Automobiles G Components, Health Care Equipment G Services, Utilities, Capital Goods, Materials, Telecommunication Services, Transportation

‌Why clients like our model: Flexible, Value and Quality…

Flexible

• Access to a pre-vetted talent pool of trained professionals that can be effective quickly

• Clients can scale up and down - FDM retains employment responsibility for consultants

• Global reach - we operate internationally providing access to a diverse and global talent pool

  Value

• Employee retention - consultants commit to a minimum of two years, ensuring continuity of resources, many clients then choose to internalise the consultants

• Try before you buy - enhanced permanent outcomes with no conversion fees, after tenure requirements met

• Cost effective compared to all in cost of internal hire

• Price point is competitive compared to Consultancies

  Quality

• Our consultants complete Tech Industry Gold standard accredited coaching in our Skills Lab prior to deployment

• FDM provides access to cutting edge or niche skills without the investment cost or long-term hiring commitment, allowing clients to stay ahead of the tech skills gap

• Our 5 practices and established partnerships with some of the world's most innovative organisations provide a wide breadth of access to different skillsets and technologies

• Whole Pods and Delivery teams. Outcome focussed and Delivery and Management Excellence ensures optimal client ROI

6 FDM Group (Holdings) plc - Investor Presentation November 2025

‌FDM Practices

FDM Practices enhance our ability to respond to clients' needs as they look for more specific, detailed and nuanced skillsets within each job role.

Software Engineering

(Headcount: 654)

Change & Transformation

(Headcount: 631)

IT Operations

(Headcount: 326)

Risk, Regulation & Compliance

(Headcount: 177)

Data & Analytics

(Headcount: 215)

7 FDM Group (Holdings) plc - Investor Presentation November 2025

‌AI - MOVING FROM THE HYPE TO ADOPTION

The market at the moment is looking for Consultants well versed in the application of AI tools and methodologies, while seeking those with a thorough understanding of the broader ecosystem of AI; from adoption, governance, and compliance to business integration and generating measurable returns.

What FDM is seeing in the marfiet:

FDM clients are slowly moving from the talk phase to the evaluation phase for AI.

Clients are experimenting with multiple AI platforms from Anthropic to IBM Watson and others, testing capabilities before committing to strategic adoption

Organisations are using AI to drive efficiency, enhance data analytics, and accelerate decision-making.

There is a clear trend toward re-imagining the worfiforce, integrating AI tools to rebalance tech and operations headcounts with the desire to focus on strategic outcomes and attempt to boost productivity.

Clients are seeking cost efficiencies from traditional operations while simultaneously upsfiilling their people to operate confidently in an AI-enabled environment.

FDM's diverse consultant universe across age, ability, bacfiground, and mindset

positions us ideally to help clients navigate this evolution.

The Appendices to this presentation contain two case studies with detail on recent projects for two of our clients:

1. a Major International Bank for Basel III; and

2. a Government Agency for risk assessment of defence projects.

8 FDM Group (Holdings) plc - Investor Presentation November 2025

• Prompt Engineering

• Conversational engineering

• AI Model Training

• AI Data Governance Analysis

• AI Business Integration

• AI-Augmented Software Engineering

• AI and Compliance, Regulation and Governance

• AI and Cybersecurity

  By combining strong technical skills with the right mindset and behaviours including curiosity, clarity, and credibility; FDM Consultants are now shaping how AI delivers real-world value for our clients.

  Our Clients around the AI space are loofiing for Consultants who are:

• Curious

• Clear Thinking

• Conscientious

• Credible

• Cost Effective

  
  
  

  ‌Appendices

  
  
  

  ‌Case Study 1

  Our client, a national UK government regulator responsible for public safety, required a large-scale digital transformation update. This would comprise technical, data, and business architecture, plus AI integration.

  Every year, the client created Annual Assurance Reports. After 14 years, this had accrued into over 1000 pages. As part of the AI delivery project, FDM Consultants streamlined information capture and data retrieval from these pages using an internal AI-powered chatbot.

  Impact

  To reduce the cost to the client, the consultants used open-source AI tools to develop the chatbot. The first working prototype was ready within seven weeks and was quickly deployed amongst the client's first-line agents.

  Following feedback, the chatbot was enhanced to include additional data sources. The prototype has now evolved into a usable system, now actively supporting operations.

  Outcome

  and key benefits

  • 60% reduction in manual reconciliation time

  • 30 seconds to answer FAQs, down from 48 hours

  • Five weeks to create report, down from three months

  • Seven weeks prototype delivery timeline

    Challenges faced:

  • Manual worfiload: Analysts spent weeks manually scanning reports to extract data insights.

  • Unstructured data: Content was inconsistently formatters, with text, charts, images, and scanned tables.

  • Delayed insights: Critical findings were often missed amongst other data points.

  • Limited historical comparison: Poor formatting made long-term trend analysis difficult.

  • Future blind spots: No capabilities to forecast potential risks or predict emerging safety concerns.

    AI-powered chatbot capable of:

• Reading and analysing structured and unstructured data

• Answering natural language queries on accidents, trends, and recommendations

• Summarising and comparing data across time periods

• Highlighting recurring safety risks for immediate attention

• AI-assisted report drafting and predictive safety forecasting

  FDM Practices

  • Change G Transformation

  • Data G Analytics

  • Risk, Regulation G Compliance

Tech stack

Streamlit Snowflake OpenAI Azure Chroma PyPDF2

Python LangChain FAISS

9 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Case Study 2

Our client, one of the world's largest banks, approached us with a clear challenge: navigating the complexity of Basel 3.1 regulatory requirements was proving time-consuming, error-prone, and inefficient for their compliance teams.

They wanted to empower their compliance teams with an AI-driven, interactive library that provides fast, accurate, and user-friendly access to regulatory requirements, validation tools, and submission guidance. The aim was to reduce risk and effort while ensuring regulatory accuracy.

Streamlining compliance through centralised intelligence

We began by exploring whether an AI-powered chatbot could serve as a 'librarian' to guide users through compliance checks and streamline the entire process. This scalable solution would also improve accuracy and make navigating complex regulatory frameworks faster and easier.

Key features

• AI chatbot 'librarian': Natural language interface for querying Basel 3.1 rules and validating compliance templates.

• Compliance data repository: Centralised store for rulebooks, templates, and regulatory submissions.

• Validation engine: Automated rule-checking aligned with Basel 3.1 requirements.

• Excel-style UI: Familiar interface for data input and review.

Tech stack

• Microsoft Copilot Studio

• Power Automate

• Azure AI Search

  The team

• Scrum Master

• Business Analysts

• PMO Specialist

• Developer

• Prompt Engineers

10 FDM Group (Holdings) plc - Investor Presentation November 2025

Outcome

and key benefits

The project is now in its final sprint. The team are on track to meet the PoC objectives:

• Creating a natural language learning tool for compliance

• Automating the compliance checks against the regulatory framework

• Improved data quality

• Reducing cost in manpower required for the validation and remediation tasks

• Improved time to upskill teams on current and future regulatory changes

‌Highlights for the six months ended 30 June 2025

Revenue (£m) Adjusted Profit Before Tax (£m)¹ Adjusted PBT margin (%)¹ Profit Before Tax (£m)

152.8

131.3

179.9

140.2

97.3

-31%

22.0

25.0 26.0

17.7

9.0

-49%

16.8% 16.4%

14.5%

12.6%

9.2%

-3.4ppts.

20.5 22.2

29.8

15.5

8.0

-48%

2021 2022 2023 2024 2025

vs H1-24

2021 2022 2023 2024 2025

vs H1-24

2021 2022 2023 2024 2025

vs H1-24

2021 2022 2023 2024 2025

vs H1-24

Effective Tax Rate (%) Adjusted Basic EPS (p)2 Basic EPS (p)2 Share-based Payment (£m)

23.5% 23.2%

27.5% 27.5%

22.0%

-5.5ppts

vs H1-24

15.6 17.6 16.8

11.7

6.3

-46%

vs H1-24

14.3

15.6

19.7

10.3

5.7

-45%

vs H1-24

1.5

2.8

-3.8

0.1

-0.0

n/a

vs H1-24

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

Closing Cash (£m)

36.9

44.7 40.0 38.1

34.6

Adjusted Cash Conversion (%)3

155%

103%

Cash Conversion (%)3

155%

104%

Interim Dividend per Share (p)

17.0 17.0

15.0

-6%

vs H1-24

87%

67%

95%

+52ppts.

vs H1-24

93% 75% 83%

+51ppts.

vs H1-24

10.0

6.0

-40%

vs H1-24

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

2021 2022 2023 2024 2025

1 Adjusted profit items are calculated before; i) Share Plan expenses; and ii) exceptional costs as we continued to align better the number of undeployed consultants and internal staff with market demand

11 2 Earnings per share

3 Cash conversion is calculated by dividing cash flows generated from operations by operating profit. The adjusted cash conversion is calculated by dividing cash flow generated from operations by operating profit adjusted

for Share Plan expenses as this is a non-cash item

‌Income statement

For the six months ended 30 June 2025

12 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Statement of financial position

As at 30 June 2025

13 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Sustainability and inclusivity

49%

% female within senior management team and their direct reports

88%1

attended a state school

80+

nationalities working together as a team at FDM

-1.7%

The UK business has also reported a mean gender pay gap of 3.7% for 2025

3%

Identify as having a disability

< 1 tCO2e

Intensity ratio of: Scope 1, 2 and 3 emissions per employee

14 FDM Group (Holdings) plc - Investor Presentation November 2025 1 of our 2024 UK consultants

‌Partnerships

Our technology partnerships with some of the world's most innovative organisations ensure that we are at the forefront of technological advancements.

15 FDM Group (Holdings) plc - Investor Presentation November 2025

‌Forward-loofiing statements

This report contains statements which constitute "forward-looking statements". Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to be correct. Because these statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. Subject to any requirement under the Disclosure Guidance and Transparency Rules or other applicable legislation or regulation, the Group does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither shareholders nor prospective shareholders should place undue reliance on forward-looking statements, which speak only as of the date of this report.