SaaS Annual Recurring Revenues up 22% CPaaS Sales up 9%

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PRESS RELEASE

SaaS Annual Recurring Revenues up 22%

CPaaS Sales up 9%

Growens meets the requirements for an issuer of widely distributed

securities

Milan, 10 Luglio, 2024 - Growens S.p.A. - GROW (the "Company" or the "Issuer" or "Growens"), a company admitted to trading on the multilateral trading facility Euronext Growth Milan and operating in the cloud marketing technology field, has announced today certain data from management accounts, related to the business lines SaaS and CPaaS as of June 2024 and Q2 2024 respectively.

Unaudited data show the following results:

• as per the SaaS (Software as a Service) business line, an ARR of 12.6M EUR as of June 2024, growing 21.7% vs the same data of 2023 (or 21.4% at constant USD/EUR fx);
• as per the CPaaS (Communication Platform as a Service) business line, gross sales increasing 8.6% in Q2 2024 at 15.9M EUR, vs 14.6M EUR in Q2 2023.

Data from management accounts, not subject to a BoD resolution, unaudited. Annual Recurring Revenue is calculated as the sum of unterminated annual subscriptions active as of June 2024 and 2023. Monthly subscriptions are annualized (multiplied by 12). Subscriptions represent recurring revenues: they do not include professional services, SMS traffic, and other services sold on a one-off basis, whereas they include usage fees such as API calls, image hosting and additional users with a recurring pattern (June 2024 estimates). ARR is not comparable with historical CPaaS sales below.

Data from management accounts, not subject to a BoD resolution, unaudited. Figures might differ from reported sales because of period adjustments.

Within the CPaaS business line, Agile Telecom recorded Q2 sales of ca. 16M EUR sales, up ca. 9% over the same period of the previous year, recovering top line growth.

Within the SaaS business line, the business unit Beefree (beefree.io), with a 12.6M EUR ARR, posted a growth of 22% over the same period of the previous year (or 21% at constant USD/EUR fx), thanks to a combined increase in both volumes and usage.

Status of issuer with widely distributed securities among the public

The Company informs that as of today, it meets the requirements for qualifying as an issuer of financial instruments widely distributed among the public. Therefore, starting from the beginning of the next financial year, on January 1, 2025, the relevant legal and regulatory provisions will apply.

Growens (GROW) is a leading European player in the field of Cloud Marketing Technologies, serving thousands of clients worldwide. Its SaaS and CPaaS solutions allow SMEs and large corporations globally to master the evolving ways of communicating with customers. Starting from the original business MailUp the Group grew steadily since 2002, both organically and via M&A, peaking with the launch of innovative products such as Beefree.io.

The company is admitted to trading on the Euronext Growth Milan (EGM) market managed by the Italian Stock Exchange, with a free float above 31%.

ISIN IT0005040354 - Reuters: GROW.MI - Bloomberg: GROW IM

Media & Guidelines: https://growens.io/en/media-guidelines