3M 2026 Interim Financial Statements

Prosegur Compañía de Seguridad and Subsidiaries

Table of contents

1. Profit/(loss) from January to March 2026 3

2. Performance in the period 4

   Interim financial statements (January - March 2026) 5

   1. Performance of the business 5

   2. Significant events and transactions 8

   3. Consolidated financial information 12

   4. Alternative Performance Measures 19

1. ‌Profit/(loss) from January to March 2026

   Million of euros
   CONSOLIDATED RESULTS	2025	2026	% Var.
   			1.5% 2.4% 5.1% 0.7% -4.3% 1.2% -5.9% 3.0% -7.0% 11.7% -8.1% 15.2% 15.2%
   Sales	1,254.9	1,274.4
   EBITDA	137.6	140.9
   Margin	11.0%	11.1%
   Depreciation and amortis ation	(51.7)	(54.4)
   Adjus ted EBITA	85.9	86.5
   Margin	6.8%	6.8%
   Amortisation and impairment of intangible assets	(7.8)	(7.5)
   EBIT	78.0	79.0
   Margin	6.2%	6.2%
   Financial Results	(15.4)	(14.5)
   Profit/ (loss) before tax	62.7	64.6
   Margin	5.0%	5.1%
   Taxes	(29.2)	(27.1)
   Net Result	33.5	37.4
   Non-controlling interes ts	5.2	4.7
   Consolidated net profit/(loss)	28.4	32.7
   Margin	2.3%	2.6%
   Earnings per share (Euros per share)	0.1	0.1

2. ‌Performance in the period

   Turnover increased by 1.5% compared to 2025, with 7.8% associated with pure organic growth, while the combined effect of the exchange rate and the result of applying IAS 29 and IAS 21.42 brought a negative impact of 6.2%. The combined effect of inorganic growth and the divestments carried out by Prosegur has had a negative impact of 0.1% on the change in turnover.

   The adjusted EBITA increased by 0.7% compared to financial year 2025, having reached EUR 86.5 million, with a 6.8% margin on sales.

   The consolidated net profit/loss was EUR 32.7 million, an increase of 15.2% over that of 2025.

   ‌Interim financial statements (January - March 2026)
   1. ‌Performance of the business

      Details of the business performance of the main consolidated income statement items for the period January-March 2026 and their comparison with the period January-March 2025 is detailed below:

      1. Sales

         Prosegur sales during the period from January to March of 2026 reached EUR 1,274.4 million, compared to EUR 1,254.9 million in the same period in 2025. This means an increase of 1.5%, corresponding to a 7.8% increase in pure organic growth, while the combined effect of the exchange rate and the result of applying IAS 29 and IAS 21.42 resulted in a decrease of 6.2%. The combined effect of inorganic growth and the divestments carried out by Prosegur has had a negative impact of 0.1% on the change in turnover.

         The inorganic growth is related to the business combination carried out in Argentina involving Servicios Unidos de Seguridad S.A. in the Alarms segment during the 2025 financial year. All acquisitions began to form part of the consolidation scope as of the same month of their acquisition.

         The divestments made by Prosegur in the 2025 financial year were related to the sale of its shareholding in the company Fortress Armored Transport Incorporated in the Philippines.

         Million of euros

         Sales Prosegur Total

         The table below shows the breakdown of Prosegur's sales by business line:

         	2025	2026	% Var.
         Security	656.6	685.5	4.4%
         % of total	52.3%	53.8%
         Cash	516.1	497.3	-3.7%
         % of total	41.1%	39.0%
         AVOS	20.7	25.4	22.5%
         % of total	1.7%	2.0%
         Alarms	61.4	66.2	7.8%
         % of total	4.9%	5.2%

         Total sales

         1,254.9 1,274.4

         1.5%

         In relation to the distribution of sales by business line, during the period from January to March of 2026, Security sales reached EUR 685.5, million with an increase of 4.4% over the same period of the year before. This growth is mainly due to the strong performance of the U.S. market. In addition, cybersecurity sales were integrated into the Security segment in January 2026 with the aim of offering a unique Hybrid Security value proposition. The Prosegur Group considers that physical security, technology and cybersecurity are closely interrelated and mutually necessary.

         Cash sales have decreased by 3.7%, reaching EUR 497.3 million. Despite the positive sales trend in most of the countries where the Cash Group operates, there has been a significant decline in sales in Argentina, due, on the one hand, to the negative effect of exchange rate movements and, on the other, to government policies implemented in the country since November 2023, which have had extraordinary effects that distort the year-on-year comparison. In addition, sales of transformation products have shown a positive trend compared with the same period last year.

         Alarms sales have increased by 7.8%, reaching EUR 66.2 million. AVOS sales increased by 22.5% to EUR 25.4 million.

      2. Operating profit/loss

         Adjusted EBITA for the period from January to March 2026 amounted to EUR 86.5 million, an increase of 0.7% on the same period in 2024 when the figure was EUR 85.9 million.

         The adjusted EBITA margin on sales in the period from January to March 2025 was 6.8%, while the margin for 2026 was 6.8%.

      3. Finance income and expense

         The net financial expenses of Prosegur during the period from January to March 2026 reached EUR

         14.5 million, compared to EUR 15.4 million in the same period in 2025, which translates into a drop of EUR 0.9 million. The main changes in financial expenses were as follows:

         • The net financial expenses from interest payments in the period from January to March 2026 were EUR 18.4 million, compared to EUR 17.5 million in 2025, representing an increase of EUR 0.9 million mainly due to higher interest rates.

         • Net financial income from exchange differences amounted to EUR 3.9 million in the period from January to March 2026, compared to EUR 2.1 million in 2024, representing an increased income of EUR 1.8 million.

      4. Net profit/(loss)

         Net consolidated profit/(loss) in the period from January to March 2026 was EUR 32.7 million compared to EUR 28.4 million for the same period in 2025, representing an increase of 15.2% due to lower financial expenses and a decrease in the effective tax rate.

         The effective tax rate is 42.0% in the first quarter of 2026, compared to 46.5% in the first quarter of 2025, implying a decrease of 4.5 percentage points.

   2. ‌Significant events and transactions Significant events The acquisition of certain areas of the added-value outsourcing services (AVOS) busines s for financial entities and insurance companies in Argentina and Paraguay from its subsidiary Prosegur Cash, S.A. This transaction had no accounting impact, given that the AVOS business in Argentina and Paraguay was entirely consolidated.

      On 31 March 2026, Prosegur Compañía de Seguridad S.A. and another company within its group formalised the purchase and acquisition of 100% of the shares in the companies VN GLOBAL BPO,

      S.A. (Argentina) and VN GLOBAL PARAGUAY, S.A., from Prosegur Cash, S.A. ("Prosegur Cash") and another company within its group, as a means of acquiring the added-value outsourcing services (AVOS) business for financial entities and insurance companies in Argentina and Paraguay.

      Both transactions form part of a single economic and legal transaction and have been contractually structured as interdependent. The transaction forms part of the expansion of the added-value outsourcing services (AVOS) business which began in 2021 with the acquisition from Prosegur Cash of certain areas of that business in Spain, as well as the associated technology, on 31 March 2021.

      Deloitte Strategy, Risk & Transactions, S.L.U., has issued an independent valuation report to the Company's Board of Directors, determining a valuation range for the companies object of the transfer. The enterprise value finally agreed upon by the parties (EUR 18.2 million) falls within that range and is reasonable from a financial perspective for the Company. As a result of these transfers and in accordance with the provisions of the respective sale and purchase agreements, the Company and Prosegur Cash have signed, on this date, a third non-extinguishing modifying novation of the Framework Agreement on Relations of 17 February 2017, which was first novated on 16 March 2021 and for the second time on 30 October 2024, in order to adapt the scope of activities reserved for the Prosegur Cash Group to the new circumstances arising from the transaction.

      Furthermore, within the framework of the aforementioned novation, the delegation regime applicable to certain related-party transactions between Prosegur Cash and its group companies, on the one hand, and the Company and its group companies, on the other, has been updated. This is in relation to the provision of services inherent in the respective areas of activity of the Prosegur Group and the Prosegur Cash Group, in accordance with the resolution adopted by the Board of Directors of Prosegur Cash to align the applicable threshold with the maximum permitted by law provided for in Article 529 duovicies.4.b) of the Spanish Companies Act (0.5% of net turnover).

      Integration of the Cybersecurity busines s into the Security business

      In January 2026, with the aim of offering a unique value proposition in Hybrid Security, the Cybersecurity business was integrated into the traditional Security business. The Prosegur Group considers that physical security, technology and cybersecurity are closely interrelated and mutually necessary. Today's security landscape and risks call for a holistic approach, with greater integration between various types of security, more context and fewer silos. With this integration, the Prosegur Group adds another layer to its Hybrid Security model, offering capabilities that complement one another.

      Consequently, the Cybersecurity business, which had been managed separately until December 2025, has now been integrated into the Security business. Therefore, as from 1 January 2026:

      • Although the strategic plan presented for the 2026-2027 financial years distinguished between Security and Cybersecurity, it was also presented jointly for strategic decision-making purposes, with the latter being the focus of analysis for decision-making. As set out in the Consolidated Annual Accounts as at 31 December 2025, the Board of Directors is the highest authority for operational decision-making.

      • From a management perspective, a global, cross-functional team (comprising staff involved in design, development and marketing) has been set up, led by a Security executive, with the aim of jointly improving and unifying marketing strategies for the Security business, as well as implementing best practices. This team includes employees who also work in the other two Security solutions, namely technology and surveillance.

      • As with the technology solution, the director leading the global, cross-functional cybersecurity team provides regular updates to the Security segment manager on the progress of cybersecurity and its integration as a complementary solution within that business.

      • The variable remuneration for employees in the cybersecurity solution is calculated in line with the methods used across the Security division (including all solutions within the Security business as a whole); in other words, a significant proportion of the variable remuneration is linked to value creation and the generation of recurring revenue.

      • Although the Prosegur Group will continue to offer standalone cybersecurity solutions on a limited basis, as from January 2026 priority is being given to joint marketing with other security solutions, thanks to a reorganisation of resources (staff, premises, technical teams, etc.).

      Consequently, and in accordance with the definition of a cash-generating unit (CGU) set out in IAS 36, the integration of Cybersecurity into Security results in a single cash-generating unit, due to being considered the smallest group of assets generating cash inflows, given that the products offered under the cybersecurity solution will be designed, developed and marketed jointly, in the same way as the technology and surveillance products, which until 31 December 2025 formed part of the Security cash-generating unit.

      According to the definition set out in IFRS 8.5, the Cybersecurity segment no longer qualifies as a separate segment, given that as from January 2026 the Cybersecurity business will begin to generate income and expenses jointly, with products designed and marketed alongside the Security teams through a global, cross-functional team. In addition, as from January 2026, the Cybersecurity business will be integrated into the Security business, with a single segment manager who will make operational decisions, approve the strategic plan and have the authority to review and allocate resources and decide on the implementation and operation of the cybersecurity solution in conjunction with the other security services provided.

      Finally, in accordance with IFRS 8.12, the Cybersecurity segment has been integrated into the Security segment, given that they share similar economic characteristics and are similar in each of the following respects: the nature of the products and services; the nature of the production processes; the type or class of clients for whom the products and services are intended; the methods used to distribute the products or provide the services; and the nature of the regulatory framework.

      Sustainability

      Prosegur has continued to make progress in integrating ESG (environmental, social and governance) criteria, three interlinked elements, into its corporate culture. The actions implemented by Prosegur in recent years in these areas have focused, primarily, on strengthening the environmental responsibility of the Group's services, creating decent and stable employment, training its workers, the health and safety of its professional teams, respect for human rights and rigorous compliance with regulations and good governance.

      This commitment to sustainability is described in detail in the Sustainability Master Plan 2024-2027, which takes into account recent changes in the European regulatory framework and responds to growing expectations around the green transition, the creation of a fairer and more inclusive working environment and principles of responsible governance.

      With regard to the environment, the Prosegur Group is committed to reducing its emissions in the medium and long term. Nevertheless, given that the Prosegur Group's activities are focused primarily on the provision of services and not on transformation or manufacturing, they do not have a significant negative impact on the environment, nor do they act as an accelerator of climate change or a threat to biodiversity.

   3. ‌Consolidated financial information

      The consolidated financial information has been prepared in accordance with the International Financial Reporting Standards (IFRS) applicable at 31 March 2026. Such accounting standards have been applied to both financial years 2026 and 2025.

      The treatment of Argentina as a hyperinflationary economy should be taken into account in order to understand the consolidated financial statements. The financial statements of the Argentine subsidiaries whose functional currency is the Argentine peso have been re-stated in terms of the current unit of measurement at the closing date of March 2026 and December 2025 before being included in the consolidated financial statements.

      Million of euros
      CONSOLIDATED BALANCE SHEET	12/31/2025	03/30/2026
      Non current assets	2,586.2	2,650.9
      Property, plant and equipment	696.2	728.6
      Rights of use	126.4	123.5
      Goodwill	703.4	711.3
      Intangible assets	409.7	399.6
      Property inves tment	49.4	57.5
      Inves tments accounted for using the equity method	260.7	265.2
      Non-current financial assets	220.1	235.3
      Other non-current assets	120.3	129.8
      Current assets	2,325.4	1,958.3
      Inventories	66.6	78.8
      Debtors	1,057.2	1,164.1
      Cash, cash equivalents and other financial assets	1,201.6	715.4
      ASSETS	4,911.7	4,609.2

      Equity	802.1	918.6
      Share capital	32.7	32.7
      Own shares	(27.3)	(27.3)
      Retained earnings and other reserves	715.1	821.1
      Non-controlling interes ts	81.6	92.1
      Non-Current Liabilities	1,786.8	1,868.2
      Bank borrowings and other financial liabilities	1,429.0	1,483.6
      Non-current lease liabilities	88.5	86.5
      Other non-current liabilities	269.2	298.2
      Current Liabilities	2,322.8	1,822.3
      Current financial liabilities	1,217.8	715.7
      Lease liabilities	47.5	46.7
      Trade and other payables	965.8	964.7
      Other current liabilities	91.7	95.2
      EQUITY AND LIABILITIES	4,911.7	4,609.2

      The main variations in the consolidated balance sheet at 31 March 2026 compared with the close of financial year 2025 are summarised as follows:

      1. Property, plant and equipment

         Investments made in PPE during the period from January to March 2026 amounted to EUR 40.2 million.

      2. Goodwill

         During the first quarter of 2026 no impairment losses in goodwill have been registered.

      3. Investments in associates

         The change in investments in associates relates mainly to the profit/(loss) at investees accounted for using the equity method.

      4. Non-current financial assets

         Changes in non-current financial assets from January-March 2026 were mainly the result of the changes in the fair value of the shares in Telefónica, S.A. received as consideration for the sale of the 50% stake in the Alarms business in Spain in 2020.

      5. Equity

         The changes in net equity from January to March 2026 arose as a result of net profit in the period, the reserve for cumulative translation differences and changes in the fair value of equity instruments.

      6. Other non-current and current liabilities

         This heading comprises provisions for occupational, legal and other risks, including tax risks and accruals with personnel.

      7. Trade and other payables

         This heading includes mainly trade payables and income tax and other tax payables to public treasury.

      8. Net debt

         Prosegur calculates net debt as total bank borrowings (current and non-current) with credit institutions, minus cash and cash equivalents, and minus other current financial assets.

         Net debt at 31 March 2026, excluding the effect of lease liabilities and including the fair value of the shares in Telefónica, S.A., amounted to EUR 1,224.8 million, an increase of EUR 20.8 million on the figure at 31 December 2025 (EUR 1,204.0 million).

         At 31 March 2026, 63% of the debt is at a fixed rate and 37% at a variable rate (67% and 33% at December 2025, respectively). The finance cost of debt stood at 2.88% (2.30% at December 2025).

         At 31 March 2026, the annualised net debt/EBITDA ratio reached 2.4 and the net debt/shareholder equity ratio was 1.5. In both cases the debt associated with the application of IFRS 16, the debt associated with the deferred and contingent payments relating to acquisitions, the fair value of the treasury stock and the fair value of Telefónica, S.A. shares have been included in order to be comparable.

         At 31 March 2026, financial liabilities correspond mainly to:

         • Issue of uncovered bonds in April 2022 due in April 2029 amounting to EUR 510 million (including interest).

         • Issue of uncovered bonds via the subsidiary Prosegur Cash, S.A. due in October 2030 for an amount of EUR 304 million (including interest).

         • During the 2025 financial year, the Cash Group renewed the promissory note programme known as the Prosegur Cash AIAF Promissory Note Programme, which was formalised in the 2024 financial year, for a maximum amount at any given time of up to EUR 400 million. The notes have a unit face value of EUR 100,000 thousand and have maturities of a minimum of three business days and a maximum of three hundred and sixty-four calendar days. The notes have a unit face value of EUR 100 thousand and have maturities of a minimum of three business days and a maximum of three hundred and sixty-four calendar days.

           This Programme was carried out in addition to the traditional financing channels that the Group has been using in recent years, in order to diversify its sources of financing. At 31 March 2026, the debt from this programme amounted to EUR 203.6 million.

         • Syndicated financing agreement through the subsidiary Prosegur Cash, S.A. as a credit facility arranged in 2025, maturing in February 2031. No amount drawn down as at 31 March 2025.

         • Syndicated financing agreement as a credit facility, arranged in 2025, maturing in February 2031, for the amount of EUR 65 million.

         • Through its Peruvian subsidiary Prosegur Compañía de Seguridad, S.A., Prosegur arranged a financing operation amounting to PEN 300 million and maturing in five years, which was reclassified in the short term. At 31 March 2026, the drawn down capital amounted to PEN 15 million (equivalent to EUR 3.7 million).

         • On 27 October 2021 and 24 February 2026, Prosegur Compañía de Seguridad arranged two financing operations with the European Investment Bank (EIB) in order to boost investment in innovation, digital transformation and sustainability. The amount of the financing is EUR 50 million over a six-year term under the agreement signed in 2021, and it amounts to EUR 60 million over a six-year term under the agreement signed in 2026. As at 31 March 2026, the amount drawn down under the contract entered into in 2021 stands at EUR 50 million, while no amount has been drawn down under the contract entered into in 2026.

         • Three loans amounting to EUR 30 million, EUR 75 million and EUR 11 million were taken out in Spain, respectively, on 30 May 2024, 25 June 2024 and 31 July 2024, with a maturity of three to four years. The loans bear interest at market rates.

         • Furthermore, in December 2024, two loans of EUR 20 million and EUR 15 million were taken out in Spain, with a maturity of three and four years, respectively.

         • A EUR 175 million loan in Spain dated 29 November 2024 with a maturity of three years. The loan bears interest at market rates.

         • Third-party funds collected by the Prosegur Group in the collection and payment management business and bill payment services in Uruguay and Ecuador amounting to EUR 205.9 million.

         • During the 2025 financial year, several loans bearing market interest rates were taken out, with the following characteristics:

           • EUR 18 million loan with a three-year maturity;

           • EUR 20 million loan with a four-year maturity;

           • EUR 20 million loan with a four-year maturity;

           • EUR 50 million loan with a three-year maturity;

           • EUR 25 million loan with a three-year maturity;

           • EUR 75 million loan with a four-year maturity;

           • EUR 30 million loan with a four-year maturity;

           • EUR 25 million loan with a three-year maturity;

           • EUR 30 million loan with a four-year maturity;

           • EUR 40 million loan with a four-year maturity;

           • EUR 80 million credit facility with a two-year maturity, extendable for an additional year. As of 31 March 2026, no amount had been drawn down under this credit facility.

           • EUR 40 million credit facility with a two-year maturity, extendable for an additional two years. At 31 March 2026, the balance drawn down amounted to EUR 4.7 million.

         The total net cash flow generated in the period from January to March 2026 was as follows:

         Million euros
         CONSOLIDATED CASH FLOW	03/31/2025	03/31/2026	% Var.
         EBITDA Adjustments to profit or loss Income tax Change in working capital Interest payments	137.6 (18.6) (27.7) (97.3) (12.9)	140.9 (23.6) (24.1) (74.4) (10.6)	2.4% 27.1% -13.0% -23.5% -17.5%
         OPERATING CASH FLOW	(18.9)	8.1	-142.7%
         Acquisition of Property, plant and equipment	(34.8)	(40.2)	15.5%
         Payments acquisition of subsidiaries	(2.3)	(1.7)	-27.1%
         Dividend payments	(3.4)	(5.1)	50.2%
         Acquisition of treasury stock and other cash inflows/outflows	(14.0)	(4.4)	-68.6%
         CASH FLOW FROM INVESTMENT / FINANCING	(54.5)	(51.3)	-5.7%
         TOTAL NET CASH FLOW	(73.4)	(43.3)	-41.0%
         INITIAL NET FINANCIAL POSITION	(1,304.5)	(1,376.8)	5.5%
         Net (Decreas e) / Increase in cash and cash equivalents	(73.4)	(43.3)	-41.0%
         Exchange rate effect	(4.2)	6.9	-265.3%
         NET FINANCIAL POSITION AT THE END OF THE PERIOD	(1,382.1)	(1,413.1)	2.2%
         Financial investments	215.5	188.3	-12.6%
         ADJUSTED NET FINANCIAL POSITION AT THE END OF THE PER	(1,166.6)	(1,224.7)	5.0%

         The positive operating cash flow for the reporting period amounted to EUR 8.1 million, while the negative operating cash flow for the same period in 2025 was EUR (18.9) million, which represents a EUR 27.0 million increase.

         Adjustments to profit or loss and other and changes in working capital mainly comprise cash flows from receivables and payables, which are made up of amounts due from clients, inventories, suppliers and balances receivable from and payable to the tax authorities.

         The net financial position at 31 March 2026 stood at EUR (1,244.8) million, increasing by EUR 20.8 million compared with the figure at 31 December 2025 (EUR (1,204.0) million). This figure does not include lease liabilities and deferred payables.

   4. ‌Alternative Performance Measures

In order to comply with ESMA Guidelines on APMs, Prosegur presents this additional information to enhance the comparability, reliability and understanding of its financial reporting. The Company presents its profit/(loss) in accordance with International Financial Reporting Standards (IFRS). However, Management considers that certain Alternative Performance Measures provide additional useful financial information that should be taken into consideration when assessing its performance. Management also uses these APMs to make financial, operating and planning decisions, as well as to assess the Company's performance. Prosegur provides those APMs it deems appropriate and useful for users to make decisions and those it is convinced represent a true and fair view of its financial information.

Positive working capital is necessary to ensure that the

Working capital

Organic Growth

Inorganic Growth

Exchange rate effect

This is a finance measure that represents operational liquidity available for the company. Working capital is calculated as current assets less current liabilities (excluding the short-term lease liabilities) plus deferred tax assets less deferred tax liabilities less long-term provisions.

Organic growth is calculated as an increase or decrease of income between two periods adjusted by acquisitions and divestments and the exchange rate effect.

The Group calculates inorganic growth for a period as the sum of the revenue of the companies acquired minus divestments. The income from these companies is considered inorganic for 12 months following their acquisition date.

The Group calculates the exchange rate effect as the difference between the revenue for the current year less the revenue for the current year using the exchange rate of the previous year.

Company can continue its operations and has sufficient funds to cover matured short-term debt as well as upcoming operating expenses. Working capital management consists of the management of inventories, payables and receivables and cash.

Organic growth provides the comparison between years of the growth of the revenue excluding the currency effect.

Inorganic growth provides the growth experienced by the company through new acquisitions or divestments

The exchange rate effect provides the impact of currencies on the revenue of the company.

Cash flow conversion rate The Group calculates the cash flow conversion rate as the difference between

EBITDA less the CAPEX on EBITDA.

The Group calculates gross financial debt as all financial liabilities minus other

The cash flow conversion rate provides the cash generation of the Company.

Gross financial debt reflects gross financial debt without

Gross Financial Debt

Cash availability

Net Financial Debt

Adjusted EBITA

EBITDA

non-bank debts corresponding to deferred payments for M&A acquisitions.

The Group calculates cash availability as the sum of cash and other cash equivalents, other short-term financial assets, and any short- and long-term undrawn credit facilities.

The Group calculates financial debt as the sum of the current and non-current financial liabilities (including other payables corresponding to deferred M&A payments and financial liabilities with Group companies) minus cash and cash equivalents, minus current investments in group companies, and minus equity instruments in listed companies (included under the non-current financial assets heading).

Adjusted EBITDA is calculated on the basis of the consolidated profit/loss for the period without including the profit/loss after taxes from discontinued operations, income taxes, finance income or expenses, and adjusting the impairment losses on goodwill, amortisation expenses and impairment of client portfolios, trademarks and other intangible assets.

EBITDA is calculated on the basis of the consolidated profit/loss for the period for a company, excluding earnings after taxes from discontinued operations, income taxes, finance income or expenses, and cost of repayment or impairment of fixed assets, but including impairment of property, plant and equipment.

including other non-bank debt corresponding to deferred payments for M&A acquisitions

Cash availability reflects available cash as well as potential cash available through undrawn credit facilities.

The net debt provides the gross debt less cash in absolute terms of a company.

The adjusted EBITA provides an analysis of earnings before interest, taxes and amortisation, and impairment of intangible assets (except computer software).

The purpose of the EBITDA is to obtain a fair view of what the company is earning or losing in the business itself. The EBITDA excludes variables not related to cash that may vary significantly from one company to another depending upon the accounting policies applied. Amortisation is a non-monetary variable and therefore of limited interest for investors.

The adjusted EBITA Margin provides the profitability

Adjusted EBITA margin The adjusted EBITA margin is calculated by dividing adjusted EBITA of the company by the total figure of revenue.

The Group calculates the leverage ratio as net financial debt divided by total

obtained prior to depreciation and impairment of intangible assets (except computer software) of the total revenue accrued.

The leverage ratio provides the weight of the net financial

Leverage ratio

Ratio of net financial debt to equity

Ratio of financial debt to EBITDA

Ratio of financial debt excluding cash to EBITDA

capital. Net financial debt is calculated as detailed above. Total capital is the sum of equity plus net financial debt.

The Group calculates the ratio of net financial debt to shareholder equity by dividing the net financial debt to shareholder equity as they appear in the Statement of Financial Position.

The Company calculates the ratio of net financial debt to EBITDA by dividing the net financial debt by Last Twelve Months EBITDA.

The Company calculates the ratio of net financial debt without liquid assets to EBITDA by dividing net financial debt (in this case including contingent and deferred payment liabilities arising from acquisitions and deducting the amount of treasury shares) by EBITDA for the last 12 months.

debt over all of the Company's own and third-party financing, shedding light on its financing structure.

The ratio of net financial debt to shareholder equity offers the ratio of the Company's net financial debt to its equity.

The ratio of net financial debt to EBITDA offers the ratio of the Company's net financial debt to its EBITDA, thus reflecting its payment capacity.

The ratio of net financial debt excluding cash to EBITDA offers the ratio of the Company's net financial debt to its EBITDA, thus reflecting its payment capacity.

PROSEGUR https://www.prosegur.com