Almawave S p A : Exane BNP Paribas Midcap CEO Paris 2022 Presentation

Financial Results

9M FY 2022

BNP PARIBAS EXANE

CEO MID CAP CONFERENCE

#AI4you

Paris 16th November

Disclaimer

This presentation and the information contained herein (unless otherwise indicated), are provided by Almawave S.p.A. (together with its affiliates referred to as "Almawave") solely for informational purposes. By attending this presentation or otherwise viewing this presentation, or having access to the corresponding information, you are agreeing to be bound by the following.

This presentation and its contents are strictly confidential and may not be distributed or passed on to any other person or published or reproduced, in whole or in part, by any medium or in any form for any purpose.

The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice. This document does not constitute a prospectus, offering circular or offering memorandum or an offer of securities for sale, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of Almawave, in any jurisdiction, including but not limited to the United States, Australia, Canada or Japan or any other jurisdiction where such an offer or solicitation would require the approval of local authorities or otherwise be unlawful. Neither this document nor any part of it nor the fact of its distribution may form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto.

The shares of Almawave S.p.A. (the "shares"), as referred to in this document, have not been registered and will not be registered pursuant to the USA Securities Act of 1933, as amended (the Securities Act) or pursuant to the corresponding regulations in force in the other countries, and they may not be offered or sold in the United States or to US citizens unless these securities are registered in compliance with the Securities Act, or if an exemption from the requirements of Registration by the Securities Act is set forth.

The information herein does not intend to be comprehensive or

to include all the information that a potential or existing investor may wish to have. In all cases, the interested parties must carry out their own investigations and analyses of Almawave which may include an analysis of the data of this document, but they must also include an analysis of other documents, including the financial statements for the period.

This presentation contains forward-looking statements. Forward- looking statements include, but are not limited to, all statements other than statements of historical facts contained in this presentation, including, without limitation, those regarding Almawave's results of operations, strategy, plans, objectives, goals and targets. The forward-looking statements in this document can be identified, in some instances, by the use of words such as "expects," "anticipates," "intends," "believes," and similar language or the negative thereof or similar expressions that are predictions of or indicate future events or future trends. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that may cause Almawave's actual results, performance or achievements to be materially different from those expressed in, or implied by, such forward-looking statements. All forward-looking statements apply only as of the date hereof and Almawave undertakes no obligation to update this information. All subsequent written and oral forward-looking statements attributable to Almawave S.p.A. or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements.

Certain financial data included in this presentation consists of "non-IFRS financial measures" or "Alternative Performance Measurements (APM)" These non-IFRS financial measures and alternative performance measurements (APM), as defined by Almawave, may not be comparable to similarly-titled measures as presented by other companies, nor should they be considered as an alternative to the historical financial results or other indicators of the performance based on IFRS.

Almawave obtained certain industry and market data used in this presentation from publications and studies conducted by third parties and estimates prepared by Almawave based on certain assumptions. While Almawave believes that the industry and market data from external sources is accurate and correct, Almawave has not independently verified such data or sought to verify that the information remains accurate as of the date of this presentation and Almaviva makes no representation as to the accuracy of such information. Similarly, Almawave believes that its internal estimates are reliable, but these estimates have not been verified by any independent sources.

The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice. The information contained in this document may be updated, completed, revised and amended and such information may change materially in the future. Almawave is under no obligation to update or keep current the information contained in this presentation. The information contained in this presentation has not been independently verified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. Neither Almawave, its shareholders, nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. Any proposed terms in this presentation are indicative only. "

The distribution of this document and any related presentation in other jurisdictions than Italy may be restricted by law and persons into whose possession this document or any related presentation comes should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction.

Almawave S.p.A. Financial Results 9M 2022	2

Management team presenting

Valeria Sandei		Antonello Gresia		Raniero Romagnoli
CEO Almawave		CFO Almawave		CTO Almawave
§ Years in industry: 15+		§ Years in industry: 10+		§ Years in industry: 20+
§	Joined Almaviva Group: in 2004		§	Joined Almaviva Group: in 2012		§	Joined Almaviva Group: in 2011
§	Previously in Accenture and JP Morgan		§	Previously in Geox, Safilo Group, Accenture		§	Previously in RSA and HP

Almawave S.p.A. Financial Results 9M 2022	3

The natural interaction

with technology

We leverage on proprietary compositeAI technologies and big data core skills to address vertical business needs, deep diving information, simplifying any human to machine interaction, in complex environments

Almawave at glance 2022

AIW.MI IT0005434615

AlmavivA

66,01%

33,99%		Sustainability
Free Float		report 2021
Countries1	Clients	Tech Labs

29 >270 6

Branches

People

Partners

19 384 >25

Almawave S.p.A. Financial Results 9M 2022	5

		Summary of FY 2021 - Almawave group
		Revenues €		Revenues by type €
		33.1M		PRODUCT LEAD	€15.2M
		+23.1% growthYoY		46%	+69.8%
			YoY
		EBITDA €
Products		9.0M		54%	€18.0M
20		YoY			+31.2%
	+44.8% growth		SERVICE LEAD	YoY