Cerved S p A : Results as of March 31st, 2021 - Presentation

Results

to 31 March 2021

12 May 2021

Cerved Group S.p.A.

Table of Contents

1. Executive Summary
2. Business Review
3. Financial Review

4 Commitment to ESG

Appendix

1

Executive Summary

Macroeconomics

Q1 2021

Financial

Results

Covid-19

Investor Day

After falling sharply in 2020, Italian GDP is expected to grow 3.5% in 2021 and 3.8% in 2022 based on forecasts by Bank of Italy

The economic support and recovery measures financed by the national budget and the EU funds are key ingredients for the recovery starting from H1 2021

Revenues of EUR 124.1m +1.9% vs Q1 2020, +1.6% organic

Adjusted EBITDA of EUR 52.3m +0.1% vs Q1 2020, flat on organic terms Operating Cash Flow of EUR 44.3m, +51.3% vs Q1 2020

Adjusted Net Income post minorities of EUR 26.9m -1.9% vs Q1 2020 Leverage of 2.7x LTM proforma Adjusted EBITDA

COVID-19 situation gradually improving in Q2 2021 following lockdowns in the prior months, and a vaccination campaign which is rapidly progressing

Investor Day on 26 March 2021 in order to illustrate Cerved's 2021-2023 Strategic Outlook Strong focus on ESG strategy with introduction of SDG-related targets to STI remuneration

2

Voluntary public tender offer

Cerved Group SpA received a voluntary tender offer from Castor Srl on 8 March 2021

• The offer was unsolicited and unexpected
• The Board of Directors is currently evaluating the relevant terms and conditions of the offer
• It will provide all the information useful for the Company's shareholders to properly evaluate the offer under the Statement of the Board of Directors to be published by the trading day before the beginning of the tender period
• UBS and Mediobanca have been appointed as financial advisers as well as BonelliErede and Carbonetti as legal advisers

Impact of the offer on Cerved's day-to-day business activities

• No adverse affect Cerved's day-to-day business activities
• The Board of Directors and management are conducting the business in the ordinary course, in the best interest of Cerved, its shareholders and stakeholders and with the utmost attention for, and in strict compliance with, applicable laws and regulations

Q&A

• Today's focus is exclusively on Cerved's Q1 results, consequently the Q&A session will not address any questions related to the prospected voluntary public tender offer

3

Consistent Growth and Cash Flow Generation

% / %	Total CAGR% /
Organic Growth %

Revenues (€m)

Consistent Growth

+6.9%/ +3.5%

CAGR '12-'20

			521
			488
			458
	313 331 353 377	401	394
291
		+1.9%
			122 124

2012 2013 2014 2015 2016 2017 2017 2018 2019 2020	Q1	Q1
	20	21

Not restated	Application of
	IFRS 9, 15, 16

Adjusted EBITDA1 (€m)

Sustainable profitability

	+4.6%/ +2.5%
	CAGR '12-'20
			237
		213	204
	171	180 187 186
145 152 160
				+0.1%
				52	52
2012 2013 2014 2015 2016 2017 2017 2018 2019 2020	Q1	Q1
				20	21

Not restated	Application of
	IFRS 9, 15, 16

Operating Cash Flow (€m)

High cash flow generation

+2.8%

CAGR '12-'20

	160 158
136 144 143 143	139
126
111 108
		+51.3%
			44
		29
2012 2013 2014 2015 2016 2017 2017 2018 2019 2020	Q1	Q1
		20	21

Not restated	Application of
	IFRS 9, 15, 16

4 1) 2017 Adj. EBITDA includes €4.0m adjustment for IFRS 16