SeSa S p A : Board of Directors - Interim Report as of July 31, 2021 (three-month period)

PRESS RELEASE

APPROVAL OF THE INTERIM REPORT FOR THE FIRST QUARTER AS OF JULY 31, 2021

First Quarter results as of 31 July 2021 (comparison with results as of 31 July 2020)

• Consolidated Revenues and Other Income: Eu 552.8 million (+13.3%)
• Consolidated Ebitda: Eu 38.5 million (+35.7%)
• Ebitda margin equal to 7.0% vs 5.8% in the first quarter of the previous Fiscal Year
• Consolidated Adjusted Net profit attributable to the Group1: Eu 18.9 milioni (+46.1%)
• Consolidated management NFP2 active (cash & liquidity) equal to Eu 137.2 million vs Eu 34.0 million
• The investments in human resources continue reaching the threshold of 3,567 employees (vs 2,842 +25.5% Y/Y)
• In light of the quarterly results, favourable outlook and increase in profitability guidance are confirmed for the Fiscal Year as of April 30, 2022

Empoli (FI), September 14, 2021

The Board of Directors of Sesa S.p.A., reference player in Italy in technological innovation and digital services for the business segment, today approved the consolidated Interim Report as of July 31, 2021 relative to the first quarter of the Fiscal Year ending April 30, 2022, prepared in accordance with EU-IFRS accounting standards.

The profitability of the Group in the first quarter of the current Fiscal Year grows above expectations and increases by about 2.5 times compared to the average annual growth recorded in the period 2011- 2021 (CAGR Ebitda +13.9% and CAGR EAT +17.5%).

The Group further strengthens its positioning in the sector of services and solutions for the digital transformation of companies, in the current phase of recovery from the pandemic emergency characterized by the acceleration of the demand for digitalization, with growth forecasts for the Information Technology reference market equal to annual average of 7.2% for the three-year period 2021-2023.

In the quarter considered, the Group benefited from the contribution deriving from external growth, equal to approximately 50% of the growth in the period, developing skills and human capital which reaches a total of 3,567 employees compared to 2,842 as of July 31, 2020.

At consolidated level, Revenues and Other Income in the first quarter grow by 13.3% and amount to Eu 552.8 million, with a significant development of all sectors of the Group:

• VAD sector achieves Revenues and Other Income equal to Eu 429.5 million (+10.1% Y/Y) favoured by the development in the Security, Cloud and Digital Green segments;
• SSI Sector achieves Revenues and Other Income equal to Eu 129.5 million (+21.8% Y/Y) thanks to the development in the areas with the greatest growth of digital transformation (Cloud, Digital Security, Software and Vertical Applications, Managed Services, Digital Engineering);

1. Adjusted Net Profit attributable to the Group before amortisation and depreciation of intangible assets (client lists and know-how) recorded following the Purchase Price Allocation (PPA) relating to corporate acquisitions, net of the related tax effect, equal to Eu 1,743 thousand as of July 31, 2021
2. Management Net Financial Position, calculated gross of liabilities to minorities shareholders and Earn Out for M&A for Eu 89,241 thousand, compared to Eu 24,883 thousand as of July 31, 2020. Total NFP Reported as of July 31, 2021 active for Eu 47,975 thousand, vs Eu 9,164 thousand as of July 31, 2020

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37,126,927.50 f.p.,

VAT number, Fiscal and number on the Florence Company Register 07116910964

Ph. Number: 00 39 0571 997444; website www.sesa.it

• Business Services Sector achieves Revenues and Other Income equal to Eu 13.9 million (+16.3% Y/Y), with a significant contribution from the new Digital Platform business unit.

Thanks to the growth in revenues (+13.3% Y/Y) and in the operating profitability of all sectors of the Group, the consolidated Ebitda increased by +35.7% Y/Y, reaching a total of Eu 38,460 thousand, with an Ebitda margin of 7.0%, a strong improvement compared to 5.8% Y/Y. All the reference sectors of the Group contributed to the consolidated EBITDA result, with a contribution of external leverage (M&A) equal to approximately 50% of the Y/Y growth:

• VAD sector achieves an Ebitda of Eu 19,321 thousand, up by 34.1% Y/Y (Ebitda margin 4.5% compared to 3.7% Y/Y);
• SSI sector reaches an Ebitda of Eu 16,666 thousand, up by 33.3% Y / Y (Ebitda margin 12.9% compared to 11.8% Y/Y);
• Business Services sector reaches an Ebitda equal to Eu 1,734 thousand, up by 163.9% Y/Y (Ebitda margin of 12.5%, significantly improved compared to 5.5% Y/Y), thanks to the significant contribution of the new Digital Platform business unit.

The consolidated Operating Result (Ebit) is equal to Eu 27,384 thousand, up by 39.6%, after amortizations for a total of Eu 7,067 thousand (+28.0% Y/Y) and provisions and other non-monetarycosts for Eu 1,560 thousand (-5.3%Y/Y). The consolidated Adjusted Operating Result (Ebit Adjusted) gross of amortizations of intangible assets, customer lists and know-howrecorded following the PPA process for Eu 2,449 thousand in the quarter (influenced by the acceleration of investments in company acquisitions), is equal to Eu 29,833 thousand with an increase of 40.8% Y/Y.

The consolidated Net profit after minority interests (profit attributable to the shareholders of the Group) in the first quarter is equal to Eu 17,187 thousand, increasing by 45.1% Y/Y. The consolidated Adjusted Net profit after minority interest (profit attributable to Group shareholders before amortization of intangible assets, customer lists and know-how recorded following the PPA process net of the related tax effect equal to Eu 1,743 thousand) is equal to Eu 18,930 thousand, up by 46.1% Y/Y.

The Management Net Financial Position of the Group2 is active (cash and liquidity) for Eu 137,216 thousand, in strong improvement compared to Eu 34,047 thousand as of July 31, 2020 (for a total of Eu 103,169 thousand thanks to the operating cash flow).

The Total Net Financial Position Reported2 as of July 31, 2021 is active (cash and liquidity) for Eu 47,975 thousand, improving from Eu 9,164 thousand as of July 31, 2020, thanks to an operating cash flow in the last 12 months of approximately Eu 150 million and net of investments for a total of Eu 110 million in the same period, of which Eu 90 million in corporate acquisitions (M&A).

In the period considered, the consolidated Shareholders' Equity is further strengthened, which as of July 31, 2021 amounted to Eu 292,556 thousand, increasing from Eu 266,589 thousand as of July 31, 2020.

In light of the positive results achieved in the quarter in all business sectors, the expected contribution from external leverage thanks to the 11 acquisitions performed from January 2021 and the expectations of growth in demand for digitalization in the markets in which it operates, the Group confirms the favourable outlook for the Fiscal Year that will end on April 30, 2022, with a guidance of profitability growth of approximately +30% Y/Y, increasing from that previously communicated equal to approximately +20%, continuing to invest in long term sustainable growth for the benefit of the following years.

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37,126,927.50 f.p.,

VAT number, Fiscal and number on the Florence Company Register 07116910964

Ph. Number: 00 39 0571 997444; website www.sesa.it

The Chairman Paolo Castellacci and the Chief Executive Officer Alessandro Fabbroni commented on the results as of July 31, 2021 as follows:

"We continue to benefit from the large investments in skills and technologies in support of our customers, enabling digital evolution of management models of businesses and organizations. Our positioning on the market, thanks to the skills and specializations of our human resources, will allow us to continue to grow in a sustainable way, developing innovative solutions on the market together with our stakeholders", stated Paolo

Castellacci, Chairman and founder of Sesa.

"We close a quarter with an increase in revenues and profitability higher than expected, thanks to the acceleration of the demand for digitalization and the positive contribution of specializations and skills, with operational growth of over 30% in all sectors of the Group. In light of the performance of the quarter, the growing and positive positioning of the Group in the segments of digital transformation services and application technology solutions, as well as the acceleration of the growth path through external lines, which we will continue to pursue for the remainder of the year, we confirm the favourable outlook for the Fiscal Year as of April 30, 2022, continuing the management with the objectives of creating sustainable and long-term value", stated Alessandro Fabbroni, CEO of Sesa.

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Here attached you can find the following exhibits (in thousand Euros):

Exhibit n. 1 - Reclassified Consolidated Income Statement as of July 31, 2021

Exhibit n. 2 - Reclassified Consolidated Balance Sheet as of July 31, 2021

Exhibit n. 3 - Consolidated Income Statement as of July 31, 2021

Exhibit n. 4 - Consolidated Statement of Financial Position as of July 31, 2021

Exhibit n. 5 - Segment Information as of July 31, 2021

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This press release is also available on the company's website www.sesa.it, as well as on the authorized storage mechanism eMarket Storage consultable at the website www.emarketstorage.com.

Conference Call: Tuesday September 14, 2021 at 4.00 pm (CET), Sesa S.p.A. will hold a conference call with the financial community, during which the Group's economic and financial results will be discussed. You can connect by dialing the following telephone numbers: from Italy [phone], from the United Kingdom [phone], from the USA [phone] (local international number), 1 855 2656959 (toll free). Before the telephone conference it will be possible to download the slides of the presentation from the Investor Relations page of the Sesa website, http://www.sesa.it/it/investor-relations/presentazioni.html.

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Dr. Alessandro Fabbroni, in his capacity as manager in charge of preparing the Corporate Accounting documents, declares pursuant to paragraph 2 of article 154 bis of the Consolidated Finance Act, that the accounting information contained in this press release matches the information included in the accounting books and records.

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SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37,126,927.50 f.p.,

VAT number, Fiscal and number on the Florence Company Register 07116910964

Ph. Number: 00 39 0571 997444; website www.sesa.it

Sesa S.p.A., based in Empoli (FI), active on the whole national territory with presence over some foreign countries including Germany, Switzerland, Austria, France, Spain, Romania and China, is the holding of a Group which constitutes the reference player in Italy in technological innovation and digital services for the business segment, with consolidated revenues of approximately Euro 2,037 million and 3,500 employees as of April 30, 2021.

Sesa Group has the mission of offering technological solutions and digital transformation services to companies and organizations, supporting them in their innovation path. Thanks to the skills and specialization of its human resources, Sesa Group operates in the value-added segments of Information Technology, such as Collaboration, Cloud, Digital manufacturing, ERP & Vertical Solutions, Business Services, Digital Security, Customer Experience.

Sesa Group operates through four main business sectors:

• VAD (Value Added Distribution) sector with revenues of about Euro 1,600 million and 425 human resources as of April 30, 2021;
• SSI (Software and System Integration) sector with revenues of about Euro 480 million and 2,500 human resources as of April 30, 2021;
• Business Services sector with revenues of about Euro 47 million and 410 human resources as of April 30, 2021;
• Corporate sector with revenues of about Euro 20 million and 200 human resources as of April 30, 2021.

Sesa Group pursues a sustainable development policy for the benefit of its Stakeholders and has achieved in the period 2011-2021 a track record of continuous growth in employment, revenues (CAGR revenues 2011-2021 +10.6%) and profitability (CAGR Ebitda 2011-2021 +13.9%).

In 2021, the Company introduced sustainability in its bylaw and launched the B Corp certification process. Sesa S.p.A. is listed on the STAR segment of Borsa Italiana MTA Market (ISIN Code: IT0004729759).

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SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37,126,927.50 f.p., VAT number, Fiscal and number on the Florence Company Register 07116910964

Ph. Number: 00 39 0571 997444; website www.sesa.it

Exhibit 1 - Reclassified Consolidated Income Statement of Sesa Group as of July 31, 2021 (thousands of Euros). Results as of 31/07/2021 approved by the Board of Directors on September 14, 2021, unaudited

Reclassified Income Statement	31/07/2021	%	31/07/2020	%	Change
(3 months)	(3 months)	2021/20
Revenues	547,777		484,168		13.1%
Other income	4,978		3,642		36.7%
Total Revenues and Other Income	552,755	100.0%	487,810	100.0%	13.3%
Purchase of goods	(422,117)	76.4%	(385,708)	79.1%	9.4%
Costs for services and leased assets	(43,908)	7.9%	(37,116)	7.6%	18.3%
Personnel costs	(47,044)	8.5%	(35,625)	7.3%	32.1%
Other operating charges	(1,226)	0.2%	(1,012)	0.2%	21.1%
Total Purchase of goods and Operating Costs	514,295	93.0%	459,461	94.2%	11.9%
Ebitda	38,460	7.0%	28,349	5.8%	35.7%
Amortisation tangible and intangible assets (sw)	(7,067)		(5,519)		28.0%
Accruals to provision for bad debts and risks and other	(1,560)		(1,648)		-5.3%
non-monetary costs
Adjusted Ebit*	29,833	5.4%	21,182	4.4%	40.8%
Amortisation client lists and technological know-how	(2,449)		(1,569)		56.1%
(PPA)
Ebit	27,384	5.0%	19,613	4.0%	39.6%
Net financial income and charges	(1,299)		(994)		30.7%
Ebt	26,085	4.7%	18,619	3.8%	40.1%
Income taxes	(7,550)		(5,441)		38.8%
Net profit	18,535	3.4%	13,178	2.7%	40.7%
Net profit attributable to the Group	17,187		11,844		45.1%
Net profit attributable to non-controlling interests	1,348		1,334		1.0%
Adjusted Ebt*	28,534	5.2%	20,188	4.1%	41.3%
Adjusted Net profit*	20,278	3.7%	14,295	2.9%	41.9%
Adjusted Net profit attributable to the Group*	18,930	3.4%	12,961	2.7%	46.1%

• Adjusted Ebit and Adjusted Ebt before amortisation and depreciation of intangible assets (Client lists and Know-how) recorded following the Purchase Price Allocation (PPA). Adjusted Net profit and Adjusted Net profit attributable to the Group before amortisation and depreciation of intangible assets (Client lists and Know-how) recorded following the Purchase Price Allocation (PPA), net of tax effect.

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37,126,927.50 f.p.,

VAT number, Fiscal and number on the Florence Company Register 07116910964

Ph. Number: 00 39 0571 997444; website www.sesa.it