Investors Presentation

3D PRINTERS & MATERIALS | PRODUCTS

2

DISCLAIMER

This document has been prepared by Prodways Group(the "Company") and is provided for informationpurposes only.The information and opinions contained in thisdocument are provided as of the date of this documentonly and may be updated, supplemented, revised,verified or amended, and thus such information may besubject to significant changes.The information contained in this document has notbeen subject to independent verification. Norepresentation, warranty or undertaking, express orimplied, is made as to the accuracy, completeness orappropriateness of the information and opinionscontained in this document. The Company, itssubsidiaries, its advisors and representatives accept noresponsibility for and shall not be held liable for any lossor damage that may arise from the use of this documentor the information or opinions contained herein.A detailed description of the Company’s business,financial situation and risk factors relating to theCompany and the initial public offering is included in theprospectus of Prodways Group (the “Prospectus”) whichreceived the approval of the Autorité des marchésfinanciers (the “AMF”) under n°17-174 on April 25, 2017,comprised of the registration document (document debase) registered by the AMF on March 23, 2017 undern°I.17-008 and a securities note (note d’opération) datedApril 25, 2017 (which contains, in particular, thesummary of the Prospectus) to which you are invited torefer to. Copies of the Prospectus are available on theAMF website (www.amf-france.org) as well as on theCompany’s website (www.prodways-bourse.com).

This document contains information on the Company’smarkets and competitive position, and more specifically,on the size of its markets. This information has beendrawn from various sources or from the Company’s ownestimates. Investors should not base their investmentdecision on this information.This document contains certain forward-lookingstatements. These statements are not guarantees of theCompany's future performance. These forward-lookingstatements relate to the Company's future prospects,developments and marketing strategy and are based onanalyses of earnings forecasts and estimates of amountsnot yet determinable. Forward-looking statements aresubject to a variety of risks and uncertainties as theyrelate to future events and are dependent oncircumstances that may or may not materialize in thefuture. Forward-looking statements cannot, under anycircumstance, be construed as a guarantee of theCompany's future performance and the Company’sactual financial position, results and cash flow, as well asthe trends in the sector in which the Company operates,may differ materially from those proposed or reflectedin the forward-looking statements contained in thisdocument. Even if the Company’s financial position,results, cash-flows and developments in the sector inwhich the Company operates were to conform to theforward-looking statements contained in this document,such results or developments cannot be construed as areliable indication of the Company's future results ordevelopments.This document does not constitute or form a part of anyoffer or solicitation to purchase or subscribe for

securities nor of any offer or solicitation to sell securitiesin the United States. The securities mentioned hereinhave not been and will not be registered under the U.S.Securities Act of 1933, as amended (the “U.S. SecuritiesAct”), and may not be offered or sold, directly orindirectly, within the United States except pursuant toan exemption from or in a transaction not subject to, theregistration requirements of the Securities Act.Prodways Group does not intend to register any portionof the proposed offering in the United States nor toconduct a public offering of securities in the UnitedStates.The distribution of this document may be restricted bylaw and persons into whose possession this documentcomes should inform themselves about, and observe,any such restrictions.

TABLE OF CONTENTS

A booming BtoB 3D printing market

PRODWAYS, a fully integrated provider of industrial 3D solutions

A complete offer with high technological value

Strong leverage potential

Strong ambitions for growth

A booming BtoB 3D printing market

4

5

3D PRINTING SOLUTIONS DISRUPTING THE INDUSTRY

A wide range of industrial and professional products…

… disrupted by a transformative technologyAEROSPACE

CONSUMER GOODS HEALTHCARE

Time and costs reduction

Facilitate manufacturingof high value-addedcomplex parts

Easy access to masscustomization

Promote flexibility andspeed

Optimize productproperties and accuracy

v

v

v v v

ELECTRONICS

Tooling

Indirect Metal (Foundry)v v

6

EXAMPLES OF GAINS ALLOWED BY 3D PRINTING TECHNOLOGY

25 to 30% productivity gains on manufacturing LEAP engine injectors

25% lighter

5x stronger than the current injectors

15% reduction in fuel consumption and CO2 emissions compared to current engines

30% to 40% time savings on the development of prototype devices

Production time reduced from 3 months to 1 week

Gain of about $1,700 per part (10 to 15 parts per set)

v

v

v

v

© Marcio Jumpei - AIRBUS HELICOPTER - H 175

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ays

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AEROSPACE

AUTOMOTIVE

CONSUMERGOODS

vv

v

7

THE “FACTORY OF THE FUTURE*” : ALREADY A REALITY

“With 3D printing, we are able to make moulds with very complex features. The idea is to have tread features

that can regeneratethroughout the life of tire”

Pierre ROBERT, Director of Michelins’ R&D centre Ladoux

January 12, 2017

“Additive manufacturing changes the game because it changes the

paradigm between the cost of manufacturing and the complexity of design”

David Joyce, CEO General Electric Aviation –September, 6, 2016

“GE has spent $1.5B on additive technology

research”

Reuters – October, 27, 2016

“ (…) in United States, hearingaids sectors has (…) movedto additive manufacturing

in less than 500 days, and none of the traditional[methods] have survived”

February-March 2016

“ Fa

cto

ry o

f th

e Fu

ture

” :

in F

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ch “

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” -

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ron

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pee

ch–

4th

Mar

ch 2

01

7

8

A BTOB 3D PRINTING MARKET REACHING €25 BN BY 2021

33%

33%

22%

12%

Rapid prototyping

Rapid manufacturing

Tooling/Casting

Others

CAGR 2010-2015: +30%

€4.7bn

No

te:

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m d

olla

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ro w

ith

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(201

6/12

/05)

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Rep

ort

201

6

B2B market represents 4% of the global printing market in volume but 82% in value

€24.8bn€1bn

CAGR 2015-2021e: +31%

2010(a) 2015(a) 2021(e)

PRODWAYS, a fully integrated provider of industrial 3D solutions

9

A BTOB SPECIALIST ON 3D RAPID MANUFACTURINGWITH A UNIQUE FULLY INTEGRATED PROFILE IN EUROPE

A presence on the entire 3D printing value chain

ON-DEMAND PARTS

ToolingFoundry Insole Healthcareparts

Aerospace parts

10

SYSTEMS

PRINTERS & MATERIALS

StereolitographyMovinglight®

Laser sintering Powders andLiquid resins

PRODUCTS

11

A SOLID BACKGROUND OF GROWTH

Bas

ed o

n 2

016

figu

res

>20

years of innovation

76

printers installed with62 customers

customers acquiring1,000,000+ parts

employees

248

1,200+

2016 revenue breakdown by geography

25%

42%

51%

33%

10%

19%

14%

6%

2014 2015 2016

Other

North America

Europe

France

x5€5M

€25.2M

PRODUCTS

48%

SYSTEMS

52%

2016 revenue breakdown by division

€25.2M

Top10 customers represent 21% of revenues

PLASTICS PARTS CERAMIC PARTSINDIRECT METAL

(tooling with plastic moulding)

DIRECT METAL PARTS

SYSTEMS R&D

PRODUCTS

ADRESSED MARKETS(priority markets

in red)

AerospaceHealthcare

AerospaceAerospace

Healthcare Healthcare

Automotive LuxuryEnergy

Electronics

Consumer products Industries Automotive

12

A GLOBAL MULTI TECHNOLOGY OFFER WITH A SELECTIVE SECTOR FOCUS

INDUSTRIESAEROSPACEAUTOMOTIVECONSUMER PRODUCTSHEALTHCAREOTHER

Breakdown of the B2B 3D printing market by sector in 2015

Sou

rce:

Wo

hle

rsR

epo

rt 2

016

20%24%

12%

13% 14%

17%

Breakdown global 2015 materials worldwide market**

OTHER

POLYMERS

METAL

FILAMENTS

71%

15%

3%

11% €768.5m

€4.7bn

**(including industrial systems and desktop 3D)

13

A BROAD POSITIONING ON RAPID MANUFACTURING WITH A SPECIALIST AND FULLY INTEGRATED PROFILE

INTEGRATED

NOT INTEGRATED

Multi techno

Mono technoRAPID PROTOTYPING RAPID MANUFACTURING

Generalists(address B2B & B2C markets)

Specialists(address B2B market)

14

Accelerate penetrationof Prodways systems

with clients

Easy access to newmarketsWell positioned toidentify sectors with thestrongest potentials(market intelligence)

Capture value from allbusinesses to increasemargins

v

v

++

ACQUISITIONOF 3D PRINTERS

CONSUMERS TESTING FIRSTTHE TECHNOLOGY AND

INDUSTRIAL FEAISIBILITY

+++ +

123

MATERIALS CONSUMABLES &

SUPPORT FOR PRINTERS

MATERIALS & SERVICES

PRINTERS ON-DEMAND PARTS

SYSTEMS PRODUCTS

SYSTEMS & PRODUCTS STRONG CROSS-SELLING SYNERGIES

REVENUES RECURRENCE

TECHNOLOGY PROVIDER FOR PRODUCTS

A complete offer with high technological value

15

Technological partners

France

Germany

US

Les Mureaux: Assembly and test of 3D printing systems & Tech centerAnnecy: Producs design and production centerBordeaux: Dental lab

Friedberg: R&D center for materials

Austin Tech centerProdways R&D sites

Partners for materialsPartner for systems Academic / R&D partners

André-Luc ALLANICR&D Director

Prodways co-founder and Head of Research & Development

Rewarded engineer of the year 2016 by the newspaper Usine Nouvelle

TECHNOLOGICAL EDGE ON THE BACK OF A SOLID R&D SETUP 31 engineers

16

13 patents*

.

A worldwide pionnier of 3D printing

*most expirating in October 2031

17

SYSTEMS DIVISIONWHY MOVINGLIGHT® IS A DISRUPTIVE TECHNOLOGY?

A combinaison of a LED light bulb and a DLP® microchip

Moving heads giving high precision and throughput

Handle high viscosity materials

CustomizeComplexity and weight

High repeatabilityShorter production time and cost reduction

High performance systems thanks to unique precision and speed

Strong competitiveadvantage

We have decided to launch our own production for premium dental aligners using Prodways machines. We have chosen these machinesas they are more precise than other market ranges. They also have a good price/quality ratio. They are faster and allow for unique design characteristics which is an advantage for manufacturers.

Testimonyof Dr. VOLKER DREVE,

CEO DREVE (Germany)

v v v

v v v

18

SYSTEMS DIVISION A LARGE AND COMPLETE OFFER THAT KEEPS WIDENING

Stereolitography with Movinglight® 9 Promaker (plastic and ceramic)

50 Materialswith different features compatible with specific 3D printing machines (mostly manufactured by Prodways)

Laser sintering7 Promaker

L series(plastic use)

LD series compact(plastic use)

V series(ceramic use)

Prodways poweredby Farsoon

P1000

20

17

All industrialapplications> €100,000

Professionaland industrial

applications< €100,000

PRODWAYS PRINTERS AND MATERIALS CAN BE SOLD TOGETHER OR SEPARATELY

Resistance andelasticity

Long shelf life

Physical and aestheticproperties(biocompatible,photosensitive)

v

v

POLYMER POWDERS

CERAMIC POWDERS (Zircone)

v v

LIQUID RESINS

v

20

17

MELTED METAL DEPOSITION

19

SYSTEMS DIVISION ADVANCED R&D PROGRAMS FOR DISRUPTIVE TECHNOLOGIES ON METAL

STEREOLITOGRAPHY MOVING LIGHT (V SERIES)

OBJECTIVE

INNOVATION

ADVANTAGES

CURRENT STEP

Manufacturing of complex metal parts (small size)

Manufacturing of complex metal parts (large size)

New metal 3D printing process usingmetal powder combined with organic binders

Development of a new printer for large direct metal blank

Less environmental impactPrinting process up to 5x faster*All types of metalsHigher degree of precision**

Significantly less wastage of rawmaterials*** Speed and flexibility of process****All types of metals

A major step forward :the first successful production of titanium parts

Titanium and aluminium aerospace blank shapes

produced and machined. Material properties being

assessedv

OBJECTIVE

INNOVATION

ADVANTAGES

CURRENT STEP

v

*than current direct metal 3D printing**compared to current metal 3D printing technology

***vs traditional machining (esp. Improvement of « buy to fly » ratio in Aerospace**** vs. foundry of optimised blank material

CRISTAL LAB ScientiFeet

PROVISIONALS MODELS SURGICAL GUIDES INSOLES

20

PRODUCTS DIVISION OVERVIEW

v v v vOn-demandparts

Service Bureau

Verticalstrategy

HealthcareApplications

v

21

Plastics and metalrapid prototyping

Plastics and metal series production in high-value applications

(healthcare, aerospace, luxury, foundry)

PRODUCTS DIVISIONSERVICE BUREAU / ON-DEMAND PARTS FOR THIRD-PARTY CUSTOMERS

Direct manufacturing: plastics/metal/ceramic

15,000 metal aircraft parts manufactured by Initial since its creation

Strong know-how on major technologies available on the market

1,000,000+ manufactured parts in 2016 1,200+ active customersA fleet of 30 printers (20 plastics and 10 metal

Prodways and non Prodways printers)

v v vv

Parts redesign

vvv

22

PRODUCTS DIVISIONA VERTICAL STRATEGY TO CAPTURE ADDITIONAL VALUE ON SELECT MEDICAL END MARKETS

Cristal allows Prodways Group to showcase its 3D printing

applications to the dental industry

Offer launched at end 2016

ScientiFeetScanning & 3D modelling for podiatrists Acquired in 2016

Cristal,Prodways internal dental lab

Stellites Provisionals Models Gutters Surgical guides

Portfolio of 170 dental surgeons

50% of its revenueswith mutual healthinsurance companies

Full range of dentaldevices

v

v

€2.6 million revenues in 2016 (6 months)France and Germany

market: 9 million pairs of insoles manufactured each year

Podo 3D has alreadysold 4,000 insolessince launch

v

v

Strong leverage potential

23

OTHERS INDUSTRIES 19%

SERVICE BUREAU 8%

UNIVERSITY / R&D 8%

AEROSPACE 9%

HEALTHCARE40%

ELECTRONICS 4%

AUTOMOTIVE 4%

CONSUMER PRODUCTS 7%

24

REVENUES DYNAMIC

Revenue by division

5

10.613.1

7.2

12.2

0

10

20

30

2014 2015 2016In m€

SYSTEMS PRODUCTS

15

40

76

0

40

80

2014 2015 2016

Installed base of 3D printers(cumulative amount)

Systems Division

2016 revenues breakdown by sector

5.0

17.8

25.2

€25.2m

0

50

100

150

200

250

300

N N+1 N+2 N+3 N+4

PRINTERS MATERIALS SERVICES

25

SYSTEMS DIVISION A VIRTUOUS MODEL OF RECURRING REVENUES

Illustration : Recurring revenues model of a 3D printer on 5 years (base 100)

ASSUMPTIONS: Industrial use and using an average consumption Materials & Services70%

Printers30%

Revenues breakdown after five years

Cumuled amountafter five years337.6

Prodways printers and materials can be sold together or separately (with a recurring

compensation fee for printers sold on a stand-alone basis)

26

17 direct sales employees

* Non-exclusive basis

14

1919

16

8

29 distributors*

Number of printers sold at the end of 2016 Direct and indirect sales forces

AN EFFICIENT SALES ORGANIZATION WITH INDIRECTAND DIRECT GLOBAL SALES FORCES

27

A WELL-SIZED COMPANY READY TO WELCOME FORTHCOMING GROWTH

1 61

188

248

2013 2014 2015 2016

Employees

Emanuel MESARICMaterials

Alban d’HALLUINMachines

Morgan FRANCHealthcare

Yvon GALLETOn Demand parts

Stéphanie KARSENTYHead of Marketing

André-Luc ALLANICHead of R&D

Pierre-Olivier GISSEROTHead of Finance

Raphaël GORGÉ Chairman & CEO

SYSTEMS (114 employees)

PRODUCTS (130 employees)

28

FULL-YEAR RESULTS

EBITDA (Earnings Before Interests, Taxes, Depreciation and Amortization) = operating income + net depreciations and provisions + other non current operating income

Products Division starting to generate revenues in 2015, afterInitial’s acquisition

Product Division already profitable

Structuration of the company to support organic and external growth

REVENUES

o/w Systems

5.0

2014 2015 2016

o/w Products

EBITDA

o/w Systems

o/w Products

o/w structure

OPERATING INCOME

GROUP NET PROFIT

5.0

-

(2.1)

(1.9)

-

(2.8)

(1.9)

(0.2)

17.8

10.6

7.2

(2.9)

(3.4)

1.2

(5.1)

(6.0)

(0.7)

25.2

13.1

12.1

(4.9)

(5.4)

1.4

(8.9)

(8.3)

(0.9)

(in millions of euros)

CURRENT OPERATING INCOME

o/w Cost of supplies and consumable materials

o/w personnel expenses

(5.4)

(3.6)

(14.6)

(9.6)

(16.6)

(14.9)

(2.4) (4.5) (8.1)

TOTAL LIABILITIES

TOTAL ASSETS

29

The Group's tangible assets consist mainly of 3D printers

€8.7m cash available et end 2016

NON-CURRENT ASSETS

o/w intangible assets

16.2

2014 2015 2016

o/w tangible assets

4.1

1.0

23.7

29.7

5.6

4.4

50.7

33.8

6.7

5.7

55.6

o/w other non-current assets

CURRENT ASSETS

CASH AND CASH EQUIVALENTS

1.2 1,8 2.8

6.0 13,2 13.1

1.5 7.8 8.7

(in millions of euros)

EQUITY 15.5

2014 2015 2016

23.7

34.2

50.7

26.0

55.6

NON-CURRENT LIABILITIES

CURRENT LIABILITIES

0.3 3.2 14.1

8.0 13.3 15.4

0.1 0.6 2.9

(in millions of euros)

BALANCE SHEET

o/w goodwill 9.9 17.9 18.6

o/w non current financial debt - 2.7 13.4

o/w current financial debt

30

CASH FLOW STATEMENT

Technological investments made to maintain the Group’s leading edge

GROUPE GORGÉ has invested € 30 million. FIMALAC DEVELOPPEMENT has invested € 10 million in bonds redeemable for shares

2014 2015 2016

CASH FLOW LINKED TO ACTIVITY

CASH FLOW LINKED TO FINANCING

TOTAL CASH FLOW

(2.3)

1.0

(0.1)

10.2

9.9

1.2

(0.2)

(3.8)

(0.7)

(0.1)

21.9

23.5

6.4

1.6

(6.3)

(0.1)

-

-

9.0

(1.0)

9.0

(in millions of euros)

SELF-FINANCING CAPACITY AND TAXES

CHANGE IN WORKING CAPITAL REQUIREMENT

INTANGIBLE AND TANGIBLE INVESTMENTS

NET CASH ON ACQUISITIONS

OTHER

CASH FLOW LINKED TO INVESTMENTS

CAPITAL INCREASE OR CONTRIBUTIONS (1)

BORROWINGS AND COST OF DEBT

(1.2) (4.5) (6.3)

(1.1) (4.5) (3.4)

(6.3) (8.0) (0.3)

(7.5) (12.6) (3.7)

(1) including bonds redeemable in shares

STRONG NEWS SINCE JANUARY 2017

First Quarter 2017 Revenues

3,6 3,9

2,3

3,7

0

10

2016 2017In m€

SYSTEMS PRODUCTS

5,9

7,6

+ 25,4 %

31

Agreement for co-developments of printable materials and methods of assembling these materials with inorganic compounds such as ceramics or metal

Signing of a major technological partnership

Contract length:

VALIDATION OF PRODWAYS GROUP TECHNOLOGY

GROWTH IN LINE WITH OUR EXPECTATIONS59% of growth on Products division11 machines sold in Q1, versus 8 per quarter on average in 2016

Objectif & innovation :

5 years

Strong ambitions for growth

32

33

AN AMBITIOUS STRATEGY TO INCREASE MARKET SHARES ON BOTH ITS SYSTEMS AND PRODUCTS DIVISIONS

Widening technology portfolio and keep increasing our systemspenetration with clients (and with Initial)

Priority markets

Cristal dental lab

ScientiFeet

Less than €K30

HIGH-ENDMARKET

MID PRICEDMARKET

Entry-level P1000& LD series (less than €100K)

Similar margins as high-end market

Prodways market target

SYSTEMS PRODUCTS

Ramp up on Initial existing clients

Widening our clients portfolio with new accounts AEROSPACE

HEALTHCARE

Increase market shares with our healthcare verticals

Broaden customers range by entering the mid-priced segment

34

CAGR 2016-2019e Prodways: > Market +4%

* So

urc

e W

oh

lers

Prodways Group forecasts to overperform by more than 4 points

the BtoB market growth over the next 3 years

> €62M€25M

CAGR 2015-2021e market: +31% *

2016(a) 2019(e)

A TARGET RAMP-UP ON ALL DIVISIONS TO OVERPERFORM MARKET BY MORE THAN 4 POINTS BY 2019 (WITHOUT MAJOR ACQUISITIONS)

35

A SCALABLE BUSINESS PROFILE WITH A NEAR TERM EBITDA MARGIN BREAK-EVEN

EBITDAbreakeven anticipatedto be reached

in Q4 2017

An EBITDAmargin forecast

in the double digit

area by 2019

Growing installed base driving margin gains withrecurring materials and services revenues (highermargins)

Equipment optimized in design to cost

Ramp-up of Prodways branded 3D printers(P1000 and LD series) to address a broader market

Ramp-up of ScientiFeet and Cristal dental lab

Company structured for growth: limited increase in overheads

Prodways already scaled for 150 printers manufactured each year

Improvement of gross margins Higher absorption of fixed costs

36

A FUNDRAISING FOR…

WORKING CAPITAL

Finance working capitalrequirements

v

v

R&D

Improve our existing technologies

Develop new disruptive technologies(in metal, but not only)

v

v

EXTERNAL GROWTH

Targets: complementarytechnologies or applications

Leverage on Prodways M&Aacquisition and integration trackrecord

v

v

60%25%15%

37

TIMINGA booming industrial

3D printing market (B2B)

UNIQUEThe European specialist with a

presence on the whole value chain

(integrated model)

INNOVATIONA disruptive technology with

MOVINGLight®

RECURRENCEA machines / materials couple

providing strong visibility on revenues

INVEST IN PRODWAYS, THE FRENCH CHAMPION OF 3D PRINTING

CONFIDENCESupported by a

leading industrial player *& top-level financial

investors **

PERFORMANCEStrong growth ambitions

with profitability breakeven to be reached soon

* Safran Corporate Ventures** BNP Paribas Développement, Bpifrance Participation, Fimalac Développement & Financière Arbevel

Appendices

38

0

5

10

15

20

25

30

39

GROUPE GORGÉ, A FAMILY GROUP FOCUSED ON INDUSTRIAL INNOVATION

A listed group since 1998 majority owned by the Gorgé family and managed since 2008 by R. GORGÉAn independent group specialized in high tech industriesAn historical know-how to move technology from R&D phase into production environment €281m 2016 revenues €285m market cap (as of 24th April 2017)

3D printingProtection of High-Risk InstallationsSmart Safety Systems

61.1% 96.2%

Founded in 2008 by Dr André-LucALLANIC as a 3D printing systemsmanufacturer, Prodways was acquiredby Groupe Gorgé in 2013

Prodways Group has since then grownquickly with revenues increasing from€0.1M in 2013 to €25.2M in 2016 (byorganic growth and acquisitions)

v

vListed Non Listed Fundraising in 2017

100%

20

16

figu

res

Perf. 2013-YTD

Groupe Gorgé : +253%

ECA : +194%

Source: Bloomberg

Listed

Share price (€)

Sto

ck p

erfo

rman

ce s

ince

201

2

40

MAIN TECHNOLOGIES ON 3D PRINTING MARKET

PRECISION

Processes based on photopolymerization includeStereolithography (SLA), Digital Light Processing(DLP), Polyjet and Multi-Jet Modeling (MJM)

The basic principle of these processes is to useliquid polymers able to harden in contact withthe light (photopolymer)

These processes are mainly used byprofessionals, especially in the medical sector

MARKET

Stereolitography Laser Sintering

Processes based on bonding powders includeLaser Sintering, 3D Printing (3DP) or Electron Beam Melting (EBM)

The basic principle of these processes is to usean input in the form of powder which is fusedlayer by layer to form the piece to be printed

These processes are exclusively used byprofessionals, especially in the aerospaceindustry

v v

+++Mostly BtoB

+Mostly BtoB

Fused Deposition Modeling

Processes based on progressive melt deposit

This technology of printing is mainly usedby individual printers

Main usable materials are thermoplastics (ABS,PLA…)

v

-Mostly BtoC

PRODWAYS FOCUS

41

OVERVIEW OF THE MAIN STEPS OF THE PROCESS OF 3D PRINTING

Creation orprocurement of a 3Dmodel

vv

Creation of the 3D model through a design software or a 3D scanner or procurement through

an exchange platform

1

Transformation of the3D model in a usablefile for printing

vv2

Choice of materialsfor printing

vv3

Realization of the 3Dprinting

vv

4

Finishes

vv5

Choice of materials to beused according to the

characteristics(prototyping of finished

products, technicalproperties), the object

and the printing technology used

Adjustment of the 3D printer and realization

of 3D printing (adjustment of the axis of the printing plates,

positioning, preheatingof the extrusion head,

etc.)

Finishes (cleaning, solidification and

coloring)

Sou

rce:

Wo

hle

rsA

sso

ciat

e

v

v

42

FROM RAPID PROTOTYPING TO RAPID MANUFACTURING

… 2010 2016

Rapid prototyping

Small series production

INDUSTRIAL PHASE

INDUSTRIALIZATION

3D printing enabled to substantially reduce the time needed for producing prototypes

In many industries, 3D printing has evolved to tool manufacturing to improve industrial process

Series production are starting to be developed in several industries such as industrial/business

machines, aerospace, automotive, medical and dental

In the long run, 3D printing expected to spread within all the sectors of the global economy and to cover mass market production.The acquisition of Arcam and Concept Laser by GE marks the entry

into the industrial phase.

*Source : General Electric

HEARING AID AUTOMOTIVE

v

v

v

v

43

A complete and fully integrated offer based on organic and external growthto capture a large value creation on the entire value chain

90’ 2007 2013 2014 2015 2016

Dr ALLANIC PhD, one of the

pioneers of the 3D printing

market, imagineda revolutionarynew system of

UV photo-polymerization

Creation of MOVINGLight® technology and

foundation of Phidias

technologycompany

Creation of Prodwaysfrom the

acquisition of Phidias

technology by Groupe Gorgé

Acquisition of Deltamed, leader in material development for 3D

printing

Acquisition of a 20% stake in Dentosmile, a French

manufacturer of transparent and scalable aligners by 3D printing

Partnership with CEA(1) ,Dreve and DSM Somos

Development of partner network in EMEA, Asia and USA

Acquisition of Norge, manufacturer of 3D printing

systems (laser sinteringtechnology - SLS®)

Acquisition of Initial, main France service bureau

Investment in Varia3D, service provider in the USA

(laser sintering)

Acquisition of Exceltec, manufacturer of powders for

laser sintering

Creation of ProdwaysAmericas

subsidiary

R&D partnershipwith Hunan

Farsoonon plastic & metal

laser sinteringtechnology

Launch of the 1st industrial laser sintering

printer with a <100 K€price tag (P1000)

Launch of Cristal

Creation of PODO 3D

A CONTINUOUSLY GROWING COMPANY CAPITALIZING ON MORE THAN 20 YEARS OF INNOVATION

PODO 3D

(1) French Atomic Energy Commission

44

PRODWAYS GROUP SIMPLIFIED LEGAL STRUCTURE (NON DILUTED BASIS)

Groupe Gorgé

96.2%Managers

3.8%

SYSTEMS DIVISION PRODUCTS DIVISION

Prodways SAS

France

Prodways Americas

Inc - US

Deltamed

Gmbh - Germany

Prodways Materials

Gmbh - Germany

Exceltec

SARL - France

Initial

SAS - France

Cristal

SAS - France

Dentosmile

SAS - France

Podo 3D

SAS - France

Prodways Conseils

SAS- France

Varia 3D

Inc - US

All

sub

sid

iari

es a

re 1

00%

hel

d w

ith

th

e ex

cep

tio

n o

f P

od

o3D

(82

%),

Cri

stal

(9

5%

),

Pro

dw

ays

Co

nse

ils(9

0%),

Den

tosm

ile(2

0%)

and

Var

ia3D

(45

%)

45

KEY MANAGERS OF PRODWAYS GROUP

RaphaëlGORGÉ

Chairman and CEO

Joined Groupe Gorgé in 2008 as CEO, after a 10-year professional career in finance and technologyGraduated as an engineer with a Master’s degree in chemistry

Pierre-Olivier GISSEROT

CFO

Joined Prodways Group as CFO in 2016Previously CFO of a cosmetic start-up from 2012 to 2016 and CFO at Alstom Transport & Power from 2004 to 2012Graduated from ESCP Europe

André-Luc ALLANIC

R&D Director

Co-founder and Head of Research & DevelopmentInventor of the proprietary technology Movinglight® in 2007, he is considered as one of the pioneers of the marketCo-founder of Optoform in 1997 sold in 2001 to 3D Systems, one of the leading players in the 3D printing marketWorked at the French National Center for Scientific Research (CNRS) and developed some of the first 3D printers in Europe (1990s)Graduated with a PhD in chemistry

StéphanieKARSENTY GOURDEN

Marketing & Communication Director

Joined Prodways as Marketing & Communication Director in 2015Previously Marketing & Communication Director of Pitney Bowes from 2010 to 2015, and held different positions at Lexmark from 1997 to 2010Graduated from HEC and holder of a Master in Corporate Finance

46

KEY MANAGERS OF PRODWAYS GROUP

YvonGALLET

CEOProdways Design and Production

Co-founder and CEO of Initial (since 1991)Mr. GALLET started his career in Salomon (sports equipment manufacturer) in the Bindings R&D Department

MorganFRANC

DirectorProdwaysHealthcareapplications

Joined Prodways as Director of Medical applications in 2015Began his career with General Electric where he undertook various roles within different divisions of the group: GE Corporate (UAE), GE Healthcare (France), GE O&G (Angola). He then worked for the Boston Consulting Group before setting up his own solar development company which he sold after 2 years to a US developerGraduated from HEC and Harvard Business School

AlbanD’HALLUIN

Head of 3D Machines

Joined Prodways as Development Manager in 2015 and became CEO of Prodways Technology in 2016Previously Director of International Business Development at Connecthings (Tag Management System) from 2009 to 2012, Product and Applications Manager at Tiempo IC (design of innovative clocklessintegrated circuits) from 2008 to 2009 and Marketing Manager at Let it Wave (fabless semiconductor company) from 2004 to 2008Graduated from Polytechnique and Harvard

Emanuel MESARIC

CEOProdwaysMaterials

Joined DeltaMed in 2002 where he took over very quickly the position of General Manager. He became CEO of Prodways Materials following the acquisition of DeltaMed by Prodways Group in 2014Mr. MESARIC is recognized as an expert in resins and 3D materialsGraduated from a Master of Business Administration and Engineering from Technische Hochschule Mittelhessen (Germany)

SHAREHOLDING STRUCTURE AS OF MAY 23RD, 2017

47

65,24%21,61%

2,21%

0,38%

6,83%

0,40%

1,82% 1,51%

Groupe Gorgé Free Float

André-Luc Allanic Other management and corporate officers

FIMALAC DEVELOPPEMENT BNP DEVELOPPEMENT

SAFRAN CORPORATE VENTURES BPIFRANCE

WWW.PRODWAYS-BOURSE.COM