Warsaw, 26 August 2015

Presentation of financial results in 1H2015

Qumak SA is an IT and technological company. It implements innovative IT solutions in service enterprises (telecommunications, finance) and in sectors: industry, infrastructure, education, and public administration. The Company simultaneously provides their service and maintenance. Qumak cooperates with the best suppliers of hardware and software. When performing complex interdisciplinary projects, the Company cooperates with reliable subcontractors having complimentary competencies. The Company provides also services of outsourcing of employees for many leading companies operating among others in telecommunications, financial, multimedia, energy, and IT sector.

Local Office in Gdańsk

Headquarters in Warsaw

Branch in Kraków

Company’s business activity profile

Address: Aleje Jerozolimskie 134, 02-305 Warszawa

Revenue in 2014: PLN 577.5mln

Number of employees: 683

Specialist offer: 12 Competence Centers

on IT market

Ranking IDG TOP 200 in 2014 * on the basis on own estimations

Company’s market positon

Supplier of IT solutions and services for education, science and research sector

Supplier of intelligent buildings solutions

Among suppliers of integration services

Among suppliers of data centers and processing services

In terms of income from industry and construction sectors The biggest supplier of

servers

Supplier of solutions in aviation infrastructure *

Offer – business lines

Software Development

Contact Center

Business Intelligence

& Big Data

Data Center

Airport Automation

Smart City

Building Automation

Assets Management & Service Desk

Security & Business Continuity

Multimedia

IT Service

Outsourcing Services

Most promising business lines

Software Development*

Dedicated integrated IT solutions on the basis of own software and/or open source (SOA, BPM, GIS, CMS, systems for telco). Products for public administration and sectors: financial, telco

Offer based on competencies and products developed during performing advanced IT systems for public sector

Chance to achieve above average profitability, business scalability

Comprehensive solutions enhancing comfort and safety of living in a city as well as reducing costs of energy and transport: traffic engineering, monitoring and detection, dynamic information systems, managing road lighting, e-communication with citizens

Offer is developed on the basis of competencies obtained during performing Intelligent Transportation Systems

Chance to manage large market intensively funded by UE means

Smart City*

*hitherto IT Systems for public sector

*hitherto Intelligent Transportation Systems

Financial results and key

ratios after 2Q/1H 2015

2Q2015

mln

PLN

mln

PLN

Net Profit

160.3

263.9

2Q2014 2Q2015

Revenue

• Revenue increase y/y by 65% - the highest level of revenue in 2Q in the history

• Net profit 47% higher than a year before – the highest result in 2Q in the history

• Net profitability on a similar level: 1.4% comparing to 1.6% a year before

2.5

3.7

2Q2014 2Q2015

1H2015

The best IH in the Company’s history

Revenue increase y/y by 25%

Net profit over 43% higher than a year before

Net profitability of 1.7% comparing to 1.5% a year before

mln

PLN

mln

PLN

Net profit after the half of the year

Revenue in the half of the year

296.1 370.2

1H2014 1H2015

4.4 6.3

1H2014 1H2015

Sales structure 1H2015

Sales structure in 1H 2015

Data Center 8%

Aviation Infrastructure

28%

Intelligent Transportation

System 4% BMS and Building

Technologies 18%

IT Systems for Public Sector

6%

Business Continuity and Data Security

6%

Multimedia Exhibitions

5%

Computer Systems Management and

Service 8%

Hardware and Licenses

11%

Other 6%

Dynamics of net profit

* After releasing PLN 5.4mln provision for NCS

1.7

4.4 6.3

1.3*

1H2012 1H2013 1H2014 1H2015

mln

PLN

Net profit in half of the year

Big growth dynamics of profit since implementing

the strategy 2013-2016

Change in classification of sales costs

P&L (thousands PLN) 1H2015 1H2014 1H2015 1H2014

Revenue 370 202 296 119 370 202 296 119

Own cost of sales of products and services = 317 572+ 27 658 =247 933 + 28 347 345 230 276 279

Gross profit from sales = 50 137 – 27 658 = 43 537 – 28 347 22 478 15 191

Costs of sales = 35 982 - 27 658 = 34 171 - 28 347 8 324 5 824

Before the change

After the change

1H2015 1H2014 1H2015 1H2014

13.54% 14.70% 6.07% 5.13%

Changes in presenting gross sales margin

Before the change

After the change

AIMS OF RECLASSIFICATION OF COSTS

Increase in control over the level of generated costs in particular business lines

Greater transparency and adequacy

Cash flows in 1H2015

thousands PLN 1H2015 1H2014

Cash flows from operations - 10 701 - 32 097

Cash flows from investments activities - 3 775 - 3 330

Cash flows from financial activities 8 775 1 364

Cash level at the end of quarter m

ln P

LN

Safe level of cash at the end of the periods

10

17

10

11

3Q2014 4Q2014 1Q2015 2Q2015

Financing structure

mln PLN As at 30.06.2015

Non-interest bearing financing (used)* 11.6 (11.6)

Interest-bearing financing (used) 47 (37)

Used credit line 17.5 (7.5)

Reverse factoring (used) 30 (29.5)

Total used external financing 48.6

* Subcontractor’s deposits, advance payments, credit

Large part of non-interest bearing financing Ready credit line minimizing the risk of even a

momentary loss of liquidity

Costs of sales and general administration in 1H to gross margin

15.2 22.5

38.34% 37.0%

1H2014 1H2015

G&A to gross margin

15.2 22.5

79.8%

71.4%

0

15

30

1H2014 1H2015

SG&A to gross margin

-1.34 pp Decrease in %G&A y/y -8.4 pp Decrease in %SG&A y/y

mln

PLN

mln

PLN

296.1

370.2

1.97% 2.25%

1H2014 1H2015

G&A to revenue

Costs of sales and general administration in 1H to revenue

296.1

370.2

4.10% 4.30%

1H2014 1H2015

SG&A to revenue

Increase in %G&A y/y Increase in %SG&A y/y +0.28 pp +0.2 pp

mln

PLN

mln

PLN

Orders portfolio

Backlog in the next years

427 474

501

367

0

100

200

300

400

500

600

2Q2012 2Q2013 2Q2014 2Q2015

135

mln

PLN

2015

2016

Total: PLN 502mln

* As of 21 August 2015

Structure of backlog 2015-2016

Data Center

9%

Aviation Infrastructure

21.7%

Intelligent Transportation System

8.5% BMS and Building

Technologies

25.5%

IT Systems for Public Sector

9.3%

Business Continuity and Data Security

4.4%

Multimedia Exhibitions

8.6%

Computer Systems Management and Service

5.4%

Other

7.6%

Backlog by business

lines

Growth potential of backlog

Effectiveness in acquiring orders

Effectiveness in acquiring orders

40%

mln

PLN

103

183

Value of submitted offers waiting for settlement of tender proceedings

Commercial market

129% PLN

57mln

Public market

23%

High growth potential of orders portfolio with launching tender proceedings in the new UE perspective (2014-2020)

Revenue coverage in 2H14 Value of 1st place offers

Summary and aims

Summary

2Q2015: record in quarterly results

1H2015: record in semi-annual results

25 percent of revenue growth y/y , 47 percent of net profit growth y/y

Half a billion in backlog, including PLN 367mln to be realized in 2015 only

High growth potential in orders portfolio

2015: expected double-digit revenue growth y/y and maintaining net profitability at least on the level as in 1H. Developing satisfactory net profit

Increase in sales profitability: high value of orders portfolio enables putting more stress on margin in new acquired orders

Reducing external costs of sales – creating a Purchasing Department

Increase in using non-interest bearing instruments in financing structure

Ensuring high diversification in orders portfolio – greater share of smaller orders of low level of risk allowing fast cash conversion

Developing own software products within the frames of a newly established Special Projects Division

Re-modelling of an offer of selected business lines

Enhancing security of sales and realization processes – creating an Internal Control Department

Constantly implementing a costs optimization plan – further reduction in operations costs

Next quarters aims

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