1

WE TAKE YOUR BUSINESSABOVE THE CLOUDS

CLOUD TRANSFORMATION JOURNEYBeing an european cloud leader for non-stop

business companies in the cloud transformation

era.

Midcap Partners ConferenceParis, May 14th 2019

2

This document has been prepared by Wiit S.p.A. (the “Company”) for information and discussion purposes only, it contains only summary information and, therefore, it is preliminary in nature. Furthermore it has

been drafted without claiming to be exhaustive.

This presentation (“Presentation”) is confidential and, as such, has not been prepared with a view to public disclosure and, except with the prior written consent of the Company, it cannot be used by the

recipient for any purpose nor can it be disclosed, copied, recorded, transmitted, further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose.

Therefore, the recipient undertakes vis-à-vis the Company (i) to keep secret any information of whatever nature relating to the Company and its affiliates including, without limitation, the fact that the

information has been provided (“Information”), (ii) not to disclose any Information to anyone, (iii) not to make or allow any public announcements or communications concerning the Information and (iv) to use

reasonable endeavors to ensure that Information are protected against unauthorized access.

This document is not an advertisement and in no way constitutes a proposal to execute a contract, an offer or invitation to purchase, subscribe or sell for any securities and neither it or any part of it shall form

the basis of or be relied upon in connection with any contract or commitment or investments decision whatsoever. The Company has not prepared and will not prepare any prospectus for the purpose of the

initial public offering of securities. Any decision to purchase, subscribe or sell for securities will have to be made independently of this Presentation. Therefore, nothing in this Presentation shall create any

binding obligation or liability on the Company and its affiliates and any of their advisors or representatives.

This Presentation does not constitute an offer to the public in Italy of financial products, as defined under article 1, paragraph 1, letter (t) of legislative decree no. 58 of 24 February 1998, as amended.

This Presentation is not for distribution in, nor does it constitute an offer of securities for sale in the United States of America, Canada, Australia, Japan or any jurisdiction where such distribution is unlawful, (as

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No representation or warranty, express or implied, is or will be given by the Company as to the accuracy, completeness or fairness of any information contained in these materials and, so far as is permitted by

law and except in the case of fraud by the party concerned, no responsibility or liability whatsoever is accepted for the accuracy or sufficiency thereof or for errors, omissions or misstatements, negligent or

otherwise, relating thereto. In particular, but without limitation, no representation or warranty, express or implied, is or will be given as to the achievement or reasonableness of, and no reliance may be placed

for any purpose on the accuracy or completeness of, any estimates, targets, projections or forecasts and nothing in these materials should be relied upon as a promise or representation as to the future.

The information and opinions contained in this document are provided as at the date hereof and are subject to change without notice. The recipient will be solely responsible for conducting its own

assessment of the information set out in the Presentation. Neither the Company and its affiliates, nor any of their advisors or representatives shall be obliged to furnish or to update any information or to notify or

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Certain information contained in this Presentation may contain forward-looking statements which involve risks and uncertainties and are subject to change. In some cases, these forward-looking statements

can be identified by the use of words such as “believe”, “anticipate”, “estimate”, “target”, “potential”, “expect”, “intend”, “predict”, “project”, “could”, “should”, “may”, “will”, “plan”, “aim”, “seek” and

similar expressions. The forecasts and forward-looking statements included in this document are necessarily based upon a number of assumptions and estimates that are inherently subject to significant

business, operational, economic and competitive uncertainties and contingencies as well as assumptions with respect to future business decisions that are subject to change. By their nature, forward-looking

statements involve known and unknown risks and uncertainties, because they relate to events, and depend on circumstances, that may or may not occur in the future. Furthermore, actual results may differ

materially from those contained in any forward-looking statement due to a number of significant risks and future events which are outside of the Company’s control and cannot be estimated in advance, such

as the future economic environment and the actions of competitors and others involved on the market. These forward-looking statements speak only as at the date of this Presentation. The Company

cautions you that forward looking-statements are not guarantees of future performance and that its actual financial position, business strategy, plans and objectives of management for future operations may

differ materially from those made in or suggested by the forward-looking statements contained in this Presentation. In addition, even if the Company’s financial position, business strategy, plans and objectives

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By accepting this Presentation, you acknowledge and agree to be bound by the foregoing terms, conditions, limitations and restrictions.

Disclaimer

3

Market AnalysisWorld Wide

MARKET ANALYSISWorldwide Cloud Trends

4

1. Autonomous Things

2. Augmented analytics

3. AI-driven development

4. Digital Twins

5. Empowered edge (Cloud)

6. Immersive Technology

7. Blockchain

8. Smart spaces

9. Digital ethics & privacy

10. Quantum computing

Strategic

Technology

Trends2019

4

5

1. Autonomous Things

2. Augmented analytics

3. AI-driven development

4. Digital Twins

5. Empowered edge (Cloud)

6. Immersive Technology

7. Blockchain

8. Smart spaces

9. Digital ethics & privacy

10. Quantum computing

Strategic

Technology

Trends2019

How many of them are Cloud based?

5

6

Source: Il Digitale in Italia – 2018 Mercati, Dinamiche, Policy". “Osservatorio CloudTransformation - Cloud Transformation: evolvere con le nuvole verso l’organizzazione agile

IOT

MOBILE

BUSINESS

SECURITY

WEARABLE

TECHNOLOGY

CLOUD

BIG DATA

AI

BLOCKCHAIN

0%

10%

20%

30%

40%

50%

60%

70%

80%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

% G

row

ing

2020E/2

017

% Growing 2017/2016

DIGITAL TRENDS

Cloud, IoT and Mobile

Business are leading the

growth but still are a green

field.

All the digital trends will

include, as a foundation,

Cloud based technology,

applications and DevOps.

Global trends of Digital Enabler

7

Worldwide Cloud Growth 2016-2020

6,24%

10,84%13,38%14,38%15,65%

18,24%

23,31%

0%

5%

10%

15%

20%

25%

Cloud Business

Process Services

(BPaaS)

Cloud

Advertising

Totale MarketCloud

Management &

Security Services

Cloud

Application

Services (SaaS)

Cloud

Application

Infrastructure

Services (PaaS)

Cloud System

Infrastructure

Services (IaaS)

CAGR by Cloud Service Category, 2016-2020

Worldwide Public Cloud Services Revenue Forecast (B$)

Source: Gartner (Oct 2017)

Revenue TrendsIaaS + PaaS represents the highest volume in

Cloud revenue

(excluding Cloud Advertising that is not an IT

service)

Growth TrendsIaaS and PaaS growth will continue with

the highest CAGR rate in the Cloud Arena

5652484441

15131197

7665

5546

39

72

58

4635

25

151

134

119

105

90

$0

$50

$100

$150

$200

$250

$300

$350

$400

20202019201820172016

Cloud Advertising

Cloud System

Infrastructure Services

(IaaS)

Cloud Management &

Security Services

Cloud Application

Services (SaaS)

Cloud Application

Infrastructure Services

(PaaS)

Cloud Business Process

Services (BPaaS)

Source: Gartner (Feb 2017)

Worldwide Cloud Revenues (B$)

8

Italy Cloud Computing trends

29,80%

24,00%

10,90%11,80%

0%

5%

10%

15%

20%

25%

30%

35%

Public CloudHybrid CloudVirtual Private CloudPrivate Cloud

CAGR by Cloud Service Category, 2016-2020

Italian Cloud Computing

Source: Netconsulting Cube (2018)

1.042799

624484367

665

608549

491440

1.660

1.377

1.108

887

703

485

439

394

353

310

0 €

500 €

1.000 €

1.500 €

2.000 €

2.500 €

3.000 €

3.500 €

4.000 €

20202019201820172016

Private Cloud

Hybrid Cloud

Virtual Private Cloud

Public Cloud

Revenue TrendsHybrid + Virtual Private represent the

highest volumes in Cloud revenues

Growth TrendsHybrid as a multi-cloud enabler will lead the

growth of both Private and Public cloud

Source: Netconsulting Cube 2018

Italy Cloud Revenues (M€)

9

Gartner predicts

Death of Data Centers

Gartner predicts that by 2025, 80% of enterprises will shut down their traditional data centers. In fact, 10% of organizations already have. This data point does not necessarily mean everything is going to the cloud, but IT leaders do need to start thinking about where current and future workloads will live based on business reasons (e.g., customer engagement, GDPR regulations), not technology reasons.

Source: Top 10 Trends Impacting Infrastructure & Operations for 2019

Analysts says

In 3 Years

Percent of

companies

forecasting

using multiple

hybrid clouds

within three

years

IBM Institute forecast

Source: Survey of 1106 executives across 19 industries and 20 countries. Published on IBM Assembling your cloud orchestra, October 2018

98%

Analysts say

10

1. No more CAPEX in no core investments

2. Top 3 business continuity fault causes are:

#1 Datacenter technology level

#2 Cyber security

#3 Human Error

3. Scalability and flexibility

4. Competences

Being global and digital is

imperative.

Being global means global

process governance.

Governance and digital mean

tech performance, data

security and process reliability.

Why companies move to Cloud

11

Italian Cloud between past and future

624484367

549491

440

1.108

887

703

394

353

310

21,5% 21,7%20,8%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0 €

500 €

1.000 €

1.500 €

2.000 €

2.500 €

3.000 €

3.500 €

4.000 €

4.500 €

201820172016

Public Cloud Virtual Private Cloud Hybrid Cloud

Private Cloud Growth rate%

PastTrend has been consistent over yearsand companies are still at their youth in cloud adoption.

FutureCloud growth will stay strong due to the boost of new digital areas (i.e. Analytics, Iot, AI etc.) and due to the adoption of Cloud for Business Critical apps.

Source: Netconsulting Cube 2018

1.042799

624

665

608

549

1.660

1.377

1.108

485

439

394

20,8%20,5% 19,5%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0 €

500 €

1.000 €

1.500 €

2.000 €

2.500 €

3.000 €

3.500 €

4.000 €

4.500 €

202020192018

Public Cloud Virtual Private Cloud Hybrid Cloud

Private Cloud Growth rate%

Source: Netconsulting Cube 2018

11

12

WIIT AT A GLANCE

13

MilanCastelfranco

Veneto

Rome

italian

branchesFlorence

702

5

connected

countries

global

branches

2enterprise

datacenter

70%

Top clients

with DR/BC

90%

Top clients

run ERP suites

80%

Top clients

run SAP

70Top

clients

2,5Bannual

transactions

+200Mid

clients

We support our clients on a global levelGeographical coverage of clients connected to our datacenters

14

SERVICESPUBLICCloud

CLOUDTYPE

System Integrator

PaaS

IaaS

System management

Network & connectivity

Server, storage & backup

Data Center

Database Management

SAP system management & other APP

SOC & Cyber SecurityAn integrated

value chain

to guarantee

critical SLAs

DatacenterProvider

WIIT

Wiit Market Positioning

SAP Application Support

Help Desk

15

• Wiit deploys two dedicated Enterprise Class Data-Centers in Italy

• Milan: Primary Data Center, certified TIER 4 Constructed Facility,

where the most complex and critical ERP infrastructures are

hosted and managed

• Castelfranco Veneto (TV): the data center that enables

Business Continuity services for Milan Tier IV DC

• The level of use of the 2 Data-Centers is only 35% of total capacity

(*) Source: Uptime Institute Website – Tier Certification of Constructed Facility – March 2018

TIERDatacenter

Class

Site

infrastructure

Definition

Components

IT capacity

to support

load

Distribution

Path

Maintenanc

e w/o

service

downtime

Fault tolerant

= w/o manual

intervention

Compart

mentation = all

components

are separated

and duplicated

Continuous

Cooling

Availability

year

average

4Enterprise

Corporations

Fault tolerant2N+1

Fully

Redundant

Double

Active-

Active

99,995%

3Large Business

Concurrently

maintainable

N+1

Fault

Tolerant

One Active

One

Standby

99,982%

2Medium Size

Business

Redundant N+1 single 99,75%

1Small Business

Basic N single 99,67%

15

Wiit Strategic AssetTier IV datacenter for business critical applications

16

Needs: multiple users, less confidential information, local data compliance, geographical localization

Non Critical Applications

Needs: high and guaranteed service levels, business continuity, information security, personalization, integration, scalability, flexibility

Critical Applications (SAP-ERP, CRM, EPM, etc.) core platforms and infrastructures

Customer Private Cloud

Hosted Private Cloud Public Cloud

Managed Services

Business Continuity

Wiit Delivery Platform

Business

App

Non Critical

-

+Critical

The new trend for Critical Corporate Apps

17

7 REASONS TO INVEST

18

Pure Cloud playerone of the few Italian companies exclusively specialized in key services for clients’

business continuity in the Private and Hybrid Cloud

• Oracle Gold Partner

• Official Microsoft Partner

• SAP Partner

(*) Source: Uptime Institute Website – Tier Certification of Constructed Facility – May 2019

ISO 27001

ISO 20000

ISO 22301

ISAE 3402

Information Security

Process Compliance

Business Continuity

Audit & Governance

Data center with the TIER IV Certification, the highest world

class attainable in reliability and securityIn Italy there are only 7 Tier IV data centers, while in the world merely 52*

Top certifications for Process, Security, Continuity and Governance

Partner of SAP – Wiit is one of the most certified SAP partner in

the world in Outsourcing servicesWiit has 5 (out of 6) SAP certifications in Outsourcing and Cloud Operations

1 A leading pure Player in critical Cloud Services for Enterprises…

Full direct control of the entire stack of servicesAsset, Skills and Process completely owned and controlled by Wiit

19

• Cloud computing is one of the most solid and growing fast IT segment: +21% of 2016-18 CAGR in Italy (*)

• Hybrid & Multicloud, Intelligent Cloud, PaaS & Cloud Native Architecture and Cybersecurity are the top 4 out of 6 higher potential ICT investments according to Osservatori.Net – Osservatorio Cloud Transformation 2018

CLOUD MARKET IN ITALY

(*) Source: Assintel Report on NEXTVALUE 1000 CIOs and IT Managers surveys ("Ricerca sulladomanda IT in Italia", 2018)

2 …a 20+% growing Market

KEY CLOUD TRENDS IN ITALY

Source: Osservatori.net - Osservatorio Cloud Transformation Ott, 2018

25%

42%

50%

75%

75%

83%

Agile & Automation

IoT & Edge Computing

Cybersecurity & C.Intell.

PaaS & Cloud Native Arch.

Intelligent Cloud

Hybrid & Multicloud

0% 10% 20% 30% 40% 50% 60% 70% 80% 90%

1.042799624

665608

549

1.660

1.377

1.108

485

439

394

20,8% 20,5% 19,5%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%

0 €

500 €

1.000 €

1.500 €

2.000 €

2.500 €

3.000 €

3.500 €

4.000 €

4.500 €

202020192018

Private Cloud

Hybrid Cloud

Virtual Private

Cloud

Public Cloud

Growth rate%

20

• Top standing large and medium enterprises with high credit worthiness

and high IT budget spending

• Many multinational groups, well diversified by economic sector, supported

by Wiit at a global level

• Very high retention rate (high client satisfaction)

• More than 70 clients* WIIT, with a stable growth over the last years

• More than 200 clients Adelante

• Direct sales force

• Increasing avg. revenues per client thanks to:

• Bigger new clients

• Increasing share of clients’ needs satisfied by Wiit

• Cross-selling of further services to existing clients

3 High standing Client Base…

(*) Core clients: clients generating more than 100k€ / year and relating to core business (cloud, SAP) and extended core (user support and document management)- excluding una tantum projects and non core activity (NDP, Hyperion)(**) Source Clients Financial Report 2018 and Management account – data not audited

Fig. 1

CLIENTS GLOBAL DISTRIBUTION70 connected countries

The first 10 Top Clients have

76% overseas turnover (**)

Fashion

34%

Oil & Gas

13%

Industrial Machinery

11%

Process

Manufacturing

11%

Discrete

Manufacturing

8%

Professional Services

7%

Aerospace &

Defence

6%

Public

5%

Retail

5%

Fig.2

TOP 10’s CLIENT REVENUE BY

SECTOR(Informative Prospect 2018)

21

• Multiannual contracts grants a high predictability of the business

• 48.7 €mn* of Backlog as at 1st January 2019, equal to 1.9 times 2018A sales

• Multiannual maturity: 4-5 years standard

• High penalties for the client in case of early termination:usually ~60-70% of residual contract value from the 2nd-3rd year on

• Quarterly or monthly invoicing

• Wiit has the right to interrupt services if the client does not

pay

TYPICAL WIIT’S CONTRACT SCHEME BACKLOG AS AT 1st JAN 2019 (€mn)

…granting a high Visibility of Business

(*) data audited in January 2019

25,2

48,7

0,0

10,0

20,0

30,0

40,0

50,0

60,0

SALES 2018 BACKLOG

1.9 x

4

21

22

5 A committed Management Team…

Alessandro CozziCEO

Class 1972

• Founder and majority

shareholder of Wiit - President

and Chief Executive Officer

since its inception

• Expert in business

administration, finance and

controlling, directly pilots the

administration and financial

activity, strategic alliances and

M&A activity

Riccardo MazzantiCHAIRMAN & COO

Class 1970

Experience:

• 1994 – Consultant at Infogroup

• 1997 – Manager of the data center

and opening of new Metro Cash &

Carry shopping centres

• 1999 – CIO of The Medusa Film Group

(Fininvest Group)

• 2005 – CRM Director for the startup of

DTTV in Mediaset

• 2008 – Chief Operating Officer of Wiit

Enrico RampinCHIEF SALES & MKTG OFFICER

Class 1968

Experience:

• 1998 – Sales Executive

North-east and central

region for a Systems

Integrator company

• 2002 – Sales Leader in CPG

market for Oracle

• 2009 – Chief Sales &

Marketing Officer of Wiit

Francesco BaroncelliCHIEF M&A

Class 1971

Experience:

• Founder of Adelante Group

– director of Adelante with

20 years of experience in

the Information Technology.

• 2018 – Chief Merger &

Acquisitions & Head of New

Markets of Wiit

• Experienced management team which led the development of Wiit since its foundation

• Commitment enhanced by a direct stake in the Company

• Bonus mechanism based on EBITDA increase

• Long term incentive plan – As STAR segment requirement

22

23

12,715,5

19,6

25,2

0,0

5,0

10,0

15,0

20,0

25,0

30,0

2015A 2016A 2017A 2018A

• Continued revenues growth in the last years, riding the Cloud market trend to expand the client base and the services offered

• Big potential for a margin expansion thanks to a scalable platform with fixed costs mainly:

• Personnel

• Connectivity costs

• Rent

EBITDA Adj.* (M€) and MARGIN %SALES (€mn)

* EBITDA adjusted excluding the Figurative cost of Performance Shares and IPO costs

6 …leading Wiit to achieve a Sharp Growth…

3,84,7

8,5

10,4

0,0

2,0

4,0

6,0

8,0

10,0

12,0

2015A 2016A 2017A 2018A

41,3%

25,2%

30,6%

43,3%

24

GROSS CASH FLOW HISTORY (M€)

Wiit boasts a big cash generation potential:

• Facilities now used at 40% of their capacity

• Limited maintenance capex for technological

update and for continued R&D (approx. €1.0mn

per year on average in 2014-2018)

• Development capex mainly for new clients (set-up

costs to be sustained in the first contract year)

• Modest NWC needs2,2

2,93,8

7,0

8,9

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

8,0

9,0

10,0

2014A 2015A 2016A 2017A 2018A

24

7 …with high Cash Flow Growth + 46%

25

FINANCIALS

26

Free Float

35,1%

Own Shares

2,4%

Orizzonte SGR

0,9%

Wiit Fin Srl

61,5%No. Shares 2.652.066

Shareholding Structure at March 2019

26

Shareholders

27

IPO MTA STAR SEGMENT

April, 2nd 2019

We expect an improvement of stock

liquidity and expansion to potential

international investors and

technology focused funds

45 €IPO price

48 €Average price

from IPO*

2.081Daily average

liquidity*

Share Information

* Share Information updated on April 2nd 2019

28

KEY FINANCIALS (€mn)

Consolidated Consolidated

15,3

19,6

25,2

4,7

8,510,4

1,84,2 4,9

30,6%

43,3%

41,3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0

5

10

15

20

25

30

35

2016 2017 2018

Revenues Ebitda adj Ebit Ebitda adj %

CAGR2016-2018

+28% Revenue

+49% EBITDA Adj.

+64% EBIT

+28% Wiit

+21% Cloud Market

Revenue

CAGR2016-2018

REVENUE GROWTH COMPARISON

Scale up

the best industry

key financial

indicators

21,5% 21,7% 20,8%19,9%

27,5%29,0%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

2016 2017 2018

Wiit

Cloud

Source: Netconsulting Cube 2018

Leading the best market Financial indicators

29

WIIT Group operates with multiannual contracts that grants a high predictability of the business

48.7 €mn* of Backlog

as at 1st January 2019,

equal to 1.9 times 2018A sales

• Multiannual maturity: 3-5 years standard

• High penalties for the client in case of early termination: usually ~50-70% of

residual contract value from the 2nd-3rd year on

• Quarterly or monthly invoicing

• WIIT has the right to interrupt services if the client does not pay

TYPICAL WIIT’S CONTRACT SCHEME

25,2

48,7

0,0

10,0

20,0

30,0

40,0

50,0

60,0

SALES 2018 BACKLOG

1.9 x

BACKLOG AS AT 1st JAN 2019 (€mn)

(*) data audited in January 2019

Key financials - Backlog

30

• Continued revenues growth in the last years, riding the Cloud market trend to expand the client base and the services offered

• Big potential for a margin expansion thanks to a scalable platform with fixed costs mainly:

• Personnel

• Connectivity costs

• Rent

EBITDA Adj.* (M€) and MARGIN %SALES (€mn)

* EBITDA adjusted excluding the Figurative cost of Performance Shares and IPO costs

12,715,5

19,6

25,2

5,27,5

0,0

5,0

10,0

15,0

20,0

25,0

30,0

2015A 2016A 2017A 2018A 2018-Q1 2019-Q1

3,84,7

8,5

10,4

2,22,9

0,0

2,0

4,0

6,0

8,0

10,0

12,0

2015A 2016A 2017A 2018A 2018-Q1 2019-Q1

41,3%

25,2%

30,6%

43,3%

…Q1-2019 continue to achieve a Sharp Growth…

41,8%38,2%

31

• Fixed assets mainly include the two Wiit’s

datacenters (today used at approx. 40% of

their capacity) – amortization in 5 years

• Goodwill refers to the merger of Sevenlab S.r.l.

into Wiit in 2014 and acquisition of a division of

Visiant Technologies in 2015, Adelante Group

and Foster in 2018

• Intangible Assets Q1-2019: 2 millions IFRS16

• Other payables in current liabilities Q1-2019: 2,3

millions Debt for dividend distribution

Balance Sheet: Q1-2019 ResultsLow NWC and indebtedness

IFRS Form (€ 000) 2016 2017 2018 2018-Q1 2019-Q1

Intangible Assets 917 1.402 4.050 2.971 6.676

Intangible Assets - Goodwill 1.315 1.315 9.736 1.315 9.736

Property plant and equipment 8.920 12.912 13.823 14.947 14.163

Other Tangible Assets 0 0 0 0 0

Investments in associates 464 458 68 458 68

Total non-current assets 11.616 16.087 27.677 19.691 30.643

Inventories 12 0 0 0 0

Trade and other receivables 4.023 3.292 4.699 5.125 4.279

Intercompany receivables 875 1.122 461 1.326 213

Advance Tax 300 377 685 377 662

Other liquid assets 475 395 1.734 836 2.785

Total current assets 5.685 5.186 7.580 7.664 7.940

Tax current liabilities 292 366 669 454 391

Trade and other payables 1.729 2.058 3.802 3.957 5.669

Payables vs related companies 0 0 0 0 36

Other payables and current liabilities 708 807 2.056 911 4.542

Total current liabilities 2.729 3.231 6.528 5.322 10.638

Net Working Capital 2.956 1.955 1.053 2.342 (2.698)

Other payables and non-current liabilities 320 220 1.340 475 1.217

Employee benefits liabilities 817 918 1.259 944 1.304

Provisions for deferred tax liabilities 29 29 214 29 214

Total non-current liabilities 1.166 1.167 2.813 1.447 2.736

NET INVESTED CAPITAL 13.406 16.875 25.917 20.586 25.209

Equity 4.512 24.755 22.243 24.629 21.521

Net Financial Debt (Cash) 8.895 (7.880) 4.383 4.043 4.495

Net Financial Debt (Cash) Excluding impact of

IFRS16 3,299 1.397

Cash and cash equivalents at year-end 3.610 21.514 17.930 19.974 18.885

32

Net Financial Debt (Cash) (M€)

* EBITDA adjusted excluding the Figurative cost of Performance Shares, IPO costs, cost relating M&A

• Big potential for a margin expansion thanks to a

scalable platform with fixed costs mainly

• Performance shares plan generates a figurative cost

ex IAS principles (tax deductible)

• IPO cost: cost related to listing process

• M&A cost: cost related to due diligence for Merger

and Acquisition

• Tax benefits active from year 2016 on:

• “Super-ammortamento”: 140% overvaluation of the

2017 investments in new assets purchased or leased.

Opportunity to benefit of subsidy for investments in

intangible capital goods (software and IT systems)

Income Statement: Q1-2019 Results

IFRS Form (€ 000) 2016 2017 2018 2018-Q1 2019-Q1

NET SALES 15.341 19.556 25.237 5.188 7.474

Cost of products and service sold (excl. IPO costs) 7.586 7.255 10.121 1.878 3.278

Cost of employees (excl.Figurative cost

Perf.Shares) 2.616 3.606 4.395 1.066 1.245

Other cost and charges 400 217 309 74 94

Variation of inventory 38 12 0 0 0

Total costs 10.640 11.089 14.826 3.018 4.616

EBITDA Adjusted 4.701 8.467 10.412 2.169 2.857

30,6% 43,3% 41,3% 41,8% 38,2%

Amortisation, depreciation 2.300 3.433 5.108 1.185 1.376

Figurative cost of Performance Share 2016-2018 585 394 283 71 0

IPO Costs 455 142 0 793

OPERATING PROFIT 1.817 4.186 4.878 913 689

OPERATING PROFIT Adjusted 2.401 5.034 5.303 984 1.482

15,7% 25,7% 21,0% 19,0% 19,8%

Depreciation of investments in associates 0 (6) 0 0 0

Financial income 19 42 7 1 129

Financial costs (466) (452) (508) (44) (56)

Exchange rate differences (18) 92 (90) 3 0

RESULT BEFORE TAXES 1.352 3.862 4.287 873 761

Income taxes 441 725 791 184 (848)

NET RESULT 911 3.137 3.496 689 1.610

8,4 8,9

(7,9)

4,4 4,4

-10,0

-8,0

-6,0

-4,0

-2,0

0,0

2,0

4,0

6,0

8,0

10,0

2015A 2016A 2017A 2018A 2019-Q1

33

EBITDA Adj.* (M€) and MARGIN %SALES (M€)

(E) Average of Analysts Consensus for the year ending December 31, 2019 (source: Banca IMI, Intermonte SIM and Midcap LCM, October 2018)

15,519,6

25,2

30,534,9

0,0

5,0

10,0

15,0

20,0

25,0

30,0

35,0

40,0

2016A 2017A 2018A 2019E 2020E

4,7

8,510,4

13,5

15,8

0,0

2,0

4,0

6,0

8,0

10,0

12,0

14,0

16,0

18,0

2016A 2017A 2018A 2019E 2020E

42%

30,6%

43,3%

Group Annual Economic Results 2016-2020E (Y19 Estimate by Analysts Consensus)

2,4

4,24,9

7,59,0

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

8,0

9,0

10,0

2016A 2017A 2018A 2019E 2019E

EBIT (M€) and MARGIN %

0,9

3,1 3,5

5,66,5

0,0

1,0

2,0

3,0

4,0

5,0

6,0

7,0

2016A 2017A 2018A 2019E 2020E

NET PROFIT (M€) and MARGIN %

CAGR

FY16 - FY18 +28%

11,6%

21,4%%

19,3%

5,9%

16%13,9%

CAGR

FY16 - FY18 +49%

CAGR

FY16 - FY18 +64%

CAGR

FY16 - FY18 +96%

34

External Growth

1. Acquisitions in Italy to increase Wiit’smarket share and gain synergies (example: data centres)

M&A STRATEGY

Italy

1. Strategic acquisitions to enter more effectively in foreignmarkets leveraging on:

• a local established brand

• a native salesforce with relationships with local clients, knowledge of local market and datacenter in the country

2. Cost savings mainly achievable thanks to the centralization ofoperations in Italy. Two examples:

Europe (FR, DE)

Cloud players with a business modelcomparable to Wiit and multiannualcontracts schemes

lower (same business model)

cost synergies

IT players which can be consideredpart of the current Wiit Value Chain(for instance Datacenter, CloudIaaS), have a client base suitable toan up-selling strategy and possiblymultiannual contracts

mediumcost synergies + revenue synergies

(up-selling)

Profile Integration risksSynergies

Focus on Acquisition Strategy

34

35

WE TAKE YOUR BUSINESSABOVE THE CLOUDS

wiit.cloud

Enrico Rampin

Chief Sales & Marketing Officer

enrico.rampin@wiit.cloud