#1INVESTORS PRESENTATION izertis NO - v 9.04 April 2024 SALIDA#2izertis Disclaimer This document may contain future statements and information (hereinafter "Statements") related to IZERTIS, S.A. (hereinafter "IZERTIS", or "the "Company"). These events may include financial projections and estimates with assumptions, statements related to plans, objectives, and expectations that may relate to various subjects, including the customer base and its evolution, the growth of the different business lines, the market share, the results of the company and other aspects related to the activity and situation of the company. The expressions of the future or forecasts contained in this document may, in certain cases, be identified by the use of words such as "expectations", "anticipation", "purpose", "belief" or similar language, or their corresponding negative form, or by the very nature of the prediction that concerns strategies or plans or intentions. These expressions of future or forecasts reflect the opinions of IZERTIS regarding future events, do not, by their very nature, constitute guarantees of future compliance, being conditioned by risks and uncertainties that could determine that the final developments and results differ materially from those reflected in these intentions, expectations or forecasts. Among such risks and uncertainties are those identified in the documents with the most complete information recorded by IZERTIS to different supervisory authorities of the securities markets in which its stock is listed, and in particular, to BME Growth. Except to the extent required by applicable law, IZERTIS assumes no obligation to publicly update the outcome of any review that it may undertake of these statements in order to adapt them to subsequent facts or circumstances of this document, including, but not limited to, changes in the Company's business, in its business development strategy, or any circumstances that may arise. This document may contain summary, non-GAAP or non-audited financial information. The information contained therein must be read together and is subject to all available public information about the Company, including, where applicable, other documents issued by the Company containing more complete information. Finally, it should be noted that neither this document nor anything contained herein constitutes an offer to buy, sell or exchange, or a request for an offer to buy, sell or exchange securities, or a recommendation or advice on any value. 2 izertis#3izertis Izertis at a Glance We are a Technology Consulting firm that helps organizations in their Digital Metamorphosis process. Our differentiation is based on our Offering of services and cutting-edge technologies, and on our modern, agile, innovative and flexible Culture. +120 M€ Total Revenues (2023) 27 Years of History +1,800 Professionals Listed on BME Growth izertis YOUR FUTURE, OUR CHALLENGE.#4izertis Our History 48.5 M€ TOTAL REVENUES 4.6 M€ NORMALIZED EBITDA FOUNDATION of the company in Gijón, Spain. LATAM EXPANSION Mexico, Colombia and Peru. IZERTIS JOINS BME GROWTH 68.0 M€ TOTAL REVENUES +1,000 EMPLOYEES Financial Times ranks Izertis among 1000 fastest-growing companies in Europe. 121.3 M€ TOTAL REVENUES 18.6 M€ NORMALIZED EBITDA +1,800 EMPLOYEES 1996 2010 2014 2018 2019 2020 2021 2022 2023 2027 5.2 M€ TOTAL REVENUES First growth plan. 38.4 M€ TOTAL REVENUES Entry in Portugal. INITIAL DEVELOPMENT FIRST GROWTH PLAN izertis 52.9 M€ TOTAL REVENUES "Company of the year" prize awarded by the European Commission. 92.2 M€ TOTAL REVENUES 12.1 M€ NORMALIZED EBITDA +1,600 EMPLOYEES Strategic Plan 2027 250 M€ TOTAL REVENUES 33 M€ TOTAL REVENUES Approved by the Board of Directors on March 31, 2023 STRATEGIC PLAN 2020-2023 2027 PLAN 4#5izertis Global Presence 2.7% HOLLAND FRANCE 2.4% 0.7% SWITZERLAND PORTUGAL 3.6% USA 2.1% 82.0% SPAIN MEXICO 3.6% 1.4% OTROS PERU 0.8% CHILE 0.7% Proyectos en +35 countries Datos de ingresos ordinarios correspondientes a 2023#6izertis What We Do izertis Software Engineering Solutions to accelerate the transition to high- value digital • business for the user: IADev Agile Development DevSecOps • Mobile • • Digital Plattforms ° ECM & BMP Enterprise & IT Governance Consulting services for streamlining corporate processes: • • • IT Governance Organization and processes Portfolio, program and project management Change Management PPM/ESM/ITSM solutions Cloud & Infrastructure Consulting focused on cloud-based technological infrastructures: • ⚫ Delegated infrastructure management Hybrid Cloud Cloud DevOps IT Modernization Managed Services • Productivity Business Solutions Commercialization and implementation of end-to-end solutions to increase efficiency, reduce costs, and create hyper- connected • businesses that link e people, data and processes. • ERP • CRM Cx Transformation End-to-end digital project development services for the conceptualization of strategies and execution of digital assets: Digital Strategy Customer Experience Enterprise IT Security Cybersecurity solutions through a 360° security application model: • • Secure Architectures Cyber assessment Audits Pentesting Network Team Incident support ° UX/UI • Brand & Creativity SOC • Data Analytics Dx Strategy & Tech Innovation Customized intelligence services and solutions to facilitate strategic decision making: • • Strategic consulting Artificial Intelligence Data Blockchain • PLN • Phygital Quality Assurance 38.5% 19.2% • Communications 12.5% Business Intelligence 8.8% Percentages according to income in 2023 8.8% 7.3% 4.9% 7#7izertis Microsoft aws Hyland opentext™ ATLASSIAN Technological Alliances Google salesforce ww Liferay STRATIO DELLEMC veeam infor CROWDSTRIKE IQVIA Veeva ANJANA citrix. RANCHER Barracuda. FORTINET. BY SUSE SAP HEXAGON paloalto® vmware® H3C NETWORKS solarwinds 8 izertis#8izertis BANKING, FINANCE & FINTECH References BANKING, FINANCE & FINTECH MEDIA * BBVA renta4 ** 00 Santander Santander Seguros CaixaBank Unicaja MAPFRE *verti PRISA rtve TeleMadrid VidaCaixa ATRESMEDIA Wi Zink RSI santalucía Tu banco senzillo cajamar CAJA RURAL orange bank helvetia OCASO AYA SECUROS Iberpay cetelem VOLKSWAGEN FINANCIAL SERVICES RETAIL, LOGISTICS & DISTRIBUTION ANDBANK Bank Singular Catalana Occidente Seguros MUTUALIDAD ABOGACÍA ENERGY & UTILITIES TELCO S CONSORCIO DE COMPENSACION DE SEGUROS. caser GRUPO MAS Telefonica MOVIL orange TOURISM, TRAVEL & LEISURE M W INDITEX IKEA DAIMLER CHRYSLER acciona anav edp & æ BRITISH AIRWAYS TotalEnergies IBERIA AirEuropa bimba & lola N TOURLINE EXPRESS Logista astara Uvesco endesa enaqas RED ELECTRICA novaltia DE ESPAÑA vueling H 10 REPSOL EROSKI Dia Canal de Isabel II GROUP GRANSOLAR ELEIA Barceló HOTEL GROUP HOTELS LOPESAN HOTEL GROUP MELIÃ izertis 9#9izertis INDUSTRY ferrovial cobra ArcelorMittal ELIX POLYMERS References PHARMA الحمى SAINT-GOBAIN Gonvarri Industries abbvie Abbott almirall MECALUX gasN2 ULMA aludium® Boehringer Ingelheim FFRESENIUS BELLOTA premium aluminiun U NOVARTIS GILEAD teva elecnor O GRUPO NUEVA PESCANOVA CAPSA FOOD Estrella Galicia MSD HIPRA ROVI TUBACEX Nestle GROUP SERVICES, CONSTRUCTION & REAL ESTATE PUBLIC ADMINISTRATION Casa SECURITAS AENOR Direct del Libro sacyr COVISIAN OHLA Illineco Progress Enablers IDAE fotocasa serveo ་ Dräger sm SEK ENAIRE= FIIAPP COOPERACION ESPANOLA Junta de Castilla y León GOBIERNO DEL PRINCIPADO DE ASTURIAS T ☐☐☐ Isdefe HEALTH SERVIZO GALEGO de SAÚDE red.es Tragsa MUSEO NACIONAL CENTRO DE ARTE REINA SOFIA Tesoro Público T Tribunal Constitucional INDUSTRIA, COMERCIO Y TURISMO Parc Taulí Hospital Universitari gε GE Healthcare ◄ Metro▸ CO-cert MINISTERIO DE DEFENSA MINISTERIO DEL INTERIOR Gobierno de Canarias AEMet Agencia Estatal de Meteorologial am agencia española de medicamentos y productos sanitarios madriddigital Amtegn izertis 10 10#10izertis Why, What, How WHY IZERTIS? Differenciation Knowledge + Culture We bring together the best technological talent to build the most innovative solutions. Around a different, modern, agile, flexible, demanding and transparent corporate culture. WHAT DO WE WANT TO DO? Targets To be a company that is admired and recognised by society. To generate sustainable, long- term value for customers, employees, shareholders and society as a whole. To help with our work the world progress and be better every day. HOW ARE WE GOING TO DO IT? Strategy ⚫ A great global brand . Differential culture • Human talent • Technological edge Strong growth izertis#11izertis Socially responsible management is a fundamental pillar of Izertis' strategy. For Izertis, environmental, social and governance factors are key elements on which the company's activity revolves, as they contribute to the creation of sustainable value for both its shareholders and other stakeholders. Enviromental In all our activities we take into account the impact that the resources we use may have on the environment, and we are constantly looking for ways to reduce their consumption. Social We seek to benefit the communities in which we work, generating wealth and employment and collaborating with society to improve it. ESG Commitment 血 Governance We have a structure and governing bodies guided by values and ethical principles, which guarantee transparency and best practices in management.#12izertis Talent 1,859 employees 03/31/2024 SPAIN 60% 12% 8% 3% 3% 2% 4% 92 % о ○ 。 Jo 0 。 о о INTERNATIONAL Madrid 4% Asturias Catalonia 1 % 2% Basque Country 1% Valencia Galicia Other 8% o o 50 0 。 Portugal USA Mexico Colombia#13izertis Business Diversification SALES BY TARGET SECTOR Business Solutions Public & Health 31.4% 34.6% Industry & Services SALES BY LINE OF ACTIVITY Cloud & 8.8% 12.5% Infrastructure Software Engineering 19.2% Enterprise & IT Governance 38.5% 7.3% Telco, Energy, Utilities, Media & TI 12.1% 21.9% Banking, Insurance & Financial Services Enterprise IT Security DX Strategy & 8.8% Cx Transformation Tech Innovation 4.9% TOP-50 55.4% SALES CONCENTRATION TOP-20 data corresponding to 2023 TOP-10 38.6% 26.2% izertis 14 14#14izertis Revenues and EBITDA Composition ORGANIC VS INORGANIC 13.1% 30.5% 86,9% NEW VS RECURRING CUSTOMERS 15.5% 84.5% 69,5% Total Revenues Normalized EBITDA ■Organic Inorganic data corresponding to 2023 Total Revenues Recurring ■New izertis 15#15izertis List of 38 companies acquired by Izertis CHIPBIP Asturias EASO Basque Country ZESTO Asturias ALSYS Catalonia DESINOR DATA Basque Country BC SISTEMAS Catalonia OSITEL DAXPRO México ACORDIANT Portugal SPARKLEGEND Portugal Canarias SLA CONSULTING Madrid SOLID GEAR Valladolid DUONET Asturias OKODE Valencia SIDERTIA Madrid WEALIZE Cordoba WHATABOUT Catalonia TICMIND Madrid PHARMA ADVISORS Madrid PMO PARTNERS Madrid QUERES Galicia AURA Madrid 1998 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 DHARMA CLEVEN INGENIERIA Mexico Madrid INSIS4 Madrid COVIRTIA Madrid DILIGENT SOLUTIONS Santander ZINKTIC Madrid IG SOLUTIONS Portugal NETMARK Mexico SADCI Portugal 3ASIDE Catalonia REBIS CONSULTING Portugal GLOBE TESTING Madrid & Basque Country DATA ADVISER Madrid TECHSOCIETY Madrid AUTENTIA Madrid KEIFI Madrid izertis 16#16izertis Integrations at Izertis: Our Model Izertis has an intensive inorganic growth strategy, but at the same time, cautious in financial terms. We have an annual and medium-term budget to invest in acquisitions, which we finance with the right balance between our own resources and those of third parties. We are looking for successful companies that want to join into a more ambitious project by sharing the same business vision and corporate culture. Complementary businesses Smaller entities without financial problems Friendly operations desired Culturally compatible Suitable valuations We only enter into transactions that clearly generate value for shareholders of all parties#17izertis Board of Directors Pablo Martín Chairman & CEO in Management Committee in in Lourdes Argüelles Board Member Pablo Martín Chairman & CEO izertis in Lourdes Argüelles CFO in in in in izen Manuel R. Pasarín Board Member Diego Cabezudo Board Member Manuel R. Pasarín COO Julio López CSO in in Arturo Díaz Carlos Sartorius Board Member Board Member in Irene Sáenz Juan Carlos Ureta de Santa María Board Member Secretary to the Board in in in Segor Teclesmayer CPO Francisco Sáez CCO 18#18izertis 500% 400% 300% 200% 100% 0% Comparison with Main Stock Indexes 1.70 € 11/25/2019 x 4.94 share price 8.40 € 03/31/2024 izertis +394.1 % +92.2% Nasdaq + 68.9 % S&P 500 + 19.7% BEX55 Shareholders izertis Free Float 29.01 % Company Directors 16.48 % Treasury Stock 2.30 % Laren Capital (Pablo Martín) 52.21 % Approximate data as of March 2024 based on 26,409,667 shares outstanding (BME Growth). 19#19izertis ALANTRA Analyst Coverage Equity research analyst reports are available on Izertis's Investors Relations. GVC Gaesco JBCapital Markets renta4 COMING SOON ANALYST Juan Peña Ruiz ANALYST David López Sánchez ANALYST Eduardo Imedio Cano Latest price target: קי 11.5 € Latest price target: 11.5 € Latest price target: 10.6 € view report view report view report 20 izertis#20izertis New Sources of Funding LTM izertis marf mercado alternativo de renta fija ✓ inveready ®Sabadell Crisae Private Debt Issuance of convertible debentures for 30.0 M€ July 2021 Issuance of convertible debentures for 5.0 M€ September 2023 8.0 M€ financing July 2022 Santander Fondo Smart 10.0 M€ financing September 2021 ✓veready Issuance of convertible debentures for 4.0 M€ July 2021 BME Growth 3.8 M€ capital increase announcement July 2021 21 21#21izertis Acknowledgments I N AT BA INATBA International Association for Trusted Blockchain Applications Award for Best Innovation Project in the Public Sector with Blockchain technology awarded by INATBA JANUARY 2024 FT FINANCIAL TIMES 1000 Europe's Fastest Growing Companies 2021 & 2022 EUROPEAN SMALL& MID-CAP AWARDS Financial Times ranks Izertis among the 1000 fastest- growing companies in Europe MARCH 2022 European Commission awards Izertis as 'Company of the Year' at the European Small and Mid-Cap Awards NOVEMBER 2020 izertis 22 22#22izertis Why invest in izertis? SECTOR WITH STRONG FUTURE GROWTH The technology sector has continued to grow faster than any other sector in recent decades and will continue to do so even more strongly. The wind is in its sails. IMPRESSIVE TRACK RECORD Izertis has grown at an annualized average of over 20% for more than 25 years in a row. STRONG ATOMIZATION IN THE SECTOR And the need for concentration to build stronger companies globally. MANAGEMENT COMMITMENT TO THE COMPANY They are its main shareholders and stake their equity with that of the rest of the shareholders.#23izertis Sector Overview Software Development The creation of customized software solutions will help solve problems or meet new challenges through advanced software engineering and process automation, reducing dependence on human labor and promoting efficiency within companies. Consultoría IT & Governance The IT organization and management of companies has become a key factor with the digital transformation, therefore the development of business agility solutions is becoming increasingly important for companies. Data & Analytics The storage, management and processing of data is one of the great challenges for companies, which often do not have the knowledge and internal resources to manage data on a massive scale, and it is expected that by 2023 more than 50% of business will be generated from data. Cloud & Tech Infrastructure Investment in cloud solutions will grow, reinforcing and accelerating the transition to the cloud, from infrastructure migration to the development of cloud solutions. 90% of companies are expected to have some type of cloud solution/application by 2027. Cybersecurity CRM & Marketing Cybersecurity has become a top priority for operating in the new digital environment, and its growth will be driven by factors such as the increase in digital transformation, the greater number and sophistication of cyberattacks and the lack of specialized personnel in companies. The transition to an increasingly digitized economy makes it imperative for companies to increase their focus on digital marketing and customer experience competencies in order to attract a larger customer base. Source: Gartner, SRD, SMI, Deloitte Research 74,7 TACC: +21% 28,2 2022 2027e TACC: +10% 179,5 113,9 2022 2027e 185,1 TACC: +13% 100,0 2022 2027e 1.171,1 TACC: +19% 488,3 2022 2027e TACC: +12% 277,4 157,1 2022 2027e 36,8 TACC: +16% 17,8 2022 2027e izertis 24#24izertis INCOMES CAGR FY23-FY27e 20% 19% 18% 18% 17% 16% 14% 12% 10% 8% 6% 4% 2% Financial Data Izertis vs Peers 30% 28% 25% EBITDA CAGR FY23-FY27e 14% 13% 20% 18% 17% 15% 10% 5% 25% EBITDA Margin (FY23 vs FY27e) 20% 21% 20% 20% 15% 12% 10% 10% 5% izertis 17% 16% 15% 16% 15% 14% 13% 12% 11% 0% 0% 0% Izertis Globant Nagarro Endava Epam Izertis Endava Globant Nagarro Reply Globant Endava Epam Reply Izertis Nagarro Source: LSEG Refinitiv Workspace, Bloomberg (02/15/2024), Own Information 25#25izertis 25 20.6 20 15 10 10 5 14.6 12.0 Analyst Forecasts EV/EBITDA (FY24e vs FY25e VS FY26e) 19.7 18.6 16.3 15.8 14.1 14.3 12.6 11.9 10.9 10.7 9.8 9.5 9.1 7.8 7.8 0 Endava Globant Epam 40 35 20 10 2122525 34.5 28.2 30 23.3 0 Globant 34.0 23.1 18.4 Izertis Izertis Reply Nagarro PER (FY24e vs FY25e VS FY26e) 31.9 25.8 23.4 22.0 21.7 18.9 18.4 19.1 19.3 18.0 14.0 Endava Epam Reply n/d Nagarro izertis Source: LSEG Refinitiv Workspace, Bloomberg (02/15/2024), own information. | (1) Multiples calculated based on current EV reported by Bloomberg as of February 15, 2024 and the average of EBITDA and Net Profit estimates reported by LSEG Refinitiv Workspace. ((2) As of December 31, 2022, the Group's goodwill and customer relationships stood at €37.2 M and €33.5 M, respectively. Under IFRS-EU, goodwill is not amortized, although Izertis has amortized customer relationships in the amount of €3.0 M and activated and consequently amortized right-of-use assets in the amount of €920 K in 2022, both items representing 66% of the amortization expense for that year. Translated with DeepL.com (free version) 26#26SALIDA izertis 0 2023 RESULTS#27izertis Total Revenues Growth Well Above the Sector and GDP 130 SPANISH GDP 120 2021 +5.1 % 110 2022 +5.5 % 100 2023e +2.2 % 60 90 European Commission, 80 september 2023. 70 60 CONSULTING SECTOR 48.5 50 2021 +9.5 % 40 40 2022 +15.2 % 30 2023e +7.7 % 20 Spanish Association of Consulting Firms (AEC), July 2022 10 +9.1% 52.9 +28.6% 68.0 +35.6% +31.6% 92.2 121.3 0 2019 2020 2021 2022 2023 data in thousands of euros | 2019-2020 - according to Spanish GAAP | 2021-2023 - according to IFRS izertis 28#28izertis 20 18 16 14 12 10 8 6 4.6 4 2 +14.2% Normalized EBITDA Strong Normalized EBITDA Growth 5.3 +49.0% 7.9 +53.6% 12.1 +54.4% 18.6 0 2019 2020 2021 2022 2023 data in thousands of euros | 2019-2020 - according to Spanish GAAP | 2021-2023 - according to IFRS izertis 29#29izertis 16% Margins Significant Increase in Margins 14% 13.1% 12% 11.6% 10.0% 10% 9.5% 8% 6% 4% 2% 15.4% 0% 2019 2020 2021 2022 2023 2019-2020 according to Spanish GAAP | 2021-2023 - according to IFRS 30 izertis#30izertis 40 35 30 25 20 15 10 10 4.2 5 Improved Treasury 15.0 37.7 35.6 29.4 0 2019 2020 2021 2022 2023 data in thousands of euros | 2019-2020 - according to Spanish GAAP | 2020-2023 - according to IFRS izertis 31#31izertis Solid Capital Structure Gross financial debt Convertible Bonds 8.9 M€ 12/31/2023 78.1 M€ Short Term Long Term 37% 63% Earn-Outs 8.2 M€ Promissory Notes 7.3 M€ Equity 72.9 M€ NFD/ Normalized EBITDA 2.6 Adjusted NFD (*) / Normalized EBITDA 2.1 M&A 2.8 M€ Public Debt 2.2 M€ Banking Debt 48.7 M€ (*) NFD excluding equity payments. izertis 32#32izertis Principales Magnitudes Financieras Total Revenues 2019 2020 2021 2022 2023 23vs22 23vs19 140 120 121.3 18 Total Revenues Normalized EBITDA 48,460 52,859 67,994 92,202 121,293 31.6% 150.3% 16 92.2 100 14 80 68.0 12 4,615 5,270 7,854 12,066 18,626 54.4% 303.6% 52.9 10 60 48.5 40 Normalized EBITDA Margin 9.5% 10.0% 11.6% 13.1% 15.4% 227pb 583pb 20 0 08642086420 Normalized EBITDA 18.6 12.1 7.9 4.6 5.3 Total Assets 44,430 62,385 103,039 144,625 192,267 32.9% 332.7% 2019 2020 2021 2022 2023 Data in millions of euros 2019 2020 2021 2022 2023 Data in millions of euros Equity 15,656 23,840 33,755 48,674 72,876 49.7% 365.5% Total Financial Debt 18,525 24,918 52,116 67,137 78,140 16.4% 321.8% DFN / Normalized EBITDA PN / DFT 95.7% 5 100% 93.3% Net Financial Debt 14,364 9,929 14,387 31,532 48,753 54.6% 239.4% 4 90% 84.5% 3.1 Equity / Financial Debt 84.5% 95.7% 64.8% 72.5% 93.3% 20.8% 8.8% 2.6 2.6 3 80% 1.9 1.8 72.5% 64.8% 2 70% NFD/Norm. EBITDA 3.1 1.9 1.8 2.6 2.6 (0.5) 1 60% Norm. EBITDA / Interest 12.2 8.7 8.3 6.3 4.6 (1.7) (7.6) 0 50% 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 Data in thousands of euros 2019 2020- prepared according to Spanish GAAP 2021-2023-prepared according to IFRS EthiFinance Ratings BB+ 33 33 izertis#332027 PLAN#34izertis 2027 Plan TARGET 250 M€ Total Revenues Normalized EBITDA 300 250 33 M€ 200 CAGR 2020-2023 Total Revenues 31.9 % 150 Normalized EBITDA 52.3 % CAGR 2023-2027 Total Revenues Normalized EBITDA 121.3 250.0 33.0 100 92.2 18.6 20 20 68.0 12.1 48.5 52.9 50 50 38.4 7.9 10 19.8 % 15.4 % 5.3 21.0 4.6 3.3 1.3 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027e Total Revenues Normalized EBITDA data in thousands of euros | 2017-2020 - according to Spanish GAAP | 2021-2027 - according to IFRS 30 40 60 50 50 35 izertis#35izertis 2027 Plan International EXPANSION >> Europa USA Transition to CONTINUOUS TRADING MARKET Increase Our BRAND RECONGNITION Investors Customers >> Employees Deepending Our DIFFERENTATION One Izertis First One The Only One >>> The Great One >>> The Best Ones#36EMEA AMERICA SPAIN PORTUGAL USA MEXICO A Coruña Sevilla Lisboa Miami CDMX Barcelona Tenerife Aveiro Guadalajara Gijon Valencia Madrid Vitoria COLOMBIA Medellin 37#37izertis