2027 Plan Integrations at Izertis

izertis 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

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