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COMPANY PROFILE November 2018

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  • COMPANY PROFILENovember 2018

  • Summary

    CORPORATE OVERVIEW

    Analysis of the IT Market and positioning

    Financial Highlights

    Financial Securities

    Annex

    2

  • Digital Value: who are we?

    • Digital Value was born from the merger of two key companies of the Technology & ServiceSolutions sector: Italware S.r.l. and ITD Solutions S.p.A., both active in the Large Account sectorfor over thirty years

    • We are known as an end-to-end System Integrator, able to create and supply solutions for thedigital transformation of companies and public administration.

    • Our added value is our ability to offer quality services linked to innovative technologies.

    • Our decades of experience allow us to operate consistently on the Large Account market.

    3

  • Key people

    CARLO BRIGADA - Executive Vice PresidentHe graduated in Biological Sciences from the University of Milan in 1984. In 1985 he obtained his Masters Degree fromDrexel University in Philadelphia. In 1986 he founded ITD (International Trading Device). Its initial business was the saleof technological components imported mainly from the USA. On top of his activities in ITD, from 2009 to 2012 heworked as an Executive Senior Consultant for Bentley Systems – an American company specialised in software for thedesign and management of infrastructure. In this role, Carlo contributed to the growth of both customer base andprofits. In 2012, the company began to grow consistently and exponentially with the takeover of Technomind, acompany of the Benedini Group. Revenues rose from 13 to 83 million Euros over 5 years. Throughout this period he wasable to successfully manage company growth, dealing with clients, suppliers, the banking system and employees of thenew company, the number of which grew from 20 to 200.

    RICCARDO BENEDINI – Executive Director with responsibility for IRHe graduated in Political Sciences from the Università degli Studi of Milan.In the following years he joined the Brena-Marchesi Accounting Firm as a trainee, simultaneously obtaining a MastersDegree in Finance and Banking techniques from Euros Consulting.In 2002 he founded Technomind S.p.A. He was partner and administrator of Technomind until 2012, the year when hiscompany merged with Carlo Brigada’s ITD (in which is he currently a director).In 2004 he joined the Board of Directors of Progetto Grano S.p.A., founded after the bankruptcy agreement of thecompany Italgrani. This important experience also allowed him to develop an important knowledge of the InformationTechnology sector at an international level.

    MASSIMO ROSSI - PresidentHe graduated from the Scientific High School “Gabriele D’Annunzio” in Rome. After ending his studies, he wasappointed Head of Purchasing for a consortium set up by the companies Alenia S.p.A., Otomelara S.p.A., Sma S.p.A., andElettronica S.p.A., specialised in electronic systems for the Defence sector.He was subsequently appointed to the position of Head of Purchasing for the company Sistemica S.p.A., specialised incontrol and safety systems for the civil sector.In 1988 he founded Italware and has been CEO ever since. This company is specialised in the offer of solutions for thelarge account sector. From its creation, Italware has always been characterised by constantly growing profits andoperating profitability. Over the years, it has consistently expanded its market share and has acquired a level ofspecialisation that make it a reference point for its sector.

    4

  • • The IT market for the Large Account sector (Top Clients, companies with over 500 employees)has the largest expected growth rate in the market over the next three-year period (>5%*) andaccounts for 53% of the total Italian IT market.

    • Within the Large Account sector, Digital Value focuses on those industrial sectors with thelargest investment possibilities, which require specific skills to propose integratedTechnologies, IT Services and Solutions.

    • Thanks to its position and its consolidated relationships with the Titans of the IT sector, DigitalValue acts as the interpreter of market evolution and as a reference point for the sector .

    Digital Value: the new reference point for IT in Italy

    * Fonte: Sirmi

    5

  • Digital…Value Chain

    REALISATION AND IMPLEMENTATION

    PROVISION OF MANAGEMENT

    SYSTEMS

    MEASUREMENT OF

    KPIS

    THE BEST POSSIBLE SOLUTION DESIGN

    COMPARISON OF POSSIBILE SOLUTIONS

    ANALYSIS OF CLIENT NEEDS

    6

    Specific client information and business needs are collected, analysingboth explicit and implicit client needs. This is carried out independentlyfrom the technology to be used.

    Analysis of applicable solutions, examining both market andcustom-based solutions, created or personalised with thehelp of internal design skills.

    Planning of the best possible solutions,irrespectively of specific technologies.

    Solution implementation phase, to be followed bytest procedures and project release.

    Beginning of the following activities: constantmonitoring of possible malfunctions; ordinarymaintenance of the solution; resolution ofpossible procedural errors; implementation ofimprovements and updates.

    Evaluation factors are made available.

  • Digital Value: main market sectors covered

    TELECOMMUNICATION & MEDIA

    Expertise, both in the area of TLC networks and in the IT sector, allow DV to have a major role in thissector. All this is rendered also in support to RTI operators, giving added value and synergies to itsparticipation in principal domestic technological tenders

    INDUSTRY Partner of the main Italian operators (automotive, defence, transport) fulfilment of whose needs

    offers a growth opportunity in the world of IT and digitalisation Governance and management of specific added value areas in infrastructural services Business Applications

    CENTRAL PUBLIC ADMINISTRATION

    DV possesses the necessary requisites and references that allow the company to participate in theprincipal public administration tenders, thanks to its technical skills, a dedicated finance & legalteam and a historical track record of success in this sector.

    FINANCE

    Market sector that can be further developed (development in progress)

    7

  • Some of our clients:

    TELCO AND MEDIABANKS AND INSURANCE COMPANIES

    PUBLIC ADMINISTRATION INDUSTRY

    8

  • Financial Highlights

    Financial Securities

    Annex

    ANALYSIS OF THE IT MARKET AND POSITIONING

    Corporate overview

    Summary

    9

  • Italian IT market: 2013-2019e

    After years of structural weakness (2007 - 2014), theItalian IT market has inverted this trend, withaccelerating growth rates (+2,7% in 2019e) boosted bythe main Technological Innovation drivers : Digital transformation of companies and organisations Managed and Security services Cloud (Both infrastructural and application Cloud

    Services)

    Progressive use of technology as a service: The management services sector is the most dynamic

    (expected to grow by 10% over the next two-yearperiod)

    Switch from Hardware and Software to Cloud Services,both infrastructural and applications

    6.593 6.427 5.885 6.006 6.044 6.088 6.131

    3.951 3.8803.857 3.847 3.832 3.825 3.820

    3.7103.557

    3.474 3.423 3.436 3.471 3.511

    4.7644.750

    4.970 5.1925.503 5.910

    6.353

    0

    2000

    4000

    6000

    8000

    10000

    12000

    14000

    16000

    18000

    20000

    2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 E 2 0 1 8 E 2 0 1 9 E

    Hardware Software Project Services Management Services

    19.

  • Top Client Sector: the most important and dynamic IT sector in Italy

    The Top Client sector, where Digital Value ispositioned:

    Represents over 53% of IT demand inItaly (progressive polarisation of ITexpenditure in Italy, as in the mainevolved economies)

    Represents the fastest-growing sector(4% average expected growth in thenext two years, compared to theaverage 3,3% of the IT market)

    9.759 9.540 9.375 9.559 9.85410.114 10.427

    3.433 3.472 3.529 3.6223.700 3.790

    3.910

    2.331 2.308 2.258 2.2942.320

    2.3602.405

    839 820 820842

    860880

    9032.657 2.478 2.206 2.153

    2.1402.150

    2.170

    0

    5000

    10000

    15000

    20000

    2013 2014 2015 2016 2017E 2018E 2019E

    Top Clients Enterprise SME SoHo Consumer

    19.019 18.616 18.188 18.470 18.81719.294 19.815

    -4,1% -2,1% -2,3% +1,5% +1,9%+2,5% +2,7%

    Top Clients 2.200 aziende ed Enti con numero di dipendenti pari o superiore a 500

    Enterprise 28.100 aziende ed Enti con numero di dipendenti pari o superiore a 50

    SME 215.600 aziende ed Enti con numero di dipendenti superiore ad 1

    SoHo 4.200.000 aziende ed Enti con numero di dipendenti fra 1 e 9

    Consumer Individui e Famiglie

    Fonte: Sirmi, giugno 2018

    11

  • Italy’s level of digitalisation

    12

  • Growing market share thanks to the Group’s commercial and technical synergies and itspotential aggregative skills.

    Reinforcement of sales force in geographical areas which not yet well covered.

    Reinforcement of its strategic role in the Top Client market thanks to:

    Competences in Infrastructural Services Ability to address practices with a high level of business potential, such as:

    Hybrid Cloud Computing e-Business Solutions Cyber Security Solutions Collaboration Solutions Software Defined Network Solutions

    Possession of 450 technical certifications

    Digital Value and its growth potential - 1/2

    13

  • STRENGTHS Innovative design and integration skills/management of IT solutions Multidisciplinary technical skills and numerous specialist certifications Historic relationships with the principal international IT Vendors Consolidated Customer Set Recurrent and noteworthy backlog of a number of years Growing financial stability Autonomous/independent choice of specific technologies to design the best solutions Proven competence in management of complex orders and projects and integration offer Reference point for the principal and most dynamic Italian IT segment* (53% of the total) Recognised skills in the Datacenter Area focusing on Software and Cloud Enabling technologies Networking and security solutions Business Applications: control of specific and niche areas Managed Services – focusing on governance and datacenter and network infrastructure services

    * Fonte: Sirmi

    14

    Digital Value and its growth potential 2/2

  • Investment opportunities

    GROWING AND APPEALING SECTORGrowth opportunities both for internal lines and through acquisitions

    INTERESTING BUSINESS DEVELOPMENT AND PROFITABILITY PERSPECTIVESIn line with the comparable European best in class (Ebitda margin 8%)

    CASH FLOW GENERATION AND NFP EVOLUTIONCompatible with structural dividend distributions

    NOTEWORTHY TIME TO MARKETDecision-making process structured to immediately react to the evolution and the needs

    both of the market and of clients, thus guaranteeing a distinctive time to market

    15

  • FINANCIAL HIGHLIGHTS

    Financial Securities

    Annex

    Corporate overview

    Analysis of IT Market and position

    Summary

    16

  • Financial highlights and growth objectives• Digital Value is a large operator with high growth potential :

    • 2017 CONSOLIDATED PRO-FORMARevenues €259M

    EBITDA €19.6M (Ebitda margin 7.6%)Net Income €10,8MPassive NFP €1.8M

    • PAS STATUTORY GROWTH OBJECTIVES (CAGR 2017-2019 >14%)2018e 2019eEBITDA € 22,6M EBITDA €25,6MActive NFP €15M (before div.) Active NFP €21M (after dividend)

    • OUSTANDING PROFITABILITY FOR THE SECTOREBITDA margin equal to approximately 8%, cash generating capacity and operative cash flow

    1,8

    (15,0)

    (21,0)

    -25

    -20

    -15

    -10

    -5

    0

    5

    31 Dic 2017* 31 Dic 2018E 31 Dic 2019E19,6

    22,6

    5

    10

    15

    20

    25

    31 Dic 2017* 31 Dic 2018E 31 Dic 2019E

    CAGR + 14,1%

    EBITDA (€ M)

    PFN (€ M)

    25,6

    17

  • Track record Annual Turnover 2013 – 2017 (K€)

    2013: 107,456 2014: 125,217 2015: 145,933 2016: 214,578 2017: 259,002

    107,5

    125,2

    145,9

    214,6

    259,0

    100

    120

    140

    160

    180

    200

    220

    240

    260

    2013 2014 2015 2016 2017

    CAGR 2013-201724,6%

    € M

    Consistent and growing backlog that is renewed from year to year

    18

  • Evolution scenarios and potential peers

    11.1 F 12.7 11.3% 6.9% 4.7% 6.8x

    19.0 F 12.8 11.6% 9.2% 6.4% 11.3x

    1.7 UK 4.3 3.6% 2.8% 2.1% 9.7x

    0.7 BELGIUM 3.0 5.3% 4.4% 2.9% 7.6x

    0.4 ITALY 1.3 4.1% 3.6% 2.0% 6.8x

    Implied multiple

    EV/EBITDA

    MARKET CAP

    Country REVENUESEBITDA Margins

    EBIT margins

    NET INCOME margins

    Digital Value: EBITDA margin 7.6% of revenues, net profit on turnover: 4.1% in line with the European best in class for the sector

    Fonte: Bloomberg

    19

    Sheet1

    XLAC11695;MULTIPLEAREA_R;MULTIPLEAREA;;FILE=MULTIPLEAREA_FILE;0;2016.9.155.049|5.050.243.01033|EC|FMA|V;

    Report1;Report1Title;MTA;Multiple Entities Report (Local Currency) as of 06/25/18;0

    BERTI GABRIELE ANTONIO: XLM;'25/06/2018;;1,15,0,minibase,0,,515,350,,,10,,,,,,,,,,,,,,65536,EC|2016.9.155.049|5.050.243.01033|EC|FMA|V,,MINIBASE,;;;;date=25/06/2018;date=25/06/2018;date=25/06/2018,year=2018,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2019,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2020,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2018,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2019,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2020,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2018,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2019,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2020,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2018,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2019,context=WIN=100£v£AWIN=75D£v£;date=25/06/2018,year=2020,context=WIN=100£v£AWIN=75D£v£;;;^%FG_COUNTRY;^%FG_PRICE(date,currency);^=FREF_MARKET_VALUE_COMPANY(sdate,edate,frq,currency,1);^=FE_VALUATION(EV_SALES,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_SALES,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_SALES,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBITDA,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBITDA,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBITDA,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBIT,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBIT,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(EV_EBIT,MED,ANNUAL_EOCY_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(PE,MED,ANNUAL_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(PE,MED,ANNUAL_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');^=FE_VALUATION(PE,MED,ANNUAL_ROLL,year,sdate,edate,frq,'context,CURRENCY=currency');

    ;;'Country;'Price;'Company Market Cap.;'Median Ev/Sales 2018;'Median Ev/Sales 2019;'Median Ev/Sales 2020;'Median Ev/EBITDA 2018;'Median Ev/EBITDA 2019;'Median Ev/EBITDA 2020;'Median Ev/EBIT 2018;'Median Ev/EBIT 2019;'Median Ev/EBIT 2020;'Median P/E 2018;'Median P/E 2019;'Median P/E 2020;C11695;'Econocom Group SE Class D;

    Multiple Entities Report (Local Currency) as of 06/25/18

    CountryPriceCompany Market Cap.Median Ev/Sales 2018Median Ev/Sales 2019Median Ev/Sales 2020Median Ev/EBITDA 2018Median Ev/EBITDA 2019Median Ev/EBITDA 2020

    Econocom Group SE Class DBELGIUM5.151,2610.5 x0.5 x0.5 x8.3 x7.6 x6.9 x

    Median Ev/EBIT 2018Median Ev/EBIT 2019Median Ev/EBIT 2020Median P/E 2018Median P/E 2019Median P/E 2020

    9.8 x8.8 x8.0 x12.3 x10.5 x9.8 x

    Foglio1

    MARKET CAP* CountryREVENUES**EBITDA MarginsEBIT marginsNET INCOME Implied multiple EV/EBITDA Weight of SW and services (no technology or Supply Chain)

    margins

    13.1F12.713.8%10.4%7.4%7.4x>50%

    16.7F12.714.4%12.1%8.3%9.8x>99%

    82.8USA28.317.1%15%11.2%14.5x>99%

    1.2UK0.956.4%6.2%4.8%18.2x>99%

    1.8I0.7814.1%13%9%12.7x>95%

    22.9USA2321.4%11.1%10.3%6.5x>75%

    Foglio2

    MARKET CAPCountryREVENUESEBITDA MarginsEBIT marginsNET INCOME marginsImplied multiple EV/EBITDA

    11.1F12.711.3%6.9%4.7%6.8x

    19.0F12.811.6%9.2%6.4%11.3x

    1.7UK4.33.6%2.8%2.1%9.7x

    0.7BELGIUM3.05.3%4.4%2.9%7.6x

    0.4ITALY1.34.1%3.6%2.0%6.8x

    5

  • FINANCIAL SECURITIES

    Annex

    Corporate overview

    Analysis of IT Market and position

    Financial Highlights

    Summary

    20

  • Group structure

    ITALWARE

    100%

    Promoters

    1,46%

    Ex Italwareshareholders

    ITD SOLUTIONS

    100%

    DV HOLDING

    73.63% of which 29.56% PAS

    6.01% 79.78%

    24,91%

    ex ITD Solutions shareholders

    Lock up

    Lock upLock up

    Special shares Ordinary shares + PASOrdinary shares + warrants

    14.21%

    MARKET

    21

  • Financial Securities

    2,250,000 WARRANTS (WDGV – ISIN IT0005347437)

    2,670,671 PRICE ADJUSTMENT SHARES 48,000 SPECIAL SHARES*

    6,315,562 ORDINARY SHARES (DGV - ISIN IT0005347429)

    * Attributed to the promoters of the operation. Subject to 24 months’ progressive lock up, convertible 1:7 in ordinary shares in 4 equaltranches :

    @€11 p.a. / @€12 p.a / @€13 p.a. / @>€13 p.a. from 24° to 60° month from quotation .

    22

    9,034,233 OUTSTANDING SHARES, OF WHICH:

  • Warrant WDGV

    STRIKE PRICE

    € 9.50COMPULSORY EXERCISE

    € 13.30(With DV price per share steadily at€13.30)

    TIME VALUE5 YEARS (EXPIRY NOV. 2023)

    CONVERSION RATIO (AVERAGE MONTHLY SHARE PRICE - € 9.50) / (AVERAGE MONTHLY SHARE PRICE - € 0.10)

    0.2879 MAXIMUM CONVERSION RATIO647.775 MAXIMUM N. OF NEW ORDINARY SHARES

    2.250.000SEMI-CASHLESS WARRANT (WDGV – ISIN IT0005347437)

    23

  • PAS - price adjustment share

    2.670.671PAS – Price Adjustment Shares

    PAS are held by the entrepreneurs and historic shareholders, gathered into DV HOLDING, for atotal value of about €27M. These shares have the same voting and financial rights of ordinaryshares, but they are not listed:

    In the event that 2018 and 2019 growth targets are not achieved, a corrisponding, proportionalvalue of PAS will be cancelled and returned pro quota to the market, thus protecting the value pershare.

    Upon the achievement of the statutory growth targets, PAS will be converted 1:1 into listed,ordinary shares

    DIGITAL VALUE CONSOLIDATED GROWTH TARGETS:2018 EBITDA €22.6M and NFP €15M (cash)2019 EBITDA €25.6M and NFP €21M (cash)

    24

  • Some figures:

    A hypothetical ordinary share price steady at € 13.30 would imply:- the maximum conversion of all outstanding warrants (0.2879 conversion ratio);- the maximum conversion of all special shares into ordinary shares;- A Digital Value S.p.A. equity value equal to about € 132.60 M, of which €8.60M deriving fromthe conversion of warrants.

    The implicit EV/EBITDA multiple would therefore be 4.36X, based on 2019 growth target values

    Price per ordinary share Euro 13.30Accrued value per single warrant Euro (13.30 – 9.50) = Euro 3.802019 consolidated EBITDA €25.60M2019 consolidated NFP - €21M (cash)EV/EBITDA 4.36x

    25

  • 26

    Financial Securities

    ANNEX

    Corporate overview

    Analysis of IT Market and position

    Financial Highlights

    Summary

  • Digital Value: pro-forma P&L and BS as of 31.12.2017 (in thousands of Euros)NON-CURRENT ASSETS 30,723 NET EQUITY 46,779 Tangible fixed assets 5,275 Share capital 1,490 Other intangible fixed assets 204 Other reserves 34,362 Goodwill 23,268 FTA reserve 160 Financial assets 1,802 Profit (loss) for the year 10,767 Other non-current activities - NON-CURRENT LIABILITIES 8,418 Prepaid taxes 174 Non-current financial liabilities 6,197 CURRENT ASSETS 170,577 Funds for risks and expenses 835 Inventories 7,319 Funds for benefits to employees 1,386 Cash 40,765 CURRENT LIABILITIES 146,103 Current financial assets - Current financial liabilities 36,356 Trade receivables 76,253 Trade payables 101,471 Other current assets 44,512 Other current liabilities 3,699 Receivables for current taxes 1,728 Payables for current taxes 4,577 TOTAL ASSETS 201,300 TOTAL LIABILITIES 201,300

    Income from sales and services 258,045

    Other Income 957 TOTAL OPERATING INCOME 259,002

    Purchase of materials (201,472)

    Variation of inventory (250)

    Costs for services (22,532)

    Costs for personnel (12,683)

    Other operating costs (2,413) EBITDA 19,652Amortisations and depreciations (2,943)OPERATING RESULT 16,709

    Financial income 46

    Financial costs (1,063) EBT 15,691

    Income tax (4,925)NET RESULT 258,045

    27

  • A successful Business Case - IFIS Banking Group

    INVOLVED SOLUTION UNIT : HYBRID DATACENTER

    CLIENT The only Italian independent operator specialised in commercial credit, the collection of difficult taxcredits, and tax credits. Listed in the Italian Stock exchange in the Star sector.

    NEEDS to develop an integrated data management system to support the analysis and the decision-makingprocess linked to its own core business. In particular, the following objectives have been defined:

    1. Creation of a «data lake» to collect company data, accessible by the entire company;2. Implementation of advanced analysis tools. Accessing the data present in the data lake, they allow the

    activities of data discovery and valuing of company information assets;3. Optimisation automation and normalisation of the acquisition process of non-structured data.

    SOLUTION Data management system developed using mainly Cloudera and SAS systems

    IMPLEMENTED SOLUTION: DEVELOPMENT OF A DATA MANAGEMENT SOLUTION

    LARGE ACCOUNT SECTOR: FINANCE

    28

  • A successful Business Case - Istituto Poligrafico e Zecca dello Stato SpA

    INVOLVED SOLUTION UNIT : HYBRID DATACENTER

    CLIENT The Istituto Poligrafico dello Stato was founded in 1928 and purchased the Mint division in 1978. In 2002the Istituto Poligrafico e Zecca dello Stato became a publically traded company (S.p.A.). Its single shareholder is theMinistry of Economy and Finance. It is a world-famous Italian brand, where creative and manual skills areimplemented with the most sophisticated technologies to guarantee quality and safety for both PublicAdministration and Private Clients.

    NEEDS Creation and implementation of the start-up service and set-up of workstations at every Italian City Councilbranch, to a maximum number of 14,995. This makes up the peripheral infrastructure for the release of Electronic IDCards. Program Management Services and Operative Management were provided in order to be able to assurefunctional efficiency and the operational continuity of the aforementioned workstations; takeover of 525workstations already present on the territory, activated in phases preceding the project; service of Training forworkstation users.

    PLUS The supply involved all Italian Council Registry Offices, including the Consulates and European Embassies(starting from 2019). It is thus characterised by extensive services throughout all Italian and European territory.

    IMPLEMENTED SOLUTION : Creation of infrastructure for the release of the Electronic Identity Card

    LARGE ACCOUNT SECTOR : PUBLIC ADMINISTRATION

    29

  • A successful Business Case - Geico

    INVOLVED SOLUTION UNIT : ERP

    CLIENT Geico S.p.A. has designed and built painting equipment for the Automotive sector for over 50 yearsand is currently the world leader in this sector. In 2011 Geico set up a close partnership with Taikisha andtogether they are present in 28 countries.

    NEEDS full management of order control for both Italian and foreign branches (Brazil, the USA, Russia,England).

    SOLUTION the designed ERP unit solution creates and starts the information system and guaranteesassistance over time for the client, as well as supporting its change management. For Geico S.p.A. fullmanagement of order control has been set up both for Italian and the foreign branches (Brazil, the USA, Russia,England). A wide range of business solutions are now proposed also via a cloud platform and on IAAS, PAAS andSAAS technologies. In Geico, in particular, all JD Edwards infrastructure was migrated on an Oracle cloudplatform.

    IMPLEMENTED SOLUTION : MANAGEMENT OF ORDER CONTROL

    LARGE ACCOUNT SECTOR : AUTOMOTIVE

    30

  • A successful Business Case - Amplifon

    INVOLVED SOLUTION UNIT : BUSINESS APPLICATION

    CLIENT Amplifon is a public listed company and a global leader in the retail market for hearing care with14,000 employees and collaborators all over the world. It has exclusive, innovative and highly-customisableproducts and services. The company operates by means of a network of over 10,000 sales points in 21 countriesand over 5 continents.

    NEEDS Shop management platform

    SOLUTION Application at enterprise level based on .Net technology, which allows the management of thewhole lifecycle of complex products and services at Amplifon sales points. This goes from client management tothe sale of accessories and spare parts; from the planning of diagnostic appointments to cash management;from warehouse management to inventory and management of products under warranty. The implementedsolution makes a whole Profiling system available, giving visibility only to the geographical area of the shop. Allthis within the scope of tested communication and access mechanisms which guarantee the highest levels ofdata security.

    IMPLEMENTED SOLUTION : SHOP MANAGEMENT PLATFORM

    LARGE ACCOUNT SECTOR : BUSINESS

    31

  • A successful Business case - Emilia Romagna Region

    INVOLVED SOLUTION UNIT : INTELLIGENT NETWORK

    CLIENT Lepida S.p.A. is an operative tool promoted by the Emilia-Romagna Region for the planning, creation,design, development, integration, deployment, configuration, use, and realisation of telecommunicationinfrastructures and IT services that use network infrastructure for Partners and Organisations linked to theLepida Network.

    NEEDS to develop a unified metropolitan access network and backbone for its partner bodies. The guidelinesof this innovative project involve the availability of high multi-gigabit and multi-path performances upon accessfor every client, the virtualisation of the infrastructure for the safe coexistence of more bodies on the samenetwork, the possibility for the various bodies to extend their own internal services (layer 2 and layer 3) on ageographical area, and the resilience and continuity of the service.

    SOLUTION created using Juniper technologies, in its components of routing MX and switching EX, identifiedby Lepida with the technological support of Digital Value after a long period of market benchmarking. Thisproject was rewarded at the Network Design Challenge (June 2017) as the best of the international community.

    IMPLEMENTED SOLUTION : METROPOLITAN ACCESS NETWORK + BACKBONE

    LARGE ACCOUNT SECTOR : PUBLIC ADMINISTRATION

    32

  • www.digitalvalue.it

    MILANO – CORPORATE DIVISIONVia Galileo Galilei, 7 - 20124

    T. +39 02 62610400

    ROMA – HEADQUARTERVia della Maglienella 65/E - 00166

    T. +39 06 66411156

    Diapositiva numero 1SummaryDiapositiva numero 3Diapositiva numero 4Diapositiva numero 5Diapositiva numero 6Digital Value: main market sectors coveredSome of our clients:Diapositiva numero 9Italian IT market: 2013-2019eTop Client Sector: the most important and dynamic IT sector in ItalyItaly’s level of digitalisationDigital Value and its growth potential - 1/2 Digital Value and its growth potential 2/2 Investment opportunities Diapositiva numero 16Financial highlights and growth objectivesTrack recordEvolution scenarios and potential peers Diapositiva numero 20Group structureFinancial Securities Warrant WDGVPAS - price adjustment shareSome figures:Diapositiva numero 26Digital Value: pro-forma P&L and BS as of 31.12.2017 (in thousands of Euros)Diapositiva numero 28Diapositiva numero 29Diapositiva numero 30Diapositiva numero 31Diapositiva numero 32Diapositiva numero 33