Corporate Presentation11/4/2019

1

Company Introduction

Financials

Products, Technology

Looking forward

Financial Technology

2

Introduction

Profile Software is

❖ a world-class Financial SoftwareProvider

❖ of Mission Critical Solutions

❖ to the modern Banking, Fintechand Investment Managementindustries

❖ offering innovative technologiesand successful implementations

Financial Technology

3

4

❖ Established in 1990, 29 years of experience

❖ 250 Clients in 38 Countries

❖ 7 International Offices

❖ 170 employees

❖ Listed on Athens Stock Exchange in 2003

❖ Founder controls 49.9% of the company, Managers 13.1%, Treasurystocks 4.3% and Free Float 32.7% out of which c.10% Institutionals

❖ 1st to introduce a natively developed mobile wealth management app

❖ 1st to introduce digital banking functionalities for challenger banks in theUK, France etc.

❖ 1st to introduce an Omni-channel Investment Management Platform

5

13,8 13,8 13,9 14,5 15,1 15,7 16,7 17,3 18,2 18,6

0

5

10

15

20

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

2012

London

Office

Launched

Mobile

aps

Singapore

Office

Launched

FMS.P2P

Lending

Platform

First UK Fintech

Implementations

Launched

IMSplus 2.1

Launched

Mobius

& Plexus

Platform

Launched

Axia

Launched

Axia

Robo

Advisor (AI)

and

Fund

Management

Equity in €’mil

FMS.next

Open

Banking

Footprint

in Asian

market

15 Risk

implementations

across Europe

Accredited

by Gartner,

Forrester,

IBS, Celent

International

Awards

Launched

FMS.next

International

partnerships

2011

Implementations

in 3 continents

Launched

RiskAvert

Acquisition of

Paris Office

Global Strategy Continuous Transformation

Geneva

Office

2012

Dubai

Office

Trademarks are property of the respective owner

strong local relationships and insights

6

Presence in 38 countries

Offices in 7 Key financial centers

❖ Athens, Greece

❖ London, UK

❖ Paris, France

❖ Dubai, UAE

❖ Nicosia, Cyprus

❖ Miami, USA

❖ Singapore

7

MADA Capital

Greece

Europe

MEA, APAC

Americas

Arrow

Trademarks are property of the respective owner

Highlights

Financial Technology

8

❖

❖ Strategically positioned on new trends❖ Value to the Clients

❖

❖ Time to market❖ Flexible, Agile, Scaling mindset

❖

❖ Servicing large clients for a long time❖ Industry reports; Gartner, IBS, Celent, Forrester

❖

❖ Profitable business, Cash flows❖ Reinvestment in R&D and Clients’ support

❖

❖ c. €500bn in 2020❖ Non-traditional banking >37% by 2021❖ IT spending 5% - 10% of operating costs❖ Relatively high barriers to entry

Financial Technology

8

Company Introduction

Financials

Products, Technology

Looking forward

9

Financial Technology

10

Highlights

in Sales(2018)

20%

Growth

in EAT(2018)

24%

Increase

~70%

Recurring Revenues EBITDA margins

~30%

International Sales

~65%

R&D Investments

~15 -20%

9,3

11,6

13,8

2,83,9 4,1

0,9 1,0 1,3

2016 2017 2018

Key financials (in € mil)

Revenue EBITDA EAT

+24%

+20%

+ 20-30%

& Solid margins

CAGR +22% CAGR (Intl) +30%EBITDA margins ~30%

P&L (in €’k) FY2016 FY2017 FY2018 Δ%

Turnover 9.293 11.557 13.829 +20%

EBITDA 2.817 3.930 4.056 +3%

EBITDA margin 30% 34% 29% (5%)

PBT 545 1.404 1.704 +21%

EAT 561 1.020 1.261 +24%

EAT margin 6% 9% 9% +0,2%

EPS (in €) 0,0477 0,0867 0,1091 +26%

Revenues +20% in 2018, on top of +24% in 2017

EV(‘19)/Revenues (‘18) 1,00xEV(‘19)/EBITDA (‘18) 3,40x

11

Revenue

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

100%

2006 2008 2010 2012 2014 2016 2018 2020F

Revenue Evolution by Origin

Domestic International

12

5,37,2 8,9

4,0

4,34,99,3

11,5

13,8

2016 2017 2018

Sales (in € mil)

International Domestic

Europe45%

Greece35%

MEA & APAC14%

Americas6%

Revenue Breakdown by Geography (2018)

Europe Greece MEA & APAC Americas

Revenue

13

Recurring revenues ~70%,

from Maintenance, SaaS, PayG & Additional

Users

Loyal clientele ~99%, very low churn

6,07,8 9,3

1,8

1,8

2,1

1,5

2,0

2,4

50,0%

55,0%

60,0%

65,0%

70,0%

75,0%

80,0%

85,0%

90,0%

95,0%

100,0%

0 mil. €

5 mil. €

10 mil. €

15 mil. €

20 mil. €

2016 2017 2018

Revenue Types

New Services New Licenses Recurring revenue Recurring revenue % Own Proprietory Solutions

+18%

+15%

Own developed products

~95%

New clients’ acquisition rate

~20%

14

Contracts

FY’2018 €8.9 mil, vs

FY’2017 €6.8 mil (+30%), while

Q1’2019 €6.2 mil. already

1,45

1,151,05

0,900,83

0,55

0,37 0,36 0,32 0,31 0,26 0,22 0,18 0,12

0,80

in €

mil

Clients

FY'2018

6,8

8,9

6,2

FY'2017 FY'2018 Q1'2019

in €

mil

+30%

15

Balance SheetBalance Sheet FY2016 FY2017 FY2018 Δ%

AssetsTangible & Intangible Assets 13.157 13.751 12.680 (8%)Other non Current Assets 827 811 789 (3%)Non Current Assets 13.984 14.561 13.469 (8%)Inventories 308 188 184 (2%)Trade Receivables 6.399 6.895 6.436 (7%)Other current assets 2.922 2.392 2.053 (14%)Cash & Equivalents 13.409 13.085 13.742 5% Current Assets 23.037 22.560 22.415 (1%)Total Assets 37.022 37.121 35.884 (3%)

Equity 17.352 18.232 18.653 2% Non Controlling Interests (78) (77) (78) 0% Debt 6.112 5.217 4.620 (11%)Trade Payables 3.553 2.834 2.703 (5%)Social Security and Taxes 771 907 1.233 36% Deferred liabilities 1.736 3.294 3.274 (1%)Subsidies 4.728 3.981 2.725 (32%)Provisions & Other liabilities 2.847 2.734 2.753 1% Total Liabilities 19.747 18.967 17.309 (9%)Total Liabilities & Equity 37.022 37.121 35.884 (3%)Net Cash 7.297 7.869 9.121 16%

Key Ratios

Debt to Equity 1,14x 1,04x 0,93x

Current Ratio 1,90x 1,85x 1,85x

ROCE 5,1% 9,8% 12,3%

ROE 3,2% 5,6% 6,8%

Price to Book Value 0,31x 0,46x 0,78x

1,11,0 0,9

1,9 1,91,8

2016 2017 2018

Ratios

Debt to Equity Current Ratio

Debt to Equity ratio fall to 0.9x in 2018

ROCE and ROE increased to 12.3% and 6,8% respectively

Current ratio stable at ~1.85x

Company Introduction

Financials

Products, Technology

Looking forward

Financial Technology

16

Technology

technology

❖ Emerging technologies driving the evolutionof Financial Industry (RPA, cloud, AI, etc.)

❖ Multiple deployment methods (SaaS, BPO,etc.)

❖ Enterprise agile practices enabling toinnovate & deliver effectively

❖ DevOps engagement achieving higherefficiency & quality through end-to-endautomation

❖ Unique flexibility, seamless integration andsuperior user/customer experience (UX/CX)

❖ Accelerate clients’ operational growth

Products & Technology

17

Financial Services Solutions

18

Payments Systems

TreasuryManagement

Fund Management

WealthManagement

Risk Management & Compliance

Retail & Corporate Banking

Customer

Centric

Fast Time

To Market

Turn Key

Cloud

Enabled

Easily

Deployable

Fully

Compliant

Open

Architecture

Agile

18

new trends

19

• Payments• Alternative Lending /

Crowdfunding

• Insurance Investment Management

• Cryptocurrencies

• Treasury Management • Risk Management

• Robo Advisory

• Regulatory Reporting

WealthTech

Open Banking / APIs

Treasury / Risk

Mgmt

Blockchain

RegTech

Payments / Alternative

Finance

InsurTech

RPA / AI

• Core Banking• Digital Banking

• Wealth Management • Asset / Fund Management • Custody

20

Company Introduction

Financials

Products, Technology

Looking forward

20

Financial Technology

forward

❖ Growing market

❖ Competent Team

❖ Continuously upgrade product & delivery offerings

❖ Strategy to deliver sustainable growth

❖ Outperforming Industry peers fundamentals

❖ Strong Q1’201921

Market

22

2020: $475 bn

Financial Services lead IT spending

The Big tech firms (GAFA) are developing a digital ecosystem

2 out of 3 millennials prefer online banking and payments

Mobile commerce and omni-channel payments on the rise

Banking-as-a-platform

Mobile wallet to account for more than 160bn USD payments by 2022 BAI, eMarketer, Capgemini

22

70% AI savings on operational tasks

37% of banking customers will use non-traditional financial services firms by 2021

APIs are key

Global volume of net HNWI will increase by 25% to almost US$70 trillion by 2021

7.2bnGBP revenue opportunity created by Open Banking by 2022 The financial brand, EY, PwC, ODI, Capgemini

Trademarks are property of the respective owner

Team

CEO

CFO, COO

Region GR, CEE, MEA, APAC

CTO CMO CHRO

BANKING RISK ENTERPRISE

SolutionsPre-SalesServices

ImplementationsProduct Dev

QA

Ticketing

ExCo

Business Units

Commercial

Region UK, Nordics, N. America

Region FRA, French speaking Europe

TREASURY

Public

INVESTMENT

SolutionsPre-SalesServices

ImplementationsProduct Dev

QA

SolutionsPre-SalesServices

ImplementationsProduct Dev

QA

SolutionsPre-SalesServices

ImplementationsProduct Dev

QA

❖ Competent skills

❖ Global experience and culture

❖ Hiring from International peers

❖ Lean structure

23

fundamentals

24

Sales growth

EBIT

DA Infosys

FIS Fiserv

CA TechnologiesWolters Kluwer DST Systems

FactSet

SS&CTemenos

MYOB

Fidessa

Sword

First Derivatives

Craneware

Microgen

StatProGresham

Profile Software

Intrasoft IT

Unisystems

MLS

Intralot

Space

EpsilonNet

Entersoft

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

-10% -5% 0% 5% 10% 15% 20% 25%

Trademarks are property of the respective owner

multiples

0,002,004,006,008,00

10,0012,0014,0016,0018,0020,0022,0024,0026,0028,0030,0032,00

EV / SALES EV / EBITDA

25

2,6

13,0

4,5

15,0

6,4

20,0

0,0x

5,0x

10,0x

15,0x

20,0x

25,0x

30,0x

EV/Sales EV/EbitdaMSCI Europe IT Financial Solutions High Growth Financial Solutions

Trademarks are property of the respective owner

value growth potential

26

• Intl sales 2008: 16%

• Own developed

products: c.50%

• Ebitda: 20%

• Book: €15.0 mil

Liquidity 2019 c.21k

• Intl sales 2018: 65%

• Focused & upgraded product

portfolio

• Own developed products c.95%

• Ebitda: 29%

• Growing market & upside

Assuming c.20% growth in 2019

and 4x EV/Sales, 15x EV/Ebitda,

Price corresponds to c.€6.50 ps.

of value

Solid margins Productivity

Re-investment

Growing marketCommercial expansion

Revenue growthQuality revenueQ1’2019 growth

27

Robust technology Delivery automationsScalability

Transformation

M&AComplementaritiesAccelerate growth

Attractive valuation

KPI’s

28

❖ This document has been created by Profile Software (Profile) in order to be used for specific purposes in corporate

presentations. The information included in this presentation has not been reviewed by an independent authority.No belief, position or opinion expressed should be based on the impartiality, accuracy, completeness or

correctness of any information or opinion included in this document. Profile, its subsidiaries and affiliates, or their

directors or representatives thereof, shall have no obligation or liability, due to negligence or otherwise for anydamages arising from or in connection with the use of this document or the contents thereof.

❖ This document is not an offering or solicitation for the purchase or subscription to any shares. The information

included in the present document that is not of historical nature reflects statements that comprise futureestimates and forecasts. All such forward-looking statements, such as the representations regarding Profile's

ability for further development and expansion of activities, expansion in new markets, cost reductions including

labor cost, or regarding the impact of law, or changes in the overall economic conditions, or recourses to courts oflaw, or anticipated future revenue, or financial resources, or the use of funds or any other representations that are

included in the present document reflect management's best judgment based on factors currently known and

include uncertainties and risks. There is no guaranty that the anticipated results will be achieved. Real facts orresults may vary from the expressed assessments, due to the conditions of uncertainty that Profile is faced with.

Thank you