Exprivia S p A : ’ board of Directors approves 2022 Annual Financial report

PRESS RELEASE

EXPRIVIA' BOARD OF DIRECTORS APPROVES 2022 ANNUAL

FINANCIAL REPORT

NET PROFIT EQUAL TO 11.5 MILLION EURO, +13.8%

STRONG IMPROVEMENT IN NET FINANCIAL DEBT

• Revenues: 183.7 million, +1.1% compared to 181.7 million euro in 2021
• EBITDA: 25.1 million euro (13.7 % of revenue), +2.2 % compared to 24.6 million euro in 2021
• EBIT: 19.2 million euro (10.4 % of revenue), + 5.8 % compared to 18.1 million euro in 2021
• Net result: 11.5 million euro, +13.8% compared to 10.1 million euro in 2021
• Net Financial Debt: equal to -18.3 million euro, compared to -26.5 million as at 31
  December 2021, an improvement of € 8.2 million.

March 15, 2023. The Board of Directors of Exprivia - a company listed on the Euronext market of Borsa Italiana

[XPR.MI] - today approved the Annual Financial Report as at 31 December 2022.

In 2022, the Exprivia Group recorded +1.1% increase in revenues and a gross operating margin of 13.7% of total revenues, leading to a net profit of EUR 11.5 million. Net financial debt improved strongly at EUR -18.3 million compared to EUR -26.5 million in 2021.

The overall performance has been up in all the markets in which the Group operates, Aerospace up +12%, Oil&Gas +22%, Industry +19%, and Public Administration +8%. The other markets, Finance & Insurance and Healthcare were Substantially stable. The Telco&Media market is in contraction, still subject to the difficulties of the sector in Italy. Good performance in foreign markets, Spain, Brazil and China, which recorded a total of +17%.

In 2022, Exprivia substantially keeps the previous year's level of revenues with a slight increase (+1%), approaching 184 million euro, though accompanied by a high marginality that allows it to exceed 11 million euro in net result and reduce its financial debt by more than 8 million euro, thus maintaining solid fundamentals for long-term growth.

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Results of the Parent Company as at the 31st December 2022

Revenues are equal to EUR 164.2 million, -0.1% compared to EUR 164.3 million in 2021.

EBITDA amounted to EUR 25.5 million (15.6 % of revenue), up -1.9 % from EUR 26.0 million in 2021. EBIT amounted to EUR 18.8 million (11.4 % of revenue), up 4.7 % from EUR 17.9 million in 2021. Net profit amounted to EUR 12 million (7.3 % of revenue), compared to euro 10.2 million in 2021. Shareholders' equity at the 31st December 2022 has been EUR 85.3 million, compared to EUR 76.4 million at 31 December 2021.

Net financial deb at 31 December 2022 was EUR -20.1 million compared to EUR -29.2 million at 31 December 2021, thus improving by EUR 9.1 million.

Further decisions of the Board of Directors

Today's Board of Directors reviewed and approved the Directors' Report on Corporate Governance and Ownership Structures, the Report on Remuneration Policy and Compensation Paid, and the Consolidated Non- Financial Statement for 2022 pursuant to Italian Legislative Decree 254/16.

The Board also approved the proposal to request the Shareholders' Meeting to issue a new authorisation to purchase and dispose of treasury shares pursuant to Articles 2357 and 2357-ter of the Italian Civil Code.

The Board of Directors also received from the Board of Statutory Auditors the Reasoned Recommendation for the assignment of the legal auditing of the accounts for the nine-year period 2023-2031, which it will submit to the Shareholders' Meeting, as the previous mandate to PwC has expired.

Lastly, the Board of Directors resolved to call an Extraordinary Shareholders' Meeting at the same time as the Ordinary Shareholders' Meeting, to which the proposal to amend Articles 19 and 23 of the Articles of Association will be submitted with regard to the procedures for holding meetings of the Board of Directors and the Board of Statutory Auditors.

"In 2022," says Domenico Favuzzi, Exprivia's Chairman and CEO, we have continued to consolidate the company's assets, maintaining good levels of marginality and aiming to reduce debt, a necessary drive to prepare ourselves to seize the best opportunities for growth and development in the ICT market. To the satisfactory performance achieved in important markets such as Aerospace, Energy and Public Administration, we have added growth in foreign markets and an increasing commitment to the crucial technologies of Cybersecurity and Artificial Intelligence. Exprivia's primary objective remains the building of skills and solutions aimed at transferring to customers the fruits of the most advanced digital technologies and the related benefits in terms of ESG issues management".

The manager responsible for preparing the company's financial reports, Donato Dalbis, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

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Exprivia

Exprivia is the head of an international Group specialized in Information and Communication Technology able to address the drivers of change in the business of its customers thanks to digital technologies.

With a consolidated know-how and a long experience given by the constant presence on the market, the Group has a team of experts specialized in different technological and domain fields, from Capital Market, Credit & Risk Management to IT Governance, from BPO to CyberSecurity, from Big Data to the Cloud, from IoT to Mobile, from networking to business collaboration up to the SAP world. The Group supports its customers in the Banking & Finance, Telco & Media,Energy & Utilities, Aerospace & Defense, Manufacturing & Distribution, Healthcare and Public Sector sectors. The offer includes solutions consisting of own and third-party products, engineering and consulting services.

Today the Group has about 2,400 professionals distributed in 7 countries worldwide.

Exprivia S.p.A. is listed on the Italian Stock Exchange on the Euronext Milan (XPR) market.

The company is subject to the management and coordination of Abaco Innovazione S.p.A.

www.exprivia.it

Contact

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CONSOLIDATED BALANCE SHEET AND FINANCIAL POSITION AS AT 31 DECEMBER 2022

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