MailUp Group overview and latest results Nazzareno Gorni CEO AIM - PowerPoint PPT Presentation

MailUp Group overview and latest results Nazzareno Gorni – CEO AIM INVESTOR DAY, 1 October 2020

MailUp Group at a glance Innovation Global Expansion Growth • International revenues from 10% to • Fast-growing industry: cloud • Revenues 3y CAGR +41% 56% since IPO software/marketing technology ✔ +26% FY 2017 (organic) • Serving 23,000+ B2B clients in 115+ • Focus: data-driven omni-channel ✔ +47% FY 2018 (organic) countries (271,000 free users) predictive marketing automation ✔ +51% FY 2019 (organic +46%) and mobile content creation • 240+ employees in 3 continents • 5 acquisitions in 3 years • Always profitable 2 MailUp Group

From startup to leading European player in cloud software R EVENUES 70 A CQUIRED D ATATRICS (NL) €5 M G OVERNMENT G RANT 60 ABB : RAISED €6M, A CQUIRED M AILCULT (IT) 50 A CQUISITIONS : A GILE T ELECOM (ITA), G LOBASE (DK), A CUMBAMAIL (ES), BEE (USA) SPUN - OFF 40 30 IPO ON LEADERSHIP SMS CHANNEL IS C OMPANY M AILUP IN I TALY P IVOT : NOW AIM I TALIA : RAISED €3M ADDED TO THE BOOTSTRAPPED LAUNCH FOCUSED ONLY 20 OFFERED SERVICES ON M AILUP AS DIGITAL AGENCY IN C REMONA (ITA) 10 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 *In 2016 Group transitioned to IFRS accounting standards. FY 2015 is restated. Therefore historical data may not be comparable. *In 2016 Group transitioned to IFRS accounting standards. FY 2015 is restated. Therefore historical data may not be comparable. 3 MailUp Group Data in Mn/EUR. Source: Company and Group financial statements Data in Mn/EUR. Source: Company and Group financial statements

A tech group built on strong synergies Group Holding / Parent ~45 employees Strategy, M&A, Finance/Accounting, IR, IT, HR, Legal Business Units ~195 employees Freemium Tool Cross Selling SMS Services Email Editor AI Predictive Marketing 4 MailUp Group

Revenue distribution FY 2019 MailUp 30% MailUp 70% Agile Telecom Rest of Europe 37% Datatrics 100% BEE 100% USA 8% Italy 53% Acumbamail 90% Acumbamail 10% Non Recurring Recurring Revenues ( ~ 30%) Other 3 % 5 MailUp Group

Mature vs innovative businesses Cumulated EBITDA 2017-2019 Sales CAGR 2017-2019 160% 8 7.4 140% 140% 7 120% 108% 6 5,2 100% 5 80% 67% 4 60% 3 31% 40% 2 1.1 0.7 11% 20% 1 0 0% (0.6) -1 6 MailUp Group Data in Mn/EUR 2018-2019 for Datatrics

Needs we serve Why choose MailUp Group? IT Multi-channel • Departments Easier • Personalized • Creation Transactional Faster • Delivered! • Consistent • Marketing Cost effective • Depts Multi-channel • Data-driven • Scalable • Journeys Broadcasts Omni-channel • Curated or • AI-enhanced • automated 7 MailUp Group

P&L EBITDA Revenues YOY +51% 70 YOY 60.8 +27% 60 ORGANIC YOY ORGANIC YOY 5.6 +47% 6 +31% 50 4,8 4.8 40.2 5 ORGANIC YOY ORGANIC YOY 3.8 40 +26% +21 % 4 27.3 2.9 30 2.4 3 21.6 20 2 0.7 9.5 9.1 0.5 7.2 10 1 0 0 FY 2013* FY 2016 FY 2017 FY 2018 FY 2019 FY 2013* FY 2014* FY 2015* FY 2016 FY 2018 FY 2019** FY 2017 FY 2014* FY 2015* *In 2016 Group transitioned to IFRS accounting standards. FY 2015 is restated. Therefore historical data may not be comparable. Data in Mn/EUR. ** FY 2019 reported EBITDA affected by: the positive impact from first-time adoption of the new IFRS 16 on lease accounting without comparative data restatement, starting from 1 January, 2019 (ca EUR 834k); (i) (ii) the negative impact of ca. EUR 1M from contingent liabilities on certain supplies for Agile Telecom, solved with a transaction and subsequently discontinued; 8 MailUp Group (iii) the negative effect of Datatrics start-up margins by ca. EUR 600k

Balance Sheet Shareholders’ Equity Net Cash Position 17.0 18 ABB 15.9 14.0 15 7.3 7.0 8 12 6.4 6 9 7.0 6.2 3.3 IPO 4 6 2.4 3.3 1.0 1.0 2 3 0.6 0.1 0 0 FY 2013 * FY 2018 FY 2019 FY 2013* FY 2014* FY 2015* FY 2016 FY 2017 FY 2018 FY 2019** FY 2014* FY 2015* FY 2016 FY 2017 *In 2016 Group transitioned to IFRS accounting standards. FY 2015 is restated. Therefore historical data may not be comparable. ** 2019 NFP variation influenced by: Positive operating cash flow, Bigger debt figure from IFRS 16 first-time adoption (EUR 4.6Mn) cash outs for the last earn-out tranche on Agile Telecom (EUR 600k) and second +third tranche on Datatrics’s purchase price (EUR 748k). Data in Mn/EUR. 9 MailUp Group Liquidity still ca. EUR 9Mn

1H 2020 Sales Revenues EBITDA 1H 2020 1H 2019 Ch% 1H 2020 1H 2019 Ch% 10.2% 31.4% MailUp* 8,063 7,317 1,947 1,482 1.0% (16.1%) Agile Telecom 20,686 20,487 623 742 71.2% (70.3%) BEE 1,832 1,070 94 318 67.6% 108.9% Datatrics 1,720 1,026 (740) (354) 30.5% 11.6% Acumbamail** 745 571 127 114 68.3% 83.6% Holding 2,587 1,537 (47) (286) n,m, n.m. Consolidation Adjustments (3,943) (2,698) 173 127 8.1% 1.6% 31,690 29,310 2,177 2,144 Total MailUp Group

11 1H 2020 Item 30/06/2020 % 30/06/2019 % Change Ch% Revenues from Email 7,669,505 24.2% 1,334,122 21.1% 6,335,383 21.6% Revenues from SMS 21,466,413 67.7% 629,124 3.0% 20,837,289 71.1% Revenues from Predictive Marketing 1,425,722 4.5% 572,718 67.1% 853,004 2.9% Revenues from Professional Services 342,565 1.1% (11,897) (3.4%) 354,462 1.2% Other Revenues 786,266 2.5% (144,046) (15.5%) 930,311 3.2% Total Revenues 31,690,470 100.0% 2,380,021 8.1% 29,310,449 100.0% Gross Profit 9,777,032 30.9% 1,234,729 14.5% 8,542,304 29.1% EBITDA 2,143,722 7.3% 2,177,411 6.9% 33,690 1.6% Profit (Loss) for the period 410,922 1.4% 404,989 1.3% (5,933) (1.4%) MailUp Group

Stock Information / Shareholders Stable control Founders entered a shareholders’ agreement regarding Gorni Nazzareno* • 50.1% of the share capital, in equal measure (2018-2021 lock- CEO 10.6% up) Azzali Luca* Market Market friendly 36.3% Director, BU MailUp 10.6% 1 female Director, Micaela Cristina Capelli – IR • 1 independent Director • Free float >35% • Miscia Alberto* Quarterly reports • Manager, BU MailUp Treasury Shares Upgraded management control system 10.8% • 0.7% Management incentive plan (optional in shares) + SOP • Employees Reporting in international accounting principles (IFRS) • 0.3% Risk management: introduced “Model 231” Monfredini Matteo* • BMC Holding ** All info ITA/ENG Chairman & CFO • 3.9% 10.7% Bettoni Matteo* Pronti Gianluca Director, BU Agile Telecom • MailUp shares are admitted to trading on AIM Italia since July 6.1% 10.1% 25 th , 2014 • Bloomberg MAIL IM – Reuters MAIL.MI * Group’s Founders and Management Team Group • IPO Price (29 Jul 2014) €1.92 ** subject to lock-up • Current Price (29 Sep 2020) €4.97 12 MailUp Group • Current Market Cap (24 Sept 2019) €74.4 mln

ESG (Environment, Sustainability, Governance) Caring for employees, environment, people, community, investors Environment Diversity Community Governance • CO2 compensation (since • 44% women • Co-working space • Independents: 1/5 2007) • Low turnover founded in 2014 with • Pay-per-performance • New sustainable office • Training & Coaching Politecnico di Milano, • Anti corruption policy • Recycling culture • No Temporary staff Cremona City Hall and • Tax transparency • 734 planted trees through others to foster education • Ethical business approach Treedom and talents • No data sharing • No spam • GDPR compliance • M3AAWG membership to fight abuse 13 MailUp Group

List of Parties NOMAD AUDIT & ACCOUNTING SPECIALIST BROKER / COVERAGE LEGAL ADVISOR 14 MailUp Group

Thank you investor.relations@mailupgroup.com MailUp Group