#10 Gpi INVESTOR PRESENTATION FY22 May 2023#2VISION to be at the forefront of the technological and sustainable transformation of preventive and care processes for healthcare, promoting the well-being of individuals. MISSION we strive to provide health professionals and patients with the knowledge, skills, and tools necessary to enhance preventive and care processes through the use of software, services, and cutting-edge technologies. VALUES の » ETHICS 00 History of Growth 35 years of experience, management team with a track record of internal growth and M&As International footprint solutions used by 3,000 + customers in more than 70+ countries Leadership > Uniqueness 1st player in Italy: services granting access to care 2nd player in Italy: software solutions for health and social care systems integrated software, technology and service solutions to optimise the clinical, care, administrative and social processes our work helps improve the quality of life RESPONSIBILITY PEOPLE-CENTERED D Quality of life PASSION CARE Gpi 2#3● Digital Health: the Solution for the Health Care Market Current environment Shortage of medical staff (doctors, nurses) Complex and intricate processes Digital health solution Effects and streamlining AUTOMATION MANAGEMENT SOFTWARE Need for new forms of treatment (custom-made and remote clinical pathways) TELEMEDICINE Resources optimization and impact on average hospitalization Process facilitation and consequent improvement of the patient journey Greater integration and adoption of patient-centric operating model Difficulties in capturing data in a structured and digital way ARTIFICIAL INTELLIGENCE & DATA ANALYTICS Better and constant monitoring of the clinical path Gpi 3#4Gpi ca. 7k Employees 3,000 + a History of Steady Growth Revenue FY22 € 360.2 M M&A deals € 200 M in the last 6 years EBITDA FY22 €54.2 M % on adj. Revenue 17.4% 16.7% 16.4% 16.0% 16.0% 15.2% 15.1% 386.1 14.8% 360.2 61.8 326.9 271.0 54.2 49.8 40.2 2020 2021 2022 2022 2020 2021 2022 2022 Pro Forma Pro Forma Revenue 2021-22 67% +10.2% Clients Recurring Revenues Note: pro forma revenue includes Tesi's results on a 12-month basis EBITDA 2021-22 +8.8% 4#5> Software Supply Lines FY22 € 140.6 M Revenue € 37.6 M EBITDA 91% Retention 41% Recurring fees 1-3 years Average contract length Modular and integrated information systems: • . • 39.7% Clinical - HIS 19.9% Blood Management System 7.4% Business Intelligence, Data analytics 7.4% Health ERP . 11.3% HR/PA • 14.3% Other - Health Social Care | Telemedicine, etc. CO Automation € 17.5 M Revenue € 3.6 M EBITDA Pharmacy Automation . Retail ICT € 19.7 M Revenue € 2.1 M EBITDA on-site / on-line . Hospitals 11 +37 ○ Care € 166.5 M Revenue € 6.5 M EBITDA 5 95% Retention 93% Recurring fees 4-6 years Average contract length Supporting the National Healthcare Systems: • BPO health care administrative svc. (AtC,..) • Virtual care (services) Pay € 13.6 M Revenue € 4.5 M EBITDA • e-payment & e-mandate • HW & SW maintenance & assistance • electronic storage . system services#6Geographic Footprint Italy: the entire offering DACH: Blood, HIS, Virtual Care (VC), Automation ROW: Blood, Automation, Virtual Care (mainly in Europe & the Americas) Export 10.8% Italy 89.2% +24.4% YOY Customer Base 80.0% H 87.5% 7.5% 3,000 + 6.3% clients 6.2% nH 12.5% % of worldwide revenue FY22 % of worldwide revenue FY22 • 6 Health Public 80.0% • • Healthcare Authorities Hospitals Public providers (in-house) Regions, Provinces Health Private 7.5% Nursing homes Private clinics Pharmacies Non Health Public 6.3% • Municipalities Provinces Regions Non Health Private 6.2% • • Large scale retail trade Banks Meal voucher operators Non-food chain stores#7Highlights FY22 a Year of Extraordinary Transactions and Investments for International Growth and Company Consolidation . Sustainability-linked refi stipulated for € 190 M to support M&A • Acquisition of Tesi 65% | 35% put & call | EV € 90 M • Share Capital Increase ~ € 140 M Rating Agency Confirms A3.1 Public Rating | A- S&P | A3 Moody's | A-1 Fitch equivalent RIEDL Entering the Japanese market with pharmacy robots Gpi Blood New contracts in Greece, Estonia, Saudi Arabia (whole Countries ~ € 14 M) Global Presence, Local support Consip Framework Agreement "1" EMR & Telemed: the consortium led by Gpi equalled ~ € 104 M of direct orders to date Gpi added up to ~ € 82 M | ~ € 55 M new contracts + ~ € 27 M new direct orders • Electronic Medical Record Lombardy Region ~ € 12.5 M • . Pathological Antomy software Veneto Region ~ € 5.9 M Telemedicine Platform Friuli Venezia Giulia Region ~ € 1 M 7#8P&L: Strong Growth in FY22 Revenue € 360.2 M +10.2% | 8.7% organic (pro forma €386.1 +18.1%) € M FY22 pro forma FY22 FY21 SW . Care Revenue & other income 386.1 360.2 326.9 • Other Adjusted Revenue¹ 355.6 329.7 298.1 EBITDA 61.8 54.2 49.8 SW EBITDA % on total revenue 16.0% 15.1% 15.2% • Care • Other EBITDA % on adj. revenue 17.4% 16.4% 16.7% EBIT 31.3 26.0 23.5 EBIT % on total revenue 8.1% 7.2% 7.2% EBT 21.4 16.8 16.7 Net profit 13.4 9.9 11.3 Note: (1) Net of Temporary Consortia (RTI) € 140.5 M +19.5% € 168.8 M +1.6% € 50.8 M +18.0% EBITDA € 54.2 M | 16.4% on adj. Revenue (pro forma €61.8M | 17.4% on adj. Revenue) € 37.6 M € 6.5 M € 10.2 M 26.8% on adj. Revenue 4.7% on adj. Revenue 20.1% on tot. Revenue EBIT € 26.0 M (pro forma € 31.3 M) depreciation & amortisation and provisions € 28.2 M Net Profit € 9.9 M (pro forma € 13.4 M) tax impact € 6.9 mn (+ € 1.4 M) net interest expenses € 9.2 (+ €2.4 M) Proposed dividend € 0.50 p.s. 8#96 Revenue Breakdown by SBA (EM) 386.1 360.2 13.6 19.7 13.6 326.9 17.5 19.7 11.3 17.5 17.8 14.0 168.8 168.8 166.2 166.5 140.6 117.6 . Software reported +19.5% thanks to Consip Framework Agreement Tenders for digitizing health care. The acquisition of Tesi flows entirely into SBA Software, which would exceed € 166 M in revenue, consolidating its importance for Gpi, both in terms of revenue and margin. Care performed as forecasted, showing a slight increase revenue, linked to a slowdown of extraordinary activities for Covid 19 and the expiry of some contracts. Other SBAs performed above expectations, all three with a double digit strong growth: • Automation + 25.2%, thanks to the Italian retail pharmacies sector and to international growth. Pay +20.7% through the extended adoption of ePayment systems ICT +10.6% thanks to the development of existing contracts. 2021 2022 2022 Pro forma Software Care Automation ICT Pay Strategic Business Areas Pro forma contribution of Tesi boosts total Revenue over € 386 M.#10EBITDA Breakdown by SBA (ЄM) • 17.4% 16.7% 16.4% 16.0% 15.2% 15.1% . 61.8 4.5 54.2 2.1 49.8 3.6 4.5 . 3.9 2.1 6.5 1.4 3.6 2.8 6.5 8.8 45.2 37.6 33.0 2021 2022 2022 pro forma % on adj. revenue I Software Care Automation ICT Pay % on tot. revenue Strategic Business Areas • Software increased its EBITDA by € 4.6 M, which further grew by € 7.6 M when added up the pro forma consolidated EBITDA from Tesi. Care profitability slightly shrank because of higher corporate costs impacting the SBA. Other SBAs performed above expectations Automation and ICT reported solid performance both in absolute terms and in percentage. Pay inflationary pressures have resulted in a reduction of profit margins. Tesi's 12-month pro forma contribution tallies with a consolidated EBITDA margin of 16.0%. 10#1111 =4 Revenue Adj. and EBITDA by SBA FY22 (€ M) Software > Software 28.3% 26.8% 140.1 28.3 Care 27.2 166.0 138.2 116.8 116.8 33.0 37.6 45.2 33.0 2021 2022 6.4% 138.8 4.7% 8.8 6.5 2021 2022 2021 2022 Pro forma Automation CO ICT 19.9% 20.7% Pay 10.8% 7.9% 34.2% 32.8% 13.6 4.5 17.8 19.7 14.0 17.5 2.8 3.6 1.4 2.1 11.3 3.9 2021 2022 2021 2022 2021 2022 Software reported an increase both in Revenue and EBITDA with a slight reduction in margin, due to an increase in the incidence of corporate costs and of the cost of services. The pro forma brings the marginality of Software up to € 45 M and an EBITDA margin of 27.2% on adj. Revenue. Care profitability shrank because of higher corporate costs impacting the SBA. Automation reported an increase in profitability. ICT enhanced its profit margin achieving full operational efficiency. Pay the inflationary effect on raw materials has led to a slight decrease in profit margin. Increased corporate expenses have had an impact on the EBITDA margin: extraordinary operations (expenses for M&A), higher costs for Security and IT, besides an impact of inflation on some costs. EBITDA Margin Revenue (Adj. for SW & Care) EBITDA#12Financial Highlights FY22 CERVED Rating A3.1 equivalent to A- S&P, A3 Moody's, A-1 Fitch € M Fixed assets Fixed assets FY22 FY21 investments (Tesi and VC "service tech sub-fund" included) investments in new innovative products and solutions 259.7 166.8 Net Working Capital (+) trade receivables € 43.4 M Net working capital 177.6 140.2 (+) inventories € 5.1 M (-) trade payables € 9.9 M Other operating assets/(liabilities) (45.8) (45.3) Shareholders' equity NET INVESTED CAPITAL Shareholders' equity 391.5 261.7 (-) dividends € 9.2 M (+) capital increase € 137.5 M 248.9 106.2 Net Financial Indebtedness 142.6 155.4 Net Financial Indebtedness reflects the operating flows, the investments of the Group and the equity movements (see next slide) TOTAL SOURCES 391.5 261.7 12#13● NFI Bridge 155.4 NFL 31/12/2021 (54.2) 30.9 o/w R&D € 14.2 M 15.5 10.8 7.8 9.8 + € 137.5 M Capital Increase net of costs - € 9.2 M Dividend TESI, IOP, ESAKON, net of cash acquired Venture Capital cash out for extraordinary operations Non-cash adjustments and recovery of payables for extraordinary operations (NFI-neutral) (128.3) 103.1 (8.3) 142.6 EBITDA NWC Tax & other mgmt. Capex (intang.) Capex (tang.) Net Interest Dividend / Cap. Increase Assets/Liab. Investments (M&A and extraord. operations) Change in Financial Assets/Liab. NFI 31/12/2022 13#14• Competitive Ranking - Italian Top Players Software Company Focus on HC Addressable market Dedalus HEALTHCARE SYSTEMS GROUP GPi ENGINEERING Through dedicated healthcare ca. € 1 bn 5 Top Players 35%¹ BPO ATC (Business Process Outsourcing) Company Gpi cns SMATERALE SERVICE aCapo Gpi ~50% division santer Reply exprivia Reply's subsidiary Through dedicated healthcare division ASSO LAAUSANDO GPI has a potential reach of 29 million citizens Sources: Accenture Notes: (1) The remaining 65% of the market includes Inhouse companies of the Italian regions and therefore is not addressable 14#15Fast Growing Markets of IT Software & Services in Health Care Potential effects of NRRP on the Italian digital healthcare market World ($ B) +12.7% Italy ($ B) 147 CAGR 22-25 +11.7% 131 116 103 1.7 1.5 1.4 1.2 2022 2023 2024 2025 2022 2023 2024 2025 Sources: Gartner Market Statistics € 5.8 bn 2021-2026 Funds dedicated to the digitalization of healthcare of which: € 3.6 bn for ICT € 1.0 bn for telemedicine € 1.2 bn for medical equipment € 0.07 bn for cybersecurity Gpi#16Strategic Pillars of the Business Plan 2022 - 2024 Values, Mission and Vision 1. Global 2. Leader 3. Interconnected and Secure B. Structure, Processes and Governance A. Sustainability, Impact, Brand and Reputation 4. Innovative Gpi 16#17• Strategic Pillars of the Business Plan 2022 - 2024 Sustainability, A Impact, Brand and Reputation • Develop and implement a sustainability plan with particular reference to the social component, in the field of health care, measuring potential impacts through defined metrics (SDG n 3 Good Health UN 2030 Agenda) Positioning GPI as a sustainable, ethical, technological and innovative partner at national and international level Capitalize on corporate brand to strengthen GPI's reputation as a secure and reliable partner GOOD HEALTH AND WELL-BEING W❤ Sustainability of the healthcare system Safety, health and well- being of people Core Structure, B Processes and Governance • INDUSTRY, INNOVATION AND INFRASTRUCTURE 4 QUALITY EDUCATION Procurement of qualified resources and enhancement of professionalism . Attention for local community 7 AFFORDABLE AND CLEAN ENERGY Energy efficiency and decarbonization • Delivery capability and business continuity Cybersecurity 8 DECENT WORK AND ECONOMIC GROWTH • Diversity and inclusion Innovation and strategic • partnerships Leadership and corporate culture Respect for ethical values and rules Priority Align the organisational structure in a way that is consistent with new market needs, including from the point of view of key competences Optimize the internal processes to make the company more agile and faster to adapt to changes in the market Develop a clear governance appropriate for inorganic growth 17#18Significant M&A Track Record ACQUIRED Spid (16%) Selfin (health) INCREASED HOLDING IN Sysline (70%) ESTABLISHED CRG MADO ACQUIRED Sintac (23%) CONSOLIDATED Selfin.it (100%) S.O.I.V.E. (100%) Hit (100%) Skyline (100%) ESTABLISHED GCS (51%) Ziti Tecnologia Ltda GPI Africa Austral Sa ACQUIRED Evolvo GPI (80%) Lombardia Contact (100%) GPI Technology (80%) GPI Chile (51%) Saluris (19%) ACQUIRED Saluris (60%) DO.MI.NO (70%) Nuova Sigma (100%) EDP Sistemi (100%) Net Medica (100%) Info Line (100%) Xidera (60%) Hemasoft (60%) Hemasoft America (60%) BIM Italia (70%) CONSOLIDATED CRG (100%) SPID (100%) GSI (100%) Evolvo GPI (100%) GPI do Brasil (100%) JOINTLY HELD Safeaty (19,9%) UpSens (5,4%) ACQUIRED Accura (80%) Business Process Enginering (71,6%) Guyot Walser Informatique (60%) CONSOLIDATED Uni IT ESTABLISHED Healthech PeopleNav ACQUIRED Medinfo (100%) GTT Tunis (100%) INCREASED HOLDING IN Hemasoft (100%) Riedl (100%) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 ACQUIRED & CONSOLIDATED Logicast (100%) Larca (100%) Argentea (100%) ACQUIRED Sysline(65%) ESTABLISHED Selfin.it ACQUIRED GCS (health) INCREASED HOLDING IN Spid (78%) Sysline (90%) Hit (90%) ESTABLISHED Consorzio SST (8%) Argentea (80%) Neocogita (24%) ACQUIRED Riedl (51%) Sferacarta GPI (51%) INCREASED HOLDING IN GSI (51%) GCS (75%) Sintac (51%) Spid (80,8%) ESTABLISHED GPI Middle East (Abu Dhabi) ACQUIRED GPI Technology (100%) Sferacarta GPI (100%) GCS (100%) Gbim (70%) Innovazione e Tecnologie (health) Insiel Mercato (55%) PCS (100%) ESTABLISHED Groowe Tech ACQUIRED Paros (100%) Unit IT (100%) Erre Effe (100%) INCREASED HOLDING IN Insiel Mercato (100%) Neocare (100%) Groowe Tech (100%) ESTABLISHED Argentea (Poland) (65,60%) Informatica Group (Russia) (100%) Cliniche della Basilicata (67%) CONSOLIDATED Edp Erre Effe Informatica Groowe Tech Neocare Insiel Mercato Infoline Net Medica Nuova Sigma Paros ACQUIRED Consis (assets) Oslo Italia (65%) Umana Medical Technologies (58%) Haemonetics (assets) INCREASED HOLDING IN Business Process Engineering (100%) TBS IT (100%) BIM Italia (100%) CONSOLIDATED Business Process Engineering Sintac TBS IT ACQUIRED IOP (51%) Esakon (75%) TESI Group (65%) INCREASED HOLDING IN Oslo Italia (100%) CONSOLIDATED Accura GBIM PeopleNav 18#19M&A Guidelines Become a Major European Player GPI will keep on investing in software companies both abroad and in Italy to expand its product portfolio حمود Focus on international software companies mainly operating in: Blood Management LIS with an EBITDA margin > 16% Product Portfolio Evolution: Software Services Territories 19#20● Targets 2024 € M REVENUE 2022 pro forma EBITDA Margin Organic 386 + 8.7% Organic & inorganic + 18.1% 16% 2024 20 20 > 500 Organic > 420 mn CAGR 2021-2024 > 8.5% Organic & inorganic > 500 mn CAGR 2021-2024 > 15% > 17%#21Appendix Featured Products#22A New Architecture of Integrated Solutions Structured Interaction with Patients IoT - Sensors - Dedicated Apps Das Fee Per Second 14 Technologies for Patients Dataflow Monitoring Intelligent Cloud Direct Interaction with Patients Monitoring Dashboard Threshold Values and Alert Proactivity and Care Management Enabling Technologies Disease Management 22 22#23PHOEMA FEATURES D GOOD Remote consulting by audio-video conference system Imaging (access, sharing and diagnostic assistance) Telemonitoring (24h/7) with advanced Multiparametric medical devices b p p p p k Remote diagnosis 23#24Gpi Blood Global Presence, Local support Blood Managment System Software Gpi ranks 5th on the global market of Blood transfusion sw 90 France 80 70 USA 60 USA 50 USA 40 30 20 10 0 GPI Group Roper Industries Mediware Italy USA USA Australia USA Germany USA China China China USA Integrated Medical Systems SCC Soft Computer Compugroup Blood Bank Computer Systems Zhongde Gaoye Jinfeng Yitong Source: QY Research Defeng IT Synergistics Mak-System Haemonetics Cerner Corporation McKesson 24 24#25Blood Banks Tissue Banks Human Milk Banks Gpi Blood Global Presence, Local support Cells Therapy Cord Blood Banks HLA E DONORS TISSUE BANKS - Q 76 DATA ANALYTICS TRASFUSIONS BI DATA ANALYTICS HEALTH BI DATA ANALYTICS HMB BI HMB HEALTH DATA ANALYTICS D D MIDDLEWARE MIDDLEWARE CELLS THERAPY BI MIDDLEWARE CORD BLOOD HLA-Test HLA Laboratory LIS DATA ANALYTICS HEALTH BI MIDDLEWARE DATA ANALYTICS HEALTH BI DATA ANALYTICS BI 25 MIDDLEWARE MIDDLEWARE MIDDLEWARE (INSTRUMENTS INTERFACES) 25#26Promotion & Recruiting Donors and Donation registration Validation test Processing Gpi4 Blood Global Presence, Local support Labeling & Quality Control Inventory & Distribution Haemocomponents requests Lab results collection H ABO/ Rh typing ABS + Phenotype Blood Donor Centers "Vein-to-Vein" process Cross Matching & eCross Matching Haemocomponents administration Hospitals Bedside traceability Adverse events registration 26#27Gpi A New Concept in Pharmacy Automation RIEDL PHASYS ⚫ The fastest system on the market: 5 m/sec Wireless: no cable ● Manages products of various shapes ● Multi Picking • Fully integrated and tailored Positive air pressure ' No more dust ' ●RIEDL 22 27#28• Forward Thinking: Two Main Strategic Trajectories 1 Models and technologies for the continuity of care Population Health Management Detect the demand for care, Virtual Care Regression models & clustering (AI) • • Patient Pathway (PDTA) Diagnostic Imaging • Telemedicine IoT and Augmented Telemed Audio Video Communication Telerehabilitation Patient Portal Build and keep connections with patients Artificial 2 Intelligence Big Data Big Data, Regression Algorithms, Pattern Recognition, Prediction Models Deep Learning Recognition Algorithms for images and voice NLP & Semantics Natural Language Processing and Semantic Inference with ontological foundations Increase the Group's offering in a functional and distinctive sense 28#29Investment Quick Take Leadership and Uniqueness Growth and Visibility GPI IN THE STOCK MARKET ISIN: IT0005221517 Ticker: GPI:IM Technology and Service Price 18 April 2023 € Ordinary Shares Capitalisation € M 12.50 28,906,881 361 Evolution of market/NRRP Shareholder structure based on information known by Gpi on May 4th, 2023 ■FM (Manzana Family) ■CDP Equity 34.5% 46.7% ■Treasury Shares 0.3% ■ Market 18.4% Voting rights ■FM (Manzana Family) 25.7% Analyst Banca Akros Target Price CDP Equity Reccomendation 14 April 2023 € 17.50 ■ Market Buy 60.7% 13.6% Intermonte SIM 19 April 2023 € 17.20 Outperform Midcap | Tp Icap 17 April 2023 € 17.30 Buy Gpi 29#30IR Contact details Gpi Via Ragazzi del '99, 13 - 38123 Trento T +39 0461 381515 [email protected] Fabrizio Redavid C. +39 335 1035499 [email protected] Lorenzo Giollo C. +39 340 8223333 [email protected] 30#31Disclaimer The material in this presentation was prepared by GPI S.p.A. ("GPI" or the "Company") without any form of independent verification; it is general, basic information about the current business of GPI as at the date of this presentation. This information is supplied in summary form and is not complete. This presentation is provided for information only and is not an offer or solicitation of an offer of purchase or sale of securities, nor shall there be any sale or purchase of securities in any jurisdiction in which such an offer, solicitation or sale should be illegal before the registration or qualification in accordance with the laws on securities of that jurisdiction. It is intended exclusively by way of a presentation to investors and is provided for information only. This presentation does not contain all information that may be relevant to an investor. The information contained in this presentation, including the forecast financial information, must not be considered as advice or recommendations to investors or potential investors in connection with the holding, purchase or sale of securities or other products or financial instruments and does not take into account any specific investment targets nor the financial position. Before acting, it is important to consider the adequacy of information in relation to such subjects and, in particular, independent financial advice should be taken. All securities and product transactions or financial instruments entail risks, which include, amongst others, the risk of adverse or unforeseen market, financial or political developments and, in international transactions, the foreign exchange risk. 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This presentation is only distributed to and intended for: (A) persons in the European Economic Area Member States (excluding the United Kingdom), who are classed as "qualified investors" under Article 2, paragraph 1, letter e) of Directive 2003/71/EC (as amended and complete with any implementing measures applicable in each Member State); (B) in the United Kingdom, professional investment qualified investors coming under Article 19 (5) of the 2005 Order (financial promotion), the Order of Financial Services and markets and/or companies with high shareholders' equity and other persons to whom it can be lawfully disclosed, pursuant to Article 49, paragraph 2, letters a) to d) of the Order; and (C) other persons to whom this presentation can be legally distributed and disclosed in accordance with applicable laws (all those pursuant to points (A) to (C) above, indicated as "relevant persons"). The information contained in this presentation may include forecasts. Although the Company believes it has a reasonable basis on which to make the forecasts given in this presentation, GPI warns that forecasts are no guarantee of future performance and that the effective operating results, financial conditions and conditions of liquidity and development of the segment in which GPI operates may differ considerably from those effectively achieved or suggested by the declarations given in this presentation or made by the GPI management team. Past performance is also not a reliable indication of future performance. GPI makes no promise to update or publicly review the forecasts, even if new information is revealed or for any other reason. The information and opinions given in this presentation or in the declarations made by the GPI management team are given as at the date of this presentation or any other date, if indicated, and are subject to change without notice. Do not rely on the information given in this presentation for any purpose. No express or implicit declaration or guarantee is given by GPI, its subsidiaries or the respective consultants, functionaries, employees and agents, as regards the accuracy of information or opinions or for any loss as may derive directly or indirectly from any use of this presentation or its contents. This presentation is not intended for distribution or use by any person or entity that is a citizen or resident of a place, country or other jurisdiction in which such distribution, publication, availability or use may be in conflict with laws or regulations or which would require any registration or licence within such jurisdiction. Gpi 31