S2P Case Study

Business mix evolution Software and payments revenues are recurring or re-occurring in nature. Adjusted revenue 2020A 81% 20% 49% 31% -- - 85% Adjusted revenue 2023E 15% 23% 62% -- ■Software ■ Payments Recurring or re-occurring revenue Advisory services ■Software Payments Advisory services Recurring or re-occurring revenue corcentric Source: Management reporting 30 30

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