Group’s Results FY2019

Warsaw, March 24, 2020 Dynamic growth and improved results of the Asseco Group

• Dynamic organic growth and through acquisitions:

• revenues up by 14.4% to PLN 10 667 million

• operating profit up by 22.5% to PLN 976 million (non-IFRS profit up by 14.9% to PLN 1 204 million) • Strong business diversification (geographical, sectoral, product)

• 89% of revenues from foreign markets

• 38% of revenues from banking and finance sector, 38% from general business sector, 24% from public institutions

• 81% of revenues from sales of proprietary software and services • Increase in employment to over 26,800 people (23,300 in production departments) • Recommendation for payment of dividend of PLN 3.01 per share

3 PLN 2.2 billion in dividends paid

The Management Board recommends the payment of a dividend in the amount of PLN 250 million, i.e. PLN 3.01 per share.

250 250 250 255 250 241 216 3.07 3.01 3.01 3.01 3.01 200 DY: 6.0% ** 2.90 DY: 5.4% DY: 5.4% DY: 6.7% DY: 5.7% DY: 4.8% 170 2.60 2.41 DY: 5.9% 140 DY: 5.1% 2.19 106 DY: 4.6% 1.80 0.55 70 DY: 3.5% DY: 0.9% 1.47 DY: 2.6% 33 1.03 DY: 1.8%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019* (in mPLN)

* Management Board's recommendation regarding a dividend from the profit in 2019. ** Dividend yield as at March 23, 2020. 4 1.Summary of the Group's operations

5 Consolidated financial highlights for 2019

PLN 10 667 m PLN 8 648 m Sales revenues Proprietary software and services +14% +15%

PLN 1 612 m PLN 1 204 m EBITDA EBIT non-IFRS +28% +15%

PLN 366 m Net profit non-IFRS -1%

6 Revenue structure – strong diversification into sectors

mPLN

24% 2 541 1 838 2 086 38% 1 742 1 738 4 062 Revenues 3 409 3 693 10 667 2 688 3 062 mPLN 4 065 2 829 3 128 3 451 3 549

38% 2015 2016 2017 PF* 2018 2019

General Business Banking and finance Public institutions

* Data 2017 PF, i.e. including Formula Group revenues for August and September 2017. 7 Revenue structure – strong diversification into geographical regions

mPLN

28% 2 929 2 233 2 592 2 111 Revenues 1 993 869 10 667 5 403 6 554 61% mPLN 3 677 4 399 4 293 11% 1 626 1 481 1 346 1 359 1 212 2015 2016 2017 PF* 2018 2019

Asseco Segment Segment Formula Systems Segment VIII-IX 2017 Asseco International Segment

Data for 2014-2017 after taking into account changes in the structure of the Group. Data do not include consolidation adjustments. *Data 2017 PF, i.e. including Formula Group revenues for August and September 2017. 8 . Increase in the Group’s non-IFRS operating profit

mPLN

362 285 30% 230 225 258 75 523 673 1 204 357 423 56% mPLN 317 257 227 171 239 170

14% 2015 2016 2017 PF* 2018 2019

Asseco Poland Segment Formula Systems Segment Formula Systems Segment VIII-IX 2017 Asseco International Segment

Data for 2014-2017 after taking into account changes in the structure of the Group. Data do not include consolidation adjustments. * Data 2017 PF, i.e. including Formula Group revenues for August and September 2017. 9 Asseco Group in 2019 – geographical regions

Sales revenues* Asseco Poland segment

• High result base in 2018, abandonment of infrastructure sales, completion of Asseco Poland significant projects in the telecommunications sector -11% Segment • Higher revenues in healthcare - new contracts, growing market share 1 212 Formula Systems Formula Systems segment 10 677 +21% Segment • Consistent increase in sales both in and on foreign markets mPLN 6 554 • Further development through acquisitions (10 new companies) Asseco International 2 929 +14% Asseco International segment +13% Segment • Development of sales of ERP systems on international markets • Dynamic organic growth and through acquisitions in payments – Payten • Strengthening the position of Asseco Central Europe in the public sector

*In addition: consolidation adjustment resulting from transactions between sectors : PLN -28.7 million 10 Banking and Finance Sector

Revenues (in mPLN) 2019 2018 Change

Formula Systems Segment 2 637.7 2 333.6 +13% 3 693 4 062 3 409 3 062 Asseco International Segment 996.3 901.7 +10% 2 688 Asseco Poland Segment 443.5 473.9 -6% Asseco Group** 4 061.6 3 693.2 +10%

2015 2016 2017* 2018 2019

Revenues (in mPLN) Formula Systems Segment VIII-IX 2017

• Sapiens: increase in sales on international markets and through acquisitions • ASEE: very good results in the banking sector (projects related to digital transformation and adaptation to regulatory requirements), further development in the area of payments - Payten (acquisitions, expansion of the offer, expansion on international markets) • Poland: impact of high base in 2018, stable source of revenues from long-term maintenance contracts (approx. 40% of revenues)

*Data including Formula Group revenues for August and September 2017. ** Data including consolidation adjustment. 11 General Business Sector

Revenues (in mPLN) 2019 2018 Change

Formula Systems Segment 2 530.6 2 085.1 +21% 4 065 3 549 3 451 Asseco International Segment 1 265.8 1 136.6 +11% 2 829 3 128 Asseco Poland Segment 277.9 334.7 -17% Asseco Group** 4 064.6 3 549.3 +15%

2015 2016 2017* 2018 2019

Revenues (in mPLN) Formula Systems Segment VIII-IX 2017

• Asseco International: significant increase in sales of ERP solutions • Poland: new contracts (PGNiG Obrót Detaliczny, PGE Dystrybucja, PGE Systemy), project completion for Orange and withdrawal from the agreement with Huawei

*Data including Formula Group revenues for August and September 2017. ** Data including consolidation adjustment. 12 Public Institutions Sector

Revenues (in mPLN) 2019 2018 Change

Formula Systems Segment 1 386.1 984.0 +41% 2 541 Asseco International Segment 667.3 553.9 +20% 1 838 2 086 1 738 1 742 Asseco Poland Segment 490.9 550.2 -11% Asseco Group** 2 541.2 2 086.1 +22%

2015 2016 2017* 2018 2019

Revenues (in mPLN) Formula Systems Segment VIII-IX 2017

• Matrix IT: higher order value, continuation of development strategy by acquisitions • ACE: new contracts with public sector institutions in the and (including the Ministry of the Interior in the Czech Republic and the Slovak Ministry of Labour and Social Policy) • Poland: new long-term agreements with public institutions (including the National Health Fund (NFZ), the Social Insurance Institution (ZUS), the Agricultural Social Insurance Fund (KRUS) and the Agency for Restructuring and Modernization of Agriculture (ARiMR)). Strengthening the position on the health market - further implementations of eServices in hospitals, clinics and medical practices; significant share of maintenance contracts

*Data including Formula Group revenues for August and September 2017. 13 ** Data including consolidation adjustment. Group’s development – acquisitions in 2019

Acquisitions on the American market: Acquisitions on the Israeli market:

Medatech provides services of development, implementation and NetEffects specializes in the recruitment of qualified maintenance of ERP solutions, mainly for production and commercial IT specialists on the US market. companies on the Israeli, American and British markets. (Magic Software) (Matrix IT)

Dana Engineering provides project management services, involving in (Matrix IT) particular large, complex infrastructure projects on the Israeli market. PowWow has a low-code SmartUX platform, which enables the transfer of business processes via multi-platform web and mobile applications. TechTop Marketing is a leading Israeli supplier of professional sound (Magic Software) and lighting systems. (Matrix IT)

OnTarget specializes in the outsourcing of software Unique Software Industries provides integrated solutions production services. in the area of wages. (Magic Software) (Michpal)

BA Microwaves is involved, among other things, Acquisitions on the Polish market: in the development of multidisciplinary products (Magic Software) used through various types of communication links. ComCERT provides services in the field of cyber security. Among others, they include identifying threats and incidents in cyberspace and supporting customers in situations of threat or violation of their safety. (Asseco Poland)

14 Group’s development – acquisitions in 2019

Acquisitions on other international markets:

Bassilichi CEE offers payment terminals and ATMs A company providing IT solutions for the energy sector. It is specialized as well as services in Serbia and Bosnia and Herzegovina. in the development of software in the cloud for electricity producers (ASEE) and sellers. (Asseco International)

Turkish company Mobven has increased ASEE competence Calculo, based in , is engaged in providing IT solutions for artificial in the field of mobile payments. intelligence and laboratory data analysis. (Sapiens) (ASEE)

Sonet companies operating on the Czech and Slovak markets TurboConsult is a producer of software for financial institutions are engaged in offering payment terminals and services. and supplies its products mainly to the Czech and Slovak markets.

(ASEE) (Asseco Central Europe)

Thanks to the purchase of Monri, ASEE has extended its offer with independent network of payment terminals – SinglePOS. (ASEE)

15 Development of Asseco’s competence areas Revenues in 2019

INTERNATIONAL COMPETENCE CENTERS Strong position in the area of Banking and Finance ERP 4.0 bnPLN 614 mPLN Asseco Enterprise Solutions Development in new areas Payments Cloud solutions 368 mPLN 496 mPLN Payten Cybersecurity 178 mPLN Insurance 1 252 mPLN Robotics Sapiens International 76 mPLN 16 Consolidated order backlog for 2020 vs. 2019

Sales revenues Proprietary software and services

6 240 7 601 6 792 5 724 +33% 1 970 Asseco International +23% 1 528 1 483 Segment 1 244

+20% +19% Formula Systems Segment 4 644 4 370 3 881 3 682

Asseco Poland Segment +13% +12% 876 987 798 894 2019 2020 2019 2020

Figures in mPLN; When calculating the backlog for 2020 according to the exchange rates used for calculating the backlog for 2019, the change amounts to: +18% in total revenues/+15% in proprietary software and services. Value of the backlog for 2020 as at March 17, 2020; value of the backlog for 2019 as at March 15, 2019. 17 Financial Information

18 Revenues and operating result of Asseco

Q4 Q4 2019 2018 Δ Δ 2019 2018

Revenues 10 667.4 9 328.6 +14% 2 938.1 2 650.3 +11%

Proprietary software and services 8 647.9 7,504.8 +15% 2,328.0 2,051.0 +14%

EBITDA 1 611.6 1 256.3 +28% 430.0 354.2 +21%

EBITDA margin 15.1% 13.5% +1.6 p.p. 14.6% 13.4% +1.3 p.p.

Operating profit non-IFRS* 1 204.4 1 048.5 +15% 318.9 301.7 +6%

Operating profit marginn non-IFRS 11.3% 11.2% +0.1 p.p. 10.9% 11.4% -0.5 p.p.

PPA & SBP* -228.2 -251.7 -9% -57.4 -63.6 -10%

Operating profit 976.2 796.8 +23% 261.5 238.1 +10%

Operating profit margin 9.2% 8.5% +0.6 p.p. 8.9% 9.0% -0.1 p.p.

Figures in mPLN. *Non-IFRS figures including adjustments for amortization charges on intangible assets recognized in purchase price allocation (PPA) as well as for the costs of share-based payment (SBP) transactions with employees. 19 Reconciliation of operating profit and net profit

Q4 Q4 2019 2018 Δ Δ 2019 2018 Operating profit non-IFRS* 1 204.4 1 048.5 +15% 318.9 301.7 +6% Operating profit 976.2 796.8 +23% 261.5 238.1 +10% Interest expense -75.3 -45.9 -17.7 -11.8 Foreign currency transactions 1.4 36.3 -0.8 10.0 Other -14.2 -13.1 -4.0 1.3 of which: gain/loss on transactions associated with company -8.7 -15.5 -4.4 -4.0 acquisitions gain/loss on transactions associated with company sales -0.7 9.0 -0.2 8.7 dividends paid to non-controlling shareholders -5.6 -6.0 0.0 -2.5 Pre-tax profit 888.1 774.0 +15% 239.0 237.5 +1% Income tax -191.0 -182.3 +5% -48.2 -56.9 -15% effective tax rate 21.5% 23.6% -2 p.p. 20.2% 24.0% -3.8 p.p. Share of profits/losses of associates 6.3 2.0 215% 4.5 3.8 18% Net profit 703.4 593.7 +18% 195.3 184.4 +6% Net profit attributable to shareholders of the parent company 366.2 371.4 -1% 96.0 101.7 -6% non-IFRS* Net profit attributable to shareholders of the parent company 322.4 333.3 -3% 84.2 98.0 -14% Figures in mPLN. *Non-IFRS figures including adjustments for: the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), 20 the costs and financial revenues resulting from the transactions of purchase and sales of companies (M&A) and tax effects associated with them. Financial results of regions and subsidiaries*

Net profit – contribution to Sales revenues Operating profit non-IFRS** Asseco Poland non-IFRS** 2019 2018 2019 2018 2019 2018 Asseco Poland Segment 1 212.3 1 358.8 169.8 238.5 127.5 171.6 Asseco Poland (without dividends) 805.5 893.3 120.0 192.5 99.8 154.8 Asseco Data Systems 275.8 350.6 30.1 31.5 20.8 23.8 Other companies 177.6 168.5 21.0 24.3 9.1 10.7 adjustments -46.6 -53.5 -1.3 -9.8 -2.2 -17.8 Formula Systems Segment 6 554.4 5 402.7 672.5 523.4 53.9 47.0 Matrix IT 3 889.6 3 185.0 300.6 242.9 24.6 21.7 Magic Software 1 251.7 1 030.2 164.9 141.1 11.8 11.3 Sapiens Int, 1 251.9 1 049.5 194.8 134.8 16.7 11.6 Other companies 184.1 155.9 12.3 4.7 0.8 2.4 adjustments -22.9 -17.9 0.0 0.0 0.0 0.0 Asseco International Segment 2 929.4 2 592.2 361.6 285.4 184.1 151.4 Central European Market 1 334.3 1 213.0 200.8 164.1 112.2 87.2 South Eastern European Market 890.1 775.3 112.1 82.9 46.4 37.1 Western European Market 696.8 600.2 59.9 49.1 36.3 35.8 Eastern European Market 6.9 6.6 1.2 0.2 1.4 1.6 Other companies 5.5 4.6 -11.1 -11.3 -11.0 -10.4 adjustments -4.2 -7.4 -1.3 0.4 -1.3 0.1 Consolidation adjustment -28.7 -25.1 0.5 1.1 0.8 1.5 Asseco Group 10 667.4 9 328.6 1 204.4 1 048.5 366.2 371.4

Figures in mPLN. *Results of segments in 2019 and 2018 according to the structure as at 31.12.2019. **Non-IFRS figures including adjustments for: the cost of amortization of intangible assets recognized under the combination settlement (PPA), the costs of share-based payment transactions with employees (SBP), the costs and financial revenues resulting from the transactions of purchase and sales of companies (M&A) and tax effects associated with them. 21 Cash generated

Asseco Formula Systems Asseco Poland Asseco Group International Segment Segment Segment

CFO 1 769.7 982.1 493.2 295.7

CAPEX*+leasing** -521.1 -246.0 -149.3 -126.8

Free cash flow*** 1 248.6 736.1 343.9 168.9

Cash conversion ratio**** 104% 109% 95% 99%

Figures in mPLN, figures for the Group include consolitadion adjustment. *Excluding investments in investment properties, less financing. ** Repayment of lease liabilities. *** CFO+CAPEX+leasing. *** Free cash flow / EBIT non-IFRS. 22 Stable liquidity position of the Asseco Group

As at 31.12.2019 Asseco Formula Asseco Poland Asseco Group International Elimination Systems Segment Segment Segment Cash 2 153.5 1 391.6 546.7 215.2 -

Interest liabilities (ST) (906.1) (732.3) (143.6) (31.6) 1.4 Loans and borrowings liabilities (ST) (689.4) (596.8) (92.6) - - Leasing (ST) (216.7) (135.5) (51.0) (31.6) 1.4

Net cash 1 247.4 659.3 403.1 183.6 1.4

Inventories + ST receivables – ST liabilities* 640.3 449.1 41.0 150.5 (0.3)

Net operating assets (ST) 1 887.7 1.108.4 444.1 334.1 1.1

Figures in mPLN.

* Inventories + short-term receivables + short-term prepayments – short-term liabilities excluding bank loans and finance lease liabilities.

23 Development prospects and action plan for 2020

24 Development prospects of the Asseco Group

1. Increasing efficiency and simplifying structure 2. Further development of competence areas

3. Continuing international expansion

25 Development prospects of Asseco Poland

1. Launching activities related to close cooperation with the Capital Group

2. Exports of Polish products and services

3. Implementation of major projects won in the area of public administration (NFZ, ZUS, KRUS, ARiMR)

26 Action plan for 2020 – the impact of the coronavirus pandemic

At the moment it is difficult to estimate the impact of the pandemic crisis on the economy, our customers and companies. Therefore, we are taking preventive measures which secure the functioning of our Group.

1. Starting a business continuity mode and ensuring the safety of employees and customers

2. Execution of maintenance contracts and contracted new projects – ensuring customer service.

3. Preparing the Group for further action during and after the pandemic

27 Legal disclaimer

The contents of this presentation are copyright protected and constitute proprietary information. All texts, graphics, photographs, sound, animations and videos, as well as their layout in the presentation are protected under the Act on copyright and related rights as well as by other applicable regulations. Unauthorized use of any materials contained in this presentation may constitute an infringement of copyright, trademark or other laws. Materials available in this presentation cannot be modified, reproduced, disclosed or performed in public, distributed or used for other public or commercial purposes, unless it is expressly permitted in writing by Asseco Poland S.A. Copying for commercial use, distribution, modification or acquisition of the contents of this presentation by third parties is strictly prohibited. This presentation may include references to product and service offerings of third parties. The terms and conditions for the use of third-party products and services are defined by such third parties. Asseco Poland S.A. will in no way be responsible or liable for the conditions or consequences of using such third-party products and services. The data and information contained herein constitute general information only. The name and logo graphic of Asseco Poland S.A. are registered trademarks. Any use of these trademarks shall require prior express consent of Asseco Poland S.A.

2020 © Asseco Poland S.A. 28 Technology for business Solutions for people.

Asseco Group Asseco Poland www.asseco.com www.asseco.pl

@grupa_asseco @asseco_pl linkedin.com/company/asseco-group linkedin.com/company/asseco-poland youtube.com/user/AssecoPolandSA IR contact: Joanna Paczkowska-Tatomir facebook.com/AssecoPolandKariera/ [email protected] +48 667 662 161

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