FTSE COMPANY REPORT Share price analysis relative to sector and index performance

Computacenter CCC Software and Computer Services — GBP 25.8 at close 18 June 2021

Absolute Relative to FTSE UK All-Share Sector Relative to FTSE UK All-Share Index PERFORMANCE 18-Jun-2021 18-Jun-2021 18-Jun-2021

28 160 170 1D WTD MTD YTD Absolute -1.9 -1.8 -3.9 5.4 26 160 150 Rel.Sector -1.4 -2.5 -6.7 -6.4 Rel.Market -0.2 -0.2 -3.6 -3.3 150 24 140 140 VALUATION 22 130 130 Trailing

20

Relative Price Relative Price Relative 120 120 PE 19.9

Absolute Price (local (local currency) AbsolutePrice 18 110 EV/EBITDA 10.7 110 PB 4.9 16 100 PCF 13.3 14 100 90 Div Yield 1.9 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Price/Sales 0.6 Absolute Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Relative Price 4-wk mov.avg. 13-wk mov.avg. Net Debt/Equity 0.4

100 90 100 Div Payout 37.6 90 80 90 ROE 27.4

80 70 80

Share Index) Share

Share Sector) Share - 70 - 70 60 DESCRIPTION 60 60 50 50 50 The Company is a leading independent provider of IT 40 RSI RSI (Absolute) 40 40 infrastructure services, enabling users and their business.

30 30 30

20 20 20

RSI (Relative to FTSE UKFTSE All to RSI (Relative RSI (Relative to FTSE UKFTSE All to RSI (Relative 10 10 10 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021

Past performance is no guarantee of future results. Please see the final page for important legal disclosures. 1 of 4 FTSE COMPANY REPORT: 18 June 2021

Valuation Metrics

Price to Earnings (PE) EV to EBITDA Price to Book (PB)

31-May-2021 31-May-2021 31-May-2021 30 14 6 13 5.5 25 12 5 +1SD 11 +1SD 4.5 20 +1SD Avg 10 4 15 9 Avg 3.5 -1SD Avg 8 3 10 -1SD 7 2.5 -1SD 5 6 2 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020

Aveva Group 120.0 Just Eat Takeaway.com 100.0 25.0 Future 76.9 Aveva Group 100.0 Auto Trader Group 25.0 NCC Group 67.6 57.2 25.0 Bytes Technology Group 60.1 Bytes Technology Group 39.9 Group 19.8 Aptitude Software Group Future 48.4 Softcat 36.6 8.9 Computacenter 19.9 Computacenter 4.9 Software and Computer Services 19.0 International -0.8 NCC Group 3.8 Moneysupermarket.com Group Funding Circle Holdings -5.4 13.5 Software and Computer Services 2.9 Kin and Carta -10.3 Alfa Financial Software Holdings 13.0 Funding Circle Holdings 2.7 Ascential -10.8 Computacenter 10.7 Aveva Group 1.9 Software and Computer Services -25.5 Micro Focus International 5.5 Just Eat Takeaway.com 1.3 Just Eat Takeaway.com -72.9 Funding Circle Holdings 0.0 Micro Focus International 0.7 -100 -50 0 50 100 150 0 20 40 60 80 100 120 0 5 10 15 20 25 30

Price to Cash Flow (PCF) Dividend Yield % Price to Sales (PS)

31-May-2021 31-May-2021 31-May-2021 22 3.5 0.6

20 3 0.55 +1SD 18 2.5 0.5 +1SD +1SD 16 2 Avg 0.45

14 1.5 0.4 Avg -1SD Avg 12 1 0.35

10 -1SD 0.5 0.3 -1SD

8 0 0.25 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020

Aveva Group 80.0 Moneysupermarket.com Group 4.3 Auto Trader Group 14.7 Just Eat Takeaway.com 62.2 2.6 Aveva Group 12.2 Softcat 56.7 Avast 2.5 Future 10.0 Future 41.9 Micro Focus International 2.2 Kainos Group 7.4 Bytes Technology Group 38.4 Computacenter 1.9 Avast 7.0 Software and Computer Services 22.0 Software and Computer Services 1.2 Software and Computer Services 3.4 Avast 14.6 Future 0.0 NCC Group 3.1 Alfa Financial Software Holdings 14.2 Kin and Carta 0.0 Bytes Technology Group 3.0 Computacenter 13.3 Just Eat Takeaway.com 0.0 Kin and Carta 2.4 Micro Focus International 3.3 Funding Circle Holdings 0.0 Micro Focus International 0.7 Ascential -100.0 Ascential 0.0 Computacenter 0.6 -120 -100 -80 -60 -40 -20 0 20 40 60 80 100 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 0 2 4 6 8 10 12 14 16 Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

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Valuation Metrics

Net Debt to Equity Dividend Payout (DP) Return on Equity (RoE)

31-May-2021 31-May-2021 31-May-2021 0.5 45 28 40 26 0.4 35 Avg +1SD 24 +1SD 0.3 30 25 -1SD 22 0.2 20 Avg 20 Avg 15 0.1 18 10

0 -1SD 5 16 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020 Jun-2016 Jun-2017 Jun-2018 Jun-2019 Jun-2020

Funding Circle Holdings 2.4 Aveva Group 100.0 Auto Trader Group 50.0 Auto Trader Group 2.3 NCC Group 100.0 Softcat 50.0 Micro Focus International 1.5 Avast 97.1 Bytes Technology Group 50.0 Kin and Carta 1.3 Moneysupermarket.com Group 90.6 Kainos Group 50.0 Ascential 0.9 Softcat 69.1 Moneysupermarket.com Group 34.0 Software and Computer Services 0.5 Computacenter 37.6 Computacenter 27.4 Computacenter 0.4 Just Eat Takeaway.com 0.0 Just Eat Takeaway.com -3.1 Bytes Technology Group 0.1 Funding Circle Holdings 0.0 Software and Computer Services -13.4 Softcat 0.1 Bytes Technology Group 0.0 Ascential -30.0 Just Eat Takeaway.com 0.1 Ascential 0.0 Funding Circle Holdings -40.4 Kainos Group 0.0 Micro Focus International 0.0 Kin and Carta -43.7 Aptitude Software Group 0.0 Software and Computer Services 0.0 Micro Focus International -50.0 0 0.5 1 1.5 2 2.5 3 0 20 40 60 80 100 120 -60 -40 -20 0 20 40 60

ROE vs. PB — sector Du Pont Analysis

30 4.5 30

4 25 25 AUTOBYITSCT 3.5

3 20 20 KNOS 2.5

15 PB 15 2

1.5 10 10 FUTR 1 APTD MONY 5 ALFA KCT AVST 0.5 5 CCC ASCL NCC SGE FCHSoftware and Com 0 0 AVV JET 2017 2018 2019 2020 2021 MCRO 0 0 10 20 30 40 50 60 Net Margin Asset Turnover Gearing ROE (rhs) ‖ ROE Note: bar chart reflects the top and bottom five current values for the valuation ratio in question for FTSE All Shares stocks in the same sector as the stock concerned. All valuation metrics are trailing.

3 of 4 FTSE COMPANY REPORT: Computacenter 18 June 2021

Brief description Brief description

Price to Earnings Price to Earnings (PE) is price over earnings per share. Earnings are based on the latest Gearing Gearing is Total Assets divided by Common Equity. Total Assets and Common Equity are (PE) available fiscal year earnings. each averaged over two years, that is, t and (t-1). Price to Sales (PS) Price to Sales (PS) is price divided by sales per share. It is based on sales from continuing Asset Turnover Asset turnover is Sales divided by Total Assets. Total Assets is averaged over two years, operations for the fiscal year. that is, t and (t-1). Price to Book (PB) Price to Book (PB) is price at the indicated date divided by common equity per share. Dupont Breakdown Return on Equity (RoE) = Net Margin * Gearing * Asset Turnover Common/ordinary equity is generally as reported at the most recent fiscal year-end but is Analysis adjusted to exclude minority interest, preferred stock and selected items as appropriate. RoE vs PB Plot of RoE versus PB at last month end for all FTSE UK All Share stocks in the sector Price to Cash Flow Price to Cash Flow (PCF) is price at the indicated date divided by cash flow per share. relative to the stock in question. Data may be limited to the stock in question if there are (PCF) currently no stocks in the corresponding FTSE UK All Share sector. Net Debt Equity Net Debt Equity is Net Debt as a percentage of common equity. Not calculated if Absolute Absolute graphs reflect performance for the stock in question for up to 366 days adjusted denominator (common equity) is negative for intervening corporate actions. EV to EBITDA EV to EBITDA is Enterprise Value divided by EBITDA (Earnings before Interest and Taxes, Relative Relative charts reflect the performance for the stock in question relative to the depreciation and amortisation). EV is full company Market Capitalisation at the data date corresponding sector of the FTSE All Share Index for up to 366 days, rebased to the start plus last annual net debt and Preferred Stock. Net Debt is total financial debt less cash date. Note that the stock itself may not be a FTSE All share constituent. Relative Chart and short-term investments. EBITDA is operating income plus depreciation and may be null if there are no stocks in the corresponding FTSE UK All Share sector. amortisation. RSI Relative Strength Index. Calculated as 100 minus (100 divided by (1+ratio of positive Dividend Yield % Dividend Yield reflects the dividend declared per share and/or paid for the security in versus negative time weighted returns)). Reflects 14 day average gains/losses question for the most recent fiscal year, divided by the share price. Valuation History Outlier valuation data is not shown to scale as these would distort the chart. Instead, ∥ Return on Equity Return on Equity is net income over average common equity. Not calculated if Charts denotes valuation data which falls outside display truncation limits. (RoE) denominator (average common equity) is negative Top/Bottom Reflect data for up to five top and five bottom performers for the valuation metric in Dividend Payout Total dividends divided by Net Income expressed as a percentage. Valuation Bar question. Note data may be limited to the stock in question if there are currently no Charts stocks in the corresponding FTSE UK All Share sector. Net Margin Net Margin is Net Income divided by sales.

Computacenter 18 June 2021 For further information visit www.ftse.com, email [email protected] or call your local FTSE office:

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