This content is classified as Internal
Title
1H26 Results Presentation July 29th, 2026
This content is classified as Internal 2
Disclaimer
▪This Presentation may contain written and oral “forward -looking statements”, which includes allstatements that donot relate solely tohistorical orcurrent facts and which are therefore inherently uncertain .Allforward -looking statements rely onanumber ofassumptions, expectations, projections and provisional data concerning future events and are subject toanumber ofuncertainties and other factors, many ofwhich areoutside thecontrol ofNexi Group (the “Company”) .There areavariety offactors that may cause actual results and performance tobematerially different from the explicit orimplicit contents ofany forward -looking statements and thus, such forward -looking statements arenot a reliable indicator offuture performance .The Company undertakes noobligation topublicly update orrevise anyforward -looking statements, whether asaresult ofnew information, future events orotherwise, except asmay berequired byapplicable law.The information and opinions contained inthis Presentation areprovided asatthedate hereof and are subject tochange without notice .Neither this Presentation noranypart ofitnorthefact ofitsdistribution may form thebasis of,orberelied onorinconnection with, anycontract orinvestment decision .
▪The information, statements and opinions contained inthis Presentation areforinformation purposes only and donotconstitute apublic offer under anyapplicable legislation oran offer tosellorsolicitation ofanoffer topurchase orsubscribe forsecurities orfinancial instruments orany advice orrecommendation with respect tosuch securities orother financial instruments .None ofthesecurities referred toherein have been, orwillbe,registered under theU.S.Securities Actof1933 ,asamended, orthesecurities laws ofanystate orother jurisdiction oftheUnited States orinAustralia, Canada orJapan oranyother jurisdiction where such anoffer orsolicitation would beunlawful (the “Other Countries”), and there willbenopublic offer ofany such securities intheUnited States .This Presentation does notconstitute orform apart ofany offer orsolicitation topurchase orsubscribe for securities intheUnited States ortheOther Countries .
▪Pursuant the consolidated law onfinancial intermediation of24February 1998 (article 154-bis, paragraph 2)Enrico Marchini, inhiscapacity asmanager responsible forthe preparation oftheCompany’s financial reports declares that theaccounting information contained inthis Presentation reflects Nexi Group’s documented results, financial accounts and accounting records .
▪Neither theCompany noranyofitsrepresentatives, directors oremployees accept anyliability whatsoever inconnection with this Presentation oranyofitscontents orinrelation to anyloss arising from itsuseorfrom anyreliance placed upon it.
3 31H26 Key highlights
Continued delivery
of growth
Creating value for our Shareholders1H26Revenues at+1.0%Y/Y 1H26Underlying growth at+5%Y/YStable EBITDA in1H26 Excess cash at~400 €Min1H26 Shaping Nexi for future profitable growthContinued progress on the clear roadmap toclose thevaluation gapStrategic initiatives well on track Organisation simplification underway Disciplined cost containment initiatives Strong cash position enabled ~1 €B debt paydown, ~350 €M dividend distributions and the completion of Banca Popolare di Sondrio deal in 1H26 2026 Guidance confirmed
4 4Nexi continues to support the Digital Euro program, strengthening its position as a critical European payments infrastructure
MEMBER OF THE
DIGITAL EURO
STAKEHO LDER GROUPSPARTICIPATION IN
ECB’S PUBLIC TENDERS
Selected for the development of the offline solution
DEVELOPMENT OF FIRST
DIGITAL EURO PROTOTYPE
Shaping the rules 2021 –TodayTesting the concept 4Q22 –1Q23Building the infrastructure
2025 –TodayPRIME CONTRACTOR SUBCONTRACTORPARTICIPATION IN
DIGITAL EURO PILOT PROJECT
Preparing for the launch 2026 –onwardsParticipant in the Digital Euro pilot project as Acquirer PSP Promoting a central Digital Euro banks processing infrastructure (“Nexi Digital Euro Hub”) to create relevant cost synergies across Banks
MARKET
ADVISORY
GROUPRULEBOOK
DEVELOPMENT
GROUP
EURO RETAIL
PAYMENT
BOARDITALIAN
PAYMENT
COMMITTEE
This content is classified as Internal Focus on 1H26 results
This content is classified as Internal 6 Note: (1) Excluding known Banks lost due to M&A mainly in Italy and other discontinuities (e.g. banks’ contracts renegotiations). Resilient underlying revenue growth and stable EBITDA in 1H26, with catch -up of costs phased into 2Q26 from 1Q26. Bank contracts phasing effects in line with expectations Net revenues (€M) EBITDA (€M) 906 9151,719 1,736
2Q25 2Q26 1H25 1H26+1.0%+1.0%
+4% Y/Y
underlying growth1+5% Y/Y
underlying growth1
483 473869 870 2Q25 2Q26 1H25 1H26-1.9%+0.1%50.6% 50.1%EBITDA margin
53.3% 51.7%
This content is classified as Internal 7 Merchant Solutions: as expected, gradually recovering through the semester given phasing of bank contracts effects. Underlying revenues at +3% Y/Y Note: (1) Contribution to 1H Group Revenues. (2) Excluding known Banks lost due to M&A mainly in Italy and other discontinuities (e.g. banks’ contracts renegotiations) . Merchant
Solutions
411 423
1H25 1H26+3.0%1H25 1H269,681 10,225+5.6%International
Schemes
International
Schemes+4.1%
+2.0%56%1Net revenues (€M) Managed Transactions (#M) Value of Managed Transactions (€B) 523 522984 976
2Q25 2Q26 1H25 1H26-0.2%-0.8%
+3% Y/Y
underlying growth2+3% Y/Y underlying growth2As expected, volumes and revenues impacted bybank contracts effects in 1H26.2Q26gradually recovering inspite ofmacro softness inGermany Continued volume growth, also supported byNexi Bancomat processing hub ramp -up, despite some headwinds
onconsumer spend
ISVs and direct channels progressing well .Positive contribution from VAS
upselling
This content is classified as Internal 8
Issuing
Solutions
Note: (1) Contribution to 1H Group Revenues. Issuing Solutions: growth supported by healthy volumes dynamics
448480
1H25 1H26+7.2%10,41411,305
1H25 1H26+8.6%+9.7%International
Schemes
+8.8%International
Schemes33%1Net revenues (€M) Managed Transactions (#M) Value of Managed Transactions (€B)
289 293555571
2Q25 2Q26 1H25 1H26+1.5%+3.0%Continued International schemes growth .National schemes sustained by Nexi Bancomat processing hub ramp -up
inItaly
Strong volume growth ,notwithstanding theinitial impacts from known bank lost inItaly due toM&A Continued success ofinternational debit inItaly and up-selling/cross -selling of VAS
This content is classified as Internal 9 Note: (1) Contribution to 1H Group Revenues. Digital
Banking
Solutions11%1Digital Banking Solutions: sustained revenue growth, thanks to volume growth and phasing of some initiatives Continued volume growth thanks to SEPA Clearing, Open banking, Network services and PagoPA bill payments
transactions
Positive contribution from phasing of some projects (e.g.Banks M&A projects) and new initiatives oDigital Euro offline project oZippay A2Asolution forIrish Banks oVerification -Of-Payee servicesNet revenues (€M)
94100181189
2Q25 2Q26 1H25 1H26+6.0%+4.5%
This content is classified as Internal 10 As expected, exceptional bank contracts effects mainly impacting MS revenues, partially offset by continued growth inISand
DBS.Performance improved
in2Q26Revenue performance across geographies in 1H26 impacted by specific effects but benefitting from Group diversification Note: (1) Contribution to 1H Group Revenues. 1H25 1H261,015 1,020+0.4%
294 289
1H25 1H26-1.7%
158169
1H25 1H26+7.2%
252 258
1H25 1H26+2.5%
Italy Nordics
DACH CSEE
Growth supported byvolume dynamics, thecompletion of previously mentioned client onboarding and ISVs strategic initiatives ,inspite of macro softness in Germany which affected 2Q26Performance affected by previously disclosed single client migration atthe end of 2025 in Issuing Solutions, while benefitting from VAS, E-commerce and
national schemes
Performance sustained by volume growth despite unfavorable volume mix and some price pressure in
E-commerce inPoland10%159%117%1
15%1
This content is classified as Internal 11 Disciplined cost execution in 1H26, notwithstanding volume and business growth, inflationary pressure and strategic investments Disciplined cost execution notwithstanding volume and business growth, inflationary pressure and strategic investments todrive future growth .Catch -up of operating expenses phased into 2Q26from 1Q26 Evolution reflecting inflationary pressure and investments inkey strategic areas started in
2025
Benefitting from costs efficiencies, also enabled byAIinitiatives, despite volume and business growth and inflationary pressureTotal Costs (€M)
Personnel costs
Operating costs
237 246464 464187 195386 402
2Q25 2Q26 1H25 1H26424442850 866
+4.2%+1.9%Personnel Costs
Operating Costs
+4.2%
+0.1%+4.4%
+4.1%
This content is classified as Internal 12 Cash Capex decreasing despite continued investments to support innovation, quality and IT
transformation
172168
1H25 1H26-2.6%% of 1H25
net revenues
10%% of 1H26
net revenues
10%Continued reduction oftotal Cash Capex , down ~3%y/yin1H26,thanks tocontinued focus onCapex efficiency and some phasing effects within theyear Continued progress on IT platforms modernization and consolidation Continued investments to support innovation, quality and securityCash Capex (€M)
This content is classified as Internal 13 Strong excess cash generation in 1H26 872 538 400
1H26 Reported
EBITDA-168
Cash Capex-75
Non -recurring
cash items-91
∆ NWC Operating
Cash Flow-21
Cash Taxes-85
Net Financial
Cash Expenses-33
Other Cash
items2Excess Cash
Note: Including assets held for sale. (1) Operating cash flow generation after cash interest expenses and other cash items (cash taxes, IFRS 16 and other ). (2) Lease payments (IFRS16) and others.-1.8% y/yExcess cash generation1(€M)
This content is classified as Internal 14
Capital
allocationExcess cash1EBITDAY/Y growth broadly in line with 2025 Merchant Solutions reaccelerating Absolute amount broadly stable , after strategic investments
~750 €M,
after strategic investments and higher taxes 0.30 € per share equal to ~350 €M
dividend distribution
Commitment to Investment GradeNet Revenues2026 guidance confirmed Note: (1) Operating cash flow generation after cash interest expenses and other cash items (cash taxes, IFRS 16 and other).
This content is classified as Internal Q&A
This content is classified as Internal
Annex
This content is classified as Internal 17 €M1H25 1H26 Δ% vs. 1H25 2Q25 2Q26 Δ% vs. 2Q25 Merchant Solutions 984 976 -0.8% 523 522 -0.2% Issuing Solutions 555 571 +3.0% 289 293 +1.5% Digital Banking Solutions 181 189 +4.5% 94 100 +6.0% Net revenues 1,719 1,736 +1.0% 906 915 +1.0% Personnel Costs (386) (402) +4.2% (187) (195) +4.4% Operating Costs (464) (464) +0.1% (237) (246) +4.1% Total Costs (850) (866) +1.9% (424) (442) +4.2%
EBITDA 869 870 +0.1% 483 473 -1.9%
Ordinary D&A (238) (225) -5.4% Normalised Interests & financing costs (123) (103) -16.3% Normalised Pre-tax profit 508 542 +6.6% Income taxes (169) (178) +5.7% Profit / loss after tax from AFS, equity investments and minorities(8) (9) +12.1% Normalised Net profit 331 354 +7.0%Group P&L Data at constant FX.
This content is classified as Internal 18 Well diversified revenue base both in terms of business and geography at scale, with exposure to fast growing European markets
By geography
By business
By type
11%33%
56%Merchant Solutions
Issuing Solutions
Digital Banking Solutions
10%15%
59%17%34%
66%Installed based
Volume driven
17%
83%Variable costs
Fixed Costs
78% 22%
Merchant
Solutions53%
47%
Issuing
Solutions43%
57%
Digital Banking
SolutionsItaly
DACHNordics
CSEE1H26 Revenues breakdown 1H26 Costs breakdown by type
This content is classified as Internal 19 Jun 25 Sept 25 Dec 25 Mar 26 Jun 26 Gross Financial Debt 7,108 6,937 6,788 6,801 5,903 Cash 1,922 1,799 1,833 1,925 788 Cash Equivalents 189 98 13 16 16 Net Financial Debt 5,097 5,040 4,942 4,860 5,098Net Financial Debt / EBITDA at 2.7x
LTM 2Q25 LTM 3Q25 FY25 LTM 1Q26 LTM 2Q262.7x 2.6x 2.6x 2.5x 2.7x
LTM EBITDA (€M)2 1,897 1,899 1,902 1,907Net Financial Debt (€M) Net Financial Debt / EBITDA Note: (1) Visa and other l isted shares. (2) Including assets held for sale. (3) As of June 30th, 2026. After hedge and excluding the other financial liabilities (e.g. earnouts, IFRS16, etc.) as well as the S/T financial debt; debt is at nominal value. Lower gross financial debt after the reimbursement of~1€Bofdebt maturities with available cash ~350 €M dividends toshareholders inMay 2026 and completion oftheBanca Popolare di Sondrio deal inApril 2026 Investment grade status reaffirmed byboth Fitch and S&P inJuly Weighted average debt maturity of~3years , with average pre-tax cash cost ofdebt at
~2.5%3(75%fixed -rate)
1,895
2.4x pre BPS deal and dividends in 2Q26
This content is classified as Internal 20 Bridge from Reported EBITDA to Normalised Net Profit €M
115354
21860 -9
-60
1H26
Normalised
Net Profit1H26
Reported
EBITDA-443
D&A Net
profit/loss
of AFS and
equity
investments-104
Interest
ExpensesNon
recurring
items-150
Taxes0
Minorities 1H26
Reported
Net Profit872
-28 -20
At
constant
FXD&A
customer
contracts∆ Interest
expensesNon
recurring
items∆ Taxes
o/w ~12 €M
severance
This content is classified as Internal 21 Bridge from excess cash to cash flow of the period €M 400
-1,044-352
-182
1H26 Excess Cash-911 Δ Debt Δ Equity Net M&A Cash Flow of the period
This content is classified as Internal 22 Debt maturities as of 1H26 Note: (1) Expressed at nominal value, excludes the other M/L T financial liabilities as well as the S/T debt. (2) Assuming fu ll exercise of the 1Y extension option on the 900 €M term facility. (3) Amortising term loan with semi -annual installments and 6 months of grace period. (4) Amortising term loan with semi -annual installments and 2 years of grace period. 500750100 2026 2027 2028 2029 20309002 913
2031 20322024
20331,741
1,000 1,050 1,000Term Loans Senior Notes Convertible NotesNexi Group Debt Maturity Schedule1(€M)
already
reimbursed in April
This content is classified as Internal