Gigas Hosting S A : Q3 2022 Results Presentation

Diego Cabezudo Javier Cañete

CEOCFO

Q3 2022 Results Presentation for Investors

DEC 2022

gigas

Disclaimer

This document and the conference-call webcast (including the Q&A session) may contain forward-looking statements and information (hereinafter, the "Information") relating to GIGAS HOSTING S.A. or GIGAS GROUP (hereinafter "Gigas", the "Company" or the "Gigas Group"). This Information may include financial forecasts and estimates based on assumptions or statements regarding plans, objectives and expectations that make reference to different matters, such as the customer base and its evolution, organic growth, potential acquisitions, Company's results and other aspects related to the activity and financial situation of the Company. The Information can be identified, in some cases, through the use of words such as "forecast", "expectation", "anticipation", "projection", "estimates", "plan" or similar expressions or variations of such expressions.

The Information reflects the current view of Gigas with respect to future events, and as such, do not represent any guarantee of future certain fulfilment, and are subject to risks and uncertainties that could cause the final developments and results to materially differ from those expressed or implied by such Information. These risks and uncertainties include those identified in the documents containing more comprehensive information filed by Gigas, such as Annual Accounts or the Incorporation Memorandum (Sept. 2015).

Except as required by applicable law, Gigas does not assume any obligation to publicly update the Information to adapt it to events or circumstances taking place after the date of this presentation, including changes in the Company's strategy or any other circumstance.

This presentation and the conference-call webcast (including the Q&A session) contains or might contain non-audited financial information as prepared by Management. The information contained herein should therefore be considered as a whole and in conjunction with all the public information regarding the Company available, including any other documents released by the Company that may contain more detailed information. Neither this document nor the conference-call webcast (including the Q&A session) constitute an offer to purchase, sale or exchange any shares, a solicitation of any offer to purchase, sale or exchange of any shares, or a recommendation or advice regarding any shares.

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YTD Q3´22 Key Highlights

YTD SEP'22 net revenues reached €45.8M, 23.7% up YoY (€37.0M), due organic growth and consolidation of MVNO acquired in Sept. 2021

Gross margin of €28.3M (61.7%) YTD, 29.3%

• higher than €21.9M from same period last year. Margin % significantly above budget (56.9%)

Adj. EBITDA for the 9 months reached €11.0M,

€ up 23.3% YoY (€8.9M) and 7.0% higher than €10.3M budgeted for the period

Low leverage (NFD of 2.2x EBITDA budgeted)

• and good cash position (€12.2M), after TPartner

acquisition in September 2022

Five acquisitions in the last 20 months. UCaaS provider just acquired in Spain, which brings in €6.0M in revs. and €1.8M in EBITDA (2021 figures)

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Revenues 2022 SEP YTD

• Net revenues grew to €45.8M in the first nine months of the year, 23.7% higher than the €37.0M from same period last year, due mainly to the consolidation of MVNO Onmovil acquired in September 2021 and cloud organic growth, although slightly below budget (5.3% lower)
• Telecommunications services represented 67.9% of total revenues while cloud and cybersecurity represented 32.1%.

9M Net Revenues

Gross Margin and EBITDA SEP YTD

• Gross Margin of €28.3M in YTD Q3'22, 29.3% better than the €21.86M of YTD SEP'21
• Gross Margin reached 61.7% of net revenues substantially better than the 59.1% of same period of last year, and much better than the 56.9% budgeted, thanks to renegotiation of wholesale telecommunications contracts and other efficiencies
• Adjusted EBITDA reached €11.0M (before M&A costs and long term remuneration plans and other extraordinary), 23.3% higher than first 9 months last year (€8.94M)
• EBITDA margin totaled 24.1% over Revenues, in line with same period last year but significantly better than budgeted (21.3%), due to higher gross margin, operating leverage and synergies obtained from acquisitions

9M 2022 Adj. EBITDA*

EUR Million

*Adjusted EBITDA represents recurring EBITDA excluding M&A related costs, multiyear remuneration plans and other extraordinary