Gruppo MutuiOnline S p A : Presentazione risultati primo trimestre 2024 (in inglese)

First Quarter 2024 Results

May 16th, 2024

Disclaimer

Certain statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. The user of such information should recognize that actual results, performance or events may differ materially from such expectations because they relate to future events and circumstances which are beyond Company control including, among other things, general economic and industry conditions. Neither Moltiply Group S.p.A. nor any of its affiliates, directors, officers employees or agents owe any duty of care towards any user of the information provided herein nor any obligation to update any forward-looking information contained in this document.

Neither this presentation nor any part or copy of it may be taken or transmitted into the

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United States (US) or distributed, directly or indirectly, in the US or to any "US person", as that term is defined in the US Securities Act of 1933, as amended, (the "Securities Act"). Neither this presentation nor any part or copy of it may be taken or transmitted into Australia, Canada, Japan or to any resident of Japan, or distributed directly or indirectly in Australia, Canada, Japan or to any resident of Japan. Any failure to comply with this restriction may constitute a violation of US, Australian, Canadian or Japanese securities laws. This presentation does not constitute an offer of securities to the public in the United Kingdom. Persons to whom this presentation is shown should observe all restrictions. By attending the presentation you agree to be bound by the foregoing terms.

Presenting Today

Marco Pescarmona

Group Chairman and Head of Mavriq Division

• Founder and key shareholder (16.81% indirectly through Alma Ventures SA)
• Background in consulting (McKinsey) and banking (Morgan Stanley)
• Degrees in Electrical Engineering and Computer Science, MBA from
  MIT

Alessandro Fracassi

Group CEO and Head of Moltiply Division

• Founder and key shareholder (16.81% indirectly through Alma Ventures SA)
• Background in consulting (Booz Allen & Hamilton) in Italy and USA
• Degree in Industrial Engineering, MBA from MIT

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Francesco Masciandaro

Group CFO

• Background in auditing (Arthur Andersen) and in administration, fiscal and corporate affairs (Società Interbancaria per l'Automazione)
• Degree in Economics

Agenda

1.	Business Description
2.	Share Information	4

1. Business Update
2. Pricewise Acquisition
3. Net Financial Position Update
4. Historical Performance

01. Business Description

Business Portfolio

Moltiply Group S.p.A. ("Moltiply") is the new name of the holding company of a group operating in two separate and independent business segments, through specialized "Divisions", each composed of several dedicated subsidiaries.

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Moltiply Division

(a.k.a. "BPO Division") one of the main Italian players in the provision of complex BPO and IT services for the financial sector.

Mavriq Division

(a.k.a "Broking Division") one of the main international players in the provision of online comparison and intermediation services, operating in Italy, Spain, France and Mexico.

01. Business Description

Mavriq Division - Business Lines

Credit Broking	Insurance	E-Commerce Price	Telco & Energy	International
	Broking	Comparison	Comparison	Markets	6
Mortgage and	Motor insurance	Lead generation for	Price comparison	Insurance and
consumer loan	broking in the	Italian e-commerce	and promotion of	credit broking
broking in the	Italian market,	merchants through	telecommunications	through price
Italian market,	through online lead	price comparison	and energy	comparison
mainly through	generation via	websites.	products.	websites in Spain,
online lead	price comparison			France and Mexico.
generation via	websites.

price comparison websites.

01. Business Description

Mavriq Division - Italian Brands

Brand	Description	Market Position	Operations	Revenue Model
	Multi-product aggregator	Strong number two	Focus on marketing activities,	Commission on new policy sales
	for insurance, personal	player in insurance	mostly TV and Internet. Relies	plus (lower) renewal fees from
	loans, mortgages, telco,	comparison, with large	on specialized group	insurance companies. Free for
	energy products with	gap vs followers. Other	companies for provision of	consumers, with no mark-up.
	brand-driven customer	products represent add-	comparison and	Same remuneration for other
	acquisition model. Focus	on and cross-selling	intermediation services for
	products as for specialized
	on motor insurance.	opportunity.	specific products.
	brands.
	Online Mortgage Broker	Strong leader in	Experienced telephone	Commission from lenders on
	(vertical specialist),	online mortgage	consultants provide	closed mortgages (normally %
	comparison-based.	distribution since	independent advice and	of mortgage amount), one-off.
		year 2000.	qualify all online applications,	May include volume incentives.
			which are then transferred to	Free for consumers, with no
			chosen banks for closing. No	mark-up.	7
			packaging of loan documents.

Online Consumer Loan	Market leader in	Online lead generation for
Broker (vertical specialist),	online personal loan	lenders, with support of
comparison based.	broking and online	telephone consultants. No
	secured loans.	packaging.

Commission from lenders on closed mortgages (normally % of loan amount), one-off. Free for consumers, with no mark-up.

Online price and product comparison of physical goods sold by e- commerce operators.

Market leader (not considering Google Shopping, object of EU fines for abuse of dominant position).

Click generation for merchants. Full integration of merchant catalogs. Over 3000 merchants, representative of Italian e- commerce market.

Mostly cost-per-click with differentiated pricing by product category, some cost- per-sale agreements.

Price comparison and	Leading specialist	Telephone salesforce (Italy
promotion of	operator.	and Albania) to convert
telecommunications		online leads.
and energy products.

Mostly commissions on closed sales from product providers, some pay-per-lead and CPC agreements. Free for consumers with no mark-up.

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01. Business Description

Mavriq Division - International Brands

Brand	Description	Market Position	Operations	Revenue Model

Multi-product	#1 aggregator brand in
aggregator, with focus	Spain with strong brand
on online insurance	awareness thanks to
broking (motor, health,	persisting TV advertising
home, etc.) and wide	since foundation, with
offering of other	particular strength in
products, including	online insurance broking.
mortgages.

Operates as regulated insurance and mortgage broker providing independent advice to customers. For ancillary product operates as lead generator. Customer acquisition thanks to online search and TV advertising.

Commissions on new intermediated policies. Free for consumers, with no mark-up. Percentage commissions on mortgage sales. Various remuneration models for other products.

Multi-product aggregator with sharp focus on online insurance broking (motor, health, etc). Fledgling offer of non- insurance products (e.g. energy).

Co-leader in France, market characterized by two main players and smaller followers.

Aggregator market not well developed mainly due to supply issues.

Operates as regulated insurance broker. Acquires customers mostly through online search, but historically also developed its brand with TV advertising.

Commission linked to new
policy sales or client
introductions. Free for	8
consumers, with no mark-up.

Multi-product	Market pioneer and
aggregator with sharp	(profitable) co-leader in
focus on motor	Mexico, still an early
insurance comparison.	stage market.
Exploring broadening of
offering.

Model based on online customer acquisition and lead generation for insurance partners.

Commission on new policy sales or client introductions. Free for consumers, with no mark- up.

01. Business Description

Moltiply Division - Business Lines

Mortgages	Loans	Wealth
Remote loan sales and	Application processing and	Complete operational service
packaging support, mortgage	portfolio management services	solutions and technology
underwriting and closing	for salary/pension guaranteed	platforms for investment and
services; notary support services.	loans, and for SME loans.	asset management companies.	9

Real Estate	Lease	Claims
Real estate appraisal services and	BPO services and IT core	Loss adjustment and TPA
technical real estate services for	solutions for leasing and long-	services for claims across
operators in the financial and debt	term rental operators.	multiple insurance verticals.
collection sectors.

01. Business Description

Group structure

Group structure | March 31st, 2024

Headcount* 3,243

(FTE)

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* 2023 average