Nitro Software : Chairman's Address to Shareholders & AGM Presentation

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26 May 2022

2022 Annual General Meeting

Nitro Software Limited (ASX:NTO) ('Nitro' or the 'Company'), a global document productivity SaaS company driving digital transformation in organisations around the world, will today address Shareholders at its Annual General Meeting, commencing at 9:00 AEST.

Attached is a copy of the presentation and address to be delivered by the Chairman, Mr Kurt Johnson, and the Chief Executive Officer, Mr Sam Chandler.

Ends

Authorised for release to the ASX by the Board of Directors.

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Investors

Nitro

Investor Relations [phone] [e-mail]

Media

Cato & Clive Clive Mathieson [phone] [e-mail]

Registered Office	Corporate Office
Level 7, 330 Collins Street	150 Spear Street, Suite 1850
Melbourne	San Francisco
Victoria 3000	California 94105
Australia	United States of America

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Nitro is a global document productivity SaaS company accelerating digital transformation in a world that demands the ability to work from anywhere, anytime, on any device. As a global player in the eSign and workflow productivity market, Nitro enables organisations to drive better business outcomes through 100% digital document processes and fast, efficient workflows. The Nitro Productivity Platform offers comprehensive SaaS business solutions, including highly secure eSigning and eID, powerful PDF productivity and industry-leading analytics, all supported by a superior customer success team. Nitro has over 3 million licensed users and 13,000+ business customers in 157 countries, including over 67% of the Fortune 500 and three of the Fortune 10. Nitro is headquartered in San Francisco with nine global hubs.

For more information on Nitro, please visit:

• Nitro: https://www.gonitro.com
• Connective: https://connective.eu
• Investors: https://ir.gonitro.com/Investor-Centre/

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Nitro Software

2022 Annual General Meeting

Chairman's Address

Dear Shareholders,

Last year was an exciting time for Nitro and one of the most dynamic years in our history as we purposefully scaled to drive even stronger growth in the years to come. With two transformative acquisitions and a successful capital raising that delivered us a comprehensive product platform, opened up new market opportunities, and provided us with the financial strength to achieve our ambitious growth goals, we are now well placed to capitalise on the enormous opportunities that lie ahead in the journey of digital transformation.

Across 2021, we significantly expanded our product offering and addressable market with the two game-changing acquisitions of PDFpen and Connective NV driven by the desire to add technical capabilities to the Nitro Productivity Platform. With these strategic investments, we took a significant leap forward in our journey to become an end-to-end document lifecycle platform.

Together with our 13,000+ business customers and proven go-to-market abilities, these acquisitions gave Nitro the ability to meet virtually every customer need in workflow productivity and eSigning, and we experienced strong support from both new and existing customers. As we head into 2022, we continue to see customers around the world choosing Nitro to accelerate their business processes, make people more productive, reduce compliance costs, enhance the security of their signing workflows, and much more. It is truly inspiring to see the level of confidence and trust that companies of all sizes have placed in our productivity solutions.

As demonstrated by our big logo wins and key financial highlights from 2021, we continued to successfully deliver high growth rates at increasing levels of scale and reached important

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scaling milestones - surpassing US$50 million in revenue and over 1 million in active subscription licenses.

Annual Recurring Revenue or ARR at year end including Connective was US$46.2 million, up 62% year-over-year. ARR excluding Connective was US$40.1 million, representing an increase of 41% year-over-year. Nitro completed the year with total revenue of US$50.9 million, up 27% compared to 2020, and subscription revenue increased by 59% year-over-year.

Due to strong execution during the year on both revenue and costs, our Operating EBITDA loss of US$7.6 million was in line with upgraded guidance. We finished the year with over US$48 million in cash and in a strong position for continued growth.

To ensure we have the right talent to execute on our growth strategy and build sustainable value for shareholders, we continued to invest in growing our workforce this past year. In 2021, we increased our global team to more than 350, welcoming almost 140 new Nitronauts across our nine global hubs in the US, Canada, Europe, and Australia. We have an ongoing commitment to evolving the team and structure to ensure Nitro remains well-positioned to meet its growth ambitions.

We also commenced a Board renewal program last year, informed by a review of the Director skills and experience required to continue achieving our purpose and strategic objectives for Nitro's next phase of growth. In August 2021, Craig Scroggie, one of Australia's most successful technology entrepreneurs, joined the Board as an independent Non-Executive Director. In February of 2022, we announced the appointment of former DocuSign Chief Human Resources Officer, Peter Navin, as an independent Non-Executive Director and Chair of the Remuneration and Nomination Committee.

As we continue to expand our capabilities and offerings to create value for our customers and shareholders, we also understand the importance of having a sustainable business model that benefits all stakeholders. To that end, we conducted an environmental, social and governance ('ESG') assessment in 2021 to identify key ESG issues that may impact our business and our ability to support sustainability practices relative to industry standards. The next steps in our

Level 7, 330 Collins Street, Melbourne, Victoria 3000, Australia | +1.650.507.4777 | gonitro.com