SeSa S p A : Board of Directors - Interim Report at January 31, 2023 (nine-month period)

PRESS RELEASE

APPROVAL OF THE CONSOLIDATED INTERIM REPORT

FOR THE NINE-MONTH PERIOD AS OF JANUARY 31, 2023

Growing increase of financial results and strong value generation in the 9-month period:

• Consolidated Revenues and Other Income: Eu 2,176.4 million (+23.8% vs January 31, 2022)
• Consolidated Ebitda: Eu 156.0 million (+25.2% vs January 31, 2022)
• Ebitda margin equal to 7.2% (vs 7.1% as of January 31, 2022)
• Group Adjusted Earnings After Taxes1: Eu 76.5 million (+23.0% vs January 31, 2022)
• Consolidated NFP2 active (net liquidity): Eu 199.6 million, improving compared to Eu 177.8 million as of January 31, 2022
• Human Resources: 4,636 employees as of January 31, 2023 (+19.5% vs January 31, 2022)
• Increase in Revenues and Ebitda guidance for the FY 2023: Revenues target in the range between Eu 2.8 billion and Eu 2.9 billion, Ebitda target in the range between Eu 200 million and Eu 210 million for an Ebitda growth in the range between +20% and +25% Y/Y (compared to the range between +16% and +22% Y/Y already communicated)

Empoli (FI), March 13, 2023

The Board of Directors of Sesa S.p.A., reference player in technological innovation and digital services for the business segment, today approved the consolidated Interim Report referring to the 9-month period as of January 31, 2023, in accordance with EU-IFRS accounting standards.

In the period under review Sesa Group continues its development path, achieving consolidated Revenues and Other Income for Eu 2,176.4 million (+23.8% Y/Y) with an Operating Profitability (Ebitda) equal to Eu 156.0 million, up 25.2% Y/Y.

The Group benefits from the continuous investment strategy focusing on business segments enabling technological innovation (security, business applications, cloud, digital green, digital platforms), thanks to the positive trend of the Italian Information Technology market with an average annual growth rate in the three-yearperiod 2022-2024Eequal to 5.2%, compared to the pre-pandemicone +2.6% in the 3-Yearperiod 2017-2019(source Sirmi, January 2023).

The Group confirms its ability to attract and retain skills and human resources with 4,636 specialized employees as of January 31, 2023 (+19.5% Y/Y as of January 31, 2022) and a solid organic growth, with a contribution deriving from external growth equal to 12% of total 9-months period under review at revenues level and equal to 25% at operating profit level.

Consolidated Revenues and Other Income grew by 23.8% to Eu 2,176.4 million, with a significant contribution by all Group sectors:

• VAD sector with Revenues and Other Income equal to Eu 1,703.6 million (+24.1% Y/Y), driven by the development of Digital Green, Networking e Collaboration, Security and Enterprise Software BUs;
• SSI Sector with Revenues and Other Income equal to Eu 501.8 million (+19.7% Y/Y), thanks to the development of the main operating BUs;
• Business Services Sector with Revenues and Other Income equal to Eu 59.5 million (+42.6% Y/Y), driven by the contribution of the Digital Platforms and Vertical Applications BUs.

1. Consolidated Adjusted Net profit attributable to the Group before amortisation and depreciation of intangible assets (client lists and know-how) recorded following the Purchase Price Allocation (PPA) relating to corporate acquisitions, net of the tax effect
2. NFP gross of IFRS 16 liabilities and IFRS 3 liabilities to minority shareholders for M&As, equal to Eu 184.4 Mn.

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37.126.927,50 f.p.,

VAT number, Fiscal and number of the Florence Company Register 07116910964

Ph. Number: 0039 0571 900900; website: www.sesa.it

Thanks to the Revenues growth in high added-value areas, consolidated Ebitda increased by +25.2% Y/Y, achieving Eu 156.0 million, with a 7.2% Ebitda margin higher than 7.1% as of January 31, 2022. All Group reference Sectors contributed to the consolidated Ebitda result:

• VAD sector with an Ebitda of Eu 87.0 million (+30.2% Y/Y) and a further growth of the Ebitda margin to 5.1% vs 4.9% as of January 21, 2022 and 4.9% in FY 2022
• SSI sector with an Ebitda of Eu 61.2 million (+21.1% Y/Y) and a further growth of the Ebitda margin to 12.2% vs 12.1% as of January 31, 2022 and 11.9% in FY 2022;
• Business Services sector with an Ebitda of Eu 4.9 million (+0.7% Y/Y) and an Ebitda margin equal to 8.2% vs 11.6% as of January 31, 2022 and 9.7% in FY 2022, not yet reflecting the investments in the period under review related to the development of digital platforms and vertical application solutions to serve customers.

Group consolidated Operating Result (Ebit) Adjusted (gross of PPA amortizations of customer lists and knowhow for Eu 12.9 million) is equal to Eu 121.6 million with an increase of 24.8% Y/Y. Group consolidated Operating Result (Ebit) is equal to Eu 108.7 million, up by 22.0%, after amortizations of intangible assets for Eu 37.7 million (+24.3% Y/Y), provisions and other non-monetary costs for Eu 9.6 million (+85.3% Y/Y) and PPA amortizations for Eu 12.9 million (+53.9% Y/Y, as a result of the significant M&A investments in the last 12 months).

The consolidated Adjusted Earnings before taxes increased by 21.6%, reaching Eu 112.9 million as of January 31, 2023. The consolidated Earnings before taxes as of January 31, 2023 amounted to Eu 100.0 million, up by 18.4% Y/Y, after net financial charges of Eu 8.7 million compared to Eu 4.6 million as of January 31, 2022.

The Consolidated Adjusted Net profit (gross of amortization of intangible assets Client Lists and Know-how and net of the related tax effect) increased by 22.1% Y/Y, achieving Eu 80.7 million as of January 31, 2023.

Group Consolidated Adjusted Net profit after minority interests (Adjusted EAT attributable to the Group) as of January 31, 2023 is equal to Eu 76.5 million (Group EAT Adjusted margin equal to 3.5%, flat Y/Y), up by 23.0% Y/Y compared to Eu 62.2 million as of January 31, 2022.

Consolidated Net Financial Position is active (net liquidity) for Eu 199.6 million, improving compared to Eu 177.8 million as of January 31, 2022, thanks to LTM Eu 130 million operating cash flow, net of capex and M&As investment for approximately Eu 115 million and dividend distribution and treasury shares buy-backfor total Eu 27 million.

Consolidated Net Financial Position Reported as of January 31, 2023 (net of IFRS Liabilities for Eu 184.4 million mainly consisting of deferred payments of company acquisitions and liabilities to minority shareholders for M&As) is active (net liquidity) for Eu 15.2 million, compared to Eu 30.4 million as of January 31, 2022. In the period under review, the consolidated Shareholders' Equity is further strengthened, achieving as of January 31, 2023 Eu 381.0 million, increasing from Eu 309.5 million as of January 31, 2022.

In light of the positive results achieved in the first nine months of the FY 2023, the expected contribution of the about 50 bolt-on M&As closed in the last three Years as well as the growing demand for digitalization in the reference market, the Group confirms the positive outlook for the Fiscal Year ending April 30, 2023 with an increase in Revenues and Ebitda guidance for the FY 2023: new Revenues target in the range between Eu 2.8 billion and Eu 2.9 billion, new Ebitda target in the range between Eu 200 million and Eu 210 million, with an Ebitda growth in the range between +20% and +25% Y/Y (compared to the range between +16% and +22% Y/Y already communicated).

The Group will continue to sustain the development of skills, human resources and technology innovation solutions, aiming at confirming the long-term growth track record in the coming years, generating sustainable value for all stakeholders and improving the Group sustainability profile with the recent upgrade of the CDP sustainability rating to "B" level and "Gold" level achievement of the EcoVadis rating.

The Chairman Paolo Castellacci and the Chief Executive Officer Alessandro Fabbroni stated about the 9- month results as of January 31, 2023 as follows:

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37.126.927,50 f.p.,

VAT number, Fiscal and number of the Florence Company Register 07116910964

Ph. Number: 0039 0571 900900; website: www.sesa.it

"In the first nine months of the FY 2023 we continued to invest in human capital and digital skills development, confirming our role of reference player in our industry, leading the digital evolution of Enterprises and Organizations. We will continue the Group management to pursue long-term growth and sustainable value generation", stated Paolo Castellacci, Chairman and founder of Sesa.

"The results as of January 31, 2023 confirm our successful strategy focused on skills and human resources development, with a strong and mainly organic growth in revenues, driven by a digitalization demand of Enterprises and Organizations significantly higher than pre-Covid one. In the light of the positive trend of digital demand, skills and innovative solutions investments and our great ability of industrial aggregation thanks to the pipeline of bolt-on M&As, we confirm the positive outlook with a growth higher than 20% expected in consolidated Revenues and Ebitda for the Fiscal Year as of April 30, 2023, supporting our stakeholders in the current phase of digital evolution and expanding our outstanding long-term growth track record", stated Alessandro Fabbroni, CEO of Sesa.

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Hereinafter the following exhibits (in Euro thousands):

Exhibit n. 1 - Reclassified Consolidated Income Statement as of January 31, 2023 Exhibit n. 2 - Reclassified Consolidated Balance Sheet as of January 31, 2023 Exhibit n. 3 - Consolidated Income Statement as of January 31, 2023

Exhibit n. 4 - Consolidated Statement of Financial Position as of January 31, 2023 Exhibit n. 5 - Segment Information as of January 31, 2023

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This press release is also available on the company's website www.sesa.it, as well as on the authorized storage mechanism eMarket Storage consultable at the website www.emarketstorage.com.

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Conference Call: Monday March 13, 2023 at 4.00 p.m. (CET), Sesa S.p.A. will hold a conference call with the financial community, during which the Group's economic and financial results will be discussed. You can connect through the following phone numbers: from Italy [phone], from the UK [phone], from USA [phone] (international local number), 1 855 2656958 (toll-free number). Before the conference call, the financial presentation will be available on the company's website, https://www.sesa.it/en/investor-relations/presentations.html.

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Alessandro Fabbroni, as Director in charge of preparing the Corporate Accounting documents, declares pursuant to paragraph 2 of article 154 bis of the Consolidated Finance Act, that the accounting information contained in this press release is in line and corresponding to the accounting books and records.

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Sesa S.p.A., with Headquarters in Empoli (Florence), is the operating holding company of a Group with presence on the whole Italian territory and foreign countries as Germany, Switzerland, Austria, France, Spain, Romania and China that represents the reference

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37.126.927,50 f.p.,

VAT number, Fiscal and number of the Florence Company Register 07116910964

Ph. Number: 0039 0571 900900; website: www.sesa.it

player in Italy in technological innovation and digital services for the business segment, with consolidated revenues of Euro 2,390 million (+17.3% Y/Y), Ebitda Eu 167.7 million (+33.1% Y/Y) and 4,200 employees in the FY as of April 30, 2022 (+21% Y/Y).

Sesa Group has the mission of offering technological solutions, digital services and business applications to support the digital transformation and innovation towards sustainability of Enterprises and Organizations, through four main business Sectors:

• Corporate, with revenues of about Euro 16 million and 140 human resources as of April 30, 2022;
• VAD (Value Added Distribution), with revenues of about Euro 1,857 million and 630 human resources as of April 30, 2022;
• SSI (Software and System Integration), with revenues of about Euro 572 million and 2,850 human resources as of April 30, 2022;
• Business Services, with revenues of about Euro 59 million and 550 human resources as of April 30, 2022.

Sesa Group pursues a sustainable development strategy for the benefit of all Stakeholders, with a track record in the period 2011-2022 of continuous growth in employment, revenues (CAGR revenues 2011-2022 +11.2%) and profitability (CAGR Ebitda 2011-2022 +15.5%).

Sesa Group strategy of long-term value generation for all stakeholder is based on human resources skill development, environmental sustainability and social responsibility, with continuous improvement of ESG performance.

As of April 30, 2022, the Group generated a net economic value of about Eu 315 million (+26% Y/Y), distributed for over 60% to the remuneration of Human Resources, with about 4,200 employees(+21% Y/Y), with improved hiring programs (607 hires in FY22, +51% Y/Y), skills development investments (approximately 61,000 training hours, +132% Y/Y) and welfare programs to support parenting, diversity, well-being and work-life balance of Human Resources.

In Year 2021 Sesa introduced in its corporate bylaw the sustainable growth as Board of Directors priority and starting from FY 2022 Sesa has published the Integrated Annual Report, providing a complete, measurable, and transparent representation of the Group value generation, at financial and ESG performance level. In terms of sustainability governance, the Group's main companies achieved the ISO 14001 certification and the UN Global Compact membership.

In 2022 Sesa reached the Gold level issued by Ecovadis and achieved the increase to B level of sustainability rating issued by CDP. Sesa S.p.A. is listed on the Euronext STAR Milan (ISIN Code: IT0004729759) and is part of FTSE Italia Mid Cap index.

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For Media Information

Community Società Benefit a r.l. Giuliano Pasini, Federico Nascimben

[phone] - [e-mail]

Idea Point S.r.l. Alessandro Pasquinucci

[phone] - [e-mail]

For ESG and Financial Information

Sesa Team Stakeholder Relations

Jacopo Laschetti: Stakeholder, IR and Sustainability Manager

Elisa Gironi: Cor. Governance, M&A and Integration Director

Francesco Billi: Chief Financial Officer

[phone] - [e-mail]

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37.126.927,50 f.p., VAT number, Fiscal and number of the Florence Company Register 07116910964

Ph. Number: 0039 0571 900900; website: www.sesa.it

Exhibit 1 - Reclassified Consolidated Income Statement of Sesa Group as of January 31, 2023 (Euro thousands). Results as of 31/01/2023 approved by the Board of Directors on March 13, 2023, unaudited

Reclassified Income Statement	31/01/2023	%	31/01/2022	%	Change
(9 months)	(9 months)	2023/22
Revenues	2,154,663		1,739,121		23.9%
Other income	21,722		18,757		15.8%
Total Revenues and Other Income	2,176,385	100.0%	1,757,878	100.0%	23.8%
Purchase of goods	(1,656,517)	76.1%	(1,345,459)	76.5%	23.1%
Costs for services and leased assets	(186,005)	8.5%	(141,736)	8.1%	31.2%
Personnel costs	(173,718)	8.0%	(142,449)	8.1%	22.0%
Other operating charges	(4,191)	0.2%	(3,685)	0.2%	13.7%
Total Purchase of goods and Operating Costs	(2,020,431)	92.8%	(1,633,329)	92.9%	23.7%
Ebitda	155,954	7.2%	124,549	7.1%	25.2%
Amortisation tangible and intangible assets (sw)	(24,771)		(21,933)		12.9%
Accruals to provision for bad debts and risks and other	(9,590)		(5,176)		85.3%
non-monetary costs
Adjusted Ebit*	121,593	5.6%	97,440	5.5%	24.8%
Amortisation client lists and technological know-how	(12,929)		(8,403)		53.9%
(PPA)
Ebit	108,664	5.0%	89,037	5.1%	22.0%
Net financial income and charges	(8,675)		(4,584)		89.2%
Ebt	99,989	4.6%	84,453	4.8%	18.4%
Income taxes	(28,437)		(24,305)		17.0%
Net profit	71,552	3.3%	60,148	3.4%	19.0%
Net profit attributable to the Group	67,333	3.1%	56,262	3.2%	19.7%
Net profit attributable to non-controlling interests	4,219		3,886		8.6%
Adjusted Ebt1	112,918	5.2%	92,856	5.3%	21.6%
Adjusted Net profit1	80,755	3.7%	66,129	3.8%	22.1%
Adjusted Net profit attributable to the Group1	76,536	3.5%	62,243	3.5%	23.0%

1. Adjusted Ebit and Adjusted Ebt before amortisation and depreciation of intangible assets (Client lists and Know-how) recorded following the Purchase Price Allation (PPA). Adjusted Net profit and Adjusted Net profit attributable to the Group before amortisation and depreciation of intangible assets (Client lists and Know-how) recorded following the Purchase Price Allocation (PPA), net of tax effect.

SeSa S.p.A. headquarters in Empoli (Florence), Via della Piovola 138, Share Capital Euro 37.126.927,50 f.p.,

VAT number, Fiscal and number of the Florence Company Register 07116910964

Ph. Number: 0039 0571 900900; website: www.sesa.it