FY 2020 RESULTS PRESENTATIONMarch 31, 2021

2020 Achievements

SUSTAINABLE STRONG GROWTH

10-year CAGR: +21% p.a.--------------------------------FY20: - Revenue +17%- Order Entry +35% --------------------------------FY19:- Revenue +32%- Order Entry +34%

2020 sales: €290m (+17%)

Continued growth in 2020 despite COVID:

2020 OE: €455m (+35%)

0

50

100

150

200

250

300

350

400

450

500

2016 2017 2018 2019 2020e

OE in M€ Sales in M€

HIGHLY RESILIENT MARKET

4

2020 FY SALES

Q4 Sales of €97m (+29%)

H2 Sales of €172m (+36%)

Record increase in Q4 order entries to €200m (€455m on a full year basis)

Good visibility around improved outlook for 2021

50.867.6 73.4

98.5

246 245268

290

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100

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200

250

300

350

0

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100

150

2020-Q1 2020-Q2 2020-Q3 2020-Q4

Revenue

Quarter 12 month rolling

71,893,8 87,7

202,0361 379 373

455

0

100

200

300

400

500

0

50

100

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200

250

2020-Q1 2020-Q2 2020-Q3 2020-Q4

Order Entry

Quarter 12 month rolling

3684

144

160

67

47

2019 2020

APAC & Americas EMEA excl. France France

5

EUROPE -2% vs 2019- Strong impact of COVID- Contrasted situation between

Germany & North Europe (stronggrowth) and France & South Europe (tough impact of pandemicon sales)

- Europe back to growth in H2

AMERICA & APAC +133%- €84m i.e. 29% of total revenues- Breakthrough in North America

-31%

+133%

REVENUES BYGEOGRAPHY(€M)

Breakthrough in America- 11 clients among Top 50 north american retailers including 4 among Top10- 4 roll-outs started and 7 promising pilots underway or about to start- Already 2,000+ stores installed in the region- SES-imagotag is N°1

Revenue in M€

+11%

248290

2020 FY Results

7

2020 FY RESULTS

+17% revenue growth

Strong profitabilityimprovement

VCM +25%

EBITDA x4

Net Loss -42%(Positive Net Profit in H2)

2020 2019 Changes 2020 / 2019

Revenues 290,3 247,6 17%

Variable Costs Margin 63,2 50,5 25% % of revenues 21,8% 20,4% +1.4 pt

Opex (47,2) (46,5) 2% % of revenues -16,3% -18,8% -2.5 pts

EBITDA 16,0 4,0 300% % of revenues 5,5% 1,6% +3.4 pts

Depreciation (18,9) (13,8) 37%Current EBIT (2,9) (9,8) -70%

% of revenues -1% -4% +3 pts

Non-recurring / non-cash items (2,1) (4,8) -56%EBIT (5,0) (14,6) -66%

% of revenues -2% -6% +4 pts

Financial Income / (Loss) (3,8) (2,3) 66%Tax 1,2 3,8 -69%

Net Income / (Loss) (7,6) (13,1) -42% % of revenues -3% -5% +2 pts

Strong EBITDA improvement at constant EUR/USD exchange rate

€m

8

• 2020 Ebitda x4 vs. 2019

• Ebitda growth driven

• by higher volume

• higher margins on deals

• Strict Opex control

• Limited impact of the EUR/USD exchange rate vs. 2019

4.0

16.08.7

1.6

2.5

-0.8

Ebitda 2019 Volume effect 2019 / 2020EUR/USD impact

VCM rate impact Opex Ebitda 2020

1.6%

5.5%

2019 2020

VAS ESL

9

ESL revenues grew +11%

VAS revenues grew +64%

VAS represent 13% of total revenues (vs. 10%+ in 2019)

VAS revenues are more profitable than ESL

REVENUES ESL VS.VAS*(€M)

*Definitions:

ESL Revenues à ESL and related hardware (fixings, access points, accessories)

VAS Revenues à Value-Added Software, Services and Solutions (non-ESL)

+64%

+11%

248

290

13%+

2019 2020

ESL IB ESL NI

10

Installed Base (IB) ESL revenues include recurring reassortment, replacements, extensions, on alreadyinstalled stores

IB revenues represent 25%+ of total ESL revenues

IB revenues grow approx. +20% p.a. ie the Revenues CAGR over the last years

Installed Base revenues show a higher margin than New Installations revenues in average

ESL REVENUES BREAKDOWNINSTALLED BASE (IB) VS NEW INSTALLATIONS (NI)

ESL revenues

NI

IB27%25%

+22%

Opex ratio continues to improve toward our ~10% target€m and % of sales

11

+2%

40.0 46.547.2

21%

19%16%

10%

-3%

2%

7%

12%

17%

22%

0

15

30

45

60

2018 2019 2020 2023

Opex Opex ratio

EBIT to EBITDA reconciliation(€m)

12

As of,

in M€ Dec. 31, 2020 Dec. 31, 2019

Operating Income (EBIT) (5.0) (14.6)- GdW amortization (0.9) (0.9)- Equity / debt / M&A related fees (0.3) (0.8)- Performance Shares Plan (IFRS2) (0.7)- Onerous contracts (0.9)- Disaster (0.9)- US / China custom duties (1.1)- End-of-life product depreciation (1.3)- Others 0.7 0.2= Current EBIT (2.9) (9.8)

- Fixed & Intangible Asset Depreciation Expense (18.9) (13.8)= EBITDA 16.0 4.0

Positive Net Cash EoY

13

€m / before IFRS16 FY 2020 FY 2019

EBITDA 13.4 1.7Capex (29.5) (36.2)Change in Working Capital 6.4 41.2

Operational Cash-Flow (9.7) 6.7Financial result (3.8) (2.3)Tax (0.6)Others 0.6 (4.0)

Total Cash-flow (13.5) 0.4Capital Increase 34.3

Change in Net Debt (13.5) 34.7

Net Cash / (Debt) before IFRS16 3.8 17.3Cash 88.6 73.1Debt (before impact of IFRS16) -84.8 -55.8Debt (after impact of IFRS16) -89.0 -76.5change in Net Cash / (Debt) before IFRS 16 -13.5

Total investments decreased by -20% (-8M€) but R&D and innovation efforts are strengthened

14

€m FY 2020 FY 2019

R&D and IT investments 18.1 14.0Industrial investments 2.3 16.5

Customer base acquisition JV China 2.6Hardware as a service 7.7 2.5

Others 1.4 1.6

TOTAL CAPEX 29.5 37.2

Business model and profitability drivers

15

Profit improvement drivers

1. High value-add solutions on-top of ESL installed base2. Continued operational leverage3. Cost competitiveness

2018 2019 2020 2023

in % of sales

MCV OPEX EBITDA

26%

21%

4%1.6%

18.8%

20.4%

VCM

OPEX

EBITDA

Strong €/$ impact

Operational leverageLocal critical massDigitization of all processes for higher efficiency

Target 10%

Target 15% EBITDA margin

Target 25%Higher mix of SWS / VASHigher recurring revenue frominstalled baseCost optimizations

5.5%

16.3%

21.8%

4459 63

82 81

111

177153

188

247

290

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2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Revenue in €m

2023

ROW

Europe

VUSION-23 PLAN

10% >25% 50%

ACCELERATIONWORLDWIDE

2023~€800mEBITDA 15%

2021~€400mACCELERATIONEUROPE+TAKE-OFF ROW10-year CAGR +20% p.a.

2021

2020€290m(+17%)

2020

THANK YOU & STAY SAFE!