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Nedap Investor Presentation September 2019 Disclaimer Any - PowerPoint PPT Presentation

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Nedap Investor Presentation September 2019 Disclaimer Any forward-looking statements in this presentation refer to future events and may be expressed in a variety of ways, such as expects, projects, anticipates,

  1. Nedap Investor Presentation September 2019

  2. Disclaimer • Any forward-looking statements in this presentation refer to future events and may be expressed in a variety of ways, such as “expects”, “projects”, “anticipates”, “intends” or other similar words (“Forward - looking statements”). Nederlandsche Apparatenfabriek “Nedap” N.V. (“Nedap”) has based these forward -looking statements on its current expectations and projections about future events. Nedap’s expectations and projections may change and Nedap’s actual results, performance or achievements could differ significantly from the results expressed in, or implied by, these forward- looking statements, due to possible risks and uncertainties and other important factors which are neither manageable nor foreseeable by Nedap and some of which are beyond Nedap’s control. • In view of these uncertainties, no certainty can be given about Nedap’s future results or financial position. We advise you to treat Nedap’s forward-looking statements with caution, as they speak only as of the date on which the statements are made. Nedap is under no obligation to update or revise publicly any forward- looking statement, whether as a result of new information, future events or otherwise, except as may be required under applicable (securities) legislation. • The results in this presentation are derived from the financial statements of Nedap, which are compliant with IFRS. 2

  3. Contents Nedap at a Glance Nedap Investment Proposition Key Financials 05 Key Facts 14 Investment Proposition 24 Key Financials 06 Management 15 Financial Track Record 25 Operational Highlights H1 2019 Strategy Outlook 16 Financial Targets 08 Technology for Life 17 Nedap Share 27 Outlook Business Cases 09 Strategic Framework 28 Summary Appendix 10 Strategic Intent 19 !D Cloud 11 Value Creation Model 20 AEOS 30 5-Year Financial History 12 Overview Business Units 21 Cowcontrol 31 Overview Business Units 22 Ons Softwareplatform 32 Consolidated Income Statement 33 Consolidated Balance Sheet 3

  4. Nedap at a Glance 4

  5. Key Facts Revenue (2018) €1 91 million Founded in Listed since High-tech Creating 1929 1947 company hardware & software Market Cap (02/09/2019) € 303 million 720 employees 4 core Leading technologies positions in 7 Operating Profit selected niche (2018) markets € 19.4 million Headquarters in Groenlo, ROIC The Netherlands (2018) Attracting the Entrepreneurial, Offices in US, China, Dubai, Poland, 25% brightest minds France, UK, Germany, Spain, Belgium innovative and The Netherlands culture in our industry 5

  6. Management Ruben Wegman (1966, CEO) Joined Nedap in 1997, CEO since 2009 Nedap board member since 2002 − Several management positions at Nedap since 1997 − Started career at Shell − Graduated in Computer Sciences − Various executive programs, including INSEAD and IMD − Eric Urff f (1967, CFO) Joined Nedap in 2014, CFO since 2015 Nedap board member since 2015 − Several management positions in investment banking, consulting − and finance Graduated in Management Sciences, postdoc degree in − Management Accounting Various executive programs, including INSEAD and Stanford − 6

  7. Strategy 7

  8. Technology for Life • Nedap develops ‘Technology for life’: products that help people become more productive, more successful and more meaningful in their professional lives • Our propositions are built by combining 4 core technologies and deep insights in 7 niche markets • Proud of our heritage as a high-end Dutch hardware manufacturing company, we have gradually evolved into an international provider of scalable and proprietary propositions • Our ambition is creating winning platforms centered around our hard- and software capabilities, by: − building eco-systems with business and technology partners − nurturing an entrepreneurial culture − employing the brightest minds in our industry 8

  9. Strategic Framework Building winning platforms Focus on 4 core Deep insights in 7 niche markets technologies 1.Healthcare 1.Connected devices 2.Identification Systems 2.Communications 3.Light Controls technology 4.Livestock Management 3.Software architecture 5.Retail 4.User Xperience 6.Security Management 7.Staffing Solutions Observe Scale Create 9

  10. Strategic Intent Evolving from hardware manufacturer to provider of scalable and proprietary propositions High-end hardware Investments in scalable Increased focus Building winning platforms manufacturing and proprietary and restructuring company propositions • Outsourcing manufacturing • Entrepreneurial culture • Increased investments • Creating eco-systems • Reduction product porfolio > 70% • Employee centric in product development • Market leadership in strategy • Exit non-core business (Nsecure) • Phase-out of main 7 attractive niche markets • Investments in • Phase-out less-value adding supplier activities • Focus on 4 core sales and marketing businesses technologies • Building an • International expansion -HID products international scalable -Energy Systems organisation <2009 2009 - 2013 2014 - 2017 >2018 Forging an international and scalable business partner network From hardware to software to platforms Driving high and growing added value per employee 10

  11. Value Creation Model Capturing growth by the synergy of Nedap employees and culture Core elements competiveness Strategic principles People • • Long term perspective: urgent patience Culture • • Employees are key to our succes Leadership • Changing Gears Nedap employees Growth Portfolio added value distinctive per employee propositions Leading market positions Healthcare • Identification Systems • Light Controls • • Connected devices Livestock Mangement • • Communication technology Retail • • Software architecture Security Management • • User eXperience Staffing Solutions • Core technologies Marketgroups 11

  12. Overview Business Units Business units Size* Niche market Competitive position Typology Healthcare 10-20% Long term care providers -#1 in elderly care, #2 in disabled care Scale-up -New entrant in mental healthcare Start-up -New entrant in preventive care Start-up Identification Systems 10-20% Larger companies, financial -#1 in wireless parking sensors Start-up institutions and governments -Global leader in identification of vehicles Scale-up Light Controls 10-20% General industries, water -#1 in high-power UV power supplies Scale-up treatment companies and retail -Leading position in connected lighting Start-up Livestock Management >20% Management of cows and pigs -#1 in dairy farming sensors Scale-up -#1 in pig feeding farming systems Scale-up Retail >20% International fashion and food - Top-3 player in anti-shop lifting solutions Scale-up retailers - Leading position in shop based stock Start-up management Security Management 10-20% Larger companies, financial - Top-3 player Scale-up institutions and governments Staffing Solutions <10% Employment agencies Largest independent solution Start-up * % of revenue 12

  13. Nedap Investment Proposition 13

  14. Investment Proposition • Focus on 4 core technologies and 7 niche markets offers opportunities to build winning platforms • Track-record of autonomous growth by creating scalable and proprietary propositions • High and growing added value per FTE driven by our entrepreneurial culture • Growth in margins and recurring software services underpinned by creating eco-systems and an international scalable organisation • Transition to an asset light business model enhances capital efficiency and cash conversion • Solid financial position • Attractive dividend 14

  15. Financial Track Record Revenue Operating profit (excl one-offs) Strong Financial Position 60% 1 5% 195 30% 20 12% +12% 185 25% 0,8 16 10% 40% 175 20% 0,6 +4% 165 15% 12 8% +1% 0,4 +2% 20% 155 10% 8 6% 0,2 145 5% 0% 0 135 0% 4 4% 2014 2015 2016 2017 2018 In €m 2014 2015 2016 2017 2018 In €m 2014 2015 2016 2017 2018 Total revenue Recurring revenue growth Operating profit (excl one-offs) Operating margin Solvency Net debt/EBITDA Added value Return On Invested Capital (ROIC) Dividend per share €2,50 €2,50 190 65% 26% €2,60 180 64% 22% €2,20 170 63% 18% 160 €1,80 62% 150 €1,40 14% €1,28 €1,40 €1,25 61% 140 130 60% 10% €1,00 In €k 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 2014 2015 2016 2017* 2018 * 2017 reflects increased dividend due to the sale of Added value per FTE Added Value % revenues Nsecure 15

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