GFT Technologies SE

Dr Jochen Ruetz (CFO)

October 2017

Investor Presentation

2GFT GROUP

TRACKER

Ag

en

da

October 2017

1. GFT at a glance

2. GFT business model

3. Financial results prelim. Q3/2017

4. Outlook

5. Appendix

3GFT GROUP

TRACKER

October 2017

IT solutions for financial services

Business change and

technology consultancy for

financial institutions:

Capital Markets

Retail Banking

Private Wealth

Insurance

Approx. 50% of revenues from

Investment Banks and 50% from

Retail Banks

4,700 employees (FTE) and

more than 600 freelance IT

experts

Integrated onshore / nearshore

approach with development

centers in Spain, Poland, Brazil

and Costa Rica

Approx. 50% of revenues

generated onshore and 50%

nearshore

Strategic IT partner Global delivery model

1 GFT at a glance

4GFT GROUP

TRACKER

October 2017

Proven onshore-/ nearshore delivery model (approx. 4,700 FTE)

1 GFT at a glance

Canada

Toronto

USA

Boston

New York

Costa Rica

Heredia

Mexiko

Mexico City

Alphaville

Curitiba

São Paulo

Sorocaba

Germany

Bonn

Eschborn/Frankfurt

St. Georgen

Stuttgart

Italy

Florence

Genoa

Milano

Montecatini Terme

Padova

Piacenza

Siena

Torino

Spain

Alicante

Barcelona

Lleida

Madrid

Valencia

Zaragoza

Poland

Lodz

Poznan

Warsaw

Switzerland

Basel

Zurich

UK

London

Americas

& UK

Continental

Europe

Brazil

5GFT GROUP

TRACKER

October 2017

Key figures

1 GFT at a glance

174

279

374423 415

0

100

200

300

400

500

2013 2014 2015 2016 2017e

Revenue (€m)

19

33

45 47

34

0

10

20

30

40

50

2013 2014 2015 2016 2017e

EBITDA (€m)

16

24

33 33

18

0

5

10

15

20

25

30

35

2013 2014 2015 2016 2017e

EBT (€m)

2,016

3,131

4,050

4,8704,600

0

1000

2000

3000

4000

5000

6000

2013 2014 2015 2016 2017e

Employees (FTE)

6GFT GROUP

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30 biggest clients H1/2017 – three new entries

1 GFT at a glance

Insurance

& Others

Private

Wealth

Retail

Banking

Capital

Markets

October 2017

7GFT GROUP

TRACKER

October 2017

GFT share and shareholder structure

1 GFT at a glance

15

25 25

30 30

0

5

10

15

20

25

30

35

2012 2013 2014 2015 2016

Dividend per share (cent)

Shareholder structure

01/01/2015€ 12.42

31/08/2017€ 15.84

50

100

150

200

250

300

31.12.14 31.03.15 30.06.15 30.09.15 31.12.15 31.03.16 30.06.16 30.09.16 31.12.16 31.03.17 30.06.17

GFT TecDAX

GFT share indexed %

26%

10%64%

Ulrich Dietz

Maria Dietz

Free float

8GFT GROUP

TRACKER

Ag

en

da

October 2017

1. GFT at a glance

2. GFT business model

3. Financial results prelim. Q3/2017

4. Outlook

5. Appendix

9GFT GROUP

TRACKER

Business areas of GFT insidethe banks

October 2017

Sun deck

Innovation

Approx 10 % of ITS budget

Engine room

Core Banking, middle & back

office projects

Approx. 50 % of IST budget

Tween deck

Risk & Compliance projects

front office

Approx. 40 % of IST budget

Das Raster muss

Johannes noch

finetunen, kann man

transparenter

gestalten.

Sun deck

Innovation

Approx. 10% of ITS budget

Engine room

Core Banking, middle & back

office projects

Approx. 50% of ITS budget

Tween deck

Risk & Compliance projects

front office,sales channels

Approx. 40% of ITS budget

2 GFT business model

Business areas of GFTinside the banks

10GFT GROUP

TRACKER

October 2017

Three main growth drivers

Regulation

Increasing compliance and regulatory requirements esp. for Investment Banks

Implementation of

applications for new data

analysis and reporting

standards

Onshore consultancy by

industry experts and

nearshore implementation

services

Challenges Needs Solutions

Digitalisation

FinTechs increasingly

occupying parts of the

value chain

Restructuring the business

model to offer more digital

customer-centric services

Digital Innovation Lab with

prototypes of innovative

solutions for the bank of

the future

Margin pressure

Pressure to reduce costs

for maintaining core

banking systems

Outsourcing of IT Services

to geographical areas with

cost-effective workforce of

IT experts

IT services at attractive

prices by nearshore hubs

in Spain, Poland, Brazil

and Costa Rica

2 GFT business model

11GFT GROUP

TRACKER

October 2017

GFT Regulatory Change Management Service

Home screen shows the firm-wide status of compliance,

with action areas highlighted in red

Enormous value for banks – each regulation is interpreted

as it evolves and banks can clearly see the areas of their

business that need to be addressed to ensure they

achieve regulatory compliance

2 GFT business model

12GFT GROUP

TRACKER

Blockchain in Action - Emerald

October 2017

“As part of our vibrant innovation agenda, Royal Bank of Scotland have built Emerald, a viable alternative clearing and settlement mechanism using distributed ledger technology.

We are pleased to have GFT involved as they bring expertise, tenacity andtooling to this emerging technology. The use of GFT enables us to maximize thechances of gaining the best results in the performance and scaling testing of thisnew platform.”

Richard Crook, Head of Innovation Engineering, RBS

2 GFT business model

GFT has joined the Google Cloud Platform´s partner program, enabling tosimulate and deploy blockchain test infrastructure for banks an theplatform

13GFT GROUP

TRACKER

October 2017

Digital customer will change the use of bank channels

-25

-13

37

56

64

Disruption anticipated

Bankers expect changes

in customer channels

Branch Phone MobileOnline Social

Percent change anticipated 2015-2016

(Source: PwC´s Global Digital Banking Survey, 2015)

2 GFT business model

14GFT GROUP

TRACKER

October 2017

Digitalisation leads to a structural change in banking

Pro

du

ct

layer

Product

specialists

Customer interface

Brand, marketing

Quality, assurance &

product selection

Customer

View

Mayor retail banks

Digital-only banks

Global technology

players, e.g. Apple,

Amazon

Scaled banks

Specialised providers,

such as Fintechs,

insurance companies

Activities Players Developments

The Invisible

Bank

e.g. O2 Banking

Pla

tform

layer

e.g. Smart ContractsPro

cess

layer

2 GFT business model

Manufacture products

Product platform service

Combining non-banking

and banking products

Banking as a platform

Facilitate payments

Identity, risk and security

management

Regulation & taxation

Scaled banks

New banks, e.g. Fidor

Major outsourcers

Fintechs, e.g. Paypal

15GFT GROUP

TRACKER

October 2017

O2 Banking – Germany‘s first mobile bank account

Germany’s first fully-fledged mobile banking service, offered

by Telefonica

Jointly developed by GFT and Fidor, launched in July 2016

Implementation of basic and advanced banking functions

including instant payment and interfaces to the core

banking system

Rewarded with the Diamond Star Award (Handelsblatt and

EUROFORUM) in the “Digital Retail Banking” category as

“outstanding digital innovation”

2 GFT business model

16GFT GROUP

TRACKER

October 2017

Person to Person money transfer with Jiffy

2 GFT business model

SEPA based person-to-person

service to transfer money real

time through a smartphone app

Joint development with SIA SpA

About 23 groups of financial

institutions offer the service for more

than 32 million bank accounts in

Italy (this corresponds to more than

80% of all accounts in Italy)

17GFT GROUP

TRACKER

October 2017

PEAK OF INDECISIONlocal = high price / nice price = abroad

50% 50%

Onshore Nearshore/OffshoreStrategy Advisory

(McKinsey, BCG)

Indians

(HCL, Tata, Wipro)

Low day rateHigh day rate

GFT

Margin pressure in banks

2 GFT business model

18GFT GROUP

TRACKER

Ag

en

da

October 2017

1. GFT at a glance

2. GFT business model

3. Financial results prelim. Q3/2017

4. Outlook

5. Appendix

19GFT GROUP

TRACKER

Preliminary financial results 9M/2017

October 2017

In €m 9M/2017 9M/2016 ∆%

Revenue 316.52 314.28 1%

Revenue organic 308.51 310.74 -1%

EBITDA 29.10 34.00 -14%

EBIT 17.85 25.40 -30%

EBT 16.68 23.71 -30%

Net income 14.19 18.08 -22%

IAS earnings per share € 0.54 € 0.69 -22%

Permanent employees (FTE) 4,666 4,749 -2%

3 Financial results prelim. Q3/2017

20GFT GROUP

TRACKER

October 2017

In €mQ1

2016

Q2

2016

Q3

2016

Q4

2016

FY

2016

Q1

2017

Q2

2017

Q3

2017

9M/

2017

Revenue 97.39 110.64 106.25 108.28 422.56 111.10 106.67 98.75 316.52

EBITDA 10.15 11.39 12.46 12.71 46.71 9.92 8.42 10.76 29.10

EBIT 7.40 8.46 9.54 9.39 34.79 6.95 3.32 7.58 17.85

EBT 7.04 7.56 9.11 9.34 33.05 6.63 2.89 7.16 16.68

Net income 5.57 6.63 5.88 6.15 24.23 4.99 3.12 6.08 14.19

IAS earnings per share € 0.21 € 0.25 € 0.23 € 0.23 € 0.92 € 0.19 € 0.12 € 0.23 € 0.54

Permanent employees (FTE) 4,159 4,493 4,749 4,870 4,870 4,833 4,739 4,666 4,666

Preliminary financial results per quarter

3 Financial results prelim. Q3/2017

21GFT GROUP

TRACKER

Ag

en

da

October 2017

1. GFT at a glance

2. GFT business model

3. Financial results prelim. Q3/2017

4. Outlook

5. Appendix

22GFT GROUP

TRACKER

October 2017

Banking and Securities IT Spending

4 Outlook

Source: Gartner, Total Banking and Securities IT Spending by Segment, Worldwide, April 2017 (Billions of U.S. Dollars)

86.1 87.9 89.9 91.9 93.9 95.9

176.8 181.5 190.8 200.9 211.5 223.0

70.6 75.280.7

86.693.0

99.929.1

29.830.9

32.032.3

32,195.6

94.695.2

95.696.2

96.628.1 28.4

28.929.4

29.829.8

2016 2017 2018 2019 2020 2021

Data Center Systems

Telecom Services

Devices

Software

IT Services

Internal Services

CAGR

2016-2021

1.1%

0.2%

2.0%

7.2%

4.8%

2.2%

3.5% Total

23GFT GROUP

TRACKER

October 2017

Regulatory Roadmap

4 Outlook

24GFT GROUP

TRACKER

October 2017

Digital revenue opportunities for banks

Source: Gartner October 2016

Financial services CEOs

and CIOs expect digital

revenue to more than

double in most regions

In North America they

expect digital revenue to

nearly quadruple by 2021

They expect their digital

initiatives to force more

business through cheaper,

more efficient online

channels

9

20 201716

3431

28

36

55

49

43

0

10

20

30

40

50

60

North America Latin America EMEA Asia Pacific

Expectations for digital revenue growth

2016

2018

2021

4 Outlook

(average percentage of revenues)

25GFT GROUP

TRACKER

Market Analysis Industry 4.0

October 2017

Technology perspective our strengths Challenges for our clients our strengths

Industrial Robotics

Cyber Security

Internet of Things

3D Printing

Big Data Analytics

Advanced HMI

Augmented Reality

& Virtual Reality

Artificial Intelligence

2022

2017

81.47

46.86

19.34

11.53

16.18

6.03

14.51

4.42

9.13

3.66

5.29

3.34

2.77

0.44

3.61

0.35

Source: MarketsandMarkets 2017 Source: Gartner 2017

Difficulty in predicting business benefits

Security concerns

Cost/funding concerns

Implementation/integration complexity

Privacy concerns (for example, of

customer or enterprise data)

Potential risks or liabilities

Regulatory issues/concerns

Technology is immature

Resistance to change

within the organization

Insufficient time or resources to

develop ideas to benefit from IoT

Lack of necessary staff skills

Fragmented executive leadership

No real leadership for IoT within the

organisation

Ranked 1st Ranked 2nd Ranked 3rd Sum

12 12 10

12 10 10

10 10 9

8 9 9

8 7 9

7 8 8

7 7 8

7 7 7

7 7 7

7 6 7

5 7 7

5 5 5

4 5 4

Percentage of Respondents

35

32

29

25

25

23

23

21

20

20

19

15

13

0 10 20 30 40

Industry 4.0 market in 2017 and 2022 (market size in $bn) Top Barriers to IoT Success in Organisations

4 Outlook

26GFT GROUP

TRACKER

GLOBAL DELIVERY MODEL Platform Based Business

4.000

200APPLIED TECHNOLOGY UNIT

Business Consulting / Sales

FINANCIAL SERVICES UNIT INDUSTRIAL SOLUTIONS UNIT

BaaP Supply Chain / Embedded FinanceReg. Automation Cognitive Insurance

Partner & Ecosystem / Sales

BANKING

INNOVATION LAB

Platform Integration

Managed Service

Internet of Things

Blockchain Artificial Intelligence

Cloud Data Analytics

From managed service to platform based business

October 2017

4 Outlook

27GFT GROUP

TRACKER

Guidance update 10/2017

Revenue: € 415m

(prev.: € 425m)

EBITDA: € 34m(prev.: € 42m)

EBT: € 18m

(prev.: € 26m)

Reduced margins from business due to

missing contributions from lower

revenues: € -3.5m vs. prev. guidance

Weaker utilisation due to revenue

reductions: onshore utilization € -2.1m

(prev. guid. € -1.1m) and nearshore

utilization € -2.0m (prev. guid. zero)

Increased investments in growth:

€ -3.5m (prev. guid. € -2.3m)

Increased negative FX translation

effects: € -2.2m (prev. guid. € -1.7m)

Bonus accrual release due to weak

Group earnings: € +1.4 (prev. guid. zero)

Further revenue reductions trigger

higher restructuring costs: € -2.8m

(prev. guid. € -1.8m)

Mecemsa acquisition leads to one time

PPA orderbook adaption: € -0.2m

Mecemsa acquisition leads to a minor

increase of PPA amortization (estimate,

final calculation of PPA effects still

ongoing): € -5.7m (prev. guid. € -5.5m)

Lower cost for interest: € -1.8m

(prev. guid. € -2.0m)

Top 2 investment banking customers:

- € -42m vs. previous year (-27% yoy)

- € -10m vs. previous guidance (-8%)

All other investment banking

customers (besides Top-2):

- € + 6m vs. previous year (+13% yoy)

- € - 2m vs. previous guidance (-4%)

All retail banking customers:

- € +29m vs. previous year (+13% yoy)

- € + 2m vs. previous guidance (+1%)

Overall revenue:

- € - 8m vs. previous year (-2% yoy)

- € -10m vs. previous guidance (-2%)

October 2017

4 Outlook

28GFT GROUP

TRACKER

Going forward

October 2017

28% reduction of people

Overhead structure right sized & senior management exchanged

Utilization improved by 10% per mid Q4

Delivery mix changed from onsite to nearshore

CLEAN

UP

SCALE

UP

Continued improvement of OPERATIONAL EXCELLENCE

EXPAND FINANCIAL SERVICES: Continue to broaden the client base

Growth opportunity: GO INDUSTRY

Increased INVESTMENTS into Applied Technology Unit

UK/US

Global

4 Outlook

29GFT GROUP

TRACKER

Guidance 2017 and preview 2018

423425

415 415

2016 2017old

2017new*

2018**

+0.5%-2%

0%

Revenue EBITDA EBT

46.7

42.0

34.0

39.0

2016 2017 old

2017new*

2018**

-10%

33.1

26.0

18.0

25.0

2016 2017old

2017new*

2018**

-21%

Revenue

2022

EB

ITD

A m

arg

in 1

2%

800

-19%

-31%+15% +39%

Cost-containment programmes of the two major customers in investment banking will extend into 2018

Stable business development with the two major clients on a par with the fourth quarter of 2017

Further dynamic revenue growth from digital solutions for the finance sector

Expansion of digital solution offering for industrial clients

Mid-term guidance confirmed: revenue of € 800m by the year 2022 at 12% EBITDA Margin

* New guidance as of October 2017 / ** 2018 Preview

October 2017

4 Outlook

30GFT GROUP

TRACKER

Ag

en

da

October 2017

1. GFT at a glance

2. GFT business model

3. Financial results prelim. Q3/2017

4. Outlook

5. Appendix

31GFT GROUP

TRACKER

Financial Results H1/2017

October 2017

32GFT GROUP

TRACKER

Key figures

Revenue

+5%

EBITDA

-15%

EBT

-35%

Employees

+5%

EBITDA includes extraordinary items of € -1.40m for adapting the sales organisation in the UK and USA to changed market conditions

EBITDA includes extraordinary item of € -0.50m Earn-out accrual for Habber Tec Brazil acquisition

Weaker utilisation in Anglo-Saxon markets

FX translation effects of € -2.16m due to weaker GBP and stronger BRL(H1/2016 € -2.43m)

EBT excluding extra-ordinary items -8%

EBT includes extraordinary items of € -2.00m for impairment loss

EBT includes € -0.38m costs for innovation project CODE_n

Employee growth to 4,739 (H1/2016: 4,493)

Compared to 31 Dec 2016 headcount fell by 3% due to restructuring measures and falling demand in UK and USA

External purchased services (Freelancers) reduced by 11%

Total revenue growth of 5% to € 217.77m

Habber Tec Brazil contributed € 5.22m

Organic growth of 3% (5% at constant currencies)

October 2017

Financial results H1/2017

33GFT GROUP

TRACKER

In €m H1/2017 H1/2016 ∆%

Revenue 217.77 208.03 5%

Revenue organic 212.55 206.81 3%

EBITDA 18.34 21.54 -15%

EBIT 10.27 15.86 -35%

EBT 9.52 14.60 -35%

EBT w/o extraordinary items 13.42 14.60 -8%

Net income 8.11 12.21 -34%

IAS earnings per share € 0.31 € 0.46 -34%

Permanent employees (FTE) 4,739 4,493 5%

Results at a glance

Financial results H1/2017

October 2017

34GFT GROUP

TRACKER

In €mQ1

2016

Q2

2016

Q3

2016

Q4

2016

FY

2016

Q1

2017

Q2

2017

H1

2017

Revenue 97.39 110.64 106.25 108.28 422.56 111.10 106.67 217.77

EBITDA 10.15 11.39 12.46 12.71 46.71 9.92 8.42 18.34

EBIT 7.40 8.46 9.54 9.39 34.79 6.95 3.32 10.27

EBT 7.04 7.56 9.11 9.34 33.05 6.63 2.89 9.52

Net income 5.57 6.63 5.88 6.15 24.23 4.99 3.12 8.11

IAS earnings per share € 0.21 € 0.25 € 0.23 € 0.23 € 0.92 € 0.19 € 0.12 € 0.31

Permanent employees (FTE) 4,159 4,493 4,749 4,870 4,870 4,833 4,739 4,739

Results at a glance per quarter

Financial results H1/2017

October 2017

35GFT GROUP

TRACKER

Revenue per segment

in €m

Revenue ∆%

H1/2017 H1/2016 Organic M&A FX Total

Americas & UK 105.77 110.84 -3.7% 3.6% -4.5% -4.6%

Continental Europe 111.55 96.71 15.2% 0.0% 0.1% 15.3%

Others 0.45 0.48 n/a n/a n/a n/a

GFT 217.77 208.03 4.9% 1.9% -2.2% 4.7%

Financial results H1/2017

October 2017

36GFT GROUP

TRACKER

in €m

EBITDA EBT

H1/2017 H1/2016 ∆% H1/2017 H1/2016 ∆%

Americas & UK -1.05 7.45 < -100% -6.33 4.45 < -100%

Continental Europe 18.05 13.25 36% 14.92 10.06 48%

Others 1.34 0.84 60% 0.93 0.09 >100%

GFT 18.34 21.54 -15% 9.52 14.60 -35%

EBITDA & EBT per segment

Delta H1/2017 vs H1/2016 (€ -10.8m):

€ -3.90m Profit from business operations

€ -1.50m Sales Investments Retail Banking

€ -1.40m Expenses for adapting of sales organisation

€ -1.00m GBP/PLN devaluation

€ -0.50m EUR/BRL devaluation

€ -0.50m Earn-out accruals Habber Tec Brazil

€ -2.00m Impairment loss

Financial results H1/2017

October 2017

Delta H1/2017 vs H1/2016 (€ +4.9m):

€ +3.70m Profit from business operations

€ +1.20m Improved margins in CH (“back to normal”)

37GFT GROUP

TRACKER

Revenue by countries

€ 6.93m

€ 4.69m

€ 6.19m

€ 24.73m

€ 27.48m

€ 73.42m

€ 37.11m

€ 27.48m

UK

Spain

Italy

Germany

USA

Brazil

Switzerland

-14%

21%

0%

6%

-7%

92%

89%

∆%

Other countries 36%

€ 63.49m

€ 44.94m

€ 27.52m

€ 26.21m

€ 25.42m

€ 11.89m

€ 8.84m

€ 9.46m

H1/2017 H1/2016

36%

18%13%

12%

13%

3%2% 3%

H1/2016: € 208.03m

29%

21%13%

12%

12%

5%

4% 4%

H1/2017: € 217.77m

Financial results H1/2017

October 2017

38GFT GROUP

TRACKER

Currency distribution H1/2017

64%

19%

6%

6%6%

Revenue

EUR

GBP

USD

BRL

PLN

Others*

58%

14%

5%

9%

7%

7%

Costs

EUR

GBP

USD

BRL

PLN

Others*

*Others include: CHF, MXN, CAD, CRC, PEN

Financial results H1/2017

October 2017

39GFT GROUP

TRACKER

Detailed profit & loss statement

in €m H1/2017 H1/2016 ∆%

Revenues 217.77 208.03 +5%

Other operating income 1.07 2.16 -51%

Cost of material & purchased services -27.12 -30.58 -11%

Personnel expenses -141.55 -126.55 +12%

Other operating expenses* -31.83 -31.52 +1%

EBITDA 18.34 21.54 -15%

Depreciation and amortisation -8.07 -5.68 +42%

EBIT 10.27 15.86 -35%

Interest and similar expenses/income -0.75 -1.26 -40%

EBT 9.52 14.60 -35%

Taxes on income -1.41 -2.39 -41%

Net Income 8.11 12.21 -34%

IAS earnings per share (in €) 0.31 0.46 -34%

* Other operating expenses including profit share from associates and depreciation in securities

Financial results H1/2017

October 2017

40GFT GROUP

TRACKER

Balance Sheet (in €m)

166.66 175.54

135.26 128.21

41.4162.29

343.33

366.04

114.28 117.18

90.95

134.65

138.10

114.21

343.33

366.04

30/06/2017 31/12/2016 30/06/2017 31/12/2016

Assets Liabilities

Cash

& Securities

Other

Current

Assets

Non-Current

Assets

Non-Current

Liabilities

Equity

Current

Liabilities

Financial results H1/2017

October 2017

41GFT GROUP

TRACKER

-104.34

62.29

-8.49

-9.26 -3.00 -0.13

41.41

-63.77

-42.05

-105.18

Cash Flow analysis (in €m)

31/12/2016 30/06/2017H1/2017

Cash FX

effects

Operating

Cash Flow

Financing

Activities

Investments Cash Financial

liabilities

Net cashNet cash Financial

Liabilities GFT’s biggest clients overpay in

December in order to utilise internal

budgets. Overpaid amount indicated

by light blue colour

31/12/2015 = € 6.34m

31/12/2016 = € 4.55m

Negative development in the operating

cash flow as usual at the beginning of a

year. Development in H1/2017 mainly

attributed to reduced trade accounts

payable.

Financing Activities mainly influenced by

dividend payment as of June 2017

Financial results H1/2017

October 2017

42GFT GROUP

TRACKER

1,5101,807 1,802 1,813 1,859 1,977 2,023 2,023 2,032

351

409 454 479676

757 797 727 688

451

458 499 536

551550

554 568 571

442

471489 503

532

590594 576 532

272

273276

285

289

287310 323 325

222

229241

243

237

237235 227

201

173

250289

300

349

351357 389

390

3,421

3,8974,050

4,159

4,493

4,7494,870 4,833

4,739

0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Q2/2015 Q3/2015 Q4/2015 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017

Others

UK

Germany

Poland

Italy

Brazil

Spain

Financial results H1/2017

Employees by countries (FTE)

October 2017

43GFT GROUP

TRACKER

Peer Group

October 2017

44GFT GROUP

TRACKER

Peer group (limited comparability – not focused on financial sector)

October 2017

Unternehmen FXShare price Market cap EV/sales EV/EBITDA PE

Local curr Local curr m's 2017e 2018e 2017e 2018e 2017e 2018e

1) European-based IT services / financial sector consulting

REPLY (€m) 194.30 1,817 2.0 1.8 14.2 12.7 23.5 20.7

Devoteam (€m) 75.31 627 1.0 0.9 10.3 9.3 22.5 19.7

First Derivatives (£m) 28.47 718 5.1 4.3 27.3 23.8 50.7 44.9

Indra Sistemas (€m) 12.82 2,265 1.0 0.9 10.7 8.8 18.4 13.6

Cap Gemini (€m) 91.98 15,558 1.4 1.3 10.2 9.4 15.5 14.3

2) Global IT services / financial sector consulting

Accenture ($m) 129.13 79,801 2.3 2.2 13.8 12.9 21.9 20.0

Cognizant ($m) 70.28 41,509 2.6 2.4 11.8 10.3 19.1 16.4

Luxoft ($m) 60.85 1,347 2.5 2.0 14.4 12.1 21.1 18.3

EPAM ($m) 81.83 4,298 2.7 2.3 15.1 12.7 24.3 20.2

3) Indian-based IT services / financial sector consulting

HCL Technologies (INR) 882.00 1,258,603 2.4 2.2 11.0 10.2 15.2 14.2

Infosys Ltd (INR) 963.85 2,213,910 2.8 2.6 10.1 9.9 15.4 15.1

Tata Consultancy Services (INR) 2,503.05 4,932,080 3.9 3.7 14.2 14.1 18.8 18.6

Wipro (INR) 287.40 1,398,607 2.1 2.1 10.6 10.6 16.7 16.1

Medians all 2.1 2.0 11.8 10.5 21.1 18.3

GFT Technologies (€m) 16.82 442 1.3 1.2 12.5 11.3 20.4 17.2

Source: Bloomberg August 2017

Appendix

45GFT GROUP

TRACKER

Shaping the future

of digital business

October 2017

GFT Technologies SE

Dr Jochen RuetzCFO

Schelmenwasenstrasse 3470567 Stuttgart

T +49 711 62042-0

jochen.ruetz@gft.com

GFT Technologies SE

Andrea WlcekGlobal Head of Communications

Schelmenwasenstrasse 3470567 Stuttgart

T +49 711 62042-440F +49 711 62042-301

andrea.wlcek@gft.com

GFT Technologies SE

Jutta StolpInvestor Relations Manager

Schelmenwasenstrasse 3470567 Stuttgart

T +49 711 62042-591F +49 711 62042-301

jutta.stolp@gft.com