VERIMATRIX: Verimatrix: Resilient 2020 Annual Performance in a Challenging Context $95 million revenue in 2020 Consolidated revenue (IFRS) down only 3% year-over-year 58%: contribution of recurring revenue to total revenues (+ 3 points vs. 2019) 24%: growth of subscription-based business to $5 million in revenue Annual Reccurring Revenue Demonstrated resilience to Covid-19 pandemic with core software business down only 8% year-over-year 2 Operating margins at a record high Core business EBITDA up 16% year-over-year 1 Continuous investment in innovation, marketing and sales alongisde tight control of expenses Solid financial position with $48.6 million in cash and cash equivalents and no short-term debt 2021 objectives Mid-single digit core business revenue growth including a double digit growth of recurring revenues and flat EBITDA to support transition towards SaaS business model