Buildinga trusted

digital world

WALLIX today

> €23m gross cash

c. 200employees

c. 90countries

c. 300distributors

& integrators

> €20m2020 turnover

c. 1,600clients served

4European leader in Identity & Accesscybersecurity solutions to securebusinesses’ digital future

5

3

5

5> 200 employees worldwide

WALLIX subsidiariesWALLIX sarl, WALLIX US Corp, CYBERSECURITE WALLIX CANADA Inc., WALLIX IBERICA Sl, WALLIX GmbH

R&D centersParis, Rennes, Madrid

WALLIX offices and representatives

Countries covered by sales network

Subscription& services

Client base

x3Business expertise

ComprehensivePAM offer

extended to IAM

Global presence

80% of the market

Success of Ambition 2021 plan

Nearly 1,600 clients Large groups, SMEs, public institutions

ProductsPAM: Bastion

EPM: BestSafeIDaaS: Trustelem

MFA: Authenticator

50% recurring businessin H1 2021

Solutions tailored to specific sector requirements

40% of turnover from international salesin H1 2021

2acquisitions

6

PAM = Privileged Access Management / IAM = Identity and Access Management

You are not protected

How do you properly secure an asset?

Build a door with a key (password safe): the key is needed to enter

Install a camera so that you know who is in the building (session recording)

Use fingerprints to check identity (MFA –Multi-Factor Authentication)

Hire a guard to make sure everything is done according to the rules (EPM – Endpoint Privilege Management)

7

You are protected

Business Applications

Business Applications

PAMBASTION

Resources Creation

StandardUsers

Privileged AccountUsers

A comprehensive suite of solutionsFor secure identity and access management

WALLIX Trustelem

IDASS

MFA Multi-Factor Authentification

WALLIX Best Safe

PAMSession & Access Management

WALLIX Bastion

EPMEnd Point Privilege Management

Offer acknowledged by industry analystsGartner & KuppingerCole 2021

Transition from niche player to challenger in under a year

WALLIX, the only European supplier among the 10 companies

WALLIX once again voted Overall Leader in the Privileged Access Management market

Recognition of our advanced features, new capabilities and extended product suite

• Successful business execution withan excellent product/price balancefor small and large businesses.

• Efficient session management andprivilege elevation & delegationsolutions.

• Leading player in SessionManagement

• Strong multi-tenant andhigh-availabilitymanagement

• Supports a wide range oftarget systems

9

Nearly 1,600 active clients

300

420

570

770

1,045

1,310

1,575

Number ofactive clients

26%

19%

13%

15%

10%

9%

8%

Public services ans education

Financial services

Retail and services

Manufacturing & utilities

Healthcare

Telecoms

Other

Breakdownby sector

97%retention rate

10

Healthcare, a strategic business vertical

PORTFOLIO OF

> 160 CLIENTS

POTENTIAL TARGET MARKET

> €150mIn 2025 (France, UK, Germany)

WE PROTECT CRITICAL PATIENT DATA AND EQUIPMENT TO ENSURE

CONTINUITY OF CARE.

* Company estimate

11

IDEAL TARGETFOR HACKERS

Vulnerable equipment / ultra-sensitive private data (DMP medical records)

Protection of new digital uses in a hospital environment

Industrial cybersecurity,meeting the challenges of future industry

WALLIX guarantees security of accessto connected industrial systemsand equipment

Remote access to core production

Cloud

12

PORTFOLIO OF

> 120 CLIENTS

OT CYBERSECURITY

A MARKET ESTIMATED AT

> €320m per year*in 2025

32% per yearaverage growth 2021-2025

* VPA research survey (2019)/Company estimate

80% of the accessible world market

WALLIX offices and representatives

Countries covered by sales network

WALLIX Client Success Center

24 ELITE49 PREMIER

1 VAD3 PREMIER

2 ELITE1 PREMIER

1 ELITE9 PREMIER

IT BASTION

15 VAD23 ELITE

21 PREMIER

New partership

4 ELITE3 PREMIER

CEE CIS

15 VAD17 ELITE

65 PREMIER

1 VAD10 ELITE

8 PREMIER

13

c. 300resellers & integrators

-6 000

-4 000

-2 000

-

2 000

4 000

6 000

8 000

10 000

-

2 000

4 000

6 000

8 000

10 000

12 000

14 000

S1 2014 S2 2014 S1 2015 S2 2015 S1 2016 S2 2016 S1 2017 S2 2017 S1 2018 S2 2018 S1 2019 S2 2019 S1 2020 S2 2020 S1 2021 S2 2021

Half-yearly operating profit Half-yearly turnover

WALLIX has the financial resourcesto support its organic growth

IPO Ambition 2021

Turnover x5between 2014 and 2020

14

Cash & cash equivalents

€22.7mJune 30, 2021

Average annualrevenue growth

> 30%2014-2021

Operating profit forecast for

H2 2021

Buoyant market trends

Cybercrime: third-largestglobal economyin 2021

Source:

$16.4 billionper day in 2021$6,000 billion per year

$8.2 billionper day en 2015$3,000 billion per year

$28.8 billionper day in 2025$10,500 billion per year

The cost ofcybercrime

16

Technology & new digital uses,vectors of new risks

Smart Mobility

Cloud

Automatisation

Smart Building

WFH

Remoteaccess

IoT

Interconnexion IT to OT

17

5G

Devops

New cybersecurity challenges

Networkprotection

Computersecurity

Antivirus

Firewall & VPNIAM & OT Security

Mobility, identity anddata access protection

PAM / MFA / IGA / SSO

1980 2010 2030

18

2020

Smart Mobility

Cloud

Automatisation

Smart Building

Télétravail

Accèsdistants

IoT

Interconnexion IT to OT

5G

Devops

19Cybersecurity,central to today’s societies

Information system security

Secure admin. access

Identify usersand secure

access to all and any(people & objets)

Cybersecurity

Accèsdistants

INNOVATION

INTERCONNECTIONIT / OT

OPERATIONAL AGILITY

Data protection: something society expects

From compliance … … to the value proposition

20

The individual challengeof protecting privacy

The organizational challenge of protecting companies with sensitive assets

Technology-driven boom in access

Acce

ss v

olu

me

Changing uses

PAM

IAM

MOBILITYCONNECTED DEVICES

21

PAM and IAM markets poised for strong growth until 2025

49%

31%

20%

2021

27%

18%

55%

Strong growth in subscription…

$19bnin 2024

2025

+11.5%Per year2021-2024Licenses

Maintenance

Subscriptions

IAM marketPAM market

$3.1bnin 2025

$1.5bnin 2021

Source: Kuppingercole / Gartner

22

21% per yearaverage growth of the PAM market over 2021-2025

23

WALLIXideallypositioned...

ECOSYSTEM

TECHNOLOGY

CLIENTS

24

PAMfor all

UNICORN 25

2025

25

€100m

A world-class European champion

2020

EMBEDDED CYBERSECURITY

IAMEXTENSION

€100m

€20m

Self-funded growth trajectory

PAM LEADERSHIP

INTERNATIONAL EXPANSION

UNICORN 25

Operational efficiency Alliances Certification

2025

26

IT administrator with privileged account

Acce

ss v

olu

me

Changing uses

WALLIX BestSafe

WALLIX Bastion User accounts

Least privilege

PAMLEADERSHIP

• Increase our clients’ target population

• Penetrate new markets (cloud/native SaaS players) such as retail, media, etc.

Cloud

Workstations

BASTION for cloud

UNICORN 25

27

EXTENSION OF THE OFFER INTO IAM

• Additional identity and access management and governance offers

• Increase client valueSecure access in IAM

(IDaaS, MFA, IGA, SSO, etc.)

…WALLIX Trustelem

WALLIX Authenticator

UNICORN 25

28

Acce

ss v

olu

me

Changing uses

Winner of the“Grand Défi Cyber”

OSCAR

Secure industrial& robotics systems, the world of machines

OT Security & IoT

EMBEDDED CYBERSECURITY

• Enable equipment manufacturers to provide products or services with embedded WALLIX technologies

• Secure access to industrial equipment and data flows

WALLIX Inside

UNICORN 25

29

Acce

ss v

olu

me

Changing uses

PAM for all: a secure digital transformation FOR EVERYONE, ANYWHERE, ANYTIME

Privileged accessaccounts

User accounts

Identities

Objects & equipment

OSCARWALLIX

TrustelemWALLIX BestSafe

WALLIX Bastion

…BASTION for cloud

WALLIX Inside

UNICORN 25

30

Acce

ss v

olu

me

Changing uses

A global player

Consolidate European leadership

2025target

International turnover

x 7.5Global coverage

Reinforce positionsin the US market

31

UNICORN 25

WALLIX offices and representatives

Countries covered by sales network

WALLIX Client Success Center

International product certificationallows access to regulated markets

Certification portfolio

UNICORN 25

57%of US GDPfor regulated sectors

>15,600Essential servicesoperators

32

Multi-channel distribution tailoredto client types and uses

UNICORN 25

33

Strategic key accounts

CAC 40, Fortune 500 France and International

CHANNEL

Global network of distributors (VAD & VAR) trained in WALLIX

products (WALLIX Academy)

ALLIANCES

Product integrated by design into industrial solutions.

Increase interoperability with complementary solutions and

platforms (cloud, IoT, etc.)

Medium & large accounts

GLOBAL ACCOUNT MANAGEMENT & GSI

A dedicated WALLIX team + Large Integrators for direct

management of strategic key accounts serving as cyber experts in the field

Technologies MSSP

Industry4.0

Cu

rren

t co

re t

arg

et

A powerful & global ecosystemto support development

UNICORN 25

Research partner

Global and industrialized trade partnership program

Development of vertical offers(OT, healthcare, cloud, etc.) through alliances with industry experts. Packaged business offers

MSSP CLOUDAWS, Azure, GCP, open stack marketplace, rolloutvia a hypervisor console (HyperV, VMWare)

Technology alliances, interoperability with the standard cybersecurity ecosystemEcosystème

WALLIXACADEMY

34

Operational efficiency & company structuringto support business growth

Operational excellence

Client focus

Talent Management Agility

Product culture

UNICORN 25

35

CSR Ambition

Sustainability commitment

CSR rating:

56

Wallix Benchmark

37

GOVERNANCE

SOCIAL

ENVIRONMENT

EXTERNAL STAKEHOLDERS

Change in governance

Further developmentof CSR

Digitalresponsibility

Enhanced governance 38

Shift to limited company status with Board of

Directors

Reinforcementof the Board

Independent directors

Creation of committees

Extended management team

Social & environmental commitment

Certified

for the second consecutive year, with a score of 4.14/5

39

Gender balance, diversity, employee inclusion

Promote diversity& gender equality

Combat all forms ofdiscrimination including

disabilityin hiring, pay and

career development

Promote career paths (professional integration of

graduates, internal mobility, skills development)

Ensure well-being at work

Foster civic engagement within the company

Foster employee engagementin respect of cybersecurity & cyberstalking risk

Minimize the impact of our business on the environment,reduce wasteand promote recycling

WFH policy

Convergence towards paperless environment

GDPR-compliantdata privacy policy

undertakes to help build a trusted

European digital space

39

Security and privacy of organizational dataProtection of

individuals’ digital identity

Respectfor privacy

Awareness and training

Summary

World-class European leader, for a trusted digital world

OSCAR

2021

200 pers.

2025Increase international business by a factor of 7.5EMEA and North America

Recurring business model

Strengthen technological leadership

World leader in strategic sectors(healthcare, industry, etc.)

Play a unifying role for the sector in Europe

UNICORN 25

POTENTIAL ACQUISITIONS

to acquire new technological building blocks and/or step-up international deployment

42

UNICORN 25

PAM 4 ALL

CA

PE

X

OR

GA

NIC

GR

OW

TH

Invest inour employeesR&D and Sales & Marketing

Planned headcount increase

Technologicalinvestments

2020 2021 2022 2023 2024 2025

€100m

€20m

Self-funded capex

of €10m,

of which 40-50% in 2022

EBIT Target

> 15%

Positive free cash flow over the plan period

Recurring revenue model

Organic growth

>30% CAGR

External growth opportunities

43

UNICORN 25

Operating Profitabilityfor H2 2021

€20m cash

UNICORN 25

World-class European leader, for a trusted digital world

44

PAMfor all

UNICORN 25

THANK YOU

finance@wallix.com