Slides
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H1 2026 activity
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WALLIX today 2 WALLIX today 01
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European leader in Identity & Access cybersecurity solutions WALLIX today +244 employees in 16 countries (2025 average FTE) 100 countries covered +300 resellers & integrators €41m 2025 revenue 4,090 active contracts (30/06/2026) 3 R&D centers +€1bn Wallix Adressable Market 81% Recurring Business* (H1 2026) 3 (Subscriptions including managed services + maintenance) / total revenue
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Our solutions for a more secure digital world WALLIX today
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WALLIX A European cybersecurity champion Leader en France WALLIX today Leader in France WALLIX PAM obtained the ANSSI (France) Security Certification in October 2025* Leader in Germany WALLIX PAM obtained the BSI (Germany) Security Certification in October 2025 Leader in Europe Recognized as Overall Leader in the 2026 PAM Leadership Compass Global Visionary Recognized as Visionary in the 2025 Gartner® Magic Quadrant for PAM * Par mécanisme de reconnaissance mutuelle entre l’ANSSI et le BSI
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70 Elite partners out of more than 300 worldwide 6 Enhanced customer security governance through the support and expertise of local and sovereign partners WALLIX today
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Active contracts in all sectors and over 100 countries WALLIX today 7
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H1 2026 activity 8 H1 2026 activity 02
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Hyper-growth in MRR despite a complex environment 1,415 1,641 1,843 2,041 2,309 2,635 2,756 30/06/23 31/12/23 30/06/24 31/12/24 30/06/25 31/12/25 30/06/26 +26.1% H1 2026 activity 9 ARR* €33.1m at 30/06/2026 +19.4% Unaudited data at 30/06/2026 French GAAP MRR (€000) Share (%) Chg. (%) Total 2,756 100% +19.4% o/w France 1,646 60% +19.4% o/w EMEA excluding France 1,084 40% +20.6% 14th consecutive quarters of MRR hyper-growth +30.2% +32.9% +24.4% +25.2% +29.1%Unaudited data – French GAAP MRR (€000) and MRR 12-month growth *ARR = 12 x MRR 1 Recurring revenue = maintenance revenue + subscriptions + multi-year managed services
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10 Sustained growth despite temporary headwinds across strategic markets France Solid growth despite the delayed implementation of NIS2 NIS2 will expand the addressable market from 300 to 15,000 entities Northern Europe Team structuring and cautious OT market environment in Germany Strengthened organization positioned to accelerate growth across Germany and Northern Europe Middle- East Q1 impacted by the geopolitical environment Strong recovery in business momentum in Q2 H1 2026 activity
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More than 4,000 active contracts at 30 June 2026 220 300 420 570 770 1 045 1 310 2 273 déc.- 14 déc.- 15 déc.- 16 déc.- 17 déc.- 18 déc.- 19 déc.- 20 déc.- 21 déc.- 22 déc.- 23 déc.- 24 déc.- 25 2 928 Number of active contracts ×18 Since IPO + 406 contracts in 1 year 11 H1 2026 activity 1 891 3 529 +95% retention rate >100% revewal of contracts in value Clients base Powerful driver for growth through upselling 4,090 at 30/06/2026 3 907
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Business driven by essential industries and OT H1 2026 activity 12 Order intake H1 2026 AutresPublic sector Sciences Banking/Insurance Healthcare Transportation Utilities Technologies +75% in essential industries Growing share of in order intake 22% in H1 2026 across new contracts KuppingerCole et Gartner highlight WALLIX’s ability to address OT and industrial environments as a unique differentiator in the market. 5% in 2022 accross all contracts 19% in H1 2026 across all contracts Telecom Defense Defense sector order intake up 5x year-on-year
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Strong growth in revenue 13 H1 2025 H1 2026 Share Change Revenue 18,010 20,562 100% +14.2% o/w Recurring revenue 13,410 16,644 81% +24.1% Subscriptions 5,169 7,316 36% +41.5% Maintenance 8,241 9,328 45% +13.2% + Non recurring revenue 4,600 3,918 19% -14.8% Perpetual licenses 3,829 3,165 15% -17.3% Services + Others 771 753 4% -2.3% Shift in business model success 81% of recurring revenues (+7 pts in 1 year) Unaudited data (€000) – French GAAP H1 2026 activity
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Outlook 14 Outlook 03
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Growth drivers 15 Outlook Artificial Intelligence . 02 Expansion into the Enterprise segment 01 Regulation and sovereignty 03
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16 Outlook Expansion in the Enterprise segment Large companies* : 22% of H1 2026 turnover Partner ecosystem: Global System Integrator (GSI) & Consulting System Integrator (CSI) Target Develop alliances with leading GSIs Hiring of a VP Channel and a GSI manager, both based in Allemagne Strengthening of the German market positioning through team expansion, BSI certification, and new memberships in the ACS (Alliance for Cyber Security) and TeleTrusT Development of tools to increase partners’ autonomy Differentiation through OT H1 2026 Partnership signed with a GSI in Germany Expansion of an existing partnership from a national to a global scope * Companies with turnover over €1.5bn
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17 Outlook Artificial Intelligence A strategic opportunity for WALLIX 1 : 100 Human identities vs. non-human identities $47bn AI agent market by 2030 $8bn NHI* market expected to grow 4x by 2030 Acquisition of Malizen and integration de UEBA** capabilities into WALLIX One in 2026 WALLIX One: a unified AI-powered plateform for access governance Partnership with Inria to develop sovereign AI capabilities for cybersecurity FROM PAM TO AI-AUGMENTED PAM
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Regulation and sovereignty Key drivers for European cybersecurity 18 Outlook NIS2 2026–2027 WALLIX A European cybersecurity champion Multi-country certifications Number of entities in the scope x10 DORA IEC 62443 France Only European vendor recognized in Gartner® Magic Quadrant for PAM Strong positioning in OT environments and critical sectors
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2026: profitable growth and self-financed investments... 19 HYPER-GROWTH IN RECURRING BUSINESS ▪ Client base: significant upsell potential ▪ Strong market structural momentum POSITIVE OPERATING PROFIT IN 2026 ▪ Resumption of OPEX under control Outlook ...to build a European leader in cybersecurity. SOUND FINANCIAL STRUCTURE ▪ Positive free cash flows in 2026 ▪ Financial flexibility
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Thank you 250 bis, rue du Faubourg Saint-Honoré 75008 Paris, France +33 1 53 42 12 81 info@wallix.com