White Pearl Tech Grp B

We'll hand over to our CEO, Mr. Marco Maragoni. Please, Marco.

Thank you, Peter. Just a couple of slides in order to explain and give my observation related to the period I think the most important is that basically we are achieving all our main targets, as you know, achieving the results we have forecasted, but also the transformation we had into a real health IEP company with a high margin. and really solid revenue streams. This is something that basically became as normality for us because, if I don't mind, at the beginning of our journey from 2023, we had positive results every quarter. We are consolidating our position. We are going to accomplish our targets, annual targets, but also our, I think we are in the right direction for achieving also the plan 28. Okay. Another important point is related to the program. We are, we are, executing related especially the integration program and this program is creating currently creating fresh revenue so it's a i think it's really good to explain that it's something really important that we are making a business across businesses and upselling their business using new uh new products and services coming from your new acquisitions And the last, I think, point of this slide is related to the speed up in terms of progress in terms of development of the Nordic markets. You probably saw how many operations we are doing. We already acquired two companies, but we are working of course, in doing other businesses. So we are definitely focused in this market, in Sweden, in the Swedish market, in all these markets. The next slide. OK, this is just a comparison in this work. for just to explain the entity of our achievements. And I think we could split in three areas, in three segments. The first one is definitely the revenue. As you can see, we are currently having a really stunning results in terms of revenue. And we are definitely having a better result if we resume with IT market benchmarks. And by the way, this is an information coming from the IT observatory from the European Union. And then the second segment is related to financial indicators. And as you can see, we are really in line with with the main with the main financial indicators if we did compared with other entities similar to us the real difference is that these entities are mostly located in europe in our case we are working worldwide and the third group of Indicators are mostly related to our organization, just to give you an idea about the quality of the organization. And so we are currently having a really stable organization in terms of human resources, experts, not big rotation people. And the most important point is related to our quality and on time delivery. This is another indicator that it's important because it means a stronger retainment of customers. We have 89% as rate on time delivery. It means that people and customers are not wasting and not losing money for delays with our projects, with our... uh so this is just to let you know taking the main main kpis how we are which kind of work we are doing and how we are moving i think this is uh what i prepared for this uh for this meeting i think peter thank you

Thank you very much, Markku. I want to remind all participants that these slides will be available together with a recording and together with a report on the company website. With that, I hand over to our Group CFO, Mr. Chetan Ottam, to speak a little bit about the strong margin development in this report.

Thank you, Peter. Thank you, Markku. Good day, everyone. I think further to what Pete has mentioned and Marco has demonstrated also in the slides and those who have been following our press releases, etc. I think there's a focused effort in terms of management and the business as a whole in terms of investing more into digital and emerging technologies and into smart infrastructure. I think the focus has been in the recent while to increase our investments and we see huge opportunities in these two areas. If you look in terms of our growth or the digital and emerging technologies it has been improving from here in 2024 and we're hoping to continue this trend by encouraging and putting a focused effort in terms of growing some of the businesses that we've acquired and being able to take it on to the global market so This is in terms of our strategy to achieve our targets this year and beyond and obviously keep up with the profitability that we've been achieving in the group. Look, there's continuous pressures in terms of businesses out there and I think key focus for ourselves is always to try and increase our cash balances to continue being profitable in Whitehall and to deliver shareholder value to the investors and to the people who have invested in our business. Thank you, Peter. On to the next slide, please. Coming back to the numbers, if you look in terms of our 2028 trajectory, we've forecasted 827 million SEC revenue in 2028. This year, we've got one quarter to go in our trajectory, our forecast was 417 million. Year to date, we've achieved a revenue figure of 363. So it is certainly the goal of ourselves and management uh to to reach this target into and to serve and to surpass it and hopefully get um to to to a a a number anywhere between 470 and 500 million this is our aim there's a lot of pressure on business to perform this quarter um one month is calling to the quarter and this year is rapidly coming to a close but we are confident and we try our level best to achieve and to beat these targets and these numbers that we are forecasting thank you peter thank you thank you very much

and with that i wanted to want to hand over to mr stephen thorne who i usually call our vice president for exciting stuff uh his vice president of artificial intelligence data science and blockchain and he's going to speak uh about our most maybe most exciting product group the nexus ai platform please stephen go ahead thank you peter

Good afternoon, everybody. So before we start, I just want to perhaps start with a statement. We're not building AI solutions. We're building enterprise-grade solutions imbued with AI. So AI companies sell technology. We solve enterprise problems. Our customers buy revenue recovery. They buy compliance automation. But AI is how we deliver those outcomes better than anyone else. So let me take you through the details. um so uh nexus is our um our uh at least nexus our revenue and optimization uh product is our flagship product it's a municipal revenue management system powered by ai so it has eight integrated modules uh revenue analytics fraud detection customer management billing property management collections everything that municipalities need um and the result is billions in revenue identified for our customer we've got a 94 for detection accuracy and double digit roi it takes days to to deploy um not months and customers don't buy it because it uses machine learning they buy it because it finds money they're losing and that's the difference between ai solutions and enterprise solutions that are imbued with ai We've proven this works. We've deployed in our first municipality in South Africa. We have a 257 municipality total addressable market in South Africa with a strong pipeline. We are now ready to scale. We have over 2000 municipalities across Africa, a $20 billion opportunity. Then MENA and LATAM add another $50 billion. This is a recurring software as a service model, and it runs on infrastructure. So multi-cloud, TensorFlow, Kafka, SOC 2 certified, production ready, mission critical. And Nexus revenue optimization is the proof. Now let me introduce you to the platform. So Peter, if you wouldn't mind opening, here we go. so the the um the next form uh is five products um 800 million dollars opportunity give or take um and as i mentioned earlier our revenue optimization uh tool is live generating revenue and as i mentioned before we have about a 500 million total addressable market there uh sentinel which we are launching in Q2, is an AI, Q2 26, apologies, is an AI power compliance tool. It's not an AI tool. It's enterprise GRC that predicts violations before they happen. So we're looking at between a 60 to 70% workload reduction and approximately $200 million total addressable market in that space. Our Nexus support is live. We provide SAP and Oracle maintenance and we can see anywhere between 50 to 70% savings and we have a $100 million addressable market there. Our Nexus CRM and Nexus HR uh we are rolling out in uh 2025 26 so um uh the the sort of q425 and q1 q2 26 they are currently uh being used internally we're piloting them and the idea is then to market them to our customers as well this is all built on the nexus ar platform so for customers It provides a complete enterprise suite, fast deployment, proven ROI, one vendor, multiple solutions. For White Pearl Technology Group, we see a $800 million opportunity, a land and expand model, gross margins north of 75%. We have a first mover advantage. We are between 12 and 18 months ahead of our competition in the space. And we have platform lock-in as well. So the investment, it enables our expansion of our sales model. We are looking, as I said, at launching Sentinel. And then we then have the opportunity for geographic growth and further product development. crm grc revenue management these uh software enterprise software categories are fundamentally better because unlike a lot of our competition that are building ai on top of existing products we are ai native from the start and i think that is obviously for us the opportunity um so if we go to the next slide peter thank you um so the market opportunity um as i mentioned previously we've we've got a 50 million 50 billion dollar market um If we look at enterprises lose between 5% to 10% of revenue annually. The compliance burden is growing. Legacy systems have no intelligence. And obviously, from that perspective, if we look at traditional solutions, as I said, we've got anywhere between a 12 to 18 months of implementation. Costs anywhere north of between $5 and $25 million. a significant business disruption and as i mentioned earlier retrofitted ai our solution um it's enterprise software that works it's imbued with ai and it's it's deployed in weeks um i suppose the the importance is um you know why why we win as as white pearl and i think obviously uh we've touched on a few of these points. But just to wrap it up, I think, we are AI native. So we built AI solutions from the ground up. We haven't retrofitted existing solutions with AI capability. I think our speed anywhere between 12 to 18 months to deploy are anywhere between 10 to 20 times faster than that. We have an emerging market focus. So these tools are built for Africa, MENA and LATAM. That doesn't necessarily mean we can't expand them into other markets, but we feel that they have a immediate uptake in these three markets and that's obviously And lastly, from an economics perspective, as I mentioned earlier, from a cost perspective, we're anywhere between 80 to 90% lower than the equivalent product from SAP or Oracle. So from a proven results perspective, we've identified, as I said, billions in revenue that can be recovered. We have a double digit ROI and industry leading accuracy. We're not selling AI, we're selling results. AI is just how we deliver them better than anyone else. So in closing, what are we building? We're building the intelligent operating system for enterprise operations in emerging markets, not AI solutions. As I said previously, this is enterprise-grade software, revenue management, compliance, support, CRM, HR. Every product is imbued with AI. And just a quick example. um you know if if one has to take let's look at hr in an example um you know existing ai hr solutions work well but to try and retrofit ai into that becomes complicated whereas our solutions as i said are imbued with ah with with ai they're built with ai from the ground up and in in this space in in hr for example um the ability to to look at um sort of predicting attrition rates based on historical. All of this is what AI does well. And I think certainly once we launch our CRM and HR solutions, I think it's a game changer in terms of what we've managed to build. We have the technology, it's been proven. We have the traction. As I said, we've deployed our first customer. We've identified billions in revenue that can be clawed back. We have a strong pipeline. We have the team. We have world-class AI expertise, and we have first-mover advantage. So sales expansion, the launch of Sentinel, and then obviously the geographic growth. That is Nexus AI. Thank you, Peter.

Thank you, Steven, for sharing this exciting development. Now I want to hand over to Mr. Ebrahim Lahar, our founder and strategic advisor to the board, to speak about our M&A activities and strategy. Please go ahead, Ebrahim.

thank you peter uh so yeah i mean it obviously gives us great pleasure to be able to present these set of results to the market uh and i think like you've seen today a lot of work gets done in terms of delivering technology solutions and the other part of the business as well is that we do significant work around mergers and acquisitions and partnerships I think the last quarter saw significant movement for us in terms of some global partnerships that we've brought on to the group. I think the most important one being, with its mind, a Gartner-rated cybersecurity business where we've now partnered exclusively as distributors for Africa. We're currently in discussions to expand the partnership globally. I think that provides us with significant mover advantage in terms of being able to provide cybersecurity solutions, world-class ones to our customers. We continue increasing our relationship with Perisent in the document management space, again, extremely important. uh we have expanded or we've announced our intention to expand uh our smart infrastructure offering the latest family joiner being premier brands energy solutions a company in africa specializing in solar systems and energy uh and yes belay talent solutions has been part of the group now for for a couple of months and i mean they're expanding rapidly as well both in africa and beyond next page please peter I think the latest agreement that we've announced to the press is the agreement to purchase some assets from Spotter Group, a fellow First North listed entity in Sweden. The deal will be conditional upon approval at the EGM, which is scheduled presently for spotter on the 21st of November. In total, White Pearl will be paying a consideration of approximately 19 million SEC and will acquire shares in four entities. The first one being Adligo RB, which is a cloud-based governance, HR and decision management platform, which is very exciting for us both in the Nordics and Sweden, as well as then taking it beyond. Krobia RB as well brings high-end consulting expertise in application development, sports tech, finance as well, and that will add to our headcount in Sweden in the Nordics, as well as then open up significant opportunities for us to go. SPOTR and this agreement fundamentally is the next phase in our Swedish, our European and our Nordics expansion plan. As we've said to the market over the last while, that's where our strategic growth is coming. When we started White Bull, the intention always was to be able to build a diversified technology model, which we will then roll out globally. when we listed in sweden we we mentioned our intention to the market in 2023 that we believe the white bull model which is as you've seen now delivers consistent uh profitable results for investors quarter after quarter is also relevant from a technology perspective for the nordics and the moves we've been making over the last year 18 months bears testament to that Sweden is becoming a larger and larger contributor to our earnings, to our people capital, to our solution capital. Cross-sell, up-sell, which remains our largest activity within the group as we bring these new acquisitions on board and we try and leverage both our existing footprints, our existing solutions, as well as then the new family joiners. ultimately is how we basically continue and we plan to drive value into the future. So we're super excited about Spotr as yet another brick in terms of the foundation that we're building to become a Swedish global tech company. Lastly, in terms of just further things around Spotter, we believe that it's bringing Nordic innovation more into WhiteBull. Spotter's products are certainly relevant in terms of taking it into the current geographies we're in. and certainly will give White Bull even more access to valuable Nordic talent as well as businesses, and continue developing White Bull into a truly global tech business, not just one focused on emerging market, but obviously we come from the emerging market, and now we're accelerating our Nordic, Swedish, as well as European footprint as we become a true Swedish global tech company. Thank you Peter.

Thank you very much, Ibrahim. It's now time for your questions. Before we take questions, I would remind you that this presentation has been recorded. If you were a late joiner, you can see the first parts of the presentation on the recording that we will publish on our homepage. If anyone wants the presentation as a PDF, just send me an email on ira.whiteballtech.com and I will send it to you immediately. If you have any questions now, please use the raising of hand function or write a question in the meeting chat. First question is from Niklas Elmhammer from Karls Square. Go ahead, Niklas. Unmute your phone and put your question.

Yes, thank you and good afternoon and good morning and congrats on a strong performance. Unfortunately, I missed the first part of the presentation, but just regarding, I was wondering if you could comment a little bit on what geographies and what clients are driving organic growth. I mean, Africa and the Middle East seem strong. For example, India is a bit softer.

Yes, I don't know if we should ask Chetan to answer this question.

Yes, Chetan, please.

Thank you.

Thank you, Nicholas. So yes, if we start from India, one of the partners that we've got in India that we work with largely is Yash Technologies. That's one of the clients that we have, and we deliver services to end users in the geography. Brontevite also does work in the Middle East for FIWA. It's one of the larger utility providers. in dubai in the middle east the other big businesses that we have in in in egypt is ecc ndfa cloud they do work for the likes of uh egypt air they do work in saudi arabia We do work for one of the larger service providers and IT service providers in Saudi to end users through partnering in other direct services that we do for clients in that region. If we look at our business in East Africa, we have Ethiopian Rail and the Ethiopian Insurance Corporation. that we provide through ERPSD. Coming down South to South Africa, we have multinationals, we have large municipalities in South Africa that we provide services to. From a geographic point of view, we have Africa contributing to just over 50% in revenue. Second largest or one of the larger contributors is some of the services and the businesses we have in Sweden. Luminary providing services to Handelsbank and they've been doing so for a number of years. So, in terms of the concentration, it is widespread for the clients that we are providing our services to. The clients are large, like Steven pointed out in his presentation. You know, we provide end-to-end solutions to such clients to maximize the services and to improve the business through some of these clients by bringing some of the technologies and the services that we provide through the various entities of our group and through the people that we have utilizing the platforms, etc. Thank you.

Okay, thank you, and a bit of follow-up there. To achieve your revised guidance for 2025 in terms of revenue, if I'm correct, you need to see somewhat accelerated growth in Q4. So what segments or geographies do you see will pick up to drive this performance?

Correct. So in Sweden, after the summer, we normally have a better Q4 performance compared to Q3 where things do slow down in the Nordics over the summer. So we are looking and aiming. for a larger contribution from our Swedish businesses in Q4. In the rest of the regions, some of the pre-sold work and some of the existing work in progress that we have in our balance sheet There is pressure upon us to realize the revenue and to close those projects and therefore getting to our forecast and to beat the forecast that we've set ourselves of the $470 million set for this year.

Okay, thank you. And regarding the margin target, 15.4% versus 18% achieved already in nine months. So it looks like a bit of a low bar. Is anything special we should pay attention to that might impact profitability negatively in Q4? Or is this just still a conservative guidance?

I think it is conservative guidance. Also, as the business in the Nordics improve, it is a lower based profitability and our GPs are lower in terms of the businesses and the services that we provide through the Nordics and in Sweden at the moment. we always to um caution ourselves in terms of of being conservative around the percentages and therefore try and meet it and beat it and be able to then meet the expectations of our shareholders and investors

Okay, thank you. And just also, if I may, on the financials, if you could comment on cash flow from investments. You have some ongoing investments in subsidiaries. if you could elaborate a little bit on what that is related to and how you see that going forward.

Correct. Thank you. So the acquisitions that we've concluded thus far this year had a larger cash component to it and hence we've utilized the cash generated through operations in terms of investing in the subsidies that we've acquired going forward and as we expand our team we will certainly look upon the expertise of some of our members that are joining us in terms of looking at the appropriate hearing so that as we expand acquisitions and create degree organic growth we are able to right-size the balance sheet in terms of how much we are able to gear against the investments and the assets that we purchase.

Okay, thank you. Great. I'll move back into the queue.

Thank you. Thanks for the questions, Nicholas. Much appreciated.

If there are any other questions, please raise your hand. If not, maybe it's time to conclude. And I wish you all a continued pleasant Wednesday. And you have my email and phone number on the screen now. And please do not hesitate a second to get in contact with me if I can help you in any way. Thank you very much, ladies and gentlemen.