Refocus
Recover
ReboundParis | June 7, 2023

Analyst Day | Agenda
CEST

Topic

Speaker

09:00

WelcomeThomas Guillois

Refocus, Recover, ReboundNourdine Bihmane

Go-to-market and growth

Clay Van Doren

Business line strategy

11:00

13:00

• Hybrid Cloud & Infrastructure

Laurent Barbet• Digital Workplace

Leon Gilbert• Technology Advisory & Customized Services

Stéphane Richard

Coffee BreakTransformation plan

Nourdine Bihmane

Financials and pathway forward

Darren Pilcher

Closing & Q&A

Nourdine Bihmane

Cocktail Lunch

Disclaimer
This document contains forward-looking statements that involve risks and uncertainties, including references, concerning the Group’s
expected growth and profitability in the future which may significantly impact the expected performance indicated in the forward-looking
statements. These risks and uncertainties are linked to factors out of the control of the Company and not precisely estimated, such as
market conditions or competitor's behaviors. Any forward-looking statements made in this document are statements about Atos’s beliefs
and expectations and should be evaluated as such. Forward-looking statements include statements that may relate to Atos’s plans,
objectives, strategies, goals, future events, future revenues or synergies, or performance, and other information that is not historicalinformation. Actual events or results may differ from those described in this document due to a number of risks and uncertainties that aredescribed within the 2022 Universal Registration Document filed with the Autorité des marchés financiers (AMF) on April 21, 2023 under
the registration number D.23-0321. Atos does not undertake, and specifically disclaims, any obligation or responsibility to update or amend
any of the information above except as otherwise required by law.
This document does not contain or constitute an offer of Atos’s shares for sale or an invitation or inducement to invest in Atos’s shares or
any other securities in France, the United States of America or any other jurisdiction.

This presentation includes information on specific transactions that shall be considered as projects only. In particular, any decision
relating to the information or projects mentioned in this document and their terms and conditions will only be made after theongoing in-depth analysis considering tax, legal, operational, finance, HR and all other relevant aspects have been completed andwill be subject to general market conditions and other customary conditions, including governance bodies and shareholders’approval as well as appropriate processes with the relevant employee representative bodies in accordance with applicable laws.

Nourdine
Bihmane
Chief
Executive Officer
Refocus, Recover, ReboundGroup update

Separation on track

Reiterating FY23 guidanceFavorable TriZetto rulingKey messages
Redefined portfolio
addressing key
customer priorities>40% higher Total
Addressable Market (TAM)with 3-5% market CAGR

Executing on acomprehensive
transformation plan
€1.2bn gross run-rate
benefits by FY26, 65-70%
delivered by FY24

1 Free Cash Flow before interest and tax

Pivoting to industry
leading offerings

Updating our
4-year planreflecting fastertransformation

driving 0-2% p.a. core
growth in FY22-24,
accelerating thereafter

Execution aheadof last CMD plan
turning Operating Margin(OM) positive 3 years earlier
than planned•

6-8% OM in FY26•

CF positive in FY25•€300m+ higher cumulative
FCF1 FY23-26 compared toprevious plan

Redefined portfolio addressing key customer priorities€705bnTech Foundations TAM
FY22, €bn

Total Addressable Market (TAM),>60% of IT services spend

3-5%
market CAGR FY22-26>40%
higher TAM vs. CMD 2022

490
Last CMD

705
Today

Pivoting to industry leading offerings driving core revenue growth0-2%
core revenue growth until FY24

Revenue contribution1€bn

Non-core

Core

5.4

4-6 p.p.
higher TAM growth FY22-26 vs. last CMD

20%lower capital intensity
1 Excluding UCC and Italian operations

6%
Tech Foundations
today (2022)

Tech Foundations
tomorrow (2026)

Executing on a comprehensive margin expansion plan
Gross run-rate benefits€1.2bn€bn

Implemented

Pipeline

1.2

gross run-rate benefits

300+
initiatives

200+
frontline leaders

Deliverymodernization

Project
marginexpansion

3rd party
spend

SG&A

Total

Strong execution of plan translating in results+1.2%Core revenue growth1 , %1.2%

FY22 core revenue growth

OM positive-9.2%
Operating Margin, %3 years ahead of plan

0.7%

€270m
of gross run-rate benefits delivered by Q1 23
1 Excluding UCC and non-core revenues (BPO and VAR)

-1.3%
FY21

FY22

Medium-term ambition updated to reflect faster transformation
Compared to previous plan

Medium-term ambition

2 years ahead

Where wewant to be
in 2026

Core revenue stabilization

100-300 bps

Revenue1

Low point in
FY24 atc. €5bn

Back togrowthHigher OM in FY26

OperatingMargin% of rev.

OM alreadypositive in
FY22

6-8%
in line withindustry
standards

FCF before
interest
and tax

Positive in
FY25€250m+€300m+
Higher cumulative FCF2

As previously indicated, Atos recalls that the Company and its Board of Directors examine all options and received expressions of interest regarding the Tech Foundations
perimeter in light of the Company's corporate interest and in particular the creation of value for its stakeholders / its shareholders, employees, and customers. In this context,
the Company may hold discussions with third parties
1 Excluding UCC and Italian operations
2 Higher cumulative operational FCF before interest and tax, FY23-26 compared to CMD 2022 plan

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing and Q&A

Introduction to Tech Foundations

01.
Refocus
Recover
Rebound

Portfolio strategy and innovation

Leading the industry on talent and ESGTech Foundations is a global leader with strong foothold in Europe
across IT Infrastructure, Cloud and Digital Workplace
Revenues by Business Line1, FY22, €bn

52 000+People across the globe

Technology Advisory
and Customized Services

1 200+

Global & diversified
customers across industries

0.9

Digital Workplace
1.2

69Countries of operations

3-5 years
Average contract length

1 Excl. UCC and Italian operations
2 Non-core revenues (BPO and VAR)

25+ years

Empowering CIOs for trusted
mission-critical operations

90+%

renewal rate in EU

DigitalBusiness
Platforms€5.4bn
2.1

0.3

0.9
Non-core2

Hybrid Cloudand InfrastructureEuropean leading player in diverse and regulated industries
Revenue by region, FY22

Revenue by industry vertical, FY22
Telecom, Media& Technology

APAC

13%

4%

Growing Markets
9%€5.4bn
North America 21%

Financial Services& Insurance

Resources& Services

14%€5.4bn

66% Europe
20% Central Europe

20%

20% UK/Irelan
17% dFrance9% Benelux &the Nordics

20%

Manufacturing& Services

Public Sector& Defense

19%
14%
Health & Life Sciences

We have a strong European footprint & heritage…

Excl. UCC and Italian operations…with a balanced portfolio across data-sensitive industries

Introduction to Tech Foundations

01.
Refocus
Recover
Rebound

Portfolio strategy and innovation
Leading the industry on talent and ESG

Market trends are driving demand for Tech Foundations’ services

Distributed workforce post
Covid redefining theworkplace needs and services>75%

of employees prefer some sortof hybrid work70%

increase for remote support
software apps such as device
access management, IT remotesupportFast move to multi-cloud &hybrid configuration>80%of enterprises have adopted
hybrid cloud47%

using 2 or 3 public cloudproviders>75%

Importance of sovereign
cloud and cybersecurity

Coming age ofartificial intelligence

>80%

55%

of organizations are repatriating
data from public clouds to meetdata sovereignty requirementsof business leaders mention AI
as a top priority

38%

24%

increase in cyber-attacks
globally in 2022 vs 2021

of CIOs mention hyper
automation as a top priorityof data will be produced andprocessed at the edge

75% of CXOs state that their organizations have increased their sustainability investment over the past year
Source: Gartner, IDC, Cisco, Harvey Nash, Press searchFour core offering families serving our customers end-to-end
FY22(% of total revenues1)

Technology
Advisory &Customized
Services

Enabling organizations to realize
their full potential leveraging data,AI, digitization and automation

DigitalBusiness
Platforms

Key vertical solutions such as
digital ID, connected solutions,major sports events andsustainability

DigitalWorkplace

Digital collaboration, employee
engagement, intelligent
customer careHybrid Cloud &Infrastructure

Hybrid multi-cloud infrastructure,mainframe and infrastructure
modernization

Excl. UCC and Italian operations
1 Numbers are excluding non-core revenues (BPO/ VAR) of €0.9bn (17%) in FY22

16%€0.9bn6%€0.3bn€1.2bn21%€2.1bn40%+

TechFoundations’orchestration& management
framework
Maximizing potentialfrom automation data
and AI across thecloud continuum

Pivoting towards a bigger, faster growing addressable market
Global market size, 2022 comparison€bn, 2022~705
40

Digital business platforms1 NEW

~490

180

Technology advisory &EXPANDED
customized services2

Professional services

120

70

Digital workplace3

Digital workplace

70

70

Private cloud

70

120

Hybrid multi-cloud NEW
infrastructure4

230

225

Private cloudCore infrastructure

Tech Foundations’ addressable market
last CMD (2022)

Market CAGR, FY22-26-1%

Traditional infrastructureservices5

Hybrid Cloud& Infrastructure

Tech Foundations’ addressable market
today (2022)+3-5%

1 Includes Edge, Sovereign cloud, Digital identity and major events solutions and sustainability; 2 Includes tech advisory and technical professional services; 3 Not including Collaboration and communication services;
4 Includes Private/Hybrid Cloud, Multi-cloud, and Public Cloud; 5 Infrastructure & Managed Services in IT reports (including Network, Database, Server, Wintel, Service desk, Middleware, Storage)

Source: Gartner, IDC, Hyperion

Becoming the managed services provider of choice across thecloud continuum
Traditional

Traditional
infrastructureincl. mainframe

Emerging

Privatecloud

Hybridcloud

Publiccloud

Sovereign
cloud

Edge
services

Multi cloudservicesIntelligent network
Application operations
Tech Foundations multi-services control center (orchestration and management framework)
Cybersecurity

IT carbon footprint optimization

Service integration & orchestration

AWS – Partnership testimonial

Tanuja Randery
Managing Director EMEA, AWS

With our digital business platforms, we are expanding in nearadjacencies with a €40+bn market

Key verticalsolutionsCutting-edge E-2-E digital identity
solutions to enable seamless andsecure identification of citizens
Full range of IT solutions for worldclass sporting events; only IT
services company with a dedicatedsports & major events division

Sustainability

Establish ICT sustainability throughadvisory and assessment services
Leverage technology to measureemissions, gain insights andimplement decarbonized solutions

Our commercial momentum has stabilized…
Increasing Book-to-Bill (BtB) overtime (BtB, %)
2021

2022

Instituted a new Chief Growth Officer
overseeing all sales under a single umbrella

2023
94%

80-90%
83%
68%
54%

59%

67%
57%

…however, this is not enough, and we have taken
concrete measures to improve further

54%

58%

Restructured sales organization tostrengthen regional sales, streamline
operations and consolidate resources
Expanded hyperscaler and alliancepartnerships to improve pipeline origination

Instilled large-deal focus team andramped-up of business development
Q1

Q2

Q3

Q4

Embedding GenAI to enhance all aspects of our businessHybrid cloud &infrastructure delivery

Digital workplace delivery
Personalized service desk
Knowledge management

Left shift error management
Coding assistance

Sales
Lead generation
Proposal drafting

GenAI

New GenAI offerings
GenAI enablement services
Integrating GenAI’s ecosystems

Support functions

Procurement

Contract management
Marketing and comms

RFP generation
Supplier assessments

GenAI will generate tailwinds for our portfolio
Key GenAI trends…

Vertical clouds…which increase Tech Foundations’ overall relevance…

Explosion in
infrastructureservices

Integrating
domain specific
GenAI eco systems…and enhance our delivery

AI-assisted incident andproblem management

Cross-language, low-costservice desk
Domain specific
GenAI eco systems

Advisory
practice todrive adoptionof ethical GenAI
Proprietary datasets
as differentiators

Enhancedexisting portfolio
offerings

Rapidly scalable scripting
and automation

Accelerated deal
solutioning capabilities

Introduction to Tech Foundations

01.
Refocus
Recover
Rebound

Portfolio strategy and innovation

Leading the industry on talentand ESGOur leadership team reflects the diversity, experienceand expertise required to guide Tech Foundations

International team withcomplementary skillset
Clay Van Doren
Deputy CEO and
Chief Growth Officer

Amy Brown
Chief Human
Resources Officer

Laurent Barbet
COO and Global Head ofHybrid Cloud & Infrastructure

Darren Pilcher

Alexa Van Den Bempt

Paul Peterson

Berenice Chassagne

Chief Financial
Officer

Global Head of
Digital Business Platforms

Chief Administrative
Officer

Global Head ofGrowing Markets

Extensive IT
Services expertise

Incentives aligned toshareholder valueWe are revamping our talent strategy

Modernize
operating model

Hire new rolesin GenAI

Streamline functionstransformedby GenAI

Develop new
GenAI skills

Leveragealternative hiring
channels

Through hybrid /flexible work
environments andautomation everywhere

Including AI solution
developers, prompt
engineers

Including service desk,
software development,
data science

Including analyticaljudgement, bias
detection, AI delegation(prompt management)

Including hackathonsand opensource
communities

Double growth/~3x increase in~6k roles that

~100% of30-40% share ofshoring related hiringin low-cost locations
by 2026

GenAI skills by 2026

could be freed up
thanks to GenAI

employees withGenAI aptitude
by 2026

hiring through newchannels by 2026

We have ambitious plans to further solidify our leadership in ESG
Industry
Recognitions

Our commitments

Environmental

SocialGovernanceStrong commitment togreenhouse gas emissions
reduction

Opportunities for 100%of our people to engage in Tech forGood programs & initiatives as part ofour DE&I strategy

Embrace new CSR reporting
standards to support our commitment
to governance

Increase share of data centers using
renewable energy sources

Expand Tech For Good partnerships withlocal and global non-profits to drive
inclusion, accessibility, and diversity

Reflect materiality assessment to meet
new CSRD reporting requirements

1 Baseline 2024

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing & Q&A

Clay
Van Doren
Deputy CEO &Chief Growth Officer
Go-to-market and growthMeasurable progress made against our growth plan from last year

Drive
revenueretention2026
goal
per last
CMD

Progress
made in
12 months

Increase
add-onrevenues

Boost large
deal and newlogo hunting

Scale
alliances

Drive growth in
new offerings/
capabilities

20%

13%

4%

15%

improvement inrevenue retention

revenue from addon, in line withindustry benchmark

revenue from newlogos

revenue withhyperscalers andpartners

Potential upsidethrough newofferings e.g., edge,
cloud, digitalplatforms

10 p.p.

€600m+

2%

€750m

11

improvement inrenewal rate

add-on revenues

revenue from newlogos

of alliance-derived
pipelinecustomer wins

6% higher in 2022 vs
2021

2x increase in newlogo wins

500m+ in pipelinefrom new offerings

Our commercial performance has stabilized
Improving Book to Bill
80-90%
54% 59%

68%

67%
57%

Larger, more focused pipeline
83%

94%

Pipeline for next Financial year, at given date, €bn

54% 58%2021

New logo/ Cross
sell pipeline

2022

Others

2023

Q1

Q2

Q3

6.7
2.4x

Q4

Stabilizing Revenue

2.8

YoY growth, Core revenue1, %

5.8

1.2%

1.9
-9.2%
FY21
1 Excluding UCC, VAR, BPO

FY22

1.0

1.0

May 2022

May 2023

We are taking 6 actions to accelerate our progress going forward

1

2

3

4

5

6

Dedicatedsales orgaligned bybusinessoutcomeInvestment
in businessdevelopment,
advisors andlarge deal
teams

Holistic
approach to
grow top 100
accounts –cross sell,
new offerings

Proactive
retention andcustomerexperience

Scaling
alliances withpartners’
ecosystem incl.
hyperscalers

Tailored
geo-wise
growthstrategy1: Dedicated sales org aligned by business outcome
Streamlined, centralized sales org creates accountability by core outcome

Chief Growth Officer

Geo Sales

Large Deal

Growing accounts

Origination and conversion

Customer proximity

Dedicated infrastructurebusiness development
function
Enhanced Large Deals
execution teamStrong local coverage
Agile squads

Alliances &Partnerships
Innovative win-win
partnerships withhyperscalers
Key at-scale partners
such as Eviden andnext gen partners

New offerings
New specialist sales
group with deep
expertise in selling
new offerings

Streamlined org with 4 key units of execution ensuring clear accountability and focus

2: Investment in business development, advisors and large deal teams
Focus on advisory and business development to generate and convert large deals

Large deal origination

2x

4xincrease in Advisor
led pipeline

scale up in 2023 of first ever dedicatedinfrastructure business development Group

Large deal conversion

40+

50+

Incentives

new roles hired in
expanded and refreshedlarge deals teamBusiness line solution
leads as part ofpre-qualificationaligned on win rates, earlyyears revenue, profit andcash

3: Holistic approach to grow top 100 accounts – cross sell, new offerings
Material cross-sell / upsell opportunity at top 100 accounts for existing and new offerings
Significant upside exists in top 100 accounts

<25%

19%

share of walletcustomers with only
1 business line

Enabling our sales teams to cross and up sell
Systemic ID of Customer Challenges

76%
19
36

Data-backed heatmap for cross-sell
New offerings – Technology services as
tip of the spear
Business line SME - backed sales

24%

45

Aligned incentives for add-on revenue
1 Business line
2 Business lines

<25%

>25%

3 or more Business lines

AI enablement through opportunity
identification, automated proposal creation

3: Holistic approach to grow top 100 accounts – cross sell, new offerings
Case example: growth journey with a utility customer for the past two years

Revenue, €mEnablers

YoY
+34%
€18m

€17m

H1 2021

H2 2021

€26m

€21m

H1 2022

Great CSAT and strong
relationships; Increased
stakeholder
engagement withparticipation in key
Tech Foundations
events

H2 2022

2021

2022

2023

Closed 10+ deals;
Improved CSAT of 95%;
worked with client to meetbudget constraint

Customer intimacy:
20+ innovation workshops totackle business challenges

New offerings: new buying
center opened in network
consulting, new offering
pipeline of €15m

Customer ‘need’
focused marketing:
5+ POCs, 5+ white
papers€40m of deals through3 relevant platform
partnerships

UEFA – Partnership testimonial

Hosni Ajala
Chief of Information Communications &Technology, UEFA

4: Proactive retention and customer experience
Proactive revenue retention: early extension and transformation of regional logistics business

Client situation
Long-standing infrastructure customer
2 years to go on contract
Challenges on app stability and flexibility(outside of Tech Foundations scope)

Key actions taken• Early extension of contract• Scope expansion: transformation ofcustomer business and applications
through Atos’ new offerings:• App Refactoring, migrate
and run in public cloud• Migrate data to SaaS services• Migrate and run next gen privatecloud5: Scaling leveraging ecosystem partners as channels
Scaling our partnerships – featured partner: AWS

Industry-first 5-year strategic
program
Joint GTM to transform 800+
customers’ business

60+ resources funded by AWS
Deal-specific capital investmentsfrom AWS
Co-investing in assets

NOV

JUN

JUN

2022

2023

2024

Progress till date

Plan for next 12 months

€500m

75+

€1 000m

TCV pipeline
createdCross-sellopportunities

of joint TCV pipeline

3 large deals

17+

in motion with 1 POC already confirmed

customers won and migrating to AWS

6: Tailored regional strategy
vs a one-size fits all global approach

Regions

Business line mix
Top 100 Accounts

FranceUnited Kingdom& Ireland
North America
Central Europe
Rest of World
1 Includes cloud and traditional infrastructure

Hybrid cloud &Infrastructure

DigitalWorkplace

Digital businessplatforms

Advisory andexpertise

Client annual turnover<€1bn in turnover€1-10bn in turnover€10+bn in turnover

Client mix by size % Business strategy
of clients by client turnover• Continue to grow core hybrid cloud & infrastructure, digital
workplace• Continue scaling advisory and expertise cross-sell/upsell• Cross-sell advisory and expertise• Convert new large deal pipeline in digital workplace and hybrid
cloud & infrastructure• Focus on winning major net new logos• Cross sell advisory to existing hybrid cloud & infrastructure large
accounts• Continue new midsized new logos on separate midsized E2E
operation• Cross-sell and upsell in existing Large Accounts.
• Accelerate opportunistic new offerings growth in Middle East-Africa• Leverage large foundational accounts to grow in mature markets(e.g. Hong Kong, Singapore, Western Australia).

With these actions we aim to accelerate our growth trajectory
Today

Ambition

Book-to-bill

70 - 75%

100 - 110%

Core revenue
growth rate1

Stabilized2+%

Revenue fromnew offerings

<5%

>8%

1 Excluding UCC and non-core (BPO and VAR) revenues

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing and Q&A

Hybrid Cloud & Infrastructure

03.
Businessline
strategy

Digital Workplace

Technology Advisory & Customized Services

Laurent
Barbet
COO and Global Headof Hybrid Cloud& Infrastructure
Business line strategy

Key messages

HCI focus on managing entire
continuum of cloud infrastructure

Team of industry leading
cloud experts assembled

Revenue stabilization throughexpansion into the fast-growing
hybrid multi-cloud services market

Cloud catalyst partnershipwith AWS already creating
commercial momentum

Existing capabilities in managing
hybrid environments enables
right to win

Margin improvement actions
and shift to asset-light
portfolio underwayWe are expanding into Hybrid
Multi-Cloud services market
Addressable market, €bn

3-5%

Underlying trends

480

415
Hybrid multi-cloudinfrastructurestructure NEW

120

Private cloud

70

85

Traditional
infrastructureservices

225

205

FY22
Source: Gartner; IDC; NASSCOM

190

FY26

Private and hybrid cloud expected
to stay fundamental part ofinfrastructure services market driven
by customers that cannot fully
migrate to public cloud
Increasing complexity, regulation, anddata security requirements in customer
IT landscape leading to hybrid multicloud environments being the norm formost enterprises
Customers are looking for partners tomanage complexity and create value
through differentiated services

Tech Foundations is becoming the managed services provider ofchoice across the cloud continuum
Traditional

Traditional
infrastructureincl. mainframe

Emerging

Privatecloud

Hybridcloud

Publiccloud

Sovereign
cloud

Edge
services

Multi cloudservicesIntelligent network
Application operations
Tech Foundations multi-services control center (orchestration and management framework)
Cybersecurity

IT carbon footprint optimization

Service integration & orchestration

Leveraging our strengths and differentiating capabilities

Global leader
with EU roots

Leading
footprint inEuropeDeepexpertise

Leader in data
centeroutsourcing andhybrid cloudWorld-classpartnerships

Partnershipecosystemwith industry
top players

Decarbonization

Multi-services
control center

Low carbon
footprint IT
infrastructureservices

Multi-cloudand core
infrastructure
management
and automation
platform

Revenue to stabilize by 2024

Hybrid multi-cloud infrastructure
Private cloud
Traditional infrastructure services

Hybrid Cloud & Infrastructure Revenue, €bn

2.3

2.1

FY21

FY22

Rapid decline

Slowing decline

FY24

FY26

Stabilization & Business Shift(Now – 2026 ambition)••~5% revenue loss1
Key reasons:- Reduced scope
and attrition on
existing customers- Weak sales engine
and lack of pipeline- No strong cloud offerings
1 FY21 to FY22

• Streamlining & enhancing
offering portfolio• Rebooting sales engine
and delivery-led fertilization• Dedicated squad forhigh priority offerings

Portfolio actions• Increasing hybrid and multi cloud-based revenue• Reshaping and reskilling delivery organization• Launch and scale new offerings
Sales/Go-to-market actions

We are reshaping our core and cloud portfolio…
Yesterday

Today and tomorrow

Hybridmulti-cloudinfrastructure• Private cloudpartnership with
Dell and VMware• New hybrid cloud solutions based on Dell / VMware, AWS
and AzureCore
Infrastructure
Services• Standalone
Mainframe• Mainframe-as-a-Service integrated in the cloud ecosystem• Legacy Data
Center andBranch LAN• Legacy Windows
and Unix based
infrastructure• Industrialized migration to cloud factory• Standardized infrastructure providing cloud like experiencethrough enhanced catalog of automated services• Intelligent software defined networks, DC LAN,
Branch LAN, WIFI, WAN, 5G• Service integration and orchestration

… and creating value through new cloud-based services
Traditional

Cloud continuum…
Traditional
infrastructure
Private cloudHybrid cloudPublic cloud

Emerging

Sovereigncloud
Edge services
Multi cloudservices… managed on our multi-services platform…

… creating value
through new services
Observability

Multiservice
control
center
ITOps
Core
IT
Operations
Data
Core
Hub

• Application• Infrastructure• Business process• Security

FinOpsConfig. Mgmt

Correlation

Anomaly

Automation

Autonomous Ops
Resource
management

Data
Hub

Data Catalogue

Data Core

AI/ML

Visualization

Governance &complianceHybrid multi-cloud IP proven and scaled across customer
environments
Orchestration solutionof overall IT landscape+65% overall performance1
improvement

Digital hybrid cloud
Innovative solution for all
cloud technologies
Leveraging 10 years of successful
private cloud track record

Automated complianceand vulnerability
remediation solution

Atos Modern Management Platform

100+ current customers,
scaling up to 200+

Ecosystem of partners embeddedwith data analytics and AI

API-based IT carbon
footprint management
solution

Generative AI~5-15% IT carbon
footprint reduction

Breakthrough in autonomous,
zero touch operations

1 70% less downtime, 65% faster repair time, 80% less major incidents

Multi-cloud & core infrastructure
management and automation platform

AI-driven incident resolution
and code generation

Hybrid Cloud & Infrastructure

03.
Businessline
strategy

Digital Workplace
Technology Advisory & Customized Services

Leon
GilbertGlobal Head of
Digital Workplace
Business line strategy

Innovating to capture value from Digital Workplace market
growthProjected global1 DWP market growth, €bn
1-3%

70

Markettrends

80
Managedworkplaceservices• Focus on employee
experience• Mobility and comms
top client priorities• Remote working
and BYOD policies• Employee wellness andClient Device
Support &DaaS• Increased numberof devices (IoT)• Increasingly complexityof ecosystems• Transform ways

Traditionalend userservices• More costly and laborintensive operating models• AI supporting tools as toppriority for >85% clients• GenAI driven

ManagedWorkplace
Services

Client Service
Support &DaaS
Traditional End
User Service

FY22

FY26

1 Considering outsourced services global market – estimated at ~50% of total market

Source: Gartner, IDC and NASSCOM, ISG

Our updated
portfolio tocapture value
experience focus (XLAs)• Managed
collaboration suites• Zero trust securityof working• Cloud-based /anywhere managed

E2E automation

Tech Foundations’ Digital Workplace is a globally recognizedIndustry leader

2015-2023

2017 to 2022

2020 to 2022

LeaderOutsourced
Digital Workplace Services

Leader
US Workplace
Support Services

LeaderDigital Workplace
and Global Services

2020 to 2022

2017 to 2022

LeaderAdvanced
Digital Workplace Services

LeaderEurope Workplace
ServicesTech Foundations’ unique, differentiating set of capabilities
GenAI
Holistic integrationin current portfolio

Leader workplace
ESG offerings
Circular economy solutions
for Zero waste IT

Market leaders in people experienceand cutting-edge offerings
First to market with and mostdepth and breadth in XLAs/DLAs

European and US-centricfootprint with global scale~100 countries,+20 delivery centers

Strong brand name inthis market segment

Strongpartnership network

Leader in Gartner's magic
quadrant for 7 years

Nexthink's largest
partner, starting 2015

We have a large base of global clients
Globalleisure leader~250 000 users~215 000 users~350 000 users~130 000 users

Worldwide,
150 countries

Worldwide,
25 languages

Worldwide

Worldwide,
100 countries~95 000 users~100 000 users~40 000 users~105 000 users

Worldwide

8,000 locations,
7 countries

UK andNorth America

Worldwide, 30 countries
in Americas and APAC

Global clientsand use cases+5m devices~3.4m individual users

managed for our clients

supported worldwide

Plan to retain market leadership and grow market share
Revenue evolution, €bn
2-4%Digital Workplace
will continue
outgrowing themarket from aleading position

~1.2

FY22

FY24

FY26

Team

Portfolio &partnerships

Customers& OE

Geographic
focus• New leadershipbrought backfocus on People
Experience growth• Re-insourcing ofstrategic functions• Grow partner-led
business development
engine• New offerings(e.g., ESG, advisory
services, GenAI)• Maintain current
renewal rates of >90%
• Pursue incoming RFPs,
defocused over last 2 years• Accelerate the Modernizationof existing legacy customer• Cross-sell in non-DWP clients
through tech evangelists• Retain global
leadership, double
down on Franceand US growth€200m+
bookings from newofferings in 2026

Transformation is already leading to new strategic contracts

Client’s context

Winning value proposition

ImpactLeadingaerospace player

Impact based
partnership agreement

5-yearFirst tender for
100% workforce(+180 000 users)
Improve employee
experience end goal

Nearshore,
multilingual provider

contract~€100mTCV

XLA pioneer
Expertise on existingclient software
ESG andsocial impact1

1 Through its strategic agreement with FMS to incorporate disabled individuals in this project2 To be reduced over the contract duration as automation is set in place

400+ engineers to get involved
at program launch2

Scottish Water – Client testimonial

Rob Mustard
Chief Information Officer,
Scottish Water

Hybrid Cloud & Infrastructure

03.
Businessline
strategy

Digital Workplace

Technology Advisory &Customized ServicesStéphane
RichardGlobal Head ofTechnology Advisory &Customized Services
Business line strategy

End-to-end services across customer needs life-cycle
AdviseData

Applications

Infrastructure

DesignTechnology
consulting
We provide
expert services inniche segments ofhigh complexity
incl. security andsustainability
Supporting other
BLs on value
adding offerings

Build

Implement

OperateMaintain & Support

Customized services
Local Professional Services, Specialized Service Centers and Co-Innovation
Services, covering the whole scope of IT services from application design anddevelopment to operations and infrastructure while ensuring customer security

Integration services
Integration of hybrid infrastructure products andassociated software, based on the best solutions
from our partner ecosystem

Maintenance &Support Services
Maintenanceservices for hybrid
infrastructuresand networks

DevicesServe as entry point for other Tech Foundations’ Business Lines, strengthening overall offeringEnhancing our value proposition in a fast-growing market
Technology advisory & customized
services global market forecast, €bn

5-7%

~180

~120

FY22
Source: Gartner, Expert interviews

FY26

MarkettrendsOur winning
strategies

End-to-end
solutiondeliverySupporting customers by providing end-to-end
services, from the design, operation, andmaintenance systems, including their build androll out.

Industry verticalexpertise

Specializing service centers to better match theneeds of the business in each customer industry.

Decrease on
execution time

Emphasizing agility, speed of execution
and proximity to customers.
Decentralizing and expediting businessprocess decisions to be made on projects.

Partnershiporientedrelations

Spearheading the technology integration business,fostering strong relationships with leading technology
and cloud service providers, federating a dense
ecosystem to cover all our customers' needs.

Inno’Labs as spearhead to win the high-value market
Operating Inno’Labs
Developing1 Inno’Labs

Ideationsessions

Inno’Lab
concept

Proof ofconcept

Collaborative
brainstorming sessions
between Atos, clients andpartners to generate newideas in break-throughtopics (e.g., AV/VR, Digital
Twin, Neuro Tech)

Cluster expertise around
one of the labs that fit with
relevant industry trends toco-innovate with its
clients, partners &ecosystem

Move to proof of concept
or actualization inside oneof our Inno’Labs.
Inno’Lab concept helps
customers realize theirinnovation goals

Our Inno’Lab concept is quickly becoming the core of Tech Foundations’ DNA
1 Germany and Austria locations under final decision

Scaling-up our value proposition to deliver above market growth
Revenue improvement roadmap1, €bn
6-8%
~0.9

FY22

Pricing initiatives

Align pricing topremium capabilities
service offerings

Geographic footprint
expansion and E2E
approach
Expand to markets where
we currently have limited
presence/ market share(Spain, North America)
Improve cross sell of E-2-E
customized services into
accounts with Maintenanceand Integration services(focus on France, BTN)

1 Excluding VAR revenues

Scale technology
consulting andnew offerings
Acceleration based on growing
our consulting, replicating
Technology Services successrecipePush best practices
across geos:• Expanding Inno’Labs• Tribes (Technology Services
expertise communities)• Specialized service centers

FY26

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing and Q&A

Nourdine
Bihmane
Chief
Executive Officer
Transformation planComprehensive transformation across all aspects of our business

Talent strategy

Margin expansion

Process modernization &operating model

CultureHolistictransformation
embedding AI
in all aspects

Portfolio redesign

Rearchitecting the Goto-market modelDelivering transformation through classical and next-gen levers€1.2bn gross run-rate benefits by FY26

Delivery
Modernization
Modernization

Project
Project Margin
MarginExpansion

Classical
leversNext-genleversGross run-rate
benefits

3rd Party
Spend

Sales, General
SG&A& Administration

High
High Cost Location
Location
restructuring
restructuring

Turnaround of underperforming
performing accounts
accounts
Contractual
Contractual levers
levers(inc. pricing)

Supplier consolidation& renegotiation

Rationalization of
RationalizationofSales, General &SG&Afunctions
Administration
functions

Data-driven,autonomous operation

AI-based contract
management and AI
enhanced offerings

Spend analysis
leveraging AI

Increasing self-serveandand automatedautomated tasks
tasks

€680m

€360m

€140m

€80m

RRI spend €780m, 10% lower than last year with a payback of <2 years

Executing fundamental shifts in delivery capabilities

Delivery
Modernization

Key actions

Productivity &Automation• Leverage GenAI to reducemanual efforts – translating
to free-ups• Investing in autonomous
operation use cases

Globalization• Offshore-first location strategy• Build offshore capabilities forhigher complexity tasks,
augmented by GenAI

Talentstructure• Left shift of issue resolution,
driven by GenAI• Improved SOPs
• Faster debuts absorption

15+%
capacity free-up

Leapfrogging
by embedding
GenAI into
holistic delivery
transformation+10 p.p.
low-cost location mix
improvement

Talent structure, %
High
Mid
Low

5-10

5
45
50

50-60

30-40

Delivery
Modernization

High-cost headcount reductions actions alreadydelivering to our targets at pace
High-cost locations headcount reduction by lever

DeliverySales,
General& Admin.

High-cost locations
headcount reduction

7,500
~900

~6 600

2 900

1 000
400

Targetreduction

Headcountreduction in
H2 22 andQ1 23

Remaining
reduction
to go~7 500

Productivity & Globalization
Automation

Nonbillable
optimization

2 300

Ramp
downs

~75%
Exits to be completed
by end of 2024

Social processcompleted globallyProject Margin
Expansion~66% of under-performing account revenue
addressed
Under-performing account revenue No of accounts,
distribution by turnaround actions %Exampleactions

Not yet addressed

33%

32%

Ongoing discussion andnegotiation by regions
and dedicated Red
Account Team

Termination

8%

30%

Terminate non-strategic
contracts

Descoping

Toplinenegotiation

37%

22%

16%

Renegotiate scopeof loss-making services

23%

Repricing
Improve change
requests conversions€500m+
underperforming
account revenue
addressed

66%
underperforming
accounts
addressed in H2 22

Project Margin
Expansion

Executing cultural transformation to limit losses
from underperforming accounts
X%

Cultural transformation to mitigate
underperforming accounts
1. Exiting non-core business/ contracts
2. Strengthened contract management
throughout deal lifecycle

Project Margin of under-performing accounts

Under-performing accounts
Revenue contribution, %-€190m
13%

3. Disciplined transition and transformation
with controls on deviations from plan-€130m
Successfully turning around ~66% of
under-performing accounts in H2 2022

9%

4. New target operating model to allow focus
on account-level interventions

5%

5. New incentive mechanism related toaccount profitability for Geo leadership
FY21

FY22

FY26

Pricing actions taken on 85+ accounts;
scaling 2X additional accounts
Significant benefits
delivered so far€35m1
Gross run-rate benefits
delivered from multiple levers

Actions
taken
Focusing actions
on 85+ accounts:••

Total grossrun-rate benefits

35+

Cost of living
adjustment~20

Other levers~15

Key scaling actions
initiatedIntelligent Contract Database:• Scaling up to
2x additional accounts• Detailed teardown of~20 priority clauses• New pricing levers (e.g., interest
on delayed payments, overtime)

Introducing structured
governance:•(e.g., energy price,rate increases)

Structured bottom-up
identification of unenforced
clauses
Key clauses to achieve pricing
uptickProject Margin
Expansion•

Consolidate andtrack pricing actions
Improve awareness &traction on pricing levers

1 Partially coming from actions on underperforming accounts - not fully additive to project margin impact on those accounts

Pricing COE to maximize
value capture

Execution has begun at pace and ahead of plan
Commercial

Operational

Commercial
pipeline

Bookto-bill

New
logos

High costlocation laboradjustment+ €1bn94%+ 50%€270m 900HC

66%

H1 23 vs.
H1 22

Q4 22 vs.
84% Q4 21

New logos
22 vs. 21

Gross run-rate
benefits deliveredby Q1 23

Addressed

Core revenues stabilized & growing at 1.2% in FY22

Cost
actions

Exited in Highcost locations
by Q1 23

Underperforming
accounts

OM positive in FY22 – 3 years ahead of planOn track to deliver full gross run-rate benefits:ahead of plan with >21% of benefits delivered

Transformation run-rate
benefits by 2026
Run-rate benefits
delivered until Q1”23
X%

Gross run-rate benefits by FY26, €m

Overall~1,200~65-70% of grossrun-rate benefits to
be delivered by 2024

% delivered

~680
18%

24%

~360

~120
Delivery Modernization~90
Project Margin Expansion

21%

~270

23%

31%

~3o

~30

3rd Party SpendSales, General &Administration~140
Gross run-rate benefits
by 2026

Gross run-rate benefits
delivered until Q1 23

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing and Q&A

DarrenPilcher
Chief
Financial Officer
Financial plan andpathway forward

Key messages
Overdelivered onrevenue and operating
margin commitments madeOM turned positive in
FY22; margin at
6% to 8% in FY26

at last year’s CMD

We have built a granularplan to rigorously steer our
financial performanceCore revenue1 to grow
0-2% until FY24,
accelerating thereafter
1 Excludes Tech Foundations’ non-core revenue
2 Operating cash flow, or free cash flow before interest and tax

Cash flow2 toturn positive by FY25;
expected at €250m+ in FY26

Cumulative cash flow2 for next
4 years €300m+ higher thanlast year’s CMD

We have far exceeded our FY22 plans for both top and bottom-line…%

Revenue stabilization

Operating margin uplift(in €m)(in €m)
5,390

-2.4%

OM-Margin

+0.7%

4,966
FY22 CMDFXExit Non Core
Business1

Revenue
Retention

Boost
Pricing
Large
and New
Deals, New Offerings
Logos &
Fertilization

Excl. UCC and Italian operations, all figures in €m
1 Non-core business exits relate to BPO and VAR

FY22
FY22 CMD

Margin fromincremental
revenues

MarginHeadwinds &expansion counter-effects
Gross benefits

FY22

Our granular plan to rigorously steer financial performance
Revenue

Cost

PM to GM
Rigorous planning

Optimize ROI and payback

Granular financial plan for P&L and cash, updated quarterly• Built & modelled by top 100 accounts

Robust tracking linking
impact into P&L and cash

• Across all geographies and business lines• 300+ initiatives of our margin expansion plan incorporated

Sales, General& Administration

Cash war room and action plan

Investments

Restructuring
Tight steering and controllingof financial performance

1 GEO = Geography, BL = Business Line

Updating our medium-term plans reflecting recent
outperformance and longer-term strategic vision
2022 CMD

Previous medium-term ambition

Updated medium-term ambition

FY26

RevenueLow point in 2024
at €4.1bn

Operating Margin% of rev.
FCF before
interest and tax

Excl. UCC and Italian operations

Turn positivein FY25

FY26

Back togrowthLow point in 2024c. €5bn

Back togrowth>5%

Already positivein FY226 - 8%, in linewith industry
standard€150m

Turning
positive in FY25€250m+

Portfolio strategy to result in core business growthexcl. UCC and Italian operations, €bn

Positive momentum
Hybrid cloud and infra
Non-core

Revenue ambition: FY22 Pro Forma - FY26
5.4bn

FY22

Back togrowthc. 5bnFY23

FY24

1 Includes BPO, VAR
2 Excludes Tech Foundations’ non-core revenues

FY25

FY26

Positive momentum
on Technology Advisory,
Digital Workplace, andDigital Business Platforms

0-2%

Stabilization of Hybrid Cloudand Infrastructure in FY24

Accelerating
thereafterContinued managed reduction
in non-core activities1

FY22-24
Core2 CAGRTopline management and transformation plan to uplift operating
margin to industry standards (6-8% FY26)
excl. UCC and Italian operations
Operating Margin Ambition – FY22 Pro Forma to FY26, %6% - 8%
0.7%
FY22 Pro
Forma

Margin fromincremental
revenues

Deliverymoderni-zationProject
marginExpansion

3rd party
spend

SG&A

Wage
increases+€1bn gross run-rate benefits fromtransformation plan to be delivered in FY23-FY26

Backfill costs Incremental
R&D

Other
headwinds

FY26

Free cash flow1 to reach €250m+ in FY26
excl. UCC and Italian operations, €mFree cash flow pre-interest and tax,
FY26

Cash optimization levers
Working capital• Account DSO optimization• War Rooms by GEO€250m+

Capex and leases• Optimizing cash out profile• Controlling asset utilization
OMDA preIFRS 16
FY26

Capitalexpenditure

Change in
Working
CapitalRestructuring

Rationalization

PRC cashoutflows

Free Cash
Flow before
interest andtax FY26€300m+ higher cumulative FY23-FY26 FCF1 than previous plan (2022 CMD)
1 Free Cash Flow before interest and tax

Margin recovery• Cash focus in deal solutioning• Account-wise cash control

Our 2026 ambition

FY26
Outlook

Revenue

OM

Free Cash Flow1

Back to growth

6–8%€250m+

0-2% core revenue
growth FY22-FY24, bold
acceleration thereafter

OM in line withindustry standard

Expected to increasec. €50m eachyear post FY26

Excl. UCC and Italian operations
1 Free Cash Flow before interest and tax

Agenda01. Refocus, Recover, Rebound02. Go-to-market and growth
03. Business line strategy
04. Transformation plan
05. Financial plan and pathway forward
06. Closing and Q&A

Nourdine
Bihmane
Chief
Executive Officer
Closing and Q&A

Where are
we heading?

End to end digital orchestrator across the cloudcontinuum with integrated security
Autonomous operations powered by AI
Transformed GTM model optimized
for next gen offerings
Talent aligned to post GenAI business model
Leader in sustainability and DE&I
Resilient business model withattractive stable financial results

Management team and next level leadership inplace to drive sustainable attractive returns

Our vision post 2026
2023-2026

2026 - onwards

Recover
Rebound Refocus

Platformizationof portfolio

Opportunistic approachto consolidation• Redefined portfolio• Margin expansion• From digital orchestrator todigital platform as a service• Rearchitected
Go-to-market• Vertical and horizontal IP
driving software revenues• Integrating domain
specific GenAI
ecosystems• Cash flow generation• Subscription-based services• Talent upskilling• Next gen offerings
power GenAI scaling+• Purpose-built cloudstack powering GenAI• Consolidating European
IT services players todrive growth and margin
expansion

Q&A

Thank you!
For more information, please contact:Thomas Guillois – Head of Investor Relations
M +33 6 21 34 36 62
thomas.guillois@atos.net

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