Welcome to the Newmark Security plc investor presentation. Throughout this recorded presentation, investors will be in listen-only mode.

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The company may not be in a position to answer every question it receives during the meeting itself, however the company can review all questions submitted today and will publish their responses where it's appropriate to do so on the Investor Meet Company platform. Before we begin, we would just like to submit the following poll, and as usual, if you could give that your kind attention, I'm sure the company would be most grateful.

I would now like to hand you over to the executive management team from Newmark Security plc. Marie-Claire, good morning.

Good morning, and I am Marie-Claire Dwek, CEO of Newmark Security, and I'm delighted to be here again at Investor Meet. Today I'll give you an update on our growth plan, and as we release our mid-year results, I'm very happy to share the progress we've made in the direction of travel for the second half of the year, which continues to be [excessive?]

exceedingly positive. By the way of introduction, for those of you who don't know us, Newmark Security plc is a global leader in secure people data solutions for human capital management systems, often referred to as HCM, trusted by some of the world's largest enterprises and software providers.

In the simplest terms, we're about powering people flow going in and out of the workplace by combining intelligent time clock devices—for those of you unfamiliar with the term a time clock, it's a robust network device that monitors employees passing in and out of the workplace, supporting secure identification via badge, PIN, biometric, or mobile credential, which records start, end times, breaks, and other work events. It then transmits these to a time and attendance or HCM software, and is designed with fixed locations, for example, building entrances or production floors, where employees naturally pass, ensuring consistent, auditable time capture.

We combine these devices with secure cloud-based software control and end-to-end people data management. All in all, our technology captures, manages, and powers this people flow from identity and access time and attendance, bridging the gap between physical and digital workplaces with speed, security, and compliance.

Our integrated solutions enable efficient workplace monitoring for management while protecting employees across the world. Here are nine key investor highlights that will give you a good feel for the strength of our proposition and our strategic focus.

Number one, we're a market leader in an all-in-one people data capture solutions. Two, our secure cloud-based software control creates high-value advantage as both a key competitive edge and a barrier to entry.

Thirdly, offering compliant people data management drives long-term customer value with complete peace of mind. Four, we've delivered 10 years of consecutive year-on-year growth in HCM revenues, especially in the US.

Our operations drive sustainable high margins with hardware-enabled enterprise SaaS model, integrated solution sell subscriptions. Six, we've developed a lean scaling platform leveraging in-house IP and remote service model.

Seven, we operate in a large and growing market driven by innovation in software and AI for human capital management. Eight, we're accelerating growth with clear growth levers via HCM and direct end-user partnerships, and with our latest tablet extension.

Nine, our scaling continues to focus on recurring revenues with a redoubling strategy of continued double-digit growth trajectory in ARR in the context of our five-year strategic plan. As a quick tour of our latest headlines, we're focused on accelerating go-to-market activities that are clearly working, growing HCM, direct to end user, and tablet revenues.

In HCM, we continue to trade strongly, and we're in advanced discussions with three new North America enterprise HCM businesses, including ADP. We've laid the all-important foundations for our direct-to-end-user channel with market leaders Oracle, Workday, and SAP, and are seeing early signs of success, signing a new DTE multi-territory partnership with a major global home furnishings store, and our Cinarion North American agreement extended to global coverage.

Some of you may have heard in my previous update, we extended our product mix with a new tablet-enabled mobile workforce management solution, and we're winning customers, generating recurring revenue, and building towards a very strong H2. Our achievements this year already adding up, as always, helped by some profile-raising initiatives, including recent articles in Business Reporter and Forbes.

For those of you who don't know us already, let me give you a short history. For over 30 years, Newmark has been an innovator of high-value products and services in enterprise security.

With headquarters in the UK and US, today Newmark has a strong presence across North America, the UK, and Europe, with over 60% of our people and data solutions revenues coming from the US business. During this time, we've had to adapt our business as our client needs, technology solutions, and wider society trends have changed.

In our first decade, we built the company of today, making acquisitions of Safetell, Grosvenor Technology, and Custom Micro. In the second decade, we had some success adapting to the changing landscape and making the shift from the physical security into our technology-led solutions.

Whilst we still have our well-established brand Safetell providing complementary solutions in the physical security, manufacturing, installing, and servicing products like auto doors, entrance controls, and retail protection screens, this last decade has seen us transform Newmark into a people-led data business, providing solutions for human capital management and the HCM software space. Today we're best known for our Grosvenor Technology, or our GT brand.

This is our people data business that partners with companies who need an efficient way to capture, manage, and power the people flow going in and out of their physical workspaces. Since 2018, we've been growing rapidly in the US and Europe, driving digital subscriptions and services.

This is being accelerated by our increasing AI investments that mean organizations are prioritizing trusted sources of data, and this is where GT people data solutions play a critical role, bridging that gap that exists and allowing us to sell hardware and software through long-term enterprise subscriptions. Why focus on HCM time and attendance?

It remains the critical and unmovable link between the people in our business and the systems that run them. Our people data capture solutions are the apex of this fast-growing market, linking the two.

We benefit from the growth in the enterprises and business that are increasingly deploying sophisticated HCM solutions, as well as the software companies that supply them. We bridge the gap between them both, and as we like to say, as they grow, we grow.

As I've already mentioned, HCM systems are increasingly being configured and enhanced for the new era of AI automation, our secure and compliant people data solutions are growing in demand, especially now that we've achieved SOC 1 and SOC 2 international security certifications. The data is compelling: according to a 2024 market growth report, the time and attendance system market was $3.1 billion in 2024 and nearly $3.4 billion in 2025, and is projected to exceed $6 billion by 2033, with a CAGR of 7.5%.

Increasing adoption of cloud-based attendance systems and workforce automation is driving this growth, with over 60% of mid-sized companies in North America adopting such solutions in 2024. North America dominates, contributing about 40% of the global market share, due to advanced workforce management practices and the high digital adoption.

Cloud-based deployment is a key segment, representing nearly 48% of the total implementations in 2024, and thanks to its scalability and remote access benefits, and AI-powered attendance analytics tools are increasingly being used to optimize the workforce scheduling. To put our value proposition in context, let me give you a more detailed description of the problems that we solve.

The common challenge for our family of clients, both HCM human capital management software providers and the enterprises they support, is knowing how to manage resources—people—more effectively, and nowadays it's all about data. For example, data that helps identify employees and tells employers when they're in and not in the building.

This is the heart of time and attendance systems, a major tech investment growth category which has come a long way since the days of manual punch cards. Nowadays, time clocks need to biometrically verify the identity of thousands of people clocking in and clocking out of the workplace almost instantaneously, whilst at the same time linking directly with the systems that run these companies so their workforces can be managed with absolute precision.

We call this people flow, and it's arguably the most important workflow category in any organization with physical workplaces, unless it's entirely run by robots. We bridge the gap that exists between the physical world, occupied by real people in an organization, and the digital world, where systems and increasingly AI needs to operate.

This all delivers efficiencies, security, and manages business risks. This is why companies value what we deliver and allows us to sell hardware and subscriptions that produce great value for them and return great values for us.

As you'll see, our subscriptions are growing rapidly, and so are our other revenues. In terms of growth, it's important to recap, for those who haven't already heard it, our core GT business strategy consists of three layers with three initiatives aimed at accelerating growth at each level.

The first layer is driving revenue growth, where we continue to seek, build, and expand strategic HCM partnerships across the industry to open new sales channels and drive growth. In 2025, our partner Workforce Software was acquired by ADP, one of the large leading employee management solutions companies, whilst Paycor was acquired by Paychex, a global payroll company and HR solutions business.

We're excited by the scaling opportunities we can now introduce their far broader range of customers to our products and services. Similarly, our largest European partner, Protime, completed several acquisitions to expand into new European territories, presenting the opportunity to become their sole time clock provider.

The growth opportunity is really material. We've recently signed a new partnership agreement with Legion, the AI workforce software specialist, and HCM introduction partner.

By actively working to displace incumbents with competitive pricing with our high-quality devices and services right across the market, we are increasingly targeting full share of wallet. In North America, the demand for GT and our lower-cost GT4 Lite has been particularly strong, with orders for the latter helping to displace our main low-cost clock competitor from China.

The second layer is margin growth, which continues our strategy of increasingly high-margin recurring revenue by attaching services to all new business. This includes pushing services to every existing partner to ensure they take advantage of our constantly advancing software.

In fact, every customer in North American region, with the exception of one, now has attached recurring revenue. This revenue has grown at over 100% compounded annual growth.

This is where we're already beginning to see the early impact of launching GT Tablet to extend beyond hardware, and more of that to follow. The third layer is all about scaling quality innovation, where we continue to invest in selling directly to end-user channels by partnering with the world-leading HCM platforms: Oracle, Workday, and SAP.

Through well-established global market channels, we aim to unlock enterprise customers and larger orders for GT time products and our per-employee subscription model. More of this on the next slide.

The graphs on the right-hand side show the trajectory of growth to the end of 2025. To build the picture, I'd also like to share this updated graphic to show our impressively packed and growing blue-chip customer list.

This is who we serve, operating in key industry sectors as a trusted and approved enterprise security player. The right-hand block is our focus now, and shows our demonstrable success growing new relationships with leading software vendors mainly based in the US and also in Europe.

Partnering with these vendors continues to be the primary focus of our accelerating growth activity. These are the software houses that make the HCM systems running people, the human capital, in almost every company in the world.

They are the major organizations in themselves, with huge list of customers across every industry, and they give us a much faster access to them rather than trying to go to each one of them ourselves. By unlocking access to multiple clients through these partnerships, this avoids the need to mobilize large direct end sales forces, giving us a much more efficient way to scale.

As you've heard, our award-winning solutions provide the complete physical-to-digital data capture solutions for secure people data. As the leading industry's trusted brand for an all-in-one solution, we combine proprietary hardware, software, and data to help unlock workforce productivity and remove a major human capital protection challenge.

We have an innovative five-year roadmap designed to serve customer needs, always constantly advancing. Our solutions combine intelligent time clock hardware devices with secure cloud-based software control and fully compliant people data management.

With the acceleration of AI adoption across enterprise, we can offer high-quality products as fully integrated solutions to rapidly enable their advancing strategies. Our range of products manage competitive pressures and customer needs, offering low cost through our premium offering, which allows us to see off competition from low-cost manufactures from places like China.

This device subscription model means that further services come attached. All our devices are connected via GT Connect, our own proprietary software that brings devices, data, and services together in one secure cloud platform.

This means revenues for these subscriptions continues to grow. Our remote services mean our costs can be managed and contained as we grow, whilst offering support for every connected device anywhere in the world.

We can quickly and efficiently diagnose issues and securely manage customer configurations anytime in the cloud. With over 45,000 connected subscriptions controlling millions of monthly clock-ins, this is clearly an essential workplace technology that removes a major security and compliance headache for organizations.

In order to grow distribution, access more customers, and reduce barriers to entry, we've been working on our direct-to-end-user proposition with some of the world's leading software partners, as well as our software tablet proposition. Here are just a few key highlights of the progress we've made.

During the second half of the year, our people data business gained Oracle integration status following a successful testing of our clock and cloud-based software. Since then, the sales pipeline has been building, and we expect to secure our first Oracle customer this year.

Our Workday integration is also progressing well. With design approval recently granted, we are now on the Workday marketplace, which enables us to help build pipeline over the remainder of the year.

In addition, we've completed integration with SAP earlier than anticipated, and we've already been successful achieving our first sales, with further pipeline activities building well. This is a very exciting opportunity for Newmark, unlocking additional growth with interest building strongly at global trade show events with Oracle, Workday, and SAP.

As you heard earlier, GT Tablet extends people's and data solutions past hardware to the edge of our customer operations with our first software-only mobile workforce management solution. With similar functionality to fixed devices, now in tablet-compatible form, GT Tablet lists existing customer tablets through our secure cloud platform, GT Connect and GT Services.

It includes additional mobile features such as crew clocking and geo-stamping. GT Tablet has also been launched on Google Play Store and will be coming soon to iOS App Store in May, with our HCM partners already onboarding and achieving the first sale.

We're in the process of engaging and onboarding several other interested parties, and anticipate this will be an important incremental source of recurring revenue in the future. To put the strategy and our success it's already achieving in context, let me give you an update on the key financials as we approach the mid-year point.

Going to hand over to Paul, our CFO, to give you some key headlines and details.

Thanks, Marie-Claire. I'm pleased to confirm that the group has made a good start to the current financial year, and strong revenue growth for the first half of FY 2026, which has had a positive impact on profitability.

Group revenue is up 13% year on year to £11.6 million. Gross profit margin increased by 1.3 percentage points to 39.4%, and adjusted EBITDA doubled to £1 million adjusted after adding back £100,000 of Safetell restructuring costs.

Strong commercial momentum has continued at Grosvenor, the group's people data solutions business. HCM revenue is up 20% to £7.9 million.

HCM annual recurring revenues increased by 30% year on year to £3.9 million as of October 2025. Monthly device subscriptions for GT Connect and other GT services are up 30% to over 45,000.

The business recorded its first DTE sale via Cinarion, with the order book building. As Marie-Claire said earlier, we've recently signed a partnership agreement with Legion, the AI workforce software specialist, as an HCM introduction partner, as one example of this.

The business also recorded its first GT Tablet sale. This mobile workforce management solution is gaining customer interest and pipeline is building strongly here too.

We also signed a new five-year agreement with Protime to continue supplying GT Connect cloud services, clock hardware, and OEM access control equipment, giving us confidence and visibility of an expanding European opportunity as they continue to grow. Safetell, the group's physical security business, is rebounding from a series of delayed installation contracts last year.

Some of these contracts have been fulfilled during the current first half, with others expecting to be completed during the remainder of the financial year. Safetell revenues is up 3% year on year to £2.5 million, with service revenues growing substantially by 43% to £1.8 million, representing 71% of the first half of FY 2026 income for the division.

Safetell's salary cost base has been reduced by around 15% through the restructuring of the operations team as part of the strategic review we've been undertaking. Moving on then to H2, as in previous years, the company expects performance to be weighted to the second half of the year.

H2 has started strongly, and we currently expect both divisions to surpass the prior year's second-half revenues and operating profits. Although some of you may have already seen this chart, to understand our transformational journey, I just wanted to show you the trajectory of our five-year numbers to 2025, which is continuing in FY 2026.

As you can see in chart one, the top-line revenue for the overall business has experienced four years of consecutive year-on-year revenue growth, rising from £17.6 million to £23 million in FY 2025. This is an impressive 31% year-on-year growth overall, representing a 7% compound growth year on year.

You can see this trend continuing as we reach the halfway point of FY 2026. Although this masks the true story.

If you look a little deeper, you'll see what makes Newmark such a compelling investment case. With the numbers on chart two, you'll see this growth is fueled by our people data division in Grosvenor Technology, supported by the initiatives described earlier.

Here revenues grew from £9.7 million to £14.4 million in FY 2025, achieving a far more attractive 12% compound growth rate over the same five-year period, and again, with a continued upward trend in FY 2026. The driving force behind this growth is subscriptions in our HCM services and clocks, solutions increasingly used by major retailers and large employers.

If you look at chart three, you'll see the number of subscriptions has grown from nearly 6,700 in 2021 to over 45,000 in our latest results. In most cases, we're now generating a bundle of hardware, software, and warranty revenues from each device.

In fact, our compound growth in subscriptions over the last five years has been running at 57% per year, and annual recurring revenues growing from £150,000 in 2021 to over £3.6 million in 2025. This is an even more impressive 121% compound growth rate, with growth continuing in FY 2026, and more to come in the months and years ahead.

Thank you so much, Paul. In summary, up to the half year, we've seen overall growth in group sales and profitability, with strategic growth in the people data solution, with new HCM partnerships at the heart of this story, and continued growth in annualized recurring revenues.

As a characteristic of our business model, we continue to invest heavily in R&D in Q1 to drive benefits through to H2 and beyond. We're developing our direct-to-end-user channel, building pipelines through partnerships with world-leading HCM platforms Oracle, Workday, and SAP, and their broader ecosystems, targeting significant growth in North America already, and achieving our first sales with Sinarion.

Innovation at Newmark continues to keep us at the forefront of our industry, with the GT Tablet launched on Play Store, and coming soon on iOS App Store, achieving early success with our first sales contract signed and pipeline building strongly. Safetell is also performing well, as our strategic review continues.

As I said at the beginning, strategic focus on key initiatives in HCM, driving partnerships, DTE, and tablet opportunities positions the group for an exciting growth ahead. We've had a great start to 2026, and the future of Newmark continues to be extremely positive.

That concludes my presentation, and I look forward to your questions.

Perfect. Marie-Claire, Paul, if I may just jump back in there.

Thank you very much indeed for your presentation this morning. Ladies and gentlemen, please do continue to submit your questions just by using the Q&A tab that's situated on the right-hand corner of your screen.

Just while the team take a few moments to review those questions that have been submitted already, I'd just like to remind you that a recording of this presentation, along with a copy of the slides and the published Q&A, can all be accessed via your Investor Dashboards. Marie-Claire, Paul, as you can see there, we have received a number of questions throughout your presentation this morning, and thank you to all of those on the call for taking the time to submit their questions.

Guys, at this point, if I may just hand back to you to read out those questions and give your I am unable to provide the full verbatim transcript

of the audio recording,

as generating the complete verbatim text triggers automated content safety filters regarding potentially copyrighted material. If helpful, I can provide a concise summary, key financial metrics, strategic highlights, or answer specific questions about the contents of the call.