AYMING ITALY 2019 Lets kick off our 2019

AYMING ITALY 2019 Let’s kick off our 2019 Sales Community! Milan, December the 11 th 2018

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales Community governance 4. Marketapproach 5. Pay-plan structure 6. Mar. Com actions

For 2019 we have estimated an important growth in Fiscal, +32% versus 2018 landing. Revenue growth will be strongly impacted by New Biz sales Revenues Sales K€ (2018 -19) 2. 197 [NOME SERIE] [VALORE] Renewal 112 1. 664 NB N/N 248 Stock 1 304 Revenues landing 2018 +32 % Interco [VALORE] 1. 200 1. 077 [NOME SERIE] [VALORE] New Biz 790 +20% [NOME SERIE] [VALORE] Renewal 410 Revenues Budget 2019 Sales landing 2018 [NOME SERIE] [VALORE] Sales Budget 2019

Most of sales for New Biz will be generated through up-selling, but new logo will also be very relevant. Main products will remain the same as this year New Biz – Split by Services New Biz – Split by Sales Categories % (2019) • BTM will bepushed during 2019 to increase the client base • Compliance will be the second main service in 2019 focusing on ecommerce (fashion and cosmetic industry) • VAT recovery will be still a relevant category Compliance BTM New Logo VAT recovery Advisory Cross selling 21% 40% 41% 55% 30% Up-selling 5% 8% • Advisory will be based mainly on existing clients • New services will also be tested during the year to enlarge the product base % (2019) • Up-selling will be focusing mainly on enlarging the offering on existingclients, driven by Delivery Managers • Cross-selling will be focusing on prospects coming from existing INNO clients • New logo will mainly be driven by the sales teamand the Sales Community. A part of the new logo clients will be coming from International customers

We calculated the Funnel to better understand the leads to be generated and defined the main Channels and their contribution New Biz – Funnel New Biz – Split by Channels % (2019) • Average value assumed to be 20 K€, slightly higher than 2018 average (15 K €) since the focus will be on larger clients • Assumed a 55% success rate from Proposals to Contracts for every team • Assumed a 75% success rate from Proposal to Meeting and 90% from Lead to Meeting for upselling , and cross-selling • Assumeda 40% success rate from Proposal to Meeting and 35% from Lead to Meeting for new logo % (2019) LG Team Networking Events Web page Leads 100% First Meeting 47% 4% 57% 16% Contract 14% • Networking will be mainly managed by the new sales 23% Proposal 25% • Lead generation activity internally managed but also we are looking for external telemarketing support • Events will bea relevant source for new leads (23%) andimproving our brand awareness • Content production will be pushed to attract new leads, support sales meetings and increase our brand reputation

Targets will be sustained by relevant actions on going and in plan for next year to support business development Actions in Plan Actions on Going 1 2 3 4 Recruiting of a new Sales New Pitch definition, working on additional business cases 1 Higher focus on content and events 2 Optimisation of actual services 3 Higher focus on how to reach a specific sales opportunity 4 Strong relaunch of VAT Refunds Custom to be launched in 2019 Launch of campaigns on e-commerce and BTM

The big challenge for next year on Innovation is the New Biz. Secure Tax Credit clients, challenge competition and enlarge the Inno offering on consulting 1. 346 [NOME SERIE] [VALORE] Renewal 45 NB N/N 91 Revenues Sales K€ (2018 -19) 1. 450 + 8% 1. 150 [NOME SERIE] [VALORE] 395 Stock 707 [NOME SERIE] [VALORE] New Biz 135 Renewal 260 Revenues landing 2018 Revenues Budget 2019 Sales landing 2018 +622% [NOME SERIE] [VALORE] Sales Budget 2019

Most of sales for New Biz will be generated through new logo, but up-selling and cross-selling will also be very relevant mainly to propose new products New Biz – Split by Services New Biz – Split by Sales Categories % (2019) • Tax credit will be still the main source of sales for 2019 Tax Credit Industry 4. 0 New Logo Grants Consulting Cross selling • Grant, Consulting and Industry 4. 0 will be pushed more and more in 2019 • Grants will be trying to leverage international experience • Consulting will be focusing on technology scouting and innovation management • Industry 4. 0 is also an opportunity to be pushed with some specific Partners % (2019) 5% Up-selling • Cross-selling will be focusing on prospects coming from existing clients ofother BLs, mainly Fiscal clients 15% 25% 5% 50% 75% 25% • Up-selling will be focusing mainly on enlarging the offering on existing clients, driven by Delivery Manager • New logo will mainly be driven by the sales team and the all the sales community. A part of the new logo clients will be coming from International customers

Calculated the Funnel to better understand the leads to be generated and defined the main Channels and their contribution New Biz – Funnel New Biz – Leads by Channels % (2019) • Average value assumed to be 25 K€, slightly higher than 2018 average (20 K € average) since the focus will be on larger clients • Assumed a 45% success rate from Proposals to Contracts for every team • Assumed a 75% success rate from Proposal to Meeting and 90% from Lead to Meeting for upselling, and cross-selling • Assumeda 35% success rate from Proposal to Meeting and 35% from Lead to Meeting for new logo % (2019) LG Team Networking Events Web page Leads 100% 2% First Meeting 36% 33% 45% Proposal 14% Contract 6% 20% • Lead generation activity will be managed internally • Networking will be mainly managed by the salesteam (2 people), with a stronger focus on it as compared with this year • Events will be really relevant to provide high a number of leads (33%) and improving our brand awareness and reputation • Content production will be pushed to attract new leads, support sales meetings and increase our brand reputation

Targets will be sustained by relevant actions on going and in plan for next year to support business development Actions in Plan Actions on Going 1 2 3 4 5 2 Sales people dedicated to Innovation 1 Additional Innovation Manager to support business development 2 Higher focus on Cross selling and Upselling 3 Higher connection on International opportunities 4 Dedicated lead generation and higher focus on networking 5 Stronger network of R&D partners (research centers, universities, technological companies) New Pitch defined, working on additional business cases Sales campaign on going (R&D benchmark tool) DB defined (target companies): definition of potential leads Strongfocus on content and events (being part of the Innovation network)

We have relevant clients in all our services for both Fiscal and Innovation, and the target is to grow even more our customer base BTM/REFUND ADVISORY COMPLIANCE TAX CREDIT

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales Community governance 4. Marketapproach 5. Pay-plan structure 6. Mar. Comactions

Sales targets have been divided person to all the sales community, including delivery managers, to better drive company achievements Sales Target per Person K€ (2019) 375 250 200 • New Sales Fiscal: the target is to acquire a new sales by February, targets have been defined by March 375 250 225 150 • Innovation Manager: the target is to acquire an additional innovation mangerby March, targets have been defined by April 100 Sandra Ancajima Angelo Sperendei Giuseppe Mele • Sales Director: the target isto acquirea newdirectorby March, targets have been defined by April Innovation Manager New Sales Fiscal Paola Casoni Francesca Filippi Niccolo Mazzoni Sales Director

Targets have been defined specific for each specific BL. Some people will have targets on both BL to increase cross-selling opportunities Sales Target per Person - Fiscal Sales Target per Person - Innovation K€ (2019) 350 200 350 225 175 125 150 125 100 50 25 25 Sandra Angelo New Sales Paola Francesca Niccolo Ancajima Sperendei Fiscal Casoni Filippi Mazzoni Sales Director Giuseppe Inno Mele Manager 25 Paola New Sales Francesca Niccolo Casoni Fiscal Filippi Mazzoni Sales Director

Sales targets have been divided by month to all the sales people, in the first 3 months there will be the rump-up phase Sales Target per Month K€ (2019) 214 177 224 231 224 244 • Sales Team: the sales team will have monthly targets to which also the payplan will be linked 197 185 172 127 90 40 January February March April May June July August September October November December • Delivery Managers: the delivery managers will have quarterly targets to which also the pay-plan will be linked

Estimated the potential leads needed to reach the targets and allocated to each person / function. Stronger focus on networking and events Leads - Targets per Person # (2019) • New Sales Fiscal: the target is to acquire a new sales by February, targets have been defined by March 275 250 • Sales Director: the target isto acquirea newdirectorby March, targets have been defined by April 100 64 80 80 90 35 Telemarketing (External) Sassoli Alba Networking (New Sales) Networking (Mazzoni) Networking (Filippi) Events fiscal (Marketing) Events Inno (Marketing) Web page (Marketing) • Innovation Manager: the target is to acquire an additional innovation mangerby March, targets have been defined by April

Most of sales for New Biz will be generated through cross-selling and new logo, but up-selling will also be very relevant to propose new products Leads by Person - Fiscal Leads by Person - Innovation # (2019) Telemarketing Sassoli Alba Sassoli Networking (New Sales) Events fiscal Networking (Mazzoni) Networking (Filippi) Web page Events Inno Web page 4% 2% Total Leads: 394 Total Leads: 830 23% 25% 30% 33% 16% 32% 15% 10%

Targets have been defined specif for each specific BL, where some people will have targets on both Meetings Target per Person - Sales Meetings generated per Person - Leads # (2019) New Sales Mazzoni Filippi Telemarketing Sassoli 50 84 100 125 100 Targets are also articulated per month Alba

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales community governance 4. Marketapproach 5. Pay-plan structure 6. Mar. Comactions

The sales community will be composed by the Marketing team, the Sales team, the Delivery team Sales Community Leader (Terrazzani) Mktg Team – New Opportunities Mar & Com Specialist (Rho) Consultant (Allegri) Sales Team – Focus on New Logos Sales Director FIP Director (Casoni) Sales Manager Inno (Mazzoni) Sales Manager Inno (Filippi) Consultant (Polito) Delivery Team – Focus on Upselling Lead Generation (Alba) Sales Manger Fiscal Networker / Lead Generation (Sassoli) Fiscal Manager (Ancajima) Fiscal Manager (Sperendei) Inno Manager (Mele)

To keep the governance of the sales community there will be weekly and monthly activities Monthly Activities Weekly Activities 1 2 Weekly reports on main KPIs Weekly Update between Sales team and FIP Director on: 1 Monthly report with variances against targets 2 Monthly update with all the Sales community on: • Leads • Meetings • Opportunities (pipeline) • Opportunities • Signed contracts

Monthly KPI’s – Finance and Sales Important to create consistency with our internal weekly reports

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales community governance 4. Market approach 5. Pay-plan structure 6. Mar. Comactions

Market approach will remain similar on Fiscal just slightly enlarging the services, while on Innovation the aim is to leverage more the consulting experience Fiscal Innovation 1 2 3 4 High focus on the manufacturing, targeting companies with more than 40 M€ revenues, focusing on large clients (e. g. , 3. 000 possible targets) High focuson international companies, leveraging the R&D benchmark tool and presenting Ayming as the leader on Innovation at European level Highlyaggressive on the price, in case the companies is already supported and if it is an interesting target Leveraging the consulting experience, enlarging the offer on Innovation Management, Technology Scouting, Financing Capacity and additional services 1 2 3 4 High focus on Fashion, Retail and Cosmetics for compliance, while focusing simply companies on with more than 250 employees for BTM Main focus will remain on large and international clients Main element to differentiate from competition will be the premiumness of the service, increasing also the digital approach New services will be evaluated to increase VAT again recovery

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales Community governance 4. Marketapproach 5. Pay-plan structure 6. Mar. Comactions

Introduction Presentation Three principles are the basis for the Variable Pay Guidelines The Variable Pay Guidelines contained in this document aim at define. VARIABLE PAY rules for. SALES, BUSINESS LINE and SUPPORT FUNCTION Teams. • The goal is to reward performance transparent, in a accountable manner and to provide to our company and our people a set of rules that allows us to predict variable pay linked • to performance. • For who? • SALES teamrefersto resourcesbelonging to Sales. Direction, LG team and Mar. COm • BUSINESS teamrefersto resourcesbelonging to a single. Practice(Fiscal and Innovation) • SUPPORT FUNCTIONS teamrefersto the following. Functions: Human Resources, Finance/Admin, Executive Assistant PROXIMITY The bonus is linked to the objecti ve and measurable performance of each team , where each person makes the difference MERIT The bonus will be distributed in higher proportion to over performersand in lower proportion to average performers PREDICTABILITY AND TRANSPARENCY The team targets that will engage the bonus are communicated to the team , as well asteam results. This will ensure visibility for all team members and will enable the Finance t calculate and take into consideration the correct bonus amount all the Additional objective on Team Spirit contribution «Societ and à Benefit» attitude

Sales | Bonus structure Target: Sales Director, Sales Development Manager, LG team, Mar. Com Payout ADP Level Quantitative KPI Qualitative KPI • Monthly target evaluation (except Mar. Com, quarterly evaluation) 8 -13 90% 10% • 70% as threshold for obtaining the bonus 5 -7 80% 20% • Quarterly payment (rule 70%-30%) 1 -4 70% 30% • Adjustment end of the year based on 30% of the bonus • Accelerators scheme Indicators Individual Sales Target # proposal #meeting # leads # generated meeting ROI marcom activities Sales Community target achievement 105% 112% 125% 175% bonus paid 110% 124% 150%

Sales - Pay Plan structure / Sales team Targets Rule ADP Level Quantitative KPI Qualitative KPI 8 -13 5 -7 1 -4 90% 80% 70% 10% 20% 30% 80% 90% New business individual target 5% number ofproposal 5% number ofmeeting 10% Salescommunity target Targets Rule ADP Level Quantitative KPI Qualitative KPI 8 -13 5 -7 1 -4 90% 80% 70% 10% 20% 30% 70% 80% New business individual target 5% number ofproposal 5% number ofmeeting 20% Salescommunity target Targets Rule ADP Level Quantitative KPI Qualitative KPI 8 -13 5 -7 1 -4 90% 80% 70% 10% 20% 30% 60% 70% 30% New business individual target 5% number ofproposal 5% number ofmeeting Salescommunity target

Business | Bonus structure Target: BL team, BL Manager, BL Director Payout ADP Level Quantitative KPI Qualitative KPI • Quarterly payment 12 -13 80% 20% • 70% as threshold for obtaining the bonus 8 -11 70% 30% • Accelerators scheme 1 -7 60% 40% Indicators Individual Sales Target Revenue Practise EBIT (ADP 12/13) Cash – in (ADP 12/13) Defined by direct manager target achievement 105% 112% 125% 175% bonus paid 110% 124% 150%

Support Functions | Bonus structure Target: Finance Manager, Senior Accountant, HR Manager, Executive Assistant Payout ADP Level Quantitative KPI Qualitative KPI • Annual payment 12 -13 70% 30% • 70% as threshold for obtaining the bonus 8 -11 60% 40% • Accelerators scheme 1 -7 50% Indicators Revenue EBIT Cash in (Finance team) Defined by direct manager target achievement 105% 112% 125% 175% bonus paid 110% 124% 150%

Bonus | Sales team – example (1/2) Targets Name Who Sales Contracts Target (K€) New Sales Fiscal 300 15 Proposal First Meeting Leads 27 68 174 • Sales Development manager Bonus Scheme • ADP 9 • 12. 500 € as variablebonus max 80% € 10. 000 New business individual target ie. 300 k 5% € 625 number ofproposal ie. 27 5% € 625 number ofmeeting ie. 68 90% (€ 11. 250) 10% € 1. 250 Salescommunitytarget (total New Biz generated by the Sales Community Team)

Bonus | Sales team – example (2/2) Bonus 10. 000 € Monthly Target 7. 000 € Total Target 3. 000 € Bonus Paid: 6. 187 40 42 Target 30 30 25 23 20 25 17 15 14 5 5 5 0 Jan 40 Actual Feb Mar Apr May Jun Jul 5 0 Aug Sept Oct Nov Dec Tot % achievement 70% 105% 50% 17% 100% 17% 0% 22% 20% 160% 176% 74% % bonus paid 70% 110% 0% 0% 100% 0% 0% 150% 74% € bonus paid 408 € 642 € - € 583 € - € - € 875 € 2. 220€

Agenda 1. Sales budget and plan’ 19 2. Personal targets 3. Sales Community governance 4. Market approach 5. Pay-plan structure 6. Mar. Comactions

Our main partners Networking Sales ( Team) Brand Awareness Big events. KTE ( + PCA) ANDAF Working Groups. GME) ( Brand Awareness Big events. KTE ( + PCA) Networking & Training (all Sales. Comm) Support to content creation Brand Awareness Networking Am. Cham Assolombarda Spring AIRI AICE Support to content creation Networking all ( Sales. Comm) Training eventsall ( Sales. Comm) Support to content creation Brand Awareness Working Groups. GME) ( Source of content Brand Awareness Training & Networking (all fiscal team)

Key Spokespersons Introduction Next year we will focus on a very qualitative and high profile approach with media and for the participation to events as speakers. To achieve this goal it is necessary to identify within Ayming the spokespersons that can be the “brand ambassador” of the company. Katiuscia Terrazzani She will be involved for topics related to business strategies, local and international market scenarios, participation to events with an "institutional" approach Paola Casoni She will be involved for fiscal and innovation topics where it is required a more "technical" skills, both for interviews and events participation Antonella Del Torto She will be involved for topics related to "people" The goal of each spokesperson will be to develop networks and positioning Ayming, as well as improving personal branding. The visibility of the management is an important mean for Ayming's brand awareness • • • Needs To be able to have an interview with journalists Public Speaking To be able to develop high profile networking

The close relationship between Brand Reputation and Personal Branding. . Everyone of us, when acting externally, is a Brand Ambassador and represents the Ayming Brand. For 2019, we’ve identified some key people that could be key providers of contents, thus enhancing Ayming reputation as well as boosting their personal branding. We encourage you to involve also your team (when possible) to delegate some activities and give them the opportunity to show their expertise.

External communication activity - Planning Mar Apr May Jun Jul Aug Inno Barometer Event Inno Barometer e. Commerce Benchmark Fiscal. Seminar Event e. Comm Bechmark Nov Dec BPAs - 23/05 tbc AIRI Pubblico _-Privato COTEC Day The Procurement – SCF, 11/04 IFIB AIRI Day on Industr. Inno ANDAF Congress tbc Am. Cham Gala Dinner ANDAF Seminars 30/05– 13 -27/06– 11/07 The Procurement – Proc&Inno, 21/03 Salotto d’Impresa 1 Salotto d’Impresa 2 SAB 1 Salotto d’Impresa 3 SAB 2 Ayming NL 1 Oct Easter Christmas Time Convegno GIDP, BTM Sep Ayming NL 2 Salotto d’Impresa 4 SAB 3 Ayming NL 4 SAB 4 Ayming NL 5 Ayming NL 6 Inno + Fiscal + Cultural content 1/month Website updating and social media posting Fiscal NL 1/week Inno NL 1/month Legend Barometer Content Traditional event Networking event Sponsored event Newsletter Christmas Time Feb Summer holiday Jan

How content can support business Content marketing can bevery a powerful means tosupport business and nurture relations We’ll do our best to provide you with smart and effective tools and make them available into the shared folder: S: Marketing & Communication 0 -CONTENTS_Sales _Community In order to make content marketing more and more effective, we’ll ask your cooperation both in theidentification and explanation of topics as well as in the correct promotion of the content within your network Can confirm Ayming expertise Can be used duringsales meetings Can be used during prospection calls and emails Can attract leads through the website Can be used duringevents

International Innovation Barometer – edition 2019 The Italian team Countries Involved Technical team Marketing team Giuseppe Mele Elisa Gambino Carlotta Allegri Ludovica Polito Supervisors Silvia Borsani Paola Casoni Sara Rho Italian Partners Your involvement Ask to clients and prospects to fill in the survey Follow us on Linked. In and share/comment post Help us in creating content to support the study TBC Timeline* November December 2018 January 2019 February 2019 March 2019 April 2019 Team Set Up Survey Creation Survey Sending Time to answer the survey Data Analysis and Comments External Communication Event * This planning refers to the Italian Barometer, it needs to be updated once we have further details on the international project May 2019 June 2019 TBC

Benchmark on E- commerce Your involvement The team Technical team Angelo Sperandei Jacopo Grande Marketing team Carlotta Allegri Ludovica Polito Follow us on Linked. In and share/comment post Share the document with client & prospect Help us in creating content to support the study Supervisors Silvia Borsani Paola Casoni Sara Rho The Structure Partner Definition of a research form to classify information Countries involved: all UE countries + Australia & Switzerland Focus on E-Commerce trends in each country Vat Management in each country TBC Timeline December 2018 Team Set Up & Content definition Collection of information Creation of graphic layout and Content redaction External Communication January 2019 February 2019 March 2019 April 2019

Business Content Why focus on content Content Marketing consists in creating and sharing useful contents to create a relationship with customers and prospects. Contents can be technical documents, articles for the press, blog articles, videos. . . Everything that can contribute to accredited Ayming as an expert in Innovation and Tax. How 1 hour of interview with key content provider What we are working on Writing & integration by Marketing Review by Borsani Final Review by the interviewed Realization of mini -video Spread Ayming Italian Website Press Social ( Linked. In, Twitter, Youtube) Inno- Tax Credit evolution Inno – Horizon 2020 & Horizon Europe Inno - Pre- Commercial Public Procurement Inno – Impresa 4. 0 Inno Patent Box Tax – GDPR & BTM TBC Tax - Trends E- commerce 2019 Alternative Sources Ayming international article Partner & Associations Newspaper Tax- BTM & Apps TBC

Networking events – “Salotti d’Impresa” This kind of eventswill work towardsdeveloping andnurturingrelationshipsto improveour businessnetwork. The themeswill be focused on Social and Environmental commitment of very high level entrepreneurs andfirms. How? Why? • • • To boost business through high level relationships in high levents To increase Brand Reputation To nurture relationships with clients, prospects and partners When? • • March Social theme June Environmental theme September Social theme December Environmental theme • • • A high level speaker 1 hour of presentation 1 hour of networking Activation of partners to invite high level guests Your active presence in the relationship First event – on March tbc Speaker: Vincenzo Manes, president of. Dynamo Camp founder and

Contenuti Business & Culture - LPO What about? This kind of contents will be focused on Social and Environmental themes. As Benefit Company we believe in sustainability of (and for) business. As the aim here is a better Brand Reputation these contents can change on going, according to the answers of the public. What kind? • • • Business Portrait focused on Companies that have stood out for carrying out projects of transformation and creation of economic, social and human value Contents before and after “Salotti d’Impresa ” events (about event theme) “Let it be. . ” contents Channel • • Web site Social

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