25 May 2021

AVEVA Group plc

Results for the year ended 31 March 2021

© 2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 This presentation may include predictions, estimates, intentions, beliefs and other statements that are or may
be construed as being forward-looking. While these forward-looking statements represent our current judgment
on what the future holds, they are subject to risks and uncertainties that could result in actual outcomes
differing materially from those projected in these statements. No statement contained herein constitutes a
commitment by AVEVA to perform any particular action or to deliver any particular product or product features.
Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect our
opinions only as of the date of this presentation.

The Company shall not be obliged to disclose any revision to these forward-looking statements to reflect events
or circumstances occurring after the date on which they are made or to reflect the occurrence of future events.

2 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Introduction
Philip Aiken, Chairman

3 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Overview
Peter Herweck, CEO

4 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 AVEVA
Leading the digitalisation of the industrial world

 Leading independent industrial and engineering software company Cloud

 Hardware agnostic business model maximises addressable market
 Attract and retain the best talent Industrial IoT/Edge
 Performance benchmarked against global software peers
Big Data
 Focused on value creation for all of our customers and shareholders
 Extremely positive customer reaction after OSIsoft close Digital Twin
 End-to-end product portfolio supports customers’ digitalisation journeys
 Subscription delivers flexibility for customers and value for investors Artificial Intelligence

 Exciting structural growth opportunity Extended Reality

 Mega trends are driving the uptake of industrial software

5 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 FY21 results
Overview
 Strategic position enhanced
 AVEVA established as a clear global leader in operational
industrial software
 Good progress on Subscription transition and Cloud journey

 Strong second half revenue performance

 +10.6% organic constant currency for both AVEVA and OSIsoft

 Pro forma adjusted EBIT margin +270bps to 29.7%

 Full year outlook positive

 Trading has started well for the enlarged AVEVA Group
 Outlook in-line with the board’s expectations

6 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Financial Review
James Kidd, Deputy CEO and CFO

7 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Summary results
Combined Group pro forma1 for the year ended 31 March 2021

Total revenue Recurring revenue Adjusted EBIT* Adjusted EBIT margin Adjusted diluted EPS

£1,196.1m 66.9% £354.7m 29.7% 105.3p

(1.4)% +570bps 8.1% 270bps 11.9%

• Second half growth organic constant currency revenue growth +10.6% with full year growth at +2.2%
• Combined Group ARR was £704.8 million on 31 March 2021, up 8.6% on the previous year
• Final dividend slightly increased to 23.5p per share

1FY21 combined Group pro forma results include results for both AVEVA and OSIsoft for the 12 months to 31 March 2021, as if the acquisition of OSI

and the associated financing had occurred at the start of FY20

*Adjusted EBIT, profit before tax, adjusted profit margin and adjusted diluted earnings per share are calculated before amortisation of intangible assets
8 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved. (excluding other software), share-based payments, gain/loss on the fair value of forward foreign exchange contracts and exceptional items. Adjusted
earnings per share also includes the tax effects of these adjustments.
 Combined pro forma income statement
FY21 FY20
Year ended March 2021 Change
£m £m
Revenue 1,196.1 1,213.2 (1.4)%
• Organic constant currency revenue
AVEVA 803.0 833.8 (3.7)% +2.2%
OSIsoft 393.1 379.4 3.6% • Total adjusted costs reduced by 2.9%
Cost of sales (229.1) (249.9) (8.3)% on an organic constant currency basis
Gross profit 967.0 963.3 0.4%
Gross margin 80.8% 79.4% 140bps
• Adjusted EBIT margin – AVEVA 27.1%,
Total opex (612.3) (635.2) (3.6)%
OSIsoft 34.8%
Adjusted EBIT* 354.7 328.1 8.1% • Lower interest in FY21 reflects
AVEVA 218.0 216.8 0.6% reductions in LIBOR
OSIsoft 136.7 111.3 22.8%
• Effective tax rate 5.9% benefited from
Adjusted EBIT margin 29.7% 27.0% 270bps
the tax step-up associated with the
Net interest (16.0) (29.1) (45.0)%
OSIsoft transaction and intellectual
Adjusted profit before tax 338.7 299.0 13.3%
property tax incentives in the USA and
Tax charge 5.9% 5.1% (80)bps
Adjusted profit after tax 318.6 283.7 12.3%
UK
Adjusted diluted EPS (pence) 105.3 94.1 11.9%

*Adjusted EBIT, profit before tax, adjusted profit margin and adjusted diluted earnings per share are calculated before amortisation of intangible assets (excluding other
software), share-based payments, gain/loss on the fair value of forward foreign exchange contracts and exceptional items. Adjusted earnings per share also includes the tax
effects of these adjustments.
9 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.
 Combined pro forma revenue breakdown

Organic • Recurring revenue grew 11.0%

FY21 FY20
Year ended 31 March % of total % of total Change constant on an organic constant
£m £m
currency currency basis
Subscription 387.4 32.4% 330.1 27.2% 17.4% 19.8% • Perpetual licences reduced
largely due to Covid related
Maintenance 412.8 34.5% 412.9 34.0% 0.0% 4.0% disruption and a focus on
selling Subscription
Recurring revenue 800.2 66.9% 743.0 61.2% 7.7% 11.0%
• Services revenue reduced in-
Perpetual licences 271.2 22.7% 326.0 26.9% (16.8)% (12.2)% line with plan to focus on
higher-margin software sales
Services 124.7 10.4% 144.2 11.9% (13.5)% (11.3)%

Total 1,196.1 100% 1,213.2 100% (1.4)% 2.2%

10 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Standalone AVEVA revenue breakdown

• Recurring revenue increased 8.5%

Organic on an organic constant currency
FY21 FY20
Year ended 31 March % of total % of total Change constant basis driven by good growth in
£m £m
currency Subscription
Subscription 353.0 44.0% 316.8 38.0% 11.4% 13.5% • Maintenance revenue was
resultant, with some conversion of
Maintenance 192.3 23.9% 201.7 24.2% (4.7)% 0.5% Maintenance to Subscription
Recurring revenue 545.3 67.9% 518.5 62.2% 5.2% 8.5% • Perpetual licences reduced largely
due to Covid related disruption
Perpetual licences 136.5 17.0% 179.3 21.5% (23.9)% (17.9)% and a focus on selling Subscription
Services 121.2 15.1% 136.0 16.3% (10.9)% (8.7)% • Services revenue reduced in-line
with plan to focus on higher-
Total 803.0 100% 833.8 100% (3.7)% 0.2% margin software sales

11 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 OSIsoft revenue breakdown

Organic • Recurring revenue 16.9% on an

FY21 FY20
Year ended 31 March % of total % of total Change constant organic constant currency basis
£m £m
currency driven by growth in
Subscription revenue
Subscription 34.4 8.7% 13.3 3.5% 158.6% 169.2%
• Maintenance
Maintenance 220.5 56.1% 211.2 55.7% 4.4% 7.3% revenue increased due to new
revenue resulting
Recurring revenue 254.9 64.8% 224.5 59.2% 13.5% 16.9% from new Perpetual license
sales and a high retention rate
Perpetual licences 134.8 34.3% 146.7 38.7% (8.1)% (5.6)%
• Perpetual licences reduced due
Services 3.4 0.9% 8.2 2.1% (58.5)% (57.3)% to disruption caused by the
Total 393.1 100% 379.4 100% 3.6% 6.6% pandemic and in
particular weakness in the Oil &
Gas sector
• Services revenue
decreased due to a sharp
decline in on-site training and
field service orders

12 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Annualised Recurring Revenue (ARR)
• ARR makes it easier to track recurring revenue progression by annualising revenue associated with Subscription,
Cloud and Maintenance contracts
• ARR removes distortions caused by revenue recognition standards by annualising the revenue associated with
contracts at a point in time. It is calculated on a constant currency basis (at March 2021 average FX)
• Combined Group ARR was £704.8 million on 31 March 2021
• ARR for the standalone AVEVA Group was £453.8 million
• ARR for OSIsoft was £251.0 million
FY21 FY20 Change
Year ended 31 March
£m £m

AVEVA 453.8 420.9 7.8%

OSIsoft 251.0 228.0 10.1%

Combined Group ARR 704.8 648.9 8.6%

13 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Combined pro forma adjusted cost base

Organic • Total costs reduced 2.9% on an organic

FY21 FY20
Year ended 31 March Change constant constant currency basis driven by lower cost
£m £m
currency of sale and selling & distribution costs,
primarily as a result of Covid related savings
Cost of sales 229.1 249.9 (8.3)% (6.4)%

Research & Development 168.5 171.9 (2.0)% (0.1)%

Selling & distribution 278.1 302.5 (8.1)% (5.8)%

Administrative 162.1 153.9 5.3% 7.5%

Net impairment loss on financial assets 3.6 6.9 (47.8)% (47.8)%

Total opex 612.3 635.2 (3.6)% (1.5)%

Total 841.4 885.1 (4.9)% (2.9)%

Adjusted costs are calculated before amortisation of intangible assets (excluding other software), share-based payments, gain/loss on fair
value of forward foreign exchange contracts and exceptional items.

14 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Standalone AVEVA adjusted cost base

FY21 FY20 Constant • Total costs reduced 3.4% on an

Year ended 31 March Change
£m £m currency organic constant currency basis driven by
lower selling & distribution costs and cost of
Cost of sales 179.0 190.1 (5.8)% (4.1)%
sales
Research & Development 115.1 120.7 (4.6)% (3.1)% • Cost of sales reduced due to a reduction in
Selling & distribution 191.7 209.1 (8.3)% (6.2)% the cost of delivering services and customer
support, partly offset by higher Cloud hosting
Administrative 95.8 89.5 7.0% 8.6% costs

Net impairment loss on financial assets 3.4 7.6 (55.3)% (55.3)% • Research & Development saw tight cost
control partly offset by increased investment
Total opex 406.0 426.9 (4.9)% (3.1)% in Cloud and AI

Total 585.0 617.0 (5.2)% (3.4)% • Administrative costs increased, primarily due
to higher IT costs

Adjusted costs are calculated before amortisation of intangible assets (excluding other software), share-based payments, gain/loss on fair
value of forward foreign exchange contracts and exceptional items.

15 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 OSIsoft adjusted cost base

FY21 FY20 Constant • Cost of sales decreased due to reduction in

Year ended 31 March Change
£m £m currency travel by customer support functions
Cost of sales 50.1 59.8 (16.2)% (13.9)% • Research & Development increased
investment in Cloud
Research & Development 53.4 51.2 4.3% 7.2%
• Selling & distribution decreased due
Selling & distribution 86.4 93.4 (7.5)% (4.8)% to cancellation of on-site marketing and sales
events such as user conferences, executive
Administrative 66.3 64.4 3.0% 5.9% summits and trade events
Net impairment loss on financial assets 0.2 (0.7) - - • Administrative costs
increased professional fees relating to the
Total opex 206.3 208.3 (1.0)% 1.9%
sale process and additional investment in
Total 256.4 268.1 (4.4)% (1.6)% business IT and software

Adjusted costs are calculated before amortisation of intangible assets (excluding other software), share-based payments, gain/loss on fair
value of forward foreign exchange contracts and exceptional items.

16 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Balance sheet
31 March 2021 31 March 2020
£m £m
• Goodwill and intangible assets
Non-current assets 5,781.4 1,956.0
increased to £5.6 billion due to the
Trade and other receivables 317.0 242.2 OSIsoft acquisition

Contract assets 215.6 142.4 • AVEVA drew down a US$900 million

term loan in March 2021 to part
Net cash and cash equivalents 286.6 114.5 finance the OSIsoft acquisition
Other current assets 27.2 20.3 • A proportion of the year end
cash was committed
Total assets 6,627.8 2,475.4
to pay transaction related costs –
Trade and other payables 271.3 149.5 cash at 16 May 2021 £217.1 million
Contract liabilities 239.7 177.0

Loans and borrowings 654.0 -

Shareholders’ equity 5,192.7 1,941.7

Other liabilities 270.1 207.2

Total shareholders’ equity and liabilities 6,627.8 2,475.4

17 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Overview of the
new AVEVA

Peter Herweck, CEO

18 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Accelerating the digital transformation of the industrial world
Connecting the power of information and artificial intelligence with human insight
• Strength across Engineering and Operational software
• Clear global leader in operational industrial software
• Combination or Engineering and Operational software make AVEVA core to
customers’ Digital Twins
• Increasing diversified end market exposure
• Energy: Significant role to play in energy transition
• Power: Global end market forecast to more than double
• Food & Beverage, CPG1 and Life Sciences: ongoing digitalisation

AVEVA 2021

AVEVA 2018
AVEVA 2017

1 CPG=Consumer Packaged Goods; MMM=Metals, Mining, Minerals

19 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Bringing together two trusted, world-class software experts
Delivering end-to-end customer value with best-of-breed industrial software

1 Better data
Accuracy, reliability, context,
scope and scale

2
Comprehensive industrial software to PI System is the industry standard for
optimise engineering and operations operational data management Smarter solutions
With better integration, while
maintaining neutrality

3 Proven outcomes
Efficiency, agility, reliability,
sustainability

Big Data Industrial IoT/Edge Cloud Artificial Intelligence Digital Twin Connected Worker

20 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Unlocking Performance Intelligence
Enabling a common digital thread across engineering and operations

EXPERIENCE AV E VA C O N N E C T C L O U D P L AT F O R M | AV E VA F L E X S U B S C R I P T I O N P R O G R A M

V I S UA L I SAT I O N C O M M O N V I S UA L I S AT I O N , C L O U D B A S E D , M U LT I - E X P E R I E N C E

PROCESS ENGINEERING PROJECT OPERATIONS ASSET VALUE CHAIN

SIMULATION AND DESIGN EXECUTION CONTROL PERFORMANCE OPTIMISATION
L I F EC YC L E
MANAGEMENT Front-End Procurement,
Edge, Site,
Asset Strategy Planning, Scheduling
Conceptual Design Engineering, Construction, Asset Analytics Operations Execution,
Enterprise Control
Detailed Design Commissioning Asset Reliability Process Optimisation

I N D U S T R I A L I N F O R M AT I O N M A N A G E M E N T
I N F O R M AT I O N
Collect, Store, Contextualise, and Analyse Engineering and Operations Information

21 For Internal Use Only. ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.
 Unified Operations Center
Enterprise visualisation with OSIsoft

Converge and contextualise for

end-to-end enterprise visibility
Real-Time Process Control

Health & Safety

Forecast / Plan

Engineering Data on Critical

Assets

Optimisation and Analytics Enhanced layer of intelligence that ensures

data works in service of organisational goals

22 © 2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Customer example: EDF
Enabling Engineering Efficiency with AVEVA Unified Engineering
• EDF has a vision to produce low-carbon electricity and achieve carbon
neutrality across its portfolio by 2050. Digital transformation is critical to its
success
• EDF has launched a program to accelerate its digital transformation using
AVEVA Unified Engineering
• EDF’s teams will benefit from trusted, data-centric design software that
provides complete digital continuity and boosts engineering efficiency
through the Digital Twin
• EDF also runs fleet-wide monitoring of solar, wind and energy storage
using AVEVA Predictive Analytics combined with PI System operational
data management. The system saved £1.5 million in a single early-warning
catch

23 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Customer example: Henkel
Using data to enhance efficiency and drive sustainability

• Henkel aimed to reduce energy consumption and drive

supply chain efficiency
• Adoption of AVEVA System Platform, AVEVA Historian and
AVEVA Manufacturing Execution Systems has resulted in
benefits including:
• A reduction in energy consumption of 16% in 2020 with
annual savings of €8 million
• Total energy cost savings to date of over €37 million
• Elimination of filling line waste

24 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 OSIsoft integration and value capture
Accelerating value delivery for customers and investors

Revenue Value Creation Cost Business

synergies beyond synergies synergies collaboration with
Schneider Electric
Integrate, cross sell
and up-sell Predictive Subscription Leverage scale Leverage Schneider
Analytics, Unified transition and remove Electric footprint to
Operations Centre Channel enablement duplication accelerate growth
and System Platform
Contract
consolidation

25 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Summary and Outlook
Summary
• Solid financial performance in FY21
with double digit growth in H2
• Significantly enhanced strategic
position
• Positive start to OSIsoft ownership and
integration
Outlook
• Trading has started well in FY22 on a
constant currency basis
• Outlook for AVEVA remains in-line with
the Board’s expectations
• Exciting long-term growth outlook
26 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.
 Appendices

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 Major currencies on a pro forma basis versus GBP
Approximate
Local currency FY21 average Local currency spot rate vs.
percentage of
vs. FY20 average FY21 average
revenue
USD 64% (3.0)% (4.6)%
Euro 9% (1.6)% (3.9)%
GBP 6% - -
KRW 4% (0.2)% (3.6)%
JPY 3% (1.8)% (7.3)%
CNY 3% (0.8)% (1.7)%
CAD 2% (2.6)% (0.5)%
Other 9% (6.7)% (4.1)%
Total 100% (2.7)% (4.1)%

29 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Standalone AVEVA income statement
FY21 FY20 • Organic constant currency revenue
Year ended March 2021 Change
£m £m grew 0.2% with H2 growth of 10.6%
Revenue 803.0 833.8 (3.7)% • Adjusted costs reduced by 3.4% on an
Cost of sales (179.0) (190.1) (5.8)% organic constant currency basis
Gross profit 624.0 643.7 (3.1)% • Adjusted EBIT margin improved by
Gross margin 77.7% 77.2% 50bps 1.1% to 27.1%
Total opex (406.0) (426.9) (4.9)%

Adjusted EBIT* 218.0 216.8 0.6%

*Adjusted EBIT, profit before tax, adjusted profit margin and adjusted diluted earnings per share are calculated before amortisation of intangible assets (excluding other
software), share-based payments, gain/loss on the fair value of forward foreign exchange contracts and exceptional items. Adjusted earnings per share also includes the tax
effects of these adjustments.

29 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Standalone AVEVA exceptional and normalised items
• Acquisition activities related to acquisition
FY21 FY20 costs associated with OSIsoft
Year ended 31 March
£m £m
• Integration activities related to the tail-end
Acquisition costs 44.4 0.8 of integration activities related to the
Schneider Electric Industrial Software
Integration activities 37.3 28.2 business

Restructuring costs 2.3 1.7 • Cash exceptionals paid were £63.2 million
• Amortisation relates to the amortisation of
Other income (5.5) (11.9)
the fair valued heritage AVEVA intangible
Total exceptional items 78.5 18.8 assets under acquisition accounting,
following the combination with the
Schneider Electric industrial
software business
Amortisation (excl. other software) 90.5 90.6
• Other income relates to reimbursement of
Share based payments 16.3 12.0 capital expenditure on integration activities
from Schneider Electric
(Gain) / Loss on FX contracts (0.7) 0.4

Total normalised items 106.1 103.0 In addition there is amortisation of £5.2m in relation to
the acquisition of intangible assets from OSIsoft

30 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 OSIsoft income statement
FY21 FY20 • Organic constant currency revenue
Year ended March 2021 Change
£m £m grew 6.6% with H2 growth of 10.6%
Revenue 393.1 379.4 3.6% • H1 FY21 revenue was £179.8m
Cost of sales (50.1) (59.8) (16.2)% representing organic constant
Gross profit 343.0 319.6 7.3% currency growth of 2.0%
Gross margin 87.3% 84.2% 310bps • Adjusted costs reduced by 7.8% on an
Total opex (206.3) (208.3) 1.0%
organic constant currency basis
Adjusted EBIT* 136.7 111.3 22.8% • Adjusted EBIT margin improved by
5.5% to 34.8%

*Adjusted EBIT, profit before tax, adjusted profit margin and adjusted diluted earnings per share are calculated before amortisation of intangible assets (excluding other
software), share-based payments, gain/loss on the fair value of forward foreign exchange contracts and exceptional items. Adjusted earnings per share also includes the tax
effects of these adjustments.

31 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Combined statutory cash flow statement
FY 21 FY 20
Year ended 31 March 2021
£m £m

Net cash from operating activities before tax 91.2 161.4

Tax paid (32.8) (39.3)

Purchase of PPE and intangible assets (11.4) (19.1)

Payment on disposal of pension scheme (0.3) (2.0)

Acquisition of subsidiaries, net of cash acquired (3,029.5) (25.1)

Restricted cash from acquisition of business – held in escrow (7.3) -

Net payment for forward contracts under hedge accounting (74.2) -

Proceeds from sale of subsidiaries, net of cash - 5.5

(Purchase)/sale of treasure deposits (0.2) 0.5

Net interest (2.3) (3.0)

Dividends paid (82.4) (71.7)

Purchase of own shares (1.1) (3.1)

Proceeds from borrowings, net of fees incurred 645.6 -

Net proceeds from rights issue 2,806.9 -

Payment of facility arrangement fees (2.0) -

Lease liabilities paid (18.5) (15.5)

Change in net cash and cash equivalents 281.7 (11.4)

Foreign exchange movement (109.6) (1.3)

Opening net cash and cash equivalents 114.5 127.2

Closing net cash and cash equivalents 286.6 114.5

33 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.
 Standalone AVEVA Cash Flow
FY21 FY20
Year ended 31 March 2021
£m £m

Adjusted EBIT 218.0 216.8

Depreciation 27.3 24.4

R&D tax credit (3.1) (2.3)

Amortisation not normalised 0.6 1.1

Trade and other receivables, contract assets and liabilities (90.3) (47.2)

Trade and other payables 20.1 (1.6)

Other 0.7 (1.0)

Net cash from operating activities before tax excl exceptionals paid 173.3 190.2

Cash conversion excl exceptionals paid 79779%9% 88%

Exceptional items paid1 (63.2) (28.8)

Net cash from operating activities before tax 110.1 161.4

Cash conversion 5051%% 74%

1Exceptionals paid includes £27.1m relating to acquisition costs

33 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Standalone AVEVA: Timing of revenue
Original disclosure Updated disclosure
AVEVA only OSIsoft Total
Point in time H1 2020 H2 2020 FY 2020 H1 2021 H1 2020 H2 2020 FY 2020 H1 2021 H2 2021 FY 2021 FY 2021 FY 2021
Subscriptions 83.8 144.9 228.7 53.2 Subscriptions 98.0 130.7 228.7 55.0 174.9 229.9 6.2 236.1
Perpetual licences 85.4 93.9 179.3 61.7 Perpetual licences 85.4 93.9 179.3 61.7 74.8 136.5 5.1 141.6
169.2 238.8 408.0 114.9 183.4 224.6 408.0 116.7 249.7 366.4 11.3 377.7
Over time Over time
Maintenance 101.5 100.2 201.7 99.6 Maintenance 101.5 100.2 201.7 99.6 92.7 192.3 5.4 197.7
Subscriptions 57.2 30.9 88.1 60.7 Subscriptions 43.0 45.1 88.1 58.8 64.3 123.1 0.5 123.6
Services 64.0 72.0 136.0 57.4 Services 64.0 72.0 136.0 57.4 63.8 121.2 0.2 121.4
222.7 203.1 425.8 217.7 208.5 217.3 425.8 215.8 220.8 436.6 6.1 442.7
Subscriptions % Subscriptions %
Point in time 59% 82% 72% 47% Point in time 70% 74% 72% 48.3% 73.1% 65.1% 92.5% 65.6%
Over time 41% 18% 28% 53% Over time 30% 26% 28% 51.7% 26.9% 34.9% 7.5% 34.4%

• Upon detailed review, FY20 H1 disclosure split between overtime and point in time subscription revenue was misstated.

34 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 Definitions & terms
• ARR: Annualised Recurring Revenue. The value of the contracted recurring revenue from subscriptions and maintenance in a one-year period
• Billings: Sales invoicing to customers net of sales taxes.
• Organic constant currency revenue: Excludes the impact of business combinations and divestments, reverse acquisition accounting adjustments and currency translation.
• Recurring revenue: Subscription plus Maintenance revenue.
• Adjusted profit before tax, adjusted EBIT and adjusted earnings per share: Calculated before amortisation of intangible assets (excluding other software), share-based
payments, gain/loss on fair value of forward foreign exchange contracts and exceptional items. Adjusted earnings per share also include the tax effects of these adjustments.
• Cash conversion: Net cash from operating activities before tax as a percentage of adjusted EBIT.
• The Combination: The combination between AVEVA Group plc and the Schneider Electric industrial software business that completed on 1 March 2018.
• Maintenance: Support and maintenance payments for software acquired through Perpetual licences.
• Subscriptions: Fixed term rental and token contract and licences that are paid for on a subscription basis.
• Perpetual licences: Software licences with an upfront payment and optional or mandatory maintenance, with no end date for usage.
• APM: Asset Performance Management. Software to maximise Return on asset investments.
• EPC: Engineering, Procurement, and Construction companies.
• AVEVA Flex: AVEVA’s token-based Subscription offering.

35 ©2021 AVEVA Group plc and its subsidiaries. All rights reserved.

 linkedin.com/company/aveva
@avevagroup

ABOUT AVEVA
AVEVA, a global leader in industrial software, drives digital transformation for industrial organizations
managing complex operational processes. Through Performance Intelligence, AVEVA connects the
power of information and artificial intelligence (AI) with human insight, to enable faster and more
precise decision making, helping industries to boost operational delivery and sustainability. Our
cloud-enabled data platform, combined with software that spans design, engineering and operations,
asset performance, monitoring and control solutions delivers proven business value and outcomes to
over 20,000 customers worldwide, supported by the largest industrial software ecosystem, including
5,500 partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, UK, with over
6,000 employees at 90 locations in more than 40 countries. For more details visit: www.aveva.com

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