3 - Initial application of IFRS

The reconciliation of the statement of financial position according to Dutch GAAP and IFRS at the date of adoption (January 1, 2022) is as follows (rounding differences may exist in the presentation):

The reconciliation of the statement of financial position according to Dutch GAAP and IFRS at December 31, 2022 is as follows (rounding differences may exist in the presentation):

The main differences in the presentation of the statement of financial position as at January 1 and December 31, 2022 were caused by:

• IFRS 10: deconsolidation of a partnership contract through a general partnership ("joint operation")

• IFRS 15: presentation of contract assets and receivables and contract obligations

The main holding gains and losses in the statement of financial position as at January 1 and December 31, 2022 were caused by:

• IFRS 10: valuation at present value of the earn-out and the obligation to buy the non-controlling interest in two group companies

• IFRS 15: profit recognition on contracts with customers

• IFRS 16: valuation of assets in use (leases, means of transport and ICT data centres) and lease liabilities

The reconciliation of the income statement according to Dutch GAAP and IFRS for 2022 is as follows (rounding differences may exist at the presentation):

The main effects of the differences in profit and loss for 2022 were mainly caused by:

• IFRS 3: annual impairment analysis of goodwill instead of amortization

• IFRS 10: deconsolidation of a partnership contract through a general partnership ("joint operation")

• IFRS 16: Depreciation of assets in use instead of rental and lease costs

The adoption of IFRS as of January 1, 2022 did not have a significant impact on the cash flow statement for the year ended December 31, 2022.

Mandatory applications and Optional Exemptions

The main mandatory and optional exemptions applied to the adoption of IFRS are:

• IFRS applied to the consolidated financial statements of Unica Groep B.V. The financial statements of Unica Groep B.V. have been prepared in accordance with the provisions of Part 9 of the Dutch Civil Code and in accordance with the principles of IFRS. The latter implies that control is the basis for forms of cooperation and that the consolidated equity and result correspond to the equity and result of the company accounts.

• IFRS 1 requires full retrospective application of IFRSs for first-time adopters. However, it provides a number of mandatory exceptions and optional exemptions from full retrospective application. Gains and losses identified as a result of the initial application of IFRS are recognized in equity. Where differences are not identified in the tables as measurement or recognition differences, it is assumed that the differences are not material or non-existent. (IFRS 1)

• In the revaluation of goodwill and the resulting reversal of goodwill amortization has not been modified further back than January 1, 2022. From adoption date on January 1, 2022, Unica Group tests capitalized goodwill annually for impairment. Under Dutch GAAP the costs related to business combinations are capitalized as part of the consideration transferred and under IFRS recognized through profit or loss. Acquisition costs capitalized as of adoption date before the adoption date of January 1, 2022 have not been adjusted. However, adjustments were made for acquisitions after January 1, 2022 (IFRS 3).

• The same applies to the valuation of property, plant and equipment and other tangible fixed assets

• At the date of the adoption, Unica Groep B.V. determined that the financial assets were adequately valued. Unica Groep B.V. has chosen not to apply hedge accounting and, in view of the predominantly expected short period of collection, no discounting has been applied (IFRS 9)

• Non-controlling interests and earn-outs are recalculated annually to fair value. Joint ventures through private limited partnerships are accounted for using the equity method. Cooperation contracts through a general partnership with full shared control are recognized by Unica Groep B.V. for its share of assets and liabilities (IFRS 10)

• Customer contracts concluded per adoption date have not been restated as the performance obligations are assumed to have been fully fulfilled and any risks to have been fully transferred to the customer. (IFRS 15)

• For the application of rights of use of assets (office and warehouse locations, vehicles and data centers), the start date is assumed to be January 1, 2022. Some of the leased assets (vehicles) have been valued using a portfolio approach. In view of the relatively short period of lease, a single discount rate is applied. Short-term and intangible rental and lease contracts are not presented and measured under rights of use of assets. Renewal options are only taken into consideration when they are committed (IFRS 16).