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2022 Highlights

• Digital Business strength driven by cloud: Organic bookings grew 15 percent in the fourth quarter and 12 percent in the full year, in line with guidance. 
• Adabas & Natural (A&N) performance led by subscription shift: Subscription-led bookings growth of 144 percent in the fourth quarter led to full-year A&N bookings growth of 23 percent, ahead of guidance. 
• Cloud demand accelerates: Organic Digital Business annual recurring revenue (ARR) grew 11 percent, driven by Software-as-a-Service (SaaS) where bookings grew three times faster than subscription and continued strong double-digit growth from StreamSets.
• Robust organic product revenue growth: Organic product revenue growth of 24 percent in the fourth quarter drove full-year growth to 7 percent, inside the Group's guidance range. 
• Continued robust organic profit in line with expectations: Fourth-quarter organic operating margin (EBITA, non-IFRS) of 23.1 percent and 21.2 percent for the full year, inside the Group's guidance range.

2023 Priorities

• Accelerate the journey to cloud-first: The Group's high-quality cloud products are driving greater-than-expected demand for cloud, with SaaS organic Digital Business bookings up 30 percent in 2022. The Group will prioritize specific SaaS sales motions for growth products like webMethods.io and StreamSets to capitalize on this market opportunity.
• Double down on innovation in integration: The cloud data and application integration markets are growing at 21 percent, reaching €11 billion by 2026. The Group will direct resources to this area where it has an optimal combination of product leadership, current growth, and future growth opportunity, accelerating innovation for its leading products, webMethods.io and StreamSets.
• Increase sales specialization to drive efficacy and efficiency: The Group will specialize its salesforce to drive greater impact from its growth products, starting in North America. This will increase go-to-market efficacy and also drive further sales efficiency.
• Leveraging the value of A&N: The Group will continue the ongoing shift to subscription which offers an important pathway to cloud re-hosting and the interaction between A&N customers and the Group's wider Digital Business.
• Optimize the operating platform: Increasing the Group's efficiency and productivity through a program that increases operating leverage and delivers a margin benefit of between €30 million and €35 million in 2023 and delivers further benefit thereafter. This will affect roughly 200 employees, or 4 percent of total full-time equivalents (FTEs).