RELY Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	5.11B EUR	4.74B EUR	3.3B EUR	2.91B EUR
Enterprise Value	4.34B EUR	4.11B EUR	2.69B EUR	2.56B EUR
Valuation Multiples
Trailing P/E	17.49x	15.55x	31.2x	51.37x
Forward P/E	14.94x	--	--	--
Price to Sales	2.82x	2.62x	1.91x	2.28x
Price to Book	4.53x	4.21x	3.63x	3.35x
EV/Revenue	2.4x	2.27x	1.56x	2.01x
EV/EBITDA	21.79x	17.91x	14.99x	23.12x
Price to FCF (P/FCF)	26.04x	12.65x	11.41x	13.45x
EV/FCF	22.13x	10.94x	9.3x	11.83x
FCF Yield	3.84%	7.91%	8.76%	7.43%