De'Longhi

M&A Activity • Nov 23, 2020

THE ACQUISITION OF by

November 23, 2020

CAPITAL BRANDS AT A GLANCE

Founded in 2003 and headquartered in Los Angeles, develops, markets and distributes SDA, with a focus on blending appliances

Robust product portfolio supported by two disruptive brands in the blending segment: NutriBullet® and Magic Bullet®

#1 Brand in Personal Blending¹

THE BRANDS

A lifestyle brand platform, focused on accessible nutrition

Activates a highly engaged, youthful and loyal customer

Full funnel, performance driven marketing approach

Representing the products differently at shelf, in the marketing and at every customer touchpoint – using not only delicious blends but also joyful, bright colors that evoke feelings of love and happiness

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MAIN PRODUCTS

Description: 600 Watt compactyet-powerful personal blender Positioning: Market share leader in single serve category Price Range: \$49.99 – \$149.99 Amazon rating:

Description: 1,200 Watt full-size Blender Positioning: Fastest growing full sized blender Price Range: \$99.99 – \$139.99 Amazon rating:

Description: 250 Watt compact Blender Brand Positioning: Fastest growing value brand in the category Price Range: \$29.99 – \$69.99 Amazon rating:

Description: Food blender that can puree and store baby food Positioning: Repositioned in 2019 #1 Brand Baby Food Prep Price Range: \$59.99 Amazon rating:

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THE ACQUISITION OF CAPITAL BRANDS GLOBAL PRESENCE Current Markets Whitespace Opportunity

• Products are sold across major retailers in US and Canada
• Significant points of distribution gains across retail channels over the last two years
• Opportunity to leverage relationships with current retailers to expand into new categories
• Access to over 100 countries through an impressive network of domestic retailers, international distributors and an elevated e-Commerce experience

MARKET LEADERSHIP

OMNICHANNEL MARKETING APPROACH

Television & OLV Display Ads Paid Social Organic Social

INVESTMENT HIGHLIGHTS

Large and growing market supported by mega-trends within health and wellness

The products serve a diverse consumer base across segments, with the core consumer being the healthy aspirational who is looking for simple and easy solutions to create healthier lifestyles for themselves and their families

Brand power extension throughout the kitchen

World-class management team with years of industry experience

3.2 M Social Media Followers¹

¹ U.S. social media follower benchmarking as of July 2020. Based on number of followers on major social media platforms including Instagram, Twitter, Facebook, Youtube and TikTok.

THE MAIN STRATEGIC GOALS SUPPORTING THE ACQUISITION

Surfing the mega-trends within nutrition and healthy food

Further expansion in North America

Getting a fresh and dynamic brand

Acquiring leadership in the personal blending category

Strenghtening our leadership in the Food Preparation segment

TRANSACTION HIGHLIGHTS

Price of approximately \$ 420 million

2020 forecast adjusted EBITDA multiple just above 8 times

Expected to be accretive to De' Longhi from next year

Consideration will be paid by drawing on De' Longhi Group's existing liquidity reserves

Closing expected to take place before year end 2020

Disclaimer

Closing is subject to obtaining the authorization by the competent antitrust authorities.

This presentation might contain certain forward-looking statements that reflect the company's current views with respect to future events and financial and operational performance of the company and its subsidiaries.

Forward looking statements are based on De' Longhi's current expectations and projections about future events. The forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those contained in the forward looking statements. Potential risks and uncertainties include such factors as general economic conditions, foreign exchange fluctuations, competitive product and pricing pressures and regulatory developments, many of which are beyond the ability of De' Longhi to control or estimate. Consequently, De' Longhi S.p.A. cannot be held liable for potential material variance in any looking forward in this document.

Any forward-looking statement contained in this presentation speaks only as of the date of the document. Any reference to past performance or trends or activities of De' Longhi S.p.A. shall not be taken as a representation or indication that such performance, trends or activities will continue in the future. De' Longhi S.p.A. disclaims any obligation to provide any additional or updated information, whether as a result of a new information, future events or results or otherwise.

This presentation does not constitute a public offer under any applicable legislation or an offer to sell or solicitation of an offer to purchase or subscribe for securities or financial instruments or any advice or recommendation with respect to such securities or other financial instruments.

The manager responsible for preparing the company's financial reports declares, pursuant to paragraph 2 of Article 154-bis of Legislative Decree no. 58 of February 24 1988, that the accounting information contained in this presentation corresponds to the results documented in the books, accounting and other records of the company.

THANK YOU.

Contacts:

Investor Relations: Fabrizio Micheli / Samuele Chiodetto T: +39 0422 4131 investor.relations@delonghigroup.com