Fiera Milano

Investor Presentation • May 13, 2024

Fiera Milano Results as of 31 March 2024

13 May 2024

TODAY'S SPEAKERS

2

> 20 years in Fiera Milano

▪ Relevant experience:

▪ CEO and General Manager of Fiera Milano Congressi, Marketing Director of Fiera Milano

6 years in Fiera Milano

▪ Relevant experience: ▪ Group Planning & Control Director at Fiera Milano, CFO at Fiat Chrysler Automobiles UK and Belgium

Head of IR & Sustainability

2 year in Fiera Milano

▪ Relevant experience:

▪ IR & ESG Manager at Cerved Group, M&A and Equity Capital Markets Associate at Mediobanca

AGENDA

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

STRONG SET OF OPERATIVE KPI

• 16 exhibitions in Q1 2024 (15 in Italy and 1 abroad; 6 organized and 10 hosted) vs. 14 exhibitions in Q1 2023
• 29 congresses (of which 7 with related exhibition area) vs. 30 congresses in Q1 2023
• 361,370 sqm occupied (346,160 sqm Italy, 4,105 sqm abroad and 11,105 sqm conferences with related exhibition area) vs. 256,880 sqm in Q1 2023

BUSINESS REVIEW

SNAPSHOT OF DIVISIONAL RESULTS – LEGAL ENTITIES VIEW

Italian Exhibition business	Q1 2023	Q1 2024	Δ (€)
Revenues (€m)	40,5	64,7	+24,1
EBITDA (€m)	7,6	23,1	+15,4	87%
N. exhibitions	13	15
o/w directly organized	5	5
o/w hosted	8	10
Square meters Italy	230.335	346.160

Foreign Exhibition business	Q1 2023	Q1 2024	Δ (€)
Revenues (€m)	0,9	0,9	n.m
EBITDA (€m)	-0,6	-0,2	+0,4	1%
N. Exhibitions	1	1
o/w directly organized	1	1
Square meters abroad	3.855	4.105

Congresses (Allianz MiCo)	Q1 2023	Q1 2024	Δ (€)
Revenues (€m)	8,8	9,3	+0,5
EBITDA (€m)	1,9	2,8	+0,9	12%
n. congresses	30	29
o/w with exhibition area	11	7
Square meters exhibition areas	22.690	11.105

B

A

C

B

+

+

C

A

	Fiera Milano Consolidated	Q1 2023	Q1 2024	Δ (€)
	Revenues (€m) (net of Elisions)	48,1	72,4	+24,2
EBITDA (€m)		8,9	25,7	+16,8
	EBITDA Margin %	18,4%	35,5%
	N. Exhibitions	14	16
o/w directly	organized	6	6
o/w hosted		8	10
Square	meters consolidated
(A+B+C)		256.880	361.370

• Revenue growth of + 60% primarily due a strong performance of annual events in both exhibition space and services and positive calendar effect with MCE
• EBITDA growth largely attributed to the positive revenue trends, combined with:
  • Lower energy costs vs. Q1 2023
  • Increased personnel expenses due to a new hiring program following the 2024-2027 Strategic Plan execution
• Revenues of €0,9m in Q1 2024 (in line with Q1 2023), primarily related to the ICTAF 2024 contemporary art show organized by the South African subsidiary
• No exhibitions scheduled in Brasil and China in Q1 2024 led to a negative EBITDA, despite the positive EBITDA contribution from the joint venture with Deutsche MESSE AG, primarily through the "representative business", involving the promotion of Chinese collectives at events in Germany and Italy
• Revenue growth of + 6% primarily driven by events such as the Zurich convention, the Oracle CloudWorld Tour Milano, the EBCC - European Breast Cancer Conference, and the FIF (professional physiotherapy expo). This growth was somewhat offset by the absence of the EAU (European Association of Urology) conference, taking place in Q1 2023
• EBITDA growth of + 52% largely attributed to the positive revenue trends and N.M. = not meaningful reduced energy costs vs. Q1 2023

At consolidated level:

• REVENUE GROWTH OF + 50%
• SIGNIFICATIVE EBITDA GROWTH
• IMPROVED EBITDA MARGIN, REACHING 35,5% IN Q1 2024

REVENUE GROWTH CONTRIBUTION - BUSINESS LINE VIEW

FIERA MILANO Q1 2024 SQM GROWTH CHAMPIONS SELECTED ITALIAN EXHIBITIONS

ORGANIZED HOSTED

+

ALL

Q1 2023 Q1 2024

48 62

3

5

16 27

^{16 17}

FINANCIAL REVIEW

11

INCOME STATEMENT

4

	Consolidated Income Statement (€m)	Q1 2022	Q1 2023	Q1 2024	Δ (€) Q1 24/23
1	Revenues	23.5	48.1	72.4	+24.2
	Cost of materials	0.5	0.7	0.7	+0.0
	Cost of services	14.0	26.0	32.9	+6.9
	Costs for use of third-party assets	0.2	0.3	0.2	+0.0
	Personnel expenses	10.8	11.3	12.2	+0.9
	Other operating expenses	0.5	0.8	1.1	+0.2
	Total operating costs	25.9	39.0	47.0	+8.0
	Other income	0.7	0.7	0.8	+0.1
	Results of equity-accounted companies	(0.7)	(0.9)	(0.4)	+0.6
	Allowance for doubtful accounts and other provisions	(0.1)	0.0	0.1	+0.1
2	EBITDA	(2.4)	8.9	25.7	+16.8
	Depreciationandamortisation	11.8	13.1	12.9	-0.1
	Adjustments to asset values	0.0	0.0	0.0	+0.0
	EBIT	(14.2)	(4.2)	12.8	+17.0
3	Financial income/(expenses)	(3.1)	(2.7)	(1.8)	+1.0
	Valuation of financial assets	-	-	-	-
	Profit/(loss) before income tax	(17.3)	(6.9)	11.0	+17.9
	Income tax	(4.4)	1.1	3.4	+2.3
	Profit/(loss) from continuing operations	(13.0)	(8.1)	7.6	+15.7
	Profit/(loss) from discontinued operations	0.0	16.5	0.0	-16.5
	Profit/(loss)	(13.0)	8.4	7.6	-0.8
	o/w attributable to the shareholders of the controlling entity	(12.9)	8.5	7.7	-0.8
	o/w attributable to non-controlling interests	(0.1)	(0.1)	(0.1)	-

▪ Revenues: from Euro 48.1m in Q1 2023 to Euro 72.4m in Q1 2024, an improvement of Euro 24.2m (growth of +50.4% compared to Q1 2023)

• positive calendar effect characterized by the presence of the biennial Mostra Convegno Expocomfort (86k net square meters)
• good general performance of annual events in terms of larger exhibition areas:
  • Annual organized in Italy: +14k sqm; mainly for the first edition of Quick & More (+7.5k sqm); Milano Home (+3.7k sqm) and PTE (+1.8k sqm)
  • Annual hosted in Italy: +15k sqm: mainly for MIDO (+7.9K sqm) and Milano Unica (+6.7 sqm)
  • Biennial hosted in Italy: +86k sqm for Mostra Convegno Expocomfort
  • Abroad: +250 sqm for Cape Town Art Fair

1

2

3

4

• the sale of services (physical and digital) is growing: net of the calendar effect related to the presence of the biennial Mostra Convegno Expocomfort, services are growing by +31% compared to Q1 2023
• growing congress activity (+6.1% vs Q1 2023), mainly for the Zurich convention and for the international conferences Oracle and EBCC - European Breast Cancer Conference; although Q1 2024 is compared with Q1 2023 in which there was the medical-scientific congress EAU - European Association of Urology
• EBITDA: from Euro 8.9m to Euro 25.7m, a positive change of Euro 16.8m:
  • better performance of the events held during the year (favorable revenue trend)
  • lower energy costs linked to a stabilization trend of the PUN (National Single Price)
  • increase in personnel costs corresponding to the ongoing new hiring program, in execution of the 2024- 2027 Strategic Plan
  • positive contribution of the joint venture with Deutsche MESSE AG mainly relating to the representative business
• Financial management: improvement mainly resulting from the higher income relating to the use of liquidity

▪ The net result for the period from continuing operations amounted to Euro 7.6m (up by Euro 15.7m compared to Euro (8.1)m in Q1 2023), while the net result for the period from discontinued operations amounted to zero (Euro 16.5m in Q1 2023 relating to the TUTTOFOOD transaction). The net result presented a profit of Euro 7.6m compared to a profit of Euro 8.4m in Q1 2023

BALANCE SHEET

31/3/2024 Goodwill 95.0 95.0 0.0 1 12.2 11.1 Intangible assets with a finite useful life -1.1 362.0 352.9 -9.1 Right-of-use assets 11.5 11.2 Tangible fixed assets -0.2 1.1 0.9 -0.2 Other non-current financial assets 90.4 Other non-current assets 87.4 -3.0 A 572.2 558.5 -13.7 Non-current assets Inventory and contracts in progress 2.3 3.0 0.7 40.6 36.8 Trade and other receivables -3.8 Other current activities 0.0 0.0 0.0 B 42.8 39.8 Current assets -3.0 effect of: 65.3 49.0 -16.3 Trade payables 39.8 Payments received on account 53.6 13.8 2.9 2.2 -0.7 Tax liabilities Provisions for risks and charges and other current liabilities 33.0 29.8 -3.3 C 141.0 134.5 -6.5 Current liabilities D Net working capital (B - C) (98.2) (94.7) 3.5 E 474.0 463.8 Gross capital employed (A + D) -10.2 7.5 7.4 -0.1 Employee benefit provisions 3.8 3.9 Provisions for risks and charges and other non-current liabilities 0.1 F 11.2 11.3 0.1 Non-current liabilities G NET CAPITAL EMPLOYED cont. operations (E - F) 462.8 452.5 -10.3 H 0.0 0.0 0.0 NET CAPITAL EMPLOYED assets held for sale organizers. 463.0 452.5 -10.3 TOTAL NET CAPITAL EMPLOYED (G + H) covered by: 147.9 155.6 7.7 Equity attributable to the Group Equity attributable to non-controlling interests 0.5 0.5 -0.1 I 148.4 156.0 7.6 Total equity Cash & cash equivalents (99.8) (106.7) -6.8 43.3 47.5 Current financial (assets)/liabilities 4.2 370.9 355.6 -15.3 Non-current financial (assets)/liabilities 3 Net financial debt of continuing operations 314.4 296.5 -17.9 Net financial debt of assets held for sale 0.0 0.0 0.0 L Net financial debt/(Cash) post IFRS16 314.4 296.5 -17.9 EQUITY AND NET FINANCIAL DEBT (I + L) 462.8 452.5 -10.3	Balance Sheet (€m)	As of 31 Dec 2023	As of 31 Mar 2024	Δ 31 Mar 2024/ 31 Dec 2023
1
	2 Net Financial Debt/(Cash) pre IFRS16	(80.9)	(77.6)	3.3	in the last quarter of 2023

• 31/3/2024
• The decrease of Euro 3.5m is attributable to the following components:
• 2 Net Working Capital goes from Euro (98.2)m at 31/12/2023 to Euro (94.7)m at ▪ (a) decrease in Current assets of Euro (3.0)m, due to the combined effect of the decrease in "Trade and other receivables" for Euro (3.8)m and the increase in "Inventory and contracts in progress" for Euro 0.7m (suspended costs for events post Q1 2024).
  • (b) decrease in Current Liabilities of Euro (6.5)m, mainly due to the net effect of:
    • decrease in "Trade payables" by Euro (16.3)m related to payment of trade payables connected to the Q4 2023 events;
    • increase in "Advances" by Euro 13.8m, reflecting the balance between increases for advances invoiced to customers for events to be held in subsequent quarters (especially Saloni and Host) and decreases for events held in the current quarter (especially MCE, Mido, and Milano Home);
    • decrease in "Provisions for risks and charges and other current liabilities" by Euro (3.3)m mainly due to the decrease in liabilities to organizers.
  • Net Financial Debt (pre-IFRS16) goes from a net cash availability of Euro 80.9m at 31/12/2023 to an availability of Euro 77.6m at 31/3/2024

▪ The decrease of Euro 3.3m reflects the cash generation of the quarter related to the results achieved and the advances collected for future events. This effect was more than offset by the advanced payment of the lease (starting from 2024 the lease payment is anticipated) and by the payment to suppliers for the events held

CASH FLOW

Cash Flow (€m)	From 31 Dec 2023 to 31 Mar 2024
EBITDA	25.7
IFRS16 cash out (rents)	(28.3)
Δ Net Working Capital	(3.5)
Capex	(0.3)
Operating Cash Flow	(6.4)
Cash Interests & Income	0.3
Other	2.8
Free Cash Flow	(3.3)

Free Cash Flow generated in Q1 2024: Euro (3.3)m. The main components are:

• EBITDA 3 months: Euro 25.7m;
• IFRS16 cash out (rentals): Euro (28.3)m related to the rent for Q4 2023 and Q1 2024 (from Q1 2024 advanced payment of the rent);
• Liquidity absorption of Euro (3.5)m due to Net Working Capital dynamics:
• (a) decrease in Current Assets of Euro (3.0)m, due to the combined effect of a decrease in "Trade and other receivables" by Euro (3.8)m and an increase in "Inventory and contracts in progress" by Euro 0.7m (suspended costs for events post Q1 2024).
• (b) decrease in Current Liabilities of Euro (6.5)m, mainly due to the net effect of:
  • decrease in "Trade payables" by Euro (16.3)m related to payment of trade payables connected to the Q4 2023 events;
  • increase in "Advances" by Euro 13.8m, reflecting the balance between increases for advances invoiced to customers for events to be held in subsequent quarters (especially Saloni and Host) and decreases for events held in the current quarter (especially MCE, Mido, and Milano Home);
  • decrease in "Provisions for risks and charges and other current liabilities" by Euro (3.3)m mainly due to the decrease in liabilities to organizers.
• CAPEX: Euro (0.3)m
• Other changes for Euro 2.8m mainly related to the reduction of receivables due to the impact of tax consolidation charges arising from the calculation of taxes as of 31 March 2024.

Evolution of the Net Financial Position (Net Cash) pre-IFRS16 from 31 Dec 2023 to 31 March 2024

EXCELLENT FINANCIAL STABILITY

Fiera Milano achieved an excellent financial stability, transforming the Covid-19 emergency into an opportunity to reorganize its financial structure

• Current Assets (Cash and cash equivalents, Current financial assets, Trade receivables, Suspended costs)
• Current liabilities (portion of short-term loans, Debt to Fondazione FM, Other financial liabilities, Portion of short-term lease liabilities, Trade payables, Advances, Provisions for risks and charges, Tax payables, Other current liabilities)
• Equity + Non-current liabilities (Shareholders' equity, Bank loans, Lease Liabilities, Personnel provisions, Provisions for risks and charges, Deferred tax liabilities): shareholders' equity increased due to positive 2023 result, while non-current liabilities decreased due to loan repayments
• Fixed Assets (Tangible fixed assets, Goodwill, Intangible fixed assets, Right to use leased assets, Investments valued at equity)

2024-2027 STRATEGIC PLAN GUIDANCE

Millions of euros	2024	2025	2026	2027
Revenues	245-255	320-340	305-325	355-375
EBITDA	65-75	110-120	90-100	120-130
EBITDA Margin (mid-point)	28%			34%
EBITDA Margin ex. IFRS 16 (mid-point)	6%			20%
Investment Plan			~88
of which Fiera Milano			~53
of which Fondazione Fiera Milano			~35
Overall financial availability			151-171
of which allocated to dividends			At least 40 (~10/ year)
of which allocated to investments in M&A operations			111-131

• Revenues between Euro 355 and 375 million
• An estimated EBITDA between Euro 120 and 130 million
• Over the 2024-2027 plan period, total investments amounting to Euro 88 million are planned, of which Euro 35 million will be supported by Fondazione Fiera Milano for the development of infrastructure projects
• The economic and financial results over the plan period anticipate strong cash generation, resulting in an overall financial availability expected to range between Euro 151 and 171 million over the plan period
  • Of this availability, at least Euro 40 million will be allocated to shareholder remuneration in the form of dividends, highlighting Fiera Milano's commitment to create value for stakeholders
  • The remaining liquidity, estimated between Euro 111 and 131 million, will be directed to supporting corporate growth through external lines
  • Further recourse to debt to finance potential strategic acquisitions is not ruled out

ESG COMMITMENT

FIERA MILANO ESG SCORECARD

14% 45% 41%

54%

44%

Age

Environment Social Governance

% Carpet used sent to recovery

• -9% reduction in waste per sqm from 2019 to 2023
• Photovoltaic plant of 17 MWp
• 35% hybrid car fleet
• Finalist at the UFI¹ Award in the category «Best engagement programme for stakeholders» and «Successful examples of operational measures to reduce the carbon footprint of trade fairs and events»

1) UFI = The Global Association of the Exhibition Industry

THE NEW INTEGRATED SUSTAINABILITY PLAN ENVIRONMENTAL

ESG	DIMENSION OF THE STRATEGIC PLAN 2024- 2027	ESG PRIORITIES	#	TARGET	TIMING	SDGS
			1	• Reduction of Scope 1 + Scope 2 CO2 emissions by at least -60% from 2023 baseline	2027
			2	• Increase the share of electricity from renewable sources from 38% to 70%	2027
		CLIMATE	3	• Implement a single refrigeration system to promote energy savings	2027
L A	Attracting and	CHANGE	4	• Extend LEED certification to pavilions 3 and 4 of the Allianz-MiCo Congress Centre	2024
T N	hosting leading events in Milan		5	• Measure Scope 3 emissions at Group level	2025
E M	every year; Attracting new international conferences and		6	• Set medium- and long-term Science Based Targets (SBTs)	2027
N O R		WASTE AND	7	• Reduce waste production by keeping the annual waste production level below 6.5 kg/sqm	2027
VI	large corporate events.	CIRCULAR ECONOMY	8	• Ensure at least 75% of separate waste collection, reducing the amount of unsorted waste	2027
N E			9	• Achieve at least 50% recycling rate of the carpet laid at Fiera Milano exhibitions	2027
		SUSTAINABLE	10	• Achieve a minimum of 35% of hybrid vehicles within the car fleet	2024
		MOBILITY AND ACCESSIBILITY	11	• Complete the installation of 15 dual charging stations for electric cars in the exhibition district	2024

12 • Providing employees with additional 50 bike-sharing units 2024

THE NEW INTEGRATED SUSTAINABILITY PLAN SOCIAL

ESG	DIMENSION OF THE STRATEGIC PLAN 2024- 2027	ESG PRIORITIES	#	TARGET	TIMING	SDGS
			13	• Increase in the incidence of female gender in managerial positions from 46% to 49%	2027
	1Attracting and hosting leading events in	PEOPLE	14	• Obtain UNI/PDR 125:2022 certification (gender equality)	2024
	Milan every year; 2Attracting new	DEVELOPMENT, WELFARE AND D&I	15	• Increase in the number of training hours by 50% from 2023 baseline (7,024 hours)	2027
	international conferences and large		16	• Obtain employer branding certification from leading international certifier	2027
corporate events. L	HEALTH AND SAFETY	17	• Extension of full-coverage health insurance to 100% of employees	2027
A CI	1 - 2 3Launch new events in high-potential sectors		18	• Launch of a new industrial decarbonization-focused exhibition	2027
O S	4Promoting a substantial increase in	CUSTOMERS AND COMMUNITIES	19	• Launch of a multi-stakeholder forum (EGS Day)	2025
	the penetration of customized stands		20	• Launch of an ESG advisory service for organizers and exhibitors	2025
365 days a year	5Developing a digital offer to enhance the experience of events	DIGITAL TRANSFORMATION	21	• Investment in technology and IT interventions to enhance high-resolution audio and video services at the Allianz-MiCo venue	2025
			22	• Development of the new Digital Platform to improve customer experience	2025

THE NEW INTEGRATED SUSTAINABILITY PLAN GOVERNANCE

ESG	DIMENSION OF THE STRATEGIC PLAN 2024- 2027	ESG PRIORITIES	#	TARGET	TIMING	SDGS
			23	• Obtain ISO 37001 certification (anti-corruption) for Fiera Milano	2024
			24	• Obtain ISO 14001 certification (environmental) for Fiera Milano	2024
		GOVERNANCE AND BUSINESS	25	• Implementation of a Tax Control Framework	2024
E		MANAGEMENT	26	• Initiating an ESG Due Diligence process for all M&A processes	2024
C N	1Attracting and hosting		27	• Definition of MBOs for all executives with ESG weight between 15-20% and execution of the LTI (Long Term Incentive) plan with ESG weight of 20%	2027
A N R	leading events in Milan every year; 2Attracting new	PRIVACY AND CYBERSECURITY	28	• Obtain ISO 27001 certification (information security)	2027
E V	international conferences and large		29	• Ensuring that at least 80% of the value of supplies is covered by ESG screening	2027
O G	corporate events.	RESPONSIBLE SUPPLY CHAIN	30	• Ensuring 100% reputational audits for suppliers > Euro 10k	2024

APPENDIX

Manifestazioni Italia – metri EXHIBITIONS AND CONGRESSES IN Q1 2024

quadrati Italian Exhibitions	Net square	(A) = Annual
	Q1 2023	Q1 2024	(B) = Biennial (M) = Muti
Directly Organized
- Bit (A)	16,165	17,225
- Milano Home (A)	16,010	19,675
- Milano Fashion&Jewels (I semester) (A)	12,630	12,760
- Promotion Trade Exhibition (A)	2,925	4,710
- Quick & More* (A)	-	7,545
Total Directly Organized	47,730	61,915
Hosted
- LineaPelle February (A)	44,020	45,540
- Milano Unica (spring) (A)	24,520	31,205
- Mido (A)	37,980	45,940
- Mipel (March) (A)	4,420	4,500
- My Plant & garden (A)	25,360	26,775
- The Micam (spring) (A)	35,100	32,100
- Filo (I semester) (A)	1,385	1,545
- Fa la cosa giusta (A)	6,110	6,745
- The ONE Milano (February) (A)	3,710	3,970
- Mostra Convegno Expocomfort (B)	-	85,925
Total Hosted	182,605	284,245
Total Italian Exhibitions	230,335	346,160

* The exhibition was held for the first time

	Foreign Exhibitions	Net square meters
		Q1 2023 9M 2022	Q1 2024 9M 2023
	South Africa
	- Cape Town Art Fair (A)	3,855	4,105
	Total Foreign Exhibitions	3,855	4,105

-year

Thank you

CONTACTS:

Investor relations: investor.relations@fieramilano.it Sustainability: sustainability@fieramilano.it

Investor Relations https://investors.fieramilano.it/en Sustainability www.fieramilano.it/en/sustainability.html 2024 Exhibition Calendar www.fieramilano.it/en/calendario.html

NEXT CORPORATE EVENTS:

29 July 24: approval of H1 24 results 13 Nov 24: approval of Q3 24 results

Disclaimer

This presentation and any materials distributed in connection herewith (together, the "Presentation") do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and neither this Presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, or act as an inducement to enter into, any contract or commitment whatsoever.

The information contained in this Presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, reasonableness or correctness of the information or opinions contained herein. None of Fiera Milano S.p.A., its subsidiaries or any of their respective employees, advisers, representatives or affiliates shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this Presentation. The information contained in this Presentation is provided as at the date of this Presentation and is subject to change without notice.

Statements made in this Presentation may include forward-looking statements. These statements may be identified by the fact that they use words such as "anticipate", "estimate", "should", "expect", "guidance", "project", "intend", "plan", "believe", and/or other words and terms of similar meaning in connection with, among other things, any discussion of results of operations, financial condition, liquidity, prospects, growth, strategies or developments in the industry in which we operate. Such statements are based on management's current intentions, expectations or beliefs and involve inherent risks, assumptions and uncertainties, including factors that could delay, divert or change any of them. Forward-looking statements contained in this Presentation regarding trends or current activities should not be taken as a representation that such trends or activities will continue in the future. Actual outcomes, results and other future events may differ materially from those expressed or implied by the statements contained herein. Such differences may adversely affect the outcome and financial effects of the plans and events described herein and may result from, among other things, changes in economic, business, competitive, technological, strategic or regulatory factors and other factors affecting the business and operations of the company. Neither Fiera Milano S.p.A. nor any of its affiliates is under any obligation, and each such entity expressly disclaims any such obligation, to update, revise or amend any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this Presentation.

It should be noted that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of full-year results.