Ferretti Group

AGM Information • Apr 22, 2024

Informazione Regolamentata n. 0425-17-2024	Data/Ora Inizio Diffusione 22 Aprile 2024 12:10:43		Euronext Milan
Societa'	:	FERRETTI
Identificativo Informazione Regolamentata	:	189343
Utenza - Referente	:	FERRETTIEST01 - MARGHERITA SACERDOTI
Tipologia	:	3.1
Data/Ora Ricezione	:	22 Aprile 2024 12:10:43
Data/Ora Inizio Diffusione	:	22 Aprile 2024 12:10:43
Oggetto	:	Press Release Post-Shareholders' Meeting 22.04.2024
Testo del comunicato

Vedi allegato

PRESS RELEASE

SHAREHOLDERS' MEETING OF FERRETTI S.P.A. APRIL 22nd, 2024

• Approved the individual financial statements of Ferretti S.p.A. for the year ended on December 31st, 2023 and reviewed the consolidated financial statements of the Ferretti Group for the year ended on December 31st, 2023
• Profit for the year of Ferretti S.p.A. of Euro 86,354,642.99 as at December 31st, 2023 (Euro 52,394,735.56 as at December 31st, 2022)
• Resolved to distribute a dividend to shareholders in the amount of Euro 0.097 for each of the n. 338,482,654 issued and outstanding shares, net of any treasury shares, as of the ex-dividend date, for a maximum amount of Euro 32,832,817.44, with payment date on June 26th, 2024, ex-dividend date on June 24th, 2024 and record date on June 25th, 2024
• Net revenue new yachts at Euro 1,110.9 million (Euro 996.1 million as at December 31st, 2022)
• Adjusted EBITDA of Euro 169.2 million with margin of 15.2% (Euro 140.0 million as at December 31st, 2022)
• Net financial position of Euro 281.1 million of net cash (Euro 365.0 million of net cash as at December 31st, 2022)
• Approved, with a binding vote, the first section of the report on the remuneration policy and compensation paid prepared pursuant to Article 123-ter of Legislative Decree No. 58 of 24 February 1998 (the "CFA") (i.e. the remuneration policy for the financial year 2024)
• Casting a favourable advisory vote on the second section of the report on the remuneration policy and compensation paid prepared pursuant to Article 123-ter of CFA (i.e., the report on compensation paid in the financial year 2023)
• Integration of the Board of Directors through the appointment, pursuant to Article 2386 of the Italian Civil Code, of Zhang Quan and Zhu Yi as directors

Forlì, April 22nd, 2024 – The Shareholders' Meeting of Ferretti S.p.A. ("Ferretti" or the "Company") – a company listed on the regulated market Euronext Milan, organised and managed by Borsa Italiana S.p.A, and on the Stock Exchange of Hong Kong – met today, in a single call, under the chairmanship of Tan Xuguang, in the manner set forth in Article 106, paragraph 2, of Decree-Law No. 18 of 17 March 2020, converted into law with amendments by Law No. 27 of 24 April 2020, the effectiveness of which was last extended by Law No. 21 of 5 March 2024.

Financial statements for the year ended on December 31st, 2023

The Shareholders' Meeting examined and approved Ferretti's individual financial statements for the year ended on December 31st, 2023, which recorded a profit of Euro 86,354,642.99.

The Shareholders' Meeting also acknowledged the consolidated financial statements of the Ferretti Group for the year ended on December 31st, 2023.

Allocation of the Profit for the Year and Distribution of a Dividend

The Shareholders' Meeting also resolved to allocate the year's profit of Euro 86,354,642.99 as follows:

• to legal reserve in the amount of Euro 4,317,732.15, pursuant to Article 2430 of the Italian Civil Code;
• to the distribution, in favour of shareholders, of Euro 0.097 for each of the n. 338,482,654 Ferretti S.p.A. ordinary shares that will be issued and outstanding at the ex-dividend date (net of any treasury shares that will be in the portfolio at the record date and not yet cancelled) as a dividend, for a total maximum amount of Euro 32,832,817.44;
• to retained earnings the residual portion of said earnings, for a total minimum amount of Euro 49,204,093.40, which may increase in relation to the dividend not distributed against the treasury shares that will be in portfolio at the record date.

The dividend will be payable with ex-dividend date June 24th, 2024, record date June 25th, 2024 and payment date June 26th, 2024.

For further information, please refer to the explanatory report on the 1st (first) item on the agenda of the Ferretti Shareholders' Meeting of April 22nd, 2024, available on the Company's website, www.ferrettigroup.com, section "Corporate Governance" and on the authorised storage mechanism "eMarket Storage", at .

Report on the remuneration policy for the financial year 2024 and compensation paid in the financial year 2023 pursuant to Article 123-ter of CFA

The Shareholders' Meeting has (i) approved with a binding vote – pursuant to and for the purposes of Article 123-ter, paragraphs 3-bis and 3-ter, of CFA – the first section of the report on the remuneration policy and compensation paid prepared pursuant to Article 123-ter of CFA (i.e., the remuneration policy for the 2024 financial year); and (ii) cast a favourable advisory vote – pursuant to and for the purposes of Article 123 ter, paragraph 6, of CFA – on the second section of the report on the remuneration policy and compensation paid drafted pursuant to Article 123-ter of CFA (i.e., the report on compensation paid in the 2023 financial year).

For further information, please refer to (i) the illustrative report on the 2nd (second) item on the agenda of the Ferretti Shareholders' Meeting of April 22nd, 2024, available on the Company's website, www.ferrettigroup.com, section "Corporate Governance" and on the authorised storage mechanism "eMarket Storage", at ; and (ii) the report on the remuneration policy and compensation paid, available on the Company's website, www.ferrettigroup.com, section "Corporate Governance" and on the authorised storage mechanism "eMarket Storage", at .

Integration of the Board of Directors by appointing, pursuant to Article 2386 of the Italian Civil Code, Zhang Quan and Zhu Yi as directors

The Shareholders' Meeting integrated the Board of Directors by appointing, pursuant to Article 2386 of the Italian Civil Code, Zhang Quan and Zhu Yi, as non-executive directors of Ferretti, until the date of termination of the term of office of the Board of Directors currently in office (i.e., until the date of the Shareholders' Meeting called to approve Ferretti's financial statements for the year ending on December 31st, 2025).

Zhang Quan and Zhu Yi have declared that there are no causes of ineligibility and incompatibility and that they meet the requirements of eligibility, professionalism and honourableness prescribed by current regulations.

As of today's date, Zhang Quan and Zhu Yi do not hold any interest in Ferretti's share capital.

The curricula vitae of Zhang Quan and Zhu Yi are available on the Company's website www.ferrettigroup.com, "Corporate Governance" section.

For further information, please refer to the explanatory report on the 4th (fourth) item on the agenda of the Ferretti Shareholders' Meeting of April 22nd, 2024, available on the Company's website, www.ferrettigroup.com, section "Corporate Governance" and on the authorised storage mechanism "eMarket Storage", at .

Deposit of documents

The voting summary and the minutes of the Shareholders' Meeting will be made available to the public, within the terms and in the manner prescribed by law, at Ferretti's registered office and on Ferretti's website, www.ferrettigroup.com, "Corporate Governance" section, as well as at the authorised storage mechanism "eMarket Storage", at .

The Manager in charge of preparing the Company's financial reports, Marco Zammarchi, declares, pursuant to Article 154-bis, paragraph 2, of CFA, that the accounting information contained in this press release corresponds to the documented results, books and accounting records.

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Ferretti Group

Building on the legacy of Italy's centuries-old nautical tradition, the Ferretti Group is a world leader in the design, construction and sale of luxury motor and pleasure yachts, with a unique portfolio of prestigious and exclusive brands: Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line and Wally. Led by CEO Mr. Alberto Galassi, the Ferretti Group owns and operates seven shipyards located throughout Italy that combine efficient industrial production with world-class Italian craftsmanship and is able to reach customers in more than 70 countries around the world thanks to its direct presence in Europe, the United States and Asia and its network of about 60 carefully selected third-party dealers. Ferretti Group's motor yachts, the ultimate expression of Made in Italy creative genius and elegance, have long stood out for their exceptional quality, state-of-the-art technological solutions, safety records and excellent performance at sea, as well as their exclusive design and timeless appeal.

For more information: www.ferrettigroup.com

Investor Relations

Head of Investor Relations Margherita Sacerdoti Email: margherita.sacerdoti@ferrettigroup.com T.+39 02 83994 000

Email: Investorrelations@ferrettigroup.com

Ferretti Group Head of Media Relations

Giovanni Bogetto Email: Giovanni.bogetto@ferrettigroup.com T.+39 02 83994 000

Barabino & Partners

Federico Vercellino f.vercellino@barabino.it Mob: +39 331.5745171 Virginia Bertèv.berte@barabino.it Mob: +39 342.9787585