Servizi Italia

Investor Presentation • Mar 23, 2021

Virtual STAR Conference

Spring Edition, 23 March 2021

¹ www.servizitaliagroup.com

BUSINESS OVERVIEW/1

17.1% Laundry business: washing and rental of textile material in healthcare industry. WASH-HIRE SERVICES

Minor current presence in other industries.

SURGICAL INSTRUMENTS STERILIZATION

Sterilization of surgical instruments and kits and related activities.

Design, Installation, Renovation and Management of CSSDs. Validation and control of sterilization processes.

TEXTILE STERILIZATION

Sterilization of textile (cotton fabrics and Reusable Technical Fabric) for beds and surgical gowns.

Supply of disposable material.

75.4% 181 mln Eur 41 mln Eur 7.5% 18 mln Eur *2020 consolidated revenues

Washing and rental of flat linen (sheets, covers, blankets), tailored linen (gowns, uniforms for healthcare staff), mattresses and pillows. HOMECARE AND HEALTH RESIDENCES

Supply, rental and washing of textile devices. A guarantee of quality, hygiene, safety and traceability.

WASH-HIRE

HOTEL AND RESTAURANTS

Specific, high quality service for national and international hotels, restaurants and catering.

BUSINESS OVERVIEW/2 – Wash-hire services HEALTHCARE 75.4% 181 mln Eur 17.1% 41 mln Eur 7.5% 18 mln Eur *2020 consolidated revenues

BUSINESS OVERVIEW/3 – Textile and Medical Devices Sterilization

TEXTILE STERILIZATION

SURGICAL INSTRUMENTS STERILIZATION

CLINICAL ENGINEERING Sterilization of fabrics and Reusable Technical Fabric for beds and surgical gowns. Supply of procedural kits and surgical drapes. Supply of accessory parts made of disposable material. STERILIZATION AND RENTAL OF MEDICAL DEVICES SUPPLY OF NON WOVEN TEXTILE AND TEXTILE

Management of sterilization units providing sanitizing, packing and sterilization services for surgical equipment and accessories for operating theatres.

Services for the validation and systematic control of sterilization processes, equipment calibration and validation of surgical equipment sanitizing systems.

75.4% 181 mln Eur 7.5% 18 mln Eur 17.1% 41 mln Eur *2020 consolidated revenues

GROUP EVOLUTION Transformation into a multiservice company.

1986 - 2002

1986: Foundation of Servizi Italia, active in laundry sector.

2002: Coopservice acquires 100%of SI share capital.

New perspectives 2006 - 2007

Start of sterilization activities.

2007: IPO at Milan Stock Exchange. Presentation to the

international financial community.

2012: Acquisition of the first laundry in Brazil (other transactions in 2013 and 2015). The early days

2014: Start of sterilization business in Turkey.

2014: Start of greenfield laundry business in India.

2015: Achievement of a sterilization tender in Albania.

2015: Expansion in Turkey in laundry industry, through the acquisition of Ankateks.

International development 2012 - 2015

2008 - 2011

Acquisitions in Italy in laundry industry. Development of sterilization business. STAR qualification at Borsa Italiana.

Consolidation of the existing markets: Acquisitions in laundry industry in Italy (2016) and Albania (2018).

Expansion plans in Brazil. Diversification in new business lines: Acquisition of Steritek (2017), start of non-healthcare laundry business (hotel and workwear) and acquisition of Wash Service and remaining 50% of Ekolav for entering homecare & nursing homesmarket (2019). Growth in Italy Consolidation and diversification

New Markets: Sterilization activity in Morocco (2017) and Joint Venture in Asia (constitution of idsMED Servizi Plus in 2018).

2016 - 2019

2020

2021

5

Focus on historic business:

Renewed strategy concentrating resources on consolidating the leadership in public and private healthcare sector.

Diversification of services in Brazil:

starting of sterilization activities in Covid-19 pandemic the State of Sao Paulo.

DEVELOPMENT PATH

*Consolidated revenues

GLOBAL PRESENCE

*2020 Consolidated Revenues

8

STRENGHTS

ESSENTIAL SERVICES

• Services provided are to be considered essential, of first necessity and public utility and therefore defensive with respect to the epidemiological situation.
• Costs optimization Rationalization and control of healthcare costs A sustainable business that, even in the presence of a temporary emergency context, guarantees the continuity of essential services and therefore the well-being of the end users, employees and related induced activities.

MIX PRODUCT/SERVICE

• Multi-service approach by offering a mix of customized services
• High barriers on entry due to know-how and investments needed

POSITIONED FOR CREATING VALUE

• Commercial synergies
• Future focus on high value-added services

MEET CUSTOMER NEEDS

• Social sustainability
• Financial benefits for hospitals

4-year average contracts volume based OR monthly fixed fee 6-year average contracts

8/8

volume based OR monthly fixed fee

BUSINESS GROWTH STRATEGY

BUSINESS CONTINUITY

Management optimization

Strenghtening of presence on foreign markets Service diversification and cross-selling Targeted international development Guaranteeing business continuity, through the continuous search for optimization and efficiency in production operations and in the service supply chain, in order to improve margins and business profitability. • Work with organisations and trade associations to overcome the critical demand characterized by the phenomenon of awarding contracts at lower costs.

Identification of countries having specific characteristics of potential growth.

Diversification and cross-selling opportunities within the healthcare sector, while strengthening specific business areas. Optimization and development in the areas where we already are, offering an integrated mix of services

Consolidation of leadership in Italy on historic business

- Consolidate the privileged partner position of public/private healthcare sector, offering customers a technological, high quality and sustainable service.

Integrity, Ethics, CSR and attention to environment The 2021 -2023 Sustainability Plan considers a structured path updated taking into account the aspects linked to the pandemic crisis and climate change risks. The Plan contains targets/results/commitments according to the 17 UN SDGs.

GROUP VALUES

guaranteeing a high level of service to patients and citizens, as beneficiaries of assistance and health services.

Servizi Italia's approach is aimed at EFFICIENCY RESEARCH Services are based on a process of industrial production subjected to frequent analysis, in order to production efficiency goals ESSENTIAL SERVICE Investing in research of solutions to carry on services deemed as essential for customers and society. ORGANIZATIONAL SOLIDITY AND RELIABILITY Servizi Italia is a deeprooted company, with a wide production network PRODUCT/PROCESS INNOVATION Backed by a strong cooperation with research centers and international university centers. SAFETY AND TRANSPARENCY Guaranteed by the traceability of products and the quality system certification process INTEGRITY, ETHICS AND PROFESSIONALISM INTERNATIONALIZATION Being a multinational company for organization, culture, modes of presence and respect in global markets

Promotion of business ethics, prevention of corruption and protection of reputation. Enhance skills and talents, attracting the best resources

COVID-19 FOCUS: Impacts on sectors reconditioning of

WASH-HIRE IN HEALTHCARE

• Decrease of demand of bed linen, since hospitals reduced access to outpatient services.
• Increase of uniforms of Healthcare workers.
• Increase of equipment demand.
• (Flat/Garment) from the 2H.

• A gradual increase of bed linen and a partial rebalance of the mix Significant reduction of volumes started at the end of Feb-2020, due to reduction of scheduled surgical operations in ORs.
  • Operating costs could not be reduced timely, causing a margin decrease.
  • partial recovery of the
  • demand from Jun-2020 and 4Q.

INSTRUMENTS STERILIZATION

• Relevant reduction of volumes concerning in of Reusable Technical Textiles.
• Reduction due to lower surgical operations.
• Temporary effect, with potential recovery of part of the lower

HEALTH RESIDENCES TEXTILE STERILIZATION

• lower volumes. A gradual increase of continued also in 3Q Reduction in production volumes, due to deaths of elderly guests of residential facilities and prudential slowdown in access to the residential facilities. compared to the past. particular sterilization Temporary effect, with volumes of the period.
  • Temporary effect.
  • In 2H 2020 a gradual increase of demand with limited accesses

• Significantly impacted in terms of volumes reduction starting from end of Feb-2020.
• Temporary effect.
• Sector represents a minority share in Group revenues.

ITALY

Revenues of Euro 207.3 mln*

• Italian Wash-hire Healthcare market turnover: Euro 747 mln
• Highest International quality standards • SI's customers are main Public hospitals and Healthcare Institutions • Outsourcing rate is high in laundry market but still low in sterilization area
• Undisputed market leaderin all the segments • Well positioned in the areas of the Country
• Servizi Italia manages more than 60,000 beds and about 500,000 interventions/year • Full range of services and customizations • Constant search and identification of growing and diversification strategies in order to keep and to improve margins

Market overview**

*2020 consolidated revenues in Italy

13

BRAZIL

Revenues of Euro 25.8 mln*

• Wash-hire potential market is estimated in Reais 840 mln
  -
  -
• Over 700,000 Kg/day of potential linen only in Sao Paulo • ~1,000 healthcare facilities totaling over 92,500 beds • New potential outsourcing: only 45% of wash-hire is currently outsourced and no sterilization service provider is present • Primary player: first player in Sao Paulo, second in Brazil • Recognized in the market as high quality provider • Well positioned in both private and public areas • Leader in identifying new solutions for the clients • Deep market knowledge of local team and partners

Market overview

TURKEY

4 CSSDs

Revenues of Euro 9.3 mln*

• About 6,000,000 surgical intervention/year • Construction of new PPP hospitals, increasing the nr of beds up to about 250,000 over the next few years • ~1,400 healthcare facilities totaling over 195,000 beds • Low outsourcing rate in both laundry and sterilization businesses
  -
• Main player of both laundry (Ankateks/Ergulteks) and sterilization (SAS) markets
• Recognized by the market as high quality provider • Achieved multiple high-complexity PPP contracts, requiring International standards and with long term duration
• Good margins and volumes market

business

Market overview

INDIA

Equity consolidated

Revenues of Euro 4.0 mln*

Market overview

• The Indian market has recently started to outsource wash-hire activities • About 90,000 beds only in Delhi NCR, totaling about kg 200,000,000 of linen • Over 195,000 healthcare facilities throughout India • Low outsourcing rate • Recognized by the market as high quality provider
  -
  -
• Business developed greenfield and first volumes started in Oct-2015
• Main player in healthcare laundry business in India
• Technologically advanced laundry plant (Delhi area)
• Volumes steadily increasing

• F U L L Y U S E E X I S T I N G P L A N T C A P A C I T Y • I N C R E A S E L O C A L Q U A L I T Y S T A N D A R D S • I N C R E A S E O F A V E R A G E P R I C E S • C O N T R A C T S W I T H F L A G S H I P H O S P I T A L S • D E V E L O P M E N T I N N E W A R E A S / S E C T O R S • High capacity plant (45 tons/day, not fully reached) G o a l s

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ALBANIA

• Total value of contract awarded include all public and private hospitals of Albania
• More than 70,000 surgical intervention/year
• Servizi Wash-hire market is expected to have interesting growth prospects in terms of both revenues and profitability • Recognized by the market as high quality provider
• Unique playerin healthcare sterilization business
• Good margins and volumes market
• Laundry market still fragmented

• C O M P L E T E T H E D E V E L O P M E N T O F S T E R I L I Z A T I O N A C T I V I T I E S • B E C O M E T H E L A U N D R Y M A R K E T L E A D E R • I M P R O V E M E N T O F T H E S T A N D A R D S G o a l s

Market overview

MOROCCO

• Market with more than 315,000 surgical intervention/year • Around 3,000 healthcare facilities totaling over 21,000 beds • Primary Healthcare destination in Africa
• Sterilization industry still almost fully insourced • First and unique operator offering sterilization services and CSSD management in the Country • Constitution of Centre Marocain de Sterilisation
• Direct financial and quality benefits for the local Healthcare
• Cooperation with local universities for starting sterilization courses

• C O N S O L I D A T I O N O F T H E M A R K E T • N E W A R E A S A N D P U B L I C H O S P I T A L S • S U P P L Y O F S T E R I L I Z A T I O N - R E L A T E D S E R V I C E S • S E R V I C E D I V E R S I F I C A T I O N G o a l s

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CONSOLIDATED ECONOMICS RESULTS

Servizi Italia P&L Consolidated ('000 Euro)	FY 2019	FY 2020
Revenues	262.403	240.160
Var. %		-8,5%
EBITDA	68.388	57.938
%	26,1%	24,1%
EBIT	13.850	3.873
% Net income	5,3% 9.514	1,6% 2.954

CONSOLIDATED FINANCIAL RESULTS

Balance Sheet ('000 Euro)*	31.12.2018	31.12.2019	31.12.20
Operating Net Working Capital	7.957	6.644	-5.964
Other net current assets (liabilities)	-13.102	-18.852	-11.446
Net Working Capital	-5.145	-12.208	-17.410
Fixed assets - Medium/long term provis.	225.578	277.873	265.603
'- of which IFRS16	0	35.783	31.717
Invested Capital	220.433	265.665	248.193
Shareholders' Equity (B)	138.238	138.257	118.586
Net financial debt (A) '- of which IFRS16	82.195 0	127.408 36.258	129.607 32.943
Invested Capital	220.433	265.665	248.193
Gearing (A/A+B) Gearing (A/A+B) - Excl. IFRS16	0,37x 0,37x	0,48x 0,40x	0,52x 0,45x
D/E (A/B)	0,59x	0,92x	1,09x

Operational investments and acquisitions of Servizi Italia are conducted with specific focus on keeping a balanced and healthy debt structure.

Share Capital ('000)	31,809
Share Price (Euro)	2.29

DISCLAIMER

This presentation has been prepared by Servizi Italia S.p.A. ("Servizi Italia" or the "Company") and must be read in conjunction with its oral presentation. The information contained in this presentation does not purport to be comprehensive. Neither Servizi Italia S.p.A. nor any of its officers, employees, advisers or agents accepts any responsibility for/or makes any representation or warranty, express or implied, as to the truthfulness, accuracy or completeness of the information contained in this presentation or any other information relating to Servizi Italia S.p.A., its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, transmitted or otherwise made available.

Tel.+39 0524 598511 - Fax+39 0524 598232 Share capital: Euro 31,809,451 fully paid-up The information contained in this presentation must be treated as highly confidential and cannot be distributed without the expressed written consent of Servizi Italia S.p.A. This document is confidential and is being provided to you solely for your information and may not be reproduced, further distributed to any other person or published, in whole or in part, for any purpose. Neither this document nor any part or copy of it may be taken or transmitted into the United States (US) or distributed, directly or indirectly, in the US or to any "US person", as that term is defined in the US Securities Act of 1933, as amended (the "Securities Act"). Neither this document nor any part or copy of it may be taken or transmitted into Australia, Canada or Japan or to any resident thereof, or distributed directly or indirectly in Australia, Canada or Japan or to any resident thereof. Any failure to comply with this restriction may constitute a violation of US, Australian, Canadian or Japanese securities laws. The distribution of this document in other jurisdictions may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This document does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or any other material discussed at the presentation, or on its completeness, accuracy or fairness. The information in this document and any other material discussed at the presentation are provided as at the date of this presentation and is subject to completion and change without notice. By attending the presentation you agree to be bound by the foregoing terms and any provided personal details will be treated according to terms and conditions indicated in the Potential Investors Privacy Policy available on Company's website, Privacy section.

Via S. Pietro, 59/b 43019 Castellina di Soragna (PR) Italy Founded: 1986 Tax ID Number and Parma Business Registry Code: 08531760158 Market: MTA – STAR segment

Sector: Industrial ISIN code for ordinary shares: IT 0003814537 Reuters: SRI.MI --- Bloomberg: SRI IM Specialist: Intermonte SIM Investor Relations Department: Giovanni Manti (IRM), Pietro Giliotti Email: investor@si-servizitalia.com web site: www.servizitaliagroup.com