Green Oleo

Earnings Release • May 19, 2025

GREEN OLEO ANNOUNCES MANAGEMENT KPIs AS OF MARCH 31, 20251

Production Value €20.8 million, +15% (€18.1 million in Q1 2024) Raw Material Cost Incidence² 70.4% (68.4% in Q1 2024)

15th May 2025, Cremona

The Board of Directors of GREEN OLEO (GRN:IM), a benefit corporation listed on Euronext Growth Milan and one of Europe's leading producers of fine oleochemicals from renewable and biodegradable sources, has today approved certain management KPIs as of March 31, 2025. These figures have not been audited.

Production Value stands at €20.8 million, marking a 15% increase compared to €18.1 million in Q1 2024, driven by slightly higher sales revenue and a positive change in inventory due to a general rise in prices. The incidence of raw material costs is 70.4%; the increase compared to Q1 2024 (68.4%) is attributable to the combined effect of higher raw material costs and weak demand, which has made it difficult to fully pass on the increased supply costs to customers.

According to Cefic data³ , in the January–February 2025 period, manufacturing output across the EU27 remained at the same level as in the corresponding period of 2024, with most downstream users of the chemical sector recording a decline in production. In this context, the recovery of the EU27 chemical industry that began in 2023 came to a halt in the third and fourth quarters of 2024, and this downward trend continued into the first quarter of 2025, with production down by 0.3%.

The competitiveness of the EU27 chemical industry remains well below pre-crisis levels (2014–2019 average), due to a combination of weak demand and uncompetitive energy prices. This particularly affects basic and petrochemical products, where China holds a competitive advantage linked to large-scale, low-cost production.

Capacity utilization in the EU27 chemical sector remains persistently low and well below production levels, directly impacting profitability. In Q1 2025, it dropped to 74.0%, compared to 74.4% in Q4 2024, remaining well below the EU long-term average (81.4%) and the U.S. average since Q3 2022.

In this complex and difficult-to-decipher environment, management is studying actions aimed at improving efficiency. In 2025, a year that promises to be particularly challenging, GREEN OLEO will pursue its differentiation strategy through an innovative and sustainable product offering, with the goal of maintaining and protecting economies of scale.

GREEN OLEO (GRN:IM – ISIN IT0005549768) is one of Europe's leading producers of fine oleochemicals from renewable and biodegradable sources, headquartered in Cremona. Founded in 2012 following the acquisition of the Company's entire capital by the Buzzella Family, through the transfer of a business unit historically active in oleochemical production since 1923 and previously owned by Croda Cremona S.r.l. The Company uses locally sourced raw materials, such as by-products from the food processing industry (acid oils primarily from olives and animal fat), which undergo internal chemical processes such as splitting, distillation, separation, fractionation, and hydrogenation to produce multiple oleochemical products such as distilled fatty acids with different matrices based on the starting fat, stearic acids (stearins), oleic acid, glycerines, fatty acid derivatives (soaps), and esters. The Company operates in its Cremona plant, covering an area of 64,000 sqm (of which approximately 20,000 sqm covered), employing 75 staff members, with an annual production capacity of 65,000 tons, including 50,000 tons of fatty acids and glycerines and 15,000 tons of esters. The Company's clients are industrial entities operating in multiple sectors such as detergents, elastomers, candles, paints, rubber and tires, personal care, and cosmetics, which through further specific processing for the target sector create final consumer products.

¹ Management data not subject to audit review.

² Calculated as the ratio between the costs of raw materials, subsidiaries, and goods, net of inventory variations, and the Production Value net of non-recurring components.

³ Cefic Chemical Trends Report -Q1 2025

Press release available at and www.greenoleo.com

INVESTOR RELATIONS GREEN OLEO | Raffaella Bianchessi | investor.relations@greenoleo.com | T +39 0372 487256 IRTOP Consulting | Maria Antonietta Pireddu | m.pireddu@irtop.com | T +39 02 45473884

EURONEXT GROWTH ADVISOR INTEGRAE SIM | Piazza Castello 24, Milan | T +39 02 80506160