Basic Net SpA — Earnings Release 2023

Mar 8, 2024

2023 RESULTS PRESENTATION CONFERENCE CALL

TURIN, 8 MARCH 2024

PROPOSAL

FY2024 RESULTS DIVIDEND DISTRIBUTION BUY-BACK & STOCK GRANT PROPOSAL

CHANGES IN BY-LAWS PROPOSAL

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FY2023 RESULTS

TOTAL AGGREGATED SALES (TAS) € 1.141,1 mln

-10,4% vs 2022 (€ 1.273,1 mln)

€ 396,8 mln GROUP CONSOLIDATED REVENUES - € 92,6 mln + € 1,3 mln vs ²⁰²² (- € 93,9 mln)

+2,7% vs 2022 (€ 386,1 mln)

NET RESULT € 24,4 mln

-18,8% vs 2022 (€ 30,0 mln)

NFP WITH BANKS

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TOTAL AGGREGATED SALES 01 FY2023

CONSOLIDATED REVENUES

€ 396,8 mln € 386,1 mln

in € .000	31.12.23	in %	31.12.22	in %	Var	Var%
Sub-total net money holdings	(39.059)	28,1%	(26.439)	18,7%	(12.621)	47,7%
Short-term portion of m/l term loans	(14.330)		(15.423)		1.093	-7,1%
Short-term net financial position	(53.390)	38,4%	(41.862)	29,5%	(11.528)	27,5%
Long-term portion of m/l term loans	(39.136)		(51.756)		(12.620)
Financial leasing payables	(77)		(259)		181	-70,0%
Sub-total loans and leasing payables	(39.213)	28,2%	(52.014)	36,7%	12.800	-24,6%
Net financial position with banks	(92.603)	66,6%	(93.876)	66,3%	1.272	-1,4%
Right of use debts	(36.778)		(30.734)		(6.044)	19,7%
Earn-out debt K-Way France	(9.738)		(17.081)		7.343	-43,0%
Net financial position	(139.119)	100,0%	(141.691)	100,0%	2.571	-1,8%
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NET FINANCIAL POSITION 01 FY2023

RESULTS

DIVIDEND DISTRIBUTION PROPOSAL

02 PROPOSAL

DIVIDEND DISTRIBUTION DIVIDEND PROPOSAL

in €	31.12.23	31.12.22	31.12.21	31.12.20	31.12.19
Consolidated Net result	24.376.285	30.037.369	20.329.502	8.580.521	21.052.814
Dividend per share	0,15	0,18	0,12	0,06	0,12
Total Dividend	7.440.270	9.014.850	6.139.632	3.143.616	6.375.642
Pay-out ratio	30,5%	30,0%	30,2%	36,6%	30,3%
Dividend yield	3,3%	3,4%	2,1%	1,4%	2,3%
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BUY-BACK & STOCK-GRANT PROPOSAL

03 BUY-BACK PROPOSAL BUY-BACK & STOCK GRANT PROPOSAL

Year of Shareholders' resolution	2023	2022	2021	2020	2019
Buy-back plan	30.000.000	30.000.000	10.000.000	10.000.000	4.000.000
Actual purchases	1.926.739	4.627.605	8.128.440	3.449.900	3.999.839
Purchased shares (no.) Average purchase price Purchased shares (in %)	390.800 4,93 0,72%	821.002 5,64 1,52%	1.580.000 5,14 2,59%	936.745 2,84 1,54%	820.633 4,87 1,35%
Total treasury shares	8,14%	7,42%	16,69%	14,10%	12,89%
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BUY-BACK & STOCK GRANT PROPOSAL

03 STOCK GRANT PROPOSAL

ELIGIBILITY

Employees or Directors of BasicNet S.p.A. and its subsidiaries

LENGTH

2024-2027, with 4 vesting periods of two to five years each

SHARES

Up to n° 2.000.000 shares, consisting of own shares

PURPOSE

Rewarding and retention of strategic resources

CHANGES IN BY-LAWS PROPOSAL

04 CHANGES IN BY-LAWS CHANGES IN BY-LAWS PROPOSAL

Section 9 – Shareholders' Meetings Shareholders' Meetings shall be called to convene, in accordance with current legislation, at the registered office or such other venue as may be deemed to be appropriate in Italy. The Annual General Meeting called to approve the Annual Report & Accounts shall be called within one hundred and twenty days from the close of the company's fiscal year, or whenever so required by law, within one hundred and eighty days from the close of the company's fiscal year. Without prejudice to the formalities required by law, Meetings shall be called by the Chairman of the Board of Directors or, failing him, by the Director so delegated or by the Board itself, by publishing, in the manner and within the timescale prescribed by law, a notice specifying the date, time and venue, accompanied by a list of the business to be transacted, of the Meeting on the first call. Extraordinary and General Shareholders' Meeting are held usually following two or more calls. As may be deemed to be appropriate, the Board of Directors may establish, giving relevant indication thereof in the Notice of Meeting, that both the General Shareholders' Meeting and the Extraordinary Shareholders' Meeting shall be held following one, and one only, call of shareholders' meeting. In such instance, the respective quorum and majorities required by law are As may be deemed to be appropriate, the Board of Directors may establish that attendance to both the General Shareholders' Meeting vote take place exclusively through the appointed representative,

applicable. giving relevant indication thereof in the Notice of Meeting.

Section 16 – Powers of the Board of Directors

• 16 and the Extraordinary Shareholders' Meeting and exercise of right to The Board of Directors is vested with the widest of powers of ordinary and extraordinary administration, without exception whatever, and, in particular, may perform all acts deemed to be appropriate to achieve the corporate objectives – including therein the recording, subrogation, deferral and cancellation of mortgages and liens, whether in whole or in part, as well as the recording and cancellation of transcriptions and annotations of any kind whatever, regardless of the amounts payable to which such transcriptions and annotations related – with the sole exception of those reserved by law to the Shareholders' Meeting. In accordance with Section 2365.2 of the Italian Civil Code, also assigned to the authority of the Board of Directors are the following: • resolutions, pursuant to Sections 2505, 2505-bis, 2506 – ter last paragraph

of the Italian Civil Code, concerning the merger by incorporation of one or more companies in which are held all the shares or share units, or in which ninety per cent at least of the shares or share units are held;

• opening and closing of secondary offices;

• identifying which Directors are empowered to represent the company in law;

• amending the By-laws of a company in order to ensure compliance with legal and regulatory requirements;

• reducing share capital should rights of withdrawal be exercised by a shareholder; and

• relocating a company formed with registered office within the national territory. […]

GLOSSARY AND ALTERNATIVE PERFORMANCE MEASURES

GLOSSARY AND ALTERNATIVE PERFORMANCE MEASURES
Commercial licensees or licensees	independent business owners, granted licenses to distribute Group brand products in their respective regions
Productive licensees or sourcing centers	third-party entities whose function is to manufacture goods branded with the Group brands for the exclusive sale to Commercial licensees or to Group companies
Total Aggregated Sales (TAS)	the sum of Aggregated Brand Sales (ASL) and Aggregated Sales of Sourcing Centers (ASSC)
Aggregated Brand Sales (ASL)	sales by commercial licensees – that generate royalties for BasicNet Group – and sales by the Group companies
Aggregated Sales of Sourcing Centers (ASSC)	sales by productive licensees – that generate sourcing commissions for BasicNet Group
Consolidated revenues	the sum of royalties, sourcing commissions, sales of products made by BasicNet Group companies and real estate revenues
EBITDA	"operating result" before "amortisation and depreciation"
Net Financial Position	total of current and medium/long-term financial payables, less cash and cash equivalents and other current financial assets
Net Financial Position with banks	Net Financial Position, excluding IFRS 16 and financial liabilities for the acquisition of businesses
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THANK YOU