Biesse — Investor Presentation 2023

Mar 17, 2023

Biesse for Euronext STAR Conference

Borsa Italiana, Milan 21st March 2023

Agenda: Euronext STAR Conference

Who we are

This is Biesse

We are an international company that manufactures integrated lines and machines to process wood, glass, stone, plastic and composite materials and what will come next.

Founded in Italy in 1969 and listed in the Euronext STAR segment of the Italian Stock Exchange, we support the business evolution of our customers in the furniture, housing & construction, automotive and aerospace sectors.

Today, 80% of our consolidated turnover is achieved abroad by an evergrowing worldwide network with 4 manufacturing sites and 30+ showrooms reaching over 160 countries.

Thanks to our rooted competence embodied by 4,200 employees, we empower the imagination of industry-leading companies and prestigious names in Italian and international design to make the potential of any material shine.

Vision

To simplify clients' manufacturing process, empowering their imagination to enhance people's everyday life.

Mission

To provide clients with the most suitable solutions, committing our rooted competence to enable them to unleash the potential within any material.

Biesse heritage

Biesse was founded in 1969 as a company dedicated to the design, manufacture and distribution of wood processing machinery. In a few years, the company became an integral part and engine of the Italian furniture industry and expanded throughout the country.

With the opening of the first foreign subsidiary, a strong internationalization process was launched that helped to establish the brand around the world.

Our history is a journey made of ambitious choices, collaborations and investment in research that have made it possible to manufacture state-of-the-art machinery.

Our history in milestones

1969	Biesse is founded in Pesaro, Italy, to design, manufacture and distribute wood processing machinery.
1983	Biesse launched on the market Rover, a numerical control wood processing centre.
1987	A business sector dedicated to design, manufacture, and distribute glass and stone processing machines is born.
1989	The internationalization process starts with the opening of the first subsidiary abroad.

1991 The HSD business unit is established to design, manufacture and distribute electromechanical components.

2001 Biesse S.p.A. is listed on the STAR segment of the Italian Stock Exchange.

2008 Opening of the first foreign manufacturing site in Bangalore, India.

2017 Biesse develops and launches its own IIOT platform, making its technology 4.0 ready.

Biesse publishes its first Sustainability Report. 2018

2021

2020 Start of the corporate reorganization process which sees the transition from a business unit organization to a process-based organization.

Acquisition of Forvet S.p.A. Costruzione Macchine Speciali, manufacturer of special automated machines for machining glass.

Creation of the Corporate Social Responsibility department confirming the company's commitment to social responsibility issues.

2022 Launch of the company's new visual identity (one brand approach).

Biesse values

International	The sense of belonging without borders that
natives	enhances the peculiarities of individuals.
Insightful	A constant desire for discovery, which turns into
curiosity	intuition.
Genuine	The original "know-how" which comes out from a
"maestria"/mastery	genuine tradition.
Widespread transparency	The honesty of the people, the integrity of the company.
Heartfelt commitment	The adherence to a common project, lived and strengthened on a daily basis.
Respectful	The care for the environment, society,
sight	people.

The new brand architecture

Master brand

Material brands Independent brands

Multi-material mastery

The four material brands and their respective colors highlight the specifics of the business sectors in which we operate.

Biesse Wood, Biesse Glass, Biesse Stone and Biesse Materia guide the customer through the company's offering, expressing the distinctive characteristics of each business sector through the processed material.

Distinctive colors evoke the specific nature of each of the sectors and reinforce the concept of multi-materiality - an element that distinguishes Biesse from its competitors.

The shades selected are a direct reference to the materials they are inspired by: light brown for wood, light blue for glass, Verona red for stone and purple for plastics, chosen as the color that identifies a material which is not found in nature.

We design and manufacture wood processing integrated lines and machines for the furniture, window and door and building component industries.

We design and manufacture glass processing integrated lines and machines for the furniture, construction and automotive industries.

We design and manufacture stone processing integrated lines and machines for the stone, furniture and building industries.

We design and manufacture solutions for the processing of technological, packaging, construction and visual communication materials.

Biesse & HSD

We operate through 2 Cash Generating Unit:

Biesse operates in material-processing machinery manufacturing. We hold multi-material competencies and harmonize them for an all-round perspective.

Biesse designs, manufactures and distributes integrated lines and machines to process wood, glass, stone, plastic and composite materials and what will come next, by providing adaptive solutions and always-on assistance.

HSD operates in the mechatronics segment for industrial automations providing core components for materialprocessing machinery.

HSD Mechatronics designs, produces and sells components that combine mechanics and electronics: electrospindles, 2-axis milling heads and technologically advanced components for machining metal, alloys, composite materials and wood.

Biesse: wide-ranging solutions

Engineering solutions	We build engineering solutions, from design to manufacturing, implementation, installation and maintenance.
Integrated lines	We build fully automated and integrated lines that combine several technologies for material processing and logistics.
Machines	We design, manufacture and distribute a full range of machinery and technologies for processing wood, glass, stone and composite materials.
After-sales & Parts	We provide professional after-sales services and parts to support the efficiency and productivity of installed machinery.
Tooling	We design, manufacture and distribute a complete range of tools for working with glass, natural and synthetic stone and ceramics.

HSD: solutions for every application

HSD: solutions for every material

METAL

Specific solutions for machining metals and alloys, including 1-and 2-axis milling heads and single-sided or double-sided rotary tables, as well as a wide selection of electrospindles offering a varied range of power levels and rotation speeds.

M

WOOD

With over 30 years' experience, HSD is an established leader in its sector, producing electrospindles with automatic or manual tool change, C axes, bi-rotary heads, boring heads, multifunction units and aggregates dedicated to the machining of wood.

COMPOSITE

High-quality products based on a careful survey of the market and an in-depth understanding of the needs of companies that work with composite materials.

GLASS

Technologies able to satisfy all the needs of the market and all the glass machining processes.

STONE

Technologically advanced components for machining natural and synthetic stone.

Clients

Some of our prestigious customers:

Cosentino Group Fiam Gruppo Lube Herman Miller Ikea Jeldwen Lago Marmi Fontanelli Nobia Oppein Rimadesio Saint-Gobain Saltoki Tivitec Veneta Cucine Wren Yatchline 1618

Markets

% on Total 2022

Revenues by geographical area 2019 – 2022 (€/mln – Incidence on Total)

• Consistent revenues increase in North America and Western Europe continuing the growth path after the Covid-19 recovery
• Increase in after-sales and parts incidence on Revenues in 2022
• Light impact of Russia/Ukraine conflict on Revenues in the Eastern Europe Area
• Asia & Oceania partially impacted by lockdown in China during 2022

incidence of after-sale and parts on revenues in 2022

In €m	2019			2020	2021		2022		Change vs Previous Year (%)
	Value	%	Value	%	Value	%	Value	%	20 vs 19	21 vs 20	22 vs 21
Western Europe	333,0	47,2%	288,8	49,9%	381,9	51,5%	431,1	52,4%	-13%	32%	13%
Asia & Oceania	105,9	15,0%	69,3	12,0%	95,9	12,9%	100,3	12,2%	-35%	38%	5%
Eastern Europe	89,2	12,6%	94,4	16,3%	119,9	16,1%	113,1	13,8%	6%	27%	-6%
North America	150,6	21,3%	109,1	18,8%	122,4	16,5%	157,3	19,1%	-28%	12%	29%
Rest of the World	27,1	3,8%	17,3	3,0%	22,1	3,0%	20,6	2,5%	-36%	28%	-7%
Total	705,9	100%	578,8	100%	742,2	100%	822,4	100%	-18%	28%	11%

International natives

160+ countries

30+ showrooms

77 %

revenues outside of Italy

100,000+

customers since today (Biesse & HSD)

Italy U.S.A Canada Brazil Portugal Spain France UK Germany Switzerland Turkey UAE Russia India Malaysia China Japan Australia New Zealand

4 Manufacturing Campus

More than 6,000

solutions produced in 2022

21 %

Bangalore site

employees located in APAC

4,200

total employees including temporary workers

72 %

employees located in Europe

7 %

employees located in North & South America Pesaro site

Gradara Plant

North Italy site

Planning for a more sustainable future

The success of Biesse is also the result of the ability to recognize and evaluate its environmental and social impacts, to establish new collaborations, to involve employees and to build relationships of trust, honesty and integrity with customers and suppliers.

Sustainability, therefore, stands at the base of every choice, in order to ensure the company's longterm growth and success.

Economical sustainability in a nutshell

• 95% of purchases from local suppliers, as far as manufacturing plants in Italy and India are concerned
• 5 manufacturing plants for Biesse S.p.A., 2 manufacturing sites for Biesse Manufacturing Co Pvt Ltd and 1 manufacturing site for HSD S.p.A. awarded ISO 9001:2015 certification

Environmental sustainability in a nutshell

• 100% of electricity purchased from renewable sources with guarantees of origin for the Group's Italian companies (excluding Forvet)
• 16,500 m2 of photovoltaic panels installed

• Environmental management system of HSD S.p.A. and Biesse S.p.A. certified according to UNI ISO 14001:2015 standards

• Use of cobalt-free powders in Diamut products

• 787 tonnes of CO2 avoided by using photovoltaic panels
• 93% of waste products are non-hazardous.
• In 2022, Biesse purchased Guarantee of Origin certificates with the aim of reducing the corresponding CO2 emissions (5,093 tons of CO2)¹

Planning for a more sustainable future

Social sustainability in a nutshell

• 96% of employees have permanent contracts
• Over 10,000 hours of health and safety training for employees
• Workplace safety management system of Biesse S.p.A. certified according to UNI ISO 45001:2018 standard

• Supplementary contract for smart working (Italy)

• More than 1,500 persons have worked in Biesse Group for more than 10 years

• Support for social, cultural, artistic and sports initiatives in the community
• Biesse Manufacturing India has carried out several educational projects supporting children and teenagers

Strong recovery after Covid-19

Revenues by CGU and eliminations – 2020 Restated – 2022 (€/mln)

Company snapshot

Solutions	Customers	Performance highlights	Market positioning
— Engineering solutions: turnkey projects for complete factories — Automated production lines — Stand alone machines — After-sales support: services (digital & physical) & spare parts — Tooling	— Furniture — Housing & Construction — Automotive — Aerospace	Revenues* ~ 748,8 €/mln (+10,7% vs previous year)	— Among market leaders in woodworking & glassworking — Fast growing player in composite & adv. materials
Standard and Custom mechatronics products for — High Speed Cutting (electrospindles, 2-axis heads) — High Power Cutting (electrospindles, 2-axis heads) — Motions (e. g. smart motors) — Electronics	Machine tools builder for several material-working: — Metal & aluminum — Wood — Glass — Composite & advanced materials — Stone	Revenues* ~ 105,2 €/mln (+10% vs previous year)	— Among market leaders in high speed cutting (especially wood) — Fast growing player in high power cutting (metal)

Our response to environment stress

1	Inflation & prices	— Record in 2022 for revenues — Solid backlog and solid pipeline, despite lower incoming order expected for 2023 (machines) — Prices increased to offset energy costs and other production costs increases — Energy-saving action plan activated according to the sustainability journey
2	Italian government incentives	— In 2022 and 2021 the Italian Government provided several tax incentives for the purchase of capital goods (including Biesse's solutions) — During the past couple of years we experienced an unprecedented growth in Italian Market — In the next years we expect a moderate growth compared to the average of previous years (without outlier years)
3	Ukraine/Russia conflict	— Low commercial exposure to both markets (~3% of 2021 revenues) — No direct distribution in Ukraine, no production in Russia (only sales and service)
4	Material cost	— Low exposure to raw materials, mainly source pre-assembled parts and components — Highly resilient supplier network (locally and globally) — Set-up of new sourcing & procurement strategy to secure lead time and sourcing costs
5	Supply chain	— Global project to strengthen relationships with main logistic providers — Set-up of new logistic strategy with several local distribution hubs

The One-Company project…

2020 - 2021

Focus on organization

In 2020 we launched an organization redesign project: the One Company project.

The project's main objectives were:

• Make Biesse more flexible and reactive, capable of responding promptly to external stress conditions
• Simplify internal processes to speed up business decisions
• Place Customer needs more and more at the center of business decisions.

New strategic plan (2021-2023) to redefine Biesse's positioning

From 4 business units to One-Company to become more flexible and reactive

New responsibilities and standards ensuring compliance and effective risk management also in response to the external environment

…a new journey

Our performance

A solid growth path

Financial highlights trend: 2019-2022

• In 2022 we achieved our best performance in revenues (+244 €/mln vs 2020).
• In 2021 and 2022 we outperformed order intake vs previous years. The slight decrease in 2022 may impact 2023 performance.
• In 2022 we achieved our best EBITDA performance (improving profitability quality).
• From 2019 to 2022 we recorded a strong performance in cash generation, generating more than 135 million euros after dividends payment.

Financial highlights: P&L – Balance Sheet

In €m						Change vs Previous Year (%)
	2019	2020	2021	2022	20 vs 19	21 vs 20	22 vs 21
Revenue from sales and services	705,9	578,8	742,2	822,4	-18,0%	+28,2%	+10,8%
Normalised Added Value	297,8	247,2	312,1	342,0	-17,0%	+26,3%	+9,6%
% on Revenues	42,2%	42,7%	42,0%	41,6%
EBITDA adjusted (1)	76,7	56,0	79,7	90,6	-27,0%	+42,3%	+13,7%
% on Revenues	10,9%	9,7%	10,7%	11,0%
EBIT adjusted (1)	39,6	7,0	34,1	47,6	-82,3%	+386,5%	+39,7%
% on Revenues	5,6%	1,2%	4,6%	5,8%
EBIT	29,6	6,2	45,7	50,8	-79,0%	n.m.	+11,0%
Profit/Loss for the period	13,0	2,5	34,2	30,3	-81,1%	n.m.	-11,4%
% on Revenues	1,8%	0,4%	4,6%	3,7%

Net Invested capital (1)	237,3	165,3	124,6	144,1
Equity	218,7	214,8	249,2	260,8
Net Financial Position (1)	(18,6)	49,5	124,6	116,6

(1) Adjustment & Balance Sheet KPI calculation criteria presented in the Financial Report on www.biessegroup.com | Investor Relations - Financial

Profit & Loss

In €m						Change vs Previous Year (%)
	2019	2020	2021	2022	20 vs 19	21 vs 20	22 vs 21
Revenues from sales & services	705,9	578,8	742,2	822,4	-18,0%	+28,2%	+10,8%
Change in inventories & other revenues	7,1	(5,1)	28,4	39,2	-172,8%	-652,3%	+38,0%
Value of Production	712,9	573,6	770,6	861,6	-19,5%	+34,3%	+11,8%
% on Revenues	101,0%	99,1%	103,8%	104,8%
Raw materials, supplies and goods	(286,4)	(234,3)	(333,6)	(363,4)	-18,2%	+42,4%	+8,9%
Personnel expenses	(221,1)	(191,2)	(232,4)	(251,4)	-13,5%	+21,6%	+8,2%
Other operating costs	(128,7)	(92,1)	(125,0)	(156,3)	-28,4%	+35,6%	+25,1%
EBITDA adjusted (1)	76,7	56,0	79,7	90,6	-27,0%	+42,3%	+13,7%
% on Revenues	10,9%	9,7%	10,7%	11,0%
D&A	(37,2)	(49,0)	(45,6)	(43,0)	+31,8%	-6,9%	-5,8%
Provisions	(3,3)	(15,6)	(12,4)	(10,5)	+368,9%	-20,7%	-15,2%
EBIT adjusted (1)	39,6	7,0	34,1	47,6	-82,3%	+386,5%	+39,7%
% on Revenues	5,6%	1,2%	4,6%	5,8%
Non recurring-items	(9,9)	(0,8)	11,7	3,2	-92,0%	n.m.	-72,8%
EBIT	29,6	6,2	45,7	50,8	-79,0%	n.m.	+11,0%
% on Revenues	4,2%	1,1%	6,2%	6,2%
Financial income & expenses, FX	(6,1)	(3,0)	(5,2)	(9,1)	-50,6%	n.m.	+74,1%
Income taxes	(10,5)	(0,8)	(6,3)	(11,3)	-92,7%	n.m.	+80,3%
Profit/Loss for the period	13,0	2,4	34,2	30,3	-81,2%	n.m.	-11,4%
% on Revenues	1,8%	0,4%	4,6%	3,7%

Strong growth in
revenues & value	22 vs 21	21 vs 20	20 vs 19
of production
Increase in efficiency
partially related to
One-Company
project
Increase vs 2019 due
to investment
carryover and revised
D&A periods
Increased tax rate &
FX losses reduced
Profit of the period vs
previous year

Balance Sheet

In €m	2019	2020	2021	2022
Intangible assets	83,2	73,4	98,0	88,2
Property, Plant, Equipment	139,7	125,1	117,2	117,7
Financial Assets	2,6	3,3	4,4	4,6
Non current assets	225,6	201,8	219,6	210,5
% on Revenues	32,0%	34,9%	29,6%	25,6%
Inventories	155,5	129,8	179,4	215,6
Trade receivables	117,0	102,9	126,0	112,5
Trade payables	(132,7)	(132,8)	(186,7)	(182,0)
Contract Liabilities	(67,5)	(72,2)	(127,1)	(138,2)
Non operating working Capital	72,3	27,7	(8,4)	7,9
% on Revenues	10,2%	4,8%	-1,1%	1,0%
Other Assets & Liabilities	(60,6)	(64,2)	(86,6)	(74,2)
Net Invested Capital	237,3	165,3	124,6	144,1	assets & labilities.
% on Revenues	33,6%	28,6%	16,8%	17,5%
Equity	(218,7)	(214,8)	(249,2)	(260,8)
Net Financial Position	(18,6)	49,5	124,6	116,6
Total Source & funding	(237,3)	(165,3)	(124,6)	(144,2)	capital reserves.
					financing M&A.

Change in Capitalization and D&A policy to better present residual useful life of Intangible assets, especially IT & R&D.

Increase in inventories according to new sourcing strategy (more components to avoid shortage) and distribution policy (more finished products in local hubs to ensure delivery time).

Variation mainly due direct & indirect tax assets & labilities.

Increase in retaining earnings and capital reserves.

Leverage not used – opportunity for

Cash Flow & Net Financial Position

In €m	2019	2020	2021	2022
EBITDA	75,6	56,0	79,7	93,3
Change Net Working Capital	(24,3)	43,0	36,1	(16,2)
Change in other Assests & Liabilities	(9,0)	(7,7)	(12,5)	(38,6)
Operating Cash Flow	42,3	91,3	103,3	38,5
% on EBITDA	55,9%	163,1%	129,6%	41,3%
Investing activities	(32,1)	(15,0)	(22,8)	(14,4)
% on Revenues	-4,5%	-2,6%	-3,1%	-1,8%
Financial activities & dividend payment	(12,4)	(0,0)	0,0	(21,5)
Net Cash Flow	(2,3)	76,3	80,5	2,7
% on EBITDA	-3,0%	136,3%	101,0%	2,9%
Change in financing activities & liabilities	(15,1)	(5,1)	(5,4)	(10,6)
Chenge in financial lease & IFRS	(26,6)	0,0	0,0	0,0
Change in NFP	(44,0)	71,2	75,1	(7,9)
% on EBITDA	-58,1%	127,1%	94,2%	-8,5%

People distribution (without temporary workers)

	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
ITALY	1.646	1.547	1.605	1.780	2.009	2.176	2.483	2.418	2.383	2.345	2.257
% of total people	59%	57%	56%	56%	56%	56%	59%	62%	63%	61%	62%
OUTSIDE ITALY	1.136	1.148	1.276	1.396	1.609	1.670	1.744	1.509	1.380	1.483	1.410
% of total people	41%	43%	44%	44%	44%	44%	41%	38%	37%	39%	38%
TOTAL	2.782	2.695	2.881	3.176	3.618	3.846	4.227	3.927	3.763	3.828	3.667
	2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
Production	1.264	1.175	1.201	1.335	1.482	1.494	1.621	1.386	1.324	1.368	1.231
% of total people	45%	44%	42%	42%	41%	39%	38%	35%	35%	36%	34%
Other Departments	1.518	1.520	1.680	1.841	2.136	2.352	2.606	2.541	2.439	2.460	2.436

One Company Project re-organization

Stock performance & consensus

BSS.MI .FTMIB .FTSTAR

2021 2022 2023

22 February 2023

Shareholder distribution

Biesse Board of Directors

• Giancarlo Selci (Founder President)
• Roberto Selci (C.E.O.)
• Massimo Potenza (co C.E.O.)
• Alessandra Baronciani
• Rossella Schiavini
• Federica Ricceri
• Ferruccio Borsani

Source: Reuters – February 2023

Shareholders distribution

Outlook

Trends impacting our market

KEYWORDS

Re-designing our business portfolio adding new capabilities and product offering in higher-growth segments.

Renovate our approach to products and services increasing the focus on integrated solutions (as opposed to stand-alone products), with integrated hardware, software, and service offering.

Machinery companies will focus on their highest margin client segments with tailored offerings and solutions frequently codesigned with clients.

As a consequence, machinery companies are modernizing their go-to-market strategies, making them more systematic and guided by data.

Machinery companies are evolving their organizational models, de-powering the role of the center.

Many leading companies are decentralizing to BU or Regions while the HQ plays more of a lean, supporting role.

Hyperautomation

Electrical and control automation engineers to harness all the data and better understand machine behavior and performance to build the next generation of faster, more productive machines.

Smart machines

Industrial component suppliers are embracing IIoT (Industrial Internet of Things), and machinery manufacturers are learning how to take advantage of the massive amounts of data their machines generate.

Sustainability

Sustainability is becoming a commercial differentiator as products and services evolve. Machinery companies have the opportunity to not only improve the sustainability of their operating model, but also to play a strategic role in supporting customers to achieve their sustainability targets.

Industrial Consumerism: consumer-driven customization

Consumers' preferences are constantly changing, but the current change is focused on personalized or customized products. Companies need to design and build new machines capable of supporting a wider variety of product mixes and more rapid and frequent changeovers.

The machine tools market

Machine tools market production 1980 – 2021 (€/bln)

Source: KPMG elaboration on Machine Tool Builders' Association (VDW), CECIMO & Oxford Economics – Market Forecast

Biesse for Euronext STAR Conference 43

Expected growth

Woodworking – other materials working market

Woodworking machinery market 2019 – 2026e (€/bln, year on year variation) – excluding services & after-sales Flat glass, plastic, rubber & composite, stone & ceramics working machinery market 2021e – 2025e (€/bln) – excluding services & after-sales

Source: KPMG elaboration, CSIL, regional market expectation, competitor information | e = expected

Source: EUROMAP Press Conference, Assomarmomacchine, Biesse elaboration on GIMAV considering VDW data. Forecast based on CECIMO estimation for 2025 (Machine Tools Market overall expectations) information | e = expected

Composite index & Biesse performance 2009-2019e

Source: Biesse Elaboration - composite Index:

Macro-Economic Index: Real GDP, Real Gross Fixed Investments, Real Private Consumption. Market Index: Wood Product Consumption, Glass Product Consumption, Rubber & Plastic product consumption, Store product consumption, Indoor Living, Indoor Forniture, Outdoor Forniture, Housing & Construction, Aircafts and spacecrafts, Motor Vehicles parts

Business plan & our achievements

Business Plan 2021-2023

In 2021, Biesse presented the 2021-2023 Strategic Plan. Biesse's strategy is focused on four main directives.

Ensure sustainable growth Empower offering & go-to-market

• Strengthen product portfolio
• Accelerate services growth
• Focused commercial development
• Strengthen brand positioning

Enhance digital manufacturing Enable future development

• HSD & Digital plant

• Industrial IoT & HMI

• Integrated Global Supply Chain

• Corporate Social Responsibility journey
• Inspire people

• Finance evolution

• One Company model fully operational

• Explore additional growth opportunities

The One Company journey: what's next

From globalization to regionalization

After 20 years of globalization predominance, the world is experiencing a geopolitical and economic reorganization in macro-regions.

In the next years we will empower our regional organization to boost our proximity to clients and ensure further business growth.

The technological innovation path

Technological evolution will be essential for Biesse in coming years.

We want to significantly evolve the technology around us to foster our product innovation, improve products and services performance and optimize our processes.

Biesse: the power of our identity.

In 2022 we began an extraordinary journey evolving our brand and our identity.

We defined our vision, mission and values, ensuring that they are accurately reflected in our real identity, communication and offering proposition.

In the coming years we will assert our unique value proposition for continued success in a dynamic and rapidly evolving business landscape.

Forvet & additional growth opportunities

In the last part of 2021, we completed the acquisition of Forvet. The acquisition's aim was to complete the range of glass processing machines with complementary industrial solutions that are perfectly integrated with our technologies.

Forvet offers technologically advanced modular lines and automated systems capable of guaranteeing high levels of productivity and flexibility.

The machinery industry is undergoing a process of consolidation through M&A, conducted mainly by market leaders.

In the next years we will adopt a clearly defined approach to evaluation and, eventually, execution of potential Merger and Acquisition transactions.

The main driver for potential future M&A activities will be the product portfolio extension and market share increase.

Performance on track: growing in revenues & EBITDA

Revenues and EBITDA: Actual, Plan (Range) & Budget 2019 – 2022 (€/mln)

CAGR '22-'20:

CAGR '22-'19:

Disclaimer

This presentation has been prepared independently by Biesse S.p.A. and can be used only during meetings with investors and financial analysts. It's solely for information purposes and it may contain statements regarding future financial performances and Company's expectations

Biesse is not responsible for the content processed by third parties and content indicated in this Document. No liability is accepted by or on behalf of Biesse for any errors, omissions or inaccuracies contained in this presentation.

Any forward looking statements are not guarantees of future performances and is related only of the date of this document. They are based on the Group's current state of knowledge, future expectations and projections about the future events. By their nature they are subject to inherent risks and uncertainties.

Further information concerning the Group results, including factors that could materially affect the Company itself (i.e. IFRS) will be included and detailed in the Financial Statement of the Group.

For further details on the Biesse S.p.A. reference should be made to publicly available information. including the Quarterly Reports, the Half Annual Report, the Annual Reports and the Three Years Business Plan.

Any reference to past performance of the Biesse S.p.A. shall not be taken as an indication of future performance.

This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

No action should be taken or omitted based on the informations contained in this Document. Biesse accepts no liability for the results of any action taken on the basis of the informations contained in this Document.

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