El.En. — Investor Presentation 2026

May 18, 2026

==> picture [106 x 41] intentionally omitted <==

COMPANY PRESENTATION

Intermonte Northern MidCap Event Virtual May 19[th] , 2026

==> picture [204 x 103] intentionally omitted <==

DISCLAIMER

2

Certain statements in this slide show,including those addressing the Company’s beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate and may be affected should our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation about the contents nor to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.

==> picture [237 x 212] intentionally omitted <==

==> picture [184 x 269] intentionally omitted <==

AGENDA

3

1. Overview

2. Markets and Growth Drivers

3. Our Strategy and Market Approach

4. Financial Highlights

5. Current Outlook

6. Multiples & Comparables

==> picture [184 x 269] intentionally omitted <==

OVERVIEW

5

OVERVIEW

A PRIMARY PLAYER PROVIDING MEDICAL,INDUSTRIAL AND CONSERVATION LASER SOLUTIONS WORLDWIDE

==> picture [41 x 141] intentionally omitted <==

==> picture [40 x 39] intentionally omitted <==

==> picture [39 x 40] intentionally omitted <==

World Class Hi-Tech company

Hi-Tech industrial group providing laser solutions with proprietary technologies and know how developed over 40 years

Listed on Euronext STAR Milan of Italian Stock Exchange since year 2000 and member of Euronext Tech Leaders

==> picture [184 x 269] intentionally omitted <==

Within Worldwide leaders in its space

Active worldwide on several laser application segments and markets…

…progressively widening its global presence achieving continuous growth over the

years

OUR APPROACH OVERVIEW

6

==> picture [47 x 47] intentionally omitted <==

==> picture [47 x 47] intentionally omitted <==

>40 >25

YEARS OF EXPERIENCE

SUBSIDIARIES

==> picture [62 x 56] intentionally omitted <==

8

COUNTRIES WITH DIRECT PRESENCE

==> picture [47 x 46] intentionally omitted <==

10

PLANTS

WE CREATE LIGHT,ENERGY,WAVES

==> picture [72 x 72] intentionally omitted <==

==> picture [54 x 11] intentionally omitted <==

----- Start of picture text -----

MEDICAL
----- End of picture text -----

==> picture [72 x 71] intentionally omitted <==

==> picture [70 x 10] intentionally omitted <==

----- Start of picture text -----

INDUSTRIAL
----- End of picture text -----

==> picture [72 x 71] intentionally omitted <==

==> picture [93 x 10] intentionally omitted <==

----- Start of picture text -----

CONSERVATION
----- End of picture text -----

Our energy based systems improve people’s well-being and life quality. In the SURGICAL SECTOR, our minimally invasive technology systems minimize pain, side effects and risks of surgical procedures and hospitalization days.

In the AESTHETIC SECTOR, our systems satisfy the growing desire of individuals to improve their appearance also reducing pathological or painful imperfections.

Our LASER CUTTING and MARKING SYSTEMS Improve the productivity of our customers manufacturing plants also limiting the environmental impact of manufacturing processes minimizing waste, fumes generated by the process, use of chemical additives, and allowing to eliminate the need for inks, solvents or glues within the process.

Our LASER SYSTEMS PRESERVE artworks of the universal heritage ofourcommunities.

All data refers to the Group without Chinese division

7

OUR APPROACH

==> picture [78 x 27] intentionally omitted <==

==> picture [75 x 28] intentionally omitted <==

==> picture [79 x 32] intentionally omitted <==

==> picture [85 x 30] intentionally omitted <==

OUR STRATEGY FOR A SUSTAINABLE FUTURE: Create value over time and be ready to successfully meet the future challenges

R&D

5

R&D dept.

€ >18 MLN Yearly R&D investments

==> picture [8 x 8] intentionally omitted <==

> 40 Patents

ISO 9001 e ISO 13485

==> picture [9 x 8] intentionally omitted <==

Certifications

==> picture [7 x 9] intentionally omitted <==

ISO 14064

El.En., Deka Mela and Quanta

==> picture [40 x 33] intentionally omitted <==

> 130

R&D specialists

==> picture [40 x 33] intentionally omitted <==

> 50

Quality & Regulatory specialists

PEOPLE

==> picture [40 x 32] intentionally omitted <==

==> picture [33 x 34] intentionally omitted <==

~18% under 30 years

>1.400 employees

33% of employees have a university degree and over 90% hold either a degree or a high school diploma

WELFARE at the heart of business projects.

Workspaces were renewed for several Group companies: employees well-being was increased and plants’energy efficiency as well

>33.800 HOURS Training

ENVIRONMENT

==> picture [34 x 33] intentionally omitted <==

9 Photovoltaic systems active in 2025

3 Photovoltaic plants in progress

==> picture [17 x 16] intentionally omitted <==

==> picture [19 x 12] intentionally omitted <==

==> picture [13 x 8] intentionally omitted <==

23%

Self-produced electrical energy share of the annual total consumption

==> picture [17 x 17] intentionally omitted <==

==> picture [18 x 11] intentionally omitted <==

==> picture [13 x 7] intentionally omitted <==

80%

Annual electricity consumption comes from renewable sources

All data refers to the Group without Chinese division

10

EL.EN. WORLDWIDE

==> picture [366 x 214] intentionally omitted <==

----- Start of picture text -----

Our people
1.130
Italy
31
79%
Bra
266
2% Europe
19%
----- End of picture text -----

UNMATCHED INNOVATION PIPELINE IN MEDICAL TECHNOLOGIES

10

==> picture [164 x 234] intentionally omitted <==

==> picture [85 x 86] intentionally omitted <==

TATTOO REMOVAL

==> picture [165 x 246] intentionally omitted <==

GOLD STANDARD IN

==> picture [85 x 86] intentionally omitted <==

==> picture [86 x 86] intentionally omitted <==

BODY SHAPING

DERMATOLOGICAL SURGERY & SCARS

==> picture [97 x 61] intentionally omitted <==

==> picture [177 x 205] intentionally omitted <==

==> picture [86 x 86] intentionally omitted <==

==> picture [86 x 86] intentionally omitted <==

HAIR REMOVAL

PHOTO-AGING & FACE LAXITY

INNOVATION PIPELINE IN INDUSTRIAL TECHNOLOGIES

10

==> picture [525 x 48] intentionally omitted <==

==> picture [270 x 152] intentionally omitted <==

==> picture [195 x 135] intentionally omitted <==

==> picture [104 x 104] intentionally omitted <==

POWERFUL & PRECISE LASER CUTTING

GOLD STANDARD IN

==> picture [104 x 105] intentionally omitted <==

==> picture [104 x 105] intentionally omitted <==

WOOD PANEL LASER MICROPERFORATION

LASER MARKING & ENGRAVING

==> picture [104 x 104] intentionally omitted <==

CO2 SEALED PULSED LASER SOURCES & INTEGRABLE SUBSYSTEMS

GROWTH HISTORY (w/o Chinese division)

11

==> picture [577 x 246] intentionally omitted <==

----- Start of picture text -----

REVENUES
----- End of picture text -----

==> picture [105 x 150] intentionally omitted <==

----- Start of picture text -----

Cagr 11/25:
+12%
in Euro million
----- End of picture text -----

==> picture [533 x 136] intentionally omitted <==

----- Start of picture text -----

EBIT
----- End of picture text -----

==> picture [100 x 100] intentionally omitted <==

----- Start of picture text -----

Cagr 11/25:
+24%
----- End of picture text -----

MARKETS AND GROWTH DRIVERS

13

LASER SURGERY MARKET TRENDS

MINIMALLY INVASIVE SURGERIES:

• Lower risks and side effects

• Faster recovery /Shorter hospital stays

• Savings by Private & National Health Systems

• • Attractive ROI for surgical services providers

• Rapidly Growing Urology laser market

• Growing consumables revenue stream in Urology

==> picture [191 x 192] intentionally omitted <==

==> picture [184 x 269] intentionally omitted <==

14

MEDICAL AESTHETICS MARKET TRENDS

• Aging demographics and increasing focus on

• improving appearance and youthfulness

• Cosmetic procedures as preventive measures for and to slow down the aging process

• Growing interest in non-invasive or minimally invasive procedures and awareness of energybased aesthetic treatments

• Reduction in procedure costs, attracting a broader patient base

• Aesthetic procedures becoming part of lifestyle

• and increasingly part of people’s wellbeing

• Rapid growth expected

==> picture [202 x 194] intentionally omitted <==

==> picture [184 x 269] intentionally omitted <==

15

MARKET RESEARCHES GROWTH ESTIMATES

MEDICAL LASER MARKET

• Mordor Intelligence CAGR 13% to 2031

• • Fortune business insights CAGR 11% to 2034 • Global Market Insights CAGR 17% to 2034 • Research and Markets CAGR 14% to 2029

With an estimated market size of ≃ $6 Bln in 2024 including:

• Ophthalmology - Dermatology – Aesthetics- Dentistry

• Surgical -Gynecology – Urology - Cardiovascular

AESTHETIC LASER AND ENERGY BASED DEVICES MARKET

• Research and Markets CAGR 9% to 2033

• • Market Growth Reports CAGR 12% to 2035 • Grand View Research CAGR 9% to2030

With an estimated market size of ≃ $6 Bln in 2024 including:

• Laser devices – RF devices – Ultrasound Devices – Plasma Devices – Light Therapy Devices

==> picture [202 x 194] intentionally omitted <==

==> picture [184 x 269] intentionally omitted <==

16

INDUSTRIAL LASER MARKET TREND

Laser cutting applications:

• Laser power increase + Cost reduction: enhanced flexibility, productivity and quality standards in manufacturing processes

• Automation for increased productivity

• New application verticals

==> picture [267 x 155] intentionally omitted <==

• Building and construction

==> picture [135 x 83] intentionally omitted <==

Laser marking:

• Products identification and traceability

• Minimal environmental impact

==> picture [297 x 122] intentionally omitted <==

Industrial laser Cutting Machines:

• Fortune Business Insights CAGR 11% to 2032

• Research and Markets CAGR 10% to 2029 Market Size: $6 billion in 2024

OUR STRATEGY AND MARKET APPROACH

OUR KNOWLEDGE

18

Technical Knowledge

==> picture [113 x 32] intentionally omitted <==

Electronics Optics Photonics Mechanics Fluid dynamics Power electronics Software

==> picture [46 x 143] intentionally omitted <==

==> picture [87 x 39] intentionally omitted <==

==> picture [26 x 24] intentionally omitted <==

==> picture [63 x 58] intentionally omitted <==

==> picture [112 x 42] intentionally omitted <==

==> picture [208 x 143] intentionally omitted <==

----- Start of picture text -----

LASER
SYSTEMS
----- End of picture text -----

==> picture [140 x 212] intentionally omitted <==

Application Expertise

==> picture [86 x 55] intentionally omitted <==

Aesthetics Surgery Dermatology Physiotherapy Cutting Marking Art Conservation

==> picture [85 x 48] intentionally omitted <==

==> picture [53 x 51] intentionally omitted <==

THE LASER ADVANTAGE

19

==> picture [106 x 145] intentionally omitted <==

==> picture [113 x 112] intentionally omitted <==

==> picture [96 x 100] intentionally omitted <==

==> picture [104 x 59] intentionally omitted <==

==> picture [298 x 263] intentionally omitted <==

----- Start of picture text -----

•
Flexibility
•
Speed
•
Power
•
Precision
•
Selectivity
•
Effectiveness
----- End of picture text -----

==> picture [184 x 269] intentionally omitted <==

20

MID-TERM STRATEGIC VISION BASED ON:

• Continuous investment in R&D: maintaining the unmatched wideness of our product range by innovating existing technologies and developing new ones

• Cooperation with primary research institutions and KOL’S

• Excellent coverage of the target markets based on the widespread and loyal distribution network created over the years

• Focus on innovative products release, technical support and continuous training to our customers

==> picture [345 x 258] intentionally omitted <==

• Unique Multi brand approach

WIDE RANGE OF PRODUCTS IN MEDICAL SECTOR

10

COMPANIES

==> picture [93 x 35] intentionally omitted <==

==> picture [157 x 53] intentionally omitted <==

==> picture [77 x 48] intentionally omitted <==

LASER SYSTEMS

Laser systems and cutting-edge technologies for 3 sectors of applications

==> picture [102 x 154] intentionally omitted <==

==> picture [119 x 123] intentionally omitted <==

==> picture [64 x 127] intentionally omitted <==

TREATMENTS

==> picture [60 x 9] intentionally omitted <==

----- Start of picture text -----

AESTHETICS
----- End of picture text -----

==> picture [72 x 97] intentionally omitted <==

==> picture [48 x 9] intentionally omitted <==

----- Start of picture text -----

SURGERY
----- End of picture text -----

==> picture [78 x 97] intentionally omitted <==

==> picture [54 x 23] intentionally omitted <==

----- Start of picture text -----

INTIMATE
HEALTH
----- End of picture text -----

==> picture [73 x 97] intentionally omitted <==

HAIR REMOVAL

SKIN REJUVENATION

==> picture [92 x 60] intentionally omitted <==

==> picture [92 x 61] intentionally omitted <==

TATTOO REMOVAL BODY CONTOURING

==> picture [94 x 61] intentionally omitted <==

==> picture [92 x 61] intentionally omitted <==

DERMATOLOGY

==> picture [92 x 60] intentionally omitted <==

VASCULAR LESIONS

==> picture [92 x 60] intentionally omitted <==

==> picture [97 x 9] intentionally omitted <==

----- Start of picture text -----

PIGMENTED LESIONS
----- End of picture text -----

==> picture [91 x 60] intentionally omitted <==

SKIN SURGERY

==> picture [92 x 59] intentionally omitted <==

ENT

==> picture [92 x 61] intentionally omitted <==

GYNECOLOGY

==> picture [88 x 61] intentionally omitted <==

==> picture [46 x 9] intentionally omitted <==

----- Start of picture text -----

UROLOGY
----- End of picture text -----

==> picture [92 x 59] intentionally omitted <==

GENERAL SURGERY

==> picture [89 x 61] intentionally omitted <==

WIDE RANGE OF PRODUCTS IN MEDICAL SECTOR

10

DEVICES

==> picture [79 x 135] intentionally omitted <==

==> picture [97 x 154] intentionally omitted <==

==> picture [105 x 148] intentionally omitted <==

Global reference in laser therapy and magnetotherapy for multidisciplinary uses

SECTORS & APPLICATIONS

PHYSIOTERAPHY

==> picture [132 x 98] intentionally omitted <==

REHABILITATION

==> picture [123 x 97] intentionally omitted <==

SPORTS MEDICINE

==> picture [133 x 97] intentionally omitted <==

VETERINARY MEDICINE

==> picture [141 x 94] intentionally omitted <==

10

WIDE RANGE OF PRODUCTS IN INDUSTRIAL SECTOR

COMPANIES

==> picture [107 x 50] intentionally omitted <==

==> picture [118 x 54] intentionally omitted <==

==> picture [92 x 22] intentionally omitted <==

==> picture [68 x 29] intentionally omitted <==

INDUSTRIAL DIVISION

LASER SYSTEMS

Systems for laser marking and engraving

Fiber laser metal-cutting systems with up to 60kW of power

==> picture [131 x 131] intentionally omitted <==

==> picture [270 x 110] intentionally omitted <==

Marking, cleaning, engraving, degating, and robotic integration solutions

CO2 Laser Sources, Laser Scanning Heads and Scanner Components

==> picture [94 x 112] intentionally omitted <==

==> picture [124 x 77] intentionally omitted <==

SECTORS & APPLICATIONS

==> picture [312 x 24] intentionally omitted <==

----- Start of picture text -----

DESIGN &
AUTOMOTIVE INDUSTRY ELECTRONICS
FASHION
----- End of picture text -----

==> picture [72 x 98] intentionally omitted <==

==> picture [78 x 98] intentionally omitted <==

==> picture [73 x 96] intentionally omitted <==

==> picture [73 x 98] intentionally omitted <==

==> picture [46 x 9] intentionally omitted <==

----- Start of picture text -----

LEATHER
----- End of picture text -----

==> picture [60 x 61] intentionally omitted <==

==> picture [39 x 8] intentionally omitted <==

----- Start of picture text -----

TEXTILE
----- End of picture text -----

==> picture [61 x 61] intentionally omitted <==

MARBLE

==> picture [60 x 61] intentionally omitted <==

==> picture [36 x 9] intentionally omitted <==

----- Start of picture text -----

METAL
----- End of picture text -----

==> picture [61 x 61] intentionally omitted <==

PLASTIC

==> picture [60 x 61] intentionally omitted <==

==> picture [36 x 9] intentionally omitted <==

----- Start of picture text -----

WOOD
----- End of picture text -----

==> picture [60 x 61] intentionally omitted <==

==> picture [31 x 9] intentionally omitted <==

----- Start of picture text -----

FOOD
----- End of picture text -----

==> picture [60 x 60] intentionally omitted <==

==> picture [33 x 9] intentionally omitted <==

----- Start of picture text -----

PAPER
----- End of picture text -----

==> picture [60 x 61] intentionally omitted <==

WIDE RANGE OF PRODUCTS IN ART RESTORATION

10

==> picture [311 x 36] intentionally omitted <==

LASER SYSTEMS

==> picture [107 x 162] intentionally omitted <==

==> picture [84 x 170] intentionally omitted <==

==> picture [112 x 141] intentionally omitted <==

Laser systems for:

CONSERVATION AND RESTORATION OF WORKS OF ART GRAFFITI REMOVAL

==> picture [85 x 10] intentionally omitted <==

----- Start of picture text -----

APPLICATIONS
----- End of picture text -----

==> picture [110 x 93] intentionally omitted <==

==> picture [110 x 94] intentionally omitted <==

==> picture [112 x 94] intentionally omitted <==

==> picture [105 x 94] intentionally omitted <==

==> picture [102 x 93] intentionally omitted <==

==> picture [103 x 94] intentionally omitted <==

25

OUR PRODUCTS

==> picture [111 x 166] intentionally omitted <==

==> picture [117 x 61] intentionally omitted <==

Innovative

Safe

• powerful

==> picture [110 x 180] intentionally omitted <==

----- Start of picture text -----

-
----- End of picture text -----

• gentle and + fast - painful

==> picture [79 x 110] intentionally omitted <==

==> picture [86 x 57] intentionally omitted <==

User friendly

==> picture [186 x 145] intentionally omitted <==

• effective

==> picture [184 x 269] intentionally omitted <==

FINANCIAL HIGHLIGHTS

INCOME STATEMENT – FY 2025

27

Euro '000	31/12/2024	31/12/2024	%	31/12/2025	%	Var. %
Medical	410.401		72,5%	428.648	72,5%	4,4%
Industrial	155.444		27,5%	162.201	27,5%	4,3%
Revenues	**565.846 **		100,0%	**590.849 **	100,0%	4,4%
Gross margin	245.637		43,4%	259.758	44,0%	5,7%
Operating Expenses	55.092		9,7%	59.879	10,1%	8,7%
Staff espenses	98.770		17,5%	107.047	18,1%	8,4%
EBITDA	91.775		16,2%	92.831	15,7%	1,2%
Depr., amort., accruals	13.467		2,4%	15.035	2,5%	11,6%
EBIT	78.309		13,8%	77.796	13,2%	-0,7%
Net financ.income(charges)		802	0,1%	(813)	-0,1%
Other income (expense) net		4.993	0,9%	(2.729)	-0,5%
EBT	84.104		14,9%	74.255	12,6%	-11,7%
Income taxes	(21.227)		-3,8%	(23.497)	-4,0%	10,7%
Discontinued operations	(10.372)		-1,8%	(6.573)	-1,1%	-36,6%
Minorities		(892)	-0,2%	(770)	-0,1%	-13,7%
NET INCOME	51.613		9,1%	43.415	7,3%	-15,9%

BALANCE SHEET– FY 2025

28

Euro '000	31/12/24	31/12/25	Var.%
Total non current assets	103.237	118.766	15,0%
Net Working Capital	199.826	184.586	-7,6%
Other receivables/payables ST	(32.675)	(31.183)	-4,6%
Net financial position	110.559	172.212	55,8%
Long term liabilities	16.071	16.907	5,2%
Net Equity	410.802	427.474	4,1%
Discontinued operation	45.926	0	-100,0%
Net capital employed	300.243	255.262	-15,0%
Net Working Capital on sales	35,3%	31,2%
ROCE	26,1%	30,5%
(EBIT/Net capital employed)
OperatingCapex	11.623	19.376

INCOME STATEMENT – Q1 2026

29

Euro '000	31/03/2025	%	31/03/2026	%	Var. %
	unaudited		unaudited
Medical	99.204	70,4%	108.362	74,4%	9,2%
Industrial	41.696	29,6%	37.200	25,6%	-10,8%
Revenues	**140.900 **	100,0%	145.562	100,0%	3,3%
Gross margin	62.947	44,7%	67.155	46,1%	6,7%
Operating Expenses	15.132	10,7%	16.270	11,2%	7,5%
Staff espenses	26.088	18,5%	27.212	18,7%	4,3%
EBITDA	21.726	15,4%	23.673	16,3%	9,0%
Depr., amort., accruals	4.316	3,1%	3.820	2,6%	-11,5%
EBIT	17.410	12,4%	19.853	13,6%	14,0%
Net financ.income(charges)	(1.111)	-0,8%	875	0,6%
Other income (expense) net	19	0,0%	(717)	-0,5%
EBT	16.318	11,6%	20.010	13,7%	22,6%
	31/12/25		31/03/26
			unaudited
Net financial position	172.212		173.729

30

Cash Flow – Q1 2026

==> picture [694 x 454] intentionally omitted <==

----- Start of picture text -----

9 mln
5 mln
4 mln
Nopat =Ebit-Income tax
D&A= Depreciation, Accruals and Devaluation
NWC= Net Working Capital
----- End of picture text -----**

Revenue Breakdown by Business – Q1 2026

31

Medical: +9%

==> picture [26 x 8] intentionally omitted <==

----- Start of picture text -----

+10%
----- End of picture text -----

==> picture [249 x 38] intentionally omitted <==

----- Start of picture text -----

+8%
+6%
+2%
----- End of picture text -----

==> picture [23 x 8] intentionally omitted <==

----- Start of picture text -----

-20%
----- End of picture text -----

in Euro million

==> picture [357 x 39] intentionally omitted <==

----- Start of picture text -----

-12% +52% Industrial: -11%
-25%
----- End of picture text -----

Revenue Breakdown by Area – Q1 2026

32

==> picture [403 x 182] intentionally omitted <==

----- Start of picture text -----

+8%
+17%
-6%
----- End of picture text -----

Medical: +9%

in Euro million

==> picture [693 x 265] intentionally omitted <==

----- Start of picture text -----

-2%
+16%
-46%
Industrial: -11%
----- End of picture text -----

CURRENT OUTLOOK

2026 Guidance

34

Revenues increase: ~ +5% EBIT% 2026 > EBIT% 2025

==> picture [461 x 307] intentionally omitted <==

==> picture [184 x 269] intentionally omitted <==

MULTIPLES & COMPARABLES

MULTIPLES

36

	Stockholder's Equity per share	5,5
	**Price/ Book Value Adj. **	2,5
	EV/EBIT(95% EBIT)	12,5
	EV/ Sales(95% Sales)	1,7
	El.En. Market Cap.	**1.125,4 **	@ € 14,00
	Net financial position	**173,7 **	@ 31/03/2026
	Financial investments m/l term	**10,8 **	@ 31/03/2026
	Enterprise Value	940,8

37

MULTIPLES

March 31st, 2026

March 31st, 2026
	Price on M ay 18,	Revenue	Var.%	EBIT	EBIT	MK.Cap.	EV	EV/Sales	EV/EBIT	P/Book
Medical/Aesthetic	2026		Rev.		%			(*)	(*)	Value
InMode	$13,90	$82	5%	$10	12%	$881	$348	1,1	8,6	1,3
Classys	€ 27,58	€ 51	1%	€ 22	43%	€ 1.887	€ 1.864	9,2	21,5	6,2
Sisram Medical(2)	$0,35	$365	5%	$32	9%	$165	$142	0,4	4,5	0,3
Beauty Health	$0,64	$65	-7%	$(2)	-3%	$83	$246	0,9	n.a.	1,5
Wontech	$4,42	$23	-4%	$7	28%	$415	$379	4,0	14,5	4,5
Sofwave	$1.417,86	$24	46%	$2	7%	$524	$489	5,0	75,2	15,0

Sofwave	$1.417,86		$24	46%	$2	7%	$524	$489	5,0	75,2	15,0
Industrial
Bystronic(2)	CHF 180		CHF 613	-5%	-CHF 20	-3%	CHF 371	CHF 43	0,1	n.a.	0,6
Yamazaki	253 JPY		541 JPY	-33%	-63 JPY	-12%	1.130 JPY	1.959 JPY	0,9	n.a.	1,1
Amada	2.658 JPY	142.388 JPY		17%	18.292 JPY	**13% **	830.050 JPY	762.244 JPY	1,3	10,4	1,6
El.En.(1)	€ 14,00		€ 146	3%	€ 20	14%	€ 1.125,38	€ 941	1,7	12,5	2,5
(1) EV and multiplies as for previous slide
(2) Financials @ 31.12.2025

38

El.En. vs. FTSE Star Italy

==> picture [679 x 378] intentionally omitted <==

PEERS

39

==> picture [638 x 446] intentionally omitted <==

CONTACTS

==> picture [106 x 41] intentionally omitted <==

El.En. S.P.A. Enrico Romagnoli Investor Relations Manager tel. +39 055-8826807 E-mail: finance@elen.it

POLYTEMS HIR Financial Communication, IR and Press Office Bianca Fersini Mastelloni - b.fersini@polytemshir.it Silvia Marongiu - s.marongiu@polytemshir.it Tel. +39 06-69923324