Elica

Earnings Release • Jul 30, 2024

IR Elica S.p.A.:

Francesca Cocco Lerxi ConsulEng – Investor RelaEons Tel: +39 (0)732 610 4205 E-mail: investor-relaEons@elica.com

Elica S.p.A.:

Michela Popazzi Corporate & Internal CommunicaEon Specialist Mob: +39 345 6130420 E-mail: m.popazzi@elica.com

Press Office: Havas PR

ValenEna Burlando M +39 335.6182360 valenEna.burlando@havaspr.com Giulia Bertelli M +39 340.1453906 giulia.bertelli@havaspr.com

ELICA BOD APPROVES H1 2024 RESULTS

RESULTS IN LINE WITH PLANS, SLOWING REVENUE DECLINE IN A CONTEXT OF PERSISTENT MARKET CONTRACTION AND NEGATIVE PRICE MIX

REVENUE OF EURO 237.4 MILLION (-6.3% ORGANIC VS H1 2023), Q2 OF EURO 120.1 MILLION (-4.0% ORGANIC VS Q2 2023) IMPROVING Q/Q, DRIVEN BY:

• § OEM SEGMENT +9.3% VS Q2 2023 THANKS TO NEW PROJECTS AND CUSTOMERS
• § OWN BRANDS IN NORTH AMERICA +27% VS Q2 2023, CONFIRMING SUCCESSFUL DISTRIBUTION STRATEGY

COST REDUCTION TO PROTECT MARGINS CONTINUES

ADJUSTED EBITDA IMPROVED Q/Q BY 110 BPS (7.6% VS 6.5% 1Q 2024) DESPITE STRONG INVESTMENT PLAN ON BRAND, DISTRIBUTION AND NEW PRODUCTS. FIRST 6 MONTHS AT EURO 16.7 MLN (-35.9% VS 1H 2023), MARGIN ON SALES AT 7% (10.2% IN 1H 2023).

DEBT UNDER CONTROL THANKS TO EFFICIENT MANAGEMENT OF MANAGERIAL WORKING CAPITAL AND INVESTMENTS' OPTIMISATION

SECOND "COMPASSO D'ORO" FOR ELICA WITH "LHOV", A PRODUCT WHICH HAS CHANGED THE RULES FOR THE CATEGORY, CONFIRMING THE GROUP'S FOCUS ON A NEW COOKING DIMENSION

EXTRAORDINARY SHAREHOLDERS' MEETING OF ELICA S.P.A. CALLED TO CONSIDER THE PROPOSALS TO AMEND THE BY-LAWS SO AS TO INTRODUCE "ORDINARY" MULTI-VOTE SHARES AND "STRENGTHENED" MULTI-VOTE SHARES

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

Fabriano, July 30, 2024 – The Board of Directors of Elica S.p.A. has approved the H1 2024 results, prepared in accordance with IFRS accounDng standards.

***

"Despite the s9ll unfavourable market environment across our main geographies, Q2 results confirm the solidity of our fundamentals and the flexibility of our business model. Our products, projects and personnel have proven to be the right choices. Although it is true that every crisis has a beginning and an end, we are confident that today's ac9ons and projects will allow us to maximise the poten9al of future opportuni9es". stated Francesco Casoli, Execu^ve Chairman of Elica S.p.A.

"The sector con9nues to contract significantly, but we are pressing on. We have maintained margins in a period of major investmentsto support the Cooking segment transforma9on. These investments are crucial for our future. We have acted incisively on costs and are focusing on becoming ever closer to those highpoten9al markets in which we have not yet established a direct presence. This is considered also in view of our successful experience to date in North America, where we have achieved promising results through the new distribu9on strategy and ini9a9ves which shall also be extended to Europe. Our vision is very clear and we shall execute our project with a medium-term outlook, confident that the results shall materialise" stated Giulio Cocci, Chief Execu^ve Officer of Elica.

***

H1 2024 key consolidated results:

Revenue: Euro 237.4 million; Adjusted EBITDA1: Euro 16.7 million (7% margin on revenues); Adjusted EBIT2: Euro 5.1 million (2% margin on revenues); Adjusted Net Profit3: Euro 1.8 million; Adjusted Group Net Profit: Euro 1.2 million. The MinoriDes profit was approx. Euro 0.7 million; Adjusted Net Financial Posi^on4: net debt of Euro 44.9 million (excluding IFRS 16 effect for Euro 11.3

million)

Elica Group H1 2024 Opera:ng Performance

Revenue at Euro 237.4 million (-6.8% vs H1 2023, -6.3% organic), improving in Q2 2024 (+3%) on the first quarter of the year, driven by OEM segment growth (+9.3% vs Q2 2023), thanks to the new projects and customers and the recovery of

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¹ The value was adjusted considering the extraordinary negative effects from the reorganisation and SG&A costs totalling Euro 0.1 million, and the negative effects from the implementation costs for the new brand identity for Euro 0.8 million

² The value was adjusted considering the extraordinary effects in line with EBITDA.

³ The indicated value was adjusted for the extraordinary effects in line with EBITDA and EBIT, in addition to the tax effect.

⁴ The value indicated is net of the IFRS 16 effect and of the payables for investment acquisitions, as outlined in the NFP table.

the Motors segment, despite the sDll weak market environment, both for the Cooking and Motors divisions, which conDnues to affect the recovery of revenue and margins and parDcularly on the Group's main European market. EMEA revenue, accounDng for approx. 80% of total revenue, contracted 7.6%, with Elica's performance therefore mirroring the market.

The Cooking division, which accounts for 78% of total revenue, contracted 4.1% (-3.5% organic), with all product categories declining, although parDcularly own brand sales by 10.3% (-8.7% at constant exchange rates) on the first half of 2023, in line with the market. OEM (third party brand channel) sales however grew, enabling 5.8% growth (5% at constant exchange rates) on the first half of 2023, and parDcularly in Europe and in America.

The North American business in fact reported growth of 5% vs H1 2023, thanks to the winning of new OEM customers, the launch of new products and the new distribuDon strategy.

The Motors division, accounDng for 22% of total revenues, saw sales contract 14.9% on the first half of 2023, in line with the HeaDng market which contracted significantly across Europe following the excepDonal peak of 2023. In addiDon, results were impacted also by the uncertainty and delays regarding the energy transiDon regulaDons, together with a change in the incenDve rules and the measures to reduce OEM customer stock. The VenDlaDon area however reports signs of recovery in 2024 quarter-overquarter. For both divisions, the gaining of new market share is parDally offseeng the weak market environment.

Adjusted EBITDA at Euro 16.7 million (Euro -9.4 million in H1 2023), with a margin on revenue of 7% (10.2% in H1 2023). In the first half of 2024, in addiDon to the negaDve price mix effect and a market featuring heightened promoDonal acDvity, the costs incurred by Elica to support growth for products, rebranding, posiDoning and "Eurocucina" impacted significantly, parDally offset by SG&A cost control and the iniDal reducDon of raw material costs. Finally, there was a significant improvement in the margin of 110bp in Q2 to 7.6% of revenue, compared to 6.5% in the first quarter of the year.

Adjusted EBIT at Euro 5.1 million (Euro -9 million vs H1 2023), with a margin on revenue of 2% (6% in H1 2023), improving in Q2 to 2.8% of revenue, compared to 1.5% in Q1.

Net financial expenses at Euro -3.6 million compared to Euro -2.3 million in the same period of the previous year. In the comparison, the negaDve impact of exchange rates, parDcularly on the Japanese Yen and the Mexican Peso against H1 2023,

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

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COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

should be considered, in addiDon to the increased cost of funding from the second half of 2022 following the raising of the ECB's benchmark rates.

Adjusted Net Profit	at Euro 1.8 million, compared to Euro 9.3 million in H1 2023.
Adjusted Group	at Euro 1.2 million, compared to Euro 8.5 million in H1 2023. The MinoriDes
Net Profit	profit was approx. Euro 0.7 million.

In Euro thousands	H1 2024	% revenue	H1 2023	% revenue	Changes %
Revenue	237,350		254,545		-6.8%
Adjusted EBITDA	16,707	7.0%	26,060	10.2%	-35.9%
EBITDA	15,808	6.7%	25,058	9.8%	-36.9%
Adjusted EBIT	5,110	2.2%	14,158	5.6%	-63.9%
EBIT	4,211	1.8%	13,156	5.2%	-68.0%
Net financial expense	(3,569)	-1.5%	(2,276)	-0.9%	-56.8%
Income taxes	506	0.2%	(2,373)	-0.9%	121.3%
Profit from conXnuing operaXons	1,148	0.5%	8,507	3.3%	-86.5%
Adjusted Net Profit for the period	1,831	0.8%	9,268	3.6%	-80.2%
Net profit for the period	1,148	0.5%	8,507	3.3%	-86.5%
Adjusted Group Net Profit	1,161	0.5%	8,533	3.4%	-86.4%
Group Net Profit	478	0.2%	7,772	3.1%	-93.9%
Earnings/(loss) per share (Euro/cents)	0.77		12.43		-93.8%
Diluted earnings/(loss) per share (Euro/cents)	0.77		12.43		-93.8%

Elica Group Equity and Financial Performance Analysis at June 30, 2024

at Euro -44.9 million at June 30, 2024 (net of the IFRS 16 effect of Euro -11.3 million), stable on the preceding quarter despite the pressure on margins. The main impacts on the net financial posiDon at June 30, 2024 were from:

• adequate working capital management through the strategic iniDaDves rolled out in previous years, including the "Supply Chain Finance SoluDon" programme and the Group's stock opDmisaDon;

• Capex for Euro -7.1 million (excluding IFRS 16 effect), substanDally in line with H1 2023, confirming the appropriate balancing between financial management and investments in innovaDon and product development. The investments concern, in parDcular, the brand reposiDoning project, involving a shil towards a "Cooking" concept company, through extending the cooking product line and including the innovaDve LHOV product;

• the execuDon of the share buy-back plan for approx. Euro -0.8 million;

• the cash out related to dividends to minoriDes and other financial items of Euro -0.7 million;

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

Adjusted Net Financial Posi^on

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

Leverage was 1.2x, slightly increasing on H1 2023 (0.8x), despite the EBITDA Margin pressure related to the above-outlined market dynamics. The net financial posi^on highlights the solidity of the Group's medium-term strategic plan.

We highlight, finally, the drawdown of a new loan (credit line of Euro 70 million), with final maturity at 5 years from the subscripDon date.

Opera^ng FCF at Euro 11.8 million, compared to Euro 13.1 million in H1 2023. The percentage on revenues decreased from 5.1% to 4.9%.

In Euro thousands	30/06/2024	31/12/2023	30/06/2023
Cash	60,253	39,403	61,143
Bank loans and borrowings (current)	(60,933)	(43,467)	(44,937)
Bank loans and borrowings (non-current)	(44,208)	(37,236)	(53,042)
Adjusted Net Financial Posi]on	(44,888)	(41,300)	(36,836)
Lease liabiliXes (current)	(4,142)	(4,240)	(3,937)
Lease liabiliXes (non-current)	(7,109)	(7,944)	(9,084)
Adjusted Net Financial Posi]on - Including IFRS 16
impact	(56,139)	(53,484)	(49,857)
Other payables for purchase of investments	(1,000)	(1,000)	(1,475)
Net Financial Posi]on	(57,139)	(54,484)	(51,332)

Managerial Working Capital The percentage on annualised revenue was 3.1% in H1 2024, compared to 2.2% in 2023, confirming that working capital has been opDmised thanks to the acDons introduced, including the prudent management of inventory, of DSO (Days Sales Outstanding) and of DPO (Days Payable Outstanding).

In Euro thousands	30/06/2024	31/12/2023	30/06/2023
Trade receivables	49,976	26,731	46,907
Inventories	91,129	90,874	109,170
Trade payables	(126,455)	(107,025)	(139,168)
Managerial Working Capital	14,650	10,580	16,909
% annualised revenue	3.1%	2.2%	3.3%
Other net assets/liabiliXes	(8,894)	446	(7,395)
Net Working Capital	5,756	11,026	9,514

***

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

Significant events in the period

January 30, 2024 - sponsorship signed with DucaD's Corse team, ahead of the start of the 2024 Moto GP world championship. Elica officially debuted with DucaD Corse at the Qatar Grand Prix.

February 13, 2024 - the Board of Directors of Elica S.p.A. approved the addiDonal periodic disclosure for the fourth quarter of 2023, prepared according to IFRS and the 2023 preliminary consolidated results. March 14, 2024 - the Board of Directors of Elica S.p.A. approved the consolidated results at December 31, 2023 and the statutory financial statements at December 31, 2023, prepared in accordance with IFRS, in

addiDon to the Directors' Report.

March 21, 2024 - Elica and Cooking: new posiDoning unveiled, driven by innovaDon, creaDvity and design. Elica marked an important milestone in its evoluDon with a new posiDoning, revoluDonary products and

a completely revamped brand idenDty, presented at Eurocucina 2024.

April 3, 2024 - second part of the Elica ordinary share Buyback plan concludes, announced to the market on October 26, 2023 and beginning on November 6, 2023, in execuDon of the Shareholders' MeeDng resoluDon of April 27, 2023 (the "Buyback Plan"), according to the condiDons previously announced to the market. In the period between November 6, 2023 and April 3, 2024, Elica acquired 350,000 ordinary shares (equal to 0.55% of the share capital), with a total value of Euro 720,504 and a volume-weighted average price of Euro 2.06. As a result of the purchases made, Elica holds a total of 1,326,173 treasury shares, equal to 2.09% of the share capital.

April 24, 2024 - the Shareholders' MeeDng of Elica S.p.A., meeDng in ordinary session, approved the 2023 Annual Accounts of Elica S.p.A., the Directors' Report, the Non-Financial Report and viewed the Board of Statutory Auditors' Report and the Independent Auditors' Report. The Shareholders' MeeDng also noted the consolidated results for 2023. On the same date, the members of the Board of Directors and Board of Statutory Auditors were appointed to serve unDl the approval of the 2026 Annual Accounts. Purchase and disposal of treasury shares authorised.

April 24, 2024 - Elica S.p.A. announces that on April 24, 2024 the third tranche of the Elica ordinary share Buyback plan concluded, announced to the market on March 14, 2024 and launched on April 2, 2024, in execuDon of the Shareholders' MeeDng resoluDon of April 27, 2023.

In the period between April 4, 2024 and April 19, 2024, Elica acquired 45,546 ordinary shares (equal to 0.07% of the share capital), with a total value of Euro 85,934 and a volume-weighted average price of Euro 1.89.

As a result of the purchases made, Elica held a total of 1,371,719 treasury shares, equal to 2.17% of the share capital.

The Company also announced the launch from April 26, 2024 of a new treasury share buyback programme authorised by the Shareholders' MeeDng of April 24, 2024 (the "Buyback Plan") according to the terms previously disclosed to the market. In execuDon of this Shareholders' MeeDng resoluDon, from April 26, 2024 and unDl the Shareholders' MeeDng called to approve the 2024 financial statements, a Buyback Plan was launched, for a maximum 1,000,000 treasury shares (represenDng approx. 1.6% of the subscribed and paid-in share capital).

May 9, 2024, subscribed, by the parent company Elica Spa with a pool of 4 banks and, in parDcular, with BNL BNP Paribas as co-ordinaDng bank and agent bank, Intesa Sanpaolo S.p.A. (IMI-CIB Division), BNL BNP Paribas, Crédit Agricole Italia S. p.A. and UniCredit S.p.A. as mandated lead arrangers, a medium-term cash line for a maximum amount of Euro 70 million, with a final maturity of 5 years from the subscripDon date.

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

The cash line made available by the lending banks is principally intended to support the medium/longterm needs, as well as the investment plan foreseen for 2024 and 2025 of Elica S.p.A. and its subsidiaries. June 20, 2024 - Lhov, Elica's kitchen soluDon, was awarded the "Compasso D'Oro", an internaDonal design award in its 28th ediDon.

As a result of the purchases made, at June 30, 2024 Elica held a total of 1,508,068 treasury shares, equal to 2.38% of the share capital.

Outlook

The general Cooking segment conDnued to contract in the first six months of 2024, amid a negaDve price mix and significant promoDonal acDvity. We add to this already complex situaDon the decline in the Motors' segment, mainly as a result of slowing residenDal demand and the regulatory uncertainty stemming from the energy transiDon. In this environment, the Group remains commited to maintaining market share, and improving revenue and margins Q/Q, driven by OEM segment growth thanks to new projects and customers, the success of the distribuDon strategy introduced in North America and Canada for own brands, and a Motors division recovery.

Finally, thanks to the brand investment strategy and the transformaDon of the Cooking segment and the extension of the product range, the direct distribuDon policy in North America and Canada and the energy transiDon-related opportuniDes for the Motors division, such as the sale of heat pumps, in addiDon to the launch of new products, the Group is laying the foundaDons for a recovery of revenue and margin growth over the medium/long-term, within a sDll weak market environment again in the second half of the year.

Outlook FY2024:

• Forecast revenues in the Euro 460 465 million range, due to a further slowing of the market recovery.
• The pressure on margins conDnues as a result of the impact of product, markeDng, rebranding and communicaDons capex to support the growth of the Cooking transformaDon project and to defend market share, within a deterioraDng general market and price-mix.
• Net Financial PosiDon expected to be in line with FY2023.

Medium-long term outlook in a flat market environment vs 2023 confirmed

• Revenues (organic) > Euro 500 million, driven by:
• Adjusted EBIT Margin > of 6%
• Leverage < 0.5X

***

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

Extraordinary Shareholders' Mee:ng of Elica S.p.A.

The Board of Directors of Elica S.p.A. today in addiDon approved the calling of the Extraordinary Shareholders' MeeDng, which shall be held exclusively through the designated agent, also through teleconference, on September 19, 2024 at 9AM in single call.

The Shareholders' MeeDng shall be called to consider the proposals to amend the By-Laws so as to introduce "ordinary"5 mulD-vote shares and "strengthened"6 mulD-vote shares, as per ArDcle 127 quinquies of the CFA, as recently amended by the Joint-Stock Companies Bill ("DDL Capitali").

With the By-Law amendment approved with the favourable vote of the independent directors, and with the abstenDon of the Chairman of the Board of Directors, Francesco Casoli, and Director CrisDna Casoli, Elica - which maintains its registered office, tax residency and lisDng in Italy -seeks to award the long-term commitment of its shareholders and to adopt a shareholder structure which permits simultaneously (i) the maintenance and strengthening of the shareholder base, which is considered important in pursuing long-term growth strategies, and (ii) the pursuit of opportuniDes for growth along external lines through the placement of a larger porDon of the share capital among the public, but also through acquisiDons or joint ventures, for example, to be completed also through share swaps.

It should be noted that Shareholders not parDcipaDng in the approval of the resoluDon on strengthened mulD-vote shares may exercise their right of withdrawal pursuant to ArDcle 2437 of the Civil Code, within 15 days of registraDon of the Shareholders' MeeDng resoluDon approving the change with the Companies RegistraDon Office, against payment of a liquidaDon value determined by the Board of Directors of Elica S.p.A. in accordance with ArDcle 2437-ter of the Civil Code. Exercise terms and condiDons for the right to withdrawal are outlined in detail in the illustraDve report of the Board of Directors to the Shareholders' MeeDng.

The Shareholders' MeeDng call noDce outlining the methods for parDcipaDon and the illustraDve report of the Board of Directors to the Shareholders' MeeDng containing the proposals to be considered shall be made available to the public at the registered office, and also on the authorised storage mechanism at , in addiDon to the company website (Shareholders' MeeDng | Elica Italia SecDon) from today.

***

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

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⁵ i.e. The proposal to allocate - as per ArXcle 127-quinquies of the CFA - two (2) votes to each share held by the voteholder for a conXnuous period of twenty-four (24) months from the date of their inclusion on the special list;

⁶ i.e. The proposal - as per ArXcle 127-quinquies, paragraph 2 of the CFA - to allocate one (1) addiXonal vote at the end of the further twelve (12) month period following the expiry of the twenty-four (24) month period for the "ordinary" mulX-vote shares (point 5 above), to each share held by the same person on the special list up to a maximum total of three (3) votes per share (including the "ordinary" mulX-vote increase).

Declara:on pursuant to Ar:cle 154-bis, paragraph two, T.U.F.

The Manager in charge of preparing the company's financial reports, Mr. Emilio Silvi, declares, pursuant to ArDcle 154-bis, second paragraph, of LegislaDve Decree No. 58/98, that the accounDng informaDon contained in this press release corresponds to the documented results, books and accounDng records.

***

Elica is an Italian company that sits at the forefront of the design and producXon of home appliances for cooking. It boasts over 50 years of history and global leadership in kitchen extractor systems. It is the European benchmark in electric motors for home appliances and boilers. It employs around 2,600 staff between its headquarters in Fabriano and seven faciliXes in Italy, Poland, Mexico and China. These are the figures that tell the story of Elica, which is constantly guided by Chairperson Francesco Casoli. The company's results are inspired by values that have always guided every one of its projects, products, and acXviXes: design that combines aestheXcs and performance for an extraordinary cooking experience, art as a model for creaXve processes and working methods, and innovaXon for technology that brings out the very best in product funcXonality.

Definitions and reconciliations

Definitions

EBITDA is the operaDng result (EBIT) plus amorDsaDon and depreciaDon and any impairment losses on Goodwill, brands and other tangible and intangible assets.

EBIT is the operaDng result as reported in the consolidated Income Statement.

Adjusted EBITDA is EBITDA net of the relaDve adjustment items.

Adjusted EBIT is EBIT net of the relaDve adjustment items.

Net financial income/(expense) is the sum of the Share of profit/(loss) from Group companies, Financial income, Financial Charges and Exchange rate gains and losses.

The adjusted result is the result for the period, as published in the Consolidated Income Statement, net of the relaDve adjustment items.

The adjusted Group result is the result for the period atributable to the owners of the Parent, as published in the Consolidated Income Statement, net of the relaDve adjustment items.

Adjustment items: earnings items are considered for adjustment where they: (i) derive from non-recurring events and operaDons or from operaDons or events which do not occur frequently; (ii) derive from events and operaDons not considered as in the normal course of business operaDons, as is the case for impairments, disputes considered atypical in terms of frequency and amount and restructuring charges, of the costs for M&A's, whether executed or not, and any rightsizing costs.

The earnings per share for H1 2024 and H1 2023 was calculated by dividing the Group profit atributable to the owners of the Parent, as defined in the Consolidated Income Statement, by the number of outstanding shares at the respecDve reporDng dates. The number of shares outstanding at period-end differs from that at December 31, 2023 and June 30, 2023 due to the launch of the treasury share buyback plan. The earnings (loss) per share so calculated does not match the earnings (loss) per share as per the consolidated Income Statement, which is calculated as per IAS 33, based on the average weighted number of shares outstanding.

Managerial Working Capital is the sum of Trade receivables with Inventories, net of Trade payables, as presented in the Consolidated Statement of Financial PosiDon.

Net Working Capital is the amount of Managerial Working Capital and Other net receivables/payables.

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

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COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

Other net receivables/payables comprise the current porDon of Other receivables and Tax Receivables, net of the current porDon of Provisions for risks and charges, Other payables and Tax payables, as presented in the Consolidated Statement of Financial PosiDon.

The Adjusted Net Financial PosiDon is the sum of Cash and Cash equivalents, less Current and Non-current bank loans and borrowings, as reported in the Statement of Financial PosiDon.

The Adjusted Net Financial PosiDon - Including IFRS 16 Impact is the sum of the Adjusted Net Financial PosiDon and current and non-current lease payables from applicaDon of IFRS 16, as reported in the Consolidated Statement of Financial PosiDon.

The Net Financial PosiDon is the sum of the Adjusted Net Financial PosiDon - Including IFRS 16 Impact and of the liabiliDes included among other payables arising in relaDon to the acquisiDon of the new companies, belonging to the consolidaDon scope or of addiDonal shares in exisDng subsidiaries. The result coincides with the Consob definiDon of the Net Financial PosiDon

Fixed assets is the sum of Property, Plant and Equipment, Intangible Assets with a definite useful life and Goodwill.

Other net allocated assets is the sum of all asset and liability items, excluding those included in Fixed Assets, Managerial Working Capital, Equity and the Net Financial PosiDon.

Reconciliations

in Euro thousands	H1 2024	H1 2023
Opera]ng profit – EBIT	4,211	13,156
(Impairment losses on Tangible and Intangible assets)	-	-
(AmorXsaXon & DepreciaXon)	11,597	11,902
EBITDA	15,808	25,058
Realised and unrealised M&A's	79	88
Services	79	88
Other operaXng expenses and accruals
Other reorganisa5ons and Rightsizing	19	847
Changes in inventories finished/semi-finished goods	0	45
Raw materials and consumables	0	61
Services	18	132
Personnel expenses	114	165
Restructuring charges	(150)	444
New Cooking Vision	802	-
Services	768	-
Raw materials and consumables	29	-
Other operaXng expenses and accruals	5	-
Others	36	68
Services	22	68
Other operaXng expenses and accruals	15	-
EBITDA adjustment items	899	1,002
Adjusted EBITDA	16,707	26,060

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN

H1 2024	H1 2023
4,211	13,156
899	1,002
899	1,002
5,110	14,158

in Euro thousands	H1 2024	H1 2023
Profit for the period	1,148	8,507
EBIT adjustment items	899	1,002
Income taxes on adjusted items	(216)	(240)
Adjusted Net Profit for the period	1,831	9,268
(Profit acributable to non-controlling interests)	(670)	(735)
(Adjustments to non-controlling interests)	-	-
Adjusted Group Net Profit	1,161	8,533

in Euro thousands	H1 2024	H1 2023
Group Net Profit (in Euro thousands)	478	7,772
Outstanding shares at year-end	61,814,732	62,544,450
Earnings per share (Euro/cents)	0.77	12.43

In Euro thousands	30/06/2024	31/12/2023	30/06/2023
Other current receivables	24,763	26,096	20,449
Tax assets (current)	3,220	2,832	10,565
Provision for risks and charges (current)	(5,230)	(5,815)	(9,101)
Other current liabiliXes	(30,641)	(21,870)	(20,011)
Current tax payables	(1,006)	(797)	(9,297)
Other net assets/liabili]es	(8,894)	446	(7,395)

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italy

Tel. +39 0732 6101 Fax +39 0732 610249 CerEfied e-mail elicaspa@sicurezzapostale.it SDI Code - Y1NM1XC

COMPANIES REGISTER NO. AND TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,644,560 FULLY PAID-IN