EuroGroup Laminations S.p.A. — Earnings Release 2024

Mar 24, 2025

THE BOARD OF DIRECTORS APPROVES FY2024 RESULTS AND THE NEW STRATEGIC PLAN

Revenues up (+4%) YoY, Adjusted EBITDA at € 116 million, net profit at € 37 million, proposed dividend distribution at € 0,042 per share

• Q4 2024 up YoY, with revenues of €220.3 million (+15% vs. Q4 2023) and adjusted EBITDA of €33.9 million (+3%), driven by the contribution of the EV & Automotive segment
• Consolidated revenues for 2024 amounted to € 869.4 million (+4% compared to € 835.9 million in 2023), supported by the strong growth of the EV & Automotive segment (+18% YoY)
• Adjusted EBITDA for 2024 stood at €116 million, in line with 2023, despite higher start-of-production and ramp-up costs incurred during the year
• Net profit for 2024 was €37 million (€39 million in 2023), after higher depreciation costs by € 11 million
• Net financial debt (post IFRS 16) as of December 31st 2024 amounted to €226 million (€111 million as of December 31, 2023), reflecting investments related to new EV & Automotive production lines, the acquisition of Kumar, and the completion of the share buyback
• Proposed dividend of € 0.042 per share, in line with 2023
• Solid EV traction order backlog¹ and pipeline, amounting to €5.3 billion and €4.8 billion, respectively
• 2025 Guidance: in a dynamic market context marked by volatility and new challenges, EGLA expects continued revenue growth and stable EBITDA, driven by the EV & Automotive segment and the development of the Indian market. The Group also anticipates positive Operating Free Cash Flow, supported by stabilized investments and the execution of working capital efficiency program.
  • Group revenues expected to grow by approximately 10% YoY
  • Adjusted EBITDA margin expected around 12%
  • Capex of approximately € 70 million, primarily allocated to completing the EV & Automotive growth plan
  • Positive Operating Free Cash Flow, driven by reduced investments and optimized net working capital
• To better reflect the evolving business landscape, effective January 1st, 2025, the EV & Automotive segment will be renamed "E-Mobility Solutions", encompassing the expanded range of technologies aimed at electrifying mobility. The Industrial segment will be renamed "Home & Industrial Solutions" to better represent its core end markets, including the new "Infrastructure Solutions" business, which will focus on the transformer sector, driven by the energy transition
• The Board of Directors has approved the Group's new 2025-2028 Strategic Plan, which outlines double-digit revenue growth and capital optimization, supported by more efficient investment allocation:
  • o Group revenues expected to grow with a CAGR of 10%-15% over the 2025-2028
  • o Average EBITDA margin over the period projected at approximately 13%
  • o Capex: average incidence between 4% and 5% of revenues

¹ Aggregated revenues expected from customer-awarded orders starting from February 2025 over the following 70 months.

EuroGroup Laminations S.p.A.

• o ROCE (Return on Capital Employed)² targeted between 15% and 20% by 2028
• o Positive operating free cash flow expected starting from 2025.
• Shareholders' Meeting convened for May 5, 2025 (single call)
• Proposal to authorize the purchase and disposal of treasury shares to be submitted to the Shareholders' meeting.

Baranzate (MI), March 24, 2025 – The Board of Directors of EuroGroup Laminations S.p.A.. ("EuroGroup" or the "Group" or the "Company" or "EGLA") – a world leader in the design, production, and distribution of stators and rotors for electric motors and generators – met today under the chairmanship of Sergio Iori and approved the preliminary consolidated financial results as of December 31 st , 2024.

Marco Arduini, CEO of EGLA, commented: "We are satisfied with the results achieved in 2024, a challenging year for the automotive sector and for the industrial segment in Europe. Our growth was made possible by the diversification of our markets and the development of the EV & Automotive segment in China, where we achieved a 138% YoY growth. We also recently strengthened our presence in the region by acquiring the minority stakes in our joint ventures with Marubeni-Itochu Steel. Asia continues to prove dynamic and offers the greatest growth opportunities. This is why in 2024 we entered the Indian market through the acquisition of Kumar, which will also allow us to expand into the transformer segment—further scalable thanks to commercial synergies with both customers and suppliers. The short-term outlook presents new challenges, with increasing demands for competitiveness from automakers. However, the demand for electrification—not only in the automotive sector—remains a growing and irreversible trend. In 2025, we are committed to executing a growth strategy which considers the market's rapid evolution, while remaining focused on cash generation and return on invested capital. The 2025-2028 Strategic Plan outlines a path of sustainable growth for the Group, continuing to seize opportunities in the most promising markets supported by the strategic initiatives launched in 2024."

€/000	2024	2023	Var %	Q4 2024	Q4 2023	Var %
Revenues	869,389	835,942	+4.0%	220,266	191,476	+14.9%
Adj. EBITDA	116,021	115,983	0.0%	33,937	32,790	+3-4%
EBITDA	110,287	114,057	(3.3%)	30,090	31,660	(5.9%)
EBIT	65,693	80,327	(18.2%)	17,245	21,238	(18.8%)

MAIN CONSOLIDATED FINANCIAL RESULTS AS OF DECEMBER 31, 2024

€/000	30/12/2024	31/12/2023
Net Financial Debt	225,5	110,8
Equity	501,2	459,2

In 2024, revenues amounted to €869.4 million, showing a slight increase compared to 2023 (€835.9 million). The result was driven by growth in the EV & Automotive segment, which more than offset the contraction in the Industrial segment.

² ROCE gross of taxes

Via Stella Rosa, 48 20021 Baranzate (MI) Italia | Tel +39 02 35000.1 | eglagroup.com | Cap. Soc. € 6.111.941,00 i.v. P.IVA, C.F. e N. Iscriz. Reg. delle Imprese di Milano | Monza Brianza Lodi 05235740965 | REA MI 1805877

Consolidated revenues by operating segment:

€/000	2024	2023	Var %	Q4 2024	Q4 2023	Var %
EV & Automotive	562,159	477,294	+17.8%	146,589	114,237	+28.3%
Industrial	307,230	358,648	(14.3%)	73,677	77,510	(4.9%)
Total Revenues	869,389	835,942	+4.0%	220,266	191,746	+14.9%

The EV & Automotive segment recorded revenues of €562.2 million in 2024, up 17.8% compared to 2023 (€477.3 million), primarily driven by increased production volumes on new projects, in line with the execution of the order backlog—confirming the Group's leadership in its target markets.

The Industrial segment recorded revenues of €307.2 million in 2024, compared to €358.6 million in 2023 (-14.3%). The revenue performance was mainly impacted by a decline in steel prices. In terms of volumes, lower consumption in Europe was offset by growth in the Asian region.

Consolidated revenues by geographic area:

€/000	2024	2023	Var %	Q4 2024	Q4 2023	Var %
EMEA	402,123	456,323	(11.9%)	91,521	83,534	+9.6%
of which Italy	393,646	449,111	(12.3%)	90,144	81,998	+9.9%
Nord America	336,839	328,245	+2.6%	85,553	89,535	(4.4%)
of which Mexico	285,402	273,617	+4.3%	74,238	75,901	(2.2%)
of which USA	51,437	54,628	(5.8%)	11,315	13,634	(17.0%)
Asia	130,427	51,374	+153.9%	43,192	18,677	+131.3%
of which China	122,306	51,374	+138.1%	35,071	18,677	+87.8%
of which India	81,21	-	n.a.	8,121	--	n.a.
Total Revenues	869,389	835,942	+4.0%	220,266	1917,46	+14.9%

Revenues in the EMEA area amounted to €402.1 million in 2024 (€456.3 million in 2023). down by 11.9%. mainly due to a slowdown in demand in the Industrial segment.

Revenues in North America in 2024 amounted to €336.8 million. up compared to €328.2 million in 2023 (+2.6%). thanks to increased sales in the EV & Automotive segment. In particular. revenues in Mexico amounted to €285.4 million (€273.6 million in 2023). up by 4.3%. The Industrial segment. on the other hand. saw a slight decline in sales. with revenues in the United States (entirely related to the Industrial segment) totaling €51.4 million (€54.6 million in 2023).

Revenues in the Asian region amounted to €130.4 million in 2024. up by 138.1% compared to 2023 (€51.4 million). with further acceleration recorded in the fourth quarter of 2024. This increase reflects the ramp-up of production for new projects in the EV & Automotive segment. Additionally. production began in Q4 for the Group's first Chinese OEM. in line with EuroGroup's growth strategy aimed at increasing market penetration—particularly among Chinese electric vehicle manufacturers. In this regard. it is worth noting that in early August 2024. EuroGroup signed a Memorandum of Understanding under which it is

negotiating a potential strategic partnership with Hixih Rubber Industry Group. a leading automotive components supplier in the Chinese market.

In 2024. adjusted EBITDA. excluding non-recurring costs³ . amounted to €116.0 million. in line with 2023.

Adjusted EBITDA for the EV & Automotive segment in 2024 amounted to € 79.8 million compared to € 72.3 million in 2023 (+10.5%). with an adjusted EBITDA Margin of 14.2%. down from 15.1% in 2023. due to higher start-of-production and ramp-ups costs incurred during the year.

Adjusted EBITDA for the Industrial segment in 2024 was € 36.2 million compared to € 43.7 million in 2023 (-17.2%). with an adjusted EBITDA Margin of 11.8%. compared to 12.2% in 2023. The impact of reduced production volumes on the adjusted EBITDA margin for the Industrial segment was mitigated by the Group's ability to manage activity fluctuations synergistically between the two business segments. while the pass-through mechanism offset the negative impact of raw material deflation on the top line.

In 2024 reported EBITDA amounted to € 110.3 million. compared to a reported EBITDA of € 114.1 million in the previous year.

EBIT in 2024 amounted to €65.7 million. compared to €80.3 million in 2023. The difference reflects higher depreciation and amortization charges (€44.6 million in 2024 vs. €33.8 million in 2023). due to the Group's Capex plan supporting growth in the EV & Automotive segment. which accounted for over 80% of total 2024 investments.

The balance of financial income and expenses was negative for €18.9 million (compared to €24.9 million negative in 2023). including a positive contribution of €6.1 million from net foreign exchange gains. and with actions aimed at optimizing the average cost of existing debt.

Net profit 2024 amounted to € 36.5 million (€ 38.6 million in 2023). as a result of the factors described above. and with a lower incidence of income taxes compared to 2023.

EV traction order Backlog and Pipeline: estimated at €5.3 billion and approximately €4.8 billion in pipeline as of February 28. 2025. respectively.

In 2024. Capex amounted to € 86.5 million (compared to € 95.8 million in 2023). in line with the Group's expansion plan in the EV & Automotive segment (more than 80% of total investments made supported the growth of the segment).

As of 31 December 2024. Net Working Capital amounted to € 232.7 million (€ 179.1 million as of 31 December 2023). with a trend mainly attributable to the increase in inventories required to support 10 production starts for new EV & Automotive projects launched during the year.

Net financial debt (post IFRS 16) as of December 31. 2024. was €225.5 million. compared to €110.8 million as of December 31. 2023. with a financial leverage of 2.1x versus 1.0x at the end of 2023. This trend is mainly due by operational investments supporting the expansion of production capacity in the EV & Automotive segment.

Excluding the effects of the buyback transactions carried out in the first half of 2024. the dividend payment related to the 2023 fiscal year. and the acquisition of Kumar. net financial

³ Non-recurring costs includes M&A costs, IT costs, and severance payments.

Via Stella Rosa, 48 20021 Baranzate (MI) Italia | Tel +39 02 35000.1 | eglagroup.com | Cap. Soc. € 6.111.941,00 i.v. P.IVA, C.F. e N. Iscriz. Reg. delle Imprese di Milano | Monza Brianza Lodi 05235740965 | REA MI 1805877

debt would amount to approximately €178.3 million. of which €48 million is related to IFRS 16 impacts.

OUTLOOK AND GUIDANCE 2025

2025 began in a global geopolitical backdrop still marked by ongoing conflicts in Ukraine and the Middle East. compounded by uncertainties surrounding economic policies and international relations stemming from the new US administration and the position the European Union will take in response.

This context is prolonging a period of economic uncertainty. now accompanied by renewed fears of inflation and recession fears. which have driven significant volatility in financial markets during the first months of the year. As a result. major economic institutions have issued cautious forecasts for the US and European economies in 2025

EV & Automotive Market

Leading industry analysts widely acknowledge that 2025 is shaping up to be a highly challenging year for the automotive industry overall.

According to the latest forecasts from S&P Global Mobility4. global production of new light vehicles in 2025 is expected to remain broadly stable at 89 million units. representing a 0.4% decline compared to 2024. This is due to a slowdown across all major key markets. with the sharpest contractions expected in Europe. followed by the US. China. by contrast. is expected to see modest growth. gaining ground on Western markets.

Focusing instead on the e-mobility market. global production of electric vehicles or EVs (BEV+PHEV). will see significant growth in 2025. with an estimated increase in production of 23% compared to 2024.

China remains the leading market for electric mobility. with expected production in 2025 (more than 14 million BEVs and PHEVs produced) growing by 21% compared to 2024 and covering more than 70% of BEVs and PHEVs produced globally.

In Europe. the industry's second largest market. the expected production growth in 2025 is high. at more than 30 per cent. or around 3.7 million vehicles produced between BEVs and PHEVs. After a contraction in 2024. the EU's confirmation of the ban on internal combustion vehicle sales by 2035. albeit with greater flexibility granted in early March 2025 by the EU to automakers in adapting to the new standards—constitutes a fundamental policy direction for the production of electric vehicles. Automakers will also have to contend with a more competitive market due to Chinese competition in the European market. It should be noted that the EU decision also includes the allocation of new investments to improve charging infrastructure and to stimulate battery production in Europe. both of which are essential to support sustainable sales growth.

In the USA. a market that is less developed than Europe today and therefore with greater potential. the expected growth in BEV and PHEV production in 2025 is +26% or about 1.7 million cars produced. although uncertainties remain stemming from the announcements made by the new Trump administration regarding measures aimed at reducing or eliminating incentives for the consumption and production of electric vehicles.

⁴ Source: S&P Global Mobility, Production based Powertrain Forecast, February 2025

EuroGroup Laminations S.p.A.

Via Stella Rosa, 48 20021 Baranzate (MI) Italia | Tel +39 02 35000.1 | eglagroup.com | Cap. Soc. € 6.111.941,00 i.v. P.IVA, C.F. e N. Iscriz. Reg. delle Imprese di Milano | Monza Brianza Lodi 05235740965 | REA MI 1805877

In light of the reference scenario described. and taking into account the high level of market uncertainty. the Company estimates that it can achieve revenue growth of approximately 10% in 2025. with an adjusted EBITDA margin of around 12%.

With a gradual reduction in capital expenditure planned from 2025 onwards —estimated for the year at approximately €70 million—and careful management of working capital. the Company also expects positive cash generation from operating activities (Operating Free Cash Flow) in 2025.

NEW STRATEGIC PLAN 2025-2028 APPROVED

The Board of Directors has approved the 2025–2028 Strategic Plan. which foresees double-digit revenue growth and optimization of invested capital. driven by a reduction in required investments and a focus on working capital efficiency.

The medium-term guidance includes:

• Revenues expected to grow at a CAGR of between 10% and 15% over 2025–2028
• Average EBITDA margin over the 2025–2028 period of approximately 13%
• Capex intensity⁵ averaging between 4% and 5%
• ROCE (Return on Capital Employed)6 between 15% and 20% by 2028
• Positive operating free cash flow starting in 2025

OTHER RESOLUTIONS

APPROVAL OF THE 2024 SEPARATE FINANCIAL STATEMENTS OF EUROGROUP LAMINATIONS S.P.A.

In 2024. EuroGroup Laminations S.p.A. reported revenues of €13.7 million. compared to €9.8 million in the previous year.

Net profit for the year amounted to €7.4 million. up from €4.6 million in 2022.

PROPOSED DISTRIBUTION OF NET PROFIT

For the financial year ended December 31. 2024. the Board of Directors resolved to propose to the Shareholders' Meeting the distribution of a dividend of €0.042 per each share entitled to dividends (excluding treasury shares held by the Company). for a total amount of approximately €6.8 million. It is noted that any change in the number of treasury shares held by the Company at the time of distribution will not affect the unit dividend amount as stated above. but will result in a corresponding increase or decrease in the amount allocated to retained earnings.

The dividend will be proposed for payment on 21 May 2025 (ex-dividend date 19 May 2025 and record date 20 May 2025).

Resolved to submit to the Shareholders' Meeting. in an ordinary session. a proposal to authorize the purchase and disposal of treasury shares in order to provide the Company with a tool for strategic

⁵ Capex on Revenue ⁶ ROCE gross of taxes

EuroGroup Laminations S.p.A.

flexibility. to be used in full compliance with applicable European and national regulations. as well as in accordance with market practices permitted from time to time. for the following purposes: (i) to carry out extraordinary corporate or financial transactions. including. by way of example but not limited to. acquisitions. mergers. capital transactions. exchanges. contributions. swaps. financing operations. or other transactions where the assignment or other disposal of treasury shares is necessary or appropriate; (ii) to fulfill obligations arising from stock option plans. stock grants. or other existing or future incentive programs. whether for consideration or free of charge. in favor of company representatives. employees. or collaborators of the Company or its subsidiaries; (iii) to support the liquidity of the Company's shares.

The manager in charge of preparing the company's financial reports. Matteo Perna. declares. pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance. that the accounting information contained in this press release corresponds to the state of the documented results. books and accounting records.

***

***

The economic. financial and asset-related information has been prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") and endorsed by the European Union.

In this document. in addition to the financial aggregates provided for by International Financial Reporting Standards (IFRS). certain aggregates derived from the latter are presented even though they are not provided for by IFRS (Non-GAAP Measures) in line with the ESMA guidelines on Alternative Performance Indicators (Guidelines ESMA/2015/1415. adopted by Consob with Communication no. 92543 of 3 December 2015) published on 5 October 2015. These metrics are presented in order to allow for a better assessment of the Group's performance and should not be considered as alternatives to those provided for by IFRS.

This document contains forward-looking statements relating to future events and future operating. economic and financial results of EuroGroup Laminations. These forecasts have. by their nature. a component of risk and uncertainty because they depend on the occurrence of future events and developments. Actual results may therefore differ materially from those disclosed due to a variety of factors. most of which are beyond the control of EuroGroup Laminations.

***

ATTACHMENTS: Attached to this press release are the consolidated and separate financial statements as of December 31. 2024. including the Statement of Financial Position. the Income Statement. and the Cash Flow Statement.

***

*** This press release is available on the Group's website https://euro- group.it. section Investors/Press Releases and on the authorised storage system ().

***

EuroGroup Laminations S.p.A.

The presentation summarizing the 2024 results will be made available at https://euro-group.it. in the Investor Relations/Presentations section. in support of the call with financial analysts and investors scheduled for tomorrow. 15 March 2025. at 11:00 am.

FOR FURTHER INFORMATION

EUROGROUP LAMINATIONS – INVESTOR RELATIONS Ilaria Candotti | Head of Investor Relations | ir@eglagroup.com PRESS OFFICE | COMMUNITY – COMMUNICATION ADVISORS

Giulia Polvara | giulia.polvara@community.it | T. +39 334 2823 514 Valeria Longo | valeria.longo@community.it | T. +39 351 1410 677

ABOUT EGLA

EuroGroup Laminations is a world leader in the design. production and distribution of Laminations and Cores for E-Motors. Generators. Transformers. The Group's business is organized along two segments: (i) EV & AUTOMOTIVE. which designs and produces the motor core of electric motors used in electric vehicle traction. as well as a wide range of non-traction automotive applications; and (ii) HOME & INDUSTRIAL SOLUTIONS. which designs and manufactures products used in various applications including among others industrial applications. home automation. HVAC equipment. wind energy. logistics and pumps. With registered office in Baranzate (MI). EuroGroup Laminations recorded revenues of approximately € 869 million in 2024. currently has a workforce of approximately 3.800 employees. 8 production plants in Italy and 7 abroad (2 in Mexico. 2 in China. 1 in the United States. 1 in India and 1 in Tunisia) and an Order Book for the EV & AUTOMOTIVE segment with an estimated value of approximately € 5.3 billion. and a pipeline of orders under discussion at approximately €4.8 billion.

Consolidated Statement of Financial Position as of 31 December 2024

(Amounts in thousands of Euro)	31 December 2024	of which with related parties	31 December 2023	of which with related parties
Goodwill	28.420		10.543
Intangible assets	14.752		7.517
Tangible assets	352.081		269.341
Rights of use	57.959	27.800	61.122	29.706
Non-current financial assets and receivables	1.942		3.649
Deferred tax assets	16.073		20.810
Other non-current assets	1.636		2.241
Total non-current assets	472.863		375.223
Inventories	375.391		357.044
Trade receivables	144.237	38	117.544	150
Cash and cash equivalents	187.223		204.836
Other current assets and receivables	70.923		66.710
Current financial assets and receivables	53.995		50.736
Tax receivables	9.181		3.188
Total current assets	840.950		800.058
Assets held for sale	2.449		-
TOTAL ASSETS	1.316.262		1.175.281
Share capital	6.112		6.112
Share premium reserve	270.288		270.288
Other reserves	(8.905)		(4.016)
Retained earnings	176.037		151.966
Total Group's equity	443.532		424.350
Total equity of third parties	57.682		34.837
Total equity	501.214		459.187
Non-current financial liabilities	232.428		167.589
Non-current financial liabilities from rights of use	40.293	24.894	40.117	26.888
Employee benefits	4.667	104	4.657	119
Provisions for risks and charges	173		637
Deferred tax liabilities	23.133		17.811
Other non-current liabilities	7.375		6.802
Total non-current liabilities	308.069		237.613
Current financial liabilities	186.108		147.303
Current financial liabilities from rights of use	7.717	3.810	11.178	3.518
Trade payables	286.923		295.448	1.448
Tax liabilities	460		999
Other current liabilities	25.771	983	23.553	586
Total current liabilities	506.979		478.481
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1.316.262		1.175.281

EuroGroup Laminations S.p.A.

Consolidated Income Statement as of 31 December 2024

(Amounts in thousands of Euro)	31 December 2024	of which with related parties	31 December 2023	of which with related parties
Revenues	869.389	322	835.942	289
Other revenues and income	6.652		4.006
Changes in inventories of finished and semi-finished products	16.143		24.436
Raw material costs	(554.937)		(545.895)
Costs for services	(108.389)	(3.024)	(94.596)	(3.034)
Personnel costs	(119.049)	(4.279)	(107.821)	(3.280)
Other operating expenses	(2.031)	(18)	(2.015)	(1)
Reinstatement of non-current assets value	2.509		-
Depreciation and amortisation of non current assets	(44.594)	(3.905)	(33.730)	(4.547)
Operating profit	65.693		80.327
Financial expenses	(31.344)	(574)	(24.199)	(716)
Financial income	6.394		5.746	12
Exchange gains (losses)	6.060		(6.432)
Profit before tax	46.803		55.442
Taxes	(10.268)		(16.834)
Profit for the year	36.535		38.608
Profit attributable to the Group	31.137		34.057
Profit attributable to third parties	5.398		4.551
Earnings per share	0.19		0.21

EuroGroup Laminations S.p.A.

Consolidated Cash Flow Statement as of 31 December 2024

(Amounts in thousands of Euro)	31 December 2024	31 December 2023
Profit for the year	36.535	38.608
Income taxes	10.268	16.834
Depreciation and amortisation of non-current assets	44.594	33.730
Difference between pension contributions paid and pension charges	365	(500)
Financial income	(6.394)	(5.746)
Financial expenses	31.344	24.199
Capital (gains)/losses from the disposal of non-current assets	(89)	(71)
Net changes in provisions for risks and charges	(2)	(275)
Provision for bad debts	457	702
Inventory write-down	1.286	1.100
Share-based compensation expenses	874	273
Reinstatement of assets value	(2.449)	-
Cash flow before changes in Net Working Capital	116.789	108.854
(Increase)/decrease in trade receivables	(21.795)	35.225
(Increase)/decrease in inventories	(11.420)	(20.016)
Increase/(decrease) in trade payables	(12.585)	(46.002)
Increase/(decrease) in tax payables	(8.276)	5.162
(Increase)/decrease in other receivables	6.728	(14.936)
Increase/(decrease) in other payables	972	(1.154)
Cash flow after changes in Net Working Capital	66.963	67.133
Income taxes paid	(9.364)	(19.879)
Cash flow from operating activities (A)	60.599	47.254
(Investments) in tangible assets	(85.073)	(94.245)
Realization price. or reimbursement value. of tangible assets	236	300
(Investments) in intangible assets	(1.414)	(1.576)
(Investments)/disinvestments in current financial assets	(2.156)	(50.603)
(Investments)/disinvestments in other medium or long-term assets	(2.993)	(945)
Business combination	(13.896)	(2.041)
Interest collected	5.138	(5.669)
Dividends received	33	43
Cash flow from investing activities (B)	(100.125)	(153.398)
Equity increase	-	243.750
Purchase of treasury shares	(10.873)	(6.511)
New bank loans and other lenders	121.947	37.442
Repayment of bank loans and other lenders	(51.308)	(32.773)
Increase in current financial liabilities	51.069	32.951
Repayment of current financial liabilities	(39.478)	(57.605)
Collection of financial receivables	-	6.641
Repayments of financial liabilities arising from rights of use	(12.515)	(10.821)
Dividends paid	(8.085)	(1.002)
Interest paid	(24.432)	(20.834)

Via Stella Rosa, 48 20021 Baranzate (MI) Italia | Tel +39 02 35000.1 | eglagroup.com | Cap. Soc. € 6.111.941,00 i.v. P.IVA, C.F. e N. Iscriz. Reg. delle Imprese di Milano | Monza Brianza Lodi 05235740965 | REA MI 1805877

Cash flow from financing activities (C)	26.325	191.238
Increase (decrease) in cash and cash equivalents (A+B+C)	(13.201)	85.094
Cash and cash equivalents at the beginning of the year	204.836	116.503
Effect of changes in exchange rates	(4.412)	3.239
Cash and cash equivalents at the end of the year	187.223	204.836

EuroGroup Laminations S.p.A.

Statement of Financial Position as of 31 December 2024 EUROGROUP LAMINATIONS S.P.A.

(Amounts in Euro)	31 December 2024	of which with related parties	31 December 2023	of which with related parties
Intangible assets	316.410		645.154
Tangible assets	153.275		191.422
Rights of use	210.332		205.134
Equity Investments	100.209.258	100.209.258	78.775.356	78.775.356
Non-current financial assets and receivables	115.072.929	113.908.744	82.261.985	80.915.960
Deferred tax assets	308.226		553.548
Total non-current assets	216.270.430		162.632.599
Current financial assets and receivables	107.841.479	76.734.747	90.233.919	49.355.521
Trade receivables	18.145.948	18.145.948	3.991.809	3.991.809
Cash and cash equivalents	67.979.756		54.670.240
Other current assets and receivables	2.842.260	61.793	2.547.936
Tax receivables	662.556		312.362
Total current assets	197.471.999		151.756.266
TOTAL ASSETS	413.742.429		314.388.865
Share capital	6.111.941		6.111.941
Share premium reserve	270.288.072		270.288.072
Other reserves	(16.689.916)		(6.770.069)
Retained earnings	23.048.051		22.694.455
Total equity	282.758.148		292.324.399
Non-current financial liabilities	106.050.284		14.158.824
Employee benefits	717.295	10.824	660.083	30.893
Provisions for risks and charges			415.554
Deferred tax liabilities	220		2.419
Non-current financial liabilities from rights of use	130.972		148.349
Total non-current liabilities	106.898.771		15.385.229
Current financial liabilities	14.331.334		1.242.801
Trade payables	8.035.370	2.065.421	2.848.187	552.024
Tax liabilities			98.144
Other current liabilities	1.642.220	384.325	2.433.832	362.621
Current financial liabilities from rights of use	76.586		56.273
Total current liabilities	24.085.510		6.679.237
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	413.742.429		314.388.865

Income Statement as of 31 December 2024 EUROGROUP LAMINATIONS S.P.A.

(Amounts in Euro)	31 December 2024	of which with related parties	31 December 2023	of which with related parties
Revenues	13.736.208	13.722.652	9.756.344	9.756.344
Other revenues and income	48.030	10.000	242.394
Costs for services	(11.836.315)	(2.142.074)	(5.885.374)	(1.704.650)
Personnel costs	(5.886.429)	(1.235.550)	(5.000.346)	(1.621.170)
Other operating expenses	(227.887)	(1.248)	(67.827)
Depreciation and amortisation of non current assets	(527.023)		(231.031)
Operating profit	(4.693.416)		(1.185.840)
Financial expenses	(6.072.186)	236.865	(1.064.866)	(369.650)
Financial income	13.513.951	9.628.401	9.174.477	5.192.715
Exchange gains (losses)	4.465.174	4.464.867	(1.887.348)	(1.873.896)
Profit before tax	7.213.523		5.036.423
Taxes	206.259		(445.096)
Profit for the year	7.419.782		4.591.327

Cash Flow Statement as of 31 December 2024 EUROGROUP LAMINATIONS S.P.A.

(Amounts in Euro)	31 December 2024	31 December 2023
Profit for the year	7.419.782	4.591.327
Income taxes	(206.259)	445.096
Depreciation and amortisation of non-current assets	527.023	231.031
Difference between pension contributions paid and pension charges	69.897	(107.416)
Financial income	(13.513.951)	(9.174.477)
Financial expenses	6.057.686	948.866
(Income)/expenses from investments	14.500	116.000
Capital (gains)/losses from the disposal of non-current assets	(10.000)	-
Net changes in provisions for risks and charges	(62.065)	16.610
Share-based compensation expenses	634.505	272.857
Cash flow before changes in Net Working Capital	931.118	(2.660.106)
(Increase)/decrease in trade receivables	(13.953.872)	7.890.748
Increase/(decrease) in trade payables	5.187.183	(10.226.507)
Increase/(decrease) in tax payables	(200.569)	(625.681)
(Increase)/decrease in other receivables	(284.633)	1.314.167
Increase/(decrease) in other payables	(791.611)	(306.583)
Cash flow after changes in Net Working Capital	(9.112.384)	(4.613.962)
Income taxes paid	(166.198)	(720.942)
Cash flow from operating activities (A)	(9.278.582)	(5.334.904)
(Investments) in tangible assets	(7.055)	(184.967)
Realization price. or reimbursement value. of tangible assets	10.000	-
(Investments) in intangible assets	(269.932)	(628.960)
(Investments) in owned companies	(19.916.676)	(16.284.838)
(Investments)/disinvestments in current financial assets	10.000.000	(40.878.398)
Interest collected	5.715.260	4.087.124
Dividends received	2.116.550	1.134.044
Cash flow from investing activities (B)	(2.351.853)	(52.755.995)
Equity increase	-	243.749.998
Purchase of treasury shares	(10.872.817)	(6.511.070)
Financing to Group companies and positions to members of the centralized treasury system	(51.764.828)	(137.212.929)
New bank loans and other lenders	105.000.024	206.903
Repayment of bank loans and other lenders	(1.364.918)	(460.544)
Collection of loan from parent company	-	5.684.000
Repayments of financial liabilities arising from rights of use	(85.037)	(33.022)
Dividends paid	(6.836.618)	-
Interest paid	(4.675.557)	(1.184.253)
Cash flow from financing activities (C)	29.400.249	104.239.083
Increase (decrease) in cash and cash equivalents (A+B+C)	17.769.814	46.148.184
Cash and cash equivalents at the beginning of the year	54.670.240	8.522.056
Effect of changes in exchange rates	(4.460.298)	-
Cash and cash equivalents at the end of the year	67.979.756	54.670.240