THE BOARD OF DIRECTORS APPROVES Q1 2025 FINANCIAL RESULTS

Group revenues of €221.1 million (+7.3% compared to €206.1 million in Q1 2024) driven by growth in the Asian region

E-mobility solutions revenues at €135.9 million (+6.1% vs Q1 2024)
Home & Industrial solutions revenues at €85.2 million (+9.3% vs Q1 2024), thanks to the contribution of Indian company Kumar Precision Stampings Private Limited, acquired in November 2024
Adjusted Group EBITDA at €23.5 million (€24.4 million in Q1 2024)
EBIT at €9.0 million (€15.2 million in Q1 2024) on higher D&A costs by € 4.6 million, in line with the execution of the investment plan to support the growth of the E-mobility segment
Net result negative by €2.1 million (positive by €8.3 million in Q1 2024), reflecting the negative impact of unrealized forex exchange losses equal to € 5.9 million (positive unrealized forex exchange gains equal to € 2.1 million in Q1 2024)
Net Financial Position (post IFRS 16) equal to €286.8 million as of March 31, 2025 (€225.5 million as of December 31, 2024), in line with the seasonality of the business and including the payment for the acquisition of 30% of the Chinese JVs (amounting to €12.7 million)
EV order backlog and Pipeline¹ as of April 30, 2025 amounting to €5.2 billion and € 3.2 billion, respectively
FY 2025 and medium-term guidance confirmed

Baranzate (MI), May 19, 2025 – The Board of Directors of EuroGroup Laminations S.p.A. ("EuroGroup Laminations", "EGLA" or the "Company") – a world leader in the design, production and distribution of Laminations and Cores for E-Motors, Generators, Transformers – has today reviewed and approved the consolidated results as of March 31, 2025 (unaudited).

Marco Arduini, Chief Executive officer of EuroGroup Laminations, commented: "First quarter results confirm the validity of our business model and the Group's ability to continue growing in a turbulent market environment, thanks to diversification and the strength of the macro trend of electrification. The growth recorded in Asia has been significant, driven by the continuous development of sales in China and the consolidation of India's Kumar Precision Stampings Private Limited. We remain focused on the execution of our strategic plan, with the goal of continuing to grow, strengthening our technological leadership, and enhance competitiveness across all markets".

Thousands of Euro	Q1 2025	Q1 2024	% change
Revenues	221,118	206,058	+7.3%
Adjusted EBITDA	23,526	24,390	(3.5%)
EBIT	8,964	15,183	(41.0%)
Profit (Loss) for the period	(2,081)	8,252	(125.2%)

KEY CONSOLIDATED ECONOMIC AND FINANCIAL RESULTS AS OF MARCH 31, 2025

Thousands of Euro	31.03.2025	31.12.2024	% change
Net financial debt	286,790	225,521	+27.2%
Equity	481,804	501,214	(3.9%)

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

In the first quarter of 2025, the Group recorded revenues of €221.1 million, up 7.3% compared to the first quarter of 2024 (€206.1 million). The result was driven by growth in the E-mobility segment (+9.3%) and by the contribution of the Indian company Kumar Precision Stampings Private Limited, which accounted for €15.7 million. This more than offset the revenue contraction in the Home & Industrial segment in Europe and the United States, due to deflationary pricing dynamics and weaker demand, as well as the seasonal nature of sales, which are typically lower in the early months of the year.

Consolidated results by operating segments

Thousands of Euro	Q1 2025	Q1 2024	% change
E-mobility solutions	135,907	128,091	+6.1%
Home & Industrial solutions	85,211	77,967	+9.3%
Total Revenues	221,118	206,058	+7.3%

In the first quarter of 2025, the E-mobility solutions segment recorded revenues of €135.9 million, up 6.1% compared to the first quarter of 2024 (€128.1 million), driven by increased production volumes and the launch of two new projects in Mexico, in line with the execution of the order backlog.

In the first three months of the year, the Home & Industrial segment posted revenues of €85.2 million, compared to €78.0 million in the first quarter of 2024. The Indian company Kumar Precision Stampings Private Limited, acquired in November 2024, contributed €15.7 million, more than offsetting the revenue contraction observed particularly in Europe and, to a lesser extent, in the United States, due to deflationary effects on steel prices and weaker consumption in an especially uncertain macroeconomic environment.

Thousands of Euro	Q1 2025	Q1 2024	Var %
EMEA	101,333	110,130	(8.0%)
of which in Italy	98,900	107,345	(7.9%)
North America	72,602	73,144	(0.7%)
of which in Mexico	62,338	59,307	+5.1%
of which in the USA	10,264	13,837	(25.8%)
Asia	47,183	22,784	+107.1%
of which in China	31,450	22,784	+38.0%
of which inIndia	15,733	-	n.d.
Total Revenues	221,118	206,058	+7.3%

Consolidated revenues by region:

Revenues in the EMEA region amounted to €101.3 million (€110.1 million in Q1 2024), down 8.0%, with the decrease mainly attributable to the Home & Industrial segment.

Revenues in North America totaled €72.6 million, broadly in line with the €73.1 million recorded in Q1 2024. Growth in Mexico - primarily driven by the E-mobility segment - was +5.1% and more than offset lower volumes recorded in the United States, entirely related to the Home & Industrial segment.

2 EuroGroup Laminations S.p.A.

Revenues in the Asian region continued to drive growth, with a 38% increase in China, including in the Home & Industrial segment, supported by the contribution of the newly acquired subsidiary Kumar Precision Stampings Private Limited, which recorded revenues of €15.7 million in the quarter.

In the first quarter of 2025, adjusted EBITDA – which excludes non-recurring costs of € 0.9 million² amounted to €23.5 million, compared to €24.4 million in the same period of the previous year. The Adjusted EBITDA margin stood at 10.6%, compared to 11.8% in Q1 2024.

o Adjusted EBITDA for the E-mobility segment amounted to €15.0 million, compared to €15.2 million in the first quarter of 2024, with an Adjusted EBITDA margin of 11.0%, down from 11.9% in Q1 2024
o Adjusted EBITDA for the Home & Industrial segment amounted to €8.6 million (€9.1 million in Q1 2024), with an Adjusted EBITDA margin of 10.0%, compared to 11.7% in Q1 2024. This decrease is mainly attributable to lower production volumes as well as to the contribution recorded in Q1 2024 from the "New Market Tax Credit" granted to the U.S. subsidiary Eurotranciatura USA, amounting to €1.6 million.

In the first quarter of 2025, reported EBITDA amounted to €22.6 million, compared to €24.2 million in the first quarter of 2024.

EBIT for the first quarter of 2025 amounted to €9.0 million (€15.2 million in Q1 2024), reflecting higher amortization expenses of €13.6 million, compared to €9.0 million in the first quarter of 2024. The increase is linked to investments made in previous months in line with the Group's plan to support the growth of the E-mobility solutions segment, which is expected to be completed over the course of 2025.

The Net result for the first quarter of 2025 was a loss of €2.1 million (vs. a net profit of €8.3 million in Q1 2024), reflecting the negative impact of foreign exchange unrealized losses of € 5.9 million, compared to a positive impact of foreign exchange unrealized gains of € 2.1 million driven by the euro/US dollar exchange rate movements during the period.

Order backlog and Pipeline: As of the end of April 2025, the order backlog for the E-mobility segment stands at €5.2 billion, in line with the Orderbook as of February 2025 (€ 5.3 bn) and the pipeline is valued at approximately €3.2 billion.

Financial Position

In the first quarter of 2025, net investments (CAPEX) amounted to €26.5 million, up from €22.1 million in the same period of the previous year, in support of the Group's expansion plans. Approximately 80% of total investments were related to the E-mobility solutions segment.

As of March 31, 2025, net trade working capital amounted to €290.1 million (€232.7 million as of December 31, 2024), with the increase mainly driven by higher inventory levels required to support ten production ramp-ups for E-mobility solutions projects across all geographies expected by yearend, including two already launched in early 2025 in Mexico.

Net financial debt (post IFRS 16³ ) as of March 31, 2025, amounted to €286.8 million (€225.5 million as of December 31, 2024) with a financial leverage ratio4 of 2.5x (compared to 1.9x as of December 31, 2024). The increase is mainly attributable to the seasonal absorption of working capital and operating investments to support the expansion of production capacity in the E-mobility solutions segment. Excluding the effects of the €12.7 million payment to Marubeni-Itochu Steel Inc. for the

² Non-recurring costs recorded in Q1 2025 amounted to €0.9 million, of which €0.45 million related to the E-mobility segment and €0.45 million to the Home & Industrial segment. These costs mainly refer to consultancy services in the areas of IT and business development.

³ IFRS16 impact of €46 million as of 31 March 2025

⁴ Net Financial position/Adjusted EBITDA.

³ EuroGroup Laminations S.p.A.

acquisition of 30% of the Chinese JVs, as well as dividends distributed by subsidiaries, net financial debt at quarter-end would have been approximately €273.9 million.

SIGNIFICANT EVENTS DURING THE PERIOD

On March 10, 2025, the subsidiary Euro Group Asia Limited ("EGLA Asia") signed an agreement to acquire the minority interests held by partner Marubeni-Itochu Steel Inc. ("MISI") in the joint ventures Euro Misi High-tech Jiaxing Co. Ltd. and Euro Misi Laminations Jiaxing Co. Ltd., corresponding to 31% of the share capital of each company.

The transaction, aimed at consolidating the two Chinese joint ventures as part of the Group's strategic strengthening in the region, involved the acquisition by EGLA Asia from MISI of a 30% stake in each joint venture for a total consideration of RMB 100 million (approximately €12.7 million). The remaining 1% interest in both companies will be subject to reciprocal call and put options between Marubeni and EGLA Asia, exercisable at market value within four years following the closing of the transaction. The transaction was completed in the first quarter of 2025. The total expenditure was entirely financed through the use of the Group's cash reserves and was not subject to adjustment.

OUTLOOK

In light of the trends observed in the dynamics of the two business segments in the first quarter, assuming a stabilization of the geopolitical landscape and trade relations in the second part of the year, the Company confirms its 2025 guidance, which includes revenue growth of approximately 10% and an Adjusted EBITDA margin of around 12%. Planned investments for 2025 are also confirmed at approximately €70 million. The Company also expects to generate positive operating free cash flow in 2025.

The Company also confirms its medium-term guidance, which includes:

Revenue growth with a CAGR between 10% and 15% over the 2025-2028 period
Average EBITDA margin of approximately 13% between 2025 and 2028
Capex intensity⁵ averaging between 4% and 5%
ROCE (Return on Capital Employed)⁶ between 15% and 20% in 2028
Positive operating free cash flow from2025

***

The manager responsible for preparing the Company's financial reports, Matteo Perna, hereby declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance (Testo Unico della Finanza), that the accounting information contained in this press release corresponds to the documentary evidence, books, and accounting records.

The economic, financial and equity 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 metrics required under IFRS, certain alternative performance indicators (Non-GAAP Measures) derived from IFRS figures—though not defined by IFRS—are also presented. These are provided in line with ESMA guidelines on Alternative Performance Measures (ESMA/2015/1415, adopted by CONSOB through Communication no. 92543 of December 3, 2015, and published on October 5, 2015).

These indicators are presented solely to facilitate a better understanding of the Group's performance and should not be considered as a substitute for IFRS measures. ***

⁵ Capex on Revenue

⁶ ROCE gross of taxes

This document contains forward-looking statements relating to future events and the future operational, economic, and financial performance of EuroGroup Laminations. These statements are inherently subject to risks and uncertainties, as they depend on the occurrence of future events and developments.

As a result, actual results may differ—also materially—from those expressed or implied in such forward-looking statements due to a wide range of factors, most of which are beyond the control of EuroGroup Laminations.

ATTACHMENTS: The consolidated financial statements—Statement of Financial Position, Income Statement, and Cash Flow Statement—as of March 31, 2025 (unaudited) are attached to this press release.

***

*** This press release is available on the Group's website at https://eglagroup.com, in the Investors/Press Releases section, and on the authorized storage mechanism (). ***

The presentation summarizing the first quarter 2025 results will be made available on the website www.eglagroup.com, in the Investor Relations section, in support of the conference call with financial analysts and investors scheduled for tomorrow, May 20, 2025, at 11:00 a.m. CET.

FOR FURTHER INFORMATION

EUROGROUP LAMINATIONS – INVESTOR RELATIONS Ilaria Candotti | Head of Investor Relations | [email protected]

PRESS OFFICE | COMMUNITY – COMMUNICATION ADVISORS

Giulia Polvara | [email protected] | T. +39 334 2823 514 Valeria Longo | [email protected] | T. +39 351 1410 677

ABOUT EGLA: EuroGroup Laminations is world leader in the design, production and distribution of Laminations and Cores for E-Motors Generators. The Group's business is organized along two segments: (i) E-mobility solutions, dedicated to the design and productions of 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, dedicated to the design and manufacturing of products used in various applications including, among others, industrial applications, home automation, HVAC equipment, wind energy, logistics and pumps. EGLA is also active in the business of transformers. With registered office in Baranzate (MI) EuroGroup Laminations recorded revenues of approximately € 869 million in 2024, 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); an Order Book for the E-mobility solutions 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 March 2025

(Amounts in thousands of Euro)	31 March 2025	31 December 2024
Goodwill	28,420	28,420
Intangible assets	14,529	14,752
Tangible assets	361,545	352,081
Rights of use	54,179	57,959
Non-current financial assets and
receivables	1,934	1,942
Deferred tax assets	16,655	16,073
Other non-current assets	1,618	1,636
Total non-current assets	478,880	472,863
Inventories	393,216	375,391
Trade receivables	172,060	144,237
Cash and cash equivalents	148,670	187,223
Other current assets and receivables	61,257	70,923
Current financial assets and receivables	42,772	53,995
Tax receivables	7,595	9,181
Total current assets	825,570	840,950
Assets held for sale	-	2,449
TOTAL ASSETS	1,304,450	1,316,262
Share capital	6,112	6,112
Share premium reserve	270,288	270,288
Other reserves	(12,850)	(8,905)
Retained earnings	170,778	176,037
Total Group's equity	434,328	443,532
Total equity of third parties	47,476	57,682
Total equity	481,804	501,214
Non-current financial liabilities	251,394	232,428
Non-current financial liabilities from rights of use	38,274	40,293
Employee benefits	4,459	4,667
Provisions for risks and charges	173	173
Deferred tax liabilities	22,574	23,133
Other non-current liabilities	12,824	7,375
Total non-current liabilities	329,698	308,069
Current financial liabilities	181,129	186,108

Current financial liabilities from rights of use	7,435	7,717
Trade payables	275,169	286,923
Tax liabilities	1,975	460
Other current liabilities	27,240	25,771
Total current liabilities	492,948	506,979
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	1,304,450	1,316,262

Consolidated Income Statement as of 31 March 2025

(Amounts in thousands of Euro)	31 March 2025	31 March 2024
Revenues	221,118	206,058
Other revenues and income	1,361	1,913
Changes in inventories of finished and semi-finished products	4,878	(3,653)
Raw material costs	(145,222)	(124,727)
Costs for services	(27,766)	(25,175)
Personnel costs	(31,348)	(29,756)
Other operating expenses	(426)	(490)
Depreciation and amortisation of non current assets	(13,631)	(8,987)
Operating profit	8,964	15,183
Financial expenses	(6,049)	(6,732)
Financial income	1,383	1,338
Exchange gains (losses)	(5,910)	2,084
Profit (loss) before tax	(1,612)	11,873
Taxes	(469)	(3,621)
Profit (loss) for the period	(2,081)	8,252
Profit (loss) attributable to the Group	(2,388)	7,815
Profit (loss) attributable to third parties	307	437
Earnings (loss) per share	(0.01)	0.05

Consolidated Cash Flow Statement as of 31 March 2025

(Amounts in thousands of Euro)	31 March 2025	31 March 2024
Profit/(Loss) for the period	(2,081)	8,252
Income taxes	469	3,621
Depreciation and amortisation of non-current assets	13,631	8,987
Difference between pension contributions paid and pension charges	31	153
Financial income	(1,383)	(1,338)
Financial expenses	6,049	6,732
Capital (gains)/losses from the disposal of non-current assets	(442)	(41)
Net changes in provisions for risks and charges	-	16
Provision for bad debts	344	144
Inventory write-down	(523)	883
Share-based compensation expenses	312	95
Cash flow before changes in Net Working Capital	16,407	27,504
(Increase)/decrease in trade receivables	(28,168)	(46,540)
(Increase)/decrease in inventories	(17,302)	(31,750)
Increase/(decrease) in trade payables	(11,754)	678
Increase/(decrease) in tax payables	9,726	(2,253)
(Increase)/decrease in other receivables	539	1,481
Increase/(decrease) in other payables	8,112	3,647
Cash flow after changes in Net Working Capital	(22,440)	(47,233)
Income taxes paid	(1,570)	(1,378)
Cash flow from operating activities (A)	(24,010)	(48.611)
(Investments) in tangible assets	(26,099)	(22,117)
Realisation price, or reimbursement value, of tangible assets	453	84
(Investments) in intangible assets	(354)	-
(Investments)/disinvestments in current financial assets	12,025	(29,368)
(Investments)/disinvestments in other medium or long-term assets	(665)	(24)
Collection of assets held for sale	2,913	-
Interest collected	579	73
Cash flow from investing activities (B)	(11,148)	(51,352)
Purchase of treasury shares	-	(9,805)
New bank loans and other lenders	48,213	10,848
Repayment of bank loans and other lenders	(24,118)	(12,959)
Increase in current financial liabilities	4,705	36,507
Repayment of current financial liabilities	(10,324)	(30,177)
Change in scope of consolidation	(12,697)	-
Repayments of financial liabilities arising from rights of use	(2,743)	(2,785)
Dividends paid	(193)	(171)
Interest paid	(4,955)	(6,025)
Cash flow from financing activities (C)	(2,112)	(14,567)
Increase (decrease) in cash and cash equivalents (A+B+C)	(37,720)	(114,530)
Cash and cash equivalents at the beginning of the period	187,223	204,836
Effect of changes in exchange rates	(1,283)	(2,795)
Cash and cash equivalents at the end of the period	148,670	87,511

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EuroGroup Laminations S.p.A. Earnings Release 2025

9956_rns_2025-05-19_97459782-0007-4e87-947d-2e75b17e0a3c.pdf

THE BOARD OF DIRECTORS APPROVES Q1 2025 FINANCIAL RESULTS

KEY CONSOLIDATED ECONOMIC AND FINANCIAL RESULTS AS OF MARCH 31, 2025

Consolidated results by operating segments

Consolidated revenues by region:

2 EuroGroup Laminations S.p.A.

Financial Position

SIGNIFICANT EVENTS DURING THE PERIOD

OUTLOOK

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Consolidated Statement of Financial Position as of 31 March 2025

Consolidated Income Statement as of 31 March 2025

Consolidated Cash Flow Statement as of 31 March 2025

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EuroGroup Laminations S.p.A. — Earnings Release 2025

9956_rns_2025-05-19_97459782-0007-4e87-947d-2e75b17e0a3c.pdf

THE BOARD OF DIRECTORS APPROVES Q1 2025 FINANCIAL RESULTS

KEY CONSOLIDATED ECONOMIC AND FINANCIAL RESULTS AS OF MARCH 31, 2025

Consolidated results by operating segments

Consolidated revenues by region:

2 EuroGroup Laminations S.p.A.

Financial Position

SIGNIFICANT EVENTS DURING THE PERIOD

OUTLOOK

***

Consolidated Statement of Financial Position as of 31 March 2025

Consolidated Income Statement as of 31 March 2025

Consolidated Cash Flow Statement as of 31 March 2025

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