Fila — Investor Presentation 2024

Aug 6, 2024

HI 2024 Results Presentation

6 August 2024

1. Highlights

• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

H1 2024 Highlights

H1 2024 RESULTS

• FILA H1 2024 results confirm the positive growth trend in profitability and free cash flow generation, as well as continuing growth in valuation of FILA's 30.6% stake in DOMS Industries
• Core Business Sales of -5.2% in H1 2024 vs H12023 (-3.5% on a comparable FX basis), with Q2 recovering to -0.9% vs -11.2% in Q1 due to the one-off SAP EWM disruption at Dixon USA. Europe and Central-South America confirm growth trends
• IFRS 16 Adjusted EBITDA grew +5.6% in H1 2024 (+7.8% ex IFRS 16), accelerating to +11.5% in Q2, with higher margins thanks to favourable product mix coupled with ongoing efficiency actions
• Improvement of €7.9m in Free Cash Flow to Equity, -€40.3 m in H1 2024 vs -€48.2 m in H1 2023, very positive considering that in calendar 2023 FILA generated a total of €60.3m of Free Cash Flow to Equity
• Net Bank Debt of €309.6m in H1 2024, €98.7m below H1 2023, thanks to DOMS IPO and strong cash flow generation, and despite the payment of €36.2m dividends in 2024

OUTLOOK FOR 2024 & CAPITAL MARKETS DAY

2024 Guidance envisages stable Revenues, mid-single digit growth in Adjusted EBITDA, and Free Cash Flow to Equity in the €40-50m range

Capital Markets Day scheduled for 12 November 2024, together with Q3 results, to provide the financial markets with insight on FILA's business, strategy and financial guidance for the medium term

Snapshot of H1 2024 results (excluding DOMS Industries)

Note: data on Sales and EBITDA with impact of DOMS and IFRS 16 included in the Appendices

Consistent Long Term Growth (excluding DOMS Industries)

Note: data on Sales and EBITDA with impact of DOMS and IFRS 16 included in the Appendices

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

H1 2024 Core Business Sales (excluding DOMS Industries)

	H1 2023	H1 2024	Delta (€)	Comparable FX (€)	Q2 2023	Q2 2024	Delta (€)	Comparable FX (€)
Total Fila Group	351.7	333.3	-18.4m -5.2%	-12.3m -3.5%	203,2	201.4	-1.8m -0.9%	-0.8m -0.4%
North	182.4	163.6	-18.8m	-18.7m	109.2	106.4	-2.8m	-3.3m
America	(52%)	(49%)	-10.3%	-10.3%	(54%)	(53%)	-2.5%	-3.0%
Europe	116.9	117.7	+0.7m	+1.7m	64.8	66.0	+1.2m	+1.5m
	(33%)	(35%)	+0.6%	+1.4%	(32%)	(33%)	+1.8%	+2.2%
C&SA	43.8	43.8	+0.0m	+4.9m	24.5	24.5	0.0m	+1.2m
	(12%)	(13%)	+0.1%	+11.1%	(12%)	(12%)	-0.1%	+5.0%
Asia	6.9	6.5	-0.4m	-0.2m	3.9	3.6	-0.3m	-0.3m
	(2%)	(2%)	-5.5%	-2.5%	(2%)	(2%)	-8.7%	-7.0%
RoW	1.7	1.7	+0.0m	+0.1m	0.7	0.9	+0.2m	+0.2m
	(0%)	(0.5%)	+1.5%	+4.2%	(0%)	(0%)	+24.7%	+24.6%

Key Highlights

Sales declined -3.5% on a comparable FX basis in H1 2024 vs the prior year, with Q2 almost stable and recovering to -0.4% versus -7.8% in Q1. Negative currency impact mainly reflecting the devaluation of the Argentine Peso and Turkish lira

North America recovering from temporary disruption of logistics in March with introduction of SAP EWM module. Q2 reflecting the latest delays in deliveries, recovered during July, coupled with the reorganization of our offer towards businesses with better margins

Europe capitalising on re-stocking trend already visible in Q1, with Q2 on a comparable FX basis accelerating to +2.2% vs +0.4% in Q1

C&SA grew +5.0% on a comparable FX basis (Q2 24 vs Q2 23), with continuing strong growth in Mexico

H1 2024 Adjusted EBITDA (excluding DOMS Industries)

Adjusted IFRS 16 EBITDA jumped +11.5% in Q2 versus -6.2% in Q1 leading to an overall +5.6% in H1 24 EBITDA margin improvement to

Key Highlights

21.3% in H1 2024 vs 19.1% in the prior year, thanks to the efficiency gains mix effect, as well as a more selective commercial approach

North America EBITDA margin improved to 23.1% in H1 versus 19.1% in the prior year, despite the impact of SAP EWM, and with a record margin of 26.6% in Q2 2024

Europe EBITDA margin of 18.3% in H1 2024 vs 17.1% in the prior year, and despite losses in Russia (€0.5m in H1)

CS&A EBITDA increases +2.0% in H1 2024 versus 2023, with +10.5% in H2 despite Argentine peso and losses in Dominican Republic (€0.7m in H1)

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

Adjusted IFRS 16 Income Statement

EMARKET SDIR
CERTIFIED

(€ million)	H1 2023 w/DOMS	H1 2023 o/w DOMS	H1 2024 ex-DOMS	Change
Core Business Sales	415.6	63.9	333.3	-82.3
Other revenues	5.0	0.3	4.1	-0.8
Total Revenues	420.6	64.2	337.4	-83.1
Cost for Raw Materials and Supplies and net increase (decrease) in Inventory	-196.0	-43.4	-143.8	52.2
Costs for Services and Use of Third-Party Assets	-60.9	-5.8	-52.3	8.6
Personnel Costs	-79.2	-9.1	-67.9	11.3
Other Operating Costs	-4.6	0.0	-2.6	2.0
Net IC Revenue/Cost DOMS on EBITDA	-	7.0	-	-
Adjusted EBITDA	79.9	12.8	70.8	-9.1
Deprecation & Amortisation	-20.7	-2.8	-17.4	3.3
Write-Downs	-1.1	-	-0.4	0.7
EBIT	58.1	10.0	53.1	-5.1
Financial income/expenses	-20.8	- 0.6	-11.3	9.5
Income/expenses from associates at equity method	0.5	0.5	1.4	0.9
PBT	37.8	9.9	43.2	5.3
Taxes	-10.1	-2.4	-10.6	-0.5
Adjusted Net Profit (Loss)	27.7	7.5	32.6	4.9
Adjusted Group Net Profit (Loss)	23.7	3.8	32.0	8.3
Adjustments for Non-Recurring Items to EBITDA	- 3.0	0.0	-2.5	-0.5
Adjustments for Non-Recurring Items to Group Net Profit	- 2.5	0.0	-4.3	-1.8

Key Highlights

Adjusted Group Net Profit surges +35% to €32.0m in H1 24 from €23.7m in H1 23 (note that the H1 result includes DOMS' contribution for Jan-Mar 2024)

PPA Amortisation of €5.8m in H1 23 and €5.0m in H1 24

Significant decline in Financial Expenses due to lower indebtedness, improved margin ratchets, and repayment of Mexican Peso denominated facilities

Income from associates relates to FILA's 30.6% stake in DOMS

Adjustments for Non-Recurring Items related to reorganization costs in North America, the performance shares incentive plan and fair value evaluation of intangible assets

IFRS 16 Cash Flow Statement

EMARKET SDIR
CERTIFIED

(€ million)	H1 2023 w/DOMS	H1 2024 ex-DOMS	Change
Adjusted EBITDA	79.9	70.8	-9.1
Changes in net working capital	-81.3	-89.5	-8.2
Investments in tangible and intangible assets	-17.9	-3.9	14.0
Operating Cash Flow	-19.3	-22.5	-3.2
IFRS 16 rent payments	-8.0	-6.8	1.2
Tax payments	-5.2	-0.7	4.5
Net financial expenses	-15.2	-10.8	4.4
Net financial expenses IFRS 16	-2.8	-1.9	0.9
Non-monetary costs and other changes	5.4	4.9	-0.5
Adjusted Free Cash Flow to Equity	-45.1	-37.8	7.3
Adjustments for Non-Recurring Items	-3.0	-2.5	0.5
Reported FCF to Equity	-48.2	-40.3	7.9
Buybacks/ dividends	-7.6	-36.2	-28.5
Effect of FX rate movements	-0.9	-3.7	-2.8
Changes in amortised cost and MTM	1.0	4.2	3.2
Changes in IFRS 16 Net Financial Position	1.9	10.4	8.4
Changes in Reported Net Financial Position	-53.8	-65.6	-11.8

Key Highlights

H1 results reflect customary outflow for working capital due to seasonality, growth in Europe and Mexico, as well as a temporary EWM impact

Given its strong growth profile, DOMS Industries required significant investments in capital expenditure and working capital

Decline in capex of €14.0m vs 2023, with FILA at €3.9m in 2024 vs €17.9m in 2023 reflecting significant investments in DOMS' production facilities

Lower net financial expenses of €4.4m and IFRS 16 rent payments fall €0.9m due to savings in Mexico and DOMS

Overall result is an improvement in Free Cash Flow to Equity of €7.9m in H1 24 compared to H1 23

Net Bank Debt & Net Financial Position

EMARKET SDIR
CERTIFIED

(€ million)	H1 2023 w/DOMS	FY 2023 ex-DOMS	H1 2024 ex-DOMS
Cash and Cash Equivalents	65.3	124.8	63.6
Financial Liabilities and Receivables	-473.6	-354.3	-373.2
Net Bank Debt	-408.3	-229.5	-309.6
LTM Adjusted IFRS 16 EBITDA	133.0	110.2	114.0
Leverage ratio on Net Bank Debt	3.1x	2.1x	2.7x
Amortized Cost and Financial Receivables	1.4	2.8	3.9
Net Financial Position excl. IFRS and MtM Hedging	-406.9	-226.6	-305.7
Mark to Market Hedging	4.5	-0.9	2.2
IFRS 16	-86.6	-75.9	-65.5
IFRS 16 Net Financial Position	-489.0	-303.4	-369.0

Key Highlights

Net Bank Debt of €309.6m in H1 24, compared to €408.3m at H1 23

Compared to YE 2023, Net Bank Debt in H1 24 grew by €80.1m due to customary working capital dynamics and dividend payments of €36.2m and negative FX impact of €3.7m

Based on LTM, Net Bank Debt declined by €98.7m, of which DOMS IPO cash-in (+€69.1m), extraordinary dividends (-€29.4m) and FX impacts (-€2.1m)

Based on LTM Adjusted IFRS 16 EBITDA of €114.0m, Leverage Ratio of 2.7x in H1 24

Reduction of €10.4m IFRS 16 debt due to efficiencies on the cost of leased production facilities in Mexico and the deconsolidation of DOMS Industries

Reported IFRS 16 Balance Sheet

EMARKET SDIR
CERTIFIED

(€ million)	H1 2023 w/DOMS	FY 2023 ex-DOMS	H1 2024 ex-DOMS
Intangible Assets	438.2	378.0	378.6
Tangible Assets	172.7	123.3	109.8
Biological Assets	1.7	1.2	1.3
Financial Fixed Assets	5.5	161.1	163.1
Fixed Assets	618.0	663.7	652.7
Other Non Current Asset/Liabilities	25.2	23.3	20.6
Trade Receivables	198.6	99.8	188.0
Inventories	305.1	264.4	266.4
Trade Payables	-126.2	-105.7	-107.6
Trade Working Capital	377.5	258.5	346.7
Other Current Asset and Liabilities	-2.9	4.5	-3.4
Net Working Capital	374.6	263.0	343.3
Provision & Funds	-82.4	-72.7	-72.7
Net Capital Employed	935.4	877.4	944.0
Shareholders Equity	-446.4	-574.0	-574.9
IFRS 16 Net Financial Position	-489.0	-303.4	-369.0
Total Net Sources	935.4	-877.4	-944.0
Trade Working Capital	377.5	258.5	346.7
LTM reported Sales	666.6	644.9	626.4
Trade Working Capital % LTM Sales	56.6%	40.1%	55.4%

Key Highlights

As indicated in the Q1 results presentation, H1 24 compared to H1 23 largely reflects the impact of the deconsolidation of DOMS Industries

On a constant perimeter basis, change from YE 2023 to H1 24 reflects customary seasonality, with increases in Trade Receivables (+€88.2m) while Inventories are stable (+€2.0m)

Trade Working Capital decreased to 55.4% of Revenues in H1 24 from 56.6% in H1 23

Financial Fixed Assets largely composed of FILA's 30.6% stake in DOMS for €161.9m under the equity method

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

DOMS Share Price Performance & Valuation for FILA

• DOMS Industries was IPO on December 20th at a price of INR 790, increasing 68% on the 1st trading day
• DOMS is currently trading at INR 2,293, increasing +79% in 2024, significantly outperforming the BSE Index
• FILA's 30.6% stake is currently worth €462m, based on the closing price on 5 August 2024

Note: EUR/INR exchange rates on the same date of the share price 15

DOMS Industries Market Data

DOMS Consensus Results and Broker Recommendations (source: FactSet, 5 August 2024)
INR millions	2024A*	2025E	2026E	2027E
Sales	15,371	19,148	23,465	29,265
EBITDA	2,727	3,263	4,033	5,036
EBIT	2,215	2,647	3,224	3,904
Net Income	1,532	1,955	2,402	2,990

Broker	Rating Date	Rating	Target Price (INR)
Restricted	21 Jun 2024	Buy	2,320.00
ICICI Securities	18 Jun 2024	Buy	2,545.00
JM Financial Instit. Securities	14 Jun 2024	Buy	2,239.00
Nuvama Instit. Equities	24 May 2024	Buy	2,353.00
IIFL Research	24 May 2024	Buy	2,360.00
Asian Markets Securities	24 May 2024	Buy	2,086.00
Average			2,289.00

DOMS Industries Share Price Performance

* Note: DOMS Industries fiscal year falls on 31 March			+26.8% vs INR 1805 in FILA Q1 2024 presentation	+€91.6m vs €370.4m in 16 FILA Q1 2024 presentation
Average			2,289.00	FILA Stake (€m)	462.0
Asian Markets Securities	24 May 2024	Buy	2,086.00	EUR/INR	92.2
				FILA Stake (INR bn)	42.6
IIFL Research	24 May 2024	Buy	2,360.00	FILA Stake (%)	30.6%
Nuvama Instit. Equities	24 May 2024	Buy	2,353.00	DOMS Market Capitalisation (INR bn)	139.1
JM Financial Instit. Securities	14 Jun 2024	Buy	2,239.00	DOMS Share Price on 5 Aug, 2024 (INR)

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

H1 2024 Adjusted EBITDA (excluding DOMS)

	H1 2023	H1 2024	delta	2023 Margin	2024 Margin	Q2 2023	Q2 2024	delta	2023 Margin	2024 Margin
Total Fila	67.0	70.8	+5.6%	19.1%	21.3%	44.3	49.4	+11.5%	21.7%	24.5%
Group	60.0	64.6	+7.8%	17.1%	19.4%	41.0	46.1	+12.4%	20.2%	22.9%
	34.9	37.8	+8.3%	19.1%	23.1%	24.1	28.3	+17.3%	22.1%	26.6%
North America	32.1	35.5	+10.3%	17.6%	21.7%	23.0	27.3	+19.1%	21.0%	25.7%
	20,0	21.5	+7.8%	17.1%	18.3%	12.7	14.1	+11.0%	19.6%	21.4%
Europe	18.3	19.9	+8.8%	15.7%	17.0%	11.9	13.2	+11.1%	18.4%	20.1%
	8.9	9.1	+2.0%	20.3%	20.7%	5.2	5.7	+10.0%	21.2%	23.3%
	7.0	7.6	+8.7%	16.0%	17.4%	4.2	4.7	+10.0%	17.3%	19.0%
C&SA
	3.3	2.3	-30.8%	48.2%	35.3%	2.3	1.2	-49.5%	59.4%	32.8%
Asia	2.6	1.6	-38%	37.6%	24.7%	2.0	0.8	-57.9%	50.3%	23.2%
	0.0	0.1	n.m.	-2.5%	6.0%	0.0	0.1	n.m.	-4.3%	9.8%
RoW	-0.1	0.0	n.m.	-7.7%	0.2%	-0.1	0.0	n.m.	-10.3%	4.6%

Adjusted EBITDA Excluding IFRS 16

Sales – w/DOMS and ex-DOMS

2022							2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	54.6	69.1	58.4	53.0	235.1	52.1	64.8	52.0	45.3	214.2
North America	68.7	103.3	91.2	61.8	325.0	73.2	109.2	84.5	54.7	321.6
CSA	15.0	21.9	20.2	20.5	77.7	19.3	24.5	22.1	25.3	91.2
Asia	26.8	29.4	33.5	33.0	122.6	33.1	37.7	39.1	38.8	148.7
Other	0.9	0.9	1.1	1.2	4.0	1.0	0.7	0.9	0.9	3.5
Total	166.0	224.6	204.5	169.5	764.6	178.7	236.9	198.5	165.0	779.2

			2022		2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	54.6	69.1	58.4	53.0	235.1	52.1	64.8	52.0	45.3	214.2
North America	68.7	103.3	91.2	61.8	325.0	73.2	109.2	84.5	54.7	321.6
CSA	15.0	21.9	20.2	20.5	77.7	19.3	24.5	22.1	25.3	91.2
Asia	3.6	3.2	4.1	3.3	14.1	3.0	3.9	4.1	3.4	14.4
Other	0.9	0.9	1.1	1.2	4.0	1.0	0.7	0.9	0.9	3.5
Total	142.8	198.4	175.1	139.8	656.1	148.6	203.2	163.5	129.6	644.9

Adjusted IFRS 16 EBITDA – w/DOMS and ex-DOMS

Incl. IFRS 16			2022					2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	9.2	17.5	11.3	5.6	43.6	7.3	12.8	8.7	2.3	30.9
North America	9.9	19.4	12.5	3.9	45.7	10.6	24.4	18.6	5.7	59.3
CSA	3.1	4.4	4.5	2.5	14.5	3.7	5.2	3.6	2.3	14.8
Asia	4.0	4.4	6.3	6.7	21.5	6.7	9.3	8.6	6.3	30.9
Other	0.1	-0.1	-0.1	0.2	0.2	0.0	0.0	0.0	0.2	0.2
Total	26.3	45.8	34.5	18.9	125.5	28.3	51.6	39.5	16.7	136.1

Incl. IFRS 16			2022					2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	9.1	17.4	11.2	5.9	43.6	7.1	12.8	8.8	2.2	30.9
North America	9.8	19.3	12.5	4.2	45.8	10.4	24.5	18.8	5.5	59.2
CSA	3.0	4.4	4.4	2.6	14.4	3.7	5.3	3.7	2.3	14.9
Asia	1.1	0.7	2.4	0.7	5.0	1.3	2.0	1.6	0.1	5.0
Other	0.1	-0.1	-0.1	0.2	0.1	0.0	0.0	0.0	0.2	0.2
Total	23.1	41.8	30.4	13.6	108.9	22.5	44.5	32.9	10.3	110.2

Adjusted EBITDA excluding IFRS 16 – w/DOMS and ex-DOMS

Excl. IFRS 16			2022					2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	8.4	16.8	10.5	4.7	40.4	6.4	12.0	7.8	1.2	27.4
North America	8.5	18.0	11.0	2.5	40.0	9.2	23.0	17.4	4.4	54.0
CSA	2.2	3.6	3.5	1.6	10.9	2.8	4.3	2.6	1.3	10.9
Asia	3.4	4.0	5.8	5.8	19.0	6.0	8.7	8.0	6.1	28.8
Other	0.1	-0.1	-0.1	0.1	0.0	-0.1	-0.1	0.0	0.1	0.0
Total	22.7	42.1	30.7	14.7	110.3	24.3	47.9	35.8	13.1	121.1

Excl. IFRS 16			2022					2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	8.3	16.7	10.5	4.6	40.1	6.3	12.0	7.9	1.2	27.5
North America	8.4	17.9	11.0	2.3	39.6	9.0	23.1	17.5	4.4	54.1
CSA	2.2	3.5	3.5	1.5	10.8	2.7	4.3	2.7	1.2	10.9
Asia	0.8	0.4	2.0	1.2	4.3	1.0	1.6	1.2	-0.2	3.6
Other	0.1	-0.1	-0.1	0.1	0.0	0.0	-0.1	0.0	0.1	0.0
Total	19.8	38.4	26.8	9.8	94.8	19.0	41.0	29.3	6.7	96.1

Exchange Rates (source: Bank of Italy)

Currency		Avg H1 23	Avg H1 24	30/06/2023	31/12/2023	30/06/2024
Argentinean Peso	ARS	229.14	929.38	278.50	892.92	975.39
Australian Dollar	AUD	1.60	1.64	1.64	1.63	1.61
Brazilian Real	BRL	5.48	5.49	5.28	5.36	5.89
Canadian Dollar	CAD	1.46	1.47	1.44	1.46	1.47
Swiss Franc	CHF	0.99	0.96	0.98	0.93	0.96
Chilean Peso	CLP	871.24	1,016.77	872.59	977.07	1,021.54
Renminbi Yuan	CNY	7.49	7.80	7.90	7.85	7.77
Dominican Peso	DOP	59.76	63.63	60.13	64.18	63.24
UK Pound	GBP	0.88	0.85	0.86	0.87	0.85
Indonesian Rupiah	IDR	16,274.92	17,207.01	16,384.54	17,079.71	17,487.21
Shekel	ILS	3.88	3.99	4.05	4.00	4.02
Indian Rupee	INR	88.88	89.98	89.21	91.90	89.25
Mexican Peso	MXN	19.66	18.52	18.56	18.72	19.57
Polish Zloty	PLN	4.63	4.32	4.44	4.34	4.31
Russian Ruble	RUB	83.77	98.15	97.12	100.22	92.07
Swedish Krona	SEK	11.33	11.39	11.81	11.10	11.36
Turkish Lira	TRY	21.54	34.25	28.32	32.65	35.19
US Dollar	USD	1.08	1.08	1.09	1.11	1.07
South African Rand	ZAR	19.68	20.25	20.58	20.35	19.50

Disclaimer

This document has been prepared by F.I.L.A. S.p.A. ("F.I.L.A." or the "Company"), for information purposes only, exclusively with the aim of assisting you to understand and assess F.I.L.A.'s activities. Statements contained in this presentation, particularly regarding any possible or assumed future performance of the F.I.L.A. Group, are or may be forward-looking statements based on F.I.L.A.'s current expectations and projections about future events. By their nature, forwardlooking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond F.I.L.A.'s control. These risks, uncertainties and factors may cause F.I.L.A.'s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performances or achievements). Forward-looking statements are not guarantees of future performance. Consequently, F.I.L.A. and its management can give no assurance regarding the future accuracy of the estimates of future performance set forth in this document or the actual occurrence of the expected developments. The data and information contained in this document are subject to changes and integrations. Although F.I.L.A. reserves the right to make such changes and integrations when it deems necessary or appropriate, F.I.L.A. assumes no affirmative obligation to update, change or integrate this document, except as and to the extent required by law. Any reference to the past performance of the F.I.L.A. Group shall not be taken as an indication of future performance. In addition, this presentation includes certain ''Adjusted'' financial and operating indicators and non-IFRS measures, which have been adjusted to reflect extraordinary events, non-recurring and/or non-monetary transactions and/or activities that are not directly related to the Group's ordinary business. These measures are not indicative of our historical operating results, nor are they meant to be predictive of future results. These measures are used by F.I.L.A.'s management to monitor the underlying performance of the business and the operations. Since not all companies calculate these measures in an identical manner, F.I.L.A.'s presentation may not be consistent with similar measures used by other companies. Such "Adjusted" information has been included to facilitate the comparison of financial information among different financial periods; however, it should be noted that such information is not recognized as a measure of financial performance or liquidity under IFRS and/or does not constitute an indication of the historical performance of the Company or the Group. Therefore, investors should not place undue reliance on such data and information. The information contained in this document does not constitute or form any part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as any inducement to enter into, any investment activity. This document does not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on F.I.L.A., its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made. The merit and suitability of investment in F.I.L.A. should be independently evaluated and determined by investors. Analyses in this presentation are not, and do not purport to be, appraisals of the assets, stock or business of F.I.L.A., and do not form any publicity material relating to the securities. Any person considering an investment in F.I.L.A. is advised to obtain independent advice as to the legal, tax, accounting, regulatory, financial, credit and other related advice prior to making an investment.

By attending this presentation, you agree to be bound by the foregoing terms.

F.I.L.A. Investor Relations

Cristian Nicoletti CFO & IR Officer Pietro Masera, Daniele Ridolfi - IR ir@fila.it +39 02 38105206