Fnac Darty — Earnings Release 2026

Apr 23, 2026

FNAC DARTY

Ivry-sur Seine, France, April 23, 2026, 5:45 p.m. CET

GOOD BUSINESS PERFORMANCE IN Q1 2026

• Q1 2026 revenue of €2,310 million, up +0.9% LFL¹ compared to Q1 2025²
• Gross margin rate up 10 basis points compared to Q1 2025²
• EP Group's proposed takeover bid
• Favourable and unanimous reasoned opinion of the members of the Board of Directors issued on March 9, 2026
• Draft response note filed with the AMF on March 10, 2026
• Foreign Investment Control Authorization in France received on March 26, 2026
• Opening of the Offer expected in the second quarter of 2026
• Closing of the Offer expected in the second half of 2026

Enrique Martinez, Chief Executive Officer of Fnac Darty, said:

« Fnac Darty had a good quarter, particularly driven by European countries outside France and the growth in online sales. We are vigilant and will remain agile in adapting to geopolitical developments and their potential impact on global trade and consumption, which for the time being remains limited for our business. We continue to make progress on the initiatives related to our Beyond everyday plan to improve our offers in line with customers' expectations and accelerate in services across all our geographies.

The process related to the proposed takeover bid for EP Group is continuing and the Board of Directors has expressed, in its reasoned opinion, unanimous support for the project. Over the years, we have built a relationship of trust with EP Group, the Group’s largest shareholder since 2023 through its affiliate VESA Equity Investment, that notably enabled us to carry out the transformative acquisition of Unieuro. The Board of Directors’ reasoned opinion confirms the merits of this project, particularly for the Company and its employees, and reflects renewed support for Beyond everyday and our long-term strategy. »

REVENUE

in €m	Q1 2025 reported	Q1 2025 restated²	Q1 2026 reported	Change vs Q1 2025²
				reported	LFL¹
France	1,371.7	1,343.7	1,346.7	+0.2%	+0.1%
Rest of Europe	942.1	942.1	963.1	+2.2%	+2.0%
Group	2,313.8	2,285.8	2,309.8	+1.0%	+0.9%

In the 1st quarter of 2026, Fnac Darty generated revenue of €2,310 million, up +0.9% LFL¹ compared to the same period last year.

Tables contain individually rounded data. Arithmetic calculations based on rounded elements may differ from the aggregates or subtotals displayed.

¹ LFL data excludes currency effects, changes in scope, store openings and closures

² Restated data includes the IFRS 5 reclassification of Nature & Découvertes as shown in the IFRS 2025 consolidated financial statements

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FNAC DARTY

Evolution by distribution channel

Online sales increased by +5.4% compared to Q1 2025¹. The latter represent 22% of the Group's total sales, driven by the very good momentum of the marketplace activity. The level of omnichannel sales (Click & Collect) was stable compared to Q1 2025¹ and accounted for nearly 50% of the Group's online sales, while in-store sales were almost stable. These results confirm, once again, the relevance of the omnichannel strategy adopted by Fnac Darty.

Evolution by product category

Domestic appliances increased compared to Q1 2025¹, driven by continued momentum in sales of small domestic appliances, particularly in the floor treatment category. Large domestic appliances sales return to growth across all sub-categories and geographies.

Consumer electronics were stable. Computer sales rose sharply, offsetting the decline mainly in television and sound sales.

Diversification continues to be driven by solid growth in the toys and games and stationery categories.

Services are growing, driven by the continued appeal of the household's subscription-based services.

Finally, editorial products declined, impacted by a book market without particularly notable new releases.

Evolution by geographical area

in €m	Q1 2025 reported	Q1 2025 restated¹	Q1 2026 reported	Change vs Q1 2025¹
				reported	LFL²
France	1,371.7	1,343.7	1,346.7	+0.2%	+0.1%
Rest of Europe	942.1	942.1	963.1	+2.2%	+2.0%
of which Italy	573.2	573.2	576.3	+0.5%	+0.2%
of which Belgium	153.0	153.0	157.9	+3.3%	+3.2%
of which Portugal	104.4	104.4	112.1	+7.4%	+9.8%
of which Spain	67.0	67.0	71.6	+6.9%	+5.5%
of which Switzerland	44.4	44.4	45.1	+1.4%	(1.1)%
Group	2,313.8	2,285.8	2,309.8	+1.0%	+0.9%

Sales in France amounted to €1,347 million, up +0.1% compared to Q1 2025¹.

Rest of Europe revenue was €963 million in Q1 2026, up +2.0% compared to Q1 2025¹:

• Italy posted almost stable LFL² sales of +0.2%. Domestic appliances and computer sales are up, while there is a decline in television and a negative comparison base for gaming.
• Belgium grew by +3.2% LFL² driven by a good dynamic in online sales.
• Portugal grew by +9.8% LFL², driven by the dynamism of sales, both of products and services, in stores and online. The launch of the Darty brand was a great success.
• Spain grew by +5.5% LFL², driven by the good momentum of stores.
• Switzerland was slightly down at -1.1% LFL², mainly impacted by the decline in the book market.

GROSS MARGIN RATE

The Group's gross margin rate increased by 10 basis points LFL², compared to Q1 2025¹. The growing positive impact of the services activities offset an unfavourable mix effect.

¹ Restated data includes the IFRS 5 reclassification of Nature & Découvertes as shown in the IFRS 2025 consolidated financial statements
² LFL data excludes currency effects, changes in scope, store openings and closures

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FNAC DARTY

EP GROUP'S TAKEOVER BID FOR FNAC DARTY

The Board of Directors of Fnac Darty met on March 9, 2026 to issue, in accordance with applicable regulations, its reasoned opinion on the proposed takeover bid for the outstanding shares and OCEANEs launched by EP Group, a company controlled by Daniel Křetínský, on January 26, 2026.

Vesa Equity Investment, acting in concert with EP Group, holds 28.5% of the share capital and voting rights of Fnac Darty.

Having reviewed the draft offer document, the conclusions of Ledouble (acting as independent expert in connection with the Offer) confirming the fairness of the Offer and the recommendation of the ad hoc committee, the Board of Directors of the Company issued a favourable and unanimous reasoned opinion on the Offer, considering that it is in line with the interest of the Company, its shareholders and its employees.

The Board of Directors therefore recommends that Fnac Darty's Shareholders and OCEANEs holders tender their securities to the Offer.

The Board of Directors' reasoned opinion is reproduced in full in the draft response document filed with the French Financial Markets Authority (Autorité des marchés financiers, "AMF"), on March 10, 2026, concurrently with the Offeror's draft offer document.

The draft tender Offer, the draft offer document and the draft response document remain subject to the AMF's review, which will assess their compliance with the applicable legislative and regulatory provisions.

Subject to the AMF's clearance decision, and the Competition Authority's clearance, the Offer is expected to open during Q2 2026 and to close in the second half of 2026.

All the documents are available on the website: EP Group's proposed takeover bid - Fnac Darty.

OUTLOOK

The Group confirms its expectation of an increase in its 2026 current operating margin rate and free cash flow from operations.

The objectives communicated for 2030 are confirmed.

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FNAC DARTY

Q12026 REVENUE

Jean-Brieuc Le Tinier, Group Chief Financial Officer, will host a conference call in French, with simultaneous translation into English, for investors and analysts, on April 23, 2026 at 6:30 p.m. (continental time); 5:30 p.m. (UK); 12:30 p.m. (East Coast USA).

The presentation will be livestreamed by clicking on the following link: here

In French

For those wishing to connect to the conference call in French, to listen by phone and ask questions orally: France: +33 1 70 91 87 04

In English

For those wishing to connect to the conference call in English, to listen by phone and ask questions orally: UK: +44 1 212 818 004 / USA: +1 718 705 8796

Replay

Replay, in French or English, will then be possible from the website www.fnacdarty.com.

FINANCIAL CALENDAR

May 27, 2026: Shareholders' Meeting 2026

July 22, 2026 (after market close): 2026 half-year results

October 21, 2026 (after market close): Q3 2026 revenue

CONTACTS

ANALYSTS/INVESTORS

Domitille Vielle – Head of Investor Relations – domitille.vielle@fnacdarty.com – +33 (0)6 03 86 05 02

Laura Parisot – Investor Relations Manager – laura.parisot@fnacdarty.com – +33 (0)6 64 74 27 18

PRESS

Bénédicte Debusschère – Head of Media Relations and Influence – benedicte.debusschere@fnacdarty.com – +33 (0)6 48 56 70 71

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FNAC DARTY

APPENDIX – 2025 QUARTERLY REVENUE¹

2025¹	Q1	Q2	H1	Q3	9M	Q4	H2	FY
In €m
France	1,343.7	1,250.2	2,593.9	1,441.9	4,035.8	2,033.1	3,474.9	6,068.9
Rest of Europe	942.1	887.2	1,829.3	1,018.9	2,848.1	1,412.8	2,431.7	4,261.0
of which Italy	573.2	547.2	1,120.4	617.0	1,737.4	846.4	1,463.3	2,583.7
of which Belgium	153.0	126.7	279.7	159.8	439.5	191.7	351.5	631.2
of which Portugal	104.4	109.7	214.1	130.5	344.6	194.4	324.9	539.0
of which Spain	67.0	61.2	128.3	63.8	192.1	103.5	167.3	295.6
of which Switzerland	44.4	42.4	86.8	47.8	134.6	76.8	124.6	211.4
GROUP REVENUE¹	2,285.8	2,137.4	4,423.2	2,460.7	6,884.0	3,445.9	5,906.6	10,329.8

APPENDIX - STORE NETWORK

	December 31, 2025			March 31, 2026
	Integrated	Franchises	Total	Integrated	Franchises	Total
France¹	395	401	796	398	394	792
Rest of Europe	439	249	688	434	248	682
Italy	269	242	511	265	241	506
Belgium	84	-	84	84	-	84
Portugal	45	4	49	45	4	49
Spain	33	3	36	32	3	35
Switzerland	8	-	8	8	-	8
Group Total	834	650	1,484	832	642	1,474

¹ Including 17 stores abroad (2 in Saudi Arabia, 3 in Qatar, 6 in Tunisia, 2 in Senegal, 2 in Ivory Coast, 1 in Congo, 1 in Cameroon), 18 stores in the French overseas territories as well as Nature & Découvertes subsidiaries managed from France.

Restated data: include the IFRS 5 reclassification of Nature & Découvertes as shown in the IFRS 2025 consolidated financial statements