Green Oleo — Management Reports 2026

Feb 23, 2026

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GREEN OLEO ANNOUNCES THE ACQUISITION OF THE BUSINESS UNIT OF KIALAB S.R.L., ACTIVE IN THE COSMETICS SECTOR

Strategic acquisition to strengthen the natural cosmetics portfolio and enhance the patented active ingredient Sugarderm®

Management KPIs approved as of 31 December 2025: significant revenue stability thanks to strong growth in personal care (+49%)

23 February 2026, Cremona

GREEN OLEO (GRN:IM), a benefit corporation listed on Euronext Growth Milan and one of Europe's leading producers of fine oleochemicals from renewable and biodegradable sources, announces that it has today signed a preliminary agreement for the acquisition of the cosmetics division of KiaLab S.r.l..

The transaction will be carried out through KiaLab New S.r.l., a newco set up ad hoc and wholly owned by GREEN OLEO, which has provided it with the necessary financial resources, which are fully available. The closing of the transaction, which is not significant in amount, is expected to take place on 27 February 2026, subject to the fulfilment of certain conditions precedent to protect the buyer.

The business unit includes all the assets, contracts, authorisations and certifications necessary for the exercise of cosmetic activities, together with the specialised personnel and technical resources related to the business unit, excluding any financial debt and additional liabilities, with the exception of severance pay and deferred charges for unused holidays and leave and additional monthly payments relating to the transferred personnel.

The acquisition allows GREEN OLEO to integrate highly specialised technical know-how and laboratory expertise, expanding its capabilities in the development of innovative cosmetic ingredients. The laboratory's know-how will be used by GREEN OLEO to develop its own line of cosmetic ingredients, while the newco Kialab New S.r.l., which houses the business unit, will continue to operate as an independent consulting firm for companies in the sector, from the formulation development of customised cosmetic products (such as skin care, hair care and make-up) to the optimisation of existing formulas, technical and regulatory support, research and development of functional ingredients, market analysis and marketing strategies.

At the same time, the acquisition allows the company to take possession of Sugarderm®, a patented cosmetic active ingredient with high added value. Sugarderm® is a blend of pure monosaccharides designed to promote deep hydration, improve skin barrier function, protect the skin from environmental stress and nourish the skin microbiota. Thanks to this integration, GREEN OLEO will be able to expand its range of sustainable cosmetic ingredients and accelerate the development of functional products for natural cosmetics.

Beatrice Buzzella, Chief Executive Officer: "This acquisition represents a fundamental step in building a solid platform for natural cosmetics: it allows us to integrate advanced technical expertise, enhance innovative ingredients such as Sugarderm® and strengthen our ability to develop high value-added, sustainable cosmetic products in line with international market needs. In a context that remains complex and uncertain, GREEN OLEO is demonstrating operational resilience and the ability to invest with strategic vision, strengthening the foundations for future growth."

Management KPIs as at 31 December 2025

The Board of Directors today approved the unaudited management KPIs as of 31 December 2025.

The 2025 financial year, constantly characterised by geopolitical uncertainties, tariff dynamics and regulatory impacts on supply chains, closed with a Value of Production of €73.3 million, up +1.6% compared to €72.1 million in 2024.

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Revenues decreased slightly (-2.1%) due to the decline recorded in Italy, partially offset by growth in revenues generated abroad. The performance of the personal care segment was significant, up +49% compared to 2024.

The positive change in inventories is mainly linked to the increase in volumes. In a context characterised by a waitand-see attitude on the part of customers, this trend reflects the Company's strategy of building up a stock of finished products in order to be able to respond promptly to spot orders, which are very frequent in contexts of great uncertainty.

¹The incidence of raw material costs on sales stood at 71.5%; the change compared to 2024 (68.6%) is related to the combined effect of the increase in raw material costs and the weakening of demand, which does not allow the increases in supply prices to be fully passed on to customers. In this context, the company continues to closely monitor the price trends of the various feedstocks being procured.

GREEN OLEO (GRN:IM – ISIN IT0005549768) is one of Europe's leading producers of fine oleochemicals from renewable and biodegradable sources. Based in Cremona, it was established in 2012 when the Buzzella family acquired the entire share capital of the company through the transfer of a business unit historically active since 1923 in oleochemical production and previously owned by Croda Cremona S.r.l. The company uses local raw materials, such as by-products from the food industry (mainly olive oil and animal fat), which undergo internal chemical processes such as splitting, distillation, separation, fractionation and hydrogenation, to obtain multiple oleochemical products such as distilled fatty acids with different matrices depending on the starting fat, stearic acids (stearines), oleic acid, glycerines, fatty acid derivatives (soaps) and esters. The Company operates in the Cremona plant, covering an area of 64,000 square metres (of which approximately 20,000 square metres are covered), where 90 people are employed, with an annual production capacity of 65,000 tonnes, of which 50,000 tonnes are fatty acids and glycerine and 15,000 tonnes are esters. The company's customers are industrial companies operating in a wide range of sectors, such as detergents, elastomers, candles, paints, rubber and tyres, personal care and cosmetics, which, through further specific processing for the target sector, manufacture the final products for consumers.

Press release available at and www.greenoleo.com

INVESTOR RELATIONS

GREEN OLEO | Raffaella Bianchessi | investor.relations@greenoleo.com | T +39 0372 487256 IRTOP Consulting | Maria Antonietta Pireddu | m.pireddu@irtop.com | T +39 02 45473884

FINANCIAL MEDIA RELATIONS

IRTOP Consulting | Domenico Gentile | d.gentile@irtop.com | T +39 02 45473884

EURONEXT GROWTH ADVISOR

EnVent Italia SIM S.p.A. | Via degli Omenoni 2, Milan | ega@envent.it

¹ Ratio between raw material, subsidiary and merchandise costs net of inventory changes and Production Value net of non-recurring components.