Interpump Group — Annual Report 2026

Apr 27, 2026

ANNUAL FINANCIAL REPORT 2025

ANNUAL FINANCIAL REPORT 2025

CONTENTS

		COMPOSITION OF CORPORATE BODIES	9
A.		REPORT ON OPERATIONS FOR 2025	11
	1.	PROFILE OF THE INTERPUMP GROUP	13
	2.	SIGNIFICANT EVENTS DURING THE YEAR	20
	3.	PERFORMANCE AND RESULTS OF THE GROUP	24
	4.	RISK FACTORS	34
	5.	OTHER INFORMATION	38
	6.	EVENTS OCCURRING AFTER THE CLOSE OF THE YEAR AND BUSINESS OUTLOOK	56
		SUSTAINABILITY REPORTING - CSRD	59
		ESRS 2 – GENERAL DISCLOSURES	61
		Prepara�on criteria	61
		Governance	68
		Strategy	75
		Management of Impacts, Risks, and Opportuni�es	95
		ENVIRONMENTAL INFORMATION	106
		ESRS E1 - CLIMATE CHANGE	117
		ESRS E2 - POLLUTION	134
		ESRS E3 - WATER AND MARINE RESOURCES	137
		ESRS E5 - RESOURCE USE AND CIRCULAR ECONOMY	144
		SOCIAL INFORMATION	152
		ESRS S1 - OWN WORKFORCE	152
		ESRS S2 - WORKERS IN THE VALUE CHAIN	173
		ESRS S4 - CONSUMERS AND END-USERS	179
		GOVERNANCE INFORMATION	185
		ESRS G1 - BUSINESS CONDUCT	185

B. CONSOLIDATED FINANCIAL STATEMENTS 195 1. CONSOLIDATED FINANCIAL STATEMENTS 196 2. EXPLANATORY NOTES 203 2.1 General informa�on 203 2.2 Consolida�on perimeter 203 2.3 Accoun�ng policies adopted 210 2.4 Business sector informa�on 228 2.5 Business combina�ons 234 2.6 Notes to the principal cap�ons in the statement of financial posi�on 247 2.7 Notes to the principal income statement cap�ons 275 2.8 Earnings per share 282 2.9 Informa�on on risks 283 2.10 Notes to the cash flow statement 290 2.11 Commitments 290 2.12 Transac�ons with related par�es 291 2.13 Events occurring a�er the close of the year 293 Annex 1: Certification of the consolidated financial statements pursuant to art. 81-(3) of Consob regulation no. 11971 of 14 May 1999, as amended 294

Annex 2: Attestation of the sustainability report pursuant to art. 81-(3), sub-section 1,
of Consob Regulation no. 11971 of 14 May 1999, as amended	295
Report of the Board of Statutory Auditors	296
Independent Auditors' Report on the consolidated financial statements	312
Independent Auditors' Report on the limited examination of the consolidated
sustainability report	321

C.	DRAFT		SEPARATE FINANCIAL STATEMENTS	327
			REPORT ON OPERATIONS	329
	1.		SIGNIFICANT EVENTS DURING THE YEAR	331
	2.		PERFORMANCE AND RESULTS OF THE PARENT COMPANY	334
	3.		RISK FACTORS	340
	4.		OTHER INFORMATION	343
	5.		EVENTS OCCURRING AFTER THE CLOSE OF THE YEAR AND BUSINESS OUTLOOK	348
	6.		PROPOSAL TO THE SHAREHOLDERS' MEETING	348
			DRAFT FINANCIAL STATEMENTS OF THE PARENT COMPANY	350
	1.		FINANCIAL STATEMENTS	351
			STATEMENT OF FINANCIAL POSITION	351
			INCOME STATEMENT	353
			COMPREHENSIVE INCOME STATEMENT	354
			CASH FLOW STATEMENT	355
			STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY	357
	2.		EXPLANATORY NOTES	358
		2.1	General informa�on	358
		2.2	Accoun�ng policies adopted	358
		2.3	Notes to the principal cap�ons in the statement of financial posi�on	371
		2.4	Notes to the principal income statement cap�ons	396
		2.5	Earnings per share	399
		2.6	Informa�on on risks	400
		2.7	Notes to the cash flow statement	406
		2.8	Commitments	406
		2.9	Transac�ons with related par�es	406
		2.10	Events occurring a�er the close of the year	406
		2.11	Proposal to the Shareholders' Mee�ng	407
			Annex 1: Atesta�on of the separate financial statements pursuant to art. 81-(3) of Consob regula�on no. 11971 of 14 May 1999, as amended	408
			Independent Auditors' Report on the separate financial statements of Interpump Group
		S.p.A.		409

COMPOSITION OF CORPORATE BODIES

Board of Directors	Fulvio Mon�pò	Executive Chairman
	Giovanni Tamburi (b)	Deputy Chairman
	Fabio Marasi (d)	Chief Executive Officer
	Antonia Di Bella (a) (c)	Independent Director
	Nicolò Dubini (a) (c)	Independent Director
	Marcello Margoto (b)	Independent Director Lead Independent Director
	Federica Meniche� (a) (b) (c)	Independent Director
	Roberta Pierantoni	Independent Director
	Rita Rolli (d)	Independent Director
	Anna Chiara Svelto (d)	Independent Director
Board of Statutory Auditors	Anna Maria Allievi	Chairman
	Mario Tagliaferri	Statutory Auditor
	Mirco Zucca	Statutory Auditor

Independent Auditors PricewaterhouseCoopers S.p.A.

(a) Member of the Control and Risks Commitee

(b) Member of the Remunera�on Commitee and the Nomina�on Commitee

(c) Member of the Related Party Transac�ons Commitee

(d) Member of the Sustainability Commitee

A. REPORT ON OPERATIONS FOR 2025

1. PROFILE OF THE INTERPUMP GROUP

Interpump Group S.p.A., an Italian company with headquarters in Sant'Ilario d'Enza (RE), is the world's leading manufacturer of high and very-high pressure pumps. Founded in 1977, leveraging the ingenuity and entrepreneurship of Fulvio Mon�pò, the Company is now listed on the Milan Stock Exchange in the Euronext Star Milan segment.

Via a long sequence of acquisi�ons, the business has expanded its presence in the hydraulic sector, becoming firmly established as one of the principal groups ac�ve in world markets. Over the years, the Interpump Group has in fact expanded its product por�olio, offering numerous solu�ons designed to sa�sfy market demand. Today, the products designed and developed by Group companies have mul�ple applica�ons in different contexts, encompassed within the Water-Je�ng and Hydraulic sectors.

The Water-Je�ng sector includes companies ac�ve in the tradi�onal core business of the Interpump Group, i.e. the produc�on and sale of plunger pumps rated from 1 to 2,000 HP (from 0.7 to 1,500 kW), and the related accessory components. Since 2017 the Water-Je�ng sector also includes companies engaged in the produc�on of special pumps, mixers, agitators, cleaning systems, valves and tanks for the food processing, chemicals, cosme�cs and pharmaceu�cal industries.

The Hydraulic sector, developed from 1997, includes companies ac�ve in the produc�on and sale of a con�nually expanding range of hydraulic components: from power take-offs to cylinders, from valves and direc�onal controls to hydraulic lines and fi�ngs, from gears to orbital motors and steering systems.

Today, the Group owns manufacturing and distribu�on subsidiaries in 36 countries, located in Europe and the rest of the world.

A. REPORT ON OPERATIONS FOR 2025

	Hydraulics
I Interpump Hydraulics SpA II Oleodinamica Panni Srl II Hydroven Srl Hydrocar Chile S.A. (90%) Muxilnterpump Weifu Hydr. Company Ltd (65%) $\equiv$ Interpump Hydraulics India Ltd Interpump Hydraulics Middle East FZE . I Interpump Hydraulics France Sarl Interpump South Africa Pty Ltd Interpump Hydraulics RUS I Interpump Hydraulics Peru Sac (90%) II Eurofluid Hydraulics S.r.l. (80%) II F.A.R.M.A. SRL F.A.R.M.A. USA Inc. • Interpump Hydraulics Brasil Ltd • Hidrover Equipmentos Hidraulicos Ltda (59%) Tutto Hidraulicos Ltda	T Transtecno Srl $\equiv$ Transtecno BV (51%) Transtecno Aandrijftechniek BV (51%) Transtecno Iberica (70%) I-I MA Transtecno SAPI de C.V. (70%) But Hangzhou Interpump Power Transmissions Walvoil SpA (65%) (35% remaining held by Interpump Hydraulics SpA) Walvoil Fluid Power Corporation BE Walvoil Fluid Power Korea Llc Walvoil Fluid Power (India) Pvt. Ltd (99,97%) (0,03% remaining held by Interpump Hydraulics India Ltd) I Walvoil Fluid Power France Sarl BM Walvoil Fluid Power Australasia I-I Walvoil Canada Inc. Malvoil Fluid Power (Dongguan) Co. Ltd
II Contarini Leopoldo Srl II Unidrò Contarini Sas Copa Hydrosistem Ood Example 13 Interpump Hydraulics (UK) Ltd	I-I Walvoil Fluid Power Mexico S.A. de C.V. White Drive Motors and Steering Sp. ZOO
BM Mega Pacific Pty Ltd Mega Pacific NZ Pty Ltd BE IMM Hydraulics Ltd ※ Bristol Hose Ltd ※ Alltube Engineering Ltd	White Drive Motors and Steering LLC White Drive Motors and Steering GmbH .
Muncie Inc. I Hydra Dyne Technology Inc. (75%) (14,99% remaining held by Interpump Group SpA) GS-Hydro U.S. Inc. I. I.M.M Hydraulics SpA Exercise IFS Germany GmbH I FGA Srl III IMM Hydro Est II IFS France Sarl II Tekno Tubi Srl Il Padoan Srl (65%) Padoan Chile Ltda Padoan Deutschland (70%) Ex Padoan Swiss SA Tubiflex Spa	I Interpump Piping GS Srl B GS-Hydro AB E GS-Hydro Denmark AS 器 GS-Hydro UK Ltd ■ GS-Hydro System GmbH ● GS-Hydro System Sp ZOO GS-Hydro Austria GmbH $\Box$ GS-Hydro S.A.U. E Suministros Franquesa S.A. GS-Hydro Benelux B.V. 136 GS-Hydro Korea Ltd. GS-Hydro Singapore Pte Ltd. GS-Hydro do Brasil S.H. Ltda
EXECUTE: IPG Mouldtech India PVT LTD (85%)	Reggiana Riduttori Srl Borghi Assali Srl (70%) BB RR Pacific PTY Ltd. RR Slovakia A.S. RR USA Inc. I+I RR Canada Inc. $=$ RR Holland BV RR France Sarl (95%) Interpump Antriebstechnik GmbH ·

A. REPORT ON OPERATIONS FOR 2025

FINANCIAL HIGHLIGHTS OF THE INTERPUMP GROUP

€/000	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021
Consolidated revenues	2,070,684	2,078,399	2,240,039	2,077,964	1,604,255
Foreign revenues	84%	85%	84%	84%	83%
EBITDA	461,964	456,622	536,725	492,337	379,757
EBITDA %	22.3%	22.0%	24.0%	23.7%	23.7%
EBIT (Operating profit)	336,564	337,814	428,819	384,004	295,048
EBIT %	16.3%	16.3%	19.1%	18.5%	18.4%
Consolidated net profit	209,709	228,470	277,516	269,749	198,519
Free cash flow	220,404	205,088	147,892	51,100	133,800
Net indebtedness 1	376,115	476,115	567,661	604,596	572,718
Consolidated shareholders' equity	2,110,101	2,019,337	1,802,904	1,566,110	1,339,664
Net indebtedness / EBITDA	0.81	1.04	1.06	1.23	1.51
Net capital expenditure (Capex)	98,752	135,250	164,948	129,479	106,726
Average headcount	9,463	9,310	9,325	8,721	8,433
ROE	9.9%	11.3%	15.4%	17.2%	14.8%
ROCE	13.5%	13.5%	18.1%	17.7%	15.4%
EPS - Euro	1.955	2.124	2.565	2.524	1.836
Dividend per share - Euro	0.350	0.330	0.320	0.300	0.280

Dividends refer to the year of formation of the distributed profit.

See Note 3.1 below for defini�ons of the indicators presented above.

¹ Inclusive of the debt related to the acquisi�on of investments.

€/000	31/12/2020	31/12/2019	31/12/2018	31/12/2017	31/12/2016
Consolidated revenues	1,294,363	1,368,618	1,279,167	1,086,547	922,818
Foreign revenues	85%	84%	83%	82%	83%
EBITDA	294,055	317,890	288,519	248,648	198,502
EBITDA %	22.7%	23.2%	22.60%	22.90%	21.50%
EBIT (Operating profit)	207,659	247,214	236,549	198,912	153,533
EBIT %	16.0%	18.1%	18.50%	18.30%	16.60%
Consolidated net profit	173,271	180,602	173,862	135,723	94,473
Free cash flow	203,769	124,824	82,183	93,552	89,947
Net indebtedness 2	332,186	425,100	331,866	323,808	300,024
Consolidated shareholders' equity	1,149,977	1,055,074	868,905	764,729	677,538
Net indebtedness / EBITDA	1.13	1.17	1.15	1.3	1.51
Net capital expenditure (Capex)	61,395	73,654	68,185	47,812	36,527
Average headcount	7,415	6,921	6,472	5,750	5,016
ROE	15.1%	17.1%	20.0%	17.7%	13.9%
ROCE	14.0%	16.7%	19.7%	18.3%	15.7%
EPS - Euro	1.596	1.699	1.619	1.257	0.884
Dividend per share - Euro	0.260	0.250	0.220	0.210	0.200

² Inclusive of the debt related to the acquisi�on of investments.

2. SIGNIFICANT EVENTS DURING THE YEAR

The global economy was unstable throughout 2025. The geopoli�cal tensions, caused by a mul�tude of ongoing conflicts and compounded by the trade tariff hikes (albeit mi�gated by recent agreements), have further heightened concerns about the prospects for growth. The revised IMF es�mates indicate a 3.3% rise in global GDP in 2025, 3.3% in 2026, and 3.2% in 2027. These sta�s�cs are influenced by the worldwide slowdown in trade, mainly due to the imposi�on of customs barriers, as offset by increasing investment in the technological sector, principally linked to AI.

These es�mates may be further constrained by the direct and indirect effects of evolving trade policies, which could dampen the prospects for the global economy over the medium term.

Infla�on is easing in the world's leading economies, except in the United States, where the new tariffs have raised the cost of imports. Worldwide, the rate of infla�on is expected to fall to 4.1% in 2025 and to 3.8% in 2026 (source: IMF).

Given the stabiliza�on of infla�on and the forecasts for growth, the principal central banks held interest rates steady during Q4 2025. The United States again provided the excep�on, with the Fed making three consecu�ve rate cuts (25 basis points each) in September, October and December, to a range between 3.50% and 3.75%, amid concerns about both the rate of infla�on and a slowdown in the jobs market.

The OECD forecasts for 2026 indicate a slight slowdown in global growth, given the risks associated with heightened trade and geopoli�cal tensions, with possible correc�ons in the financial markets linked to the technological sectors.

The macroeconomic parameters available for the leading economies indicate as follows:

• The Euro area economy has demonstrated resilience, despite the challenging interna�onal environment. GDP grew by 0.3% in real terms during Q3 2025, outpacing forecasts a�er the vola�lity experienced in the first half of the year. This instability was mainly due to the surge in trade ahead of the US tariff increases, and to the resul�ng uncertainty. The Euro area economy grew by 0.3 percentage points more in Q4 than in Q3, consistent with the results achieved in the third quarter. Domes�c demand is likely to remain the principal driver of growth there, sustained by increases in real wages and employment, given the stability of the jobs market with unemployment rates at historical lows. External demand is also expected to increase, now that trade policies are less uncertain, despite gradual emergence of the effects of the tariff increases. Infla�on should remain stable at around 2.1% in 2025, before easing to 1.9% in 2026 and 1.8% in 2027, and rising back to 2.0% in 2028. Based on the latest macroeconomic projec�ons, GDP growth forecasts have been revised up to 1.4% in 2025, 1.2% in 2026 and 1.4% in 2027, which should be maintained in 2028 (source: European Central Bank).
• In the United States, economic ac�vity slowed during 2025 (with forecast growth of 2%), a�er three years of robust expansion. US imports spiked strongly at the start of the year, since purchases from abroad were brought forward to avoid the expected tariff increases (which subsequently came into force on 2 April). The resul�ng accelera�on in interna�onal trade was however just a transitory phenomenon. The subsequent slowdown came in combina�on with less dynamic employment growth rate and the impact on prices of the tariff increases. Infla�on was stable through December 2025 at an annual rate of 2.7%, which remains above the stated objec�ve of 2%. Given signs of stagna�on in the jobs market and, to date, the modest impact of the tariff hikes on prices, the Federal Reserve con�nued to relax monetary policy during 2025, with three consecu�ve rate cuts to 3.50%-3.75% by the end of December. The latest es�mates indicate a decline in GDP growth from 2.8% in 2024 to 2.1% in 2025, followed by 2.4% in 2026 (source: Bank of Italy - OECD - Fed).

• In China, growth was essen�ally stable during 2025, hampered by the weakness of domes�c demand and the crisis of investment in the real estate market and in industrial ac�vity. In order to tackle the weakness of domes�c demand, the Chinese authori�es introduced a trade-in program during the year that included automobiles and consumer electronics. Exports weakened during Q2, especially to the United States, in view of the escala�on in tariff-related trade tensions. The announced hikes were later suspended un�l November 2026, a�er the United States and China reached agreement on mul�ple trade topics, including tariff reduc�ons. Despite the smaller contribu�on from exports to the USA, the increased exports to Asia, La�n America and Europe resulted in annualized economic growth of 5.2% in the first 3 quarters of 2025, with a forecast of 5.0% for 2025 overall and 4.5% in 2026. (source: ISTAT/OECD/IMF).

In early July, the US government threat to raise the tariff on imports from Europe to 30% on 1 August caused consterna�on. The US administra�on had already announced on 2 April 2025 a dras�c increase in tariffs on imports from almost every country, based on the size of their trade surpluses with the United States. Addi�onally, the deprecia�on of the dollar against the euro (losing about 13% of its value since the start of 2025), has acted as an extra implicit tariff and made opera�ng condi�ons more complex for European exporters. On 27 July 2025, the European Commission reached a framework agreement with the US government that fixes the standard tariff at 15%, as a replacement for those set earlier. Nevertheless, this is 13 percentage points higher than the effec�ve rate in force at the end of 2024. In turn, the European Union scrapped the retaliatory measures already approved, agreeing to eliminate the tariffs on intermediate goods imported from the USA, facilitate access to certain US agricultural exports that meet EU standards, and acquire US energy products totaling about USD 750 billion during the period through 2028. Implementa�on of this agreement is par�ally clouded by uncertain�es linked both to the need for approval from the European ins�tu�ons, s�ll not given at this �me, and to the risk of differences in interpreta�on.

The �ghtening of customs policies during 2025 has resulted in higher tariffs for certain categories of goods sold by the Group. That said, the percentage of Group turnover exported to the North American area is limited; in fact, the Group already has significant produc�on facili�es in the United States to support local demand, and these are not affected by the trade policies described above. Addi�onally, the Group has also taken countermeasures designed to absorb the tariff increases, while con�nuing to assess the developments arising from any new trade agreements.

Against this background, which remains cri�cal and marked by mul�ple disrup�ons, the Interpump Group s�ll managed to generate results in 2025 that were broadly in line with those achieved in 2024, remaining posi�ve in terms of revenues, margins and cash genera�on.

The limited exposure of the Interpump Group in countries involved in the military conflict in Ukraine is confirmed. Specifically, the Interpump Group earned revenues of € 21.0 million from customers in Russia, Belarus and Ukraine during 2025 (€ 17 million in 2024), with outstanding receivables at 31 December 2025 of € 1.5 million (€ 2.7 million at the end of 2024).

Compared with 2024, the consolida�on perimeter of the Water-Je�ng sector changed as follows in 2025:

• Hammelmann Endüstri Pompalari A.Ş., a newly-formed company, was consolidated for the first time from 1 January 2025;
• Alfa OBL America Inc., a newly-formed company, was consolidated for the first time from 1 May 2025;
• During Q2 2025, the Group acquired Nuova S.M. S.r.l., a company active in the processing and finishing of metals that has been consolidated using the equity method from June 2025;

• During Q2 2025 the Group exercised the option to purchase 10% of Servizi Industriali S.r.l. from the minority quotaholders, raising the percentage ownership from 80% to 90%;
• Lastly, following a reorganization within the Waikato group, the business activities of Waikato Milking Systems LP were transferred to Waikato Milking Systems Limited (previously known as "Waikato Holding Limited") with effect from 31 December 2025.

Compared with 2024, the consolida�on perimeter of the Hydraulic sector changed as follows in 2025:

• North American Manufacturing Inc. was absorbed by Muncie Inc. with effect from 1 January 2025;
• Innovativ Gummi Tech Srl was absorbed by I.M.M. Hydraulics Spa with effect from 1 January 2025;
• Interpump Hydraulics Middle East FZE was put into liquidation on 14 April 2025;
• During Q2 2025 the Group acquired the final 0.23% minority interest in Interpump Hydraulics France S.a.r.L and now holds the entire equity interest in that company;
• On 16 June 2025, Interpump Group announced the signature of a binding agreement to acquire, through its subsidiary Interpump Hydraulics S.p.A., 65% of the quota capital of Padoan S.r.l., a company specialized in the production of tanks for industrial vehicles and machinery, with effect from 1 July 2025. Founded in 1937 and based in Olmi di S. Biagio di Callalta (TV) with over 50 employees, the company closed 2024 with revenues of approximately € 15 million and an EBITDA margin exceeding 17%. The total enterprise value of Padoan was set at about € 16 million and "put & call" mechanisms have been defined so that Interpump Group can acquire the residual quotas from July 2030. The Group entered the tank sector back in 2011 with the acquisition of American Mobile Power, one of the leading US manufacturers and distributors of tanks for hydraulic installations in the industrial vehicles market. The acquisition of Padoan establishes an equally important presence in Europe. The company has been consolidated on a line-by-line basis from 1 July 2025, thus contributing to the consolidated results for six months;
• On 24 October 2025 Interpump Group announced the acquisition, through its subsidiary Hidrover Ltda, of the entire share capital of Tutto Hidráulicos Ltda, a company specialized in the hydraulic cylinder sector. This company, founded in 2008 and based in Caxias do Sul (Brazil) with over 110 employees, is expected to close 2025 with revenues of approximately € 12 million and an EBITDA margin of around 24%. The enterprise value of Tutto Hidráulicos was set at about € 12 million.

The Interpump Group entered the cylinders sector in 2008 thorugh the acquisitions of Contarini, Modenflex, Cover, Panni Oleodinamica and HS Penta, all operating in the same industry but with different, and therefore complementary, specializations. The acquisition in Canada of Hydra Dyne Tech in 2019 represented a further step in the internationalization process, which was followed, less than a year ago, with the acquisition in Brazil of Hidrover. The company has been consolidated on a line-by-line basis from 1 November 2025, thus contributing to the consolidated results for two months;

• On 4 November 2025 Interpump Group announced the acquisition, through its subsidiary Reggiana Riduttori S.r.l., of 70% of the quota capital of Borghi Assali S.r.l., a company specialized in the design and manufacturing of hydraulic and electric steering axles for industrial vehicles.

Founded in 1971 and based in Bomporto (MO, Italy), the company closed 2024 with revenues exceeding € 12 million and an EBITDA margin of approximately 15%. Borghi Assali was valued at about € 8 million (for 100%) and "put & call" mechanisms have been defined so that Interpump Group can acquire the residual quotas from October 2030. The activities of Borghi Assali fit perfectly into the power transmission sector: axles are complementary products to gearboxes and therefore expand the product range. The company has been consolidated on a

line-by-line basis from 1 November 2025, thus contributing to the consolidated results for two months;

• On 18 December 2025, Interpump Group announced the acquisition, through its subsidiary Interpump Hydraulics S.p.a., of the entire quota capital of F.A.R.M.A. S.r.l., a company specialized in the design and manufacturing of components parts for tanks. Founded in 1975 and based in Medicina (BO, Italy), the company is expected to close 2025 with revenues of almost € 15 million and an EBITDA margin of around 25%. Farma was valued at about € 22 million (for 100%). Current management will ensure operational continuity, consistent with the philosophy of the Interpump Group. Farma's activities integrate seamlessly with Interpump Hydraulics' products, enabling the company to offer its customers increasingly comprehensive hydraulic kits. The balance sheet of the company has been consolidated at year end, while the economic effects of the acquisition will be recognized with effect from 1st January 2026;
• Lastly, the liquidation of RR India Pvt. Ltd. was completed during Q4 2025.

With regard to the purchase of treasury shares:

• The treasury share purchase program was completed on 9 April 2025. Announced to the market on 24 March 2025, following authorization at the Shareholders' Meeting held on 26 April 2024, this program resulted in the purchase of 250,000 treasury shares at an average price of € 31.8391 each, with a total outlay of € 8 million.
• On 29 April 2025, the Shareholders' Meeting authorized the purchase of a maximum number of treasury shares not exceeding 10% of the share capital of the parent company. In the context of that authorization, on 16 May 2025 a mandate was granted for the purchase of 250,000 treasury shares between 19 May and 18 August 2025. This purchase was completed prior to 30 June 2025 at an average price of € 34.5371 each, with a total outlay of € 8.6 million.

The dual purpose of these programs was to guarantee not only implementation of the share-based incentive plans arranged in favor of the directors, employees and key collaborators of the Group, but also the disposal and/or exchange of treasury shares, in the context of acquisitions and/or agreements with strategic partners that support the development of the Group.

3. PERFORMANCE AND RESULTS OF THE GROUP

3.1 ALTERNATE PERFORMANCE MEASURES

The Group uses several alternate performance measures that are not iden�fied as accoun�ng parameters in the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union, in order to allow beter evalua�on of the trend of economic opera�ons and the Group's financial posi�on. Such indicators are also tools that assist the directors in iden�fying opera�ng trends and in making decisions on investments, resource alloca�on and other business maters. Therefore, the measurement criterion applied by the Group may differ from the criteria adopted by other groups and hence may not be comparable with them. Such alternate performance indicators are based exclusively on historical Group data and measured in conformity with the Guidelines on Alterna�ve Performance Measures issued by ESMA/2015/1415 and adopted by Consob with communica�on no. 92543 of 3 December 2015. These indicators refer only to performance in the accoun�ng period illustrated in this Report on Opera�ons and the compara�ve periods and not to expected performance and must not be taken to replace the indicators required by the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union. Finally, the alternate measures are processed consistently and with uniformity of defini�on and representa�on for all periods for which financial informa�on is included in this Annual Financial Report.

The performance indicators used by the Group are defined as follows:

• Earnings/(Losses) before interest and tax (EBIT): Revenues plus Other opera�ng income less Opera�ng costs (Cost of sales, Distribu�on costs, General and administra�ve expenses, and Other opera�ng costs);
• Earnings/(Losses) before interest, tax, deprecia�on and amor�za�on (EBITDA): EBIT plus deprecia�on, amor�za�on, writedowns and provisions;
• Net financial posi�on: the sum of Financial debts and Bank debts less Cash and cash equivalents;
• Net indebtedness: the sum of the Net financial posi�on and debts for the acquisi�on of equity investments;
• Capital expenditure (CAPEX): the sum of investments in tangible and intangible fixed assets, net of divestments;
• Free cash flow: the cash flow available for the Group, defined as the difference between the cash flow from opera�ng ac�vi�es and the cash flow invested in tangible and intangible fixed assets;
• Capital employed: calculated as the sum of shareholders' equity and net financial posi�on, including debts for the acquisi�on of equity investments;
• Return on capital employed (ROCE): EBIT / Capital employed;
• Return on equity (ROE): Net profit / Shareholders' equity.

The Group's income statement is prepared by func�onal area (also called the "cost of sales" method). This format is deemed to be more representa�ve than its "type of expense" counterpart, which is nevertheless included in the explanatory notes to the Annual Financial Report. The chosen format is consistent with internal repor�ng and the business management processes adopted.

In order to enhance comparability with the economic and financial data reported in the prior period, certain economic informa�on is provided both at constant perimeter (consolida�on perimeter for the prior period, including companies acquired in the prior period for the same number of months, while excluding new acquisi�ons in the current period) and net of exchange differences (constant perimeter, applying the spot and average rates used in the prior period).

The cash flow statement is prepared using the indirect method.

3.2 CONSOLIDATED INCOME STATEMENT

€/000	2025	2024
Revenues	2,070,684	2,078,399
Cost of sales	(1,339,909)	(1,364,753)
Gross profit	730,775	713,646
% of revenues	35.3%	34.3%
Other net revenues	41,871	36,714
Distribution expenses	(185,174)	(173,890)
General and administrative expenses	(241,005)	(227,118)
Other operating costs	(9,903)	(11,538)
EBIT	336,564	337,814
% of revenues	16.3%	16.3%
Financial income	27,271	35,296
Financial expenses	(65,326)	(62,380)
Equity method contribution	339	302
Profit for the year before taxes	298,848	311,032
Income taxes	(89,139)	(82,562)
Consolidated profit for the year	209,709	228,470
% of revenues	10.1%	11.0%
Attributable to:
Shareholders of Parent	208,122	227,051
Minority shareholders of subsidiaries	1,587	1,419
Consolidated profit for the year	209,709	228,470
EBITDA	461,964	456,622
% of revenues	22.3%	22.0%
Shareholders' equity	2,110,101	2,019,337
Net financial position	291,099	409,044
Debts for the acquisition of equity investments	85,016	67,071
Capital employed	2,486,216	2,495,452
ROCE	13.5%	13.5%
ROE	9.9%	11.3%
Basic earnings per share	1.955	2.124

3.3 REVENUES

Revenues totaled € 2,071 million in 2025, down by 0.4% from € 2,078 million in 2024 (-2.7% at constant perimeter and -0.7% also net of exchange differences). Analysis by business sector shows that revenues in the Hydraulic Sector were 3.7% lower than in 2024, while those in the Water-Je�ng Sector were 6.7% higher.

Revenues by business sector and geographical area (meaning customer loca�on) were as follows:

€/000	Italy	Europe (Italy excluded)	North America*	Far East and Pacific Area	Rest of the World	Total
2025
Hydraulics	243,735	482,608	330,580	134,723	163,307	1,354,953
Water Jetting	78,864	245,745	188,775	136,289	66,058	715,731
Total	322,599	728,353	519,355	271,012	229,365	2,070,684
2024
Hydraulics	241,247	488,258	388,496	146,907	142,586	1,407,494
Water Jetting	69,206	231,800	187,580	114,402	67,917	670,905
Total	310,453	720,058	576,076	261,309	210,503	2,078,399
2025/2024 percentage changes
Hydraulics	1.0%	-1.2%	-14.9%	-8.3%	14.5%	-3.7%
Water Jetting	14.0%	6.0%	0.6%	19.1%	-2.7%	6.7%
Total	3.9%	1.2%	-9.8%	3.7%	9.0%	-0.4%
2025/2024 percentage changes at constant perimeter
Hydraulics	+0.1%	-2.6%	-15.1%	-8.5%	-1.9%	-6.1%
Water Jetting	+1.5%	+4.7%	+0.8%	+16.1%	-4.3%	+4.3%
Total	+0.4%	-0.2%	-9.9%	+2.3%	-2.7%	-2.7%

*= revenues principally earned in the United States of America.

3.4 PROFITABILITY

The cost of sales accounted for 64.7% of revenues (65.7% in 2024). Produc�on costs represented 27.5% of revenues (26.8% in 2024) and totaled € 568.9 million (€ 556.4 million in 2024, which however did not include the costs of Shanghai PuPeng Flow Technology Co. and Inoxpa China Flow Technology Co., Ltd for 3 months, AllTube Engineering Ltd for 4 months, Alfa Valvole S.r.l. for 5 months, H.S. S.r.l. for 6 months and Hidrover Equipamentos Hidráulicos Ltda for 11 months).

The purchase cost of raw materials and components sourced on the market, including changes in inventories, accounted for 37.2% of revenues (38.9% in 2024) and totaled € 771.0 million (€ 808.3 million in 2024, which however did not include the costs of Shanghai PuPeng Flow Technology Co. and Inoxpa China Flow Technology Co., Ltd for 3 months, AllTube Engineering Ltd for 4 months, Alfa Valvole S.r.l. for 5 months, H.S. S.r.l. for 6 months and Hidrover Equipamentos Hidráulicos Ltda for 11 months).

Distribu�on costs were 4.7% higher at constant perimeter (+6.9% net of exchange differences) with respect to 2024, with an incidence on revenues of 9.0% (8.4% in 2024).

General and administra�ve expenses were 3.7% higher at constant perimeter (+5.4% also net of exchange differences) with respect to 2024, with an incidence on revenues of 11.6% (10.9% in 2024).

Payroll costs totaled € 487.7 million (€ 469.7 million in 2024, which however did not include the costs of Shanghai PuPeng Flow Technology Co. and Inoxpa China Flow Technology Co., Ltd for 3 months, AllTube Engineering Ltd for 4 months, Alfa Valvole S.r.l. for 5 months, H.S. S.r.l. for 6 months and Hidrover Equipamentos Hidráulicos Ltda for 11 months). At constant perimeter, payroll costs amounted to € 478.9 million, up by 2.0% due to a 1.1% rise in per capita cost and an increase in the average headcount by 80.5 employees.

The total number of Group employees in 2025 averaged 9,463 (9,390 at constant perimeter) compared to 9,310 persons in 2024. The increase in the average headcount during 2025 can be broken down as follows: +59 in Europe, -107 in the US and +201 in the Rest of the World.

In addi�on, the Group employed 1,588 temporary workers during the year (1,534 in 2024) at a cost of € 27.0 million (€ 28.8 million in 2024).

EBITDA totaled € 462.0 million (22.3% of revenues) compared with € 456.6 million in 2024 (22.0% of revenues).

€/000	2025	% on total revenues*	2024	% on total revenues*	Change
Hydraulics	266,212	19.6%	279,817	19.8%	-4.9%
Water Jetting	195,752	27.2%	176,805	26.2%	+10.7%
Total	461,964	22.3%	456,622	22.0%	+1.2%

The following table sets out EBITDA by business sector:

* = Total revenues include those to other Group companies in the other sector, while the revenues analyzed previously are exclusively those external to the Group (see Note 2.4 in the Explanatory notes). Accordingly, for consistency, the percentage is calculated on total revenues rather than on those reported previously.

EBIT was € 336.6 million (16.3% of revenues) compared with € 337.8 million in 2024 (16.3% of revenues), reflec�ng a decrease of 0.4 percentage points.

The tax rate for the year was 29.8% (26.5% in 2024); notably in this regard, certain subsidiaries enjoyed non-repeatable tax benefits in the prior year.

Net profit for 2025 was € 209.7 million (€ 228.5 million in 2024) reflec�ng a decrease of 8.2%.

Basic earnings per share declined from € 2.124 in 2024 to € 1.955 in 2025.

Non-annualized ROCE was 13.5% (13.5% in 2024 as well).

Non-annualized ROE was 9.9% (11.3% in 2024).

3.5 GROUP STATEMENT OF FINANCIAL POSITION

Capital employed eased from € 2,495.5 million at 31 December 2024 to € 2,486.2 million at 31 December 2025.

The following statement of financial posi�on is classified in terms of the sources and applica�ons of funds:

€/000	31/12/2025	%	31/12/2024	%
Trade receivables	397,253		385,963
Net inventories	678,984		700,614
Other current assets	69,390		91,028
Trade payables	(233,564)		(237,371)
Current taxes payable	(36,447)		(28,360)
Current portion of provisions for risks and charges	(8,862)		(8,858)
Other current liabilities	(133,001)		(143,066)
Net working capital	733,753	29.5	759,950	30.5
Net intangible and tangible fixed assets	844,608		853,747
Goodwill	865,841		837,798
Other intangible fixed assets	74,060		76,896
Other non-current assets	52,798		53,089
Liabilities for employee benefits	(21,995)		(21,292)
Non-current portion of provisions for risks and charges	(12,860)		(13,136)
Other non-current liabilities	(49,989)		(51,600)
Total net fixed assets	1,752,463	70.5	1,735,502	69.5
Total capital employed	2,486,216	100	2,495,452	100
Financed by:
Group shareholders' equity	2,098,608		2,008,352
Non-controlling interests	11,493		10,985
Total shareholders' equity	2,110,101	84.9	2,019,337	80.9
Cash and cash equivalents	(415,704)		(392,637)
Bank debts	33,688		33,236
Interest-bearing financial debts (current portion)	232,031		241,919
Debts for the acquisition of equity investments (current portion)	25,277		5,725
Total current financial debts (liquid funds)	(124,708)	(5.0)	(111,757)	(4.5)
Interest-bearing financial debts (non-current portion)	441,084		526,526
Debts for the acquisition of equity investments (non current portion)	59,739		61,346
Total non-current financial debts	500,823	20.1	587,872	23.6
Total sources of financing	2,486,216	100	2,495,452	100

Interpump Group's equity structure is balanced, with a leverage index of 0.18 (0.24 at 31 December 2024). The leverage index is calculated as the ra�o between the short and medium/long-term financial debts and shareholders' equity inclusive of non-controlling interests.

Goodwill was subjected to an impairment test at 31 December 2025.

3.6 CAPITAL EXPENDITURE

Expenditure on property, plant and machinery totaled € 136.7 million, of which € 17.5 million through the acquisi�on of investments (€ 169.2 million in 2024, of which € 16.6 million through the acquisi�on of investments). The addi�ons during the year are analyzed in the following table:

€/000	2025	2024
Increases for the purchase of fixed assets used in the production process	90,821	127,823
Increases for machinery rented to customers	13,574	11,254
Leased assets	14,782	13,534
Capex	119,177	152,611
Increases through the acquisition of equity investments	17,486	16,599
Total increases in the year	136,663	169,210

The increases in 2025 include € 42.9 million invested in land and buildings (€ 52.9 million in 2024).

The difference with respect to the capital expenditure reported in the cash flow statement is due to the �ming of payments.

Increases in intangible assets totaled € 12.0 million, of which € 2.2 million through the acquisi�on of equity investments (€ 19.5 million in 2024, including € 10.4 million through the acquisi�on of equity investments), mainly with regard to the Padoan Group and to Tuto Hidráulicos Ltda.

3.7 CASH FLOW

The change in net financial posi�on breaks down as follows:

€/000	2025	2024
Opening net financial position	(409,044)	(486,497)
Adjustment: opening net financial position of companies not consolidated line by line at the end of the prior year	-	-
Adjusted opening net financial position	(409,044)	(486,497)
Liquidity generated by operations	347,449	307,198
Principal portion of finance lease installments (IFRS 16)	(20,375)	(19,749)
Cash flow generated (absorbed) by the management of operating capital	(12,194)	30,331
Cash flow generated (absorbed) by other current assets and liabilities	(1,302)	19,549
Capital expenditure on tangible fixed assets	(91,774)	(129,186)
Proceeds from the sale of tangible fixed assets	2,686	2,980
Increase in other intangible fixed assets	(9,664)	(9,044)
Financial income received	6,831	7,435
Other	(1,253)	(4,426)
Free cash flow	220,404	205,088
Acquisition of equity investments, including received indebtedness and net of treasury stock assigned	(52,435)	(92,103)
Dividends paid	(36,198)	(34,986)
Disbursements for purchase of treasury shares	(16,594)	(10,337)
Proceeds from the sale of treasury shares to stock option beneficiaries	4,754	581
Principal portion of finance lease installments (IFRS 16)	20,375	19,749
Principal portion of new leasing contracts arranged (IFRS 16)	(14,714)	(13,534)
Remeasurement and early close-out of leasing contracts (IFRS 16)	(1,091)	3,822
Changes in other financial assets	(349)	(526)
Loans repaid (granted) by/to non-consolidated subsidiaries	(241)	-
Net cash generated (used)	123,911	77,754
Exchange differences	(5,966)	(301)
Closing net financial position	(291,099)	(409,044)

Net liquidity generated by opera�ng ac�vi�es totaled € 347.5 million (€ 307.2 million in 2024), reflec�ng an increase of 13.1%. Free cash flow increased to about € 220.4 million in 2025 (from € 205.1 million in 2024), despite the con�nued implementa�on of investment plans and the absorp�on of working capital.

The net financial posi�on totals € 291.1 million (€ 409.0 million at 31 December 2024), primarily a�er paying dividends of € 36.2 million, purchasing treasury shares for € 16.6 million, and making net payments of € 52.4 million to acquire equity investments and residual minority interests.

Net indebtedness, including payables and commitments, determined in accordance with ESMA guidance 32-382-1138 and included in Consob no�ce no. 5/21, comprises:

€/000	31/12/2025	31/12/2024	01/01/2024
Cash and cash equivalents	415,704	392,637	334,483
Bank debts (advances and STC amounts)	(33,688)	(33,236)	(52,469)
Interest-bearing financial debts (current portion)	(232,031)	(241,919)	(264,911)
Interest-bearing financial debts (non-current portion)	(441,084)	(526,526)	(503,600)
Net financial position	(291,099)	(409,044)	(486,497)
Commitments for the purchase of equity investments (current portion)	(25,277)	(5,725)	(38,354)
Commitments for the purchase of equity investments (non current portion)	(59,739)	(61,346)	(42,810)
Total net indebtedness	(376,115)	(476,115)	(567,661)

The Net indebtedness/EBITDA ra�o amounted to 0.81, with an improvement in comparison with last year (1.04). There were no outstanding hedge contracts at 31 December 2025.

4. RISK FACTORS

The Group is exposed to the normal risks and uncertain�es of any business ac�vity. The markets in which the Group operates are world niche markets in many cases, with limited dimensions and few significant compe�tors. These characteris�cs represent a significant barrier to entry by new compe�tors, given the major benefits of economies of scale and the doub�ul economic returns available to poten�al compe�tors. The Interpump Group enjoys a posi�on of world leadership in the fields of high and very-high pressure pumps and power take-offs: these posi�ons accentuate the risks and uncertain�es of the business venture.

The following is an illustra�on of the financial risk factors to which the Group is exposed:

4.1 MARKET RISKS

4.1.1 Exchange rate risk

The Group has subsidiaries in 36 countries and translates financial statements denominated in 27 currencies other than the euro. Accordingly, the Group is principally exposed to the risk deriving from the transla�on of those financial statements.

The Group operates at an interna�onal level and mainly produces in the countries in which the des�na�on markets are located; accordingly, revenues in local currency are largely absorbed by costs also incurred in that currency. However, the Group is also exposed, to a lesser extent, to the exchange rate risk origina�ng from revenues denominated in currencies other than those in which the related costs were incurred.

In order to manage exchange rate risk generated by forecasts of future commercial transac�ons stated in a currency other than the Group's func�onal currency (euro), Group companies can use plain vanilla forward contracts or purchase op�ons, when deemed appropriate. The counterpar�es of these contracts are primary interna�onal financial ins�tu�ons with high ra�ngs.

There were no outstanding macro or hedging contracts at 31 December 2025.

In par�cular, the Group is exposed in rela�on to revenues denominated in US dollars, Bri�sh pounds, Australian dollars, Canadian dollars, Chinese renminbi and Indian Rupees from commercial transac�ons with third-party customers and Group companies. It is current Group policy not to hedge recurring commercial transac�ons, taking out exchange risk hedges only in the event of those that are nonrecurring, either in terms of amount or of the frequency with which they occur.

In rela�on to financial exposures, € 11.8 million of intercompany loans were disbursed and € 6.3 million collected during 2025 in currencies other than those u�lized by the debtor or creditor companies. From a financial standpoint, these exposures are eliminated on consolida�on of the financial statements, since they derive from rela�ons with subsidiaries. At 31 December 2025 loans granted in currencies other than those used by the debtor or creditor companies totaled € 61.0 million, down by € 3.0 million since 31 December 2024. Once again in 2025, the Group made the strategic decision not to hedge these exposures.

4.1.2 Interest-rate risk

Interest-rate risk derives from medium/long-term loans granted at floa�ng rates. It is currently Group policy not to arrange hedges, in view of the limited average dura�on of the exis�ng bank loans (around 3.5 years).

4.1.3 Credit risk

The Group does not have any significant credit concentra�ons. Group policy is to sell to customers only a�er having evaluated their creditworthiness and, therefore, within predetermined credit limits. Historically, the Group has not incurred any major losses for bad debts.

4.1.4 Liquidity risk

Prudent management of liquidity risk involves the reten�on of an appropriate level of cash on hand and sufficient access to lines of credit. Because of the dynamic nature of the Group's business with the associated frequent acquisi�ons, it is Group policy to have access to stand-by lines of credit that can be u�lized at very short no�ce.

4.1.5 Price and cash flow risk

The Group is subject to constant changes in metal prices, especially steel, cast iron, stainless steel, iron, aluminum, brass and bronze. Group policy is to hedge this risk where possible by way of medium-term commitments with suppliers, or by means of stocking policies when prices are low, or by entering into agreements with customers to transfer the risk to them.

The vola�lity of raw material prices during 2025 differed depending on the sector. The prices charged for steel (both stainless and for reinforcement and restora�on purposes) and cast iron remained stable overall. Aluminum prices followed an irregular patern, with a fall in the summer months that was followed by marked recovery at year end. The situa�on regarding copper, brass and cobalt was more cri�cal, with marked rises during the final quarter given the tensions affec�ng global demand and supply chains. During the year, the Group some�mes decided to purchase larger quan��es in order to guarantee the availability of the materials needed for produc�on purposes.

Considerable uncertainty is expected in 2026, principally due to the recent tariffs and entry in force of the Carbon Border Adjustment Mechanism (CBAM), which will impact the cost of non-EU imports and make it harder to define stable pricing policies.

Further, the Group constantly monitors the price trend of these raw materials, seeking to adopt the most effec�ve policies that minimize the exposure to this risk.

The Group does not hold listed securi�es that would be subject to stock market fluctua�ons. The revenues and cash flow of Group opera�ng ac�vi�es are not influenced by changes in interest genera�ng assets.

The Group is monitoring developments carefully with regard to the import tariffs imposed on countries by the United States, and the counter-measures taken by them, analyzing the poten�al impacts on the business and studying the ac�ons to be taken to mi�gate their poten�al adverse effects.

4.1.6 Climate change risk

With regard to climate change, the Interpump Group does not fall with the scope of Direc�ve 2003/87/EC (as amended most recently by Direc�ve (EU) 2018/410), which introduced and governs the European Union Emissions Trading System (EU ETS). The ETS is the principal tool adopted by the European Union to reach the CO² reduc�on targets established for the principal industrial sectors and avia�on. Although the Interpump Group is not included in the industrial sectors covered by the ETS, the Group is nevertheless commited to combat climate change. The 2023-2025 ESG Plan, approved by the Board of Directors on 5 October 2022, includes ac�ons in support of the ESG strategy that are intended to have a significant, concrete impact on the development of the business. In par�cular, the Plan not only adopts environmental protec�on and social inclusion objec�ves, but also strengthens the correla�on between achievement of the ESG Plan objec�ves and the remunera�on of top management.

In par�cular, the ac�ons completed in 2025 were designed to help the Group reach its decarboniza�on targets for 2030 and 2050. Group strategy envisages the reduc�on of emissions via increased recourse to cer�fied green electricity, the installa�on of new renewable energy plants and the op�miza�on of energy consump�on within the organiza�on.

The path of sustainable growth and environmental protec�on taken by the Interpump Group also means devising processes that support the circular economy of products, the more efficient management of water resources and the development of technical solu�ons for the eco-design of products. The en�re process will be achieved inter alia by leveraging throughout the organiza�on the best prac�ces developed in specific areas by each component part of the Group.

Given the above analyses and, in par�cular, the assessments made of the physical risks (acute and chronic) at Group loca�ons, the resul�ng poten�al impacts on assets and revenues were not considered probable and, accordingly, no specific provisions or asset writedowns were recorded at 31 December 2025.

Again in view of the above, the forecasts reflected in the 2026-2030 business plans used for the impairment tests were not significantly affected by the above physical, climate-related risks but, nevertheless, were prepared in a prudent manner that contains the expected level of future cash flows.

The Group is also poten�ally exposed to risks deriving from the impacts of future, more restric�ve laws and regula�ons governing energy efficiency and climate change, that might result in increased opera�ng costs.

4.1.7 Geo-poli�cal risk

The interna�onal macroeconomic environment con�nues to reflect a high level of uncertainty, caused by the geo-poli�cal tensions and conflicts in various areas of the world, not least the Middle East.

These tensions intensified during 2025 following episodes of instability in the Gulf area and growing fric�on between Iran, the USA, Israel and other interna�onal players. As a consequence, the energy markets became more vola�le and fears for global infla�on increased. The geo-poli�cal situa�on has escalated further in early 2026, with the outbreak of conflict involving Iran and other regional and interna�onal powers. These dynamics could indirectly impact global market trends and the industrial sectors in which the Group operates, with possible adverse effects on the availability and cost of raw materials, supply chain efficiencies, interna�onal logis�cs and, not least, energy prices and exchange rates.

The Group con�nues to monitor geo-poli�cal and macroeconomic developments with care, assessing the poten�al direct and indirect effects should current conflicts escalate further, even though these are difficult to quan�fy at present. Where appropriate, the Group takes steps to mi�gate the poten�al adverse impacts, including via geographical diversifica�on of the sources of supply, stronger rela�ons with alternate suppliers and careful management of opera�ng and financial risks.

5. OTHER INFORMATION

5.1 CORPORATE GOVERNANCE

In rela�on to corporate governance, the model adopted by Interpump Group S.p.A. is based on the provisions of the Corporate Governance Code promoted by Borsa Italiana S.p.A., published in January 2020, to which Interpump Group has adhered. The report on corporate governance and the ownership structure can be found in the Corporate Governance sec�on of the website www.interpumpgroup.it.

The following table provides informa�on on the number of shares held by the directors, statutory auditors, and key management personnel, as required by the combined provisions of art. 123-(2), subsec�on 1.c), and art. 123-(3), subsec�on 4, TUF:

Name	Number of shares held at 31/12/2024	Number of shares purchased and/or subscribed for in 2025	Number of shares sold in 2025	Number of shares held at 31/12/2025
Fulvio Montipò	1,555,233	-	-	1,555,233
Fabio Marasi	-	60,000	58,393	1,607
Key management personnel	1,032	5,100	5,000	1,132
Statutory auditors	-	-	-	-

Leila Mon�pò e Sorelle S.A.p.A. holds 73.08% of the share capital of Gruppo IPG Holding S.p.A., which in turn holds 25,501,799 shares in Interpump Group S.p.A., equal to 23.422% of the share capital. The other 26.92% interest in Gruppo IPG Holding S.p.A. is held by Tamburi Investment Partners S.p.A., in which Giovanni Tamburi (Deputy Chairman of the Board of Directors of Interpump Group S.p.A.) is the Chairman of the Board of Directors and Chief Execu�ve Officer.

Leila Mon�pò e Sorelle S.A.p.A., formed on 6 November 2020, holds a controlling interest pursuant to art. 2359, subsec�on 2, of the Italian Civil Code in Gruppo IPG Holding S.p.A. and, accordingly, is required to prepare consolidated financial statements since the exemp�on clauses envisaged in art. 27 of Decree 127 dated 9 April 1991: the financial statements are prepared under the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union.

From FY 2021, Gruppo IPG Holding S.p.A. is no longer required to prepare consolidated financial statements since Leila Mon�pò e Sorelle S.A.p.A. was formed on 6 November 2020 and is subject to that obliga�on, being the parent company of Gruppo IPG Holding S.p.A., owning 73.08% of its share capital. Nevertheless, Gruppo IPG Holding S.p.A. has not elected to apply that exemp�on and con�nues to prepare consolidated financial statements.

Leila Mon�pò e Sorelle S.A.p.A. does not carry out management and coordina�on ac�vi�es in rela�on to Gruppo IPG Holding S.p.A. and is also not subject to any management and coordina�on ac�vi�es.

Gruppo IPG Holding S.p.A. does not carry out any management or coordina�on ac�vi�es in rela�on to Interpump Group S.p.A. and is also not subject to any management and coordina�on ac�vi�es.

The resolu�on adopted by the Board of Directors of Interpump Group S.p.A. on 12 June 2008 acknowledges that Interpump Group S.p.A. is not subject to management or coordina�on by Gruppo IPG Holding S.p.A. because:

• the shareholder has no means or facili�es for the execu�on of such ac�vi�es, having no employees or other personnel capable of providing support for the ac�vi�es of the Board of Directors;
• the shareholder does not prepare the budgets or business plans of Interpump Group S.p.A.;
• the shareholder does not issue any direc�ves or instruc�ons to its subsidiary, nor does it require to be informed beforehand or to approve either its most significant transac�ons or its rou�ne administra�on;
• there are no formal or informal commitees or work groups in existence, formed of representa�ves of Gruppo IPG Holding and representa�ves of the subsidiary.

At the date of this report there were no changes in rela�on to the condi�ons stated above.

In the context of its business ac�vi�es and with a view to the constant improvement of its long-term business strategies, the Group has always sought to recognize sustainability as a key factor in the crea�on of value, both internally and for the community and the environment, having regard for the real differences in each country where Group companies operate.

The Group draws inspira�on from and has adopted the OECD Guidelines for mul�na�onal enterprises and the United Na�ons Guiding Principles for business and human rights, as well as the Interna�onal Labor Organisa�on (ILO) conven�ons and the principles embodied in the UN Global Compact.

In addi�on to the compliance regula�on men�oned above, over the years the Group has prepared a set of internal Guidelines and Policies, communicated to all subsidiaries and updated periodically, comprising:

• the Code of Ethics;
• the Guidelines and Polices on an�-corrup�on, OHS and the environment, human rights and diversity, equity and inclusion, included in the Global Compliance Programs ("GCP");
• the Organiza�on, Management and Control Model ("231 Model") pursuant to Decree 231/2001, which includes a "Whistleblowing Procedure" that explains how to submit and process reports on actual or alleged infringements of the principles and rules specified in the Code of Ethics, the Organiza�on, Management and Control Model pursuant to Decree 231/2001, Group policies and procedures and, more broadly, the applicable laws and regula�ons.

5.2 STOCK OPTION PLANS

With the aim of mo�va�ng Group management and promo�ng par�cipa�on in the goal of value crea�on for shareholders, the following stock op�on plans exist at 31 December 2025: one approved by the Shareholders' Mee�ng of 30 April 2019 (2019-2021 plan), one approved by the Shareholders' Mee�ng of 29 April 2022 (2022-2024 plan), and one approved by the Shareholders' Mee�ng of 29 April 2025 (2025-2027 plan).

The Shareholders' Mee�ng held on 30 April 2019 approved a stock op�on plan, known as the "Interpump Incentive Plan 2019-2021", which envisages gran�ng a maximum of 2,500,000 op�ons at an exercise price of Euro 28.4952 each and, for op�ons granted a�er 30 April 2020, at the official price quoted on the Italian Stock Exchange on the day prior to the grant date. At the mee�ng held on 27 June 2019, the Board of Directors granted 1,800,000 op�ons to Execu�ve Chairman Fulvio Mon�pò, while 418,500 op�ons were granted to other beneficiaries during 2019. A further 20,000 op�ons were granted to other beneficiaries on 3 June 2020. Overall, therefore, a total of 2,238,500 op�ons were granted. The op�ons were exercisable from 30 June 2022 to 31 December 2025 and, accordingly, this plan is now closed.

On 18 March 2024, the Board of Directors deemed it appropriate to iden�fy the persons in certain key roles within the Company and the Group as "Key Management Personnel", recalling that, pursuant to the Consob Regula�on on Related-Party Transac�ons, adopted by Resolu�on no. 17221 dated 12 March 2010, such persons are those who "have the power and responsibility, directly or indirectly, to plan, manage, and control the activities of the company".

	Number of options
Options granted at 1 January	80,776
Options granted in the year	-
Options exercised in the year	(80,776)
Options canceled in the year	-
Total options granted at 31 December	-

The changes in the 2019-2021 plan up to 31 December 2025 were as follows:

	Option exercise price per share	Vesting period	Number of options granted, start of year	Number of options canceled in the year	Number of options exercised in the year	Number of options exercisable at year end
Directors of the Parent Company
Fulvio Montipò	€ 28.4952	01.07.2022 - 31.12.2025	-	-	-	-
Fabio Marasi	€ 28.4952	01.07.2022 - 31.12.2025	-	-	-	-
Key management personnel	€ 27.9868	01.07.2022 - 31.12.2025	5,000	-	(5,000)	-
Other beneficiaries	€ 28.4952	01.07.2022 - 31.12.2025	75,776	-	(75,776)	-
Total			80,776	-	(80,776)	-

The beneficiaries of these op�ons were as follows:

The Shareholders' Mee�ng held on 29 April 2022 approved a new stock op�on plan, known as the "Interpump Incentive Plan 2022-2024", which envisages gran�ng a maximum of 2,250,000 op�ons at an exercise price of Euro 38.6496 each and, for op�ons granted a�er 29 April 2023, at the official price quoted on the Italian Stock Exchange on the day prior to the grant date. The mee�ng of the Board of Directors held on the same date granted 1,620,000 op�ons to Fulvio Mon�pò, the Execu�ve Chairman. On, respec�vely, 23 May 2022, 20 October 2022 and 28 April 2023, a further 288,000 (of which 45,000 to Chief Execu�ve Officer Fabio Marasi), 6,000 and 35,000 op�ons (of which 15,000 to Chief Execu�ve Officer Fabio Marasi) were granted to other beneficiaries (including those granted to the Key Management Personnel iden�fied at the above-men�oned Board mee�ng held on 18 March 2024). Overall, a total of 1,949,000 op�ons have therefore been granted. The op�ons can be exercised between 30 June 2025 and 31 December 2028. A total of 2,000 op�ons were canceled in 2025 (21,200 op�ons canceled in 2024).

The changes in the 2022-2024 plan up to 31 December 2025 were as follows:

	Number of options
Options granted at 1 January	1,918,800
Options granted in the year	-
Options exercised in the year	(63,500)
Options canceled in the year	(2,000)
Total options granted at 31 December	1,853,300

The beneficiaries of these op�ons were as follows:

	Option exercise price per share	Vesting period	Number of options granted, start of year	Number of options canceled in the year	Number of options exercised in the year	Number of options exercisable at year end
Directors of the Parent Company
Fulvio Montipò	€ 38.6496	01.07.2025 - 31.12.2028	1,620,000	-	-	1,620,000
Fabio Marasi	€ 38.6496	01.07.2025 - 31.12.2028	60,000	-	(60,000)	-
Key management personnel	€ 38.6496	01.07.2025 - 31.12.2028	80,000	-	-	80,000
Other beneficiaries	€ 38.6496	01.07.2025 - 31.12.2028	158,800	(2,000)	(3,500)	153,300
Total			1,918,800	(2,000)	(63,500)	1,853,300

The Shareholders' Mee�ng held on 29 April 2025 approved a new stock op�on plan, the "Interpump Incentive Plan 2025/2027", that envisages the grant of up to 2,450,000 op�ons, at an exercise price of € 30.4397. These may be exercised on one or more occasions between 30 June 2028 and 31 December 2031, for amounts each �me of not less than 0.25% of the op�ons granted to each beneficiary. The mee�ng of the Board of Directors held on 15 May 2025 granted 1,530,000 op�ons, of which 1,140,000 to Fulvio Mon�pò, the Execu�ve Chairman, 160,000 to Chief Execu�ve Officer Fabio Marasi, and 230,000 to the Key Management Personnel iden�fied at the Board mee�ng held on 18 March 2024 (see above). A further 204,000 op�ons were granted to other beneficiaries on 26 May 2025. Overall, a total of 1,734,000 op�ons have therefore been granted.

The changes in the 2025-2027 plan up to 31 December 2025 were as follows:

	Number of options
Options granted at 1 January	-
Options granted in the year	1,734,000
Options exercised in the year	-
Options canceled in the year	-
Total options granted at 31 December	1,734,000

204,000 - - 204,000

A. REPORT ON OPERATIONS FOR 2025

	Option exercise price per share	Vesting period	Number of options granted in the year	Number of options canceled in the year	Number of options exercised in the year	Number of options exercisable at year end
Directors of the Parent Company
Fulvio Montipò	€ 30.4397	01.07.2028 - 31.12.2031	1,140,000	-	-	1,140,000
Fabio Marasi	€ 30.4397	01.07.2028 - 31.12.2031	160,000	-	-	160,000
Key management personnel	€ 30.4397	01.07.2028 -	230,000	-	-	230,000

The beneficiaries of these op�ons were as follows:

Other beneficiaries € 30.4397

5.3 RELATIONS WITH GROUP COMPANIES AND TRANSACTIONS WITH RELATED PARTIES

-

Total 1,734,000 - - 1,734,000

31.12.2031

01.07.2028

31.12.2031

In compliance with the provisions of the Consob regula�on adopted with resolu�on no. 17221 of 12 March 2010, as amended, Interpump Group S.p.A. has adopted the procedure that regulates related party transac�ons. This procedure was approved for the first �me by the Board of Directors on 10 November 2010 and has been con�nuously updated in accordance with the regulatory provisions in force �me by �me and adapted to reflect current prac�ces. In par�cular, on 28 June 2021 the Board of Directors approved a new version that takes account of the effects of Italian Legisla�ve Decree 49/2019, which transposed into Italian law the provisions of Direc�ve (EU) 2017/828 ("Shareholders' Rights II") with regard to related par�es, as well as the related amendments made by CONSOB on 10 December 2020 to the Issuers' Regula�on and the Regula�on governing Related Party Transac�ons. On 4 August 2023 the Board of Directors approved a new version of the procedure that reflects the latest regulatory changes, of a minor nature, made since the amendments men�oned above. Lastly, on 6 August 2025 the Board of Directors approved new changes to the procedure that included inter alia the introduc�on of a significantly more detailed descrip�on of the du�es and responsibili�es of the various par�es involved, of the rules governing Related Party Transac�ons in urgent cases, and of the condi�ons for exemp�ng rou�ne transac�ons carried out on market or standard terms. These changes also streamlined the governance of Related Party Transac�ons of Lesser Significance, assigning responsibility for their approval to the Chairman of the Board of Directors, in the context and to the extent of the powers granted to him, rather than to the Board as a whole. The new version can be found in the Corporate Governance sec�on of the Interpump website (www.interpumpgroup.it).

Informa�on on transac�ons carried out with related par�es is given in Note 2.12 of the Explanatory notes to the Consolidated financial statements. Overall, there were no atypical or unusual transac�ons

with related par�es during 2025 and the transac�ons that did take place, in the ordinary course of business by the Group companies concerned, were conducted on an arm's-length basis.

5.4 TREASURY SHARES

At 31 December 2025 the Parent company held 2,494,087 shares, represen�ng 2.291% of capital, acquired at an average unit cost of Euro 37.96064.

5.5 RECONCILIATION WITH THE FINANCIAL STATEMENTS OF THE PARENT COMPANY

The consolidated shareholders' equity and net profit atributable to the owners of the Parent company are reconciled below with the equivalent amounts reported in the separate financial statements:

	Shareholders' equity at 31/12/2025	Net profit for 2025	Shareholders' equity at 31/12/2024
Parent Company's financial statements	803,575	124,714	719,020
Difference between the book value of consolidated investments and their valuation according to the equity method	1,298,536	83,452	1,292,791
Greater book value of a building owned by the Parent Company	156	(5)	161
Elimination of Parent Company's intercompany profits	(3,659)	(39)	(3,620)
Total consolidation adjustments	1,295,033	83,408	1,289,332
Consolidated shareholders' equity and net profit attributable to the owners of the Parent Company	2,098,608	208,122	2,008,352

5.6 RESEARCH, DEVELOPMENT AND DESIGN WORK

The Group considers research and development ac�vi�es as one of the main factors of success and a source of compe��ve advantage on interna�onal markets. Once again, the Group invested heavily during 2025 to place new product ranges on the market, op�mize and customize exis�ng products, and develop new technological and circuit solu�ons.

In par�cular, new pumps and related accessories for the Water-Je�ng sector are principally designed and developed by Interpump Group S.p.A. 2025 saw the comple�on of 2 projects for the development of new pumps, as well as the start of 8 new projects. By contrast, new very high pressure pumps and systems for the Water-Je�ng sector are mainly developed by Hammelmann GmbH. In 2025, this German subsidiary completed two projects rela�ng to the development of safety modules for manual high-pressure pistols and very high-pressure pumps, while a project rela�ng to pasteuriza�on pumps remains in progress.

R&D work in the Hydraulic sector was mainly carried out by Walvoil S.p.A. in 2025. In par�cular, projects to digitalize the hydraulic system were pursued (introduc�on of mechatronic command modules for hydraulic direc�onal control valves and of electronic controllers for axial piston pumps) with a view to offering adap�ve interconnected intelligent systems that deliver direct, func�onal and energy-saving benefits for industrial vehicles; in addi�on, systems so�ware supported by advanced electronic

components has been developed to expand the catalog of human-machine-interfaces and electronic controllers. These innova�ons are branded "HDS - Hydraulic Digital Solutions" by the company.

Group strategy over the next few years is to con�nue with high levels of expenditure in the area of research and development in order to assure renewed impetus to structured growth. Research costs have been capitalized in accordance with their mul�-annual usefulness. Product development costs capitalized in 2025 amounted to € 2,814 thousand (€ 2,977 thousand in 2024), while the costs for design personnel charged to the income statement totaled € 38,463 thousand (€ 36,681 thousand in 2024).

5.7 GROUP COMPANIES

The Interpump Group is especially ac�ve in making acquisi�ons, including of small and medium-sized companies, which is why it comprises a large number of companies, including small enterprises, and has a direct presence in 36 countries.

At 31 December 2025 the Interpump Group is led by Interpump Group S.p.A., which holds direct and indirect controlling interests in 129 companies (9 of which are dormant and/or in liquida�on) opera�ng in two business segments (the Hydraulic Sector and the Water Je�ng Sector).

The Parent Company, with registered offices in Sant'Ilario d'Enza, mainly produces high and very high pressure plunger pumps for water, as well as high pressure cleaners, which are classified in the Water Je�ng Sector.

With regard to the regulatory requirements envisaged in art.15 of the Consob Market Regula�on (previously art. 36, updated by Consob Decision 20249 dated 28 December 2017), on the condi�ons for lis�ng the parent companies of subsidiaries formed in or governed by the laws of countries that are not EU member states, it is confirmed with respect to the situa�on at 31 December 2024 that there have not been any changes in the companies of importance to the consolidated financial statements, given their inclusion in the audit plan.

The main data of the consolidated subsidiaries are summarized in the table below, whereas for the Parent Company the data are provided in the financial report atached hereto.

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Alfa Valvole S.r.l. (B)	1,560	100.00%	Casorezzo (MI)	Design and distribution of volumetric pumps (Water-Jetting sector)	29.8	16.2	99	56
Alfa OBL America Inc. (E)	88	85.00%	Austin - USA	Design and distribution of volumetric pumps (Water-Jetting sector)	0.4	-	-	-
GP Companies Inc.	1,854	100.00%	Minneapolis - USA	Distributor of high-pressure pumps (Water Jetting sector)	60.8	60.3	65	63
Hammelmann Australia Pty Ltd	472	100.00%	Melbourne - Australia	Sale of very high pressure systems and pumps (Water-Jetting sector)	16.3	16.3	28	27
Hammelmann Corporation Inc.	39	100.00%	Miamisburg - USA	Sale of very high pressure systems and pumps (Water-Jetting sector)	32.2	30.2	32	32
Hammelmann France	50	100.00%	Etrichè – France	Sale of very high pressure systems and pumps (Water-Jetting sector)	7.6	9.7	9	7
Hammelmann GmbH	25	100.00%	Oelde - Germany	Very high pressure systems and pumps (Water Jetting sector)	203.2	184.0	488	456
Hammelmann Pumps Systems Co Ltd	871	90.00%	Tianjin - China	Sale of very high pressure systems and pumps (Water-Jetting sector)	13.2	12.9	31	27
Hammelmann S. L.	500	100.00%	Zaragoza - Spain	Sale of very high pressure systems and pumps (Water-Jetting sector)	7.0	5.4	9	9
Hammelmann Swiss GmbH	89	100.00%	Dudingen - Switzerland	Sale of very high pressure systems and pumps (Water-Jetting sector)	2.2	1.8	3	2
Hammelmann Endüstri Pompalari A.Ş.	75	100.00%	Istanbul - Türkiye	Sale of very high pressure systems and pumps (Water-Jetting sector)	4.7	-	4	-
I.mec S.r.l.	100	70.00%	Reggio Emilia	Production of production of mechanical sifters (Water-Jetting sector)	12.6	13.3	47	52
Improved Solutions Unipessoal Ltda (Portugal)	760	100.00%	Vale de Cambra – Portugal	Production and sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	9.4	9.0	58	53
Inoxihp S.r.l.	119	52.72%	Nova Milanese (MI)	Production and sale of very high pressure systems and pumps (Water-Jetting sector)	17.4	21.6	58	57
Inoxpa S.A.U.	23,000	100.00%	Banyoles – Spain	Production and sale of equipment for the food processing, chemicals, cosmetics and	71.5	64.7	258	249

A. REPORT ON OPERATIONS FOR 2025

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
				pharmaceuticals industries (Water-Jetting sector)
Inoxpa India Private Ltd	6,779	100.00%	Pune - India	Production and sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	20.9	15.8	107	100
Inoxpa France SaS	2,071	100.00%	Chambly - France	Production and sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	11.9	11.3	30	30
Inoxpa Solutions Moldova	317	66.67%	Chisinau - Moldova	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	2.5	3.0	28	27
Inoxpa Colombia SAS	133	100.00%	Bogotá - Colombia	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	7.7	7.1	24	23
Inoxpa Italia S.r.l.	100	100.00%	Mirano (VE)	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	6.1	4.7	16	16
Inoxpa Skandinavien A/S	134	100.00%	Erritsø - Denmark	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	2.5	2.5	5	5
Inoxpa South Africa Proprietary Ltd	104	100.00%	Gauteng - South Africa	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	6.9	4.3	20	18
Inoxpa Special Processing Equipment Co. Ltd	1,647	100.00%	Jianxing – China	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	9.6	7.8	6	6
Shanghai PuPeng Flow Technology Co. Ltd. (A)	1,170	60.00%	Shanghai - China	Production and sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	3.8	2.5	13	14

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Inoxpa China Flow Technology Co. Ltd. (A)	1,536	60.00%	Shanghai - China	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	9.7	5.4	31	17
Inoxpa (UK) Ltd	1,942	100.00%	Eastbourne - United Kingdom	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	2.0	3.0	5	4
Inoxpa Ukraine	113	100.00%	Kiev – Ukraine	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	0.6	0.6	4	4
Inoxpa USA Inc.	1,426	100.00%	Santa Rosa - USA	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	6.5	4.2	9	9
Inoxpa LTD	1,435	70.00%	Podolsk - Russia	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	16.9	12.4	69	58
Inoxpa Mexico S.A. de C.V.	309	100.00%	Mexico City - Mexico	Sale of equipment for the food processing, chemicals, cosmetics and pharmaceuticals industries (Water-Jetting sector)	1.9	1.4	5	5
NLB Corporation Inc.	12	100.00%	Detroit - USA	Production and sale of very high pressure systems and pumps (Water-Jetting sector)	91.0	98.9	245	246
Pioli S.r.l.	10	100.00%	Reggio Emilia	Galvanic treatment of metals (Water-Jetting sector)	4.1	3.8	34	28
Servizi Industriali S.r.l.	100	90.00%	Ozzano Emilia (BO)	Sale of centrifugal separators (Water-Jetting sector)	7.2	7.3	27	26
SIT S.p.A.	105	88.00%	S.Ilario d'Enza (RE)	Drawing, shearing and pressing sheet metal (Water-Jetting sector)	3.5	3.2	18	18
Waikato Milking Systems Limited (NZ)	27,591	100.00%	Hamilton - New Zealand	Design, production and sale of mechanized milking systems (Water-Jetting sector)	-	-	-	-
Waikato Milking Systems L.P. (NZ)	46,803	100.00%	Auckland - New Zealand	Design, production and sale of mechanized milking systems (Water-Jetting sector)	24.6	23.1	91	86
Waikato Milking Systems Lease Ltd	-	100.00%	Auckland - New Zealand	Design, production and sale of mechanized milking systems (Water-Jetting sector)	-	-	-	-
Waikato Milking Systems USA LLC	-	100.00%	Verona - USA	Design, production and sale of mechanized milking systems (Water-Jetting sector)	8.8	6.8	10	12

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Waikato Milking Systems UK Limited	-	100.00%	Shrewsbury - United Kingdom	Design, production and sale of mechanized milking systems (Water-Jetting sector)	2.0	2.0	4	3
Waikato Milking Systems Ireland Ltd	1	100.00%	Dublin - Ireland	Design, production and sale of mechanized milking systems (Water-Jetting sector)	0.9	0.7	2	3
Interpump Hydraulics S.p.A.	2,632	100.00%	Sala Bolognese (BO)	Production and sale of power take-offs and hydraulic pumps (Hydraulic sector)	100.0	106.1	300	305
Borghi Assali S.r.l. (G)	100	70.00%	Bomporto (MO)	Design and production of hydraulic and electric steering axles for industrial vehicles (Hydraulic sector)	1.2	-	7	-
Contarini Leopoldo S.r.l.	47	100.00%	Lugo (RA)	Production and sale of hydraulic cylinders (Hydraulic sector)	25.0	23.6	100	105
Unidrò Contarini S.a.s.	8	100.00%	Barby - France	Production and sale of hydraulic cylinders (Hydraulic sector)	5.5	5.7	14	15
Copa Hydrosystem Ood	3	100.00%	Troyan - Bulgaria	Production and sale of hydraulic cylinders (Hydraulic sector)	9.1	9.3	138	150
F.A.R.M.A. S.r.l.	2,022	100.00%	Fossatone di Medicina (BO)	Production and sale of components for storage tanks (Hydraulic Sector)	-	-	-	-
F.A.R.M.A. USA Inc.	43	100.00%	Birmingham - USA	Sale of components for storage tanks (Hydraulic sector)	-	-	-	-
Hydrocar Chile S.A.	129	90.00%	Santiago - Chile	Sale of hydraulic pumps and power take-offs (Hydraulic sector)	8.8	8.5	49	50
Hydroven S.r.l.	200	100.00%	Tezze sul Brenta (VI)	Sale of ancillary products for industrial vehicles, hydraulic pumps and power take-offs (Hydraulic sector)	26.6	28.0	59	58
Interpump Hydraulics Brasil Ltda	15,126	100.00%	Caxias do Sul - Brazil	Production and sale of power take-offs, hydraulic pumps and cylinders (Hydraulic sector)	24.1	24.2	177	164
Interpump Hydraulics France S.a.r.l.	76	100.00%	Ennery - France	Sale of hydraulic pumps and power take-offs (Hydraulic sector)	4.9	4.6	13	13
Interpump Hydraulics India Private Ltd	682	100.00%	Hosur - India	Production and sale of power take-offs and hydraulic pumps (Hydraulic sector)	14.0	20.0	131	131

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Interpump South Africa PTY Ltd	-	100.00%	Johannesburg - South Africa	Sale of ancillary products for industrial vehicles, hydraulic pumps and power take-offs (Hydraulic sector)	2.9	4.5	29	30
Eurofluid Hydraulics S.r.l.	100	80.00%	Albinea (RE)	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	19.4	18.4	77	77
Interpump Hydraulics (UK) Ltd.	13	100.00%	Kidderminster United Kingdom	Sale of hydraulic pumps and power take-offs (Hydraulic sector)	20.0	20.8	105	89
H.S. S.r.l. (C)	99	100.00%	Sulbiate (MB)	Production and sale of hydraulic systems (Hydraulic sector)	3.5	2.5	24	13
Hidrover Equipamentos Hidráulicos Ltda. (D)	10,107	59.00%	Flores da Cunha - Brazil	Production and sale of hydraulic cylinders (Hydraulic sector)	23.2	1.2	146	12
Mega Pacific Pty Ltd	335	100.00%	Newcastle - Australia	Sale of hydraulic products (Hydraulic sector)	18.2	20.9	43	43
Mega Pacific NZ Pty Ltd	557	100.00%	Mount Maunganui - New Zealand	Sale of hydraulic products (Hydraulic sector)	1.3		5	5
Muncie Power Prod. Inc.	784	100.00%	Muncie - USA	Hydraulic pumps and power take-offs (Hydraulic sector)	144.0	144.9	504	436
Hydra Dyne Technology Inc.	80	89.99%	Ingersoll - Canada	Production and sale of hydraulic cylinders, valves and rotary unions (Hydraulic sector)	24.6	24.9	146	152
Padoan S.r.l. (F)	100	65.00%	Olmi di S. Biagio di Callalta (TV)	Production and sale of storage tanks for industrial vehicles and machinery (Hydraulic Sector)	7.7	-	21	-
Padoan Suisse SA (F)	107	100.00%	San Vittore (Switzerland)	Production and sale of storage tanks for industrial vehicles and machinery (Hydraulic Sector)	1.3	-	3	-
Padoan Deutschland GmbH (F)	100	70.00%	Mönchengla dbach - Germany	Production and sale of storage tanks for industrial vehicles and machinery (Hydraulic Sector)	0.9	-	3	-
Oleodinamica Panni S.r.l.	2,000	100.00%	Tezze sul Brenta (VI)	Production and sale of hydraulic cylinders (Hydraulic sector)	53.7	59.9	270	273

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Wuxi Interpump Weifu Hydraulics Company Ltd	2,095	65.00%	Wuxi - China	Production and sale of hydraulic pumps and power take-offs (Hydraulic sector)	9.3	10.1	51	53
IMM Hydraulics S.p.A.	520	100.00%	Atessa (CH)	Production and sale of hydraulic hoses and fittings (Hydraulic sector)	76.8	74.4	408	387
IFS France S.a.r.l.	162	100.00%	Strasbourg - France	Sale of hydraulic hoses and fittings (Hydraulic sector)	2.7	2.9	10	8
Interpump Fluid Solutions Germany GmbH	52	100.00%	Meinerzhagen - Germany	Sale of hydraulic hoses and fittings (Hydraulic sector)	5.9	8.2	14	17
IMM Hydro Est	3,155	100.00%	Catcau Cluj Napoca - Romania	Production and sale of hydraulic hoses and fittings (Hydraulic sector)	15.6	13.8	187	180
FGA S.r.l.	10	100.00%	Fossacesia (CH)	Surface treatments (Hydraulic sector)	1.5	1.6	13	13
Tekno Tubi S.r.l.	100	100.00%	Terre del Reno (FE)	Production and sale of rigid and flexible hydraulic lines (Hydraulic sector)	18.0	17.8	85	90
Tubiflex S.p.A.	515	100.00%	Orbassano (TO)	Production and sale of flexible hoses (Hydraulic sector)	26.5	24.6	124	121
Walvoil S.p.A.	7,692	100.00%	Reggio Emilia	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	218.0	250.7	1,316	1,340
Walvoil Fluid Power Corp.	137	100.00%	Tulsa - USA	Sale of hydraulic valves and directional controls (Hydraulic sector)	58.4	70.1	74	76
Walvoil Fluid Power (India) Pvt Ltd	4,803	100.00%	Bangalore - India	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	58.0	59.2	336	342
Walvoil Fluid Power Korea Llc	453	100.00%	Pyeongtaek – South Korea	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	15.4	15.6	67	70
Walvoil Fluid Power France Sarl	10	100.00%	Vritz - France	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	-	-	5	4
Walvoil Fluid Power Australasia	7	100.00%	Melbourne - Australia	Agent for the sale of hydraulic valves and directional controls (Hydraulic sector)	-	-	2	2
Walvoil Canada Inc.	76	100.00%	Terrebonne Quebec - Canada	Sale of hydraulic valves and directional controls (Hydraulic sector)	6.9	7.1	18	19

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Walvoil Fluid Power Dongguan Co. Ltd	3,720	100.00%	Dongguan - China	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	23.0	22.0	146	142
IPG Mouldtech India PVT Ltd	298	85.00%	Coimbatore - India	Smelting of ferrous metals, cast iron and aluminum (Hydraulic sector)	7.8	7.5	109	111
Reggiana Riduttori S.r.l.	6,000	100.00%	S. Polo d'Enza (RE)	Production and sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	100.6	100.5	228	234
RR USA Inc.	1	100.00%	Boothwin USA	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	38.7	45.8	26	26
RR Canada Inc.	1	100.00%	Vaughan Canada	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	4.9	5.7	6	7
RR Holland BV	19	100.00%	Oosterhout - Netherlands	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	8.5	8.4	13	13
RR France S.a r.l.	400	95.00%	Thouare sur Loire - France	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	3.4	3.4	8	9
RR Slovakia A.S.	340	100.00%	Zvolen - Slovakia	Production and sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	1.3	1.2	30	27
RR Pacific Pty	249	100.00%	Victoria - Australia	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)	4.6	5.1	8	7
Transtecno S.r.l.	100	100.00%	Anzola dell'Emilia (BO)	Production and sale of gears and ratiomotors (Hydraulic sector)	60.5		149	138
Hangzhou Interpump Power Transmission Co. Ltd	575	100.00%	Hangzhou - China	Production and sale of gears and ratiomotors (Hydraulic sector)	39.2	38.0	174	170
Transtecno Iberica the Modular Gearmotor S.A.	203	70.00%	Gava - Spain	Sale of gears and ratiomotors (Hydraulic sector)	5.1	4.1	13	12
MA Transtecno S.A.P.I. de C.V.	124	70.00%	Apodaca - Mexico	Sale of gears and ratiomotors (Hydraulic sector)	4.3	5.1	26	24

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
Transtecno BV	18	51.00%	Amersfoort - Netherlands	Sale of gears and ratiomotors (Hydraulic sector)	4.7	4.0	7	7
Transtecno Aandrijftechniek - Netherlands	-	51.00%	Amersfoort - Netherlands	Sale of gears and ratiomotors (Hydraulic sector)	1.2	1.0	1	1
Tutto Hidráulicos Ltda (G)	2,529	100.00%	Caxias do Sul - Brazil	Production and sale of hydraulic cylinders (Hydraulic sector)	1.4	-	16	-
White Drive Motors and Steering Sp. z o.o.	33,254	100.00%	Wroclaw - Poland	Production and sale of orbital motors and steering systems (Hydraulic sector)	87.6	86.3	435	502
White Drive Motors and Steering, LLC	86,070	100.00%	Hopkinsville - USA	Production and sale of hydraulic valves and directional controls (Hydraulic sector)	42.8	68.3	171	253
Interpump Piping GS S.r.l.	10	100.00%	Reggio Emilia	Piping holding company (Hydraulic sector)	-	-	-	-
GS-Hydro Singapore Pte Ltd	624	100.00%	Singapore	Design, production and sale of piping systems (Hydraulic sector)	1.2	2.3	5	6
GS-Hydro Korea Ltd.	1,892	100.00%	Busan - South Korea	Design, production and sale of piping systems (Hydraulic sector)	10.3	11.2	41	38
GS-Hydro Piping Systems (Shanghai) Co. Ltd.	2,760	100.00%	Shanghai - China	Design, production and sale of piping systems (Hydraulic sector)	6.7	6.9	52	48
GS-Hydro Benelux B.V.	18	100.00%	Hendrik Ido Ambacht - Netherlands	Design, production and sale of piping systems (Hydraulic sector)	8.3	8.8	22	20
GS-Hydro Austria GmbH	40	100.00%	Pashing - Austria	Design, production and sale of piping systems (Hydraulic sector)	5.7	7.1	25	26
GS-Hydro Sp z o.o. - Poland	1,095	100.00%	Gdynia - Poland	Design, production and sale of piping systems (Hydraulic sector)	4.1	4.2	22	27
GS-Hydro Denmark AS	67	100.00%	Kolding - Denmark	Design, production and sale of piping systems (Hydraulic sector)	5.7	4.1	15	14
GS-Hydro S.A.U (Spain)	90	100.00%	Las Rozas - Spain	Design, production and sale of piping systems (Hydraulic sector)	13.5	12.8	80	62
Suministros Franquesa S.A.	160	100.00%	Lleida - Spain	Assembly and sale of hydraulic hoses, fittings and other components (Hydraulic sector)	1.8	1.5	11	11
GS-Hydro U.S. Inc.	9,903	100.00%	Houston - USA	Design, production and sale of piping systems (Hydraulic sector)	1.9	2.0	4	5

Companies consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity	Revenues €/million 31/12/2025	Revenues €/million 31/12/2024	Average number of employees 2025	Average number of employees 2024
GS-Hydro do Brasil Sistemas Hidr. Ltda	252	100.00%	Rio de Janeiro - Brazil	Design, production and sale of piping systems (Hydraulic sector)	1.8	1.8	9	9
GS-Hydro UK Ltd	5,095	100.00%	Aberdeen - United Kingdom	Design, production and sale of piping systems (Hydraulic sector)	20.1	20.7	89	93
GS-Hydro Ab (Sweden)	120	100.00%	Kista - Sweden	Design, production and sale of piping systems (Hydraulic sector)	1.4	2.0	5	4
GS-Hydro Hong Kong Ltd	1	100.00%	Hong Kong	Design, production and sale of piping systems (Hydraulic sector)	1.0	0.3	-	-
Hi-Tech Enviro Solutions Limited	-	100.00%	Auckland - New Zealand	Dormant (Water-Jetting sector)	-	-	-	-
WMS GP Limited (NZ)	-	100.00%	Hamilton - New Zealand	Dormant (Water-Jetting sector)	-	-	-	-
Interpump Hydraulics Middle East FZE	1,226	100.00%	Dubai - United Arab Emirates	in liquidation (Hydraulic sector)	-	-	1	2
White Drive Motors and Steering GmbH	25	100.00%	Parchim - Germany	in liquidation (Hydraulic sector)	-	0.1	2	8
GS-Hydro System GmbH (Germany)	179	100.00%	Witten - Germany	in liquidation (Hydraulic sector)	-	-	1	1
AllTube Engineering Ltd	351	100.00%	Daventry - United Kingdom	Dormant (Hydraulic sector)	-	0.7	-	11
Padoan Chile Ltda	32	100.00%	Santiago (Chile)	Dormant (Hydraulic sector)	-	-	-	-
IMM Hydraulics Ltd	-	100.00%	Kidderminst er - United Kingdom	Dormant (Hydraulic sector)	-	-	-	-
Bristol Hose Ltd	-	100.00%	Bristol - United Kingdom	Dormant (Hydraulic sector)	-	-	-	-

A) = Revenues for 9 months in 2024

• B) = Revenues for 7 months in 2024
• C) = Revenues for 6 months in 2024
• D) = Revenues for 1 month in 2024
• E) = Revenues for 8 months in 2025
• F) = Revenues for 6 months in 2025

G) = Revenues for 2 months in 2025

Companies not consolidated line by line	Share capital €/000	Percentage control at 31/12/2025	Location	Main activity
General Pump China	111	100.00%	Ningbo – China	Sale of components (Water-Jetting sector)
Interpump Hydraulics Perù	318	90.00%	Lima - Peru	Sale of hydraulic pumps and power take-offs (Hydraulic sector)
Interpump Hydraulics RUS	172	100.00%	Moscow - Russia	Sale of hydraulic pumps and power take-offs (Hydraulic sector)
Hammelmann Vostok	86	100.00%	Moscow - Russia	Sale of very high pressure systems and pumps (Water-Jetting sector)
Interpump Antriebstechnik GmbH	25	100.00%	Stuttgart - Germany	Sale of power transmission systems: planetary gears, ratiomotors and drive wheels (Hydraulic sector)
Nuova S.M. S.r.l.	10	100.00%	Reggio Emilia	Metal finishing treatments (Water Jetting Sector)
Walvoil Fluid Power Mexico S.A. de C.V.	249	100.00%	Apodaca - Mexico	Production and sale of hydraulic valves and directional controls (Hydraulic sector)

6. EVENTS OCCURRING AFTER THE CLOSE OF THE YEAR AND BUSINESS OUTLOOK

No atypical or unusual transac�ons have been carried out subsequent to 31 December 2025 that would call for changes to these consolidated financial statements.

On 17 February 2026, in the context of the plan to purchase treasury shares authorized at the Shareholders' Mee�ng held on 29 April 2025 pursuant to art. 144-(2) of Consob Regula�on 11971/1999, Interpump Group S.p.A. launched a program to purchase a total of 500,000 treasury shares on the MTA, organized and managed by Borsa Italiana S.p.A., between 17 February and 16 May 2026, at a maximum price of € 60.00 per share and, therefore, with a maximum outlay of € 30 million. For the purposes of implemen�ng this buy-back program, on 16 February 2026 the Company granted a specific mandate to Banca Akros S.p.A. that terminated on 11 March: on that date, Interpump Group S.p.A. held 2,985,087 shares in its por�olio, equal to 2.742% of the share capital, purchased at an average cost of € 37.97442.

With specific reference to the latest interna�onal conflict involving Iran, the United States and Israel, which broke out consequent to the military opera�ons carried out on 28 February 2026, the Group is monitoring developments and their effects - which are hard to quan�fy given the recent start of the conflict - on its economic and financial posi�on.

The Group confirms its extraordinary capacity for resilience and solidity, despite a global context of persistent uncertainty and geopoli�cal/economic changes that have few precedents. The characteris�c diversifica�on of the Group represents a solid element of protec�on and stability.

For this reason, the Group believes that it will be able to achieve growth in turnover in the current year, if the trends of previous year are confirmed, or to minimize the possible impacts of any deteriora�on: therefore, the Group prudently es�mates, on an organic basis, a change in turnover of be-tween +3% and -2%, with a different contribu�on from the two sectors, par�cularly in the first part of the year. In fact, while the recovery process of the Hydraulics sector should con�nue posi�vely, the Water-Je�ng sector will not see a repeat of an extraordinary order that resulted in record values last year and will not allow the solid con�nuity of that sector to be fully appreciated.

Thanks to the flexibility of its business model, the Group will con�nue, on the one hand, to work on costs according to the evolu�on of demand, to confirm the levels of excellence in terms of margins, and, on the other, to con�nue the process of normalizing both investments and working capital to achieve a new record in terms of cash genera�on.

A. REPORT ON OPERATIONS FOR 2025

ESRS 2 – GENERAL DISCLOSURES

Basis for prepara�on

BP-1 - General basis for prepara�on of sustainability statements

This Sustainability Report is prepared on a consolidated basis, meaning that its perimeter is the same as that of the Consolidated Financial Report. It is specified that, with reference to:

• the companies consolidated using the equity method, only the data needed to calculate the Scope 1 and Scope 2 emissions has been considered3 ;
• Tuto Hidráulicos Ltda, Borghi Assali S.r.l., Padoan Deutschland GmbH, Padoan Swiss SA, F.A.R.M.A. S.r.l. and F.A.R.M.A. USA Inc., only their employee data (S1-6, S1-8, S1-9, S1-14, S1-17) has been included in this report.

See the "Consolida�on perimeter" sec�on of the "Explanatory Notes" to the Annual Financial Report for details of consolidated companies and their loca�ons.

Company	Country	Geographical reporting area	% held at 31/12/25
Interpump Group S.p.A.	Italy	Italy
Alfa Valvole S.r.l.	Italy	Italy	100%
Borghi Assali S.r.l.	Italy	Italy	70%
Contarini Leopoldo S.r.l.	Italy	Italy	100%
Eurofluid Hydraulic S.r.l.	Italy	Italy	80%
F.A.R.M.A. S.r.l.	Italy	Italy	100%
FGA S.r.l.	Italy	Italy	100%
H.S. S.r.l.	Italy	Italy	100%
Hydroven S.r.l.	Italy	Italy	100%
I.mec S.r.l.	Italy	Italy	70%
IMM Hydraulics S.p.A.	Italy	Italy	100%
Inoxihp S.r.l.	Italy	Italy	53%
Inoxpa Italia Srl	Italy	Italy	100%
Interpump Hydraulics S.p.A.	Italy	Italy	100%
Interpump Piping GS S.r.l.	Italy	Italy	100%
Oleodinamica Panni S.r.l.	Italy	Italy	100%
Padoan S.r.l.	Italy	Italy	65%
Pioli S.r.l.	Italy	Italy	100%

³ See Chapter "5.7 - Group companies" for details about the companies not consolidated on a line-by-line basis.

Company	Country	Geographical reporting area	% held at 31/12/25
Reggiana Riduttori S.r.l.	Italy	Italy	100%
Servizi Industriali S.r.l.	Italy	Italy	90%
SIT S.p.A.	Italy	Italy	88%
Tekno Tubi S.r.l.	Italy	Italy	100%
Transtecno S.r.l.	Italy	Italy	100%
Tubiflex S.p.A.	Italy	Italy	100%
Walvoil S.p.A.	Italy	Italy	100%
GS-Hydro Austria GmbH	Austria	Europe (Italy excluded)	100%
Copa Hydrosistem OOD	Bulgaria	Europe (Italy excluded)	100%
GS-Hydro Denmark AS	Denmark	Europe (Italy excluded)	100%
Inoxpa Skandinavien A/S	Denmark	Europe (Italy excluded)	100%
Hammelmann France	France	Europe (Italy excluded)	100%
IFS FRANCE SARL	France	Europe (Italy excluded)	100%
Inoxpa France Sas	France	Europe (Italy excluded)	100%
Interpump Hydraulics France S.a.r.l.	France	Europe (Italy excluded)	100%
RR France Sarl	France	Europe (Italy excluded)	95%
Unidro Contarini Sas	France	Europe (Italy excluded)	100%
Walvoil Fluid Power France Sarl	France	Europe (Italy excluded)	100%
GS-Hydro System GmbH	Germany	Europe (Italy excluded)	100%
Hammelmann GmbH	Germany	Europe (Italy excluded)	100%
Interpump Fluid Solutions Germany GmbH	Germany	Europe (Italy excluded)	100%
Padoan Deutschland GmbH	Germany	Europe (Italy excluded)	70%
White Drive Motors and Steering GmbH	Germany	Europe (Italy excluded)	100%

Company	Country	Geographical reporting area	% held at 31/12/25
Waikato Milking Systems Ireland Limited	Ireland	Europe (Italy excluded)	100%
Inoxpa Solutions Moldova	Moldova	Europe (Italy excluded)	67%
GS-Hydro Benelux B.V.	Netherlands	Europe (Italy excluded)	100%
RR Holland BV	Netherlands	Europe (Italy excluded)	100%
Transtecno Aandrijftechniek B.V.	Netherlands	Europe (Italy excluded)	51%
Transtecno BV	Netherlands	Europe (Italy excluded)	51%
GS-Hydro Sp. z o.o.	Poland	Europe (Italy excluded)	100%
White Drive Motors and Steering Sp. z o.o.	Poland	Europe (Italy excluded)	100%
Improved Solutions Unipessoal Ltda	Portugal	Europe (Italy excluded)	100%
IMM Hydro Est	Romania	Europe (Italy excluded)	100%
Inoxpa LTD	Russia	Europe (Italy excluded)	70%
RR Slovakia A.S.	Slovakia	Europe (Italy excluded)	100%
GS-Hydro S.A.U	Spain	Europe (Italy excluded)	100%
Hammelmann S. L.	Spain	Europe (Italy excluded)	100%
Inoxpa S.A.U. (Spain)	Spain	Europe (Italy excluded)	100%
Suministros Franquesa S.A.	Spain	Europe (Italy excluded)	100%
Transtecno Iberica the Modular Gearmotor s.a.	Spain	Europe (Italy excluded)	70%
GS-Hydro Ab	Sweden	Europe (Italy excluded)	100%
Hammelmann Swiss GmbH	Switzerland	Europe (Italy excluded)	100%
Padoan Swiss SA	Switzerland	Europe (Italy excluded)	100%

Company	Country	Geographical reporting area	% held at 31/12/25
Hammelmann Endüstri Pompalari	Türkiye	Europe (Italy excluded)	100%
Inoxpa Ukraine	Ukraine	Europe (Italy excluded)	100%
AllTube Engineering Ltd	UK	Europe (Italy excluded)	100%
Bristol Hose Limited	UK	Europe (Italy excluded)	100%
GS-Hydro UK Ltd	UK	Europe (Italy excluded)	100%
IMM Hydraulics Ltd	UK	Europe (Italy excluded)	100%
Inoxpa Ltd	UK	Europe (Italy excluded)	100%
Interpump Hydraulics UK	UK	Europe (Italy excluded)	100%
Waikato Milking Systems UK Limited	UK	Europe (Italy excluded)	100%
Hydra Dyne Technology Inc	Canada	North America	90%
RR Canada Inc.	Canada	North America	100%
Walvoil Canada Inc.	Canada	North America	100%
Alfa OBL America Inc.	USA	North America	85%
F.A.R.M.A. USA Inc.	USA	North America	100%
General Pump Inc.	USA	North America	100%
GS-Hydro U.S. Inc.	USA	North America	100%
Hammelmann Corporation Inc.	USA	North America	100%
Inoxpa USA Inc.	USA	North America	100%
Muncie Inc.	USA	North America	100%
NLB Corp.	USA	North America	100%
RR USA Inc.	USA	North America	100%
Waikato Milking Systems USA LLC	USA	North America	100%
Walvoil Fluid Power Corp.	USA	North America	100%
White Drive Motors and Steering, LLC	USA	North America	100%
Hammelmann Australia Pty Ltd	Australia	Far East and Pacific Area	100%
Mega Pacific Pty Ltd	Australia	Far East and Pacific Area	100%

Company	Country	Geographical reporting area	% held at 31/12/25
RR Pacific PTY Ltd	Australia	Far East and Pacific Area	100%
Walvoil Fluid Power Australasia	Australia	Far East and Pacific Area	100%
GS-Hydro Piping Systems (Shanghai) Co. Ltd.	China	Far East and Pacific Area	100%
Hammelmann Pump System Ltd	China	Far East and Pacific Area	90%
Hangzhou Interpump Power Transmissions Co., Ltd.	China	Far East and Pacific Area	100%
Inoxpa China Flow Technology Co., Ltd	China	Far East and Pacific Area	60%
Inoxpa Special Processing Equipment Co. Ltd	China	Far East and Pacific Area	100%
Shanghai PuPeng Flow Technology Co., Ltd	China	Far East and Pacific Area	60%
Walvoil Fluid Power (Dongguan) Co., Ltd	China	Far East and Pacific Area	100%
Wuxi Interpump Weifu Hydraulics Company	China	Far East and Pacific Area	65%
GS-Hydro Korea Ltd.	South Korea	Far East and Pacific Area	100%
Walvoil Fluid Power Korea Llc.	South Korea	Far East and Pacific Area	100%
GS-Hydro Hong Kong Ltd	Hong Kong	Far East and Pacific Area	100%
Hi-Tech Enviro Solutions Limited	New Zealand	Far East and Pacific Area	100%
Mega Pacific NZ Pty Ltd	New Zealand	Far East and Pacific Area	100%
Waikato Milking Systems L.P.	New Zealand	Far East and Pacific Area	100%
Waikato Milking Systems Lease Limited	New Zealand	Far East and Pacific Area	100%
Waikato Milking Systems Limited	New Zealand	Far East and Pacific Area	100%
WMS GP Limited	New Zealand	Far East and Pacific Area	100%
GS-Hydro Singapore Pte Ltd	Singapore	Far East and Pacific Area	100%

Company	Country	Geographical reporting area	% held at 31/12/25
GS-Hydro do Brasil Sistemas Hidráulicos Ltda	Brazil	Rest of the World	100%
Hidrover Equipamentos Hidráulicos Ltda	Brazil	Rest of the World	59%
Interpump Hydraulics Brasil	Brazil	Rest of the World	100%
Tutto Hidráulicos Ltda	Brazil	Rest of the World	100%
Hydrocar Chile S.A.	Chile	Rest of the World	90%
Padoan Chile Ltda	Chile	Rest of the World	100%
Inoxpa Colombia Sas	Colombia	Rest of the World	100%
Interpump Hydraulics Middle East FZE	UAE	Rest of the World	100%
Inoxpa India Private Ltd	India	Rest of the World	100%
Interpump Hydraulics India Ltd	India	Rest of the World	100%
IPG MOULDTECH INDIA PVT LTD.	India	Rest of the World	85%
Walvoil Fluid Power (India) Pvt. Ltd.	India	Rest of the World	100%
Inoxpa Mexico	Mexico	Rest of the World	100%
MA Transtecno S.A.P.I. de C.V.	Mexico	Rest of the World	70%
Inoxpa South Africa Pty Ltd	South Africa	Rest of the World	100%
Interpump South Africa Pty Ltd	South Africa	Rest of the World	100%

In this repor�ng year:

• Interpump did not elect to omit specific disclosures about intellectual property, know-how, or the results of innova�on;
• there were no situa�ons envisaged in arts. 19 and 29 of Direc�ve 2013/34/EU regarding imminent developments or maters under nego�a�on.

Addi�onally, the following companies are either non-opera�onal, dormant and/or in liquida�on: Interpump Piping GS S.r.l., White Drive Motors and Steering GmbH, AllTube Engineering Ltd, Bristol Hose Limited, IMM Hydraulics Ltd, GS-Hydro Hong Kong Ltd, GS-Hydro System GmbH, Hi-Tech Enviro Solu�ons Limited, Waikato Milking Systems Lease Limited, Waikato Milking Systems Limited, WMS GP Limited, Padoan Chile Ltda and Interpump Hydraulics Middle East FZE.

When conduc�ng the double materiality assessment (described in more detail in the sec�on en�tled "IRO-1: Description of the process to identify and assess material impacts, risks, and opportunities"), the backbone of this Sustainability Report, the Group considered all stages in the value chain, both direct opera�ons and upstream and downstream ac�vi�es.

BP-2 - Disclosures in rela�on to specific circumstances

No special events or situa�ons significantly influenced the sustainability performance of the Interpump Group during the 2025 repor�ng year.

Metrics	Reasons for uncertainty
Scope 3 Greenhouse Gas Emissions	The calculation sometimes relies on non-primary data derived from various estimates (including distances, purchase costs, and emission factors).
Energy consumption	Consumption estimates based on historical trends, or assessments made by management, were used when supplier data was not provided for the latter part of the year.

The following metrics used in this Report are currently subject to uncertainty:

The following metrics make reference to a perimeter different to that used for the consolida�on:

• for Scope 3 emissions, the data for the companies considered, accoun�ng for about 65% of consolidated turnover and 80% of Scope 1 and Scope 2 emissions, was not scaled up. Over the next few years, this perimeter will be extended gradually to include less emissions-heavy companies as well. For more details about how this metric was prepared and its accuracy, see the sec�on en�tled "E1-6 - Gross Scopes 1, 2, 3 and Total GHG emissions";
• for payment prac�ces, a sample of Group companies represen�ng about 28% of consolidated direct purchases (raw materials, semi-finished goods, tools, and outsourced processing) was analyzed. These purchasing categories are among the most significant for the Group's manufacturing companies and, in fact, match those considered by the project to rate vendors based on ESG criteria, in the context of the Group's broader ESG plan for 2023-2025. The consolidated data was not scaled up to Group level. We believe this perimeter, which includes the principal companies within the Group, is broad enough to be reasonably representa�ve of the consolidated values; it will be extended further in the coming years, in order become even more representa�ve. See the chapter en�tled "G1-6 - Payment prac�ces" for a more detailed discussion of the calcula�on method used.

No changes have been made to the sustainability informa�on published in prior reports and, furthermore, no significant errors are known to have been made in prior repor�ng periods.

Regarding the disclosures required by other sustainability repor�ng regula�ons or guidelines beyond ESRS, note that a number of the principal companies within the Group have implemented management systems and models to monitor, measure, and improve their environmental performance, as well as to help reduce pollu�on, waste genera�on, and uninten�onal discharges into the environment.

At the end of 2025, ISO 14001 cer�fica�on covers 22% of Group companies and 43% of consolidated turnover. Alongside this, ISO 45001 cer�fica�on has been obtained by 17% of subsidiaries (genera�ng 31% of turnover), confirming their adop�on of health and safety management systems compliant with interna�onal standards.

With regard to the 2025 CSRD, Interpump confirms that no informa�on has been included in the form of references.

Governance

GOV-1 - The role of the administra�ve, management, and supervisory bodies

The Board of Directors (Board) of Interpump Group S.p.A., appointed at the Shareholders' Mee�ng held on 28 April 2023, consists of 10 directors, including: 2 execu�ve directors (20%), 1 non-execu�ve director (10%), and 7 independent non-execu�ve directors (70%).

At present, there are no worker representa�ves on the Board. All Board members bring the professionalism and skills needed for the roles assigned to them. They all have experience in the industrial sector, while at least 80% have M&A exper�se and 70% have proven knowledge of ESG maters.

The composi�on of the Board meets suitable diversity standards, in terms of gender and age band, consistent with the principles and recommenda�ons of the Corporate Governance Code for Issuers, which requires at least two-fi�hs of their Board members to be from the less-represented gender. This requirement is also reflected in the Bylaws of the Company.

In terms of gender, 50% of the directors in office are women, while the remaining 50% are men.

The Board has been assigned a central role in the corporate governance of Interpump Group S.p.A., with broad powers and responsibili�es regarding governance and the system of internal control and risk management, as well as for the defini�on of sustainability policies in pursuit of sustainable success, via the crea�on of long-term value for shareholders and key stakeholders.

The Board mee�ng held on 28 April 2023 established a standalone Sustainability Commitee (previously part of the Control, Risks, and Sustainability Commitee) tasked with inves�ga�ve, proposal-making, and consulta�ve roles on Environmental, Social, and Governance (ESG) maters.

The Board defines the strategy and objec�ves of the Group, including the sustainability policies that mater in the pursuit of sustainable success, and plays an ac�ve role in assessing and managing the material topics discussed in this Sustainability Report. This process is supported by the Sustainability Commitee on ESG specifics and by the Control and Risks Commitee with regard to the system of internal control and risk management.

The results of the process followed by the Sustainability Commitee to iden�fy material topics for inclusion in the Sustainability Report are presented to and discussed with the Board every year. The Commitee is also tasked with examining the contents of the periodic sustainability report with the Manager responsible for dra�ing the accoun�ng documents, before presenta�on to the Board for approval. Lastly, the Sustainability Commitee also prepares sustainability goals, strategies, and longterm plans for the Board to consider, monitoring their implementa�on.

Certain impacts, risks, and opportuni�es (IROs) are implicitly managed within the 2023-2025 ESG Plan. That said, there are no specific IRO procedures in place at the repor�ng date for their overall management.

The Commitee comprises one execu�ve director with sustainability-related powers and two independent directors. Overall, the Commitee has adequate skills in the sector in which the Company operates, as well as in rela�on to its func�ons and du�es concerning the ESG policies adopted by the Group. Specifically, the directors possess significant experience in the areas of finance, ESG, audi�ng, enterprise risk management, and governance.

GOV-2 - Informa�on provided to and sustainability maters addressed by the undertaking's administra�ve, management, and supervisory bodies

Following introduc�on of the CSRD, the analysis of impacts, risks, and opportuni�es has been progressively embedded into the broader process of defining the corporate strategy. At least once a year, the Board receives an update on material impacts, risks, and opportuni�es, as well as on the results and efficacy of the policies, ac�ons, metrics, and targets adopted. This analysis, backed by the know-how and work of the two Board commitees, provides a clear picture of all Impacts, Risks, and Opportuni�es (IROs).

The system of internal control and risk management adopted by Interpump Group S.p.A. comprises a set of rules, procedures, and organiza�onal func�ons designed to iden�fy, measure, manage, and monitor the main risks. In par�cular, Interpump Group S.p.A. has defined an Enterprise Risk Management model (ERM Model or Model) that draws on global best prac�ces (like the CoSO Framework, CoSO ERM WBCSD, and ISO 31000) and implements the recommenda�ons of Corporate Governance Code. This Model takes a systema�c approach to iden�fying, measuring, managing, and monitoring the principal risks that could impact on achievement of the Interpump Group's strategic objec�ves. The risk assessment inherent in the ERM Model starts by defining the nature and level of risk that fits with the strategic direc�ons set by the Board. Risks are evaluated periodically based on their: (i) likelihood, being the probability that an event will happen, based on historical analyses, future projec�ons, or subjec�ve assessments by sector experts, and (ii) impacts, being the consequences of an event on the financial, opera�onal, reputa�onal, compliance, and sustainability areas (in terms of their impacts, risks, and opportuni�es).

Work to embed the double materiality analysis (CSRD) within the ERM model commenced during 2025. The objec�ve is to create a centralized risk catalog that ensures consistent balance when assessing financial performance and sustainability impacts.

The Sustainability Commitee also monitors execu�on of the 20 ac�ons and related targets specified in the 2023-2025 ESG Strategic Plan, approved by the Board on 5 October 2022, that embeds sustainability standards within the business strategy adopted by the Group.

GOV-3 - Integra�on of sustainability-related performance in incen�ve schemes

The Remunera�on Policy of the Interpump Group, approved at the Shareholders' Mee�ng and valid for the three-year period 2025-2027, covers the members of the administra�ve bodies, including the execu�ve and non-execu�ve directors, the general managers, and the other execu�ves with strategic responsibili�es ("Key Management Personnel"), as well as - without prejudice to the provisions of art. 2402 of the Italian Civil Code, the Statutory Auditors of Interpump Group S.p.A.

With specific reference to the remunera�on of the Execu�ve Directors and Key Management Personnel, this policy includes a fixed component, a variable short-term component ("MBO", Management by Objec�ves), and long-term incen�ves ("LTI", Long-Term Incen�ve Plan), in order to promote the achievement of specific objec�ves in the interests of all shareholders.

Fixed component

The level of fixed remunera�on - linked to professional specializa�on, posi�on held and responsibili�es assigned - is sufficient to remunerate the Director or Execu�ve, even if the variable component is withheld following failure to achieve the performance objec�ves.

Variable component

The objec�ve of MBO plan described in the Remunera�on Policy is to encourage Directors and Execu�ves to achieve specific performance targets. Specific targets and the related parameters are iden�fied a�er taking account of the need for:

• precise, clear, and objec�vely measurable targets set and communicated in advance;
• alignment with the objec�ves of the Company and the Group;
• the appropriate progression of performance goals over �me, having regard for the sustainability of the remunera�on recognized.

The Remunera�on Policy allows the Board to pay discre�onary bonuses within predefined limits, and to establish specific ves�ng periods, deferred payment mechanisms, and ex-post correc�on mechanisms (e.g. "claw-back" and/or "malus" clauses).

With reference to the long-term incen�ves, on 29 April 2025 the Shareholders' Mee�ng of Interpump Group S.p.A. approved the "Interpump Incen�ve Plan 2025-2027", which envisages the grant of a certain number of op�ons to the "beneficiaries", being employees, directors and/or collaborators of the Company and/or the Group, iden�fied from among those persons who hold posi�ons and/or perform func�ons of a strategic nature, with a view to building loyalty and crea�ng future value. The performance objec�ves are not only economic and financial in nature - associated with the achievement of specific results at Group level - and linked to personal performance, but also correlated in part with the development and consolida�on of those ESG topics important to the Group, as measured inter alia for disclosure in this Sustainability Report.

The objec�ves underlying the recogni�on of remunera�on in the form of stock op�ons are not only economic and financial in nature - associated with the achievement of specific results at Group level and linked to personal performance, but also correlated with the development and consolida�on of those ESG topics important to the Group. In par�cular and solely by way of example, the objec�ves may relate to the Environmental, Social and Governance areas and any ac�vi�es that, from �me to �me, are deemed significant for the Group, as well as measurable and/or measured for repor�ng in this Sustainability Report:

• Environmental area, the adop�on of solu�ons intended to lower the impact of business ac�vi�es on the environment (for example, by reducing atmospheric emissions and/or the produc�on of waste, increasing the use of energy derived from renewable sources and lowering water consump�on);
• Social area, the adop�on of policies intended to improve the social impact of business ac�vi�es (for example, via ini�a�ves in support of diversity and inclusion, ac�on to reduce the injury rate and the defini�on of a policy in support of local communi�es);
• Governance area, the adop�on of measures to improve the management and governance of the Company and the Group (for example, by improving the organiza�onal and/or func�onal structure of the Board or the training on whistleblowing maters).

In view of the growing awareness about and aten�on paid to ESG policies, from 2022 the Remunera�on Policy of the Company has included addi�onal, non-financial KPIs linked to pursuit and achievement of the objec�ves indicated in the 2023-2025 ESG Plan.

Specifically, when se�ng remunera�on, the:

• annual incen�ve system (MBO) envisages correla�on with the ESG objec�ves by iden�fying precise KPIs linked to achievement of the annual objec�ves specified in the ESG Plan, assigning them a 15% weigh�ng with respect to the MBO as a whole.
• the medium/long-term incen�ve system (LTI), represented by the Interpump Incen�ve Plan for 2025-2027, also envisages that, for 15% of the op�ons offered to each beneficiary, the objec�ves

assigned to them must contribute to the development and consolida�on of the ESG topics that inter alia are measurable and/or measured for non-financial repor�ng purposes.

The Remunera�on Policy is approved by the Board, which is responsible for its implementa�on and revision, based on a proposal from the Remunera�on Commitee, and a�er hearing the opinion of the Board of Statutory Auditors. The Policy is also submited to a binding vote at the Shareholders' Mee�ng.

GOV-4 - Statement on sustainability due diligence

The Interpump Group has implemented a due diligence process that seeks to iden�fy actual and poten�al nega�ve impacts from its ac�vi�es, and roll out ini�a�ves to prevent or mi�gate them (more on this in later sec�ons on the material Topical Standards), implemen�ng the UN Guiding Principles on Business and Human Rights and the OECD Guidelines for Mul�na�onal Enterprises. This process s�ll needs some work, in certain cases, in order manage the impacts within the en�re value chain.

The table below sets out the core elements of the due diligence on sustainability maters and the related sec�ons in which they are discussed:

Core due diligence elements	Reference (Sections in Sustainability Report)
Embed responsible business conduct within the business management systems and policies adopted	• GOV-1: The role of the administrative, management, and supervisory bodies • GOV-2: Information provided to and sustainability matters addressed by the undertaking's administrative, management, and supervisory bodies • GOV-3: Integration of sustainability-related performance in incentive schemes
Involve affected stakeholders in every phase of the due diligence process	• SBM-1: Strategy, business model, and value chain • SBM-2: Interests and views of stakeholders
Identifying and assessing impacts	• SBM-3: Material impacts, risks, and opportunities and their interaction with strategy and business model • IRO-1: Description of the process to identify and assess material impacts, risks, and opportunities
Adopt impact mitigation actions	• GOV-1: The role of the administrative, management, and supervisory bodies • SBM-1: Strategy, business model, and value chain • SBM-2: Interests and views of stakeholders
Assess the efficacy of actions and report them	• GOV-5: Risk management and internal controls over sustainability reporting

GOV-5 - Risk management and internal controls over sustainability repor�ng

The Interpump Group has implemented an "internal control model for non-financial repor�ng" that defines how to iden�fy, measure, manage, and control risks linked to the repor�ng of non-financial informa�on, as part of the broader system of internal controls over non-financial disclosures that ensures the credibility, accuracy, reliability, and �meliness of the Group's non-financial data and informa�on.

Risk iden�fica�on for the purpose of repor�ng non-financial informa�on follows a process-based approach, whereby risks are iden�fied in rela�on to each process in which they may emerge. Consequently, exis�ng processes and subprocesses are analyzed with reference to the process matrices documented as part of the system of internal controls over non-financial disclosures, and the specific ac�vi�es involved in each subprocess are iden�fied. A�er iden�fying the risks linked to the repor�ng of non-financial informa�on, the Company maps the ac�ons already in place i.e. each risk-response measure used to tackle the poten�al risk, by mi�ga�ng it or transla�ng it into an opportunity (e.g. measures of an organiza�onal, procedural, IT, or other nature). Risks are ranked by their significance and poten�al organiza�onal impact.

The system of internal control includes the following informa�on and data:

• Cross-cu�ng ESRS (ESRS 1 and ESRS 2): these include guidelines for repor�ng on such general sustainability maters as governance, strategy, risk management, and the transparency of informa�on;
• Topical Standards (E1, E2, E3, E5, S1, S2, S4): material topics iden�fied via the double materiality assessment.

For each ESRS type, the following table indicates the main repor�ng risks iden�fied and the controls implemented to mi�gate them:

ESRS type	Main risks identified	Examples of controls implemented to mitigate risks
Cross-cutting (ESRS 1 and ESRS 2)	• Late production and publication of the Sustainability Report, • Unauthorized access to the reporting system, • Wrong consolidation perimeter defined.	• Access controls to ensure that only authorized personnel can use the reporting system, • Audit checks on the data input to confirm its completeness and accuracy. • Approval procedures for additions and changes to reporting data, plus automated controls to reduce manual errors in the reporting process.
Topical Standards (E1, E2, E3, E5, S1, S2, S4)	• Erroneous collection, processing, and reporting of data on: - energy consumption, - natural gas consumption, - water consumption, - recycled, stored, or reused water, - waste produced, - flows of goods received, - workforce, - employee training, - health and safety of personnel, - wages and remuneration, - human rights violations,	• Checks to ensure the accuracy of data on energy and water consumption. • Verification procedures to ensure the accuracy of information about the waste generated and the flow of goods received. • Controls to monitor the reporting of data about the workforce and human rights, and to ensure the consistency and reliability of the information disclosed.
	- payment practices.

The results of the risk assessment and the internal control work included in the sustainability repor�ng process via the adop�on of careful, well structured repor�ng prac�ces. These include the scheduling

of repor�ng tasks, establishing responsibili�es and �melines for data collec�on and valida�on, and ensuring the traceability of informa�on and ac�ons.

The Manager responsible for dra�ing the accoun�ng documents ensures the maintenance and adequacy of the system of internal control over non-financial repor�ng, and is assisted by the Internal Audit, Risk & Compliance Func�on, which constantly monitors its efficacy via the following ac�ons:

• iden�fica�on of the perimeter to be analyzed in terms of the Group companies involved, including the related business processes that make a quali-quan�ta�ve contribu�on to prepara�on of the Sustainability Report of Interpump Group S.p.A.;
• mapping and update of risks and controls relevant for non-financial repor�ng purposes;
• verifica�on of the adequacy of the design and opera�onal effec�veness of the controls, via independent monitoring and periodic tests;
• working with management (a.k.a. risk owners), who are tasked as part of their du�es with implemen�ng line controls for the proper execu�on of opera�ng ac�vi�es, including those with an impact on the produc�on of non-financial data, to iden�fy correc�ve ac�ons (remedia�on plans) in order to:
• o make necessary correc�ons,
• o ensure the proper func�oning of the system of internal control.

In order to enable the Board to perform its oversight role, the Internal Audit, Risk & Compliance Func�on prepares summary reports, annually or more frequently, on the results of the work performed. A�er sharing the results with the Manager responsible for dra�ing the accoun�ng documents, the Internal Audit, Risk & Compliance Func�on presents them to the Control and Risks Commitee, which opines on the adequacy and effec�veness of the system of internal control over nonfinancial repor�ng, considering the characteris�cs of the business and the risk profile accepted. A�er making that assessment, the Control and Risks Commitee presents the Report to the Board for review.

Strategy

SBM-1 - Strategy, business model, and value chain

The product catalog of the Interpump Group is especially numerous and broad, but essen�ally defines the two business sectors: Water-Je�ng and Hydraulics.

Principal products

	Water-Jetting sector	Hydraulic sector
• • •	Plunger pumps for water (1 to 2,000 HP) with related components and accessories; Special pumps, mixers, agitators, cleaning systems, valves and tanks; Automated milking systems.	• Hydraulic components 4 ; • Piping systems; • Gears for industrial and domestic machines; • Orbital motors and steering systems

Principal markets

Water-Jetting sector	Hydraulic sector
• Agri-food industry; • Cosmetics industry; • Pharmaceutical industry; • Steel industry; • Industrial cleaning services; • Water treatment; • Automotive industry; • Construction machinery sector; • Oil & Gas sector;	• Manufacturers of earth-moving, construction, agricultural and lifting equipment; • Mining/extraction sector; • Industrial automation; • Logistics.

More details about Interpump Group products can be found on the Group website 5 .

Geographically, the following markets are served: Italy, Rest of Europe, North America, Far East and Pacific Area, and Rest of the World, as already shown in the "Revenues" sec�on of the income statement chapter in this document.

There were no significant changes in the products sold or the markets served (industry-wise or geographically) by the Interpump Group during 2025.

⁴ For example: power take-offs, gear pumps, cylinders, hydraulic motors, oil tanks, direc�onal controls and related electronic or mechanical control systems, hydraulic lines (flexible rubber hoses, flexible metal pipes, and rigid pipes), flanges and fi�ngs.

⁵ See the following webpage: htps://www.interpumpgroup.it/it/chi-siamo/business

The following table summarizes employment by the Group in the above geographical areas at 31 December 2025:

Italy		Rest of Europe	North America	Far East and Pacific Area	Rest of the World	Total
No. employees	4,050	2,256	1,310	799	1,247	9,662

All products comply with current regula�ons and are not subject to restric�ons in any of the markets in which the Interpump Group operates.

In the context of the 2023-2025 ESG Plan, the Group has adopted Ecodesign Guidelines to iden�fy and develop innova�ve processes that significantly extend product lifecycles, promo�ng longer useful lives, reuse, and recycling. Each Group company is responsible for the defini�on of opera�ng procedures to achieve the above Guidelines, together with KPIs to monitor both the environmental impacts of their products and performance over �me.

The key principles embodied in these Guidelines include:

• the efficient management of materials the Group commits to using renewable raw materials, secondary raw materials, by-products, and/or produc�on scrap (especially higher-value materials, like steel, brass, and cast iron) and to op�mizing the use of materials in the produc�on process.
• the extension of product lifecycles the Group pledges to offer customers repair and preven�ve maintenance services (even via use of the Internet of Things), as well as products designed to facilitate their complete disassembly.

Currently, however, it is s�ll not possible to define quan�ta�ve sustainability targets for major groups of products and services, customer categories, geographical areas, or stakeholder rela�ons.

The Interpump Group has always been commited to con�nuous innova�on and the development of cu�ng-edge technologies. R&D into innova�ve products that deliver increased efficiency and reliability is a core part of the Interpump business. All this poten�ally translates into a lower impact on the environment, waste genera�on, the consump�on of natural resources, and the emission of CO² into the atmosphere. The markets in which the Group operates increasingly seek sustainable solu�ons that minimize their environmental impacts. In this context, Interpump strives to develop products and technologies that can contribute to environmental sustainability while, at the same �me, guaranteeing high standards of quality and performance. The search for beter product performance o�en results in improved profiles for energy and water consump�on or for the materials used in produc�on. The Group's R&D efforts find prac�cal applica�on in collabora�on with various clients, mostly to create new products and applica�ons, or enhance their performance. These dynamics ripple across all Group companies and their respec�ve products, no mater the geographical area or sector of applica�on.

The Interpump Group has embedded its sustainability and business development strategy into the 2023-2025 ESG Plan: 20 ac�ons to be implemented during the plan period, as also detailed on the website of Interpump Group S.p.A.

The value chain of the Interpump Group

Given the heterogeneous nature of the business, the value chain used by the Interpump Group is somewhat complex, reflec�ng the mul�ple markets served and services provided.

The upstream ac�vi�es of the Group are supported by a global network of suppliers, which fall into three principal macro-categories:

• key suppliers that provide mechanical components, metal, rubber, compound and plas�c semifinished parts, electrical components and equipment, utensils, and tools for produc�on and assembly purposes. In turn, these suppliers purchase from third par�es the raw materials that underpin Interpump's produc�on processes;
• suppliers of water, needed in the various stages of produc�on and product tes�ng;
• suppliers of fuel and energy, needed to carry out all the various ac�vi�es.

Interpump also draws on support from businesses ac�ve in the areas of sales and distribu�on, logis�cs, processing and produc�on, and in the external provision of professional services (e.g. HR, IT, legal, marke�ng, tax, and audi�ng).

The wide range of technical solu�ons and the diversified geographical presence o�en require the decentralized management of procurement at subsidiary level. Addi�onally, the commercial and distribu�on companies within the Group are able to purchase products from external suppliers, as well as from the Group's manufacturing companies.

Interpump carries out numerous ac�vi�es directly, with an emphasis on the produc�on and sale of:

• high and very high pressure plunger pumps (Water-Je�ng sector).
• hydraulic systems and components, flexible rubber hoses and rigid metallic pipes, power transmissions, gear motors, orbital motors and steering systems (Hydraulic sector).

In addi�on to direct produc�on, Interpump also:

• provides a�er-sales and technical support to customers;
• resells third-party products;
• carries out R&D work, both internally and in collabora�on with customers and suppliers;
• carries out tes�ng, quality control and ancillary produc�on processes.

Given the nature of the items offered, consis�ng of components for the assembly of third-party products, the Group's downstream supply chain comprises OEMs, distributors and resellers. As such, the Group's business model involves very limited exposure to end consumers (as defined in Decree 206/2005), focusing instead on professional and industrial-level rela�onships.

For example, the following table shows the sectors in which the solu�ons offered by the Group's Water-Je�ng and Hydraulic sectors are used.

Application of solutions Water-Jetting sector	Application of components Hydraulic sector
Food-processing industry	Industrial vehicles
Dairy industry	Earth-moving equipment
Cosmetics industry	Construction vehicles
Water treatment	Lifting and transport vehicles
Industrial cleaning	Agricultural vehicles
Oil & Gas industry	Machine tools
Construction industry
Foundries and steelworks

Furthermore, again downstream in the value chain, the Interpump Group interfaces with operators engaged in:

• logis�cs for the transporta�on and distribu�on of products;
• management of waste/EOL products.

The Interpump Group has always been commited to con�nuous innova�on and the development of cu�ng-edge technologies. The Group's R&D efforts find prac�cal applica�on in collabora�on with various clients, mostly to create new products and applica�ons, or enhance their performance. Despite the complexity of the collabora�ve process with customers, Interpump believes that this approach can deliver the following benefits:

• Direct feedback: collabora�ng closely with customers during the R&D process means that immediate, direct feedback on products and services can be obtained.
• Synergies: involving customers in the early stages of development enables solu�ons to be created that sa�sfy their needs and preferences. This approach can lead to the iden�fica�on of addi�onal products and applica�ons that are even more innova�ve and suited to the target market.
• Risk reduc�on: collabora�ng with customers from the outset helps to reduce risks by iden�fying poten�al issues before they become cri�cal or costly to resolve.
• Customer loyalty: involving customers in the development process increases their confidence in Group companies.

SBM- 2 - Interests and views of stakeholders

The Interpump Group periodically interacts with stakeholders to ensure that business decisions align with the expecta�ons and needs of all involved par�es.

For each category of stakeholder iden�fied, the Interpump Group has developed specific communica�ons channels via which to listen periodically to their opinions and understand their points of view and needs. The comments and results deriving from the various forms of stakeholder engagement are considered by top management when upda�ng the list of impacts, risks, and opportuni�es to be monitored.

Interpump Group S.p.A. also recognizes the fundamental importance of discussions with its shareholders and investors, fostering constant, ongoing dialog with a view to crea�ng value over the medium-long term. At the mee�ng held on 4 October 2021, the Board adopted the "Policy for managing dialog with the Shareholders" in order to govern the most appropriate forms of engagement with the shareholders and significant stakeholders.

The principal stakeholders iden�fied by Interpump are listed below, together with the respec�ve engagement methods and frequency.

Stakeholder category (45a i)	Engagement frequency (45a ii, iii)	Engagement method (45a ii, iii)
Employees and collaborators	Continuous	- Periodic assessment of performance and results - Corporate intranet - Specific training programs - Communications from top management - Collective bargaining - Questionnaire to identify the relevant issues, used to fill in the materiality matrix
Shareholders Continuous		- Institutional website - Periodic meetings - Shareholders' meeting - Press releases - Adoption of a policy for managing dialog with the shareholders
Local Community	Continuous	- Institutional website - Donations - Meetings for student orientation (apprenticeships/internships)
Competitors Periodic		- Institutional website - Participation in initiatives, fairs and events
Trade unions Periodic / ad hoc		- Institutional meetings
Trade associations Continuous / ad hoc		- Participation at conferences and information sessions
Providers of finance Periodic		- Institutional website - Periodic meetings with financial analysts

Stakeholder category (45a i)	Engagement frequency (45a ii, iii)	Engagement method (45a ii, iii)
		- Press releases
Suppliers	Continuous / ad hoc	- Institutional website - Constant relations with the relevant business functions - Participation in initiatives and events - Stakeholder engagement
Public administration and control Continuous bodies		- Institutional meetings
Customers	Continuous / ad hoc	- Institutional website - Customer service - Catalogs - After-sales service Trade fairs - - Stakeholder engagement
Legislator Continuous		- Institutional website - Disclosure to Consob and the market - Information on request - Reports and financial statements - Press releases Shareholders' meetings -

Certain specific stakeholder categories - including investors, top management, Board members and a sample of customers and suppliers - were involved directly in assessing the importance of the various sustainability maters.

As specified above, in the sec�on en�tled "GOV-1: The role of the administrative, management, and supervisory bodies", the results of this analysis are examined annually by the Board, with assistance from the Sustainability Commitee. The Board of Directors is periodically informed about the opinions of stakeholders, based on the engagement ac�vi�es scheduled throughout the year.

SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model

The sustainability impacts, risks, and opportuni�es deemed material by the Interpump Group, following comple�on of the double materiality analysis that underpinned the prepara�on of this Report, are described in the tables presented in the remainder of this sec�on.

The following are specified with regard to the impacts:

• whether they are nega�ve or posi�ve and how they affect people or the environment;
• the related ac�ons included in the 2023-2025 ESG Strategic Plan6 ;
• the �me horizons that are reasonably expected;
• whether they arise in the Group's direct opera�ons or within the value chain.

The following types of impact are presented in the tables:

• posi�ve (P) or nega�ve (N);
• actual (Act) or poten�al (Pot);
• characterized by a Short (S), Medium (M) or Long (L) �me horizon;
• posi�on within the value chain: direct opera�ons (Direct), Upstream (Up) or Downstream (Down).

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
E1	Climate change	Mitigation		The procurement, transportation, and production processes necessary to create the Group's products involve energy consumption from non renewable sources and the related GHG gas emissions, primarily from the use of fossil fuels (Scope 1) and the purchase of electricity from the grid (Scope 2) to operate the Group's plants. The resulting Scope 1 and 2 emissions represent the principal driver of the Group's contribution to the rise in global temperatures.	Direct	Act	N	L	Action E.1 E.2 E.3

⁶ Further details about the 2023-2025 ESG Plan of the Interpump Group and related ac�ons can be found in a specific sec�on of the website htps://www.interpumpgroup.it/it/sostenibilita/piano-esg-2023-2025

emarket sdir storage
CERTIFIED

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
E1	Climate change	Energy		The material impact derives from an energy mix that contains a high incidence of non-renewable fossil fuels (coal, natural gas and petroleum). This configuration, combined with limited opportunities to enhance energy efficiency, results in an elevated consumption of primary energy from non renewable sources, which conflicts with the objective to transition to low-emission energy sources.	Direct	Act	N	L	Action E.1 E.2 E.3
E1	Climate change	Mitigation		The Interpump Group contributes to indirect (Scope 3) greenhouse gas (GHG) emissions throughout the value chain. These are particularly material in the following areas: 1) Extraction and processing of raw materials (e.g. metals and fossil fuels), due to the intrinsic high energy consumption and industrial processes involved. 2) Generation of energy purchased and included in goods and services throughout the value chain. These emissions make a significant contribution to the overall climate impact of the business	Up	Act	N	L
E1	Climate change	Mitigation		Certain categories of product sold by the Group require fuels and electricity for their use. This generates significant GHG emissions (Scope 3, Category 11) that contribute to climate change, representing an actual negative material impact of the business on the environment throughout the downstream value chain. These emissions are a significant portion of the total generated by the business.	Down	Act	N	L
E1	Climate change	Energy		The Group has a negative impact on the environment via intensive energy consumption and the use of non-renewable fossil fuels by its suppliers (Scope 3, Upstream categories: e.g. Category 1 - Purchased goods and services, Category 2 - Capital assets). This upstream consumption contributes significantly to the depletion of natural resources and global GHG emissions.	Up	Act	N	L

A. REPORT ON OPERATIONS FOR 2025

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
E1	Climate change	Energy		The Group has a negative impact on the environment via the consumption of energy during the use of sold products (Scope 3, Category 11 - Use of sold products) by its customers. This downstream energy requirement, often covered from fossil sources by end customers, contributes directly to the increase in global GHG emissions and the depletion of resources, with a material impact on climate change.	Down	Act	N	L
E2	Pollution	Pollution of air		Atmospheric emissions include pollutants that have a negative impact on air quality and ecosystems, including human and animal health. During activities within the supply chain, polluting emissions are released into the atmosphere.	Up	Act	N	M
E2	Pollution	Pollution of water		Water discharges contain pollutants that have a negative impact on water quality. During activities within the supply chain, polluting discharges are released into the water.	Up	Act	N	M
E2	Pollution	Pollution of soil		The extraction and processing of raw materials and semi finished goods used by the Group has a negative impact on soil quality. During activities within the supply chain, the likely discharge of pollutants has a negative impact on the surrounding territory.	Up	Act	N	M
E3	Water and marine resources	Water	Water consumption	Although limited, water consumption by Group plants has an impact on the territories in which the business operates, especially if located in a water-stressed area, with consequences for its availability for the local community. Among the countries in which the Group operates, about 50% are in medium/low water stress situations, while the remainder (including Italy) fall into medium/high stress categories.	Direct	Act	N	S	Action E.6

en iur kec sdir storage CERTIFIED

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
E3	Water and marine resources	Water	Water withdrawal	Water withdrawal by Group plants has an impact on the territories in which the business operates, especially if located in a water-stressed area, with consequences for its availability for the local community. Among the countries in which the Group operates, about 50% are in medium/low water stress situations, while the remainder (including Italy) fall into medium/high stress categories.	Direct	Act	N	S	Action E.6
E3	Water and marine resources	Water	Water consumption	The process of producing raw Up materials, such as metals, requires large quantities of water. Here too, the consumption of water has an impact on the territories in which companies within the value chain operate.		Act	N	S
E3	Water and marine resources	Water	Water withdrawal	The process of producing raw materials, such as metals, requires large quantities of water. Here too, the withdrawal of water has an impact on the territories in which companies within the value chain operate.	Up	Act	N	S
E5	Circular economy	Resource inflows, including resource use		Although the Interpump Group carries out constant research into technical solutions capable of reducing the environmental impact and consumption of raw materials, the share of raw materials obtained from recycling is not always high; in addition, it is not always possible to: choose raw materials with a low environmental impact, guarantee the repairability of components or optimize the management of EOL products.	Direct	Pot	N	M	Action E.4 E.5

A. REPORT ON OPERATIONS FOR 2025

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
E5	Circular economy	Waste		The quantity, type, and quality of waste generated are a consequence of procurement, production, and product EOL activities. The Group directly generates both hazardous and non-hazardous waste, with the primary waste being ferrous metal filings and turnings. If not properly managed, waste disposal can generate environmental impacts in the affected territories. This impact depends not only on the specific regulations of the various countries in which the Group operates, but also on the local infrastructure available to manage waste.	Direct	Act	N	S	Action E.4 E.5
E5	Circular economy	Waste		Although the Interpump Group carries out constant research into technical solutions capable of reducing its environmental impact, it is possible to imagine a potential negative impacts both downstream and with regard to EOL products. Indeed, there may be significant increases in environmental pollution and an overloading of landfills due to difficulties with the disposal or recycling of EOL products, especially if they were designed with complex, non recyclable materials, or sold in markets with poor waste management facilities.	Down	Act	N	S	Action E.7
S1	Own workforce	Working conditions	Health and safety	Business processes may affect the health and safety of employees, depending on their duties which might involve the use of heavy machinery, the manual handling of loads or repetitive work. Such work could cause workplace injuries, with possibly serious consequences for the persons concerned.	Direct	Pot	N	S	Action S.1 S.2

emarket sdir storage
CERTIFIED

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
S1	Own workforce	Working conditions	Collective bargaining, including rate of workers covered by collective agreements	In certain countries in which the Group operates, local regulations might have only defined a simple negotiating framework, indeed if one exists at all. This situation might reduce the ability of employees to express themselves effectively when negotiating contractual conditions, with a possible negative impact on industrial relations that undermines the ability of the business to attract and retain talent over the long term.	Direct	Pot	N	S
S1	Own workforce	Equal treatment and opportunities for all	Gender equality and equal pay for equal work of equal value	Group operations in jurisdictions with different regulatory frameworks for civil rights could generate a potential negative impact on gender equality. Working in contexts that offer weak protections for diversity and non-discrimination exposes the workers to the risk of unequal treatment and restricted access to equal career and remuneration opportunities, compromising the standards of dignified work promoted by the Group.	Direct	Pot	N	S
S1	Own workforce	Equal treatment and opportunities for all	Employment and inclusion of persons with disabilities	Group operations in jurisdictions with different regulatory frameworks for civil rights could generate a potential negative impact on the protection of disabilities. Working in contexts that offer weak protections for diversity and non-discrimination exposes the workers to the risk of unequal treatment and restricted access to equal career and remuneration opportunities, compromising the standards of dignified work promoted by the Group.	Direct	Pot	N	S
S1	Own workforce	Equal treatment and opportunities for all	Measures against violence and harassment in the workplace	Group operations around the world in jurisdictions with limited legal protections exposes workers to potential negative impacts linked to violence and harassment in the workplace. Such situations might compromise their right to the safe and dignified working environment promoted by the Group.	Direct	Pot	N	S

A. REPORT ON OPERATIONS FOR 2025

ESRS	Topic	Subtopic	Sub subtopic	Description of impact	Position within value chain	Act / Pot	P / N	Time horiz.	ESG plan
S1	Own workforce	Equal treatment and opportunities for all	Diversity	Group operations in jurisdictions with different regulatory frameworks for civil rights could generate a potential negative impact on the protection of diversity. Working in contexts that offer weak protections for diversity and non-discrimination exposes the workers to the risk of unequal treatment and restricted access to equal career and remuneration opportunities, compromising the standards of dignified work promoted by the Group.	Direct	Pot	N	S	Action S.7
S1	Own workforce	Equal treatment and opportunities for all	Training and skills development	Failure to update the professional skills of employees, via the implementation of training pathways, could have a negative impact on productivity and general business performance.	Direct	Pot	N	M	Action S.3
S1	Own workforce	Other work related rights	Privacy	Information systems are becoming an ever more fundamental part of the Group's business, and ensuring their security is a priority. If not adequately protected, sensitive employee data could be disclosed externally and threaten privacy compliance.	Direct	Pot	N	S
S2	Workers in the value chain	Other work related rights	Child labor	The presence of the Group in global markets with weak regulatory frameworks for the protection of workers exposes value-chain workers to the risks of abuse and harassment. Poor oversight of diversity and non-discrimination in those geographical areas encourages the potential violation of human rights and failure to satisfy the minimum standard for dignified work, even resulting in the exploitation of child labor.	Up	Pot	N	S
S2	Workers in the value chain	Other work related rights	Forced labor	The presence of the Group in global markets with weak regulatory frameworks for the protection of workers exposes value-chain workers to the risks of abuse and harassment. Poor oversight of diversity and non-discrimination in those geographical areas encourages the potential violation of human rights and failure to satisfy the minimum standard for dignified work, even resulting in the exploitation of forced labor.	Up	Pot	N	S

emarket sdir storage
CERTIFIED

					Position
ESRS	Topic	Subtopic	Sub subtopic	Description of impact	within value chain	Act / Pot	P / N	Time horiz.	ESG plan
S2	Workers in the value chain	Other work related rights	Privacy	Information systems are becoming an ever more fundamental part of the Group's business, and ensuring their security is a priority. If not adequately protected, the sensitive data of suppliers and their employees could be disclosed externally and threaten privacy compliance.	Up	Pot	N	S
S2	Workers in the value chain	Working conditions	Health and safety	Given the geographical dislocation of suppliers and the complexity of the supply chain, upstream workers might be exposed to health and safety risks in the workplace, such as the use of dangerous chemical substances, unsafe machinery and exaggerated work pressures. This potential negative impact could well correlate with jurisdictions that have poor regulatory standards and controls.	Up	Pot	N	S
S4	Consumers and end-users	Information related impacts for consumers and/or end users	Privacy	Information systems are becoming an ever more fundamental part of the Group's business, and ensuring their security is a priority. If not adequately protected, sensitive customer data could be disclosed externally and threaten privacy compliance.	Direct	Pot	N	S
G1	Business conduct	Management of relationships with suppliers including payment practices		Payment terms that are excessively extended or influenced by the contractual power of the Group could have a negative impact on the financial equilibrium and liquidity management of suppliers.	Direct	Pot	N	M
G1	Business conduct	Corporate culture		Failure to strive for progressive alignment with corporate governance best practices could have indirect negative impacts on stakeholders.	Direct	Pot	N	L	Action G.1 G.2
G1	Business conduct	Protection of whistle blowers		Failure to promote and protect a collaborative and transparent environment could have indirect negative impacts on stakeholders.	Direct	Pot	N	L

2025 summary table of impacts

ESRS	No. of		Position within value chain			Time horizon
	impacts	Up	Direct	Down	Short	Medium	Long
E1	6	2	2	2	-	-	6
E2	3	3	-	-	-	3	-
E3	4	2	2	-	4	-	-
E5	3	-	2	1	2	1	-
S1	8	-	8	-	7	1	-
S2	4	4	-	-	4	-	-
S4	1	-	1	-	1	-	-
G1	3	-	3	-	-	1	2
Total	32	7	18	7	18	6	8

The following table presents the risks and opportuni�es iden�fied from the 2025 double materiality analysis, specifying:

• where they manifest throughout the value chain;
• if the effects are actual (current) and/or poten�al.

The following are also indicated for each risk and opportunity:

• the risk factor concerned: A (Ac�ons), D (dependencies) or I (impact);
• Short (S), Medium (M) or Long (L) �me horizon;
• posi�on within the value chain: direct opera�ons (Direct), Upstream (Up) or Downstream (Down).

	ESRS Topic	Subtopic	Sub-subtopic	R / O	Description of risk / opportunity	Factor	Position within value chain	Time horizon
E1	Climate change	Mitigation		O	Via the monitoring of emissions and the definition of a decarbonization strategy, the Group seeks to consolidate its resilience and align proactively with the global climate targets and stakeholder expectations. The objective is to transform the management of climate impacts into a competitive advantage, consolidating the stability of the Group over the long term and seeking new business opportunities.	A	Direct	L
E1	Climate change	Adaptation		O	The Group seeks to strengthen its operational resilience and business continuity by embedding the analysis of physical-climate risks in its strategic processes. The objective is to transform the management of climate impacts into a competitive advantage, consolidating the stability of the Group over the long term and seeking new business opportunities.	A	Direct	L
E1	Climate change	Energy		O	The investments in energy efficiency and procurement from renewable sources act as competitive drivers, enabling the Group to mitigate its vulnerability to possible energy market shocks. This strategy transforms the need to lower Scope 2 emissions into an opportunity to strengthen operational resilience.	A	Direct	L
E1	Climate change	Mitigation		O	By developing financial opportunities linked to the energy transition, the Group could gain reputational benefits, thereby attracting environmentally conscious clients and investors. Additionally, the adoption of energy efficient technologies and sustainable practices leads to significant cost savings.	D	Direct	M
E1	Climate change	Adaptation		O	By developing financial opportunities linked to the energy transition, the Group could gain reputational benefits, thereby attracting environmentally conscious clients and investors. Additionally, the adoption of energy efficient technologies and sustainable practices leads to significant cost savings.	D	Direct	M

A. REPORT ON OPERATIONS FOR 2025

	ESRS Topic	Subtopic	Sub-subtopic	R / O	Description of risk / opportunity	Factor	Position within value chain	Time horizon
E1	Climate change	Energy		O	By developing financial opportunities linked to the energy transition, the Group could gain reputational benefits, thereby attracting environmentally conscious clients and investors. Additionally, the adoption of energy efficient technologies and sustainable practices leads to significant cost savings.	D	Direct	M
E1 E1	Climate change Climate change	Mitigation Adaptation		R R	Climate change will result in increased regulatory pressures and obligations for undertakings to reduce their greenhouse gas emissions. Such obligations could generate higher operating costs for IPG. Moreover, customer preferences are shifting towards organizations that are committed to mitigating their GHG emissions. Should the Group fail to position itself among these companies, it could suffer reputational damage with a potential loss of market share. Climate change will result in increased regulatory pressures and obligations for undertakings to reduce their greenhouse gas emissions. Such obligations could generate higher operating costs for IPG. Moreover, customer preferences are shifting towards organizations that are committed to mitigating their GHG	I I	Direct Direct	M M
					emissions. Should the Group fail to position itself among these companies, it could suffer reputational damage with a potential loss of market share.
E1	Climate change	Adaptation		R	Climate-related events, such as extreme weather conditions, can cause damage to physical assets, requiring repair costs, replacements, or the impairment of affected assets. The increasing frequency and severity of such events could also necessitate investments in higher insurance premiums and general adaptation measures, leading to increased operating costs. Legal risks are also significant, as such issues could result in lawsuits and financial liabilities.	I	Direct	L
S1	Own workforce	Equal treatment and opportunities for all	Gender equality and equal pay for work of equal value	O	A diverse workforce can spark greater innovation and creativity, thus making the growth of the Group more sustainable. In addition, equal treatment represents an opportunity to attract and retain talent, while also ensuring full compliance with the regulations and lowering any potential legal risks.	A	Direct	M

emarket sdir storage
CERTIFIED

	ESRS Topic	Subtopic	Sub-subtopic	R / O	Description of risk / opportunity	Factor	Position within value chain	Time horizon
S1	Own workforce	Equal treatment and opportunities for all	Employment and inclusion of persons with disabilities	O	A diverse workforce can spark greater innovation and creativity, thus making the growth of the Group more sustainable. Furthermore, the promotion of an accessible working environment increases both the sense of belonging and workforce retention, with a positive impact in terms of the costs associated with employee turnover.	A	Direct	M
S1	Own workforce	Equal treatment and opportunities for all	Measures against violence and harassment in the workplace	O	A diverse workforce can spark greater innovation and creativity, thus making the growth of the Group more sustainable. In addition, the promotion of a respectful and protective working environment represents an opportunity to attract and retain talent, while also ensuring full compliance with the regulations and lowering any potential legal risks.	A	Direct	M
S1	Own workforce	Equal treatment and opportunities for all	Diversity	O	The promotion of a culture of respect stimulates collaboration and expansion of the corporate network. Transforming compliance obligations into an competitive opportunity improves the ability to attract and retain experienced human capital and lowers the exposure to dispute-related risks.	A	Direct	M
S1	Own workforce	Equal treatment and opportunities for all	Training and skills development	O	Training initiatives designed to promote for personnel growth and enhance career opportunities can lift employee morale and their sense of belonging. This approach enhances internal productivity and increases the attractiveness of the Group in the jobs market, encouraging the development of an ideal working environment for experienced personnel.	A	Direct	M
S1	Own workforce	Working conditions	-	R	Low workforce morale and the erosion of trust can have a serious impact on the operations and financial performance of a business. These factors may have an adverse impact on the reputation of the Group and lead to greater employee turnover (lower productivity, additional training and hiring costs)	D	Direct	M
S1	Own workforce	Working conditions	Health and safety	R	If insufficient attention is dedicated to the health and safety of employees, as in the case of workplace injuries caused by adequate preventive measures or the incorrect identification of risks, Interpump could be faced with an increase in compensation claims and legal penalties for failure to comply with the regulations. Furthermore, an unsafe working environment could result in an increase in employee turnover and a consequent reduction in productivity, in addition to reputational losses.	I	Direct	S

A. REPORT ON OPERATIONS FOR 2025

	ESRS Topic	Subtopic	Sub-subtopic	R / O	Description of risk / opportunity	Factor	Position within value chain	Time horizon
S1	Own workforce	Other work related rights	Privacy	R	Management of the sensitive data of employees is governed by national and international privacy protection laws. Should IT systems not be properly protected from unauthorized physical access, or fail to comply with all regulatory requirements, the Group could face fines and penalties.	I	Direct	S
S1	Own workforce	Other work related rights	Child labor	R	The adoption of inadequate protocols to safeguard the human rights of employees (child labor) exposes the Group to the risk of legal disputes and penalties, as well as to increased employee turnover and serious reputational losses.	I	Direct	S
S1	Own workforce	Other work related rights	Forced labor	R	The adoption of inadequate protocols to safeguard the human rights of employees (forced labor) exposes the Group to the risk of legal disputes and penalties, as well as to increased employee turnover and serious reputational losses.	I	Direct	S
S2	Workers in the value chain	Other work related rights	Child labor	R	Risk of failure to identify unlawful or unethical conduct (child labor) within the supply chain. Against a background of increased regulatory severity (CSDDD), the incompleteness of due diligence work could give rise to civil liability, administrative penalties and reputational losses, with consequent financial outflows and a loss of market confidence.	D	Up	S
S2	Workers in the value chain	Other work related rights	Forced labor	R	Risk of failure to identify unlawful or unethical conduct (forced labor) within the supply chain. Against a background of increased regulatory severity (CSDDD), the incompleteness of due diligence work could give rise to civil liability, administrative penalties and reputational losses, with consequent financial outflows and a loss of market confidence.	D	Up	S
S2	Workers in the value chain	Other work related rights	Privacy	R	Management of the sensitive data of suppliers is governed by national and international privacy protection laws. Should IT systems not be properly protected from unauthorized physical access, or fail to comply with all regulatory requirements, the Group could face fines and penalties.	I	Up	S
S4	Consumers and end-users	Impacts related to the information provided to consumers and/or end users	Privacy	R	Management of the sensitive data of customers is governed by national and international privacy protection laws. Should IT systems not be properly protected from unauthorized physical access, or fail to comply with all regulatory requirements, the Group could face fines and penalties.	I	Down	S

2025 summary table of risks and opportuni�es

ESRS	No.	Position within value chain			Time horizon
		Up	Direct	Down	Short	Medium	Long
E1 - Risks	3	-	3	-	-	2	1
E1 - Opportunities	6	-	6	-	-	3	3
S1 - Risks	5	-	5	-	4	1	-
S1 - Opportunities	5	-	5	-	-	5	-
S2 - Risks	3	3	-	-	3	-	-
S4 - Risks	1	-	-	1	1	-	-
Total	23	3	19	1	8	11	4

The Interpump Group has developed a business strategy that takes into account material impacts and risks, as well as the opportuni�es that may arise from them. Specifically, the Group has implemented a Risk Assessment process - coordinated by the Internal Audit, Risk & Compliance Func�on and updated annually - that takes sustainability maters into account.

No impacts, risks and opportuni�es are reported in 2025 via the provision of specific addi�onal informa�on. Furthermore, none of the risks iden�fied in the double materiality analysis are expected to increase significantly the likelihood of major adjustments to assets and liabili�es in the coming year.

The Group is finalizing the 2026-2028 ESG Strategic Plan, which will define opera�onal targets in close correla�on with the impacts, risks, and opportuni�es (IRO) iden�fied in the 2025 materiality analysis.

Management of Impacts, Risks, and Opportuni�es

IRO-1 - Descrip�on of the process to iden�fy and assess material impacts, risks, and opportuni�es

The ESRS standard establishes that a sustainability mater can be material from one or both of the following standpoints:

• impact dimension: a sustainability mater is material when it relates to the actual or poten�al impacts, whether posi�ve or nega�ve, of the business on people or the environment over the short, medium, or long term. These impacts can stem from ac�vi�es under the direct control of the business or from those within the upstream and downstream value chains.
• financial dimension: a sustainability mater is material if it could, or does, give rise to significant financial impacts on the business, whether nega�ve (risks) or posi�ve (opportuni�es) in nature. These risks and opportuni�es can stem from ac�vi�es under the direct control of the business or from those within the upstream and downstream value chains.

The Group has defined its sustainability priori�es via a double materiality analysis, the details of which are presented in the following sec�ons.

IMPACT MATERIALITY

In order to iden�fy the material sustainability maters, the Interpump Group started by iden�fying and assessing its impacts on people and the environment (inside-out view). This process was carried out in three phases:

Phase 1 - Understanding the context in which the Interpump Group operates: activities, business relationships, and geographies

The following were considered in order to iden�fy the material impacts of the Interpump Group on people and the environment:

• all direct opera�ons carried out, as detailed in the earlier sec�on en�tled "SBM-1: Strategy, business model, and value chain".
• the key business rela�onships of the Interpump Group, as detailed in the earlier sec�on en�tled "SBM-1: Strategy, business model, and value chain".
• all countries in which the Interpump Group operates and that have been analyzed with reference to two geographical macro-areas: "Europe, North America, Pacific Area" and "Rest of the world". This approach was adopted to analyze and highlight the impacts, risks, and opportuni�es (IROs) that mater most to the Group.

Phase 2 - Identification of the actual and potential impacts of the Group, including via dialog with the stakeholders

Stakeholder involvement was important, especially for the iden�fica�on of actual and poten�al nega�ve impacts that could influence their decisions about the Group. For a detailed profile of the stakeholders of the Interpump Group and the related engagement processes, see the earlier sec�on en�tled "SBM-2: Interests and views of stakeholders".

Phase 3 - Assessment and ranking of the materiality of the impacts identified

Two different scales were used to assess and rank the nega�ve and posi�ve impacts iden�fied:

Negative impacts	Positive impacts
Negative impacts were ranked by considering their likelihood of occurrence and their severity, based on the following factors:	Positive impacts were ranked by considering their likelihood of occurrence, as well as their scale and scope.
• Scale
how grave the impact is
• Scope
how widespread the impact is within the value chain concerned
• Irremediable character
to what extent a negative impact can be remediated

The Interpump Group assessed each aspect that determines the severity of an impact (scale, scope, irremediable character) scoring them from 1 to 5. The addi�on of these three separate scores determined the overall severity weigh�ng, in a range from 0 to 15. This sum was then upli�ed by a coefficient of 20% if the impact might have nega�ve effects on human rights.

This calculated value was then mul�plied by the likelihood of occurrence, which could range from 0.2 (unlikely) to 1 (certain).

On comple�on of this procedure, all impacts with a final score of less than 5 were deemed to be immaterial; conversely, those above that threshold were deemed to be material.

FINANCIAL MATERIALITY

A�er having iden�fied the material sustainability impacts, the Group iden�fied and assessed the sustainability risks and opportuni�es that have, or could have, short-, medium-, or long-term financial impacts on the Interpump Group.

These risks and opportuni�es were correlated with:

• the material impacts iden�fied as an output from the Impact Materiality analysis;
• the dependencies, being the external factors on which the organiza�on relies in order to carry out its ac�vi�es and achieve its objec�ves;
• ac�ons included in the 2023-2025 ESG Plan in order to mi�gate nega�ve impacts and/or maximize any posi�ve sustainability impacts.

Financial materiality was assessed with sole reference to the management ac�ons, policies and mi�ga�on measures already implemented by the Group; to do this, scores from 1 to 5 were assigned to the probability and magnitude parameters. Specifically, magnitude was considered as the impact of the risk/opportunity on EBITDA, consistent with the procedure using in the Group's ERM model. On comple�on of this procedure, all risks and opportuni�es with a final score of less than 1.6 were deemed to be immaterial; conversely, those above that threshold were deemed to be material.

DEFINITION OF MATERIAL SUSTAINABILITY TOPICS

The results of the two analyses (Impact Materiality and Financial Materiality) were aggregated into material impacts, risks, and opportuni�es, which were then used to define the material sustainability maters.

The Interpump Group involved certain stakeholders - including customers, suppliers, investors, top management, and Board members - in the process of assessing the importance of the material sustainability topics. In addi�on, as specified in the earlier sec�on en�tled "GOV-1: The role of the administrative, management, and supervisory bodies", the Board - assisted by the Sustainability Commitee - is involved, at least yearly, in an examina�on of the results of the process to iden�fy material topics for inclusion in the Sustainability Report.

In order to map risks fully, the Enterprise Risk Management (ERM) Model iden�fies sustainability risks using an approach that qualifies risk events as significant if they impact sustainability factors or topics deemed important for Interpump, including for the purpose of disclosure in this Report. Quan�fica�on took account of the assessments made for non-financial repor�ng purposes, including the double materiality analysis. For each impact, the controls implemented by the Group were also iden�fied.

Based on the double materiality analyses already carried out by the Group, the IROs linked to biodiversity are not deemed to be material. Given the limited impact of this topic on direct opera�ons, aten�on was focused on the first cluster of Tier 1 suppliers. That analysis sought to assess the importance atached to biodiversity by the Group's main suppliers of metal semi-finished goods, which are mostly based in Italy. Their registered addresses were used as a proxy for the loca�on of the produc�on plants, in order to check their proximity to MAB (Man and the Biosphere Programme) areas. While this was only a par�al analysis, needing more work over �me, biodiversity does not currently appear to be a material topic for this first cluster of suppliers.

IRO-2 - Disclosure requirements in ESRS covered by the undertaking's sustainability report

Following the double materiality analysis, eight material topics were iden�fied. Details can be found on the pages indicated in the following table:

ESRS	Subtopic	Sub-subtopic	Page
	Climate change adaptation	-	118
E1 - Climate change	Climate change mitigation	-	118
	Energy	-	118
	Pollution of air	-	135
E2 - Pollution	Pollution of soil	-	135
Pollution of water		-	135
E3 - Water and	Water	Water consumption	138
marine resources	Water	Water withdrawal	138
E5 - Resource use	Resource inflows, including resource use	-	145
and circular economy	Waste	-	145
	Working conditions	Health and safety	153
	Working conditions	Secure employment	153
	Working conditions	Adequate wages	153
	Working conditions	Social dialogue	153
	Working conditions	Collective bargaining, including rate of workers covered by collective agreements	153
	Equal treatment and opportunities for all	Gender equality and equal pay for work of equal value	153
S1 – Own	Equal treatment and opportunities for all	Training and skills development	153
workforce	Equal treatment and opportunities for all	Diversity	153
	Equal treatment and opportunities for all	Employment and inclusion of persons with disabilities	153
	Equal treatment and opportunities for all	Measures against violence and harassment in the workplace	153
	Other work-related rights	Child labor	153
	Other work-related rights	Forced labor	153
	Other work-related rights	Privacy	153
	Working conditions	Health and safety	174
S2 – Workers in the	Other work-related rights	Child labor	174
value chain	Other work-related rights	Forced labor	174
	Other work-related rights	Privacy	174
S4 – Consumers and end-users	Information-related impacts for consumers and/or end-users	Privacy	180
	Corporate culture	-	186
G1 – Business	Protection of whistle-blowers	-	186
conduct	Management of relationships with suppliers including payment practices	-	186

The Interpump Group has divided its impacts, risks, and opportuni�es into three thresholds of significance: low, medium, and high. The significance (medium or high) of material impacts, risks, and opportuni�es is detailed in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportuni�es and their interac�on with strategy and business model".

The following table below lists all the data points from EU regula�ons other than Delegated Regula�on 2023/5303 on European Sustainability Repor�ng Standards. The "Sec�on" column indicates the loca�on of each element within the Report or, alterna�vely, the wording "Not significant" if the topic was not deemed material following the double materiality analysis:

Disclosure requirement and related	Datapoint	SFDR reference 7	Pillar 3 reference ( 8)	Benchmark Regulation reference ( 9)	EU Climate Law reference ( 10)	Section
ESRS 2 GOV-1 Board's gender diversity	21-d	Annex I, Table 1, Indicator no. 13		Commission Delegated Regulation (EU) 2020/1816 11, Annex II		ESRS 2 GOV-1
ESRS 2 GOV-1 Percentage of Board members who are independent	21-e			Commission Delegated Regulation (EU) 2020/1816, Annex II		ESRS 2 GOV-1
ESRS 2 GOV-4 Statement on due diligence	30	Annex I, Table 3, Indicator no. 10				ESRS 2 GOV-4
ESRS 2 SBM-1 Involvement in activities related to fossil fuel activities	40-d-i	Annex I, Table 1, Indicator no. 4	Article 449a Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453 12 Table 1: Qualitative information on Environmental risk and Table 2: Qualitative information on Social risk	Commission Delegated Regulation (EU) 2020/1816, Annex II		Not significant
ESRS 2 SBM-1 Involvement in activities related to chemical production	40-d-ii	Annex I, Table 2, Indicator no. 9		Commission Delegated Regulation (EU) 2020/1816, Annex II		Not significant

¹² Commission Implemen�ng Regula�on (EU) 2022/2453 of 30 November 2022, amending the implemen�ng technical standards laid down in Implemen�ng Regula�on (EU) 2021/637 as regards the disclosure of environmental, social, and governance risks (OJ L 324, 19.12.2022, p. 1).

⁷ Regula�on (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019, on sustainability-related disclosures in the financial services sector (SFDR) (OJ L 317, 9.12.2019, p. 1).

⁸ Regula�on (EU) 575/2013 of the European Parliament and of the Council of 26 June 2013, on pruden�al requirements for credit ins�tu�ons and amending Regula�on (EU) 648/2012 (Capital Requirements Regula�on) (OJ L 176, 27.6.2013, p. 1).

⁹ Regula�on (EU) 2016/1011 of the European Parliament and of the Council of 8 June 2016, on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds, and amending Direc�ves 2008/48/EC and 2014/17/EU and Regula�on (EU) 596/2014 (OJ L 171, 29.6.2016, p. 1).

¹⁰ Regula�on (EU) 2021/1119 of the European Parliament and of the Council of 30 June 2021, establishing the framework for achieving climate neutrality and amending Regula�ons (EC) 401/2009 and (EU) 2018/1999 ("European Climate Law") (OJ L 243, 9.7.2021, p. 1).

¹¹ Commission Delegated Regula�on (EU) 2020/1816 of 17 July 2020, supplemen�ng Regula�on (EU) 2016/1011 of the European Parliament and of the Council as regards the explana�on in the benchmark statement of how environmental, social and governance factors are reflected in each benchmark provided and published (OJ L 406, 3.12.2020, p. 1).

Disclosure				Benchmark	EU Climate
requirement and related	Datapoint	SFDR reference 7	Pillar 3 reference ( 8)	Regulation reference ( 9)	Law reference ( 10)	Section
ESRS 2 SBM-1 Involvement in activities related to controversial weapons	40-d-iii	Annex I, Table 1, Indicator no. 14		Article 12(1) of Commission Delegated Regulation (EU) 2020/1818 and Annex II of Commission Delegated Regulation (EU) 2020/1816		Not significant
ESRS 2 SBM-1 Involvement in activities related to cultivation and production of tobacco	40-d-iv			Article 12(1) of Commission Delegated Regulation (EU) 2020/181813 and Annex II of Commission Delegated Regulation (EU) 2020/1816		Not significant
ESRS E1-1 Transition plan to reach climate neutrality by 2050	14				Article 2(1) of Regulation (EU) 2021/1119	ESRS E1-1
ESRS E1-1 Undertakings excluded from Paris aligned Benchmarks	16-g		Article 449a Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 1: Banking book - Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity	Article 12(1) d) to g) of Commission Delegated Regulation (EU) 2020/1818 and Article 12(2)		Not significant
ESRS E1-4 GHG emission reduction targets	34	Annex I, Table 2, Indicator no. 4	Article 449a Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 3: Banking book - Climate change transition risk: alignment metrics	Article 6 of Commission Delegated Regulation (EU) 2020/1818		ESRS E1-4
ESRS E1-5 Energy consumption from fossil sources disaggregated by sources (only high climate impact sectors)	38	Annex I, Table 1, Indicator no. 5 and Annex I, Table 2, Indicator no. 5				ESRS E1-5

¹³ Commission Delegated Regula�on (EU) 2020/1818 of 17 July 2020, supplemen�ng Regula�on (EU) 2016/1011 of the European Parliament and of the Council, as regards minimum standards for EU Climate Transi�on Benchmarks and EU Paris-aligned Benchmarks (OJ L 406, 3.12.2020, p. 17).

Disclosure requirement and		SFDR		Benchmark Regulation	EU Climate Law
related	Datapoint	reference 7	Pillar 3 reference ( 8)	reference ( 9)	reference ( 10)	Section
ESRS E1-5 Energy consumption and mix	37	Annex I, Table 1, Indicator no. 5				ESRS E1-5
ESRS E1-5 Energy intensity associated with activities in high climate impact sectors	40-43	Annex I, Table 1, Indicator no. 6				ESRS E1-5
ESRS E1-6 Gross Scopes 1, 2, 3 and Total GHG emissions	44	Annex I, Table 1, Indicator nos. 1 and 2	Article 449a Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 1: Banking book - Climate change transition risk: Credit quality of exposures by sector, emissions and residual maturity	Articles 5(1), 6 and 8(1) of Commission Delegated Regulation (EU) 2020/1818		ESRS E1-6
ESRS E1-6 Gross GHG emissions intensity	53-55	Annex I, Table 1, Indicator no. 3	Article 449a Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, Template 3: Banking book - Climate change transition risk: alignment metrics	Article 8(1) of Commission Delegated Regulation (EU) 2020/1818		ESRS E1-6
ESRS E1-7 GHG removals and carbon credits	56				Article 2(1) of Regulation (EU) 2021/1119	Not significant
ESRS E1-9 Exposure of the benchmark portfolio to climate related physical risks	66			Annex II of Commission Delegated Regulation (EU) 2020/1818 and Annex II of Commission Delegated Regulation (EU) 2020/1816		Phase-in
ESRS E1-9 Disaggregation of monetary amounts by acute and chronic physical risk ESRS E1-9 Location of significant assets at material physical risk	66-a; 66-c		Article 449a of Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, paragraphs 46 and 47; Template 5: Banking book - Climate change physical risk: Exposures subject to physical risk			Phase-in

emarket sdir storage
CERTIFIED

Disclosure requirement and		SFDR		Benchmark Regulation	EU Climate Law
related	Datapoint	reference 7	Pillar 3 reference ( 8)	reference ( 9)	reference ( 10)	Section
ESRS E1-9 Breakdown of the carrying value of its real estate assets by energy efficiency classes	67-c		Article 449a of Regulation (EU) 575/2013; Commission Implementing Regulation (EU) 2022/2453, paragraph 34; Template 2: Banking book - Climate change transition risk: Loans collateralized by immovable property - Energy efficiency of the collateral			Phase-in
ESRS E1-9 Degree of exposure of the portfolio to climate related opportunities	69			Annex II of Commission Delegated Regulation (EU) 2020/1818		Phase-in
ESRS E2-4 Amount of each pollutant listed in Annex II of the E PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water and soil	28	Annex I, Table 1, Indicator no. 8, Annex I, Table 2, Indicator no. 2, Annex I, Table 2, Indicator no. 1, Annex I, Table 2, Indicator no. 3				Not significant
ESRS E3-1 Water and marine resources	9	Annex I, Table 2, Indicator no. 7				ESRS E3-1
ESRS E3-1 Dedicated policy	13	Annex I, Table 2, Indicator no. 8				ESRS E3-1
ESRS E3-1 Sustainable oceans and seas	14	Annex I, Table 2, Indicator no. 12				ESRS E3-1
ESRS E3-4 Total water recycled and reused	28-c	Annex I, Table 2, Indicator no. 6.2				ESRS E3-4
ESRS E3-4 Total water consumption in m3 per net revenue from own operations	29	Annex I, Table 2, Indicator no. 6.1				ESRS E3-4
ESRS 2 IRO-1 – E4	16-a-i	Annex I, Table 1, Indicator no. 7				Not significant
ESRS 2 IRO-1 – E4	16-b	Annex I, Table 2, Indicator no. 10				Not significant
ESRS 2 IRO-1 – E4	16-c	Annex I, Table 2, Indicator no. 14				Not significant

Disclosure requirement and		SFDR		Benchmark Regulation	EU Climate Law
related ESRS E4-2 Sustainable	Datapoint 24-b	reference 7 Annex I, Table	Pillar 3 reference ( 8)	reference ( 9)	reference ( 10)	Section Not
land / agriculture practices or policies		2, Indicator no. 11				significant
ESRS E4-2 Sustainable oceans / seas practices or policies	24-c	Annex I, Table 2, Indicator no. 12				Not significant
ESRS E4-2 Policies to address deforestation	24-d	Annex I, Table 2, Indicator no. 15				Not significant
ESRS E5-5 Non recycled waste	37-d	Annex I, Table 2, Indicator no. 13				ESRS E5-5
ESRS E5-5 Hazardous waste and radioactive waste	39	Annex I, Table 1, Indicator no. 9				ESRS E5-5
ESRS 2 SBM3 – S1 Risk of incidents of forced labor	14-f	Annex I, Table 3, Indicator no. 13				ESRS 2 SBM3 – S1
ESRS 2 SBM3 – S1 Risk of incidents of child labor	14-g	Annex I, Table 3, Indicator no. 12				ESRS 2 SBM3 – S1
ESRS S1-1 Human rights policy commitments	20	Annex I, Table 3, Indicator no. 9 and Annex I, Table 1, Indicator no. 11				ESRS S1-1
ESRS S1-1 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8	21			Commission Delegated Regulation (EU) 2020/1816, Annex II		ESRS S1-1
ESRS S1-1 Processes and measures for preventing trafficking in human beings	22	Annex I, Table 3, Indicator no. 11				ESRS S1-1
ESRS S1-1 Workplace accident prevention policy or management system	23	Annex I, Table 3, Indicator no. 1				ESRS S1-1
ESRS S1-3 Grievance/complaints handling mechanisms	32-c	Annex I, Table 3, Indicator no. 5				ESRS S1-3
ESRS S1-14 Number of fatalities and number and rate of work related accidents	88-b; 88-c	Annex I, Table 3, Indicator no. 2		Commission Delegated Regulation (EU) 2020/1816, Annex II		ESRS S1-14
ESRS S1-14 Number of days lost to injuries, accidents, fatalities or illness	88-e	Annex I, Table 3, Indicator no. 3				S1-14

Disclosure requirement and related	Datapoint	SFDR reference 7	Pillar 3 reference ( 8)	Benchmark Regulation reference ( 9)	EU Climate Law reference ( 10)	Section
ESRS 2 SBM3 – S1 Risk of incidents of forced labor	14-f	Annex I, Table 3, Indicator no. 13				ESRS 2 SBM3 – S1
ESRS S1-16 Unadjusted gender pay gap	97-a	Annex I, Table 1, Indicator no. 12		Commission Delegated Regulation (EU) 2020/1816, Annex II		ESRS S1-16
ESRS S1-16 Excessive CEO pay ratio	97-b	Annex I, Table 3, Indicator no. 8				ESRS S1-16
ESRS S1-17 Incidents of discrimination	103-a	Annex I, Table 3, Indicator no. 7				ESRS S1-17
ESRS S1-17 Non respect of UNGPs on Business and Human Rights and OECD Guidelines	104-a	Annex I, Table 1, Indicator no. 10 and Annex I, Table 3, Indicator no. 14		Annex II of Commission Delegated Regulation (EU) 2020/1816 and Article 12(1) of Commission Delegated Regulation (EU) 2020/1818		ESRS S1-17
ESRS 2- SBM3 – S2 Significant risk of child labor or forced labor in the value chain	11-b	Annex I, Table 3, Indicator nos. 12 and 13				ESRS 2 SBM-3 – S2
ESRS S2-1 Human rights policy commitments	17	Annex I, Table 3, Indicator no. 9 and Annex I, Table 1, Indicator no. 11				ESRS S2-1
ESRS S2-1 Policies related to value chain workers	18	Annex I, Table 3, Indicator nos. 11 and 4				ESRS S2-1
ESRS S2-1 Non respect of UNGPs on Business and Human Rights and OECD Guidelines	19	Annex I, Table 1, Indicator no. 10		Annex II of Commission Delegated Regulation (EU) 2020/1816 and Article 12(1) of Commission Delegated Regulation (EU) 2020/1818		ESRS S2-1
ESRS S2-1 Due diligence policies on issues addressed by the fundamental International Labor Organisation Conventions 1 to 8	19			Commission Delegated Regulation (EU) 2020/1816, Annex II		ESRS S2-1

A. REPORT ON OPERATIONS FOR 2025

Disclosure				Benchmark	EU Climate
requirement and related	Datapoint	SFDR reference 7	Pillar 3 reference ( 8)	Regulation reference ( 9)	Law reference ( 10)	Section
ESRS S2-4 Human rights issues and incidents connected to its upstream and downstream value chain	36	Annex I, Table 3, Indicator no. 14				ESRS S2-4
ESRS S3-1 Human rights policy commitments	16	Annex I, Table 3, Indicator no. 9 and Annex I, Table 1, Indicator no. 11				Not significant
ESRS S3-1 Non-respect of UNGPs on Business and Human Rights, ILO principles and/or OECD Guidelines	17	Annex I, Table 1, Indicator no. 10		Annex II of Commission Delegated Regulation (EU) 2020/1816 and Article 12(1) of Commission Delegated Regulation (EU) 2020/1818		Not significant
ESRS S3-4 Human rights issues and incidents	36	Annex I, Table 3, Indicator no. 14				Not significant
ESRS S4-1 Policies related to consumers and end-users	16	Annex I, Table 3, Indicator no. 9 and Annex I, Table 1, Indicator no. 11				ESRS S4-1
ESRS S4-1 Non-respect of UNGPs on Business and Human Rights and OECD Guidelines	17	Annex I, Table 1, Indicator no. 10		Annex II of Commission Delegated Regulation (EU) 2020/1816 and Article 12(1) of Commission Delegated Regulation (EU) 2020/1818		ESRS S4-1
ESRS S4-4 Human rights issues and incidents	35	Annex I, Table 3, Indicator no. 14				ESRS S4-4
ESRS G1-1 United Nations Convention against Corruption	10-b	Annex I, Table 3, Indicator no. 15				Not significant
ESRS G1-1 Protection of whistle-blowers	10-d	Annex I, Table 3, Indicator no. 6				ESRS G1-1
ESRS G1-4 Fines for violation of anti corruption and anti bribery laws	24-a	Annex I, Table 3, Indicator no. 17		Annex II of Commission Delegated Regulation (EU) 2020/1816		Not significant

ENVIRONMENTAL INFORMATION

As required by the regula�ons, this sec�on first presents details of the alignment with the EU Taxonomy (art. 8 Reg. 2020/852), then examines and reports on the environmental impacts, risks, and opportuni�es (IRO) iden�fied in the materiality analysis:

• DISCLOSURE UNDER THE TAXONOMY REGULATION
• ESRS E1 CLIMATE CHANGE
• ESRS E2 POLLUTION
• ESRS E3 WATER AND MARINE RESOURCES
• ESRS E5 RESOURCE USE AND CIRCULAR ECONOMY

DISCLOSURE UNDER THE TAXONOMY REGULATION

Introduc�on

In order to achieve the climate and energy goals set for 2030 and 2050 in the European Green Deal, the European has deemed it essen�al to guide private sector investment towards sustainable projects and ini�a�ves. For this purpose, the European Taxonomy was introduced with the aim of crea�ng a tool to report, transparently and objec�vely, those economic ac�vi�es that contribute substan�ally to the goals of the European Green Deal. Regula�on (EU) 2020/852 (hereina�er, the "Taxonomy Regula�on" or "Regula�on"), which entered into force on 12 July 2020, defines the criteria under which a given economic ac�vity can be considered environmentally sustainable.

Pursuant to art. 3 of the Taxonomy Regula�on, an economic ac�vity is considered "environmentally sustainable" if it:

• complies with the Technical Screening Criteria defined, on a scien�fic basis, for each ac�vity included in the Taxonomy Regula�on. Consistency with the Technical Screening Criteria ensures that an economic ac�vity:
• contributes substan�ally to one or more of the six environmental objec�ves set out in Ar�cle 9 of the Regula�on, which are listed below:
• Climate change mi�ga�on;
• Climate change adapta�on;
• The sustainable use and protec�on of water and marine resources;
• The transi�on to a circular economy;
• Pollu�on preven�on and control;
• The protec�on and restora�on of biodiversity and ecosystems.
• does no significant harm to any of the five remaining environmental objec�ves;
• is carried out in compliance with the Minimum Safeguards specified in art. 18 of the Regula�on - to ensure alignment with the OECD Guidelines for Mul�na�onal Enterprises and the UN Guiding Principles on Business and Human Rights.

From January 2022, companies subject to the NFRD Direc�ve (EU 2014/95) must include the disclosures required by the Taxonomy Regula�on (EU 2020/852) in their Consolidated Non-Financial Statement (NFS). This requirement also exists in the CSRD, with the need to report the KPIs for ecosustainable turnover, CapEx and OpEx. Businesses, including the Interpump Group, are must therefore check, via the Taxonomy Delegated Acts, the eligibility and alignment of their economic ac�vi�es with the related technical screening criteria.

Eligible ac�vi�es

The concept of eligibility does not require compliance with the technical screening criteria: an economic ac�vity is considered eligible if it falls within the regulatory scope of the Delegated Acts. Eligible ac�vi�es comprise the subset of business ac�vi�es that, poten�ally, can be aligned with the environmental objec�ves of the European Union. Conversely, ac�vi�es not addressed by the regula�ons are defined as ineligible.

Aligned ac�vi�es

An economic ac�vity is only deemed aligned when, in addi�on to being eligible, it sa�sfies all three of the following condi�ons: contributes substan�ally to one of the EU's environmental objec�ves; does no significant harm (DNSH) to other objec�ves, and guarantees respect for the minimum social safeguards.

Assessment of compliance with the Regula�on

Eligibility analysis

In 2025, the Interpump Group mapped the ac�vi�es carried out by individual companies within the Group that can be associated with ac�vi�es included in the Taxonomy Regula�on, checking, in each case, for consistency between the provisions of the Regula�on and the substance of their ac�vi�es. Where necessary, the respec�ve NACE codes were also considered to beter corroborate the analysis. Based on these results, the propor�on of Turnover, CapEx, and OpEx atributable to "Taxonomyeligible" ac�vi�es listed in the "Climate Delegated Act" and the "Environmental Delegated Act" was evaluated with in rela�on to the following objec�ves:

• Climate Change Mi�ga�on (CCM);
• Transi�on to a circular economy (CE).

Double coun�ng was avoided by individual examina�on of each item associated with ac�vi�es classified as eligible, and comple�on of the taxonomy templates in accordance with the provisions of the Regula�on. On comple�on of this process, the ac�vi�es of the Group were associated with the following categories included in the Taxonomy Regula�on:

1.2 - Manufacture of electrical and electronic equipment (CE)

Based on the defini�on of Electrical and Electronic Equipment (EEE), this category could poten�ally include all equipment that depends on electric currents or electromagne�c fields to func�on properly.

For the 2025 repor�ng year, the Group opted for a more restric�ve interpreta�on of the Regula�on, considering just electronic products to be eligible, while excluding those that are merely electrical. For this purpose, electromechanical products and systems were included where:

• the electronic component is a defining element of the contribu�on made by Group companies;
• the added value is primarily atributable to the electronic component and the underlying applied research;
• the purchasing decision made by the customer is essen�ally linked to the electronic component and its intrinsic connec�on to the mechanical part.

Based on this approach, the propor�on of Turnover, OpEx, and CapEx atributable to this ac�vity, with respect to the related 2025 consolidated amounts, was as follows:

• Turnover 2.0%
• CapEx 0.3%
• OpEx 0.5%

By way of example, the categories include several of the principal Group companies and their products:

• Walvoil S.p.A., electronic control units, electronic joys�cks, hydraulic distributors with sensors, and advanced hydraulic servocontrols. In all these cases, it is possible to iden�fy the presence of an electronic board designed internally and a programmable electronic component (typically a CPU or an advanced sensor);
• Muncie Power Inc. custom-designed modules that ac�vate gradually the clutch system on power take-offs (PTO), thus preven�ng peak torque and modula�ng propor�onately the amperage applied;
• Hammelmann GmbH, high-pressure pumps characterized by so�ware and remote control systems designed en�rely by internal teams to provide a highly intui�ve interface for each use case.

3.9 Manufacture of iron and steel (CCM)

This category includes the ac�vi�es of IPG Mouldtech, a Group company engaged in producing gray, vermicular graphite, and duc�le iron cas�ngs for other Group companies. For this purpose, the CapEx related to foundry management and the associated OpEx linked to the maintenance and repair of the plant were considered in full. For the current repor�ng year, the incidence of CapEx allocated to this ac�vity on the total consolidated increase in tangible fixed assets was 0.1%, while OpEx accounted for 0.2% of the total. In terms of turnover, IPG Mouldtech works almost exclusively in support of the Group's internal produc�vity. Consistent with the requirements of the Taxonomy Regula�on, which excludes intercompany transac�ons from KPI calcula�ons, the report only considers the sales made to external par�es, totaling € 0.1 million in 2025.

5.1 - Repair, refurbishment, and remanufacturing (CE)

The Group has considered eligible solely the revenues from repair, refurbishment, and remanufacturing ac�vi�es by Group companies whose NACE codes are iden�fied in the Regula�on for this specific ac�vity. Accordingly, only repairs of products manufactured by Interpump Hydraulics S.p.A. were considered. The incidence of this revenue on the consolidated total was less than 0.01%. This category includes revenues from restora�on work carried out following failures during use, which may involve disassembling components, reworking and/or replacing damaged parts, and subsequent reassembly.

5.2 Sale of spare parts (CE)

Pursuant to the Taxonomy Regula�on, revenues deriving from the sale of spare parts are only eligible if used in products manufactured by Group companies whose NACE codes are listed in the ac�vity descrip�on. Thus, only the sales of spare parts for components manufactured by Interpump Hydraulics S.p.A. (such as hydraulic cylinders and seals) were considered. For 2025, the incidence of revenue from this ac�vity on the consolidated total was 0.1%.

7.1 Construc�on of new buildings (CCM/CE)

The Group has considered as eligible, under CapEx C, the increase in tangible fixed assets associated with the construc�on of new buildings and produc�on plants. This amount includes all systems, connec�ons, and appurtenances that are an integral part of the construc�on project. For 2025, the

incidence of CapEx allocated to this ac�vity on the total consolidated increase in tangible fixed assets was about 4.9%.

7.2 Renova�on of exis�ng buildings (CCA/CE)

The eligible CapEx C included work, whether or not capitalized, on the extraordinary maintenance of proper�es and any improvements made to Group buildings. For 2025, the incidence of CapEx allocated to this ac�vity on the total consolidated increase in tangible fixed assets was 1.7%, while OpEx accounted for 0.8% of the total.

7.6 - Installa�on, maintenance and repair of renewable energy technologies (CCM)

This ac�vity includes the Group's investments in the purchase and installa�on of photovoltaic panels on the roofs of its business premises (CapEx C). For 2025, the incidence of capital expenditure allocated to this ac�vity on the consolidated total was 0.9%.

Other eligible ac�vi�es in the construc�on and real estate category

The eligibility analysis conducted by the Group also iden�fied other investments, less significant in absolute terms, but s�ll classifiable as CapEx C in the construc�on and real estate category. These include:

• 7.3 Installa�on, maintenance and repair of energy efficiency equipment (CCM)
• 7.4 Installa�on, maintenance and repair of on-site charging sta�ons for electric vehicles (CCM)
• 7.5 Installa�on, maintenance and repair of instruments and devices for measuring, regula�ng, and controlling the energy performance of buildings (CCM)

For 2025, the combined incidence of CapEx allocated to these ac�vi�es on the total consolidated increase in tangible fixed assets was about 2.0%. Later tables provide further details about these various different ac�vi�es.

8.1 Data processing, hos�ng, and related ac�vi�es (CCM)

The Group has considered as eligible, under CapEx C and OpEx C respec�vely, the increase in tangible fixed assets associated with the establishment of data centers and servers, and the costs atributable to their management and maintenance. For 2025, the incidence of CapEx allocated to this ac�vity on the total consolidated increase in tangible fixed assets was 0.2%, while OpEx accounted for 0.7% of the total.

4.1 Provision of data-driven IT/OT solu�ons (CE)

The Group has considered as eligible, under CapEx C and OpEx C respec�vely, the increase in tangible fixed assets and the costs associated with the development, implementa�on, and maintenance of so�ware and systems to collect and analyze date, and generate insights into opera�onal performance. For 2025, the incidence of capital expenditure allocated to this ac�vity on the consolidated total was about 0.1%, while costs accounted for 0.4% of the total.

Alignment analysis

For the 2025 repor�ng year, the Interpump Group believes that none of the ac�vi�es considered eligible sa�sfy the corresponding Technical Screening Criteria men�oned in the Taxonomy Delegated Acts (the "Climate Delegated Act" and "Environmental Delegated Act"). This requirement must be sa�sfied so that ac�vi�es can, poten�ally, qualify as aligned with the Regula�on and be considered environmentally sustainable.

With regard to ac�vi�es 3.9 Manufacture of iron and steel, 7.1 Construc�on of new buildings, 7.2 Renova�on of exis�ng buildings, 7.6 Installa�on, maintenance, and repair of renewable energy technologies, and 8.1 Data processing, hos�ng, and related ac�vi�es, these considera�ons apply to the analyses carried out in rela�on to the Climate Change Mi�ga�on (CCM) objec�ve.

Minimum Safeguards

In order to check the alignment of its ac�vi�es with the Taxonomy Regula�on, the Interpump Group has analyzed the conformity of its responsible business management tools with the interna�onal standards for human and workers' rights referred to by ar�cle 18 of the Regula�on dealing with the Minimum Safeguards, which are:

• the OECD Guidelines for Mul�na�onal Enterprises;
• the UN Guiding Principles on Business and Human Rights, including the principles and rights established by the eight fundamental conven�ons iden�fied in the ILO (Interna�onal Labor Organiza�on) Declara�on on Fundamental Principles and Rights at Work;
• the Universal Declara�on of Human Rights.

Considera�on was also given to the indica�ons given by the Pla�orm on Sustainable Finance (PSF) in its Final Report on Minimum Safeguards, published in October 2022. The Interpump Group assessed its compliance with the Minimum Safeguards with reference to nine criteria covering: Human and workers' rights; Corrup�on; Taxa�on; Unfair compe��on. The following table indicates the controls implemented by the Interpump Group in rela�on to topics associated with the Minimum Safeguards (see the chapter on "Governance informa�on" for more details):

Topic	Interpump Group controls	Description
Human rights	- Code of ethics - Guidelines on respect for human rights	The Interpump Group has a Code of Ethics, which confirms its commitment to respect human and workers' rights in compliance with the related international conventions. In February 2020, the Board of Directors of Interpump Group S.p.A. adopted its own "Human Rights Guidelines" to prevent discriminatory practices and combat both exploitation in the workplace and child labor. These Guidelines must be adopted by all Group companies, who are responsible for checking compliance with them by their business partners, via evaluation processes and/or due diligence work.
Corruption	- Anti-corruption Guidelines	In March 2019, the Board of Directors of Interpump Group S.p.A. approved Anti-corruption Guidelines that are also mandatory for all Group companies and must be followed by all those who work on their behalf. These Guidelines are aligned with the related domestic and international laws and standards. Their proper application is monitored by the Group Internal Audit, Risk & Compliance function.

Topic	Interpump Group controls	Description
Taxation	- Code of ethics	Within its Code of Ethics, the Interpump Group defines the principles that underpin its approach to taxation.
		In this regard, the Group acts in full compliance with the domestic tax regulations of the countries in which it operates, as well as with those in force internationally.
Competition	- Code of ethics	Within its Code of Ethics, the Interpump Group defines the principles that underpin its approach to relations with competitors.

In addi�on to the controls in place to ensure ethical management (men�oned in the table), the Interpump Group has adopted a Whistleblowing Procedure that governs the repor�ng and management of alleged unlawful or improper ac�vi�es in areas covered by the minimum safeguards. Adop�ng a conserva�ve and pruden�al approach, the Group believes that current controls in place to ensure applica�on of the Minimum Safeguards are adequate and consistent with corporate and market expecta�ons but, nevertheless, insufficient to guarantee that the ac�vi�es iden�fied as eligible are also aligned.

Accoun�ng policy and contextual informa�on

Annex I of Delegated Act 2021/2178 (hereina�er "Disclosure Delegated Act") establishes the procedures to follow in order to determine the Turnover, CapEx, and OpEx KPIs associated with the eligible ac�vi�es iden�fied by the Interpump Group. The methodology used by the Group to calculate the KPIs detailed below.

Turnover

To determine the propor�on of turnover, the numerator included net revenues from products or services, including intangibles, associated with Taxonomy-eligible economic ac�vi�es, while the denominator comprised the total consolidated net revenues. The later included the revenues recognized pursuant to Interna�onal Accoun�ng Standard (IAS) 1, paragraph 82(a). The calcula�on of these KPIs excludes both intercompany financial flows and the value of components consumed within the internal produc�on chain, thus ensuring that the value generated is stated net.

CapEx

To determine the propor�on of capital expenditure, the numerator included the addi�ons to consolidated fixed assets associated with eligible ac�vi�es, while the denominator comprised total addi�ons to consolidated fixed assets; both items comply with the criteria defined in point 1.1.2.2 of Annex I to the "Disclosure Delegated Act". The consolidated total included all 2025 addi�ons to tangible and intangible fixed assets, all increases deriving from business combina�ons, and the effects of IFRS 16.

OpEx

To determine the propor�on of opera�ng expenses, the numerator included the opera�ng expenses associated with eligible ac�vi�es, defined using the criteria in point 1.1.3.2 of Annex I to the "Disclosure Delegated Act". Specifically, the Group considered the following opera�ng expenses: direct noncapitalized R&D costs, the cost of maintenance and repairs, and other expenses related to asset preserva�on. The denominator comprised total opera�ng expenses that sa�sfy the criteria described in point 1.1.3.1 of Annex I to the "Disclosure Delegated Act". Specifically, the following cost items were

included: direct non-capitalized costs that relate to research and development, building renova�on measures, short-term lease, maintenance and repair, and any other direct expenditures rela�ng to the day-to-day servicing of assets of property, plant and equipment by the undertaking or third party to whom ac�vi�es are outsourced that are necessary to ensure the con�nued and effec�ve func�oning of such assets.

Taxonomy – KPIs for eligible activities Summary table 2025-2024	Turnover		(CapEx)	Capital expenditure	Operating expenses (OpEx)
EUR M	2025	2024	2025	2024	2025	2024
1.2 - Manufacture of electrical and electronic equipment	40.9	24.5	0.5	0.3	0.3	0.3
3.9 - Manufacture of iron and steel	0.0	-	0.1	0.4	0.1	0.2
4.1 - Provision of data-driven IT/OT solutions	-	-	0.2	0.2	0.2	0.2
5.1 - Repair, refurbishment, and remanufacturing	0.1	0.3	-	-	-	-
5.2 Sale of spare parts	2.0	2.3	-	-	-	-
7.1 - Construction of new buildings	-	-	7.3	54.7	-	-
7.2 - Renovation of existing buildings	-	-	2.6	13.2	0.4	1.3
7.5 - Installation, maintenance and repair of instruments and devices for [] the energy performance of buildings	-	-	3.0	0.8	0.2	-
7.6 - Installation, maintenance and repair of renewable energy technologies	-	-	1.3	2.9	-	0.0
8.1 - Data processing, hosting, and related activities	-	-	0.3	0.8	0.4	0.6
Other	-	-	0.1	0.9	0.0	0.6
Total eligible	43.1	27.0	15.3	74.1	2.2	2.6
Admissibility - Taxonomy KPIs	2.1%	1.3%	10.3%	39.2%	2.9%	4.8%
Total aligned	-	-	-	-	-	-
Aligned - Taxonomy KPIs	-	-	-	-	-	-
Consolidated amounts	2070.7	2078.4	148.6	188.7	55.0	54.8

	Template 1 - Nuclear and fossil gas related activities
	Nuclear energy related activities
1	The undertaking carries out, funds or has exposures to research, development, demonstration and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle.	No
2	The undertaking carries out, funds or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies.	No
3	The undertaking carries out, funds or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production from nuclear energy, as well as their safety upgrades.	No
	Fossil gas related activities
1	The undertaking carries out, funds or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels.	No
2	The undertaking carries out, funds or has exposures to construction, refurbishment, and operation of combined heat/cool and power generation facilities using fossil gaseous fuels.	No
3	The undertaking carries out, funds or has exposures to construction, refurbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels.	No

CAPEX	2025				Criteria for substantial contribution							(do no significant harm)	DNSH criteria
Financial year 2025
Economic activities
	Code	(EUR M) CapEx	Proportion of CapEx, 2025	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Minimum safeguards	Proportion of Taxonomy-aligned or eligible CapEx, 2024	qualifying activity Category	transitional activity Category
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Eco-sustainable activities (taxonomy aligned)
CapEx of eco-sustainable activities (taxonomy aligned) (A.1)		-	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%								0.0%
of which qualifying		-	-															E
of which transitional		-	-																T
A.2 Taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities)
Manufacture of electrical and electronic equipment	CE 1.2	0.5	0.3%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.2%		T
Provision of data-driven IT/OT solutions	CE 4.1	0.2	0.1%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.1%	E
Manufacture of iron and steel	CCM 3.9	0.1	0.1%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.2%		T
Construction of new buildings	CCM 7.1 / CE 3.1	7.3	4.9%	EL	N/EL	N/EL	N/EL	EL	N/EL								29.0%
Renovation of existing buildings	CCM 7.2 / CE 3.2	2.6	1.7%	EL	N/EL	N/EL	N/EL	EL	N/EL								7.0%		T
Installation, maintenance and repair of energy efficiency equipment	CCM 7.3	0.1	0.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.4%	E
Installation, maintenance and repair of on-site charging stations for electric vehicles	CCM 7.4	0.0	0.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.1%	E
Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling the energy performance of buildings	CCM 7.5	3.0	2.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.0%	E
Installation, maintenance and repair of renewable energy technologies	CCM 7.6	1.3	0.9%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								1.5%	E
Acquisition and ownership of buildings	CCM 7.7	-	-	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.3%
Data processing, hosting, and related activities	CCM 8.1	0.3	0.2%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.4%		T
CapEx of taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities) (A.2)		15.3	10.3%	9.9%	0.0%	0.0%	0.0%	0.4%	0.0%								39.2%
A. CapEx on taxonomy-eligible activities (A.1+A.2)		15.3	10.3%	9.9%	0.0%	0.0%	0.0%	0.4%	0.0%								39.2%
B. TAXONOMY NON-ELIGIBLE ACTIVITIES
CapEx of taxonomy non-eligible activities		133.3	89.7%
Total (A+B)		148.6	100.0%

Proportion of CapEx	Taxonomy aligned by objective	Taxonomy eligible by objective
CCM	0.0%	9.9%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	0.4%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

emarket sdir storage
CERTIFIED

TURNOVER Financial year 2025	2025			Criteria for substantial contribution									DNSH criteria (do no significant harm)
Economic activities	Code	Turnover (EUR M)	Proportion of Turnover, 2025	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Minimum safeguards	Proportion of Taxonomy-aligned or eligible Turnover, 2024	qualifying activity Category	transitional activity Category
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Eco-sustainable activities (taxonomy aligned)
Turnover of eco-sustainable activities (taxonomy aligned) (A.1)		-	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%								0.0%
of which qualifying		-	-															E
of which transitional		-	-																T
A.2 Taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities)
Manufacture of electrical and electronic equipment	CE 1.2	40.9	2.0%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								1.2%		T
Sale of spare parts	CE 5.2	2.0	0.1%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.1%		T
Manufacture of iron and steel	CCM 3.9	0.1	0.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								-
Repair, refurbishment, and remanufacturing	CE 5.1	0.1	0.0%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.0%		T
Turnover of taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities) (A.2)		43.1	2.1%	0.0%	0.0%	0.0%	0.0%	2.5%	0.0%								1.3%
A. Turnover of taxonomy-eligible activities (A.1+A.2)		43.1	2.1%	0.0%	0.0%	0.0%	0.0%	2.5%	0.0%								1.3%
B. TAXONOMY NON-ELIGIBLE ACTIVITIES
Turnover of taxonomy non-eligible activities		2027.6 97.9%
Total (A+B)		2070.7 100.0%

Proportion of Turnover	Taxonomy aligned by objective	Taxonomy eligible by objective
CCM	0.0%	0.0%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	2.1%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

OPEX Financial year 2025	2025			Criteria for substantial contribution			DNSH criteria (do no significant harm)
Economic activities	Code	(EUR M) OpEx	Proportion of OpEx, 2025	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Climate change mitigation	Climate change adaptation	Water-Jetting	Pollution	Circular economy	Biodiversity	Minimum safeguards	Proportion of taxonomy aligned or eligible OpEx, 2024	qualifying activity Category	transitional activity Category
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1 Eco-sustainable activities (taxonomy aligned)
OpEx of eco-sustainable activities (taxonomy aligned) (A.1)		-	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%								0.0%
of which qualifying		-	-															E
of which transitional		-	-																T
A.2 Taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities)
Manufacture of electrical and electronic equipment	CE 1.2	0.3	0.5%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.6%		T
Manufacture of iron and steel	CCM 3.9	0.1	0.2%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.4%		T
Provision of data-driven IT/OT solutions	CE 4.1	0.2	0.4%	N/EL	N/EL	N/EL	N/EL	EL	N/EL								0.4%	E
Renovation of existing buildings	CCM 7.2 / CE 3.2	0.4	0.8%	EL	N/EL	N/EL	N/EL	EL	N/EL								2.3%		T
Installation, maintenance and repair of energy efficiency equipment	CCM 7.3	0.0	0.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								-	E
Installation, maintenance and repair of renewable energy technologies	CCM 7.4	0.0	0.0%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								0.0%	E
Installation, maintenance and repair of instruments and devices for measuring, regulating, and controlling the energy performance of buildings	CCM 7.5	0.2	0.3%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								-	E
Data processing, hosting, and related activities	CCM 8.1	0.4	0.7%	EL	N/EL	N/EL	N/EL	N/EL	N/EL								1.0%		T
OpEx of taxonomy-eligible activities that are not eco-sustainable (taxonomy non-aligned activities) (A.2)		1.6	2.9%	2.1%	0.0%	0.0%	0.0%	0.8%	0.0%								4.8%
A. OpEx of taxonomy-eligible activities (A.1+A.2)		1.6	2.9%	2.1%	0.0%	0.0%	0.0%	0.8%	0.0%								4.8%
B. TAXONOMY NON-ELIGIBLE ACTIVITIES
OpEx of taxonomy non-eligible activities		53.4	97.1%
Total (A+B)		55.0	100.0%

Proportion of OpEx	Taxonomy aligned by objective	Taxonomy eligible by objective
CCM	0.0%	2.1%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	0.8%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

ESRS E1 - CLIMATE CHANGE

Governance

ESRS 2 GOV-3 - Integra�on of sustainability-related performance in incen�ve schemes

As shown in Disclosure requirement "ESRS 2 GOV-3 - Integra�on of sustainability-related performance in incen�ve schemes", the Remunera�on Policy of Interpump Group S.p.A. seeks, inter alia, to link the remunera�on of Execu�ve Directors and Key Management Personnel with the achievement of ESG objec�ves, using short- and medium/long-term incen�ve schemes that apply sustainability metrics.

Specifically, when se�ng remunera�on, the:

• annual incen�ve system (MBO) envisages correla�on with the ESG objec�ves by iden�fying precise KPIs linked to achievement of the annual objec�ves specified in the 2023-2025 ESG Plan, assigning them a 15% weigh�ng with respect to the MBO as a whole.
• the medium/long-term incen�ve system (LTI), represented by the Interpump Incen�ve Plan for 2025-2027, also envisages that, for 15% of the op�ons offered to each beneficiary, the objec�ves assigned to them must contribute to the development and consolida�on of the ESG topics that inter alia are measurable and/or measured for non-financial repor�ng purposes.

Accordingly, remunera�on is based on the results effec�vely achieved in the ESG areas that are linked both to personal performance and to the crea�on of medium/long-term value for the Company.

Strategy

E1-1 - Transi�on plan for climate change mi�ga�on

On 10 November 2023, the Board of Directors of Interpump Group S.p.A. approved the Group's Decarboniza�on Strategy for 2023-32. This document lays the founda�ons for every environmental ini�a�ve envisaged in the 2023-25 ESG Plan and represents one of the principal ac�ons taken to embed ESG principles in the Group strategy.

The Decarboniza�on Strategy approved by the Group is based on the emissions of the companies within the consolida�on perimeter of the 2022 NFS 14. Although the perimeter of the Group has changed since, due to several M&A transac�ons, the targets set at that �me are s�ll considered to be atainable.

With regard to the medium/long-term decarboniza�on targets, the Group has commited to reducing its emissions by about 45% by 2032 (limited to Scope 1 and Scope 2 emissions). When preparing this document, the Interpump Group drew inspira�on from the Science-Based Targets ini�a�ve - SBTi (and thus from the broader goal of limi�ng global warming to 1.5°C as defined in the Paris Agreement), without formally joining it.

In fact, while the Group aims to lower Scope 1 and Scope 2 emissions by 45% by 2032, the SBTi targets a 42% reduc�on by 2030. This later target should be reached by the Group between 2030 and 2032. Further, the decarboniza�on strategy covers approximately 90% of total Scope 1 and Scope 2 emissions, closely approaching the 95% threshold envisaged in the SBTi approach.

While the perimeter and reference targets are inspired by the SBTi methodology, the Group's approach has not been formally validated by external experts.

A 30% reduc�on in Group Scope 1 and Scope 2 emissions by 2025 and greater focus on achieving the decarboniza�on targets set for 2030 and 2050 are key objec�ves of the Strategy that, consistent with the ESG Plan, applies to the en�re Group.

These targets were reached in 2025 by the combined applica�on of three main drivers: addi�onal photovoltaic installa�ons, the purchase of cer�fied green energy and, lastly, structured, long-term agreements for the purchase of power generated from renewable sources.

Currently, the Group has not established targets in the form of CapEx/OpEx Plans to align the economic ac�vi�es of the Group with the criteria specified in Commission Delegated Regula�on 2021/2139.

The exclusions envisaged in art. 12 of Regula�on 2020/1818 do not apply to the Interpump Group, which is therefore included in the Paris-aligned benchmarks.

The Group's decarboniza�on strategy represents an ini�al tool for linking business resilience, environmental parameters, and financial planning. In this phase, the focus has been on tackling the Scope 1 and Scope 2 emissions. The possible extension of the decarboniza�on strategy to Scope 3 emissions is currently the subject of internal analysis, which seeks to iden�fy the poten�al strategic

¹⁴ Compared with the 2022 financial consolida�on perimeter, the 2022 NFS perimeter did not include Eurofluid Hydraulic S.r.l. because it was acquired subsequent to 30 June 2022. See the Methodological Note in the 2022 NFS for more detailed informa�on.

and opera�onal drivers. These later emissions will most likely impact on the Group's business (directly or indirectly) and will have to be monitored and managed accordingly.

The Interpump Group uses just one so�ware suite to consolidate its ESG and economic-financial data, striving to combine environmental objec�ves, business strategies and financial planning. Such integra�on means that certain key opera�onal metrics (e.g. energy consump�on) can be associated directly with the related costs, thus strengthening the credibility of both sets of data. This approach delivers a deep understanding of the dynamics of value crea�on, permanently uni�ng industrial performance and sustainability.

Drawing on this extensive database, top management and the representa�ves of individual Group companies work in close collabora�on to define and implement the targets set in the 2023-2025 ESG Plan. This process balances the need for a centrally-defined strategy with the importance of recognizing the specific risks and opportuni�es exis�ng in the territories where Group companies operate.

When the Board of Interpump Group S.p.A. adopts sustainability policies, important contribu�ons are made by the:

• Sustainability Commitee, comprising the CEO and two independent directors;
• ESG managerial team, consis�ng of the CEO, the General Counsel & ESG Director, the CFO, and the Head of the Internal Audit, Risk & Compliance Func�on.

This structure ensures the efficacy of corporate projects, the accountability of decision-makers, and the steady dissemina�on of a sustainability culture. The combina�on of all these elements will be developed more fully in the next 2026-2028 ESG strategic plan, which the Group is currently preparing.

Although the Board of Directors of Interpump Group S.p.A. approved the Group's Decarboniza�on Strategy for 2023-2032 on 10 November 2023, this only par�ally represents a transi�on plan in the strict sense.

Regarding progress on implemen�ng the decarboniza�on strategy, during 2025:

• addi�onal photovoltaic systems were installed on the roofs of Group facili�es;
• the ten-year Power Purchase Agreement (PPA), signed with Statkra� Markets GmbH for the annual supply of 20 GWh of cer�fied green electricity, came into full effect.

All these efforts have made it possible to reduce the Group's emissions intensity (Scope 1 and Scope 2 - Market based) to 0.000028 t CO2eq/EUR, being 17% lower than in 2024 despite the essen�al stability of revenues.

The Interpump Group currently lacks a transi�on plan compliant with ESRS requirements; accordingly, the impacts, risks, and opportuni�es in this area have only been par�ally iden�fied and assessed. Once the transi�on plan has been prepared, Interpump will be in a posi�on to specify how the strategy and business model will be updated for compa�bility with the transi�on to a sustainable economy, how the exposure of corporate assets and ac�vi�es to transi�on risks and opportuni�es will be assessed, and what the short-, medium-, and long-term transi�on risks and opportuni�es will be. It will also be possible to quan�fy the corporate investment and financing allocated to this area, and the "locked-in" GHG emissions poten�ally atributable to the assets of the Group. Lastly, the comprehensive update of this Group policy will be completed by defining the related targets.

As an integral part of the transi�on plan, the resilience analysis - not yet available - will describe the key assump�ons and �me horizons underpinning the strategy and business model adopted to tackle climate change, as well as the mi�ga�on ac�ons and resources dedicated to their implementa�on.

ESRS 2 SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model

During 2025, the Interpump Group updated its simula�on of the impact of physical-climate risks on the carrying amount of its principal assets. The analysis covered all risks15, both chronic 16 and acute17, as listed in Commission Delegated Regula�on (EU) 2023/2772 (CSRD) 18.

The simula�on. carried out in collabora�on with an external advisor, made it possible to quan�fy the annual expected loss atributable to the effects of acute physical risks on the 25 most representa�ve sites. This analysis focused on the following categories of asset:

• Buildings
• Plant and machinery

The sample of corporate sites iden�fied represents 65% of the total consolidated replacement value of these categories of asset, and is also representa�ve of the geographical distribu�on of the Group and the respec�ve strategic importance in each country.

The simula�on was carried out with reference to:

• three climate scenarios consistent with the trends in the concentra�on of greenhouse gases (Representa�ve Concentra�on Pathways – RCP) and in socio-economic development (Shared Socioeconomic Pathways – SSP) defined by the IPCC;
• three different �me horizons: 2026, 2030 and 2050.

The simula�on took account of the risks expressed in gross terms and, accordingly, did not consider any mi�ga�on and adapta�on measures that Group companies may have taken to contain them.

In terms of their poten�al economic impact, the most significant physical-climate risks (gross) for Group sites are: tornadoes, subsidence and flooding.

This assessment included the scien�fic climate data processed by the so�ware used by the external advisor, such as CMIP6, ERA5, NASA, GDDP and CORDEX, in order to determine - with the greatest possible accuracy - the exposure to risk of the en�re surface area of the site, thus guaranteeing greater accuracy with respect to the use of individual datapoints.

¹⁷ Extreme and unexpected climate events, with immediate and poten�ally serious impacts on corporate assets.

¹⁵ Except for: Temperature fluctua�ons (chronic), change in prevailing winds (chronic), hydrological and rainfall variability (chronic), soil degrada�on (chronic), soil erosion (chronic), and cold/icy waves (acute), for which HDI has not yet developed scoring metrics.

¹⁶ Chronic risks: Gradual, persistent climate changes that, over �me, progressively influence the environment and infrastructure.

¹⁸ Commission delegated regula�on (EU) 2023/2772 of 31 July 2023 supplemen�ng Direc�ve 2013/34/EU of the European Parliament and of the Council as regards sustainability repor�ng standards, pages 88-89.

The Interpump Group:

• has not yet completed a specific analysis of its value chain with reference to physical-climate risks, which may be developed when preparing the transi�on plan;
• currently lacks a transi�on plan and, therefore, a resilience analysis compliant with ESRS requirements;
• is leveraging the phase-in provisions for repor�ng the an�cipated financial effects of material physical and transi�on risks.

Specifically with regard to physical risks, analysis of the projec�ons through 2030 did not iden�fy any significant issues for the Group's produc�on sites. For completeness, moderate but non-material impacts were iden�fied for some loca�ons that primarily host warehouses and logis�cs areas. Conversely, the long-term scenarios highlight greater uncertainty about the es�mates, linked to the evolu�on of climate models, mi�ga�on policies and adapta�on measures. Of course, climate change impacts may emerge over long �me horizons and these will be addressed properly when preparing any future analyses of the transi�on plan and resilience.

Management of Impacts, Risks, and Opportuni�es

ESRS 2 IRO-1 - Descrip�on of the process to iden�fy and assess material climaterelated impacts, risks, and opportuni�es

The methodology used to iden�fy the material sustainability impacts, risks, and opportuni�es took into account the aspects described in the sec�on en�tled "IRO-1: Descrip�on of the process to iden�fy and assess material impacts, risks, and opportuni�es", included in the chapter on General Disclosures (ESRS 2). This methodology was also applied to the analyses of climate change maters, which involved understanding the opera�onal context, iden�fying their impacts, risks, and opportuni�es, and then assessing and priori�zing them.

As indicated in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportuni�es and their interac�on with strategy and business model", included in the chapter on General Disclosures (ESRS 2), the double materiality analysis carried out by the Interpump Group iden�fied six current, material sustainability impacts, associated with two sub-topics: energy and climate change mi�ga�on. These impacts relate to greenhouse gas (GHG) emissions into the atmosphere and affect all phases of the value chain: upstream, direct opera�ons, and downstream.

The Group has mapped all primary sources of purchased energy, assessing their ac�vi�es in order to correlate them with the respec�ve emission factors and calculate the actual GHG emissions. With regard to poten�al future sources, no elements that differ from those reported in this document are currently iden�fied.

Concurrently, three material sustainability risks and six opportuni�es rela�ng to climate change were iden�fied, linked to three sub-topics: climate change mi�ga�on, climate change adapta�on, and energy. All risks and opportuni�es arise within the direct opera�ons of the Group.

As indicated in the earlier sec�on en�tled "ESRS 2 SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model", the Interpump Group has analyzed the primary climate risks that could affect its physical assets (plant, machinery, and equipment) and poten�ally disrupt normal business opera�ons.

The analysis of physical climate risks faced by the Interpump Group considered the evolu�on of impacts over three dis�nct �me horizons (2026, 2030 and 2050) and various IPCC reference scenarios. This simula�on helped to develop greater awareness of the poten�al effects on the Group's tangible fixed assets and long-term business planning. The findings, covering both the physical and the transi�onal risks iden�fied, are summarized in the earlier sec�on on ESRS 2 SBM-3.

E1-2 - Policies related to climate change mi�ga�on and adapta�on

As indicated earlier chapters, Interpump Group S.p.A. has approved a decarboniza�on strategy that fits within a broader framework of policies aimed at managing the impact of climate change. Specifically, the Interpump Group has not yet defined a transi�on plan that, inter alia, specifies how to manage the impacts, risks, and opportuni�es associated with climate change mi�ga�on and adapta�on. Accordingly, while the decarboniza�on strategy represents an ini�al step in this direc�on, the policy does not fully address the specific standards and requirements of the ESRS. In the future, the Group will consider defining new policies or upda�ng the current policy to include all the elements required by the above standards.

Again on this topic, note that the Product Ecodesign Guidelines adopted by the Group in the context of the 2023-2025 ESG Plan include considera�ons rela�ng to the:

• Efficient management of energy resources in the Guidelines, the Group commits to the more efficient use of energy in its produc�on processes and to the installa�on of renewable energy produc�on systems at its business loca�ons;
• Promo�on of Life Cycle Assessment (LCA) in the Guidelines, the Group states its goal of implemen�ng LCA for the most important products.

E1-3 - Ac�ons and resources related to climate change policies

The Interpump Group has not currently adopted ac�ons to manage impacts, risks, and opportuni�es related to climate change mi�ga�on that can be deemed to comply with ESRS requirements. In the future, the Group will consider defining or upda�ng ac�ons that include all the elements required by the standards. Once the transi�on plan has been completed, the Group will define policies in this area and the related ac�ons to implement them. The ac�ons envisaged for this area in the 2023-2025 ESG Plan were completed and the respec�ve targets reached during 2025.

In order to reach the targets envisaged in the Group's decarboniza�on strategy, two dis�nct drivers of decarboniza�on driver were implemented during 2025:

• Use of energy from renewable sources In total, during 2025 58 GWh of electricity were drawn from renewable sources, of which 20 GWh from the PPA 2025-2034 and the remaining 38 GWh from the purchase of cer�fied green electricity (GO). No direct investments are associated with this driver.
• Installa�on of new photovoltaic systems for energy produc�on In 2025, the addi�ons to tangible fixed assets atributable to this category totaled € 1.3 million. Opera�ng costs were not material and primarily related to plant maintenance and insurance. In total, the photovoltaic installa�ons of the Group, with an output of about 16 MWp, enabled the self-consump�on of 11 GWh of electricity in the Group's business processes.

The reduc�on in CO2-equivalent emissions was calculated as the difference between the respec�ve emissions reported in the market-based and loca�on-based scenarios.

While referring to the "Disclosure under the Taxonomy Regula�on" chapter for a more comprehensive analysis, the overall taxonomy-eligible CapEx value for the climate change mi�ga�on (CCM) objec�ve was 9.9% (€ 14.7 million) of the total addi�ons to consolidated fixed assets. To date, there is no specific CapEx plan to align the Group's ini�a�ves with the requirements of Commission Delegated Regula�on (EU) 2021/2178.

Metrics and targets

E1-4 - Objec�ves related to climate change mi�ga�on and adapta�on

As specified in the earlier sec�on en�tled "E1-1 - Transi�on plan for climate change mi�ga�on", the Decarboniza�on Strategy of the Interpump Group is essen�ally based on the emissions of the companies within the consolida�on perimeter of the 2022 NFS.

Ac�ons to reach these targets include, in par�cular, increased purchasing of cer�fied renewable electricity and the installa�on of new renewable energy produc�on systems at Group facili�es.

Interpump has commited to reducing its total Scope 1 and 2 emissions to 54,378 tCO2eq by 2030 and 48,969 tCO2eq by 2032, which compare with the 2022 baseline of 90,286 tCO2eq. This target reduc�on in total Scope 1 and Scope 2 emissions to 48,969 tCO2eq is approximately 40% lower than the 2022 baseline level.

The market-based method was used to calculate the Scope 2 emissions. The targets were determined by summing the expected Scope 1 and 2 emissions; accordingly, no disaggregated details are presented for each Scope. In defining the consolidated emission targets, none were established for Scope 3 emissions.

Addi�onally, the targets were defined for the sum of both Scope 1 and Scope 2 emissions with reference to the 2022 NFS consolida�on perimeter, which does not coincide with that used to prepare this Report. Given that the impacts of new acquisi�ons since the publica�on of the decarboniza�on strategy (November 2023) are not par�cularly significant, the Group has not yet updated the 2030 emission reduc�on targets for consistency with the 2025 repor�ng perimeter. Since the publica�on of the decarboniza�on strategy in 2023, the perimeter of the Group has expanded as a result of M&A ac�vity in the intervening period. The targets will be updated when preparing the transi�on plan and upda�ng the decarboniza�on strategy.

The process followed to calculate the targets commenced by defining the perimeter to be analyzed, having regard for the importance of companies in terms of their turnover and emissions with respect to the Group totals (regardless of their geographical loca�ons). The possible extension of the decarboniza�on process to the value chain will be explored in greater detail when preparing the transi�on plan.

The values indicated are all stated gross, without including the effect of any GHG removals, carbon credits, or other avoided emissions.

As previously men�oned, when se�ng its decarboniza�on targets on a Paris-aligned basis, the Interpump Group drew inspira�on from, without formally adhering to, the Science-Based Targets ini�a�ve (SBTi).

While the Interpump strategy encompasses all companies within the 2022 NFS perimeter, aten�on has focused on ac�ons that could be implemented by 29 Group companies, responsible for about 90% of consolidated emissions (Scope 1 and Scope 2) and third-party turnover.

In the context of defining the Interpump Group's Decarboniza�on Strategy, the three building blocks used for the scenario analysis are detailed below. The focus on the regulatory, physical and development environment in the industrial sector, both na�onally and interna�onally. This assessment

of poten�al future events provides a star�ng point for the prepara�on of the Group's decarboniza�on ac�on plan.

Regarding the regulatory context and the macro environment, the Sustainable Development Scenario (SDS) was adopted, which involves the escala�on of clean energy policies and investments in order to align the energy system with the key Sustainable Development Goals (SDGs).

In this scenario, all current net-zero emission commitments are sa�sfied in full, and extensive efforts are made to secure short-term emission reduc�ons; the advanced economies atain net-zero emissions by 2050, China by around 2060, and all other countries by no later than 2070. Without hypothesizing net-nega�ve emissions, this scenario is consistent with limi�ng the global temperature rise to 1.65°C (with a 50% probability). With some level of net-nega�ve emissions post-2070, the temperature increase could be curtailed to 1.5°C by 2100.

By contrast with regard to the physical scenario, Interpump's decarboniza�on strategy is based on the RCP 4.5 scenario. This scenario, developed by the Intergovernmental Panel on Climate Change (IPCC), expects emissions to peak in 2040 and CO² concentra�ons to stabilize by the end of the century.

RCP 4.5, o�en paired with SSP2 (Middle of the Road), represents a plausible, intermediate outcome given current climate policies - that is compa�ble with a global average temperature rise in the (highly likely) range from 1.6 to 2.5°C by 2041-2060. By the end of the century, the increase would range from 2.1 to 3.5°C, with a best es�mate of 2.7°C (IPCC AR6). All RCP scenarios an�cipate reaching +1.5°C between 2021 and 2040. The RCP 4.5 scenario aligns with the upper limit of the combined commitments under the Paris Agreement.

To simulate the effects of industrial sector development based on the Group's historical values and manufacturing sector averages, energy demand is assumed to grow at a compound annual rate (CAGR) of 1.5% in all scenarios, reflec�ng expansion of the business and technological consump�on.

The emission reduc�on targets are based on certain key drivers (increased purchasing of cer�fied green electricity and installa�on of photovoltaic systems) and the ancillary contribu�on of other projects, such as the gradual replacement of produc�on machinery and plants, energy efficiency enhancements, and electric mobility ini�a�ves.

Considering the companies included in the decarboniza�on strategy published in 2023, the ini�al benchmark value is 90,286 tCO2eq that, as a consequence of the decarboniza�on drivers, will decline to 54,378 tCO2eq by 2030. The expected contribu�on of each driver is indicated below:

• Procurement of cer�fied green electricity (reduc�on of 26,225 tCO2eq)
• Installa�on of new photovoltaic systems (reduc�on of 9,683 tCO2eq)

The effects of the steady, rou�ne replacement of plant and machinery, as well as the subs�tu�on of specific products and processes, have not been quan�fied separately. With regard to the emission reduc�on objec�ves, there are currently no plans to adopt new technologies that could diverge significantly from standard industrial prac�ces. Although the Scope 1 and Scope 2 emission targets have not been disclosed separately, the stated decarboniza�on drivers will impact on the Group's Scope 2 emissions, while the possible effects of ac�ons taken with regard to Scope 1 emissions cannot be unquan�fiable.

The Group consistently monitors the results achieved against the GHG emission reduc�on targets and, at least annually, top management and the board commitees are updated on the overall efficacy of the ac�ons taken to achieve those targets. The Board of Directors receives precise periodic updates (at

least annually) on the ac�ons completed during the year, and those not yet completed, to reach the stated targets.

The emission reduc�ons obtained in 2025 exceeded the established targets, consolida�ng the trajectory towards achievement of the long-term goals set in the decarboniza�on strategy.

External stakeholders were not involved in the process of defining these targets. In fact, contribu�ons from management and investors were priori�zed when se�ng the quan�ta�ve targets.

E1-5 - Energy consump�on and mix

The following table below details the Group's energy consump�on with a breakdown by source:

Energy consumption and mix	UoM	2025	2024
1) Fuel consumption from coal and coal products	MWh	-	-
2) Fuel consumption from crude oil and petroleum products	MWh	23,540	24,027
3) Fuel consumption from natural gas	MWh	50,258	49,442
4) Fuel consumption from other non-renewable sources	MWh	-	-
5) Consumption of electricity, heat, steam, and cooling from fossil sources	MWh	49,453	72,534
6) Total energy consumption from fossil sources	MWh	123,252	146,004
7) Consumption from nuclear sources	MWh	8,226	9,609
8) Fuel consumption for renewable sources, including biomass	MWh	-	-
9) Consumption of electricity, heat, steam, and cooling from renewable sources	MWh	88,310	55,436
10) Consumption of self-produced renewable energy without fuel use	MWh	10,673	7,258
11) Total energy consumption from renewable sources	MWh	98,983	62,694
Total energy consumption	MWh	230,460	218,307
% incidence on total energy consumption
Fossil sources	%	53.5%	66.9%
Nuclear sources	%	3.6%	4.4%
Renewable sources	%	42.9%	28.7%
Total	%	100.0%	100.0%

The principal methodologies and assump�ons used to calculate the numbers in the table are presented below:

• fossil fuel consump�on was converted into MWh based on the coefficients published for 2025 by the UK Department for Environment, Food and Rural Affairs (DEFRA) 19;
• electricity withdrawals from the grid were appor�oned by source (nuclear, fossil, and renewable) based on the na�onal average values published by the Associa�on of Issuing Bodies (AIB) for the European countries in which the Group operates, and by the Interna�onal Energy Agency (IEA) for the remaining countries.

Based on the NACE codes of the European Group companies and the conversion of non-European companies codes into NACE codes, all opera�onal ac�vi�es are deemed atributable to high climate impact sectors. Consequently, the net revenues from ac�vi�es in high climate impact sectors are the same as the revenues presented in the financial report.

Similarly, the energy intensity of the high climate impact sectors is the same as the overall Group energy intensity. This value was calculated as the ra�o of total energy consump�on (in MWh) to consolidated net revenues (€ 2,071 million). The 2025 value is 0.000111 MWh/EUR.

Energy intensity	UoM	2025	2024	% 2025 / 2024
Total energy consumption	MWh	230,460	218,307	+5.6%
Revenues	M EUR	2,071	2,078	-0.4%
Energy intensity	MWh/EUR	0.000111	0.000105	+6.0%

¹⁹ See the website: htps://www.gov.uk/government/publica�ons/greenhouse-gas-repor�ng-conversion-factors-2024

E1-6 - Gross Scopes 1, 2, 3 and Total GHG emissions

The greenhouse gas (GHG) emissions of the Interpump Group in 2025 amounted to:

• 2,245,755 tCO2eq (loca�on-based calcula�on);
• 2,230,631 tCO2eq (market-based calcula�on).

These values are broken down into their three components as follows:

Total Scopes 1, 2, and 3 GHG emissions	Baseline year -	2025	2024	% 2025 / 2024	Target year -
Scope 1 GHG emissions	2022				2030
Gross Scope 1 GHG emissions (tCO2eq)	17,407	16,502	16,639	-1%	-
Percentage of Scope 1 GHG emissions covered by regulated emission trading systems (%)	0%	0%	0%	-	-
Scope 2 GHG emissions
Gross Scope 2 GHG emissions, location based (tCO2eq)	60,908	56,358	48,703	+16%	-
Gross Scope 2 GHG emissions, market based (tCO2eq)	72,879	41,235	53,199	-23%	-
Scope 3 GHG emissions
Gross Scope 3 GHG emissions (tCO2eq)		2,173,067	2,660,276	-18%	-
1. Purchased goods and services	-	407,113	496,787	-18%	-
2. Capital assets	-	27,178	41,104	-34%	-
3. Fuel- and energy-related activities	-	18,397	18,042	+2%	-
4. Upstream transportation and distribution	-	61,896	50,616	+22%	-
5. Waste generated in operations	-	3,780	4,087	-8%	-
9. Downstream transportation	-	23,787	33,732	-29%	-
11. Use of sold products	-	1,630,917	2,015,909	-19%	-
Total GHG emissions
Total GHG emissions, location based (tCO2eq)	-	2,245,927	2,725,619	-18%	-
Total GHG emissions, market based (tCO2eq)	-	2,230,804	2,730,115	-18%	-

In 2025, the Group's Scope 1 emissions were substan�ally in line with those recorded in 2024. Turning instead to the loca�on-based Scope 2 emissions, the increase was essen�ally due to the rise in electricity consumed (60%) and to the increase in emission factors in Italy and India (40%). Conversely the decline in market-based emissions was due to the purchases of cer�fied green electricity. Lastly, the change in Scope 3 emissions since 2024 was mainly atributable to the reduc�on in Category 1 and Category 11 emissions, which represent about 95% of all Scope 3 emissions. For Category 1, the decline was due to an improvement in data collec�on at a detailed level, which allowed emission factors to be associated more precisely with the respec�ve categories of purchased raw materials. With regard to

Category 11, certain technical benchmark parameters (average power, useful life and hours in service) were updated, contribu�ng - together with an average reduc�on in the emission coefficients - to a 19% fall in Scope 3 emissions.

The principal methodologies and assump�ons used to calculate CO2-equivalent emissions are discussed below. Precise values were used where available, otherwise conserva�ve es�mates were made by choosing environmental performance assump�ons that were less favorable for the Company. For instance, suppliers may not have given some companies their consump�on data for the final months of the year in �me for this report. In such cases, es�mates were made based on historical consump�on trends or budget figures.

Scope 1 emissions

This category comprises all emissions atributable to direct consump�on by the Interpump Group, which primarily involves the use of fuels for hea�ng and vehicle propulsion, as well as the usage of refrigerant gases.

Conversion parameters between the different units of measure and emission factors published for 2025 by DEFRA were used for calcula�on purposes. The Group does not par�cipate in any emission trading systems. Overall, emissions atributable to the direct opera�ons of Interpump contribute to increasing atmospheric GHG levels and the related phenomena.

Scope 2 emissions

This category includes all emissions indirectly generated by the Group when purchasing energy from suppliers, predominantly in the form of electricity.

The calcula�on of Scope 2 emissions using the:

• loca�on-based method employs coefficients published by the European Environment Agency (EEA) 20 and the US Environment Protec�on Agency (EPA) 21. Should these values be unavailable or lower than the corresponding domes�c values, reference is made to the coefficients reported in the Terna Interna�onal Comparisons 202422. The factors used were selected in a pruden�al manner, adop�ng the highest among those indicated by the EEA, the EPA, and Terna Interna�onal Comparisons 2024. These coefficients were applied to electricity drawn from the grid in 2025;
• market-based method employs reference parameters published by the Associa�on of Issuing Bodies (AIB) for 202423 for European countries, by the US Environment Protec�on Agency (EPA) for the United States, by Green-E for Canada and, where absent, the loca�on-based scenario values. The calcula�on involved applying the emission coefficients to the electricity drawn from the grid, net of the cer�fied green electricity purchased.

The Scope 2 emissions derive from the Group's electricity procurement strategy, but are also influenced by the actual energy offer available in the countries where plants are located. Overall, these emissions also contribute to increasing atmospheric GHG levels and the related phenomena.

²¹ www.epa.gov/egrid/summary-data

²⁰ htps://www.eea.europa.eu/en/analysis/indicators/greenhouse-gas-emission-intensity-of-1

²² Sta�s�cal data 2024 - Interna�onal Comparisons

²³ European Residual Mixes 2024

The Group's Scope 1 and Scope 2 emissions also include 100% of the impact atributable to companies consolidated using the equity method. None of the emission metrics have been validated by an external en�ty, other than the party that issued the atesta�on of conformity.

Scope 3 emissions

The following GHG Protocol categories were considered in rela�on to this emission group, dis�nguishing between the upstream and downstream value chains:

Upstream

• Cat 1 Purchased goods and services
• Cat 2 Capital goods
• Cat 3 Fuel- and energy-related ac�vi�es
• Cat 4 Upstream transporta�on and distribu�on
• Cat 5 Waste generated in opera�ons

Downstream

• Cat 9 Downstream transporta�on
• Cat 11 Use of sold products

The Interpump Group has reported Scope 3 emissions publicly since the 2024 financial year.

Among the principal es�mates used:

• Cat 1: the average method was applied for raw materials, with alternate calcula�ons based on purchase weights using market values (EUR/tonne);
• Cat 4 and 9: distances traveled, with emission alloca�on based on transport intermodality;
• Cat 11: product lifespan and consump�on profile.

The spend-based method was used for Category 1 - goods other than raw materials and services - and for Category 2. The reference emission factors were those published by Eurostat, databases supplied by specialist providers, DEFRA, and Terna Interna�onal Comparisons 2024.

To facilitate the standardiza�on of data collec�on processes over �me, the Scope 3 repor�ng perimeters differs from the financial consolida�on perimeter. In par�cular, the principal 22 (mostly produc�on) companies were selected, accoun�ng for about 65% of consolidated sales to third par�es and 80% of the Group's Scope 1 and Scope 2 emissions. The Scope 3 numbers reported relate solely and exclusively to this ini�al sample.

The percentage of emissions calculated with reference to primary data obtained from suppliers or other value chain partners was 0%.

The following categories were excluded from the repor�ng perimeter:

Upstream

• Cat 6 Business travel
• Cat 7 Employee commu�ng
• Cat 8 Upstream leased assets

Downstream

• Cat 10 Processing of sold products
• Cat 12 End-of-life treatment of sold products

• Cat 13 Downstream leased assets
• Cat 14 Franchises
• Cat 15 Investments

These categories were excluded from the inventory following a qualita�ve assessment process that considered the Group's structure and industrial sector. In some instances, these categories are not applicable (e.g., franchises and investments), while in others, they are deemed minimally or marginally impac�ul (e.g., employee commu�ng or business travel) in comparison with the categories reported in this document.

The GHG emission intensity rela�ve to consolidated net revenues is presented below:

GHG intensity relative to net revenues	2025	2024	% 2025 / 2024
Total GHG emissions (location-based) relative to net revenues (tCO2eq/EUR)	0.001085	0.001311	-17%
Total GHG emissions (market-based) relative to net revenues (tCO2eq/EUR)	0.001077	0.001314	-18%

Emission intensity was calculated using consolidated net revenues (€ 2,071 million), without adding the third-party revenues of companies consolidated using the equity method. Accordingly, this value agrees with that indicated in the sec�on en�tled "Revenues" in the "Consolidated Income Statement" chapter.

The emissions were calculated using emission factors obtained from a recognized interna�onal data provider, Eurostat 24, DEFRA 202125, DEFRA 202526, and Terna Interna�onal Comparisons 202427. In detail, the Group used the following methods and emission factors for each category:

Upstream

• Cat 1 Purchased goods and services: spend-based, with Eurostat emission factors for goods and services; average-based, with emission factors obtained from a recognized interna�onal data provider
• Cat 2 Capital goods: spend-based, with Eurostat emission factors
• Cat 3 Fuel- and energy-related ac�vi�es: average data, with DEFRA 2025 WTT Fuels, DEFRA 2021 WTT – UK & overseas electricity, and DEFRA 2025 – Transmission and distribu�on emission factors
• Cat 4 Upstream transporta�on: distance-based, with DEFRA 2025 freigh�ng goods emission factors
• Cat 5 Waste generated in opera�ons: waste-type-specific, with DEFRA 2025 waste disposal emission factors

Downstream

• Cat 9 - Downstream transporta�on: distance-based, with DEFRA 2025 - freigh�ng goods emission factors

• ²⁵ Greenhouse gas repor�ng: conversion factors 2021 - GOV.UK
• ²⁶ Greenhouse gas repor�ng: conversion factors 2025 - GOV.UK

²⁴ Methodology - Environment - Eurostat

²⁷ Sta�s�cal data 2024 - Interna�onal Comparisons

• Cat 11 - Use of sold products: custom method, as required by the GHG standard, applied only to products directly consuming energy during use, with Terna Interna�onal Comparisons 2024 and DEFRA 2025 - Fuels - Liquid Fuel emission factors

Given the nature of the Group's ac�vi�es, no biogenic CO² emissions from biomass combus�on or biodegrada�on are present.

E1-7 - GHG removals and emission mi�ga�on projects funded through carbon credits

The Interpump Group has neither ini�ated projects for GHG removal or storage within its direct opera�ons, nor collaborated on similar ini�a�ves within its value chain.

E1-8 - Internal carbon pricing

The Interpump Group did not employ internal carbon pricing systems as part of its climate-related strategy in 2025.

E1-9 - An�cipated financial effects from material physical and transi�on risks and poten�al climate-related opportuni�es

This datapoint has not been reported, as allowed by the phase-in provisions.

ESRS E2 - POLLUTION

Management of Impacts, Risks, and Opportuni�es

ESRS 2 IRO-1 - Descrip�on of the processes to iden�fy and assess material pollu�on-related impacts, risks, and opportuni�es

Consistent with the iden�fica�on and assessment processes described for ESRS 2 IRO-1, the Group has analyzed the pollu�on IROs. The process comprised an examina�on of the opera�ng context and the priori�za�on of specific IROs for ESRS E2, ensuring methodological uniformity at Group level.

Following a broader mapping of the sources of pollu�on at Group level, it was found that the core business, focused on mechanical and assembly, generates limited emission impacts. With regard to those industrial processes with greater emissions poten�al, specifically galvanic and heat treatments, the Group applies a rigorous management and control system that includes dedicated technical controls and specific environmental monitoring. These ac�ons are designed to minimize and prevent emissions into the air, the waters and the soil, ensuring constant, full compliance with the current regulatory limits.

Concerning the REACH Regula�on (EC 1907/2006), in 2025 the Group completed a mapping of processes throughout the supply chain, iden�fying only marginal recourse to the direct importa�on of substances subject to registra�on; in these limited cases, full compliance with the required no�fica�on and registra�on obliga�ons is guaranteed.

With regard to manufactured or imported item, the analysis of conformity iden�fied lead as the principal Substance of Very High Concern (SVHC), present in concentra�ons higher than 0.1% p/p. This usage, typical of the engineering sector, is closely correlated with the use of specific metal alloys, for which lead is an essen�al addi�ve to guarantee the tolerances and workability needed by the manufacturing processes. Consistent with the transparent approach required by ESRS E2, the Group constantly monitors regulatory changes and the alternate techniques available for the progressive replacement of such substances.

In this regard, studies and tests commenced during 2025 for the progressive adop�on of lead-free alloys by various Group companies, ahead of possible future European regulatory restric�ons. Among these companies, IMM Hydraulics S.p.A. has already started the progressive adop�on of lead-free materials in its products.

With reference to the perimeter of direct opera�ons by the Group and the repor�ng required by ESRS E2, there are no business processes that generate pollu�ng emissions which might have a material nega�ve impact on the atmosphere, the soil or the waters.

The Group's value chain does however include suppliers that may have a greater environmental impact. In this regard and consistent with the phase-in provisions, appropriate analyses are being developed to report the related impacts, risks, and opportuni�es (IROs).

As already indicated in the sec�on en�tled "SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model", included in the chapter on General Disclosures (ESRS 2), the double materiality analysis carried out by the Interpump Group iden�fied three material sustainability impacts linked to pollu�on: water pollu�on, air pollu�on and soil pollu�on. All these impacts occur upstream in the Group's value chain. No material risks or opportuni�es linked to

pollu�on were iden�fied, neither in rela�on to dependencies nor to the ac�ons envisaged in the 2023- 2025 ESG Plan.

These results have been further bolstered by early consulta�ons with stakeholders, who confirm the percep�on that the environmental impacts are concentrated upstream and, in any case, are managed in full compliance with the regulatory and sustainability standards.

E2-1 - Policies related to pollu�on

The Interpump Group is commited to safeguarding and con�nuously improving environmental protec�on, since these aspects are seen as essen�al for sustainable development and value crea�on. This commitment and the policies adopted to manage material pollu�on-related impacts are reflected in the Code of Ethics and the HSE Policy (described more fully in chapter S1). Given the characteris�cs of the Interpump Group, these policies represent high-level direc�ves on environmental protec�on and primarily focus on the direct opera�ons of the Group, without specifically addressing the related impacts, risks, and opportuni�es within the upstream value chain. Consequently, this aspect does not sa�sfy fully the requirements indicated in the MDR-P sec�on of the ESRS.

A plan is currently being implemented to align Group policies with the disclosure requirements of ESRS 2 (General disclosures) and ESRS E2. The update seeks to formalize the commitments made by the Group with regard to the preven�on and management of pollu�on, bridging any gaps in disclosures and consolida�ng a sustainability management system that complies in full with the ESRS.

E2-2 - Ac�ons and resources related to pollu�on

The Interpump Group has not currently adopted ac�ons to manage pollu�on-related impacts within the upstream value chain that can be deemed to comply with ESRS requirements. Given that the double materiality analysis highlighted the materiality of this topic in rela�on to the upstream supply chain, a broader analysis is necessary to define ac�ons that precisely address each requirement indicated in the MDR-A sec�on of the CSRD. In the future, the Group will consider defining or upda�ng ac�ons that include all the elements required by the standards.

Metrics and targets

E2-3 - Targets related to pollu�on

The Interpump Group has not iden�fied targets for managing pollu�on-related impacts, risks, and opportuni�es that can be considered aligned with the ESRS. The considera�ons expressed in the sec�on on ac�ons also apply to the targets to be reached and reported in accordance with the requirements indicated in the MDR-T sec�on of the CSRD. In future, the Group will consider defining targets in this area.

ESRS E3 - WATER AND MARINE RESOURCES

Management of Impacts, Risks, and Opportuni�es

ESRS 2 IRO-1 - Descrip�on of the processes to iden�fy and assess material impacts, risks, and opportuni�es related to water and marine resources

As highlighted earlier, the Group is ac�ve in two macro-sectors: Water Je�ng and Hydraulics. Although water resources are used in all produc�on processes, they are a cri�cally important characteris�c of the Water-Je�ng BU, comprising indeed its opera�onal core.

Consequently, analysis placed greater emphasis on those Group companies that produce and sell plunger pumps with power ra�ngs from 1 to 2,000 HP (0.7 to 1,500 kW) and related components since, in these cases, both the quality tes�ng and subsequent usage phases make especially heavy use of water.

The methodology used to iden�fy the impacts, risks, and opportuni�es took into account the aspects described in the sec�on en�tled "IRO-1: Description of the process to identify and assess material impacts, risks, and opportunities", included in the chapter on General Disclosures (ESRS 2). This methodology was also applied to the analyses of water-related maters, which involved understanding the opera�onal context, iden�fying their impacts, risks, and opportuni�es, and then assessing and priori�zing them.

As indicated in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportunities and their interaction with strategy and business model", the double materiality analysis carried out by the Interpump Group iden�fied four current, material sustainability impacts, associated with two subtopics: water consump�on and water withdrawals. The impacts relate to water usage and were iden�fied in two phases of the value chain: upstream and direct opera�ons, linked to the Group's produc�on ac�vi�es.

No material water-related risks or opportuni�es were iden�fied, neither in rela�on to dependencies nor to the ac�ons envisaged in the 2023-2025 ESG Plan.

The following provides specific detail, highligh�ng how the Interpump Group has:

• considered all water consump�on, both for industrial and civilian use, accurately quan�fying its withdrawals. Aten�on focused on industrial discharges, on the assump�on that civilian discharges have no significant impact in the circumstances;
• qualita�vely explored certain impacts within the supply chain, par�cularly with regard to foundries and steelworks. In general, given the limited volume of informa�on and data available, the adop�on of conserva�ve assump�ons has resulted in this topic being classified as material;
• qualita�vely assessed water consump�on linked to its products sold on the market, par�cularly those in the high- and very-high-pressure pump sector. In this case too, it is reasonable to assume that the consumed water contains no pollutants beyond those withdrawn and that consump�on occurs near the withdrawal point.

The methodology used to iden�fy the impacts, risks, and opportuni�es took into account the aspects described in the sec�on en�tled "IRO-1: Descrip�on of the process to iden�fy and assess material impacts, risks, and opportuni�es", included in the chapter on General Disclosures (ESRS 2). This methodology was also applied to the analyses of water-related maters, which involved understanding

the opera�onal context, iden�fying their impacts, risks, and opportuni�es, and then assessing and priori�zing them.

For the materiality analysis of water resources, the Group has adopted Aqueduct, the tool of the World Resources Ins�tute (WRI) for mapping, measuring and managing water risks on a global scale.

No specific consulta�ons regarding the use of water resources in the context of the Group's direct opera�ons have been held with stakeholder groups, with efforts instead focused on areas deemed more significant in terms of the scale and breadth of the impacts generated.

E3-1 - Policies related to water and marine resources

The Interpump Group has adopted a policy for managing water-related impacts. This policy is reflected in the HSE Policy (described more fully in chapter S1). This policy establishes high-level environmental protec�on direc�ves for all Group companies and the value chain, but does not specify in detail how the Group manages the impacts, risks, and opportuni�es linked to water resources, as required by the ESRS.

A plan is currently being implemented to align Group policies with the disclosure requirements of ESRS 2 (General disclosures) and ESRS E3. The update seeks to formalize the commitments made by the Group with regard to the preven�on and management of water resources, bridging any gaps in disclosures and consolida�ng a sustainability management system that complies in full with the ESRS.

In order to prevent, reduce and mi�gate the possible consequences of its ac�vi�es on the environment, the Interpump Group has adopted Guidelines on environmental protec�on, included in its Global Compliance Program, that have been disseminated to all subsidiaries. These Guidelines establish the ac�ons that companies must implement, without excep�on, in order to:

• avoid discharging water without authoriza�on from the local authori�es,
• comply with limits set by local regula�ons,
• prevent accidental spills of pollutants and, if they occur, promptly report them to the local authori�es and the Group Compliance Func�on,
• take appropriate ac�on to restore the surrounding environment and prevent further occurrences in future,
• take random samples to detect, measure and monitor any concentra�ons of pollutants that exceed the local regulatory limits.

Among the various business processes, water is primarily used:

• to test pumps, hoses and pipes before they are sold,
• to produce steam,
• in the washing and lubrica�on cycles of machining centers,
• for industrial cooling.

The water used at Group plants is mainly withdrawn from the public supply (about 65%), but some�mes from owned wells or concessions (about 35%).

Given the way that water is used at Group plants, pre-treatment prior to discharge is not required in most instances. However, when water resources are used in galvanizing, pain�ng, and other less significant (in volume terms) industrial processes, the wastewater is o�en managed as special waste and thus not discharged into the sewers.

Certain discharges from industrial processes may be contaminated with pollutants. The Group monitors them constantly, in collabora�on with the competent authori�es, when they are released into the sewers or other surface waters.

Given the increasing aten�on paid by various stakeholders, the Interpump Group adopted new Product Ecodesign Guidelines in 2024 as part of work to implement the current ESG Plan. The objec�ve is to promote a reduc�on in environmental impact through the progressive adop�on of innova�ve and sustainable solu�ons. In a context that places growing emphasis on greater efficiency and sustainability, the Group's R&D departments strive not only to create products with longer useful lives, but also to op�mize their consump�on of resources. Specifically, with regard to the efficient management of water resources, the Group's goal is to:

• design products capable of op�mizing water consump�on by end-users,
• recover water from the Group's produc�on processes for reuse in the produc�on cycle, without the need for substan�al new withdrawals.

Among the countries in which Interpump operates, 20 are classified by Aqueduct as subject to medium/low levels of water stress (category <=2), while 14 (including Italy) are classified as areas of high water stress.

Regarding the classifica�on of countries at water risk, 25 (including Italy) face medium-low risk condi�ons (category <=2), while the remaining 9 are grouped in high water risk classes.

Currently, the Interpump Group has not established quan�ta�ve commitments for the reduc�on of water consump�on in the water-risk areas in which it operates, neither for its direct opera�ons nor for those within its value chain. Plants in countries considered to have high water stress are not currently covered by policies compliant with the requirements of ESRS 2 MDR-P.

The Interpump Group has not adopted policies related to the sustainability of the oceans and seas, as these aspects are not especially relevant to the business model adopted.

In addi�on to applying the instruc�ons contained in the Global Compliance Program, some of the larger Group companies have implemented management models and systems that structure and monitor their quality and environmental performance, with a view to constant improvement. Furthermore, most of them have obtained UNI EN ISO 14001 - Environmental management systems and UNI EN ISO 9001 - Quality management systems cer�fica�ons. For further informa�on, see the sec�on en�tled "BP-2: Disclosures in rela�on to specific circumstances" in the chapter en�tled "ESRS 2 – General Disclosures".

E3-2 - Ac�ons and resources related to water and marine resources

The Interpump Group has not currently adopted ac�ons to manage impacts, risks, and opportuni�es related to water that can be deemed to comply with ESRS requirements. The 2023-2025 ESG Plan envisages ac�ons that cannot be regarded as aligned with the Standard's requirements, since they are not associated with specific quan�ta�ve targets to be reached within a specified �me horizon. In future, based on the policies iden�fied, the Group will consider defining or upda�ng ac�ons that include all the elements required by the standards.

Nevertheless, with regard to the conserva�on of water resources, the Interpump Group is commited to implemen�ng the following best prac�ces:

• con�nuous monitoring of water withdrawals and discharges at produc�on plants,
• promo�on of new products and solu�ons to reduce water consump�on while maintaining performance,
• analysis and assessment of water management within the supply chain,
• implementa�on of systems for the recovery and reuse of water when tes�ng pump quality.

Again in the context of the Group's ESG Plan, the Italian Group companies have commenced the ini�al collec�on and assessment of data from their principal suppliers, partly based on certain environmental parameters. These include aspects linked to the monitoring of water consump�on by suppliers, the quality of discharges, and any measures in place to ensure the proper management of water resources.

Metrics and targets

E3-3 - Targets related to water and marine resources

The Interpump Group's ESG Plan iden�fies targets for managing the impacts, risks, and opportuni�es associated with water resource use; however, these cannot be considered aligned with the ESRS, since they do not address with precision each requirement in the MDR-T sec�on of the CSRD (e.g. the quan�fica�on of measurable water withdrawal targets). In future, the Group will consider defining targets in this area.

Given the above, consistent with the 2023-2025 ESG Plan and in order to promote the aware and responsible management of water resources, the Interpump Group has implemented a system for the con�nuous monitoring of its civil and industrial withdrawals, and industrial discharges, thus guaranteeing full regulatory compliance and the precise repor�ng of flows.

This project was completed in two main phases:

• Phase 1: verifica�on of monitoring prac�ces, reference regula�ons, and available technologies, not least to assess and adjust the measurement criteria used, ensuring the applica�on of consistent criteria for the differen�a�on of civilian and industrial discharges;
• Phase 2: implementa�on of a system to monitor and report con�nuously on water withdrawals and discharges by Group plants.

Following this mapping, several Group companies have made further commitments to the careful management of water resources. As an example, when renewing its R&D sec�on, Interpump Group S.p.A. installed meters with a view to reducing water consump�on and improving the related controls. A considerable amount of water is consumed, especially in the R&D area, in order to test prototype valves, pumps, wands and homogenizers.

Water is needed constantly, 24/7, for tes�ng purposes and is so�ened, treated and cooled before being used in the various test cycles. Metering systems not only monitor precisely the volumes used, but also restrict its use, thereby contribu�ng to the more sustainable management of resources. On an ongoing basis, more than 100,000 cubic meters of water should be recycled, confirming the efforts made to enhance efficiency and environmental responsibility.

The Group has not iden�fied targets for managing the impacts, risks, and opportuni�es related to marine resources, since the materiality analysis found that this aspect was not significant.

Similarly, the Interpump Group has not defined quan�ta�ve targets for the reduc�on of water consump�on in low- and high-risk areas, including those subject to elevated water stress. In this context, no known legal requirements specifically target this area, since the corresponding policies and ac�ons have not yet been defined.

The following table indicates the water consumed by the Interpump Group in 2025, calculated as the net effect of water withdrawals, discharges, recycling, and storage. Since 2024 is the first repor�ng year, the change in water storage levels was not calculated.

Water consumption	UoM	2025	2024
Total water consumption	m³	2,257	1,676
of which in water risk areas	m³	1,415	-
of which in high water stress areas	m³	2,257	1,674

Water stress in the various countries in which the Group operates was es�mated using the Aqueduct database, using the related capital ci�es as reference points rather than the actual corporate loca�ons.

Within the Aqueduct database, an area might be considered at low water risk overall (due to such mi�ga�ng factors as sound governance and the stability of rainfall), despite finding itself in a high water stress situa�on due to physical scarcity of the resource.

The Group's plants in Italy are in this posi�on, being subject to high water stress (physically not enough water compared with consump�on in the area), but with low overall risk as a result of advanced water governance (management of reservoirs and canal networks).

Water consumption details	UoM	2025	2024
Recycled and reused	m³	17,228	6,836
Stored	m³	3,933	1,676
Change in stored water	m³	2,257	-

Consistent with GRI instruc�ons, only industrial discharges were reported in previous years, while civilian discharges were not quan�fied. Star�ng in 2024, barring the effects of storage, it is assumed that all withdrawn water is subsequently discharged; accordingly, applying mathema�cs, water consump�on is equal to the annual change in water stored. Process water managed as waste, evapora�on, and system losses are not factored into this calcula�on.

Given the monitoring of water withdrawals envisaged in the 2023-2025 ESG Plan and the loca�on of most plants in high water stress areas (above all, Italy and India), a number of projects have been launched to increase the Group's water storage capacity. As shown in the above table, the increase in water stored in reflected in an increase in water consump�on during 2025.

Based on the data collected, the Group's 2025 water consump�on intensity was as follows:

Water consumption intensity	UoM	2025	2024
Utilities	m³	2,257	1,676
Revenues	M EUR	2,071	2,078
Water intensity	m³/M EUR	1.09	0.81

The Group's water withdrawals are analyzed by source below:

Water withdrawal details	UoM	2025	2024
Public supply (mains)	m³	267,805	320,299
Owned wells/concessions	m³	134,419	109,683
Other sources	m³	11,250	6,180
Surface waters	m³	-	-
Total	m³	413,474	436,162

The Group's industrial discharges are analyzed by des�na�on below:

Industrial water discharges	UoM	2025	2024
Sewer system	m³	186,630	226,275
Surface waters	m³	12,247	22,064
Other	m³	15,419	10,908
Total	m³	214,296	259,247

The metrics presented in this chapter have not been validated by an external en�ty, other than the party that issued the atesta�on of conformity.

ESRS E5 - RESOURCE USE AND CIRCULAR ECONOMY

Management of Impacts, Risks, and Opportuni�es

ESRS 2 IRO-1 - Descrip�on of the processes to iden�fy and assess material impacts, risks, and opportuni�es related to resource use and circular economy

The methodology used to iden�fy the impacts, risks, and opportuni�es took into account the aspects described in the sec�on en�tled "IRO-1: Descrip�on of the process to iden�fy and assess material impacts, risks, and opportuni�es", included in the chapter on General Disclosures (ESRS 2). This methodology was also applied to the analyses carried out regarding waste and the incoming and outgoing flows of resources, which involved understanding the opera�onal context, iden�fying their impacts, risks, and opportuni�es, and then assessing and priori�zing them.

As indicated in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportuni�es and their interac�on with strategy and business model", the double materiality analysis carried out by the Interpump Group iden�fied three current, material sustainability impacts linked to the use of resources and to the circular economy, associated with two sub-topics: waste and the flows of resources, including their use. Two impacts are linked to the direct opera�ons of the Group, while the third is associated with the downstream value chain (customers).

On the other hand, no material sustainability risks and opportuni�es related to efficient resource use and circular economy were iden�fied. This absence of material risks and opportuni�es is inherent in the double materiality analysis, which excluded cri�cal impacts and significant financial risks for the Group's business model. Despite not exceeding the current financial materiality threshold, close monitoring con�nues in order to iden�fy any changes in the opera�ng and regulatory environments.

No specific consulta�ons regarding resource use and circular economy in the context of the Group's direct opera�ons have been held with stakeholder groups, with efforts instead focused on areas deemed more significant in terms of the scale and breadth of the impacts generated.

E5-1 - Policies related to resource use and circular economy

The Interpump Group has adopted a policy for managing impacts associated with resource use and circular economy. This policy is reflected in the HSE Policy (described more fully in chapter S1). This policy establishes high-level environmental protec�on direc�ves for all Group companies and the value chain, but does not specify in detail how the Group manages the impacts, risks, and opportuni�es linked to resource use and circular economy, as required by the ESRS.

A plan is currently being implemented to align Group policies with the disclosure requirements of ESRS 2 (General disclosures) and ESRS E5. The update seeks to formalize the commitments made by the Group with regard to the management of resources from a circular economy standpoint, bridging any gaps in disclosures and consolida�ng a sustainability management system that complies in full with the ESRS.

That said, Eco-design Guidelines for Interpump Group products were defined in 2024, with the following principal objec�ves:

• promote sustainability through the effec�ve use of resources and by extending the lifespan of products,
• support the development of a circular economy based on the incoming/outgoing flows at each plant.

In this way, the Group seeks - at least for its direct opera�ons and, where feasible, downstream within the value chain - to limit waste genera�on and focus more on the use of resources within the various produc�on processes. Achieving these ambi�ous objec�ves necessarily requires cross-func�onal collabora�on, which depends on:

• ac�ve engagement of employees, industrial partners, suppliers, and customers;
• integra�on of eco-design in all product development phases (from R&D and procurement to marke�ng and sales).

Accordingly, these guidelines aim to formalize the Group's commitment to reducing environmental impacts. These effects are typical in the manufacturing sector, which transforms raw materials into components and equipment; however, the ongoing commitment to modernize produc�on processes and the applica�ons available to customers plays a central role in the reduc�on of environmental impacts throughout the en�re value chain.

E5-2 - Ac�ons and resources related to resource use and circular economy

The Interpump Group has not currently adopted ac�ons to manage impacts, risks, and opportuni�es related to resource use and circular economy that can be deemed to comply with ESRS requirements. The 2023-2025 ESG Plan envisages ac�ons that cannot be regarded as aligned with the Standard's requirements, since they are not associated with specific quan�ta�ve targets to be reached within a specified �me horizon. In the future, the Group will consider defining or upda�ng ac�ons, based on the policies defined for this area, that include all the elements required by the standards.

That said, the 2023-2025 ESG Plan of the Interpump Group has made it possible to explore topic related to the circular economy from two interconnected standpoints:

• (i) the recovery of produc�on scrap in collabora�on with the suppliers of raw materials and semifinished products;
• (ii) the design of products and solu�ons that enhance the recovery of materials from EOL products.

In this regard, the Group has completed the pilot project that has qualified certain metallic residues from mechanical processing as by-products (pursuant to art. 184-(2) of Decree 152/2006). This objec�ve of the 2023-2025 ESG Plan facilitates the explora�on of circular processes and their effects, and strengthens the Group's rela�ons with selected suppliers in Italy.

Also in this context, Interpump plans to extend the analysis by considering whether new types of waste can be qualified as by-products, thus extending the pilot project completed by Reggiana Ridutori S.r.l. to other Group companies.

Although not formally part of the 2023-2025 ESG Plan, efforts are underway to explore produc�on solu�ons that reduce the environmental impact of certain Group components; in par�cular, companies in the I.M.M. Hydraulics Group are developing:

• lead-free fi�ngs,
• hydraulic hose covers with compounds formulated to op�mize the recycling of rubber materials.

Metrics and targets

E5-3 - Targets related to resource use and circular economy

The Interpump Group's ESG Plan iden�fies targets for managing the impacts, risks, and opportuni�es associated with resource use and circular economy; however, these cannot be considered aligned with the ESRS, since they do not address with precision each requirement in the MDR-T sec�on of the CSRD (e.g. the quan�fica�on of measurable waste reduc�on targets). In future, the Group will consider defining targets in this area.

The metrics presented in this chapter have not been validated by an external en�ty, other than the party that issued the atesta�on of conformity.

E5-4 - Resource inflows

Given the heterogeneous nature of the companies and economic sectors concerned, the Group's supply chain primarily comprises the supply of:

• raw materials, including metals that combine virgin materials with recycled materials available on the market;
• commercial components, consumables and related ancillary services;
• semi-finished parts;
• consumables and equipment for produc�on and assembly;
• tools.

The Interpump Group iden�fies and classifies as "raw materials" those products that, despite being processed, retain their fundamental characteris�cs. These include, for example, semi-finished or finished products (such as sheets, cas�ngs, tubes, bars, blocks) that primarily consist of a single metal or alloy.

Indica�vely, the following technical materials, consumed directly during the Group's produc�on processes or expressed as an equivalent weight of purchased semi-finished products and primary components, were received in 2025:

Raw material inflows (tonnes)	UoM	2025	2024
RM equivalents received	Tonnes	60,269	55,329
Ferrous metals	Tonnes	53,945	47,694
Non-ferrous metals	Tonnes	4,502	7,314
Plastics	Tonnes	1,822	321

For the purpose of preparing the table on raw material inflows, only the quan��es reported in Scope 3 Category 1 were considered. These values are thus subject to the same reasons for uncertainty as those outlined in the sec�on on emissions within the value chain.

Given the nature of the Group's manufacturing ac�vi�es, no biological materials are u�lized in produc�on processes. Conserva�vely, the propor�on of packaging received from sustainable supply chains is also deemed to be zero.

The weight, in absolute and percentage terms, of reused or recycled secondary components and intermediate secondary products and materials (including packaging), has also been set conserva�vely at zero.

E5-5 - Resource ou�lows

In essence, as with all manufacturing ac�vi�es, Interpump's opera�ons generate two principal macrocategories of ou�lows:

• products;
• scrap from processing.

The principal products output by each sector of the Interpump Group are presented below.

Sector	Principal product outflows
Water-Jetting	• Plunger pumps with power ratings from 1 to 2,000 CV (from 0.7 to 1,500 HP), and related components and accessories, • Special pumps, • Mixers, • Agitators, • Cleaning systems, • Valves and tanks for the food processing, cosmetics and pharmaceutical industries.
Hydraulic	• Power take-offs, • Gear pumps, • Cylinders, • Hydraulic motors, • Oil tanks, • Flexible rubber hoses / metal pipes, and rigid pipes, • Flanges, • Fittings, • Gears, • Orbital motors, • Steering systems, • Hydraulic distributors and related electronic or mechanical control systems.

Since the Ecodesign Guidelines were only distributed to Group companies in 2024, it is s�ll premature to report on the results achieved in terms of designing products and materials in accordance with circularity principles. Nonetheless, the document seeks to encourage designs that reduce the consump�on of materials in produc�on and extend the lifespan of products, including by preven�ve maintenance where feasible.

Waste

The weight of waste leaving Group plants (used as a proxy for waste produced) is analyzed by principal category below, with all other residual substances grouped under "Other". CER codes were used for waste mapping purposes, including for the waste of non-European companies.

Resource outflows - by type of waste	UoM	2025	2024
Non-hazardous waste
12.01.01 - Ferrous metal filings and turnings	Tonnes	13,804	13,626
12.01.02 - Ferrous metal powders and particulates	Tonnes	768	696
12.01.99 - Unspecified waste	Tonnes	1,140	650
15.01.03 - Wooden packaging	Tonnes	1,179	1,174

17.04.05 - Iron and steel	Tonnes	2,023	2,110
20.03.01 - Non-differentiated urban waste	Tonnes	907	830
Other	Tonnes	8,783	3,196
Total - Non-hazardous	Tonnes	28,602	22,283
Hazardous waste
12.01.09* - Emulsions and solutions for machinery	Tonnes	4,182	5,110
16.10.01* - waste water-based solutions containing hazardous substances	Tonnes	1,376	995
12.03.01* - Water-based washing solutions	Tonnes	563	650
13.08.02* - Other emulsions	Tonnes	74	65
15.02.02* - Absorbents, filtering materials	Tonnes	329	288
11.01.09* - Sludges and filtering residues	Tonnes	154	125
Other	Tonnes	986	1,113
Total - Hazardous	Tonnes	7,665	8,346
Total waste	Tonnes	36,267	30,628

The weight of waste to be disposed or recovered is analyzed below, dis�nguishing between hazardous and non-hazardous waste.

Resource outflows - by type of disposal	UoM	2025	2024
1) Hazardous waste	Tonnes	7,665	8,346
Diverted from disposal	Tonnes	732	807
of which prepared for re-use	Tonnes	83	80
of which recycled	Tonnes	92	98
of which other recovery operations	Tonnes	558	630
Disposed	Tonnes	6,933	7,538
of which incinerated (with energy recovery)	Tonnes	57	51
of which incinerated (without energy recovery)	Tonnes	135	135
of which landfilled	Tonnes	380	447
of which other disposal operations	Tonnes	6,361	6,904
2) Non-hazardous waste	Tonnes	28,602	22,283
Diverted from disposal	Tonnes	26,111	20,467
of which prepared for re-use	Tonnes	951	476
of which recycled	Tonnes	14,632	14,776
of which other recovery operations	Tonnes	10,529	5,215
Disposed	Tonnes	2,491	1,816
of which incinerated (with energy recovery)	Tonnes	155	130
of which incinerated (without energy recovery)	Tonnes	560	85
of which landfilled	Tonnes	1,134	1,018
of which other disposal operations	Tonnes	643	583
Total (1+2)	Tonnes	36,267	30,628
Diverted from disposal	Tonnes	26,843	21,274
of which prepared for re-use	Tonnes	1,033	556
of which recycled	Tonnes	14,723	14,874
of which other recovery operations	Tonnes	11,087	5,845
Disposed	Tonnes	9,424	9,354
of which incinerated (with energy recovery)	Tonnes	211	181
of which incinerated (without energy recovery)	Tonnes	695	221
of which landfilled	Tonnes	1,513	1,465
of which other disposal operations	Tonnes	7,004	7,487

Considering the Group's total waste, the percentage of non-recycled waste amounted to 26% in 2025, while the remaining 74% was directed to recycling and/or recovery streams.

The increase in waste produced by the Group is principally atributable to the movement of excavated earth and rocks (CER 17.05.04) as part of the expansion of a plant in Italy. Although temporarily influencing the volume of non-hazardous materials managed, this opera�on was carried out in full compliance with current regula�ons, ensuring a proper start to the disposal or recycling processes.

Regarding the management of ou�lows, metallic waste and the waste from mechanical processing represent the primary categories associated directly with the Group's manufacturing ac�vi�es. Given the CER codes considered, the following types of waste material can be iden�fied: ferrous metal filings, shavings, and dust, as well as equipment emulsions, washing solu�ons, and packaging of various kinds. The quan�ty and composi�on of this waste vary significantly from one plant to another, depending on the types of ac�vity carried out.

Most of these flows already go for recycling and recovery, thus helping to curb the consump�on of raw materials and reduce the emission of pollutants into the atmosphere. Given the breadth of the Interpump Group's ac�vi�es and geographies, waste management and disposal decisions are made autonomously by each Group company, in compliance with the applicable local laws and using authorized operators.

The 2023-2025 ESG Plan also reflects the Group's ambi�on to increase the reuse opportuni�es for industrial waste, by qualifying it as by-products. In this context, only an industrial approach to the circular economy can ac�vate new collabora�ons with strategic suppliers, thereby reducing environmental impacts and the related costs.

Given the nature of the Group's industrial processes, radioac�ve waste is not included among the waste produced.

Es�mates were used to calculate the incoming and outgoing flows when exact quan��es were unavailable. In par�cular, the mass of incoming flows was some�mes determined by dividing the purchase cost of materials by the average unit purchase cost (EUR/tonne).

If weight informa�on was not available for outgoing flows, it was approximated with reference to disposed volumes and the related specific weights typically applicable, or to historical data updated with reference to 2025 turnover.

SOCIAL INFORMATION

In accordance with the regulatory requirements, this sec�on examines and reports on the social impacts, risks, and opportuni�es (IRO) iden�fied in the materiality analysis:

• ESRS S1 OWN WORKFORCE
• ESRS S2 WORKERS IN THE VALUE CHAIN
• ESRS S4 CONSUMERS AND END-USERS

ESRS S1 - OWN WORKFORCE

Strategy

ESRS 2 SBM-2 - Interests and views of stakeholders

The Interpump Group is commited to ongoing dialog with all stakeholders, in order to take their individual needs and ideas for improvement into considera�on. Employees and collaborators are recognized as stakeholders.

Ac�ng within a Group-inspired framework, every Interpump company has developed specific communica�ons channels for each category of stakeholder, in order to listen periodically and understand their points of view and needs. The Group engages with employees and collaborators in the following ways:

• periodic assessment of performance and results;
• specific training programs;
• communica�ons from top management;
• collec�ve bargaining;
• Ques�onnaire to iden�fy material sustainability topics.

ESRS 2 SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model

As also shown in the chapter on General Disclosures (ESRS 2), the Interpump Group has iden�fied eight poten�al nega�ve impacts associated with its own workforce.

Of these, three are reflected in objec�ves specified in the 2023-2025 ESG Plan adopted by the Interpump Group, which have already been listed in the sec�on of ESRS 2 en�tled "SBM-3: Material impacts, risks, and opportuni�es and their interac�on with strategy and business model":

Impact	Corresponding ESG Plan objective
Organization of resources and human capital	Increase of about 35% in average per-capita hours of non mandatory training at Group level.
	Maintain the "average injury rate" of employees in the three year period 2022-2024 below the average for the three-year period 2019-2021 (2.2);
Occupational health and safety	Extend adoption of the ISO 45001 Management System by Group production companies, increasing coverage from 22% to 45% of turnover.
Protection of human and workers' rights	Initiate and complete a pilot project to assess the workplace environment with a view to promoting the principles of diversity and inclusion.

At the same �me, following the double materiality analysis, five sustainability risks and five sustainability opportuni�es were iden�fied as material.

The considera�ons expressed in the "General Disclosures" sec�on (ESRS 2) apply to all workers poten�ally subject to material impacts generated by the Group. Interpump Group companies employed a total of 9,662 persons at 31 December 2025.

Given the nature of the sector in which the Group operates, the workforce mostly comprises men (81%), while the female component remains at 19%. In addi�on to temporary staff, the non-employed workforce includes an approximate total of 20 interns and external consultants. The large majority of employees are on full-�me permanent contracts, while other contract categories are marginal.

Consistent with the methodological framework of the impacts, risks, and opportuni�es (IRO) defined in the ESRS, the Group has iden�fied five opportuni�es for its workforce that have been included in the ac�ons envisaged in the Group's 2023-2025 ESG Plan. With regard to the risks, four originate from nega�ve impacts and one derives from dependence on employees.

In par�cular with reference to the link between the opportuni�es iden�fied for the workforce and the ESG Plan, the following ac�ons are envisaged:

• increase in average per-capita hours of non-mandatory training at Group level;
• develop the Group's global mobility program;
• pilot project to assess the workplace environment with a view to promo�ng the principles of diversity and inclusion.

None of the material sustainability impacts on the Group's own workforce are correlated with ac�ons included in a transi�on plan to reduce nega�ve environmental impacts.

As described in the sec�on en�tled "S1-1 – Policies related to own workforce," on 14 February 2020 the Interpump Group adopted "Human Rights Guidelines" that prohibit the exploita�on of child labor in its opera�ons. Accordingly, the workforce is not exposed to opera�ons deemed to be at risk of forced or child labor.

All material sustainability risks and opportuni�es iden�fied by the Interpump Group extend uniformly to all members of its own workforce, regardless of the geographies in which they operate or the ac�vi�es they perform. Currently, no ac�vi�es or geographies have been iden�fied as notably more exposed to sustainability risks than others.

Management of Impacts, Risks, and Opportuni�es

S1-1 - Policies related to own workforce

The Interpump Group has adopted a policy for managing the impacts, risks, and opportuni�es associated with its own workforce. This policy is reflected in the Policies and Guidelines adopted at Group level to safeguard and develop topics per�nent to its own workforce, such as working condi�ons, equal opportuni�es and treatment, skills development, and occupa�onal health and safety. These Policies and Guidelines are embedded in the Corporate Governance framework adopted by the Interpump Group. They have been approved by the Board of Directors of Interpump Group S.p.A., and their adop�on and implementa�on are mandatory for all subsidiaries, thereby binding the conduct of all workers and, to the extent applicable, the conduct of third par�es that maintain rela�ons with Interpump Group companies.

Engagement of own workforce

The Interpump Group believes in the fundamental importance of engaging with and listening to employees, in order to cul�vate a corporate culture based on collabora�on, dialog, and par�cipa�on. These aspects are consistent with the outcomes of the double materiality analysis, from which the impacts, risks, and opportuni�es concerning occupa�onal health and safety, diversity and inclusion emerged as material. These significant maters are addressed in the policies defined subsequently.

Training of own workforce

Interpump guarantees opportuni�es for professional growth and development for all employees, without discrimina�on of any kind. The principles underpinning this policy are documented in the Code of Ethics, the "HSE Policy", and the "DEI Policy". This orienta�on, also reflected in the ac�ons iden�fied in the 2023-2025 ESG Plan, rests on the principle of equitable access to individual learning opportuni�es, with training programs tailored to develop specific professional competencies, qualifica�ons, and performance. Given the characteris�cs of the Group, each company is responsible for making specific training programs accessible to their employees, having regard for their respec�ve geographical and technical requirements.

Cybersecurity guidelines

As iden�fied in the double materiality analysis, cybersecurity is one of the risks associated with the ac�vi�es of Group employees. Interpump Group S.p.A. approved Cybersecurity Guidelines on 15 March 2019, distribu�ng them to all Group companies, with a view to defining the minimum IT security measures that each company must adopt in order to prevent the risk of cyber atacks (regardless of geographical or size considera�ons). Adop�on of the above Guidelines is mandatory for all Group companies and their proper implementa�on is checked by the Internal Audit, Risk & Compliance Func�on, which carries out the related pre-planned audit work.

An internal func�onal commitee (IT Security Commitee) was established on 31 October 2023, tasked with defining a governance framework for managing cybersecurity risks and overall IT security within the Interpump Group. The principal objec�ves of this internal func�onal commitee are indicated below:

• assess the status of IT systems and provide related support to Group companies, with a par�cular emphasis on cybersecurity risks;
• provide assistance to Group companies on maters concerning their cyber-incident preven�on and response plans, including escala�on protocols for repor�ng incidents promptly to, as appropriate, top management, the Control and Risks Commitee, and the Board of Directors of Interpump Group S.p.A.;

• help the Board of Directors of Interpump Group S.p.A. to address any cybersecurity and IT security emergencies;
• examine and discuss cybersecurity best prac�ces with Group senior management, in order to determine whether the exis�ng IT systems, processes, policies, and controls align with benchmark standards;
• assess the need for and adequacy of insurance to cover losses caused by cybersecurity-related incidents;
• make proposals to Group senior management regarding op�mal alloca�on of the resources dedicated to cybersecurity.

Membership of the IT Security Commitee comprises the Chief Execu�ve Officer of Interpump Group S.p.A., as Commitee Chair, the Head of the Internal Audit, Risk & Compliance Func�on, the General Counsel & ESG Director, the Group Chief Financial Officer and, as subject mater experts, six representa�ves from the IT and cybersecurity domains of the principal subsidiaries. The Internal Audit, Risk & Compliance Func�on is tasked with distribu�ng this policy to designated contacts within each Group company. Given the characteris�cs of the Interpump Group, the CEOs of each company are responsible for implemen�ng this policy.

Health, safety and environment policy

A culture of workplace safety and respect for the environment is essen�al for the Interpump Group, which fosters and encourages responsible behavior, while also making available all the organiza�onal and financial resources needed to prevent incidents and occupa�onal illnesses, enhance occupa�onal health and safety, and protect the environment. The Board of Directors of Interpump Group S.p.A. approved an updated version of the "HSE Policy" on 22 January 2024, in order to embed the sustainability principles and commitments made by the Interpump Group on adop�ng the ESG Plan. The new Policy focuses more on sustainable development, energy saving, resource u�liza�on, the reduc�on of environmental impacts, and employee training. The Policy gives all Group companies a set of rules and minimum measures designed to protect workers and minimize the impacts of Group ac�vi�es on the environment and surrounding landscapes. Each Interpump Group company is required to adopt this Policy promptly, by resolu�on of the Board of Directors or, in its absence, the equivalent body. The above resolu�ons must then be forwarded to the Group Internal Audit, Risk & Compliance Func�on, which is tasked with monitoring their proper and �mely implementa�on.

Among the aspects related to occupa�onal health and safety, the Policy:

• promotes the exchange of informa�on and dialog with workers at all levels, in order to gather the informa�on needed to prevent hazards and workplace incidents on a �mely basis;
• establishes requirements for iden�fying and assessing the risks and hazards deriving from rou�ne or non-rou�ne ac�vi�es and situa�ons within company processes, interac�ons with external par�es with access to corporate loca�ons, and off-site ac�vi�es carried out at the premises of customers, suppliers, or other Group companies;
• ensures that employees receive adequate instruc�ons on how to perform their du�es safety, avoiding situa�ons that endanger their personal health and safety;
• steadfastly pursues the "zero injuries" objec�ve via the con�nuous iden�fica�on, assessment, preven�on of, and protec�on against health and safety risks, the swi� removal of poten�al hazards, and the implementa�on of employee health monitoring plans tailored to specific roles;
• minimizes the health and safety risks faced by workers from external companies and/or en��es who are required to carry out tasks at Interpump Group plants, such as the maintenance of plant and machinery, construc�on work, and cleaning or security services;
• promotes the adop�on of these values and principles governing health and safety maters by all par�es within the supply chain.

By implemen�ng the principles embedded in the "HSE Policy", Interpump respects the UN Sustainable Development Goals (SDGs) and the OECD Guidelines for Mul�na�onal Enterprises.

Beyond this and to strengthen the oversight of occupa�onal health and safety maters, certain Group companies have also adopted and implemented management systems cer�fied in accordance with interna�onal standard UNI EN ISO 45001:2018. See the specific sec�ons on environmental and personnel-related maters for further details.

Human Rights Guidelines

In conduc�ng its business and ac�vi�es, Interpump champions the protec�on of and respect for human and workers' rights. This commitment is embedded in the Code of Ethics, in strict compliance with the related interna�onal Conven�ons and other current and locally-applicable regula�ons.

The Board of Directors of Interpump Group S.p.A. adopted the "Human Rights Guidelines" on 14 February 2020 as a set of instruc�ons and rules of conduct designed to prevent all forms of discrimina�on, including those linked to the personal circumstances of individuals, and combat exploita�on in the workplace and child labor. These Guidelines support strongly the principles of dignity, freedom and equality, and the protec�on of working condi�ons, union rights and occupa�onal health and safety.

The adop�on and implementa�on of these instruc�ons and rules of conduct are mandatory for all Interpump Group companies and, therefore, employees and all those who act in the name and/or on behalf of Interpump Group companies, as well as advisors, suppliers and other third par�es, including customers, are requested to make every effort to respect the Guidelines and the principles embodied therein.

In par�cular, the "Human Rights Guidelines":

• recognize the right of employees to establish or par�cipate in organiza�ons and associa�ons that defend and promote workers' rights and interests, and prohibit discriminatory prac�ces that penalize them based on their membership of, or par�cipa�on in, union organiza�ons and associa�ons;
• recognize the right of workers to collec�ve bargaining and to be represented by unions or other forms of representa�on elected or formed in compliance with the regula�ons or prac�ces prevailing in the countries in which they work;
• condemn all forms of exploita�on of labor, whether forced by threats, in�mida�on, punishment, reprisals or physical violence, or achieved by the serious restric�on of personal freedoms, such as the confisca�on of money or iden�ty documents, human trafficking or modern slavery;
• ban the exploita�on of child labor;
• ban discriminatory prac�ces in any form, whether based on race, religious belief, age, ethnic origin, civil status, disability, sexual orienta�on, pregnancy or on any other personal condi�on;
• seek to ensure that all employees and candidates for employment are treated with full respect for diversity, promo�ng the principle of equal opportuni�es both when the working rela�onship is established and in all subsequent phases;
• prohibit as unacceptable any type of physical, verbal, sexual, or psychological harassment, as well as any form of abuse, threat, or in�mida�on in the workplace;
• recognize the importance of mentoring and professional training for the development of human resources and their skills, promo�ng all forms of involvement and par�cipa�on by employees and their representa�ves;
• promote respect for human rights by all par�es within the supply chain.

The "Human Rights Guidelines" draw inspira�on from the principles of the UN Universal Declara�on of Human Rights, the Fundamental Conven�ons of the Interna�onal Labor Organisa�on (ILO), the OECD Guidelines for Mul�na�onal Enterprises, and the principles embodied in the UN Global Compact.

The principles established in the "Human Rights Guidelines" also make reference to the standards and rules of conduct for comba�ng corrup�on, as specified in the "An�-Corrup�on Guidelines," for protec�ng and respec�ng the environment, as detailed in the "HSE Policy," and for enhancing diversity and inclusion, as embodied in the "DEI Policy".

Diversity, Equity and Inclusion Policy

The Interpump Group guarantees working condi�ons that respect individual dignity and are free from all acts of violence, a�tudes or behaviors that are discriminatory, or damaging to individuals, their beliefs, or their preferences. For this purpose, the Board of Directors of Interpump Group S.p.A. approved the "Diversity, Equity, and Inclusion Policy" on 22 January 2024. By adop�ng this set of principles, objec�ves, and commitments, the Group seeks to promote diversity, ensure equity, and foster inclusion within the organiza�onal structure and externally, thereby suppor�ng the advancement of an inclusive society.

The Policy aims to cul�vate a corporate culture founded on inclusion and mutual respect, in the convic�on that diversity, equity and inclusion, as well as the protec�on of workers' rights, are essen�al aspects of the Interpump Group's ac�vi�es and, as such, applicable to all Group companies.

In this light, the DEI Policy:

• recognizes diversity as a value that sparks innova�on, produc�vity, and the crea�on of ideas, li�s the climate in the workplace, and encourages a blended cultural environment;
• safeguards diversity in all its forms, including gender, age, culture, physical and mental abili�es and vulnerabili�es, gender iden�ty and sexual orienta�on, religious belief, and all other differences;
• guarantees fair access, treatment, opportuni�es, and professional growth in the workplace, removing barriers unrelated to merit that might hinder full par�cipa�on;
• promotes professional development and the recogni�on of individual talent via growth pathways that respect diversity and inclusion;
• ensures the gender-neutrality of remunera�on and incen�ve policies and prac�ces, basing them solely on equity and the recogni�on of merit;
• advances individual well-being and work-life balance, protec�ng the more vulnerable categories and ensuring fair access to work opportuni�es.

The principles reflected in the "DEI Policy" are consistent with the values embedded in Interpump's Code of Ethics and draw inspira�on from the principles that underpin the UN Universal Declara�on of Human Rights, the Fundamental Conven�ons of the Interna�onal Labor Organisa�on (ILO), the OECD Guidelines for Mul�na�onal Enterprises, and the UN Global Compact.

Each Interpump Group company is required to adopt this Policy promptly, by resolu�on of the Board of Directors or, in its absence, the equivalent body. The above resolu�ons must then be forwarded to the Group Internal Audit, Risk & Compliance Func�on, which is tasked with monitoring their proper and �mely implementa�on.

Remunera�on Policy

The Remunera�on Policy, inspired by the principles promoted in the Corporate Governance Code and aligned with corporate values and the expecta�ons of stakeholders, applies to all Group employees, irrespec�ve of their geographical loca�on or local business specifics. Ac�ng on a proposal from the Remunera�on Commitee, this Policy is first approved by the Board of Directors of Interpump Group S.p.A. and then submited to binding vote at the Shareholders' Mee�ng.

Via this Policy, the Interpump Group seeks to:

• atract and mo�vate experienced professional resources in pursuant of the financial and nonfinancial objec�ves of the Company and the Group, as well as to incen�vize the long-term loyalty of those persons who, given their skills and professional quali�es, are able to manage and operate within the Company and the Group for the achievement of those objec�ves;
• grow the medium/long-term value of the Interpump Group in a sustainable manner, facilita�ng alignment of the interests of management with the those of the shareholders, having regard for the interests of other stakeholders that are important for the Company and the Group.

Beyond close �es with the established economic-financial objec�ves, the Remunera�on Policy also strives to pursue the sustainable success of the Interpump Group. For this purpose, the 2023-2025 ESG Plan adopted by Interpump contains specific objec�ves for each sustainability domain - Environmental, Social, and Governance - in order to embed a long-term, realis�c approach to sustainability within the strategic objec�ves of the Company and the Group. This Policy applies to all Group employees, although its significance is greater for those employees whose poten�al departure would have a more substan�al impact by crystallizing a risk that was iden�fied in the double materiality analysis.

These Policies and Guidelines are published on the website at the following link: https://www.interpumpgroup.it/it/governance/documenti-societari, to ensure accessibility and clarity for all stakeholders. The 2025-2027 Remuneration Policy is, instead, available at the following link: https://www.interpumpgroup.it/it/governance/politiche-di-remunerazione

S1-2 - Processes for engaging with own workers and workers' representa�ves about impacts

The Interpump Group consistently priori�zes ac�ve workforce par�cipa�on in maters rela�ng to inclusion, diversity, occupa�onal health and safety, and the material impacts arising from sustainability processes.

The objec�ves of the Policies and Guidelines that safeguard personnel management and occupa�onal health and safety include increasing the involvement of Group workers in the management of these maters, thus strengthening cohesion and employee well-being.

Given the characteris�cs and diversifica�on of the Interpump Group, each subsidiary is directly responsible for local personnel management, working condi�ons, equal opportuni�es and treatment, skills development, and occupa�onal health and safety. For this purpose, they have designated internal bodies and func�ons (including HR and the preven�on and protec�on (safety) office) to manage these aspects.

Processes for engaging the Interpump workforce are facilitated through direct par�cipa�on, as envisaged by local regula�ons, or, in certain instances, through the involvement of formally-recognized workers' representa�ves. Addi�onally, certain Group companies have established joint workermanagement commitees to exchange informa�on and propose ini�a�ves on occupa�onal health and safety maters, such as health monitoring, risk assessment, incident inves�ga�on, and the promo�on of correc�ve ac�ons to enhance health and safety condi�ons, as well as ini�a�ves related to solidarity, inclusion, diversity, and sustainability in general. These internal commitees convene periodically throughout the year to ensure the con�nuous and updated monitoring of working condi�ons.

S1-3 - Processes to remediate nega�ve impacts and channels for own workers to raise concerns

The Interpump Group strives to ensure that all workers can express their concerns, sugges�ons or complaints about any poten�al or actual adverse impacts deriving from Group ac�vi�es, including with regard to the protec�on of human rights. This commitment is made explicit in the Code of Ethics and stated in the Global Compliance Program with reference to each material topic reported in this sustainability report. In par�cular, the Interpump Group recognizes the right of employees to establish or par�cipate in organiza�ons and associa�ons that defend and promote workers' rights and interests and, consequently, discriminatory prac�ces that penalize them based on their membership of, or par�cipa�on in, union organiza�ons and associa�ons, are prohibited. Addi�onally, the Group recognizes the right of its employees to collec�ve bargaining and to be represented by unions or other forms of representa�on, whether elected or formed in compliance with the regula�ons or prac�ces prevailing in the countries in which it operates. The Interpump Group does not allow the exploita�on of child labor. Group companies must ensure that their ac�vi�es and those carried out by third par�es, especially those in the supply chain, are free from all forms of exploita�on of child labor, as defined in the ILO C138 Minimum Age Conven�on.

Nega�ve impacts deriving, directly or indirectly, from the ac�vi�es of the Group may be reported by the persons concerned to the individual contact points in the companies involved, who are obliged to ini�ate all appropriate remedial ac�on to prevent, mi�gate and make good the related consequences. In addi�on, the corporate and control bodies of the Group companies involved in the event must be informed promptly by the individual contact points about any developments and the remedial measures adopted. Depending on the severity of the impacts, the responsible bodies within the Parent Company may be involved, as well as the Board of Directors.

During the reference period for this report, no complaints were received about actual or poten�al events deriving from Group ac�vi�es that might have generated nega�ve impacts.

Whistleblowing Procedure

The Interpump Group has published a "Whistleblowing Procedure" on the corporate website that explains how to submit and process reports on actual or alleged infringements of the principles and rules specified in the Code of Ethics, the Organiza�on, Management and Control Model pursuant to Decree 231/2001, Group policies and procedures and, more broadly, the applicable laws and regula�ons. The above Procedure describes and regulates the repor�ng process by giving the reporter (whistleblower) clear opera�onal instruc�ons about the subject, content and recipients of reports, as well as on how to submit them, guaranteeing to keep confiden�al the iden�ty of the reporter from the moment in which the report is received, as well as to forbid any direct or indirect reprisals or discrimina�on against the whistleblower, in accordance with the applicable current regula�ons. The Procedure also governs determina�on of the validity and truth of the reports, so that appropriate correc�ve and disciplinary ac�ons can be taken on a �mely basis. Reports are directed to Report Managers, who are appointed by the supervisory bodies of all Group companies from within the Internal Audit, Risk & Compliance Func�on. Reports may be submited through three preferen�al channels: web pla�orm, telephone contact, or regular mail. The Report Managers are responsible for administering all reports received, assessing their jus�fica�on and determining whether or not addi�onal checks are needed. Without prejudice to the requirement to disclose certain events on a �mely basis, each year or more frequently the Report Managers must guarantee a flow of summary informa�on to top management and the Board of Directors about the reports received and administered.

During the reference period for this report, no significant reports were received via the preferen�al channels about alleged irregulari�es or unlawful ac�vi�es.

S1-4 - Taking ac�on on material impacts on own workforce, and approaches to mi�ga�ng material risks and pursuing material opportuni�es related to own workforce, and effec�veness of those ac�ons

The Interpump Group has adopted ac�ons to manage impacts, risks, and opportuni�es related to its own workforce that - by focusing on the perimeter of the ESG Plan, which differs from the repor�ng perimeter used for this document - cannot be deemed aligned with ESRS requirements. In future, the Group will consider defining or upda�ng ac�ons in this area.

Nevertheless, as shown in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportuni�es and their interac�on with strategy and business model", included in this chapter (and to which reference is made), the Interpump Group has included ac�ons in the 2023-2025 ESG Plan that address the following material sustainability impacts on its own workforce:

• organiza�on of resources and human capital;
• occupa�onal health and safety;
• protec�on of human and workers' rights.

The ac�ons effec�vely seek to mi�gate material nega�ve impacts ("employee health and safety" and "protec�on of human and workers' rights") or generate material posi�ve impacts ("organiza�on of resources and human capital") for the Group's employees. The outcomes of these ac�ons are monitored by the Interpump Group to determine whether or not they sa�sfy the desired expecta�ons. Periodically, top management and board commitees receive updates on these maters, including an analysis of workplace injuries and the measures taken to reduce them. At present, no specific monetary or non-monetary resources have been iden�fied that can be reported separately from expenditures on normal business processes, in which such ac�ons are inherent and not separately iden�fiable.

The ESG Plan and related ac�ons were devised by the Group ESG func�on under the supervision of the General Counsel & ESG Director. The Plan was cra�ed a�er benchmarking the posi�on of the Interpump Group within its sector of opera�ons, and considering key sustainability macro-trends.

As shown in the following table, the ac�ons included in the ESG Plan may also help to mi�gate sustainability risks or pursue ant material sustainability opportuni�es iden�fied:

ESG Plan objective	Sustainability risk to be mitigated	Sustainability opportunity to be pursued
Maintain the "average injury rate" of employees in the three-year period 2022- 2024 below the average for the three-year period 2019- 2021	• If insufficient attention is dedicated to the health and safety of employees, as in the case of workplace injuries caused by adequate preventive measures or the incorrect identification of risks, Interpump could be faced with an increase in compensation claims and legal penalties for failure to comply with the regulations. Furthermore, an unsafe working environment could result in an increase in employee turnover and a consequent reduction in productivity, in addition to reputational losses.
Extend adoption of the ISO 45001 Management System by Group production companies, increasing coverage from 22% to 45% of turnover.	• If insufficient attention is dedicated to the health and safety of employees, as in the case of workplace injuries caused by adequate preventive measures or the incorrect identification of risks, Interpump could be faced with an increase in compensation claims and legal penalties for failure to comply with the regulations. Furthermore, an unsafe working environment could result in an increase in employee turnover and a consequent reduction in productivity, in addition to reputational losses.
Increase of about 35% in average per-capita hours of non-mandatory training at Group level.	• Low workforce morale and the erosion of trust can have a serious impact on the operations and financial performance of a business. These factors may have an adverse impact on the reputation of the Group and lead to greater employee turnover (lower productivity, additional training and hiring costs)	• Training initiatives designed to promote personnel growth and enhance career opportunities can lift employee morale and their sense of belonging.

ESG Plan objective	Sustainability risk to be mitigated	Sustainability opportunity to be pursued
Development of a Group global mobility program	• Low workforce morale and the erosion of trust can have a serious impact on the operations and financial performance of a business. These factors may have an adverse impact on the reputation of the Group and lead to greater employee turnover (lower productivity, additional training and hiring costs)	• Operational opportunity linked to a more productive and engaged workplace (sense of belonging among employees)
Pilot project to assess the workplace environment with a view to promoting the principles of diversity and inclusion.		• The promotion of a culture of respect stimulates collaboration and expansion of the corporate network. Transforming compliance obligations into a competitive opportunity • Operational opportunity linked to a more productive and engaged workplace (sense of belonging among employees)

For informa�on about how Interpump seeks to ensure that its prac�ces do not cause or contribute to material nega�ve impacts on its own workforce, reference is made to the controls described in the earlier sec�ons en�tled "S1-1 - Policies related to own workforce" and "S1-3 - Processes to remediate nega�ve impacts and channels for own workers to raise concerns".

Metrics and targets

S1-5 - Targets related to managing material nega�ve impacts, advancing posi�ve impacts, and managing material risks and opportuni�es

The Interpump Group has iden�fied targets for managing the impacts, risks, and opportuni�es related to its own workforce, but only in the context of the 2023-2025 ESG Plan that, however, cannot be deemed aligned with ESRS requirements. In future, the Group will consider defining targets in this area.

The metrics presented in this chapter have not been validated by an external en�ty, other than the party that issued the atesta�on of conformity.

S1-6 - Characteris�cs of the undertaking's employees

The Group has 9,662 employees at 31 December 2025, mostly concentrated in Italy, the United States, India, Germany, and China; however, the incidence of employees in Italy and the USA each exceeds 10% of the total. Permanent, full-�me contracts are undoubtedly the most prevalent.

Preserva�on of the bond between newly-acquired companies and their local territories is dis�nguishing characteris�c of the Interpump Group, upheld over �me and through mul�ple M&A transac�ons. This approach not only maintains the local corporate iden�ty, but also safeguards the social fabric of the territory, the local sources of employment, and the respec�ve supplier networks.

The tables present the actual employee headcount at 31/12, rather than averages or FTEs. No par�cular assump�ons have been made with regard to this indicator, as reference is always made to the exact numbers.

The Group's employees are analyzed by gender below, together with specific details for Italy and the USA. Employment in each of these two countries exceeds 50 persons and they each account for more than 10% of the total Group workforce.

The number of employees at 31 December 2025 is reported here as an integer, whereas the "Group companies" chapter of the financial statements presents the average number of employees during the year.

Employees by	2025
gender	Italy	USA	Other countries	Group	Italy	USA	Other countries	Group
Men	3,201	897	3,694	7,792	3,106	919	3,522	7,547
Women	849	237	784	1,870	799	245	763	1,807
Other	-	-	-	-	-	-	3	3
Not specified	-	-	-	-	-	-	-	-
Total	4,050	1,134	4,478	9,662	3,905	1,164	4,288	9,357
%	42%	12%	46%	100%	42%	12%	46%	100%

The following table reports employee informa�on by type of contract and gender.

Employees by					2025					2024
contract type	Men	Women	Other	Not specified	Total	Men	Women	Other	Not specified	Total
No. of employees	7,792	1,870	-	-	9,662	7,547	1,807	3	-	9,357
of which on permanent contracts	7,631	1,821	-	-	9,452	7,363	1,745	3	-	9,111
of which on fixed-term contracts	161	49	-	-	210	184	62	-	-	246
of which on variable hours contracts	2	2	-	-	4	4	-	-	-	4
of which on full-time contracts	7,723	1,635	-	-	9,358	7,490	1,576	3	-	9,069
of which on part-time contracts	69	235	-	-	304	57	231	-	-	288

The turnover rate reflects the ra�o of the number of employees who departed to the number of persons employed at 31 December 2025.

Terminations	2025	2024
Employees at 31/12	9,662	9,357
No. of terminations	1,107	1,480
of which resignations	613	776
of which retirements	147	118
of which dismissals	273	407
of which contract expiry	43	153
of which failure to pass the probationary period	31	26
Turnover rate	11.5%	15.8%

The following analysis by region provides beter insight into the geographical distribu�on of employees among the various countries in which the Group operates. This distribu�on is consistent with that used in earlier sec�ons to allocate revenues by geographical area.

A. REPORT ON OPERATIONS FOR 2025

Employees by	2025											2024
type of contract and geographical area	Italy	Rest of Europe	North America	Far East / Pacific Area	Rest of the World	Total	Italy	Rest of Europe	North America	Far East / Pacific Area	Rest of the World	Total
No. of employees	4,050	2,256	1,310	799	1,247	9,662	3,905	2,192	1,328	772	1,160	9,357
of which on permanent contracts	4,005	2,157	1,296	749	1,245	9,452	3,833	2,089	1,318	712	1,159	9,111
of which on fixed-term contracts	45	99	14	50	2	210	72	103	10	60	1	246
of which on variable hours contracts	1	-	-	3	-	4	-	4	-	-	-	4
of which on full-time contracts	3,859	2,175	1,290	789	1,245	9,358	3,722	2,119	1,309	760	1,159	9,069
of which on part-time contracts	191	81	20	10	2	304	183	73	19	12	1	288

All tables present the actual number of employees at 31 December 2025. Accordingly, no assump�ons or methodologies have been used.

S1-8 - Collec�ve bargaining coverage and social dialog

Overall, 69% of Group employees are covered by collec�ve bargaining agreements. Coverage is however uneven due to the variety of countries in which the Group operates, with 100% cover in countries like Italy and much lower percentages elsewhere.

The following table presents the coverage of collec�ve bargaining agreements and social dialog in the two countries (Italy and the USA) whose Group employees each account for more than 10% of the total workforce:

			2025
Coverage rate	Coverage of collective bargaining		Social dialog	Coverage of collective bargaining	Social dialog
	Employees - EEA countries	Employees - non-EEA countries	Workplace representation	Employees - EEA countries	Employees - non-EEA countries	Workplace representation
0 - 19%		USA	USA		USA	USA
20 - 39%
40 - 59%
60 - 79%
80 - 100%	Italy		Italy	Italy		Italy

In Italy, the number of employees covered by collec�ve bargaining agreements may exceed the number of union members, as these agreements apply to both union members and non-members.

Again in Italy, social dialog is certainly facilitated by the ac�vi�es of Workers' Safety Representa�ves (RLS) and, where present, by Local Union Representa�ves (RSU). While social dialog is recognized as a fundamental component of the European social model, the penetra�on of employee par�cipa�on in other countries is much lower.

S1-9 - Diversity metrics

The term "senior management" refers to the first and second organiza�onal levels that report to the administra�ve and supervisory bodies of Interpump Group S.p.A. Overall, this set of employees corresponds to the execu�ves working at the various Group companies.

The following tables analyze the distribu�on of senior management by gender, in numerical and percentage terms.

Composition of		2024
senior management	Number	%	Number	%
Men	198	87.2%	198	87.2%
Women	29	12.8%	26	11.7%
Other	-	-	-	-
Not specified	-	-	-	-
Total	227	100.0%	223	100.0%

The next table analyzes the distribu�on of Group employment by age.

Employees by		2024
age	Number	%	Number	%
< 30	1,281	13.3%	1,333	14.2%
30 - 50	5,214	54.0%	5,018	53.6%
> 50	3,167	32.8%	3,006	32.1%
Total	9,662	100.0%	9,357	100.0%

S1-10 - Adequate wages

Considering the adequacy of wages, Interpump has analyzed and normalized the total gross annual pay (RAL) (thus including any components of income other than RAL) of all employees at 31 December 2025 of all companies consolidated line by line, except: Tuto Hidráulicos Ltda, Borghi Assali S.r.l., Padoan Deutschland GmbH, Padoan Swiss SA, F.A.R.M.A. S.r.l. and F.A.R.M.A. USA Inc.

This process normalized their remunera�on on an annual basis, overcoming any differences linked to the �ming of hiring during the year or between full-�me and part-�me contracts.

The resul�ng amount was compared with 50% of the average remunera�on reported by the OECD or another authorita�ve data provider on its website. Where the remunera�on of an individual did not exceed these thresholds, a check was made to ensure that the annual wage was s�ll adequately greater than the legal minimum.

This analysis confirmed that all Group employees receive an adequate wage, in compliance with ESRS S1-10.

S1-13 - Training and skills development metrics

Corporate training and skills development are a cornerstone of the Group's growth strategy. For this purpose, Interpump plans and organizes training courses designed to develop the abili�es needed to perform the du�es assigned and grow the skills of management. Adequate prepara�on and training also increase the knowledge of opera�onal processes, improving quality standards and, at the same �me, mi�ga�ng injury risks.

Given the importance of training, this topic was also addressed in the 2023-2025 ESG Plan, which sets a target increase in the average non-mandatory training hours per capita at Group level. Considering the targets set for the reduc�on of injury rates, all training hours other than for "Health and Safety" were treated as non-mandatory.

The following table analyzes the 2025 training hours by topic and gender:

Training hours					2025					2024
by type	Men	Women	Other	Not specified	Total	Men	Women	Other	Not specified	Total
Anti-corruption	1,066	283	-	-	1,349	981	183	-	-	1,164
Cyber security - IT	3,062	1,134	-	-	4,196	3,431	877	-	-	4,309
Compliance	2,853	1,134	-	-	3,987	638	335	-	-	973
Health and safety	26,509	3,727	-	-	30,236	27,895	5,204	-	-	33,098
Foreign languages	3,477	1,293	-	-	4,770	4,098	1,710	-	-	5,808
Leadership	4,119	807	-	-	4,925	2,534	959	-	-	3,493
Soft skills	6,089	2,412	-	-	8,500	5,713	5,342	-	-	11,055
Technical training	37,783	8,568	-	-	46,352	35,515	10,125	-	-	45,641
Other	9,850	2,980	-	-	12,830	12,567	3,561	-	-	16,128
Total	94,809	22,337	-	-	117,146	93,373	28,296	-	-	121,668

Per capita training hours in 2025:

Training hours					2025					2024
per capita	Men	Women	Other	Not specified	Total	Men	Women	Other	Not specified	Total
All categories	12.2	11.9	-	-	12.1	12.4	15.7	-	-	13.0
All categories excluding HSE	8.8	10.0	-	-	9.0	8.7	12.8	-	-	9.5

All training hours delivered to enhance the professional and personal skills of employees were considered for repor�ng purposes, provided they were documented formally and can be verified ex post (demonstrability criterion). OTJ training, training workers for another role, and other training hours arranged independently by individuals (e.g., study leave) were excluded from the above calcula�on. Accordingly, this metric does not contain any es�mates or approxima�ons.

S1-14 - Health and safety metrics

Consistent with the structure of the Group, all Interpump employees are covered by the health and safety management systems adopted by their respec�ve companies. During 2025, there were no fatali�es due to work-related injuries or illnesses among Group employees or other workers opera�ng at Group sites.

The following table presents the number and rate of injuries, dis�nguishing those injuries that caused an absence from work for:

• Up to one day
• More than a day

Work-related injuries - employees	2025	2024
No. of deaths from work-related injuries	-	-
Days lost for deaths from work-related injuries	-	-
Work-related injuries with absences <= 1 day
No. of injuries	87	88
Work-related injury rate	5.2%	5.5%
Work-related injuries with absences > 1 day
No. of injuries	146	118
Work-related injury rate	8.8%	7.3%
Total work-related injuries
Hours worked	16,588,774	16,058,275
No. of injuries	233	206
Days lost	3,994	2,859
Work-related injury rate	14.0%	12.8%

The injury rates were calculated in accordance with EU regula�ons, using a mul�plier of 1,000,000 (equivalent to annual working hours), so that the injury rate equals the number of injuries * 1,000,000 / actual hours worked. For completeness, this indicator previously used 200,000 hours as the mul�plier.

The following table is provided for work-related illnesses:

Work-related illnesses - employees	2025	2024
No. of deaths from work-related illnesses	-	-
Days lost for deaths from work-related illnesses	-	-
No. of work-related illnesses	-	2
Days lost due to work-related illnesses	-	86

S1-16 - Compensa�on metrics (pay gap and total compensa�on)

The ra�o of the highest total annual remunera�on within the organiza�on to the median wage of Group employees was calculated using both the fixed and variable components of gross remunera�on, a�er normalizing the amounts to make them consistent and comparable. The above ra�o, excluding the long-term incen�ve component of remunera�on (share-based incen�ve plans), was about 81 in 2025. Including the stock op�on plans detailed in the Report on Remunera�on Policy and Compensa�on Paid, the above ra�o rises to about 217.

To beter present how this ra�o is calculated, the Group considered all employees on the payroll at 31 December 2025 of the companies consolidated line by line, except: Tuto Hidráulicos Ltda, Borghi Assali S.r.l., Padoan Deutschland GmbH, Padoan Swiss SA, F.A.R.M.A. S.r.l. and F.A.R.M.A. USA Inc.

The remunera�on of employees with part-�me contracts and of those persons hired during the year was normalized, to make it equivalent to that of an employee with a full-�me contract from 1 January to 31 December 2025. Employees who terminated the working rela�onship during the year were excluded from the calcula�on. Total annual remunera�on includes:

• fixed components: normalized annual basic pay, including any references made to the collec�ve bargaining and personal agreements;
• variable components, only if actually received (cash basis), including remunera�on for over�me hours, bonuses and awards, incen�ves, commissions, fringe and flexible benefits;
• long-term bonuses and stock op�ons (where applicable), measured at fair value if specified in the Remunera�on Policy, or otherwise as income in kind.

In order to calculate the gender pay gap, the Group reduced the gross annual pay (RAL) of employees to an hourly rate (calculated as RAL / contractually agreed working hours). At Group level, the ra�o of the average hourly pay of women to that recognized to men was 94% in 2025 (unchanged with respect to the prior year).

S1-17 - Incidents, complaints and severe human rights impacts

Interpump has not received, directly via its own channels or via subsidiaries, any complaints or reports of workplace incidents that appear significant or cri�cal.

Addi�onally, no significant or problema�c episodes of work-related discrimina�on based on gender, race or ethnicity, na�onality, religion or personal beliefs, disability, age, sexual orienta�on, or other relevant forms of discrimina�on involving stakeholders were recorded in 2025.

There were no severe incidents involving human rights during 2025.

ESRS S2 - WORKERS IN THE VALUE CHAIN

Strategy

ESRS 2 SBM-2 - Interests and views of stakeholders

The Interpump Group is commited to ongoing dialog with all stakeholders, in order to take their individual needs and ideas for improvement into considera�on.

For now, considering the results of the latest materiality analysis, the Group has decided to focus engagement ac�vi�es on those categories of stakeholders considered more directly affected, deferring specific analysis of the views of workers in the value chain to a later date.

ESRS 2 SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model

As shown in the earlier sec�on en�tled "SBM-3 - Material impacts, risks, and opportunities and their interaction with strategy and business model", included in the chapter on General Disclosures (ESRS 2), the Interpump Group has iden�fied four poten�al nega�ve impacts rela�ng to value chain workers, associated with the sub-topic "other work-related rights". At the same �me, following the double materiality analysis, three risks associated with the sub-topic "other work-related rights" were iden�fied as material. Similar to the impacts iden�fied, none of them directly correlated with the objec�ves included in the Group's 2023-2025 ESG Plan.

The 2023-2025 ESG Plan does not include ac�ons or targets related to the sustainability impacts iden�fied in connec�on with its value chain.

The considera�ons expressed in the "General Disclosures" sec�on (ESRS 2) apply to the following categories of workers in the Interpump Group's value chain:

• workers present at Group loca�ons, but not part of its own workforce, such as agency and maintenance personnel;
• workers upstream in the value chain, involved in the ini�al stages of the Group's produc�on ac�vi�es, such as foundry workers and persons employed by the suppliers of semi-finished products;
• workers downstream in the value chain, such as those employed in logis�cs, distribu�on, and a�er-sales services.

To date, the listening channels and analy�cal processes ac�vated have not iden�fied specific issues rela�ng to vulnerable workers in the value chain. This assessment is subject to constant updates as the systems for monitoring the supply chain evolve.

The Board of Directors of the Interpump Group adopted the "Human Rights Guidelines" on 14 February 2020, as a set of instruc�ons intended to combat exploita�on in the workplace and child labor. The adop�on and implementa�on of these instruc�ons and rules of conduct are mandatory for all Interpump Group companies and, therefore, employees and all those who act in the name and/or on behalf of Interpump Group companies, as well as advisors, suppliers and other third par�es, including customers, are requested to make every effort to respect the Guidelines and the principles embodied therein.

All the sustainability impacts on the value chain workers iden�fied by Interpump Group are considered nega�ve. Of these, only "Management of sensitive data and information" is common to all contexts in which the Group operates, while the "Protection of human and workers' rights" occurs only in countries outside the macro-group (Europe, North America, and Australia).

Of the three iden�fied risks, two derive from the Group's dependencies (specifically suppliers), while the other arises from a material sustainability impact (specifically "Management of sensitive data and information").

All material sustainability risks iden�fied by the Interpump Group extend uniformly to all value chain workers included in the perimeter analyzed (listed above), regardless of the geographies in which they operate or the ac�vi�es they perform. Currently, no ac�vi�es or geographies have been iden�fied as more exposed to sustainability risks than others.

Management of Impacts, Risks, and Opportuni�es

S2-1 - Policies related to value chain workers

Given the strategic importance of the en��es that operate within the value chain, the Interpump Group has decided to strengthen rela�onships and promote sustainability prac�ces throughout the value chain, and has adopted a policy for managing the impacts, risks, and opportuni�es related to value chain workers.

To this end, the Interpump Group has established a set of corporate governance rules and a Global Compliance Program that define policies and guidelines to mi�gate significant impacts on or create opportuni�es for value chain workers. This program is rooted in the principles and values embodied in the Code of Ethics, which protects and promotes the value of human resources, both its own and those in the value chain, in order to enhance and develop their wealth of knowledge and skills. In all its ac�vi�es, Interpump pursues and promotes respect for human rights and, in par�cular, the respect for human life, the freedom and dignity of individuals, jus�ce, fairness and solidarity. The physical and moral integrity of personnel, whether or not direct employees, is guaranteed via the provision of working condi�ons that respect their personal dignity and working environments that are safe and healthy.

The Policies and Guidelines, referenced in chapters ESRS S1 and ESRS G1, mandate all Interpump Group companies to disseminate and promote their principles and values among their employees and all value chain workers. These Policies and Guidelines are consistent with the values embodied in Interpump's Code of Ethics and the guidelines, standards and laws promulgated at an interna�onal level, including the UN Universal Declara�on of Human Rights, the Fundamental Conven�ons of the Interna�onal Labor Organisa�on (ILO), the OECD Guidelines for Mul�na�onal Enterprises, and the UN Global Compact.

They establish high-level direc�ves for the protec�on and development of topics relevant to value chain workers, but do not specify in detail how the Group manages the related impacts, risks, and opportuni�es, as required by the ESRS. In future, the Group will consider defining or upda�ng the current Policies and Guidelines in order to align their principles with the requirements of the CSRD.

No instances of non-compliance with the guiding principles of the UN Universal Declara�on of Human Rights, the Fundamental Conven�ons of the Interna�onal Labor Organisa�on (ILO), or the OECD Guidelines for Mul�na�onal Enterprises, that involve upstream and downstream value chain workers were highlighted during the reference period of this report.

Although the Group has not yet formally adopted a Suppliers' Code of Conduct, its development and promo�on is currently at an advanced stage, with a view to its structural applica�on throughout the value chain.

S2-2 - Processes for engaging with value chain workers about impacts

As stated in the earlier sec�on en�tled "ESRS 2 SBM-2 - Interests and views of stakeholders", included in this sec�on, value chain workers are not currently among the priority categories involved in the stakeholder engagement process developed by the Group.

However, ini�a�ves have s�ll been implemented to reduce any actual and poten�al nega�ve impacts on value chain workers resul�ng from the Group's ac�vi�es. In par�cular with regard to the supply chain, a supplier ra�ng model based on environmental, social, and governance criteria has been implemented. All suppliers are rated on each of the following areas of interest and with regard to their ESG-related policies and cer�fica�ons, their procedures for defining and monitoring the related KPIs, and their improvement targets. The metrics used include:

• respect for human rights, child labor and forced labor prac�ces, and general working condi�ons;
• personnel management, respect for diversity, and equal opportuni�es;
• occupa�onal health and safety;
• cybersecurity and data protec�on.

By analyzing the informa�on received via the supplier ra�ng model, the Interpump Group is able to iden�fy possible issues and the viewpoints of value chain workers.

Given the specific characteris�cs of each company within the Interpump Group, it is currently not possible to provide specific informa�on about how they engage with workers throughout the value chain. Accordingly, in the near future, Interpump will define a structured engagement process for these workers, in order to iden�fy more precisely any actual and poten�al impacts deriving from Group ac�vi�es.

S2-3 - Processes to remediate nega�ve impacts and channels for value chain workers to raise concerns

The Interpump Group strives to ensure that all value chain workers can express their concerns or complaints about any poten�al or actual adverse impacts deriving from Group ac�vi�es, including with regard to working condi�ons and the protec�on of human rights. In par�cular, as envisaged in ILO Conven�on 138, human trafficking and the exploita�on of child, forced or compulsory labor are not tolerated.

Any concerns or complaints can be reported to contact points at each Group company, including their HSE managers, who are required to take remedial ac�on to prevent, mi�gate, and remediate nega�ve impacts. The processes implemented by the Interpump Group to mi�gate nega�ve impacts are considered to be effec�ve.

The corporate and control bodies of the Group companies concerned are informed promptly about developments and the remedial measures adopted. Depending on the severity of the impacts, the responsible bodies within the Parent Company may be involved, as well as the Board of Directors.

Each Interpump Group company adopts its own procedures for monitoring and addressing concerns or complaints received from value chain workers.

During the reference period for this report, no complaints or concerns about events that caused nega�ve impacts were reported by value chain workers or en��es. The Interpump "Whistleblowing Procedure" described in Chapter ESRS S1 also establishes procedures for submi�ng and processing reports concerning any alleged infringements, misconduct, or concerns iden�fied by value chain workers.

To ensure that value chain workers are aware of the channels available to raise their concerns, Group companies employ various methods to inform them about their existence and the rules for their use. Addi�onally, all Group companies publish the "Whistleblowing Procedure" on their websites, thus ensuring greater visibility for and access to this informa�on. In order to protect the value chain workers who use these channels to raise their concerns, Interpump has implemented non-retalia�on policies that prohibit any form of retalia�on against workers who report concerns or use the remedia�on processes. The above policies ensure that all reports are processed confiden�ally to protect the iden��es of the workers concerned.

S2-4 - Taking ac�on on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportuni�es related to value chain workers, and effec�veness of those ac�ons

The Interpump Group promotes proper collabora�on with all value chain workers but, given the geographical spread of the Group, no specific ac�ons aligned with ESRS requirements are envisaged at this �me. In future, the Group will consider defining or upda�ng ac�ons in this area.

No severe human rights issues or incidents within the upstream and downstream value chains were iden�fied or reported during the reference period for this report.

At present, no specific monetary or non-monetary resources have been iden�fied that can be reported separately from expenditures on normal business processes, in which such ac�ons are inherent and not separately iden�fiable.

Metrics and targets

S2-5 - Targets related to managing material nega�ve impacts, advancing posi�ve impacts, and managing material risks and opportuni�es

As previously stated, given the specific characteris�cs of the Group and the fragmenta�on of the value chain, the Interpump Group has not yet iden�fied targets in rela�on to this aspect. In future, the Group will consider defining targets in rela�on to value chain workers.

ESRS S4 - CONSUMERS AND END-USERS

Strategy

ESRS 2 SBM-2 - Interests and views of stakeholders

The Interpump Group is commited to ongoing dialog with all stakeholders, in order to take their individual needs and ideas for improvement into considera�on. Customers and end users are recognized as stakeholders.

For each category of stakeholder, the Group has established specific communica�ons channels via which to listen periodically and understand their points of view and needs.

The Group engages with customers and end users in the following ways:

• sales visits;
• corporate websites;
• management of complaints;
• catalogs;
• a�er-sales service;
• trade fairs.

ESRS 2 SBM-3 - Material impacts, risks, and opportuni�es and their interac�on with strategy and business model

As shown in the earlier sec�on en�tled "SBM-3: Material impacts, risks, and opportunities and their interaction with strategy and business model", included in the chapter on General Disclosures (ESRS 2), the Interpump Group has iden�fied just one poten�al nega�ve impact rela�ng to consumers and end users, associated with the sub-topic: "impacts related to the informa�on provided to consumers and/or end-users". At the same �me, following the double materiality analysis, the risk associated with privacy and compliance linked to the possible dissemina�on of personal data has been iden�fied as significant.

In this context, the 2023-2025 ESG Plan does not include ac�ons or targets related to the sustainability impacts or risks iden�fied in connec�on with its value chain.

Interpump Group customers are all professional operators, mostly Original Equipment Manufacturers (OEM), that incorporate Group products into their more complex systems and equipment. In this context, any direct sales to "end consumer", as defined in the current regula�ons, are en�rely marginal, if not absent.

As indicated in the earlier sec�on en�tled "SBM-1: Strategy, business model, and value chain", the Interpump Group mostly collaborates with B2B customers and, accordingly, it is difficult to iden�fy endusers of the mul�ple applica�ons of the Group's products who might be exposed to value chain risks.

Interpump strives proac�vely to improve and expand its range of products, carefully checking their compa�bility with the systems in which they are incorporated. Addi�onally, internally designed control systems and test equipment have enabled the Group to obtain a series of approvals from Interna�onal Cer�fica�on Bodies, ates�ng to the high quality and verified compa�bility of the products checked. This commitment is confirmed by the Group's affilia�on with the major standardiza�on bodies, including the Italian Standards Body (UNI).

The sustainability impact on consumers and/or end-users in the value chain iden�fied by the Interpump Group (Management of sensi�ve data and informa�on) is assessed as nega�ve and is common to all contexts in which the Group operates.

Although significant at every level within the value chain, these risks and impacts become more important from a commercial standpoint when it comes to the management of customers.

Management of Impacts, Risks, and Opportuni�es

S4-1 - Policies related to consumers and end users

Given the role of customers and, where applicable, end users within the value chain, the objec�ve of the Interpump Group is to strengthen rela�ons with them while promo�ng sustainability prac�ces throughout the value chain. In this context, the Group has adopted a set of rules and tools, including the Global Compliance Program, the Code of Ethics, and addi�onal policies and guidelines, intended to monitor and govern the impacts, risks, and opportuni�es associated with customers and end users, with a focus on the material topics iden�fied.

In par�cular, within the Global Compliance Program (which includes a set of corporate governance rules), Interpump has defined responsible prac�ces that, in par�cular, promote the safe use of its products and solu�ons by end-users. These prac�ces aim to ensure that the best preven�ve measures are adopted to avoid risks or harm from use of the products sold, while also guaranteeing compliance with high quality standards. The Interpump Group is unwaveringly commited to strict compliance with the regula�ons in force in the countries where it operates and at interna�onal level (including ATEX, EMC, REACH, ROHS, and Proposi�on 65) that safeguard and protect customers and end-users.

In addi�on, the Code of Ethics defines principles and values that safeguard and protect all actors in the value chain. Lastly, the Policies and Guidelines, referenced in chapters ESRS S1 and ESRS G1, mandate all Interpump Group companies to disseminate and promote the above-men�oned principles and values.

At the date of this report, no infringements of the values and principles applicable to end-users, as embodied in the Interpump Code of Ethics, the UN Global Compact, and the OECD Guidelines, have been iden�fied or reported in rela�on to the downstream value chain.

The Policies and Guidelines establish high-level direc�ves for the protec�on and development of topics relevant to customers and end-users, but do not specify in detail how the Group manages the related impacts, risks, and opportuni�es, as required by the ESRS. In future, the Group will consider defining or upda�ng the current Policies and Guidelines in order to align their principles with the requirements of the CSRD.

The Interpump Group is unwaveringly commited to strict compliance with the regula�ons in force in the countries where it operates that safeguard and protect customers and end-users.

S4-2 - Processes for engaging with consumers and end-users about impacts

Establishing dialog and clear, accessible communica�ons with customers and end-users about the characteris�cs of its products, solu�ons, and services, is a priority for the Interpump Group. Transparent communica�ons build trust in business rela�ons and help customers and end-users to make informed decisions.

The Interpump Group has developed specific channels for sharing and exchanging communica�ons and informa�on with customers and end-users. Specifically - in addi�on to the management of a�er-sales services and complaints, and the organiza�on of trade fairs - sales visits, the websites of Group companies and their social media pla�orms ensure con�nuous communica�ons and frequent engagement.

The commercial func�ons within Interpump Group companies ensure that the feedback from endusers, received via customers, is collected and used to improve the products and services offered. This ac�vity includes managing customer rela�ons via various communica�on channels and analyzing the data collected to iden�fy trends and the emerging needs of end-users. In addi�on, top management at Group level ensures that corporate strategies are focused on sustainability and that the indirect feedback from end-users is considered when making business decisions. Top management must oversee and regularly assess the ESG performance of the Group, ensuring that sustainability targets are achieved and that business prac�ces are transparent and accountable. This integrated approach, focused on customers and end-users, is essen�al so that the Group can build trust and maintain a posi�ve market reputa�on.

Feedback from customers and end-users provides valuable insights into areas for improvement and, by leveraging this informa�on, the Group can op�mize its processes, products, and services, enhancing their quality and efficiency. This approach to con�nuous contributes to the Interpump Group's longterm compe��veness and sustainability.

Consistent with a strategic vision that posi�ons ac�ve listening and a customer-centric approach at the heart of the business model, during 2025 the Interpump Group launched a more structured process of stakeholder engagement, involving two key commercial partners. These partners have already adopted the CSRD and share the same repor�ng standards and logic, thus facilita�ng the immediate release of opera�onal synergies. This ini�a�ve seeks to monitor market developments and ESG expecta�ons, but it also represents a privileged channel for the collec�on of direct feedback about the Group's strategies, contribu�ng to the shared defini�on of material priori�es and the co-crea�on of new sustainability ini�a�ves. This dialog program is expected to become an annual appointment, with a view to progressive extension that ensures both con�nuous assessment and constant alignment of approach towards market and regulatory challenges.

S4-3 - Processes to remediate nega�ve impacts and channels for customers and end-users to raise concerns

The Interpump Group strives to ensure that customers, and even end-users, can express their concerns or complaints about any poten�al or actual adverse impacts deriving from Group ac�vi�es, either by direct contact with the business func�ons concerned or via the digital channels made available by the Group.

This commitment not only enhances transparency and trust in the business, but also contributes to corporate accountability and sustainability. In par�cular, no form of retalia�on is tolerated and, as a result, all customers and end-users can feel safe when repor�ng doubts or issues. This fosters an environment in which they can express concerns freely, without fear of adverse consequences.

Any concerns or complaints can be reported to contact points at each Group company, including their sales and IT personnel, who are required to take remedial ac�on to prevent, mi�gate, and remediate nega�ve impacts.

The corporate and control bodies of the Group companies concerned are informed promptly about developments and the remedial measures adopted. Depending on the severity of the impacts, the responsible bodies within the Parent Company may be involved, as well as the Board of Directors.

During the reference period for this report, no complaints or concerns about events that caused nega�ve impacts were reported by value chain workers or en��es. The Interpump "Whistleblowing Procedure" described in Chapter ESRS S1 also establishes procedures for submi�ng and processing

reports concerning any alleged infringements, misconduct, or concerns iden�fied by value chain workers. During the reference period for this report, no reports were received via the available channel about alleged irregulari�es or unlawful ac�vi�es.

To ensure that end-users are aware of the channels available to raise their concerns, all Group companies publish the "Whistleblowing Procedure" on their websites, thus ensuring greater visibility for and access to this informa�on. In order to protect the end-users who use these channels to raise their concerns, Interpump has implemented non-retalia�on policies that prohibit any form of retalia�on against those who report concerns or use the remedia�on processes. The above policies ensure that all reports are processed confiden�ally to protect the iden��es of the reporters.

S4-4 - Taking ac�on on material impacts on customers and end-users, and approaches to managing material risks and pursuing material opportuni�es related to customers and end-users, and effec�veness of those ac�ons

The Interpump Group is commited to establishing clear and accessible dialog and communica�ons with all customers but, given the diversity of its product markets and sectors of applica�on, no specific cross-cu�ng ac�ons aligned with ESRS requirements are envisaged at this �me. In future, the Group will consider defining or upda�ng ac�ons in this area.

That said, the Interpump Group adopts the following prac�ces and ini�a�ves that have a posi�ve influence on customers and end-users:

• promo�on of corporate sustainability: adop�on of environmentally-friendly sustainable prac�ces that raise awareness among customers and end-users about the importance of sustainability;
• innova�on and con�nuous improvement: investment in research and development for the con�nuous innova�on and enhancement of products and services;
• protec�ons for counterparts: adop�on of flexible returns policies, product warran�es, and efficient customer services;
• customer loyalty: establishment of strong rela�ons with customers and end-users, in order to create a posi�ve ripple effect that strengthens the customer base and lowers customer acquisi�on costs.

Addi�onally, in the context of the ESG Plan, the Interpump Group has adopted Product Ecodesign Guidelines with a view to reducing the environmental impact of its ac�vi�es via the adop�on of innova�ve and sustainable solu�ons. The circular economy is based on the idea of crea�ng a virtuous system for the use of resources, encouraging the reuse, recycling, and regenera�on of materials, in order to minimize the consump�on of natural resources and reduce the produc�on of waste. In this context, ecodesign is an essen�al dimension to be addressed, and the above Guidelines represent a further step towards crea�ng a sustainable and responsible business, capable of looking to the future with a far-sighted, environmentally-respec�ul approach.

The viewpoint of end-users is a "tool" that Interpump uses to understand beter their percep�ons and expecta�ons on the topic of sustainability; in this way, the Group's ESG strategies can be adapted effec�vely and the related ac�ons monitored. On this last point, Interpump gathers opinions and sugges�ons from customers, which in turn reflect the experiences of their end-users. The analysis of product sales and usage data also provides insights into how the ac�ons taken to reach the targets set in the ESG Plan influence the conduct of both customers and end-users.

S4-5 - Targets related to managing material nega�ve impacts, advancing posi�ve impacts, and managing material risks and opportuni�es

As previously stated, given the variety of products and the specific characteris�cs of markets in which the Group operates, Interpump has not yet iden�fied targets in rela�on to this aspect. In future, the Group will consider defining targets in rela�on to end-users.

GOVERNANCE INFORMATION

ESRS G1 - Business conduct

Governance

ESRS 2 GOV-1 - The role of the administra�ve, management, and supervisory bodies

As specified in the earlier sec�on en�tled "GOV-1: "The role of the administra�ve, management, and supervisory bodies", included in the General Disclosures chapter (ESRS 2), the Board of Directors plays a central role in the corporate governance of the Interpump Group and in the defini�on of sustainability policies, including those related to business conduct.

On 28 April 2023, separa�ng certain func�ons previously assigned to the Control, Risks, and Sustainability Commitee, the Board of Directors established a Sustainability Commitee with powers to inves�gate, consult, and make recommenda�ons on ESG maters. This Commitee, comprising two independent directors and the Chief Execu�ve Officer, is responsible for developing sustainability goals, strategies, and plans for the Board to consider, as well as for monitoring their implementa�on.

All Board members bring the professionalism and skills needed for the roles assigned to them, as discussed further in the sec�on of the chapter on ESRS 2 en�tled GOV-1: "The role of the administra�ve, management, and supervisory bodies". With regard to it exper�se in the area of business conduct, the Board of Directors of Interpump Group S.p.A. possesses consolidated knowledge and experience in such areas as corporate ethics and culture, comba�ng bribery and corrup�on, and managing stakeholder rela�ons.

Management of Impacts, Risks, and Opportuni�es

ESRS 2 IRO-1 - Descrip�on of the processes to iden�fy and assess material business conduct-related impacts, risks, and opportuni�es

The methodology used to iden�fy the impacts, risks, and opportuni�es is consistent with the aspects described in the sec�on en�tled "IRO-1: Description of the process to identify and assess material impacts, risks, and opportunities", included in the chapter on General Disclosures (ESRS 2). This methodology was also applied to the analyses of maters related to business conduct, which involved understanding the opera�onal context, iden�fying their impacts, risks, and opportuni�es, and then assessing and priori�zing them. Specifically, the analysis considered the geographical areas in which the Group operates, including the geographical distribu�on of suppliers and the value chain as a whole. The results of the above analysis were also determined in light of the manufacturing nature of the principal Interpump Group companies, as well as the different business sectors in which they operate and their respec�ve organiza�onal structures.

In the process of iden�fying impacts related to business conduct, three material, poten�ally nega�ve, impacts were iden�fied, associated with three specific sub-topics: business culture, protec�on of whistleblowers and management of rela�ons with suppliers, including payment prac�ces. These poten�al impacts were only iden�fied in rela�on to direct opera�ons.

Based on the double materiality analysis carried out in accordance with the ESRS, to date no material risks or opportuni�es have been iden�fied in rela�on to disclosure requirement G1. Nevertheless, the Group plans to update this assessment periodically with reference to changes in the opera�ng and regulatory environments, while also constantly monitoring both governance and ethical maters in order to ensure �mely recogni�on of any important new elements.

As a listed issuer, the Group strives constantly to evolve and update its organiza�onal models to reflect the best interna�onal governance prac�ces. In this context, it is some�mes difficult to dis�nguish between proac�ve improvements and alignments with established sector prac�ces; accordingly, these elements are considered part of normal opera�onal diligence and, at present, do not give rise to risks or opportuni�es that exceed the materiality threshold.

G1-1 - Business conduct policies and corporate culture

The governance system defined by Interpump Group S.p.A., comprising a set of rules, policies, and organiza�onal structures, seeks to ensure effec�ve and efficient corporate governance, consistent with the characteris�cs and strategic objec�ves of the Group, while pursuing the sustainability of its ac�vi�es over the medium-long term.

The Board of Directors of Interpump Group S.p.A. has established non-nego�able principles and policies for business conduct that underpin the Group's system of corporate governance and promote a corporate culture based on the principles of transparency and integrity. These principles are shared with clients, suppliers and, more generally, with all third par�es that maintain commercial rela�ons with Group companies, regardless of their geographical loca�on.

The Interpump Group has adopted a Global Compliance Program (GCP) in order to promote a business culture founded on the principles of ethics, integrity and corporate social responsibility in the conduct of Group ac�vi�es. This program comprises a coordinated series of instruments, including the Code of Ethics, the Organiza�on, Management and Control Model pursuant to Decree 231/2001, and the guidelines on comba�ng corrup�on, occupa�onal health and safety, environmental protec�on and

human rights. These instruments are intended to ensure that employees and all those who interact with the Group, even if only occasionally or on a temporary basis, respect the values and rules of conduct adopted, while also complying with the principle of legality in the conduct of business.

In order to iden�fy, assess, and manage in a structured manner the impacts, risks, and opportuni�es associated with business conduct and culture, the Interpump Group has established the following Guidelines:

An�-corrup�on Guidelines

The An�-corrup�on Guidelines, approved by the Board of Directors of Interpump Group S.p.A. in March 2019, comprise a structured set of rules and procedures designed to eliminate the risk of corrupt conduct by employees, collaborators and all persons who, for any reason and regardless of their contractual status, work on behalf of Group companies.

The An�-corrup�on Guidelines confirm the principle of zero tolerance for all forms of corrup�on, and promote full compliance with the domes�c and interna�onal laws and standards on comba�ng corrup�on. Special aten�on is dedicated to selec�ng commercial partners, managing contracts and verifying the sa�sfac�on of ethical requirements, as well as to the governance of gi�s, hospitality and presents, ins�tu�onal rela�ons, poli�cal contribu�ons and dona�ons to chari�es. Adop�on and implementa�on of the An�-corrup�on Guidelines is mandatory for all Group companies. They bind the conduct of all employees, collaborators and, where applicable, advisors, suppliers and other third par�es, including customers, involved in Group ac�vi�es. The Group's Internal Audit, Risk & Compliance func�on is responsible for monitoring proper applica�on of the An�-corrup�on Guidelines and for planning and delivering specific training, especially to those roles most exposed to corrup�on risks, including the func�ons responsible for commercial rela�onships with customers and suppliers.

The An�-corrup�on Guidelines are published on the Group's ins�tu�onal website at the following link: htps://www.interpumpgroup.it/it/governance/documen�-societari.

Management of reports and complaints

The Interpump Group ensures that all stakeholders are able to express their concerns, sugges�ons or complaints about any poten�al or actual nega�ve impacts deriving from Group ac�vi�es, including those associated with corrup�on and the protec�on of human rights. This commitment is formalized in the Code of Ethics and reiterated in the Global Compliance Program. Events with a nega�ve impact atributable, directly or indirectly, to the ac�vi�es of the Group may be reported to the competent contact points in the companies involved, who are obliged to ini�ate promptly the remedial ac�ons considered necessary or appropriate to prevent, mi�gate and make good the adverse consequences reported. The corporate and control bodies of the companies concerned must be informed promptly by the contact points about developments and the measures adopted. Depending on the severity of the impacts, the responsible bodies and the Board of Directors of Interpump Group S.p.A. must be involved.

Whistleblowing Procedure

The Interpump Group has defined clear, structured procedures for managing reports about alleged irregulari�es, viola�ons or non-compliant business conduct, as detailed in the Whistleblowing Procedure. This procedure governs the repor�ng process, giving the whistleblower clear, precise instruc�ons about the purpose of reports, their content and their recipients, as well as about how to submit them. The confiden�ality of the iden�ty of the reporter is guaranteed from the moment the report is received, together with an absolute ban, in compliance with current regula�ons, on any form of direct or indirect reprisals and/or discrimina�on. The procedure also governs how to check the truth of the reports, so that the necessary correc�ve and disciplinary ac�ons are taken on a �mely basis.

Reports may be submited to the Report Managers via three preferen�al channels - web pla�orm, dedicated telephone contact, or regular mail - in addi�on, if desired, to verbal communica�on. The Report Managers evaluate every report received, checking the basis for their jus�fica�on and the need for any further inves�ga�on. Without prejudice to the requirement to report significant events, the Report Managers guarantee to provide, each year or more frequently, a flow of summary informa�on to top management and the Board of Directors. The Interpump Group does not tolerate reprisals or discrimina�on of any kind against the whistleblower. Such behavior comprises conduct, acts, or omissions, even if only threatened, associated with the report that could cause unjust harm. The above protec�ons apply not only during the working rela�onship, but also during the selec�on process or other pre-contractual phases, during the proba�onary period, and even a�er termina�on of the rela�onship, if the informa�on about the viola�ons was obtained in those contexts.

Interpump Group employees and collaborators are informed and trained to respect the rules contained in the An�-Corrup�on Guidelines, as well as on how to manage reports. Each Group company is responsible for dissemina�ng the relevant informa�on and fortraining its employees and collaborators. The "Whistleblowing Procedure" is available on the corporate intranet, posted on internal no�ceboards, and distributed to all employees. In addi�on, the whistleblowing channels and the contact details of the Report Managers are available on the corporate websites. The Group Internal Audit, Risk & Compliance func�on, in collabora�on with the Supervisory Bodies established pursuant to Decree 231/2001, organizes training sessions on the principles and measures contained in the "Whistleblowing Procedure", as part of the training delivered on the 231 Model.

As part of the ac�ons planned for the next three years, Group expects to equip all Italian companies with an Organiza�on, Management, and Control Model pursuant to Decree 231/2001, in order to strengthen the culture of ethics and legality. The stakeholders were not involved in the defini�on of this objec�ve, since it represents an area that involves all stakeholder categories.

Given that the Group has not yet defined a �meline for addressing material sustainability maters, the goal described above is not fully aligned with ESRS requirements. The Internal Audit, Risk & Compliance func�on constantly monitors the progress of the project and the effec�veness of the ac�ons taken.

G1-2 - Management of rela�onships with suppliers

The sharing of values, commitments, and responsibili�es is a prerequisite for establishing the rela�ons that the Interpump Group maintains with the suppliers of goods and services. To ensure a structured and systema�c approach to management of the supply chain, the Interpump Group has embarked on a journey focused on the con�nuous improvement and sustainable development of its suppliers, taking into account their diversity and specific opera�onal characteris�cs.

The main supply chain ini�a�ves already implemented in an ESG context include:

• upda�ng the Code of Ethics (2023) to include the principles and commitments accepted by the Interpump Group on approval of the 2023-2025 ESG Plan. The updated version of the Code of Ethics, adopted by all Group companies, places par�cular emphasis on sustainable development, the protec�on of human and workers' rights, energy efficiency, the reduc�on of environmental impacts, the training of employees, and the promo�on of transparency and corporate responsibility in the dialog with its stakeholders, including partners in the supply chain;
• Implementa�on of a structured process of supplier assessment based on their ESG maturity, as measured using a specific ques�onnaire that evaluates their prac�ces with regard to such maters as environmental protec�on, social aspects, occupa�onal health and safety, safeguarding of human and workers' rights, and the preven�on and comba�ng of corrup�on. For each topic,the score assigned to their responses contributes to determina�on of the overall ra�ng. For priority maters, certain responses may trigger specific inves�ga�ons, even including on-site audits or, in the most cri�cal cases, exclusion of the supplier from the qualifica�on process. This process has been developed first by the Group's Italian companies;
• Promo�on of the best sustainability prac�ces, helping suppliers to understand and implement the various ESG requirements, even by sharing the principles and guidelines contained in the Code of Ethics and in the policies adopted by the Interpump Group.

The Interpump Group believes that the management of supply chain risks, par�cularly those related to environmental protec�on, social and economic growth and development, as well as ethical and reputa�onal maters, is an integral part of its strategy to mi�gate poten�al supply chain disrup�ons and other issues.

To this end, Interpump Group companies adopt structured supplier qualifica�on processes to verify inter alia the ESG reliability of their counterparts. The sharing of sustainability principles and commitments, via express supplier acceptance of the Code of Ethics, is a key element of these processes, being an essen�al condi�on for commencing and maintaining the collabora�on. Also, for suppliers classified as "cri�cal", the Group applies addi�onal ESG assessment criteria prior to accep�ng offers of supply. This privileges the commitment shown by partners to achievement of the sustainability goals described in the 2023-2025 ESG Plan. The competent business func�ons carry out risk-based audits to assess the adequacy of the ESG criteria adopted with respect to the Group's targets.

The Interpump Group is commited to maintaining coopera�ve, stable rela�ons with all suppliers, regardless of their size and/or geographical loca�on. With a view to safeguarding small- and mediumsized businesses, the Interpump Group adopts payment policies intended to avoid exposing them to economic-financial tensions. In par�cular, payment terms are agreed before contracts are signed and can only be changed a�er approval by the competent business func�ons and confirma�on by the supplier.

Preliminary analyses now in progress will soon lead to the prepara�on of a supplier code of conduct promo�ng sustainability prac�ces for dissemina�on throughout the supply chain. The Group's stakeholders, par�cularly its suppliers, were not involved in the defini�on of this goal.

Given that the Group has not yet defined a �meline for addressing material sustainability maters, the goal is not fully aligned with ESRS requirements. Once the Suppliers' Code of Conduct has been implemented, the Internal Audit, Risk & Compliance Func�on will monitor its adop�on and dissemina�on by all Group companies.

Metrics and targets

G1-6 - Payment prac�ces

Within the broader context of sustainable prac�ces applicable throughout the supply chain, the Interpump Group is commited to respec�ng the payment terms agreed with suppliers. Although a specific policy for the management of delays in payments to small- and medium-sized enterprises (SMEs) has not yet been formalized, consolidated Group prac�ce - adopted systema�cally - is to make payments on the contractually-agreed terms. See the previous chapter for further informa�on about ac�ons related to these aspects.

In order to process this metric, data has been collected from the Group's largest manufacturing companies, with par�cular reference to the procurement costs directly associated with their produc�on process:

• raw materials, semi-finished and finished products;
• outsourced processing;
• tooling expenses;
• consumable materials.

In value terms, the companies included in this data collec�on process make about 28% of consolidated purchases rela�ng to these supply categories (24% in 2024). In future, the Group expects to expand further the scope of this analysis, in order to make the results even more representa�ve, while also ensuring greater consistency in the data provided by the various Group companies, given that they o�en have different management systems and opera�onal specifics.

Since the sample is weighted by purchase invoice amount, the values reported in the table therefore reflect the most significant standard and actual payment terms in terms of economic value. No other adjustments were made in order to determine the consolidated averages for the Group.

Payment practices	Standard payment terms (average days)			Average payment time (days)		% payments made on standard terms		% payments not made on standard terms
	2025	2024	2025	2024	2025	2024	2025	2024
Micro	68	83	69	84	72%	78%	28%	22%
Small	67	82	68	81	76%	83%	24%	17%
Medium	63	91	64	88	75%	83%	25%	17%
Large	67	79	68	76	75%	62%	25%	38%
Total	66	84	67	82	75%	78%	25%	22%

The data shown in the table reflects opera�ons carried out in mul�ple interna�onal jurisdic�ons. Accordingly, the payment and commercial prac�ces adopted are influenced by specific regula�ons and customs in the various countries in which the Group operates; these differences can give rise to considerable variability in the average contractual terms found in different geographical areas.

Compared with 2024, the scope of the reference sample has changed due to the inclusion of new companies with different payment prac�ces. This has affected the comparability of average payment �mes between the two years concerned. An analysis of these two years has established that the difference between actual and standard terms is stable. This marginal gap is o�en atributable to technical or logis�cal factors, such as na�onal holidays or reasons of an administra�ve nature that are not always directly controllable by the Group.

Despite this difference, an overall analysis confirms that the Group strives to respect rigorously the commitments made to its supply chain. This approach is consistent with the Group's strategic vision, which sees suppliers as a fundamental driver in the process of crea�ng long-term value. In fact, the maintenance of fair, transparent and precise rela�ons underpins the opera�onal sustainability and resilience of the Group's business as a whole.

An analysis at consolidated level of average setlement �mes for trade payables shows no substan�al differences in the payment procedures applied to the various categories of supplier (micro, small, medium and large); this consistency reflects the Group's commitment to guarantee fair and equal treatment, recognizing the strategic role and opera�onal importance of SMEs, in par�cular, within the value chain.

In 2025, no legal ac�on was taken by suppliers against Group companies due to payment delays.

Sant'Ilario d'Enza (RE), 20 March 2026

For the Board of Directors

Fulvio Mon�pò

Executive Chairman

A. REPORT ON OPERATIONS FOR 2025

B. CONSOLIDATED FINANCIAL STATEMENTS

1. CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

ASSETS
€/000	Notes	31/12/2025	31/12/2024
Current assets
Cash and cash equivalents	2.6.1	415,704	392,637
Trade receivables	2.6.2	397,253	385,963
Inventories	2.6.3	678,984	700,614
Tax receivables	2.6.4	41,208	56,381
Other current assets	2.6.4	28,182	34,647
Total current assets		1,561,331	1,570,242
Non-current assets
Property, plant and equipment	2.6.5	844,608	853,747
Goodwill	2.6.6	865,841	837,798
Other intangible fixed assets	2.6.7	74,060	76,896
Other financial assets	2.6.8	5,539	3,948
Tax receivables		2,963	2,635
Deferred tax assets	2.6.9	41,612	43,640
Other non-current assets		2,684	2,866
Total non-current assets		1,837,307	1,821,530
Assets held for sale	2.6.10	-	-
Total assets		3,398,638	3,391,772

LIABILITIES AND SHAREHOLDERS' EQUITY
€/000	Notes	31/12/2025	31/12/2024
Current liabilities
Trade payables	2.6.12	233,564	237,371
Bank debts	2.6.11	33,688	33,236
Interest-bearing financial debts (current portion)	2.6.11	232,031	241,919
Tax liabilities	2.6.12	36,447	28,360
Other current liabilities	2.6.12	158,278	148,792
Provisions for risks and charges	2.6.13	8,862	8,858
Total current liabilities		702,870	698,536
Non-current liabilities
Interest-bearing financial debts	2.6.11	441,084	526,526
Liabilities for employee benefits	2.6.14	21,995	21,292
Deferred tax liabilities	2.6.9	31,968	32,753
Tax liabilities		120	164
Other non-current liabilities	2.6.15	77,640	80,028
Provisions for risks and charges	2.6.13	12,860	13,136
Total non-current liabilities		585,667	673,899
Total liabilities		1,288,537	1,372,435
SHAREHOLDERS' EQUITY
Share capital	2.6.16	55,320	55,505
Legal reserve	2.6.17	11,323	11,323
Share premium reserve	2.6.17	37,673	42,564
Remeasurement reserve for defined benefit plans	2.6.17	(5,241)	(5,923)
Translation reserve	2.6.17	(40,217)	38,108
Other reserves	2.6.17	2,039,750	1,866,775
Group shareholders' equity		2,098,608	2,008,352
Non-controlling interests	2.6.18	11,493	10,985
Total shareholders' equity		2,110,101	2,019,337
Total shareholders' equity and liabilities		3,398,638	3,391,772

CONSOLIDATED INCOME STATEMENT

€/000	Notes	31/12/2025	31/12/2024
Revenues	2.7.1	2,070,684	2,078,399
Cost of sales	2.7.2	(1,339,909)	(1,364,753)
Gross profit		730,775	713,646
Other net revenues	2.7.1	41,871	36,714
Distribution expenses	2.7.2	(185,174)	(173,890)
General and administrative expenses	2.7.2	(241,005)	(227,118)
Other operating costs	2.7.2	(9,903)	(11,538)
EBIT		336,564	337,814
Financial income	2.7.4	27,271	35,296
Financial expenses	2.7.4	(65,326)	(62,380)
Equity method		339	302
contribution
Profit for the year before taxes		298,848	311,032
Income taxes	2.7.5	(89,139)	(82,562)
Consolidated profit for the year		209,709	228,470
Attributable to:
Shareholders of Parent		208,122	227,051
Minority shareholders of subsidiaries		1,587	1,419
Consolidated profit for the year		209,709	228,470
Basic earnings per share	2.8	1.955	2.124
Diluted earnings per share	2.8	1.950	2.120

COMPREHENSIVE CONSOLIDATED INCOME STATEMENT

€/000	Notes	2025	2024
Consolidated profit for the year (A)		209,709	228,470
Gains (losses) on translating the financial statements of foreign companies		(78,378)	26,317
Gains (losses) from companies accounted for using the equity method		(141)	(132)
Applicable taxes		-	-
Total other comprehensive income (loss) which will subsequently be reclassified to consolidated profit, net of tax effect (B)	2.6.17	(78,519)	26,185
Other comprehensive income (loss) which will not subsequently be reclassified to consolidated profit
Gains (losses) deriving from the remeasurement of defined benefit plans		900	(1)
Applicable taxes		(216)	-
Total other comprehensive income (loss) which will not subsequently be reclassified to consolidated profit, net of tax effect (B)	2.6.17	684	(1)
Consolidated comprehensive profit for the year (A) + (B) + (C)		131,874	254,654
Attributable to:
Shareholders of Parent		130,479	253,308
Minority shareholders of subsidiaries		1,395	1,346
Comprehensive consolidated profit for the year		131,874	254,654

CONSOLIDATED CASH FLOW STATEMENT

€/000	Notes	2025	2024
Cash flows from operating activities
Profit before taxes		298,848	311,032
Adjustments for non-cash items:
Losses (gains) on the sale of fixed assets		(6,074)	(5,582)
Amortization and depreciation	2.7.2	121,250	113,870
Costs recognized in the income statement relative to stock options that do not involve monetary outflows for the Group	2.7.2	6,764	5,262
Losses (profits) from equity investments		(339)	(302)
Net change in risk provisions and allocations to employee benefit provisions	2.6.13, 2.6.14	(2,860)	(2,260)
Expenditures for tangible fixed assets to be leased	2.6.5	(13,563)	(11,250)
Proceeds from the disposal of leased tangible fixed assets	2.6.5	9,993	10,967
Net financial expenses (income)	2.7.4	38,055	27,084
Other		296	(26)
		452,370	448,795
(Increase) decrease in trade receivables and other current assets	2.6.2, 2.6.4	(7,222)	44,108
(Increase) decrease in inventories	2.6.3	(694)	21,406
Increase (decrease) in trade payables and other current liabilities	2.6.12	(5,580)	(15,634)
Interest paid	2.7.4	(29,746)	(41,881)
Realized exchange differences	2.7.4	(4,007)	3,902
Taxes paid	2.7.5	(71,168)	(103,618)
Net cash from operating activities		333,953	357,078
Cash flows from investing activities
Payments for the purchase of investments, net of cash received and excluding treasury shares granted		(38,465)	(89,211)
Capital expenditure on property, plant and equipment	2.6.5	(91,774)	(129,186)
Proceeds from the sale of tangible fixed assets	2.6.5	2,686	2,980
Increase in intangible fixed assets	2.6.7	(9,664)	(9,044)
Financial income received	2.7.4	6,831	7,435
Other		778	1,459
Net cash (used in) investing activities		(129,608)	(215,567)

B. CONSOLIDATED FINANCIAL STATEMENTS

€/000	Notes	2025	2024
Cash flows from financing activities
Disbursals (repayments) of loans	2.6.11	(102,949)	925
Dividends paid	2.6.17	(36,198)	(34,986)
Disbursements for purchase of treasury shares		(16,594)	(10,337)
Proceeds from the sale of treasury shares to stock option beneficiaries	2.6.16	4,754	581
Disbursements (repayments) of shareholder loans		-	(567)
Loans granted to (repayments from) non consolidated subsidiaries		(241)	-
Change in other financial assets		(349)	(526)
Payment of finance lease installments (principal)	2.6.11	(20,375)	(19,749)
Net cash generated by (used in) financing activities		(171,952)	(64,659)
Net increase (decrease) in cash and cash equivalents		32,393	76,852
Exchange differences on translating the liquidity of foreign companies		(9,778)	535
Opening cash and equivalents of companies consolidated for the first time using the line-by line method		-	-
Cash and cash equivalents at the beginning of the year	2.10	359,401	282,014
Cash and cash equivalents at the end of the year	2.10	382,016	359,401

See Note 2.10.2 for the reconcilia�on of cash and cash equivalents.

CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY

€/000	Share capital	Legal reserve	Share premium reserve	Remeasurement reserve for defined benefit plans	Translation reserve	Other reserves	Group shareholders' equity	Non controlling interests	Total shareholders' equity
At 1 January 2024	55,625	11,323	46,938	(5,922)	11,850	1,673,764	1,793,578	9,326	1,802,904
Recognition in the income statement of the fair value of stock options	-	-	5,262	-	-	-	5,262	-	5,262
Purchase of treasury shares	(130)	-	(10,207)	-	-	-	(10,337)	-	(10,337)
Sale of treasury shares to stock option beneficiaries	10	-	571	-	-	-	581	-	581
Purchase of residual interests in subsidiaries	-	-	-	-	-	191	191	1,090	1,281
Dividends paid	-	-	-	-	-	(34,231)	(34,231)	(777)	(35,008)
Comprehensive profit (loss) for 2024	-	-	-	(1)	26,258	227,051	253,308	1,346	254,654
At 31 December 2024	55,505	11,323	42,564	(5,923)	38,108	1,866,775	2,008,352	10,985	2,019,337
Recognition in the income statement of the fair value of stock options	-	-	6,764	-	-	-	6,764	-	6,764
Purchase of treasury shares	(260)	-	(16,334)	-	-	-	(16,594)	-	(16,594)
Sale of treasury shares to stock option beneficiaries	75	-	4,679	-	-	-	4,754	-	4,754
Change in consolidation perimeter	-	-	-	-	-	-	-	167	167
Purchase of residual interests in subsidiaries	-	-	-	-	-	-	-	(3)	(3)
Dividends paid	-	-	-	-	-	(35,147)	(35,147)	(1,051)	(36,198)
Comprehensive profit (loss) for 2025	-	-	-	682	(78,325)	208,122	130,479	1,395	131,874
At 31 December 2025	55,320	11,323	37,673	(5,241)	(40,217)	2,039,750	2,098,608	11,493	2,110,101

2. EXPLANATORY NOTES

2.1 General informa�on

Interpump Group S.p.A. is an Italian company domiciled in Sant'Ilario d'Enza (RE). The company is listed on the Milan stock exchange in the Euronext Star Milan segment.

The Group manufactures and markets high and very high pressure plunger pumps, very high pressure systems, machines for the food processing industry, chemicals, cosme�cs, pharmaceu�cals, mechanical si�ers and automated milking systems (Water-Je�ng sector), power take-offs, gear pumps, hydraulic cylinders, direc�onal controls, valves, gears and dispersion devices, hydraulic hoses and fi�ngs, orbital motors, steering systems (hydroguide) and other hydraulic components (Hydraulic sector). The Group has produc�on facili�es in Italy, the US, Germany, China, India, France, Portugal, Spain, Brazil, Poland, Bulgaria, Romania, Canada, New Zealand and South Korea.

The consolidated financial statements include Interpump Group S.p.A. and its directly or indirectly controlled subsidiaries (hereina�er "the Group").

This consolidated Annual Financial Report at 31 December 2025, prepared on a going concern basis, was approved at the mee�ng of the Board of Directors held on 20 March 2026 (today).

2.2 Consolida�on perimeter

The 2025 consolida�on perimeter includes the Parent Company and the following subsidiaries consolidated on a line-by-line basis (with the informa�on required on the basis of Consob communica�on DEM/6064293 of 28/07/2006):

Company	Location	Share capital €/000	Sector	Percentage held at 31/12/2025
Alfa Valvole S.r.l.	Casorezzo (MI)	1,560	Water Jetting	100.00%
Alfa OBL America Inc. (2)	Austin (USA)	88	Water Jetting	85.00%
GP Companies Inc.	Minneapolis (USA)	1,854	Water Jetting	100.00%
Hammelmann Australia Pty Ltd (1)	Melbourne (Australia)	472	Water Jetting	100.00%
Hammelmann Corporation Inc (1)	Miamisburg (USA)	39	Water Jetting	100.00%
Hammelmann France S.a.r.l. (1)	Etrichè (France)	50	Water Jetting	100.00%
Hammelmann GmbH	Oelde (Germany)	25	Water Jetting	100.00%
Hammelmann Endüstri Pompalari A.Ş. (1)	Istanbul (Türkiye)	75	Water Jetting	100.00%
Hammelmann Pumps Systems Co Ltd (1)	Tianjin (China)	871	Water Jetting	90.00%
Hammelmann S. L. (1)	Zaragoza (Spain)	500	Water Jetting	100.00%
Hammelmann Swiss GmbH (1)	Dudingen (Switzerland)	89	Water Jetting	100.00%

Company	Location	Share capital €/000	Sector	Percentage held at 31/12/2025
Hi-Tech Enviro Solution Limited (NZ) (dormant) (17)	Auckland (New Zealand)	-	Water Jetting	100.00%
I.mec S.r.l.	Reggio Emilia	100	Water Jetting	70.00%
Improved Solutions Portugal Unipessoal Ltda (Portugal) (3)	Vale de Cambra (Portugal)	760	Water Jetting	100.00%
Inoxihp S.r.l.	Nova Milanese (MI)	119	Water Jetting	52.72%
Inoxpa (UK) Ltd (3)	Eastbourne (UK)	1,942	Water Jetting	100.00%
Inoxpa Colombia SAS (3)	Bogotá (Colombia)	133	Water Jetting	100.00%
Shanghai PuPeng Flow Technology Co. Ltd. (3)	Shanghai (China)	1,170	Water Jetting	60.00%
Inoxpa China Flow Technology Co. Ltd. (3)	Shanghai (China)	1,536	Water Jetting	60.00%
Inoxpa India Private Ltd (3)	Pune (India)	6,779	Water Jetting	100.00%
Inoxpa Italia S.r.l. (3)	Mirano (VE)	100	Water Jetting	100.00%
INOXPA LTD (Russia) (3)	Podolsk (Russia)	1,435	Water Jetting	70.00%
Inoxpa Mexico S.A. de C.V. (3)	Mexico City (Mexico)	309	Water Jetting	100.00%
Inoxpa S.A.U.	Banyoles (Spain)	23,000	Water Jetting	100.00%
Inoxpa Skandinavien A/S (3)	Erritsø (Denmark)	134	Water Jetting	100.00%
Inoxpa France SaS (3)	Chambly (France)	2,071	Water Jetting	100.00%
Inoxpa Solutions Moldova (3)	Chisinau (Moldova)	317	Water Jetting	66.67%
Inoxpa South Africa Proprietary Ltd (3)	Gauteng (South Africa)	104	Water Jetting	100.00%
Inoxpa Special Processing Equipment Co. Ltd (3)	Jianxing (China)	1,647	Water Jetting	100.00%
Inoxpa Ukraine (3)	Kiev (Ukraine)	113	Water Jetting	100.00%
Inoxpa USA Inc. (3)	Santa Rosa (USA)	1,426	Water Jetting	100.00%
NLB Corporation Inc.	Detroit (USA)	12	Water Jetting	100.00%
Pioli S.r.l.	Reggio Emilia (RE)	10	Water Jetting	100.00%
Servizi Industriali S.r.l.	Ozzano Emilia (BO)	100	Water Jetting	90.00%
SIT S.p.A.	S.Ilario d'Enza (RE)	105	Water Jetting	88.00%
Waikato Milking Systems Limited	Hamilton (New Zealand)	27,591	Water Jetting	100.00%
Waikato Milking Systems Ireland Limited (17)	Dublin (Ireland)	1	Water Jetting	100.00%
Waikato Milking Systems L.P. (NZ) (17)	Auckland (New Zealand)	46,803	Water Jetting	100.00%
Waikato Milking Systems Lease Limited (NZ) (17)	Auckland (New Zealand)	-	Water Jetting	100.00%

B. CONSOLIDATED FINANCIAL STATEMENTS

Company	Location	Share capital	Sector	Percentage held at
		€/000		31/12/2025
Waikato Milking Systems UK Limited (17)	Shrewsbury (United Kingdom)	-	Water Jetting	100.00%
Waikato Milking Systems USA LLC (18)	Verona (USA)	-	Water Jetting	100.00%
WMS GP Limited (NZ) (17) (dormant)	Hamilton (New Zealand)	-	Water Jetting	100.00%
AllTube Engineering Ltd (dormant) (6)	Daventry (United Kingdom)	351	Hydraulic	100.00%
Bristol Hose Ltd (dormant) (6)	Bristol (United Kingdom)	-	Hydraulic	100.00%
Borghi Assali S.r.l. (12)	Bomporto (MO)	100	Hydraulic	70.00%
Contarini Leopoldo S.r.l. (4)	Lugo (RA)	47	Hydraulic	100.00%
Copa Hydrosystem Ood (5)	Troyan (Bulgaria)	3	Hydraulic	100.00%
Eurofluid Hydraulic S.r.l. (4)	Albinea (RE)	100	Hydraulic	80.00%
FGA S.r.l. (8)	Fossacesia (CH)	10	Hydraulic	100.00%
F.A.R.M.A. S.r.l. (4)	Fossatone di Medicina (BO)	2,022	Hydraulic	100.00%
F.A.R.M.A. USA Inc. (21)	Birmingham - USA	43	Hydraulic	100.00%
GS Hydro Denmark AS (10)	Kolding (Denmark)	67	Hydraulic	100.00%
GS- Hydro UK Ltd (10)	Aberdeen (United Kingdom)	5,095	Hydraulic	100.00%
GS-Hydro Ab (Sweden) (10)	Kista (Sweden)	120	Hydraulic	100.00%
GS-Hydro Austria GmbH (10)	Pashing (Austria)	40	Hydraulic	100.00%
GS-Hydro Benelux B.V. (10)	Hendrik Ido Ambacht (Netherlands)		Hydraulic	100.00%
GS-Hydro do Brasil Sistemas Hidráulicos Ltda (10)	Rio de Janeiro (Brazil)	252	Hydraulic	100.00%
GS-Hydro Hong Kong Ltd (1)	Hong Kong	1	Hydraulic	100.00%
GS-Hydro Korea Ltd. (10)	Busan (South Korea)	1,892	Hydraulic	100.00%
GS-Hydro Piping Systems (Shanghai) Co. Ltd. (11)	Shanghai (China)	2,760	Hydraulic	100.00%
GS-Hydro S.A.U (Spain) (10)	Las Rozas (Spain)	90	Hydraulic	100.00%
GS-Hydro Singapore Pte Ltd (10)	Singapore	624	Hydraulic	100.00%
GS-Hydro Sp. z o.o. (Poland) (10)	Gdynia (Poland)	1,095	Hydraulic	100.00%
GS-Hydro System GmbH (Germany) (10) (dormant)	Witten (Germany)	179	Hydraulic	100.00%
GS-Hydro U.S. Inc. (7)	Houston (USA)	9,903	Hydraulic	100.00%
Hangzhou Interpump Power Transmissions Co. Ltd (13)	Hangzhou (China)	575	Hydraulic	100.00%
H.S. S.r.l. (19)	Sulbiate (MB)	99	Hydraulic	100.00%
Hidrover Equipamentos Hidráulicos Ltda. (15)	Flores da Cunha (Brazil)	10,107	Hydraulic	59.00%
Hydra Dyne Tech Inc (7)	Ingersoll (Canada)	80	Hydraulic	89.99%
Hydrocar Chile S.A. (4)	Santiago (Chile)	129	Hydraulic	90.00%
Hydroven S.r.l. (4)	Tezze sul Brenta (VI)	200	Hydraulic	100.00%
IFS France S.a.r.l. (8)	Strasbourg (France) 162		Hydraulic	100.00%
IMM Hydraulics Ltd (dormant) (6)	Kidderminster (United Kingdom)	-	Hydraulic	100.00%
IMM Hydraulics S.p.A. (4)	Atessa (Switzerland)	520	Hydraulic	100.00%
IMM Hydro Est (8)	Catcau Cluj Napoca (Romania)	3,155	Hydraulic	100.00%
Interpump Fluid Solutions Germany GmbH (8)	Meinerzhagen (Germany)	52	Hydraulic	100.00%
Interpump Hydraulics (UK) Ltd. (4)	Kidderminster (United Kingdom)	13	Hydraulic	100.00%
Interpump Hydraulics Brasil Ltda (4)	Caxias do Sul (Brazil)	15,126	Hydraulic	100.00%
Interpump Hydraulics France S.a.r.l. (4)	Ennery (France)	76	Hydraulic	100.00%

emarket sdir storage
CERTIFIED

Company	Location	Share capital €/000	Sector	Percentage held at 31/12/2025
Interpump Hydraulics India Private Ltd (4)	Hosur (India)	682	Hydraulic	100.00%
Interpump Hydraulics Middle East FZE (4) (dormant)	Dubai (UAE)	1,226	Hydraulic	100.00%
Interpump Hydraulics S.p.A.	Sala Bolognese (BO)	2,632	Hydraulic	100.00%
Interpump Piping GS S.r.l.	Reggio Emilia	10	Hydraulic	100.00%
Interpump South Africa Pty Ltd (4)	Johannesburg (South Africa)	-	Hydraulic	100.00%
IPG Mouldtech India Pvt Ltd	Coimbatore (India)	298	Hydraulic	85.00%
MA Transtecno S.A.P.I. de C.V. (13)	Apodaca (Mexico)	124	Hydraulic	70.00%
Mega Pacific NZ Pty Ltd (6)	Mount Maunganui (New Zealand)	557	Hydraulic	100.00%
Mega Pacific Pty Ltd (6)	Newcastle (Australia)	335	Hydraulic	100.00%
Muncie Power Prod. Inc. (4)	Muncie (USA)	784	Hydraulic	100.00%
Oleodinamica Panni S.r.l. (4)	Tezze sul Brenta (VI)	2,000	Hydraulic	100.00%
Reggiana Riduttori S.r.l.	S.Polo d'Enza (RE)	6,000	Hydraulic	100.00%
RR Canada Inc. (12)	Vaughan (Canada)	1	Hydraulic	100.00%
RR France S.a.r.l. (12)	Thouare sur Loire (France)	400	Hydraulic	95.00%
RR Holland BV (12)	Oosterhout (Netherlands)	19	Hydraulic	100.00%
RR Pacific Pty Ltd (12)	Victoria (Australia)	249	Hydraulic	100.00%
RR Slovakia A.S. (12)	Zvolen (Slovakia)	340	Hydraulic	100.00%
RR USA Inc. (12)	Boothwyn (USA)	1	Hydraulic	100.00%
Padoan Srl (4)	Olmi di S. Biagio di Callalta (TV)	100	Hydraulic	65.00%
Padoan Swiss SA (20)	San Vittore (Switzerland)	107	Hydraulic	100.00%
Padoan Deutschland GmbH (20)	Mönchengladbach (Germany)	100	Hydraulic	70.00%
Padoan Chile Ltda (dormant) (20)	Santiago (Chile)	32	Hydraulic	100.00%
Suministros Franquesa S.A. (16)	Lleida (Spain)	160	Hydraulic	100.00%
Tekno Tubi S.r.l. (8)	Terre del Reno (FE)	100	Hydraulic	100.00%
Transtecno Aandrijftechniek (Netherlands) (14)	Amersfoort (Netherlands)	-	Hydraulic	51.00%
Tutto Hidráulicos Ltda (22)	Caxias do Sul - Brazil	2,529	Hydraulic	100.00%
Transtecno BV (13)	Amersfoort (Netherlands)	18	Hydraulic	51.00%
Transtecno Iberica the Modular Gearmotor S.A. (13)	Gava (Spain)	203	Hydraulic	70.00%
Transtecno S.r.l.	Anzola dell'Emilia (BO)	100	Hydraulic	100.00%
Tubiflex S.p.A.	Orbassano (TO)	515	Hydraulic	100.00%
Unidro Contarini S.a.s. (5)	Barby (France)	8	Hydraulic	100.00%
Walvoil Canada Inc. (9)	Terrebonne, Quebec (Canada)	76	Hydraulic	100.00%
Walvoil Fluid Power (Dongguan) Co., Ltd (9)	Dongguan (China)	3,720	Hydraulic	100.00%
Walvoil Fluid Power (India) Pvt. Ltd. (9)	Bangalore (India)	4,803	Hydraulic	100.00%
Walvoil Fluid Power Australasia (9)	Melbourne (Australia)	7	Hydraulic	100.00%
Walvoil Fluid Power Corp. (9)	Tulsa (USA)	137	Hydraulic	100.00%
Walvoil Fluid Power France S.a.r.l. (9)	Vritz (France)	10	Hydraulic	100.00%
Walvoil Fluid Power Korea Llc. (9)	Pyeongtaek (South Korea)	453	Hydraulic	100.00%
Walvoil S.p.A.	Reggio Emilia	7,692	Hydraulic	100.00%
White Drive Motors and Steering Sp. z o.o.	Wroclaw (Poland)	33,254	Hydraulic	100.00%
White Drive Motors and Steering GmbH (dormant)	Parchim (Germany)	25	Hydraulic	100.00%
White Drive Motors and Steering, LLC	Hopkinsville (USA)	86,070	Hydraulic	100.00%

B. CONSOLIDATED FINANCIAL STATEMENTS

Company	Location	Share capital €/000	Sector	Percentage held at 31/12/2025
Wuxi Interpump Weifu Hydraulics Company Ltd (4)	Wuxi (China)	2,095	Hydraulic	65.00%
(1) = controlled by Hammelmann GmbH	(13) = controlled by Transtecno S.r.l.
(2) = controlled by Alfa Valvole S.r.l.	(14) = controlled by Transtecno B.V.
(3) = controlled by Inoxpa Group S.A.	(15) = controlled by Interpump Hydraulics Brasil Ltda
(4) = controlled by Interpump Hydraulics S.p.A.	(16) = controlled by GS Hydro S.A.U
(5) = controlled by Contarini Leopoldo S.r.l.	(17) = controlled by Waikato Milking Systems Limited
(6) = controlled by Interpump Hydraulics (UK) Ltd.	(18) = controlled by Waikato Milking Systems Lease LTD
(7) = controlled by Muncie Power Prod. Inc.	(19) = controlled by Inoxihp S.r.l.
(8) = controlled by IMM Hydraulics S.p.A.	(20) = controlled by Padoan S.r.l.
(9) = controlled by Walvoil S.p.A.	(21) = controlled by F.A.R.M.A. S.r.l.
(10) = controlled by Interpump Piping GS S.r.l.	(22) = controlled by Hidrover Equipmentos Hidráulicos Ltda
(11) = controlled by GS Hydro Hong Kong Ltd

The other companies are controlled by Interpump Group S.p.A.

(12) = controlled by Reggiana Riduttori S.r.l.

Compared with 2024, in 2025 the consolida�on perimeter of the Hydraulic sector changed as follows:

• North American Manufacturing Inc. was absorbed by Muncie Inc. with effect from 1 January 2025;
• Innovativ Gummi Tech Srl was absorbed by I.M.M. Hydraulics Spa with effect from 1 January 2025;
• Interpump Hydraulics Middle East FZE was put into liquidation on 14 April 2025;
• During Q2 2025 the Group acquired the final 0.23% minority interest in Interpump Hydraulics France S.a.r.L and now holds the entire equity interest in that company;
• The Padoan group, acquired during the year through its subsidiary Interpump Hydraulics Spa, has been consolidated with effect from 1 July 2025;
• Tutto Hidráulicos Ltda, acquired during the year through its subsidiary Hidrover Ltda, has been consolidated with effect from 1 November 2025;
• Borghi Assali S.r.l., acquired during the year through its subsidiary Reggiana Riduttori Srl, has also been consolidated with effect from 1 November 2025;
• The F.A.R.M.A. group, acquired during the year through its subsidiary Interpump Hydraulics Spa, has been consolidated with effect from 31 December 2025. The balance sheet of the group has been consolidated at year end, while the economic effects of the acquisition will be recognized with effect from 1 January 2026;
• Lastly, the liquidation of RR India Pvt.Ltd. was completed during Q4 2025.

Additionally, the consolidation perimeter of the Water-Jetting sector has changed as follows:

• Hammelmann Endüstri Pompalari A.Ş., a newly-formed company, was consolidated for the first time from 1 January 2025;
• Alfa OBL America Inc., a newly-formed company, was consolidated for the first time from 1 May 2025;
• During Q2 2025, the Group acquired Nuova S.M. S.r.l. which has been consolidated using the equity method from June 2025;
• During Q2 2025 the Group exercised the option to purchase 10% of Servizi Industriali S.r.l. from the minority quotaholders, raising the percentage ownership from 80% to 90%;

• Lastly, following a reorganization within the Waikato group, the business activities of Waikato Milking Systems LP were transferred to Waikato Milking System Limited (previously known as "Waikato Holding Limited") with effect from 31 December 2025.

Alltube Engineering Ltd was consolidated in the Hydraulic sector for the whole of 2025, having been consolidated for 8 months in 2024, as were H.S. S.r.l., which was consolidated for 6 months in 2024, and Hidrover Equipamentos Hidráulicos Ltda, which was consolidated for 1 month in 2024.

Lastly, Shanghai PuPeng Flow Technology Co. Ltd and Inoxpa China Flow Technology Co. Ltd were consolidated in the Water-Je�ng sector for the whole of 2025, having each been consolidated for 9 months in 2024, as was Alfa Valvole S.r.l., which was consolidated for 7 months in 2024.

2.2.1 Rights of minori�es to dispose of their holdings (put op�ons)

The minority quotaholder of Inoxihp S.r.l. is en�tled to dispose of its holdings star�ng from the approval of the 2025 financial statements up to the 2035 financial statements, on the basis of the average results of the company in the last two financial statements for the years ended before the exercise of the op�on.

The minority shareholder of Inoxpa Solu�on Moldova is en�tled to dispose of its holdings from October 2020, based on the most recent statement of financial posi�on of that company.

2.2.2 Rights and obliga�ons of minori�es to dispose of their holdings (put & call op�ons)

The minority shareholder of Hydra Dyne has the right and obliga�on to dispose of its holdings star�ng from approval of the 2028 financial statements based on the average of the results for the two years prior to exercise of the op�on.

The minority quotaholder of Eurofluid Hydraulic S.r.l. has the right and obliga�on to dispose of its holdings on the approval date of the financial statements at 31 December 2025. The price of this op�on has been fixed by contractual agreement.

The minority shareholder of IPG Mouldtech India Pvt Ltd has the right and obliga�on to dispose of its holdings by 30 June 2027, based on the results for the financial year prior to exercise of the op�on.

The minority quotaholder of I.mec S.r.l. has the right and obliga�on to dispose of its holdings in two tranches, the first star�ng sixty days a�er approval of the 2025 financial statements, and the second star�ng from approval of the 2027 financial statements.

The minority shareholders of Hidrover Equipamentos Hidráulicos Ltda have the right and obliga�on to dispose of their residual 41% equity interest in four tranches, based on the results for the financial year prior to exercise of the op�on. The first two tranches, corresponding to a 16% interest, will be exercisable following approval of the 2025 financial statements. The other two tranches, corresponding to the remaining 25% interest, will be exercisable following approval of the 2029 financial statements.

The minority quotaholder of Padoan S.r.l. has the right and obliga�on to sell the residual quotas from July 2030 and for a subsequent period of six months. The op�on exercise price will be determined with reference to the latest approved financial statements at the calcula�on date.

The minority quotaholder of Borghi Assali S.r.l. has the right and obliga�on to sell the residual quotas from May 2030 un�l 31 December of that year. The op�on exercise price for 30% of the quota capital will be determined with reference to the latest approved financial statements at the calcula�on date.

2.2.3 Obliga�ons of the Group to purchase minority holdings

Interpump Group S.p.A. is required to purchase the residual 10% interest in Servizi Industriali S.r.l., commencing from approval of its 2026 financial statements.

In compliance with the requirements of IFRS 10 and IFRS 3, Inoxihp S.r.l., Inoxpa Solu�on Moldova, Hydra Dyne Tech Inc., Servizi Industriali S.r.l., Eurofluid Hydraulic S.r.l., IPG Mouldtech India Pvt Ltd, I.mec S.r.l., Hidrover Equipamentos Hidráulicos Ltda, Padoan S.r.l. and Borghi Assali S.r.l. have been consolidated in full, recording a payable represen�ng an es�mate of the present value of the exercise price of the op�ons determined with reference to the business plans of the companies and/or on the basis of specific contractual agreements. Any changes in the above payable iden�fied within 12 months of the date of acquisi�on, as a result of addi�onal or beter informa�on, will be recorded as an adjustment of goodwill, while any changes emerging more than 12 months a�er the date of acquisi�on will be recognized in the income statement.

Equity investments in other companies, including subsidiaries, that have not been consolidated due to their insignificance are measured at fair value.

2.3 Accoun�ng policies adopted

2.3.1 Reference accoun�ng standards

The annual financial report as of 31 December 2025 has been prepared in compliance with the Interna�onal Financial Repor�ng Standards (IFRS) issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union, as well as with the enabling measures for art. 9 of Law 38 dated 28 February 2005. "IFRS" also means the Interna�onal Accoun�ng Standards ("IAS") currently in force and all the interpreta�ve documents issued by the IFRS Interpreta�on Commitee, previously denominated Interna�onal Financial Repor�ng Interpreta�ons Commitee ("IFRIC") and s�ll earlier known as the Standing Interpreta�ons Commitee ("SIC").

The consolidated financial statements are presented in thousands of euro. The financial statements are prepared using the cost method, with the excep�on of financial instruments and the obliga�ons deriving from op�ons to acquire minority interests in certain subsidiaries, which are measured at fair value.

Prepara�on of financial statements in compliance with IFRS (Interna�onal Financial Repor�ng Standards) calls for judgments, es�mates, and assump�ons that have an effect on assets, liabili�es, costs and revenues. The final results may differ from the results obtained using es�mates of this type. The cap�ons of the financial statements that call for more subjec�ve appraisal by the directors when preparing es�mates and for which a change in the condi�ons underlying the assump�ons u�lized could have a significant effect on the financial statements are: goodwill, amor�za�on and deprecia�on of fixed assets, deferred tax assets and liabili�es, the allowance for doub�ul accounts and the allowance for inventories, provisions for risks and charges, defined benefit plans for employees, and liabili�es for the acquisi�on of investments included under other liabili�es.

Notably, discre�onary measurements and significant accoun�ng es�mates concern the recoverable value of non-financial assets calculated as the greater amount between the fair value minus the cost of sale and the value in use. The value-in-use calcula�on is based on a discounted cash flow model. The recoverable value is highly dependent on the discount rate used in the model, as well as on the expected future cash flows and the growth rate applied. The key assump�ons used to determine the recoverable value for the two cash flow genera�ng units, including a sensi�vity analysis, are described in Note 2.6.6 to the Consolidated Financial Statements at 31 December 2025.

Moreover, the use of accoun�ng es�mates and significant assump�ons concerns also the determina�on of the fair values of the assets and liabili�es acquired in the framework of business combina�ons. In fact, at the acquisi�on date the Group must record, separately from the associated fair value, assets, liabili�es and poten�al liabili�es iden�fiable and acquired or assumed in the context of the business combina�on, and also determine the current value of the exercise price of any purchase op�ons on minority interests. This process calls for the prepara�on of es�mates, based on measurement techniques that involve making judgments about future cash flows and other hypotheses about the long-term growth rates and discount rates used in models developed with, in some cases, assistance from external experts. The accoun�ng impacts of determina�on of the fair value of acquired assets and assumed liabili�es, and of the op�ons to purchase minority interests for opera�ons of business combina�ons that occurred during the year, are provided in Note 2.5 "Business combina�ons" of the Consolidated financial statements at 31 December 2025.

The repor�ng formats and related classifica�on criteria adopted by the Group are indicated below.

In the context of the op�ons envisaged in IAS 1 - Presenta�on of financial statements, the consolidated statement of financial posi�on classifies assets and liabili�es in accordance with the "current/noncurrent" criterion.

The consolidated income statement classifies opera�ng costs by the purpose for which they were incurred; in compliance with IFRS requirements, the consolidated statement of comprehensive income includes, in addi�on to the results for the year, income and costs not recognized in the income statement for the year, as required by the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union.

The consolidated cash flow statement presents the cash flows from opera�ng ac�vi�es using the "indirect method".

2.3.2 Accoun�ng standards, amendments and interpreta�ons in force from 1 January 2025 and adopted by the Group

As from 2025 the Group has applied the following new accoun�ng standards, amendments and interpreta�ons, reviewed by IASB:

• Amendments to IAS 21 - The effects of changes in foreign exchange rates: lack of exchangeability. The IASB published an amendment on 15 August 2023 that contains guidelines to clarify when one currency is exchangeable into another currency and how to determine the exchange rate when, by contrast, it is not exchangeable. The amendment applies to repor�ng periods beginning on or a�er 1 January 2025. Early applica�on was allowed.

The adop�on of these standards had no significant effects on the financial statements of the Group.

2.3.3 Accoun�ng standards, amendments and interpreta�ons taking effect as from 1 January 2025 but not relevant for the Group

All accoun�ng standards that took effect from 1 January 2025 are relevant for the Group.

2.3.4 New accoun�ng standards and amendments not yet applicable and not adopted early by the Group

• IFRS 18 - Presentation and Disclosure in Financial Statements. On 9 April 2024, the IASB published a new standard that introduces certain important disclosures to be made in the explanatory notes to the financial statements when performance indicators are used that, as per the new standard, fall within so-called Management-defined Performance Measures. This ensures more transparent and comparable informa�on for investors on the financial results of companies. All companies that adopt IFRS will apply this standard.

During 2025, the Group began work to analyze and assess the poten�al impacts of applying IFRS 18.

The effects of applying this standard are s�ll being assessed and, at this �me, its impacts on the consolidated financial statements have not yet been determined. The standard will apply to repor�ng periods beginning on or a�er 1 January 2027. Early applica�on is allowed.

• IFRS 19 - Subsidiaries without Public Accountability: Disclosures. On 9 May 2024, the IASB published a new standard for subsidiaries without public accountability, which allows qualifying subsidiaries to apply IFRS with limited disclosures. The applica�on of IFRS 19 will reduce the cost of preparing the financial statements of subsidiaries, while retaining the usefulness of the informa�on provided to the users of their accounts.

The standard will apply to repor�ng periods beginning on or a�er 1 January 2027. Early applica�on is allowed.

• Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments. On 30 May 2024, the IASB published an Exposure Dra� that amends in par�cular IFRS 9 (Financial Instruments) and IFRS 7 (Financial Instruments: Disclosures), proposing amendments to ensure inter alia that the financial statements reflect more fairly the effects that contracts for renewable electricity have on a company. The standard will apply to repor�ng periods beginning on or a�er 1 January 2026. Early applica�on is allowed.
• Annual improvements to IFRS – Volume 11. On 19 July 2024, the IASB published the Annual Improvements to IFRS Accoun�ng Standards - Volume 11, which contains clarifica�ons, simplifica�ons, correc�ons and amendments to the IFRS that improve their internal consistency. The following accoun�ng standards were modified: IFRS 1 First-�me Adop�on of Interna�onal Financial Repor�ng Standards, IFRS 7 Financial Instruments: Disclosures and its accompanying Guidance on implemen�ng IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows.

The amendments are applicable from 1 January 2026. Early adop�on is allowed.

• "Amendments to IFRS 9 and IFRS 7, Amendments to the Contracts Referencing Nature-dependent Electricity". On 18 December 2024, the IASB published amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures, to help en��es report beter the financial effects of contracts structured as Power Purchase Agreements (PPAs), so that investors receive clearer informa�on about their financial performance and expected cash flows. The standard will apply to repor�ng periods beginning on or a�er 1 January 2026. Early applica�on is allowed.
• Amendments to IFRS 19 - Subsidiaries without Public Accountability: Disclosures. The IASB published these amendments to IFRS 19 on 21 August 2025. The newly-issued amendments help eligible subsidiaries by reducing disclosure requirements for Standards and amendments issued between February 2021 and May 2024. Specifically:
  • IFRS 18 - Presentation and Disclosure in Financial Statements.
  • Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7).
  • International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12).
  • Lack of Exchangeability (Amendments to IAS 21).
  • Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7).

With these amendments, IFRS 19 reflects the changes to IFRS Accoun�ng Standards that take effect up to 1 January 2027, when IFRS 19 will be applicable.

• Amendments to IAS 21 - The Effects of Changes in Foreign Exchange Rates. The IASB published an amendment to IAS 21 on 13 November 2025 that clarifies how en��es should translate financial statements from a non-hyperinfla�onary currency into a hyperinfla�onary one. The objec�ve is to improve the usefulness and comparability of the resul�ng informa�on. The standard will apply to repor�ng periods beginning on or a�er 1 January 2027. Early applica�on is allowed.

The Group is currently assessing the possible impacts of the new standards included in this sec�on.

2.3.5 Consolida�on principles

(i) Subsidiaries

Companies are subsidiaries when the Parent Company is exposed to or is en�tled to variable returns deriving from its investment rela�onship and, at the same �me, is able to influence such returns by exercising its power over the en�ty concerned.

Specifically, the Group controls an investment if, and only if, the Group has:

• power over the en�ty in which the investment is held (i.e. holds valid rights gran�ng the real ability to direct the significant ac�vi�es of that en�ty);
• exposure to or rights to variable returns deriving from its investment rela�onship with the en�ty concerned;
• the ability to exercise its power over the en�ty concerned in order to influence the amounts of its returns.

Generally, ownership of the majority of vo�ng rights is presumed to result in control. In support of this presump�on and when the Group holds less than the majority of vo�ng rights (or similar), the Group considers all significant facts and circumstances in order to determine whether or not it controls the en�ty concerned, including:

• contractual agreements with other owners of vo�ng rights;
• rights deriving from contractual agreements;
• vo�ng rights and poten�al vo�ng rights held by the Group that are not freely exercisable or conver�ble.

The Group reviews whether or not it controls an en�ty, if the facts and circumstances indicate changes in one or more of the three elements that are significant for the defini�on of control. Such poten�al vo�ng rights are not considered for consolida�on purposes at the �me of alloca�on to non-controlling interests of their por�on of the economic results and shareholders' equity. The financial statements of several subsidiaries have not been consolidated in considera�on of their limited significance; these investments are carried in accordance with the principles illustrated in Note 2.3.12.

The financial statements of subsidiaries are consolidated star�ng from the date on which the Group acquires control, and deconsolidated from the date on which control is relinquished. They are prepared with reference to the same accoun�ng period and using the same accoun�ng standards as the Parent Company.

Acquisi�ons of stakes in subsidiaries are recorded in accordance with the purchase account method. The acquisi�on cost corresponds to the current value of the acquired assets, shares issued, or liabili�es assumed at the date of acquisi�on. Ancillary expenses associated with the acquisi�on are generally recognized in the income statement when they are incurred. The excess of acquisi�on cost over the Group interest in the current value of the net assets acquired is recognized in the statement of financial posi�on as goodwill. For all business combina�ons, the Group decides whether to measure the noncontrolling interest in the acquired en�ty at fair value, or in propor�on to the minority equity interest acquired. Any nega�ve goodwill is recorded in the income statement at the date of acquisi�on.

If the business combina�on is achieved in several phases, the equity interest previously held is remeasured at fair value at the acquisi�on date and any profits or losses are recognized in the income statement.

The fair value of any con�ngent considera�on payable is recognized by the purchaser at the acquisi�on date. Changes in the fair value of con�ngent considera�on classified as an asset or a liability, as a

financial instrument governed by IFRS 9 Financial instruments: recogni�on and measurement, are recognized in the income statement or in the statement of other comprehensive income. Any con�ngent considera�on not falling within the scope of IFRS 9 is measured at fair value and the changes in fair value are recognized in the income statement. If the con�ngent considera�on is classified in equity, its value is not remeasured and the effect of subsequent setlement is also recognized in equity.

A�er the Group has obtained control of an en�ty, subsequent acquisi�ons of interests in said en�ty that result in an increase or decrease in acquisi�on cost with respect to the amount atributable to the Group are recognized as equity transac�ons.

Subsidiaries are consolidated on a line-by-line basis, which combines the en�re amount of their assets and liabili�es and all their costs and revenues, irrespec�ve of the percentage of control. The accoun�ng value of consolidated equity investments is therefore eliminated against the related interest in their shareholders' equity. The por�ons of shareholders' equity and profits of non-controlling interests are shown respec�vely in a specific cap�on under shareholders' equity and on a separate line of the consolidated income statement. The Group is required to allocate the total statement of comprehensive income to the owners of the parent and to the non-controlling interests, even if this means that the later have a nega�ve balance.

If the Group losses control over a subsidiary, the related assets (including goodwill), liabili�es, noncontrolling interests and other components of equity are deconsolidated, while any profits or losses are recognized in the income statement. Any equity interest retained is recognized at fair value.

(ii) Associates

Associates are companies over which the Group has significant influence, without exercising control over their opera�ons. The considera�ons made in order to determine the existence of significant interest or joint control are similar to those made to determine the existence of control over subsidiaries. The Group's investments in associates are measured using the equity method.

Under the equity method, the investment in an associate is ini�ally measured at cost. The carrying amount of the investment is increased or decreased to recognize the interest of the investor in the profits and losses earned by the en�ty subsequent to the acquisi�on date. Any goodwill for an associate is included in its carrying amount and is not subject to separate impairment tes�ng.

The income statement reflects the Group's interest in the results for the year of the associate. All changes in the other comprehensive income reported by associates are recognized as part of the other comprehensive income of the Group. In addi�on, if an associate recognizes a change directly in equity, the Group also recognizes its share of that change, where applicable, in the statement of changes in shareholders' equity. Any unrealized profits and losses deriving from transac�ons between the Group and associates are eliminated in propor�on to the interests held in them.

The total interest of the Group in the results for the year of associates is classified in the income statement below the opera�ng results line. This interest represents their results a�er taxa�on and the por�on atributable to the other owners of the associate. The financial statements of associates are prepared at the same repor�ng date as that used by the Group. Where necessary, they are adjusted to reflect the accoun�ng policies adopted by the Group.

Subsequent to applica�on of the equity method, the Group considers if it is necessary to recognize any impairment in the value of its interests in associates. On each repor�ng date, the Group determines if there is any objec�ve evidence that the carrying amount of associates might be impaired. If so, the

Group calculates the loss as the difference between the recoverable value of the associate and its carrying amount, and charges it to the "interest in the results of associates" cap�on of the income statement.

When significant interest over an associate is lost, the Group measures and recognizes the residual investment at its fair value. The difference between the carrying amount of an investment on the date when significant influence is lost, and the fair value of the residual investment plus the considera�on received, is recognized in the income statement.

(iii) Equity investments in other companies

Informa�on about the investments in other companies that represent financial assets is provided in Note 2.3.14 Financial assets (Trade receivables, Other financial assets and Other assets).

(iv) Transactions eliminated in the consolidation process

Intercompany balances and gains and losses arising from intercompany transac�ons are omited in the consolidated financial statements. Intercompany gains deriving from transac�ons with associated companies are omited in the valua�on of the investment with the net equity method. Intercompany losses are only omited in the presence of evidence that they have not been incurred in rela�on to third par�es.

2.3.6 Business sector informa�on

Based on the defini�on provided by standard IFRS 8 an opera�ng segment is a component of an en�ty:

• that undertakes business ac�vity that generates costs and revenues;
• the opera�ng results of which are periodically reviewed at the highest decisional/opera�ng level of the en�ty in order to make decisions concerning the resources to allocate to the segment and the measurement of the results;
• for which separate accoun�ng informa�on is available.

The business sectors in which the Group operates are determined on the basis of the repor�ng u�lized by Group top management to make decisions, and they have been iden�fied as the water-Je�ng sector and the Hydraulic sector:

• the Water-Je�ng sector essen�ally comprises high and very high-pressure pumps and very highpressure pumping systems used in a wide range of industrial sectors for the conveyance of fluids. The sector also includes high pressure homogenizers, mixers, agitators, piston pumps, valves, mechanical si�ers, automated milking systems and other machines mainly used in the food processing, chemicals, cosme�cs and pharmaceu�cals industries;
• the Hydraulic sector includes power take-offs, hydraulic cylinders and pumps, direc�onal controls and hydraulic valves, rotary unions, hydraulic hoses and fi�ngs, gears, orbital motors, steering systems (hydroguide) and other hydraulic components. This sector also includes piping systems used in the industrial, naval and offshore sectors.

Informa�on is also provided for the geographical areas in which the Group operates, namely Italy, Europe (including non-EU European countries and excluding Italy), North America, Far East and Pacific Area, and the Rest of the World.

2.3.7 Treatment of foreign currency transac�ons

(i) Foreign currency transactions

The func�onal and presenta�on currency adopted by the Interpump Group is the euro. Foreign currency transac�ons are translated to euro using the exchange rates in force on the date of the transac�on. Monetary assets and liabili�es are translated at the exchange rate in force on the repor�ng date. Foreign exchange differences arising from the transla�on are recognized in the income statement. Non-monetary assets and liabili�es measured at historical cost are translated at the exchange rates in force on the date of the related transac�ons. Monetary assets and liabili�es stated at fair value are translated to euro at the exchange rate in force on the repor�ng date in respect of which their fair value was determined.

(ii) Translation to euro of financial statements in foreign currencies

The assets and liabili�es of companies not residing in the European Union (EU) and whose func�onal currency is not the Euro, including the goodwill adjustments deriving from the consolida�on process and the fair-value adjustments generated by the acquisi�on of a foreign company outside the EU, are translated at the exchange rates in force on the repor�ng date. Revenues and costs of the same companies are translated at the average exchange rate for the year, which approximates the exchange rates in force on the dates on which the individual transac�ons were carried out. Foreign exchange differences arising from transla�on are allocated to a specific equity reserve designated Transla�on Reserve. At the �me of disposal of a foreign economic en�ty, accumulated exchange differences reported in the Transla�on Reserve will be recognized in the income statement. The exchange rates used for the transla�on to euro of the amounts booked to the income statements and statements of financial posi�on of companies with func�onal currency other than the euro are as follows:

Currency	2025 averages	At 31 December 2025	2024 averages	At 31 December 2024
Danish Krone	7.463	7.469	7.459	7.458
Swedish Krona	11.066	10.822	11.432	11.459
UAE Dirham	4.150	4.315	3.975	3.815
Australian Dollar	1.752	1.758	1.640	1.677
Canadian Dollar	1.579	1.609	1.482	1.495
Hong Kong Dollar	8.810	9.146	8.445	8.069
New Zealand Dollar	1.942	2.038	1.788	1.853
Singapore Dollar	1.476	1.511	1.446	1.416
US Dollar	1.130	1.175	1.082	1.039
Swiss Franc	0.937	0.931	0.953	0.941
Ukrainian Hryvnia	47.110	49.795	43.490	43.685
Moldovan Leu	19.546	19.632	19.196	19.088
Romanian Leu	5.042	5.097	4.975	4.974
Bulgarian Lev	1.956	1.956	1.956	1.956
New Peruvian Sol	4.026	3.952	4.062	3.905
Chilean Peso	1,074.608	1,058.13	1,020.658	1,033.760
Columbian Peso	4,573.21	4,435.19	4,407.144	4,577.550

B. CONSOLIDATED FINANCIAL STATEMENTS

Currency	2025 averages	At 31 December 2025	2024 averages	At 31 December 2024
South African Rand	20.179	19.444	19.830	19.619
Mexican Peso	21.670	21.118	19.831	21.550
Brazilian Real	6.307	6.436	5.828	6.425
Russian Ruble	94.052	92.094	100.280	106.103
Indian Rupee	98.524	105.597	90.556	88.933
UK Pound	0.857	0.873	0.847	0.829
South Korean Won	1,605.452	1,696.94	1,475.404	1,532.150
Chinese Yuan	8.119	8.226	7.787	7.583
Polish Zloty	4.24	4.221	4.306	4.275
Turkish Lira	44.816	50.484	35.573	36.737

The economic values of companies that entered the consolida�on perimeter during the year were translated using the average exchange rate for the period in which they contributed to the Group results.

2.3.8 Property, plant and equipment

(i) Recognition and measurement

Property, plant and equipment are measured at the historical cost and stated net of accumulated deprecia�on (see next point iii) and impairment losses (see Note 2.3.11). The cost of goods produced internally includes the cost of raw materials, directly related labor costs, and a por�on of indirect produc�on costs. The cost of assets, whether purchased externally or produced internally, includes the ancillary costs that are directly atributable and necessary for use of the asset and, when they are significant and in the presence of contractual obliga�ons, the current value of the cost es�mated for the dismantling and removal of the related assets.

Financial expenses rela�ve to loans u�lized for the purchase of tangible fixed assets are recorded in the income statement on an accruals basis if they are not specifically allocated to the purchase or construc�on of the asset, otherwise they are capitalized.

Assets held for sale are measured at the lower of the fair value net of selling-related costs and their book value.

(ii) Subsequent costs

The replacement costs of certain parts of assets are capitalized when it is expected that said costs will result in future economic benefits and they can be measured in a reliable manner. All other costs, including maintenance and repair costs, are recognized in the income statement when they are incurred.

(iii) Depreciation

Deprecia�on is charged to the income statement on a straight-line basis over the es�mated residual useful lives of the related capitalized assets. Land is not depreciated. The es�mated useful lives of assets are as follows:

Property	20-30 years
Plant and machinery	10-12.5 years
Industrial and commercial equipment	3-6 years
Other assets	3-8 years

The es�mated useful lives of assets are reviewed on an annual basis, and any changes in the rates of deprecia�on are applied, where necessary, on a prospec�ve basis.

For assets purchased and/or that became opera�onal in the year, deprecia�on is calculated u�lizing annual rates reduced by 50%. Historically, this method has been representa�ve of the effec�ve u�liza�on of the assets concerned.

Any profits/losses emerging on the derecogni�on of assets, i.e. on disposal (from the date on which the purchaser obtains control over them) or when no further economic benefits are expected from their use or disposal, (being the difference between their carrying amount and the net considera�on obtained) are recognized in the income statement at that �me.

(iv) Leasing

Right-of-use assets are measured at cost and stated net of accumulated deprecia�on and impairment. They are also adjusted following remeasurement of the related lease liabili�es. The cost of right-of-use assets comprises the amount of the lease liabili�es recognized, the ini�al direct costs incurred and the lease payments made at the start date or in advance, net of any and all incen�ves received. Right-ofuse assets are depreciated on a straight-line basis from the start date un�l the end of the useful life of the asset, being the end of the usage right (dura�on of the lease contract). The corresponding liability to the lessor is classified among the financial debts.

(v) Leasehold improvements

Any leasehold improvements with the same characteris�cs as fixed assets are capitalized in the asset category to which they relate and depreciated over their useful lives or, if shorter, over the residual life of the lease.

2.3.9 Goodwill

As stated in Note 2.3.5 Consolida�on principles, goodwill represents the excess amount of the purchase cost with respect to the Group por�on of the fair value of current and poten�al assets and liabili�es at the date of purchase.

Goodwill is recorded at cost, net of impairment losses.

Goodwill is allocated to the cash-genera�ng units iden�fied with reference to the organiza�on, management and control structure of the Group, which coincide with the two opera�onal sectors iden�fied by the Group. The book value is measured in order to assess the absence of impairment (see Note 2.3.11). Goodwill related to non-consolidated subsidiaries and associates is included in the value of the investment.

Any nega�ve goodwill origina�ng from acquisi�ons is entered directly in the income statement.

If the goodwill was allocated to a cash genera�ng unit and the en�ty re�res part of that unit's ac�vi�es, the goodwill associated with the re�red assets is added to their carrying amount when determining the profit or loss on re�rement. The goodwill associated with the re�red ac�vity is determined with reference to the value of the re�red assets with respect to those retained by the cash genera�ng unit.

2.3.10 Other intangible fixed assets

(i) Research and development costs

Research costs for the acquisi�on of new technical know-how are charged to the income statement as incurred.

Development costs rela�ng to the crea�on of new products/accessories or new produc�on processes are capitalized if the Group's companies can prove:

• the technical feasibility and inten�on of comple�ng the intangible asset in such a way that it is available for use or for sale;
• their ability to use or sell the asset;
• the forecast volumes and realiza�on values indicate that the costs incurred for development ac�vi�es will generate future economic benefits;
• that the costs are measurable in a reliable manner;
• that resources exist to complete the development project.

The capitalized cost includes the cost of raw materials, directly related labor costs and a por�on of indirect costs. Capitalized development costs are valued at cost, net of accumulated amor�za�on, (see next point v) and impairment (see Note 2.3.11). Other development costs are ascribed to the income statement when they arise.

(ii) Loan ancillary costs

Loan ancillary costs are treated as outlined in Note 2.3.14. Ancillary costs rela�ng to loans not yet received are recorded as current assets and reclassified as a deduc�on from the loans on their receipt.

(iii) Other intangible assets

Other intangible assets, all having a defined useful life, are measured at cost and recorded net of accumulated amor�za�on (see next point v) and impairment (see Note 2.3.11).

Trademarks and patents, which cons�tute almost the en�rety of this cap�on, are amor�zed as follows: the Hammelmann trademark, the NLB trademark and patents, the Inoxpa, American Mobile, Waikato, Alfa Valvole and I.mec trademarks are amor�zed over 15 years, being the period considered representa�ve of their useful lives, given their leadership posi�ons in their respec�ve niche markets. The Walvoil, Reggiana Ridutori, Transtecno, White Drive, Berma, Eurofluid, Hidrover and Tuto Hidráulicos Ltda trademarks are amor�zed over 10 years, given their leadership posi�ons in highly compe��ve markets.

So�ware licenses are amor�zed over their period of u�liza�on (3-5 years).

The costs incurred internally for the crea�on of trademarks or goodwill are recognized in the income statement when they are incurred.

(iv) Subsequent costs

Costs incurred subsequently rela�ve to intangible fixed assets are capitalized only if they increase the future economic benefits of the specific capitalized asset, otherwise they are entered in the income statement when they are sustained.

(v) Amortization

Amor�za�on is charged to the income statement on a straight-line basis over the es�mated useful lives of the related capitalized assets. The es�mated useful lives of assets are as follows:

Patents and trademarks	5-18 years
Development costs	5 years
Granting of software and other licenses	3-5 years

Useful lives are reviewed on an annual basis and any changes in the rates are applied, where necessary, on a prospec�ve basis.

2.3.11 Impairment of assets

The book values of assets, with the excep�on of inventories (see Note 2.3.15), financial assets regulated by IFRS 9, deferred tax assets (see Note 2.3.19), and non-current assets held for sale regulated by IFRS 5, are subject to measurement at the repor�ng date in order to iden�fy the existence of possible indicators of impairment. If the valua�on process iden�fies the presence of such indicators, the presumed recoverable value of the asset is calculated using the methods indicated in the following point (i).

The recoverable value of goodwill and intangible assets not yet in use is es�mated at least annually, or more frequently if specific events provide evidence of possible impairment.

If the es�mated recoverable value of the asset or its cash genera�ng unit is lower than its net book value, the asset to which it refers is consequently adjusted for impairment loss with entry into the income statement.

Adjustments for impairment losses made in rela�on to the cash genera�ng units are allocated ini�ally to goodwill, and, for the remainder, to other assets on a propor�onal basis.

Goodwill is tested for impairment on a yearly basis even if there are no indicators of poten�al impairment.

(i) Calculation of estimated recoverable value

The es�mated recoverable value of other assets is equal to their fair value less selling costs or, if greater, their value in use. The value in use is equivalent to the projected future cash flows, discounted to present value at a rate, including tax, that takes account of the market value, of interest rates and specific risks of the asset to which the presumed realiza�on value refers. For assets that do not give rise to independent cash flows the presumed realiza�on value is determined with reference to the cash genera�ng unit to which the asset belongs.

(ii) Reinstatement of impairment losses

An impairment rela�ng to other assets is reinstated if a change has occurred in their es�mated recoverable value.

Impairment is reinstated to the extent of the corresponding book value that would have been determined, net of deprecia�on/amor�za�on, had no impairment loss ever been recognized.

Impairment related to goodwill is never reinstated.

2.3.12 Equity investments

Investments in associates are measured using the equity method, as envisaged in IAS 28 (see Note 2.3.5 (ii) Associates).

Informa�on about the investments in equity instruments (investments in other companies) is provided in Note 2.3.14 Financial assets (Trade receivables, Other financial assets and Other assets).

2.3.13 Cash and cash equivalents

Cash and cash equivalents include cash on hand, bank and post office deposits, and securi�es having original maturity date of less than three months. Current account overdra�s and advances with recourse are deducted from cash only for the purposes of the cash-flow statement.

2.3.14 Financial assets (Trade receivables, Other financial assets and Other assets)

On ini�al recogni�on, the classifica�on of financial assets depends on how they will be measured subsequently: at amor�zed cost, at fair value through other components of comprehensive income or at fair value through profit or loss. Again at the �me of ini�al recogni�on, financial assets are classified with reference to the characteris�cs of the related contractual cash flows and the business model used by the Group for their management. With the exclusion of trade receivables that do not contain a significant financing component, the Group ini�ally measures financial assets at their fair value,

including transac�on costs in the case of those not measured at fair value through profit and loss. Trade receivables that do not have a significant financial component are measured at their transac�on price, as defined in accordance with IFRS 15.

Financial assets are measured at amor�zed cost if they are held in order to collect contractual cash flows (Held to Collect), represented solely by the payment of principal and interest on the amount of principal s�ll be repaid. All receivables are included in this category. These assets are measured at amor�zed cost, in accordance with the effec�ve interest criterion, and stated net of impairment losses. Interest income, exchange gains and losses, and impairment losses are recognized in the profit (loss) for the year, as are derecogni�on gains and losses.

Financial assets are measured at fair value through other comprehensive income if they are held by the Group both to collect contractual cash flows, represented solely by the payment of principal and interest on the amount of principal to be repaid, and to sell them (Held to Collect and Sell).

If a financial asset is not measured in one of the two ways described above, it must be measured at fair value through profit or loss. Accordingly, this category includes the assets held for trading and the assets designated on ini�al recogni�on as financial assets at fair value through profit or loss, as well as the financial assets whose measurement at fair value is mandatory. The fair value of the financial assets held for trading is determined with reference to market prices on the relevant annual or interim repor�ng date, or using financial valua�on techniques and models.

In accordance with IFRS 9, commencing on 1 January 2018 the Group adopted a new impairment model for financial assets measured at amor�zed cost or at fair value through other components of comprehensive income, with the excep�on of equity securi�es and assets deriving from customer contracts. This new model is based on determining the expected credit loss (ECL), which replaced the incurred loss model envisaged previously. The new standard envisages adop�on of the following methodologies: the General deteriora�on method and the Simplified approach. With regard to the simplified approach adopted by the Group, the standard does not specify how to segment customers, leaving each en�ty free to select the sample subsets in a manner consistent with its own circumstances. Within the simplified model, an analy�cal approach has been applied in rela�on to trade receivables deemed by management to be individually significant, and for which more detailed informa�on is available about the significant increase in credit risk.

A financial asset (or, where applicable, part of a financial asset or part of a group of similar financial assets) is derecognized (i.e. removed from the statement of financial posi�on) when:

• the right to receive cash flows deriving from the asset has expired, or
• the Company has transferred the right to receive cash flows deriving from the asset to a third party, or has accepted a contractual obliga�on to pay them over in full and without delay and (a) has transferred substan�ally all the risks and benefits of ownership of the financial asset, or (b) has not transferred or retained substan�ally all the risks and benefits of ownership of the financial asset, but has transferred control over it.

The profit (loss) on a financial asset that is measured at amor�zed cost and is not included in a hedging rela�onship must be recognized in profit (loss) in the year in which it is derecognized or reclassified, or via the amor�za�on process or when impairment adjustments are recorded.

2.3.15 Inventories

Inventories are measured at the lower of purchase cost or their es�mated realizable value. Cost is determined on a weighted-average basis and includes all costs incurred to purchase the materials and transform them into their state and condi�on at the repor�ng date. The cost of semi-finished goods

and finished products includes a por�on of indirect costs determined on the basis of normal produc�on capacity. Write down provisions are calculated for materials, semi-finished goods and finished products considered to be obsolete or slow moving, taking account of their expected future usefulness and their realizable value. Net realizable value is es�mated with reference to market price in the ordinary course of business, less any comple�on and selling costs to be incurred.

2.3.16 Share capital and treasury shares

The price paid to purchase of treasury shares, inclusive of any directly-atributable ancillary charges, is deducted from share capital for the por�on concerning the nominal value of shares and from other shareholders' equity for the remainder. When treasury shares are resold or reissued, the price collected, net of any directly-atributable ancillary charges and the related tax effect, is recorded as share capital for the por�on concerning the nominal value of shares and as other shareholders' equity for the remainder.

2.3.17 Financial liabili�es (Trade payables, Bank debts, Interest-bearing financial debts and Other liabili�es)

On ini�al recogni�on, financial liabili�es are measured at fair value through profit and loss and classified either as loans or as deriva�ves designated as hedging instruments. All financial liabili�es are ini�ally recognized at fair value, including directly-atributable transac�on costs in the case of loans and payables. Following ini�al recogni�on, loans are measured at amor�zed cost using the effec�ve interest method. The effec�ve interest rate is the rate that exactly discounts the es�mated collec�ons over the expected life of the financial instrument or the future payments to the gross carrying amount of the financial asset or the amor�zed cost of the financial liability. Profits and losses are recognized in the income statement when liabili�es are setled, as well as via the amor�za�on process. Amor�za�on using the effec�ve interest rate is classified among the financial expenses in the income statement.

A financial liability is derecognized when the underlying obliga�on expires or when the obliga�on specified in the contract is setled, canceled or expires.

Trade payables and other debts, the rela�ve due date of which is within normal commercial terms, are not discounted to present value and are entered at the amor�zed cost representa�ve of their discharge value.

Current financial liabili�es include the short-term por�ons of the interest-bearing financial debts, bank and lease payables and other financial liabili�es.

2.3.18 Liabili�es for employee benefits

(i) Defined contribution plans

The Group par�cipates in defined pension plans with public administra�on or private plans on a compulsory, contractual, or voluntary basis. The payment of contribu�ons fulfills the Group's obliga�ons towards its employees. The contribu�ons therefore cons�tute costs of the period in which they are due.

(ii) Defined benefit plans

Defined benefits for employees disbursed on termina�on of their employment with the Group or therea�er, and which include severance indemnity of Italian companies, are calculated separately for each plan, using actuarial techniques to es�mate the amount employees have accrued in the year and

in previous years. The resul�ng benefit is discounted to present value and recorded net of the fair value of any related assets.

The defined benefit obliga�on is calculated on an annual basis by an independent actuary using the projected unit credit method.

If the plan benefits increase, the prior-service por�on of the increase is charged to the income statement on a straight-line basis over the period in which the related rights will be acquired. If the rights are acquired immediately, the increase is recognized immediately in the income statement.

Actuarial profits and losses are recognized in a specific equity reserve on an accrual basis.

Un�l 31 December 2006 the severance indemnity provision (TFR) of Italian companies was considered to be a defined benefits plan. The rules governing the provision were amended by Law no. 296 of 27 December 2006 ("2007 Finance Act") and by subsequent Decrees and Regula�ons enacted in the ini�al months of 2007. In the light of these changes, and in par�cular with reference to companies with at least 50 employees, the TFR severance indemnity should now be classified as a defined benefits plan exclusively for the por�ons accrued prior to 1 January 2007 (and not yet paid out at the date of the financial statements), while a�er that date TFR should be considered as a defined contribu�ons plan.

(iii) Stock options

On the basis of the stock op�on plans currently in existence, certain employees and directors are en�tled to purchase treasury shares from Interpump Group S.p.A. The op�ons are measured at their fair value, which is charged to the income statement as an increase in the cost of personnel and directors, with a matching entry to the share premium reserve for share-based payment transac�ons. Fair value is measured at the grant date of the op�on and recorded in the income statement in the period that runs between said date and the date on which the op�ons become exercisable (ves�ng period), a�er the condi�ons rela�ng to the achievement of objec�ves and/or the provision of services have been met.

The cumula�ve costs recognized in rela�on to these opera�ons at each repor�ng date un�l the ves�ng date are determined with reference to the length of the ves�ng periods and the best es�mate of the number of par�cipa�ng instruments that will actually vest. The cost or income reported in the income statement reflects the change in the accumulated costs between the start and the end of the year.

No costs are recognized for rights that do not vest, except in the case of rights whose assignment is dependent on market condi�ons or a non-ves�ng condi�on. These are treated as if vested, regardless of whether or not the market condi�ons or other non-ves�ng condi�ons have been sa�sfied, without prejudice to the fact that all other performance and/or service condi�ons must s�ll be sa�sfied. If the plan condi�ons are amended, the minimum cost recognized is that which would have been incurred without the plan amendment. A cost is also recognized for each amendment that increases the total fair value of the payment plan, or that is in any case favorable for employees; this cost is measured with reference to the amendment date.

The dilu�ng effect of unexercised op�ons is reflected in the calcula�on of diluted earnings per share.

The fair value of the op�on is determined using the applicable op�ons measurement method (specifically, the trinomial la�ce model), taking account the terms and condi�ons at which the op�ons were granted.

2.3.19 Income taxes

Income taxes disclosed in the income statement include current and deferred taxes. Income taxes are generally disclosed in the income statement, except when they refer to types of items that are recorded directly under shareholders' equity. In this case, the income taxes are also recognized directly in equity.

Current taxes are taxes that are expected to be due, calculated by applying to the taxable income the tax rate in force at the repor�ng date and the adjustments to taxes of prior years.

Deferred taxes are calculated using the liability method on the �ming differences between the amount of assets and liabili�es in the consolidated financial statements and the corresponding values recognized for tax purposes. Deferred tax liabili�es are recognized in rela�on to all taxable temporary differences, except for:

• the deferred tax liabili�es deriving from the ini�al recogni�on of goodwill or an asset or liability in a transac�on that does not represent a business combina�on and, at the �me of the transac�on, does not affect the reported results or taxable income;
• reversals of taxable temporary differences, associated with investments in subsidiaries, associates and joint ventures, that can be controlled and that are unlikely to occur in the foreseeable future.

Deferred tax assets are recognized in rela�on to all deduc�ble temporary differences, tax credits and unused tax losses carried forward, to the extent that future taxable income is likely to be sufficient to allow the recovery of the deduc�ble temporary differences, tax credits and tax losses carried forward, except for:

• the deferred tax assets linked to deduc�ble temporary differences that derive from the ini�al recogni�on of an asset or liability in a transac�on that does not represent a business combina�on and, at the �me of the transac�on, does not affect the reported results or taxable income;
• the deferred tax assets linked to deduc�ble temporary differences associated with investments in subsidiaries, associates and joint ventures, which are only recognized if they are likely to reverse in the foreseeable future and there will be sufficient taxable income from them to recover such temporary differences.

Deferred taxes are calculated in accordance with the envisaged method of transfer of �ming differences, using the tax rate in force at the reference date of years in which the �ming differences arose.

Deferred tax assets are recognized exclusively in the event that it is probable that in future years sufficient taxable incomes will be generated for the realiza�on of said deferred taxes. The carrying amount of deferred tax assets is reviewed at each repor�ng date and reduced to the extent that future taxable income is no longer likely to be sufficient to allow the recovery of such assets, in whole or in part. Any unrecognized deferred tax assets are reviewed at each repor�ng date and recognized to the extent that it has become probable that future taxable income will be sufficient to allow their recovery.

2.3.20 Provisions for risks and charges

In cases where the Group has a legal or substan�al obliga�on resul�ng from a past event, and when it is probable that the loss of economic benefits must be sustained in order to fulfill such an obliga�on, a specific provision for risks and charges is created. If the temporal factor of the envisaged loss of benefits is significant, the amount of the future cash ou�lows is discounted to present values at a rate, gross of taxes, that takes account of the market interest rates and the specific risk of the liability referred to.

(i) Product warranty provision

Liabili�es for warranty repairs are allocated to the specific product warranty provision at the �me of sale of the products. The provision is determined on the basis of historic data describing the cost of warranty repairs.

(ii) Restructuring provision

A restructuring provision is formed exclusively in the event that the Group has approved a formal and detailed restructuring plan and has started to implement it or has published it before the repor�ng date. In other cases, the future costs are not set aside.

(iii) Onerous contracts

When the forecast future benefits of a contract are less than the non-eliminable costs rela�ng to it, a specific provision is created equivalent to the difference.

2.3.21 Revenues

(i) Revenues from the sale of goods and services

Revenues deriving from contracts with customers are recognized on the basis of the following 5 steps: (i) iden�fica�on of the contract with the customer; (ii) iden�fica�on of the contractual performance obliga�ons to be transferred to the customer in exchange for the transac�on price; (iii) determina�on of the transac�on price; (iv) alloca�on of the transac�on price to the individual performance obliga�ons; (v) recogni�on of the revenue when the associated performance obliga�on is fulfilled. Revenues are recognized at the amount of the considera�on to which the Group considers it is en�tled on sa�sfac�on of the obliga�on, when the customer acquires control over the goods or services transferred. The Group has iden�fied a single revenue stream from the sale of products and spare parts represen�ng the obliga�ons sa�sfied at a given point in �me. Revenues from the sale of products are recognized when the significant risks and benefits associated with control over the goods are transferred to the purchaser. The change of control coincides with the transfer of ownership or possession of the goods to the purchaser and, therefore, generally occurs on shipment or on comple�on of the service.

(ii) State grants

State grants are recorded as deferred revenue under other liabili�es when it becomes reasonably certain that they will be disbursed and when the Group has fulfilled all the necessary condi�ons to obtain them. Grants received against costs sustained are recorded in the income statement systema�cally in the same periods in which the rela�ve costs are incurred.

2.3.22 Costs

(ii) Lease installments

The principal por�on of lease installments is deducted from the financial payable, while the interest por�on is charged to the income statement.

(ii) Financial income and expenses

Financial income and expenses are recorded on an accruals basis with reference to the interest matured on the net value of the financial assets and liabili�es concerned, using the effec�ve interest rate. Financial income and expenses include currency exchange gains and losses and gains and losses on deriva�ve instruments to be charged to the income statement (see Note 2.3.14).

The other cost cap�ons are described in the previous sec�ons of Note 2.3.

2.4 Business sector informa�on

Business sector informa�on is supplied with reference to the opera�ng sectors. The informa�on by geographical area required under the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union is also provided. The informa�on provided about business sectors reflects the Group's internal repor�ng structure, used by top management for decision-making purposes, and does not derive from the aggrega�on of several opera�ng sectors.

The value of components and products transferred between sectors is generally the effec�ve sales price between Group companies and corresponds to the best customer sale prices.

Sector informa�on includes directly atributable costs and costs allocated on the basis of reasonable es�mates. Holding company costs, i.e. remunera�on of directors, statutory auditors and func�ons of the Group's financial management, control and internal audi�ng, and also consultancy costs and other related costs, are allocated to each sector on the basis of their revenues.

The Group comprises the following business sectors:

Water-Jetting sector. This sector is mainly composed of high and very high-pressure pumps and pumping systems used in a wide range of industrial sectors for the conveyance of fluids. High pressure plunger pumps are the main component of professional pressure washers. These pumps are also u�lized for a broad range of industrial applica�ons including car wash installa�ons, forced lubrica�on systems for machine tools, and inverse osmosis systems for water desalina�on plants. Very highpressure pumps and systems are used for cleaning surfaces, ships, various types of pipes, and also for removing machining burr, cu�ng and removing cement, asphalt, and paint coa�ngs from stone, cement and metal surfaces, and for cu�ng solid materials. The sector also includes high pressure homogenizers, mixers, agitators, piston pumps, valves, mechanical si�ers, automated milking systems and other machinery produced mainly for the food processing industry, but also used in the chemicals, cosme�cs and pharmaceu�cals sectors.

Hydraulic sector. This sector includes the produc�on and sale of power take-offs, hydraulic cylinders and pumps, direc�onal controls, valves, rotary unions, hydraulic hoses and fi�ngs, gears, orbital motors, steering systems (hydroguide) and other hydraulic components. Power take-offs are mechanical units used to transmit energy from the engine or gearbox of an industrial vehicle in order to drive, via hydraulic components, its various applica�ons. These products, combined with other hydraulic components (spool valves, controls, etc.) allow the execu�on of special func�ons such as li�ing �pping bodies, opera�ng truck-mounted cranes and opera�ng mixer trucks. Hydraulic cylinders are components of the hydraulic system of various vehicle types employed in a wide range of applica�ons depending on the type. Front-end and underbody cylinders (single ac�ng) are fited mainly on industrial vehicles in the building construc�on sector, while double ac�ng cylinders are employed in a range of applica�ons: earthmoving machinery, agricultural machinery, cranes and truck cranes, waste compactors, etc. The hydraulic hoses and fi�ngs are designed for use in a broad range of hydraulic systems and also for very high pressure water systems. Gears facilitate the mechanical transmission of energy, with applica�ons in various industrial sectors including agriculture, materials handling, mining, heavy industry, marine & offshore, aerial pla�orms, forestry and sugar produc�on. Orbital motors are used on industrial vehicles, in the construc�on sector, in earth-moving equipment and in agricultural equipment. The Group also designs and makes piping systems for the industrial, naval and offshore sectors.

B. CONSOLIDATED FINANCIAL STATEMENTS

Interpump Group business sector information	Hydraulic		Water-Jetting		Elimination entries		Interpump Group
€/000	2025	2024	2025	2024	2025	2024	2025	2024
Revenues outside the Group	1,354,953	1,407,494	715,731	670,905	-	-	2,070,684	2,078,399
Inter-sector revenues	2,613	2,656	5,135	4,301	(7,748)	(6,957)	-	-
Total revenues	1,357,566	1,410,150	720,866	675,206	(7,748)	(6,957)	2,070,684	2,078,399
Cost of sales	(954,415)	(996,640)	(393,321)	(375,121)	7,827	7,008	(1,339,909)	(1,364,753)
Gross profit	403,151	413,510	327,545	300,085	79	51	730,775	713,646
% of revenues	29.7%	29.3%	45.4%	44.4%			35.3%	34.3%
Other net revenues	29,498	28,747	13,618	8,922	(1,245)	(955)	41,871	36,714
Distribution expenses	(98,892)	(99,618)	(86,652)	(74,603)	370	331	(185,174)	(173,890)
General and administrative expenses	(151,722)	(143,508)	(90,079)	(84,183)	796	573	(241,005)	(227,118)
Other operating costs	(8,459)	(8,040)	(1,444)	(3,498)	-	-	(9,903)	(11,538)
EBIT	173,576	191,091	162,988	146,723	-	-	336,564	337,814
% of revenues	12.8%	13.6%	22.6%	21.7%			16.3%	16.3%
Financial income	19,993	20,324	8,833	17,584	(1,555)	(2,612)	27,271	35,296
Financial expenses	(31,921)	(25,972)	(34,960)	(39,020)	1,555	2,612	(65,326)	(62,380)
Dividends	-	-	69,857	55,386	(69,857)	(55,386)	-	-
Equity method contribution	256	338	(7,897)	(1,547)	7,980	1,511	339	302
Profit for the year before taxes	161,904	185,781	198,821	179,126	(61,877)	(53,875)	298,848	311,032
Income taxes	(50,842)	(48,514)	(38,297)	(34,048)	-	-	(89,139)	(82,562)
Consolidated profit for the year	111,062	137,267	160,524	145,078	(61,877)	(53,875)	209,709	228,470
Attributable to:
Shareholders of Parent	110,355	136,575	159,644	144,351	(61,877)	(53,875)	208,122	227,051
Minority shareholders of subsidiaries	707	692	880	727	-	-	1,587	1,419
Consolidated profit for the year	111,062	137,267	160,524	145,078	(61,877)	(53,875)	209,709	228,470
Further information required by IFRS 8
Amortization, depreciation and write-downs	90,248	85,079	31,002	28,898	-	-	121,250	113,977
Other non-monetary costs	10,054	8,043	14,147	8,995	(7,980)	(1,511)	16,221	15,527

Financial position	Hydraulic			Water-Jetting		Elimination entries		Interpump Group
€/000	2025	2024	2025	2024	2025	2024	2025	2024
Assets of the sector	2,127,181	2,109,648	916,767	950,754	(61,014)	(61,267)	2,982,934	2,999,135
Assets held for sale	-	-	-	-	-	-	-	-
Assets of the sector (A)	2,127,181	2,109,648	916,767	950,754	(61,014)	(61,267)	2,982,934	2,999,135
Cash and cash equivalents							415,704	392,637
Total assets							3,398,638	3,391,772
Liabilities of the sector (B)	367,851	357,197	189,881	207,753	(61,014)	(61,267)	496,718	503,683
Debts for the acquisition of equity investments							85,016	67,071
Bank debts							33,688	33,236
Interest-bearing financial debts							673,115	768,445
Total liabilities							1,288,537	1,372,435
Total assets, net (A-B)	1,759,330	1,752,451	726,886	743,001			2,486,216	2,495,452
Further information required by IFRS 8
Investments measured using the equity method	1,701	1,402	1,410	580			3,111	1,982
Non-current assets other than financial assets and deferred tax assets	1,303,169	1,278,703	486,987	495,239			1,790,156	1,773,942

At constant perimeter, the Hydraulic sector is compared as follows:

€/000	2025	2024
Revenues outside the Group	1,321,627	1,407,494
Inter-sector revenues	2,508	2,656
Total revenues	1,324,135	1,410,150
Cost of sales	(930,013)	(996,640)
Gross profit	394,122	413,510
% of revenues	29.8%	29.3%
Other net revenues	29,194	28,747
Distribution expenses	(97,834)	(99,618)
General and administrative expenses	(148,193)	(143,508)
Other operating costs	(8,421)	(8,040)
EBIT	168,868	191,091
% of revenues	12.8%	13.6%
Financial income	18,774	20,324
Financial expenses	(29,969)	(25,972)
Dividends	-	-
Equity method contribution	205	338
Profit before taxes	157,878	185,781
Income taxes	(49,322)	(48,514)
Consolidated profit for the year	108,556	137,267
Attributable to:
Shareholders of Parent	107,853	136,575
Minority shareholders of subsidiaries	703	692
Consolidated profit for the year	108,556	137,267

The Water Je�ng sector is compared as follows, at constant perimeter:

€/000	2025	2024
Revenues outside the Group	699,898	670,905
Inter-sector revenues	5,126	4,301
Total revenues	705,024	675,206
Cost of sales	(385,214)	(375,121)
Gross profit	319,810	300,085
% of revenues	45.4%	44.4%
Other net revenues	13,555	8,922
Distribution expenses	(84,669)	(74,603)
General and administrative expenses	(88,044)	(84,183)
Other operating costs	(1,374)	(3,498)
EBIT	159,278	146,723
% of revenues	22.6%	21.7%
Financial income	8,497	17,584
Financial expenses	(34,563)	(39,020)
Dividends	69,857	55,386
Equity method contribution	(7,931)	(1,547)
Profit before taxes	195,138	179,126
Income taxes	(37,181)	(34,048)
Consolidated profit for the year	157,957	145,078
Attributable to:
Shareholders of Parent	157,085	144,351
Minority shareholders of subsidiaries	872	727
Consolidated profit for the year	157,957	145,078

Cash flows for the year by business sector are as follows:

	Hydraulic		Water-Jetting			Total
€/000	2025	2024	2025	2024	2025	2024
Operating activities	209,179	259,065	124,774	98,013	333,953	357,078
Investing activities	(103,897)	(109,700)	(25,711)	(105,867)	(129,608)	(215,567)
Financing activities	(89,125)	(92,639)	(82,827)	27,980	(171,952)	(64,659)
Total	16,157	56,726	16,236	20,126	32,393	76,852

Inves�ng ac�vi�es in the Hydraulic sector included € 37,644 thousand associated with the acquisi�on of equity investments (€ 14,887 thousand in 2024) and expenditure on property, plant and equipment totaling € 65,546 thousand (€ 95,857 thousand in 2024).

Inves�ng ac�vi�es in the Water-Je�ng sector included net ou�lows of € 821 thousand associated with the acquisi�on of equity investments (€ 74,324 thousand in 2024) and expenditure on property, plant and equipment totaling € 26,228 thousand (€ 33,329 thousand in 2024).

The cash flows deriving from the financing ac�vi�es of the Water-Je�ng sector principally comprise the payment of dividends of € 35,504 thousand (€ 34,379 thousand in 2024), outlays for the purchase of treasury shares amoun�ng to € 16,594 thousand (€ 10,337 thousand in 2024), and proceeds from the sale of treasury shares to the beneficiaries of stock op�ons totaling € 4,754 thousand (€ 581 thousand in 2024).

The cash flows deriving from the financing ac�vi�es of the Hydraulic sector include the payment of dividends to Water-Je�ng Sector companies totaling € 69,857 thousand (€ 55,386 thousand in 2024).

Geographical areas

Revenues are analyzed below by the five geographical areas iden�fied:

€/000	2025	%	2024	%	Change
Italy	322,599	16	310,453	15	3.9%
Europe (Italy excluded)	728,353	35	720,058	35	1.2%
North America	519,355	25	576,076	28	-9.8%
Far East and Pacific Area	271,012	13	261,309	13	3.7%
Rest of the World	229,365	11	210,503	10	9.0%
Total	2,070,684	100	2,078,399	100	-0.4%

See Note 2.9.5 Credit risk for informa�on about the concentra�on of revenues.

Non-current assets other than financial assets and deferred tax assets are analyzed by geographical area below, based on their loca�on:

€/000	31/12/2025	31/12/2024
Italy	986,463	939,351
Europe (Italy excluded)	442,840	436,710
North America	232,170	265,125
Far East and Pacific Area	39,942	46,311
Rest of the World	88,741	86,444
Total	1,790,156	1,773,941

The geographical areas to which opera�ons are assigned depend on the na�onality of the company performing them. No companies have opera�ons in more than one area.

2.5 Business combina�ons

Inoxpa China Flow Technology Co., Ltd

On 9 April 2024 Interpump Group announced the acquisi�on, through its subsidiary Inoxpa SAU, of a 60%28 equity interest in YRP (Shanghai) Flow Technology Co., Ltd. (now Inoxpa China Flow Technology Co., Ltd.). With support from the Inoxpa group, the company was formed in 2016 to distribute components, valves, pumps and actuators in China, as the exclusive distributor for the Inoxpa group in the region. The total value of the transac�on was set at about € 1.5 million.

The defini�ve purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	945	-	945
Trade receivables	798	-	798
Inventories	802	-	802
Other current assets	399	-	399
Property, plant and equipment	1,573	-	1,573
Deferred tax assets	109	-	109
Other non-current assets	47	-	47
Trade payables	(1,364)	-	(1,364)
Leasing payables (current portion)	(115)	-	(115)
Tax liabilities	(6)	-	(6)
Other current liabilities	(114)	-	(114)
Leasing payables (non-current portion)	(1,264)	-	(1,264)
Non-controlling interests	(854)	-	(854)
Net assets acquired	956	-	956
Goodwill related to the acquisition			688
Total net assets acquired			1,644
Total amount paid in cash			1,544
10% interest already held by Inoxpa SAU			100
Total acquisition cost (A)			1,644
Net financial position acquired (B)			434
Total amount paid in cash			1,544
10% interest already held by Inoxpa SAU			100
Total change in net financial position			2,078
Capital employed (A) + (B)			2,078

The amounts for the company were translated using the exchange rates at 31 March 2024.

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Water-Je�ng CGU and is not relevant for tax purposes.

²⁸ Through Inoxpa SAU, the Group already held 10% of Inoxpa China Flow Technology Co., Ltd.

Shanghai PuPeng Flow Technology Co., Ltd

On 9 April 2024 Interpump Group announced the acquisi�on, through its subsidiary Inoxpa SAU, of a 60% equity interest in Process Partner China Co., Ltd., now Shanghai PuPeng Flow Technology Co., Ltd. This company was founded in 2015 and specializes in the produc�on and sale of plant and complete solu�ons for the food processing industry, especially dairy. The total value of the transac�on was set at about € 1.4 million.

The defini�ve purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	1,494	-	1,494
Trade receivables	2,217	-	2,217
Inventories	134	-	134
Other current assets	662	-	662
Property, plant and equipment	129	-	129
Other non-current assets	2	-	2
Trade payables	(1,940)	-	(1,940)
Financial debts to banks - loans (current portion)	(384)	-	(384)
Tax liabilities	(46)		(46)
Other current liabilities	(520)	-	(520)
Non-controlling interests	(699)	-	(699)
Net assets acquired	1,049	-	1,049
Goodwill related to the acquisition			351
Total net assets acquired			1,400
Total amount paid in cash			1,400
Total acquisition cost (A)			1,400
Net financial position acquired (B)			(1,110)
Total amount paid in cash			1,400
Total change in net financial position			290
Capital employed (A) + (B)			290

The amounts for the company were translated using the exchange rates at 31 March 2024.

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Water-Je�ng CGU and is not relevant for tax purposes.

Alltube Engineering Ltd

On 22 April 2024, Interpump Group announced the acquisi�on, through Interpump Hydraulics Ltd., a Bri�sh subsidiary, of the en�re share capital of Alltube Engineering Ltd. Founded in 1986 and backed by decades of design and manufacturing experience, this company specializes in the processing of rigid and flexible hydraulic hoses. In the previous financial year, the company generated turnover of about € 5 million, with an EBITDA margin of about 15%. The total considera�on paid for the transac�on was € 2.3 million.

The defini�ve purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	1,399	-	1,399
Trade receivables	817	-	817
Inventories	507	-	507
Other current assets	41	-	41
Property, plant and equipment	382	-	382
Trade payables	(397)	-	(397)
Tax liabilities	(378)		(378)
Other current liabilities	(58)	-	(58)
Deferred tax liabilities	(54)	-	(54)
Net assets acquired	2,259	-	2,259
Goodwill related to the acquisition			377
Total net assets acquired			2,636
Total amount paid in cash			2,636
Total acquisition cost (A)			2,636
Net financial position acquired (B)			(1,399)
Total amount paid in cash			2,636
Total change in net financial position			1,237
Capital employed (A) + (B)			1,237

The amounts for the company were translated using the exchange rates at 30 April 2024.

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes.

Alfa Valvole S.r.l.

On 3 June 2024 Interpump Group announced the acquisi�on of 100% of the capital of Alfa Valvole S.r.l. from IDEX Corpora�on, a US company.

The company is posi�oned in the high-end segment of the valves sector, given the quality and services offered to customers. Following the absorp�on of OBL (specialist in the design and produc�on of volumetric pumps) in 2021, the company became a provider of integrated solu�ons for the movement and management of industrial fluids. In 2023, the company generated turnover of about € 28 million, with an EBITDA margin of about 26%. The total price agreed for the transac�on was € 55.2 million.

The defini�ve purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	13,375	-	13,375
Trade receivables	7,992	-	7,992
Inventories	6,675	-	6,675
Tax receivables	384	-	384
Other current assets	301	-	301
Property, plant and equipment	2,841	7,273	10,114
Other intangible fixed assets	100	4,971	5,071
Deferred tax assets	654	-	654
Other non-current assets	22	-	22
Trade payables	(3,274)	-	(3,274)
Leasing payables (current portion)	(100)	-	(100)
Tax liabilities	(750)		(750)
Other current liabilities	(2,146)	-	(2,146)
Provisions for risks and charges (current portion)	(60)	-	(60)
Leasing payables (non-current portion)	(178)	-	(178)
Employee benefits (severance indemnity provision)	(941)	-	(941)
Deferred tax liabilities	(15)	(3,416)	(3,431)
Non-controlling interests	(502)	-	(502)
Net assets acquired	24,378	8,828	33,206
Goodwill related to the acquisition			21,740
Total net assets acquired			54,946
Total amount paid in cash			54,946
Total acquisition cost (A)			54,946
Net financial position acquired (B)			(13,097)
Total amount paid in cash			54,946
Total change in net financial position			41,849
Capital employed (A) + (B)			41,849

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Water-Je�ng CGU and is not relevant for tax purposes.

H.S. S.r.l.

On 11 July 2024, Interpump Group indirectly acquired 100% of H.S. S.r.l. through its subsidiary Inoxihp S.r.l..

This company, ac�ve in the hydraulic sector, specializes in the design and produc�on of hydraulic systems and circuits known for their high qualita�ve and manufacturing standards. In 2023, the company generated turnover of about € 4 million. The total price agreed for the transac�on was € 0.1 million.

The defini�ve purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	88	-	88
Trade receivables	2,311	-	2,311
Inventories	1,078	-	1,078
Tax receivables	44	-	44
Other current assets	8	-	8
Property, plant and equipment	385	-	385
Other intangible fixed assets	10	-	10
Deferred tax assets	228	-	228
Other non-current assets	50	-	50
Trade payables	(1,549)	-	(1,549)
Bank debts	(569)	-	(569)
Financial debts to banks - loans (current portion)	(216)	-	(216)
Leasing payables (current portion)	(124)	-	(124)
Tax liabilities	(71)	-	(71)
Other current liabilities	(284)	-	(284)
Financial debts to banks – loans (non-current portion)	(256)	-	(256)
Leasing payables (non-current portion)	(194)	-	(194)
Employee benefits (severance indemnity provision)	(652)	-	(652)
Deferred tax liabilities	(8)		(8)
Net assets acquired	279	-	279
Negative goodwill related to the acquisition			(179)
Total net assets acquired			100
Total amount paid in cash			100
Total acquisition cost (A)			100
Net financial position acquired (B)			1,271
Total amount paid in cash			100
Total change in net financial position			1,371
Capital employed (A) + (B)			1,371

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Water-Je�ng CGU and is not relevant for tax purposes.

Hidrover Equipamentos Hidráulicos Ltda

On 24 October 2024, the Interpump Group signed a binding agreement to purchase, through its subsidiary Interpump Hydraulics Brasil Ltda., 59% of the capital of Hidrover Equipamentos Hidráulicos Ltda., which operates in the hydraulic cylinders sector.

This company specializes in the produc�on of hydraulic cylinders, covering the en�re produc�on process and focusing on the construc�on and agricultural markets. The price paid for opera�on was approximately € 17.5 million and "put&call" mechanisms have already been defined, through which the Group may acquire the residual 41% equity interest in four tranches. The first two (corresponding to a 16% interest) will be exercisable following approval of the 2025 financial statements, while the other two (corresponding to the remaining 25% interest) will be exercisable following approval of the 2029 financial statements.

The defini�ve purchase price alloca�on is presented below:

	Amounts	Adjustments to	Carrying amounts in the
€/000	acquired	fair value	acquiring
			company
Cash and cash equivalents	3,626	-	3,626
Trade receivables	2,990	-	2,990
Inventories	5,083	-	5,083
Tax receivables	291	-	291
Other current assets	63	-	63
Property, plant and equipment	4,023	5,848	9,939
Other intangible fixed assets	29	3,018	3,047
Deferred tax assets	628	-	628
Other non-current assets	10	-	10
Trade payables	(1,931)	-	(1,931)
Financial debts to banks - loans (current portion)	(2)	-	(2)
Leasing payables (current portion)	(24)	-	(24)
Tax liabilities	(210)	-	(210)
Other current liabilities	(1,065)	-	(1,065)
Financial debts to banks – loans (non-current portion)	(138)	-	(138)
Leasing payables (non-current portion)	(44)	-	(44)
Provisions for risks and charges (current portion)	(24)	-	(24)
Provision for risks and charges (non-current portion)	(691)	-	(691)
Deferred tax liabilities	-	(3,014)	(3,014)
Net assets acquired	12,682	5,852	18,534
Goodwill related to the acquisition			17,210
Total net assets acquired			35,744
Total amount paid in cash			13,541
Payables related to the acquisition of investments			22,203
Total acquisition cost (A)			35,744
Net financial position acquired (B)			(3,418)
Total amount paid in cash			13,541
Amount payable			22,203
Total change in net financial position			32,326
Capital employed (A) + (B)			32,326

The amounts for the company were translated using the exchange rates at 30 November 2024.

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes.

Padoan group

On 16 June 2025, Interpump Group signed a binding contract to acquire, through its subsidiary Interpump Hydraulics S.p.A., 65% of the quota capital of Padoan S.r.l., a company specialized in the supply of tanks for industrial vehicles and machinery, with effect from 1 July 2025.

Founded in 1937 and based in Olmi di S. Biagio di Callalta (TV) with over 50 employees, the company closed 2024 with turnover of about € 15 million and an EBITDA margin in excess of 17%. The total enterprise value of Padoan was set at about € 16 million and "put & call" mechanisms have been defined so that Interpump Group can acquire the residual quotas from July 2030.

€/000 Amounts acquired Adjustments to fair value Carrying amounts in the acquiring company Cash and cash equivalents 2,112 - 2,112 Trade receivables 2,997 - 2,997 Inventories 3,201 - 3,201 Tax receivables 228 - 228 Other current assets 342 - 342 Property, plant and equipment 7,546 - 7,546 Other intangible fixed assets 614 - 614 Other financial fixed assets 134 - 134 Deferred tax assets 79 - 79 Other non-current assets 89 - 89 Trade payables (2,604) - (2,604) Bank debts (1,409) - (1,409) Financial debts to banks - loans (current portion) (1,310) - (1,310) Leasing payables (current portion) (10) - (10) Tax liabilities (904) - (904) Other current liabilities (841) - (841) Financial debts to banks – loans (non-current portion) (3,498) - (3,498) Provisions for risks and charges (current portion) (15) - (15) Leasing payables (non-current portion) (1,428) - (1,428) Provision for risks and charges (non-current portion) (128) - (128) Employee benefits (severance indemnity provision) (631) - (631) Deferred tax liabilities (4) - (4) Other non-current liabilities (1) - (1) Non-controlling interests (154) - (154) Net assets acquired 4,405 - 4,405 Goodwill related to the acquisition 14,426 Total net assets acquired 18,831 Total amount paid in cash 6,600 Payables related to the acquisition of investments 12,231 Total acquisition cost (A) 18,831 Net financial position acquired (B) 5,543 Total amount paid in cash 6,600 Amount payable 12,231 Total change in net financial position 24,374 Capital employed (A) + (B) 24,374

The provisional purchase price alloca�on is presented below:

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes. The company has been consolidated on a line-by-line basis from 1 July 2025.

Since the acquisi�on date, the company has contributed about € 9 million to the revenues of the Group, with an insignificant effect on net profit. Had the business combina�on taken place at the start of 2025, the contribu�on to Group revenues would have been € 18 million, with an effect on net profit of € 0.5 million.

Tuto Hidráulicos Ltda

On 24 October 2025 Interpump Group acquired, through its subsidiary Hidrover Ltda, the en�re share capital of Tuto Hidráulicos Ltda, a specialist company ac�ve in the hydraulic cylinders sector.

Established in 2008, the company is based in Caxias do Sul (Brazil) and employs more than 110 persons.

The provisional purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	819	-	819
Trade receivables	2,539	-	2,539
Inventories	1,132	-	1,132
Tax receivables	37	-	37
Other current assets	26	-	26
Property, plant and equipment	1,518	-	1,518
Other intangible fixed assets	15	1,441	1,456
Deferred tax assets	80	-	80
Other non-current assets	14	-	14
Trade payables	(806)	-	(806)
Financial debts to banks - loans (current portion)	(12)	-	(12)
Leasing payables (current portion)	(183)	-	(183)
Tax liabilities	(557)	-	(557)
Other current liabilities	(298)	-	(298)
Provisions for risks and charges (current portion)	(14)	-	(14)
Leasing payables (non-current portion)	(290)	-	(290)
Provision for risks and charges (non-current portion)	(965)	-	(965)
Deferred tax liabilities	-	(490)	(490)
Net assets acquired	3,055	951	4,006
Goodwill related to the acquisition			8,444
Total net assets acquired			12,450
Total amount paid in cash			6,848
Payables related to the acquisition of investments			5,602
Total acquisition cost (A)			12,450
Net financial position acquired (B)			(334)
Total amount paid in cash			6,848
Amount payable			5,602
Total change in net financial position			12,116
Capital employed (A) + (B)			12,116

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes. The company has been consolidated on a line-by-line basis from 1 November 2025.

Since the acquisi�on date, the company has contributed € 1.3 million to the revenues of the Group, with an insignificant effect on net profit. Had the business combina�on taken place at the start of 2025, the contribu�on to Group revenues would have been € 11.6 million, with an effect on net profit of € 1.3 million.

Borghi Assali S.r.l.

On 4 November 2025 Interpump Group acquired, through its subsidiary Reggiana Ridutori S.r.l., 70% of the quota capital of Borghi Assali S.r.l., a specialist company ac�ve in the design and produc�on of hydraulic and electric steering axles for industrial vehicles.

Founded in 1971 and based in Bomporto (MO, Italy), the company closed 2024 with turnover in excess of € 12 million and an EBITDA margin of about 15%. Borghi Assali was valued at about € 8 million (for 100%) and "put & call" mechanisms have been defined so that Interpump Group can acquire the residual quotas from October 2030.

The provisional purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	3,180	-	3,180
Trade receivables	970	-	970
Inventories	4,913	-	4,913
Tax receivables	492	-	492
Other current assets	1,027	-	1,027
Property, plant and equipment	5,957	-	5,957
Other intangible fixed assets	84	-	84
Deferred tax assets	449	-	449
Trade payables	(1,791)	-	(1,791)
Bank debts	(19)	-	(19)
Financial debts to banks - loans (current portion)	(693)	-	(693)
Tax liabilities	(1,734)	-	(1,734)
Other current liabilities	(688)	-	(688)
Financial debts to banks – loans (non-current portion)	(281)	-	(281)
Provisions for risks and charges (current portion)	(364)	-	(364)
Leasing payables (non-current portion)	(2,957)	-	(2,957)
Employee benefits (severance indemnity provision)	(383)	-	(383)
Deferred tax liabilities	(16)	-	(16)
Net assets acquired	8,146	-	8,146
Negative goodwill related to the acquisition			(400)
Total net assets acquired			7,746
Total amount paid in cash			5,170
Payables related to the acquisition of investments			2,576
Total acquisition cost (A)			7,746
Net financial position acquired (B)			770
Total amount paid in cash			5,170
Amount payable			2,576
Total change in net financial position			8,516
Capital employed (A) + (B)			8,516

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes. The company has been consolidated on a line-by-line basis from 1 November 2025.

Since the acquisi�on date, the company has contributed € 1.2 million to the revenues of the Group, with an insignificant effect on net profit. Had the business combina�on taken place at the start of 2025,

the contribu�on to Group revenues would have been € 8.5 million, with an insignificant effect on net profit.

F.A.R.M.A. group

On 18 December 2025 Interpump Group acquired, through its subsidiary Interpump Hydraulics Spa, the en�re share capital of F.A.R.M.A. Srl, a specialist company ac�ve in the design and produc�on of component parts for storage tanks.

Established in 1975 and based in Medicina (BO, Italy), the company was valued at about € 22 million.

The provisional purchase price alloca�on is presented below:

€/000	Amounts acquired	Adjustments to fair value	Carrying amounts in the acquiring company
Cash and cash equivalents	5,612	-	5,612
Trade receivables	3,841	-	3,841
Inventories	2,119	-	2,119
Tax receivables	136	-	136
Other current assets	150	-	150
Property, plant and equipment	2,465	-	2,465
Other intangible fixed assets	29	-	29
Deferred tax assets	51	-	51
Other non-current assets	70	-	70
Non-current tax receivables	15	-	15
Trade payables	(1,791)	-	(1,791)
Bank debts	(5)	-	(5)
Financial debts to banks - loans (current portion)	(1,412)	-	(1,412)
Tax liabilities	(194)	-	(194)
Other current liabilities	(507)	-	(507)
Financial debts to banks – loans (non-current portion)	(361)	-	(361)
Provisions for risks and charges (current portion)	(250)	-	(250)
Leasing payables (non-current portion)	(1,535)	-	(1,535)
Employee benefits (severance indemnity provision)	(1,329)	-	(1,329)
Net assets acquired	7,104	-	7,104
Goodwill related to the acquisition			19,668
Total net assets acquired			26,772
Total amount paid in cash			25,102
Payables related to the acquisition of investments			1,670
Total acquisition cost (A)			26,772
Net financial position acquired (B)			(2,299)
Total amount paid in cash			25,102
Amount payable			1,670
Total change in net financial position			24,473
Capital employed (A) + (B)			24,473

The transac�on was accounted for using the acquisi�on method.

The goodwill was allocated in full to the Hydraulic CGU and is not relevant for tax purposes. The company has been consolidated on a line-by-line basis from 31 December 2025.

The F.A.R.M.A. group did not contributed to the 2025 revenues of the Group, as only the balance sheet has been consolidated at year end. The economic effects of the acquisi�on will be recognized with effect from 1 January 2026.

2.6 Notes to the principal cap�ons in the statement of financial posi�on

2.6.1 Cash and cash equivalents

€/000	31/12/2025	31/12/2024
Cash	122	91
Bank deposits	411,610	380,117
Other liquid funds	3,972	12,429
Total	415,704	392,637

Cash and cash equivalents at 31 December 2025 include amounts denominated in foreign currencies, as shown below:

/000	Amounts in €	Amount in original currency
Euro	295,799	295,799
US Dollar	34,723	40,797
Chinese Renminbi	28,301	232,797
Brazilian Real	15,025	96,704
Indian Rupee	12,069	1,274,328
UK Pound	5,307	4,630
Korean Won	4,392	7,452,822
New Zealand Dollar	3,983	8,117
Canadian Dollar	2,999	4,823
Australian Dollar	2,024	3,557
Danish Krone	1,569	11,719
Columbian Peso	1,564	6,933,417
Turkish Lira	1,557	78,617
South African Rand	1,492	29,018
Polish Zloty	1,266	5,346
Russian Ruble	1,058	97,462
Bulgarian Lev	753	1,472
Swedish Krona	503	5,439
Ukrainian Hryvnia	340	16,942
Mexican Peso	248	5,234
Swiss Franc	244	227
Chilean Peso	212	224,927
Singapore Dollar	108	163
Romanian Leu	84	427
Moldovan Leu	79	1,565
Other minor currencies	5	n.a.
Total	415,704

At 31 December 2025, bank deposits include deposits and restricted accounts with a total no�onal balance of € 32.9 million at an average fixed interest rate of 3.15%.

Investment of the Group's liquidity made it possible to achieve an average yield of 1.62% in 2025 (1.86% in 2024).

2.6.2 Trade receivables

€/000	31/12/2025	31/12/2024
Trade receivables, gross	410,817	400,994
Bad debt provision	(13,564)	(15,031)
Trade receivables, net	397,253	385,963

Changes in the bad debt provision were as follows:

€/000	2025	2024
Opening balances	15,031	13,992
Exchange difference	(460)	170
Change in consolidation perimeter	278	431
Reclassifications	-	-
Provisions for the year	1,694	2,994
Reversal in the year due to surpluses	(1,982)	(1,248)
Utilizations in the year	(997)	(1,308)
Closing balance	13,564	15,031

Provisions in the year are booked under other opera�ng costs. At 31 December 2025, trade receivables due beyond 12 months total € 554 thousand, while there are no trade payables due beyond 12 months. Further informa�on is provided in Note 2.9 - Information on risks.

2.6.3 Inventories

€/000	31/12/2025	31/12/2024
Raw materials and components	237,715	266,682
Semi-finished products	201,038	187,291
Finished products	240,231	246,641
Total inventories	678,984	700,614

Inventories are stated net of an allowance that has changed as indicated below:

€/000	2025	2024
Opening balances	56,468	48,971
Exchange difference	(2,361)	739
Change in consolidation perimeter	1,301	3,315
Provisions for the year	11,207	6,994
Utilizations in the year	(3,648)	(2,326)
Reversal in the year due to surpluses	(1,429)	(1,225)
Closing balance	61,538	56,468

2.6.4 Tax receivables and Other current assets

Tax receivables are analyzed below:

€/000	31/12/2025	31/12/2024
Current taxes	15,392	25,468
VAT recoverable	16,910	18,588
Withholding taxes	1,275	1,757
Other tax receivables	7,631	10,568
Total tax receivables	41,208	56,381

Other tax receivables principally include other indirect tax credits (including flat tax credits) and tax credits.

Other current assets are analyzed below:

€/000	31/12/2025	31/12/2024
Accrued income and prepaid expenses	13,143	11,701
Price adjustments receivable	-	1,894
Other receivables	12,603	17,918
Other current assets	2,436	3,134
Total other current assets	28,182	34,647

The Other receivables and Other current assets sec�on includes all receivables and assets not classified elsewhere, such as advances to suppliers, grants receivable, amounts due from employees and social security ins�tu�ons, and guarantee deposits paid, recoverable within twelve months.

2.6.5 Property, plant and equipment

€/000	Land and	Plant and	Equipment	Other assets	Total
	buildings	machinery
At 1 January 2024
Cost	482,226	724,681	186,700	146,889	1,540,496
Accumulated depreciation	(110,866)	(403,166)	(149,548)	(91,005)	(754,585)
Net carrying amount	371,360	321,515	37,152	55,884	785,911
Changes in 2024
Opening net carrying amount	371,360	321,515	37,152	55,884	785,911
Exchange differences	5,175	4,061	818	2,257	12,311
Change in consolidation perimeter	11,778	3,981	182	658	16,599
Additions	44,296	63,497	11,310	19,974	139,077
Recognition of right-to-use assets	8,557	242	103	4,632	13,534
Disposals	(729)	(2,889)	-	(4,812)	(8,430)
Early close-out of right-to-use assets	(3,670)	(21)	(21)	(275)	(3,987)
Remeasurement of right-to-use assets	140	1	-	24	165
Reclassifications	49	(3,540)	3,068	172	(251)
Capitalized depreciation	(72)	(9)	(5)	(1)	(87)
Revaluations	-	107	-	-	107
Write-downs	-	(203)	(68)	-	(271)
Depreciation	(26,736)	(49,447)	(11,262)	(13,486)	(100,931)
Closing net carrying amount	410,148	337,295	41,277	65,027	853,747
At 31 December 2024
Cost	538,804	789,440	200,917	164,319	1,693,480
Accumulated depreciation	(128,656)	(452,145)	(159,640)	(99,292)	(839,733)
Net carrying amount	410,148	337,295	41,277	65,027	853,747
Changes in 2025
Opening net carrying amount	410,148	337,295	41,277	65,027	853,747
Exchange differences	(13,780)	(10,547)	(2,179)	(5,218)	(31,724)
Change in consolidation perimeter	9,733	6,327	866	560	17,486
Additions	34,993	40,070	11,775	17,557	104,395
Recognition of right-to-use assets	7,880	97	793	6,012	14,782
Disposals	(1,325)	(2,313)	(411)	(2,720)	(6,769)
Early close-out of right-to-use assets	(1,064)	(1)	(183)	(120)	(1,368)
Remeasurement of right-to-use assets	2,464	(4)	-	(1)	2,459
Reclassifications	(224)	680	(84)	(639)	(267)
Capitalized depreciation	(81)	(24)	(5)	(1)	(111)
Revaluations	-	-	-	-	-
Write-downs Depreciation	(241) (28,694)	(1,486) (49,892)	(2) (12,923)	- (14,784)	(1,729) (106,293)
Closing net carrying amount	419,809	320,202	38,924	65,673	844,608
At 31 December 2025
Cost	561,149	805,917	214,246	163,573	1,744,885
Accumulated depreciation	(141,340)	(485,715)	(175,322)	(97,900)	(900,277)
Net carrying amount	419,809	320,202	38,924	65,673	844,608

The cost of assets under construc�on, included in the net carrying amounts disclosed in the previous table, is as follows:

B. CONSOLIDATED FINANCIAL STATEMENTS

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
At 1 January 2024	32,631	40,130	457	195	73,413
At 31 December 2024	24,521	45,689	620	462	71,292
At 31 December 2025	13,857	17,348	527	374	32,106

The net carrying amount of leased assets at 31 December is analyzed below:

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
At 31 December 2024	81,330	1,643	1,262	8,786	93,021
At 31 December 2025	76,429	4,652	1,488	9,749	92,318

Deprecia�on of € 88,086 thousand was charged to the cost of sales (€ 83,779 thousand in 2024), € 8,609 thousand to distribu�on costs (€ 7,581 thousand in 2024) and € 9,598 thousand to general and administra�ve expenses (€ 9,571 thousand in 2024).

At 31 December 2025 the Group has contractual commitments for the purchase of property, plant and equipment totaling € 5,935 thousand (€ 9,601 thousand at 31 December 2024).

At 31 December 2025 property, plant and equipment are not burdened by mortgages and/or specific guarantees.

Further informa�on is provided in Notes 2.10 - Notes to the cash flow statement and 2.11 - Commitments.

2.6.6 Goodwill

Changes in goodwill were as follows in 2025:

€/000	Balance at 31/12/2024	Increases in the year	Decreases in the year	Changes due to exchange-rate differences	Balance at 31/12/2025
Water Jetting	256,172	-	-	(5,361)	250811
Hydraulic	581,626	42,538	(7,571)	(1,563)	615,030
Total goodwill	837,798	42,538	(7,571)	(6,924)	865,841

The increase during the year, en�rely in the Hydraulic sector, reflects acquisi�on of the Padoan group, Tuto Hidráulicos Ltda, and the F.A.R.M.A. group.

The decrease during the year, also en�rely in the Hydraulic sector, reflects adjustment of the PPA determined for Hidrover Equipamentos Hidráulicos Ltda.

The changes due to foreign exchange differences relate to the goodwill denominated in foreign currencies.

The goodwill acquired through business combina�ons was allocated, for impairment tes�ng purposes, to the Water-Je�ng and Hydraulic CGUs, which correspond to the two opera�ng sectors about which specific informa�on has been disclosed.

The Group carried out an impairment test on 31 December 2025. When reviewing its impairment indicators, among other factors the Group also takes into considera�on its stock market capitaliza�on, which exceeded the shareholders' equity of the Group throughout 2025 and in early 2026. The recoverable value iden�fied from the impairment test was determined from the value-in-use calcula�on carried out using the Discounted Cash Flow (DCF) method, net of current taxes. Expected cash flows u�lized in the calcula�on of DCF were determined on the basis of 5-year business plans (2026-2030) that take account of the various reference scenarios, and of growth forecasts in the various markets.

With regard to prepara�on of the five-year business plans, the Group recognizes some exposure, not quan�fiable at this �me, to the impacts of future, more restric�ve laws and regula�ons governing energy efficiency and climate change, as well as of other changes in the applicable legal and regulatory framework that might affect the ac�vi�es of the Group. The five-year business plans that support the impairment test of goodwill do not contain specific risk provisions in this regard but, nevertheless, were prepared in a prudent manner that contain the expected level of future cash flows.

In par�cular, the Group considers that the sales policies adopted in prior years, aimed at improving the integra�on of its produc�on and distribu�on networks and consolida�ng the growth of several important outlet markets for the Group, will make it possible to increase revenues in the period 2026- 2030 by around 3.1% for the "Water Je�ng" CGU and about 6.9% for the "Hydraulic" CGU, with stable margins overall.

A pruden�al perpetual growth rate of 1% was applied for periods a�er 2030 for the "Hydraulic" CGU, while a perpetual growth rate of 1.5% was applied for the "Water Je�ng Sector" CGU due to the sustainability over �me of the compe��ve advantages of the individual CGUs.

The projected cash flows determined in this manner were reduced by a discount factor in order to take account of the risk that future plans could become imprac�cable. The weighted average cost of capital (WACC) a�er tax was measured for the various CGUs as follows:

CGU	WACC
Water Jetting	8.85%
Hydraulics	9.28%
Weighted average cost of capital	9.12%

The WACC u�lized in 2024 was 8.62%.

The sensi�vity analysis required in the joint Bank of Italy, Consob, ISVAP document dated 3 March 2010 was also carried out. No impairment losses on goodwill were iden�fied on reducing the expected cash flows of each CGU by 10%, or on increasing by 0.5% the cost of capital used to discount those expected cash flows.

2.6.7 Other intangible fixed assets

Patents,
	Product	trademarks	Other
€/000	development	and related	intangible	Total
	expenses	rights, and	assets
		industrial rights
At 1 January 2024
Cost	47,408	116,261	32,508	196,177
Accumulated amortization	(34,425)	(68,211)	(22,768)	(125,404)
Net carrying amount	12,983	48,050	9,740	70,773
Changes in 2024
Opening net carrying amount	12,983	48,050	9,740	70,773
Exchange differences	(161)	(457)	118	(500)
Change in consolidation perimeter	-	10,215	199	10,414
Increases	2,977	446	5,693	9,116
Decreases	(28)	-	-	(28)
Reclassifications	(1,442)	82	1,256	(104)
Write-downs	(88)	(8)	-	(96)
Capitalized amortization	-	-	-	-
Amortization Closing net carrying amount	(1,718) 12,523	(7,819) 50,509	(3,142) 13,864	(12,679) 76,896
At 31 December 2024
Cost	48,530	126,835	40,464	215,829
Accumulated amortization	(36,007)	(76,326)	(26,600)	(138,933)
Net carrying amount	12,523	50,509	13,864	76,896
Changes in 2025
Opening net carrying amount	12,523	50,509	13,864	76,896
Exchange differences	(142)	(984)	(698)	(1,824)
Change in consolidation perimeter	-	1,936	247	2,183
Increases	2,814	1,791	5,176	9,781
Decreases	(8)	(5)	0	(13)
Reclassifications	(2,661)	70	2,856	265
Write-downs	(215)	(69)	-	(284)
Capitalized amortization	-	-	-	-
Amortization	(1,873)	(6,869)	(4,202)	(12,944)
Closing net carrying amount	10,438	46,379	17,243	74,060
At 31 December 2025
Cost	47,370	127,210	48,903	223,483
Accumulated amortization	(36,932)	(80,831)	(31,660)	(149,423)
Net carrying amount	10,438	46,379	17,243	74,060

The cost of assets in progress, included in the net carrying amounts reported above, is as follows:

€/000	Product development expenses	Patents, trademarks and related rights, and industrial rights	Other intangible fixed assets	Total
At 1 January 2024	10,361	16	3,733	14,110
At 31 December 2024	8,141	16	5,461	13,618
At 31 December 2025	5,752	596	2,820	9,168

The Group has assessed the recoverability of assets in progress without iden�fying any evidence of impairment.

Amor�za�on was charged in full to general and administra�ve costs. Product development costs consist mainly of capitalized internal costs.

2.6.8 Other financial assets

This item comprises:

€/000	31/12/2025	31/12/2024
Investments in non-consolidated subsidiaries	3,111	1,982
Assets servicing employee benefits	1,745	1,652
Loans to non-consolidated subsidiaries	250	-
Other financial assets	433	314
Total	5,539	3,948

The following changes were recorded:

€/000	2025	2024
Opening balance	3,948	3,293
Exchange differences	(92)	(225)
Change in consolidation perimeter	923	196
Reclassifications	(140)	(28)
Increases in the year	1,171	741
Change in fair value	38	32
Decreases in the year	(309)	(61)
Closing balance	5,539	3,948

Breakdown of the value of investments in non-consolidated subsidiaries:

€/000	31/12/2025	% held	31/12/2024	% held
Interpump Hydraulics RUS	1,532	100%	1,170	100%
General Pump China	587	100%	580	100%
Interpump Antriebstechnik GmbH	55	100%	36	100%
Walvoil Fluid Power Mexico S.A. DE C.V.	86	100%	196	100%
Nuova S.M. S.r.l.	823	100%	-	100%
Interpump Hydraulics Perù S.a.c.	28	90%	-	90%
Hammelmann Vostok	-	100%	-	100%
Total non-consolidated subsidiaries	3,111		1,982

General Pump China, Interpump Hydraulics RUS, Interpump Hydraulics Perù, Hammelmann Vostok, Interpump Antriebstechnik, Walvoil Mexico and Nuova S.M. S.r.l. are subsidiaries, but they have not been consolidated due to their limited size.

The value of the investment in Interpump Hydraulics Perù, a distribu�on company based in Lima that was incorporated at the end of 2015 to strengthen the Group's direct presence in South America, was writen off in 2024 and a provision for risks of € 140 thousand was recorded to cover losses, which were mainly incurred by the company during the start-up phase. This investment was revalued in 2025 as a consequence of the posi�ve results obtained by the company during the year.

Hammelmann Vostok was established at the end of 2021 in order to support the sales of Hammelmann in Russia and ensure an increased presence in that market. The value of this investment has been writen off, in view of the ongoing Russia-Ukraine conflict.

Walvoil Fluid Power Mexico was established during 2024 in order to develop, over the coming years, the sales of hydraulic and electronic products in the local market. The value of this investment, s�ll in the start-up phase, was writen down during 2025 in view of its performance during the year.

Nuova S.M. S.r.l. was acquired in 2025 thorugh Pioli S.r.l., a subsidiary. The company specializes in the processing of metals for third par�es.

In rela�on to financial instruments recorded at fair value in the statement of financial posi�on (assets servicing employee benefits and other financial assets), interna�onal accoun�ng standards require that said values be classified on the basis of a hierarchy of levels that reflects the significance of the inputs u�lized to establish the fair value and subdivided on the basis of the recurrence in their measurement. Interna�onal accoun�ng standards iden�fy the following levels:

• Level 1 quota�ons recorded on an ac�ve market for assets and liabili�es subject to measurement;
• Level 2 inputs other than the price quota�ons men�oned in the above point, which are directly (prices) or indirectly (price deriva�ves) observable in the market;
• Level 3 inputs that are not based on empirical market data.

The following table shows the financial instruments measured at fair value at 31 December 2025, broken down by level:

€/000	Level 1	Level 2	Level 3	Total
Other financial assets	1,911	-	139	2,050
Total assets	1,911	-	139	2,050

No transfers between levels were carried out in 2025.

All fair value measurements shown in the above table are to be considered as recurring; the Group did not perform any non-recurring fair value measurements in 2025.

2.6.9 Deferred tax assets and liabili�es

The changes in the year of deferred tax assets and liabili�es are listed below:

	Deferred tax assets		Deferred tax liabilities
€/000	2025	2024	2025	2024
At 31 December of the previous year	43,640	72,509	32,753	54,524
Exchange differences	(1,335)	148	(3,292)	993
Change in consolidation perimeter	659	2,196	2,498	8,203
Recognized in the income statement	(830)	(6,371)	39	(2,248)
Reclassifications	(339)	(24,855)	(66)	(28,732)
Recognized directly in equity	(183)	13	36	13
At 31 December of the current year	41,612	43,640	31,968	32,753

The deferred taxes recognized directly in equity arise from remeasurement of defined benefit plans.

Deferred tax assets and liabili�es refer to the following items in the statement of financial posi�on:

	Deferred tax assets		Deferred tax liabilities
€/000	2025	2024	2025	2024
Property, plant and equipment	12,608	14,938	27,940	29,312
Rights of use	-	-	22,461	21,978
Intangible fixed assets	12,874	14,010	23,194	24,030
Equity investments	555	506	30	29
Inventories	25,822	25,566	14	0
Receivables	1,138	1,331	86	5
Liabilities for employee benefits	1,239	1,037	169	99
Leasing liabilities	16,433	17,505	-	-
Provisions for risks and charges	3,717	4,255	33	-
Tax losses carried forward	3,203	3,212	-	-
Cost of stock option plans	909	-	-	-
Other	8,432	7,480	3,359	3,500
Offset of deferred taxes	(45,318)	(46,200)	(45,318)	(46,200)
Total	41,612	43,640	31,968	32,753

No deferred tax liabili�es have been recorded for reserves qualifying for tax relief as they are not expected to be distributed (see Note 2.6.17).

2.6.10 Assets and liabili�es held for sale

The Group did not have any assets classified as held for sale at 31 December 2025.

2.6.11 Interest-bearing financial debts and Bank debts

The main loans are all subject to the following financial covenants, calculated on the consolidated values:

• Net indebtedness / Shareholders' equity;
• Net indebtedness / EBITDA;
• EBITDA / Financial expenses.

At 31 December 2025 all financial covenants are amply respected.

€/000	31/12/2025	31/12/2024
Current
Bank loans	33,688	33,236
Bank debts	212,384	223,029
Leases	19,539	18,795
Other financial debts	108	95
Total current, interest-bearing financial debts	232,031	241,919
Non-current
Bank loans	283,780	368,174
Bonds	99,517	99,424
Leases	57,538	58,630
Shareholder loans	-	-
Other financial debts	249	298
Total non-current, interest-bearing financial debts	441,084	526,526

At 31 December 2025, fixed-rate, interest-bearing loans amount to € 104,200 thousand, while the remainder are at floa�ng rates.

Bank debts and interest-bearing loans include € 27,596 thousand in currencies other than the euro, mainly comprising US dollars, Chinese renminbi, UK pounds, New Zealand dollars, Australian dollars, Romanian lei, Canadian dollars, Chilean pesos, Brazilian reals, Swiss francs and Indian rupees rela�ng to foreign subsidiaries. Amounts in currencies other than the euro are as follows:

€/000	Bank debts	Current, interest-bearing financial debts	Non-current, interest-bearing financial debts	Total
US Dollar	-	2,598	2,738	5,336
Chinese Renminbi	4	1,876	1,464	3,344
UK Pound	2	1,127	3,331	4,460
New Zealand Dollar	-	596	1,465	2,061
Indian Rupee	3	708	909	1,620
Australian Dollar	-	466	1,041	1,507
Romanian Leu	2,699	7	4	2,710
Canadian Dollar	118	335	455	908
Chilean Peso	-	184	969	953
Brazilian Real	5	482	897	1,384
South African Rand	-	220	167	387
Mexican Peso	3	124	199	326
Danish Krone	-	140	312	452
Swedish Krona	-	102	127	229
Korean Won	-	70	231	301
Polish Zloty	-	127	169	296
Swiss Franc	129	293	466	888
Russian Ruble	-	54	77	131
Singapore Dollar	-	13	-	13
Bulgarian Lev	-	10	24	34
Columbian Peso	-	64	66	130
Turkish Lira	-	65	53	118
Total	2,963	9,669	14,964	27,596

The following rates were charged on the interest-bearing financial debts:

%	31/12/2025	31/12/2024
Bank debts	Euribor + 0.91 (average spread)	Euribor + 0.82 (average spread)
Bonds	4.17	4.17
Finance leases	6.17	6.01

No outstanding loans are backed by guarantees at 31 December 2025 or were backed by guarantees during the year.

Breakdown of lease payables at 31 December:

		31 December 2025				31 December 2024
€/000	Within 1 year	Betwee n 1 and 5 years	Beyond 5 years	Total	Within 1 year	Betwee n 1 and 5 years	Beyond 5 years	Total
Payment of lease installments	22,623	44,304	22,171	89,098	22,633	46,800	23,791	93,224
Interest	(3,084)	(6,262)	(2,675)	(12,021)	(3,838)	(9,548)	(2,413)	(15,799)
Present value of lease payables	19,539	38,042	19,496	77,077	18,795	37,252	21,378	77,425

At 31 December 2025 the Group is party to several leasing contracts for industrial buildings, plant and machinery, the carrying amount of which, totaling € 92,318 thousand (€ 93,021 thousand at 31 December 2024), is classified under Property, plant and equipment (Note 2.6.5).

Non-current interest-bearing financial debts fall due as follows:

€/000	31/12/2025	31/12/2024
Within 2 years	158,317	200,357
Between 2 and 5 years	182,085	220,284
Beyond 5 years	100,682	105,885
Total	441,084	526,526

The Group has the following unused lines of credit at year-end:

€/000	31/12/2025	31/12/2024
Export advances and Italian portfolio	161,929	165,248
Medium/long-term loans	81,186	-
Medium/long-term bonds	162,349	183,617
Total	405,464	348,865

Further informa�on about liquidity and interest-rate risks is provided in Note 2.9 - Informa�on on risks.

Net indebtedness, including payables and commitments, determined in accordance with ESMA guidance 32-382-1138 and included in Consob no�ce no. 5/21, comprises:

€/000	31/12/2025	31/12/2024	31/12/2023
Cash and cash equivalents	415,704	392,637	334,483
Bank debts (advances and STC amounts)	(33,688)	(33,236)	(52,469)
Interest-bearing financial debts (current portion)	(232,031)	(241,919)	(264,911)
Interest-bearing financial debts (non-current portion)	(441,084)	(526,526)	(503,600)
Net financial position	(291,099)	(409,044)	(486,497)
Commitments for the purchase of equity investments (current portion)	(25,277)	(5,725)	(38,354)
Commitments for the purchase of equity investments (non current portion)	(59,739)	(61,346)	(42,810)
Total net indebtedness	(376,115)	(476,115)	(567,661)

2.6.12 Trade payables and Other current liabili�es

Trade payables total € 233,564 thousand (€ 237,371 thousand in 2024) and principally comprise amounts payable to suppliers for goods and services.

Tax payables are analyzed below:

€/000	31/12/2025	31/12/2024
Current taxes	22,516	15,101
VAT payable	4,731	5,642
Other tax payables	9,200	7,617
Total tax payables	36,447	28,360

Other tax payables principally comprise withholding taxes.

Other current liabili�es are analyzed below:

€/000	31/12/2025	31/12/2024
Payables related to the acquisition of investments	25,277	5,725
Other short-term payables	123,739	132,199
Government grants	-	444
Other	9,262	10,424
Total	158,278	148,792

The increase in payables related to the acquisi�on of investments principally reflects the reclassifica�on to short term, from other non-current liabili�es, of put and call op�ons on the minority interests in subsidiaries (see Note 2.6.15).

Other short-term payables are mainly due to personnel, directors, statutory auditors and social security ins�tu�ons.

2.6.13 Provisions for risks and charges

Changes were as follows:

€/000	Product warranty provision	Directors' termination indemnity provision	Agents' termination indemnity provision	Provision for returns on sales	Provision for risks on equity investments	Other	Total
Balance at 31/12/2024	7,508	8,193	1,360	543	140	4,250	21,994
Exchange difference	(272)	-	-	(6)	-	(144)	(422)
Increase in the year	2,626	-	54	65	-	1,045	4,150
Surplus released to the income statement	(1,681)	(1,050)	(111)	-	-	(212)	(3,054)
Change in consolidation perimeter	-	-	-	-	-	1,736	1,736
Reclassifications	-	-	-	-	(140)	309	169
Utilizations in the year	(1,857)	-	(38)	-	-	(956)	(2,851)
Balance at 31/12/2025	6,324	7,143	1,265	602	-	6,388	21,722

The balance of other provisions at 31 December 2025 refers to various disputes or es�mated liabili�es in group companies. The increase during the year mainly relates to the product warranty provision. The Directors' termina�on indemnity provision was recognized in favor of Fulvio Mon�pò, founder of the Group, by decision of the Board of Directors on 16 March 2020.

The closing balance is classified as follows in the statement of financial posi�on:

€/000	31/12/2025	31/12/2024
Current portion	8,862	8,858
Non-current portion	12,860	13,136
Total	21,722	21,994

The Parent company and some of its subsidiaries are directly involved in lawsuits for limited amounts. The setlement of said lawsuits is not expected to generate any significant liabili�es for the Group that are not covered by the risk provisions already made.

2.6.14 Liabili�es for employee benefits

Liabilities for defined benefit plans

The changes in these liabili�es were as follows:

€/000	2025	2024
Liabilities at 1 January	21,292	21,061
Amount charged to the income statement in the year	1,466	1,722
Reclassifications to other current liabilities	(78)	(75)
Recognition in equity of actuarial results	(900)	(6)
Change in consolidation perimeter	2,341	1,593
Payments	(2,126)	(3,003)
Liabilities at 31 December	21,995	21,292

The following items were recognized in the income statement:

€/000	2025	2024
Current service cost	914	972
Financial expenses (Income)	552	750
Total recognized in the income statement	1,466	1,722

The income statement effects were booked as follows:

€/000	2025	2024
Cost of sales	499	538
Distribution expenses	198	211
General and administrative expenses	217	223
Financial expenses (Income)	552	750
Total	1,466	1,722

Liabili�es for defined benefit plans (termina�on indemnity - TFR) were established using the following actuarial assump�ons:

	Unit of measure	2025	2024
Discount rate	%	3.63	3.24
Expected rate of increase in remuneration*	%	2.50	2.50
Percentage of employees expected to resign (turnover) **	%	5.86	5.84
Annual cost-of-living increase	%	1.90	2.00
Average period of employment	Years	13.41	13.46

* = arithme�c average of the rates of increase in remunera�on by category, used in the actuarial valua�on, weighted by the remunera�on of each category.

** = average annual turnover rate for all causes, in the first ten years following the valua�on.

The following table summarizes the sensi�vity analysis carried out on the discount rate, showing the effects (absolute amount) of reasonable changes in the rate at 31 December 2025.

Sensitivity analysis		TFR €/000
Change in discount rate	+ 0.5%	21,219
Change in discount rate	- 0.5%	22,975

The discount rate on the repor�ng date is calculated as required by IAS 19 with reference to the market yield of high quality corporate bonds. Only the securi�es of corporate issuers with an "AA" ra�ng are considered, on the assump�on that this class iden�fies a high ra�ng level in the context of "Investment Grade" securi�es, with the exclusion, therefore, of higher risk securi�es. Given that IAS 19 does not make explicit reference to a specific business category, the Group has opted for a "Composite" market yield curve that, accordingly, summarizes market condi�ons on the measurement date for the securi�es issued by companies ac�ve in various sectors, including u�li�es, telecommunica�on, finance, banking and industrials.

2.6.15 Other non-current liabili�es

€/000	2025	2024
Payables related to the acquisition of investments	59,739	61,346
Long-term employee benefits	2,448	2,649
Other	15,453	16,033
Total	77,640	80,028

The changes in other non-current liabili�es were as follows:

€/000	2025	2024
Liabilities at 1 January	80,028	60,990
Exchange difference	(631)	(173)
Change in consolidation perimeter	1	502
Amount charged to the income statement in the year	3,313	1,938
Reclassifications to other current liabilities	(19,082)	(2,156)
Change in fair value	3,609	(6,698)
Increase in non-current payables	13,607	29,708
Payments	(3,205)	(4,083)
Liabilities at 31 December	77,640	80,028

The por�on of other non-current liabili�es charged to the income statement mainly relates to the interest expense on put op�ons, while the changes in fair value reflect posi�ve and nega�ve adjustments to the non-current por�on of the es�mated payables for the acquisi�on of equity investments.

2.6.16 Share capital

Share capital comprises 108,879,294 ordinary shares with a unit nominal value of € 0.52 totaling € 56,617,232.88. However, the share capital reported in the financial statements amounts to € 55,320 thousand, since the nominal value of purchased treasury shares, net of those sold, has been deducted from share capital in compliance with the reference accoun�ng standards. At 31 December 2025 Interpump S.p.A. holds 2,494,087 treasury shares in the por�olio, corresponding to 2.291% of share capital, acquired at an average unit cost of € 37.96064.

The changes in treasury shares over the past two years were as follows:

	Number
Balance at 1 January 2024	1,908,863
2024 purchases	250,000
Sale of shares on the exercise of stock options	(20,500)
Balance at 31 December 2024	2,138,363
2025 purchases	500,000
Sale of shares on the exercise of stock options	(144,276)
Balance at 31 December 2025	2,494,087

Taking treasury shares into considera�on, the following changes were recorded in the number of shares in circula�on:

	Number of shares
	2025	2024
Ordinary shares in existence at 1 January	108,879,294	108,879,294
Treasury shares held	(2,138,363)	(1,908,863)
Shares in circulation at 1 January	106,740,931	106,970,431
Treasury shares purchased	(500,000)	(250,000)
Treasury shares sold	144,276	20,500
Total shares in circulation at 31 December	106,385,207	106,740,931

The aims iden�fied by the Group in the management of capital are the crea�on of value for all shareholders and suppor�ng development of the group, both through internal means and by means of targeted acquisi�ons. The Group therefore intends to maintain an adequate level of capitaliza�on, which simultaneously makes it possible to generate a sa�sfactory economic return for shareholders and to guarantee economically effec�ve access to external sources of borrowing. The Group constantly monitors the evolu�on of the debt-to-equity ra�o and the genera�on of cash through its industrial opera�ons. In order to atain the aforemen�oned goals, the Group constantly monitors the cash flows generated by the business sectors in which it operates, both through improvement or maintenance of profitability, and careful management of working capital and of other expenditure.

Capital is construed as both the value contributed by Interpump Group shareholders (share capital and share premium reserve, totaling € 92,993 thousand at 31 December 2025 and € 98,069 thousand at 31 December 2024), and the value generated by Group opera�ons (other reserves and legal reserve, including profit for the year, totaling € 2,051,073 thousand at 31 December 2025 and € 1,878,098 thousand at 31 December 2024, excluding the transla�on reserve and the remeasurement reserve for defined benefit plans).

Treasury shares purchased

The amount of the treasury shares held by Interpump Group S.p.A. is recorded in an equity reserve. Interpump Group purchased 500,000 treasury shares for € 16,594 thousand in 2025 (250,000 treasury shares for € 10,337 thousand in 2024).

Treasury shares sold

In the framework of the exercise of stock op�ons, a total of 144,276 op�ons were exercised, resul�ng in proceeds of € 4,754 thousand (20,500 op�ons were exercised for € 581 thousand in 2024). As in 2024, no treasury shares were divested during 2025 in payment for equity investments.

Stock options

The fair value of the 2022-2024 and 2025-2027 stock op�on plans (the later approved at the Shareholders' Mee�ng held on 29 April 2025) was recorded in the 2025 and 2024 financial statements in compliance with IFRS 2.

Costs of € 6,764 thousand (€ 5,262 thousand in 2024) rela�ng to the stock op�on plans were therefore recognized in the 2025 income statement, with a matching entry to the share premium reserve. Said costs represent the por�on for the year of the value of the op�ons granted to employees and directors, established at the alloca�on date, corresponding to the value of the services rendered by the later in addi�on to normal remunera�on.

The income statement effects were booked as follows:

€/000	2025	2024
Cost of sales	11	-
Distribution expenses	71	56
General and administrative expenses	6,682	5,206
Total	6,764	5,262

Changes in the share premium reserve were as follows:

€/000	2025	2024
Share premium reserve at 1 January	42,564	46,938
Increase in the year due to recognizing in the income statement the fair value of stock options assigned	6,764	5,262
Increases on assignment of treasury shares as payment for subsidiaries acquired	-	-
Increases on assignment of treasury shares following exercise of stock options	4,679	571
Utilization to cover purchase of treasury shares	(16,334)	(10,207)
Share premium reserve at 31 December	37,673	42,564

The Shareholders' Mee�ng held on 30 April 2019 approved a stock op�on plan, known as the "Interpump Incentive Plan 2019-2021", which envisages gran�ng a maximum of 2,500,000 op�ons at an exercise price of Euro 28.4952 each and, for op�ons granted a�er 30 April 2020, at the official price quoted on the Italian Stock Exchange on the day prior to the grant date. The mee�ng of the Board of Directors held on 27 June 2019 decided that 2,500,000 op�ons would be granted, determined the total number of op�ons in each tranche (750,000 for the first tranche, 875,000 for the second tranche and 875,000 for the third tranche) and established condi�ons for exercising the op�ons that are linked to

the achievement of specific financial statement parameters; in addi�on, 1,800,000 op�ons were granted to Fulvio Mon�pò, the Execu�ve Chairman, and 418,500 op�ons were granted to other beneficiaries. A further 20,000 op�ons were granted to other beneficiaries on 3 June 2020. Overall, a total of 2,238,500 op�ons have therefore been granted (of which 144,500 were subsequently canceled). The op�ons can be exercised from 30 June 2022 to 31 December 2025.

On 18 March 2024, the Board of Directors deemed it appropriate to iden�fy the persons in certain key roles within the Group as "Key Management Personnel", recalling that, pursuant to the Consob Regula�on on Related-Party Transac�ons, adopted by Resolu�on no. 17221 dated 12 March 2010, such persons are those who "have the power and responsibility, directly or indirectly, to plan, manage, and control ac�vi�es in the company". The op�ons granted to the execu�ves concerned were ini�ally classified among the "other beneficiaries".

The changes in op�ons in 2025 and 2024 were as follows:

	Number of options
	2025	2024
Options granted at 1 January	80,776	101,276
Options granted in the year	-	-
Options exercised in the year	(80,776)	(20,500)
Options canceled in the year	-	-
Total options granted at 31 December	-	80,776

The fair value of the stock op�ons and the actuarial assump�ons u�lized in the trinomial la�ce model are as follows:

2019-2021 Plan

First grant	Unit of measure
Number of options granted	no.	2,218,500
Grant date		28 June 2019
Exercise price		28.4952
Vesting date		30 June 2022
Fair value per option at the grant date	€	4.562
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	30
Expected average duration of the plan	years	4.76
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Euro swap rates at 28 July 2019)	%	-0.0182

Second grant	Unit of measure
Number of options granted	no.	20,000
Grant date		3 June 2020
Exercise price		27.9868
Vesting date		30 June 2022
Fair value per option at the grant date	€	5.226
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	30
Expected average duration of the plan	years	3.83
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Euro swap rates at 3 July 2020)	%	0.1557

The Shareholders' Mee�ng held on 29 April 2022 approved a new stock op�on plan, the "Interpump Incen�ve Plan 2022/2024", that envisages the grant of up to 2,250,000 op�ons at an exercise price of € 38.6496 and, for op�ons granted a�er 29 April 2023, at the official price determined by Borsa Italiana on the trading day prior to their grant.

At the mee�ng held on 29 April 2022, the Board of Directors granted 1,620,000 op�ons to Execu�ve Chairman Fulvio Mon�pò, while on 23 May 2022, 20 October 2022 and 28 April 2023, respec�vely 288,000 (of which 45,000 to Chief Execu�ve Officer Fabio Marasi), 6,000 and 35,000 (including 15,000 to Chief Execu�ve Officer Fabio Marasi) op�ons were granted to other beneficiaries (including those granted to the Key Management Personnel iden�fied at the Board mee�ng held on 18 March 2024, see above). Overall, a total of 1,949,000 op�ons have therefore been granted. The op�ons can be exercised between 30 June 2025 and 31 December 2028.

A total of 2,000 op�ons were canceled in 2025 (21,200 in 2024 and 2,000 in 2023) and 63,500 op�ons were exercised (none in 2024).

The changes in op�ons in 2025 and 2024 were as follows:

	Number of options
	2025
Options granted at 1 January	1,918,800	1,940,000
Options granted in the year	-	-
Options exercised in the year	(63,500)	-
Options canceled in the year	(2,000)	(21,200)
Total options granted at 31 December	1,853,300	1,918,800

2022-2024 Plan

First grant	Unit of measure
Number of options granted	no.	1,620,000
Grant date		29 April 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.4601
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	31
Expected average duration of the plan	years	4.93
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 29 July 2022)	%	1.5540

Second grant	Unit of measure
Number of options granted	no.	288,000
Grant date		23 May 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.804
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	31
Expected average duration of the plan	years	4.86
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 23 May 2022)	%	1.6911

Third grant	Unit of measure
Number of options granted	no.	6,000
Grant date		20 October 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.7606
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	34
Expected average duration of the plan	years	4.45
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 20 October 2022)	%	3.5668

Fourth grant	Unit of measure
Number of options granted	no.	35,000
Grant date		28 April 2023
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	16.011
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	34
Expected average duration of the plan	years	3.93
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 28 April 2023)	%	3.5748

The Shareholders' Mee�ng held on 29 April 2025 approved a new stock op�on plan, the "Interpump Incen�ve Plan 2025/2027", that envisages the grant of up to 2,450,000 op�ons, at an exercise price of € 30.4397. These may be exercised on one or more occasions between 30 June 2028 and 31 December 2031, for amounts each �me of not less than 0.25% of the op�ons granted to the beneficiary.

On 15 May 2025, the Board of Directors made the first grant of 1,530,000 op�ons, of which 1,140,000 to Execu�ve Chairman Mon�pò, 160,000 to Chief Execu�ve Officer Marasi and 230,000 to the Key Management Personnel.

A further 204,000 op�ons were granted to other beneficiaries on 26 May 2025.

The fair value of the stock op�ons and the actuarial assump�ons u�lized in the trinomial la�ce model are as follows:

2025-2027 Plan

First grant	Unit of measure
Number of options granted	no.	1,530,000
Grant date		15 May 2025
Exercise price		30.4397
Vesting date		30 June 2028
Fair value per option at the grant date	€	12.0381
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	32
Expected average duration of the plan	years	4.88
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 29 July 2022)	%	2.8263

Second grant	Unit of measure
Number of options granted	no.	204,000
Grant date		26 May 2025
Exercise price		30.4397
Vesting date		30 June 2028
Fair value per option at the grant date	€	11.0226
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	32
Expected average duration of the plan	years	4.85
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 29 July 2022)	%	2.7572

The expected vola�lity of the underlying variable (Interpump Group share) is a measure of the prospect of price fluctua�ons in a specific period. The indicator that measures vola�lity in the model u�lized to evaluate the op�ons is the mean square annualized devia�on of compound returns of the Interpump Group share through �me.

2.6.17 Reserves

Translation reserve

This comprises the exchange differences deriving from transla�on of the financial statements of foreign consolidated companies resident outside of the EU area, as well as fluctua�ons in the goodwill atributable to those companies due to exchange-rate fluctua�ons.

Reserve from remeasurement of defined benefit plans

Includes the actuarial component of defined benefit plans (TFR).

Classification of net equity depending on possibility of utilization

€/000	Amount	Possibility of utilization	Tax payable in Available the event of portion distribution		Summary of utilizations over the past 3 years
					to cover losses	for other reasons
Share capital	56,617	B	-	-	-	-
Nominal value of treasury stock in the portfolio	(1,297)
Total share capital	55,320
Capital reserves
From Parent Company's financial statements:
Legal reserve	6,860	B	-	-	-	-
Share premium reserve	44	A, B, C	44	-	-	-
Total from Parent Company's financial statements	6,904		44
Consolidation entries	36
Total from consolidated financial statements	6,940
Profit reserves
From Parent Company's financial statements:
Legal reserve	4,463	B	-	-	-	-
Share premium reserve	37,269	A, B, C	33,081	1,232	-	1,820
Extraordinary reserve	574,841	A, B, C	572,745	7,164	-	101,452
Reserve for share capital reduction	1,297	-	-	-	-	-
First Time Adoption Reserve	(86)		-	-	-	-
Merger surplus	863	A, B, C	698	-	-	-
Remeasurement reserve for defined benefit plans	(2,010)	-	-	-	-	-
Profit for the year	124,714	A, B, C	124,714	-	-	-
Total from Parent Company's financial statements	741,351		731,238
Consolidation entries	1,294,997
Total from consolidated financial statements	2,036,348
Reserve for treasury shares held	94,677	-	-	-	-	26,931
Treasury shares Non-distributable portion*	(94,677)		(3,237)
Remaining distributable portion			728,045
A: for capital increase		B: for coverage of losses		C: for distribu�on to shareholders

*= represents the non-distributable por�on des�ned to cover deferred costs that have not yet been amor�zed.

U�liza�ons principally refer to the payment of dividends, purchases of treasury shares and reduc�ons of reserves for other causes, excluding transfers between reserves. In par�cular, the changes in the past three years reflect the purchases of treasury shares and use of the share premium reserve on the sale of treasury shares for less than their carrying amount, following the exercise of stock op�ons.

On the basis of Italian tax legisla�on the reserves and profits are freely distributable and do not atract tax even in the case of distribu�on, on the condi�on that the reserves and residual profits exceed the nega�ve components of income ascribed exclusively in the tax return; otherwise, distributed reserves and profits would be subject to tax in the measure in which the residual reserves and profits were lower than the nega�ve components of income that have been ascribed exclusively to the tax return. At 31 December 2025, this condi�on has been complied with in full, hence no taxes were payable in the event of distribu�on of the Parent company's en�re profits for the year and the en�rety of available reserves, beyond the taxes already indicated in the prior statement.

Breakdown of components recorded directly in equity

2025				2024
€/000	Pre-tax amount	Taxation	Amount net of taxes	Pre-tax amount	Taxation	Amount net of taxes
Gains (losses) on translating the financial statements of foreign companies	(78,378)	-	(78,378)	26,317	-	26,317
Profits (Losses) of companies measured using the equity method	(141)	-	(141)	(132)	-	(132)
Actuarial Profits (Losses) deriving from the remeasurement of defined benefit plans	900	(216)	684	(1)	-	(1)
Total	(77,619)	(216)	(77,835)	26,184	-	26,184

2.6.18 Non-controlling interests

This is the por�on of consolidated shareholders' equity atributable to the minority shareholders of consolidated subsidiaries. The subsidiaries with minority shareholders are not individually or cumula�vely significant to the Interpump Group.

2.6.19 Information on financial assets and liabilities

Financial assets and liabili�es, broken down by the categories iden�fied by IFRS 7, are summarized in the following table:

Financial assets at 31 December 2025				Financial liabilities at 31 December 2025
€/000		At fair value through profit and loss	Measured at amortized cost	At fair value through other comprehensive income	Measured at amortized cost	Total
	Initially	Subsequently
Trade receivables	-	-	397,253	-	-	397,253
Other current assets	-	-	15,039	-	-	15,039
Other financial assets	5,539	-	-	-	-	5,539
Trade payables	-	-	-	-	(233,564)	(233,564)
Bank debts	-	-	-	-	(33,688)	(33,688)
Current, interest bearing financial debts	-	-	-	-	(232,031)	(232,031)
Other current liabilities	-	-	-	-	(149,016)	(149,016)
Non-current, interest-bearing financial debts	-	-	-	-	(441,084)	(441,084)
Other non current liabilities	-	-	-	-	(77,640)	(77,640)
Total	5,539	-	412,292	-	(1,167,023)	(749,192)

	Financial assets at 31 December 2024				Financial liabilities at 31 December 2024
€/000		At fair value through profit and loss	Measured at amortized cost	At fair value through other comprehensive income	Measured at amortized cost	Total
	Initially	Subsequently
Trade receivables	-	-	385,963	-	-	385,963
Other current assets	-	-	22,946	-	-	22,946
Other financial assets	3,948	-	-	-	-	3,948
Trade payables	-	-	-	-	(237,371)	(237,371)
Bank debts	-	-	-	-	(33,236)	(33,236)
Current, interest bearing financial debts	-	-	-	-	(241,919)	(241,919)
Other current liabilities	-	-	-	-	(138,368)	(138,368)
Non-current, interest-bearing financial debts	-	-	-	-	(526,526)	(526,526)
Other non current liabilities	-	-	-	-	(80,028)	(80,028)
Total	3,948	-	408,909	-	(1,257,448)	(844,591)

The financial assets measured at amor�zed cost generated revenues and costs. Revenues comprise exchange gains of € 6,532 thousand (€ 9,542 thousand in 2024). Costs, on the other hand, comprise losses on receivables of € 2,285 thousand (€ 3,121 thousand in 2024), classified in the income statement as other opera�ng costs, and exchange losses of € 11,423 thousand (€ 7,005 thousand in 2024).

The financial liabili�es measured at amor�zed cost also generated costs and revenues in the income statement. Revenues comprise exchange gains of € 3,431 thousand (€ 4,122 thousand in 2024), while costs refer to exchange losses of € 7,695 thousand (€ 5,896 thousand in 2024) and the por�on of ancillary charges ini�ally incurred to obtain the loans and subsequently expensed over the dura�on of the loan in accordance with the financial method. The amount charged to the 2025 income statement was € 280 thousand (€ 302 thousand in 2024).

Financial assets and liabili�es measured at amor�zed cost generated respec�vely interest income of € 3,052 thousand (€ 7,297 thousand in 2024) and interest expense of € 36,854 thousand (€ 43,724 thousand in 2024); in addi�on, general and administra�ve expenses include commission amounts and bank charges of € 2,456 thousand (€ 2,350 thousand in 2024).

2.7 Notes to the principal income statement cap�ons

2.7.1 Revenues and Other opera�ng income

Revenues amounted to € 2,070.7 million in 2025 (€ 2,078.4 million in 2024). Revenues are analyzed by business sector and geographical area in the Directors' Report on Opera�ons in 2025.

Other opera�ng income is analyzed as follows:

€/000	2025	2024
Reimbursement of expenses	16,225	11,458
Income from the sale of waste and scrap	5,598	5,906
Release of surplus provisions and allocations	4,094	2,330
Capital gains from the sale of property, plant and equipment	963	1,456
Gains on the disposal of intangible fixed assets	-	2
Income from rent/royalties	424	405
Refunds from insurance	186	2,029
Gains from early termination of right-of-use assets	231	83
Other	14,150	13,045
Total	41,871	36,714

The increase in the "Reimbursement of expenses" compared with 2024 was principally due to the recharge of customs du�es to customers by a number of Group companies in the United States.

Other opera�ng income also includes reimbursements linked to the purchase of investments, as envisaged in the related contracts.

Addi�onally, this cap�on includes the opera�ng grants received by the Group.

The grants, subsidies, contribu�ons and aid (in cash and/or in kind), not of a general nature and not represen�ng considera�on, remunera�on or compensa�on for losses, received by the Group from Public Administra�ons during 2025, pursuant to subsec�on 125-(2) of art. 1 of Law 124/2017, were not significant.

See the Na�onal Register of State Aid, kept pursuant to art. 52 of Law 234 dated 24 December 2012, for informa�on about any State aid not men�oned in this disclosure (www.rna.gov.it).

2.7.2 Costs by nature

€/000	2025	2024
Consumption of raw materials and components	770,961	808,304
Personnel and temporary staff	514,626	498,498
Services	236,741	224,739
Depreciation and amortization of tangible and intangible fixed assets (Notes 2.7.1 and 2.6.7)	119,237	113,610
Directors' and statutory auditors' remuneration	13,201	11,035
Hire purchase and leasing charges	6,463	6,101
Provisions and impairment of tangible and intangible fixed assets (Notes 2.7.1, 2.6.7 and 2.6.13)	6,163	5,198
Other operating costs	108,599	109,814
Total cost of sales, distribution costs, general and administrative expenses, other operating costs and impairment losses on tangible and intangible fixed assets	1,775,991	1,777,299

In accordance with the requirements of ar�cle 149-(12) of the Issuers' Regula�on as amended by Consob Resolu�on no. 15915 of 3 May 2007 published in the Official Journal of the Italian Republic no. 111 of 15 May 2007 (S.O. no. 115), the remunera�on amounts for 2025 are listed below for services rendered to the Group by the independent auditors and the en��es belonging to the network of the independent auditors:

• audit engagements Parent Company, € 98 thousand;
• audit engagements subsidiaries, € 711 thousand;
• limited assurance of the Parent Company's Non-Financial Statements, € 80 thousand;
• atesta�on services Parent Company and subsidiaries, € 15 thousand.

The above amounts are included under Other costs within general and administra�ve expenses.

2.7.3 Directors' and statutory auditors' remunera�on

The emoluments of the Directors and Statutory Auditors of Interpump Group S.p.A., for their func�ons performed at the Parent Company and at other consolidated companies, are summarized below:

€/000	2025	2024
Parent Company	9,297	7,446
Statutory auditors	156	121
Total remuneration	9,453	7,567

The amounts include the emoluments authorized at the Shareholders' Mee�ng and those established by the Board of Directors for directors with special du�es, including bonuses, fringe benefits, payments to cover the cost of personal security, adjustment of the termina�on indemni�es of the Execu�ve Chairman, and the components of remunera�on deriving from salaries and stock op�on plans. The last men�oned are represented by the period por�on of the fair value of the op�ons calculated at the grant date. Further details about the compensa�on due to persons with power and strategic responsibili�es at Interpump Group S.p.A. are provided in the Report on Remunera�on Policy and Compensa�on Paid.

2.7.4 Financial income and expenses

€/000	2025	2024
Financial income
Interest income from liquid funds	6,947	7,440
Interest income from other assets	151	179
Exchange gains	16,731	20,302
Financial income to adjust estimated debt for commitment to purchase residual interests in subsidiaries	2,901	7,118
Other financial income	541	257
Total financial income	27,271	35,296
Financial expenses
Interest expense on bank debt	20,050	31,710
Interest expense on bond	4,263	3,912
Lease interest expense	4,591	4,873
Interest expense on put options	4,321	2,587
Financial expenses for adjustment of estimated debt for commitment to purchase residual interests in subsidiaries	4,712	594
TFR financial expenses	552	752
Foreign exchange losses	26,474	17,642
Other financial expenses	363	310
Total financial expenses	65,326	62,380
Total financial expenses (income), net	38,055	27,084

The interest expense on put op�ons relates to the release of the discoun�ng effect on payables for the purchase of equity investments. Adjustments of the es�mated liability for the purchase of residual interests in subsidiaries may result in financial expenses due to an increase in the liability, if the actual performance of the companies concerned is beter than ini�ally expected, or if the related put op�ons are exercised later than ini�ally expected. Conversely, financial income is recognized if actual performance is worse than ini�ally expected, or if the put op�ons are exercised earlier than ini�ally expected.

The decrease in interest expense on bank debt during 2025 was due to the steady decline in interest rates from the high levels experienced in 2024.

2.7.5 Income taxes

The tax rate for the year was 29.8% (26.5% in 2024); notably in this regard, certain subsidiaries enjoyed non-repeatable tax benefits in the prior year.

Taxes recognized in the income statement can be broken down as follows:

€/000	2025	2024
Current taxes	(88,417)	(75,193)
Current taxes for prior financial years	144	(3,247)
Deferred taxes	(866)	(4,122)
Total taxes	(89,139)	(82,562)

The deferred taxes recognized in the income statement are analyzed as follows:

€/000	2025	2024
Deferred tax assets generated in the year	8,062	7,001
Deferred tax liabilities generated in the year	(4,398)	(3,654)
Deferred tax assets reversed to the income statement	(9,175)	(13,365)
Deferred tax liabilities reversed to the income statement	4,643	5,902
Deferred taxes not calculated in previous years	2	(6)
Total deferred taxes	(866)	(4,122)

The reconcilia�on of taxes calculated on the basis of the nominal rates in force in the different countries and the effec�ve tax burden is as follows:

€/000	2025	2024
IRES/National tax
Profit before taxes from the income statement	298,848	311,033
Theoretical taxes at the Italian rate (24.0%)	71,724	74,648
Effect of different rates applicable to foreign subsidiaries	(4,002)	(3,547)
Tax on dividends from consolidated companies	6,720	4,210
Higher (Lower) taxes resulting from the measurement of investments at equity	(81)	(72)
Higher tax for non-deductible stock option costs	126	70
Lower taxes due to IRAP deduction relating to expenses for employees and similar in the year	(249)	(137)
Lower taxes due to IRAP deduction on interest expenses in the year	(24)	(82)
Lower taxes due to super- and hyper-depreciation	(3,065)	(2,668)
Lower taxes due to non-taxability of income deriving from badwill	(96)	-
Higher taxes due to not recognizing deferred tax assets on tax losses	-	14
Lower taxes due to not recognizing deferred tax assets on prior year tax losses	-	(504)
Taxes relating to previous years (current plus deferred)	1282	(2,500)
Higher (Lower) taxes on financial expenses related to discounting of debts for the acquisition of equity investments and related adjustments	1,061	(990)
Higher (Lower) taxes for non-taxable revenues and non-deductible costs	937	(1,504)
Total IRES / National tax	74,333	66,938

emarket sdir storage
CERTIFIED

€/000	2025	2024
IRAP / Local income taxes
Profit before taxes from the income statement	298,848	311,033
Theoretical taxes at the Italian rate (3.9%)	11,655	12,130
Effect of different rates applicable to foreign subsidiaries and for holding companies	3,014	3,715
Higher taxes for non-deductible payroll costs	193	160
Higher taxes for non-deductible directors' emoluments	424	386
Higher (Lower) taxes due to non-deductible financial expense and non-taxable financial income	499	143
Higher taxes due to measuring investments at equity	(13)	(14)
Lower taxes due to non-taxability of income deriving from badwill	(16)	-
Taxes relating to previous years (current plus deferred)	(1,138)	(727)
Tax effect of not recognizing deferred tax assets on tax losses	-	2
Higher (Lower) taxes for non-taxable revenues and non-deductible costs	188	(171)
Total IRAP / Local income taxes	14,806	15,624
Total income taxes recognized in the income statement	89,139	82,562

During 2025, Interpump Group S.p.A. confirmed once again the domes�c tax group established together with Interpump Piping GS S.r.l. and Walvoil S.p.A.

Pillar Two - Global minimum tax

On 8 October 2021 over 135 member countries of the Inclusive Framework agreed to a two-Pillar solu�on intended to reform the interna�onal tax system, ensuring that mul�na�onal companies pay a reasonable rate of tax wherever they operate and generate profits.

On 15 December 2022, the Council of the European Union formally approved Direc�ve (EU) 2022/2523 on ensuring a global minimum level of taxa�on for mul�na�onal enterprise groups and large-scale domes�c groups in the Union, with a view to guaranteeing a minimum level of taxa�on (effec�ve tax rate) in each jurisdic�on of 15%, consistent with the rules defined by the Organisa�on for Economic Coopera�on and Development (OECD), the so-called "GloBE Rules".

Commission Regula�on (EU) 2023/2468 was issued on 8 November 2023, amending Regula�on (EU) 2023/1803 as regards IAS 12 - Income taxes.

On 28 December 2023, Italy transposed Direc�ve (EU) 2022/2523 on ensuring a global minimum level of taxa�on by publishing Decree 209/2023 in the Italian Official Gazete, effec�ve for repor�ng periods beginning a�er 31 December 2023.

In this regard, the OECD has published technical guidance and an overview of the poten�al impacts of applying the "Pillar Two" regula�on in accordance with IAS 12 - Income taxes.

Furthermore, on 20 May 2024, the Decree of the Deputy Minister for the economy and finance was published with regard to the regula�on of transi�onal safe harbors (the "TSH" regula�on), based on which - for the three-year period 2024/2026 - the addi�onal taxa�on due in a given jurisdic�on is deemed to be zero if the companies resident there pass at least one of the three tests specified in the regula�on.

At 31 December 2023, the Interpump Group had already applied the exemp�on concerning the iden�fica�on and disclosure of deferred tax assets and liabili�es arising in rela�on to income taxes, as envisaged in the amendment to IAS 12 published in April 2023. As stated in the Annual Financial Report at 31 December 2023, to which reference is made for addi�onal informa�on, the Interpump Group had already made a preliminary assessment of the data rela�ng to the 2022 tax year, which was used by the Ul�mate Parent En�ty to prepare the Country-by-Country Report (CbCR), in order to check the applicability of the Transi�onal CbCR Safe Harbor. The same assessment was also made with reference to the data for the 2023 tax year. These analyses did not iden�fy any material impacts for the Interpump Group, had the regula�on concerned already been applicable from 2023.

As stated in the Annual Financial Report at 31 December 2024, the Group has analyzed the applicability of the so-called "Transi�onal CbCR Safe Harbors" (TSH). This work iden�fied that at least one of the three Transi�onal CbCR Safe Harbor tests was passed for each jurisdic�on in which the Group operates. Accordingly, there was no exposure to addi�onal taxa�on deriving from the Pillar Two regula�on.

The above analyses have been updated and, in par�cular, the TSH regula�on was applied using the informa�on available at 31 December 2025, considering the "aggregated data" of the Interpump Group en��es in each jurisdic�on where the Group operates (jurisdic�onal approach).

This work iden�fied that at least one of the Transi�onal CbCR Safe Harbor tests was passed for each jurisdic�on in which the Group operates. Accordingly, once again, there is no current-year exposure to addi�onal taxa�on deriving from the Pillar Two regula�on.

In future, the Group will con�nue to monitor and assess any impacts of this regula�on with reference to the latest data, considering the increase in the reference ETR (effec�ve tax rate) to 17% in 2026, from 16% in 2025.

Lastly, it is confirmed - as required by the amendment to IAS 12 published in April 2023 - that the entry into force of the Pillar Two rules from 1 January 2024 has not had any effect on the deferred taxa�on recognized by the Group.

2.8 Earnings per share

Basic earnings per share

Basic earnings per share are calculated as the consolidated net profit atributable to the owners of the Parent Company divided by the weighted average number of ordinary shares, as follows:

	2025	2024
Consolidated profit for the year attributable to parent company shareholders (€/000)	208,122	227,051
Average number of shares in circulation	106,445,453	106,916,468
Basic earnings per share (€)	1.955	2.124

Diluted earnings per share

Diluted earnings per share are calculated on the basis of diluted consolidated profit for the period atributable to the Parent company's shareholders, divided by the weighted average number of ordinary shares in circula�on adjusted by the number of poten�ally dilu�ve ordinary shares. The calcula�on is as follows:

	2025	2024
Consolidated profit for the year attributable to parent company shareholders (€/000)	208,122	227,051
Average number of shares in circulation	106,445,453	106,916,468
Number of potential shares for stock option plans (*)	262,675	192,369
Average number of shares (diluted)	106,708,128	107,108,837
Diluted earnings per share (€)	1.950	2.120

(*) calculated as the number of shares granted for in-the-money stock option plans multiplied by the ratio between the difference of the average value of the share in the year and the exercise price at the numerator, and the average value of the share in the year at the denominator.

A dividend for 2025 of € 0.35 (€ 0.33 in 2024) was allocated to each outstanding share.

2.9 Informa�on on risks

The Group is exposed to financial risks associated with its ac�vi�es:

• market risk (mainly related to currency exchange rates and interest rates) since the Group does business interna�onally and is exposed to the exchange risk;
• credit risk connected with business rela�ons with customers;
• liquidity risk, with special reference to the availability of financial resources and access to the lending market and financial instruments in general;
• price risk in rela�on to metal price fluctua�ons that cons�tute a significant por�on of the raw materials purchase price.

The Group is not exposed to significant risk concentra�ons.

As described in the Board of Directors' Report, the Interpump Group constantly monitors the financial risks to which it is exposed so that the poten�al nega�ve effects can be evaluated in advance and appropriate ac�ons can be taken to mi�gate them.

With specific reference to the direct and indirect risks deriving from the macroeconomic environment and the Russia-Ukraine conflict, the exposure of the Group remains limited - as already stated in the Board of Directors' Report and confirmed by the economic results achieved in recent years.

The following sec�on provides reference qualita�ve and quan�ta�ve indica�ons concerning the uncertainty of such risks for the Interpump Group.

The quan�ta�ve data given below are not to be construed as forecasts; specifically, the sensi�vity analyses concerning market risks are unable to reflect the complexity and correlated rela�ons of markets that may derive from each prospected change.

2.9.1 Exchange-rate risk

The Group is exposed to risks deriving from fluctua�ons in currency exchange rates that can impact on the economic result and shareholders' equity value. Specifically, it clarifies that:

• Some of the Group's subsidiaries are located in countries outside the Eurozone, notably in the USA, Mexico, Canada, Brazil, Chile, Peru, Australia, New Zealand, China, Hong Kong, Singapore, India, South Korea, Denmark, Sweden, Poland, Romania, Moldova, Bulgaria, Ukraine, UK, UAE, Russia, Colombia, Türkiye and South Africa. Since the Group's func�onal currency is the euro, the income statements of these companies are translated into euro at the average exchange rate of the year. Changes in exchange rates can impact on the corresponding value of revenues, costs and economic result in euro.
• The assets and liabili�es of consolidated companies whose account currency is different from the euro can assume different equivalent euro values depending on the rates of exchange. As provided for by the reference accoun�ng standards, the effects of changes in the exchange rate are recognized directly in equity in the Transla�on reserve. The Group monitors the main exposures to transla�on risk; at the date of the financial statements no hedges have been arranged in rela�on to these exposures.
• Wherever Group companies generate revenues in currencies other than the currencies in which the respec�ve costs are denominated, exchange rate fluctua�ons can impact on the rela�ve companies' opera�ng profit.

In 2025 the total amount of cash flows directly exposed to exchange risks corresponded to approximately 16% of Group revenues (approximately 15% in 2024). The main exchange rates to which the Group is exposed are:

• Euro/USD in rela�on to dollar sales of high pressure pumps, very high pressure systems, direc�onal controls, gears and valves in North America and Mexico through the Group's distribu�on companies and, to a lesser degree, to customers external to the Group;
• Euro/CAD in rela�on to sales in Canadian dollars of valves and direc�onal controls on the Canadian market to customers external to the Group;
• Euro/AUD in rela�on to sales in Australian dollars of very high pressure systems in Australia through one of the Group's distribu�on companies;
• USD/Euro in rela�on to euro sales of high pressure pumps, direc�onal controls and valves in North America by the Group's distribu�on companies;
• RON/Euro in rela�on to euro sales of hoses and fi�ngs made in Romania for the Italian market;
• Indian rupee/USD, Renminbi/Euro, Indian rupee/Euro, in rela�on to dollar and euro sales of components for food processing machines, hydraulic components, direc�onal controls, gears and valves in North America, Korea and Italy;
• Mexican Peso/USD in rela�on to sales in US dollars of gears in North America through the Group's distribu�on companies;
• Polish Zloty/Euro in rela�on to euro sales of hydroguides and orbital motors in the European market to customers external to the Group;
• Polish Zloty/USD in rela�on to sales in US dollars of hydroguides and orbital motors in North America through the Group's distribu�on companies;
• CAD/USD in rela�on to sales in US dollars of cylinders and hydraulic fi�ngs in North America;
• CAD/Euro in rela�on to euro sales of cylinders and hydraulic fi�ngs in the Canadian market.

When it is not possible to establish macro hedges between revenues and costs in foreign currency, current Group policy is to hedge exchange risks solely for commercial transac�ons that are unusual, either in terms of their amount or the frequency with which they occur. To proceed in this manner, the Interpump Group has set up a hedging procedure for commercial transac�ons in foreign currency, in the framework of which the most effec�ve deriva�ve instruments for the achievement of the preset goals have been iden�fied and the associated responsibili�es, du�es and system of delega�ons have been atributed.

Whenever Group companies sustain costs denominated in foreign currencies other than the currencies of denomina�on of the rela�ve revenues, fluctua�ons in the exchange rates can affect the opera�ng profit of the companies concerned.

In 2025 the commercial cash flows directly exposed to exchange risks were equivalent to approximately 31% of Group purchases (30% in 2024) and mainly related to intercompany transac�ons and the USD/Euro, Renminbi/Euro, Zloty/USD, Indian Rupee/Euro, AUD/Euro, Euro/USD, Brazilian Real/Euro, GBP/Euro and Zloty/Euro exchange rates and, to a lesser extent, the Romanian Leu/Euro, CAD/Euro, Korean Won/Euro, USD/Renminbi, Russian Ruble/Renminbi and CAD/USD exchange rates. Current Group policy regarding purchases in currencies other than those used locally does not envisage systema�c hedges. The decision to refrain from systema�c hedging is due to the large number of transac�ons, usually between Group companies, that occur constantly throughout the year and that can therefore be considered to be recurrent in terms of amount and also of the frequency with which they take place. However, the Group monitors this phenomenon constantly both in rela�on to exchange rate trends and also the evolu�on of business.

Again, in rela�on to commercial ac�vi�es, Group companies may be obliged to hold trade receivables or payables denominated in currencies other than the account currency of the holding en�ty. Fluctua�ons in exchange rates can therefore result in the realiza�on or assessment of posi�ve or nega�ve exchange differences.

In rela�on to financial exposure, wherever the monetary ou�lows/inflows are denominated in a currency other than the account currency u�lized by the creditor/debtor company, fluctua�on of the exchange rates can impact nega�vely on the net profits of said companies. During 2025, € 11.8 million of intercompany loans were disbursed and € 6.3 million were collected in currencies other than those u�lized by the debtor or creditor companies. From a financial standpoint, these exposures are eliminated on consolida�on of the financial statements, since they derive from rela�ons with subsidiaries. At 31 December 2025 loans granted in currencies other than those used by the debtor or creditor companies totaled € 61.0 million, down by € 3.0 million since 31 December 2024. Once again in 2025, the Group made the strategic decision not to hedge these exposures. The nature and structure of the exposure to exchange risk and the related hedging policies adopted by the Group were substan�ally unchanged in 2025 and 2024.

2.9.2 Exchange risk sensi�vity analysis

The poten�al loss deriving from the change in the fair value of financial assets and liabili�es caused by a hypothe�cal and sudden increase in the value of the euro of 10% with respect to the main foreign currencies would be approximately € 6,003 thousand at 31 December 2025 (€ 7,081 thousand at 31 December 2024).

The sensi�vity analysis does not take account of any changes in hedged receivables and payables. It is reasonable, in fact, to assume that the fluctua�on in exchange rates could produce an opposite economic effect on the deriva�ve financial instruments of an amount that is iden�cal to the change in the underlying hedged transac�ons, thereby effec�vely offse�ng the fluctua�on.

2.9.3 Interest-rate risk

Group companies use external financial resources in the form of debt and employ cash on hand available in bank deposits. Changes in the market interest rate influence the cost and return of various forms of financing and investment, thus impac�ng on the Group's level of financial expenses.

It is Group policy not to arrange hedges, in view of the short average dura�on of the exis�ng bank loans (around 3.5 years). As more fully described in Note 2.6.11, loans bearing interest at fixed rates total € 104,200 thousand at 31 December 2025.

At 31 December 2025, liquidity of € 33.0 million is held in the form of unrestricted deposits at fixed interest rates, while the remainder is held at floa�ng rates consistent with the Group's financial and bank debt.

2.9.4 Sensi�vity analysis related to interest-rate risk

The effects on the Group of a hypothe�cal and immediate upward varia�on in interest rates of 50 basis points would be higher financial expenses of € 794 thousand (€ 1,694 thousand in 2024). It is reasonable to assume that a 50 basis points decrease in interest rates would produce an equivalent effect, although this �me in terms of lower financial expenses. The sensi�vity analysis does not take account of fixed-rate loans or liquidity invested at fixed rates; addi�onally, hedged loans are also excluded from the analysis. It is reasonable, in fact, to assume that the fluctua�on in interest rates could produce an opposite economic effect on the deriva�ve financial instruments of an amount that is iden�cal to the change in the underlying hedged transac�ons, thereby effec�vely offse�ng the fluctua�on.

2.9.5 Credit risk

The maximum theore�cal credit risk exposure of the Group at 31 December 2025 and 2024 is represented by the carrying value of the financial assets recorded in the financial statements.

Historically, the Group has not suffered significant bad debts (incidence of direct losses charged to the income statement and bad debt provisions of 0.1% of revenues in both 2025 and 2024). This is because Group companies generally grant extended payment terms only to their long-term customers of known solvency and reliability. In contrast, a�er having passed an ini�al credit ra�ng analysis, new customers are required to make payments in advance or to open a leter of credit for amounts due.

Individual write-downs are applied in rela�on to posi�ons, if of significant magnitude, in rela�on to which an objec�ve condi�on of uncollectability is present for all or part of the outstanding amount. The amount of the write-down takes account of an es�mate of the recoverable flows and the associated collec�on date, and the expenses and costs for future debt recovery. Collec�ve provisions are allocated in rela�on to receivables that are not subject to individual write-downs, taking account of the historic exposure and sta�s�cal data.

At 31 December 2025 the Loans and Receivables booked under financial assets for the purposes of IFRS 7 total € 412,291 thousand (€ 408,909 thousand at 31 December 2024), and include € 13,564 thousand related to writen down receivables (€ 15,031 thousand at 31 December 2024); on the residual amount, payments overdue by less than three months total € 63,191 thousand (€ 68,168 thousand at 31 December 2024), while those overdue beyond three months total € 20,721 thousand (€ 25,387 thousand at 31 December 2024).

The Group is not exposed to any significant concentra�ons of revenues. In fact, in 2025 the top customer in terms of revenues accounted for about 1% of revenues (2% in 2024), while the top 15 customers accounted for about 13% of revenues (about 12% in 2024). At sector level, the top customer accounted for around 3% of revenues in the Water-Je�ng Sector and around 2% in the Hydraulic Sector, while the top 15 customers accounted for around 15% of revenues in the Water-Je�ng sector and 18% in the Hydraulic sector.

2.9.6 Liquidity risk

The liquidity risk can arise if it becomes impossible to obtain, on acceptable economic condi�ons, the financial resources needed for the Group's business opera�ons.

The two main factors that define the Group's liquidity situa�on are the resources generated by or used in opera�ng and spending ac�vi�es, and the characteris�cs of expiry and renewal of debt or liquidity of financial investments and the rela�ve market condi�ons.

The Group has adopted a series of policies and processes aimed at op�mizing the management of resources in order to reduce the liquidity risk:

• reten�on of an appropriate level of cash on hand;
• diversifica�on of the banks with which the Group operates;
• access to adequate lines of credit;
• nego�a�on of covenants at a consolidated level;
• monitoring of the prospec�ve condi�ons of liquidity in rela�on to the corporate process.

The maturity characteris�cs of interest bearing financial debts and bank debts are described in Note 2.6.11.

Together with the resources generated by opera�ng and financing ac�vi�es, management considers that the funds and lines of credit currently available will enable the Group to meet the requirements deriving from inves�ng ac�vi�es, the management of working capital and the setlement of payables as they fall due, while also suppor�ng the pursuit of a growth strategy that includes targeted acquisi�ons capable of crea�ng value for the shareholders. Liquid funds at 31 December 2025 total € 415.7 million. These funds, combined with the significant cash genera�on from opera�ons that the Group has proved able to achieve in 2025 and in prior years, are definitely factors that make it possible to reduce the Group's exposure to liquidity risk. The decision to maintain a high level of liquidity was taken in order to pick up on any acquisi�on opportuni�es that may arise and to minimize the liquidity risk due to possible periods of uncertainty of the macroeconomic context that may emerge in the future.

2.9.7 Price risk

The Group is exposed to risks deriving from fluctua�ons in the prices of metals that can impact on economic results and profit margins. Specifically, the incidence of costs for the purchase of metals was 32% of total Group purchase costs of raw materials, semi-finished products and finished products in 2025 (29% in 2024). The main metals u�lized by the Group include steel, cast iron, stainless steel, mild steel, aluminum, brass, bronze and, to a lesser extent, non-ferrous metals, sheet metal and copper.

The vola�lity of raw material prices during 2025 differed depending on the sector. The prices charged for steel (both stainless and for reinforcement and restora�on purposes) and cast iron remained stable overall. Aluminum prices followed an irregular patern, with a fall in the summer months that was followed by marked recovery at year end. The situa�on regarding copper, brass and cobalt was more cri�cal, with marked rises during the final quarter given the tensions affec�ng global demand and supply chains. During the year, the Group some�mes decided to purchase larger quan��es in order to guarantee the availability of the materials needed for produc�on purposes.

Considerable uncertainty is expected in 2026, principally due to the recent tariffs and entry in force of the Carbon Border Adjustment Mechanism (CBAM), which will impact the cost of non-EU imports and make it harder to define stable pricing policies.

Further, the Group constantly monitors the price trend of these raw materials, seeking to adopt the most effec�ve policies that minimize the exposure to this risk. The Group sectors feature differing levels of propensity towards the risk of fluctua�ons in the prices of metals, notably:

• in the Water-Je�ng sector the cost of metals cons�tuted approximately 24% of costs for the purchase of raw materials, semi-finished products and finished products in 2025 (19% in 2024). The metals u�lized are primarily stainless steel, brass, aluminum, steel and cast iron. Agreements in place at 31 December 2025 covered about 29% of projected brass consump�on and about 32% of projected aluminum consump�on in 2026 (at 31 December 2024: about 76% of projected

brass consump�on and about 47% of projected aluminum consump�on in 2025). Projected brass and aluminum consump�on in 2026 is further covered if, in addi�on to the agreements signed, the inventories held at 31 December 2025 are considered (about 69% of projected brass consump�on and about 48% of projected aluminum consump�on);

• the cost of metals in the Hydraulic sector represented about 36% of purchase costs for raw materials, semi-finished products and finished products in 2025 (34% in 2024). The metals u�lized are primarily steel, cast iron, mild steel and aluminum. The prices of these commodi�es, with the excep�on of aluminum, are not historically subject to significant fluctua�ons; accordingly, the Group has always considered the careful analysis of price trends to be sufficient to mi�gate price risk. Agreements in place at 31 December 2025 covered about 21% of projected aluminum consump�on in 2026; this consump�on is further covered if, in addi�on to these signed agreements, the stocks on hand at 31 December 2025 are also considered (coverage of about 48%).

The various Group companies usually revise their selling prices every year, in the absence of excep�onal dynamics that require ac�on to be taken during the year as well.

The Group is also monitoring developments carefully with regard to the import tariffs imposed on countries by the United States, and the counter-measures taken by them, analyzing the poten�al impacts on the business and studying the ac�ons to be taken to mi�gate their poten�al adverse effects.

2.9.8 Climate change risk

With regard to climate change, the Interpump Group does not fall with the scope of Direc�ve 2003/87/EC (as amended most recently by Direc�ve (EU) 2018/410), which introduced and governs the European Union Emissions Trading System (EU ETS). The ETS is the principal tool adopted by the European Union to reach the CO² reduc�on targets established for the principal industrial sectors and avia�on. Although the Interpump Group is not included in the industrial sectors covered by the ETS, the Group is nevertheless commited to combat climate change. The 2023-2025 ESG Plan, approved by the Board of Directors on 5 October 2022, includes ac�ons in support of the ESG strategy that are intended to have a significant, concrete impact on the development of the business. In par�cular, the Plan not only adopts environmental protec�on and social inclusion objec�ves, but also strengthens the correla�on between achievement of the ESG Plan objec�ves and the remunera�on of top management.

In par�cular, the ac�ons completed in 2025 were designed to help the Group reach its decarboniza�on targets for 2030 and 2050. Group strategy envisages the reduc�on of emissions via increased recourse to cer�fied green electricity, the installa�on of new renewable energy plants and the op�miza�on of energy consump�on within the organiza�on.

The path of sustainable growth and environmental protec�on taken by the Interpump Group also means devising processes that support the circular economy of products, the more efficient management of water resources and the development of technical solu�ons for the eco-design of products. The en�re process will be achieved inter alia by leveraging throughout the organiza�on the best prac�ces developed in specific areas by each component part of the Group.

Given the above analyses and, in par�cular, the assessments made of the physical risks (acute and chronic) at Group loca�ons, the resul�ng poten�al impacts on assets and revenues were not considered significant and, accordingly, no specific provisions or asset writedowns were recorded at 31 December 2025.

Again in view of the above, the forecasts reflected in the 2026-2030 business plans used for the impairment tests were not significantly affected by the above physical, climate-related risks but, nevertheless, were prepared in a prudent manner that contains the expected level of future cash flows.

The Group is also poten�ally exposed to risks deriving from the impacts of future, more restric�ve laws and regula�ons governing energy efficiency and climate change, that might result in increased opera�ng costs.

2.9.9 Geo-poli�cal risk

The interna�onal macroeconomic environment con�nues to reflect a high level of uncertainty, caused by the geo-poli�cal tensions and conflicts in various areas of the world, not least the Middle East.

These tensions intensified during 2025 following episodes of instability in the Gulf area and growing fric�on between Iran, the USA, Israel and other interna�onal players. As a consequence, the energy markets became more vola�le and fears for global infla�on increased. The geo-poli�cal situa�on has escalated further in early 2026, with the outbreak of conflict involving Iran and other regional and interna�onal powers. These dynamics could indirectly impact global market trends and the industrial sectors in which the Group operates, with possible adverse effects on the availability and cost of raw materials, supply chain efficiencies, interna�onal logis�cs and, not least, energy prices and exchange rates.

The Group con�nues to monitor geo-poli�cal and macroeconomic developments with care, assessing the poten�al direct and indirect effects should current conflicts escalate further, even though these are difficult to quan�fy at present. Where appropriate, the Group takes steps to mi�gate the poten�al adverse impacts, including via geographical diversifica�on of the sources of supply, stronger rela�ons with alternate suppliers and careful management of opera�ng and financial risks.

2.10 Notes to the cash flow statement

2.10.1 Property, plant and equipment

In 2025, the Group purchased property, plant and machinery totaling € 104,395 thousand (€ 139,077 thousand in 2024). This investment involved payments of € 105,337 thousand, including the purchase of assets for subsequent rental and considering the dynamics of the payables incurred for this reason (€ 140,436 thousand in 2024).

2.10.2 Cash and cash equivalents

This item can be broken down as follows:

€/000	31/12/2025	31/12/2024
Cash and cash equivalents as per the consolidated statement of financial position	415,704	392,637
Bank debts (overdrafts and subject-to-collection advances)	(33,688)	(33,236)
Cash and cash equivalents as per the consolidated cash flow statement	382,016	359,401

2.10.3 Net financial posi�on and cash flow statement

See the "Cash Flow" chapter in the Report on opera�ons more informa�on about the main components of the net financial posi�on and the changes that occurred in 2025 and 2024.

2.11 Commitments

At 31 December 2025 the Group has commitments to purchase raw materials totaling € 26 thousand (€ 90 thousand at 31 December 2024).

Furthermore, the Group has commitments to purchase property, plant and equipment totaling € 5,934 thousand (€ 10,208 thousand at 31 December 2024), and intangible fixed assets totaling € 1,436 thousand (€ 148 thousand at 31 December 2024).

The Group has also received guarantees for the purchase of equity investments totaling € 1,808 thousand (€ 4,538 thousand at 31 December 2024) and has given secured guarantees to third par�es totaling € 4,916 thousand (€ 1,768 thousand at 31 December 2024).

2.12 Transac�ons with related par�es

The Group has non-significant business rela�ons with unconsolidated subsidiaries, associates and other related par�es at arm's length condi�ons considered to be normal in the relevant reference markets, taking account of the characteris�cs of the goods and services rendered. The transac�ons between Interpump Group S.p.A. and its consolidated subsidiaries, which are related par�es of the company, have been eliminated from the consolidated financial statements and are not detailed in these notes.

The effects on the Group's consolidated income statements for 2025 and 2024 are shown below:

	2025
€/000	Consolidated total	Non consolidated subsidiaries	Associates	Other related parties	Total related parties	% incidence on F.S. caption
Revenues	2,070,684	735	-	976	1,711	0.1%
Cost of sales	1,339,909	648	-	5,086	5,734	0.4%
Other operating income	41,871	45	-	6	51	0.1%
Distribution expenses	185,174	442	-	329	771	0.4%
General and administrative expenses	241,005	-	-	970	970	0.4%
Financial expenses	65,326	-	-	513	513	0.8%

	2024
€/000	Consolidated total	Non consolidated subsidiaries	Associates	Other related parties	Total related parties	% incidence on F.S. caption
Revenues	2,078,399	927	-	2,075	3,002	0.1%
Cost of sales	1,364,753	572	-	4,865	5,437	0.4%
Other operating income	36,714	23	-	-	23	0.1%
Distribution expenses	173,890	374	-	588	962	0.6%
General and administrative expenses	227,118	-	-	653	653	0.3%
Financial expenses	62,380	-	-	691	691	1.1%

The effects on the consolidated statement of financial posi�on at 31 December 2025 and 2024 are described below:

	31 December 2025
€/000	Consolidated total	Non consolidated subsidiaries	Associates	Other related parties	Total related parties	% incidence on F.S. caption
Trade receivables	397,253	1,207	-	232	1,439	0.4%
Trade payables	233,564	251	-	1,399	1,650	0.7%
Interest-bearing financial debts (current and non-current portion)	673,115	-	-	9,873	9,873	1.5%

	31 December 2024
€/000	Consolidated total	Non consolidated subsidiaries	Associates	Other related parties	Total related parties	% incidence on F.S. caption
Trade receivables	385,963	1,568	-	505	2,073	0.5%
Trade payables	237,371	120	-	650	770	0.3%
Interest-bearing financial debts (current and non-current portion)	768,445	-	-	12,914	12,914	1.7%

2.12.1 Rela�ons with non-consolidated subsidiaries

Rela�ons with non-consolidated subsidiaries are as follows:

	Receivables		Revenues
€/000	2025	2024	2025	2024
General Pump China Inc.	133	41	292	274
Interpump Hydraulics Perù	1,048	1,473	441	663
Interpump Antriebstechnik GmbH	2	2	-	-
Walvoil Mexico	24	52	44	13
Nuova SM S.r.l.	-	-	3	-
Total subsidiaries	1,207	1,568	780	950

B. CONSOLIDATED FINANCIAL STATEMENTS

		Payables	Costs
€/000	2025	2024	2025	2024
General Pump China Inc.	108	83	571	683
Interpump Hydraulics Perù	-	-	44	13
Interpump Antriebstechnik GmbH	82	37	405	250
Nuova SM S.r.l.	61	-	70	-
Total subsidiaries	251	120	1,090	946

2.12.2 Rela�ons with associates

The Group does not hold any associated companies.

2.12.3 Transac�ons with other related par�es

The 2025 income statement includes consultancy provided by en��es associated with Group directors and statutory auditors totaling € 122 thousand (€ 45 thousand in 2024). The consultancy costs were charged in full to general and administra�ve expenses in both 2025 and 2024. Revenues in 2025 included revenues from sales to companies held by Group shareholders or directors totaling € 976 thousand (€ 2,075 thousand in 2024). In addi�on, the cost of sales includes purchases from companies controlled by minority shareholders or Group company directors totaling € 5,060 thousand (€ 4,844 thousand in 2024).

2.13 Events occurring a�er the close of the year

On 17 February 2026, in the context of the plan to purchase treasury shares authorized at the Shareholders' Mee�ng held on 29 April 2025 pursuant to art. 144-(2) of Consob Regula�on 11971/1999, Interpump Group S.p.A. launched a program to purchase a total of 500,000 treasury shares on the MTA, organized and managed by Borsa Italiana S.p.A., between 17 February and 16 May 2026, at a maximum price of € 60.00 per share and, therefore, with a maximum outlay of € 30 million. For the purposes of implemen�ng this buy-back program, on 16 February 2026 the Company granted a specific mandate to Banca Akros S.p.A. that terminated on 11 March: on that date, Interpump Group S.p.A. held 2,985,087 shares in its por�olio, equal to 2.742% of the share capital, purchased at an average cost of € 37.97442.

With reference to the latest interna�onal conflict involving Iran, the United States and Israel, which broke out as a consequence of the military opera�ons carried out on 28 February 2026, the Group is monitoring developments and their effects - which are hard to quan�fy given the recent start of the conflict - on its economic and financial posi�on.

No other significant events worthy of men�on have taken place subsequent to 31 December 2025.

Annex 1: Cer�fica�on of the consolidated financial statements pursuant to art. 81-(3) of Consob regula�on no. 11971 of 14 May 1999, as amended

• 1. The undersigned, Fulvio Mon�pò and Mauro Barani, respec�vely Execu�ve Chairman and Manager responsible for dra�ing the accoun�ng documents of Interpump Group S.p.A., taking account also of the provisions of art. 154-(2), subsec�ons 3 and 4 of Decree 58 dated 24 February 1998, atest to:
• the adequacy in rela�on to the characteris�cs of the business and
• the effec�ve applica�on of the administra�ve and accoun�ng procedures for the forma�on of the consolidated financial statements during 2025.
• 1. It is further atested that the consolidated financial statements of Interpump Group S.p.A. and its subsidiaries for the year ended 31 December 2025, which report consolidated total assets of € 3,398,638 thousand, consolidated net profit of € 209,709 thousand and consolidated shareholders' equity of € 2,110,101 thousand:
• a) correspond to the results of the company books and accoun�ng entries;
• b) were prepared in compliance with the interna�onal accoun�ng standards approved by the European Commission pursuant to Regula�on (EC) no. 1606/2002 of the European Parliament and of the Council of 19 July 2002, and the enabling measures for art. 9 of Decree 38/2005, and are capable of providing a true and fair representa�on of the economic and financial posi�on of the Parent Company and the group of companies included within the consolida�on perimeter;
• c) include the report on opera�ons, which contains a reliable analysis of performance and results and the situa�on of the issuer and the companies included in the consolida�on together with a descrip�on of the main risks and uncertain�es to which they are exposed.

Sant'Ilario d'Enza (RE), 20 March 2026

Fulvio Mon�pò Mauro Barani

Executive Chairman Manager responsible for drafting the company's accounting documents

Annex 2: Atesta�on of the sustainability report pursuant to art. 81-(3), subsec�on 1, of Consob Regula�on no. 11971 of 14 May 1999, as amended

The undersigned, Fulvio Mon�pò and Mauro Barani, respec�vely Execu�ve Chairman and Manager responsible for dra�ing the accoun�ng documents of Interpump Group S.p.A., atest, pursuant to art. 154-(2), sub-sec�on 5-(3) of Decree 58 dated 24 February 1998, that the sustainability report included in the report on opera�ons was prepared:

• a) in conformity with the repor�ng standards applied pursuant to Direc�ve 2013/34/EU of the European Parliament and of the Council of 26 June 2013, and Decree 125 dated 6 September 2024;
• b) applying the specifica�ons adopted pursuant to art. 8, sub-sec�on 4, of Regula�on (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020.

Sant'Ilario d'Enza (RE), 20 March 2026

Fulvio Mon�pò Mauro Barani

Executive Chairman Manager responsible for drafting the company's accounting documents

Report of the Board of Statutory Auditors

Independent Auditors' Report on the consolidated financial statements

Key audit matters	Auditing procedures performed in response to key audit matters
Recoverability of goodwill
Sections 2.3.9 "Goodwill" and 2.3.11	We understood and evaluated the procedures
"Impairment of assets", Note 2.6.6 "Goodwill" of	adopted by the Group to verify the recoverability
the notes to the consolidated financial	of goodwill.
statements
	We examined the methodology adopted by the
As of 31 December 2025, the carrying amount of	Group to prepare the impairment test, approved
goodwill in the Group's consolidated financial	by the Company's board of directors on 13
statements totalled Euro 866 million, accounting	February 2026.
for 25 per cent of total assets. Goodwill is
allocated to the two cash generating units	As part of our audit we performed, among other
("CGUs"), "Water-Jetting" for Euro 251 million	things, the following main procedures:

B. CONSOLIDATED FINANCIAL STATEMENTS

Independent Auditors' Report on the limited examina�on of the consolidated sustainability report

C. DRAFT SEPARATE FINANCIAL STATEMENTS

REPORT ON OPERATIONS

1. SIGNIFICANT EVENTS DURING THE YEAR

The global economy was unstable throughout 2025.

The geopoli�cal tensions, caused by a mul�tude of ongoing conflicts and compounded by the trade tariff hikes (albeit mi�gated by recent agreements), have further heightened concerns about the prospects for growth.

The revised IMF es�mates indicate a 3.3% rise in global GDP in 2025, 3.3% in 2026, and 3.2% in 2027. These sta�s�cs are influenced by the worldwide slowdown in trade, mainly due to the imposi�on of customs barriers, as offset by increasing investment in the technological sector, principally linked to AI.

These es�mates may be further constrained by the direct and indirect effects of evolving trade policies, which could dampen the prospects for the global economy over the medium term.

Infla�on is easing in the world's leading economies, except in the United States, where the new tariffs have raised the cost of imports. Worldwide, the rate of infla�on is expected to fall to 4.1% in 2025 and to 3.8% in 2026 (source: IMF).

Given the stabiliza�on of infla�on and the forecasts for growth, the principal central banks held interest rates steady during Q4 2025. The United States again provided the excep�on, with the Fed making three consecu�ve rate cuts (25 basis points each) in September, October and December, to a range between 3.50% and 3.75%, amid concerns about both the rate of infla�on and a slowdown in the jobs market.

The OECD forecasts for 2026 indicate a slight slowdown in global growth, given the risks associated with heightened trade and geopoli�cal tensions, with possible correc�ons in the financial markets linked to the technological sectors.

The macroeconomic parameters available for the leading economies indicate as follows:

• the Euro area economy has demonstrated resilience, despite the challenging interna�onal environment.

GDP grew by 0.3% in real terms during Q3 2025, outpacing forecasts a�er the vola�lity experienced in the first half of the year. This instability was mainly due to the surge in trade ahead of the US tariff increases, and to the resul�ng uncertainty.

The Euro area economy grew by 0.3 percentage points more in Q4 than in Q3, consistent with the results achieved in the third quarter. Domes�c demand is likely to remain the principal driver of growth there, sustained by increases in real wages and employment, given the stability of the jobs market with unemployment rates at historical lows. External demand is also expected to increase, now that trade policies are less uncertain, despite gradual emergence of the effects of the tariff increases.

Infla�on should remain stable at around 2.1%, before easing to 1.9% in 2026 and 1.8% in 2027, and rising again to 2.0% in 2028. Based on the latest macroeconomic projec�ons, GDP growth forecasts have been revised up to 1.4% in 2025, 1.2% in 2026 and 1.4% in 2027, which should be maintained in 2028 (source: European Central Bank).

• In the United States, economic ac�vity slowed during 2025 (with forecast growth of 2%), a�er three years of robust expansion.

US imports spiked strongly at the start of the year, since purchases from abroad were brought forward to avoid the expected tariff increases (which subsequently came into force on 2 April). The resul�ng accelera�on in interna�onal trade was, however, just a transitory phenomenon. The subsequent slowdown came in combina�on with less dynamic employment growth rate and the impact on prices of the tariff increases.

Infla�on was stable through December 2025 at an annual rate of 2.7%, which remains above the stated objec�ve of 2%.

Given signs of stagna�on in the jobs market and, to date, the modest impact of the tariff hikes on prices, the Federal Reserve con�nued to relax monetary policy during 2025, with three consecu�ve rate cuts to 3.50%-3.75% by the end of December. The latest es�mates indicate a decline in GDP growth from 2.8% in 2024 to 2.1% in 2025, followed by 2.4% in 2026 (source: Bank of Italy - OECD - Fed).

• In China, growth was essen�ally stable during 2025, hampered by the weakness of domes�c demand and the crisis of investment in the real estate market and in industrial ac�vity. In order to tackle the weakness of domes�c demand, the Chinese authori�es introduced a tradein program during the year that included automobiles and consumer electronics. Exports weakened during Q2, especially to the United States, in view of the escala�on in tariffrelated trade tensions. The announced hikes were later suspended un�l November 2026, a�er the United States and China reached agreement on mul�ple trade topics, including tariff reduc�ons. Despite the smaller contribu�on from exports to the USA, the increased exports to Asia, La�n America and Europe resulted in annualized economic growth of 5.2% in the first 3 quarters of 2025, with a forecast of 5.0% for 2025 overall and 4.5% in 2026 (source: ISTAT/OECD/IMF).

In early July, the US government threat to raise the tariff on imports from Europe to 30% on 1 August caused consterna�on.

The US administra�on had already announced on 2 April 2025 a dras�c increase in tariffs on imports from almost every country, based on the size of their trade surpluses with the United States.

Addi�onally, the deprecia�on of the dollar against the euro (losing about 13% of its value since the start of 2025), has acted as an extra implicit tariff and made opera�ng condi�ons more complex for European exporters.

On 27 July 2025, the European Commission reached a framework agreement with the US government that fixes the standard tariff at 15%, as a replacement for those set earlier. Nevertheless, this is 13 percentage points higher than the effec�ve rate in force at the end of 2024.

In turn, the European Union scrapped the retaliatory measures already approved, agreeing to eliminate the tariffs on intermediate goods imported from the USA, facilitate access to certain US agricultural exports that meet EU standards, and acquire US energy products totaling about USD 750 billion during the period through 2028.

Implementa�on of this agreement is par�ally clouded by uncertain�es linked both to the need for approval from the European ins�tu�ons, s�ll not given at this �me, and to the risk of differences in interpreta�on.

The �ghtening of customs policies during 2025 has resulted in higher tariffs for certain categories of goods sold by the Company into the North America area. In this regard, the Company took certain countermeasures during 2025 to absorb these increases, while con�nuing to assess the developments arising from any new trade agreements.

The exposure of the Company to the countries involved in the Russia-Ukraine conflict remains limited. Specifically, revenues of € 0.2 million were invoiced to customers in Russia, Belarus and Ukraine during 2025 (also € 0.2 million in 2024), with no outstanding receivables at 31 December 2025 (no outstanding receivables also at the end of 2024).

As in previous years, the opera�ons of Interpump Group S.p.A. have, in addi�on to ordinary industrial ac�vi�es, concentrated on the strategic and managerial coordina�on of the Group, on the op�miza�on of its financial flows, and on the search for and selec�on of equity investments to acquire, with the aim of accelera�ng the growth of the Group. The acquisi�ons of Padoan S.r.l., Tutto Hidráulicos Ltda, Borghi Assali S.r.l., F.A.R.M.A. S.r.l. and Nuova S.M. S.r.l. during 2025 were consistent with this external growth strategy. A more complete discussion of these opera�ons is given in the "Report on opera�ons" accompanying the Consolidated Annual Financial Report at 31 December 2025.

Against this complex and uncertain macro and microeconomic background, the Company con�nues to demonstrate an ability to manage its manufacturing capacity efficiently.

2. PERFORMANCE AND RESULTS OF THE PARENT COMPANY

2.1 ALTERNATE PERFORMANCE MEASURES

The Company monitors its opera�ons using several alterna�ve performance measures that are not iden�fied as accoun�ng parameters in the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union, to allow beter evalua�on of the trend of economic opera�ons and the Company's financial posi�on; such measures are also tools that can assist the directors in iden�fying opera�ng trends and in making decisions on investments, resource alloca�on and other business maters. The measurement criterion applied by the Company may therefore differ from the criterion adopted by other companies and hence the Company may not be comparable with such other companies. Such alterna�ve performance measures are cons�tuted exclusively star�ng from the Company's historic data and measured in compliance with the maters established by the Guidelines on Alterna�ve Performance Measures issued by ESMA/2015/1415 and adopted by Consob with communica�on no. 92543 of 3 December 2015. The measures in ques�on refer only to performance in the accoun�ng period illustrated in this Annual Financial Report and the periods placed in comparison with it, and not to the expected performance and they must not be considered to replace the indicators provided by the reference accoun�ng standards (IFRS). Finally, the alternate measures are processed consistently and with uniformity of defini�on and representa�on for all periods for which financial informa�on is included in this Annual Financial Report.

The performance indicators used by the Company are defined as follows:

• Earnings/(Losses) before interest and tax (EBIT): Revenues plus Other opera�ng income less Opera�ng costs (Cost of sales, Distribu�on costs, General and administra�ve expenses, and Other opera�ng costs);
• Earnings/(Losses) before interest, tax, deprecia�on and amor�za�on (EBITDA): EBIT plus Deprecia�on, Amor�za�on, Writedowns and Provisions;
• Net Financial Posi�on: the sum of Financial and Bank debts less Cash and cash equivalents;
• Capital expenditure (CAPEX): the sum of investment in tangible and intangible fixed assets, net of divestments;
• Free Cash Flow: the cash flow available for the Company, defined as the difference between the Cash flow from opera�ng ac�vi�es and the Cash flow absorbed by investments in tangible and intangible fixed assets;
• Capital employed: calculated as the sum of Shareholders' equity and Net financial posi�on, including Debts for the acquisi�on of equity investments.

The income statement of Interpump Group S.p.A. is prepared by func�onal area (also called the "cost of sales" method). This format is deemed to be more representa�ve than its "type of expense" counterpart, which is nevertheless included in the Explanatory notes to the Annual Financial Report. The chosen format is consistent with internal repor�ng and the business management processes adopted. The cash flow statement is prepared using the indirect method.

2.2 INCOME STATEMENT FOR THE YEAR

Euro	2025	2024
Revenues	117,496,687	115,520,783
Cost of sales	(73,736,586)	(72,778,100)
Gross profit	43,760,101	42,742,683
Other net revenues	6,457,404	7,695,496
Distribution expenses	(6,495,124)	(6,499,664)
General and administrative expenses	(26,179,326)	(23,055,002)
Impairment losses on assets	(8,285,166)	(1,707,505)
Other operating costs	(224,516)	(1,633,751)
Dividends	135,489,745	108,297,476
EBIT	144,523,118	125,839,733
Financial income	3,574,000	6,232,311
Financial expenses	(22,414,455)	(31,133,398)
Profit for the year before taxes	125,682,663	100,938,646
Income taxes	(968,208)	403,094
Net profit for the year	124,714,455	101,341,740
Basic earnings per share	1.172	0.948
Diluted earnings per share	1.169	0.946

2.2.1 Revenues

Interpump Group S.p.A. booked net revenues of € 117.5 million in 2025 (€ 115.5 million in 2024). The analysis by geographical area of the revenues from sales and services is presented below:

€/000	2025	2024
Italy	25,562	23,391
Europe (Italy excluded)	35,822	33,073
Rest of the World	56,113	59,057
Total	117,497	115,521

2.2.2 Profitability

The cost of sales accounted for 62.8% of revenues (63.0% in 2024). Produc�on costs, which totaled € 37.4 million (€ 35.7 million in 2024), accounted for 31.8% of revenues in 2025 (30.9% in 2024). The purchase cost of raw materials and components sourced on the market, including changes in inventories, totaled € 36.4 million equivalent to 31.0% of revenues (€ 37.1 million in 2024).

Distribu�on costs totaled € 6.5 million (also € 6.5 million in 2024), reflec�ng a decrease in their incidence on revenues by 0.1 percentage point compared to 2024.

General and administra�ve expenses amounted to € 26.2 million (€ 23.1 million in 2024) and their incidence on revenues rose by 2.3 percentage points compared to 2024.

Payroll costs totaled € 30.3 million (€ 29.1 million in 2024) with an average of 444 employees (449 employees in 2024). The per capita cost was higher than in the prior year (+5.3%). In addi�on, the Company employed an average of 15 temporary workers during the year (11 temporary workers in 2024) at a cost of € 0.8 million (€ 0.6 million in 2024).

The reconcilia�on of the income statement to obtain sub-totals is shown below:

€/000	2025	% of revenues	2024	% of revenues
Ordinary profit before financial expenses	144,523		125,840
Dividends	(135,490)		(108,297)
Impairment losses on investments	8,068		1,620
Operating profit (EBIT)	17,101	14.6%	19,163	16.6%
Amortization, depreciation and write-downs	6,471		6,062
Gross operating profit (EBITDA)	23,572	20.1%	25,225	21.8%

EBIT amounted to € 17.1 million (14.6% of revenues) compared with € 19.2 million in 2024 (16.6% of revenues).

EBITDA totaled € 23.6 million or 20.1% of revenues, compared with € 25.2 million in 2024 or 21.8% of revenues.

The year ended 31 December 2025 closed with a net profit of € 124.7 million (€ 101.3 million in 2024). Dividends from subsidiaries recognized in the income statement totaled € 135.5 million in 2025 and € 108.3 million in 2024.

2.3 STATEMENT OF FINANCIAL POSITION

The following statement of financial posi�on is classified in terms of the sources and applica�ons of funds.

€/000	31/12/2025	%	31/12/2024	%
Trade receivables	19,415		16,005
Net inventories	30,429		29,890
Other current assets	44,872		36,610
Trade payables	(23,000)		(17,594)
Current taxes payable	(650)		(470)
Other current liabilities	(9,373)		(7,813)
Net working capital	61,693	4.9	56,628	4.5
Net intangible and tangible fixed assets	38,781		39,062
Goodwill	44,537		44,537
Equity investments	1,103,290		1,103,475
Other financial fixed assets	5,600		17,177
Other non-current assets	8,471		7,417
Liabilities for employee benefits	(3,257)		(3,373)
Non-current portion of provisions for risks and charges	(7,186)		(8,233)
Other non-current liabilities	(3,316)		(3,126)
Total net fixed assets	1,186,920	95.1	1,196,936	95.5
Total capital employed	1,248,613	100	1,253,564	100
Financed by:
Total shareholders' equity	803,575	64.4	719,020	57.4
Cash and cash equivalents	(108,857)		(109,558)
Bank debts	3,655		4,588
Interest-bearing financial debts (current portion)	194,968		209,448
Total current financial debts (liquid funds)	89,766	7.2	104,478	8.3
Total non-current financial debts	355,272	28.4	430,066	34.3
Total sources of financing	1,248,613	100	1,253,564	100

The format of the reclassified statement of financial posi�on makes it possible to appreciate the financial strength of the Company, highligh�ng its ability to maintain financial equilibrium over the long term.

2.3.1 Capital expenditure

Capital expenditure on tangible fixed assets was € 5.5 million (€ 4.0 million in 2024) and related to the normal renewal and moderniza�on of plant and equipment. The difference with respect to the expenditure recorded in the cash flow statement is due to the dynamics of payments.

Increases in intangible assets amounted to € 0.8 million (also € 0.8 million in 2024), mostly due to the capitaliza�on of product development costs.

2.3.2 Cash flow

The net financial posi�on at 31 December 2025 is € 445.0 million (€ 534.5 million at 31 December 2024). The changes during the year are analyzed in the table below:

€/000	2025	2024
Opening net financial position	(534,544)	(550,152)
Cash flow from operations	7,116	195
Principal portion of lease installments paid	(913)	(813)
Liquidity generated (absorbed) by operating capital	682	3,301
Liquidity generated (absorbed) by other current assets and liabilities	2,785	236
Net investment in tangible and intangible fixed assets	(6,504)	(4,229)
Financial income received	3,680	5,819
Other	1,295	1,629
Free cash flow	8,141	6,138
Proceeds (payments) from the disposal (purchase) of investments	(5,465)	(82,553)
Purchase of treasury shares	(16,594)	(10,337)
Proceeds from sales of treasury shares for stock options	4,754	581
Principal portion of lease installments paid	913	813
Principal portion of new leasing contracts arranged	(131)	(265)
Restatement and early redemption of leasing contracts	(33)	24
Dividends received from subsidiaries	135,495	108,285
Dividends paid	(35,147)	(34,231)
Change in other financial assets	(364)	(178)
Reimbursement (Disbursement) of loans from (to) subsidiaries	(2,063)	27,331
Net cash generated (used)	89,506	15,608
Net financial position at end of year	(445,038)	(534,544)

Net indebtedness, including payables and commitments, determined in accordance with ESMA guidance 32-382-1138 and included in Consob no�ce no. 5/21, comprises:

€/000	31/12/2025	31/12/2024	01/01/2024
Cash and cash equivalents	108,857	109,558	88,280
Current financial debts (excluding the current portion of non-current financial debts)	(4,565)	(5,447)	(6,042)
Current portion of non-current financial debts	(194,058)	(208,589)	(232,543)
Current net indebtedness	(89,766)	(104,478)	(150,305)
Non-current financial debts	(355,272)	(430,066)	(399,847)
Net financial position	(445,038)	(534,544)	(550,152)
Commitments for the acquisition of investments	-	-	-
Total net indebtedness	(445,038)	(534,544)	(550,152)

Had current and non-current financial assets (comprising loans granted to Group companies totaling € 37,377 thousand and € 5,600 thousand respec�vely) also been considered, total net indebtedness would have been € 402,061 thousand at 31 December 2025 (€ 493,630 thousand at 31 December 2024).

At 31 December 2025 all financial covenants are amply respected.

3. RISK FACTORS

The Company is exposed to the normal risks and uncertain�es of any business ac�vity. The markets in which the Company operates are world niche markets of moderate size and with few compe�tors. These market characteris�cs cons�tute a high barrier to the entry of new compe�tors, due to significant economy of scale effects against the backdrop of uncertain economic returns for poten�al new entrants. The Company retains world leadership posi�ons that mi�gate the risks and uncertain�es of the business ac�vity.

The business of the Company is exposed to various financial risks: market risk (including the exchange rate risk and interest rate risk), credit risk and liquidity risk. The financial risks management program is based on the unpredictability of financial markets and it is aimed at minimizing any nega�ve impact on the Company's financial performance. Interpump Group S.p.A. can use deriva�ve financial instruments to hedge against exchange and interest rate risks. The Company does not hold deriva�ve financial instruments of a specula�ve nature, in compliance with the rulings established by the procedure approved by the Board of Directors.

3.1 Market risks

a) Exchange rate risk

The Company does business interna�onally and is principally exposed to the exchange risk related to business conducted in US dollars. In this context, the Company invoices its US subsidiaries and a major US customer in dollars. The Company's current policy is to refrain from hedging recurring transac�ons and instead to hedge only exposures that are non-recurring in terms of amount or frequency of occurrence.

(b) Interest-rate risk

Interest-rate risk derives from medium/long-term loans granted at floa�ng rates. It is currently Company policy not to arrange hedges, in view of the short average dura�on of the exis�ng bank debts (around 3.5 years).

3.2 Credit risk

The Company does not have any significant concentra�ons of receivables. It is Company policy to make sales to customers following a careful assessment of their credit ra�ng and therefore within preset credit limits. Historically, the Company has not had to support any significant losses on receivables.

3.3 Liquidity risk

Prudent management of liquidity risk involves the reten�on of an appropriate level of cash on hand and sufficient access to lines of credit. Because of the dynamic nature of the business, which includes frequent acquisi�ons, it is Company policy to have access to stand-by lines of credit that can be u�lized at short no�ce.

3.4 Price and cash flow risk

The Company is subject to constant changes in metal prices, especially brass, aluminum, stainless steel and steel. It is Company policy to hedge this risk where possible by way of medium-term commitments with suppliers or stockpiling policies when prices are at the low point of their cycle. The vola�lity of raw material prices during 2025 differed depending on the sector. The prices charged for steel (both stainless and for reinforcement and restora�on purposes) and cast iron remained stable overall, as did electricity and gas costs, which were in line with the prior year. The price of aluminum, on the other hand, followed an irregular patern, with a fall in the summer months that was followed by marked recovery at year end. The situa�on regarding copper, brass and cobalt was more cri�cal, with marked rises during the final quarter given the tensions affec�ng global demand and supply chains. During the year, the Company some�mes decided to purchase larger quan��es in order to guarantee the availability of the materials needed for produc�on purposes. The Company constantly monitors the price trend of these raw materials in the atempt to adopt the most effec�ve policies to minimize poten�al exposure to this risk.

The income and cash flow from the Company's opera�ng ac�vi�es are not influenced much by changes in interest genera�ng assets.

The Company is monitoring developments carefully with regard to the import tariffs imposed on countries by the United States, and the counter-measures taken by them, analyzing the poten�al impacts on the business and studying the ac�ons to be taken to mi�gate their poten�al adverse effects.

3.5 Climate change risk

With regard to climate change, the Company does not fall with the scope of Direc�ve 2003/87/EC (as amended most recently by Direc�ve (EU) 2018/410), which introduced and governs the European Union Emissions Trading System (EU ETS). The ETS is the principal tool adopted by the European Union to reach the CO² reduc�on targets established for the principal industrial sectors and avia�on. Although the Company is not included in the industrial sectors covered by the ETS, it is nevertheless commited to combat climate change.

Commencing from 2024, in accordance with Direc�ve (EU) 2022/2426 (Corporate Sustainability Repor�ng Direc�ve - CSRD), adopted in Italy by Decree 125/2024, the Interpump Group reports the material impacts, risks, opportuni�es, policies, ac�ons, objec�ves, business model and performance metrics in sec�on 2.1 - ESRS E1 - Climate change of the CSRD chapter in the Consolidated Annual Financial Report.

Based on a scenario analysis of corporate loca�ons, the impacts of physical risks (acute and chronic) on assets and revenues were not considered significant and, accordingly, no specific provisions or asset writedowns have been recorded at 31 December 2025.

Again in view of the above, the forecasts reflected in the five-year business plan used for the impairment test of goodwill were not significantly affected by the above physical, climate-related risks but, nevertheless, were prepared in a prudent manner that contains the expected level of future cash flows.

The Company is also poten�ally exposed to risks deriving from the impacts of future, more restric�ve laws and regula�ons governing energy efficiency and climate change, that may result in increased opera�ng costs.

3.6 Geo-poli�cal risk

The interna�onal macroeconomic environment con�nues to reflect a high level of uncertainty, caused by the geo-poli�cal tensions and conflicts in various areas of the world, not least the Middle East.

These tensions intensified during 2025 following episodes of instability in the Gulf area and growing fric�on between Iran, the USA, Israel and other interna�onal players. As a consequence, the energy markets became more vola�le and fears for global infla�on increased. The geo-poli�cal situa�on has escalated further in early 2026, with the outbreak of conflict involving Iran and other regional and interna�onal powers. These dynamics could indirectly impact global market trends and the industrial sectors in which the Company operates, with possible adverse effects on the availability and cost of raw materials, supply chain efficiencies, interna�onal logis�cs and, not least, energy prices and exchange rates.

The Company con�nues to monitor geo-poli�cal and macroeconomic developments with care, assessing the poten�al direct and indirect effects should current conflicts escalate further, even though these are difficult to quan�fy at present. Where appropriate, the Company takes steps to mi�gate the poten�al adverse impacts, including via geographical diversifica�on of the sources of supply, stronger rela�ons with alternate suppliers and careful management of opera�ng and financial risks.

4. OTHER INFORMATION

4.1 Corporate Governance

At 31 December 2025, the Company holds 2,494,087 treasury shares corresponding to 2.291% of share capital, acquired at an average unit cost of € 37.96064.

With regard to stock op�on plans and the shares in the Company and in subsidiaries held by directors, statutory auditors and general managers, you are invited to consult the "Board of Directors' Report", which is atached to the Consolidated Annual Financial Report.

The Company is not subject to management and coordina�on ac�vi�es. Leila Mon�pò e Sorelle S.A.p.A., formed on 6 November 2020, holds a controlling interest pursuant to art. 2359, subsec�on 2, of the Italian Civil Code in Gruppo IPG Holding S.p.A. and, accordingly, is the company required to prepare the consolidated financial statements of the largest group, given the exemp�on clauses envisaged in art. 27 of Decree 127 dated 9 April 1991: the financial statements that include the data of Interpump Group S.p.A. and its subsidiaries are prepared in accordance with the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union, and are available from the Milan Companies Register.

Leila Mon�pò e Sorelle S.A.p.A. does not carry out management and coordina�on ac�vi�es in rela�on to Gruppo IPG Holding S.p.A. and is also not subject to any management and coordina�on ac�vi�es.

In turn, Gruppo IPG Holding S.p.A. prepares consolidated financial statements on a voluntary basis, although this is no longer required from FY 2021, since that requirement is now placed on its parent company, "Leila Mon�pò e Sorelle S.A.p.A.".

Gruppo IPG Holding S.p.A. does not carry out any management or coordina�on ac�vi�es in rela�on to Interpump Group S.p.A. and is also not subject to any management and coordina�on ac�vi�es.

4.2 Rela�ons with subsidiaries

The Company also operates through subsidiaries with which it maintains commercial and financial rela�ons. These rela�ons are detailed in the table below.

€/000	Trade receivables		Revenues
Subsidiaries	31/12/2025	31/12/2024	2025	2024
GP Companies Inc.	4,818	3,382	28,043	26,061
NLB Corporation Inc.	130	699	2,429	5,534
Interpump Hydraulics India Ltd	840	268	1,470	1,166
Interpump Hydraulics Brasil	154	57	592	151
Muncie Power Inc.	15	86	398	460
IMM Hydraulics S.p.A.	160	131	311	350
General Pump China Inc.	133	41	253	231
Hammelmann S. L.	16	19	228	131
Inoxpa South Africa	149	27	224	115
Inoxpa S.A.	79	25	202	132
Inoxihp S.r.l.	62	42	182	116

€/000	Trade receivables		Revenues
Subsidiaries	31/12/2025	31/12/2024	2025	2024
GS-Hydro UK Ltd	44	41	157	137
Inoxpa Colombia Sas	139	3	153	30
Inoxpa Skandinavien A/S	-	-	133	1
Alfa Valvole S.r.l.	34	33	104	52
Pioli S.r.l.	-	-	96	89
Hammelmann GmbH	19	94	95	361
Inoxpa China Flow Technology Co., Ltd	2	1	80	33
Inoxpa Solutions France Sas	15	18	75	114
Interpump Hydraulics France S.a.r.l.	10	6	71	35
Inoxpa Italia S.r.l.	3	-	70	4
GS-Hydro Austria GmbH	18	16	68	55
GS-Hydro Korea Ltd	18	13	60	53
Interpump Hydraulics (UK) Ltd	-	-	55	30
GS-Hydro S.A.U	21	13	54	39
GS-Hydro Denmark AS	20	9	53	30
GS-Hydro Piping Systems Co. Ltd	15	12	52	48
GS-Hydro Benelux B.V.	11	11	51	37
Hydrocar Chile S.A.	-	-	49	9
GS-Hydro Sp. z o.o.	10	10	38	32
Shanghai PuPeng Flow Technology Co., Ltd	-	-	36	-
Inoxpa Solutions Moldova	-	3	32	3
Hammelmann Australia Pty Ltd	5	69	29	78
SIT S.p.A.	-	-	28	26
Improved Solutions Unipessoal Ltda	1	-	20	17
Interpump Hydraulics S.p.A.	63	24	16	11
Walvoil S.p.A.	23	22	13	12
Mega Pacific Pty Ltd	1	-	12	-
Inoxpa Ukraine	-	-	10	15
Interpump Piping GS S.r.l.	6	6	10	10
Eurofluid Hydraulic S.r.l.	1	1	9	9
GS-Hydro Ab	2	3	9	10
Interpump South Africa Pty Ltd	5	-	8	-
Hydroven S.r.l.	3	4	7	12
GS-Hydro U.S. Inc.	2	2	7	7
H.S. S.r.l.	-	-	6	-
Tubiflex S.p.A.	-	1	6	6
GS-Hydro Singapore Pte Ltd	2	1	6	5
Unidrò Contarini Sarl	-	2	5	7
Mega Pacific NZ Pty Ltd	5	-	5	6
GS-Hydro do Brasil Sistemas Hidráulicos Ltda	1	1	5	4
Servizi Industriali S.r.l.	-	-	5	5
Oleodinamica Panni S.r.l.	2	2	3	-
Tekno Tubi S.r.l.	1	1	3	3
Nuova S.M. S.r.l.	-	-	3	-
Transtecno BV	-	-	3	13
Reggiana Riduttori S.r.l.	19	17	2	2

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

€/000		Trade receivables		Revenues
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Transtecno S.r.l.	3	3	2	2
I.mec S.r.l.	-	-	-	1
Hammelmann Corporation Inc.	9	-	-	-
Contarini Leopoldo S.r.l.	2	2	-	-
Waikato Milking Systems LP	1	1	-	-
White Drive Motors and Steering LLC	-	8	-	-
White Drive Motors and Steering Sp. z o.o.	-	6	-	-
Hydra Dyne Technology Inc.	-	3	-	-
American Mobile Power Inc.	-	1	-	-
Total	7,092	5,240	36,146	35,900

The Company also has a receivable from Interpump Piping GS S.r.l. of € 6 thousand (receivable of € 52 thousand in 2024) following membership of the domes�c tax group from 2018, as subsequently renewed.

€/000	Trade payables		Costs
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Pioli S.r.l.	287	119	1,014	945
IMM Hydraulics S.p.A.	195	56	638	223
Interpump Hydraulics S.p.A.	143	162	343	373
I.mec S.r.l.	27	1	244	8
SIT S.p.A.	48	52	152	160
Inoxpa Italia S.r.l.	57	-	125	52
Walvoil S.p.A.	41	17	114	66
General Pump China Inc.	40	25	91	79
Hammelmann GmbH	29	1	84	252
Transtecno S.r.l.	10	9	66	32
GP Companies Inc.	14	16	41	50
Inoxihp S.r.l.	8	28	36	91
Inoxpa India Pvt Ltd	5	-	31	-
Walvoil Fluid Power Pvt Ltd.	4	-	27	-
Hydroven S.r.l.	5	12	24	35
Hammelmann S. L.	15	-	15	-
Inoxpa Colombia Sas	3	-	3	-
White Drive Motors and Steering Sp. z o.o.	2	-	2	-
Contarini Leopoldo S.r.l.	1	-	1	-
Improved Solutions Unipessoal Ltda	-	-	-	138
Reggiana Riduttori S.r.l.	-	-	-	10
Hydrocar Chile S.A.	-	-	-	2
Inoxpa S.A.	-	-	-	1
Total	934	498	3,051	2,517

The Company also has a payable to Walvoil S.p.A. of € 2,950 thousand (payable of € 1,895 thousand in 2024) following membership of the domes�c tax group from the 2024 tax year.

Financial rela�ons are outlined below:

€/000	Loans granted		Interest income
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Interpump Hydraulics S.p.A.	23,000	8,000	424	339
IMM Hydraulics S.p.A.	8,000	15,000	407	927
Tubiflex S.p.A.	5,000	7,500	268	402
GS-Hydro UK Ltd	2,800	160	113	15
Hydra Dyne Technology Inc.	2,077	4,154	75	130
GS-Hydro Korea Ltd	2,100	2,100	63	63
White Drive Motors and Steering GmbH	-	4,000	13	230
Muncie Power Inc.	-	-	-	326
Interpump Piping GS S.r.l.	-	-	-	18
Tekno Tubi S.r.l.	-	-	-	7
Inoxihp S.r.l.	-	-	-	5
Total	42,977	40,914	1,363	2,462

The intercompany loans outstanding at 31 December 2025 earn interest at 3-month Euribor upli�ed by a spread that fluctuated between 100 and 150 basis points, except for certain fixed-rate loans granted in a range between 1.95% and 3.50%. At 31 December 2025, interest receivable amounts to € 267 thousand (€ 402 thousand at 31 December 2024), as analyzed below:

€/000	Interest receivable
Subsidiaries	31/12/2025	31/12/2024
Interpump Hydraulics S.p.A.	89	44
IMM Hydraulics S.p.A.	70	182
Tubiflex S.p.A.	49	79
GS-Hydro UK	28	2
GS-Hydro Korea Ltd	16	16
Hydra Dyne Technology Inc.	15	25
White Drive Motors and Steering GmbH	-	54
Total	267	402

The following dividends have been credited to the income statement:

€/000	Dividends receivable		Dividends
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Hammelmann GmbH	-	-	40,000	30,000
Walvoil S.p.A.	-	-	22,750	22,750
Reggiana Riduttori S.r.l.	-	-	20,000	20,000
Transtecno S.r.l.	-	-	13,500	8,000
Inoxpa S.A.	-	-	10,000	10,000
Interpump Hydraulics S.p.A.	-	-	8,000	-
NLB Corporation Inc.	-	-	5,153	3,730
Interpump Piping GS S.r.l.	-	-	5,000	4,000
GP Companies Inc.	-	-	4,313	6,545
Alfa Valvole S.r.l.	-	-	4,000	-
I.mec S.r.l.	-	-	1,610	1,540
Servizi Industriali S.r.l.	-	-	630	1,200

€/000	Dividends receivable		Dividends
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Inoxihp S.r.l.	-	-	527	527
Walvoil Fluid Power Pvt Ltd.	-	-	7	5
Tubiflex S.p.A.	1,280	1,280	-	-
Total	1,280	1,280	135,490	108,297

4.3 Transac�ons with related par�es

In accordance with IFRS 16, the financial statements report interest-bearing financial debts of € 751 thousand (€ 1,445 thousand at 31 December 2024) and financial expenses due to discoun�ng the rentals payable to related par�es of € 39 thousand (€ 84 thousand at 31 December 2024). Other costs totaling € 19 thousand (€ 12 thousand in 2024) have also been charged to the income statement.

The above transac�ons were carried out on arm's-length condi�ons.

4.4 Research, development and design work

2025 saw the comple�on of 2 projects for the development of new pumps, as well as the start of 8 new projects.

The posi�ve outcome of these innova�ons should generate good results in terms of revenues, with a beneficial effect on the performance of the business.

It is Company policy to con�nue to invest heavily in research and development in future years in order to add further impetus to organic growth. Product development costs totaling € 569 thousand were capitalized in 2025, since they will benefit future years, while an amount of € 154 thousand was charged to the income statement.

4.5 Environment, health and safety

The Company is engaged exclusively in mechanical engineering and components assembly ac�vi�es that are not accompanied by the emission of pollutants into the environment. The produc�on process is performed in compliance with statutory legisla�on. The Company is exposed to risks associated with occupa�onal health and safety and the environment, typical of a company that performs manufacturing and sales ac�vi�es in different geographical contexts.

In rela�on to occupa�onal health and safety and the environment the Company applies interna�onal standards ISO 9001, ISO 14001 and OHSAS 18001.

5. EVENTS OCCURRING AFTER THE CLOSE OF THE YEAR AND BUSINESS OUTLOOK

No atypical or unusual transac�ons have been carried out subsequent to 31 December 2025 that would call for changes to these separate financial statements.

On 17 February 2026, in the context of the plan to purchase treasury shares authorized at the Shareholders' Mee�ng held on 29 April 2025 pursuant to art. 144-(2) of Consob Regula�on 11971/1999, Interpump Group S.p.A. launched a program to purchase a total of 500,000 treasury shares on the MTA, organized and managed by Borsa Italiana S.p.A., between 17 February and 16 May 2026, at a maximum price of € 60.00 per share and, therefore, with a maximum outlay of € 30 million. For the purposes of implemen�ng this buy-back program, on 16 February 2026 the Company granted a specific mandate to Banca Akros S.p.A. that terminated on 11 March: on that date, Interpump Group S.p.A. held 2,985,087 shares in its por�olio, equal to 2.742% of the share capital, purchased at an average cost of € 37.97442.

With specific reference to the latest interna�onal conflict involving Iran, the United States and Israel, which broke out consequent to the military opera�ons carried out on 28 February 2026, the Company is monitoring developments and their effects - which are hard to quan�fy given the recent start of the conflict - on its economic and financial posi�on.

The scenarios that marked FY2025 have not changed significantly in the first few weeks of 2026. The environment therefore remains complex and difficult to read, with the early months of 2026 expected to be the most challenging period of the en�re year. In this highly complex interna�onal context, the Company will con�nue to implement all countermeasures designed to protect and consolidate its margins, with the further objec�ve of maintaining and ideally increasing the level of cash genera�on.

6. PROPOSAL TO THE SHAREHOLDERS' MEETING

The profit for the year was € 124,714,455. We propose:

• • par�al distribu�on of the profit for the year to the shareholders by declaring a dividend of EUR 0.35 for each share in circula�on, including the right as per art. 2357-(3) subsec�on 2 of the Italian Civil Code.
• alloca�on of the remaining profit for the year to the Extraordinary Reserve (since the legal reserve has already reached the limit of one-fi�h of the subscribed and paid-up share capital).

Sant'Ilario d'Enza (RE), 20 March 2026

For the Board of Directors

Fulvio Mon�pò

Executive Chairman

DRAFT FINANCIAL STATEMENTS OF THE PARENT COMPANY

INTERPUMP GROUP S.p.A.

Registered Office: S. Ilario d'Enza (RE) Via E. Fermi 25 Share Capital: € 56,617,232.88 Tax Code and Companies Register number 11666900151 VAT number 01682900350

1. FINANCIAL STATEMENTS

STATEMENT OF FINANCIAL POSITION

ASSETS
Euro	Notes	31/12/2025	31/12/2024
Current assets
Cash and cash equivalents	2.3.1	108,856,994	109,557,623
Trade receivables	2.3.2, 2.3.18	19,414,698	16,004,542
Dividends receivable	2.3.18	1,279,700	1,279,700
Inventories	2.3.3	30,429,299	29,889,948
Tax receivables		5,353,526	7,492,231
Current financial assets	2.3.9, 2.3.18	37,377,000	23,737,000
Other current assets	2.3.4, 2.3.18	862,284	4,101,539
Total current assets		203,573,501	192,062,583
Non-current assets
Property, plant and equipment	2.3.5	35,544,451	35,609,868
Goodwill	2.3.6	44,536,997	44,536,997
Other intangible fixed assets	2.3.7	3,237,176	3,452,030
Investments in subsidiaries	2.3.8	1,103,289,584	1,103,474,536
Other financial assets	2.3.9, 2.3.18	5,600,155	17,177,155
Tax receivables		388,215	235,074
Deferred tax assets	2.3.10	8,070,864	7,170,853
Other non-current assets		11,354	11,551
Total non-current assets		1,200,678,796	1,211,668,064
Total assets		1,404,252,297	1,403,730,647

LIABILITIES AND SHAREHOLDERS' EQUITY

Euro	Notes	31/12/2025	31/12/2024
Current liabilities
Trade payables	2.3.12, 2.3.18	23,000,171	17,593,743
Bank debts	2.3.11, 2.3.18	3,655,133	4,588,052
Interest-bearing financial debts (current portion)	2.3.11, 2.3.18	194,968,242	209,448,074
Tax liabilities		650,300	469,738
Other current liabilities	2.3.12, 2.3.18	9,057,373	7,519,543
Accrued expenses and deferred income		315,332	293,981
Total current liabilities		231,646,551	239,913,131
Non-current liabilities
Interest-bearing financial debts	2.3.11, 2.3.18	355,272,441	430,066,153
Liabilities for employee benefits	2.3.14	3,256,490	3,372,606
Deferred tax liabilities	2.3.10	687,241	674,287
Other non-current liabilities	2.3.15	2,628,594	2,451,203
Provisions for risks and charges	2.3.13	7,186,096	8,232,784
Total non-current liabilities		369,030,862	444,797,033
Total liabilities		600,677,413	684,710,164
SHAREHOLDERS' EQUITY
Share capital	2.3.16	55,320,308	55,505,284
Legal reserve	2.3.17	11,323,447	11,323,447
Share premium reserve	2.3.16	37,313,548	42,390,099
Reserve from remeasurement of defined benefit plans	2.3.17	(2,010,574)	(2,074,358)
Other reserves	2.3.17	701,628,155	611,876,011
Total shareholders' equity		803,574,884	719,020,483
Total shareholders' equity and liabilities		1,404,252,297	1,403,730,647

INCOME STATEMENT

Euro	Notes	2025	2024
Revenues	2.4.1	117,496,687	115,520,783
Cost of sales	2.4.3	(73,736,586)	(72,778,100)
Gross profit		43,760,101	42,742,683
Other net revenues	2.4.2	6,457,404	7,695,496
Distribution expenses	2.4.3	(6,495,124)	(6,499,664)
General and administrative expenses	2.4.3	(26,179,326)	(23,055,002)
Impairment losses on assets	2.3.7, 2.3.8	(8,285,166)	(1,707,505)
Other operating costs	2.4.3	(224,516)	(1,633,751)
Dividends	2.3.8	135,489,745	108,297,476
EBIT		144,523,118	125,839,733
Financial income	2.4.4	3,574,000	6,232,311
Financial expenses	2.4.4	(22,414,455)	(31,133,398)
Profit for the year before taxes		125,682,663	100,938,646
Income taxes	2.4.5	(968,208)	403,094
Net profit for the year		124,714,455	101,341,740
Basic earnings per share	2.5	1.172	0.948
Diluted earnings per share	2.5	1.169	0.946

COMPREHENSIVE INCOME STATEMENT

€/000	Notes	2025	2024
Net profit (A)		124,714	101,342
Profit (loss) that will not subsequently be reclassified to profit
Profit (Loss) deriving from the restatement of defined benefit plans		84	53
Applicable taxes		(20)	(12)
Total other comprehensive income (loss) that will not subsequently be reclassified to profit, net of tax effect (B)	2.3.17	64	41
Comprehensive net profit (A) + (B)		124,778	101,383

CASH FLOW STATEMENT

€/000	Notes	2025	2024
Cash flows from operating activities
Profit before taxes		125,683	100,939
Adjustments for non-cash items:
Losses (gains) on the sale of fixed assets		(32)	(17)
Amortization and depreciation of tangible and intangible fixed assets	2.4.3	6,468	6,060
Costs recognized in the income statement relative to stock options that do not involve monetary outflows for the Company	2.4.3	6,240	4,970
Impairment losses (writebacks) on assets	2.3.8	8,068	1,620
Net change in risk provisions and allocations to employee benefit provisions		(1,154)	580
Dividends credited to the income statement	2.3.8	(135,490)	(108,297)
Net financial expenses (income)	2.4.4	18,840	24,901
		28,623	30,756
(Increase) decrease in trade receivables and other current assets	2.3.2, 2.3.4	(2,081)	(4,067)
(Increase) decrease in inventories	2.3.3	(540)	1953
Increase (decrease) in trade payables and other current liabilities	2.3.2, 2.3.12	6,088	5,651
Taxes paid	2.4.5	1,522	1,170
Interest paid	2.4.4	(22,401)	(31,988)
Realized exchange differences		(628)	257
Net cash from operating activities		10,583	3,732
Cash flows from investing activities
Outlay for the acquisition of equity investments net of treasury shares assigned	2.3.8	(5,465)	(82,553)
Disbursements for purchase of treasury shares		(16,594)	(10,337)
Proceeds from sales of treasury shares for stock options	2.3.16	4,754	581
Capital expenditure on property, plant and equipment	2.3.5	(5,919)	(3,619)
Proceeds from the sale of tangible fixed assets	2.3.5	54	83
Increase in intangible fixed assets	2.3.7	(639)	(693)
Financial income received	2.4.4	3,680	5,819
Other		(364)	(178)
Net liquidity generated (used) by investing activities		(20,493)	(90,897)

€/000	Notes	2025	2024
Cash flows from financing activities
Dividends received from subsidiaries	2.3.8	135,495	108,285
Dividends paid	2.3.17	(35,147)	(34,231)
(Disbursal) Repayment of intercompany loans, net of treasury shares assigned	2.3.9	(2,063)	27,331
Disbursals (repayments) of loans and bonds	2.3.11	(87,732)	8,091
Payment of finance lease installments (principal)		(913)	(813)
Other		502	434
Net cash generated by (used in) financing activities		10,142	109,097
Net increase (decrease) in cash and cash equivalents		232	21,932
Cash and cash equivalents at the beginning of the year	2.7	104,970	83,038
Cash and cash equivalents at the end of the year	2.7	105,202	104,970

See Note 2.7 for the reconcilia�on of cash and cash equivalents.

STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY

€/000	Notes	Share capital	Legal reserve	Share premium reserve	Remeasurement reserve for defined benefit plans	Other reserves	Total shareholders' equity
At 1 January 2024		55,625	11,323	46,883	(2,115)	544,646	656,362
Dividends paid		-	-	-	-	(34,231)	(34,231)
Recognition in the income statement of the fair value of stock options granted to and exercisable by Interpump Group S.p.A. employees.		-	-	4,970	-	-	4,970
Fair value measurement of the stock options granted to and exercisable by employees of subsidiaries		-	-	292	-	-	292
Purchase of treasury shares		(130)	-	(10,337)	-	130	(10,337)
Sale of treasury shares to the beneficiaries of stock options		10	-	581	-	(10)	581
Comprehensive net profit for the year 2024		-	-	-	41	101,342	101,383
At 31 December 2024	2.3.16, 2.3.17	55,505	11,323	42,389	(2,074)	611,877	719,020
Dividends paid		-	-	-	-	(35,147)	(35,147)
Recognition in the income statement of the fair value of stock options granted to and exercisable by Interpump Group S.p.A. employees.		-	-	6,240	-	-	6,240
Fair value measurement of the stock options granted to and exercisable by employees of subsidiaries		-	-	524	-	-	524
Purchase of treasury shares		(260)	-	(16,594)	-	260	(16,594)
Sale of treasury shares to the beneficiaries of stock options		75	-	4,754	-	(75)	4,754
Comprehensive net profit for the year 2025		-	-	-	64	124,714	124,778
At 31 December 2025	2.3.16, 2.3.17	55,320	11,323	37,313	(2,010)	701,629	803,575

2. EXPLANATORY NOTES

2.1 General informa�on

Interpump Group S.p.A. is a company, incorporated under Italian law with registered offices in Sant'Ilario d'Enza (RE), that is listed on the Milan Stock Exchange.

The Company manufactures and markets high and very high pressure plunger pumps, and has direct and indirect controlling interests in 131 companies. Interpump Group S.p.A. has produc�on facili�es in Sant'Ilario d'Enza (RE). For informa�on on the Group's opera�ons, refer to the "Board of Directors' Report" atached to the Consolidated Annual Financial Report.

The financial statements at 31 December 2025, prepared on a going concern basis, were approved by the Board of Directors at the mee�ng held on 20 March 2026.

2.2 Accoun�ng policies adopted

2.2.1 Reference accoun�ng standards

The financial statements at 31 December 2025 have been prepared in compliance with the Interna�onal Financial Repor�ng Standards ("IFRS") issued by the Interna�onal Accoun�ng Standards Board ("IASB") and endorsed by the European Union. "IFRS" also means the Interna�onal Accoun�ng Standards ("IAS") currently in force and all the interpreta�ve documents issued by the IFRS Interpreta�on Commitee, previously denominated Interna�onal Financial Repor�ng Interpreta�ons Commitee ("IFRIC") and s�ll earlier known as the Standing Interpreta�ons Commitee ("SIC").

The statement of financial posi�on and the income statement are presented in euro, while the other schedules and notes are presented in thousands of euro. The financial statements are prepared using the cost method, with the excep�on of financial instruments, which are measured at fair value.

Prepara�on of a report in compliance with IFRS (Interna�onal Financial Repor�ng Standards) calls for judgments, es�mates, and assump�ons that effect assets, liabili�es, costs and revenues. The final results may differ from the results obtained using es�mates of this type. The cap�ons of the financial statements that call for more subjec�ve appraisal by the directors when preparing es�mates and for which a change in the condi�ons underlying the assump�ons u�lized could have a significant effect on the financial statements are: goodwill, amor�za�on and deprecia�on of fixed assets, deferred tax assets and liabili�es, the allowance for doub�ul accounts and the allowance for inventories, provisions for risks and charges, defined benefit plans for employees, the recoverability of the value of investments and liabili�es for the acquisi�on of investments included under other liabili�es.

In par�cular, discre�onary measurements and significant accoun�ng es�mates are made to determine the recoverable value of each equity investment. Their purpose is to iden�fy possible evidence of impairment, forecast profitability over the period covered by the Group Business Plan, determine the normalized cash flows needed to es�mate terminal value, and establish the long-term growth and discoun�ng rates applied to the forecasts of future profitability. The key assump�ons used to measure equity investments, including a sensi�vity analysis, are described in Note 2.3.8.

The Company's income statement is prepared by func�onal areas (or cost of sales), this form being considered more representa�ve than presenta�on by type of sales, this informa�on being specified in the notes to the financial statements. The chosen format is consistent with internal repor�ng and the

business management processes adopted. For a comprehensive analysis of the Group's economic results, see the "Board of Director's Report" atached to the Consolidated Annual Financial Report.

The repor�ng formats and related classifica�on criteria adopted by the Company are indicated below.

In the context of the op�ons envisaged in IAS 1 - Presenta�on of financial statements, the statement of financial posi�on classifies assets and liabili�es in accordance with the "current/non-current" criterion.

The income statement classifies opera�ng costs by the purpose for which they were incurred; in compliance with IFRS requirements, the statement of comprehensive income includes, in addi�on to the results for the year, income and costs not recognized in the income statement for the year, as required by the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union.

The cash flow statement presents the cash flows from opera�ng ac�vi�es using the "indirect method".

2.2.1.1 Accounting standards, amendments and interpretations in force from 1 January 2025 and adopted by the Company

As from 2025 the Company has applied the following new accoun�ng standards, amendments and interpreta�ons, reviewed by IASB:

• Amendments to IAS 21 - The effects of changes in foreign exchange rates: lack of exchangeability. The IASB published an amendment on 15 August 2023 that contains guidelines to clarify when one currency is exchangeable into another currency and how to determine the exchange rate when, by contrast, it is not exchangeable. The amendments took effect on 1 January 2025. Early adop�on is allowed.

The adop�on of this standard had no significant effects on the financial statements of the Company.

2.2.1.2 Accounting standards, amendments and interpretations in force from 1 January 2025 but not relevant for the Company

All accoun�ng standards that took effect from 1 January 2025 are relevant for the Company.

2.2.1.3 Accounting standards and amendments not yet applicable and not adopted early by the Company

• IFRS 18 - Presentation and Disclosure in Financial Statements. On 9 April 2024, the IASB published a new standard that introduces certain important disclosures to be made in the explanatory notes to the financial statements when performance indicators are used that, as per the new standard, fall within so-called Management-defined Performance Measures. This ensures more transparent and comparable informa�on for investors on the financial results of companies. This standard will apply to all companies that report under the IFRS issued by the Interna�onal Accoun�ng Standards Board and adopted by the European Union. The amendments are effec�ve for annual periods beginning on or a�er 1 January 2027. Early adop�on is allowed.

During 2025, the Company began work to analyze and assess the poten�al impacts of applying IFRS 18.

The effects of applying this standard are s�ll being assessed and, at this �me, its impacts on the financial statements of the Company have not yet been determined.

• IFRS 19 - Subsidiaries without Public Accountability: Disclosures. On 9 May 2024, the IASB published a new standard for subsidiaries without public accountability, which allows qualifying subsidiaries to apply IFRS with limited disclosures. The applica�on of IFRS 19 will reduce the cost of preparing the financial statements of subsidiaries, while retaining the usefulness of the informa�on provided to the users of their accounts. The amendments are effec�ve for annual periods beginning on or a�er 1 January 2027. Early adop�on is allowed.
• Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments. On 30 May 2024, the IASB published an Exposure Dra� that amends in par�cular IFRS 9 (Financial Instruments) and IFRS 7 (Financial Instruments: Disclosures), proposing amendments to ensure inter alia that the financial statements reflect more fairly the effects that contracts for renewable electricity have on a company. The amendments are effec�ve for annual periods beginning on or a�er 1 January 2026. Early adop�on is allowed.
• Annual improvements to IFRS - Volume 11. On 19 July 2024, the IASB published this document containing clarifica�ons, simplifica�ons, correc�ons and amendments to the IFRS that improve their internal consistency. The following accoun�ng standards were modified: IFRS 1 First-�me Adop�on of Interna�onal Financial Repor�ng Standards, IFRS 7 Financial Instruments: Disclosures and its accompanying Guidance on implemen�ng IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows. The amendments are effec�ve from 1 January 2026. Early adop�on is allowed.
• Amendments to IFRS 9 and IFRS 7, Amendments to the Contracts Referencing Nature-dependent Electricity. On 18 December 2024, the IASB published amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures, to help en��es report beter the financial effects of contracts structured as Power Purchase Agreements (PPAs), so that investors receive clearer informa�on about their financial performance and expected cash flows. The amendments are effec�ve for annual periods beginning on or a�er 1 January 2026. Early adop�on is allowed.
• Amendments to IFRS 19 - Subsidiaries without Public Accountability: Disclosures. The IASB published these amendments to IFRS 19 on 21 August 2025. The newly-issued amendments help eligible subsidiaries by reducing disclosure requirements for Standards and amendments issued between February 2021 and May 2024. Specifically:
• IFRS 18 Presenta�on and Disclosure in Financial Statements.
• Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7).
• Interna�onal Tax Reform—Pillar Two Model Rules (Amendments to IAS 12).
• Lack of Exchangeability (Amendments to IAS 21).
• Amendments to the Classifica�on and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7).

With these amendments, IFRS 19 reflects the changes to IFRS Accoun�ng Standards that take effect up to 1 January 2027, when IFRS 19 will be applicable.

• Amendments to IAS 21 - The Effects of Changes in Foreign Exchange Rates. The IASB published an amendment to IAS 21 on 13 November 2025 that clarifies how en��es should translate financial statements from a non-hyperinfla�onary currency into a hyperinfla�onary one. The objec�ve is to improve the usefulness and comparability of the resul�ng informa�on. The amendments are effec�ve for annual periods beginning on or a�er 1 January 2027. Early adop�on is allowed.

The Company is currently assessing the possible impacts of the new standards included in this sec�on.

2.2.2 Business sector informa�on

Based on the defini�on provided by standard IFRS 8 an opera�ng segment is a component of an en�ty:

• that undertakes a business ac�vity that generates costs and revenues;
• the opera�ng results of which are periodically reviewed at the highest decisional/opera�ng level of the en�ty in order to make decisions concerning the resources to allocate to the segment and the measurement of the results;
• for which separate accoun�ng informa�on is available.

The opera�ng sectors in the Group is ac�ve reflect the organiza�onal structure, were iden�fied from the reports used by top management for decision-making purposes, and do not derive from the aggrega�on of several opera�ng sectors. More specifically, they comprise the Water-Je�ng sector, which basically includes high and very-high pressure pumps, very high pressure systems, high pressure homogenizers, separators, mixers, agitators, piston pumps, valves, mechanical si�ers, automated milking systems and other machinery, primarily for the food industry, but also for the chemicals, cosme�cs and pharmaceu�cals sectors, as well as the Hydraulic sector, which includes power take-offs, gear pumps, hydraulic cylinders, direc�onal controls, valves, gears and dispersion devices used to spread solid biological fer�lizers, hoses and fi�ngs, right-angle drives, orbital motors, steering systems (hydroguides) and other hydraulic components. Interpump Group S.p.A. operates en�rely in the Water-Je�ng sector, so it was not considered necessary to present the associated sector informa�on.

Informa�on is however provided about the geographical areas in which the Company operates, namely Italy, Europe (including non-EU European countries and excluding Italy) and the Rest of the World.

2.2.3 Treatment of foreign currency transac�ons

The func�onal and presenta�on currency adopted by Interpump Group S.p.A. is the euro. Foreign currency transac�ons are translated to euro using the exchange rates in force on the date of the transac�on. Monetary assets and liabili�es are translated at the exchange rate in force on the repor�ng date. Foreign exchange differences arising from the transla�on are recognized in the income statement. Non-monetary assets and liabili�es measured at historical cost are translated at the exchange rates in force on the date of the related transac�ons. Monetary assets and liabili�es stated at fair value are translated to euro at the exchange rate in force on the date in respect of which the rela�ve fair value was determined.

2.2.4 Property, plant and equipment

i. Recognition and measurement

Property, plant and equipment are measured at the historical cost and stated net of accumulated deprecia�on (see next point iii) and impairment losses (see Note 2.2.7). The cost of goods produced internally includes the cost of raw materials, directly related labor costs, and a por�on of indirect produc�on costs. The cost of assets, whether purchased externally or produced internally, includes the ancillary costs that are directly atributable and necessary for use of the asset and, when they are significant and in the presence of contractual obliga�ons, the current value of the cost es�mated for the dismantling and removal of the related assets.

Financial expenses rela�ng to loans u�lized for the purchase of tangible fixed assets are recorded in the income statement on an accruals basis if they are not specifically allocated to the purchase or construc�on of the asset, otherwise they are capitalized.

Assets held for sale are measured at the lower of the fair value net of ancillary charges to the sale and their book value at the �me of classifica�on of said cap�ons as held for sale.

ii. Subsequent costs

The replacement costs of certain parts of assets are capitalized when it is expected that said costs will result in future economic benefits and they can be measured in a reliable manner. All other costs, including maintenance and repair costs, are recognized in the income statement when they are incurred.

iii. Depreciation

Deprecia�on is charged to the income statement on a straight-line basis over the es�mated residual useful lives of the related capitalized assets. Land is not depreciated. The es�mated useful lives of assets are as follows:

Property	25 years
Plant and machinery	12.5 years
Industrial and commercial equipment	4 years
Other assets	4-8 years

The es�mated useful lives of assets are reviewed on an annual basis, and any changes in the rates of deprecia�on are applied, where necessary, on a prospec�ve basis.

For assets purchased and/or that became opera�onal in the year, deprecia�on is calculated u�lizing annual rates reduced by 50%. Historically, this method of calcula�on has been representa�ve of the effec�ve use of the assets in ques�on.

Any profits/losses emerging on the derecogni�on of assets, on disposal (from the date on which the purchaser obtains control over them) or when no further economic benefits are expected from their use or disposal (being the difference between their carrying amount and the net considera�on obtained), are recognized in the income statement at that �me.

iv. Leases

Right-of-use assets are measured at cost and stated net of accumulated deprecia�on and impairment. They are also adjusted following remeasurement of the related lease liabili�es. The cost of right-of-use assets comprises the amount of the lease liabili�es recognized, the ini�al direct costs incurred and the lease payments made at or before the start date, net of any and all incen�ves received. Right-of-use assets are depreciated on a straight-line basis from the start date un�l the end of the useful life of the asset, being the end of the usage right (dura�on of the lease contract). The corresponding liability to the lessor is classified among the financial debts.

v. Leasehold improvements

Any leasehold improvements with the same characteris�cs as fixed assets are capitalized in the asset category to which they relate and depreciated over their useful lives or, if shorter, over the residual life of the lease.

2.2.5 Goodwill

Goodwill is represented by the merger deficit por�ons paid for this reason and arising from the merger opera�ons.

Goodwill is recorded at cost, net of impairment losses. Goodwill is allocated to a single cash genera�ng unit and is no longer amor�zed as from 1 January 2004. The book value is measured in order to assess the absence of impairment (see Note 2.2.7).

2.2.6 Other intangible fixed assets

i. Research and development costs

Research costs for the acquisi�on of new technical know-how are charged to the income statement as incurred.

Development costs rela�ng to the crea�on of new products/accessories or new produc�on processes are capitalized if the Company can prove:

• the technical feasibility and inten�on of comple�ng the intangible asset in such a way that it is available for use or for sale;
• its ability to use or sell the asset;
• the forecast volumes and realiza�on values indicate that the costs incurred for development ac�vi�es will generate future economic benefits;
• those costs are measurable in a reliable manner;
• the resources exist to complete the development project.

The capitalized costs relate to development projects that meet the requirements for deferral. Capitalized development costs are valued at cost, net of accumulated amor�za�on, (see next point v) and impairment (see Note 2.2.7).

ii. Loan ancillary costs

Loan ancillary costs are deducted from the nominal amount of the loan and treated as outlined in Note 2.2.13.

iii. Other intangible fixed assets

Other intangible assets, all having a defined useful life, are measured at cost and recorded net of accumulated amor�za�on (see next point v) and impairment (see Note 2.2.7).

So�ware licenses are amor�zed over their period of u�liza�on (5 years).

The costs incurred internally for the crea�on of trademarks or goodwill are recognized in the income statement when they are incurred.

iv. Subsequent costs

Costs incurred subsequently rela�ve to intangible fixed assets are capitalized only if they increase the future economic benefits of the specific capitalized asset, otherwise they are entered in the income statement when they are sustained.

v. Amortization

Amor�za�on is charged to the income statement on a straight-line basis over the es�mated useful lives of the related capitalized assets. The es�mated useful lives of assets are as follows:

Patents and trademarks	5-18 years
Development costs	5 years
Granting of software licenses	5 years

The es�mated useful life is reviewed on an annual basis and any changes in the rates are made, where necessary, for future amounts.

2.2.7 Impairment of assets

The book values of assets, with the excep�on of inventories (see Note 2.2.11), financial assets regulated by IFRS 9, deferred tax assets (see Note 2.2.15), and non-current assets held for sale regulated by IFRS 5, are subject to measurement at the repor�ng date in order to iden�fy the existence of possible indicators of impairment. If the valua�on process iden�fies the presence of such indicators, the presumed recoverable value of the asset is calculated using the methods indicated in the following point (i).

The presumed recovery value of goodwill and intangible assets that have not yet been used is es�mated at intervals of no longer than once a year or more frequently if specific events occur that point to the possible existence of impairment. If the es�mated recoverable value of the asset or its cash genera�ng unit is lower than its net book value, the asset to which it refers is consequently adjusted for impairment loss with entry into the income statement.

Goodwill is systema�cally measured (impairment test) at least once a year or more as prescribed by IAS 36.

i. Calculation of estimated recoverable value

The es�mated recoverable value of other assets is equal to their fair value less selling costs or, if greater, their value in use. The value in use is equivalent to the projected future cash flows, discounted to present value at a rate, including tax, that takes account of the market value, of interest rates and specific risks of the asset to which the presumed realiza�on value refers. For assets that do not give rise to independent cash flows the presumed realiza�on value is determined with reference to the cash genera�ng unit to which the asset belongs.

ii. Reinstatement of impairment losses

An impairment rela�ng to other assets is reinstated if a change has occurred in their es�mated recoverable value.

Impairment is reinstated to the extent of the corresponding book value that would have been determined, net of deprecia�on/amor�za�on, had no impairment loss ever been recognized. Impairment related to goodwill is never reinstated.

2.2.8 Equity investments

Investments in subsidiaries and associates are measured at cost. Should any impairment of value arise at the repor�ng date in comparison to the value determined according to the above method, the investment in ques�on will be writen down.

2.2.9 Cash and cash equivalents

Cash and cash equivalents include cash on hand, bank and post office deposits, and securi�es having original maturity date of less than three months. Current account overdra�s and advances with recourse are deducted from cash only for the purposes of the cash-flow statement.

2.2.10 Financial assets (Trade receivables, Other financial assets and Other assets)

On ini�al recogni�on, the classifica�on of financial assets depends on how they will be measured subsequently: at amor�zed cost, at fair value through other components of comprehensive income or at fair value through profit or loss. Again at the �me of ini�al recogni�on, financial assets are classified with reference to the characteris�cs of the related contractual cash flows and the business model used by the Company for their management. With the exclusion of trade receivables that do not contain a significant financing component, the Company ini�ally measures financial assets at their fair value, including transac�on costs in the case of those not measured at fair value through profit and loss. Trade receivables that do not have a significant financial component are measured at their transac�on price, as defined in accordance with IFRS 15.

Financial assets are measured at amor�zed cost if they are held in order to collect contractual cash flows (Held to Collect), represented solely by the payment of principal and interest on the amount of principal s�ll be repaid. All receivables are included in this category. These assets are measured at amor�zed cost, in accordance with the effec�ve interest criterion, and stated net of impairment losses. Interest income, exchange gains and losses, and impairment losses are recognized in the profit (loss) for the year, as are derecogni�on gains and losses.

Financial assets are measured at fair value through other comprehensive income if they are held by the Company both to collect contractual cash flows, represented solely by the payment of principal and interest on the amount of principal to be repaid, and to sell them (Held to Collect and Sell).

If a financial asset is not measured in one of the two ways described above, it must be measured at fair value through profit or loss. Accordingly, this category includes the assets held for trading and the assets designated on ini�al recogni�on as financial assets at fair value through profit or loss, as well as the financial assets whose measurement at fair value is mandatory. The fair value of the financial assets held for trading is determined with reference to market prices on the relevant annual or interim repor�ng date, or using financial valua�on techniques and models.

In accordance with IFRS 9, commencing on 1 January 2018 the Company adopted a new impairment model for financial assets measured at amor�zed cost or at fair value through other components of comprehensive income, with the excep�on of equity securi�es and assets deriving from customer contracts. This new model is based on determining the expected credit loss (ECL), which replaced the incurred loss model previously envisaged in IAS 39.

The new standard envisages adop�on of the following methodologies: the General deteriora�on method and the Simplified approach. The standard does not define specific criteria for the segmenta�on of customers, leaving en��es free to select the sampling subsets in a manner that ensures consistency with historical experience.

Within the simplified model, an analy�cal approach has been applied in rela�on to trade receivables deemed by management to be individually significant, and for which more detailed informa�on is available about the significant increase in credit risk.

A financial asset (or, where applicable, part of a financial asset or part of a group of similar financial assets) is derecognized (i.e. removed from the statement of financial posi�on) when:

• the right to receive cash flows deriving from the asset has expired, or
• the Company has transferred the right to receive cash flows deriving from the asset to a third party, or has accepted a contractual obliga�on to pay them over in full and without delay and (a) has transferred substan�ally all the risks and benefits of ownership of the financial asset, or (b) has not transferred or retained substan�ally all the risks and benefits of ownership of the financial asset, but has transferred control over it.

The profit (loss) on a financial asset that is measured at amor�zed cost and is not included in a hedging rela�onship must be recognized in profit (loss) in the year in which it is derecognized or reclassified, or via the amor�za�on process or to recognize the gains or loss on impairment adjustments.

2.2.11 Inventories

Inventories are measured at the lower of purchase cost or their es�mated realizable value. Cost is determined on a weighted-average basis and includes all costs incurred to purchase the materials and transform them into their state and condi�on at the repor�ng date. The cost of semi-finished goods and finished products includes a por�on of indirect costs determined on the basis of normal produc�on capacity. Write down provisions are calculated for materials, semi-finished goods and finished products considered to be obsolete or slow moving, taking account of their expected future usefulness and their realizable value. Net realizable value is es�mated with reference to market price in the ordinary course of business, less any comple�on and selling costs to be incurred.

2.2.12 Share capital and Treasury shares

The price paid to purchase of treasury shares, inclusive of any directly-atributable ancillary charges, is deducted from share capital for the por�on concerning the nominal value of shares and from other shareholders' equity for the remainder. When treasury shares are sold or reissued, the price collected, net of any directly atributable ancillary charges and the associated tax effect, is recorded as share capital for the por�on concerning the nominal value of shares and as shareholders' equity for the surplus.

2.2.13 Financial liabili�es (Trade payables, Bank debts, Interest-bearing financial debts and Other liabili�es)

On ini�al recogni�on, financial liabili�es are measured at fair value through profit and loss and classified either as loans or as deriva�ves designated as hedging instruments. All financial liabili�es are ini�ally recognized at fair value, including directly-atributable transac�on costs in the case of loans and payables. Following ini�al recogni�on, loans are measured at amor�zed cost using the effec�ve interest method. The effec�ve interest rate is the rate that exactly discounts the es�mated collec�ons over the expected life of the financial instrument or the future payments to the gross carrying amount of the financial asset or the amor�zed cost of the financial liability. Profits and losses are recognized in the income statement when liabili�es are setled, as well as via the amor�za�on process. Amor�za�on using the effec�ve interest rate is classified among the financial expenses in the income statement.

A financial liability is derecognized when the underlying obliga�on expires or when the obliga�on specified in the contract is setled, canceled or expires.

Trade payables and other debts, the rela�ve due date of which is within normal commercial terms, are not discounted to present value and are entered at the amor�zed cost representa�ve of their discharge value.

Current financial liabili�es include the short-term por�ons of the interest-bearing financial debts, bank and lease payables and other financial liabili�es.

2.2.14 Liabili�es for employee benefits

i. Defined contribution plans

The Company par�cipates in defined pension plans with public administra�on or private plans on a compulsory, contractual or voluntary basis. The payment of contribu�ons fulfills the Company's obliga�ons towards its employees. The contribu�ons therefore cons�tute costs of the period in which they are due.

ii. Defined benefit plans

Defined benefit plans for employees - disbursed at the �me of termina�on of the period of employment with the Company or therea�er - that include severance indemnity, are calculated separately for each plan, es�ma�ng the amount of the future benefit that the employees have accrued during the year and in previous years by means of actuarial techniques. The resul�ng benefit is discounted to present value and recorded net of the fair value of any related assets. The discount rate at the repor�ng date is calculated as required by IAS 19 with reference to the market yields of high quality corporate bonds. Only the securi�es of corporate issuers with an "AA" ra�ng are considered, on the assump�on that this class iden�fies a high ra�ng level in the context of "Investment Grade" securi�es, with the exclusion, therefore, of higher risk securi�es. Given that IAS 19 does not make explicit reference to a specific business category, the Group has opted for a "Composite" market yield curve that, accordingly, summarizes market condi�ons on the measurement date for the securi�es issued by companies ac�ve in various sectors, including u�li�es, telephony, finance, banking and industrials.

The defined benefit obliga�on is calculated on an annual basis by an independent actuary using the projected unit credit method. If the plan benefits increase, the prior-service por�on of the increase is charged to the income statement on a straight-line basis over the period in which the related rights will be acquired. If the rights are acquired immediately, the increase is recognized immediately in the income statement.

Actuarial profits and losses are recognized in a specific equity reserve on an accrual basis.

Un�l 31 December 2006 the severance indemnity provision (TFR) of Italian companies was considered to be a defined benefits plan. The rules governing the provision were amended by Law no. 296 of 27 December 2006 ("2007 Finance Act") and by subsequent Decrees and Regula�ons enacted in the ini�al months of 2007. In the light of these changes, and in par�cular with reference to companies with at least 50 employees, as is the case of Interpump Group S.p.A., the TFR severance indemnity provision should now be classified as a defined benefits plan exclusively for the por�ons accrued prior to 1 January 2007 (and not yet paid out at the date of the financial statements), while a�er that date TFR should be considered as a defined contribu�ons plan.

iii. Stock options

On the basis of the stock op�on plans currently in existence, certain employees and directors are en�tled to purchase treasury shares from Interpump Group S.p.A. The op�ons are measured at fair value, this being booked to the income statement as an addi�on to the cost of personnel and directors, with a matching entry in the share premium reserve. The fair value is measured at the grant date of the op�on and recorded in the income statement in the period that runs between said date and the date on which the op�ons become exercisable (ves�ng period). The fair value of the op�on is determined using the applicable op�ons measurement method (specifically, the trinomial la�ce model), taking account the terms and condi�ons at which the op�ons were granted.

The remunera�on component deriving from stock op�on plans with Interpump Group S.p.A. shares as the underlying, in accordance with the maters envisaged by interpreta�on IFRIC 11, is recognized as a capital grant disbursed to subsidiaries wherein the beneficiaries of the stock op�on plans are employees and consequently recorded as an increase of the rela�ve value of the shareholdings, with a matching entry recorded directly in equity.

2.2.15 Income taxes

Income taxes disclosed in the income statement include current and deferred taxes. Income taxes are generally disclosed in the income statement, except when they refer to types of items that are recorded directly under shareholders' equity. In this case, the income taxes are also recognized directly in equity.

Current taxes are taxes that are expected to be due, calculated by applying to the taxable income the tax rate in force at the repor�ng date and the adjustments to taxes of prior years.

Deferred taxes are calculated using the liability method on the temporary differences between the amount of assets and liabili�es in the financial statements and the corresponding values recognized for tax purposes. Deferred tax liabili�es are recognized in rela�on to all taxable temporary differences, except for:

• the deferred tax liabili�es deriving from the ini�al recogni�on of goodwill or an asset or liability in a transac�on that does not represent a business combina�on and, at the �me of the transac�on, does not affect the reported results or taxable income;
• reversals of taxable temporary differences, associated with investments in subsidiaries, associates and joint ventures, that can be controlled and that are unlikely to occur in the foreseeable future.

Deferred tax assets are recognized in rela�on to all deduc�ble temporary differences, tax credits and unused tax losses carried forward, to the extent that future taxable income is likely to be sufficient to allow the recovery of the deduc�ble temporary differences, tax credits and tax losses carried forward, except for:

• the deferred tax assets linked to deduc�ble temporary differences that derive from the ini�al recogni�on of an asset or liability in a transac�on that does not represent a business combina�on and, at the �me of the transac�on, does not affect the reported results or taxable income;
• the deferred tax assets linked to deduc�ble temporary differences associated with investments in subsidiaries, associates and joint ventures, which are only recognized if they are likely to reverse in the foreseeable future and there will be sufficient taxable income for the recovery of such temporary differences. Deferred taxes are calculated in accordance with the envisaged method of transfer of �ming differences, using the tax rate in force at the reference date of years in which the �ming differences arose.

Deferred taxes are calculated in accordance with the envisaged method of transfer of �ming differences, using the tax rate in force at the reference date of years in which the �ming differences arose.

Deferred tax assets are recognized exclusively in the event that it is probable that in future years sufficient taxable incomes will be generated for the realiza�on of said deferred taxes. The carrying amount of deferred tax assets is reviewed at each repor�ng date and reduced to the extent that future taxable income is no longer likely to be sufficient to allow the recovery of such assets, in whole or in part. Any unrecognized deferred tax assets are reviewed at each repor�ng date and recognized to the extent that it has become probable that future taxable income will be sufficient to allow their recovery.

2.2.16 Provisions for risks and charges

In cases wherein the Company has a legal or substan�al obliga�on resul�ng from a past event, and when it is probable that the loss of economic benefits must be sustained in order to fulfill such an obliga�on, a specific provision for risks and charges is created. If the temporal factor of the envisaged loss of benefits is significant, the amount of the future cash ou�lows is discounted to present values at

a rate, gross of taxes, that takes account of the market interest rates and the specific risk of the liability referred to.

2.2.17 Revenues

i. Revenues from the sale of goods and services

Revenues deriving from contracts with customers are recognized on the basis of the following 5 steps: (i) iden�fica�on of the contract with the customer; (ii) iden�fica�on of the contractual performance obliga�ons to be transferred to the customer in exchange for the transac�on price; (iii) determina�on of the transac�on price; (iv) alloca�on of the transac�on price to the individual performance obliga�ons; (v) recogni�on of the revenue when the associated performance obliga�on is fulfilled. Revenues are recognized at the amount of the considera�on to which the Company considers it is en�tled on sa�sfac�on of the obliga�on, when the customer acquires control over the goods or services transferred. The Company has iden�fied a single revenue stream from the sale of products and spare parts represen�ng the obliga�ons sa�sfied at a given point in �me. Revenues from the sale of products are recognized when the significant risks and benefits associated with control over the goods are transferred to the purchaser. The change of control coincides with the transfer of ownership or possession of the goods to the purchaser and, therefore, generally occurs on shipment or on comple�on of the service.

ii. Dividends

Dividends are recognized in the income statement on the date they became payable, and are classified under ordinary earnings before interest and tax because they are considered to represent the ordinary holding ac�vi�es performed by the Company.

2.2.18 Costs

i. Lease installments

The principal por�on of lease installments is deducted from the financial payable, while the interest por�on is charged to the income statement.

ii. Financial income and expenses

Financial income and expenses are recorded on an accrual basis in accordance with the interest matured on the net value of the rela�ve financial assets and liabili�es, using the effec�ve interest rate. Financial income and expenses include foreign exchange gains and losses and the gains and losses on deriva�ve instruments booked to the income statement.

2.3 Notes to the principal cap�ons in the statement of financial posi�on

2.3.1 Cash and cash equivalents

€/000	31/12/2025	31/12/2024
Cash	11	11
Bank deposits	108,846	109,547
Total	108,857	109,558

Bank deposits include € 157 thousand held in US dollars (\$ 185 thousand).

The Company con�nued its strategy of maintaining immediately available liquidity throughout 2025.

2.3.2 Trade receivables

€/000	31/12/2025	31/12/2024
Trade receivables, gross	20,270	16,857
Bad debt provision	(855)	(852)
Trade receivables, net	19,415	16,005

Changes in the bad debt provision were as follows:

€/000	2025	2024
Opening balance	852	797
Provisions in the year	98	79
Releases in the year to cover losses	(95)	(24)
Closing balance	855	852

Provisions in the year are booked under other opera�ng costs.

Receivables denominated in US dollars total € 4,506 thousand (\$ 5,295 thousand). At 31 December 2025 no receivables were hedged against the risk of exchange rate fluctua�ons.

No trade receivables or payables are due beyond twelve months.

Further informa�on is provided in Note 2.6 - Information on risks.

2.3.3 Inventories

€/000	31/12/2025	31/12/2024
Raw materials and components	16,602	16,819
Semi-finished products	11,797	11,237
Finished products	2,030	1,834
Total inventories	30,429	29,890

Inventories are stated net of an allowance that has changed as indicated below:

€/000	2025	2024
Opening balance	3,108	2,920
Provisions in the year	210	568
Releases in the year to cover losses	(158)	(380)
Closing balance	3,160	3,108

2.3.4 Other current assets

This item comprises:

€/000	31/12/2025	31/12/2024
Price adjustments receivable	-	1,894
Other current assets	-	1,180
Other receivables	268	207
Accrued income and prepaid expenses	594	820
Total	862	4,101

2.3.5 Property, plant and equipment

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
At 1 January 2024
Cost	15,827	63,913	22,605	5,003	107,348
Accumulated depreciation	(6,458)	(39,051)	(20,402)	(4,018)	(69,929)
Allowance for impairment	-	(4)	(171)	-	(175)
Net carrying amount	9,369	24,858	2,032	985	37,244
Changes in 2024
Opening net carrying amount	9,369	24,858	2,032	985	37,244
Additions	131	3,229	283	102	3,745
Recognition of right-to-use assets (IFRS 16)	-	-	-	265	265
Disposals	-	(15)	(4)	(48)	(67)
Early close-out (IFRS 16)	-	-	-	(27)	(27)
Remeasurement (IFRS 16)	(2)	-	-	6	4
Reclassifications	6	-	-	(6)	-
Capitalized depreciation	(72)	(9)	(5)	(1)	(87)
Depreciation	(832)	(3,326)	(925)	(384)	(5,467)
Closing net carrying amount	8,600	24,737	1,381	892	35,610
At 31 December 2024
Cost	15,278	66,142	21,982	4,850	108,252
Accumulated depreciation	(6,678)	(41,401)	(20,430)	(3,958)	(72,467)
Allowance for impairment	-	(4)	(171)	-	(175)
Net carrying amount	8,600	24,737	1,381	892	35,610

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
Changes in 2025
Opening net carrying amount	8,600	24,737	1,381	892	35,610
Additions	567	3,565	680	594	5,406
Recognition of right-to-use assets (IFRS 16)	-	-	-	131	131
Disposals	-	(22)	-	-	(22)
Early close-out (IFRS 16)	-	-	-	(1)	(1)
Remeasurement (IFRS 16)	34	-	-	-	34
Reclassifications	83	-	-	(83)	-
Write-downs	-	-	(2)	-	(2)
Capitalized depreciation	(83)	(24)	(5)	(1)	(113)
Depreciation	(867)	(3,455)	(780)	(397)	(5,499)
Closing net carrying amount	8,334	24,801	1,274	1,135	35,544
At 31 December 2025
Cost	15,266	66,328	21,991	5,293	108,878
Accumulated depreciation	(6,932)	(41,523)	(20,546)	(4,158)	(73,159)
Allowance for impairment	-	(4)	(171)	-	(175)
Net carrying amount	8,334	24,801	1,274	1,135	35,544

The cost of assets under construc�on, included in the net carrying amounts disclosed in the previous table, is as follows:

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
At 1 January 2024	-	970	168	6	1,144
At 31 December 2024	62	2,414	143	26	2,645
At 31 December 2025	41	1,676	309	241	2,267

The net carrying amount of leased assets is analyzed below:

€/000	Land and buildings	Plant and machinery	Equipment	Other assets	Total
At 31 December 2024	1,357	-	-	407	1,764
At 31 December 2025	696	-	-	361	1,057

Deprecia�on of € 4,926 thousand was charged to the cost of sales (€ 4,906 thousand in 2024), € 37 thousand to distribu�on costs (€ 34 thousand in 2024) and € 536 thousand for general and administra�ve costs (€ 527 thousand in 2024).

At 31 December 2025 the Company has contractual commitments for the purchase of property, plant and equipment totaling € 3,253 thousand (€ 1,719 thousand at 31 December 2024).

At 31 December 2025 property, plant and equipment are not burdened by mortgages and/or specific guarantees.

Further informa�on is provided in Notes 2.7 - Notes to the cash flow statement and 2.8 - Commitments.

2.3.6 Goodwill

Goodwill is represented by the merger deficit por�ons paid for this reason and arising from the merger opera�ons. Goodwill at 31 December 2025 amounts to € 44,537 thousand (€ 44,537 thousand at 31 December 2024 as well). The value of goodwill is allocated to the sole CGU in which the Company is ac�ve.

The Company carried out an impairment test on 31 December 2025. When reviewing its impairment indicators, the Company considered inter alia its stock market capitaliza�on. In fact, the stock market capitaliza�on of Interpump Group S.p.A. was far higher than the net assets of the Company and the Group, inclusive of goodwill, throughout 2025. The recoverable value iden�fied from the impairment test was determined from the value-in-use calcula�on carried out using the Discounted Cash Flow (DCF) method, net of taxa�on. The projected cash flows used in the DCF calcula�on is determined on the basis of a 5-year business plan that takes account of the various reference scenarios and on the basis of growth forecasts in the various markets. A pruden�al perpetual growth rate of 1.5% was applied for periods a�er 2030. The projected cash flows determined in this manner were reduced by a discount factor in order to take account of the risk that future plans could become imprac�cable. The after tax weighted average cost of capital (WACC) was measured at 9.15%. The WACC was 8.85% at 31 December 2024. The sensi�vity analysis required in the joint Bank of Italy, Consob, ISVAP document dated 3 March 2010 was also carried out. Even reducing the projected cash flows of the CGU by 10% would not have led to any impairment, and nor would an 0.5% increase in the cost of capital used to actualize the projected cash flows.

	Product	Patents	Other
€/000	development	trademarks and	intangible	Total
	expenses	industrial rights	fixed assets
At 1 January 2024
Cost	23,960	149	3,235	27,344
Accumulated amortization	(19,578)	(146)	(2,986)	(22,710)
Allowance for impairment	(1,369)	-	-	(1,369)
Net carrying amount	3,013	3	249	3,265
Changes in 2024
Opening net carrying amount	3,013	3	249	3,265
Increases	507	-	273	780
Write-downs	(88)	-	-	(88)
Amortization	(374)	-	(131)	(505)
Closing net carrying amount	3,058	3	391	3,452
At 31 December 2024
Cost	24,379	149	3,508	28,036
Accumulated amortization	(19,952)	(146)	(3,117)	(23,215)
Allowance for impairment	(1,369)	-	-	(1,369)
Net carrying amount	3,058	3	391	3,452

2.3.7 Other intangible fixed assets

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

€/000	Product development expenses	Patents trademarks and industrial rights	Other intangible fixed assets	Total
Changes in 2025
Opening net carrying amount	3,058	3	391	3,452
Increases	569	-	183	752
Write-downs	(215)	-	-	(215)
Amortization	(591)	-	(161)	(752)
Closing net carrying amount	2,821	3	413	3,237
At 31 December 2025
Cost	24,733	149	3,691	28,573
Accumulated amortization	(20,543)	(146)	(3,278)	(23,967)
Allowance for impairment	(1,369)	-	-	(1,369)
Net carrying amount	2,821	3	413	3,237

Product development costs refer to the cost of developing new products, which is capitalized when the criteria set down in IAS 38 are sa�sfied. The Company writes down any capitalized project costs that are no longer deemed to be recoverable.

The other intangible assets mainly relate to the cost of purchasing licenses.

The cost of assets under construc�on, included in the net carrying amounts disclosed in the previous table, is as follows:

€/000	Product development expenses	Other intangible fixed assets	Total
At 1 January 2024	2,133	116	2,249
At 31 December 2024	2,208	105	2,313
At 31 December 2025	1,252	97	1,349

The Company has assessed the recoverability of assets in progress without iden�fying any evidence of impairment.

Amor�za�on of € 752 thousand (€ 505 thousand in 2024) was booked en�rely to general and administra�ve expenses.

2.3.8 Investments in subsidiaries

€/000	Balance at 31 December 2024	Increases due to grant of stock options	Increases / (Decreases)	Impair ment	Balance at 31 December 2025
Walvoil S.p.A.	118,172	-	-	-	118,172
Walvoil Fluid Power India Pvt. Ltd.	14	-	-	-	14
NLB Corporation Inc.	62,048	-	-	-	62,048
GP Companies Inc.	8,903	-	-	-	8,903
Interpump Hydraulics S.p.A.	104,258	-	-	-	104,258
Hammelmann GmbH	26,032	-	-	-	26,032
Inoxpa S.A.	93,127	-	-	-	93,127
Reggiana Riduttori S.r.l.	165,226	-	-	-	165,226
Transtecno S.r.l.	89,583	-	-	-	89,583
Inoxihp S.r.l.	8,704	-	-	-	8,704
Interpump Piping GS S.r.l.	310	-	-	-	310
SIT S.p.A.	934	-	-	-	934
Tubiflex S.p.A.	34,485	-		-	34,485
Pioli S.r.l.	3,008	-		-	3,008
Servizi Industriali S.r.l.	4,059	-	644	-	4,703
White Drive Motors and Steering Sp. z o.o.	184,698	-	-		184,698
White Drive Motors and Steering GmbH	28,935	-	-	-	28,935
White Drive Motors and Steering LLC	65,428	-	8,604	(7,800)	66,232
IPG Mouldtech India Pvt Ltd.	7,861	-	-	-	7,861
Waikato Milking Systems Ltd.	30,291	-	(1,889)	(268)	28,134
Hydra Dyne Technology Inc	4,507	-	-	-	4,507
I.mec S.r.l.	14,062	-	-	-	14,062
Alfa Valvole S.r.l.	45,167	-	-	-	45,167
Fair value of the stock options granted to the employees of subsidiaries	3,663	524	-	-	4,187
Total	1,103,475	524	7,359	(8,068)	1,103,290

During Q2 2025 the Company exercised the op�on to purchase 10% of Servizi Industriali S.r.l. from the minority quotaholders, raising the percentage ownership from 80% to 90%.

The increase in the investment in White Drive Motors and Steering LLC reflects the capital increase authorized during the year in order to capitalize the company, which is inves�ng heavily in addi�onal produc�on capacity. The impairment was due to aligning the value of the investment with its recoverable amount, as described more fully later.

The decrease in the carrying amount of Waikato Milking Systems Limited was due to par�al repayment of the capital employed.

Share-based payment agreements (stock op�on plans) that make equity instruments of the Parent company available to employees of its subsidiaries are recognized in accordance with IFRIC 11. The fair

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

value of the stock op�ons granted to and exercisable by employees of subsidiaries, € 524 thousand, has been added to the value of the investments, with an increase in the share premium reserve as the matching entry. All the equity investments held by Interpump Group S.p.A., with the excep�on of the investment in Sit S.p.A., are considered financial fixed assets from the date of acquisi�on and, therefore, not held-for-sale instruments (as defined in IFRS 9). The dividends credited to the income statement during the year totaled € 135,490 thousand (€ 108,297 thousand in 2024), as analyzed below (amounts shown in €/000):

Subsidiaries	2025	2024
Hammelmann GmbH	40,000	30,000
Walvoil S.p.A.	22,750	22,750
Reggiana Riduttori S.r.l.	20,000	20,000
Transtecno S.r.l.	13,500	8,000
Inoxpa S.A.	10,000	10,000
Interpump Hydraulics S.p.A.	8,000	-
NLB Corporation Inc.	5,153	3,730
Interpump Piping GS S.r.l.	5,000	4,000
GP Companies Inc.	4,313	6,545
Alfa Valvole S.r.l.	4,000	-
I.mec S.r.l.	1,610	1,540
Servizi Industriali S.r.l.	630	1,200
Inoxihp S.r.l.	527	527
Walvoil Fluid Power Pvt Ltd.	7	5
Total	135,490	108,297

The following breakdown shows the cost of investments in subsidiaries at 31 December 2025, compared with the related por�on of the adjusted shareholders' equity (as described beter below) pertaining to Interpump Group S.p.A.:

€/000	Share capital	Shareholders' equity	Profit (loss)	% held	Carrying amount	Adjusted shareholders' equity	% Adjusted shareholders' equity	Difference adjusted shareholders' equity
Walvoil S.p.A.	7,692	221,182	24,176	65%	118,172	274,123	178,180	60,008
Walvoil Fluid Power India Pvt. Ltd.	4,803	35,220	7,344	-	14	35,220	42	28
NLB Corporation Inc.	12	117,758	8,300	100%	62,048	150,696	150,696	88,648
GP Companies Inc.	1,854	24,928	5,818	100%	8,903	30,981	30,981	22,078
Interpump Hydraulics S.p.A.	2,632	421,184	49,786	100%	104,258	440,175	440,175	335,917
Hammelmann GmbH	25	175,701	48,786	100%	26,032	236,430	236,430	210,398
Inoxpa S.A.	23,000	71,729	13,729	100%	93,127	116,744	116,744	23,617
Reggiana Riduttori S.r.l.	6,000	104,733	19,532	100%	165,226	188,693	188,693	23,467
Transtecno S.r.l.	100	45,191	15,362	100%	89,583	102,650	102,650	13,067

€/000	Share capital	Shareholders' equity	Profit (loss)	% held	Carrying amount	Adjusted shareholders' equity	% Adjusted shareholders' equity	Difference adjusted shareholders' equity
Inoxihp S.r.l.	119	22,243	3,685	53%	8,704	44,689	23,560	14,856
Interpump Piping GS S.r.l.	10	6,022	5,082	100%	310	6,022	6,022	5,712
SIT S.p.A.	105	1,898	(31)	88%	934	1,898	1,670	736
Tubiflex S.p.A.	515	27,089	3,904	100%	34,485	47,176	47,176	12,691
Pioli S.r.l.	10	4,090	281	100%	3,008	5,826	5,826	2,818
Servizi Industriali S.r.l.	100	3,395	1,199	90%	4,703	6,663	5,997	1,294
White Drive Motors and Steering Sp. z o.o.	33,254	112,114	2,225	100%	184,698	273,471	273,471	88,773
White Drive Motors and Steering GmbH	25	29,256	260	100%	28,935	29,195	29,195	260
White Drive Motors and Steering LLC	86,070	45,349	(8,792)	100%	66,232	47,081	47,081	(19,151)
IPG Mouldtech India Pvt Ltd.	298	5,986	1,569	85%	7,861	11,920	10,132	2,271
Waikato Milking Systems Limited	27,591	23,210	(566)	100%	28,134	25,936	25,936	(2,198)
Hydra Dyne Technology Inc	80	17,874	737	15%	4,507	29,788	4,465	(42)
I.mec S.r.l.	100	10,293	2,402	70%	14,062	25,814	18,070	4,008
Alfa Valvole S.r.l.	1,560	18,752	5,663	100%	45,167	52,004	52,004	6,837

Para. 4 of IAS 36 establishes that financial assets classified as subsidiaries in accordance with IAS 27 must be stated at a value that does not exceed their recoverable amount. An asset is stated at more than its recoverable amount if its carrying amount exceeds the amount obtainable from its use or sale; in that case, IAS 36 requires recogni�on of the impairment iden�fied.

In order to iden�fy circumstances that might indicate the impairment of equity investments, management carries out the following procedures every year, or more frequently if necessary:

• comparison of the carrying amount of equity investments with the corresponding shareholders' equity, suitably adjusted at the repor�ng date by the addi�onal value iden�fied at the �me of acquisi�on and included in the Purchase Price Alloca�on (PPA), as reported in the consolidated financial statements of the Interpump Group;
• in the case of nega�ve differen�als, analysis of expected future performance, as reflected in the budgets used for impairment tes�ng purposes when preparing the consolidated financial statements;

• where poten�al impairment concerns remain, subjects each investment concerned to impairment tes�ng via the Discounted Cash Flow (DCF) method applied net of taxa�on using the "equity-side" approach, in which its recoverable amount - equal to the Enterprise Value (as determined at a consolidated level via the DCF method using the "asset-side" approach) less the net financial posi�on (usually referred to as the Equity Value) - must be compared with its carrying amount.

The above work did not iden�fy any las�ng impairment, except as described below.

Comparison at the repor�ng date of the carrying amount of each equity investment with its corresponding adjusted equity value, determined as described above, iden�fied nega�ve differences in rela�on to the investments in White Drive Motors and Steering LLC, Waikato Milking Systems Limited, and Hydra Dyne Technology Inc.

With regard to Waikato Milking Systems Limited and Hydra Dyne Technology Inc., the nega�ve difference is principally atributable to the temporary effect of transla�ng shareholders' equity not denominated in euro. Accordingly, there have not been any trigger events that would make it necessary to apply the analy�cal methodology described above, which takes account of the expected future performance reflected in the financial plans.

On the other hand, the expecta�ons for future performance reflected in the 2026-2030 business plan (used for the impairment tests carried out for consolida�on purposes) were analyzed for White Drive Motors and Steering LLC, and a specific impairment test was carried out using the methodologies adopted at consolidated level, considering parameters specific to the country concerned (WACC of 8.91% and growth rate in perpetuity of 2.20%). In par�cular, the Discounted Cash Flow (DCF) method was applied net of taxa�on using the "equity-side" approach, where the recoverable amount is deemed equal to the Enterprise Value (as determined at a consolidated level via the DCF method using the "asset-side" approach) less the net financial posi�on (usually referred to as the Equity Value). The value calculated in this way was lower than the carrying amount of the investment reported in the financial statements. As a consequence, the Company wrote down the value of the investment for consistency with its recoverable amount.

2.3.9 Other current and non-current financial assets

Other financial assets mostly comprise loans granted to subsidiaries.

The following table shows exis�ng financial rela�ons (amounts expressed in €/000):

€/000	Loans granted		Interest income
Subsidiaries	31/12/2025	31/12/2024	2025	2024
Interpump Hydraulics S.p.A.	23,000	8,000	424	339
IMM Hydraulics S.p.A.	8,000	15,000	407	927
Tubiflex S.p.A.	5,000	7,500	268	402
GS-Hydro UK Ltd	2,800	160	113	15
Hydra Dyne Technology Inc.	2,077	4,154	75	130
GS-Hydro Korea Ltd	2,100	2,100	63	63
White Drive Motors and Steering GmbH	-	4,000	13	230
Muncie Power Inc.	-	-	-	326
Interpump Piping GS S.r.l.	-	-	-	18
Tekno Tubi S.r.l.	-	-	-	7
Inoxihp S.r.l.	-	-	-	5
Total	42,977	40,914	1,363	2,462

The loans to companies within the Interpump Group outstanding at 31 December 2025 earn interest at 3-month Euribor upli�ed by a spread that fluctuated between 100 and 150 basis points, except for certain fixed-rate loans granted in a range between 1.95% and 3.50%.

In rela�on to the loans granted, € 37,377 thousand are current, while the remaining € 5,600 thousand are considered non-current.

2.3.10 Deferred tax assets and liabili�es

The changes during the year in deferred tax assets and liabili�es are analyzed below:

	Deferred tax assets		Deferred tax liabilities
€/000	2025	2024	2025	2024
Balance at 1 January	7,171	9,378	674	680
Recognized in the income statement	920	(2,194)	13	(6)
Recognized in equity reserves	(20)	(13)	-	-
Other changes	-	-	-	-
Balance as at 31 December	8,071	7,171	687	674

Deferred tax assets and liabili�es may be classified in the following cap�ons of the statement of financial posi�on:

	Deferred tax assets		Deferred tax liabilities
€/000	31/12/2025	31/12/2024	31/12/2025	31/12/2024
Property, plant and equipment	44	52	609	611
Intangible fixed assets	3,518	3,518	-	-
Inventories	906	890	-	-
Receivables	58	58	-	-
Dividends receivable	-	-	15	15
Equity investments	441	441	10	10
Liabilities for employee benefits	(504)	(529)	53	38
Cost of stock option plans	909	-	-	-
Provision for risks	1,716	1,968	-	-
Shareholders' equity:
- liabilities for employee benefits	635	655	-	-
Other	348	118	-	-
Total	8,071	7,171	687	674

Deferred taxes recognized directly in equity are related to remeasurement of liabili�es for employee benefits (TFR) connected to the actuarial component. The "Cost of stock op�on plans" was recorded consequent to recent tax legisla�on, as updated in the 2025 Budget Law, which only allows their deduc�bility when the op�ons are exercised.

No deferred tax liabili�es were recorded on provisions qualifying for tax relief due to the fact that distribu�on is not an�cipated (see Note 2.3.17).

2.3.11 Interest-bearing financial debts and bank debts

The principal interest-bearing financial debts are all subject to compliance with the following covenants, calculated on the consolidated values:

• Net indebtedness / Shareholders' equity;
• Net indebtedness / EBITDA;
• EBITDA / Financial expenses.

At 31 December 2025 all financial covenants are amply respected.

Interest-bearing financial debts at 31 December 2025 include the bond issued in January 2024 that amounts to € 99,517 thousand.

Interest-bearing financial debts at 31 December 2025 also include lease payables under IFRS 16 of € 1,121 thousand (€ 1,872 thousand in 2024), as analyzed below:

	31 December 2025				31 December 2024
€/000	Within 1 year	Between 1 and 5 years	Beyond 5 years	Total	Within 1 year	Between 1 and 5 years	Beyond 5 years	Total
Payment of lease installments	937	219	-	1,156	954	1,070	-	2,024
Interest	(27)	(8)	-	(35)	(95)	(57)	-	(152)
Present value of lease payables	910	211	-	1,121	859	1,013	-	1,872

Non-current, interest-bearing financial debts fall due as follows:

€/000	31/12/2025	31/12/2024
Between 1 and 2 years	125,451	170,184
Between 2 and 5 years	150,304	175,458
Beyond 5 years	79,517	84,424
Total	355,272	430,066

The following average interest rates were charged on the interest-bearing financial debts:

%	31/12/2025	31/12/2024
Bank debts	3.22	4.62
Bonds	4.17	4.17
Finance leases	3.48	4.47

At 31 December 2025, all bank debts bear interest at floa�ng rates, while the bond bears interest at a fixed rate.

No outstanding loans are backed by guarantees at 31 December 2025 or were backed by guarantees during the year.

The Company has the following lines of credit which were unused at year-end:

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

€/000	31/12/2025	31/12/2024
Current account overdrafts and export advances	17,100	17,100
Bonds	162,349	183,617
Medium/long-term loans	80,000	-
Total	259,449	200,717

Further informa�on about liquidity and interest-rate risks is provided in Note 2.6 - Information on risks.

Net indebtedness, including payables and commitments, determined in accordance with ESMA guidance 32-382-1138 and included in Consob no�ce no. 5/21, comprises:

€/000	31/12/2025	31/12/2024	01/01/2024
Cash and cash equivalents	108,857	109,558	88,280
Current financial debts (excluding the current portion of non-current financial debts)	(4,565)	(5,447)	(6,042)
Current portion of non-current financial debts	(194,058)	(208,589)	(232,543)
Current net indebtedness	(89,766)	(104,478)	(150,305)
Non-current financial debts	(355,272)	(430,066)	(399,847)
Net financial position	(445,038)	(534,544)	(550,152)
Commitments for the acquisition of investments	-	-	-
Total net indebtedness	(445,038)	(534,544)	(550,152)

Had current and non-current financial assets (comprising loans granted to Group companies totaling € 37,377 thousand and € 5,600 thousand respec�vely) also been considered, total net indebtedness would have been € 402,061 thousand at 31 December 2025 (€ 493,630 thousand at 31 December 2024).

2.3.12 Trade payables and Other current liabili�es

Trade payables total € 23,000 thousand (€ 17,594 thousand in 2024) and principally comprise amounts payable to suppliers for goods and services.

Other current liabili�es are analyzed below:

€/000	31/12/2025	31/12/2024
Payables to personnel	4,091	3,611
Payables to social security institutions	1,884	1,746
Customer advances	1,628	1,401
Customer credit balance	222	145
Customers for credit notes to issue	40	47
Payables for remuneration of directors/auditors	1,097	331
Other	96	238
Total	9,058	7,519

2.3.13 Provisions for risks and charges

€/000	Directors' termination indemnity provision	Agents' termination indemnity provision	Total
Balance at 1 January	8,193	40	8,233
Increase in the year	-	3	3
Surplus released to the income statement	(1,050)	-	(1,050)
Utilizations in the year	-	-	-
Balance as at 31 December	7,143	43	7,186

The principal item relates to the termina�on indemnity provision recorded in favor of the Execu�ve Chairman, founder of the Group, by decision of the Board of Directors on 16 March 2020.

2.3.14 Liabili�es for employee benefits

Liabilities for defined benefit plans

The changes in these liabili�es are analyzed below:

€/000	2025	2024
Liabilities at 1 January	3,373	3,775
Amount charged to the income statement in the year	89	130
Recognition in equity of actuarial results	(84)	(53)
Reclassifications	(14)	(56)
Payments	(107)	(423)
Liabilities at 31 December	3,257	3,373

The following items were recognized in the income statement:

€/000	2025	2024
Current service cost	-	-
Financial Income / Expenses	89	130
Past service cost	-	-
Total recognized in the income statement	89	130

See Note 2.2.2 - Profitability in the "Report on opera�ons" for an analysis of payroll costs.

The average number of employees broken down by category is as follows:

	2025	2024
Executives	16	17
Managers	17	14
White collar	124	120
Blue collar	284	294
Fixed-contract personnel	3	4
Total	444	449

The Company has 441 employees at 31 December 2025.

Liabili�es for defined benefit plans (Severance indemnity - TFR) are determined using the following actuarial assump�ons:

	Unit of measure	2025	2024
Discount rate	%	3.63	3.24
Percentage of employees expected to resign before retirement age (turnover)*	%	7.12	7.18
Annual cost-of-living increase	%	1.9	2.0
Average period of employment	Years	17.76	17.61

* = average annual turnover rate for all causes, in the first ten years following the valuation.

The following table summarizes the sensi�vity analysis carried out on the discount rate, showing the effects (absolute amount) of reasonable changes in the rate at 31 December 2025:

Sensitivity analysis	Sensitivity	TFR €/000
Change in discount rate	+ 0.5%	3,162
Change in discount rate	- 0.5%	3,355

The discount rate on the repor�ng date is calculated as required by IAS 19 with reference to the market yield of high quality corporate bonds. Only the securi�es of corporate issuers with an "AA" ra�ng are considered, on the assump�on that this class iden�fies a high ra�ng level in the context of "Investment Grade" securi�es, with the exclusion, therefore, of higher risk securi�es. Given that IAS 19 does not make explicit reference to a specific business category, the Group has opted for a "Composite" market yield curve that, accordingly, summarizes market condi�ons on the measurement date for the securi�es issued by companies ac�ve in various sectors, including u�li�es, telephony, finance, banking and industrials.

At 31 December 2025, analysis of the yield curve for "AA" securi�es, described above and used for actuarial valua�on purposes, reflects an overall environment characterized by moderate vola�lity in the bond markets and a differen�ated profile along the forward rate curve. In par�cular, during 2025, bond markets in the euro area underwent a complex process of adjustments to government and corporate yields, influenced by expecta�ons regarding the macroeconomic indicators and by the outlook for the monetary policies of the principal central banks.

The changes in the yields on government and corporate securi�es in the euro area were not uniform along the forward curve. The yields on European ten-year sovereigns were supported at posi�ve levels, with German Bunds and the government securi�es of core Euro-zone countries offering high returns, while the yields on investment grade corporate bonds remained atrac�ve given the rela�vely contained credit spreads.

During 2025, infla�on in the euro area converged steadily on the 2% target set by the European Central Bank, finishing the year at levels in line with, or marginally below, that target. This scenario contributed to greater cau�on when making monetary policy decisions, with the principal central banks - albeit not excluding restric�ve measures for certain segments of the market - holding their official rates stable, while wai�ng and monitoring the infla�on dynamics and economic growth trends.

This combina�on of stable official rates, credit spreads and investment-grade bond yields resulted in market condi�ons where the credit risk component and the dura�on con�nued to play an important role in the evolu�on of long-term yields. This macro-financial context is consistent with a period of

consolida�on in the bond markets, in which yields reflect both the posi�oning of expecta�ons about monetary policy and operator assessments of credit risk in the corporate segments.

2.3.15 Other non-current liabili�es

The deferred income classified among the non-current liabili�es, € 2,629 thousand at 31 December 2025 (€ 2,452 thousand at 31 December 2024), relates to tax credits for the purchase of Industry 4.0 and 5.0 tangible fixed assets (2020 Budget Law - art. 1 of Law 160/2019, as amended by the 2021 Budget Law - art. 1 of Law 178/2020, and extended by art. 1, subsec�on 44, of Budget Law 2022 - Law 234/2021), which are deferred as future income and released to the income statement on an accruals basis, to match the deprecia�on charged on the assisted assets.

2.3.16 Share capital

Share capital comprises 108,879,294 ordinary shares with a unit nominal value of € 0.52 totaling € 56,617,232.88. However, the share capital reported in the financial statements amounts to € 55,320 thousand, since the nominal value of purchased treasury shares, net of those sold, has been deducted from share capital in compliance with the reference accoun�ng standards. At 31 December 2025 Interpump S.p.A. holds 2,494,087 treasury shares in the por�olio, corresponding to 2.291% of share capital, acquired at an average unit cost of € 37.96064.

The changes in treasury shares over the past two years were as follows:

	Number
Balance at 1 January 2024	1,908,863
2024 purchases	250,000
Sale of shares on the exercise of stock options	(20,500)
Balance at 31 December 2024	2,138,363
2025 purchases	500,000
Sale of shares on the exercise of stock options	(144,276)
Balance at 31 December 2025	2,494,087

Taking treasury shares into considera�on, the following changes were recorded in the number of shares in circula�on:

	Number of shares
	2025	2024
Ordinary shares in existence at 1 January	108,879,294	108,879,294
Treasury shares held	(2,138,363)	(1,908,863)
Shares in circulation at 1 January	106,740,931	106,970,431
Treasury shares purchased	(500,000)	(250,000)
Treasury shares sold	144,276	20,500
Total shares in circulation at 31 December	106,385,207	106,740,931

The aims iden�fied by the Group in the management of capital are the crea�on of value for all shareholders and suppor�ng development of the group, both through internal means and by means of targeted acquisi�ons. The Group therefore intends to maintain an adequate level of capitaliza�on that, at the same �me, makes it possible to generate a sa�sfactory economic return for shareholders and to

guarantee economically effec�ve access to external sources of borrowing. The Group constantly monitors the evolu�on of the debt-to-equity ra�o and the genera�on of cash through its industrial opera�ons. In order to atain the aforemen�oned goals, the Group constantly monitors the cash flows generated by the business sectors in which it operates, both through improvement or maintenance of profitability, and careful management of working capital and of other expenditure. Capital is construed as both the value contributed by Interpump Group shareholders (share capital and share premium reserve, totaling € 92,633 thousand at 31 December 2025 and € 97,894 thousand at 31 December 2024), and the value generated by Group opera�ons (other reserves and legal reserve, including profit for the year, totaling € 712,952 thousand at 31 December 2025 and € 623,200 thousand at 31 December 2024, excluding the transla�on reserve and the remeasurement reserve for defined benefit plans).

Treasury shares purchased

The amount of the treasury shares held by Interpump Group S.p.A. is recorded in an equity reserve. The Company acquired 500,000 treasury shares in 2025 for € 16,594 thousand, at an average price of € 33.1881 (250,000 treasury shares were purchased in 2024 for € 10,337 thousand).

Treasury shares sold

In the execu�on of stock op�on plans, a total of 144,276 op�ons were exercised during 2025, resul�ng in the collec�on of € 4,754 thousand (20,500 op�ons were exercised for € 581 thousand in 2024). No treasury shares were divested during 2025 or 2024 in payment for equity investments.

Stock options

The fair values of the 2022/2024 stock op�on plan and, in 2025, that of the 2025/2027 stock op�on plan have been recognized in the 2024 and 2025 financial statements in compliance with IFRS 2. Costs of € 6,240 thousand (€ 4,970 thousand in 2024) rela�ng to this stock op�on plan were therefore recognized in the 2025 income statement, with a matching entry to the share premium reserve. Said costs represent the por�on for the year of the value of the op�ons granted to employees and directors, established at the alloca�on date, corresponding to the value of the services rendered by the later in addi�on to normal remunera�on.

The income statement effects were booked as follows:

€/000	2025	2024
Cost of sales	11	-
Distribution expenses	32	25
General and administrative expenses	6,197	4,945
Total	6,240	4,970

Changes in the share premium reserve were as follows:

€/000	2025	2024
Share premium reserve at 1 January	42,389	46,883
Increase in the year due to recognizing in the income statement the fair value of stock options granted	6,240	4,970
Increase in the year due to recognizing in equity the fair value of stock options granted to the employees of subsidiaries	524	292
Increases on assignment of treasury shares as payment for subsidiaries acquired	-	-
Increases on assignment of treasury shares following the exercise of stock options	4,754	581
Utilization to cover purchase of treasury shares	(16,594)	(10,337)
Share premium reserve at 31 December	37,313	42,389

The Shareholders' Mee�ng held on 30 April 2019 approved a stock op�on plan, known as the "Interpump Incentive Plan 2019-2021", which envisages gran�ng a maximum of 2,500,000 op�ons at an exercise price of Euro 28.4952 each and, for op�ons granted a�er 30 April 2020, at the official price quoted on the Italian Stock Exchange on the day prior to the grant date. At the mee�ng held on 27 June 2019, the Board of Directors granted 1,800,000 op�ons to Execu�ve Chairman Fulvio Mon�pò, while 418,500 op�ons were granted to other beneficiaries during 2019. A further 20,000 op�ons were granted to other beneficiaries on 3 June 2020. Overall, therefore, a total of 2,238,500 op�ons were granted. The op�ons were exercisable from 30 June 2022 to 31 December 2025 and, accordingly, this plan is now closed.

On 18 March 2024, the Board of Directors deemed it appropriate to iden�fy the persons in certain key roles within the Company and the Group as "Key Management Personnel", recalling that, pursuant to the Consob Regula�on on Related-Party Transac�ons, adopted by Resolu�on no. 17221 dated 12 March 2010, such persons are those who "have the power and responsibility, directly or indirectly, to plan, manage, and control the activities of the company".

The op�ons granted to the execu�ves concerned were ini�ally classified among the "other beneficiaries".

The changes in op�ons in 2025 and 2024 were as follows:

	Number of options
	2025	2024
Options granted at 1 January	80,776	101,276
Options granted in the year	-	-
Options exercised in the year	(80,776)	(20,500)
Options canceled in the year	-	-
Total options granted at 31 December	-	80,776

The Shareholders' Mee�ng held on 29 April 2022 approved a new stock op�on plan, known as the "Interpump Incentive Plan 2022-2024", which envisages gran�ng a maximum of 2,250,000 op�ons at an exercise price of Euro 38.6496 each and, for op�ons granted a�er 29 April 2023, at the official price quoted on the Italian Stock Exchange on the day prior to the grant date. The mee�ng of the Board of Directors held on the same date granted 1,620,000 op�ons to Fulvio Mon�pò, the Execu�ve Chairman.

On, respec�vely, 23 May 2022, 20 October 2022 and 28 April 2023, a further 288,000 (of which 45,000 to Chief Execu�ve Officer Fabio Marasi), 6,000 and 35,000 op�ons (including 15,000 to Chief Execu�ve Officer Fabio Marasi) were granted to other beneficiaries (including those granted to the Key Management Personnel iden�fied at the above-men�oned Board mee�ng held on 18 March 2024). Overall, a total of 1,949,000 op�ons have therefore been granted. The op�ons can be exercised between 30 June 2025 and 31 December 2028. A total of 2,000 op�ons were canceled in 2025 (21,200 op�ons canceled in 2024).

The changes in op�ons in 2025 and 2024 were as follows:

	Number of options
	2025	2024
Options granted at 1 January	1,918,800	1,940,000
Options granted in the year	-	-
Options exercised in the year	(63,500)	-
Options canceled in the year	(2,000)	(21,200)
Total options granted at 31 December	1,853,300	1,918,800

The Shareholders' Mee�ng held on 29 April 2025 approved a new stock op�on plan, the "Interpump Incentive Plan 2025/2027", that envisages the grant of up to 2,450,000 op�ons, at an exercise price of € 30.4397. These may be exercised on one or more occasions between 30 June 2028 and 31 December 2031, for amounts each �me of not less than 0.25% of the op�ons granted to each beneficiary. The mee�ng of the Board of Directors held on 15 May 2025 granted 1,530,000 op�ons, of which 1,140,000 to Fulvio Mon�pò, the Execu�ve Chairman, 160,000 to Chief Execu�ve Officer Fabio Marasi, and 230,000 to the Key Management Personnel iden�fied at the Board mee�ng held on 18 March 2024 (see above). A further 204,000 op�ons were granted to other beneficiaries on 26 May 2025. Overall, a total of 1,734,000 op�ons have therefore been granted.

The fair value of the stock op�ons and the actuarial assump�ons u�lized are as follows:

2019-2021 Plan

First grant	Unit of measure
Number of options granted	no.	2,218,500
Grant date		28 June 2019
Exercise price		28.4952
Vesting date		1 July 2022
Fair value per option at the grant date	€	4.562
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	30
Expected average duration of the plan	years	4.76
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Euro swap rates at 28 July 2019)	%	-0.0182

emarket sdir storage
CERTIFIED

Second grant	Unit of measure
Number of options granted	no.	20,000
Grant date		3 June 2020
Exercise price		27.9868
Vesting date		1 July 2022
Fair value per option at the grant date	€	5.226
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	30
Expected average duration of the plan	years	3.83
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Euro swap rates at 3 July 2020)	%	0.1557

2022-2024 Plan

First grant	Unit of measure
Number of options granted	no.	1,620,000
Grant date		29 April 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.4601
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	31
Expected average duration of the plan	years	4.93
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 29 July 2022)	%	1.5540

Second grant	Unit of measure
Number of options granted	no.	288,000
Grant date		23 May 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.8040
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	31
Expected average duration of the plan	years	4.86
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 23 May 2022)	%	1.6911

C. PARENT COMPANY'S DRAFT FINANCIAL STATEMENTS

Third grant	Unit of measure
Number of options granted	no.	6,000
Grant date		20 October 2022
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	8.7606
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	34
Expected average duration of the plan	years	4.45
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 20 October 2022)	%	3.5668

Fourth grant	Unit of measure
Number of options granted	no.	35,000
Grant date		28 April 2023
Exercise price		38.6496
Vesting date		30 June 2025
Fair value per option at the grant date	€	16.011
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	34
Expected average duration of the plan	years	3.93
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 28 April 2023)	%	3.5748

2025-2027 Plan

First grant	Unit of measure
Number of options granted	no.	1,530,000
Grant date		15 May 2025
Exercise price		30.4397
Vesting date		30 June 2028
Fair value per option at the grant date	€	12.0381
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	32
Expected average duration of the plan	years	4.88
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 15 May 2025)	%	2.8263

Second grant	Unit of measure
Number of options granted	no.	204,000
Grant date		26 May 2025
Exercise price		30.4397
Vesting date		30 June 2028
Fair value per option at the grant date	€	11.0226
Expected volatility (weighted average of volatility values used to build the trinomial lattice model)	%	32
Expected average duration of the plan	years	4.85
Expected dividends (compared with share value)	%	1.00
Risk-free interest rate (calculated by linear interpolation of Eur Composite AA rates at 26 May 2025)	%	2.7572

The expected vola�lity of the underlying variable (Interpump Group share) is a measure of the prospect of price fluctua�ons in a specific period. The indicator that measures vola�lity in the model u�lized to evaluate the op�ons is the mean square annualized devia�on of compound returns of the Interpump Group share through �me.

2.3.17 Reserves

Reserve from remeasurement of defined benefit plans

Includes the actuarial component of defined benefit plans (TFR).

Classification of net equity depending on possibility of utilization

					Summary of utilizations over the past three years
€/000	Amount	Possibility of utilization	Available portion	Tax payable in the event of distribution	to cover losses	for other reasons
Share capital
Subscribed and fully paid-up share capital	56,617	B	-	-	-	-
Nominal value of treasury stock in the portfolio	(1,297)	-	-	-	-	-
Total share capital	55,320
Capital reserves
Legal reserve	6,860	B	-	-	-	-
Share premium reserve	44	A, B, C	44	-	-	-
Total capital reserves	6,904		44
Profit reserves
Legal reserve	4,463	B	-	-	-	-
Share premium reserve	37,269	A, B, C	33,081	1,232	-	1,820
Extraordinary reserve	574,841	A, B, C	572,745	7,164	-	101,452
Reserve for share capital reduction	1,297	-	-	-	-	-
First Time Adoption Reserve	(86)	-	-	-	-	-
Merger surplus	863	A, B, C	698	-	-	-
Remeasurement reserve for defined benefit plans	(2,010)	-	-	-	-	-
Profit for the year	124,714	A, B, C	124,714	-	-	-
Total profit reserves	741,351		731,238
Reserve for treasury shares held	94,677	-	-	-	-	26,931
Treasury shares	(94,677)	-	-	-	-	-
Non-distributable portion*			(3,237)
Remaining distributable portion			728,045
A: for capital increase		B: for coverage of losses			C: for distribution to shareholders

*= represents the non-distributable portion destined to cover deferred costs that have not yet been amortized.

The share premium reserve includes € 12,987 thousand subject to the deferral of taxa�on since, for tax purposes, it was formed from the revalua�on reserves pursuant to Law 342/2000 and Law 266/2005.

The extraordinary reserve includes € 33,089 thousand subject to the deferral of taxa�on following the recogni�on for tax purposes of the net carrying amount of the goodwill recorded in the financial statements at 31 December 2019 pursuant to art. 110, subsec�on 8-(2), of Decree 104/2020, as amended by art. 1, subsec�on 83, of Law 178 dated 30 December 2020.

U�liza�ons principally refer to the payment of dividends, purchases of treasury shares and reduc�ons of reserves for other causes, excluding transfers between reserves. In par�cular, the changes in the past three years reflect the purchases of treasury shares and use of the share premium reserve on the sale of treasury shares for less than their carrying amount, following the exercise of stock op�ons.

On the basis of tax legisla�on the reserves and profits are freely distributable and do not atract tax even in the case of distribu�on, on the condi�on that the reserves and residual profits exceed the nega�ve components of income ascribed exclusively to the tax return; otherwise, distributed reserves and profits are subject to tax in the measure in which the residual reserves and profits are lower than the nega�ve components of income that have been ascribed exclusively to the tax return. This condi�on is sa�sfied at 31 December 2025, hence no taxes would be payable in the event of distribu�on of the Company's en�re profit for the year and all available reserves, beyond those already indicated in the prior statement.

	2025			2024
€/000	Pre-tax amount	Taxation	Amount net of taxes	Pre-tax amount	Taxation	Amount net of taxes
Remeasurement of defined benefit plans	84	(20)	64	53	(12)	41
Total	84	(20)	64	53	(12)	41

Breakdown of components recorded directly in equity

2.3.18 Informa�on on financial assets and liabili�es

Financial assets and liabili�es, broken down by the categories iden�fied by IFRS 7, are summarized in the following tables:

	Financial assets at 31 December 2025				Financial liabilities at 31 December 2025
€/000		At fair value through profit and loss	Measured at amortized cost	At fair value through other comprehensive income	Measured at amortized cost	Total
	Initially	Subsequently
Trade receivables	-	-	19,415	-	-	19,415
Dividends receivable			1,280			1,280
Other current assets	-	-	268	-	-	268
Other current financial assets	-	-	37,377	-	-	37,377
Other non-current financial assets	-	-	5,600	-	-	5,600
Trade payables	-	-	-	-	(23,000)	(23,000)
Current, interest-bearing financial debts	-	-	-	-	(198,623)	(198,623)
Other current liabilities	-	-	-	-	(9,058)	(9,058)
Non-current, interest bearing financial debts	-	-	-	-	(355,272)	(355,272)
Total	-	-	63,940	-	(585,953)	(522,013)

		Financial assets at 31 December 2024				Financial liabilities at 31 December 2024
€/000		At fair value through profit and loss	Measured at amortized cost	At fair value through other comprehensive income	Measured at amortized cost	Total
	Initially	Subsequently
Trade receivables	-	-	16,005	-	-	16,005
Dividends receivable			1,280			1,280
Other current assets	-	-	2,101	-	-	2,101
Other current financial assets	-	-	23,737	-	-	23,737
Other non-current financial assets	-	-	17,177	-	-	17,177
Trade payables	-	-	-	-	(17,594)	(17,594)
Current, interest-bearing financial debts	-	-	-	-	(214,036)	(214,036)
Other current liabilities	-	-	-	-	(7,519)	(7,519)
Non-current, interest bearing financial debts	-	-	-	-	(430,066)	(430,066)
Total	-	-	60,300	-	(669,215)	(608,915)

The financial assets measured at amor�zed cost generated revenues and costs. Revenues comprise exchange gains of € 40 thousand (€ 867 thousand in 2024). Costs, on the other hand, refer to exchange losses of € 715 thousand (€ 209 thousand in 2024) and to bad debts for € 98 thousand (€ 79 thousand in 2024) classified under other opera�ng costs.

Financial assets and liabili�es measured at amor�zed cost generated interest income of € 1,363 thousand (€ 2,462 thousand in 2024), interest expense of € 21,266 thousand (€ 30,391 thousand in 2024) and interest expense on lease payables of € 54 thousand (€ 95 thousand in 2024); in addi�on, general and administra�ve expenses include commission amounts and bank charges of € 70 thousand (also € 70 thousand in 2024).

2.4 Notes to the principal income statement cap�ons

2.4.1 Revenues

The following table analyzes net revenues by geographical area:

€/000	2025	2024
Italy	25,562	23,391
Europe (Italy excluded)	35,822	33,073
Rest of the World	56,113	59,057
Total	117,497	115,521

Details of revenues in each invoicing currency are provided below:

€/000	2025	2024
Euro	87,520	83,519
USD	29,977	31,975
GBP	-	27
Total	117,497	115,521

Revenues in USD refer primarily to invoices issued to GP Companies Inc. and NLB Corpora�on Inc., both US subsidiaries.

2.4.2 Other net revenues

Other net revenues are analyzed as follows:

€/000	2025	2024
Capital gains on the sale of tangible fixed assets	48	38
Income from rent/royalties	408	410
Revenues from consultancy	10	10
Sale of scrap	140	125
Reimbursement of expenses	1,667	899
Release of excess provisions	1,093	-
Refunds from insurance	2	4
Other	3,089	6,209
Total	6,457	7,695

Other opera�ng income principally includes reimbursements linked to the purchase of investments, as envisaged in the related contracts.

2.4.3 Costs by nature

€/000	2025	2024
Consumption of raw materials and components	36,374	37,108
Personnel and temporary staff	31,069	29,642
Services	17,530	16,817
Depreciation and amortization of tangible and intangible fixed assets (Notes 2.3.5 and 2.3.7)	6,251	5,972
Directors' and statutory auditors' remuneration	9,101	7,247
Hire purchase and leasing charges	327	301
Provisions and impairment of tangible and intangible fixed assets (Notes 2.3.5, 2.3.7 and 2.3.13)	220	89
Other operating costs	5,981	6,879
Total cost of sales, distribution costs, general and administrative expenses, other operating costs and impairment losses on tangible and intangible fixed assets	106,853	104,055

The emoluments of the Directors and Statutory Auditors of Interpump Group S.p.A. in 2025 were, respec�vely, € 8,996 thousand and € 105 thousand and they include remunera�on resolved by the Shareholders' Mee�ng, the remunera�on established by the Board of Directors for directors vested with special offices, including bonuses and the remunera�ve component deriving from stock op�on plans represented by the fair value of the op�ons calculated at the grant date, for the current por�on.

Other opera�ng costs mainly include other industrial costs, such as consumables, small tools and ancillary items, and other general and administra�ve expenses.

2.4.4 Financial income and expenses

€/000	2025	2024
Financial income
Interest income from liquid funds	2,170	2,902
Interest income from financial assets (intercompany loans)	1,363	2,462
Other financial income	1	1
Exchange gains	40	867
Total	3,574	6,232

€/000	2025	2024
Financial expenses
Interest expense on bank debt	17,250	26,752
Interest expense on bond	4,263	3,912
Interest expense on lease payables (IFRS 16)	54	95
Other financial expenses	132	165
Foreign exchange losses	715	209
Total	22,414	31,133

The reduc�on in interest income and expense was mainly atributable to the decline in official interest rates during the year, as well as to lower indebtedness.

2.4.5 Income taxes

The reconcilia�on of taxes calculated on the basis of the nominal rates in force and the effec�ve tax burden is as follows:

€/000	2025	2024
IRES
Profit before taxes from the income statement	125,683	100,939
Theoretical taxes at nominal rate (24%)	30,164	24,225
Lower taxes for non-taxable dividends	(30,920)	(24,563)
Higher taxes due to non-deductible adjustments to the value of investments	1,936	376
Lower taxes due to IRAP deduction relating to expenses for employees and similar	(28)	(28)
Lower taxes due to IRAP deduction on interest expenses	(3)	(3)
Lower taxes due to super and hyper depreciation	(438)	(597)
Higher (Lower) taxes due to tax benefit of franking goodwill	(164)	(164)
Taxes for prior financial years	4	-
Other	60	224
Total IRES	611	(530)

€/000	2025	2024
IRAP (regional tax)
Profit before taxes from the income statement	125,683	100,939
Theoretical taxes at nominal rate (4.65%)	5,844	4,694
Lower taxes for non-taxable dividends	(6,300)	(5,036)
Higher (Lower) taxes due to tax benefit of franking goodwill	(32)	(32)
Higher taxes for non-deductible payroll costs	34	21
Higher taxes for non-deductible directors' emoluments	354	316
Higher (Lower) taxes due to non-deductible financial expenses	73	34
Taxes for prior financial years	-	1
Higher taxes due to non-deductible adjustments to the value of investments	375	73
Other	10	56
Total IRAP	358	127
Total income taxes recognized in the income statement	969	(403)

Taxes recognized in the income statement can be broken down as follows:

€/000	2025	2024
Current taxes	(1,872)	2,592
Current taxes for prior financial years	(4)	(1)
Deferred taxes	907	(2,188)
Total taxes	(969)	403

The deferred taxes recognized in the income statement are analyzed as follows:

€/000	2025	2024
Deferred tax assets generated in the year	1,597	1,044
Deferred tax liabilities generated in the year	(1,057)	(906)
Deferred tax assets reversed to the income statement	(677)	(3,238)
Deferred tax liabilities reversed to the income statement	1,044	912
Total deferred taxes	907	(2,188)

During 2025, the Company confirmed once again the domes�c tax group elec�on made together with Interpump Piping S.r.l. that, from the 2024 tax year, also includes Walvoil S.p.A. This expansion of the perimeter had a posi�ve effect on the current tax charge for 2024, given the immediate possibility to realize tax assets held by the Company that were only par�ally recognized in the deferred tax calcula�on. The difference between the current tax charge and the amount of taxes paid, as reported in the cash flow statement, is atributable to the �ming of advances and final payments collected from the companies belonging to the domes�c tax group.

Given the size thresholds envisaged in the regula�ons, the mul�na�onal group to which the Company belongs is subject to applica�on of the Global Minimum Tax (Pillar II) regula�on from FY2024. In this regard and with specific reference to Italian law, the Group has iden�fied the existence of at least one of the three CbCR Safe Harbors for the year ended 31 December 2025 and, accordingly, the Company has not recorded any na�onal minimum tax charge. See Note 2.7.5 to the consolidated financial statements for a full discussion of the topic at Group level.

2.5 Earnings per share

Basic earnings per share

Earnings per share are calculated on the basis of profit for the year divided by the weighted average number of ordinary shares during the year as follows:

	2025	2024
Profit for the year attributable to shareholders (€/000)	124,714	101,342
Average number of shares in circulation	106,445,453	106,916,468
Basic earnings per share for the year (€)	1.172	0.948

Diluted earnings per share

Diluted earnings per share are calculated on the basis of diluted profit of the year atributable to the Parent company's shareholders, divided by the weighted average number of ordinary shares in circula�on adjusted by the number of poten�ally dilu�ve ordinary shares. The calcula�on is as follows:

	2025	2024
Profit for the year attributable to shareholders (€/000)	124,714	101,342
Average number of shares in circulation	106,445,453	106,916,468
Number of potential shares for stock option plans (*)	262,675	192,369
Average number of shares (diluted)	106,708,128	107,108,837
Earnings per diluted share at 31 December (Euro)	1.169	0.946

(*) calculated as the number of shares granted for in-the-money stock option plans multiplied by the ratio between the difference of the average value of the share in the year and the exercise price at the numerator, and the average value of the share in the year at the denominator.

A dividend for 2025 of € 0.35 (€ 0.33 in 2024) was allocated to each outstanding share.

2.6 Informa�on on risks

The Company is exposed to financial risks associated with its ac�vi�es:

• market risks (mainly related to currency exchange rates and interest rates) since the Company does business interna�onally and is exposed to the exchange risk deriving from exposure to the US dollar;
• credit risk connected with business rela�ons with customers;
• liquidity risk, with special reference to the availability of financial resources and access to the lending market and financial instruments in general;
• price risk in rela�on to metal price fluctua�ons that cons�tute a significant por�on of the raw materials purchase price.

The Company is not exposed to significant concentra�ons of risk.

The Company constantly monitors the financial risks to which it is exposed in such a way as to make an advance assessment of poten�al nega�ve effects and take appropriate ac�ons to mi�gate them.

With specific reference to the direct and indirect risks deriving from the macroeconomic environment and the Russia-Ukraine conflict, the exposure of the Company remains limited - as already stated in the Board of Directors' Report and confirmed by the economic results achieved in recent years.

The following sec�on contains reference qualita�ve and quan�ta�ve indica�ons regarding the uncertainty of these risks for Interpump Group S.p.A.

The quan�ta�ve data given below are not to be construed as forecasts; specifically, the sensi�vity analyses concerning market risks are unable to reflect the complexity and correlated rela�ons of markets that may derive from each prospected change.

2.6.1 Exchange-rate risk

The Company is exposed to risks arising from fluctua�ons in currency exchange rates, which may affect economic results. In par�cular, for revenues denominated in currencies other than those in which the respec�ve costs are denominated, exchange rate fluctua�ons can impact on the Company's opera�ng profit.

In 2025 the total amount of cash flow exposed directly to exchange risks was approximately 26% of Company revenues (about 28% in 2024), none of which is hedged against the risk of exchange-rate fluctua�ons.

The principal exchange rates to which the Company is exposed are EUR/USD in rela�on to sales in dollars of high pressure pumps in North America through GP Companies Inc., which is located in this market, and in direct rela�on to an important US customer. The Company also bills in USD to its other US subsidiary, NLB Corpora�on Inc.

The Interpump Group has adopted a policy of hedging commercial transac�ons denominated in foreign currency in the framework of which the most effec�ve deriva�ve instruments for the achievement of the preset goals have been iden�fied and the rela�ve responsibili�es, du�es and system of delega�ons have been defined.

In rela�on to the dollar exposure on recurring sales in the American market, Company policy is not to hedge those foreign currency transac�ons, while in rela�on to non-recurring sales in the US market (in terms of their amount or frequency), it is Company policy to arrange hedges only when deemed appropriate.

Again in rela�on to commercial ac�vi�es, the Company may be in a posi�on wherein it holds commercial receivables denominated in currencies other than the account currency. Fluctua�ons in exchange rates can therefore result in the realiza�on or assessment of posi�ve or nega�ve exchange differences.

In rela�on to the financial exposures, wherever the monetary ou�lows are denominated in a currency other than the account currency, fluctua�on of the exchange rates can impact the net profits of the Company nega�vely. No intercompany loans were granted or repaid in currencies other than the Euro during 2025. At 31 December 2025, there are no loans granted in currencies other than the func�onal currency of the Company.

The nature and structure of the exposure to exchange risk and the related hedging policies were substan�ally unchanged in 2025 and 2024.

2.6.2 Exchange risk sensi�vity analysis

The poten�al profit deriving from the change in the fair value of financial assets and liabili�es caused by a hypothe�cal and immediate increase in the value of the euro of 10% with respect to the US dollar would be about € 419 thousand (€ 388 thousand in 2024).

2.6.3 Interest-rate risk

It is currently Company policy not to arrange hedges, in view of the short average dura�on of the exis�ng bank debts (around 3.5 years). At 31 December 2025, financial debts totaling € 99.5 million bear interest at fixed rates, while the remainder bear interest at floa�ng rates.

At 31 December 2025 all liquid funds earn interest at floa�ng rates.

In addi�on, in 2025 and in prior years the Company granted loans to subsidiaries totaling € 43.0 million (€ 40.9 million at 31 December 2024). As described in Note 2.3.9, these loans were all granted at floa�ng rates, with the excep�on of those made to GS-Hydro Korea Ltd, Tubiflex S.p.A., and Hydra Dyne Technology Inc.

2.6.4 Sensi�vity analysis related to interest-rate risk

The effects of a hypothe�cal and immediate upward varia�on in interest rates of 50 basis points would subject Interpump Group S.p.A. to higher financial expenses, net of the increase in financial income, totaling € 1,542 thousand (€ 2,168 thousand in 2024). It is reasonable to assume that a 50 basis points decrease in interest rates would produce an equivalent effect, although this �me in terms of lower financial expenses.

2.6.5 Credit risk

The maximum theore�cal credit risk exposure of the Company at 31 December 2025 and 2024 is represented by the accoun�ng value of the financial assets recorded in the financial statements.

Historically the Company has not suffered any significant losses on receivables. This is because the Company generally allows extended payments only to its long-term customers, whose solvency and economic stability are known. In contrast, a�er having passed an ini�al credit ra�ng analysis, new customers are required to make payments in advance or to open a leter of credit for amounts due.

Individual write-downs are applied in rela�on to posi�ons, if of significant magnitude, in rela�on to which an objec�ve condi�on of uncollectability is present for all or part of the outstanding amount. The amount of the write-down takes account of an es�mate of the recoverable flows and the associated collec�on date, and the expenses and costs for future debt recovery. Collec�ve provisions are allocated in rela�on to receivables that are not subject to individual write-downs, taking account of the historic exposure and sta�s�cal data.

At 31 December 2025, Loans and Receivables from financial ac�vi�es total € 63,940 thousand (€ 60,300 thousand at 31 December 2024), and include € 855 thousand for writen down receivables (€ 852 thousand at 31 December 2024); amounts overdue by less than three months are € 3,497 thousand (€ 2,209 thousand at 31 December 2024), while those overdue beyond three months total € 122 thousand (€ 152 thousand at 31 December 2024).

The Company is not exposed to any significant concentra�ons of revenues. In fact, the top customer in terms of revenues is part of the Interpump Group and accounted for about 24% of total revenues in 2025 (22% in 2024). The top customer outside the Group accounted for approximately 4% of revenues in 2025 (3% in 2024) while, in total, the top 10 customers a�er the first intercompany customer accounted for 18% of revenues (21% in 2024).

2.6.6 Liquidity risk

The liquidity risk can arise if it becomes impossible to obtain, at acceptable economic condi�ons, the financial resources needed for the Company's business opera�ons. The two main factors that define the Company's liquidity situa�on are the resources generated by or used in business ac�vi�es and investment, and the characteris�cs of expiry and renewal of debt or liquidity of financial investments and the rela�ve market condi�ons.

The Company has adopted a series of policies and processes aimed at op�mizing the management of resources in order to reduce the liquidity risk:

• reten�on of an appropriate level of cash on hand;
• diversifica�on of the banks with which the Company operates;
• access to adequate lines of credit;
• nego�a�on of covenants at a consolidated level;
• monitoring of the prospec�ve condi�ons of liquidity in rela�on to the corporate process.

The maturity characteris�cs of interest bearing financial debts and bank debts are described in Note 2.3.11. Together with the resources generated by opera�ng and financing ac�vi�es, as well as from the collec�on of dividends from affiliates, management considers that the funds and lines of credit currently available, or at an advanced stage of nego�a�on, will enable the Company to meet the requirements deriving from inves�ng ac�vi�es, the management of working capital and the setlement of payables as they fall due, while also suppor�ng the pursuit of a growth strategy that includes targeted acquisi�ons capable of crea�ng value for the shareholders. Liquid funds at 31 December 2025 total € 108.9 million. These funds, together with the cash generated in the manner described above, are definitely factors that reduce the exposure of the Company to liquidity risk. The decision to maintain a high level of cash was adopted in order to minimize the liquidity risk, which is considered important given the current state of uncertainty of the economy, and to pick up on any acquisi�on opportuni�es that may arise.

2.6.7 Price risk

Interpump Group S.p.A. is exposed to risks deriving from price fluctua�ons of metals, which may affect economic results and profitability. Specifically, the purchase cost of metals accounted for about 37% of the purchase cost of the Company's raw materials, semi-finished products and finished products (25% in 2024). The main metals u�lized by the Company include brass, aluminum, stainless steel and steel.

Company policy is to transfer the cost of stocking materials to suppliers; in this scenario the risk is hedged by means of orders for specific periods and quan��es agreed at a fixed price; at 31 December 2025 signed commitments cover 65% of forecast stainless steel consump�on in 2026 (41% at 31 December 2024), 33% of forecast aluminum consump�on in 2026 (48% at 31 December 2024), 32% of forecast brass consump�on in 2026 (85% at 31 December 2024) and 31% of forecast steel consump�on in 2026 (41% at 31 December 2024). In addi�on, at 31 December 2025 stocks covered about 39% of forecast brass consump�on (31% at 31 December 2024), about 33% of forecast stainless steel consump�on (30% at 31 December 2024), about 30% of forecast steel consump�on (37% at 31 December 2024) and about 14% of forecast aluminum consump�on (17% at 31 December 2024).

The prices for non-energy raw materials have remained high with respect to the pre-Covid period, despite the prolonged global economic slowdown, with fluctua�ons during the year depending on the commodity concerned. On the one hand, steel prices tended towards stability while, on the other, aluminum and brass prices rose, except in the summer months. Copper prices rose strongly in 2025, once again reaching the peaks recorded in 2022. Considerable uncertainty is expected in 2026, principally due to the recent tariffs and entry in force of the Carbon Border Adjustment Mechanism

(CBAM), which will impact the cost of non-EU imports and make it harder to define stable pricing policies. In order to mi�gate the vola�lity of prices, in this context the Company has maintained focus on the organiza�on of processes, accompanied by the daily monitoring of markets, constant aten�on to the rapid change in global economic policies, medium-term agreements with suppliers in order to stabilize costs, and stocking up at more favorable moments in the cycle.

The Group is also monitoring developments carefully with regard to the import tariffs imposed on countries by the United States, and the countermeasures taken by them, analyzing the poten�al impacts on the business and studying the ac�ons to be taken to mi�gate their poten�al adverse effects.

2.6.8 Climate change risk

With regard to climate change, the Company does not fall within the scope of Direc�ve 2003/87/EC (as amended most recently by Direc�ve (EU) 2018/410), which introduced and governs the European Union Emissions Trading System (EU ETS). The ETS is the principal tool adopted by the European Union to reach the CO² reduc�on targets established for the principal industrial sectors and avia�on. Although the Company is not included in the industrial sectors covered by the ETS, it is nevertheless commited to combat climate change.

Commencing from 2024, in accordance with Direc�ve (EU) 2022/2426 (Corporate Sustainability Repor�ng Direc�ve - CSRD), adopted in Italy by Decree 125/2024, the Interpump Group reports the material impacts, risks, opportuni�es, policies, ac�ons, objec�ves, business model and performance metrics in sec�on 2.1 - ESRS E1 - Climate change of the CSRD chapter in the Consolidated Annual Financial Report.

Based on a scenario analysis of corporate loca�ons, the impacts of physical risks (acute and chronic) on assets and revenues were not considered significant and, accordingly, no specific provisions or asset writedowns have been recorded at 31 December 2025.

Again in view of the above, the forecasts reflected in the five-year business plan used for the impairment test of goodwill were not significantly affected by the above physical, climate-related risks but, nevertheless, were prepared in a prudent manner that contains the expected level of future cash flows.

The Company is also poten�ally exposed to risks deriving from the impacts of future, more restric�ve laws and regula�ons governing energy efficiency and climate change, that may result in increased opera�ng costs.

2.6.9 Geo-poli�cal risk

The interna�onal macroeconomic environment con�nues to reflect a high level of uncertainty, caused by the geo-poli�cal tensions and conflicts in various areas of the world, not least the Middle East.

These tensions intensified during 2025 following episodes of instability in the Gulf area and growing fric�on between Iran, the USA, Israel and other interna�onal players. As a consequence, the energy markets became more vola�le and fears for global infla�on increased. The geo-poli�cal situa�on has escalated further in early 2026, with the outbreak of conflict involving Iran and other regional and interna�onal powers. These dynamics could indirectly impact global market trends and the industrial sectors in which the Company operates, with possible adverse effects on the availability and cost of raw materials, supply chain efficiencies, interna�onal logis�cs and, not least, energy prices and exchange rates.

The Company con�nues to monitor geo-poli�cal and macroeconomic developments with care, assessing the poten�al direct and indirect effects should current conflicts escalate further, even though these are difficult to quan�fy at present. Where appropriate, the Group takes steps to mi�gate the poten�al adverse impacts, including via geographical diversifica�on of the sources of supply, stronger rela�ons with alternate suppliers and careful management of opera�ng and financial risks.

2.7 Notes to the cash flow statement

2.7.1 Property, plant and equipment

In 2025 the Company purchased property, plant and equipment totaling € 5,406 thousand (€ 3,745 thousand in 2024). This expenditure involved the payment of € 5,919 thousand, inclusive of the payment of past debts for the same purpose and net of payables deferred to the following year (€ 3,619 thousand in 2024).

2.7.2 Cash and cash equivalents

This item can be broken down as follows:

€/000	31/12/2025	31/12/2024	01/01/2024
Cash and cash equivalents as per the statement of financial position	108,857	109,558	88,280
Bank debts (for current account overdrafts, subject-to collection advances and accrued interest)	(3,655)	(4,588)	(5,242)
Cash and cash equivalents as per the cash flow statement	105,202	104,970	83,038

2.7.3 Net financial posi�on and cash flow statement

For the amount and details of the main components of the net financial posi�on and the changes in 2025 and 2024, see Note 2.3.2 - Cash flow in the "Report on opera�ons" presented together with the separate financial statements at 31 December 2025 of Interpump Group S.p.A.

2.8 Commitments

The Company has commitments to purchase property, plant and equipment totaling € 3,253 thousand (€ 1,719 thousand at 31 December 2024), and intangible fixed assets totaling € 223 thousand (zero at 31 December 2024).

The Company has also received guarantees for the purchase of equity investments totaling € 400 thousand (€ 4,400 thousand at 31 December 2024) and given secured guarantees to third par�es totaling € 266 thousand (secured guarantees of € 274 thousand to third par�es and of € 350 thousand to consolidated companies at 31 December 2024).

2.9 Transac�ons with related par�es

With regard to transac�ons with Group companies, please see sec�ons 4.1 and 4.2 of the "Report on opera�ons" accompanying the separate financial statements of Interpump Group S.p.A. at 31 December 2025.

The above transac�ons were carried out on arm's-length condi�ons.

2.10 Events occurring a�er the close of the year

No atypical or unusual transac�ons have been carried out subsequent to 31 December 2025 that would call for changes to these separate financial statements.

On 17 February 2026, in the context of the plan to purchase treasury shares authorized at the Shareholders' Mee�ng held on 29 April 2025 pursuant to art. 144-(2) of Consob Regula�on 11971/1999, Interpump Group S.p.A. launched a program to purchase a total of 500,000 treasury shares on the MTA, organized and managed by Borsa Italiana S.p.A., between 17 February and 16 May 2026, at a maximum price of € 60.00 per share and, therefore, with a maximum outlay of € 30 million. For the purposes of implemen�ng this buy-back program, on 16 February 2026 the Company granted a specific mandate to Banca Akros S.p.A. that terminated on 11 March: on that date, Interpump Group S.p.A. held 2,985,087 shares in its por�olio, equal to 2.742% of the share capital, purchased at an average cost of € 37.97442.

With specific reference to the latest interna�onal conflict involving Iran, the United States and Israel, which broke out as a consequence of the military opera�ons carried out on 28 February 2026, the Company is monitoring developments and their effects - which are hard to quan�fy given the recent start of the conflict - on its economic and financial posi�on.

See the "Report on opera�ons" accompanying the Consolidated Annual Financial Report at 31 December 2025 for informa�on about subsequent events rela�ng to the Group.

2.11 Proposal to the Shareholders' Mee�ng

The profit for the year was € 124,714,455. We propose:

• par�al distribu�on of the profit for the year to the shareholders by declaring a dividend of EUR 0.35 for each share in circula�on, including the right as per art. 2357-(3) subsec�on 2 of the Italian Civil Code.
• alloca�on of the remaining profit for the year to the Extraordinary Reserve (since the legal reserve has already reached the limit of one-fi�h of the subscribed and paid-up share capital).

Annex 1: Atesta�on of the separate financial statements pursuant to art. 81-(3) of Consob regula�on no. 11971 of 14 May 1999, as amended

• 1. The undersigned, Fulvio Mon�pò and Mauro Barani, respec�vely Execu�ve Chairman and Manager responsible for dra�ing the accoun�ng documents of Interpump Group S.p.A., taking account also of the provisions of art. 154-(2), subsec�ons 3 and 4 of Decree 58 dated 24 February 1998, atest to:
• the adequacy in rela�on to the characteris�cs of the business and
• effec�ve applica�on of the administra�ve and accoun�ng procedures for forma�on of the financial statements during 2025.
• 1. We further confirm that the separate financial statements of Interpump Group S.p.A. for the year ended 31 December 2025, repor�ng total assets of € 1,404,252,297, net profit of € 124,714,455 and shareholders' equity of € 803,574,884:
• a. correspond to the results of the company books and accoun�ng entries;
• b. were prepared in compliance with the interna�onal accoun�ng standards approved by the European Commission further to the enforcement of Ruling (CE) no. 1606/2002 of the European Parliament and the European Council of 19 July 2002, and the provisions issued in implementa�on of art. 9 of Italian legisla�ve decree 38/2005 and the contents are suitable for providing a truthful and fair representa�on of the equity, economic and financial situa�on of the Company;
• c. include the Board of Directors' Report, which contains a reliable analysis of performance and results and the situa�on of the issuer together with a descrip�on of the main risks and uncertain�es to which it is exposed.

Sant'Ilario d'Enza (RE), 20 March 2026

Fulvio Mon�pò Mauro Barani

Executive Chairman Manager responsible for drafting the company's accounting documents

Independent Auditors' Report on the separate financial statements of Interpump Group S.p.A.

Key audit matters	Auditing procedures performed in response to key audit matters
Investments in subsidiaries

interpumpgroup.it