Interpump Group — Earnings Release 2024

Feb 14, 2025

4Q-2024 PRELIMINARY FINANCIAL RESULTS 14th February 2025 INTERPUMP GROUP

• KEY HIGHLIGHTS ▪ KEY HIGHLIGHTS

• 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ 4Q-2024 PRELIMINARY FINANCIAL RESULTS
• GROUP SUSTAINABILITY PATH ▪ GROUP SUSTAINABILITY PATH
• OUTLOOK

• OUTLOOK

▪ ANNEX

• ANNEX

A DELIVERING GROUP – TOP LEVEL CASH GENERATION

• Margin protection and cash improvement delivered in the 2nd worst year of Group history in terms of sales (1)
  • ‒ Margin protection delivered

4Q-2024 RESULTS

• Profitability resilience confirmed
• ‒ Cash flow improvement delivered
  • Top level cash generation
• Important steps to support Group's future growth
  • US\$300m Private Shelf agreement (3)
  • Acquisitions delivered Group growth strategy
  • 2023-2025 ESG Journey: conclusion of "foundation" phase (4)
• 2025 financial expectations
  • Sales: between -5% and +1% on organic basis
  • ‒ Profitability: to protect of 2024 results
  • ‒ Cash flow: to maintain and even to improve 2024 achievement

250

(1) Excluding 2005 with disposal of IP Cleaning (€ 293m) - (2) 2023 EBITDA net of € 9m insurance reimbursement correlated to IMM Romania fire - (3) €100 single tranche issued (4) S. 1 e G.5 actions data will be disclosed in March 2025, after having collected and processed all the data required for the annual financial and non-financial reporting

• 2024 EBITDA: profitability resilience confirmed
• Capability to match extraordinary market swings and acquisitions dilution impact
  • Complementary nature of two divisions
  • Increased diversification by division, geography, product and market application
  • Business model and cost structure flexibility
  • Integration capability

3Q4Q--3Q2023YTD 2024 RESULTS A DELIVERING GROUP – TOP LEVEL CASH GENERATION

• 2024 FCF: top level cash generation
• Slightly better than 2020 despite worst addends
  • 250.0 – Organic sales: -12.6% in 2020 and -9% in 2024, theoretically lower benefit from sales reduction
  • CAPEX: € 61m in 2020 and € 128m in 2024
• 150.0 ▪ Capability to exploit cash in worsening environment

0.0

0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% 140.0% 50.0

100.0

200.0

• EBITDA resilience
• TWC proactive management
  • Customer quality
  • Tactical supply chain approach 160.0%
  • Inventories fast adaptation capability
• CAPEX flexibility

GROUP 1996-2024 FCF EVOLUTION

1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

• 2023-25 commitments, 1 target with 2 guidelines(1)
• One target: sales
  • around 25% of total growth(2)
• Two guidelines: profitability and leverage
  • Profitability: above 22% EBITDA margin including possible M&A temporary dilution effect
  • Leverage(3): between 1.0x and 1.5x

2023-25 GROUP EXPECTED SALES EVOLUTION (1)

LEVERAGE RATIO GUIDELINE

(1) At contract FX rate - (2) From both organic growth and M&A - (3) Total debt/EBITDA ("Total Debt" = NFP including commitments for the acquisition of investments

▪ KEY HIGHLIGHTS

• 2024
  • Sales: normalisation in Hydraulics much heavier than expected
  • Profitability: diversification, business model flexibility and integration capability allowed to minimise negative flow through
  • NFP: execution of FCF commitment drove leverage to 1x

Million €		4QUARTER		FULL	YEAR
	2023	2024		2023	2024
Group Sales Growth, of which Organic ▪ (1) change Perimeter ▪ impact FX ▪	519 6	489 9 -5.7% -7.8% 0.0% +2.1%		2 240 0 ,	2 078 4 , -7.2% -9.0% +1.9% -0.2%
EBITDA(2) Growth % sales on net	111 1 21.4%	93 1 -16.2% 19.0%		536 7 24.0%	456 6 -14.9% 22.0%
Net Income	37 0	48 1		277 7	228 5
(3) NFP				486 5	409 0

(1) 2024 perimeter change: Mouldtech (consolidated from April 2023), I.Mec and and Waikato (consolidated since June 2023), PP China, YRP Flow Technologies (consolidated since April), Alltube (consolidated since May ), Alfa Valvole (consolidated since June), H.S. (consolidate since July) and Hidrover (consolidated since December) (2) Excluding € 67.1m and € 81.2m of subsidiaries purchase commitments in 2024 and 2023 respectively

• Hydraulics
  • Sales: normalisation much heavier than expected
  • Profitability: margin protection effective for the most part of the year
• Water-Jetting
  • Sales: post COVID recovery going on
  • Profitability: improved capability to manage production inefficiencies

			4QUARTER					FULL YEAR
	Million €	2023	2024		2023	2024
CS LI	SALES Growth	365.7	316.5 -13.5%		1,634.3	1,407.5 -13.9%
U A R D Y H	EBITDA Growth (1) % on net sales	70.4 19.2%	48.4 -31.3% 15.2%		368.9 22.5%	279.8 -24.2% 19.8%		-22.3% and from 22.0% to 19.8% on organic basis and excluding IMM
								positive one-off
G N TI T	SALES Growth	153.9	173.4 +12.7%		605.7	670.9 +10.8%
E R-J	EBITDA Growth	40.6	44.8 +10.1%		167.8	176.8 +5.4%
ATE From 26.2% to 26.0% excluding acquisitions W	% on net sales	26.2%	25.7%		27.5%	26.2%		From 27.5% to 26.8% excluding acquisitions

300

350

400

450

500

550

600

▪ 4Q2024: normalisation still affecting Hydraulics

3Q4Q--3Q2023YTD 2024 RESULTS

• − Hydraulics: "Earth moving machine" and "Construction" are still stagnating at the bottom, while "Agri" and "Lift" decrease halved
• − Water Jetting: "revenues for projects" and "process pump" best performers
• 2024: Water Jetting strength and acquisitions mitigated Hydraulics weakness
  • − Hydraulics: normalisation spread to all products
  • − Water Jetting: strong organic growth compounded by acquisitions

2024 GROUP SALES EVOLUTION

SALES – NORMALISATION VERSUS GROWTH

100

200

300

400

500

600

700

200 250 300 350 400 450 500 HYDRAULICS € 366m -14.1%

3Q4Q--3Q2023YTD 2024 RESULTS

-13.5%

+12.7%

50

24.5%

25.0%

25.5%

26.0%

3Q4Q--3QYTD2023 2024 RESULTS EBITDA – MINIMISING NORMALISATION

(1) Management controlling system data – (2) In the graph "purchase" is net of "inventories changes" and "total other income"

• NFP equal to € 409mcompared to € 486m of December 2023(1)
• Cash generation at top level: FCF up by almost 40%, to € 205m
  • TWC (2) : € 60m of cash generation
  • CAPEX: down almost by 20% to € 135m, delivering the normalisation process
  • Acquisitions: € 92m
    • New companies and put-call options exercise (e.g. Transtecno remaining 20% stake)

(1) Excluding € 67.1m and € 82.1m of subsidiaries purchase commitments in 2023 and 2022 – (2) Trade Working Capital = NWC with "Trade Payable" net of CAPEX Trade Payable (3) Principal portion of finance lease installments +/- new leasing contracts arranged +/- remeasurement and early close-out of leasing contracts – (4) "Investment in property, plant & equipment" less "Proceeds from the sales of property, plant & equipment + Investment in other intangible assets" - (5) Principal portion of finance lease installments

600

600

-100.0%

-50.0%

0.0%

50.0%

100.0%

150.0%

200.0%

• Normalisation process slowed down by sales drop
  • Trade receivable and payable evolution consistent with sales evolution
  • Inventory lower adjustment
    • More difficult to promptly and consistently follow sales evolution
• Commitment remain the same

0

400

800

2019-2024 TRADE WORKING DETAILS Breakdown by components

0

0%

50%

100%

100

200

0%

5%

10%

▪ CAPEX(1) normalisation process ongoing: down by around 20%, from € 165m to € 128m

3Q4Q--3Q2023YTD 2024 RESULTS

0%

50%

100%

• Different evolution, different CAPEX approach
  • Hydraulics down according to the final steps of 2021-2023 Post COVID plan
  • Water Jetting increase driven by Hammelmann and Inoxpa
    • Hammelman: follow "process pump" market demand
    • Inoxpa: strength presence in India to improve overall efficiency

2019-2024 CAPEX BREAKDOWN by DIVISION (2) (Total amount - % on total CAPEX)

2019-2024 CAPEX EVOLUTION (% on total CAPEX)

2019-2024 CAPEX BREAKDOWN by CATEGORY (Total amout - % on total CAPEX)

(1) Accounted CAPEX (Increase of fixed assets used in the production process) - (2) Management estimates

3Q4Q--3Q2023YTD 2024 RESULTS NFP – CAPEX – DELIVERING NORMALISATION

• New Interpump Hydraulics headquarter
  • 62,000 sq. metres, a total area increase of around 30%
  • Best environmental standards
• Relocation started at 2024 end
  • New machine delivered, shipping and PTOs assembly departments already transferred
• Transfer ongoing, main target is to protect Operations continuity and minimise inefficiencies

New Machining Centre DMC 100U duoBLOCK for the processing of EFP-1 Engine Flywheel PTO

The rendering and the January wip status of the new headquarters in Sala Bolognese (Italy)

3Q4Q--3Q2023YTD 2024 RESULTS NFP – CAPEX – DELIVERING NORMALISATION

• New Inoxpa India headquarter
  • A total area of 32,000 sq. metres, of which 17,500 for the factory and 4,500 for office space
  • Investment main targets
    • Increase of production capacity
    • Operations centralization
    • Alignment of working environment to Group best practices
    • Strengthen of brand perception
• Relocation done last summer, Operations now fully on track

IExternal facade and factory partial view of new headquarter in Pune

• Acquisitions with a perfect fit with Group growth and diversification strategy
  • Strengthening Group's global network
    • PP China & YRP, "Flow Processing" in China: entry into the plant engineering market and expansion in the components market with the support of a trustworthy management
    • Alltube, "Hose, pipes & fittings» in UK: adding rigid pipe fabrication and manipulation in the region
    • Hidrover, "Cylinders" in Brasil: a product in total synergy with the Group's portfolio
  • Completing Group product catalogue
    • Alfa Valvole, "Pressure pump" in Italy: dosing pump for precision fluid metering and injection applications and ball valves for any fluid control
• Most relevant put-call options exercise
  • 20% of Transtecno to 100% of the total equity
  • 20% Draintech to 100% of the total equity

(1) 2024 INTERPUMP GROUP ACQUISITIONS
		FINANCIAL
ACQUIRED COMPANIES		Sales	EBITDA Margin	IMPLIED EV/EBITDA
9 April	PP CHINA - China YRP FLOW TECNOLOGY - China	€ 10m	10%	2.9x
22 April	ALLTUBE – U.K.	€ 5m	15%	1.7x
3 June	ALFA VALVOLE - Italy	€ 28m	26%	6.1x
24 October	HIDROVER - Brasil	€ 23m	26%	4.4x

(1) See please slide 35 for additional details on 2024 acquisitions - (2) 2023 Reported for PPChina & YRP Flow Technology, Alltube and Alfa Valvole and 2024 Forecast for Hidrover

▪ KEY HIGHLIGHTS

▪ 4Q-2024 PRELIMINARY FINANCIAL RESULTS

▪ GROUP SUSTAINABILITY PATH

"A falling tree makes more noise than a growing forest" Lao Tzu

• All 2024 ESG Plan actions delivered (1)
  • 2023-2025 ESG Journey: conclusion of "foundation" phase
• Multi annual actions delivery on track
  • S.4 action of 2025 Global Mobility Program anticipated to 2024
• Each action drove Group enhancement
  • CPPA (2): for the first time a coordinated and unitary execution
  • Eco-Design: definition of guidelines which will drive decisions and actions at subsidiaries level
  • Responsible Supply Chain: subsidiary best practice spread to most important Italian entities
• Group corporate functions leading the way
• Clear vision on possible next steps to pursue and enhance Group ESG Journey
  • Already working on 2026-2028 Plan

4Q3Q2023YTD -2024 RESULTS THREE PRIORITIES FOR THREE PILLARS

22

ANALYSIS, MEASUREMENT, REVIEW AND FINETUNE

▪ KEY HIGHLIGHTS

4Q-2024 RESULTS 2023

▪ 4Q-2024 PRELIMINARY FINANCIAL RESULTS

▪ GROUP SUSTAINABILITY PATH

▪ OUTLOOK

20232025 SOLID BASES TO FACE THE FUTURE

• 2025 entrance consistent with 2024 trends(1)
  • ‒ Water Jetting on going strength
  • ‒ Hydraulic stagnation at the curve bottom
• 2025 financial expectations
  • Sales: between -5% and +1% on organic basis
    • 2024 perimeter changes impact: around 2% (2)
  • ‒ Profitability: to protect of 2024 results
  • ‒ Cash flow: to maintain and even to improve 2024 achievement
• Working on 2025 commitments
  • ‒ Financials commitments: focus on opportunities consistent with both Group diversification and growth strategy and M&A approach
  • ‒ ESG commitments: entering and delivering last phase

2010-2025YTD BACKLOG EVOLUTION (1)

• DISCLAIMER ▪ KEY HIGHLIGHTS

• 2023 ESG ACTIONS

• 4Q-2023 DETAILS ▪ 4Q-2025 PRELIMINARY FINANCIAL RESULTS

▪ GROUP SUSTAINABILITY PATH

▪ OUTLOOK

▪ ANNEX

▪ DISCLAIMER

▪ DISCLAIMER

ANNEX DISCLAIMER − PERFORMANCE INDICATORS

The Group uses several alternative measures that are not identified as accounting parameters in the framework of IFRS standards, to allow better evaluation of the trend of economic operations and the Group's financial position. Such indicators are also tools that assist the directors in identifying operating trends and in making decisions on investments, resource allocation and other business matters. 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 alternative performance indicators are constituted exclusively starting from the Group's historical data and measured in compliance with the matters established by the Guidelines on Alternative Performance Measures issued by ESMA/2015/1415 and adopted by Consob with communication no. 92543 of 3 December 2015. These indicators refer only to performance in the period illustrated in this Interim Board of Directors' Report and the comparative periods and not to expected performance and must not be taken to replace the indicators required by the reference accounting standards (IFRS). Finally, the alternative indicators are processed with continuity and using uniform definition and representation for all the periods for which financial information is included in this Interim Board of Directors' Report.

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

• Earnings/(Losses) before interest and tax (EBIT): Net sales plus Other operating income less Operating costs (Cost of sales, Distribution costs, General and administrative expenses, and Other operating costs)
• Earnings/(Losses) before interest, tax, depreciation and amortization (EBITDA): EBIT plus depreciation, amortization, writedowns and provisions;
• Net indebtedness (Net financial position): calculated as the sum of Loans obtained and Bank borrowing less Cash and cash equivalents;
• Capital expenditure (CAPEX): the sum of investment in property, plant and equipment and intangible assets, net of divestments;
• Free Cash Flow: the cash flow available for the Group, defined as the difference between the cash flow of operating activities and the cash flow for investments in tangible and intangible fixed assets;
• Capital employed: calculated as the sum of shareholders' equity and net financial position, including debts for the acquisition 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 functional area (also called the "cost of sales" method). This form is deemed to be more representative than its "type of expense" counterpart, which is nevertheless included in the notes to the Annual Financial Report. The chosen form, in fact, complies with the internal reporting and business management methods. The cash flow statement was prepared using the indirect method.

This document has been prepared by Interpump Group S.p.A for use during meetings with investors and financial analysts and is solely for information purposes. The information set out herein has not been verified by an independent audit company.

ANNEX

Neither the Company nor any of its subsidiaries, affiliates, branches, representative offices (the "Group"), as well as any of their directors, officers, employees, advisers or agents (the "Group Representatives") accepts any responsibility for/or makes any representation or warranty, express or implied, as to the accuracy, timeliness or completeness of the information set out herein or any other related information regarding the Group, whether written, oral or in visual or electronic form, transmitted or made available.

This document may contain forward-looking statements about the Company and/or the Group based on current expectations and opinions developed by the Company, as well as based on current plans, estimates, projections and projects of the Group. These forward-looking statements are subject to significant risks and uncertainties (many of which are outside the control of the Company and/or the Group) which could cause a material difference between forward-looking information and actual future results.

The information set out in this document is provided as of the date indicated herein. Except as required by applicable laws and regulations, the Company assumes no obligation to provide updates of any of the aforesaid forward-looking statements.

Under no circumstances shall the Group and/or any of the Group Representatives be held liable (for negligence or otherwise) for any loss or damage howsoever arising from any use of this document or its contents or otherwise in connection with the document or the aforesaid forward-looking statements. This document does not constitute an offer to sell or a solicitation to buy or subscribe to Company shares and neither this entire document or a portion of it may constitute a recommendation to affect any transaction or to conclude any legal act of any kind whatsoever.

This document may not be reproduced or distributed, in whole or in part, by any person other than the Company. By viewing and/or accepting a copy of this document, you agree to be bound by the foregoing limitations.

▪ DISCLAIMER

ANNEX

SALES DETAILS – SALES BREAKDOWN (1) ANNEX – GROUP

GROUP 2024 sales: € 2.078m

SALES DETAILS – SALES BREAKDOWN (1) – HYDRAULIC

HYDRAULICS 2024 sales: € 1.407m

(1) Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%

SALES DETAILS – SALES BREAKDOWN (1) – WATER JETTING

WATER JETTING 2024 sales: € 671m

-40% -30% -20% -10% 0% 10% 20% 30% 40% 50% 60%

SALES DETAILS – ORGANIC EVOLUTION

GROUP 2020-2024 ORGANIC GROWTH EVOLUTION by QUARTER

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24

HYDRAULICS 2020-2024 ORGANIC GROWTH

50%

WATER-JETTING 2020-2024 ORGANIC GROWTH EVOLUTION by QUARTER

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24

ACQUISITION DETAILS

2024 INTERPUMP GROUP ACQUISITIONS

ACQUIRED COMPANIES		FINANCIAL DATA (1)				IMPLIED	First consolidation
		Sales	EBITDA Additional Total Margin Information consideration		EV/EBITDA	Group division
9 April	PP CHINA YRP FLOW TECNOLOGY China	€ 10m	10%	-	€ 2.9m	2.9x	April 2024 Water Jetting division
22 April	ALLTUBE U.K.	€ 5m	15%	€ 1m of cash	€ 2.3m	1.7x	May 2024 Hydraulics division
3 June	ALFA VALVOLE Italy	€ 28m	26%	€ 11m of cash	€ 55.2m	6.1x	June 2024 Water Jetting division
24 October	HIDROVER Brasil	€ 23m	26%	€ 3m of cash	€ 17.5m	4.4x	December 2024 Hydraulics division

(1) 2023 Reported for PPChina & YRP Flow Technology, Alltube and Alfa Valvole and 2024 Forecast for Hidrover

ANNEX 2023-2025 ESG JOURNEY

• DISCLAIMER
• 4Q-2023 DETAILS
• 2023-2025 ESG JOURNEY - 2024 ACTIONS (1)

(1) Please refers to Group web site for specific documentation on the topic ("2023 ESG Activities Overview", 12 January 2024) (1) Please refers to Group web site for specific documentation on the topic ("2024 ESG Actions Overview", January 2025)

POWER PURCHASE AGREEMENT MAIN FEATURES

Plant technology	Photovoltaic – New plant
Plant location	Italy
PPA typology	Physical sleeved
Consumption volumes	20GWh (1)
Contract length	10 years, starting from 1° January 2025
Price	Fix
Contract perimeters	5 Italian Group companies IMM, Interpump Group, Interpump Hydraulics, Reggiana Riduttori and Walvoil
Energy destination	Self-consumption
Energy provider	Statkraft Markets GmbH

ACTIONS E.7 – PRODUCT ECO-DESIGN GUIDELINES ^E

ACTIONS E.7 – PRODUCT ECO-DESIGN GUIDELINES ^E

CORE PRINCIPLES	GOALS
Efficient material management	▪ Increased use of renewable energy sources ▪ Seeking design solutions to reduce materials used while preserving performance levels ▪ Adopt cross-product logics to optimise production and warehousing (especially for intra-group collaborations)
Efficient water management	▪ Designing products that optimise customers' water consumption ▪ Recovery of water for reuse in the production cycle
Efficient energy management	▪ Streamlining company production processes through updating technical knowledge, processes and plants ▪ Optimising consumption for customers
Harmful material use reduction	▪ Reduction in the use of industrial products & processes with hazardous substances, replacing them instead with less toxic and polluting equivalents
Products useful life extension	▪ Product design that also incorporates possible end-of-life scenario ▪ Sensorisation ("Internet of things"), planned maintenance and customer collaboration
Local supply chain & logistic improvement	▪ Attention to local suppliers and promotion of collaboration based on proximity ▪ Optimisation of internal and external logistics

ACTION S.4 – GLOBAL MOBILITY PROGRAM (1) ANNEX

GLOBAL MOBILITY PROGRAM

4 GOALS

Group strategy implementation

Mobility is a key lever for achieving growth, innovation and competitiveness. Managers' mobility is designed to support Group presence in key markets, facilitating the transfer of critical skills, meeting local needs of the hosted company.

Group 2023-25 ESG Journey alignment

Mobility promotes greater diversity, equity, and inclusion within the organization. It fosters cultural exchange and global collaboration, helping to create a more sustainable and responsible work environment.

Professional growth fast track

Mobility accelerates professional growth, acting as a catalyst for career advancement. It enhances skills development and fast-tracks the achievement of key career milestones, offering diverse experiences and exposure to different roles and environments.

Value creation

Mobility is key tool for driving growth by enabling strategic allocation of talent and expertise where needed. Deploying skilled employees in strategic roles directly contributes to operational efficiency, increasing productivity and supporting the implementation of new projects.

• Approach: leverage on existing best practices at subsidiaries level
• Methodology: internally performed activities
  • Harmonise business model variety between and inside divisions
  • Overcome decentralised organisation at operational level
  • Consider the relatively small and streamlined structure of Group suppliers
• Principles: concreteness and applicability
  • Analysis of questionnaire received from Group's customers
  • Benchmark with industry sectors best practices
  • Brainstorming with internal functions (e.g. Procurement, "Internal Audit, Risk & Compliance")
• Goal: development of a methodology which overcomes both Group variety and decentralisation and suppliers' features
  • Solid foundation for future next steps (e.g. sample enlargement, audit activities)

ACTION S.6 – RESPONSABLE SUPPLY CHAIN G

• Focus: "Cost of sales", the most important cost item of P&L
  • 4 most important cost items
    • Purchase of raw materials, semi-finished products, finished products
    • External manufacturing costs
    • Consumable tools
    • Consumables
• Sample: all Italian manufacturing companies
  • 18 companies
    • Among most important Group subsidiaries: IMM, Interpump Group(1), Interpump Hydraulics, Reggiana Riduttori, Transtecno and Walvoil
• Coverage: at least 50% of "Cost of sales" sample

ACTION G.4 – TAX COMPLIANCE CONSOLIDATION ^G

ANNEX ACTION G.4 – TAX COMPLIANCE CONSOLIDATION – TCF

TAX CONTROL FRAMEWORK

Detect, measure, manage and control the tax risk

4 GOALS
Tax culture spread	Sustainable development and Group asset integrity	Tax regulations application consistency and reliability and litigation prevention	Tax and reputational risk minimization
4 PILLARS
Internal regulatory instruments	Role & Responsibilities	Processes	Information flows & Reporting

ANNEX G.6 UPDATING ON ESG JOURNEY ^G

• Improvement of communication transparency
  • 360° approach, not only ESG topics
• 2023-25 ESG Journey
  • Quarterly updating
  • Ad hoc presentations
    • «Tax Compliance Consolidation», 14 November 2024
    • «Corporate Purchase Power Agreement», 21 November 2024
    • «Eco-Design Guidelines for Group Products», 20 December 2024
    • «Responsable Supply Chain», 13 January 2025
    • «ESG 2024 Activities», January 2025
• Governance topics
  • Ad hoc presentations
    • 2023 Remuneration Policy, April 2024
    • «Approach to Governance & Sustainability», June 2024

ANNEX G.6 UPDATING ON ESG JOURNEY ^G

	PERFORMANCE PAESI EU*						TOP 10 EUROPEA
POSIZIONE	PAESE	AVE ENDE	MEDIA	POSIZIONE		POSIZIONE	AZIENDA	PAESE	PUNTED
1	Finlandly	16	70.6	-		1	19003	=	95.3
2	Synzla	42	53,9	1		2	Poste Italiane	11	94.1
3	Italia	29	53,7	-		3	Snam	11	93,8
4	Austria	6	52,6	6		4	Enl	11	92,7
5	Germania	58	52,5	>		5	Sandvik	11	87,8
5	Spagna	18	51.2	1		6	Generall	11	853
7	Svizzera	45	49.7	-		7	Valmet	1	84,8
8	Norvegla	14	48,0	2		8	Givaudan	0	84.3
9	Regno Unito	109	47,5	1		9	Wartsills	1	84
10	Danimarca	18	45,7	>		10	Kasko	1	82,2
11	Olanda	25	44.0	4
12	Francia	65	43,0	6			BEST IMPROVER EU
13	Inanda	9	41,8	1			VONOVIA +18 2: WDB +15 4: IMI +14.9
14	Beiglo	14	40,6	>
15	Polonia	9	35,5	-
16	Turchla	6	33,6	-			BEST IMPROVER IT
17	Greela	6	32,7	-			INTERPUMP +9,5; POSTE ITALIANE +8,9; NEXI +6
	Webranking by Comprend			"sono state considerate per questa classifica i psexi europei con più di 4 adende inclusa ne	4			Edizione italiana a cura di Lun

IC 2024 . 37 / foglio 1 / 2	I Economia Settimanalo - Dir. Rosp .: Luciano Foutama Tiratura: N.D. Diffusione: N.D. Lettori: 1697000 (DS0001772)	DATA STAMPA 43º Anniversario
	COMENICAZIONE TERNA, POSTE E SNAM
	REGINE D'EUROPA E tutto italiano il podio delle società che offrono l'informazione online più trasparente. Lo dice l'indagine di Lundquist-Comprend,
	che analizza le 500 principali quotate del Continente. Ora una nuova prova: differenziarsi nel mare magnum delle rendicontazioni Esg
A completare la top 10 anche Eni e Generali. Ma non siamo il Paese più virtuoso in assoluto: davanti a noi ci sono Finlandia e Svezia di ANDREA BONAFEDE e aziende italiane si conferma- no al vertice della trasparenza nella comunicazione digitale. A stabilirlo è la Webraking 2024- 2025, l'indagine - giunta alla 28esima edizione - realizzata da Lundquist, in collaborazione con la società svedese Comprend, che valti- ta il livello di trasparenza dell'infor- mazione societaria online delle 500 principali imprese quotate europee. Le prime quattro posizioni sono in- fatti occupate da aziende italiane: si tratta di Terna (95,3, il punteggio massimo è 100}, Poste Italiane (94,1}, Snam (93,8) ed Eni (92,7). E se si ag- giunge il sesto posto di Generali (85,3), metà della top 10 è composta da società del nostro Paese. Inoltre, Mediobanca e Intesa Sanpaolo si af- fermano ai vertici del settore «Banks & Financial Services», mentre Am- plifon guida il settore «Healthcare». Tra le società italiane che si sono mi- gliorate di più figurano interpump (+9,5%), Poste Italiane (+6,9%) e Nexi (+6%) L'Italia si distingue con un punteg- gio medio di 53,7, superiore alla me- dia europea di 48,4, posizionandosi però «solo» terza tra l'Paesi del Con- tinente, dietro Finlandia e Svezia. Se da un lato, infatti, le primissime po-	sizioni siano occupate da imprese del nostro Paese, dall'altro ben 11 so- cietà si trovano nelle ultime 100 posi- zioni. «Questo succede perché, a dif- ferenza della Finlandia o della Svezia che hanno risultati più omogenei, la cultura della trasparenza non è così diffusa a livello di Paese, ma è più ca- ratteristica di alcune singole grandi aziende», spiega Joakim Lundquist, ceo di Lundquist e responsabile di Webranking. La fotografia Secondo l'indagine, le aziende ita- liane si distinguono in Europa per l'efficacia nella comunicazione ver- so i candidati e i dipendenti, e nel- l'ambito della sostenibilità. Mentre tra la sezione in cui le società del Vec- chio Continente, non solo quelle ita- liane, mostrano i risultati peggiori è quella relativa agli «Investor Rela- tors»: le aziende infatti faticano a mettere in evidenza le informazioni più rilevanti e a offrime una lettura completa, dalla strategia all'invest- ment case, dall'outlook finanziario al profilo del debito. La comunica» zione resta, infatti, ancorata a report e presentazioni per analisti, i cui contenuti non vengono velcolati al- l'interno del sito corporate: solo il 47% delle società incluse presenta un investment case, fondamentale per il mercato, mentre solo 11 32% presenta obiettivi finanziari concre- tamente misurabili. Tra i settori, a spiccare per virtuosi tà è il «Basic Resources» - con un punteggio di 57,7 la media europea è 48,4 -, malgrado nessuna delle sue	aziende figuri nella top 20 Europe. Seguono «Energia» (che avanza dal- la quarta posizione alla seconda) e «Telecomunicazioni». A far regi- strare i punteggi complessivi più bassi sono i comparti di «Retail», «Vlaggi», «Media» e «Real Estate». Le sfide L'indagine mette inoltre evidenza i grandi cambiamenti a cui sta andan- do incontro la comunicazione azien- dale. A partire dal fattore sostenibili- tà. La Direttiva Csrd dell'Unione eu- ropea, infatti, estenderà - dal bilanci del 2024 - l'obbligo di rendicontazio- ne Esg a una vasta platea di aziende, spingendole verso una trattazione sempre più tecnica e omogenea. In questo contesto, il ruolo di una co- municazione credibile, distintiva e rivolta a tutti gli stakcholder diventa una leva competitiva per qualsiasi azienda. «La "compliance" rischia di standardizzare la comunicazione della trasparenza - sostiene Lun- dquist -. Le imprese devono diffe- renziarsi dalla concorrenza, ma per riuscirci dovranno pensare a una co- municazione strategica. In questo senso, tutti i "touchpoint" digitali possono riaffermarsi come stru-

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The Manager in charge of preparing the company's financial reports declares - pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance - that the accounting information contained in this presentation corresponds to the document results, books and accounting records.

S.Ilario d'Enza, 14 February 2025

Mauro Barani