FINANCIAL PRESENTATION

Sabaf | ⁷ th October 2025

EQUITA CONFERENCE 2025

I. COMPANY PROFILE
II. LATEST STRATEGIC MOVES
III. FINANCIAL PERFORMANCE
IV. SUSTAINABILITY

COMPANY PROFILE

Sabaf Group: product range evolution in 4 Business Units

SINCE 2000, further expansion since 2019 SINCE 2022

HINGES

Ovens
Dishwashers
Washing machines
Refrigerators
Special applications
Small compartments
Catering appliances

Sabaf Group: evolution

5 acquisitions in the last 8 years 3 greenfield plants in the last 3 years

Sabaf Group: leading producer of components for household appliances and company evolution in 4 Business Units

Sabaf Group: industrial footprint

2018: 7 production plants
2024: 15 production plants (6 in Italy and 9 abroad)

SABAF TURKEY (2 PLANTS) (296 employees) Burners, valves, hinges and Electronics

OKIDA ELEKTRONIK (198 employees) Electronics for household appliances

SABAF APPLIANCE COMPONENTS (KUNSHAN) (8 employees) Wok burners

SABAF INDIA (43 employees) Valves and burners

SABAF S.P.A. (537 employees) Valves and thermostats Standard burners Special burners ARC S.R.L. (20 employees) Professional burners FARINGOSI-HINGES S.R.L. (46 employees) Oven hinges Dishwasher hinges CMI ITALY (2 PLANTS) (136 employees) Oven hinges Dishwasher hinges PGA (40 employees) Electronics for household appliances SABAF MEXICO (84 employees) MANSFIELD (183 employees) Oven hinges Washing machines hinges Refrigerators hinges

Burners

CMI POLAND (75 employees) Dishwasher hinges

SABAF BRASIL (116 employees) Standard burners Special burners

Why investing in Sabaf Strategy for value creation

Sabaf Group Main shareholders

Market Cinzia Saleri S.a.p.A. Quaestio SGR Paloma Rheem Investments Fintel S.r.l. Treasury Shares

Pietro Iotti, Sabaf CEO, owns 2.24% of voting rights

LATEST STRATEGIC MOVES

Latest strategic moves

Sabaf India

Sales start	2Q 2023
Investment	€ 6.4 mln
Division	Gas: production of valves and burners for the domestic market
Production capacity	€ 6 mln (scalable)

Market characterized by:

strong growth
customization
competitive price requests

12M 2024: revenues € 2.3 mln 2025: sales growth (+20%)

Further growth expected in 2026

Sabaf Mexico

emarket sdir scorage
CERTIFIED

Sales start	1H 2024
Investment	€ 14 mln
Division	Gas: production of burners for NA market
Production capacity	€ 13 mln (scalable)

May 2024: start of sales to Mabe July 2024: start of sales to Whirlpool

Fast production ramp-up, working on 3 shifts

12M 2024: revenues € 3 mln

Forecast 2025: revenues € 7.5 mln

Further growth expected in 2026: € 12 mln (+60%)

MEC is a leading North American manufacturer of hinges for household appliances (mainly ovens, washing machines and refrigerators), designed and manufactured to meet the high-quality levels and demanding standards required by the US market

Smooth transition from previous ownership to the management
Visible synergies, for which implementation is ongoing, even thanks to very positive relationships with local management
Ongoing automation in order to improve productivity

MEC is delivering strong results with growing profitability

Despite market weakness, profitability is steadily improving and strategic opportunities are emerging, supported by the US manufacturing footprint

Further growth expected in 2026: relevant additional sales from new projects with major multinational groups

Sabaf Induction

Project start	2021
Sales start	1H 2024
Investment	About € 7.6 mln in R&D in the period 2021 – 2025

Sabaf has developed its own project know-how (proprietary patents, software and hardware) Creation of innovative products which better meet manufacturers' needs and new consumer trends.

The main development phase has been completed, enabling product certification and market lunch of a wide range. Ongoing engineering of other innovative features

As of 2024, we have started supplying a major multinational group and two smaller-scale customers Additional clients are gradually entering the start-up phase

FINANCIAL PERFORMANCE

Context analysis and Sabaf positioning

Market

Competitors

Tariffs

Greater penetration of Turkish and Chinese players in the European market through M&A deals and takeovers of European companies (i.e. Candy, Whirlpool Europe, Gorenje, Teka)

The last 2 years highlighted the difficulty of some competitors, which could open opportunities for M&A and allow us to gain market shares

The first economic policy measures taken by the new US administration have created international tensions, whose effects are still uncertain

Direct manufacturing presence in the USA (MEC in Ohio)
Sabaf Mexico's production is mainly intended for manufacturers in the Mexican territory
FCA delivery terms for customers

The geographical diversification of Sabaf's industrial footprint mitigates the risks associated with tariffs/trade barriers, thanks to the presence of production plants in all key reference markets

2025 | Market trends

Europe

Slightly weaker market, with increased competitive pressure
Consumers shifted to lower price points driven by geopolitical and economic uncertainty

North America

Inflation concerns related to tariffs, weighed on consumer confidence
High promotional activity
Preference for lower price points

Quarterly industry shipments in U.S.

Source: Electrolux 2Q 2025 presentation

Latin America: market demand slightly positive
Asia: consumer demand is estimated to have increased y-o-y
Middle East and Africa affected by the geopolitical picture

Quarterly industry shipments in Europe

Sabaf Group | Sales and profitability trend¹

Mln €

Sabaf Group confirms its ability to deliver positive results even in a complex macroeconomic phase :

unfavorable exchange rate trends
international economic uncertainty linked to the application of tariffs
geopolitical risks

Sequential improvement in profitability and highest level of margins in the last 4 quarters

Sabaf Mexico and India ramp-up
MEC positive performance
TRY devaluation offsetting the impact of salary increases in Turkey

¹Adjusted results, which exclude the impact of the application of IAS 29 (Financial Reporting in Hyperinflationary Economies) and, only for 2023 data, the start-up costs of Sabaf India, Sabaf Mexico and the Induction division. This representation allows a better understanding of the Group's performance and of its comparison with previous periods.

Adjusted income statement¹ – 6 months 2025

€ x 000	6 MONTHS 2025		6 MONTH 2024		Δ % 6M 25 - 6M 24
Revenue	145,738		100% 143,111	100%	+1.8%	276,965	100%
Other income	5,506	3.8%	4,599	3.2%		10,739	3.9%
Total operating revenue and income	151,244		147,710			287,704

Consumption	(66,100)	(45.4%)	(65,501)	(45.8%)		(129,391)	(46.7%)
Personnel costs	(37,608)	(25.8%)	(34,507)	(24.1%)		(69,225)	(25.0%)
Other operating costs	(26,209)	(18.0%)	(24,762)	(17.3%)		(48,690)	(17.6%)
EBITDA	21,327		14.6% 22,940	16.0%	-7.0%	40,398	14.6%
Depreciation	(10,166)	(7.0%)	(9,538)	(6.7%)		(19,089)	(6.9%)
Gain/losses on fixed assets	1 3	0.0%	9 9	0.1%		1	0.0%
Write-downs/write-backs of non-current assets	(109)	(0.1%)	(8)	(0.0%)		(106)	(0.0%)
EBIT	11,065		7.6% 13,493	9.4%	-18.0%	21,204	7.7%

Non financial expense	(4,388)	(3.0%)	(698)	(0.5%)		(2,278)	(0.8%)
Exchange rate gains and losses	1,622	1.1%	843	0.6%		1,351	0.5%
EBT	8,299		5.7% 13,638	9.5%	-39.1%	20,277	7.3%

Income taxes	(732)	(0.5%)	(3,031)	(2.1%)		(3,354)	(1.2%)
NET PROFIT FOR THE PERIOD	7,567		5.2% 10,607	7.4%	-28.7%	16,923	6.1%
Minority interests	869	0.6%	465	0.3%		965	0.3%
PROFIT ATTRIBUTABLE TO THE GROUP	6,698		4.6% 10,142	7.1%	-34.0%	15,958	5.8%

In view of the positive performance of MEC, the value of the put option granted to the minority shareholders for the 49% stake was adjusted as at 30 June 2025.

The related financial liability (now €12.9 mln) increased by €1.4 mln, resulting from the net effect of

financial expenses (€2.9 mln)
foreign exchange gains (€1.5 mln. )

¹Adjusted income statement: results exclude the impact of the application of IAS 29 (Financial Reporting in Hyperinflationary Economies) This representation allows a better understanding of the Group's performance and of its comparison with previous periods.

Adjusted sales by market

€ x 000

	6 MONTHS 2025	6 MONTHS 2024	∆
Europe (excluding Turkey)	42,446	41,492	+2 3%
Turkey	36,229	36,853	7% -1
North America	33,187	30,437	0% +9
South America	18,350	17,620	1% +4
Africa and Middle East	6,686	9,236	-27 6%
Asia and Oceania	8,840	7,473	+18 3%
Total	145,738	143,111	8% +1

Adjusted sales by product

€ x 000

	6 MONTHS 2025	6 MONTHS 2024	∆
Gas parts	86,300	84,754	+1 8%
Hinges	46,930	43,932	8% +6
Electronic components	12,390	14,194	7% -12
Induction	118	231	9% -48
Total	145,738	143,111	8% +1

Balance Sheet - Reported

emarket sdir scorage
CERTIFIED

€ x 000	30/06/2025	31/12/2024	30/06/2024
Fixed assets
	171,120	177,663	181,619
Inventories	65.336	63.132	65,624
Trade receivables	69,631	64.837	71,105
Tax receivables	9.082	9.909	8.663
Other current receivables	3,596	4,322	4,533
Trade payables	(51,212)	(41,681)	(51,034)
Tax payables	(4,296)	(4,794)	(3,497)
Other payables	(19,150)	(17,478)	(18,682)
Net working capital	72,987	78,247	76,712
Provisions for risks and severance indemnity	(8,558)	(8,285)	(9,278)
Capital Employed	235,549	247.625	249,053
Equity Net debt	156,132 79.417	173,744 73,881	174,290 74.763
Sources of finance	235,549	247,625	249,053

At 30 June 2025, the impact of the net working capital on revenue was 25.5% compared to 26.5% at 30 June 2024 and 27.4% at the end of 2024

Net financial debt at 30 June 2024 was €79.4 mln (€73.9 mln at 31 December 2024) and includes

€12.9 mln related to the recognition of the put option granted to MEC minorities
and the financial liabilities of €6 mln recognised in accordance with IFRS 16

Cash flow statement

€ x 000	6 MONTHS 2025	12 MONTHS 2024	6 MONTHS 2024
Cash at the beginning of the period	30,641	36,353	36,353
Net profit	6,108	7,893	8,828
Depreciation	12,309	22,932	11,327
Other income statement adjustments	2,942	11,936	3,704
Change in net working capital
- Change in inventories	(6 099) ,	(3 520) ,	(4 813) ,
- Change in receivables	(6 230) ,	(9 745) ,	(15 745) ,
- Change in payables	9 972 ,	(484)	8 730 ,
	(2,357)	(13,749)	(11,828)
Other changes in operating items	685	(1,979)	1,662
Operating cash flow	19,687	27,033	13,693
Investments, net of disposals	(12,130)	(14,706)	(6,152)
Free Cash Flow	7,557	12,327	7,541
Cash flow from financial activity Own shares buyback	6,751 (1,262)	(7,899) (211)	(10,545) -
Dividends	(7,534)	(8,663)	(7,229)
Forex	(2,483)	(1,266)	(575)
Net financial flow	3,029	(5,712)	(10,808)
Cash at the end of the period	33,670	30,641	25,545

Capex: aimed at Group organic growth through internationalisation and product innovation, optimising efficiency and automation of production processes. Investments of the period include:

the fourth die-casting island at the Mexican plant
the construction of a 2.5 MW solar power plant
the replacement of the current die- casting waste treatment system at the Ospitaletto plant with a chemical-physical system
→ FY guidance is confirmed at € 18 mln

Dividends: on 28 May 2025 a gross ordinary dividend of €0.58 per share was distributed

Outlook

The Group's current order backlog shows a slightly positive sales trend for the current financial year

In the second half of the year, demand is expected to be stable, with volumes below historical averages, affected by the critical international political and macroeconomic scenario

Expected contribution for 2026 from the launch of new products around 3% of sales

External Growth: the M&A team is constantly exploring new opportunities for external growth

SUSTAINABILITY

Solar power plant

Total CapEx: approximately €2.3 mln
Will enable the production of electricity using solar photovoltaic technology, significantly contributing to the goal of climate change mitigation
Allows self-production of an estimated amount equal to 10-15% of the site's current energy consumption
Emissions reduction: ~ 10-15% (Scope 2 emissions from purchased and consumed electricity)
Saving: ~ € 0.5 mln / year
The solar power plant was completed in June ²⁰²⁵

Sabaf: a sustainable business

Sustainability in the Business plan 2024 - 2026

Sabaf's strategy and governance model are aimed towards ensuring long-term sustainable growth. For Sabaf, sustainability is primarily based on sharing values with its stakeholders; compliance with common values increases mutual trust and encourages knowledge development " "

ESG Performance - Corporate Governance Remuneration policy

▪ Fully in line with best practices and Corporate Governance Code

MATERIAL TOPIC	KPI	% ON LTI
Emissions into the atmosphere	Implementation of the ESG investment plan (1,500 t CO 2 reduction)	10%
Development of resources and skills	Hours of training per capita	5%
Health and safety of personnel	Indicator of injuries	5%
Impact of on LTI plan		20%

Environmental impact of different cooking fuels 1/3

About 30% of people on our planet, i.e. 2.5 billion people, are still relies on solid biomass fuels for cooking (wood, charcoal, animal dung, crop residues)

This population is mainly concentrated in Sub-Saharan Africa, where the unavailability of clean fuels affects 82% of the population, but significant percentages characterize also Central Asia, India, China, South-East Asia and Latin America

In addition to being harmful to the environment, the pollution produced by traditional fuels has important consequences on the health of users and families

5.5 billion people use fossil fuels (mainly natural gas and LPG) or electricity for cooking

Environmental impact of different cooking fuels 2/3

Environmental impact of different cooking fuels¹

scientific standard method (the ReCiPE 2016), which is based on 3 impact categories: • damage to human health

The environmental impact was measured using a

damage to ecosystem quality
damage to resource availability

The environmental impact was highest in the case of coal cooking appliances (112) and lowest for LPG and methane cooking appliances (5 and 5.2 respectively).

Electric cooking appliances, with an impact of 9, highlighted an environmental impact equal to 180% of that deriving from gas hobs

Cooking through a gas hob instead of using firewood as cooking fuel, reduces the environmental impact by 80%

1 https://www.itjfs.com/index.php/ijfs/article/view/2170

Italian Journal of Food Science, 2022 – Environmental impact of the main household cooking systems – A survey, 2022 Alessio Cimini and Mauro Moresi, Università della Tuscia

Environmental impact of different cooking fuels 3/3

Promote access to energy sources with lower impact for the population that still uses solid fuels

Favor electric cooking only where and when the energy production mix is characterized by a predominant component of green energy

An induction hob causes lower CO² emissions than a gas hob only if the electricity is produced with a % of renewable sources (and/or nuclear energy) higher than 70%

The Sabaf Group pursue a business development path consistent with the ecological transition plans:

Sabaf is investing to promote diffusion of gas cooking appliances in emerging countries, replacing traditional cooking methods with much higher environmental impact
At the same time, Sabaf is investing to enter the sector of induction cooking, the most efficient form of electric cooking, which is constantly growing in the European market, although such trend has slowed down in the last 3 years

A possible revolution - Hydrogen burners

The Sabaf Group actively takes part in research projects aimed at evaluating the feasibility of replacing natural gas (methane) with hydrogen as a source for gas cooking appliances

Burners operating with 100% hydrogen: laboratory tests and prototypes have confirmed the technical feasibility of these products

The possibility to use hydrogen on a large scale as a fuel has still to overcome important technological challenges, both in terms of its production and distribution

A possible solution in a relatively short time is the use of a mix of methane and hydrogen, through the existing distribution network

Hy4Heat project, promoted by the British government, concluded in 2022 with positive results

Pilot project in collaboration with the Colombian client Industrias Haceb → European Union Sustainability certification LCBA (Low Carbon and Circular Economy Business Action)

Diversity and inclusion

Board of Directors composition Board of Statutory Auditors composition	Gender Female Male Total	2024 Number 5 4 9	% 56% 44% 100%
			2024
Employees gender distribution	Gender	Number	%
	Female	623	40%
	Male	947	60%
	Total	1,570	100%

ATTACHMENTS

Income statement reconciliation reported – adjusted¹ - 6 months 2025

€ x 000	6 MONTHS 2025		6 MONTHS 2024		Δ % 6M25 - 6M24
Revenue	143,000	100.0%	144,677	100.0%	2% -1
Hyperinflation - Turkey	2,738		(1,566)
Adjusted revenue	145,738	100.0%	143,111	100.0%	8% +1

EBITDA	20,237	14.2%	23,674	16.4%	5% -14
Hyperinflation - Turkey	1,090		(734)
Adjusted EBITDA	21,327	14.6%	22,940	16.0%	0% -7

EBIT	7,832	5.5%	12,394	8.6%	8% -36
Hyperinflation - Turkey	3,233		1,099
Adjusted EBIT	11,065	7.6%	13,493	9.4%	0% -18

Net result	5,239	3.7%	8,363	5.8%	-37 4%
Hyperinflation - Turkey	1,459		1,779
Adjusted Net result	6,698	4.6%	10,142	7.1%	0% -34

Adjusted results

Reported results

DISCLAIMER

Certain information included in this document is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially.

The Company's business is in the domestic appliance industry and its outlook is predominantly based on its interpretation of what it considers to be the key economic factors affecting this business. Forward-looking statements with regard to the Group's business involve a number of important factors that are subject to change, including: the many interrelated factors that affect consumer confidence and worldwide demand for durable goods; general economic conditions in the Group's markets; actions of competitors; commodity prices; interest rates and currency exchange rates; political and civil unrest; and other risks and uncertainties.

Pursuant to Article 154/2, paragraph 2 of the Italian Consolidated Finance Act (Testo Unico della Finanza), the company's Financial Reporting Officer Gianluca Beschi declares that the financial disclosure contained in this financial presentation corresponds to the company's records, books and accounting entries.

For further information, please contact

Gianluca Beschi [email protected] Elena Gironi [email protected]

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