Valsoia — Earnings Release 2026

May 11, 2026

VALSOIA

INFO GOVERNMENT INFOR

PRESS RELEASE

THE BOARD OF DIRECTORS APPROVES THE ADDITIONAL PERIODIC INFORMATION REFERRED TO THE 1ST QUARTER OF 2026

MAIN RESULTS OF THE PARENT COMPANY VALSOIA S.P.A. AS OF MARCH 31, 2026:

• TOTAL SALES REVENUES AT 24.7 MILLION EUROS (+2.2% YoY)
• STABLE SALES IN ITALY (+0.3% YoY) | STRONG GROWTH IN FOREIGN SALES (+23.1% YoY)
• NET FINANCIAL POSITION (CASH POSITIVE) OF 11.5 MILLION EUROS

MAIN CONSOLIDATED RESULTS AS OF MARCH 31, 2026¹:

• TOTAL SALES REVENUES OF 26.2 MILLION EUROS
• NET FINANCIAL POSITION (CASH POSITIVE) OF 10.6 MILLION EUROS

THE SIXTH SUSTAINABILITY REPORT HAS BEEN PUBLISHED

Bologna, 11 May 2026 - On today's date, the Board of Directors of Valsoia S.p.A. (EXM: VLS) met and it approved the additional periodic information as of March 31, 2026.

Chairman Lorenzo Sassoli de Bianchi commented: "In this first quarter, the Company recorded revenues growth of 2.2%, confirming the strength of our Brands in the food sector. We are particularly pleased with the performance in foreign markets, which continue to grow at a rate of more than 20% on a like-for-like basis, with positive results in all the countries where we operate. This performance does not yet include the contribution of the recent acquisition of Krepko, the Slovenian leader in the kefir market, which nevertheless recorded growth during the period.

Sales in Italy, however, are stable, in a more complex environment characterized by declining consumer confidence and inflation concerns. In this context, we have decisively continued to invest in communications and consumer marketing, as well as in innovation projects not limited to products, always with the goal of strengthening the value of our Brands and the solidity of our Company. We will continue along this path in the coming quarters, while maintaining careful cost management.

The expansion of the Serravalle Sesia plant is progressing according to plan, with production expected to begin in the second half of the year and full operation by early 2027. This is a strategic investment that will strengthen our efficiency, flexibility, and capacity for innovation.

Profitability remains a key focus, in a still uncertain national and international context: we will continue to monitor the evolution of the scenario, ready to take all necessary actions to protect the Company's profitability.

Finally, we published the sixth edition of our sustainability report, which confirms our commitment to responsible growth, with particular attention to the development of our people and talents, a key element for the future of the Company".

¹ The first quarter of 2026 represents the first reporting period in which the Company approved additional periodic information on a consolidated basis, following the acquisition of 70% of the share capital of the Slovenian company Kele&Kele d.o.o., which took place in December 2025. For this reason, consolidated economic data are not compared with the same period of the previous financial year.

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VALSOIA

PRESS RELEASE

MAIN RESULTS OF THE PARENT COMPANY VALSOIA S.P.A. AS OF MARCH 31, 2026

| Economic Indicators
(Thousands of Euros) | 31.03.2026 | 31.03.2025 | Change | |
| --- | --- | --- | --- | --- |
| | Euro | Euro | Euro | % |
| Total Sales Revenues | 24,717 | 24,184 | +533 | +2.2% |

In the first quarter of 2026, the Parent Company Valsoia S.p.A. recorded Sales Revenues of 24.7 million Euros compared to 24.2 million Euros in the same period of 2025. The increase, equal to +2.2%, is attributable, in particular, to the excellent performance of foreign sales (+23.1%), which continued their positive trend, while revenues in the domestic market remained stable (+0.3%).

The Net Financial Position (NFP) of the Parent Company Valsoia S.p.A., as of March 31, 2026, was positive at 11.5 million Euros compared to 17.0 million Euros as of December 31, 2025. Net of the effect of the application of IFRS 16 as of March 31, 2026, the NFP was 13.0 million Euros. The decrease in the Company's Net Financial Position is attributable to the ongoing investment in expanding the production plant and to the recent acquisition of control shares in the Slovenian company, owner of the brand "Krepko".

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MAIN CONSOLIDATED RESULTS OF THE VALSOIA GROUP AS OF MARCH 31, 2026

| Economic Indicators
(Thousands of Euros) | 31.03.2026 |
| --- | --- |
| | Euro |
| Total Sales Revenues | 26,230 |

In the first quarter of 2026, the Valsoia Group recorded Sales Revenues of 26.2 million Euros. The newly acquired "Krepko" brand, the leading traditional kefir brand in Slovenia, enjoyed a positive start of the year.

The Consolidated Net Financial Position (NFP) of the Valsoia Group, as of March 31, 2026, is positive by 10.6 million Euros compared to 16.1 million Euros as of December 31, 2025. Net of the effect of the application of IFRS 16 as of March 31, 2026, the same NFP is equal to 12.1 million Euros.

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During the quarter, the Company continued its investments in communications and consumer marketing, as well as industrial and organizational investments; the marketing and innovation activities envisaged in the plans for the middle of the year were implemented.

In particular, the market launch of the innovative "cornetto zero", the first plant-based ice-cream cone with zero added sugar, was a success. The completion of the new Serravalle Sesia plant, which will gradually become operational starting in the second half of the year, is on track.

The Company remains strongly committed to managing the costs of its products and services, ready to face the unexpected difficulties arising from the challenging international situation.

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MAIN EVENTS AFTER THE END OF THE 1ST QUARTER 2026

The growth of sales abroad continued in April, while a slowdown in the ordinate with regard to domestic sales is evident.

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VALSOIA

PRESS RELEASE

Investments in communication continued and will intensify during the middle of the year across all proprietary Brands, particularly ice cream, along with preparations for several strategic launches in the plant-based yogurt market.

The sixth voluntary sustainability report for the 2025 financial year was published following the Shareholders' Meeting held on last April 23.

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DELEGATION OF POWERS TO START THE TREASURY SHARE PURCHASE PROGRAM

The Board of Directors, following the authorization approved by the Shareholders' Meeting of April 23, 2026, has authorized the Chairman and/or the Chief Executive Officer, separately, to execute the purchase of Company shares, including in multiple tranches, for a maximum of 200,000 shares and up to a maximum amount of Euros 2,500,000.00, under the terms and conditions approved by the Shareholders' Meeting.

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The manager responsible for preparing the Company's accounting documents, Mr. Nicola Mastacchi, declares pursuant to paragraph 2 of article 154 bis of the Consolidated Law on Finance that the accounting information contained in this press release corresponds to the documentary evidence, books and accounting records.

For further information, please refer to the documentation published on our website: www.valsoiaspa.com, in the "Investor Relations" section.

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Valsoia S.p.A. (www.valsoiaspa.com) founded in 1990, was a "pioneer" in the development of the Italian market of alternative vegetable products. Today it is a reference company in the health food market in Italy and has expanded its product portfolio to include traditional food brands. The Valsoia brand "Bontà e Salute" represents, for the consumer, innovation and attention to health through good, natural and healthy products. Since July 14, 2006, Valsoia S.p.A. has been listed on the Euronext Milan market organized and managed by Borsa Italiana S.p.A.

For further information
Valsoia S.p.A.
Nicola Mastacchi	Tel. +39 051 6086800
CDR Communication
Silvia Di Rosa – Investor Relations	Cell +39 335 78 64209
Eleonora Nicolini – Investor Relations	Cell +39 333 9773749
Martina Zuccherini – Media Relations	Cell +39 339 43 45708