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1H2026 Results 31 July 2026
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2 Executive Summary CIR Group Consolidated Results KOS and Sogefi Group ESG strategy CIR Holding
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3 Group structure and strategy 100% 60.0% F.lli De Benedetti S.p.A. (1) 63.2% voting rights 44.4%(1) Liquid assets, Private Equity Portfolio Global automotive supplier of suspensions, and air intake & cooling engine components Leadership positions in verticals in core geographies (Europe, North and South America) Healthcare group specialized in Long Term Care (Nursing Homes, Rehabilitation, Psychiatry) Leader in Italian Long Term Care, developing presence in German Nursing Homes Private Equity & liquid assets All % as of June 30, 2026, calculated net of treasury shares (equal to 9.7% of the share capital of CIR) Competitive position Businesses Strategy ➢ Focus on Long Term Care ➢ Geographical diversification (Italy, Germany) ➢ Growth through greenfields and acquisitions ➢ Focus on core geographies, diversification in high growth regions (India, China) ➢ Focus on high value added products within core portfolio ➢ Development of new powertrain electrification technologies and customers Optimise risk-return of Holdco cash by investing in a portfolio of diversified and mostly liquid assets, readily monetisable for strategic investments
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4 1H 2026 Highlights Consolidated Financial results ▪ KOS +4,3% vs 1H 2025 ▪ Sogefi -0,5% vs 2025; +0,4% at constant exchange rates ▪ Improvement of KOS (+€ 8,7M vs +€ 4,7M) ▪ Sogefi flat at +€ 10,5M ▪ CIR HoldCo also stable (-€ 1,3M vs -€ 1,5M) ▪ Reduction of Consolidated NFP (-€ 244,6M) is mainly due to the acquisition of 40% stake in KOS (-€ 227,2M), to the buyback by CIR (-€ 25,4M), as well as to dividends to minorities (-€ 13,5M) Sales: +1,7% vs 1H 2025 Net result(1): +€ 18,6M (vs +€ 14,5 in 1H 2025) NFP(2): - € 24,7 M vs. +€ 220,4M at Dec 2025 Outlook ➢ KOS has further room for incremental increases of Nursing Homes occupancy in Italy and Germany, as well as for tariff adjustments, mainly in Germany, where a further improvement of operating results is expected from the turnaround of certain specific underperforming units. Overall, KOS expects to consolidate the strong net result improvement recorded in 2025 over 2024 ➢ Sogefi expects a low-single-digit decline in revenues for the FY 2026 and, absent unforeseeable events and excluding the impact of tariffs, an adjusted EBIT margin substantially in line with 2025 (1) Net of third parties (2) Excluding IFRS16
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5 Significant events occurred in 1H2026 ➢ On 29 January 2026, CIR (through its 100% controlled subsidiary CIR Investimenti S.p.A.) completed the acquisition of the 40,23% stake in KOS S.p.A.held by F2i Healthcare S.p.A., pursuant to the binding agreement signed on 19 November 2025 ➢ The consideration for the purchase of the shares amounted to € 220 million, while an earn-out and an anti- embarassment clause remain applicable pursuant to the Share Purchase Agreement ➢ The transaction was financed using part of the available liquid assets held by CIR and CIR Investimenti ➢ Following the completion of the transaction, CIR (directly and through CIR Investimenti) holds 100% of the share capital of KOS S.p.A. ➢ On June 1st, 2026 CIR completed a voluntary partial tender offer on the Euronext Milan stock exchange, by buying 32.2 million own shares (3.5% of share capital) at a unit price of € 0,70 ➢ In 1H 2026, including purchases made prior to the tender offer, CIR invested a total amount of € 25,4M in share buybacks ➢ On August 1st, 2026 a new buyback program will start, with daily purchases on the Euronext Milan stock exchange Acquisition of 100% of the KOS Group Tender Offer on CIR own shares and buyback
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6 Executive Summary CIR Group Consolidated Results KOS and Sogefi Group ESG strategy CIR Holding
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€/M Revenues 898,4 913,5 % change vs 2024 1,7% EBITDA 139,7 142,1 % on revenues 15,5% 15,6% EBIT 57,0 57,5 % on revenues 6,3% 6,3% Financial result (18,3) (14,5) Taxes (12,9) (16,4) Third party result (12,1) (8,7) Net result from continuing operations 13,7 17,9 Assets held for sale 0,8 0,7 Group net result 14,5 18,6 1H 2025 1H 2026 7 CIR Group Consolidated P&L (1) «Other» includes effect of Argentina Hyperinflation on interests (-1,6M in 1H 2025; -0,3M in 1H 2026); (2) Pro-rata share of net result Revenues 1H 2025 1H 2026 Var % KOS - Italy 270,7 279,0 3,1% KOS - Germany 132,9 142,0 6,8% KOS - total 403,6 421,0 4,3% SOGEFI 494,8 492,5 -0,5% GROUP revenues 898,4 913,5 1,7% Financial result 1H 2025 1H 2026 Cost of financing (9,5) (8,2) IFRS16 accounting (11,8) (11,9) HoldCo financial assets 3,8 6,0 Other(1) (0,8) (0,4) GROUP financial result (18,3) (14,5) Contribution to Net Result KOS 4,7 8,7 Sogefi(2) 10,5 10,5 Total core businesses 15,2 19,2 CIR Holding (1,5) (1,3) Net result from continuing operations 13,7 17,9 KOS 0,0 0,0 Sogefi(2) 0,8 0,7 CIR Holding 0,0 0,0 Assets held for sale 0,8 0,7 GROUP NET RESULT 14,5 18,6 1H 2025 1H 2026€/M
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8 CIR Group Financial Indebtedness ➢ KOS: net debt increase of € 55,9M in 1H 2026, mainly due to dividend payment (€ 55,8M), as well as development capex and NWC seasonality ➢ Sogefi: net debt decrease of € 10,9M, despite NWC seasonality ➢ CIR: financial assets decrease of € 200M, mainly due to KOS acquisition (1) Including € 0,4M positive NFP related to minor non operating subsidiaries; (2) Excluding € 0,4M intercompany IFRS16 debt (office rental from CIR); (3) Acquisition price by CIR € 2220M; also includes deal costs and Tobin tax, as well as € 5,8M cash out by KOS for Stock Option exercise KOS: -€ 3,9M capex for greenfields Sogefi: -€ 3,2M development capex Operating Cash Flow: Funds from Operations (EBITDA, interest, taxes and derivatives FV for Sogefi) +/- Δ NWC - ordinary capex (3) KOS: dividends to CIR (-€45,1M) and F2i/minorities (-€10,7M) Sogefi: dividends to/cap. increase from minorities (-€ 2,4M) CIR: buyback (-€ 25,4M); dividends from KOS (+€45,1M) €/M 31 Dec 2025 30 June 2026 KOS Group (123,1) (179,0) Sogefi Group (19,2) (8,3) Subsidiaries(1) (141,9) (187,0) CIR holding 362,3 162,3 Group NFP 220,4 (24,7) €/M 31 Dec 2025 30 June 2026 KOS Group (865,5) (901,8) Sogefi Group(2) (56,0) (50,8) Subsidiaries(1) (921,1) (952,3) CIR holding 362,3 162,2 Group NFP (558,8) (790,1) NFP Excluding IFRS16 NFP Including IFRS16 €/M Funds from operations NWC Ordinary capex Operating CF KOS 24,0 (4,0) (10,4) 9,6 Sogefi 50,1 (13,7) (19,9) 16,5 CIR 1,6 1,6 Total 75,7 (17,7) (30,3) 27,7
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9 Executive Summary CIR Group Consolidated Results KOS and Sogefi Group ESG strategy CIR Holding
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€/M 31 Dec 2025 30 June 2026 KOS 221,8 318,2 Sogefi 166,9 183,5 Total operating companies 388,7 501,7 Fixed assets 4,7 4,6 Private equity 56,8 56,5 Other investments 0,5 0,5 Other Assets (Liabilities) (13,4) (13,9) Assets held for sale 0,0 0,0 Net cash 362,3 162,2 Total CIR holding level 410,9 209,9 Total CIR Group shareholders'equity 799,6 711,6 Shareholder's equity per share 0,87 0,78 " net of tresury shares (1) 0,93 0,86 Book value 10 CIR Holding Balance Sheet (1) Ordinary shares: 916.059.948 on 31/12/2025 and 916.059.948 on 30/06/2026; Treasury shares: 52.761.150 on 31/12/2025 and 88.741.152 on 30/06/2026 (after public tender offer) (1) Operating costs, taxes, working capital etc. (2) Performance of liquid assets / Hedge Funds (Fair value + income + trading) (3) Private Equity net investments and Cash in related to redemptions (4) Dividends from KOS (5) Excluding IFRS16 ➢ Diversified portfolio of private equity funds, direct minority private equity and Other investments in non-strategic direct minority stakes ➢ The portfolio has reached its maturity/reimbursement phase, as limited investments were added in the recent past €/M 31 Dec 2025 New In- vestments Cash In Fair value / fees 30 June 2026 Private Equity 56,8 1,1 (2,0) 0,6 56,5 Other investments 0,5 0,0 0,0 0,5
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11 CIR Holding P&L (1) CIR S.p.A. and CIR Investimenti S.p.A. (italy) Income from Fixed Income, Hedge Funds and Private Equity portfolios higher than in 2025, despite decrease of financial assets managed, due to KOS acquisition €/M Income from Financial Assets 3,8 6,0 CIR Holding(1) Recurring costs (5,5) (5,4) CIR Holding Non Recurring costs (0,2) (1,3) Taxes 0,4 (0,6) Net result from continuing operations (1,5) (1,3) Assets held for sale 0,0 0,0 Net result (1,5) (1,3) 1H 2025 1H 2026 Mainly deal costs related to KOS acquisition
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12 Executive Summary CIR Group Consolidated Results KOS and Sogefi Group ESG strategy CIR Holding
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13 KOS - a leader in LTC with a consistent growth track record Long Term Care Rehabilitation & Psychiatry (Italy) 32 facilities Acute Care 1 Hospital – 218 beds // Nursing Homes (Italy) 56 facilities Nursing Homes (Germany) 54 facilities 7.764 8.157 12.133 12.686 Greenfield pipeline: +450(1) 13.151 13.518 13.753 1) Of which 180 beds in Germany (2 Nursing Homes) and 270 in Italy (2 Nursing Homes) 13.777 13.722 13.762 3.844
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14 KOS - Summary of 1H 2026 results and outlook KOS 1H 2026 results ➢ Revenues +4,3% vs. 1H 2025: ✓ In Italian NHs revenues grew 4,8%, with occupancy up by 0,6 p.p., average tariffs +3,5% and thanks to the development of home care services ✓ In German NHs revenues grew 6,8%, with occupancy up by 1 p.p. in the like-for- like perimeter, average tariffs +5,4% and thanks to the ramp up of a new startup home ✓ Rehab, Psychiatric and Acute care continued to operate at full activity level and revenues were almost flat vs. last year, as the increase of public tariffs was finally announced, but not implemented in 1H yet ➢ EBITDA and EBIT grew vs. prior year, thanks to the contribution of Nursing Homes in Italy and Germany, while other units were overall flat vs. 1H 2025 ➢ Net debt ante IFRS16 shows an increase of € 55,9M in 1H 2026, mainly due to dividend payment (€ 55,8M), as well as the cash out for Stock Option exercise (€ 5,8M) development capex (€ 3,9M), NWC seasonality absorption (€ 4,0M) 2026 Outlook ➢ KOS expects to consolidate the significant improvements of 2025 results over 2024 ➢ Further room for improvement of Nursing Homes occupancy exists in certain regions, both in Italy and Germany, as well as for tariff adjustments, mainly in Germany, where a further objective is to improve operating performance of selected underperforming units, whose recovery is still underway ➢ In Rehab, the implementation of the new public tariff system is expected to yield full benefits in 2027, partially compensated by labor contract renewals * Pro-forma not audited 2019 figures to exclude Medipass €/M Revenues 244,3 403,6 421,0 EBITDA 55,9 79,0 81,3 EBITDA pre IFRS16 39,5 38,1 40,1 EBIT 27,9 31,1 31,8 Financial result (16,4) (16,0) Taxes (6,4) (6,8) Third party result (0,4) (0,3) Group net result 7,9 8,7 NFP IFRS16 (606,7) (911,5) (901,8) NFP pre IFRS16 (292,7) (153,5) (179,0) 1H 2019 * 1H 20261H 2025 Real Estate Assets €/M Net Book Value 211,2 157,0 156,4 Fair Value 270,5 224,5 224,5 RE debt (excluding IFRS16) (80,9) (78,8) (80,6) 31 Dec 2019 31 Dec 2025 30 June 2026
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15 KOS – Revenues and KPIs by segment ➢ 1H 2026 revenues in line with previous year and reflecting full activity ➢ Public tariff review approved, but implementation still pending ➢ Continued recovery in occupancy rate: +0,6 p.p., including greenfields ➢ In the LxL perimeter (+0,4 p.p. vs. 1H2025), most regions/nursing homes are almost at regime (>94%) ➢ Revenues in 1H 2026 grew 4,8% vs 1H 2025, reflecting increase of occupancy, an average tariff increase of 3,5%, variable across regions, and the initial development of home care services ➢ Occupancy rate in the LxL perimeter was up 1 p.p. (91,5% vs. 90,6%), still ca. 4 p.p. below target, mainly due to some specific underperforming homes, while most key regions are almost at regime (overall occupancy rate decline is due to a new startup in January 2026) ➢ Revenues in 1H 2026 grew 6,8% vs 1H 2025, reflecting mainly tariff renegotiation, still ongoing (+5,4% average tariff vs 1H 2026), as well as occupancy increase and the new startup * Following an organizational change in 2023, two facilities with mixed activities were moved from Rehab to NH and the Villa dei Pini Hospital was reclassified from Rehab to Acute Care; 2019 figures are reclassified accordingly 1H 2019 1H 2025 1H 2026 1H 2019 1H 2025 1H 2026 1H 2019 1H 2025 1H 2026 1H 2019 1H 2025 1H 2026 Number of beds 5.739 6.451 6.421 2.147 2.504 2.445 307 218 218 3.844 4.575 4.678 % change vs 2019 12,4% 11,9% 16,6% 13,9% 19,0% 21,7% Occupancy - average 95,7% 92,7% 93,3% 90,6% 90,1% Occupancy - June 95,7% 93,4% 93,6% 91,1% 90,5% Revenues 111,2 142,6 149,5 96,5 107,9 108,8 37,4 20,9 21,5 132,9 142,0 % change vs 2019 28,2% 34,4% 11,9% 12,8% -44,2% -42,6% % change vs 2025 4,8% 0,8% 2,9% 6,8% LTC Italy * Acute CareRehabNH NH Germany
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➢ Margins of LTC Italy overall stable in 1H 2026 vs. 2025 and almost in line with 2019 at EBITDA IFRS16 and EBIT level; EBITDA ante IFRS16 ca. 2 p.p. below 2019, due to higher share of rented facilities ➢ In Germany profitability improved slightly vs. prior year, but is still dragged by a few underperforming homes, as well as by a new startup home in early 2026 ➢ Full recovery is dependent on the ongoing turnaround of underperforming homes, periodic tariff negotiation (to fully recover current and accumulated cost inflation) and the overcoming of staff shortages in some regions, still preventing the return to full occupancy 16 KOS – P&L by segment * Pro-forma not audited 2019 figures to exclude Medipass India, following its sale in 2023 €/M Revenues 244,3 244,3 270,7 132,9 403,6 278,9 142,1 421,0 EBITDA IFRS16 55,9 55,9 61,6 17,4 79,0 63,2 18,1 81,3 % on revenues 22,9% 22,9% 22,8% 13,1% 19,6% 22,6% 12,8% 19,3% EBITDA ante IFRS16 39,5 39,5 38,5 (0,4) 38,1 39,8 0,3 40,1 % on revenues 16,2% 16,2% 14,2% -0,3% 9,4% 14,3% 0,2% 9,5% EBIT 27,9 27,9 29,8 1,3 31,1 29,7 2,1 31,8 % on revenues 11,4% 11,4% 11,0% 1,0% 7,7% 10,6% 1,5% 7,6% Group net result 7,9 8,7 KOS GROUPItaly Germany 1H 2019* KOS GROUPGermanyItaly 1H 20261H 2025 KOS GROUP Italy Germany
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Revenues 494,8 492,5 EBITDA Adjusted 70,9 73,8 % on sales 14,3% 15,0% EBITDA 67,8 69,5 % on sales 13,7% 14,1% EBIT 31,7 32,5 % on sales 6,4% 6,6% Group result from continuing operations 17,4 17,6 Discontinued operations 1,3 1,1 Net result 18,7 18,7 1H 20261H 2025€/M 17 Sogefi – Summary of 2026 results and outlook Sogefi 1H 2026 results ➢ In 1H 2026 world car production fell by 1,0% vs 1H 2025, with Europe at -1,4%, NAFTA -0,7%, China -5,3%; growth in India (+13,6%) and South America (+5,8%) ➢ Sogefi’s sales grew by 0,4% at constant FX, with growth in Europe (+5,3%) and decline in NAFTA (-0,5%), South America (-6,2%), China (-12,4%) ➢ EBITDA Adjusted stood at € 73,8M, up vs € 70,9M 1H 2025; margin increased from 14,3% in 1H25 to 15,0%, thanks to improving gross margin and fixed cost containment ➢ Free cash flow was +€ 7,5M, vs. +€ 13,6M in 1H 2025; excluding the effect of IFRS16 (renewal of a relevant rental contract in 1H 2026) FCF was € 13,2M, vs. € 8,1M in 1H25 ➢ NFP before IFRS16 was -€ 8,3M at June 30th, 2026 (vs. -€ 19,2M at end 2025) Significant events in 1H 2026 ➢ On July 31, 2026 Sogefi closed the sale of its non-core Precision Springs (“PS”) unit to AMFT, controlled by PE fund One Equity. PS had a turnover of € 28,6M and EBITDA of €3,8M in 2025. Net Enterprise Value of the sale was ca. € 21M (subject to customary post-closing adjustments) 2026 Outlook ➢ Visibility regarding the auto market still impacted by high uncertainty surrounding the geopolitical and economic context. IHS expects 2026 world production to fall by 2,1%, with declines expected in Europe, NAFTA and China and growth in India and Latam ➢ Regarding raw materials (steel, plastic) and energy prices, significant increases and heightened volatility are recorded following the middle-east crisis escalation ➢ Sogefi expects a low-single-digit revenue decline for the whole of 2026, and confirms an adjusted EBIT margin in line with 2025 (1) Ebitda Adjusted is calculated net of restructuring costs, fx differences, M&A gains/losses, other non operating items (2) Precision Springs unit, sold in 2026 (2) (1)
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18 Sogefi – Performance by division ➢ Sales -2% at constant FX, stable in Europe, declining in China (-11%) and Latam, growing +16,4% in India ➢ EBITDA Adjusted growth came from contribution margin increase (from 29,7% to 30,5%), thanks to favorable business mix evolution ➢ EBIT margin growing from 5,3% to 6,2% of sales ➢ Sales up (+3,5%) at constant FX, with strong recovery (+14,9%) in Europe, stability in North America and decline in China. ➢ EBITDA adjusted slightly up, at a high margin level (17,7%) ➢ EBIT margin 8,3% vs 9,2% in 2025, the difference being due to higher non recurring items EBITDA Adjusted Euro M Revenues % change
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19 Executive Summary CIR Group Consolidated Results KOS and Sogefi Group ESG strategy CIR Holding
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20 ESG plans and performance Further information on achievement of 2025 targets and ESG plans targets for 2026-29 are published in the Sustainability Statements of CIR, KOS and Sogefi
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21 Disclaimer ➢ This document has been prepared by CIR for information purposes only and for use in presentations of the Group’s results and strategies ➢ For further details on CIR and its Group, reference should be made to publicly available information, including the Annual and the Semi-Annual Reports ➢ Statements contained in this document, particularly the ones regarding any CIR Group possible or assumed future performance, are or may be forward looking statements and, in this respect, involve risks and uncertainties ➢ Any reference to past performance of CIR Group shall not be taken as an indication of future performance ➢ This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall formthe basis of or be relied upon in connection with any contract or commitment whatsoever.