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GVS H1 2026 RESULTS PRESENTATION August 6th , 2026 Teleborsa : distribution and commercial use strictly prohibited emarket sdir storage CERTIFIED
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 2 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 H1 2026 Sales at €215m, +3.3% organic growth vs. H1 2025 H1 2026 key trends and figures Executive Summary €239.3m NFP as of June 2026, with Leverage Ratio(1) at 2.2x €55.4m adjusted EBITDA in H1 2026, +2.2% YoY , with 25.7% margin (+62 bps vs. H1 2025) Q2 2026 adjusted EBITDA at €29.5m, with 26.8% margin €23.8m of Adjusted Net Income net of FX impact, with 11.1% margin (1) Leverage ratio calculated as NFP / L12M Adjusted EBITDA
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 3 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 268.0 239.3 2.4x 2.2x H1 2025 H1 2026 NFP Leverage (1) 54.2 55.4 25.1% 25.7% H1 2025 H1 2026 Adj. EBITDA margin % 146.2 144.6 29.2 28.8 40.3 41.6 215.6 215.0 H1 2025 H1 2026 Healthcare&Life Sciences Energy&Mobility Safety SALES H1 2026 Results At-a-Glance Organic revenue growth and EBITDA % expansion continue in H1 2026 (1) Leverage ratio calculated as NFP / L12M Adjusted EBITDA Adjusted EBITDA and % Net Financial Position and Leverage • H1 2026 organic sales growing +3.3%, across all the three divisions: Safety (+8.2%), Mobility (+2.4%) and Healthcare (+2.1%) • Adj. EBITDA up +2.2% YoY to €55.4m, with 62 bps of margin expansion • Net Financial Position at €239.3m, with Leverage Ratio(1) at 2.2x €m €m +2.2% Reported -0.3% €m +8.2% +2.4% +2.1% Excl. FX +3.3% Excl. FX
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 4 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 -7.7 2.7 4.4 215.0 215.6 Sales H1 2025 FX Effect Volume Effect Net Price Effect Sales H1 2026 Sales – H1 2026 vs. H1 2025 +3.3% YoY organic growth, supported by volume and pricing • +3.3% growth excl. FX vs. H1 2025, supported by volumes (+1.3% YoY) and pricing (+2.0% YoY) • - €7.7m (-3.6% YoY) adverse FX impact, mostly linked to EUR/USD depreciation €m SALES – H1 2025 TO H1 2026 BRIDGE Organic Growth : +3.3%
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 5 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 110.8 107.9 29.3 30.9 6.1 5.9 146.2 144.6 H1 2025 H1 2026 MedTech Transfusion Medicine Life Sciences 40.3 41.6 H1 2025 H1 2026 Safety 29.2 28.8 H1 2025 H1 2026 Energy&Mobility Healthcare & Life Sciences Sales – H1 2026 Performance by Division Transfusion Medicine and Safety leading the growth Safety Energy & Mobility Reported -1.1% €m €m €m • Healthcare sales +2.1% excl. FX, led by Transfusion Medicine (+10.9%) in acceleration vs. Q1 (+7.9%) • Safety sales up +8.2% YoY excl. FX, broadly in line with Q1 performance (+8.6%) • Mobility division back to organic growth (+2.4% excl. FX) +10.9% -0.3% +3.1% Reported +3.4% Excl. FX +2.4% Excl. FX +2.1% Reported -1.4% Excl. FX Excl. FX +8.2%
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 6 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 54.2 -1.9 1.1 4.4 -2.4 55.4 Adj. EBITDA H1 2025 FX Effect Volume and Mix Effect Net Price Effect Other Adj. EBITDA H1 2026 Adj. EBITDA – H1 2026 vs. H1 2025 62 bps of margin expansion, supported by pricing • H1 2026 Adj. EBITDA growing +5.7% excl. FX vs. H1 2025, driven by positive pricing effect • “Other” includes the negative impact from raw material cost inflation, fully offset by ad-hoc price increase €m ADJ. EBITDA – H1 2025 TO H1 2026 BRIDGE ADJUSTED EBITDA % 25.7%25.1% Growth excl. FX: +5.7% 62 bps of margin expansion
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 7 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 26.2 23.8 12.1% 11.1% H1 2025 H1 2026 Adj. Net Income margin % 9.3 28.8 4.3% 13.4% H1 2025 H1 2026 Adj. Net Income margin % Adj. Net Income Adj. Net Income – H1 2026 vs. H1 2025 11.1% margin excl. FX impact vs. 10.2% in Q1 2026 Adj. Net Income Excl. FX Gains/Losses €m €m • Adjusted Net Income is impacted by FX gains and losses, mostly non-cash items related to the mark-to-market of USD denominated intercompany loans – H1 2025 Adjusted Net Income includes €22.2m of FX losses(1) – H1 2026 Adjusted Net Income includes €6.7m of FX gains (2) • Net Profitability, excl. FX impact on financial charges and related tax effects, declining -9.1% YoY on the back of higher D&A, mainly related to new plants in UK and China -9.1% (1) EUR/USD as of 31/12/2024: 1.04, EUR/USD as of 30/06/2025: 1.17 (2) EUR/USD as of 31/12/2025:1.17, EUR/USD as of 30/06/2026: 1.14
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 8 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 57.4 (21.7) (5.7) (16.6) (5.4) (2.6) (4.8) 0.0 (267.2)(268.0) NFP 30-Jun-25 Operating Cash-Flow Delta NWC Taxes Capex Net Financ. Costs Delta Funds Leasing Renew. Others NFP 30-Jun-26 57.4 (21.7) (5.7) (16.6) (5.4) (2.6) (4.8) 0.0 (239.3)(240.1) NFP 31-Dec-25 Operating Cash-Flow Delta NWC Taxes Capex Net Financ. Costs Delta Funds Leasing Renew. Others NFP 30-Jun-26 Net Financial Position – H1 2026 vs. FY 2025 Stable NFP vs. December 2025 mostly linked to NWC seasonality €m NET FINANCIAL POSITION – FY 2025 TO H1 2026 BRIDGE LEVERAGE RATIO(1)2.2x 2.2x (1) Leverage ratio calculated as NFP / L12M Adjusted EBITDA 2.4x • Stable NFP vs. December 2025 mostly linked to NWC seasonality (-€21.7m negative impact) • €16.6m of ordinary capex, in line with historical trend
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 9 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 FY 2026 – Strategic Focus and Guidance FY 2026 GUIDANCE CONFIRMED Low single digit growth excl. FX vs. FY 2025 20-50 bps of margin expansion vs. FY 2025 In the region of 1.8x, excluding the impact of the voluntary partial tender offer on treasury shares SALES Adj. EBITDA % Leverage Ratio (x) FY 2026 STRATEGIC FOCUS FY 2026 guidance confirmed. New business plan on Sep 24th • MedTech: Establish new subdivisions to sharpen commercial focus on higher-growth segments and maximise M&A synergies • Transfusion Medicine: new TM platform build-out completed with the full integration of Whole Blood business; focus now on driving business growth and accelerating new product development • Safety: continue business expansion, supported by the ramp-up of new products across all geographies • Life Sciences: drive revenue growth through validations with pharmaceutical customers and new distribution agreements • Mobility: stabilize revenues, continuing the growth of EV-related solutions and recovering volumes in agricultural vehicle applications New 2026-2028 Business plan to be presented on September 24th, 2026
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 10 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 € m H1 2025 of which non-recurring H1 2025 Adjusted % H1 2026 of which non-recurring H1 2026 Adjusted % Revenues from sales and services 215.6 - 215.6 100.0% 215.0 - 215.0 100.0% Other operating income 3.7 0.4 3.3 1.5% 2.1 - 2.1 1.0% Total revenues 219.3 0.4 218.9 101.5% 217.2 - 217.2 101.0% Cost of raw materials, purchases and change in inventories (64.6) - (64.6) -29.9% (62.4) - (62.4) -29.0% Personel cost (68.8) (2.0) (66.8) -31.0% (67.2) (0.2) (67.0) -31.2% Cost of services (31.3) (0.4) (30.9) -14.3% (30.3) (0.5) (29.7) -13.8% Other operating costs (3.1) (0.5) (2.6) -1.2% (2.6) (0.0) (2.6) -1.2% EBITDA 51.6 (2.6) 54.2 25.1% 54.6 (0.8) 55.4 25.7% Amortisation and depreciation (22.3) (8.0) (14.3) -6.7% (23.4) (6.2) (17.2) -8.0% Provisions and write-downs (0.3) - (0.3) -0.1% (0.7) (0.7) -0.3% EBIT 29.0 (10.6) 39.5 18.3% 30.5 (7.0) 37.5 17.4% Financial income 0.8 - 0.8 0.4% 7.3 7.3 3.4% Financial expenses (28.3) (0.5) (27.9) -12.9% (6.0) (0.2) (5.8) -2.7% Profit (loss) before taxes 1.4 (11.0) 12.4 5.8% 31.8 (7.2) 39.0 18.1% Income tax (0.3) 2.8 (3.1) -1.4% (8.4) 1.8 (10.2) -4.7% Net profit 1.0 (8.3) 9.3 4.3% 23.4 (5.5) 28.8 13.4% H1 2026 Results – Financial Statements H1 2025 and H1 2026 P&L – Statutory Adjusted View (1) (1) (2) (2) (1) H1 2025 financial expenses include €22.2m of FX losses (2) H1 2026 financial income includes €6.7m of FX gains
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 11 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 €m As of 31-Dec-2025 As of 30-Jun-2026 Net intangible fixed assets 434.3 439.7 Net right of use 25.2 26.1 Net tangible fixed assets 163.6 168.7 Financial fixed assets 1.3 1.3 Other fixed assets 2.0 2.9 Fixed capital (A) 626.4 638.7 Net trade receivables 50.8 65.0 Inventories 90.4 105.8 Payables to suppliers (42.6) (51.6) Net commercial working capital (B) 98.5 119.2 Other current assets 25.4 19.7 Other current liabilities (36.1) (51.4) Total current assets/liabilities (C) (10.7) (31.7) Net working capital (D)= (B) + (C) 87.8 87.6 Other non-current liabilities (E) (32.3) (32.3) Employee termination indemnity and end of service indemnity (F) (2.8) (2.6) Provisions for risks and charges (G) (1.8) (1.4) Net invested capital (H) = (A+D+E+F+G) 677.3 690.0 Shareholders’ equity (437.2) (450.7) Consolidated shareholders’ equity (I) (437.2) (450.7) Short-term financial indebtedness)/Liquidity (44.9) 16.0 (Net medium/long term financial indebtedness) (195.2) (255.3) Net financial indebtedness (L) (240.1) (239.3) Own funds and net financial indebtedness (M) = (I+L) (677.3) (690.0) H1 2026 Results – Financial Statements Reclassified Balance Sheet - FY 2025 – H1 2026
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 12 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 H1 2026 Results – Financial Statements Cash Flow Statement – H1 2025 – H1 2026 €m H1 2025 H1 2026 Pre-tax result 1.4 31.8 Amortisation, depreciation and writedowns 22.3 23.4 Capital losses / (capital gains) from sale of assets (0.1) (0.0) Financial expenses / (income) 27.6 (1.3) Other non-monetary changes 6.9 3.5 Cash flow generated operations before delta NWC 58.1 57.4 Change in inventories (20.1) (14.2) Change in trade receivables (8.1) (12.6) Change in trade payables 2.9 6.4 Change in other assets and liabilities (7.2) (1.3) Use of provisions for risks and charges and for employee benefits (4.5) (2.6) Taxes paid (9.2) (5.7) Net cash flow by operations 11.9 27.5 Investments in tangible assets (41.0) (10.6) Investments in intangible assets (3.6) (6.0) Disposal of tangible assets 0.2 0.1 Investment in financial assets (0.2) (0.7) Disinvestment in financial assets 28.3 0.4 Consideration for company business combinations net of acquired cash and cash equivalents (19.1) (6.9) Net cash flow by investment (35.4) (23.6) New financial payables 20.0 82.6 Repayment of financial payables (25.7) (63.6) Repayment of leasing liabilities (4.5) (4.9) Financial expenses paid (6.0) (5.8) Financial income collected 0.8 0.7 Treasury shares 0.1 - Net cash flow from financial activities (15.2) 9.0 Total change in cash and cash equivalents (38.8) 12.8 Cash and cash equivalents at the start of the year 103.0 78.7 Total variation in cash on hand and conversion differences (41.0) 13.8 Cash on hand at the end of the period 62.0 92.5
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ibdroot\projects\IBD-LN\fiberglass2019\643420_1\7. Marketing Materials\03 Analyst Presentation\Project Vicky_Analyst Presentation_ v55.pptx 5.30” / 13.46cm 0.13” / 0.33cm 0.13” / 0.33cm 5.30” / 13.46cm 13 31,78,120 0,176,240 155,194,230 127,127,127 255,255,255 89,89,89 69,130,156Chart 7 Chart 8 Chart 9 Chart 10 Chart 11 Chart 12 Table Highlights Chart 1 Chart 2 Chart 3 Chart 4 Chart 5 Chart 6 0,137,210 200,200,200 47,117,181 127,127,127 215,221,235 141,186,226 189,215,238 Body Text Background Message Box Table Highlights Titles,. Headings 241,245,247 0,132,180 241,245,247 223,233,238 Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998, the executive in charge of preparing the corporate accounting documents at GVS S.p.A., Emanuele Stanco, declares that the accounting information contained herein correspond to document results, books and accounting records. This presentation contains certain forward-looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries. These forward-looking statements are based on GVS S.p.A.’s current expectations and projections about future events. Because these forward-looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of GVS S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments, fluctuations in the price, and other risks. You are cautioned not to place undue reliance on the forward-looking statements contained herein, which are made only as of the date of this presentation. GVS S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward-looking statements to reflect events or circumstances after the date of this presentation. This presentation does not constitute a recommendation regarding the securities of the Company. This presentation does not contain an offer to sell or a solicitation of any offer to buy any securities issued by GVS S.p.A. or any of its subsidiaries, in Italy pursuant to Section 1, let t) letter (t) of Legislative Decree no. 58 of February 24, 1998, or in any other country or state. The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party. The reader should consult any further disclosures GVS may make in documents it files with the Italian Securities and Exchange Commission and with the Italian Stock Exchange. Disclaimer