Earnings release
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PRESS RELEASE Turin, 30th July 2026 ù Iveco Group 2026 Second Quarter Results(*) The Board of Directors approves Q2 and H1 2026 preliminary results Strong growth in revenues led by higher volumes in Europe; Q2 profitability reflects planned investments in quality Tata Motors’ Tender Offer expected to be launched in early September 2026 with closure envisaged by early November 2026 EU-IFRS FINANCIAL MEASURES NON-EU-IFRS FINANCIAL MEASURES (1) (€ million) Q2 2026 Q2 2025 Change (€ million) Q2 2026 Q2 2025 Change Consolidated EBIT 121 169 -48 Adjusted EBIT 131 171 -40 of which EBIT of Industrial Activities 94 141 -47 of which Adjusted EBIT of Industrial Activities 104 143 -39 Profit/(loss) for the period 38 79 -41 Adjusted net income 46 79 -33 Diluted EPS € 0.14 0.28 -0.14 Adjusted diluted EPS € 0.17 0.29 -0.12 Cash flow from operating activities (462) 95 -557 Free cash flow of Industrial Activities (45) 119 -164 Cash and cash equivalents(2) 2,514 3,582 -1,068 Available liquidity(2) 4,432 5,498 -1,066 In the second quarter, Iveco Group recorded a strong increase in consolidated revenues of €3,764 million (+7.3%) and also in industrial revenues of €3,696 million (+7.9%), in particular thanks to higher European volumes. Industrial Activities generated an Adjusted EBIT of €104 million. Free Cash Flow represented an outflow of €45 million, while Available Liquidity remained solid at €4.4 billion as of 30th June 2026, following payment of the ~€1,550 million extraordinary interim dividend on 22nd April 2026 from the proceeds of the Defence business disposal. Truck reaffirmed its leadership position in the upper-end and chassis-cab segments of the light commercial vehicle market, while maintaining disciplined pricing in European heavy-duty vehicles. Compared with the second quarter of 2025, European industry volumes were broadly stable in light-duty and increased by 9% in medium- and heavy-duty. Order intake remained strong, increasing 21% in light-duty and 47% in medium- and heavy-duty. The European heavy-duty book-to-bill ratio improved by 33 basis points year-over-year, while light commercial vehicles remained steady. Profitability was affected by the additional resources dedicated to quality, partially offset by higher volumes and positive pricing. IVECO BUS retained its number one position in the European electric bus market and consolidated its number two ranking overall, with a market share of more than 25%. Bus deliveries increased by 8%, supported by the Annonay plant operating at full capacity. Profitability was affected by rework costs associated with the last batch of unfinished city buses carried over from 2025, now fully deployed, partially offset by higher volumes and positive pricing. This rework is now complete, removing the related cost impact from the second half of the year. In Powertrain, overall engine volumes increased by 9% compared with the second quarter of 2025, driven by increased small-engine deliveries in Europe across on- road and off-road applications. Profitability was affected by an unfavourable product mix, primarily reflecting fewer large-engine deliveries in the Americas, and the previously mentioned investments in quality. These impacts were partially offset by disciplined cost control and continued operational efficiency. Consistent with the Company’s ambition to become a premium partner, Model Year 26 truck range was launched in the first week of July at IVECO Experience 2026, with the participation of 2,000 customers, dealers, suppliers, partners, media representatives and employees. IVECO restated its commitment to supporting customers throughout the entire vehicle lifecycle, through best-in-class, end-to-end quality, innovation and close customer relationships. It also showcased the next stage of the journey that began two years ago, guided by the ‘Spirito in Movimento’ ambition and its three pillars: Motion by Design, Motion through Experience and Motion as Family. Looking ahead, the Company expects a gradual recovery in profitability during H2 2026, reflecting the weaker industry demand for LCV towards the end of the year, particularly in the upper end, and increased macroeconomic uncertainties that will negatively impact the full year performance of our industrial activities. These are expected to be partially offset by the actions implemented in H1 2026 and the acceleration of our Efficiency Programme. H2 2026 is also expected to deliver solid Free Cash Flow generation. With regard to the Tata Motors’ Tender Offer for the proposed acquisition of the Iveco Group, the regulatory process is reaching its final stage, with only one pending approval to be received by Tata Motors. Based on the information received from Tata Motors, following its interactions with the competent Authority, all requests have been addressed and final clearance is expected to be received by end of August 2026. Accordingly, the Tender Offer is expected to be launched in early September 2026 with an expected closure by early November 2026. “Our positive top line performance during this quarter is a strong indicator of the continuing resilience of our industrial businesses. Our deliberate focus on investments in quality – in line with the priorities we set out for the year – has had its impact on short-term profitability but is expected to deliver lasting benefits going forward across the full range of our products and services. These deliberate and positive actions to improve the core efficiency of our business will ensure that Iveco Group enters the next phase of its development as a strong and confident contributor to our transformational deal with Tata Motors that continues to make good progress in securing all the necessary approvals.” Olof Persson, Chief Executive Officer Notes: Iveco Group consolidated financial results included in this press release are prepared in accordance with EU-IFRS. (*) 2026 and 2025 financial data shown in this press release refer to Continuing Operations only (ie. excluding Defence business), unless otherwise stated. In particular, on 18th March 2026, Iveco Group transferred the full ownership of its Defence business (IDV and ASTRA brands) to Leonardo S.p.A., as per the terms of the agreement announced on 3 0th July 2025. In accordance with IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations, as the sale became highly probable in July 2025, the Defence business met the criteria to be classified as a disposal group held for sale since that date; it also met the criteria to be classified as Discontinued Operations. In accordance with applicable accounting standards, the figures in the Income Statement and Statement of Cash Flows for Q2 and H1 2025 have been recast consistently. (1) Non-EU-IFRS financial measures: refer to the “Non -EU-IFRS Financial Information” section of this press release for information regarding non -EU-IFRS financial measures. Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure. (2) Comparison vs 31st March 2026.
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Pag. 2 Q2 2026 Performance of Continuing Operations and Results by Business Unit Consolidated revenues amounted to €3,764 million compared to €3,507 million in Q2 2025, up 7.3%. Net revenues of Industrial Activities were €3,696 million compared to €3,426 million in Q2 2025, up 7.9%, mainly due to higher volumes in Europe. Adjusted EBIT was €131 million compared to €171 million in Q2 2025, with a margin of 3.5% (4.9% in Q2 2025). Adjusted EBIT of Industrial Activities was €104 million (€143 million in Q2 2025), mainly resulting from unfavourable production costs due to a strengthened focus on quality across businesses and rework costs in Bus, partially offset by higher volumes. Adjusted EBIT margin of Industrial Activities was 2.8% (4.2% in Q2 2025). Adjusted Net Income was €46 million (€79 million in Q2 2025) and adjusted Diluted Earnings per share was €0.17 (€0.29 in Q2 2025). Net financial expenses amounted to €70 million, in line with Q2 2025. Reported income tax expense was €13 million, with an adjusted Effective Tax Rate (adjusted ETR(1)) of 25% in Q2 2026, which reflects the different tax rates applied in the jurisdictions where the Group operates and some other discrete items. Free Cash Flow of Industrial Activities was negative at €45 million compared to positive €119 million in Q2 2025, mainly due to working capital absorption and increased investments driven by an enhanced focus on quality. Available Liquidity was €4,432 million as of 3 0th June 2026, after the extraordinary interim dividend distribution of ~€1,550 million, which occurred on 22nd April 2026, on the net proceeds from the sale of Defence business. Available Liquidity also included €1,900 million of undrawn committed facilities. Truck Q2 2026 Q2 2025 Change The European Truck market was up 2% year -over-year, with Light-Duty Vehicles (LCV) down 1% and Medium- and Heavy-Duty Trucks (M&H) up 9%. The South American Truck market was up 1% in LCV and down 2% in M&H. Iveco Group deliveries were up 19% vs Q2 2025 in Europe (up 24% and 4% in LCV and in M&H, respectively) and were down 6% in South America (up 18% in LCV and down 19% in M&H). Worldwide Truck book-to-bill was 0.91 at the end of the quarter. Net Revenues were €2,443 million, up 4.2% compared to Q2 2025, mainly due to higher volumes and a better mix. The Adjusted EBIT was €74 million compared to €129 million in Q2 2025, resulting mainly from higher production costs for increased resources dedicated to quality, partially offset by higher volumes and mix. The Adjusted EBIT margin was at 3.0% (5.5% in Q2 2025). Net revenues (€ million) 2,443 2,345 +4.2% Adjusted EBIT (€ million) 74 129 -55 Adjusted EBIT margin 3.0% 5.5% -250 bps Notes: (1) Non-EU-IFRS financial measures: refer to the “Non-EU-IFRS Financial Information” section of this press release for information regarding non-EU-IFRS financial measures. Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure.
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Pag. 3 Bus Q2 2026 Q2 2025 Change Bus registrations were up 19% in Europe and down 4% in South America compared to Q2 2025. Iveco Group deliveries were up 8% in Europe and up 20% in South America. Net Revenues were up 22.4% in the quarter, driven by higher volumes. The Adjusted EBIT was €29 million compared to € 42 million in Q2 2025 resulting from rework costs in the Annonay plant to recover the 2025 product delay – now fully completed – and negative product mix, partially offset by higher volumes. The Adjusted EBIT margin was at 3.2% (5.6% in Q2 2025). Net revenues (€ million) 919 751 +22.4% Adjusted EBIT (€ million) 29 42 -13 Adjusted EBIT margin 3.2% 5.6% -240 bps Powertrain Q2 2026 Q2 2025 Change Powertrain Net Revenues were €941 million, up 7.2% compared to Q2 2025, due to higher volumes and positive price realisation . Sales to external customers accounted for 45% (47% in Q2 2025). The Adjusted EBIT was €39 million, up €5 million compared to Q 2 2025, primarily driven by higher volumes and positive price realisation. The Adjusted EBIT margin was at 4.1% (3.9% in Q2 2025). Net revenues (€ million) 941 878 +7.2% Adjusted EBIT (€ million) 39 34 +5 Adjusted EBIT margin 4.1% 3.9% +20 bps Financial Services Q2 2026 Q2 2025 Change Financial Services Net Revenues were €109 million, compared to €113 million in Q2 2025, mainly due to lower wholesale portfolio receivables. The Adjusted EBIT was at €27 million, in line with Q2 2025. The end of period managed portfolio for Iveco Group (including unconsolidated joint ventures) was €8,102 million at the end of the quarter (of which retail was 42% and wholesale 58%), up €130 million compared to 30th June 2025. The receivable balance greater than 30 days past due as a percentage of the on-book portfolio was 2.2% (2.0% as of 30th June 2025). Net revenues (€ million) 109 113 -3.5% Adjusted EBIT (€ million) 27 28 -1 Equity at quarter end (€ million) 799 825 -26 Retail loan originations (€ million) 438 480 -42
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Pag. 4 Iveco Group 2026 First Half Results EU-IFRS FINANCIAL MEASURES NON EU-IFRS FINANCIAL MEASURES (1) (€ million) H1 2026 H1 2025 Change (€ million) H1 2026 H1 2025 Change Consolidated EBIT 12 223 -211 Adjusted EBIT 76 288 -212 of which EBIT of Industrial Activities (50) 160 -210 of which Adjusted EBIT of Industrial Activities 14 225 -211 Profit/(loss) for the period (78) 93 -171 Adjusted net income/(loss) (28) 139 -167 Diluted EPS € (0.30) 0.34 -0.64 Adjusted diluted EPS € (0.11) 0.51 -0.62 Cash flow from operating activities (239) (105) -134 Free cash flow of Industrial Activities (726) (728) +2 Cash and cash equivalents(2) 2,514 2,953 -439 Available liquidity(2) 4,432 5,192 -760 Truck H1 2026 H1 2025 Change Net revenues (€ million) 4,253 4,309 -1.3% Adjusted EBIT (€ million) 3 187 -184 Adjusted EBIT margin 0.1% 4.3% -420 bps Bus H1 2026 H1 2025 Change Net revenues (€ million) 1,535 1,229 +24.9% Adjusted EBIT (€ million) 30 68 -38 Adjusted EBIT margin 2.0% 5.5% -350 bps Powertrain H1 2026 H1 2025 Change Net revenues (€ million) 1,731 1,662 +4.2% Adjusted EBIT (€ million) 61 77 -16 Adjusted EBIT margin 3.5% 4.6% -110 bps Financial Services H1 2026 H1 2025 Change Net revenues (€ million) 212 227 -6.6% Adjusted EBIT (€ million) 62 63 -1 Notes: (1) Non-EU-IFRS financial measures: refer to the “Non-EU-IFRS Financial Information” section of this press release for information regarding non-EU-IFRS financial measures. Refer to the specific table in the “Other Supplemental Financial Information” section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure. (2) Comparison vs 31st December 2025.
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Pag. 5 Non-EU-IFRS Financial Information Iveco Group monitors its operations through the use of several non-EU-IFRS financial measures including Adjusted EBIT, Adjusted EBIT margin, Adjusted Net Income/(Loss), Adjusted Diluted EPS, Adjusted Income Taxes, Adjusted Effective Tax Rate, Free Cash Flow of Industrial Activities, Net Cash (Debt) and Net Cash (Debt) of Industrial Activities , and Available Liquidity . Iveco Group’s management believes those measures provide useful and relevant information regarding Iveco Group’s operating results and enhance the readers’ ability to assess Iveco Group’s financial performance and financial position. Mana gement uses these non-EU-IFRS financial measures to monitor the underlying performance of Iveco Group’s business and operations, to identify operational trends, as well as to make decisions regarding future spending, resource allocations and other operational decisions as they provide additional transparency with respect to Iveco Group’s core operations. These non-EU-IFRS financial measures have no standardised meaning under EU-IFRS and are unlikely to be comparable to other similarly titled measures used by other companies and are not intended to be substitutes for measures of financial performance and financial position as prepared in accordance with EU-IFRS. Iveco Group’s non-EU-IFRS financial measures are defined as follows: • Adjusted EBIT: is defined as EBIT before restructuring costs and non-recurring items, if any. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of ongoing operational activities. The performance of Iveco Group is reviewed based on the Adjusted EBIT, which the management believes more fully reflects Iveco Group’s profitability, and, as such, Iveco Group uses Adjusted EBIT for internal reporting to assess performance as part of the forecasting, budgeting and decision-making process as it provides additional transparency regarding Iveco Group’s underlying operating performance. The management believes Adjusted EBIT is useful because it excludes items that management believes are not indicative of Iveco Group’s underlying operating performance between periods. The management also believes t hat Adjusted EBIT is useful for investors and analysts to better understand how management assesses Iveco Group’s underlying operating performance on a consistent basis. Accordingly, Iveco Group believes that Adjusted EBIT provides useful information to third party stakeholders in understanding and evaluating Group’s operations; • Adjusted EBIT margin; is computed by dividing a) Adjusted EBIT by b) Net revenues; • Adjusted Net Income/(Loss): is defined as profit/(loss) for the period, before restructuring costs and non-recurring items, if any, net of the related income tax effect. In particular, non-recurring items are specifically disclosed items that management considers rare or discrete events that are infrequent in nature and not reflective of ongoing operational activities . Iveco Group uses Adjusted Net Income/(Loss) to assess performance as part of its decision -making process as it provides additional insight into Iveco Group’s underlying overall performance, net of income tax. The manag ement believes that Adjusted Net Income/(Loss) is also useful for investors and analysts to better understand how management assesses Iveco Group’s underlying overall performance on a consistent basis. Accordingly, Iveco Group believes that Adjusted Net Income/(Loss) provides useful information to third party stakeholders in understanding and evaluating Group’s operations; • Adjusted Diluted EPS: is computed by dividing Adjusted Net Income /(Loss) attributable to Iveco Group N.V. by a weighted -average number of Common Shares outstanding during the period that takes into consideration potential Common Shares outstanding deriving from the Iveco Group share -based payment awards, when inclusion is not anti-dilutive. When Iveco Group provides guidance for adjusted diluted EPS, the Group does not provide guidance on an earnings per share basis because the EU-IFRS measure will include potentially significant items that have not yet occurred and are difficult to predict with reasonable certainty prior to year-end; • Adjusted Income Taxes: is defined as income taxes less the tax effect of restructuring expenses and non-recurring items, and non-recurring tax charges or benefits; • Adjusted Effective Tax Rate (Adjusted ETR): is computed by dividing a) Adjusted Income Tax (expense) benefit by b) Adjusted Profit/(Loss) before taxes. Adjusted Income Tax (expense) benefit represents income tax (expense) benefit, adjusted for the income tax (expense) benefit of restructuring costs and non-recurring items, if any, as well as any non -recurring tax expenses or benefits. Adjusted Profit/(Loss) before taxes represents profit/(loss) before taxes of the applicab le period, adjusted for restructuring costs and non -recurring items, if any. Adjusted ETR fully reflects Iveco Group’s level of taxation, based on Group's Profit/(Loss) before taxes, removing extraordinary and non-recurring items. The management believes that this is useful for investors and analysts to better understand Iveco Group’s level of taxation on a consistent basis and enables them to compare Iveco Group’s level of taxation with that of other companies; • Free Cash Flow of Industrial Activities (or Industrial Free Cash Flow): refers to Industrial Activities, only, and is computed as consolidated cash flow from operating activities less: cash flow from operating activities of Financial Services; investments of Industrial Activities in property, plant and equipment and intangible assets; as well as other changes and intersegment eliminations. Iveco Group views Free Cash Flow as a useful measure for measuring its cash generation ability; • Net Cash (Debt) and Net Cash (Debt) of Industrial Activities: Net Cash (Debt) is defined as total Debt (including debt payable to CNH deriving from financing activities and sale of trade receivables) plus Derivative liabilities, net of Cash and cash equivalents, Derivative assets and other current financial assets (primaril y current securities, short -term deposits and investments towards high -credit rating counterparties) and financial receivable s from CNH deriving from financing activities and sale of trade receivables. Iveco Group provides the reconciliation of Net Cash (Debt) to Total (Debt), which is the most directly comparable EU-IFRS financial measure included in the Group’s Consolidated Statement of Financial Position. Due to different sources of cash flows used for the repayment of the debt between Industrial Activities and Financial Services (by cash from operations for Industrial Activities and by collection of financing receivables for Financial Services), management separately evaluates the cash flow performance of Industrial Activities using Net Cash (Debt) of Industrial Activities; and • Available Liquidity: is defined as cash and cash equivalents, including restricted cash, undrawn medium-term unsecured committed facilities, other current financial assets (primarily current securities, short-term deposits and investments towards high -credit rating counterparties), and financial receivables from CNH deriving from financing activities and sale of trade receivables. Forward-looking statements Statements other than statements of historical fact contained in this earning release, including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and prod ucts, are forward-looking statements. These statements may include terminology such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”, “continue”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “prospects”, “plan”, or similar terminology. Forward-looking statements are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are difficult to predict and/or are outside the Company’s control. If any of these risks and uncertainties materiali se (or they occur with a degree of severity that the Company is unable to predict ) or other assumptions unde rlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans , the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: the continued uncertainties related to the unknown duration and economic, operational and financial impacts of ongoing and/or threatened international conflicts and geopolitical tensions ; vulnerability to cybersecurity or data privacy incidents, also due to potential massive availability of Generative Artificial Intelligence; the many interrelated factors that affect consumer conf idence and worldwide demand for capital goods and capital goods-related products, including demand uncertainty caused by current macroeconomic and geopolitical issues; changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods -related issues such as the environment, debt relief and subsidy program policies,
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Pag. 6 trade and commerce and infrastructure development; government policies on international trade and investment, including sanct ions, import quotas, capital controls and tariffs; volatility in international trade caused by the imposition of tariffs, sanctions, embargoes, and trade wars; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; production difficulties, including capacity and excess inventory levels; labour relations; interest rates and currency exchange rates; inflation and deflation; energy prices; our ability to obtain financing or to refinance existing debt; price pressure on new and used vehicles; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, follow-on private litigation in various jurisdictions after the settlement of the EU antitrust investigation of the Iveco Group announced on 19 July 2016, intellectual property rights disputes, produc t warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issue s; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of Iveco Group and its suppliers and dealers; security breaches with respect to our products; furth er developments of geopolitical threats which could impact our operations, supply chains, distribution network, as well as negative evolutions of the economic and financia l conditions at global and regional levels; political and civil unrest; volatility and deterioration of capital and financial markets, including other pandemics, terrorist attacks or acts of war in Europe and elsewhere; our ability to realise the anticipated benefits from our business initiatives as part of our strategic plan; our failure to realise, or a delay in realising, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing. Forward-looking statements are based upon assumptions relating to the factors described in this earnings release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside Iveco Group’s control. Except as otherwise required by applicable rules, Iveco Group expressly disclaims any intention to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning Iveco Group, including factors that potentially could materially affect Iveco Group’s financial results, is included in Iveco Group’s reports and public filings under applicable regulations. About Iveco Group Iveco Group N.V. (EXM: IVG) is a global player in the automotive industry, built on a strong Italian heritage and with a consolidated international reach. The Group channels decades of engineering excellence and innovation into sustainable mobility and customer driven technologies. Its five brands play a leading role in their respective domains: IVECO, a pioneering commercial vehicles brand offering heavy, medium and light duty trucks; FPT, a global leader in advanced powertrain technologies in the agriculture, construction, marine, power generation and commercial vehicles sectors; IVECO BUS and HEULIEZ, renowned for their mass transit, premium bus and coac h solutions; and IVECO CAPITAL, the Group’s financing arm supporting them all. Iveco Group employs 33,000 people and operates 16 in dustrial sites and 22 R&D centres. Further information is available on the Company’s website www.ivecogroup.com. Slides Presentation The slides presentation of the preliminary quarterly results is being made available on the Company’s website www.ivecogroup.com. Contacts Media: Investor Relations: Francesco Polsinelli, Tel: +39 335 1776091 Federico Donati, Tel: +39 011 0073539 Fabio Lepore, Tel: +39 335 7469007 E-mail: investor.relations@ivecogroup.com E-mail: mediarelations@ivecogroup.com
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Pag. 7 Iveco Group N.V. Condensed Consolidated Income Statement for the three and six months ended 30th June 2026 and 2025 (Unaudited) Three months ended 30th June Six months ended 30th June (€ million) 2026 2025 2026 2025 Net revenues 3,764 3,507 6,592 6,313 Cost of sales 3,262 2,957 5,801 5,300 Selling, general and administrative costs 217 208 418 409 Research and development costs 146 142 275 272 Share of the profit/(loss) of investees accounted for using the equity method 4 6 7 12 Restructuring costs 5 1 8 5 Other income - 6 9 13 Other expenses 17 42 94 129 EBIT 121 169 12 223 Net financial income/(expenses): (70) (68) (113) (105) Financial income 8 41 48 87 Financial expenses 78 109 161 192 PROFIT/(LOSS) BEFORE TAXES 51 101 (101) 118 Income tax (expense) benefit (13) (22) 23 (25) PROFIT/(LOSS) FROM CONTINUING OPERATIONS 38 79 (78) 93 PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (1) (1) 27 1,285 51 PROFIT/(LOSS) FOR THE PERIOD 37 106 1,207 144 PROFIT/(LOSS) FOR THE PERIOD ATTRIBUTABLE TO: Owners of the parent 37 105 1,206 143 Non-controlling interests - 1 1 1 (in €) Basic Earnings/(loss) per Common Share from Continuing Operations 0.14 0.29 (0.30) 0.35 BASIC EARNINGS/(LOSS) PER COMMON SHARE 0.14 0.39 4.53 0.54 Diluted Earnings/(loss) per Common Share from Continuing Operations 0.14 0.28 (0.30) 0.34 DILUTED EARNINGS/(LOSS) PER COMMON SHARE 0.14 0.39 4.51 0.53 Notes: (1) In the three months ended 30th June 2026, this item includes €1 million post-closing adjustment loss on the Fire-Fighting transfer. In the six months ended 30th June 2026, this item also includes the first quarter post-tax profit of Defence business of €32 million and the net gain on the sale of Defence business , recorded in the first quarter, of €1,254 million, net of €12 million costs, after-tax, incurred by Iveco Group for the separation of that business (€14 million before-tax). In the three and six months ended 30th June 2025, this item included the post-tax profit for the period of Defence business of €27 million and €51 million, respectively.
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Pag. 8 Iveco Group N.V. Condensed Consolidated Statement of Financial Position as of 30th June 2026 and 31st December 2025 (Unaudited) (€ million) 30th June 2026 31st December 2025 ASSETS Intangible assets 2,153 2,087 Property, plant and equipment 3,032 3,028 Investments and other non-current financial assets: 281 279 Investments accounted for using the equity method 207 202 Other investments and non-current financial assets 74 77 Leased assets 89 94 Defined benefits plan assets 53 52 Deferred tax assets 715 644 Total Non-current assets 6,323 6,184 Inventories 3,085 2,509 Trade receivables 347 336 Receivables from financing activities 4,749 4,831 Current tax receivables 113 142 Other current receivables and financial assets 427 497 Prepaid expenses and other assets 183 171 Derivative assets 18 14 Cash and cash equivalents 2,514 2,953 Total Current assets 11,436 11,453 Assets held for sale – Discontinued Operations(1) - 1,221 Assets held for sale - Other 5 5 TOTAL ASSETS 17,764 18,863 EQUITY AND LIABILITIES Issued capital and reserves attributable to owners of the parent 2,468 2,760 Non-controlling interests 63 59 Total Equity 2,531 2,819 Provisions: 1,928 1,981 Employee benefits 361 397 Other provisions 1,567 1,584 Debt: 6,146 6,061 Asset-backed financing 3,075 3,166 Other debt 3,071 2,895 Derivative liabilities 32 21 Trade payables 3,817 3,753 Tax liabilities 62 63 Deferred tax liabilities 39 33 Other liabilities 3,209 3,224 Liabilities held for sale – Discontinued Operations(1) - 908 Total Liabilities 15,233 16,044 TOTAL EQUITY AND LIABILITIES 17,764 18,863 Notes: (1) At 31st December 2025, Assets held for sale – Discontinued Operations and Liabilities held for sale – Discontinued Operations included the assets and the liabilities, respectively, of the Defence business classified as a disposal group held for sale and as Discontinued Operations.
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Pag. 9 Iveco Group N.V. Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2026 and 2025 (Unaudited) Six months ended 30th June (€ million) 2026 2025 A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 2,953 3,513 Cash and cash equivalents – included within “Assets held for sale - Discontinued Operations” at beginning of the period 335 - TOTAL 3,288 3,513 B) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES: Profit/(loss) from Continuing Operations for the period (78) 93 Amortisation and depreciation (excluding assets sold under buy -back commitments and operating leases)(a)(b) 348 361 Other non-cash items (6) (15) Dividends received 3 3 Change in provisions (17) (140) Change in deferred income taxes (62) 32 Change in items due to buy-back commitments(a) (15) (15) Change in operating lease items(b) 4 (10) Change in trade receivables (9) 25 Change in inventories (538) (662) Change in trade payables 47 (118) Change in other receivables/payables 22 (153) Change in other non-current assets (21) - Change in receivables from financing activities 83 494 CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM CONTINUING OPERATIONS (239) (105) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS (466) 94 TOTAL (705) (11) C) CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES: Investments in: Property, plant and equipment and intangible assets (excluding assets sold under buy-back commitments and operating leases)(a)(b) (330) (264) Proceeds from the sale of non-current assets (excluding assets sold under buy -back commitments)(a) - 2 Net (cash used in)/proceeds from other current and non-current financial assets 8 111 Other changes(1) 1,492 272 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM CONTINUING OPERATIONS 1,170 121 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS 163 (127) TOTAL 1,333 (6) D) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES: Change in debt and derivative assets/liabilities 148 (546) Dividends paid(2) (1,547) (88) Purchase of ownership interests in subsidiaries (3) (13) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (1,402) (647) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS 100 (3) TOTAL (1,302) (650) Translation exchange differences 36 (48) E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS (638) (715) Less: Cash and cash equivalents of Discontinued Operations at the time of the sale 136 - F) CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 2,514 2,798 Notes: (a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, which includes capital expenditure, depreciation and impairment losses, and related operating activities changes. (b) Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory. (1) In the six months ended 30th June 2026, this item primarily includes the proceeds of €1,615 million from the sale of Defence business. (2) In the six months ended 30th June 2026, this item includes the extraordinary interim dividend distribution of ~€1,550 million on the net proceeds from the sale of Defence business.
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Pag. 10 Iveco Group N.V. Supplemental Condensed Consolidated Income Statement for the three months ended 30th June 2026 and 2025 (Unaudited) (€ million) Three months ended 30th June 2026 Three months ended 30th June 2025 Industrial Activities(1) Financial Services Eliminations Consolidated Industrial Activities(1) Financial Services Eliminations Consolidated Net revenues 3,696 109 (41) (2) 3,764 3,426 113 (32) (2) 3,507 Cost of sales 3,239 64 (41) (3) 3,262 2,921 68 (32) (3) 2,957 Selling, general and administrative costs 197 20 - 217 186 22 - 208 Research and development costs 146 - - 146 142 - - 142 Share of the profit/(loss) of investees accounted for using the equity method 1 3 - 4 1 5 - 6 Restructuring costs 5 - - 5 1 - - 1 Other income - - - - 5 1 - 6 Other expenses 16 1 - 17 41 1 - 42 EBIT 94 27 - 121 141 28 - 169 Net financial income/(expenses): (70) - - (70) (68) - - (68) Financial income 8 - - 8 41 - - 41 Financial expenses 78 - - 78 109 - - 109 PROFIT/(LOSS) BEFORE TAXES 24 27 - 51 73 28 - 101 Income tax (expense) benefit (6) (7) - (13) (16) (6) - (22) PROFIT/(LOSS) FROM CONTINUING OPERATIONS 18 20 - 38 57 22 - 79 PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX (1) - - (1) 27 - - 27 PROFIT/(LOSS) FOR THE PERIOD 17 20 - 37 84 22 - 106 Notes: (1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V. In the three months ended 30th June 2025 Industrial Activities also included the Defence business, classified as Discontinued Operations. (2) Elimination of Financial Services' interest income earned from Industrial Activities. (3) Elimination of Industrial Activities' interest expense to Financial Services.
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Pag. 11 Iveco Group N.V. Supplemental Condensed Consolidated Income Statement for the six months ended 30th June 2026 and 2025 (Unaudited) (€ million) Six months ended 30th June 2026 Six months ended 30th June 2025 Industrial Activities(1) Financial Services Eliminations Consolidated Industrial Activities(1) Financial Services Eliminations Consolidated Net revenues 6,462 212 (82) (2) 6,592 6,162 227 (76) (2) 6,313 Cost of sales 5,768 115 (82) (3) 5,801 5,245 131 (76) (3) 5,300 Selling, general and administrative costs 379 39 - 418 367 42 - 409 Research and development costs 275 - - 275 272 - - 272 Share of the profit/(loss) of investees accounted for using the equity method 2 5 - 7 2 10 - 12 Restructuring costs 8 - - 8 5 - - 5 Other income 9 - - 9 12 1 - 13 Other expenses 93 1 - 94 127 2 - 129 EBIT (50) 62 - 12 160 63 - 223 Net financial income/(expenses): (113) - - (113) (105) - - (105) Financial income 48 - - 48 87 - - 87 Financial expenses 161 - - 161 192 - - 192 PROFIT/(LOSS) BEFORE TAXES (163) 62 - (101) 55 63 - 118 Income tax (expense) benefit 40 (17) - 23 (11) (14) - (25) PROFIT/(LOSS) FROM CONTINUING OPERATIONS (123) 45 - (78) 44 49 - 93 PROFIT/(LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX 1,285 - - 1,285 51 - - 51 PROFIT/(LOSS) FOR THE PERIOD 1,162 45 - 1,207 95 49 - 144 Notes: (1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V. In the six months ended 30th June 2026 and 2025, Industrial Activities also includes Defence business, classified as Discontinued Operations. (2) Elimination of Financial Services' interest income earned from Industrial Activities. (3) Elimination of Industrial Activities' interest expense to Financial Services.
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Pag. 12 Iveco Group N.V. Supplemental Condensed Consolidated Statement of Financial Position as of 30th June 2026 and 31st December 2025 (Unaudited) (€ million) 30th June 2026 31st December 2025 Industrial Activities(1) Financial Services Eliminations Consolidated Industrial Activities(1) Financial Services Eliminations Consolidated ASSETS Intangible assets 2,137 16 - 2,153 2,072 15 - 2,087 Property, plant and equipment 3,030 2 - 3,032 3,026 2 - 3,028 Investments and other non-current financial assets: 94 187 - 281 97 182 - 279 Investments accounted for using the equity method 20 187 - 207 20 182 - 202 Other investments and non- current financial assets 74 - - 74 77 - - 77 Leased assets 16 73 - 89 16 78 - 94 Defined benefits plan assets 53 - - 53 52 - - 52 Deferred tax assets 763 58 (106) (7) 715 587 58 (1) (7) 644 Total Non-current assets 6,093 336 (106) 6,323 5,850 335 (1) 6,184 Inventories 3,084 1 - 3,085 2,508 1 - 2,509 Trade receivables 339 23 (15) (4) 347 332 35 (31) (4) 336 Receivables from financing activities 839 5,492 (1,582) (4) 4,749 726 5,433 (1,328) (4) 4,831 Current tax receivables 156 16 (59) (5) 113 151 26 (35) (5) 142 Other current receivables and financial assets 310 147 (30) (3) 427 368 159 (30) (3) 497 Prepaid expenses and other assets 181 2 - 183 170 1 - 171 Derivative assets 19 2 (3) (6) 18 16 - (2) (6) 14 Cash and cash equivalents 2,333 181 - 2,514 2,795 158 - 2,953 Total Current assets 7,261 5,864 (1,689) 11,436 7,066 5,813 (1,426) 11,453 Assets held for sale - Discontinued Operations(2) - - - - 1,237 - (16) (8) 1,221 Assets held for sale - other 5 - - 5 5 - - 5 TOTAL ASSETS 13,359 6,200 (1,795) 17,764 14,158 6,148 (1,443) 18,863 EQUITY AND LIABILITIES Total Equity 1,732 799 - 2,531 2,014 805 - 2,819 Provisions: 1,831 97 - 1,928 1,884 97 - 1,981 Employee benefits 349 12 - 361 385 12 - 397 Other provisions 1,482 85 - 1,567 1,499 85 - 1,584 Debt: 2,529 5,199 (1,582) (4) 6,146 2,239 5,150 (1,328) (4) 6,061 Asset-backed financing - 3,075 - 3,075 - 3,166 - 3,166 Other debt 2,529 2,124 (1,582) (4) 3,071 2,239 1,984 (1,328) (4) 2,895 Derivative liabilities 34 1 (3) (6) 32 21 2 (2) (6) 21 Trade payables 3,806 26 (15) (4) 3,817 3,751 31 (29) (4) 3,753 Tax liabilities 79 42 (59) (5) 62 66 33 (36) (5) 63 Deferred tax liabilities 144 1 (106) (7) 39 35 - (2) (7) 33 Other liabilities 3,204 35 (30) (3) 3,209 3,224 30 (30) (3) 3,224 Liabilities held for sale - Discontinued Operations(2) - - - - 924 - (16) (8) 908 Total Liabilities 11,627 5,401 (1,795) 15,233 12,144 5,343 (1,443) 16,044 TOTAL EQUITY AND LIABILITIES 13,359 6,200 (1,795) 17,764 14,158 6,148 (1,443) 18,863 . Notes: (1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V. (2) At 31st December 2025, Assets held for sale – Discontinued Operations and Liabilities held for sale – Discontinued Operations included the assets and the liabilities, respectively, of the Defence business classified as a disposal group held for sale and as Discontinued Operations. (3) This item includes the elimination of intercompany activity between Industrial Activities and Financial Services. (4) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services. (5) This item includes the elimination of tax receivables/payables between Industrial Activities and Financial Services and reclassifications needed for appropriate consolidated presentation. (6) This item includes the elimination of derivative assets/liabilities between Industrial Activities and Financial Services. (7) This item includes the reclassification of deferred tax assets/liabilities in the same jurisdiction and reclassifications needed for appropriate consolidated presentation. (8) This item includes the elimination of intercompany transactions between Continuing and Discontinued Operations.
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Pag. 13 Iveco Group N.V. Supplemental Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2026 (Unaudited) Six months ended 30th June 2026 (€ million) Industrial Activities(1) Financial Services Eliminations Consolidated A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 2,795 158 - 2,953 Cash and cash equivalents – included within “Assets held for sale - Discontinued Operations” at beginning of the period 335 - - 335 TOTAL 3,130 158 - 3,288 B) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES: Profit/(loss) from Continuing Operations for the period (123) 45 - (78) Amortisation and depreciation (excluding assets sold under buy -back commitments and operating leases) (a)(b) 347 1 - 348 Other non-cash items (2) (4) - (6) Dividends received 64 - (61) (2) 3 Change in provisions (17) - - (17) Change in deferred income taxes (63) 1 - (62) Change in items due to buy-back commitments(a) (14) (1) - (15) Change in operating lease items(b) - 4 - 4 Change in trade receivables (5) 12 (16) (3) (9) Change in inventories (538) - - (538) Change in trade payables 37 (5) 15 (3) 47 Change in other receivables/payables (14) 35 1 (3) 22 Change in other non-current assets (21) - - (21) Change in receivables from financing activities - 83 - 83 CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM CONTINUING OPERATIONS (349) 171 (61) (239) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS (466) - - (466) TOTAL (815) 171 (61) (705) C) CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES: Investments in: Property, plant and equipment and intangible assets (excluding assets sold under buy -back commitments and operating leases)(a)(b) (329) (1) - (330) Net (cash used in)/proceeds from other current and non-current financial assets 8 - - 8 Other changes 1,495 (3) - 1,492 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM CONTINUING OPERATIONS 1,174 (4) - 1,170 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS 163 - - 163 TOTAL 1,337 (4) - 1,333 D) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES: Change in debt and derivative assets/liabilities 231 (83) - 148 Dividends paid (1,547) (61) 61 (2) (1,547) Purchase of ownership interest in subsidiaries (3) - - (3) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (1,319) (144) 61 (1,402) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS 100 - - 100 TOTAL (1,219) (144) 61 (1,302) Translation exchange differences 36 - - 36 E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS (661) 23 - (638) Less: Cash and cash equivalents of Discontinued Operations at the time of the sale 136 - - 136 F) CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 2,333 181 - 2,514 Notes: (a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, w hich includes capital expenditure, depreciation and impairment losses and related operating activities changes. (b) Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory. (1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units , as well as the holding company Iveco Group N.V., and the Defence business unit (classified as Discontinued Operations). (2) This item includes the elimination of dividends from Financial Services to Industrial Activities. (3) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.
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Pag. 14 Iveco Group N.V. Supplemental Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2025 (Unaudited) Six months ended 30th June 2025 (€ million) Industrial Activities(1) Financial Services Eliminations Consolidated A) CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD 3,326 187 - 3,513 B) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES: Profit/(loss) from Continuing Operations for the period 44 49 - 93 Amortisation and depreciation (excluding assets sold under buy -back commitments and operating leases)(a)(b) 359 2 - 361 Other non-cash items (2) (13) - (15) Dividends received 84 - (81) (2) 3 Change in provisions (141) 1 - (140) Change in deferred income taxes 21 11 - 32 Change in items due to buy-back commitments(a) (7) (8) - (15) Change in operating lease items(b) 1 (11) - (10) Change in trade receivables 31 - (6) (3) 25 Change in inventories (662) - - (662) Change in trade payables (142) 1 23 (3) (118) Change in other receivables/payables (63) (73) (17) (3) (153) Change in receivables from financing activities - 494 - 494 CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM CONTINUING OPERATIONS (477) 453 (81) (105) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS 94 - - 94 TOTAL (383) 453 (81) (11) C) CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES: Investments in: Property, plant and equipment and intangible assets (excluding assets sold under buy-back commitments and operating leases)(a)(b) (263) (1) - (264) Consolidated subsidiaries and other equity investments (12) - 12 (4) - Proceeds from the sale of non-current assets (excluding assets sold under buy -back commitments)(a) 2 - - 2 Net (cash used in)/proceeds from other current and non-current financial assets 111 - - 111 Other changes 203 69 - 272 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM CONTINUING OPERATIONS 41 68 12 121 CASH FLOWS FROM/(USED IN) INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS (127) - - (127) TOTAL (86) 68 12 (6) D) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES: Change in debt and derivative assets/liabilities (78) (468) - (546) Capital increase - 12 (12) (4) - Dividends paid (88) (81) 81 (2) (88) Purchase of ownership interest in subsidiaries (13) - - (13) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM CONTINUING OPERATIONS (179) (537) 69 (647) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES FROM DISCONTINUED OPERATIONS (3) - - (3) TOTAL (182) (537) 69 (650) Translation exchange differences (47) (1) - (48) E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS (698) (17) - (715) F) CASH AND CASH EQUIVALENTS AT END OF THE PERIOD 2,628 170 - 2,798 Notes: (a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, w hich includes capital expenditure, depreciation and impairment losses and related operating activities changes. (b) Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory. (1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Pow ertrain business units, as well as the holding company Iveco Group N.V., and the Defence business unit (classified as Discontinued Operations). (2) This item includes the elimination of dividends from Financial Services to Industrial Activities. (3) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services. (4) This item includes the elimination of paid capital from Industrial Activities to Financial Services.
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Pag. 15 Other Supplemental Financial Information (Unaudited) Reconciliation of EBIT to Adjusted EBIT by business unit (€ million) Three months ended 30th June 2026 Truck Bus Powertrain Unallocated items, eliminations and other Total Industrial Activities Financial Services Eliminations Total EBIT 70 29 38 (43) 94 27 - 121 Adjustments: Restructuring costs 4 - 1 - 5 - - 5 Non-recurring items(1) - - - 5 5 - - 5 Adjusted EBIT 74 29 39 (38) 104 27 - 131 Three months ended 30th June 2025 Truck Bus Powertrain Unallocated items, eliminations and other Total Industrial Activities Financial Services Eliminations Total EBIT 126 42 35 (62) 141 28 - 169 Adjustments: Restructuring costs 3 - (1) (1) 1 - - 1 Non-recurring items(1) - - - 1 1 - - 1 Adjusted EBIT 129 42 34 (62) 143 28 - 171 (1) In the three months ended 30 th June 2026 and 2025, this item included € 5 million and €1 million, respectively, of costs related to certain claims arising from the EU Commission’s 2016 antitrust settlement decision announced on 19th July 2016. Reconciliation of EBIT to Adjusted EBIT by business unit (€ million) Six months ended 30th June 2026 Truck Bus Powertrain Unallocated items, eliminations and other Total Industrial Activities Financial Services Eliminations Total EBIT (4) 30 60 (136) (50) 62 - 12 Adjustments: Restructuring costs 7 - 1 - 8 - - 8 Non-recurring items(1) - - - 56 56 - - 56 Adjusted EBIT 3 30 61 (80) 14 62 - 76 Six months ended 30th June 2025 Truck Bus Powertrain Unallocated items, eliminations and other Total Industrial Activities Financial Services Eliminations Total EBIT 181 68 78 (167) 160 63 - 223 Adjustments: Restructuring costs 6 - (1) - 5 - - 5 Non-recurring items(1) - - - 60 60 - - 60 Adjusted EBIT 187 68 77 (107) 225 63 - 288 (1) In the six months ended 30 th June 2026 and 2025, this item included € 56 million and €60 million, respectively, of costs related to certain claims arising from the EU Commission’s 2016 antitrust settlement decision announced on 19th July 2016.
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Pag. 16 Other Supplemental Financial Information (Unaudited) Reconciliation of Total (Debt) to Net Cash (Debt) (€ million) Consolidated Industrial Activities Financial Services 30th June 2026 31st December 2025 30th June 2026 31st December 2025 30th June 2026 31st December 2025 Third party (debt) (5,939) (5,732) (1,774) (1,500) (4,165) (4,232) Intersegment notes payable(1) - (164) (755) (738) (827) (754) (Debt) payable to CNH(2) (207) (165) - (1) (207) (164) Total (Debt) (6,146) (6,061) (2,529) (2,239) (5,199) (5,150) Cash and cash equivalents 2,514 2,953 2,333 2,795 181 158 Intersegment financial receivables(1) - - 827 738 755 590 Financial receivables from CNH(3) 68 78 12 1 56 77 Other current financial assets(4) 6 3 6 3 - - Derivative assets(5) 18 14 19 16 2 - Derivative liabilities(5) (32) (21) (34) (21) (1) (2) Net Cash (Debt) of Continuing Operations (3,572) (3,034) 634 1,293 (4,206) (4,327) Net Cash (Debt) of Discontinued Operations - 491 - 491 - - Total Net Cash (Debt) (3,572) (2,543) 634 1,784 (4,206) (4,327) (1) As a result of the role played by the central treasury, debt for Industrial Activities also includes funding raised by the ce ntral treasury on behalf of Financial Services (included under Intersegment financial receivables). Intersegment financial receivables for Financial Services, on the other hand, represent loans or advances to Industrial Activities – for receivables sold to Financial Services that do not meet the dereco gnition requirements – as well as cash deposited temporarily with the central treasury. At 31 st December 2025, Intersegment notes payable and Intersegment financial receivables of Industrial Activities and Financial Services also included the balance towards Discontinued Operations. (2) This item includes payables related to purchases of receivables or collections with settlement in the following days. (3) This item includes receivables related to sales of receivables or collections with settlement in the following days. (4) This item includes short-term deposits and investments towards high-credit rating counterparties. (5) Derivative assets and Derivative liabilities include, respectively, the positive and negative fair values of derivative financial instruments. Reconciliation of Cash and cash equivalents of Continuing Operations to total Available liquidity (including Discontinued Operations) (€ million) 30th June 2026 31st March 2026 31st December 2025 Cash and cash equivalents of Continuing Operations 2,514 3,582 2,953 Financial Payables to Discontinued Operations (1) (164) Undrawn committed facilities 1,900 1,900 1,900 Other current financial assets(2) 6 4 3 Financial receivables from CNH(3) 12 12 1 Available Liquidity of Continuing Operations 4,693 Cash and Cash equivalents of Discontinued Operations 335 Financial Receivables from Continuing Operations (1) 164 Available liquidity of Discontinued Operations 499 Available liquidity(4) 4,432 5,498 5,192 (1) At 31st December 2025, Cash and cash equivalents of Continuing Operations included €164 million net balance between cash tempora rily deposited by Discontinued Operations (Defence business) with Iveco Group's central treasury and financial payables of Discontinued Operations towards Financial Services. (2) This item includes short-term deposits and investments towards high-credit rating counterparties. (3) This item includes financial receivables from CNH deriving from financing activities and sale of trade receivables. (4) The amount at 30th June 2026 is after the extraordinary interim dividend distribution of ~€1,550 million, occurred on 22nd April 2026, on the net proceeds from the sale of the Defence business, received in March 2026.
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Pag. 17 Other Supplemental Financial Information (Unaudited) Change in Net Cash (Debt) of Industrial Activities from Continuing Operations (€ million) Six months ended 30th June Three months ended 30th June 2026 2025 2026 2025 1,293 1,579 Net Cash (Debt) of Industrial Activities from Continuing Operations at beginning of the period 2,205 776 14 225 Adjusted EBIT of Industrial Activities 104 143 347 359 Depreciation and amortisation 173 180 105 109 Depreciation of assets under operating leases and assets sold with buy-back commitments 53 53 (117) (135) Financial charges and taxes impact on Net Cash (Debt) (62) (81) (520) (836) Change in working capital(1) (65) 65 (329) (263) Investments in property, plant and equipment, and intangible assets(2) (206) (137) (226) (187) Change in provisions, buy-back and other (42) (104) (726) (728) Free Cash Flow of Industrial Activities from Continuing Operations (45) 119 (1,550) (101) Capital increases, dividends and share buy-backs(3) (1,547) (101) 1,617 11 Currency translation differences and other (4) 21 (33) (659) (818) Change in Net Cash (Debt) of Industrial Activities from Continuing Operations (1,571) (15) 634 761 Net Cash (Debt) of Industrial Activities from Continuing Operations at end of the period 634 761 (1) Change in working capital includes change in: trade receivables, inventories, trade payables, and other receivables/payables. (2) Excluding assets sold under buy-back commitments and assets under operating leases. (3) In the three and six months ended 30th June 2026, this item mainly includes the extraordinary interim dividend distribution of ~€1,550 million, occurred on 22nd April 2026, on the net proceeds from the sale of the Defence business received in March 2026. (4) In the six months ended 30th June 2026, this item mainly includes the proceeds of €1,615 million from the sale of Defence business. Reconciliation of Cash Flows from/ (used in) Operating Activities from Continuing Operations to Free Cash Flow of Industrial Activities from Continuing Operations (€ million) Six months ended 30th June Three months ended 30th June 2026 2025 2026 2025 (239) (105) Cash Flows from/(used in) Operating Activities from Continuing Operations (462) 95 (110) (372) Less: Cash Flows from/(used in) Operating Activities of Financial Services net of eliminations 631 132 (349) (477) Cash Flows from/(used in) Operating Activities of Industrial Activities from Continuing Operations 169 227 (329) (263) Investments in property, plant and equipment, and intangible assets of Industrial Activities (206) (137) (48) 12 Other changes (1) (8) 29 (726) (728) Free Cash Flow of Industrial Activities from Continuing Operations (45) 119 (1) This item primarily includes change in the intersegment financial receivables and capital increases in intersegment investments.
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Pag. 18 Other Supplemental Financial Information (Unaudited) Reconciliation of Adjusted net profit/(loss) from Continuing Operations and Adjusted Income tax (expense) benefit from Continuing Operations to Profit/(loss) from Continuing Operations and to Income tax (expense) benefit from Continuing Operations and calculation of Adjusted diluted EPS from Continuing Operations and Adjusted ETR from Continuing Operations (€ million, except per share data) Six months ended 30th June Three months ended 30th June 2026 2025 2026 2025 (78) 93 Profit/(loss) from Continuing Operations 38 79 64 65 Adjustments impacting Profit/(loss) before taxes from Continuing Operations (a) 10 2 (14) (19) Adjustments impacting Income tax (expense) benefit from Continuing Operations (b) (2) (2) (28) 139 Adjusted net profit/(loss) from Continuing Operations 46 79 (29) 137 Adjusted net profit/(loss) attributable to Iveco Group N.V. from Continuing Operations 46 77 266 268 Weighted average shares outstanding – diluted (million) 268 268 (0.11) 0.51 Adjusted diluted EPS from Continuing Operations (€) 0.17 0.29 (101) 118 Profit/(loss) before taxes from Continuing Operations 51 101 64 65 Adjustments impacting Profit/(loss) before taxes from Continuing Operations (a) 10 2 (37) 183 Adjusted Profit/(loss) before taxes from Continuing Operations (A) 61 103 23 (25) Income tax (expense) benefit from Continuing Operations (13) (22) (14) (19) Adjustments impacting Income tax (expense) benefit from Continuing Operations (b) (2) (2) 9 (44) Adjusted Income tax (expense) benefit from Continuing Operations (B) (15) (24) 24% 24% Adjusted Effective Tax Rate (Adjusted ETR) (C=B/A) from Continuing Operations 25% 23% a) Adjustments impacting Profit/(loss) before income tax (expense) benefit from Continuing Operations 8 5 Restructuring costs 5 1 56 60 Costs related to certain claims arising from the EU Commission’s 2016 antitrust settlement decision announced on 19thJuly 2016 5 1 64 65 Total 10 2 b) Adjustments impacting Income tax (expense) benefit from Continuing Operations (14) (19) Tax effect of adjustments impacting Profit/(loss) before taxes (2) (2) (14) (19) Total (2) (2) Translation of financial statements denominated in a currency other than the Euro The principal exchange rates used to translate into Euro the financial statements prepared in currencies other than the Euro were as follows: Six months ended 30th June 2026 Six months ended 30th June 2025 Average At 30th June At 31st December 2025 Average At 30th June U.S. dollar 1.167 1.139 1.175 1.093 1.172 Pound sterling 0.867 0.862 0.873 0.842 0.856 Swiss franc 0.918 0.922 0.931 0.941 0.935 Brazilian real 6.011 5.910 6.469 6.288 6.422 Polish Zloty 4.243 4.296 4.227 4.232 4.242 Czech Koruna 24.313 24.256 24.237 25.002 24.746 Turkish lira(1) 53.134 53.134 50.331 46.649 46.649 (1) As of 30th June 2022, the Company applied the hyperinflationary accounting in Türkiye, with effect from 1 st January 2022. After 1st January 2022, according to IAS 29, transactions for entities with the Turkish lira as functional currency were translated using the closing spot rate.