Slides
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1 1 1H 2026 Results July 27, 2026 Michele CAVIGIOLI – Head of Finance Maria Beatrice DE MINICIS – Head of Planning and Control
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2 2 • H1 2026 Results • A resilient business model and a Sustainable Transformation • 2026 Outlook AGENDA
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3 Revenues at €492.5m vs 494.8 in H1 25 • EBITDA adjusted (excluding non-recurring items1): € 73.8m vs € 70.9m in H1 2025 • Non-recurring items1: -€ 4.3m in H1 2026 vs -€ 3.1m in H1 2025 • Contribution margin € 148.5m (30.2%) vs € 145.9m (29.5%) in H1 2025 • Fixed costs down in value and stable vs H1 2025 in % EBITDA at € 69.5m vs €67.8m in H1 25 EBIT at € 32.5m vs € 31.7m in H1 25 • EBIT adjusted (excluding non-recurring items1) € 36.8m (7.5%) vs € 34.8m (7.0%) in H1 2025 FCF2 at € 13.2m vs €10.9m in H1 25 • Net debt including IFRS16 at end of June 2026 € 51.2m, vs € 56.3m at end 2025. Higher use of factoring + € 6.7m vs. Dic 2025) NFP2 at € 8.3m vs € 19.2m Dic ‘25 • Net income of operating activities, including minorities, stable at € 19.0m (€ 19.0m in H1 2025)Net Income € 18.7m • +0.4% at constant exchange rates (-0.5% at current), growth in Europe and India offsetting the decline in China and South America. North America substantially stable 1. Non-recurring items include restructuring costs for actions already carried out or provisioned as in progress at the end of the period, gains/losses from divestitures and exchange rates, other non operating income/costs, with the exception of write-downs of tangible and intangible assets 2. FCF and Net debt excluding IFRS 16 H1 2026: FINANCIAL HIGHLIGHTS • Free Cash Flow including IFRS16 positive at € 7.5m vs €16.4m in H1 2025 (negative IFRS16 impact due to the renewal of one main rental contract) • Sogefi signed a binding agreement for the sale of its non-core “Precision Springs” (PS) unit, for a net Enterprise Value of approx. € 21 m • PS has 3 plants (France, Netherlands, UK), 2025 revenues of €28.6m and €3.8m EBITDA • Transaction is expected to close by July 2026 Sale of the Precision Springs business unit Net EV € 21.0m
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4 • Global sales at -0.5% vs H1 2025, +0.4% at constant FX, vs. -1.0% market production • Europe: +5.3%, thanks to the growth of A&C, better than the market • North America: -0.5%, in line with the market (-0.7%) • South America: -6.2% at constant FX1, +1.1 at current FX vs a market + 5.8% • China: -12.4%, reflecting the market decline (-5.3%) and the delay in new SOP due to the unfavorable Chinese domestic demand • India: +16.4%, overperforming the market 1. at constant FX and excluding Argentina inflation; not very significant comparison in H1 2026 vs 2025, as inflation was notmatched by currency devaluation Source: Sogefi and S&P Global (IHS) data. Passenger cars and Light commercial vehicles only. H1 2026: SALES BY GEOGRAPHY €m H1 25 H1 26 change constant exchange rates reference market production performance vs market weight based on H1 26 Europe 27 262.2 275.0 4.9% 5.3% -1.4% 6.7% 55.8% North America 112.3 106.1 -5.5% -0.5% -0.7% 0.2% 21.5% South America 54.5 55.1 1.1% -6.2% 5.8% -12.0% 11.2% China 58.5 50.7 -13.3% -12.4% -5.3% -7.1% 10.3% India 7.7 7.7 0.9% 16.4% 13.6% 2.8% 1.6% Intercompany (0.3) (2.1) Total 494.8 492.5 -0.5% 0.4% -1.0% 1.4% 100.0%
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5 • Suspensions: -2.0% at constant FX ✓ Europe up 0.4% with Passenger Cars slightly down (-0.8%) and Heavy-Duty up 3.3% ✓ decline in China (-11.6%) and South America (-6.2%) ✓ India up 16.4% • Air and Cooling: +3.5% at constant FX ✓ better-than-market performance in Europe, +14.9% thanks to new projects ✓ North America substantially stable (-0.5%) ✓ decrease in China, -12.8%, in a difficult market €m H1 25 H1 26 change constant exchange rates change Air&Cooling 232.4 233.6 0.5% 3.5% Suspensions 261.7 259.3 -0.9% -2.0% Intercompany 0.7 (0.4) Total 494.8 492.5 -0.5% 0.4%
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6 H1 2025 H1 2026 OUR CUSTOMERS (% of sales)
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7 (**) Exchange rate impact net of Argentinian inflation (*) Variances calculated at stable FX H1 2026: EBIT PERFORMANCE BREAKDOWN VS H1 25 6.4% on sales 7.0% on sales 7.5% on sales 6.6% on sales
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8 €m H1 2025 % H1 2026 % REVENUES 494.8 100.0% 492.5 100.0% CONTRIBUTION MARGIN 145.9 29.5% 148.5 30.2% Fixed Costs (75.5) -15.3% (74.7) -15.2% EBITDA Adjusted 70.9 14.3% 73.8 15.0% Non Recurring Items 3.1 0.6% 4.3 0.9% EBITDA 67.8 13.7% 69.5 14.1% D&A (36.4) -7.4% (37.1) -7.5% Write downs 0.4 0.1% 0.1 0.0% EBIT 31.7 6.4% 32.5 6.6% EBIT Adjusted 34.8 7.0% 36.8 7.5% Financial results (5.7) -1.2% (4.6) -0.9% Income Tax (6.9) -1.4% (9.0) -1.8% NET INCOME OF OPERATING ACTIVITIES 19.0 3.8% 19.0 3.9% Minority Interest (1.6) -0.3% (1.4) -0.3% Net income from discontinued operations 1.3 1.1 NET INCOME 18.7 3.8% 18.7 3.8% Higher contribution margin in %, thanks to effective management of pricing and purchasing EBITDA Adjusted growing in % and value Group Net Income stable in % and absolute value Fixed costs stable (in % and in absolute value) . Of which € 2.8m Cash Interests H1 2026: P&L EBIT Adjusted growing in % and value (*) For EBITDA/EBIT adjustment definition see appendix Non-recurring items mainly related to warranties and restructuring Including negative one-offs of € 0.9m in 2026 Includes Precision Springs results (not disposal gain). Closing expected by end of July
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9 Note: FCF and Net debt excluding IFRS 16; FCF also excludes disposal proceeds, FCF of discontinued activities (in 2025 -€2,8m), fair value of financial instruments and dividends paid, including to minorities H1 2026: FREE CASH FLOW1 Lower capex due to phasing effect Lower use of factoring (-€ 3.5m) Difference in part due to lower use of factoring €m H1 2025 H1 2026 FUNDS PROVIDED BY OPERATIONS 53.8 53.3 Working Capital -7.5 -13.7 Capex (Tangible, Intangibles & IFRS15) -33.9 -28.9 Others -1.5 2.5 FREE CASH FLOW (NET) EX DISPOSAL 10.9 13.2 NET DEBT 19.3 8.3 FACTORING 54.6 51.1
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10 SALES (€m) • EBITDA Adjusted growing in absolute value and in % • Contribution margin up in % (from 29.7% to 30.5%) and value (+1.8%), thanks to business mix evolution • Fixed costs decreasing by 0.6%, allowing to maintain a substantially stable ratio on revenues, thanks to actions implemented in Europe EBITDA Adjusted (€m) excluding non-recurring • 2025 down 2.0% at constant FX and net of Argentina inflation (-0.9% at current exchange rates) • In EU Passenger Cars slightly down and Heavy-Duty up 3.3% • Sales up in India (+16.4% at constant FX) • South America down -6.2% at constant FX (+1.1% at current FX) • China down 11.6% at constant FX, in a tough market 12.0% 12.9%EBITDA Margin H1 2026: SUSPENSIONS
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11 • In 2026 +3.5% at constant FX (+0.5% at current) • Europe: +14.9% thanks to new projects (ramp up of new EV platform of a premium German OEM and recovery of one of the major customers) • China: down 12.8% at constant FX, in a negative market • North America: -0.5% at constant FX (-5.5% at current exchange) • EBITDA Adjusted up in absolute value and in % • Contribution margin slightly up from 29.1% to 30.0% • Slight increase in fixed costs and amortization ratios, linked to the development of new e-mobility products 17.4% 17.7%EBITDA Margin H1 2026: AIR&COOLING EBITDA Adjusted (€m) excluding non-recurringSALES (€m)
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12 Figures as of June 30sh 2026 H1 2026: : DEBT PROFILE
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13 13 A Resilient Business Model and a Sustainable Transformation 02
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A&C is committed to developing a business portfolio of new products for purely electric vehicles, while continuing to leverage its leadership position on ICE platforms. During H1 2026, A&C: ✓ was awarded with contract renewals in North America with a leading North American manufacturer for the supply of traditional components for both combustion and hybrid engines. ✓ New contracts were also awarded in China for hybrid engines ✓ Concluded a first agreement with major Indian OEM to supply EV cooling plates Suspensions (not impacted by the EV transition) in H1 2026 obtained new business: ✓ In passenger cars, mainly for stabilizer bars in Europe and China ✓ In the European Heavy-Duty segment 61% of the awards related to E-mobility 42%* of the awards related to E-mobility H1 2026: NEW CONTRACTS 53% E-MOBILITY1 1. Excluding Heavy Duty
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15 In H1 2026 changes in the tariff framework were announced, but impacts are still to be assessed. For the time being, management expectations remain in line with the previously released assessment below. Air & Cooling achieved €217m revenues of in the USMCA region in 2025, selling components produced in Canada and Mexico primarily to General Motors, Ford, and Stellantis. Of these, 50% were destined to customer production facilities in Canada and Mexico, and 50% were imported by customers in the United States. Direct impact of tariffs: ✓ Since Sogefi does not directly export to the United States, leaving this task to its customers, and does not produce in the US, thus not being subject to import duties on materials and components there, no significant direct impacts from tariffs are currently being recorded, nor are expected based on current regulation ✓ Moreover, approximately 70% (in value) of components exported to the US are USMCA-compliant and therefore, based on current regulation, are not subject to duties even on Sogefi’s customers ✓ Regarding procurement, since Canada introduced counter-tariffs on steel products, Sogefi's manufacturing operations in Canada are experiencing an increase in the cost of steel components purchased from US suppliers which, however, is not significant at this time Therefore, the direct impact of the tariffs on Sogefi is currently not significant; however, given the high uncertainty on the evolution of the tariff regimes, it cannot be excluded that an impact could arise in the future In the medium term, if the tariffs remain in place, Sogefi could also be exposed to: ✓ the risk of weaker volumes in USMCA and Europe (exports), due to lower demand as a consequence of higher car costs ✓ The risk of increased pressure by OEMs on selling prices ✓ the risk of losing competitiveness vs. competitors producing in the US, due to the tariffs that North American customers may have to pay on products purchased from Sogefi in Canada and Mexico (this risk could be mitigated, if not offset, by the increases in production costs that US competitors could experience due to the tariffs on imported raw materials and components) 2026: MANAGEMENT EXPECTATIONS ON TARIFFS
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16 16 2026 Outlook 03
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17 • Visibility on the automotive market's performance in the coming months is severely impacted by the uncertainties surrounding the geopolitical context, particularly the Middle Eastern situation, which could have significant impacts on macroeconomic trends (inflation, international trade and the supply chain, economic growth, and demand trends). • S&P Global's latest estimate predicts that the global automobile production for the full year 2026 will decline by 2.1%, with a 1.7% decline in production in Europe and -1.3% in NAFTA. Following significant growth in 2025, China will also experience a 4.6% decline. Growth is expected to be 8.6% in India and 2.4% in South America. Global production for the Heavy-Duty segment is expected to decline by 2%, with European production essentially holding steady • Regarding raw material and energy prices, significant increases and higher volatility have been recorded following the escalation of the conflict in the Middle East. • Sogefi considering, first half sales and the weight of Europe and North America in its business portfolio and the current forecasts for the two areas current exchange rates, Sogefi expects for 2026 a low single-digit revenues decline and confirms an Adjusted EBIT margin substantially in line with that recorded in the 2025 financial year. These forecasts are made in a context of considerable uncertainty regarding the evolution of the global geopolitical and macroeconomic scenario and the resulting impacts on production costs and demand. Therefore, scenarios of reduced demand and/or a temporary decline in industrial margins cannot be ruled out. 2026 OUTLOOK
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18 MARKET OUTLOOK Expecting a weak H2 2026 • Low-single digit decline expected in 2026 • Higher than pre-covid level in 2026 thanks to China and India €m Europe 27 -1.4% -1.9% -3.0% -1.7% -19.6% North America -0.7% -2.4% -1.5% -1.3% -7.7% South America 5.8% -0.7% -0.4% 2.4% -4.6% China -5.3% -3.0% -5.0% -4.6% 28.0% India 13.6% 10.8% -2.8% 8.8% 56.5% Total -1.0% -1.8% -4.6% -2.1% 2.4% S&P Global (IHS) July 2026 FY 2026 vs FY 2025 FY 2026 vs FY 2019 H1 2026 vs H1 2025 Q3 2026 vs Q3 2025 Q4 2026 vs Q4 2025
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19 Michele Cavigioli, Head of Finance Stefano Canu, Investor Relations Tel: +39 02 46750214 Fax: +39 02 43511348 Mail: ir@sogefigroup.com CONTACTS
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20 • This document has been prepared by SOGEFI S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. • For further details on the SOGEFI Group, reference should be made to publicly available information, including the Annual Report, the Semi-Annual and Quarterly Reports. • Statements contained in this document, particularly the ones regarding any SOGEFI Group possible or assumed future performance are or may be forward looking statements and in this respect they involve some risks and uncertainties. • Any reference to past performance of the SOGEFI 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 form the basis of or be relied upon in connection with any contract or commitment whatsoever. DISCLAIMER
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21 21 APPENDIX
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22 €m Q2 2025 % Q2 2026 % REVENUES 245.5 100.0% 249.3 100.0% CONTRIBUTION MARGIN 73.5 29.9% 75.7 30.4% Fixed Costs (37.2) -15.2% (37.2) -14.9% EBITDA Adjusted 36.2 14.8% 38.5 15.4% Non Recurring Items 1.5 0.6% 4.2 1.7% EBITDA 34.7 14.1% 34.3 13.8% D&A (18.1) -7.4% (18.3) -7.3% Write downs 0.4 0.2% 0.1 0.0% EBIT 17.0 6.9% 16.0 6.4% EBIT Adjusted 18.5 7.5% 20.2 8.1% Financial results (3.0) -1.2% (2.2) -0.9% Income Tax (4.4) -1.3% (6.0) -2.4% NET INCOME OF OPERATING ACTIVITIES 9.5 3.9% 7.9 3.2% Minority Interest (0.9) -0.4% (0.6) -0.2% Net income from discontinued operations 1.0 0.5 NET INCOME 9.7 4.0% 7.7 3.1% Higher contribution margin in %, thanks to effective management of pricing and purchasing EBITDA Adjusted growing in % and value Fixed costs stable in absolute value) . Q2 2026: P&L EBIT Adjusted growing in % and value (*) For EBITDA/EBIT adjustment definition see appendix Non-recurring items mainly related to to warranties and restructuring Including Negative one-offs Up 0.2% at constant FX
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23 23 I EBITDA/EBIT adjusted definition EBITDA EBITDA Adjusted EBIT Adjusted EBITDA is calculated by adding to EBIT “Depreciation and amortization” and the amount of impairment losses/ reversal of impairment on tangible and intangible assets (equal to €0.4m in June 2025 and to 0 in June 2026) included in the item “Other non-operating costs (revenues)” in the “Consolidated Income Statement” financial statements. Adjusted EBITDA is calculated by adding to EBITDA the items “Restructuring costs,” “Capital losses (gains) on disposals,” “Exchange rate differences (active) passive,” and “Other non-operating costs (revenues)” (with the exception of the amount of write-downs of tangible and intangible fixed assets included therein, as already added to EBITDA) in the “Consolidated Income Statement” financial statements. Adjusted EBITDA therefore represents gross operating profit before all non-recurring items. Adjusted EBIT is calculated by adding to EBIT the items “Restructuring costs,” “Capital losses (gains) on disposals,” “Exchange rate differences (active) passive” and “Other non-operating costs (revenues)” (with the exception of the amount of write- downs of tangible and intangible fixed assets included therein) from the “Consolidated Income Statement” accounting statement.
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24 Environment, Social and Governance