Slides
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1 1 9M 2026 Results October 26, 2026 Michele CAVIGIOLI – Head of Finance Maria Beatrice DE MINICIS – Head of Planning and Control
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2 2 • 9M 2026 Results • 2026 Outlook • A resilient business model and a Sustainable Transformation AGENDA
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3 Revenues at €732.8m vs 724.1 in 9M 25 • EBITDA adjusted (excluding non-recurring items1): € 111.8m vs € 103.3m in 9M 2025 • Non-recurring items1: -€ 4.8m in 9M 2026 vs -€ 3.5m in 9M 2025 • Contribution margin € 222.7m (30.4%) vs € 213.8m (29.5%) in 9M 2025 • Fixed costs substantially stable in value and down in % EBITDA at € 107.0m vs €99.8m in 9M 25 EBIT at € 46.8m vs € 46.3m in 9M 25 • EBIT adjusted (excluding non-recurring items1) € 51.6m (7.0%) vs € 49.8m (6.9%) in 9M 2025 lower improvement vs. EBITDA adjusted reflects higher D&A / write-downs, in part one-off FCF2 at € 18.5m vs €15.0m in 9M 25 • Net debt including IFRS16 at end of September 2026 € 23.2m, vs € 56.3m at end 2025NFP2 +€ 18.3m (net cash) vs -€ 19.2m (net debt) Dic ‘25 • Net income of operating activities, including minorities € 27.9m, in line with 2025 (€ 28.3m) • Positive impact from PS disposal of € 7.8m (Capital gain + Net income until sale)Net Income € 33.6m • +0.7% at constant exchange rates (+1.2% at current), growth in most areas offsetting the decline in China and South America 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 NFP excluding IFRS 16 9M 2026: FINANCIAL HIGHLIGHTS • Free Cash Flow including IFRS16 positive at € 14.1m vs €21.6m in 9M 2025 (negative IFRS16 impact due to the renewal of one main rental contract) • At the end of July Sogefi completed the sale of the non-core “Precision Springs” (PS) unit, for a net Enterprise Value of approx. € 21 m, while the cash consideration, including the estimated cash balance at closing, amounted to € 23.5 • PS reported €28.6m revenues and €3.8m EBITDA in FY 2025, with 3 plants (France, NL, UK) Precision Springs business unit sold Net EV € 21.0m
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4 • Global sales: +0.7% at constant FX, +1.4% vs. market production • Europe: +4.8%, thanks to the growth of A&C, in a flat production market • North America: +5.2%, better than the market (-1.8%) • South America: volumes -1 % vs market +6.0% (sales -9.1% at constant FX1, +4.6% at current FX ) • China: -16.8%, reflecting the market decline (-5.5%), Sogefi’s customer mix and the SOP delay of new projects due to the unfavorable Chinese domestic demand • India: +18.5%, overperforming a growing market (+15.6%) 1. at constant FX and excluding Argentina inflation; not very significant comparison in 9M 2026 vs 2025, as inflation was not matched by currency devaluation Source: Sogefi and S&P Global (IHS) data. Passenger cars and Light commercial vehicles only. 9M 2026: SALES BY GEOGRAPHY €m 9M 25 9M26 change constant exchange rates reference market production performance vs market weight based on 9M 26 Europe 27 377.9 394.5 4.4% 4.8% 0.0% 4.8% 53.8% North America 166.5 169.6 1.8% 5.2% -1.8% 7.0% 23.1% South America 82.1 85.9 4.6% -9.1% 6.0% -15.1% 11.7% China 87.1 73.7 -15.3% -16.8% -5.5% -11.3% 10.1% India 11.2 11.8 5.1% 18.5% 15.6% 2.9% 1.6% Intercompany (0.7) (2.7) Total 724.1 732.8 1.2% 0.7% -0.7% 1.4% 100.0%
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5 • Suspensions: -3.8% at constant FX ✓ Europe down -0.9% with Passenger Cars slightly down (-2.0%) and Heavy-Duty up 1.8% thanks to railway and defense ✓ Slight activity contraction in South America (volumes -1%), but -9.1% at constant FX1 ✓ Decline in China (-16.5%) ✓ Strong growth in India (+18.5%) • Air and Cooling: +6.0% at constant FX ✓ Strong performance in A&C’s main market, North America (+5.2%) ✓ Strong over-performance in Europe (+16.2%), thanks to new projects ✓ decline in China, -16.8% 9M 2026: SALES BY BUSINESS UNIT €m 9M 25 9M 26 change constant exchange rates change Air&Cooling 339.8 353.8 4.1% 6.0% Suspensions 383.7 379.5 -1.1% -3.8% Intercompany 0.6 (0.5) Total 724.1 732.8 1.2% 0.7% 1. at constant FX and excluding Argentina inflation; not very significant comparison in 9M 2026 vs 2025, as inflation was not matched by currency devaluation Source: Sogefi and S&P Global (IHS) data. Passenger cars and Light commercial vehicles only.
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6 9M 2025 9M 2026 OUR CUSTOMERS (% of sales)
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7 €m 9M 2025 % 9M 2026 % REVENUES 724.1 100.0% 732.8 100.0% CONTRIBUTION MARGIN 213.8 29.5% 222.7 30.4% Fixed Costs (110.5) -15.3% (110.9) -15.2% EBITDA Adjusted 103.3 14.3% 111.8 15.3% Non Recurring Items (3.5) -0.5% (4.8) -0.7% EBITDA 99.8 13.8% 107.0 14.6% D&A (53.9) -7.4% (59.2) -8.1% Write downs 0.4 0.1% (0.9) -0.1% EBIT 46.3 6.4% 46.8 6.4% Financial results (7.4) -1.0% (6.5) -0.9% Income Tax (10.6) -1.5% (12.4) -1.7% NET INCOME OF OPERATING ACTIVITIES 28.3 3.9% 27.9 3.8% Minority Interest (2.4) -0.3% (2.1) -0.3% Net income from discontinued operations 2.2 7.8 NET INCOME 28.1 3.9% 33.6 4.6% Higher contribution margin in % and value, thanks to effective management of pricing and purchasing in both BUs +€ 5.3m D&A, of which € 3m recurring (related to past higher capex in A&C, with SOP in 2026) and the rest related to higher tooling sales in the period Net Income of operating activities in line with 2025, despite non-recurring items (including one-off D&A/write downs and taxes) Fixed costs substantially stablein absolute value and down in %, despite adverse FX effect Of which € 4.0m Cash Interests 9M 2026 P&L: Sales up, improving margins, fixed costs contained Note: See appendix for definitions of EBITDA/EBIT adjusted Non-recurring items mainly related to warranties in A&C and restructuring Including negative one-off of € 0.9m in 2026 Includes Precision Springs’ net result until end of July and disposal capital gain Mainly project-related write-downs in China Substantial improvement of EBITDA Adjusted
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8 (*) Variances calculated at stable FX (**) Includes exchange rate impact and effect of non recurring tooling sales/amortisation (***) Excluding effect of non recurring tooling amortization 9M 2026: EBIT PERFORMANCE BREAKDOWN VS 9M 25 6.4% on sales 6.9% on sales 7.0% on sales 6.4% on sales (***) ( )
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9 (1) FCF and Net debt excluding IFRS 16; FCF also excludes disposal proceeds, FCF of discontinued activities, fair value of financial instruments and dividends paid, including to minorities 9M 2026 FREE CASH FLOW1: Solid operational performance, net cash position achieved Lower capex due to a different phasing Lower use of factoring (-€ 3.0m) Difference in part due to lower use of factoring Positive Net Cash position after Precision Springs disposal (contributing +€ 21.5m) Operational FCF higher than 2025, despite lower factoring €m 9M 2025 9M 2026 FUNDS PROVIDED BY OPERATIONS 77.0 78.3 Working Capital -7.5 -13.5 Capex (Tangible, Intangibles & IFRS15) -50.4 -46.7 Others -4.1 0.5 FREE CASH FLOW (NET) EX DISPOSAL 15.0 18.5 NET FINANCIAL POSITION 13.9 (18.3) FACTORING 48.7 45.7
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10 SALES (€m) • EBITDA Adjusted growing in absolute value and in %, thanks also to ongoing HD recovery • Contribution margin up, from 29.8% to 30.3%, thanks to business mix evolution and despite energy and raw material inflation • Fixed costs decreasing by 1.3% at constant FX, allowing to maintain a substantially stable ratio on revenues EBITDA Adjusted (€m) excluding non-recurring • Sales down 3.8% at constant FX and net of Argentina inflation (-1.1% at current exchange rates) • In EU Passenger Cars slightly down (-2.0%) and Heavy-Duty up 1.8%, thanks also to railway and defense • Sales up in India (+18.5% at constant FX) • South America -1% in volumes • China down 16.5% at constant FX, in a tough market 12.1% 12.5%EBITDA Margin 9M 2026: SUSPENSIONS
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11 • Sales +6.0% at constant FX (+4.1% at current) • Europe: +16.2% 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 16.8% at constant FX, in a negative market • North America: +5.2% at constant FX (+1.8% at current) • EBITDA Adjusted up in absolute value and in % • Contribution margin up from 29.0% to 30.6%, thanks to business mix evolution and effective management of purchasing prices, despite ongoing inflationary pressures 17.1% 18.4%EBITDA Margin 9M 2026: AIR&COOLING EBITDA Adjusted (€m) excluding non-recurring SALES (€m)
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12 €m Q3 2025 % Q3 2026 % REVENUES 229.3 100.0% 240.3 100.0% CONTRIBUTION MARGIN 67.9 29.6% 74.1 30.8% Fixed Costs (35.5) -15.5% (36.2) -15.1% EBITDA Adjusted 32.4 14.1% 38.0 15.8% Non Recurring Items (0.4) -0.2% (0.5) -0.2% EBITDA 32.1 14.0% 37.5 15.6% D&A (17.4) -7.6% (22.2) -9.2% Write downs - 0.0% (1.0) -0.4% EBIT 14.6 6.4% 14.3 6.0% EBIT Adjusted 15.0 6.5% 14.8 6.2% Financial results (1.7) -0.7% (1.9) -0.8% Income Tax (3.7) -1.6% (3.5) -1.5% NET INCOME OF OPERATING ACTIVITIES 9.3 4.1% 8.9 3.7% Minority Interest (0.8) -0.3% (0.7) -0.3% Net income from discontinued operations 0.9 6.7 NET INCOME 9.4 4.1% 14.9 6.2% Higher contribution margin in %, thanks to effective management of pricing and purchasing in both BUs and temporary mix effect EBITDA Adjusted substantially higher in % and value Fixed costs down in % of sales and -1.7% in absolute value at constant FX EBIT Adjusted, EBIT and Net income from operating activities in line with 2025, despite higher D&A and write downs Sales up 4.8%, +1.2% at constant FX Gain on disposal of Precision Springs +€ 4.8m D&A, of which € 3m recurring (related to past higher capex in A&C, with SOP in 2026) and the rest related to higher tooling sales in the period Mainly write-down of new project in China Note: See appendix for definitions of EBITDA/EBIT adjusted Q3 2026 P&L: Sales up, improving margins, fixed costs contained
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13 13 2026 Outlook 02
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14 • 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 and its impact on inflation, international trade and the supply chain, economic growth, and demand trends. • S&P Global forecasts a weaker Q4 vs. YTD, with full year 2026 global automobile production to decline 1.7%, with a 0.6% decline in Europe and 1.9% in NAFTA, and a steeper decline of 6.4% in China. Growth of 11.4% is expected in India and 4.5% in South America. Global heavy-duty production is expected to grow 2.3%, with a slight recovery in European production as well. • 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 the performance of the first nine months and the market scenario for the fourth quarter of 2026, confirms its forecast of a low-single-digit revenues decline (around -1/2%) and expects Adjusted EBIT to be substantially stable compared to 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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15 MARKET OUTLOOK Expecting a weak Q4 2026 • Low-single digit decline expected in 2026 • Higher than pre-covid level in 2026 thanks to China and India S&P Global (IHS) Oct. 2026 €m Europe 27 0.0% -3.3% -0.6% -18.7% North America -1.8% -2.1% -1.9% -8.1% South America 6.0% -0.1% 4.5% -2.7% China -5.5% -8.4% -6.4% 25.7% India 15.9% -0.5% 11.4% 60.6% Total -0.7% -4.2% -1.7% 2.9% FY 2026 vs FY 2025 FY 2026 vs FY 2019 9M 2026 vs 9M 2025 Q4 2026 vs Q4 2025
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16 16 A Resilient Business Model and a Sustainable Transformation 03
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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 9M 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 9M 2026 obtained new business: ✓ In passenger cars, mainly for stabilizer bars in Europe and China ✓ In the European Heavy-Duty segment 63% of the awards related to E-mobility 41%* of the awards related to E-mobility 9M 2026: NEW CONTRACTS 47% E-MOBILITY1 *. Excluding Heavy Duty
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18 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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19 • 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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20 20 APPENDIX
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21 21 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 September 2025 and to -0.9m € in September 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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22 Figures as of September 30sh 2026 9M 2026: DEBT PROFILE
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23 Environment, Social and Governance
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24 In 9M 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