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SANLORENZO SANLORENZO S.P.A .: THE BOARD OF DIRECTORS APPROVED THE PERIODIC FINANCIAL INFORMATION AS OF 31 MARCH 2021 NET REVENUES NEW YACHTS AT € 118.0 MILLION , ADJUSTED EBITDA AT € 17.3 MILLION , UP BY 28.4 % 2021 GUIDANCE TARGETING A DOUBLE - DIGIT GROWTH OF ALL MAIN METRICS CONSOLIDATED RESULTS AS OF 31 MARCH 2021 : • • • • Net revenues from the sale of new yachts ( Net Revenues New Yachts ) at € 118.0 million , up by 20.5 % compared to the first quarter of 2020 , driven by a further acceleration in APAC and the Americas , which had already significantly contributed to the outstanding results of the second half of 2020 Adjusted EBITDA at € 17.3 million , up by 28.4 % compared to € 13.5 million in the first quarter of 2020 , with an incidence of 14.7 % on Net Revenues New Yachts , compared to 13.8 % in 2020 , as a confirmation of the reliability of the programme to increase operating margins EBIT at € 12.0 million , up by 36.1 % compared to € 8.8 million in the first quarter of 2020 , with an incidence of 10.2 % on Net Revenues New Yachts Group net profit at € 8.3 million , up by 39.9 % compared to € 5.9 million in the first quarter of 2020 , with an incidence of 7.0 % on Net Revenues New Yachts Investments at € 5.6 million , down by 12.3 % compared to € 6.4 million in the first quarter of 2020 , with an incidence of 4.8 % on Net Revenues New Yachts Net debt position of € 25.9 million , a clear improvement over the figure as of 31 March 2020 , equal to € 60.7 million , and compared to a net cash position of € 3.8 million as of 31 December 2020 , taking into account business seasonality negatively affecting the first quarter 2021 GUIDANCE : DOUBLE - DIGIT GROWTH OF THE MAIN METRICS ( € million , unless otherwise stated ) Actual 2019 2020 Net Revenues New Yachts 455.9 457.7 Adjusted EBITDA 66.0 70.6 Adjusted EBITDA margin ( % of Net Revenues New Yachts ) 14.5 % Group net profit 15.4 % Guidance 2021 530-540 86-88 16.2 % - 16.3 % Change guidance 2021 ( average ) vs actual 2020 + 17 % + 23 % +85 bps 27.0 34.5 43 44 + 26 % Investments 51.4 30.8 42-44 + 40 % Net cash position ( 9.1 ) 3.8 14-16 +11 • Estimates supported by a backlog of € 632.1 million as of 30 April 2021 ( compared to € 408.8 million as of 31 December 2020 ) , which covers about 85 % of the expected revenues for the current financial year Robust pipeline of new products , of which five new models to be presented in 2021 and three new ranges to be launched in 2022 1