Slides
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FY 2025 PRELIMINARY RESULTS unaudited data
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TODAY’S PRESENTERS 2 CHIEF FINANCIAL OFFICER MARGHERITA SACERDOTI HEAD OF INVESTOR RELATIONS & SUSTAINABILITY MARCO ZAMMARCHI ALBERTO GALASSI CHIEF EXECUTIVE OFFICER TBD
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3 TODAY’S AGENDA Final Remarks4 Q&A 3 2 Key Highlights1 Business Dynamics Financial Results
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Key Highlights 01
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TURNING STRATEGY INTO RESULTS: OUTPERFORMED CONSENSUS & REFERENCE MARKET, WITH FY’25 GUIDANCE FULLY ACHIEVED Key Highlights01 ORDER BACKLOG4 (€mln) REVENUE3 (€mln) ADJ EBITDA1 (€mln) Note: Ferretti Group Bloomberg Consensus FY’25E as of 24th Feb-26: Net Revenue without Pre-Owned €1,209.3mln, Ebitda Adj. €199.1,. Reference Market: Value of Production -3% YoY based on VOP by Phil Draper Associates Database. 1. Adjusted EBITDA equals to EBITDA adding back non-recurring costs; 2. Calculated as Adj. EBITDA/Revenue without Pre-Owned; 3. Revenue without Pre-Owned 4. Order Backlog: represents the total amount of existing orders, net of commissions, for new vessels not yet delivered to customers. ADJ EBITDA margin2 (%) 5 1,111 1,173 1,232 2023 2024 2025 +5.0% 2023 2024 16.5% 2025 +30bps 15.2% 1,491 1,664 1,716 2023 2024 2025 +3.1% 169 190 203 2023 2024 2025 +6.7% 16.2% Guidance €201 – €207mln ✓ Guidance €1,220 – €1,240mln ✓ Guidance 16.5% - 16.7% ✓
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Business Dynamics 02
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• Miami International Boat Show: +16% boat owners' visitors in 2026 vs 2025 • Düsseldorf Boat Show: +2% boat owners' visitors in 2026 vs 2025 7 Hong Kong Int. Boat Show December Monaco Yacht Show September Cannes Int. Boat Show September Monaco Private Preview September Ft Lauderdale Int. Boat Show October Genova Salone Nautico October Sydney Int. Boat Show November BOAT SHOWS AND EXCLUSIVE PRIVATE PREVIEW IN 2026 ✓ ✓ Palm Beach Int. Boat Show March Miami Int. Boat Show Feb 11-15 Venice Boat Show May Dubai Int. Boat Show April Business Dynamics02 Already took place in 2026 ✓ The Fort Lauderdale Boat show opened the American nautical season that showed a strong demand in Q4’25 The start of 2026 at the Düsseldorf & Miami Boat shows reflects a high-quality client profile with a significant presence of boat owners from both FG & peers' clients: In line with the strategy, Ferretti Group has limited its participation in local and small boat shows to control costs and support the Group’s profitability BOAT SHOWS & MARKET OUTLOOK: SUPPORTING PROFITABILITY Düsseldorf Boat Show Jan 17-25
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-5.9% 2025 vs 2024 FG OUTPERFORED THE MARKET, STRENGTHENING ITS COMPETITIVE POSITION CAGR ’21A-’24A (2) Source and Notes: Phil Draper & Associates Database as of Q3 2025 on FY 2025 estimates and FY 2024 actual database; 1) Classification based on Value of Production by Phil Draper Associates, as of Q3 2025 for Composite (>30 ft) & Made-to- Measure yachts; Note: Market refers to inboard Composite & Made-To-Measure Yachts, excluding alloy Super Yachts; numbers might not sum-up due to rounding. 2) CAGR 21-24: Phil Draper & Associates Database (2025 Q3) and internal elaboration 8 2024 5,121 1,903 2025 <30mt >30mt 3,873 1,002 2021 4,977 1,530 2022 5,210 1,701 2023 5,440 1,812 4,875 6,507 6,911 7,252 7,024 14.2% -3.1% MARKET SIZE BY LENGTH CATEGORY, IN TERMS OF VOP (in €mln) based on Phil Draper & Associates Database(1) In a market where total VOP declined by ca. 3% YoY (from €7.2bn in 2024 to €7.0bn in 2025), Ferretti Group outperformed, strengthening its competitive position and delivering revenue growth of 5% in FY’25 vs. FY’24 02 Business Dynamics +5.0% 2025 vs 2024
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GLOBAL YACHT MARKET (VOP from 30ft up to +100ft in fiber glass and carbon fiber)1 Source: Phil Draper & Associates Database as of Q3 2025 on FY 2025 estimates and FY 2024 actual database. 1) Classification based on Value of Production by Phil Draper Associates, as of Q3 2025 for Composite (>30 ft) & Made-to-Measure yachts; 2) Large Composite refers to 80-99 ft yachts; 3) Made-to-Measure refers to 100ft+ yachts (not including Super Yachts); Note: Market refers to inboard Composite & Made-To-Measure Yachts, excluding Super Yachts; numbers might not sum-up due to rounding AZIMUT-BENETTI PRINCESS YACHTSSANLORENZO SUNSEEKER Market share delta vs. 2024x% 9 FERRETTI GROUP IS THE MARKET LEADER IN COMPOSITE AND MADE TO MEASURE 16.8% 13.5% 9.3% 5.3% 3.8% #1 in most profitable segments: • 27.1% market share in Large Composite2 • 22.8% Market Share in Made-to-Measure3 02 +2.3% -0.3% +0.9% -0.7% -1.8% Business Dynamics Not Including Super Yachts
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2025E GLOBAL INBOARD MARKET BY PLAYER, VOP1 % Focus On Composite (>30 ft) & Made-to-Measure Yachts Not Including Super Yachts 9.1% 18.1% 45.3% 71.8% 62.6% COMPOSITE YACHTS MADE-TO- MEASURE3 80-99ft2 100ft+230-59ft 60-79ft 10 STRENGTHENING LEADERSHIP IN THE MOST PROFITABLE SEGMENTS n.2 n.1 Ex aequo n.1 n.1 5.3% 5.8% 0.6% 4.6% 1.8% 12.9% 12.9% 5.9% 8.1% 5.5% 27.1% 13.5% 16.2% 9.4% 5.6% 22.8% 21.8% 15.0% 3.0% Azimut-Benetti Princess Yachts Sunseeker Yachts Sanlorenzo 02 HIGH-COMPOSITE YACHTS2 Consolidated Market Consolidated Market Top 5 players Market Share data as of 2025E Source: Phil Draper & Associates Database 2025 Q3; 1) Classification based on Value of Production by Phil Draper Associates, as 2025 Q3 for Composite (>30 ft) & Made-to-Measure yachts; 2) High-Composite refers to 80-99 ft yachts; 3) Made-to-Measure refers to 100ft+ yachts (not including Super Yachts); Note: Market refers to inboard Composite & Made-To-Measure Yachts, excluding Super Yachts; numbers might not sum-up due to rounding. Business Dynamics
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2024A 2025A Repetitive clients New clients - from competitors New clients - first owners CATERING TO A DIVERSE, LOYAL AND GROWING CUSTOMER BASE 153 159+4% NUMBER OF CLIENTS PURCHASING ONE OR MORE YACHTS IN THE REFERENCE YEARS 46% 57% x% 47% CROSS-SELLING ACROSS BRANDS1 02 11 27% 49%44% 23% 33% 24% Revenues generated by repetitive clients cross FG over the sum of repetitive clients cross FG + Brand repetitive clients Source: Company information based on the number of customers who purchased a yacht in the relevant period excluding confidential customers for whom data cannot be disclosed. 1) Calculated as the number of repeating customers that purchased at least two different brands within the Ferretti Group over the sum of total repeating customers (both cross FG and loyal to a Brand) in the relevant period. Calculation excludes confidential/restricted clients – Grand Total Revenue per each year referred to the sum of revenues generated by FG customers excluding confidential ones. Business Dynamics 42% CROSS-SELLING ACROSS BRANDS1
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IN 2025 13 PRODUCTS SPLASHED OF WHICH 5 RANGE EXPANSION Business Dynamics02
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13 RANGE UPDATE Riva Iseo Super 11 units sold Riva 112 Dolcevita Super 9 units sold Aquariva Special 17 units sold RANGE EXPANSION Riva 58 Capri 1 unit sold Riva 54m 4 units sold Business Dynamics02 Riva Cento 11 units sold LIMITED EDITION LAUNCHED
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RANGE EXPANSIONRANGE EXPANSIONRANGE UPDATE Pershing GTX70 4 units sold FY 720 new 1 unit sold Business Dynamics 14 02 FY 940 10 units sold FY 800 12 units sold Itama 54 4 units sold
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15 M/Y Amor a Vida (67m) Business Dynamics02 FULL CUSTOM
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Business Dynamics02 RANGE EXPANSION wallyrocket71 1 unit sold 16
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IN 2025 2 PRODUCTS ANNOUNCED TO BE SPLASHED IN 2026 Business Dynamics02
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RANGE UPDATE Business Dynamics 18 02 Custom Line Saetta 128’ 2 units sold RANGE EXPANSION Custom Line Navetta 35 2 units sold
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Financial Results 03
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✓ In FY’25 Composite + Made-to- measure avg. ticket increased to €5.1mln vs. 4.6mln in FY’24 ( +11% YoY) Financial Results03 Source: Company Information. Order Backlog represents the total amount of existing orders, net of commissions, for new vessels not yet delivered to customers. Net Backlog is calculated as the total orders in portfolio not yet delivered net of revenues already booked. 1,664 1,498 1,716 31 Dec. 2024 30 Sept. 2025 31 Dec. 2025 +3.1% +14.5% 829 613 In 2026 Beyond 2026 20 ✓ ✓ 216 ORDER BACKLOG (€mln) NET BACKLOG (€mln) SOUND 2026 REVENUE VISIBILITY 795 30 Sept. 2025 31 Dec. 2025 +4.3% Order Backlog double-digit growth (+14.5%) and Net Backlog +4.3% vs 30 Sept. 2025, reflecting the outstanding order intake, especially in high composite and Made-to-Measure In 2025 collected ca. €1,137 of orders corresponding to 214 units, while deliveries reached 225 units. This trend confirms the shift toward larger size models (above 80ft) Net Backlog provides already a good visibility for 2026 with ca. €613mln vs €534mln in 2025 (as of 31 Dec-24 Net Backlog) driven by the excellent product mix ✓
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ORDER INTAKE RAMPED-UP IN H2’25 ORDER INTAKE1 (€mln) . 1,137 366 271 197 304 Q1 Q2 Q3 Q4 1,120 1,139 1,137 2023 2024 2025 -0.2% Financial Results03 ✓ ✓ Order intake FY’25 in line with FY’24, despite the large gap in Super yacht order collection in 2025 (€295mln in FY’24 vs €66mln in FY’25) H2’25 new orders’ collection show a clear return of clients’ trust after an H1’25 characterized by uncertainty FY’25 Made-to-Measure and Super Yachts Book-to-Bill ratio (12months rolling) at 1.0x1, including composite segment equals to 0.9x2 ✓ Source: Company Information. Order Intake represents the total amount of new orders signed, net of commissions, for new vessels. 1. Calculated as Order Intake 12months rolling (excl. Composite and Other*) /Revenue without Pre-Owned 12months rolling (excl. Composite and Other*). Other*:including Ancillaries, FSD, Wally sail. 2. Calculated as Order Intake 12months rolling / Revenue without Pre-Owned 12months rolling. 21 As of today, ongoing negotiations amount to ca. €580mln ✓
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Financial Results03 MTM LEADING ORDER INTAKE: +47% FY’25 vs FY’24 and +98% Q4’25 vs Q4’24 breakdown as % of total NOTE: Segment sums might not add up to total due to rounding. Composite Yachts Made-to-measure Yachts Super Yachts *including Wally sail 295 415 608 426 458 4 2024 4 2025 1,139 1,137 66 Other* 40% 54% 6% 37% 36% 26% -77.6% +7.6% +46.7% +2.5% ✓ ✓ % of change YoY Excellent product mix, delivering record- high Order Intake for Made-to-measure (+47% YoY and +98% Q4’25 vs Q4’24), thanks to the attractiveness of newly launched models ✓ Solid performance of Composite (+7.6% YoY and +30.4% Q4’25 vs Q4’24), with more than 50% coming from models over 80ft SY orders equal to 2 branded Super Yacht (in 2024 3 branded and 2 Bespoke SY) reflecting the full capacity utilization in this segment and the first available delivery slot in 2029 ORDER INTAKE (€mln) 22
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Financial Results03 AMERICAN NAUTICAL SEASON: +22% FY’25 vs FY’24 and +209% Q4’25 vs Q4’24 NOTE: Segment sums might not add up to total due to rounding. The geographical breakdown refers to the dealer's area of exclusivity or by the customer's nationality. -21.8% +22.0% +3.0% AMAS Europe MEA +28.5% APAC 222 271 340 266 559 19 2024 576 24 2025 1,139 1,137 ✓ 24% 51% 23% 2% 20% 49% 30% 2% breakdown as % of total % of change YoY ✓ ✓ Sound performance in Europe driven by growing demand from Made-to-measure MEA delivered strong results in the MtM and Composite segments, while the overall YoY comparison suffered from last year’s order intake that included 3 Super yachts AMAS delivered double-digit growth (+22% YoY and +209% Q4’25 vs Q4’ 24), with the start of the American nautical season supporting demand in the Composite and with a continue improving performance of the Made- to-Measure segment ORDER INTAKE (€mln) 23
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REVENUE OVERPERFORMED THE MARKET €mln and breakdown as % of total +28.1% -11.4% +18.4% Composite Yachts Made-to-measure Yachts Super Yachts +3.7% Other* *including Ancillaries, FSD, Wally sail 149 190 418 495 548 486 59 2024 61 2025 1,173 1,232 % of change YoY 39% 40% 15% 5% 47% 36% 13% 5% NOTE: Segment sums might not add up to total due to rounding. ✓ ✓ Revenue recorded a mid-single-digit growth of 5.0% YoY, supported by a solid order backlog, overperforming the reference market Main contribution in the revenue growth coming from Made-to-measure: • €494.6mln in FY’25 vs €417.8mln in FY’24 (+18.4%) and Super yacht: • €190.3mln in FY’25 vs €148.6mln in FY’24 (+28.1%) Financial Results03 ✓ On the top of Net Revenue New Yachts, the group collected €48.8mln from its pre-owned business, resulting in total Revenue of €1,280.6mln 24
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Financial Results03 ADJ EBITDA & NET PROFIT 169 190 203 15.2% 16.2% 16.5% 2023 2024 2025 84 88 90 7.5% 7.5% 7.3% 2023 2024 2025 ADJUSTED EBITDA (€mln & %1) NET PROFIT (€mln & %2) 1. Calculated as Adj. EBITDA/Revenue without Pre-Owned; Note: Adjusted EBITDA equals to EBITDA adding back non-recurring costs; 2. Calculated as Net Profit/Revenue without Pre-Owned ✓ ✓ Increase in profitability with an Adj EBITDA margin up at 16.5% (+30bps YoY) Solid growth for the Adj. EBITDA of c. €12.8mln, up about 6.7% YoY 25
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Financial Results03 CAPEX Source: Company Information. Note that Capex includes R&D expenses; 1. Calculated as Maintenance Capex / Revenue without Pre-Owned. Based on illustrative management definition of Maintenance Capex. 2. Calculated as (Adj. EBITDA – Maintenance Capex) / Adj. EBITDA. ✓ CASH CONVERSION2 (%) 86.5% MAINTENANCE CAPEX RATIO1 (%) 2.1% 23 32 31 124 109 58 2023 2024 2025 147 141 89 83.4% 2.7% Expansion Maintenance 2.5% 84.8% Capex FY’25 in line with guidance (~90) More than 50% of FY’25 capex allocated to R&D to strengthen the appeal of our product portfolio and launch of new models Production capacity already increased thanks to 2022-24 capex plan, bringing the overall utilization rate to 76.5% ✓ ✓ 26
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Financial Results03 NET FINANCIAL POSITION & NWC NET FINANCIAL POSITION1 (€mln) NWC RATIO (%)2 Source: Company Information. 1. NET CASH/ (NET DEBT). 2. NWC / 12Months rolling Revenues without Pre-Owned. 55 102 65 Q1’25 Q2’25 Q3’25 111 Q4’25 17.5% ✓12.5% 15.9% ✓13.1% The Net Cash Position increased of c. €46mln, thanks to the release of Net Working Capital, supported by the seasonal deliveries and in the new advance payments of the order intake 27
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Final Remarks 04
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Final Remarks04 FINAL REMARKS & MARKET OUTLOOK 29 ✓ ✓ Growing Market and Rising Demand Clients’ trust and interest rebounded strongly in the second half of 2025 after early-year uncertainty, driving increasing demand and new orders, supported also by the start of the American Nautical Season. This momentum carried into 2026, with continued positive engagement at the Düsseldorf and Miami Boat Shows ✓ Unique Business Model: Wide offer, brand identity and global presence (+70 countries) continue to enhance client demand: Ferretti Group’s extensive global presence in over 70 countries, combined with a wide product range from 8m to 95m and 7 brands, continues to support Order Intake capturing opportunities worldwide Ongoing increasing presence in the most profitable segments (above 80ft): Excellent orders’ mix with an increasing presence in the most profitable segments (>80ft): 54% of FY’25 Order Intake in the Made-to-Measure segment (vs. 36% in FY’24), and over 50% of new orders in the composite segment came from yachts larger than 80ft
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Below 80ft (Composite) Above 80ft (high composite & MtM) Net Revenue (€mln) CONSISTENT GROWTH SINCE 2014 % EBITDA Adj. Margin 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue1 CAGR FY’14 – FY’25: 14.4% MARKET SHARES2 281 360 475 507 578 607 572 851 996 1,111 1,173 11.1% 11.6% 9.2% 10.2% 10.3% 12.0% 14.1% 15.2% 16.2% 1.8% Note: 1.Revenue without Pre-Owned 2. Phil Draper & Associates Database 13% -8.0% 5% 5% 22% 2025 1,232 16.5% 25% 9% 04 Final Remarks Sound organic growth since Dual Listing on Borsa IT (2023) ✓ ✓ 30
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Q&A
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Appendix
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Appendix +38.2% +10.1% -8.9% AMAS Europe APAC-48.0% 271 298 269 372 594 541 2024 2025 1,232 21 1,173 40 24% 44% 30% 2% 23% 51% 23% 3% €mln and breakdown as % of total % of change YoY MEA NOTE: Segment sums might not add up to total due to rounding. The geographical breakdown refers to the dealer's area of exclusivity or by the customer's nationality. REVENUE BY GEOGRAPHY 33
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Appendix – Reconciliation tables with FY940 classified in Made-to-measure segment Order Backlog 1 - segment Q1 24 H1 24 9M 24 FY 24 Q1 25 H1 25 9M 25 FY 25 Composite 483.8 328.7 273.0 365.8 395.8 225.2 201.5 275.3 Made-to-measure 617.4 589.4 485.1 554.3 589.9 490.8 600.8 732.7 Super Yachts 485.6 521.9 531.5 704.1 740.7 689.0 688.4 702.1 Other 56.7 55.8 36.8 39.7 42.2 41.0 7.2 5.6 Total 1,643.4 1,495.8 1,326.3 1,663.9 1,768.6 1,446.0 1,497.9 1,715.7 ORDER BACKLOG BREAKDOWN 2024 & 2025 NOTE: 1.The Ferretti Yacht 940 model that was originally under the composite yachts segment had been reclassified under the Made-to-measure yachts segment starting from Q2’25 financial reporting; Sums might not add up to total due to rounding. 34
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35 Appendix – Reconciliation tables with FY940 classified in Made-to-measure segment Appendix – reconciliation table with FY940 in made-to-measure segment NOTE: 1.The Ferretti Yacht 940 model that was originally under the composite yachts segment had been reclassified under the Made-to-measure yachts segment starting from Q2’25 financial reporting; 2. Sums might not add up to total due to rounding. Order Intake1-2 - segment Q1 24 H1 24 9M 24 FY 24 Q1 25 H1 25 9M 25 FY 25 Composite 103.9 161.6 288.2 425.9 89.6 160.9 278.8 458.4 Made-to-measure 98.6 256.3 321.5 414.6 144.1 237.8 423.9 608.1 Super Yachts 64.0 96.5 127.3 294.9 33.1 64.9 64.2 66.1 Other 0.0 0.0 0.0 4.0 3.8 3.8 4.1 4.1 Total 266.6 514.4 736.9 1,139.3 270.6 467.3 770.9 1,136.6 ORDER INTAKE BREAKDOWN 2024 & 2025 Order Intake2 - region Q1 24 H1 24 9M 24 FY 24 Q1 25 H1 25 9M 25 FY 25 Europe 122.0 182.0 286.6 559.0 77.3 181.1 379.2 576.0 MEA 102.8 167.2 237.2 339.5 80.2 130.6 176.8 265.6 APAC 0.8 7.0 14.2 18.6 10.5 12.8 16.1 23.9 AMAS 40.9 158.2 198.9 222.2 102.6 142.8 199.0 271.1 Total 266.6 514.4 736.9 1,139.3 270.6 467.3 770.9 1,136.6
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REVENUE NEW YACHTS BREAKDOWN 2024 & 2025 36 Revenue New Yachts1-2 - segment Q1 24 H1 24 9M 24 FY 24 Q1 25 H1 25 9M 25 FY 25 Composite 145.0 265.0 385.2 548.1 123.1 234.4 322.2 485.8 Made-to-measure 120.1 233.1 318.6 417.8 146.5 253.1 362.8 494.6 Super Yachts 36.1 82.5 116.8 148.6 46.3 104.4 155.6 190.3 Other 11.8 30.4 44.7 58.8 12.6 28.5 46.6 61.0 Tot Revenue New Yachts 313.0 611.0 865.3 1,173.3 328.5 620.4 887.2 1,231.7 Revenue New Yachts2 - region Q1 24 H1 24 9M 24 FY 24 Q1 25 H1 25 9M 25 FY 25 Europe 163.0 313.0 438.5 593.5 130.9 250.7 373.9 540.5 MEA 63.9 112.8 165.6 269.3 113.5 219.9 286.4 372.3 APAC 12.7 23.9 33.8 39.6 5.7 9.7 15.0 20.6 AMAS 73.3 161.3 227.4 270.9 78.3 140.1 211.8 298.3 Tot Revenue New Yachts 313.0 611.0 865.3 1,173.3 328.5 620.4 887.2 1,231.7 Appendix – Reconciliation tables with FY940 classified in Made-to-measure segment NOTE: 1.The Ferretti Yacht 940 model that was originally under the composite yachts segment had been reclassified under the Made-to-measure yachts segment starting from Q2’25 financial reporting; 2. Sums might not add up to total due to rounding.