Earnings release
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FERRETTI SPA APPROVES THE CONSOLIDATED FINANCIAL RESULTS AS OF 30 SEPTEMBER 20261 FERRETTI GROUP RETURNS TO GROWTH IN Q3: ORDER INTAKE UP 6.6% AND REVENUE UP 13.6%, DRIVEN BY STRONG EUROPEAN BOAT SHOW MOMENTUM • Order Intake. Thanks to an increase of 6.6% in Q3’26, Order Intake of 9M’26 was down 13.8% to €664.9 million, showing an improving trend compared to the -26.9% recorded in H1’26. • Net Revenue. The increase of 13.6% in the 3Q’26 allowed a recovery compared to H1’26: Net Revenue of 9M’26 amounted to €888.6 million, up 0.2% compared to the same period of the previous year. • Net Backlog. Supported by the progressive improvement in Order Intake, Net Backlog stood at €571.4 million, showing a +1.2% increase compared to H1’26. • Adjusted EBITDA: Adj. EBITDA amounted to €130.6 million in 9M’26, compared to €141.7 million in 9M’25, with an Adj. EBITDA margin of 14.7%, compared to 16.0% mainly reflecting the evolution of the sales mix and some operational inefficiencies that emerged during the third quarter. • Net Profit. For 9M’26, Net Profit amounted to €49.9 million compared with €61.0 million in 9M’25. • Net Financial Position (net cash). Consistently with usual business seasonality, NFP stood at €42.3 million as of 9M’26, compared with €95.0 million as of H1’26. • 2026 Guidance. The Group confirms its Net Revenue guidance (range: €1,200–1,240 million) and Capex (range: €60.0–65.0 million). Profitability expectations have been revised (new Adjusted EBITDA range: €174–185 million; Adjusted EBITDA margin range: 14.5%–14.9%) to reflect the most recent trend. Forlì, 27 October 2026 – The Board of Directors of Ferretti S.p.A. reviewed and approved the Consolidated Periodic Financial Information as of 30 September 2026. Mr. Stassi Anastassov, the Group’s Global Chief Executive Officer, stated: “The third quarter demonstrated the strength of our brands, our products and our people. Following a challenging first half, order intake returned to growth and revenues improved, reinforcing our confidence in our 2026 revenue guidance. 1The figures presented are unaudited. Percentage figures may be subject to rounding.
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But growth alone is not enough. Our profitability remains below the level Ferretti Group can and should deliver. We are therefore revising our margin guidance and implementing a concrete performance improvement plan focused on strengthening value -based pricing, improving product mix, increasing industrial efficiency and optimising the utilisation of our shipyards. We are also taking targeted action in three areas where our performance must improve: the Americas, the Middle East and our Super Yacht business. Each has a dedicated program. Geopolitical uncertainty and longer customer decision -making cycles continue to affect our business. We remain realistic about these challenges, but they will not diminish our ambitions. Our commitment is to create exceptional yachts that owners are willing to pay a premium for, through superior design, innovation, quality and owner experience. That is how we will strengthen our competitiveness and restore sustainable profitability. We cannot control geopolitics or market conditions. But we can control our decisions, our ambition and our execution. We will not wait for the world to become more predictable. Our future will be shaped by our own actions.” RESULTS FOR THE FIRST NINE MONTHS OF 2026 The consolidated key financial highlights for the first nine months of 2026 are as follows: EUR million Data as of 30 September 9M’26 (unaudited) 9M’25 (unaudited) Change 9M’26 vs. 9M’25 Net revenue new yachts 888.6 887.2 +0.2% EBITDA adj 130.6 141.7 -7.8% Net Profit 49.9 61.0 -18.2% EUR million 30 Sept ’26 (unaudited) 30 Jun ’26 (unaudited) Change in €mln Net financial position - net cash 42.3 95.0 -52.7
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Order intake, Order backlog and Revenue overview Order intake Order Intake for the first nine months of 2026 amounted to € 664.9 million, down 13.8% from € 770.9 million in the corresponding period of 2025. The period was impacted by the radical change in the geopolitical and macroeconomic environment, which is now c haracterised by persistent uncertainty leading to longer negotiation times, particularly for “Made -to-Measure” and “Super Yacht” orders and in the MEA region. However, a more detailed analysis of the period as a whole shows a progressive improvement: the decline recorded in the first quarter ( -33.6%) almost halved in the second quarter ( -17.8%) and turned into 6.6% growth in the third quarter, when Order Intake reached €323.6 million, compared with € 303.6 million in the corresponding period of the previous year. The increase, also against a particularly strong third quarter of 2025 (+36.4%), reflects the significant commercial efforts undertaken by the Group both globally – including, for example, the new warranty program offering one additional year of coverage – and in connection with the European boat shows. Order intake by segment The following table shows the breakdown of order intake by segment: Million euros Order intake by segment 9M’26 (unaudited) % of total order intake 9M’25 (unaudited) % of total order intake Change 9M’26 vs. 9M’25 Composite yachts 357.3 53.7% 278.8 36.2% +28.2% Made-to-measure yachts 290.4 43.7% 423.9 55.0% -31.5% Super yachts 0.0 0.0% 64.2 8.3% n.m.2 Other businesses 17.1 2.6% 4.1 0.5% n.m. Total 664.9 100.0% 770.9 100.0% -13.8% Composite Yachts Order Intake reached € 357.3 million, up 28.2% compared with € 278.8 million in the first nine months of 2025. The growth recorded in the first part of the year (+6.1%) accelerated significantly in the third quarter: the appeal of the new models launched on the market was further supported by the commercial initiatives undertaken during the period, resulting in a 2 n.m.= not meaningful
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58.3% increase in Order Intake to € 186.6 million, compared with € 117.9 million in the corresponding period of 2025. In the Made-to-Measure Yachts segment, Order Intake amounted to € 290.4 million, down 31.5% compared with € 423.9 million in the first nine months of 2025. This segment was undoubtedly the one most affected by the change in the geopolitical and macroeconomic environment, which resulted in a slowdown in the conversion of ongoing negotiations into orders. Indeed, the periods of heightened geopolitical turbulence, namely the first and third quarters of the year, were those that recorded the sharpest declines, of 42.1% and 34.9%, respectively. Bearing in mind that the first nine months of the previous year benefited from the signing of two contracts relating to yachts with a total value of €64. 2 million, which are currently under construction, Order Intake in the Super Yachts segment was also affected by longer negotiation times, and none of the preliminary agreements has yet translated into an order. In the Other Businesses segment, Order Intake totalled €17.1 million in the first nine months of 2026, compared with €4.1 million in 2025. The significant increase reflects the signing, in the 3rd quarter, of a contract relating to a Wally sailing yacht with a distinctly sporty character. Order intake by geographic area3 The following table shows the breakdown of order intake by geographic area: Million euros Order intake by geographic area 9M’26 (unaudited) % of total order intake 9M’25 (unaudited) % of total order intake Change 9M’26 vs. 9M’25 Europe 386.2 58.1% 379.2 49.2% +1.8% MEA 112.2 16.9% 176.8 22.9% -36.5% APAC 51.6 7.8% 16.1 2.1% +220.5% AMAS 115.0 17.3% 199.0 25.8% -42.2% Total 664.9 100.0% 770.9 100.0% -13.8% In Europe, Order Intake reached €386.2 million, up 1.8% compared with € 379.2 million in the first nine months of 2025, thanks to the 26.8% growth recorded in the third quarter, coinciding with the start of the boat show season. To better understand the performance in the first nine months of the previous year, it should be noted that the two previously mentioned Super Yacht 3 The geographical breakdown refers to the dealer's area of exclusivity or to the customer's nationality.
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orders, signed in the first half of 2025 for a total value of € 64. 2 million, were secured in this region. Order Intake in the MEA region amounted to € 112.2 million, down 36.5% compared with € 176.8 million in the first nine months of 2025. This trend is attributable to the outbreak of geopolitical tensions in the region at the beginning of the year and their subsequent escalation towards the end of the period under review. In the APAC region, Order Intake increased from € 16.1 million in the first nine months of 2025 to € 51.6 million in the current year. The significant increase, recorded consistently throughout the reporting period, reflects the continued development of the Group in the region. Order intake in the AMAS region stood at €115.0 million compared to €199.0 million in the first nine months of 2025, down 42.2%, reflecting the weakness of the Made-to-Measure segment. Order backlog As of September 30, 2026, the Order Backlog amounted to €1,333.7 million, down 11.0% compared to €1,497.9 million in the corresponding period of the previous year. Order backlog by segment The table below shows the breakdown of order backlog by production type: EUR million Order backlog by segment Sept.’26 (unaudited) % of total order backlog Sept.’25 (unaudited) % of total order backlog Change Sept.’26 vs. Sept.’25 Composite yachts 263.9 19.8% 201.5 13.5% +31.0% Made-to-measure yachts 526.2 39.5% 600.8 40.1% -12.4% Super yachts 542.3 40.7% 688.4 46.0% -21.2% Other businesses 1.4 0.1% 7.2 0.5% -80.6% Total 1,333.7 100.0% 1,497.9 100.0% -11.0% In the Composite Yachts segment, Order Backlog reached € 263.9 million, compared with € 201.5 million as of September 30, 2025 (19.8% compared with 13.5% of the total Order Backlog). Order Backlog in the Made-to-Measure Yachts segment amounted to € 526.2 million, compared with € 600.8 million in the corresponding period of the previous year (39.5% compared with 40.1% of the total Order Backlog).
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In the Super Yachts segment, Order Backlog amounted to € 542.3 million, compared with € 688.4 million as of September 30, 2025 (40.7% compared with 46.0% of the total Order Backlog). Order Backlog in the Other Businesses segment stood at € 1.4 million, compared with € 7.2 million as of September 30, 2025, accounting for approximately 0.1% of the total Order Backlog, compared with 0.5% in the previous year. Net Backlog As of September 30, 2026, Net Backlog 4 amounted to €571.4 million, compared with €794.7 million in the corresponding period of the previous year, down 28.1%. The comparison over the entire reporting period, affected by the particularly high level reached in 2025, does not reflect the progressive improvement recorded during the year: following the contraction observed in the first part of the year, Net Backlog showed substantial stabilisation in the third quarter, benefiting from the progressive improvement in Order Intake. An analysis of the Net backlog also highlights different trends across the various segments. The Composite Yachts segment recorded a significant growth, increasing to €120.0 million (+44.4% compared with September 30, 2025), accounting for 21.0% of the total, compared with 10.5% in the previous year. This trend reflects the commercial success of the new models and the strengthening of the Group’s presence in a segment characterised by particularly dynamic demand. The decline compared with the levels recorded in the previous year was instead mainly attributable to the Made-to-Measure Yachts and Super Yachts segments, which continue to be affected by longer decision-making processes in a geopolitical and macroeconomic environment still characterised by a high degree of uncertainty. Despite this trend, these segments maintain a combined Net Backlog of more than € 450 million, continuing to provide a solid base of business for future years. Lastly, coverage for FY 2026 remains above 85%, with approximately € 174 million of Net Backlog relating to the current year, compared with € 165 million as of September 30, 2025. As of the same date, the portion relating to subsequent years amounted to ap proximately € 397 million. 4 Total value of orders in the backlog yet to be delivered, net of revenues already recognized
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EUR million Net Backlog by segment Sept.’26 (unaudited) % of total net backlog Sept.’25 (unaudited) % of total net backlog Change Sept.’26 vs. Sept’25 Composite yachts 120.0 21.0% 83.1 10.5% +44.4% Made-to-measure yachts 221.3 38.7% 299.0 37.6% -26.0% Super yachts 229.9 40.2% 409.6 51.5% -43.9% Other businesses 0.2 0.0% 3.1 0.4% -93.5% Total 571.4 100.0% 794.7 100.0% -28.1% Net revenue new yachts In the first nine months of 2026, the Group’s total Net Revenues from New Yachts amounted to €888.6 million, broadly in line with €887.2 million in the corresponding period of the previous year. The improving trend recorded between the first and second qua rters of the current year, with the 8.0% decline recorded at the beginning of the year subsequently narrowing to 2.9%, strengthened further, resulting in revenue growth of 13.6% in the third quarter. In particular, this performance benefited from the particularly strong growth in Composite Yachts Order Intake during the period, which partly translated immediately into higher revenues. Net revenue new yachts by segment The table below shows the breakdown of net revenue new yachts by production type: EUR million Net revenue new yachts by segment 9M’26 (unaudited) % of total net revenue new yachts 9M’25 (unaudited) % of total net revenue new yachts Change 9M’26 vs. 9M’25 Composite yachts 337.4 38.0% 322.2 36.3% +4.7% Made-to-measure yachts 368.0 41.4% 362.8 40.9% +1.4% Super yachts 132.2 14.9% 155.6 17.5% -15.0% Other businesses 51.0 5.7% 46.6 5.3% +9.4% Total 888.6 100.0% 887.2 100.0% +0.2% In the first nine months of 2026, revenues from the Composite Yachts segment reached €337.4 million, compared with €322.2 million in the corresponding period of the previous year (accounting for 38.0% compared with 36.3% of total Net Revenues from New Yachts).
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In the Made-to-Measure Yachts segment, revenues amounted to €368.0 million, compared with €362.8 million in the first nine months of 2025 (41.4% compared with 40.9% of total Net Revenues from New Yachts). Revenues from the Super Yachts segment amounted to €132.2 million in the first nine months of 2026, compared with €155.6 million in the corresponding period of the previous year (14.9% compared with 17.5% of total Net Revenues from New Yachts). In the Other Businesses segment, revenues amounted to €51.0 million, compared with €46.6 million in the first nine months of 2025 (5.7% compared with 5.3% of total Net Revenues from New Yachts). Net revenue new yachts by geographic area The breakdown of net revenue new yachts by geographical area is as follows: Million euros Net revenue new yachts by geographic area 9M’26 (unaudited) % of total net revenue new yachts 9M’25 (unaudited) % of total net revenue new yachts Change 9M’26 vs. 9M’25 Europe 427.2 48.1% 373.9 42.1% +14.3% MEA 210.3 23.7% 286.4 32.3% -26.6% APAC 37.6 4.2% 15.0 1.7% +150.7% AMAS 213.4 24.0% 211.8 23.9% +0.8% Total 888.6 100.0% 887.2 100.0% +0.2% During the period under review, revenues in Europe reached €427.2 million, compared with €373.9 million in the first nine months of 2025 (48.1% compared with 42.1% of total revenues). Revenues in the MEA region amounted to €210.3 million in the first nine months of the current year, compared with € 286.4 million in the corresponding period of 2025 (23.7% compared with approximately 32.3% of total revenues). In the APAC region, revenues reached € 37.6 million, compared with € 15.0 million in the first nine months of 2025 (4.2% compared with 1.7% of total revenues). The AMAS region recorded revenues of €213.4 million, compared with €211.8 million in the first nine months of 2025 (24.0% compared with 23.9% of total revenues).
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Consolidated operating and net results Adjusted EBITDA The Group’s Adjusted EBITDA for the first nine months of 2026 amounted to €130.6 million, compared to €141.7 million in the corresponding period of 2025, with an Adjusted EBITDA margin of 14.7%, compared to 16.0%. The change mainly reflects two factors: on the one hand, with an impact of 40 bps, the evolution of the sales mix, characterized by a lower contribution from the Made-to-Measure Yachts segment. On the other hand, with an impact of 40 bps, operational inefficiencies at certain Group subsidiaries acting as suppliers resulted in additional costs and delivery delays, affecting their contribution to profitability. These inefficiencies have been identified and corrective actions are already underway, with the aim of improving execution, reducing additional costs and bringing these activities back towards more normalized levels of operating performance. Lastly, to a lesser extent, profitability was affected by additional factors. First, with an impact of 20 bps, the Group’s pursuit of a commercial strategy aimed at preserving its competitive positioning and presence in key markets characterized by greater competitive intensity. The second, with an impact of 20 bps, was attributable to certain commercial and service initiatives introduced during the period, including the one -year extension of the standard warranty, aimed at further strengthening the Group’s value proposition and customer loyalty. The last, with an impact of 10 bps, was attributable to lower fixed cost absorption, a dynamic mainly recorded in the first part of the year and mitigated in the third quarter thanks to the improvement in Order Intake and the increase in production volumes. Net profit The Group’s Net Profit amounted to €49.9 million in the first nine months of 2026, compared with €61.0 million in the corresponding period of the previous year, reflecting the above - mentioned change in profitability. Overview of the consolidated balance sheet Investments in tangible and intangible assets As of September 30, 2026, capital expenditure in property, plant and equipment and intangible assets amounted to €45.5 million, down 29. 5% compared with €64.5 million in the first nine months of the previous year. The significant decrease reflects the completion of the intensive investment plan undertaken in previous years to increase production capacity. Accordingly, the share of resources allocated to business expansion activities decreased from 61% to 44% of total investments.
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Consolidated net financial position As of September 30, 2026, the Group’s Net Financial Position showed a net cash position of €42.3 million, compared with €65.2 million as of September 30, 2025. This development reflects the evolution in the Order Intake mix: the lower contribution from the Made-to-Measure Yachts and Super Yachts segments resulted in a lower financial benefit from contractual advances paid by customers as construction progresses, which are typical of these segments. Net working capital As of September 30, 2026, Net Working Capital was positive at €261.2 million, increasing by €71.7 million compared with September 30, 2025. The change was mainly attributable, on the one hand, to the normal seasonal dynamics of the third quarter and, on th e other hand, to the evolution of the Order Intake mix during the period, with a lower contribution from contractual advances on Made-to-Measure Yachts and Super Yachts projects and the related financial benefit. It should be noted that the value of finish ed composite yachts and units under construction without a customer order decreased compared with the corresponding period of the previous year. SIGNIFICANT EVENTS OCCURRED DURING THE FIRST NINE MONTHS OF 2026 Voluntary Partial Public Tender Offer5 On 19 January 2026, Azúr a.s . (“KKCG Maritime ”) announced its intention to launch a conditional voluntary partial tender offer to acquire up to 52,132,861 Ferretti shares, representing 15.4% of Ferretti’s share capital (the “Offer”). On 29 January 2026, KKCG Maritime announced that it had filed the offer document with Consob and the Executive Director of the Corporate Finance Division of the SFC (the “Executive”). On 30 January 2026, Ferretti’s Board of Directors, in compliance with the provisions of the Hong Kong Code on Takeovers and Mergers, established an “Independent Board Committee” composed entirely of the Company’s non-executive directors. On 27 February 2026, KKCG Maritime announced that it obtained, on 25 February 2026, the clearance of the Offer document from CONSOB and, on 27 February 2026, confirmation from the Executive that it had no further comments on the Offer document. On 2 March 2026, KKCG Maritime made available to the public the Offer document approved by the Authorities and the acceptance form for the Offer. 5 Further details regarding the Offer, please refer to the documentation published on Ferretti’s website, www.ferrettigroup.com, under the “Investor Relations / Governance / PTO” section.
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On 12 March 2026, the Board of Directors of Ferretti approved (by majority, with directors Piero Ferrari, Alberto Galassi and Stefano Domenicali abstaining) the issuer’s statement in relation to the Offer (the “Response Document”), which has been made available to the public on the Company’s website the same day. On 16 March 2026, the acceptance period for the Offer began. On 26 March 2026, KKCG Maritime announced an increase in the Offer’s consideration from €3.50 per share to €3.90 per share and, on the same date, it published the relevant Offer document supplement. Thus, on 2 April 2026, the Board of Directors of Ferretti approved (by majority, with Alberto Galassi abstaining and Piero Ferrari and Stefano Domenicali voting against) the supplement of the issuer’s statement in relation to the Offer (the “Response Document Supplement”), which has been made available to the public on the Company’s website the same day. On 13 April 2026, the acceptance period of the Offer closed and, on 14 April 2026, KKCG Maritime announced the Offer’s final results: i.e., KKCG Maritime received valid acceptances of the Offer in respect of a total of 29,611,598 shares, representing approximately 8.748335% of the corporate capital of Ferretti and approximately 56.800255% of the maximum number of shares object of the Offer. Since the number of Shares tendered to the Offer does not exceed 52,132,861 (i.e., the maximum number of shares object of the Offer ), KKCG Maritime purchased all the shares tendered into the Offer, for an aggregate consideration of Euro 115,485,232.20, without carrying out the allocation procedure described in the Offer document. For further details regarding the Offer, please refer to the documentation published on Ferretti Group’s website, www.ferrettigroup.com, under the “Investor Relations / Governance / PTO” section. 2026 Shareholders’ Meeting and related activities6 On 14 May 20267, the Company announced the resignations of directors Piero Ferrari and Stefano Domenicali, which had been submitted on the evening of 13 May 2026. On the same date, the ordinary Shareholders’ meeting of Ferretti was held and, among others, it: 6 Further information regarding the resolutions adopted by the aforementioned Shareholders’ Meeting, please refer to the press release dated May 14, 2026, available on Ferretti’s website, www.ferrettigroup.com, under the “Investor Relations – Press Releases” section. 7 On the same date, the Company also announced that Directors Piero Ferrari and Stefano Domenicali had tendered their resignations from the Board on the evening of May 13, 2026.
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• Approved the audited separate Financial Statements as of December 31, 202 5 and the allocation of profit; • Approved the distribution of an ordinary dividend of Euro 0.11 per share; • Approved the "Report on the Remuneration Policy and on Compensation Paid"; • Appointed the new Board of Directors, prior determination of the relevant number of members and of the term of office, appointed the Chairman of the Board of Directors and determined the remuneration of the members of the Board of Directors • Appointed the new Board of Statutory Auditors and its Chairman for the financial years 2026–2028 and it determined the remuneration of the members of the Board of Statutory Auditors. On 15 May 2026, the first meeting of the newly elected Board of Directors was held, during which, among other things, Stassi Anastassov was appointed as the new Chief Executive Officer and the new members of the board committees were appointed. Legal Proceedings pursuant to Articles 2377 and 2378 of the Italian Civil Code On 9 June 2026, KKCG Maritime filed a writ of summons against Ferretti before the Court of Bologna pursuant to Articles 2377 and 2378 of the Italian Civil Code seeking, inter alia , a declaration of nullity and/or annulment of the resolutions adopted by Ferretti's shareholders' meeting of 14 May 2026, with respect to the appointment of the new board of directors, the number of its members, and the appointment of the board of statutory auditors. The claimant has also filed an application pursuant to Article 2377, paragraph 3, of the Italian Civil Code and Article 700 of the Italian Code of Civil Procedure seeking interim relief to suspend the effectiveness of such resolutions. EVENTS AFTER THE REPORTING PERIOD Legal Proceedings pursuant to Articles 2377 and 2378 of the Italian Civil Code By order dated October 12, 2026, the Court of Bologna, Specialized Business Division, dismissed in its entirety the interim relief application filed by KKCG Maritime in connection with the proceedings challenging the resolutions adopted by Ferretti’s Share holders’ Meeting held on May 14, 2026. In particular, the Court held that the establishment of the Ferretti Security Division (FSD) in 2016, whose activities are now residual, did not trigger any notification obligation under the Italian Golden Power regulations with respect to the shareholding already held by Ferretti International Holding S.p.A. (“FIH”). Consequently, the Court found that there were no grounds for the alleged suspension of FIH’s voting rights. Furthermore, in the context of the interim proceedings, the Court found the claims concerning the alleged existence of undisclosed
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shareholders’ agreements and the alleged abusive exercise of voting rights by FIH to be unfounded. The proceedings concerning the merits of the underlying challenge remain pending. ZES authorization for the expansion of the Ancona shipyard8 On 21 October 2026, Ferretti Group obtained the first ZES (Special Economic Zone) single authorisation issued in the Port of Ancona, paving the way for the expansion of the production capabilities of the Ancona Superyacht Yard. The project, which will involve one of the shipyard’s existing production facilities, will increase its maximum yacht-building capability from 90 to 100 metres in length, broadening the Group’s development opportunities in the larger superyacht segment. GUIDANCE 20269 In light of the performance recorded in the first nine months of the year and the improvement observed in Order Intake and Net Revenue during the third quarter, the Group confirms its revenue expectations for FY2026. However, prevailing market conditions a re expected to continue to influence the sales mix and competitive dynamics, while the corrective actions currently underway to address operational inefficiencies and bring these activities back towards more normalized performance levels are expected to de liver gradual benefits over the course of the year. These factors affect profitability in the short term and have led the Group to revise its profitability expectations. Capex guidance remains confirmed. In light of the above considerations, the Group updates its guidance for 2026 as follows: 2025A PREVIOUS 2026E NEW 2026E Net Revenue New Yachts (€ millions) 1,231.7 1,200 – 1,240 1,200 – 1,240 8 For further information, please refer to the press release published on the Company’s website on 26 October 2026. 9 Guidance should not be interpreted as forecasts or as an indication that the Group will actually achieve such performance levels, but merely as targets resulting from the Group’s pursuit of its strategy. The Group’s ability to achieve these targets is based on the assumption of the successful execution of its strategy and also depends on the accuracy of a number of assumptions involving factors beyond its control. The targets are also subject to known and unknown risks, uncertainties and other factors that may result in the Group being unable to achieve them.
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Adjusted EBITDA (€ millions) 202.8 186 – 197 174 – 185 Adjusted EBITDA margin (%) 16.5% 15.5% - 15.9% 14.5% - 14.9% Capex (€ millions) 89.2 60.0 – 65.0 60.0 – 65.0 *** CONFERENCE CALL The results as of 3 0 September 2026 shall be presented to the financial community through a n audio conference call to be held on 27 October 2026 at 12:00 p.m. CET, 7:00 p.m. HKT. To attend the audio webcast meeting, you can register at this link: Webinar Registration - Zoom The presentation of the management will be available a few minutes before the start of the conference call on the website : Ferretti Group Web Site > Investor relations > Reports and presentations. *** The Executive Officer for Financial Reporting, Marco Zammarchi, declares in accordance with Article 154 bis, paragraph 2, of the Consolidated Finance Act, that the accounting information contained in this press release corresponds to the underlying accounting documents, records and accounting entries. *** NON-IFRS MEASURE To supplement the Group’s consolidated results which are presented in accordance with IFRS, EBITDA, adjusted EBITDA, adjusted EBITDA/net revenue without pre -owned, being non -IFRS measures, were also presented. The Group is of the view that this measure fac ilitates comparison of operating performance from period to period by eliminating potential impacts of certain items and believes that this measure provides useful information to understand and evaluate the Group’s consolidated income statements in the same manner as they help the Group’s management.
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However, the Group’s presentation of EBITDA may not be comparable to similar terms used by other companies. The use of this measure has limitations as an analytical tool, as such, it should not be considered in isolation from, or as substitute for analysis of, the Group’s results of operations or financial condition as reported under IFRS. The periodic financial information , as of 30 September 2026, has not been audited by the Company’s independent auditing firm. The Company defines (i) EBITDA as profit after tax plus financial expenses (including the result of operating foreign exchange conversion but excluding exchange rate gains/(losses) related to financial transactions), depreciation and amortization, and income tax expense, and le ss financial income and income tax benefit; (ii) adjusted EBITDA as EBITDA adjusted by adding back certain special items (including non-recurring costs and other minor non-recurring events); and (iii) net revenue without pre-owned as net revenue excluding revenue generated from the trading of pre- owned yachts. *** Ferretti Group With a legacy rooted in Italy’s centuries -old nautical tradition, Ferretti Group is a global leader in the design, construction, and sale of luxury yachts ranging from 8 to 95 meters in length. The Group boasts a unique portfolio of prestigious and exclusive brands: Ferretti Yachts, Riva, Pershing, Itama, CRN, Custom Line, and Wally. Ferretti Group owns and operates seven shipyards across Italy, where efficient industrial production meets the finest Italian craftsmanship. With a direct presence in Europe, the United States, and Asia, and a carefully selected network of dealers, the Group reaches clients in over 70 countries worldwide. The yachts crafted by Ferretti Group’s brands, the ultimate expression of Italian creativity and elegance, stand out for their exceptional build quality, cutting -edge technology, industry -leading safety standards, outstanding performance at sea, and timeless allure. For more information: www.ferrettigroup.com Investor Relations Media Relations Head of Investor Relations Head of Media Relations Elisabetta Cugnasca Giovanni Bogetto Email: elisabetta.cugnasca@ferrettigroup.com Email: giovanni.bogetto@ferrettigroup.com T.+39 02 83994 000 T:+39 02 83992 000 Email: Investorrelations@ferrettigroup.com Barabino & Partners Barabino & Partners Federico Vercellino f.vercellino@barabino.it Mob: +39 331.5745171 Virginia Bertè v.berte@barabino.it Mob: +39 342.9787585