Valtecne S.p.a. · MIL:VLT

Valtecne — FY2025 Earnings Presentation

18 slides from Valtecne's earnings presentation, Apr 13, 2026

1. Slide 1: FY 2025 Results Virtual Roadshow

   FY 2025 Results Virtual Roadshow 13 April 2026 1

2. Slide 2: Disclaimer

   Disclaimer This document ("Document") is strictly confidential and was prepared by Valtecne S.p.A in order to provide the recipients with adequate information relating to the results achieved in the period by Valtecne S.p.A., a company listed on Euronext Growth Milan. The Document does not claim to

3. Slide 3: Speakers

   Speakers Fabio Esposito Adolfo Ottonello General Manager Board Member and Investor Relations Manager Post graduate education at POLIMI and MBA at POLIMI SDA Bocconi, Graduate School for Management, Degree in Telecommunications Engineering Degree in Electronic Engineering Previous jobs: Previous jobs

4. Slide 4: FY 2025 Consolidated Financial Results

   FY 2025 CONSOLIDATED FINANCIAL RESULTS 4

5. Slide 5: Group structure

   Group structure Paolo Mainetti 100,0% Vittorio KPM S.r.l. 6,4% Mainetti 61,6% 13,8% bare full ownership ownership 61,6% Usufruct Free float 18,2% 60,0% Utilità Group (Zamberlan family) 40,0% 5

6. Slide 6: FY 2024 Pro Forma Adjustments

   FY 2024 PRO FORMA ADJUSTMENTS Valtecne Utilità  Intercompany elisions: operating costs,  Intercompany elisions: revenues, trade trade payables receivables  Payment of 60% of share capital of  Sale of gold & silver stock Utilità  Sale of a lathe dedicated to precious metals machining 6

7. Slide 7: FY 2025 - Results Highlights

   FY 2025 - RESULTS HIGHLIGHTS (€M) VALUE OF  Top line, showing slightly declining Revenues (-3,3%) and growing Value of REVENUES PRODUCTION Production (+2,0%), is a result of expanding medical business on one side and €35,7 €37,3 traditional segments of industrial line still decreasing. -3,3% +2,0%

8. Slide 8: Revenues and Value of Production

   Revenues and Value of Production REVENUES VALUE OF PRODUCTION (€M) (€M) Medical Industrial 2025 vs. 2024 FY 2024 pf FY 2025 2025 vs. 2024 40,0 40,0 36,9 36,5 37,3 35,7 -3,3% +2,0% 36,0 36,0 32,0 10,2 32,0 9,5 -6,5% 28,0 28,0 24,0 24,0 20,0 20,0 16,0 16,0 26,7 26,2 -2,1% 12,0 12,0 8,0 8,0 4,0 4,0 0,0

9. Slide 9: Revenues and VoP (Valtecne only)

   Revenues and VoP (Valtecne only) REVENUES VALUE OF PRODUCTION (€M) (€M) Medical Industrial 2025 vs. 2024 Medical Industrial 2025 vs. 2024 32,0 30,4 36,0 30,1 -1,0% 31,4 +5,2% 28,0 32,0 29,9 9,1 7,6 -17,4% 28,0 7,5 24,0 -19,2% 9,3 24,0 20,0 20,0 16,0 16,0 12,0 22,6 21,3 +6,1% 12,0 23,9 +16,3% 20,5 8,

10. Slide 10: EBITDA (1/2)

    EBITDA (1/2) Adjusted EBITDA* EBITDA (€M) 2025 vs. 2024 (€M) 2025 vs. 2024 12,0 9,0 8,4 8,1 -4,1% 10,1 8,0 10,0 9,7 -4,4% 7,0 8,0 6,0 5,0 6,0 4,0 4,0 3,0 2,0 2,0 1,0 0,0 0,0 FY 2024 pf FY 2025 FY 2024 pf FY 2025 % on VoP 27,8% 26,0% % on VoP 23,1% 21,7% Adjusted EBITDA slightly decreased in both Sim

11. Slide 11: EBITDA (2/2)

    EBITDA (2/2) EBITDA (€M) 10,0 0,7 1,2 8,4 0,1 8,1 8,0 6,0 4,0 2,0 0,0 EBITDA FY 2024 pf Value of Production Labour costs Other costs EBITDA FY 2025 Labour costs increased more than proportionally compared to the Value of Production, inducing a worsening of EBITDA 11

12. Slide 12: Working Capital

    Working Capital DSO DPO (days) (days) 2025 vs. 2024 2025 vs. 2024 80 140 65 63 -3,5% 120 60 100 100 74 -25,9% 80 40 60 40 20 20 0 0 FY 2024 pf FY 2025 FY 2024 pf FY 2025 DSO remained steady. DPO decrease by 26% is mainly due to the lack of payables to machinery vendors (that occurred in FY24 pf). 12

13. Slide 13: Cash Flow

    Cash Flow Accounting impact due to reclassification of (€M) Utilità book value into 10,0 shareholders equity 8,1 0,3 8,0 1,8 0,2 0,1 1,4 6,0 5,8 4,4 4,0 2,0 0,0 EBITDA CAPEX Change in NWC Funds Operating CF Net Interests Taxes Free Cash Flow Solid cash generation from operating business 13

14. Slide 14: Net Financial Position

    Net Financial Position Net Financial Position (€M) 6,0 2,5 4,0 2,0 1,4 0,5 0,0 -2,0 6,2 -1,8 -4,0 NFP FY 2024 pf Long term debt Short term debt Cash and equivalents NFP FY 2025 Net Financial Position improved by about €2,3M due to cash generation from operating business and despite €0,6M of dividend

15. Slide 15: Outlook FY 2026

    Outlook FY 2026 The medical line benefits from a favorable context thanks to the positive tone of the global orthopedic industry (+4,2% expected growth 2026) and the presence, among Valtecne customers, of some important OEMs capable of outperforming the market. Moreover, the Group will benefit from

16. Slide 16: Appendix

    Watecne Appendix

17. Slide 17: Financial Statements

    Financial Statements Profits & Losses FY 2024 pf FY 2025 Balance Sheet FY 2024 pf FY 2025 Operating Revenues 36,920 35,686 1,438 5,152 Intangible Assets (500) (376) Tangible Assets 9,866 9,374 (1,300) 397 Financial Assets 6,619 412 Other Revenues 1,395 1,549 Net Fixed Assets 17,923 14,938 Value of P

18. Slide 18: Valtecne S.p.A. contact details

    Valtecne S.p.A. Via Al Campo Sportivo, 277 23010 Berbenno di Valtellina (SO) - ITALY info@valtecne.com 18

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