Sofina Sa · EURONEXT:SOF
Sofina Sa — FY2025 Earnings Presentation
26 slides from Sofina Sa's earnings presentation, Mar 26, 2026
Slide 1: Investor Presentation Full-year 2025
Investor Presentation Full - year 2025 26 March 2026
Slide 2: Our mission
Our mission Partner with leading entrepreneurs and families to back the sustainable growth of their businesses with patient capital and supportive advice. Our purpose is to create enduring value, for everyone . 2
Slide 3: Highlights 2025
Highlights 2025 (1 ) (2 ) (1) Average annual return: based on the change in equity per share (NAVPS) during the period taking into account the gross dividend per share of Sofina. (2) For 2025: €3.66/share (+4.6%) 3 I
Slide 4: Who we are
Who we are With more than 125 years of history, Sofina has evolved from an industrial holding into a global growth investment company. Our DNA continues to shape how we think, invest, and build partnerships 4
Slide 5: FY25 in summary
FY25 in summary Portfolio strength, NAV impacted by forex headwind Market environment • Strong market momentum for deals • Long-term, permanent capital in demand • Sustained growth and value of innovation and entrepreneurship, across geographies and sectors Investment activity • Active deal flow, bo
Slide 6: 2025 Key figures
2025 Key figures NAV NAV & portfolio NAV evolution €10.3 Bn €9.8 Bn €10.8 Bn € 11,0 Bn €0.3 Bn €0.4 Bn Sofina Private Funds € 9,0 Bn Sofina Growth € 4.9 bn € 2.7 bn 45% 25% € 7,0 Bn € 10.8 bn Total Direct investments Total Net cash/(Net € 5,0 Bn €10.1 Bn €10.0 Bn €10.5 Bn debt) € 5.6 bn 52% NAV € 0.
Slide 7: Sofina NAV across geographies, stages, sectors and vintages
Sofina NAV across geographies, stages, sectors and vintages TOTAL PORTFOLIO SOFINA DIRECT >60 growth investments starting from Series A € 10.5 bn as of 31/12/2025 € 5.6 bn as of 31/12/2025 BY GEOGRAPHY SECTOR SPLIT GEOGRAPHIC SPLIT VINTAGE SPLIT (1) LISTED/UNLISTED SPLIT 5% 5% 7% 8% 26% 26% Asia 22%
Slide 8: Key financial indicators – 31 December 2025
Key financial indicators – 31 December 2025 OVERVIEW OF FULL YEAR 2025 (1) 31/12/2025 31/12/2024 2025 2024 Net result (share of the group) Net Asset Value (in million EUR) 10,843 10,305 113 1,360 (in million EUR) Net result (share of the group) Net Asset Value per share (in EUR) (2) (3) 305.77 311.7
Slide 9: Key financial indicators – 31 December 2025
Key financial indicators – 31 December 2025 OVERVIEW OF FULL YEAR 2025 (1) KEY FIGURES IN TRANSPARENCY (in million EUR) 31/12/2025 31/12/2024 Net debt (+) / Net cash (-) -430 -334 Investment portfolio 10,509 10,054 Loan-to-value (in %) -4.1% -3.3% KEY COMPREHENSIVE INCOME FIGURES IN TRANSPARENCY (in
Slide 10: Value Creation – Total portfolio
FY25 Portfolio Financial Performance Value Creation (1) – Total portfolio Positive value creation affected by currency impact Total Portfolio Fair Value bridge per investment style (€ m) 400 170 - 115 10,054 10,509 Total investment portfolio Long-Term Minority Sofina Growth Sofina Private Funds Tota
Slide 11: Value Creation – Direct / Private Funds
FY25 Portfolio Financial Performance Value Creation (1) – Direct / Private Funds Direct and Private Funds positive value creation, including and excluding FX impact. DIRECT Fair Value bridge (€ m) -439 447 -347 624 Value creation: +1.7% Value creation excluding currency impact: +7.5% + 485 46 - -84
Slide 12: Top 10 investments and GPs
Top 10 investments and GPs The 4 largest investments of Sofina Direct represent more than 15% but less than 20% of the portfolio in transparency whereas the 6 largest investment within Sofina Direct represent more than 20% of the portfolio in transparency. SOFINA DIRECT - THE 10 LARGEST INVESTMENTS
Slide 13: Investments in FY25
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Slide 14: Divestments in FY25
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Slide 15: Events post-closing FY25
Events post - closing FY25 (1) Transaction subject to customary closing conditions 15
Slide 16: Sustainability commitments: SBTi
Sustainability commitments: SBTi Our operations To reach scope 1 and 2 SBTs, actions include gradually converting our corporate car fleet to electric vehicles and decouple gas and electricity consumption from workforce growth. In 2024, our greenhouse gas emissions reduction targets In 2025, we reduc
Slide 17: Ongoing commitment to Responsible investment
Ongoing commitment to Responsible investment Originate and assess Deploy Manage Exit Positive Consider positive Monitor ESG Embed ESG in SOFINA DIRECT screening(1) on screening in performance via exit the What and investment sustainability the How using decision roadmaps Redeploy an updated proceeds
Slide 18: Sofina's investment highlights
Annex Sofina’s investment highlights 18 I
Slide 19: Our impact: Delivering value across cycles
Our impact: Delivering value across cycles 1 2 Access to top-tier private business Track record of value creation and through a global ecosystem of trusted recurring liquidity generation relationships 3 4 Exposure to structural innovation Experienced management team trends with sustainability at the
Slide 20: Diversified business strategy
Diversified business strategy 20 I
Slide 21: Access to top-tier private businesses through global ecosystem of trusted relationships
Access to top - tier private businesses through global ecosystem of trusted relationships Founders & entrepreneurial A Sofina GPs B C Long-term financial investors families Selected examples Selected examples Selected examples Sequoia Capital Enablers Long-term and patient Sector Active Global Exper
Slide 22: Track record of recurring liquidity generation and solid long-term performance
Track record of recurring liquidity generation and solid long - term performance persisting also during an unfavourable economic cycle CONSISTENCY ENABLED BY A ROBUST INVESTMENT AND RISK MANAGEMENT PROCESSES 15% 21% 14% 14% 11% 7% 14% 9% Consistent liquidity growing portfolio generation while 197 19
Slide 23: Active Bonds – Summary of key T&Cs
Active Bonds – Summary of key T&Cs Bond 1 - 2021 Bond 2 - 2025 Transaction Overview Nominal Amount EUR 700m EUR 600m Settlement Date 23 September 2021 13 November 2025 Maturity Date 23 September 2028 (7 years) 13 November 2033 (8 years) Pricing Coupon Fixed, 1.000% per annum (~EUR 7.0m p.a.) Fixed,
Slide 24: Experienced management team supported by aligned talent pool
Experienced management team supported by aligned talent pool DEEP BENCH WITH RELEVANT SKILLS AND DIVERSITY TO EXECUTE INVESTMENT STRATEGY EXPERIENCED RELEVANT DIVERSE (1) CLOSE TO MARKET MANAGEMENT TEAM (2) BACKGROUND 60+ board and 250+ years of combined observer seats across our 19 nationalities in
Slide 25: Important legal information and cautionary statements
Important legal information and cautionary statements concerning forward - looking statements and non - IFRS financial measures Certain statements contained herein may be forward - looking statements, including, but not limited to, statements that are predictions of or indicate future events, trends
Slide 26: SOFINA SA
SOFINA SA Rue de l’Industrie, 31 B – 1040 Brussels Tel.: +32 2 551 06 11 info@sofinagroup.com – www.sofinagroup.com