Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Non-Deal Roadshow (June 2026)
42 slides from Fiera Milano Spa's roadshow presentation, Jun 11, 2026
Slide 1: Fiera Milano Roadshow | Monaco 2026
Fiera Milano Roadshow | Monaco 2026 11th June 2026
Slide 2: Fiera Milano Overview
~) FIERA MILANO ~ ‘OVERVIEW
Slide 3: 7th largest exhibition center in the world and largest conference center in Europe
THE 7TH LARGEST EXHIBITION CENTER IN THE WORLD AND THE LARGEST CONFERENCE CENTER IN EUROPE ▪ 345k m2 total space ▪ 20 pavilions ▪ 100k m2 total space ▪ > 70 meeting rooms ▪ 60k m2 outdoor space ▪ 15k parkings ▪ 5 pavilions ▪ 3 plenary rooms ▪ Approx. 80 events/year ▪ 75 restaurants ▪ Approx. 160 con
Slide 4: A diversified business model: our business areas
A DIVERSIFIED BUSINESS MODEL: OUR BUSINESS AREAS 78% of 2025 Revenues 1% of 2025 Revenues 15% of 2025 Revenues 6% of 2025 Revenues Reporting FOREIGN EXHIBITION ITALIAN EXHIBITION BUSINESS CONGRESSES OTHERS Unit BUSINESS Business Owned exhibitions Exhibitions organized Other sectors Hosted exhibition
Slide 5: Italian portfolio of approximately 60 exhibitions
Owned exhibitions Exhibitions organized i ii Hosted exhibitions iii Services iv abroad v Congresses (Italy) FM’S ITALIAN PORTFOLIO INCLUDES APPROXIMATELY 60 EXHIBITIONS, ACTIVE ACROSS SEVERAL KEY SECTORS; IN ADDITION, IT ALSO INCLUDES TRAVELLING EXHIBITIONS FM Portfolio [2025-2026]: segmentation by
Slide 6: Exhibition space monetization and key services
Owned exhibitions Exhibitions organized i ii Hosted exhibitions iii Services iv abroad v Congresses (Italy) IN ADDITION TO THE MONETIZATION/SALE OF EXHIBITION SPACE TO EXHIBITORS AND ORGANIZERS, FIERA MILANO PROVIDES THE MAIN KEY SERVICES Service portfolio along the participation/organization proces
Slide 7: International development as a growth lever
Owned exhibitions Exhibitions organized i ii Hosted exhibitions iii Services iv abroad v Congresses (Italy) INTERNATIONAL DEVELOPMENT AS A GROWTH LEVER INDIA In India, Fiera Milano, through its joint venture with Deutsche Messe AG, USA Host USA (hospitality), in JV with Hannover Milano Fairs India ,
Slide 8: Key numbers: congresses
Owned exhibitions Exhibitions organized i ii Hosted exhibitions iii Services iv abroad v Congresses (Italy) CORPORATE CONFERENCES INTERNATIONAL ASSOCIATION CONGRESSES INSTITUTIONAL EVENTS Keynumbers Size Conference rooms Events hosted in the last year Professionals from all over the world 8
Slide 9: Accelerating growth through M&A: four deals in one year
ACCELERATING GROWTH THROUGH M&A: FOUR STRATEGIC DEALS CLOSED IN JUST ONE YEAR Total capital allocation to acquisitions: c. €50m (net of targets’ net financial position) Apr Jul Feb 2025 2025 2026 9
Slide 10: New events launched in 2025 showing positive early results
NEW EVENTS LAUNCHED IN 2025 SHOWING POSITIVE EARLY RESULTS Exhibition Performance ▪ 2025 edition: Performance in line with expectations; >1,000 visitors ▪ 2026 edition: Revenue expected to grow strongly (more than double), confirming the scalability of the format ▪ 2025 edition: Performance in line
Slide 11: Above-expectations Winter Olympics impact in 2025-2026
ABOVE-EXPECTATIONS WINTER OLYMPICS IMPACT IN 2025-2026 WITH LONG-TERM STRATEGIC LEGACY ~70% Olympic contribution to 2026 revenues driving higher- than-expected margins (~30% EBITDA margin) PAV. 13-15: Speed Skating PAV. 22-24: Women’s ice hockey POST-OLYMPIC LEGACY Live Dome ▪ PAD. 13-15 ▪ 36,600 m²
Slide 12: Historical performance & Q1 2026 results
HISTORICAL PERFORMANCE & Q1 2026 RESULTS
Slide 13: The economic results of Fiera Milano
THE ECONOMIC RESULTS OF FIERA MILANO REVENUES (€M) EBITDA (€M) OLD GUIDANCE OLD GUIDANCE 380-400 380 320-340 284 280 273 305-325 132 247 100-110 220 255- 265 106 110-120 97 90-100 74 84 81* 65-75 122 58 74 10 2018 2019 2020 2021 2022 2023 2024 2025 2026 2018 2019 2020 2021 2022 2023 2024 2025 2026 F
Slide 14: Q1 2026 highlights
Q1 2026 HIGHLIGHTS REVENUES (€m) EBITDA (€m) NET INCOME (€m) NET CASH (€m) FINANCIAL +62.7 +38.1 RESULTS +98% +316% +30.9 -12.2 126.4 157.2 72.4 50.1 27.7 63.7 111.5 25.7 12.1 7.6 Odd year quarter Even year quarter -3.2 At 31 Dec 2025 At 31 Mar 2026 Q1 Q1 Q1 Q1 Q1 Q1 2024 2025 2026 2024 2025 2026 Q1
Slide 15: Fiera Milano key market highlights
FIERA MILANO - KEY MARKET HIGHLIGHTS FIERA MILANO - KEY MARKET HIGHLIGHTS IPO ■ 12 December 2002 – STAR segment Market Cap ■ €568m (average over the last 30 days) Share Price ■ €7.9 (average over the last 30 days) ■ 131k shares/day (average over the last 30 days) Liquidity (trading volumes) ■ ~€1.1m
Slide 16: Stock market performance vs. market indices
STOCK MARKET PERFORMANCE VS. MARKET INDICES Fiera Milano FTSE MIB FTSE Mid Cap FTSE Italia STAR 8,5 € +319% Fiera Milano 7,5 € 6,5 € 5,5 € 4,5 € 3,5 € +73% FTSE MIB +55% FTSE Mid Cap 2,5 € +18% FTSE Italia STAR 1,5 € nov-23 dic-23 gen-24 feb-24 mar-24 apr-24 mag-24 giu-24 lug-24 ago-24 set -24 ot t-
Slide 17: ESG performance
ESG PEFORMANCE
Slide 18: ESG scorecard - 2025 performance
ESG SCORECARD - 2025 PERFORMANCE Environment Social Governance Total CO2 emissions (tCO2eq) % Renewable sources used Employees Diversity Training hours Board independence Board diversity Market based Women in management Under 30 +8% 78% 56% 22% 44% -57% +30 pp 802 44% 17% 18,109 19,522 Independent F
Slide 19: Strategic plan 2024-2027
» STRATEGIC PLAN — 2024-2027
Slide 20: The 2024-2027 plan focuses on building solid fundamentals
THE 2024 – 2027 PLAN FOCUSES ON BUILDING SOLID FUNDAMENTALS TO SUPPORT SUSTAINABLE LONG -TERM BUSINESS DEVELOPMENT 2028+ 2024-2027 Sustainable development and 2020-2023 Strengthening acceleration Pandemic phase and restart Assets Transformation and Growth Investing in the Group's growth and competit
Slide 21: Value proposition
VALUE PROPOSITION VALUE PROPOSITION 01 02 03 04 SUSTAINABLE RELATIONSHIPS, VALUE BUSINESS PEOPLE AND RECOGNITION, PROPOSITION MODEL ORGANISATION IDENTITY Organising and hosting Leveraging Attracting talent and Increase the awareness major events and sustainability as a enhancing human capital, of th
Slide 22: Portfolio strengthening
1.1 PORTFOLIO STRENGTHENING Organized Hosted 01 VALUE PROPOSITION 1.2 EXPANSION OF CONGRESSES Allianz-Mico expansion Organising and hosting major events and providing integrated physical and digital services to build value 1.3 BECOME AN INTEGRATED SERVICE PROVIDER and growth experiences for Fiera Mi
Slide 23: An evolving portfolio
AN EVOLVING PORTFOLIO The development of the exhibition product is driven by the launch of new events, strategic acquisitions, and the attraction of major international exhibitions. A dynamic and selective approach, capable of strengthening the Group’s presence in Italy and abroad, while diversifyin
Slide 24: The acquisition of 35% of Milano AutoClassica
THE ACQUISITION OF 35% OF MILANO AUTOCLASSICA THE ACQUISITION OF 35% OF MILANO AUTOCLASSICA Target company: EMAC S.r.l., organiser of Milano AutoClassica (Fiera Milano hosted exhibition since 2012) and Vicenza Classic Car Show (Italian Exhibition Group hosted exhibition) Stake: 35% Synergies & strat
Slide 25: The acquisition of 70% of Made in Steel
E ACQUISITION OF 70% OF THE ACQUISITION OF 70% OF MADE IN STEEL Target company: Made in Steel S.r.l., organizer of the biennial international exhibition Made in Steel, a key reference event for the steel supply chain Stake: 70% Synergies & strategic rationale: – Strategic partnership with Siderweb S
Slide 26: Fiera Lab: a new way of organizing exhibitions
FIERA LAB: A NEW WAY OF ORGANIZING AND EXPERIENCING EXHIBITIONS FIERA LAB: A NEW WAY OF ORGANIZING AND EXPERIENCING EXHIBITIONS Double-deck exhibition halls introduce a more dynamic and innovative model, with customizable two-level spaces integrating exhibitions, conferences and networking. A hub en
Slide 27: Expansion of congresses
1.1 PORTFOLIO STRENGTHENING Organized Hosted 01 VALUE PROPOSITION 1.2 EXPANSION OF CONGRESSES Allianz-Mico expansion Organising and hosting major events and providing integrated physical and digital services to build value 1.3 BECOME AN INTEGRATED SERVICE PROVIDER and growth experiences for Fiera Mi
Slide 28: Allianz MiCo: where every event finds its shape
ALLIANZ MiCo: WHERE EVERY EVENT FINDS ITS SHAPE ALLIANZ MiCo: WHERE EVERY EVENT FINDS ITS SHAPE • With over 50,000 m² of exhibition space and more than 60 rooms, Allianz MiCo is among the largest and most advanced conference centers in Europe. • Maximum flexibility and cutting-edge technological ser
Slide 29: Become an integrated service provider
1.1 PORTFOLIO STRENGTHENING Organized Hosted 01 VALUE PROPOSITION 1.2 EXPANSION OF CONGRESSES Allianz-Mico expansion Organising and hosting major events and providing integrated physical and digital services to build value 1.3 BECOME AN INTEGRATED SERVICE PROVIDER and growth experiences for Fiera Mi
Slide 30: The acquisition of Expotrans
THE ACQUISITION OF EXPOTRANS THE ACQUISITION OF EXPOTRANS OVERVIEW REVENUES BREAKDOWN ▪ Leading company in Italy in logistics services for EVENT LOGISTICS SHIPMENTS FOR exhibitions, congresses and international events EXHIBITIONS 43% 34% ▪ Revenues 2024: €28.7m EXPOTRANS ▪ EBITDA 2024: €2.2m ▪ Net C
Slide 31: The acquisition of Stipa
ACQUISITION OF STIPA 22 THE ACQUISITION OF STIPA
Slide 32: Developing the entertainment business
1.1 PORTFOLIO STRENGTHENING Organized Hosted 01 VALUE PROPOSITION 1.2 EXPANSION OF CONGRESSES Allianz-Mico expansion Organising and hosting major events and providing integrated physical and digital services to build value 1.3 BECOME AN INTEGRATED SERVICE PROVIDER and growth experiences for Fiera Mi
Slide 33: Entertainment events calendar 2026
22 MAGGIO 2026 OLIVIA DEAN PALDI 25 AGOSTO 2026 TYLER, THE CREATOR 19 SETTEMBRE ANYMA FEDEN
Slide 34: Live Dome: business and entertainment come together
LIVE DOME BUSINESS AND ENTERTAINMENT COME TOGETHER LIVE DOME TOTAL CAPACITY 36,600 m² BUSINESS AND ENTERTAINMENT COME TOGETHER MAXIMUM CAPACITY >40,000 people LIVE Dome is Fiera Milano’s new indoor venue dedicated to large-scale sports, music, cultural, and entertainment events. The facility expands
Slide 35: Above-expectations Winter Olympics impact in 2025-2026
ABOVE-EXPECTATIONS WINTER OLYMPICS IMPACT IN 2025-2026 WITH LONG-TERM STRATEGIC LEGACY ~70% Olympic contribution to 2026 revenues driving higher- than-expected margins (~30% EBITDA margin) PAV. 13-15: Speed Skating PAV. 22-24: Women’s ice hockey POST-OLYMPIC LEGACY Live Dome ▪ PAD. 13-15 ▪ 36,600 m²
Slide 36: Guidance & capital allocation
GUIDANCE & CAPITAL ALLOCATION
Slide 37: Revenue: contribution to growth by business line
REVENUE: CONTRIBUTION TO GROWTH BY BUSINESS LINE 0 380-400 3 5308- 370 2732 7 3 37
Slide 38: EBITDA: contribution to growth by business line
EBITDA: CONTRIBUTION TO GROWTH BY BUSINESS LINE 1 11 5 32-125 100-110 84 38
Slide 39: Capex supporting the plan
€ 88 MILLION CAPEX SUPPORTING THE PLAN Cumulative 2024-2027 (ME) : M&A IN PIPELINE ° VENUE CAPEX* OPERATIVE CAPEX” fl any RELATED CAPEX (FONDAZIONE FIERA MILANO)
Slide 40: Net financial availability to support inorganic growth and dividends
OVER € 150 M OF NET FINANCIAL AVAILABILITY TO SUPPORT INORGANIC GROWTH AND A STEADY DIVIDEND POLICY Total financial availabilities ME Resources allocated to the 70 q 90 151 r mm execution of M&A transactions (continuous scouting) 111-131 ME [not considering leverage effect] Dividend stability Atleas
Slide 41: Thank you
Thank you CONTACTS: Investor relations: investor.relations@fieramilano.it Sustainability: sustainability@fieramilano.it Investor Relations https://investors.fieramilano.it/en Sustainability www.fieramilano.it/en/sustainability.html 2026 Exhibition Calendar www.fieramilano.it/en/calendario.html
Slide 42: Disclaimer
Disclaimer This presentation and any materials distributed in connection herewith (together, the “Presentation”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and nei