Slide 1: H1 2026 Results
H1 2026 Results Technogym Investor Relations Cesena, Italy – July 30th, 2026 Strictly private & confidential
Slide 2: Speakers
Speakers Nerio Alessandri William Marabini Michele Bertacco Founder, Chairman & CEO Chief Financial Officer Investor Relations Director Strictly private & confidential 2
Slide 3: Disclaimer
Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events an
Slide 4: Agenda
Agenda Opening remarks Nerio Alessandri Latest news Michele Bertacco Financials William Marabini Closing Remarks Nerio Alessandri Q&A Strictly private & confidential 4
Slide 5: Opening Remarks
OPENING REMARKS Strictly private & confidential 5
Slide 6: Nerio Alessandri: Technogym Founder and CEO key comments
Nerio Alessandri Technogym Founder and CEO key comments Strictly private & confidential 6
Slide 7: Technogym Key Highlights
Technogym Key Highlights 1B+ TURNOVER, 70+ MILLION 600,000+ ~20% CAGR SINCE 1983 USERS WORLDWIDE INSTALLATIONS 2,500+ 120+ 50+ EMPLOYEES WW COUNTRIES RETAIL BOUTIQUES Strictly private & confidential 7
Slide 8: Latest News
LATEST NEWS Strictly private & confidential 8
Slide 9: A glimpse of the Champions @ Technogym Village in H1
A glimpse of the Champions @ Technogym Village in H1 KIMI ANTONELLI CHARLES LECLERC MARC MARQUEZ LORENZO MUSETTI Strictly private & confidential 9
Slide 10: Technogym Top Employer 2026
Technogym TOP EMPLOYER 2026 Strictly private & confidential 10
Slide 11: Technogym @ Olympic Games – February
Technogym @ Olympic Games – February Strictly private & confidential 11
Slide 12: Technogym Harrods boutique opening – London, March
Technogym Harrods boutique opening – London, March Strictly private & confidential 12
Slide 13: Technogym Social Campaign
Technogym Social Campaign Campaign overview: ■ ran from 10 to 27 March 2026 ■ 150,000 participants across 141 countries Results summary: ■ 1 billion MOVEs collected ■ Technogym enabled to donate a total of 1 million school meals to support children in need Key evidences: ■ outstanding results ■ Demo
Slide 14: HFA – San Diego, March
HFA – San Diego, March Strictly private & confidential 14
Slide 15: FIBO – Cologne, April
FIBO – Cologne, April Strictly private & confidential 15
Slide 16: Healthness House @ FIBO – Cologne, April
Healthness House @ FIBO – Cologne, April Strictly private & confidential 16
Slide 17: Unica 40th Birthday – Milan, April
Unica 40th Birthday – Milan, April Strictly private & confidential 17
Slide 18: Salone del Mobile – Milan, April
Salone del Mobile – Milan, April Strictly private & confidential 18
Slide 19: Rimini Wellness, June
Rimini Wellness, June Strictly private & confidential 19
Slide 20: RUN X Challenge – Technogym Village, June
RUN X Challenge – Technogym Village, June Strictly private & confidential 20
Slide 21: Waterfront pop-up store, Porto Cervo
Waterfront pop-up store, Porto Cervo Strictly private & confidential 21
Slide 22: Product Innovation
PRODUCT INNOVATION Strictly private & confidential 22
Slide 23: NEW Products for any End-User
NEW Products for any End-User FITNESS WELLNESS SPORTNESS HEALTHNESS BUILD YOUR BODY TRAIN IN STYLE POW ER YOUR PERFORMANCE EXTEND YOUR HEALTHSPAN Strictly private & confidential 23
Slide 24: NEW Personal Sand Stone x Luxury
NEW Personal Sand Stone x LUXURY Strictly private & confidential 24
Slide 25: NEW Technogym Reform x Pilates
NEW Technogym Reform x PILATES Strictly private & confidential 25
Slide 26: NEW Technogym Cable Stations x Strength
NEW Technogym Cable Stations x STRENGTH Strictly private & confidential 26
Slide 27: NEW Technogym Rigs x Functional Fitness
NEW Technogym Rigs x FUNCTIONAL FITNESS Strictly private & confidential 27
Slide 28: NEW Technogym TeamGO x Hybrid Training
NEW Technogym TeamGO x HYBRID TRAINING AI Strictly private & confidential 28
Slide 29: NEW RUN X Format x Running
NEW RUN X Format x RUNNING Strictly private & confidential 29
Slide 30: NEW Technogym Ecosystem – Partnership with Google AI
NEW Technogym Ecosystem – Partnership with Google AI Technogym has integrated Google Cloud AI and Gemini models into its platform to deliver hyper-personalized workouts for users, optimize management and retention for operators, and support its connected equipment on a secure, scalable data infrastr
Slide 31: NEW Technogym Checkup
NEW Technogym Checkup Strictly private & confidential 31
Slide 32: NEW Technogym School
NEW Technogym School Strictly private & confidential 32
Slide 33: Long Term Investments
LONG TERM INVESTMENTS Strictly private & confidential 33
Slide 34: Technogym Slovakia – New production plant
Technogym Slovakia – New production plant Strictly private & confidential 34
Slide 35: Technogym Village – New solar power plant
Technogym Village – New solar power plant Strictly private & confidential 35
Slide 36: New Luxury Living Top Locations
NEW LUXURY LIVING TOP LOCATIONS Strictly private & confidential 36
Slide 37: Hotel Du Cap – Heden – Roc, France
Hotel Du Cap – Heden – Roc, France Strictly private & confidential 37
Slide 38: 125 Greenwich Street – New York, USA
125 Greenwich Street – New York, USA Strictly private & confidential 38
Slide 39: All England Lawn Tennis and Criquet Club – Wimbledon, UK
All England Lawn Tennis and Criquet Club – Wimbledon, UK Strictly private & confidential 39
Slide 40: Lifetime Fitness – Multiple locations, USA
Lifetime Fitness – Multiple locations, USA Strictly private & confidential 40
Slide 41: H1 2026 Financials
H1 2026 FINANCIALS Strictly private & confidential 41
Slide 42: H1 2026 summary
H1 2026 summary € millions 2026 2025 P&L 493 Revenue 459 86 EBITDA ADJ 85 58 EBIT ADJ 57 44 Net profit ADJ 44 Balance sheet 95 Net Fin. Position* 90 Free Cash Flow* 20 44 * NFP and FCF recurring: excluding CapEx for “special investment projects” Strictly private & confidential 42
Slide 43: Revenue up +9.0% net of FX
Revenue up +9.0% net of FX +9.0% +7.4% 500.2 492.6 458.8 H1 2025 H1 2026 H1 2026 @constant FX Strictly private & confidential 43
Slide 44: Significant growth in Europe
Significant growth in Europe +7.4% 2026 vs PY 492.6 458.8 237.7 EUROPE +11.4% 213.4 (48.3%) (EXCL. ITA) (46.5%) 77.0 76.2 AMERICAS* (15.5%) -1.1% (16.8%) 60.9 66.2 MEIA (13.3%) (13.4%) +8.6% 59.7 60.9 APAC +2.0% (13.0%) (12.4%) 47.7 51.5 ITA +8.0% (10.4%) (10.5%) H1 2025 H1 2026 * includes North Ame
Slide 45: Growth both in Commercial and Private
Growth both in Commercial and Private +7.4% 2026 vs PY 492.6 458.8 394.3 BtoB +8.5% 363.5 (80.0%) (79.2%) 95.3 98.3 BtoC +3.1% (20.8%) (20.0%) H1 2025 H1 2026 Strictly private & confidential 45
Slide 46: Distributors and Retail driving growth
Distributors and Retail driving growth 2026 vs PY +7.4% 492.6 458.8 308.7 FIELD SALES* +1.2% 305.1 (62.7%) (66.5%) 132.0 DISTRIBUTORS* +22.6% 107.7 (26.8%) (23.5%) INSIDE SALES** +4.5% 30.4 31.7 15.6 (6.6%) 20.1 (6.4%) RETAIL +28.4% (3.4%) (4.1%) H1 2025 H1 2026 * Prior-year comparative figures have
Slide 47: Statutory Profit & Loss H1 2026
Statutory Profit & Loss H1 2026 % on % on € millions H1 2026 sales H1 2025 sales Var. Var. % Comments Total Revenue 492.6 458.8 33.8 7.4% Cost of raw, ancillary and consumable materials and goods for resale (155.0) (31.5%) (140.3) (30.6%) (14.7) 10.5% ▪ Revenue grew +7.4% to 493 m€ (+9.0% at constan
Slide 48: Trade working capital
Trade working capital 71.8 48.2 49.4 146.9 INVENTORIES 112.0 130.4 131.8 139.1 TR. RECEIVABLES 98.8 -181.0 -194.4 -214.2 TR. PAYABLES H1 2025 2025 FY H1 2026 5.0% 4.8% 6.8% % on Sales rolling LTM 4.9x 6.0x 5.0x Inventory Turnover 35 43 44 IFRS Balance DSO 106 111 115 IFRS Balance DPO Strictly privat
Slide 49: CapEx
CapEx 5.2% 5.3% % ON REVENUE 26.3 23.8 15.2 PPE 14.5 9.2 11.1 INTANGIBLES H1 2025 H1 2026 (5.9) (6.1) o/w special projects (CapEx) * 17.9 20.3 CapEx «recurring»** 3.9% 4.1% % on Revenue * Plant expansion in Slovakia ** CapEx recurring: excluding “special investment projects” Strictly private & confi
Slide 50: Free cash flow
Free cash flow Cash Conversion recurring 46.7% 83.5 H1 -23.7 39.5 2026 -20.3 20.0 13.9 -19.5 -6.1 Cash Flows from NWC CapEx FCF recurring Taxes paid FCF Special projects FCF operat. activities before Taxes recurring (CapEx) reported Cash Conversion 86.0% recurring 85.0 3.6 70.7 H1 -17.9 44.2 38.3 20
Slide 51: Net Financial Position
Net Financial Position 156.0 88.6 84.1 CASH, DEPOSITS, 214.7 214.4 CASH EQUIV. 166.2 0.0 -3.8 0.0 -1.5 -30.0 -1.3 OTHER & -3.5 -53.7 -65.0 DERIVATES -48.7 BANK DEBTS -3.8 -55.4 LEASING EXPOSURE H1 2025 FY 2025 H1 2026 IFRS 16 5.9 12.9 6.1 o/w special projects (CapEx) 90.0 168.8 94.7 NFP «recurring»*
Slide 52: Net Financial Position walk
Net Financial Position walk -67.4M -65.6M 83.5 -23.7 53.7 209.6 -26.3 -19.5 156.0 144.0 -74.5 -5.0 88.6 6.1 94.7 -55.4 DEC. IFRS16 DEC. CF from NWC CapEx Taxes Dividends Financial, JUNE IFRS16 JUNE Excluding JUNE 2025 Lease 2025 operat. paid leases costs 2026 Lease 2026 CapEx 2026 «reported» debt ex
Slide 53: Balance Sheet June 2026
Balance Sheet June 2026 % on LTM % on LTM € millions H1 2026 sales FY 2025 sales Var. % Inventories 146.9 14.0% 112.0 11.0% 31.2% Trade receivables 139.1 13.2% 131.8 12.9% 5.5% Trade payables (214.2) (20.3%) (194.4) (19.1%) 10.2% Trade Working Capital 71.8 6.8% 49.4 4.8% 45.3% Other current assets/(
Slide 54: Closing Remarks
CLOSING REMARKS Strictly private & confidential 54
Slide 55: Strictly private & confidential
Strictly private & confidential 55