Slide 1: H1 2026 Financial Results
H1 2026 Financial Results Reggio Emilia – September 10, 2026
Slide 2: Disclaimer
Disclaimer This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the “Company”) and its affiliates (together, the “Group”). This document, the information contained herein and any information provided at any presentation in connection herewith (the “Material
Slide 3: Highlights
Highlights ➢ Improvement trend vs. last year in key profitability indicators continues for the second consecutive quarter ➢ Key economic performance indicators for H1 2026 are as follows: ➢ Revenues are €70,5M (€70,5M in H1 2025) ➢ Adj. Ebitda is €7,5M or 10,6% of Revenues (€7,2M or 10,2% of Revenue
Slide 4: Key financials (€M)
Key financials (€M) Revenues EBITDA Adj. 80,0 (€M) 8,0 (€M) 70,0 7,0 6,0 60,0 5,0 50,0 4,0 40,0 70,5 70,5 7,2 7,5 3,0 30,0 2,0 20,0 1,0 10,0 - H1 2025 H1 2026 H1 2025 H1 2026 Net Result Adj. Net Financial Position 15,0 (€M) (€M) 0,60x 3,5 3,0 10,0 0,35x 2,5 2,0 12,6 5,0 1,5 7,4 2,8 1,0 1,3 - 0,5 31.
Slide 5: Focus on Revenues
Focus on Revenues 80,0 (€M) (0,2) Red line 70,0 (3,4) 4,6 (0,9) 75,2% Black line 60,0 Product 6,7% Line 50,0 Blue line 18,1% 40,0 70,5 70,5 30,0 International 51,2% 20,0 Geo 10,0 0,0 Italy H1 2025 Red Line Red Line Black line Blue line H1 2026 48,8% Italy Int. ➢ Overall, H1 2026 revenues were broadl
Slide 6: Focus on EBITDA Adj.
Focus on EBITDA Adj. EBITDA Adj. bridge 9,0 8,0 (0,5) 0,8 7,0 6,0 5,0 4,0 7,2 7,5 3,0 2,0 1,0 - H1 2025 Gross Margin* Op.Ex.* H1 2026 ➢ EBITDA Adj. is €7,5M as of June 30, 2026 (10,6% on Revenues) vs. €7,2M in H1 2025 (10,2% on Revenues) ➢ Gross Margin Adj. at €29,3M vs. €28,4M ➢ Opex*: ratio to Rev
Slide 7: Focus on Net Result Adj.
Focus on Net Result Adj. 3,5 (€M) 3,0 (0,5) 1,2 2,5 2,0 0,5 1,5 0,3 2,8 1,0 1,3 0,5 0,0 Net result adj. Ebitda Adj. D&A Net Financials Taxes Net result adj. H1 2025 H1 2026 ➢ Net Result Adj. is € 2,8M vs. €1,3M in H1 2025 ➢ Decrease in net financial effects related to a reduction in derivatives cost
Slide 8: Focus on Net Debt
Focus on Net Debt Net Debt bridge 14,0 (€M) 12,0 (1,9) (Lev., (Lev. Ratio:2,3 x) (0,1) (0,4) (Lev. Ratio:2,4x). 10,0 (Lev. (0,2) Ratio:2,7x). Ratio:2,4x). (2,6) 45,6 8,0 (2,5x) 12,6 6,0 (,2,3x) 4,0 7,4 2,0 99 - Net debt Financial Liabilities Fair Value Put & Call IFRS 16 Other Cash & Eq. Net debt 31
Slide 9: Summary & Medium-term overview
Summary & Medium-term overview ➢ Improvement trend in key profitability indicators continues for the second consecutive quarter year-over- year, despite a market environment that remains complex and marked by uncertainty, confirming the effectiveness of the Group's commercial and operational efficie
Slide 10: Q&A session
Q&A session 10 cellularline
Slide 11: IR contact
IR contact Marco Cagnetta Board Member and General Manager Sales and Marketing & IR Giacomo Rizzi Group Chief Financial Officer e Dirigente Preposto Vincenzo Pacilli IR and M&A Manager ir@cellularlinegroup.com www.cellularlinegroup.com Ph: +39 0522 33 40 02 11