Sphera Franchise Group Sa · BVB:SFG
Sphera Franchise Group Sa — Investor Presentation (September 2026)
38 slides from Sphera Franchise Group Sa's investor presentation, September 2026
Slide 1: Sphera Franchise Group Investor Presentation
Sphera Franchise Group Investor Presentation September 2026
Slide 2: Disclaimer
Disclaimer This presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of shares issued by Sphera Franchise Group SA ("Sphera"), or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy shares in Sphera. Neither
Slide 3: Contents
Contents 1 About Sphera Franchise Group 2 2025 Financial highlights 3 H1 2026 Financial highlights 4 Brand performance 5 Annex: Key financial data 3
Slide 4: About Sphera Franchise Group
About Sphera Franchise Group 4
Slide 5: Purpose, Vision, Mission
PURPOSE Development through relevance and trust. VISION Be the leaders in the Romanian food service industry and become an important player at the European level. MISSION Offer customers a memorable experience, through excellent services and unique products, prepared by passionate teams. 5
Slide 6: Sphera Franchise Group at a glance
Sphera Franchise Group at a glance Sphera is the leading food operator in Romania, operating through subsidiaries in Moldova and in Italy. Sphera Franchise Group was incorporated in May 2017 to consolidate all brands operated by the Group since 1994: KFC, Pizza Hut Dine-In, and Pizza Hut Delivery ah
Slide 7: #1 QSR operator in Romania
#1 QSR operator in Romania Ambitious expansion plan with 21 Stable dividend yield of 5.5% in with 156 restaurants in the new unit openings in 2026 2025, and 5.6% in 2024, with country, and additional 25 units across Romania, Italy, and Moldova, history of bi-annual dividend abroad. supported by the
Slide 8: Network footprint
Network footprint Network as of 30.06.2026 36 2 75 19 5 22 5 151 17 20 Food Court In Line Drive-through Po wered by Bing 8 © GeoNames, Microsoft, Open Places, Open Stree tMap, TomTom NOTE: 1 PHD sub-franchise not included above.
Slide 9: Brand portfolio development
Brand portfolio development OP TIM IZ E E XPAN D DIV ER S IFY Pizza Hut Taco Bell Improve the profitability Extend the brand beyond Enter the fast-casual Asian profile of the network Romania dining segment Franchise rights expanded to the Romania franchise of Wagamama, an 7 underperforming restauran
Slide 10: Key investment highlights
Key investment highlights Leading food service Scalable platform with Improved liquidity due to Operational excellence group operating a fully fledged process in Market Making, attested proven by consistent top portfolio of iconic, place allowing efficient by inclusion in MSCI ranked among YUM inter
Slide 11: Sphera Franchise Group corporate structure
Sphera Franchise Group corporate structure 99.9% 99.9% 99.9% 100% 80% American Restaurant California Fresh US Food Network SRL - US Food Network SRL US Food Network S.A. System S.A. Flavors S.R.L. Italy - Moldova Holds the franchise rights to Holds the franchise and sub- Holds the franchise rights t
Slide 12: Management team
Management team CALIN IONESCU VALENTIN BUDES MONICA EFTIMIE CEO CFO CMO Mr Ionescu is the Chief Executive Officer of Sphera Mr Budes is the Chief Financial Officer of the Sphera Mrs Eftimie is the Chief Marketing Officer of Sphera Franchise Group since October 2020. Mr. Ionescu has Franchise Group s
Slide 13: Leading foodservice group in Romania
Leading foodservice group in Romania QSR #2 player on the chained QSR segment (20.4% market share) operating 102 restaurants #1 player on the QSR chicken segment ✓ 92% aided brand awareness among Romanian QSR customers (Dec’23), maintaining consideration and recommendation indicators at high levels
Slide 14: Network development track record
Network development track record Efficiency KFC Pizza Hut Dine-In Pizza Hut Delivery Taco Bell Cioccolatitaliani Phase VUCA Phase 175 178 176 170 172 1 168 2 Transformation Phase 15 18 Development Phases 13 15 16 19 154 156 10 11 20 138 19 28 28 22 5 18 34 Acceleration Phase 22 22 113 22 22 2 21 23
Slide 15: Historical performance - key indicators
Historical performance - key indicators 1 Turnover Normalized EBITDA in RON m in RON m, excl. IFRS16 15.6% 11.4% 9.4% 10.1% 6.2% 7.3% 7.8% 10.1% 11.4% 9.40% nEBITDA margin 176.9 147.9 147.8 96 102.7 73.5 69.3 72.4 73.5 44.1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1548 1571 1469 Normalized
Slide 16: SFG on BVB
SFG on BVB SHAREHOLDING STRUCTURE AS OF 31.12.2025 Other shareholders Shaletia Ventures Limited SFG is quoted on the Main Market of Bucharest Stock 32.85% Exchange as of November 2017, and included in the 29.55% extended indices of the Bucharest Stock Exchange – BET-XT and BET-BK as of September 201
Slide 17: 2025 Results Highlights
NS SPHERA KFC @ 2 TACO BELL. cates
Slide 18: Key 2025 Highlights
Key 2025 Highlights excl. IFRS16 2025 Consolidated Sales RON 1,570.9 mn +1.5% vs. 2024 RON 362.6 mn RON 1,346.2 mn RON 196.4 mn RON 28.3 mn -0.9% vs. Q1 2024 +1.0% vs. 2024 +2.4% vs. 2024 +19.7% vs. 2024 RON 382.6 mn +2.3% vs. Q2 2024 RON 419.8 mn +3.7% vs. Q4 2024 RON 405.9 mn +0.6% vs. Q3 2024 RON
Slide 19: Evolution of key indicators
Evolution of key indicators in RON m, excl. IFRS16 1,492.8 5% 1,420.8 391.3 Q4 194.7 370.2 6% 376.6 52.8 151.7 -22% Q3 176.9 365.2 3% 49.6 -6% 47.9 147.9 -16% 54.1 372.8 51.7 +8% Q2 347.0 46.4 -14% 50.1 7% 43.2 -13% 43.3 39.1 352.1 27.1 -37% Q1 337.8 28.0 -28% 4% 44.6 39.8 28.6 -36% 24.9 -38% 2024 2
Slide 20: 2025 key financials
2025 key financials in RON m, excl. IFRS16 In 2025, sales across the Group increased by 1.5% YoY, reaching RON 1,570.9 million, reflecting modest top-line Data in RON’000 2025 2024 Y/Y % growth in a year marked by continued consumer caution in Restaurant sales 1,570,926 1,548,382 1.5% Romania, parti
Slide 21: H1 2026 Results Highlights
H1 2026 Results Highlights 21
Slide 22: Key H1 2026 Highlights
Key H1 2026 Highlights excl. IFRS16 H1 2026 Consolidated Sales RON 648.2 mn RON 90.3 mn RON 16.0 mn +1.5% vs. H1 2025 -3.0% vs. H1 2025 +18.0% vs. H1 2025 RON 378.0 mn +4.2% vs. Q1 2025 RON 647.4mn RON 50.0 mn RON 55.7 mn RON 1.4 mn RON 376.6 mn +0.9% vs. H1 2025 -6.3% vs. H1 2025 +11.3% vs. H1 2025
Slide 23: Evolution of key indicators
Evolution of key indicators in RON m, excl. IFRS16 724.9 730.6 +1% 372.8 362.4 57.9 +4% 55.7 -3% 52.8 52.5 -1% Q2 27.1 32.5 +20% 28.0 28.4 +2% 352.1 368.2 +5% 28.6 25.4 24.8 24.1 Q1 -11% -3% 2025 2026 2025 2026 2025 2026 23 Expenses (Restaurant + G&A) Restaurant operating profit Normalized EBITDA
Slide 24: Q2 2026 key financials
Q2 2026 key financials in RON’000, excl. IFRS16 In Q2 2026, Sphera Franchise Group recorded restaurant sales of RON 376.6 million, down 1.6% YoY, reflecting a more cautious Data in RON’000 Q2’26 Q2’25 Y/Y % consumer environment across the Group's markets, particularly in Restaurant sales 376,561 382
Slide 25: H1 2026 key financials
H1 2026 key financials in RON’000, excl. IFRS16 In H1 2026, Sphera Franchise Group recorded restaurant sales of RON 754.5 million, up 1.2% YoY, supported by the contribution of restaurants Data in RON’000 H1’26 H1’25 Y/Y % opened over the last twelve months, particularly under the Taco Bell brand, R
Slide 26: 2026 Revised Guidance
2026 Revised Guidance in RON m, excl. IFRS16 2026 Updated 2026 Updated Guidance 2026 Approved Budget Guidance vs 2026 Indicator Approved Budget RON millions % Sales RON millions % Sales % [Range ← [Range] → ← [Range] → Average] Total Sales (*) 1580.0 1600.0 100.0% 1696.4 100.0% -6.9% -5.7% Food and
Slide 27: Brand performance
Brand performance 27
Slide 28: Sales brand performance: KFC
Sales brand performance: KFC Q1’26 3.3% 4.3% 2.3% Q4’25 1.4% Q2’26 5.0% Q1'25 Q2'25 Q3'25 -1.4% -3.6% -5.4% -9.8% 3.8% -15.9% 3.0% 2.1% Same store All store Q1’25 Q2’25 Q3’25 Q2’26 0.0% Q4'25 Q1'26 43.9% -0.7% 23.2% 25.8% 24.8% -1.7% -1.6% 8.3% -2.0% Q1’26 1.4% -2.5% Q1'25 Q2'25 Q3'25 Q4'25 -8.0% Q2
Slide 29: Sales brand performance: Pizza Hut and Taco Bell Romania
Sales brand performance: Pizza Hut and Taco Bell Romania 21.2% 15.6% 15.5% 2.0% 13.0% 12.2% Q1’25 Q3’25 Q4’25 Q1’26 Q2’26 7.6% -1.0% Q2’25 -1.0% 5.3% -3.2% -5.9% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 -9.5% -2.4% Same store / All store -8.0% Same store All store 29
Slide 30: Evolution of orders for delivery
Evolution of orders for delivery 37% 35% 33% 34% 35% 32% 32% 31% 30% 28% 28% 26% 26% 27% 26% 26% 24% 23% 19% 18% 18% 19% 19% 19% 12% 12% 12% 12% 11% 10% Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 KFC RO KFC IT KFC MD PH RO TB RO 30
Slide 31: Annex: key financial data
Annex: key financial data 31
Slide 32: Summary of 2025 Consolidated FS
Summary of 2025 Consolidated FS (excluding IFRS 16 impact) 32
Slide 33: Summary of 2025 Consolidated FS
Summary of 2025 Consolidated FS (including and excluding IFRS 16 impact) 33
Slide 34: Breakdown of 2025 results by entity
Breakdown of 2025 results by entity (excluding IFRS 16 impact) 34
Slide 35: Summary of H1'26 Consolidated FS
Summary of H1’26 Consolidated FS (excluding IFRS 16 impact) 35
Slide 36: Summary of H1'26 Consolidated FS
Summary of H1’26 Consolidated FS (including and excluding IFRS 16 impact) 36
Slide 37: Breakdown of H1'26 results by entity
Breakdown of H1’26 results by entity (excluding IFRS 16 impact) 37
Slide 38: Thank you!
Thank you! www.spheragroup.com investor.relations@spheragroup.com
Sphera Franchise Group — Investor Presentation (September 2026) on 6ix