Fiera Milano Spa · MIL:FM
Fiera Milano Spa — Investor Presentation (October 2026)
47 slides from Fiera Milano Spa's investor presentation, October 2026
Slide 1: Fiera Milano Investor Presentation
Fiera Milano Investor Presentation October 2026
Slide 2: Agenda
AGENDA 01 ▪ FIERA MILANO OVERVIEW 04 ▪ GUIDANCE & CAPITAL ALLOCATION 02 05 ▪ HISTORICAL ▪ ESG PERFORMANCE PERFORMANCE & H1 2026 RESULTS 03 ▪ STRATEGIC PLAN 2024-2027
Slide 3: Fiera Milano Overview
FIERA MILANO OVERVIEW
Slide 4: The Key Pillars of Fiera Milano Equity Story
THE KEY PILLARS OF FIERA MILANO EQUITY STORY ▪ 100+ years of heritage | 1° exhibition in 1920 CENTURY-LONG HERITAGE 1 & MARKET LEADERSHIP ▪ #1 in Italy by revenues, #7 globally by exhibition space ▪ Mission-critical for SMEs | 30k+ exhibitors, c.4m visitors per year PRIME MILAN LOCATION AND ▪ Rho (3
Slide 5: Prime Milan Location and World-Class Infrastructure as Competitive Advantage
PRIME MILAN LOCATION AND WORLD-CLASS INFRASTRUCTURE AS COMPETITIVE ADVANTAGE ▪ 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 congress/year ▪ 2
Slide 6: 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 7: Italian Portfolio of Approximately 60 Exhibitions Across Key Sectors
Exhibitions organized Owned exhibitions (Italy) Hosted exhibitions Services Congresses abroad 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 Sector and Mod
Slide 8: Exhibition Space Sales and Key Services Provided
Exhibitions organized Owned exhibitions (Italy) Hosted exhibitions Services Congresses abroad 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 process of the event
Slide 9: International Development as a Growth Lever
Exhibitions organized Owned exhibitions (Italy) Hosted exhibitions Services Congresses abroad 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 , carries out s
Slide 10: Allianz MiCo Key Numbers
Exhibitions organized Owned exhibitions (Italy) Hosted exhibitions Services Congresses abroad CORPORATE CONFERENCES INTERNATIONAL ASSOCIATION CONGRESSES INSTITUTIONAL EVENTS Keynumbers Size Conference rooms Events hosted in the last year Professionals from all over the world 10
Slide 11: Accelerating Growth Through M&A: Four Strategic 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 11
Slide 12: 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 13: Temporary Infrastructure Supporting the Olympic Winter Games
TEMPORARY INFRASTRUCTURE SUPPORTING THE OLYMPIC WINTER GAMES ▪ Speed Skating – Halls 13-15: a 400-metre Olympic-standard track was built, together with a temporary grandstand with approximately 6,500 seats, a training track, changing rooms and supporting technical facilities. ▪ Ice Hockey – Halls 22
Slide 14: Historical Performance & 1H 2026 Results
HISTORICAL PERFORMANCE & 1H 2026 RESULTS
Slide 15: 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 16: A More Balanced Event Portfolio Reduces Revenue Seasonality
A MORE BALANCED EVENT PORTFOLIO GRADUALLY REDUCES REVENUE SEASONALITY [ODD] Biennial exhibition revenues Annual exhibition revenues [EVEN] Biennial exhibition revenues Multiannual exhibition revenues Tuttofood revenues Congresses Olympics M&A and change of perimeter Others 2023 2024 2025 2026 2027 O
Slide 17: Solid Growth and Strong Profitability Improvement in 1H 2026
SOLID GROWTH AND STRONG PROFITABILITY IMPROVEMENT IN 1H 2026: REVENUE UP 38% AND EBITDA UP 49% VS. 1H 2025; NET PROFIT MORE THAN DOUBLED TO €50.7 MILLION REVENUES (€m) EBITDA (€m) NET INCOME (€m) NET CASH (€m) FINANCIAL +67.9 +30.9 RESULTS +38% +49% +27.5 -47.9 +119% 245.7 157.2 177.9 94.0 144.4 50.
Slide 18: Fiera Milano Wins Inter Airport Global Exhibition
FIERA MILANO WINS A NEW INTERNATIONAL EXHIBITION FOR THE AIRPORT INDUSTRY: INTER AIRPORT GLOBAL, IN RHO FROM 12 TO 14 OCTOBER 2027 FIERA MILANO, MILANO, ITALY 18
Slide 19: A Robust 2026 Calendar with Reduced Seasonality
A ROBUST 2026 CALENDAR WITH REDUCED SEASONALITY, NEW EVENTS AND INCREMENTAL M&A CONTRIBUTIONS ▪ Solid 2026 event portfolio, supported by biennials (MCE, Tuttofood – now on even years; Simei) and multi-year events (CPHI and Plast) ▪ Incremental contribution from Expotrans and consolidation of events
Slide 20: Fiera Milano - Key Market Highlights
FIERA MILANO - KEY MARKET HIGHLIGHTS FIERA MILANO - KEY MARKET HIGHLIGHTS IPO ▪ 12 December 2002 – STAR segment Market Cap ▪ € 595m (average over the last 30 days) Share Price ▪ € 8.3 (average over the last 30 days) ▪ 50k shares/day (average over the last 30 days) Liquidity (trading volumes) ▪ ~€ 0.
Slide 21: Shareholding Structure and Growing Weight of Institutional Investors
FIERA MILANO’S SHAREHOLDING STRUCTURE AND THE GROWING WEIGHT OF INSTITUTIONAL INVESTORS Shareholding Structure No. of Shares % of Share Capital Share Capital 71,917,829 100.00% Fondazione Fiera Milano 45,898,995 63.80% Camera di Commercio Milano Monza Brianza 4,689,317 6.50% Total Significant Shareh
Slide 22: ESG Performance
ESG PEFORMANCE
Slide 23: ESG Scorecard - 2025 Performance
ESG SCORECARD - 2025 PERFORMANCE Environment Social Governance Total CO2 emissions (tCO2eq) % Renewable sources used Employees Diversity Training hours Sustainability governance Certifications Market based Women in Sustainability & Innovation management Under 30 +8% Committee (internal board -57% +3
Slide 24: Strategic Plan 2024-2027
STRATEGIC PLAN 2024-2027
Slide 25: 2024-2027 Plan Builds 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 26: 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 27: 1.1 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 28: 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 29: 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 & s
Slide 30: The Acquisition of 70% of Made in Steel
THE ACQUISITION OF 70% OF MADE IN STEEL • Target company: Made Synergies & strategic rationale: in Steel S.r.l., organizer – Strategic partnership with Siderweb S.p.A. SB, founder of the event, which will retain a 30% stake in the company, of the biennial ensuring full organizational and brand conti
Slide 31: 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 32: 1.2 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 33: 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 34: 1.3 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 35: 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 36: The Acquisition of Stipa
THE ACQUISITION OF STIPA STIPA NICE TO SHOW YOU 36
Slide 37: 1.4 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 38: Live Dome Event Lineup
22 MAGGIO 2026 OLIVIA DEAN PALDI 25 AGOSTO 2026 TYLER, THE CREATOR 19 SETTEMBRE ANYMA FEDEN
Slide 39: Live Dome: Business and Entertainment Come Together (1/2)
LIVE DOME: BUSINESS AND ENTERTAINMENT COME TOGETHER (1/2) LIVE DOME: BUSINESS AND ENTERTAINMENT COME TOGETHER (1/2) LIVE Dome is Fiera Milano’s new indoor venue dedicated to large-scale sports, music, cultural, and entertainment events. The facility expands and diversifies the offering of the exhibi
Slide 40: Live Dome: Business and Entertainment Come Together (2/2)
LIVE DOME: BUSINESS AND ENTERTAINMENT COME TOGETHER (2/2)
Slide 41: Guidance & Capital Allocation
GUIDANCE & CAPITAL ALLOCATION
Slide 42: Revenue: Contribution to Growth by Business Line
REVENUE: CONTRIBUTION TO GROWTH BY BUSINESS LINE 0 380-400 3 5308- 370 2732 7 3 42
Slide 43: EBITDA: Contribution to Growth by Business Line
EBITDA: CONTRIBUTION TO GROWTH BY BUSINESS LINE 1 11 5 32-125 100-110 84 43
Slide 44: €88 Million Capex Supporting the Plan
€ 88 MILLION CAPEX SUPPORTING THE PLAN 44
Slide 45: Over €150M Net Financial Availability for Inorganic Growth and Dividends
OVER € 150 M OF NET FINANCIAL AVAILABILITY TO SUPPORT INORGANIC GROWTH AND A STEADY DIVIDEND POLICY 45
Slide 46: 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 47: 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