Slide 1: August 4th 2026 1H26 Results
il —_ > n Wu [4 >} —— > 1 a es VEN Nan 7 \
Slide 2: Disclaimer
Disclaimer IMPORTANT NOTICE This presentations 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 current views with respect to
Slide 3: Agenda
Agenda 1H26 Executive Outlook & 1H26 Financials Summary Guidance 3
Slide 4: Executive Summary – Record 2Q Results
Executive Summary – Record 2Q Results Record 2Q Net Sales in 2Q26 Best ever quarterly Adj. EBITDA in 2Q26 €285.1m €47.5m +4.9% c.FX vs 2Q25 +5.0% or €+2.3m vs 2Q25 16.7% margin on Net Sales, +16Bps vs 2Q25 +4.0% Rep. FX vs 2Q25 1H26 Adj. EBITDA €72.6m 1H26 Net Sales €512.5m -2.6% or -€2.0m vs. 1H25
Slide 5: Executive Summary
Executive Summary Record 2Q revenues and best ever quarterly Adj. €m 2Q26 2Q25 % vs 2Q25 EBITDA for the Group in 2Q26. Re p FX c FX Revenues 285,1 274,1 4,0% 4,9% 2Q Adj. EBITDA 47,5 45,3 5,0% Value Added Sales overall in line with 1H25 levels despite 1Q gap and FX headwinds. Adj. EBITDA % 16,7% 16,
Slide 6: 1H26 Financials - Sales Performance – Revenues by BU
1H26 Financials - Sales Performance – Revenues by BU 2Q26 1H26 1H25 Hair & Body Hair & Body Hair & Body 24,8% 23,3% 21,7% 60,7% 13,8% 62,9% 14,9% 63,5% 14,5% Skincare Skincare Make Up Make Up Skincare Make Up Sequential 2Q improvement in all Business Units • Make-up reported revenues of €173.1m in 2
Slide 7: 1H26 Financials - Sales Performance – Revenues by Region
1H26 Financials - Sales Performance – Revenues by Region 2Q26 1H26 1H25 Asia Asia Asia 21,9% 21,0% 22,3% 51,1% EMEA 51,4% EMEA 49,7% EMEA 26,9% 27,6% 28,1% Americas Americas Americas • EMEA grew at double digit pace (+10% YoY) in 2Q26, reaching €145.8m, thanks to the strong performance of Prestige c
Slide 8: 1H26 Financials - Sales Performance – Revenues by Customer Type
1H26 Financials - Sales Performance – Revenues by Customer Type 2Q26 1H26 1H25 Retailers Multinationals Retailers Retailers Multinationals Multinationals 5,9% 5,6% 6,7% 45,6% 47,4% 50,0% 48,5% 47,0% 43,2% Emerging Emerging Emerging Brands Brands Brands • Multinational clients recorded sales of €130m
Slide 9: 1H26 Financials – P&L Highlights vs 1H25
1H26 Financials – P&L Highlights vs 1H25 • 1H26 Net sales came in at €512.5m, impacted by FX headwinds and almost reaching 1H25 level on an organic basis (-2.4% reported, -0,5% at constant FX), thanks to 2Q offsetting most of the 1Q decline. Value Added Sales (VAS) were €404.6m in 1H26, substantiall
Slide 10: 1H26 Financials – Adjusted EBITDA by BU
1H26 Financials – Adjusted EBITDA by BU €m Group Adj. EBITDA Make-up Skincare Hair&Body -3% EBITDA/ 74,5 72,6 Net Sales +9% VAS = Value Added Sales 53,2 48,9 -25% -24% 11,3 14.2% 14.2% 14,3 8,5 10,8 (18.2% (17.9% 14.7% 16.5% 18.3% 15.3% 9.9% 7.1% On VAS) On VAS) 1H25 1H26 1H25 1H26 1H25 1H26 1H25 1H
Slide 11: 1H26 Financials – Cash Flow & Net Debt
1H26 Financials – Cash Flow & Net Debt Var. vs €m 1H26 1H25 1H25 Adjusted EBITDA 72,6 74,5 (2,0) Adjustments (*) (3,4) (5,5) 2,1 Change in TWC (28,4) (35,9) 7,5 Other Chg. in NWC 14,2 7,9 6,2 Capex (28,6) (33,4) 4,7 Operating cash flow for the first six months amounted to €26.2m, up €+18.6m year-ove
Slide 12: Outlook & Guidance
Outlook & Guidance Topic Update In a still volatile macro-economic environment, impacted again by numerous geo-political events, the global Beauty market has displayed an overall positive growth dynamics during the first half of 2026, although some differences were visible across the various geograp
Slide 13: Appendix
Appendix 13
Slide 14: P&L and Related Adjustments
P&L and Related Adjustments Var. vs % vs €m 1H26 1H25 1H25 1H25 Net Sales 512,5 524,9 (12,4) (2,4%) COGS (401,5) (413,1) 11,6 (2,8%) Industrial gross profit 111,0 111,8 (0,8) (0,7%) % on net sales 21,7% 21,3% Res ea rch & Devel opment a nd i nnova tion cos ts (23,9) (21,5) (2,4) 11,1% Sel l i ng exp
Slide 15: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Var. vs €m 30Jun26 31Dec25 31Dec25 Ta ngi bl e As s ets 251,6 252,1 (0,6) Intangi bl e As s ets 73,5 72,1 1,4 Goodwi l l 134,1 133,8 0,3 Inves tments 1,5 1,5 (0,0) Deferred tax a s s ets 26,4 26,1 0,2 Other non-current As s ets /Li a b. (10,1) (10,0) (0,2) Non-current Ass
Slide 16: Definitions
Definitions For the purpose of providing information in line with the performance analysis and control parameters of the Group, non-IFRS alternative performance measures are used by management to provide information for a better assessment of the results of operations and the financial position of t