Slide 1: Results Presentation H1-2026
Results Presentation H1- 2026 1 October 2025 - 31 March 2026 April 30 th , 2026
Slide 2: Disclaimer
Disclaimer > This document has been prepared by Logista Integral, S . A . (“Logista” or “the Company”) for information purposes, and does not constitute an offer of purchase, sale or exchange, nor an invitation for an offer of purchase, sale or exchange of shares of the Company, nor any advice or re
Slide 3: Key Highlights
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Slide 4: Key Highlights
Key Highlights 01 Positive performance in main activities in Iberia and Italy (excl. POI effect) 02 Excise tax increase in Italy and France and retail price increases in all regions during the period 03 Mitigant factors against a complex macroeconomic environment 04 Continuous commitment towards ESG
Slide 5: Key Highlights – Financial Performance
Key Highlights – Financial Performance Economic Sales per Region (% vs. H1 - 2025) 1 6,594 M€ Iberia 904 195M € M€ 32 583M € M€ (3 %) 163 136 M€ M€ Italy 3% (1%) (4%) (10%) 222M € Revenues Economic Adjusted Net Profit +4% Sales EBIT France Economic Sales backed by a strong profit on 102M € inventory
Slide 6: Key Highlights – Excise tax and retail price increases
Key Highlights – Excise tax and retail price increases Excise Tax increase Retail Price increase +0.07 € +0.20 € + 0.50 € +0.20 € +0.10 € + 0.30 € +0.25 € Excise Tax Increase Retail Price Increases ▪ Spain : no excise tax increase ▪ Price increase from all main manufacturers in all three countries ▪
Slide 7: Key Highlights – Mitigant factors on a complex Macroeconomic Environment
Key Highlights – Mitigant factors on a complex Macroeconomic Environment The current macroeconomic environment, driven by the conflict between the United States and Iran, presents both risks and opp ortunities for the logistics sector and for Logista in particular Logista’s defensive positioning and
Slide 8: Key Highlights – H1-2026 Sustainability plan update
Key Highlights – H1 - 2026 Sustainability plan update ENVIRONMENTAL SOCIAL GOVERNANCE Data protection awareness KMs rolled by 87% Women in upper and 31% 1 enhancement initiative through sustainable fleet middle management targeted training activities +36,600 Women in final stages 50% Reinforcement o
Slide 9: Business Overview
02 Business Overview
Slide 10: Iberia
Iberia Tobacco & Related Transport Pharma Other Businesses ▪ Total tobacco 1 volume in Spain & ▪ The Long - Distance segment ▪ 8% Eco Sales growth in ▪ Reduction in volumes Portugal of - 1.2% yoy continues to undergo optimization at Pharma supported by new distributed leading to a El Mosca, driven b
Slide 11: Italy
Italy Tobacco Distribution Related Products Pharma ▪ Total tobacco 1 volume - 0.9 % yoy ▪ Recycle - Cig : increase in tobacconists ▪ Continue organic growth with new around the country who joined the initiative, laboratories ▪ Change in Inventory Value 2 of 4 M€ after having over 31,000 PoS change i
Slide 12: France
France Tobacco Distribution Related Products ▪ Total tobacco 1 volume fall of -7.2% yoy ▪ Continuous growth in the electronic transactions ’ business (E - Money). ▪ Change in Inventory Value 2 of 5M€ after change in excise taxes and increases of ▪ Increase in the number of tobacconists using tobacco
Slide 13: Main Financials
03 Main Financials
Slide 14: Main Financials – Adjusted EBIT Bridge
Main Financials – Adjusted EBIT Bridge (M €, yoy%) Economic Sales ▪ Positive performance in main activities in Iberia and Italy (excluding POI effect) ▪ Relevant Profit on inventory (POI) driven by the changes in tobacco pricing in all three regions and excise tax increases in Italy and France Adjus
Slide 15: Main Financials – Net Profit Bridge
Main Financials – Net Profit Bridge (M €, yoy%) Financial Results ▪ 32M€ financial income vs. 34 M€ last year as a result of lower interest rates ▪ Average interest rate for the period of 2.48% + spread of 0.75% (vs. 3.03% average + 0.75% for H1 - 2025) ▪ Higher average credit line balance for the p
Slide 16: Main Financials – Normalized FCF Bridge
Main Financials – Normalized FCF Bridge (M €) EBITDA ▪ EBITDA 4% below the previous year , result from a lower contribution of the profit on inventory Financial Results ▪ 32 M€ financial income collected vs. 33M € last year given the lower interest rates during the period Restructuring Costs & other
Slide 17: Closing Remarks
04 Closing Remarks
Slide 18: Closing Remarks
Closing Remarks 01 Financial performance supported by a strong profit on inventory 02 Defensive business model mitigating current macroeconomic risks 03 ESG commitment executed through our 2024 - 2026 sustainability plan 04 Stable dividend expected for fiscal year 2026 18
Slide 19: Outlook 2026
Outlook 2026 1 Following the diversification strategy Logista will continue to seek small and mid - size acquisitions looking for geographical and business diversification 2 Maintaining the dividend policy remains a priority Logista intends to distribute in 2026 a dividend of at least €2.09 per shar
Slide 20: Appendix
Logista Appendix
Slide 21: Appendix. Revenues Evolution (by segment and activity)
Appendix. Revenues Evolution 1 (by segment and activity) M€ H1- 2026 H1- 2025 Δ% Iberia 2,551 2,462 3.6% Tobacco and related products 2,058 1,961 5.0% Transport 435 455 (4.4)% Pharmaceutical distribution 166 157 5.8% Other businesses 9 9 (4.8)% Adjustments (118) (120) 2.1% Italy 2,380 2,239 6.3% Tob
Slide 22: Appendix. Economic Sales Evolution (by segment and activity)
Appendix. Economic Sales Evolution 1 (by segment and activity) M€ H1- 2026 H1- 2025 Δ% Iberia 583 601 (2.9)% Tobacco and related products 203 212 (4.2)% Transport 364 372 (2.1)% Pharmaceutical distribution 60 55 8.1% Other businesses 9 9 (4.6)% Adjustments (52) (47) (10.6)% Italy 222 213 4.1% Tobacc
Slide 23: Appendix. Adjusted EBIT Evolution (per area)
Appendix. Adjusted EBIT Evolution 1 (per area) M€ H1- 2026 H1- 2025 Δ% Iberia 104 107 (2.9)% Italy 67 68 (1.3)% France 24 27 (11.6)% Total Adjusted EBIT 195 202 (3.5)% Notes: 1. Due to an organizational change Poland is now recorded in the same segment as France and not Iberia. 2025 figures have bee
Slide 24: Appendix. Profit & Loss Account
Appendix. Profit & Loss Account M€ H1- 2026 H1- 2025 Δ% Revenues 6,594 6,425 2.6% Economic sales 1 904 916 (1.3)% (- ) Operating cost of logistics networks 1 (615) (627) 2.0% (- ) Commercial operating expenses 1 (39) (36) (8.0)% (- ) Operating expenditure on research and central offices 1 (51) (55)
Slide 25: Appendix. Cash Flow Statement
Appendix. Cash Flow Statement M€ H1- 2026 H1- 2025 Change EBITDA 251 261 (11) Restructuring and other payments (5) (5) 0 Net financial income/(expense) 32 33 (2) Normalised taxes (57) (59) 2 Investment (Capex) (24) (28) 4 Rent payments (38) (37) (1) Normalised Cash Flow 157 164 (8) Change in working
Slide 26: Appendix. Balance Sheet
Appendix. Balance Sheet M€ Mar. - 26 Sept. - 25 Property, plant and equipment and other fixed 496 485 assets Net long - term financial investments 34 34 Net goodwill 1,012 1,012 Other intangible assets 173 201 Deferred tax assets - - Net inventory 1,948 1,893 Net receivables and other 2,164 2,034 Ca
Slide 27: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Economic Sales : equivalent to Gross Profit and used without distinction by the Group’s Management to refer to the figure resulting from subtracting Procurements from the Revenue figure. The Group’s Management considers that this figure is a meaningful meas
Slide 28: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Adjusted EBIT: This indicator is calculated, basically, by deducting from the Operating Profit those costs that are not directly related to the revenue obtained by the Group in each period, thus facilitating the analysis of the Group’s operating costs and m
Slide 29: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Adjusted EBIT margin over Economic Sales: calculated as Adjusted EBIT divided by Economic Sales (or, indistinctly, Gross Profit). This ratio is the main indicator used by the Group’s Management to analyse and measure the profitability obtained by the Group’
Slide 30: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Operating costs: these include the costs of logistics networks, commercial expenses, research expenses and head office expenses that are directly related to the revenues obtained by the Group in each period. It is the main figure used by the Group’s Managem
Slide 31: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures Non - recurring costs: This term refers to those expenses which, although they might occur in more than one period, do not have continuity in time (unlike operating expenses) and only affect the accounts at a specific moment. This figure helps the Group’s M
Slide 32: Your partner along the way, all the way
Your partner along the way, all the way