Smart Capital S.p.a. · MIL:SMCAP
Smart Capital — Investor Day (May 2026)
24 slides from Smart Capital's investor day presentation, May 12, 2026
Slide 1: Smart Capital Investor Day
Smart Capital Investor Day Long-term Investors 12" May 2026
Slide 2: Who We Are
WHO WE ARE 2
Slide 3: Smart Capital at a glance
Smart Capital at a glance Company Description ➢ Smart Capital S.p.A. is an evergreen investment holding company specializing in minority private equity investments, focusing on Italian SMEs, both listed and unlisted. ➢ The Group, led by two experienced managers, operates since 2020, it aims for a lo
Slide 4: Financials & NAV
FINANCIALS & NAV 4
Slide 5: Key Financials
Key Financials ➢ In 2025, Smart Capital continued its growth trajectory, achieving its strongest economic and financial results since inception. Revenues from Advisory Financial Income Group's Net Income 1,0m € 13,6m € 8,9m € 0,8m € 0,4m € 4,3m € 2,1m € 1,9m € 0,1m € 0,1m € 0,6m € 1,1m € 0,5m € 0,9m
Slide 6: Main Exit in 2025
Main Exit in 2025 Cash-In 3.6 m € Cash-In 14.8 m € MoIC 1.7x MoIC 2.6x Smart Capital completed the divestment in Sogefi, a listed Italian company specializing in the design and manufacture of automotive components. The exit generated total cash proceeds A.L.A. is a group specializing in the distribu
Slide 7: Solid and decorrelated portfolio
Solid and decorrelated portfolio Smart Capital NAV1 has registered +97% + dividends since inception VIN > 230 FTSE Italia Small Cap FTSE Italia STAR NAV Smart Capital 220 199 200 189 175 176 180 172 160 140 130 121 120 112 100 80 60 dic-21 ott-22 dic-22 dic-23 ott-24 dic-24 dic-25 ott-21 ott-23 ott-
Slide 8: Target price update
Target price update SNNPAOLO Smart Capital Strong Net Income in 2025, Over EUR 25M Consolidated Liquidity The company in FY25 activity and some that brought liquidity available fo over EUR 25M at consolidated level. Asstrong net income and NAV, driven by the valorisation of some investments... Advis
Slide 9: Portfolio Overview
PORTFOLIO OVERVIEW 9
Slide 10: Solid Portfolio @31/12/2025
Solid Portfolio @31/12/2025 Sector Exposure 15 Portfolio Companies Manufacturing Listed vs Unlisted Mechanics 23% 6 6 34% Manufacturing Other 11% 1 1 1 Logistics 21% EGM - Italy EM - Italy Euronext - STAR - Italy Private Equity Netherlands Technology . 21% Total Assets Engineering Consolidated 19% P
Slide 11: Main Investments @31/12/2025 (1/2)
Main Investments @31/12/2025 (1/2) Stake Stake Stake Stake ~3,7%* ~12,0% ~0,8% ~3,9%* 2025A 2025A 2025A 2024A Revenues 267m € Revenues 6m € Revenues 831m € Revenues 51m € EBITDA 70m € EBITDA 2m € EBITDA 80m € EBITDA 7m € EBITDA% 26% EBITDA% 36% EBITDA% 10% EBITDA% 13% Electromechanical Agri & Automo
Slide 12: Main Investments @31/12/2025 (2/2)
Main Investments @31/12/2025 (2/2) Stake Stake Stake Stake ~43,6%* ~48,9% ~0,3%* ~13% 2025A 2025A 2025A Fundraised Revenues 53m € Revenues 7m € Revenues 67m € > 700m € EBITDA% >15% EBITDA% ~20% EBITDA% >3% Precision mechanical Advanced nuclear energy Fruit and vegetable Heavy lifting and machining f
Slide 13: Key Events of 2026
KEY EVENTS OF 2026 13
Slide 14: Key events of 2026
Key events of 2026 Smart Capital completed a capital increase for a total of €8 million at €1,65/per share, with the participation of several entrepreneurial families from the Marche region. Smart Capital has increased its stake from 5.00% to 12.01% in Arterra Bioscience, a biotech company, with the
Slide 15: What's Next
WHAT’S NEXT 15
Slide 16: Launch of three industrial platforms
Launch of three industrial platforms Precision Lifting SME Engineering Solutions Consulting Platform Platform Platform In December 2025, Smart Capital, In December 2022, Smart Capital, In May 2026, Smart Capital become through Smart4Mechanics, acquired through SmartVSL, acquired 43,6% first sharehol
Slide 17: Precision Engineering Platform
Precision Engineering Platform Smart4Mechanics is a sector-focused platform aimed at aggregating Italian excellence in the mechanical sector, with the objective of building an Italian consolidator player Smart Capital envisages bringing selected families and entrepreneurs into the shareholding struc
Slide 18: Lifting Solutions Platform
Lifting Solutions Platform Midolini Group specializes in lifting, handling, loading and unloading services for goods in port operations and 36,7% heavy cargo logistics. Smart Logistics 59,9% 2024 Consolidated 2025 Consolidated SmartVSL Revenues 43,2 m € Revenues 52,5 m € 43,6% EBITDA Adj 6,5 m € EBI
Slide 19: From advisory supporting Smart Capital ecosystem…
From advisory supporting Smart Capital ecosystem… ADVISORY BUSINESS DEVELOPMENT ▪ Strategic Advisory ▪ Mentoring ▪ Sourcing potential investments targets, especially in the mechanics vertical ▪ M&A and Debt Capital Markets ▪ Identifying high net worth industrial families ▪ Corporate Finance potentia
Slide 20: … to a new Combined Entity: services for SMEs
… to a new Combined Entity: services for SMEs The “Combined Entity” is an integrated advisory firm focused on SMEs, providing high value-added services. The M&A process between Smart4Tech (controlled by Smart Capital), CrowdFundMe and WeAreStarting will be finalized by the end of May 2026, and the c
Slide 21: Key Highlights
KEY HIGHLIGHTS 21
Slide 22: Key Investment Highlights
Key Investment Highlights Permanent Capital Entrepreneurial Experienced Investor Shareholders Management Team Leading Italian investor Long-term shareholders Proven track record in both focused on SMEs across base leveraging on several industrial and M&A / PE public and private entrepreneurial famil
Slide 23: Thank You!
THANK YOU! 23
Slide 24: Disclaimer
Disclaimer The information contained in this document, particularly regarding any potential or assumed future performance of Smart Capital, constitutes or may constitute forward-looking statements and, as such, involves certain risks and uncertainties. Any reference to past performance should not be