Azimut Holding: 1Q 2026 net profit at € 125 million (recurring net profit +15%) (Press release)

About this update from Azimut Holding Spa

PRESS RELEASE Azimut Holding: 1Q 2026 net profit at € 125 million (recurring net profit +15%) 2026 targets 1 confirmed: Net inflows: € 10 billion Net profit: € 550 million, excluding extraordinary items KPIs of the Group and 1Q 2026 highlights: Revenues: € 371 million (recurring revenues 2 +14% YoY) EBIT: € 164 million (recurring EBIT 3 +14% YoY) Net profit at € 125 million (recurring net profit 4 +15% YoY) Net Inflows: € 4.6 billion (of which 49% from global operations) Total Assets as of 31 March 2026: € 144 billion (+32% YoY) Milan, 7 May 2026 The Board of Directors of Azimut Holding (AZM.IM) has approved today the consolidated interim financial results as of 31 March 2026. 1Q 2026 Financials Azimut Holding consolidated total revenues amounted to € 371 million in 1Q 2026, driven by a 14% increase in recurring fees across all core markets, with particularly strong contributions from Italy, US, UAE and Brazil . Total operating costs amounted to € 206 million in 1Q 2026 and increased in line with the Group's continued global expansion and commercial momentum . Operating profit amounted to € 164 million in 1Q 2026, with recurring EBIT (net of performance fees) growing 14% year-on-year to € 157 million . Net profit equaled to € 125 million in 1Q 2026, with recurring net profit growing by 15% to € 128 million and reflecting the resilience and scalability of Azimut's business model . FY 2026 Guidance Based on the robust operational performance achieved to date and in line with the Group's continued commitment to its sustainable growth strategy, Azimut confirms its targets for 2026 estimating, under normal market conditions, total net inflows of € 10 billion and a net profit of € 550 million, excluding extraordinary items . Net inflows and Total Assets The first quarter delivered strong commercial results, with net inflows reaching € 4.6 billion and total assets rising to € 144 billion . This trend reflects a growing appreciation for Azimut's solutions across public and private markets. Within the private markets space, commercial momentum remains solid, supported by exclusive investment opportunities for Italian clients sourced through the global network of the Group. Pietro Giuliani, Chairman of Azimut Group, states: "We are starting 2026 with numbers that fully validate our strategic direction. Our active management , carried out by approximately 250 outstanding colleagues across 20 countries worldwide , allows us to showcase a net weighted average performance for our clients of 2.14% in the first four months, equal to 6.66% on an annualized basis , and superior to the competition , which stands at 1.70% for the Fideuram index of Italian mutual funds. The TNB transaction will allow us to optimize the number of financial ‌1 Assuming normal market conditions. ‌2 Total revenues excluding total performance fees (from funds and insurance). ‌3 Recurring revenues minus total operating costs. ‌4 Reported net profit excluding (i) total performance fees, net of taxes, (ii) fair value of options, (iii) net non-operating costs, net of tax, (iv) certain unrealized gains (losses), (v) net capital gain on sale of stake in Kennedy Lewis and RoundShield, (vi) IFRS 17 impact and (vii) one-off tax refund (IRAP on infra group dividends). advisors and bankers in both entities while putting the individual at the center . In a more focused environment, our people can enhance their professional skills much faster, supported by training with cutting edge artificial intelligence tools . To provide access to complex products that are otherwise unavailable from competitors in the Italian market, we must constantly elevate the quality of our professionals. This is exactly what the people centric business model of Azimut is all about." ‌ Giorgio Medda, CEO of the Group, comments: "We are accelerating our growth strategy through the launch of new investment solutions designed to respond in an increasingly targeted way to the evolving needs of our clients. We will continue to broaden our range of listed products, introducing new funds and strategies centered on global and highly specialized investment themes. Furthermore, as part of this effort, we are preparing to launch five new active ETFs in the United States through the Azimut NSI platform . At the same time, we are driving forward our strategic expansion and continuous product innovation in private markets . Empowered by our global ecosystem, we recently secured exclusive access for our Italian clients to a prominent US artificial intelligence project , allowing them to co-invest alongside leading institutional investors. Including this club deal, our private markets inflows in recent months will exceed 950 million 5 euros, projecting us firmly toward our goal of over 2 billion 5 euros by the end of the year. Providing our clients with direct access to such elite innovation opportunities is a key differentiator of our platform and a central pillar of our value proposition." Alessandro Zambotti, CEO and CFO of the Group, adds: "The results of the first quarter represent a solid baseline for 2026. By delivering 371 million euros in revenues and 125 million euros in net profit , we have once again proven the quality and resilience of our business model, even within a complex geopolitical environment. The commercial momentum recorded across all our core business areas has translated into elevated profitability and strong cash generation, further reinforcing our capacity to fund growth and remunerate our shareholders . This excellent start to the year allows us to confirm our 2026 targets and advance our strategic initiatives , as we continue to invest in the global expansion of the Group to create further value over time." Lastly, based on the declarations provided by the Independent Directors and the information available to the Company, the Board evaluated the independence criteria envisaged by art. 147-ter, paragraph 4 and 148, paragraph 3 of the TUIF and art. 3 of the Corporate Governance Code. The Officer in charge of the preparation of Azimut Holding SpA accounting documents, Alessandro Zambotti (CFO), declares according to art.154bis co.2 D.lgs. 58/98, that the financial information herein included, corresponds to the records in the company's books. Attached: Consolidated reclassified income statement as of 31 March 2026 Consolidated net financial position as of 31 March 2026 Consolidated income statement as of 31 March 2026 Consolidated balance sheet as of 31 March 2026 Azimut is an independent, global group specializing in asset management across public and private markets, wealth management, investment banking, and fintech, serving private and corporate clients. Listed on the Milan Stock Exchange (AZM.IM), the Group is a leading player in Italy and operates in 20 countries worldwide, with a focus on emerging markets. The shareholder structure includes approximately 2,000 managers, employees, and financial advisors bound by a shareholders' agreement that controls around 21% of the company. The Group comprises a network of companies active in the management, distribution, and promotion of financial and insurance products, with registered offices in Italy, Australia, Brazil, Chile, China and Hong Kong, Egypt, Ireland, Luxembourg, Morocco, Mexico, Monaco, Portugal, Saudi Arabia, Singapore, Switzerland, Taiwan, Türkiye , the United Arab Emirates and the United States. ‌5 Includes capital raised for funds launched in Q4 2025 that are still in the fundraising period. Contacts - Azimut Holding S.p.A. http://www.azimut-group.com/ Investor Relations Alex Soppera, Ph.D. Tel. +39 02 8898 5671 E-mail: [email protected] Media Relations Viviana Merotto Tel. +39 338 74 96 248 E-mail: [email protected] Maria Laura Sisti Tel. +39 347 42 82 170 E-mail: [email protected] CONSOLIDATED RECLASSIFIED INCOME STATEMENT €/000 1Q 2025 1Q 2026 Entry commission income 3,355 Recurring fees 279,974 Variable fees (1,388) Other income 7,037 Insurance revenues 31,973 7,594 318,718 680 8,028 35,535 Total Revenues 320,952 370,555 Distribution costs (112,127) Personnel and SG&A (61,806) Depreciation, amortization & provisions (6,086) Operating costs (180,019) (116,300) (81,865) (8,095) (206,261) Operating Profit 140,933 164,294 Finance income 14,542 Net non-operating costs (650) Finance expense - 6,539 (2,123) (1,222) Profit Before Tax 154,826 167,488 Income tax (33,329) Deferred tax (3,054) (34,460) (2,245) Net Profit 118,443 130,783 Minorities 3,197 5,490 Consolidated Net Profit 115,246 125,293 Recurring Net Profit (1) 111,375 127,960 (1) Reported net profit excluding (i) total performance fees, net of taxes, (ii) fair value of options, (iii) net non-operating costs, net of tax. CONSOLIDATED NET FINANCIAL POSITION €/000 31-03-25 31-12-25 31-03-26 Bank loan (136) (338) (45,313) Total debt (136) (338) (45,313) Cash 610,167 498,933 591,229 Cash equivalents 144,240 132,602 132,615 UCI units & government securities 227,148 181,436 194,289 Cash & cash equivalents 981,555 812,972 918,132 Net financial position 981,419 812,634 872,819 Lease Liabilities (IFRS 16) (27,184) (29,912) (25,662) Net financial position incl. IFRS 16 954,235 782,722 847,157 €/000 1Q 2025 1Q 2026 Fee and commission income 314,492 Fee and commission expense (97,287) 361,990 (99,917) Net fee and commission income 217,205 262,073 Dividends and similar income 3,814 Interest income and similar income 3,059 Interest expense and similar charges (324) Profits (Losses) on disposal or repurchase of: 221 b) financial assets at fair value through other comprehensive income 221 Net gains (losses) on financial assets and financial liabilities at FVTPL 5,889 assets and liabilities designated at fair value 2,613 other financial assets compulsorily measured at fair value 3,276 Insurance service result 9,076 Net insurance and investment result (1,276) 327 3,574 (2,453) 81 81 2,689 (4,074) 6,763 9,688 (503) Net Margin 237,664 275,476 Administrative expenses: (80,656) personnel expenses (35,477) other expenses (45,179) Net accruals to the provisions for risks and charges (365) Net impairment losses/reversal of impairment losses on property and equipment (2,062) Net impairment losses/reversal of impairment losses on intangible assets (4,006) Other administrative income and expenses 735 (102,099) (51,646) (50,453) (1,344) (2,760) (6,222) 1,413 Operating costs (86,354) (111,012) Profit (Loss) on equity investments 3,516 3,024 Pre-tax Profit (Loss) from continuing operations 154,826 167,488 Income tax (36,383) (36,705) Net profit (loss) for the period/year 118,443 130,783 Profit (Loss) for the period/year attributable to minority interest 3,197 5,490 Profit (Loss) for the period/year attributable to the Parent Company 115,246 125,293 Earnings per share / Euro 0.81 0.88 Diluted earnings per share / Euro 0.81 0.88

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