2025 Annual results and new strategic signature presentation

New capabilities, new ambitions

FY 2025 Results

19 March 2026

Conceptual rendering for the Mahatma Gandhi Sabarmati Ashram Memorial project in India, by Museum Studio

CONTENTS

1

Strategic review

2

Portfolio review

3

Asset and financial review

4

Conclusion

Bespok e offering, Swaine's flagship store at New Bond

Street, London, UK

1

Strategic review

Michaël Fribourg Chairman & CEO

Project of Museum Studio, Milken Center for Advancing the American Dream, USA

The sale of Novacel brings renewed strategic and portfolio coherence to Compagnie Chargeurs Invest

Value crystallization

Cash proceeds from sale of €230m(1) and an estimated capital

For the business

An opportunity to strengthen Novacel's role as a global consolidator in its markets, supported by KPS Capital Partners, a well-established partner with very strong industrial and financial capabilities

For the Group

Enhanced clarity, with businesses positioned to benefit from the future of emotional economy

For the shareholders

Greater visibility on the recurrence and predictability of revenues and profits

gain on sale of approx. €50m(2) illustrating the Group's ability to incubate and create value in global leaders

A more resilient business profile

Evolution toward a less cyclical operating model with lower capital needs (CAPEX et working capital)

Enhanced financial flexibility

Generation of significant financial resources and increased flexibility to support future development

Contribution to future value creation

Reinvestment of 25% in the new Novacel to support and benefit from future value creation

Active portfolio rotation

A disciplined asset arbitrage strategy aimed at optimizing valuation and capital allocation

Payment of an exceptional dividend of €1.5 / share(3)

5

1. Before reinvestment of 25% in the new Novacel

2. Estimated capital gain in the consolidated financial statements, based on assumptions and information currently available, at comparable scope and conditions. This figure is provided for information purposes only and does not constitute a commitment or a guarantee of future performance. Final amount may differ materially once the Novacel sale is effectively completed

3. Subject to the approval of the relevant Group governance bodies

   A strengthened financial profile following the Novacel sale

   The sale of Novacel will be completed in H1 2026

   NOVACEL

   Disposal of the controlling stake

(1) These data and ratios are prepared based on assumptions and information currently available, at comparable scope and conditions. They are provided for indicative purposes only and do not 6

constitute a commitment or a guarantee of future performance. Final results may differ materially once the Novacel sale is effectively completed.

A portfolio rotation that materializes the transformation of Compagnie Chargeurs Invest's growth profile

An active portfolio value-enhancement strategy

Value creation through the strategic and operational transformation of assets

A disciplined long-term portfolio arbitrage, aimed at maximizing and crystallizing value creation

A profile of less cyclical leaders

Strategically non-replicable assets, positioned at the heart of the emotional economy and emotional intelligence, driven by durable structural trends and offering a predictable revenue and growth profile

A significantly strengthened financial capacity for development

A significantly strengthened balance sheet following the Novacel sale

A strong redeployment capacity

Supporting its transformation, Chargeurs has chosen to prioritize its asset value enhancement strategy, unlocking significant financial flexibility for the future

Prioritizing the asset value enhancement strategy

• A strategy aimed at strengthening the balance sheet and enhancing liquidity

• Tactical management of operational investments to accelerate returns on new businesses following the Novacel disposal

• Completion of the Novacel disposal and finalization of investments in new businesses, delivering a dual benefit:

  • Stronger balance sheet and increased equity

  • Improved future profitability profile

A net asset value confirmed by the Novacel sale proceeds and effectively protected in a volatile macroeconomic environment

NET ASSET VALUE (1)

25 % ownership stake

+

Strong redeployment capacity

Today, a portfolio of heritage-rich assets and brands, offering high strategic potential and significant barriers to entry

A UNIQUE PORTFOLIO OF PRESTIGIOUS ASSETS

Cilander

Swaine

Herbert Johnson

Altesse Studio

Rayne

Lainière de Picardie

Bertero

Skira

D&P

Beau Cèdre Institute

Building on its refocusing, Chargeurs unveils its new strategic signature : « Architect of Rarity »

A NEW STRATEGIC SIGNATURE

Our vision and ambition in the era of the new AI revolution

Our differentiation

Concentrating the allocation of our resources on

« safe-haven » activities

A portfolio of assets built around strong rarity and desirability

Activities that are non-substitutable by technology and distinguished by heritage, material, technological, cultural, or emotional rarity

Cultural rarity

Know-how rarity

Creative rarity

Technological rarity

Our mission

Under the signature "Architect of Rarity", Compagnie Chargeurs Invest is a hybrid operator and financial group, dedicated to the maximization of shareholder value through the ownership and operational development of critical,

non-substitutable assets - cultural, technological and experiential - positioned in the exclusive market of emotional intelligence and self-reappropriation.

NOVACEL

Adaptation through productivity improvements and price increases, supported by strong pricing power

CHARGEURS PCC

Fashion activities

Adaptation to the new tariff geography through a reorganization of global logistics flows, opening up new opportunities in Southeast Asia and Central America

MUSEUM STUDIO

Museum Studio's activity shielded from volatility thanks to a very strong order backlog

PERSONAL GOODS

Compelling dynamics across the three Personal Goods brands, underpinned by unique and differentiated positioning

In 2025, Chargeurs positioned itself to benefit from a new economic and geostrategic environment

Driven by visibility on the Novacel sale, Chargeurs completed in 2025 its strategic transformation investments cycle

FASHION & KNOW-HOW

Chargeurs PCC

Fashion & Technical Textiles activities

Adaptation, transformation et reorganization

• Completion of the rationalization of the industrial footprint

• Transformation and reorganization of Senfa Cilander in order to drive growth, with significant investments in the high-potential markets of defense, mobility and outdoor

  Personal Goods

  Continued expansion of the three brands

  • Completion of rebuilding the B2C brands

  • Opening of new stores and development of new collections to accelerate growth

INNOVATIVE MATERIALS

Novacel

Acceleration of future growth

• Substantial investments for the

  reorganization of U.S. industrial sites

• Corporate-level costs incurred as part of the disposal of Novacel to a leading industrial and financial partner

CULTURE & EDUCATION

Museum Studio

Continued build-up strategy to accelerate growth

• Strengthening the portfolio of high-potential cultural assets through the acquisition of Lord Cultural Resources, Institut Beau Cèdre, the launch of Skira Education Systems, and the ongoing acquisition of Chaplin's World

The Group chose to expense a significant portion of investments through P&L

to reduce future constraints 13

2025 performance preserved despite trade-tariff tensions, accelerated investments, and unfavorable currency movements

EBITDA impacted by :

• Client caution at Chargeurs PCC

  for approx. €6m, and,

  • Structuring operational investments for the transformation and

reorganization of Technical Textiles, as well as costs related to assets portfolio refocusing, for a total of approx. €5m

Cash flows sustained at a very solid level, thanks to strict working capital management, despite significant operational investments

Revenue stable at constant exchange rates, despite client caution at Chargeurs PCC amid tariff tensions and an unfavorable exchange rates movements

Continued strong momentum at Museum Studio, Personal Goods, and Novacel

Figures presented before classification of Novacel as a discontinued operation 14

2026 : a pivotal year of monetization and metamorphosis

2015-2025

2026

The sale of Novacel completes the Group's strategic transformation, executed with discipline and agility

• 10 years of strategic transformation, resulting in a portfolio of non-replicable assets with strong barriers to entry

• Thanks to visibility on the Novacel sale, investments required to achieve the deployment cycle were completed in 2025, supporting the Group's transformation

• Value crystallization through the disposal of Novacel at an appealing valuation, combined with a financial reinvestment

• Proven resilience across economic cycles

Compagnie Chargeurs Invest is now positioned to capture the return on investment from its profound metamorphosis

• A unique portfolio of assets and brands positioned at the heart of emotional intelligence

• A higher and less cyclical EBITDA growth profile

• Higher return on equity, driven by completed investments and lower capital-intensive businesses

• More predictable cash generation

• Enhanced redeployment capacity, supported by a very significantly reduced level of debt

Ambition 2030 : capitalizing on the strategic potential of the portfolio assets and brands, and on strong financial flexibility

2030 Outlook

An active portfolio rotation model, enabling Compagnie Chargeurs Invest to balance its hybrid role as investor or co-investor and that of an operator-developer

Net asset value

> €1bn

Clear ambition to significantly reduce the holding discount through an active

value-enhancement policy

2

Asset portfolio review

Jérôme Angin

Group Chief Financial Officer

Chaplin' s World

Culture & Education

Museum Studio project, Hong K ong History Museum

Culture & Education : 2025 achievements and strategy

Strategic and asset management analysis matrix

Profitability

Capability to

Strong acceleration in demand

• The momentum of physical and experiential cultural assets continues to strengthen worldwide

  A differentiated global positioning at the heart of the emotional intelligence economy

  Globality

  Organic growth

  generate end-impact

  Low capex intensitivy

• Museum Studio captures the most significant projects while consolidating proprietary initiatives to secure recurring revenues and strengthen repeat business

• The business is fully aligned with the transformation of the experience and emotional intelligence industries

  Attractiveness for a minority partner

  Addressable critical size within the industry

  Employment attractiveness

  Low volatility (including cash)

  Low regulation context

  2025

  Geographical acceleration in 2025

  • Completion of major projects in the Middle East and structured expansion in Asia, notably in Vietnam and India

    Strategic expansion into Education

  • Development of Skira Education Systems, a new strategic activity dedicated to education, training, and the valorization of educational, scientific, and cultural content

  • Development of a center of excellence for training dedicated to

    Museum Studio

    2024

    cultural management professions, through the acquisition of the Beau Cèdre Institute in Switzerland

    
    
    

    New international headquarters of Museum Studio in Paris to support its expansion and development

    Museum Studio moves to 9 rue Kepler in Paris, into a unique location bringing together all of its areas of expertise

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