EuroGroup Laminations S p A : THE BOARD OF DIRECTORS APPROVES THE DRAFT ANNUAL FINANCIAL STATEMENTS AND THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2025

PRESS RELEASE

THE BOARD OF DIRECTORS APPROVES THE DRAFT ANNUAL FINANCIAL STATEMENTS AND THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2025

In a dynamic and changing market environment, the Group has demonstrated the resilience of its operating model, thanks to diversification by segments and geographical areas

In the E-Mobility solutions segment, the Group maintains leadership in the target markets in EMEA and North America

The Industrial & Infrastructure solutions segment continues to play a stabilizing role, thanks to the flexibility of the operational platforms that can be used for various industrial applications

Strong improvement in Asia (+100.8% YoY), driven by the contribution of the Indian subsidiary and the growth of the E-mobility solutions segment in China

Net financial debt down from end December 2024

• Group revenue for 2025 is expected to be €831.0 million, essentially stable at constant exchange rates (-1.8% year-over-year; -4.4% compared to €869.4 million in 2024 at current exchange rate)

  • Revenues from E-mobility solutions totaled €514.3 million, down 6.1% at constant exchange rates (-8.5% compared to €562.2 million in 2024 at current exchange rates), with the decline primarily attributable to lower sales volumes in the USA and, to a lesser extent, in Europe due to the adverse macroeconomic environment in the second half of 2025. Improvement in Asia and Mexico

  • Revenues from Industrial & Infrastructure solutions totaled €316.7 million, up 5.9% at constant exchange rates (+3.1% compared to €307.2 million in 2024 at current exchange rates), thanks to growth in Asia, driven by the Indian subsidiary

• Group Adjusted EBITDA for 2025 of €88.7 million (€116.0 million in 2024), reflecting the negative impact of lower volumes on operating leverage. Adjusted EBITDA margin of 10.7% (13.3% in 2024)

• EBIT of €22.6 million (€65.7 million in 2024), despite higher depreciation and amortization expenses of over €13 million compared to 2024, in line with the execution of the investment plan supporting the E-mobility solutions segment

• Net loss of €-0.1 million (net profit of €36.5 million in 2024)

• Net financial position (post-IFRS 16) of €219.4 million as of December 31, 2025 (€225.5 million as of December 31, 2024), supported by strong operating cash flow and a reduction in working capital

• Order backlog1 and Pipeline2 for E-mobility solutions amounting to €2.7 billion and €2.1 billion,

  respectively

• In 2026, the focus will be on profit margins and cash generation

• The Shareholders' Meeting has been convened for May 4, 2026 (single notice)

Baranzate (MI), March 23, 2026 - The Board of Directors of EuroGroup Laminations S.p.A. ("EuroGroup Laminations", "EGLA" or the "Company") - a global leader in the design, manufacture, and distribution of laminations and cores for electric motors, generators, and transformers-met today under the chairmanship of Cav. Sergio Iori and reviewed and approved the draft statutory financial statements and consolidated financial statements as of December 31, 2025.

Marco Arduini, CEO of EGLA, commented:: "2025 was a year of further transformation in the E-mobility solutions marked by changes in the regulatory framework and a gradual realignment of electrification strategies by manufacturers, who are adapting their technology mix to new market conditions. In this context, the Group demonstrated the resilience of its operating model, posting better-than-expected results thanks to the strength of its customer portfolio, geographic diversification, and the contribution of the Industrial & Infrastructure solutions business unit, which supported the year's overall performance, including through the development of its Indian subsidiary.

During the fiscal year, we continued to invest in the Group's industrial and technological development, in line with our long-term strategy aimed at strengthening our leadership in target markets and supporting the evolution of electrification. In this context, the Group continues to benefit from the flexibility of its operating platforms, which can adapt to various applications and technologies.

At the same time, we have launched a major program to improve operational performance aimed at increasing the efficiency of our industrial processes, optimizing our production footprint, and further strengthening the Group's resilience in a macroeconomic environment that remains uncertain. Looking ahead to 2026, which is shaping up to be a transitional phase of the cycle, our focus will be on cash generation. These actions, together with the operational efficiency initiatives already underway, will enable us to navigate the current market phase, consolidate current margin levels, and position ourselves to capitalize on growth opportunities linked to the evolution of electrification in the medium to long term".

KEY CONSOLIDATED FINANCIAL RESULTS AS OF DECEMBER 31, 2025

Revenue in 2025 amounted to €831.0 million, down from €869.4 million in 2024. At constant exchange rates, revenue would have been €853.4 million, a decrease of 1.8%. The result was driven by growth in the Industrial &

‌1 Projected aggregate revenue from orders awarded by customers starting in February 2026 for the following 70 months

‌2 This refers to quotes issued in connection with potential new orders.

Infrastructure solutions segment, which partially offset the decline in the E-mobility solutions segment. Consolidated revenue by operating segment:

The E-mobility solutions segment reported revenues of €514.3 million in 2025, down 8.5% from €562.2 million in 2024, while on a constant-currency basis, revenues stood at €528.0 million, down 6.1%. The decrease is primarily attributable to lower sales volumes in the Americas and, to a lesser extent, in Europe due to the adverse macroeconomic environment in the second half of 2025, partially offset by higher sales volumes to Asian customers. In 2025, the Group also confirmed its leadership in its target markets in the EMEA region and North America.

Throughout 2025, the Chinese subsidiaries posted solid growth, driven by the launch of new projects and the

strengthening of the Group's position in a continuously expanding market.

The Industrial & Infrastructure solutions segment reported revenues of €316.7 million in 2025, an increase of 3.1% compared to €307.2 million in 2024; at constant exchange rates, revenues would have amounted to

€325.4 million, representing a 5.9% increase. This growth is primarily attributable to the consolidation of Kumar Precision Stampings Private Limited, which also enabled the Group to enter the transformer market and, with a contribution of €48.2 million, more than offset the slowdown in the EMEA and North America regions.

Consolidated revenue by geographic region3:

Revenues in the EMEA region in 2025 amounted to €431.2 million (€472.8 million in 2024), down 8.8%, primarily due to lower selling prices, in line with the decline in steel prices, which more than offset the increase in volumes (+4.3%). During the year, there was lower demand in the key markets in Germany and an increase in other countries, primarily in the United Kingdom.

Revenues in North America in 2025 amounted to €284.0 million, down from €338.9 million in 2024 (-16.2%). This trend is primarily attributable to lower steel prices, a slight decline in volumes, an unfavorable Euro/USD exchange rate, as well as uncertainties stemming from the global macroeconomic environment and the introduction of tariffs. Specifically, revenues generated in Mexico amounted to €72.0 million (€40.7 million in 2024), up 76.9%. Of this amount, €64.9 million is attributable to the E-mobility solutions segment, while €7.1

‌3 Revenue is allocated geographically based on the location of the end customer, whereas until fiscal year 2024 it was based on the company generating the revenue (place of production). In this table, the figures for 2024 have been restated using the new method.

million is attributable to the Industrial & Infrastructure solutions segment. Revenue in the United States

totaled €211.0 million (€298.0 million in 2024).

Revenue in the Asia region reached €115.9 million, representing a 100.8% increase compared to 2024 (€57.7 million), with growth accelerating further in the fourth quarter of 2025. This increase is attributable to the consolidation and the start of production of major new projects in the E-mobility solutions segment by the Group's Chinese subsidiaries, as well as to the entry into the Industrial & Infrastructure solutions segment of Kumar Precision Stampings Private Limited, which was acquired in November 2024 and also enabled the Group to enter the transformer market.

As of December 31, 2025, Adjusted EBITDA, which excludes non-recurring costs, amounted to €88.7 million, down from €116.0 million in fiscal year 2024.

Adjusted EBITDA for the E-mobility solutions segment in 2025 stood at €57.6 million, compared to €79.8 million in 2024 (-27.9%), with an Adjusted EBITDA Margin of 11.2%, down from 14.2% in 2024, due to higher start-of-production and ramp-up costs incurred during 2025 and the negative impact of lower volumes in EMEA and North America on operating leverage.

Adjusted EBITDA for the Industrial & Infrastructure solutions segment in 2025 stood at €31.2 million compared to €36.2 million in 2024 (-13.8%), with an Adjusted EBITDA Margin of 9.8%, compared to 11.8% in 2024.

In 2025, reported EBITDA amounted to €80.6 million, compared with reported EBITDA of €110.3 million in the previous year. The decrease is primarily attributable to: (i) the impact on operating margins resulting from the slight decline in revenue from Group companies in EMEA and North America, which led to a higher proportion of fixed costs; (ii) the New Market Tax Credit transaction completed in the first quarter of 2024 in Eurotranciatura USA, which resulted in a positive impact of €2,666 thousand; the benefit in fiscal year 2025 from the new New Market Tax Credit transaction, on the other hand, amounted to €802 thousand; (iii) unfavorable Euro/USD, Euro/CNY, and Euro/INR exchange rate effects; (iv) the indirect effect of tariff policies on North American sales, affecting both Business Units.

EBIT in 2025 amounted to €22.6 million compared to €65.7 million recorded in 2024. The difference reflects the increase in depreciation, amortization, and impairment charges (€58.0 million in 2025 compared to €44.6 million in 2024) due to the Capex plan supporting the growth of the E-mobility solutions segment, which accounts for approximately 80% of total Capex in 2025.

Net financial income and expenses amounted to a negative €22.0 million (negative €25.0 million in 2024). Net income for 2025 was negative at €-0.1 million (€36.5 million in 2024), due to the changes described above.

Order backlog and E-mobility solutions pipeline: these stood at an estimated €2.7 billion and approximately

€2.1 billion in the pipeline as of February 28, 2026, down from €4.2 billion and €2.5 billion at the end of October

2025.

Balance Sheet

As of December 31, 2025, CAPEX amounted to €68.9 million, a decrease of 20.3% compared to the same period of the previous year (€86.5 million). The reduction in capital expenditure is attributable to the completion of projects initiated in previous years that came online during the 2025 fiscal year.

As of December 31, 2025, net working capital stood at €207.4 million (€232.7 million as of December 31, 2024), a trend primarily attributable to the decrease in inventories resulting from improved production efficiency, and to the decrease in trade receivables due to careful management of credit collection, partially offset by the reduction in trade payables, particularly in North America, as a result of the contraction in the relevant market.

Net financial debt (post-IFRS 16) as of December 31, 2025, amounted to €219.4 million, essentially unchanged from €225.5 million as of December 31, 2024, thanks to significant cash generation of €124.2 million from operating cash flow and a decrease in net working capital. The debt-to-equity ratio stood at 2.5x compared to 1.9x as of December 31, 2024, reflecting the investment cycle carried out during the period, amounting to

€68.9 million. Net of the effects of the acquisition of minority interests held by the partner Marubeni-Itochu Steel Inc. ("MISI") in the subsidiaries Euro Misi High-tech Jiaxing Co. Ltd and Euro Misi Laminations Jiaxing Co. Ltd and from minority shareholders in the subsidiary Euroslot Tools S.r.l., as well as the payment of dividends,

net financial debt would amount to €198.0 million.

SIGNIFICANT EVENTS DURING THE 2025 FISCAL YEAR

On March 10, 2025, the subsidiary Euro Group Asia Limited ("EGLA Asia") entered into an agreement to acquire the minority stakes held by its partner Marubeni-Itochu Steel Inc. ("MISI") in the subsidiaries Euro Misi High-tech Jiaxing Co. Ltd. and Euro Misi Laminations Jiaxing Co. Ltd., both amounting to 31% of the share capital of those companies. The transaction, aimed at consolidating the two Chinese subsidiaries with a view to strategically strengthening the Group's position in the region, involved EGLA Asia's purchase from MISI of stakes corresponding to 30% of the capital of each of the two subsidiaries, for a total price of 100 million RMB (equivalent to approximately €12.7 million). The remaining 1% of the share capital of the two companies will be subject to reciprocal call and put options between Marubeni and EGLA Asia, exercisable at market value within four years following the closing of the acquisition transaction. The transaction was completed in the first three months of 2025. The total outlay was fully financed through the use of the Group's cash reserves and was not subject to any adjustments.

On July 28, 2025, EGLA issued a press release pursuant to Article 114 of Legislative Decree No. 58/1998 at the request and on behalf of E.M.S. Euro Management Services S.p.A. (EMS), EGLA's controlling shareholder, and Ferrum Investment (the Investor), a newly established investment vehicle owned by funds managed by FountainVest. The press release announced the establishment of a long-term partnership between EMS and FountainVest and, in particular, the execution of a share purchase agreement for the transfer from EMS to FountainVest of a 45.7% stake in the Company's share capital, which, excluding the 5,030,800 treasury shares held by the Company, corresponded to 47.1% of EGLA's voting share capital. EMS and the Investor have also announced the signing of a co-investment agreement that provides, subject to the completion of the transactions set forth in the share purchase agreement, for the indirect reinvestment by EMS of 50% of the proceeds from the sale into EGLA.

SIGNIFICANT EVENTS OCCURRING AFTER THE END OF FISCAL YEAR 2025

On February 16, 2026, EGLA issued a press release pursuant to Article 114 of Legislative Decree No. 58/1998 at the request and on behalf of E.M.S. Euro Management Services S.p.A. (EMS), EGLA's controlling shareholder, and Ferrum Investment (the Investor), a newly established investment vehicle owned by funds managed by FountainVest. The press release stated that EMS and FountainVest had acknowledged the unfeasibility of the condition precedent regarding the obtaining of authorization for foreign direct investment in India and the consequent impossibility of proceeding with the entire transaction described in the press release of July 28, 2025, thereby terminating all agreements signed on that date.

OUTLOOK

The year 2026 opens in a global macroeconomic environment conditioned by significant uncertainty factors. Geopolitical and international trade tensions remain, compounded by growing instability in the Middle East

-with ongoing conflicts fueling upward pressure on energy prices, disruptions to Red Sea maritime trade routes, and increased commodity volatility - with potentially significant impacts on inflation and corporate supply costs.

Despite this context, the energy transition continues globally in the face of a growing demand for energy system evolution (energy production, distribution, and consumption) oriented towards decarbonization and efficiency, albeit with a more moderate growth trajectory in the automotive sector.

The current financial year therefore presents itself as a transition year in which the Group, with its flexible production capacity, will focus, with regard to the E-mobility solutions segment, on new programs by OEMs in the hybrid sector, while in the Industrial & Infrastructure solutions segment, on growth in countries such as India, China and US, and in segments such as energy generation and distribution.

The Group will also continue to focus on executing the Performance Improvement programme aimed at strengthening operational resilience, through industrial efficiency initiatives, optimization of the industrial footprint and procurement, supply chain transformation and strengthening cross-functional governance.

Given the scenario described, the Company expects to be able to achieve in 2026:

• Expected Group Revenue in a range between €700-750 million

• Group adjusted margin EBITDA around 11.0%

N. Iscriz. Reg. delle Imprese di Milano | Monza Brianza Lodi 05235740965 | REA MI 1805877