FILA Group Half-Year Report at June 30, 2025

F.I.L.A. GROUP

HALF-YEAR FINANCIAL REPORT

AS AT AND FOR THE SIX MONTHS ENDED JUNE 30, 2025

F.I.L.A. Fabbrica Italiana Lapis ed Affini S.p.A. via XXV Aprile 5 Pero (MI)

I - General information 3

Corporate Bodies 3

Overview of the F.I.L.A. Group 4

Directors' Report 6

Key financial highlights 6

F.I.L.A. Group's Financial Highlights 13

Operating results excluding net non-recurring charges 13

Business seasonality 15

Statement of Financial Position 17

Financial overview 21

Key events in the period 26

Events after the reporting period 27

Outlook 27

Treasury shares 28

Related party transactions 28

Reconciliation between Parent and Group Equity 29

Condensed Interim Consolidated Financial Statements as at and for the six months ended June 30, 2025 31

Consolidated Financial Statements 31

Statement of Financial Position 31

Statement of Comprehensive Income 31

Statement of changes in Equity 33

Consolidated Statement of Cash Flows 34

Statement of financial position with indication of related party transactions pursuant to CONSOB Resolution No. 15519 of July 27, 2006 36

Statement of comprehensive income with indication of related party transactions pursuant to CONSOB Resolution No. 15519 of July 27, 2006 37

Notes to the condensed interim consolidated financial statements 38

Segment reporting 48

Business Segments - Statement of financial position 49

Business Segments - Income Statement 50

Business Segments - Other Information 51

Attachments 109

Attachment 1 - Related party transactions 109

Attachment 2 - List of companies included in the consolidation scope and other investments 111

Transactions relating to Atypical and/or Unusual Operations 112

Statement of the Executive Officer for Financial Reporting and the Corporate Bodies 113

Independent Auditors' Report pursuant to Article 14 of Legislative Decree No. 39 of January 27,

2010 114

DIRECTORS' REPORT

at June 30, 2025

Board of Directors

Chairperson (*) Giovanni Gorno Tempini Chief Executive Officer (**) Massimo Candela Executive Director (**) Luca Pelosin

Non-executive Director Annalisa Matilde Barbera

Non-executive Director (*) Gianna Luzzati

Non-executive Director (*) Carlo Paris

Non-executive Director (*) Donatella Sciuto

(*) Independent director in accordance with Article 148 of the Consolidated Finance Act and Article 3 of the Code of Conduct. (**) Executive Director

Control, Risks and Related Parties Committee

Gianna Luzzati Carlo Paris Donatella Sciuto

Annalisa Matilde Barbera

Remuneration Committee

Board of Statutory Auditors

Donatella Sciuto Gianna Luzzati

Annalisa Matilde Barbera

Chairperson Gianfranco Consorti

Standing Auditor Sonia Ferrero

Standing Auditor Pietro Michele Villa

Alternate Auditor Stefano Amoroso

Alternate Auditor Tina Marcella Amata

Independent Auditors Deloitte & Touche S.p.A.

The F.I.L.A. Group (hereafter also the "Group") operates in the creativity tools market, producing and marketing colouring, design, modelling, writing and painting objects, such as pencils, crayons, modelling clay, chalk, oil colours, acrylics, watercolours, paints and paper for the fine arts, school and leisure.

The F.I.L.A. Group at June 30, 2025 operates through 22 production facilities and 32 subsidiaries across the globe and employs approx. 3,000 people, becoming a pinnacle for creative solutions in many countries with brands such as GIOTTO, DAS, LYRA, Canson, Maimeri, Daler-Rowney Lukas, Ticonderoga, Pacon, Strathmore, Princeton and Arches.

Founded in Florence in 1920 by two noble Tuscan families, della Gherardesca and Marchesi Antinori,

F.I.L.A. S.p.A. (hereafter also the "Parent") has achieved strong international growth in the past 20 years, supported by a series of strategic acquisitions. Over the years, the Parent has acquired: (i) the Italian firm Adica Pongo in 1994, a leading producer of modelling clay for children; (ii) the Spanish firm Spanish Fila Hispania S.L. (formerly Papeleria Mediterranea S.L.) in 1997, the Group's former exclusive distributor in Spain; (iii) the French firm Omyacolor S.A. in 2000, a leading manufacturer of modelling putties and clays; (iv) the U.S. Dixon Ticonderoga Group in 2005, a leading producer and distributor of pencils in North America, with subsidiaries operating on the Canadian, Mexican, Chinese and European markets; (v) the German LYRA Group in 2008, which allowed the Group to enter the German, Scandinavian and Eastern Asian markets; (vi) the business unit operated by Lapiceria Mexicana in 2010, one of the main local competitors in the budget coloured and graphite pencils market; and (vii) the business unit operated by Maimeri S.p.A. in 2014, a manufacturer and distributor of paints and accessories for arts and crafts. In addition to these operations, on the conclusion of an initiative which began with the acquisition of a significant influence in 2011, control of the Indian company DOMS Industries Pvt Ltd. was acquired in 2015 (viii). In 2016, the F.I.L.A. Group focused upon development through strategic Art&Craft sector acquisitions, seeking to become the leading market player. On February 3, 2016, F.I.L.A. S.p.A. acquired control of the Daler-Rowney Lukas Group, an illustrious brand producing and distributing materials and accessories on the arts and crafts market since 1783, with a direct presence in the United Kingdom, the Dominican Republic, Germany and the USA

(ix). In September 2016, the F.I.L.A. Group acquired the entire share capital of St. Cuthberts Holding Limited and the operating company St. Cuthberts Mill Limited, a highly-renowned English paper mill, founded in 1907, located in the south-west of England and involved in the production of high quality artist's papers (x). In October 2016, F.I.L.A. S.p.A. acquired the Canson Group, founded in 1557 by the Montgolfier family, with headquarters in Annonay in France, production facilities in France and conversion and distribution centres in Italy, France, China, Australia and Brazil. Canson products are

available in over 120 countries and the brand is the most respected globally involved in the production and distribution of high added value paper for the fine arts, design, leisure and schools, but also for artists' editions and technical and digital drawing materials (xi).

In June 2018, F.I.L.A. S.p.A., through its US subsidiary Dixon Ticonderoga Co. (U.S.A.), consolidated its role as a leading player on the US market with the acquisition of the US Group Pacon, which through brands such as Pacon, Riverside, Strathmore and Princeton, is a leader in the US schools and arts and crafts sector. Dixon Ticonderoga Co. (U.S.A.) was subsequently merged into Pacon Corporation (U.S.A.), which later changed its name to Dixon Ticonderoga Co. (U.S.A.) (xii).

On March 2, 2020, F.I.L.A.- Arches S.A.S., a French company wholly-owned by F.I.L.A. S.p.A., completed the purchase from the Ahlstrom-Munksjö Group of the fine art business unit specialised in fine art operating through the ARCHES® brand (xiii).

On February 8, 2022, the UK subsidiary Daler Rowney Ltd. acquired 100% of the UK company Creative Art Products Limited, located in Manchester (UK), which specialises in the schools segment and produces and distributes a wide range of art materials for children, both under the Scola brand and private label (xiv) brands.

On December 20, 2023, the listing of the subsidiary DOMS Industries Limited on the National Stock Exchange of India was completed. As part of the listing, however, F.I.L.A. S.p.A. remained the largest single shareholder of the company post-listing as it held 30.6% of the share capital. On December 19, 2024, following the completion of the share placement of the Indian associate company DOMS Industries Limited, F.I.L.A. S.p.A. reduced its shareholding to 26.01% of the share capital, while still remaining the largest single shareholder of the Indian company (xv).

The F.I.L.A. Group's H1 2025 key financial highlights are reported below.

1. The Gross Operating Profit corresponds to the "Operating Profit" before "Amortisation and Depreciation", "Net Impairment Gains (Losses) on Trade receivables and Other Assets" and "Other Net Impairment Gains (Losses)" and derives directly from the statement of comprehensive income;

2. Net financial structure indicator calculated as the aggregate of the current and non-current financial debt, net of cash and cash equivalents and current

   financial assets.

   Net financial debt as defined by CONSOB Notice DEM/6064293 of July 28, 2006 and CONSOB Attention Call No. 5/21 of April 29, 2021, excludes non-current

   financial assets.

3. "Net investments" corresponds to the sum of the following Statement of Cash Flow captions: "Total (Investments)/Divestments in Intangible Assets" and "Total Investments/Divestments in Property, Plant and Machinery".

2025 Adjustments:

4.0 million, mainly concerning restructuring costs following the closure of operations in China, which include plant disposal expenses, the transfer of equipment, personnel settlements and other costs related to the discontinuation of production, the portion pertaining to the period of the "2022-2026 and 2025-2029 Performance Shares" medium/long-term incentive plan for Euro 0.8 million, extraordinary project costs and consultancy for Euro 0.5 million and non-recurring income of Euro

0.3 million;

2024 Adjustments:

In order to permit a more accurate assessment of the F.I.L.A. Group's financial performance and financial position, some alternative performance measures are presented alongside the conventional financial measures to the IFRS. Such alternative performance measures are not to be considered replacements for the IFRS-compliant measures. These measures are also tools used by the Directors to identify operating trends and for decision-making upon investments, the allocation of resources and other operative decisions. Alternative performance measures are not covered by IFRS and are therefore not comparable with similar performance and disclosure measures used in the financial statements of other entities.

These Alternative Performance Measures exclusively concern historical accounting data of the Group and are calculated in accordance with the Guidelines on Alternative Performance Measurement issued by ESMA on October 5, 2015 (2015/1415), as per CONSOB communication No. 92543 of December 3, 2015, the "ESMA Guidelines on Alternative Performance Measures (APMs)" issued on April 17, 2020 by the ESMA, and on October 28, 2022 in section 3 of the "European common enforcement priorities for 2022 annual financial reports".

The alternative performance measures used are illustrated below:

(iii) the Financial Management Result. The F.I.L.A. Group uses this measure as an internal management target and in external presentations (for analysts and investors), as it is useful in measuring the overall operating performance of the F.I.L.A. Group.

The table below presents a reconciliation of the Profit for the period with the Gross Operating Profit or EBITDA:

(iii) Non-recurring IFRS 16 charges.

Reference should be made to the reconciliation of the two above-stated Alternative Performance Measures:

The following is a reconciliation between Gross Operating Profit or EBITDA and Operating Profit or EBIT:

The following is a reconciliation between Operating Profit or EBIT and Operating Profit or EBIT excluding net non-recurring charges:

The Group defines the "Profit attributable to the owners of the parent excluding net non-recurring charges" as the Profit attributable to the shareholders of the parent excluding Net non-recurring charges on the Profit for the period attributable to the owners of the parent.

The reconciliation between the Profit attributable to the owners of the parent and the Profit attributable to the owners of the parent excluding net non-recurring charges is presented below:

The non-current financial assets of the F.I.L.A. Group at June 30, 2025 and at December 31, 2024 respectively totalled Euro 977 thousand and Euro 1,032 thousand.

For further details, reference should be made to the "Financial overview" section.

The Basic Earnings/(Loss) per share excluding net non-recurring charges is calculated by dividing the Profit attributable to the owners of the parent, excluding net non-recurring charges, by the average weighted number of outstanding ordinary shares during the period, excluding any treasury shares in portfolio.

The Diluted Earnings/(Loss) per share excluding net non-recurring charges is calculated by dividing the Profit attributable to the owners of the parent, excluding net non-recurring charges by the average weighted number of outstanding ordinary shares during the period and those potentially arising from the conversion of all potential ordinary shares with dilutive effect.

The F.I.L.A. Group's H1 Key Financial figures are reported below.

‌Operating results excluding net non-recurring charges

The operating results excluding net non-recurring charges of the F.I.L.A. Group for H1 2025 present a decrease in the Gross Operating Profit excluding net non-recurring charges of 7.7% on the same period of 2024:

The principal changes compared to H1 2024 are illustrated below.

"Revenue" of Euro 314,467 thousand decreased on H1 2024 by Euro 18,816 thousand (-5.6%). Net of exchange losses of Euro 8,972 thousand (mainly concerning the weakening of the Mexican Peso and the US Dollar), the organic contraction was Euro 9,845 thousand (-3.0%).

At geographical area level, this organic contraction concerned North America for Euro 6,484 thousand (-4.0% on the preceding period), Europe for Euro 4,199 thousand (-3.6% on the preceding period) and Asia for Euro 1,083 thousand (-16.5% on the preceding period), offset by organic growth in Central and South America for Euro 1,869 thousand (+4.3% on the preceding period) and in the Rest of the World for Euro 52 thousand (+3.0% on the preceding period).

"Income" of Euro 5,220 thousand increased by Euro 1,076 thousand, mainly due to higher exchange

gains on commercial transactions.

"Operating costs" in H1 2025 of Euro 254,333 thousand decreased Euro 12,265 thousand on the same period of 2024. This decrease mainly relates to the lower variable purchasing and commercial costs, as a reflection of sales dynamics.

"Gross Operating Profit" amounted to Euro 65,354 thousand, down Euro 5,476 thousand on the same period of 2024 (-7.7%). At like-for-like exchange rates, the decrease was 4.8% on the same period of the previous year.

"Amortisation, depreciation and impairment losses" increased Euro 945 thousand, mainly due to higher bad debt provisions of the US subsidiary Dixon Ticonderoga Company.

"Net financial expense" increased Euro 5,542 thousand, substantially due to unrealised exchange losses on financial transactions, which mainly impacted the parent F.I.L.A. S.p.A., offset by the lower net financial expense, mainly relating to the US subsidiary Dixon Ticonderoga Company, the parent

F.I.L.A. S.p.A. and the Mexican subsidiary Grupo F.I.L.A.- Dixon, S.A. de C.V..

Group "Taxes" amounted to Euro 7,915 thousand, decreasing on the comparative period as a result of

the positive impact of deferred taxes.

Net of the profit attributable to non-controlling interests, the F.I.L.A. Group profit excluding net non-recurring charges in H1 2025 was Euro 22,550 thousand, compared to Euro 32,014 thousand in the same period of the previous year.

‌Business seasonality

The Group's operations are affected by the business's seasonal nature, as reflected in the consolidated

results.

The F.I.L.A. Group primarily operates in the school and office strategic business segment and the fine arts Strategic business segment. Historically, the school and office Strategic business segment has reported greater sales in the second and third quarters of the year than in the first and fourth quarters of the year. This is mainly due to the fact that in the Group's main markets (i.e., North America, Mexico, India and Europe), schools reopen in the period from June to September. By contrast, the fine arts strategic business segment reports greater sales to some extent in the first, but especially in the fourth quarter, than in the second and third quarters, partially offsetting the seasonal nature of the school and office strategic business segment.

The quarterly breakdown of profit or loss shows the concentration of sales in the second and third quarters in conjunction with the "school campaign". Specifically, significant sales are made through the traditional "school suppliers" channel in June and through the "retailers" channel in August.

Seasonality is more significant when it is viewed in relation to working capital. In fact, in the school and office Strategic business segment the Group has historically invested large quantities of financial resources to meet the enormous demand for products from July to September, while only receiving payments from November.

The key figures for H1 2025 and 2024 are reported below.

‌Statement of Financial Position

The F.I.L.A. Group's financial highlights at June 30, 2025 are reported below:

The F.I.L.A. Group's "Net Invested Capital" of Euro 861,805 thousand at June 30, 2025 was composed of "Non-current Assets" of Euro 591,329 thousand (Euro 624,947 thousand at December 31, 2024), "Net Working Capital" of Euro 317,718 thousand (increasing Euro 76,063 thousand on December 31, 2024) and "Other Non-current Assets/Liabilities" of Euro 20,824 thousand (slightly increasing by Euro 358 thousand on December 31, 2024), net of "Provisions" of Euro 68,066 thousand (Euro 73,187

thousand at December 31, 2024).

"Intangible Assets" decreased on December 31, 2024 by Euro 30,378 thousand, mainly due to negative exchange differences in the period of Euro 25,548 thousand and amortisation of Euro 6,168 thousand. The decrease was offset by net investments of Euro 1,338 thousand, principally by the parent F.I.L.A.

S.p.A. (Euro 1,301 thousand) for implementation of the SAP system at a number of Group companies.

"Property, Plant and Machinery" decreased on December 31, 2024 by Euro 3,987 thousand, mainly as a result of the reduction of "Property, Plant and Machinery Right-of-Use" of Euro 4,461 thousand, offset by the increase in "Property, Plant and Machinery" of Euro 474 thousand.

The decrease in "Property, Plant and Machinery Right-of-Use" was mainly due to depreciation in the period of Euro 4,815 thousand and negative currency differences of Euro 2,728 thousand. This reduction is offset by net investments in the period of Euro 3,071 thousand, mainly by the Mexican subsidiary Grupo F.I.L.A.-Dixon, S.A. de C.V. for Euro 2,009 thousand.

The movement in "Property, Plant and Machinery" is mainly due to the investments in the period amounting to Euro 7,858 thousand by Canson SAS (France) for Euro 3,153 thousand, mainly for the Biomass project, by the U.S. subsidiary Dixon Ticonderoga Company for Euro 1,957 thousand and by the Mexican subsidiary Grupo F.I.L.A.-Dixon, S.A. de C.V. for Euro 1,267 thousand. The overall movement is offset by depreciation in the period of Euro 5,323 thousand and negative currency differences of Euro 1,769 thousand.

"Financial Assets" increased on December 31, 2024 by Euro 747 thousand, principally regarding the adjustment of the Carrying Amount of the investment of F.I.L.A. S.p.A. in the Indian associate DOMS Industries Limited of Euro 1,302 thousand (relating to the latest approved results of the Indian company for Q1 2025), in line with the share of equity held in the associate of 26.1%, and a decrease of Euro 500 thousand due to the progressive amortisation of the gains allocated following the "Purchase Price Allocation" process.

The increase in "Net Working Capital" of Euro 76,063 thousand relates to the following:

"Trade Payables" for Euro 6,310 thousand, recognised by the U.S. subsidiary Dixon Ticonderoga

Company for Euro 4,772 thousand and the Mexican subsidiary Grupo F.I.L.A.-Dixon, S.A. de C.V. for Euro 3,424 thousand. Positive currency effects of Euro 5,107 thousand are in addition reported.

S.A. de C.V. (Mexico) for Euro 2,482 thousand.

The decrease in "Provisions" on December 31, 2024 of Euro 5,121 thousand principally concerns:

effects of Euro 4,434 thousand;

utilisation of the provision by the UK subsidiary Daler Rowney Ltd for Euro 381 thousand.

The "Equity" attributable to owners of the Parent", amounting to Euro 573,054 thousand, decreased on December 31, 2024 by Euro 59,750 thousand. Net of profit for the period of Euro 10,357 thousand (Euro 1,355 thousand of which attributable to non-controlling interests), the remaining difference is mainly due the dividends approved for a total of Euro 41,416 thousand, of which to the F.I.L.A. S.p.A. shareholders for Euro 40,636 thousand and to the non-controlling interests of the subsidiaries for Euro 779 thousand, the reduction in the translation reserve for Euro 29,126 thousand, the decrease in the fair value hedge of hedging derivatives (IRS) for Euro 739 thousand, and the allocations to the Shares-Based Premium Reserve for Euro 160 thousand in relation to the 2022-2026 and 2025-2029 medium/long-term incentive plan. These changes are offset by the increase in the Negative Reserve for Treasury Shares in Portfolio for Euro 847 thousand and of the Share Premium Reserve for Euro 81 thousand, following the free allocation of shares of the parent F.I.L.A. S.p.A. to all beneficiaries of the "2022-2026 Performance Shares" Plan, regarding the first tranche (LTI 2022-2024), the movement in the "Actuarial Gains/Losses" reserve of Euro 310 thousand and the impact of hyper-inflation on the hyper-inflated economies of Euro 66 thousand.

The F.I.L.A. Group "Net Financial Debt" at June 30, 2025 was Euro 288,752 thousand, increasing Euro

107,672 thousand on December 31, 2024.

For greater details, reference should be made to the Net financial debt and cash flows section.

‌Financial overview

The Group's Net Financial Debt at June 30, 2025 and Cash Flows for the period then ended are summarised in the following table to complete the discussion about its financial position and financial performance.

For the definition of the Net Financial Debt, reference should be made to Consob's call to attention No.

5/21 of April 29, 2021, which cites the new ESMA guidelines in this regard.

The F.I.L.A. Group Net Financial Debt at June 30, 2025 was Euro 288,752 thousand.

The Net Financial Debt - F.I.L.A. Group comprises the Net Financial Debt excluding the IFRS 16 and MTM effects for a debt of Euro 231,974 thousand (debt of Euro 119,521 thousand at December 31, 2024), the effect of IFRS16 for Euro 54,732 thousand and the Mark to Market Hedging for a negative Euro 2,046 thousand.

The reconciliation between the Net Financial Debt - F.I.L.A. Group and the Statement of Financial Position is reported below:

Compared to December 31, 2024 (Euro 181,079 thousand), the Net Financial Debt increased Euro 107,672 thousand at June 30, 2025, as outlined in the Statement of Cash Flows:

June 30, 2025 June 30, 2024

NFD change due to change in Consolidation Scope (Deconsolidation of Fila Stationary O.O.O.)

(133) -

Change in Net Financial Debt - F.I.L.A. Group (107,672) (65,635)

Net Cash outflow in H1 2025 from "Operating Activities" of Euro 47,336 thousand (outflow of

operating cash in H1 2024 of Euro 28,595 thousand) concerns:

"Investing activities" absorbed net cash flows of Euro 8,022 thousand (absorbing Euro 3,450 thousand in H1 2024), mainly due to the use of cash for Euro 9,143 thousand (Euro 3,855 thousand in H1 2024) for net property, plant and equipment and intangible asset investment, particularly regarding the parent

F.I.L.A. S.p.A., the French subsidiary Canson SAS, the U.S. subsidiary Dixon Ticonderoga Company and the Mexican subsidiary Grupo F.I.L.A.-Dixon, S.A. de C.V..

"Financing activities" absorbed net cash flows of Euro 50,604 thousand (Euro 49,250 thousand absorbed in H1 2024), concerning the dividends approved for a total of Euro 41,416 thousand (to the shareholders of F.I.L.A. S.p.A for Euro 40,636 thousand and to the non-controlling interest shareholders of the subsidiaries for Euro 779 thousand), the interest paid on loans and credit lines granted to the Group companies of Euro 7,560 thousand, mainly the parent F.I.L.A. S.p.A., Dixon Ticonderoga Company (U.S.A.) and Grupo F.I.L.A. - Dixon, S.A. de C.V. (Mexico), in addition to interest expense due to the application of IFRS 16 of Euro 1,627 thousand.

"Free Cash Flow to Equity" was a negative Euro 70,052 thousand (negative Euro 40,273 thousand at June 30, 2024), and is calculated as the difference between the Total Net Cash Flow for a negative Euro 111,468 thousand (negative Euro 76,433 thousand at June 30, 2024), and the changes to Equity of Euro 41,416 thousand (Euro 36,160 thousand at June 30, 2024).

Excluding the currency effect regarding the translation of the Net Financial Debt in currencies other than the Euro (negative for Euro 223 thousand), the movement in the Net Financial Debt due to the application of IFRS 16 for a positive Euro 5,566 thousand, the Mark to Market Hedging adjustment for a negative Euro 785 thousand, the "Amortised cost" movement for a negative Euro 630 thousand, as well as the overall negative impact generated by the change in the consolidation scope of Euro 133

thousand (relating to the deconsolidation of the Russian subsidiary Fila Stationary O.O.O.), the Net Financial Debt of the Group therefore increased Euro 107,672 thousand (increase of Euro 65,635 thousand at March 30, 2024).

The operating and financial impacts of the conflict between Russia and Ukraine on the F.I.L.A. Group are not considered significant, also in view of the fact that since January 10, 2025 the Russian subsidiary Fila Stationary O.O.O., as a result of the voluntary bankruptcy petition and the appointment of a trustee, has been in administration.

Consequently, the company is not subject to line-by-line consolidation due to the loss of control, as established by IFRS10.

The bankruptcy case hearing was held on June 17, 2025, and bankruptcy proceedings were initiated. There are no F.I.L.A. Group companies in Ukraine at June 30, 2025.

A military conflict involving Israel has been ongoing since October 7, 2023.

The operating and financial impacts of the conflict on the Israeli commercial subsidiary Fila Art and Craft Ltd are not considered significant, also in view of the fact that the revenue of the subsidiary accounts for approximately 0.5% of the Group's total.

The F.I.L.A. Group does not have suppliers or production plant in the area.

The Israeli subsidiary has a net commercial exposure to third parties at June 30, 2025 of Euro 1,019 thousand. Group management continues to monitor the recoverability of the net exposure to third parties of the subsidiary, although currently no recoverability risks exist.

F.I.L.A. Group which focuses resources in business areas deemed strategic and targets new development opportunities. The operations at the Chinese plant will be transferred to other F.I.L.A. Group production plant, in line with the reorganisation plan.

There were no events after the reporting period other than those presented in the section "Key Events in the period".

It is confirmed that the entire FY 2025 shall be impacted by a complex macroeconomic environment featuring reduced visibility and significant uncertainty due to the continued geopolitical tensions, with particular regard to the conflicts in Ukraine and the Gaza strip, and the U.S. Government's trade policies which have resulted in a wait-and-see approach within the distribution chain and a slowdown in consumption.

The coming months will see the F.I.L.A. Group continue with its organisational streamlining to support cost-cutting, alongside operational and process optimisation activities.

Looking ahead, the new trade policies in North America may present a positive factor, thanks to the significant geographical diversification of F.I.L.A.'s production footprint and less competition on the

U.S. private label market, whose products are mainly made in China.

Over the medium-term, the company is confident that sales and margins shall recover in view of the easing of the macroeconomic instability with the clearer setting of tariff policies.

On June 30, 2025, the Group held 244,641 treasury shares, for a total value of Euro 2,118 thousand

(equal to the "Negative reserve for treasury shares in portfolio" deducted from consolidated equity). During the period, the reserve altered due to the free allocation of shares of the parent F.I.L.A. S.p.A. to each beneficiary of the "2022-2026 Performance Shares" plan regarding the first tranche (LTI 2022-2024), on the basis of the achievement of the performance objectives on conclusion of the three-year vesting period. As a result of the transaction, 86,125 treasury shares have been allocated for Euro 847 thousand.

It should be noted that the treasury shares currently held are largely allocated to serve the 2022-2026 Performance Shares Plan and the 2025-2029 Performance Shares Plan, which, in the event of reaching the related targets, stipulates the allocation of a minimum number of shares (equal to approximately 165,000/170,000 shares for each of the three three-year cycles).

For the procedures adopted in relation to transactions with related parties, also in accordance with Article 2391-bis of the Civil Code, reference should be made to the policy adopted by the parent on May 14, 2021, as per the Regulation approved by the Stock Exchange Regulator ("CONSOB") with motion No. 17221 of March 12, 2010 and subsequent amendments, published on the parent's website https://www.filagroup.it in the "Governance" section.

Reference should be made to the Related Party Transactions of the Notes to the Condensed Interim Consolidated Financial Statements of the F.I.L.A. Group.