Fiera Milano S p A : The Board of Directors approves the consolidated results as of 31 March 2025

FIERA MILANO: THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED RESULTS AS OF 31 MARCH 2025

• Revenues of Euro 63.7 million, compared to Euro 72.4 million in the first quarter of 2024 and higher than Euro 48.1 million recorded in the same period of 2023, the last comparable year in terms of calendar seasonality.
• EBITDA of Euro 12.1 million, compared to Euro 25.7 million in the first quarter of 2024 and higher than Euro 8.9 million recorded in the same period of 2023, the last comparable year in terms of calendar seasonality.
• Net profit from continuing operations of Euro (3.2) million, compared to Euro 7.6 million in the first quarter of 2024 and higher than Euro (8.1) million recorded in the same period of 2023, the last comparable year in terms of calendar seasonality.
• Net Financial Position before IFRS 161effects: net financial availability as of 31 March 2025 equal to Euro 111.5 million, compared to a net financial availability of Euro 77.8 million as of 31 December 2024 and of Euro 37.5 million as of 31 March 2023.

‌1 For the sake of completeness, it should be noted that the net financial position including IFRS 16 lease liability amounted to Euro 231.9 million as of 31 March 2025, compared to Euro 253.8 million as of 31 December 2024.

return of Gastech and the new summer preview of Artigiano in Fiera. We also recently hosted Tuttofood, Lamiera and Made in Steel, which were very successful. As for the congress business, we expect it to confirm last year's results, being able to leverage, among others, the agreements linked to the Milano-Cortina 2026 Olympic Games. At the same time, the development of services and the new entertainment business line continues; the latter will benefit from an extended season of open-air events, further confirming the Group's commitment to broadening and diversifying its offering. Our path of growth and diversification also continues: the acquisition of 51% of Expotrans enables us to strengthen our logistics offering and improve service integration, in line with the strategic directions of the 2024-2027 Strategic Plan. This approach, increasingly focused on efficiency and sustainability, is also reflected in the recent signing of two sustainability-linked loans, which demonstrate our tangible commitment to ESG and further underline our responsibility towards a more sustainable future. In light of these premises, we confidently confirm our full-year EBITDA in the range of Euro 110 to 120 million, as expected by the guidance".

In the first three months of 2025, Consolidated Revenues amounted to Euro 63.7 million, down Euro (8.7) million compared to the first quarter of 2024. During the period, 16 exhibitions were held (14 in Italy and 2 abroad, 8 owned and 8 hosted), along with 32 congress events (of which 5 with related exhibition area), for a total of 311,273 square metres occupied.

The change in Consolidated Revenues is mainly due to the different exhibition calendar, particularly the absence of the biennial exhibition Mostra Convegno Expocomfort, which is hosted in even years. This effect was partially offset by the solid performance of annual exhibitions and congress activities, as well as by the increased penetration of services provided.

Revenues from the Italian Exhibitions Business amounted to Euro 52.8 million in the first three months of the year, showing a decrease of Euro (11.9) million compared to the first quarter of 2024. This variation is primarily attributable to a less favorable exhibition calendar, as already highlighted in the analysis of Consolidated Revenues. This effect was partially offset by the overall solid performance of annual exhibitions and increased penetration of services provided.

In the first three months of the year, 14 exhibitions were held in Italy. In January, Fiera Milano organized the second edition of Milano Home, annual exhibition dedicated to the world of living and home décor, with over 600 brands that chose to exhibit at this edition, 34% of which from abroad. At the same time, Quick&More - Home Supplies Exhibition also took place, the event dedicated to the distribution of household articles, festivity decorations and gifts. Running concurrently was PTE - Promotion Trade Exhibition, an event dedicated to the world of advertising objects which presented an offer of 133 companies (30% foreign). The total number of professionals present in the district, during the three simultaneous events, exceeded 32,000 visitors, of which 8% were international, coming from over 50 countries.

The month of February saw the return of events relating to the fashion industry. Milano Unica recorded an absolute record of exhibitors (more than 700), and a total attendance of 6,500 visiting companies (+10% compared to 2024 figures). MIDO, the international eyewear fair, occupied 7 halls and featured nearly 1,200 exhibitors (of which 930 were foreign). The exhibition recorded over 42,000 attendees from 168 countries. While all exhibitions related to the

fashion accessories industry, Milano Fashion&Jewels (accessories, jewels and bijoux), MICAM Milano (footwear), Mipel (leather goods) and TheOneMilano, the international outerwear and haute-à-porter exhibition, welcomed a total of 40,449 professional visitors, of which 45% came from 127 foreign countries. Fiera Milano also hosted Lineapelle, the international exhibition of leather, accessories, components, fabrics, synthetics and models, which saw the attendance of 24,977 industry professionals - including 18,833 buyers, up 7% compared to the September 2024 edition - and over 1,100 exhibitors. Also during February, Fiera Milano organised BIT - Borsa Internazionale del Turismo. The event, held for the first time in the halls of the Fiera Milano exhibition centre (in Rho) featured nearly 1,000 exhibitors from 64 countries. Lastly, MyPlant & Garden and Filo: the first, an international horticultural event now in its ninth edition, reached new records, with over 700 exhibitors and close to 27,000 attendees. Filo, held at Allianz MiCo, is the only international exhibition dedicated to the excellence of yarns and fibres.

In March, Fiera Milano played a leading role in organizing (alongside its partner Next Group, creator of the event and Padel Trend, co-organizer), the first edition of Racquet Trend Expo, held for the first time at Fiera Milano's Rho exhibition center, from 7 to 9 March 2025, the first major international event dedicated to all racquet sports: tennis, padel, pickleball, beach tennis and table tennis. Fiera Milano thus strengthens its role in major live events and with more than 100 exhibitors, Racquet Trend Expo was the first b2c sports event organized by Fiera Milano.

That same month, Fiera Milano's Rho venue also hosted the 21st edition of Fa' la cosa giusta!, the exhibition dedicated to ethical consumption and sustainable lifestyles. Thanks also to Fiera Milano's support, the event welcomed 52,200 visitors and nearly 500 exhibitors.

On the international front, revenue from the Foreign Exhibitions Business reached Euro 2.2 million in the first quarter of 2025, up from Euro 0.9 million recorded in the same period of 2024. This increase is mainly attributable to the presence in the period of the second edition of Fruit Attraction São Paulo, held in March and organized by the Group's Brazilian subsidiary. The event, which took place in October in 2024, has already established itself as a key platform for the fruit and vegetable industry, featuring 400 Brazilian and international brands. In February, Fiera Milano also organized, through its South African subsidiary Fiera Milano Exhibitions Africa, the twelfth edition of Investec Cape Town Art Fair (ICTAF), the most important contemporary art fair in Africa, which hosted over 115 exhibitors and more than 500 artists.

The Congress business delivered very positive results, with 32 congress events held in the first three months of the year (of which 5 with related exhibition area). Revenue for this division in the first quarter of 2025 amounted to Euro

10.5 million, compared to Euro 9.3 million in the first quarter of 2024. The Euro 1.2 million increase is mainly attributable to higher revenue from recurring events that were also held in the same period of the previous year, such as the Zurich and Allianz Conventions, as well as to increased revenue from non-recurring events compared to the first quarter of 2024. Among the main events, noteworthy mentions include BIO-Europe Spring, aimed at connecting leading European innovation hubs with the global life sciences industry and Intergraf.

2025 is shaping up to be another year of growth for Fiera Milano, supported by a particularly rich exhibition calendar and a favorable seasonality effect typical of odd years, thanks to the presence of the Group's main biennial events such as Host, Sicurezza, Made and the return of Innovation Alliance with the multi-annual exhibition Ipack Ima. This positive momentum is further reinforced by the expansion of the organized event portfolio with new launches - including Net Zero Milan and Host Arabia (Saudi Arabia) - as well as the return to Milan of major international travelling exhibitions such as Gastech, previously hosted in 2022, and the debut ofArtigiano in Fiera - Summer Preview among the hosted events.

The congress sector will confirm the strong results achieved in 2024, being able to leverage, among others, the hosting contracts of the Olympic media and broadcasting center signed with Fondazione Milano Cortina. At the same time, the Group will continue to develop its services and new entertainment business line, which will benefit in particular from an extended open-air event season scheduled from May to September, confirming Fiera Milano's commitment to diversifying and expanding its offering.

Further strengthening these prospects is the recent acquisition of 51% of Expotrans S.p.A., a leading company in logistics for exhibitions, conferences and events. The transaction, fully aligned with the 2024-2027 Strategic Plan,

‌2For the sake of completeness, it should be noted that the net financial position including IFRS 16 lease liability amounted to Euro 231.9 million as of 31 March 2025, compared to Euro 253.8 million as of 31 December 2024.

enables the internalization of logistics management, optimization of goods handling flows within the Rho exhibition center and expansion of the services offered to exhibitors and organizers, strengthening Fiera Milano's positioning as a supplier of integrated solutions.

In light of these developments, despite a still uncertain macroeconomic context, the Group confidently confirms its previously communicated 2025 guidance, which forecasts Revenues between 320 and 340 million euros, an EBITDA between 110 and 120 million euros and an estimated net financial availability between 100 and 110 million euros.

In January, Fiera Milano and Fondazione Milano Cortina 2026 signed a partnership agreement to launch a strategic collaboration that establishes Fiera Milano as an official partner of Milano Cortina 2026. Fiera Milano's venues will host some of the most prestigious competitions of the Winter Games and more: the two specially remodeled pavilions within the Rho exhibition center will be the stage for Speed Skating competitions and some matches of the Ice Hockey tournaments. The Allianz MiCo congress center will host all the Italian and international media throughout the Olympic event. This partnership will play a significant role in promoting Italy's image as a hub of innovation and dynamism, while also strengthening the connection between tradition and modernity, a defining characteristic of the Milano Cortina 2026 project. By becoming a partner of Milano Cortina 2026, Fiera Milano further solidifies its identity and reaffirms its ability to be a truly international platform, capable of hosting not only trade fairs but also sporting, cultural and musical events.

Fiera Milano completed the acquisition of 51% of the share capital of Expotrans S.p.A. ("Expotrans"), a leading company in Italy in logistics services for exhibitions, congresses and international events. The transaction, in line with the 2024-2027 Strategic Plan, allows the Group to strengthen its integrated service offering for exhibitors and organizers across the entire value chain, enhancing its presence in exhibition logistics. The acquisition was completed for a total value of Euro 6.3 million, fully financed through available cash resources, with a price adjustment mainly based on the net financial position.

For further details, please refer to the press release dated 15 April 2025, available in the "Investors" - "Press Releases" section of the website https://www.fieramilano.it.

On 29 April 2025, Fiera Milano signed two five-year loans, structured as Sustainability-Linked Loans ("SLL"), each worth Euro 10 million, with Crédit Agricole Italia and Banco BPM. The financial resources obtained will support the investments outlined in the 2024-2027 Strategic Plan, with a focus on the development and strengthening of digital and technological infrastructures, key elements in promoting innovation and operational efficiency. At the same time,