GHC: Board of Directors approves Interim Financial Report at September 30, 2025

• REVENUES OF €363.2M (+4.6% vs 9M 2024)
• OP. EBITDA ADJ.(1) OF €62.6M (+6.3% vs 9M 2024), WITH MARGIN OF 17.2% CONFIRMING ORGANIC GROWTH OUTLOOK FOR FY 2025
• GROUP NET PROFIT OF €23.2M (+25.2% VS. 9M 2024)
• NFP OF €194.4M, WITH FINANCIAL LEVERAGE(2) OF 2.4x. OPERATING CASH GENERATION IN NINE MONTHS OF ~€23M, SUPPORTED BY THE EXPECTED NET WORKING CAPITAL IMPROVEMENT REGISTERED IN Q3 KEY Q3 2025 RESULTS:
• REVENUES OF €105.0M (+9.6% vs Q3 2024)
• OP. EBITDA ADJ. OF €15.5M (+41.9% vs. Q3 2024)

‌(1)Operating EBITDA Adjusted defined as EBIT + depreciation and amortisation + provisions and write-downs + adjustments (these latter in 9M 2025 negative for approx. €0.1M and entirely concerning M&A costs for the acquisition of Città di Roma announced in July). The 9M 2024 adjustments were negative for €0.1M and mainly concerned M&A costs

‌(2)Calculated as the ratio between NFP and Operating EBITDA Adj. for the last 12 months

The GHC Group's 9M 2025 results, as for the 9M 2024 results, include the full contribution of Sanatorio

Triestino, acquired in May 2023, and of the Aurelia Group, acquired in November 2023.

GHC's consolidated Revenues in the first nine months of 2025 totalled €363.2M, up €15.8M from €347.3M in 9M 2024 (+4.6%). These results, as in H1, particularly benefit from the increase in services provided to Out-of-Region patients, confirming the consistent attractiveness of the Group facilities.

The 9M 2025 results include the full contribution of Sanatorio Triestino for €12.7M, improving €0.2M on

€12.5M for 9M 2024, and of the Aurelia Group for €75.2M, up 11.7% on €67.3M in the previous year, thanks also to the new remuneration mechanism established by the Lazio Region for Emergency Room and Intensive Care Unit activities, in addition to the significant growth in private activity.

GHC's consolidated Revenues in Q3 2025 totalled €105.0M, up €9.2M on €95.8M in Q3 2024 (+9.6%).

It should be noted that Q3 2025 continued to benefit significantly from the increase in services provided to Out-of-Region patients, as already noted in the first half of the year.

Consolidated 9M 2025 Operating EBITDA Adjusted was €62.6M, with a margin of 17.2% (vs. 17.0% in the previous year). This figure reflects the extremely strong Q3 performance, which grew substantially over Q3 2024.

The 9M 2025 results include the full contribution of Sanatorio Triestino for €1.9M, substantially in line with 9M 2024 despite the increased energy costs of the subsidiary Terme del Friuli-Venezia Giulia, and of the Aurelia Group for €7.2M, up approx. 40% on €5.1M in the previous year, in view of the increased Revenues outlined above, together with the ongoing efficiency and cost control measures.

Consolidated Operating EBITDA Adjusted in Q3 2025 was €15.5M, with a margin of 14.7% (vs 11.4% in the previous year). This figure reflects in particular the improvement of the Aurelia Group, which reported in the quarter a margin of approx. 10% vs substantial breakeven in Q3 2024.

9M 2025 EBIT was €41.4M, significantly up on €36.9M in 9M 2024 (+12.1%).

This result reflects: (i) amortisation, depreciation and write-downs of approx. €20.2M, increasing €1.2M on

€19.0M in 9M 2024, mainly due to the increased depreciation on buildings and plant and machinery and (ii) Impairments and other provisions of €0.9M, reducing €2.0M on €2.9M in 9M 2024, mainly due to the reduced net provisions.

The Net Profit was €23.2M, increasing €4.7M on €18.6M for 9M 2024 (+25.2%). This figure reflects: (i) net financial charges of €8.4M, reducing €2.5M vs. €10.9M in 9M 2024, mainly due to the lower cost of debt thanks to the new financing conditions agreed in July 2024 and (ii) income taxes of €9.7M, up €2.4M on

€7.3M in 9M 2024 as a result of the higher profit before taxes.

The Net Financial Position of GHC at September 30, 2025 was €194.4M, with liquidity of €33.6M and financial debt of €228.0M, improving €4.6M on 31.12.2024 mainly thanks to the generation of operating cash in Q3 2025 of €16.7M, supported by the expected improvement in Net Working Capital.

Excluding the cash outflows for the distribution of dividends in May 2025, the expansion Capex, the purchase of treasury shares and the advance paid for the acquisition of Città di Roma, the NFP would amount to

€176.3M, with operating cash generation of approx. €23M on 31.12.2024.

During 9M 2025, the Group invested a total of approx. €22.3M (€12.5M in 9M 2024), of which €12.9M for maintenance and €9.4M for expansion and development, mainly attributable to the new project of the "Cardiovascular Heart Center" of excellence at national level started in August 2025.

‌(3)Calculated as the ratio between NFP and Operating EBITDA Adj. for the last 12 months

There were no subsequent events to period-end.

The results recorded by the Group in the first nine months of 2025 confirm not only the structural trends in the growth of demand for healthcare and social assistance services, but above all GHC's ability to benefit from this growth to a greater extent than the reference market thanks to the availability of facilities and professionals of the highest caliber.

In this context, the Group remains focused on every initiative aimed at developing organic growth, already evident in the nine months from the increase in activity with Out-of-Region patients and the significantly better performance of the Aurelia Group, which in the coming financial years will also benefit from the incremental contribution of the new Cardiovascular Heart Center.

At the same time, the Group renews its commitment to the Buy & Build strategy, which identifies M&A as one of the main drivers of its short and medium-term development, as demonstrated by the recent acquisition of Casa di Cura Città di Roma, which is expected to fully join the Group in January 2026.

The Company announces that this afternoon, November 14, 2025, at 3PM (CET) a conference call shall be held for investors and analysts to provide an overview of the key 9M 2025 results. The Group's Chief Executive Officer Ms. Maria Laura Garofalo, together with the top management, will take part in the conference call. The call shall be held in Italian. A transcript of the call shall be made available also in English on the company website (https://www.garofalohealthcare.com, Investor Relations / Presentations section).

Registration via the link below is required to participate in the conference call. It is specified that once you have registered (by accessing the link below), you will receive a registration notification by email with which you will be notified of your personal Passcode and PIN, which must be used to directly and uniquely access the conference call:

https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=8953652&linkSecurity String=19075a60b8

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The Interim Financial Report at September 30, 2025 is available to the public on the Company's website https://www.garofalohealthcare.com in the Accounts and Reports section and on the eMarket Storage authorised storage mechanism (https://www.emarketstorage.com).

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The Executive Officer for Financial Reporting, Mr. Luigi Celentano, states in accordance with paragraph 2, Article 154-bis of the Consolidated Finance Act that the accounting information in this press release corresponds to the underlying accounting documents, records and entries. The data in this press release have not been audited.

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The GHC Group, listed on the Euronext STAR segment of the Italian Stock Exchange, is an Italian accredited private healthcare leader operating through 37 healthcare facilities demonstrating excellence and offering a comprehensive range of services covering all areas of healthcare thanks to diversified specialties, the use of cutting-edge technologies and highly-qualified personnel. The Group in fact operates across eight regions in Northern and Central Italy (Piedmont, Lombardy, Veneto, Friuli-Venezia Giulia, Emilia Romagna, Liguria, Tuscany and Lazio), covering in the hospital sector acute admissions, long-term care, post-acute rehabilitations and outpatient services (the "Hospital Sector"), and in the social services and dependency care sector covering residential admissions and district outpatient services (the "Outpatient and Dependency Care Sector").

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Garofalo Health Care S.p.A. Mimmo Nesi - Investor Relator

Tel. +39 06 68489231 - ir@garofalohealthcare.com Website: https://www.garofalohealthcare.com

Barabino & Partners

Massimiliano Parboni - m.parboni@barabino.it Tel. +39 335 8304078

Giuseppe Fresa - g.fresa@barabino.it Tel. +39 348 5703197