IP - 1Q2026 Financial Results - 15 May 2026

IOF2N

Contents

Directors' remarks on performance in Q1 2026 13

Alternate performance measures 14

Q1 consolidated income statements 15

Events occurring in Q1 2026 16

Revenues 19

Profitability 20

Cash flows 22

Capital expenditure 24

Intercompany relations and related party transactions 25

Changes in group structure in Q1 2026 25

Events occurring after the end of Q1 2026 26

Business outlook 27

Financial statements and notes 29

Consolidated statement of financial position 31

Q1 consolidated income statements 33

Q1 consolidated statement of comprehensive income 34

Q1 consolidated cash flow statements 35

Consolidated statement of changes in shareholders' equity 37

Notes to the consolidated financial statements 38

General information 38

Basis of preparation 38

Accounting standards 39

Notes to the consolidated financial statements at 31 March 2026 43

1. Consolidation perimeter and goodwill 44

2. Business sector information 49

3. Business combinations 54

4. Inventories and detail of changes in the Allowance for inventories 59

5. Property, plant and equipment 59

6. Assets held for sale 59

7. Shareholders' equity 60

8. Financial income and expenses 61

9. Earnings per share 62

10. Transactions with related parties 63

11. Disputes, Contingent liabilities and Contingent assets 66

This document can be accessed on the Internet at: https://www.interpumpgroup.it

Interpump Group S.p.A.

Registered office in S. Ilario d'Enza (Reggio Emilia), Via Enrico Fermi 25 Paid-up Share Capital: Euro 56,617,232.88

Reggio Emilia Companies Register - Tax Code 11666900151

Board of Directors Fulvio Montipò Executive Chairman

Giovanni Tamburi (b) Deputy Chairman

Fabio Marasi (d) Chief Executive Officer

Elena Iotti Independent Director

Nicolò Dubini (a) (c) Independent Director

Federica Menichetti (a) (b) (c) Independent Director

Lead Independent Director

Roberta Pierantoni (a) (c) Independent Director

Rita Rolli (b) (d) Independent Director

Anna Chiara Svelto (d) Independent Director

Independent Auditors PricewaterhouseCoopers S.p.A.

1. Member of the Control and Risks Committee

2. Member of the Remuneration Committee and the Nomination Committee

3. Member of the Related Party Transactions Committee

4. Member of the Sustainability Committee

Directors' remarks on performance in Q1 2026

Alternate performance measures

The Group uses several alternate measures that are not identified as accounting parameters in the IFRS, to allow better evaluation of the trend of economic operations and the Group's financial position. Such indicators are also tools that assist the directors in identifying operating trends and in making decisions on investments, resource allocation and other business matters. Therefore, the measurement criterion applied by the Group may differ from the criteria adopted by other groups and hence may not be comparable with them. Such alternate performance indicators are based exclusively on historical Group data and measured in conformity with the Guidelines on Alternative Performance Measures issued by ESMA/2015/1415 and adopted by Consob with communication no. 92543 of 3 December 2015. These indicators refer only to performance in the accounting period described in this Interim Report on Operations and the comparative periods, and not to expected performance, and must not be considered as substitutes for the indicators required by the reference accounting standards (IFRS). Finally, these alternate indicators are formulated consistently, using the same definitions and presentations for all periods for which financial information is included in this Interim Report on Operations.

The performance indicators used by the Group are defined as follows:

• Earnings/(Losses) before interest and tax (EBIT): Revenues plus Other operating income less Operating costs (Cost of sales, Distribution costs, General and administrative expenses, and Other operating costs);

• Earnings/(Losses) before interest, tax, depreciation and amortization (EBITDA): EBIT plus depreciation, amortization, writedowns and provisions;

• Net financial position: the sum of Financial debts and Bank debts less Cash and cash equivalents;

• Net indebtedness: calculated as the sum of the net financial position and debts for the acquisition of equity investments;

• Capital expenditure (CAPEX): the sum of investments in tangible and intangible fixed assets, net of divestments;

• Free cash flow: the cash flow available for the Group, defined as the difference between the cash flow from operating activities and the cash flow invested in tangible and intangible fixed assets;

• Capital employed: calculated as the sum of shareholders' equity and net financial position, including debts for the acquisition of equity investments;

• Return on capital employed (ROCE): EBIT / Capital employed;

• Return on equity (ROE): Net profit / Shareholders' equity.

  The Group's income statement is prepared by functional area (also called the "cost of sales" method). This format is deemed to be more representative than its "type of expense" counterpart, which is nevertheless included in the notes to the Annual Financial Report. The chosen format is consistent with internal reporting and the business management processes adopted.

  In order to enhance comparability with the economic and financial data reported in the prior period, certain economic information is provided both at constant perimeter (consolidation perimeter for the prior period, including companies acquired in the prior period for the same number of months, while excluding new acquisitions in the current period) and net of exchange differences (constant perimeter, applying the spot and average rates used in the prior period). The cash flow statement is prepared using the indirect method.

  Q1 consolidated income statements

  (€/000)	2026	2025
  Revenues	524,832	521,575
  Cost of sales	(342,902)	(334,426)
  Gross profit	181,930	187,149
  % of revenues	34.7%	35.9%
  Other net revenues	9,176	9,676
  Distribution expenses	(44,500)	(48,002)
  General and administrative expenses	(62,647)	(59,844)
  Other operating costs	(1,170)	(1,698)
  EBIT	82,789	87,281
  % of revenues	15.8%	16.7%
  Financial income	9,552	7,412
  Financial expenses	(11,524)	(16,374)
  Equity method contribution	(29)	182
  Profit for the period before taxes	80,788	78,501
  Income taxes	(23,322)	(21,533)
  Consolidated profit for the period	57,466	56,968
  % of revenues	10.9%	10.9%
  Attributable to:
  Shareholders of Parent	57,096	56,733
  Minority shareholders of subsidiaries	370	235
  Consolidated profit for the period	57,466	56,968
  EBITDA	114,697	117,343
  % of revenues	21.9%	22.5%
  Shareholders' equity	2,152,783	2,053,921
  Net financial position	294,641	383,333
  Debts for the acquisition of equity investments	82,218	67,698
  Capital employed	2,529,642	2,504,952
  ROCE	3.3%	3.5%
  ROE	2.7%	2.8%
  Basic earnings per share	0.538	0.531

  Events occurring in Q1 2026

  The outlook for the world economy is still clouded by considerable uncertainty at the start of 2026, fueled by geopolitical crises and structural changes in trade policies that have accentuated the fragmentation of international markets. The escalation of the conflicts in the Middle East, with the US-Israeli attack on Iran at the end of February, has resulted in a supply-side shock to the markets for energy products, with potential systemic effects on economic growth, employment and inflation. The strength of Iran as a key supplier of petroleum and the strategic importance of the Strait of Hormuz have resulted in higher prices for the principal energy commodities. This adverse effect is currently offset by investment in the technology sectors, the reduction in US customs tariffs from the end of February, and the continued buoyancy of economic activity following the close of 2025.

  The scale of the economic impact of the current crisis is hard to assess at the moment, being dependent on its persistence in the light of attempted negotiations, still ongoing, between the United States and Iran.

  Revised IMF estimates indicate a slower rise in global GDP, revised down to 3.1% in 2026 and 3.2% in 2027, compared with the previous two-year period (about 3.4%). The new level should be maintained over the medium term, subject to any further direct and indirect impacts arising from, among others, geopolitical risks, threats to resources, and technological innovation. Global inflation is expected to rise to 4.4% in 2026, before easing to 3.7% in 2027 (higher than previous estimates). This mainly reflects the increased cost of energy commodities, caused by recent geopolitical tensions in the Middle East that have influenced global production and logistics costs (source: IMF).

  The principal central banks kept their reference rates unchanged during Q1 2026, while signaling possible rate adjustments during the year to tackle the adverse consequences of inflation and heightened conflict.

  The macroeconomic parameters of the major economies in the early months of the year indicate as follows:

• Projected GDP growth in the Euro area of 1.1% in 2026, 1.2% in 2027, and 1.1% in 2028. These statistics all represent downward revisions, especially for 2026, to reflect the global impact of the conflicts in the Middle East on the markets for energy commodities, which may constrain both consumption and investment. Over the medium term, internal demand is expected to remain the principal driver of growth in the Euro area, supported by the resilience of the jobs market, and by public spending on infrastructure and defense. Exports should also accelerate as a consequence of more sustained external demand. Inflation is expected to reach 2.4% in 2026, before easing to 2.3% in 2027 and 2.0% in 2028. This upward revision, especially for 2026, again derives from the pressure placed on costs by higher energy prices (source: IMF; European Central Bank).

• The US economy grew strongly during Q1 2026, but a slowdown is expected soon due to lower domestic consumption, higher prices for energy commodities, slacker growth in the jobs market, and the reduction in household savings. GDP growth is expected to rise from 2.1% in 2025 to 2.3% in 2026, and then fall back to 2.1% in 2027. In terms of inflation, the effect of higher energy costs will more than offset the impact of lower import tariffs (revised down to about 9.9% in February, from 13.8% in December 2025). This adjustment should ease the impediments to global growth caused by higher tariffs, even though the latest changes might extend the uncertainties about trade policy.

  On the exchange-rate front, the US dollar appreciated by about 2% against the Euro following intensification of the Middle East conflicts (the dollar has confirmed its position as a reserve currency, bolstered by the lower US exposure to energy market shocks).

  Despite recognizing certain inflation and employment risks, enhanced by events in the Middle East, the Federal Reserve did not cut interest rates further in Q1 2026, holding them in the 3.50-3.75% range. (Source: Bank of Italy - OECD - Fed - ISTAT).

• Chinese GDP accelerated during Q1 2026 (to an annualized rate of 5%, from 4.5% in Q4). Despite the persistent weakness of domestic demand, this dynamic was principally sustained by foreign trade and the services sector. Economic activity slowed there in March, affected by the war in the Middle East. The Chinese trade surplus reached an historical maximum in 2025 (USD 1,200 billion). This was mainly led by the growth in exports to South-East Asia and the European Union, which more than compensated for the decline in trade with the United States. The government has set a growth target of 4.5-5.0% for 2026 as a whole (above IMF estimates, set at 4.4% for 2026 and 4.0% for 2027). The fifteenth five-year plan (for 2026-2030), presented at the recent CPC congress, indicates among the priorities: the strengthening of domestic demand, the development of strategic technologies (especially those linked to AI), and support for the energy transition (source: ISTAT - OECD - IMF).

  The tightening of customs policies during 2025 has resulted in higher tariffs for certain categories of goods sold by the Group. The effects of this increase, albeit mitigated by recent reductions, have already been felt in early 2026 compared with the same period in the prior year. That said, the percentage of Group turnover exported to the North American area is limited; in fact, the Group already has significant production facilities in the United States to support local demand, and these are not affected by the trade policies described above. Additionally, the Group adopted countermeasures in 2025 (continued in 2026) to absorb these tariff increases, while continuing to assess the developments arising from any new trade agreements.

  The Group continues to monitor the latest geopolitical and macroeconomic developments with care, assessing the potential direct and indirect effects should current conflicts escalate further, even though these are difficult to quantify at present. Where appropriate, the Group takes steps to mitigate the potential adverse impacts, including via geographical diversification of the sources of supply, stronger relations with alternate suppliers and careful management of operating and financial risks.

  In this context, the results generated by the Interpump Group in Q1 2026 were in line with those achieved in the same period of 2025, remaining significantly positive with regard to revenues, margins and cash generation.

  Revenues totaled € 524.8 million, up by 0.6% compared to Q1 2025 when they reached € 521.6 million. Analysis by business sector shows that revenues in the Hydraulic sector were 6.3% higher than in Q1 2025, while those in the Water-Jetting sector were 10.3% lower.

  EBITDA was € 114.7 million (21.9% of revenues). By comparison, EBITDA was € 117.3 million in Q1 2025 (22.5% of revenues).

  Despite pursuing major investment plans, during Q1 2026 the Group still managed to generate positive free cash flow of € 32.5 million, compared with € 29.6 million in Q1 2025.

  The net financial position (NFP) was € 294.6 million at the reporting date, compared with € 383.3 million at the end of Q1 2025 and € 291.1 million at 31 December 2025. The period-end total was

  principally influenced by the purchase of treasury shares for € 25.5 million, and net payments of € 4.0 million for the acquisition of equity investments.

  Net profit for Q1 2026 was € 57.5 million (€ 57.0 million in Q1 2025), reflecting an increase of 0.9%.

  The exposure of the Group to the countries involved in the Russia-Ukraine conflict remains moderate. Specifically, revenues totaled € 4.1 million in Q1 2026 (€ 4.2 million in Q1 2025), with outstanding receivables of € 2.8 million at period end (€ 2.6 million at 31 March 2025).

  With regard to the purchase of treasury shares:

• The mandate to purchase treasury shares terminated on 11 March 2026. Announced to the market on 17 February 2026, following authorization at the Shareholders' Meeting held on 29 April 2025, this mandate resulted in the acquisition of 500,000 treasury shares at an average purchase price of Euro 38.0429 each, with a total outlay of € 19.0 million.

• Again, following the authorization granted at the Shareholders' Meeting held on 29 April 2025, a new mandate was granted on 21 March 2026, and announced to the market on 23 March 2026, for the purchase of an additional 800,000 treasury shares in the period from 23 March to 22 June 2026. At 31 March 2026, cumulative purchases under this mandate totaled 197,000 treasury shares at an average purchase price of Euro 32.7179 each, with a total outlay of € 6.5 million.

  The dual purpose of these programs is to guarantee not only implementation of the share-based incentive plans arranged in favor of the directors, employees and key collaborators of the Group, but also the disposal and/or exchange of treasury shares, in the context of acquisitions and/or agreements with strategic partners that support the development of the Group.

  Compared with 2025, the consolidation perimeter of the Water-Jetting sector changed as follows during Q1 2026:

  • Nuova SM S.r.l. was absorbed by Pioli S.r.l. with effect from 1st January 2026.

    Compared with 2025, the consolidation perimeter of the Hydraulic sector changed as follows in Q1 2026:

  • Tutto Hidráulicos Ltda was absorbed by Hidrover Equipamentos Hidráulicos Ltda with effect from 1st January 2026.

Revenues

Revenues in Q1 2026 totaled € 524.8 million, up by 0.6% compared with € 521.6 million in Q1 2025 (-1.7% at constant perimeter and +2.2% also net of exchange differences).

Revenues by business sector and geographical area were as follows:

*= revenues principally earned in the United States of America.

The changes at constant perimeter are as follows:

2026/2025 percentage changes

At constant perimeter and exchange rates, the Hydraulic sector achieved organic growth of 6.9%, while the Water-Jetting sector contracted by 6.9%.

Profitability

The cost of sales accounted for 65.3% of revenues (64.1% in Q1 2025). Production costs, which totaled

€ 149.8 million (€ 142.6 million in Q1 2025, which however did not include the costs of the companies acquired subsequently), accounted for 28.5% of revenues (27.3% in the same period of 2025).

The cost of raw materials and components sourced on the market, including changes in inventories, was € 193.1 million (€ 191.8 million in the same period of 2025, which however did not include the costs of the companies acquired subsequently). The incidence of purchase costs, including the change in inventories, was 36.8% (also 36.8% in Q1 2025).

Distribution costs were 8.8% lower at constant perimeter (-5.3% also net of exchange differences) with respect to Q1 2025, with an incidence on revenues of 8.5% compared with 9.2% in Q1 2025.

General and administrative expenses were 1.8% higher at constant perimeter (+5.2% net of exchange differences) with respect to Q1 2025, with an incidence on revenues of 11.9% (compared with 11.5% in Q1 2025).

Total payroll costs were € 129.7 million (€ 124.0 million in Q1 2025, which however did not include the costs of the companies acquired subsequently).

At constant perimeter, payroll costs amounted to € 126.9 million, up by 2.4% due to the 1.9% rise in per capita cost and an increase of 49 in the average number of employees.

The average total number of Group employees in Q1 2026 was 9,680 (9,411 at constant perimeter), compared with 9,362 in Q1 2025. The increase in the average headcount during Q1 2026 can be broken down as follows: +222 in Europe, -24 in the US and +120 in the Rest of the World. In addition, the Group employed 1,526 temporary workers during the period (1,510 in Q1 2025) at a cost of € 6.2 million (€ 6.4 million in Q1 2025).

EBITDA totaled € 114.7 million (21.9% of revenues) compared with € 117.3 million in Q1 2025, which represented 22.5% of revenues. The following table sets out EBITDA by business sector:

* = Total revenues include those relating to other Group companies, while the revenues analyzed previously are exclusively those external to the Group (see Note 2 in the explanatory notes). Accordingly, for consistency, the percentage is calculated on total revenues rather than on those reported previously.

EBIT amounted to € 82.8 million (15.8% of revenues) compared with € 87.3 million in Q1 2025 (16.7% of revenues), down by 5.1%.

The tax rate for the period was 28.9% (27.4% in Q1 2025).

Net profit for Q1 2026 was € 57.5 million (€ 57.0 million in Q1 2025), reflecting an increase of 0.9%. Basic earnings per share rose from € 0.531 in Q1 2025 to € 0.538 in Q1 2026.

Capital employed has increased from € 2,486.2 million at 31 December 2025 to € 2,529.6 million at 31 March 2026.

Non-annualized ROCE was 3.3% (3.5% in Q1 2025).

Non-annualized ROE was 2.7% (2.8% in Q1 2025).

Cash flows

The change in net indebtedness breaks down as follows:

Net liquidity generated by operating activities totaled € 97.6 million (€ 98.5 million in Q1 2025), down by 0.9%. Free cash flow increased to € 32.5 million (€ 29.6 million in Q1 2025), despite the continued implementation of investment plans and the absorption of working capital.

Net indebtedness, including payables and commitments, determined in accordance with ESMA guidance 32-382-1138 and included in Consob notice no. 5/21, comprises:

Capital expenditure

Investments in property, plant and equipment totaled € 30.1 million (€ 30.8 million in Q1 2025), reflecting the ongoing investment plans, as broken down below:

Additions in Q1 2026 included € 14.0 million invested in land and buildings (€ 11.1 million in Q1 2025).

The difference with respect to the capital expenditure reported in the cash flow statement is due to the timing of payments.

Increases in intangible fixed assets amounted to € 2.4 million (€ 2.2 million in Q1 2025).

Intercompany relations and related party transactions

In compliance with the provisions of the Consob regulation adopted with resolution no. 17221 of 12 March 2010, as amended, Interpump Group S.p.A. has adopted the procedure that regulates related party transactions. This procedure was approved for the first time by the Board of Directors on 10 November 2010 and has been continuously updated in accordance with the regulatory provisions in force time by time and adapted to reflect current practices. In particular, on 28 June 2021 the Board of Directors approved a new version that takes account of the effects of Italian Legislative Decree 49/2019, which transposed into Italian law the provisions of Directive (EU) 2017/828 ("Shareholders' Rights II") with regard to related parties, as well as the related amendments made by CONSOB on 10 December 2020 to the Issuers' Regulation and the Regulation governing Related Party Transactions. On 4 August 2023 the Board of Directors approved a new version of the procedure that reflects the latest regulatory changes, of a minor nature, made since the amendments mentioned above. Lastly, on 6 August 2025 the Board of Directors approved new changes to the procedure that included inter alia the introduction of a significantly more detailed description of the duties and responsibilities of the various parties involved, of the rules governing Related Party Transactions in urgent cases, and of the conditions for exempting routine transactions carried out on market or standard terms. These changes also streamlined the governance of Related Party Transactions of Lesser Significance, assigning responsibility for their approval to the Chairman of the Board of Directors, in the context and to the extent of the powers granted to him, rather than to the Board as a whole. The new version can be found in the Corporate Governance section of the Interpump website (www.interpumpgroup.it).

Information on transactions with related parties is given in Note 10 of this Interim Report on Operations at 31 March 2026. Overall, no atypical or unusual transactions took place with related parties during Q1 2026 and the transactions that did take place were completed on an arm's-length basis.

Changes in group structure in Q1 2026

As described earlier, the consolidation perimeter changed as follows in Q1 2026 with respect to 31 December 2025:

Water-Jetting sector:

• Nuova SM S.r.l. was absorbed by Pioli S.r.l. with effect from 1st January 2026.

  Hydraulic sector:

• Tutto Hidráulicos Ltda was absorbed by Hidrover Equipamentos Hidráulicos Ltda with effect from 1st January 2026.

Events occurring after the end of Q1 2026

The Shareholders' Meeting of Interpump Group S.p.A., held on 30 April 2026, approved the 2025

financial statements and declared a dividend of € 0.35 per share. The meeting also:

• authorized the Board of Directors, for a period of eighteen months from the date of the shareholders' resolution (valid until October 2027), to purchase the maximum number of treasury shares permitted by the law in force at the time, at a maximum unit price of € 65.00, and to dispose of any treasury shares already purchased or that will be acquired in the future in execution of said authorization;

• appointed the new Board of Directors and the new Board of Statutory Auditors for the three-year period 2026/2028, until approval of the financial statements at 31 December 2028; the Board confirmed, having obtained a favorable opinion from the Board of Statutory Auditors, the appointment of the Manager in charge of preparing the Company's financial reports pursuant to art. 154-(2) of Decree 58/98 (TUF);

• approved renewal of the mandate granted to the Board of Directors to increase the share capital with the exclusion of pre-emption rights, pursuant to arts. 2443 and 2441(4) of the Italian Civil Code.

No atypical or unusual transactions occurred after the end of Q1 2026 that would require mention in this Report or changes to the consolidated financial statements at 31 March 2026.

Business outlook

Q1 revenue results are in line with the Group's estimates, with a particularly positive performance in the Hydraulic Sector. The same consistency was recorded in April, whose revenue confirms and strengthens the trend recorded in Q1. Consequently, despite a continuing challenging environment, the Group confirms, for the current financial year, its prudent estimate of revenue growth on an organic basis ranging between +3% and -2%. The level of profitability achieved during the quarter, even taking into account the different contribution of the two sectors, highlights the Group's ability to contain the impact of complex market scenarios thanks to the diversification of its activities and the flexibility that characterises its operating model. For these reasons, the Group estimates that, for the current financial year, it will be able to maintain its margin within a range of between 22% and 22.5%, and to confirm robust levels of cash generation.

Sant'Ilario d'Enza (RE), 15 May 2026

For the Board of Directors Fulvio Montipò

Executive Chairman

Mauro Barani, the Manager in charge of preparing the Company's financial reports, declares - pursuant to article 154-(2), subsection 2, TUF - that the accounting disclosures in this document correspond to the contents of the underlying documents, the accounting books and the accounting entries.

Sant'Ilario d'Enza (RE), 15 May 2026

Mauro Barani

Manager in charge of preparing the Company's financial reports

Financial statements and notes

Consolidated statement of financial position

Q1 consolidated income statements

Q1 consolidated statement of comprehensive income

Q1 consolidated cash flow statements

Cash and cash equivalents consist of the following:

37

Interim Report on Operations at 31 March 2026 - Interpump Group

Consolidated statement of changes in shareholders' equity

Notes to the consolidated financial statements

General information

Interpump Group S.p.A. is a company domiciled in Sant'Ilario d'Enza (Reggio Emilia, Italy) and incorporated under Italian law. The company is listed on the Milan stock exchange in the Euronext Star Milan segment.

The Group manufactures and markets high and very high pressure plunger pumps, very high pressure systems, equipment for the food processing industry, chemicals, cosmetics, pharmaceuticals, mechanical sifters and automated milking systems (Water-Jetting sector), power take-offs, gear pumps, hydraulic cylinders, valves and directional controls, hydraulic hoses and fittings, gears, orbital motors, steering systems (hydroguide) and other hydraulic components (Hydraulic sector). The Group has production facilities in Italy, the US, Germany, China, India, France, Portugal, Spain, Brazil, Bulgaria, Romania, Canada, Poland, New Zealand and South Korea.

Revenues are not affected by any significant degree of seasonality.

The consolidated financial statements include Interpump Group S.p.A. and its directly or indirectly controlled subsidiaries (hereinafter "the Group").

The consolidated financial statements at 31 March 2026 were approved by the Board of Directors today (15 May 2026).

Basis of preparation

The consolidated financial statements at 31 March 2026 have been prepared in compliance with the international accounting standards (IAS/IFRS) for interim financial statements. The tables have been prepared in compliance with IAS 1, while the notes have been prepared in condensed form, as allowed by IAS 34, and therefore do not include all the information required for annual financial statements prepared in compliance with IFRS standards. Accordingly, the consolidated financial statements at 31 March 2026 should be read together with the consolidated financial statements for the year ended 31 December 2025.

The accounting standards and criteria adopted in the consolidated financial statements at 31 December 2025 may conflict with IFRS provisions in force on 31 December 2025, due to the effect of future orientations of the European Commission with regard to the approval of international accounting standards or the issue of new standards, interpretations or implementing guidelines by the International Accounting Standards Board (IASB) or the International Financial Reporting Interpretations Committee (IFRIC).

Preparation of an interim report in compliance with IAS 34 Interim Financial Reporting calls for judgments, estimates, and assumptions that have an effect on assets, liabilities, costs and revenues and on information regarding contingent assets and liabilities at the report reference date. Any estimates made may differ from the actual results obtained in the future. In addition, some measurement processes, notably those that are more complex, such as the determination of impairment losses on non-current assets, are generally only performed in a comprehensive manner at the time of preparing the annual financial statements, when all the necessary information is available, except in cases in which evidence of impairment exists, when the immediate measurement of any

Interim Report on Operations at 31 March 2026 - Interpump Group 39

losses in value is required. Likewise, the actuarial valuations required to determine the liability for employee benefits are normally made when preparing the annual financial statements.

The consolidated financial statements are presented in thousands of euro. The financial statements are prepared using the cost method, with the exception of financial instruments, which are measured at fair value.

Accounting standards

The accounting standards adopted are those described in the consolidated financial statements at 31 December 2025, with the exception of those adopted as from 1 January 2026 as described hereunder, and they were uniformly applied to all Group companies and all periods presented.

1. Accounting standards, amendments and interpretations in force from 1 January 2026 and adopted by the Group

   • Amendments to IFRS 9 and IFRS 7, Amendments to the Classification and Measurement of Financial Instruments: On 30 May 2024, the IASB published an Exposure Draft that amends in particular IFRS 9 (Financial Instruments) and IFRS 7 (Financial Instruments: Disclosures), proposing amendments to ensure inter alia that the financial statements reflect more fairly the effects that contracts for renewable electricity have on a company.

     The standard applies to reporting periods beginning on or after 1 January 2026. Early application was allowed.

   • Annual improvements to IFRS - Volume 11: On 19 July 2024, the IASB published the Annual Improvements to IFRS Accounting Standards - Volume 11, which contains clarifications, simplifications, corrections and amendments to the IFRS that improve their internal consistency. The following accounting standards were modified: IFRS 1 First-time Adoption of International Financial Reporting Standards, IFRS 7 Financial Instruments: Disclosures and its accompanying Guidance on implementing IFRS 7, IFRS 9 Financial Instruments, IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows. The amendments apply from 1 January 2026. Early adoption was allowed.

   • Amendments to IFRS 9 and IFRS 7, Amendments to the Contracts Referencing Nature-dependent Electricity: On 18 December 2024, the IASB published amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures, to help entities report better the financial effects of contracts structured as Power Purchase Agreements (PPAs), so that investors receive clearer information about their financial performance and expected cash flows.

     The amendments apply from 1 January 2026. Early adoption was allowed.

     The adoption of these standards had no significant effects on the financial statements of the Group.

2. Accounting standards, amendments and interpretations taking effect as from 1 January 2026 but not relevant for the Group

   All accounting standards that took effect from 1 January 2026 are relevant for the Group.

3. New accounting standards and amendments not yet applicable and not adopted early by the Group

   • IFRS 18 - Presentation and Disclosure in Financial Statements: On 9 April 2024, the IASB published a new standard that introduces certain important disclosures to be made in the explanatory notes to the financial statements when performance indicators are used that, as per the new standard, fall within so-called Management-defined Performance Measures. This ensures more transparent and comparable information for investors on the financial results of companies. All companies that adopt IFRS will apply this standard.

     The standard will apply to reporting periods beginning on or after 1 January 2027. Early application is allowed.

     During 2025, the Group began work to analyze and assess the potential impacts of applying IFRS 18. The effects of applying this standard are still being assessed and, at this time, its impacts on the consolidated financial statements have not yet been determined.

   • IFRS 19 - Subsidiaries without Public Accountability: Disclosures: On 9 May 2024, the IASB published a new standard for subsidiaries without public accountability, which allows qualifying subsidiaries to apply IFRS with limited disclosures. The application of IFRS 19 will reduce the cost of preparing the financial statements of subsidiaries, while retaining the usefulness of the information provided to the users of their accounts.

     The standard will apply to reporting periods beginning on or after 1 January 2027. Early application is allowed.

   • Amendments to IFRS 19 - Subsidiaries without Public Accountability: Disclosures: The IASB published these amendments to IFRS 19 on 21 August 2025. The newly-issued amendments help eligible subsidiaries by reducing disclosure requirements for Standards and amendments issued between February 2021 and May 2024. Specifically:

     • IFRS 18 - Presentation and Disclosure in Financial Statements;

     • Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7);

     • International Tax Reform-Pillar Two Model Rules (Amendments to IAS 12);

     • Lack of Exchangeability (Amendments to IAS 21); and

     • Amendments to the Classification and Measurement of Financial Instruments

       (Amendments to IFRS 9 and IFRS 7).

       With these amendments, IFRS 19 reflects the changes to IFRS Accounting Standards that take effect up to 1 January 2027, when IFRS 19 will be applicable.

   • Amendments to IAS 21 - The Effects of Changes in Foreign Exchange Rates: The IASB published an amendment to IAS 21 on 13 November 2025 that clarifies how entities should translate financial statements from a non-hyperinflationary currency into a hyperinflationary one. The objective is to improve the usefulness and comparability of the resulting information.

The standard will apply to reporting periods beginning on or after 1 January 2027. Early application is allowed.

The Group is currently assessing the possible impacts of the new standards included in this section.