SeSa S p A : Interim Report as of July 31, 2025

July 31, 2025

1

Contents

Management and auditing boards of Sesa SpA 3

Highlights 4

Sesa Group Business Model 5

Foreword 8

Preparation Criteria and Accounting Standards 8

Alternative Performance Indicators and Pro-forma results 9

Significant events during the period 11

Performance of operations 12

General economic performance 12

Development of demand and trends in the sector in which the Group operates 13

Economic highlights of the Sesa Group 14

Highlights of the Group income statement and balance sheet 17

Governance Model 25

Long-term sustainable value creation 27

People 27

Hiring 28

Training and Development of resources 28

Health and Safety 29

Welfare 30

Segment Information 30

Transactions with Related Parties and Group companies 34

Significant events occurring after the end of the quarter 34

Business outlook 34

Consolidated Income Statement 36

Consolidated Statement of Changes in Equity 36

Consolidated Statement of Financial Position 37

Consolidated Cash Flow 38

Declaration pursuant to article 154-bis, paragraph 2, of Legislative Decree no. 58 of 24 February 1998, "Consolidated Law on Financial Intermediation", as amended 39

‌Management and auditing boards of Sesa SpA

Board of Directors

Corporate Governance Bodies

Deadline

Control and Risks and Related Parties Committee

Giuseppe Cerati (Presidente), Giovanna Zanotti, Chiara Pieragnoli approval of FS as of 30 April 2027

Amministratore Incaricato del Controllo Interno: Alessandro Fabbroni approval of FS as of 30 April 2027

Remuneration Committee

Angela Oggionni (Presidente), Giovanna Zanotti, Claudio Berretti approval of FS as of 30 April 2027

Sustainability Committee

Angela Pellizzari (Presidente), Giovanna Zanotti, Alessandro Fabbroni approval of FS as of 30 April 2027

Management Control Committee

Supervisory Board pursuant to Law 231/2011

Auditing company

Deadline

Company entrusted with the statutory audit KPMG SpA approval of FS as of 30 April 2031

‌Highlights

(1) Adjusted operating profit before amortisation of client lists and know-how recognised as a result of the Purchase Price Allocation (PPA) process and the Stock Grant costs (for FY 2022 and FY 2023). Adjusted net profit attributable to the Group before amortisation of client lists and know-how recognised as a result of the PPA process and the Stock Grant costs (for FY 2022 and FY 2023), net of related tax effect. (2) Net Financial Position not including non-interest-bearing payables and commitments for deferred payments of corporate acquisitions (Earn Out, Put Option, deferred prices) and liabilities recognised in application of IFRS 16. (3) Dividends paid in the following year from the profit for the year as at 30 April of each year. 4) Dividends gross of the portion relating to treasury shares. (5) Dividends before the share relating to treasury shares / Consolidated Net Profit attributable to shareholders. (6) Capitalisation based on share price as at 31 January each year / Consolidated Shareholders' Equity. (7) Dividend per share / Market value per share as at April 30 each year. (8) Net profit attributable to the Group/ average number of ordinary shares net of treasury shares held (9) Net profit attributable to the Group / average number of ordinary shares net of treasury shares in portfolio and including the impact of stock grants (up to the limit of treasury shares in portfolio).

‌Sesa Group Business Model

Sesa SpA, headquartered in Empoli (FI), is active throughout Italy and present in a number of foreign countries including Germany, Switzerland, Austria, France, Spain, Romania.

Sesa Group represents the reference operator in the Digital Technology, Consulting, and Vertical Applications sector, with consolidated revenues of Euro 3,356.8 million and 6,532 resources as of April 30, 2025.

The Sesa Group's mission is to offer technology solutions, digital services and business applications to enterprises and organisations by supporting them in their innovation journey. Due to the skills and specialisation of its human resources, the Sesa Group operates in the value-added segments of Information Technology, with an organisational model in vertical business sectors and business lines.

The Business Sectors (SSI, Business Services, ICT VAS and Digital Green VAS) have a strong focus on the target market with dedicated marketing and sales structures.

Within each of the Sectors, Strategic Business Unit are developed with specialised technical and commercial structures for market segments and areas of expertise.

CORPORATE SECTOR

The Corporate Sector is responsible for the Group's strategic governance as well as operational and financial management.

In particular, Sesa S.p.A. acts as an operating holding company and Group management entity, overseeing administrative and financial management, organization, planning and control, human resources, information systems, corporate governance, legal and corporate affairs, as well as extraordinary finance operations of the Group, with a total of approximately 190 resources.

The Corporate Sector also includes the activities of Adiacent and ISD Italy, operating respectively in the digital and customer experience market and in IT Services, addressing the market both directly and through the Group's sectors.

Adiacent has approximately 190 resources, operating in Italy and in the APAC Region, while the IT Services area includes around 150 resources.

SOFTWARE AND SYSTEM INTEGRATION (SSI) SECTOR

The Software and System Integration Sector operates in the provision of Technological Innovation, Business Integration solutions, and consulting services for the Enterprise segment, with approximately 4,000 resources as of April 30, 2025, and a presence both in Italy and in

several major European countries.

Var Group S.p.A., which consolidates this sector, is a leading operator in digital integration for SME and Enterprise segments, serving a client base of over 10,000 companies, including 2,000 international clients, through an integrated offering across the following areas: Cloud Technology Services, Cyber Security, ERP & Vertical Software Solutions, Enterprise International Platforms, Digital Workspace, Data/AI, and Digital Experience.

industrial districts (such as Sirio, Panthera, Essenzia, Sigla++, and applications for the food retail sector). The ERP & Vertical Software Solutions Business Unit is the largest operational area within the sector in terms of workforce, with approximately 1,300 resources.

This Business Unit also plays a strategic role in supporting the development of skills and applications across the other competence centers in Cloud, Cyber Security, and Vertical Applications.

a center of excellence integrated with the overall SSI offering.

BUSINESS SERVICES SECTOR (BS)

The Business Services Sector, consolidated through Base Digitale Group, is organized into two main competence centers and operates in the provision of Digital Platform, Security Solutions, and Vertical Software Solutions for the Financial Services segment. Within the sector, AI capabilities and tools have been developed and embedded into the digital platforms offered to clients.

It employs over 300 human resources and includes a research and development center based in Parma.

Starting from fiscal year 2025, the Business Unit also includes the offering of Advance Technology Solutions

S.p.A., acquired in May 2024, with over 100 resources specialized in the development of capital markets platforms, and with specific expertise in Data/AI.

VALUE ADDED SOLUTIONS SECTOR (ICT VAS)

The Value Added Solutions Sector operates in the aggregation of technological solutions for the business segment, offering integrated services in consulting, marketing, education, and technical support. Computer Gross S.p.A., which consolidates this sector, is the Italian leader in Value Added Distribution, holding a 48% market share (source: Sirmi, year 2025), with a customer base of approximately 20,000 active business partners across the country.

The sector benefits from strategic partnerships with major international vendors and from the specialization of its business units, supported by teams with strong technical and digital expertise, primarily focused on Advanced Solutions (Cloud, Security, Data Center, Networking, and Data/AI Solutions), which represented approximately 75% of VAS revenues in fiscal year 2025.

The unit develops AI projects in partnership with leading global vendors such as Microsoft and IBM.

During the fiscal year, Computer Gross continued to

expand its skills and business in the AI domain, particularly through partnerships with IBM watsonx and Microsoft, focusing on AI Copilot solutions.

Thanks to partnerships with leading international vendors, especially Cisco, the networking and collaboration offering facilitates communication and collaboration within companies and organizations, as well as across ecosystems and communities.

DIGITAL GREEN SECTOR (DG)

The Digital Green VAS Sector operates in technologies (such as solar panels, inverters, and storage systems) and services for environmental sustainability, renewable energy production, and refurbished solutions. Its offering includes solutions for renewable energy generation and energy efficiency, aimed at reducing the environmental impact of organizations.

Established following the acquisition of P.M. Service S.r.l. in 2022, the sector expanded further during fiscal year 2025 with the entry of GreenSun (M&A transaction finalized in November 2024), creating a leading operator in the sector with a turnover of approximately Euro 350 million.

‌Foreword

The numerical information included in this Interim Report on Operations and the comments contained therein are intended to provide an overview of the interim financial position and results of operations of the Sesa Group (referred to hereinafter also as the "Group"), of the relative changes during the reporting period, and of the significant events affecting the result for the period.

The Group's Interim Report on Operations as of July 31, 2025 is related to the first three months of operation and represents the first financial disclosure prepared by the parent company Sesa SpA for the year ending April 30, 2026.

For a better assessment of the Group's income and financial performance, this document presents the reclassified balance sheet, cash flow statement and income statement for the period ended July 31, 2025 and for the corresponding period of the previous year, together with some alternative performance ratios.

The Group Interim Report as of July 31, 2025 is not subject to audit.

‌Preparation Criteria and Accounting Standards

Sesa Group's Interim Report on Operations (referred to hereinafter also as the "Interim Report") has been prepared in compliance with article 154-bis, paragraph 5 of Legislative Decree no. 58/1998 as well as the pertinent Consob regulations. The Interim Report has been prepared in compliance with the International Financial Reporting Standards ('IFRS') issued by the International Accounting Standards Board ("IASB"), approved by the European Union and in force at the time of approval. The Group's balance sheet, cash flow statement and income statement as of July 31, 2025 are annexed hereto.

The accounting standards and the criteria adopted when preparing the Interim Report of July 31, 2025 comply with those adopted for the consolidated Group financial statements for the year ended April 30, 2023, taking into account those specifically applicable to interim situations. The Interim Report of July 31, 2025 includes the Interim Financial Report of Sesa SpA as well as the Interim Financial Reports of the subsidiaries of July 31, 2025. These interim financial reports have been adjusted, where necessary, to align them with the IFRS.

‌Alternative Performance Indicators and Pro-forma results

For a better assessment of the economic performance and financial position of the Group and its Sectors of activity, the management of Sesa SpA uses some alternative performance indicators that are not identified as accounting measures under IFRS. These indicators facilitate the identification of operational trends and support decisions about investments, allocation of resources and other operational decisions. Therefore, the measurement criteria applied by the Group may not be consistent with those adopted by other groups and therefore not comparable. These alternative performance indicators are made up exclusively from historical data of the Group and determined in accordance with the Guidelines on Alternative Performance Indicators issued by ESMA/2015/1415 and adopted by Consob with communication no. 92543 of 3 December 2015. They refer only to the performance of the accounting period in question and of the comparison periods and not to the expected performance and must not be considered as substitutes for the indicators provided for by the reference accounting standards (IFRS). Finally, they have been prepared maintaining continuity and homogeneity of definition and representation for all periods for which financial information is included in this document.

In line with the abovementioned communications, the criteria used to construct these indicators are provided below.

• Ebitda (Gross Operating Margin) is defined as the profit for the period before depreciation and amortisation, provisions for bad debts, provisions for risks, notional costs relating to stock grant plans, financial income and expenses excluding amortisation and depreciation of customer lists and know-how recorded in the Purchase Price Allocation of the companies acquired and included in the scope of consolidation, profit (loss) of companies accounted for using the equity method, and taxes;
• Adjusted Operating Result (Ebit) defined as Ebitda net of amortisation and depreciation of tangible and intangible fixed assets (excluding amortisation and depreciation of client lists and know-how recorded in the Purchase Price Allocation of the companies acquired and included in the scope of consolidation), provisions for bad debts, provisions for risks, excluding notional costs relating to stock grant plans;
• Operating Result (Ebit) defined as Ebitda net of depreciation and amortisation, provisions for bad debts, provisions for risks, notional costs related to stock grant plans;
• Adjusted net result defined as net profit before

  (i) amortisation of customer lists and know-how

  recorded in the Purchase Price Allocation of the companies acquired and included in the scope of consolidation, and (ii) net of Stock Grant plan costs, net of the related tax effect;

• Group's adjusted net result defined as the Group's net profit before (i) amortisation of customer lists and know-how recorded in the Purchase Price Allocation of acquired companies included in the scope of consolidation, (ii) non-cash costs related to Stock Grant plans, net of the related tax effect, and (iii) non-recurring taxes and taxes related to prior years.
• Net working capital is the algebraic sum of inventories, trade receivables, other current assets, trade payables and other current liabilities;
• Net Financial Position (NFP) is the sum of cash and cash equivalents, other current financial assets, and current and non-current loans;
• Total Net Financial Position (NFP) Reported is the algebraic sum of cash and cash equivalents, other current financial assets, current and non-current loans, current and non-current financial liabilities for rights of use, and payables and commitments for the

purchase of equity investments from minority shareholders current and non-current. It complies with the definition of Net Financial Debt as set forth in Consob Communication No.

6064293 of 28 July 2006 and in accordance with ESMA Recommendation ESMA/2013/319.

.

For the sole purpose of preparing the reclassified income statement, the fair value adjustment of liabilities related to Put and Earn-Out options granted to minority shareholders, as well as fair value revaluations in the case of step-up acquisitions, are reclassified from financial income and expenses to the item Other Income.

The pro-forma consolidated statements included in this document have been prepared for informational and comparative purposes only, and comprise the reclassified consolidated balance sheet, the reclassified consolidated income statement, and the segment information as of 31 July 2024.

The pro-forma statements as of 31 July 2024 have been prepared solely for comparative purposes in order to simulate:

(i) the effects that the acquisition of 67% of the share capital of Greensun S.r.l. (Digital Green Sector), which was effectively consolidated in November 2024, would have had on the Group's results if it had been included in the consolidation scope as of May 2024; and (ii) the normalisation of certain non-recurring income items within the SSI Sector, which would have otherwise distorted the comparison between the first and second quarter.

The pro-forma consolidated statements were prepared by applying appropriate adjustments to the data as of 31 July 2024 to retroactively reflect the effects of the acquisition of control of Greensun S.r.l. and its subsidiaries, as well as the normalisation of certain income items in the SSI Sector that would have affected the comparison between the first and second quarters of the year.

The pro-forma consolidated statements have not been audited and are not intended in any way to represent a forecast of future results, and should therefore not be used for such purposes.

The pro-forma data do not reflect prospective data, as they have been prepared solely to represent the most significant, isolable, and objectively measurable effects of the acquisition of control of Greensun S.r.l. and the related financial and economic transactions, excluding any potential impacts resulting from managerial choices or operational decisions that may be taken as a consequence.

The preparation of the reclassified pro-forma consolidated data, drafted exclusively for internal management reporting purposes, does not comply with the Consob regulations governing the preparation of pro-forma financial statements, as they are not applicable in this case.

The pro-forma consolidation of Greensun and its subsidiaries from 1 May 2024 to 31 July 2024, along with the normalisation of certain effects in the SSI Sector, contributed to Group Revenues and Other Income for Euro 45.1 millions, to Group EBITDA for Euro 2.2 millions, to Net Profit for the period for Euro 0,9 millions, and to the Group Adjusted Net Profit for Euro

0.4 millions.

‌Significant events during the period

The Sesa Group operated during the first quarter in line with the guidelines of the new 2026-2027 Industrial Plan, which is oriented towards sustainable growth and focused on organic growth, operational efficiency, and the adoption of digital enablers such as AI, Automation, Vertical Solutions, and Digital Platforms to support the digital transformation of customers and partners.

The first quarter of the fiscal year shows a growth trend in Consolidated Revenues and Other Income, amounting to Euro 845.7 million (+8.0% Y/Y reported and +2.2% Y/Y pro-forma), and in Gross Profit (EBITDA), amounting to Euro 60.7 million (+7.2% Y/Y reported and +4.0% Y/Y pro-forma).

The Net Financial Position was negative for Euro 64.9 million, compared to Euro 38.5 million pro-forma as of 31 July 2024, showing an improvement compared to Euro

74.7 million as of 30 April 2025.

Management activities focused on the organic growth of the Group's core businesses, organizational simplification, and the progressive adoption of AI and Automation.

The growth results achieved in the first quarter of fiscal year 2026 were mainly organic, with a modest contribution from external growth, essentially attributable to the consolidation of Greensun. For this reason, the first quarter 2024 figures have been restated on a proforma basis to allow for a consistent comparison.

The Group's performance benefited in particular from the organic growth of the Business Services Sector, driven

by the development of solutions and platforms for the financial services segment, and from the Digital Green VAS Sector, supported by a normalization of demand and a like-for-like growth of approximately 25% Y/Y in the business market.

The Shareholders' Meeting of Sesa S.p.A., held on 27 August 2025, approved the Integrated Annual Report of the Group as of 30 April 2025 and the related proposal to distribute a dividend of Euro 1.0, in line with the previous year.

The Meeting also approved the renewal of the authorization to purchase and dispose of treasury shares up to a maximum amount of Euro 25 million, compared to Euro 10 million in the previous year. In the extraordinary session, it also approved the cancellation of up to 309,000 treasury shares, equal to 2% of the share capital.

This resolution is a consequence of the new industrial plan, focused on organic growth and cash generation, which enabled an increase in the pay-out ratio, benefiting shareholders, from 30% in FY 2025 to approximately 40% in FY 2026 and 2027.

‌Performance of operations

‌General economic performance

Global economic growth is forecasted at +3.0% in 2025 and +3.1% in 2026, showing signs of overall resilience with a growth trend below historical averages but stable, despite high political uncertainty and increasing trade tensions. Global inflation is expected to decline to 4.2% in 2025 and 3.6% in 2026 (source: IMF - WEO, July 2025).

Emerging markets continue to drive global growth with an average growth of +4.0% over the 2025-2026 period, while growth in advanced economies remains moderate at +1.5% over the same period. In the United States, growth expected for 2025 is 1.9%, down from +2.8% in 2024 due to trade tariffs introduced in the early months

of the year and rising inflation, with risks of economic slowdown (source: IMF - WEO, July 2025).

For the Eurozone, growth is forecasted at +1.0% in 2025 and 1.2% in 2026. Growth forecasts for Italy have recently been revised upwards slightly compared to previous estimates. Italian GDP is now expected to grow by 0.6% over the 2025-2026 period (source: IMF - WEO, July 2025).

The following table shows the actual results for 2019-2024 and GDP growth forecasts for 2025 and 2026 (source: IMF - WEO, July 2025).

GDP worldwide change (actual and forecast)

Percentage Values Change GDP

2019

Change GDP 2020

Change GDP 2021

Change GDP 2022

Change GDP 2023

Change GDP 2024

Change GDP 2025 (E)

Change GDP 2026 (E)

‌Development of demand and trends in the sector in which the Group operates

The global ICT market is characterized by its resilience to crises and growth rates higher than those of the global economy. This is confirmed by its continuous expansion in terms of added value, employment, innovation, and contribution to GDP. After the strong acceleration recorded in 2021 (+13.4%), the ICT market has continued to grow at an average rate of 7.7% over the 2023-2025 period, driven in particular by the Data Center segment (average growth +41.4%) and Enterprise Software (average growth +11.2%).

In 2025, global IT spending will be primarily driven by hardware upgrades related to generative artificial intelligence (GenAI), impacting segments such as data centers, devices, and software. In 2026, spending is expected to continue growing, with a stronger focus on XaaS solutions and optimization of IT infrastructures to support GenAI applications. (Source: Gartner, August 2025)

The Italian Information Technology (IT) market continues its positive growth trend, with average annual rates exceeding pre-COVID levels and national GDP growth. Following the post-COVID rebound in 2021, the Italian IT

market has stabilized with average growth of 3.5%, driven by Management and Development Services.

For the 2025-2026 period, IT demand in Italy is expected to grow at an average annual rate of 3.9%. Within the IT market, the fastest-growing segment is Management Services (+8.6% in 2025 and +8.5% in 2026), which includes digital transformation services and system integration.

This trend reflects ongoing digital transformation processes across both the public and private sectors, the consolidation of Cloud Computing solutions, and the launch of investments in AI projects. Artificial Intelligence, with average annual growth of over 30%, is driving change in production processes, organizational models, and public and private services, and represents the market area with the highest potential, still largely untapped due to low adoption rates. (Source: Sirmi, August 2025)

The following tables present the evolution of the global ICT market (Source: Gartner, August 2025) and the Italian IT market (Source: Sirmi, August 2025) for the period 2020-2024, along with forecasts for 2025 and 2026.

Global ICT market trend

‌Economic highlights of the Sesa Group

Below is the reclassified consolidated income statement (amounts in thousands of Euro) as of July 31, 2025, compared with the corresponding period of the previous year.

For a more accurate analysis of the Group's economic and financial performance, the comparative results as of July 31, 2024 are presented both in the "Reported" version and in the "Pro-forma" version, the latter simulating the consolidation of GreenSun and its subsidiaries starting from May 1, 2024.

In addition to the financial metrics required by IFRS, certain alternative performance indicators, derived from IFRS measures, are also presented. These are provided to enable a better assessment of the Group's performance and, as such, should not be considered as a substitute for those required by IFRS.

costs

intangible assets

how (PPA)

financial expenses

(11)Adjusted Ebit is defined before amortization of intangible assets (customer lists and know-how) recognized following the Purchase Price Allocation (PPA) process, amounting to Euro 8,700 thousand as of July 31, 2025 (+14.7% compared to Euro 7,583 thousand year-over-year). The Adjusted Net Profit and the Adjusted Net Profit attributable to the Group are defined before amortization of intangible assets (customer lists and know-how) recognized following the PPA process, as well as before the cost related to Stock Grant Plans, net of the related tax effect and non-recurring taxes relating to prior periods.

During the first quarter of the fiscal year, Sesa achieved consolidated Revenues and Other Income totaling Euro 845.7 million (+ 8.0% Y/Y), with an Adjusted EBITDA (Operating Profit) of Euro 60.7 million (+ 7.2% Y/Y), an Adjusted Net Profit of Euro 29.8 million (+ 6.4% Y/Y), and an Adjusted Net Profit attributable to the Group of Euro 27.9 million (+ 4.5% Y/Y).

Organic growth for the quarter was + 2.2% Y/Y in Total Revenues and Other Income, + 4.0% Y/Y in EBITDA, and + 2.3% Y/Y in Group Net Profit Adjusted, compared to the pro-forma figures for the quarter ended July 31, 2024, restated to include results from GreenSun S.r.l., acquired in November 2024 and consolidated starting November 1, 2024.

The consolidated Revenues and Other Income show the following trends in the Group's sectors (results compared to the pro-forma first quarter ended July 31, 2024):

• ICT VAS: Revenues and Other Income of Euro 496.8 million (-2.7% Y/Y), with entirely organic revenue trends and progressive recovery since Q4 2025, expected to return to growth starting Q2 2026 following double-digit backlog growth in July and August 2025;

• Digital Green VAS: Revenues and Other Income of Euro 111.4 million (+ 24.7% Y/Y), driven by continued double-digit organic growth in Q4 2025 and positive business market trends fueled by increasing energy demand related to digitalization and AI penetration;

• SSI: Revenues and Other Income of Euro 219.9 million (+ 2.8% Y/Y), despite demand slowdown in certain Made in

  Italy districts and re-engineering activities in some Business Units.

• Business Services: Revenues and Other Income of Euro 36.9 million (+ 3.0% Y/Y), driven by organic growth supported by development of applications for the Financial Services industry, with progressive revenue focus on high-value areas such as Digital Platforms and Vertical Applications, and expected acceleration in subsequent quarters due to acquisition of key client contracts.

  The consolidated Ebitda increased by 7.2% year-over-year, reaching Euro 60.7 million versus Euro 56.6 million as of July 31, 2024, with an Ebitda margin of 7.2%, stable year-over-year, thanks to the growth trend in the Green VAS and Business Services sectors and a substantially stable year-over-year performance in the ICT VAS and SSI sectors.

  Below is the contribution of the Group's sectors to the formation of Ebitda as of July 31, 2025 (results compared to the proforma data as of July 31, 2024):

  • ICT VAS with an Ebitda of Euro 22.2 million (-0.9% year-over-year) and an Ebitda margin of 4.5% as of July 31, 2025, up from 4.4% as of July 31, 2024;

  • Digital Green VAS with an Ebitda of Euro 6.2 million (+17.9% year-over-year compared to the pro-forma data as of July 31, 2024) and an Ebitda margin of 5.6% as of July 31, 2025, versus 5.9% as of July 31, 2024;

  • SSI with an Ebitda of Euro 23.5 million (-2.7% year-over-year compared to the pro-forma data as of July 31, 2024) and an Ebitda margin of 10.7% as of July 31, 2025, versus 11.5% as of July 31, 2024, reflecting the re-engineering activities of some Business Units, with an expectation of Ebitda margin stabilization during FY 2026;

  • Business Services with an Ebitda of Euro 7.3 million (+25.0% year-over-year) and an Ebitda margin of 19.9% as of July 31, 2025, up from 16.4% as of July 31, 2024, supported by the progressive focus of revenues in the value-added areas of proprietary Digital Platforms and Vertical Applications developed in the last two fiscal years.

    The consolidated Adjusted Ebit amounts to Euro 47.3 million, with an increase of 4.2% year-over-year, after depreciation of tangible and intangible assets of Euro 12.7 million (+14.5% year-over-year) and provisions of Euro 0.7 million. The consolidated Ebit amounts to Euro 38.6 million (+2.1% year-over-year), after amortisation of intangible assets related

    to customer lists and know-how recognised following the PPA process of Euro 8.7 million (+14.7% year-over-year due to investments in company acquisitions during the last fiscal year).

    As forecast in the 2026-27 Industrial Plan, Net Financial Charges show a significant decrease of 11.6% compared to July 31, 2025, and 36.4% compared to the last quarter of the fiscal year ended April 30, 2025, thanks to the reduction in interest rates and the efficiency actions in the Group's financial management.

    The Adjusted Net Profit amounts to Euro 29.8 million as of July 31, 2025 (+6.4% year-over-year) and reflects the growth in operating profitability and the reduction of financial charges.

    The Group's Adjusted Net Profit as of July 31, 2025 amounts to Euro 27.9 million, up 4.5% year-over-year compared to Euro 26.6 million as of July 31, 2024 (+2.3% year-over-year compared to the pro-forma quarter ended July 31, 2024). The Reported Net Profit amounts to Euro 23.5 million, up 4.1% compared to Euro 22.6 million as of July 31, 2024.

    ‌Highlights of the Group income statement and balance sheet

    Below is the reclassified consolidated statement of financial position (data in Euro thousands) as of July 31, 2025. Alongside the comparative data for the fiscal year ended April 30, 2025, the data for the period ended July 31, 2024 are also included, presented in both the "Reported" version and the "Pro-forma" version, the latter simulating the consolidation of GreenSun and its subsidiaries starting from May 1, 2024, in order to provide a better analysis of the asset performance.

    07/31/2025		07/31/2024	07/31/2024
    Reclassified Balance Sheet	Reported	Reported	Pro-forma	04/30/2025
    Intangible assets	532,572	490,679	500,073	531,033
    Property, plant and equipment (rights of use included)	163,611	149,227	149,783	167,868
    Investments valued at equity	17,505	24,520	24,520	17,539
    Other non-current assets and deferred tax assets	42,826	44,881	48,667	39,292
    Total non-current assets	756,514	709,307	723,043	755,732
    Inventories	194,659	162,514	178,408	147,590
    Current trade receivables	623,448	548,261	583,930	604,600
    Other current assets	143,599	141,650	147,686	158,529
    Current assets	961,706	852,425	910,024	910,719
    Payables to suppliers	655,761	616,526	646,731	595,063
    Other current payables	267,201	236,722	239,528	287,580
    Short-term operating liabilities	922,962	853,248	886,259	882,643
    Net working capital	38,744	(823)	23,765	28,076
    Non-current provisions and other tax liabilities	142,613	128,679	131,385	143,406
    Employee benefits	66,265	58,643	58,643	64,876
    Non-current net liabilities	208,878	187,322	190,028	208,282
    Net Invested Capital	586,380	521,162	556,780	575,526
    Shareholders' Equity	521,527	496,193	518,252	500,778
    Liquidity and other financial assets	(514,646)	(542,217)	(552,720)	(576,885)
    Current and non-current loans	365,833	358,074	358,074	418,492
    Net Financial Position	(148,813)	(184,143)	(194,646)	(158,393)
    Financial liabilities for rights of use under IFRS 16	53,885	43,921	43,921	57,182
    Liabilities to minority shareholder for equity investments (12)	159,781	165,191	189,252	175,959
    Total Net Financial Position Reported	64,853	24,969	38,527	74,748

    (12)Deferred payables and commitments to minority shareholders for corporate acquisitions (Earn Out, Put Option, deferred prices) not bearing contractual interest and conditional on the achievement of long-term value generation target.

    The balance sheet shows an increase in net invested capital, which pass from Euro 521.2 million as of July 31, 2024 to Euro 586.4 million as of July 31, 2025, primarily due to:

  • an increase in non-current assets, which grew from Euro 709.3 million as of July 31, 2024 to Euro 756.5 million as of July 31, 2025, mainly driven by investments in corporate acquisitions;

  • an increase in net working capital, with a positive balance of Euro 38.7 thousand as of July 31, 2025 compared to a negative balance of Euro 823 thousand as of July 31, 2024, also due to the growth in sales revenues.

The Net Financial Position (NFP) Reported as of July 31, 2025 is negative (net debt) at Euro 64.9 million, compared to Euro 25.0 million as of July 31, 2024 (and Euro 38.5 million as of July 31, 2024 pro forma), showing an improvement compared to Euro 74.7 million as of April 30, 2025, following LTM investments of approximately Euro 12 million and LTM

share buybacks and dividend distributions totaling approximately Euro 30 million.

The Net Financial Position as of July 31, 2025, excluding IFRS liabilities, is positive (net cash) at Euro 148.8 million, compared to Euro 194.6 million as of July 31, 2024. The reported NFP as of July 31, 2025 includes IFRS liabilities amounting to Euro 213.7 million, down from Euro 233.2 million as of July 31, 2024 pro forma, related to deferred payments to minority shareholders for corporate acquisitions and lease liabilities under IFRS 16.

Consolidated shareholders' equity further strengthened during the quarter, amounting to Euro 521.5 million as of July 31, 2025, up from Euro 500.8 million as of April 30, 2025, mainly due to the net profit for the period.

Total Net Financial Position Reported 64,853 24,969 38,527 (74,748)

Result of the ICT VAS Sector

The ICT Value Added Solutions (ICT VAS) sector, which provides value-added technological solutions for the business segment, recorded Revenues and Other Income of Euro 496.8 million during the period (-2.7% Y/Y) and EBITDA of Euro

22.2 million (-0.9% Y/Y). Thanks to its focus on value-added business areas, Computer Gross consolidates its market share in Italy (48% of the total VAS market - Data Center, Networking, and Enterprise Software categories; source: Sirmi, August 2025) in a distribution market characterized by a return to moderate growth following a year of contraction.

Below is the reclassified income statement of the segment (figures in Euro thousands) as of July 31, 2025, compared with the prior period ended July 31, 2024.

The ICT VAS sector recorded Revenues and Other Income of Euro 496.8 million in the quarter (-2.7% Y/Y), with revenue performance entirely organic and progressively recovering compared to the fourth quarter of the previous fiscal year 2025, and an expected return to low-single-digit Y/Y growth starting from the next quarter (Q2 FY2026), also supported by the positive backlog performance in July and August (double-digit growth).

Gross commercial margin increased by 1.5%, rising from Euro 43.4 million (8.5% of Revenues and Other Income) as of July 31, 2024 to Euro 44.0 million (8.9% of Revenues and Other Income) as of July 31, 2025, driven by a more favorable sales mix.

EBITDA amounted to Euro 22.2 million compared to Euro 22.4 million as of July 31, 2024 (-0.9% Y/Y), showing a trend of gradual improvement compared to the -5.8% Y/Y recorded in FY2025. EBITDA margin as of July 31, 2025 was 4.5%, compared to 4.4% Y/Y.

Before amortization of intangible assets (customer lists and know-how) recorded following the PPA process and non-recurring taxes, the Group's Adjusted Net Result amounted to Euro 13.4 million compared to Euro 11.5 million as of July 31, 2024, up 16.6% Y/Y. The net profit trend benefited from a reduction in net financial expenses, which decreased from Euro 5.0 million as of July 31, 2024 to Euro 3.4 million as of July 31, 2025 (-32.0% Y/Y), due to favorable interest rate dynamics and improved foreign exchange management.

Result of Digital Green VAS Sector

The Digital Green VAS segment is active in solutions for the production of energy from renewable sources and energy efficiency, which reduce the environmental impact of organisations, as well as in the management and refurbishment of IT products, including the regeneration and refurbishment of technology assets. In the first quarter ended 31 July 2025, the segment recorded growth in Revenues and Other Income of +151.8% year-on-year (reported) (+24.7% Y/Y compared to pro-forma data) and an increase in EBITDA of 101.2% compared to the same period of the previous year (+17.9% Y/Y compared to pro-forma data).

Below is the reclassified income statement of the Digital Green VAS segment (data in thousands of Euro) compared with the previous period ended 31 July 2024, both in reported and pro-forma versions, including the quarterly results of GreenSun Srl, acquired in November 2024 and effectively consolidated from 1 November 2024, to ensure comparability.

Digital Green VAS Sector 31 July

(Euro thousands) 2025 %

2024

Reported

%

%

Variation

2024

Pro-forma

% %Variation

(13) Pro-forma data as at 31 July 2024 (Q1 2025), restated to include the quarterly results of GreenSun Srl (revenues of Euro 45.1 million, EBITDA of Euro 2.2 million, adjusted EAT of Euro 0.9 million), acquired in November 2025 and effectively included in the consolidation scope from 1 November 2025.

Total revenues and other income as at 31 July 2025 amounted to Euro 111.4 million, showing an increase of 151.8% compared to the previous year. The positive variation in revenues (+24.7% Y/Y compared to the pro-forma data as at 31 July 2024) was driven by the continued double-digit organic growth trend recorded in the final quarter of the previous year and by the favourable performance of the business market, supported in part by the increasing energy demand related to digitalisation and the penetration of AI.

EBITDA amounted to Euro 6.2 million (+17.9% Y/Y compared to the pro-forma data as at 31 July 2024), with an EBITDA margin of 5.6% as at 31 July 2025 vs 5.9% as at 31 July 2024.

Adjusted Net Profit attributable to the Group, stated before the amortisation of customer lists and know-how arising from PPA, amounted to Euro 3.4 million, up 42.7% Y/Y (+4.3% compared to the pro-forma data as at 31 July 2024).

Result of the SSI Sector

The Software and System Integration (SSI) segment, which provides software solutions and technological innovation for the SME and Enterprise markets, recorded a 2.4% increase in Revenues and Other Income, and a 4.4% decrease in EBITDA (EBITDA margin declined from 11.7% as of July 31, 2024 to 10.5% as of July 31, 2025).

Below is the reclassified income statement for the SSI segment (figures in Euro thousands) as of July 31, 2025, compared with the prior period ended July 31, 2024, both Reported and Pro-forma14.

SSI sector

31 July

(Euro thousand)

2025

2024

%

% Varation

2024

% Varation

Costs for services and for rent, leasing, and similar

(48,229) -21.9% (50,846) -23.7% -5.1% (50,846) -23.8% -5.1%

(14)Pro-forma data as of July 31, 2024 (Q1 2025) include the normalization of certain non-recurring income, with an impact on revenues and EBITDA of Euro 0.4 million.

The SSI secotr recorded consolidated Revenues and Other Income of Euro 219.9 million during the period under review, marking an increase of 2.6% compared to the first quarter ended July 31, 2024, with a 4.4% decrease in EBITDA and an EBITDA margin of 10.7%.

Revenue growth occurred in an unfavorable context marked by a slowdown in demand and investment in certain key Made in Italy industrial districts, as well as by re-engineering activities affecting certain business areas and Business Units. Revenue performance was supported by changes in the scope of consolidation, particularly through recent corporate acquisitions such as Innofour, Delta Informaciones, Visicon, Metisoft, and IT Pas.

EBITDA amounted to Euro 23.5 million, down 4.4% year-over-year, and reflects, in addition to the revenue dynamics mentioned above, investments in human capital and technology platforms aimed at enhancing operational efficiency and accelerating growth expected from the second half of fiscal year 2026, in line with and in execution of the 2026-27 industrial plan.

The Adjusted Net Result attributable to the Group, stated before the amortization of customer lists and know-how arising from Purchase Price Allocation (PPA), amounted to Euro 7.1 million, down 30.8% year-over-year. This decrease is mainly due to higher depreciation and amortization of tangible and intangible assets (Euro 13.9 million, +15.2% Y/Y), provisions of Euro 0.4 million, and net financial expenses of Euro 2.6 million (+25% Y/Y), following the increase in financial debt during the period.

The Net Result attributable to the Group as of July 31, 2025, after amortization of customer lists and technological know-how (amounting to Euro 5.1 million), stood at Euro 3.5 million, representing a decline of approximately 50% Y/Y.

Result of Business Services Sector

The Business Services segment, which provides digital platforms and vertical applications for the Financial Services industry, is accelerating its growth path thanks to the development of revenues from applications and platforms. As of July 31, 2025, the segment recorded Revenues and Other Income of Euro 36.9 million, up 3.0%, and EBITDA of Euro 7.3 million, up 25.0% (EBITDA margin at 19.9%, compared to 16.4% Y/Y).

Below is the reclassified income statement for the Business Services segment (figures in Euro thousands) as of July 31, 2025, compared with the prior period ended July 31, 2024.

The Business Services segment recorded Revenues and Other Income of Euro 36.9 million (+3.0% Y/Y) during the period, continuing its growth, entirely organic, supported by the development of applications dedicated to the Financial Services industry with a progressive focus of revenues on the value-added areas of Digital Platforms and Vertical Applications, with an expected acceleration in the following quarters thanks to the acquisition of some contracts with major clients.

EBITDA reached a total of Euro 7.3 million, a significant increase (+25.0% Y/Y) compared to the first quarter ended July 31, 2024, with an EBITDA margin of 19.9% as of July 31, 2025, compared to 16.4% as of July 31, 2024. This improvement is due to the progressive focus of revenues on the value-added areas of proprietary Digital Platforms and Vertical Applications developed over the last two fiscal years.

Before amortization of intangible assets (customer lists and know-how) recorded following the Purchase Price Allocation (PPA) process and non-recurring taxes, the Group's Adjusted Net Result amounted to Euro 3.4 million, compared to Euro

2.6 million as of July 31, 2024 (+31.7% Y/Y). This is after financial expenses increased from Euro 0.7 million as of July 31, 2024 to Euro 1.0 million as of July 31, 2025 (+54.2% Y/Y), following higher indebtedness due to investments made in business development over the past 12 months.

Result of the Corporate Sector

The Corporate Sector is engaged in strategic governance and the management of corporate services (administration, finance, control, human resources management, information systems, and operational platforms) in support of the Group's companies. Recently, the Corporate Sector, which already includes the activities of the Customer Experience Business Unit Adiacent, has expanded to incorporate the IT Services offering from the scope of ISD Italy and its subsidiaries. During the fiscal year, operational and corporate integration processes and organisational safeguards have been further strengthened and implemented to support the Group's sustainable growth path.

The reclassified income statement of the Corporate Sector (amounts in Euro thousands) as at 31 July 2025 is presented alongside the prior period ended 31 July 2024.

The Corporate Sector's total revenues and other income, amounting to Euro 16.2 million, show an increase compared to the previous period (+62.6% year-on-year) thanks to the development of corporate services (organisation, administrative and financial management, planning and control, human resources management, corporate governance, legal and IT services) and to the change in the scope of consolidation following the inclusion, from the second half of the previous financial year, of IT technical assistance and information technology system services for companies and public entities provided by ISD Italy and subsidiaries. Operating profitability (EBITDA) as at 31 July 2025 amounts to Euro 2.4 million, up 111.3% compared to 31 July 2024.

The net profit for the period is positive at Euro 392 thousand as at 31 July 2025, compared to a negative result of Euro 75 thousand as at 31 July 2024. The Group's adjusted net profit, before non-monetary costs related to amortisation of customer lists and know-how, is positive at Euro 482 thousand as at 31 July 2025, compared to a positive result of Euro 208 thousand as at 31 July 2024.

‌Governance Model

Sesa adopts a governance model aimed at promoting the creation of sustainable value in the long term and fostering virtuous collaboration between the company and its stakeholders. The Group's objective is to pursue sustainable success through the creation of long-term value for the benefit of all stakeholders, as also formalized in the company's Articles of Association. Moreover, Sesa operates within the framework of the United Nations Universal Declaration of Human Rights, the fundamental ILO Conventions, and in accordance with its own Code of Ethics, which is also an integral part of the organizational model pursuant to Legislative Decree no. 231/2001.

Specifically, since 2021, Sesa has adopted a one-tier system of administration and control, which involves the appointment, by the Shareholders' Meeting, of a Board of Directors responsible for the management of the company. The Board appoints an internal management control committee that oversees the proper exercise of administration. The Board of Directors leads the company, pursuing sustainable success also through defining the Group's company strategies. On this matter, it is noted that on July 12, 2022, following the work carried out during the last fiscal year by the Corporate Sustainability Operational Committee, the Board of Directors established an internal Sustainability Committee with advisory and propositional functions to support the Board and the CEO in sustainability matters. The Shareholders' Meeting is the body where the company's will is formed and expressed, subsequently implemented by the Board of Directors. It is composed of the shareholders who periodically meet to deliberate according to procedures and on matters defined by law and the company's Articles of Association. Among the most important duties of the Shareholders' Meeting are the election of the members of the Board of Directors and the Management Control Committee, as well as the approval of the Financial Statements and Consolidated Financial Statements.

directors and 6 non-executive directors, of whom 5 are independent. The Board is also responsible for defining the Code of Ethics, the values, and the preparation of this Quarterly Report, which illustrates policies, risks, and performance related to financial, environmental, personnel, social, human rights, and anti-corruption issues. The composition of the Board complies with the currently applicable regulations regarding gender balance (out of ten members, four are women, all independent). The average age of the Board members is 55 years. As a best practice, the roles of Chairman of the Board and Chief Executive Officer are separated.

The Chief Executive Officer, represented by Dr. Alessandro Fabbroni, is responsible for the operational and financial management of the company, as well as implementing strategic guidelines.

Within the Board, Sesa has also established three internal committees: Remuneration, Control and Risks, and Sustainability. These internal committees are constituted in accordance with the recommendations of the Corporate Governance Code.

strategic plan, also based on the analysis of key topics for long-term value creation.

The composition of the management and control bodies in Sesa SpA complies with applicable legal requirements, with specific reference to adequate gender balance. For information and further details regarding the structure and functioning of corporate bodies, governance practices, and the activity of the internal committees, please refer to the "Report on Corporate Governance and Ownership Structure," published pursuant to article 123-bis of the TUF on the website https://www.sesa.it, in the "Corporate Governance" section.

‌Long-term sustainable value creation

Sesa's business model is based on sustainable growth, transparency, the enhancement of talents and diversity, environmental protection, and the generation of value for stakeholders. The industrial development plan and ESG objectives coexist and are interconnected in order to make a concrete contribution to achieving the United Nations Sustainable Development Goals.

Sesa's corporate governance structure is aligned with national and international best practices and complies with the principles set out in the Corporate Governance Code (formerly the Self-Regulation Code) for listed companies.

Sesa's business model aims to create sustainable and shared value over time for all stakeholders.

In line with this evolution, Sesa pursues an integrated approach to value creation, developing a virtuous cycle between the company's mission and value generation for stakeholders. In particular, the commitment to articulate an innovative and distinctive offering has led Sesa to develop an integrated shared value creation model, achieved by enhancing:

• human capital, enabling people to progressively improve skills and understanding within the Group's strategy;
• social and environmental capital, monitoring and reducing the impact of its activities on environmental resources and on the communities where the Group operates;
• relational capital, sharing values, behaviors, and relationships with its partners, suppliers, and stakeholders;
• organizational and financial capital, to enhance the development of its services through research and innovation processes along the entire value chain.

  Sesa's business model is based on this strategic orientation and aims at the creation and distribution of sustainable value in response to the global challenges defined by the 17 United Nations Sustainable Development Goals, to which the company contributes concretely.

  ‌People

  As of July 31, 2025, the Group's workforce reached a total of 6,593 people (including employees and interns of the companies within the scope of consolidation), representing an increase of 520 units (+8.6% compared to July 31, 2024), thus confirming the long-term growth and development trend that has characterized the Sesa Group since its foundation. Human capital represents a core value of the Sesa Group and the most important stakeholder in terms of value creation and distribution. The skills and expertise of the Group's people are the foundation of its ability to deliver innovative technological and digital solutions to support businesses and organizations.

  Average number of employees for the period ending 31 July Number of employees as of 31 July Number of employees as of 30 April

  (in units)	2025	2024	2025	2024 2025
  Executives	88	76	91	81 85
  Middle Management	592	500	594	520 590
  White collar	5,644	5,127	5,684	5,291 5,604
  Blue collar	167	121	164	123 170
  Trainees (13)	72	60	60	58 83
  Total	6,563	5,884	6,593	6,073 6,532

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  The Sesa Group promotes programs and initiatives aimed at developing professionalism and diversity, while also improving the well-being and quality of working life of its human resources. Distinctive values such as integrity, fairness, care for people, inclusion, and sustainability guide the Group's strategy.

  As of July 31, 2025, female employment represents a significant component, accounting for 32% of the total workforce, reflecting the Group's growing commitment to gender equality policies in a sector characterized by a structural underrepresentation of women in technical-scientific roles.

  The Group supports the growth of its people through long-term professional development and retention paths (training, career planning, work-life balance initiatives, and corporate welfare), implementing a policy of permanent employment. As of April 30, 2025, 98% of the total workforce is employed on a permanent basis, selected mainly through targeted hiring plans focused on young high school and university graduates.

  ‌Hiring

  The Sesa Group has always been committed to attracting and identifying talented individuals who stand out for their technical skills, passion, dynamism, and drive for innovation, in alignment with the Group's values.

  Work quality, the opportunity to contribute to innovative projects while valuing diversity and individual capabilities, along with the Group's commitment to sustainable development, are key elements in the talent attraction process, particularly for younger generations.

  Over the past 12 months, 842 new people have joined Group companies, 57% of whom are young talents under the age of 30, coming from universities and training institutions.

  Each year, the Group offers numerous internship opportunities, giving younger individuals the chance to get to know the company environment and gain training experience, including through school-to-work programs. As of July 31, 2025, there are 60 active internships, including both curricular and extracurricular placements. The total number of apprentices engaged in training and professional development programs amounts to 463 as of July 31, 2025.

  ‌Training and Development of resources

  Training represents a key element in the process of valuing people and is also a strategic tool to align the Group's professional skills with market developments, business needs, and regulatory requirements. In the fiscal year ended April 30, 2025, we further strengthened our commitment to our people by launching increasingly widespread training programs, reaching a total of 117,227 training hours-an increase of 20% compared to the previous year.

  Training activities focused on several key areas: ESG (Environmental, Social, and Governance), essential for adopting sustainable and responsible practices; Soft Skills, such as leadership, business partnership, and interpersonal competencies; and Digital Technologies, to foster the adoption of innovations in the digital sector.

  Training programs also include a significant component managed by the parent company's training office, covering specific topics such as Personal Data Protection (GDPR - General Data Protection Regulation), Cyber Security, and Workplace Safety. These were also delivered via digital e-learning platforms, enabling the involvement of an increasing number of participants.

  The training plans were developed in compliance with the PdR 125:2022 guideline, ensuring fair and equal access to all training programs, with the aim of fully promoting and valuing each individual.

  28

  ‌Health and Safety

  The Sesa Group ensures working conditions that respect individual dignity and safe, healthy workplaces, in full compliance with current legislation on accident prevention and worker protection. The Group conducts a risk assessment in accordance with Legislative Decree 81/08, formalized in the Risk Assessment Document (Documento di Valutazione dei Rischi - DVR), where health and safety risks are evaluated and identified, and also assesses labor law-related risks based on applicable regulations concerning relationships with employees and collaborators.

  An annual "Management Review" is conducted, in compliance with Article 35 of Legislative Decree 81/08, attended by the employer, workers' safety representatives, heads of the prevention and protection service, and the manager responsible for the quality, environment, and safety management system.

  The Sesa Group has defined a framework to improve safety, reduce workplace risks, and support the health and wellbeing of workers, in accordance with the international reference standard ISO 45001. This approach has enabled the Group companies to enhance their health and safety performance. To date, in addition to Sesa S.p.A., the companies Var Group S.p.A., ICT Logistica S.r.l., and BDS S.p.A. have obtained ISO 45001 certification, audited by an independent third party for their occupational health and safety management systems, covering 90% of the Group's locations.

  The health and safety management systems are periodically verified by internal control bodies and independent third parties. All inspections are carried out in compliance with international auditing principles. Audits are performed following the ISO 19011 guidelines to ensure that audits serve as a useful tool to provide information on which the organization can act to improve its performance.

  The well-being, health, and safety of human resources are among the top priorities of the Sesa Group. A specialized team (HR Team, RSPP-Prevention and Protection Service Manager, Competent Medical Officer, Workers' Safety Representatives, Emergency Officers) ensures a safe and regulatory-compliant working environment, defines guidelines, coordinates monitoring activities, and, where necessary, improvement programs for safety conditions.

  Measures implemented to eliminate or contain risks include health and safety training programs tailored to the specific risks and professional profiles present in the company, provision of individual and collective protective equipment, as well as organizational provisions necessary to guarantee maximum safety for workers within the workplace.

  It is noteworthy that in the fiscal year ended April 30, 2025, there was a low number of accidents, almost all occurring during the commute (in itinere) and mostly minor in nature. The workplace accident rate is 3.38, calculated as the number of accidents divided by total hours worked, multiplied by 1,000,000. There were no fatalities or occupational diseases reported during the fiscal year.

  29

  ‌Welfare

  The Sesa Group is constantly committed to identifying concrete initiatives aimed at promoting and enhancing the wellbeing of its people through a comprehensive Welfare plan characterized by a strong focus on value distribution. In perfect harmony with the mission, principles, and core values of the Sesa Group, this program offers a wide range of services and initiatives designed to improve quality of life, foster a better work-life balance, and promote the well-being of its people.

  • People's well-being and work-life balance: Activities promoting sports and wellness programs, including a dedicated digital platform for well-being, contributions for sports activities, psychological assistance and listening services, health packages for reimbursement of medical expenses, flexible benefits to supplement family expenses, cultural, leisure, and wellness activities, as well as corporate microcredit programs for access to subsidized loans.
  • Parenting, inclusion, diversity: Support in different stages of children's lives, such as birth grants, babysitting services, nursery school contributions, grants for participation in summer camps, and scholarships for purchasing school books and IT equipment. Inclusion and diversity initiatives also include financial support for healthcare and social assistance for family members with disabilities.
  • Environmental sustainability: Contributions dedicated to sustainable mobility for the use of public and electric transportation, and E-Car and Bike Sharing programs aimed at reducing the consumption of natural resources with the goal of preserving and respecting the environment.
  • Education: Contributions for purchasing IT equipment, scholarships for participation in university degree courses and master's programs, purchase of educational textbooks, and extensive training and international Erasmus programs.

  The initiatives and services are accessible through an advanced technological platform equipped with a virtual assistant to support employees. The welfare plan is also supported by the Sesa Foundation, a non-profit organization established by Sesa's founding shareholders in 2014 with the aim of creating a structure dedicated to social solidarity and philanthropy activities in the territories where the Group's companies operate. Among these initiatives is the management of the Sesa Baby corporate nursery at the Empoli Technology Hub, which this year doubled its capacity to welcome over 50 children.

  ‌Segment Information

  The criteria applied to identify the business segments reported are in line with the methods used by management to manage the Group. In particular, the structure of the business segments reported corresponds to the structure of the reports regularly analysed by the Board of Directors for the purposes of managing the Group's business. Specifically, the main dimension of management analysis used by the Group is that relating to the following operating segments:

• the Corporate Sector comprises activities related to the strategic governance and management of the Group's operating machinery and financial platform, centralised within Sesa SpA. For the main operating companies of the group in particular, the Administration, Finance and Audit, Human Resources, Organisation, Information Technology, Investor Relations, Corporate Governance, Legal and Internal Audit functions are managed by the parent company, Sesa SpA. Recently, the Sector has expanded its operations to include the development of technological and customer experience application solutions through Adiacent SpA, as well as IT and systems technical support services (Digital Services) within the Digital Services business unit through ISD Italy and its subsidiaries.