2025 03 28 TPS The Board of Directors approves Draft Financial Statement 2024

Technical Publications Service S.p.A.

• ● PRESS RELEASE ●

TPS GROUP: ORGANIC REVENUE GROWTH OF 8.3% IN 2024

The Board of Directors approves the draft statutory financial statement and the consolidated financial statement of the group as at 31st December 2024 and proposes the distribution of a dividend of EUR 0.08 per share

•  Revenue: EUR 52.3 million

•  EBITDA: EUR 9.1 million

•  Adjusted net profit: EUR 4.9 million

•  Net financial position: EUR (18.8 million) before application of the principle IFRS16

Gallarate (VA), 28 March 2025 - TPS S.p.A. (TPS: IM), operational holding of the TPS Group, leading company in technical services and engineering for the aeronautical and automotive industry ("TPS", or "Company" or "Issuer") would like to inform you that on this day, the Board of Directors approved the Consolidated Financial Statement of the Group and the draft Statutory Financial Statement of TPS S.p.A. for the financial period ending at 31st December 2024.

The Board of Directors also voted to propose to the Shareholders' Meeting, convened for 29th April 2025 at first call and, if necessary, for 30th April 2025 at second call, the distribution of a gross dividend of EUR 0.08 for each share in circulation (excluding treasury shares in portfolio) according to the following calendar: dividend yield date (so-called ex-date) 5th May 2025, date of legal entitlement to the dividend (so-called record date) 6th May 2025 and date of payment of the dividend (so-called payment date) 7th May 2025.

Please note that the previous date for the Shareholders' Meeting scheduled for 28th April 2025 has been changed to 29th April 2025 on first call. The Company will make the necessary changes to the calendar of events available on the websitewww.tps-group.it.

Main consolidated results as at 31 December 2024

The consolidated financial statement was drawn up on the basis of the financial statement of the Issuer, closed at 31st December 2024 as well as other companies in the group falling within the consolidation perimeter, including Air Support International S.r.l., Aviotrace Swiss SA, EMTB S.r.l., Fore S.r.l., Fore Poland sp. z.o.o., HB Technology S.r.l., HB Aerospace Center Inc., Omniaproject Engineering S.r.l., Satiz Technical Publishing & Multimedia S.r.l., S.Te.L. S.r.l. and Stemar Consulting S.r.l.

Revenues are EUR 52.3 million, up +8.3% compared to the EUR 48.3 million of 2023.

In 2024, the TPS Group is structured into an organisation that works across the individual companies and is based on 5 strategic business units: (i) Technical Publishing & Training, (ii) Design & Cost Engineering, (iii) Avionic Services & Information Technologies, (iv) Production e (v) Digital Content Management.

EBITDA for 2024 is EUR 9.1 million, an increase of 5% compared to 2023, for a margin EBITDA of 17.4%. EBIT, at EUR 6.7 million, was in line with the previous year.

Adjusted Net Profit, considered net of extraordinary charges related to the digital content management activities reorganisation costs and the partial reconversion of the automotive engineering area, amounted to EUR 4.9 million (EUR 4.8 million as of 31st December 2023).

The Net Profit is EUR 4.5 million, of which EUR 4.2 million is attributable to the Group. Net profit increased by 26% over the previous year (EUR 3.6 million).

The consolidated net financial position before application of IFRS 16 increases from Euro (13.7) million in 2023 to Euro (18.8) million in 2024. Following the impact of the above mentioned principle on the rights of use and leasing, NFP passes to EUR (16.4) million compared to EUR (10.6 million) for the 2023 financial year. The result is the consequence of the generation of cash flow and the reduction in working capital, net of cash-outs for investments.

Main results for TPS S.p.A. as at 31st December 2024

Earnings are EUR 24.7 million and show growth of over 10% compared to the EUR 22.4 million of 2023, for higher volumes of technical and design services provided to the aeronautical industry.

Due to labour cost growth dynamics, EBITDA amounted to Euro 4.4 million (Euro 4.6 million in 2023), with an EBITDA margin of approx. 18%. EBIT is Euro 3.5 million (Euro 3.9 million in 2023).

The Net Profit, amounting to Euro 2.9 million, was substantially in line with 2023.

The Net financial position is Euro (13.9 million) compared to the Euro (9.9 million) as at 31 December 2023. The increase in liquid assets is the result of operating cash flow generation and the reduction in working capital, net of investments made during the year.

Business Outlook

The 2024 financial year confirmed the growth of the TPS Group, which strengthened its industrial strategies and extended its range of action to new engineering fields, including the production of parts and components for the aeronautical sector.

During the year, the Group's management has focused on integrating the companies acquired in 2023, especially in the reorganisation of the Faggiano (TA) plant, which became the Group's production centre, as well as on reviewing the organisation of aeronautical engineering activities from both a technical and commercial perspective.

In 2024, the TPS Group continued investing in the development of new technological solutions and also continued the activities of the TPS Training Academy, established in 2021, which during the period has provided several specific training courses addressed to recent science graduates, to help them acquire the necessary skills to work effectively in teams.

In March 2025, the subsidiary Aviotrace Swiss SA set up a new company in Morocco (Aviotrace Morocco Inc.) with the aim of extending the provision of technical training courses for aeronautical maintenance engineers and technicians to North Africa. The company is 100% owned by Aviotrace Swiss SA.

As a result of the investments made in recent years and the dynamic commercial activity developed in 2024, forecasts for 2025 indicate further organic growth in our activities. Specifically, growth is expected in the engineering and design sectors, in avionics development and in the production of aeronautical parts and components. Furthermore, moving into the industrial automation sector and strengthening our presence in the energy sectors represent further factors for potential growth.

At the same time, the Group will continue its search for new opportunities for industrial integration, assessing situations that can bring strategic skills to its value chain for the benefit of its customers.

Allocation of net profits

The financial statement as at 31st December 2024 for TPS S.p.A. shows a profit of EUR 2,931,962.

The Board of Directors has decided to submit the proposal to the Shareholders' Meeting to allocate the profit for the financial period as follows:

• - distribution of a gross dividend of Euro 0.08 for each ordinary share in circulation at the ex-dividend date, thus excluding treasury shares in portfolio at that date.

• - extraordinary reserve for the difference between profit for the financial period and the total amount for the dividend paid out.

Verification of independence requirements for independent directors

The Board of Directors, in compliance with the provisions of Article 6-bis of the Euronext Growth Milan Issuers' Regulation and in accordance with the "Independence Policy" approved on 26th March 2024, verified, with a positive outcome, the existence of the independence requirements for the current independent directors, Stefano Pedrini and Raffaella Pallavicini.

Convocation of the Ordinary Shareholders' Meeting

During today's meeting, the Board of Directors of TPS resolved, inter alia, to convene the ordinary Shareholders' Meeting of TPS for the 29th April 2025 (first call) and, if necessary, for 30th April 2025 (second call), to decide upon the following:

• 1. Approval of the Financial Statement of TPS S.p.A. at 31st December 2024, and presentation of the consolidated Financial Statement for the Group at 31st December 2024: and distribution of profit for the period. Relevant and ensuing resolutions;

• 2. Confirmation of the appointment of an auditing firm, pursuant to Art. 13 of Lgs. Decree 39/2010. Relevant and ensuing resolutions.

The convocation notice will be published in the Investor Relations, Meetings section of the Issuer's websitewww.tps-group.it and in the Gazzetta Ufficiale of 12 April 2025.

Documentation requested by current laws concerning the above mentioned subjects will be deposited at the registered offices of the Company and at the same time, made available in the Investor Relations, Meetings section of the Issuer's websitewww.tps-group.it and in the Shares/Documents section of the website www.borsaitaliana.it within the terms set by law.

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The following section contains reclassified data for the Income Statement, Balance Sheet and Cash flow Statement as at 31 December 2024 (both consolidated and from the accounting period for TPS). The data are currently undergoing certification by the appointed Auditing Firm.

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This press release is available on-line atwww.tps-group.it (Investor Relations/Press Releases section)

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TPS S.p.A. is the operating holding company of TPS Group, a leader in technical and engineering services for the aeronautical industry, with a particular focus on the helicopter segment. TPS has been a Borsa Italiana "Elite" company since 2016.

TPS Group operates in the aeronautical, automotive, defence, railway, naval and cable transport systems sectors, providing Technical Publishing & Training, Engineering, Design and Cost Engineering, Avionic Software Development and Systems Integration, Digital Content Management TPS Group's clients include leading businesses in the design and production of aircraft and aeronautical components, as well as leaders in the automotive, railway, defence and cable transport systems manufacturing sector.

ISIN code for ordinary shares: IT0005246142 - Ticker for ordinary shares: TPS:

For more information:

Consolidated economic, financial and operational data TPS GROUP

Consolidated financial

Consolidated Financial Statement

Financial period

Operations, net assets and financial data of TPS S.p.A.

Financial Statements

Financial

Cashflow Statement for TPS S.p.A.

Financial period