Rimini , August 6th, 2026
Analyst Call
Financial
Results 1H26
Agenda
Business
Performance
Financial
PerformanceFinancial Results 1H26 Agenda 51 2 3 4
ChapterChapter
Chapter
Chapter
ChapterChapter
3
Chapter
4
Appendix3
Business
Performance
Corrado Peraboni
1. Business Performance Financial Results 1H26
163 M€
REVENUES
+ 9% YoY129.9 M€
NFP
Adj FCF: +2,2 M€
Net SQM* Visitors*47.8 M€
Adj EBITDA
+ 22% YoY
10 Countries Worldwide~ 600 k ~ 7.4 kprice100% FY26 Booking vs Target Net SQM~ 290 k22.7 M€
NET RESULT
+34% YoY
Stock
performance
+ 93% 1H26
+ 13% 2Q26Revenues growth on high profitable lines drives to high margin performance.
NFP peak due to seasonality, expansion capex (as expected) and growth in “Non Monetary” elements.
+3% +6%Exhibitors*
+13% 1H26 Highlights
* data referred to Organised Events Segment 4
Expansion of
Vicenza
venue has
been
completed.
Organised Events 101.2 86.9 + 17% Congress 11.7 14.2 -18% Publishing, Sport & Others 2.0 2.5 -20% Total 162.8 1 49.3 +9% Services 43.8 42.2 +4% Hosted Events 4.1 3.5 +16% 1H26 Revenues by Line of Business 58%28%10%2% 2%32 299955 592 2 Organized Events Hosted Congress Other EventsNumber of Events #98 Organised Events +17% YoY as result of positive effect both of organic growth - driven mainly by volumes and then price – and a change in scope (first editions of Venditalia , NIS, and Fenagra in 2nd Q) Organised Events at 62% of consolidated revenues (+4pp) in line with our strategic growth's driver focusing on LoB with higher profitability Services +4% carried over by organic growth on Organised Events and afflicted from negative change Usd/Eur Congresses losses 3pp on total revenues . Not such heavy impact on line’s margin thanks to different mix of events, more profitable in 1H26#991H26 1H25Δ%
62%27%7%3%1%1H26
1H25 1H26 1H25+3 on core business1. Business Performance Financial Results 1H26 5
1. Business Performance Financial Results 1H26 2Q26 Business Update First edition managed by IEG.
300 exhibiting brands .
40% international visitors .
400 exhibiting brands ( 40% international brands) .
190,000 sqm .
+15% total visitation (+ 25% international visitors) vs previous year .
120 foreign buyers from 36 countries .MAIN EVENTS HELD IN ITALY 20° ed.
14° ed.
OTHER EVENTS HELD IN 2Q26
6 45°
ed.
350 exhibiting brands .
+6% international brands .
364 foreign buyers from 59 countries .MAIN EVENTS HELD ABROAD 250 exhibiting brands .
+140% total visitation vs previous year 1,500 congress meeting .
190 exhibiting brands .
+43% total visitation vs previous year 600 congress meeting .
150 exhibiting brands .
+20% total visitation vs previous year 200 speakers .
Continuous organic portfolio development1. Business Performance Financial Results 1H26 7 2024 2025 2027 2028 2029 2030 2026 (O) = Organized Event (H) = Hosted Event(O)
(O) (O)
(O)
(O) (O) (O) (O)
(O) (H)
(O)
(H) (H) TBA
TBA (O)
(H) (H)
(O) (O) TBA (O) TBA (O)
Financial
Performance
Carlo Costa
2. Financial Performance Financial Results 1H26
1H26 P&L vs 1H25
Revenues
At 162.8 M€, up 9.0% vs 1H25 thanks to an organic growth, of 6.9 M€, related to volumes on organised events and price contribution, and 5.5 M€ in change of perimeter and 2.0 M€ due to calendar effect . Negative FX change of -0.9 M€.
Contribution margin
At 76.6 M€ improving +16.2% vs 1H25 following both organic and scope growth, mainly on Organised events .
Adjusted EBITDA
At 29.4% (+3.2 pp YoY), improved profitability driven by core portfolio growth . Structure costs increases of 3.9 M€
Net Result
At 22.7 M€ (14.0% on Revenues), up 5.8 M€ vs 1H25 benefiting from a non-recurring reversal of risk provision and applying a planned tax rate of 32,0%.
9
1H26 %1H25
Restated% Change % Revenues 162,8 149,3 13,5 9,0% Operating costs (86,2) -53,0% (83,4) -55,9% (2,8) 3,3% Contribution Margin 76,6 47,0% 65,9 44,1% 10,7 16,2% Personnel (29,0) -17,8% (27,0) -18,1% (2,0) 7,4% Not recurring EBITDA items 0,2 0,2% 0,3 0,2% (0,0) n.a.
Adjusted EBITDA 47,8 29,4% 39,2 26,2% 8,6 22,0% D&A, w/off (11,5) -7,1% (10,1) -6,8% (1,4) 14,3% Not recurring EBIT items (0,0) 0,0% 0,0 0,0% (0,0) <(100%) Adjusted EBIT 36,3 22,3% 29,1 19,5% 7,2 24,7% Not recurring items (0,2) -0,1% (0,3) -0,2% 0,1 n.a.
Net Financials (2,6) -1,6% (2,8) -1,9% 0,2 (7,4%) Profit before Tax 33,4 20,5% 26,0 17,4% 7,4 28,6% Taxes (10,7) -6,6% (9,0) -6,0% (1,7) 18,6% Net Result 22,7 14,0% 16,9 11,4% 5,8 34,0% Tax Rate -32,0% -34,7% 2,7%
39,2 42,8 47,8 7,0 ( 3,4 ) 0,0 1,3 0,1 3,6 2. Financial Performance Financial Results 1H26 1H26 vs 1H25 Adj EBITDA bridge
Adj.EBITDA
Margin:
26.2%Adj.EBITDA
Margin:
29.4%
1H25 EBITDA
AdjOrganic Perimeter Calendar Structure FX 1H26 EBITDA
Adj1H26 EBITDA
Adj LfLAdj.EBITDA
Margin:
27.6 %
10Quarter Calendar
Shift
2. Financial Performance Financial Results 1H26 1H26 Balance Sheet Net Invested Capital Fixed Assets at 357.1 M€ increasing by 30.5 M€ due mainly to 27.8 M€ of investments and M&A and to the registration of new right of use for new rent deals (IFRS 16).
NWC negative of 47.9 M€, reflecting the typical Q2 seasonal pattern, driven by lower advance payments vs year -end.
Net Financial Position Total NFP at 129.9 M€, falls by 39.5 M€. The «Monetary» component takes up resources by 28.4 M€ due to 27.8 M€ of investments and M&A, dividends paid for 6.1 M€, but with 8.3 M€ of resources from the operating .
«Non - Monetary» worsens by 11.1 M€ as consequence of the subscription of new rent deals, the extension of a lease agreement and an a new put option .
11
Jun 30
2026Dec 31
2025
RestatedChangeChange
% Total Fixed Assets 357,1 326,5 30,5 9,4% Trade receivables 51,2 44,8 6,5 14,5% % on 12m rolling sales 18,3% 17,0% 1% Inventories 1,1 1,0 0,1 7,7% % on 12m rolling sales 0,4% 0,4% 0,0% Trade payables (54,7) (58,1) 3,4 -5,8% % on 12m rolling sales -19,6% -22,0% 2,4% Trade Working Capital (2,4) (12,3) 9,9 -80,3% % on 12m rolling sales -0,9% -4,7% 3,8% Other Current Assets/Liabilities (45,5) (59,5) 14,0 -23,5% Net Working Capital (47,9) (71,8) 23,9 -33,3% % on 12m rolling sales -17,1% -27,2% 10,1% Other Non-Current Liabilities (7,1) (7,9) 0,8 -10,6% Net Invested Capital 302,1 246,8 55,3 22,4% Net Financial Position 129,9 90,4 39,5 43,7% Net Equity 172,2 156,4 15,8 10,1% Total Sources 302,1 246,8 55,3 22,4%
(63,2)
(3,0)(1,5)
(11,3)
(22,5)
(5,3)
(26,4)
(6,1)
(11,2) 0.02. Financial Performance Financial Results 1H26 1H26 vs FY25 NFP and Cash Flow
31 Dec
2025Adj
EBITDA∆ WC
& OthersCapex M&A
Investments30 Jun
2026∆ Not
Monetary
ItemsTaxes Net
Financials(90.4)
(129.9 )(34.8)-39.5 M€Monetary NFP
FCF -16.9 M€
DividendsAdj. FCF +2,2 M€
27,8M€
Total
Investments
Treasury
Shares Buy
BackLease
12(55.6)
(66.7)47.8
2. Financial Performance Financial Results 1H26
13REVENUES
ADJ. EBITDA
NFPTARGET 2030 FY 2025 FY 2026E
(updated guidance 1H26)
-44 €M 90.4 €M 85-95 €M360/365 €M 293/298 €M
100/105 €M
28%-29%80/83 €M
27% - 28%Margin 70.9 €M
26.6%Outlook FY26
Guidance
Based on the results achieved in the first half of the year and current evidence of business performance in the second half, the Company expects to achieve overall results above the originally set targets for the current year . Despite ongoing tensions in the Gulf region, the situation in the Middle East has led management to postpone the second edition of "My Plant & Garden Middle East" to 2027 . The "Dubai Muscle Show" event and the joint venture with Informa Market, "JGT" (Jewelery , Gems & Technologies), are currently confirmed, albeit with lower targets . Based on these considerations, the Company is nevertheless revising its guidance for the 2026 financial year upwards, setting new target ranges of €293–€298 million for revenues and €80–€83 million for EBITDA . Net financial position is also expected to increase, expected to range between €85–€95 million . The foreseeable change in the NFP is minimally attributable to the growth in monetary debt (the effect of disbursements related to acquisitions and a slight increase in investments), while the changes in the non-monetary components of the debt are significant and attributable to contractual variations in the leases of properties functional to the business, the registration of put options and other components .266.4 €M (cash positive)FY 2026E
(previous guidance)
290/295 €M
77/80 €M
26% - 27%
70-77 €M
Appendix
Calendar 2026
Organized events calendar (even year)Appendix Jan.
Feb. Mar. Apr. May Jun. Jul. Aug. Sept. Oct. Nov. Dec.
15MexicoSingaporeDubaiBrasilItaly
USA
investor.relations@iegexpo.it
Phone
+39 0541744452November 12TH, 2026 Approval of Consolidated Interim Report as of September 30th, 2026Contact Next Events
Disclaimer
This presentation contains certain forward -looking statements that reflect the Company’s management’s current views with respect to future events and financial and operational performance of the Company and its subsidiaries . These forward -looking statements are based on IEG S.p.A.’s current expectations and projections about future events .
Because these forward -looking statements are subject to risks and uncertainties, actual future results or performance may differ materially from those expressed in or implied by these statements due to any number of different factors, many of which are beyond the ability of IEG S.p.A. to control or estimate precisely, including changes in the regulatory environment, future market developments . You are cautioned not to place undue reliance on the forward -
looking statements contained herein, which are made only as of the date of this presentation . IEG S.p.A. does not undertake any obligation to publicly release any updates or revisions to any forward -looking statements to reflect events or circumstances after the date of this presentation .
The information contained in this presentation does not purport to be comprehensive and has not been independently verified by any independent third party .
This presentation does not constitute a recommendation regarding the securities of the Company . This presentation
does not
contain an offer to sell or a solicitation of any offer to buy any securities issued by IEG S.p.A. or any of its subsidiaries .
Pursuant to art. 154-bis, paragraph 2, of the Italian Unified Financial Act of February 24, 1998 , the executive in charge of preparing the corporate accounting documents at IEG, Teresa Schiavina, declares that the accounting information contained herein correspond to document results, books and accounting records .