B&C Speakers- Interim Report as of June 30th 2026

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B&C Speakers Group

Interim financial report as of 30 June 2026

Prepared in compliance with International Financial Reporting Standards approved by the European Union

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Contents

THE B&C SPEAKERS GROUP – Corporate bodies ................................ ................................ ....... 3

Introduction to the consolidated interim financial report as at 30 June 2026 ................................ .... 4

Report on operations for the half period ending on 30 June 2026 ................................ ................... 5

Condensed consolidated interim financial statements as at 30 June 2026 ................................ .... 13

Notes to the condensed consolidated interim financial statements as at 30 June 2026 prepared in accordance with the IFRS adopted by the European Union ................................ .......................... 17

Certification of the condensed Consolidated Interim Financial Statements under the terms of Article 154-bis of Italian Legislative Decree 58/98 ................................ ................................ .................... 39

Independent Auditors’ Report ................................ ................................ ................................ ....... 40

This document is available on the Internet at:

www.bcspeakers.com

B&C Speakers S.p.A.

Registered office in Bagno a Ripoli (FI), via Poggiomoro 1 Paid -up share capital €1,100,000 Florence Companies Register Office – Tax Code 01398890481

3 THE B&C SPEAKERS GROUP – Corporate bodies

Board of Directors

Chair: Roberta Pecci Chief Executive Officer: Lorenzo Coppini Director: Alessandro Pancani Director: Francesco Spapperi Independent Director: Raffaele Cappiello Independent Director: Marta Bavasso Independent Director: Valerie Sun

Board of Statutory Auditors

Chair: Riccardo Foglia Taverna Statutory auditor: Giovanni Mongelli Statutory Auditor: Sara Nuzzaci Alternate auditor: Irene Mongelli Alternate auditor: Diana Rizzo

Financial Reporting Manager

Francesco Spapperi

Independent a uditing firm Deloitte & Touche S.p.A.

4 Introduction to the consolidated interim financial report as at 30 June

2026

INTRODUCTION

The Consolidated interim Financial Report as at 30 June 2026 (hereinafter also the " Interim Report") has been prepared pursuant to Italian Legislative Decree 58/1998 and subsequent amendments, as well as pursuant to the Issuers' Regulations issued by Consob.

The Interim Report consists of the management report, which contains the Directors' observations on the performance of operations and the development of business during the first half of 2026, and the condensed consolidated interim financial statements.

The condensed consolidated interim financial statements of the B&C Speakers Group as at 30 June 2026 have been prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") and endorsed by the European Union, and have been prepared in accordance with IAS 34 "Interim Financial Reporting". These condensed consolidated interim financial statements therefore do not include all the information required by the annual financial statements and must be read in conjunction with the annual financial statements prepared for the year ended 31 December 2025.

This report is also prepared in compliance with Italian Legislative Decree 58/1998, as well as the Issuers' Regulation issued by Consob.

During the first half of 2026, the Parent Company continued its Buy-Back programme of treasury shares in accordance with the resolution of the Shareholders' Meeting held on 29 April 2026, which renewed the mandate to purchase treasury shares for a further 12 months. As at 30 June 2026, the number of treasury shares held amounte d to 106,017, equal to 0. 96% of the share capital. The weighted average purchase price of the shares in the portfolio is EUR 1 4,91 .

At the date of preparation of this report (September 2026), the number of treasury shares held has changed, compared to 30 June 2026, and amounts to 108,417 (equal to 0.99% of the share capital). For information purposes, it should be noted that the Parent Company B&C Speakers S.p.A. is controlled by Research & Development International S.r.l., which ex ercises management and coordination activities.

The shareholding held by the parent company Research & Development International S.r.l. is equivalent, as at 30 June 2026, to 52.73% of the Share Capital; further information on relations with the parent company is provided throughout the report.

5 Report on operations for the half period end ing on 30 June 2026 The B&C Group is one of the leading international companies in the economic sector of the production and marketing of "high -quality professional loudspeakers" ; the nature and type of the company's activity determines the need to identify this single sector as the Group's business activity, which operates both nationally and internationally.

The production and assembly of the products takes place at the Italian production facilities of the Parent Company and the subsidiary Eighteen Sound S.r.l. and at the production facilities of the foreign subsidiaries Eminence Speaker LLC (based in Eminence – Kentucky, USA) and B&C Speakers (Dongguan) Electronic Co. Ltd.

(based in Dongguan, China).

The production and distribution of Ciare brand products is carried out through Eighteen Sound S.r.l.

Distribution in the North American market takes place through the intervention of the American subsidiary B&C Speakers NA LLC, which also offers sales support services to local customers. The operational and logistical activities of B&C Speakers NA LLC are carried out at the headquarters of the subsidiary Eminence Speakers LLC (Kentucky). The concentration of the two subsidiaries' operational activities in a single location makes it possible to make the best use of Eminence Speakers LLC's assets while at t he same time achieving important logistical and operational synergies.

Distribution in the Brazilian market is carried out through the subsidiary B&C Speakers Brasil Ltda, while in the Chinese market, from 2024, it is also carried out through the local subsidiary B&C Speakers (Dongguan) Electronic Co. Ltd.

Highlights

The tables below show the economic, equity and financial highlights for the half -year period :

Income statement highlights (€ thousands) 1st half 1st half

2026 2025

Revenues 47,014 50,661 Ebitda 9,118 10,955 Ebit 7,794 9,487 Net profit 6,461 5,151 Balance sheet highlights (€ thousands) 30 June 31 December

2026 2025

Non current Assets 15,648 15,776 Non current liabilities 17,163 14,121 Current assets 77,298 75,562 Current liabilities 23,126 22,809 Net working Capital 54,171 52,753 Net Equity 52,657 54,407

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Share performance

The B&C Speakers S.p.A. share is listed on the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A.

As at 30 June 2026 (the last open market day of the half -year), the reference price of the B&C Speakers S.p.A.

(BEC) share was EUR 11.10 and consequently the capitalisation was approximately EUR 122.1 million.

The performance of the B&C Speakers SpA share over the last 12 months is shown below.

Macroeconomic situation

The macroeconomic scenario for the first half of 2026 still appears uncertain due to the persistence of existing risks and the unwelcome continuation of geopolitical tensions, which contribute to a general climate of uncertainty in the markets.

The first half of 2026 was therefore characterised by fragile global economic growth and geopolitical tensions.

In the first three months of 2026, Italian GDP grew by 0.3% in economic terms, compared to a decline of 0.2% in the euro area. The growth achieved for 2026 stands at 0.6%.

In May, the seasonally adjusted index of industrial production fell by 0.3% compared to April, interrupting three consecutive months of increases. On average for the March –May quarter, however, in cyclical terms, the index shows an increase of 0.9%.

Cash flow statement highlights (€ thousands) 1st half 1st half

2026 2025

Operating cash flow 4,766 6,596 Cash flow from investing activities 330 (1,154) Cash flow from financial activities (4,842) (2,836) Cash flow for the period 254 2,606 Net financial position (€ thousands) 30 June 31 December

2026 2025

Current net financial position 11,445 12,949 Total net financial position (4,733) (217)

7 The crises in the Middle East have also pushed up energy prices, leading the ECB to revise its inflation estimates and curb expectations of rate cuts.

Industry scenario

Industry studies indicate a prospect of steady growth in the global market for professional loudspeakers until 2029, although the structure of this growth is changing compared to the past. Demand is developing simultaneously along three lines: the growing preference for live events and locations , the modernisation of installations in the commercial and recreational sectors, and a slow but significant improvement in cinema audio, driven by immersive formats and large premium formats (PLF). Added to this is the fact that supply chains, prices and competitive dynamics are being reshaped by tariffs, multi -hub production strategies and a new wave of ecosystems driven by mergers and acquisitions.

Industry forecasts indicate market growth from $3.1 billion in 2024 to $4 billion by 2029, with a solid CAGR of 4.2%. The tourism and rental sector remains the fastest -growing sector, but leisure and commercial installations together account for the larges t share of global turnover and volumes. At the regional level, the APAC area is the main growth driver, while the Americas and the EMEA area are increasingly driven by modernisations, mega -projects and luxury renovations rather than by the pure expansion o f event venues.

There is also a strong push towards sustainability and energy efficiency, which is already posing new challenges for industry players, who are in fact moving towards the development and implementation of sustainability plans that combine technical and perf ormance requirements with the ESG demands that are increasingly present in our sector as well.

Economic performance of the Group The Group's economic performance in the first half of 2026 was down compared to the corresponding half of 2025. As at 30 June 2026, the Group's consolidated order book amounted to EUR 14.7 million, compared to EUR 18.6 million as at 31 December 2025.

For a better representation of the operating performance for the first half of the 2026 financial year, compared with the same period of the previous year, a table explaining these results is provided below:

Note:

In this half-yearly report, certain financial indicators and certain reclassified statements not defined by IFRS are presented and comment ed on.

These figures are defined below in compliance with the provisions of the Consob Communication of 28 July 2006 (DEM 6064293) a nd subsequent amendments and additions (Consob Communication no. 0092543 of 3 December 2015, which implements the ESMA/2015/1415 gu idelines).

The alternative performance indicators listed below should be used as supplementary information to the provisions of IFRS to help users of the financial report better understand the Group's economic, equity and financial performance. It should be noted tha t the method used by the Group to calculate these adjustment measures is consistent over the years. It should also be noted that it may differ from the methods used by o ther companies.

Economic trends - Group B&C Speakers (€ thousands) I half 2026 Incidence I half 2025 Incidence Revenues 47,014 100.0% 50,661 100.0% Cost of sales (29,390) -62.5% (31,491) -62.2% Gross margin 17,624 37.5% 19,170 37.8% Other revenues 168 0.4% 233 0.5% Cost of indirect labour (3,653) -7.8% (3,578) -7.1% Commercial expenses (890) -1.9% (686) -1.4% General and administrative expenses (4,130) -8.8% (4,184) -8.3% Ebitda 9,118 19.4% 10,955 21.6% Depreciation and Amortization (1,314) -2.8% (1,456) -2.9% Writedowns (10) 0.0% (13) 0.0% Earning before interest and taxes (Ebit) 7,794 16.6% 9,487 18.7% Writedown of investments in non controlled associates - 0.0% - 0.0% Financial costs (512) -1.1% (2,320) -4.6% Financial income 968 2.1% 747 1.5% Earning before taxes (Ebt) 8,250 17.5% 7,914 15.6% Income taxes (2,076) -4.4% (2,209) -4.4% Profit for the year 6,174 13.1% 5,704 11.3% Minority interest 0 0.0% 0 0.0% Group Net Result 6,174 13.1% 5,704 11.3% Other comprehensive result 287 0.6% (553) -1.1% Total Comprehensive result 6,461 13.7% 5,151 10.2%

8 EBITDA ( earnings before interest, taxes, depreciation and amortisation ) is defined by the Issuer's Directors as the "result before taxes and financial charges/income", as shown in the consolidated income statement before depreciation, provisions and write -downs as shown in the aforementioned consolidated income statement. EB ITDA is a measure used by the Issuer to monitor and evaluate the Group's operating performance.

EBIT ( earnings before interest and taxes ) represents the consolidated result before taxes, financial charges and income as shown in the income statement prepared by the Directors for the preparation of the financial statements in compliance with IAS/IFRS.

EBT ( earnings before taxes ) represents the consolidated result before taxes as shown in the income statement prepared by the Directors for the preparation of the consolidated financial statements in accordance with IAS/IFRS.

Revenues

In the first half of 2026, consolidated revenues amounted to EUR 47 million, a decrease of 7.2% compared to the corresponding period in 2025. The turnover trend reflects a phase of the year consistent with customer expectations and with a market environmen t characterised by greater selectivity in order planning.

In this scenario, the Group continued to benefit from its broad geographical diversification, recording significant growth in several areas: Italy +44% and Latin America +26%.

Europe remains the Group's leading geographical area, accounting for 50.0% of consolidated revenues, followed by North America with 18.2% and Asia -Pacific with 13.9%.

The ability to develop business in markets with different dynamics is a structural element of the B&C Speakers model and helps to limit the Group's exposure to fluctuations in demand in individual areas.

Below is the complete breakdown by geographical area for the first half of 2026 compared to the same period in 2025 (amounts in euros):

Cost of sales This category includes the consumption of materials (purchases, third -party processing and changes in inventories), the cost of personnel directly involved in the production process, transport costs and costs for commission payable, customs duties and othe r minor direct costs.

The cost of sales shows a substantially constant impact on revenues in the period, standing at 62.5% compared to 62.2% in the first half of 2025.

As a result, the gross margin stands at 37.5% of revenues, substantially in line with the 37.8% recorded in the same period of the previous year.

Geographical Area I half 2026 % I half 2025 % Change Change % Latin America 3,923,877 8.3% 3,112,720 6.1% 811,157 26% Europe 23,510,106 50.0% 26,337,483 52.0% (2,827,377) -11% Italy 3,996,056 8.5% 2,774,622 5.5% 1,221,434 44% North America 8,562,761 18.2% 9,612,815 19.0% (1,050,055) -11% Middle East & Africa 482,000 1.0% 376,782 0.7% 105,218 28% Asia & Pacific 6,539,505 13.9% 8,446,836 16.7% (1,907,331) -23% Total 47,014,303 100.0% 50,661,257 100.0% (3,646,954) -7%

9 The substantial stability of the industrial margin in the presence of lower volumes highlights the Group's ability to preserve the efficiency of its production model and to progressively adapt the operating structure to market conditions.

Indirect personnel

This category refers to the costs for clerical staff, managers and workers not associated with the production process.

The cost of indirect personnel increased slightly in terms of its share of revenues compared to the six months of 2025, rising from 7.1% to 7.8%. In absolute terms, the figure for the first six months of 2026 was substantially in line with the first half o f 2025.

Commercial expenses

This category refers to costs for commercial consultancy, advertising and marketing expenses, travel and transfers and other minor charges relating to the commercial sector.

In absolute terms, selling expenses increased by 29.8%, while maintaining a substantially unchanged impact on revenues. The trend is consistent with the commercial development activities and initiatives aimed at strengthening the Group's presence in international markets and supporting the strategic growth guidelines.

General and administrative General and administrative costs show a reduction in absolute value compared to the corresponding period of the previous year (equal to EUR 54 thousand ), leaving their impact on revenues substantially unchanged, which confirms the Group's focus on controlling the cost structure and on operational efficiency.

EBITDA and EBITDA Margin As a result of the dynamics described above, EBITDA for the first six months of 2026 amounted to EUR 9.1 million, a decrease of EUR 1.8 million ( -16.8%) compared to the same period in 2025.

The EBITDA margin for the first six months of 2026 is 19.4% of revenues, compared to 21.6% for the same period in 2025.

The result highlights the ability of the Group's business model to preserve significant margin generation even in phases characterised by lower demand visibility.

Depreciation and amortisation Depreciation of tangible and intangible fixed assets and rights of use decreased slightly compared to the first six months of 2025 and amounted to EUR 1.3 million (EUR 1.4 million in the first six months of 2025).

EBIT and EBIT margin EBIT for the first six months of 2026 amounted to EUR 7.8 million, down 17.8% compared to the same period in 2025 (when it was EUR 9.5 million). The EBIT margin is 16.6% of revenues (18.7% in the corresponding period of 2025).

Group Net Profit The Group's net profit at the end of the first six months of 2026 amounts to EUR 6.2 million and represents 13.1% of consolidated revenues, with an overall increase of 8.2% compared to the corresponding period in 2025. This trend is due to the effect of th e sharp decrease in financial expenses compared to the first half of 2025 following the stabilisation of the EUR/USD exchange rate.

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Balance sheet and financial performance Below is the balance sheet reclassified according to criteria for the allocation of sources and uses:

Note :

Fixed assets : these are defined by the Issuer's Directors as the value of multi -year assets ( property, plant and equipment, rights of use and other intangible assets ). Net Operating Working Capital : defined by the Issuer's Directors as the value of inventories, trade receivables and other receivables net of payables for supplies and other payables. Provisions : represent the value of the obligations related to employee severance pay and Directors' end-of-term benefits. Net Operating Invested Capital : represents the value of financial assets and other financial receivables as described above. Raised capital : represents the value of the Group's Shareholders' Equity and the Group's total debt.

Net Operating Invested Capital shows an increase of EUR 2.7 million compared to 31 December 2025. This increase is mainly due to an increase in warehouse stocks.

Net Non -Operating Invested Capital decreased by EUR 0.9 million compared to 31 December 2025, mainly due to the liquidation of part of the short -term securities portfolio, with a capital gain of EUR 13 thousands .

The other Balance Sheet categories showed no changes compared to 31 December 2025.

The overall Net Financial Position is negative and amounts to EUR 4.7 million compared to a negative value of EUR 0.2 million at the end of the 2025 financial year. The evolution of the financial position must also be read in the light of the significant remuneration paid to shareholders during the period. In May, the Group paid dividends of approximately EUR 7.6 million, equal to EUR 0.70 per share.

Despite this distribution, the Group's cash and cash equivalents amounted to EUR 14.2 million, while the final net cash and cash equivalents amounted to EUR 11.8 million.

The recurring generation of cash therefore continues to represent one of the key elements of B&C Speakers' economic and financial profile and supports the Group's ability to combine investments for development, financial strength and shareholder remunerati on.

Reclassified Balance sheet 30 June 31 December (€ thousands) 2026 2025 Change Property, plant & Equipment 11,403 11,619 (216) Inventories 32,115 29,349 2,766 Trade receivables 20,057 20,402 (345) Other receivables 5,751 5,466 285 Trade payables (9,739) (10,473) 733 Other payables (4,202) (3,768) (434) Working capital 43,981 40,975 3,006 Provisions (985) (955) (30) Invested net working capital 54,399 51,639 2,760 Cash and cash equvalents 14,245 13,968 277 Goodwill 2,318 2,318 -

Short term securities 6,384 7,549 (1,165) Other financial receivables 672 667 5 Financial assets 23,620 24,502 (882) Invested net non operating capital 23,620 24,502 (882)

NET INVESTED CAPITAL 78,019 76,141 1,878

Equity 52,657 54,407 (1,750) Short-term financial borrowings 9,185 8,568 616 Long-term financial borrowing 16,178 13,166 3,011

RAISED CAPITAL 78,019 76,141 1,878

11 The corporate structure As at 30 June 2026, the Group's workforce amounted to 386 employees (383 employees as at 31 December 2025).

Investments

The investment activity in the first half of 2026 focused mainly on activities aimed at improving the production lines and improving the production facilities of the subsidiary Eminence Speakers.

Significant events during the first half of 2026 The Shareholders' Meeting, held on 29 April 2026, resolved to approve the financial statements and to distribute an ordinary dividend of EUR 0.7 per ordinary share outstanding on the ex -dividend date (which took place on 4 May 2026, with record date on 5 M ay 2026, and payment on 6 May 2026).

At present, the flow of orders does not seem to be affected by the dramatic events of the ongoing war, it being noted that the Group's turnover with the countries concerned has historically been very low. However, it cannot be ruled out that a prolonged du ration of the conflict and its possible extension could lead to an indirect contraction in demand. The Management of B&C Speakers S.p.A. is closely monitoring the development of the aforementioned scenario in order to understand any further political, econ omic or other implications that could impact the business of the Company and the Group.

Business outlook

The market environment continues to be influenced by geopolitical tensions and international trade policies, factors that affect short -term visibility and lead customers to maintain a cautious approach in planning their procurement.

In this scenario, B&C Speakers continues to manage the business according to criteria of industrial flexibility, operational discipline and cost control, while maintaining its focus on initiatives aimed at medium - to long -

term growth.

In particular, the Group continues to invest in strengthening its international commercial presence, developing its proprietary distribution platform and expanding its product range, leveraging its production and commercial presence in the main world marke ts and its portfolio of B&C, 18SOUND, EMINENCE and CIARE brands .

Evidence from the market continues to indicate that the current greater caution in demand is predominantly temporary in nature. While maintaining a careful approach to the evolution of the international scenario, the Group therefore remains focused on the objective of preserving high levels of profitability and financial efficiency.

The expected results for 2026 could potentially be affected by the direct and indirect effects of the consequences of the ongoing wars, although historically the Group has not had significant turnover with customers located in the areas affected by the con flicts.

In this scenario, the Group will continue to work to meet its commitments and objectives, continuing to take all necessary measures to manage the direct and indirect effects of the risk factors mentioned above.

Disclosure pursuant to Article 79 of the Issuers' Regulation No. 11971/99 In relation to the disclosure obligations provided for by Article 79 of the Issuers' Regulation No. 11971/99, regarding shareholdings held, in the issuers themselves and in the companies controlled by them, by the members of the administrative and control bodies, by the general managers and by the executives with strategic responsibilities, as well as by spouses who are not legally separated and by minor children, directly or through subsidiaries, trust companies or intermediaries, resulting from the shareh olders' register, from the communications received and from other information acquired by the same members of the administrative and control bodies, by the general managers and executives with strategic responsibilities, the following information is provid ed:

12 - as of 30 June 2026, Director Lorenzo Coppini owns 50,000 shares in B&C Speakers S.p.A.;

- as of 30 June 2026, Director Alessandro Pancani owns 3,617 shares in B&C Speakers S.p.A.;

- as of 30 June 2026, Director Roberta Pecci owns 11,542 shares in B&C Speakers S.p.A.

Main risks and uncertainties to which the Group is exposed For an examination of the main risks and uncertainties to which the Group is exposed, please refer to the extensive information provided in the management report on the Consolidated Financial Statements as at 31 December 2025.

With reference to financial risks, see the information in the explanatory notes.

Corporate Governance

The Group adheres to the Corporate Governance Code for Italian listed companies currently in force. In compliance with regulatory obligations, the " Corporate Governance Report " is drawn up annually. In addition to providing a general description of the corporate governance system adopted by the Group, it contains information on the ownership structure and on adherence to the individual provisions of the Corporate Governance Cod e, as well as on compliance with the resulting commitments. For a more detailed description of the constituent elements of Corporate Governance , please refer to the full document relating to the Annual Report, which can be found on the website www.bcspeakers.com , in the Investors section.

Article 36 of the Consob Market Regulations (adopted by Consob Resolution No. 16191/2007 and subsequent amendments): conditions for the listing on the stock exchange of companies controlling companies incorporated and regulated by the law of non -EU States In relation to the regulatory requirements regarding the conditions for the listing of companies that control companies incorporated and regulated under the laws of non -EU countries and that are of significant importance for the purposes of the Consolidate d Financial Statements, it should be noted that:

- as of 30 June 2026, the regulatory requirements of Article 36 of the Market Regulations apply to the subsidiaries B&C Speakers NA LLC, B&C Speakers Brasil Ltda, Eminence Speakers LLC and B&C Speakers (Dongguan) Electronic Co. Ltd.

- adequate procedures have been adopted to ensure full compliance with the aforementioned regulations.

Article 37 of the Consob Market Regulations: Conditions that inhibit the listing of shares of subsidiaries subject to the management and coordination of another company Pursuant to Article 2.6.2. paragraph 13 of the Regulation of the Markets Organised and Managed by Borsa Italiana S.p.A., the existence of the conditions referred to in Article 37 of Consob Regulation No. 16191/2007 is hereby certified.

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Condensed consolidated interim financial statements as at 30 June 2026

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2026 PREPARED IN ACCORDANCE WITH IFRS

ADOPTED BY THE EUROPEAN UNION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(Values in Euro)Notes30 June

202531 December

2025

ASSETS

Fixed assets

Tangible assets 1 6,322,498 5,895,116 Right of use 2 4,442,009 5,047,150 Goodwill 3 2,318,181 2,318,181 Other intangible assets 4 638,774 676,644 Deferred tax assets 5 1,254,594 1,171,212 Other non current assets 6 672,335 667,296 related parties 31 6,700 6,700 Total non current assets 15,648,391 15,775,599

Currents assets

Inventory 7 32,114,594 29,348,581 Trade receivables 8 20,056,807 20,401,887 Tax assets 9 1,538,173 1,166,975 Other current assets 10 9,342,657 10,676,571 Cash and cash equivalents 11 14,245,275 13,967,993 Total current assets 77,297,506 75,562,007 Total assets 92,945,897 91,337,606

LIABILITIES

Equity

Share capital 12 1,089,314 1,093,817 Other reserves 12 5,971,838 4,587,594 Foreign exchange reserve 12 487,390 196,071 Retained earnings 12 45,108,470 48,529,581 Total equity attributable to shareholders of the parent 52,657,012 54,407,064 Minority interest - -

Total equity 52,657,012 54,407,064 Non current liabilities Long-term borrowings 13 12,866,972 9,276,975 Long-term lease liabilities 14 3,310,655 3,889,224 related parties 31 642,390 1,088,005 Severance Indemnities 15 940,986 910,797 Provisions for risk and charges 16 44,152 44,152 Total non current liabilities 17,162,765 14,121,148

Current liabilities

Short-term borrowings 17 7,712,388 7,102,304 Short-term lease liabilities 14 1,472,198 1,465,785 related parties 31 950,510 983,899 Trade liabilities 18 9,739,496 10,472,853 related parties 31 88,719 89,682 Tax liabilities 19 204,009 15,261 Other current liabilities 20 3,998,029 3,753,192 Total current liabilities 23,126,120 22,809,395 Total Liabilities 92,945,896 91,337,607

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE FIRST HALF OF 2026 PREPARED IN ACCORDANCE

WITH IFRS ADOPTED BY THE EUROPEAN UNION

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(Values in Euro)Notes I half 2026 I half 2025 Revenues 22 47,014,303 50,661,257 Cost of sales23

(29,390,153) (31,491,486)

Other revenues 24 167,512 232,855 Cost of indirect labour 25 (3,653,472) (3,577,694) Commercial expenses 26 (889,681) (685,639) General and administrative expenses 27 (4,130,276) (4,184,195) Depreciation and amortization (1,313,917) (1,455,500) Writedowns 28 (10,286) (12,723) Earning before interest and taxes 7,794,030 9,486,875 Writedown of investments in non controlled associates - -

Financial costs 29 (511,693) (2,320,279) related parties 31 (21,035) (30,908) Financial income 29 968,000 747,005 Earning before taxes 8,250,337 7,913,600 Income taxes 30 (2,075,992) (2,209,477) Profit for the year (A) 6,174,345 5,704,123 Other comprehensive income/(losses) for the year that will not be reclassified in icome

statement:

Actuarial gain/(losses) on DBO (net of tax) 12 (4,238) 6,069 Other comprehensive income/(losses) for the year that will be reclassified in icome

statement:

Exchange differences on translating foreign operations 12 291,318 (559,168) Total other comprehensive income/(losses) for the year (B) 287,081 (553,100) Total comprehensive income (A) + (B) 6,461,426 5,151,024 Profit attributable to:

Owners of the parent 6,174,345 5,704,123 Minority interest - -

Total comprehensive income atributable to:

Owners of the parent 6,461,426 5,151,024 Minority interest - -

Basic earning per share 12 0.57 0.52 Diluted earning per share 12 0.57 0.52

15 CONSOLIDATED CASH FLOW STATEMENT AS AT 30 JUNE 2026 PREPARED IN ACCORDANCE WITH IFRS ADOPTED BY

THE EUROPEAN UNION

Note 1 : The liquidity absorbed by the repayment of the liabilities for rights of use includes a liquidity absorption attributable t o transactions with the parent company R&D International S.r.l. for EUR 479 thousand.

The following table shows the composition of the balance of net cash and cash equivalents as at 30 June 2026 and 30 June 2025:

Consolidated statement of cash flows I half 2026 I half 2025 A-Net current bank balances at the beginning of the period 11,501 6,719 B-Cash flow from operating activities Profit/loss for the period (Including third parties Profit/loss) 6,461 5,151 Income tax expense 2,076 2,209 Depreciation and amortization 1,314 1,455 Finance cost 512 2,320 Interest income (968) (747) Net change in provisions for risk and charges and other provision relating to personell 18 18 Change in provigion for leaving indemnities 12 5 (increase) decrease in current trade and other current receivables 638 (1,067) (increase) decrease in deferred tax assets and liabilities (83) 22 (increase) decrease in inventory (2,766) 1,227 Increase (decrease) in current trade and other payables (1,566) (2,176) Net cash from/(used in) operating activities 5,649 8,418 Paid interest costs (137) (1,015) Collected interest income 333 476 Taxes paid (1,079) (1,283) Total (B) 4,766 6,596 C-Cash flow from investing activities (Investments) in non current tangible assets (887) (1,073) Proceeds for sale of non current tangible assets 0 0 Net (investments) in non current intangible assets (82) (73) Net (investments) in non current securities (5) (8) (Investments) in current securities (977) 0 Proceeds from sale of current securities 2,281 0 Total (C) 330 (1,154) D-Cash flow from financing activities (Outflow) from repayment of loans (2,380) (2,618) Inflow from borrowing activities 6,557 10,056 (Outflow) from repayment of lease liabilities (807) (831) Note 1 Purchase of treasury shares (575) 1,422 Dividend paid to shareholders (7,637) (10,866) Total (D) (4,842) (2,836) E-Cash flow for the period (B+C+D) 254 2,606 F-Cash and cash equivalents at end of the period 11,755 9,325 Reconciliation between Net Cash and Cash & cash equivalent 30-Jun-26 31-Dec-25 Cash 14,246 13,968 Bank overdrafts (2,491) (2,467) Total 11,755 11,501

16 STATEMENT OF CHANGES IN EQUITY, PREPARED IN ACCORDANCE WITH IFRS ADOPTED BY THE EUROPEAN UNION

The changes in shareholders' equity that occurred in the first half of 2026 and in the first half of 2025 are shown below.

Share

CapitalLegal

ReserveShare

premium

reserveExtraordinary

reserveExchange

rate

reserveForeign

exchange

reserveRetained

earningsNet Group

EquityMinority

interestTotal net Equity

Euro thousand

Balance at January 1, 2026 1,094 379 4,110 44 55 196 48,530 54,407 - 54,407 Result of the period 6,174 6,174 6,174 Other comprehensive income/expenses 291 (4) 287 287 Totale other comprehensive income/expenses - - - - - 291 6,170 6,461 - 6,461

Shareholders

Dividend distribution (7,637) (7,637) - (7,637) Treasury shares allocation (5) (570) - (575) (575) Other - - -

Balance at June 30, 2026 1,089 379 3,540 44 55 487 47,063 52,657 - 52,657

Share

CapitalLegal

ReserveShare

premium

reserveExtraordinary

reserveExchange

rate

reserveForeign

exchange

reserveRetained

earningsNet Group

EquityMinority

interestTotal net Equity

Euro thousand

Balance at January 1, 2025 1,091 379 3,636 44 55 728 49,263 55,195 - 55,195 Result of the period 5,704 5,704 5,704 Other comprehensive income/expenses (559) 6 (553) (553) Totale other comprehensive income/expenses - - - - - (559) 5,710 5,151 - 5,151

Shareholders

Dividend distribution (10,866) (10,866) - (10,866) Treasury shares allocation 9 1,413 - 1,422 1,422 Other - - -

Balance at June 30, 2025 1,100 379 5,049 44 55 169 44,108 50,903 - 50,903

17

Notes to the condensed consolidated interim financial statements as at 30 June 2026 prepared in accordance with the IFRS adopted by the European

Union

Accounting policies

These condensed consolidated interim financial statements have been prepared in accordance with the International Financial Reporting Standards ("IFRS") issued by the International Accounting Standards Board ("IASB") and endorsed by the European Union. IFRS also includes all revised internat ional accounting standards (“IAS”) and all interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”), formerly known as the Standing Interpretations Committee (“SIC”).

These condensed consolidated interim financial statements have been prepared in accordance with IAS 34 “Interim Financial Reporting”. These condensed interim financial statements therefore do not include all the information required by the annual financial statements and must be read in conjunction with the annual financial statements prepared for the year ended 31 December 2025.

The accounting standards adopted for the preparation of these condensed consolidated interim financial statements are the same as those adopted for the preparation of the Group's annual consolidated financial statements for the year ended 31 December 2025.

As part of the preparation of the condensed consolidated interim financial statements, the Parent Company's Management made assessments, estimates and assumptions that affect the values of revenues, costs and assets and liabilities and the disclosures relating to contingent assets and liabilities at the reporting date of the financial statements. It should be noted that, as these are estimates, they may differ from the actual results that may be obtained in the future.

Certain valuation processes, in particular the more complex ones such as the determination of any impairment losses on fixed assets, are carried out in full only when the year -end consolidated financial statements are prepared, when all the necessary infor mation is available, except in cases where there are indicators of impairment that require an immediate assessment of impairment.

Income taxes are recognised on the basis of the best estimate of the average rate expected for the entire financial year.

The Group's business is not subject to significant seasonal phenomena.

The limited audit of the B&C Speakers Group's condensed consolidated half -year financial statements as at 30 June 2026 is entrusted to Deloitte & Touche S.p.A.

Update on the macroeconomic situation With reference to the ongoing wars, it should be noted that the results for the first half of 2026 were not directly affected by the wars in Ukraine and the Middle East. In fact, it should be noted that historically the Group does not have significant turn over with Russian, Ukrainian or Middle Eastern customers.

The Group was only marginally affected by the indirect effects of the Russia -Ukraine conflict in terms of increased costs. In particular, since the Group's business is not particularly energy -intensive, the increase in energy costs is modest. Therefore, the overall effect on margins is in any case very limited.

In a real context of military escalation, the macroeconomic effects for 2026 introduce a further element of uncertainty that has already been reflected in the increase in energy costs. The Group's Management has not, at present, identified any imminent thr eats that could, in the short and medium term, have a significant impact on the business.

18 The Management of B&C Speakers S.p.A. is closely monitoring the evolution of the aforementioned scenario to understand any further political, economic or other implications that could impact the Company's business.

Taking into account the above, as well as the financial structure, existing liquidity, available bank credit lines and the order book as of June 2026, the Management believes that there are no significant uncertainties regarding the existence of the going concern assumption, having assessed the ability of the Parent Company and the Group to fulfil their obligations and to continue operating as a going concern for the foreseeable future.

Accounting standards, amendments and interpretations applied from 1 January 2026 The following IFRS Accounting Standards, amendments and interpretations were applied for the first time by the Group from 1 January 2026:

• On 30 May 2024, the IASB published the document " Amendments to the Classification and Measurement of Financial Instruments —Amendments to IFRS 9 and IFRS 7 ". The document clarifies some problematic aspects that emerged from the post -implementation review of IFRS 9, including the accounting treatment of financial assets whose returns vary upon the achievement of ESG objectives (i.e. green bonds). In particular, the amendments aim to:

- Clarify the classification of financial assets with variable returns linked to environmental, social and corporate governance (ESG) objectives and the criteria to be used for the assessment of the SPPI test;

- determine that the settlement date of liabilities through electronic payment systems is the date on which the liability is extinguished. However, an entity is permitted to adopt an accounting policy to allow a financial liability to be derecognised before delivering cash on the settlement date under certain specific conditions.

With these amendments, the IASB also introduced additional disclosure requirements regarding, in particular, investments in equity instruments designated at FVOCI.

The adoption of this amendment had no effect on the Group's consolidated financial statements.

• On 18 December 2024, the IASB published an amendment entitled " Contracts Referencing Nature -

dependent Electricity – Amendment to IFRS 9 and IFRS 7 ". The document aims to support entities in reporting the financial effects of contracts for the purchase of electricity produced from renewable sources (often structured as Power Purchase Agreements). Under these contracts, the amount of electricity gener ated and purchased may vary based on uncontrollable factors such as weather conditions. The IASB has made targeted amendments to IFRS 9 and IFRS 7. The amendments include:

- a clarification regarding the application of the "own use" requirements to this type of contract;

- criteria to allow the accounting of such contracts as hedging instruments; and,

- new disclosure requirements to enable users of the financial statements to understand the effect of these contracts on an entity's financial performance and cash flows.

The adoption of this amendment had no effect on the Group's consolidated financial statements.

19 • On 18 July 2024, the IASB published a document called " Annual Improvements Volume 11 ". The document includes clarifications, simplifications, corrections and changes aimed at improving the consistency of various IFRS Accounting Standards. The amended standards are:

- IFRS 1 First -time Adoption of International Financial Reporting Standards;

- IFRS 7 Financial Instruments: Disclosures and the related guidelines on the implementation of

IFRS 7;

- IFRS 9 Financial Instruments;

- IFRS 10 Consolidated Financial Statements; and

- IAS 7 Statement of Cash Flows.

The adoption of this amendment had no effect on the Group's consolidated financial statements.

New IFRS accounting standards, amendments and interpretations endorsed by the European Union, not yet mandatorily applicable and not adopted in advance by the Group as at 30 June 2026 As of the reference date of this document, the competent bodies of the European Union have completed the endorsement process necessary for the adoption of the amendments and standards described below, but these standards are not mandatorily applicable and have not been adopted in advance by the Group as of 30

June 2026:

• On 9 April 2024, the IASB published a new standard IFRS 18 Presentation and Disclosure in Financial Statements , which will replace IAS 1 Presentation of Financial Statements . The new standard aims to improve the presentation of financial statement formats, with particular reference to the income statement format. In particular, the new standard requires:

- classify revenues and costs into three new categories (operating section, investment section and financial section), in addition to the tax and discontinued operations categories already present in the income statement format;

- present two new sub -totals, the operating result and the result before interest and taxes (i.e.

EBIT).

- The new standard also:

- requires more information on the performance indicators defined by management;

- introduces new criteria for the aggregation and disaggregation of information; and,

- introduces some changes to the cash flow statement format, including the requirement to use operating profit as the starting point for the presentation of the cash flow statement prepared using the indirect method and the elimination of some classification options for certain currently existing items (such as interest paid, interest received, dividends paid and dividends received).

The new standard will come into force on 1 January 2027, but early application is permitted.

The directors are currently assessing the possible effects of the introduction of this new standard on the Group's consolidated financial statements.

Accounting standards, amendments and interpretations of IFRS accounting standards not yet endorsed by the European Union.

As of the reference date of this document, the competent bodies of the European Union have not yet completed the approval process necessary for the adoption of the amendments and standards described below.

• On 9 May 2024, the IASB published a new standard IFRS 19 Subsidiaries without Public Accountability:

Disclosures ( together with the Amendments to IFRS 19 Subsidiaries without Public Accountability:

Disclosures published on 21 August 2025) . The new standard introduces some simplifications with

20 reference to the disclosures required by the IFRS Accounting Standards in the financial statements of a subsidiary, which meets the following requirements:

- it has not issued equity or debt instruments listed on a regulated market and is not in the process of issuing them;

- its parent company prepares consolidated financial statements in accordance with IFRS.

The new standard will come into force on 1 January 2027, but early application is permitted. The directors do not expect a significant effect on the Group's consolidated financial statements from the adoption of this amendment.

• On 13 November 2025, the IASB published a document entitled " Translation to a Hyperinflationary Presentation Currency – Amendment to IAS 21 " which clarifies the conversion procedures for an entity whose presentation currency is that of a hyperinflationary economy. The entity applies the

amendments if:

- its functional currency is that of a non -hyperinflationary economy and it is converting its economic results and financial position into the currency of a hyperinflationary economy;

or,

- it is converting the economic results and the financial position of a foreign operation whose functional currency is that of a non -hyperinflationary economy into the currency of a hyperinflationary economy.

The amendments will apply from the financial statements for the financial years beginning on or after 1 January 2027. The directors do not expect any effect on the Group's consolidated financial statements from the adoption of this amendment.

• On 27 May 2026, the IASB published IFRS 20 – Regulatory Assets and Regulatory Liabilities . The new standard applies to all entities subject to a specific type of tariff regulation, namely tariff regulation that creates timing differences.

The objective of the new standard is to require an entity to provide relevant information that represents the impact of income and costs arising from regulated activities on the entity's profit or loss, as well as the impact of assets and liabilities arisi ng from regulated activities on the statement of financial position. To achieve this objective, the new standard defines the requirements for the recognition, measurement, presentation and disclosure of assets, liabilities, income and costs arising from re gulated activities. Assets and liabilities arising from regulated activities constitute a subset of the rights and obligations created by a regulatory agreement. The information relating to this subset of rights and obligations enables users of the financi al statements to understand:

a) the revenues and costs arising from an entity's regulated activities, which arise from the assets and liabilities arising from regulated activities. This understanding, together with the information required by other IFRS standards, will provide guidance o n the total permitted remuneration for regulated goods or services provided by the entity in a reporting period and, consequently, on the entity's profit or loss and future cash flow prospects.

b) the assets and liabilities arising from an entity's regulated activities. This understanding will provide information on the entity's financial position at the end of a reporting period and on the amount, timing and uncertainty of the entity's future cash flows.

IFRS 20 will replace IFRS 14 – Regulatory Deferral Accounts and will enter into force on 1 January 2029, but early application is permitted.

21 The directors do not expect a significant effect on the Group's consolidated financial statements from the adoption of this standard.

• On 27 June 2026, the IASB published a document entitled "Amendments to the Fair Value Option for Investments in Associates and Joint Ventures (Amendments to IAS 28)" which clarifies which entities are eligible to measure investments in associates and joint ventures using the fair value option provided for in IAS 28. The IASB decided to develop amendments to resolve:

- the lack of clarity on the meaning of "similar entities, including unit -linked insurance funds" and on how this definition should be interpreted, in a narrow or broad sense; and,

- the different interpretations of the relationship between the scope of the fair value option in IAS 28 and the requirements of IFRS 18 relating to "specified main business activities" .

The amendments will apply at the same time as the application of IFRS 18 and therefore, starting from the financial statements for the years beginning on or after 1 January 2027. The directors do not expect a significant effect on the Group's consolidated financial statements from the adoption of these amendments.

Scope of consolidation The Half -Year Report as at 30 June 2026 prepared in accordance with IFRS includes the financial statements of the Parent Company and the companies of the B&C Speakers Group using the full consolidation method.

The companies that belong to the scope of consolidation as at 30 June 2026 are therefore the following:

With reference to the subsidiaries, there are no changes compared to the scope of consolidation as at 31 December 2025.

The exchange rates applied in the conversion of financial statements in currencies other than the euro in the first half of 2025, as at 31 December 2025 and in the first half of 2026 are shown in the following table:

Segment reporting

IFRS 8 requires operating segments to be identified on the basis of the information and internal reports used by management to allocate resources to the various operating segments and monitor their performance. The Group, based on the definition of operati ng segments made by IFRS 8, operates in a single operating segment called "acoustic transducers" as management reporting is oriented exclusively to this single segment.

Group structure at 30 June 2026 Group structure at 31 December 2025 Direct Indirect Total Direct Indirect Total B&C Speaker S.p.A. Italy Eighteen Sound S.r.l. Italy 100% - 100% 100% - 100% B&C Speaker NA LLC USA 100% - 100% 100% - 100% B&C Speaker Brasil LTDA Brasil 100% - 100% 100% - 100% Eminence Speakers LLC Stati Uniti 100% - 100% 100% - 100% B&C Speakers (Dongguan) Electronics Ltd Cina 100% - 100% 100% - 100%Companies Country Parent Company Parent Company

Currency

Avg exch. Final exch. Avg exch. Final exch. Avg exch. Final exch.

EURO/USD 1.167 1.139 1.130 1.175 1.093 1.172

EURO/REAL 6.013 5.900 6.307 6.436 6.291 6.438

EURO/RMB 8.007 7.731 8.119 8.226 7.924 8.397 30-Jun-26 31-Dec-25 30-Jun-25

22 Analysis of the breakdown of the main items of the consolidated balance sheet as at 30 June 2026

1. Property, plant and equipment The breakdown of tangible fixed assets and the related changes for the period are shown in the following

tables:

(In euros)

The most significant purchases made during the period relate to the integration of machinery and production equipment at the Vallina production facilities in Reggio Emilia.

2. Rights of use The Group recognised right -of-use assets and lease liabilities, discounting the value of the lease payments due.

As at 30 June 2026, the Group has a value of Rights of Use of EUR 4,442 thousands (EUR 5,047 thousands as at 31 December 2025), composed as follows:

• Rights of use on properties for EUR 4,400 thousand, relating to medium/long -term contracts for the rental

of buildings;

• Rights of use on vehicles for EUR 42 thousands , relating to medium/long -term rental contracts for company cars.

The change that occurred in the half -year is mainly due to the effect of depreciation for the period and the addition to the company car fleet.

3. Goodwill

The composition of this item is shown in the following table:

(In euros)

Historic cost 31-Dec-25 Additions Reclassification Foreign exch. (Decreases) 30-Jun-26 Land and buildings 2,549,074 8,486 - 79,847 - 2,637,408 Photovoltaic System and other minor 1,861,031 27,450 26,078 - - 1,914,559 Lightweight construction 240,862 - - - - 240,862 Plants and machinery 13,774,164 37,001 296,638 105,457 (86,920) 14,126,340 Industrial equipment 9,822,910 135,142 98,508 12,261 - 10,068,821 Various equipment 1,906,267 74,572 1,160 14,725 (23,752) 1,972,973 Fixed assets in progress 430,610 494,757 (422,385) 105,818 (3,326) 605,475 Total 30,584,918 777,408 (0) 318,109 (113,998) 31,566,437 Accumulated depreciation 31-Dec-25 Depreciation Reclassification Foreign exch. (Decreases) 30-Jun-26 Land and buildings 1,713,164 48,115 - - 52,340 - 1,717,389 Photovoltaic System and other minor 1,146,827 56,862 - - - 1,203,689 Lightweight construction 121,703 8,293 - - - 129,996 Plants and machinery 11,412,087 185,234 - 89,624 (86,920) 11,600,024 Industrial equipment 8,743,880 246,528 - 2,419 - 8,992,826 Various equipment 1,551,917 64,394 - 7,212 (23,732) 1,599,790 Fixed assets in progress - - - - - -

- - -

Total 24,689,578 513,195 - 151,594 (110,653) 25,243,715 Net value 31-Dec-25 Increases Reclassification Foreign exch. Depreciation (Decreases) 30-Jun-26 Land and buildings 836,877 8,486 - 27,507 48,115 - 920,985 Photovoltaic System and other minor 714,202 27,450 26,078 - (56,862) - 710,869 Lightweight construction 118,416 - - - (8,293) - 110,123 Plants and machinery 2,361,632 49,920 - 296,638 15,834 (185,234) 86,920 2,525,870 Industrial equipment 1,079,029 135,142 98,508 9,843 (246,528) - 1,075,994 Various equipment 354,348 50,820 1,160 7,513 (64,394) 23,732 373,181 Fixed assets in progress 430,612 491,432 (422,385) 105,818 - - 605,477

- - - - - - -

Total 5,895,116 663,411 0 - 166,514 (513,195) 110,653 6,322,498

23 The item Goodwill shows no changes compared to 31 December 2025 and is attributable to:

(i) the consolidation of the investment in B&C Speakers NA LLC , for EUR 1,39 4 thousands ;

(ii) the consolidation of the investment in Eighteen Sound S.r.l. for EUR 924 thousands .

The value of goodwill represents the positive difference between the purchase cost and the Group's share in the current values of the identifiable assets, liabilities and contingent liabilities of the acquired entities at the acquisition date.

Goodwill is tested annually, or more frequently if specific events or changed circumstances indicate the possibility of having suffered an impairment loss, to identify any impairment, in accordance with IAS 36 -

Impairment of Assets ( impairment test ). The recoverability of the recorded values is verified by comparing the net book value of the individual cash -generating units ("CGUs") with the recoverable value (value in use). This recoverable amount is represented by the present value of the future cash flows that are estimated to derive from the continued use of the assets related to the cash -generating unit and the terminal value attributable to them.

CGU Eighteen Sound The assumptions made for the preparation of the Eighteen Sound business plan used for the impairment test carried out when preparing the annual financial statements and approved by the Board of Directors on 16 February 2026 did not undergo any significant changes during the six -month period in question, also taking into account the results recorded by th e aforementioned CGU in the first half of 2026. The assessments made by the Group did not reveal, at the date of preparation of this report, any impairment indicators such as to make it necessary to update the impairment test carried out as at 31 December 2025 on the Eighteen Sound CGU and approved by the Board of Directors of the Parent Company on 4 March 2026 in support of the recognition of goodwill.

Given that the recoverable amount is determined on the basis of estimates, the Group cannot guarantee that there will be no impairment of goodwill in future periods. Furthermore, given the current context of uncertainty, the Group will constantly monitor t he various factors and the existence of impairment losses.

CGU B&C USA

The assumptions made for the preparation of the B&C USA business plan used for the impairment test carried out when preparing the annual financial statements and approved by the Board of Directors on 16 February 2026 did not undergo any significant changes during the six -month period in question, also taking into account the results recorded by the aforementioned CGU in the first half of 2026. The assessments made by the Group have not revealed, at the date of preparation of this report, any impairment indicators such as to make it necessary to update the impairment test carried out as at 31 December 2025 on the B&C USA CGU and approved by the Parent Company's Board of Directors on 4 March 2026 in support of the recognition of goodwill.

Given that the recoverable amount is in any case determined on the basis of estimates and assumptions, the Group cannot guarantee that there will be no impairment of goodwill in future periods. Furthermore, given the current context of uncertainty, the Gro up will constantly monitor the various factors and the existence of impairment losses.

4. Other intangible assets The composition of intangible assets and the related changes for the period are shown in the following table:

Goodwill 30-Jun-26 31-Dec-25 Goodwill on Eighteen Sound S.r.l. 924,392 924,392 Goodwill on B&C Speakers Usa NA LLC 1,393,789 1,393,789 Total goodwill 2,318,181 2,318,181

24 (In euros)

The item "Industrial patent rights and use of intellectual property" consists of software purchased from external suppliers, the costs of registering the B&C Speakers trademark and the costs of registering patents.

The increase mainly refers to the capitalisation of costs incurred for the adaptation of the management information system with reference to purchase planning. The item "Intangible fixed assets in progress" mainly refers to the investments incurred for the creation of an e -commerce site for the US subsidiary.

5. Deferred tax assets As at 30 June 2026, this item reflects deferred tax assets, net of deferred tax liabilities, amounting to EUR 1,271 thousand (EUR 1,171 thousand as at 31 December 2025).

These amounts mainly consist of deferred tax assets arising from the tax treatment of costs not fully deductible during the period and deferred tax assets arising from the elimination of intra -group margins.

Deferred tax assets have been recognised as it is considered probable that there will be adequate future taxable income against which to use this credit balance.

6. Other non -current assets The item is made up as follows:

(In euros)

The item insurance policies refers to the receivable accrued from the insurance companies Fondiaria Assicurazioni and Allianz in relation to the capitalisation policies taken out in order to guarantee adequate financial coverage of the end -of-term benefits provided for the Directors.

The value of the asset relating to the insurance policies recorded in the financial statements has been valued according to the value of the premiums paid.

The item security deposits mainly reflects the receivable for security deposits issued under the lease agreements for the properties relating to the Group's production and management offices.

7. Inventories

Inventories are valued using the FIFO method and are composed as follows:

(In euros)

Other intangible fixed assets 31-Dec-25 Additions Reclassifications Depreciation 30-Jun-26 Patent rights 559,944 5,200 37,000.00 106,674 495,470

R&D 43 - 43

Intangible assets in progress 116,657 58,374 (37,000) - 143,260 Total 676,644 63,574 - 106,674 638,774 Other non current assets 30-Jun-26 31-Dec-25 Change % Change Insurance poilcies 591,664 591,664 - 0% Guarantee deposits 71,818 66,816 5,002 7% Ires refund receivables 6,700 6,700 - 0% Others 2,153 2,116 37 2% Total non current assets 672,335 667,296 5,039 1%

25

The value of inventories is shown net of the provision for obsolescence of EUR 2,395 thousand, which changed as follows during the half -year:

The gross value of the inventory as at 30 June 2026 is up compared to 31 December 2025 due to a time mismatch between the usual timing of purchases and the flow of orders from customers.

The provision for obsolescence (attributable 20% to the category of internally produced and purchased semi -

finished products, 25% to the category of finished products and 55% to the category of raw materials, ancillary materials and consumables) was estimated following analyses carried out on the basis of the recoverability of inventory values.

8. Trade receivables Receivables from customers relate to normal sales transactions with domestic and foreign customers and are made up as follows:

(In euros)

The gross value of trade receivables is substantially unchanged compared to 31 December 2025. There are no significant exposures to Russian or Ukrainian customers.

9. Current tax assets The assets in question as at 30 June 2026 amounted to EUR 1,538 thousand (EUR 1,167 thousand as at 31 December 2025). The balance shows the net credit position for current taxes.

10. Other current assets The other current assets are as follows:

(In euros)

Inventories 30-Jun-26 31-Dec-25 Change % Change Row materials and consumables 10,622,078 9,863,545 758,532 8% Work in progress and semi-finished 17,511,984 15,645,762 1,866,222 12% Finished goods 6,375,642 6,301,487 74,155 1% Gross Total 34,509,704 31,810,795 2,698,909 8% Provision for inventory writedowns (2,395,110) (2,462,214) 67,104 -3% Net Total 32,114,594 29,348,581 2,766,013 9% Change in provision for inventory writedowns 31-Dec-25 Increase UseForeign

Exchange 30-Jun-26

Provision for inventory writedowns 2,462,214 44,975 (145,283) 33,204 2,395,110 Total 2,462,214 44,975 (145,283) 33,204 2,395,110 Trade receivables 30-Jun-26 31-Dec-25 Change Change % Trade receivables 20,510,543 20,820,799 (310,256) -1% (Provision for doubtful accounts) (453,736) (418,912) (34,824) 8% Total 20,056,807 20,401,887 (345,080) -2% Other current assets 30-Jun-26 31-Dec-25 Change % Change Receivables towards supplier 426,382 372,327 54,055 15% Securities 6,384,282 7,549,323 (1,165,042) -15% Other tax receivables 781,598 1,558,486 (776,888) -50% Other minor receivables 684,089 245,870 438,218 178% Total other receivables 8,276,350 9,726,006 (1,449,656) -15% Total prepaid expenses and accrued income 1,066,307 950,564 115,743 12% Total current assets 9,342,657 10,676,571 (1,333,913) -12%

26 The item securities in portfolio refers to asset management denominated in euros and held for the purpose of short -term liquidity use. These securities were valued at fair value and the presumed profit (equal to EUR 139 thousands ) was recognised in the income statement under financial income. It should be noted that a pledge has been established on part of the securities portfolio to guarantee outstanding bank overdrafts. The decrease in the period is due to the liquidation, which took place in April, of part of the securities portfolio with the achievement of a capital gain of EUR 13 thousands .

The item other tax receivables refers to the VAT credit and the credit for withholdings made during the period.

The item other receivables refers, for EUR 306 thousand, to the receivable due from the US customs authority for the reimbursement of import duties paid during 2025 and 2026 and declared illegitimate by the ruling of the US Supreme Court in February of thi s year. The receivable was fully collected in July.

The item accrued income and prepaid expenses includes prepaid expenses for service fees and insurance.

11. Cash and cash equivalents As required by Consob communication no. DEM/6064293 of 28 July 2006 and in accordance with the Guidelines on disclosure requirements pursuant to EU Regulation 2017/1129 (the "Prospectus Regulation") issued by ESMA and explicitly referred to by Consob in its Notice no. 5/21 of 29 April 2021, it is reported that the Group's net financial position as at 30 June 2026 is as follows:

(In thousands of euros)

(a) Information extracted and/or calculated from the financial statements prepared in accordance with the IFRS adopted by the Eur opean Union.

The items "Current portion of non -current financial debt" and "Non -current financial debt" also include financial liabilities for rights of use relating to the accounting of leasing contracts according to IFRS 16, the amounts of which as at 30 June 2026 an d 31 December 2025 are detailed in the table below.

We provide below a reconciliation statement between the final net cash and cash equivalents shown in the Consolidated Cash Flow Statement and the net financial debt shown above.

For further details on the change in cash and cash equivalents, please refer to the attached Consolidated Cash Flow Statement.

30 june 31 december (values in Euro thousands) 2026 (a) 2025 (a) Change A. Cash 14,245 13,969 2% C. Other current financial assets 6,384 7,549 -15% D. Cash and cash equivalent (A+C) 20,630 21,518 -4% E. Current financial indebtness (2,491) (2,467) F. Current portion of non current borrowings (6,694) (6,101) 10% G. Current borrowingse (E+F) (9,185) (8,568) 7% H. Current net financial indebtness (G+D) 11,445 12,949 -12% I. Non current financial indebtness (16,178) (13,166) 23% L. Non current financial indebtness (16,178) (13,166) 23% M. Total financial indebteness (H+L) (4,733) (217) 2083%

30-Jun-26 31-Dec-25

Cash and cash equivalents at end of the period 11,754 11,501 Current portion of non current borrowings (5,222) (4,635) Non current borrowings (12,867) (9,277) Securities held for trading (1,472) (1,466) Other financial current borrowings (3,311) (3,889) Other financial non current borrowings 6,384 7,549 Total net financial position (4,733) (217)

27

12. NET EQUITY

Share Capital

The share capital amounted to EUR 1,089 thousands as at 30 June 2026. Following the continuation of the buy -

back plan for treasury shares as at 30 June 2026, the Parent Company owns 106,017 shares, equal to 0. 96% of the share capital. At the date of preparation of this report (September 2026), the number of treasury shares held has changed, compared to 30 June 2026, and amounts to 108,417 (equal to 0.99% of the share capital).

The following table shows the change s in the number of Parent Company shares outstanding in the first half

of 2026:

Other reserves

This item, amounting to EUR 5,972 thousand as at 30 June 2026, consists of the legal reserve for EUR 379 thousand, the extraordinary reserve for EUR 44 thousand, the reserve for unrealised exchange gains for EUR 55 thousand and the share premium reserve fo r the remainder.

In particular, the share premium reserve, which originated when the Parent Company's ordinary shares were placed, decreased by EUR 5.70 thousand euros during the six -month period under review following the recognition of transactions carried out on treasur y shares.

Foreign exchange reserve This item, amounting to EUR 487 thousand as at 30 June 2026, includes exchange differences arising from the conversion of financial statements in currencies other than the euro. This reserve increased by EUR 291 thousands following the recognition of the components of the comprehensive income statement relating to the conversion of financial statements in foreign currency.

Retained earnings

This item includes the following reserves:

Retained earnings

This includes the results of previous years net of the distribution of dividends.

Actuarial measurement reserve for employee benefit funds This item includes the effect on shareholders' equity of the actuarial component of severance pay.

Result of the period This item includes the net result for the period of EUR 6,174 thousands and other profits/(losses) for the period for a negative value of EUR 4 thousands relating to the component deriving from the actuarial valuation of severance pay. This financial component is shown, net of the related tax effect, in the other components of the comprehensive income statement.

The following tables show the effects recognised in the other components of the Comprehensive Income

Statement:

Reconciliation of the number of outstanding sharesOutstanding shares

(n.)

December 31, 2025 10,939,603 Treasury shares purchased (45,620) Treasury Shares sold -

June 30, 2026 10,893,983

28

Earnings per share Earnings per share have been calculated as indicated by IAS 33. The value of this indicator is EUR 0.32 per share (EUR 0.52 in the first half of 2025). This indicator was calculated by dividing the profit attributable to the shareholders of the Parent Comp any by the weighted average of the ordinary shares outstanding during the period. There are no dilutive factors to report.

13. Long-term borrowings This item is made up as follows:

(In euros)

The table below illustrates the changes in financial debt for the non -current and current portions:

Foreign exchange

reserveRetained earnings Total Group Minority interestsTotal other

comprehensive

income/(losses)

Euro Thousand

June 30, 2026 Other comprehensive income/(losses) for the year that will not be reclassified in icome statement:

Actuarial gain/(losses) on DBO (net of tax) (4) (4) (4) Total - (4) (4) - (4) Other comprehensive income/(losses) for the year that will be reclassified in icome statement:

Exchange differences on translating foreign operations 291 291 - 291 Total 291 - 291 - 291 Other comprehensive income/(losses) for the year: 291 (4) 287 - 287 June 30, 2005 Other comprehensive income/(losses) for the year that will not be reclassified in icome statement:

Actuarial gain/(losses) on DBO (net of tax) 6 6 6 Total - 6 6 - 6 Other comprehensive income/(losses) for the year that will be reclassified in icome statement:

Exchange differences on translating foreign operations (559) (559) - (559) Total (559) - (559) - (559) Other comprehensive income/(losses) for the year: (559) 6 (553) - (553) Gross value Fiscal effect Net value Gross value Fiscal effect Net value

Euro thousand

Actuarial gain/(losses) on DBO - 6 2 4 - 8 (2) 6 Exchange differences on translating foreign operations 291 291 (559) (559) Other comprehensive income/(losses) 285 2 287 (551) (2) (553)June 30, 2026 June 30, 2025 Long term borrowings 30-Jun-26 31-Dec-25 Change Change % Loan BNL 6177935 714,286 1,071,429 (357,143) -33% Loan BNL 6182481 2,857,143 3,571,429 (714,286) -20%

Loan INTESA 0IC1023362662 3,132,811 3,887,867 (755,056) -19%

Loan Intesa 0IC1021541583 128,242 507,215 (378,973) -75% Loan Simest 18 sound 63,036 63,035 0 0% Loan Simest - PP33867 60,000 120,000 (60,000) -50%

SIMEST S.p.A. - 901490/DE 98,438 56,000 42,438 76%

Loan BNL 6187323 2,571,429 - 2,571,429

Loan INTESA 0IC1049730029 3,241,588 - 3,241,588

Long-term borrowings 12,866,972 9,276,975 3,589,998 39%

29

The following tables show the main characteristics and conditions of the aforementioned loans.

(In euros)

Change in borrowings 31-Dec-25 Refunds New borrowingsReclassification current portion 30-Jun-26 Non current portion Bank borrowings 9,276,975 - 6,556,500 (2,966,502) 12,866,973 Total non current borrowings 9,276,975 - 6,556,500 (2,966,502) 12,866,973

Curent portion

Bank borrowings 4,635,453 (2,380,405) - 2,966,502 5,221,551 Total current borrowings 4,635,453 (2,380,405) - 2,966,502 5,221,551 Totale current and non current 13,912,428 (2,380,405) 6,556,500 - 18,088,523 Loan details Loan 0IC1021541583Loan Intesa 0IC 1023362662Loan BNL 6177935 Lender Intesa S. Paolo S.p.A. Intesa S. Paolo S.p.A.Banca Nazionale del Lavoro S.p.A.

Original amount 2,500,000 5,000,000 2,500,000 Contract date 30-Aug-23 23-Apr-25 10-Apr-24 Due date 30-Aug-27 23-Apr-29 10-Apr-28 N. installments 42 14 14 N. advanced installments 6 2 2 Periodicity monthly quarterly quarterly Interest rateEuribor 1M (base 360) zero floor + spread 0,95%Euribor 3M + 0,60 %Euribor 3M + spread

0,85%

Current Portion 749,465 1,499,178 714,286 Non current portion 128,242 3,132,811 714,286 Loan details Loan BNL 6182481Loan Simest - 18 soundLoan Simest -

PP33867

LenderBanca Nazionale del Lavoro S.p.A.Sace Simest Sace Simest Original amount 5,000,000 36,021 480,000 Contract date 23-Apr-25 3-Dec-24 31-Mar-21 Due date 23-Apr-29 3-Jun-30 31-Dec-27 N. installments 14 12 8 N. advanced installments 2 1 5 Periodicity quarterly half yearly half yearly Interest rate Euribor 3M + 0,60 % 0.40% 0.55% Current Portion 1,428,571 9,005 120,000 Non current portion 2,857,143 63,036 60,000

30

Non -current financial debt does not include financial liabilities maturing in more than five years.

The Group's financing activity is aimed at supporting investments and providing the necessary cash flexibility to finance working capital.

The loans described above are not subject to covenants or negative pledge commitments on the part of the Group.

It is specified that, in relation to loans 0IC1021541583 and 0IC1023362662 with Intesa SanPaolo S.p.A., the Parent Company may obtain a reduction in the interest rate applied subject to the achievement of a share of turnover allocated to welfare programmes .

Finally, it should be noted that the Simest loans, although not providing for any early repayment, do provide, upon the occurrence of certain conditions, for an increase in the interest rate with respect to the contractually agreed subsidised rate.

The following tables show the main characteristics of the existing "Collar" type hedging contracts.

14. Financial liabilities for rights of use (current and non -current portion) As at 30 June 2026, the financial liabilities for rights of use, calculated by discounting the value of the leasing instalments due, amounted to EUR 4,783 million, of which EUR 3,311 million was classified among non -current liabilities and EUR 1,472 millio n among current liabilities.

The change compared to 31 December 2025 is linked to the net effect of the payment of the instalments due in the half -year.

Non -current liabilities for rights of use include financial liabilities maturing in more than five years for EUR 835 Loan details Loan Simest 901490/DELoan BNL

6187323Loan INTESA

0IC1049730029

Lender Sace SimestBanca

Nazionale del

Lavoro S.p.A.Intesa S. Paolo S.p.A.

Original amount 56,250 3,000,000 3,500,000 Contract date 18-Feb-25 23-Apr-26 23-Apr-26 Due date 10-Dec-30 23-Apr-30 23-Apr-30 N. installments 8 14 13 N. advanced installments 4 2 3 Periodicity half yearly quarterly quarterly Interest rate 0.55% 0.60% 0.60% Current Portion 14,062 428,571 258,412 Non current portion 98,438 2,571,429 3,241,588 Derivative instruments details BNL 6187323 INTESA 0IC1049730029 CounterpartBanca Nazionale del Lavoro S.p.A.Intesa S.Paolo S.p.A.

Type of contract Interest Rate Swap (IRS) Interest Rate Swap (IRS) PurposeHedging of interest variability risk associated with the BNL Group loanHedging of interest variability risk associated with the Banca

Intesa loan

Original amount 3,000,000 5,000,000 Periodicity Quarterly Quarterly Bank Interest Rate Euribor 3 months Euribor 3 months Company Interest Rate 0.60% 0.60% Contract date 23 April 2026 23 April 2025 Due date 23 April 2030 23 April 2029 Mark to market amount at June 30, 2026 (11,158) (10,057)

31 thousands .

The marginal interest rates defined by the Group are reviewed on a recurring basis and applied to all contracts with similar characteristics, which have been considered as a single portfolio of contracts. The rates are determined starting from the Parent C ompany's average effective borrowing rate, appropriately adjusted based on the requirements of the new accounting rules, to simulate a theoretical marginal interest rate consistent with the contracts being valued. The most significant elements considered i n the rate adjustment are the credit -risk spread of each country observable on the market and the different duration of the lease agreements. The leasing contracts do not include covenants.

15. Provisions relating to personnel and similar The item includes the liability accrued in relation to the Employee Severance Indemnity Fund and the liability accrued for the Directors' Termination Indemnity.

For the purpose of recognising the Employee Severance Indemnity Fund, the financial -actuarial value of the liability was recalculated for each employee in order to recognise a liability similar to that arising in defined benefit pension plans, in accordanc e with the provisions of IAS 19. This provision is shown net of advances paid and settlements made following resignations during the period under review.

The present value of the liability for severance indemnities in accordance with the provisions of IAS 19 is EUR 328 thousands (EUR 317 thousands as at 31 December 2025).

The technical and economic bases used for the valuation of the severance indemnity are shown below:

With regard to the discount rate, the IBoxx Corporate AA index for June 2026 with a duration of 7 to 10 years was taken as a reference for the valuation (in line with the average length of service of the group being valued).

In compliance with the provisions of IAS 19, the following tables provide:

- a sensitivity analysis for each relevant actuarial assumption at the end of the period, showing the effects that would have occurred as a result of changes in the actuarial assumptions reasonably possible at that date, in absolute terms;

- indication of the contribution for the following year;

- an indication of the average financial duration of the obligation for defined benefit plans.

30-Jun-26

Technical annual discounting rate 4.02% Annual inflation rate 2.00% Tasso annuo incremento TFR 3.00%Technical parameters

DBO 30-june-2026

Turnover rate +1% 329,410 Turnover rate -1% 326,543 Inflation rate + 0,25% 331,648 Inflation rate - 0,25% 324,504 Discount rate + 25% 323,082 Discount rate - 25% 333,147 Sensitivity analysis

Year Amount

1 40,115

2 36,955

3 36,821

4 36,486

5 35,948 Estimated future payments

32

The provision for Directors' Termination Benefits as at 30 June 2026 amounts to EUR 613 thousands (EUR 594 thousands as at 31 December 2025) and, for the purpose of its recognition, the portion accrued during the period under the existing agreement has been allocated to the provision for each Director. The change compared to 31 December 2025 is a consequence of the prov ision made during the period.

16. Provisions for risks and charges As at 30 June 2026, the item, amounting to EUR 44 thousands (unchanged from 31 December 2025), includes the provision to cover the risk of warranty service for the Group's products.

17. Short -term borrowings This item is made up as follows:

(In euros)

For details on the conditions of the outstanding loans, please refer to Note 13.

For further details on the cash flows that led to the change in short -term financial debt, please refer to the attached Consolidated Cash Flow Statement.

18. Trade payables This item includes payables to suppliers and includes provisions for invoices to be received.

(In euros)

The increase in trade payables is due to higher production volumes in the period.

19. Current tax liabilities This item as at 30 June 2026 amounts to EUR 204 thousands (EUR 15 thousands as at 31 December 2025) and reflects the net debt position of some Group companies.

Service Cost 0.00 Duration 10.00Service Cost and Duration Short term borrowings 30-Jun-26 31-Dec-25 Change Change % Loan 0IC1021541583 749,465 732,693 16,772 2% Loan BNL 6177935 714,286 714,286 0 0% Loan BNL 6182481 1,428,571 1,428,571 0 0%

Loan INTESA 0IC1023362662 1,499,178 1,112,133 387,045 35%

Loan Intesa 0IC1076967680 0 287,348 (287,348) -100% Loan BNL 6169054 0 208,333 (208,333) -100% Loan BNL 6173021 0 23,082 (23,082) -100% Loan Simest 18 sound 9,005 9,006 Loan Simest - PP33867 120,000 120,000 0 0%

SIMEST S.p.A. - 901490/DE 14,062 0 14,062

Loan BNL 6187323 428,571 0 428,571

Loan INTESA 0IC1049730029 258,412 0 258,412

Short-term borrowings 5,221,551 4,635,453 586,098 13% Bank overdrafts 2,490,836 2,466,851 23,985 1% Total 7,712,388 7,102,304 610,083 9% Trade payables 30-Jun-26 31-Dec-25 Change % Change Trade payables 9,739,496 10,472,853 (733,357) -7% Total trade payables 9,739,496 10,472,853 (733,357) -7%

33 20. Other current liabilities This item is made up as follows:

(In euros)

The item "Accrued Personnel Costs" includes accruals for the thirteenth month's salary as well as the payable for residual leave as at 30 June 2026.

The category "Payables to staff for salaries" includes payables for wages and salaries not yet paid as at 30 June 2026 and settled by the third working day of the following month.

The item "Other payables" includes the payable for directors' fees in addition to advances received from customers.

21. Outstanding commitments, guarantees and disputes As at 30 June 2026, as well as at 31 December 2025, there are no guarantees given to third parties by companies belonging to the Group, with the exception of the fact that part of the securities portfolio has been pledged as a guarantee for outstanding ban k overdrafts.

With regard to litigation, there is an ongoing lawsuit with a former director of a Group subsidiary. At the date of preparation of these financial statements, the risk of losing the case was estimated, also with the support of external lawyers appointed by the Group, as possible.

Analysis of the breakdown of the main items of the consolidated income statement for the period ended 30 June 2026

22. Revenues

The table below shows the change in revenues by geographical area:

(In euros)

The item in question can only be broken down in relation to the geographical area of reference for sales, as the Group's business sector is exclusively identifiable as the production and sale of "high -quality professional loudspeakers".

In this scenario, the Group continued to benefit from its broad geographical diversification, recording significant growth in several areas: Italy +44% and Latin America +26%. Europe remains the Group's leading geographical area, accounting for 50.0% of consolidated revenues, followed by North America with 18.2% and Asia-Pacific with 13.9%.

Other current liabilities 30-Jun-26 31-Dec-25 Change % Change Due to social security funds 696,815 734,795 (37,980) -5% Unused vacation time and holidays 1,362,140 940,021 422,119 45% Due to personnel 1,110,513 793,426 317,087 40% Other tax liabilities 206,937 360,369 (153,432) -43% Other liabilities 621,624 924,580 (302,957) -33% Total current liabilities 3,998,029 3,753,192 244,838 7% Geographical Area I half 2026 % I half 2025 % Change Change % Latin America 3,923,877 8.3% 3,112,720 6.1% 811,157 26% Europe 23,510,106 50.0% 26,337,483 52.0% (2,827,377) -11% Italy 3,996,056 8.5% 2,774,622 5.5% 1,221,434 44% North America 8,562,761 18.2% 9,612,815 19.0% (1,050,055) -11% Middle East & Africa 482,000 1.0% 376,782 0.7% 105,218 28% Asia & Pacific 6,539,505 13.9% 8,446,836 16.7% (1,907,331) -23% Total 47,014,303 100.0% 50,661,257 100.0% (3,646,954) -7%

34 The ability to develop the business in markets characterised by different dynamics is a structural element of the B&C Speakers model and helps to limit the Group's exposure to fluctuations in demand in individual areas.

23. Cost of sales The item is made up as follows (amounts in euros):

The decrease in the cost of sales is essentially due to the decrease in the purchase volumes necessary to support the production volumes for the half -year.

The impact of the cost of sales on revenues remained substantially stable compared to the same period in 2025, rising from 62.2% to 62.5%. This trend is due to: (i) a recovery in margins on the variable part of the cost of sales, which ensured a recovery o f approximately 0.9 points in margins compared to the first half of the previous year, (ii) a slight contraction in margins of 0.8 points due to the increase in the incidence of personnel costs, and (iii) an increase in the incidence of costs for duties an d transport, which led to a loss in margins of approximately 0.6 percentage points.

24. Other revenues This category, amounting to EUR 168 thousands in the first half of 2026 (EUR 234 thousands in the first half of 2025), mainly refers to the recovery of expenses.

25. Indirect personnel This category refers to costs for R&D personnel, clerical staff, managers and workers not directly associated with the production process. The item is made up as follows (amounts in euros):

26. Commercial expenses Selling expenses amount to EUR 890 thousands (EUR 686 thousands in the first half of 2025) and essentially refer to commercial consultancy as well as the cost of trade fairs for related commercial activities. The increase recorded mainly reflects business development activities and initiatives aimed at strengthening the Group's presence in international markets and supporting strategic growth directions.

27. General and administrative expenses General and administrative expenses of EUR 4,130 thousands (EUR 4,184 thousands in the first half of 2025) remained substantially in line with the corresponding figure for the first half of 2025.

28. Amortisation , depreciation and write -backs (net write -downs) of trade and other receivables The item is made up as follows (amounts in euros):

Cost of sales I half 2026 I half 2025 Change Change % Consumption of production materials 20,283,073 22,389,634 (2,106,561) -9% Direct labour 6,850,464 6,963,199 (112,734) -2% Freight 1,768,287 1,676,949 91,339 5% Duties, commissions and other minor costs 488,328 461,705 26,624 6% Totale Cost of Sales 29,390,153 31,491,486 (2,101,333) -7% Cost of indirect labour I half 2026 I half 2025 Variazione Variazione % Retribution 3,092,582 3,035,319 57,263 2% Social charges 462,105 452,719 9,386 2% Severance indemnity 98,785 89,656 9,129 10% Total cost of indirect labour 3,653,472 3,577,694 75,778 2%

35 Depreciation of tangible fixed assets increased as a result of investment activity during the period.

29. Financial income and expenses Financial income amounted to EUR 968 thousand (EUR 747 thousand in the first half of 2025) and mainly includes financial income deriving from the fair value measurement of securities held for the use of liquidity for EUR 139 thousand, realised and unrealis ed positive exchange rate differences for EUR 638 thousand, and interest income on current accounts amounting to EUR 177 thousand.

Financial expenses amount to EUR 511 thousand (EUR 2,320 thousand in the first half of 2025) and mainly include the presumed loss deriving from the fair value measurement of derivative contracts for EUR 21 thousand, realised and unrealised negative exchange rate differences for EUR 137 thousand, interest expense on loans, bank overdrafts and rights of use for EUR 353 thousand (of which EUR 93 thousand relates t o financial expenses connected with the measurement of rental contracts according to IFRS 16).

30. Taxes for the period The item, including current and deferred taxes, amounts to EUR 2,059 thousand (EUR 2,209 thousand in the first half of 2025).

The tax burden for the period, calculated on the basis of the best estimate of the expected annual tax rate for the entire year, represents 25.2% of the Profit before tax (27.9% in the first half of 2025).

31. Transactions with related parties and subsidiaries under their management The transactions that took place during the first half of 2026 with related parties and information on relations with related parties are summarised below on the basis of the requirements of Consob Communication no.

DEM/6664293 of 28 July 2006.

The related parties have been identified by the Directors as the parent company Research & Development International S.r.l. , a company that exercises management and coordination activities over the issuer, with registered office in Florence, Viale dei Mille 60, tax code 02342270481, share capital EUR 90 thousands , which held, as at 30 June 2025, 52.73% of the shares of B&C Speakers S.p.A.

Economic transactions

(In euros)

These financial charges (accounted for following the application of IFRS 16) refer to the implicit interest of the financial liability outstanding towards "Research & Development International S.r.l. " for the lease contracts of the properties mentioned above.

Amortization, depreciation and writedowns I half 2026 I half 2025 Change Change % Amortization of intangible assets 120,035 91,031 29,003 32% Depreciation of tangible assets 460,245 601,224 (140,979) -23% Depreciation of right of use 733,638 763,245 (29,607) -4% Total amortizations and depreciations 1,313,917 1,455,500 (111,975) -8% Total value write-backs (write-downs) of trade and other receivables 10,286 12,723 (2,437) -19% Financial costs TotalResearch &

Development

Intl. SrlTotal related parties Incidence % I half 2026 (511,693) (21,035) (21,035) 4% I half 2025 (2,320,279) (30,908) (30,908) 1%

36 Financial Relation ships

(In euros)

The credit position of Research & Development International S.r.l. outstanding as at 30 June 2026 relates to the IRES refund credit originating in 2012 following the request for refund made by the Parent Company for the years in which the Group companies made use of tax consolidation.

The outstanding financial liabilities to Research & Development International S.r.l. refer to the financial debt implicit in the aforementioned lease agreements, accounted for following the application of IFRS 16.

Pursuant to Article 2.6.2. paragraph 13 of the Regulation of Markets Organised and Managed by Borsa Italiana S.p.A., the existence of the conditions referred to in Article 37 of Consob Regulation No. 16191/2007 is hereby certified.

Transactions with related parties were carried out under conditions equivalent to those prevailing in free transactions between independent parties.

32. Transactions arising from non -recurring operations Pursuant to the Consob Communication of 28 July 2006, it is specified that no non -recurring transactions took place during the first half of 2026.

33. Transactions arising from atypical and/or unusual operations Pursuant to the Consob Communication of 28 July 2006, it is specified that during the first half of 2026 the Group did not carry out any atypical and/or unusual transactions, as defined by the Communication itself.

Other non current assets TotalResearch &

Development

Intl. SrlTotal related parties Incidence % 30 june 2026 672,335 6,700 6,700 1% 31 december 2025 667,296 6,700 6,700 1% Long-term lease liabilities TotalResearch &

Development

Intl. SrlTotal related parties Incidence % 30 june 2026 (3,310,655) (642,390) (642,390) 19% 31 december 2025 (3,889,224) (1,088,005) (1,088,005) 28% Short-term lease liabilities TotalResearch &

Development

Intl. SrlTotal related parties Incidence % 30 june 2026 (1,472,198) (950,510) (950,510) 65% 31 december 2025 (1,465,785) (983,899) (983,899) 67% Trade liabilities TotalResearch &

Development

Intl. SrlTotal related parties Incidence % 30 june 2026 (9,739,496) (88,719) (88,719) 1% 31 december 2025 (10,472,853) (89,682) (89,682) 1%

37 34. Information on financial risks The Group's activities are exposed to a variety of financial risks: market risk (including foreign exchange risk and price risk), credit risk, interest rate risk and liquidity risk. The strategy adopted by the Group regarding the management of financial ri sks is based on the impossibility of being able to influence external markets and consequently the strategy adopted focuses on trying to reduce the negative effects on the Group's financial performance.

Foreign exchange risk The Group operates internationally and is therefore exposed to exchange rate risk arising from the trend in exchange rates for foreign currencies, mainly the US dollar, the Canadian dollar and the Brazilian real; the exchange rate risk will manifest itself through future transactions; the Group does not carry out any specific hedging of this risk except for seeking, in the long term, to rebalance the flows of sales and purchases, especially in the dollar area.

Credit risk

The Group does not have significant concentrations of credit risk as the strategy adopted is aimed at placing trust in customers with a favourable credit rating. For the riskiest or least known positions, payment is required in advance of delivery.

Despite the persistence of a disrupted macroeconomic situation, at the date of preparation of this half -yearly financial report, there are no situations of significant non -performing loans. However, it cannot be ruled out that this may happen in the future .

Finally, there are no significant exposures to Russian or Ukrainian customers.

Interest rate risk The Group has no outstanding financial assets or liabilities of such a magnitude as to significantly affect the Group's profitability. Therefore, although the Group is not significantly affected by interest rate trends, management has equipped itself with adequate instruments to hedge the risk of interest rate fluctuations, in particular on certain medium - to long -term loans, by entering into "Collar" derivative contracts. For more details in this regard, please refer to the detailed description in Note 14.

Liquidity risk

As at 30 June 2026, the Group has a negative Net Financial Position of EUR 4.7 million (negative by EUR 0.2 million as at 31 December 2025). This is the result of a positive current NFP of approximately EUR 11.4 million (positive by EUR 12.9 million as at 31 December 2025) and non -current financial debt of EUR 16.2 million (EUR 13.2 million as at 31 December 2025). For the characteristics of the loans in question, please refer to Note 13.

The Group believes that the short - and medium/long -term credit lines and the funds currently in place, in addition to those that will be generated by operating activities, will enable it to meet its needs and fulfil its obligations related to investment ac tivities, the management of working capital and the repayment of debts at their contractual maturity.

35. Hierarchical levels of fair value measurement In relation to financial instruments recognised in the statement of financial position at fair value, IFRS 7 requires that these values be classified on the basis of a hierarchy of levels that reflects the significance of the inputs used in determining the fair value. The following levels are distinguished:

level 1: quoted prices in an active market for the asset or liability being measured;

level 2: inputs other than the quoted prices referred to in the previous point, which are directly (prices) or indirectly (derived from prices) observable on the market;

level 3: inputs that are not based on observable market data.

38 The following table shows the assets and liabilities that are measured at fair value as at 30 June 2026, by hierarchical level of fair value measurement:

It is specified that, compared to 31 December 2025, there have been no changes between the hierarchical levels of fair value.

The Group measures its financial assets and liabilities at amortised cost, with the exception of asset management shown under other current assets and Collar hedging contracts , which are measured at fair value through profit and loss.

36. Subsequent events At the date of preparation of this half -yearly report, there have been no further events occurring after 30 June 2026 that would require additional notes to this half -yearly report.

37. Authorisation for publication This document was published on 10 September 2026 with the authorisation of the Chief Executive Officer.

Hierarchical level of Fair Value measurement Level 1 Level 2 Level 3

Financial assets

Other current assets 6,384,282 - -

Total 6,384,282 - -

Financial liabilities

Interest Rate Swap - (21,215) -

Total - (21,215) -

39

Certification of the condensed Consolidated Interim Financial Statements under the terms of Article 154 -bis of Italian Legislative

Decree 58/98

1. The undersigned, Lorenzo Coppini as Chief Executive Officer and Francesco Spapperi as the Financial reporting Manager of B&C Speakers S.p.A., hereby certify, also in view the of Article 154 -bis, paragraphs 3 and 4, of Italian Legislative Decree No. 58 of 24 February 1998:

- the adequacy with regard to the characteristics of the company, and

- the effective application of the administrative and accounting procedures for formation of the condensed interim financial statements, during the first half of 2026.

2. We can also confirm that:

2.1 the condensed consolidated interim financial statements:

- have been prepared in accordance with the applicable international accounting standards recognised in the European Community pursuant to Regulation (EC) No 1606/2002 of the European Parliament and of the Council of 19 July 2002 as well as the measures enacted to implement Article 9 of Italian Legislative Decree 38/2005;

- correspond to the results of the accounting ledgers ;

- are capable of providing a fair and correct representation of the assets and liabilities, and the economic and financial situation of the issuer and of all the companies included in the consolidation scope.

2.2 the interim report on operations includes a reliable analysis of the references to the significant events occurred in the first six months of the year and their impact on the condensed interim financial statements, together with a description of the main risks and uncertainties for the remaining six months of the year. The interim report on operations also includes a reliable analysis of the information on significant transactions with related parties.

Florence, 10 September 2026

Lorenzo Coppini Francesco Spapperi

40 Independent Auditors ’ Report

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