Half year financial report at June 30, 2026

INTERIM

FINANCIAL

REPORT

AT

30

JUNE

2026

Intentionally blank page The Interim Financial Report at 30 June 2026 has been translated from the Italian original solely for the convenience of international readers. The Italian version shall always prevail in case of any discrepancy or inconsistency between Italian version and its English translation.

SUMMAR Y

1 The De’ Longhi Group

Page

3

Corporate Bodies

Page

3

Key performance indicators

Page

4

2 Interim report on operations

Page

7

3 Half-year condensed consolidated financial statements

Page

25

Consolidated financial statements:

25

Consolidated income statement

Page

25

Consolidated statement of comprehensive income

Page

26

Consolidated statement of financial position

Page

27

Consolidated statement of cash flows

Page

29

Consolidated statement of changes in net equity

Page

30

Explanatory notes

Page

31

Certification of the half-year condensed consolidated financial statements pursuant to art. 81-ter of Consob Regulation 11971 dated 14 May 1999 and subsequent amendments and additions Page 82

External auditors' report on the limited review of the half-year condensed consolidated financial statements Page 83

De’ Longhi S.p.A. Interim financial report at 30 June 2026 01 The

De’

Longhi

Group

CORPORA TE BODIE S*

Board of Directors Fabio de' Longhi Chairman and Chief Executive Officer Silvia de' Longhi Vice Chairman Massimiliano Benedetti** Director Ferruccio Borsani** Director Luisa Maria Virginia Collina Director Christophe Olivier Cornu ** Director Cristina Finocchi Mahne ** Director Carlo Garavaglia Director Carlo Grossi ** Director Micaela Le Divelec Lemmi ** Director Stefania Petruccioli Director Nicola Serafin Director Board of Statutory Auditors Cecilia Andreoli Chairman Alessandra Dalmonte Standing auditor Marcello Francesco Priori Standing auditor Gianluca Bolelli Alternate auditor Daniela Travella Alternate auditor

External Auditors

PricewaterhouseCoopers S.p.A. *** Control, Risks, Corporate Governance and Sustainability Committee Micaela Le Divelec Lemmi ** Chairman Cristina Finocchi Mahne ** Stefania Petruccioli Remuneration and Appointments Committee Carlo Grossi ** Chairman Ferruccio Borsani** Carlo Garavaglia

Independent Committee

Ferruccio Borsani** Chairman and Lead Independent Director Carlo Grossi ** Micaela Le Divelec Lemmi ** * The current corporate bodies were appointed during the Shareholders’ Meeting held on 30 April 2025 for the three-year period 2025-2027.

** Independent directors.

***

Assigned

by

the

shareholders'

meeting

of

19

April

2018

for

the

financial

years

2019-2027.

3

De’ Longhi S.p.A. Interim financial report at 30 June 2026 01 The

De’

Longhi

Group

KEY PERF ORMANCE INDICA TORS

Results

( €

/million)

2nd

Quart er

% 2nd

Quart er

%

Chang e

Chang e

%

2026

2025

Revenues

898.7

100.0%

829.0

100.0%

69.7

8.4%

Revenues at constant

exchange

rates

903.4

100.0%

827.3

100.0%

76.1

9.2%

Net

indus trial

margin

476.7

53.0%

442.5

53.4%

34.2

7.7%

EBITD A

adjus ted

157.7

17.6%

124.4

15.0%

33.3

26.8%

EBITD A

157.7

17.5%

120.6

14.5%

37.1

30.8%

EBIT

126.2

14.0%

87.7

10.6%

38.5

43.9%

Net

Result

97.0

10.8%

66.6

8.0%

30.5

45.8%

Net Result pertaining to the

Group

79.7

8.9%

59.3

7.1%

20.5

34.5%

( €

/million)

1st

Half

% 1st

Half

%

Chang e

Chang e

%

2026

2025

Revenues

1,676.3

100.0%

1,584.2

100.0%

92.1

5.8%

Revenues at constant

exchange

rates

1,706.4

100.0%

1,580.3

100.0%

126.1

8.0%

Net

indus trial

margin

892.0

53.2%

837.3

52.9%

54.7

6.5%

EBITD A

adjus ted

283.7

16.9%

240.7

15.2%

43.0

17.8%

EBITD A

279.8

16.7%

232.5

14.7%

47.3

20.3%

EBIT

217.6

13.0%

167.9

10.6%

49.7

29.6%

Net

Result

169.0

10.1%

129.4

8.2%

39.6

30.6%

Net Result pertaining to the

Group

141.4

8.4%

116.6

7.4%

24.8

21.2%

4

De’ Longhi S.p.A. Interim financial report at 30 June 2026 01 The

De’

Longhi

Group

Household division

( €

/million)

1st Half

2026

% 1st Half

2025

%

Chang e

Chang e

% Chang e % at constant FX

rates

Total

revenues

1,379.8

100.0%

1,364.0

100.0%

15.8

1.2%

3.1%

EBITD A

adjus ted

186.8

13.5%

182.1

13.3%

4.8

2.6%

Professional division

( €

/million)

1st Half

2026

% 1st Half

2025

%

Chang e

Chang e

% Chang e % at constant FX

rates

Total

revenues

302.8

100.0%

222.2

100.0%

80.7

36.3%

40.0%

EBITD A

adjus ted

96.9

32.0%

58.6

26.4%

38.3

65.2%

5

De’ Longhi S.p.A. Interim financial report at 30 June 2026 01 The

De’

Longhi

Group

Statement of financial position

( €

/million)

30/06/2026

30/06/2025

31/12/2025

Net

oper ating

working

capital

172.9

208.3

100.8

Net

oper ating

working

capital/Revenues

4.4%

5.7%

2.7%

Net

working

capital

(14.3)

58.0

(149.4)

Net

capital

emplo yed

1,596.8

1,660.7

1,454.3

Net

financial

asse ts

686.6

345.8

770.0

of

which:

-

net

bank

financial

position

762.7

475.2

861.5

-

other

financial

receivables/(payables)

(76.1)

(129.4)

(91.5)

Net

equity

2,283.5

2,006.5

2,224.3

Introduction and definitions This report contains forward - looking statements, specifically in the “Outlook” section which, by nature, have a component of risk and uncertainty as they depend on future events and developments. At the date of this report, there is a high level of uncertainty which calls for caution when making economic forecasts as the economic prospects continue to change. The actual results could, therefore, differ in relation to various factors.

The figures at constant exchange rates are calculated excluding the effects of converting currency balances and the accounting of derivative transactions.

6

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

INTERIM REPOR T ON OPERA TIONS

Performance review

In the first half of 2026 the De’ Longhi Group achieved positive results in terms of revenue growth, improved

margins

and

financial

flows.

The overall performance, made possible by the growth of the Household division, especially in the second

quarter,

and

by

the

strong

acceleration

of

the

Professional

division,

drove

the

results,

consolidating

the

development

trajectory

undertaken

in

recent

years.

The good performance was supported by targeted initiatives to sustain market expansion and stimulate revenue growth.

In particular, De’ Longhi, in the Household division, continued its activities for innovation and the launch of new

products,

as

well

as

a

renewed

communication

strategy,

supported

by

greater

investments,

the

strengthening

of

capabilities

and

the

accelerated

adoption

of

new

digital

tools.

In the Professional division, the Group can count on the strength of its brands, a product portfolio that includes

automatic

and

semi-automatic

models

and

its

presence

in

the

high-end/premium

domestic

coffee

market,

as

well

as

its

ability

to

intercept

new

trends

in

specialty

coffee.

The positive results, which demonstrate the Group's solidity, are set against a backdrop characterized by high

instability

and

uncertainty

due

to

ongoing

geopolitical

tensions

and

a

complex

macroeconomic

scenario.

In

the

second

quarter

of

2026

revenues

were

€

898.7

million,

an

increase

of

8.4%

compared

to

the

same

period

of

2025

(+9.2%

at

constant

exchange

rates).

First

half

revenues,

amounting

to

€

1,676.3

million,

grew

by

5.8%

compared

to

2025

thanks,

above

all,

to

the

increase

in

sales

volumes

and

despite

a

negative

exchange

rate

effect

due

to

strong

currency

volatility;

at

constant

exchange

rates,

revenue

growth

was

8.0%.

The Household division benefited from the acceleration in the second quarter (+4.5% at current exchange rates)

which

made

it

possible

to

recover

from

the

slight

decline

in

the

first

three

months

of

the

year

and

close

the

half

with

revenues

up

by

1.2%.

The Professional division confirmed the good results of previous periods with strongly accelerating revenues,

+33.2%

in

the

second

quarter,

+36.3%

in

the

six

months,

equal

to

€

163.8

million

and

€

302.8

million

respectively.

From a geographical point of view, revenues showed positive results in all the commercial areas in which the

Group

operates,

with

the

sole

exception

of

the

MEIA

area

which

was

affected

by

the

geopolitical

context

and

the

Gulf

crisis.

In Europe, a decisive acceleration in the second quarter (+9.4%) resulted in a growth of 5.5% in the six months;

above

all,

revenues

of

the

Household

division

recovered,

which

in

the

first

months

of

the

year

had

been

affected

by

excess

trade

inventory.

Revenues in the Americas area, despite a negative exchange rate effect, showed double-digit growth both in the

quarter

(+16.8%

at

current

exchange

rates,

+20.8%

at

constant

exchange

rates)

and

in

the

six

months

(+12.6%

at

current

exchange

rates,

+19.6%

at

constant

exchange

rates).

7

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

The Asia Pacific area maintained a positive trend in the second quarter as well, with revenues growing by 4.0% at

constant

exchange

rates

(+3.1%

at

actual

exchange

rates),

thus

closing

the

half-year

with

an

advance

of

9.9%

at

constant

exchange

rates

(+5.6%

at

current

exchange

rates)

thanks,

above

all,

to

the

positive

performance

of

the

Professional

division

in

all

the

main

reference

markets.

The MEIA area overall recorded a contraction in revenues, also influenced by a negative exchange rate effect (in the

half-year

-3.8%

at

constant

exchange

rates,

-9.3%

at

actual

exchange

rates);

despite

the

context,

the

Professional

division

showed

a

positive

trend,

both

in

the

six

months

and

in

the

second

quarter.

With reference to the business lines, the coffee products category, which represents approximately 70% of the

business,

drove

the

Group's

growth

thanks

to

the

good

results

of

the

Professional

division,

which

continues

to

benefit

from

its

consolidated

leadership

in

the

premium

segments,

and

the

positive

contribution

of

the

Household

division,

especially

in

the

second

quarter.

In the nutrition segment, despite the positive performance of kitchen machines, results were affected by weak

sales

of

personal

blenders

in

the

US

market.

The comfort segment benefited, in Europe, from a favorable summer season which supported and accelerated

sales

of

portable

air

conditioning

products.

Finally, sales of ironing products were up, showing a positive trend in all the main markets, especially in Europe and

North

America.

In order to protect its profitability in a volatile and complex environment, the Group implemented cost efficiency

actions

despite

an

increase

in

investments

in

innovation

and

communication

activities

to

support

a

renewed

strategy,

backed

by

the

enhancement

of

capabilities

and

the

accelerated

adoption

of

new

digital

tools.

In particular, the Group's media and communication strategy has evolved towards an integrated approach that

drives

the

consumer

from

the

first

contact

to

the

purchase

and,

finally,

to

long-term

loyalty,

through

a

wide

range

of

tools.

As part of the renewed communication strategy, with reference to the Household division, the “Perfetto

Instructions

for

Use"

campaign,

featuring

the

Group's

ambassador,

and

the

participation

in

the

Milan

Design

Week

with

“The

World’s

Smallest

Coffee

Shop”

which

received

two

prestigious

awards,

the

“Grand

Prix

for

Industry

Craft”

and

the

“Gold

Lion”

in

the

outdoor

category

at

the

Cannes

Lions

International

Festival

of

Creativity

2026.

In the Professional division, La Marzocco centered its communication on a storytelling that combines

craftsmanship,

design,

hospitality

and

culture.

All

the

main

campaigns

were

amplified

through

a

wider

ecosystem

that

includes

La

Marzocco

Home,

the

Accademia

del

Caffè

Espresso

and

external

partners

to

reach

the

highest

number

of

contacts.

The

“Essence

of

the

Craft”

campaign

and

the

participation

in

the

Milan

Design

Week

with

“Casa

La

Marzocco”

represented

the

main

brand

activation

initiatives,

in

addition

to

numerous

collaborations

with

selected

partners,

interior

designers

and

fashion

brands

(Porsche,

POLSPOTTEN,

Frescobol

Carioca,

among

others).

Eversys continued to strengthen the communication of its brand identity and values through participation in the

“World

of

Coffee”

event,

one

of

the

most

important

international

fairs

dedicated

to

the

specialty

coffee

sector,

held

in

May

in

Bangkok

for

the

third

edition

in

Asia

and

in

June

in

Brussels

for

the

European

leg.

The Group showed improving margins, both in the quarter and in the six months.

The

net

industrial

margin

amounted

to

€

476.7

million

(53.0%

of

revenues)

in

the

second

quarter

of

2026,

an

improvement

in

absolute

terms

compared

to

the

corresponding

period

of

2025

( €

442.5

million,

53.4%

of

revenues).

In

the

half-year,

the

net

industrial

margin

stood

at

€

892.0

million,

or

53.2%

of

revenues

( €

837.3

million,

52.9%

of

revenues

in

the

first

six

months

of

2025).

8

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

EBITDA

adjusted

equal

to

€

157.7

million

in

the

second

quarter

of

2026

was

up

compared

to

2025

( €

124.4

million)

with

a

percentage

of

revenues

increasing

from

15.0%

to

17.6%.

In the first half, it amounted to 283.7 million (16.9% of revenues), an improvement compared to the 2025 figure ( €

240.7

million,

15.2%

of

revenues).

EBITDA

adjusted

benefited

from

a

positive

net

impact

of

€

15.4

million,

recorded

in

the

reference

quarter,

resulting

from

the

reimbursement

of

the

quota

of

IEEPA

tariffs

(imposed

by

the

United

States

starting

from

the

first

months

of

2025

using

the

emergency

powers

provided

by

the

International

Emergency

Economic

Powers

Act),

subsequently

deemed

illegitimate.

The

net

result

for

the

first

half

of

2026

stood

at

€

169.0

million

( €

129.4

million

in

the

corresponding

period

of

2025).

After

recording

€

27.6

million

in

profit

paid

to

minority

shareholders,

the

profit

pertaining

to

the

Group

amounted

to

€

141.4

million,

8.4%

of

revenues

( €

116.6

million,

7.4%

of

revenues

in

the

first

half

of

2025).

Net

operating

working

capital

amounted

to

€

172.9

million,

or

4.4%

of

rolling

revenues,

and

improved

compared

to

30

June

2025

( €

208.3

million,

5.7%

of

revenues)

with

trade

receivables

that

were

affected

by

the

complexity

of

some

reference

markets,

inventories

to

support

the

business

and

suppliers

influenced

by

procurement

timing;

in

comparison

with

31

December

2025

( €

100.8

million,

2.7%

of

revenues),

on

the

other

hand,

it

was

affected

by

the

traditional

seasonality

of

the

business.

Net

working

capital

at

30

June

2026

was

negative

for

€

14.3

million

(positive

for

€

58.0

million

at

30

June

2025;

negative

for

€

149.4

million

at

31

December

2025).

The

net

bank

financial

position

was

positive

for

€

762.7

million

( €

475.2

million

at

30

June

2025;

€

861.5

million

at

31

December

2025).

In

the

first

half

of

2026,

the

net

operating

cash

flow,

positive

for

€

63.6

million

(positive

for

€

11.2

million

in

the

corresponding

period

of

2025),

was

influenced

by

the

cash

flows

generated

by

current

operations,

which

benefited

from

the

expansion

of

the

Professional

division,

and

by

the

trend

in

working

capital.

The

net

operating

cash

flow

at

30

June

2026

for

the

rolling

twelve

months

was

positive

for

€

495.7

million

(an

improvement

compared

to

the

positive

flow

of

€

323.1

million

in

the

twelve

months

to

30

June

2025).

9

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Group results

The reclassified consolidated income statement is summarized as follows:

( €

/million)

1st

Half

%

revenues

1st

Half

%

revenues

2026

2025

Revenues

1,676.3

100.0%

1,584.2

100.0%

Change

5.8%

Materials consumed & other production costs

(production

services

and

payroll

costs)

(784.3)

(46.8%)

(746.9)

(47.1%)

Net

indus trial

margin

892.0

53.2%

837.3

52.9%

Services

and

other

oper ating

expenses

(445.7)

(26.6%)

(431.2)

(27.2%)

Payroll

(non-pr oduction)

(162.6)

(9.7%)

(165.4)

(10.4%)

EBITD A

adjus ted

283.7

16.9%

240.7

15.2%

Change

17.8%

Non-r ecurring

expenses/ shar e-based

plan

(3.9)

(0.2%)

(8.2)

(0.5%)

EBITD A

279.8

16.7%

232.5

14.7%

Amortiz ation

(62.2)

(3.7%)

(64.6)

(4.1%)

EBIT

217.6

13.0%

167.9

10.6%

Change

29.6%

Net

financial

income

(expenses)

5.9

0.4%

1.6

0.1%

Profit

(loss)

before

taxes

223.5

13.3%

169.5

10.7%

Taxes

(54.6)

(3.3%)

(40.1)

(2.5%)

Net

Result

169.0

10.1%

129.4

8.2%

Minority

interests

27.6

1.6%

12.8

0.8%

Net

Result

pert aining

to

the

Group

141.4

8.4%

116.6

7.4%

The reclassified income statement above differs in industrial margin for Euro 152.9 million in the first half 2026 (Euro 150.3 million in the first half 2025)

from

the

consolidated

income

statement

as,

in

order

to

guarantee

a

better

representation

of

the

period

performance,

production-related

payroll

and

service

costs

have

been

reclassified

from

payroll

and

services,

respectively,

and

non-recurring

expenses,

when

applicable,

have

been

separately

reported.

10

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Revenues

In

the

second

quarter

of

2026,

consolidated

revenues

amounted

to

€

898.7

million,

an

increase

of

8.4%

compared

to

the

corresponding

period

of

the

previous

year

(+9.2%

at

constant

exchange

rates).

This positive performance drove the results for the entire half-year, consolidating the growth trajectory

undertaken

in

recent

years.

Revenues

for

the

half-year

amounted

to

€

1,676.3

million,

up

5.8%

thanks

mainly

to

the

increase

in

sales

volumes.

The exchange rate effect, more pronounced in the first three months of the year, penalized growth by over two

percentage

points;

at

constant

exchange

rates,

revenues

for

the

half-year

would

have

shown

an

acceleration

of

8.0%.

The performance in the two divisions is summarized below:

( €

/million)

1st

Half

2026

1st

Half

2025

Chang e

Chang e

% Chang e % at

constant

FX

rates

Household

1,379.8

1,364.0

15.8

1.2%

3.1%

Professional

302.8

222.2

80.7

36.3%

40.0%

In the second quarter, the Household division achieved a growth of 4.5% (+5.1% at constant exchange rates)

bringing

revenues

to

€

738.7

million;

this

performance

made

it

possible

to

recover

from

the

weakness

of

the

first

three

months

of

the

year

and

close

the

first

half

of

2026

with

revenues

of

€

1,379.8

million,

an

increase

of

1.2%

despite

the

negative

impact

of

exchange

rates

(+3.1%

at

constant

exchange

rates).

The

good

results

benefited

from

an

extensive

and

continuously

expanding

product

range,

thanks

to

the

launch,

across

all

Group

brands,

of

new

models

that

combine

technology,

distinctive

design

and

sustainable

solutions.

The Professional division, thanks to the contribution of La Marzocco and Eversys, continued its brilliant growth

trend

with

revenues

of

€

163.8

million,

an

increase

of

33.2%

(+35.2%

at

constant

exchange

rates)

in

the

second

quarter,

and

€

302.8

million,

an

increase

of

36.3%

(+40.0%

at

constant

exchange

rates)

in

the

six

months.

11

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Mark ets and business lines The performance of the commercial areas in which the Group operates (Europe, Americas, Asia Pacific and

MEIA)

is

summarized

in

the

following

table:

( €

/million)

2nd

Quart er

2nd

Quart er Chang e Chang e % Chang e % at constant FX rates

2026

%

2025

%

Europe

536.9

59.7%

490.9

59.2%

46.1

9.4%

9.2%

Americ as

178.7

19.9%

153.0

18.5%

25.8

16.8%

20.8%

Asia

Pacific

137.9

15.4%

133.7

16.1%

4.2

3.1%

4.0%

MEIA

45.1

5.0%

51.4

6.1%

(6.3)

(12.2%)

(11.4%)

898.7

100.0%

829.0

100.0%

69.7

8.4%

9.2%

( €

/million)

1st

Half

1st

Half Chang e Chang e % Chang e % at constant FX rates

2026

%

2025

%

Europe

1,013.1

60.4%

960.6

60.6%

52.5

5.5%

5.3%

Americ as

314.3

18.8%

279.0

17.6%

35.3

12.6%

19.6%

Asia

Pacific

257.8

15.4%

244.0

15.4%

13.8

5.6%

9.9%

MEIA

91.2

5.4%

100.6

6.4%

(9.4)

(9.3%)

(3.8%)

1,676.3

100.0%

1,584.2

100.0%

92.1

5.8%

8.0%

Revenues

in

Europe

amounted

to

€

536.9

million

in

the

second

quarter,

an

increase

of

9.4%

compared

to

the

corresponding

period

of

2025;

in

the

half-year

they

amounted

to

€

1,013.1

million

(+5.5%).

With reference to the Household division, the market situation, especially in Germany, one of the primary

reference

countries

for

the

Group,

is

complex

due

to

poor

consumer

confidence

and

a

low

propensity

to

purchase

caused

by

the

uncertainties

of

the

context;

however,

the

acceleration

in

sales

in

the

second

quarter

made

it

possible

to

recover

from

the

weakness

of

the

first

months

of

the

year.

The coffee machine segment, slightly contracting in the first quarter due to critical issues in some markets,

returned

to

show

a

positive

trend.

The

most

solid

performance

was

achieved

by

the

pump

coffee

machines

with

grinder

segment,

which

benefited

from

growing

consumer

interest.

Sales

of

fully

automatic

models

increased

in

the

second

quarter.

A positive performance was also recorded in relation to sales of kitchen machines and other food preparation products.

Ironing products showed growth both in the quarter and in the six months. The portable air conditioning segment benefited from a particularly favorable summer season that peaked in

June;

the

positive

results

were

made

possible

by

actions

supporting

the

business

to

ensure

the

timely

availability

of

products

on

the

markets.

Good performance in almost all main markets, including France, Benelux, Switzerland, the Iberian Peninsula and Poland.

The Professional division showed a positive trend in the half-year in all main countries, confirming the growth

trend

of

the

first

months

of

the

year

in

the

second

quarter

as

well.

Eversys continued its expansion in Great Britain, where the launch of the Legacy model at the end of 2025 is

showing

good

results,

in

Ireland

and

in

countries

with

indirect

presence

thanks

to

sales

to

some

important

retail

chains.

12

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

With reference to La Marzocco, growth concerned Germany, which is confirmed as the leading European

reference

market

thanks,

above

all,

to

the

Home

line,

Spain,

France

and

Great

Britain.

The

Americas

area,

in

the

second

quarter,

recorded

revenues

of

€

178.7

million,

an

increase

at

constant

exchange

rates

of

20.8%

compared

to

the

corresponding

period

of

the

previous

year

(+16.8%

at

current

exchange

rates).

In

the

six

months,

revenues,

equal

to

€

314.3

million,

progressed

by

19.6%

at

constant

exchange

rates

(+12.6%

at

current

exchange

rates).

In the Household division, growth mainly concerned the coffee products segment, which is confirmed as the

main

driver,

thanks

above

all

to

sales

of

fully

automatic

machines

and

the

Nespresso

business.

In the United States, despite an uncertain and complex environment, the coffee segment recorded a positive

trend;

overall,

however,

the

results,

although

good,

were

influenced

by

a

contraction

in

the

Nutribullet

brand

personal

blender

segment.

As for the Professional division, both La Marzocco and Eversys, despite tariff policies, showed significant revenue growth.

In

the

Asia

Pacific

area,

revenues

for

the

second

quarter

amounted

to

€

137.9

million,

an

increase

of

4.0%

at

constant

exchange

rates

(+3.1%

at

current

exchange

rates).

In

the

first

half,

revenues

amounted

to

€

257.8

million,

an

increase

of

9.9%

at

constant

exchange

rates

(+5.6%

at

actual

exchange

rates)

thanks

to

the

contribution

of

all

the

main

countries.

Sales in Greater China, while remaining on a positive trajectory in the half-year thanks, above all, to the

contribution

of

the

Professional

division,

were

affected

in

comparative

terms

by

the

excellent

results

recorded

in

2025,

also

stimulated

by

government

policies

supporting

consumption.

In the other countries of the area, particularly in Australia and Japan, the good results for coffee products

continued,

in

particular

fully

automatic

machines.

In the Professional field, the main markets showed expanding revenues in the half-year. The MEIA area suffered a contraction in sales influenced by the geopolitical context and accentuated by a

negative

exchange

rate

impact

recorded,

above

all,

in

the

first

months

of

the

year.

Revenues

amounted

to

€

45.1

million

in

the

second

quarter

(-11.4%

at

constant

exchange

rates,

-12.2%

at

actual

exchange

rates),

while

in

the

half-year

they

were

€

91.2

million

(-3.8%

at

constant

exchange

rates,

-9.3%

at

current

exchange

rates).

Both divisions, albeit with different dynamics, felt the effects of the context affected by the conflict; the

Professional

division,

however,

achieved

growth

thanks

to

sales

in

the

main

markets.

Looking at the business lines, the expansion was driven by the coffee products segment, which constitutes

approximately

70%

of

the

Group's

business.

The positive results are part of a strategy, transversal to the two divisions, based on the penetration and

exploration

of

new

markets,

continuous

premiumization,

growth

in

the

professional

coffee

segment

and

the

expansion

of

ecosystems

driven

by

the

professional

home

coffee

world

and

accessories.

With reference to the Household division, the coffee products segment reported a positive performance; in

particular,

good

results

were

achieved

by

the

pump

machines

with

grinder

segment,

which

benefited

from

a

favorable

market

situation

and

growing

consumer

interest.

Furthermore,

in

the

second

quarter,

sales

of

fully

automatic

machines

saw

a

decisive

acceleration

that

made

it

possible

to

recover

the

decline

of

the

first

quarter

of

the

year,

characterized

by

a

weak

January

due

to

high

trade

inventory.

The

products

of

the

Nespresso

platform

confirmed

the

positive

performance

of

2025.

In the nutrition area, the positive trend for the kitchen machines segment continued; the launch of a new

mid-range

model

gave

the

first

positive

signals,

however,

positive

results

on

a

larger

scale

are

expected

for

the

second

half

of

the

year.

Conversely,

sales

of

personal

blenders

showed

a

contraction,

influenced,

above

all,

by

weakness

in

the

United

States.

13

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

The comfort segment achieved significant growth thanks to sales of air conditioning products which benefited in

Europe,

in

all

major

markets,

from

particularly

favorable

weather

conditions.

Finally, the home care and ironing products segment closed the half-year with growing revenues thanks, above

all,

to

the

contribution

of

the

ironing

products

family.

The Professional division, which can count on the strength of its brands and the versatility of its product

portfolio,

achieved

strong

revenue

growth.

La Marzocco, which maintains leadership in the premium segments both with the "Bar" line and in the "Home"

sector

thanks

to

its

ability

to

satisfy

consumer

needs

and

intercept

new

trends

in

specialty

coffee,

showed,

in

particular,

solid

expansion

in

the

United

States,

which

represents

the

primary

reference

market,

in

Australia

and

in

the

main

European

countries.

Eversys, which provides high-tech solutions, continued its expansion in markets with direct presence (United

States,

Great

Britain

and

Ireland),

in

the

Asia

Pacific

area,

in

Greater

China

and

in

Europe,

thanks

to

significant

orders

received

from

important

chains

and

coffee

shops.

It should also be noted that, as part of its growth strategy, Eversys, during the first half of 2026, continued to

strengthen

its

direct

presence

in

Europe

through

the

acquisition

of

the

Dutch

distributor.

The

transaction,

which

qualifies

as

a

business

combination,

took

place

on

19

March

2026.

The

balance

sheet

values

of

the

newly

acquired

company

were

included

in

the

scope

of

consolidation

starting

from

31

March

2026,

and

the

consideration

for

the

transaction

was

provisionally

allocated

to

the

acquired

assets

and

liabilities,

pending

definitive

information

that

will

allow

the

finalization

of

the

values.

The

definitive

purchase

price

allocation

will

be

determined

within

twelve

months

of

the

acquisition.

The

economic

values

have

been

consolidated

starting

from

01

April

2026.

Profitability

The

net

industrial

margin

for

the

second

quarter

of

2026,

equal

to

€

476.7

million,

was

an

improvement

compared

to

the

corresponding

period

of

2025

( €

442.5

million),

remaining

substantially

in

line

in

terms

of

percentage

of

revenues

at

53.0%.

In

the

half-year,

the

net

industrial

margin

amounted

to

€

892.0

million

(53.2%

of

revenues),

an

improvement

compared

to

the

figure

for

the

first

six

months

of

2025

( €

837.3

million,

or

52.9%

of

revenues)

thanks

to

higher

sales

volumes,

the

positive

mix

effect

and

an

improvement

in

production

cost

efficiency.

EBITDA

adjusted

for

the

second

quarter

was

€

157.7

million

(17.6%

of

revenues),

up

from

€

124.4

million

(15.0%

of

revenues)

in

the

corresponding

period

of

2025.

In the six months, EBITDA adjusted showed an improvement both in value and as a percentage of revenues

compared

to

the

figure

for

the

first

half

of

2025,

rising

from

€

240.7

million

(15.2%

of

revenues)

to

€

283.7

million

(16.9%

of

revenues).

EBITDA

adjusted

benefited

from

a

positive

net

impact

of

€

15.4

million,

recognized

entirely

in

the

reference

quarter,

resulting

from

the

reimbursement

of

the

quota

of

IEEPA

tariffs

(imposed

by

the

United

States

starting

from

the

first

months

of

2025

using

the

emergency

powers

provided

by

the

International

Emergency

Economic

Powers

Act),

subsequently

deemed

illegitimate.

As part of the renewed communication strategy, costs for communication activities and promotional initiatives increased.

The

EBITDA

adjusted

of

the

Household

division

amounted

to

€

186.8

million

(13.5%

of

revenues)

in

the

first

half

of

2026

( €

182.1

million,

13.3%

of

revenues

in

the

corresponding

period

of

2025).

The

Professional

division,

accelerating

rapidly

compared

to

2025,

achieved

an

EBITDA

adjusted

of

€

96.9

million

(32.0%

of

revenues)

in

the

first

half

of

2026,

an

improvement

compared

to

€

58.6

million

(26.4%

of

revenues)

in

2025.

14

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

In the first half, some non-recurring costs were reported separately, mainly relating to company reorganizations and

consulting

services,

as

well

as

costs

associated

with

staff

incentive

plans

totaling

€ 3.9

million

( € 8.2

million

in

the

first

half

of

2025).

In

the

second

quarter

of

2026,

EBITDA

was

€

157.7

million,

or

17.5%

of

revenues

( €

120.6

million,

14.5%

of

revenues,

in

the

corresponding

period

of

2025).

After

recognizing

amortization

and

depreciation

of

€

31.5

million

( €

32.9

million

in

2025),

EBIT

amounted

to

€

126.2

million

(14.0%

of

revenues),

up

compared

to

the

corresponding

period

of

2025

( €

87.7

million,

10.6%

of

revenues).

EBITDA

for

the

first

six

months,

equal

to

€

279.8

million

(16.7%

of

revenues),

was

an

improvement

compared

to

€

232.5

million

(14.7%

of

revenues)

for

the

first

six

months

of

2025.

Amortization

and

depreciation

for

the

half-year

amounted

to

€

62.2

million

( €

64.6

million

in

2025)

and

EBIT

was

€

217.6

million

(13.0%

of

revenues),

an

improvement

compared

to

€

167.9

million

(10.6%

of

revenues)

in

the

corresponding

period

of

2025.

The

Group

posted

€ 5.9

million

in

financial

income,

an

increase

compared

to

the

first

half

of

2025

( € 1.6

million)

mainly

due

to

effective

currency

management.

Net

of

taxes

of

€

54.6

million

( €

40.1

million

in

the

first

half

of

2025),

the

net

result

for

the

first

six

months

of

2026

stood

at

€

169.0

million

( €

129.4

million

in

the

corresponding

period

of

2025),

of

which

€

27.6

million

pertained

to

minority

shareholders

( €

12.8

million

in

2025).

The

net

profit

pertaining

to

the

Group

amounted

to

€

141.4

million

( €

116.6

million

in

the

first

half

of

2025).

15

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Results by sector of activity Based on the provisions of IFRS 8, two operating segments have been identified, the Household and Professional

divisions,

each

of

which

generates

revenues

and

costs

(including

revenues

and

costs

relating

to

transactions

with

other

Group

entities)

and

whose

operating

results

are

periodically

reviewed

by

the

highest

decision-making

level.

The

Group's

activities

have

been

divided

between

the

two

divisions

based

on

their

relevancy.

This breakdown is consistent with the analysis and management tools used by Group management for the

assessment

of

the

company's

performance

and

for

strategic

decisions.

The information by operating sector can be found in the Explanatory notes.

16

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Review of the statemen t of financial position The reclassified consolidated statement of financial position is summarized below:

( €

/million)

30/06/2026

30/06/2025

31/12/2025

-

Intangible

asse ts

1,242.1

1,231.2

1,223.8

-

Property ,

plan t

and

equipmen t

518.0

525.7

523.1

-

Financial

asse ts

12.1

12.1

10.6

-

Deferred

tax

asse ts

84.1

74.0

83.6

Non-curr ent

asse ts

1,856.2

1,843.0

1,841.1

-

Inventories

837.8

809.9

606.0

-

Trade

receiv ables

239.1

208.6

351.6

-

Trade

payables

(904.0)

(810.1)

(856.7)

-

Other

payables

(net

of

receiv ables)

(187.2)

(150.3)

(250.2)

Net

working

capital

(14.3)

58.0

(149.4)

Total

non-curr ent

liabilities

and

provisions

(245.1)

(240.3)

(237.5)

Net

capital

emplo yed

1,596.8

1,660.7

1,454.3

(Net

financial

asse ts)

(686.6)

(345.8)

(770.0)

-

Group

portion

of

net

equity

2,055.8

1,816.3

2,026.5

-

Minority

interests

227.6

190.2

197.8

Total

net

equity

2,283.5

2,006.5

2,224.3

Total

net

debt

and

equity

1,596.8

1,660.7

1,454.3

At

30

June

2026

the

net

operating

working

capital

amounted

to

€

172.9

million,

or

4.4%

in

terms

of

turnover

on

revenues,

and

improved

compared

to

30

June

2025

( €

208.3

million,

5.7%

of

revenues).

Trade

receivables

were

influenced

by

the

complexity

of

some

reference

markets.

Inventories

increased

to

guarantee

a

stock

supporting

the

business.

Trade

payables

were

influenced

by

procurement

timing.

In

comparison

with

31

December

2025

( €

100.8

million,

2.7%

of

revenues),

net

operating

working

capital,

on

the

other

hand,

was

affected

by

the

traditional

seasonality

of

the

business.

Net

working

capital

at

30

June

2026

was

negative

for

€

14.3

million

(positive

for

€

58.0

million

at

30

June

2025;

negative

for

€

149.4

million

at

31

December

2025).

17

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Details of the net financial position are shown below:

( €

/million)

30/06/2026

30/06/2025

31/12/2025

Cash

and

cash

equiv alen ts

877.8

686.1

998.4

Other

financial

receiv ables

230.2

191.6

238.1

Curr ent

financial

debt

(227.9)

(187.1)

(98.7)

Fair

value

of

deriv atives

17.3

(34.0)

2.4 Net

current

financial

position

897.3

656.7

1,140.2

Non-curr ent

financial

receiv ables

and

asse ts

50.9

130.4

60.3

Non-curr ent

financial

debt

(261.6)

(441.4)

(430.6)

Non-curr ent

net

financial

debt

(210.7)

(311.0)

(370.2)

Net

financial

asse ts

686.6

345.8

770.0

of

which:

-

positions

with

bank s

and

other

financial

payables

762.7

475.2

861.5

-

lease

liabilities

(91.1)

(95.4)

(94.0)

- other financial non-bank asse ts/liabilities (mainly fair value of

derivatives

and

payables

for

shares

acquisition)

15.0

(34.0)

2.4

At

30

June

2026

the

net

financial

position

came

to

a

positive

€

686.6

million

( €

345.8

million

at

30

June

2025;

€

770.0

million

at

31

December

2025).

Net of a few, specific financial items, comprising mainly the fair value measurement of derivatives, lease

liabilities

and

payables

for

investments,

the

net

bank

financial

position

came

to

a

positive

€

762.7

million

( €

475.2

million

at

30

June

2025;

€

861.5

million

at

31

December

2025).

18

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

The statement of cash flows is presented on a condensed basis as follows:

( €

/million)

30/06/2026

30/06/2025

31/12/2025

6

Mon ths

6

Mon ths

12

Mon ths

Cash

flow

by

current

oper ations

294.3

241.7

628.7

Cash

flow

by

chang es

in

working

capital

(185.3)

(187.7)

(84.5)

Cash

flow

by

current

oper ations

and

chang es

in

NWC

108.9

54.0

544.2

Cash

flow

by

investmen t

activities

(45.4)

(42.8)

(100.8)

Cash

flow

by

oper ating

activities

63.6

11.2

443.4

Acquisitions

(5.4)

-

-

Dividends

paid

(127.9)

(191.1)

(196.5)

Cash

flow

by

treasur y

shar es

purchase

(28.5)

(60.6)

(60.6)

Stock

options

exercise

0.3 2.5

5.0

Cash

flow

by

other

chang es

in

net

equity

14.5

(59.4)

(64.5)

Cash

flow

gener ated

(absorbed)

by

chang es

in

net

equity

(141.6)

(308.6)

(316.6)

Cash

flow

for

the

period

(83.4)

(297.5)

126.8

Opening

net

financial

position

770.0

643.2

643.2

Closing

net

financial

position

686.6

345.8

770.0

The

net

operating

cash

flow,

positive

for

€

63.6

million

in

the

first

half

of

2026

(positive

for

€

11.2

million

in

the

corresponding

period

of

2025),

benefited

from

the

cash

flows

generated

by

current

operations,

in

particular,

due

to

the

solid

performance

of

the

Professional

division,

and

the

trend

in

working

capital.

Net

investments

amounted

to

€

45.4

million

( €

42.8

million

in

the

first

half

of

2025)

and

were

allocated

to

commercial

spaces

in

the

United

States

and

other

key

countries

as

well

as

industrial

interventions

for

the

enhancement

of

production

lines.

The

cash

flow

relating

to

acquisitions,

equal

to

€ 5.4

million,

refers

to

the

total

consideration,

inclusive

of

the

estimated

variable

component,

net

of

the

net

financial

assets

acquired,

for

the

business

combination

of

the

Dutch

distributor

by

Eversys,

as

part

of

the

strategy

to

strengthen

the

direct

presence

in

Europe.

The

cash

flow

for

the

period,

after

the

distribution

of

dividends

for

€

127.9

million

and

the

purchase

of

treasury

shares

for

€

28.5

million,

was

negative

for

€

83.4

million

in

the

first

half

of

2026,

negative

for

€

297.5

million

in

the

first

six

months

of

2025.

19

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Human Resour ces The staff of the Group at 30 June 2026 is summarized below:

30/06/2026

30/06/2025

Blue

collar s

6,421

6,584

Whit e

collar s

3,610

3,609

Manag ers

400 376

Total

10,431

10,569 At 30 June 2026 the Group employed 10,431 employees, substantially in line with the number of employees in the

corresponding

period

of

2025.

20

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Alterna tive perf ormance indic ators In addition to the information required by IFRS, this document presents other financial measures which provide

further

analysis

of

the

Group's

performance.

These

indicators

must

not

be

treated

as

alternatives

to

those

required

by

IFRS.

More in detail, the non-GAAP measures used include: - Net industrial margin and EBITDA: the Group uses these measures as financial targets in internal presentations

(business

plans)

and

in

external

presentations

(to

analysts

and

investors),

since

they

are

a

useful

way

of

measuring

operating

performance

by

the

Group

as

a

whole

and

its

individual

divisions

besides

EBIT.

Net industrial margin is calculated as total revenues minus the cost of materials consumed and of

production-related

services

and

payroll.

EBITDA is an intermediate measure that derives from EBIT after adding back depreciation, amortization and

impairment

of

property,

plant

and

equipment

and

intangible

assets.

EBITDA

is

also

presented

adjusted,

gross

of

non-recurring

items,

which

are

reported

separately

on

the

face

of

the

income

statement.

- Net working capital: this measure is the sum of inventories, trade receivables, current tax assets and other

receivables,

minus

trade

payables,

tax

liabilities

and

other

payables.

- Net operating working capital: this measure is the sum of inventories and trade receivables, minus trade payables.

- Net capital employed: this measure is the sum of net working capital, intangible assets, property, plant and

equipment,

equity

investments,

other

non-current

receivables,

and

deferred

tax

assets,

minus

deferred

tax

liabilities,

employee

severance

indemnity

and

provisions

for

contingencies

and

other

charges.

- Net financial position: this measure represents financial liabilities less cash and cash equivalents and other

financial

receivables;

the

position

with

banks,

net

of

non-banking

items,

is

also

reported.

The figures contained in this report, including some of the percentages, have been rounded relative to their full

euro

amount.

As

a

result,

some

of

the

totals

in

the

tables

may

differ

from

the

sum

of

the

individual

amounts

presented.

21

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Reconcilia tion of net equity and profit (loss) for the period Below is a concise reconciliation between net equity and profit of the parent company, De’ Longhi S.p.A., and the

figures

shown

in

the

consolidated

financial

statements:

Amounts in thousands of Euro

Net equity

30.06.2026

Net result 1st Half

2026

Net equity

31.12.2025

Net

result

2025

De'

Longhi

S.p.A.

financial

statements

710,015

130,346

730,223

219,685

Share of subsidiaries' equity and results for period attributable to the Group, after deducting carrying

value

of

the

investments

849,589

62,040

761,871

126,338

Allocation of goodwill arising on consolidation and related amortization and reversal of goodwill

recognized

for

statutory

purposes

810,821

(577)

796,168

1,740

Elimination

of

intercompany

profits

(87,196)

(22,841)

(64,226)

(6,303)

Other

adjustments

239

(1)

216

(40)

Consolidated

financial

statements

2,283,468

168,967

2,224,252

341,420

Minority

227,648

27,600

197,801

25,095

Consolidated

financial

statements-Group

portion

2,055,820

141,367

2,026,451

316,325

Related party transactions Related party transactions fall within the normal course of business by Group companies. Information on related party transactions is summarized in Appendix 3 to the Explanatory notes.

22

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Other informa tion Pursuant to Art. 3 of Consob Resolution n. 18079 of 20 January 2012, the Board of Directors resolved to exercise the

opt-out

clause

provided

under

Art.

70,

paragraph

8

and

Art.

71,

paragraph

1-bis

of

Consob

Regulation

n.

11971/99

which

grants

the

option

to

waive

the

mandatory

publication

of

informational

documents

relating

to

significant

mergers,

spin-offs,

capital

increases

through

in-kind

transfers,

acquisitions

and

disposals.

With regard to the main risks and uncertainties to which the Group is exposed, the Report on Corporate

Governance

and

Ownership

Structure

and

anything

that

is

not

expressly

described

in

this

report,

reference

should

be

made

to

the

2025

Annual

Report.

Subsequen t events There have been no significant events since the end of the reporting period.

23

De’ Longhi S.p.A. Interim financial report at 30 June 2026 02

Interim

report

on

operations

Outlook

In light of the results achieved in the first half of the year, while taking into account the constantly evolving

macroeconomic

and

geopolitical

context,

the

Group

confirms

its

estimate

of

revenue

growth

and

a

solid

adjusted

EBITDA.

Treviso, 30 July 2026 For the Board of Directors Chairman and Chie f Executive Officer

Fabio de’Longhi

24

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

HALF- YEAR CONDENSED CONSOLID ATED FINANCIAL

STATEMENT S

CONSOLID ATED INCOME STATEMENT

( €

/000)

Notes

1st

Half

2026

of which operative

non-recurring

1st

Half

2025

of which operative

non-recurring

Revenue

from

sales

1

1,646,687

1,557,403

Other

revenues

1

29,651

26,811

Total

consolidated

revenues

1,676,338

1,584,214

Raw

and

ancillary

materials,

consumables

and

goods

2

(849,666)

(813,072)

Change in inventories of finished products and work in

progress

3

185,514

199,184

Change in inventories of raw and ancillary materials,

consumables

and

goods

3

32,733

17,334

Materials

consumed

(631,419)

(596,554)

Payroll

costs

4-8

(255,825)

(1,032)

(263,496)

(1,325)

Services

and

other

operating

expenses

5-8-15

(495,672)

(1,885)

(479,296)

Provisions

6-8

(13,649)

(12,395)

265

Amortization

7-15

(62,192)

(64,611)

EBIT

217,581

(2,917)

167,862

(1,060)

Net

financial

income

(expenses)

9-15

5,943

1,617

PROFIT

(LOSS)

BEFORE

TAXES

223,524

169,479

Taxes

10

(54,557)

(40,075)

CONSOLIDATED

PROFIT

(LOSS)

168,967

129,404

Profit

(loss)

pertaining

to

minority

30

27,600

12,792

CONSOLIDATED

PROFIT

(LOSS)

AFTER

TAXES

141,367

116,612

EARNINGS

PER

SHARE

(in

Euro)

31

-

basic

€

0.95

€

0.78

-

diluted

€

0.95

€

0.78

Appendix 3 reports the effect of related party transactions on the income statement, as required by CONSOB Resolution 15519 of 27 July 2006.

25

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

CONSOLID ATED STATEMENT OF COMPREHENSIVE INCOME

( €

/000)

1st Half 2026 1st Half 2025

Consolidated

profit

(loss)

168,967

129,404

Other

components

of

the

comprehensive

income:

Change

in

fair

value

of

cash

flow

hedges

1,286

(5,726)

Tax

effect

on

change

in

fair

value

of

cash

flow

hedges

(368)

1,048

Differences

from

translating

foreign

companies'

financial

statements

into

Euro

41,102

(137,939)

Total

other

comprehensive

income

will

subsequently

be

reclassified

to

profit

(loss)

for

the

year

42,020

(142,617)

Actuarial

valuation

funds

(244)

1

Tax

effect

on

actuarial

valuation

funds

52

-

Total

other

comprehensive

income

will

not

subsequently

be

reclassified

to

profit

(loss)

for

the

year

(192)

1

Total

components

of

comprehensive

income

41,828

(142,616)

Total

comprehensive

income

210,795

(13,212)

Total

comprehensive

income

attributable

to:

Group

179,922

(20,085)

Minority

interest

30,873

6,873

26

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

CONSOLID ATED STATEMENT OF FINANCIAL POSITION - ASSET S

ASSETS

( €

/000)

Notes

30/06/2026

31/12/2025

NON-CURRENT

ASSETS

INTANGIBLE

ASSETS

1,242,062

1,223,798

-

Goodwill

11

651,870

636,623

-

Other

intangible

assets

12

590,192

587,175

PROPERTY,

PLANT

AND

EQUIPMENT

517,977

523,070

-

Land,

property,

plant

and

machinery

13

309,791

314,614

-

Other

tangible

assets

14

118,339

116,526

-

Right

of

use

assets

15

89,847

91,930

EQUITY

INVESTMENTS

AND

OTHER

FINANCIAL

ASSETS

63,007

70,964

-

Equity

investments

16

6,925

5,622

-

Receivables

17

5,687

4,999

-

Other

non-current

financial

assets

18

50,395

60,343

DEFERRED

TAX

ASSETS

19

84,089

83,601

TOTAL

NON-CURRENT

ASSETS

1,907,135

1,901,433

CURRENT

ASSETS

INVENTORIES

20

837,791

605,950

TRADE

RECEIVABLES

21

239,071

351,569

CURRENT

TAX

ASSETS

22

16,394

9,011

OTHER

RECEIVABLES

23

66,330

49,302

CURRENT

FINANCIAL

RECEIVABLES

AND

ASSETS

24-15

265,078

244,795

CASH

AND

CASH

EQUIVALENTS

25

877,789

998,448

TOTAL

CURRENT

ASSETS

2,302,453

2,259,075

TOTAL

ASSETS

4,209,588

4,160,508

Appendix 3 reports the effect of related party transactions on the balance sheet, as required by CONSOB Resolution 15519 of 27 July 2006.

27

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

CONSOLID ATED STATEMENT OF FINANCIAL POSITION - NET EQUITY AND LIABILITIE S

NET EQUITY AND LIABILITIES

( €

/000)

Notes

30/06/2026

31/12/2025

NET

EQUITY

GROUP

PORTION

OF

NET

EQUITY

2,055,820

2,026,451

-

Share

Capital

28

226,942

226,942

-

Reserves

29

1,687,511

1,483,184

-

Profit

(loss)

pertaining

to

the

Group

141,367

316,325

MINORITY

INTEREST

30

227,648

197,801

TOTAL

NET

EQUITY

2,283,468

2,224,252

NON-CURRENT

LIABILITIES

FINANCIAL

PAYABLES

261,579

430,559

-

Banks

loans

and

borrowings

(long-term

portion)

32

40,843

191,166

-

Other

financial

payables

(long-term

portion)

33

152,608

171,762

-

Lease

liabilities

(long-term

portion)

15

68,128

67,631

DEFERRED

TAX

LIABILITIES

19

100,655

98,260

NON-CURRENT PROVISIONS FOR CONTINGENCIES AND OTHER

CHARGES

144,420

139,200

-

Employee

benefits

34

66,162

59,642

-

Other

provisions

35

78,258

79,558

TOTAL

NON-CURRENT

LIABILITIES

506,654

668,019

CURRENT

LIABILITIES

TRADE

PAYABLES

36

903,963

856,693

FINANCIAL

PAYABLES

245,569

103,034

-

Banks

loans

and

borrowings

(short-term

portion)

32

161,372

35,877

-

Other

financial

payables

(short-term

portion)

33

61,072

40,418

-

Lease

liabilities

(short-term

portion)

15

23,125

26,739

CURRENT

TAX

LIABILITIES

37

90,969

90,148

OTHER

PAYABLES

38

178,965

218,362

TOTAL

CURRENT

LIABILITIES

1,419,466

1,268,237

TOTAL

NET

EQUITY

AND

LIABILITIES

4,209,588

4,160,508

Appendix 3 reports the effect of related party transactions on the balance sheet, as required by CONSOB Resolution 15519 of 27 July 2006.

28

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

CONSOLID ATED STATEMENT OF CASH FLOW

( €

/000)

Notes

1st

Half

2026

1st

Half

2025

Net

Result

168,967

129,404

Income

taxes

for

the

period

54,557

40,075

Amortization

62,192

64,611

Net

change

in

provisions

and

other

non-cash

items

8,555

7,614

Cash

flow

generated

by

current

operations

(A)

294,271

241,704

Change

in

assets

and

liabilities

for

the

period:

Trade

receivables

115,409

121,315

Inventories

(217,400)

(221,086)

Trade

payables

35,701

(15,141)

Other

changes

in

net

working

capital

(62,820)

(14,089)

Payment

of

income

taxes

(56,213)

(58,714)

Cash

flow

absorbed

by

movements

in

working

capital

(B)

(185,323)

(187,715)

Cash

flow

generated

by

current

operations

and

movements

in

working

capital

(A+B)

108,948

53,989

Investment

activities:

Investments

in

intangible

assets

(9,074)

(18,645)

Other

cash

flows

for

intangible

assets

93 -

Investments

in

property,

plant

and

equipment

(28,204)

(23,995)

Other

cash

flows

for

property,

plant

and

equipment

1,002

414

Net

investments

in

financial

assets

and

in

minority

interest

753

(23,766)

Cash

flow

absorbed

by

ordinary

investment

activities

(C)

(35,430)

(65,992)

Cash

flow

by

operating

activities

(A+B+C)

73,518

(12,003)

Business

combinations

(D)

(3,055)

-

Exercise

of

stock

option

255

2,454

Purchase

of

treasury

shares

(28,499)

(60,586)

Dividends

paid

(125,180)

(121,623)

Dividends

paid

to

minority

interests

(1,026)

(2,771)

New

loans

-

-

Payment

of

interests

on

loans

(4,752)

(7,221)

Repayment

of

loans

and

other

net

changes

in

sources

of

finance

(37,380)

(114,056)

Cash

flow

absorbed

by

changes

in

net

equity

and/or

by

financing

activities

(E)

(196,582)

(303,803)

Cash

flow

for

the

period

(A+B+C+D+E)

(126,119)

(315,806)

Opening

cash

and

cash

equivalents

25998,448

1,019,711

Cash

flow

for

the

period

(A+B+C+D+E)

(126,119)

(315,806)

Translation

difference

effect

on

cash

and

cash

equivalents

5,460

(17,765)

Closing

cash

and

cash

equivalents

25877,789

686,140

Appendix 2 reports the statement of cash flows in terms of net financial position.

29

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

CONSOLID ATED STATEMENT OF CHANGE S IN NET EQUITY

( €

/000)

SHARE CAPITAL SHARE PREMIUM RESERVE LEGAL RESERVE EXTRAORDINARY RESERVE TREASURY SHARES RESERVES FAIR VALUE AND CASH FLOW HEDGE RESERVES STOCK OPTION RESERVE CURRENCY TRANSLATION RESERVE PROFIT (LOSS) CARRIED FORWARD PROFIT (LOSS) PERTAINING TO GROUP GROUP PORTION OF NET EQUITY MINORITY INTEREST TOTAL NET EQUITY Balance at 31 December 2024 226,820 46,800 45,318 136,974 - 4,649 7,781 97,078 1,200,584 310,737 2,076,741 187,652 2,264,393 Allocation of 2024 result as per AGM resolution of 30 April 2025 - distribution of dividends (71,093) (115,622) (186,715) (186,715) - allocation to reserves 70 310,667 (310,737) - - Fair value stock option 4,519 4,519 4,519 Treasury shares purchase (60,586) (60,586) (60,586) Exercise of stock option 122 1,160 1,935 (762) 2,455 2,455 Dividend distribution to minority interests - (4,363) (4,363) Movements from transactions with shareholders 122 1,160 70 (71,093) (58,651) - 3,757 - 195,045 (310,737) (240,327) (4,363) (244,690) Profit (loss) after taxes 116,612 116,612 12,792 129,404 Other components of comprehensive income (5,632) (131,065) (136,697) (5,919) (142,616) Comprehensive income (loss) - - - - - (5,632) - (131,065) - 116,612 (20,085) 6,873 (13,212) Balance at 30 June 2025 226,942 47,960 45,388 65,881 (58,651) (983) 11,538 (33,987) 1,395,629 116,612 1,816,329 190,162 2,006,491 Balance at 31 December 2025 226,942 46,767 45,388 65,880 (54,031) 683 15,279 (35,177) 1,398,395 316,325 2,026,451 197,801 2,224,252 Allocation of 2025 result as per AGM resolution of 23 April 2026 - distribution of dividends (126,828) (126,828) (126,828) - allocation to reserves 92,855 223,470 (316,325) - - Fair value stock option 4,519 4,519 4,519 Treasury shares purchase (28,499) (28,499) (28,499) Exercise of stock option (23) 458 (180) 255 255 Dividend distribution to minority interests - (1,026) (1,026) Movements from transactions with shareholders - (23) - 92,855 (28,041) - 4,339 - 96,642 (316,325) (150,553) (1,026) (151,579) Profit (loss) after taxes 141,367 141,367 27,600 168,967 Other components of comprehensive income 1,365 37,290 (100) 38,555 3,273 41,828 Comprehensive income (loss) - - - - - 1,365 - 37,290 (100) 141,367 179,922 30,873 210,795 Balance at 30 June 2026 226,942 46,744 45,388 158,735 (82,072) 2,048 19,618 2,113 1,494,937 141,367 2,055,820 227,648 2,283,468 30

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

EXPLANA TORY NOTES

GROUP BUSINE SS This document represents the half-year condensed consolidated financial statements of the De'

Longhi

Group.

The parent company De' Longhi S.p.A. is a joint-stock company, incorporated in Italy, whose shares are

listed

on

the

Italian

stock

exchange

(Euronext

Milan)

run

by

Borsa

Italiana.

The registered office is located in Treviso (Italy) in via Lodovico Seitz, 47. The Group operates in Europe, America, Asia Pacific and MEIA. The Group is active in the production and distribution of domestic and professional coffee machines,

small

appliances

for

food

preparation

and

cooking,

domestic

cleaning

and

ironing,

air

conditioning

and

portable

heaters.

The companies included in the scope of consolidation are listed in Appendix 1 to the Explanatory notes.

ACCOUNTING STAND ARDS The half-year financial report includes the half-year condensed consolidated financial statements,

which

have

been

prepared

in

accordance

with

IFRS

(International

Financial

Reporting

Standards)

issued

by

the

International

Accounting

Standards

Board

and

adopted

by

the

European

Union

and

particularly

with

the

recommendations

of

IAS

34

–

Interim

Financial

Reporting,

which

requires

interim

financial

statements

to

be

prepared

in

a

condensed

format

with

fewer

disclosures

than

in

annual

financial

statements.

The half-year condensed consolidated financial statements at 30 June 2026 comprise the income

statement,

the

statement

of

comprehensive

income,

the

statement

of

financial

position,

the

statement

of

cash

flows

and

the

statement

of

changes

in

net

equity,

all

of

which

have

been

prepared

in

a

full

format

that

is

comparable

with

the

annual

consolidated

financial

statements.

The explanatory notes are presented in a condensed format and, therefore, are limited to the

information

needed

by

users

to

understand

the

financial

statements

for

the

first

half

of

2026.

These financial statements are presented in thousands of Euro, unless otherwise indicated. The publication of the half-year condensed consolidated financial statements for the period ended 30

June

2026

was

authorized

by

the

Board

of

Directors

on

30

July

2026

that

also

approved

the

financial

statements.

The half-year condensed consolidated financial statements have used the same consolidation

procedures

and

accounting

policies

as

those

described

in

the

annual

report,

to

which

the

reader

should

refer.

The consolidated financial figures were prepared using the same accounting policies as those used to

prepare

the

consolidated

financial

statements

at

31

December

2025.

31

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement International accounting standards adopted by the Group for the first time The following standards have been adopted by the Group for the first time:

-

the

Amendments

to

IFRS

9

and

IFRS

7

-

Amendments

to

the

Classification

and

Measurement

of

Financial

Instruments

,

which

clarify

the

criteria

for

the

recognition/derecognition

of

financial

assets

and

liabilities

and

provide

specific

guidance

for

payments

made

via

electronic

systems.

They

also

define

the

requirements

for

classifying

financial

assets

subject

to

ESG

criteria,

non-recourse

loans,

and

related

financial

instruments,

along

with

disclosure

requirements

for

equity

instruments

measured

at

fair

value

through

OCI

and

for

financial

instruments

with

contingent

features.

-

the

Annual

Improvements

to

IFRS

Accounting

Standards

—

Volume

11 ,

published

as

part

of

the

regular

improvement

process

with

the

goal

of

streamlining

and

customizing

existing

standards.

The

annual

improvements

make

minor

amendments

to

IFRS

1

-

First-time

Adoption

of

International

Financial

Reporting

Standards

,

IFRS

7

-

Financial

Instruments:

Disclosures

,

IFRS

9

-

Financial

Instruments

,

IFRS

10

-

Consolidated

Financial

Statements

,

and

IAS

7

-

Statement

of

Cash

Flows

.

-

the

amendments

to

IFRS

9

-

Financial

Instruments

and

IFRS

7

-

Financial

Instruments:

Disclosures

introduced

by

the

document

Contracts

Referencing

Nature-dependent

Electricity

(Amendments

to

IFRS

9

and

IFRS

7) ,

which

aims

to

improve

the

reporting

of

the

financial

effects

of

contracts

for

the

purchase

and

delivery

of

electricity

generated

from

natural

sources

(Power

Purchase

Agreements).

Since

the

amount

of

electricity

generated

under

these

contracts

can

vary

due

to

uncontrollable

weather-related

factors,

the

possibility

of

applying

the

own-use

exception

to

certain

contracts

was

introduced,

and

the

application

of

hedge

accounting

was

simplified

through

new

provisions

that

allow

designating

a

variable

nominal

volume

of

electricity

as

a

hedged

item.

These provisions, applicable starting from 1 January 2026, did not have any impact on the De' Longhi Group.

International financial reporting standards and/or interpretations not yet applicable Mandatorily applicable for annual periods beginning on or after 01 January 2027:

-

the

new

IFRS

18

-

Presentation

and

Disclosure

in

Financial

Statements

,

which

defines

the

criteria

for

the

presentation

of

the

income

statement,

the

statement

of

financial

position,

and

the

statement

of

changes

in

net

equity,

as

well

as

the

mandatory

disclosures

for

the

Explanatory

notes.

The

standard

aims

to

improve

the

comparability

of

the

income

statement

by

defining

its

structure

through

the

identification

of

categories

and

subtotals,

to

increase

the

transparency

of

performance

measures,

and

to

establish

criteria

for

the

aggregation/disaggregation

of

information.

-

The

new

accounting

standard

IFRS

19

-

Subsidiaries

without

Public

Accountability:

Disclosures

,

which

introduces

reduced

disclosure

requirements

for

the

financial

statements

of

subsidiary

companies,

where

applicable.

-

the

Amendments

to

IAS

21

-

The

Effects

of

Changes

in

Foreign

Exchange

Rates

,

which

clarify

the

criteria

for

translating

the

financial

statements

in

a

non-hyperinflationary

currency

into

a

hyperinflationary

currency.

32

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement Applicable, following endorsement by the European Union, for annual periods beginning on or after 01

January

2029:

-

the

accounting

standard

IFRS

20

-

Regulatory

Assets

and

Regulatory

Liabilities

,

which

establishes

the

requirements

for

the

recognition,

measurement,

presentation,

and

disclosure

of

"Regulatory

Assets"

and

"Regulatory

Liabilities"

and

related

revenues

/

costs.

The Group does not intend to opt for early application of the new standards, where allowed;

however,

a

study

has

been

launched

with

the

aim

of

defining

in

advance

the

application

methods

of

the

new

provisions

and

evaluating

the

possible

impacts.

Estimates and assumptions These half-year condensed financial statements, prepared in accordance with IFRS, contain estimates and

assumptions

made

by

the

Group

relating

to

assets

and

liabilities,

costs,

revenues,

other

comprehensive

gains/losses

and

contingent

liabilities

at

the

interim

reporting

date.

These

estimates

are

based

on

past

experience

and

assumptions

considered

to

be

reasonable

and

realistic,

based

on

the

information

available

at

the

time

of

making

the

estimate.

The assumptions relating to these estimates are periodically reviewed and the related effects

reflected

in

the

income

statement

in

the

same

period:

actual

results

could

therefore

differ

from

these

estimates.

For more information about the main assumptions used by the Group see the section “Estimates and

assumptions”

found

in

the

notes

to

the

consolidated

financial

statements

at

31

December

2025.

These more complex assessments are typically done only when the annual report is being drafted as all

the

information

that

might

be

needed

are

available

only

at

that

time;

for

example,

the

actuarial

valuations

needed

to

determine

provisions

for

employee

benefits

are

generally

done

at

the

same

time

as

the

drafting

of

the

annual

report,

with

the

exception

of

when

a

plan

is

being

amended

or

liquidated.

Finally, as regards the economic forecasts, the context, marked by pronounced macroeconomic

complexity

and

trade

uncertainties,

entails

reduced

visibility

and

encourages

the

maintenance

of

a

cautious

attitude.

Intangible assets and property, plant and equipment Taking into consideration the most recent information available and currently foreseeable scenarios, the

Group

has

not

identified

the

emergence

of

impairment

indicators

for

intangible

and

tangible

assets

recognized

in

the

financial

statements.

Allowance for doubtful accounts The economic conditions of customers were investigated in order to verify the possible impact on the

recoverability

of

trade

receivables.

The allowance for doubtful accounts reflects the estimate of expected losses on trade receivables

recognized

in

the

financial

statements

and

not

covered

by

insurance.

Changes

in

the

economic

environment

could

deteriorate

the

economic

conditions

of

some

of

the

Group's

customers,

with

an

impact

on

the

recoverability

of

trade

receivables,

for

the

portion

not

covered

by

insurance.

33

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement Inventories Inventories are presented net of provisions for raw materials and finished products considered

obsolete

or

slow

moving,

taking

into

account

their

future

expected

use

and

realizable

value.

With

regard

specifically

to

the

Ukrainian

branch,

the

stock

is

stored

at

a

secured

warehouse

of

a

logistics

provider

and

the

Group

has

carefully

revisited

its

valuations

in

light

of

the

current

situation.

Derivatives The Group verified that the hedges of financial instruments, both prospective and retrospective,

were

still

effective.

Provisions for contingencies and other charges The Group makes provisions for disputes or risks of various kinds, concerning issues and subjects

under

the

jurisdiction

of

different

countries.

These

provisions

have

been

assessed

based

on

updated

information

that

takes

into

account

the

possible

effects

deriving

from

the

current

context.

34

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement Translation of balances in foreign currencies The following exchange rates have been used:

30/06/2026

30/06/2025

31/12/2025

Period-end exchange

rate

(*)

Period-end exchange

rate

(*)

Period-end exchange

rate

(*)

Period-end exchange

rate

(*)

Period-end exchange

rate

(*)

Period-end exchange

rate

(*)

Australian

dollar

AUD

1.6544

1.6612

1.7948

1.7233

1.7581

1.7518

Brazilian

real

BRL

5.9003

6.0119

6.4384

6.2909

6.4364

6.3072

Canadian

dollar

CAD

1.6220

1.6075

1.6027

1.5403

1.6088

1.5787

Swiss

franc

CHF

0.9224

0.9179

0.9347

0.9414

0.9314

0.9370

Chilean

peso

CLP

1,050.7400

1,041.4206

1,100.9700

1,043.2367

1,058.1300

1,074.6100

Chinese

renminbi

(Yuan)

CNY

7.7314

8.0099

8.3970

7.9260

8.2262

8.1185

Czech

koruna

CZK

24.2560

24.3130

24.7460

25.0012

24.2370

24.6879

British

pound

GBP

0.8618

0.8673

0.8555

0.8423

0.8726

0.8568

Hong

Kong

dollar

HKD

8.9350

9.1303

9.2001

8.5186

9.1464

8.8104

Hungarian

forint

HUF

356.3000

372.1833

399.8000

404.5188

385.1500

397.7675

Japanese

yen

JPY

185.0800

184.4698

169.1700

162.0855

184.0900

169.0435

South

Korean

won

KRW

1,767.0800

1,730.4239

1,588.2100

1,556.9983

1,696.9400

1,605.4500

Tenge

Kazakistan

KZT

550.1900

567.6429

609.3100

559.3533

592.3300

589.5300

Mexican

peso

MXN

19.9030

20.3760

22.0899

21.8094

21.1180

21.6705

Malaysian

ringgit

MYR

4.6544

4.6447

4.9365

4.7812

4.7682

4.8339

New

Zealand

dollar

NZD

2.0136

1.9873

1.9334

1.8830

2.0380

1.9422

Polish

zloty

PLN

4.2955

4.2418

4.2423

4.2310

4.2210

4.2397

Romanian

leu

RON

5.2439

5.1421

5.0785

5.0039

5.0968

5.0424

Russian

rouble

RUB

88.6472

89.2890

92.2785

94.8936

92.0938

94.2724

Swedish

krona

SEK

11.0935

10.7882

11.1465

11.0933

10.8215

11.0663

Serbian

dinar

RSD

117.2176

117.3817

117.1809

117.2247

117.3057

117.2042

Singapore

dollar

SGD

1.4754

1.4909

1.4941

1.4463

1.5105

1.4756

Baht

THB

37.8620

37.4337

38.1250

36.6160

37.2180

37.1160

Turkish

lira

TRY

53.1642

52.0722

46.5682

41.1116

50.4838

44.8161

Ukrainian

hryvnia

UAH

51.0334

51.0700

48.9856

45.4892

49.7947

47.1098

US

dollar

USD

1.1394

1.1670

1.1720

1.0930

1.1750

1.1300

South

African

rand

ZAR

18.6544

19.1407

20.8411

20.0900

19.4439

20.1789

(*) Source: Bank of Italy. Source for RUB period-end and average exchange rate: Central Bank of Russia.

35

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement CHANGE IN THE SCOPE OF CONSOLID ATION On 19 March 2026, as part of the Professional division's growth strategy, the Group acquired 100% of the

shares

of

the

company

Coffee

Capital

B.V.

(and

its

subsidiaries

Eversys

Nederland

B.V.

and

EverRENT

B.V.),

a

Dutch

distributor

for

Eversys,

with

the

aim

of

strengthening

the

latter's

direct

presence

in

Europe.

The transaction qualifies as a business combination under IFRS 3, as the acquired assets and assumed

liabilities

constitute

a

business.

The total value of the transaction, including the estimate of the variable consideration provided for by the

agreements,

was

provisionally

set

at

€

5,579

thousand;

the

definition

of

the

final

value

is

underway.

Consequently, an allocation of the transaction consideration to the acquired assets and liabilities was

provisionally

carried

out,

pending

the

definitive

information

that

will

allow

the

finalization

of

the

values.

The final purchase price allocation will be determined within twelve months from the acquisition. The values of the newly acquired company were included in the scope of consolidation for the first

time

on

31

March

2026,

limited

to

the

balance

sheet

items.

The

income

statement

figures

were

instead

included

starting

from

01

April

2026.

( €

/000)

Total

value

of

the

transaction

5,579

Temporary

fair

value

of

acquired

net

assets

5,317

Goodwill

262

A summary of the allocation of the transaction consideration to the acquired assets and liabilities is

reported

below.

36

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement This allocation is provisional, pending the final information that will allow the finalization of the values.

Temporary Fair value measured at the

purchase

time

( €

/000)

INTANGIBLE

ASSETS

34

PROPERTY,

PLANT

AND

EQUIPMENT

1,370

EQUITY

INVESTMENTS

AND

OTHER

FINANCIAL

ASSETS

591

INVENTORIES

2,741

TRADE

RECEIVABLES

796

CURRENT

TAX

ASSETS

104

OTHER

RECEIVABLES

139

CASH

AND

CASH

EQUIVALENTS

445

Total

assets

6,220

FINANCIAL

PAYABLES

216

TRADE

PAYABLES

56

OTHER

PAYABLES

631

Total

liabilities

903

Net

assets

(liabilities)

5,317

Acquired

share

(100%)

5,317

SEASONALITY OF BUSINE SS The Group's business is traditionally seasonal, with first-half revenues and profit proportionately

lower

than

those

of

the

year

as

a

whole.

37

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement COMMENTS ON THE INCOME STATEMENT 1. REVENUE S In the first half of 2026 revenues, including revenues from sales and services and other revenues,

amounted

to

€

1,676,338

thousand

( €

1,584,214

thousand

in

the

first

half

of

2025).

Revenues are broken down by geographical area as follows:

1st

Half

2026

%

revenues

1st

Half

2025

%

revenues

Change

Change

%

Europe

1,013,053

60.4%

960,578

60.6%

52,475

5.5%

America

314,284

18.8%

279,007

17.6%

35,277

12.6%

Asia

Pacific

257,800

15.4%

244,030

15.4%

13,770

5.6%

MEIA

91,201

5.4%

100,599

6.4%

(9,398)

-9.3%

Total

1,676,338

100.0%

1,584,214

100.0%

92,124

5.8%

Comments on the most significant changes can be found in the "Markets" section of the report on operations. "Other revenues" is broken down as follows:

1st

Half

2026

1st

Half

2025

Change

Freight

reimbursement

4,725

3,897

828

Grants

and

contributions

3,331

2,842

489

Commercial

rights

572

945

(373)

Damages

reimbursed

544

1,352

(808)

Other

income

20,479

17,775

2,704

Total

29,651

26,811

2,840

Regarding Italian companies, with reference to Law no. 124 of 4 August 2017 regulating transparency in

public

funding,

it

should

be

noted

that

the

item

“Grants

and

contributions”

includes

€ 212

thousand

relating

to

income

accounted

for

on

an

accrual

basis

for

incentives

for

energy

production

from

photovoltaic

systems

connected

to

the

grid

and

relating

to

plants

located

at

Italian

facilities.

The

disbursing

entity

is

Gestore

dei

Servizi

Energetici

GSE

S.p.A.

This item also includes public grants received for the expansion of the production plant in Romania. The item “Other income” includes income deriving from installation, maintenance and support

contracts

for

the

Group's

products,

particularly

with

reference

to

the

Professional

sector,

amounting

to

€

8,108

thousand

( €

5,056

thousand

in

the

first

half

of

2025).

38

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

2. RAW AND ANCILLAR Y MATERIALS, CONSUMABLE S AND GOODS The breakdown is as follows:

1st

Half

2026

1st

Half

2025

Change

Parts

378,873

365,971

12,902

Finished

products

329,392

317,266

12,126

Raw

materials

133,446

118,986

14,460

Other

purchases

7,955

10,849

(2,894)

Total

849,666

813,072

36,594

3. CHANGE IN INVENT ORIE S The difference between the overall change in inventories reported in the income statement and the

change

in

balances

reported

in

the

statement

of

financial

position

is

due

to

the

effect

of

translation

differences

of

foreign

subsidiaries'

financial

statements

and

to

the

change

in

the

scope

of

consolidation.

4. PAYROLL COSTS

This

item

includes

production-related

payroll

costs

of

€

91,355

thousand

( €

90,117

thousand

in

the

first

half

of

2025).

In

2026,

the

item

includes

non-recurring

expenses

for

corporate

reorganizations

of

€

1,032

thousand

( €

1,325

thousand

in

the

first

half

of

2025).

The figures relating to provisions for employee benefits allocated by certain Italian and foreign Group

companies

are

summarized

in

note

34.

Employee

benefits

.

The

item

includes

€ 804

thousand

relating

to

the

costs

for

the

period

against

the

existing

stock

option/phantom

stock

option

plans

( €

6,640

thousand

in

the

first

half

of

2025);

for

further

details

please

refer

to

note

27.

Share-based

incentive

plans

.

The breakdown of the Group's workforce by category is summarized in the following table:

30/06/2026

30/06/2025

Blue

collars

6,421

6,584

White

collars

3,610

3,609

Managers

400

376

Total

10,431

10,569

39

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 5. SERVICE S AND OTHER OPERA TING EXPENSE S These are detailed as follows:

1st

Half

2026

1st

Half

2025

Change

Advertising

and

Promotional

expenses

199,759

184,341

15,418

Transport

(for

purchases

and

sales)

80,615

75,962

4,653

Subcontracted

work

25,093

23,997

1,096

Consulting

services

21,794

21,188

606

Technical

support

19,434

14,221

5,213

Storage

and

warehousing

14,920

13,907

1,013

Rentals

and

leasing

12,240

11,710

530

Commissions

11,687

10,061

1,626

Travel

8,591

8,783

(192)

Power

7,405

7,182

223

Insurance

5,921

5,727

194

Maintenance

3,861

4,500

(639)

Other

utilities

and

cleaning

fees,

security,

waste

collection

3,190

3,461

(271)

Postage,

telegraph

and

telephones

2,911

2,668

243

Directors'

and

statutory

auditors'

emoluments

1,928

2,718

(790)

Other

sundry

services

44,080

42,230

1,850

Total

services

463,429

432,656

30,773

Sundry

taxes

25,833

40,640

(14,807)

Other

6,410

6,000

410

Total

other

operating

expenses

32,243

46,640

(14,397)

Total

495,672

479,296

16,376

In

the

first

half

of

2026

the

item

includes

non-recurring

expenses

of

€

1,885

thousand.

The

item

"Rentals

and

leasing"

includes

€

1,423

thousand

in

commercial

rights

( €

1,495

thousand

in

the

first

half

of

2025).

It

also

includes

operating

costs

relating

to

contracts

that

are

not

or

do

not

contain

a

lease

( €

8,634

thousand,

€

8,479

thousand

in

the

first

half

of

2025),

as

well

as

costs

relating

to

leases

of

less

than

twelve

months'

duration

( €

1,558

thousand,

€

1,009

thousand

in

the

first

half

of

2025)

or

relating

to

low-value

assets

( € 625

thousand,

€ 727

thousand

in

the

first

half

of

2025);

for

further

information

please

refer

to

note

15.

Leases

.

The

item

"Sundry

taxes"

includes

net

income

of

€

18.4

million,

deriving

from

the

reimbursement

of

the

portion

of

IEEPA

duties

(imposed

by

the

United

States

starting

from

the

early

months

of

2025

using

the

emergency

powers

provided

by

the

International

Emergency

Economic

Powers

Act),

which

were

subsequently

deemed

unlawful.

40

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

6. PROVISIONS

The

item

mainly

includes

net

provisions

for

contingencies

and

other

charges

of

€

13,014

thousand

and

€ 635

thousand

in

provisions

for

doubtful

accounts.

The

main

changes

in

this

item

are

discussed

in

note

35.

Other

provisions

for

non-current

contingencies

and

charges

.

7. AMOR TIZATION The breakdown is as follows:

1st

Half

2026

1st

Half

2025

Change

Amortization

of

intangible

assets

15,486

17,427

(1,941)

Depreciation

of

property,

plant

and

equipment

33,490

33,841

(351)

Depreciation

of

Right

of

Use

assets

13,216

13,343

(127)

Total

62,192

64,611

(2,419)

More details about amortization and depreciation can be found in the tables reporting movements in intangible assets and property, plant and equipment. 8. NON-RE CURRING INCOME/(EXPENSE S) In these financial statements, some items of a non-recurring nature resulting in overall net expenses of

€

2,917

thousand

have

been

shown

separately.

This

item

refers

primarily

to

costs

related

to

some

corporate

reorganizations

underway

and

consulting

services.

The non-recurring amounts are shown in the income statement, in the corresponding item of the statement.

41

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 9. NET FINANCIAL INCOME (EXPENSE S) Net financial income and expenses are broken down by nature as follows:

1st

Half

2026

1st

Half

2025

Change

Net

interests

3,975

3,610

365

Interest

for

leasing

(1,257)

(1,374)

117

Other

financial

income

(expenses)

(3,641)

(4,971)

1,330

Other

net

financial

income

(expenses)

(923)

(2,735)

1,812

Exchange

differences

and

gains

(losses)

on

currency

hedges

*

5,942

2,145

3,797

Share of profit of equity investments consolidated by the equity

method

924

2,207

(1,283)

Net

financial

income

(expenses)

5,943

1,617

4,326

(*) The

item

includes

€ 7

thousand

relating

to

exchange

rate

losses

on

leases

accounted

for

in

accordance

with

IFRS

16

Leases

.

“Net

interests”

includes

interest

received

on

the

Group’s

investments

for

an

amount

of

€

12,979

thousand

( €

13,089

thousand

in

the

half

year

of

2025),

net

of

the

bank

interest

on

the

Group’s

financial

debt

(recalculated

using

the

amortized

cost

method),

and

the

cost

of

other

financial

instruments

for

an

amount

of

€

9,004

thousand

( €

9,479

thousand

in

the

half

year

of

2025).

Interest for leasing is equal to the portion of financial expenses payable matured in the reporting

period

on

a

liability,

recognized

in

accordance

with

IFRS

16

Leases.

For

more

information

see

note

15.

Leases

.

“Other financial income (expenses)” includes bank charges, financial expenses arising from the

discounting

of

employee

benefits

and

other

obligations

for

a

total

of

€

5,456

thousand

( €

6,332

thousand

in

the

first

half

of

2025),

which

are

reported

net

of

financial

income

for

a

total

of

€

1,815

thousand

( €

1,361

thousand

in

the

first

half

of

2025)

relating

mainly

to

the

temporary

change

in

value

deriving

from

the

fair

value

measurement

of

certain

investments

and

to

the

interest

income

relating

to

the

reimbursement

of

IEEPA

duties

in

the

USA.

“Exchange differences and gains (losses) on currency hedges” includes the rate differentials on

currency

risk

hedges,

as

well

as

the

exchange

differences

linked

to

consolidation.

“Share of profit of equity investments consolidated by the equity method” includes income from the

joint

venture

DL/TCL

Holdings

(HK)

Ltd.

42

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 10. INCOME TAXES These are analyzed as follows:

1st

Half

2026

1st

Half

2025

Change

Current

income

taxes:

-

Income

taxes

51,268

43,212

8,056

-

IRAP

(Italian

regional

business

tax)

2,823

3,873

(1,050)

Deferred

(advanced)

taxes

466

(7,010)

7,476

Total

54,557

40,075

14,482

Current income taxes include the effects deriving from the application of the Pillar 2 regulations

which,

at

30

June

2026,

based

on

the

information

known

or

reasonably

estimable,

can

be

quantified

at

€ 0.8

million.

The allocation was recognized in the income statement as an increase to “Income taxes” and to

liabilities

under

“Tax

payables”.

The

Group

will

continue

to

assess

the

impact

of

the

Pillar

2

income

tax

regulations,

monitoring

future

financial

results.

43

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement COMMENTS ON THE STATEMENT OF FINANCIAL POSITION: ASSETS NON-CURRENT ASSET S 11. GOOD WILL The item refers to goodwill recognized following business combinations. The change in the balance relates to the effect of the translation at the exchange rate as of 30 June

2026

of

goodwill

recognized

in

foreign

currency

upon

the

acquisition

of

foreign

operations

and

to

the

acquisition

of

the

Dutch

distributor

of

Eversys.

Goodwill is not amortized because it is considered to have an indefinite useful life. Instead, it is tested for

impairment

at

least

once

a

year

to

identify

any

evidence

of

loss

in

value.

For the purposes of impairment testing, goodwill is allocated to the CGUs (cash generating units), as

follows:

Cash-generating

unit

30/06/2026

31/12/2025

De'Longhi

25,162

25,162

Kenwood

17,120

17,120

Braun

48,836

48,836

Capital

Brands

177,612

172,231

Eversys

98,069

96,862

La

Marzocco

285,071

276,412

Total

651,870

636,623

The purpose of the impairment test is to verify the net invested capital of the cash-generating units

(CGUs),

meaning

the

present

value

of

the

future

cash

flows

expected

to

be

derived

from

continuous

use

of

the

assets;

any

cash

flows

arising

from

extraordinary

events

are

therefore

ignored.

Specifically, the value in use is determined by applying the “discounted cash flows” method, applied to

the

cash

flows

resulting

from

three-year

plans

approved

by

management.

The impairment test carried out at the end of 2025 on the basis of discount rates reflecting current

market

assessments,

of

the

time

value

of

money

and

the

risks

specific

to

the

individual

cash-generating

units,

did

not

reveal

any

indicator

that

these

assets

might

have

suffered

an

impairment

loss.

44

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement Estimating the recoverable value of the cash-generating units, however, calls for assumptions and

estimates

to

be

made

by

management.

Different

factors

linked

also

to

how

this

difficult

market

environment

evolves

could

also

make

it

necessary

to

redetermine

the

value

of

goodwill.

The

circumstances

and

events

which

could

result

in

the

need

for

further

impairment

testing

are

monitored

constantly

by

the

Group.

As at 30 June 2026, given the confirmation of the medium-term strategic guidelines and despite a

complex

economic

context,

the

assumptions

made

during

the

preparation

of

the

annual

financial

statements

as

at

31

December

2025

are

maintained.

Reference

is

made

to

said

financial

statements

for

further

information,

and

it

is

believed

that

there

are

no

indicators

of

impairment

that

would

require

an

update

of

the

impairment

test.

12. OTHER INTANGIBLE ASSET S These are analyzed as follows:

30/06/2026

31/12/2025

Gross

Net

Gross

Net

New

product

development

costs

183,062

23,821

177,917

24,406

Patents

119,788

52,814

118,252

54,867

Trademarks

and

similar

rights

514,080

406,378

507,882

400,313

Work

in

progress

and

advances

34,804

30,942

31,792

27,930

Other

148,103

76,237

145,490

79,659

Total

999,837

590,192

981,333

587,175

The following table reports movements in the main asset categories during the first half of 2026:

New product development

costs

Patents

Trademarks and similar

rights

Work in progress and

advances

Other

Total

Net

opening

balance

24,406

54,867

400,313

27,930

79,659

587,175

Additions

1,065

132

20

7,322

535

9,074

Amortization

(5,730)

(3,590)

(133)

-

(6,033)

(15,486)

Change in the scope of

consolidation

-

34

-

-

-

34

Translation differences and

other

movements

*

4,080

1,371

6,178

(4,310)

2,076

9,395

Net

closing

balance

23,821

52,814

406,378

30,942

76,237

590,192

(*)

“Other

movements”

refers

primarily

to

the

reclassification

of

intangible

assets.

The item “New product development costs” refers to the capitalization of costs relative to new

product

development

projects,

based

on

detailed

reporting

and

analysis

of

the

costs

incurred

and

the

estimated

future

usefulness

of

such

projects.

45

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The

Group

has

capitalized

a

total

of

€

7,955

thousand

in

development

costs

as

intangible

assets

in

the

first

half

of

2026,

of

which

€

1,065

thousand

in

"New

product

development

costs"

for

projects

already

completed

at

the

reporting

date

and

€

6,890

thousand

in

"Work

in

progress

and

advances"

for

projects

still

in

progress.

"Patents" mostly refers to internal development costs and the subsequent cost of filing for patents and

to

costs

for

developing

and

integrating

data

processing

systems.

The

increase

primarily

refers

to

the

renewal

of

patents

and

software

licenses.

"Trademarks and similar rights" includes, among others, a few trademarks calculated based on an

indefinite

useful

life

in

accordance

with

IAS

38,

taking

into

account,

above

all,

brand

awareness,

economic

benefits,

reference

market

characteristics,

brand

specific

strategies

and

the

amount

of

investments

made

to

sustain

the

brands:

€

79.8

million

for

the

"De’

Longhi"

trademark,

€

95.0

million

for

the

perpetual

license

over

the

"Braun"

brand,

€

116.4

million

for

the

Nutribullet/MagicBullet

trademark,

€

39.4

million

for

the

Eversys

trademark,

and

€

74.6

million

for

the

La

Marzocco

trademark.

The impairment test, carried out at the end of the 2025 financial year for trademarks considered to

have

an

indefinite

useful

life,

did

not

reveal

any

significant

element

to

suggest

that

these

assets

may

have

suffered

an

impairment

loss.

As

at

30

June

2026,

given

the

confirmation

of

the

medium-term

strategic

guidelines

and

despite

a

complex

economic

context,

the

assumptions

made

during

the

preparation

of

the

annual

financial

statements

as

at

31

December

2025,

are

maintained.

Reference

is

made

to

said

financial

statements

for

further

information,

and

it

is

believed

that

there

are

no

impairment

indicators

that

would

require

an

update

of

the

impairment

test.

The item “Other intangible assets” mainly includes the value recognized in the purchase price

allocation

for

the

Capital

Brands

customer

portfolio,

which

is

subject

to

amortization

based

on

its

estimated

useful

life.

The

increase

in

the

first

half

of

2026

relates,

above

all,

to

IT

project

development

costs.

46

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 13. LAND , PROPER TY, PLANT AND MACHINER Y These are analyzed as follows:

30/06/2026

31/12/2025

Gross

Net

Gross

Net

Land

and

buildings

318,836

226,508

316,050

229,795

Plant

and

machinery

219,611

83,283

219,232

84,819

Total

538,447

309,791

535,282

314,614

The following table reports movements in the first half of 2026:

Land

and

buildings

Plant

and

machinery

Total

Net

opening

balance

229,795

84,819

314,614

Additions

1,407

4,711

6,118

Disposals

(138)

(206)

(344)

Amortization

(6,421)

(6,863)

(13,284)

Change

in

the

scope

of

consolidation

200

334

534

Translation

differences

and

other

movements

*

1,665

488

2,153

Net

closing

balance

226,508

83,283

309,791

(*)

The

amounts

related

to

'Other

movements'

primarily

refer

to

reclassifications

of

certain

fixed

assets

from

the

'Property,

plant

and

equipment

in

progress

and

advances'

item".

The additions to 'Land and buildings' primarily relate to investments made to complete structural

work

at

the

Treviso

headquarters.

Investments in 'Plant and machinery' mainly refer to the acquisition of production plants in Romania and

Italy.

47

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 14. OTHER TANGIBLE ASSET S Other tangible assets are analyzed as follows:

30/06/2026

31/12/2025

Gross

Net

Gross

Net

Industrial

and

commercial

equipment

454,682

67,612

442,428

69,654

Other

108,773

23,226

104,969

24,147

Work

in

progress

and

advances

27,501

27,501

22,725

22,725

Total

590,956

118,339

570,122

116,526

The following table reports movements in the first half of 2026:

Industrial and commercial

equipment

Other

Work in progress and

advances

Total

Net

opening

balance

69,654

24,147

22,725

116,526

Additions

9,895

2,986

9,205

22,086

Disposals

(251)

(197)

-

(448)

Amortization

(15,000)

(5,206)

-

(20,206)

Change

in

the

scope

of

consolidation

-

836

-

836

Translation

differences

and

other

movements

*

3,314

660

(4,429)

(455)

Net

closing

balance

67,612

23,226

27,501

118,339

(*)

The

amounts

related

to

'Other

movements'

primarily

refer

to

reclassifications

of

certain

fixed

assets

from

'Property,

plant,

and

equipment

in

progress

and

advances'

to

specific

categories.

The additions to "Industrial and commercial equipment" refer primarily to the purchase of moulds for the

manufacturing

of

new

products.

The increase in “Work in progress” refers mainly to the investments connected to the enhancement of

production

plants

in

Romania,

China

and

the

development

plan

for

the

headquarter

offices.

48

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 15. LEASES Existing leases are functional to the Group’s operations and refer mainly to the leasing of properties,

automobiles

and

other

capital

goods.

Leased right of use assets and related movements in the first half of 2026 are shown below:

Land and

buildings

Industrial and commercial

equipment

Plant and

machinery

Other

Total

Net

opening

balance

78,963

2,506

1,886

8,575

91,930

Additions

9,283

2,112

-

2,416

13,811

Disposals

(3,561)

-

-

(236)

(3,797)

Amortization

(10,633)

(426)

(120)

(2,037)

(13,216)

Translation

differences

and

other

movements

1,059

41

-

19

1,119

Net

closing

balance

75,111

4,233

1,766

8,737

89,847

In the first half 2026, the result for the period includes depreciation and amortization of leased assets for

€

13,216

thousand,

interest

payable

for

leases

for

€

1,257

thousand

and

exchange

losses

for

€ 7

thousand,

while

€

14,533

thousand

in

lease

payments

were

reversed.

At

30

June

2026

financial

liabilities

for

leases

of

€

91,253

thousand

(of

which

€

68,128

thousand

expiring

beyond

12

months)

and

financial

assets

for

advanced

payments

of

€ 150

thousand,

included

in

“Current

financial

receivables

and

assets”,

were

recognized

in

the

financial

statements

(please

refer

to

note

24).

The maturities of the undiscounted lease liabilities (based on contractual payments) are shown

below:

Undiscounted flows

at

30.06.2026

Payable within one

year

Payable

in

1-5

years

Payable in more than

five

years

Lease

liabilities

123,567

25,876

80,243

17,448

The impact of applying IFRS 16 - Leases on the Group's equity as of 30 June 2026, is negative and

estimated

at

€

1,643

thousand.

49

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 16. EQUITY INVE STMENT S Details of equity investments are as follows:

30/06/2026

31/12/2025

Equity

investments

consolidated

using

the

equity

method

6,871

5,568

Investment

measured

at

fair

value

54

54

Total

6,925

5,622

“Equity investments consolidated using the equity method” refers to the equity investments subject to

joint

control

as

per

contractual

agreements

and

associated

companies,

accounted

for

using

the

equity

method

in

accordance

with

IAS

28

–

Investments

in

associates

and

joint

venture.

The changes in the first half of 2026 are shown below:

30/06/2026

Net

opening

balance

5,568

Interest

in

net

profit

924

Exchange

rate

differences

379

Net

closing

balance

6,871

17. NON-CURRENT RECEIV ABLE S

The

balance

at

30

June

2026

of

€

5,687

thousand

mainly

refers

to

security

deposits

for

€

5,174

thousand

( €

4,495

thousand

at

31

December

2025)

and

to

€ 508

thousand

relating

to

financial

receivables

for

active

lease

contracts.

18. OTHER NON-CURRENT FINANCIAL ASSET S This line item refers to investments with primary counterparties, aimed at managing the liquidity

generated

by

the

Group.

These

are

financial

assets

that

are

intended

to

be

held

to

maturity

within

a

business

model

whose

objective

is

to

collect

contractual

cash

flows

represented

by

payments

of

principal

and

interest

on

specific

dates

and,

therefore,

accounted

for

using

the

amortized

cost

method.

The

item,

amounting

to

€

50,395

thousand,

mainly

includes

a

floating

rate

note

with

variable

semi-annual

coupons,

with

a

total

principal

value

of

€

50,200

thousand,

maturing

in

the

second

half

of

2027.

No signs of impairment emerged that would suggest the balances recognized in the financial

statements

have

suffered

an

impairment

loss.

50

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 19. DEFERRED TAX ASSET S AND DEFERRED TAX LIABILITIE S Deferred tax assets and deferred tax liabilities are analyzed as follows:

30/06/2026

31/12/2025

Deferred

tax

assets

84,089

83,601

Deferred

tax

liabilities

(100,655)

(98,260)

Net

closing

balance

(16,566)

(14,659)

"Deferred tax assets" and "Deferred tax liabilities" include the taxes calculated on temporary

differences

between

the

carrying

amount

of

assets

and

liabilities

and

their

corresponding

tax

base

(particularly

taxed

provisions

recognized

by

the

parent

company

and

its

subsidiaries),

the

tax

effects

associated

with

the

allocation

of

higher

values

to

fixed

assets

as

a

result

of

allocating

consolidation

differences

based

on

the

applicable

tax

rate

and

the

deferred

taxes

on

the

distributable

income

of

subsidiaries.

Deferred

tax

assets

are

calculated

mainly

on

provisions

and

consolidation

adjustments.

They

also

include

the

benefit

arising

from

the

carryforward

of

unused

tax

losses

which

are

likely

to

be

used

in

the

future

to

offset

taxable

income.

With reference to leases and other transactions which upon initial recognition result in taxable and

deductible

differences

of

the

same

amount,

the

item

includes

deferred

tax

assets

of

€

14,375

thousand

reported

net

of

deferred

tax

liabilities

of

€

14,199

thousand.

The net balance is analyzed as follow:

30/06/2026

31/12/2025

Temporary

differences

(18,269)

(16,039)

Tax

losses

1,703

1,380

Net

closing

balance

(16,566)

(14,659)

The change in the net liability balance was affected by an increase in equity recognized in the “Fair

value

and

cash

flow

hedge

reserve”

of

€ 368

thousand

following

the

fair

value

measurement

of

securities

and

cash

flow

hedges,

and

by

a

decrease

of

€ 52

thousand

recognized

under

“Profit

(loss)

carried

forward”

in

relation

to

the

recognition

in

the

statement

of

comprehensive

income

of

actuarial

gains

and

(losses)

in

accordance

with

IAS

19

-

Employee

benefits.

51

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement CURRENT ASSET S 20. INVENT ORIE S "Inventories", shown net of an allowance for obsolete and slow-moving goods, can be analyzed as

follows:

30/06/2026

31/12/2025

Finished

products

and

goods

671,444

482,108

Raw,

ancillary

and

consumable

materials

179,898

146,463

Work

in

progress

and

semi-finished

products

46,177

34,842

Inventory

writedown

allowance

(59,728)

(57,463)

Total

837,791

605,950

The value of inventories is stated after deducting an allowance for obsolete or slow-moving goods

totaling

€

59,728

thousand

( €

57,463

thousand

at

31

December

2025)

in

relation

to

products

and

raw

materials

that

are

obsolete

and

slow-moving

or

are

no

longer

of

strategic

interest

to

the

Group.

21. TRADE RECEIV ABLE S These are analyzed as follows:

30/06/2026

31/12/2025

Trade

receivables:

-

due

within

12

months

246,253

357,681

-

due

beyond

12

months

688 907

Allowance

for

doubtful

accounts

(7,870)

(7,019)

Total

239,071

351,569

Trade

receivables

are

stated

net

of

an

allowance

for

doubtful

accounts

of

€

7,870

thousand,

representing

a

reasonable

estimate

at

the

reporting

date

of

the

expected

losses

during

the

entire

life

of

the

receivables,

taking

into

account

the

fact

that

a

significant

portion

of

the

receivables

is

covered

by

insurance

policies

with

major

insurers.

52

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 22. CURRENT TAX ASSET S These are analyzed as follows:

30/06/2026

31/12/2025

Tax

payments

on

account

8,488

5,959

Direct

tax

receivables

4,836

2,132

Tax

refunds

requested

3,070

920

Total

16,394

9,011

There are no current tax assets due beyond 12 months. 23. OTHER RECEIV ABLE S "Other receivables" are analyzed as follows:

30/06/2026

31/12/2025

VAT

18,861

17,894

Advances

to

suppliers

5,400

3,963

Other

tax

receivables

4,564

4,540

Prepaid

insurance

costs

2,026

3,858

Employees

379 340

Other

35,100

18,707

Total

66,330

49,302

The item does not include relevant receivables due beyond 12 months.

53

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 24. CURRENT FINANCIAL RECEIV ABLE S AND ASSET S "Current financial receivables and assets" are analyzed as follows:

30/06/2026

31/12/2025

Fair

value

of

derivatives

34,898

6,743

Advances

for

leasing

contracts

150

394

Fair

value

of

other

current

financial

assets

53,646

72,541

Other

current

financial

assets

176,384

165,117

Total

265,078

244,795

More details on the fair value of derivatives can be found in note 33. Other financial payables. “Other current financial assets” includes the amount of investments made as part of financial

management

valued

at

amortized

cost.

25. CASH AND CASH EQUIV ALENT S This balance consists of cash held in bank current accounts and equivalent instruments, as well as

investments

in

cash

and

similar

assets.

Some Group companies, as part of the international cash pooling system, hold cash balances in

current

accounts

with

a

single

banking

institution,

which

are

partially

offset

by

financial

liabilities

of

€

38.0

million

that

the

same

companies

have

towards

the

same

banking

institution.

The

latter

therefore

acts

as

a

“clearing

house”

for

the

credit/debit

amounts

within

the

system.

Considering

the

substance

of

the

transactions

and

the

technical

procedures

of

the

international

cash

pooling

system,

the

asset

and

liability

balances

have

been

offset

in

the

consolidated

statement

of

financial

position,

as

provided

for

by

the

accounting

standard

IAS

32.

The

cash

balances

at

30

June

2026

include

€ 4

thousand

in

current

accounts

of

certain

subsidiaries

that

are

restricted,

having

been

given

as

collateral.

54

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

COMMENTS ON THE STATEMENT OF FINANCIAL POSITION: NET EQUITY AND

LIABILITIES

NET EQUITY The primary objective of the Group's capital management is to ensure that a solid credit rating and

adequate

capital

ratios

are

maintained

in

order

to

support

the

business

and

maximize

shareholder

value.

On 23 April 2026, the Annual General Meeting of De' Longhi S.p.A. resolved the distribution of a

dividend

of

€

0.85

per

share.

In

accordance

with

the

shareholders'

resolution,

payment

was

made

starting

from

20

May

2026,

with

the

coupon

detachment

date

being

18

May

2026,

and

the

record

date

on

19

May

2026.

Overall,

the

approved

dividends

amounted

to

€

126,828

thousand,

of

which

€

125,180

thousand

were

paid

during

the

first

half

of

2026.

The movement in the items comprising shareholders' equity is reported in the financial statements;

the

main

items

and

variations

are

commented

on

below.

26. TREASUR Y SHARE S On 30 April 2025, the Annual General Meeting had resolved to renew - by revoking the previous

shareholders'

resolution

-

the

authorization

for

the

purchase

and

disposal

of

treasury

shares

up

to

a

maximum

of

14.5

million

ordinary

shares

and,

therefore,

not

exceeding

one

fifth

of

the

share

capital,

taking

into

account

any

shares

held

by

the

Parent

Company

or

any

of

its

subsidiaries.

The authorization was approved, in accordance with provisions of law, for a maximum period of 18

months

(and,

therefore,

until

30

October

2026).

The authorization for the purchase and disposal of treasury shares was renewed again, under the

same

conditions,

for

a

further

18

months

(i.e.

until

23

October

2027)

by

the

Annual

General

Meeting

held

on

23

April

2026.

Starting from 13 April 2026, the Group launched a treasury share purchase program (share buyback),

under

the

terms

authorized

by

the

aforementioned

Shareholders'

Meetings,

which

is

ongoing

at

the

date

of

this

document.

The program aims to invest in shares of the Parent Company, in the interest of the same and of all

Shareholders,

given

the

performance

of

the

stock

market

prices

and

the

amount

of

available

liquidity

that

makes

this

operation

economically

convenient.

The share buyback has a maximum duration of 6 months, for an amount of approximately Euro 60

million

and

within

the

maximum

limit

of

the

number

of

shares

defined

by

the

shareholders'

resolution,

without

prejudice

to

cases

of

early

termination.

55

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement For the purposes of the program, De'Longhi S.p.A. has signed a contract with an intermediary who

proceeds

in

full

independence,

in

compliance

with

the

contractually

defined

parameters

and

criteria,

as

well

as

the

applicable

legislation

and

the

provisions

of

the

aforementioned

Shareholders'

Meetings.

During the first half of 2026, as part of the share buyback plan, the Group, through its parent

company

De’Longhi

S.p.A.,

purchased

818,107

shares

for

a

consideration

of

€

28,499

thousand.

In the same period, 15,000 treasury shares were used to cover the exercise of an equal number of

options

in

relation

to

the

share-based

incentive

plan

named

the

“2020-2027

Stock

Option

Plan”.

As of 30 June 2026, the treasury shares held in the portfolio amounted to 2,574,620 for a

consideration

of

€

82,072

thousand.

27. SHARE -BASED INCENTIVE PLANS There are two share-based incentive plans in place at 30 June 2026 referred to as the "2020-2027

Stock

Option

Plan"

and

the

"2024-2026

Performance

Shares

Plan",

respectively.

The “2020-2027 Stock Option Plan" was approved by shareholders of De’ Longhi S.p.A. during the

Annual

General

Meeting

held

on

22

April

2020.

In order to service this plan, the Shareholders’ Meeting approved an additional increase in share

capital

for

up

to

a

maximum

nominal

amount

of

€

4,500,000

to

be

carried

out

through

the

issue

of

a

maximum

of

3,000,000

ordinary

shares,

having

the

same

characteristics

as

the

ordinary

shares

outstanding

at

the

issue

date,

with

regular

dividend

rights,

if

the

treasury

shares

in

portfolio

were

not

sufficient.

The

aim

of

the

plan

is

to

encourage

the

loyalty

of

the

beneficiaries,

encouraging

their

stay

in

the

Group,

linking

their

remuneration

to

the

implementation

of

the

company

strategy

in

the

medium

to

long

term.

The

overall

duration

of

the

plan

is

about

8

years

and

in

any

case

the

deadline

is

set

for

31

December

2027.

The beneficiaries were identified by the Board of Directors based on the proposal of the

Remuneration

and

Appointments

Committee

or

the

Chief

Executive

Officer

of

the

Parent

Company

De’

Longhi

S.p.A.,

after

having

consulted

with

the

Board

of

Statutory

Auditors

based

on

their

respective

areas

of

expertise.

The options were granted free of charge: the beneficiaries, therefore, are not required to pay any sort of

consideration

upon

assignment.

Conversely,

the

exercise

of

the

options

and

the

resulting

subscription

of

the

shares

are

subject

to

payment

of

the

exercise

price.

Each option grants the right to subscribe one share at the conditions set out in the Regulations. The

exercise

price

is

equal

to

the

arithmetic

average

of

the

official

market

prices

recorded

by

the

Company’s

shares

on

the

Euronext

Milan

market

organized

and

managed

by

Borsa

Italiana

S.p.A.

in

the

180

calendar

days

prior

to

the

date

of

approval

of

the

2020-2027

Plan

and

the

relative

regulations

by

the

Annual

General

Meeting.

The options may be exercised by the beneficiaries - in one or more tranches - solely and exclusively

during

the

exercise

period,

which

falls

between:

−

15

May

2023

and

31

December

2027,

for

a

maximum

number

equal

to

50%

of

the

total

options

assigned

to

each

beneficiary,

without

prejudice

to

the

black-out

periods

described

in

Article

12

of

the

Regulations;

56

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement −

15

May

2024

and

31

December

2027,

for

the

remaining

50%

of

the

total

options

assigned

to

each

beneficiary,

without

prejudice

to

the

black-out

periods

described

in

Article

12

of

the

Regulations.

Options not exercised by the end of the exercise period will be considered forfeited, and the

beneficiary

will

not

be

entitled

to

any

indemnity

or

compensation

whatsoever.

The shares have regular dividend rights and, therefore, are equal to those of the other ordinary

shares

outstanding

at

the

date

of

their

issue

and

are

freely

available

and

therefore

freely

transferrable

by

the

beneficiary.

However, on the 55% post sell-to-cover portion of the shares, the Plan provides for a so-called

holding

period

(which

begins

at

the

time

the

option

is

exercised)

of

24

months

for

the

options

relative

to

the

first

exercise

period

and

12

months

for

those

relative

to

the

second

exercise

period,

during

which

a

portion

of

the

shares

acquired

and/or

subscribed

by

the

beneficiary,

is

subject

to

restrictions

on

sale

and/or

transfer.

Please refer to the Annual report on the 2026 remuneration policy and 2025 compensation paid for

further

information.

For the purposes of valuation of the plan under IFRS 2 – Share-based payments, two different

tranches

were

identified,

corresponding

to

a

number

of

options

broken

down

equally

into

the

two

exercise

periods

provided

for

by

the

plan.

This

results

in

a

different

unit

fair

value

for

each

individual

tranche.

The fair value of the stock options is represented by the value of the option at the assignment date

determined

by

applying

the

Black-Scholes

model,

which

takes

into

account

the

conditions

for

the

exercise

of

the

right,

the

current

value

of

the

share,

the

expected

volatility

and

the

risk-free

interest

rate,

and

considering

the

non-vesting

conditions.

Volatility was estimated using the data provided by a market information provider and corresponds to the

estimated

volatility

of

the

stock

over

the

period

covered

by

the

plan.

The fair value of the options assigned and the assumptions made for its evaluation are as follows:

Award

(05.04.2020)

Award

(05.14.2020)

Award

(05.15.2020)

Award

(05.20.2020)

Award

(11.05.2020)

First

tranche

fair

value

4.4283

4.591

4.4598

4.4637

12.402

Second

tranche

fair

value

4.3798

4.536

4.4034

4.4049

12.0305

Expected

dividends

2.80%

2.80%

2.80%

2.80%

2.80%

Estimated

volatility

(%)

35.00%

34.00%

33.00%

32.00%

28.00%

Historic

volatility

(%)

37.00%

37.00%

37.00%

37.00%

37.00%

Market

interest

rate

(0.2%)

(0.2%)

(0.2%)

(0.2%)

(0.2%)

Expected

life

of

the

rights

(years)

7.7 7.7

7.7 7.7

7.7

Exercise

price

(Euro)

16.982

16.982

16.982

16.982

16.982

As of 31 December 2025, the unexercised options related to the "2020-2027 Stock Option Plan"

amounted

to

45,000;

during

the

first

half

of

2026

this

number

decreased

to

30,000

following

the

exercise

of

15,000

options,

executed

through

the

use

of

treasury

shares

in

the

portfolio.

57

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The “2024-2026 Performance Shares Plan" was approved by the Annual General Meeting of De’

Longhi

S.p.A.

on

19

April

2024.

The

Plan

is

reserved

for

the

Chief

Executive

Officer

and

General

Manager

of

the

Parent

Company

De’Longhi

S.p.A.,

as

well

as

a

limited

number

of

top

managers

with

strategic

responsibilities

identified

by

the

Board

of

Directors,

as

proposed

by

the

Remuneration

and

Appointments

Committee,

after

having

consulted

with

the

Board

of

Statutory

Auditors

based

on

their

respective

areas

of

expertise.

The

purpose

of

the

plan

is

to

incentivize

the

beneficiaries

to

achieve

the

Group’s

medium/long-term

industrial

performance

by

creating

a

rewarding,

equitable

and

sustainable

remuneration

system,

consistent

with

the

regulatory

framework

and

with

stakeholders’

expectations.

The Plan entails the free assignment of up to a maximum of 1,200,000 rights, each one of which

entitles

the

beneficiary

to

the

free

assignment

of

1

De’

Longhi

share

for

each

right

assigned,

subject

to

the

achievement

of

certain

predetermined

financial

and

non-financial

performance

targets

(measured

at

the

end

of

the

three-year

vesting

period

2024-2025-2026),

as

well

as

based

on

mechanisms

and

conditions

defined

by

the

plan

itself.

The

plan

provides

for

a

holding

period

of

24

months

on

the

50%

post

sell-to-cover

portion

of

the

shares

during

which

a

portion

of

the

shares

acquired

and/or

subscribed

by

the

beneficiary,

is

subject

to

restrictions

on

sale

and/or

transfer.

The Plan will be serviced using treasury shares in portfolio or, if not sufficient, shares resulting from a

free

capital

increase,

also

in

multiple

tranches

for

a

maximum

nominal

amount

of

Euro

1,800,000,

and

for

a

maximum

of

1,200,000

shares,

for

which

the

Shareholders'

Meeting

has

granted

specific

mandate

to

the

Board

of

Directors.

The

assignment

of

the

shares

will

take

place

after

the

Annual

General

Meeting

that

will

approve

the

financial

statements

and

acknowledge

the

Group's

consolidated

financial

statements

at

31

December

2026.

The Plan will end during 2029, once the 24-month lock-up period is over. For the purposes of evaluating the plan under IFRS 2 - Share-based payments, the unit fair value was

calculated,

which

is

represented

by

the

value

of

the

right

at

the

grant

date

determined

by

applying

the

Black-Scholes

model,

which

takes

into

account

the

conditions

for

the

exercise

of

the

right,

the

current

value

of

the

share,

the

expected

volatility

and

the

risk-free

interest

rate,

and

considering

the

non-vesting

conditions.

Volatility

was

estimated

using

data

provided

by

a

market

information

provider

and

corresponds

to

the

estimated

volatility

of

the

stock

over

the

period

covered

by

the

plan.

The fair value of the assigned rights and the assumptions made for its evaluation are as follows:

First

award

First

tranche

fair

value

27.68

Expected

dividends

2.45%

Historic

volatility

(%)

34.63%

Market

interest

rate

3.10%

Expected

life

of

the

rights

(years)

3.15

Exercise

price

(Euro)

-

58

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement At 30 June 2026, based on the available information and expected performance levels, the

outstanding

rights

are

estimated

at

861,473

(estimate

unchanged

from

31

December

2025).

For further information regarding the share-based incentive plans, please refer to the Annual report on

the

2026

remuneration

policy

and

2025

compensation

paid

.

28. SHARE CAPIT AL

At

30

June

2026

the

share

capital

comprises

151,294,737

ordinary

shares

for

a

total

of

€

226,942

thousand.

29. RESERVES The details are as follows:

30/06/2026

31/12/2025

Change

Share

premium

reserve

46,744

46,767

(23)

Legal

reserve

45,388

45,388

-

Other

reserves:

-

Extraordinary

reserve

158,735

65,880

92,855

-

Fair

value

and

cash

flow

hedge

reserve

2,048

683

1,365

-

Stock

option

reserve

19,618

15,279

4,339

-

Reserve

for

treasury

shares

(82,072)

(54,031)

(28,041)

-

Currency

translation

reserve

2,113

(35,177)

37,290

-

Profit

(loss)

carried

forward

1,494,937

1,398,395

96,542

Total

1,687,511

1,483,184

204,327

Following the public offering at the time of the listing on the Milan electronic stock market, now

Euronext

Milan,

on

23

July

2001,

a

Share

premium

reserve

was

set

up,

which

was

subsequently

reduced

following

the

demerger

transaction

in

favor

of

DeLclima

S.p.A.,

and

whose

value

at

31

December

2025

was

€

46,767

thousand

following

the

exercise

of

options

relative

to

the

“2016-2022

Stock

Option

Plan”

and

the

“2020-2027

Stock

Option

Plan”.

During

the

first

half

of

2026,

the

reserve

underwent

a

further

change

for

a

total

of

€ 23

thousand

in

relation

to

the

exercise

of

the

options

of

the

“2020-2027

Stock

Option

Plan”.

At

30

June

2026

the

value

of

this

reserve

is

€

46,744

thousand.

The

“Legal

reserve”,

whose

value

at

31

December

2025

was

€

45,388

thousand,

did

not

change

during

the

first

half

of

2026.

59

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The

Extraordinary

reserve

increased

by

a

total

of

€

92,855

thousand

due

to

the

allocation

of

the

2025

net

income

approved

by

the

Annual

General

Meeting

of

De'

Longhi

S.p.A.

on

23

April

2026.

The

Fair

value

and

cash

flow

hedge

reserve

is

recorded

for

a

value

of

€

2,048

thousand,

net

of

the

tax

effect

of

€ 712

thousand;

the

change

recognized

in

the

statement

of

comprehensive

income

during

the

first

half

of

2026

derives

from

the

negative

effect

of

the

fair

value

valuation

of

the

hedging

financial

instruments

(cash

flow

hedge)

and

available-for-sale

securities

for

€

1,859

thousand

net

of

the

tax

effect

for

€ 494

thousand.

The Stock option reserve refers to the share-based incentive plans named “2020-2027 Stock Option

Plan”

and

“2024-2026

Performance

Shares

Plan”,

already

described

in

note

27.

Share-Based

Incentive

Plans.

At

30

June

2026

the

reserve

has

a

value

of

€

19,618

thousand,

which

represents

the

fair

value

of

the

rights

determined

at

the

assignment

date,

recognized

on

a

straight-line

basis

over

the

period

between

the

grant

date

and

the

vesting

date.

Relating

to

the

“2020-2027

Stock

Option

Plan”,

the

reserve,

amounting

to

€ 547

thousand

at

31

December

2025,

underwent

a

decrease

of

€ 180

thousand

in

relation

to

the

exercise

of

the

options

that

occurred

during

the

first

half

of

2026.

Relating

to

the

“2024-2026

Performance

Shares

Plan”,

the

reserve,

amounting

to

€

14,732

thousand

at

31

December

2025,

was

increased

to

€

19,251

thousand

during

the

first

half

of

2026

as

a

result

of

the

fair

value

measurement

of

the

rights

awarded.

The

“Treasury

shares

reserve”

(negative

for

€

82,072

thousand

at

30

June

2026)

represents

the

countervalue

of

2,574,620

treasury

shares

purchased

under

the

buyback

program

net

of

securities

used

to

cover

the

exercise

of

options.

"Profit (loss) carried forward" includes the retained earnings of the consolidated companies and the

effects

of

adjustments

to

comply

with

Group

accounting

policies

and

consolidation

adjustments.

Below is a reconciliation between the net equity and profit reported by the Parent Company, De’

Longhi

S.p.A.,

and

the

figures

shown

in

the

consolidated

financial

statements:

Net equity

30.06.2026

Net result 1st

Half

2026

Net equity

31.12.2025

Net result

2025

De'

Longhi

S.p.A.

financial

statements

710,015

130,346

730,223

219,685

Share of subsidiaries' equity and results for period attributable to the

Group,

after

deducting

carrying

value

of

the

investments

849,589

62,040

761,871

126,338

Allocation of goodwill arising on consolidation and related amortization and

reversal

of

goodwill

recognized

for

statutory

purposes

810,821

(577)

796,168

1,740

Elimination

of

intercompany

profits

(87,196)

(22,841)

(64,226)

(6,303)

Other

adjustments

239

(1)

216

(40)

Consolidated

financial

statements

2,283,468

168,967

2,224,252

341,420

Minority

227,648

27,600

197,801

25,095

Consolidated

financial

statements-Group

portion

2,055,820

141,367

2,026,451

316,325

60

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 30. MINORITIE S’ POR TION OF NET EQUITY This item refers to the portion of net equity in a few Group companies not attributable, directly or

indirectly,

to

the

De’Longhi

Group.

In particular, minority interests emerged during the business combination between La Marzocco and the

Eversys

group.

Following the completion of the transaction, which took place on 27 February 2024, the Group

controls

approximately

61.6%

of

the

resulting

entity,

while

minority

shares

are

held

by

DLI

S.A.

(approximately

26.5%)

and

the

previous

minority

shareholders

of

La

Marzocco

(for

a

total

of

approximately

12%).

In detail:

Total

Net

opening

balance

197,801

Interest

in

net

profit

27,600

Changes

through

OCI

3,273

Dividend

distribution

to

minority

interests

(1,026)

Net

closing

balance

227,648

31. EARNINGS PER SHARE Earnings per share are calculated by dividing the earnings for the year by the weighted average

number

of

the

Company’s

shares

outstanding

during

the

period.

30/06/2026

Weighted

average

number

of

shares

outstanding

149,360,229

Weighted

average

number

of

diluted

shares

outstanding

149,399,562

The dilutive impact is not significant at 30 June 2026 and, therefore, the diluted net earnings per

share

does

not

differ

significantly

from

the

basic

net

earnings

per

share

( € 0.95).

61

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement LIABILITIE S 32. BANK LOANS AND BORR OWINGS "Bank loans and borrowings" are analyzed as follows:

Payable within one

year

Payable in 1-5

years

Payable in more than

five

years

30/06/2026

Payable within

one

year

Payable in 1-5

years

Payable in more than

five

years

31/12/2025

Overdrafts

4,512

-

-

4,512

264

-

-

264

Current

bank

loans

and

borrowings

-

-

-

-

-

-

-

-

Long-

term

loans

(short

term

portion)

156,860

-

-

156,860

35,613

-

-

35,613

Bank loans and borrowings

(short-term

portion)

161,372

-

-

161,372

35,877

-

-

35,877

Long-

term

loans

-

40,843

-

40,843

-

191,166

-

191,166

Total

banks

loans

and

borrowings

161,372

40,843

-

202,215

35,877

191,166

-

227,043

No new loans were taken out in the first half of 2026.

In relation to the financing agreements in place at the Parent Company (already described in the

Annual

Financial

Reports

of

previous

years),

it

is

noted

that

all

financial

covenants

provided

for

in

said

contracts,

based

on

the

ratio

of

the

net

financial

position

to

shareholders'

equity

and

adjusted

EBITDA,

were

met

at

30

June

2026.

All principal bank borrowings are at a variable rate; for a portion of some existing medium/long-term

loans,

a

hedging

derivative

has

been

negotiated

to

convert

the

financing

from

a

variable

to

a

fixed

rate.

The

fair

value

of

the

loans,

obtained

by

discounting

the

expected

future

interest

cash

flow

at

current

market

rates,

does

not

reasonably

differ

significantly

from

the

carrying

amount

of

the

debt

recorded

in

the

financial

statements.

62

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 33. OTHER FINANCIAL PAYABLE S This balance, inclusive of the current portion, is made up as follows:

30/06/2026

31/12/2025

Private

placement

(short-term

portion)

21,414

21,415

Negative

fair

value

of

derivatives

17,625

4,312

Other

short

term

financial

payables

22,033

14,691

Total

short-term

payables

61,072

40,418

Private

placement

(one

to

five

years)

13,632

21,399

Other

financial

payables

(one

to

five

years)

2,295

-

Total

long-term

payables

(one

to

five

years)

15,927

21,399

Private

placement

(beyond

five

years)

136,681

150,363

Total

long-term

payables

(beyond

five

years)

136,681

150,363

Total

other

financial

payables

213,680

212,180

The bond loan refers to the issue and placement of unsecured, non-convertible notes with US

institutional

investors

(the

“US

Private

Placement”),

completed

in

2017

for

a

value

of

€ 150

million

and

in

2021

for

an

additional

€ 150

million.

In both instances the securities were issued by De' Longhi S.p.A. in a single tranche. In relation to the first issue, the notes have a 10-year maturity, maturing in June 2027, and an average

life

of

7

years.

The

notes

accrue

interest

from

the

subscription

date

at

a

fixed

rate

of

1.65%

per

annum.

The

repayment

of

the

loan

takes

place

yearly

in

equal

instalments

in

terms

of

principal,

the

first

of

which

was

paid

in

June

2021

and

the

last

expected

to

be

paid

in

June

2027,

without

prejudice

to

the

Company’s

ability

to

repay

the

entire

amount

in

advance.

In relation to the second issue, the notes have a 20-year duration, with maturity in April 2041, and an

average

life

of

15

years.

The

notes

accrue

interest

from

the

subscription

date

at

a

fixed

rate

of

1.18%

per

annum.

The

repayment

of

the

loan

takes

place

yearly

in

equal

instalments

in

terms

of

principal,

the

first

of

which

will

be

due

in

April

2031

and

the

last

in

April

2041,

without

prejudice

to

the

Company’s

ability

to

repay

the

entire

amount

in

advance.

The issues in both cases are unrated and are not intended to be listed on regulated markets. Both issues are subject to half-yearly verification of financial parameters (financial covenants),

consistent

with

those

already

envisaged

in

other

loan

transactions

in

place.

These

parameters

were

met

on

30

June

2026.

Neither

issue

is

secured

by

real

or

personal

guarantees.

The negative fair value of derivatives refers to forward contracts hedging currency risk, on both

foreign

currency

receivables

and

payables

and

on

future

trade

flows

(anticipatory

hedges).

63

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement "Other short term financial payables" refers mainly to relationships arising from non-recourse

factoring

operations

and

to

the

dividends

resolved

by

the

Shareholders'

Meeting

of

De'

Longhi

S.p.A.

on

23

April

2026

and

not

yet

paid.

The item "Other financial payables (one to five years)" refers to the variable consideration connected to

the

acquisition

of

the

Dutch

subsidiary

of

the

Eversys

group.

Net financial position Details of the net financial position are as follows:

30/06/2026

31/12/2025

A.

Cash

877,789

998,448

B.

Cash

equivalents

-

-

C.

Other

current

financial

assets

230,180

238,052

of

which

lease

prepayments

150

394

D.

Cash,

cash

equivalents

and

other

current

financial

assets

(A

+

B

+

C)

1,107,969

1,236,500

E.

Current

financial

liabilities

(71,084)

(63,109)

of

which

lease

liabilities

(23,125)

(26,739)

F.

Current

portion

of

non-current

financial

liabilities

(156,860)

(35,613)

G.

Current

financial

liabilities

(E

+

F)

(227,944)

(98,722)

H.

Current

net

financial

liabilities

(D

+

G)

880,025

1,137,778

I.1.

Other

non-current

financial

assets

50,903

60,343

I.

Non-current

financial

liabilities

(108,971)

(258,797)

of

which

lease

liabilities

(68,128)

(67,631)

J.

Debt

instruments

(150,313)

(171,762)

K.

Trade

payables

and

other

non-current

liabilities

-

-

L.

Non-current

net

financial

liabilities

(I

+

I.1+

J

+

K)

(208,381)

(370,216)

M.

Total

financial

liabilities

(H

+

L)

671,644

767,562

Fair

value

of

derivatives

and

other

financial

non-bank

assets/liabilities

14,978

2,431

Total

net

financial

position

686,622

769,993

Details of the net financial position are shown in accordance with CONSOB Bulletin DEM/6064293 of 28.07.2006. In order to provide a

better

representation,

"Other

non-current

financial

assets"

are

indicated

separately

in

letter

I.1;

for

further

information,

see

note

18.

For a better understanding of changes in the Group's net financial position, reference should be made to

the

consolidated

statement

of

cash

flows,

appended

to

these

explanatory

notes,

and

the

summary

statement

presented

in

the

report

on

operations.

64

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The fair value of the outstanding derivatives at 30 June 2026 is provided below:

Fair

Value

at

30.06.2026

FX

forward

agreements

14,616

Derivatives

hedging

foreign

currency

receivables/payables

14,616

FX

forward

agreements

2,657

Derivatives

covering

expected

cash

flows

2,657

Total

fair

value

of

the

derivatives

17,273

34. EMPL OYEE BENEFIT S These are made up as follows:

30/06/2026

31/12/2025

Provision

for

severance

indemnities

11,890

12,216

Defined

benefit

plans

21,303

20,537

Other

long

term

benefits

32,969

26,889

Total

66,162

59,642

The provision for severance indemnities includes amounts payable to employees of the Group's

Italian

companies

and

not

transferred

to

supplementary

pension

schemes

or

the

pension

fund

set

up

by

INPS.

This

provision

has

been

classified

as

a

defined

benefit

plan

governed

as

such

by

IAS

19

-

Employee

benefits

.

Some of the Group's foreign companies also provide defined benefit plans for their employees. Some of these plans have assets servicing them, while severance indemnities, as an unfunded

obligation,

do

not

have

assets

servicing

them.

These plans are valued on an actuarial basis to express the present value of the benefit payable at the end

of

service

that

employees

have

accrued

at

the

reporting

date.

65

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The amounts of the obligations and assets to which they refer are set out below: Provision for severance indemnities: Movements in the period are summarized below:

Net

cost

charged

to

income

1st

Half

2026

Current

service

cost

863

Interest

cost

on

obligations

124

Total

987

Change

in

present

value

of

obligations

30/06/2026

Present

value

at

1

January

12,216

Current

service

cost

863

Utilization

of

provision

(1,567)

Interest

cost

on

obligation

124

Translation

differences

-

Actuarial

gains

&

losses

recognized

in

the

comprehensive

income

statement

254

Present

value

at

reporting

date

11,890

Defined benefit plans: Movements in the period are as follows:

Net

cost

charged

to

income

1st

Half

2026

Current

service

cost

1,287

Interest

cost

on

obligations

324

Total

1,611

Change

in

present

value

of

obligations

30/06/2026

Present

value

at

1

January

20,537

Net

cost

charged

to

income

1,611

Benefits

paid

(898)

Translation

differences

53

Actuarial

gains

&

losses

recognized

in

the

comprehensive

income

statement

-

Present

value

at

reporting

date

21,303

The

outstanding

liability

at

30

June

2026

of

€

21,303

thousand

( €

20,537

thousand

at

31

December

2025)

refers

to

a

few

subsidiaries

(mainly

in

Germany,

Switzerland

and

Japan).

66

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement The amount related to "Other long-term benefits" includes the incentive plans (Phantom Stock Plan) for

the

Professional

division

and

the

remuneration

for

certain

long-term

incentive

plans

for

which

the

relevant

accrual

has

been

made

for

the

period.

These

plans

were

approved

by

the

Board

of

Directors

for

a

limited

number

of

key

Group

resources.

For

further

information,

please

refer

to

the

Annual

report

on

the

2026

remuneration

policy

and

2025

compensation

paid

.

35. OTHER PROVISIONS FOR NON-CURRENT CONTINGENCIE S AND CHAR GES These are analyzed as follows:

30/06/2026

31/12/2025

Agents’

leaving

indemnity

provision

1,975

1,950

Product

warranty

provision

51,550

51,632

Provision

for

contingencies

and

other

charges

24,733

25,976

Total

78,258

79,558

Movements are as follows:

31/12/2025

Utilization of

provision

Net

accrual

Translation differences and other

movements

30/06/2026

Agents’

leaving

indemnity

provision

1,950

(16)

41

-

1,975

Product

warranty

provision

51,632

(12,223)

11,193

948

51,550

Provision

for

contingencies

and

other

charges

25,976

(1,891)

1,796

(1,148)

24,733

Total

79,558

(14,130)

13,030

(200)

78,258

The agents’ leaving indemnity provision covers the provisions made for potential risks related to the

payment

of

leaving

indemnities

which

might

be

due

to

departing

agents

in

accordance

with

art.

1751

of

the

Italian

Civil

Code,

as

applied

by

collective

compensation

agreements

in

force.

The product warranty provision has been established for certain consolidated companies, on the

basis

of

estimated

under-warranty

repair

costs

for

sales

taking

place

by

30

June

2026.

It

takes

account

of

the

provisions

of

Legislative

Decree

24/2002,

European

Community

law

and/or

other

local

regulations,

where

applicable.

The "Provision for contingencies and other charges" includes the provision for liabilities that could

arise

following

legal

disputes

and

product

complaint

liabilities

(limited

to

the

Group’s

insurance

deductible)

for

€

12,432

thousand

( €

12,547

thousand

at

31

December

2025),

and

€

12,301

thousand

( €

13,429

thousand

at

31

December

2025)

for

the

provisions

made

by

a

few

subsidiaries

relating

to

commercial

risks

and

other

obligations.

67

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 36. TRADE PAYABLE S The balance represents the amount owed by the Group to third parties for the provision of goods and services.

The

item

does

not

include

amounts

due

beyond

12

months.

37. CURRENT TAX LIABILITIE S “Current tax liabilities” refers to the Group’s direct tax payable to the tax authorities and, with respect to

the

Italian

subsidiaries

who

adhered

to

the

Domestic

Tax

Consolidation

regime,

includes

the

net

amount

owed

to

the

parent

company,

DLI

S.A..

The Parent Company De’ Longhi S.p.A. and a few Italian subsidiaries renewed, jointly with the

consolidator

DLI

S.A.,

the

option

for

the

group

taxation

regime

referred

to

as

“Domestic

Tax

Consolidation”,

as

permitted

under

articles

117

through

129

of

the

Consolidated

Income

Tax

Act

as

per

Presidential

Decree

n.

917

of

22

December

1986

and

Decree

of

the

Ministry

of

Economy

and

Finance

of

1

March

2018,

for

the

three-year

period

2025

-

2027.

For additional information please refer to Appendix 3. 38. OTHER PAYABLE S These are analyzed as follows:

30/06/2026

31/12/2025

Employees

71,731

113,540

Indirect

taxes

28,334

37,375

Advances

26,609

17,548

Social

security

institutions

8,685

11,386

Withholdings

payables

3,999

7,901

Other

taxes

2,909

5,069

Other

36,698

25,543

Total

178,965

218,362

At 30 June 2026 there are no relevant amounts due beyond 12 months.

68

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 39. COMMITMENT S These are detailed as follows:

30/06/2026

31/12/2025

Guarantees

given

to

third

parties

665

655

Other

commitments

1,736

2,102

Total

2,401

2,757

"Other commitments" mainly consist of contractual obligations pertaining to a few subsidiaries. 40. HIERAR CHICAL LEVELS OF FINANCIAL INSTRUMENT S MEASURED AT FAIR VALUE The following table presents the hierarchical levels in which the fair value measurements of financial

instruments

outstanding

at

30

June

2026

have

been

classified.

As

required

by

IFRS

13,

the

hierarchy

comprises

the

following

levels:

-

level

1:

quoted

prices

in

active

markets

for

identical

assets

or

liabilities;

-

level

2:

inputs

other

than

quoted

prices

included

within

Level

1

that

are

observable

for

the

asset

or

liability,

either

directly

or

indirectly;

-

level

3:

inputs

for

the

asset

or

liability

that

are

not

based

on

observable

market

data.

Financial

instruments

measured

at

fair

value

Level

1

Level

2

Level

3

Derivatives

with

positive

fair

value

34,898

Derivatives

with

negative

fair

value

17,625

Other

financial

assets

54

53,646

There were no transfers between the levels during the period. 41. TAX POSITION Regarding the tax position, no significant outstanding matters are reported at the date of this report.

69

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 42. TRANS ACTIONS AND BALANCE S WITH RELA TED PARTIES Appendix 3 contains the information required by CONSOB Circulars 97001574 dated 20 February

1997,

98015375

dated

27

February

1998

and

DEM/2064231

dated

30

September

2002

relating

to

related

party

transactions;

it

should

be

noted

that

all

transactions

put

in

place

fell

within

the

Group’s

normal

scope

of

operations

and

were

settled

under

arm’s-length

terms

and

conditions.

The effects deriving from transactions and balances between the parent company and subsidiaries are

not

reported

since

these

have

been

eliminated

upon

preparation

of

the

consolidated

financial

statements.

43. OPERA TING SEGMENT S As a result of the Eversys/La Marzocco business combination, the Group’s organizational structure and

governance

were

changed

due

to

the

identification

of

two

new

operating

segments

which

correspond

to

the

definition

of

IFRS

8.

These

are

the

Household

and

Professional

divisions,

each

of

which

generate

revenues

and

costs

(including

the

revenues

and

costs

relating

to

transactions

with

other

Group

entities)

and

whose

operating

results

are

periodically

reviewed

by

the

highest

decision-making

level.

The

Group’s

activities

have

been

divided

between

the

two

divisions

based

on

their

relevancy.

Information relating to operating segments is presented below: Income Statement data 1st

Half

2026

HOUSEHOLD

PROFESSIONAL

Intersegment

eliminations

(**)

Total

Total

revenues

(*)

1,379,781

302,844

(6,287)

1,676,338

EBITDA

adjusted

(***)

186,847

96,892

(71)

283,668

EBIT

217,581

Net

financial

income

(expenses)

5,943

Profit

(loss)

before

taxes

223,524

Taxes

(54,557)

Profit

(loss)

for

the

year

168,967

Profit

(loss)

pertaining

to

minority

27,600

Profit

(loss)

pertaining

to

Group

141,367

70

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 1st

Half

2025

HOUSEHOLD

PROFESSIONAL

Intersegment

eliminations

(**)

Total

Total

revenues

(*)

1,364,006

222,193

(1,985)

1,584,214

EBITDA

adjusted

(***)

182,070

58,639

(6)

240,703

EBIT

167,862

Net

financial

income

(expenses)

1,617

Profit

(loss)

before

taxes

169,479

Taxes

(40,075)

Profit

(loss)

for

the

year

129,404

Profit

(loss)

pertaining

to

minority

12,792

Profit

(loss)

pertaining

to

Group

116,612

(*) The revenues for each segment include revenues generated by both third parties and other Group operating segments. (**) Eliminations refer to intersegment transactions generated and eliminated on a consolidated basis. (***) The “EBITDA adjusted” is calculated excluding non-recurring items and cost related to share-based incentive plans, consistently with

values

presented

in

the

report

on

operations,

to

which

refer

for

further

information.

Data from statement of financial position 30

June

2026

HOUSEHOLD

PROFESSIONAL

Intersegment

eliminations

(**)

Total

Total

assets

3,273,908

1,103,449

(167,769)

4,209,588

Total

liabilities

(1,845,128)

(248,772)

167,780

(1,926,120)

31

December

2025

HOUSEHOLD

PROFESSIONAL

Intersegment

eliminations

(**)

Total

Total

assets

3,283,775

1,031,371

(154,638)

4,160,508

Total

liabilities

(1,831,782)

(259,112)

154,638

(1,936,256)

(**) Eliminations refer to intersegment transactions generated between operating segments and eliminated on a consolidated basis. 44. RISK MANA GEMENT The Group is exposed to financial risks in connection with its normal business activity: credit risk,

liquidity

risk,

market

risks

(relating

primarily

to

currency

and

interest

rates).

This condensed half-year financial report does not contain all the information and explanatory notes

relative

to

financial

risk

management

required

in

the

preparation

of

the

annual

report.

For

a

detailed

description

of

this

information

for

the

Group,

reference

is

made

to

what

is

described

in

the

Explanatory

Notes

to

the

Consolidated

financial

statements

at

31

December

2025.

71

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement 45. SUBSE QUENT EVENT S Subsequent to 30 June 2026 through the approval date of this financial document, no event has

occurred

that

could

cause

material

consequences

on

the

financial

and

economic

results

represented,

as

determined

by

IAS

10

-

Events

after

the

reporting

period.

Treviso, 30 July 2026 De’ Longhi S.p.A. Chairman and Chief Executive Officer Fabio de’ Longhi 72

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDICES These appendices contain additional information to that reported in the explanatory notes, of which

they

form

an

integral

part.

This information is contained in the following appendices: 1. List of consolidated companies 2. Statement of consolidated cash flows in terms of net financial position 3. Transactions and balances with related parties: a) Income statement and statement of financial position b) Summary by company 4. Certification of the consolidated financial statements pursuant to art. 81-ter of CONSOB

Regulation

11971

dated

14

May

1999

and

subsequent

amendments

and

additions

73

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 1 List of consolida ted companies The list of the companies consolidated according to the line-by-line method is provided below:

Company name Registered office Currency Share capital (1)

Interest

held

at

30/06/2026

Directly

Indirectly

DE’LONGHI

APPLIANCES

S.R.L.

Treviso

EUR

200,000,000

100.0%

DE’LONGHI

AMERICA

INC.

Upper

Saddle

River

USD

600,000

100.0%

DE’LONGHI

FRANCE

SAS

Clichy

EUR

2,737,500

100.0%

DE’LONGHI

CANADA

INC.

Brampton

CAD

1

100.0%

DE’LONGHI

DEUTSCHLAND

GMBH

Neu-Isenburg

EUR

2,100,000

100.0%

DE’LONGHI

BRAUN

HOUSEHOLD

GMBH

Neu-Isenburg

EUR

100,000

100.0%

DE’LONGHI

ELECTRODOMESTICOS

ESPANA

S.L.

Barcelona

EUR

3,066

100.0%

DE’LONGHI

CAPITAL

SERVICES

S.R.L.

(2)

Treviso

EUR

53,000,000

11.3%

88.7%

E-

SERVICES

S.R.L.

Treviso

EUR

50,000

100.0%

DE’LONGHI

KENWOOD

A.P.A.

LTD

Hong

Kong

HKD

73,010,000

100.0%

TRICOM

INDUSTRIAL

COMPANY

LIMITED

Hong

Kong

HKD

171,500,000

100.0%

PROMISED

SUCCESS

LIMITED

Hong

Kong

HKD

28,000,000

100.0%

ON

SHIU

(ZHONGSHAN)

ELECTRICAL

APPLIANCE

CO.LTD.

Zhongshan

City

CNY

USD

21.200.000

100.0%

DE’LONGHI-KENWOOD

APPLIANCES

(DONG

GUAN)

CO.LTD.

Qing

Xi

Town

CNY

HKD

285.000.000

100.0%

DE

LONGHI

BENELUX

S.A.

Luxembourg

EUR

101,342,720

100.0%

DE’LONGHI

JAPAN

CORPORATION

Tokyo

JPY

450,000,000

100.0%

DE’LONGHI

AUSTRALIA

PTY

LTD.

Prestons

AUD

28,800,001

100.0%

DE’LONGHI

NEW

ZEALAND

LTD.

(3)

Auckland

NZD

16,007,143

100.0%

DE’LONGHI

LLC

Moscow

RUB

3,944,820,000

100.0%

KENWOOD

APPLIANCES

LTD.

Havant

GBP

30,586,001

100.0%

KENWOOD

LIMITED

Havant

GBP

26,550,000

100.0%

KENWOOD

INTERNATIONAL

LTD.

Havant

GBP

20,000,000

100.0%

KENWOOD

APPL.

(SINGAPORE)

PTE

LTD.

Singapore

SGD

500,000

100.0%

KENWOOD

APPL.

(MALAYSIA)

SDN.BHD.

Subang

Jaya

MYR

1,000,000

100.0%

DE’LONGHI-KENWOOD

GMBH

Wr

Neudorf

EUR

36,336

100.0%

DELONGHI

SOUTH

AFRICA

PTY.LTD.

Constantia

Kloof

ZAR

100,332,500

100.0%

DE’LONGHI

KENWOOD

HELLAS

SINGLE

MEMBER

S.A.

Athens

EUR

452,520

100.0%

DE’LONGHI

PORTUGAL

UNIPESSOAL

LDA

Matosinhos

EUR

5,000

100.0%

ARIETE

DEUTSCHLAND

GMBH

Dusseldorf

EUR

25,000

100.0%

CLIM.RE.

S.A.

Luxembourg

EUR

1,239,468

4.0%

96.0%

ELLE

S.R.L.

Treviso

EUR

10,000

100.0%

TASFIYE HALINDE DE’LONGHI BOSPHORUS EV ALETLERI

TICARET

ANONIM

SIRKETI

Istanbul

TRY

3,500,000

100.0%

DE’LONGHI

PRAGA

S.R.O.

Prague

CZK

200,000

100.0%

DE'LONGHI

SWITZERLAND

AG

Baar

CHF

1,000,000

100.0%

DE'LONGHI

HRVATSKA

D.O.O.

Zagreb

EUR

2,650

100.0%

DE’LONGHI

BRASIL

-

COMÉRCIO

E

IMPORTAÇÃO

Ltda

São

Paulo

BRL

44,457,581

100.0%

DE’LONGHI

POLSKA

SP.

Z.O.O.

Warsaw

PLN

50,000

0.1%

99.9%

DE’LONGHI APPLIANCES TECHNOLOGY SERVICES (Shenzen)

Co.

Ltd

Shenzen

CNY

USD

175.000

100.0%

DE’LONGHI

UKRAINE

LLC

Kiev

UAH

549,843

100.0%

DE’LONGHI

KENWOOD

MEIA

F.ZE

Dubai

USD

AED

2.000.000

100.0%

DE’LONGHI

ROMANIA

S.R.L.

Cluj-Napoca

RON

140,000,000

10.0%

90.0%

DE'LONGHI

KOREA

LTD

Seoul

KRW

900,000,000

100.0%

74

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement DL

CHILE

S.A.

Santiago

del

Cile

CLP

3,079,065,844

100.0%

DE’LONGHI

SCANDINAVIA

AB

Stockholm

SEK

5,000,000

100.0%

DELONGHI

MEXICO

SA

DE

CV

Bosques

de

las

Lomas

MXN

53,076,000

100.0%

DE’LONGHI

APPLIANCES

(SHANGHAI)

CO.

LTD

Shanghai

CNY

USD

14.245.000

100.0%

DE'

LONGHI

MAGYARORSZÁG

KFT.

Budapest

HUF

34,615,000

100.0%

DE'

LONGHI

US

HOLDING

LLC

Wilmington

USD

50,100,000

100.0%

DE

LONGHI

LLP

Almaty

KZT

500,000

100.0%

DE

LONGHI

BENELUX

II

S.àr.l.

Luxembourg

CHF

76,272,000100.0%

LA

MARZOCCO,

EVERSYS

&

CO

S.àr.l.

Luxembourg

EUR

112,979,231

69.9%

DE'

LONGHI

PROFESSIONAL

S.R.L.

Milan

EUR

100,000

69.9%

I

DUE

LEONI

S.R.L.

Milan

EUR

10,000

69.9%

THE

TWO

LIONS

INDUSTRIES

CORP.

Dover

USD

10,000

69.9%

LA

MARZOCCO,

EVERSYS

&

CO.

INTERNATIONAL

HoldCo

LLC

Wilmington

USD

1,053,462,938

61.5%

LA

MARZOCCO,

EVERSYS

&

CO.

US

HoldCo

LLC

Wilmington

USD

332,672,505

61.5%

EVERSYS

S.A.

Sierre

CHF

2,500,000

61.5%

EVERSYS

INC

Toronto

USD

77

61.5%

EVERSYS

INC

DELAWARE

Wilmington

USD

200,000

61.5%

EVERSYS

UK

LIMITED

Crawley

GBP

70,000

61.5%

EVERSYS

IRELAND

LIMITED

Dublin

EUR

100

61.5%

EVERSYS

DIGITRONICS

AG

Münsingen

CHF

100,000

61.5%

COFFEE

CAPITAL

B .

V.

The

Hague

EUR

18,000

61.5%

EVERSYS NEDERLAND B.V. The Hague EUR 90,000 61.5%

EverRENT

B.V.

The

Hague

EUR

100

61.5%

LA

MARZOCCO

SRL

Florence

EUR

52,000

59.1%

LA

MARZOCCO

INTERNATIONAL

LLC

Seattle

USD

68,273,529

61.5%

LMI

BUILDING,

LLC

Seattle

USD

-

61.5%

LA

MARZOCCO

USA

LLC

Seattle

USD

-

61.5%

LA

MARZOCCO

AUSTRALASIA

LIMITED

Auckland

NZD

-

61.5%

LA

MARZOCCO

AUSTRALASIA

PTY

LTD

Abbotsford

AUD

993,015

61.5%

LA

MARZOCCO

UK

LIMITED

London

GBP

100

61.5%

LA

MARZOCCO

SPAIN

SL

Barcelona

EUR

10,000

61.5%

LA

MARZOCCO

DEUTSCHLAND

GMBH

Markgröningen

EUR

25,000

61.5%

LA

MARZOCCO

SHANGHAI

CO.

LTD

Shanghai

CNY

6,566,792

31.4%

ELECTRO

SYSTEM

SRL

Florence

EUR

60,000

30.1%

BREWTECH

PTY

LTD

Kensington

AUD

100

36.9%

LA

MARZOCCO

MIDDLE

EAST

FZCO

Dubai

AED

50,000

59.1%

LA

MARZOCCO

SEA

PTE

LTD

Singapore

EUR

-

61.5%

LA

MARZOCCO

FRANCE

SAS

Paris

EUR

10,000

59.1%

LA

MARZOCCO

EQUIPMENT

TRADING

L.L.C.

Dubai

AED

200,000

59.1%

LA

MARZOCCO

(THAILAND)

CO.

LTD.

Bangkok

THB

9,000,300

61.5%

CAPITAL

BRANDS

HOLDINGS,

INC.

Wilmington

USD

44

100.0%

CAPITAL

BAY,

LIMITED

(3)

Hong

Kong

USD

-

100.0%

CAPBRAN

HOLDINGS,

LLC

Los

Angeles

USD

-

100.0%

CAPITAL

BRANDS,

LLC

Los

Angeles

USD

-

100.0%

CAPITAL

BRANDS

DISTRIBUTION,

LLC

Los

Angeles

USD

-

100.0%

BULLET

BRANDS,

LLC

Los

Angeles

USD

-

100.0%

HOMELAND

HOUSEWARES,

LLC

Los

Angeles

USD

-

100.0%

BABY

BULLET,

LLC

Los

Angeles

USD

-

100.0%

NUTRIBULLET,

LLC

Los

Angeles

USD

-

100.0%

NUTRILIVING,

LLC

Los

Angeles

USD

-

100.0%

75

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement

INVESTMENTS VALUED IN ACCORDANCE WITH THE EQUITY METHOD

Company name Registered office Currency Share capital (1)

Interest

held

at

30/06/2026

Directly

Indirectly

DL-TCL

HOLDINGS

(HK)

LTD.

Hong

Kong

HKD

USD

5.000.000

50%

TCL-DE’LONGHI

HOME

APPLIANCES

(ZHONGSHAN)

CO.LTD.

Zhongshan

City

CNY

USD

5.000.000

50%

TCL-DE’LONGHI

ELECTRICAL

APPLIANCES

HK

CO.

LTD.

Hong

Kong

HKD

USD

300.000

50%

NPE

S.R.L.

Treviso

EUR

1,000,000

20%

H&T-NPE

EAST

EUROPE

S.R.L.

Madaras

RON

14,707,600

20%

SONGWA

ESTATE

GMBH

Emmerich

EUR

45,000

20%

(1) Figures at 30 June 2026, unless otherwise specified. (2) The articles of association, approved by the extraordinary shareholders' meeting held on 29 December 2004, give special rights to

De'Longhi

S.p.A.

(holding

89%

of

the

voting

rights)

for

ordinary

resolutions

(approval

of

financial

statements,

declaration

of

dividends,

nomination

of

directors

and

statutory

auditors,

purchase

and

sale

of

companies,

grant

of

loans

to

third

parties);

voting

rights

are

proportional

as

far

as

other

resolutions

are

concerned,

except

for

the

preferential

right

to

receive

dividends

held

by

the

shareholder

Kenwood

Appliances

Ltd.

(3) Dormant.

76

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 2 Statemen t of consolida ted cash flows in terms of net financial position

( €

/000)

1st

Half

2026

1st

Half

2025

Net

Result

168,967

129,404

Income

taxes

for

the

period

54,557

40,075

Amortization

62,192

64,611

Net

change

in

provisions

and

other

non-cash

items

8,555

7,614

Cash

flow

generated

by

current

operations

(A)

294,271

241,704

Change

in

assets

and

liabilities

for

the

period:

Trade

receivables

115,409

121,315

Inventories

(217,400)

(221,086)

Trade

payables

35,701

(15,141)

Other

changes

in

net

working

capital

(62,820)

(14,089)

Payment

of

income

taxes

(56,213)

(58,714)

Cash

flow

absorbed

by

movements

in

working

capital

(B)

(185,323)

(187,715)

Cash

flow

generated

by

current

operations

and

movements

in

working

capital

(A+B)

108,948

53,989

Investment

activities:

Investments

in

intangible

assets

(9,074)

(18,645)

Other

cash

flows

for

intangible

assets

93 -

Investments

in

property,

plant

and

equipment

(28,204)

(23,995)

Other

cash

flows

for

property,

plant

and

equipment

1,002

414

Investments

in

leased

assets

(13,811)

(1,954)

Other

cash

flows

for

leased

assets

3,848

121

Net

investments

in

financial

assets

and

in

minority

interest

753

1,234

Cash

flow

absorbed

by

ordinary

investment

activities

(C)

(45,393)

(42,825)

Cash

flow

by

operating

activities

(A+B+C)

63,555

11,164

Business

combinations

(D)

(5,350)

-

Fair

value

and

cash

flow

reserves

1,286

(5,748)

Change

in

currency

translation

reserve

13,236

(53,662)

Purchase

of

treasury

shares

(28,499)

(60,586)

Exercise

of

stock

option

255

2,454

Dividends

paid

(126,828)

(186,715)

Dividends

paid

to

minority

interests

(1,026)

(4,362)

Cash

flow

absorbed

by

changes

in

net

equity

(E)

(141,576)

(308,619)

Cash

flow

for

the

period

(A+B+C+D+E)

(83,371)

(297,455)

Opening

net

financial

position

769,993

643,235

Cash

flow

for

the

period

(A+B+C+D+E)

(83,371)

(297,455)

Consolidated

closing

net

financial

position

686,622

345,780

77

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 3 Transactions and balances with related parties ( €

/000)

1st

Half

2026

of which related

parties

1st

Half

2025

of which related

parties

Revenue

from

sales

1,646,687 641,557,403 140

Other

revenues

29,651 49626,811 273

Total

consolidated

revenues

1,676,338 1,584,214

Raw

and

ancillary

materials,

consumables

and

goods

(849,666) (21,145)(813,072) (15,437) Change in inventories of finished products and work in

progress

185,514 199,184 Change in inventories of raw and ancillary materials,

consumables

and

goods

32,733 17,334

Materials

consumed

(631,419) (596,554)

Payroll

costs

(255,825) (263,496)

Services

and

other

operating

expenses

(495,672) (518)(479,296) (328)

Provisions

(13,649) (12,395)

Amortization

(62,192) (64,611)

EBIT

217,581 167,862

Net

financial

income

(expenses)

5,943 (89)1,617 (113)

PROFIT

(LOSS)

BEFORE

TAXES

223,524 169,479

Taxes

(54,557) (40,075)

CONSOLIDATED

PROFIT

(LOSS)

168,967 129,404

Profit

(loss)

pertaining

to

minority

27,600 12,792

CONSOLIDATED

PROFIT

(LOSS)

AFTER

TAXES

141,367 116,612

78

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 3 Transactions and balances with related parties

ASSETS

( €

/000)

30/06/2026of which related

parties

31/12/2025

of which related

parties

NON-CURRENT

ASSETS

INTANGIBLE

ASSETS

1,242,062

1,223,798

-

Goodwill

651,870

636,623

-

Other

intangible

assets

590,192

587,175

PROPERTY,

PLANT

AND

EQUIPMENT

517,977

523,070

-

Land,

property,

plant

and

machinery

309,791

314,614

-

Other

tangible

assets

118,339

116,526

-

Right

of

use

assets

89,847

91,930

EQUITY

INVESTMENTS

AND

OTHER

FINANCIAL

ASSETS

63,007

70,964

-

Equity

investments

6,925

5,622

-

Receivables

5,687

4,999

-

Other

non-current

financial

assets

50,395

60,343

DEFERRED

TAX

ASSETS

84,089

83,601

TOTAL

NON-CURRENT

ASSETS

1,907,135

1,901,433

CURRENT

ASSETS

INVENTORIES

837,791 605,950

TRADE

RECEIVABLES

239,071279 351,569 723

CURRENT

TAX

ASSETS

16,394 9,011

OTHER

RECEIVABLES

66,3303,541 49,302 2

CURRENT

FINANCIAL

RECEIVABLES

AND

ASSETS

265,078 244,795

CASH

AND

CASH

EQUIVALENTS

877,789 998,448

TOTAL

CURRENT

ASSETS

2,302,453

2,259,075

TOTAL

ASSETS

4,209,588

4,160,508

79

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 3 Transactions and balances with related parties

NET EQUITY AND LIABILITIES

( €

/000)

30/06/2026

of which related parties

31/12/2025

of which related parties NET

EQUITY

GROUP

PORTION

OF

NET

EQUITY

2,055,820

2,026,451

-

Share

Capital

226,942

226,942

-

Reserves

1,687,511

1,483,184

-

Profit

(loss)

pertaining

to

the

Group

141,367

316,325

MINORITY

INTEREST

227,648

197,801

TOTAL

NET

EQUITY

2,283,468

2,224,252

NON-CURRENT

LIABILITIES

FINANCIAL

PAYABLES

261,579

430,559

-

Banks

loans

and

borrowings

(long-term

portion)

40,843

191,166

-

Other

financial

payables

(long-term

portion)

152,608

171,762

-

Lease

liabilities

(long-term

portion)

68,1288,605

67,631

10,734

DEFERRED

TAX

LIABILITIES

100,655

98,260

NON-CURRENT PROVISIONS FOR CONTINGENCIES AND

OTHER

CHARGES

144,420

139,200

-

Employee

benefits

66,162

59,642

-

Other

provisions

78,258

79,558

TOTAL

NON-CURRENT

LIABILITIES

506,654

668,019

CURRENT

LIABILITIES

TRADE

PAYABLES

903,96318,669

856,693

12,746

FINANCIAL

PAYABLES

245,569

103,034

-

Banks

loans

and

borrowings

(short-term

portion)

161,372

35,877

-

Other

financial

payables

(short-term

portion)

61,072

40,418

-

Lease

liabilities

(short-term

portion)

23,1254,387

26,739

4,392

CURRENT

TAX

LIABILITIES

90,96956,032

90,148

59,697

OTHER

PAYABLES

178,965

218,362

TOTAL

CURRENT

LIABILITIES

1,419,466

1,268,237

TOTAL

NET

EQUITY

AND

LIABILITIES

4,209,588

4,160,508

80

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 3 Transactions and balances with related parties Summary by company In compliance with the guidelines and methods for identifying significant transactions, especially

those

with

related

parties

covered

by

the

De'

Longhi

S.p.A.

rules

on

corporate

governance,

we

shall

now

present

the

following

information

concerning

related

party

transactions

during

2026

and

related

balances

with

mainly

commercial

nature

at

30

June

2026:

( €

/million)

RevenuesCosts Financial Income (Expense) Trade andotherreceivablesTrade and other payables Financial payables - IFRS 16

Related companies: TCL-DE'LONGHI HOME APPL. (ZHONGSHAN) CO.LTD -(6.3) - -6.4 -

HeT-NPE EAST EUROPE SRL -(1.7) - -1.8 -

NPE SRL S.r.l. 0.1(13.3) - 0.210.5 -

GAMMA SRL 0.5(0.4) (0.1) -- 13.0

DLI S.A. -- - 3.656.0 -

Other related parties -- - -- -

TOTAL RELATED PARTIES 0.6(21.7) (0.1) 3.874.7 13.0

Following the application of IFRS 16 Leases, payables owed to Gamma S.r.l., along with the relative right-of-use assets, stemming from the

leases

for

two

locations

in

Italy

were

recognized;

interest

expenses

owed

for

the

period

was

also

recognized.

The Parent Company De’ Longhi S.p.A. and a few Italian subsidiaries adhered to the national tax consolidation regime (Presidential Decree N.

917/1986

–

“TUIR”-

articles

117

through

129,

and

Decree

of

1st

March

2018),

as

part

of

a

tax

group

formed

by

DLI

S.A..

The

€

56,0

million

included

in

tax

payables

is

comprised

of

the

taxes

payable

by

the

members

of

the

tax

group

through

DLI

S.A..

Please, refer to the yearly Annual report on the 2026 remuneration policy and 2025 compensation paid for information relating to the compensation of directors and statutory auditors 81

De’ Longhi S.p.A. Interim financial report at 30 June 2026 03 Consolidated financial statement APPENDIX 4 Certific ation of the consolida ted financial statemen ts pursuan t to art. 81-ter of CONSOB

Regula tion

11971

dated

14

May

1999

and

subsequen t

amendmen ts

and

additions

The undersigned Fabio de’ Longhi, Chief Executive Officer, and Stefano Biella, as Officer Responsible for

Preparing

the

Company’s

Financial

Report

of

De’

Longhi

S.p.A.,

attest,

also

taking

account

of

the

provisions

of

paragraphs

2,

3

and

4,

art.

154-bis

of

Decree

58

dated

24

February

1998:

that the accounting and administrative processes for preparing the consolidated financial statements during the first half of 2026:

-

have

been

adequate

in

relation

to

the

company's

characteristics

and

-

have

been

effectively

applied

It is also certified that the consolidated financial statements at 30 June 2026:

-

have

been

prepared

in

accordance

with

the

International

Financial

Reporting

Standards

adopted

by

the

European

Union

under

Regulation

(EC)

1606/2002

of

the

European

Parliament

and

Council

dated

19

July

2002

and

with

the

measures

implementing

art.

9

of

Decree

38/2005;

-

correspond

to

the

underlying

accounting

records

and

books

of

account;

-

are

able

to

provide

a

true

and

fair

view

of

the

issuer's

statement

of

financial

position

and

results

of

operations

and

of

the

Group

of

companies

included

in

the

consolidation.

The report on operations contains a reliable account of performance and of the results of operations and

of

the

situation

of

the

issuer

and

the

Group

of

companies

included

in

the

consolidation,

together

with

a

description

of

the

principal

risks

and

uncertainties

to

which

they

are

exposed.

Treviso, 30 July 2026

Fabio de’ Longhi Stefano Biella Chief Executive Officer Officer Responsible for Preparing the Company’s Financial Report

82

Review report on consolidated condensed interim financial

statements

To the Shareholders of De’ Longhi SpA

Foreword

We have reviewed the accompanying consolidated condensed interim financial statements of De’ Longhi SpA and its subsidiaries (the “De’ Longhi Group” ) as of 30 June 2026 , comprising the consolidated statement of financial position , the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in net equity , the consolidated statement of cash flow and related notes. The directors of De’ Longhi SpA are responsible for the preparation of the consolidated condensed interim financial statements in accordance with the accounting standard IAS 34 as issued by the International Accounting Standards Board and adopted by the European Union applicable to interim financial reporting. Our responsibilit y is to express a conclusion on these consolidated condensed interim financial statements based on our review.

Scope of review We conducted our work in accordance with the criteria for a review recommended by Consob in Resolution 10867/1997. A review of consolidated condensed interim financial statements consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than a full -scope audi t conducted in accordance with International Standards on Auditing (ISA Italia) and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the consolidated condensed interim financial statements.

2 of 2

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the consolidated condensed interim financial statements of De’ Longhi Group as of 30 June 2026 are not prepared, in all material respects, in accordance with the accounting standard IAS 34 as issued by the International Accounting Standards Board and adopted by the European Union applicable to interim financial reporting.

Verona, 31 July 2026

PricewaterhouseCoopers SpA

Signed by

Paolo Vesentini

(Partner)

This review report has been translated into the English language solely for the convenience of international readers. Accordingly, only the original text in Italian language is authoritative.

This report is available on the corporate website: www.delonghigroup.com De’ Longhi S.p.A. Registered office: Via L. Seitz, 47 - 31100 Treviso Share capital: Euro 226,942,105.50 (subscribed and paid-in) Tax ID and Company Register no.: 11570840154 Treviso Chamber of Commerce no. 224758 VAT no.: 03162730265