Half yearly report 2026

El.En. Group

Half Yearly Financial Report as of 30th June, 2026

EL.EN. S.P.A.

Registered office in Calenzano (FI) – Via Baldanzes e no. 17 Subscribed and fully paid-up share capital: € 2.614 .665,82 (*) Registered with the Florence Business Register no. 03137680488

(*) At the approval date of this document

The Italian version of this financial statement is the official document. In the event of any discrepa ncies between the English translation and the Italian original, the I talian version shall prevail.

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CORPORATE BOARDS OF THE PARENT COMPANY

(as of the approval date of the half-yearly financi al report as at 30 June 2026)

Board of Directors

CHAIRMAN AND MANAGING DIRECTOR

Gabriele Clementi

MANAGING DIRECTOR

Andrea Cangioli

BOARD MEMBERS

Fabia Romagnoli

Michele Legnaioli

Alberto Pecci

Roberta Pecci

Giovanna D'Esposito

Board of Statutory Auditors

CHAIRMAN

Carlo Carrera

STATUTORY AUDITORS

Paolo Caselli

Rita Pelagotti

Executive officer responsible for the preparation o f the financial statements pursuant to It. Law 262/ 05

Enrico Romagnoli

Executive officer responsible for the preparation o f the sustainability statement pursuant to It. Legi slative Decree 125/24

Caterina Delibassis

Independent Auditor

EY S.p.A.

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EL.EN. GROUP

HALF-YEARLY

MANAGEMENT REPORT

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EXPLANATORY NOTES

1.1 Adoption of international accounting standards

The half-yearly financial report as at 30 June 2026 , approved by the Board of Directors on 10 Septembe r 2026 and prepared on a consolidated basis pursuant to Articl e 154- ter of Italian Legislative Decree of 24 February 1998, no. 58 (TUF) and subsequent amendments and additions, was prepared in compliance with the International Finan cial Reporting Standards (IFRS) issued by the Internatio nal Accounting Standards Board (IASB) and endorsed by the European Union.

The acronym “IFRS” also includes the International Accounting Standards (IAS) still in force, as well as all interpretative documents issued by the International Financial Rep orting Interpretations Committee (IFRIC).

This report, prepared in accordance with IAS 34 – I nterim Financial Reporting, uses the same accountin g policies as those used to prepare the consolidated financial st atements as at 31 December 2025, except for the int ernational accounting standards effective from 1 January 2026, as described in the Explanatory Notes under “Accou nting standards and accounting policies”.

On 7 August 2026, the subsidiary Ot-las S.r.l., who lly owned by El.En. S.p.A., signed a binding agreem ent with the TRUMPF Group for the disposal of an 80% interest in the share capital of a newly incorporated company wholly owned by Cutlite Penta S.p.A., to which the business unit relating to the activities currently carried out b y Cutlite Penta S.p.A.

in the design and manufacture of high-performance l aser systems for cutting materials, including metal , plastic, wood and dies, will be contributed. Closing is expected within six months of signing the agreement, subject to the fulfilment or, where permitted, waiver of the conditions prece dent.

Accordingly, as this is one of the Group's main bus iness lines, in view of this agreement the present financial statement presents the contribution of the industrial cutting division included in the disposal under assets, li abilities and the income-statement result from discontinued operations in accordance with IFRS 5. For 30 June 2025, adjus tments to comparative data were necessary only for the consol idated Income Statement and the consolidated cash f low statement, as required by paragraph 40 of IFRS 5.

All amounts are expressed in thousands of euros, un less indicated otherwise.

5 1.2 Description of the group’s activities

Founded in 1981 on an idea by a University professo r and one of his students, El.En. has developed ove r the years into a structured and dynamic industrial group specialis ed in the production, research and development, dis tribution and sales of laser systems.

The laser, acronym of “ Light Amplification by Stimulated Emission of Radia tion ”, a fascinating technology invented in 1960, is the technological core of the Group. This light emission with such particular characteristics (mono-chromaticity, coherence, brightness) has an ever growing number o f applications which have given rise to actual indu strial sectors and have radically changed the way other sectors op erate. Telecommunications, sensors, printers, litho graphy, atmospheric detection, advanced vision systems, a v ariety of processes in industrial manufacturing, as well as medical and aesthetic applications have benefited from the innovations made possible by the versatility, preci sion and reliability of laser systems. Scientific research and applied i ndustrial research will still find innovative appli cations for laser technology, which we will take advantage of both di rectly and indirectly.

Among the many types of laser sources and applicati ons developed to date, the group has specialised in the creation of systems for two main application areas: laser syste ms for medicine and aesthetics, which we call the M edical sector, and laser systems for manufacturing processes, whic h we call the Industrial sector. Each of the two se ctors includes numerous differentiated segments for the specific a pplication of the laser system, and therefore for t he specific underlying technologies and for the type of user. A s a result, the group’s business, generically defin ed as production of laser sources and systems, includes a considerable variety of products catering for many types of cust omers and markets, also by virtue of the global presence of t he Group that leads it to adapt to the peculiaritie s of every region of the world in using our technologies.

Over time, the Group has taken on the current struc ture by setting up new companies and taking over ot hers. The activities are conducted by this structured group o f companies that operates in the production, resear ch and development, distribution and sales of laser system s. Specific business units, sometimes referring to a single geographic market, sometimes to a particular product niche, an d sometimes to a more extensive and cross-cutting s cope of activity across technologies, applications and geographic ma rkets, are managed by dedicated operating structure s and companies. The activity of all group companies is c oordinated by the parent company so that adequate r esources are made available for the individual business segments to better serve the target markets, taking advanta ge of the dynamism and flexibility of the individual business units without losing the advantages of coordinated management of certain resources.

The comprehensive offer and the ability to segment certain markets in order to maximise the total shar e held by the group, together with the opportunity of involving m anagerial skills in their capacity as minority shar eholders, underlies the corporate structure of the group. The number of member companies must always be related to the lin ear division of the business, which we identify, for reporting b ut above all for strategic purposes, as follows:

6

The sale of systems is associated to the after-sale s service, essential support to installation, maint enance and correct use of our laser systems and significant source of revenues for spare parts, consumables and technical assistance services. The sale of surgical consumables, specifi cally single- and multi-use sterile optical fibres used in urology surgeries, is becoming increasingly important in po st-sales revenues.

Following the disposal of the Group's activities in laser cutting systems for the manufacturing indust ry, through the disposal of Penta Laser Zhejiang in 2025 and the ag reement for the disposal of Cutlite Penta signed in August 2026, the Group will no longer generate revenue in the releva nt segment, which will therefore no longer appear i n its financial reporting.

The structure of the Group into numerous companies also reflects the strategy of product distribution and of organisation of research and development and market ing activities. In the medical sector, the strategy for integrating companies acquired or established over the years (D eka, Asclepion, Quanta System and Asa) has followed a distinctive and original approach for our industry: each one of these companies has maintained its own specific ch aracterisation for the elective technologies developed and range o f products, with brands and distribution networks i ndependent from the other companies of the group, constituting a re al business unit with its own strategic and market positioning.

Furthermore, each company has been able to take adv antage of the cross fertilisation offered by each research hub, making their elective technologies available also t o the other companies in the group. This strategy, despite presenting certain management complexities, has driven the gro up's growth, making it, in its articulated structur e, one of the most important entities in the medical laser application s market. While recognising the vital role the mult i-brand and multi-

R&D approach has played in the group's growth, we a lso see the need for increasingly close coordinatio n among the activities of our medical sector business units . This involves promoting joint activities, particu larly in distribution where circumstances permit. For example, in Italy, the “R enaissance” brand unites Deka, Quanta System and Asclepion within a single organisation, while in the DACH region Asc lepion has established distribution networks also d edicated to selling Quanta System and Deka systems.

Although laser technology is a common factor, as se veral strategic components and some R&D and product ion activities are shared, the two Medical and Industrial sectors target very different markets. The activities that they perform are organised so as to meet the profoundly different cu stomer requirements of the two sectors. Furthermore , each market features specific dynamics of the demand and growth expectation linked to different key factors.

The medium-term growth forecasts are positive for b oth sectors. The medical sector sees an ever increa sing demand for aesthetic and medical treatments by a populatio n that, on average, is getting older and which seek s to limit the effects of ageing. There is also a growing demand f or technologies that can minimise operating and hos pitalisation times in some surgical procedures or that can enhance the ir effectiveness, reducing their impact on the pati ent (minimal invasiveness) and overall costs. For the industrial sector, laser systems are an ever more essential t ool for certain types of manufacturing, making flexible and innovative te chnologies available for companies competing on int ernational markets and who want to raise their quality standar ds and increase productivity. Therefore, while part of the traditional

MEDICAL SECTOR

INDUSTRIAL SECTOR

Aesthetic

Surgical

Physiotherapy

Medical Service

Cutting

Marking

Laser sources

Restoration

Industrial Service

7 manufacturing market, laser systems make up a high- tech component which, thanks to constant innovation of the laser product and of the processes which lasers allow to develop, continues to feature interesting growth pr ospects.

Generally, considering the excellent growth outlook of the target markets on the medium and long-term, the group is able to acquire market shares and to create new app lication niches thanks to innovation. The breadth o f our product range and our ability to continuously innovate—adap ting to meet existing market needs or, better still , creating new ones—are our critical success factors. The El.En. G roup was and still is able to excel in this busines s. The section dedicated to research and development documents and bears witness to its importance in the group’s act ivities and to the great attention paid in allocating the appropri ate resources needed to guarantee the prosperity of the group in years to come.

8 1.3 Description of the group

As at 30/06/2026, the structure of the group is as follows:

9 1.4 Alternative non-GAAP measures

The El.En. Group uses certain alternative non-GAAP measures that are not identified as accounting meas ures within the IFRS, to allow for a better assessment of the perfo rmance of the Group. Therefore, the determination c riteria applied by the group might not be consistent with those ado pted by other groups and the result obtained might not be comparable with that determined by the latter.

These alternative non-GAAP measures, determined in accordance with the Guidelines on Alternative Perfo rmance Measures issued by ESMA (ESMA/2015/1415) and adopte d by CONSOB in communication no. 92543 of 3 Decembe r 2015, relate only to the performance of the account ing period covered by this document and of the comp arative periods.

The group uses the following alternative non-GAAP m easures to assess the economic performance:

- value of production : determined by the sum of revenues, the variation in finished goods, semi-finished goods, work in progress and capitalisation and other incom e;

- gross margin : which is an indicator of the margins of sales det ermined by adding the entry “Other operating services and charges” to the Added Value;

- added value : determined by adding the entry “Staff costs” to t he EBITDA;

- the earnings before income taxes, devaluations, depreci ations and amortizations or “EBITDA”: it is an operational performance indicator and is determined by adding the entry “Depreciation, amortization an d other accruals” to the EBIT;

- the earnings before interest and income taxes, or “EBIT”, represents the difference between reven ues and other income, production costs, other operating cos ts and depreciation, amortization and other accrual s;

- the impact that the various entries of the income s tatement had on revenue.

The Group uses the following alternative non-GAAP m easures to assess its ability to meet financial obl igations:

- the net financial position understood as: cash and cash equivalents + securit ies included in current assets + current financial receivables - current financial debts and liabilities - non-current financial liabilities - other non-current payables (prepared in line with the ESMA Guidelines which, a s of 5 May 2021, amended the references contained i n previous CONSOB communications, including the references in Communication no. DEM/6064293 of 28-7-2006 on net f inancial position).

10 1.5 Performance indicators

The following performance indicators were identifie d to provide additional information on the group's capital, financial and income structure:

30/06/26 30/06/25

Profitability Ratios (*):

ROE 13,2% 9,8%

(Net Income / Own Shareholders' Equity)

ROI 13,7% 9,0%

(EBIT / Total Asset)

ROS 17,6% 14,0%

(EBIT / Sales)

Capital structural ratios:

Assets flexibility ratio 0,68 0,64 (Current Assets / Total Assets)

Indebtedness 0,31 0,42 (Total liabilities / Total assets)

Leverage 1,03 1,10 ((Net Equity+ Loans) / Net Equity )

Current Ratio 3,84 2,86 (Current Assets / Current Liabilities)

Current liability coverage 2,63 1,78 ((Current receivables + Cash and cash equivalent s + Securities) / Current liabilities)

Quick ratio 1,74 0,84 ((Cash & cash equivalents + Investments) / Current liabilities)

(*) For interim periods, the income statement amoun ts have been annualised.

For a clearer view of the table above and in the li ght of the provisions on alternative non-GAAP measu res, we consider it appropriate to give the following definition ref erring to the financial statements:

- Own Shareholders’ Equity = Group's shareholders' eq uity – Net income (loss)

11 1.6 Comment on current performance

In the first half of 2026, El.En. successfully purs ued its growth objectives in the medical sector and took steps to complete the disposal of the laser-cutting business, which b egan last year with the sale of Penta Laser Zhejian g, by signing an agreement in August for the disposal of Cutlite Pen ta, with closing expected in the coming months.

The disposal redefines the Group's perimeter and ar eas of operation, increasing the medical sector's s hare of revenue from 72% in the 2025 financial year to 92% in the f irst half of 2026 under the new perimeter.

In accordance with IFRS 5, information on performan ce in the first half is presented by excluding the activities being sold from full consolidation. Their revenue is ther efore no longer included in Group revenue, while th e net income of the activities being sold continues to contribute t o the Group's consolidated net income and is presen ted in a single line as the result from discontinued operations.

The Group's operating performance was highly satisf actory. In the six months, revenue grew by 9,1% (5, 2% on a like-

for-like presentation), EBIT amounted to 43,4 milli on euros, up +37,6% (44,9 million euros and an incr ease of 29,7% on an unchanged presentation), and net income for the period rose from 17,9 million euros to 26,1 million euros, an increase of 45,5%.

These are very positive results and a source of gre at satisfaction for management.

Revenue was in line with the guidance, which foreca st growth of more than 5%; it significantly exceede d this level under the new presentation and achieved it under the reve nue structure on which the guidance had been based. EBIT increased sharply, both in absolute terms and as a percentage of sales, fully meeting expectations. T he different growth trends in the two sectors—the medical sector growin g by 10,4% and the industrial sector declining by - 4,1% or - 8,3%, depending on the presentation—combined with the dif ferent margins achieved by each sector, explain the marked increase in operating profit and profitability. Dur ing the six months, the medical sector's gross marg in was 48,9%, while the sector's EBIT represented 19,6% of sales, up fr om 15,6% in the first half of 2025. The figures for the industrial sector are very different. They merit closer examination b oth to compare the structure of the income statemen t before and after the disposal of Cutlite Penta and to highligh t a temporary accounting effect that adversely affe cts the sector's result. Under the new presentation, in the first ha lf the industrial sector recorded a gross margin of 60,5% and an operating loss equal to -5,8% of revenue. If the cu tting business continued to be included, the gross margin would have been 36,9% and operating profitability 0,6%. The in dustrial-sector activities that will continue to be managed by the Group therefore have a gross-margin profile in line with, if not higher than, that of the medical sect or. EBIT for the period is negative solely because of the different and artificial accounting classification resulting from application of IFRS 5. This standard requires the financial effects of the disposal transaction, irrespective of their nat ure, to be summarised in a single line of the income statement, ‘result f rom discontinued operations’, immediately before th e result for the period. The industrial sector's pro forma EBIT woul d in fact have amounted to a positive 400 thousand euros, equal to 0,6% of revenue.

Once again, therefore, the results of the Medical s ector enabled the Group to achieve record results f or the half-year.

Performance was positive for substantially all the Group's operating units—Deka, Quanta System, Asclep ion and ASA— and across all the main application segments. Certa in products and activities provided a decisive boos t to sales growth and, consequently, to profitability for the period. The urological applications segment recorded an in crease in the volume of systems sold during the period, mainly th anks to Quanta System, which maintained its leading position in the segment, but also with a contribution from Asclepio n's surgical division, which expanded its niche mar ket position.

Procedures performed using our systems also require sterile optical fibres, in increasing volumes due to the expansion of the installed base and the intensive use of the systems. The revenue component generated by sales o f consumables reached a significant level, which was confirmed du ring the half-year; cost-reduction work improved pr oduct margins, benefiting the overall margins of the sector and th e Group. The other area in which the Group's produ cts continue to stand out in the market is anti-ageing applications , now the Group's most important application segmen t. The range of sophisticated technologies offered is broad: from t he reinterpretation of the traditional fractional C O 2 laser with Deka's Tetra Pro, to ultra-short-pulse systems (Quanta's D iscovery Pico and Deka's Toro), semiconductor syste ms such as Deka's Red Touch Pro and Asclepion's Yellow Star, a nd finally the product of the moment, Onda Pro, who se microwave technology and versatility for use on the body and face have made it an application standard.

12 Following the disposal of the laser-cutting busines s unit, the industrial sector's activities are conc entrated in three operating areas: marking, laser sources and restora tion. In marking, Lasit operates in identification systems mainly for small surfaces, Ot-las in decoration systems and te chnical processing on large surfaces, and El.En. wh ich develops and supplies special systems, often together with its m edium-power CO 2 laser sources, which also constitute one of its operating areas. Activities relating to technologie s for the conservation of artistic heritage, more s imply restoration, are carried out within El.En.

In the first half of 2026, Ot-las and El.En.'s indu strial division recorded a slight increase in reven ue and also improved profitability. Lasit, which is the most significant of the activities in terms of size, recorded a red uction in revenue and EBIT. The presence of certain non-recurring charges and the postponement of certain orders to the seco nd half provide grounds for expecting a recovery in the second half .

Commitment to innovating the range of products offe red is reflected in Research and Development activi ties, on which substantial expenditure and investment are focused, particularly for the highly qualified personnel in our technical and research departments. These departments, working cl osely with those in direct contact with the market and management, develop the guidelines for implementing innovative new products and then produce them with in the tight timeframes currently required by the market. The effectiveness with which these activities are c arried out within our operating units has always been the hallmark of our Group and its most significant competitive str ength.

From a cash-flow perspective, the half-year showed a further increase in the consolidated net financia l position, which reached 184,5 million euros as at 30 June, up 12 mi llion euros since the beginning of the year. The ef fect on the net financial position of presenting the consolidated r esults under IFRS5 is a positive contribution equal to the net financial debt of the operations held for sale as at 31 Decem ber 2025, amounting to approximately 16 million eur os. This remains the responsibility of the Group, in its current com position, but is no longer included in the net fina ncial position because it is to be disposed of. Net of this contribution, the net financial position decreased by approximate ly 4,0 million euros during the half-year. The first half of 2026 saw th e normal expansion of net working capital, which, t ogether with dividend payments and fixed investments for the per iod, was not fully covered by the substantial liqui dity generated by income for the period.

Overall, the Group's organisational, financial and operating structure is characterised by solidity, e nabling the Group to look to its future growth prospects with confidence and awareness of its strengths.

The El.En. Group continued its sustainability initi atives, with particular attention to strengthening the internal control system, monitoring the supply chain, enhancing peop le and reducing emissions. On the latter front, the Group has not only achieved the Scope 2 emission-reduction target s set for 2030 ahead of schedule, but is also defin ing new, more ambitious targets covering both direct and indirect emissions. Furthermore, the implementation of the 2023–2027 Sustainability Plan continues, with overall progres s in line with—and in some areas exceeding—the defi ned objectives, particularly regarding energy transition initiative s towards renewable sources. The Plan continues to focus on strategic issues, such as combating climate change, the circu lar economy, promoting a responsible supply chain, enhancing human capital, and supporting local communities, co nfirming the Group's commitment to a sustainable de velopment model fully integrated into business processes.

13 The following table breaks down the revenue in the first six months of 2026 in the business sectors of the Group, compared with the corresponding breakdown for the s ame period of the previous financial year.

30/06/2026 Inc % 30/06/2025 Inc % Var %

Medical 227.501 92,31% 206.131 91,25% 10,37% Industrial 18.953 7,69% 19.772 8,75% -4,14% Total revenue 246.454 100,00% 225.903 100,00% 9,10%

Consolidated revenue increased by 9,1%, thanks to t he positive performance of the medical sector, whil e revenue in the industrial sector declined.

From the perspective of the geographical distributi on of revenue, the performance of the period is sho wn in the

following tables:

30/06/2026 Inc % 30/06/2025 Inc % Var %

Italy 27.147 11,01% 29.994 13,28% -9,49% Europe 80.780 32,78% 76.872 34,03% 5,08% Row 138.528 56,21% 119.037 52,69% 16,37% Total revenue 246.454 100,00% 225.903 100,00% 9,10%

Medical sector

30/06/2026 Inc % 30/06/2025 Inc % Var %

Italy 18.801 8,26% 22.283 10,81% -15,62% Europe 72.329 31,79% 66.954 32,48% 8,03% Row 136.371 59,94% 116.895 56,71% 16,66% Total revenue 227.501 100,00% 206.131 100,00% 10,37%

Industrial sector

30/06/2026 Inc % 30/06/2025 Inc % Var %

Italy 8.346 44,03% 7.711 39,00% 8,23% Europe 8.451 44,59% 9.918 50,16% -14,80% Row 2.157 11,38% 2.143 10,84% 0,65% Total revenue 18.953 100,00% 19.772 100,00% -4,14%

It is noteworthy that the revenue results by geogra phical area for the medical and industrial sectors differ so markedly.

In Italy, the medical sector declined, while the in dustrial sector recorded a strong recovery. In Euro pe, the industrial sector was weak, while growth in the medical sector was robust. Lastly, in non-European markets the in dustrial sector recorded modest growth, while performance in the me dical sector was outstanding, with growth accountin g for most of the increase in consolidated revenue during the period.

In Italy, the slowdown in the medical sector was in itially due mainly to the professional aesthetics s egment, but in the second quarter it also affected the more strictly m edical segment. Order intake in recent weeks has be en encouraging, but it will not be easy to make up the shortfall ag ainst 2025 during the year, also given the comparis on with the particularly positive second half of 2025. The indu strial sector performed well, mainly thanks to Lasi t's recovery.

The medical sector therefore owes all of its growth to international markets: in Europe, Asclepion's e xtensive organisation, which also serves the other Group com panies, boosted results in the DACH area. In the re st of the world, the Far East countries recorded the strongest growt h, overtaking North America as the Group's most imp ortant revenue area.

14 In the industrial sector, sales in Europe declined, mainly for Lasit, while in the rest of the world t he best results were recorded by sales in North America.

Within the medical systems sector , which, following the disposal of the laser-cuttin g business, accounts for approximately 92,3% of the Group’s revenue, the sal es performance of the various segments is shown in the following

table:

30/06/2026 Inc % 30/06/2025 Inc % Var % Aesthetic 125.951 55,36% 113.444 55,04% 11,02% Surgery 48.829 21,46% 42.527 20,63% 14,82% Physiotherapy 8.268 3,63% 8.213 3,98% 0,67% Others 2.109 0,93% 617 0,30% 241,54% Total medical systems 185.157 81,39% 164.802 79,95% 12,35%

Medical service 42.344 18,61% 41.329 20,05% 2,46%

Total medical revenue 227.501 100,00% 206.131 100,00% 10,37%

Revenue growth was also recorded in all application segments on a half-yearly basis.

Aesthetics maintained solid growth, with an excelle nt double-digit result. The applications and system s that best represented our Group worldwide were anti-ageing so lutions, both the mini-ablative CO 2 technology, now a benchmark for facial treatments, and body and facial anti-age ing systems such as Deka's Onda Pro and Red Touch P ro. Once again, the excellent result in the aesthetics sector was a chieved despite the decline in the hair-removal seg ment.

The success of Onda Pro, the evolution of Onda, our microwave system for body treatments, is particula rly significant.

It was developed to meet market demand increasingly focused on firming. This success, in addition to b eing proven by the number of systems sold, is reflected, even more annoyingly, in the growing number of imitations, s ometimes outright copies, appearing on the market and challe nging both our sales network and our legal offices. We continue to advise customers and potential customers to be wary of products not offered directly through our offic ial distribution network.

Among the main segments, surgical applications reco rded the best result, mainly thanks to urology syst ems, but also to the strong performance of CO 2 laser systems for ENT and gynaecology.

Performance in the Physiotherapy sector was also po sitive.

For the residual “others” sector, the marked increa se was essentially due to the excellent performance of the dental sector in the US market.

Medical service revenue includes revenues from serv ices and goods sold at a later stage than the sale of the systems.

Just over 50% of medical service sales are represen ted by sterile optical fibres for surgical applicat ions in urology. The exit of the Japanese company Withus from the scope of consolidation resulted in an inorganic revenue l oss for the service segment equal to approximately 3% of revenu e. Organic growth in the segment was therefore appr oximately 6%.

It should be noted that Quanta System is completing the construction of a new and larger clean room at its Samarate facility, dedicated to the production of sterile op tical fibres, in order to increase production capac ity for these products.

This is an investment in capacity and productivity, alongside significant investments in research and development, aimed at maintaining Quanta's leadership in the segment a nd supporting its profitability levels, which are t he highest in the group both in terms of size and impact on revenue.

For the sector of industrial applications , the following table details the revenues accordin g to the market segments the Group is active in. Revenue decreased markedly comp ared with previous periods following the exit of th e laser-cutting segment. For completeness, we note that half-year r evenue in the Cutting sector amounted to 53,8 milli on euros, compared with 60,2 million euros in 2025, of which 46,7 million euros related to systems, compared wit h 54,7 million euros in 2025.

15

30/06/2026 Inc % 30/06/2025 Inc % Var % Cutting - 0,00% - 0,00% Marking 11.209 59,14% 13.482 68,19% -16,86% Laser sources 1.442 7,61% 1.707 8,63% -15,49% Conservation 588 3,10% 316 1,60% 85,89% Total industrial systems 13.240 69,86% 15.505 78,42% -14,61%

Industrial service 5.713 30,14% 4.267 21,58% 33,90%

Total Industrial revenue 18.953 100,00% 19.772 100,00% -4,14%

In the industrial sector, revenue decreased by appr oximately 4,1%, with system sales declining in all application segments except restoration.

By contrast, sales of after-sales services and comp onents performed very well, increasing both in volu me and as a share of total revenue.

The restoration segment continues to be a source of great satisfaction thanks to its steady growth, in cluding in the rental and consultancy services offered to customer s, and above all to its outstanding achievements in numerous artistic-heritage conservation and restoration proj ects made possible by the distinctive nature and ef fectiveness of the technologies developed by the Group in this field. The success and growth of this small division once again demonstrate the versatility of both laser technology and the El .En. Group in identifying significant applications.

We return here to our collaboration with the Egypti an Museum in Turin and the results of work performe d on the monumental sandstone sphinx dating from 1408 BC fro m the Temple of Mut at Karnak, where the delicacy o f the laser made it possible to reveal traces of the original p olychromy.

From ‘La Repubblica’ of 6 August 2026

16 1.7 Consolidated income statement as at 30 June 2026

Below we present the consolidated income statement for the period ended 30 June 2026, compared to that of the same period in the previous financial year.

Income Statement 30/06/2026 Inc % 30/06/2025(*) Inc % Var % Revenue 246.454 100,0% 225.903 100,0% 9,10% Change in inventory of finished goods and WIP 6.001 2,4% 1.279 0,6% 369,06% Other revenues and income 1.929 0,8% 2.665 1,2% -27,62% Value of production 254.384 103,2% 229.847 101,7% 10,68% Purchase of raw materials 115.850 47,0% 101.765 45,0% 13,84% Change in inventory of raw material (8.257) -3,4% (1.489) -0,7% 454,67% Other direct services 24.012 9,7% 20.375 9,0% 17,85% Gross margin 122.779 49,8% 109.195 48,3% 12,44% Other operating services and charges 26.897 10,9% 26.563 11,8% 1,26% Added value 95.883 38,9% 82.632 36,6% 16,04% Staff cost 47.149 19,1% 45.148 20,0% 4,43%

EBITDA 48.734 19,8% 37.484 16,6% 30,01%

Depreciation, amortization and other accruals 5.298 2,1% 5.926 2,6% -10,60%

EBIT 43.436 17,6% 31.558 14,0% 37,64%

Net financial income (charges) 1.714 0,7% (2.009) -0,9% Share of profit of associated companies (873) -0,4% (205) -0,1% 325,57% Other net income and charges (888) -0,4% 0 0,0% Income (loss) before taxes 43.389 17,6% 29.344 13,0% 47,86% Income taxes 13.703 5,6% 9.504 4,2% 44,17% Income (loss) from Continuing operations 29.686 12,0% 19.840 8,8% 49,63% Income (loss) from Discontinued operation (2.487) -1,0% (2.568) -1,1% -3,15% Income (loss) for the financial period 27.199 11,0% 17.272 7,6% 57,48% Income (loss) of minority interest 1.101 0,4% (660) -0,3% Net income (loss) 26.098 10,6% 17.932 7,9% 45,54%

(*) The values for the 2025 financial year have bee n restated in accordance with the standard IFRS 5.

The gross margin amounted to 122.779 thousand euros , up 12,4% from 109.195 thousand euros as at 30 Jun e 2025.

The improvement in gross margin was attributable to a more favourable mix within the medical sector, w hich accounts for more than 90% of revenue following the disposal of the laser-cutting activities. This result also reflects the high sales volumes of the anti-ageing system range, which has a high degree of innovation and therefore commands more attractive margins on the market. Furthermore, incr eased volumes of certain products, particularly ste rile optical fibres, generated a leverage effect and also reduced direct production costs, benefiting margins.

Costs for services and operating expenses amounted to 26.897 thousand euros, substantially unchanged f rom 26.563 thousand euros as at 30 June 2025. Their incidence on revenue decreased from 11,8% to 10,9%, demonstra ting an operating leverage effect that benefited profitabil ity.

Staff costs amounted to 47.149 thousand euros, up 4 ,4% from 45.148 thousand euros as at 30 June 2025, while their incidence on revenue decreased (20% in the first ha lf of 2025 and 19,1% in the first half of 2026). Th e notional costs for employee stock option plans amounted to 511 thousan d euros during the period, compared with 927 thousa nd euros as at 30 June 2025.

As at 30 June 2026, the group has 1.441 employees, up on 1.412 as at 31 December 2025. Of these, as at 30 June 2026, 217 related to the cutting division headed by Cutli te Penta SpA, whose contribution was reclassified u nder discontinued operations in accordance with IFRS 5, as stated in the introduction to this report.

A considerable amount of staff costs is absorbed by research and development, for which the Group also receives funds and reimbursements of expenses in view of specific contracts signed with the appropriate bodies.

EBITDA amounted to 48.734 thousand euros, up approx imately 30% from 37.484 thousand euros as at 30 Jun e 2025.

Its incidence on revenue increased from 16,6% in 20 25 to 19,8% in 2026.

17 Amortisation, depreciation and accrual costs decrea sed from 5.926 thousand euros as at 30 June 2025 to 5.298 thousand euros as at 30 June 2026, and their incide nce on revenue therefore decreased from 2,6% to 2,1 %. This variation is due to the effect of higher amortisati on/depreciation, provisions for risks, and lower ac crual for bad debts.

EBIT showed a positive balance of 43.436 thousand e uros, a marked improvement from 31.558 thousand eur os in the first half of 2025; its incidence on revenue also i ncreased from 14% to 17,6%. It should also be noted that, in presenting the consolidated income statement in accordance wit h IFRS 5, a purely accounting treatment reduces EBI T by approximately 1,5 million euros; excluding this eff ect, the half-year result would have been approxima tely 45 million euros. The impact of this cost on the income statem ent is then offset by revenue of the same amount, r ecognised mainly under the result from discontinued operations, so t hat the accounting treatment has no effect on net i ncome.

Financial income amounted to EUR 1.714 thousand com pared to the loss of EUR 2.009 thousand recorded in the same period of the previous financial year. The balance of exchange differences was decisive in this respec t, moving from a loss of approximately 3.367 thousand euros as at 30 June 2025 to a profit of 332 thousand euros in the half-year under review. The remainder of the result was generated b y returns on the Group's substantial liquidity, whi ch is invested over the short and medium term.

The share of the results of associated companies ma inly reflects the Group's EUR 93 thousand share of Elesta's profit and its shares of the losses reported by China's Pe nta Laser Zhejiang (EUR -654 thousand) and Japan's Withus (EUR -314 thousand), two companies whose majority interests w ere sold during the 2025 financial year and which c ontinue to report losses.

The negative result of other charges and income is due to the 100% write-down of the equity investment in Epica International Inc. held by the parent company El.En . SpA.

The income (loss) before taxes features a positive balance of 43.389 thousand euros, sharply higher th an 29.344 thousand euros as at 30 June 2025.

The tax burden for the period shows an overall expe nse of 13,7 million euros. Taxes for the half-year were calculated based on the best estimate of the expected tax rate s for 2026.

The overall tax rate for the period was approximate ly 31,6%, down from 32,4% in the same period of the previous financial year.

The first half closed with net income attributable to the Group of 26.098 thousand euros, up from 17.9 32 thousand euros as at 30 June 2025.

RESULT FROM DISCONTINUED OPERATIONS

The balance mainly relates to the contribution of t he cutting division headed by Cutlite Penta SpA, in accordance with IFRS 5, as described above. Specifically, it includ es the negative net income of the activities being sold, amounting to approximately 144 thousand euros, and a negative ex traordinary component of 3,9 million euros attribut able to impairment of the carrying amount of the activities being sold, in light of the price payable under th e existing agreements. Lastly, as a positive component, the it em includes the mere difference in accounting class ification arising from application of IFRS 5, which requires the econ omic effects of the disposal transaction, irrespect ive of their nature, to be summarised in a single line of the income sta tement, ‘result from discontinued operations’, imme diately before the result for the period.

18 1.8 Consolidated statement of financial position and n et financial position as at 30

June 2026

The reclassified statement of financial position be low shows a comparative assessment with that of the previous financial year.

Statement of financial position 30/06/2026 31/12/2025 Variation Intangible assets 4.733 4.613 121 Tangible assets 68.815 83.904 (15.089) Equity investments 5.648 7.120 (1.472) Deferred tax assets 9.279 11.670 (2.392) Other non-current assets 11.429 11.459 (29) Total non current assets 99.904 118.766 (18.862) Inventories 136.352 157.264 (20.912) Accounts receivable 80.086 117.341 (37.255) Income tax receivables 1.879 2.444 (565) Other receivables 17.287 20.627 (3.340) Financial instruments 58.929 37.080 21.849 Cash and cash equivalents 136.614 174.360 (37.745) Total current assets 431.147 509.116 (77.969) Assets held for sale 102.322 - 102.322 Total Assets 633.373 627.881 5.492 Share capital 2.614 2.612 2 Additional paid in capital 49.384 48.649 736 Treasury stock (2.524) (2.450) (74) Other reserves 155.015 141.426 13.588 Retained earnings / (accumulated deficit) 189.583 178.498 11.085 Net income / (loss) 26.098 43.415 (17.317) Group shareholders' equity 420.170 412.151 8.019 Minority interest 15.437 15.323 114 Total shareholders' equity 435.607 427.474 8.133 Severance indemnity 4.806 5.248 (441) Deferred tax liabilities 1.572 2.935 (1.363) Reserve for risks and charges 7.872 8.725 (852) Financial debts and liabilities 5.407 17.304 (11.897) Other non current liabilities 801 1.803 (1.002) Total non current liabilities 20.459 36.015 (15.555) Financial liabilities 5.536 20.766 (15.229) Accounts payable 62.502 90.019 (27.516) Income tax payables 7.236 4.896 2.340 Other current payables 36.997 48.712 (11.715) Total current liabilities 112.272 164.393 (52.121) Liabilities directly associated with the assets hel d for sale 65.034 - 65.034 Total Liabilities and Shareholders' equity 633.373 627.881 5.492

19

Net financial position 30/06/2026 31/12/2025 A Cash and cash equivalents 136.614 174.360 B Cash equivalents C Other current financial assets 59.645 37.725 D Liquidity (A + B + C) 196.260 212.085 E Current financial debt (709) (15.370) F Current portion of non-current financial debt (4.828) (5.395) G Current financial indebtedness (E + F) (5.536) (20.766) H Net current financial position (D + G) 190.723 191.320 I Non-current financial debt (756) (4.106) J Debt instruments (4.651) (13.199) K Non-current trade and other payables (801) (1.803) L Non-current financial indebtedness (I + J + K) (6.208) (19.107) M Net Financial Position (H + L) 184.515 172.212 The net financial position increased by approximately 12 million euros during the half-year, from 172,2 million euros as at 31 December 2025 to 184,5 million euros as at 30 June 2026. As shown in the chart below, the increase in net working capital, a normal feature for the Group in the first half of the financial year, absorbed approximately 15 million euros. Investments amounted to approximately 7,5 million euros, while the dividends distributed by the parent company and certain subsidiaries in May totalled approximately 21,3 million euros. The contribution to the net financial position arising from the exposure summarised solely in the total assets and liabilities of the statement of financial position for the activities being sold consists of the release of the net financial liabilities of the disposed activities as at 31 December 2025, amounting to approximately 16 million euros. * Nopat =Ebit -Income tax **D&A= Depreciation, Accruals and Devaluation ***NWC= Net Working Capital It should also be noted that, as at 30 June 2026, the fair value of liquidity invested in insurance-type financial instruments that, by their nature, must be recognised under non-current financial assets amounted to 10,9 million euros. Being medium-term liquidity investments, these amounts do not form part of the net financial position.

20 1.9 Subsidiary results

El.En. S.p.A. controls a group of companies operati ng in the same laser macro sector, each of which ha s its own application niche and a particular function in the market.

The following table summarises the performance of t he subsidiaries of El.En. S.p.A. This is followed b y brief explanatory notes on the activities of the individual companies and comments on the results for the first half of the 2026 financial year.

Revenue Revenue Variation EBIT EBIT Income

(loss) for

the

financial

period Income

(loss) for

the

financial

period

30/06/2026 30/06/2025 30/06/2026 30/06/2025 30/06/2026 30/06/2025

El.En. S.p.A. 86.637 71.956 20,40% 15.768 8.586 28.112 22.188 Ot-Las S.r.l. 1.860 1.085 71,43% (124) (452) (278) (823) Deka Mela S.r.l. 58.698 47.923 22,48% 4.564 2.792 4.014 2.651 Esthelogue S.r.l. 5.760 6.579 -12,45% (527) (110) (404) (103) Deka Sarl 2.263 2.491 -9,15% (55) 78 (59) 73 Lasit S.p.A. 12.223 13.680 -10,65% 1.293 1.733 761 1.254 Quanta System S.p.A. 91.188 85.127 7,12% 21.609 18.796 15.895 13.072 Asclepion GmbH 36.500 34.215 6,68% 1.450 963 1.002 964

ASA S.r.l. 8.879 8.786 1,06% 789 939 554 563

BRCT Inc. - - 0,00% (5) (5) (172) 52

With Us Co., Ltd(*) - 1.465 -100,00% - (648) - (655) Cutlite do Brasil Ltda 2.161 9.165 -76,42% (1.165) 970 (447) 582 Pharmonia S.r.l. 32 66 -51,52% - 15 1 13 Deka Japan Co., Ltd 868 958 -9,39% 219 184 139 101 Penta Laser Zhejiang Co., Ltd(**) - 38.247 -100,00% - (5.205) - (4.327) Merit Due S.r.l. 43 43 0,00% 21 22 16 16 Cutlite Penta S.p.A. 51.932 53.882 -3,62% 534 1.848 126 676 Galli Giovanni & C. S.r.l. 614 537 14,34% 88 51 57 30 Lasit Laser Polska 1.272 1.184 7,43% (127) 3 (135) 2 Lasit Laser Iberica, S.L. 247 965 -74,40% (110) 117 (129) 86 Lasit Laser Deutschland GmbH 1.087 1.257 -13,52% (39) 12 (41) 9 HL S.r.l. 145 100 45,00% (32) 281 (23) 237 Lasit Laser Uk Ltd 184 419 -56,09% (32) 31 (29) 21 Cutlite Penta USA, Inc. - - 0,00% - - - -

Nexam S.r.l. 1.765 1.176 50,09% 142 (531) 116 (543) Cutlite Poland sp. z o.o 160 - 0,00% 105 (14) 91 (14) Lasit Laser France Sas 473 43 1000,00% (85) (124) (85) (125) Cutlite Penta Iberica SL 207 251 -17,53% (180) 113 (139) 87 Cutlite Deutschland GmbH 653 - 0,00% 305 (39) 214 (27) Quanta System Inc. 6.068 - 0,00% 1.561 - 1.198 -

(*) for 2025 data consolidated up to 28/02/2025 (**) 2025 data from the China sub-consolidation, wh ich includes the results of the following companies : Penta Laser Zhejiang Co., Ltd, Penta Laser (Wuhan) Co., Ltd, Penta Laser Technology (Shandong) Co., Ltd. and Shenzhen KBF Laser Tech Co., Ltd.

El.En. S.p.A.

The parent company El.En. S.p.A. develops, designs, manufactures and sells laser sources and systems i ntended for sale and use in two main markets: the medical/aesthetics market and the industrial market. In both sectors, it also provides a series of after-sales services, providing custome rs with technical assistance, spare parts, and cons ultancy.

El.En. S.p.A. has pursued a strategy of expansion s ince its establishment by setting up or acquiring n umerous companies that have become its business partners in specific product or geographical markets. The activities of the group's companies are coordinated by defining supply relati onships, selecting and overseeing management, estab lishing

21 partnerships in research and development, and provi ding financing through equity contributions, intere st-bearing loans, or the extension of trade credit.

Co-ordination activities are very important, also d ue to the fact that the majority of El.En.'s revenu e is generated from subsidiaries acting as customers and entails the co mmitment of significant managerial and financial re sources. A significant portion of the company's resources are allocated to supporting the group's activities.

The activities of El.En. S.p.A., as in previous fin ancial years, were carried out at the Calenzano (FI ) headquarters and the local unit in Castellammare di Stabia (NA).

In the first half of 2026, El.En. recorded extraord inary revenue growth of more than 20%, entirely att ributable to the great success of systems for medical applications, particularly those sold through Deka's national and international distribution network. This resulted in record EBIT of more than 15 million euros. Financial management also improved significantly compared with 2025, driven by the ret urn on invested liquidity and the dividends paid by subsidiaries.

The outlook for the second half indicates that the positive performance of the first half may continue .

In May 2026, El.En. S.p.A. paid shareholders a divi dend of 0,25 euros per share, for a total outlay of approximately 20 million euros. Net of this outlay, El.En.'s net fin ancial position remained strongly positive as at 30 June 2026, at approximately 82 million euros.

Deka M.E.L.A. S.r.l.

Since El.En.'s early years, Deka has been the natur al commercial outlet for systems developed and manu factured by El.En. S.p.A. in Calenzano and is now its main dist ribution channel both in Italy and abroad. DEKA is the most prestigious and widely distributed brand on the Italian market for laser systems used in medical and aesthetic app lications. This leadership was strengthened by the launch of the Re naissance brand, under which the Group also brought together the Italian distribution of medical systems manufacture d within the Group by Quanta System and Asclepion. Internationally, the Deka brand is recognised as a major industry pl ayer and frequently wins awards for the quality of the systems it brings to market. Its presence in key areas in term s of market size and strategic importance is highly significant and reflects the strong momentum of its activities: in 2026, Deka significantly increased its sales in the Far East markets, offsetting the decline recorded in Middle Eastern m arkets due to the wars.

Deka operates in the fields of dermatology, aesthet ic medicine and surgery, using a consolidated netwo rk of direct distribution agents in Italy and highly qualified d istributors selected and renewed over time for inte rnational exports.

Deka's organisation, both in Italy and in the inter national network, is an increasingly visible and re cognised presence, synonymous with product innovativeness, a professio nal offering, and excellent performance of the lase r systems. A solid competitive position on which the Group is co unting and on which it is investing to build its fu rther growth, thanks to its ability to convey new products through its w ell-established and effective distribution network.

The 2026 half-year results were particularly strong , with a further surge in revenue (+22,5%) and net income (+51%), driven by highly successful sales, particularly in international markets during the period. We are ver y proud of our growing success in the Far East, which is becoming the world’s leading market area and, taken as a who le, is even overtaking the US market, not only in terms of volu mes but also because of its strong focus on the qua lity and innovative nature of the offering.

The outlook for the end of 2026 is positive.

Ot-Las S.r.l.

Ot-Las designs and produces laser marking systems w ith a CO 2 source for the decoration and processing of large- area surfaces made of various materials. For most of its systems it relies on supplies from the parent comp any El.En. of galvanometric scanning systems and medium power CO 2 laser sources.

In the first half, the company recorded solid reven ue growth compared with the same period of the prev ious year, but was unable to achieve break-even in operating activ ities, which would have required a higher sales vol ume.

Ot-las is also the controlling holding company of t he group's sheet metal laser cutting companies. It holds 19,79% of Penta Laser Zhejiang, while the disposal of Cutlite Penta was announced in the press release of 7 Augu st.

22 Quanta System S.p.A.

Founded as a scientific research centre for photoni cs applications and part of the group since the ear ly 1990s (controlled since 2004), Quanta has leveraged its extraordinary technical and scientific expertise to create sophi sticated laser systems for aesthetic medicine and surgery, establi shing itself as one of the most dynamic and signifi cant players in the sector. Within the El.En. Group it is the largest c ompany by revenue.

Today, Quanta System offers a range of premium lase r systems for aesthetic applications based on ultra short-pulse nanosecond and picosecond laser technologies, as we ll as systems for surgical applications based on ho lmium laser technology, in which it has become a key global ref erence among manufacturers of systems for stone rem oval (lithotripsy) and the treatment of benign prostatic hyperplasia (BPH).

In the first months of 2026, Quanta commenced the a ctivities of its US subsidiary, Quanta Inc. , established to manage sales in the surgical sector in the US market. In l ine with expectations and forecasts, the US subsidi ary is already making a tangible contribution in terms of both revenue an d EBIT.

Quanta System's results continued to be excellent i n 2026, with growth in both revenue and EBIT, furth er consolidating the results of the US subsidiary. The outlook for 2 026 is positive.

Lasit S.p.A.

Specialising in the design, manufacture, and sale o f marking systems for identification and traceabili ty, it carries out the production and development of its products at its T orre Annunziata (NA) headquarters.

The systems conceived and produced by Lasit are use d in manufacturing processes for the identification of products, parts and assemblies, an increasingly common need i n today's manufacturing world which is grappling wi th ever more stringent product and component traceability requir ements. Laser marking systems, with their operation al flexibility and low environmental impact, are able to meet this need with maximum effectiveness.

Lasit's great operational flexibility is also due t o the internalisation of certain phases, such as th e mechanical processing carried out by Lasit's workshop, which includes num erous latest-generation CNC systems and laser cutti ng systems for sheet metal, and also serves as a qualified interna l supplier for the rest of the group.

Technological and application development activitie s have enabled Lasit to expand its product range wi th ultrashort pulse systems and specific wavelengths that enable specific processes on different materials. Enginee ring and customisation activities underpin the special syste ms, which are often integrated with advanced vision systems and account for a growing share of Lasit’s revenue.

In revenue terms, 2026 has so far recorded a declin e, accompanied by a decrease in EBIT, which was als o adversely affected by provisions for non-recurring costs.

The outlook for the remainder of the financial year is for a recovery in the second half in revenue, E BIT and net income.

Asclepion Laser Technologies GmbH Asclepion has been part of the El.En. Group since 2 003, when it was acquired from Zeiss. Since then, t he company has grown, gradually gaining a significant position in the market for laser systems for medical and aesthe tic applications, and is now one of the Group’s three business units operating in the sector. Today, Asclepion has appro ximately 200 employees and operates from its own modern facility , with extensive areas dedicated to customer and st aff training.

The headquarters in Jena, the cradle of photonics w orldwide and a vibrant cluster of companies and sta rt-ups active in the world of electro-optics, is a major advantage f or Asclepion, both in terms of its high-tech image and the actual ease of access to very proactive environments in the bas ic and complementary technologies required to reali se our systems.

Asclepion is today an authoritative market referenc e, especially for the two laser technologies in whi ch it excels: diode (semiconductor) laser technology for hair removal a nd erbium laser technology for dermatology.

More recent involvement in the surgical sector has seen Asclepion develop high quality products for ur ology applications with holmium and thulium laser technology, achievin g excellent results in terms of technical performan ce of equipment in this branch as well. Laser systems are marketed under the Jenasurgical brand name.

A significant portion of Asclepion's revenues is ge nerated in the German-speaking European area (Germa ny, Austria, Switzerland, DACH), a territory where it also perfo rms, with excellent results, the role of distributo r for Deka-branded laser systems produced at the Calenzano plant.

23 Asclepion made a good start to 2026, recording soli d growth in revenue and operating profitability dur ing the first six months. The outlook for the second half is moderate ly optimistic that the solid results achieved in th e first half will continue.

ASA S.r.l.

Since its establishment, ASA of Vicenza has operate d in the field of physiotherapy by developing and m anufacturing a line of low- and medium-power semiconductor lasers. Through its range of products and its ability to p rovide specialised training, ASA empowers its customers to fully lever age the benefits of these technologies in their cor e applications.

Equipped with its own research and development func tion dedicated to the creation of semiconductor sys tems and an advanced laboratory for clinical research and exper imentation (ASA Campus), ASA also utilises Nd: YAG systems manufactured by the parent company El.En. S.p.A. an d distributes them worldwide, as well as contributi ng to the definition of product specifications and new applic ation protocols.

In 2026, revenue was in line with the previous fina ncial year, while EBIT was slightly lower. Expectat ions for the second half of the year are for a recovery compared with t he 2025 results.

In July, ASA jointly with El.En. completed a transa ction intended to make it a significant shareholder in its main customer, its North American distributor Cutting Edge Inc. AS A and El.En. provided Cutting Edge with a loan tota lling 2 million US dollars, convertible into 20% of the shares of Cutt ing Edge Inc., and subscribed for an option to acqu ire further interests in the US company. The transaction marks an importa nt stage in ASA's development, establishing increas ingly close cooperation aimed at accelerating growth in the US market.

Other companies, medical sector Deka Sarl distributes Deka and Quanta brand medical systems i n France. Its presence ensures direct and valuable brand positioning in the French market and in French- speaking North African countries. The company is ba sed in Lyon and moved in 2025 to new, more functional premises suit ed to its growth ambitions. The 2026 financial year is proving more difficult than expected, and the company was unable to maintain financial break-even during the period . With the support of the parent company, targeted measures ar e being undertaken to achieve a recovery in the sec ond half of the year.

Deka Japan operates in the Japanese market as a distributor of Deka-branded medical systems, using local partners .

The recent redefinition of our relationships with o ur Japanese sales partners, combined with the Minis try of Health's approval for the sale of certain aesthetic medical laser systems, gives us good reason to be optimisti c about this subsidiary's future growth. We expect positive deve lopments in both its direct sales and its support f or sales through alternative distribution networks in Japan.

Esthelogue S.r.l. over time, has built an effective sales organisatio n in Italy for technologies dedicated to the professional aesthetic market. In this lively marke t, Esthelogue is a recognised brand that has gained a leading role in laser hair removal and non-invasive body contouring applications. The technologies are provided and co ntinuously innovated by the Group companies. In hair removal, the Mediostar systems produced by Asclepion are rep resentative of the distinctive character of the Esthelogue offe ring, capable of satisfying every customer need, wi th a range characterised, among other things, by the extremely powerful Monolith handpieces and by the Red editio n protocols.

In non-invasive body contouring applications, Esthelogue offers a complete range t hat includes the Icoone system in its latest release, the Thermactive system and the B-st rong Plus system using innovative technologies and methods.

Revenue performance in the first six months of 2026 was weak, resulting in an operating loss. For the remainder of the year, the aim is to recover at least part of the sh ortfall compared with the previous financial year a nd the forecasts.

The company Pharmonia S.r.l. is restarting its activity of marketing aesthetic equipment within the pharmacy market in a currently sporadic and unstructured manner.

Galli Giovanni & C. S.r.l. is a workshop specialising in high-precision machin ing and a supplier to Quanta System; it joined the Group in June 2019. Thanks to the specif ications of the CNC machinery and the high professi onalism and specialisation of staff, it contributes to maintain ing high quality standards and flexibility in the p roduction of mechanical parts. By joining the group, Galli is enhancing its operations, thanks to new, more adequate headquart ers and new machinery. Performance in 2026 is maintaining finan cial equilibrium, in line with forecasts.

BRCT Inc. acts as a financial sub-holding company.

24 Industrial Sector, Companies being sold

Cutlite Penta S.p.A.

Cutlite Penta is dedicated to the laser cutting sys tems segment, with a structure that carries out the activities of development, design, production and sales. Established in the 1990s to operate as an in tegrator of the power laser sources produced by the parent company El.En. S.p.A . for plastic cutting and die-cutting systems, Cutl ite has today shifted the focus of its activity to the manufactur e of laser cutting systems for metal sheets. For th ese, it utilises so-

called fibre technology laser sources, made availab le on the market by high-quality manufacturers who have turned fibre laser sources into a commodity .

Cutlite was quick to integrate the advantages of th e new technology into its systems, and subsequently to adapt the performance of its systems to the evolving technolo gies available and the needs of the market. It has achieved great success thanks to its range of systems with an exce llent price/performance ratio, benefiting from a po sitioning advantage as an innovator. The rapid growth was sup ported by major investments to increase production capacity and by a consolidation of the workforce - which is now approaching 200 employees, particularly for the ess ential operational functions of testing, installation and after-sales service called upon to manage an increasing number of installed systems.

The operational activity, based on entirely Italian infrastructure, staff and technology, is today mai nly carried out in the factory located in Prato, where it was relocated in 2019 and whose surface area was expanded in 2022 w ith the purchase of a warehouse overlooking the same internal area. Furthermore, during 2025 Cutlite acquired an additi onal production plant in the Certaldo (SI) area to host the activit ies of one of its main partners for the manufacture of laser systems.

On 7 August, the Group announced that a majority in terest in Cutlite Penta would be sold to market lea der TRUMPF.

Closing is expected within a few months, following complet ion of certain formalities and fulfilment of certai n conditions.

Cutlite's half-year results were weak compared with expectations of a decisive recovery. Market positi oning was significantly affected by rumours of a possible imm inent disposal. These rumours disrupted Cutlite's a ctivities from the end of 2024 and throughout 2025, during and after t he disposal process involving the other company ope rating in the laser-cutting sector, China's Penta Laser Zhejiang.

Revenue in the Cutting sector, which also includes the other subsidiaries controlled by Cutlite, decli ned by approximately 10%, mainly due to the weak results o f Cutlite do Brasil. The half-year closed at substantial operating break-even, falling short of expectations of a reco very compared with the previous financial year.

As mentioned above, Cutlite Penta controls three sm all distribution companies in Europe— Cutlite Poland in Poland, Cutlite Iberica in Spain and Cutlite Deutschland in Germany—and since 2025 has held a majority inte rest in Nexam , a strategic supplier of automation solutions integrat ed into its systems.

Finally, the subsidiary Cutlite Penta USA Inc. was established to serve as a holding company for equity investments in the United States.

Cutlite do Brasil Ltda, with a plant in Blumenau in the state of Santa Cata rina, currently handles the distribution of laser systems manufactured in Italy by Cutlite Penta, wit h a logistics structure capable of providing effect ive technical support to the hundreds of laser systems installed in the t erritory. In recent years, Cutlite has also benefit ed from the rapid development of the flat sheet laser cutting market, achieving a significant revenue volume that has al lowed it to maintain excellent profitability. Since 2022 Cutlit e Penta has taken over from El.En. the controlling interest in Cutlite do Brasil, which therefore forms part of the Group's l aser-cutting division. The performance in 2025 was good, despite a slowdown in revenue over the course of the year. Th is slowdown continued into 2026, which began under very difficult conditions, with a minimal number of systems invoic ed during the period and a substantial operating lo ss that also adversely affected the results of the entire laser- cutting sector.

25 1.10 Comment on Research and Development activities

During the first half of 2026, Research and Develop ment activities continued to follow a strategy of o ngoing innovation, with the aim of exploring new applications for lase rs and other energy sources in both the medical and industrial sectors, including cultural-heritage conservation. The appro ach adopted aims to generate advanced technological solutions capable of standing out for their performance, appl ication versatility, and added value for the market .

El.En. Group is one of the few global players capable of developing, manufacturing, and marketing systems ba sed on a broad spectrum of laser technologies—including solid-state, semiconductor, active fibre, dye, and CO₂ lasers , as well as frequency conversion systems like OPOs and Raman shifters—which collectively cover the entire spect ral range from infrared to ultraviolet with diverse power levels a nd emission durations.

In addition to laser technology, El.En. is active i n the development of solutions based on other forms of electromagnetic energy, including radio frequency, microwaves and high-intensity elec tromagnetic fields , further expanding the possibilities for intervention and application. As a result, R&D activity extends to a wide range of s ystems, subsystems, and accessories, with the aim of offering concrete and innovative responses to the needs of an ever-ev olving market.

Laser systems and applications for aesthetic medici ne and surgery, El.En. and Deka

In dermatology, R&D continued on a new technology p latform dedicated to laser systems operating in the picosecond regime for the treatment of benign pigmented lesion s, tattoo removal and skin rejuvenation (Toning). T his platform is the basis for the development of future laser syste ms designed to offer superior performance in terms of energy and clinical efficacy, thanks to the use of three wavel engths: 1064nm, 532nm and 780nm.

In parallel with the technical design of the device s, scientific and clinical research is currently un derway on the study of radiation propagation in tissues (epidermis and der mis), with the aim of optimising protocols and para meters useful for the development of specific solutions for minimally invasive skin rejuvenation. The preliminary result s are encouraging and provide a solid basis for further validation an d development.

In the field of aesthetic medicine and dermatology , Onda microwave systems represent one of the most advanc ed expressions of technological innovation. The result of deep engineering and clinical expertise, these systems have redefined the standards of efficacy, safety, and se lectivity in the non-invasive treatment of localise d fat deposits, cellulite, and skin laxity; with the Pro version, they have extended their primary treatmen t area to facial lifting, thanks also to the release of the new applicator dedicated specifically to facial treatment.

Our leadership stems from an in-depth understanding of the interaction between microwaves and biologic al tissues, which enables us to design highly specialised appli cators capable of modulating energy according to th e depth and type of tissue being treated. This approach lets us deve lop targeted therapeutic solutions with long-lastin g, measurable, and safe clinical results, responding flexibly to the n eeds of an ever-evolving market. The microwave tech nology employed in our systems has demonstrated high efficacy in de rmal remodelling, particularly in the Tightening and Firming applications specifically requested to treat face a nd neck conditions resulting from rapid weight loss or ageing .

For surgical applications , research and development relating to CO₂ laser te chnology continued, with a particular focus on implementing a beam-reshaping system to optimise laser-beam quality and therefor e the precision and quality of the cutting action, both for waveguide use typical of laparoscopy and for use with micromanipulators i n ENT applications.

A particularly significant area of development conc erns accessories for ENT surgery. In particular, de velopment was completed on a new, innovative micromanipulator equipped with a fully automated system for focus a djustment, magnification control and dynamic beam management w ithin the surgical field; the device is the subject of a new international patent application.

Also in the surgical field, during the first half o f 2026 development was completed on two new laser s ystems emitting blue light at 445nm , with outputs of 10W and 30W, intended respectivel y for outpatient and operating-theatre surgical applications.

26 Laser systems and applications for aesthetic medici ne and surgery, Asclepion

During the first half, Asclepion steadily pursued i ts Research and Development programmes, in line wit h the corporate strategy of expanding and innovating its product po rtfolio in the aesthetics and surgery sectors. The activities focused both on completing major development projects and p reparing the certifications required for the commer cial launch of new technology platforms.

In the surgical segment, development was completed on an innovative laser system for urological applic ations featuring a new wavelength. The device has already obtained F DA clearance for the US market and MDR certificatio n, enabling successful commercialisation to begin.

In the hair-removal sector, the Monolith platform w as further enhanced through the introduction of a n ew high-

performance ‘GOLD’ line capable of delivering laser emissions at wavelengths of 808 nm and 1060 nm, ei ther simultaneously or in a suitable mix selected by the user. This development significantly expands the s ystem's therapeutic possibilities, providing greater treatment flexibil ity and a broader range of clinical indications, ma king it unique in the international market.

In the dermatology segment, two new systems were de veloped for the treatment of vascular lesions. The first product has already obtained the required certifications an d has been launched on the market; the second still requires one quarter to obtain MDR certification, while it is al ready ‘FDA cleared’ in the USA.

Commercialisation of the system in the Hair Care se ctor began in the second quarter, further expanding the Company's offering in a segment with attractive growth prospe cts.

The activities carried out during the first half co nfirm Asclepion's continuing commitment to developi ng technologically advanced solutions and strengthen the foundations f or the launch of new products that will contribute to business growth and consolidate the Company's competitivenes s in international markets.

Laser systems and applications for aesthetic medici ne and surgery, Quanta System

During the first half of 2026, Quanta System contin ued its Research and Development activities with th e aim of strengthening its technology portfolio and expandin g its range of highly innovative medical laser solu tions.

In the fibre-laser systems sector for urological ap plications, activities focused on developing new pl atforms with higher peak power levels than the current range standards, with the aim of improving clinical performance and extending treatment effectiveness to very hard urinary stones (‘hard stone’), for launch on the market in 2027.

With regard to dermatological applications, design work continued on a new fibre-laser source intended to generate controlled superficial ablative and coagulative eff ects. The project is aimed at creating a platform d edicated to photorejuvenation treatments, in line with growing demand for increasingly less invasive procedures an d shorter recovery times, to be launched on the market in 202 7.

At the same time, feasibility studies and applied r esearch were carried out to advance the technology of existing platforms, with particular attention to increasing the available functions and renewing product archit ectures, including the various configurations of the Pico family.

For sterile optical fibres and disposable devices, activities focused on redesigning the RFID connecto r and fibre-support system. The measures focused on automating assembly processes, increasing production capacity, improvi ng the user experience, optimising identification of the differ ent fibre types and updating product design, also w ith a view to reducing costs.

Following completion of the activities required to ensure continued commercial av ailability on the US market of laser systems incorporating refrigeration systems, the ch aracterisation and validation of prototypes for CO₂ -based refrigeration systems continued. These systems have a lower environmental impact and were developed in accordance with the latest regulatory guidance on Global Warmi ng Potential (GWP) and refrigerant-gas transportabi lity requirements.

The Research & Development and Innovation departmen ts also pursued cross-functional initiatives aimed at improving product ergonomics, defining a distinctive design s ystem through the adoption of innovative materials, technologies and solutions, and exploring applications based on Artificial Intelligence technologies, with the aim of generating new development and business opportunities.

27 Laser systems and applications for medical and vete rinary therapy, ASA

The subsidiary ASA expresses its R&D potential alon g three fundamental lines in the medical sector: te chnological research and development, scientific laboratory res earch, and applied clinical research.

A new robotic device for oncology use (treatment of radiation dermatitis) has been released and is rea dy for commercialisation. The new VET BLAZERIS device is b eing released into production. It is the first surg ical instrument manufactured by ASA and, also thanks to collaborati on with the parent company, completes the VET range and offers veterinary professionals a unique integrated instru ment in the sector. The new ONE device, the latest addition to the MLS® series, was also released. It is a redesign of the now obsolete 25 W MPHI and was launched as an entry-level product to meet the needs of lower-end markets.

Through the joint ASACampus laboratory, studies are under way on tissue repair and regeneration mechan isms, the effects in an in-vivo model of bronchopulmonary dys plasia in premature infants, the treatment of funga l infections and the application of lasers in models of cerebral hyp oxia-ischaemia.

Trials continue using the latest technologies appli ed to biology, such as 3-D Bioprinting, which enabl es the production of scaffolds to study the best conditions for cell regeneration under the effect of laser radiation.

Clinical activities are also intended to confirm th e positive results achieved through irradiation usi ng ASA devices. The studies currently under way concern therapies for t he treatment of myalgia, cervicobrachialgia and ten dinitis. Studies on various veterinary cases also remain active.

Real World Evidence data are also being collected f rom clinical practice for the future development of predictive models.

Co-funded research and development activity

During the first half of 2026, work continued on th e TALISMAN and LUX-CER-3D projects, which were laun ched in December 2023 and are currently scheduled for compl etion by the end of November 2026. It should be not ed that an extension of the completion date was requested for both projects: six months for TALISMAN and one mont h for LUX-

CER-3D. Furthermore, the European AIRCARE project, which began in July 2024, continued to be implement ed.

The TALISMAN and LUX-CER-3D projects were submitted under a call from the Ministry of Economic Develop ment (currently the Ministry of Industry and Made in Ita ly) through the Sustainable Growth Fund – Innovatio n Agreements referred to in the Ministerial Decree of 31 Decembe r 2021 and Directorial Decree of 14 November 2022 ( 2nd Call); the AIRCARE project was approved after moving up the ra nked list for the European call HORIZON-HLTH-2023-T OOL-05.

The "TALISMAN - Treatment of breast cancer with spe cific T lymphocytes activated with nanoparticulate materials" project is carried out in partnership with five par ticipants, including companies and universities, an d continues the path traced by the SVATT project but targeting a differe nt application sector. To carry out the project, El .En. is engaged in the study and development of an alternating magneti c-field emitter system for exciting nano-constructs based on magnetic nanoparticles and a laser system for excit ing nano-constructs based on gold nanoparticles for the treatment of breast cancer. During the first six months of 20 26, El.En. continued developing and fine-tuning the alternating magnetic-field generation and emission system used to excite the nano-constructs; in particular, it wo rked on developing a radiofrequency generator and associate d emitter with characteristics suitable for generat ing a sufficiently strong magnetic field at the depth within the human body where the lesion to be treated would be locat ed. Numerous laboratory tests were also carried out on in vitro and ex vivo samples to verify and validate the prot otypes developed.

The main objective of the “LUX-CER-3D – LUX-CER-3DP RINTING” project, carried out in partnership with f ive participating companies and universities, is to stu dy and develop a pilot line for the production of i nnovative products in clay or alumina via 3D printing. For the project , El.En. is busy studying and developing laser syst ems for 3D printing.

During the period under review, the company continu ed its work on developing laser systems for applica tions involving alumina powders and photosensitive resins filled wi th alumina powders. Work continued on fine-tuning l aser-treatment protocols for alumina powders, alumina-filled resin s and the decoration/surface finishing of alumina p roducts. Solutions were also developed to integrate the laser systems produced with prototypes designed by one of the pro ject partners, in order to create a device capable of 3D printing. To achieve the results and validate the prototype systems developed, numerous laboratory tests were performed to evaluat e the characteristics of the various innovative art efacts obtained.

28 The “AIRCARE AI-augmented Robotics for CAncer point of caRE” project, carried out by a partnership of eleven participants including companies and university bod ies, aims to introduce advanced artificial intellig ence and robotic technology into the clinical workflow for the diagn osis and treatment of cancer of the upper aero-dige stive tract. As part of the project, El.En.’s task is to develop a robotic system for conveying and delivering the las er beam to the target area. During the first six months of 2026, El.En. c ontinued fine-tuning a CO 2 laser micromanipulator system with innovative features and developing and implementing the system's control and management software. The developed system has very compact dimensions and facilitates the operations of the surgeon performing the proced ure.

Laser systems and applications for industry and res toration

El.En. technology-development activities and update s to the product range are continuing, with the aim of meeting the needs of increasingly advanced and specialised indu strial applications. In the field of medium-power s ealed CO₂ laser sources (‘Self-Refilling’), use of the 1,5 kW sourc e in die-board production applications was further consolidated in close cooperation with Cutlite Penta. At the same time, d esign and development activities continued for a ne w higher-class 2 kW source, currently under construction.

Research also continued on sealed CO₂ laser sources (‘Sealed-Off’), with the aim of increasing the ava ilable power and expanding the number of usable wavelengths. To comp lete the existing range, the new RF505 and RF606 mo dels have joined the RF303 and RF404 models, offering superio r performance and intended for industrial applicati ons requiring higher energy levels.

In the field of galvanometric scanning systems, res earch and development focused both on improving lon g-term performance and reliability and on simplifying the integration of marking technologies into industrial plants. In this context, a new integrated marking kit was developed , consisting of a two-axis scanning head, a fibre l aser source and dedicated software, designed to enable rapid instal lation and commissioning on machinery and productio n lines.

Development activities also continued on control pl atforms and software solutions dedicated to laser-m arking systems.

The commitment to research and development continue s every day, with the aim of offering complete, cus tomised solutions that combine laser sources, scanning syst ems and application software according to the custo mer's specific requirements. This approach makes it possible to cr eate highly specialised configurations suited to th e various relevant industrial sectors.

With regard to applications for the conservation of cultural heritage and laser-cleaning technologies, the research and development team introduced new laser sources offer ing improved performance and greater adaptability t o the operating conditions typical of restoration sites. Particular attention was paid to the study of tempo ral pulse-modulation techniques, which extend the technology's potential applications both in restoration and in new indust rial applications.

Still within the industrial sector, particularly ma rking systems, Ot-las and Lasit carried out research and development activities during the period on new products and ap plications, working on opportunities offered by new techniques and technologies in the field of optics and laser sourc es.

29 The following table lists the expenses attributable to Research and Development in the period:

Thousands of euros 30/06/2026 30/06/2025 Staff costs and general expenses 6.715 7.733 Equipment 11 163 Costs for testing and prototypes 1.927 969 Consultancy fees 849 298 Other services 28 25 Total 9.530 9.188

R&D costs related to cutting division of Cutlite Penta 767 722

Total R&D costs 10.297 9.910

Separate disclosure is provided for the R&D expense s incurred by the subsidiary Cutlite Penta SpA, who se contribution to the income-statement items is summarised in the single line item for the result from discontinued o perations.

As per consolidated company practice, the expenses listed in the table have for the most part been rec orded under operating costs in the absence of a reasonable esti mate of the return on the investment.

The amount of the expenses incurred corresponds to approximately 4% of the group’s consolidated revenu e. The expenses incurred by El.En. S.p.A. are also equal t o approximately 4% of its revenues.

30 1.11 Risk factors and procedures for the management of f inancial risks

The main risk elements to which the Parent Company and its subsidiaries (the Group) are exposed are de scribed below, identifiable by type: operational and financial.

Risk associated with the improper use of machinery Fully aware of the potential risk arising from the particular nature of the group's products, it works from the research and design stage in pursuit of the safety and quali ty of the product placed on the market. Marginal ri sks remain for losses from misuse of the product by the end user a nd/or from prejudicial events not covered by the in surance policies taken out by group companies.

Risks related to possible supply difficulties and r ising raw material prices The Group purchases components for its products fro m third-party suppliers. Product assembly operation s may be interrupted or otherwise affected by delays in the supply of such parts and components by suppliers. T hese operations may also be interrupted if certain parts or compone nts become subject to shortages , become unavailable, or become available only under unreasonable conditions. In su ch cases, the Group could be forced to incur increa sed costs and/or production delays.

These factors could have a negative impact on the C ompany's business, prospects, and financial results .

Moreover, production costs are exposed to the risk of fluctuating raw material prices. Should the Grou p be unable to pass on any such increases to sales prices, its eco nomic and financial situation would be affected.

Risks associated with the operation of industrial p lants The Group's industrial plants are subject to operat ional risks, including, but not limited to, plant b reakdowns, failure to comply with applicable regulations, revocation of p ermits and licences, labour shortages, natural disa sters, sabotage, attacks or significant interruptions in the supply of raw materials or components. Any interruption of the production activities could have a negative impact on the grou p's business and economic, equity and financial pos ition.

Insurable operational risks related to industrial p lants are managed through specific policies divided among the various plants according to their relative importance.

Risks related to international operations As the group operates internationally, it is expose d to the risks associated with a high degree of int ernationalisation, such as exposure to local economic and political co nditions, compliance with different tax regimes, th e creation of customs barriers or, more generally, the introducti on of laws or regulations that are more restrictive than the current ones. All these factors can have a negative influen ce on the Group's economic, financial and equity po sition.

Global economy is facing moderate growth. Central b anks, such as the Federal Reserve and the European Central Bank, are adopting monetary policies in search of a delic ate balance between managing inflation and promotin g growth.

With regard to the drastic increase in tariffs impo sed by the United States of America on imports from all countries worldwide, as discussed above, despite the signific ant share of revenue generated in the USA, the impa ct of the US tariffs on the Group's financial performance has no t been, and is not expected to be, particularly sig nificant, given the geographical diversification of the Group's revenue .

Risk of loss of key resources and know-how The risk is related to the significant dependence t hat the group may have on certain managers who, to date, are currently considered as strategic resources, as the y are considered not easily and promptly replaceabl e, either internally or externally. The departure of such key personnel could result in the loss of business opportunities, lower revenues, higher costs, or harm to the company's image. The r isk of dependence on key resources is also related to the potential loss of “technical know-how”, referring to the poss ibility of reducing and losing, over time, the skil ls and expertise needed for operational management.

IT security, data management and dissemination risk s Information Technology (IT) is today one of the mai n enablers for achieving corporate business objecti ves. The IT risk is therefore related to the significant degree of depe ndence of Group companies, and their related operat ional processes, on the IT component. Specifically, this means the r isk of suffering economic, reputational and market share loss resulting from the possibility that a given threat, whether a ccidental or intentional in nature, exploits a vuln erability both implicit in the technology itself and arising from the autom ation of corporate business processes, causing an e vent capable of

31 compromising the security of corporate information assets in terms of confidentiality, integrity and a vailability. The Group has developed operational policies and techni cal security measures to ensure adequate protection of corporate data and information.

Market and regulatory risk We expect that any competitive advantage we might e njoy from our current and future innovations may di minish over time as companies successfully respond to our innov ations or create their own. Consequently, our succe ss depends on developing new and innovative applications of laser s and other technologies and identifying new market s and applications of existing products to new customers and technologies. This requires us to design, devel op, produce, test, market and support new products or product improvem ents and also requires continuous and substantial i nvestment in research and development. We may not be able to respond effectively to emerging technological chang es and industry standards, or to successfully identify, de velop or support new technologies or improvements t o existing products in a timely and cost-effective manner. Dur ing the research and development process, we may en counter obstacles that may delay development and consequent ly increase our expenses, which may eventually forc e us to abandon a potential product in which we have alread y invested considerable time and resources. Technol ogies under development may turn out to be more complex than in itially anticipated or not scientifically or commer cially viable. For systems in the medical sector, even if we develop n ew products and technologies before our competitors , we may not be able to obtain the necessary marketing authorisa tions for such products, even from public bodies su ch as the US Food and Drug Administration, other regulatory agen cies and foreign notified bodies, in a timely and c ost-effective manner or at all. In addition, our competitors may obtain sales authorisations for further indications for the use of their products that our products do not have or that we m ay not be able to obtain.

Sustainability risks

Highlights on double materiality

In line with the priorities defined by the European Securities and Markets Authority (ESMA) in 2025 an d continuing the path undertaken in previous years, the El.En. Group has detected and identified possible environmental risk factors and monitors the ongoing evolution of the national and international regulatory framework.

It should be noted that the El.En. Group carried ou t a double materiality analysis to identify signifi cant impacts, risks, and opportunities, assessing both the Group's impac t on the environment and society (impact materialit y) and the influence of ESG factors on the company's performan ce (financial materiality).

As part of the double-materiality assessment, the G roup also identified the full set of climate risks, both material and non-material, outlining transition risks and physic al risks (acute and chronic).

For transition risks—i.e. the economic, financial a nd operational risks arising from the transition to wards a more sustainable, low-carbon economy identified by the G roup - the universe of identified risks refers to r isks related to the possible introduction of new environmental standard s and regulations, market expectations with respect to the use of low-environmental impact energy sources, and the va riability of energy prices on the market. Furthermo re, the universe of identified risks also refers to risks connected to difficulties in adapting products from an innova tive perspective, and variability in customer demands increasingly orient ed towards environmentally friendly products/services.

In the area of physical risks – i.e., risks arising from progressively changing weather conditions and extreme meteorological events - the universe of identified risks refers to risks related to the Group's exposu re to damage to infrastructure, potential disruptions of essential supplies and potential contraction of production ca pacity. Furthermore, the universe of identified risks also refers to pos sible disruptions in electricity networks deriving from extreme climate phenomena—which could be followed by interruptions or reductions in the production activities of the G roup or third parties—and to the increase in energy supply costs connected to higher thermal or electrical consumpti on.

The risks related to climate change

Within the identified risk universe, the climate-ch ange risks that emerged as significant for the Grou p are physical risks related to the increase in extreme weather events ( floods, inundations, landslides and cloudbursts), w hich could result in a reduction or interruption of operations or dam age to the infrastructure of the Group or its opera ting partners, with a consequent possible interruption of operations. S uch events could lead to an overloading of power gr ids and blackouts with a decrease in productivity of offices and esta blishments, as well as possible damage to infrastru cture due to the sudden power outage, with consequent possible busin ess interruption. To mitigate these risks, the Pare nt Company and

32 its Italian subsidiaries have taken out an insuranc e policy that guarantees coverage for direct damage s resulting from extreme weather events such as hurricanes, storms, tempests, wind, hail, floods and earthquakes.

Currently, these risks are considered material in t he medium-long term within the double materiality a nalysis.

Therefore, no significant impacts on accounting est imates are recorded for this fiscal year . The analyses carried out will be updated annually, including those on expected fi nancial effects, taking into account that, as provi ded for by the “Quick fix” delegated act, the current financial ye ar benefits from the phase-in allowing such information not to be reported pending the forthcoming applicable regulat ory requirements, as well as any further detailed c onsiderations arising from those analyses that could affect the a ssumptions underlying the assessment of accounting estimates. In view of this assessment, to date the Group has not planned any significant changes in its business mod el and strategy.

Currently, the Group has not adopted a climate tran sition plan as this requires a full understanding o f emissions along the entire value chain. In the previous financial y ear, the Group continued to improve its reporting o f indirect emissions, with the aim of understanding which actions are mos t effective and/or most feasible. This activity wil l allow for a more accurate assessment of the initiatives to be implem ented and the objectives to be defined within the t ransition plan.

This choice will enable us to take targeted and eff ective measures, promoting convergence between busi ness strategy and decarbonisation goals in a responsible and real istic manner.

The group will continue to monitor this exposure by specifically assessing the impact on production co sts related to the introduction of emission reduction regulations and, if there is a significant impact, the group will i nclude these assumptions in its estimates.

Other sustainability risks

Among the sustainability risks, the Group identifie d as significant a risk related to failure to monit or product anomalies or shortcomings in the related monitoring processes , with possible repercussions on perceptions of the quality, safety and innovation of our products. The Group assiduous ly monitors the risks related to the quality and sa fety of its products and implements numerous actions to minimise this ri sk by adopting a highly structured quality manageme nt system based on rigorous internal and external controls. Q uality departments carry out constant checks throug hout the production chain, through internal audits, supplier inspections, and in-depth testing on every product before final release. The quality management system is certified to the highest international standards, and our co mpanies undergo regular audits to renew their certifications, which are indispensable for operating in international m arkets. To mitigate the risk also from a financial point of view, the P arent Company and its Italian and European subsidia ries have taken out a product liability insurance policy, which covers any claims for damages arising from the use of its products by consumers or other people.

Currently, the risk related to the lack of processe s for monitoring product anomalies, with potential repercussions on product quality, safety and innovation, is consider ed to be significant in the medium to long term. Th erefore, no significant impacts on accounting estimates are rec orded for this fiscal year .

In view of this assessment, to date the Group has n ot envisaged any significant changes in its busines s model and corporate strategy (for further details please refe r to Chapter SBM-3 Significant Impacts, Risks and O pportunities and their Interaction with the Strategy and Business Mo del of Sustainability Reporting).

For the sake of completeness, a risk of medium rele vance is also reported regarding the difficulty of sourcing raw materials useful for the creation of finished produ cts planned by the Group, which can be determined b oth by the scarce availability of resources (supply lower than demand ) and by political or economic unrest, such as inte rnational conflicts, which create disruptions or changes along the entir e supply chain. This could cause delays or blockage s in supplies, a decrease in the quality of supplies and lead to a r eduction or loss of revenues and an increase in pro curement costs.

33 Financial risk management procedures The group's main financial instruments include curr ent accounts and short-term deposits, short-term an d long-term financial liabilities, finance leases, securities a nd hedging derivatives.

The group also has accounts receivable and accounts payable arising from its operations.

The main financial risks the Group is exposed to co ncern exchange rate, credit, liquidity and interest rate.

Exchange rate risk The Group is exposed to the risk of fluctuations in the exchange rates of the currencies in which some commercial and financial transactions are carried out. Said risks are monitored by management who implement the neces sary measures to limit the risk.

Since the Parent Company prepares its consolidated financial statements in euros, fluctuations in the exchange rates used to convert the financial statement data of sub sidiaries originally expressed in foreign currencie s could adversely affect the group's results, consolidated financial position and consolidated shareholders' equity as e xpressed in euros in the group's consolidated financial statements.

The parent company El.En. SpA entered into forward contracts during 2026 to partially hedge exchange-r ate risk on cash held in foreign currencies.

Operation Notional value Fair value Currency rate swap $12.000.000 -€ 84.708 Total $12.000.000 -€ 84.708

Credit risk

As far as business transactions are concerned, the group operates with counterparties who are subject to prior credit and background checks. Furthermore, the balance of receivables is monitored during the financial year so that the amount of loss exposure is not significant. Histori cally, credit losses have therefore been limited as a percentage of revenue and have not been significant enough to req uire dedicated coverage and/or insurance. There are no significant concentrations of credit risk within the group. The provision for bad debts accrued at the end of the period represents 6% of total accounts receivable from third parties. For an analysis of overdue receivables from third parties, please refer to the relevant note in the Consolidated Financial Statements.

Concerning guarantees given to third parties:

El.En. S.p.A. in July 2021 issued a guarantee in favour of Cutlite Penta S.r.l. (now S.p.A.) on t he EUR 11 million loan granted by Intesa San Paolo.

During the 2025 financial year, in connection with the agreement signed for the disposal of the invest ment in PLZ, Ot-

las S.r.l. provided a guarantee in relation to cert ain findings arising from the due-diligence process conducted by YOFC, with a maximum indemnity limit of up to 10% of the price paid, and without an indemnity cap for certai n specific circumstances that could give rise to indemnificati on. Furthermore, the parent company El.En. SpA also provided a second-level guarantee, should the guarantee provid ed by Ot-las become operative and Ot-las be found t o be in default.

The subsidiary ASA S.r.l. signed a loan agreement t o finance the construction of the new establishment by taking out a mortgage for a total value of EUR 4,8 million.

The German subsidiary Asclepion signed a loan agree ment during 2018 to finance the construction of the new factory, taking out a mortgage for a total value of 4 millio n euros.

The German subsidiary Lasit Laser Deutschland recei ved various bank guarantees totalling EUR 45 thousa nd for the purchase of company vehicles and down payments rece ived from customers.

34 Liquidity and interest rate risk With regard to the group's exposure to liquidity an d interest rate risk, it should be noted that the g roup's liquidity is still high, sufficient to cover existing indebtedness and with a largely positive net financial position. Th at is why said risks are deemed to be adequately covered.

In 2026 the subsidiary Cutlite Penta SpA entered in to a forward contract to partially hedge the intere st rate risk on a loan.

Operation Notional value Fair value Interest rate swap €2.500.000 -€ 8.599 Total €2.500.000 -€ 8.599

Capital management

The objective of the company's capital management i s to ensure that a low level of indebtedness is mai ntained and that a proper capital structure is in place to support t he business and ensure an adequate Equity/Indebtedn ess ratio.

35 1.12 Corporate governance structure

Pursuant to Art.19 of the Articles of Association, the parent company is managed by a Board of Directo rs consisting of a minimum of three and a maximum of fifteen members . The current number of members was set at seven by the Shareholders' Meeting of 29 April 2024, called to d eliberate on the renewal of the Board of Directors (which will remain in office until the approval of the financial state ments for the year ending 31 December 2026).

As of 30 June 2026, the Board of Directors is compo sed as follows:

NAME POSITION PLACE AND DATE OF BIRTH

Gabriele Clementi Chairman and Managing Director Incisa Valdarno (FI), 8 July 1951 Andrea Cangioli Managing Director Firenze, 30 Decem ber 1965 Fabia Romagnoli (*) Board Member Prato, 14 July 1963 Giovanna D’Esposito (*) Board Member Vico Equense (NA), 22 October 1969 Michele Legnaioli (*) Board Member Firenze, 19 December 1964 Roberta Pecci Board Member Firenze, 14 February 197 2 Alberto Pecci Board Member Pistoia, 18 September 19 43 (*) Independent Directors, pursuant to Art. 148, pa ragraph 3, of It. Legislative Decree no. 58/1998 an d Art. 2 of the Corporate Governance Code 2020 (former Art. 3 of the Self-Regulation Code of Listed Compa nies 2018)

The members of the Board of Directors are domiciled for the purposes of their office at the registered office of El.En.

S.p.A. in Calenzano (FI), Via Baldanzese no. 17.

On 29 April 2024, the Board of Directors appointed the Chairman, Gabriele Clementi, engineer, and the Director Andrea Cangioli, engineer, as Managing Directors, assignin g them, separately and with individual signing auth ority, all the powers of ordinary and extraordinary administration for the performance of any activity falling within the corporate purpose, with the exception of the powers subject t o prohibition of delegation pursuant to the law and the Articles of Association.

In accordance with the provisions of the current Co rporate Governance Code 2020 (and the previous Self -Regulation Code of Listed Companies 2018):

a) as of 31 August 2000, the Board of Directors includ es among its members at least two independent direc tors pursuant to art. 2 of the Corporate Governance Code ( formerly art. 3 of the Self-Regulation Code). There are currently three of them: Fabia Romagnoli; Giovanna D’Esposito, engineer; and Michele Legnaioli;

b) as of 5 September 2000, the Board of Directors has established the following committees, composed, for the most part, of non-executive directors:

1. ‘Committee for Proposals for Appointment to the Off ice of Director’, which is assigned the duties set out in Article 4, Recommendation 19 of the 2020 Corporate Governance Code ( formerly Article 5 of the 2018 Corporate Governance Code);

2. ‘ Remuneration Committee ’, which is assigned the duties set out in Article 5, Recommendation 25 of the 2020 Corporate Governance Code ( formerly Article 6 of the 2018 Corporate Governance Code);

3. ‘ Control and Risk Committee for Related-Party Transa ctions and Sustainability ’ (formerly the ‘Internal Control Committee’), which is assigned the duties set out i n Article 6, Recommendation 32 of the 2020 Corporat e Governance Code (formerly Article 7 of the 2018 Cor porate Governance Code), as well as the duties aris ing from the CONSOB Related Parties Regulation concerni ng related-party transactions; also with regard to the so-

called sustainability pursuant to It. Legislative D ecree 254/2016, the Control and Risk Committee is t asked with assisting the Board of Directors in a preparatory a nd advisory capacity on its assessments and decisio ns regarding sustainability matters related to busines s activities and stakeholder interaction, Corporate Social Responsibility (CSR), the analysis of scenarios for the strategic plan, and the corporate governance of the company and the group.

c) Since 2000, the Board of Directors has also designa ted individuals responsible for verifying that the internal control and risk management system is functional an d adequate.

The Board also meets at least quarterly to ensure t hat the Board of Statutory Auditors is adequately i nformed on the activities carried out, on the most significant tra nsactions carried out by the Issuer and its subsidi aries, as well as, where necessary, on the execution of transactions with re lated parties or of particular complexity and/or im portance, and,

36 lastly, whenever the Chairman and/or the managing d irectors intend to share with the entire Board issu es and decisions within their competence.

Internal control within the group, where relevant t o it, is carried out by the parent company, also in collaboration with the staff of the subsidiaries.

From an organisational standpoint, the directors of the parent company also serve as members of the ad ministrative bodies of most subsidiary companies, or act as thei r sole administrator. In all other instances, the a dministrative body of the subsidiaries shall provide the most comprehe nsive information required for the organisational d efinition of the Group’s activities and the disclosures necessary to comply with legal obligations: the subsidiaries sh all provide, by the end of the month following the close of the relevan t quarter, all information required to prepare a co nsolidated economic and financial report .

1.13 Intergroup relations and with related parties

On the basis of the provisions of CONSOB Regulation of 12 March 201 0, no. 17221 and subsequent amendments, the parent company El.En. S.p.A. approved the “Regulati on governing related-party transactions” (“El.En. R PT Regulation”), the updated version of which is available on the Co mpany’s website, www.elengroup.com, under “Governance/Corporate Documents”. Following the sub sequent amendments described below, these regulatio ns constitute an update of those approved by the compa ny in 2007 in implementation of the provisions of A rt. 2391- bis of the It. Civil Code and the recommendations of the t hen-current Art. 9 (and specifically application cr iterion 9.C.1) of the Self-Regulatory Code for Listed Companies (March 20 06 edition), in light of the subsequent provisions of the aforementioned “Regulations for Transactions with R elated Parties” no. 17221 as amended and CONSOB Communication DEM/110078683 of 24 September 2010 an d that approved on 14 March 2019.

The RPT Regulation of El.En. S.p.A. was first updat ed and amended by the Board of Directors at its mee ting held on 30 June 2021, effective from 1 July 2021, following th e adoption by CONSOB on 10 December 2020 of Resolut ion no. 21624 issued in implementation of the regulatory delegati on contained in Art. 2391- bis of the It. Civil Code, as expanded by It.

Legislative Decree 49/2019 for the transposition of Directive (EU) 2017/828 – the so-called Shareholder Rights Directive 2 (“SHRD 2”) – amending Directive 2007/36/EC as rega rds the encouragement of long-term shareholder enga gement.

The Board proceeded to approve some additions to th e El.En. RPT Regulation in order to bring it in lin e with the new regulatory framework, taking into account that the Italian regulatory framework was already well devel oped with reference to the transposition of the European regu lations and that it was therefore a fine-tuning int ervention on internal procedures that El.En. had already adopted at the end of 2010. The changes were explained in the annual financial report for the financial statements endin g December 2021.

Subsequently, at the end of an evaluation process, the RPT Regulation of El.En. S.p.A. was updated and amended by the Board of Directors at its meeting held on 20 July 2 023 because the thresholds for classification as a “smaller company” under Article 3, paragraph 1, letter f), of CONSOB Regulation 17221/2010 had been exceeded.

The changes made related to:

a) the provision that, in the case of transactions of greater significance, the Committee for Transac tions with Related Parties shall be constituted and deliberate with the presence of three Independent and non-rel ated Board

members;

b) the provision for strengthened equivalent safeg uards in the case of transactions of major signific ance. This provision assigns the authority to issue the final opinion to the entire Board of Statutory Auditors, rather than solely to

its President;

c) reorganisation of the content with the separati on into two separate articles of the procedure for the issue and value of the prior opinion of the RPT Committee and its effects.

Although Article 2 of the Law of 5 March 2024, no. 21 changed the capitalisation threshold for qualify ing SMEs from EUR 500 million to EUR 1 billion and the company wa s included ex officio by CONSOB in the list of SMEs , the 20 July 2023 updates to the RPT Regulation remained unchang ed.

During the 2019 financial year, in relation to the acquisition—already described in the annual financi al report as at 31 December 2019—by the subsidiary Ot-las S.r.l. of th e minority stake in the Chinese companies Penta-Las er Equipment Wenzhou Co., Ltd (now Penta Laser (Zhejiang) Co., L td) and Penta-Chutian Laser Wuhan Co., Ltd (now Pen ta Laser (Wuhan) Co., Ltd), an information document was publ ished on a voluntary basis pursuant to Art. 5 of CO NSOB Related Party Regulation 17221/2010 and Art. 1.2. of the re gulations on transactions with related parties adop ted by the Company. The document is available on the Company's website www.elengroup.com sect. Governance/Corpora te documents.

Other transactions with related parties, including intercompany transactions, are neither atypical nor unusual. These transactions are settled at ordinary market conditi ons.

37 Concerning transactions with related parties, pleas e see the relevant explanatory notes included in th e consolidated financial statements of El.En. Group.

1.14 Atypical and unusual transactions

Pursuant to CONSOB Communication of 28 July 2006 no . DEM/6064293, please note that, in the first six m onths of 2026, the group did not engage in any atypical and/or unu sual transactions, as defined in said Communication itself.

1.15 Opt-out regime

It should be noted that, on 3 October 2012, the Boa rd of Directors of El.En. S.p.A. decided to join th e opt-out regime envisaged respectively by Articles 70, paragraph 8 and 71, paragraph 1- bis of CONSOB Issuers' Regulation 11971/99, availing itself of the right to derogate from the o bligations to publish the required information docu ments in the event of significant extraordinary transactions involving mergers, demergers, capital increases through cont ributions in kind, acquisitions and divestments.

1.16 Significant events in the first half of 2026

On 1 April 2026, the first exercise window opened f or the options assigned by the Board of Directors o f El.En. S.p.A., through resolutions of 15 March 2023 and 13 March 2 026 implementing the Stock Option Plan 2026-2031 re served for Directors, collaborators and employees of the Compa ny and its subsidiaries, approved by the Shareholde rs' Meeting of 15 December 2022 and described in the information d ocument prepared pursuant to Article 84-bis, paragr aph 1, and Schedule 7 of Annex 3A to CONSOB Issuers' Regulatio n no. 11971/1999, which has remained available to t he public since then and until the expiry of the plan at the registered office in Calenzano, at Borsa Italiana S .p.A., on the Company's website www.elengroup.com under ‘Governance / Corpo rate Documents / Stock Option Plan 2026-2031’ and o n the authorised storage website www.emarketstorage.com.

On 29 April, the Ordinary Shareholders' Meeting of the parent company approved the financial statement s for the year 2025, which showed a net income of EUR 32.845.728,0 0, and also resolved:

- to distribute to the shares outstanding as of the ex-dividend date for coupon no. 5 on 25 May 2026 - pursuant to Art.

2357-ter, paragraph 2 of the It. Civil Code - a div idend, equal to EUR 0,25 gross per outstanding shar e for a total amount as of the date of the resolution of EUR 20.035.692, 00, it being understood that said amount could be i ncreased by any new amounts that may be required for the distributi on of the dividend to the shares outstanding as of the ex-dividend date resulting from the exercise of the 2026-2031 s tock option plan in the period between the date of the resolution and the record date of 26 May 2026;

- to accrue the residual amount equal, as of the da te of the resolution, to EUR 12.810.036,00 to the e xtraordinary reserve, it being understood that this amount could be decreased by any new amounts required for the d istribution of the dividend from the shares outstanding as of the ex-dividend date resulting from the exercise of the 2026-2031 stock option plan in the period between the date of the r esolution and the record date of 26 May 2026;

- to pay the above dividend from 27 May 2026.

The Ordinary Shareholders' Meeting also:

- approved the report on Remuneration and compensat ion paid, in accordance with Art. 123-ter of the TU F paragraph 3-bis and Art. 123-ter of the TUF paragraph 6.

- resolved, after revoking the unused portion of th e authorisation already granted by the same shareho lders’ meeting on 29 April 2025, to authorise the purchase and dis posal of treasury stock pursuant to Articles 2357 a nd 2357-ter of the It. Civil Code, Art. 132 of It. Decree Law no. 58 a nd Art. 144-bis of the CONSOB regulation.

The main purpose of this authorisation is providing the Company with the necessary shares for the purp oses of proceeding with allocations or distributions or pay ments in kind to employees and/or collaborators and /or members of the company's or subsidiaries’ administrative bodie s under incentive remuneration plans in accordance with the remuneration policy approved by the company's share holders' meeting. Secondly, treasury stock could, w here necessary, serve as an effective instrument for the swap or exchange of equity investments within stra tegic transactions.

The authorisation was granted for a period of 18 mo nths from the date of the resolution, for the purch ase, in one or more instalments, of a maximum number of ordinary s hares of the company, the only category of financia l instruments

38 currently issued, which in any case does not exceed one-tenth of the share capital. Purchases of treas ury stock must be made in compliance with the criterion of equal trea tment of shareholders in accordance with Art. 132 o f the T.U.F. and Art. 144-bis of the Issuers' Regulation. The shareh olders are authorised to purchase at a price that i s at the minimum no lower than the closing price of the share record ed in the stock exchange session on the day precedi ng the completion of each individual transaction, minus 10%, and at t he maximum no higher than 10% of the official tradi ng price recorded on the day preceding the purchase.

The Board was granted authorisation to sell or disp ose of, within 10 years of the resolution, the purc hased shares at a price, or counter-value in the case of corporate tr ansactions, of no less than 95% of the average of t he official trading prices recorded in the five days preceding the sale or disposition.

The extraordinary Shareholders’ Meeting finally res olved:

- the amendment to Art. 6 (Share Capital) following the expiration on 31 December 2025 of the subscrip tion deadline for the divisible capital increase approved pursuan t to Art. 2443 of the It. Civil Code by the Board o f Directors on 13 September 2016 in service of the 2016-2025 incentiv e plan aimed at directors and employees of El.En. S .p.A. and companies controlled by it;

- to supplement Art. 14 (Attendance at Shareholders ' Meetings) to provide for the possibility of atten ding meetings and exercising voting rights via telecommunication mean s, in cases where the meeting is held exclusively t hrough the representative designated by the company pursuant t o Article 135-undecies of Italian Legislative Decre e of 24 February 1998 no. 58.

Also on 29 April 2026, the extraordinary shareholde rs' meetings of HL S.r.l. and Cutlite Penta S.p.A. approved the merger plan for the incorporation of HL into Cutlite Penta . The transaction is expected to be completed with execution of the merger deed in the second half of 2026.

On 30 April 2026, Paolo Salvadeo, engineer, General Manager of El.En. spa, electronically submitted hi s resignation to the company, giving notice that his employment woul d end on 21 July 2026.

For changes to the scope of consolidation that occu rred during the half-year, please refer to the rele vant paragraph in the notes to the financial statements.

1.17 Subsequent events

On 21 July 2026, the employment relationship betwee n the parent company El.En. S.p.A. and Eng. Paolo S alvadeo, the Company's General Manager, came to an end. The term ination followed the resignation submitted by Eng. Salvadeo on 30 April 2026 and expiry of the relevant notice per iod. On the same date, the Company allocated 19.000 treasury shares to Eng. Salvadeo in accordance with the Stock Grant Plan 2025-2028, vested with reference to the 2025 financial year and subject to a four-year lock-up under the terms of the Plan. The allocation was made in accordance with the 2024-

2026 Remuneration Policy approved by the Shareholde rs' Meeting and published on the Company's website.

On 7 August 2026, Ot- las S.r.l., a wholly owned subsidiary of El.En. S.p .A., signed a binding agreement with the TRUMPF Group, through TRUMPF International Beteiligungs-SE , based in Ditzingen, Germany, for the disposal of an 80% interest in the share capital of a newly incorporated compan y wholly owned by Cutlite Penta S.p.A., to which th e business unit relating to the activities currently carried out by Cutlite Penta S.p.A. in the design and manufacture of high-performance laser systems for cutting materials, including meta l, plastic, wood and dies, will be contributed.

The transaction forms part of the process of enhanc ing and developing the Cutlite Penta business unit, with the aim of enabling it to benefit from the international posit ioning, sales and service network, and industrial e xpertise of TRUMPF, a German group operating worldwide and a leader in machine tools and lasers for industrial application s. El.En. believes that retaining a 20% interest will enable the Group to continue supporting the company's growth path w hile accompanying its development within a long-term ind ustrial partnership.

The agreement provides for TRUMPF initially to acqu ire an 80% interest in the share capital of the tra nsferee company, while the El.En. Group will retain a residual 20% i nterest for several years. The transaction structur e provides for Cutlite Penta S.p.A. to contribute the business unit concer ned to the newly incorporated company in advance, t ogether with the equity investments and assets specified in the final contractual documentation.

The maximum aggregate consideration for the disposa l of 80% of the share capital of the transferee com pany is approximately 21 million euros, payable in cash as provided for in the agreement: approximately 13 mil lion payable at

39 closing; the remainder to be determined on the basi s of the financial statements as at 31 December 202 9 and in accordance with the price-adjustment clauses.

The consideration was determined on the basis of th e value attributed to the business unit being sold, taking into account, inter alia, the available financial data, the transaction structure, the assets and equity in vestments to be contributed, and the outcome of the due-diligence p rocess conducted by the purchaser. The agreement pr ovides for price-adjustment mechanisms and specific representa tions, guarantees and indemnity obligations, with l imits, deductibles, thresholds and caps.

Shareholders' agreements are also envisaged concern ing the post-closing governance of the transferee c ompany and the rules governing the residual interest held by t he El.En. Group, including transfer restrictions an d further rights and obligations of the parties as agreed.

Completion of the transaction is subject, inter ali a, to fulfilment of the specific conditions precede nt set out in the agreement and completion of the procedure before th e Italian Presidency of the Council of Ministers pu rsuant to Italian Decree-Law of 15 March 2012, no. 21, as amended, co ncerning the Government's special powers, the so-ca lled Golden Power. The transaction also remains subject, where applicable, to obtaining any additional regulatory approvals required for its completion.

Closing is expected within six months of signing th e agreement, subject to the fulfilment or, where pe rmitted, waiver of the conditions precedent. The Company will inform t he market of completion of the transaction and any further material developments within the time limits and in the mann er prescribed by the applicable regulations.

Upon completion of the transaction, the transferee company being sold will no longer be fully consolid ated within the El.En. Group, in accordance with the applicable acc ounting standards.

As at 31 December 2025, under IFRS accounting stand ards the business unit being sold reported revenues of 121,7 million euros, EBIT of 1,9 million euros, net incom e of 14 thousand euros and a negative net financial position of 16,3 million euros. The expected disposal value may resu lt in a consolidated gross capital gain or capital loss, to be determined on the basis of the carrying amounts at the closing date, the effect of the price-adjustmen t mechanisms, the indemnity obligations, the differing book value of the equity investments and the applicable tax e ffects. Based on the business plans prepared for the activities bein g sold and their effect on the price-adjustment cla uses, an overall capital loss of approximately 4 million euros can c urrently be reasonably expected. The Group's net fi nancial position will be further strengthened by receipt of the disp osal consideration and deconsolidation of net finan cial liabilities of approximately 16 million euros.

1.18 Current outlook

The excellent results for the first half indicate a real possibility of fully achieving the annual gui dance, with growth of more than 5% and improved operating profitability. We confirm that these objectives can also be achiev ed with the Group's new perimeter following the disposal of the Laser Cutting business unit.

For the Board of Directors

The Managing Director Eng. Andrea Cangioli

EL.EN. GROUP

HALF-YEARLY CONDENSED CONSOLIDATED

FINANCIAL STATEMENTS

AS AT 30 JUNE 2026

41 Consolidated statement of financial position

Assets Note 30/06/2026 31/12/2025 Intangible assets 1 4.733.264 4.612.737 Tangible assets 2 68.814.846 83.903.704 Equity investments 3

- in associated companies 5.509.591 6.060.778

- other 138.267 1.059.162 Total Equity investments 5.647.858 7.119.940 Deferred tax assets 4 9.278.639 11.670.316 Other non -current assets 4

- third parties 11.343.038 11.365.547

- associated companies 86.449 93.433 Total Other non -current assets 11.429.487 11.458.980 Total non current assets 99.904.094 118.765.677 Inventories 5 136.351.700 157.263.598 Accounts receivable 6

- third parties 79.647.901 115.607.706

- associated companies 438.262 1.733.287 Total Accounts Receivable 80.086.163 117.340.993 Income tax receivables 7 1.878.909 2.444.206 Other receivables 7

- third parties 17.208.826 20.537.936

- associated companies 77.831 89.001 Total Other receivables 17.286.657 20.626.937 Securities and other current financial assets 8 58.928.697 37.080.000 Cash and cash equivalents 9 136.614.393 174.359.822 Total current assets 431.146.519 509.115.556

Assets held for sale 34 102.322.366 -

Total Assets 633.372.979 627.881.233

42

Liabilities Note 30/06/2026 31/12/2025 Share capital 10 2.614.220 2.612.498 Share premium reserve 11 49.384.331 48.648.823 Other reserves 12 155.014.516 141.426.378 Treasury stock 13 (2.524.118) (2.450.423) Retained earnings / (accumulated deficit) 14 189.582.884 178.498.326 Net income / (loss) 26.097.794 43.415.034 Group shareholders' equity 420.169.627 412.150.636 Minority interest 15.437.409 15.323.069 Total shareholders' equity 435.607.036 427.473.705 Severance indemnity fund 15 4.806.398 5.247.825 Deferred tax liabilities 1.572.418 2.935.126 Other provisions 16 7.872.180 8.724.537 Financial debts and liabilities 17

- third parties 5.407.077 17.304.417 Total Financial debts and liabilities 5.407.077 17.304.417 Other non current liabilities Accounts payable third parties - non current 332.680 1.113.644 Other payables - non current 17 468.705 689.387 Total Other non current liabilities 801.385 1.803.031 Total non current liabilities 20.459.458 36.014.936 Financial liabilities 18

- third parties 5.536.410 20.765.512 Total Financial liabilities 5.536.410 20.765.512 Accounts payable 19

- third parties 62.254.868 88.764.431

- associated companies 247.309 1.254.076 Total Accounts payable 62.502.177 90.018.507 Income tax payables 20 7.236.263 4.896.488 Other current payables 20

- third parties 36.997.233 48.476.293

- associated companies - 235.792 Total Other current payables 36.997.233 48.712.085 Total current liabilities 112.272.083 164.392.592 Liabilities directly associated with the assets hel d for sale 34 65.034.402 -

Total Liabilities and Shareholders' equity 633.372.979 627.881.233

43 Consolidated income statement

Income Statement Note 30/06/2026 30/06/2025(*)

Revenues 21

- third parties 245.952.109 225.328.286

- associated companies 502.107 574.726 Total Revenues 246.454.216 225.903.012 Other revenues and income 22

- third parties 1.923.748 2.662.323

- associated companies 4.911 2.248 Total Other revenues and income 1.928.659 2.664.571 Revenues and income from operating activity 248.382.875 228.567.583 Purchase of raw materials 23

- third parties 115.843.371 101.763.882

- associated companies 6.373 1.195 Total Purchase of raw materials 115.849.744 101.765.077 Changes in inventory of finished goods (6.000.761) (1.279.326) Change in inventory of raw material (8.257.395) (1.488.703) Direct services 24

- third parties 24.011.986 20.375.265 Total Direct services 24.011.986 20.375.265 Other operating services and charges 24

- third parties 26.796.584 26.487.468

- associated companies 100.037 75.634 Total Other operating services and charges 26.896.621 26.563.102 Staff cost 25 47.148.739 45.147.934 Depreciation, amortization and other accruals 26 5.297.929 5.926.291

EBIT 43.436.012 31.557.943

Financial charges 27

- third parties (424.191) (267.702) Total Financial charges (424.191) (267.702) Financial income 27

- third parties 1.805.821 1.619.586

- associated companies 1.004 5.909 Total Financial income 1.806.825 1.625.495 Exchange gain (loss) 27 331.657 (3.366.678) Share of profit of associated companies (872.814) (205.094) Other charges 28 (888.480) -

Other income 28 - -

Income (loss) before taxes 43.389.009 29.343.964 Income taxes 29 13.702.609 9.504.276 Result from Continuing operations 29.686.400 19.839.688 Income (loss) from Discontinued operations 34 (2.487.141) (2.568.003) Income (loss) before of minority interest 27.199.259 17.271.685 Income (loss) of minority interest 1.101.465 (660.019) Net income (loss) 26.097.794 17.931.704

Basic earnings per share 30 0,33 0,22 Diluted earnings per share 30 0,32 0,22 Basic earnings per share from continuing operations 30 0,37 0,25 Diluted earnings per share from continuing operatio ns 30 0,36 0,24

(*) The values for the 2025 financial year have bee n restated in accordance with the standard IFRS 5.

44 Consolidated statement of comprehensive income

Note 30/06/2026 30/06/25(*) Net income (loss) for the period (A) 27.199.259 17.271.685

Other comprehensive income/(loss) that will not be subsequently reclassified to income statement, net of tax effect s:

Measurement of defined-benefit plans (65.243) 46.611

Other comprehensive income/(loss) that will be subs equently reclassified to income statement, net of tax effects:

Cumulative translation adjustments 499.671 (4.156.851)

Unrealized gain (loss) on derivatives and other cha nges (5.011) 7.362

Total other comprehensive income/(loss), net of tax effects (B) 429.417 (4.102.878)

Total comprehensive income/(loss) (A)+(B) 27.628.676 13.168.807

Attributable to:

Shareholders of the Parent Company 26.538.436 14.865.726 Non-controlling interests 1.090.240 (1.696.919)

(*) The values for the 2025 financial year have bee n restated in accordance with the standard IFRS 5.

45 Consolidated Cash Flow Statement

Cash flow statement Note 30/06/2026 Related

parties 30/06/2025

(*) Related

parties

Operating activity

Income (loss) for the financial period 27.199.259 17.271.685 Amortisations and depreciations 26 4.715.794 4.143.472 Interest income 27 1.806.825 1.625.495 Interest Expense 27 (358.646) (171.380) Income tax paid (10.592.457) (7.726.519) Share of profit of associated companies 28 872.814 872.814 205.094 205.094 Write-downs for impairment losses 888.480 Stock Option Share payment loss 664.393 1.141.355 Severance indemnity 15 (242.214) 216.806 Provisions for risks and charges 16 905.713 303.068 Bad debt reserve 6 (243.911) 125.291 204.804 Deferred income tax assets 4 (933.384) (870.002) Deferred income tax liabilities 40.694 (81.596) Inventories 5 (14.034.698) (2.876.727) Accounts receivable 6 (6.473.858) 199.691 (2.394.516) 87.637 Tax receivables / payables 7-20 11.060.885 5.722.043 Other receivables 7 (2.533.909) (176) (3.493.735) (53) Accounts payable 19 5.171.528 700 (2.990.555) 14.996 Other payables 20 3.459.128 412 (379.079) 294 Other non - monetary variations from operating activity (953.798) (2.525.669) Cash flows from operating activities, discontinued operations 34 7.304.537 291.071 Cash flow generated by operating activity 27.723.175 7.615.115

Investing activity

Tangible assets 2 (5.091.993) (4.353.644) Intangible assets 1 (1.058.517) (213.680) Equity investments, securities and other financial assets 3-4-8 (21.919.533) (429.332) (8.742.901) 55.205 Financial receivables 4-7 (85.383) 6.484 20.760 Other non- monetary variations from investing activ ity (634.715) Cash flows from investing activities, discontinued operations 34 (155.308) (777.869) Cash flow generated by investing activity (28.310.734) (14.702.049)

Financing activity

Non current financial liabilities 17 (2.200.650) (1.545.916) 115.860 Current financial liabilities 18 589.392 (222.339) 14.187 Capital increase 10 1.008.072 18.334 (Purchase) Sale treasury shares 13 (73.695) (1.985.910) Dividends paid 31 (21.295.648) (18.616.270) Other non- monetary variations from financing activ ity 56.096 Cash flows from financing activities, discontinued operations 34 (3.227.850) 280.186 Cash flow generated by financing activity (25.200 .379) (22.015.819)

Change in translation adjustment on cash and cash e quivalents (2.960) (90.273) Net effect of assets and liabilities held for sale (3.921.379) 206.612 Increase/(decrease) in cash and cash equivalents (25.790.898) (29.193.026)

Cash and cash equivalents at the beginning of the f inancial period 174.359.822 177.053.864

Cash and cash equivalents reclassified among assets held for sale 8.033.152 21.177.898

Cash and cash equivalents at the end of the financi al period 136.614.393 126.889.552 (*) The values for the 2025 financial year have bee n restated in accordance with the standard IFRS 5.

Total cash and cash equivalents consist of the cash balance and the balance of deposits and bank accou nts.

46 Changes in the Consolidated Shareholders' Equity

Total shareholders' equity 31/12/2024 Net income

allocation Dividends

distributed Other

movements Comprehensive

income (loss) 30/06/2025

Share capital 2.603.962 2.649 2.606.611 Share premium reserve 47.822.126 256.521 48.078.647 Legal reserve 537.302 537.302 Treasury stock -78.999 -1.985.910 -2.064.909

Other reserves:

Extraordinary reserve 114.679.292 16.376.837 131.056.129 Special reserve for grants received 426.657 426.657 Cumulative translation adjustment -65.763 969.602 -3.110.184 -2.206.345 Other reserves 8.047.907 690.034 4.803 8.742.744 Retained earnings / (accumulated deficit) 159.434.807 35.236.457 -17.611.316 1.080.378 39.403 178.179.729 Net income / (loss) 51.613.294 -51.613.294 17.931.704 17.931.704 Total Group shareholders' equity 385.020.585 -17.611.316 1.013.274 14.865.726 383.288.269

Capital and reserve of minority interest 24.889.809 891.703 -1.004.954 -87.250 -1.036.900 23.652.408 Result of minority interest 891.703 -891.703 -660.019 -660.019 Total minority interests 25.781.512 -1.004.954 -87.250 -1.696.919 22.992.389

Total shareholders' equity 410.802.097 -18.616.270 926.024 13.168.807 406.280.658

Total shareholders' equity 31/12/2025 Net income

allocation Dividends

distributed Other

movements Comprehensive

income (loss) 30/06/2026

Share capital 2.612.498 1.722 2.614.220 Share premium reserve 48.648.823 735.508 49.384.331 Legal reserve 537.302 537.302 Treasury stock -2.450.423 -73.695 -2.524.118

Other reserves:

Extraordinary reserve 131.056.129 12.810.036 143.866.165 Special reserve for grants received 426.657 426.657 Cumulative translation adjustment -214.078 590 496.315 282.827 Other reserves 9.620.368 286.915 -5.718 9.901.565 Retained earnings / (accumulated deficit) 178.498.326 30.604.998 -20.035.696 565.211 -49.955 189.582.884 Net income / (loss) 43.415.034 -43.415.034 26.097.794 26.097.794 Total Group shareholders' equity 412.150.636 -20.035.696 1.516.251 26.538.436 420.169.627

Capital and reserve of minority interest 14.553.438 769.631 -1.259.952 284.052 -11.225 14.335.944 Result of minority interest 769.631 -769.631 1.101.465 1.101.465 Total minority interests 15.323.069 -1.259.952 284.052 1.090.240 15.437.409

Total shareholders' equity 427.473.705 -21.295.648 1.800.303 27.628.676 435.607.036

See notes 10 to 14 for details.

The amount entered in the “comprehensive income (lo ss)” column refers to:

- as for the cumulative translation adjustment, to th e variation in currency assets held by the group;

- as for other reserves and retained earnings (accumu lated deficit), to the " remeasurement ” of the severance indemnity fund for the portion relating to the subs idiaries and to the accounting of a hedging derivat ive by a subsidiary on interest expense on loans;

Please refer to the specific statement of comprehen sive income (loss) for more details.

47

EXPLANATORY NOTES

CORPORATE INFORMATION

The parent company El.En. S.p.A. is a joint stock c ompany incorporated and domiciled in Italy. The com pany's headquarters is in Calenzano (Florence), Via Baldan zese no. 17.

The ordinary shares are listed on Euronext STAR Mil an (“STAR”) managed by Borsa Italiana S.p.A.

This consolidated half-yearly financial statement a s at 30 June 2026 was examined and approved by the Board of Directors on 10 September 2026.

The financial statement is drawn up in euros, which is the presentation and functional currency of the parent company and many of its subsidiaries.

BASIS OF PREPARATION AND ACCOUNTING STANDARDS

BASIS OF PREPARATION

This consolidated condensed half-yearly financial s tatement has been prepared in summary form, in acco rdance with the provisions of IAS 34 – Interim Financial Report ing. This document therefore does not include all t he information required by the annual financial statement and must be read in conjunction with the consolidated finan cial statement prepared for the year ended 31 December 2025.

The Group has prepared its financial statement on t he assumption that the requirement of going concern is maintained.

The consolidated financial statement consists of:

• the consolidated Statement of Financial Position - The presentation of the consolidated statement of f inancial position is made through the separate disclosure of current and non-current assets and current and non -

current liabilities;

• the consolidated Income Statement - The consolidate d income statement shows items by nature, as it is considered the one that provides the most explanato ry information;

• the consolidated Statement of Comprehensive Income - The consolidated statement of comprehensive incom e includes items recognised directly in shareholders' equity when the IFRS allow it;

• the consolidated Cash Flow Statement - The consolid ated cash flow statement presents the cash flows fr om operating, investing and financing activities. Cash flows from operating activities are reported using the indirect method, whereby the income (loss) for the financial period is adjusted for the effects of transactions of a non-

cash nature, any deferrals or accruals of past or f uture operating cash receipts or payments, and reve nue items or expense associated with cash flows from investin g or financing activities;

• the Changes in the consolidated Shareholders' Equit y;

• and these Explanatory Notes.

The economic information is provided with reference to the first six months of 2026 and the first six months of 2025.

The financial information is instead provided with reference to 30 June 2026 and 31 December 2025.

EXPRESSION IN ACCORDANCE WITH THE IFRS

The half-yearly condensed consolidated financial st atement as at 30 June 2026, prepared on a consolida ted basis pursuant to Article 154- ter of Italian Legislative Decree of 24 February 1998, no. 58 (TUF) and subsequent amendments, was prepared in accordance with the International F inancial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and endorsed by the European Union. The IFR S also include all interpretative documents issued by the International Financial Reporting Interpretations Committee (IFRIC), formerly Standing Interpretations Committee (SIC).

On 7 August 2026, the subsidiary Ot-las S.r.l., who lly owned by El.En. S.p.A., signed a binding agreem ent with the TRUMPF Group for the disposal of an 80% interest in the share capital of a newly incorporated company wholly owned by Cutlite Penta S.p.A., to which the business unit relating to the activities currently carried out b y Cutlite Penta S.p.A.

48 in the design and manufacture of high-performance l aser systems for cutting materials, including metal , plastic, wood and dies, will be contributed. Closing is expected within six months of signing the agreement, subject , inter alia, to the fulfilment or, where permitted, waiver of the condi tions precedent.

Accordingly, as this is one of the Group's main bus iness lines, in view of this agreement the present financial statement presents the contribution of the industrial cutting division included in the disposal under assets, li abilities and the income-statement result from discontinued operations in accordance with IFRS 5. For 30 June 2025, adjus tments to comparative data were necessary only for the consol idated Income Statement and the consolidated cash f low statement, as required by paragraph 40 of IFRS 5.

IFRS ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRET ATIONS APPLIED SINCE 1/1/26

The accounting standards adopted for the preparatio n of the consolidated condensed half-yearly financi al statement are consistent with those used for the preparation of the consolidated financial statement as at 31 De cember 2025, except for the adoption of new standards and amendm ents effective 1 January 2026. The Group has not op ted for the early adoption of any new standards, interpretation s, or amendments that have been issued but are not yet effective.

Some amendments apply for the first time in 2026, b ut had no impact on the Group's half-yearly condens ed consolidated financial statement.

Classification and Measurement of Financial Instrum ents – Amendments to IFRS 9 and IFRS 7 In May 2024, the IASB issued Amendments to IFRS 9 a nd IFRS 7, Amendments to the Classification and Mea surement of Financial Instruments (the Amendments). The Amen dments include:

 clarifications on the requirements for the recognit ion and derecognition of financial assets and liabi lities. In particular, a financial liability is derecognised f rom the statement of financial position on the ‘set tlement date’, and an accounting-policy option is introduced—where cer tain conditions are met—to derecognise financial li abilities settled through an electronic payment system before the settlement date;

 additional guidance on how to assess contractual ca sh flows for financial assets with environmental, s ocial and governance (ESG) or similar characteristics;

 clarifications on what is meant by ‘non-recourse fe atures’ and the characteristics of contractually li nked

instruments;

 the introduction of disclosure requirements for fin ancial instruments with contingent features and add itional disclosure requirements for equity instruments clas sified at fair value through other comprehensive in come (OCI).

The amendments had no impact on the Group's interim financial statement.

Annual Improvements to IFRS Accounting Standards - Volume 11 In July 2024, the IASB issued nine narrow-scope amendments as part of its periodic review of IFRS Accounting Standards.

The amendments include clarifications, simplifications, correctio ns or changes intended to improve the consistency o f IFRS 1 First-time Adoption of International Financial Repo rting Standards , IFRS 7 Financial Instruments: Disclosures and the related Guidance on implementing IFRS 7, IFRS 9 Financial Instruments , IFRS 10 Consolidated Financial Statements and IAS 7 Statement of Cash Flows .

The amendments had no impact on the Group's interim financial statement.

Contracts Referencing Nature-dependent Electricity – Amendments to IFRS 9 and IFRS 7 In December 2024, the IASB issued Amendments to IFR S 9 and IFRS 7 - Contracts Referencing Nature-depen dent Electricity. The amendments apply exclusively to contracts referencing electri city from renewable sources and provide for the following:

 clarify the application of “own-use” requirements f or contracts within the scope;

 changes to the designation requirements for a hedge d item in a cash-flow hedging relationship for cont racts within the scope of application;

 introduce new disclosure requirements to enable inv estors to understand the effects of such contracts on a company's financial performance and cash flows.

The amendments had no impact on the Group's interim financial statement.

49

SCOPE OF CONSOLIDATION

SUBSIDIARIES

The El.En. Group's half-yearly condensed consolidat ed financial statement includes the financial state ments of the parent company and those of the Italian and foreign companies in which El.En. S.p.A. directly or indir ectly controls the majority of the votes exercisable at the ordinary s hareholders' meeting.

Control is achieved when the Group is exposed to or entitled to variable returns from its relationship with the investee and, at the same time, has the ability to affect th ose returns by exercising its power over that entit y. Specifically, the Group controls an investee if, and only if, the Gro up has:

• power over the investee (i.e. holds valid rights th at give it the current ability to direct the releva nt activities of

the investee);

• the exposure or rights to variable returns arising from the relationship with the investee;

• the ability to exert its power over the investee to affect the amount of its returns.

Generally, there is a presumption that a majority o f voting rights implies control. To support this pr esumption and when the Group holds less than a majority of the voting rights (or similar rights), the Group considers all relevant facts and circumstances to determine whether it controls the investee, including:

• Contractual agreements with other holders of voting rights;

• Voting rights and potential voting rights of the Gr oup.

The Group reconsiders whether or not it has control of an investee if facts and circumstances indicate that there have been changes in one or more of the three elements r elevant to the definition of control. Consolidation of a subsidiary begins when the Group obtains control and ceases wh en the Group loses control. The assets, liabilities , revenues and expenses of the subsidiary acquired or sold during the financial year are included in the consolidated financial statement from the date on which the Group obtains control un til the date on which the Group no longer exercises control over the company.

The profit (loss) for the year and each of the othe r components of the statement of comprehensive inco me are allocated to the shareholders of the parent company and the n on-controlling equity investments, even if this imp lies that the non-controlling equity investments have a negative balance. When necessary, appropriate adjustments ar e made to the financial statements of subsidiaries to ensure comp liance with the group's accounting standards. All a ssets and liabilities, shareholders' equity, revenues, expens es and intercompany cash flows related to transacti ons between group entities are eliminated completely upon consolidati on.

Changes in equity investments in a subsidiary that do not result in a loss of control are accounted fo r in the shareholders' equity.

If the Group loses control of a subsidiary, it must derecognise the related assets (including goodwill ), liabilities, minority interests and other shareholders' equity components , while any gain or loss is recognised in the incom e statement. Any retained shareholding must be recognised at fair va lue.

50 The following table summarises, for the subsidiarie s, information as at 30 June 2026 concerning their names, registered offices and the share capital held directly and ind irectly by the Group.

Company name Note Headquarters Currency Share capital Percentage held Consolidated

percentage

Direct Indirect Total

Parent company

El.En. S.p.A. Calenzano (ITA) EUR 2.614.220

Subsidiaries

Ot-Las S.r.l. Calenzano (ITA) EUR 154.621 100,00% 100,00% 100,00% Deka Mela S.r.l. Calenzano (ITA) EUR 40.560 85,00% 85,00% 85,00% Esthelogue S.r.l. 1 Calenzano (ITA) EUR 7.100.000 50,00% 50,00% 100,00% 100,00% Deka Sarl Vaux en Velin

(FRA) EUR 155.668 100,00% 100,00% 100,00%

Lasit S.p.A. Torre Annunziata

(ITA) EUR 1.154.000 70,00% 70,00% 70,00%

Quanta System S.p.A. Milano (ITA) EUR 1.500.000 100,00% 100,00% 100,00% Asclepion GmbH 2 Jena (GER) EUR 2.025.000 50,00% 50,00% 100,00% 100,00% ASA S.r.l. 3 Arcugnano (ITA) EUR 46.800 60,00% 60,00% 51,00% BRCT Inc. New York (USA) USD No par value 100,00% 100,00% 100,00% Cutlite do Brasil Ltda 4 Blumenau (BRA) BRL 2.000.000 98,27% 98,27% 98,27% Pharmonia S.r.l. Calenzano (ITA) EUR 50.000 100,00% 100,00% 100,00% Deka Japan Co., Ltd Tokyo (GIAP) JPY 10.000.000 55,00% 55,00% 55,00% Merit Due S.r.l. 5 Calenzano (ITA) EUR 13.000 100,00% 100,00% 100,00% Cutlite Penta S.p.A. 6 Calenzano (ITA) EUR 500.000 100,00% 100,00% 100,00% Galli Giovanni & C. S.r.l. 7 Cassano Magnago (ITA) EUR 31.200 70,00% 70,00% 70,00% Lasit Laser Polska 8 Tychy (POL) PLN 9.795 65,00% 65,00% 45,50% Lasit Laser Iberica, S.L. 9 Saragoza (SPA) EUR 3.100 65,00% 65,00% 45,50% Lasit Laser Deutschland GmbH 10 Immendingen

(GER) EUR 12.500 70,00% 70,00% 49,00%

HL S.r.l. 11 Calenzano (ITA) EUR 200.000 100,00% 100,00% 100,00% Lasit Laser Uk Ltd 12 Solihull (GB) GBP 10.000 70,00% 70,00% 49,00% Cutlite Penta USA, Inc. 13 Dover (USA) USD 75.000 100,00% 100,00% 100,00% Nexam S.r.l. 14 Prato (ITA) EUR 20.000 51,00% 51,00% 51,00% Cutlite Poland sp. z o.o 15 Breslavia (POL) PLN 215.000 100,00% 100,00% 100,00% Lasit Laser France Sas 16 Saint Cyr Au Mont d'Or (FR) EUR 20.000 60,00% 60,00% 42,00% Cutlite Penta Iberica SL 17 Sevilla (SPA) EUR 49.998 100,00% 100,00% 100,00% Cutlite Deutschland GmbH 18 Ludwigsburg

(GER) EUR 50.000 100,00% 100,00% 100,00%

Quanta System Inc. 19 Wilmington

North Carolina

(USA) USD 100.000

100,00% 100,00% 100,00%

(1) held by Elen SpA (50%) and Asclepion (50%) (2) held by Elen SpA (50%) and Quanta System SpA (5 0%) (3) held by Deka Mela Srl (60%) (4) held by Cutlite Penta SpA (98,27%) (5) held by Ot-las Srl (100%) (6) held by Ot-las Srl (100%) (7) held by Quanta System SpA (70%) (8) held by Lasit SpA (65%) (9) held by Lasit SpA (65%) (10) held by Lasit SpA (70%) (11) held by Cutlite Penta SpA (100%) (12) held by Lasit SpA (70%) (13) held by Cutlite Penta SpA (100%) (14) held by Cutlite Penta SpA (51%) (15) held by Cutlite Penta SpA (100%) (16) held by Lasit SpA (60%) (17) held by Cutlite Penta SpA (100%) (18) held by Cutlite Penta SpA (100%) (19) held by Quanta System SpA (100%)

51 Transactions carried out during the period

Compared with 31 December 2025, the scope of consol idation changed following the incorporation of Quan ta System Inc. by the subsidiary Quanta System SpA, which hol ds a 100% interest. The company is intended to serv e as the U.S.

distributor for Quanta laser systems for urological applications, and its operations actually began in April 2026.

ASSOCIATED COMPANIES

El.En. S.p.A. directly or indirectly holds equity i nvestments in some companies, without, however, exe rcising control over them. These companies are valued using the sha reholders' equity method.

Equity investments in associated companies are as f ollows:

Company name Note Headquarters Currency Share capital Percentage held Consolidated

percentage

Direct Indirect Total

Immobiliare Del.Co. S.r.l. Solbiate Olona

(ITA) EUR 24.000 30,00% 30,00% 30,00%

Elesta S.p.A. Calenzano (ITA) EUR 2.510.000 24,86% 24,86% 24,86% With Us Co., Ltd Tokyo (JAP) JPY 100.000.000 33,29% 33,29% 33,29% Penta Laser Zhejiang Co., Ltd Wenzhou

(CHINA) CNY 100.000.000 19,79% 19,79% 19,79%

Actis S.r.l. Calenzano (ITA) EUR 10.200 12,00% 12,00% 12,00%

Transactions carried out during the period

No significant changes were recorded during the per iod under review.

EQUITY INVESTMENTS IN OTHER COMPANIES

Compared with 31 December 2025, the change in equit y investments in other companies mainly related to the 100% impairment of the equity investment in Epica Intern ational Inc. operated by the parent company El.En. SpA.

52

STANDARDS OF CONSOLIDATION

The half-yearly condensed consolidated financial st atement includes the financial statements of El.En. S.p.A. and its subsidiaries as at 30 June 2026.

The Group's equity investments in associated compan ies and joint ventures are accounted for using the shareholders' equity method.

The financial statements used for consolidation are the financial statements of the individual compani es or their sub-

aggregations. These financial statements are approp riately reclassified and adjusted in order to bring them into line with the IFRS accounting standards and accounting p olicies used by the parent company.

Subsidiaries are consolidated on a line-by-line bas is from the date of acquisition and cease to be con solidated on the date control is transferred outside the Group; the economic results of subsidiaries are included in th e consolidated income statement.

In particular, the following consolidation criteria were applied to the consolidated companies:

• The assets and liabilities as well as the income an d expenses of the companies included in the consoli dation are reported in full.

• The book value of the equity investment in each sub sidiary is eliminated against the corresponding sha re of shareholders’ equity of each of them, including any adjustments to fair value at the acquisition date; the resulting difference is allocated to the specific a ssets of the acquired companies on the basis of the ir current values at the acquisition date and, for the residua l part, if the conditions exist, to the item "Goodw ill". In this case, these amounts are not amortised but are subje ct to impairment testing at least annually, and in any case whenever the need arises due to impairment. If the elimination of the equity investment results in a n egative difference, this is recognised in the income statem ent.

• The amount of the capital and reserves of the subsi diaries corresponding to minority interests is reco rded in a shareholders' equity item called "capital and reser ves of minority interests"; the portion of the cons olidated economic result corresponding to minority equity in vestments is recorded in the item "profit (loss) fo r the year pertaining to minority interests".

TRANSLATION OF CURRENCY ITEMS

The interim financial reporting packages of each co nsolidated company are prepared using the functiona l currency relative to the economic environment in which each company operates. In such financial reporting packa ges, all transactions in currencies other than the functiona l currency are recognised at the exchange rate prev ailing on the date of the transaction. Monetary assets and liabilities denominated in currencies other than the functiona l currency are subsequently adjusted at the exchange rate prevaili ng at the end of the reporting period.

NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED O PERATIONS

The Group classifies non-current assets and discont inued operations as held for sale if their book val ue will be recovered primarily through a sale transaction, rather than t hrough their continuing use. Such non-current asset s and discontinued operations, classified as held for sale, are valued at the lower of their book value and their fair va lue less costs to sell.

Selling costs are the additional costs directly att ributable to the sale, excluding financial charges and taxes.

The condition for classification as held for sale i s considered met only when the sale is highly proba ble and the asset or discontinued operation is available for immediate s ale in its current condition. The actions required to complete the sale should indicate that it is unlikely that signi ficant changes will occur to the sale or that the s ale will be cancelled.

Management must be committed to the sale, which sho uld be completed within one year from the date of c lassification.

Depreciation of property, plant and equipment and a mortisation of intangible assets ceases when they a re classified as available for sale.

Assets and liabilities classified as held for sale are presented separately under current items in the financial statement.

Assets held for sale are excluded from the operatin g income and are presented in the statement of prof it (loss) in a single line as Net profit/(loss) from assets held f or sale.

Cash flows from discontinued operations are include d in the consolidated cash flow statement and are p resented separately in Note 34.

53

CONSOLIDATION OF FINANCIAL STATEMENTS IN FOREIGN CU RRENCY

For the purposes of the consolidated condensed half -yearly financial statement, the results, assets an d liabilities are expressed in euro, which is the functional currency of the parent company El.En. S.p.A. For the purpos es of preparing the consolidated condensed half-yearly financial st atement, interim financial reporting packages with a functional currency other than the euro are translated into eu ros by applying to assets and liabilities, includin g goodwill and consolidation adjustments, the exchange rate in for ce at the end of the reporting period, to income st atement items the average exchange rates for the period that appr oximate the exchange rates in force at the date of the respective transactions, while shareholders' equity items are translated at historical exchange rates.

The related exchange rate differences are recognise d directly in shareholders' equity and are shown se parately in a special reserve therein. Exchange differences are r ecognised in the income statement when the subsidia ry is sold.

Upon the first-time adoption of IFRS, cumulative tr anslation differences generated by the consolidatio n of foreign companies with a functional currency other than the Euro were reclassified to the results of previous years, as allowed by IFRS 1; therefore, only cumulative translation d ifferences recognised after 1 January 2004 are incl uded in the determination of capital gains and capital losses a rising from their possible disposal.

For the conversion of the financial statements of s ubsidiaries and associated companies with currencie s other than the Euro, the exchange rates used are as follows:

30/06/2025 31/12/2025 30/06/2026 30/06/2026 Currency Average exchange rate Closing exchange rate Average exchange rate Closing exchange

rate

US dollar 1.09275 1.175 1.1666 1.1394 Pound sterling 0.84229 0.8726 0.8672 0.86178 Brazilian real 6.2913 6.4364 6.01268 5.9003 Yen 162.11952 184.09 184.45872 185.08 Chinese yuan 7.9238 8.2262 8.00731 7.7314 Zloty 4.23127 4.221 4.24225 4.2955

SEASONALITY

The markets in which the Group operates are not cha racterised by significant seasonality that could ca use an uneven flow of sales and operating costs in different mont hs, even though historically the last quarter of th e year is characterised by a higher sales volume, while the f irst quarter is the one with lower revenues.

USE OF ESTIMATES

The preparation of the consolidated condensed half- yearly Financial Statement, in application of the I FRS, requires the making of estimates and assumptions that affect the values of assets and liabilities in the financial statement and the disclosure of contingent assets and liabilities at the reporting date. Actual results may differ even significantly from the estimates made, given the natural uncertainty surro unding the assumptions and conditions on which the estimates are based. Estimates are used to record provisions for credit risks, inventory obsolescence, devaluation o f fixed assets and goodwill, and provisions for guarantees or disputes . Estimates and assumptions are reviewed periodical ly and the effects of any variation are reflected in the incom e statement.

Goodwill is tested for impairment at least annually to verify any loss in value.

54 The main valuation process and the key assumptions used in the process that may have a significant eff ect on the amounts recognised in the consolidated condensed ha lf-yearly Financial Statement or for which there is a risk that value adjustments to the book value of assets and liabili ties may arise in the year following the date of th e financial statement are summarised below.

• Bad debt reserve The bad debt reserve represents management's best e stimate of potential losses on the trade receivable s portfolio. The estimate is based on expected losses determined on the basis of historical losses for similar debts, t rends in past due debts, an assessment of credit quality and a projec tion of economic and market conditions. In particul ar, the Group uses a model to calculate ECLs (Expected Credit Losses) for accounts receivable. Provision rates are based on the Group's observed days overdue and historical default rates. Historical default rates are updated and changes i n estimates are analysed based also on reference scenarios. The ass essment of the correlation between historical defau lt rates, forecast economic conditions and ECLs represents a significa nt estimate. The estimate made by the Administrator s, although based on historical and market data, may be subject to changes in the competitive or market environmen t in which the Group operates.

• Reserve for inventory obsolescence The determination of the reserve for inventory writ e-down is a significant estimate by management and is based on assumptions developed to detect the phenomena of ob solescence, slow moving, and possible excess of inv entories with respect to the possibility of future use or sale, a s well as other conditions that may generate an exc ess of the book value with respect to the realisable value, also consider ing the rapid evolution of the technologies underly ing the Group's products. Stocks of slow-moving raw materials and f inished products are periodically analysed on the b asis of historical data and the possibility of their sale at lower val ues than normal market transactions. If these analy ses indicate a need to reduce the value of inventories, a specific writ e-down provision is recognised; the determination o f the reserve for inventory obsolescence is based on historical and m arket data; any changes in the reference scenarios and market trends may significantly alter the criteria used to determine the underlying estimates.

• Leases

The determination of the value of usage rights aris ing from lease agreements and the related financial liabilities is an estimate by management. The determination of the le ase term takes into account the expiry dates of the contract entered into as well as any renewal clauses that th e Group deems reasonably certain to be exercised. T he incremental borrowing rate is constructed by considering the ty pe of asset being leased, the jurisdiction in which it is acquired, and the currency in which the lease is denominated. Pos sible changes in reference scenarios and market tre nds may require revisiting the components described.

• Risk of losing law suits The Group recognises a liability for ongoing legal and tax disputes and litigation when it believes it is probable that a financial outlay will be incurred and when the amou nt of resulting losses can be reasonably estimated. Given the uncertainties inherent in the outcome of these proc eedings, it is difficult to predict with certainty the disbursement that will result from such disputes, and it is therefore possible that the value of funds for legal proceed ings may change as a result of future developments in ongoing proceeding s. The Group monitors the status of pending lawsuit s and proceedings and consults with its legal and tax adv isors.

• Goodwill

Goodwill is tested for impairment at least annually , even in the absence of facts and circumstances re quiring such a review.

The procedure for determining the recoverable amoun t of goodwill involves, in estimating the value in use, assumptions concerning the expected cash flows of the identifie d cash generating units (CGU), making reference to multi-year plans, the determination of an appropriate discount rate ( WACC) and long-term growth rate ( g-rate ). Possible changes in reference scenarios and market trends may require r evisiting the components described.

The values recorded in the consolidated condensed h alf-yearly Financial Statement passed the impairment test performed on 31 December 2025.

55 • Warranty reserve The warranty reserve is intended to cover potential warranty claims on products and is determined on t he basis of the Group's existing commercial agreements.

The warranty reserve is estimated on the basis of t he costs for spare parts and warranty service incur red during the period, adjusted for the sales volumes of the finan cial year and the average years of warranty granted , which vary depending on the sector.

• Deferred tax assets and liabilities Deferred taxes are recognised on temporary differen ces between statutory and tax values and on tax los s carry-

forwards. The administrators are required to make a discretionary assessment to determine the amount o f deferred taxes that may be accounted for, which are recognis ed to the extent that it is probable that there wil l be adequate future taxable profits against which temporary diff erences and tax losses can be utilised.

• Employee Benefits – Severance indemnity Actuarial valuation requires making assumptions abo ut discount rates, future salary increases, turnove r and mortality rates. Due to the long-term nature of these plans, these estimates are subject to a significant degree of uncertainty. All assumptions are reviewed annually.

• Fair value measurement The Group measures financial instruments at fair va lue at each financial statement end date.

Fair value is the price that would be received for the sale of an asset, or paid for the transfer of a liability, in a regular transaction between market participants at the meas urement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liabi lity takes place:

• in the main market of the asset or liability;

or • in the absence of a main market, in the most advant ageous market for the asset or liability.

The main or most advantageous market must be access ible to the Group.

The fair value of an asset or liability is measured by adopting the assumptions that market participan ts would use in pricing the asset or liability, assuming that they would act to satisfy their economic interest in the best way possible.

The Group uses measurement techniques that are appr opriate to the circumstances and for which sufficie nt data are available to measure fair value, maximising the use of relevant observable inputs and minimising the u se of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statement ar e categorised according to the fair value hierarchy, as described below:

• Level 1 - quoted prices (unadjusted) in active mark ets for identical assets or liabilities that the en tity can access at the measurement date;

• Level 2 – inputs other than quoted prices included in Level 1 that are directly or indirectly observab le for the asset or liability;

• Level 3 – measurement techniques for which the inpu t data are not observable for the asset or liabilit y.

The fair value measurement is classified entirely i n the same level of the fair value hierarchy in whi ch the lowest level input used for the measurement is classified.

For assets and liabilities recognised in the financ ial statement at fair value on a recurring basis, t he Group determines whether transfers between levels of the hierarchy h ave occurred by reviewing the categorisation (based on the lowest level input, which is significant to the fair value measurement in its entirety) at each financial sta tement closing.

At each financial statement closing, the Group anal yses changes in the values of assets and liabilitie s for which revaluation or restatement is required under Group accounting standards.

For the purposes of fair value disclosures, the Gro up determines classes of assets and liabilities bas ed on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as illus trated above.

• Discontinued operations IFRS 5 requires assets and liabilities held for sal e to be measured at the lower of their book value a nd fair value less costs to sell.

56

Sustainability risks

Highlights on double materiality

In line with the priorities defined by the European Securities and Markets Authority (ESMA) in 2025 an d continuing the path undertaken in previous years, the El.En. Group has detected and identified possible environmental risk factors and monitors the ongoing evolution of the national and international regulatory framework.

It should be noted that the El.En. Group carried ou t a double materiality analysis to identify signifi cant impacts, risks, and opportunities, assessing both the Group's impac t on the environment and society (impact materialit y) and the influence of ESG factors on the company's performan ce (financial materiality).

As part of the double-materiality assessment, the G roup also identified the full set of climate risks, both material and non-material, outlining transition risks and physic al risks (acute and chronic).

For transition risks—i.e. the economic, financial a nd operational risks arising from the transition to wards a more sustainable, low-carbon economy identified by the G roup - the universe of identified risks refers to r isks related to the possible introduction of new environmental standard s and regulations, market expectations with respect to the use of low-environmental impact energy sources, and the va riability of energy prices on the market. Furthermo re, the universe of identified risks also refers to risks connected to difficulties in adapting products from an innova tive perspective, and variability in customer demands increasingly orient ed towards environmentally friendly products/services.

In the area of physical risks – i.e., risks arising from progressively changing weather conditions and extreme meteorological events - the universe of identified risks refers to risks related to the Group's exposu re to damage to infrastructure, potential disruptions of essential supplies and potential contraction of production ca pacity. Furthermore, the universe of identified risks also refers to pos sible disruptions in electricity networks deriving from extreme climate phenomena—which could be followed by interruptions or reductions in the production activities of the G roup or third parties—and to the increase in energy supply costs connected to higher thermal or electrical consumpti on.

The risks related to climate change

Within the identified risk universe, the climate-ch ange risks that emerged as significant for the Grou p are physical risks related to the increase in extreme weather events ( floods, inundations, landslides and cloudbursts), w hich could result in a reduction or interruption of operations or dam age to the infrastructure of the Group or its opera ting partners, with a consequent possible interruption of operations. S uch events could lead to an overloading of power gr ids and blackouts with a decrease in productivity of offices and esta blishments, as well as possible damage to infrastru cture due to the sudden power outage, with consequent possible busin ess interruption. To mitigate these risks, the Pare nt Company and its Italian subsidiaries have taken out an insuranc e policy that guarantees coverage for direct damage s resulting from extreme weather events such as hurricanes, storms, tempests, wind, hail, floods and earthquakes.

Currently, these risks are considered material in t he medium-long term within the double materiality a nalysis.

Therefore, no significant impacts on accounting est imates are recorded for this fiscal year . The analyses carried out will be updated annually, including those on expected fi nancial effects, taking into account that, as provi ded for by the “Quick fix” delegated act, the current financial ye ar benefits from the phase-in allowing such information not to be reported pending the forthcoming applicable regulat ory requirements, as well as any further detailed c onsiderations arising from those analyses that could affect the a ssumptions underlying the assessment of accounting estimates. In view of this assessment, to date the Group has not planned any significant changes in its business mod el and strategy.

Currently, the Group has not adopted a climate tran sition plan as this requires a full understanding o f emissions along the entire value chain. In the previous financial y ear, the Group continued to improve its reporting o f indirect emissions, with the aim of understanding which actions are mos t effective and/or most feasible. This activity wil l allow for a more accurate assessment of the initiatives to be implem ented and the objectives to be defined within the t ransition plan.

This choice will enable us to take targeted and eff ective measures, promoting convergence between busi ness strategy and decarbonisation goals in a responsible and real istic manner.

The group will continue to monitor this exposure by specifically assessing the impact on production co sts related to the introduction of emission reduction regulations and, if there is a significant impact, the group will i nclude these assumptions in its estimates.

57 Other sustainability risks

Among the sustainability risks, the Group identifie d as significant a risk related to failure to monit or product anomalies or shortcomings in the related monitoring processes , with possible repercussions on perceptions of the quality, safety and innovation of our products. The Group assiduous ly monitors the risks related to the quality and sa fety of its products and implements numerous actions to minimise this ri sk by adopting a highly structured quality manageme nt system based on rigorous internal and external controls. Q uality departments carry out constant checks throug hout the production chain, through internal audits, supplier inspections, and in-depth testing on every product before final release. The quality management system is certified to the highest international standards, and our co mpanies undergo regular audits to renew their certifications, which are indispensable for operating in international m arkets. To mitigate the risk also from a financial point of view, the P arent Company and its Italian and European subsidia ries have taken out a product liability insurance policy, which covers any claims for damages arising from the use of its products by consumers or other people.

Currently, the risk related to the lack of processe s for monitoring product anomalies, with potential repercussions on product quality, safety and innovation, is consider ed to be significant in the medium to long term. Th erefore, no significant impacts on accounting estimates are rec orded for this fiscal year .

In view of this assessment, to date the Group has n ot envisaged any significant changes in its busines s model and corporate strategy (for further details please refe r to Chapter SBM-3 Significant Impacts, Risks and O pportunities and their Interaction with the Strategy and Business Mo del of Sustainability Reporting).

For the sake of completeness, a risk of medium rele vance is also reported regarding the difficulty of sourcing raw materials useful for the creation of finished produ cts planned by the Group, which can be determined b oth by the scarce availability of resources (supply lower than demand ) and by political or economic unrest, such as inte rnational conflicts, which create disruptions or changes along the entir e supply chain. This could cause delays or blockage s in supplies, a decrease in the quality of supplies and lead to a r eduction or loss of revenues and an increase in pro curement costs.

58

STOCK OPTION PLANS

El.En. S.p.A.

Below is some information on the stock option plan approved by the parent company El.En. S.p.A., a pla n designed to provide the Company with an incentive and retention instrument.

2026-2031 plan

Taking into account the presence of two tranches, w ith two different vesting and exercise periods, the 2026/2031 plan actually envisages two distinct options. Given the structure of this plan, valorisation of the Fair Va lue of the plan assigned by El.En. can instead be classified as a Bermuda op tion. Bermudian options provide that the option may be exercised at a number of specifically identified dates within th e life of the option, usually interspersed with per iods when the option cannot be exercised. They are considered a hybrid v ersion between European and American ones, hence th eir name.

To quantify the Fair Value of the Bermudian, we use d a binomial model from the assignment date to the maturity date.

The model takes into account the value of the secur ity underlying the option at the time of assignment , the strike price and requires the estimation of the volatility of th e security, the risk free interest rate and the exp ected dividend rate of the security.

An initial allocation of rights under the plan was made in 2023.

The following assumptions were made in order to det ermine the fair value of the original grant:

risk-free rate: 2,9444074% historical volatility: 0,3709335939 time interval used for volatility calculation: last trading year

On 13 March 2026, acting on a proposal from the Rem uneration Committee, the Company's Board of Directo rs resolved on the reassignment of 120.000 options previously g ranted on 15 March 2023, which had reverted to the Board's availability pursuant to Article 4 of the Regulatio ns following termination of the employment or colla boration relationship with certain previous beneficiaries. T he subscription price was set by the Board—maintain ing the price already determined on 15 March 2023—at 13,91 euros per subscribed share, although the arithmetic mean of the official prices recorded for the Company's ordinary shares on the market organised and managed by Bors a Italiana S.p.A.

during the 6 (six) months preceding the reassignmen t of the returned options (12 September 2025-12 Mar ch 2026) was lower, at 12,77 euros.

Accordingly, the following assumptions were made to determine the fair value of the reassignment of 13 March 2026:

risk-free rate: 2,81947% historical volatility: 0,3700017931 time interval used for volatility calculation: last trading year

With regard to the characteristics of the stock opt ion plans, as well as the capital increase approved to service them, please refer to the description in Note (10) to thi s document.

Max. expiration

date Outstanding

options Options issued Options

cancelled Options

exercised Expired option not exercised Outstanding

options Exercisable

options Exercise price 01/01/2026 01/01/2026 -

30/06/2026 01/01/2026 -

30/06/2026 01/01/2026 -

30/06/2026 01/01/2026 -

30/06/2026 30/06/2026 30/06/2026 Plan 2026-2031 31-dic-31 1.414.000 53.000 1.361.000 580.500 € 13,91

59

STOCK GRANT PLANS

El.En. S.p.A.

Below is some information on the stock grant plans approved by the parent company El.En. S.p.A., plans designed to provide the Company with an incentive and loyalty i nstrument.

Compensation plan based on financial instruments fo r the benefit of employees and collaborators of the Company and its subsidiaries The plan approved by the Shareholders' Meeting of t he parent company on 29 April 2025, and the regulat ions for which were approved by the Board of Directors on 15 May 2 025, is intended for individuals identified at the Board's discretion from among employees and collaborators deemed worth y of incentives and recognition and who hold or are destined to hold roles deemed to be of key or strategic impo rtance within the Company and the Group based on ma nagement and strategic considerations. Collaborators and emp loyees (belonging to the category of executives, mi ddle managers and white collar workers) of the Issuer and/or its Subsidiaries who, at the sole and discretionary jud gement of the Board of Directors, play a key role, thereby actively con tributing to the development of the group's busines s and the creation of long-term value, may be beneficiaries of the Pla n.

The 2025-2028 Stock Grant Plan envisages the free a ssignment to the identified Beneficiaries of the ri ght to receive, again free of charge, ordinary shares of El.En. Tre asury stock of which the Company has acquired owner ship will be used to service the Plan, pursuant to and for the purpos es of Articles 2357 et seq. of the It. Civil Code.

In particular, the Shareholders’ Meeting set the ma ximum total number of El.En. ordinary shares to ser vice the 2025-

2028 Stock Grant Plan at 200.000 Shares, equal to 0 ,249% of the Company's share capital at the time of the resolution, all ordinary shares with no expressed par value.

The Plan is structured in 4 (four) Vesting Periods starting in 2025.

As of the reference date of this document, no right s have been assigned.

Compensation plan based on financial instruments fo r the benefit of the Company's General Manager The plan approved by the Shareholders’ Meeting of t he parent company on 29 April 2025, pursuant to Art . 114- bis of It. Legislative Decree 58/1998 and whose regulation s were approved by the Board of Directors on 15 May 2025, was intended exclusively for the Company's General Mana ger, Paolo Salvadeo, identified by the Board of Dir ectors as the key figure in defining and achieving the Company's strategic and performance objectives with reference to the achievement of the Group's objectives.

The “2025-2028 Stock Grant Plan for the General Man ager of El.En. S.p.A.” provided for the free alloca tion to the General Manager of shares of El.En. S.p.A. A maximu m of 136.000 shares (the “Base Number”), equal to 0 ,169% of the share capital of El.En. S.p.A. as at the resolution date, were allocated to service the Plan, using tr easury shares acquired by the Company.

The Plan was structured into 4 (four) Vesting Perio ds starting in 2025.

The Plan provided that, for each Vesting Period and within the Base Number of shares, the Board of Dir ectors could assign to the Beneficiary a maximum of 34.000 right s for each Vesting period corresponding to a maximu m of 136.000 shares attributable for the entire duration of the plan.

The beneficiary had been informed of the grant of t he rights and the terms of the Plan on 15 May 2025 and had accepted the grant on 30 May 2025; therefore, consistently w ith this, the grant date had been identified as tha t latter date.

Following the resignation submitted by the General Manager on 30 April 2026, pursuant to the relevant information document, Eng. Salvadeo is entitled to receive only 19.000 shares vested with reference to the 2025 fi nancial year, subject to a four-year lock-up, and the plan is to be considered terminated.

60 Information on the Consolidated Statement of financ ial position

- Assets

Non-current assets

Intangible assets (Note 1)

The following changes in intangible assets occurred in the period:

31/12/2025 Increase Decrease Revaluations /

Devaluations Other

movements IFRS5 Depreciatio

n Translation

adjustment 30/06/2026

Goodwill 3.038.065 (407.982) 2.630.083

Developme

nt costs 354.008 12.750 12.752 (114.833) 264.677

Patents

and rights

to use

patents of

others 12.266 3.700 1 (3.845) 12.122

Concession

s, licenses,

trade

marks and

similar

rights 626.921 548.702 - 242.598 (19.885) (274.968) - 1.123.368

Other

intangible

assets 297.636 55.990 (1) - (116.477) - 237.148

Intangible

assets

under

constructio

n and

advance

payments 283.841 182.025 - 465.866 Total 4.612.737 803.167 - - 255.350 (427.867) (510.123) - 4.733.264

Goodwill

Goodwill, which is the most significant component o f intangible assets, represents the excess of the a cquisition cost over the fair value of the assets acquired net of current and continge nt liabilities assumed. Goodwill is not subject to amortisation and is tested for impairment at least annually.

For the purpose of periodic impairment testing, the individual goodwill recorded was allocated to the respective “ cash generating units ” (CGUs) identified. The identification of CGUs coi ncides with each legal entity and corresponds with the Administrators' vision of their business.

The following table shows the book value of goodwil l for each of the “ Cash Generating Units” :

CASH GENERATING UNIT (CGU) Goodwill Goodwill

30/06/2026 31/12/2025

Quanta System S.p.A. 2.079.260 2.079.260

ASA S.r.l. 439.082 439.082

Cutlite Penta S.r.l. 407.982 Ot-las S.r.l. 7.483 7.483 Asclepion Laser Technologies GmbH 72.758 72.758 Deka MELA S.r.l. 31.500 31.500 Total 2.630.083 3.038.065

61 As at the end of the previous financial year, the r ecoverable value of the CGUs was tested for impairment in order to verify the existence of any impairment losses, by c omparing the unit's book value with its value in us e, i.e. the present value of the expected future cash flows that are ex pected to be derived from its continued use and eve ntual disposal at the end of its useful life. The impairment test car ried out for the purposes of the consolidated finan cial statement closed on 31 December 2025 did not reveal any impairment.

As at 30 June 2026, considering the results achieve d in the period by the CGUs attributable to the Eur opean companies to which the goodwill or the expected results for t he financial year are allocated, no indicators of p ermanent impairment have emerged. Following the binding agreement signe d on 7 August 2026 for the disposal of 80% of Cutli te Penta, an impairment adjustment of approximately 4 million eu ros was made to the assets concerned, based on the business plans prepared for the activities being sold and th eir effect on the price-adjustment clauses. The adj ustment also affected the goodwill previously recognised for 407 thousand euros, which was fully impaired as at 30 June 2026.

Other intangible assets

The item “development costs” includes costs incurre d for the development of prototypes both by the par ent company El.En. S.p.A. and its subsidiary Asa Srl.

The item “industrial patent and intellectual proper ty rights” relates to the capitalisation of costs i ncurred for the purchase of patents, especially by the subsidiary Q uanta System SpA and the parent company El.En. S.p. A.

The item "concessions, licences, trademarks and sim ilar rights" includes, among other things, costs in curred particularly by the parent company El.En. and by the subsidiarie s Lasit, Quanta and Asclepion for the purchase of s oftware.

The residual item “Other” consists mainly of costs incurred by the parent company El.En. for software development.

62 Tangible fixed assets (Note 2)

Movements in tangible fixed assets are as follows:

Cost 31/12/2025 Increase (Disposals) Revaluation /

Devaluation Other

movements IFRS5 Translation

adjustment 30/06/2026

Land and Buildings 46.945.701 799.431 1.981.830 49.726.962 Plant and machinery 24.323.226 1.340.264 (419) 2.7 65.339 (1.918.063) 26.510.347 Industrial and commercial equipment 20.832.539 1.519.063 (217.578) 163.223 (801.830) (386) 21.495.031 Other assets 16.822.211 953.569 (166.127) 403.982 (2.690.762) (36) 15.322.837 Tangible assets under construction and advance payments 7.670.827 794.385 (5.746.984) (81.214) 2.637.014 Total 116.594.504 5.406.712 (384.124) 0 (432.610) (5.491.869) (422) 115.692.191 Land and Buildings rights of use 21.784.200 382.034 (15.479.150) (4.683) 6.682.401 Plant and machinery right of use Industrial and commercial equipment right of use 875.226 17.202 (19.201) (2 80.186) 593.041 Other assets right of use 6.801.140 866.639 (548.265) (2) (1.552.984) (2.609) 5.563.919 Total 29.460.566 1.265.875 (567.466) 0 (2) (17.312.320) (7.292) 12.839.361

Total 146.055.070 6.672.587 (951.590) 0 (432.612) (22.804.189) (7.714) 128.531.552

Accumulated depreciation 31/12/2025 Depreciation (Disposals) Revaluation /

Devaluation Other

movements IFRS5 Translation

adjustment 30/06/2026

Land and Buildings 12.786.919 616.107 (3) 13.40 3.023 Plant and machinery 13.759.438 1.057.515 (419) 26 (804.383) 14.012.177 Industrial and commercial equipment 16.439.574 948.057 (182.071) (162.873) ( 695.158) (361) 16.347.168 Other assets 11.876.629 584.205 (142.777) (13.898) (1.504.978) 2 10.799.183 Tangible fixed assets in progress

and advances

Total 54.862.560 3.205.884 (325.267) 0 (176.748) (3.004. 519) (359) 54.561.551 Land and Buildings rights of use 3.714.821 314.158 (1.732.766) (1.063) 2.295.150 Plant and machinery right of use Industrial and commercial equipment right of use 796.612 9.592 (19.201) (22 7.499) 559.504 Other assets right of use 2.777.373 676.037 (530.43 6) (621.032) (1.441) 2.300.501 Total 7.288.806 999.787 (549.637) 0 0 (2.581.297) (2.504 ) 5.155.155

Total 62.151.366 4.205.671 (874.904) 0 (176.748) (5.585.816) (2.863) 59.716.706

Net value 31/12/2025 Increase (Disposals) Revaluation /

Devaluation /

Depreciations Other

movements IFRS5 Translation

adjustment 30/06/2026

Land and Buildings 34.158.782 799.431 (616.107) 1.981.833 36.323.939 Plant and machinery 10.563.788 1.340.264 (1.057.51 5) 2.765.313 (1.113.680) 12.498.170 Industrial and commercial equipment 4.392.965 1.519.063 (35.507) (948.057) 326.096 (106.672) (25) 5.147.863 Other assets 4.945.582 953.569 (23.350) (584.205) 417.880 (1.185.784) (38) 4.523.654 Tangible assets under construction and advance payments 7.670.827 794.385 (5.746.984) (81.214) 2.637.014 Total 61.731.944 5.406.712 (58.857) (3.205.884) (255.862) (2.487.350) (63) 61.130.640 Land and Buildings rights of use 18.069.379 382.034 (314.158) (13.746.384) (3.620) 4.387.251 Plant and machinery right of use Industrial and commercial equipment right of use 78.614 17.202 (9.592) (52. 687) 33.537 Other assets right of use 4.023.767 866.639 (17.829 ) (676.037) (2) (931.952) (1.168) 3.263.418 Total 22.171.760 1.265.875 (17.829) (999.787) (2) (14.731.023) (4.788) 7.684.206

Total 83.903.704 6.672.587 (76.686) (4.205.671) (255.864) (17.218.373) (4.851) 68.814.846

63 The item “Land and Buildings” and related rights of use includes:

- the real estate complex in Calenzano (FI), where th e parent company El.En. S.p.A. and some subsidiarie s

operate;

- the properties located in the municipality of Torre Annunziata, the first of which was purchased in 20 06 and the second in 2018 and intended for the research, d evelopment and production activities of the subsidi ary Lasit

S.p.A.;

- the property located in Jena which, since May 2008, has housed the activities of the subsidiary Asclep ion GmbH together with the new property inaugurated by the s ame subsidiary in September 2019;

- the property located in Samarate (VA), acquired at the end of 2014 by the subsidiary Quanta System S.p .A. in addition to the new building purchased in 2018 by Q uanta adjacent to the first;

- the building built in 2019 located in Arcugnano whi ch houses the activities of the subsidiary ASA srl;

- the property acquired in 2021 by the subsidiary Gal li Giovanni Srl.

The increases during the period mainly relate to co sts incurred for improvements to the plants of the parent company and the subsidiaries Lasit SpA and Quanta System Sp A.

The item “Plants and machinery” essentially refers to investments made by the parent company El.En. an d by the subsidiaries Asclepion, Quanta System, Lasit, Asa a nd Galli Giovanni & C. With reference to the latter , it should be noted that, in the acquisition year 2019, a Purchase Pric e Allocation of the amount paid of approximately EU R 400 thousand was made to the Plants and machinery category.

The item “Industrial and commercial equipment” refe rs in particular to El.En. and the subsidiaries Qua nta System, Esthelogue, Deka Mela, Lasit, Deka Sarl and Asclepi on.

The increases in the category “Other assets” are ma inly attributable to new motor vehicles, also due t o the application of IFRS 16, electronic equipment, furniture and fit tings.

The ‘Assets under construction and advance payments ’ category mainly includes costs incurred by the su bsidiaries Lasit and Quanta System for new buildings currently being fitted out. The decrease reported under ‘Other mov ements’ mainly relates to reallocation to the respective categorie s following completion of renovation work on part o f the property owned by the parent company El.En. SpA.

As at 30 June 2026, the Group has no commitments re lated to the completion and/or purchase of the abov e-mentioned properties.

As of the financial statement closing, there were n o indicators of impairment deriving either from int ernal sources (company strategies) or external sources (regulator y, economic, technological context in which the Gro up operates) relating to tangible fixed assets as a whole.

Equity investments (Note 3)

The analysis of the equity investments is as follow s:

30/06/2026 31/12/2025 Variation Var.% Equity investment in associated companies 5.509.591 6.060.778 (551.187) -9,09% Other equity investments 138.267 1.059.162 (920.895) -86,95% Total 5.647.858 7.119.940 (1.472.082) -20,68%

Equity investments in associated companies

For a detailed breakdown of the equity investments held by Group companies in associated companies, pl ease refer to the paragraph on the scope of consolidation.

Please note that the associated companies Immobilia re Del.Co. S.r.l., Elesta S.p.A., With US Co. Ltd a nd Penta Laser Zhejiang Co., Ltd are valued using the shareholders ’ equity method.

64 The financial statement values of equity investment s in associated companies are respectively:

Immobiliare Del.Co. S.r.l.: 207 thousand euros Actis S.r.l.: 1 thousand euros Elesta S.p.A.: 1.088 thousand euros With Us Co., Ltd - thousand euros Penta Laser Zhejiang Co., Ltd 4.213 Thousand euros Total 5.509 thousand euros

Equity investments in other companies

“Equity investments in other companies” were measur ed at fair value .

As at 31 December 2025, this item mainly related to the interest held in Epica International Inc., wit h a carrying amount of 888 thousand euros, which was fully impaired as at 30 June 2026.

65 Financial receivables/Deferred tax assets and Other non-current receivables and assets (note 4)

30/06/2026 31/12/2025 Variation Var.% Other non -current assets Financial receivables - third parties 236.142 255.657 (19.515) -7,63% Financial receivables - associated 86.449 93.433 (6.984) -7,47% Deferred tax assets 9.278.639 11.670.316 (2.391.677) -20,49% Other non-current assets 11.106.896 11.109.890 (2.994) -0,03% Total 20.708.126 23.129.296 (2.421.170) -10,47%

Deferred tax assets amounted to about EUR 9.279 tho usand and mainly refer to the reserve for inventory obsolescence, intercompany profits on end-of-period inventories, the bad debt reserve in excess of the amount deduct ible for tax purposes, and deferred taxation calculated on the r evaluation of certain company assets performed by s ome Italian companies in accordance with current regulations.

Deferred tax assets are recognised to the extent th at it is probable that there will be adequate futur e taxable profits against which the temporary differences can be util ised.

The decrease in deferred tax assets was attributabl e, for approximately 3,3 million euros, to reclassi fication to assets held for sale in accordance with IFRS 5.

The item “Other non-current assets” relates mostly to temporary investments of liquidity in life insur ance policies underlying a segregated management in securities an d with the possibility of exercising total or parti al surrender during the contractual term provided that at least one yea r has elapsed since the inception of the policies.

As at 30 June 2026, the aggregate fair value of the investments was 4,6 million euros for El.En., 4,2 million euros for Deka Mela and 2 million euros for Quanta System.

Since these are medium-term investments, the compan ies have decided to classify them as non-current as sets, recording the fair value of the policies in the ass ets and the revaluation of the policies in the inco me statement, and consequently to exclude them from the net financial position.

66

Current assets

Inventories (Note 5)

The analysis of inventories is as follows:

30/06/2026 31/12/2025 Variation Var.% Raw materials, consumables and supplies 72.975.230 83.958.528 (10.983.298) -13,08% Work in progress and semi finished products 32.310.137 41.076.531 (8.766.394) -21,34% Finished products and goods 31.066.333 32.228.539 (1.162.206) -3,61% Total 136.351.700 157.263.598 (20.911.898) -13,30%

Closing inventories of 136.352 thousand Euro were d own 13,3% from 157.264 thousand Euro as at 31 Decem ber 2025.

However, the decrease was attributable, for approxi mately 35 million euros, to reclassification to ass ets held for sale in accordance with IFRS 5.

Below is an analysis of total inventories, distingu ishing the amount of the reserve for inventory obso lescence from the

gross value:

30/06/2026 31/12/2025 Variation Var.% Gross amount of Inventory 159.589.395 184.738.724 (25.149.329) -13,61% Devaluation provision (23.237.695) (27.475.126) 4.237.431 -15,42% Total 136.351.700 157.263.598 (20.911.898) -13,30%

The provision for obsolescence is calculated to ali gn the stock value with its estimated realisable va lue, recognising obsolescence and slow moving where necessary. The p rovision decreased by approximately 4,2 million eur os compared with 31 December 2025, and its incidence on the gro ss amount of inventory decreased slightly from 14,9 % as at 31 December 2025 to 14,6% as at 30 June 2026.

Accounts receivable (Note 6)

Receivables were as follows:

30/06/2026 31/12/2025 Variation Var.% Accounts receivable from third parties 79.647.901 115.607.706 (35.959.805) -31,11% Accounts receivable from associated 438.262 1.733.287 (1.295.025) -74,71% Total 80.086.163 117.340.993 (37.254.830) -31,75%

Accounts receivable from third parties 30/06/2026 31/12/2025 Variation Var.% Italy 21.623.727 55.955.274 (34.331.547) -61,36% Europe 18.224.165 19.978.512 (1.754.347) -8,78%

ROW 45.007.895 49.237.806 (4.229.911) -8,59%

minus: bad debt reserve (5.207.886) (9.563.886) 4.356.000 -45,55% Total 79.647.901 115.607.706 (35.959.805) -31,11%

The table shows an overall decrease in trade receiv ables, of which 43,9 million euros was attributable to reclassification to assets held for sale in accordance with IFRS 5.

67 Below are the movements in the bad debt reserve:

30/06/2026

On January 1st 9.563.886

Provision 515.647

Amounts utilized and unused amounts reversed (635.159) Other movements (4.236.453) Translation adjustment (35) At the end of the period 5.207.886

The incidence of the bad debt reserve over total re ceivables from third parties recorded a decrease fr om 7,6% as at 31 December 2025 to 6,1% as at 30 June 2026. The amoun t reported under other movements relates, for appro ximately 4 million euros, to reclassification to assets held f or sale in accordance with IFRS 5.

An analysis of accounts receivable from third parti es is given below:

Accounts receivable from third parties 30/06/2026 31/12/2025 To expire 53.672.298 73.066.960

Overdue:

0-30 days 14.969.997 18.642.714 31-60 days 3.708.479 7.632.413 61-90 days 1.394.343 3.718.403 91-180 days 4.530.067 5.065.742 > 180 days 1.372.717 7.481.474 Total 79.647.901 115.607.706

For a more detailed analysis of accounts receivable from associated companies, please refer to the fol lowing chapter on “related parties”.

68 Income tax receivables/Other receivables (Note 7)

The breakdown of income tax receivables and other r eceivables is as follows:

30/06/2026 31/12/2025 Variation Var.% Income Tax receivables Income tax receivables 1.878.909 2.444.206 (565.297) -23,13% Total 1.878.909 2.444.206 (565.297) -23,13%

Current financial receivables Financial receivables - third parties 716.489 645.273 71.216 11,04% Financial receivables - associated 76.932 77.002 (70) -0,09% Total 793.421 722.275 71.146 9,85%

Other current receivables Security deposits 242.592 314.366 (71.774) -22,83% Advance payments to suppliers 2.864.160 4.024.223 (1.160.063) -28,83% VAT credits 7.418.908 9.007.362 (1.588.454) -17,64% Other tax receivables 685.424 1.249.332 (563.908) -45,14% Other receivables 5.281.253 5.297.380 (16.127) -0,30% Other receivables from associated companies 899 11.999 (11.100) -92,51% Total 16.493.236 19.904.662 (3.411.426) -17,14%

Total current financial receivables and other curre nt receivables 17.286.657 20.626.937 (3.340.280) -16,19%

The "income tax receivables", for some group compan ies, record receivables deriving from the differenc e between the pre-existing tax receivable/down payments and the t ax liability accrued as of the reference date of th is document.

A more detailed analysis of financial receivables f rom associated companies can be found in the chapte r “Related party disclosures” later in this document.

The half-year ended with a VAT receivable of more t han 7 million euros arising from the Group's extens ive export activities.

The item ‘Other tax receivables’ includes tax credi ts recognised for certain Italian companies to supp ort research, development, and innovation activities, as well as the remaining balances of tax receivables granted i n lieu of benefits recognised in previous financial years in the form of “hyper-depreciation” and “super-depreciation”.

The item “Other receivables” refers mostly to prepa id expenses of various companies.

The decrease in income-tax receivables, amounting t o approximately 1 million euros, and in other recei vables, amounting to approximately 3,1 million euros, relat es to reclassification to assets held for sale in a ccordance with IFRS 5.

Securities and other current financial assets (Note 8)

30/06/2026 31/12/2025 Variation Var.% Securities and other current financial assets Other current financial assets 58.928.697 37.080.000 21.848.697 58,92% Total 58.928.697 37.080.000 21.848.697 58,92%

The amount recorded under “Other current financial assets” consists of mutual investment funds and bon ds held by the parent company El.En. SpA and by the subsidiaries D eka Mela and Quanta System in order to temporarily deploy liquidity.

69 Cash and cash equivalents (Note 9)

Cash and cash equivalents are broken down as follow s:

30/06/2026 31/12/2025 Variation Var.%

Bank and postal accounts 136.556.582 174.322.287 (37.765.705) -21,66% Cash on hand 57.811 37.535 20.276 54,02% Total 136.614.393 174.359.822 (37.745.429) -21,65%

During the half-year, cash and cash equivalents dec reased by 37,7 million euros, of which 12 million e uros related to reclassification to assets held for sale in accorda nce with IFRS 5. For the analysis of changes, pleas e refer to the Cash Flow Statement.

Net financial position as at 30 June 2026

The Group's net financial position as at 30 June 20 26 is as follows (in thousands of euros):

Net financial position 30/06/2026 31/12/2025 A Cash and cash equivalents 136.614 174.360 B Cash equivalents C Other current financial assets 59.645 37.725 D Liquidity (A + B + C) 196.260 212.085 E Current financial debt (709) (15.370) F Current portion of non-current financial debt (4.828) (5.395) G Current financial indebtedness (E + F) (5.536) (20.766) H Net current financial position (D + G) 190.723 191.320 I Non-current financial debt (756) (4.106) J Debt instruments (4.651) (13.199) K Non-current trade and other payables (801) (1.803) L Non-current financial indebtedness (I + J + K) (6.208) (19.107) M Net Financial Position (H + L) 184.515 172.212 The net financial position increased by approximately 12 million euros during the half-year, from 172,2 million euros as at 31 December 2025 to 184,5 million euros as at 30 June 2026. For further details, please refer to the Management Report.

70 Information on the Consolidated Statement of financ ial position

- Liabilities

Capital and reserves

The main components of Shareholders' Equity are as follows:

Share capital (Note 10)

As at 30 June 2026, the share capital of El.En. Gro up, coinciding with that of the parent company, was as follows:

Authorized (to stock option plan service) EURO 2.658.453 Underwritten and deposited EURO 2.614.220

Nominal value of each share -

Euros without nominal value

expressed

Category 31/12/2025 Increase Decrease 30/06/2026 No. of Ordinary Shares 80.384.552 53.000 80.437.552 Total 80.384.552 53.000 0 80.437.552

The shares are registered and indivisible; each sha re grants the right to one vote at all ordinary and extraordinary shareholders' meetings as well as other property an d administrative rights in accordance with the law and the Articles of Association. At least 5% of the net income for t he year must be allocated to the legal reserve, wit hin the limits of Article 2430 of the Italian Civil Code. The residue shall be distributed among the shareholders, unles s the shareholders' meeting resolves otherwise. The Articles of Associa tion do not provide for the distribution of down pa yments on dividends. Dividends not collected within five year s from the day on which they became payable shall b e forfeited in favour of the Company. There are no special clauses in the Articles of Association concerning the shar eholders' participation in the remaining assets in the event of liquidation. There are no clauses in the Article s of Association conferring particular privileges.

Capital increases to service stock option plans The extraordinary Shareholders’ Meeting of El.En. S .p.A. of 15 December 2022 resolved to grant the Boa rd of Directors the power, pursuant to and for the purposes of Art. 2443, paragraph II, of the It. Civil Code, to incr ease, also in several instalments and also in divisible form, within five years from the date of the resolution, the share c apital up to the maximum nominal amount of EUR 65.000,00 through the issue of new shares to be allocated to the subscri ption of the beneficiaries of the 2026-2031 stock option plan.

On 15 March 2023, the Board of directors of the par ent company, at the proposal of the Remuneration Co mmittee, resolved on the implementation of the share incenti ve plan ( stock option ) for the period 2026-2031 (“2026-2031 Stock Option Plan” or “Plan”), following the mandate given to i t by the shareholders' meeting mentioned above: the beneficiaries of the plan, the quantities of option s assigned, the exercise windows, and the subscript ion price were identified.

The Board also proceeded to exercise, partially and exclusively for the purposes of the Plan, the righ t granted to it pursuant to Article 2443, paragraph II, of the (It. ) Civil Code, by the same meeting, to increase for consideration, in a divisible manner and with the exclusion of the opti on right pursuant to Art. 2441, para. V, of the It. Civil Code, the share capital up to EUR 45.955,00 through the issuance of 1.414.000 ordinary shares which may be subscribed by administrators, collaborators, and employees of El. En. s.p.a. and its subsidiaries, who are assignees of the options under the aforementioned Plan.

On 13 March 2026, acting on a proposal from the Rem uneration Committee, the Company's Board of Directo rs resolved on the reassignment of 120.000 options previously g ranted on 15 March 2023, which had reverted to the Board's availability pursuant to Article 4 of the Regulatio ns following termination of the employment or colla boration

71 relationship with certain previous beneficiaries. T he returned options were allocated partly to employ ees who were already beneficiaries of the Plan, increasing the n umber of options available to them, and partly to o ther employees.

The subscription price was set by the Board—maintai ning the price already determined on 15 March 2023— at 13,91 euros per subscribed share, although the arithmetic mean of the official prices recorded for the Compa ny's ordinary shares on the market organised and managed by Borsa Italiana S.p.A. during the 6 (six) months precedin g the reassignment of the returned options (12 September 2025-12 March 2026) was lower, at 12,77 euros.

The options may be exercised by the beneficiaries i n two equal tranches, in accordance with the terms and conditions of the plan regulations definitively approved on 15 March 2023: the first from 1 April 2026 until 31 D ecember 2031; the second from 1 April 2027 to 31 December 2031.

The Plan will end on 31 December 2031; any options not exercised on that date will be definitively for feited, and the capital will be deemed to be definitively increased for the amount actually subscribed and paid up on that date.

It should also be noted that, pursuant to Article 4 of the Stock Option Plan 2026-2031 Regulation, ter mination of the employment relationship between the General Manager and the Company resulted in immediate forfeiture o f the right to exercise all 145.000 options assigned to him, as they had not yet been exercised. Pursuant to the a forementioned Article 4, these rights were extinguished automatic ally on the date the resignation was submitted, wit hout the need for any notice or formality.

Lastly, it should be noted that the market capitali sation of the Company is, in any case, currently hi gher than the values implied in the consolidated shareholders' equity as at 30 June 2026.

Share premium reserve (Note 11)

As at 30 June 2026, the share premium reserve, coin ciding with that of the parent company, amounted to 49.384 thousand euros, up from 48.649 thousand euros as at 31 December 2025 as a result of the stock options exercised during the six-month period, as mentioned in the pr evious note.

Other reserves (Note 12)

30/06/2026 31/12/2025 Variation Var.%

Legal reserve 537.302 537.302 0 0,00% Extraordinary reserve 143.866.165 131.056.129 12.810.036 9,77% Cumulative translation adjustment 282.827 (214.078) 496.905 -232,11% Stock option/ stock based compensation reserve 9.954.850 9.667.935 286.915 2,97% Special reserve for grants received 426.657 426.657 0 0,00% Other reserves (53.285) (47.567) (5.718) 12,02% Total 155.014.516 141.426.378 13.588.138 9,61%

As at 30 June 2026, the ‘extraordinary reserve’ amo unted to 143.866 thousand euros; the increase compa red with 31 December 2025 relates to the allocation of the net income of the 2025 financial year, as resolved by t he parent company's Shareholders' Meeting on 29 April 2026.

The cumulative translation adjustment summarises th e effect of exchange rate variation on foreign curr ency investments. The effects for 2026 are shown in the “total comprehensive (loss) income” column of the S hareholders’ Equity statement.

The reserve for “ stock options/stock-based compensation” includes the balancing entry for the notional cost s determined in accordance with IFRS 2 for the stock option and stock grant plans awarded by El.En. S.p. A.

The special reserve for grants received is to be co nsidered a revenue reserve and is unchanged from 31 December 2025.

The item “Other reserves” mainly includes the reser ve for the valuation of the severance indemnity fun d in accordance with IAS 19.

72 Treasury stock (Note 13)

The Shareholders' Meeting of the parent company El. En. s.p.a. has approved the authorisation for the B oard of Directors to purchase and dispose of treasury stock with nume rous resolutions since 2008; most recently, on 29 A pril 2025, the terms of which for purchase would have expired on 2 8 October 2026.

On 29 April 2026, the Shareholders' Meeting of El.E n. S.p.A., after revoking the unused portion of the authorisation granted by the same meeting on 29 April 2025, re-au thorised the Board of Directors to purchase treasur y stock within 18 months of the resolution date, as already descri bed under significant events occurring in the first half of 2026.

As at 30 June 2026, the number of treasury stock he ld by the company is 241.784, an increase from the 235.346 shares held as at 31 December 2025.

Retained earnings / (accumulated deficit) (Note 14)

This item summarises the contribution to the Group' s Shareholders' Equity of all consolidated companie s.

73

Non-current liabilities

Severance indemnity fund (Note 15)

The following table highlights the movements during the accounting period:

31/12/2025 Provision (Utilization) Payments to

complementary

funds, INPS fund

and other

movements IFRS5 30/06/2026 5.247.825 1.186.393 (462.994) (884.587) (280.239) 4.806.398

The severance indemnity represents the allowance th at employees accrue during their working life and i s paid to them when they leave.

For the purposes of international accounting standa rds, the payment of severance pay represents a “lon g-term benefit following the end of the employment relationship”; it is a “defined benefit” obligation that involves the recording of a liability similar to that which arises in defined b enefit pension plans.

With regard to companies located in Italy, followin g the amendments first made to severance indemnity by Law 27/12/2006 (and subsequent amendments) and now by A rticle 1 of the new 2026 Budget Law, only the liabi lity for accrued severance indemnity remaining with the comp any was measured in accordance with IAS 19, since t he accruing portion was paid to a separate entity (supplementar y pension scheme).

Even for employees who expressly decided to retain severance indemnity with the company, the severance indemnity accrued from 1 January 2007 and, for companies subj ect to the new legislation, from 1 January 2026 was paid into the Treasury Fund managed by INPS. This fund guarantees private-sector employees payment of severance inde mnity for the portion corresponding to the contributions paid into it.

The present value of the obligation for the severan ce indemnity fund remaining with the Group companie s as at 30 June 2026 amounted to 4.860 thousand euros, excluding 26 1 thousand euros reclassified in accordance with IF RS 5.

The assumptions adopted in determining the plan are summarised in the table below:

Financial hypotheses Year 2025 Year 2026

Annual discount rate 2,52%-2,79%-3,09%-3,37%-3,96% (*) 2,87%-3,04%-3,24%-3,43%-4,02% (***)

Annual inflation rate 1,4%-1,6%-1,9%-2% (**) 3,1%-2%-2% (****)

Annual increase rate of salaries Executives 3,00% Executives 3,00% (including inflation) White collar workers 3,00% White collar workers 3,00% Blue collar workers 3,00% Blue collar workers 3,00% (*)2,52% for the first three years, 2,79% from the fourth to fif th year, 3,09% from the sixth to seventh year, 3,37 % from the eighth to te nth year, 3,96% up to thirtieth year.

(**) 1,4% for 2026, 1,6% for 2027, 1,9% for 2028, 2 % for the following years.

(***)2,87% for the first three years, 3,04% from th e fourth to fifth year, 3,24% from the sixth to sev enth year, 3,43% from t he eighth to tenth year, 4,02% up to thirtieth year.

(****) 3,1% for 2026, 2% for 2027, 2% for the follo wing years.

74 To ensure consistency with the source of past valua tion returns, the returns that S&P records and publ ishes for the 1Y-

3Y, 3Y-5Y, 5Y-7Y, 7Y-10Y and finally 10+Y maturitie s were used to construct an iBoxx Corporate AA ‘rat e curve’ as at 30 June 2026, as summarised in the table above.

The amount recorded in the column “Payment to compl ementary pension forms, to INPS fund and other move ments” of the statement of changes in the severance indemn ity fund represents both the portion of severance i ndemnity paid to complementary pension funds or to the Treasury f und managed by INPS (for the latter with reference to certain Italian group companies), depending on the choices made by employees, and the amount of actuarial loss es/gains for the year.

Other provisions (Note 16)

The following table highlights the movements during the year:

31/12/2025 Provision (Utilization) Other movements IFRS5 Translation

adjustment 30/06/2026

Reserve for pension costs and similar 2.164.414 155.743 (52.633) (9.885) (374.036) 1.883.603 Warranty reserve on the products 4.874.363 421.052 (172.855) (1.372.567) 3.533 3.753.526 Reserve for risks and charges 1.534.433 500.434 (234.633) (13.961) (15.000) 1.771.273 Other minor reserves 151.327 312.451 463.778 Total 8.724.537 1.077.229 (460.121) 288.605 (1.761.603) 3.533 7.872.180

The agents' client indemnity fund, included under ‘ pension and similar obligations’, amounted to appro ximately 1.654 thousand euros as at 30 June 2026, compared with 1. 913 thousand euros as at 31 December 2025, also tak ing into account the reclassification to liabilities directl y associated with assets held for sale in accordanc e with IFRS 5.

According to IAS 37, the amount due is to be calcul ated using discounting techniques, in order to esti mate as best as possible the total cost to be incurred in providing agents with benefits after the end of their employ ment.

The technical evaluations were carried out on the b asis of the assumptions described below:

Financial hypotheses Year 2025 Year 2026

Annual discount rate 2,927%-3,143%-3,233%(*) 2,931%-3,090%-3,149%(***) Annual inflation rate 1,4%-1,6%-1,9%-2% (**) 3,1%-2%-2% (****)

(*) 2,927% for maturities up to 10 years, 3,143% up to 15 years, 3,233% up to 20 years.

(**) 1,4% for 2026, 1,6% for 2027, 1,9% for 2028, 2 % for the following years.

(***) 2,931% for maturities up to 10 years, 3,090% up to 15 years, 3,149% up to 20 years.

(****) 3,1% for 2026, 2% for 2027, 2% for the follo wing years.

The yields derived from the EUR IRS curve at the va luation date were used to value the liability.

The warranty reserve is estimated on the basis of t he costs for spare parts and warranty service incur red during the period, adjusted for the sales volumes of the finan cial year and the average years of warranty granted , which vary depending on the sector.

Contingent liabilities

The contract signed for the sale of the equity inve stment in PLZ envisages: a) a clause regarding a po tential 5% price reduction in connection with the failure to achieve certain financial targets by the Chinese group dur ing the 2025-2027 three-year period; b) a seller’s liability clause r elating to certain findings emerging from the due d iligence process conducted by YOFC, for which a maximum indemnity li mit of up to 10% of the price paid is stipulated; c ) a clause concerning specific instances that could give rise to indemnities without a limit on compensation. The liability relating

75 to clause a) is already recognised under long-term financial liabilities; the liability relating to cl auses b) and c) was estimated on the basis of the events reasonably exp ected to occur and recognised under short-term fina ncial liabilities.

Financial debts and liabilities and other non-curre nt liabilities (Note 17)

30/06/2026 31/12/2025 Variation Var.% Financial m/l term debts Amounts owed to banks 755.685 4.105.814 (3.350.129) -81,59% Amounts owed to leasing companies 3.157.510 11.054.978 (7.897.468) -71,44% Amounts owed to other financiers 1.493.882 2.143.625 (649.743) -30,31% Other non -current liabilities 801.385 1.803.031 (1.001.646) -55,55% Total 6.208.462 19.107.448 (12.898.986) -67,51%

Details of amounts owed to banks outstanding as at 30 June 2026 are shown in the following table:

Company Bank Currency Current

amount Non-

current

amount First

instalment Last

instalment Interest

rate Terms of

payment

(monthly,

quarterly ) Guarantees Asclepion GmbH Baudarlehen

Deutsche

Bank Euro

444.444

259.263 02/05/2018 31/12/2027 1,40% Monthly

instalment Mortgage

ASA S.r.l. Unicredit Euro

245.071

496.422 30/11/2019 31/05/2029 0,85% Half-year

instalments Mortgage

The decrease in the item was attributable, for appr oximately 3 million euros, to reclassification to l iabilities associated with assets held for sale in accordance with IFRS 5 .

The decrease in amounts owed to leasing companies r elates, for approximately 8 million euros, to recla ssification to liabilities associated with assets held for sale in accordance with IFRS 5.

The other amounts in this item result from the appl ication of IFRS 16 for the first time in the financ ial year 2019.

The item "Amounts owed to other financiers" include s, among other things, the liability recorded by th e subsidiary Ot-

las following the sale of the majority of Penta Las er Zhejiang to YOFC in July 2025. Under the contrac tual sales clauses, this provides for the return of up to 5% of the sal e price in the event of the Chinese group failing t o achieve certain financial results in the three-year period 2025-202 7.

The item Other non-current liabilities includes, in ter alia, accounts payable overdue by more than 12 months or with payment terms exceeding one year, amounting to 333 thousand euros; 816 thousand euros of the decrease was due to reclassification in accordance with IFRS 5.

76

Current liabilities

Financial liabilities (Note 18)

Details of short-term financial liabilities are set out below:

30/06/2026 31/12/2025 Variation Var.% Financial short term debts Amounts owed to banks 708.649 15.370.387 (14.661.738) -95,39% Amounts owed to leasing companies 1.775.196 3.324.271 (1.549.075) -46,60% Amounts owed to other financiers 2.967.857 2.069.205 898.652 43,43% Total 5.451.702 20.763.863 (15.312.161) -73,74%

30/06/2026 31/12/2025 Variation Var.%

Current liabilities for derivative financial instru ments 84.708 1.649 83.059 5036,93% Total 84.708 1.649 83.059 5036,93%

Details of short-term amounts owed to banks are giv en in the previous note. Payables to banks are not subject to covenants.

The decrease in the item was attributable, for appr oximately 14 million euros, to reclassification to liabilities associated with assets held for sale in accordance with IFRS 5 .

The item “Amounts owed to leasing companies” and “A mounts owed to other financiers” includes the short -term portions of payables described in the previous note .

Approximately 1,7 million euros of the change in th e item was due to reclassification to liabilities a ssociated with assets held for sale in accordance with IFRS 5.

The item ‘Current derivative financial liabilities’ includes the fair-value measurement under IFRS 9 o f the foreign-

exchange derivative contract entered into by the pa rent company El.En. SpA, to hedge exchange-rate ris k on cash held in foreign currencies during the half-year under re view.

The item “Amounts owed to other financiers” include s, among other things, the liability recorded by th e subsidiary Ot-

las following the sale of the majority of Penta Las er Zhejiang to YOFC in July 2025 based on certain p rice adjustment clauses provided for in the contract.

Accounts payable (Note 19)

30/06/2026 31/12/2025 Variation Var.% Accounts payable 62.254.868 88.764.431 (26.509.563) -29,87% Amounts owed to associated companies 247.309 1.254.076 (1.006.767) -80,28% Total 62.502.177 90.018.507 (27.516.330) -30,57%

When analysing the item, it should be considered th at approximately 31,7 million euros was reclassifie d to liabilities directly associated with assets held for sale in ac cordance with IFRS 5.

77 Income tax payables /Other current payables (Note 2 0)

The “income tax payables” accrued on certain Group companies amounted to 7.236 thousand euros as at 30 June 2026 and are recorded net of the related down payments p aid and withholding taxes incurred.

Other payables are broken down as follows:

30/06/2026 31/12/2025 Variation Var.% Social security debts Debts to INPS 4.858.986 6.193.395 (1.334.409) -21,55% Debts to INAIL 168.794 401.750 (232.956) -57,99% Debts to other Social Security Institutions 761.206 1.074.901 (313.695) -29,18% Total 5.788.986 7.670.046 (1.881.060) -24,52%

Other debts

Debts to the tax authorities for VAT 480.591 860.949 (380.358) -44,18% Debts to the treasury for withholdings 2.160.348 4.402.967 (2.242.619) -50,93% Other tax debts 40.296 65.976 (25.680) -38,92% Debts to staff for wages and salaries 16.410.342 15.889.892 520.450 3,28% Down payments 5.469.107 9.463.865 (3.994.758) -42,21% Other debts to associated companies 235.792 (235.792) -100,00% Other debts 6.647.563 10.122.598 (3.475.035) -34,33% Total 31.208.247 41.042.039 (9.833.792) -23,96% Total social security debts and other debts 36.997.233 48.712.085 (11.714.852) -24,05%

“Debts to staff” include among other things the pay able of deferred salaries accrued by employees as a t 30 June 2026.

The item “Down payments” mainly comprises advances received from customers for orders in hand and rela tes in particular to the subsidiaries Deka Mela, Lasit, Qu anta System and Asclepion, and to Lasit's subsidiar ies in Spain, France and Germany.

The item “other debts” includes, among other things , the deferred income calculated by the various com panies of the group.

The ‘other payables’ category was affected by a rec lassification of approximately 10,7 million euros t o liabilities associated with assets held for sale, in accordance with IFRS 5.

78 Segment reporting under IFRS8

Within the El.En. Group the segments identified in application of IFRS 8 are those indicated below tog ether with their associated financial statement values. Current and deferred taxes and certain financial assets and lia bilities are not allocated to the segments because, again, they are managed at group level.

30/06/2026 Total Medical Industrial Revenues 247.295 227.501 19.793 Intersectorial revenues (840) 0 (840) Net Revenues 246.454 227.501 18.953 Other revenues and income 1.929 1.868 60 Gross Margin 122.779 111.313 11.466 Inc.% 50% 49% 60% Operating costs 79.343 66.787 12.557

EBIT 43.436 44.527 (1.091)

Inc.% 18% 20% -6% Net financial income (charges) 1.714 0 0 Share of profit of associated companies (873) (219) (654) Other Income (expense) net (888) Income (loss) before taxes 43.389 Income taxes 13.703 Income (loss) for the financial period 29.686 Discontinued operations (2.487) 0 (2.487) Income (loss) before minority interest 27.199 Minority interest 1.101 Net income (loss) 26.098 0 0

30/06/2025 Total Medical Industrial Revenues 226.765 206.131 20.634 Intersectorial revenues (862) 0 (862) Net Revenues 225.903 206.131 19.772 Other revenues and income 2.665 2.631 33 Gross Margin 109.195 97.862 11.333 Inc.% 48% 47% 57% Operating costs 77.637 65.650 11.987

EBIT 31.558 32.212 (654)

Inc.% 14% 16% -3% Net financial income (charges) (2.009) 0 0 Share of profit of associated companies (205) (205) 0 Other Income (expense) net 0 0 Income (loss) before taxes 29.344 Income taxes 9.504 Income (loss) for the financial period 19.840 Discontinued operations (2.568) 0 (2.568) Income (loss) before minority interest 17.272 Minority interest (660) Net income (loss) 17.932

79 30/06/2026 Total Medical Industrial Assets assigned 523.760 361.787 161.973 Equity investments 5.648 1.296 4.352 Assets not assigned 103.965 Total assets 633.373 363.082 166.325

Liabilities assigned 155.722 71.601 84.120 Liabilities not assigned 42.044 Total liabilities 197.766 71.601 84.120

31/12/2025 Total Medical Industrial Assets assigned 521.188 343.970 177.218 Equity investments 7.120 2.114 5.005 Assets not assigned 99.573 Total assets 627.881 346.085 182.224

Liabilities assigned 161.785 65.213 96.572 Liabilities not assigned 38.623 Total liabilities 200.408 65.213 96.572

30/06/2026(*) Total Medical Industrial Changes in fixed assets:

- assigned (15.576) 2.100 (17.677)

- not assigned 608 Total (14.968) 2.100 (17.677)

31/12/2025 Total Medical Industrial Changes in fixed assets:

- assigned 6.199 1.330 4.869

- not assigned 3 Total 6.202 1.330 4.869

(*) The variation in fixed assets is also affected by the application of IFRS 5 as described above.

80 Information on the consolidated Income Statement

Revenues (Note 21)

The breakdown below shows the Group's revenue from contracts with customers as at 30 June 2026 and 202 5:

30/06/2026 30/06/2025 Variation Var. % Total medical systems 185.156.838 164.801.852 20.354.986 12,35% Total industrial systems 13.239.824 15.505.303 (2.265.479) -14,61% Total service 48.057.554 45.595.857 2.461.697 5,40% Total revenue 246.454.216 225.903.012 20.551.204 9,10%

Breakdown of Revenues by geographical areas

Medical sector

30/06/2026 30/06/2025 Variation Var. % Italy 18.801.095 22.282.616 (3.481.521) -15,62% Europe 72.328.927 66.953.937 5.374.990 8,03% Row 136.371.189 116.894.543 19.476.646 16,66% Total revenue 227.501.211 206.131.096 21.370.115 10,37%

Industrial sector

30/06/2026 30/06/2025 Variation Var. % Italy 8.345.755 7.711.197 634.558 8,23% Europe 8.450.685 9.918.164 (1.467.479) -14,80% Row 2.156.565 2.142.555 14.010 0,65% Total revenue 18.953.005 19.771.916 (818.911) -4,14%

Breakdown of revenues based on timing of Revenue Re cognition

30/06/2026 30/06/2025 Variation Var. %

Goods transferred at a specific time 245.463.437 224.166.269 21.297.168 9,50% Services transferred over time 990.779 1.736.743 -745.964 -42,95% Total revenue 246.454.216 225.903.012 20.551.204 9,10%

An overall increase in revenue of approximately 9,1 % was recorded, with a better performance in the me dical sector.

For further details, please refer to the Management Report.

In accordance with IFRS 15, the Group has analysed the timing of fulfilment of its performance obligat ions in order to present a breakdown of revenues between goods/servi ces transferred at a given point in time and goods/ services transferred over time.

The Group's business model does not envisage a sign ificant order portfolio or contracts with multi-yea r execution cycles.

Orders received from customers are generally fulfil led within a short time frame, typically between 3 and 4 months, resulting in rapid satisfaction of the related perf ormance obligations.

Consequently, there are no significant " remaining performance obligations ” at the end of the financial year pursuant to paragraph 120 of IFRS 15, as almost all revenues ar e recognised within a short period of receiving the order.

81 Other income (Note 22)

The analysis of other income is as follows:

30/06/2026 30/06/2025 Variation Var. % Other income due to Insurance refunds 10.891 31.596 (20.705) -65,53% Expense recovery 1.353.716 808.445 545.271 67,45% Capital gains on disposal of fixed assets 78.355 171.547 (93.192) -54,32% Other income 485.697 1.652.983 (1.167.286) -70,62% Total 1.928.659 2.664.571 (735.912) -27,62%

The item “Expense recovery” refers mostly to the re covery of transport costs.

Government grants of 212 thousand euros received by the parent company El.En. SpA were recognised unde r “Other income”.

Purchase of raw materials (note 23)

The analysis of purchases is as follows:

30/06/2026 30/06/2025 Variation Var. % Purchases of raw materials and finished products 107.773.114 96.463.876 11.309.238 11,72% Packaging 2.022.166 1.609.519 412.647 25,64% Shipping charges on purchases 1.457.392 1.074.112 383.280 35,68% Other purchase expenses 875.464 413.584 461.880 111,68% Other purchases 3.721.608 2.203.986 1.517.622 68,86% Total 115.849.744 101.765.077 14.084.667 13,84%

Costs for purchases of goods and related charges as at 30 June 2026 amounted to 115.850 thousand euros , compared with 101.765 thousand euros in the previous financi al year, an increase of approximately 13,8%. Net of changes in inventories, the incidence of cost of goods was 41, 2%, compared to 43,8% in the previous year.

82 Direct services/operating services and charges (24)

The item is broken down as follows:

30/06/2026 30/06/2025 Variation Var. %

Direct services

Outsourced processing 15.447.546 12.535.103 2.912.443 23,23% Technical services on products 299.016 377.379 (78.363) -20,77% Shipment charges on sales 1.224.453 1.121.405 103.048 9,19% Sale commissions 6.711.163 5.851.548 859.615 14,69% Royalties 103.800 122.800 (19.000) -15,47% Travel expenses for technical assistance 124.826 120.684 4.142 3,43% Other direct services 101.182 246.346 (145.164) -58,93% Total 24.011.986 20.375.265 3.636.721 17,85% Other operating services and charges Maintenance and technical assistance on equipment 1.065.168 800.749 264.419 33,02% Commercial services and consulting 1.893.594 1.882.783 10.811 0,57% Legal and administrative services and consulting 1.223.659 835.385 388.274 46,48% Audit fees 154.444 150.187 4.257 2,83% Insurances 675.658 666.892 8.766 1,31% Travel and accommodation expenses 2.664.364 2.358.684 305.680 12,96% Trade shows 3.126.274 3.870.085 (743.811) -19,22% Promotional and advertising fees 1.793.208 2.130.997 (337.789) -15,85% Expenses related to real estate 1.716.806 1.701.713 15.093 0,89% Other taxes 220.597 128.165 92.432 72,12% Vehicles maintenance expenses 927.691 882.178 45.513 5,16% Office supplies 79.332 82.842 (3.510) -4,24% Hardware and Software assistance 1.890.870 1.819.204 71.666 3,94% Bank charges 172.392 183.221 (10.829) -5,91% Leases and rentals 1.015.375 746.599 268.776 36,00% Salaries and indemnity to the Board of Directors an d Board of Statutory Auditors 1.456.839 1.303.040 153.799 11,80% Temporary employment 539.981 373.744 166.237 44,48% Other charges and services 6.280.369 6.646.634 (366.265) -5,51% Total 26.896.621 26.563.102 333.519 1,26%

Operating services and charges amounted to 26.897 t housand euros, substantially unchanged from 26.563 thousand euros as at 30 June 2025.

The increases mainly concern maintenance costs, leg al and administrative services, and leases and rent als.

In the item “Other costs and services”, the main it ems refer to technical/scientific consulting in the amount of EUR 1.686 thousand and studies and research in the amount of EUR 1.141 thousand.

With regard to research and development activities and costs, please refer to what has already been de scribed in the Management Report.

83 Staff costs (Note 25)

This item is broken down as follows:

30/06/2026 30/06/2025 Variation Var. % Wages and salaries 35.352.585 33.519.496 1.833.089 5,47% Social security contributions 9.998.536 9.284.782 713.754 7,69% Severance indemnity 1.127.148 1.238.281 (111.133) -8,97% Staff costs for stock options/stock based compensat ion 511.469 926.865 (415.396) -44,82% Other costs 159.001 178.510 (19.509) -10,93% 47.148.739 45.147.934 2.000.805 4,43%

At EUR 47.149 thousand, staff costs were up from EU R 45.148 thousand in the previous financial year.

As at 30 June 2026, the item ‘personnel costs for stock options / stock-based compensation ’ included the notional costs of stock options granted by the parent company El.E n. SpA to certain group employees.

Depreciation, amortisation and other accruals (note 26)

This item is broken down as follows:

30/06/2026 30/06/2025 Variation Var. % Amortization of intangible assets 510.123 344.548 165.575 48,06% Depreciation of tangible assets 3.205.884 2.865.273 340.611 11,89% Depreciation of tangible assets right of use 999.787 933.651 66.136 7,08% Accrual for bad debts 6.810 1.494.584 (1.487.774) -99,54% Accrual for risks and charges 575.325 288.235 287.090 99,60% Total 5.297.929 5.926.291 (628.362) -10,60%

The decrease in the item was mainly due to the lowe r provision required for the bad debt reserve.

84 Financial income and charges and Exchange gain (los s) (Note 27)

The details of the two items are as follows:

30/06/2026 30/06/2025 Variation Var. %

Financial income

Interest income on bank and postal accounts 935.338 1.212.143 (276.805) -22,84% Financial income - associated companies 1.004 5.909 (4.905) -83,01% Interest income from current securities and financi al assets 58.380 63.497 (5.117) -8,06% Capital gain and other income from current securiti es and financial assets 681.752 169.219 512.533 302,88% Other financial income 130.351 174.727 (44.376) -25,40% Total 1.806.825 1.625.495 181.330 11,16%

Financial charges

Interest on bank debts and on short term loans 11.248 22.492 (11.244) -49,99% Interest on bank debts and on other m/l term loans 1.530 28.740 (27.210) -94,68% Capital losses and other charges on current securit ies and financial assets 6.300 7.270 (970) -13,34% Other financial charges 405.113 209.200 195.913 93,65% Total 424.191 267.702 156.489 58,46% Exchange gain (loss) Exchange gains 1.099.515 1.230.484 (130.969) -10,64% Exchange losses (683.150) (4.597.162) 3.914.012 -85,14% Financial charges fair value on exchange rate deriv atives (Investing) (84.708) (84.708) Total 331.657 (3.366.678) 3.698.335 -109,85%

“Interest expense on bank debts and on short-term l oans” refers mainly to overdrafts granted by Credit Institutions to some Italian and foreign subsidiaries.

The item “other financial charges” includes approxi mately 59 thousand euros of interest expense recogn ised under IAS 19, 92 thousand euros of lease interest expense rec ognised under IFRS 16, and 152 thousand euros for t he fair value of the put option entered into by the subsidiary Ot-La s Srl.

It should be noted that there is no significant amo unt of unpaid or uncollected interest.

85 Other income and charges (note 28)

30/06/2026 30/06/2025 Variation Var. %

Other charges

Impairment of equity investments 888.480 888.480 Total 888.480 0 888.480

The item ‘Impairment of equity investments’ include s the 100% impairment of the investment in Epica In ternational Inc. held by the parent company El.En. SpA.

Income taxes (Note 29)

The tax burden for the period shows an overall expe nse of 13,7 million euros. Taxes for the half-year were calculated based on the best estimate of the expected tax rate s for 2026.

Earnings per share (Note 30)

The weighted average number of shares outstanding d uring the year following the exercise of stock opti ons granted and net of treasury stock held was 80.154.997 ordin ary shares. Earnings per share as at 30 June 2026 i s therefore 0,33 euro. Diluted earnings per share, which also takes into account the stock options granted, amounted to 0,32 euro.

Earnings per share and diluted earnings per share f rom continuing operations as at 30 June 2026, are 0 ,37 and 0,36 euro, respectively.

Dividends distributed (note 31)

The Shareholders' Meeting of El.En. SpA, held on 29 April 2026, resolved to distribute to the shares o utstanding on the ex-dividend date a dividend of 0,25 euros (zero poi nt twenty-five) gross per outstanding share, for a total amount of 20.035.696 euros.

Other components of the statement of comprehensive income (Note 32)

With reference to 30 June 2026, it should be noted that there were no material ‘Other components of th e statement of comprehensive income’.

Non-recurring significant, atypical and unusual eve nts and operations (Note 33)

Pursuant to CONSOB Communication of 28 July 2006 no . DEM/6064293, it should be noted that the Group di d not engage in any significant non-recurring, atypical a nd/or unusual transactions, as defined in the Commu nication itself, during the year and in the previous year.

86 Discontinued operations (note 34)

On 7 August 2026, the subsidiary Ot-las S.r.l., who lly owned by El.En. S.p.A., signed a binding agreem ent with the TRUMPF Group for the disposal of an 80% interest in the share capital of a newly incorporated company wholly owned by Cutlite Penta S.p.A., to which the business unit relating to the activities currently carried out b y Cutlite Penta S.p.A.

in the design and manufacture of high-performance l aser systems for cutting materials, including metal , plastic, wood and dies, will be contributed. Closing is expected within six months of signing the agreement, subject , inter alia, to the fulfilment or, where permitted, waiver of the condi tions precedent.

As this is one of the Group's main business lines, management decided to treat the division as a disco ntinued operation in the half-yearly financial statement as at 30 Jun e 2026.

The following statements show the assets and liabil ities held for sale and the result from discontinue d operations:

Assets 30/06/2026

Intangible assets 16.703 Tangible assets 15.727.939 Other non-current assets 3.926.811 Cash and cash equivalents 8.033.152 Other current assets 74.617.761 Assets held for sale 102.322.366

Liabilities 30/06/2026

Non-current liabilities 18.632.509 Current liabilities 46.401.893 Liabilities directly associated with the assets hel d for sale 65.034.402

Income statement 30/06/2026 30/06/2025 Revenue 54.212.620 97.995.467 Charges -56.971.101 -99.349.293 Financial income (charges) 121.346 -408.454 Other charges -9.500 -56.096 Income (loss) before tax -2.646.635 -1.818.376 Income tax 159.494 -749.627 Income (loss) from Discontinued operations -2.487.141 -2.568.003

Cash flow statement 30/06/2026 30/06/2025 Cash flow generated by operating activity -7.304.53 7 -291.071 Cash flow generated by investing activity 155.308 777.869 Cash flow generated by financing activity 3.227.850 -280.186 Net cash flows -3.921.379 206.612

87 Related party disclosures (Note 35)

All ordinary transactions with related parties took place at ordinary market conditions.

In particular, we highlight the following:

Subsidiaries

As a rule, reciprocal transactions and balances bet ween Group companies included in the scope of conso lidation are eliminated when the consolidated financial statemen t is prepared; therefore, they are not described he re.

Associated companies

All debt and credit relationships, all costs and re venues, all loans and any guarantees granted to aff iliated companies during the first six months of 2026, are set out cl early and in detail.

Transfer prices are established with reference to w hat normally occurs on the market. The aforemention ed intra-group transactions, therefore, reflect the trend in marke t prices, from which they may slightly differ depen ding on the Group’s business policies.

The following tables analyse the transactions with associated companies during the period, both at the level of trade and at the level of debit and credit balances.

Financial receivables/other receivables Accounts receivable Associated companies: < 1 year > 1 year < 1 year > 1 year Actis Srl 32.400 7.014 Immobiliare Del.Co. Srl 31.565 Elesta SpA 214.748 With Us Co Ltd 12.967 86.449 Penta Laser Zhejiang Co., Ltd 899 942.909

- provision deval. associate company receivables - 726.409 Total 77.831 86.449 438.262 -

Financial Payables Other payables Accounts Payable Associated companies: < 1 year > 1 year < 1 year > 1 year < 1 year > 1 ye ar With Us Co Ltd 14.952 Penta Laser Zhejiang Co., Ltd - 232.357 Total - - - - 247.309 -

Associated companies: Sales Service Total Elesta SpA 351.143 30.664 381.807 Penta laser Tech Shangdong (Linyi) 120.300 120.300 Total 471.443 30.664 502.107

Associated companies: Other revenues Elesta SpA 4.311 Actis Srl 600

Total 4.911

Associated companies: Purchase of raw materials Services Other Total With Us Co. Ltd 6.373 100.037 106.410 Total 6.373 100.037 - 106.410

The figures of the tables above refer to transactio ns concerning the company’s ordinary operations.

88 The table below shows the impact of related party t ransactions on the group's economic and financial p osition.

Impact of related parties transactions Total related parties Inc % Impact of related parties transactions on the statement of fi nancial

position

Equity investments 5.647.858 5.509.591 97,55% Receivables LT 322.591 86.449 26,80% Accounts receivable 80.086.163 438.262 0,55% Other current receivables 17.286.657 77.831 0,45% Non current financial liabilities 5.407.077 - 0,00% Current financial liabilities 5.536.410 - 0,00% Accounts payable 62.502.177 247.309 0,40% Other current payables 36.997.233 - 0,00% Other non current liabilities 801.385 - 0,00%

Impact of related parties transactions on the incom e statement Revenues 246.454.216 502.107 0,20% Other revenues and income 1.928.659 4.911 0,25% Purchase of raw materials 115.849.744 6.373 0,01% Direct services 24.011.986 - 0,00% Operating services and charges 26.896.621 100.037 0,37% Financial charges 424.191 - 0,00% Financial income 1.806.825 1.004 0,06% Income taxes 13.702.609 - 0,00%

89 Risk factors and procedures for the management of f inancial risks (Note 36)

Procedures for the management of financial risks The Group's main financial instruments include curr ent accounts and short-term deposits, short-term an d long-term financial liabilities, financial leases, securities and hedging derivatives.

Besides these, the Group has trade receivables and accounts payable arising from its operations.

The main financial risks the Group is exposed to co ncern exchange rate, credit, liquidity and interest rate.

Exchange rate risk The Group is exposed to the risk of fluctuations in the exchange rates of the currencies in which some commercial and financial transactions are carried out. Said risks are monitored by management who implement the neces sary measures to limit the risk.

Since the Parent Company prepares its consolidated financial statements in euros, fluctuations in the exchange rates used to convert the financial statement data of sub sidiaries originally expressed in foreign currencie s could adversely affect the Group's results, consolidated financial position and consolidated shareholders' equity as e xpressed in euros in the Group's consolidated financial statements.

The parent company El.En. SpA entered into forward contracts during 2026 to partially hedge exchange-r ate risk on cash held in foreign currencies.

Operation Notional value Fair value Currency rate swap $12.000.000 -€ 84.708 Total $12.000.000 -€ 84.708

Credit risk

As far as business transactions are concerned, the Group deals with counterparts on which the appropri ate checks are carried out prior. Furthermore, the balance of rece ivables is monitored during the financial year so t hat the amount of loss exposure is not significant. Historically reco rded losses on receivables are therefore low in rel ation to turnover and do not require to be appropriately hedged and/or co vered by insurances. There are no significant conce ntrations of credit risk within the group. The provision for bad debts accrued at the end of the period represents 6% of total accounts receivable from third parties. For an analysis of o verdue receivables from third parties, please refer to the relevant note in the Consolidated Financial Statement.

Concerning guarantees given to third parties:

El.En. SpA issued in July 2021 a guarantee in favou r of Cutlite Penta Srl (now SPA) on the EUR 11 mill ion loan granted by Intesa San Paolo.

During the 2025 financial year, on the occasion of the contract signed for the disposal of the equity investment in PLZ, Ot-las Srl provided a guarantee in relation to cert ain findings that emerged during the due diligence process conducted by YOFC, for which a maximum indemnity limit of up to 10% of the price paid is provided, as well as no compensation limit for certain specific cases that could give ri se to indemnities. Furthermore, the parent company El.En. SpA also provided a second-level guarantee, should the guara ntee provided by Ot-las become operative and Ot-las be found to be in default.

The subsidiary ASA S.r.l. signed a loan agreement t o finance the construction of the new establishment by taking out a mortgage for a total value of EUR 4,8 million.

The German subsidiary Asclepion signed a loan agree ment during 2018 to finance the construction of the new factory, taking out a mortgage for a total value of 4 millio n euros.

The German subsidiary Lasit Laser Deutschland recei ved various bank guarantees totalling EUR 45 thousa nd for the purchase of company vehicles and down payments rece ived from customers.

90 Liquidity and interest rate risk With regard to the group's exposure to liquidity an d interest rate risk, it should be noted that the g roup's liquidity is still high, sufficient to cover existing indebtedness and with a largely positive net financial position. Th at is why said risks are deemed to be adequately covered.

During 2026, subsidiary Cutlite Penta Srl entered i nto a forward contract to partially hedge the inter est rate risk on a loan.

Operation Notional value Fair value Interest rate swap €2.500.000 -€ 8.599 Total €2.500.000 -€ 8.599

Capital management

The objective of the company's capital management i s to ensure that a low level of indebtedness is mai ntained and that a proper capital structure is in place to support t he business and ensure an adequate Equity/Indebtedn ess ratio.

Financial Instruments (Note 37)

Fair value

Below is a comparison of the book value and fair va lue by category of all of the Group's financial ins truments:

Book value Book value Fair value Fair value 30/06/2026 31/12/2025 30/06/2026 31/12/2025

Financial assets

Equity investments in other companies 138.267 1.059.162 138.267 1.059.162 Non current financial receivables 322.591 349.090 322.591 349.090 Current financial receivables 793.421 722.275 793.421 722.275 Securities and other non-current financial assets 11.106.255 11.108.839 11.106.255 11.108.839 Securities and other current financial assets 58.928.697 37.080.000 58.928.697 37.080.000 Cash and cash equivalents 136.614.393 174.359.822 136.614.393 174.359.822

Financial debts and liabilities Non current financial liabilities 5.407.077 17.304.417 5.407.077 17.304.417 Current financial liabilities 5.536.410 20.765.512 5.536.410 20.765.512

Fair value - hierarchy

The Group uses the following hierarchy to determine and document the fair value of financial instrumen ts based on

measurement techniques:

Level 1: quoted prices (unadjusted) in an active ma rket for identical assets or liabilities;

Level 2: other techniques for which all inputs that have a significant effect on the recorded fair val ue are observable, either directly or indirectly;

Level 3: techniques using inputs that have a signif icant effect on recorded fair value that are not ba sed on observable market data.

91 As at 30 June 2026, the Group held the following se curities measured at fair value:

Level 1 Level 2 Level 3 Total Investment contracts 10.903.608 10.903.608 Mutual funds/Bonds 58.928.697 58.928.697 Currency rate swap -84.708 -84.708 Put option 202.647 202.647 Net value assets/liabilities from discontinued oper ations 37.287.964 37.287.964 Other equity investments 138.267 138.267 Total 58.928.697 10.818.900 37.628.878 107.376.475

The item ‘Net value of assets and liabilities from discontinued operations’ relates to the assets and liabilities of the Cutlite business unit classified as held for sale a s at 30 June 2026. The related fair value, determin ed on the basis of the available information concerning the disposal trans action and assumptions that are not directly observ able in the market, is classified within Level 3 of the fair-va lue hierarchy.

Other information (Note 38)

Average number of employees

Average of the period 30/06/2026 Average of

previous

period 31/12/2025 Variation Var. % Total 1.427 1.441 1.746 1.412 29 2,05%

Subsequent events (Note 39)

On 21 July 2026, the employment relationship betwee n the parent company El.En. S.p.A. and Eng. Paolo S alvadeo, the Company's General Manager, came to an end. The term ination followed the resignation submitted by Eng. Salvadeo on 30 April 2026, which had already been disclosed to the market, and expiry of the relevant notice perio d. On the same date, the Company allocated 19.000 treasury shares to Eng. Salvadeo in accordance with the Stock Grant Plan 2025-

2028, vested with reference to the 2025 financial y ear and subject to a four-year lock-up under the te rms of the Plan.

The allocation was made in accordance with the 2024 -2026 Remuneration Policy approved by the Sharehold ers' Meeting and published on the Company's website.

On 7 August 2026, Ot-las S.r.l., a wholly owned sub sidiary of El.En. S.p.A., signed a binding agreemen t with the TRUMPF Group, through TRUMPF International Beteiligungs-SE , based in Ditzingen, Germany, for the disposal of an 80% interest in the share capital of a newly incorporated compan y wholly owned by Cutlite Penta S.p.A., to which th e business unit relating to the activities currently carried out by Cutlite Penta S.p.A. in the design and manufacture of high-performance laser systems for cutting materials, including meta l, plastic, wood and dies, will be contributed.

The transaction forms part of the process of enhanc ing and developing the Cutlite Penta business unit, with the aim of enabling it to benefit from the international posit ioning, sales and service network, and industrial e xpertise of TRUMPF, a German group operating worldwide and a leader in machine tools and lasers for industrial application s. El.En. believes that retaining a 20% interest will enable the Group to continue supporting the company's growth path w hile accompanying its development within a long-term ind ustrial partnership.

The agreement provides for TRUMPF initially to acqu ire an 80% interest in the share capital of the tra nsferee company, while the El.En. Group will retain a residual 20% i nterest for several years. The transaction structur e provides for Cutlite Penta S.p.A. to contribute the business unit concer ned to the newly incorporated company in advance, t ogether with the equity investments and assets specified in the final contractual documentation.

The maximum aggregate consideration for the disposa l of 80% of the share capital of the transferee com pany is approximately 21 million euros, payable in cash as provided for in the agreement: approximately 13 mil lion payable at closing; the remainder to be determined on the basi s of the financial statement as at 31 December 2029 and in accordance with the price-adjustment clauses.

92 The consideration was determined on the basis of th e value attributed to the business unit being sold, taking into account, inter alia, the available financial data, the transaction structure, the assets and equity in vestments to be contributed, and the outcome of the due-diligence p rocess conducted by the purchaser. The agreement pr ovides for price-adjustment mechanisms and specific representa tions, guarantees and indemnity obligations, with l imits, deductibles, thresholds and caps.

Shareholders' agreements are also envisaged concern ing the post-closing governance of the transferee c ompany and the rules governing the residual interest held by t he El.En. Group, including transfer restrictions an d further rights and obligations of the parties as agreed.

Completion of the transaction is subject to fulfilm ent of the specific conditions precedent set out in the agreement and completion of the procedure before the Italian Pres idency of the Council of Ministers pursuant to Ital ian Decree-Law of 15 March 2012, no. 21, as amended, concerning the G overnment's special powers, the so-called Golden Po wer. The transaction also remains subject, where applicable, to obtaining any additional regulatory approvals r equired for its completion.

Closing is expected within six months of signing th e agreement, subject, inter alia, to the fulfilment or, where permitted, waiver of the conditions precedent. The Company wil l inform the market of completion of the transactio n and any further material developments within the time limit s and in the manner prescribed by the applicable re gulations.

Upon completion of the transaction, the transferee company being sold will no longer be fully consolid ated within the El.En. Group, in accordance with the applicable acc ounting standards.

As at 31 December 2025, under IFRS accounting stand ards the business unit being sold reported revenues of 121,7 million euros, EBIT of 1,9 million euros, net incom e of 14 thousand euros and a negative net financial position of 16,3 million euros. The expected disposal value may resu lt in a consolidated gross capital gain or capital loss, to be determined on the basis of the carrying amounts at the closing date, the effect of the price-adjustmen t mechanisms, the indemnity obligations, the differing book value of the equity investments and the applicable tax e ffects. Based on the business plans prepared for the activities bein g sold and their effect on the price-adjustment cla uses, an overall capital loss of approximately 4 million euros can c urrently be reasonably expected. The Group's net fi nancial position will be further strengthened by receipt of the disp osal consideration and deconsolidation of net finan cial liabilities of approximately 16 million euros.

For The Board of Directors The Managing Director – Eng. Andrea Cangioli

93 Declaration of the condensed half-yearly financial st atement as at 30 June 2026 in conformity with Art. 81- ter of CONSOB Regulation No. 11971 of 14 May 1999 and subsequent amendments and additio ns

1. The undersigned Andrea Cangioli, in his capacity as Managing Director, and Enrico Romagnoli, in his capacity as Executive Officer responsible for the preparation o f the financial statements of El.En. S.p.A. attest, also taking into account the provisions of Article 154- bis , paragraphs 3 and 4, of Italian Legislative Decree of 24 February 1998, no. 58:

- the adequacy in relation to the characteristics of the company and

- the effective application of the administrative and accounting procedures for preparing the condensed half-

yearly financial statement during the six-month per iod ended 30 June 2026.

2. No major issues emerged in this regard

3. It is further attested that:

3.1 the consolidated condensed half-yearly financia l statement:

a) is prepared in accordance with the applicable in ternational accounting standards recognised in the European Community pursuant to Regulation (EC) No. 1606/2002 of the European Parliament and of the Council of 1 9 July

2002;

b) corresponds to the entries in the accounting boo ks and records;

c) is capable of giving a true and fair view of the assets and liabilities, economic and financial pos ition of the issuer and of the group of companies included in the conso lidation.

3.2 The interim management report includes a reliab le analysis of the references to the significant ev ents that occurred in the first six months of the financial year and t o their impact on the condensed half-year financial statement, together with a description of the main risks and uncertaint ies for the remaining six months of the financial y ear. The interim management report also includes a reliable analysis of information on significant transactions with re lated parties.

Calenzano, 10 September 2026

The Managing Director The Executive officer resp onsible for the preparation of the financial statements Eng. Andrea Cangioli Enrico Romagnoli

EY S.p.A.

Sede Legale: Via Meravigli, 12 – 20123 Milano Sede Secondaria: Via Lombardia, 31 – 00187 Roma Capitale Sociale Euro 3.000.000 i.v.

Iscritta alla S.O. del Registro delle Imprese presso la CCIAA di Milano Monza Brianza Lodi Codice fiscale e numero di iscrizione 00434000584 - numero R.E.A. di Milano 606158 - P.IVA 00891231003 Iscritta al Registro Revisori Legali al n. 70945 Pubblicato sulla G.U. Suppl. 13 - IV Serie Speciale del 17/2/1998

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