Ariston N : INVESTOR PRESENTATION - JULY 10, 2023

ARISTON GROUP

INVESTOR

PRESENTATION

July 10th, 2023

TABLE OF CONTENTS

1. ARISTON GROUP OVERVIEW
2. DESCRIPTION OF THE GROUP
3. SUSTAINABILITY
4. FINANCIAL PERFORMANCE
5. MID-TERMGUIDANCE
   APPENDIX

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1. ARISTON GROUP OVERVIEW

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ARISTON GROUP IN NUMBERS

2022

€2.4B REVENUES

(€3.1B PRO-FORMA1)

44 : 56

PROPORTION OF RENEWABLE VS. FOSSIL FUEL PRODUCTS IN EUROPE (TARGET: 60 : 40 IN 2025)

2022

€223M ADJ. EBIT

(€286M PRO-FORMA1)

AND 9.4% (9.3%1) MARGIN

#28

PRODUCTION SITES AND

#30 R&D CENTERS1

43

COUNTRIES OF DIRECT PRESENCE AND 150+ COUNTRIES SERVED

#18

LARGE M&A AND BOLT ON ACQUISITIONS SINCE 2014

Note: figures adjusted for non recurring events or transactions, restructuring or employment termination agreements, other events not representative of normal	4
business operations. 1Pro-forma figures including Wolf-Brink, consolidated from January 2, 2023

A GLOBAL COMPANY WITH STRONG LOCAL ROOTS

Aristide Merloni founds the Industrie Merloni in the Marche Region, in Italy, starting the production of weighing scales.

In the Eighties, the company enters the heating sector and sets up up subsidiaries in Eastern Europe and Asia. In the Nineties, it acquires Racold, the largest water heating company in India, and opens its first factory in China.

In 2011, the company confirms its leadership in Switzerland by acquiring Cipag SA and Domotec AG. In 2013, it finalises the acquisition of DhE, an Italian leader in heating components.

The company acquires NTI, among the leaders in the condensing boiler segment in Canada and USA. In the same year, historical Arcevia and Osimo plants win the World Class Manufacturing bronze medal.

The company reaches an agreement with Whirlpool for the reindustrialisation of the Albacina site, to establish a competence centre for renewaables. Brand wise, the Company launches "The Ariston Comfort Challenge", the first Ariston global campaign.

The company celebrates the 90th Anniversary since its foundation.

The company finalizes the acquisition of Chromagen, a leading Israeli water heating player with solid footprint in Australia.

In the Sixties the company starts the production of gas cylinders and electric water heaters. In the Seventies, a period of intense growth, it creates the Ariston brand.

The company pursues a remarkable growth by acquiring historical companies and brands such as Chaffoteaux, ELCO, Cuenod and Ecoflam.

In 2014 the company acquires ATAG, a Dutch high-end brand in the heating industry, and South African water heating player Heat Tech Geysers. In the same year, it inaugurates a new plant in Vietnam. In 2015 it opens a new branch in Indonesia and debuts on the Danish market with the acquisition of Gastech-Energi A/S.

The company establishes a R&D centre dedicated to renewable and high-efficiency solutions nearby the Milan headquarters, in Italy. Investments continue with the acquisition of HTP, a well-established brand on the US, and of Atmor, an Israeli water heating company.

The company signs an agreement of Calorex, a leading company in Mexico that is the authorized licensee of the American Standard brand in the USA. In the same year, its Italian plant in Cerreto D'Esi, receives the World Class Manufacturing (WCM) bronze medal.

The company changes its name to Ariston Group. In the same year, it signs an agreement for the acquisition of Chromagen. It is again in 2021 that Ariston Group lists on Euronext Milan.

2023

The company finalizes the acquisition of CENTROTEC Climate Systems*, pioneer of new-generation high- efficiency heat pumps, successfully operating in domestic ventilation and air- handling and with a solid positioning in Europe.

*CENTROTEC Climate Systems now called Wolf-Brink

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