--- title: "FY 2025 Results Presentation" period: "2025-fy" kind: "results-presentation" source_url: "https://corporate.amplifon.com/content/dam/amplifon/archive/en/investors/presentations-webcast/2026/FY-2025-Results-Presentation.pdf" downloaded_at: "2026-06-06" pdf_sha256: "3d3c5a835f9fb94e0dd0369ea7fa94850696731fca74abd10937957a3dc3b12b" pdf_size_bytes: 682051 extractor: "pdfjs-dist-6.0.227" --- Q4 & FY 2025 Results th Milan, March 4 2026 --- Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”), and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bound by the following terms and conditions. The Information is confidential and may not be reproduced, redistributed, published or passed on to any other person, directly or indirectly, in whole or in part, for any purpose. The Information contains forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the Information or the opinions contained therein. The Information has not been independently verified and will not be updated. The Information, including but not limited to forward-looking statements, applies only as of the date of this document and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the Information, including any financial data or forward- looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document. This Information does not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein. Statement In compliance with Article 154 bis of the “Uniform Financial Services Act” (Legislative Decree 58/1998), the Financial Reporting Officer, Gabriele Galli, declares that the accounting information reported in this presentation corresponds to the underlying documentary reports, books of account and accounting entries. Non-IFRS and Alternative Performance Measures This document contains certain Alternative Performance Measures (APMs) used by management to monitor the underlying economic, financial and operating performance of the Group, which are not defined by IFRS. Since the composition of such APMs is not regulated by the reference accounting principles, similarly entitled non-IFRS APMs reported by other companies may not be calculated in an identical manner and, consequently, may not be comparable. The APMs (i) are derived from historical results of Amplifon; (ii) are non-IFRS financial measures and, although derived from the financial statements, are unaudited; and (iii) are not an alternative to financial measures prepared in accordance with IFRS. The APMs presented herein include EBITDA, EBITDA adjusted, EBIT adjusted, Profit before tax (PBT) adjusted, Net profit adjusted, Earnings per share (EPS) adjusted and Free Cash Flow. These APMs exclude the effect of unusual, infrequent or unrelated items to the normal course of business as the impact of these events might affect the understanding of the Group’s underlying performance. Definition of unusual, infrequent and unrelated items and reconciliation to IFRS Financial Statements Measures are provided in the Annex. Figures in the tables may reflect minimal differences exclusively due to rounding. © Amplifon S.p.A. 2 th March 4 , 2026 --- FY 2025 Highlights A solid performance in a global market growing below historical levels. Material improvement in organic growth in H2. Fit4Growth ahead of initial plan Revenues EBITDA Adjusted Net Profit Adjusted 540m€ 159m€ 2,396m€ +1.7% at K FX vs FY 2024 Margin at 22.6% Margin at 6.6% Flat organic growth Leverage Fit4Growth program Free Cash Flow Adjusted ahead of plan 1.92x 174m€ +150-200bps run-rate NFP at 1,045m€ vs. 962m€ at YE 24 improvement in Adjusted EBITDA after >350m€ of investments, including: vs. €182m FY 2024 margin by 2027 M&A cash-out: ~250 clinics & 62m€ now expected in the high-end Share buyback: 108m€ of the range © Amplifon S.p.A. 3 th March 4 , 2026 --- Fit4Growth implementation ahead of initial plan Key initiatives at global level NETWORK EFFICIENCY BACK-OFFICE COST CONTAINMENT STRATEGIC REVIEW OF FIT4GROWTH ENHANCEMENT EFFICIENCY PROGRAM BUSINESS SEGMENTS  Network optimization  Optimization of back-office  Short-term G&A cost  Strategic review of SYNERGIES (targeted consolidation & processes and reduction business segments’ selective closure of non- organizational efficiency attractiveness and performing locations) Amplifon’s competitive  Rigorous projects positioning prioritization with a laser  Optimization of in-store focus on high-ROI processes investments  160 closures across 10  ~100 HC efficiencies in  €30 million Capex  Divesture of diluitive UK FY 2025 countries & ~400 HC 2025 reduction in 2025 vs. 2024 business ACHIEVEMENTS & efficiencies in 2025 PLAN  Additional efficiencies and  Further Capex reduction  Rationalization of non-core  Additional efficiencies and optimizations identified (up expected for 2026 wholesale in China optimizations identified (up to ~300 HC in total)  Termination of a managed to ~650 HC in total) care agreement upon expiration  YE 2025 onwards  YE 2025 onwards  YE 2025 onwards  2026 & 2027 TIMELINE +150-200bps run-rate improvement in Adjusted EBITDA margin by 2027 now expected in the high-end of the range with reduced one-off cash-costs now in the region of ~€25m © Amplifon S.p.A. 4 th March 4 , 2026 --- Portfolio optimization: UK divesture & managed care agreement termination Focus on high-potential, profitable growth segments Termination of a managed care agreement Divesture of the dilutive UK business upon expiration UK Business Agreement  ~100 clinics across England & Wales  Termination of a managed care agreement with an  ~260 employees insurance customer of AHHC in the US  ~€33 million revenues in 2025  In the region of 1% of Group sales Timing Timing nd  Closing on March 2 , 2026 st  Expiration on December 31 , 2025 Rationale Rationale  Limited scale and very dilutive profile  Rigorous pricing and profitability discipline to ensure sustainable profitable growth Financial impact • Perspective terms not aligned to Amplifon’s profitability objectives  Positive contribution to Amplifon Group’s adjusted • Lower growth & attractiveness of the managed care EBITDA margin segment in the US  One-off costs with no cash flow impact of ~€18 million in Q1 2026 related to foreign currency translation Financial impact reserve transferred to income statement  Strategic resizing of the managed care business toward a more diversified customer base  No-one off costs © Amplifon S.p.A. 5 th March 4 , 2026 --- FY 2025 Financial highlights Performance reflecting market growth below historical levels and a high comparison base. Significant improvement in organic growth in H2. Increasing FX headwind  Revenue growth at constant FX at +1.7% vs. FY 2024 Data in €m FY 2025 FY 2024 Δ%  Flat organic performance, significantly improving in H2 - High comparison base (+7% KFX growth in FY 24 vs. FY 23) 2,395.7 2,409.2 -0.6% REVENUES  Global market demand below historical levels +0.0% Organic growth - US private market flat, reflecting a positive private pay segment (+1.5%) while declining insurance segment (-3%) +1.7% M&A/Perimeter change - European market reflecting consumer caution -2.3% FX  M&A/Perimeter change: +1.7% - M&A primarily in France, Germany, Poland, the US, and China 540.4 566.1 -4.5% EBITDA Adjusted (~250 clinics acquired in FY 25) 22.6% 23.5% -90 bps Margin % - Perimeter change related to Fit4Growth: selected closure of non-performing locations (~160 overall clinics closed in FY 25) and significant rationalization of non-core wholesale business in China  FX headwind at -2.3% increasing throughout the year  Adjusted EBITDA at €540.4 million, with margin at 22.6%  Lower operating leverage  Dilution effect of fast growth of Miracle-Ear Direct Retail  Less favorable country mix in EMEA  Higher marketing investments to further strengthen our distinctive assets © Amplifon S.p.A. 6 th March 4 , 2026 --- Q4 2025 Financial highlights Back to positive organic performance across all regions. Lower M&A/perimeter change due to Fit4Growth. Material FX headwind  Revenue growth at constant FX at +1.4% vs. Q4 2024 Data in €m Q4 2025 Q4 2024 Δ%  Organic growth at 0.6%, positive across all regions  Global market growth still below historical levels REVENUES 651.9 664.4 -1.9% - In the US, flattish private market, with declining insurance segment +0.6% Organic growth - In Europe, strong volume growth in France, while the rest of the region still below historical levels +0.8% M&A/Perimeter change - In APAC, soft market trends driven by consumer caution -3.3%  M&A/Perimeter change at +0.8% reflecting Fit4Growth execution FX - M&A at +1.3% primarily for carryover from bolt-ons in previous EBITDA Adjusted 145.5 154.4 -5.8% quarter - Perimeter change related to Fit4Growth at –0.5%: carryover from Margin % 22.3% 23.2% -90 bps 9M and further selected closure of non-performing locations globally  Material and increasing FX headwind due to EUR appreciation vs. USD, AUSD & NZD  Adjusted EBITDA of €145.5 million, with margin at 22.3%  Lower operating leverage  Dilution effect of fast growth of Miracle-Ear Direct Retail  Higher marketing investments to further strengthen our distinctive assets © Amplifon S.p.A. 7 th March 4 , 2026 --- Financial results by Region EMEA: Significant trend improvement in both organic growth and profitability. Lower M&A/perimeter change contribution for Fit4Growth  Revenue growth at constant FX at +1.6% vs. Q4 2024 Data in €m Q4 2025 Q4 2024 Δ%  Positive organic performance, improving sequentially REVENUES 436.4 429.6 +1.6%  M&A/Perimeter change at +1.2% - M&A primarily in France, Germany and Poland Organic growth +0.4% - Perimeter change related to Fit4Growth: selected closure of non- M&A/Perimeter performing locations in France, Spain and Germany +1.2% change  Strong & above-market volume growth in France, solid organic FX 0.0% growth in Spain, Germany in negative territory EBITDA Adjusted 107.5 107.5 0.0%  Adjusted EBITDA of €107.5 million, with margin at 24.6%  Lower operating leverage Margin % 24.6% 25.0% -40 bps  Revenues up +1.4% at constant FX vs FY 2024 Data in €m FY 2025 FY 2024 Δ%  Slightly negative organic performance in a soft market REVENUES 1,554.7 1,531.3 +1.5% environment, significantly improving in H2  M&A/Perimeter change: +2% Organic growth -0.6% - M&A primarily in France, Germany and Poland M&A/Perimeter +2.0% - Perimeter change related to Fit4Growth: selected closure of non- change performing locations in France, Spain and Germany FX +0.1%  Adjusted EBITDA at €412.8 million, with margin at 26.6% EBITDA Adjusted 412.8 417.5 -1.1%  Lower operating leverage  Less favorable country mix Margin % 26.6% 27.3% -70 bps © Amplifon S.p.A. 8 th March 4 , 2026 --- Financial results by Region AMERICAS: Positive organic growth despite market below historical levels and a remarkable comparison base. Significant and increasing FX headwind  Revenue growth at constant FX at 2% vs. Q4 2024 Data in €m Q4 2025 Q4 2024 Δ%  Positive organic growth - Strong comparison base in the US (double digit organic growth in US in REVENUES 129.7 140.9 -7.9% Q4 24 vs. Q4 23) Organic growth +0.9%  Slightly negative US private market, reflecting a declining insurance segment M&A/Perimeter  M&A/Perimeter change: +1.1% +1.1% change - M&A primarily in the US, +24 clinics in Arizona in April FX -9.9% - Perimeter change related to Fit4Growth: carryover from 9M selected closure of non-performing locations in the US, Canada & Mexico EBITDA Adjusted 33.8 37.8 -10.6%  Material FX headwind driven by USD depreciation vs. EUR Margin % 26.0% 26.8% -80 bps  Strong performance of Miracle-Ear Direct Retail  Adjusted EBITDA of €33.8 million, with margin at 26%, improving trend vs. 9M  Lower operating leverage  Dilution effect due to the fast growth of Miracle-Ear Direct Retail  Revenue growth at constant FX at +4% vs. FY 2024 Data in €m FY 2025 FY 2024 Δ%  Solid and above-market organic growth, despite remarkable REVENUES 495.8 507.3 -2.3% comparison base (+10.6% organic growth in FY 2024 vs. 2023)  Flat US private market in FY 2025, reflecting a declining insurance Organic growth +1.9% segment M&A/Perimeter +2.1%  FX headwind increasing throughout the year change  Adjusted EBITDA at €116.4 million, with margin at 23.5% FX -6.3%  Lower operating leverage EBITDA Adjusted 116.4 126.9 -8.3%  Dilution effect due to the fast growth of Miracle-Ear Direct Retail Margin % 23.5% 25.0% -150 bps © Amplifon S.p.A. 9 th March 4 , 2026 --- Financial results by Region APAC: Significant improvement in organic performance in a still soft market context. Negative M&A/perimeter change related to Fit4Growth. Significant and increasing FX headwind  Flattish revenue performance at constant FX vs. Q4 2024 Data in €m Q4 2025 Q4 2024 Δ%  Organic performance at +0.8%, improving 270bps vs Q3 REVENUES 85.8 93.9 -8.7%  Soft market developments on consumer caution  M&A/Perimeter change at -1.1% related to Fit4Growth (carryover Organic growth +0.8% from 9M and selected closures of non-performing locations in Q4) M&A/Perimeter  Material -8.4% FX headwind driven by depreciation of all regional -1.1% change currencies vs. EUR FX -8.4%  Solid and above-market organic growth in Australia more than offsetting negative performance in New Zealand and China EBITDA Adjusted 20.9 23.8 -12.2%  Adjusted EBITDA at €20.9 million, with margin at 24.4% Margin % 24.4% 25.4% -100 bps  Lower operating leverage  Higher marketing investments to further strengthen our distinctive assets  Revenue performance at constant FX at -0.4% vs. FY 2024 Data in €m FY 2025 FY 2024 Δ%  Flattish and above-market organic growth in a negative market REVENUES 345.2 370.3 -6.8% environment and vs. a strong comparison base (+8.4% growth at constant FX in FY 2024 vs. 2023) Organic growth -0.3%  M&A/Perimeter change: -0.1% M&A/Perimeter - M&A primarily in China and Australia -0.1% change - Perimeter change related to Fit4Growth: selected closures of non- FX -6.4% performing across the region and significant rationalization of non- core wholesale business in China EBITDA Adjusted 85.9 97.1 -11.5%  FX headwind of -6.4%, increasing throughout the year Margin % 24.9% 26.2% -130 bps  Adjusted EBITDA at €85.9 million, with margin at 24.9%  Lower operating leverage © Amplifon S.p.A. 10 th March 4 , 2026 --- FY 2025 Financial results Performance reflecting global market growth below historical levels. Dividend proposal at 29-euro cents Data in €m FY 2025 FY 2024 ∆ 25/24 (unless specified) REVENUES 2,395.7 2,409.2 -0.6% EBITDA Adj. 540.4 566.1 -4.5% Margin % 22.6% 23.5% -- D&A (259.1) (252.2) -2.7% EBIT Adj. 281.3 313.8 -10.4% Margin % 11.7% 13.0% -- NET FINANCIAL EXPENSES (63.7) (59.2) -7.6% PBT Adj. 217.6 254.7 -14.5% Taxes (58.3) (66.3) +12.2% % on PBT 26.8% 26.1% -- Net Profit Adj. 159.2 188.1 -15.4% Margin % 6.6% 7.8% -- EPS Adj. (€) 0.715 0.833 -14.1% Financial data excluding usual, infrequent or unrelated items (income and expenses) affecting the Group's operating/underlying performance. Definitions and reconciliation to IFRS Financial Statements Measures provided in Annex. © Amplifon S.p.A. 11 th March 4 , 2026 --- Q4 2025 Financial results Revenues reflect global market growth still below historical levels, material FX headwind and temporary M&A reduction. Profitability to benefit from Fit4Growth from 2026 Data in €m Q4 2025 Q4 2024 ∆ 25/24 (unless specified) REVENUES 651.9 664.4 -1.9% EBITDA Adj. 145.5 154.4 -5.8% Margin % 22.3% 23.2% -- D&A (63.3) (69.5) +8.9% EBIT Adj. 82.2 84.9 -3.2% Margin % 12.6% 12.8% -- NET FINANCIAL EXPENSES (15.5) (15.5) -0.3% PBT Adj. 66.7 69.4 -4.0% Taxes (17.0) (15.6) -9.5% % on PBT 25.6% 22.4% -- Net Profit Adj. 49.5 53.8 -7.9% Margin % 7.6% 8.1% -- EPS Adj. (€) -5.9% 0.225 0.239 Financial data excluding usual, infrequent or unrelated items (income and expenses) affecting the Group's operating/underlying performance. Definitions and reconciliation to IFRS Financial Statements Measures provided in Annex. © Amplifon S.p.A. 12 th March 4 , 2026 --- FY 2025 Financial results Very strong free cash flow adjusted at 174 million euros Data in €m FY 2025 FY 2024 ∆ Operating cash flow before repayment of lease liabilities adjusted (*) 428.4 456.0 (27.6) Repayment of lease liabilities (137.3) (129.0) (8.3) Operating cash flow adjusted (*) 291.2 327.1 (35.9) Capex (net) (116.7) (145.0) 28.3 Free cash flow adjusted (*) 174.4 182.0 (7.6) Free cash flow 159.9 175.9 (15.9) Acquisitions (net) (62.2) (192.5) 130.3 Cash provided by (used in) operating and investing activities 97.7 (16.7) 114.3 Cash provided by (used) financing activities (174,4) (87.6) (86.8) Net cash flow for the period (76,8) (104.3) 27.5 Net financial position (opening date) (961.8) (852.1) (109.7) Change in net financial position (76.8) (104.3) 27.5 Effect of FX, HFS & Deconsolidation NFP (6.9) (1.5) (5.4) Net financial position (closing date) (1,045.5) (961.8) (83.7) (*) Adjusted from unusual, infrequent or unrelated items for €14.5m (€6.2m in FY 2024) © Amplifon S.p.A. 13 th March 4 , 2026 --- FY 2025 Financial results Leverage at 1.92x, after significant investments of >350 million euros in Capex, M&A cash-out, share buyback and dividends Data in €m 31/12/2025 31/12/2024 (308.9) (288.8) Liquidity 366.4 290.3 Short-term debt 988.0 960.4 Medium/long-term debt 1,045.5 961.8 Net financial debt 486.3 514.3 Lease liabilities 1,531.8 1,476.1 Total financial debt & lease liabilities 998.5 1,150.2 Total net equity 1 1.92x 1.63x Net debt/EBITDA 1.05x 0.84x Net debt/Equity 1. Refers to the EBITDA recorded in the last 4 quarters determined excluding the fair value of the share-based payments and based only on the recurring business © Amplifon S.p.A. 14 th March 4 , 2026 --- Our commitment to a more sustainable future 2025 main achievements Global Top Employer ESG finance Sustainability Plan CSRD Compliance SBTi validation  First reporting  Global Top  Over 1.2b of  Fully on track on our  SBTI’s validation of wave according to Employer: only 17 Sustainability-linked Sustainability Plan our Climate CSRD and ESRS companies financing of which Strategy requirements  2025 key worldwide achieved 400 million euros in achievements: 83%  17 concrete actions this recognition 2025  Full compliance with of renewable to reduce by CSRD requirements  Certified as a Top  Part of the MIB ESG electricity, 100% of 42%direct emissions and ESRS standards Employer across all index direct suppliers and and by 25% indirect four regions (EMEA, 46% of indirect GHG Emissions. AMERICAS, LATAM, suppliers assessed, and APAC) and in ~600k training hours 20 out of the 26 delivered countries  Top management remuneration linked to sustainability KPIs © Amplifon S.p.A. th 15 March 4 , 2026 --- Outlook 2026  While 2025 market growth was below historical and expected levels, we implemented meaningful initiatives to accelerate future revenue growth and structurally enhance profitability  On profitability, we have launched Fit4Growth. The program is progressing strongly and is tracking at the high-end of the initial target of 150-200 bps by 2027. Key profitability actions and drivers include:  Network optimization & back-office efficiency initiatives ahead of plan  Divestment of the dilutive UK business  Termination, upon expiration, of a managed care agreement in the US  Looking ahead to 2026, we expect:  A gradual improvement in the global market demand, now expected in the region of +3%, supported by - A progressive recovery in the US private market, driven primarily by the Private Pay segment - Improving trends across Europe  Continued outperformance in our key individual markets, with solid progressive improvement in organic growth versus 2025  A material increase in profitability, supported by Fit4Growth  Over the medium term we remain committed to reinforcing our global leadership focusing on sustainable growth and margin expansion © Amplifon S.p.A. th March 4 , 2026 --- Annex --- FY 2025 Reported financials Data in €m FY 2025 FY 2024 ∆ 25/24 (unless specified) REVENUES 2,395.7 2,409.2 -0.6% EBITDA 511.6 561.1 -8.8% Margin % 21.4% 23.3% -- ORDINARY D&A (264.8) (255.1) -3.8% PPA AMORTIZATION (50.3) (49.2) -2.3% EBIT 196.6 256.8 -23.5% Margin % 8.2% 10.7% -- NET FINANCIAL EXPENSES (64.8) (60.0) -7.9% PBT 131.8 196.8 -33.0% Taxes (40.2) (51.2) +21.4% % on PBT 30,5% 26.0% -- Net Profit 91.3 145.4 -37.2% Margin % 3.8% 6.0% -- EPS (€) 0.410 0.644 -36.2% © Amplifon S.p.A. 18 th March 4 , 2026 --- Q4 2025 Reported financials Data in €m Q4 2025 Q4 2024 ∆ 25/24 (unless specified) REVENUES 651.9 664.4 -1.9% EBITDA 121.2 153.3 -20.9% Margin % 18.6% 23.1% -- ORDINARY D&A (65.5) (71.7) -8.6% PPA AMORTIZATION (12.4) (12.3) -0.8% EBIT 43.3 69.3 -37.5% Margin % 6.6% 10.4% -- NET FINANCIAL EXPENSES (16.9) (16.4) -3.1% PBT 26.3 52.8 -50.1% Taxes (9.4) (11.6) +19.1% % on PBT 35.6% 21.9% -- Net Profit 16.9 41.2 -58.9% Margin % 2.6% 6.2% -- EPS (€) 0.077 0.183 -57.7% © Amplifon S.p.A. 19 th March 4 , 2026 --- Alternative Performance Measures - adjustments  Alternative Performance Measures exclude the impact of unusual, infrequent or unrelated items to the normal course of business including  Transaction and integration costs for acquisitions and changes in earn-out  Charges and write-off related to reorganization, efficiency projects, and changes to the top management  Gain and loss on disposal of assets & businesses, write-off and revaluation of fixed assets  PPA amortization  Financial income (loss) related to inflation accounting and Fair Value changes resulting from modifications and/or non- cash accretion in financial liabilities  Other unusual, infrequent or unrelated income and expenses above an amount of €1m in a quarter, or above €2m across multiple quarters  Fiscal effect on adjustments & other fiscal adjustments © Amplifon S.p.A. 20 th March 4 , 2026 --- FY 2025 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 511.6 196.6 91.3 Transaction and integration costs for acquisitions and changes in earn-out 0.5 0.5 0.5 Charges and write-off related to reorganization, efficiency projects, and changes to 10.6 15.6 15.6 the top management Gain and loss on disposal of assets & businesses, write-off and revaluation of (0.5) 0.1 0.1 fixed assets PPA amortization - 50.3 50.3 Financial income (loss) related to inflation accounting and Fair Value changes - - 2.3 resulting from modifications and/or non-cash accretion in financial liabilities 1 Other 18.3 18.3 17.1 Total adjustments before tax 28.8 84.7 85.9 Fiscal effect on adjustments & other fiscal adjustments - - (18.0) Total adjustments 28.8 84.7 67.8 Adjusted Measures 540.4 281.3 159.2 1, Other unusual, infrequent or unrelated income and expenses above an amount of €1m in a quarter, or above €2m across multiple quarters © Amplifon S.p.A. 21 th March 4 , 2026 --- FY 2024 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 561.1 256.8 145.4 Transaction and integration costs for acquisitions and changes in earn-out 1.9 1.9 1.9 Charges and write-off related to reorganization, efficiency projects, and changes to 3.1 3.1 3.1 the top management Gain and loss on disposal of assets & businesses, write-off and revaluation of (1.3) 1.6 1.6 fixed assets PPA amortization - 49.2 49.2 Financial income (loss) related to inflation accounting and Fair Value changes - - 3.5 resulting from modifications and/or non-cash accretion in financial liabilities 1 Other 1.3 1.3 (1.4) Total adjustments before tax 5.0 57.0 57.9 Fiscal effect on adjustments & other fiscal adjustments - - (15.1) Total adjustments 5.0 57.0 42.8 Adjusted Measures 566.1 313.8 188.1 1, Other unusual, infrequent or unrelated income and expenses above an amount of €1m in a quarter, or above €2m across multiple quarters © Amplifon S.p.A. 22 th March 4 , 2026 --- Q4 2025 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 121.2 43.3 16.9 Transaction and integration costs for acquisitions and changes in earn-out 1.1 1.1 1.1 Charges and write-off related to reorganization, efficiency projects, and changes to 5.4 7.2 7.2 the top management Gain and loss on disposal of assets & businesses, write-off and revaluation of (0.5) (0.0) (0.0) fixed assets PPA amortization - 12.4 12.4 Financial income (loss) related to inflation accounting and Fair Value changes - - 0.7 resulting from modifications and/or non-cash accretion in financial liabilities 1 Other 18.3 18.3 19.0 Total adjustments before tax 24.3 38.9 40.3 Fiscal effect on adjustments & other fiscal adjustments - - (7.7) Total adjustments 24.3 38.9 32.6 Adjusted Measures 145.5 82.2 49.5 1, Other unusual, infrequent or unrelated income and expenses above an amount of €1m in a quarter, or above €2m across multiple quarters © Amplifon S.p.A. 23 th March 4 , 2026 --- Q4 2024 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 153.3 69.3 41.2 Transaction and integration costs for acquisitions and changes in earn-out 0.8 0.8 0.8 Charges and write-off related to reorganization, efficiency projects, and changes to 0.7 0.7 0.7 the top management Gain and loss on disposal of assets & businesses, write-off and revaluation of (0.6) 1.7 1.7 fixed assets PPA amortization - 12.3 12.3 Financial income (loss) related to inflation accounting and Fair Value changes - - 0.9 resulting from modifications and/or non-cash accretion in financial liabilities 1 Other 0.1 0.1 0.2 Total adjustments before tax 1.1 15.7 16.6 Fiscal effect on adjustments & other fiscal adjustments - - (4.0) Total adjustments 1.1 15.7 12.6 Adjusted Measures 154.4 84.9 53.8 1, Other unusual, infrequent or unrelated income and expenses above an amount of €1m in a quarter, or above €2m across multiple quarters © Amplifon S.p.A. 24 th March 4 , 2026 --- 2026 Financial Calendar Corporate events th March 4 : FY 2025 Results rd April 23 : Shareholder’s General Meeting th May 5 : Q1 2026 Results th July 30 : Q2 & H1 2026 Results th October 29 : Q3 & 9M 2026 Results © Amplifon S.p.A. 25 th March 4 , 2026 --- Investor Relations & Sustainability Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2542 francesca.rambaudi@amplifon.com amanda.giraldi@amplifon.com olga.lepechkina@amplifon.com