Key financial results of the Group[1]

• Net revenues: €1,759.7 million (+2.5% YoY)
• Adjusted EBITDA post-CapEx: €238.8 million (+11.2% YoY)

The Board of Directors of Engineering Ingegneria Informatica S.p.A. (“Engineering” and, together with its consolidated subsidiaries, the “Group”), a leading Digital Transformation Company in Italy with a strong international presence, has approved the Consolidated Financial Statements for the 2025 fiscal year.

During the year, the Group reported improvements in both revenues and key EBITDA metrics, driven in part by stronger cost discipline, the gradual normalization of investments, and a reduction in non-recurring items.

Revenue growth, entirely organic, was supported by a progressive shift in the business mix toward higher-value segments, such as digital technologies and proprietary software solutions, as well as by strong performance in the public sector, including Healthcare.

Chief Executive Officer Aldo Bisio stated: “The results for 2025 show that the Group is well positioned to capture the Country’s structural digitalization trends, with a particular focus on Artificial Intelligence and the development of technologically advanced proprietary solutions. Thanks also to the support of our shareholders Bain Capital and Renaissance Partners, we are now fully focused on accelerating the transformation driven by GenAI. We look ahead with determination, as we believe this technological discontinuity can also represent an opportunity, provided we have the strength and courage to step up the pace.”

Key consolidated financial highlights

In 2025, most of the Group’s main financial indicators recorded a positive trend:

• Net revenues: €1,759.7 million, up 2.5% compared to €1,716.6 million in the previous year.
• Adjusted EBITDA[2]: €280.3 million, up 1.5% compared to €276.2 million in 2024, driven by improved operational efficiency, mainly supported by a focus on higher-margin activities and strengthened workforce management, including tighter control of service costs.
• Adjusted EBITDA post-CapEx[3]: €238.8 million, up 11.2% compared to €214.8 million in 2024, reflecting the gradual normalization of the investment cycle.
• Reported EBITDA: €255.5 million in 2025, up 4.3% from €244.8 million in 2024, also benefiting from lower non-recurring costs related to the Group’s transformation process in recent years, including change management initiatives.
• EBIT: €135.9 million, up 12.9% compared to €120.4 million in 2024, mainly due to the reduction in provisions recorded during the year, also reflecting the overall improvement in the quality of the credit portfolio compared to the previous period.
• Total net debt[4]: €1,166.7 million at year-end 2025, down 2.5% from €1,196.8 million recorded at the end of the previous fiscal year.

In this context, the Group further strengthened its cash generation capability compared to the previous year, driven by higher profitability, improved operational efficiency, and disciplined working capital management, despite higher financial charges associated with the refinancing transaction completed in early 2025.

During 2025, the Group developed an architectural approach based on the concept of “sovereign” Artificial Intelligence (AI), a model that allows organizations to maintain full control, security, and governance over their AI solutions while maximizing integration with the global technology ecosystem. The architecture is designed to support the cognitive transformation of enterprises and Public Administration in adopting generative AI solutions, enabling the responsible and strategic use of both proprietary and third-party models.

In this context, Engineering frames AI as a strategic asset capable of generating cumulative value over time and supporting a sustainable competitive advantage. The overall architecture, composed of integrated infrastructural, logical, and application layers, allows organizations to maintain full control over data, model evolution, and technology infrastructure, while ensuring interoperability and integration with external models and services, selected based on performance, cost, and compliance criteria. The platform enables the transformation of core processes through an agent-based approach, supporting the orchestration of AI agents that can combine proprietary and market models. This approach allows organizations to safeguard their intellectual property (IP), enhance their distinctive know-how, and deploy specialized and customizable AI solutions tailored to their business, governance, and organizational needs.

The starting point for Engineering has been the evolution of its Private Generative AI platform, EngGPT, designed in compliance with the AI Act and based on principles of openness (open weight) and auditability, enabling coexistence and integration with other models within hybrid and multi-model architectures. The platform also stands out for its high efficiency in terms of computational resource consumption required for training and inference, enabling sustainable and scalable AI deployment even in complex enterprise environments.

Over the fiscal year, the Engineering Group also completed the widespread adoption of Generative AI technologies across the entire software development lifecycle, achieving significant productivity and operational efficiency gains.

In the area of Research and Innovation, with a division comprising over 450 researchers and data scientists and a global network of universities, startups, and research centers, the Group:

• reaffirmed its commitment with more than 90 active projects and investments exceeding €24 million, continuing to develop and explore new technologies and business solutions in key areas such as Artificial Intelligence, Cloud, Cybersecurity, and Data Spaces;
• strengthened its role within major European programs by participating in strategic initiatives such as the IPCEI[5] “Avant” project on cloud infrastructure services and securing new IPCEI funding under the “Tech4Cure” initiative, the second project of European interest aimed at developing advanced technologies for the healthcare sector.

During the same meeting, the Board of Directors approved the 2025 Sustainability Report, prepared on a voluntary basis in continuity with 2024 and subject, for the fifth consecutive year, to independent assurance by Deloitte & Touche S.p.A. The preparation process was brought forward by two months compared to last year, aligning with the schedule of the Consolidated Financial Statements and in anticipation of future requirements under the Corporate Sustainability Reporting Directive (CSRD).

The document introduces a new strategic section dedicated to value creation and presents the renewed Compliance & Data Protection structure. Among the main achievements, the Group was awarded the EcoVadis Platinum Medal, one of the most prestigious recognitions in international sustainability ratings.

Aldo Bisio, Chief Executive Officer and General Manager, and Pasquale Iannone, Chief Financial Officer, will provide further comments on the results presented in this press release during a dedicated Investor Call. More details will be shared through official channels in a subsequent communication.

All documents and supporting materials relating to this publication will be available in the dedicated Investor Relations section on Engineering’s website: https://www.eng.it/en/investor-relations/

^[1] The key financial results of the Group, including the Alternative Performance Indicators (APIs), are defined and/or reconciled, where applicable, in the footnotes to this press release.

^[2] Adjusted EBITDA is defined as Reported EBITDA before non‑recurring charges.

^[3] Adjusted EBITDA post‑CapEx is defined as Adjusted EBITDA net of capital expenditures (CapEx), which amounted to €41.5 million in 2025 compared to €61.4 million in the previous year. CapEx is defined as increases in tangible assets (property, plant, and equipment) and intangible assets, net of decreases.

^[4] This figure excludes the intragroup financing in place between Engineering Ingegneria Informatica S.p.A. and its parent company Centurion Newco S.p.A. (the so‑called Shareholder Loan) and therefore refers to the Group’s net financial indebtedness toward banks, institutional investors, and other external lenders.

^[5] Important Projects of Common European Interest (IPCEI).

This release relates to the disclosure of information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.

This release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or an invitation to purchase any securities in any jurisdiction. The securities referenced in this release have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, or any applicable state or foreign securities laws.

The information contained in this release may contain forward-looking statements. These statements involve elements of subjective judgment and analysis and are based upon the best judgment of the Group as of the date hereof. These statements are subject to change without notice and are based on a number of assumptions and entail known and unknown risks and uncertainties, as there are a variety of factors that may cause actual events and developments to differ materially from any future events and developments expressed or implied by such forward-looking statements. Therefore, you should not rely on these forward-looking statements. Neither the Group nor any other person gives any undertaking, or is under any obligation, to update these forward-looking statements for events or circumstances that occur subsequent to the date of this release or to update or keep current any of the information contained herein and this release is not a representation by the Group or any other person that they will do so, except to the extent required by law.

The preliminary information included in this release has been prepared under the responsibility of the Group’s management. Such preliminary information does not take into account any circumstances or events occurring after the period to which it refers. While this preliminary information has been prepared in accordance with IFRS (subject to certain exceptions and adjustments), this preliminary information has not been audited, reviewed or verified and no procedures have been completed by the Group’s external auditors with respect thereto and is not comparable with the corresponding financial information for any prior period. The preliminary information set forth above should not be regarded as an indication, forecast, capsule financial information or representation regarding the Group’s financial results for the year ended December 31, 2025 or for any other period. The preliminary information above also includes certain non-IFRS measures, including adjusted EBITDA, which do not constitute a measure of financial performance under IFRS or any other accounting standard and have not been audited or otherwise reviewed by any auditors, consultants or experts. The preliminary information set forth above is not intended to be a comprehensive statement of the Group’s financial or operational results as of and for the year ended December 31, 2025 and should not be interpreted as an indicator of the Group’s results for the year ended December 31, 2025 or any other period, and you should not place undue reliance thereon.