Azimut S p A : Consolidated financial report at 30 June 2022

AZIMUT HOLDING SpA

Consolidated interim financial report at 30

June 2022

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Contents

Company bodies	3
Azimut Group's highlights and indicators	4
Management report	7
Consolidated financial statements	32
Notes to the consolidated financial statements	41
Statement pursuant to article 154-bis, paragraphs 3 and 4 of the	136
Consolidated Law on Finance

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Company bodies

Board of Directors

Pietro Giuliani	Chairman
Gabriele Blei	Chief Executive Officer
Massimo Guiati	Chief Executive Officer
Paolo Martini	Chief Executive Officer
Giorgio Medda	Chief Executive Officer
Alessandro Zambotti	Chief Executive Officer
Michela Morando (*)	Director
Elisabetta Castellazzi (*)	Director
Anna Maria Bortolotti	Director
Fiorenza Dalla Rizza	Director
Marcello Foa	Director
Silvia Priori	Director
Vittoria Scandroglio	Director
Costanza Bonelli	Director
Nicola Colavito	Director
Marco Galbiati	Director
Board of Statutory Auditors
Marco Lori	Chairman
Stefano Fiorini	Standing auditor
Maria Catalano	Standing auditor
Chiara Segala	Alternate auditor
Francesca Asquasciati	Alternate auditor
Independent Auditors
E&Y SpA

(*) in office for one year (2022)

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Azimut Group's highlights and indicators

AZIMUT GROUP'S STRUCTURE

The Azimut Group operates globally in 18 countries (an office was opened in Portugal in 2022) and is comprised of the parent company, Azimut Holding S.p.A., and 125 subsidiaries.

Company figures updated to 30/06/2022

Note (1): controls the distribution companies M&O Consultoria and Azimut Brasil Wealth Management.

Note (2): controls AZ Sinopro Insurance Planning.

Note (3): 30% held by Azimut Capital Management SGR S.p.A. and 19% by Azimut Financial Insurance S.p.A., both owned by Azimut Holding S.p.A..

Note (4): controlled by AZ Mexico Holdings.

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Azimut Group-Highlights at 30 June 2022

1989	Year of incorporation	2004	Year of flotation
81.2 billion	Total assets	18 countries	Geographical coverage
3.5 billion	Inflows for the first half of 2022	1,863	Financial advisors
666 million	Revenues for the first half of 2022	202 million	Net profit for the first half of 2022
1,490	Employees	16.58	Share price

Indicators

	Financial indicators			01/01/2022-			01/01/2021-			Change				2021
	(millions of euro)			30/06/2022			30/06/2021			Absolute		%
	Total income:	666		566		100		18%		1,449
	- of which fixed			552			456			96		21%			966
	management fees
	EBIT	276		233		43		18%		707
	Net profit for the period			202			226			-24		-11%			605
	Net inflows			3.5			11.97			-8.47		-71%			18.7

	Operating indicators		30/06/2022		30/06/2021		31/12/2021
	Financial advisors		1,863		1,842		1,840
	AUM, net (billions of euro)	52.1	51.3	54.1

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