CELLULARLINE GROUP: Presentazione EURONEXT - STAR Conference 2024 - 21 March 2024

EURONEXT

STAR Conference 2024

21 March 2024

Disclaimer

This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the "Company") and its affiliates (together, the "Group"). This document, the information contained

herein and any information provided at any presentation in connection herewith (the "Materials") are being made available on a strictly confidential basis and all material contained herein and

information presented is in summary draft form for discussion purposes only and must not be relied upon for any purpose. The content of this document has a merely informative and provisional nature and is not to be construed as providing investment advice.

This Material is solely for your information on a confidential basis and may not be reproduced or redistributed, in whole or in part, to any other person, including, without limitation, by email or any other means of electronic communication.

The Material includes certain information regarding the Company and the Group that has not been publicly disclosed. You are reminded of your agreement (i) not to disclose such information (or the fact of this presentation and the related discussions) to any person outside your organization or to others within your organization (unless they are also subject to these restrictions), except as may be required by law, regulation or court order, and (ii) to comply with all laws and regulations applicable to the holding of such information.

This presentation has been prepared and issued by, and is the sole responsibility of, the Company. The statements contained herein have not been independently verified. No representation or warranty, express or implied, is given by or on behalf of the Company and any of its directors, officers or employees as to the fairness, accuracy or completeness of the information or opinions given at the presentation or contained in this document and/or related materials and no liability is accepted for any such information or opinions. This document speaks as of March 17th 2022. The information set out herein may be subject to revision and may change materially before closing. The Company is not under any obligation to keep current the information contained in this document and any opinions expressed in it are subject to change without notice.

The information contained herein does not purport to be all-inclusive or to contain all of the information a prospective or existing investor may desire. In all cases, interested parties should conduct their own investigation and analysis of the Company and the data set forth in this document.

None of the Company or any of its respective affiliates, employees, officers, advisers or representatives shall have any liability whatsoever for any loss whatsoever arising from any use of this document or its contents, or otherwise arising in connection with this document (whether direct, indirect, consequential or other).

This document does not constitute an offer to sell securities, nor a solicitation to make an offer to purchase or acquire any securities in the Company under Italian law and/or the law of any other jurisdiction. This document does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not be considered as a recommendation to subscribe or purchase shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered shall be deemed to constitute an offer of or an invitation by or on behalf of the Company. The Company has not decided finally whether to proceed with a transaction.

This document and the information contained herein do not constitute an offer of securities for sale in the United States and are not for publication or distribution in the United States or to US persons (within the meaning of Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities proposed to be offered have not been, and will not be, registered under the Securities Act and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Neither this document nor any copy of it may be taken, transmitted or distributed, directly or indirectly, in or into Australia, Canada, Japan or the United States or its territories or possessions. Any failure to comply with this restriction may constitute a violation of Australian, Canadian, Japanese or United States securities laws. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about and observe any such restrictions. This document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. The securities referred to herein have not been and will not be registered under the applicable securities laws of Australia, Canada, Japan or the United States and, subject to certain exceptions, may not be offered or sold within Australia, Canada, Japan or the United States or to any national, resident or citizen of Australia, Canada, Japan or the United States.

The information in this document may include forward-looking statements, which are based on current expectations and projections about future events. Forward-looking statements, projections, objectives, estimates and forecasts are generally identifiable by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", "goal" or "target" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements, as well as those included in any other material forming part of the preliminary discussions, are subject to risks, uncertainties and assumptions about the Company, including, amongst other things, the development of its business, trends in its operating industry and future capital expenditure. In light of these risks, uncertainties and assumptions, the events in the forward-looking statements may not occur. The document may include figures related to past

performance or simulated past performance. Past performance and simulated past performance are not a reliable indicator of future performance. No one undertakes to update or revise any such

forward-looking statement and no representation or warranty is given as to the achievement or reasonableness of future projections, management targets, estimates, prospect or returns, if any. Readers are cautioned not to place undue reliance on such forward-looking statements as a prediction of actual results. The Company's ability to achieve its projected objectives or results is dependent on many factors which are outside management's control. Actual results may differ materially from (and be more negative than) those projected or implied in the forward-looking statements. Such forward looking information involves risks and uncertainties that could significantly affect expected results and is based on certain key assumptions.

The information herein may not be reproduced or published in whole or in part, for any purpose, or distributed to any other party.

By attending this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and the Group and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's and the Group's business.

By attending this presentation you will be taken to have represented, warranted and undertaken that you have read and agree to be bound by and comply with the contents of this notice and the research report guidelines set forth in a separate memorandum.

2

Table of contents

1. Introduction to Cellularline Group
2. Business model
3. Growth opportunities
4. FY 2024 Financial results

3

The European benchmark for the digital devices accessories market

up at

a

ro

gl

i

e

G

a

n

l

n

c

e

r

a

l

u

l

l

e

C

+30 Years of history

Headquarters in Reggio

Emilia (Italy)

6 Offices in Europe

+299 Employees

+60 Countries served

ca. 25 mln Products shipped 10.000 m2 Warehouse in Italy

					ncials	F
				a	Y
			in			2
		f					0	2
	y
e
K										3

• Revenues: Euro 158.6 million
• Adj. EBITDA: Euro 20.8 million
• Adj. Net Profit: Euro 7,7 million
• Net Debt: Euro 35.4 million (1.7x Leverage ratio)

				ess	fa
		s	cc	t
	y	u		c	o
						r
e							s
K

Brand recognition and

strong positioning in

EMEA markets

Excellence in quality,

performance and innovation

Flexible & highly cash generative operating model

Management expertise

4

Always prepared to seize new market opportunities

Cellularline development phases

Booming Phase

development of the

smartphone era

Riding the wave of new smartphone era Offering a wide range of smartphone and tablet accessories

International development and

market leadership

Managerial Expansion and listing

I

Developing international markets Focusing on operational excellence

Strengthening management team, compliance and

IT system

The company reaches the European leadership in

the accessories market for mobile devices

Covid Phase	Restart
Resilience
New organic growth
Development of M&A
M&A continuation
strategy

Resilience also thanks to	Increase international
presence, mainly in
financial soundness	Germany, Spain, France
Decision to continue M&A	Strenghten partnership with
strategy on selected	Italian top accounts, by
opportunities	activating new Film
Start of on-line sales	Application strategic
business
Financial flexibility for further expansion

1990	2010
	International
	strategy:
Cellular Italia	Cellular Italia
reaches
is born
distribution in
	over 50
	countries

2013	2018	2019
Growth project:	Business	First acquisition:
S.L.M.K. (PE	combination	Systema
fund supported	with Crescita
by LVMH)	and listing on	July 22nd
acquires the	AIM (Italian	listed on MTA -
majority of the	Stock
STAR segment
company	Exchange)

2020/21

Temporary turnover reduction due to:

• Covid impact on "physical" sales
• Loss of distributor on German market
• Second acquisition: Worldconnect AG
• Third acquisition: Coverlab
• First ESG Report

2022/23

Fourth acquisition: Allogio

Fifth acquisition: Peter Jäckel GmbH New agreements with:

• MediaMarktSaturn (Germany)
• El Corte Ingles (Spain)
• Auchan Int'l (France and Spain) New agreements Film&Go in Italy:
• Unieuro
• Mediamarket

5

Table of contents

2. Business model

6

The smartphone

Camera

Alarm

Mobile Phone

What

CalculatorHappened

SO FAR

Newspaper

Portable Gaming Device

MP3/Music Player

Agenda

Mobile payments

Sport / Wellness

What

Is Happening

NOW

Smart working

AR / Metaverse

Al and more to come…!

7

Beyond the smartphone: our Purpose, Vision and Mission

OUR VISION for END-USERS

To make the group's brand the

leading names in the accessories for

digital devices market, with a reputation for creating simple,

effective and sustainable solutions.

OUR MISSION for END-USERS

To cultivate a synergy-based

selection of brands that examine people's needs, then design and

produce functional, sustainable

solutions in order to bring out the full potential of the digital experience.

OUR VISION for TRADE PARTNERS

To set the benchmark as a partner in

the creation of long-term, sustainable

value in the accessories for digital

devices market.

OUR MISSION for TRADE PARTNERS

To constantly improve

the processes we carry out

in tandem with our partners in order

to customize our selection and services through a data-driven, omnichannel strategic approach.

8

A rich product mix to satisfy every user's need (> 30% of Turnover with NEW PRODUCTS )

Product Type

Brand

Products

Protection & Style

& Services

Charge and utility

Voice and music

Motorbike & bike

Travel adapters

9

Unrivaled brand portfolio for a wide range of targets

Offer

PREMIUM

MAINSTREAM

ENTRY LEVEL

ACCESSORY

Subordinated to the smartphone market

These accessories satisfy needs that depend

upon the use of the smartphone.

Their obsolescence is connected to the life cycle of the product itself.

FINISHED PRODUCT

Type

Not subordinated to the smartphone market

The need of these products remains even if smartphone changes.

A high innovation rate is required.

10