Davide Campari Milano N : Half year financial report at 30 June 2022

Campari Group-Annual report at 31 December 2019

DAVIDE CAMPARI-MILANO N.V.

HALF YEAR REPORT

AT 30 JUNE 2022

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Campari Group-Annual report at 31 December 2019

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Campari Group- Half year report at 30 June 2022

Index

About this report....................................................................................................................................................	5
Key Financials highlights .....................................................................................................................................	6
Corporate bodies ...................................................................................................................................................	7
Management board report for the half year ending 30 June 2022....................................................................	9
Campari Group-Half year condensed consolidated financial statements at 30 June 2022 .........................	38
Responsibilities in respect of the half year condensed consolidated financial statements at 30 June
2022 .......................................................................................................................................................................	76
Independent auditor's report..............................................................................................................................	77

This document was not made available to the public with a signed version, which is retained at the Group corporate office.

Index 3

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Relazione sulla Giestione 4

Campari Group-Half year report at 30 June 2022

About this report

Note on presentation

The interim condensed consolidated financial statements for the six months ended 30 June 2022 have been prepared in accordance with the International Accounting Standards ('IAS') 34-'Interim Financial Reporting', as endorsed by the European Union. The interim condensed consolidated financial statements do not include all the information and disclosures required for the annual financial statements and should be read in conjunction with the Group's annual consolidated financial statements at 31 December 2021. Specific additional information is provided in the notes of this report in the event of material changes with respect to what was disclosed in Group's annual consolidated financial statements at 31 December 2021.

Forward-looking statements

Campari Group's half year report contains forward-looking statements that reflect management's current view of the Group's future development. All statements other than statements of historical facts set forth in this annual report regarding Campari Group 's business strategy, such as future operations and businesses, management's plans and objectives, are forward-looking statements. In some cases, words such as 'may', 'will', 'expect', 'could', 'should', 'intend', 'estimate', 'anticipate', 'believe', 'outlook', 'continue', 'remain', 'on track', 'design', 'target', 'objective', 'goal', 'plan' and similar expressions are used to identify forward -looking statements that contain risks and uncertainties that are beyond the control of the Group and call for significant judgement. Should the underlying assumptions turn out to be incorrect or if the risks or opportunities described materialise, the actual results and developments may materially deviate (negatively or positively) from those expressed by such statements. The outlook is based on estimates that Campari Group has made on the basis of all the information available at the time of completion of this half year report. The effects arising from the pandemic as well as the consequences from the Russian invasion of Ukraine that occurred in February 2022 and the expected intensification of the inflationary pressure, especially on input costs, may be materially different from management's expectations.

Campari Group does not assume any obligations or liability in respect of any inaccuracies in the forward-looking statements made in this half year report or for any use by any third party of such forward-looking statements. Moreover, the Group does not assume any obligation to update any forward-looking statements made in this half year report beyond statutory disclosure requirements.

Information on the figures presented

All references in this half year report are expressed in 'Euro' or '€'.

For ease of reference, all the figures in this half year report are expressed in millions of Euro to one decimal place, whereas the original data is recorded and consolidated by the Group in Euro. Similarly, all percentages relating to changes between two periods or to percentages of net sales or other indicators are always calculated using the original data in Euro. The use of values expressed in millions of Euro may therefore result in apparent discrepancies in both absolute values and data expressed as a percentage.

For information on the definition of the alternative performance measures used, see paragraph 'Definitions and reconciliation of the Alternative Performance Measures (APMs or non-GAAP measures) to GAAP measures' in the dedicated paragraph of this half year report.

The language of this half year report is English. Certain legislative references and technical terms have been cited in their original language so that the correct technical meaning may be ascribed to them under applicable law.

This half year report is not prepared in the European Single Electronic Format (ESEF), which is only required for the annual financial reports. The obligation applies from 1 January 2021 for all natural and legal persons with securities listed on a European st ock exchange and it is required for annual IFRS consolidated financial statements.

- Relazione finanziaria annuale al 31 dicembre 2019

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