Equita S p A : STAR Conference 2021 (Risultati H1'21)

STAR CONFERENCE

FIRST HALF 2021 RESULTS

October 12th - 14th, 2021

THE EXPERTS OF FINANCIAL MARKETS

Index

EXECUTIVE SUMMARY	Page 3
H1'21 RESULTS (KEY FINANCIALS)	Page 4
RECENT DEVELOPMENTS & INITIATIVES	Page 9
OUTLOOK 2021 AND CLOSING REMARKS	Page 13
APPENDIX	Page 17

EXECUTIVE SUMMARY

H1'21 FINANCIAL RESULTS

The strongest semester since IPO

Double digit increase in client-related revenues, consolidated net revenues and net profits

RECENT DEVELOPMENTS & INITIATIVES

Covid-19

Back to a "new" normal, with a mix of remote and in-person meetings, roadshows and conferences

Rankings

Standing as leading independent broker in Italy confirmed

Further consolidation of our leading position in M&A, ECM and DCM league tables, especially on Mid-Small Caps

Winner of the Private Debt Awards 2021

Business initiatives

New round of fundraising, bringing total commitments of Equita Private Debt Fund II to €178.5m (€200m target)

First closing of Equita Smart Capital - ELTIF expected to occur soon. New distributors are likely to come by year-end (€140m target)

Regulatory framework

New prudential framework (IFR/IFD) expected to free some capital to be invested in products, M&A and shareholders' remuneration

OUTLOOK 2021

Positive expectations on full-year results

Optimistic to make significant progress toward 2022 business plan targets and possibly to achieve them one year in advance

Dividend proposal for 2022, absent significant market changes, expected to be significantly higher than the €0.20 dividend per share distributed in 2021, thanks to positive expectations on H2'21 results and new regulatory framework on capital

STAR CONFERENCE 2021 (H1'21 RESULTS)	3

Index

H1'21 RESULTS (KEY FINANCIALS)

SNAPSHOT ON FIRST HALF 2021 CONSOLIDATED RESULTS

KEY CONSOLIDATED HIGHLIGHTS

€46.1m

(+58% vs H1'20)

Net

Revenues

€11.4m	39%	€1.0bn
(+123% vs H1'20)	(as of 30 June 2021)	(+6% vs FY'20)
Net Profits	Return on	Assets under
(post minorities)	Tangible Equity (1)	Management

DIVISIONAL PERFORMANCE

Business

Breakdown

7%

39% H1'21 54%

First Half

Net Revenues (€m)

Global					24,8 +36%
Markets				18,2
Investment			18,1	+102%
Banking		9,0

Second Quarter

Net Revenues (€m)

Global 12,3 +35%

Markets9,1

Investment			12,0	+139%
Banking		5,0

Global Markets

Investment Banking

Alt. Asset Management

Alt. Asset		3,2	+62%	Of which fees
Management		2,0	+34%

Alt. Asset	1,6	(25%)
Management	2,1

Q2'20 Includes €1.2m positive mark-to-

market on some AM investments (Blueglen)

(vs €0.3m in Q2'21)

Of which fees

+38%

2021

2020

(1) ROTE = Last 12-months Net Profits / Average Tangible Equity. Average Tangible Equity calculated as average of beginning of the year and	STAR CONFERENCE 2021 (H1'21 RESULTS)	5
current period Tangible Equity (excluding Net Profits of the period)