F I L A Fabbrica Italiana Lapis ed Affini S p A : FILA Group Half-Year Report at June 30, 2023

Interim Financial Report

June 30, 2023

(Translation from the Italian original which remains the definitive version)

F.I.L.A. GROUP

HALF-YEAR REPORT

AS AT AND FOR THE SIX MONTHS ENDED JUNE 30, 2023

F.I.L.A. - Fabbrica Italiana Lapis ed Affini S.p.A.

Via XXV Aprile 5 Pero (MI)

CONTENTS

I - General information	4
Corporate Bodies	4
Overview of the F.I.L.A. Group	5
Directors' Report	7
Key Financial Highlights	7
F.I.L.A. Group's Financial Highlights	12
Adjusted financial performance	12
Business seasonality	14
Statement of Financial Position	15
Net financial debt and cash flows	18
Key events of the reporting period	22
Events after the reporting period	24
Outlook	24
Treasury shares	24
Related party transactions	25
Reconciliation between Parent and Group Equity	25

Condensed Interim Consolidated Financial Statements as at and for the six months ended June

30, 2023	27
Interim Consolidated Financial Statements	27
Statement of Financial Position	27
Statement of Comprehensive Income	28
Statement of changes in Equity	29
Statement of Cash Flows	30
Statement of financial position with indication of related party transactions pursuant to Consob
Resolution No. 15519 of July 27, 2006	32
Statement of Comprehensive Income with indication of related party transactions pursuant to
Consob Resolution No. 15519 of July 27, 2006	33
Notes to the condensed interim consolidated financial statements	34
Segment reporting	43
Business Segments - Statement of financial position	44
Business Segments - Income Statement	45
Business Segments - Other Information	46
Attachments	92
Attachment 1 - Related party transactions	92
Attachment 2 - List of companies included in the consolidation scope and other investments ....	94
Atypical and/or Unusual Transactions	95
Statement of the Manager in Charge of financial reporting and the Corporate Bodies	96
Report on the review of the condensed interim consolidated financial statements	97

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DIRECTORS' REPORT

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I - General information

Corporate Bodies

Board of Directors

Chairperson (*)	Giovanni Gorno Tempini
Honorary Chairperson	Alberto Candela
Chief Executive Officer (**)	Massimo Candela
Executive Director (**)	Luca Pelosin
Non-executive Director	Annalisa Matilde Barbera
Non-executive Director (*)	Giorgina Gallo
Non-executive Director (*)	Carlo Paris
Non-executive Director (*)	Donatella Sciuto

1. Independent director in accordance with Article 148 of the Consolidated Finance Act and Article 3 of the Code of Conduct. (**) Executive Director

Control, Risks and Related Parties Committee

	Donatella Sciuto
	Annalisa Matilde Barbera
	Carlo Paris
Remuneration Committee
	Carlo Paris
	Annalisa Matilde Barbera
	Giorgina Gallo
Board of Statutory Auditors
Chairperson	Gianfranco Consorti
Standing Auditor	Sonia Ferrero
Standing Auditor	Pietro Michele Villa
Alternate Auditor	Stefano Amoroso
Alternate Auditor	Gianna Luzzati
Independent Auditors	KPMG S.p.A.

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Overview of the F.I.L.A. Group

The F.I.L.A. Group (hereafter also the "Group") operates in the creativity tools market, producing and marketing colouring, design, modelling, writing and painting objects, such as pencils, crayons, modelling clay, chalk, oil colours, acrylics, watercolours, paints and paper for the fine arts, school and leisure.

The F.I.L.A. Group at June 30, 2023 operates through 25 production facilities and 33 subsidiaries across the globe and employs approx. 11,700 people, becoming a pinnacle for creative solutions in many countries with brands such as GIOTTO, DAS, LYRA, Canson, Maimeri, Daler-Rowney Lukas, Ticonderoga, Pacon, Strathmore, Princeton and Arches.

Founded in Florence in 1920 by two noble Tuscan families, della Gherardesca and Marchesi Antinori, F.I.L.A. S.p.A. (hereafter also the "Parent") has achieved strong international growth in the past 20 years, supported by a series of strategic acquisitions. Over the years, the Parent has acquired: (i) the Italian firm Adica Pongo in 1994, a leading producer of modelling clay for children; (ii) the Spanish firm Spanish Fila Hispania S.L. (formerly Papeleria Mediterranea S.L.) in 1997, the Group's former exclusive distributor in Spain; (iii) the French firm Omyacolor S.A. in 2000, a leading manufacturer of modelling putties and clays; (iv) the U.S. Dixon Ticonderoga Group in 2005, a leading producer and distributor of pencils in North America, with subsidiaries operating on the Canadian, Mexican, Chinese and European markets; (v) the German LYRA Group in 2008, which allowed the Group to enter the German, Scandinavian and Eastern Asian markets; (vi) the business unit operated by Lapiceria Mexicana in 2010, one of the main local competitors in the budget coloured and graphite pencils market; and (vii) the business unit operated by Maimeri S.p.A. in 2014, a manufacturer and distributor of paints and accessories for arts and crafts. In addition to these operations, on the conclusion of an initiative which began with the acquisition of a significant influence in 2011, control of the Indian company DOMS Industries Pvt Ltd. was acquired in 2015 (viii). In 2016, the F.I.L.A. Group focused upon development through strategic Art&Craft sector acquisitions, seeking to become the leading market player. On February 3, 2016, F.I.L.A. S.p.A. acquired control of the Daler-Rowney Lukas Group, an illustrious brand producing and distributing materials and accessories on the arts and crafts market since 1783, with a direct presence in the United Kingdom, the Dominican Republic, Germany and the USA (ix). In September 2016, the F.I.L.A. Group acquired the entire share capital of St. Cuthberts Holding Limited and the operating company St. Cuthberts Mill Limited, a highly-renowned English paper mill, founded in 1907, located in the south-west of England and involved in the production of high quality artist's papers (x). In October 2016, F.I.L.A. S.p.A. acquired the Canson Group, founded in 1557 by the Montgolfier family, with headquarters in Annonay in France, production facilities in France and conversion and distribution centres in Italy, France, China, Australia and Brazil. Canson products are

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