Fluidra S A : Results Presentation Q3 2022

Q3 2022 RESULTS

October 28th 2022

Q3 2022 RESULTS

Disclaimer

• This document is for information purposes only and does not constitute an offer to sell, exchange or buy, or an invitation to make offers to buy, securities issued by any of the companies mentioned. This financial information has been prepared in accordance with international financial reporting standards (IFRS). However, as it has not been audited, the information is not definitive and may be modified in the future.
• The assumptions, information and forecasts contained herein do not guarantee future results and are exposed to risks and uncertainties; actual results may differ significantly from those used in the assumptions and forecasts for various reasons.
  The information contained in this document may contain statements regarding future intentions, expectations or projections. All statements, other than those based on historical facts, are forward-looking statements, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations. Such forward-looking statements are affected, as such, by risks and uncertainties, which could mean that what actually happens does not correspond to them.
  These risks include, amongst others, seasonal fluctuations that may change demand, industry competition, economic and legal conditions, restrictions on free trade and/or political instability in the markets where the Fluidra group operates or in those countries where the group's products are manufactured or distributed, and those that may arise from potential COVID-19-related contingencies. The Fluidra group makes no commitment to issue updates or revisions concerning the forward-looking statements included in this financial information or concerning the expectations, events, conditions or circumstances on which these forward-looking statements are based.
  In any event, the Fluidra group provides information on these and other factors that may affect the company's forward-looking statements, business and financial results in documents filed with the Spanish national securities market commission. We invite all interested persons or entities to consult these documents.
• In order to give a better understanding of the results, we comment on adjusted financial statements and provide a reconciliation to reported measures in the appendix.

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Q3 2022 RESULTS

Today's Speakers

Eloi Planes	Bruce Brooks	Xavier Tintoré
Executive Chairman	CEO	CFTO

28/10/2022

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Q3 2022 RESULTS

Key Messages

1. As communicated last week, inventory correction in the channel is having an effect on H2 results
2. Despite the deceleration, today we serve a bigger market, driven by a larger installed base, price and perimeter
3. Fluidra is today a significantly stronger business than in 2019
4. • Gained market share in North America with broader product offering
   • Expanded our distribution network in Europe
   • Enhanced scope in Commercial Pool
5. We are building an even stronger Fluidra, positioned to continue to take share, making ourselves an even more reliable business partner, offering connected and sustainable products, becoming more efficient and reducing our cost base through our simplification program

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Q3 2022 RESULTS

YTD Financial Highlights

Sales Growth Driven by Price, M&A and FX

YTD €M	2021	2022
Sales	1,703.8	1,966.8
EBITDA	450.5	455.7
EBITA	399.9	395.2
Cash EPS	1.45	1.33

Operating Net Working Capital	305.2	648.7
Net Debt	933.2	1,325.1
Net Debt / LTM EBITDA	1.8x	2.4x

Evol.	Const. FX &
22/21	Perimeter
15.4%	3.0%
1.2%	(9.5%)
(1.2%)	(13.1%)
(8.6%)

112.5% 94.8%

42.0% 27.3%

0.6x

• Salesgrew driven by price, acquisitions and FX which more than offset volume slow down due to inventory correction in the channel
• EBITDAand EBITAare broadly flat vs a strong prior year with unfavorable mix and higher costs. Price vs inflation equation improving
• Cash EPSimpacted by one-off tax benefit from the Zodiac merger taken in Q2 2021
• Operating Net Working Capitalratio to LTM Sales at c.26% vs c.15% last year mainly due to higher inventory
• Leverage ratio increased to 2.4x with the acquisitions executed in H2 2021 and temporary higher inventory levels

28/10/2022 Note: EBITDA and EBITA are adjusted to include Run Rate Synergies and exclude Non-Recurring Expense. For more details please refer to page 16.

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For more details on Cash EPS please refer to page 17.