We are invisible!

But we are everywhere!

Industrie Chimiche Forestali S.p.A.

Investor presentation

October 2022

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Disclaimer

This document has been prepared by Industrie Chimiche Forestali S.p.A. ("ICF").

This document does not constitute or form part of any offer or invitation to sell, or any solicitation to purchase any shares or any other kind of financial instruments issued or to be issued by ICF.

Not all the information contained and the opinions expressed in this document have been independently verified. In particular, this document contains forward-looking statements and declarations of pre-eminence that are based on current estimates and assumptions made by the management of ICF to the best of their knowledge. Such forward- looking statements and declarations of pre-eminence are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results including the financial condition and profitability of ICF to differ materially from, or be more negative than, those expressed or implied by such forward-looking statements and declarations of pre-eminence. Consequently, ICF can give no assurance regarding the future accuracy of the estimates of future performance set forth in this document or the actual occurrence of the predicted developments.

The data and information contained in this document are subject to variations and integrations. Although ICF reserves the right to make such variations and integrations when it deems necessary or appropriate, ICF assumes no affirmative disclosure obligation to make such variations and integration and no reliance should be placed on the accuracy or completeness of the information contained in this document. To the extent permitted by applicable law, no person accepts any liability whatsoever for any loss howsoever arising from the use of this document or of its contents or otherwise arising in connection therewith.

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By accepting this document, you agree to be bound by the foregoing limitations.

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Industrie Chimiche Forestali

ICF is a leading player in the technical adhesive and fabric business with the mission to pursue organic expansion of its operations while acting as an aggregator of companies operating in complementary businesses exploiting the robust Free Cash Flow generation

Why invest in Industrie Chimiche Forestali

Management

Equita; ICF; 3,9%

2,7%

Shareholder

PEP;structure 5,1%

V.F. Adhesives

(First Capital);

26,5%

Other Floating;

61,7%

11. A public company.The market is the dominant shareholder

22. More than 100 years of historyin the chemical industry

33. Leading player in Technical Adhesive nichewith expertise in adhesives and technical fabrics for the Footwear, Leather Goods, Automotive, Packaging and Upholstery sectors

44. Export oriented

55. Substantial Free Cash Flow generation

66. Strong focus on sustainability and environmental issues

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Industrie Chimiche Forestali: a 100-year History

ICF stops producing basic chemicals

and focuses on the upstream segment of the footwear industry

'50s

The production of

The production of special

formaldehyde as a derivative

impregnated fabrics for the

of pyroligneous begins

footwear industry starts

'30s

'20s

1918

1941

1983

The production of adhesives begins

Forestali relocates production from the plant in Sesto S. Giovanni to the new plant in Marcallo con Casone in the province of Milan

1984

1987

2005

Establishment of the Società Italiana Resine SIR for the production of phenolic resins in Sesto S. Giovanni

ICF completes the Business

Combination with EPS Equita PEP SPAC (then renamed ICF Group), listed on the AIM Italia exchange

2018

Industrie Chimiche

Forestali is founded and starts with the extraction of pyroligneous acid from wood

ICF Group merges

into Industrie

Chimiche Forestali, now listed on the AIM Italia Exchange

20202021

Adhesives for Furniture and Boating are

formulated and introduced into the business

network: Durabond brand is born.

ABC (Adhesive Based Chemicals) begins its

EPSEQUITA PEP SPAC

Besides the formulation of high-quality and

own activity in 2005, within Forestali, as a

company fully dedicated to the polyurethane

ease of use adhesives, already existing

adhesives industry for industrial applications

brands are purchased

(Automotive, flexible packaging, graphic arts)

ICF Group acquires Industria Chimica Morel, producer of high- end footwear and leather goods components

The «Invisible Power»

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Footwear &

Leather

Goods

Adhesives:

  • Solvent-based
  • Solvent-free
  • Water-based

Technical fabrics:

  • Toe-puff,counters / stiffeners
  • Linings and reinforcing

Counter

Toe puff

Upper

Insole

Sole Unit

Technical fabric is used in the toe puffs and counters of the shoe. Adhesive is used to put together mainly uppers, insoles and sole units

Technical fabric goes

Adhesive

is used

to reinforce the handle,

to glue

different

bottom and sides of

components of the

the bag. Adhesive is

upholstery

used to glue the linings

The

«Invisible Power»

Adhesives have a negligible impact on cost of production of the final article…

Automotive

Adhesives:

  • Solvent-based
  • Solvent-free
  • Water-based

The layers of the headliner in a vehicle. It can be applied to light vehicles (passenger and commercial)

Adhesives are used to glue

…But a relevant

impact on the

performance. A

low quality

adhesive can lead to serious issues and costs (e.g. destroyed shoes or stained car roof)

Packaging

The

layers

of films

The plastic cover of

comprising the package

magazines and

for

various

applications

periodicals

(food and non food)

The pins used in the staplers and similar objects

Product quality,

customized

solutions and

reliability are key

drivers to serve

clients

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Disclaimer

Industrie Chimiche Forestali S.p.A. published this content on 04 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2022 16:11:02 UTC.