Industrie De Nora S p A : The Board approves the Consolidated Results for Fiscal Year 2023 - Business Plan updated to 2026

THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED RESULTS FOR FISCAL YEAR 2023

Net profit up to Euro 231 million, partly due to the listing of thyssenkrupp nucera

Adjusted EBITDA margin at 20%

Revenues up 4% YoY at constant exchange rates.

The Energy Transition Business grows by 140% YoY

PROPOSED DIVIDEND OF EURO 0.123 PER SHARE

BUSINESS PLAN UPDATED TO 2026: Focus on Growth, Profitability and Sustainability

INDUSTRIE DE NORA, IN PARTNERSHIP WITH THYSSENKRUPP NUCERA, PRE-SELECTED FOR $50 MILLION GRANT FROM THE U.S. DEPARTMENT OF ENERGY (DOE) - De Nora is also involved in 5 additional R&D projects selected by the DOE for a total $28.5 million

Key consolidated results for 2023:

• Revenues: euro 856.4 million (euro 852.8 million in 2022), +0.4% YoY, or +4.0% at constant exchange rates;
• Adjusted EBITDA¹: euro 171.1 million (euro 190.8 million in 2022), -10.4% YoY;
• Net Profit²: euro 231,1 million (euro 89.7 million in 2022), +157.7% YoY;
• Positive Net Financial Position at euro 68.2 million up compared to euro 51.3 million on December 31, 2022.

Business Plan update to 2026, growth driven by the Energy Transition Business, focus on profitability and sustainability.
• Revenues are growing at an average annual rate (CAGR 2023-2026) high single-digit. Growth is expected to accelerate gradually over the three-year period;
• Energy Transition Business, revenues growth at an average annual rate (CAGR 2023-2026) of 40%;
• Adj. EBITDA margin 18% - 19% on year basis, excluding the Italian Gigafactory one-off costs.

¹ Non-recurring items are non-material on the 2023 financial statements, so EBITDA and Adjusted EBITDA do not differ significantly. In 2022, the EBITDA Adjusted excluded mainly non-recurring items of approximately euro 25 million, of which euro 19.4 million related to the Management Incentive Plan and about euro 4 million for IPO costs.
² Net income as of December 31, 2023, includes, as a result of the IPO of the associated company thyssenkrupp nucera AG &Co. KGaA, total non-recurring income, included into the financial income, of euro 133 million.