#14 APRIL 2023 - INVESTOR ACCESS EVENT 2023, PARIS SANLORENZO CORPORATE PRESENTATION SANLORENZO#2Contents 1. Superior and responsible business model 2. Strong and resilient growth path 3. FY 2022 Results 4. 2023-2025 Business Plan © 2023 SANLORENZO S.P.A.#3Content 1. Superior and responsible business model 2. Strong and resilient growth path 3. FY 2022 Results 4. 2023-2025 Business Plan © 2023 SANLORENZO S.P.A.#41 Superior and responsible business model • Limited number of units built per year for each product line. Rigorously «Made to Measure>> Sophisticated and loyal customers, «Connoisseurs», «Sanlorenzo Club» of ~1,000 owners belonging to the world's wealthiest families. • Timeless design with the utmost care for details • Industry leader for innovation with tradition • Sustainability at the heart of R&D strategy Long-term partnerships with thousands of specialized local artisans with exceptional craftmanship skills granting uncompromised quality and cost flexibility Unique direct distribution supported by global brand representative network, mostly monobrand Close liaison with art and design Experienced and passionate management team © 2023 SANLORENZO S.P.A. 4#5. SUPERIOR AND RESPONSIBLE BUSINESS MODEL Exclusivity A unique high-end positioning Limited number of units built per year for each product line EXPLORER CANTIERE DELLE MARCHE SANLORENZO EXPLORER LINE since 2015 CROSSOVER (NO COMPETITION) SANLORENZO SX LINE since 2017 . . Unique <<Made to Measure» philosophy also in composite yachts Sophisticated customers with strong brand loyalty Heritage and brand awareness allowing premium price positioning ~10x years average lifetime resulting in high second hand value resilience Constant expansion of product ranges entering new market segments NAVETTA BENETTI CLASSIC CUSTOM LINE SANLORENZO SD LINE since 2007 FLYBRIDGE AZIMUT CUSTOM LINE FERRETTI YACHTS MOCHI CRAFT PRINCESS RIVA SUNSEEKER SANLORENZO SL LINE Number of Sanlorenzo yachts delivered¹ 48 48 37 STEEL NAVETTA MOONEN 64 61 55 CANTIERE DELLE MARCHE SANLORENZO X-SPACE LINE launch in 2023 2018 2019 2020 2021 2022 1. Including Yacht and Superyacht divisions (respectively 59 and 5 in 2022), excluding Bluegame (32 yachts delivered in 2022). since 1958 SUPERYACHT FEADSHIP AMELS LURSSEN HEESEN BENETTI PERINI BAGLIETTO SPORT COUPE' MANGUSTA PERSHING PRINCESS RIVA CRN SANLORENZO ALLOY LINE since 2007 SANLORENZO STEEL LINE since 2009 SUNSEEKER SANLORENZO SP LINE since 2022 5#6Content 1. Superior and responsible business model 2. Strong and resilient growth path 3. FY 2022 Results 4. 2023-2025 Business Plan © 2023 SANLORENZO S.P.A.#72 Strong and resilient growth path Top builder Undisputed winner in luxury yachting • Proven resilience over the cycle 5-year financial highlights: steady growth © 2023 SANLORENZO S.P.A. 7#8Sanlorenzo Custom Line STRONG AND RESILIENT GROWTH PATH Top builder First brand delivering 30-40mt yachts Cumulative 2009-2019 deliveries, as per early October 2019 The SuperYacht Times, November 2019 90 73 69 59 Sunseeker Azimut Yachts 55 World's leading monobrand shipyard 2023 Global Order Book - Top shipyards by lenght¹ BOAT International, December 2022 2023 RANK COMPANY TOTAL LENGTH (M) NUMBER OF PROJECTS AVERAGE LENGHT (M) NUMBER OF PROJECTS 2022 2022 RANK 1 Azimut Benetti 5,991 168 35.7 128 1 2 Sanlorenzo 4,577 128 35.8 117 2 3 Ocean Alexander 2,382 73 32.6 47 3 4 Feadship* 1,672 N/A N/A N/A 4 5 Princess Yachts 1,588 63 25.2 N/A N/A 6 Sunseeker 1,443 53 27.2 N/A N/A 7 Lürssen* 1,233 11 112.1 9 5 8 The Italian Sea Group 1,149 21 54.7 12 8 445 45 44 9 Damen Yachting 1,022 15 68.1 13 7 10 Overmarine 1,017 25 40.7 24 6 11 Horizon 825 29 28.4 24 9 Westport Yachts 12 Palumbo 768 18 42.7 12 15 13 Baglietto 749 16 46.8 14 10 Benetti 14 Viking Yachts⭑* 681 26 26.2 22 13 15 Heesen Yachts 634 11 57.6 11 11 1. The Global Order Book counts all projects over 24 metres length overall on order or in build signed with a minimum 10% deposit received, on 1 September each year. According to BOAT International research, Ferretti Group should appear in the third place. However, the company, as in previous years, declined to share precise order book data. * data partially shared by the shipyard. 8#9STRONG AND RESILIENT GROWTH PATH Undisputed winner in luxury yachting Value of Production (rebased to 100) 2008-2014 global boating market¹ decrease: -41% +5% SANLORENZO 2006-2021 growth: +514%² Above market growth paired with distinctive resilience across industry cycles testimony of Sanlorenzo superior business model, even during the Covid-19 pandemic, also thanks to: Large proportion of direct sales to final customers, with limited "sell-in/sell-out" risk from dealers and more favourable cash-in profile Flexible cost structure due to production activities carried out by third-party contractors -36% -69% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 1. Source: Company information, management assessment, consolidated annual reports and Deloitte Boating Market Monitor 2019. Source: Deloitte Boating Market Monitor. 2. 3. Based on consolidated accounts as per Italian GAAP until 2015, then according to IFRS. Financial year ending 31 December. Based on consolidated accounts as per Italian GAAP. Financial year ending 31 August. 4. Based on consolidated accounts as per IFRS. Financial year ending 31 August until 2012, then ending 31 December. 5. 2006-2008 figures including Pinmar and Apremare (~€65m revenues), then disposed in 2010. Ferretti Group 2006-2021 growth: +18%4,5 Azimut | Benetti 2006-2021 growth: +14%³ 6#10STRONG AND RESILIENT GROWTH PATH Proven resilience over the cycle Sustained revenue growth: +9.2% CAGR from 2008 to 2022, +16.4% CAGR since 2015 Stable EBITDA margin throughout the cycle and never a single year of operating loss during the crisis of the nautical sector: 10.3% average EBITDA margin during 2008-2014 period Stable revenues and increase in operating margins during the Covid-19 pandemic 10.5% 7.0% 5.6% 11.5% 9.1% 8.8% 13.0% 10.5% 9.9% 9.5% 8.8% 13.5% 12.5% 11.6% 327.3 17.6% 16.3% 15.4% 14.5% 740.7 455.9 457.7 585.9 219.0 219.6 221.7 231.0 208.2 198.0 196.0 181.0 168.8 158.2 125.0 106.7 56.9 22.8 6.0 6.0 8.8 16.5 28.5 17.3 14.9 16.7 20.7 130.2 95.5 66.0 70.6 20.9 30.0 28.9 38.1 LLL LLLLL 2005 2006 2007 2008 2009 2010 2011 2012 Revenues (€m) 2013 EBITDA (€m) 2014 2016 2017 2018 2019 2020 2021 2022 2015 EBITDA Margin (% of revenues) Revenues presented as Value of Production according to Italian GAAP until 2015 and Net Revenues New Yachts according to IFRS from 2016 onwards. 10#11STRONG AND RESILIENT GROWTH PATH 5-year financial highlights: steady growth Net Revenues New Yachts / (Єm) Adjusted EBITDA / (€m) Group Net Profit/ (€m) 130.2 740.7 585.9 455.9 457.7 327.3 74.2 95.5 70.6 66.0 38.1 51.0 34.5 27.0 12.4 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Capex/ (€m) 51.4 46.3 30.8 49.2 50.0 Net Working Capital / (€m) 17.0 19.3 11.6 -2.7 Net Financial Position / (€m) -9.1 -37.0 -23.0 3.8 39.0 100.3 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 11#12Content 1. Superior and responsible business model 2. Strong and resilient growth path 3. FY 2022 Results 4. 2023-2025 Business Plan © 2023 SANLORENZO S.P.A.#133 FY 2022 Results • Delivering another year of strong double-digit growth Outstanding top line growth boosted by new models Accelerating on margin expansion Investments in new production capacity to fuel long term growth • Order intake and profitability driving a strong cash generation • A robust, growing backlog boosted by a continuously high demand Visibility on coming years is persistently increasing © 2023 SANLORENZO S.P.A. 13#14FY 2021 FY 2022 FY 2022 RESULTS Delivering another year of strong double-digit growth Exceeding guidance on all metrics Net Revenues New Yachts¹ / (€m) 585.9 Adjusted EBITDA²/ (€m and % on Net Revenues New Yachts) FY 2021 95.5 16.3% +26.4% YOY +36.3% YOY 740.7 FY 2022 130.2 17.6% EBIT / (Єm and % on Net Revenues New Yachts) Group net profit/ (Єm and % on Net Revenues New Yachts) FY 2021 72.2 12.4% FY 2021 51.0 +42.3% YOY +45.4% YOY FY 2022 102.7 13.9% FY 2022 74.2 Investments³ /(Єm and % on Net Revenues New Yachts) Net Financial Position4 / (€m) FY 2021 49.2 8.4% FY 2021 39.0 +1.5% YOY FY 2022 50.0 6.7% FY 2022 +61.3m 100.3 YOY 1. 2. Calculated as the sum of revenues from the sale of new yachts (recognised over time with the cost-to-cost method) and pre-owned boats, net of commissions and trade-in costs of pre-owned boats. Excluding non recurring items, linked to Covid-19 related expenses and non-monetary costs of the stock incentive plans (€583k in FY 2022 and €916k in FY 2021). 3. 4. Increases in property, plant and equipment and intangible assets, net of the carrying amount of related disposals, at constant perimeter. FY 2022 reported figure €59.0m, including the consolidation of Polo Nautico Viareggio S.r.l., Equinoxe S.r.l. and I.C.Y. S.r.I. Calculated in accordance with ESMA document 32-382-1138, 4 March 2021. A positive figure indicates a net cash position. 14#15FY 2022 RESULTS Outstanding top line growth boosted by new models Net Revenues New Yachts at €740.7m, +26.4% YoY, of which €196.6m in Q4 Higher volumes and increase in average selling prices in all divisions Excellent results of SL and SD asymmetric models (Yacht Division) Increasing weight of X-Space and newly-launched SD90/s and SP110 First sales of BGM75 and SX100, both to be presented at Cannes Yachting Festival 2023 Strong growth in Europe, continued expansion in North America, recovery in APAC after ease of zero-Covid policy Quarterly evolution / (€m) 164.4 180.5 199.2 Breakdown by division YoY comparison / (€m) +26.4% 740.7 Breakdown by geography 196.6 740.7 585.9 62.7% Yacht Division €464.5m +28.0% YoY 27.0% Superyacht Division €200.2m +11.9% YoY 10.3% Bluegame Division €76.0m +72.2% YoY 56.3% Europe €417.3m +29.1% YoY 23.2% Americas €171.5m +25.3% YoY 14.8% APAC €109.3m +22.5% YoY 5.8% MEA €42.6m +16.8% YoY Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 FY 2021 FY 2022 Net Revenues New Yachts are calculated as the sum of revenues from the sale of new yachts (recognised over time with the cost-to-cost method) and pre-owned boats, net of commissions and trade-in costs of pre-owned boats. 15#16FY 2022 RESULTS Accelerating on margin expansion Adjusted EBITDA margin at 17.6%, +130bps YoY, thanks to price increases and operating efficiencies Adjusted EBITDA EBIT/ Group net profit/ (net of minor non recurring items) / (Єm and margin % on Net Revenues New Yachts) (Єm and margin % on Net Revenues New Yachts) Benefits from shift in product mix towards larger yachts in each division (>100 feet for yachts and 50-73 metres Steel line for superyachts) Continued increase in average selling prices more than offsetting cost inflation. (Єm and margin % on Net Revenues New Yachts) . Impact of energy costs and raw materials limited and under management, slight decrease in Q4 Diversification of suppliers and multi-year 16.3% procurement at pre-agreed prices, also thanks to vertical integration Higher absorption of fixed costs and optimisation of new production capacity EBIT margin +150bps YoY in spite of 19.9% increase in D&A due to capex 95.5 +36.3% +42.3% 17.6% 130.2 13.9% 12.4% 102.7 Net profit margin +130bps YoY also thanks to 53.0% reduction in financial expense . Proposed dividend distribution of €0.66 per share (~31% pay-out), +10% 2021 dividend¹ FY 2021 FY 2022 EBITDA is calculated by adding amortisation/depreciation expenses to operating profit/loss. 72.2 FY 2021 FY 2022 +45.4% 10.0% 8.6% 74.2 51.0 FY 2021 FY 2022 Adjusted EBITDA excludes non recurring items, linked to Covid-19 related expenses and non-monetary costs of the stock incentive plans (€583k in FY 2022 and €916k in FY 2021). Reported EBITDA €129.6m, +37.0% YoY. Subject to approval by the Ordinary Shareholders' Meeting scheduled on 27 April 2023. 1. 16#17FY 2022 RESULTS Investments in new production capacity to fuel long term growth Net capex at €59.0m, of which €9.0m related to acquisitions Capex at €59.0m, of which €9.0m related to new entities in the consolidation perimeter¹ Investments in new production capacity at €34.3m supporting expected revenue increase, including over 10,000 sqm of production areas acquired in Q2 and Q3 . Accelerating on product development and R&D with investments increasing 11.9% YoY at €19.5m mostly in Q4 Breakdown by nature/ (reported figure) Quarterly evolution / (Єm, reported figure) 17.3 15.4 YoY comparison / (Єm and % on Net Revenues New Yachts) 19.9 59.0 59.0 8.4% 8.0% 49.2 50.0 6.7% 58.2% New industrial capacity €34.3m +28.4% 4.3% Recurring industrial €2.6m +2.1% 6.3 33.1% R&D and product development €19.5m +11.9% Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 FY 2021 FY 2022 FY 2022 4.4% Other investments €2.6m +1.6% at costant perimeter reported figure Investments refer to increases in property, plant and equipment and intangible assets, net of the carrying amount of related disposals (sale of office building in Massa for a net book value of €2.1m in Q1 2022). Polo Nautico Viareggio S.r.I., I.C.Y. S.r.I. and Equinoxe S.r.l. 1. 17#18FY 2022 RESULTS Order intake and profitability driving a strong cash generation €100.3m net cash position, a continuous improvement notwithstanding investments, acquisitions and dividends Net working capital / (€m) Net financial position/ (€m) 100.3 Net working capital as of 31 December 2022 negative for €37.0m, -€34.3m YoY -€34,3m +€61.3m 55.5 39.0 0.3 Limited stock of pre-owned boats at €8.2m, of which €2.9m already sold as of -2.7 -37.0 31 December 2022 16.6 7.5 141.3 146.3 14.2 36.3 . €100.3m net cash position as of 31 December 2022, +€61.3m YoY 68.3 53.4 18.3 21.8 . €146.3m liquidity, in addition to €51.0m financial investments and €120.7m undrawn credit lines¹ -49.3 -69.1 -120.1 -156.0 -52.2 -33.5 • Strong cash generation, notwithstanding the outflows for investments, shareholding acquisitions and dividends 31-Dec-21 31-Dec-22 31-Dec-21 Others 31-Dec-22 Other financial assets including investments ■Cash on hand Net contract assets/(liabilities) Inventories Trade payables ■Short-term financial debt ■Medium/long-term financial debt Net Financial Position calculated in accordance with ESMA document 32-382-1138, 4 March 2021. A positive figure indicates a net cash position. IFRS 16 liabilities equal to €7.8m as of 31 December 2022 and €4.8m as of 31 December 2021. Excluding credit lines for reverse factoring and confirming. 1. 18#19FY 2022 RESULTS A robust, growing backlog boosted by a continuously high demand €1.1bn backlog cleared from FY 2022 Net Revenues New Yachts, +16.8% YoY, 93% sold to final clients. Extremely high cover of 2023 revenues with €617.4m backlog for current year (75.3% on 2023 guidance) and an excellent visibility on following years Order backlog quarterly evolution / (Єm) Order backlog composition / (Em) 915.6 159.1 1,810.3 248.5 224.7 262.4 €894.7m total order intake in 2022 (vs €1,092.8m in 2021), due to normalisation +16.8% 1,069.6 1,069.6 617.4 -740.7 915.6 in demand after an exceptional 2021 mainly driven by long waiting times Backlog 31-Dec-21 Order intake Order intake Q1 2022 Q2 2022 Order intake Order intake Gross backlog Net Revenues Q3 2022 Q4 2022 31-Dec-22 New Yachts FY 2022 Backlog 31-Dec-22 Backlog Backlog 31-Dec-21 31-Dec-22 Of which 2023 +€80.7m vs €371.6m as of 31-Dec-2021 (+21.7% YoY). Deliveries up to 2026 452.2 Of which 2024 and beyond Backlog is calculated as the sum of the value of all orders and sales contracts signed with customers or brand representatives relating to yachts for delivery or delivered in the current year or for delivery in subsequent years. For each year, the value of the orders and contracts included in the backlog refers to the relative share of the residual value from 1 January of the current year until the delivery date. Backlog relating to yachts delivered during the year is conventionally cleared on 31 December. 19#20FY 2022 RESULTS Visibility on coming years is persistently increasing While order collection is normalising after an extraordinary 2021 driven by the post Covid-19 rebound, visibility on future revenues keeps increasing with 42.3% of backlog beyond 2023 vs 33.6% four-year average, thanks to a structural increase in demand offset by the impact of long delivery times Year-end backlog historical evolution / (€m) 444.3 408.8 Year-end backlog cover/ (Backlog/LTM Net Revenues New Yachts) 1,069.6 Year-end backlog composition / (% of total) Average 1.6 915.6 1.4 26.2% 25.4% 33.6% Average 1.2x 40.6% 42.3% 1.0 0.9 73.8% 74.6% 66.4% 59.4% 57.7% 2019 2020 2021 2022 2019 2020 2021 2022 2019 2020 2021 2022 Beyond following year (y+2 and subsequent) Following year (y+1) Backlog is calculated as the sum of the value of all orders and sales contracts signed with customers or brand representatives relating to yachts for delivery or delivered in the current year or for delivery in subsequent years. For each year, the value of the orders and contracts included in the backlog refers to the relative share of the residual value from 1 January of the current year until the delivery date. Backlog relating to yachts delivered during the year is conventionally cleared on 31 December. 20#21Content 1. Superior and responsible business model 2. Strong and resilient growth path 3. FY 2022 Results 4. 2023-2025 Business Plan © 2023 SANLORENZO S.P.A.#224 2023-2025 Business Plan A. 2022 record year results and 2023-2025 key targets B. Road to 2030: the pillars of our quiet luxury C. Maison Sanlorenzo: pioneering a new language in yachting D. Our strategy in numbers: drivers for superior shareholders' return E. Closing remarks © 2023 SANLORENZO S.P.A. 22#234A 2022 record year results and 2023-2025 key targets ⚫ 2019-2022 Results 2023-2025 new and higher financial targets 23 © 2023 SANLORENZO S.P.A.#242022 RECORD YEAR RESULTS AND 2023-2025 KEY TARGETS 2019-2022 Results Our main achievements since the IPO in 2019 Strong performances exceeding all the guidance ranges © 2023 SANLORENZO S.P.A. +17.6% ~2x EBITDA Revenue CAGR +310 bp EBITDA margin ~2.7x Net profit +40.0% CAGR €109.4m €31.0m +58.2% Cumulated cash generation Cumulated dividends Headcount growth paid 24#252022 RECORD YEAR RESULTS AND 2023-2025 KEY TARGETS 2023-2025 new and higher financial targets 2023 FY Guidance €810-830m €118-128m €150-155m EBITDA Revenue Net Cash Position High single digit ≥19.5% 2025 EBITDA Revenue CAGR Margin © 2023 SANLORENZO S.P.A. €185-205m Net Cash Position 25#264B Road to 2030: the pillars of our quiet luxury • Sustainability and technology for a shift in the yachting paradigm Product pipeline: shaping the future A new proposition offering high value services to Sanlorenzo's customers ⚫ Direct distribution in key markets • Production capacity and supply chain strategy © 2023 SANLORENZO S.P.A. 26#27SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Marginal impact of yachting in total GHG shipping emissions Shipping: 1.7% of overall emissions Yachting: 0.22% of shipping emissions Bulk carrier- Chemical tanker- Container- General cargo Liquefied gas tanker- Oil tanker- Other liquids tankers- 214 Main Engine Auxiliary Engine Boiler 54,359 17,450 12,731 19,965 37,045 63,906 Ferry-pax only-545 Cruise 6,985 Ferry-RoPax 4,295 Refrigerated bulk 3,818 Ro-Ro 3,675 Vehicle 6,878 Yacht 553 Service tug- 2,140 Miscellaneous - fishing- 2,957 Offshore- 1,747 Service other 1,131 Miscellaneous - other 177 0 10000 20000 30000 40000 50000 60000 70000 © 2023 SANLORENZO S.P.A. Figure 5 - International, voyage-based allocation, HFO-equivalent fuel consumption (thousand tonnes), 2018, split by main engine, auxiliary engine and boiler. Highlighted values are in thousand tonnes#28SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Sustainability is no longer an option ⚫ Framework is constantly evolving, both from a technological and regulatory standpoint ● Keeping a close eye on IMO and EU regulatory path will be key ● IMO GHG reduction program – New agenda as of 15 December 2022 Units: GHG emissions 2008 as base year 2008 Peak as soon as possible Intensity: 40% reduction Revision in 2023: 100% decarbonisation by Tota % reduction Intensity: 2050? 2020 2030 2040 2050 Zero emissions as soon as possible within this century Total: Refers to the absolute amount of GHG emissions from international shipping. Intensity: Carbon dioxide (CO2) emitted per tonne-mile. 7 DNV 20 DECEMBER 2022 © 2023 SANLORENZO S.P.A. within 2100 Emission pathway in line with IMO's GHG strategy Business-as-usual emissions Emission gap MEPC 78 outcome: • Extensive exchange of views on the scheduled revision Decision point MEPC 80 (July 2023) DNV 28#29SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM The fuel cell system 2X ATEX DOSING CABINET AUX BASE CABINET METHANOL TANK REDUNDANT FANS © 2023 SAN LORENZO S.P.A. WATER TANK 4X CABINETS FOR MFC MODULES CONDENSER UNIT NITROGEN BOTTLE 29#30SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Hydrogen & fuel cells • Exclusive agreement signed in August 2021 for the joint development of solutions for the integration of fuel cells in 24-80 metre yachts • Sanlorenzo to build a 50-metre superyacht equipped with fuel cells for generating electricity on board using hydrogen, continuously reformed from methanol, delivery expected in Summer 2024, première at 2024 Monaco Yacht Show The use of green methanol, produced with solar or wind power and CO2 captured from the atmosphere, is carbon-neutral The quantity of CO2 released in the air during combustion is equal to the quantity of CO₂ captured from the atmosphere to produce green methanol SIEMENS Mrs. Francesca PELLEGRINI energy Mr. Giuseppe SACHERO © 2023 SANLORENZO S.P.A.#31SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Hydrogen & fuel cells Exclusive agreement signed in August 2022 which will allow the integration of a MTU innovative internal combustion system, powered by methanol, with Siemens Energy's methanol powered fuel cell systems First application on a Sanlorenzo Superyacht with delivery expected end 2026 mtu ☐ A Rolls-Royce solution Mr. Gianluca BONONI Mr. Wolfgang BOLLER © 2023 SANLORENZO S.P.A.#32SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Bluegame BGH MAIN SYSTEM LAYOUT HYDROGEN TANKS BATTERIES FUEL CELLS S ELECTRIC MOTOR#33SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Bluegame BGM65HH (Hydrogen-hybrid) BLUEGAME 1. Hybrid cruising mode ZERO EMISSION AT LOW SPEED Cruising 10 hours at 8 kn or 4 hours at 10 kn batteries to cover the peaks and achieve 11- 12 kn 2. Traditional cruising mode HIGH SPEED IN DIESEL MODE (max 21 kn) Main engines ON, generator and fuel cells OFF, E-motors to manage hotel load and/or fast recharge the batteries 3. Zero emission at anchor ZERO EMISSION AT ANCHOR (up to 50 hrs) fuel cells to provide the average power for hotel load (10kw), batteries OFF or in recharge mode 33#34SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM The milestones of our roadmap <24 metres 2023 BGH Sea trial Tender to American Magic (America's Cup) 2024 BGH America's Cup > 40 metres 2024 50Steel 1st ever superyacht equipped with Siemens fuel cells for hotellerie © 2023 SANLORENZO S.P.A. 2026 BGM65HH 1st ever motoryacht powered by fuel cells + Volvo hybrid engine 2028 SY Explorer 1st ever carbon neutral superyacht 34#35SUSTAINABILITY AND TECHNOLOGY FOR A SHIFT IN THE YACHTING PARADIGM Pioneering the application of green technologies, supported by agreements with major global players SANLORENZO B SIEMENS energy A Rolls-Royce mtu solution > EODev © 2023 SAN LORENZO S.P.A. VOL VO PENT A 35#36PRODUCT PIPELINE: SHAPING THE FUTURE What's next: product pipeline by Business Units Significant extension of ranges, increasing average size BUSINESS UNIT 2022 2023-2025 2025 #Models New Updated #Models Yacht 13 4 4 17 Superyacht 7 1 4 8 Bluegame 6 5 1 11 Total 26 10 9 36 © 2023 SANLORENZO S.P.A. 36#371958 CANTIERI PRODUCT PIPELINE: SHAPING THE FUTURE An iconic timeless design SAN LORENZO 1995 2010 31 37#38PRODUCT PIPELINE: SHAPING THE FUTURE What's next: product pipeline by Business Units Yacht SP110 38 © 2023 SANLORENZO S.P.A.#39PRODUCT PIPELINE: SHAPING THE FUTURE What's next: product pipeline by Business Units Superyacht 73Steel DE 39 © 2023 SANLORENZO S.P.A.#40PRODUCT PIPELINE: SHAPING THE FUTURE What's next: product pipeline by Business Units Bluegame BGM75 © 2023 SANLORENZO S.P.A. BLUEGAME 40 40#41A NEW PROPOSITION OFFERING HIGH VALUE SERVICES TO SAN LORENZO'S CUSTOMERS Overview of Sanlorenzo High-End Services The reason why Add a strong competitive advantage in Sanlorenzo's value proposition Increase loyalty of clients who will experience an effectively advantageous and peace-of-mind relationship with the shipyard Strengthen the brand positioning in the top end luxury segment A 360° premium service package Sanlorenzo Charter Fleet, the first monobrand charter fleet ever (Equinoxe acquisition) Crew training through Sanlorenzo Academy ● Tailor-made leasing/financing and insurance package • Maintenance, refit and restyling services through Sanlorenzo Timeless H HIGH-END SERVICES EQUINOXE YACHTS © 2023 SANLORENZO S.P.A. 1111 41#42Source: The State of Yachting 2022, SuperYacht Times. © 2023 SANLORENZO S.P.A. A NEW PROPOSITION OFFERING HIGH VALUE SERVICES TO SAN LORENZO'S CUSTOMERS Maintenance & Refit services High potential anti-cyclical activities consistently expanding A Two-step approach: ● Offering a 3-5 year contractual maintenance package, extending the warranty period Refit activities, upside in the business plan 1986 1987 1988 1989 1,025 1990 1,090 1991 1,169 1992 1,238 1993 1,305 1994 1,370 1995 1,492 1996 1,485 1997 1,557 1998 1,643 1999 1,731 2000 1,835 2001 1,952 2002 2,093 2003 2,240 2004 2,411 +5.4% Constant increase in yacht fleet >30-metre fleet development 1986-2021 1986-2021 CAGR 2005 2,577 2006 2,793 2007 3,031 2008 3,290 2009 3,507 2010 3,716 2011 3,891 2012 4,083 2013 2014 4,404 4,254 2015 4,547 2016 2017 4,851 4,704 2018 4,950 2019 2020 5,245 5,096 2021 5,396 2017 512 512 2018 2019 2020 2021 644 42 2017-2021 CAGR 834 +16.4% A growing market Refitting >40 meters, 2017-2021#43DIRECT DISTRIBUTION IN KEY MARKETS Direct global coverage strategy Extension of direct distribution in key markets - Americas, APAC, EMEA (Monaco/Côte d'Azur, Balearic Islands) so as to increase profitability, to enhance value proposition and to facilitate cross selling in high end services © 2023 SANLORENZO S.P.A. AMERICAS Sanlorenzo of the Americas EMEA Sanlorenzo HDQS Sanlorenzo Baleari Monaco & Côte d'Azur H1 2023 800 00000 APAC Sanlorenzo APAC Simpson Marine acquisition expected in H1 2023 0000 Direct distribution through Group companies 43#44DIRECT DISTRIBUTION IN KEY MARKETS Acquisition of Simpson Marine 2023: extensive direct coverage of Asian countries 12 sales showrooms 10 service points © 2023 SANLORENZO S.P.A. CHINA Shanghai Shenzhen Taipei Penghu Kaohsiung PACIFIC OCEAN Hong Kong Sanya Pattaya INDIAN OCEAN Phuket MALAYSIA VIETNAM (coming soon) Port Dickson SINGAPORE INDONESIA Jakarta Bali PHILIPPINES (coming soon)#45DIRECT DISTRIBUTION IN KEY MARKETS Acquisition of Simpson Marine Singapore SANLORENZO SANLOR NZO RENZO#46PRODUCTION CAPACITY AND SUPPLY CHAIN STRATEGY Increasing production capacity to support revenue growth Progressive investments to enhance capacity increase Production capacity 2022 of ~100K square meters, 79% utilized ⚫ +25% increase in production capacity in the 2023-2025 period along with optimization of current industrial facilities to target ~85% utilization by the end of 2025 ● Additional ~20% industrial capacity (on properties already owned) to support potential upside in production volumes 79% Industrial Capacity Utilization +25% Capacity ~85% Industrial Capacity Utilization +20% Capacity upside © 2023 SANLORENZO S.P.A. 2022A 2025E Upside 46 46#47PRODUCTION CAPACITY AND SUPPLY CHAIN STRATEGY Equity investments in strategic supply chain players Disciplined investments in vertical integration of key manufacturing processes through partnerships and minority equity stakes in strategic suppliers Objectives: ⚫ Secure procurement of key materials and making Add new production capacity Increase agility and flexibility in manufacturing processes Ensure direct quality control over production. Extend Sanlorenzo's sustainable standards to the supply chain Arbatax: new site dedicated to the production of small/medium-size composite semi-finished parts, expected to be fully operational in 1H2023, with further potential of expansion CARPENSALDA DUERRE SEA ENERGY ACHT DIVISION YACHT ELECTRICAL SYSTEMS Activity Stake Metal carpentry Furnishings 48% 33% Electrical system 49% © 2023 SAN LORENZO S.P.A. ARBATAX Composite parts 100% 47 17#484C Maison Sanlorenzo: pioneering a new language in yachting • Maison Sanlorenzo From sustainability to responsibility 48 © 2023 SANLORENZO S.P.A.#49MAISON SANLORENZO Maison Sanlorenzo since 1958 © 2023 SANLORENZO S.P.A. CANTIERE SAN LORENZO BAR SPORTSMAN CANTIERE SAN LORENSO THUNDERFISH 49#50MAISON SANLORENZO Interior design Bringing on board for the first time interior design archistars PIERO LISSONI STUDIO LIAIGRE G. ROLLAND JOHN PAWSON STUDIO CITTERIO DORDONI ARCHITETTI PATRICIA URQUIOLA © 2023 SANLORENZO S.P.A. 50#51MAISON SANLORENZO Design beyond interiors 51 © 2023 SANLORENZO S.P.A.#52MAISON SANLORENZO Docking in art The contamination of interior design and architecture has naturally led Sanlorenzo into the world of art Milan Design Week - FABBRICA (2022) Milan Design Week - THE ARK (2019) Milan Design Week - LA MACCHINA IMPOSSIBILE (2023) BANLORENZO Art Basel, exclusive partner since 2018 Art Basel Miami Beach (2022) © 2023 SANLORENZO S.P.A. 52 52#53FROM SUSTAINABILITY TO RESPONSIBILITY Outgrowing our DNF commitments A new culture that embraces all stakeholders in a common journey ENVIRONMENT GOVERNANCE © 2023 SANLORENZO S.P.A. Training: Sanlorenzo Academy Engaging & supporting suppliers Fondazione Sanlorenzo 2022 2018 2021 SOCIAL • • 50-60 target graduates • Access to SL per year Academy . • 60% of the graduates hired • Access to Sanlorenzo's structured financial platform Foster young people's educational path Support and promote the development of the Italian minor Islands • Promote Art and Culture . Headquarters in a Venice historical building 53#544D Our strategy in numbers: drivers for superior shareholders' return • Market scenario 2023-2025 solid growth profile © 2023 SANLORENZO S.P.A. 54 54#55MARKET SCENARIO Increase in UHNWIs underpinning the yachting market growth Growth of target customers in key geographies and a penetration rate of luxury yachting estimated below 3% testify to a large untapped potential client base +18k Average annual increase in UHNWIS between 2012 and 20211 +24k Expected average annual increase in UHNWIS from 2021 to 20261 Number of UHNWIS/ Individuals with net worth above $50m 385,000 Number of yachts >24m built each year Of which 47.6% built in Italy² 1,203 174,800 168,030 148,200149,890 140,900 128,200123,800 98,700 218,200 264,200 830 807 821 728 735 734 754 760 773 692 1,024 2.5% 3% Estimated current penetration of yachting into UHNWI population.3 Π 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2026E 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 1. Source: Credit Suisse Global Wealth Report 2022. 2. 3 Source: Global Order Book 2023 - BOAT International, December 2022. The Global Order Book counts all projects over 24 metres length overall on order or in build signed with a minimum 10% deposit received, on 1 September each year Source: Deloitte Boating Market Monitoring 2023 © 2023 SANLORENZO S.P.A. 55#56MARKET SCENARIO A new client mindset is shaping the yachting industry The willingness to enjoy intimate and safe stays is attracting a new generation of yacht buyers Average age of Sanlorenzo superyacht new buyers¹ ~56 years 48 years Previous Current² Average days ~60 days ~120 days spent on board3 Previous Current 4.5 years Frequency with which a SL repeat client changes yacht4 + 68.6% Average increase in value of the latest yacht bought by a SL repeating client versus the previous one4 1. Based on the contracts for the sale of superyachts signed between 2016 and 2020 2. 123+ Based on the contracts for the sale of superyachts signed in 2021 and H1 2022 3. Based on discussions with clients 4. Based on the contracts signed with repeat clients from 2012 to H1 2022 Search for a well-balanced life with freedom, safety and privacy New technologies for connectivity, significantly extending the time spent on board Sanlorenzo is still leveraging on its high customer retention, benefitting from clients' trading-up 56#572023-2025: SOLID GROWTH PROFILE Visibility on coming years persistently increasing +21.7% YoY Deliveries up to 2026 ● A robust, growing backlog boosted by a continuously increasing high demand ● €1.1bn backlog cleared from FY 2022 Net Revenues New Yachts, +16.8% YoY, 93% sold to final clients Approx. 75% 2023 revenue coverage, plus €450m revenue in 2024 and beyond Very limited stock available in our brand representatives network ● Extremely low availability of second hand yachts in the market Order backlog composition / (€m) 915.6 1,069.6 617.4 452.2 Backlog 31-Dec-21 Backlog 31-Dec-22 Of which 2023 Of which 2024 and © 2023 SANLORENZO S.P.A. beyond 57 57#582023-2025: SOLID GROWTH PROFILE Steady top line increase High single digit revenue growth driven by price and product mix High single digit CAGR ~3% price increase per year ⚫ Shift towards larger yachts in each business unit Consistent organic growth Evolution / (Єm) 741 high single 810-830 digit cagr Breakdown by division 10% 27% 63% 2 2022A 2023E 2025E 2022A 2025E © 2023 SANLORENZO S.P.A. Breakdown by geography 6% 15% 23% 56% Bluegame Superyacht Yacht 2 2022A 2025E MEA - АРАС Americas ■Europe 58#592023-2025: SOLID GROWTH PROFILE Strong focus on profitability: continued expansion of margins EBITDA margin equal to or above 19.5% in 2025 ● '22-'25 CAGR acceleration in profitability key metrics Shift towards larger yachts in each business unit Direct distribution in key markets and verticalization in strategic supply chain Higher absorption of fixed costs and operating efficiencies Consistent and progressive increase in superyacht margins EBITDA (1)/(€m) Net profit (Em) ≥19.5% ~18.5% 18.7% 17.6% 150-155 130 2022A 2023E 2025E 10.5% 10.0% 84-86 74 2022A 2023E 2025E 59 (1) The figure in 2022A refers to Adjusted EBITDA; the figure in 2023E refers to reported EBITDA, which deferred from Adjusted EBITDA for less than 0.5%. On a like-for-like basis, excluding the contribution from extraordinary transactions or business combinations. Refer to notes in the appendix regarding forward-looking statements#602023-2025: SOLID GROWTH PROFILE Remarkable cash generation and sound balance sheet Net cash position expected to more than double in three years Disciplined approach to capex, mainly dedicated to boost R&D and production capacity ● Continued sustained cash conversion ● Neutral net working capital thanks to a unique business model 30-40% dividend pay-out expected Capex (€m) 50 50 48-50 2022A © 2023 SANLORENZO S.P.A. €100m+ cash generation Net cash position (€m) 185-205 118-128 85-105 100 2023E 2024E 2025E 2022A 2023E 2025E 60 60#612023-2025: SOLID GROWTH PROFILE 2023-2025 solid growth profile focused on margin expansion and cash generation €m Margin as % of Net Revenues 2019 2020 2021 2022 New Yachts Actual Actual Actual Actual 2023 Guidance 20255 Outlook Net Revenues New Yachts 1 455.9 457.7 585.9 YOY GROWTH % +0.4% +28.0% 740.7 +26.4% 810-830 +11% HIGH SINGLE-DIGIT Revenue CAGR '23-'25 EBITDA 2 66.0 70.6 95.5 130.2 150-155 YOY GROWTH % +7.0% +35.3% +36.3% +17% EBITDA Margin 2 14.5% 15.4% 16.3% 17.6% YOY GROWTH % +0.9% +0.9% +1.3% 18.5%-18.7% +1.0% ≥19.5% Group Net Profit 27.0 34.5 51.0 74.2 84-86 YOY GROWTH % +27.7% +47.8% +45.5% +15% Capex 3 51.4 YOY GROWTH % 30.8 -40.1% 49.2 50.0 48-50 95-105 +59.7% +1.6% Net Cash Position 4 (9.1) 3.8 39.0 100.3 CASH GENERATION +12.9 +35.2 +61.3 -2% 118-128 +18-28 Cumulated '24-'25 185-205 100+ cash generation Calculated as the sum of revenues from the sale of new yachts (recognised over time with the cost-to-cost method) and pre-owned boats, net of commissions and trade-in costs of pre-owned boats. 1. 2. The figures from 2019 to 2022 refer to Adjusted EBITDA; the figures from 2023 to 2025 refer to reported EBITDA, which deferred from Adjusted EBITDA for less than 0.5% 3. 4. 5. Increases in property, plant and equipment and intangible assets, net of the carrying amount of related disposals, at constant perimeter. FY 2022 reported figure €59.0m, including the consolidation of Polo Nautico Viareggio S.r.I., I.C.Y. S.r.l. and Equinoxe S.r.l.. Calculated in accordance with ESMA document 32-382-1138, 4 March 2021. A positive figure indicates a net cash position. For the guidance range, annual growth is calculated on the average figure. © 2023 SAN LORENZO S.P.A. 61#624E Closing remarks • Strong acceleration of UHNWIs matched with low penetration in the potential market Leaders in the sustainable journey to carbon neutrality in yachting Progressive expansion in industrial capacity to support growth • Solid visibility of future performances • Strategic decisions driven by profitability. • Confirmed resilience of the excellent business model in a new scenario • Robust cash conversion • Sound use of cash: • 30-40% dividend pay-out expected, excluding extraordinary capex and M&A M&A based on selected criteria consistent with our brand positioning Infrastructure capex to further develop the High-end Services business © 2023 SANLORENZO S.P.A. 62 62#63Empty#64Notice to recipient This presentation is being provided to you solely for your information and it may not be reproduced or redistributed to any other person. The information contained in this presentation, which has been prepared by Sanlorenzo S.p.A. (the "Company") and its consolidated subsidiaries (together, the "Group") and it is under the responsibility of the Company, does not constitute or form part of any offer to sell or issue or invitation to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. The information and opinions contained in this document are provided as at the date of the presentation and are subject to change. Neither the Company nor the Group are under any obligation to update or keep current the information contained in this presentation. The director in charge of preparing the corporate accounting documents, Attilio Bruzzese, declares that pursuant to and for the purposes of article 154-bis, paragraph 2 of Italian Legislative Decree no. 58 of 1998, the accounting information contained in this document corresponds to company documents, ledgers and accounting records. Forward-Looking Statements: this document may include projections and other "forward-looking" statements within the meaning of applicable securities laws. In particular, all statements that address expectations or projections about the future, including statements about operating performance, market position, industry trends, general economic conditions, expected expenditures, cost-savings, synergies and financial results, are forward-looking statements. Consequently, any statements contained herein that are not statements of historical fact are forward-looking statements. Forward-looking statements are based on assumptions and current expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Accordingly, actual events or results or actual performance of the Company or the Group may differ significantly, positively or negatively, from those reflected or contemplated in such forward-looking statements made herein. The Group expressly disclaims any duty, undertaking or obligation to update publicly or release any revisions to any of the information, opinions or forward looking statements contained in this document to reflect any events or circumstances occurring after the date of the presentation of this document. No representation or warranty is made as to the achievement or reasonableness of, and no reliance should be placed on, such forward-looking statements. Any reference to past performance or trends or activities of the Company shall not be taken as a representation or indication that such performance, trend or activity will continue in the future. This presentation contains alternative performance indicators that are not recognized by IFRS. Different companies and analysts may calculate these non-IFRS measures differently, so making comparisons among companies on this basis should be done very carefully. These non-IFRS measures have limitations as analytical tools, are not measures of performance or financial condition under IFRS and should not be considered in isolation or construed as substitutes for operating profit or net profit as an indicator of our operations in accordance with IFRS. Contacts www.sanlorenzoyacht.com [email protected] © 2023 SANLORENZO S.P.A. 64#65Alternative performance indicators: definitions Net Revenues New Yachts EBITDA Adjusted EBITDA Investments or capex Net working capital Net cash position Net Revenues New Yachts are calculated as the sum of revenues from the sale of new yachts (recognised over time with the cost-to-cost method) and pre-owned boats, net of commissions and trade-in costs of pre-owned boats. EBITDA is calculated by adding amortisation/depreciation expenses to operating profit/loss. EBITDA margin is calculated on Net Revenues New Yachts. Adjusted EBITDA is calculated by adding amortisation/depreciation expenses to operating profit/loss, excluding minor non recurring items. Adjusted EBITDA margin is calculated on Net Revenues New Yachts. Investments refer to increases in property, plant and equipment and intangible assets, net of the carrying amount of related disposals. Net working capital is calculated as the sum of trade receivables, contract assets, inventories and other current assets, net of trade payables, contract liabilities, provisions for current risks and charges and other current liabilities. Net financial position is calculated on the basis of guidelines issued by ESMA and reported in ESMA document 32-382-1138 of 4 March 2021 (Consob Warning Notice no. 5/21 for Consob Communication DEM/6064293, 28 July 2006), as the sum of liquidity (including cash equivalents and other current financial assets), net of current and non-current financial indebtedness, including the fair value of hedging derivatives. If positive, it indicates a net cash position. © 2023 SANLORENZO S.P.A. 65