Strong and Resilient Growth Path

Supportive pricing dynamics driving further margin expansion EBITDA margin at 17.0%, further 130bps expansion YoY supported by product scarcity value and brand equity EBITDA / EBIT/ Group net profit/ Strong backlog and limited supply providing headroom for tactful ASP increase strategy (Єm and margin % on Net Revenues New Yachts) (Єm and margin % on Net Revenues New Yachts) (Єm and margin % on Net Revenues New Yachts) Overall cost inflation cooling down EBIT margin +110bps YoY, thus margin expansion at EBITDA level substantially translating into the bottom operating margin, notwithstanding the significant growth Capex undertaken during previous year Net profit margin +90bps, even considering a higher effective tax rate in the first quarter, at 28.1% (approx. +50bps) and a negative contribution from equity- accounted associates (-€257k) +50.7% +21.2% 17.0% 15.7% 14.5% 31.2 17.1 25.7 +64.7% +22.0% 13.2% 12.1% 24.2 10.2% 19.8 12.0 +69.3% +23.0% 9.4% 8.5% 7.0% 17.2 14.0 8.3 Q1 2021 Q1 2022 Q1 2023 Q1 2021 Q1 2022 Q1 2023 Q1 2021 Q1 2022 Q1 2023 28

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