Strong and Resilient Growth Path

Mostly expansionary capex to support the next wave of growth Net capex at €6.0m, 3.3% on Net Revenues New Yachts, of which only €0.4m recurring Capex at €6.0m, of which ~47% related to further expansion of industrial production capacity ~40% related to new product development and sustainability projects for green methanol application YoY comparison / (Єm and % of the total for the period) 4.8% 3.9% 3.3% 6.3 6.0 in new models 5.6 0.5 (8.0%) 0.3 (5.7%) Other investments Broadly consistent amount of 1.1 (19.4%) capex over time translates into a 2.4 (39.9%) 3.2 (50.0%) R&D and product development decreasing incidence on revenues, as investments are 0.4 (7.2%) I Recurring industrial spread over a larger base 3.4 (61.0%) 0.7 (10.5%) Overall capex progressing in line with guidance New industrial capacity 2.8 (47.3%) 0.5 (8.6%) 2.0 (31.5%) 0.6 (11.0%) Capex as % of Net Revenues New Yachts Q1 2021 Q1 2022 Q1 2023 29 Investments refer to increases in property, plant and equipment and intangible assets with a finite useful life, net of the carrying amount of related disposals

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