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INNOVATEC S.p.A.

THE BOARD OF DIRECTORS APPROVES FY 2022 RESULTS

GROUP DEVELOPMENT CONTINUES NET PROFIT +70%: €10.6 Million

REVENUES +21%: €289 Million EBIT +74%: A €18,7 Million THROUGH AN OPTIMAL MANAGEMENT OF THE GROUP ASSET BASE • EBIT margin: 6,5% (2021PF: 4,5%)

DESPITE THE IMPACT OF THE MACROECONOMIC ENERGY SCENARIO AND REGULATORY UNCERTAINTY ON THE ECOBONUS EBITDA at €32,4 Million in line with 2021PF: €32,9 Million • EBITDA margin 11,2% (2021PF: 13,8%)

STRENGTHENED WITH ASSETS AND EXPERTISE THE GROUP'S COMPETITIVE POSITIONING IN THE CIRCULAR ECONOMY:

• Capex: €20 Million

• M&A: €21 Million
  • HR: +163

NET FINANCIAL INDEBTNESS AT €49,7 Million (31.12.2021: €10 Million) • acceleration in M&A and Capex • increase in net working capital following the business development of EE ecobonus

******

INNOVATEC S.P.A. NET PROFIT AT €5.9 Million (2021: LOSS €-0.9 Million) NET EQUITY AS AT 31 DECEMBER 2022: €30 Milliom

Milan, 29 March 2023 - The Board of Directors of Innovatec S.p.A. (BIT: INC, ISIN: IT0005412298), listed on the market Euronext Growth Milan ("EGM") market, met today to review and approve Innovatec's consolidated financial statements and draft financial statements for the financial year 2022.

Innovatec ended the financial year 2022 with positive results, continuing along its development path despite a phase marked by significant macroeconomic uncertainties and characterised by higher energy costs and random ecobonus legislation. The 2022 economic results showed significant economic and industrial growth for the Group thanks to the contribution of all business units. In particular, consolidated operating revenues and margins benefited from the solid performance of the Environment and Circulation business and the Energy Efficiency

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

business, which, however, were affected in the last half of the year by marginality pressures as a result of higher energy costs, and, with reference to the EE business only, by repeated regulatory changes related to ecobonus 110. Against this backdrop, Innovatec nevertheless continued its path of investments, both organic and inorganic, to support future growth, implementing a series of actions, optimisations and operational efficiencies in relation to the management of its strategic assets, which allowed the Group to record its best ever Net Profit of Euro 10.8 million.

CEO, Dr. Matteo Marini commented: "The 2022 results confirm Innovatec's ability to execute and seize market opportunities and to rapidly implement a series of actions that have enabled us to continue our investment path in support of future growth and to record revenues of approximately Euro 290 million and a net profit of Euro 11 million thanks to our consolidated asset base, albeit in a context of high energy prices and regulatory stop&go that have generated cost pressures".

Innovatec Group Results

The consolidated results for the year 2022 compared to the full year 2021 and 2021 pro forma ("2021PF"), can be detailed as follows:

Innovatec Group

Revenues 2022 increased to Euro 289.2 million (+22%) achieved in an extremely challenging regulatory and market environment. Positive results were achieved by the Energy Efficiency business - which generated revenues of Euro 113 million (+67%) driven by the ecobonus 110 - and the Environment and Circular Economy business, which recorded revenues of Euro 175 million (+3%) with increasing volumes and prices, demonstrating the solidity, development capacity and sustainability of the business.

Despite the impact of the macroeconomic and regulatory scenario, EBITDA amounted to Euro 32.4 million, substantially in line (-1%) with last year's pro forma figure, despite being affected by higher energy prices and higher costs deriving from ecobonus regulatory stop&go. Margins were also affected by higher overhead and structural costs incurred for business development and M&A and integration activities. The Environment and Circular Economy business achieved an EBITDA of Euro 22 million (-3%), Energy Efficiency recorded an EBITDA of Euro 12.1 million (+8%), while the holding company's net fixed overhead costs amounted to Euro -1.6 million. The EBITDA margin 2022 thus stood at 11.2%, compared to 13.8% last year.

EBIT for the financial year increased 74% year-on-year to Euro 18.7 million (2021PF: Euro 10.7 million) and EBIT margin to 6.5% (2021PF: 4.5%). The operating margin benefits from the optimisations applied by the group to the management of its strategic assets - first and foremost those related to material disposal and recovery activities -

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and from the higher percentage weight in 2022 of the Energy Efficiency business, which is less capital intensive than the Environment and Circular Economy business.

The table shows the operating results by business unit:

Profit Before Tax 2022 amounted to Euro 16.8 million, up 55% compared to the pro forma 2021 figure of Euro 10.8 million net financial expenses of Euro 1.6 million (2021PF: net financial income: Euro 0.4 million) as a result of the higher average financial debt. Group net profit amounted to Euro 10.7 million, up 71% compared to the previous year pro forma after accounting taxes of Euro 5.3 million and minority interests of Euro 0.8 million. The Group's consolidated shareholders' equity amounted to Euro 41.9 million (31 December 2021: Euro 25.4 million).

In a complex macroeconomic context that has emerged in 2022, Innovatec has accelerated its investments in M&A and Capex to strengthen its competitive position in the circular economy and renewable energy sectors, once again demonstrating its strong execution skills and business vision in order to seize market opportunities, also in light of the acceleration imposed by policy makers and businesses of an energy and ecological transition path that is now structural and unavoidable. Innovatec, in the financial year 2022 alone, has sustained investments in M&A of about Euro 21 million, has made investments in plant engineering of about Euro 20 million and has increased the human capital at the service of the development of the group's core businesses by 163 people. The Environment and Circulation business is consolidated following recent acquisitions, creating value from operational synergies and confirming the effectiveness of the vertical approach in the materials recovery sector. During 2022, Innovatec expanded its corporate positioning by enriching its portfolio of offerings with Cobat S.p.A., verticalisations (M&A of companies operating in the weee sector) and new consortia (textiles), as well as in the construction of material recovery and treatment plants (i.e. plasterboard, mattresses, lithium) and in obtaining new authorisations to expand the capacity of proprietary and under management disposal sites. Innovatec has also strengthened its sales and technical networks in the territory and launched a new division dedicated to Photovoltaics - B2B, building on the group's consolidated expertise in this sector, in addition to the recently acquired ESI S.p.A. (an EPC company listed on the EGM with a proprietary equity share of around 29%). This acquisition, together with the investment made by Innovatec in the innovative start-up dedicated to the supply of green energy Frisbi S.r.l., denotes the group's firm desire to position itself firmly and promptly in a market - renewables and energy communities - which will see exponential development in the next few years and requires specific skills in order to be tackled profitably.

For these reasons, the net financial debt went from Euro 10 million to Euro 49.7 million in 2022. The positive cash generation ensured by operating profitability was put at the service of Capex and M&A for about Euro 40 million (to add financial debts of Euro 14 million accounted for in the acquired companies), while the period saw an increase in net working capital of about Euro 20 million, mainly due to the increase in Energy Efficiency revenues and the lengthening of the time required to cash the 110% ecobonus tax credits following the erratic behaviour of the

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national legislator, which impacted the operations of credit institutions. Debt and interest coverage ratios are at physiological levels.

The Group's Net Invested Capital increased from Euro 40.7 million at the end of December 2021 to Euro 96.3 million at 31 December 2022 as a result of the aforementioned acquisitions, investments and increase in working capital.

In summary, the 2022 results confirm the soundness of the Group's business model and the direction pursued as a primary operator in the Clean Tech Industry, which aims to become a reference point in the ecological and energy transition path of its customers.

Innovatec S.p.A. FY 2022 Results

I risultati di Innovatec S.p.A. per l'esercizio 2022 comparati con l'intero anno 2021 possono essere così dettagliati:

Innovatec S.p.A. Euro/000 KEY FIGURES 2022 2021 Var% Revenues 2.296 2.297 0% Dividends 7.000 0 >100% Total Income 9.296 2.297 >100% EBITDA Adj 5.408 (503) >100% Net Profit 5.185 (898) >100% 31-dic-22 31-dic-21 Var% Net Capital Invested 45.822 39.228 17% Net Equity 29.986 18.645 61% Net financial Indebteness (15.836) (20.582) 23% HR 6 4 50%

Innovatec S.p.A. stand alone recorded Revenues of Euro 2.3 million in line with last year and essentially reflect intercompany service activities for Euro 1.3 million (2021: Euro 1.7 million) and non-recurring income of Euro 0.9 million (2021: Euro 0.6 million) deriving from the valorisation of TEE certificates recognised by the GSE on works carried out as part of the 2014-2015 "greenhouses project". The Company also recorded dividend income of Euro 7 million from its subsidiary Innovatec Power S.r.l.. Net Profit amounted to Euro 5.2 million (2021: loss Euro -0.9 million): dividends from the subsidiary largely offset structural and interest costs recorded in the year for the development of the Group's core businesses. As a result of the positive result, Shareholders' Equity increased to Euro 30 million.

Net Invested Capital was about Euro 45.8 million, up Euro 6.6 million from Euro 39.2 million last year, mainly due to higher receivables from the subsidiary Innovatec Power S.r.l. for residual dividends to be received (Euro 5.9 million) and intercompany receivables for IRES tax group consolidation (Euro 3.6 million) partially offset by IRES payables of Euro 3 million.

Net financial debt as at 31 December 2022 improved to €15.8 million (2021: €20.6 million). The Company, with the issue at the end of December 2022 of the Basket Bond of Euro 8 million, in addition to the Bond issued at the end of December 2021 of Euro 10 million, rebalanced - at the service of the subsidiaries - its short- and mediumterm financial structure by lengthening the average debt duration by about 3 years and maintaining cash on hand at 31 December 2022 of Euro 4.4 million.

Foreseeable development of operations

The results achieved by the Group in 2022, in a complex macroeconomic and regulatory scenario, confirm the validity of the initiatives underlying our 2022-2024 development plan. Indeed, the 2022 financial year, the best ever, confirms Innovatec's ability to execute. Innovatec was able to seize market opportunities and promptly and effectively implement a set of corrective measures that enabled the Group to achieve revenues close to €290 million

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and a net profit of €11 million despite a context of high energy prices, inflation and regulatory stop&go that affected especially the ecobonus sector.

In this general economic context marked by some significant uncertainties that are expected to persist at least in the short term, the acceleration imposed by policy makers towards the energy and environmental transition remains unchanged. The attention paid by companies and families to sustainable solutions and services in the field of the environment and energy efficiency, accentuated by fluctuations in electricity and gas prices, has imposed new service standards that see Innovatec in a privileged position to respond effectively to the market demand for sustainability. The Group's strengths: expertise, strategic assets and a wide-ranging offering, represent the levers that Innovatec intends to continue to exploit in order to seize the further development opportunities that have emerged in the CleanTech sector.

Innovatec in 2022 continued along its path of investments, both organic and inorganic, to support future growth. The Environment and Circulation business was strongly consolidated during the year as a result of the acquisitions completed in the second half of the year, creating value from operational synergies and confirming the effectiveness of the vertical approach in the materials recovery sector. In fact, Innovatec has strategically accelerated its green investment plan in 2022 in the direction of a general technological upgrade in order to reinforce the Group's capacity in consolidated sectors such as batteries and WEEE, as well as in new market niches (plasterboard and mattresses), with the intention of carving out a leading role also in the vast field of textile waste recovery. Investments are also continuing in order to be ready in the near future for the treatment and recovery of lithium batteries, on which the Group has two proprietary patents. The Environment and Recycling business is solid and is continuing to demonstrate its capacity for organic development in terms of turnover, margins and cash generation, on the strength of an asset base of 18 plants, 8 thousand customers, 600 thousand tonnes per year of waste treated and more than 60 Cobat collection centres.

With reference to the Energy Efficiency business, the Group in the last two years has been able to seize market opportunities with speed, with a whirlwind growth in sector revenues that have risen from less than Euro 10 million in 2020 to about Euro 113 million in the last financial year. Repeated regulatory changes regarding tax incentives related to energy requalification works on real estate (primarily the so-called Superbonus 110%), not only led to pressure on margins in the last quarter of 2022 that will continue also in the first part of 2023, but above all generated uncertainties on the future of the incentive measure and considerably slowed down the development of these initiatives.

On this basis, a number of actions have already been set up in the Energy Efficiency sector in 2023 to enable the Group's position to be more resilient to the inevitable regulatory changes by: i) utilising the time factor and Innovatec's competitive position to optimise its procurement capacity and EPC sub-contracting activities in financial and economic terms, and ii) only signing new ecobonus orders in the presence of a financial contribution from the customer and credit facilities.

The regulatory stop-and-go has urged the Group to accelerate and reshape its industrial strategies towards finding the right balance between volumes and margins, also thanks to the launch of further initiatives in the energy sector, which have flanked the more traditional B2B and PA energy efficiency measures, energy communities and photovoltaics, including agri-voltaics. The efforts made in the second half of 2022 to set up an effective network and commercial proposal in the photovoltaic sector are beginning to show the first positive results: as of today, we have a development pipeline of about 120 MWp in medium-large photovoltaics, 118 MWp in B2B medium-sized photovoltaics, and we are continuing our collaboration with agricultural trade associations, with whom we expect to develop about 70 MWp in agrovoltaics. In connection with HouseVerde ecobonus, the possibility of converting the residual pipeline of contracts finalised and in the process of being finalised - which in total amount to approximately €130 million - into turnover remains tied to the finding of bank plafonds for the assignment of tax credits. In this area, Innovatec is excellently positioned thanks to the work carried out in the latter part of the year in selecting those projects that already had "Cila" submitted by the November deadline, thus being able to overcome the recent halt imposed by the government on assignment of ecobonus credits.

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

It is also the Group's priority for 2023 to reinforce the search for synergies, both industrial and cost, from the investments made, with the intention of maximising the return extracted from the acquisitions made during 2022, which redesigned the Group's perimeter.

The results achieved and the growing dynamism of the circular economy and renewables sectors confirm the validity of our strategic growth path despite an even more challenging scenario than the one originally envisaged in February 2022, which will necessarily have to be incorporated into our development plan.

Significant events in 2022

M&A activity in the Environment and Circular Economy business unit

The M&A activity that took place in 2022 in the Environment and Circular Economy business unit is part of an industrial path of growth and presidium - in strategic locations in order to guarantee complete coverage from a geographical point of view - of a virtuous recycling supply chain with high added value, by acquiring newly designed plants dedicated to the recovery of waste from electrical and electronic equipment, photovoltaic panels, glass and plastic and wood waste as well as metal and glass recovery.

In 2022, Haiki+ S.r.l. has:

• acquired in two tranches 89.996% of S.E.A. S.p.A., - Servizi Ecologici - Ambientali", a company located in Romano d'Ezzelino (VI) active in the collection, recovery and treatment of waste from electrical and electronic equipment ("WEEE"). The consideration for the acquisition came to a total of € 3,625 thousand, of which € 2,750 thousand paid in cash and the remainder to be paid in five annual instalments worth € 175 thousand each by 31 December of each year, starting from that already paid as of 31 December 2022. With SEA, the Group consolidates the subsidiary's own financial debt for about € 4.5 million.

• acquired, on 28 October 2022, 70% of Puliecol S.r.l., a company that owns a complex of plants located in San Severino Marche and operates in the collection, recovery and treatment of waste from electrical and electronic equipment "WEEE". The consideration for the acquisition was Euro 2.8 million, of which Euro 2 million was paid on the same date to the selling shareholder Mr. Compagnucci Leonardo, who remains a shareholder of Puliecol with a 30% stake. The remaining consideration will be paid to the seller in two instalments: the first of Euro 0.4 million already paid on 31 December 2022 and the second of the same amount by 30 June 2023. The sale and purchase agreement also provides for the right to purchase the remaining 30% (the "Call") to be exercised within three months from the expiration of the term of three years from the date of payment of the last tranche (and therefore indicatively within the term of 30 September 2026). A performance bonus of €0.4 million is also envisaged in the event Haiki+ exercises the Call and only if the EBITDA achieved by Puliecol in 2024 and 2025 is not lower than the plan targets.

• acquired, on 3 November 2022, 70% of AET S.r.l., a company owning a plant located in San Pietro di Morubio (VR) and active in the selection, valorisation and start-up for recycling of the plastic fraction obtained from the treatment of waste from electrical and electronic equipment "WEEE". The consideration for the acquisition was Euro 2.7 million, of which Euro 0.85 million was paid on the same date to the selling shareholder Mr. Paolino Guido Pavan, who remains a shareholder of AET with a 30% stake. The residual consideration will be paid to the seller in two tranches: the first of Euro 0.55 million paid on 31 December 2022 and the second of a maximum of Euro 1.32 million by 30 June 2027.

These transactions give continuity to Innovatec's strategy of accelerating the path of ecological transition with the acquisition of plants to be used for the treatment of material flows intercepted by supply chain consortia.

In addition, in the first quarter of 2022, the Group increased its shareholding in Cobat S.p.A. from 56.45% to 75.96% with the payment of a consideration of € 2.3 million and acquired 100% of the shareholding of the related company Bensi 3 S.r.l., holder of the lease on the property in Via Bensi 12/3 Milan (value € 3.6 million) adjacent

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to the Group's headquarters, which in turn is leased to Green Up S.p.A.. The consideration for the purchase of the equity investment amounted to Euro 1.4 million (leasing financial debt outstanding as at 31 December 2022: Euro 2.2 million).

M&A Activities of the Energy Efficiency and Renewable Energy Business Unit

During the third quarter of 2022, Innovatec S.p.A. acquired from Integra S.r.l. 29.58% of Esi S.p.A. listed on Euronext Growth Milan ("ESI", ISIN: IT0005421885) a leading player in Italy in the construction and maintenance of large-scale photovoltaic plants. The consideration amounted to Euro 6.5 million for the purchase of a total of 2,066,745 ESI shares (at Euro 3.145 per share), paid for Euro 4.5 million on the date the agreement was signed and for the remaining Euro 2 million through Innovatec shares (at Euro 2 per share) issued at the beginning of September in favour of Integra through a reserved capital increase in kind. The transaction confirms and accelerates the pursuit of the objectives of Innovatec's business plan in relation to the photovoltaic business, seizing the opportunities offered by the acceleration imposed by the government in terms of incentives on the construction of renewable energy plants. Innovatec has in fact detected a strong interest in the photovoltaic sector and for this reason, on 4 August 2022, the board of directors of Innovatec S.p.A. approved the launch of a programme of strategic importance concerning a new division dedicated to Photovoltaic - B2B. The new division will use ESI's expertise to implement and ground future photovoltaic initiatives, ensuring quality, speed and certainty of execution for Innovatec's customers. The new division will also be dedicated to the development of large-scale ground-mounted plant authorisations with a dual purpose: i) post-construction valorisation - with the sale of the plants to third parties in turnkey logic, and ii) production of renewable energy to be distributed to businesses, households and energy communities through the investment in Frisbi S.r.l.. With reference to the latter, Innovatec S.p.A. signed an investment contract in Frisbi S.r.l., an innovative start-up for the supply of green energy and services to households and businesses, for the subscription of a reserved capital increase of €1 million. Frisbi which reached a turnover of approximately Euro 600,000 in 2021 (+130% vs. 2020) is based in Florence and resells energy from 100% renewable sources to the residential and business market. The agreement provides for the subscription of a reserved capital increase with premium, for a total amount of Euro 1 million, of which the 1st tranche of Euro 0.5 million (equal to 15% of the share capital of Frisbi post money) took place on 14 September 2022. The 2nd tranche of Euro 0.5 million (equal to a further 15% of the share capital of Frisbi post money) will take place within 6 months from 14 September 2022.

Upon completion of the reserved capital increase, Innovatec will hold 30% of Frisbi's post money share capital. Frisbi's other shareholders (Roberto Olivieri and Mattia Molfetta "Founding Shareholders") will hold - upon completion of the transaction - 37.33% and 32.67% of Frisbi's share capital, respectively.

Capital and Debt Transactions

In January 2022, in light of the strong interest shown by Qualified Investors in Innovatec's business model and equity story, the Company placed through the so-called accelerated bookbuilding procedure reserved for Qualified Investors, 2,368,000 ordinary shares equal to approximately 2.48% of Innovatec's share capital (post-increase), at a price of Euro 1.755 per share for a total countervalue of the increase of Euro 4.155,840. Furthermore, in December 2022, Innovatec issued a non-convertible bond for a countervalue of Euro 8 million, through participation in the second slot of the BasketBond Euronext Growth Programme (Banca Finnat, Cassa Depositi e Prestiti and Medio Credito Centrale subscribers). The bond, maturing in October 2028, is amortising, with payment of the first instalment, including the capital portion, in April 2024. The Bond will bear interest at a fixed annual nominal gross rate of 5.21%, to be paid in semi-annual instalments in arrears. The Company will use the resources deriving from the bond to finance development programmes through M&A and Capex transactions, with the aim of consolidating and strengthening its position in the environmental and circular economy sectors. On December 2021, the Group issued another Bond for a consideration of Euro 10 million backed by SACE's Italian Guarantee (subscribed by Zenit Sgr S.p.A., Finlombarda and funds managed by Banca Finnat), maturing on 30 September 2026, with an annual interest rate of 6% and amortising repayment with 18 months of pre-amortisation.

Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Significant events occurring after 31 December 2022

Group plant development

In January 2023, the subsidiary Green Up S.p.A. was authorised by the Province of Monza Brianza to build a plant for waste treatment and recovery activities in Lazzate (MB). The plant, which will provide significant environmental benefits by reducing the amount of waste destined for final disposal, will have an authorised capacity to treat 50 thousand tonnes of waste per year, will be fully automated, and will be equipped with the most advanced technologies available on the market for carrying out this activity. The authorised plant is immediately ready for construction, will cover an area of about 13,000 square metres, 3,000 of which will be covered, and will be built in the next twelve months with an expected investment of about Euro 3.5 million. In addition, the subsidiary Green Up S.p.A. has completed the construction of the first tank of the new lot of the Bossarino (SV) landfill, which will allow the group to increase its capacity for the disposal of non-hazardous industrial waste by about 600 thousand cubic metres.

Proposed Allocation of Net Profit

The Board of Directors has delegated the Chairman Ing Elio Cosimo Catania to convene the Shareholders' Meeting for (i) approval of the financial statements for the year ended 31 December 2022 and (ii) approval of the allocation of the net profit for the year Euro 5,184,916.53 as follows:

• Euro 259,245.83 to legal reserve;

• the remaining Euro 4,925,670.70 to Retained Earnings.

Deposit of the Financial Statements as at 31 December 2022

The draft financial statements as at 31 December 2022, with the Management Report, the Directors' Reports for the items on the agenda of the Shareholders' Meeting, the Board of Statutory Auditors' Report and the Independent Auditors' Reports, as well as the Consolidated Financial Statements as at 31 December 2022, will be made available at the Company's registered office and at Borsa Italiana S.p.A. and will also be on the Company's website www.innovatec.it within the terms of the law.

This press release is available on the website of Borsa Italiana and on the Company's website www.innovatec.it.

This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.

Annex: Consolidated and Innovatec S.p.A. stand alone financial schemes

For further information:

***

Innovatec S.p.A., an investment holding company listed on Euronext Growth Milan (BIT: INC, ISIN: IT0005412298) is active in the fields of energy efficiency and environmental sustainability. In a competitive environment where social

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

responsibility and environmental sustainability issues are becoming increasingly central, Innovatec aims to strengthen its resilience and become a leading player in sustainability through the responsible and efficient use of resources by linking energy and renewable energy efficiency with the materials cycle, recovery and recycling and waste. Innovatec operates at 360 degrees, offering innovative end-to-end solutions that respond in a customised and comprehensive manner to its customers' needs in the circularity and sustainability business. With a proposal that integrates energy efficiency, renewables and environmental services from industrial waste recovery to recycling, Innovatec provides concrete support to other companies in improving their circularity and reducing their carbon footprint by aiming for compatibility between development and land preservation.

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Gruppo Innovatec S.p.A.

Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

TOTALE ATTIVO (A+B+C+D) 254.043.229 182.978.042

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

TOTALE PASSIVO (A+B+C+D+E) 254.043.229 182.978.042

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Gruppo Innovatec S.p.A.

Valori in Euro

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Gruppo Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Gruppo Innovatec S.p.A.

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Movimentazione Patrimonio Netto Consolidato

Gruppo Innovatec S.p.A.

Innovatec S.p.A.

Investor Relations Media Relations

Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

C) ATTIVO CIRCOLANTE

TOTALE ATTIVO (A+B+C+D) 70.537.217 43.994.164

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

TOTALE PASSIVO (A+B+C+D+E) 70.537.217 43.994.164

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707

Innovatec S.p.A.

Movimentazione Patrimonio Netto

Innovatec S.p.A. Investor Relations Media Relations Raffaele Vanni Alberto Murer e-mail: investorrelator@innovatec.it ufficiostampa@innovatec.it Tel. +39 02/87211700 Tel. +39 334/6086216 Fax. + 39 02/87211707 Fax. +39 02/87211707