Solid 2025 results. Debt reduction trajectory confirmed. Growth objectives for 2025-2028.

• Successful plan to strengthen the financial position and confirmed debt reduction trajectory:
  • Finalised €1 billion disposal plan at an average multiple of c.14X EBITDA
  • Normalised access to financing, with a €500 million bond issue
  • Reduction in net financial debt (excluding IFRS 16 and IAS 17) of €390 million compared to 31 December
    2024, resulting in a decrease in Wholeco leverage(1) to 5.1x
• Clariane receives inaugural corporate ratings from two agencies: B+ from S&P and B2 from Moody's
• Operating performance in line with objectives:
  • 2025 revenue stands at €5,310 million, up +4.5% on an organic basis
  • EBITDA, pre-IFRS 16, stands at €594 million, up +3.1% compared to 2024 pro forma of disposals, reflecting a significant improvement in the EBITDA margin in the second half of the year, at 12.5% compared to 9.9% in the first half of 2025
  • Pre-IFRS 16 operating free cash flow(2) stood at €267m, up +46%, driven by improved operating perfor-
    mance in the second half of the year and the normalisation of working capital and good control of capital
    expenditure
• Group results:
  • Post-IFRS 16 net profit amounted to €2 million, compared with a loss of €55 million in 2024
• Non-financial commitments exceeded:
  • NPS(3) at +45 and number of employees in qualifying paths (7,743) above targets
  • Continued decline in the frequency rate of workplace accidents (28 vs. 31 in 2024)
• 2023–2026 objectives confirmed
• 2025–2028 objectives:
  • Revenue (pro forma for disposals): average annual growth of c.+4% over the period
  • EBITDA (pre-IFRS 16, pro forma): average annual growth between +7% and +9% over the period
  • Opco EBITDA(4) (pro forma): average annual growth between +11% and +14% over the period
  • Wholeco leverage around 4.5x at the end of 2028*

The audited 2025 financial report, including the annual activity report and the condensed consolidated financial statements as at 31 December 2025, is available on the company's website at www.clariane.com. The consolidated financial statements were approved by the Board of Directors at its meeting on 26 February 2026. A report with unconditional certification is to be issued by the Statutory auditors. The condensed consolidated financial statements have been prepared in accordance with IFRS 16. For comparability purposes, the following financial information is presented without applying IFRS 16.

1) Wholeco leverage: leverage used in connection with the amendment and extension of the syndicated loan announced on 17 February 2025. Wholeco leverage is calculated using the following formula: Net debt pre-IFRS 16 and IAS 17 after
deduction of Ages & Vie receivables i.e €2,987m /consolidated EBITDA restated for the impact of IFRS 16 and IAS 17 and adjusted for certain non-cash items and the full-year effect of ongoing action plans, i.e. €582m.
(2) Operating free cash flow is calculated as follows: EBITDA +/– change in working capital +/- non-current items – maintenance investments – interest and taxes paid.
(3) The Net Promoter Score (NPS) is calculated on the basis of satisfaction surveys and corresponds to the percentage of promoters (scores of 9 and 10/10) minus the percentage of detractors (scores of 0 to 6/10).
(4) Opco EBITDA is defined as follows: EBITDA (1) after capitalised leases in accordance with IFRS 16 (including leases already capitalised prior to the application of IFRS 16, under IAS 17) and (2) restated for the impact of the Group's real-estate
holdings. These impacts mainly consist of market rents associated with real-estate assets held, as defined in the Cushman & Wakefield report on the valuation of the Group's real-estate portfolio, as well as operating costs associated with
real-estate holdings (calculated on the basis of the Group's property operating costs).
* With a comparable balance sheet structure