FY'22 RESULTS - INVESTORS PRESENTATION

(16 MARCH 2023)

Equita, the leading independent Investment Bank in Italy

SNAPSHOT ON CONSOLIDATED FINANCIAL RESULTS

Equita closed the 2022 fiscal year with the highest result since IPO in terms of Net Revenues related to business with clients (€83m). Net Profits reached €16m and dividend proposal was set to €0.35 per share

Key Relevant KPIs

+9%

€83.0m

+5%

188

Professionals

(Var '21-'22)

(Var '21-'22)

at year-end

+7%

Client-related

(CAGR '20-'22)

+11%

Net Revenues

(CAGR '20-'22)

29%

Return on

€86.9m

(Var '21-'22)

Tangible Equity (1)

(4%)

Consolidated

+13%

≈5x

Net Revenues

(CAGR '20-'22)

€16.2m

(Var '21-'22)

(25%)

€0.35

Net Profits (3)

(CAGR '20-'22)

Consolidated

+15%

IFR

Ratio (2)

Unchanged

Dividend

(Var '21-'22)

per share

+75%

(Var '20-'22)

(1) ROTE = Last 12-months Net Profits / Average Tangible Equity. Average Tangible Equity calculated as average of beginning of the year and current period Tangible Equity (excluding Net Profits of the

IR EQUITA - FY'22 RESULTS | 2

period). (3) IFR Ratio as of 31 December 2022 is higher than minimum regulatory requirement by 5 times. (3) Excluding the impacts of the cash-settlement of the incentive plan Equita Group 2020-2022

Equita, the leading independent Investment Bank in Italy

RESILIENT PERFORMANCE COMPARED TO INTERNATIONAL PEERS

Diversification has allowed the Group to record a more resilient performance compared to international peers, also thanks to some profitable investment banking mandates and despite tough capital markets

Country

Market

Revenues

Var %

Net Profits

Var %

Net Profits %

Cap (€m)

2022 (LCY, m)

2022 (LCY, m)

2022

Equita

178

87

(4%)

16

(25%)

19%

Mediobanca

8.009

3.049

9%

936

1%

31%

European

ABG Sundal Collier

249

1.704

(41%)

270

(64%)

16%

and UK

Numis Corp

302

144

(33%)

14

(76%)

10%

peers

Alantra

446

234

(26%)

40

(29%)

17%

239

96

(17%)

25

(45%)

26%

Evli Pankki

Mean

1.849

(22%)

(43%)

20%

Median

249

(26%)

(45%)

17%

99.993

47.365

5%

11.219

(47%)

24%

Goldman Sachs

124.251

53.668

8%

11.355

(24%)

21%

Morgan Stanley

3.831

1.835

(20%)

295

(33%)

16%

Houlihan Lokey

Global / US

Lazard

2.210

2.850

(10%)

359

(38%)

13%

peers

3.432

2.761

(16%)

481

(43%)

17%

Evercore

2.076

985

(37%)

150

(63%)

15%

Moelis & Co

683

632

(21%)

81

(50%)

13%

Perella Weinberg

5.976

5.966

(35%)

777

(53%)

13%

Jefferies

Mean

29.432

(16%)

(44%)

17%

Median

3.631

(18%)

(45%)

16%

(1) Market Cap as of March 10th, 2023. LCY = Local Currency.

IR EQUITA - FY'22 RESULTS | 3

Equita, the leading independent Investment Bank in Italy

KEY INITIATIVES COMPLETED IN 2022: A VERY BUSY YEAR

2022 was a very busy year in terms of initiatives, both from a strategic and financial standpoint, as well as from a sustainability point of view

Strengthening of the business

  • Leadership confirmed as best independent broker in Italy, with top ranks reached in
    Institutional Investor's survey in Mid & Small Caps research and Trading & Execution
    (#2 in Sales & Trading and Corporate Access)
  • Partnership with ADACTA, network of more than 130 professionals in the North-East of Italy, to develop new investment banking business and contacts
  • Senior hirings completed to strengthen some verticals (consumer, industrial, FIG, structured finance)
  • Fundraising of Equita Private Debt Fund II completed successfully, with total commitments above target (€237m vs €200m target) and capital deployed to c. 70% with 8 investments completed to date
  • First two investments of Equita Smart Capital ELTIF, the private equity fund managed by and expected to raise new commitments in 2023

Optimisation of shareholders' base

  • Sale of a minority stake of Equita (c. 12%) to families, entrepreneurs and institutions, to well-balance the
    "ecosystem" of shareholders, preserve independence, foster business opportunities and favor market visibility

Further alignment of interests

  • Announcement of a new three-yearbusiness plan to 2024, with financial and sustainability linked-targets
  • New incentive plan addressed to top management, linked to value creation for shareholders (Total Shareholders Return and individual targets linked to the business plan)
  • New shareholders' pact among managers, representing 32% of the share capital (44% of votes)(1) and including lock-up commitments

Integration of sustainability

  • Launch of a new sustainable finance team to address clients' needs and advise investors, corporates, entrepreneurs and institutions in the delicate transition to sustainability
  • Assessment of Group's carbon footprint and achievement of carbon-neutrality in 2022, before 2024 target
  • Establishment of Fondazione Equita, a no-profit organization with focus on young students, financial education, art and culture, local communities and environment.

(1) As of March 16th, 2023.

IR EQUITA - FY'22 RESULTS | 4

Equita, the leading independent Investment Bank in Italy

GROWTH IN BUSINESS WITH CLIENTS, IN ALL AREAS

Division

Net Revenues (€m, change % and breakdown %)

2022 vs 2021

Directional Trading

Client-Driven & MM

+2% Business with clients

Sales & Trading

40,7

(ex.Directional Trading)

33,7

37,7

(8%)

Global

FY'22

43%

(Var '21-'22)

Markets

22,9

21,7

& Research

21,8

+6%

11,5

13,5

(CAGR '20-'22)

11,6

6,4

2,5

0,4

2020

2021

2022

Dir. Trading in FY'21

above historical average

38,7

41,3

+7%

28,0

Investment

(Var '21-'22)

FY'22

Banking

+21%

48%

(CAGR '20-'22)

2020

2021

2022

+21% excluding

Performance fees

Management fees & Portfolio

Performance fees

(28%)

9%

Alternative

11,0

FY'22

7,8

(Var '21-'22)

Asset

6,5

4,5

+10%

Management

1,8

6,5

7,8

(CAGR '20-'22)

4,7

2020

2021

2022

  • Business with clients slightly increased
    (+2% vs FY'21, €35.2m vs €34.4m), recording the best FY result since IPO, despite the low levels of activities of clients globally in financial markets
  • Directional trading profitable (€2.5m in FY'22, -60%).The decrease in revenues is affected by the comparison with the above- average result recorded in 2021 (€6.4m)
  • Revenues up 7% to €41.3m, thanks to the solid performance of M&A Advisory - with Equita K Finance contributing materially to growth - more than offsetting the lack of capital markets' transactions in 2022
  • Teams involved in high-profile mandates despite the challenging political and macroeconomic environment
  • Revenues (ex. Perf. fees) up 21% in 2022, thanks to the increase in management fees (€6.5m in 2022 vs €6.0m in 2021) from new illiquid products and the positive contribution of the Investment Portfolio
    (€1.3m in 2022 vs €0.5m in 2021)
  • Total Revenues (-28%) affected by the comparison with 2021 which included €4.5m perf. fees
  • AuM to €0.9bn (-17% vs FY21), with an increasing mix toward illiquid assets with higher margins and proprietary teams and products

(1) Sales & Trading and Client-Driven Trading & Market Making, excluding Directional Trading)

IR EQUITA - FY'22 RESULTS | 5

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Equita Group S.p.A. published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2023 13:32:06 UTC.