Fiera Milano : Half-year Financial Report at 30 June 2023

Half-year Financial Report

at 30 June 2023

(First half of FY2023)

This document is available in the Investors section of the Company website,

www.fieramilano.it

This document contains a faithful translation in English of the original report in Italian "Relazione finanziaria semestrale al 30 giugno 2023 ".

However, for information about Fiera Milano Group reference should be made exclusively to the original report in Italian. The Italian version of the Relazione finanziaria semestrale al 30 giugno 2023 shall prevail upon the English version.

Fiera Milano SpA

Registered office: Piazzale Carlo Magno, 1 - 20149 Milan

Operational and administrative office: SS del Sempione, 28 - 20017 Rho (Milan)

Share Capital: Euro 42,445,141.00 fully paid up.

Companies Register, Tax Reference and VAT no. 13194800150

Economic Administrative Register 1623812

Rho (Milan), 26 July 2023

Contents

	Page
CORPORATE BODIES AND INDEPENDENT AUDITOR	3
BUSINESS MODEL	4
GROUP STRUCTURE	5
HIGHLIGHTS OF THE FIRST SEMESTER 2023	6

FIERA MILANO GROUP HALF-YEARFINANCIAL REPORT

• Interim report on operations

•	Summary of results and significant events in the first half of the year	7
•	Business performance by operating segment and by geographic area	17
•	Information on related-party transactions	22
•	Group personnel	22
•	Risk factors affecting the Group	22
•	Key data of the companies of the Group	32
•	Significant events after the end of the reporting period	34
•	Business outlook	34

• Interim Condensed Consolidated Financial Statements at 30 June 2023

•	Consolidated Statement of Financial Position	36
•	Consolidated Statement of Comprehensive Income	37
•	Consolidated Cash Flows	38
•	Consolidated Statement of Changes in Equity	39
•	Illustrative notes:
	− Accounting standards and consolidation criteria	40
	− Disclosure on subsidiaries, joint ventures and associates	45
	− Segment information	49
	− Notes to the Interim Condensed Consolidated Financial Statements	52
	− Attachment 1 - List of companies included in the consolidation area and other investments	83
	at 30 June 2023

Declaration relating to the Interim Condensed Consolidated Financial Statements in
accordance with Article 154-bis paragraph 5 of Legislative Decree 58/98	84
Independent Auditor's Report	85

2

Corporate Bodies and Independent Auditor

_______________________________________________________________________________

BOARD OF DIRECTORS

Carlo Bonomi	Chairman°
Francesco Conci	Chief Executive Officer
Michaela Castelli	Director*
Regina De Albertis	Director*
Paola Annamaria Petrone	Director*
Monica Poggio	Director*
Ferruccio Resta	Director*
Agostino Santoni	Director*
Elena Vasco	Director*

• Independent director pursuant to art. 148, paragraph 3 of Legislative Decree 58 of 24 February 1998.

• Independent Director under Art. 148, paragraph 3 of Italian Legislative Decree 58 of 24 February 1998 and the Corporate Governance

Code of Borsa Italiana

CONTROL AND RISK COMMITTEE	APPOINTMENTS AND	SUSTAINABILITY
	REMUNERATION COMMITTEE	COMMITTEE
Michaela Castelli	Agostino Santoni	Ferruccio Resta
Paola Annamaria Petrone	Regina De Albertis	Michaela Castelli
Ferruccio Resta	Monica Poggio	Elena Vasco

BOARD OF STATUTORY AUDITORS	FINANCIAL REPORTING OFFICER
Monica Mannino	Presidente	Massimo De Tullio
Piero Antonio Capitini	Sindaco effettivo
Daniele Federico Monarca	Sindaco effettivo
Livia Amidani Aliberti	Sindaco supplente
Simone Bruno	Sindaco supplente

SUPERVISORY BOARD, LEGISLATIVE DECREE 231/01

Enrico Maria Giarda

Luigi Bricocoli

Basilio Postiglione

---

The Board of Directors was appointed by the Shareholders' Meeting of 27 April 2023. The Directors' mandates will expire at the Shareholders' Meeting to approve the Financial Statements at 31 December 2025.

The Board of Directors is invested with the broadest powers for the ordinary and extraordinary management of the Company; it has the power to carry out all acts it deems appropriate or useful to attain the corporate objectives, except for those which, pursuant to law, are reserved for the Shareholders' Meeting.

Under the law and the Company Articles of Association, the Chairman is the company's legal representative. He is also vested with all powers over Fiera Milano's institutional external relations.

The Shareholders' Meeting appointed the Board of Statutory Auditors on 28 April 2021, and its mandate expires at the Shareholders' Meeting to approve the Financial Statements on 31 December 2023.

INDIPENDENT AUDITORS

PWC SpA

The mandate, given by the Shareholders' Meeting of 27 April 2023, is for the financial years 2023-2031.

3

Business model

_______________________________________________________________________________

The Fiera Milano Group is active in all the key areas of the exhibition and congress industry and is one of the largest integrated exhibition companies worldwide.

Under the current management approach, the operating segments have been re-defined as follows:

• Italian Exhibitions Business: organisation and hosting of exhibitions and other events in
  Italy: through the use, promotion and offer of furnished exhibition spaces; through the provision of stand-fitting, technical and site services associated with exhibition and congress business; and through the provision of project support and ancillary services; the production of content and provision of advertising and digital services, as well as the organisation of conferences and training courses. Specifically, this segment includes all activities associated with exhibitions (including end services for exhibitors and visitors) that are:
• • directly organised by the Group or in partnership with third-parties;
  • organised by third parties, through the hiring out of spaces and services.
• Foreign Exhibitions Business: this segment covers all activities for the organisation of exhibitions and other events abroad through the use, promotion and offer of furnished exhibition spaces, project support, and ancillary services. It covers all activities associated with exhibitions (including end services for exhibitors and visitors) that are directly organised by the Group or in partnership with third-parties or acting as agents.
• Congresses: this segment covers the organisation of congresses and events and destination management services.

4

Group structure

5