Euroapi (EAPI) investor relations material

Opening remarks and agenda

• Meeting opened with gratitude to shareholders, acknowledgment of challenging market conditions, and a focus on transparency and engagement.

• Agenda included 22 ordinary and 3 extraordinary resolutions, covering financial statements, director renewals, compensation, and strategic plans.

• Roadshows and governance updates were presented, with Emmanuel Blin as Chair of the Board and Elizabeth Bastoni as Chair of the Remuneration & Nominations Committee.

• Statutory auditors from Ernst & Young and BDO Paris present to review reports.

Financial performance review

• 2025 revenues were EUR 848 million, down 7% from 2024.

• Core EBITDA (excluding one-offs) was EUR 66.2 million (7.8% margin); reported EBITDA EUR 9.9 million after EUR 56.3 million in non-recurring items.

• Net loss increased to EUR 211 million from EUR 130 million in 2024, mainly due to impairments and restructuring.

• Capital expenditures totaled EUR 77 million (9% of revenues), with 55% for growth and performance projects.

• Board reviewed consolidated financial statements and results for H1 2025 and FY 2025, and evaluated the 2026 budget and group risks.

Board and executive committee updates

• Appointment of a new CEO in late 2024 and near-total renewal of the Executive Committee to drive transformation.

• Appointment of Tristan Imbert as Independent Director.

• Board at end of 2025: 63% independents, 40% women, 4 nationalities, 2 employee representatives.

• Board composition now more focused, with increased independence and international representation.

• Nine board meetings held in 2025 with almost 100% participation; committees restructured for greater effectiveness.