Tamburi Investment Partners (TIP) investor relations material

Investment strategy and portfolio overview

• Over €5 billion invested in 30 leading companies, including 9 global leaders, with a focus on high-quality assets and limited risk exposure.

• Portfolio spans listed and private companies across sectors such as IT, luxury, retail, food, tourism, and industrials.

• More than 240 M&A transactions completed, with an average investment holding period exceeding 10 years and no predetermined exit schemes.

• Four companies are positioned for potential IPOs, reflecting a strong pipeline for future listings.

• Net intrinsic value per share is estimated at €14.4, with significant value yet to be unlocked, especially in private assets.

Financial performance and returns

• Achieved a total return of +223.4% over the last 10 years, outperforming most major indices.

• Aggregate revenues of portfolio companies are projected at ~€23 billion for 2025, with EBITDA of ~€4 billion and around 90,000 employees.

• Cumulative pro forma net profit since 2012 is approximately €1 billion, with dividends per share rising from €0.04 in 2012 to €0.26 in 2025.

• Over €1.8 billion in investment-divestment activity from 2021 to 2026, including significant divestments and reinvestments.

• The stock remains undervalued relative to fundamentals, despite strong historical returns.

Key portfolio company highlights

• Alpitourworld: Italian tourism leader with a unique business model, strong recovery post-COVID, and a 43.1% stake held.

• Azimut Benetti: Global yachting leader, 8% stake, with a CAGR EBITDA of ~40% and a strong order backlog.

• Beta: Premium industrial tools provider, 49% stake, revenues doubled since investment, and six acquisitions completed.

• Chiorino: Mission-critical belting solutions, 20% stake, high aftermarket sales, and four acquisitions since 2020.

• Eataly: Global leader in Italian food retail, 18% stake, revenues tripled since investment, and aggressive store expansion.

• Limonta: Textile innovation for luxury brands, 13% stake, strong financial position, and recent strategic acquisitions.

• Vianova: B2B ICT services provider, 17% stake, consistent growth, and eight acquisitions since 2024.