Ariston Holding (ARIS) M&A Announcement Presentation summary

Deal rationale and strategic fit

• Acquisition adds two well-known brands, Riello and Beretta, to the portfolio, strengthening market leadership in Italy and expanding global combustion technology expertise.

• Enhances presence in commercial and industrial segments and increases exposure in North America.

• Complements sales channels and service coverage, leveraging direct and indirect distribution approaches.

Financial terms and conditions

• Enterprise value of €289 million (approx. $340 million at the exchange rate on December 15, 2025).

• 100% of Riello Group to be transferred in exchange for cash, financed with own funds.

• Post-acquisition leverage expected below 2.5x NFP/EBITDA.

Synergies and expected cost savings

• Expected run-rate EBITDA impact of ~€25 million per year by year 4 post-closing.

• Sourcing and logistics synergies from increased scale and common categories.

• High-teens EPS accretion by 2026, with EPS accretive by year 2 post-closing.