London, July 30, 2026

 "Shell's operational performance enabled very strong results during another quarter of severe disruption in global energy markets, as we worked hard to provide critical energy supplies and products to our customers.

Consistent with our strategy, we remain disciplined in our capital allocation, divesting non-core assets and investing in higher-quality growth opportunities, including the announced ARC acquisition.

Today, we commence another $3 billion of share buybacks1, in line with our 40-50% of CFFO through the cycle distribution policy."

Shell plc Chief Executive Officer, Wael Sawan

OPERATIONAL PERFORMANCE DRIVES VERY STRONG RESULTS

• Q2 2026 Adjusted Earnings2 of $9.8 billion, reflects strong operational performance across the businesses despite Middle East outages, with record upstream production in Brazil and record refinery utilisation.
• Strong CFFO of $21.4 billion, supported by higher realised prices and a working capital inflow of $3.4 billion.
• Distributed 44% of CFFO over the past 12 months. 19th quarter in a row of announcing at least $3 billion buybacks.
• Structural cost reductions of $5.8 billion achieved since 2022; delivered ~$700 million in first half of 2026.
• Strong balance sheet with gearing of 19%, reflecting net debt of $42 billion or $12 billion excluding leases. Capex outlook for 2026 unchanged: $24 - 26 billion.
• Portfolio high-grading with the sale of Jiffy Lube (USA) and the announced divestments of SPRNG Energy (India), the Marketing business in South Africa and the Gulf of America Na Kika end-of-life assets.
• ARC Resources acquisition obtained shareholder approval, completion expected in Q3 2026 increasing production growth to 4% CAGR to 2030 (from 2025).
  

1The Q2 2026 share buyback programme comprises $3.0 billion of new share buybacks, plus $1.2 billion of share buybacks that were not undertaken during the previous programme due to the announced suspension of such programme in connection with Shell's agreement to acquire ARC Resources.

2 Income/(loss) attributable to shareholders for Q2 2026 is $10.8 billion. Reconciliation of non-GAAP measures can be found in the quarterly unaudited results, available on www.shell.com/investors.

3 Chemicals & Products Adjusted Earnings at a subsegment level are as follows: Chemicals $0.4 billion and Products $2.5 billion.

*    CFFO of $21.4 billion in Q2 2026, with a $3.4 billion working capital inflow.

1 Reconciliation of non-GAAP measures can be found in the quarterly unaudited results, available on www.shell.com/investors.

Q2 2026 FINANCIAL PERFORMANCE DRIVERS

INTEGRATED GAS

• Adjusted Earnings were higher than Q1 2026, reflecting significantly higher Trading & Optimisation results and higher realised prices, partially offset by lower volumes.
• Q3 2026 production and LNG liquefaction outlook excludes volumes from ARC Resources and Qatar.

UPSTREAM

• Adjusted Earnings were higher than in Q1 2026, reflecting higher realised prices.
• Q3 2026 production outlook reflects higher maintenance across the portfolio.

MARKETING

• Adjusted Earnings were in line with Q1 2026, as lower volumes and weaker lubricant margins were offset by comparatively favourable tax movements.
  

CHEMICALS & PRODUCTS

• Higher chemicals margins1 resulted in Chemicals best Adjusted Earnings since Q3 2021.

• Products margins reflect higher indicative refining margins1 and a higher trading and optimisation contribution than in Q1 2026.

1 Key data table reflects calculated IRM/ICM. Given market dislocations, realised margins in Q2 2026 were below calculated IRM/ICM and were adjusted accordingly in the Q2 2026 Quarterly Update Note.

RENEWABLES & ENERGY SOLUTIONS

*Excludes Shell's equity share of associates where information cannot be obtained.

• Adjusted Earnings were lower than in Q1 2026, with lower trading and optimisation.

CORPORATE

UPCOMING INVESTOR EVENTS

October 29, 2026 Third quarter 2026 results and dividends

USEFUL LINKS

Results materials Q2 2026

Webcast registration Q2 2026

Dividend announcement Q2 2026

Capital Markets Day 2025 materials

Financial Modelling Guidance

LNG Portfolio - Strategic Spotlight 2026

Impact of Middle East conflict

ARC acquisition materials

ALTERNATIVE PERFORMANCE (NON-GAAP) MEASURES

This announcement includes certain measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP) such as IFRS, including Adjusted Earnings, Adjusted EBITDA, CFFO excluding working capital movements, Cash capital expenditure, free cash flow, Divestment proceeds and Net debt. This information, along with comparable GAAP measures, is useful to investors because it provides a basis for measuring Shell plc's operating performance and ability to retire debt and invest in new business opportunities. Shell plc's management uses these financial measures, along with the most directly comparable GAAP financial measures, in evaluating the business performance.

This announcement may contain certain forward-looking non-GAAP measures such as free cash flow and underlying operating expenses. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile the non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of the company, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are estimated in a manner which is consistent with the accounting policies applied in Shell plc's consolidated financial statements.

CAUTIONARY STATEMENT

The companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this announcement "Shell", "Shell Group" and "Group" are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words "we", "us" and "our" are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ''Subsidiaries'', "Shell subsidiaries" and "Shell companies" as used in this announcement refer to entities over which Shell plc either directly or indirectly has control. The terms "joint venture", "joint operations", "joint arrangements", and "associates" may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties.  The term "Shell interest" is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.

This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management's expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as "aim"; "ambition"; ''anticipate''; "aspire"; "aspiration"; ''believe''; "commit"; "commitment"; ''could''; "desire"; ''estimate''; ''expect''; ''goals''; ''intend''; ''may''; "milestones"; ''objectives''; ''outlook''; ''plan''; ''probably''; ''project''; ''risks''; "schedule"; ''seek''; ''should''; ''target''; "vision"; ''will''; "would" and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell's products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc's Form 20-F for the year ended December 31, 2025 (available at www.shell.com/investors/news-and-filings/sec-filings.html and www.sec.gov). These risk factors also expressly qualify all forward-looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, July 30, 2026. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.

All amounts shown throughout this announcement are unaudited. The numbers presented throughout this announcement may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures, due to rounding.

The content of websites referred to in this announcement does not form part of this announcement.

We may have used certain terms, such as resources, in this announcement that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.

The financial information presented in this announcement does not constitute statutory accounts within the meaning of section 434(3) of the Companies Act 2006 ("the Act"). Statutory accounts for the year ended December 31, 2025 were published in Shell's Annual Report and Accounts, a copy of which was delivered to the Registrar of Companies for England and Wales, and in Shell's Form 20-F. The auditor's report on those accounts was unqualified, did not include a reference to any matters to which the auditor drew attention by way of emphasis without qualifying the report and did not contain a statement under sections 498(2) or 498(3) of the Act.

The information in this announcement does not constitute the unaudited condensed consolidated financial statements which are contained in Shell's second quarter 2026 unaudited results available on www.shell.com/investors.

CONTACTS

• Media: International +44 207 934 5550; USA +1 832 337 4355

Copyright 2026 GlobeNewswire, Inc.

Iveco Group 2026 Second Quarter Results

Iveco Group 2026 Second Quarter Results(*)

The Board of Directors approves Q2 and H1 2026 preliminary results

Strong growth in revenues led by higher volumes in Europe; Q2 profitability reflects planned investments in quality

Tata Motors' Tender Offer expected to be launched in early September 2026
with closure envisaged by early November 2026

In the second quarter, Iveco Group recorded a strong increase in consolidated revenues of EUR3,764 million (+7.3%) and also in industrial revenues of ?3,696 million (+7.9%), in particular thanks to higher European volumes. Industrial Activities generated an Adjusted EBIT of ?104 million. Free Cash Flow represented an outflow of ?45 million, while Available Liquidity remained solid at ?4.4 billion as of 30th June 2026, following payment of the ~?1,550 million extraordinary interim dividend on 22nd April 2026 from the proceeds of the Defence business disposal.

Truck reaffirmed its leadership position in the upper-end and chassis-cab segments of the light commercial vehicle market, while maintaining disciplined pricing in European heavy-duty vehicles. Compared with the second quarter of 2025, European industry volumes were broadly stable in light-duty and increased by 9% in medium- and heavy-duty. Order intake remained strong, increasing 21% in light-duty and 47% in medium- and heavy-duty. The European heavy-duty book-to-bill ratio improved by 33 basis points year-over-year, while light commercial vehicles remained steady. Profitability was affected by the additional resources dedicated to quality, partially offset by higher volumes and positive pricing.

IVECO BUS retained its number one position in the European electric bus market and consolidated its number two ranking overall, with a market share of more than 25%. Bus deliveries increased by 8%, supported by the Annonay plant operating at full capacity. Profitability was affected by rework costs associated with the last batch of unfinished city buses carried over from 2025, now fully deployed, partially offset by higher volumes and positive pricing. This rework is now complete, removing the related cost impact from the second half of the year.

In Powertrain, overall engine volumes increased by 9% compared with the second quarter of 2025, driven by increased small-engine deliveries in Europe across on-road and off-road applications. Profitability was affected by an unfavourable product mix, primarily reflecting fewer large-engine deliveries in the Americas, and the previously mentioned investments in quality. These impacts were partially offset by disciplined cost control and continued operational efficiency.

Consistent with the Company's ambition to become a premium partner, Model Year 26 truck range was launched in the first week of July at IVECO Experience 2026, with the participation of 2,000 customers, dealers, suppliers, partners, media representatives and employees. IVECO restated its commitment to supporting customers throughout the entire vehicle lifecycle, through best-in-class, end-to-end quality, innovation and close customer relationships. It also showcased the next stage of the journey that began two years ago, guided by the 'Spirito in Movimento' ambition and its three pillars: Motion by Design, Motion through Experience and Motion as Family.

Looking ahead, the Company expects a gradual recovery in profitability during H2 2026, reflecting the weaker industry demand for LCV towards the end of the year, particularly in the upper end, and increased macroeconomic uncertainties that will negatively impact the full year performance of our industrial activities. These are expected to be partially offset by the actions implemented in H1 2026 and the acceleration of our Efficiency Programme. H2 2026 is also expected to deliver solid Free Cash Flow generation.

With regard to the Tata Motors' Tender Offer for the proposed acquisition of the Iveco Group, the regulatory process is reaching its final stage, with only one pending approval to be received by Tata Motors. Based on the information received from Tata Motors, following its interactions with the competent Authority, all requests have been addressed and final clearance is expected to be received by end of August 2026. Accordingly, the Tender Offer is expected to be launched in early September 2026 with an expected closure by early November 2026.

"Our positive top line performance during this quarter is a strong indicator of the continuing resilience of our industrial businesses. Our deliberate focus on investments in quality ? in line with the priorities we set out for the year ? has had its impact on short-term profitability but is expected to deliver lasting benefits going forward across the full range of our products and services. These deliberate and positive actions to improve the core efficiency of our business will ensure that Iveco Group enters the next phase of its development as a strong and confident contributor to our transformational deal with Tata Motors that continues to make good progress in securing all the necessary approvals."

Olof Persson, Chief Executive Officer

Notes:
Iveco Group consolidated financial results included in this press release are prepared in accordance with EU-IFRS.
(*)      2026 and 2025 financial data shown in this press release refer to Continuing Operations only (ie. excluding Defence business), unless otherwise stated. In particular, on 18th March 2026, Iveco Group transferred the full ownership of its Defence business (IDV and ASTRA brands) to Leonardo S.p.A., as per the terms of the agreement announced on 30th July 2025. In accordance with IFRS 5 ? Non-current Assets Held for Sale and Discontinued Operations, as the sale became highly probable in July 2025, the Defence business met the criteria to be classified as a disposal group held for sale since that date; it also met the criteria to be classified as Discontinued Operations. In accordance with applicable accounting standards, the figures in the Income Statement and Statement of Cash Flows for Q2 and H1 2025 have been recast consistently.
(1)  Non-EU-IFRS financial measures: refer to the "Non-EU-IFRS Financial Information" section of this press release for information regarding non-EU-IFRS financial measures. Refer to the specific table in the "Other Supplemental Financial Information" section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure.
(2)  Comparison vs 31st March 2026.

Q2 2026 Performance of Continuing Operations and Results by Business Unit

Consolidated revenues amounted to EUR3,764 million compared to ?3,507 million in Q2 2025, up 7.3%. Net revenues of Industrial Activities were EUR3,696 million compared to EUR3,426 million in Q2 2025, up 7.9%, mainly due to higher volumes in Europe.

Adjusted EBIT was EUR131 million compared to EUR171 million in Q2 2025, with a margin of 3.5% (4.9% in Q2 2025). Adjusted EBIT of Industrial Activities was EUR104 million (EUR143 million in Q2 2025), mainly resulting from unfavourable production costs due to a strengthened focus on quality across businesses and rework costs in Bus, partially offset by higher volumes. Adjusted EBIT margin of Industrial Activities was 2.8% (4.2% in Q2 2025).

Adjusted Net Income was ?46 million (EUR79 million in Q2 2025) and adjusted Diluted Earnings per share was EUR0.17 (EUR0.29 in Q2 2025).

Net financial expenses amounted to ?70 million, in line with Q2 2025.

Reported income tax expense was ?13 million, with an adjusted Effective Tax Rate (adjusted ETR(1)) of 25% in Q2 2026, which reflects the different tax rates applied in the jurisdictions where the Group operates and some other discrete items.

Free Cash Flow of Industrial Activities was negative at ?45 million compared to positive EUR119 million in Q2 2025, mainly due to working capital absorption and increased investments driven by an enhanced focus on quality.

Available Liquidity was ?4,432 million as of 30th June 2026, after the extraordinary interim dividend distribution of ~EUR1,550 million, which occurred on 22nd April 2026, on the net proceeds from the sale of Defence business. Available Liquidity also included EUR1,900 million of undrawn committed facilities.

Truck

Notes:

(1)  Non-EU-IFRS financial measures: refer to the "Non-EU-IFRS Financial Information" section of this press release for information regarding non-EU-IFRS financial measures. Refer to the specific table in the "Other Supplemental Financial Information" section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure.

Bus

Powertrain

Financial Services

Iveco Group 2026 First Half Results

Truck

Bus

Powertrain

Financial Services

Notes:
(1)  Non-EU-IFRS financial measures: refer to the "Non-EU-IFRS Financial Information" section of this press release for information regarding non-EU-IFRS financial measures. Refer to the specific table in the "Other Supplemental Financial Information" section of this press release for the reconciliation between the non-EU-IFRS financial measure and the most comparable EU-IFRS financial measure.
(2)  Comparison vs 31st December 2025.

About Iveco Group

Iveco Group N.V. (EXM: IVG) is a global player in the automotive industry, built on a strong Italian heritage and with a consolidated international reach. The Group channels decades of engineering excellence and innovation into sustainable mobility and customer driven technologies. Its five brands play a leading role in their respective domains: IVECO, a pioneering commercial vehicles brand offering heavy, medium and light duty trucks; FPT, a global leader in advanced powertrain technologies in the agriculture, construction, marine, power generation and commercial vehicles sectors; IVECO BUS and HEULIEZ, renowned for their mass transit, premium bus and coach solutions; and IVECO CAPITAL, the Group's financing arm supporting them all. Iveco Group employs 33,000 people and operates 16 industrial sites and 22 R&D centres. Further information is available on the Company's website www.ivecogroup.com.

Slides Presentation

The slides presentation of the preliminary quarterly results is being made available on the Company's website www.ivecogroup.com.

Contacts

Iveco Group N.V.
Condensed Consolidated Income Statement for the three and six months ended 30th June 2026 and 2025
(Unaudited)

Notes:

(1)  In the three months ended 30th June 2026, this item includes ?1 million post-closing adjustment loss on the Fire-Fighting transfer. In the six months ended 30th June 2026, this item also includes the first quarter post-tax profit of Defence business of ?32 million and the net gain on the sale of Defence business, recorded in the first quarter, of ?1,254 million, net of ?12 million costs, after-tax, incurred by Iveco Group for the separation of that business (?14 million before-tax). In the three and six months ended 30th June 2025, this item included the post-tax profit for the period of Defence business of ?27 million and ?51 million, respectively.

Iveco Group N.V.
Condensed Consolidated Statement of Financial Position as of 30th June 2026 and 31st December 2025
(Unaudited)

Notes:

(1)  At 31st December 2025, Assets held for sale ? Discontinued Operations and Liabilities held for sale ? Discontinued Operations included the assets and the liabilities, respectively, of the Defence business classified as a disposal group held for sale and as Discontinued Operations.


Iveco Group N.V.
Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2026 and 2025
(Unaudited)

Notes:

(a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, which includes capital expenditure, depreciation and impairment losses, and related operating activities changes.
(b)         Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory.
(1) In the six months ended 30th June 2026, this item primarily includes the proceeds of ?1,615 million from the sale of Defence business.
(2) In the six months ended 30th June 2026, this item includes the extraordinary interim dividend distribution of ~?1,550 million on the net proceeds from the sale of Defence business.

Iveco Group N.V.
Supplemental Condensed Consolidated Income Statement for the three months ended 30th June 2026 and 2025
(Unaudited)

Notes:

(1)  Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V. In the three months ended 30th June 2025 Industrial Activities also included the Defence business, classified as Discontinued Operations.
(2)  Elimination of Financial Services' interest income earned from Industrial Activities.
(3)  Elimination of Industrial Activities' interest expense to Financial Services.

Iveco Group N.V.
Supplemental Condensed Consolidated Income Statement for the six months ended 30th June 2026 and 2025
(Unaudited)

Notes:

(1)  Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V. In the six months ended 30th June 2026 and 2025, Industrial Activities also includes Defence business, classified as Discontinued Operations.
(2)  Elimination of Financial Services' interest income earned from Industrial Activities.
(3)  Elimination of Industrial Activities' interest expense to Financial Services.

Iveco Group N.V.
Supplemental Condensed Consolidated Statement of Financial Position as of 30th June 2026 and 31st December 2025
(Unaudited)

Notes:

(1)  Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V.
(2)  At 31st December 2025, Assets held for sale ? Discontinued Operations and Liabilities held for sale ? Discontinued Operations included the assets and the liabilities, respectively, of the Defence business classified as a disposal group held for sale and as Discontinued Operations.
(3)  This item includes the elimination of intercompany activity between Industrial Activities and Financial Services.
(4)  This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.
(5)  This item includes the elimination of tax receivables/payables between Industrial Activities and Financial Services and reclassifications needed for appropriate consolidated presentation.
(6)  This item includes the elimination of derivative assets/liabilities between Industrial Activities and Financial Services.
(7)  This item includes the reclassification of deferred tax assets/liabilities in the same jurisdiction and reclassifications needed for appropriate consolidated presentation.
(8)  This item includes the elimination of intercompany transactions between Continuing and Discontinued Operations.

Iveco Group N.V.
Supplemental Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2026
(Unaudited)

Notes:

(a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, which includes capital expenditure, depreciation and impairment losses and related operating activities changes.
(b) Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory.

(1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V., and the Defence business unit (classified as Discontinued Operations).
(2) This item includes the elimination of dividends from Financial Services to Industrial Activities.
(3) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.


Iveco Group N.V.
Supplemental Condensed Consolidated Statement of Cash Flows for the six months ended 30th June 2025
(Unaudited)

Notes:

(a) Cash generated from the sale of vehicles under buy-back commitments, net of amounts included in Profit/(loss), is recognised under operating activities in a single line item, which includes capital expenditure, depreciation and impairment losses and related operating activities changes.
(b) Cash from operating lease is recognised under operating activities in a single line item, which includes capital expenditure, depreciation, write-downs and changes in inventory.

(1) Industrial Activities represents the enterprise without Financial Services. Industrial Activities includes Truck, Bus and Powertrain business units, as well as the holding company Iveco Group N.V., and the Defence business unit (classified as Discontinued Operations).
(2) This item includes the elimination of dividends from Financial Services to Industrial Activities.
(3) This item includes the elimination of receivables/payables between Industrial Activities and Financial Services.
(4) This item includes the elimination of paid capital from Industrial Activities to Financial Services.

Other Supplemental Financial Information
(Unaudited)

Other Supplemental Financial Information
(Unaudited)

Other Supplemental Financial Information
(Unaudited)

Other Supplemental Financial Information
(Unaudited)

Translation of financial statements denominated in a currency other than the Euro
The principal exchange rates used to translate into Euro the financial statements prepared in currencies other than the Euro were as follows:

Copyright 2026 GlobeNewswire, Inc.

2026 Half-Year Results

Solid performance in the first half of the year

Accretive impact of share buybacks on H1 2026 Net Asset Value

EUR450 million returned to shareholders year-to-date

Wendel Investment Managers (now 37% of Gross Asset Value Pro Forma1): continued fundraising momentum in H1 2026 with EUR2.2 billion of funds raised and double-digit Fee-Paying AuM2 and revenue growth year-on-year

• Wendel Investment Managers, Wendel's third-party asset management platform reached EUR48.7 billion in assets under management across private equity, private debt, and secondaries following the acquisition of Committed Advisors early April 2026.
• +25% total AuM growth over the last twelve months.
• EUR2.2 bn equity raised in H1 2026, of which EUR1.2 billion in secondaries and $1.2 billion in private credit. Net outflows in private credit (new subscription less redemption met) from the non-tradable BDC6 (Monroe Capital Income Plus) was limited to $0.09bn year-to-date.
• Fee Paying AuM totaled EUR37.8 billion7, up 30 % year-on-year; Pro forma8 FPAUM increased by 11% over the last twelve months.
• Reported management fees and other elements totaled EUR226.2 million9 (Committed Advisors consolidated since April 1st 2026) over the first half, growing 56% compared to last year, mainly due to Monroe Capital and Committed Advisors acquisitions.
• Reported Fee Related Earnings (FRE) totaled EUR87.1 million up +46% compared to H1 2025, and +11% pro forma3.
• Pro forma10 FRE reached EUR95 million, in line with expectations. The target of more than EUR200 million of pro forma FRE for the full year is confirmed.

Wendel Principal Investments: EBITDA growth across most of Group's private portfolio companies and ongoing active portfolio rotation

Fully diluted Net Asset Value11 as of June 30, 2026: EUR158.9 per share, after the payment of a EUR3.6 per share dividend in May

• Adjusted for the EUR3.6 dividend per share paid, fully diluted NAV per share increased by +2.6% since 31 March 2026. Share buybacks carried out over Q2 2026 had an accretive impact of +EUR2.8 per share:
• Wendel Investment Managers: total value in NAV increased by +EUR6.1 per share compared with 31 March 2026, driven by the combination of an increase in the valuation multiples of the comparable companies, cash generation, and the reduction of certain liabilities in Q2 2026. Pro forma for the signed disposals of Stahl and IHS, third-party asset management activities will represent 37% of Gross Asset Value, excluding cash12.
• Wendel Principal Investments:
• Slight decrease of EUR1.0 per share in listed assets NAV, primarily attributable to the minor decline in Bureau Veritas' share price in Q2;
• Unlisted assets: slight decline in value over Q2 2026 of -EUR2.8 per share, despite the good operating performance of the companies (reflecting a slight contraction in comparable-company multiples).

Dynamic execution of 2030 strategic roadmap

• Finalization of the acquisition of Committed Advisors, a manager specialized in the secondary market: Wendel Investment Managers further strengthens its position as a leading European midmarket private asset management platform:
• Following the acquisition of Committed Advisors, Wendel Investment Managers (WIM), Wendel's third-party asset management platform, would exceed EUR20013 million in 2026 annual FRE and EUR48.7 billion in AUM in private equity, private debt, and private market solutions.
• Strengthened partnership with BNP Paribas Asset Management Alts' GP stakes platform: acquisition of a 5.9% stake in Committed Advisors from Wendel. This investment reflects BNPP AM Alts' strong conviction in the secondaries market, as well as the trusted and longstanding relationship between all parties.
• Strong WPI portfolio rotation: c. EUR1.65 billion proceeds expected from the disposals of Stahl and IHS14 announced in February 2026
• 9% of capital share buyback program for 2026: rapid execution with 3.53 million shares bought back at an average price of EUR80.81 per share, or 8.24% of the capital already bought back as of June 30, 2026. In Q2 2026, share buybacks contributed positively by +EUR2.8 per fully diluted share to Wendel's Net Asset Value. This share buyback program was totally achieved as of July 27, 2026, for a total amount of EUR310 million.
• Balance of the 2025 dividend of EUR3.6 per share was paid in May 2026 (EUR140 million) bringing the total dividend for fiscal year 2025 to EUR5.10 per share. The next interim dividend will be paid in November 2026.

Strong financial structure

• Repayment of the EUR750 million Bureau Veritas exchangeable bond upon maturity in March 2026 in cash
• Available cash of EUR507 million (prior to the disposals of Stahl and IHS), gross bond debt of EUR1.4 billion, and EUR875 million in syndicated credit (undrawn)
• Average debt maturity of 6.1 years with an average cost of 2.8%
• Loan-To-Value ratio at 7.8%15 as of June 30, 2026
• S&P confirmed the BBB credit rating during Q1 2026

Net income, group share: EUR69.5 million, vs. EUR4.3 million in H1 2025

• Consolidated net sales up 3.2% to 3,835 MEUR
• Net income from operations up +28.9% at EUR418 million from EUR324 million in H1 2025
• Consolidated net income totaled EUR321 million, up 19.7% compared to H1 2025
• Net income, group share, at EUR69.5 million in H1 2026, compared to an income of EUR4.3 million in H1 2025

Wendel Investment Managers
37% of Gross Asset Value excluding cash16

Over H1 2026, the Wendel Asset Management platform (IK Partners, Monroe Capital and Committed Advisors), focused on the midmarket private markets, registered particularly strong levels of activity, generating a total of EUR226.2 million in reported Management fees and others, up +56.0 % vs. H1 2025, thanks to good organic growth and strong scope effects: in the first half of 2025, IK Partners was consolidated for the full semester, and Monroe Capital from late March, compared to the first half of 2026, in which IK Partners and Monroe Capital are consolidated over six months, and Committed Advisors from April 2026.

As a consequence, the reported consolidated Fee Related Earnings of the platform amounted to EUR87.1 million in H1 2026 (Committed Advisors having contributed only since April 1, 2026), up 46.4% vs last year, and FRE, group share, amounted to EUR51.1 million, up 49.5% vs last year. Recurring Profit Before Tax (FRE+PRE) was EUR90.7 million, up 48.1% vs. last year.

On a pro forma basis, assuming a full-semester contribution from Committed Advisors, FRE would have reached EUR95 million in the first half of the year at constant exchange rates, in line with the target of more than EUR200 million for full-year 2026 announced in December 2025.

Wendel Investment Managers pursued its strong momentum with equity fund raising of EUR2.2 billion during the first half, including EUR1.2 billion for Committed Advisors and $1.2 billion for Monroe Capital. For Monroe Capital,   over the same period, net outflows (new subscription less redemption met) from the non-tradable BDC (Monroe Capital Income Plus) was limited to $0.09bn.

As of June 30, 2026 Wendel's third-party asset management platform17 reached total assets under management of EUR48.7 billion (of which EUR12.1 billion of Dry Powder18), and FPAuM19 of EUR37.8 billion. Since the start of the year, EUR4.2 billion of new Fee Paying AuM were generated and about EUR3.1 billion of exits and payoffs have been realized.

WIM main business developments:

IK Partners maintains in 2026 its pace of cash returned to investors : sale of  Innovad and Sofia in the first half and, 3 announced sales in July: coin4 solutions, Forthglade and MDT Technologies. In term of deployment, IK has announced year-to-date the acquisitions of Rh?tor?s, Selatek and Domek Group. IK Partners is also expanding its geographical footprint, with the opening of a new office in Madrid, Spain and the appointment of Gonzalo Fernandez-Albi?ana as Partner, effective from September 1, 2026.

Monroe Capital raised $1.2 billion of New Equity and deployed $3.5 billion in the first half. Monroe Capital Private Credit Fund V ($6.1 billion) closed in December 2025 is now invested at 80% and a new vintage will be launched before year-end. Monroe is pursuing its diversification strategy in Asset-Backed Finance (launch of a REIT, closing of its first aircraft financing Asset-Backed Securities). 

Committed Advisors successfully raised EUR1.2 billion for its new CA GPSII and CASF VI funds in H1, in the first round of fundraising. The business pipeline for the next rounds is very positive.

Sponsor money invested by Wendel

As of June 30, 2026, Wendel's commitments in funds managed by IK Partners, Monroe Capital and Committed Advisors amount to EUR776 million including EUR273 million of sponsor money deployed and valued in NAV.

Principal Investment companies' value creation and performance

Figures post IFRS 16 unless otherwise specified.

Wendel's Principal Investments' portfolio rotation

Early 2026, Wendel announced the following transactions:

• Sale of Stahl: following the signing of an agreement to sell its stake in Stahl (excluding Muno),Wendel expects to receive total net proceeds of c.EUR1.2 billion at completion, which is expected to occur in the second half of 2026.

• Sale of IHS: Wendel supports MTN's offer to acquire IHS Towers pursuant to which it will receive full liquidity on its 19% stake, representing net proceeds of approximately $535m. IHS has called it general assembly of shareholders meeting for August 4, with closing expected to occur in the second half of 2026.

Together, these two transactions will generate approximately EUR1.65 billion and give Wendel full flexibility to achieve its long-term value creation objectives through investments in private assets, the development of Wendel Investment Managers (WIM), and a higher return to shareholders

Listed Assets: 30% of Gross Asset Value excluding cash20

Bureau Veritas: Delivering on its commitments with higher sequential organic growth in Q2 and continuous margin improvements

(full consolidation)

In the first half of 2026, Bureau Veritas reported total revenue of EUR3,258.4 million, marking a 2.1% increase compared to H1 2025. Organic revenue growth was 5.0% compared to the first half of 2025, with growth of 5.5% in the second quarter of 2026. This growth was driven by solid underlying trends across the Buildings & Infrastructure, Marine & Offshore and Consumer Products Services businesses and in most geographies.

H1 2026 adjusted operating profit stood at EUR506.5 million, up 3.1% vs. H1 2025, representing an adjusted operating margin of 15.5%, up 15 bps year-on-year and up 29 bps at constant currency.

Adjusted attributable net profit totaled EUR303.8 million in the first half of 2026, up 3.9% vs. EUR292.4 million in H1 2025. Adjusted EPS stood at EUR0.68 in H1 2026, a 4.8% increase compared to last year and up 9.8% based on constant currencies.

Upgraded 2026 outlook post disposal of activities planned for exit

Bureau Veritas continues to rotate its portfolio and to execute the LEAP | 28 strategy. Based on a solid first-half performance, a robust pipeline and the ongoing portfolio reshaping, including the planned exit from Oil & Petrochemicals and Coal testing and inspection and from "Government Services" businesses, the Group is enhancing its growth profile and upgrades its full-year 2026 guidance as follows:

• Mid-to-high single-digit organic revenue growth, versus mid-single-digit growth previously,
• Adjusted operating margin improvement at constant exchange rates, unchanged,
• Strong cash flow generation, unchanged.

Bureau Veritas is fully committed to its LEAP | 28 financial guidance, benefiting from specific favorable market trends and from the sustained execution of the strategy's portfolio and performance programs.

For further details: group.bureauveritas.com

Unlisted Assets: 33% of Gross Asset Value excluding cash21

(1 ) In accordance with IFRS 5, the contribution of CPI France has been reclassified as "Net income from discontinued operations and operations held for sale" in 2025. Comparable H1 2025 revenue amounted to $69.2 million, compared with reported H1 2025 revenue of $69.5 million. The $0.3 million difference relates to CPI France, which was classified as held for sale and reported as a discontinued operation under IFRS 5.

(2) Equity method. 6-month revenue from December 1, 2025, to May 31, 2026. In H1 2025, Indian activities were not consolidated in Globeducate's accounts, but are consolidated in H1 2026 figures (EUR11.7 million).

Crisis Prevention Institute ? H1 2026 revenue growth of +0.8% and +3.0% EBITDA growth as compared with H1 2025

(full consolidation) 

Crisis Prevention Institute reported H1 2026 revenue of $69.8 million, representing growth of +0.8% vs. H1 2025. Of this increase, -0.2% was organic and +1.0% came from FX movements.

In North America, revenue was flat year-on-year reflecting continued federal oversight and funding uncertainty across CPI's customer's end markets. This was partially offset by continued customer engagement and strong renewal activity of existing Certified Instructors. CPI's international operations delivered growth of +9%, supported by favorable commercial momentum and accelerating demand, highlighting the global relevancy of CPI's services.
H1 2026 EBITDA was $31.3 million, up +3.0% vs. H1 2025, reflecting margins of 44.8% driven by tight cost controls only partially offset by the ramp-up of growth investments. Additional investments are budgeted for H2 2026.

As of June 30, 2026, net debt totaled $419.7 million, or 5.4x EBITDA as defined in CPI's credit agreement.

Andee Harris, CPI's new CEO who joined in August 2025, is leading an effort to strengthen the company's management and commercial organization to best capture market opportunities and return to stronger growth. These initiatives include, in particular, the reinforcement of the go-to-market capabilities, with a more targeted approach for new account development.

ACAMS ? H1 2026 pro forma revenue growth of +4.2% as compared to H1 2025, driven by strong recovery in Europe and continued growth in the Americas and Middle East. Revenue growth supported by +200 bps improvement in EBITDA margin to 27.7%.

(full consolidation)

ACAMS reported revenue of $53.9 million, up +1.3% compared to H1 2025, or up +4.2% excluding the non-core Risk Assessment offering which will be discontinued in accounting presentations starting from Q3 2026. H1 2026 performance reflects the ongoing commercial transformation, including newly appointed executive leadership and go-to-market teams, recently launched technology platform, and accelerating demand across the Americas and EMEA offset by select customer delays in the APAC region, which are expected to be resolved in Q3 2026.

H1 2026 EBITDA was $14.9 million, up 8.8% vs. H1 2025 and reflecting a 27.7% margin, up 200 bps year-over-year. The increase in first half profitability largely reflects topline growth and disciplined cost control by management.

As of June 30, 2026, net debt totaled $164.2 million, which represents 4.9x EBITDA as defined in ACAMS' credit agreement, with ample room relative to the 9.5x covenant level.

Scalian ? Amid continued challenging market conditions, Scalian maintained a resilient EBITDA margin of 11.0% while laying the foundations for a gradual recovery in activity. Revenue down 5.1%.

(Full consolidation)  

Scalian, a leading consulting firm specializing in systems engineering, operational performance and AI transformation, reported revenue of EUR244.5 million in the first half of 2026, down 5.1% compared with the first half of 2025.

This performance reflects continued challenging market conditions, particularly in France, where customer decision-making cycles remain extended, partly offset by a more resilient trend in international markets. Organic growth stood at -4.8% over the period.

Against this backdrop, Scalian generated EBITDA of EUR26.8 million in the first half of 2026. The EBITDA margin stood at 11.0%, down by a limited 20 bps compared with the first half of 2025, demonstrating the Scalian's ability to preserve its operating performance despite lower activity levels, supported by efficiency measures implemented by management and enhanced cost discipline.

As of June 30, 2026, net debt amounted to EUR292.3 million (6.49x EBITDA leverage22). During the period, Wendel converted its EUR100 million shareholder loan granted in 2025 into equity, thereby strengthening Scalian's balance sheet and supporting its ability to continue executing its development strategy in its core areas of expertise.

Globeducate ? Total revenue up +11.7% over 6-month period ending May 31, 2026. Annualized EBITDA margin c.25% in line with expectations.

(equity accounted. Activity for the six-month period from December 1, 2025 to May 31, 2026.)

Globeducate, one of the world's leading bilingual K-12 education groups, posted total revenue of EUR251.1 million23 for the 6-month period ending May 31, 2026, representing a total increase of +11.7% over last year. Of this increase, +6.1% was organic, +6.5% came from accretive M&A transactions and change in scope, including the consolidation of India, and -0.9% was FX. In H1 2025, Indian activities were not consolidated in Globeducate's accounts, but are consolidated in H1 2026 figures (EUR11.7 million).

EBITDA for the period stood at EUR90.5 million. EBITDA is always particularly high at this time of year driven by the seasonality of the business (revenues are recognized over the academic year while costs are spread out across the entire fiscal year) and will smooth out over the next quarter. EBITDA was in line with expectations and ensures an annualized EBITDA margin at c.25%. This solid financial performance was fueled by a combination of organic and external growth as well as strict cost control.

Over the last twelve months, Globeducate completed the following acquisitions, which contributed to the scope effect on revenues: Clover (Canada), closed in September 2025, contributing to the 2026 perimeter. In addition, Globeducate acquired Peleteiro (Spain), closed in May 2026, signed an agreement to acquire Queen Morta (Lithuania), in mid-June 2026 (closing expected by the end of the year) and sold in January 2026 Areteia, a non-core school in Spain generating EUR1.1 million in EBITDA.

Net debt as of May 31, 2026, was EUR910.6 million and leverage stood at 6.7x, as per credit documentation.

Other unlisted assets

Tarkett is now an unlisted asset and Muno is classified as an asset held for sale (IFRS 5). The combined value of these two assets in Wendel's NAV as of June 30, 2026 is approximately EUR250 million.

Wendel's net asset value as of June 30, 2026: EUR158.9 per share on a fully diluted basis

Change in NAV compared to March 31, 2026:

Wendel's Net Asset Value (NAV) as of June 30, 2026, was prepared by Wendel to the best of its knowledge and on the basis of market data available at this date and in compliance with its methodology.

Fully diluted Net Asset Value was EUR158.9 per share as of June 30, 2026 (see detail in the table below), increasing by +2.6% since end of March 2026 when restated from the EUR3.6 dividend balance paid in May. NAV published as of March 31, 2026 was EUR158.4, representing an increase of EUR0.5 per share since then (+1.5%) and by EUR4.1 per share including the dividend paid in May 2026.

The change in NAV in the second quarter breaks down as follows:

• WPI: slightly negative contribution to value creation in the second quarter (-EUR3.8 per share):
• Listed assets' total value is slightly down (-EUR1.0 per share) as a result of Bureau Veritas 20-day average share price slightly decreasing in Q2 2026. Positive contribution from IHS Towers, valued at the current offer price and supported by favorable foreign-exchange effects from the stronger U.S. dollar.
• Unlisted assets' value in NAV was slightly down over the second quarter with a total change of -EUR2.8 per share, despite the good operating performance of the companies, and reflecting a slight contraction in comparable-company multiples.
• WIM's contribution to NAV growth was positive, at +EUR6.1 per share in Q2, driven by an increase in the valuation multiples of the comparable companies, cash generation, and the reduction of certain liabilities in Q2 2026.
• A total of EUR273 million of sponsor money is included in the NAV as of end of June, corresponding to investments in funds managed by IK Partners, Monroe Capital and Committed Advisors.
• Other components of fully diluted Net Asset Value (NAV):
• Cash operating costs, net financing results and other items impacted NAV by -EUR1.0 per share over Q2, reflecting contained operating costs.
• Between March 31 and June 30, 2026, Wendel repurchased 1.5 million shares under its share buyback program, resulting in a positive contribution of EUR2.8 per share to Wendel's fully diluted NAV over the quarter.

Fully diluted NAV per share of EUR158.9 as of June 30, 2026

(1)   Last 20 trading days average as of June 30, 2026, March 31, 2026, December 31,2025.
(2)   Investments in unlisted companies (Tarkett, Stahl, Crisis Prevention Institute, ACAMS, Scalian, Globeducate, Muno, Wendel Growth). Aggregates retained for the calculation exclude the impact of IFRS16. Globeducate valued based on transaction multiples. Stahl valued based on transaction price.
(3)   Investments in IK Partners (c.51%), Monroe Capital (c.72%) and Committed Advisors (c. 64% incl. forward sale) since June 30 (excl. Cash to be distributed to shareholders). Valued as a platform based on Net Income / Distributable earnings multiples.
(4)   Of which 3,958,171 treasury shares as of June 30, 2026, 2,431,636 as of March 31, 2026 and 432,387 as of December 31,2025.
(5)   Cash position and financial assets of Wendel & holdings.


Assets and liabilities denominated in currencies other than the euro have been converted at exchange rates prevailing on the date of the NAV calculation.
If co-investment and managements LTIP conditions are realized, subsequent dilutive effects on Wendel's economic ownership are accounted for in NAV calculations. See page 286 of the 2025 Registration Document.

Consolidated Accounts

On July 29, 2026, Wendel's Supervisory Board met under the chairmanship of Nicolas ver Hulst and reviewed Wendel's consolidated financial statements, as approved by the Executive Board on July 23, 2026.

Wendel Group's consolidated net sales totaled EUR3,835.2 million, up +3.2% overall and up +4.0% organically. FX contribution is -2.6% and scope effect is +1.9%.

WIM's contribution to net income from operations rose from EUR49.0 million in H1 2025 to EUR78.0 million in H1 2026 thanks to the acquisition of Committed Advisors in April 2026 and Monroe Capital's contribution over 6 months in H1 2026 (compared to 3 months in H1 2025). WIM's contribution to the net income group share increased from EUR29.3 million to EUR49.1 million.

The sponsor money contributions from WIM and Wendel Growth have been reclassified within net income from operations to better reflect the deployment of the Group's strategy. It contributed a gain of EUR10.8 million in H1 2026, compared with a loss of EUR32.5 million in H1 2025, the latter primarily reflecting an impairment related to Wendel Growth funds disposed of in H2 2025.

In addition, the total contribution from WPI portfolio companies to net income from operations attributable to the Group amounted to EUR102.9 million, stable vs. H1 2025 (EUR102.5 million).

Total financial expenses, general and administrative expenses, and taxes recorded at the level of Wendel SE amounted to EUR62.0 million (including EUR12.0 million in non-cash items), representing an increase of 35% compared with EUR45.9 million in H1 2025. This increase is largely due to net financial income impact (EUR-11.5 million in H1 2026 vs. -EUR1.0 million in H1 2025) due to lower returns on cash, reflecting the combined impact of lower interest rates and a lower cash balance. In addition, general and administrative expenses were higher due to the WIM platform structuration.

Net income from operations therefore increased by +28.9% at EUR418.1 million compared with EUR324.4 million in H1 2025, while net income from operations attributable to the Group amounted to EUR100.9 million, up 88.5%.

Consolidated net income for H1 2026 totaled +EUR320.8 million (EUR69.5 million attributable to the Group),
up +19.7% vs. H1 2025.

Return to shareholders

2026 share buyback program of 9% of Wendel's capital

Since February 27, 2026, Wendel has repurchased 3.53 million shares for a total amount of 285.3 million euros, as of June 30, 2026. This already represents 8.24% of the capital bought back, at an average price of EUR80.81 per share. This share buyback programme was fully completed as of 27 July 2026. As a result, Wendel repurchased 3,835,000 shares for a total amount of EUR310 million, since February 27, 2026.

Agenda

Thursday, October 22, 2026  

Q3 2026 Trading update ? Financial communication as of September 30, 2026 (before-market release)  

Wednesday, December 2, 2026  

Investor Day 2026

Friday, February 26, 2027

Full-Year 2026 Results ? Publication of NAV as of December 31, 2026, and Full-Year consolidated financial statements (before-market release)

Thursday, April 22, 2027  

Q1 2027 Trading update ? Financial communication as of March 31, 2027 (before-market release)  

Thursday, May 27, 2027  

Annual General Meeting   

Thursday, July 29, 2027  

H1 2027 Results ? Financial communication as of June 30, 2027, and Half-Year consolidated financial statements (before-market release)

About Wendel

Wendel is one of Europe's leading listed investment firms. Regarding its principal investment strategy, the Group invests in companies which are leaders in their field, such as ACAMS, Bureau Veritas, Crisis Prevention Institute, Globeducate, IHS Towers, Scalian, Stahl and Tarkett. In 2023, Wendel initiated a strategic shift into third-party asset management of private assets, alongside its historical principal investment activities. In this context, Wendel completed the acquisitions of a 51% stake in IK Partners in May 2024, 72% of Monroe Capital in March 2025 and 64% (including forward sale) of Committed Advisors in April 2026. As of June 30, 2026, Wendel Investment Managers manages 48.7 billion euros on behalf of third-party investors, and c.3.6 billion euros (PF sale of Stahl & IHS) invested in its Principal Investments activity.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor's ratings: Long-term: BBB, stable outlook ? Short-term: A-2

Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand M?c?ne de la Culture" in 2012.

For more information: wendelgroup.com

Follow us on LinkedIn @Wendel

Appendix 1: H1 2026 Consolidated sales and results

H1 2026 consolidated net sales

                                                
(1)   In accordance with IFRS 5, the contribution of CPI France has been classified as "Net income from discontinued operations and operations held for sale" as from Q4 2025. The impact amounts to 0.16 MEUR for Q2 2026 and 0,3 MEUR for H1 2026 ."
(2)   In H1 2026, sales including WPI Bridge fees which are neutralized by intercompany elimination.
(3)   Acquisition of Monroe by the end of March 2025. Contribution of sales for 3 months in 2025 versus 6 months in 2026
(4)   Contribution of 3 months' sales from April 1st, 2026 to June 30, 2026.   
(5)   In accordance with IFRS 5, the contribution of Stahl has been reclassified in "Net income from discontinued operations and operations held for sale".

H1 2026 net sales of equity-accounted companies

(6)   Selling price adjustments in the CIS countries are historically intended to offset currency movements and are therefore excluded from the "organic growth" indicator
(7)   In H1 2025, India was not consolidated in Globeducate's accounts. In H1 2026, the contribution from India amounts to 11,7 MEUR.

H1 2026 consolidated results

(1) Net income before goodwill allocation entries and non-recurring items.

(2) 55,6 mEUR of change in fair value for IHS recognized through OCI.

H1 2026 net income from operations

Appendix 2: Conversion from accounting presentation to economic presentation

Please refer to table 5.1 of the consolidated statements.

Appendix 3: Loan-to-Value Ratio as of June 30, 2026

Appendix 4: IFRS 16 - Summary table of main aggregates before and after the application of IFRS 16        

(1)   In accordance with IFRS 5, the contribution of CPI France has been reclassified as "Net income from discontinued operations and operations held for sale" in 2025. Comparable H1 2025 revenue amounted to $69.2 million, compared with reported H1 2025 revenue of $69.5 million. The $0.3 million difference relates to CPI France, which was classified as held for sale and reported as a discontinued operation under IFRS 5.

Appendix 5: Glossary