The following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.

DFI RETAIL GROUP HOLDINGS LIMITED

HALF-YEAR RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026

Highlights

Underlying profit from continuing businesses1 grew 44% to US$117 million

Reported profit was US$118 million, compared to a US$38 million loss in the prior year period

Like-for-like (LFL) subsidiary sales growth from continuing businesses2 improved to 3%

Health & Beauty sustained strong LFL sales; Convenience and Home Furnishings returned to growth

E-commerce and DFIQ Media contributed to approximately 35% of sales growth

Return on capital employed improved to 12%, up from 9% as of December 2025

Interim dividend of US?6.20 per share, up 77% year-on-year. Maintain full-year dividend payout of 70%

Raised full-year organic revenue3 growth guidance to be between 3.0% and 4.0%, and underlying profit to be between US$285 million and US$305 million

Announced 100% interest acquisition of Cody Hong Kong (Cody HK), one of the leading outdoor advertising solution providers in Hong Kong

HONG KONG SAR - Media OutReach Newswire - 28 July 2026 - "Our first-half performance, with underlying profit1 growth of 44% and a consistently improving LFL subsidiary sales trend, reflects the strength of our strategy in action ? a sharper value for customers, a strong focus on returns and execution with discipline.

This was supported by sustained momentum in Health & Beauty, as well as strong recovery in Convenience and Home Furnishings segments. Our acquisition of Cody HK's extensive outdoor media portfolio, together with its experienced leadership team, strengthens our capability to deliver full-funnel, omnichannel advertising solutions while accelerating the growth of DFIQ Media. As we continue to deepen customer engagement and build new profit pools through the DFI Omni Platform, we are well-positioned to deliver sustainable long-term value with greater earnings resilience."

Scott Price

Group Chief Executive

DFI HY2026 Table

DFI RETAIL GROUP HOLDINGS LIMITED

HALF-YEAR RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026

OVERVIEW

The Group delivered strong performance in an evolving macroeconomic climate, underpinned by disciplined execution and a focus on driving higher returns. A portfolio built on everyday essentials, combined with a strong value proposition with convenience, continues to resonate with customers against the backdrop of oil price volatility. For the first half of 2026, subsidiary LFL sales growth from continuing businesses4 further improved to 3%. This was driven by sustained strong momentum in the Health & Beauty segment, as well as a return to growth in both the Convenience and Home Furnishings businesses. Price reinvestment, supported by a reset in sourcing strategy, drove Food volume growth with Wellcome's basket price now trading at a discount relative to the Greater Bay Area5, compared to a premium in the prior year.

The Group's commitment to retail excellence, a lean overhead structure and expanded omnichannel touchpoints enables us to serve our customers with better pricing and better experience. The DFI Omni Platform further strengthens this by seamlessly integrating our extensive store network with digital capabilities, delivering greater convenience and personalisation while unlocking new value pools through rich, cross-format data insights. Developing and scaling high-margin revenue streams, including retail media (DFIQ Media) and insights monetisation (DFIQ Insights), will diversify our profit base and support long-term value creation.

To enhance operational efficiency and improve productivity of team members, the Group introduced GenAI-powered tools in the first half of 2026, with plans to scale deployment across operating markets in the coming months. In parallel, AI capabilities are increasingly embedded across core retail functions, including assortment optimisation, promotion planning and demand forecasting, to drive better, more data-driven decisions.

The Group undertook a thorough review of the cost structure with the aim of driving sustainable savings and improving long-term cost efficiency. This has led to a reallocation of resources and costs toward format-level operations, driving greater agility and responsiveness to evolving market conditions, while continuing to reduce central selling, general and administrative (SG&A) costs through overhead optimisation. Combined with improving digital economics, underlying operating profit from continuing businesses6 grew 14% year-on-year in the first half of 2026. Improved operating performance and lower financing costs contributed to an 11% increase in underlying profit attributable to shareholders, or 44% from continuing businesses7 only.

The Group maintained a healthy balance sheet with a net debt position of US$22 million as of 30 June 2026. Return on capital employed further improved to 12%, up from 9% as of December 2025.

The Group declared an interim dividend of US?6.20 per share, representing a significant increase of 77% compared to the same period last year. This enhanced interim dividend distribution underscored the Board's confidence in the Group's underlying business momentum and strong cash flow generation, while ensuring sufficient capital for future growth in line with our 70% payout policy.

OPERATING PERFORMANCE

Overall

For the first half of 2026, underlying subsidiary revenue from continuing businesses6 was US$4.1 billion, up 4% year-on-year and 3% on a LFL basis. The growth was driven by strong performance in the Health & Beauty division, as well as a return to growth in the Convenience and Home Furnishings segments. Total revenue, including Maxim's, was US$5.6 billion. Excluding divestments7, total revenue increased by approximately 4%.

Overall underlying profit attributable to shareholders from continuing businesses7 grew 44% year-on-year to US$117 million, primarily driven by improved operating profit and lower financing costs.

Underlying subsidiary profit from continuing businesses6 was US$101 million, reflecting a 49% year-on-year increase, primarily driven by earnings recovery in the Home Furnishings and Food segment with lower SG&A expenses as a result of overhead reduction.

Underlying profit from associates was US$16 million, down from US$30 million in the prior comparable period, which included share of profits from Robinsons Retail ahead of its disposal. Excluding this, profit contribution from associates was up 22% year-on-year due to robust sales growth and effective cost optimisation at Maxim's.

The Group reported operating cash flow after lease payments of US$178 million, 16% higher than the prior year period, driven by underlying operating profit growth. Free cash flow for the period was a net inflow of US$85 million, down 5% year-on-year, due to increased capex investment in priorities that will further strengthen the Group's competitive position while driving long-term value for shareholders.

Digital

Capturing a significant share of daily essential customer missions in Hong Kong, the DFI Omni Platform ? powered by yuu ? enables deeper customer engagement across offline and online touchpoints, maximises data capture and unlocks incremental margin opportunities beyond core retail through DFIQ Media and DFIQ Insights. Overall digital turned profitable, with e-commerce and DFIQ Media contributing to approximately 35% of total revenue growth in the first half of 2026. This was supported by improved underlying e-commerce economics, a rising online sales penetration8 to 6.9% and 3 times in DFIQ Media revenue compared to first half of 2025. As of June 2026, more than 10,000 digital media-ready screens were available across DFI outlets.

Subsidiaries

Sales for the Health & Beauty division were US$1.4 billion, up 8% year-on-year from continuing businesses9, 7% in constant currency, or 6% on a LFL basis, with continued market share gains across key operating markets. Mannings and Guardian deepened their leadership as the trusted advisors for wellness through an enhanced, wellness-focused assortment and continued roll-out of skin and scalp assessment services across a wider store network.

The recently announced exclusive distribution partnership with Holland & Barrett, a leading UK health and wellness retailer, will further expand customer access to trusted wellness solutions in Hong Kong and Singapore, followed by a broader rollout across selected Asia markets in the coming years. In Hong Kong and Macau, Mannings delivered 5% LFL sales growth, driven by increased basket size and robust tourist store sales amid higher visitor arrivals. In Southeast Asia, Guardian achieved strong LFL sales growth of 9%, supported by higher basket sizes and improved promotional efficiency, with Indonesia and Vietnam delivering close to 20% LFL growth. Excluding the impact of cost reallocation and closure of Mannings China offline stores, divisional profit increased moderately by 2% to US$109 million. Margin declined primarily due to increased strategic promotions to drive stronger sales and market share in Southeast Asia, particularly in Malaysia where health & beauty retailers did not benefit from the SARA Cash Aid Programme.

Total Convenience sales were US$1.2 billion, up 4% year-on-year or 2% on a LFL basis, as continued growth in higher-margin categories, including ready-to-eat (RTE) and exclusive collectibles, more than offset the decline in lower-margin cigarette volumes. Hong Kong LFL sales returned to growth in the second quarter following ten consecutive quarters of decline, supported by RTE and an expanded non-food assortment, including limited-edition collectibles and K-pop merchandise.

Excluding cigarettes, LFL sales were up 3% for the period. In Singapore, effective promotional campaigns and collectible product launches drove strong LFL sales growth of 8%. In South China, continued store network expansion through a capex-light franchise model - including a net addition of 112 stores since June 2025 to nearly 1,980 locations - contributed to 12% sales growth year-on-year or 6% on constant currency basis.

LFL sales were 1% higher compared to the prior year period, driven by the successful launch of Own Brand in key categories of frozen products and packaged drinks. The team remains focused on driving footfall and sales through further expansion of the RTE offering across both offline and online channels. This includes a broader rollout of the Food Bar to 453 stores as of June 2026, up from 325 at year-end 2025, and strong overall online sales growth of more than 35%. Excluding cost reallocation impact, profit for the division increased by 2% to reach US$37 million.

Reported sales for the Food division from continuing businesses10 were US$1.1 billion, up 1% year-on-year. LFL sales returned to positive growth of 0.5% in the second quarter of 2026. In Hong Kong, investment in reduced pricing on core basket items, a stronger fresh proposition, and Own Brand offering drove 2% increase in total volume and 0.5% LFL sales growth in the first half of 2026. As of June 2026, Wellcome's "Everyday Value" range has expanded to nearly 500 items, offering savings of up to 40%, bringing its basket price down from a premium to a discount relative to the Greater Bay Area.

The team also accelerated omnichannel growth with more than 35% growth in online order volume. In Cambodia, Lucky reported strong double-digit sales growth, with profit more than doubling year-on-year. The plan to open 50 new stores over the next few years remains on track. Macau Food sales remained challenging as a result of cross-border grocery shopping. Excluding the impact of cost reallocation and the divestment of Singapore Food, overall divisional profit increased by 27% year-on-year to US$17 million.

The Home Furnishings division delivered strong recovery in performance during the first half of 2026, with LFL sales growth of 4%, compared to a decline of 6% in the prior year period. Price reinvestment in core value SKUs, a stronger focus on locally relevant ranges and IKEA Food innovation drove increased footfall and items per baskets, resulting in a 3% LFL sales growth in Hong Kong and 5% in Taiwan. IKEA Food remains a critical traffic and revenue driver, accounting for 15% of total sales. In Indonesia, while offline sales momentum remained soft, LFL sales trend improved on a strengthening IKEA's omnichannel proposition with online sales penetration reaching 24%. Sales recovery and effective cost optimisation measures contributed to 85% growth in overall divisional profit, excluding cost reallocation impact.

Associates

The Group's share of Maxim's underlying profits was US$16 million for the first half of 2026, up 15% year-on-year, underpinned by continued cost optimisation and operational efficiency measures. Sales for the period increased by 4%, driven by strong restaurant performance in Southeast Asia and a return to growth in the Chinese mainland, partially offset by weaker sales in Hong Kong.

RECENT BUSINESS DEVELOPMENTS

On 30 June 2026, the Group announced the acquisition of 100% interest in Cody Hong Kong (Cody HK), one of the leading outdoor advertising solution providers in Hong Kong, for a cash consideration of HK$30.2 million (approximately US$3.8 million) from ARN Media Network Limited (ASX: A1N), subject to customary adjustments.

The acquisition advances DFI's strategy to build a full-funnel advertising solution in Hong Kong through DFIQ Media. By integrating Cody HK's strategic assets - including multi-year exclusive advertising rights with Kowloon Motor Bus (KMB) and Hong Kong Tramways (HKT) - with DFI's extensive store network, growing online user base, and closed-loop measurement capabilities, DFIQ Media strengthens its ability to deliver high-impact advertising solutions to a broader advertiser base across online, in-store, and outdoor channels.

Subject to satisfaction of third-party consents, the transaction is expected to complete in the second half of 2026.

PEOPLE

On 6 July 2026, the Group announced four senior leadership appointments effective from 1 August 2026. These moves reflect the Group's continued focus on strengthening its leadership pipeline and driving the next phase of growth with experienced, proven leaders.

Andrew Wong will be appointed Chief Executive Officer, DFI IKEA. Formerly CEO of Health & Beauty, Andrew brings extensive experience in driving customer-led growth, operational discipline and in-store digitalisation across multiple markets. His earlier leadership of franchise operations at Jardine Restaurant Group positions him well to lead the IKEA business into its next phase of development.

Curtis Liu, having most recently served as Chief Executive Officer of Food, will be appointed Chief Executive Officer, Health & Beauty. His proven leadership in driving customer value repositioning in Hong Kong, combined with deep operational retail knowledge and digital experience at JD.com, positions him well to drive continued momentum and omnichannel growth in Health & Beauty.

Tom van der Lee will be appointed Chief Executive Officer, Food. Tom has played an instrumental role as Group Chief Financial Officer, driving financial discipline and supporting key strategic decisions across the Group. His prior experience at FrieslandCampina, a global food company, and his broad financial leadership across DFI banners in Southeast Asia supported his strong commercial grounding to lead the Food business.

Kaizhi Wu will succeed Tom as Group Chief Financial Officer. Kaizhi currently serves as Group Finance Director, Planning & Reporting, based in Hong Kong. Prior to joining DFI, he served as Executive Vice President and Chief Financial Officer of Yonghui Superstores Co., and earlier held senior roles at Jardine Matheson, Fosun Group and PwC in London. Kaizhi will join the Group's Management Committee upon assuming his new role.

OUTLOOK

The Group remains confident in our ability to navigate the evolving trading environment, supported by sharpened business priorities, a strong balance sheet and low-cost operating model. Financial outlook outlined at the Investor Day in December 2025 remains intact as DFI continues to execute our multi-year strategic initiatives that are critical to driving sustainable revenue and earnings growth. These initiatives include strengthening our value proposition, strategically expanding store network, enhancing omnichannel capabilities and accelerating digital asset monetisation through data-driven insights. In particular, the growing DFI Omni Platform will deepen our customer engagement, further reinforce our core retail strength and enhance overall earnings resilience in the long term.

Despite an elevated oil price outlook for the remainder of the year, the Group expects to deliver stronger profitability supported by enhanced operational efficiency. As a result, the Group revises up its full-year organic revenue growth11 outlook to be between 3.0% and 4.0% (up from previously 2.0% to 3.0%), and underlying profit attributable to shareholders to be between US$285 million and US$305 million (up from previously US$270 million and US$300 million).

Scott Price

Group Chief Executive

-----------------

1 Excluding impacts of divestment of Singapore Food business, closure of Mannings China and disposal of minority stake of Robinsons Retail

2 Excluding impacts of divestment of Singapore Food business and closure of Mannings China

3 Excluding Singapore Food and Mannings China

4 Excluding impacts of divestment of Singapore Food business and closure of Mannings China

5 Based on a third-party assured price comparison of a 200-item comparable basket between DFI and Shenzhen

6 Excluding impacts of divestment of Singapore Food business and closure of Mannings China

7 Excluding impacts of divestment of Singapore Food business, closure of Mannings China and disposal of minority stake of Robinsons Retail

8 Excluding cigarettes under Convenience and IKEA Food

9 Excluding Mannings China

10 Excluding Singapore Food business

11 Excluding Singapore Food and Mannings China

Hashtag: #DFIRetailGroup  #Mannings  #Guardian  #7-Eleven  #Wellcome  #MarketPlace  #IKEA  #yuu  #Maxim's 

The issuer is solely responsible for the content of this announcement.

July 27, 2026

Q2 2026 Group performance

Comparable order intake declined 1%, due to timing of certain large orders

Group sales of EUR 4.4 billion, reflecting 4% comparable sales growth

Income from operations of EUR 609 million, including US tariff refund benefit of EUR 186 million

Adjusted EBITA margin increased to 16.4%, including US tariff refund benefit of effectively 4.2%

Operating cash flow of EUR 376 million, with free cash flow of EUR 222 million including receipt of US tariff refund

2026 comparable sales growth outlook reiterated; Adjusted EBITA and free cash flow outlook updated to reflect US tariff refund

Roy Jakobs, CEO of Royal Philips:

"We delivered another solid quarter with comparable sales growth of 4%, driven by all business segments, and strong disciplined execution within an uncertain macro environment. Customer demand for our innovations remains healthy, with certain large orders in North America shifting into the third quarter, while Europe delivered strong double-digit order growth.

Our plan continues to gain traction, creating value through focused segment strategies, differentiated platform innovations, commercial excellence and disciplined execution. We launched SmartIQ for our Azurion image-guided therapy platform and received several new regulatory clearances for our AI-powered innovations. Our teams around the world are focused on delivering better care for more people.

We largely completed the US tariff refund process during the quarter and continue to actively manage the broader macro environment, including inflation. Our productivity program is on track, helping to largely offset these pressures. We are strengthening our supply chain resilience as we continue to put quality at the heart of our operations."

Group and segment performance

Comparable order intake declined 1%, with growth in Diagnosis & Treatment offset by the timing of certain large Connected Care orders shifting into the third quarter. Comparable sales increased by 4% in the quarter, driven by growth across all segments.

Adjusted EBITA margin increased to 16.4%, including a US tariff refund benefit of effectively 4.2%. Excluding the US tariff refund benefit, Adjusted EBITA slightly decreased mainly due to cost inflation and higher tariffs, partly offset by higher sales and productivity measures. Net cash flows from operating activities remained broadly flat, with higher working capital outflows offset by the US tariff refund.

Diagnosis & Treatment comparable sales increased by 2%. Adjusted EBITA margin increased to 13.9%, including a US tariff refund benefit of approximately 4.6%. Excluding the US tariff refund benefit, Adjusted EBITA decreased mainly due to cost inflation, higher tariffs and unfavorable mix effects, partly offset by productivity measures.

Connected Care comparable sales increased by 2%. Adjusted EBITA margin increased to 17.8%, including a US tariff refund benefit of approximately 6.1%. Excluding the US tariff refund benefit, Adjusted EBITA increased mainly driven by operational improvements and productivity measures, partly offset by cost inflation and higher tariffs.

Personal Health comparable sales increased by 8%. Adjusted EBITA margin increased to 23.0%, including a US tariff refund benefit of approximately 5.0%. Excluding the US tariff refund benefit, Adjusted EBITA increased mainly driven by higher sales and productivity measures, partly offset by cost inflation.

Innovation highlights

Philips launched SmartIQ for its Azurion image-guided therapy platform, addressing the trade-off between image quality and radiation dose in coronary procedures. The technology enables an ultra-low dose protocol using over 50% less X-ray radiation than current low-dose settings, supported by the first published clinical evidence.

Philips unveiled the AI-powered Titanion MR, a next-generation ultra-high-gradient 3.0T MRI system, and a first-of-its-kind 4D MR solution for radiation therapy planning, enabling more precise imaging, improved visualization of moving tumors and enhanced clinical decision-making.

Philips partnered with healthcare providers across Poland to modernize more than 200 hospitals through over 300 healthcare technology projects under the country's National Recovery and Resilience Plan. The large-scale deployment of imaging, image-guided therapy and patient monitoring solutions expands access to high-quality care nationwide.

Philips was selected through a tender led by Karolinska University Hospital to support Region Stockholm's hospital-at-home initiative, delivering more care at home, remote patient monitoring and AI-enabled clinical services for up to 15,000 patients annually.

Philips signed long-term enterprise imaging partnerships with a premier health system customer in the US and Imperial College Healthcare NHS Trust in the UK. The cloud-based imaging collaborations will connect care teams, streamline workflows and improve access to critical patient information.

Philips strengthened its Personal Health innovation leadership with recognition from the Good Housekeeping 2026 Beauty Awards for the Lumea IPL 9000 and Sonicare 6400, and launched the new Philips S800 Compact Shaver in China.

Productivity

Disciplined cost management and productivity initiatives delivered EUR 132 million in savings in the quarter. Philips is on track to deliver EUR 1.5 billion in savings under its 2026-2028 productivity program.

Outlook

Philips reiterates its full-year 2026 outlook, updated to reflect the US tariff refund benefit:

Comparable sales growth: 3%-4.5%

Adjusted EBITA margin: 13.5%-14.0%, including a US tariff refund benefit of approximately 1%, compared to 12.5%-13.0% previously

Free cash flow: EUR 1.5-1.7 billion, updated to reflect the US tariff refund, compared to EUR 1.3-1.5 billion previously

Within the context of an uncertain macro-environment, Philips' 2026 outlook includes currently known tariffs. It excludes ongoing Philips Respironics-related proceedings, including the investigation by the US Department of Justice and the State Attorneys General.

Capital allocation

Philips completed its dividend distribution for 2025 in the second quarter of 2026. As approved by the Annual General Meeting of Shareholders on May 8, 2026, a dividend of EUR 0.85 per common share was paid in cash or shares at the election of the shareholder, with 43.8% paid in cash.

Further information: conference call, video webcast and website

Roy Jakobs, CEO, and Charlotte Hanneman, CFO, will host a conference call for investors and analysts at 08:00 am CET on July 28, 2026, to discuss the results. A live webcast of the conference call will be available on the Philips Investor Relations webpage and can be accessed here. A replay and related materials, which include additional information, including forward-looking statements and further information on our outlook, will be available on the Philips Investor Relations webpage.

Click here to view the release online

  

For further information, please contact:

Michael Fuchs

Philips Global External Relations

Tel.: +31 6 1486 9261

E-mail: michael.fuchs@philips.com

Dorin Danu

Philips Investor Relations

Tel.: +31 20 59 77055

E-mail: dorin.danu@philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in image-guided therapy, diagnostic imaging, ultrasound, monitoring, enterprise informatics and personal health. Philips generated 2025 sales of approximately EUR 18 billion and employs approximately 63,700 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

Forward-looking statements and other important information

Forward-looking statements

This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future Adjusted EBITA*, future restructuring and acquisition-related charges and other costs, future developments in Philips' organic business and the completion of acquisitions and divestments. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements.

These factors include, but are not limited to, macro-economic and geopolitical changes - including the war in Ukraine and ongoing tensions in the Middle East ? as well as measures such as enacted and proposed tariffs and trade actions introduced in response to rising global tensions; Philips' ability to keep pace with the changing health technology environment; Philips' ability to gain leadership in artificial intelligence and health informatics in response to developments in the health technology industry; integration of acquisitions and their delivery on business plans and value creation expectations; ability to meet expectations with respect to ESG-related matters; securing and maintaining Philips' intellectual property rights, and unauthorized use of third-party intellectual property rights; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations; the resilience of our supply chain; challenges in simplifying our organization and our ways of working; attracting and retaining personnel; breach of cybersecurity; challenges in driving operational excellence and speed in bringing innovations to market; treasury and financing risks; tax risks; reliability of internal controls; compliance with regulations and standards involving quality, product safety, (cyber) security and artificial intelligence; and compliance with business conduct rules and regulations including privacy, existing and upcoming ESG disclosure and due diligence requirements. As a result, Philips' actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Further information chapter included in the Annual Report 2025.

Third-party market share data

Statements regarding market share contained in this document, including those regarding Philips' competitive position, are based on outside sources such as specialized research institutes, as well as industry and dealer panels, in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management's estimates of rankings are based on order intake or sales, depending on the business.

Market Abuse Regulation

This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Use of non-IFRS information

In presenting and discussing the Philips Group's financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2025.

Presentation

All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2025. Certain prior-year balances have been reclassified to conform to the current period presentation.

*) Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information.