NewPrinces (NWL) Acquisition Presentation summary

Transaction overview and strategic rationale

• Completed acquisition of 100% of Carrefour Italia and subsidiaries, making the group the largest F&B employer in Italy and one of the largest in Europe.

• EU Commission approved the transaction, confirming compatibility with the internal market.

• Strategic focus: integrated group with retail and related services, while manufacturing remains with Princes Group plc.

• Target revenue €3.7bn and run-rate adjusted EBITDA €151m for acquired assets.

Market positioning and scale

• Combined revenues projected at €6.7bn and EBITDA at €400m, with net cash between €150m and €200m (ex. IFRS 16).

• Over 1,000 points of sale in Italy, supported by logistics centers and gas stations.

• Workforce includes about 13,000 direct employees in Italy and over 18,000 worldwide.

• Asset value estimated at €420m.

• Second largest F&B group in Italy by revenue.

Acquisition perimeter and integration

• Acquisition includes Carrefour Italia S.p.A. (renamed Princes Retail S.p.A.), Carrefour Finance srl (renamed Princes Finance S.p.A.), GS S.p.A., and Carrefour Property srl (renamed Princes Property S.p.A.).