Earnings release
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1 PRESS RELEASE THE BOARD OF DIRECTORS APPROVES THE CONSOLIDATED HALF-YEAR REPORT AT JUNE 30, 2026 POSITIVE PERFORMANCE CONFIRMS THE RESILIENCE AND SOLIDITY OF THE BUSINESS MODEL CONSOLIDATED REVENUE OF EURO 46.3 MILLION (+12.6% YoY) ADJ. EBITDA1 OF EURO 12.1 MILLION (+5.2% YoY), WITH ADJ. EBITDA MARGIN OF 27.4% AND EBIT MARGIN RISING TO 20.4% NET PROFIT FOR THE PERIOD UP 8.6% TO EURO 4.6 MILLION ▪ Consolidated revenue of Euro 46.3 million, up 12.6% from Euro 41.1 million in the first half of 2025; ▪ EBITDA2 of Euro 12.0 million, up by 17.8% versus Euro 10.2 million in the first half of 2025 (EBITDA margin of 27.2% vs 25.1% in the first half of 2025); Adj. EBITDA of Euro 12.1 million (Adj. EBITDA margin of 27.4%); ▪ EBIT of Euro 9.0 million, up 16.4% from Euro 7.8 million in the first half of 2025 (EBIT margin of 20.4% vs. 19.1% in the first half of 2025); ▪ Net profit of Euro 4.6 million, up 8.6% from Euro 4.2 million in the first half of 2025; ▪ The Net Financial Position at June 30, 2026 was negative (net debt) at Euro 41.9 million, compared to Euro 38.3 million at December 31, 2025 following the payment of dividends totalling Euro 10.0 million on June 24, 2026 (Adj . Net Financial Position3 at June 30, 2025, was Euro 46.9 million). Scandicci (Florence), September 24, 2026 – Powersoft S.p.A. (" Powersoft"), which heads a technology group (the "Powersoft Group") operating worldwide in pro-Audio systems and listed on Euronext Growth Milan, today approved the consolidated half -year report at June 30, 2026, prepared in accordance with the International Financial Reporting Standards ("IAS/IFRS") and subject to a limited audit. Powersoft Group CEO, Luca Lastrucci, commented: “In the first half of 2026, we operated in an international context that remained challenging, marked by geopolitical tensions, cost pressures and a less dynamic performance in some markets. In this scenario, Powersoft has demonstrated resilience, achieving growth and continuing its evolution from Product Company to Solution Provider. We look to the coming months with a moderately positive outlook, continuing to work on the 1 The ADJ EBITDA has been adjusted for extraordinary charges and for those arising from the Purchase Price Allocation process related to the acquisition of K-array. 2 EBITDA is defined by Powersoft as Earnings Before Tax (EBT), as indicated in the consolidated statement of profit/(loss), gross of: (i) financial income and charges, (ii) amortization of intangible fixed assets, (iii) depreciation of tangible fixed assets, and (iv) allocations. Since EBITDA is not identified as an accounting measure under the IAS-IFRS adopted by the Company, its quantification may not be straightforward. 3 The Net Financial Position at June 30, 2025 has been restated to take account of the final effects of the Purchase Price Allocation process related to the acquisition of K-array.
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2 integration of K -array and on revenue and cost synergies, as well as on the development of new markets and products, some of which have already been successfully launched. Also in the field of R&D, we continue to reaffirm our commitment and focus on dedicated investments that we consider strategic for continuing to innovate, ensuring standards of technological excellence and maintaining our competitiveness in an increasingly challenging international market”. Results at June 30, 2026 Group income statement The consolidated figures at June 30, 2026, set out below, include the consolidation of the Parent Company Powersoft and the subsidiaries Powersoft USA and Ideofarm, all of which are 100% owned, and K-array, 51% owned following its acquisition on April 1, 2025. The comparative figures at June 30, 2025 include the consolidation of K -array for three months (April 1 – June 30) and are restated to reflect the final allocation resulting from the Purchase Price Allocation process. The Group closed the first half of 2026 with a positive performance in terms of both consolidate revenue growth and gross operating profit, achieving total revenue of Euro 46.3 million, an Adj. EBITDA margin (calculated net of extraordinary costs related t o the acquisition) of 27.4%, maintaining excellent levels despite a very challenging market context, and net profit of Euro 4.6 million, up from Euro 4.2 million in the first half of 2025. (values in Euro thousands) 30/06/2026 30/06/2025* Change Change % Total revenue 46,272 41,082 5,191 12.6% EBITDA 12,016 10,200 1,815 17.8% Adjusted EBITDA 12,108 11,507 601 5.2% EBIT 9,041 7,766 1,276 16.4% Total net result 4,589 4,224 365 8.6% * restated to take account of the final effects of the K-array Purchase Price Allocation Total consolidated revenue in the first half of 2026 amounted to Euro 46.3 million, up 12.6% from Euro 41.1 million in the first half of 2025. The table below shows the breakdown by geographical area of revenue from contracts with Group customers achieved in the first half of 2026 and compared to the same figure of 2025: (values in Euro thousands) 30/06/2026 Impact on revenue 30/06/2025 Impact on revenue Change Change % Europe 15,936 36.0% 15,790 38.8% 146 0.9% North America 19,513 44.1% 17,204 42.3% 2,309 13.4% Asia-Pacific 6,258 14.1% 5,165 12.7% 1,093 21.2% Middle East & Africa 1,897 4.3% 1,231 3.0% 666 54.1% Central and Latin America 626 1.4% 1,261 3.1% -635 -50.4% Revenue from sales 44,230 100.0% 40,651 100.0% 3,579 8.8% The cost of sales totalled Euro 21.1 million, up by 5.4% compared to the first half of 2025, and with a revenue margin that went from 49.1% to 47.6%. It should be noted that the cost of sales at June 30, 2025 was restated both to reflect the effects of the reversal of the inventory margin arising from
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3 the final allocation under the Purchase Price Allocation for Euro 1.0 million, and for a more appropriate classification of personnel costs supporting the production department for Euro 0.5 million. The change recorded during the period is mainly attributable to: (i) the accounting effect of the suspension of the intercompany margin linked to the increase in inventories at the subsidiary compared with the previous year-end; (ii) the reduction in the proportion of revenue from services relative to total revenue. This change was partially offset by the sale of a more favourable product mix in the reporting period. Consolidated EBITDA totalled Euro 12.0 million, an increase of 17.8%, and with a revenue margin of 27.2%, compared to Euro 10.2 million (25.1% of revenues) in the first half of 2025. During the first half of 2026, costs attributable to the operating structure, including sales and m arketing expenses as well as general and administrative expenses, amounted to Euro 14.2 million, compared to Euro 11.9 million in the previous half -year. The increase versus the previous half -year is mainly attributable to the consolidation of K-array for the entire half-year, compared with the three months included in 2025, and to the partial strengthening of the structure, in line with the Group’s growth strategy. Net of extraordinary costs related to the acquisition of K-array, Adj. EBITDA amounted to Euro 12.1 million versus Euro 11.5 million at June 30, 2025, with a revenue margin of 27.4%. Consolidated EBIT for the period amounted to Euro 9.0 million, up from Euro 7.8 million in the previous half-year, with an EBIT margin of 20.4%, an increase compared to the same period of the previous year. This improvement is mainly attributable to the non-recurring effects recorded at June 30, 2025, linked to the reversal of the inventory margin of Euro 1.0 million arising from the Purchase Price Allocation process. Financials closed with a negative Euro 2.0 million versus a negative Euro 1.5 million in the first half of 2025. This trend is mainly attributable to: (i) dividends paid to minority shareholders during the half-year; (ii) financial expenses resulting from the discounting of liabilities arising from the acquisition of K -array (primarily deferred purchase price, earn -out, and put & call options); (iii) interest on the loan taken out for the acquisition. The change was partially offset by the fair value revaluation of the securities portfolio and by financial income generated by exchange rate fluctuations and foreign exchange transactions. Consolidated Net Result for the half-year ended June 30, 2026 was therefore positive at Euro 4.6 million, compared with Euro 4.2 million in the previous half-year, mainly due to the negative impact of financial management. Group statement of financial position (values in Euro thousands) 30/06/2026 31/12/2025 Change Change % Fixed assets 56,946 57,221 (275) -0.5% Net working capital 26,997 29,158 (2,162) -7.4% Net capital employed 79,203 80,936 (1,733) -2.1% Net financial position (41,889) (38,299) (3,590) 9.4% Total equity (37,314) (42,637) 5,323 -12.5% Total sources (79,203) (80,936) 1,733 -2.1%
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4 Net working capital decreased by 7.4%, from Euro 29.2 million at December 31, 2025, to Euro 27.0 million. This trend mainly reflects the decrease in trade receivables and other current assets, as well as the increase in other current liabilities and trade payables, the effects of which more than offset the increase in inventories recorded during the period. The Group's net financial position at June 30, 2026 was negative (net debt) at Euro 41.9 million, compared to Euro 38.3 million at December 31, 2025. This change is mainly attributable to: (i) the distribution of dividends of Euro 10.0 million, which took place at the end of the half -year; (ii) the effect of discounting the deferred price, earn-out and put & call options for Euro 0.7 million. The net financial position at June 30, 2026 therefore comprises cash and cash equivalents of Euro 10.6 million, portfolio securities of Euro 2.0 million and financial liabilities totalling Euro 54.5 million, mainly relating to payables and liabilities arising from the acquisition and financial payables for rights of use. Consolidated equity at June 30, 2026, amounted to Euro 37.3 million compared to Euro 42.6 million at December 31, 2025, primarily as a result of the distribution of dividends totalling Euro 10.0 million. Significant events during the half-year On February 2, 2026 , Powersoft announced the launch of AnyMATE, a new proprietary communication technology integrated into its amplifiers ( patent pending), which was unveiled at Integrated Systems Europe (ISE) 2026, the world’s largest trade fair for audiovisual and systems integration. On February 4, 2026, Powersoft announced to have appointed Intermonte S IM S.p.A. as Specialist Industry Player, which took over the aforementioned role from Banca Profilo S.p.A., with effect from March 5, 2026. On February 20, 2026 , the Supreme Court of the United States issued a ruling of international significance in the field of trade policy, holding that the International Emergency Economic Powers Act (IEEPA) does not empower the President of the United States to impose customs duties. The Court, by a 6–3 vote, clarified that the power to "regulate" imports provided for by the IEEPA does not include the imposition of tariffs, which instead falls under the ordinary taxing power of the Congress. The decision resulted in the invalidation of the IEEPA duties introduced in 2025, including those relating to the so-called “Reciprocal Tariffs” and other duties linked to declared emergencies. However, the Court did not regulate the retroactive effects of the ruling or the procedures for an y refund of duties already collected, generating a framework of operational uncertainty left to the administrative authorities and to the proceedings currently pending before the Court of International Trade (CIT). Subsequently, the CIT ordered the Customs and Border Protection (CBP) to proceed with the settlement and, where applicable, the re -settlement of imports without the application of IEEPA duties, potentially extending access to refunds to all record importers, even in the absence of specific disputes. However, an appeal by the Federal Administration remains possible, as does the introduction of new tariff regimes based on different legal grounds, such as Section 122 of the Trade Act of 1974. Although at present there are no direct and measurable imp acts on procurement costs or on the commercial conditions adopted by the Group, the Management will continue to monitor the evolution of the US regulatory and jurisprudential framework, in order to promptly assess any effects on margins, the supply chain and contractual relationships with US and
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5 international industry players, as well as the possibility of obtaining refunds pursuant to the aforementioned court rulings. On March 31, 2026, Powersoft announced the signing of a new multi -year technology partnership agreement with Bose Professional, consolidating the long -term strategic relationship and the Company’s positioning as a leading technology partner for major global players in the professional audio se ctor. Under the agreement, Powersoft will, among other things, directly support Bose Professional customers by reinforcing technological continuity in installed audio systems. On April 16, 2026 , Powersoft announced that in the period between April 1, 2026, and April 15, 2026, 2,311 new ordinary shares were granted following the exercise of 2,311 options serving the “2021-2023 Incentive Plan”. On April 23, 2026 , the Company Ordinary Shareholders' Meeting was held, which approved the Powersoft S.p.A. Annual Financial Statements at December 31, 2025, the distribution of an ordinary dividend of Euro 0.78 per share and appointed the new Board of Statutory Auditors. On May 18, 2026, Powersoft announced the appointment and onboarding of two key figures in the commercial structure of its US subsidiary, Powersoft Advanced Technology Corp., confirming a strategy of continued growth and consolidation in the North American market. During the first half of 2026, the Group benefited, in several consecutive instalments, from the refund of duties paid totalling Euro 1.4 million, following the rulings and the resulting administrative measures referred to above. The amount was recognized under other operating income. Significant events after the end of the first half of 2026 On July 1, 2026, Powersoft announced a new partnership between Ideofarm and Intesa Sanpaolo. Through this initiative, Intesa Sanpaolo - reaffirming its commitment to supporting the growth and innovation of the Banca dei Territori corporate clients - partnered with Ideofarm, Powersoft’s Innovation Garage, to launch an international Call4Innovation focused on the Deep Tech & New Materials sectors. In response to the company’s stated innovation needs, the Bank engaged the specialist expertise of Intesa Sanpaolo Innovation Center to develop an open innovation program aimed at identifying emerging technologies and high -potential start-ups capable of supporting the development projects of Ideofarm and the Powersoft Group. On July 23, 2026, Powersoft announced the start of the construction phase of its new headquarters in Scandicci, marking the transition from planning to execution of a major project aimed at the growth and consolidation of the Powersoft Group. The new complex, called the Pow ersoft Human Audio Experience Center, is a hub designed to integrate research, development, production, training and experiences dedicated to the world of professional audio, and will enable most of the employees currently spread across different locations to work under one roof. The new building project will also have significant economic and social benefits for the local area, helping to strengthen the local supply chain, attract highly skilled talent and foster the growth of an ecosystem of excellence dedicated to audio technologies. This path is consistent with the strategic decisions and recent development initiatives that Powersoft has undertaken in recent years in its home region.
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6 Business outlook In the first six months of the 2026 financial year, Powersoft Group recorded a positive performance in terms of both revenue and margins, thanks to a resilient business model and despite a complex macroeconomic scenario characterized by growing geopolitica l uncertainty and global trade and financial tensions. The Pro AV market continued to grow during the half-year, albeit at a more moderate pace than in the past, with a slowdown in the United States, where persistently high inflation and economic uncertainty - combined with a highly erratic tariff policy - are prompting many companies, venues and end users to postpone investments. In this context, professional audio has proven to be one of the most resilient segments of the industry, supported by the demand for immersive solutions for live events, hospitality, entertainment, experiential retail and multifunctional spaces, as well as by the needs of the corporate, conferencing and education markets linked to the spread of hybrid working, which remain highly dynamic. Thanks to its strong commitment to innovation and its ability to integrate technologies, data and services, Powersoft stands out as a leading global group in professional audio, with technology that combines artificial intelligence, remote management and cross-platform interoperability, and is well- positioned to capitalize on the growing demand in the fastest-growing sectors, such as the live events industry. AnyMATE, the new proprietary communication technology integrated into Powersoft amplifiers, launched at Integrated Systems Europe (ISE) 2026 in Barcelona, demonstrates the Group’s ability and willingness to continue investing in innovation to generate value for the end user, optimising the entire life cycle of the audio system. Meanw hile, the multi -year renewal of the technology partnership with Bose Professional and the various partnerships signed in the marine sector confirm the Group’s positioning as a leading technology partner for major global operators. Powersoft new technologies have also been made available to K-array for the development of new products and solutions, some of which have already been successfully launched on the market. The collaboration between the respective R&D and sales teams is now underway, with the sharing of certain areas of the distribution network, as well as the development of business plans for joint action in certain strategic countries such as the United States and China. The second half of the year began with largely stable demand and, consequently, a stable order book for the Group, providing reassuring visibility for the remainder of the year and optimism for the following financial year, particularly in the entertainmen t sector and for new solutions/products aimed at target vertical segments within the install sector, assuming that market and macroeconomic conditions do not change substantially further. Filing of Documentation The documentation relating to the Consolidated Half -Year Report at June 30, 2026, as required by current legislation, will be available to the public, in accordance with the law, at the Company's HQ, and may also be consulted on the Company's website www.powersoft.com (Investor Relations section) and on the Borsa Italiana website (S tocks/Documents section), in accordance with applicable laws and regulations. ***
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7 This press release contains forward -looking statements regarding Powersoft Group's intentions, beliefs or current expectations in relation to its financial results and other aspects of its business and strategies. Readers of this press release should not unduly rely on these forward-looking statements, as the final results could differ significantly from those contained in those statements as a result of multiple factors, most of which are beyond the Group's control. This press release is available in the Investor Relations/Corporate and Financial Press Releases section of the website www.powersoft.com. ABOUT POWERSOFT: Powersoft S.p.A. is a group operating in the professional audio industry, specializing in high-efficiency amplification, signal processing and transducer technologies. Founded in 1995 in Scandicci (Florence), the Group recently strengthened its position in the sector with the acquisition of K -array, an Italian leader in innovative loudspeaker systems. The transaction highlights the commitment of Powersoft to innovation, propr ietary technological know-how and the excellence of Made in Italy. With a total workforce of over 280 employees worldwide, Powersoft Group operates in the main international markets through its US subsidiary, representative offices in Asia and an extensive network of multi-brand distributors. The R&D activities, carried out entirely in Italy, ensure continuous innovation, helping to se t new sound standards and meet the needs of a constantly evolving global market. For further information Euronext Growth Adviser Banca Finnat Euramerica S.p.A. Angelo De Marco Piazza del Gesù, 49 – Palazzo Altieri – Rome Tel. +39 06 69933215 a.demarco@finnat.it Specialist Intermonte SIM S.p.A. Galleria de Cristoforis, 7/8, 20122 Milan Tel +39 02 771151 Investor Relations Powersoft S.p.A. Massimo Ghedini Tel. +39 055 735 0230 ir@powersoft.com CDR Communication S.r.l. Vincenza Colucci Tel. +39 335 6909547 vincenza.colucci@cdr-communication.it Media Relations CDR Communication S.r.l. Stefania Trevisol Tel. +39 347 8782490 stefania.trevisol@cdr-communication.it Angelo Brunello Tel. +39 329 2117752 angelo.brunello@cdr-communication.it Eleonora Nicolini Tel. +39 333 9773749 eleonora.nicolini@cdr-communication.it
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8 ANNEXED ARE THE INCOME STATEMENT, BALANCE SHEET, CASH FLOW STATEMENT AND NET FINANCIAL POSITION OF THE POWERSOFT GROUP AT JUNE 30, 2026 INCOME STATEMENT (values in Euro thousands) 30/06/2026 Impact on revenue 30/06/2025* Impact on revenue Revenue from contracts with customers 44,230 100.0% 40,651 100.0% Other revenue 2,043 4.6% 431 1.1% Total Revenue 46,272 41,082 Cost of sales (21,060) -47.6% (19,975) -49.1% Increases for internal work 852 1.9% 871 2.1% Business and marketing expense (7,028) -15.9% (5,624) -13.8% General and administrative expense (9,994) -22.6% (8,589) -21.1% EBIT 9,041 20.4% 7,766 19.1% Financial charges (2,539) -5.7% (2,000) -4.9% Financial income 564 1.3% 493 1.2% EBT 7,067 16.0% 6,259 15.4% Income tax (2,478) -5.6% (2,035) -5.0% Net profit from continuing operations 4,589 10.4% 4,224 10.4% * restated to take account of the final effects of the K-array Purchase Price Allocation
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9 BALANCE SHEET (values in Euro thousands) 30/06/2026 31/12/2025 Change Change % Tangible fixed assets 2,321 2,176 146 6.7% Assets for rights of use 7,290 6,891 400 5.8% Intangible fixed assets 17,749 18,580 (831) -4.5% Financial fixed assets 2,703 2,692 11 0.4% Goodwill 26,883 26,883 - 0.0% Fixed assets 56,946 57,221 (275) -0.5% Inventory 25,633 23,269 2,364 10.2% Trade receivables 13,430 15,702 (2,271) -14.5% Other current assets 2,627 4,042 (1,415) -35.0% Trade payables (9,431) (9,152) (279) 3.0% Other current liabilities (5,263) (4,702) (561) 11.9% Net working capital 26,997 29,158 (2,162) -7.4% Other non-current assets (liabilities) (4,740) (5,443) 703 -12.9% Net capital employed 79,203 80,936 (1,733) -2.1% Cash and cash equivalents 10,573 16,994 (6,421) -37.8% Financial assets 2,009 1,995 13 0.7% Non-current financial liabilities (40,075) (42,439) 2,365 -5.6% Non-current financial liabilities for rights of use (6,049) (5,809) (240) 4.1% Current financial liabilities (6,996) (7,875) 879 -11.2% Current financial liabilities for rights of use (1,352) (1,165) (186) 16.0% Net financial position (41,889) (38,299) (3,590) 9.4% Share capital (1,345) (1,345) () 0.0% Reserves (31,380) (31,367) (12) 0.0% Profit/ (loss) for the period (4,589) (9,925) 5,336 -53.8% Total Equity (37,314) (42,637) 5,323 -12.5% Total sources (79,203) (80,936) 1,733 -2.1%
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10 CONSOLIDATED CASH FLOW STATEMENT Cash Flow Statement - Consolidated 30/06/2026 30/06/2025* Cash Flow from Operating Activities Profit/(Loss) for the year 4,588,954 4,223,653 Adjustments to reconcile the net profit for the period to the cash flow generated by operations: Income tax 2,478,106 2,034,895 Amortization and depreciation 2,974,330 2,290,423 Allocations - - (Capital gain)/Capital loss on disposal of fixed assets - - Allocations / (Use) of provisions for employee benefits (101,089) 178,518 Allocations to / (Use) of provisions for risks and charges 234,246 142,466 Change in FV of financial assets and liabilities 416,341 83,908 Interest (income) / expense for the period 1,913,150 507,189 Other adjustments for non-monetary items 132,282 284,946 Changes in operating assets and liabilities: Inventory (2,598,173) (441,886) Trade receivables and contractual assets 2,271,133 740,768 Trade payables 278,675 (333,961) Other assets 2,201,129 151,891 Other liabilities (646,508) (69,201) Interest (paid) / collected (1,639,312) (218,740) Tax (paid) / collected (2,537,363) (3,528,993) Use of provisions for risks and charges (200,306) (296,916) Other (8,378) (342,647) Net cash flow from operating activities (A) 9,757,217 5,406,313 Cash Flow from Investment Activities (Purchases) of Property, plant and equipment (588,738) (268,666) (Purchases) of Intangible fixed assets (1,052,520) (1,142,962) Business combination net of cash acquired (2,339,342) (5,262,470) Net cash flow from investment activities (B) (3,980,601) (6,674,098) Cash Flow from Financing Activities Paid capital increases 8,999 47,584 Dividend distribution (10,020,875) - Lease refunds (628,954) (507,059) New medium/long-term loans 2,133,694 12,685,787 (Refund) of medium/long-term loans (3,690,449) (3,020,000) Net cash flow from financing activities (C) (12,197,584) 9,206,313 Total net cash flow (D=A+B+C) (6,420,968) 7,938,528 Initial net cash and cash equivalents (E) 16,994,136 7,504,326 Total net cash flow (6,420,968) 7,938,527 Final cash and cash equivalents (G=D+E) 10,573,168 15,442,854 * restated to take account of the final effects of the K-array Purchase Price Allocation
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11 CONSOLIDATED NET FINANCIAL POSITION 30/06/2026 31/12/2025 (A) Bank and postal deposits 10,570 16,993 (B) Cash 3 1 (C) IMMEDIATE LIQUIDITY (A+B) 10,573 16,994 (D) CURRENT FINANCIAL ASSETS 2,009 1,995 (E) Current bank payables (4,447) (3,788) (F) Other current financial liabilities (3,900) (5,252) (G) CURRENT FINANCIAL DEBT (E+F) (8,347) (9,040) (H) NET CURRENT FINANCIAL POSITION (C+D+G) 4,235 9,950 (I) Non-current bank payables (9,894) (10,757) (L) Other non-current financial liabilities (36,229) (37,491) (M) NON-CURRENT FINANCIAL DEBT (I+L) (46,123) (48,248) (N) NET FINANCIAL POSITION (H+M) (41,889) (38,299)