Exor Press Release - H1 2026 Results

• Portfolio simplification continued
  • Iveco Group completed the sale of its defence business to Leonardo, Tata Motors launched its tender offer for Iveco Group, with closing expected in November 2026
  • Exor also completed the divestments in GEDI, Lifenet and NUO and reached an agreement to sell its stake in Welltec. The Welltec deal will return a MOIC of approximately 2.4x and bring Exor's deployable cash to around €4 billion
• NAV per share declined 3.9% in the first half of 2026, compared with an 11.8% increase in the MSCI World Index
• Exor intends to launch a share buyback program of up to €500 million, to be executed on the market until its next financial results in March 2027

"The reshaping of our portfolio has continued. We are pleased with this year's divestments and the returns they have delivered, and equally pleased to have found good homes for these companies with owners who can take them forward into their next phase of growth," Exor CEO John Elkann said. "Our shares meanwhile continue to trade at a substantial discount to NAV and, in addition, don't reflect our assessment of the intrinsic value of our portfolio. As share purchases are a crucial part of our capital allocation strategy, we are launching a buyback program of up to €500 million,” he said.

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ABOUT EXOR

Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Philips, CNH and Stellantis.

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• Exor Press Release - 1H2026 Results

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