Dutasteride

The MHRA has updated its safety advice for finasteride and dutasteride. Credit: Pexels/Pixabay MHRA updates guidance on the risks of depression and sexual dysfunction for patients using finasteride or dutasteride for hair loss and prostate disorders The Medicines and Healthcare products Regulatory Agency (MHRA) has announced updated safety advice to strengthen warnings regarding potential psychiatric and sexual dysfunction associated with finasteride. The regulatory body has also introduced precautionary advice for dutasteride, a similar medication in the same drug class. This move follows an additional, detailed review of available evidence, which included the results of a European regulatory review under Article 31 and expert advice provided by the Commission on Human Medicines. As a result, the MHRA has published a new Drug Safety Update and is currently revising the product information for medicines containing these active ingredients to ensure healthcare professionals and patients receive clearer guidance. Finasteride is primarily used in two different capacities, depending on the dosage. At a 1mg dose, it is prescribed to treat androgenetic alopecia, commonly known as male pattern hair loss. At a higher 5mg dose, it is used to manage benign prostatic hyperplasia (prostate enlargement). Dutasteride, administered at a 0.5mg dose, is also used to treat benign prostatic hyperplasia. Updated product information and warnings The latest updates involve significant changes to the product information for these treatments. For finasteride 1mg used for hair loss, the warnings have been strengthened to clarify that sexual dysfunction may contribute to the development of mood disorders. Furthermore, the update specifies that sexual dysfunction has been reported in patients both with and without accompanying mood alterations. While the primary focus of recent evidence has been on finasteride, the MHRA has also taken a proactive approach to dutasteride. A precautionary warning has been added to the product information for dutasteride 0.5mg, noting that mood alterations have been reported with finasteride, which belongs to the same class of medication . These new measures build upon previous safety actions taken by the UK regulator. Following a safety review in 2024, the MHRA introduced patient alert cards for finasteride. These cards remain in place and are designed to highlight the risks of depression, suicidal thoughts and sexual dysfunction. They provide vital instructions to patients on what to do if they experience any of these side effects during treatment. Support for informed decision-making Dr Alison Cave, MHRA Chief Safety Officer, emphasises the importance of these updates in promoting patient safety and informed consent. She says: “The MHRA has taken significant action to raise awareness of the risks of sexual dysfunction, depression and suicidal thoughts associated with finasteride, including issuing a Drug Safety Update and introducing patient alert cards in 2024. Dr Alison Cave, MHRA Chief Safety Officer “Following an additional detailed review of the evidence, we have now strengthened product information for both finasteride 1 mg and dutasteride to provide clearer guidance on these potential risks and to support informed discussions between healthcare professionals and patients. “Patient safety is our top priority. We expect prescribers to discuss the relevant safety information with patients so they can make informed decisions about their treatment, and we continue to encourage patients and healthcare professionals to report suspected side effects through the Yellow Card scheme.” Guidance for patients and professionals The MHRA has issued clear instructions for individuals currently prescribed these medications. Patients taking finasteride who begin to experience symptoms of depression or suicidal thoughts are advised to stop their treatment immediately and seek medical advice. Additionally, any concerns regarding sexual side effects should be discussed with a healthcare professional. To support ongoing monitoring, the MHRA encourages both healthcare providers and patients to report any suspected adverse reactions. These reports can be submitted through the Yellow Card scheme, the UK's primary system for collecting and monitoring information on suspected safety concerns involving medicines and medical devices.

Consolidated net revenue of € 713.4 million in the first quarter of 2026, +4.9% or +8.7% on a like-for-like basis (3) at constant exchange rates (CER); adverse FX impact of € 29.1 million (-4.3%) EBITDA (1) of € 283.6 million, +5.0%, margin on net revenue of 39.7% Adjusted net income (2) of € 188.1 million, +7.2%, margin on net revenue of 26.4% Net income of € 153.1 million, +22.4% Free cash flow (4) of € 92.1 million, -€ 66.7 million vs prior year Net debt (5) at € 1,985.2 million, just below 2.0x EBITDA FY 2026 financial targets confirmed Primary endpoint met in pasireotide (Signifor ® ) Phase 2 trial for the treatment of post-bariatric hypoglycemia (PBH); FDA meeting scheduled to discuss next steps Sutimlimab (Enjaymo ® ) to advance into a Phase 3 trial for the treatment of chronic immune thrombocytopenia (ITP) Performance share plan 2023-2025: assessment of the level of achievement of the performance targets for the first cycle (2023 grant) Performance share plan 2026-2028: assignment of rights provided under the first cycle (subject to certain conditions) Milan, 12 th May 2026 – The Board of Directors of Recordati S.p.A. approved the Group’s Interim Report as of 31 st March 2026, representing additional voluntary financial reporting ( 6 ) . The report was prepared using the assessment, measurement and recognition criteria prescribed by international accounting standards (IFRS). The financial statements as of 31 st March 2026 will be available by 15 th May 2026 at the company’s offices and on the company’s website ( ) and can also be viewed on the authorised storage system 1Info ( ). Rob Koremans, Chief Executive Officer of Recordati, commented: “Recordati has delivered a strong start to the year, driven by excellent momentum in Rare Diseases and resilient in-market growth of the Specialty & Primary Care promoted portfolio. We are pleased to report further progress in advancing our R&D pipeline. We see significant opportunity for pasireotide in PBH following positive Phase 2 results and are progressing sutimlimab into a Phase 3 study in ITP. Isturisa ® continues to perform very well, with ongoing expansion in the U.S. across both overt and non-overt Cushing’s syndrome populations. Overall, we remain well positioned to deliver on our strategic and financial objectives for 2026 and beyond.” Q1 2026 Financial highlights Consolidated net revenue for the first quarter of 2026 was € 713.4 million, up 4.9% or 8.7% on a like-for-like ( 3) basis at CER (+7.9% excluding Türkiye) versus the first quarter of 2025. This was driven, in particular, by the strong momentum from the Rare Diseases business. The adverse FX impact for the first quarter of 2026 was € 29.1 million (-4.3%), mainly driven by the U.S. dollar and Turkish lira devaluation. Rare Diseases revenue was € 292.4 million for the first quarter of 2026, up 14.8%, or 22.4% at CER as compared to the first quarter of 2025, driven by strong volume growth across the Endocrinology and Hemo-Oncology franchises. The Endocrinology franchise achieved net revenue of € 120.7 million, an increase of 38.1%, reflecting continued growth of Isturisa ® (€ 86.3 million, +56.8%), driven mostly by strong new patient uptake across geographies, particularly in the U.S., and growth of Signifor ® (€ 34.4 million, +6.3%). The Hema-Oncology franchise achieved net revenue of € 113.2 million, growing by 18.2%, reflecting the strong momentum of Enjaymo ® across geographies (€ 43.9 million, +37.6%) and Qarziba ® (€ 42.9 million, +13.9%), as well as growth of Sylvant ® (€ 22.8, million +1.8%). The Metabolic franchise achieved net revenue of € 58.5 million, a decrease of 18.3%, reflecting phasing of Carbaglu ® across geographies and slightly lower demand of Panhematin ® in the U.S. against a strong performance in the first quarter of 2025. Specialty & Primary Care revenue was € 404.4 million for the first quarter of 2026, down 1.0% or up 0.2% on a like-for-like basis (3) at CER as compared to the first quarter of 2025 ( 7 ) , reflecting continued in-market growth of the promoted portfolio (+5% (8) ) and some expected one-off headwinds. In particular, the Cardiovascular franchise achieved net revenue of € 113.7 million, an increase of 1.5%, and the Gastrointestinal franchise achieved net revenue of € 69.4 million, an increase of 2.1%, with continued good in-market performance of key products in both therapeutic areas. The Urology franchise achieved net revenue of € 104.4 million, a decrease of 4.3%, due to a high prior-year base following a product relaunch in Russia in 2025, and the Cough & Cold franchise achieved net revenue of € 29.6 million, a decrease of 12.8% due to a weaker season in key markets. EBITDA ( 1) was € 283.6 million for the first quarter of 2026, up 5.0% compared to the first quarter of 2025, with margin of 39.7% of net revenue. Strong revenue performance and the positive mix effect at gross profit level was partially offset by a higher level of investments to support the U.S. expansion, primarily for Isturisa ® , the continued development of Enjaymo ® , ongoing geographic expansion in Rare Diseases as well as the launch of Vazkepa ® in Specialty & Primary Care. Adjusted operating income ( 9 ) was €231.1 million in the first quarter of 2026, an increase of 5.4% versus the first quarter of 2025. This represents 32.4% of net revenue, compared with 32.2% in the prior year, supported by strong operating performance. Operating income was € 229.6 million in the first quarter of 2026, up 17.3% over the first quarter of 2025, reflecting gross margin-related non-cash charges of € 22.4 million in 2025, arising mostly from the unwind of the fair value step up of the acquired Enjaymo ® inventory. Non-recurring costs were € 1.5 million versus € 1.1 million in the first quarter of 2025. Financial expenses were € 28.9 million, down by € 2.1 million compared to the previous year. Net exchange losses over the period were € 1.9 million, slightly higher as compared to losses of € 1.8 million in the first quarter of 2025. The impact of hyperinflation was negative € 2.0 million, the same as in the first quarter of 2025. Adjusted net income (2) was € 188.1 million, 26.4% of net revenues, up by 7.2% compared to the same period of 2025, benefitting from higher adjusted operating income, lower financial expenses and a lower tax rate resulting from a positive country mix. Net income was € 153.1 million, 21.5% of net revenue, an increase of 22.4% versus the prior year, reflecting positive operating income, lower financial expenses and a lower income tax rate versus the first quarter of 2025. Free cash flow ( 4) was € 92.1 million for the first quarter of 2026, a decrease of € 66.7 million versus the first quarter of 2025, reflecting higher EBITDA which was offset by higher working capital absorption and income taxes paid. Net debt (5) as of March 31, 2026 was € 1,985.2 million, or leverage of just below 2.0x EBITDA, compared to net debt of € 2,037.3 million on December 31, 2025. Shareholders’ equity was € 2,060.3 million. Pipeline Development The Phase 2 trial evaluating pasireotide for the treatment of post-bariatric hypoglycemia met its primary endpoint with a dose-dependent and significant increase in glucose levels during a standardized meal test (p<0.02) (10) . This was associated with a lowering of level 2 and 3 hypoglycemia (not significant), particularly in patients with higher baseline hypoglycemia rates (post-hoc analysis). Recordati is scheduled to meet with the FDA to discuss potential next steps. Immune thrombocytopenia (ITP) is a rare autoimmune disease, characterized by increased platelet destruction and decreased platelet production/release. Main symptoms include an increased risk of bleeding events, fatigue, decreased quality of life, increased risk of thrombosis (increased morbidity and mortality). Refractory ITP represents a significant unmet need, with around 20-30% failing several lines of therapy. On the basis of encouraging FDA feedback as well as early encouraging clinical evidence showing that sutimlimab, by targeting the classical complement pathway, can lead to a rapid and sustained platelet response in patients refractory to multiple lines of treatment, Recordati has decided to advance sutimlimab into a pivotal registrational Phase 3 trial for the treatment of chronic ITP. The other lifecycle management programs are progressing in line with plans. Corporate Development On January 29, 2026, Recordati announced a collaboration and license agreement with Moderna to develop and commercialize worldwide mRNA-3927, an investigational product for the treatment of propionic acidemia (PA). Under the terms of the agreement, Moderna will continue to lead the development of mRNA-3927, in collaboration with Recordati, and if approved, Recordati will lead global commercialization. mRNA-3927 is a post proof-of-concept, investigational product aimed to restore propionyl-CoA carboxylase (PCC) enzyme activity in patients with propionic acidemia. If approved, this could be the first disease-modifying treatment option on the market for this severe disease. mRNA-3927 is currently being evaluated in a potential registrational clinical study. The target patient enrollment has been reached, with a potential data readout expected by the end of 2026. Business outlook The Group confirms its financial targets for full year 2026 as follows: Net revenue between € 2,730 and € 2,800 million with FX headwind of ~-3.5% EBITDA (1) between € 995 and € 1,030 million; margin of +/- 36.5% with FX headwind of ~-4.0% Adjusted net income (2) between € 655 and € 685 million; margin of +/- 24.0% The full year 2027 targets ( 1 1 ) remain unchanged, with strong organic growth complemented by bolt-on business development and M&A. Additional resolutions Performance share plan 2023-2025: assessment of the level of achievement of the performance targets for the first cycle (2023 grant) With reference to the incentive plan of Recordati S.p.A. (“ Recordati ” or the “ Company ”) named the “ 2023–2025 Performance Share Plan ” (the “ Plan ”), approved by the Shareholders’ Meeting of the Company held on 21 st April 2023, and to the related first award cycle resolved upon by the Board of Directors on 27 th June 2023, notice is hereby given that, on today’s date, the Board of Directors of the Company, acting upon the proposal of the Remuneration and Appointments Committee, to the extent within its remit, and in accordance with the provisions of the relevant rules, has assessed the level of achievement of the performance targets relating to the first cycle of the Plan. On 27 th June 2026, being the date on which the vesting period will be completed, the beneficiaries’ entitlement to receive up to a maximum aggregate number of 388,630 ordinary shares of Recordati, granted free of charge pursuant to the Plan, will vest. Such number may be reduced in accordance with the terms and conditions of the Plan, including in the event of termination of the relationship with the Recordati Group prior to such date. Within the above maximum aggregate number, the shares attributable to the Chief Executive Officer of Recordati amount to no. 30,485. For further information on the Plan (12) , reference should be made to the relevant Information Document, which is available on the Company’s website in the “Governance” section, under “Remunerations”. Performance share plan 2026-2028: assignment of rights provided under the first cycle (subject to certain conditions) With reference to the “2026–2028 Performance Share Plan” (the “ Plan ”) of Recordati approved by its shareholders’ meeting on 29 th April 2026, notice is hereby given that today the Board of Directors of the Company, upon proposal of the Company’s Remuneration and Nominations Committee – within the scope of its competence and in accordance with the provisions of the relevant regulations – resolved to grant to the beneficiaries of the Plan a total of no. 528,913 rights (the “ Rights ”) to receive ordinary shares of the Company, which fall within the first allocation cycle of the Plan. The Chief Executive Officer of Recordati has been assigned no. 24,251 Rights. The grant of the Rights will cease to have any effect in case the potential voluntary tender offer on all ordinary shares of the Company aimed at its delisting - communicated on 25 March 2026 (13) by CVC to the Company by means of a conditional non-binding indication of interest - is launched and the delisting is completed by the date of the Annual General Meeting approving the 2026 financial statements. For further information on the Plan (1 2 ) , reference should be made to the relevant Information Document, which is available on the Company’s website in the “Governance” section, under “Remunerations”. (1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS . (2) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3, monetary net gains/losses from hyperinflation (IAS 29), net of tax effects . (3) Proforma growth calculated excluding revenue of Vazkepa® for Q1 2026 and Cardicor ® for Q1 2025 and Q1 2026 (Specialty & Primary Care) . (4) Total cash flow excluding financing items, milestones, dividends, purchases of treasury shares net of proceeds from exercise of stock options. (5) Cash and cash equivalents, less bank debts and loans, which include the measurement at fair value of hedging derivatives. ( 6 ) Italian Legislative Decree 25/2016, which implements Directive 2013/50/EU, no longer stipulates the submission of an interim management report, which was previously required in terms of paragraph 5 of Art. 154-ter of Legislative Decree 58/1998 (7) The 2025 figures have been restated to reflect the reclassification of certain brands from Other Therapeutic a reas to Cardiovascular and Gastrointestinal areas in 2026. The amount of reclassification for Q1 2025 is as follows: €2.5 million from Other Therap eu tic a reas to Cardiovascular and €4.4 million from Other Therapeutic a reas to Gastrointestinal . (8) IQVIA Feb RQ -2026 vs Feb RQ -2025 . ( 9 ) Net income before income taxes, financial income and expenses and non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3. (10) p=0.0106 (50 µg s.c. pasireotide vs placebo); p=0.0010 (100 µg s.c. pasireotide vs. placebo); p< 0.0001 (200 µg s.c. pasireotide vs placebo) . (1 1 ) FY 2027 targets: Net Revenue €3,000 - €3,200 million, EBITDA €1,140 - €1,225 million, Adjusted Net Income €770- €820 million, excluding potential impact from tariffs and/or most favored nation pricing policies in the U.S. (12) Table no. 1 referred to in paragraph 4.24 of Annex 3A, Form 7, to the Issuers’ Regulation no. 11971/1999, will be published in the manner and within the timeframe set out in Article 84-bis, paragraph 5, letter a), of the same Issuers’ Regulation. (13) Please refer to the press release issued by the Company on this regard on 26th March 2026. Conference Call Recordati will host a conference call on May 13 th , at 2:00 p.m. CET ( 1:00 p.m. GMT+1 ) to present the results for the first quarter of 2026. Please find the pre-registration link here with all the dial-in details and a calendar invitation to follow. Alternatively, if not pre-registered, the dial-in numbers for the conference call are: Italy + 39 02 802 09 11, toll free 800 231 525 UK + 44 1 212818004, toll free (44) 0 800 0156371 USA +1 718 7058796, toll free (1) 1 855 2656958 France +33 1 70918704 Germany +49 6917415712 Participants are invited to dial in 10 minutes before the start of the conference call. If operator assistance is required to connect, please dial *0. The slides that will be referenced during the call will be available at under Investors/Company Presentations. Recordati is an international pharmaceutical Group listed on the Italian Stock Exchange (XMIL: REC), with roots dating back to a family-run pharmacy in Northern Italy in the 1920s. We are uniquely structured to provide treatments across specialty and primary care and rare diseases. Our fully integrated operations span clinical development, manufacturing of active ingredients and finished products, commerciali z ation and licensing. We operate in approximately 150 countries across EMEA, the Americas and APAC , with around 4, 700 employees. We believe that health is a fundamental right, not a privilege. Today, our purpose “Unlocking the full potential of life” aims to empower individuals to live life to the fullest, from common conditions to the rarest. Investor Relations Eugenia Litz Eugenia.Litz@recordati.com Gianluca Saletta saletta.g@recordati.it Media Relations Laura Conti conti.l@recordati.it Rebecca Kerr rebecca.kerr@recordati.com This document contains forward-looking statements relating to future events and future operating, economic and financial results of the Recordati group. By their nature, forward-looking statements involve risk and uncertainty because they depend on the occurrence of future events and circumstances. Actual results may therefore differ materially from those forecast for a variety of reasons, most of which are beyond the Recordati group ’ s control. The information on the pharmaceutical specialties and other products of the Recordati group contained in this document is intended solely as information on the activities of the Recordati Group, and, as such, it is not intended as a medical scientific indication or recommendation, or as advertising . MAIN PRODUCTS NET REVENUE (€ thousands) First quarter 2026 First quarter 2025 Change % Specialty & Primary Care 404,387 408,638 (1.0) Zanidip ® (lercanidipine) and Zanipress ® (lercanidipine+enalapril) 1 53,702 57,737 (7.0) Eligard ® (leuprorelin acetate) 33,604 33,038 1.7 Avodart ® (dutasteride) and Combodart ® /Duodart ® (dutasteride/tamsulosin) 2 26,455 24,529 7.9 Seloken ® /Seloken ® ZOK/Logimax ® (metoprolol/metoprolol+felodipine) 26,426 28,233 (6.4) Urorec ® (silodosin) 21,921 23,065 (5.0) Livazo ® (pitavastatin) 17,830 14,901 19.7 Vazkepa ® (ethyl-icosapent) 5,182 - n.a. Rare Diseases 292,419 254,808 14.8 Isturisa ® (osilodrostat) 86,233 55,009 56.8 Signifor ® / Signifor LAR (pasireotide) 34,442 32,399 6.3 Enjaymo ® (sutimlimab) 43,910 31,913 37.6 Qarziba ® (dinutuximab beta) 42,863 37,644 13.9 Sylvant ® (siltuximab) 22,790 22,393 1.8 (1) of which Zanidip ® € 45.3 million in Q1 2026 and € 50.0 million in Q1 2025 ( 2 ) Trademarks are owned by or licensed to the GSK group of companies RECORDATI GROUP Summary of the consolidated results, prepared in accordance with International Financial Reporting Standards (IFRS) (€ thousands) INCOME STATEMENT First quarter 2026 First quarter 2025 Change % NET REVENUE 713,424 679,960 4.9 Cost of sales (202,598) (221,188) (8.4) GROSS PROFIT 510,826 458,772 11.3 Selling expenses (147,827) (139,742) 5.8 Research and development expenses (86,337) (80,117) 7.8 General and administrative expenses (44,934) (41,648) 7.9 Other income/(expenses), net (2,125) (1,499) 41.8 OPERATING INCOME 229,603 195,766 17.3 Financial income/(expenses), net (28,852) (30,906) (6.6) PRE-TAX INCOME 200,751 164,860 21.8 Income taxes (47,690) (39,819) 19.8 NET INCOME 153,061 125,041 22.4 Adjusted gross profit (1) 510,826 481,165 6.2 Adjusted operating income (2) 231,113 219,236 5.4 Adjusted net income (3) 188,139 175,464 7.2 EBITDA (4) 283,575 270,158 5.0 Net income attributable to: Equity holders of the Parent 153,061 125,041 22.4 Non-controlling interests 0 0 n.s. EARNINGS PER SHARE (euro) Basic (5) 0.750 0.606 23.8 Diluted (6) 0.732 0.598 22.4 (1) Gross profit adjusted from impact of non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 . (2) Net income before income taxes, financial income and expenses, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 . (3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 , monetary net gains/losses from hyperinflation (IAS 29), net of tax effects. (4) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 . (5 ) Earnings per share (EPS) are based on average shares outstanding during the respective period, 20 4 . 07 3 . 709 in 202 6 and 20 6 . 355 . 324 in 202 5 . These amounts are calculated deducting treasury shares in the portfolio, the average of which was 5 . 538 . 003 shares in 202 6 and 3. 041 . 684 shares in 202 5 . (6) Diluted earnings per share is calculated by taking into account rights granted to employees. COMPOSITION OF NET REVENUE First quarter 2026 First quarter 2025 Change % Total revenue 713,424 679,960 4.9 Italy 96,750 95,960 0.8 International 616,674 584,000 5.6 RECORDATI GROUP (€ thousands) Reconciliation of Net income to EBITDA (1) First quarter 2026 First quarter 2025 Net income 153,061 125,041 Income taxes 47,690 39,819 Financial income/(expenses), net 28,852 30,906 Non-recurring expenses 1,510 1,077 Non-cash charges from PPA inventory uplift 0 22,393 Adjusted operating income (2) 231,113 219,236 Depreciation, amortization and write-downs 52,462 50,922 EBITDA (1) 283,575 270,158 Reconciliation of Net income to Adjusted Net income (3) First quarter 2026 First quarter 2025 Net income 153,061 125,041 Amortization and write-downs of intangible assets (excluding software) 41,566 40,988 Tax effect (9,607) (9,692) Non-recurring operating expenses 1,510 1,077 Tax effect (386) (286) Non-cash charges from PPA inventory uplift 0 22,393 Tax effect 0 (5,599) Monetary net (gain)/losses from hyperinflation (IAS29) 1,995 2,029 Tax effect 0 (487) Non-recurring tax (income)/expense, net 0 0 Adjusted net income (3) 188,139 175,464 (1) Net income before income taxes, financial income and expenses, depreciation, amortization and write-downs of property, plant and equipment, intangible assets and goodwill, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 . (2) Net income before income taxes, financial income and expenses, non-recurring items and non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 . (3) Net income excluding amortization and write-downs of intangible assets (except software) and goodwill, non-recurring items, non-cash charges arising from the allocation of the purchase price of acquisitions to the gross margin of acquired inventory as foreseen by IFRS 3 , monetary net gains/losses from hyperinflation (IAS 29), net of tax effects. RECORDATI GROUP Summary of the consolidated results, prepared in accordance with International Financial Reporting Standards (IFRS) (€ thousands) ASSETS 31.03.2026 31.12.2025 Property, plant and equipment 229,165 222,324 Intangible assets 2,406,550 2,393,448 Goodwill 802,801 795,680 Other equity investments and securities 14,497 16,244 Other non-current assets 10,685 10,259 Deferred tax assets 142,657 136,415 TOTAL NON-CURRRENT ASSETS 3,606,355 3,574,370 Inventories 545,822 539,804 Trade receivables 659,052 570,154 Other receivables 105,676 106,458 Other current assets 29,747 24,591 Derivative instruments measured at fair value 7,423 8,074 Cash and cash equivalents 380,466 428,824 TOTAL CURRENT ASSETS 1,728,186 1,677,905 TOTAL ASSETS 5,334,541 5,252,275 RECORDATI GROUP Summary of the consolidated results, prepared in accordance with International Financial Reporting Standards (IFRS) (€ thousands) EQUITY AND LIABILITIES 31.03.2026 31.12.2025 Share capital 26,141 26,141 Share premium reserve 83,719 83,719 Treasury shares (282,983) (239,379) Reserve for derivative instruments 3,258 (17) Translation reserve (340,729) (348,362) Other reserves 76,777 73,822 Profits carried forward 2,469,827 2,009,007 Net income 153,061 443,624 Interim dividend (128,783) (128,783) Shareholders’ equity attributable to equity holders of the Parent 2,060,288 1,919,772 Shareholders’ equity attributable to non-controlling interests 0 0 TOTAL SHAREHOLDERS’ EQUITY 2,060,288 1,919,772 Loans - due after one year 1,757,101 2,130,296 Provisions for employee benefits 20,614 19,838 Deferred tax liabilities 128,347 129,687 TOTAL NON-CURRENT LIABILITIES 1,906,062 2,279,821 Trade payables 306,896 345,183 Other payables 308,018 257,244 Tax liabilities 116,498 80,572 Other current liabilities 1,685 8,479 Provisions for risks and charges 20,114 19,152 Derivative instruments measured at fair value 5,120 4,862 Loans - due within one year 593,303 313,341 Short-term debts to banks and other lenders 16,557 23,849 TOTAL CURRENT LIABILITIES 1,368,191 1,052,682 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 5,334,541 5,252,275 RECORDATI GROUP Summary of consolidated results prepared in accordance with International Financial Reporting Standards (IFRS) (€ thousands) CASH FLOW STATEMENT First quarter 2026 First quarter 2025 OPERATING ACTIVITIES Net income 153,061 125,041 Income taxes 47,691 39,819 Net interest 22,459 25,370 Depreciation of property, plant and equipment 9,483 8,885 Amortization of intangible assets 42,979 42,037 Write-downs 0 0 Equity-settled share-based payment transactions 4,760 3,981 Other non-monetary components 7,488 28,594 Change in other assets and other liabilities (4,712) (12,745) Cash flow generated/(used) by operating activities before change in working capital 283,209 260,982 Change in: - inventories 1,224 (11,992) - trade receivables (93,277) (79,420) - trade payables (36,307) 39,141 Change in working capital (128,360) (52,271) Interest received 1,045 1,305 Interest paid (31,871) (32,878) Income taxes paid (21,153) (12,349) Cash flow generated/(used) by operating activities 102,870 164,789 INVESTMENT ACTIVITIES Investments in property, plant and equipment (11,172) (5,958) Disposals of property, plant and equipment 418 11 Investments in intangible assets (6,390) (2,574) Disposals of intangible assets 930 150 Sale of non-current assets held for sale 239 0 Acquisition of holdings in other companies 0 0 Cash flow generated/(used) by investment activities (15,975) (8,371) FINANCING ACTIVITIES Opening of loans 0 4 Repayment of loans (96,409) (117,600) Payment of lease liabilities (3,044) (3,185) Change in short-term debts to banks and other lenders 1,132 2,204 Dividends paid (214) (1,086) Purchase of treasury shares (43,952) (49,061) Sale of treasury shares 328 24,671 Cash flow generated/(used) by financing activities (142,159) (144,053) Change in cash and cash equivalents (55,264) 12,365 Opening cash and cash equivalents 428,824 322,423 Currency translation effect 6,906 (1,744) Closing cash and cash equivalents 380,466 333,044 DECLARATION BY THE FINANCIAL REPORTING OFFICER The Financial Reporting Officer, Niccolò Giovannini, declares, pursuant to paragraph 2 of Article 154- bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the Company’s documentation, books and accounting records.