Azimut S p A : Consolidated interim financial report at 30 September 2022

AZIMUT HOLDING SpA

Consolidated interim financial report at

30 September 2022

Contents

Company bodies	3
Azimut Group's highlights and indicators	4
Management report	7
Consolidated financial statements	27
Basis of preparation	37
Statement pursuant to article 154-bis, paragraph 2 of the Consolidated Law on	55
Finance

Consolidated interim financial report at 30 September 2022	2

Company bodies

Board of Directors

Pietro Giuliani	Chairman
Gabriele Blei	Chief Executive Officer
Massimo Guiati	Chief Executive Officer
Paolo Martini	Chief Executive Officer
Giorgio Medda	Chief Executive Officer
Alessandro Zambotti	Chief Executive Officer
Michela Morando (*)	Director
Elisabetta Castellazzi (*)	Director
Anna Maria Bortolotti	Director
Fiorenza Dalla Rizza	Director
Marcello Foa	Director
Silvia Priori	Director
Vittoria Scandroglio	Director
Costanza Bonelli	Director
Nicola Colavito	Director
Marco Galbiati	Director
Board of Statutory Auditors
Marco Lori	Chairman
Stefano Fiorini	Standing auditor
Maria Catalano	Standing auditor
Chiara Segala	Alternate auditor
Francesca Asquasciati	Alternate auditor

(*) in office for one year (2022)

Consolidated interim financial report at 30 September 2022	3

Azimut Group's highlights and indicators

Azimut Group's structure at 30 September 2022

Company figures updated to 30/09/2022

Note (1): controls the distribution companies M&O Consultoria and Azimut Brasil Wealth Management.

Note (2): controls AZ Sinopro Insurance Planning.

Note (3): 30% held by Azimut Capital Management SGR S.p.A. and 19% by Azimut Financial Insurance S.p.A., both owned by Azimut Holding S.p.A..

Note (4): controlled by AZ Mexico Holdings

Consolidated interim financial report at 30 September 2022	4

Azimut Group-Highlights at 30 September 2022

	1989		Year of incorporation		2004		Year of flotation
	83.7 billion		Total assets		18 countries		Geographical coverage
	6 billion		Inflows for the first nine months of		1,866		Financial advisors
		2022
	969 million		Revenues for the first nine months of		302 million		Net profit for the first nine months of
		2022			2022
	1,450		Employees		14.70		Share price

Azimut Group-Indicators

	Financial indicators			01/01/2022-		01/01/2021-		Change		2021
	(millions of euro)			30/09/2022		30/09/2021		Absolute		%
Total income:	969	866		103	12%		1,449
	- of which fixed management fees			826		706		120		17%		966
EBIT	415	353		62	18%		707
	Net profit for the period			302		322		-20		-6%		605
	Net inflows			6.0		15.3		-9.3		-61%		18.7
(billions of euro)

Operating indicators	30/09/2022	30/06/2022	31/12/2021	30/09/2021
Financial advisors	1,866	1,863	1,840	1,852
AUM, net (billions of euro)	53.9	52.1	54.1	52.4

Consolidated interim financial report at 30 September 2022	5