SOMFY // 2022 Annual Report

02 MANAGEMENT REPORT

SEGMENT REPORTING AT 31 DECEMBER 2022

North & West South & East Intra-regional eliminations

Consolidated

€ thousands

1,531,947

Segment sales

593,366

1,276,477 -336,073

-337,897 337,897

-

Intra-segment sales

-1,824

1,531,947

Segment sales - Contribution to sales Segment current operating result

591,543 88,676

940,404 189,388 24,659 227,070 99,657 189,064 459,250 193,142

- - - - - - - -

278,064 24,659 285,232 107,330 191,686 497,474 193,142

Share of net profit/(loss) from associates and joint ventures

-

Cash flow

58,162

Net investments in intangible assets and PPE (including IFRS 16)

7,674 2,622

Goodwill

Net intangible assets and PPE

38,224

Investments in associates and joint ventures

-

SOMFY has adjusted its North & West and South & East sales figures to reflect the effects of hyperinflation in Argentina and Turkey by -€0.04 million and +€0.29 million respectively (see note 2.2.2 to theconsolidated financial statements).

STOCK MARKET PERFORMANCE

During the 2022 financial year, the SOMFY SA share price decreased by 18.8%. At 31 December 2021, the last trading day representing the closing day of the previous financial year, the share was worth €176.20 and was listed at €143 on 30 December 2022, representing the price proposed by the initiators of the Simplified Public Tender Offer for SOMFY shares (see Highlights). Over the same period the CAC 40 and SBF 120 indexes decreased by 9.5% and 10.3% respectively. SOMFY joined the SBF 120 index on 16 September 2022 and exited it on 9 February 2023 when its shares were delisted from Euronext Paris following the implementation of the squeeze-out (see Post-balance sheet events). Trading in the SOMFY share was suspended on 13 January 2023 after the Simplified Public Tender Offer ended and did not resume before its delisting. In 2022, the market for the share recorded a monthly trading volume high of 935,870 and low of 130,282, with a monthly average of 337,546 shares, compared with 182,909 shares the previous year.

POST-BALANCE SHEET EVENTS

SIMPLIFIED PUBLIC TENDER OFFER AND SQUEEZE-OUT —

As noted under Highlights, the Simplified Public Tender Offer ended on 12 January 2023 and a total of 5,020,213 shares were tendered during the Offer period, with the result that the Despature family group held 87.47% of SOMFY’s share capital and 92.06% of its voting rights following the Offer. Since those shares not tendered to the Offer accounted for less than 10% of the share capital and voting rights, the Despature family group decided on 30 January 2023 to conduct a squeeze-out of SOMFY shares not tendered to the Offer at a price of €143 per share. The squeeze-out and the delisting of SOMFY sharesfrom the Euronext Paris market took effect on 9 February 2023. EXTENSION OF SYNDICATE AND REVOLVING CREDIT FACILITY — As noted under Highlights, the extension of the syndicate is currently being set up and should be finalised in the first half-year of 2023 to include new partners and increase the amount of the revolving credit facility by €50 million.

OUTLOOK

Following the Simplified Public Tender Offer initiated by the Despature family group, the implementation of the squeeze-out and the delisting of SOMFY shares from the regulated Euronext Paris market tookplace on 9 February 2023. This transaction does not call into question the Group’s strategic plan, and it continued rolling out its roadmap while remaining vigilant to the still very uncertain macro-economic and geopolitical environment against the backdrop of the global economic slowdown.

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SOMFY – ANNUAL REPORT 2022