SOMFY // 2022 Annual Report

05 CONSOLIDATED FINANCIAL STATEMENTS

SOMFY SA is a French limited company with a Board of Directors ( Société Anonyme à Conseil d’Administration ), which was listed on Euronext Paris (compartmentA, Code ISIN FR0013199916)until 9 February 2023, the date on which its shares were delisted following a squeeze-out (see Post-balancesheet events). The company name did not change during the financial year. Founded in 1969 in France, and now operating in 58 countries, SOMFY is the world leader in window and door automation for homes and buildings. Pioneer in the connected home, the Group is constantly innovating to guarantee its users comfort, well-being, and security in the home and is fully committed to promoting sustainable development. For more than 50 years, SOMFY has been using automation to improve living environments and has been committed to creating reliable and sustainable solutions that promote better living and well-being for all. The registered office is located at 50, avenue du Nouveau Monde 74300 Cluses in the Haute-Savoideistrict of France. Its main establishment is in Cluses. As of 31 December 2022, SOMFY SA is a 52.85%-subsidiary of the French company J.P.J.S. Following the squeeze-out on 9 February 2023 (see Post-balance sheet events), J.P.J.S. now holds 69.99% ofthe share capital of SOMFY SA. On 7 March 2023, the Board of Directors approved the IFRS consolidated financial statements of the Group for the 12-month financial year ended 31 December 2022. Total assets were €2,045,272 thousand and consolidated net profit €238,430 thousand (Group share: €237,003 thousand). All accounting rules and methods are included in the various notes which are grouped by subject and highlighted in colour for greater readability and relevance.

ACCOUNTING PRINCIPLES NOTE 1 — CONSOLIDATED FINANCIAL STATEMENTS – NOTE 1.1 BASIS FOR PREPARATION The consolidated financial statements are presented in thousands of Euros. All amounts are rounded to the nearest thousand of Euros, unless otherwise specified. The financial statements have been prepared in accordance with the historical cost principle, except for a number of assets and liabilities that were measured at fair value, in particular in relation to derivative instruments. Consolidated financial statements include the financial statements of SOMFY SA and its subsidiaries at 31 December of each year. The financial statements of subsidiaries are prepared for the same reference period as the parent company and on the basis of standard accounting methods. The financial year-end of all companies is 31 December. In application of European regulation 1606/2002 of 19 July 2002 on international accounting standards, the Group’s consolidated financial statements for the financial year ended 31 December 2022 have been prepared in accordance with the international financial reporting standards (“IFRS”) applicable at that date, as adopted by the European Union at the date of preparation of these financial statements. The preparation of the consolidated financial statements requires Management to make a number of judgments, estimates and assumptions liable to affect the values of assets, liabilities, and income and expense items in the financial statements, and information provided in the notes to the financial statements. Due to the inherently uncertain nature of the assumptions, actual results may differ from estimates. The Group reviews its estimates and assessments on a regular basis to take past experience into account and incorporate factors considered relevant under current economic conditions. The major items of the financial statements that may be subject to estimates are as follows: – the impairment of goodwill and intangible assets and property, plant and equipment, whose measurement is specifically based on future cash flow, discount rate and net realisable value assumptions (note 5.1 to theconsolidated financial statements); COMPLIANCE WITH ACCOUNTING STANDARDS NOTE 1.2 JUDGEMENTS AND ESTIMATES NOTE 1.3 General principles Note 1.3.1

– the lease term and discount rate for property leases (note 5.3 to the consolidated financial statements); – retirement commitments, whose measurement is based on a number of actuarial assumptions (note 10.2.1 to the consolidated financial statements); – provisions and contingent liabilities (notes 9.1 and 9.2 to the consolidated financial statements); – the measurement of options associated with stock option plans and free share allocations granted to employees (note 10.3 to the consolidated financial statements); – the measurement of certain financial instruments used to hedge foreign exchange and raw materials, as well as certain options negotiated on the acquisition of equity investments (notes 7.2.2 and 7.2.4 to the consolidated financial statements). As part of the preparation of these annual consolidated financial statements, the main judgments made and the main assumptions used by Management have been updated based on the latest indicators available. At 31 December, the Group reviews its performance indicators and carries out impairment tests if there is any indication that an asset may have been impaired. Challenges relating to climate risk Note 1.3.2 SOMFY has identified global warming as a risk in relation to the environmental impact of its operations and products and the impact of the environment on its business (see chapter 3 Non-financial statement). Judgements and estimates include the Group’s strategic assumptions aimed at delivering on its own commitments to limit CO 2 emissions under its Ambition 2030 roadmap, which are aligned with European directives such as the Sustainable Finance Disclosure regulation (SFDR), the EU’s Green Taxonomy and the draft Corporate Sustainability reporting Directive (CSRD). A breakdown of SOMFY’s commitments and of policies and actions associated with climate risk can be found in chapter 3 Non-financial statement. At present, climate risk may have a marginal impact on the estimated useful life of property, plant and equipment used to calculate depreciation, reviews of estimates and assumptions concerning asset impairment tests and the measurement of risks to determine the amount of provisions for liabilities and charges. However, these climate risk-related estimates remain uncertain by nature and will need to be updated as scientific knowledge of the underlying issues improves.

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SOMFY – ANNUAL REPORT 2022