Source: El.En. March 2020

El.En. SpAItaly

50%

100%

70%

100%

85%

60%

Quanta System SpA

Italy

Lasit SpAItaly

DEKA S.a.r.l.France

OT-LAS SrlItaly

ASA SrlItaly

50%

100%

Cutlite do Brasil LtdaBrazil

98,27%

100%

Esthelogue SrlItaly

96,65%

50%

78,85%

100%

100%

IND-MED MEDICAL INDUSTRIAL OTHER

DEKA Co LtdJapan

55%

50%

Penta-Laser EquipmentWenzhou Co. Ltd

China

83,23%

Merit DueItaly

100%

B O A R D M E M B E R S O W N E R S H I P

AUDITING COMPANY

DELOITTE & TOUCHE SPA

BOARD OF D IRECTORS

Chairman Gabr ie le C lement i

Andrea Cang io l iBarbara Bazzocch i

Board Members Fab ia Romagno l i ( Independent )

Miche le Legna io l i ( Independent )A lber to Pecc i (Not Execut ive)

INTERNAL CONTROL COMMITTEE

Fab ia Romagno l iM iche le Legna io l i

A lber to Pecc i

GROUP STRUCTURE

CORPORATE GOVERNANCE

SHAREHOLDERS

COMPANY PROFILE

SPECIALIST BROKER

CODE OF

CONDUCT ON INSIDER DEALING

Ÿ medical laser devices used in dermatology, surgery, aesthetics, physiotherapy, dentistry and

gynecology;

We design, manufacture and sell on a global basis:

Since its foundation El.En. constantly increased its turnover, leveraging and expanding its global presence.

We benefit of a worldwide distribution network, count over 1.300 employees and more than 35,000 installed

laser sources.

El.En. S.p.A. is an Italian hi-tech industrial group operating in opto-electronics with proprietary technologies

and know-how developed over 35 years of experience. We are an international group counting more than 20

companies active worldwide in several market segments involving laser technologies applications.

Ÿ industrial laser systems for applications ranging from cutting, marking and welding of metals, wood,

plastic and glass to the decoration of leather, paper, cardboard and fabrics;

Ÿ laser systems for the conservation of the cultural heritage.

El .En. SpA v i a B a l d a n z e s e , 1 75 0 0 4 1 C a l e n z a n oF i r e n z e - I t a l yt e l . : ( + 3 9 ) 0 5 5 . 8 8 . 2 6 . 8 0 7f a x . : ( + 3 9 ) 0 5 5 . 8 8 . 3 2 . 8 8 4

The directors and others relevant persons must report all transactions completed with a value equal to Euro 20.000 or more within any given calendar year.

INVESTOR RELATIONS MANAGER

ENRICO ROMAGNOLI

TEL: (+39) 055-8826807

FAX:(+39) 055-8832884

finance@elen.it

INVESTOR RELATIONS

Rome - Tel: (+39) 06 69923324

E-mail: polytemshir@polytemshir.it

STATUTORY AUDITORS

Permanent AuditorsPaolo Casel l i

R i ta Pelagot t i

33% 50%

17%

Independent 33%

Executive 50%

Not Executive 17%

Source: EL.EN. March 2020

Andrea Cangioli

997.496 shares

2.078.456 shares

640 shares

2.938.688 shares

Gabriele Clementi

Barbara Bazzocchi

1.911.622 shares

Alberto Pecci

Michele Legnaioli

INTERMONTE S IM S.p.A.

Managing Directors

5,09%

9,76%

15,00%

7,40%

Andrea Cangioli 15,00%

Gabriele Clementi 9,76%

Barbara Bazzocchi 5,09%

Alberto Pecci 10,61%

Immobiliare del Ciliegio Srl 7,40%

Kempen Oranje partecipaties nv 6,64%

Market 45,50%

45,50%

6,64%

PresidentVincenzo Pi l la

GENERAL MANAGERPaolo Salvadeo

10,61%

Cutlite Penta SrlItaly

Asclepion LaserTechnologies GmbH

Germany

Pharmonia srlItaly

DEKA M.E.L.A. SrlItaly

Penta-Chutian Laser (Wuhan) Co. Ltd

China

100%

WITH US Co LtdJapan

BRCTUSA

DEKA Medical Inc.USA

100%Penta-Laser TechnologyShangdong Co. Ltd

China

Galli Giovanni & C. S.r.lItaly

70%

CONSOLIDATED INCOME STATEMENT

Revenues

Change in inventory of finished goods and WIP

Other revenues and income

Value of production

Purchase of raw materials

Change in inventory of raw material

Other direct services

Gross margin

Other operating services and charges

Added value

Staff cost

EBITDA

Depreciation, amortization and other accruals

EBIT

Net financial income (charges)

Share of profit of associated companies

Other non-operating income (charges)

Income (loss) before taxes

31/03/2020 Inc % 31/03/2019 Inc % Var. %

72.945 100,0% 83.865 100,0% -13,0%

9.742 13,4% 4.172 5,0% 133,5%

914 1,3% 444 0,5% 105,8%

83.601 114,6% 88.481 105,5% -5,5%

51.173 70,2% 50.874 60,7% 0,6%

-6.096 -8,4% -2.558 -3,0% 138,4%

7.012 9,6% 6.935 8,3% 1,1%

31.512 43,2% 33.229 39,6% -5,2%

8.773 12,0% 9.867 11,8% -11,1%

22.738 31,2% 23.362 27,9% -2,7%

15.661 21,5% 15.682 18,7% -0,1%

7.077 9,7% 7.679 9,2% -7,8%

2.579 3,5% 1.954 2,3% 32,0%

4.498 6,2% 5.726 6,8% -21,4%

317 0,4% 783 0,9% -59,5%

-106 -0,1% -74 -0,1% 43,2%

0 0,0% 0 0,0%

4.710 6,5% 6.435 7,7% -26,8%

0

2.000

4.000

6.000

8.000

10.000

7.6797.077

31/03/202031/03/2019

Source: El.En. S.p.A.

EBITDA

0

10.000

20.000

30.000

40.000

50.000

60.000

70.000

27.477

31/12/2019

Source: El.En. S.p.A.

NET FINANCIAL POSITION

61.419

31/03/2020

Medical sector 53.518 M€

Industrial sector 19.426 M€

Italy 11.532 M€

Rest of the world 42.704 M€

Europe 18.709 M€

REVENUES BREAKDOWN AT MARCH 31th 2020

73,37%

26,63%

25,65%

58,54%

15,81%

NET FINANCIAL POSITION

31/03/2020 31/12/2019

Cash and cash equivalent 69.916 99.158

Short term financial receivable 14 84

Financial short term liabilitie -19.024 -16.706

Net current financial position 50.905 82.535

Financial long term liabilities -23.428 -21.116

Net financial position 27.477 61.419

STATISTICS AND INDICES

N. shares traded (split adjusted)

Lutronic

Cutera

Source: El.En. S.p.A.

COMPARABLES

Han’s Laser

IPG

Prima Industr ie

€ 23.386.755€ 1.113.655

71.559 59.900

€ 446.291.056€ 1.763.996

18.104.356 1.257.907

YoY (May 16, 2019 - May 15, 2020)

Sisram Medical

Last price (18/05/2020)

Range(-1 Y):

Stock performance

FTSE IT STAR Index performance

20,40

-1 Y-6 M-1 M

-1 Y-6 M-1 M

max 33,74 (02/01/20) min 13,90 (20/03/20)

+ 9,74% - 30,42% + 11,96%

- 3,64% - 10,64% + 4,96%

STOCK PERFORMANCE

0K

250K

20%

Sep 2019 Jan 2020

0%

-20%

May 2020

Source: Borsa ItaliaFTSE IT STAREl.En.

40%

80%

60%

Company: EL.EN.SPA

Borsa MTAX

ISIN - IT0005188336

Ticker - ELN

Share capitalNO. SHARESof which: -Ordinary shares

-Preferred sharesNominal value Capitalization (18/05/2020)Minimum amount tradedDate of quotationIPO

2.546.800,39

19.588.77200000000,13

111/12/200029,9 mil euro

SectorElectronic & Electrical Equipment

Sub-SectorElectronic Equipment

Latest dividend€ 0,40

Ex-dividend date29/05/2019

365 mil euro

KEY F IGURESSTOCK INFORMATION

C O P Y R I G H T 2 0 2 0 - A L L R I G H T S R E S E R V E D P O LY T E M S H I R©

Note:

Data and information from draft financial statement as of march 31, 2020 were unaudited.

The information shown are organized in conformity with the international accounting principles, IAS/IFRS. All amounts are expressed in thousands of Euro, unless otherwise stated.

Market

Segment

Code

Reuters

Bloomberg

STAR

ELN.MI

ELN.IM

CTVTotalDaily average

TotalDaily average

MoM (Apr 16, 2020 - May 15, 2020)

InMode Venus