Exor Press Release - FY2025 Results

Amsterdam, 23 March 2026

EXOR REPORTS €37.1 BILLION GROSS ASSET VALUE AT END-2025

• NAV per share decreased by 8.1% compared to a 5.4% increase in the MSCI World Index
• Performance was driven by challenges at Exor’s largest companies, partially offset by a positive impact from the outstanding performance of Lingotto, the positive contribution from Iveco and unlisted companies and the share buyback
• Lingotto reached over $10 billion of assets under management and delivered strong returns to Exor, mainly driven by its public investments
• With inflows of €4.2 billion in 2025 and expected proceeds from additional monetisations this year, Exor is well-positioned to seize significant investment opportunities
• Extended debt maturity provides further financial flexibility with an LTV ratio at 6.9%, well below the 15% target
• By the end of 2025, Exor’s gross asset value amounted to €37.1 billion, while the NAV totalled €33.2 billion
• Proposed dividend of €0.49 per share for approximately €100 million to be approved by the AGM and payable on 27 May (ex-date 25 May and record date 26 May)

“We are simplifying our portfolio, sharpening our priorities and concentrating on larger companies, where we believe Exor can create the greatest value. We have signed agreements to divest our stakes in Iveco Group, GEDI, Lifenet and NUO. These four transactions are expected to generate €2 billion in proceeds this year, with a total multiple of more than 1.4x on our invested capital,” Exor CEO John Elkann said.

“As a result, we are increasing our cash available for deployment to more than €3.5 billion, which also places us in a strong position to pursue a significant new investment similar in scale and ambition to Philips,” he said.

ABOUT EXOR

Exor N.V. (AEX: EXO) has been building great companies since its foundation by the Agnelli Family. For more than a century, Exor has made successful investments worldwide, applying a culture that combines entrepreneurial spirit and financial discipline. Its portfolio is principally made up of companies in which Exor is the largest shareholder including Ferrari, Stellantis, Philips and CNH.

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