I.CO.P. S.P.A. SOCIETA BENEFIT

Shareholders of I.CO.P. S.p.A. Società Benefit

The company’s own published shareholding table (icop.it, investor relations; the page carries no date and is still worded for the Euronext Growth Milan regime) shows three positions over a total of 31,778,250 shares, which matches the fully paid share capital of EUR 31,778,250 stated in the 2025 consolidated financial statements and implies a nominal value of EUR 1.00 per share:

• Cifre S.r.l. — 25,000,000 shares, 78.67% of share capital and of voting rights
• F.L.S. — 1,728,000 shares, 5.44%
• Market (free float) — 5,050,250 shares, 15.89%

The 2025 consolidated financial statements state that at 31 December 2025 the company was controlled by Cifre S.r.l., whose registered office is at Vicolo dello Schioppettino 3, Udine (UD). The F.L.S. holding arises from a reserved capital increase of 1,728,000 new shares issued as part of the consideration for Palingeo S.p.A.; the annual report identifies F.L.S. as Palingeo’s previous majority shareholder. The related capital increase totalled EUR 31.8 million, of which EUR 1.7 million to share capital, EUR 14.7 million to share premium and EUR 15.4 million to other reserves. At the July 2024 admission the pre-listing shareholders were Cifre S.r.l. and Friulia S.p.A. (16.85%); Friulia S.p.A. no longer appears in the published table. Of the shares held by Cifre S.r.l., 2,415,541 were Price Adjustment Shares not admitted to trading, and the free float measured against the 27,652,209 shares admitted was 18.33% at admission.

Treasury shares: the 2025 annual report states that the parent does not hold and has never held, directly or indirectly, treasury shares or shares of controlling companies.

Direction and coordination: the 2025 consolidated financial statements identify Cifre S.r.l. as the controlling company but contain no declaration that the company is subject to its direction and coordination under articles 2497 and following of the Civil Code, and no such declaration was found in the documents reviewed. Not disclosed.

Disclosure regime: until 1 September 2026 the shares traded on Euronext Growth Milan, a multilateral trading facility on which article 120 TUF does not apply; disclosure followed the Euronext Growth Milan Issuers’ Regulation, with a first threshold of 5% of share capital and notification to the issuer within four trading days. From 2 September 2026 the shares trade on Euronext Milan, a regulated market, so article 120 TUF applies and major holdings must be notified to Consob and to the issuer, the first threshold being 3% of share capital, or 5% for issuers qualifying as SMEs under article 1(1)(w-quater.1) TUF. Consob’s public major-holdings register could not be consulted for this record, and no Consob-filed holding is asserted here; the figures above are taken from the company’s own disclosure and its 2025 annual report.

Ultimate beneficial ownership

The ownership chain runs from I.CO.P. S.p.A. Società Benefit up to Cifre S.r.l., which holds 78.67% of the capital and voting rights and is described in the company’s July 2024 admission announcement as the holding company of the Petrucco family. The ownership of Cifre S.r.l. itself is not available from the official filings consulted, so no natural person is identified here as ultimate beneficial owner. Under Italian implementation of the anti-money-laundering directives the beneficial owner of a company is in principle the natural person or persons holding more than 25% of it, directly or indirectly. Italy’s central register of beneficial owners (registro dei titolari effettivi) is not operational: its implementation has been suspended in the course of administrative-court litigation, so no register extract can be relied on.

Data availability

The source record for this company attributed the entire share capital to four collective investment funds — DFA Emerging Markets Core Equity Portfolio 30.43%, DFA Investment Dimensions–Emerging Markets Social Core Equity 27.17%, DFA Investment Dimensions–DFA World Ex U.S. Targeted Value Portfolio 23.91% and Avantis Emerging Markets Equity Fund 18.48%, summing to 99.99%. Three of the four are emerging-markets mandates and could not hold an Italian issuer at all, Italy not being an emerging market. The rows are also internally impossible: the quantities recorded total 552,000 shares, which is 1.74% of the 31,778,250 shares in issue rather than 100%, and the share value is given as EUR 0.31–0.32 against a nominal value of EUR 1.00. No such holding appears in the company’s own shareholding disclosure. Those rows have not been used in this record. The record also carried no ownership percentages for any group company.

Directors and officers of I.CO.P. S.p.A. Società Benefit

The board of directors (consiglio di amministrazione) was appointed by the shareholders’ meeting of 7 April 2026 from the single list presented by the controlling shareholder Cifre S.r.l. It has nine members and its term runs for three financial years, to the meeting called to approve the accounts for the year ending 31 December 2028:

• Vittorio Petrucco — Chairman
• Piero Petrucco — Chief Executive Officer
• Lucia Calvosa — Director, independent
• Enrico Castaldi — Director
• Paolo Copetti — Director
• Davide Epicoco — Director
• Luca Fontana — Director
• Francesco Petrucco — Director
• Giacomo Petrucco — Director

The board of statutory auditors (collegio sindacale) was appointed by the same meeting of 7 April 2026 for the same term:

• Guido Maria Giaccaja — Chairman of the collegio sindacale
• Maria Cristina Landro — Statutory auditor (sindaco effettivo)
• Carlo Luigi Molaro — Statutory auditor (sindaco effettivo)
• Giuseppe Graffi Brunoro — Alternate auditor (sindaco supplente)
• Tommaso Vidale — Alternate auditor (sindaco supplente)

The collegio sindacale is a separate body from the board. Under articles 2403 and following of the Civil Code it supervises compliance with the law and the articles of association and the adequacy of the company’s organisational, administrative and accounting arrangements. Its members are not directors and do not manage the company. Statutory audit of the accounts is performed by an external audit firm: PricewaterhouseCoopers S.p.A. audited the 2025 consolidated financial statements and issued an unqualified opinion, with an emphasis of matter on the first-time adoption of EU-IFRS.

Executives, kept separate from board office: the source record attributes the role of chief financial officer to Paolo Copetti and that of investor relations manager to Giacomo Petrucco. Both sit on the board. These executive roles are undated in the record and were not corroborated against a company filing for this entry. Nationality of the directors and auditors: not disclosed in the filings consulted.

Società Benefit responsibility manager: a benefit corporation must identify the person or persons responsible for the impact function under Law 208/2015. No such person is named in the documents reviewed. Not disclosed.

Family control: four of the nine directors — Vittorio Petrucco, Piero Petrucco, Francesco Petrucco and Giacomo Petrucco — share the Petrucco surname, and the controlling shareholder Cifre S.r.l. is described in the company’s July 2024 admission announcement as the Petrucco family holding company. The company is family-controlled and describes itself as being in the fourth generation of family management.

Data availability

The source record held only three officer rows, none of them dated, with no appointment or resignation dates and no board term; the collegio sindacale was absent entirely. One row carried the professional title “Engineer” in the given-name field, with the surname field holding “Piero  Petrucco” including a double space, so that an honorific (Ingegnere) had been captured as part of a personal name. The title is not part of the name and is not published here as such. Dates, terms and the composition of both statutory bodies above are taken from the resolutions of the shareholders’ meeting of 7 April 2026.

Group structure of I.CO.P. S.p.A. Società Benefit

I.CO.P. S.p.A. Società Benefit is the parent of the I.CO.P. group and is itself controlled by Cifre S.r.l. The list of consolidated companies in the 2025 consolidated financial statements contains 41 subsidiaries, consortium companies and associates: 21 are designated for line-by-line consolidation (consolidamento integrale), two of them in liquidation and carried at nil at 31 December 2025, and 20 are accounted for by the equity method. The principal holdings are set out below. Foreign branches are shown separately because they are establishments of I.CO.P. S.p.A. Società Benefit itself, registered abroad, and not subsidiaries: they have no share capital, no separate legal personality and no ownership percentage, and their results are already inside the parent’s own accounts.

Data availability

The source record held a group tree of 19 nodes: Cifre S.r.l. at the top, the subject company beneath it and 17 entities below the subject, one of them nested a further level down. No node carried an ownership percentage, a relationship type or a date.

Four of those nodes are branches, not companies: the Hungarian fióktelep, the German Niederlassung, the Norwegian NUF and the Serbian ogranak are all establishments of I.CO.P. S.p.A. Società Benefit registered abroad. The record presented them as group companies at the same level as genuine subsidiaries. The Norwegian branch appears twice, once nested beneath itself under a second number (824860262), which is a duplicate rather than a subsidiary of a branch.

One identifier is a placeholder: the German Niederlassung carries “#0427928867”, which is not a Handelsregister number, a German VAT number or any other German register identifier, and does not resolve.

The identifier recorded for the subject company itself, IT00298880303, is its VAT number. For this company the VAT number happens to coincide with its Registro Imprese number and codice fiscale (00298880303), but that is not always so for Italian companies, and the REA number quoted elsewhere in the record, UD131947, is a third and different identifier. The identifiers shown above for group companies are those held in the record and have not been checked against each foreign register.

DICOP GmbH (Germany, recorded identifier 37073B201258) appears in the record but not in the list of consolidated companies in the 2025 annual report. Conversely the record omits ICOP Subsoil Inc. and Atlantic GeoConstruction Holdings Inc., the United States operations acquired in 2025, whose segment generated EUR 86.1 million of the group’s EUR 426.9 million consolidated revenue for the year ended 31 December 2025, together with most of the 41 entities listed in the annual report.