The following discussion of the Group’s risk management activities includes “forward-looking statements” that involve risks and uncertainties. Actual results could differ materially from those projected in the forward-looking statements. See “Forward-Looking Information.” A significant portion of the Group’s net sales and costs is denominated in currencies other than the Euro. The Group is exposed to market risks principally from fluctuations in the exchange rates between the Euro and other currencies, including, but not limited to, in particular the U.S. dollar, and to a significantly lesser extent, from variations in interest rates. See Note 33(C)(iv) to the Consolidated Financial Statements. Exchange Rate Risk — The Group’s foreign exchange rate risk in 2025 arose principally in connection with sales denominated in U.S. dollars, British pounds, Euro (for the Company’s subsidiary located in Eastern Europe), Australian dollars and Japanese yen, as well as in connection with Chinese yuan, Romanian leu, Brazilian reais, Mexican pesos, Vietnamese dong, and Russian rubles, for the Company’s subsidiaries operating in currencies other than the Euro. As of December 31, 2025, the Company was a party to a number of currency forward contracts, all of which are designed to hedge future cash flows from accounts receivables and sales orders denominated in different currencies, net of expected outflows from trade payables. The Group does not use such foreign exchange contracts for speculative trading purposes. As of December 31, 2025 and 2024, the notional amount in Euro terms of all of the Group’s outstanding currency forward contracts totaled €12.8 million and €12.7 million, respectively. The tables below summarize (in thousands of Euro equivalent) the contractual amounts of currency forward contracts intended to hedge future cash flows from accounts receivable and sales orders, net of expected outflow from trade payables, as of December 31, 2025 and 2024: December 31, 2025 2024 U.S. dollars 3,434 5,515 British pounds 3,414 4,304 Euro 4,850 2,416 Australian dollars 592 369 Mexican pesos 422 — Japanese yen 113 124 Total 12,825 12,728 The currency forward contracts denominated in Euro are used by the Group’s Romanian subsidiary to hedge its net collections in Euro vs. RON. All of these forward contracts had various maturities extending through April 2026. As of December 31, 2025, these forward contracts had a net unrealized gain of €0.1 million, compared to a net unrealized loss of €0.2 million as of December 31, 2024. The Group recorded this amount in “net exchange rate gains/(losses)” in its Consolidated Financial Statements. The following tables present information regarding the contract amount in thousands of Euro equivalent and the estimated fair value of all of the Group’s foreign exchange contracts: contracts with unrealized gains are presented as “assets” and contracts with unrealized losses are presented as “liabilities.” December 31, 2025 December 31, 2024 Contract Amount Unrealized gains (losses) Contract Amount Unrealized gains (losses) Assets 8,767 76 2,909 24 Liabilities 4,058 (19 ) 9,819 (268 ) Total 12,825 57 12,728 (244 ) As of December 31, 2025, the potential loss in fair value of all of the Group’s forward contracts outstanding that would have resulted from a hypothetical, instantaneous and unfavorable 10% change in currency exchange rates would have been approximately €1.3 million. 79 Table of Contents For the accounting of transactions entered into in an effort to reduce the Group’s exchange rate risks, see Notes 4(s) and 32 to the Consolidated Financial Statements. For further details about the Group’s exposure to currency risk, see Note 33(C)(iv) to the Consolidated Financial Statements. Interest Rate Risk — To a significantly lesser extent, the Group is also exposed to interest rate risk. As of December 31, 2025, the Group had €52.5 million (equivalent to 19.3% of the Group’s total assets as of the same date) in debt outstanding (Bank overdrafts and short-term borrowings plus long-term debt, including the current portion of such debt), 58.4% of which is subject to floating interest rates. See Notes 20, 28 and 33(C)(iv) to the Consolidated Financial Statements. The potential increase in interest expenses on the Group’s total debt (bank overdrafts and long-term debt, including their current portion) that would have resulted from a hypothetical, instantaneous and unfavorable 1.0% increase in the interest rates of the Group’s total debt outstanding as of December 31, 2025 would have been approximately €0.6 million. In the normal course of business, the Group also faces risks that are either non-financial or non-quantifiable. Such risks principally include country risk, credit risk and legal risk. 80 Table of Contents