Memorandum

Dear Shareholders,

2024 has been a bittersweet year. Sour because my father, José Ignacio Nicolás-Correa, left us just a year ago. Sweet because it has been the year with the best results in the history of the Nicolás Correa Group, consolidating the growth path of recent years.

Our beloved President spent more than 50 years working tirelessly for his beloved Correa Group, travelling and selling our machines all over the world. He was an example to all of us of dedication, effort and tenacity.

I would like to thank all the shareholders, customers, suppliers and, above all, the employees who have brought Correa this far. After one year as President of the Group, I can say that I am very proud of the team that makes up the Correa Group.

Looking at the consolidated Group, we achieved revenues of 121.5 million euros, EBITDA of 18.5 million euros and profit before tax of 17.1 million euros. With significant growth in all figures compared to the previous year.

In addition, we have consolidated our net financial debt in line with previous years: -19 million. This net cash allows us to address the investment plan we have in place to continue on the path of growth.

The share price evolution represents a revaluation of 190% in the last 5 years with a stable and growing dividend policy.

This financial position, and our diversification by sector and geographic markets, gives us a position of strength in a world of continuous political and financial change and uncertainty. It also encourages us to carry out our future investments in a forward-looking and cautious manner.

We will continue to work hard to ensure that 2025 will also be a successful year, based on the
satisfaction of our customers and without losing our focus on profitability.

I give you my very best regards,

Bibiana Nicolás-Correa

Chairman