New Risk • Apr 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.37m (US$9.77m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 28% per year over the past 5 years. Market cap is less than US$10m (€8.37m market cap, or US$9.77m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (€2.2m revenue, or US$2.6m). New Risk • Apr 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 28% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Revenue is less than US$5m (€2.2m revenue, or US$2.6m). Market cap is less than US$100m (€9.07m market cap, or US$10.7m). Board Change • Apr 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Chairman of the Board of Directors Alessandro Squeri is the most experienced director on the board, commencing their role in 2024. Independent Director Cecilia Martire was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Dec 12
New major risk - Revenue and earnings growth Earnings have declined by 12% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 12% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (0.6% net profit margin). Revenue is less than US$5m (€2.2m revenue, or US$2.6m). Market cap is less than US$100m (€10.0m market cap, or US$11.7m). New Risk • Nov 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.0% average weekly change). Revenue is less than US$5m (€1.5m revenue, or US$1.7m). Market cap is less than US$100m (€8.37m market cap, or US$9.71m). Valuation Update With 7 Day Price Move • Nov 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €1.60, the stock trades at a trailing P/E ratio of 67.1x. Average forward P/E is 12x in the Capital Markets industry in Italy. Total loss to shareholders of 30% over the past year. New Risk • Oct 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.60m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (€8.60m market cap, or US$9.99m). Minor Risks Share price has been volatile over the past 3 months (5.7% average weekly change). Revenue is less than US$5m (€1.5m revenue, or US$1.7m). New Risk • Jul 29
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.54m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (€8.54m market cap, or US$9.87m). Minor Risk Revenue is less than US$5m (€1.8m revenue, or US$2.1m). Announcement • Jun 14
Finance For Food S.p.A. (BIT:FFF) acquired an additional 29% stake in D&P Srl from Aldebaran Investments srl. Finance For Food S.p.A. (BIT:FFF) acquired an additional 29% stake in D&P Srl from Aldebaran Investments srl on June 13, 2025. As part of consideration, 23.6% of D&P's capital was contributed in kind by Aldebaran in exchange for FFF shares while the remaining 5.4% was purchased for a cash consideration of €500. To implement the transfer, the board of directors of Finance For Food has approved a capital increase in kind equal to €2.2 million, including premium, through the issuance of 558,375 new ordinary shares at a unit price of €3.94, based on the target price contained in the latest equity research published before the signing of the contract. The transaction is part of the acquisition agreement signed on November 4, 2024 between Finance For Food, Aldebaran and PFP Srl, which regulates the transfer of the entire capital of D&P.
Finance For Food S.p.A. (BIT:FFF) completed the acquisition of an additional 29% stake in D&P Srl from Aldebaran Investments srl on June 13, 2025. New Risk • Jun 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 12% over the past year. Revenue is less than US$1m (1.1m revenue, or US$644). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€10.4m market cap, or US$12.0m). Board Change • May 14
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Chairman of the Board of Directors Alessandro Squeri is the most experienced director on the board, commencing their role in 2024. Independent Director Cecilia Martire was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Board Change • Mar 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 3 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Chairman of the Board of Directors Alessandro Squeri is the most experienced director on the board, commencing their role in 2024. Independent Director Cecilia Martire was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Italian stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 12% over the past year. Revenue is less than US$1m (1.1m revenue, or US$644). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (€11.2m market cap, or US$11.7m). New Risk • Jan 05
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Revenue has declined by 12% over the past year. Revenue is less than US$1m (1.1m revenue, or US$644). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Market cap is less than US$100m (€11.2m market cap, or US$11.6m). 
