ICAPE announces the initiation of coverage of its stock by Euroland

Fontenay-aux-Roses, France, 6:00 p.m. CEST, October 6^th 2026 – The ICAPE Group (ISIN code: FR001400A3Q3 – ticker symbol: ALICA), a global technology distributor of printed circuit boards (“PCBs”) and custom electronic parts, announces today the initiation of coverage of its stock by Euroland Corporate.

Euroland Corporate, an expert in financial analysis for small and mid-cap companies, has today initiated coverage of ICAPE Holding with a research note issuing a "Buy" recommendation and a target price of €16.70.

This initiation of coverage enhances ICAPE’s visibility among institutional and individual investors. It highlights the Group’s growth prospects, its positioning in the global printed circuit board (PCB) market, and the value-creation drivers identified by the analyst.

Euroland Corporate currently covers around fifty listed companies with market capitalizations ranging from €10 million to €2.5 billion.

The initiation report is available online at the following link: Research Hub - FR - EuroLand Corporate (https://www.elcorp.com/research-hub/)

ICAPE Holding stock is also covered by three other firms: IDMidCaps, Kepler Cheuvreux, and TPICAP.

Disclaimer

The objectives and trends presented in this press release are based on data, assumptions, and estimates, particularly regarding economic prospects, that the Group considers reasonable as of the date of this press release. These future prospects and objectives, resulting from the Group's strategic direction, do not constitute forecasts or estimates of the Group's earnings. The figures, data, assumptions, estimates, and objectives presented are subject to change or modification in unpredictable ways, depending, among other things, on developments in the economic, financial, competitive, legal, regulatory, accounting, and tax environment, or on other factors beyond the Group's knowledge as of the date of this press release. Furthermore, the materialization of certain risks described in Chapter 3 (Risk Factors) of the Registration Document and Chapter 2 (Risk Factors) of the Securities Note, as updated in Section 6 of the "Management's Discussion and Analysis" chapter of the 2024 Annual Financial Report, available at www.icape-group.com, could adversely affect the Group's business, financial condition, market conditions, results of operations, or outlook, and consequently call into question its ability to achieve the objectives presented herein. Moreover, the achievement of these objectives depends on the success of the Group's strategy and its implementation. Therefore, the Group makes no commitment and provides no guarantee regarding the achievement of the objectives set forth in this press release.

About the ICAPE Group

Founded in 1999, the ICAPE Group acts as a key technology expert in the supply chain for printed circuit boards and custom electronic parts. With a global platform comprised of 39 subsidiaries and a leading presence in China, where the vast majority of printed circuit boards are produced, the Group offers its customers a unique range of products and services ("one-stop-shop"). As of December 31, 2025, the ICAPE Group achieved consolidated revenue of €200.3 million.

Learn more at: icape-group.com

Contacts - ICAPE Group

Group CFO
Arnaud Le Coguic
investor@icape.com

Head of IR & financial communication
Régine Gaggioli
regine.gaggioli@icape-group.com