Vinci Sa · EURONEXT:DG
Vinci Sa — Vinci Sa Act — H1 2026 Earnings Presentation
84 slides from Vinci Sa's earnings presentation, Jul 30, 2026
Slide 1: H1 2026 results
H1 2026 results Excellent financial performance 30 JULY 2026 - PARIS
Slide 2: H1 2026 highlights
H1 2026 highlights Pierre Anjolras Chief Executive Officer
Slide 3: H1 2026: VINCI's business model delivered excellent performance
H1 2026: VINCI’s business model delivered excellent performance, driven in particular by Energy Solutions • Amid the current turmoil, ability to keep costs under control rapidly and efficiently and to pass-on inflation • Increasing investment needs for essential infrastructure (energy, digitalisatio
Slide 4: H1 2026: another set of strong figures
H1 2026: another set of strong figures Revenue Increase in Growth in Positive Strong up Ebitda* EPS** free cash flow order intake +2% +4% +11% €264 m +8% to to to (+€218 m yoy) €35.6 bn €6,405 m €3.70 Outside France: Ebitda margin 59% +40 bp yoy (57% in H1 2025) * Cash flow from operations before ta
Slide 5: Concessions
Concessions Portfolio resilience supporting broad-based margin improvement Δ H1 2026/H1 2025 VINCI Airports VINCI Autoroutes Revenue Ebitda • Overall traffic stable in H1 26 thanks to • Decline in traffic (-2.9% vs H1 25) due to €5,833 m €4,016 m a good geographic diversification the negative impact
Slide 6: Energy Solutions
Energy Solutions Strong growth in Q2 with margin expansion Δ H1 2026/H1 2025 VINCI Energies Cobra IS Revenue Ebit • Revenue up in Q2 26 (+9.0% vs Q2 25) • Revenue up in Q2 26 (+7.5% vs Q2 2025) €14,573 m €1,131 m • Strong dynamic both in France and • Sustained growth momentum for +€123 m abroad flow
Slide 7: Building a sizeable long-term energy asset portfolio
Building a sizeable long-term energy asset portfolio Portfolio at the end of June 2026 Renewable energy Transmission production assets lines PPP 2 solar farms put in operation in Texas 2 new PPP contracts in Brazil for 250 MW in H1 2026 won in H1 2026: 10-year PPAs for some Google’s data centres ~65
Slide 8: Construction
Construction Stabilisation of the activity and margin at a high level Δ H1 2026/H1 2025 VINCI Construction VINCI Immobilier Revenue Ebit* • Revenue increase in Q2 26 (+2.6% vs • Pressured property development €15,456 m €329 m Q2 25) market in France, housing units reservations down -16% -€6 m • Over
Slide 9: Dynamic order intake
Dynamic order intake Ratio order intake / revenue Total VINCI 31.9 +8% 34.4 1.2x Key takeaways • Robust order intake including in flow business 15.6 +5% 16.4 1.1x • €0.9 bn of contracts related to data centres won in in € billions H1 26 • Order intake in H1 26 remains higher than the 16.3 +10% 18.0
Slide 10: Record and strong order book reinforces visibility and confidence
Record and strong order book reinforces visibility and confidence +10% +10% Number of months of +8% average business activity +8% Total VINCI 71.3 69.8 76.8 13.6 14.7 71.3 69.8 76.8 Germany 19% France 29% 21.0 20.2 +9% 22.1 Europe 35.8 35.6 +8% 38.3 14.4 15.1 76.8 excl. in € billions France 33.1 33.
Slide 11: H1 2026 financial data
H1 2026 financial data Thierry Mirville Chief Financial Officer
Slide 12: H1 2026 revenue growth driven by international and Energy Solutions
H1 2026 revenue growth driven by international and by Energy Solutions VINCI €35,597 m +2.1% vs H1 2025 +1.3% +1.5% -0.6% Organic Scope FX France I 41% of total revenue International I 59% of total revenue €14,717 m -1.3% €20,880 m +4.7% -1.4% +0.1% +3.3% +2.5% -1.1% Organic Scope Organic Scope FX C
Slide 13: Income statement - Continued earnings growth and margin expansion
Income statement - Continued earnings growth and margin expansion (in € millions) H1 2026 H1 2025 Δ (€m) Δ 2026/2025 Operating income from ordinary activities (Ebit) 4,363 4,140 +223 +5.4% % of revenue 12.3% 11.9% Share-based payment expense (IFRS 2) (356) (377) +20 Profit/loss of equity-accounted c
Slide 14: Net financial debt remains well under control
Net financial debt remains well under control Free cash flow: €264 m (22.4) (19.1) Acquisitions / Dividends / Shares buyback & Disposals Capex miscellaneous (0.4) Interests & taxes (2.4) (3.2) paid Ebitda ∆ Working capital (1.9) 6.4 requirement in € billions (1.9) Net financial debt Net financial de
Slide 15: Positive FCF generation in H1 2026
Positive FCF generation in H1 2026 7,000 6,000 5,000 in € millions 4,000 Full-year FCF 3,000 H1 FCF 2,000 1,000 0 -1,000 H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 FY H1 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025 2025 2026 Free cash f
Slide 16: Very sound financial position
Very sound financial position HIGH LEVEL OF LIQUIDITY SOLID CREDIT RATING S&P Moody’s (Confirmed in April 2026) (Confirmed in June 2026) 17.5 Net cash managed 18.0 Outlook Outlook A- stable A3 stable +0.5 11.0 11.5 In H1 2026: • €1.8 bn of new refinancing raised by the Group • €2.8 bn of debt repaym
Slide 17: Outlook and strategy
Outlook and strategy Pierre Anjolras Chief Executive Officer
Slide 18: Main ongoing developments
Main ongoing developments London Gatwick airport High Court ruling on Northern Runway legal challenge All for One: public tender offer Preferred concessionaire for the future A154-A120 motorway Signature of the concession contract expected in Q3 2026 New Lisbon airport 2 solar farms put in The engin
Slide 19: 2026 guidance confirmed
2026 guidance confirmed Following the excellent financial performance in the first half, VINCI confirms its 2026 guidance: • further growth in its revenue, operating earnings and net income attributable to owners of the parent • free cash flow could reach €6 billion* By business, the anticipated dev
Slide 20: Continued commitment to shareholder returns
Continued commitment to shareholder returns €1.10 Dividend per share (in €) since 2016 4.75 5.00 per share 4.50 4.00 2026 interim dividend 2.67 2.90 2.45 per share (all cash) 2.10 2.04 2.04 0.63 0.69 0.75 0.79 0.65 1.00 1.05 1.05 1.05 1.10 13 October 2026 2016 2017 2018 2019 2020 2021 2022 2023 2024
Slide 21: Capital allocation strategy
Capital allocation strategy CASH ALLOCATION M&A/development Capex on existing assets Commitment to a clear and under a strict capital discipline: appealing shareholder remuneration selected countries, growth potential and appropriate returns Long-term infrastructure Extend and strengthen the portfol
Slide 22: VINCI: our shared culture
VINCI: our shared culture Successful Long-term All-round entrepreneurial mindset performance multi-local organisation Trusted Recognised Disciplined management execution policy cash allocation 22 2026 FIRST HALF RESULTS
Slide 23: The success you share
EAL R elegeee THE SUCCESS YOU SHARE
Slide 24: Appendices
Appendices VINE! “~
Slide 25: H1 2026 Financial data
H1 2026 Financial data VINCI
Slide 26: Consolidated revenue
Consolidated revenue Δ 2026/2025 in € millions H1 2026 H1 2025 Actual Like-for-like Concessions* 5,833 5,748 +1.5% +2.7% o/w VINCI Airports 2,294 2,253 +1.8% +5.3% o/w VINCI Autoroutes 3,149 3,171 -0.7% -0.7% o/w VINCI Highways 333 233 +43% +13% Energy Solutions 14,573 13,650 +6.8% +4.3% VINCI Energ
Slide 27: Consolidated revenue - France
Consolidated revenue - France Δ 2026/2025 in € millions H1 2026 H1 2025 Actual Like-for-like Concessions* 3,326 3,395 -2.0% -0.4% o/w VINCI Airports 136 136 -0.1% -0.1% o/w VINCI Autoroutes 3,149 3,171 -0.7% -0.7% Energy Solutions 4,453 4,226 +5.4% +4.3% VINCI Energies 4,418 4,189 +5.5% +4.4% Cobra
Slide 28: Consolidated revenue - International
Consolidated revenue - International Δ 2026/2025 in € millions H1 2026 H1 2025 Actual Like-for-like Concessions* 2,506 2,353 +6.5% +7.2% o/w VINCI Airports 2,158 2,117 +1.9% +5.6% o/w VINCI Highways 333 233 +43% +13% Energy Solutions 10,120 9,425 +7.4% +4.2% VINCI Energies 6,299 5,861 +7.5% +2.7% Co
Slide 29: Ebitda
Ebitda % of % of in € millions H1 2026 H1 2025 Δ 2026/2025 revenue* revenue* Concessions 4,016 68.9% 3,869 67.3% +147 o/w VINCI Airports 1,437 62.6% 1,406 62.4% +31 o/w VINCI Autoroutes 2,376 75.5% 2,323 73.3% +53 o/w VINCI Highways 175 52.6% 121 52.0% +54 Energy Solutions 1,404 9.6% 1,274 9.3% +130
Slide 30: Ebit - operating income from ordinary activities by business line
Ebit - operating income from ordinary activities by business line % of % of in € millions H1 2026 H1 2025 Δ 2026/2025 revenue* revenue* Concessions 2,893 49.6% 2,802 48.7% +91 o/w VINCI Airports 1,153 50.3% 1,129 50.1% +24 o/w VINCI Autoroutes 1,617 51.4% 1,617 51.0% +0 o/w VINCI Highways 117 35.1%
Slide 31: Cash flow statement
Cash flow statement in € millions H1 2026 H1 2025 FY 2025 Ebitda 6,405 6,129 13,507 Change in WCR* and current provisions (1,856) (1,863) 2,496 Income taxes paid (1,195) (1,211) (3,005) Net interest paid (732) (778) (1,318) Dividends received from companies accounted for under the equity method 123
Slide 32: Operating CAPEX
Operating CAPEX in € millions H1 2026 H1 2025 Δ 2026/2025 FY 2025 Concessions 300 216 +84 439 o/w VINCI Airports* 247 192 +55 380 o/w VINCI Autoroutes 15 11 +4 23 o/w VINCI Highways 13 5 +8 12 Energy Solutions 532 761 -229 1,550 VINCI Energies 129 134 -5 310 Cobra IS** 403 627 -224 1,240 Constructio
Slide 33: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € millions H1 2026 H1 2025 Δ 2026/2025 FY 2025 Concessions 517 419 +98 818 o/w VINCI Airports 238 67 +171 263 o/w VINCI Autoroutes 206 298 -92 565 Of which: ASF 124 184 -60 360 Escota 41 66 -26 124 Cofiroute 42 47 -6 79 o/w VINCI Highways 75 56 +19 (4) Energy
Slide 34: Net financial debt by business line
Net financial debt by business line Of which Of which Of which in € millions 30 Jun. 2026 external 31 Dec. 2025 external 30 Jun. 2025 external net debt net debt net debt Concessions (28,353) (21,290) (29,124) (21,412) (30,042) (20,446) VINCI Airports (10,450) (9,343) (10,542) (9,056) (10,824) (8,553
Slide 35: Consolidated balance sheet
Consolidated balance sheet Δ 30 Jun. 26 (in € millions) 30 Jun. 2026 31 Dec. 2025 30 Jun. 2025 /30 Jun. 25 Non-current assets – Concessions 49,323 48,842 48,901 +422 Non-current assets – Energy Solutions, Construction and 30,183 28,967 27,568 +2,614 misc. WCR, provisions and other current assets & l
Slide 36: Maturity of LT gross financial debt
Maturity of LT gross financial debt Average maturity of LT gross financial debt (€34.0 bn) as of 30 June 2026: 5.6 years* 6,000 5,000 4,000 € millions 3,000 2,000 1,000 0 H2 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2026 &+ Holdings & misc. Groupe ASF Cofiroute
Slide 37: LT gross debt: 45% at fixed rate, 55% at floating rate
LT gross debt: 45% at fixed rate, 55% at floating rate Natural hedge between floating rate + inflation linked debt and Ebitda (linked to inflation) + net cash managed Optimising the average cost of debt (remunerated based on short-term floating rate) Breakdown of LT gross financial debt by currency
Slide 38: H1 2026 Traffic details
H1 2026 Traffic details VINCI
Slide 39: VINCI Airports traffic
VINCI Airports traffic H1 Change Passenger traffic (in thousands of pax)* 2026 H1 26/H1 25 Portugal (ANA) 34,818 +2.6% Portugal (ANA) 34,818 +2.6% o/w Lisbon 17,444 +1.3% o/w Lisbon 17,444 +1.3% United Kingdom 30,467 -1.5% o/w London Gatwick 19,056 -4.7% o/w Edinburgh 8,193 +5.4% o/w Belfast Interna
Slide 40: VINCI Autoroutes traffic
VINCI Autoroutes traffic VINCI Autoroutes - Rolling twelve-month traffic over 10 years H1 2026 VINCI Autoroutes traffic CAGR Q2 2026/ 120 Q2 2016 Total HV +1.5% -2.9% -3.7% +1.6% 115 French GDP* +1.2% Δ H1 2026/H1 2025 110 Total +0.8% 105 LV +0.7% Of which: 100 ASF 95 -3.0% -3.8% +1.2% 90 85 Escota
Slide 41: VINCI Highways traffic
VINCI Highways traffic Change H1 Traffic (in millions of km travelled) H1 26/ 2026 H1 25 Total fully consolidated subsidiaries Lima Expresa (Peru) 404 -1.4% Rion-Antirion bridge (Greece) 7 +0.6% Via Sumapaz (Colombia) 637 +27% Entrevias (Brazil) 1,058 +1.9% Via Cristais (Brazil)* 753 ns Denver North
Slide 42: Other information: Back-up of the 2025 performance
Other information Back-up of the 2025 performance
Slide 43: 2025 Group's key figures broken down by business
2025 Group’s key figures broken down by business REVENUE EBITDA EBIT 3% 16% 14% Concessions 45% Energy Solutions 24% 16% 21% Construction €74.6 bn €13.5 bn €9.6 bn Holdings 40% 60% 62% NET INCOME FREE CASH FLOW CAPITAL EMPLOYED -3% 3% 3% 17% 24% 16% 1% 26% €4.9 bn 17% €7.0 bn €58.2 bn * Of which: VI
Slide 44: VINCI's exposure to megatrends
VINCI’s exposure to megatrends 2025 2025 Electricity ~€11 billion ~€19 billion Rail ~€6 billion ~€11 billion Defence ~€2 billion ~€3 billion Water ~€3 billion ~€3 billion Digital ~€7 billion ~€6 billion Healthcare ~€2 billion ~€2 billion 44 2026 FIRST HALF RESULTS
Slide 45: Order intake breakdown by business lines and granularity
Order intake breakdown by business lines and granularity FY FY Change In € billions 2025 2024 25/24 VINCI Energies 22.3 22.1 +1% Order intake <€5 m 18.7 17.9 +4% Order intake <€50 m 3.2 2.9 +12% Order intake >€50 m 0.4 1.4 -68% Cobra IS 8.6 10.4 -17% Order intake <€5 m 4.1 4.2 -3% Order intake <€50
Slide 46: VINCI core countries
VINCI core countries Δ FY 2025/FY 2024 countries 70% of revenue France France 30.8 +2% 41% +2.0% of VINCI total revenue UK 7.4 +10% Organic +1.7% Germany 6.5 +17% Scope +0.2% 44% Spain 3.8 -1%* of VINCI net income USA 3.4 +4% countries 84% of Canada 2.0 Outside France revenue Portugal 1.9 Brazil 1.8
Slide 47: A growing international presence
A growing international presence 2015 revenue geographic breakdown 2025 revenue geographic breakdown 6% 13% 6% 4% 5% 5% 2% INCREASED INTERNATIONAL 4% 41% €38.5 bn EXPOSURE €74.6 bn 58% 21% 34% 2015 Revenue CAGR 2015/2025 2025 Revenue France €22.4 bn +3.2% €30.8 bn International €16.1 bn +10.5% €43.8
Slide 48: Energy Solutions, VINCI Airports and other concessions generate more Ebitda than VINCI Autoroutes
Energy Solutions, VINCI Airports and other concessions generate year after year more Ebitda than VINCI Autoroutes €13.5 bn Group Ebitda breakdown in 2025 in details €0.3 bn / 3% €2.2 bn / 16% +€9.5 bn €4.0 bn +29% Group Ebitda breakdown +22% excl. TEITLD 1 in 2006* +€2.4 bn €2.8 bn / 21% +€3.3 bn +€
Slide 49: Capital allocation strategy execution
Capital allocation strategy execution Wrap-up of the last 3 years (2023-2025) Mobility infra concessions (In € billions) CAPEX Of which (3.9) (11.4)* Energy assets • EnR portfolio of Zero.e, low double-digit IRR*** (2.7) • Electricity transmission lines PPP, low double-digit IRR*** Mobility AIRPORTS
Slide 50: Steady ROCE and ROE
Steady ROCE and ROE 2025 excl. the increase in corporate tax in France 18.6% 18.1% 17.9% 17.3% 16.4% 12.4% 11.3% 11.4% 11.6% 10.7% 9.2% 6.7% 2021 2022 2023 2024 2025 2025 ROCE ROE Return on capital employed (ROCE) is operating income after tax excluding non-recurring items (NOPAT), divided by the av
Slide 51: EU Taxonomy – 2025 performance overview
EU Taxonomy – 2025 performance overview 48% 26% of eligible revenue of aligned revenue Most contributing sectors to the eligibility and alignment of VINCI’s activities in 2025: • Transmission and distribution of electricity • Infrastructure for rail transport • Activities related to the energy perfo
Slide 52: 2025: improved performance across climate, resources and natural environments pillars
2025: VINCI delivers improved performance across its climate, resources and natural environments pillars Optimise resources thanks Preserve natural Target Performance Act for the climate 2030 2025 to circular economy environments 2030 2025 PERFORMANCE 2030 2025 PERFORMANCE 2030 2025 PERFORMANCE AMBI
Slide 53: VINCI's ESG ratings
VINCI’s ESG ratings 2025* 2024 CDP Climate A A- A 25.4 – Medium risk 6 airports achieved CDP Water Net Zero emissions for B B Scopes 1 and 2 Security CDP Forest B C *Note: • A score: demonstration of environmental B- 51 leadership and science-based climate action across all operations and the value
Slide 54: VINCI's social performance in 2025
VINCI’s social performance in 2025 Aiming for all-round performance and sharing the benefits of our performance with our stakeholders 4,000 76% 24.3% 7,053,383 More than 87% long-term unemployed female managers in 2025 hours of training provided of all employees can of companies without lost- (vs 18
Slide 55: Business line profiles
Business line profiles VINCI
Slide 56: Concessions
Concessions VINE! “~
Slide 57: Concessions profile
Concessions profile Revenue and Ebitda margin over the last 5 years 11.7 12.2 10.9 9.2 7.0 66.4% 67.7% 68.3% 66.7% 66.9% 2021 2022 2023 2024 2025 Revenue (€bn) Ebitda margin 2025 revenue by geographical area 5% 11% France Portugal 15% UK €12.2 bn 58% Americas 11% RoW 57 2026 FIRST HALF RESULTS
Slide 58: Concessions capex forecasts
Concessions capex forecasts* Data in € millions VINCI Airports 2,000 Rest of world & misc. 1,800 Brazil 1,600 Dom. Rep. (Aerodom) 1,400 France 1,200 Mexico (OMA) 1,000 Portugal (ANA) 800 UK (Gatwick + Edinburgh + Belfast Int’l) 600 400 200 VINCI Autoroutes 0 2026e 2027e 2028e * Forecast as of 31 Dec
Slide 59: VINCI Airports
VINCI Airports The world’s largest private airports operator The most geographically diversified airport operator 3 United +70* 4 Kingdom 1 USA Hungary 11 France Platforms 6 Dominican 10 1 Republic Portugal Serbia 3 in 13 Japan México 7 1 14* Cabo Verde CostaRica 2 countries Cambodia 8 Brazil 1 * As
Slide 60: VINCI Airports P&L
VINCI Airports P&L (in € millions) FY 2025 FY 2024 Δ 2025/2024 Δ (€m) Revenue 4,796 4,526 +6.0% +270 o/w Aero 3,259 3,108 +4.8% +151 o/w Non-Aero 1,537 1,417 +8.4% +120 Ebitda 3,042 2,883 +5.5% +159 % of revenue 63.4% 63.7% Operating income from ordinary activities (Ebit) 2,459 2,334 +5.4% +126 % of
Slide 61: VINCI Airports: main 2025 financial KPI by asset
VINCI Airports: main 2025 financial KPI by asset o/w Ebitda Net Debt / 2025 (in € millions) Revenue o/w Aero Ebitda Capex Net Debt Non-Aero margin Ebitda UK 1,823 1,037 786 1,086 60% (330) (7,121) 6.6 of which London Gatwick 1,321 775 546 785 59% (226) (5,303) 6.8 of which Edinburgh 419 235 184 268
Slide 62: VINCI Airports network (1/2)
VINCI Airports network (1/2) As of 31st December 2025 End of VINCI Traffic Country Name Description mpax in 2025 Consolidation concession share risk London Gatwick Freehold 42.8 - 50.01% Yes Full consolidation UK Edinburgh Airport Freehold 17.0 - 50.01% Yes Full consolidation Belfast International F
Slide 63: VINCI Airports network (2/2)
VINCI Airports network (2/2) As of 31st December 2025 End of VINCI Traffic Country Name Description mpax in 2025 Consolidation concession share risk Sihanoukville Concession Yes Full consolidation Cambodia 5.5 2040 70% Management Techo International (Phnom Penh) No Full consolidation contract 4 airp
Slide 64: VINCI: the world leading motorway operator
VINCI The world leading motorway operator UK Canada ~1,260 km**Germany ~8,200* ~250 km Ireland ~230 km Czech Republic Toll operator ~50 km USA Portugal Slovakia India km ~15 km France ~50 km ~30 km ~4,450 km Greece Toll operator in ~510 km 14* Colombia ~140 km Peru Brazil ~25 km countries ~1,200 km
Slide 65: VINCI Autoroutes
VINCI Autoroutes France’s leading toll road concession operator 4,443 km approx. 50% >35% under concession of conceded French of total motorway toll roads network in France Intercity (1) network ASF Cofiroute End of concession Apr. 2036 Feb. 2032 Jun. 2034 Dec. 2086 Dec. 2070 Jan. 2070 ESCOTA A19-Ar
Slide 66: VINCI Autoroutes: Contractually CPI-linked tariffs
VINCI Autoroutes Contractually CPI-linked tariffs Contractual framework of toll increases (LVs) Cofiroute ASF Escota Intercity Network 2026* 0.62% 0.62% 1.21% 2027-2030 70% x i 70% x i 83% x i + 0.173% After 2030 70% x i 70% x i 83% x i i = Consumer price index excl. tobacco products at end October
Slide 67: VINCI Highways: main 2025 financial KPI by asset
VINCI Highways: main 2025 financial KPI by asset Ebitda Net debt / 2025 (in € millions) Revenue Ebitda Capex Net Debt margin Ebitda Lima Expresa (Peru) 140 93 66% (5) (517) 5.6 Rion-Antirion bridge (Greece) 58 48 83% (1) (15) 0.3 Via Sumapaz (Colombia) 32 1 4% 89 (744) Traffic-risk concessions Entre
Slide 68: VINCI Highways (1/2)
VINCI Highways (1/2) As of 31 December 2025 st End of VINCI Traffic Country Type Name Description Consolidation concession share risk Road Infrastructure Motorway A7 Bockenem-Göttingen 60 km 2047 50% no Equity method Motorway A4 Horselberg 45 km 2037 50% yes Equity method Germany Motorway A9 Thuring
Slide 69: VINCI Highways (2/2)
VINCI Highways (2/2) As of 31 December 2025 st End of VINCI Traffic Country Type Name Description Consolidation concession share risk Bridges & Tunnels Tunnel Prado Carénage 2.5 km road tunnel, Marseille 2033 34.2% yes Equity method France Tunnel Prado Sud 1.5 km road tunnel, Marseille 2055 58.5% ye
Slide 70: Other concessions
Other concessions As of 31st December 2025 VINCI Stadium VINCI Traffic Country Type Name Description End of concession Consolidation share risk Stadium Marie-Marvingt 25,000 seats, Le Mans 2044 100% yes Full consolidation France Stadium Allianz Riviera 36,000 seats, Nice 2041 50% yes Equity method V
Slide 71: Energy Solutions
Energy Solutions VINE! “~
Slide 72: Energy Solutions profile
Energy Solutions profile Revenue and Ebit margin over the last 4 years 29.6 25.8 27.5 22.3 7.6% 7.4% 7.1% 7.0% 2022 2023 2024 2025 Revenue (€bn) Ebit margin 2025 revenue by geographical area 4% 8% France 8% 29% Germany €29.6 bn Rest of Europe Latin America 34% 17% North America RoW 72 2026 FIRST HAL
Slide 73: VINCI Energies
VINCI Energies Making energy transition and digital €70 k ~2,200 Business units Average contract size transformation a reality 2025 revenue by geographical area Revenue and Ebit margin over the past 5 years 21.6 4%4% France 19.3 20.4 5% 16.7 Germany 15.1 40% Scandinavia 7.0% 7.2% 7.4% 6.5% 6.8% 25%
Slide 74: VINCI Energies
VINCI Energies Making energy transition and digital transformation a reality Infrastructure Industry Building Solutions ICT (energies and transport) (Information Communication Technology) Transport infrastructure: technical Process control and automation Electrical systems Telecommunication and ente
Slide 75: VINCI Energies: revenue details by business line
VINCI Energies: revenue details by business line €6.8 bn €4.9 bn €6.1 bn €3.8 bn +6% +8% +8% +1% Infrastructure Industry Building Solutions ICT Energy infrastructure Electrical engineering Electrical engineering Telecom infrastructure €6.0 bn €2.1 bn €2.0 bn €1.5 bn Power Transmission Mechanical, th
Slide 76: Cobra IS
Cobra IS A leading company in applied industrial €285 m 535 Business units Average contract size engineering and specialised services and in EPC projects a global player in the energy sector 2025 revenue by geographical area 4% Portfolio of Zero.e: renewable 3% 9% Spain Revenue and Ebit margin energ
Slide 77: Cobra IS
Cobra IS A leading company in applied industrial engineering and specialised services and a global player in the energy sector Flow business EPC Projects Networks Facilities Control systems Integrated projects Design, engineering, supply and construction of Construction, installation and maintenance
Slide 78: Construction
ion Y O =) . aw) 7) Cc {e) UO VINCI
Slide 79: VINCI Construction
VINCI Construction €450 k ~1,300 Business Units France’s leading construction company Average contract size and a major global player 2025 revenue by geographical area Revenue and Ebit margin over the past 5 years 3% France 32.1 5% 2% 31.5 31.8 UK 29.3 26.3 15% Central & Eastern Europe 44% Rest of E
Slide 80: VINCI Construction
VINCI Construction France’s leading construction company and a major global player Building Civil works Roads Networks Roadworks Non residential / Residential Civil engineering Rail works Maintenance and management of roads and Refurbishment / New build Geotechnical engineering Earthworks motorways
Slide 81: VINCI Immobilier
€1.3 bn 2025 managed revenue* VINCI Immobilier Presence in 26 cities in France Revenue over the past 5 years (+ in Monaco and Poland) 1.6 1.5 1.2 1.1 1.1 2025 reservations by destination Buy to let private investors 12% 2021 2022 2023 2024 2025 Revenue – non residential (€bn) 20% Social, Revenue – r
Slide 82: Notes
Notes 82 2026 FIRST HALF RESULTS
Slide 83: Notes
Notes 83 2026 FIRST HALF RESULTS
Slide 84: Team
Team Agenda 13 October 2026 Interim dividend (€1.10 per share) ex-date 15 October 2026 Interim dividend Grégoire THIBAULT Marie RICHARD Antoine BASTIEN Céline LOUVET (€1.10 per share) payment date Head of investor relations Deputy head of Investor relations officer Investor relations assistant & fin