Titan S.a. · EURONEXT:TITC
Titan — H1 2026 Earnings Presentation
28 slides from Titan's earnings presentation, Jul 30, 2026
Slide 1: Financial Results H1 2026
T I TA N G R O U P Financial Results H1 2026 Investors’ & Analysts’ Presentation July 30th, 2026 H1 2026 Results – Investors' & Analysts' Presentation 1
Slide 2: Today's Presenters
Today’s Presenters Marcel Cobuz Chair Group ExCo John Ioannou Group CFO H1 2026 Results – Investors' & Analysts' Presentation 2
Slide 3: H1 2026: Strong sales performance with continued margin expansion
H1 2026 Strong sales performance with continued margin expansion Accelerated integration of acquisitions Sales up by 6.9% thanks to overall increased volumes and improved pricing Strong operational performance & cost-saving initiatives offset higher energy costs. EBITDA margin expanded by 40bps. Our
Slide 4: H1 2026 Results
01 H1 2026 Results H1 2026 Results – Investors' & Analysts' Presentation 4
Slide 5: 2026 Q2 & H1 Highlights
2026 Q2 & H1 Highlights Strong performance despite an uncertain market environment Q2‘26 H1‘26 Sales €784m €1,420m CapEx €160m ~€700m LfL1 Q2’25 | +9% LfL1 H1’25 | +7% & Focused on 3 Finalized Q2’25 | +14% H1’25 | +7% Acquisitions maintenance & growth acquisitions EBITDA €174m €312m Liquidity €877m
Slide 6: Group Sales (€m)
Group Sales (€m) Robust Q2 Sales Growth Drives Record Results. Q2 ‘26 represents the 24th consecutive quarter of Sales growth (LfL) EUR m 784 +9% 61 LfL 722 690 (14) 664 58 Q2 2026 (12) Reported +14% 2025 Scope FX 2025 Organic 2026 Scope 2026 effect ’25 LfL Growth LfL effect ’26 1,420 +7% 81 1,329 L
Slide 7: Group EBITDA (€m)
Group EBITDA (€m) H1 EBITDA Growth +9% on Reported and LfL basis supported by Self-Help Measures EUR m 174 +3% 9 164 LfL 165 Q2 2026 (2) 5 (2) 160 Reported +6% EBITDA Margin 23.8% 22.2% 2025 Scope FX 2025 Organic 2026 Scope 2026 effect ’25 LfL Growth LfL effect ’26 +9% 312 LfL 299 13 287 (2) 24 (9)
Slide 8: Sales Volume Highlights
Sales Volume Highlights Sustained organic growth enhanced by M&As Q2 2026 Highlights – H1 2026 Like-for-Like +2% +3% ✓Cement at +7% (LfL flat): +13% • Solid performance in Greece led by 5.3 +9% -4% infrastructure projects. 4.7 6.7 1.7 1.6 • Resilient US sales despite slowdown in -23% 6.2 +8% domesti
Slide 9: H1 2026 Operating Free Cash Flow generation
H1 2026 Operating Free Cash Flow generation Improved Operating Free Cash Flow at €192m. Record cash outflow due to completed acquisitions. EUR m H1 2026 Operating Free Cash Flow €192m 312 13 (88) (45) (160) (675) (663) (5) (14) EBITDA H1 2026 Non-Cash Operating Finance CapEx Acquisitions/ Dividend,
Slide 10: Net Debt and Liquidity profile
Net Debt and Liquidity profile Despite increase in Net Debt; leverage ratio remains at low levels EUR m Group Net and Gross Debt Evolution Debt Maturity Profile Bank Debt Net Debt/EBITDA ratio at 1.4x Gross Debt >75% of the debt carries a longer-term profile & at Fixed rates Bond Net Debt Leases Net
Slide 11: CapEx investments aligned with long-term growth strategic priorities
CapEx investments aligned with long-term growth strategic priorities Deployed €160m – Accelerated CapEx supporting strategic growth initiatives EUR m Major 2026 CapEx Projects Breakdown per Region 160 USA 91 Fly ash beneficiation (MA) 127 Quarry extension (MA) 76 New RMC Portable Plant for Data cent
Slide 12: Overview of Markets Performance
02 Overview of Markets Performance H1 2026 Results – Investors' & Analysts' Presentation 12
Slide 13: USA
USA Resilient cement prices despite import disruptions and softening market conditions Highlights Sales (€ m) -1% • Strong performance despite mixed end-market demand, +3% LfL imports disruptions and geopolitical uncertainty. 753 731 749 (46) 707 18 23 • Mid-Atlantic delivered strong growth, driven
Slide 14: Greece, Western Europe (& Corporate)
Greece, Western Europe (& Corporate) Superior domestic cement pricing as second increase achieved in Q2 Highlights Sales (€ m) +20% • Strong demand in Greece, driven by infrastructure, +11% LfL commercial and selected residential projects. Volume 310 growth across cement, ready-mix and aggregates. 2
Slide 15: Southeastern Europe
Southeastern Europe Strong performance thanks to volume growth and sustained pricing despite continued competitive pressure from imports Highlights Sales (€ m) +7% • Market demand remained resilient at elevated levels. +6% LfL • Sales up 7%, to €211m, driven by robust demand and 211 0 211 197 198 12
Slide 16: Eastern Mediterranean
Eastern Mediterranean Robust domestic price growth in Egypt &Türkiye (in €) drives margin expansion Highlights Sales (€ m) +25% • Strong performance despite regional geopolitical (28) +23% LfL 151 120 40 volatility. (7) 110 (24) (48)89 21 • Sales up 25% (+23% LfL) to €151m; EBITDA up 77% to €41m, wi
Slide 17: Brazil
Brazil Pricing discipline and commercial execution lead to strong EBITDA growth Highlights Sales (€ m) +23% • In 1H26, domestic cement consumption in Brazil grew 61 by 2.3%. In the region where we operate, consumption 50 2 52 9 rose by +7.8%. • Strong housing needs and infrastructure projects contin
Slide 18: FY Outlook
03 FY Outlook H1 2026 Results – Investors' & Analysts' Presentation 18
Slide 19: Outlook: Upgrading 2026 guidance
Outlook Upgrading 2026 guidance, reflecting strong H1 performance and positive momentum into H2 ➢ High single-digit sales growth expecting USA Greece & Western Europe higher volumes. • Economic activity to expand in 2026 at a • EU funding and investments to drive modest pace amid elevated interest r
Slide 20: Appendix
04 Appendix H1 2026 Results – Investors' & Analysts' Presentation 20
Slide 21: Group Income Statement 2026: Reconciliation of reported and LfL figures
Group Income Statement 2026 Reconciliation of reported and LfL figures EUR m H1 H1 YoY Q2 Q2 YoY 2026 2025 Delta 2026 2025 Delta SALES 1,419.7 1,328.6 6.9% 783.6 690.2 13.5% FX impact -51.9 -12.3 Scope effect 2025 (Adoçim) -23.5 -13.6 Scope effect 2026 (Traçim; Vracs de l’Estuaire; Keystone) -80.7 -
Slide 22: Condensed Group Income Statement – H1 2026
Condensed Group Income Statement – H1 2026 Strong financial performance EUR m H1 H1 YoY 2026 2025 Delta Sales 1,419.7 1,328.6 7% Sales LfL 1,339.0 1,253.1 7% Cost of Goods Sold -1,041.4 -983.6 -6% Gross profit 378.3 345.0 10% EBITDA 312.0 286.9 9% EBITDA LfL 299.4 275.4 9% Depreciation/Impairments -
Slide 23: Condensed Group Balance Sheet – H1 2026
Condensed Group Balance Sheet – H1 2026 Strong financial performance EUR m 30.06.26 31.12.25 Property, plant & equipment (PPE) and investment property 2,288.5 1,678.8 Other non-current assets 807.1 554.6 Total non-current assets 3,095.7 2.233,5 Inventories 463.2 405.2 Cash & cash equivalents 215.8 4
Slide 24: Q2 Overview – Sales per region
Q2 Overview – Sales per region +7% +26% +5% LfL +15% LfL 381 389 407 167 371 18 153 (10) 18 133 133 14 0 20 2025 FX 2025 Organic 2026 Scope 2026 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 LfL Growth LfL effect ’26 USA Greece, W.Europe (& Corporate) +11% +33% +10% LfL 83 127 127 +
Slide 25: Q2 Overview – EBITDA per region
Q2 Overview – EBITDA per region -6% +46% -6% LfL +34% LfL 86 (2) 84 28 81 26 2 (5) 79 2 19 19 7 0 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 USA Greece, W.Europe (& Corporate) +3% +32% +2% LfL +22% LfL 19 45 45 46 46
Slide 26: Glossary
Glossary Abbreviations Definitions CapEx: Capital Expenditures Sales (LfL): Sales adjusted for foreign exchange effects and scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France), Traçim (Türkiye) and Keystone (USA). In CCS: Carbon Capture & Storage 2025, scop
Slide 27: Calendar & IR contacts
Calendar & IR contacts Financial Calendar Thank you For more information, please visit our website at https://ir.titanmaterials.com/en 5 November 2026 Publication of Q3 and 9M 2026 results Contacts Spyros Kamizoulis Investor Relations Director ir@titanmaterials.com Share Data Ticker TITC ISIN BE0974
Slide 28: Disclaimer
Disclaimer By accessing this presentation, you acknowledge that you have read, understood and accepted the terms of this disclaimer. This presentation (“the Presentation”) has been prepared by Titan SA (the “Company” and together with its subsidiaries, “the Group”) is being provided for informationa