Slide 1: Q1 2025 Results Presentation
QT’2025 Results Presentation May 12, 2025 FINCANTIERI www.fincantieri.com
Slide 2: Agenda
Slide 3: Q1 2025 key highlights
Q1 2025 Group Performance FINCANTIERL Q1 2025 key highlights Revenues EBITDA Order intake Net debt €min +34.5% 7 +53.5% 7 | 2,376 L 154 11,712 1,668" 1,608 1,767 100 539 Ql 2024 Ql 2025 Ql 2024 Ql 2025 Ql 2024 Ql 2025 FY 2024 Ql 2025 Significant revenue growth, up 34.5% YoY, reaching € 2,376 min, al
Slide 4: Q1 2025 results in line with expectations
Q1 2025 Group Performance Q1 2025 results in line with expectations FINCANTIER! Ql 2025 Revenues € 2.4 bn +34.5% 15.01 2004 EBITDA margin 6.5% +80 bps vs Q1 2024 € 1.6 bn Improving vs Q1 2024 (€ 2.4 bn) and marginally better than FY 2024 (€1.7 bn excl. rights issue)! 1, FY 2024 net debt at € 1,281 m
Slide 5: Best ever order intake and strong total backlog
Q1 2025 Group Performance FINCANTIERL Best ever order intake and strong total backlog equal to 7.1 times FY 2024 revenues Ql 2025 Order intake! € 11.7 bn Book-to-bill 4.9x significantly improving vs Q1 2024 Backlog? € 40.3 bn +30.2% ws Fy 2024 Total backlog? € 57 . 6 bn 7 . 1x FY 2024 revenues
Slide 6: Updated financial segments
Q1 2025 Group Performance Updated financial OFFSHORE AND Segments SHIPBUILDING SPECIALIZED UNDERWATER VESSELS Offshore Electronics susnes | Cuse | | net | Se | f sptlaee [1] Unter | 1 and Ba Areas cr Vessels Products Business Military Vard Offshore Remazel lines /Main [MBVEQCuENI ships subsidiaries
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Slide 8: Business update
Business update Strong order book with visibility up to 2036 FINCANTIER! Total backlog! of € 57.6 bn, equal to 7.1x FY 2024 revenues? Backlog Soft backlog? at € 17.3 bn, further supporting the commercial pipeline 4 ships delivered (2 Cruise, 2 Offshore) with 102 units in backlog Shipbuilding — Cruis
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Slide 10: Record-breaking quarter with order intake at € 11.7 billion
Financial results FINCANTIERL Record-breaking quarter with order intake at € 11.7 billion and book- to-bill at 4.9x Order intake breakdown by segment (min Shipbuilding ™ Offshore and Specialized vessels = Underwater m= ESI mE liminations Shipbuilding at €11,519 min = 4 cruise ships for Norwegian Cru
Slide 11: New record backlog at € 57.6 billion
Financial results FINCANTIERL New record backlog at € 57.6 billion, covering 7.1x 2024 revenues Total backlog! breakdown by segment (€ min) = Shipbuilding m™ Offshore and Specialized vessels ™™ Underwater mm ESI ma Eliminations \2Soft backlog? Backlog ey re = Total backlog at € 57.6 bn, approximatel
Slide 12: Revenues at € 2.4 billion, up 34.5% YoY
Financial results FINCANTIER! Revenues at € 2.4 billion, up 34.5% YoY Revenues breakdown by segment! and (%) of total revenues (€ min) mCruise mm Naval Ship Interiors "Offshore and Specialized vessels mm Underwater mes! m= Eliminations Shipbuilding 1,828 (71.9%) Shipbuilding 1,311 (68.4%) 2,376 770
Slide 13: EBITDA up 53.5%, margin at 6.5%
Financial results FINCANTIERL EBITDA up 53.5% to € 154 min, with margin at 6.5% (+80 bps YoY) EBITDA breakdown by segment! and EBITDA margin (%) (min Shipbuilding ™ Offshore and Specialized vessels = Underwater m= ESI mE liminations Shipbuilding EBITDA at € 125 min, rising by 53.3% YoY, with improvi
Slide 14: Deleveraging path accelerating
Financial results Deleveraging path accelerating Net debt Net Working Capital? breakdown FINCANTIER! (Emin Leverage Ratio LTM 2,413 1,668! 1,608 (€ min) mm Inventories and advances to suppliers ™ Construction contracts and client advances mm Trade receivables mm Other current assets and liabilities
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Slide 16: Concluding remarks
Concluding remarks Concluding remarks Continued economic and financial outperformance on the Business Plan Solid margin increase reaching 6.5% in Q1 2025, with significant revenue and EBITDA growth Record commercial pipeline turning into effective orders Uniquely positioned investment story, underpi
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Slide 18: Investor Relations contacts
Q1 2025 results Investor Relations contacts INSTITUTIONAL INVESTORS investor.relations@fincantieri.it INDIVIDUAL SHAREHOLDERS azionisti.individuali@fincantieri.it FINCANTIER!
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Slide 20: Innovation Inclusion Integrity
Innovation Inclusion Integrity
Slide 21: Focus on Shipbuilding
‘Appendix Focus on Shipbuilding FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex (Emin) (Emin) — (Emin) * Orders: € 11,519 min(€ 141 minin rn Comme) ™ Ql 2024) 1,311 1,828 Kees) = Backlog: € 33,478 min (€ 24,282 min in FY 2024) = Deliveries: 770 = “Norwegian Aqua”, the first Prima Pl
Slide 22: Focus on Offshore and Specialized vessels
Appendix Focus on Offshore and Specialized vessels FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex (Emin) (Emin _ —_ (Emin * Orders: € 102 min (€ 498 min in QL 43%) 17% 2024) None = Backlog: € 1,920 min (€ 2,192 min in FY 2024) = Deliveries: = 1 cable layer for Prysmian = 1 research
Slide 23: Focus on Underwater
‘Appendix Focus on Underwater FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex * Orders: €84min(€13minin@l oe ee) on _ 2024) ~) 0% = Backlog: € 2,836 min (€ 2,300 min in FY 2024) 95 3 95 16 41 7 5 Ql 2024 Ql 2025 Ql 2024 Ql 2025 Ql 2024 Ql 2025 = Revenues at € 95 min (vs € 41 min in
Slide 24: Focus on Equipment, Systems and Infrastructure
‘Appendix Focus on Equipment, Systems and Infrastructure FINCANTIER! Orders, backlog and deliveries Revenues EBITDA Capex Orders: € 164 min (€194miningl “™” Ton) nm = Orders: min minin oy 2024) Cass *) = Backlog: € 2,876 min (€ 2,916 min in FY 2024) 301 5 13 » 5 Ql 2024 Ql 2025 Ql 2024 Ql 2025 Ql 20
Slide 25: Safe harbour statement
Appendix FINCANTIERI Safe harbour statement This Presentation contains certain forward-looking statements. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes," "expects," "predicts," inte
Slide 26: FINCANTIERI
FINCANTIERI