Slide 1: 2026 Company Presentation
ye DBA 2026|company PRESENTATION
Slide 2: Disclaimer
DISCLAIMER This Investor Presentation (the "Report") has been prepared by DBA Group S.p.A. (the "Company") for informational purposes only. The information contained in this Report is subject to change without notice, and the Company makes no representation or warranty, express or implied, regarding
Slide 3: Agenda
AGENDA 1. COMPANY OVERVIEW 2. FINANCIAL HIGHLIGHTS 3. APPENDIX 3
Slide 4: 1. Company Overview
1. COMPANY OVERVIEW DBA
Slide 5: DBA Group
DBA GROUP DBA Group is an independent holding (group of companies) specialized in Consultancy, Architecture, Engineering and Project Management services and ICT solutions focused on lifecycle management for buildings and infrastructures ~130 500+ 1100+ 9 35 €M ACTIVE SKILLED COUNTRIES YEARS OF SERVI
Slide 6: Manifesto of DBA Group Purposes and Values
MANIFESTO OF DBA GROUP PURPOSES and VALUES We inhabit the world of consulting, architecture, engineering and ICT with passion, audacity and vision. We want to be enablers of innovation and ecological transition, promoters and Purpose facilitators of change, working together with customers and partne
Slide 7: Geographical Presence
Value of Production FY2025 GEOGRAPHICAL PRESENCE 129,8 €M 17 offices in Italy 10 offices abroad 15% 85% PUBLIC PRIVATE 35% DBA OFFICES PROJECT AREAS Italy, Albania, Azerbaijan, Bosnia Angola, Bulgaria, Denmark, Egypt, Estonia, 60% and Herzegovina, Croatia, Georgia, Germany, Greece, Jordan, 5% Monten
Slide 8: Service Provided
SERVICE PROVIDED ARCHITECTURE & ENGINEERING Professional services from conception to A.E.P.M. maintenance of mission-critical works and infrastructure PROJECT MANAGEMENT OFFICE Management of complex projects, integrating process engineering and digital systems to ensure compliance with time and cost
Slide 9: A Simplified Group Structure
A SIMPLIFIED GROUP STRUCTURE ARCHITECTURE, ENGINEERING & PROJECT MANAGEMENT CONSULTING DIGITAL SYSTEMS DBA PRO & PROJEKTI 9
Slide 10: Sectors
SECTORS SECTORS’ CONTRIBUTION 31% BUILDINGS 16% 15% MCI & DATA CENTER ENERGY 11% 14% 13% FY2025 MCI & DATA CENTER 20,7 €M BUILDINGS (Pharma & Healthcare, 19,4 €M Real Estate & Retail, Industrial) IT INFRASTRUCTURES & ENERGY 17,2 €M TELECOMMUNICATION SOLUTIONS TELECOMMUNICATION 18,5 €M TRANSPORT & LO
Slide 11: Overview of the Italian Engineering Market
OVERVIEW OF THE ITALIAN ENGINEERING MARKET 5 €B MARKET CHARACTERISTICS Wide service perimeter Firms offer a broad spectrum: from design and consulting to full TOTAL MARKET VALUE project delivery Blended disciplines Architecture and engineering are deeply interwined, making clear segmentation challen
Slide 12: Overview of the Spanish Engineering Market
OVERVIEW OF THE SPANISH ENGINEERING MARKET MARKET CHARACTERISTICS Expansion of Transport networks 10 €B Continuation of regional metro networks and high-speed rail TOTAL MARKET VALUE in 2024 Urban growth and sustainable Design Urban growth demands efficient Infrastructure creating a need for innovat
Slide 13: Top-Notch Client Base
TOP-NOTCH CLIENT BASE MCI & DATACENTER BUILDINGS ENERGY TELECOMMUNICATION TRANSPORT & LOGISTICS Real Estate & Retail Energy & Utilities TLC Network Central Offices Roads & Airports Generation & Storage Pharma & Healthcare Sustainable Mobility Ports & Dryports Industrial 13
Slide 14: Backlog Visibility as of 31/03/2026
BACKLOG VISIBILITY AS OF 31/03/2026 (€M) GROUP LEVEL DBA ACTUAL IT 9m 2026 2027 onwards 9m 2026 2027 onwards 9m 2026 2027 onwards 129,5 47,2 71,3 82,3 15,9 58,1 55,4 31,3 26,9 3M Revenues + 9M Backlog cover ~ 82% - 84% Value of Production expected in 2026 14
Slide 15: People in DBA Group: Headcount as of 31/12/2025
PEOPLE IN DBA GROUP: HEADCOUNT AS OF 31/12/2025 MAIN INDICATORS 3% 84% 33% 35% 62% 67% PROFESSIONALS 930 Male Female Degree Diploma Other GROUP 24% 19% HEADCOUNT 43% 41% 16% 57% 16% STAFF < 30y 30y - 50y > 50y STEM Staff IT & Other 15
Slide 16: 2. Financial Overview
2. FINANCIAL OVERVIEW DBA
Slide 17: Highlights FY2025
HIGHLIGHTS FY2025 Value of Production reached 129,8 €M in 2025 (+12,1% vs. 2024), driven by both new acquisitions (IFG, Serteco and COMCOM) and in-house activities (Infrastructure, Energy Transition and Mission Critical); EBITDA Adjusted reached 14,0 €M (EBITDA reported at 13,7 €M), up from €12,5M i
Slide 18: FY2025: Key Financial Drivers
FY2025: KEY FINANCIAL DRIVERS VALUE OF PRODUCTION EBITDA ADJUSTED +12,1% +12,2% (€M) 129,8 14,0 115,8 12,5 FY2024 FY2025 FY2024 FY2025 NET PROFIT NET FINANCIAL POSITION +63,8% 5,5 (3,8) 3,4 (9,2) -58,6% FY2024 FY2025 N.F.P/ FY2024 FY2025 EBITDA 0,7x 0,3x 18
Slide 19: Value of Production and EBITDA Adjusted Breakdown
VALUE OF PRODUCTION and EBITDA ADJUSTED BREAKDOWN (€M) +12,1% +12,2% 12,5 14,0 129,8 (10,8%) 115,8 (10,8%) +7,6% 50,7 4,7 3,4 +35,9% 47,1 +40,6% 2,4 0,8 (11,7%) 0,7 1,7 67,0 +14,5% 76,7 8,3 +4,5% 8,7 FY 2024 FY 2025 FY 2024 FY 2025 AEPM CONSULTING DIGITAL SYSTEM AEPM CONSULTING DIGITAL SYSTEM 19
Slide 20: Net Operating Working Capital & Net Capex Breakdown
NET OPERATING WORKING CAPITAL & NET CAPEX BREAKDOWN NET OPERATING WORKING CAPITAL NET CAPEX (€M) 23,3 24,1 1,4 1,5 40,7 42,5 4,5 5,4 3,0 4,0 2,8 3,8 1 2 (20,2) (22,2) M&A Oth. Capex M&A Oth. Capex FY2024 FY2025 FY2024 FY2025 Inventories Trade receivables Trade payables 20
Slide 21: Net Financial Debt Evolution
NET FINANCIAL DEBT EVOLUTION Cash Long term available Debt Long term Cash (€M) Debt available (4,6) 11,0 (6,4) Short term Debt 8,8 11,2 Short term Debt (10,1) (3,8) (4,0) 1,7 (11,7) (1,4) (9,2) (8,8) (1,6) (0,5) 1,3 FY 2024 FCFO M&A OTH. CAPEX DIVIDENDS BUYBACK OTHERS FY 2025 21
Slide 22: 2026 Budget
2026 BUDGET Lower Higher (€M) 134 Value of Production 138 14,5 EBITDA 15,0 (2,0) Net Financial Position* (3,0) * To be considered as net debt The forecasts presented herein are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ material
Slide 23: Final Takeaways
FINAL TAKEWAYS ➢ Solid reputation and reliable track record in engineering services gained in more than 30 years ➢ High retention rate for DBA customers ➢ Growth strategy focused on most promising sectors like MCI Data Centers, Energy Transition and Infrastructures ➢ Agile business model with low Ca
Slide 24: 3. Appendix
3. APPENDIX DBA
Slide 25: FY2025 Financial Highlights
FY2025 FINANCIAL HIGHLIGHTS (€M) FY 2025 FY 2024 FY25 vs FY24 VALUE OF PRODUCTION 129,8 115,8 12,1% Cost of Production (115,8) (102,4) (13,1%) Other Costs (0,3) (1,5) 77,0% EBITDA reported 13,7 12,0 14,2% Non recurring costs 0,4 0,5 (32,2%) EBITDA ADJUSTED 14,0 12,5 12,2% % on Value of Production 10
Slide 26: Mission Critical Infrastructures Data Center
>900 +160/18 2003 DATA CENTER EXPERTS IN THE DC ACTIVE SINCE Mission Critical Infrastructures & POPs SECTOR/ CERTIFIED EXPERTS Data Center >20 >300.000 >550 MAIN CLIENTS TOTAL SQM TOTAL MW IT POWER DATA CENTER (IRIDEOS) PUBLIC INSTITUTIONS, UNIVERSITIES, P.A. (LEPIDA, VSIX, UNI PD, MOSE, INSIEL, ETR
Slide 27: Telecommunication
1995 10 >100.000 ACTIVE SINCE COUNTRIES KM OF FIBER OPTIC Telecommunication NETWORKS >15 >30.000 3 MN MAIN CLIENTS RADIO SITES REAL ESTATE UNITS CONNECTED VIA FIBER OPTICS OPEN FIBER – TIM/FIBERCOP – FASTWEB – VODAFONE - A2A - OPEN FIBER – VODAFONE - HUAWEI – ZTE – WINDTRE – FASTWEB RETELIT/IRIDEOS
Slide 28: Buildings: Real Estate
1999 >1,000 KEYS >1,5 MN ACTIVE SINCE (HOSPITALITY SQM INVOLVED Buildings SECTOR) (REAL ESTATE) Real Estate > € 2,300 MN >2,000 Approx. 1 MN SQM INVOLVED APARTMENTS INVOLVED (OFFICES) (REAL ESTATE) (RESIDENTIAL) RAI HEADQUARTERS, 14 VIALE MAZZINI, ROME OFFICES ON CORSO EUROPA 18-20 IN MILAN • Prelim
Slide 29: Buildings: Retail
2003 6,000 >30,000 JOBS >800 ACTIVE SINCE STORES/BRANCHES IN 100+ INTERESTED Buildings INVOLVED BUILDINGS MUNICIPALITIES IN ITALY Retail 15 >1.5 MILLION SQM >5 MILLION SQM INTERVENTIONS IN MAIN CLIENTS INVOLVED INVOLVED ALL REGIONS OF ITALY (RETAIL) (REAL ESTATE) POSTE ITALIANE, BNL, N.D. BANK, ALLI
Slide 30: Buildings: Pharma
1970 >290.000 Buildings ACTIVE SINCE SQM ADDRESSED Pharma >25 >500.000 MAIN CLIENTS SQM ADDRESSED EDIFICIO 23 – TOSCANA LIFE SCIENCES FARMACEUTICI FORMENTI S.p.A. – ORIGGIO (VA) MASTERPLAN 2025 AND NASAL SPRAY DIVISION • Feasibility study • Master Plan • Safety Coordination • Integrated preliminary,
Slide 31: Buildings: Healthcare
1970 ~300 MN > 100 Buildings ACTIVE SINCE SQM ADDRESSED OPERATING ROOMS Healthcare >15 >940 MN >3 MN MAIN CLIENTS € INVOLVED BEDS INVITALIA – AQ BOX Covid-19 – Hospitals GENERAL REQUALIFICATION OF THE HUMANITAS Saronno, Busto Arsizio, Gallarate, Tradate, – GRADENIGO HOSPITAL COMPLEX Varese, Luino, C
Slide 32: Buildings: Industrial
1970 >500 MN Buildings ACTIVE SINCE SQM ADDRESSED Industrial >20 >350 MN MAIN CLIENTS € INVOLVED STELLANTIS LOGISTIC PARK - WAREHOUSE FRECCIA INTERNATIONAL – NEW PRODUCTION PIEDIMONTE SAN GERMANO S.p.A. FACILITY AND LOGISTICS HUB • Preliminary, final, and • BIM • Preliminary, final, and • Coordinati
Slide 33: Infrastructures
1995 10 >2.500 >400 MN OF TONS OF ACTIVE SINCE COUNTRIES KM OF GOODS HANDLED YEARLY Infrastructures HIGHWAYS IN THE PORTS WE SERVE Roads, Airports, Ports, Dryports >25 >200 >15 MAIN CLIENTS TUNNEL PORTS SERVED BY DESIGNED OUR SOFTWARE ANAS, SPEA, AUTOSTRADE, AVTODOR, GAVIO, ADSP IONIAN SEA – MULTI-P
Slide 34: Energy: Transmission/Transformation
2007 >40 >2.000 Km OF POWER LINES ACTIVE SINCE SUBSTATIONS DESIGNED OR SUPERVISED Energy IN >100 PROJECTS Energy trasmission/transformation 10 >150 ENERGETIC RECHARGING STORAGES POINTS IN ITALY TERNA MINISTRY OF INFRASTRUCTURE – PORT SYSTEM AUTHORITY (ADSP) ITALY ITALY • Consulting and engineering s
Slide 35: Energy: Sustainable Mobility
2003 >6.000 7 ACTIVE SINCE GAS STATION COUNTRIES Energy ADRESSED Sustainable mobility 5 75 >250 MAIN CLIENTS GAS STATIONS GAS STATIONS SERVED NEWLY DESIGNED BY OUR SOFTWARE ENI, API, IP, TOTAL, ERG, Q8 ENI ITALY – ANGOLA ITALY • Engineering and Consultancy Services for • Engineering services for the
Slide 36: Energy: Energy Efficiency
2010 >20 Energy ACTIVE SINCE MAIN CLIENTS Energy Efficiency 2 >500 COUNTRIES ENERGY AUDITED BUILDINGS WINDTRE, VODAFONE, FASTWEB, BT, INSIEL, TIM ENAC ITALY ITALY • Energy Efficiency services for Data Center, • Energy Efficiency audits for 15 Airports Telecommunication Central Offices and PoP BENETT
Slide 37: Energy: Utilities
2005 40 Energy ACTIVE SINCE N. WORKS Utilities 50.000 Mn 4 TOTAL VALUE N. WATER OF WORKS TREATMENT PLANTS BIM, IREN ACQUA ACQUEVENETE ITALY ITALY • Design and Safety management for adjustment • Supervision of works for safety for springs and restructuring of purification plants interception for aque
Slide 38: Digital Systems: Software Products
1998 >250 >200 ACTIVE SINCE GAS STATIONS SAFETY AND CONSTRUCTION Digital Systems SERVED PROJECTS MANAGED >15 >50 Sotware products PORTS SERVED IT NETWORKS RISK-ASSESSED SINFONIST PORT-LINE • Solutions for Asset and Project Management Port Management System • WMS – Warehouse applied to FTTx and Mobil
Slide 39: Digital Systems: IT Infrastructures, Services & Solutions
1989 >100 >50.000 ACTIVE SINCE ENTERPRISE SATISFIED Digital Systems PROJECTS END-USERS 24/7/365 >100 170.000 IT infrastructures, services & Solutions SECURITY OPERATIONS HIGH-LEVEL SERVICES CENTER CERTIFICATES REQUESTS IT Services SAP Solutions • Managed Services • SAP S/4 HANA • ICT outsourcing • S
Slide 40: Thank You!
yi DBA Thank You!