Slide 1: FY.2025 Results
FY.2025 RESULTS Grassobbio, March 11th, 2026 1
Slide 2: FY.2025 Results agenda
FY.2025 RESULTS TESMEC GROUP AT A GLANCE HIGHLIGHTS, GROUP FINANCIALS & KEY METRICS 2026 BUSINESS GUIDELINES ANNEX
Slide 3: Tesmec at a glance
TESMEC AT A GLANCE, TESMEC
Slide 4: Our Vision, Our Mission
OUR VISION OUR MISSION FOR THE FUTURE FOR THE PLANET COMMITTED TO ENERGY TRANSITION, DIGITALIZATION AND ELECTRIFICATION Technology partner in markets driven by energy transition, digitalization and sustainability with INNOVATIVE, ADDED-VALUE INTEGRATED SOLUTIONS for the construction, maintenance and
Slide 5: Technologies for Infrastructures
ENERGY HIGH-GROWTH, PROPRIETARY TECHNOLOGIES TRANSITION AND ADDED VALUE TECHNOLOGIES, INFRASTRUCTURE TECHNOLOGY- UNIQUE COMPETITIVE FOR DIGITALIZATION DRIVEN SECTORS POSITION DIGITALIZATION ENERGY, PREMIUM POSITIONING, INFRASTRUCTURES SUSTAINABILITY SAFETY TELECOMMUNICATIONS, TRANSPORTATION, AND COM
Slide 6: Long-term growth drivers and Tesmec differentiated solutions
LONG-TERM GROWTH DRIVERS AND TESMEC DIFFERENTIATED INNOVATION SOLUTIONS ENABLE STRONG VALUE CREATION IN COMPLEX INFRASTRUCTURE PROJECTS LEGACY DIGITALIZATION TESMEC INVESTS IN ADVANCED DIGITAL DIGITALIZATION, TECHNOLOGIES TO INNOVATE AND MAINTAIN INDUSTRY RELEVANCE SUSTAINABILITY TESMEC DEVELOPS SUS
Slide 7: Energy ready to unleash energy in all its shades
READY ENERGY-STRINGING • Solutions for power lines ENERGY-AUTOMATION • Telecommunications solutions for HV Grids TO UNLEASH construction & maintenance • Advanced methodologies for • Grid Management: protection and metering solutions ENERGY automating jobsite • Advanced sensors for fault passage • Ze
Slide 8: Highlights, Financials & Key Metrics
FY.2025 RESULTS HIGHLIGHTS, FINANCIALS & KEY METRICS 8
Slide 9: FY.2025 Highlights
FY.2025* HIGHLIGHTS WHAT WORKED WELL WHERE WE ARE ▪ +7,5% Revenue growth and rising contribution MAKING PROGRESS from high-value segments in both Revenue and EBITDA, driven by the structural expansion of the Energy business and positive performance WHAT COULD in Rail ▪ EBITDA slightly lower vs. 2024
Slide 10: FY.2025 Highlights: Quarterly events
FY.2025 HIGHLIGHTS 1Q 2025 HIGHLIGHTS HIGH SPEED LINE- Egypt Commissioning of a Vehicle Set for the Electrification of the Strong upward trend in the pipeline sector throughout the Americas, including both the New EVO range launched for wiches and machines models Workshop session focused on recent E
Slide 11: FY.2025 Profit & Loss Statement
FY.2025* PROFIT&LOSS STATEMENT (€M) PROFIT & LOSS FY.2024 FY.2025 Δ Δ% ▪ REVENUES increasing by 7,5%, driven by structural growth REVENUES 239,5 257,6 18,1 +7,5% of high value-added segments: Energy sector acceleration and positive contribution of the Rail division vs. lower EBITDA 41,1 40,5 (0,6) (
Slide 12: FY.2025 Statement of Financial Position
FY.2025* STATEMENT OF FINANCIAL POSITION (€M) Jun.30, Dec. 31, Jun.30, Dec.31, Δ Dec. 31, 2025 vs 2024 2024 2025 2025 Dec.31,2024 Net Invested Capital decreasing by ~20€M compared to NET WORKING CAPITAL 112,5 99,8 93,3 71,8 (28,0) Dec.2024, also reflecting effects of Groupe Marais final deconsolidat
Slide 13: FY.2025 Net Financial Position Evolution
FY.2025* NET FINANCIAL POSITION EVOLUTION (€M) 147,0 33,8 13,2 28,0 27,6 130,4 113,2 6,0 102,8 4,7 20,1 Dec. 31, 2024 IFRS16 Net debt OCF NWC CAPEX FLEET EQUITY ADJ.** Net debt IFRS16 Dec.31, 2025 31/12/2024 EXCLUDING 31/12/2025 FLEET €M Mar. 31, 2025 Jun.30, 2025 Sep.30,2025 Dec.31,2025 Dec. 31,202
Slide 14: Trenchers: FY.2025 Facts & Figures
TRENCHERS: FY.2025* FACTS & FIGURES (€M) KEY FACTS 111,9 107,6 Finalization of the strategic JV for the Groupe Marais rental business finalized, aimed at generating commercial synergies, optimizing invested capital, and enhancing asset value The reference markets showed differentiated trends, driven
Slide 15: Rail: FY.2025 Facts & Figures
RAIL: FY.2025 FACTS & FIGURES (€M) KEY FACTS 53,4 Milestone deployments of Diagnostic technology 50,4 ▪ Delivery of «Tipo4» vehicles, representing the highest standard of diagnostic capability, a strategic asset for the country (as highlighted by the Customer) and a a strong showcase for other infra
Slide 16: Energy: FY.2025 Facts & Figures
ENERGY: FY.2025 FACTS & FIGURES (€M) KEY FACTS STRINGING 96,6 ▪ Solid order backlog supported by strong market momentum and 77,3 rising energy-infrastructure investments ▪ Balanced market focus, combining value-driven markets with price-driven ones ▪ Technology developments: application diversificat
Slide 17: FY.2025 EBITDA Trend by BU
FY.2025* EBITDA TREND BY BU (€M) 8,0 +0,6 (9,2) Volumes’ increase and favourable mix Volumes and Destocking vs 40,5 41,1 marginality lower volumes growth for and both unfavorable segments, mix with 41,1 Stringing significative acceleration FY.2024 Energy Railway Trencher FY.2025 * The consolidated f
Slide 18: FY.2025 KPI
FY.2025* KPI BACKLOG MARKETS RECURRING BUSINESS • Long- term backlog in Automation and Rail • Recurring: Rental, Projects, Spare Parts, Services (maintenance, revamping & refurbishing, consulting & training), LT backlog; • Non-recurring: Sales of goods Africa; 13% Europe; 17% Middle Rail East; 14% 2
Slide 19: 2026 Guidelines
2026 GUIDELINES _ TESMEC
Slide 20: Building a sustainable, high-value business model
TECHNOLOGY, MARKETS AND BUSINESS MODEL BUILDING A INNOVATION FOR STRATEGIC SELECTIVE MARKET ENHANCED BUSINESS INFRASTRUCTURES EXPANSION MODEL SUSTAINABLE, DIGITALIZATION, ENERGY PREMIUM MARKET FOCUS AND SERVICE AS A DRIVER OF HIGH-VALUE TRANSITION, SUSTAINABILITY AND SAFETY STRATEGIC SUBSIDIARY INTE
Slide 21: 2021-2025 Equity Story and 2026 Outlook
2021-2025* EQUITY STORY and 2026 OUTLOOK ▪ THE GEOPOLITICAL CONTEXT AND ▪ TESMEC MAINTAINS A PRUDENT STANCE ▪ 2026 EXPECTATION: HIGHER VOLUMES, GLOBAL LOGISTICAL–TARIFF WITH STRICT MONITORING OF MARKET EBITDA AND EBITDA MARGIN VS. 2025, PRESSURES CONTINUE TO LIMIT CONDITIONS, COST TRENDS AND POTENTI
Slide 22: Group-wide strategic levers for value creation
GROUP-WIDE STRATEGIC STRATEGIC LEVERS FOR VALUE CREATION ▪ INNOVATIVE PRODUCT PORTFOLIO SUPPORTED BY NEW RANGES, CUSTOM SOLUTIONS AND SPECIALIZED ▪ REVENUE CONCENTRATION AND RISING SHARE IN MAJOR MARKETS, SUPPORTED BY AN OPTIMIZED KNOW-HOW MARKET MIX ▪ GRID DIGITALIZATION THROUGH ADVANCED SOLUTIONS
Slide 23: Annex
FY.2025 ANNEX TESMEC 23
Slide 24: FY.2025 Summary Profit & Loss Statement
FY.2025* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 2025 2024 NET REVENUES 257,6 239,5 Raw materials costs (-) (116,0) (109,0) Cost for services (-) (52,4) (42,7) Personnel Costs (-) (54,5) (53,0) Other operating revenues/costs (+/-) (7,0) (4,7) Non recurring revenues/costs (+/-) - - Port
Slide 25: FY.2025 Balance Sheet
FY.2025* BALANCE SHEET BALANCE SHEET (€ Mln) Dec.31, 2025 Dec.31, 2024 Inventory 87,7 96,1 Work in progress contracts 34,3 36,7 Accounts receivable 61,1 55,4 Accounts payable (-) (103,8) (79,9) Op. working capital 79,2 108,4 Other current assets (liabilities) (7,4) (8,6) Net working capital 71,8 99,
Slide 26: FY.2025 Results Conference Call
FY.2025 RESULTS CONFERENCE CALL Wednesday 11th March, 2026 2.30 PM CET Diamond Pass Registration ir@tesmec.com Investors | Tesmec 2026 FINANCIAL CALENDAR ▪ 11 March 2026 Approval of the statutory draft and consolidated financial statements as of 31st December 2025 ▪ 23 April 2026 Shareholders’ meeti
Slide 27: Disclaimer
DISCLAIMER This presentation has been prepared by Tesmec S.p.A. (“Tesmec”, the “Company” or the “Group”). As used herein, “Presentation” means this document, any oral presentation, the question and answer session and any written or oral material discussed or distributed during the presentation. The
Slide 28: Tesmec
TESMEC 28