Slide 1: 9M.2025 Results
9M.2025 RESULTS Grassobbio, November 7th, 2025 1
Slide 2: 9M.2025 Results agenda
9M.2025 RESULTS TESMEC GROUP AT A GLANCE HIGHLIGHTS, GROUP FINANCIALS & KEY METRICS 2025 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: Drivers: Innovation, Diversification & Growth
STRATEGIC VALUE-ADDED SOLUTIONS AND MONITORING SYSTEMS DRIVERS DELIVERING HIGH PERFORMANCE ON COMPLEX PROJECTS INNOVATION, • Growing long-term trends in cross-cutting development drivers: DIVERSIFICATION energy transition, sustainability and digitalization • Selective approach on key growth sectors:
Slide 6: Market Drivers: Transform to Grow
IOT, BIG DATA AND ARTIFICIAL INTELLIGENCE MARKET • Combine Operational Data in the cloud and apply Advanced Analytics • DRIVERS Diagnostic and Digitalization for the Predictive Maintenance • Robotization, Connectivity and Servitization • Cyber Security and Blockchain TRANSFORM TO GROW ENERGY TRANSIT
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
9M.2025 RESULTS HIGHLIGHTS, FINANCIALS & KEY METRICS 8
Slide 9: 9M.2025 Highlights
9M.2025* HIGHLIGHTS WHAT WORKED WELL ▪ IMPORTANT REDUCTION OF NET FINANCIAL WHERE WE ARE POSITION VS SEP.2024 (-40€M) AND MAKING PROGRESS DEC.2024 (-11€M), WITH STRENGTHENED FINANCIAL FLEXIBILITY THANKS TO THE WHAT COULD 55€M REFINANCING OPERATION FINALIZED AT SEP-END ▪ PROFIT BEFORE TAXES / FOREX V
Slide 10: 1Q 2025 Highlights
9M.2025 HIGHLIGHTS 1Q 2025 HIGHLIGHTS HIGH SPEED LINE- Egypt Commissioning of a Vehicle Set for the Electrification of the Strengthened the presence in the Oil&Gas industry in LATAM New EVO range launched for wiches and machines models Workshop session focused on recent European blackouts and how Te
Slide 11: 9M.2025 Profit & Loss Statement
9M.2025* PROFIT&LOSS STATEMENT PROFIT & LOSS 9M.2025 9M.2024 Δ Δ% (€M) ACTUAL PRO-FORMA ▪ REVENUES growing by 7%, driven by high growth, higher- value added segments: Energy sector acceleration and REVENUES 192,2 179,7 12,6 +7,0% positive contribution of the Rail division EBITDA 31,4 29,3 2,0 +6,9%
Slide 12: 9M.2025 Statement of Financial Position
9M.2025* STATEMENT OF FINANCIAL POSITION SEP.30, DEC. 31, SEP.30, Δ SEP.30, 2025 VS Δ SEP.30, 2025 VS €M 2024 2024 2025 DEC.31,2024 SEP.30, 2024 KEY VARIATIONS VS. DEC. 31, 2024: NET WORKING CAPITAL 102,2 99,8 82,2 (17,6) (20,0) ▪ 17,6€M decrease in NWC FIXED ASSETS 125,0 106,9 102,5 (4,3) (22,5) ▪
Slide 13: 9M.2025 Net Financial Position Evolution
9M.2025* NET FINANCIAL POSITION EVOLUTION (€M) 200 150 147,0 33,8 17,6 30,0 136,0 3,4 100 113,2 2,7 106,0 11,2 50 0 Dec. 31, 2024 IFRS16 Net debt NWC OFCF CAPEX EQUITY ADJ.** Net debt IFRS16 Sep. 30, 2025 31/12/2024 30/09/2025 €M Sep. 30,2024 Dec. 31,2024 Jun. 30,2025 Sep. 30,2025 Inventories 102,7
Slide 14: Trenchers: 9M.2025 Facts & Figures
TRENCHERS: 9M.2025* FACTS & FIGURES (€M) KEY FACTS 100 87,1 85,1 ▪ USA: performance in line with budget and ongoing 80 monitoring of tariff developments ▪ South America: significant deals closed with major 60 customers in Argentina and business development expansion 40 14,9 ▪ North Africa: important
Slide 15: Rail: 9M.2025 Facts & Figures
RAIL: 9M.2025 FACTS & FIGURES (€M) KEY FACTS 60 50 37,2 ▪ Milestone for the diagnostic of the Italian railway network 40 34,3 with the first "Type 4“, manufactured by Tesmec: strategic 30 value for the country, making maintenance smarter and more preventative means greater safety, punctuality and 20
Slide 16: Energy: 9M.2025 Facts & Figures
ENERGY: 9M.2025 FACTS & FIGURES (€M) KEY FACTS 80 69,9 70 Stringing 58,2 ▪ Strong progress on strategic opportunities in UK and 60 Saudi Arabia, with solid visibility on US market trends 50 ▪ Promising prospects in Australia, including potential for railway skid solutions 40 ▪ Continued focus on pro
Slide 17: 9M.2025 EBITDA Trend by BU
9M.2025* EBITDA TREND BY BU (€M) 50 40 +4,5 (4,1) +1,6 30 Volumes 31,4 29,3 growth, Revenues' supply chain Lower 20 growth, efficiency, volumes, favourable operating unfavorable mix and mix, higher 31,4 leverage 25,2 26,9 value-added destocking 10 contracts effect 0 Pro-forma 9M.2024 Trencher Railwa
Slide 18: 9M.2025 KPI
9M.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 Europe; Africa; 15% Rail 16% 96€M Energy Middle
Slide 19: 2025 Business Guidelines
2025 BUSINESS _~ GUIDELINES™ TESMEC
Slide 20: Technologies for Infrastructures
ENERGY HIGH-GROWTH, PROPRIETARY TRANSITION AND ADDED VALUE TECHNOLOGIES, INFRASTRUCTURE TECHNOLOGY- UNIQUE COMPETITIVE DIGITALIZATION DRIVEN SECTORS POSITION ENERGY, PREMIUM POSITIONING, TECHNOLOGIES FOR DIGITALIZATION SUSTAINABILITY TELECOMMUNICATIONS, COMPETITIVE EDGE, SAFETY TRANSPORTATION, AND H
Slide 21: 2025 Outlook
2025* OUTLOOK (€M) LEVERAGING PROPRIETARY TECHNOLOGIES AND A 17,2% 41,1 STRONG, COMPETITIVE VALUE PROPOSITION TO SEIZE 153,5 OPPORTUNITIES IN HIGH-GROWTH, HIGH-VALUE 14,5% 147 245,2 236 239,5 35,2 13,9% MARKETS 153,5 ▪ Strong positioning in energy transition and infrastructure 32,8 128,4 194,3 14,5%
Slide 22: Business Guidelines - Trenchers
BUSINESS GUIDELINES - TRENCHERS STRENGTHENING THE POSITION IN THE OIL & Strenghening the GAS INDUSTRY position in the Targeting important upcoming pipeline projects Oil&Gas industry in the USA market, leveraging the strengthened position in the Oil&Gas industry due to new positive market conditions
Slide 23: Business Guidelines - Rail
BUSINESS GUIDELINES - RAIL TESMEC FRANCE: Strategic platform for the growth of French activities in the railway Growth of French sector: development of a specialized center to support the Railway activities business, in France and cross the Francophone market aimed at meeting local needs for railway
Slide 24: Business Guidelines - Energy
BUSINESS GUIDELINES - ENERGY STRINGING AUTOMATION Continue leading the growth and extend the Growth at a fast pace while improving market share, we will implement strategic diversification, exploiting our current portfolio initiatives and innovative solutions. Profitability Digitalization and addres
Slide 25: 9M.2025 Annex
9M.2025 ANNEX TESMEC
Slide 26: Annex: 9M.2025 Summary Profit & Loss Statement
ANNEX: 9M.2025* SUMMARY PROFIT & LOSS STATEMENT PROFIT & LOSS (€ Mln) 9M.2025 9M.2024 PRO-FORMA NET REVENUES 192,2 179,7 Raw materials costs (-) (87,1) (84,7) Cost for services (-) (37,9) (30,7) Personnel Costs (-) (40,5) (39,6) Other operating revenues/costs (+/-) (4,0) (3,8) Non recurring revenues
Slide 27: Annex: 9M.2025 Balance Sheet
ANNEX: 9M.2025* BALANCE SHEET BALANCE SHEET (€ Mln) Sep.30, 2025 Dec.31, 2024 Inventory 95,7 96,1 Work in progress contracts 38,7 36,7 Accounts receivable 56,2 55,4 Accounts payable (-) (98,4) (79,9) Op. working capital 92,3 108,4 Other current assets (liabilities) (10,1) (8,6) Net working capital 8
Slide 28: 9M.2025 Results Conference Call
9M.2025 RESULTS CONFERENCE CALL Friday 7th November, 2025: 2.30 PM CET Diamond Pass Registration ir@tesmec.com Investors | Tesmec 28 9M.2025 RESULTS
Slide 29: 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 30: Tesmec
TESMEC 30