Slide 1: FY 2025 Financial Results
FY 2025 Financial Results 9 April 2026
Slide 2: Key Highlights
Hy Ol Key Highlights
Slide 3: Robust financial performance of core business
Robust financial performance of core business Revenue EBITDA Earnings Per Share €7,107m €753m €2.20 +25.1% (30.2)% (50.6)% (FY24: €5,683m) (FY24: €1,080m) (FY24: €4.46) Liquidity* 2025 Proposed Dividend Net Leverage Ratio* €3.7bn €143m - €1/Sh. 3.1x +6% (30)% (FY24: €3.5bn) (FY24: €206.4m /€1.5 Per
Slide 4: Year in review | Key highlights
Year in review | Key highlights • Our €2bn Medium Term EBITDA target was communicated in our First Capital Markets Day in London • METLEN’s debut on the London Stock Exchange, with secondary listing in ATHEX, and entry into FTSE 100 index • Big THREE transformation, the 3rd era, “Progress in Motion”
Slide 5: Proven resilience in volatile markets
Proven resilience in volatile markets Key Highlights Greece Real GDP(1) and Metlen’s Cumulative TSR(2) €bn 1.100% (3) 250 228 900% 1.255% 230 • Diversified business model, synergies and vertically integrated production model with strict cost control, ensures 700% 210 robust financial position despit
Slide 6: We remain confident in reaching our medium-term targets
We remain confident in reaching our medium-term targets EBITDA FY2025 EBITDA Medium Term (€M)(1,2) Market needs (€M)(2) Renewables, Storage & Energy 86 Green energy, grid ~520 Transition Platform expansion, data centers Fully Integrated Resilience to energy 357 ~590 Energy Utility price volatility I
Slide 7: We are focused on our goal… with significant progress since our April CMD
We are focused on our goal… with significant progress since our April CMD Impact of War in M. East Achievements since the CMD Renewables, Storage & Energy Significantly scaled our BESS and PPA footprint globally, with leading projects in Italy, Chile, South Transition Platform Korea and beyond. Merg
Slide 8: Financial Overview
Hy O2 Financial Overview
Slide 9: Strong revenue performance amid earnings pressure
Strong revenue performance amid earnings pressure Key Highlights (Amounts in €m) FY25 FY24 ∆ • Revenue increased by 25% to €7,107m, Revenue 7,107 5,683 25% primarily fueled by a record RES performance EBITDA 753 1,080 (30%) • EBITDA stood at €753m, down around 30% compared with 2024, materially affe
Slide 10: Energy – Renewables, Storage & Energy Transition Platform (M-RESET)
Energy – Renewables, Storage & Energy Transition Platform (M-RESET) Key Highlights Revenue EBITDA Margin FY25 FY24 ∆ FY25 FY24 ∆ FY25 FY24 • Revenue rose by 26.2% YoY to €2,274m, supported by M-RESET 2,274 1,802 26.2% 86 388 (77.8)% 3.8% 21.5% METLEN’s robust Asset Rotation model performance Total 2
Slide 11: Energy – Fully Integrated Energy Utility
Energy – Fully Integrated Energy Utility Key Highlights Revenue EBITDA Margin FY25 FY24 ∆ FY25 FY24 ∆ FY25 FY24 Fully Integrated Energy Utility 3,911 3,305 18.3% 357 365 (2.3)% 9.1% 11.0% Total 3,911 3,305 18.3% 357 365 (2.3)% 9.1% 11.0% • EBITDA stood at €357m, down 2% YoY, reflecting the impact of
Slide 12: Metals
Metals Key Highlights Revenue EBITDA Margin FY25 FY24 ∆ FY25 FY24 ∆ FY25 FY24 Integrated Aluminium Value Chain 852 821 3.8% 206 286 (28.0)% 24.2% 34.8% • Metals EBITDA stood at €225m, down 24% versus - of which Alumina 206 198 4.1% 79 87 (9.2)% 38.2% 43.9% 2024, driven primarily by higher energy cos
Slide 13: Infrastructure & Concessions
Infrastructure & Concessions Key Highlights Revenue EBITDA Margin FY25 FY24 ∆ FY25 FY24 ∆ FY25 FY24 Infrastructure & Concessions 567 254 123.2% 100 50 100.1% 17.6% 19.7% Total 567 254 123.2% 100 50 100.1% 17.6% 19.7% • Infrastructure & Concessions recorded turnover and EBITDA of €567m and €100m resp
Slide 14: Balance sheet remains strong
Balance sheet remains strong Key Highlights 688 9 3.107 -3 • Net debt of €3.1bn 2.629 232 • Net Debt on an adjusted basis stood at €2.1bn, excluding non-recourse debt and related cash 162 -1 47 • Net leverage of 3.1x -654 • Operating Cash Flow to EBITDA >85% • Total capex of €688m • Dividend payment
Slide 15: Strategy & Operational Review
O3 Strategy & Operational Review
Slide 16: A synergetic powerhouse: Multiplying value through integration
A synergetic powerhouse: Multiplying value through integration The Metals Pillar – Vertical Integration & Cost Leadership Synergetic Loop The Energy Pillar – Efficiency and Flexible Assets Energy to Metals: “Smelter as a battery” Metals to Energy: Price Insulation Stable Smelters act as demand-side
Slide 17: Market overview – Middle East tensions driving market volatility
Market overview – Middle East tensions driving market volatility Rising aluminium premia accelerated by Iran conflict Aluminium price has risen as supply risks increase Key Highlights (USD/t) Price change since December 2024 5.000 950 60% • METLEN has fully hedged its aluminium and alumina 40% 850 +
Slide 18: Outlook
Outlook • 2026 is expected to mark a return to our planned trajectory, with continued delivery against the medium-term targets set out at our Capital Markets Day, subject to ongoing geopolitical developments • Reiterate confidence in medium-term guidance of €1,900-2,080 million of EBITDA in the medi
Slide 19: Appendices
Hy O4 Appendices
Slide 20: Energy Sector at a glance
Energy Sector at a glance METLEN’s RES platform and hedged Greek utility drive profitability growth Global RES Portfolio MW In Operation 1.301 As of end 2025, METLEN’s mature and operational portfolio, reached 6.4GW marking a dynamic increase of 32% compared to 2024. Australia 527 The company’s glob
Slide 21: Financial discipline ensures growth & resilience through the cycle
Financial discipline ensures growth & resilience through the cycle Revenue grew across all divisions, particularly strongly at Energy Net debt (€mm): 390 421 535 803 716 1,453* 1,766* 2,102* 1.200 1,051 1.080 3,5 1.014 Maintenance 1.000 capex: 3,1* 3 c.€137m p.a. level. 823 801 2,2 715 753 2,5 800 6
Slide 22: Performance overview
Performance overview ESG Performance ESG Distinctions Key Scale ✓ METLEN joined, for the 3rd time the LEADERS group of FY 2024 FY 2025 Y-Y ESG Raters (high – low) the MSCI ESG Ratings Index, achieving an excellent ESG performance of “AA”. 100 - 0 66 76 ✓ METLEN is the only Greek-based company, selec
Slide 23: Thank you
Thank you