Slide 1: FY 2024 Record-breaking performance
FY 2024 Record-breaking performance Paving the way for 2025-2028 roadmap Christopher Guérin, CEO Jean-Christophe Juillard, Deputy CEO & CFO February 19, 2025 – Paris
Slide 2: Safe Harbour
2024 FULL-YEAR EARNINGS Safe Harbour This presentation contains forward-looking statements which are subject to various expected or unexpected risks and uncertainties that could have a material impact on the Company’s future performance. Readers are also invited to visit the Group’s website where th
Slide 3: Section 01
2024 FULL-YEAR EARNINGS SECTION 01 Nexans 2025 © All right Reserved Page 3
Slide 4: Delivering on our strategic roadmap
2024 FULL-YEAR EARNINGS Delivering on our strategic roadmap PORTFOLIO ROTATION INVESTMENT ORDERS Centelsa AmpaCity global innovation, BorWin6 offshore wind in Colombia design & digital Lab dedicated to Electrification Celtic Interconnector Reka Cables in Finland Third cable-laying vessel Frame-agree
Slide 5: 2024 achievements
2024 FULL-YEAR EARNINGS 2024 achievements OBJECTIVES 2024 TARGETS 2024 PERFORMANCE OUTSTANDING ADJUSTED EBITDA (€670M to €730M previously) IN LINE ADJ. EBITDA MARGIN OUTSTANDING NORMALIZED FREE CASH FLOW (€200M to €300M previously) OUTSTANDING NORMALIZED CASH CONVERSION GHG EMISSIONS OUTSTANDING RED
Slide 6: Strong financial performance
2024 FULL-YEAR EARNINGS Strong financial performance REPORTED EBITDA (€M) AND NORMALIZED FREE CASH FLOW (€M), EBITDA MARGIN (%) FREE CASH FLOW (€M) AND NCCR (%) ROCE (%) NCCR 108% 49% 64% 68% 56% ELECTRIFICATION 14% 22% 29% 26% 26% +74% +100% 454 454 804 393 GROUP 376 665 Normalized 599 free cash fl
Slide 7: 2024 proves the strength of Nexans' Pure Player strategy
2024 FULL-YEAR EARNINGS 2024 proves the strength of Nexans’ Pure Player strategy 2020-2024 ELECTRIFICATION EVOLUTION 2024 PERFORMANCE REPORTED EBITDA (€M) AND EBITDA MARGIN (%) EBITDA MARGIN (%) NCCR (%) +76% 595 13% 73% 468 467 11% 56% 338 13% 240 13% 12% 10% 8% 2020 2021 2022 2023 2024 2024 2024 G
Slide 8: Key milestones reached
2024 FULL-YEAR EARNINGS Key milestones reached New value pool through tech solutions Invest to grow and scale ACQUISITIONS High growth verticals €1.3Bn sales(1) €20Bn Average EV/EBITDA(2) M&A opportunity Geographical 6.4x pre-synergies expansion CENTELSA REKA CABLES LA TRIVENETA CAVI 4.8x post-syner
Slide 9: A decade of strategy, delivering lasting value
2024 FULL-YEAR EARNINGS A decade of strategy, delivering lasting value Nexans performance towards Electrification Electrification profitable model growth momentum VALUE CREATION 2019-2021 2021-2024 2025-2028 Guidance ADJ. EBITDA €463M in 2021 €804M in 2024 €1,150M(+/- €75M) in 2028 +12% vs 2019 +74%
Slide 10: Leadership to drive the next chapter
2024 FULL-YEAR EARNINGS to drive the next chapter Christopher Guerin Chief Executive Officer CEO Vincent Dessale OFFICE Jean-Christophe Juillard Senior Executive VP Deputy CEO Strategic projects & Key accounts GROUP FUNCTIONS BUSINESS GROUP MARKET DIVISION REGIONS Jean-Christophe Juillard Pascal Rad
Slide 11: Section 02
2024 FULL-YEAR EARNINGS SECTION 02 Nexans 2025 © All right Reserved Page 11
Slide 12: Highlights
2024 FULL-YEAR EARNINGS highlights REVENUE GROWTH SOUND BALANCE PORTFOLIO & GOOD VISIBILITY SHEET ROTATION STANDARD SALES HIGH ACQUISITION GROWTH LIQUIDITY BOOSTING ELECTRIFICATION Reported growth Cash on balance sheet Additional current sales in 2024 vs 2023 with La Triveneta Cavi RECORD BACKLOG LO
Slide 13: High contribution from Electrification businesses
2024 FULL-YEAR EARNINGS High contribution from Electrification businesses GROUP ELECTRIFICATION NON-ELECTRIFICATION OTHER ACTIVITIES (MAINLY METALLURGY) ORGANIC GROWTH(1) (%) STANDARD SALES 3,736 4,604 1,750 1,701 1,026 774 (€M) +8.3% 7,078 6,512 1,852 1,591 11.4% 10.6% 12.2% 1.2% 0.3% 12.5% 12.9% A
Slide 14: PWR-Transmission: sales and adj. EBITDA growth driven by capacity expansion
2024 FULL-YEAR EARNINGS Sales and adj. EBITDA growth driven by capacity expansion and strong order intake momentum Robust sales and adjusted EBITDA growth PWR-TRANSMISSION driven by Halden plant, Norway, capacity ADJUSTED BACKLOG expansion completion early 2024. +50% Revolution Wind successful insta
Slide 15: Record adjusted backlog providing multi-year visibility
2024 FULL-YEAR EARNINGS Record adjusted backlog providing multi-year visibility €7.4Bn 8% 15% 4% Adjusted backlog Others (land & Others USA special telecom) of top line secured for 2024-2028 sequence by Market by Customer by Region Charleston and Halden Subsea (interconnection TSOs Rest of the World
Slide 16: Strong performance driven by strategic mix and profitable growth
2024 FULL-YEAR EARNINGS Strong performance driven by strategic mix and profitable growth INNOVATION FROM PRODUCTS TO SOLUTIONS Positive demand mainly driven by robust market conditions translated into a strong Q4 (+8% organic growth). Launch of Adj. EBITDA margin reached the record level INFRACHECK
Slide 17: Record adj. EBITDA highlighting strategic focus and innovation
2024 FULL-YEAR EARNINGS Record adj. EBITDA highlighting strategic focus and innovation INNOVATION Q4 2024 organic growth was +4%. FROM PRODUCTS TO SOLUTIONS Europe suffered from lower demand in Launch of some residential markets, despite MOBIWAY POP smart sustained momentum in commercial and packagi
Slide 18: Section 03
2024 FULL-YEAR EARNINGS SECTION 03 Nexans 2025 © All right Reserved Page 18
Slide 19: All-time high net income up +27% versus 2023
2024 FULL-YEAR EARNINGS All-time high net income up +27% versus 2023 In €M 2023 2024 ADJ. EBITDA EVOLUTION (€M) – GROUP +21% SALES AT CURRENT METAL PRICES 7,790 8,546 SALES AT STANDARD METAL PRICES 6,512 7,078 Organic growth -0.9% +5.1% 804 ADJUSTED EBITDA 665 804 Adj. EBITDA on standard sales (%) 1
Slide 20: Strategic acquisition managed with a disciplined leverage
2024 FULL-YEAR EARNINGS Strategic acquisition managed with a disciplined leverage NET DEBT LAST 12 MONTHS EVOLUTION (€M) Leverage(1) Leverage(1) 0.32x Strategic Capex (121) 0.85x -214 FCF: €313M -681 NET DEBT Cash from Change in Reorganization Capital Other Financial Dividend & M&A IFRS16 & NET DEBT
Slide 21: Two successful bond issuances in 2024
2024 FULL-YEAR EARNINGS Two successful bond issuances in 2024 NET DEBT BREAKDOWN LIQUIDITY AND DEBT REDEMPTION SCHEDULE (€M) TOTAL AVAILABLE In €M DEC 23 DEC 24 LIQUIDITY GROSS GROSS DEBT 1,345 1,935 2,054 DEBT 800 Cash & cash equivalents (1,131) (1,254) 1,935 214 681 Undrawn 800 NET DEBT facility c
Slide 22: 97% TSR over the past 4 years
2024 FULL-YEAR EARNINGS 97% TSR over the past 4 years DIVIDEND/SHARE (€) +117% TOTAL SHAREHOLDER RETURN 2.6 Dividend payout AT DECEMBER 31, 2024(3) 2.3 2.1 ratio(2) 4-year TSR in 2024 1.2 0.7 2021-2024 target 6-year TSR – 2019 2020 2021 2022 2023 2024 PROPOSED DIVIDEND(1) (1) Subject to Nexans Annua
Slide 23: Section 04
2024 FULL-YEAR EARNINGS SECTION 04 Nexans 2025 © All right Reserved Page 23
Slide 24: 2025 guidance reflecting recent changes of scope
2024 FULL-YEAR EARNINGS reflecting recent changes of scope ADJUSTED EBITDA FREE CASH FLOW Excluding future changes of scope Nexans 2025 © All right Reserved Page 24 Page 24
Slide 25: 2025 adjusted EBITDA guidance bridge reflecting changes of scope
2024 FULL-YEAR EARNINGS reflecting changes of scope GROUP ADJUSTED EBITDA, €M €770-850M €804M ~€770M AmerCable divestment & La Triveneta Cavi 12-month contribution Organic growth & 2024 Changes of scope 2024 Pro forma 2025E margin expansion Nexans 2025 © All right Reserved Page 25
Slide 26: Section 05
2024 FULL-YEAR EARNINGS SECTION 05 Nexans 2024 © All right Reserved Page 26
Slide 27: A global player of the energy transition
2024 FULL-YEAR EARNINGS A global player of the energy transition ELECTRIFICATION BUSINESSES 2024 OUR PURPOSE WE ELECTRIFY THE FUTURE STANDARD SALES PWR-TRANSMISSION PWR-GRID PWR-CONNECT OUR VALUES DEDICATED PIONNEERS UNITED PEOPLE OUR PROMISE COUNTRIES SCALE-UP TO STEP-UP OTHER (MAINLY METALLURGY &
Slide 28: Balanced geographic footprint
2024 FULL-YEAR EARNINGS and balanced geographic footprint 19% 47% 65% 74% NORTH AMERICA EUROPE 11% 0.3% OTHERS ELECTRIFICATION OTHERS ELECTRIFICATION 18% 18% PWR-TRANSMISSION PWR-TRANSMISSION €7.1Bn €804m 2024 SALES AT STANDARD 2024 ADJUSTED METAL PRICE 18% EBITDA 21% PWR-GRID PWR-GRID 24% 29% 26% 3
Slide 29: Our strategy
2024 FULL-YEAR EARNINGS Our strategy Distributed Distributed generation generation (Utility scale) (Private) ELECTRICITY DEMAND GROWTH BETWEEN Offshore 2023 AND 2035 Onshore wind wind Residential Datacenters Solar Infra- structures OF CARS WILL BE ELECTRIC BY 2025 Hydro Industrial Centralized Transm
Slide 30: Group Electrification 2028 targets
2024 FULL-YEAR EARNINGS GROUP ELECTRIFICATION ADJUSTED ORGANIC SALES EBITDA 2024-2028 CAGR INCREMENTAL FCF CONVERSION(1) ADJ. EBITDA ROCE DIVIDEND PAYOUT(2) LEVERAGE (1) FCF pre-M&A and equity operations / Adj. EBITDA assuming flat change in WC. (2) Share of recurring net income. Nexans 2025 © All r
Slide 31: Electrification is expected to drive market growth
2024 FULL-YEAR EARNINGS Electrification is expected to PWR-TRANSMISSION PWR-GRID PWR-CONNECT CABLES AND SYSTEMS MARKET (€BN) AND 2023-2028 CAGR (%) +7% +5% p.a. p.a. +10% p.a. €37Bn €94Bn €74Bn €26Bn €26Bn €16Bn c 2023 2028E 2023 2028E 2023 2028E NEW DEMAND DRIVEN BY NEW DEMAND DRIVEN BY NEW DEMAND
Slide 32: Significant progress achieved in 2024
2024 FULL-YEAR EARNINGS Significant progress achieved in 2024 ENVIRONMENT ENGAGEMENT ECOSYSTEMS 2024 2024 2024 DECARBONIZE OUR VALUE CHAIN ENSURE A SAFE WORKPLACE RUN ETHICAL BUSINESS PRACTICES Reduction of GHG Total recordable incident Completion rate of emissions Scope 1&2 38% rate (LTI/MTI) 6.7 c
Slide 33: Carbon emissions reduction is our compass
2024 FULL-YEAR EARNINGS is our compass SCOPE 3 SCIENCE BASED INITIATIVE (SBTi) TARGETS VS 2019 BASE YEAR EMISSIONS UPSTREAM PURCHASE OF FREIGHT RAW MATERIALS Carbon emissions reduction (in %) SCOPE 1 EMISSIONS APPROVED DIRECT INDUSTRIAL OPERATIONS -38% -42% SCOPE 2 -46% EMISSIONS INDIRECT PURCHASE O
Slide 34: Sales and profitability
2024 FULL-YEAR EARNINGS Sales and profitability 2023 2024 YoY YoY Adj. Adj. Current Standard Organic Adj. Current Standard Organic Adj. In €M EBITDA EBITDA Sales Sales growth EBITDA Sales Sales growth EBITDA margin(2) margin(2) %(1) %(1) ELECTRIFICATION 4,476 3,736 -1.5% 467 12.5% 5,518 4,604 +13.0%
Slide 35: Quarterly sales
2024 FULL-YEAR EARNINGS Quarterly sales Q1 2024 Q2 2024 Q3 2024 Q4 2024 YoY YoY YoY YoY Current Standard Organic Current Standard Organic Current Standard Organic Current Standard Organic In €M Sales Sales growth Sales Sales growth Sales Sales growth Sales Sales growth %(1) %(1) %(1) %(1) ELECTRIFIC
Slide 36: Impact of foreign exchange and consolidation scope
2024 FULL-YEAR EARNINGS Impact of foreign exchange and consolidation scope Organic Organic 2023 Currency Scope 2024 Growth growth % ELECTRIFICATION 3,736 38 492 338 4,604 +13.0% → PWR-Transmission 870 (14) 431 - 1,287 +50.3% → PWR-Grid 1,186 (1) 37 22 1,243 +3.1% → PWR-Connect 1,679 54 24 316 2,073
Slide 37: EBITDA and operating income reconciliation
2024 FULL-YEAR EARNINGS In €M 2021 2022 2023 2024 EBITDA (incl. share-based payment expenses - 2021 CMD guidance) 463 599 652 785 EBITDA margin on Standard sales 7.6% 8.9% 10.0% 11.1% IFRS 2 Share-based payment expenses 8 16 13 19 ADJUSTED EBITDA 470 616 665 804 Adjusted EBITDA on Standard sales 7.8
Slide 38: Normalized net income and free cash flow
2024 FULL-YEAR EARNINGS In €M 2023 2024 OPERATING MARGIN 432 566 Cost of debt (net) (59) (55) Other financial income and expense restated (23) (57) Income taxes (incl. impact from normalization adjustments) (96) (126) Minority interests (2) (3) NORMALIZED NET INCOME (GROUP SHARE) 253 325 Proposed di
Slide 39: Debt covenants
2024 FULL-YEAR EARNINGS As of December 31, 2024 In €M DEC 2023 DEC 2024 GEARING RATIO Fixed assets and other non-currentassets 2,611 3,228 1400 Covenant @120% Net debt Gearing(1) 0,9 1300 1200 0,7 of which: goodwill 293 470 1100 1000 900 37% 0,5 Deferred tax assets 129 117 800 700 600 11% 12% 0,3 NO
Slide 40: Definitions
2024 FULL-YEAR EARNINGS Adjusted PWR-Transmission backlog: Backlog adjusted for secured but not yet Organic growth: Standard sales growth as a percentage of prior-year standard sales. Organic implemented Subsea, Land and Special Telecom contracts. growth is a measure of growth excluding the impact o