Slide 1: 9 Months Results Fiscal Year 2025/26
9 Months Results Fiscal Year 2025/26 20 January 2026 1
Slide 2: Disclaimer
Disclaimer ● This presentation contains forward-looking statements which are based on current plans and forecasts of Alstom’s management. Such forward-looking statements are relevant to the current scope of activity and are by their nature subject to a number of important risks and uncertainty facto
Slide 3: €20bn of orders in the first 9 months of FY 2025/26 taking backlog to €100bn
€20bn of orders in the first 9 months of FY 2025/26 taking backlog to €100bn 1.4 1.8 2.0 Group BtB in the first Rolling Stock BtB in Group BtB in Q3 nine months the first nine months €20.0bn €20.0bn €20.0bn AMECA €0.3bn €2.3bn SIGNALLING €15.2bn AMERICAS €6.0bn €3.9bn SERVICES €1.1bn SYSTEMS ASIA PA
Slide 4: Record €9.6bn orders in Q3 highlighting the success of established and emerging Rolling Stock platforms
Record €9.6bn orders in Q3 highlighting the success of established and emerging Rolling Stock platforms as well as bundled solutions €1.4bn €393m EUROPE – FRANCE EUROPE – GREECE 30 Avelia Horizon trainsets for Eurostar as part of 23 Coradia Stream trainsets for Hellenic Train a framework agreement w
Slide 5: Continuous operational focus as several large projects await final homologation approval
Continuous operational focus as several large projects await final homologation approval Continuous industrial Several critical First MF19 metro in service footprint evolution homologation processes with Île-De-France with new Avelia Horizon underway, including Avelia Mobilités, with phased lines, c
Slide 6: Stable production volumes, positive mix
Stable production volumes, positive mix 5,000 Q3 production pick-up in Sri City (metros) and 4,300-4,400 4,500 in Germany (EMUs) offset by seasonal slowdown in South Africa 4,000 3,500 Compared to the prior year, Germany’s 3,078 output continues to increase. Production 3,000 dropping as planned in M
Slide 7: Q3 growth trending towards full-year outlook
Q3 growth trending towards full-year outlook 3.0% reported growth ROLLING STOCK: €7.2bn 5.9% €13.9bn (+3% vs 9M 2024/25, o/w +6% organic growth) 8.6% €13.5bn Consistent performance in France, Germany, the US 7.2% €12.9bn and Italy (3.3%) (0.8%) SERVICES: €3.4bn (+5% vs 9M 2024/25, o/w +9% organic gr
Slide 8: FY 2025/26 outlook confirmed
FY 2025/26 outlook confirmed FY 2025/26 ASSUMPTIONS FY 2025/26 OUTLOOK Group book-to-bill 1. Supportive market demand Rolling Stock book-to-bill >1 2. Car production stable vs. FY 2024/25 Organic sales growth above 5% 3. R&D around 3% of sales Adjusted EBIT margin around 7% 4. Mitigating US tariffs
Slide 9: Contacts & Agenda
Contacts & Agenda CONTACTS AGENDA 13 May 2026 Cyril Guérin FY 2025/26 Full-Year results VP Investor Relations and M&A 9 July 2026 Guillaume Gauvillé General assembly Head of Investor Relations 22 July 2026 First quarter FY 2026/27 investor.relations@alstomgroup.com orders and sales © ALSTOM SA 2025.
Slide 10: Q&A session
Q&A session 10
Slide 11: Appendix
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Slide 12: Sales - Reported vs Organic figures by quarter
Sales - Reported vs Organic figures by quarter FY 2024/25 FY 2025/26 Reported growth Q1 Q2 Q3 Q4 Q1 Q2 Q3 Rolling Stock 1.9% 1.1% 6.0% 5.3% 3.3% 2.6% 4.2% Services 12.2% 9.1% 6.5% -4.2% -0.3% 6.4% 8.3% Systems 4.5% 8.1% 47.4% 21.6% 24.9% -13.4% -15.4% Signalling 6.4% -5.3% -5.3% 3.7% -5.3% 15.2% 1.9
Slide 13: Appendix - Non-GAAP financial indicators definitions (1/3)
Appendix - Non-GAAP financial indicators definitions (1/3) This section presents financial indicators used by the Group that are not defined by accounting standard setters. • Orders received A new order is recognised as an order received only when the contract creates enforceable obligations between
Slide 14: Appendix - Non-GAAP financial indicators definitions (2/3)
Appendix - Non-GAAP financial indicators definitions (2/3) ● EBIT before PPA Following the Bombardier Transportation acquisition and with effect from the fiscal year 2021/22 condensed consolidated financial statements, Alstom decided to introduce the “EBIT before PPA” KPI aimed at restating its Earn
Slide 15: Appendix - Non-GAAP financial indicators definitions (3/3)
Appendix - Non-GAAP financial indicators definitions (3/3) ● Gross margin % on backlog Gross Margin % on backlog is a KPI that presents the expected performance level of firm contracts in backlog. It represents the difference between the sales not yet recognized and the cost of sales not yet incurre
Slide 16: www.alstom.com
www.alstom.com www.alstom.com www.alstom.com www.alstom.com 16