Slide 1: H1 2024 results: +6% organic growth, guidance upgraded
H1 2024 +6% organic growth and strong financial performance led by Electrification businesses 2024 Guidance upgraded Christopher Guérin, CEO Jean-Christophe Juillard, Deputy CEO & CFO July 24, 2024 – Paris
Slide 2: Safe Harbour
2024 FIRST-HALF 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 t
Slide 3: H1 2024 Highlights
2024 FIRST-HALF EARNINGS SECTION 01 H1 2024 Highlights Nexans 2024 © All right Reserved Page 3
Slide 4: H1 2024 Main highlights
2024 FIRST-HALF EARNINGS H1 2024 Main highlights FINANCIAL STRONG FINANCIAL SUPERIOR CASH ROBUST CAPITAL 2 SUCCESSFUL BOND PERFORMANCE IN H1 2024 GENERATION MANAGEMENT EFFICIENCY ISSUANCES 11.6% 46% 20% €575M with a 5-year maturity Group Adj. EBITDA margin Normalized cash conversion Group ROCE €350M
Slide 5: Generating record level of Adj. EBITDA
2024 FIRST-HALF EARNINGS Generating record level of Adj. EBITDA REPORTED EBITDA (€M) AND NORMALIZED FREE CASH ROCE (%) EBITDA MARGIN(1) (%) FLOW (€M) & NCCR (%) ELECTRIFICATION 14% 16% 23% 27% 22% 412 354 GROUP 308 363 21% 281 20% 222 12% 17% 11% 189 14% 162 224% 79% 11% 9% 132 104 46% 7% 6% 59% 34%
Slide 6: Completion of La Triveneta Cavi's acquisition in Italy
2024 FIRST-HALF EARNINGS Completion of la Triveneta Cavi’s acquisition in Italy Enhancing European footprint and product offerings KEY TERMS OF M&A BLUEPRINT THE TRANSACTION FOR SUCCESSFUL INTEGRATION ~ €800M 2023 CURRENT SALES €20M synergies BUILDING run-rate 700 4 30 RENEWABLES ~ €520M PEOPLE UNIT
Slide 7: Unveiling our world-class subsea cable facility
2024 FIRST-HALF EARNINGS Unveiling our world-class subsea cable facility Expanding capacities in Norway and USA 50th 100% ANNIVERSARY RENEWABLE ENERGY POWERED 2x 100+ XLPE CAPACITY NEW JOBS Nexans 2024 © All right Reserved Page 7
Slide 8: We continue to progress on Strategic initiatives
2024 FIRST-HALF EARNINGS We continue to progress on Strategic initiatives Driving value-added solutions INCREMENTAL EBITDA IN ELECTRIFICATION ACTIVITIES – €M Targets Actuals INCREMENTAL CONTRIBUTION STRATEGIC TO ELECTRIFICATION EBITDA INITIATIVES IN H1 2024 vs H1 2023 100 100 +€4M 80 €84M ACTUAL 80
Slide 9: Business Overview
2024 FIRST-HALF EARNINGS SECTION 02 Business Overview Nexans 2024 © All right Reserved Page 9
Slide 10: +6.1% organic growth in H1 2024
2024 FIRST-HALF EARNINGS +6.1% org. growth in H1 2024 Led by Electrification businesses GROUP ELECTRIFICATION BUSINESSES NON-ELECTRIFICATION OTHER ACTIVITIES (INDUSTRY & SOLUTIONS) (MAINLY METALLURGY) ORGANIC GROWTH1 H1 2024 vs H1 2023 +6.1% +14.1% -1.6% -11.8% +9.0% EXCL. OTHER ACTIVITIES 3,546 STA
Slide 11: Generation & Transmission
2024 FIRST-HALF EARNINGS Generation & Transmission Robust growth supported by Strategic investment Robust topline growth driven by the GENERATION & TRANSMISSION ADJUSTED BACKLOG +64%(2 successful completion of the Halden plant ) expansion in Norway, which doubled XLPE technology capacities and bolst
Slide 12: Distribution
2024 FIRST-HALF EARNINGS Distribution Outstanding performance Sustained positive demand dynamics, driven by robust market conditions and +2%(1) strategic contract wins. Europe benefited from increased demand and the securing of new frame agreements, including a SUPERCONDUCTIVITY PARTNERSHIP +20% maj
Slide 13: Usage
2024 FIRST-HALF EARNINGS Usage Sustained performance INNOVATION H1 2024 organic growth driven by the +1%(1) FROM PRODUCTS TO SOLUTIONS stabilization in North America (Canada). Europe suffered from lower demand in some residential markets while Near East Active and & Africa and South America remained
Slide 14: Key Financials
2024 FIRST-HALF EARNINGS SECTION 03 Key Financials Nexans 2024 © All right Reserved Page 14
Slide 15: Strong operational performance: Adj. EBITDA up 16%
2024 FIRST-HALF EARNINGS Strong operational performance Adj. EBITDA up +16% in H1 2024 vs H1 2023 In €M H1 2023 H1 2024 ADJ. EBITDA EVOLUTION (€M) – GROUP +16% SALES AT CURRENT METAL PRICES 4,009 4,224 SALES AT STANDARD METAL PRICES 3,322 3,546 Organic growth -0.6% +6.1% ADJUSTED EBITDA 354 412 412
Slide 16: Robust operating cash flow, net debt increased by acquisition
2024 FIRST-HALF EARNINGS Robust operating cash flow Net debt increased by acquisition NET DEBT LAST 6 MONTHS EVOLUTION (€M) Leverage(1) Leverage(1) 0.4x 0.7x Strategic Capex (105) NORMALIZED FCF FCF BEFORE M&A €189M €79M NET DEBT Cash from Change in Reorganization Capital Other Financial Dividend &
Slide 17: High liquidity level maintained
2024 FIRST-HALF EARNINGS High liquidity level maintained Two successful bond issuances in H1 2024 NET DEBT BREAKDOWN LIQUIDITY AND DEBT REDEMPTION SCHEDULE (€M) TOTAL AVAILABLE GROSS In €M DEC 23 JUN 24 LIQUIDITY DEBT GROSS DEBT 1,345 1,930 1,930 1,920 Cash & cash equivalents (1,131) (1,120) Undrawn
Slide 18: Outlook
2024 FIRST-HALF EARNINGS SECTION 04 Outlook Nexans 2024 © All right Reserved Page 18
Slide 19: 2024 Guidance upgraded
2024 FIRST-HALF EARNINGS 2024 Guidance upgraded Reflecting strong H1 performance TAILWINDS and integration of La Triveneta Cavi ‒ Continuation of buoyant market demand, supported by global megatrends in electrification OVERALL GROUP ‒ Transformation and value-added Including La Triveneta Cavi contri
Slide 20: Capital Markets Day and US Investors Day
CAPITAL MARKETS US INVESTORS DAY DAY Wednesday Wednesday November 13, 2024 November 20, 2024 London New York City Nexans 2024 © All right Reserved Page 20
Slide 21: Appendices
2024 FIRST-HALF EARNINGS SECTION 05 Appendices Nexans 2024 © All right Reserved Page 21
Slide 22: Nexans at a glance
2024 FIRST-HALF EARNINGS Nexans at a glance A global player of the energy transition ELECTRIFICATION BUSINESSES 2023 OUR PURPOSE WE ELECTRIFY THE FUTURE €6.5BN STANDARD SALES GENERATION & TRANSMISSION DISTRIBUTION USAGE OUR VALUES DEDICATED 28,500 PIONNEERS UNITED PEOPLE OUR 41 PROMISE SCALE-UP COUN
Slide 23: Our strategy: electrifying the future
2024 FIRST-HALF EARNINGS Our strategy electrifying the future Distributed generation Distributed generation (Utility scale) (Private) +20% DEMAND FOR ELECTRICITY Offshore WORLDWIDE BY 2030 Onshore wind wind Residential Datacenters ~80% OF THE ADDITIONAL Solar Infra- GENERATION CAPACITY TO structures
Slide 24: The urgency of Electrification
2024 FIRST-HALF EARNINGS The urgency CABLE MARKETS FORECAST of Electrification NET-ZERO TRANSITION GRID RENEWAL & STRENGTHENING SMART & SAFE BUILDINGS The beginning of a demand ‒ Shift from fossil fuel to renewables ‒ Replace and monitor ageing grids to ‒ Supply renovation wave and smart super cycle
Slide 25: Diversified end-markets and balanced geographic footprint
2024 FIRST-HALF EARNINGS Diversified end-markets and balanced geographic footprint 22% 45% 57% 70% NORTH AMERICA EUROPE 16% 2% OTHERS ELECTRIFICATION OTHERS ELECTRIFICATION 13% 12% GENERATION & GENERATION & TRANSMISSION TRANSMISSION €6.5Bn €665m 2023 SALES AT STANDARD 2023 ADJUSTED METAL PRICE 18% E
Slide 26: Nexans' carbon reduction commitments by 2050
2024 FIRST-HALF EARNINGS Nexans’ carbon reduction commitments by 2050 Targets validated by the SBTi SCOPE 3 SCIENCE BASED INITIATIVE (SBTi) TARGETS VS 2019 BASE YEAR EMISSIONS UPSTREAM PURCHASE OF FREIGHT RAW MATERIALS SCOPE 1 GHG emissions reduction (in -22% EMISSIONS -30% DIRECT INDUSTRIAL OPERATI
Slide 27: H1 sales and profitability by segment
2024 FIRST-HALF EARNINGS H1 sales and profitability By segment H1 2023 H1 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 2,268 1,873 -2.5% 250 13.
Slide 28: Quarterly sales by segment
2024 FIRST-HALF EARNINGS Quarterly sales By segment Q1 2023 Q2 2023 Q1 2024 Q2 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
Slide 29: Impact of foreign exchange and consolidation scope
2024 FIRST-HALF EARNINGS Impact of foreign exchange and consolidation scope Sales at standard metal prices Organic Organic H1 2023 Currency Scope H1 2024 Growth growth % ELECTRIFICATION 1,873 20 267 87 2,246 +14.1% → Generation & Transmission 384 (5) 243 - 622 +64.0% → Distribution 599 (0) 14 22 635
Slide 30: EBITDA to adjusted EBITDA, adjusted EBITDA to operating income
2024 FIRST-HALF EARNINGS EBITDA to adjusted EBITDA In €M H1 2021 H1 2022 H1 2023 H1 2024 EBITDA (incl. share-based payment expenses - 2021 CMD guidance) 222 308 347 404 EBITDA margin on Standard sales 7.1% 9.1% 10.4% 11.4% IFRS 2 Share-based payment expenses 3 9 7 9 ADJUSTED EBITDA 226 317 354 412 A
Slide 31: Free cash flow to Normalized free cash flow
2024 FIRST-HALF EARNINGS Free cash flow to Normalized free cash flow In €M JUN 2022 JUN 2023 JUN 2024 FREE CASH FLOW 90 171 79 Strategic Capital Expenditure 84 89 105 Property, plant and equipment divestment (60) - - Normative project tax cash-out (9) 22 5 NORMALIZED FREE CASH FLOW 104 281 189 Norma
Slide 32: Balance sheet and debt covenants
2024 FIRST-HALF EARNINGS Balance sheet As of June 30, 2024 In €M DEC 2023 JUN 2024 GEARING RATIO Fixed assets and other non-currentassets 2,611 3,162 1400 Covenant @120% Net debt Gearing(1) 0.9 1300 1200 0.7 of which: goodwill 293 635 1100 44% Deferred tax assets 129 120 1000 900 0.5 800 700 15% 12%
Slide 33: Glossary
2024 FIRST-HALF EARNINGS Glossary Adjusted Generation & 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 exc