Slide 1: Corporate Presentation 2025
CORPORATE PRESENTATION 2025
Slide 2: A high-tech group
A high-tech group Exail Technologies is a high-tech company specializing in autonomous maritime robotics & navigation systems, with a deep vertical integration 2
Slide 3: Summary
Summary I. INTRODUCTION II. HIGH-TECH ACTIVITIES | A LEADER IN NAVIGATION & ROBOTICS III. LARGE MARKETS | €8 BN ADRESSABLE IN CIVIL & DEFENSE IV. INTENSE ACTIVITY 2025 | +520% OF ORDERS IN Q1 2025 V. OUTLOOK | MANY LEVERS TO GROW VI. APPENDIX | ON ROBOTICS & NAVIGATION 3
Slide 4: I. Introduction
I. INTRODUCTION 4 Drix Surface drone & A-18 underwater drone collaborating on a survey mission
Slide 5: Key trends
Key trends A very strong commercial Winning new robotics programs 1 activity Strong sales in Navigation systems 2 Strong operating & financial results Strong growth on all KPIs Improving cash-flows 3 & significant deleveraging Net debt / current EBITDA ratio (excl. ICG) below 2x at end-2024 5
Slide 6: Key figures
Key figures Revenues Current EBITDA Backlog 2024 2024 373 M€ 74 M€ 1.1 Bn€ +16% 20% ~3 years vs 2023 margin of revenues 6
Slide 7: Commercial activity gaining momentum
Commercial activity gaining momentum Evolution of order intake over 5 years Since acquisition of iXblue (signed early 2022) +105% OVER €451 m 4 YEARS orders in 2024 2021-2024 €220 m orders in 2021 +27% CAGR 2021-2024 2021 2022 2023 2024 2025 7
Slide 8: A strong second semester 2024
A strong second semester 2024 Operating cash flow Order intake Current EBITDA Revenue growth +€69 m +57% +37% +25% +5% +16% +€22 m -9% H1 2024 H2 2024 H1 2024 H2 2024 H1 2024 H2 2024 H1 2024 H2 2024 vs H1 2023 vs H2 3023 Maritime robotics 21% current EBITDA Intense commercial activity Significant im
Slide 9: II. High-tech activities
II. HIGH-TECH ACTIVITES 9 A-18 underwater drone on a survey mission
Slide 10: A leader in Navigation and Maritime robotics
A leader in Navigation and Maritime robotics Exail provides complex systems for critical missions Autonomous drone systems Main applications: Underwater mine-clearance Hydrography / Seabed mapping Navigation & Positionning systems Main applications: Naval defense & civil maritime operations Land def
Slide 11: Flagship solutions driving most of the sales
Flagship solutions driving most of the sales UMIS INS Modular drone system Inertial Navigation Systems Combination of underwater, surface, aerial drones High-performance technology based of fiber-optic gyroscope integrating different possible sensors (navigation systems, and quartz accelerometers so
Slide 12: Two segments vertically integrated and growing
Two segments vertically integrated and growing Navigation & Maritime robotics: strong dynamic Advanced technologies: 364 M€ of orders in 2024 / +49% vs 2023 87 M€ of orders / +10% vs 2023 Numerous orders for Maritime robotics systems, Growing demand for high-end laser sources, especially with both n
Slide 13: A deep vertical integration, generating revenues at each step
A deep vertical integration, generating revenues at each step of the chain Advanced Technologies Navigation and Maritime Robotics ~25% of revenues ~75% of revenues Components & Equipment Navigation & Positioning Unitary drones Integrated systems OPTIC & QUANTUM INERTIAL NAVIGATION SURFACE DRONES AUT
Slide 14: III. Large & growing markets
III. LARGE & GROWING MARKETS 14 DriX survey drone – inspection of an offshore windfarm in France
Slide 15: Large markets in defense & civil
Large markets in defense & civil Civil ~€4.5 bn Maritime operations & hydrography Maritime shipping Adressable market per year €8 bn Satellite positioning & Laser & quantum industries communication Adressable market per year Defense ~€3.5 bn Mine-hunting & military survey Navigation systems of surfa
Slide 16: Defense spending are increasing strongly in Europe
Defense spending are increasing strongly in Europe >€200 Bn Defense investments Potentially doubling by 2030 are growing fast UE-27 investment spendings in Defense since 10 years (equipment procurement and R&D) +42% €102 Bn of annual investment €72 Bn spendings in 2024 €58 Bn €52 Bn €41 Bn €44 Bn €3
Slide 17: Four tailwinds for Exail in the European Defence Strategy 30
Four tailwinds for Exail in the European Defence Strategy 2030 Drones among the 7 priority defense domains “ Drones are an indispensable capability » European preference “By 2030, at least 50% of Member States defense Opening procurement budget should be devoted to procurement from European supplier
Slide 18: Autonomous drones are taking a bigger share of defense spendings
Autonomous drones are taking a bigger share of defense spendings The example in mine-hunting Previous generation New generation of drone systems of systems Heavily equipped ships with Collaborative systems of drones remotely operated drone deployed from a ship or from the shore Value of the drones V
Slide 19: Civil markets supported by strategic trends
Civil markets supported by strategic trends More maritime offshore More drones for hydrographic Ramping-up of New Space industry operations survey missions KEY TRENDS & DRIVERS KEY TRENDS & DRIVERS KEY STRENGTHS & DRIVERS Doubling new offshore windfarms in the >400 hydrographic vessels worldwide to
Slide 20: Scalable products to address these large markets
Scalable products to address these large markets IN NAVIGATION IN ROBOTICS A common INS platform to address Common autonomous intelligence, different applications navigation system & control software Octans Phins DriX H8 DriX O-16 DriX A18-M A9-M Inspector 90 Marins Astrix Compact Advans Medium Ocea
Slide 21: III. Intense activity 2025
III. INTENSE ACTIVITY 2025 21 USV Inspector 125
Slide 22: New flagship contract for systems of drones won early 2025
New flagship contract for systems of drones won early 2025 A SEVERAL HUNDRED MILLIONS OF EUROS CONTRACT A NEW SUCCESS FOR UMIS Backlog will Exail was selected by the client exceed after an international tender lanched several years ago >€1 Bn SYSTEMS TO BE DELIVERED OVER 4 YEARS Contract should star
Slide 23: €487 million of orders in Q1 2025
€487 million of orders in Q1 2025 Navigation & Maritime robotics: strong dynamic Advanced technologies: 460 M€ of orders / +602% vs Q1 2024 27 M€ of orders / +109% vs Q1 2024 Mega-contract of several hundreds of million Growing demand for high-end laser sources, especially for space applications and
Slide 24: Navigation orders remain very strong on all applications
Navigation orders remain very strong on all applications >€40 m SEVERAL SIGNIFICANT ORDERS IN LAND DEFENSE SEVERAL HUNDRED UNITS IN MARITIME SHIPPING Order intake in Q1 2025 MORE THAN 100 ROVINS UNITS SOLD TO EQUIP DRONES 24
Slide 25: More wins in maritime robotics
More wins in maritime robotics NEW PROGRAM IN MINE-HUNTING FOR ASIA- SECOND SALE OF DRIX 0-16 “OCEAN” PACIFIC COUNTRY €25 million The largest drone in Exail’s range Several Mine Identification & Destruction Systems (MIDS) Capacity to replace manned hydrography vessels An existing client : Exail sold
Slide 26: III. Outlook
III. OUTLOOK 26 Drix 0cean and Drix H-8
Slide 27: Exail well positioned to win the future mine-hunting programs
Exail well positioned to win the future mine-hunting programs Exail is the only player The leader in mine-hunting with the full range in the world of drones to adress mine-hunting missions A strong track record ~90% of tenders won €2-3 Bn since 2019 of tenders remaining in tenders to be notified by
Slide 28: Exail Technologies: a unique positioning to address new markets
Exail Technologies : a unique positioning to address new markets STRONG DRONE SYSTEMS OFFER STRONG INSTRUMENTS OFFER SURFACE DRONES INERTIAL NAVIGATION Drix H-8 Drix O-16 Inspector 90 Inspector 125 INS IMUs Data Distrib. DVL Units UNDERWATER DRONES SONARS & ACOUSTIC POSTITIONING V V A18 A9 T18 Seasc
Slide 29: Medium-term opportunities: fleets of drones for Maritime Domain Awareness
Medium-term opportunities: fleets of drones for Maritime Domain Awareness (MDA) Monitoring, survey and protection of sensitive maritime areas Using the advantages of fleets of drones to acquire data & detect threats Surface drones like DriX, operated from the shore, cost effective to replace ships E
Slide 30: Medium-term opportunities: supplying drones for MDA
Medium-term opportunities: supplying drones for MDA Surveying seabed & water column with sensors embarked or towed on surface drones like DriX O-16 SCALABLE ABILITY TO REMAIN HIGHER QUALITY SOLUTION AT SEA FOR LONG OF ACOUSTIC THROUGH FLEETS PERIODS DATA OF DRONES Compared to Thanks to an optimized
Slide 31: Medium-term opportunities: monitoring critical underwater infrastructure
Medium-term opportunities: monitoring critical underwater infrastructure Monitoring communication cables, energy pipelines, etc. from 300 m Based on existing UNDERWATER to 6 000 m drones used for DRONES depths mine-hunting for different In-house sensors WIDE RANGE of third-parties type of sensors in
Slide 32: More to do on land defense for Navigation systems
More to do on land defense for Navigation systems A flagship success in Europe in 2024, followed by numerous commercial wins >20,000 A growing market with more vehicles equipped with INS & more on-board sensors land vehicules in needing stabilization / precision European forces Gaining market share
Slide 33: Objectives 2025
Objectives 2025 REVENUE: CURRENT EBITDA: ORDER INTAKE: DOUBLE DIGIT INCREASING DYNAMISM GROWTH FASTER THAN CONTINUES REVENUE Supported by strong Continuing to increase Both in Defense & Civil order intake in 2024 profitability markets & supportive markets 33
Slide 34: Appendix
APPENDIX 34 Assembly of an Inertal Navigation unit
Slide 35: Appendix 1: Focus on mine-hunting & the BENL program
APPENDIX 1 FOCUS ON MINE-HUNTING & THE BENL PROGRAM 35 USV inspector 125
Slide 36: Exail has been the reference for drones in mine-hunting for 50 years
MARITIME SURVEY Exail has been the reference for drones in mine-hunting for 50 years 1970s Until today Major contracts with the Belgium 1 2 & Dutch navies 450 vehicles 20 marines • Commercial success with the equipped commercialized navies of Belgium & Navies worldwide • Since the 1970s, these two n
Slide 37: Belgium & Dutch navies program (BENL): a flagship contract
Belgium & Dutch navies program (BENL): a flagship contract Exail wins the international 12 ships to equip To be delivered 2019 tender in partnership with complete systems between with Naval Group totalling ~100 drones 2023 and 2027 Highlights Flagship Contract 12 10-year Belgium is the reference nav
Slide 38: Other navies are renewing their fleets
Other navies are renewing their fleets Obsolescence of existing fleets coming fast More than 300 mine-hunting ships Most of this vessels are ageing in service in ECA’s markets1 Distribution of the mine-hunting fleet by decade of commissioning in Europe, Asia Pacific and Middle of ships with >20 year
Slide 39: Drone systems generates recurring revenues over decades
Drone systems generates recurring revenues over decades Large initial order Usually comprising the initial capacity with the main drone(s) & Command & Control software Additional services Maintenance & price increases & spares New functionalities, Launch Long-term support over decades & recovery sys
Slide 40: Ongoing programs have already grown
Ongoing programs have already grown… Initial order Total size of the program to date Belgium & Dutch program ~450 M€ ~570 M€ c.+25% in 2019 Latvia navy program ~20 M€ ~23 M€ c.+10% in 2020 PAP systems 450 ~5 M€ After-sales still ongoing after systems sold between orders in H1 2024 many decades 1970
Slide 41: Appendix 2: Focus on the navigation activity
APPENDIX 2 FOCUS ON THE NAVIGATION ACTIVITY 41 USV inspector 125
Slide 42: Inertial Navigation Systems (INS): a critical sensor
Inertial Navigation Systems (INS): a critical sensor for Defense & Civil applications KNOWING THE POSITION OF ANY VEHICULE A COMPLEX EQUIPEMENT RELYING ON DECADES WITHOUT GPS, RELIABLY AND PRECISELY OF ADVANCED R&D Inertial navigation (INS) uses sensors to derive Integrated optical circuit a positio
Slide 43: From deep seas to outer space
+ 1 500 000 km Scalability: a wide range of applications Outer space missions adressed with a single technology… Satellites Space launchers Land Defense From Maritime operations deep Maritime …to seas… outer Shipping Submarines & underwater Naval Defense space drones Railways Deep sea Underground AU
Slide 44: Several growth drivers for Exail on Navigation activity
Several growth drivers for Exail on Navigation activity Global Market Opportunities for Exail Key strengths Strong & growing Naval World leader with best defense & Civil maritime market performing inertial navigation systems €3.7 bn Gaining market share on Attractive price/performance established ap
Slide 45: Navigation & Positioning is gaining momentum
Navigation & Positioning is gaining momentum Evolution of Navigation & Positioning order intake Before and after acquisition of iXblue signed early 2022 €157 m orders in 2024 +74% Since aqc. of Ixblue 2021-2024 ~€90 m orders in 2021 €60 m orders in 2018 +20% CAGR 2021-2024 2018 2019 2020 2021 2022 2
Slide 46: The future is smaller and towards volume markets
The future is smaller and towards volume markets PREVIOUS GENERATION OF INERTIAL NAVIGATION SYSTEMS HIGH PRECISION, LESS COMPACT NEW GENERATION MORE COMPACT, LESS ENERGY CONSUMING BEST PRICE / PERFORMANCE ON THE MARKET Satellite Land constellations Defense Drones ACCESSING VOLUME MARKETS WITH HIGH A
Slide 47: Contact
CONTACT Hugo Soussan Chief of staff to the chairman & CEO h.soussan@exail-technologies.com +33 1 44 77 94 86 / +33 7 55 66 40 54 www.exail-technologies.com