Vinci SA · EURONEXT:DG
Vinci SA — H1 2025 Earnings Presentation
106 slides from Vinci SA's earnings presentation, Jul 31, 2025
Slide 1: Cobra IS signs first PPP for electricity transmission in Australia
bots< LS Ys arc Six Cobra IS signs the first public-private partnership (PPP) contract for electricity transmission in Australia 31JULY 2025
Slide 2: Concessions
Concessions VINCI Autoroutes opened the widening of the AS7 motorway VINCI Airports through its subsidiary ANA has initiated studies in Toulon, France (€300 m capex financed by Escota) for the construction of a new airport in Lisbon, Portugal Scaling-up existing mobility infrastructure | vinci is
Slide 3: Energy Solutions
Energy Solutions Cobra IS has started the works to build Germany’s first regasification terminal Wartsila SAM Electronics, strengthening its position in the German defense market VINCI Energies has reached an agreement to acquire Enabling energy transition and sovereignty in Europe vinci
Slide 4: Construction
VINCI Construction renewed its multi-year roads maintenance contract VINCI Construction commissioned the Springbank with Hertfordshire County Council in the UK Off-Stream Reservoir in Calgary (Canada) VINCI
Slide 5: H1 2025 highlights
H1 2025 highlights Pierre Anjolras Chief Executive Officer 2025 FIRST HALF RESULTS VINCI
Slide 6: H1 2025 highlights
’ \ H1 2025 highlights Strong performance across the board despite economic and geopolitical turmoil = 1 ane it Growth in revenue (+3%) driven by Concessions (+8%) and Energy Solutions (+6%), particularly outside France il Operating earnings up across all businesses, both in value and margin Net inc
Slide 7: H1 2025 Group key figures
H1 2025 Group key figures Data in € millions (unless otherwise specified) Revenue Ebitda’ 34,852 6,129 +3.2% +8.0% (+1.2% Ifl) AH1 2025 / H1 2024 Diluted net Net income income/share (€) 1,896 3.34 -99 -0.12 oO tant tax basis** na constant tax basis 2,193 3.86 +198 +0.40 * Cash flow from operations b
Slide 8: VINCI core geographies
VINCI core geographies A H1 2025/H1 2024 H1 2025 Revenue (€bn) France es 14.9 +0% UK HE 3.6 +13% Germany 2.7 +13% Spain M17 -12%* USA . 1.6 9% Top 5 countries 70% of revenue = “e Portugal Hos Brazil BH os Canada Hos Netherlands Ho7 Czech Republic fos Switzerland pos Australia . 0.5 Top 12 countries
Slide 9: Concessions – Key figures
Concessions A H12025/H1 2024 Revenue €5,748 m 477% (+5.7% Ifl) of which VINCI Autoroutes VINCI Airports VINCI Highways - Key figures » 16% of VINCI total revenue €3,171m +3.0% (+3.0% Ifl) €2,253 m +11% (+7.8% If) €233 m +27% (+10% If) Ebitda €3,869 m +€283 m Ebitda margin 67.3% +13 bp yoy of which V
Slide 10: Concessions: VINCI Autoroutes and Highways takeaways
Concessions nH H1 2025 Key takeaways VINCI Autoroutes total traffic change @ VINCI Autoroutes — Strong traffic in Q2 (+2.3% o/w LV +2.7%, HV -0.4%) with Ss =a dynamic growth in June* +2.2% Of which: — Asaresult, robust traffic growth in H1 25 (+2.2% o/w LV +2.5% and HV +0.6%) — TEITLD** impact for H
Slide 11: Concessions: VINCI Airports takeaways
Concessions \fw7 H1 2025 Key takeaways @ VINCI Airports — Traffic accelerated in Q2: +6.7% after +6.0% in Q1 Positive momentum buoyed by the increase in capacity of low-cost airlines and strong customer demand (high load factors) Double digit increases in Japan, Mexico and Budapest Increase in traff
Slide 12: Energy Solutions – Key figures
Energy Solutions — Key figures lay She A H12025/H1 2024 Revenue 39% of VINCI €13,650 m total revenue +6.2% (+4.2% Ifl) €10,050 m VINCI Energies +5.2% (+2.4% Ifl) Cobra IS €3,600 m +8.9% (+9.7% Ifl) Ebit €1,007 m +€79 mM > 24% of VINCI | Ebi Ebit margin fotal Epit 7.4% +16 bp yoy €724 m VINCI Energie
Slide 13: Energy Solutions key takeaways
Energy Solutions [i + H1 2025 Key takeaways @ VINCI Energies — International (58% of total revenue): +7.5% (+2.7% Ifl) Notable growth in Germany (1° international market of VINCI Energies), the Netherlands, Switzerland, Morocco and the US — France (42% of total revenue): +2.2% (+1.8% Ifl) —@ Cobra I
Slide 14: Construction – Key figures
Construction — Key figures B fh A H1 2025/H1 2024 Ebit €335 m ~ Revenue 45% +€27 mM 8% of VINCI of VINCI €15,665 m total revenue total Ebit -0.8% (-2.8% Ifl) Ebit margin 2.1%* +19 bp yoy €15,178 m j €334 m i VINCI VINCI Construction 0 7% (-2 80% Ifl) Cl Construction 2.2%* margin, +8 bp yoy ae €487 m
Slide 15: Construction key takeaways
Construction QO (A) 1 Revenue change vs H1 24 and H1 2025 Key takeaways split by subdivisions @ VINCI Construction Major Projects — Revenue down 0.7% (-2.8% Ifl), both in France (46% of -9.4% total) and abroad (54% of total) 4 Decline in the activity of major projects (phasing reasons) In France, th
Slide 16: Order intake up thanks to flow business
Order intake up thanks to flow business, the core of Energy Solutions and Construction’'s activities . an a | Ratio order intake / ; By business line (in € billion) ! revenue \ceeceseeeseesceseeeseeseeseee } Key takeaways — #1. Order intake in H1 25 down €2 bn vs H1 24 due to high comps (VINCI had w
Slide 17: H1 2025 financial data
H1 2025 financial data Christian Labeyrie Executive Vice President and Chief Financial Officer 2025 FIRST HALF RESULTS VINCI
Slide 18: Revenue growth driven by Concessions and Energy Solutions
Revenue growth driven by Concessions and Energy Solutions €5,748 m_ +7.7% (+5.7% Ifl) €13,650 m +6.2% (+4.2% Ifl) €15,665 m -0.8% (-2.8% Ifl) VINCI Airports & VINCI Energies VINCI H1 2025 revenue vs H1 2024} +€319 m +14.1% other concessions Immobilier €10,050m 2,600 €15,178 m +€499 m +5.2% +€294 1m
Slide 19: Operating income from ordinary activities (Ebit)
Operating income from ordinary activities (Ebit): strong improvement overall VINCI Group Ebit: €4,140 million (+€269 m vs H1 24, ie +6.9%) Ebit margin: 11.9% (+42 bp vs H1 24) VINCI VINCI VINCI eas VINCI VINCI Autoroutes Airports Energies Construction Immobilier — u —. a 1,543 1, as 452 1,007 _ e724
Slide 20: Income statement
Income statement (in € millions) H1 2025 H1 2024 A(€m) A 2025/2024 Operating income from ordinary activities (Ebit) 4,140 3,871 +269 46.9% % of revenue 11.9% 11.5% Share-based payment expense (IFRS 2) (377) (314) -63 +20.1% Profit/loss of equity-accounted cos. & miscellaneous 198 155 +43 +28.0% Recu
Slide 21: Increase in net financial debt in H1 2025
Increase in net financial debt in H1 2025 (€2.9 bn) driven by cash flow seasonality, investments and shareholder remuneration Free cash flow: €46 m rn (20.4) f a Net financial debt at 31 Dec. 2024 Reminder H1 2024 EBITDA 61 5.7 Acquisitions / — Capex Disposals be Interests & taxes (2.4) (0.5) A Work
Slide 22: Positive FCF generation in H1 2025
Positive FCF generation in H1 2025 in € millions w oS 8 8 Hl FY H1 FY Hil FY Hi FY Hi FY Hi FY Hil FY Hi FY Hil FY Hi FY H1 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2024 2024 2025 m Full-year FCF mm H1 FCF Free cash flow, due to seasonal effects, is a
Slide 23: Very robust financial position and optimized financing
Very robust financial position and optimized financing High level of liquidity § 30 June 2024 5 ¥ S | ss | a 30 June 2024 HB Net cash managed 42.5 _ 30 June 2025 stable ee 30 June 2025 Available confirmed bank credit line Solid credit rating S&P Global 4 A- Outlook stable Ratings Moopys > A3 Outlook
Slide 24: Outlook and strategy
Outlook and strategy Pierre Anjolras Chief Executive Officer 2025 FIRST HALF RESULTS VINCI
Slide 25: Ambition France Transports
Ambition France Transports AMBITION FRANCE TRANSPORTS FINANCER L‘AVENIR DES MOBILITES* The conclusions of the summit were presented to the Ministry of Transports on July 9 https//conference-ambition-france transports gouvst/ BED * 5 unding the future of mobility infrastructure 2025 FIRST HALF RESULT
Slide 26: VINCI Airports existing assets development
VINCI Airports existing assets development Main developments ahead London Gatwick - Expansion project The UK Secretary of State for Transport is ‘minded to approve’ the privately financed Northern Runway plans ANA - New Lisbon airport § a Modernization works at Humberto Delgado airport while initiat
Slide 27: 3.7 GW of renewable electricity assets
3.7 GW of renewable electricity assets in operation or under construction Cobra IS portfolio at the end of June 2025 Assets in operation By geography Brazil 96% 1.2 GW v Portugal 4% 100% Solar PV Assets under construction By geography ~96% Solar PV 2.5 Portugal GW W% ~4% . USA . Brazil 19% Onshore w
Slide 28: Order book up 6% yoy to a very high level
Order book up 6% yoy to a very high-level: visibility and se renity + France: 29% of the order book * Germany: 19% wo eeeeeceee ec eeeeeceenece eee + Rest of world: 52% By business line (in € billion) | of average business By geographical area (in € billion) ‘ activity ' TotalVINC! 67.3 +3% 69.1 +3%
Slide 29: FY 2025 guidance confirmed
FY 2025 guidance confirmed CONCESSIONS VINCI Autoroutes: traffic levels slightly higher than those of 2024 VINCI Airports: = Further YoY growth in passenger numbers, but probably more limited than in 2024 (+8.5% vs 2023) ENERGY SOLUTIONS CONSTRUCTION VINCI Energies: VINCI Construction: = Revenue gro
Slide 30: Interim dividend unchanged despite higher taxation in France
Interim dividend unchanged despite higher taxation in France 2025 interim dividend €1.05 14 October 2025 Ex-date per share (all-cash) per share 16 October 2025 Payment date 4.75 Hl Total dividend (-) interim dividend i interim dividend 4.50 4.00 3.05" oy 2.90 245 SF 1 2.10 2.04: 1.84 12.04; 2.04 0.5
Slide 31: Capital allocation strategy
Capital allocation strategy CASH ALLOCATION Development Capex on existing assets/M&A Commitment to a clear and under a strict discipline: selected countries, growth appealing shareholder potential and appropriate returns remuneration Long-term infrastructure Extend the duration of the portfolio Mobi
Slide 32: Main recent developments
Main recent developments lay VINCI Energies H1 2025: 16 acquisitions, ~€90 m of full-year revenue (mainly outside France). uly 2025: agreements to acquire 4 companies cumulating full-year revenue of almost €500 m Wartsila SAM Electronics (Germany), ~€100 m of full-year revenue. R+S Group (Germany),
Slide 33: Together!
Together! y Together! Compl wt Accelerate one? ethical 1 the environmental principles | transition Our values: aiming for an all-round performance A sustainable economic project is impossible without an ambitious social, workforce-related and environmental commitment Together! - Foster equality and
Slide 34: Real success is the success you share
Slide 35: Appendices
Appendices 2025 FIRST HALF RESULTS VINCI
Slide 36: Financial data
Financial data as of June 30, 2025 2025 FIRST HALF RESULTS VINCI
Slide 37: Consolidated revenue
Consolidated revenue A 2025/2024 in € millions H1 2025 H1 2024 Actual Like-for-like Concessions* 5,748 5,337 +7.7% 45.7% VINCI Autoroutes 3,171 3,079 +3.0% 43.0% VINCI Airports 2,253 2,033 +10.8% +78% VINCI Highways 233 183 +27.3% +10.2% Other concessions** 91 43 21x +66.6% Energy Solutions 13,650 1
Slide 38: Consolidated revenue - France
Consolidated revenue - France A 2025/2024 in € millions H1 2025 H1 2024 Actual Like-for-like Concessions* 3,395 3,316 42.4% +4.1% VINCI Autoroutes 3,171 3,079 +3.0% 43.0% VINCI Airports 136 197 -31.0%' -5.1% Other concessions** 88 40 22x 22x Energy Solutions 4,226 4,125 42.4% +2.1% VINCI Energies 4,
Slide 39: Consolidated revenue - International
Consolidated revenue - International A 2025/2024 in € millions H1 2025 H1 2024 Actual Like-for-like Concessions* 2,353 2,021 416.4% 48.3% VINCI Airports 2,117 1,835 +15.3% +8.7% VINCI Highways 233 183 +27.3% +10.2% Other concessions** 3 2 Energy Solutions 9,425 8,732 47.9% +5.2% VINCI Energies 5,861
Slide 40: Ebitda
Ebitda in € millions H1 2025 % of revenue* H12024 %ofrevenue* A 2025/2024 Concessions 3,869 67.3% 3,586 67.2% +283 o/w VINCI Autoroutes 2,320 73.2% 2,228 72.4% +92 o/w VINCI Airports 1,406 62.4% 1,264 62.2% +143 o/w VINCI Highways 121 52.0% 91 49.6% +30 Energy Solutions 1,274 9.3% 1,123 8.7% +151 VI
Slide 41: Ebit by business line
Ebit - operating income from ordinary activities by business line in € millions H1 2025 reve ct H1 2024 reve ct A 2025/2024 Concessions 2,802 48.7% 2,575 48.2% +227 VINCI Autoroutes 1,617 51.0% 1,543 50.1% +74 VINCI Airports 1,129 50.1% 1,007 49.6% +122 VINCI Highways 64 274% 41 22.2% +23 Other conc
Slide 42: Cash flow statement (1/2)
Cash flow statement (1/2) in € millions H1 2025 H1 2024 FY 2024 Ebitda 6,129 5,673 12,689 Change in WCR* and current provisions (1,863) (1,314) 2,311 Income taxes paid (1,211) (962) (2,220) Net interest paid (778) (593) (1,177) Dividends received from companies accounted for under the equity method
Slide 43: Cash flow statement (2/2)
Cash flow statement (2/2) in € millions H1 2025 H1 2024 FY 2024 Free cash flow (after CAPEX) 46 361 6,808 Net financial investments and other cash flows* (529) (5,656) (6,984) Cash flow before movements in share capital (483) (5,295) (176) Share capital increases and other operations 245 444 590 Sha
Slide 44: Operating CAPEX
Operating CAPEX in € millions H1 2025 H12024 <A 2025/2024 FY 2024 Concessions 216 169 +47 318 VINCI Autoroutes 13 14 -1 20 VINCI Airports* 192 143 +49 284 Other concessions** pal 12 -1 13 VINCI Energies 134 125 +9 274 Cobra IS* 658 704 -46 1,238 VINCI Construction 407 451 -43 1,045 VINCI Immobilier
Slide 45: Growth CAPEX in concessions and PPPs
Growth CAPEX in concessions and PPPs in € millions H1 2025 H12024 A 2025/2024 FY 2024 Concessions 419 581 -162 1,072 VINCI Autoroutes 298 336 -38 604 Of which: ASF 184 161 +23 291 Escota 66 107 -41 196 Cofiroute 47 65 -18 108 VINCI Airports 67* 273 -205 445 Other concessions** 54 (27) +82 23 VINCI E
Slide 46: Net financial debt by business line
Net financial debt by business line Of which Of which Of which in € millions 30 Jun. 2025 external 31 Dec. 2024 external 30 Jun. 2024 external net debt net debt net debt Concessions (30,042) (20,446) (31,739) (20,888) (31,622) (20,249) VINCI Autoroutes (15,493) (11,091) (16,159) (11,296) (16,102) (1
Slide 47: Consolidated balance sheet
Consolidated balance sheet (in€ millions) 30Jun.2025 31Dec.2024 30 Jun. 2024 I jun a Non-current assets - Concessions 48,901 50,182 50,292 -1391 Non-current assets - Energy Solutions, Construction and misc. 27,568 26,516 25,032 +2,536 WCR, provisions and other current assets & liabilities (15,372) (
Slide 48: Maturity of LT gross financial debt
Maturity of LT gross financial debt Average maturity of LT gross financial debt (€34.3 bn) as of 30 June 2025: 5.8 years” 3,500 | °° s s € millions N oS s s as 2025 H2 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 mHoldings & misc. mGroupe ASF m Cofiroute Arcour Arcos mVINCI Airports —m Oth
Slide 49: Average cost of future debt repayments
Average cost of future debt repayments LL H2 2025 2026 2027 2028 2029 2030 Nominal amount in € millions 1,006 4,146 3,913 3,654 3,352 3,514 Average rate” 3.61% 3.92% 3.04% 3.19% 4.22% 2.75% * After hedging mHoldings&misc. mGroupeASF m Cofiroute Arcour Arcos mVINCI Airports ™ Other concessions 2025 F
Slide 50: Financial policy
Financial policy Optimising the average cost of debt Breakdown of LT* gross financial debt by currency —TH$ XS — 3% MXN —— 1% PEN ME ong-term + Weighted average rates based on all other currencies (including MXN and PEN) Cost of LT* gross financial debt over the past 5 years (closing rate) 37% *28%
Slide 51: Net debt: 52% at fixed rate, 48% at floating rate
Net debt: 52% at fixed rate, 48% at floating rate Natural hedge between floating rate + inflation linked debt and Ebitda (linked to inflation) + net cash managed (remunerated based on short-term floating rate) Net cash non representative of year-end position due to the FCF seasonality inherent to VI
Slide 52: Other information
Other information 2025 FIRST HALF RESULTS VINCI
Slide 53: 2024 Group's key figures broken down by business
2024 Group's key figures broken down by business Revenue Ebitda 3% , yy, €71.6 Ke €12.7 bn Net income Free cash flow Ve /N Ag € €6.8 bn €4.9 bn Ebit | €9.0 bn Hl Concessions Il Energy Solutions Hl Construction Capital employed HB Holdings 4% Ve 1% €59.4 bn * Of which: - VINCI Autoroutes capital empl
Slide 54: Details on contracts awarded in 2024
Details on contracts awarded in 2024 Order intake breakdown by division and granularity FY FY Change In € billion 2024 2023 24/23 Order intake <€5 m 17.9 17.5 +2% Order intake > €5 m 4.2 3.5 +23% Order intake <€50 m +0% Order intake > €50 m* 5.2 5.1 +2% VINCI Construction 33.7 30.6 Order intake <€50
Slide 55: VINCI 2024 key figures
VINCI 2024 key figures €71.6 bn >120 >4,200 285,000 >350,000 €58 bn Group revenue countries where Est. number of Est. number of Est. number market cap. at (incl. holdings) VINCI operates business units employees of contracts 31 December 2024 Revenue €11.7bn €27.5 bn €32.9 bn Number of employees 20,5
Slide 56: Energy transition megatrends captured by the Group's business lines
Energy transition megatrends captured by the Group's business lines tf Electricity needs €600 Bn pa Worldwide capex needed to build x2 vs. 2023 new or retrofit existing T&D lines €200 Bn by 2040 53% x5 To invest by RTE and Enedis to renovate and secure the French grids Part of electricity in the glo
Slide 57: A growing international presence
A growing international presence 2014 revenue geographic breakdown 2024 revenue geographic breakdown 9 14% we 5% 5% 6 fo Sy 6% fo INCREASED 2% 42% INTERNATIONAL 4% ° €38.7 bn » EXPOSURE » €71.6 bn 19% 62% 32% 2014 Revenue CAGR 2014/2024 2024 Revenue France €23.9 bn +2.4% €30.2 bn International €14.8
Slide 58: Ebitda breakdown by business
@ VINCI Autoroutes Energy, VINCI Airports and other concessions now generate more Ebitda than VINCI Autoroutes €12.7 bn Group Ebitda breakdown in 2024 €4.0 bn Group Ebitda breakdown in 2006 * €2.4 bn / 59% . ; 1 bn / 28% €0.2 bn /6 0. +20% +13% excl. TEITLD" €4.7 bn / 37% ! €0.4 bn / 3% €2.0 bn / 16
Slide 59: Capital allocation strategy execution
Capital allocation strategy execution Wrap-up of the last 3 years (2022-2024) In € billion Renewable assets (1.4) CASH-FLOW FROM OPERATIONS * 0.6 GW in operation 2.9 GW under construction Main deals VINCI Airports (i) VINCI Highways (2.3) Other concessions i 1 (0.3) DIVIDENDS NET SH. BUYBACKS” M&A (
Slide 60: ROCE and ROE higher than pre-covid levels
ROCE and ROE higher than pre-covid levels 18.6% . ' 39 : 9 18.1% 73% | 18.3% of | 12.4% | 13% 1.3% , 11.9% : 1 9.2% ! ' 6.1% 6.7% ! 3.3% ; ' 2020 2021 ' 2022 2023 2024 i 2024 ' ROCE mROE Return on capital employed (ROCE) is operating income after tax excluding non-recurring items (NOPAT), divided by
Slide 61: VINCI's environmental performance in 2024
VINCI's environmental, . and 2024 performance 4b 2030 AMBITION -40% GHG emissions vs 2018 (scope 1 & 2) -20% GHG emissions vs 2019 (scope 3) 90% low carbon concrete used by VINCI Construction SCIENCE BASED TARGETS: Act for the climate 2024 PERFORMANCE 2.2 mt Scopes 1 & 2 emissions in 2024 -21% GHG e
Slide 62: VINCI's ESG ratings in 2024
VINCI's ESG ratings in 2024 wD SUSTAINALYTICS ESG Risk Rating [sammanar |@ Wepp DISCLOSURE INSIGHT ACTION Corporate ESG Performance 2023 2022 ~ Medium CDP Climate A- A RATEO BY . ISS ESGD> 26. Risk CDP Water ee os] - B B 10 1070203030 Security CDP Forest Cc Cc MSCI ESG RATINGS ccc | 8 | se | no EWE
Slide 63: Taxonomy eligible and aligned revenue
41% 22% of eligible revenue of aligned revenue Most contributing sectors to the eligibility and alignment of VINCI’s activities in 2024 In bn€ Eligible Revenue Aligned Revenue Transmission and distribution of electricity (4.9) 58 44 Infrastructure for rail transport (6.14) 5.0 3.9 Activities related
Slide 64: VINCI's social performance in 2024
VINCI's social performance in 2024 Aiming for all-round performance and sharing the benefits of our performance with our stakeholders Together! Engage in civic projects 6 Together! Strive for zero accidents ° Together! Foster equality and diversity e Together! Promote sustainable careers 4,000 long-
Slide 65: Shareholder base at December 2024
Shareholder base at 31 December 2024 Institutional investors 71.4% ~ Rest of the World Rest of Europe Individual investors United Kingdom 17.8% Employees 581.8 m 10.9% shares Sty Qatar Holding LLC Treasury shares North America France | BEG * ©2824 on available information Shareholding structure* 202
Slide 66: Business line profiles
Business line profiles 2025 FIRST HALF RESULTS VINCI
Slide 67: Concessions Profile
Concessions Profile Revenue and Ebitda margin over the last 5 years 11.7 10.9 9.2 h 69.2% 67.7% 68.3% h 2020 2021 2022 2023 2024 mmm Revenue (bn) ~—Ebitda margin 2024 revenue by geographical area 4%. France HB Portugal M@ uk Americas RoW ot] *Ebitda margin in 2024 excluding the impact of the TEITLD
Slide 68: Concessions Profile
Concessions Profile VINE | VINCI ” RAILWAYS VINCI “— VINCI VINCI ” AUTOROUTES AIRPORTS. STADIUM Revenue €6.6 bn €0.5 bn Ebitda €4.7 bn €0.2 bn Ebitda margin 70.8% 63.7% 42.2% = % of the division's 2024 revenue 2025 FIRST HALF RESULTS = VINCI “”
Slide 69: Concessions capex forecasts
Concessions capex forecasts* HB OVINC! Airports Hm VINCI Autoroutes 2025e 2026e 2027e * Forecast as of 31 December 2024 and including fully consolidated assets only 2025 FIRST HALF RESULTS VINCI “”
Slide 70: Traffic trends
125 120 115 110 105 100 95 90 85 80 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 15 15 16 16 17 17 18 18 19 19 20 20 21 21 22 22 23 23 24 24 25
Slide 71: VINCI Airports FY traffic details
VINCI Airports FY traffic details Passenger traffic (in thousands of pax) ee wean Portugal (ANA) 33,930 +4.8% o/w Lisbon 17,226 +3.0% United Kingdom 30,924 +18% o/w London Gatwick 19,997 +0.4% o/w Edinburgh 7,771 +6.4% Mexico 13,702 410.4% 0/w Monterrey 7,345 +19.9% France 5,884 43.7% o/w ADL (Lyon)
Slide 72: VINCI Autoroutes
VINCI Autoroutes 2025 FIRST HALF RESULTS VINCI
Slide 73: VINCI Autoroutes
VINCI Autoroutes France's leading toll road concession operator 4,443 km approx. 90% >35% of conceded French of total motorway under concession . toll roads network in France > VINE! — AUTOROUTES —_ y fared — > es wRCOS = Intercity (1) ase @escoTa intercity @) © ASF § Cofiroute End of concession Apr
Slide 74: VINCI Autoroutes
VINCI Autoroutes Contractually CPl-linked tariffs Contractual framework of toll increases (LVs) Cofiroute Intercity Network After 2025 70% xi 70% xi 70% xi i= Consumer price index excl. tobacco products at end October Y-1 * Applied on 1 February 2025 The amendment to the ASF concession contract, reg
Slide 75: VINCI Airports
VINCI Airports 2025 FIRST HALF RESULTS VINCI “”
Slide 76: VINCI Airports
VINCI Airports The world's largest private airports operator The most geographically diversified airport operator 72 . Belfast International Airport, UK Begs TEs stIntrnationa por, UK <3 Platforms Per Us London Gatwick Aiport UK . (22 airports) Cy Reterest pore Hannay ansai i * jelgrade | bia cansai
Slide 77: VINCI Airports
VINCI Airports The world's largest private-sector airport operator Published passengers traffic’ (millions of pax.) 318 255 267 195 210 157 132 : | I l l 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1 Data at 100% irrespective of percentage held Data include airport passenger numbers on a full-
Slide 78: Airports traffic breakdown
2% 8% 2% 8% 5% 6% 7% 36% 4% 34% 14% 15% 28% 30%
Slide 79: VINCI Airports key P&L items
VINCI Airports key P&L items (in€ millions) FY 2024 FY 2023 A 2024/2023 A (€m) Revenue 4,526 3,947 +14.7% +579 o/w Aero 3,108 2,744 +13.3% +364 o/w Non Aero 1,417 1,203 +17.9% +215 Ebitda 2,883 2,495 +15.6% +388 % of revenue 63.7% 63.2% Operating income from ordinary activities (Ebit) 2,334 1,889 +2
Slide 80: Passenger traffic breakdown by type
Tourism/Leisure VFR (Visiting Friends & Relatives) Business Other Domestic Intra EU International Short & Mid haul (excl. Intra EU) International Long haul (>4,000 km)
Slide 81: VINCI Airports network (1/2)
VINCI Airports network (1/2) As of 31st December 2024 Country Na mpax in 2019 mpax in 2024 ye! lation London Gatwick 46.6 43.3 = 50% Yes Full consolidation UK Edinburgh Airport 147 15.8 - 50% Yes Full consolidation Belfast International 63 68 2993 100% Yes Full consolidation ANA Portugal (40 airport
Slide 82: VINCI Airports network (2/2)
VINCI Airports network (2/2) As of 31st December 2024 Country Name Description mpax in 2019 | mpax in 2024 yes Consolidation 4 airports: Hollywood Burbank Airport in California, Management USA Atlantic City in New Jersey, Macon Downtown Airport and Manag 71 75 na 100% No Full consolidation . . . con
Slide 83: VINCI Railways / VINCI Stadium
VINCI Railways VINCI Stadium 2025 FIRST HALF RESULTS VINCI “”
Slide 84: VINCI Highways profile
25% 22% 33% 46% 8% 28% 14% 24%
Slide 85: VINCI Highways (1/2)
Slide 86: VINCI Highways (2/2)
Slide 87: VINCI Stadium
Slide 88: VINCI Railways and other concessions
Slide 89: VINCI Energies
Slide 90: VINCI Energies
Slide 91: VINCI Energies
Slide 92: VINCI Energies: revenue details by business line
Slide 93: Cobra IS
Slide 94: Cobra IS financial profile
2% 1% 11% 3% 10% 45% 28%
Slide 95: Cobra IS
Slide 96: List of offshore windfarm energy converter platforms won by Cobra IS
Slide 97: VINCI Construction
Slide 98: VINCI Construction
Slide 99: VINCI Construction
Slide 100: The Grand Paris Express project
Slide 101: VINCI Immobilier
Slide 102: VINCI Immobilier revenue breakdown
23% 50% 16% 11%
Slide 103: VINCI Immobilier
Slide 104: Notes
Slide 105: Notes
Slide 106: Team / Agenda