Titan S.A. · EURONEXT:TITC
Titan — 9M 2026 Earnings Presentation
32 slides from Titan's earnings presentation, Nov 5, 2026
Slide 1: Financial Results 9M 2026
T I TA N G R O U P Financial Results 9M 2026 Investors’ & Analysts’ Presentation November 5th, 2026 9M 2026 Results – Investors' & Analysts' Presentation 1
Slide 2: Today's Presenters
Today’s Presenters Marcel Cobuz Chair Group ExCo John Ioannou Group CFO 9M 2026 Results – Investors' & Analysts' Presentation 2
Slide 3: Executive Summary
Executive Summary Robust nine-month sales growth across all regions drives strong Group performance Profitability gains in Greece, Southeastern Europe and Eastern Mediterranean Sales +9%, driven by solid organic & inorganic growth EBITDA +2%, with growth across all regions, ex-US, impacted by one-of
Slide 4: 9M 2026 Results
01 9M 2026 Results
Slide 5: Financial Highlights
Financial Highlights Strong nine-month sales growth in all regions; increased profitability in Greece, SEE & East Med. 9M’26 PERFORMANCE Q3’26 SNAPSHOT PRESSURE POINT €2.19bn €482m €242m €769m €769m €170m €170m €89m €89m Sales EBITDA NPAT Sales EBITDA EBITDA NPAT NPAT +9% reported +2% reported +9% a
Slide 6: Group Sales
Group Sales Organic growth across all regions, supported by recent acquisitions EUR m LfL 769 +2% 71 698 688 Q3 2026 684 10 0 4 Reported +13% 2025 Scope FX 2025 Organic 2026 Scope 2026 effect ’25 LfL Growth LfL effect ’26 EUR m LfL 2,189 +5% 152 2,037 9M 2026 2,013 (24) 96 (48) 1,941 Reported +9% 20
Slide 7: Group EBITDA
Group EBITDA YTD profitability +2% supported by the successful integration of M&A Cost inflation and one-off events impacted heavily profitability in Q3 LfL EUR m -18% 187 188 0 1 Q3 2026 170 -33 155 15 Reported EBITDA -9% Margin 27.3% 22.1% 2025 Scope FX 2025 Organic 2026 Scope 2026 effect ’25 LfL
Slide 8: Project PRIME | Upgrade our target set for 2029 to €150m
Project PRIME | Upgrade our target set for 2029 to €150m On track to overdeliver the initial 2029 target of €100m cost and self-help benefits €40m ~€60m €100m €150m Savings delivered year-to-date FY26 estimate 2029 cumulative target, on track to exceed 2029 new cumulative ambition Four workstreams,
Slide 9: Reducing structural exposure to energy inflation
Reducing structural exposure to energy inflation PRIME remains important, but sustained energy inflation requires additional measures Why Action is Energy costs are rising Pricing headroom is limited Structural exposure needs Addressable energy costs needed and expected to remain elevated Particular
Slide 10: Sales Volume Highlights
Sales Volume Highlights Double digit volume growth in cement YTD, supported by recent acquisitions 9M 2026 Highlights – 9M 2026 Like-for-Like -1% -1% ✓Cement at +10% (LfL -1%): +10% • Solid performance in Greece led by +6% infrastructure projects 14.8 -4% 13.5 • Resilient US sales despite slowdown i
Slide 11: Operating Free Cash Flow generation
Operating Free Cash Flow generation Robust OFCF supports Capex and M&A investments EUR m 9M 2026 Operating Free Cash Flow 482 27 €297m (153) (59) (248) (677) (745) (96) (21) EBITDA 9M 2026 Non-Cash Operating Finance CapEx Acquisitions/ Dividend, Share FX Impact Increase in Items WC & Tax Disposals B
Slide 12: Net Debt and Liquidity profile
Net Debt and Liquidity profile Following the Net Debt increase our Leverage ratio remains within Investment Grade 1.56x Group Net and Gross Debt Evolution Debt Maturity Profile Net Debt/EBITDA ratio at 1.56x >73% of the debt carries a longer-term profile & at Fixed rates Gross Debt Bank / Other 1,40
Slide 13: CapEx and M&A investments
CapEx and M&A investments Continued investments aligned with Titan Forward strategic priorities Continuous focus on CapEx targeted to growth & efficiencies Three acquisitions across three markets completed in 2026 EUR m Breakdown by nature of investment Vracs de l’ Estuaire, France 9-months Rest of
Slide 14: Major CapEx Projects on track
Major CapEx Projects on track Investments focusing on growth & efficiencies with attractive returns Titan’s three large projects continue to progress Brunner Island, Montour & Fiddler’s Ferry Tracim: 2nd production line USA, Mid-Atlantic & UK Türkiye Converting waste into ACM product, reducing Secon
Slide 15: Synergies from recent acquisitions
Synergies from recent acquisitions Integration of recent acquisitions accelerating, with operational improvements and synergies well on track. KEYSTONE TRAÇIM Operational improvements gain momentum $30m+ Five drivers of EBITDA uplift €25m+ annual run-rate annual run-rate Early integration actions ar
Slide 16: Overview of Markets Performance
02 Overview of Markets Performance 9M 2026 Results – Investors' & Analysts' Presentation 16
Slide 17: USA 9M Highlights
USA 9M Highlights Highlights Sales (€ m) +2% • Mixed market conditions: strength in infrastructure, +2% LfL commercial and data centers; residential remained subdued. 1,129 1,089 1,108 1,152 (40) 19 44 • Organic sales growth of 2% YoY, despite softer cement and ready-mix volumes, supported by resili
Slide 18: Greece, Western Europe (& Corporate) 9M Highlights
Greece, Western Europe (& Corporate) 9M Highlights Highlights Sales (€ m) • Domestic demand remained strong, despite softer +19% activity in July and August, with a strong recovery in +11% LfL 460 September. 425 34 385 385 41 0 • Infrastructure, residential and commercial remained key demand drivers
Slide 19: Southeastern Europe 9M Highlights
Southeastern Europe 9M Highlights Highlights Sales (€ m) +6% • Market conditions remained strong and broadly +6% LfL stable, with volumes ahead of last year in most 333 333 countries. 313 315 18 0 2 • Sales reached €333m, up 6%, driven by higher pricing, particularly in Bulgaria, and volume growth.
Slide 20: Eastern Mediterranean 9M Highlights
Eastern Mediterranean 9M Highlights Highlights Sales (€ m) +32% • Demand in Egypt continued to grow despite (28) +12% LfL 244 geopolitical uncertainty, with higher domestic volumes. 186 (48) 171 73 (10) (24) 152 19 • Exports partially shifted to the US. • Pricing improved YoY across both domestic an
Slide 21: Brazil 9M Highlights
Brazil 9M Highlights Highlights Sales (€ m) +29% • Domestic cement consumption in Brazil increased by 101 0.9% in the nine months of 2026. 78 82 19 4 • In the Northeast region, where we operate, consumption rose by 7.5%. 2025 FX 2025 Organic 2026 LfL Growth • Sales grew by 29% and reached €101m, on
Slide 22: FY Outlook
03 FY Outlook 9M 2026 Results – Investors' & Analysts' Presentation 22
Slide 23: Outlook
Outlook Updating 2026 guidance: high single-digit growth in sales & mid-single-digit growth EBITDA USA Greece & Western Europe • The US economy is expected to maintain • The Greek economy should remain ➢ High single-digit sales growth expecting solid moderate growth through the remainder resilient t
Slide 24: Appendix
04 Appendix 9M 2026 Results – Investors' & Analysts' Presentation 24
Slide 25: Group Income Statement 2026
Group Income Statement 2026 Reconciliation of reported and LfL figures EUR m 9M 9M YoY Q3 Q3 YoY 2026 2025 Delta 2026 2025 Delta SALES 2,189.2 2,012.5 9% 769.5 684.0 13% FX impact -48.1 3.9 Scope effect 2025 (Adoçim) -23.5 - Scope effect 2026 (Traçim; Vracs de l’Estuaire; Keystone) -152.0 -71.3 SALE
Slide 26: Condensed Group Income Statement – 9M 2026
Condensed Group Income Statement – 9M 2026 Strong financial performance EUR m 9Μ 9Μ YoY 2026 2025 Delta Sales 2,189.2 2,012.5 9% Sales LfL 2,037.2 1,941.0 5% Cost of Goods Sold -1,612.1 -1,450.7 -11% Gross profit 577.0 561.8 3% EBITDA 481.7 473.6 2% EBITDA LfL 454.2 463.4 -2% Depreciation/Impairment
Slide 27: Condensed Group Balance Sheet – 9M 2026
Condensed Group Balance Sheet – 9M 2026 Strong financial performance EUR m 30.09.26 31.12.25 Tangible, intangible assets and goodwill 2,938.5 2,031.4 Other non-current assets 206.5 202.1 Total non-current assets 3,145.0 2,233.5 Inventories 503.6 405.2 Cash & cash equivalents 173.6 483.6 Other curren
Slide 28: Q3 Overview – Sales per region
Q3 Overview – Sales per region EUR m +7% EUR m +18% -1% LfL +9% LfL 403 376 382 377 138 150 6 (5) 27 127 127 12 0 11 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 USA Greece, W. Europe (& Corporate) EUR m +6% EUR m +43%
Slide 29: Q3 Overview – EBITDA per region
Q3 Overview – EBITDA per region EUR m -19% EUR m +14% -25% LfL -1% LfL 99 100 20 1 18 18 18 (25) 76 80 0 (0) 3 4 2025 FX 2025 Organic 2026 Scope 2026 2025 FX 2025 Organic 2026 Scope 2026 LfL Growth LfL effect ’26 LfL Growth LfL effect ’26 USA Greece, W. Europe (& Corporate) EUR m -2% EUR m +3% -3% L
Slide 30: Glossary
Glossary Abbreviations Definitions CapEx: Capital Expenditures Sales (LfL): Sales adjusted for foreign exchange effects and scope changes. In 2026, scope effects include the acquisitions of Vracs de L'Estuaire (France), Traçim (Türkiye) and Keystone (USA). In CCS: Carbon Capture & Storage 2025, scop
Slide 31: IR contacts
IR contacts Thank you For more information, please visit our website at https://ir.titanmaterials.com/en Contacts Spyros Kamizoulis Investor Relations Director ir@titanmaterials.com Share Data Ticker TITC ISIN BE0974338700 Number of shares 78.325.475 9M 2026 Results – Investors' & Analysts' Presenta
Slide 32: Disclaimer
Disclaimer By accessing this presentation, you acknowledge that you have read, understood and accepted the terms of this disclaimer. This presentation (“the Presentation”) has been prepared by Titan SA (the “Company” and together with its subsidiaries, “the Group”) is being provided for informationa