Indra Sistemas, S.a. Class A · BME:IDR
Indra Sistemas, S.a. Class A — Indra Sistemas Sa Ord — Q1 2026 Earnings Presentation
28 slides from Indra Sistemas, S.a. Class A's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Results
=< INDRA GROUP 1026 Results ye Ts
Slide 2: Conference call details
= INDRA GROUP Conference call details LIVE EVENT: The Company will host a conference call for investors and analysts today at 9:00AM (CET). Please find below conference call telephone details: Pre-registration: https://grid.trustwavetechnology.com/indra_es/register.html Once you’ve registered, you w
Slide 3: = INDRA
= INDRA GROUP This presentation has been produced by Indra for the sole purpose expressed therein. Therefore, neither this presentation nor any of the information contained herein constitutes an offer sale or exchange of securities, invitation to purchase or sale shares of the Company or any advice
Slide 4: 1Q26 Indra Group Highlights
=< INDRA GROUP 1026 Indra Group Highlights
Slide 5: 1Q26 Indra Group Main Highlights
1026 Indra Group Main Highlights | < INDRA GROUP = Change in Group Chairmanship - appointment of Angel Simon * Portfolio rotation: Closing of BPO divestiture; ongoing M&A pipeline of >20 deals = +3% increase in workforce vs 1025, boosted by growth in Defence (+35%) (ee EY (sins TD = Transfer of PEM
Slide 6: Tailwinds for Indra Space, operating already as an integrated player
Tailwinds for Indra Space, operating already as an integrated player Indra Space operating as an integrated player = INDRA SPACE = 1 = INDRA hispasat @hisde! Espacio Growing institutional investment in Space Increase in ESA budgets for the '26-'28 cycle? +32%—> €625 m Investment approved through the
Slide 7: Indra Group Technology roadmap | Minsait, IndraMind and Tech Operations
Indra Group Technology roadmap | Minsait, IndraMind and Tech Operations Indra Group with unique positioning to take advantage of Al disruption 0 Divestiture of non-core units: human capital intensive and non-Al resilient BUs and geographies ¢ Reduction of 5,000 technicians through BPO divestment 2]
Slide 8: 1Q26 Indra Group Performance
= INDRA GROUP 1026 Indra Group Performance
Slide 9: 1Q26 Group Financial Results
1026 Group Financial Results Headlines €20,3534m €2,856m €1,334m +154.1% +55.8% +14.6% 14.5 %reivam +54.7% YoY) 9.7% e120 +20.3% YoY) 8.9% ciiem +24.2% YoY) +3.8pp +0.5pp +0.7pp €-855m -1.3x Net Debt/EBITDA LTM €1,444m +1,764.8% 1926 performance in line with annual targets = Backlog reached €20.3bn
Slide 10: Sales Growth in 1Q26
Sales Growth in 1026 1926 Revenues 1Q26 Revenues breakdown by Geography AMEA +24% Reported + 15% Local Currency + 15% Europe 18% Spain Organic + 6% +20% America +15% 108 69 1,334 1926 EBIT breakdown by Division Mobility Air Traffic Minsait 1025 Inorganic FXimpact Organic 1026 Defence Defence, Space
Slide 11: Group Workforce Evolution
Group Workforce Evolution! Revenue LTM/Employee 43% +11% > >15% vs Dec 25 vs Mar 25 vs Mar '25 Considering divestitures 60,598 62,396 62,689 1,553 1,622 1,399 Overheads rn 2,868 2,864 Space 1,598 ee’ me Minsait mar-25 dec-25 mar-26 +3% increased workforce vs 5, boosted by Defence (+35%) INDRA For il
Slide 12: 1Q26 Performance by Division
=< INDRA GROUP 1026 Performance by Division
Slide 13: Indra Defence 1Q26
Indra Defence 1026 €11,402m €493m €275m +279.0% +42.8% +32.5% 25 . Term +64,8% YoY) 1 8 . O%esim +36.4% YoY) 1 8 . 1 oiesom+36.6% YoY) +5.0pp +0.6pp +0.4pp 1.80x 1.67x in 1025 8.29Xx 3.01x in 1025 1. EBIT before Other Operating Income & Expenses, including: staff reorganization, impairments, capital
Slide 14: Indra Space 1Q26
Indra Space 1026 €2,868m €56m €89m +1,349.9% +87.2% +393.0% KS Gccamcstaniai@a) TO % teem: €-2min1028) 6.0 camasminiees +46.8pp +17.8pp +17.6pp 0.63x 16.92x 1.66x in 1025 3.05x in 1025 1. Includes €2,704m from Hispasat & Hisdesat; 2.EBIT before Other Operating Income & Expenses, including staff reor
Slide 15: Indra Air Traffic 1Q26
Indra Air Traffic 1026 Qu Ain | hm a €1,155m €431m €138m = Order intake increased by +47%, driven +8.8% +47.2% +17.2% by radars contracts in US (FAA) and in UAE EBITDA Margin Operating Margin’ EBIT Margin Sales grew by +17%, driven Brazil {radio contracts), Canada (iTEC), radars in 16.8 %ressm 214%
Slide 16: Indra Mobility 1Q26
Indra Mobility 1026 €1,714m €768m €80m +67.0% +421.7% +1.2% 4.7% eam -31.7% YoY) 1.4% tem -70.0% YoY) 0.9 %eeim-70.4% YoY) -2.3pp -3.5pp -3.3pp 9.59x 1.86x in 1025 4.30x 2.84x in 1025 1. EBIT before Other Operating Income & Expenses, including staff reorganization, impairments, capital gains, integr
Slide 17: Minsait 1Q26
Minsait 1026 €3,215m €1,107m €752m +17.9% +8.8% +1.3% EBITDA Margin Operating Margin’ EBIT Margin 8 . 1 Sores +3.9% YoY) 6 . DA esom -0.9% YoY) 5 . S%ecasm +3.6% YoY) +0.2pp -0.ipp +0.2pp 1.47x 1.37x in 1025 1.02x 0.91x in 1025 ins, integration and acquisition Order intake increased by +9%, mainly d
Slide 18: 2026 Priorities
2026 Priorities || © Strategic Plan Leading the Future Scale-Up presentation before October 31 © Continue Industrial Plan implementation to deliver backlog programmes © Boost internationalization (organic and inorganic) to profit from geopolitical context © Continue Indra Group's evolution towards c
Slide 19: Indra Group reaffirms its 2026 financial guidance
Indra Group reaffirms its 2026 financial guidance Revenues (€m) EBIT (€m) ene eet een +17% > 7,000 2026 Guidance 2025 2026 2026 2026 2026 2026 2026 Guidance Strategic Guidance Guidance Strategic Guidance Guidance Strategic Guidance Plan Leading the Updated! Plan Leading the Updated2 Plan Leading the
Slide 20: 1Q26 Financial Highlights
=< INDRA GROUP 1026 Financial Highlights
Slide 21: 1Q26 FCF Generation
1026 FCF Generation FY25 €364m 77 65 a7 364 1926 €1,444m V7 -40 FCF Factoring PEM Net FCF comparable effect Prepayment reported 1,671 1,444 21
Slide 22: Net Working Capital Evolution
Net Working Capital Evolution Net Working Capital ST+LT (DoS) 16 -124 -9 | . - Inventory Accounts Receivable -55 Accounts Payable -173 INDRA Mar 25 Dec 25 Mar 26 »
Slide 23: 1Q26 Net Debt bridge
1026 Net Debt bridge Free Cash Flow €1,444m {€m) 583 -158 59 0 10 7 a -1,364 2025 Operating Net Capex Taxes Other Net Net Debt Cash Flow Working Financial interest Capital Liabilities Variation = INDRA GROUP. Financial Investments, FX Impact, Non-CF Items and Others 1926 Net Debt 23
Slide 24: Net Debt/EBITDA Evolution
Net Debt/EBITDA Evolution Net Debt (€m) (187) (187) (187) (187) (0) Factoring! 215 27 89 0.7x a .2x Oli -129 Net debt —® Net debt / “13x EBITDA LTM2 -855 Mar-22 Mar-23 Mar-24 Mar-25 Mar-26 1. Non-recourse factoring; 2. EBITDA LTM excluding IFRS 16, extraordinary items related to employee restructuri
Slide 25: Diversified Debt Structure
Diversified Debt Structure Gross and Net Debt Structure Gross Debt Maturity Profile €1,1970m €2,350m Corporate Bonds €1,495m R&D Loans Bank Loans €140m €86m €79m SE oe oe €-855m On es Gross Debt Cash & Cash 2026 2027 2028 2029 and beyond Equivalents (em) 1026 | %total : FY25 | %total L/T Debt 1,329
Slide 26: = INDRA
= INDRA GROUP
Slide 27: Investor Relations
= INDRA GROUP Tech for the future Investor Relations irindra@indra.es Avenida de Bruselas, 35 28108 Alcobendas Madrid Spain T +34 91 480 98 00 www.indragroup.com
Slide 28: = INDRA
= INDRA GROUP
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