Slide 1: FY Results 2025
Solutions30 Solutions For New Technologies 30 MARCH 2026
Slide 2: Disclaimer
DISCLAIMER This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements – that is statements related to future, not past, events – in relation to, or in respect of, the financial condition, operations or businesses of Solution
Slide 3: Today's Presenters
TODAY’S PRESENTERS Gianbeppi Fortis Amaury Boilot Chief Executive Officer Group General Secretary 3
Slide 4: 2025 Highlights
2025 HIGHLIGHTS Gianbeppi Fortis, CEO
Slide 5: 2025 results reflecting continued strategic refocusing in a contrasted market environment
2025 RESULTS REFLECTING CONTINUED STRATEGIC REFOCUSING IN A CONTRASTED MARKET ENVIRONMENT Revenue Ongoing intensive efforts to rationalize and refocus our activities in mature markets €892m Contained -5.4% decrease1 Segment “Other Countries” Connectivity in France Significant streamlining successful
Slide 6: 2025: Significant drag from French connectivity, robust performance across the rest of the Group
2025: SIGNIFICANT DRAG FROM FRENCH CONNECTIVITY ROBUST PERFORMANCE ACROSS THE REST OF THE GROUP Rest of the Group 85% of 2025 revenue France Energy & French Connectivity Technology Robust performance overall, demonstrating 15% of 2025 revenue 19% relevance of Solutions30’s model Significant drag on
Slide 7: Growth drivers in motion
GROWTH DRIVERS IN MOTION Belgium: modernization of railway France: Geugnon floating PV project France: Agrivoltaic power plant for Germany: FTTH roll-out in Köngen signaling Reden Solar in Montréal Spain: e-mobility contract with Fastned Poland:acquisition of a majority stake Italy: renewal of Fiber
Slide 8: Limited decrease in revenue, continued mix rebalancing
LIMITED DECREASE IN REVENUE CONTINUED MIX REBALANCING 2025 revenue breakdown € -50.7m (-5.4%) 943.0 102.7 +27.1 892.4 12% -70.3 -7.4 2024R: 12% Total: 609.6 180.1 € 892.4m 68% 2024R: 72% 20% 2024R: 16% -10.3% -6.7% +17.7% start 1 Connectivity Tech Energy end Connectivity Energy Technology 2024R Conn
Slide 9: 7.3% Adjusted EBITDA margin in 2025
7.3% ADJUSTED EBITDA MARGIN IN 2025 Adjusted Ebitda in % of revenue 1 Margin-accretive impact of exit of UK market and disposal 1 of Spanish Connectivity activity in 2025 (accounted for as discontinued operations), in line with strategic refocusing 2 7,9% and priority on margins over revenue 7,5% 7,
Slide 10: 2025 Financial Results
2025 FINANCIAL RESULTS Amaury Boilot, Group General Secretary
Slide 11: Income statement highlights
INCOME STATEMENT HIGHLIGHTS Change FY 2024 € millions FY 2025 FY 2024R1 25/24R1 published Revenue 892.4 943.0 -5.4% 996.0 Operational costs 750.0 778.6 -3.7% 826.1 As % of turnover 84.0% 82.6% 82.9% Central org. costs 77.2 89.8 -14.0% 94.8 As % of turnover 8.7% 9.5% 9.5% Adjusted EBITDA2 65.2 74.6 -
Slide 12: Benelux: significant margin increase, connectivity returns to growth in Q4
BENELUX: SIGNIFICANT MARGIN INCREASE, CONNECTIVITY RETURNS TO GROWTH IN Q4 Revenue Adjusted EBITDA -5.1% +19.7% ▪ Connectivity back to positive territory in Q4: +5.0%; expected to keep performing in 2026 371.6 ▪ Energy: grid services ramp-up mitigating 352.6 64,8 Energy 50,0 18,0% decrease in mature
Slide 13: France: pressure in connectivity, adaptation plan in progress
FRANCE: PRESSURE IN CONNECTIVITY, ADAPTATION PLAN IN PROGRESS Revenue Adjusted EBITDA ▪ Margin pressure in deteriorated fiber -15.4% -57.5% roll-out market ▪ Comprehensive adaptation measures launched 360.8 in 2025 and strengthened in 2026 Energy 305.3 78,4 +32.3% 40,0 35,0 34,1 14,0% ▪ Objective: f
Slide 14: Germany: continued scale-up in a high-potential market still undergoing structuring
GERMANY: CONTINUED SCALE-UP IN A HIGH-POTENTIAL MARKET STILL UNDERGOING STRUCTURING Revenue Adjusted EBITDA ▪ Strong organic growth (+13.5%) +13.5% -35.8% ▪ Uneven pace of fiber deployment operations: longer administrative and operational lead times, more selective approach by operators 30,0 18,0% a
Slide 15: Other Countries: strong improvement in growth and margin profile following streamlining actions
OTHER COUNTRIES: STRONG IMPROVEMENT IN GROWTH AND MARGIN PROFILE FOLLOWING STREAMLINING ACTIONS Revenue Adjusted EBITDA ▪ Successful completion of rationalization and +9.9% +65.5% refocusing actions in line with strategic roadmap: • Full exit of UK market 10,0% • Spain: disposal of Connectivity acti
Slide 16: Net income impacted by intensive streamlining and refocusing actions
NET INCOME IMPACTED BY INTENSIVE STREAMLINING AND REFOCUSING ACTIONS PAVING THE WAY FOR FUTURE PROFITABILITY IMPROVEMENTS € millions FY 2025 FY 2024R1 1 Non-recurring items: mainly restructuring costs Adjusted EBIT 7.3 29.5 associated to turnaround of “Other Countries” Amortisation of intangibles -1
Slide 17: 2025 change in gross cash position
2025 CHANGE IN GROSS CASH POSITION Net free cash-flow: € -21.4m Free cash-flow: € 15.0m 45,0 -18,1 -11,9 96,3 5,3 73,2 -36,4 -2,6 -4,3 Earn-out Evolution of activity payment mix in Energy toward €-3.1m Net change in more EPC project loans Minorities Acquisitions of €12.3m €-2.4m Decrease in factorin
Slide 18: Financial structure
FINANCIAL STRUCTURE Liquidity Fixed assets Equity 108.1 Fixed assets Equity 46.9 €73.2m in gross cash at end Dec. 2025 214.4 176.7 €12m in undrawn available credit lines Provisions 38.2 Provisions 38.3 IFRS 16 Lease Debt 68.8 IFRS 16 Lease Debt 57.3 Limited net bank debt Debt on future earn outs & D
Slide 19: Corporate Social Responsibility
CORPORATE SOCIAL RESPONSIBILITY Amaury Boilot, Group General Secretary
Slide 20: 2025 Highlights
2025 HIGHLIGHTS ENVIRONNEMENTAL SOCIAL GOVERNANCE GHG reduction targets approved by the SBTi (from a 2023 base year): Improved Injury Severity Rate (ISR) CSRD - aligned Annual Report 0.58 injury severity rate vs. 0.65 in 2024 ▪ Reduce absolute Scope 1 & 2 GHG (uninterrupted reduction since 2021) emi
Slide 21: 2026 Objectives
2026 OBJECTIVES ENVIRONNEMENTAL SOCIAL GOVERNANCE ▪ Further reduce Absolute Carbon ▪ Maintain Injury Severity ▪ Manage at least 97% of Footprint by: Rate* under a certain level (< 0.65 at subcontractors on mySupplace • 27% for Scope 1 compared to 2023 group level) platform • 25% for Scope 2 compared
Slide 22: Conclusion
CONCLUSION Gianbeppi Fortis, CEO 22
Slide 23: 2026 Priorities
2026 PRIORITIES Continued implementation of strategic roadmap in a contrasted market environment Selectivity, operational discipline, refocusing of activity mix Ongoing streamlining and adaptation measures on mature markets Achieve Group repositioning and sustainably improve growth and margin profil
Slide 24: Q&A
Q&A PLEASE TYPE IN YOUR QUESTION BY USING THE BUTTON ON THE READER 24
Slide 25: Appendix
Appendix
Slide 26: FY25 Revenue Bridge
FY25 REVENUE BRIDGE € -50.7m (-5.4%) Organic change: € -64.9m (-6.9%) 943.0 -19.0 -68.8 517.4 +11.4 +11.5 +14.2 0.0 892.4 -5.1% -19.1% +13.5% +9.1% Benelux - Organic Germany Acquisitions Revenue - 2023 2024R H1 20241 Benelux France France - Organic Germany Other Other Countries -… Acquisitions FX FX
Slide 27: 2025 Group revenue by geography and by activity
2025 GROUP REVENUE BY GEOGRAPHY AND BY ACTIVITY -5.4% -5.4% 943.0 943.0 892.4 Energy 892.4 153,0 +17.7% 180,1 360,8 France 305,3 110,1 -15.4% Technology 102,7 -6.7% Benelux 371,6 -5.1% 352,6 679,9 Connectivity -10.3% 609,6 Germany 84,4 +13.5% 95,9 Other Countries 126,2 +9.9% 138,7 2024R 1 2025 2024R
Slide 28: www.solutions30.com
www.solutions30.com 21 rue du Puits Romain L-8070 Bertrange, Grand Duchy of Luxembourg Investor.relations@solutions30.com Solutions 30 is listed on Euronext Paris Mnemo: S30