Slide 1: Arcadis Q4 and Full Year 2025 Results
Arcadis Q4 and Full Year 2025 Results 19 February 2026 1
Slide 2: Speakers and Agenda
Speakers Alan Simon Heather Brookes Crowe Polinsky CEO CFO CEO Nominee Agenda 1 2 3 2025 Results Financial Looking ahead results and management actions © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 2
Slide 3: Part 1: 2025 Results
PART 1 2025 Results Alan Brookes CEO © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 3
Slide 4: 2025: Mixed results with strong cash performance
2025: Mixed results with strong cash performance Net Operating Operating EBITA Free Backlog Revenues EBITA2) Margin2) Cash Flow organic growth1) €3.8B €418M 11.1% €288M +3% Organic growth1): Growth yoy: 2024: Growth yoy: Total backlog -0.5% -6% 11.5% +26.3% €3.6B 1) Underlying YoY growth excl. impac
Slide 5: Mixed performance: strong performers fully offset by some areas of weakness
Mixed performance: strong performers fully offset by some areas of weakness Share in total NR: €3.8B Organic Net Revenue growth1) Intelligence Resilience 2% 38% Resilience Resilience Places Mobility Mobility 24% Places 36% +3.1% -5.5% +1.1% -0.5% Underperformers Under performers Environmental Restor
Slide 6: Environmental Restoration: large remediation projects winding down
Underperformers Environmental Restoration: large remediation projects winding down Environmental Restoration 2025 Performance Measures taken reflects • Completion of large • Management changes and 13% remediation projects. overhaul of account leads of total Good opportunities NR (25% replaced) comin
Slide 7: Property & Investment: significant market slowdown and delays
Underperformers Property & Investment: significant market slowdown and delays Property & Investment (P&I) 2025 Performance Measures taken reflects • Sector under pressure. • Extensive project portfolio 8% Macro stats2) on YoY review led to revenue of total residential real estate NR adjustments. Ind
Slide 8: Mobility UK & Australia: HS2 wind down and soft Australia infrastructure market
Underperformers Mobility UK & Australia: HS2 (UK) wind down and soft Australia infrastructure market Mobility UK & Australia 2025 Performance Measures taken reflect 11% UK UK of total • HS2 projects wind-down • Redeployed excess NR • Delayed Spending resources globally Review • Wins in H2 ‘25 drivin
Slide 9: Water Optimization, Energy Transition & Climate Adaptation: cementing leadership position
High Growth Areas Water Optimization, Energy Transition & Climate Adaptation: cementing leadership position Water, Energy, Climate 2025 Performance Recent project win • Strong US market driving Arcadis provides technical, permitting and water revenues regulatory support for new nuclear power plant r
Slide 10: Technology: excellent data center performance, mixed semiconductor market
High Growth Areas Technology: excellent data center performance, mixed semiconductor market Technology 2025 Performance Recent project win • Data centers leading Various European Data center wins position from permitting and sustainable design reflects 6% • Currently involved in 280 of total project
Slide 11: Mobility North America, Netherlands and Germany: excellent results driven by large contracts
High Growth Areas Mobility North America, Netherlands and Germany: excellent results driven by large contracts Mobility North America, 2025 Performance Recent project win Netherlands, Germany • Large projects for Extensive renovation of Fraser River Tunnel, Amsterdam Central Station ProRail, Deutsch
Slide 12: Part 2: Financial Results and Management Actions
PART 2 Financial Results and Management Actions Simon Crowe CFO © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 12
Slide 13: Full year results
Arcadis financial results Full year results Arcadis • Organic net revenue growth of -0.5% with € million excl. P&I Places decline offsetting growth in 2025 2024 Delta 2025 Resilience Net Revenues 3,760 3,880 -3% 3,444 – Excl. Property & Investment (P&I): 1.3% Organic net revenue growth1) -0.5% 4.5%
Slide 14: Fourth quarter results
Arcadis financial results Fourth quarter results Arcadis • Organic net revenue decline fully driven by € million excl. P&I Property & Investment 2025 2024 Delta 2025 • Operating EBITA margin at 13.5% when Net Revenues 887 959 -7% 825 excluding P&I Organic net revenue growth1) -2.9% 2.8% 0.6% – Resil
Slide 15: Property & Investment
Arcadis financial results | Places Property & Investment Property & Investment • Weak residential market outlook and € million 2024 2025 9M’25 Q4’25 significant project delays Net Revenues 391 316 254 62 €22M revenue reduction in Q4, following portfolio review • Roll out of the Oracle ERP system Org
Slide 16: Fourth quarter management actions to support repositioning
Measures to drive performance Fourth quarter management actions to support repositioning Go-to market: Key Clients focus, Continued incentivization and investments Ramp up of rightsizing Driving cash discipline pricing strategy in automation in fourth quarter Record cash in Q4 Sales force hires in Q
Slide 17: Right-size cost base: Simplify organization and operations
Measures to drive performance Right-size cost base: Simplify organization and operations 2025 measures taken 2026 measures • Total non-operating costs: €77M (Q4: €39M) • Continued rightsizing of business and overhead – Total restructuring costs: €53M (Q4: €22M): staff; in line with measures taken in
Slide 18: Backlog performance: order intake step up in fourth quarter
Arcadis financial results Backlog performance: order intake step up in fourth quarter Full year results Backlog movement • Organic backlog growth of +2.7%: € million – Strong Data Centers €3.6B – Q4 order intake step up, large 2024: €3.7B Backlog multi-year contracts wins in: Net Revenues o US Pharm
Slide 19: Resilience: Strong margin expansion from improved quality of portfolio
Global Business Areas | Resilience | 38% of total Net Revenues Resilience: Strong margin expansion from improved quality of portfolio Full year results Quarterly trend • Strong performance US, Germany € million, % and Netherlands, from Water, 3.1% Energy (grid) and Climate 1.07 • Revenues impacted b
Slide 20: Places: Navigating market challenges amid pockets of good performance
Global Business Areas | Places | 36% of total Net Revenues Places: Navigating market challenges amid pockets of good performance Full year results Quarterly trend • Revenue decline driven by: € million, % – Weak Property & -5.5% Investment (P&I). Growth for full year excl. P&I at -1.3% Organic Net R
Slide 21: Mobility: Procurement delays and regulatory reviews push large project wins out
Global Business Areas | Mobility | 24% of total Net Revenues Mobility: Procurement delays and regulatory reviews push large project wins out Full year results Quarterly trend • Revenue driven by North America, € million, % Netherlands, Germany 1.1% • UK impacted by HS2 wind down; 1.28 1.29 macro hea
Slide 22: Intelligence: Cross GBA collaboration driving value for clients
Global Business Areas | Intelligence | 2% of total Net Revenues Intelligence: Cross GBA collaboration driving value for clients Full year results Quarterly trend • Key revenue drivers: € million, % EDA, EAM and Digital 5.8% Transportation products • Intelligence products have been Organic Net Revenu
Slide 23: Record cash performance
Arcadis financial results Record cash performance € million 2025 2024 Free Cash Flow1) and Net Working Capital % • Tightening of global invoice and Operating EBITDA 523 557 € million, % collection process resulted in Non-operating costs -77 -29 strong cash collection in the EBITDA 447 529 quarter wi
Slide 24: Balanced capital allocation framework with leverage ratio at lower end of strategic range
Arcadis financial results Balanced capital allocation framework with leverage ratio at lower end of strategic range 2025 Cash Generation and Capital Allocation € millions Share buyback Dividends M&A 1.5x 2024:1.3x024: €3.9B -136 Net Debt / Op. EBITDA Target range: 1.5-2.5x 288 -89 -84 -21 €1.05 2024
Slide 25: Part 3: Looking ahead
PART 3 Looking ahead Heather Polinsky CEO Nominee © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 25
Slide 26: Platform of leading positions in key growth markets
Looking ahead Platform of leading positions in key growth markets Major Energy/Power Technology & infrastructure Water & Resources Life Sciences project delivery Top 4 international #3 global player in Leading international A strategic partner of designer in Water transmission and engineer & consult
Slide 27: Differentiate with smart, digital solutions
Looking ahead Differentiate with smart, digital solutions Major Energy/Power Technology & infrastructure Water & Resources Life Sciences project delivery Digital partnership Digital product Digital partnership Digital product Voda AI Climate Risk Nexus Nvidia Omniverse Enterprise Asset Partnership P
Slide 28: Driving future growth through a focused, client-led organization
Looking ahead Driving future growth through a focused, client-led organization Refocus business on Simplify to Drive high growth markets accelerate growth cultural change • Water, Energy / Power, • Simplify decision making for • Clear client focus Technology, Large Infra more agility and client focu
Slide 29: 2026 Outlook: Growth and Margin
Looking ahead 2026 Outlook: Growth and Margin Net revenue organic growth: Operating EBITA margin: Flat 11.7% - 12.0% Organic net revenue growth flat, with a weak start to the year Margin improvement to be driven by: • 30 bps savings from overhead reductions Resilience: • Continued targeted restructu
Slide 30: Building foundations for next profitable growth phase
Wrap up Building foundations for next profitable growth phase 2026: Driving accountability & First steps taken performance Strategy 2027-2029 • Cash discipline reinstated • Client centricity with further CMD targeted for November 2026: • Salesforce strengthened in key alignment in rewards • Strategi
Slide 31: Q&A
PART 4 Q&A © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 31
Slide 32: Appendix
PART 5 Appendix © Arcadis 2026 | Arcadis Q4 and Full Year 2025 Results 32
Slide 33: Global Business Areas financial performance
Appendix Global Business Areas financial performance Full Year 2025 Resilience Places Mobility Intelligence Total € million 2025 2024 change 2025 2024 change 2025 2024 change 2025 2024 change 2025 2024 change Net revenues 1,423 1,448 -2% 1,337 1,479 -10% 906 861 5% 94 93 1% 3,760 3,880 -3% Share in
Slide 34: Balance Sheet
Appendix Balance Sheet € million | period ended 31 December 2025 2025 2024 € million | period ended 31 December 2025 2025 2024 Assets Equity and liabilities Non-current assets Shareholders' equity Intangible assets and goodwill 1,472.6 1,506.5 Total equity attributable to equity holders of the compa
Slide 35: Key Performance Indicators
Appendix Key Performance Indicators KPIs Full Year KPIs Full Year € million | period ended 31 December 2025 2025 2024 € million | period ended 31 December 2025 2025 2024 Gross Revenues 4,875 4,995 Amortization and impairment 25 29 EBITA 341 418 Tax effect amortizing indentifiable -6 -7 EBITA Margin
Slide 36: Disclaimer
Disclaimer Statements included in this presentation that are not The forward-looking statements are based upon our current historical facts (including any statements concerning expectations, plans, estimates, assumptions and beliefs that investment objectives, other plans and objectives of involve n