Ex 2021/22 - Résultats semestriels - présentation pour les analystes (en anglais)

Half year results Fiscal Year 2021/22

10 November 2021

Disclaimer

• This presentation contains forward-looking statements which are based on current plans and forecasts of Alstom's management. Such forward-looking statements are relevant to the current scope of activity and are by their nature subject to a number of important risks and uncertainty factors (such as those described in the documents filed by Alstom with the French AMF) that could cause actual results to differ from the plans, objectives and expectations expressed in such forward-looking statements. These such forward- looking statements speak only as of the date on which they are made, and Alstom undertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.
• This presentation does not constitute or form part of a prospectus or any offer or invitation for the sale or issue of, or any offer or inducement to purchase or subscribe for, or any solicitation of any offer to purchase or subscribe for any shares or other securities in the Company in France, the United Kingdom, the United States or any other jurisdiction. Any offer of the Company's securities may only be made in France pursuant to a prospectus having received the visa from the AMF or, outside France, pursuant to an offering document prepared for such purpose. The information does not constitute any form of commitment on the part of the Company or any other person. Neither the information nor any other written or oral information made available to any recipient or its advisers will form the basis of any contract or commitment whatsoever. In particular, in furnishing the information, the Company, the Banks, their affiliates, shareholders, and their respective directors, officers, advisers, employees or representatives undertake no obligation to provide the recipient with access to any additional information.
• Any reference in this document to variations «Pro forma like-for-like», on orders and sales, correspond to a combined, non-audited, group vision including Alstom legacy fiscal year 2020/21 for the 1st Semester and legacy Bombardier Transportation contribution for 6 months of their fiscal year 2020 (April to September 2020) and are in line with Alstom accounting methods. The variations calculated using these combined figures exclude any scope and Forex adjustments.

© ALSTOM SA, 2021. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is	2
provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited.

Agenda

• H1 2021/22 highlights
• Business update
• H1 2021/22 financial results
• Conclusion and outlook

© ALSTOM SA, 2021. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is	3
provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited.

1	H1 2021/22 highlights

© ALSTOM SA, 2021. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is	4
provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited.

Solid H1 2021/22 results in line with Capital Markets Day on July 6th 2021

• Solid commercial performance in H1 2021/22 with book-to-bill above 1.3

€9.7bn

Order intake

€7.4bn

Sales

4.5% aEBIT margin

€(1.46)bn

FCF

• Backlog at €76.4bn
• Very large pipeline and strong mid-term rail market perspectives, with Alstom unique competitive positioning thanks to confirmed complementarities on portfolio of technologies and footprint
• Sales increase at +14% compared to last year proforma,
• Costs synergies confirmed, in line with capital markets day roadmap, resulting in S&A ratio improvement in H1 2021/22
• Progressive aEBIT recovery
• As anticipated, FCF impacted by non-recurring working capital build-up

After 8 months, Bombardier Transportation integration fully on track

© ALSTOM SA, 2021. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is	5
provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited.