Prysmian S p A : Presentation (1st Quarter 2025 )

‌PRYSMIAN Q1 2025 INTEGRATED RESULTS

8.05.2025

‌Q1 2025 INTEGRATED RESULTS

HIGHLIGHTS

& GROUP OVERVIEW

‌Q1 2025 KEY HIGHLIGHTS

STRONG GROWTH WITH SOLID MARGINS

ADJ. EBITDA

540

518

527

457

412

12.4% 12.7% 13.8% 12.7%

Adj. Ebitda %

13.1% at standard

metal prices

Q1'24

Q2'24 Q3'24 Q4'24

Q1'25

Continuing to delivery

Solid margins and

strong cash generation LTM

ESG Performance

Adj. EBITDA Adj. EBITDA % at

standard metal prices

GHG emissions LTM (Scope 1&2 vs 2019)

Brought forward from

the previous 2050

Organic Growth

FCF LTM

Revenues linked to sustainable solutions

% of recycled content

3

‌TRANSMISSION

EXCELLENT PERFORMANCE, GROWTH & MARGIN IMPROVEMENT

Smooth execution and better mix. Backlog at approx. 17 €Bn

ADJ. EBITDA SEQUENTIALLY EVOLUTION

Q1 RESULTS

REVENUES

ADJUSTED EBITDA

Org. Growth

743

124

474

62

Adj. Ebitda % at standard metal prices

Q1 2024

Q1 2025

Q1 2024

Q1 2025

13.0%

16.6%

Adj. Ebitda % at current metal prices

13.1%

16.9%

14.5%

16.9%

119 124

Q4 2024 Q1 2025

Adj. Ebitda % at standard metal prices

Adj. Ebitda %

15.0%

16.6%

at current metal prices

Euro Millions

4

‌POWER GRID

ROBUST MARGIN CONFIRMED

ADJ. EBITDA SEQUENTIALLY EVOLUTION

Q1 RESULTS

REVENUES

ADJUSTED EBITDA

Org. Growth

852

874

115

116

Adj. Ebitda % at standard metal prices

Q1 2024

Q1 2025

Q1 2024

Q1 2025

13.5%

13.3%

Adj. Ebitda % at current metal prices

15.2%

14.8%

117 116

15.2%

15.4%

Adj. Ebitda % at standard metal prices

Q4 2024 Q1 2025

Adj. Ebitda %

13.5%

13.3%

at current metal prices

Euro Millions

5

‌INDUSTRIAL & CONSTRUCTION

SLOW START IN JANUARY AND FEBRUARY, SOLID MARCH

ADJ. EBITDA SEQUENTIALLY EVOLUTION

Q1 RESULTS

REVENUES

ADJUSTED EBITDA

Org. Growth

1,923

173

1,193

114

Adj. Ebitda % at standard metal prices

Q1 2024

Q1 2025

Q1 2024

Q1 2025

9.5%

9.0%

Adj. Ebitda % at current metal prices

11.3%

11.6%

185

173

11.6%

12.9%

Adj. Ebitda % at standard metal prices

Q4 2024 Q1 2025

Adj. Ebitda %

10.2%

9.0%

at current metal prices

Euro Millions

6

‌SPECIALTIES

SOUND SEQUENTIAL IMPROVEMENT ACROSS BUSINESSES

ADJ. EBITDA SEQUENTIALLY EVOLUTION

Q1 RESULTS

REVENUES

ADJUSTED EBITDA

Org. Growth

762

777

85

74

Adj. Ebitda % at standard metal prices

Q1 2024

Q1 2025

Q1 2024

Q1 2025

11.1%

9.5%

Adj. Ebitda % at current metal prices

11.5%

12.6%

59

9.6%

11.5%

74

Adj. Ebitda % at standard metal prices

Q4 2024 Q1 2025

Adj. Ebitda %

8.1%

9.5%

at current metal prices

Euro Millions

7

‌DIGITAL SOLUTIONS

POSITIVE START OF THE YEAR. STRONG PROFITABILITY

ADJ. EBITDA SEQUENTIALLY EVOLUTION

Q1 RESULTS

REVENUES

ADJUSTED EBITDA

Org. Growth

312

339

42

32

Adj. Ebitda % at standard metal prices

Q1 2024

Q1 2025

Q1 2024

Q1 2025

10.4%

12.5%

Adj. Ebitda % at current metal prices

10.8%

13.2%

13.2%

13.2%

40 42

Q4 2024 Q1 2025

Adj. Ebitda % at standard metal prices

Adj. Ebitda %

12.5%

12.5%

at current metal prices

Euro Millions

8

‌Q1 2025 ESG HIGHLIGHTS

Circular economy 42.9% revenues linked to sustainable solutions

vs 43.1% in FY 2024

18.8% recycled content on PE jacket and copper

vs 16.2% in FY 2024

19.5% Executive women

vs 19.2% in FY 2024

Social ambition Climate ambition

-37% reduction of Scope 1&2 GHG Emissions LTM*

vs 37% in FY 2024

45.2% of desk workers women hired

vs 47.5% in FY 2024

* Q1 2025 GHG emission reduction is calculated over the last twelve months (1 April 2024 - 31 March 2025)

9

‌Q1 2025 INTEGRATED RESULTS

FINANCIAL RESULTS

Pier Francesco Facchini

Prysmian CFO

‌PROFIT & LOSS STATEMENT

Q1 2025 Q1 2024

REVENUES	4,771	3,687
YoY organic growth	5.0%
Adj.EBITDA	527	412
% on revenues at current metal prices	11.0%	11.2%
% on revenues at standard metal prices	13.1%	12.4%
Adj.EBIT	377	312
% on revenues	7.9%	8.5%
Adjustments	(20)	(19)
Non monetary items	(72)	(6)
EBIT	285	287
% on revenues	6.0%	7.8%
Financial charges	(73)	(22)
EBT	212	265
Taxes	(57)	(75)
% on EBT	26.9%	28.3%
NET INCOME	155	190
Minorities	5	5
GROUP NET INCOME	150	185

11

Euro Millions

‌EXCELLENT CASH GENERATION

+998 €M Free Cash Flow

4,126

( 357 )

( 1,557 )

1,693		( 479 )	227 847 210 ( 19 ) 193 4,884
31-Mar-24 Acquisition Convertible	Cash flow	WC	Net	Financial	Dividend	Dividend	IFRS 16, FX, 31-Mar-25
net debt Bonds, Share Buy-Back, Other	operations (before WC changes)	changes	Operative Capex	Charges	received	paid	Other net debt

Euro Millions

12

‌Q1 2025 INTEGRATED RESULTS

2025 OUTLOOK & CLOSING REMARKS

‌2025 GUIDANCE CONFIRMED

ADJ. EBITDA

2025 TARGET (€M)

2,250

2,350

2,300

Mid-point

FCF 2025

TARGET (€M)

950

1,050

1,000

Mid-point

GHG EMISSIONS

2025 vs. 2019

Scope 1&2 -38% / -40%

Channell contribution not yet included in the guidance

14

‌CLOSING REMARKS

1.

CHANNELL

Prysmian's first major acquisition in Digital Solutions

2024 REVENUES BREAKDOWN

USA

>90%

Vaults

Fiber Optics

Thermoplastic Enclosures

Metal Enclosures

Excellent performance in Transmission

2.

Outstanding cash generation at

approx. C1 billion LTM

3.

Channell acquisition on track, closing

expected in Q2

4.

2025 outlook confirmed

15

‌Appendix

16

‌FINANCIAL HIGHLIGHTS

Revenues

Q1 2025

Q1 2024

Adj.EBITDA

Q1 2025 Q1 2024

€M organic growth

€M €M Adj.EBITDA

Margin

€M Adj.EBITDA

Margin

TRANSMISSION	743	57.2%	474
POWER GRID	874	-2.2%	852
INDUSTRIAL & CONSTRUCTION	1,923	-1.0%	1,193
SPECIALTIES	777	-4.3%	762
OTHER	115	0.0%	94
ELECTRIFICATION	2,815	-1.9%	2,049
DIGITAL SOLUTIONS	339	3.4%	312
TOTAL GROUP	4,771	5.0%	3,687

124	16.6%	62	13.0%
116	13.3%	115	13.5%
173	9.0%	114	9.5%
74	9.5%	85	11.1%
(2)	-1.7%	4	4.7%
245	8.7%	203	9.9%
42	12.5%	32	10.4%
527	11.0%	412	11.2%

17

‌REVENUES AT STANDARD METAL PRICES

Revenues current Revenues Standard

Revenues

€M

Adj. Ebitda

€M

Adj. Ebitda margin

Revenues

€M

Adj. Ebitda

€M

Adj. Ebitda margin

	TRANSMISSION	743	124	16.6%
	POWER GRID	874	116	13.3%
Q1	ELECTRIFICATION	2,815	245	8.7%
	I&C	1,923	173	9.0%
2025
	Specialties	777	74	9.5%
	DIGITAL SOLUTIONS	339	42	12.5%
	TOTAL GROUP	4,771	527	11.0%

733 124 16.9%

759 116 15.2%

2,222 245 11.0%

1,479 173 11.6%

647 74 11.5%

320 42 13.2%

4,034 527 13.1%

	TRANSMISSION	474	62	13.0%	471	62	13.1%
	POWER GRID	852	115	13.5%	776	115	14.8%
Q1 2024	ELECTRIFICATION	2,049	203	9.9%	1,780 1,008 676	203 114 85	11.4% 11.3% 12.6%
	I&C	1,193	114	9.5%
	Specialties	762	85	11.1%
	DIGITAL SOLUTIONS	312	32	10.4%	301	32	10.8%
	TOTAL GROUP	3,687	412	11.2%	3,328	412	12.4%

Standard copper price of €5,500/ton. Standard aluminum price of €1,500/ton. Standard lead price of €2,000/ton. 18

‌SOLID FINANCIAL STRUCTURE

Average debt maturity of 4.1 years (including Revolving Credit Facility)

CURRENT FINANCIAL DEBT MATURITY PROFILE (7)

CM

Bank

Bond

Sust. linked RCF (undrawn)

Fixed/Variable rate composition

Fixed

~80%

Variable

~20%

2,544

EUROBOND 3.625%

EUROBOND

3.875%

700

1,200

850

650

75

198

SUST. LINKED TL 2022

2025 2026 2027 2028 2029 2030 2031 2032

19

‌PROFIT & LOSS STATEMENT

Q1 2025 Q1 2024

Adjustments and non monetary items on EBIT

Q1 2025 Q1 2024

Non-recurring Items Restructuring Other Non-operating Income / (Expenses)	(2) (6) (12)	(2) (19) 2
EBITDA adjustments	(20)	(19)
Non monetary items	(72)	(6)
Gain/(loss) on derivatives on commodities	(55)	8
Assets impairment	-	-
Share-based compensation	(17)	(14)
EBIT adjustments	(92)	(25)

REVENUES YoY total growth YoY organic growth	4,771 29.4% 5.0%	3,687
Adj.EBITDA	527	412
% on revenues at current metal prices	11.0%	11.2%
% on revenues at standard metal prices	13.1%	12.4%
of which share of net income	7	4
Adjustments	(20)	(19)
EBITDA	507	393
% on revenues	10.6%	10.7%
Adj.EBIT	377	312
% on revenues	7.9%	8.5%
Adjustments	(20)	(19)
Non monetary items	(72)	(6)
EBIT	285	287
% on revenues	6.0%	7.8%
Financial charges	(73)	(22)
EBT	212	265
Taxes	(57)	(75)
% on EBT	26.9%	28.3%
NET INCOME	155	190
Minorities	5	5
GROUP NET INCOME	150	185
% on revenues	3.1%	5.0%

Financial Charges

Q1 2025 Q1 2024

Net interest expenses of which non-cash conv.bond interest exp.	(56) -	(12) (2)
Financial costs IFRS 16	(4)	(3)
Bank fees amortization	(4)	-
Gain/(loss) on exchange rates and derivatives	(9)	(7)
Non recurring and other effects	-	-
Net financial charges	(73)	(22)

Euro Millions 20

‌STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)

31-Mar-25 31-Mar-24 31-Dec-24

Net fixed assets	9,917	5,798	10,097
of which: goodwill	3,388	1,681	3,499
Net working capital	1,489	1,264	890
of which: derivatives assets/(liabilities)	70	45	81
of which: Operative Net working capital	1,419	1,219	809
Provisions & deferred taxes	(1,045)	(752)	(1,084)
Net Capital Employed	10,361	6,310	9,903
Employee provisions	307	333	310
Shareholders' equity	5,170	4,284	5,297
of which: attributable to minority interest	200	191	210
Net financial debt	4,884	1,693	4,296
Total Financing and Equity	10,361	6,310	9,903

Euro Millions

21

‌CASH FLOW STATEMENT

Adj.EBITDA	527	412	2,042
Adjustments	(20)	(19)	(174)
EBITDA	507	393	1,868
Net Change in provisions & others	(18)	(9)	(9)
Share of income from investments in op.activities	(7)	(15)	(33)
Cash flow from operations (before WC changes)	482	369	1,826
Working Capital changes	(710)	(724)	479
Dividends received	6	3	19
Paid Income Taxes	(39)	(27)	(273)
Cash flow from operations	(261)	(379)	2,051
Acquisitions/Disposals	-	-	(4,126)
Net Operative CAPEX	(164)	(102)	(846)
Net cash flow from equity-accounted companies	-	-	(1)
Free Cash Flow (unlevered)	(425)	(481)	(2,922)
Financial charges	(86)	(18)	(210)
Free Cash Flow (levered)	(511)	(499)	(3,132)
FCF (levered) excl. Acquisitions & Disposals and antitrust impact	(510)	(497) 998
Dividends	-	(9)	(193)
Share buy-back and other equity movement	(49)	-	(376)
Net Cash Flow	(560)	(508)	(3,701)
Net Financial Debt beginning of the period	(4,296)	(1,188)	(1,693)
Net cash flow	(560)	(508)	(3,701)
Equity component of Convertible Bond 2021	-	-	733
NFD increase due to IFRS16	(54)	(23)	(146)
Other variations	26	26	(77)
Net Financial Debt end of the period	(4,884)	(1,693)	(4,884)

31-mar-25 31-mar-24

12 Months (from 1/4/2024 to 31/3/2025)

Euro Millions

22

‌Bridge consolidation revenues

TRANSMISSION

POWER GRID

INDUSTRIAL & CONSTRUCTION*

271

2

( 4 )

743

474

Org.growth

+57.2%

Q1 2024 Organic

Growth

Metal

Effect

Exchange

Rate

Q1 2025

( 18 )

35

5

852

Org.growth

-2.2%

874

Q1 2024 Organic

Growth

Metal

Effect

Exchange

Rate

Q1 2025

( 18 )

143

22

1,776

Org.growth

-1.0%

1,923

Q1 2024 Organic

Growth

Metal

Effect

Exchange

Rate

Q1 2025

( 32)

47

-

762

Org.growth

-4.3%

777

Q1 2024 Organic

Growth

Metal Exchange Q1 2025

Effect Rate & other

TOTAL PRYSMIAN*

213

255

34

4,269

Org.growth

+5.0%

4,771

Q1 2024 Organic

Growth

Metal

Effect

Exchange

Rate & other

Q1 2025

10

6

11

312

Org.growth

+3.4%

339

Q1 2024 Organic

Growth

Metal Exchange Q1 2025

Effect Rate & other

SPECIALTIES

DIGITAL SOLUTIONS

Euro Millions

*Q1 2024 including Encore Wire. For further info please refer to note 3 at slide 27 23

‌A TRULY PUBLIC COMPANY, BASED ON INCLUSION

INSTITUTIONAL INVESTORS

US 31%

UK 26%

France 12%

Rest of EU 11%

Italy 6%

Germany 5%

Switzerland 3% RoW 6%

PRYSMIAN SHAREHOLDING STRUCTURE

3% Employees

and Directors

7.5% Retail

3% Treasury shares

43%

ESG investors

86.5%

Institutional Investors

24

‌We innovate to support our customers and to go beyond the value chain

E3X Robot Megawatt charging solutions Circular economy Sirocco Extreme Alesea Product design Supply chain digitalization Selection of innovative solutions Smart accessories All Ground PRY-ID

25

80

A

76

‌SUSTAINABILITY DEVELOPMENT GOALS

20

40

60

80

100

CCC

B

BB

BBB

A

AA

AAA

20

40

60

80

100

1

2

3

4

5

2

4

6

8

10

10

20

30

40

4.0

6.1

16

We are included in

200

150

100

50

20

40

60

80

100

D-

D

C-

C

B-

B

A-

A

66

58

A-

26

‌Notes

1. Adjusted EBITDA margin at the standard metal prices calculation takes into account set standard prices for copper (C5,500 per ton), aluminum (C1,500 per ton) and lead (C2,000 per ton) over a period of years to remove the volatility from market fluctuations in metal prices.

2. Revenues are reported at current metal prices

3. Organic growth is calculated net of changes in the scope of consolidation, changes in metal prices and exchange rate effects. As per 2025 organic growth calculation, Encore Wire has not been considered a change in scope of consolidation, so the organic growth has been calculated by including Encore Wire's sales in the corresponding 2024 period on a pro-forma base.

4. FCF excluding Acquisitions & Disposals and Antitrust impact;

5. Adjusted EBITDA: EBITDA excluding restructuring, non-operating income/expenses and non-recurring income / expenses

6. Slide 12: Cash flow operations (before WC changes)

   of 1,557 CM including tax paid for 273 CM

7. Slide 19: Current financial debt maturity profile (excluding debt held by affiliates and debt coming from IFRS 16 - 400 CM and 306 CM respectively) - at 31.03.2025:

   • 2025: CDP (75 CM)

   • 2029: EIB 2022 (135 CM); CDP 2023 (120 CM); MB

     (150 CM); UCG (150 CM); Encore Wire TL (989 CM);

     Sust. linked RCF 2023 (drawn) 300 CM

   • 2031: EIB 2024 (198 CM)

8. Slide 23: The Prysmian Total includes "other Electrification", not explicitly illustrated, because it is not material, and consider I & C on reporting Bases as per sales. Furthermore, Industrial & Construction figures are here presented as combined basis, as if Encore Wire had been consolidated since 1st January 2024

27

‌Disclaimer

• The managers responsible for preparing the company's financial reports, A.Brunetti and S.Invernici, declare, pursuant to paragraph 2 of Article 154-bis of the Consolidated Financial Act, that the accounting information contained in this presentation corresponds to the results documented in the books, accounting and other records of the company.

forward-looking statements. This document does not represent investment advice or a recommendation for the purchase or sale of financial products and/or of any kind of financial services. Finally, this document does not represent an investment solicitation in Italy, pursuant to Section 1, letter (t) of Legislative Decree no. 58 of February 24, 1998, or in any other country or state.

• Certain information included in this document is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially. The Company's businesses include its Transmission, Power Grid, Electrification and Digital Solutions Operating Segments, and its outlook is predominantly based on its interpretation of what it considers to be the key economic factors affecting these businesses.

• In addition to the standard financial reporting formats and indicators required under IFRS, this document contains a number of reclassified tables and alternative performance indicators. The purpose is to help users better evaluate the Group's economic and financial performance. However, these tables and indicators should not be treated as a substitute for the standard ones required by IFRS.

• Any estimates or forward-looking statements contained in this document are referred to the current date and, therefore, any of the assumptions underlying this document or any of the circumstances or data mentioned in this document may change. Prysmian S.p.A. expressly disclaims and does not assume any liability in connection with any inaccuracies in any of these estimates or forward-looking statements or in connection with any use by any third party of such estimates or

28

‌THANK YOU

The planet's pathways