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Bild nach hinten verschieben: Klicken Sie mit der rechten Maustaste auf das Bild und wählen Sie „Anordnen“ → „In den Hintergrund“ October 16, 2026 Dr. Thomas Schulz, Group CEO Matti Jäkel, Group CFO Analyst & Investor Insights Call
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The Leading Industrial Service Provider – Our Group at a Glance Maintenance & TurnaroundsNew builds & ModificationsEngineeringConsultancy Industries Oil & Gas Pharma & Biopharma Chemicals & Petrochemicals Energy Adjacent Industries revenue >€5.4bn customer retention rate >90% listed in Germany MDAX years of expertise >140 similar business across all industries ~80% employees ~31,000 global safety standards High countries active in ~30 service provider Asset-light revenue in sustainable services >90% No. 1 for Our Customers in Enhancing Efficiency & Sustainability Asset PerformanceAccess & InsulationPrefabrication & InstallationConsulting & Engineering Digitalization ~ 34%1) Western Europe Central Europe ~ 46%1) International ~ 20%1) Accountability Ambition Dedication Knowledge Team Spirit Bilfinger | Analyst & Investor Insights Call | October 16, 2026 1) Percentage of Group Revenue 2025 2
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OPEX CAPEX Bilfinger | Analyst & Investor Insights Call | October 16, 2026 Business Model since 2022 Bilfinger earnings potential Our business model is based on enhancing our customers‘ profitability by improving efficiency and sustainability 3 Single Trade Multi Trade Performance Partner + + low high low high low high Relative margin Energy efficiency gains ~0.2% ~2% Up to 70% Consulting & Engineering Prefabrication & Installation Asset Performance Access & Insulation ~80% Non-discretionary Business based on technical and operational requirements
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Bilfinger | Analyst & Investor Insights Call | October 16, 2026 Our Industries Addressable Markets1) [€ bn] Bilfinger Adjacent Industries > 50 Oil & Gas 32 Pharma & Biopharma 21 Chemicals & Petrochemicals 44 Energy 64 Market CAGR 2025-30 Central Europe 1-2%~ 1%2-3%<1%1-2% 1-2% Total © Audrey – stock.adobe.com Market CAGR 2025-30 Global 2-3%~ 2%4-5%1-2%>3% 2-3% 4 1) Source: S&P Global (forecast as of mid-July 2026), McKinsey, Company data
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Outsourcing Share Chemicals & Petrochemicals Aging Assets increase the need for specialist maintenance. Oil & Gas Specialist service partners help maintain reliable operations amid geopolitical uncertainty. Energy Energy Transition creates demand for external engineering and modernization expertise. Pharma & Biopharma Complex production and compliance requirements create demand for specialized service partners. Outsourcing Share per Industry Bilfinger Global ~60% ~50% ~60% ~30% 5 Bilfinger | Analyst & Investor Insights Call | October 16, 2026 ~50% ~20% ~30% Not Addressable Customer Core Outsourcing Share
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1.0 (23%) 3.3 (77%) 2022 1.1 (24%) 3.4 (76%) 2023 1.0 (21%) 4.0 (79%) 2024 1.0 (18%) 4.4 (82%) 2025 Germany Rest of Group 8% p.a. Development of Group Revenue Shares 20% 25% 25% 22% 22% 10% 10% 10% 13% 10% 20% 15% 20% 18% 19% 20% 20% 20% 24% 28% 30% 30% 25% 23% 21% 2022 2023 2024 2025 H1 2026 Chemicals & Petrochemicals Energy Oil & Gas Pharma & Biopharma Adjacent Industries Share by Industry [% of total Group Revenue] Share by Geography [€ bn, % of total Group Revenue] 6 Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Opportunity Pipeline 100 110 113 112 114 113 121 119 133 Sep 24 Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 Oct 25 Nov 25 Dec 25 Jan 26 Feb 26 Mar 26 Apr 26 May 26 Jun 26 July 26 Aug 26 7 ▪ Outlook in 2025 for 2026 positive ▪ Slow start in 2026 − Weather conditions − Geopolitical uncertainty ▪ Mid of 2026 improved outlook for H2 2026 ▪ September 2026 change on H2 2026 outlook to negative Bilfinger | Analyst & Investor Insights Call | October 16, 2026 ▪ Corrective actions since Q1 2026 ▪ Too low agility, especially in Central Europe New Outlook including Program Agile
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Updated Outlook 2026: Revenue bridge adjusted revenue 8 Revenue Outlook 2026 bridge [€ million] 50 Revenue Outlook 2026 (initial) Revenue Outlook 2026 (as of Q2/26) -100 Western Europe -50 Central Europe -50 International Recon Group Revenue Outlook 2026 (updated) 5,400-5,900 5,400-5,900 5,300-5,700 Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Updated Outlook 2026: EBITA bridge Reduced Revenue Underutilization / Underabsorption Pricing Product Mix SG&A & Others Adj. EBITA (%) Outlook 2026 (updated) Agile EBITA (%) Outlook 2026 (updated) EBITA (%) Outlook 2026 (initial) H1 2026 Developments - Weather conditions - Geopolitical uncertainty EBITA (%) Outlook 2026 (as of Q2/26) 5.8-6.2% ~5.8% 4.6-5.0% 3.2-3.6% -100 bps adjusted revenue 9 EBITA Margin Outlook 2026 bridge [%, bps] Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Updated Outlook 2026: Free Cash Flow Bridge adjusted revenue 10 Free Cash Flow Outlook 2026 bridge [€ m] Bilfinger | Analyst & Investor Insights Call | October 16, 2026 ~80% Cash Conversion Free cash flow Outlook 2026 (initial) ~80% Cash Conversion Free cash flow Outlook 2026 (as of Q2/26) ~80% Cash Conversion Free cash flow Outlook 2026 (updated) 250-300 250-300 180-220
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Group | Outlook FY 2026 [€ million, %] Actual H1 2025 Actual H1 2026 Previous Outlook FY 20262) Updated Outlook FY 20262) Mid-term targets 2030 Revenue 2,620 2,763 5,400 to 5,900 5,300 to 5,700 8 - 10% CAGR EBITA margin 5.0% 5.0% 5.8 to 6.2% 3.2 to 3.6% Adjusted: 4.6 to 5.0% 8 - 9% Free cash flow 1621) 69 250 to 300 180 to 220 ≥ 90% Cash Conversion 11 Bilfinger | Analyst & Investor Insights Call | October 16, 2026 1) Including a mid double-digit million amount cash-inflow due to completion of a legal proceeding 2) Teknokon acquisition included
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Mid-term targets 2030 confirmed 2022 2025 2026E 2030 4.3 5.4 5.5 1.8% 5.5% 4.8%1) 8-9% 8-10% 12 illustrative illustrative Revenue [€ bn, % CAGR] EBITA Margin [%] Bilfinger | Analyst & Investor Insights Call | October 16, 2026 1) Adjusted for €75m one-off costs of Program Agile; reported EBITA margin guidance 3.2 –3.6%. 2022 2025 2026E 2030
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Strategy Acceleration of activities planned – ‚Agile‘ Consolidation of Locations Global Consulting & Engineering Global Shared Services Agile Planning Capacity reduction of up to 1,500 FTEs €75 million one-time costs EBITA improvement gross p.a. €75 million … … … 09/2026 Execution Information and Consultation Q1 2027 Q2 2027 Q3 2027 Q4 2027 Exit selected and build-up new sites 13 Bilfinger | Analyst & Investor Insights Call | October 16, 2026 Focus based on feasibility, viability and leverage
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Program ‚Agile‘ Quarterly Reporting up to Q1 2028 14 Target as of January 1, 2028 Thereof achieved by today Capacity reductions Workforce reduction, measured in full- time equivalents (FTEs). - 1,500 FTEs One-time costs Non-recurring expenses in 2026 to implement the program. - €75 million EBITA improvement gross p.a. Annual gross improvement in earnings with full run rate effect by 2028. + €75 million Global Shared Services Implementation of centralized support services across the Group. Established Consolidation of locations Consolidation of locations to reduce complexity and increase flexibility. >20 locations Global Consulting & Engineering Collaboration across Segments and consolidation of capabilities. Established Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Mid-term targets 2030 confirmed: Our Path to Sustainable Profitable Growth 2026 … Bilfinger CMD 2023 2025 … … Years Years2027 2025 2027 Market Expansion Bilfinger Future … € 5.4 bn 5.5% 110% 2025 2028 2029 20302026 2030 2029 2028 8-10% CAGR 8-9% ≥ 90% Mid-term targets 2030 Revenue/ Growth EBITA Margin Cash Conversion Operational Excellence 15 Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Move image to the Back: Right-click on the image and select “Arrange” → “Send to Back” Analyst & Investor Insights Call Backup
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Segments | Outlook FY 2026 [€ million, %] Actual H1 2025 Actual H1 2026 Previous Outlook FY 2026 Updated Outlook FY 2026 Western Europe Revenue 887 920 1,800 to 2,000 1,700 to 1,900 Adj. EBITA margin 6.8% 7.3% 7.0 to 7.4% 6.8 to 7.0% Central Europe Revenue 1,179 1,264 2,500 to 2,700 2,400 to 2,700 Adj. EBITA margin 4.8% 4.3% 5.8 to 6.4% 4.6 to 5.0% International2) Revenue 533 547 1,050 to 1,200 1,000 to 1,150 Adj. EBITA margin 3.1% 2.2% 4.2 to 5.0% 2.5 to 3.5% Reconciliation Group Revenue 21 31 0 to 50 50 to 100 Adj. EBITA -2 4 -20 to 0 -20 to -10 Western Europe 34%1) Central Europe 46%1) International 20%1) 1) Share of Group Revenue FY 2025 2) Teknokon acquisition included 17 Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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Your Bilfinger IR Team Director Investor Relations Phone: +49 (0) 621 / 459-2455 sascha.bamberger@bilfinger.com Manager Investor Relations Phone: +49 (0) 621 / 459-3880 nicola.behrendt@bilfinger.com Martina Kalkhake Sascha Bamberger Nicola Behrendt Maximilian H. W. Zabel Manager Investor Relations Phone: +49 (0) 621 / 459-2486 maximilian.zabel@bilfinger.com Senior Vice President Investor Relations Phone: +49 (0) 621 / 459-3759 martina.kalkhake@bilfinger.com Financial calendar Senior Manager Investor Relations Phone: +49 (0) 621 / 459-2128 christine.terhalle@bilfinger.com Christine Terhalle March 3, 2027 – Quarterly Statement Q4 2026 and Annual financial statements 2026 November 11, 2026 – Quarterly Statement Q3 2026 April 22, 2027 – Annual General Meeting August 11, 2027 – Quarterly Statement Q2 2027 May 12, 2027 – Quarterly Statement Q1 2027 November 10, 2027 – Quarterly Statement Q3 2027 18 Bilfinger | Analyst & Investor Insights Call | October 16, 2026
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This document contains forward-looking statements, which are predictions, projections or other statements about future events. Such statements are based on plans, expectations, forecasts and assumptions as they are currently available to Bilfinger’s management. Forward-looking statements and information speak only as of the date they are made, and Bilfinger neither intends nor assumes any obligation to update publicly or revise these forward-looking statements in light of future events or developments which differ from those anticipated. By their nature, forward-looking statements are subject to risks and uncertainties, including a negative change in market conditions, events of force majeure or changes in laws, regulations and government policies. A variety of such factors, many of which are beyond Bilfinger’s control, could cause actual results, performance figures or events to differ significantly from those expressed or implied in the forward-looking statements. The information contained in this document may comprise financial and similar information which is neither audited nor reviewed and should be considered preliminary and subject to change. It may also include data provided by third parties. Any such data is taken or derived from information published by sources that Bilfinger believes to be credible. Bilfinger has not independently verified the third-party data and makes no warranties as to its accuracy or completeness. Due to rounding, numbers presented throughout this document may not add up in all cases precisely to the totals provided and percentages may not precisely reflect the absolute figures. This document is being presented solely for informational purposes and does not constitute any form of investment advice or an offer or invitation to subscribe for or purchase any securities. Disclaimer Bilfinger | Analyst & Investor Insights Call | October 16, 202619