Page 1

TECNICAS REUNIDAS tr MAIN HIGLIGHTS ▪ YTD backlog of € 10.1 billion ■ YTD order intake of € 2.9 billion ■ ■ H1 2021 Results 30 July 2021 Audited accounts Sales at € 1,422 million Adjusted EBIT at € 44 million , with a 3.1 % margin . EBIT at € -148 million Adjusted net profit at € 9 million . Net profit at € -164 million Net cash position of € 94 million Juan Lladó , Técnicas Reunidas Chairman , commented : " The Covid pandemic has been lengthier than anybody expected last year and much more damaging . The damage inflicted to TR stemmed from different channels that reinforced each other . On the one hand , we have suffered in our operations from all kinds of obstacles that made much harder and costlier to progress in all the projects that were in full execution . We suffered as well from the reprogramming of major projects that represented more than 50 % of our backlog , thus temporary idling the resources that were ready to tackle them . Last but not least , the direct impact of Covid on our clients also affected us : payment terms lengthened ; discussions and agreements over project execution and management were made more difficult , probably because of lack of face to face interaction ; and , although there was a great deal of commercial activity , investment decisions kept being postponed . There are reasons now to be much more optimistic . As vaccinations progress in all countries , clients are accelerating their final investment decisions and starting to award projects . We keep a € 50B pipeline of potential projects , and , year to date , we have already reached € 2.9B in awards . On top of that , we have more than € 6.0B in bids for which we are well positioned and which will be awarded in the coming months . This trend change reflects the start of a major investment wave that should extend well into the medium term , led by the major role taken by energy transition projects . We cannot miss this opportunity ; and we are going to take all the necessary measures not to miss it . With the help of the support funds backed by European Union and managed by the Spanish government , we will strengthen our financial profile to face this promising future . Our engineering and technological franchise is highly appreciated and demanded by our clients . We are a strategic company for Spain and our government has always been an important partner in our development . With this support we will keep enhancing our contribution to Spanish employment and technological advance , in particular in the key area of energy transition . "