Slides
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H1 2026 Results July 30th, 2026 Juan Lladó – Executive Chairman Eduardo San Miguel – CEO
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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4 H1 2026 Results Middle East: moving towards normalized project execution Unchanged and on-time client payments Robust order intake performance (6 B€ YTD) and high visibility on forecasted awards for 2026 (+8 B€) H1 2026 Highlights EBIT Provision Net cash 1Q 26 2Q 26 45 0 Sales in M€ 1,582 1,478 31 73 344 360 1H 261H 25 2,744 0 120 247 (ex-SEPI) 3,061 45 104 344
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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6 H1 2026 Results Oilfield project Awards Largest award in TR’s history • Largest award in TR’s history • TR as sole contractor • World’s second largest offshore oil field • Shareholders: ADNOC and Exxon • Letter of Award signed and project kick-off meeting celebrated July 1st • 2 packages totaling +5 B€ +5 B€
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7 H1 2026 Results Greenlight Awards First step in TR’s Hyperscaler Data Center strategy • TR’s first project within its strategy to penetrate Data Center market for Hyperscalers • Electricity generated will be used to energize META Data Centers in Canada • Shareholders: Pembina, Morgan Stanley Infrastructure Partners and Kineticor • 932 MW CCGT plant, Carbon Capture Ready, expandable to 1,864 MW 570 M€
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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9 H1 2026 Results *Not included in the backlog TR Power Strong visibility Executing early works 2.2 B€ 1.1 B€* ~1.5 B€* Backlog as of June Power Project in UAE CCGTs for RWE TR Power spin-off completed Aim to double Power workforce by year end Final Notice To Proceed expected by October Expected for late 2026
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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11 H1 2026 Results North America >200 M€ by year-end 52 M€ 2026 YTD 70 M€ FY 2025 Feasibilities, Pre-FEEDs and FEEDs Feasibilities, Pre-FEEDs and FEEDs EPmCm Current services contracts under execution could translate into 8 B€ EPCm projects in 2027-28 Strong relationships with US clients increase future opportunities across America
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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13 H1 2026 Results Focus on profitability and efficiency Services Services and Digitalization, AI & Robotics ~375 M€ awards in 2026 500 M€ revenues 2028 target confirmed Digitalization, AI & Robotics ~30% gross margin range maintained 40M€ investment for 2026 +400 FTE digital team by year-end
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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15 H1 2026 Results EBIT margin 4.3% 4.5% 4.5% 4.6% 4.8%* 5.0% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Financial Results Sustained profitability growth *Refers to Underlying EBIT
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16 H1 2026 Results Net cash position* (M€) 219 332 344 175 2024 2025 H1 2026 Net cash SEPI PPL 400 564 622 175 2024 2025 H1 2026 Equity SEPI PPL Equity* (M€) *SEPI PPL included Financial Results Balance Sheet
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AGENDA 1 | 3 | H1 2026 Highlights Awards TR Power North America Services and Digitalization, AI & Robotics Financial Results Final Remarks 2 | 4 | 5 | 6 | 7 |
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18 H1 2026 Results Underlying EBIT >325 M€ Revenues >6.5 B€ Underlying EBIT margin >5% 2026 Guidance EBIT ~280 M€ EBIT margin ~4.3% • 6 B€ YTD order intake • +8 B€ forecasted awards for 2026; ~375 M€ in services • Middle East: moving towards normalized project execution • Focus on profitability and efficiency: Services and Digitalization, AI & Robotics Final Remarks Already managing an extraordinary investment cycle: Middle East, Power business and North America