Slides
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More cover slides are available on www.partners.alstom.com (in the section “Graphic guidelines and templates / PowerPoint templates”) 23 July 2025 1 1st Quarter Fiscal Year 2025/26
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. ● 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. Disclaimer 2
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. ● Robust start for Rolling Stock and Signalling ● Continuous strength in Europe 3 Orders up 12% during the first quarter Orders for Q1 2025/26 (€bn) ● Group Book-to-bill ratio at 0.9x / at 1.0x for Rolling Stock ● Q1 orders supporting FY commercial momentum 3.5 2.4 0.3 0.8 0.3 0.1 0.8 Q1 2025/26 Q1 2025/26 4.1 4.1 Rolling stock Services Systems Signalling Europe Americas APAC 3.6 4.1 Q1 2024/25 Q1 2025/26 +12%
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. 4 Two large orders supporting Rolling Stock book-to-bill ratio in Q1 FY2025/26 BULGARIA 35 Coradia Stream trainsets with maintenance €0.6bn FRANCE 96 additional RER NG commuter trainsets for the Paris area €1.7bn Large orders received in Q1 FY 2025/26
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. Q1 2024/25 Organic growth FX impact Scope impact Q1 2025/26 Solid growth in Q1 across all product lines 5 SERVICES: €1,070m (stable vs Q1 2024/25, o/w 2% org) Ramping up in Germany, Italy and South Africa Continuous execution in North America ROLLING STOCK: €2,416m (+3% vs Q1 2024/25, o/w 5% org) Significant ramp-up in Germany, as planned Continuous strength in France, the US and Italy SYSTEMS: €425m (+25% vs Q1 2024/25, o/w 36% org) Activity level picking up in Brazil and in the Philippines Consistent execution in Mexico and France SIGNALLING: €603m ((5%) vs Q1 2024/25, o/w 9% org) Consistent growth across all regions, mainly France, Italy and Germany Q1 2025/26 sales (in €m) Q1 2025/26 sales by product line +2.8% * Disposal of North American conventional signalling business €4,389 €4,514 + 7.2% (2.7%) (1.5)% *
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. Q1 FY 2025/26 production: Stable volumes but better mix 6 1,026 982 990 1,1531,122 1,125 1,165 1,110 965 1,038 1,098 1,282 961 Q1 Q2 Q3 Q4 FY 2022/23 FY 2023/24 FY 2024/25 FY 2025/26 Car production • Stable production in Q1 compared to last year • Ramp-up for high-speed trains in France, commuter trains in France and regional trains in Germany • Ramp-down for metro cars in France and Brazil • On track for stable production for FY 2025/26
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. FY 2025/26 outlook and medium-term ambitions confirmed 7 Medium-term ambitions confirmed • Supportive market demand • # cars production stable vs. FY 2024/25 • R&D back to > 3% of sales • Mitigating US tariffs impact Assumptions • Group and Rolling stock book-to-bill ratio above 1.0x • Sales organic growth: 3% to 5% • aEBIT margin around 7% • FCF within €200-400m range • Seasonality more pronounced with FCF up to €(1.0)bn in H1 FY 2025/26 Outlook
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© ALSTOM SA 2025. 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 provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation,is strictly prohibited. Contacts & Agenda 8 13 November 2025 2025/26 Half-year Results CONTACTS AGENDA Cyril Guérin VP Investor Relations and M&A Guillaume Gauvillé Head of Investor Relations investor.relations@alstomgroup.com
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Q&A session 99
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