Slides
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Half-year results 26th August 2026 2026
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Highlights Chairman and CEO Benoît de Ruffray
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3 Growth in activity of 2.3% ▪ ▪ ▪ ▪ Increase in results • • Increase in Contracting order book of 7% year-on-year (+6% since the beginning of the year) • External growth in Contracting ▪ ▪ Evolution to the Concessions portfolio ▪ ▪ ▪ Strong financial position and decreasing net debt ▪ ▪ ▪ Highlights - Group
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Highlights - Contracting C o n s t r u c t i o n o f 4 5 0 m o d u l a r b u i l d i n g s f o r R T E G É N I E C I V I L C O N S T R U C T I O N O v e r h e a d c r o s s i n g s t r u c t u r e s o n t h e A m i e n s - L a o n l i n e - S N E C a n a l E l e c t r i c a l s u b s t a t i o n - F o u j u I A C a m p u s U r b a n r e g e n e r a t i o n o f a f o r m e r t r a m d e p o t s i t e - P o z n a ń - P o l a n d A c q u i s i t i o n o f C l a u s H e i n e m a n n E l e k t r o a n l a g e n - G e r m a n y F o u r s o l a r p o w e r p l a n t s - M o r o c c o 4 P a r t n e r s h i p a g r e e m e n t h e a t e x c h a n g e r c o m p o n e n t s f o r n u c l e a r p o w e r p l a n t s C o n v e r t e r s t a t i o n - G e r m a n y
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55 Highlights Increased activity and profitability Significant order intake ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Growing activity in all divisions ▪ Eiffage Énergie Systèmes ▪ ▪ Eiffage Construction ▪ • • Contracting Order book growth
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Energy Systems Infrastructure Construction France Outside France 20232017 2020 2021 202220192018 2024 Focus on external growth Salvia Eqos Van den Pol 2025 HSM CVS M3i / Inmotechnia Stampka / IFT / Esacom Socotis 2026 HTW Hand & Werk Claus Heinemann Quercy Réfrigération France Outside France France Outside France Baatz Rev < €50M Rev 50M to €100M Rev 100M to €200M Rev 200M to €500MAnnual revenue from acquisitions over 12 months Rev > €500M 6
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Evolution of the relative weight of the Contracting divisions Total revenue (€M) and breakdown by division (%)* Infrastructure 31% 33% 36% 38% 38% 42% 41% 42% 42% 41% 27% 26% 22% 20% 21% 7,859 8,675 9,238 10,016 10,296 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 7 Construction Energy Systems *Pro forma of Goyer's reclassification from Infrastructure to Construction
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France Europe excluding France International excluding Europe Total revenue (€M) and breakdown by geographical area (%) Continued european development of the Group in Contracting 8 67% 65% 61% 57% 57% 29% 32% 36% 39% 41% 4% 3% 3% 4% 2% 7,859 8,675 9,238 10,016 10,296 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026
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Highlights - Concessions P a r i s i a n h e a t n e t w o r k G É N I E C I V I L C O N S T R U C T I O N N o v é - I n a u g u r a t i o n o f t h e F e s c h B a r r a c k s i n V e r s a i l l e s O p e n i n g o f t h e A 3 m o t o r w a y - G e r m a n y I n c r e a s e t o 2 9 . 4 0 % o f t h e c a p i t a l o f G e t l i n k I n a u g u r a t i o n o f t h e A 4 8 0 / R o n d e a u p r o j e c t - G r e n o b l e A P R R i s e x p a n d i n g e l e c t r i c v e h i c l e c h a r g i n g i n f r a s t r u c t u r e o n i t s n e t w o r k Fulli - A n i n t e g r a t e d m o b i l i t y s o l u t i o n E c o n o m i c R e g u l a t i o n A g r e e m e n t T o u l o u s e A i r p o r t 9
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10 Highlights Activity and profitabily slightly down Portfolio evolutions ▪ ▪ ▪ ▪ ▪ ▪ 10 Activity down 0.4% (+0.5% lfl*) Results slightly down ▪ ▪ ▪ ▪ ▪ * Nové has been accounted for using the equity method since 31 December 2025 (€18 million in turnover in the first half of 2025) Concessions
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Concessions portfolio strengthening Concessions won Extension Increase in the share capital Acquisitions 2018 Getlink 5.08% Reims Arena 2019 2020 2021 2022 Lille Airport SMTPC Toulouse Airport 49.99% Aliaé (A79) Baie des Anges marina Adelac (A41) 2% APRR 2% Hydro power plants Autoroute de l’Avenir motorway in Senegal Sun’R 75% Aliénor (A65) 35% Nové Getlink 13.71% 2023 Millau Viaduct 49% Getlink 1.76% Lille Airport Marinas in the bay of Toulon 2024 Machilly- Thonon (A412) Hydro power plants APRR Adelac (A41) Aliaé (A79) 0.5% 2025 Port of Marseille Fos Headquarters 11 Getlink 7.11% Vresse prison 2026 Parisian heat network Fulli service area on the A20 motorway Getlink 1.74%
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Training and raising employee awareness to drive the transition Climate adaptation issues central to the 7th climate report Improvement of the ratings from non-financial rating agencies - 2,000 4,000 6,000 8,000 10,000 12,000 2024 2025 S1 2026 Number of people trained and raised awareness Implementation of the climate and carbon strategy H1 2026 12 GOLD 84/100 AAA PRIME C+ 27,25 Medium risk A- Climate B- Water and Wood
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13 Eiffage - 1st semester 2026 Revenue €M +2.3% Operating profit €M +2.0% 925 1,009 997 999 1,019 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Net profit group share €M 354 392 382 305 342 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Free cash flow €M -1 276 148 -91 -75 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 *Exc IFRS 16 debt and the swaps Financial net debt €M* -€530M 9,988 10,649 10,617 9,908 9,378 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Order book €bn +7% 18.0 19.8 28.4 29.5 31.5 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 9,452 10,431 11,093 11,928 12,200 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 +12.1% H1 2025 data reflects the effects of a revision to the Ifric 12 provision, which took place on 31 December 2025 and is detailed in the notes to the financial statements
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Outlook for 2026 Confirmation of the global outlook for 2026 of revenue and earnings growth Contracting Revenue in slight increase (“of the same order as in 2025” previously) in the Infrastructure and Construction divisions, with further growth for Eiffage Énergie Systèmes, although less so than in 2025. Higher operating margin thanks to further improvement in profitability at Eiffage Énergie Systèmes and consolidation in margins level generated by other Contracting divisions as part of an ongoing selective new business policy. Concessions Revenue and operating profit are now expected to be slightly lower than in 2025 (“slight increase” previously) due to the ongoing decline in motorway traffic as a result of high fuel prices. 14
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15 Chief Financial Officer Christian Cassayre Results by business lines and financial results
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16 Group revenue (excluding Ifric 12) Breakdown Contracting and Concessions (€M) Breakdown by geographical area (€M) At constant scope and exchange rates France Europe excluding France International excluding EuropeConcessionsContracting +2.8% -0.4% +2.3% +1.2% +0.5% +1.1% ∆26/25 ∆26/25 +1.5% +8.0% +2.3% ∆26/25 -37.1% +3.7% 6,791 7,333 7,430 7,639 7,754 2,295 2,808 3,305 3,879 4,188 366 290 358 410 258 9,452 10,431 11,093 11,928 12,200 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 7,859 8,675 9,238 10,016 10,296 1,593 1,756 1,855 1,912 1,904 9,452 10,431 11,093 11,928 12,200 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026
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17 Contracting revenue (excluding Ifric 12) Breakdown by division (€M)* Breakdown by geographical area (€M) and % of total France Europe excluding France International excluding EuropeConstructionInfrastructureEnergy Systems At constant scope and exchange rates 5,230 5,610 5,608 5,761 5,886 2,295 2,808 3,305 3,879 4,188 334 257 325 376 222 7,859 8,675 9,238 10,016 10,296 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 +2.2% +8.0% +2.8% ∆2 6 / 2 5 -41.0% +4.5% (41%) (57%)(65%) (39%) (67%) (4%) (5 %) (4%) +2.0% +5.0% +1.2% ∆26/25 -1.3% ∆26/25 2,454 2,833 3,333 3,772 3,954 3,268 3,567 3,905 4,231 4,229 2,137 2,275 2,000 2,013 2,113 7,859 8,675 9,238 10,016 10,296 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 0.0% +5.0% +2.8% +4.8% (2%) (36%) (32%) (29%) (3%) (61%) (57%) (3%) *Pro forma of Goyer's reclassification from Infrastructure to Construction
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18 Operating profit on ordinary activities and margins Pro forma H1 2025* H1 2026 M€ % CA M€ % CA Δ 26/25 (€M) Construction 70* 3.5% 74 3.5% +4 Infrastructure -13* -0.3% -11 -0.3% +2 Energy Systems 184 4.9% 206 5.2% +22 Contracting 241 2.4% 269 2.6% +28 Concessions 838 43.8% 822 43.2% -16 Holding -80 -72 +8 Group total 999 8.4% 1,019 8.4% +20 *Pro forma for the reclassification of Goyer from Infrastructure to Construction (ROC: +€11 million in 2025, including +€4 million in H1 2025) H1 2025 data reflects the effects of a revision to the Ifric 12 provision, which took place on 31 December 2025 and is detailed in the appendices
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19 Construction - Activity and results* Stability of the operating margin at 3.5% of revenue Revenue increased by 5.0% (actual and Ifl) FRANCE EUROPE exc FRANCE Revenue (€bn) and operating margin on ordinary activities (%) 2.1 2.3 2.0 2.0 2.1 3.5% 3.4% 3.5% 3.5% 3.5% H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Year N Year N+1 Beyond N+1 Results ▪ Works ▪ ▪ Property development ▪ ▪ ▪ 1.9 1.8 1.7 1.8 1.8 2.5 2.2 2.1 2.3 2.6 1.0 1.1 1.9 1.5 1.6 5.4 5.1 5.7 5.6 5.9 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/06/2026 Order book (€bn) Evolution and breakdown * Pro forma for the reclassification of Goyer from Infrastructure to Construction
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Trèfles | 156 sustainable social housing units in Anderlecht - Belgium C O N S T R U C T I O N 20
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21 FRANCE EUROPE exc FRANCE Infrastructure - Activity and results* Stability of the operating margin at -0.3% of revenue Revenue stable (-1.3% lfl) Revenue (€bn) and operating margin on ordinary activities (%) Year N Year N+1 Beyond N+1 ▪ ▪ ▪ Order book (€bn) Evolution and breakdown Order book ▪ Results ▪ 3.3 3.6 3.9 4.2 4.2 -1.1% -0.6% -0.4% -0.3% -0.3% H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 * Pro forma for the reclassification of Goyer from Infrastructure to Construction 2.9 3.3 3.4 4.0 3.9 2.9 3.6 3.8 4.2 4.31.7 1.9 7.5 7.1 7.9 7.4 8.9 14.7 15.2 16.1 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/06/2026
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Spillway of the Rustrel reservoir C O N S T R U C T I O N G É N I E C I V I L 22
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23 Energy Systems - Activity and results Operating margin increased by 30 bps at 5.2% of revenue 2.0 2.4 2.9 3.2 3.6 2.1 2.3 3.0 3.4 3.31.1 1.2 2.0 2.0 2.5 5.2 5.9 8.0 8.7 9.5 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/06/2026 2.5 2.8 3.3 3.8 4.0 4.0% 4.3% 4.6% 4.9% 5.2% H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Year N Year N+1 Beyond N+1 Revenue (€bn) and operating margin on ordinary activities (%) Order book (€bn) Evolution and breakdown FRANCE EUROPE exc FRANCE Revenue increased by 4.8% (+2.0% lfl) Order book ▪ ▪ Results ▪ External growth ▪
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Emergency intervention contract for summer heatwaves for Enedis - Paris 24 C O N S T R U C T I O N É N E R G I E S Y S T È M E S
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25 Concessions and PPP - Activity Revenue* APRR and AREA (€M) 90 113 159 166 169 71 88 95 96 9984 122 127 124 102 245 323 381 386 370 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Motorway concessions Airport concessions PPP and equivalent Revenue Concessions and PPP (€M) Excl. APRR and AREA 1,348 1,433 1,474 1,526 1,534 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Revenue decreased by 0.4% (+0.5% Ifl***) Name (end of concession | % holding) Revenue (€M) Revenue ∆26/25 Traffic ∆26/25 ROC (€M) APRR and AREA* (2035/2036 | 52.5%) 1,534 +0.5% -2.5% 697** Aliaé (A79) (2068 | 52.5%) 28 +4.8% +1.9% Adelac (A41) (2060 | 52.5%) 39 +1.1% -1.2% Aliénor (A65) (2067 | 100%) 40 +1.2% -4.6% Millau Viaduct (2079 | 100%) 27 -4.2% -6.8% Autoroute de l’Avenir motorway (2044 | 75%) 35 +4.6% +6.6% Motorway concessions 169 +1.5% 99 Toulouse Airport (2046 | 49.99%) 82 +2.9% +0.9% Lille Airport (2042 | 90%) 17 +3.4% -1.1% Airport concessions 99 +3.0% -5** BPL HSRL (2036 | 100%) 37 -10.4% Decathlon Arena Stade Pierre Mauroy and ancillaries (2043/2076 | 100%) 15 -11.4% Other 50 -23.1% PPP and equivalent*** 102 -17.2% 31 Sub total excl. APRR and AREA 370 -4.1% 125 Total Concessions 1,904 -0.4% 822 *This figure is reduced by €2 million at Group level due to the recognition of additional eliminations related to intercompany services **After goodwill amortisation of €87 million for APRR and €16 million for Toulouse Airport *** Nové has been accounted for using the equity method since 31 December 2025 (€18M in turnover in H1 2025)
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2626 APRR - AREA - Aliaé (A79) - Activity* and results Revenue* (€M) and EBITDA margin* 1,348 1,454 1,501 1,555 1,564 76.5% 76.8% 72.3% 72.1% 71.7% H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Traffic Toll receipts Revenue mix HGV 17% HGV 36% LV 83% LV 64% Other 5% Tolls 95% EBITDA margin to 71.7% of revenue (72.2% exc Fulli new areas) Consolidated revenue* (excl. Ifric 12) increased by 0.6% Total APRR and AREA traffic decreased by 2.5%, impacted by the increase in fuel price ▪ EBITDA margin evolution ▪ ▪ Aliaé (A79) ▪ ▪ Continued investment ▪ ▪ Financing ▪ Fulli ▪
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2727 Dullin tunnel - A43 motorway 27 C O N S T R U C T I O N É N E R G I E S Y S T È M E S
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Concessions and PPP excluding APRR & AREA - Activity and results 2828 Name (end of concession | % holding) Revenue (€M) EBITDA (€M) EBITDA Margin (%) Aliaé (A79) (2068 | 52.5%) 28 17 62.0% Adelac (A41) (2060 | 52.5%) 39 35 90.5% Aliénor A65 (2067 | 100%) 40 32 82.0% Millau Viaduct (2079 | 100%) 27 24 87.7% Autoroute de l’Avenir motorway (2044 | 75%) 35 22 61.8% Motorway concessions 169 130 77.3% Toulouse Airport (2046 | 49.99%) 82 23 28.0% Lille Airport (2042 | 90%) 17 3 16.6% Airport concessions 99 26 26.1% Motorway and airport concessions 268 156 58.4% PPP and equivalent 102 38 Total Concessions and PPP 370 194 52.5% Assets under construction Name (end of concession | % holding) Amount of investments remaining to be made in billions of euros Assets under concession (consolidated) Amedea (A412) (2079 | 99.9%) ~0.5 PPPs and equivalent in France and Belgium ~0.4 Assets under concession (equity accounted) Nové (2056 | 50%) ~0.8 Assets in service
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Dynamic agrivoltaics - Tressere 29
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3030 Getlink - Activity and results Net profit for 100% (€M) 50 161 173 113 118 Revenue for 100% (€M) New reinforcement in Getlink's capital Contributions to Eiffage accounts ▪ ▪ *Share of profit after goodwill amortisation and inclusion of a remaining 2025 result of €9 million each 468 537 540 564 574 68 73 83 83 93 35 330 185 92 157 571 940 808 739 824 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Eurotunnel Europorte ElecLink 5.08% 13.71% 1.76% 7.11% 1.74% 29.40% 17/12/2018 22/10/2022 25/10/2023 23/10/2025 27/03/2026 30/06/2026
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31 Consolidated income statement Pro forma H1 2025 H1 2026 Δ 26/25 Revenue(1) 11,928 12,200 +2.3% Operating profit on ordinary activities 999 1,019 +2.0% Other income (expenses) from operations (24) (19) Operating profit 975 1,000 Of which IFRS 2 charge (97) (79) Net finance costs (159) (161) Other financial income (expenses) (9) 24 Financial income (expenses) (168) (137) Share of profit (loss) of equity-method investments 34 35 Of which Getlink 31 34 Income tax (351) (347) Profit for the period 490 551 Non-controlling interests 185 209 Net profit group share 305 342 +12.1% in millions of euros H1 2025 data reflects the effects of a revision to the Ifric 12 provision, which took place on 31 December 2025 and is detailed in the appendices
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32 Financial net debt* evolution DFN 31/12/2025* DFN 30/06/2026* *Excl. IFRS 16 debt and swaps Mtm 1,3881,238 32 (420) Operation 495 Net capex 75 Free cash flow EBITDA Δ WCR inc. Holding & Contracting 1,041 Concessions -11 Interest & Taxes paid and misc Holding & Contracting Concessions Concessions Debt repayment and disposals Acquisitions and disposals Variations without flows of funds Dividends & Capital transactions Inc. 468 paid to Eiffage S.A. shareholders in millions of euros Dividends of companies consolidated using the equity method H1 2025 (1,835) 892 564 385 195 (38) 23 (44) 424 (451) 542 91 Free cash flow (72) 8,548 (1,871) (138) 1,030 559 350 189 (44) 204 (47) 598 9,378
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33 Treasury / Financial net debt structure* *Excl. IFRS 16 debt and swaps mtm Total Net treasury* Holding & Contracting Financial net debt* Concessions 31/12/23 31/12/24 31/12/25 30/06/24 30/06/26 1,123 1,260 1,238 1,153 1,388 (8,548) (10,617) (9,378)(9,908) 30/06/25 1,283 in millions of euros (9,916) (9,414) 966 1 347 1,528 38 578 514 (10,882) (10,761) (10,076) (10,655) (10,486) (9,892)
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3434 Breakdown by division (€bn)* and variation over 12 months Contracting order book 13,1 mois +6% +6% +9% +7% ∆26/25 Year N Year N+1 Beyond N+1 +3% +3% +14% ∆26/25 ConstructionInfrastructureEnergy Systems Contracting order book (€bn) and variation over 12 months +7% 6.7 7.5 8.1 9.0 9.3 7.5 8.1 9.0 9.9 10.2 3.8 4.3 11.4 10.6 12.0 18.0 19.8 28.4 29.5 31.5 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/06/2026 5.2 5.9 8.0 8.7 9.5 7.4 8.9 14.7 15.2 16.1 5.4 5.1 5.7 5.6 5.9 18.0 19.8 28.4 29.5 31.5 30/06/2022 30/06/2023 30/06/2024 30/06/2025 30/06/2026 *Pro forma of Goyer's reclassification from Infrastructure to Construction (€227M 30th june 2025)
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35 Appendices
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36 Group shareholding structure Shareholding at 31/12/2025 98M shares Employees shareholders Treasury shares Floating Shareholding at 30/06/2026 98M shares 3.0%22.3% 74.7% 0.8% 23.8% 75.4% Shareholding at 30/06/2025 98M shares 1.8%23.3% 74.9%
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37 Revenue (excl. Ifric 12) Revenue breakdown (€M) Revenue breakdown in Europe excluding France (€M) 7,639 410 3,879 7,754 258 4,188 France International exc. Europe Europe exc. France H1 2025 H1 2026 1,251 715 523 449 246 216 66 13 62 136 43 86 73 1,267 844 580 527 295 204 84 83 65 61 60 49 69 H1 2025 H1 2026
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38 38 Revenue performance of the main European subsidiaries (excluding Ifric 12) Germany (€M) 38 600 757 1,002 1,251 1,267 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Spain (€M) Belgium (€M) Netherlands (€M) 471 606 675 715 844 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 145 165 214 246 295 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 427 463 497 523 580 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026
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39 39 Concessions financial net debt breakdown Non-recourse debt raised in dedicated SPVs for €9.9 billion* Non-recourse FND structure (M€) 1,005 1,886 7,001 *Excl. IFRS 16 debt, fair value of Concessions swaps: €81M Motorways and airport PPP and misc APRR and Financière Eiffarie BPL HSRL 658 Grande Arche 105 Others 89 Decathlon Arena Pierre Mauroy Stadium 153 Toulouse Airport 70 Aliénor (A65) 638 Millau Viaduct 506 Non-recourse FND breakdown (€M) Financière Eiffarie 776 APRR 6,225 Autoroute de l’Avenir motorway (Senegal) 89 Adelac (A41) 583
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Liquidity APRR liquidity 1.4 billion of euros in cash and cash equivalents 1.5 billion of euros undrawn bank credit line without financial convenant 2.9 billion of euros in liquidity =+ Group liquidity 2.4 billion of euros in cash and cash equivalents 2.0 billion of euros undrawn bank credit line without financial convenant =+ 4.4 billion of euros in liquidity 40
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41 Consolidated balance sheet - Assets in millions of euros 31/12/2025 30/06/2026 Property, plant and equipment 2,410 2,426 Usage rights of rented assets 1,368 1,513 Investment property 64 62 Fixed assets held under concessions 10,850 10,572 Goodwill on acquisition 4,799 4,836 Other intangible assets 319 294 Investment accounted for using the equity method 2,838 2,934 Financial assets on service concessions arrangement non-current 1,083 1,048 Other financial assets non-current 420 474 Deferred tax assets 259 285 Other assets 1 1 Total non-current assets 24,411 24,445 Inventories 944 977 Trade receivables 7,025 7,895 Current tax receivables 35 46 Financial assets on service concessions arrangement current 78 80 Other current assets 2,555 3,141 Cash and cash equivalent 5,870 4,517 Assets held for sale 16 - Total current assets 16,523 16,656 Total assets 40,934 41,101
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42 Consolidated balance sheet - Equity and liabilities in millions of euros 31/12/2025 30/06/2026 Share capital 392 392 Consolidated reserves 6,037 6,785 Profit & losses directly accounted for in equity 50 103 Net profit for the period 1,022 342 Total capital and reserves, attributable to the Group 7,501 7,622 Attributable to non-controlling interests 1,389 1,314 Total capital and reserves 8,890 8,936 Long-term debt 11,573 10,976 Rented assets debt 992 1,141 Deferred tax liabilities 744 738 Non-current provisions 881 909 Other non-current liabilities 538 538 Total non-current liabilities 14,728 14,302 Trade creditors 5,613 5,995 Short-term loans and other borrowings 1,846 1,601 Non-current borrowings due within one year 1,005 1,323 Lease liabilities due within one year 359 355 Current tax liabilities 262 309 Current provisions 1,125 1,117 Other creditors and accruals 7,106 7,163 Liabilities held for sale - - Total current liabilities 17,316 17,863 Total liabilities and shareholder’s equity 40,934 41,101
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43 Consolidated income statement in millions of euros Pro forma H1 2025 H1 2026 Revenue(1) 12,297 12,438 Other income 9 9 Raw materials and consumables used (2,016) (1,996) Staff costs (2,881) (3,024) Other expenses (5,380) (5,302) Taxes other than corporate tax (291) (295) Amortisation and depreciation expense (756) (806) Provisions (80) (46) Changes in inventories 32 (12) Other operating income and expenses 65 53 Operating profit on ordinary activities 999 1,019 Other operating income and expenses (24) (19) Operating profit 975 1,000 Income from cash and cash equivalent 54 51 Cost of gross debt (213) (212) Net finance costs (159) (161) Other financial income (expenses) (9) 24 Share of profit (loss) of associates 34 35 Corporation tax (351) (347) Net profit 490 551 Group share 305 342 Non-controlling interests 185 209 (1) Included Ifric 12 for €98M for H1 2025 and €90M for H1 2026 H1 2025 data reflects the effects of a revision to the Ifric 12 provision, which took place on 31 December 2025 and is detailed in the notes to the financial statements
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Details of the impacts of the revision to the Ifric 12 provision 44 Income statement 30 june 2025 in millions of euros Published Impact Restated Revenue 12,301 (4) 12,297 Other expenses (5,384) 4 (5,380) Provisions (net) (73) (7) (80) Operating profit on ordinary activities 1,006 (7) 999 Operating profit 982 (7) 975 Other financial income (expenses) (8) (1) (9) Corporation tax (353) 2 (351) Net profit 496 (6) 490 Attributable to the Group 308 (3) 305 Non-controlling interests 188 (3) 185
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45 Consolidated cash flow statement in millions of euros Pro forma H1 2025 H1 2026 Cash and equivalents at 1 January 5,959 5,784 Currency effect (1) 2 Restated cash and cash equivalents at 1 January 5,958 5,786 Net profit 490 551 Profit (loss) of equity-method investments (34) (35) Dividends from equity-method investments 72 138 Depreciation and amortisation 756 805 Net increase in provisions 64 7 Other non-cash items 105 86 Gain (loss) on disposals (15) (43) Cash flow from operations before interest and taxes 1,438 1,509 Net interest expense 145 145 Interest paid (223) (209) Income tax expense 352 347 Income tax paid (369) (342) Change in working capital requirement (892) (1,030) Net cash from operating activites 451 420 in millions of euros Pro forma H1 2025 H1 2026 Purchases of fixed assets (298) (233) Purchase of intangible concession assets (138) (116) Purchase of non-current financial assets (7) (24) Disposals and reductions of fixed assets 82 82 Net operating investments (361) (291) Purchases of controlling interests (202) (257) Disposals of controlling interests and assets held for sale 6 38 Cash and cash equivalents of entities bought or sold 182 15 Net financial investments (14) (204) Net cash used in investing activities (375) (495) Dividends paid to shareholders* (678) (760) Capital increase 280 293 Purchase / disposals of non controling interests (9) 0 Repurchase and resale of treasury shares (26) (131) Repayment of leases debt (181) (204) Repayment of borrowings (1,924) (1,149) New borrowings 1,567 524 Net cash (used in) financing activities (971) (1,427) Net increase in cash and cash equivalents (895) (1,502) Cash and cash equivalents at closing 5,063 4,284 *Incl. dividends paid by Eiffage SA of €468M (€452M in H1 2025)
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46 46 Net financial expenses in millions of euros H1 2025 H1 2026 APRR - AREA - A79 (56) (62) Financière Eiffarie (14) (12) Adelac (A41) (10) (9) Aliénor (A65) (13) (13) Millau Viaduct (13) (13) Autoroute de l’Avenir motorway (5) (5) Toulouse airport (1) (1) BPL HSRL (17) (16) Other PPPs and concessions (7) (11) Concessions (136) (142) Holding & Contracting (23) (19) Financial result (159) (161)
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47 Grand Paris Express contracts won by Eiffage
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48 APRR & Financière Eiffarie - Financial net debt structure* 48 14 14 14 15 14 15 6,674 6,681 6,353 6,658 6,584 6,225 1,012 894 762 961 762 776 7,686 7,575 7,115 7,619 7,346 7,001 31/12/2023 31/12/2024 31/12/2025 30/06/2024 30/06/2025 30/06/2026 Eiffarie / Financière Eiffarie APRR in millions of euros *Excluding IFRS 16 debt and the swaps
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49 APRR - Gross debt profile 49 EMTN Programme Profile as at 30/06/2026 in millions of euros 500 500 500 700 500 500 500 500 500 500 500500 700 500 122 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036
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50 APRR - Changes to traffic Km travelled,12 months rolling average, rebased to Q4 2007 126.8 125.0 116.0 100 LV Total HGV 80 85 90 95 100 105 110 115 120 125 130 Q4 2007 Q2 2008 Q4 2008 Q2 2009 Q4 2009 Q2 2010 Q4 2010 Q2 2011 Q4 2011 Q2 2012 Q4 2012 Q2 2013 Q4 2013 Q2 2014 Q4 2014 Q2 2015 Q4 2015 Q2 2016 Q4 2016 Q2 2017 Q4 2017 Q2 2018 Q4 2018 Q2 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 Q4 2022 Q2 2023 Q4 2023 Q2 2024 Q4 2024 Q2 2025 Q4 2025 Q2 2026
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5151 Motorway Concessions in France 2026 tariff increase *I = Inflation Tariff formula for APRR and AREA 2026 Beyond 2026 APRR: 70% xI + 0.315% = 0.94% AREA: 70% xI + 0.33% = 0.95% APRR and AREA: 70% xI Name (end of contract | % holding) Average tariff increase for 2025 APRR and AREA (2035/2036 | 52.5%) APRR: +1.08% AREA: +1.10% Aliaé (A79) (2068 | 52.5%) +1.58% Aliénor (A65) (2067 | 100%) +2.10% Millau Viaduct (2079 | 100%) +2.73% Adelac (A41) (2060 | 100%) +2.75%
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Assets under concession (consolidated) 52 Project Type Country End of concession Status % Shares APRR & AREA Concession FR 2035/2036 Operational 52.50% Aliaé (A79) Concession FR 2068 Operational 52.50% Adelac (A41) Concession FR 2060 Operational 52.50% Aliénor (A65) Concession FR 2067 Operational 100.00% Amedea (A412) Concession FR 2079 Under construction 100.00% Millau Viaduct Concession FR 2079 Operational 100.00% Autoroute de l’Avenir motorway Concession SEN 2044 Operational 75.00% Toulouse Airport Concession FR 2046 Operational 49.99% Lille Airport Concession FR 2042 Operational 90.00% Bretagne-Pays de la Loire HSRL PPP FR 2036 Operational 100.00% Vresse-sur-Semois penitentiary PPP BEL 2048 Under construction 100.00% New headquarters of the Port of Marseille Fos PPP FR 2054 Under construction 100.00% Decathlon Arena Stade Pierre Mauroy and ancillaries PPP FR 2043/2076 Operational 100.00% Sun’R Renewable energy FR / Operational & under construction 99.80% Hydroelectric power stations Renewable energy FR / Operational & under construction 100.00% Reims Arena Concession FR 2036 Operational 100.00% Baie des Anges marina Concession FR 2052 Operational & under construction 96.00% Toulon Marina Concession FR 2054 Operational & under construction 98.00% Grande Arche PPP FR 2034 Operational 100.00% Îlot Perrée - Police station PPP FR 2030 Operational 100.00%
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Assets under concession (equity accounted and participations) 53 Project Type Country End of concession Status % Shares Getlink Concession FR / UK 2086 Operational 29.40% Amiens Aqua center Concession FR 2042 Operational 15.00% Bordeaux-Mérignac Nautical Stadium Concession FR 2041 Operational 3.00% Prado South Tunnel Concession FR 2054 Operational 41.50% Prado Carénage Tunnel Concession FR 2032 Operational 34.15% Nové Concession FR 2056 Operational & under construction 50.00% Brittany university PPP FR 2038 Operational 10.00% Jean-Zay Lorraine high school PPP FR 2034 Operational 15.00% Seine-St-Denis middle schools lot 1 PPP FR 2034 Operational 15.00% Seine-St-Denis middle schools lot 3 PPP FR 2034 Operational 15.00% Région Centre high school PPP FR 2025 Operational 19.00% HD CG 54 network PPP FR 2032 Operational 19.00% Prisons Lot 1 PPP FR 2037 Operational 19.90% GreEn-ER Grenoble university PPP FR 2041 Operational 19.90% Lille university PPP FR 2041 Operational 15.00% Aix-Marseille university PPP FR 2042 Operational 15.00% Metz university PPP FR 2042 Operational 15.00% Nancy university PPP FR 2043 Operational 19.90% Marche-en-Famenne prison PPP BEL 2038 Operational 18.37% A94 PPP GER 2046 Operational 33.33% A3 PPP GER 2050 Under construction 74.50% Huatacondo PV Renewable energy CHIL 2047 Operational 6.30% Ten Merina Renewable energy SEN 2042 Operational 15.00% Maurepas Aqua center Concession FR 2044 Operational 5.00% Var middle schools PPP FR 2043 Operational 19.90%
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5454 Assets under concession (globally consolidated and equity accounted) Carrying value of assets held under concession (€M) 31/12/2025 30/06/2026 APRR & AREA 7,474 7,210 Aliaé (A79) 697 693 Adelac (A41) 815 806 Aliénor (A65) 915 910 Millau Viaduct 334 332 Autoroute de l’Avenir motorway 206 202 Amedea (A412) 42 56 Prado Carénage tunnel 28 26 Motorway concessions 3,037 3,025 Toulouse Airport 974 953 Lille Airport 18 19 Airport concessions 992 972 Bretagne-Pays de la Loire HSRL 773 745 Nové 43 40 Renewable energies 155 157 Decathlon Arena Pierre Mauroy Stadium and ancillaries 230 226 Grande Arche 111 106 Other 230 247 Other concessions and PPPs 1,542 1,521 Getlink 2,595 2,696 Total 15,640 15,424
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5555 Major balances Contracting ▪ Sustain and develop the Group’s European roots ▪ Complete acquisitions in specialised business lines ▪ Expand around the world in export mode Concessions ▪ Manage, optimise and extend the maturity of our assets ▪ Strengthen our portfolio ▪ Explore new sectors Harness all the Group’s business lines right across the value chain ▪ Greenfield concessions ▪ Development ▪ Operations / Maintenance European roots Build up all the Group’s business lines and geographical coverage in its target countries
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5656 Energy sovereignty ▪ Decarbonisation of energy generation ▪ Optimisation of use and reduced energy footprint ▪ Increased energy generation All the Group’s business lines harnessed right across the value chain ▪ Eiffage Énergie Systèmes ▪ Eiffage Génie Civil, Eiffage Route, Eiffage Métal ▪ Eiffage Construction, Eiffage Immobilier, Eiffage Aménagement ▪ Eiffage Concessions Sustainable mobility Support for decarbonisation of transport Industrial sovereignty ▪ Relocation & extension of manufacturing facilities ▪ Production of new goods ▪ Changing digital habits Common trends across all the Group’s European positions A Group catering to the major trends in Europe
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57 Revenue of the 1st semester 1st semester Variation in millions of euros 2025 2026 ∆26/25 Actual structure Lfl Construction 2,013 ** 2,113 +5.0% +5.0% Infrastructure 4,231 ** 4,229 -0.0% -1.3% Energy Systems 3,772 3,954 +4.8% +2.0% Contracting 10,016 10,296 +2.8% +1.2% Concessions (excl. Ifric 12) 1,912 1,904 -0.4% +0.5% Total Group (excl. Ifric 12) 11,928 12,200 +2.3% +1.1% Of which: France 7,639 7,754 +1.5% +1.3% Europe excluding France 3,879 4,188 +8.0% +4.7% Total Europe 11,518 11,942 +3.7% +2.4% International (excluding Europe) 410 258 -37.1% -36.8% Contracting revenue (Ifric 12) 98 *** 90 n.s. 57 **Pro forma of Goyer's reclassification from Infrastructure to Construction ***Pro forma of a revision of the Ifric 12 provision
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58 Revenue of the 2nd quarter 2nd quarter Variations in millions of euros 2025 2026 ∆26/25 Actual structure Lfl Construction 1,068 ** 1,121 +5.0% +5.0% Infrastructure 2,300 ** 2,375 +3.3% +2.0% Energy Systems 1,936 2,063 +6.6% +4.1% Contracting 5,304 5,559 +4.8% +3.4% Concessions (excl. Ifric 12) 1,006 992 -1.4% -0.5% Total Group (excl. Ifric 12) 6,310 6,551 +3.8% +2.8% Of which: France 4,082 4,134 +1.3% +1.1% Europe excluding France 2,087 2,281 +9.3% +6.5% Total Europe 6,169 6,415 +4.0% +2.9% International (excluding Europe) 141 136 -3.5% -2.8% Contracting revenue (Ifric 12) 61 *** 53 n.s. 58 **Pro forma of Goyer's reclassification from Infrastructure to Construction ***Pro forma of a revision of the Ifric 12 provision
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Alternative performance indicators: definitions Item Definition “Construction” revenue generated by concessions (Ifric 12) “Construction” revenue generated by concessions corresponds to costs relating to services to build or improve infrastructure committed to by the concession operator determined in accordance with the requirements of Ifric 12, “Service Concession Arrangements”, after elimination of intragroup operations. Contracting order book Portion of signed contracts not executed. Net financial debt Net financial debt excluding debt from IFRS16 applied since 1st January 2019 and the fair value of swaps. Free cash flow Free cash flow is calculated as follows: Net cash from operating activities - net operating investments - lease obligation repayments - PPP contract debt repayments. Operating marging Operating profit / revenue. EBITDA Profit from recurring operations before depreciation, amortisation and provisions (net of reversals). Like-for-like (lfl) Constant consolidation scope is calculated by neutralising: the 2026 contribution made by companies consolidated for the first time in 2026; the 2026 contribution made by companies consolidated for the first time in 2025 for the period equivalent to that of 2025 which preceded their first-time consolidation; the contribution made in 2025 by companies deconsolidated in 2026 for the period equivalent to that of 2026 following their date of deconsolidation; the 2025 contribution made by companies deconsolidated in 2025. Constant exchange rate: 2025 exchange rates applied to 2026 revenues in currencies. Group’s liquidity The Group’s liquidity is calculated as follows: cash and cash equivalents managed by Eiffage S.A. and its Contracting subsidiaries + undrawn bank line(s) of credit of Eiffage S.A. APRR’s liquidity APRR’s liquidity is calculated as follows: cash and cash equivalents managed by APRR and its subsidiaries + undrawn bank line(s) of credit of APRR. 59
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60 Alternative performance indicators: calculation methods and reconciliation with financial statement aggregates Reconciliation between the aggregates of the cash flow statement and the free cash flow Reconciliation between items reported in the balance sheet and net financial debt in millions of euros H1 2025 H1 2026 Net cash from operating activities 451 420 Net operating investments (361) (291) Repayment of lease liabilities (181) (204) Free cash flow (91) (75) in millions of euros H1 2025 H1 2026 Cash & cash equivalents 5,268 4,517 Non-current provisions (12,032) (10,976) Current loans and other borrowings (2,176) (1,601) Part of non-current borrowings due within one year (980) (1,323) Restatement of derivative financial instruments 12 5 Net financial debt excluding IFRS 16 debt, fair value of swaps (9,908) (9,378) 60
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61 Investor relations contact and Agenda Quarterly information and turnover for the 3rd quarter 12.11.2026 Annual results and analysts presentation 24.02.2027 General Meeting of shareholders 21.04.2027 Quarterly information and turnover for the 1st quarter 12.05.2027 Half-year results and analysts’ presentation 25.08.2027 Quarterly information and turnover for the 3rd quarter 09.11.2027 Xavier Ombrédanne xavier.ombredanne@eiffage.com +33 (0)1 71 59 10 56
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62 Disclaimer 62