Slides
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H1 2026 Nexans delivering on its strategy of profitable growth
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H1 2026 RESULTS | Page 2 Nexans 2026 © All right Reserved SAFE HARBOUR This presentation contains forward-looking statements which are subject to various expected or unexpected risks and uncertainties that could have a material impact on the Company’s future performance. Readers are also invited to visit the Group’s website where they can view and download Nexans’ Universal Registration Document,which includes a description of the Group’s risk factors. NB: any discrepancies are due to rounding. INVESTOR RELATIONS: Contact: Audrey Bourgeois Telephone: +33 1 78 15 00 43 Email: audrey.bourgeois@nexans.com
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H1 2026 RESULTS | Page 3 Nexans 2026 © All right Reserved S E C T I O N O 1 H1 2026 Highlights
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H1 2026 RESULTS | Page 4 Nexans 2026 © All right Reserved Key Highlights Nexans delivering on its strategy of profitable growth & increased its exposure to the U.S. * H1 2025 is (i) pro forma from reclassifications of non-core automotive activity in Sweden from Industrial & Solutions to Other activities and (ii) restated in compliance with IFRS 5, see appendices CASH GENERATION +1.5% ORGANIC GROWTH H1 2026 vs. H1 2025* €3,249m GROUP STANDARD SALES 11.9% GROUP ADJUSTED EBITDA MARGIN €388m GROUP ADJUSTED EBITDA ELECTRIFICATION PERFORMANCE GROUP PERFORMANCE +4.5% ORGANIC GROWTH H1 2026 vs. H1 2025* ROCE 42.7% CASH CONVERSION RATIO 13.2% ELECTRIFICATION ADJUSTED EBITDA MARGIN CONSOLIDATED FROM JUNE 1st TRANSACTIONS DIVESTMENT COMPLETED ON JULY 3rd OPERATIONS PWR-TRANSMISSION MI LINE (MASS-IMPREGNATED) LOADED UNTIL MID-2028 ELECTRA 3rd CABLE LAYING VESSEL SUCCESSFULLY ENTERED INTO OPERATION STARTING JUNE 2026 NEXANS’ PWR-GRID CAPACITY EXPANSION IN EUROPE EXPECTED TO INCREASE BY c. +40% (2025 – 2028) H1 2026 And beyond… ACQUISITION OF 17.4% ROCE (vs. 27.5% in H1 2025*) 15.0% ROCE (vs. 22.3% in H1 2025*) NORTH AMERICAN FOOTPRINT EXPANDED
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H1 2026 RESULTS | Page 5 Nexans 2026 © All right Reserved S E C T I O N O 2 H1 2026 Business Overview
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H1 2026 RESULTS | Page 6 Nexans 2026 © All right Reserved Electrification Pure Player Model, a transversal business Deploying our innovative solutions portfolio across all the value chain of Electrification NEW MARKET PARADIGM INNOVATION INDUSTRIAL EXCELLENCENew types of partnerships opening for opportunities • Capacity expansion • Mutualisation of our industrial footprint • 3 strategic acquisitions in 12 months with capacity expansionParticularly in verticals such as: Data center Battery Energy Storage System Solar NEXANS AS A PREFERRED PARTNER WORLDWIDE THANKS TO ITS AGILITY & STRATEGY Our customers are rapidly changing their way of working M&A • Addressing end-users and decision-makers critical needs • R&D Center, Ampacity in Lyon (France) ADDRESSING CUSTOMER’S CRITICAL NEEDS Reliable solutions Efficient solutions Speed to market Sustainable solutions
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H1 2026 RESULTS | Page 7 Nexans 2026 © All right Reserved H1 2026 Strong momentum in Electrification, with solid underlying trends * H1 2025 pro forma and restated, in compliance with IFRS 5, see appendices GROUP +1.5% ORGANIC GROWTH H1 2025* H1 2026 3,093 3,249 372 388 ELECTRIFICATION OTHER (MAINLY METALLURGY) 2,615 2,854 478 395 H1 2025* H1 2026 H1 2025* H1 2026 +4.5% ORGANIC GROWTH STANDARD SALES (€m) ADJ. EBITDA (€m) AND MARGIN (%) -15.6% ORGANIC GROWTH 358 13.7% 376 14 2.9% 11 2.8% Persistence of an adverse mix effect in some countries in PWR-Connect Gradual and progressive improvements of margins in recently acquired companies Strong discipline on industrial & operational excellence enabling greater agility 11.9% 13.2% 12.0% Deployment of its innovative solutions providing pricing power
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H1 2026 RESULTS | Page 8 Nexans 2026 © All right Reserved PWR-TRANSMISSION Strong improvement of Adj. EBITDA margin & good visibility on our MI line PWR-TRANSMISSION PERFORMANCE * H1 2025 pro forma and restated, in compliance with IFRS 5, see appendices GOOD VISIBILITY UNTIL 2028 7.77.46.1 3.5 DEC 2022 DEC 2023 DEC 2024 JUN 2026 -0.1% ADJUSTED BACKLOG (€bn) 7.7 DEC 2025 Organic growth pattern started to normalize in H1 as expected Mechanical high comparison basis throughout 2026 after 2 yrs. of strong momentum (even higher in Q4) Strong improvement of Adj. EBITDA margin +195 bps at 13.7% of standard sales, confirming the segment trajectory towards “high teens” in 2028 Adj. backlog remained flat in H1 2026 but pipeline of activity remains very rich for subsea activities in the mid-term GSI €1.2bn 747 777 88 11.8% 107 13.7% +4.0% H1 2025* H1 2026 STANDARD SALES (€m) ADJ. EBITDA (€m) AND MARGIN (%) -0.1%ORGANIC GROWTH +4.1%FX n.a.SCOPE MI line fully loaded until mid-2028
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H1 2026 RESULTS | Page 9 Nexans 2026 © All right Reserved PWR-TRANSMISSION 3rd cable laying vessel Electra successfully entered into operation in June 2026 3 turntables 13,500 tons of capacity (+35% vs Aurora) Capability to lay 4 cables simultaneously Hybrid power system (incl. biodiesel) Advanced subsea tooling (incl. jetting and burial systems)
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H1 2026 RESULTS | Page 10 Nexans 2026 © All right Reserved PWR-GRID Strong positioning of Nexans in a buoyant worldwide market H1 2026: +4.9% organic growth in line with mid-term targets Structural business mix in PWR-Grid: ~2/3 framework agreements ~1/3 project-driven activity Very strong global demand significantly outpacing available industry capacity +4.9%ORGANIC GROWTH -1.2%FX -SCOPE * H1 2025 pro forma and restated, in compliance with IFRS 5, see appendices H1 2025* H1 2026 677 702 107 15.9% 108 PWR-GRID PERFORMANCE 15.4% High level of margin: 15.4% of std. sales thanks to: Very strong demand for innovative solutions Good pricing power +3.7% STANDARD SALES (€m) ADJ. EBITDA (€m) AND MARGIN (%)
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H1 2026 RESULTS | Page 11 Nexans 2026 © All right Reserved PWR-Grid Capacity expansion in Europe to capture strong market trends ATTRACTIVE MARKET PERSPECTIVES WORLDWIDE of cables to be built or replaced by 2040, the equivalent of today’s grid over the next 15 years c. +40% (2025 to 2028) 80M km of the world’s power grid by 2030 not fit for purpose to handle renewable energy ~50% Modernization of ageing grid Renewables increase in electricity mix Grid reliability Need for capacity increase in the grid Nexans PWR-Grid Europe adding Manufacturing capacity expansion Source: IEA, Electricity Grids and Secure Energy Transitions (2023) Source: IEA, Grid Readiness
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H1 2026 RESULTS | Page 12 Nexans 2026 © All right Reserved +7.3%ORGANIC GROWTH -1.8%FX +10.0%SCOPE PWR-CONNECT Good momentum & resilient margins despite an adverse mix effect H1 2026 +15.4% total std. sales growth Margin performance reflected the persisting and temporary adverse mix effect Nordics best-in class performers still constrained by market conditions Italy growing with margins that have not yet reached the segment average * H1 2025 and H2 2025 pro forma and restated, in compliance with IFRS 5, see appendices H1 2025* H1 2026 1,192 1,149 1,375 163 13.6% 162 11.8% +10.0% scope: linked to value creative acquisitions (Cables RCT, Electro Cables & Republic Wire) +7.3% organic growth at exceptionally high level, with strong momentum in Latin America & some European countries (incl. Italy) +15.4% 126 11.0% H2 2025* STANDARD SALES (€m) ADJ. EBITDA (€m) AND MARGIN (%) PWR-CONNECT PERFORMANCE
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H1 2026 RESULTS | Page 13 Nexans 2026 © All right Reserved S E C T I O N O 3 H1 2026 Key Financials
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H1 2026 RESULTS | Page 14 Nexans 2026 © All right Reserved H1 2026 Standard sales bridge Organic Scope FX 3,093 3,249+3.8% +1.5% H1 2025(1) H1 2026 +5.0% (0.3%) in €m Electrification +4.5% (1) H1 2025 pro forma and restated, in compliance with IFRS 5, see appendices (2) Mainly Metallurgy Incl. Incl. Electro Cables Cables RCT Republic Wire Other Activities(2) -15.6%
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H1 2026 RESULTS | Page 15 Nexans 2026 © All right Reserved H1 2026 Adjusted EBITDA bridge PWR-Transmission PWR-Grid PWR-Connect FX Other Activities 372 38816 H1 2025(1) H1 2026 +4.3% (3) in €m (1) H1 2025 pro forma and restated, in compliance with IFRS 5, see appendices (2) €20m of scope composed of i) 6 months of Electro Cables ii) 5 months of Cables RCT iii) 1 month of Republic Wire 2 3 (2) Electrification Businesses +€21m Incl. €20m scope(2)
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H1 2026 RESULTS | Page 16 Nexans 2026 © All right Reserved H1 2026 financial performance Profitable growth with resilient Adj. EBITDA conversion In €m H1 2025* H1 2026 Var % SALES AT CURRENT METAL PRICES 3,977 4,736 +19.1% SALES AT STANDARD METAL PRICES 3,093 3,249 +5.0% ADJUSTED EBITDA 372 388 +4.3% Adj. EBITDA (% of standard sales) 12.0% 11.9% -8 bps NET INCOME FROM CONTINUING OPERATIONS 143 123 -14.3% NET INCOME FROM DISCONTINUED OPERATIONS 231 (17) n.a. NET INCOME GROUP 374 106 -71.7% Solid operating performance, Adj. EBITDA growth broadly in line with revenue growth * H1 2025 pro forma and restated, in compliance with IFRS 5 Robust level of Adj. EBITDA margin, low performers businesses still improving & catching up with the Group’s best performers Still an adverse mix effect on margins in PWR- Connect Increase of D&A linked to mainly PWR Transmission and acquisitions Positive Corex linked to the evolution of copper price Negative FX linked to hedging Net income from disc. operations : H1 2025 included the net gains on disposals of Amercable and Lynxeo and a net impairment linked to Autoelectric. H1 2026 is linked to net income of Autoelectric
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H1 2026 RESULTS | Page 17 Nexans 2026 © All right Reserved (266) 388 121 (26) (75) (49) (191) (3) (131) (789) (1) (16) (1,038) H1 2026 Net debt bridge NET DEBT DEC 2025 Dividend & Others equity operations NET DEBT JUN 2026 M&A and disposals Income Taxes Paid & Others Reorganization cash-out NET DEBT EVOLUTION (€m) IFRS16 & FX impacts Leverage(1) 0.36x Financial interest Capital expenditures Other Investing Change in Working Capital Adj. EBITDA CASH FLOW FROM OPERATIONS €409m CASH CONVERSION RATIO (2) 43%FREE CASH FLOW €165m Change in discontinued activities Leverage(1) 1.40x (1) Ratio of closing net debt to adjusted EBITDA on trailing twelve-month basis (2) Calculated as Free Cash Flow / adjusted EBITDA (1,038)
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H1 2026 RESULTS | Page 18 Nexans 2026 © All right Reserved 200 400 350 250 575 500 800 2029 May 2028 April 2030 March Undrawn Revolving Credit Facility Maturity October 2029 Sustainability-Linked Bond 5.50% Bond 4.125% Bond 4.25% (1) The bridge term loan was signed in April 2026 with an initial 12-month maturity and two 6-month extension options. The proceeds were used to partially finance the acquisition of Republic Wire, serving as bridge financing ahead of a debt capital markets issuance. The interest rate is indexed to Euribor. (2) European Investment Bank: €200m financing at 1.93% maturing April 2027, and €250m undrawn loan availability period until July 2027 (3) Ratio of closing net debt to adjusted EBITDA on trailing twelve-month basis (4) Fixed-rate commercial paper for c.€100m; IFRS 16 for c.€178m; and local borrowings, accrued interests, IFRS restatements on ordinary bonds & others for c. €191m. Excluding commercial paper, local borrowings, IFRS restatements (4) 100% FIXED-RATE excl. Bridge-to-bond €1,456m 2027 April Cash & Cash Equivalents DEBT PROFILE AND MATURITIES AS OF JUNE 30, 2026 (€m) vs. €1,634m as of Dec 31, 2025 as of June 30, 2026 Total liquidity €2,506m vs. €2,684m EIB(2) Undrawn Maturity July 2027 1.4x FINANCIAL LEVERAGE (3) BB+ STABLE OUTLOOK Leverageratio Credit Rating Standard & Poor’s, last reviewed 16/02/2026 c.4.1% H1 2026 Group average cost of debtIncl. €800m RCF and €250m EIB both undrawn, as of June 30, 2026 as of Dec 31, 2025 EIB(2) Drawn Bridge term loan(1) Maturity April 2027 H1 2026– Well-diversified debt profile, no upcoming maturity before April 2027 Well-positioned to invest in our future growth with attention to discipline
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H1 2026 RESULTS | Page 19 Nexans 2026 © All right Reserved S E C T I O N O 4 2026 Outlook
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H1 2026 RESULTS | Page 20 Nexans 2026 © All right Reserved ADJUSTED EBITDA FREE CASH FLOW This guidance does not assume execution of the Great Sea Interconnector project in 2026 but includes the load of MI line at the end of 2026 This guidance takes into account the contribution of Republic Wire starting 1st June 2026 and excludes the contribution of any future acquisitions 2026 GUIDANCE UPGRADED (previously : €730M – €810M) €770M – €840M (previously: €210M – €310M) €235M – €325M
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H1 2026 RESULTS | Page 21 Nexans 2026 © All right Reserved Appendices
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H1 2026 RESULTS | Page 22 Nexans 2026 © All right Reserved ADJ. EBITDA FCF CONVERSION(1) ROCE DIVIDEND PAYOUT(2) LEVERAGE(3) GROUP >45% >20% 30% €1,150m (+/-€75M) ORGANIC SALES 2024-2028 CAGR (ELECTRIFICATION) 3-5% ≤ 1.0x 2028 guidance (1) FCF pre-M&A and equity operations / Adj. EBITDA assuming flat change in WC (2) Share of recurring net income (3) Ratio of Net Debt to Adjusted EBITDA
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H1 2026 RESULTS | Page 23 Nexans 2026 © All right Reserved Financial trajectory toward 2028 Agility and discipline across the board PWR-Transmission PWR-Grid PWR-ConnectFY 2025 FY 2028E Commercial Growth Quality of Execution Backlog Volume growth Mix premium Industrial excellence Volume growth Mix premium Operational excellence Competitiveness €728m €1,150m (+/- €75m) + Additional M&A Adjusted EBITDA (m€)
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H1 2026 RESULTS | Page 24 Nexans 2026 © All right Reserved A selective approach to further improve every business unit, catching up progressively with the Group best performers OUR VALUE CREATIONOUR GROWTH OUR CAPITAL ALLOCATION ADJUSTED EBITDA EXPANSION FREE CASH FLOW GENERATION Supported by Integrated metallurgy copper supply chain & copper recycling offer to our customers TARGETED M&A PWR-GRID & PWR-CONNECT SHAREHOLDER RETURN TARGETED M&A PWR-GRID & PWR-CONNECT SELECTIVE ORGANIC GROWTH L O W L E V E R A G E GROWTH CAPEX Nexans’ value creation model, Global Electrification Pure Player A model of profitable growth & solid cash generation
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H1 2026 RESULTS | Page 25 Nexans 2026 © All right Reserved Diversified end-markets and balanced geographic footprint % SALES AT STANDARD METAL PRICES, EXCLUDING PWR-TRANSMISSION 16% NORTH AMERICA €682m 14% LATIN AMERICA €638m 53% EUROPE €2,367m 10% MIDDLE EAST & AFRICA €448m 7% APAC €307m €6.1Bn 2025 STANDARD SALES 38% 40% PWR-TRANSMISSIONPWR-GRID PWR-TRANSMISSION 13% 2% PWR-CONNECT 28% 30% €728m 2025 ADJUSTED EBITDA 27%22% PWR-GRID OTHERSOTHERS PWR-CONNECT
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H1 2026 RESULTS | Page 26 Nexans 2026 © All right Reserved €6 .1bn STANDARDSALES 25,700 PEOPLE 41 COUNTRIES OUR PURPOSE WE ELECTRIFY THE FUTURE OUR VALUES DEDICATED PIONNEERS UNITED OUR PROMISE SCALE-UP TO STEP-UP ELECTRIFICATIONBUSINESSES 2025 (1) Including Autoelectric (1) (1) PWR-TRANSMISSION PWR-GRID PWR-CONNECT OTHER (MAINLY METALLURGY) Nexans at a glance A global player of energy transition
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H1 2026 RESULTS | Page 27 Nexans 2026 © All right Reserved Our strategy Electrifying the future PWR-TRANSMISSION Offshore wind Residential Datacenters Industrial Commercial Mobility Infrastructure Centralized generation Transmission subsea and land Distribution Usage Onshore wind Solar Hydro Nuclear Distributed generation (Utility scale) Distributed generation (Private) ELECTRIFICATION PWR- CONNECTPWR- GRID
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H1 2026 RESULTS | Page 28 Nexans 2026 © All right Reserved Copper production capacity Recycled copper an increasing part of the mix Source: Nexans data, Oliver Wyman analysis Inputs Outputs CATHODES & MILLBERRY COPPER SCRAP 240kt up to 240kt up to 80kt ROD NCCCR(1) project will unlock recycling capacity for Nexans starting in 2027, with flexibility between scrap refining volumes and primary copper use (1)NCCCR: Nexans Continuous Copper Casting and Refining, in Lens, France
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H1 2026 RESULTS | Page 29 Nexans 2026 © All right Reserved Nexans ESG Ratings Ratings go from 0 (lower) to 100 (higher) CLIMATE & SUPPLIER ENGAGEMENT(1) WATERRatings go from D- (lowest) to A (highest) Ratings go from CCC (lowest) to AAA (highest) 78 A A- A 22.6 Ratings go from 0 (negligible risk) to 40+ (severe risk) Nexans’ continuous ESG progress is positioning the Group among the top performers in its industry as of 2026 as of Feb 2026 as of Jul 2026 as of Jul 2025 (1)Supplier Engagement score reflects CDP's assessment of companies' climate engagement across their value chain and supplier management practices
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H1 2026 RESULTS | Page 30 Nexans 2026 © All right Reserved Sustainability In our compass SCIENCE BASED INITIATIVE (SBTi) TARGETS VS 2019 BASE YEAR SCOPE 3 EMISSIONS UPSTREAM SCOPE 1 EMISSIONS DIRECT SCOPE 3 EMISSIONS DOWNSTREAM SCOPE 2 EMISSIONS INDIRECT PURCHASE OF RAW MATERIALS BUSINESS TRAVEL USE OF SOLD PRODUCTS INDUSTRIAL OPERATIONS PURCHASE OF ELECTRICITY FREIGHT FREIGHT WASTES Carbon emissions reduction (in %) 2019 2028 2030 -30% -46% 2050 -30% -42% APPROVED 2025 -49% -40% Good performance and progress to date occurs in stages and cannot be extrapolated linearly to the year 2030. Rounded figures. -49% -40% Mainly driven by: • Energy efficiency initiatives on sites • 66% of Renewable Electricity used in our facilities • Low-Carbon Aluminum purchased Scopes 1&2 Scope 3 2025
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H1 2026 RESULTS | Page 31 Nexans 2026 © All right Reserved H1 2026 standard sales Impact of scope changes & exchange rates on standard(1) sales (1) Standard: Copper standard price at €5,000/t and Aluminum standard price at €1,200/t. (2) H1 2025 is (i) pro forma from reclassifications of non-core automotive activity in Sweden from Industrial & Solutions to Other activities and (ii) restated in compliance with IFRS 5 (in millions of euros) H1 2025(2) Scope Currency Organic growth H1 2026 PWR-Transmission 746.9 - 30.8 (1.0) 776.8 PWR-Grid 677.1 - (8.0) 32.8 701.9 PWR-Connect 1,191.5 118.8 (20.5) 85.1 1,374.9 Electrification 2,615.5 118.8 2.3 116.9 2,853.6 Other activities 478.0 - (11.0) (72.0) 395.0 TOTAL GROUP 3,093.5 118.8 (8.7) 45.0 3,248.6
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H1 2026 RESULTS | Page 32 Nexans 2026 © All right Reserved 2026 information by segment QUARTERLY ORGANIC GROWTH(1) BY SEGMENT STANDARD(2) SALES CURRENT SALESADJUSTED EBITDA Q1 2026 Q1 2025 Q2 2026 Q2 2025 H1 2026 H1 2025 PWR-Transmission +8.8% +21.7% (6.2%) +21.6% (0.1%) +21.7% PWR-Grid +5.7% +1.3% +4.2% +9.0% +4.9% +5.3% PWR-Connect +2.5% +1.5% +12.0% (1.4%) +7.3% +0.0% Electrification +4.9% +6.5% +4.1% +8.5% +4.5% +7.6% Other activities (24.1%) +0.1% (6.1%) +6.3% (15.6%) +2.9% TOTAL GROUP +0.1% +5.2% +2.7% +8.2% +1.5% +6.8% (in millions of euros) Q1 2026 Q1 2025 Q2 2026 Q2 2025 H1 2026 H1 2025 PWR-Transmission 342.0 307.7 434.8 439.2 776.8 746.9 PWR-Grid 322.4 313.4 379.5 363.7 701.9 677.1 PWR-Connect 646.8 603.2 728.1 588.3 1,374.9 1,191.5 Electrification 1,311.2 1,224.2 1,542.3 1,391.3 2,853.6 2,615.5 Other activities 185.6 253.8 209.4 224.2 395.0 478.0 TOTAL GROUP 1,496.8 1,478.0 1,751.7 1,615.5 3,248.6 3,093.5 (in millions of euros) Q1 2026 Q1 2025 Q2 2026 Q2 2025 H1 2026 H1 2025 PWR-Transmission 359.3 315.9 479.4 442.2 838.6 758.0 PWR-Grid 404.5 374.3 491.8 433.1 896.3 807.4 PWR-Connect 1,016.7 826.4 1,183.2 808.7 2,199.9 1,635.1 Electrification 1,780.4 1,516.5 2,154.4 1,684.0 3,934.8 3,200.6 Other activities 365.6 415.2 435.6 361.4 801.2 776.7 TOTAL GROUP 2,146.0 1,931.8 2,590.0 2,045.5 4,736.0 3,977.2 (in millions of euros) H1 2026 H1 2025 PWR-Transmission 106.5 87.9 PWR-Grid 108.1 107.5 PWR-Connect 161.8 162.6 Electrification 376.5 357.9 Other activities 11.2 13.8 TOTAL GROUP 387.7 371.7 (1) Organic growth on Standard sales at constant scope and currency (2) Standard: Copper standard price at €5,000/t and Aluminum standard price at €1,200/t (3) Q1, Q2 and H1 2025 are (i) pro forma from reclassifications of non-core automotive activity in Sweden from Industrial & Solutions to Other activities and (ii) restated in compliance with IFRS 5 (3) (3) (3) (3) (3) (3) (3)(3)(3)(3)
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H1 2026 RESULTS | Page 33 Nexans 2026 © All right Reserved H1 2025 Pro Forma Bridge (1) The reclassification reflects the transfer of non-strategic operations in Sweden from the Industry & Solutions segment to Other Activities. (2) The IFRS 5 restatements reflect i) the deconsolidation of Non-Electrification activities following the announcement of exclusive negotiations for the divestiture of Autoelectric (the segment's last remaining business) and ii) the reclassification as external sales of sales made to the Industry & Solutions business, previously recorded as intercompany sales. (in millions of euros) H1 2025 Reported Scope reclass.(1) IFRS 5 Restatements(2) H1 2025 Pro Forma & Restated PWR-Transmission 746.9 - - 746.9 PWR-Grid 674.4 - 2.7 677.1 PWR-Connect 1,186.1 - 5.4 1,191.5 Non-Electrification (Industry & Solutions) 721.1 (20.4) (700.7) - Subtotal excl. Other activities 3,328.6 (20.4) (692.7) 2,615.5 Other activities 436.8 20.4 20.8 478.0 TOTAL GROUP 3,765.3 - (671.8) 3,093.5 (in millions of euros) H1 2025 Reported Scope reclass.(1) IFRS 5 Restatements(2) H1 2025 Pro Forma & Restated PWR-Transmission 87.9 - - 87.9 PWR-Grid 107.5 - - 107.5 PWR-Connect 162.6 - - 162.6 Non-Electrification (Industry & Solutions) 70.4 (5.7) (64.8) - Subtotal excl. Other activities 428.3 (5.7) (64.8) 357.9 Other activities 12.7 5.7 (4.7) 13.8 TOTAL GROUP 441.1 - (69.4) 371.7 BRIDGE H1 2025 STANDARD SALES BRIDGE H1 2025 ADJUSTED EBITDA
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H1 2026 RESULTS | Page 34 Nexans 2026 © All right Reserved EBITDA to adjusted EBITDA (1) H1 2025 is restated in compliance with IFRS 5 (2) In H1 2026, the Specific operating items included (€9m) related to IFRS2 share-based payment expenses Adjusted EBITDA to operating income (in millions of euros) H1 2026 H1 2025(1) EBITDA 379 351 EBITDA margin (% of standard sales) 11.6% 11.3% IFRS 2 Share-based expense payments 9 25 Other specific operating items (0) (3) ADJUSTED EBITDA 388 372 Adjusted EBITDA margin (% of standard sales) 11.9% 12.0% (in millions of euros) H1 2026 H1 2025(1) ADJUSTED EBITDA 388 372 Specificoperatingitems(2) (9) (21) Depreciationand amortization (153) (101) OPERATINGMARGIN 226 249 Core exposure effect 75 11 Reorganizationcosts (34) (19) Other operational income and expenses (19) (21) - Of which: net asset impairment - - - Of which: M&A expenses (14) (4) - Of which: Net gains on asset disposal (2) 0 Share in net income (loss) of associates (0) 1 OPERATING INCOME 247 222
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H1 2026 RESULTS | Page 35 Nexans 2026 © All right Reserved H1 2025 Restated Net debt bridge (681) 372 203 (14) (71) (41) (144) 4 (191) (84) (90) 688 (48) NET DEBT DEC 2024 Dividend & Others equity operations NET DEBT JUN 2025 M&A and disposals Income Taxes Paid & Others Reorganization cash-out NET DEBT EVOLUTION (€m) IFRS16 & FX impacts Financial interest Capital expenditures Other Investing Change in Working Capital Adj. EBITDA CASH FLOW FROM OPERATIONS €489m CASH CONVERSION RATIO (1) 83.1%FREE CASH FLOW €309m Change in discontinued activities (1) Calculated as Free Cash Flow / adjusted EBITDA
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H1 2026 RESULTS | Page 36 Nexans 2026 © All right Reserved Balance Sheet As of June 30, 2026 (1)Closing Net debt / Net equity. (2)Average of last two published net debt / LTM EBITDA. (3) DEC 2024 is restated in compliance with IFRS 5. In €m JUN 2026 DEC 2025 Fixed assets and other non-current assets 4,002 3,266 of which: goodwill 1,175 680 Deferred tax assets 62 81 NON-CURRENT ASSETS 4,064 3,347 Working capital (376) (539) Net assets held for sale 76 61 TOTAL TO BE FINANCED 3,764 2,869 Net financial debt 1,038 266 Reserves 343 348 of which restructuring provisions 26 16 of which pension & jubilees reserves 153 170 Deferred tax liabilities 186 177 Derivative liability non-current 42 64 Shareholders’ equity and minority interests 2,154 2,014 TOTAL FINANCING 3,764 2,869 GEARING RATIO DEBT COVENANTS LEVERAGE RATIO 37% 13% 48% DEC 2024(3) DEC 2025 JUN 2026 Net debtCovenant @120% Gearing(1) Net debtCovenant @3.2x EBITDA Leverage(2) 1.4x 0.2x 0.9x DEC 2024(3) DEC 2025 JUN 2026
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H1 2026 RESULTS | Page 37 Nexans 2026 © All right Reserved Glossary Adjusted PWR-Transmission backlog: Backlog adjusted for secured but not yet implemented Subsea, Land and Special Telecom contracts. Adjusted EBITDA: Starting 2023, Nexans consolidated adjusted EBITDA is defined as operating margin before (i) depreciation and amortization, (ii) share-based payment expenses, and (iii) other specific operating items which are not representative of the business performance. Free Cash Flow (FCF): FCF is determined based on EBITDA restated for the net change in provisions including pensions/other post-employments benefits and other non-cash items. It also includes net changes working capital, capital expenditures net of disposal proceeds, other investing cash-in/out but excluding those related to the sale/purchase of shares in a company with a change in consolidation method, restructuring cash-out, financial interest paid and income tax paid. Operating margin: The operating margin is assessed before the impact of (i) the revaluation of the Core exposure, (ii) impairment of property, plant and equipment, intangible assets or goodwill resulting from impairment tests, (iii) the change in fair value of non-ferrous metal financial instruments, (iv) capital gains and losses on asset disposals, (v) related acquisition costs for completed acquisitions and costs and fees related to planned acquisitions, (vi) expenses and provisions for antitrust investigations, (vii) reorganization costs, (viii) the share in net income of associates, (ix) net financial income (loss), (x) taxes and (xi) net income from discontinued operations. Organic growth: Standard sales growth as a percentage of prior- year standard sales. Organic growth is a measure of growth excluding the impact of changes in the scope of consolidation and changes in exchange rates. ROCE (Return on Capital Employed): ROCE is defined as 12 months Operating Margin in relation to end-of-period Operational Capital Employed, excluding the antitrust provision. Operational Capital Employed includes working capital items, intangible and tangibles assets, loans and receivables, deferred taxes, reserves excluding pensions and other employee benefit reserves and restructuring reserves. Recurring net income: the recurring net income corresponds to the sum of the operating margin, the cost of financial debt (net), other financial income and expenses (excluding impairment of financial assets where applicable), and the normative corporate income tax. Sales at standard non-ferrous metal prices: Sales figures based on a standard price for copper and aluminum in order to neutralize the effect of fluctuations in non-ferrous metal prices and therefore measure the underlying sales trend. Starting on January 1, 2020, these references are set at 5,000 euros per metric ton for copper and 1,200 euros per metric ton for aluminum and are then converted into the currencies of each unit, thus taking into account the specific economic conditions of the units. Sales at current non-ferrous metal prices: Net sales (at current metal prices) represent revenue from sales of goods held for resale, as well as sales of goods and services deriving from the Group’s main activities, for which consideration has been promised in contracts drawn up with customers.
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FINANCIAL CALENDAR October 22, 2026: Q3 2026 financial information Financial Calendar and Contact Audrey Bourgeois VP Investor Relations +33 1 78 15 00 43 audrey.bourgeois@nexans.com February 24, 2027: 2026 full-year results