Slides
Page 1
Q3 AND 9M 2025 REVENUE October 24, 2025 Olivier ANDRIES Chief Executive Officer Pascal BANTEGNIE Chief Financial Officer
Page 2
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 2 SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 FORWARD-LOOKING STATEMENTS This document contains forward-looking statements relating to Safran, which do not refer to historical facts but refer to expectations based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those included in such statements. These statements or disclosures may discuss goals, intentions and expectations as to future trends, synergies, value accretions, plans, events, results of operations or financial condition, or state other information relating to Safran, based on current beliefs of management as well as assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “would,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “possible,” “potential,” “predict,” “project” or other similar words, phrases or expressions. Many of these risks and uncertainties relate to factors that are beyond Safran’s control. Such factors may cause Safran’s actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward looking statements. Therefore, investors and shareholders should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: uncertainties related in particular to the economic, financial, competitive, tax or regulatory environment; the risks that the new businesses will not be integrated successfully or that the combined company will not realize estimated cost savings and synergies; Safran’s ability to successfully implement and complete its plans and strategies and to meet its targets; the benefits from Safran’s plans and strategies being less than anticipated; the risks described in the Universal Registration Document (URD). The foregoing list of factors is not exhaustive. While the list of factors presented here is representative, no list should be considered a statement of all potential risks, uncertainties or assumptions that could have a material adverse effect on Safran’s consolidated financial condition or results of operations. Forward-looking statements speak only as of the date they are made. Safran does not assume any obligation to update any public information or forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws. USE OF NON-GAAP FINANCIAL INFORMATION This document contains supplemental non-GAAP financial information. Readers are cautioned that these measures are unaudited and not directly reflected in the Group’s financial statements as prepared under International Financial Reporting Standards and should not be considered as a substitute for GAAP financial measures. In addition, such non-GAAP financial measures may not be comparable to similarly titled information from other companies. ADJUSTED DATA All revenue figures in this presentation represent adjusted data(1) (except where noted). Safran’s consolidated income statement has been adjusted for the impact of: ▪ purchase price allocations with respect to business combinations. Since 2005, this restatement concerns the amortization charged against intangible assets relating to aircraft programs revalued at the time of the Sagem-Snecma merger. With effect from the first half 2010 interim financial statements, the Group decided to restate: ▪ the impact of purchase price allocations for business combinations, particularly amortization and depreciation charged against intangible assets and property, plant and equipment recognized or remeasured at the time of the transaction and amortized or depreciated over extended periods due to the length of the Group’s business cycles and the impact of remeasuring inventories, as well as ▪ gains on remeasuring any previously held equity interests in the event of step acquisitions or asset contributions to joint ventures ▪ the mark-to-market of foreign currency derivatives, in order to better reflect the economic substance of the Group’s overall foreign currency risk hedging strategy: ▪ revenue net of purchases denominated in foreign currencies is measured using the hedged rate, resulting from the exchange rate effectively obtained over the year under hedging strategies, including premiums on settled options, and ▪ all mark-to-market changes on instruments hedging future cash flows are neutralized ▪ The resulting changes in deferred tax have also been adjusted. ORGANIC GROWTH ▪ Organic variations were determined by excluding the effect of changes in scope of consolidation and the impact of foreign currency variations. ADDITIONAL INFORMATION Amounts shown on subsequent pages may not add due to rounding. Disclaimer & foreword (1) See slide 13 for bridge with consolidated revenue
Page 3
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 3 SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 Q3 and 9m 2025 revenue key highlights ▪ Strong Q3 performance • Continued aftermarket momentum o Spare parts for civil engines up 16% (in $) o Services for civil engines up 24% (in $) ▪ Record level of LEAP engine deliveries • 511 units in Q3, up 40% • 1,240 units over 9 months, up 21% ▪ Smooth integration of flight controls and actuation activities ▪ FY 2025 outlook raised 6,639 7,852 Q3 2024 Q3 2025 Adjusted revenueIn €M +18.3% +18.5% org. 19,686 22,621 9m 2024 9m 2025 Adjusted revenueIn €M +14.9% +15.0% org.
Page 4
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 4 Business highlights SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 Safran and Rheinmetall sign framework agreement for advanced Defense solutions PGZ defense partnership for innovation and local industrial cooperation Safran Unveils Its Next-Generation Infrared Binoculars at DSEI 2025 Morocco: new LEAP-1A assembly line announced and groundbreaking of LEAP MRO facility
Page 5
Q3 2025 REVENUE
Page 6
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 6 FX SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 ▪ 2025 hedge rate set at $1.12 ▪ $54bn hedge book(1) as of September 2025 ($55bn as of June 2025) Spot rate Estimated net exposure(2) ($bn) €/$ Q3’24 Q3’25 Average spot rate 1.10 1.17 (1) The hedge book includes barrier options with knock-out triggers (American or European) ranging from $1.15 to $1.30, representing a risk to the size of the book and to targeted hedge rates from 2025 onwards in case of sudden and significant exchange rates fluctuations (2) Annual estimated net exposure capped by construction at $14bn from 2025 onwards Note: Approx. 45% of Safran US$ revenue is naturally hedged by US$ procurement 14 14 14 14 14 2025e 2026e 2027e 2028e 2029e €/$ hedge rate target 1.12 1.12 1.12 1.12 n.d. €/$ 9m’24 9m’25 Average spot rate 1.09 1.12
Page 7
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 7 Q3 2025 revenue SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 Revenue ▪ Organic: +18.5% ▪ Currency: (4.7)% • €/$ spot rate: 1.17 in Q3’25 (1.10 in Q3’24) ▪ Scope: +4.5% • Including 2 months contribution of actuation and flight controls business 6,639 7,865 7,8521,226 296 (309) Q3 2024 Organic growth Q3 2025 at Q3 2024 scope & FX Currency impact Change in scope Q3 2025 itleIn €M +18.5% org. +18.3%In €M +18.5% org. +18.3% +18.5% org. +18.3% +18.5% org. +18.3%
Page 8
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 8 Q3 2025 revenue per activity SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 ▪ Propulsion Civil engines o 511 LEAP deliveries (up 40% yoy; up 25% sequentially) o Spare parts 16% mainly driven by CFM56 o Services 24% driven notably by LEAP RPFH Military revenues down both in aftermarket and OE Helicopter revenues are up, mostly driven by services ▪ Equipment & Defense OE: +12% led by landing gears (A320neo, 787), electrical and power systems and nacelles (A320neo), with a positive contribution from avionics, defense and space activities Services: +11% led by landing systems, electrical systems and nacelles (A320neo) ▪ Aircraft Interiors OE: +12% with a robust growth from Cabin, partially offset by lower Business class seats deliveries (certification challenges) Services: +7% driven by Cabin Adjusted data (In €M) Propulsion 3,339 4,044 21.1% 25.6% Equipment & Defense 2,527 3,004 18.9% 11.7% Aircraft Interiors 771 802 4.0% 9.8% Others 2 2 - - Safran 6,639 7,852 18.3% 18.5% Q3 2024 Q3 2025 Change Organic Change
Page 9
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 9 SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 ▪ Update on share buyback program • €850m purchased between January and July (c. 3.4m shares) • €50m initially bought for convertible bonds’ hedging and reallocated for cancellation (c. 0.2m shares) • €500m buyback tranche in progress ; c. 1.5m shares repurchased as of October 17, 2025 (to be completed no later than December 5, 2025) • As of October 17, 2025, Safran owns 5.1 million shares to be cancelled by year-end ▪ Update on tariffs environment • EU / US: exemption on aerospace products effective from September 1st, 2025 ; although certain items not included • Mexico & Canada / US: majority of products eligible to USMCA regime • Section 232: imports of steel/aluminum/copper to the US are subject to custom duties • Situation remains fluid, especially regarding China–US trade • Actively managing exposure via mitigation measures and commercial actions • 2025 outlook now includes an expected net impact of €(100)-(150)m in the recurring operating income Other items
Page 10
FY 2025 OUTLOOK
Page 11
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 11 February 2025 (excluding tariffs) April 2025 (excluding tariffs) July 2025 (excluding tariffs) October 2025 (including tariffs) Revenue up around 10% up around 10% up low-teens up 11% - 13% Recurring operating income €4.8 – 4.9bn €4.8 – 4.9bn €5.0 – 5.1bn €5.1 – 5.2bn Free Cash Flow €3.0 – 3.2bn €3.0 – 3.2bn €3.4 – 3.6bn €3.5 – 3.7bn Including €(380) – (400)m of estimated French corporate surtax Subject to payment schedule of some advance payments and the rhythm of payments by state-clients LEAP engine deliveries up 15% to 20% > 20% Civil aftermarket Spare parts (in $): up HSD+ Services (in $): up mid-teens Spare parts (in $): up low-teens Services (in $): up mid-teens Spare parts (in $): up mid to high-teens Services (in $): up mid to high-teens Spare parts (in $): up mid to high-teens Services (in $): up low to mid-twenties Watch item Supply chain production capabilities SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 FY 2025 outlook upgraded and including the expected net impact from tariffs of €(100)-(150)m At current perimeter (excluding Collins), adjusted data, €/$ spot rate of 1.10 and hedge rate of 1.12 Safran’s main assumptions Expected net contribution from flight control and actuation activities acquired in July ▪ Revenue: ~€650 million ▪ Recurring operating margin: MSD before separation and integration costs
Page 12
APPENDIX
Page 13
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 13 Q3 and 9m 2025 consolidated and adjusted revenue SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 Q3 2025 (In Euro million) Deferred hedging gain (loss) Revenue 7,714 138 - - - 7,852 PPA impacts - other business combinations Consolidated revenue Hedge accounting Business combinations Adjusted revenue Re-measurement of revenue Amortization of intangible assets - Sagem/Snecma 9m 2025 (In Euro million) Deferred hedging gain (loss) Revenue 22,579 42 - - - 22,621 Re-measurement of revenue Amortization of intangible assets - Sagem/Snecma PPA impacts - other business combinations Consolidated revenue Hedge accounting Business combinations Adjusted revenue
Page 14
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 14 Quantity of products delivered on major aerospace programs – Q3 SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 Units % Units % LEAP engines 365 511 146 40% A320 landing gear sets 142 166 24 17% CFM56 engines 13 15 2 15% A320neo nacelles 159 186 27 17% High thrust engines 51 55 4 8% A320 emergency slides 1,256 1,186 (70) (6)% Helicopter engines 181 192 11 6% A330neo nacelles 13 14 1 8% M88 engines 10 7 (3) (30)% A350 landing gear sets 11 9 (2) (18)% A350 lavatories 139 126 (13) (9)% 787 landing gear sets 14 18 4 29% 787 primary power distribution systems 86 97 11 13% Small nacelles (bizjet & regional jets) 169 195 26 15% Business class seats 592 428 (164) (28)% Number of units delivered Q3'24 Q3'25 YoY change Number of units delivered Q3'24 Q3'25 YoY change
Page 15
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 15 Units % Units % LEAP engines 1,029 1,240 211 21% A320 landing gear sets 446 486 40 9% CFM56 engines 41 41 - - A320neo nacelles 456 493 37 8% High thrust engines 142 162 20 14% A320 emergency slides 3,218 3,318 100 3% Helicopter engines 486 520 34 7% A330neo nacelles 42 50 8 19% M88 engines 24 17 (7) (29)% A350 landing gear sets 37 32 (5) (14)% A350 lavatories 332 289 (43) (13)% 787 landing gear sets 34 48 14 41% 787 primary power distribution systems 255 290 35 14% Small nacelles (bizjet & regional jets) 565 556 (9) (2)% Business class seats 1,342 1,666 324 24% 9m'25 YoY change Number of units delivered 9m'24 9m'25 YoY change Number of units delivered 9m'24 Quantity of products delivered on major aerospace programs – 9m SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025
Page 16
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 16 OE / Services revenue split SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025 OE Services OE Services Propulsion 1,137 2,202 1,459 2,585 % of revenue 34.1% 65.9% 36.1% 63.9% Equipment & Defense 1,507 1,020 1,818 1,186 % of revenue 59.6% 40.4% 60.5% 39.5% Aircraft Interiors(1) 487 284 503 299 % of revenue 63.2% 36.8% 62.7% 37.3% Q3 2024 Q3 2025REVENUE Adjusted data (in €M) OE Services OE Services Propulsion 3,568 6,232 4,083 7,503 % of revenue 36.4% 63.6% 35.2% 64.8% Equipment & Defense 4,659 3,038 5,181 3,431 % of revenue 60.5% 39.5% 60.2% 39.8% Aircraft Interiors(1) 1,367 815 1,503 915 % of revenue 62.6% 37.4% 62.2% 37.8% REVENUE Adjusted data (in €M) 9m 2024 9m 2025
Page 17
This document and the information therein are the property of Safran. They must not be copied or communicated to a third part y without the prior written authorization of Safran 17 ▪ Spare parts (expressed in $) ▪ This non-accounting indicator (non-audited) comprises “Spare parts” revenue (in USD terms) for all civil aircraft engines (CFM56, LEAP , high-thrust engines) ▪ Services (expressed in $) ▪ This non-accounting indicator (non-audited) comprises “Services” revenue (in USD terms) for all civil aircraft engines (CFM56, LEAP , high-thrust engines; RPFH and internal T&M) Definitions SAFRAN - Q3 & 9m 2025 Revenue / October 24, 2025