Slides
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1 Accelerating growth and improved profitability Arcadis Q3 2026 Trading Update 28 October 2026
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2 Heather Polinsky Chief Executive Officer PART 1 Trading Update Arcadis Q3 2026 Trading Update
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3 Arcadis Q3 2026 Trading Update Arcadis Reset translating into performance. Focus. Simplify. Perform. • Growth accelerating in the markets where we chose to focus • Disciplined execution driving margin improvement and strong cash performance • Portfolio, cost and organizational actions progressing at pace • Backlog growth supporting continued momentum • 2026 guidance reaffirmed Key messages © Arcadis 2026 | Arcadis Q3 2026 Trading Update
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Growth acceleration with improved profitability 4 Arcadis Q3 2026 Trading Update 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. 2 EBITA excluding restructuring, integration, acquisition & divestment costs. Note: Operating EBITDA margin for Q3’26: 15.0% (Q3’25: 14.1%) Third Quarter Results Net Revenues Organic growth, yoy €991M4.3% © Arcadis 2026 | Arcadis Q3 2026 Trading Update Op. EBITA Margin 12.5% Backlog Organic growth, yoy 7.9% 2 11.6% 12.5% Q3'25 Q3'26 €3.9B Voluntary Turnover 10.7% Q3’25: 10.9% 1 1
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Strong order intake drives continued backlog growth 5 1.6% 2.7% 4.5% 6.7% 7.9% Backlog Organic Growth 3,935 3,900 3,930 4,053 4,177 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 12-month rolling Order Intake 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. 12-month rolling Order Intake and Backlog Organic Growth yoy1 € million, % Backlog Growth per GBA, yoy1 Order intake highlights Resilience • Strong activity in Water across the US and Netherlands, Power in Germany, and Mining & Critical Minerals in Brazil Places • Major semiconductor awards • Architecture within Real Estate & Development in Canada remained challenging Mobility • Order intake reflected the timing and outcomes of major project awards • Pipeline remains healthy, with continued focus on disciplined conversion Arcadis Q3 2026 Trading Update Third Quarter Results 13.4% Resilience 10.3% Places -2.1% Mobility © Arcadis 2026 | Arcadis Q3 2026 Trading Update
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Backlog momentum translating into revenue growth 6 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. Net Revenue and Organic Growth yoy1 € million, % Arcadis Q3 2026 Trading Update Third Quarter Results © Arcadis 2026 | Arcadis Q3 2026 Trading Update 1.0% -2.9% 0.8% 2.2% 4.3% 936 887 933 974 991 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Recent project win Deliver advisory and design services for client’s strategic rail review, supporting projects to decarbonize transport, enhance connectivity and accessibility, and develop an integrated transport system Client: Irish Rail | Ireland
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Resilience – Solid growth in Energy and Water 7 Arcadis Q3 2026 Trading Update Third Quarter 2026 Performance • Strong Water performance across US, UK and NL • US Water driving revenues • UK water growth with Key Clients ramping up investment programs • Major grid-expansion programs continued to drive Power growth in Germany • Mining & Critical Minerals contributed to strong growth in Brazil • Major environmental remediation wins in Europe 5.6% Net Revenues organic growth yoy1 1.0x Book-to-Bill2 Recent project win Supporting a multi-year environmental remediation program addressing historical PFAS contamination near the Zwijndrecht site Client: 3M | Belgium 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. 2 Book-to-bill: order intake / net revenues © Arcadis 2026 | Arcadis Q3 2026 Trading Update Resilience | 38% of total Net Revenues
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Places – Semiconductor awards driving improving order intake 8 Arcadis Q3 2026 Trading Update Third Quarter 2026 Performance • Places excluding Architecture, China and other non-core activities organic revenue growth acceleration: 4.2% • Continued growth in Life Sciences and Digital Infrastructure across US, Europe, UK & Ireland • Major Semiconductor wins driving order intake • Continued portfolio focus and investment in attractive sectors 1.2% Net Revenues organic growth yoy1 1.3x Book-to-Bill2 Recent project win Expanded engineering, procurement and construction scope for a major high-volume semiconductor manufacturing expansion in the US Client: Semiconductor Client | US Contract value: €82M © Arcadis 2026 | Arcadis Q3 2026 Trading Update 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. 2 Book-to-bill: order intake / net revenues Places | 35% of total Net Revenues
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Mobility – Growth, with continued focus on pipeline conversion 9 Third Quarter 2026 Performance • Strong organic growth supported by major transportation programs in Germany and Canada and contract variations agreed in the quarter • Order intake reflected timing of pursuits • Pipeline remains healthy across key markets, with focus on disciplined conversion • Aligning capacity with expected workload to improve billability, delivery performance and profitable growth 6.7% Net Revenues organic growth yoy1 0.7x Book-to-Bill2 Recent project win Delivering multidisciplinary services for a major rail hub on the Munich–Berlin network, spanning rail infrastructure, civil structures, overhead-line systems and electrical installations Client: Deutsche Bahn | Germany Arcadis Q3 2026 Trading Update © Arcadis 2026 | Arcadis Q3 2026 Trading Update 1 Underlying growth excluding impact of FX, acquisitions, footprint reductions, wind-downs or divestments. 2 Book-to-bill: order intake / net revenues Mobility | 27% of total Net Revenues
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10 Simon Crowe Chief Finance Officer PART 2 Financial Results Arcadis Q3 2026 Trading Update
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Margin progression supported by cost discipline 11 1 EBITA excluding restructuring, integration, acquisition & divestment costs Note: Operating EBITDA margin for Q3’26: 15.0% (Q3’25: 14.1%) Quarterly operating EBITA margin1 Margin highlights • Strong quarterly margin of 12.5%, reflecting: • Continued good execution in Energy & Water in Resilience • Improvement in Places following cost actions taken in H1’26 • Contract variations driving growth and margin in Mobility • Lower overhead staff costs and continuing cost discipline • Growth and a more scalable cost base supported operating leverage • Continued investment in the operating model, growth, digital capabilities and AI Arcadis Q3 2026 Trading Update Financial Results © Arcadis 2026 | Arcadis Q3 2026 Trading Update 11.6% 10.8% 11.0% 11.4% 12.5% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26
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Strong cash generation with continued working-capital discipline 12 1 Free Cash Flow = Cash flow from operating activities corrected for capex and lease liabilities 2 Leverage = Net Debt / Operating EBITDA Free Cash Flow1) € millions 80 344 -149 0 131 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Days Sales Outstanding and Net Working Capital % Days, % 73 55 64 66 65 14.0% 8.3% 12.1% 12.2% 12.4% Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 • Cash performance reflects normal seasonality and continued execution on working capital • Net working capital % improved by 160bps yoy • Continued focus on billing, cash collection and contract terms © Arcadis 2026 | Arcadis Q3 2026 Trading Update Arcadis Q3 2026 Trading Update Financial Performance
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Divest the majority of the Architecture business Exit China operations Review other non-core activities Indicative impact of businesses to be divested on total Arcadis 9M 2026 13 Rightsize overhead Progress on strategic actions announced at Capital Markets Day Arcadis Q3 2026 Trading Update Arcadis Reset ~100bps on operating EBITA margin ~150-200 bps on organic net revenue growth Progress update: Transaction preparation and separation planning underway Implementation of the agreed exit pathway progressing, subject to legal and execution requirements Strategic review ongoing Rightsizing actions continuing Actions announced: © Arcadis 2026 | Arcadis Q3 2026 Trading Update For design
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Actions implemented and underway • Continued business and overhead rightsizing: 900 roles affected in 9M’26 • Implementation of the simpler, client-centric operating model • Related advisory and implementation activity Driving operational improvement • Lower and more scalable cost base • Improved billability, accountability and resource alignment • Greater transparency through the new operating model • 40–50 bps FY26 operating EBITA margin benefit from the cost-out program Cost actions progressing towards completion of the reset in 2027 © Arcadis 2026 | Arcadis Q3 2026 Trading Update Non-operating costs € millions 15 42 9M'26 Arcadis Q3 2026 Trading Update Arcadis Reset Restructuring Other non-operating 57 14 For design Plans for Q4 and 2027 • Q4’26: Continue overhead and business rightsizing • 2026FY restructuring: €60M - €70M • 2027: Reset measures expected to be completed by year-end. Overhead rightsizing: ~1,000 roles with €70M restructuring
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15 PART 3 Wrap Up Heather Polinsky Chief Executive Officer Arcadis Q3 2026 Trading Update
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16© Arcadis 2026 | Arcadis Q3 2026 Trading Update Arcadis Q3 2026 Trading Update Wrap-up Momentum built for sustained execution • Closer to clients, driving more consistent growth and profitability • Accelerating growth while continuing to invest in transformation • A renewed leadership team aligned around a clear strategy and accountable for delivery • Deeper client insight sharpening our commercial priorities • 34,000 Arcadians mobilizing around a stronger execution cadence
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17 PART 4 Q&A Arcadis Q3 2026 Trading Update
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18 Appendix Arcadis Q3 2026 Trading Update
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Transportation Power & water Industrial Manuf. & Tech Real Estate & Development 19 2025 Net Revenue Industries split Appendix From Global Business Areas to Industries 2025 Net Revenue Bridge > Global Business Areas to Industries Resilience Places Mobility Grand Total 6% 64% 14% 16% 6% 4% 45% 45% 86% 3% 0% 10% 27% 26% 21% 26% 100% 100% 100% 100% © Arcadis 2026 | Arcadis Q3 2026 Trading Update
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20 Quarterly trend in free cash flow, net debt and net working capital 208 -97 8 134 183 -138 2 80 344 -149 0 131 873 963 1,016 886 739 920 1,039 978 797 974 1,042 910 9.3% 11.6% 12.7% 12.7% 10.8% 12.9% 13.4% 14.0% 8.3% 12.1% 12.2% 12.4% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Free Cash FlowNWC% Net Debt © Arcadis 2026 | Arcadis Q3 2026 Trading Update Appendix
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Reaffirming 2026 margin and net revenue organic growth guidance1 21 Low-single digit 11.7%-12.0% Maintained 2026 Organic net revenue growth 2026 Operating EBITA margin Maintained © Arcadis 2026 | Arcadis Q3 2026 Trading Update Appendix 1 Guidance is presented on the current reported perimeter and therefore includes China, the majority of the Architecture business and other non-core activities currently under strategic review while these businesses remain part of Arcadis’ reported results.
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Statements included in this presentation that are not historical facts (including any statements concerning investment objectives, other plans and objectives of management for future operations or economic performance, or assumptions or forecasts related there to) are forward - looking statements. These statements are only predictions and are not guarantees. Actual events or the results of our operations could differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements are typically identified by the use of terms such as “may,” “will”, “should”, “expect”, “could”, “intend”, “plan”, “anticipate”, “estimate”, “believe”, “continue”, “predict”, “potential” or the negative of such terms and other comparable terminology. The forward-looking statements are based upon our current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Although we believe that the expectations reflected in such forward-looking statements are based on reasonable assumptions, our actual results and performance could differ materially from those set forth in the forward-looking statements. Disclaimer 22© Arcadis 2026 | Arcadis Q3 2026 Trading Update