Slides
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Consolidated financial results January - September 2025
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Disclaimer / Legal Notice The information contained in this results presentation has been prepared by the Elecnor Group and includes financial information extracted from the accounts of Elecnor, S.A. and its subsidiaries for the period ended 30 th September 2025, audited by PricewaterhouseCoopers Auditores, S.L., as well as statements regarding future forecasts. The information and statements regarding future forecasts about the Elecnor Group do not constitute historical facts; they are based on numerous assumptions and are subject to risks and uncertainties, many of which are difficult to predict and are, in general, beyond the control of the Elecnor Group. Accordingly, shareholders and investors are warned that these risks could cause actual results and developments to differ significantly from those expressed, implied, or projected in the information and future forecasts. Except for the financial information referred to, the information and any opinions or statements contained in this document have not been verified by independent third parties and, therefore, no implicit or explicit warranty is given as to the impartiality, accuracy, completeness, or correctness of the information or of the opinions and statements expressed herein. This document does not constitute an offer or invitation to acquire or subscribe for shares, in accordance with Royal Legislative Decree 4/2015 of 23 October, approving the consolidated text of the Securities Market Act and its implementing regulations. Likewise, this document does not constitute an offer to buy, sell, or exchange, nor a solicitation of an offer to buy, sell, or exchange securities, nor a solicitation of any vote or approval in any other jurisdiction.
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Elecnor Group at a glance Index Business segments Services Projects Concessions and own projects Elecnor Group in the stock market 01 02 03 Forecast for 2025 04 ESG Commitment Appendices 05 06
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Elecnor Group at a glance Results January – September 2025
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80.8M€ 185.4M€ 3,150.2M€ 2,863.9M€ Consolidated results: key figures Net profit +120.6% EBITDA +96.4% Turnover +18.1% +5.7%* * Compared to the end of 2024 Production pipeline
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Services 1,689,559 1,558,967 8.4% Projects 1,450,975 1,123,382 29.2% Group management and other adjustments 5,967 - - Operations between segments 3,731 (14,919) 125.0% Total 3,150,232 2,667,430 18.1% Turnover 3,150.2M€ Change 9M 2024 +18.1% Distribution by bussines segments 46.2% 53.8% Projects Services 0 10 20 30 40 50 60
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Services 100,882 65,570 53.9 % Projects 88,255 51,904 70.0 % Concessions and own projects: Celeo* 13,733 11,198 22.6 % Development and investment (3,016) (977) (208.7) % Group Management and other adjustments (18,208) (32,995) 44.8 % Operations between segments 3,731 (290) 1,386.6 % Total 185,377 94,410 96.4 % EBITDA 185.4M€ Change 9M 2024 +96.4% Distribution by bussines segments * The 100% Celeo Group EBITDA is 155.3 million euros. Notwithstanding, given that it is consolidated in the Group’s accounts using the Equity Method, the EBITDA contributed to the Group coincides with the consolidated net profit attributable to the Group (13.7 million euros). 5.3% 44.2% 50.5% Concessions and own projects Projects Services
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Services 41,595 21,520 93.3% Projects 35,820 26,904 33.1% Concessions and own projects: Celeo 13,733 11,198 22.6% Development and investment (2,536) (445) (469.9)% Group Management and other adjustments (10,932) (22,140) 50.6% Operations between segments 3,124 (410) 862.0% Total 80,804 36,627 120.6% Net profit 80.8M€ Change 9M 2024 +120.6% Distribution by bussines segments 12.6% 40.5% 46.9% Concessions and own projects Projects Services 0 10 20 30 40 50
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42%58% Key operating figures 5.7% 2,863.9 M€ ServicesProjects Production pipeline that can be executed in the next 12 months * Compared to the end of 2024
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Business segments Results January – September 2025
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Services · Projects · Concessions and own projects Business overview The new organisation has split major company activities into three segments for which the three Group's General Directorates are responsible. These segments are managed and their targets defined separately.
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Turnover 1,689,559 1,558,967 8.4% Domestic 1,185,652 1,085,756 9.2% International 503,907 473,211 6.5% EBITDA 100,882 65,570 53.9% EBITDA Margin / Turnover 6.0% 4.2% Profit before tax 58,179 43,491 33.8% Attributable consolidated net profit 41,595 21,520 93.3% Services The Group's Services segment showed solid and steady growth in the first nine months of the year, posting turnover of Euros 1,689.6 million. This implies an increase of 8.4% compared to the same period last year. In the domestic market, activity continued to grow on the back of the essential services developed for the electricity, telecommunications, water, gas and energy transmission and distribution sectors, where it provides an essential service for all utilities. It is worth highlighting the maintenance activity carried out for both the public and private sectors, as well as self-consumption and energy efficiency initiatives. This segment integrates energy distribution, telecommunications, maintenance and installation services in this segment: services which are essential to generating change and driving societal well-being. In the international market, Elecnor's distribution and telecommunications contracts in Italy have contributed significantly to this segment's performance, as have the results of its US subsidiaries. EBITDA in the Services segment amounted to Euros 100.9 million as at 30 September this year, representing a 53.9% increase on the same period of the previous year, and reflecting the excellent performance of this business area. The EBITDA margin on sales for the period is 6% in this business segment. The attributable consolidated net profit in this segment amounted to Euros 41.6 million at 30 September this year, an increase of 93.3% compared to the first nine months of the previous year. 29.8% 70.2% International Domestic 0 10 20 30 40 50 60 70 80 Sales by geographic area
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Turnover 1,450,975 1,123,382 29.2% Domestic 118,298 116,872 1.2% International 1,332,677 1,006,510 32.4% EBITDA 88,255 51,904 70.0% EBITDA Margin / Turnover 6.1% 4.6% Profit before tax 52,898 39,869 32.7% Attributable consolidated net profit 35,820 26,904 33.1% 91.8% 8.2% International Domestic 0 20 40 60 80 100 Projects The Projects segment has shown a solid performance in the first nine months of the year, with turnover reaching Euros 1,451.0 million, an increase of 29.2% compared to the same period of the previous year. This growth was driven by activity in both the domestic and international markets. In the domestic market, the increase in turnover and profit/loss in this segment is mainly attributable to the construction projects for electricity infrastructure and renewable energy parks. This segment comprises the development, construction, operation and maintenance of clean energy generation and transmission infrastructure worldwide, improving the living conditions of communities and enhancing sustainable development. The international market continues to be a key pillar in this segment. Projects underway in Australia, Brazil and Chile (especially power transmission lines and renewable energies) stand out. The construction of substations and transmission lines in Angola, Senegal, Mozambique, the United Kingdom and Ireland; photovoltaic parks in the Dominican Republic and wind farms in Mauritania, among many other projects, have also contributed significantly. The profitability of the segment has also experienced remarkable growth. EBITDA in the period amounted to Euros 88.3 million, i.e. 70.0% higher than in the same period of the previous year. The EBITDA margin on sales for the period is 6.1% in this business segment. Attributable consolidated net profit was Euros 35.8 million, increasing by 33.1% on the same period of the previous year. Sales by geographic area
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(thousands of Euros) 9M 2025 9M 2024 Change (%) Turnover 222,609 217,517 2.3% EBITDA 155,259 145,400 6.8% Profit before tax 51,127 55,568 (8.0%) Income tax (18,608) (24,283) 23.4% Profit/loss for the businesses attributable to non-controlling interests (6,694) (8,165) 18.0% Attributable consolidated net profit 25,825 23,120 11.7% Consolidated net profit attributable to the Elecnor Group 13,733 11,198 22.6% Concessions and own projects Celeo, a company owned and managed jointly with APG owned 51%, one of the world’s largest pension funds. Overall, it managed around Euros 6,000 million assets in operation at the close of last year. Celeo (figures at 100%) Electricity transmission lines in Chile, Brazil, and Peru, in operation and under construction (same as at the end of 2024) 7.942 km Renewable energy (photovoltaic and solar thermal) in Spain and Brazil (same as at the end of 2024) 345 MW
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(thousands of Euros) 9M 2025 9M 2024 Change (%) EBITDA (3,016) (977) (208.7%) Profit before tax (2,798) (676) (313.9%) Attributable consolidated net profit (2,536) (445) (469.9%) The sale of Enerfín has not affected the Elecnor Group strategy of generating long-term value through developing and investing in new businesses, selecting high added value geographical locations and technologies and seeking unique, high return opportunities both on domestic and international markets. Development and investment Concessions and own projects
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Elecnor Group in the stock market Results January – September 2025
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Elecnor IBEX Medium CAP Jan 25 Oct 25Feb 25 Mar 25 Apr 25 May 25 Jun 25 Jul 25 Aug 25 Sep 25 +73.64% +16.16% Comparative evolution of the share Price in 2025
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Share Price performance 9M 2025 9M 2024 Closing share Price (€) 24.25 18.88 Total volumen of securities (millions) 23.9 6.2 Total cash traded (millions €) 498.0 120.4 Number of shares (millions) 87 87 Market capitalisation (millions €) 2,109.8 1,642.6
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Treasury Stock 3% Board of Directors 2% Others 42% Cantiles XXI, S.L. 53% 2023 2024 Sep-25 0 500.000 1.000.000 1.500.000 2.000.000 2.500.000 Shareholding structure Shareholding structure and Tresuary Stock Treasury Stock Number of shares 2,300,068 2,307,253 2,229,529
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2019 2020 29 2021 2022 2023 29 31 37 39 On 11 June 2025, a complementary dividend of €265 million was paid. Combined with the interim dividend distributed in December 2024, this amounts to a total payout of €805 million against the 2024 earnings. 805 2024 Accumulated dividend 2019-2023 Dividends always distributed in cash Average 165 Million Euros 33 Million Euros Figures in million euros Distributed dividend
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Forecast for 2025 Results January – September 2025
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Forecast for 2025 The Elecnor Group's activities will benefit from the three major trends that are expected to drive global economic development: The solid portfolio of contracts and the current market situation, in which organisations with Elecnor's capabilities and distinctiveness are in high demand, will allow the Group to continue strengthening its leadership position and profitability in 2025, in line with its new Strategic Plan, and see it increase continuing operation returns on last year’s figures. Urbanisation and digitalisation Energy transition and electrification of the economy Urbanization and digitalization of the society Enviromental and social sustainability
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ESG Commitment Results January – September 2025
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Responsible management Commited to the environmentFocusedon people Climate leadership in the CDP rating, forming part of the “A List” Validation of emission reduction targets by SBTi Reduction of the carbon footprint Promotion and development of renewable energy projects Biodiversity management and environmental protection in all projects Compliance System aligned with the highest international standards Certification of the Social Responsibility Management System according to IQNetSR10 Supply chain aligned with the Group’s sustainability standards Certified Integrated Management System Ethical and responsible management of the entire Group value chain Health and safety at the core of the business Improvement in accident rates Operational excellence: increased customer satisfaction Continuous growth of the workforce Promotion of equality and opportunities for all A sustainable value. ESG Commitment UNE-ISO 37001 ANTI-BRIBERY MANAGEMENT SYSTEMS STANDARD UNE 19601 CRIMINAL COMPLIANCE MANAGEMENT SYSTEMS STANDARD UNE 19603 COMPLIANCE MANAGEMENT SYSTEMS IN ANTITRUST MATTERS
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Appendices Results January – September 2025
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Results January – September 2025 Celeo projects 31/12/2024 (*) Excluding IFRS and IFRIC 12 (EBITDA excluding IFRIC 12 impact best reflects the cash flow generation capacity of each project) (**) % Attributed to Elecnor Group (1) Operational project vehicle companies (2) Holding companies
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Results January – September 2025 Celeo projects 31/12/2023 (*) Excluding IFRS and IFRIC 12 (EBITDA excluding IFRIC 12 impact best reflects the cash flow generation capacity of each project) (**) % Attributed to Elecnor Group (1) Operational project vehicle companies. (2) Holding companies. 2023 Celeo (Concessions and own projects) EBITDA (*) Gross debt Cash Net debt Km Mw % part. (**) TRANSMISSION BRAZIL Celeo Redes Transmissao de Energía,S.A. (2) 26.486 66.354 10.958 55.396 - - 51% 26.486 66.354 10.958 55.396 0 0 Lt Triangulo,S.A (1) 18.717 — 3.068 (3.068) 694 - 51% Vila Do Conde Transmissora De Energia SA (1) 9.045 — 5.843 (5.843) 324 - 51% Pedras Transmissora De Energía, S.A. (1) 2.958 246 1.361 (1.115) 354 - 51% Coqueiros Transmissora De Energía, S.A. (1) 1.187 197 884 (687) 453 - 51% Encruzo Novo Transmissora De Energia,S.A. (1) 2.695 2.432 1.020 1.412 220 - 51% Linha De Transmissao Corumba,S.A. (1) 5.326 4.786 2.464 2.322 278 - 51% Integraçao Maranhense Tranmissora De Energia,S.A. (1) 8.176 7.640 2.687 4.953 365 - 26% Caiua Transmissora De Energia,S.A. (1) 4.419 5.426 4.387 1.039 141 - 26% Cantareira Transmissora De Energía,S.A. (1) 23.238 84.631 11.992 72.639 342 - 26% Serra De Ibiapa Transmissora de Energía,S.A. - SITE (1) 18.332 168.531 13.206 155.325 367 - 51% Brilhante Transmissora De Energia SA (1) 9.531 32.715 5.263 27.452 582 - 51% Jauru Transmissora De Energia,S.A. (1) 12.625 20.245 5.186 15.059 938 - 34% Cachoeira Paulista Transmissora De Energía,S.A. (1) 11.007 42.757 17.197 25.560 182 - 25,50% Parintins Amazonas Transmissora de Energía,S.A. (1) 16.654 191.570 2.477 189.093 225 - 25,50% 143.910 561.176 77.035 484.141 5.465 0 TRANSMISSION CHILE Celeo Redes Operación Chile,S.A. (2) 22.217 476.867 19.400 457.467 - - 51% CRC Transmisión, SPA (2) 17.264 237.581 10.872 226.709 - - 25,50% 39.481 714.448 30.272 684.176 - - Nirivilo Transmisora de Energía,S.A. (1) (97) — 46 (46) 73 - 51% Alto Jahuel Transmisora de Energia,S.A. (1) 26.720 — 1.947 (1.947) 257 - 51% Charrua Transmisora De Energia,S.A. (1) 18.121 — 1.755 (1.755) 198 - 51% Casablanca Transmisora de Energía,S.A. (1) 1.412 3.877 7.650 (3.773) 110 - 25,50% Mataquito Transmisora de Energía,S.A. (1) 1.384 141 612 (471) 394 - 25,50% Diego de Almagro Transmisora de Energía,S.A (1) 8.803 — 999 (999) 57 - 25,50% Celeo Redes Chile Expansión,SPA (1) 1.571 21.741 414 21.327 - - 51% Alfa Transmisora de Energía,S.A. (1) 76.771 943.531 35.547 907.984 948 - 10,20% Transquillota Electrica de Quillota Limitada (1) 1.662 — 174 (174) 8 - 10,20% 136.347 969.290 49.144 920.146 2.045 - TRANSMISSION PERU Puerto Maldonado Transmisora de Energía,S.A.C. (1) (209) 24.177 1.981 22.196 432 - 51% (209) 24.177 1.981 22.196 432 - TRANSMISSION SPAIN Celeo Redes,S.L (2) 28.614 4.264 700 3.564 - - 51% 28.614 4.264 700 3.564 - - RENEWABLE ENERGIES SPAIN Celeo Fotovoltaico, S.L.U. (1) 5.135 29.423 3.322 26.101 - 15 51% Dioxipe Solar, S.L. (1) 18.468 155.170 8.743 146.427 - 50 49,76% Aries Solar Termoelectrica, S.L. (1) 38.049 311.133 9.641 301.492 - 100 51% RENEWABLE ENERGIES BRAZIL Celeo Sao Joao Do Piaui FV I,S.A.(6) (1) 5.272 68.429 4.133 64.296 - 180 51% 66.924 564.155 25.839 538.316 - 345 OTHERS (2) 70.615 — 78.181 — - - 70.615 — 78.181 — - - TOTAL 512.168 2.903.864 274.110 2.707.935 7.942 345 2023 Celeo (Concessions and own projects) EBITDA (*) Gross debt Cash Net debt Km Mw % part. (**)
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