Tecnicas Reunidas S.A.

Investor Presentation • May 14, 2025

Juan Lladó – Executive Chairman Eduardo San Miguel - CEO

1 | 3 | Pipeline and main awards 2 | Q1 2025 highlights

New growth areas

Financial results

Final remarks

5 |

INDEX

1 | 3 | New growth areas Pipeline and main awards 2 | Q1 2025 highlights

Financial results 5 | 4 | Final remarks

Q1 2025 highlights

Order Intake EUR 3.7 billion

4.3%

Backlog EUR 14.9 billion

Robust Sales performance EUR 1,307 million

Solid Net Cash position EUR 423 million

Steady EBIT margin growth

Q1 2025 highlights

1 |

5 |

• Pipeline and main awards 2 |
• 3 | New growth areas
  • Financial results
  • Final remarks

Record backlog driven by strong investment cycle

Lower Zakum

UAE

3.3 B€ Amount

Adnoc Offshore Client

Key features

• TR sole contractor
• Strategic project for ADNOC
• Schedule: 5 years
• Engineering man-hours: 1 million
• Madrid´s Engineering Hub will lead the project supported by India and UAE engineering centers
• Maximization of modular design

Robust pipeline ahead of us

24-month pipeline by geographies

Total Commercial Pipeline

66.2 B€

Decarbonization projects pipeline

12.9 B€ 2.0 B€ EPC track & Services

The world´s energy structure is changing and TR is prepared to be part of it

Promising growth

for the future

• Traditional energy sources leading to new growth US Our clients in

• Relevant investments planned related to Upstream, Midstream and LNG developments
• Unprecedent opportunities tied to Power Generation and Data Centers
• Blue ammonia investments are on track: TR is already there
• TR´s strategic relationships with US clients and construction partners will drive future growth in the region
• 10.2 B€ pipeline in US

North America

The world´s energy structure is changing and TR is prepared to be part of it

Power

A short-term opportunity for TR

• Power Generation developments have turned into a key driver for the world´s energy structure
• TR has strategic partnerships with all four OEMs
• Strong presence in the regions where electrification demand is booming (Middle East, Europe and North America)
• Electrification is a reliable path for decarbonization, bringing additional opportunities for TR
• 13 GW currently under execution and over 12 B€ pipeline for the next 24 months

The world´s energy structure is changing and TR is prepared to be part of it

Energy transition

here to stay

• TR & track are already well positioned to become a prominent actor in the products and regions where decarbonization is going to take place

• Energy Transition developments will gradually become a reality: TR is currently working on a 15 B€ decarbonization pipeline

MoU

with BBVA Collaboration framework to promote projects linked to the decarbonization of the economy

BBVA and track will jointly collaborate:

• o in the identification of new growth opportunities
• o in the search for financing

BBVA has identified decarbonization and clean technologies as two of the priority areas for investment setting a sustainable business pipeline target of 700 B€ from 2025 to 2029

1 | Pipeline and main awards 2 | Q1 2025 highlights

3 | New growth areas

Financial results 4 |

Final remarks

Sales, M€

Sales speed up as backlog execution accelerates

Operating margin gradually improving as new projects' profitability starts to contribute

Balance sheet

Net cash position, M€

2023 2024 Q1 2025

Equity, M€

1 | Q1 2025 highlights

• Pipeline and main awards
• New growth areas
• Financial results
• 5 | Final remarks

3 |

2 |

Final remarks

• Solid backlog provides high sales visibility
• Consistent delivery reinforces margin expansion

2025	Revenues >5,200 M€
Guidance	EBIT margin ~4.5%

TR's ambition towards 2026

EBIT margin >5% Revenues >5,500 M€ Back to dividend policy with 2026 results

Final remarks

• Solid backlog provides high sales visibility
• Consistent delivery reinforces margin expansion