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RNS - FINCANTIERI Contract Signed for In-Service Support of FREMM Frigates: “THROUGH LIFE SUSTAINMENT MANAGEMENT (TLSM) 2” between Orizzonte Sistemi Navali and OCCAR

Company: Fincantieri Date: 2025-06-24 Language: English Register to download
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| Informazione<br>Regolamentata n.<br>1616-69-2025 | Data/Ora Inizio Diffusione<br>24 Giugno 2025 16:06:08 |                                                                                                                                                                          | Euronext Milan |
|--------------------------------------------------|-------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------|
| Societa'                                         | :                                                     | FINCANTIERI                                                                                                                                                              |                |
| Identificativo Informazione<br>Regolamentata     | :                                                     | 207266                                                                                                                                                                   |                |
| Utenza - referente                               | :                                                     | FINCANTIERIN12 - Dado Giuseppe                                                                                                                                           |                |
| Tipologia                                        | :                                                     | 2.2                                                                                                                                                                      |                |
| Data/Ora Ricezione                               | :<br>24 Giugno 2025 16:06:08                          |                                                                                                                                                                          |                |
| Data/Ora Inizio Diffusione                       | :                                                     | 24 Giugno 2025 16:06:08                                                                                                                                                  |                |
| Oggetto                                          | :                                                     | FINCANTIERI Contract Signed for In-Service<br>Support of FREMM Frigates: "THROUGH LIFE<br>SUSTAINMENT MANAGEMENT (TLSM) 2"<br>between Orizzonte Sistemi Navali and OCCAR |                |

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# **Contract Signed for In-Service Support of FREMM Frigates: "THROUGH LIFE SUSTAINMENT MANAGEMENT (TLSM) 2" between Orizzonte Sistemi Navali and OCCAR**

**Taranto, June 24, 2025** – Orizzonte Sistemi Navali (OSN), the joint venture owned by Fincantieri and Leonardo with respective stakes of 51% and 49% has signed the Through Life Sustainment Management (TLSM 2) in-service support contract with OCCAR (*Organisation for Joint Armament Cooperation)*. This marks the continuation of a long-standing strategic collaboration that began with the delivery of the first FREMM-class frigates and their related logistical support. TLSM2 is an in-service support contract for all systems and equipments on FREMM units built and delivered by OSN to the Italian Navy.

The agreement, signed by Giovanni Sorrentino, CEO of Orizzonte Sistemi Navali, and Joachim Sucker, Director of OCCAR, is valued at approximately €764 million (of which around €335 million is optional). Concurrently, sub- contracts are being finalized with Fincantieri and Leonardo, worth approximately 265 million euros (with about 130 million euros in options) and 190 million euros (about 78 million euros in options), respectively, alongside other sector players including MBDA, Elettronica, and TMDS.

This contract represents a major step forward in enhancing the FREMM fleet's operational readiness and maintenance capabilities - a technological benchmark for the Italian Navy. Other industrial partners involved include MBDA, Elettronica, and several small and mediumsized enterprises from Italy's naval and electronics sectors.

With a duration of five and a half years, TLSM2 introduces an increasingly integrated and innovative model of cooperation among national and foreign industry players, and the Italian Navy, aimed at optimizing the efficiency and resilience of the national logistics system.

A key element of the program is the integration of industry and its personnel into the Navy's processes, information systems, and facilities, with a particular focus on improving materials management and preventive maintenance planning. In this context, the consistent use of the Navy's digital platforms for service execution and reporting and the support of the navy personnel too is also essential.

Engineering support also plays a central role in the program, with the goal of optimizing the overall naval support system, including onshore-based activities or specific structural interventions. Major maintenance will be scheduled and carried out during planned unit downtimes, ensuring fleet availability and minimizing operational impact.

The renewal of the TLSM contract confirms the close collaboration among OSN, Fincantieri, Leonardo, OCCAR, and the Italian Navy, underscoring shared values of technological excellence, long-term operational sustainability, and national capability development.

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**Pierroberto Folgiero, CEO and Managing Director of Fincantieri, commented**: "*After-sales support has become as strategically important as shipbuilding itself. It is a key factor in ensuring the long-term operational continuity and effectiveness of naval assets. In this area, a strong synergy has developed between the Italian Navy and Fincantieri—a relationship built on structured, ongoing collaboration and mutual trust, which now stands out as a hallmark of Italy's industrial system. For this reason, Fincantieri is decisively investing in strengthening its after-sales service offering, creating a dedicated business line that the company is increasingly promoting at the international level."*

**Carlo Gualdaroni, Co-General Manager Business of Leonardo and Chairman of Orizzonte Sistemi Navali, stated,** *"This programme illustrates our commitment to designing and supplying high-tech integrated solutions and capabilities for naval applications as well as – together with our partners – ensuring a constant presence in support of the Italian Navy's operations, leveraging innovative and modern services. Delivering these services guarantees the operator can make the most of the advanced technologies on the field. We will continue to work in synergy with the Italian Navy, according to the principles of efficiency and effectiveness."*

**Giovanni Sorrentino**, **CEO of Orizzonte Sistemi Navali, stated:** *"The signing of this contract represents a key milestone in strengthening both the operational capability and long-term sustainability of our naval units. It reflects a shared vision between the Armed Forces and industry, focused on ensuring efficiency, innovation, and continuity in logistical support. This achievement highlights the importance of partnership and the commitment we share in building the future of Defence together."*

The agreement with Fincantieri constitutes a related-party transaction of greater importance. For Leonardo, the expected sub- contract qualifies as a related-party transaction of lesser importance, based on the contract's value and the applicable relevance indexes. Both transactions comply with the relevant legal and regulatory frameworks, and benefit from exemptions granted for transactions with subsidiaries (including jointly controlled entities), as provided for by current regulations and internal procedures.

*Orizzonte Sistemi Navali is an Italian company that has been operating for over 20 years as a system integrator at Whole Warship level throughout the ship's life cycle. The Company is Prime Contractor, Whole Warship and Combat System Design Authority for important national and international production and logistics support programs. It is owned by Fincantieri (51%) and Leonardo (49%), the two main Italian industrial groups operating worldwide in the defense sector.* 

*Communications Office* 

*Tel +39 0645413214*

*www.orizzontesn.it*

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*Fincantieri is one of the world's leading shipbuilding companies, the only one active in all areas of hightech shipbuilding. It is a leader in the construction and transformation of cruise, military and offshore vessels in the oil & gas and wind power sectors, as well as in the production of systems and components, after-sales services and ship-furnishing solutions. Thanks to the skills it has developed in the management of complex challenges, the Group has completed a number of world-class infrastructure projects and is a leading player in digital technology, cybersecurity, electronics and advanced systems. With over 230 years of history and more than 7,000 ships built, Fincantieri maintains its know-how and management centers in Italy, where it employs 10,000 workers and creates around 90,000 jobs, doubling the employment figure worldwide thanks to a production network of 18 shipyards operating on three continents employing over 21,000 direct workers.* 

### *[www.fincantieri.com](http://www.fincantieri.com/)*

### *FINCANTIERI*

*Press Office Investor Relations Tel. +39 040 3192111 Tel. +39 040 3192111*

*[press.office@fincantieri.it](mailto:press.office@fincantieri.it) [investor.relations@fincantieri.it](mailto:investor.relations@fincantieri.it)*

*Leonardo is an international industrial group, among the main global companies in Aerospace, Defence, and Security (AD&S). With 60,000 employees worldwide, the company approaches global security through the Helicopters, Electronics, Aeronautics, Cyber & Security and Space sectors, and is a partner on the most important international programmes such as Eurofighter, JSF, NH-90, FREMM, GCAP, and Eurodrone. Leonardo has significant production capabilities in Italy, the UK, Poland, and the USA. Leonardo utilises its subsidiaries, joint ventures, and shareholdings, which include Leonardo DRS (71.6%), MBDA (25%), ATR (50%), Hensoldt (22.8%), Telespazio (67%), Thales Alenia Space (33%), and Avio (29.6%). Listed on the Milan Stock Exchange (LDO), in 2024 Leonardo recorded new orders for €20.9 billion, with an order book of €44.2 billion and consolidated revenues of €17.8 billion. Included in the MIB ESG index, the company has also been part of the Dow Jones Sustainability Indices (DJSI) since 2010.*

*www.leonardo.com*

## *LEONARDO*

*Press Office Investor Relations Ph. +39 0632473313 Ph +39 0632473512*

*ir@leonardo.com*