July 27th, 2023

Conference call details

LIVE EVENT:

The Company will host a conference call for investors and analysts today at 9:00 (Spanish time).

Please find below conference call telephone details:

Pre-registration: https://aiti.capitalaudiohub.com/indra/reg.html

Once you've registered, you will receive an email with your personal credentials: Dial-in numbers, Conference ID and User ID.

Participants will need to enter the Conference ID and press the pound key.
Each participant will need to enter a unique personal User ID and press the pound key.

Access to the webcast live event:

https://streamstudio.world-television.com/1015-2578-36603/en

This presentation has been produced by Indra for the sole purpose expressed therein. Therefore, neither this presentation nor any of the information contained herein constitutes an offer sale or exchange of securities, invitation to purchase or sale shares of the Company or any advice or recommendation with respect to such securities.

Its content is purely for information purposes and the statement it contains may reflect certain forward-looking statements, expectations and forecasts about the Company at the time of its elaboration. These expectations and forecasts are not in themselves guarantees of future performance as they are subject to risks, uncertainties and other important factors beyond the control of the Company that could result in final results materially differing from those contained in these statements. The Company does not assume any obligation or liability in connection with the accuracy of the mentioned estimations and is not obliged to update or revise them.

This document contains information that has not been audited. In this sense, this information is subject to, and must be read in conjunction with, all other publicly available information.

This disclaimer should be taken into consideration by all the individuals or entities to whom this document is targeted and by those who consider that they have to make decisions or issue opinions related to securities issued by Indra.

Marc Murtra Chairman

We are at a time of transformation in our key markets

Geopolitics have changed the context completely; Ukraine has accelerated trends dramatically
Air traffic recovery is surprisingly swift; the Mobility sector is changing the world

Tech Technology is speeding up the transformation of worldwide value chains
- Strong focus on high-value segments, i.e. cybersecurity, AI, Cloud

We want to become the Spanish defense reference and a relevant international tech player

Support the development of our clients' capabilities
Collaborate with the industry / value chains
Achieve operational excellence to implement more complex projects
Harness the potential of disruptive technologies
Reduce our time-to-market in the delivery

To achieve our objective, we are transforming Indra…

New strategy & stakeholder alignment

Appointment of a new CEO

Internal reorganization

José Vicente de los Mozos Chief Executive Officer

01 Presence in markets with clear long-term growth fundamentals, and favorable tailwinds

02 Strong potential for cross-cutting capabilities and best-practices to support operational excellence

03 Outstanding talent, commitment and passion to deliver on new & future challenges

04 Excellent profitability, strong growth perspectives and low financial leverage

To sustain our leadership positioning we will drive operational excellence across the company

Grow Increased control of the industrial and tech value-chains
- Prime Contractor positioning in the Spanish defence ecosystem

Simplify • Streamlined product and segments portfolio from a value-based perspective

• Drive agile and efficient operations to respond to our customer expectations

Invest Increased profitable investment in technology and operations
- Sharp focus on financial discipline and returns

Four priorities to lead this new journey

Key priorities for Indra (4 "Ts")

મ્બ o-o
Traction	Transformation	Talent	Technology
Drive the national ecosystem as a prime contractor	Create a new company model through restructuring & simplification	Attract and retain the best national and international talent	Invest in focused, sustainable and customer- oriented technology

We have already signed off two Memorandums of Understanding with Spanish key players
- Navantia
- Tecnobit (OESIA Group)
Upcoming activity in the next months with national and international players
Key to streamline the sector to support the development of the key capabilities of our customers

Relevant presence in the main ESG indexes Committed to talent

TOP 1%

Nº1 industry leader in DJSI World 2021 and 2022 S&P Sustainability Award Gold Class 2022

Member

Best score in governance, Human Rights, labor standards, supply chain and Climate Change

Low ESG Risk Strong management of data privacy and security, governance, human capital and business ethics

AA

Managing the most significant ESG risks and opportunities

Prime Fulfilling ambitious ESG performance requirements

A List Leading corporate transparency and action on climate change

Top employer for 5 years Outstanding score in ethics, diversity and inclusion and sustainability

Supporting gender equality

One of the 18 Spanish companies listed in the Bloomberg Gender Equality Index 2022

33% women on staff ¹

Acting on Climate Change

2030: -50% scope 1 and 2 and -14% scope 3 emissions
2040: carbon neutral, -50% scope 3 emissions

2050: net zero

Indra

1H23 Indra Highlights

1123 Results

Solid 1H23 performance:

EPS up by +35.3% compared to 1H22
New all-time high in order backlog, driven mainly by Air Traffic, Transport and Minsait
Revenues grew at double-digit rate in 1H23 vs 1H22, mainly pushed by Defense (mainly FCAS), and Air Traffic
EBIT also up at double-digit rate, speeding up in 2Q23
1H23 Free Cash Flow more than twice 1H22, being the best 1H figure ever
Financial leverage reduced to 0.1x compared to 0.6x in June 2022
2023 Guidance upgraded after a solid 2Q23 and the start of the transformation journey
Selex Acquisition in the US completed

Backlog

€ 6,819m

+ 12.8%

Order Intake

€ 2,512m + 8.0%

Revenues

€ 2,012m

+ 11.5%

Basic EPS

€ 0.51

+ 35.3%

EBIT

€ 139m (6.9% margin ) + 12.8%

Free Cash Flow

€ 54m

0.1x Net Debt/EBITDA

Reported	+ 11%
Local Currency	+ 12%
Organic1	+ 10%

1H23 Revenues (€m) 1H23 Operating Margin² (€m)

1H23 EBIT and Margin (€m)

Excluding the impact of the Inorganic contribution and FX impact for the year; 2. EBIT before Other Operating Income & Expenses, including: staff reorganization, impairments, capital gains, integration and acquisition costs, fines, amortization of intangible assets (PPA from acquisitions) and equity-based compensation

Reported	+ 15%
Local Currency	+ 16%
Organic1	+ 14%

2Q23 Revenues (€m) 2Q23 Operating Margin² (€m)

2Q23 EBIT and Margin (€m)

Excluding the impact of the Inorganic contribution and FX impact for the year; 2. EBIT before Other Operating Income & Expenses, including: staff reorganization, impairments, capital gains, integration and acquisition costs, fines, amortization of intangible assets (PPA from acquisitions) and equity-based compensation.

1123 T&D Highlights

1123 Results

Backlog € 4,769m + 17% Order Intake € 832m + 7% Revenues € 663m + 12% Operating Margin € 76m (11.5% margin) + 17%

EBIT € 70m (10.5% margin) + 15%

Main T&D key figures grew at double-digit rates, except for Order Intake (+7%)
Revenues acceleration boosted by Defense (mainly FCAS) and ATM
T&D Margins at doubledigit levels, improving vs 1H22

277 501 Local Currency / Reported 1H23 Order Intake (€m) Defence & Security Transport & Traffic +8% +7% +34% +32% -7% -7%

1H23 Revenues (€m)

1H23 Operating Margin¹ (€m)

1H23 EBIT and Margin (€m)

1.EBIT before Other Operating Income & Expenses, including: staff reorganization, impairments, capital gains, integration and acquisition costs, fines, amortization of intangible assets (PPA from acquisitions) and equity-based compensation.

T&D

2Q23 Revenues (€m)

2Q23 Operating Margin¹ (€m)

2Q23 EBIT and Margin (€m)

T&D

indra

11-23 Minsait Highlights

1123 Results

Backlog € 2,051m + 4% Order Intake € 1,680m + 9% Revenues € 1,349m + 11% Operating Margin € 91m (6.7% margin + 8%

EBIT € 69m (5.1% margin ) + 11%

)

Minsait's Revenues double -digit growth, with all verticals posting growth
Strong commercial push with Order Intake growing +9% (+16% excluding Election Business)
Minsait's EBIT Margin stood above 5% despite wage inflation
Digital and Solutions joint sales +13% in 1H23 and accounted for 56% of Minsait sales