April 27th , 2023

CONFERENCE CALL DETAILS

LIVE EVENT:

The Company will host a conference call for investors and analysts today at 18:30 (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/1015-2578-35608/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.

Chief Executive Officer

General Director Minsait

Chief Financial Officer

1Q23 Indra Highlights

1Q23 T&D Highlights ^T&^D

1Q23 Minsait Highlights

1Q23 Financial Review

Chief Executive Officer

Solid 1Q23 performance:
- EPS up by +11.1% compared to 1Q22
- Strong demand and commercial push led to a new all-time high in backlog, driven by Transport & Defence
- Revenues and EBIT up almost double digit in 1Q23 vs 1Q22
- Profitability maintained despite strong salary inflation
- 1Q23 Free Cash Flow more than twice 1Q22 and the best for the past 6 years
- Financial leverage reduced to 0.1x
2023 Guidance reiterated after a solid 1Q23
Third position on Europe´s Climate Leaders 2023 ranking by Financial Times

Headlines For a Solid Quarter

Backlog	Order Intake
€ 6,772m	€ 1,399m
+13 1%	+4 2%
Revenues	EBIT
€ 917m	€ 65m (7.1% margin)
+7 7%	+8 4%
Basic EPS	Free Cash Flow
€ 0.25	€ 27m
1% +11	0 Debt/EBITDA 1x Net

1Q23 Revenues (€m)

Reported	+8%
Local Currency	+7%
Organic1	+5%

1Q23 Operating Margin² (€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.

Workforce down slightly by -0.3% compared to year-end 2022
Revenue LTM/Employee increased +6% vs March 2022 and +2% vs December 2022

	2022 results	Guidance 2023
Revenues (in constant currency)	€3,851m	> €4,000m
EBIT	€300m	> €315m
FCF	€253m	> €200m

Chief Executive Officer

Backlog	Order Intake
€ 4,802m	€ 491m
+21%	+31%
Revenues	Operating Margin
€ 267m	€ 33m (12.2% margin)

-4%

+9%

EBIT

€ 31m (11.7% margin)

+13%

T&D Backlog at all-time high Backlog over Revenues LTM ratio over 3.6x T&D EBIT Margins at double-digit levels, improving from 9.8% to 11.7% EBIT Margin

1Q23 Order Intake (€m)

1Q23 Revenues (€m)

Local Currency / Reported

1Q23 Operating Margin¹(€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.

General Director Minsait

Backlog	Order Intake
€ 1,970m	€ 908m
2% -	6% -
Revenues	Operating Margin
€ 650m	€ 43m (6.7% margin )
+13%	+3%
	EBIT
	€ 34m (5.2% margin )

+4%

Minsait's Revenues strong growth, very good performance in all its verticals
Order Intake up +9% excluding Election Business
Minsait's EBIT Margin stood above 5% despite wage inflation
Digital and Solutions joint sales +20% in 1Q23 and accounted for 56% of Minsait sales