Indra Sistemas S.A.

Report Publication Announcement • Jul 27, 2022

1H22 Results

July 27th, 2022

CONFERENCE CALL DETAILS

LIVE EVENT:

Indra will host a conference call for investors and analysts on July 27th at 18:30 am (Spanish time). Please find below conference call telephone numbers: Spain: +34911140101 France: +33170710159 UK: +442071943759 US: +1 6467224916 Access Code: 83806606# Access to the live event: https://onlinexperiences.com/Launch/QReg/ShowUUID=11BF2164-A7E5-4B6E-B172-DDA31F018834

WEBCAST REPLAY: A recording of the conference call will be available for 30 days on the following telephone numbers:

Replay dial number: Spain: +34 910 387 491 France: +33 (0)1 70 71 01 60 UK: +44 20 3364 5147 US: +1 (646) 722-4969 Access code: 425022575# Access to the Webcast Replay:

https://onlinexperiences.com/Launch/QReg/ShowUUID=11BF2164-A7E5-4B6E-B172-DDA31F018834

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.

Main 1H22 headlines

Revenues, EBIT and Net profit grew again at double-digit rates in the first half of 2022

2022 Revenues, EBIT and FCF guidance increased

• Revenues in 1H22 grew +11.6% vs 1H21, and +10.0% in 2Q22 vs 2Q21, mainly bolstered by Minsait
• EBIT up +22.5% year-on-year, bringing the EBIT margin to 6.8% in 1H22 vs 6.2% in 1H21, thanks to the improvement in profitability in Transport and Defence 2
• Net Profit reached €66m in 1H22, +19.9% higher than in 1H21 3
• Free Cash Flow in 1H22 was €24m vs €-50m in 1H21, bringing Net Debt/EBITDA ratio down to 0.6x compared to 2.1x in June 2021
• Backlog reached €6,044m (+12.6%), achieving a new record high, while order intake recorded +25.8% growth in 1H22 vs 1H21 5
• 2022 Guidance upgraded (revenues in constant currency now >€3,600m, reported EBIT now >€280m and FCF now >€175m) 6

Moving forward to bring back good corporate governance

Indra's board agreements:

Call for a Extraordinary General Shareholders Meeting around the end of October to:

• Set the number of members of the Board of Directors at 14. At least half of them will be independent
• Elimination of the provision on the quality vote of the Chairman of the Board contained in the Company's Bylaws
• Search process for new Board members will be led by current independent Board members, supported by Korn Ferry 2
• Consolidation of the separation between the non-executive Chairman and the CEO
• The roll of the coordinating independent board member will be maintained.

3

Revenue evolution

1. Excluding the impact of the Inorganic contribution and FX impact for the year

Revenues by region

1H22 Breakdown Revenue Growth 1H22 vs 1H21

(Constant currency)

Operating Margin and EBIT evolution

1H22 Operating Margin¹ (€m)

1H22 EBIT and Margin (€m)

2Q22 Operating Margin¹ (€m)

2Q22 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.

Workforce evolution

2022 Guidance

War in Ukraine has completely changed the outlook for the defence sector

Symmetrical high-intensity conflicts in Europe are a real threat for which we must be prepared

Early effects

 Increase in defence spending in neighbouring countries (Germany €100bn)  Willingness to support the cooperative development of defence programms in Europe is confirmed  NATO summit in Madrid: Spanish commitment to increase defence spending (to reach 2% of GDP by 2029)  €1bn increase in defence approved in Spain's 2022 budget

Acceleration of programms for Indra

 Increase in the national support budget: opportunity for new contracts for Indra, mainly in the Navy and in the Air Force.  Foreseeable launch of national or cooperative programms:  Boosting the inter-nation agreement for Phase 1B of the FCAS  Acceleration of the purchase of new Eurofighters for the Canary Islands (Halcon Programme). This will result in contracts for Indra in 2022 and 2023  Renewal of air defence systems (Command and Control, Radars)  Launch of the Santiago 2 Electronic-Intelligence Program

New Command and Control and terrestrial communications programs

11

T&D

T&D backlog and order intake

1H22 T&D Order Intake (€m) 1H22 T&D Backlog(€m)

Local Currency / Reported

T&D revenues

1H22 Revenues (€m)

Local Currency / Reported

2Q22 Revenues (€m)

Local Currency / Reported

Transport & Traffic Defence & Security

T&D Operating Margin and EBIT evolution

1H22 Operating Margin¹ (€m)

1H22 EBIT and Margin (€m)

2Q22 Operating Margin¹ (€m)

2Q22 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.

Minsait backlog and order intake

1H22 Minsait Backlog(€m)

1H21 1H22

1H22 Minsait Order Intake (€m)

MINSAIT

Minsait revenues

Minsait Operating Margin and EBIT evolution

1H22 Operating Margin¹ (€m)

2Q22 Operating Margin¹ (€m)

1H22 EBIT and Margin (€m)

2Q22 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.

1. For 2020, 2021 and 2022 excludes extraordinary items related to employee restructuring plans and asset disposals

Net Working Capital Evolution

Net Working Capital ST+LT (DoS)

Net Debt Evolution

1. Non-recourse factoring; 2. EBITDA LTM excluding IFRS 16, extraordinary items related to employee restructuring plans and asset disposals

2. Including €245m Convertible Bond with 2023 maturity; 2. €149m Corporate Bond with 2024 maturity

Investor Relations irindra@indra.es

Avenida de Bruselas, 35 28108 Alcobendas Madrid Spain T +34 91 480 98 00 www.indracompany.com