Sogeclair S.A.

Investor Presentation • Sep 10, 2025

H1 2025 KEY FIGURES

ACHIEVEMENTS FOR H1 2025

FINANCE	> EBITDA improved to 6.3% of the turnover, an increase of €1 million compared to June 2024 (excluding research tax credit and capitalized R&D). > The improvement in EBITDA directly impacts cash flow generated by operations by €4.3 million compared to June 2024.
HUMAN RESOURCES	> Arrival of the new governance (President + CEO) in January 2025 > Recruitment of François Mérialdo as VP Special Defense Vehicles > Integration of CSR and compliance activities under the responsibility of Audrey Taillieu (Legal Manager) > Appointment of Mathieu Maissin as Group Quality Manager
OPERATIONS	> Favorable business perspectives for Rail Simulation activity > Improvement of OTD and OQD for Aircraft Interior > New organization of the industrial tool to increase production capacity in thermoplastic composites > Strengthening and diversification of Defense activities in engineering and products > Start of works at the ALM plant
CYBER / RSE	> Creation of an ad hoc CSR Committee and appointment of Akram Asseraou as CSR Officer > Maintaining Boost-Aerospace's Gold Air Cyber qualification

KEY FIGURES CAPITALIZED R&D AND RESEARCH TAX CREDIT RECOGNIZED IN H2

OPERATING INCOME at 6,3 % of turnover

FINANCIAL DEBT AND GEARING KEY FIGURES

H1 2025	Gearing	2024	H1 2024	Gearing
59 1 ,	-	64 0 ,	8 57 ,
19 1 ,	-	22 0 ,	23 4 ,
0 8 ,	-	0 8 ,	1 0 ,
14 3 ,	-	19 5 ,	8 5 ,
5 6 ,	9 53% ,	3 3 ,	16 0 ,	27 71% ,
0 0 ,	-	0 0 ,	0 5 ,
5 6 ,	9 54% ,	3 3 ,	16 5 ,	28 49% ,
7 0 ,	-	8 3 ,	8 5 ,
12,6	21,37%	11,6	25,0	43,28%

Any differences are due to rounding

TO NOTE

• NET DEBT W/O IFRS16: -10,9 €M COMPARED TO 06/24

• WCR AT 77 DAYS DECREASING BY 20 DAYS COMPARED TO JUNE 2024

• UNMOBILIZED CUSTOMER ACCOUNT: 40,9 €M

• DIVIDENDS PAID IN H1 2025: 3,4 €M

IN SYNTHESIS

H1 2025 ACCOUNTS - ALL INDICATORS ARE IMPROVING

in K€	H1 2025	H1 2024	Variation 2025-2024
Turnover	80 579	79 112	1 467 +
EBITDA	081 5	090 4	991 +
Operating Income	1 544	-444	1 988 +
Result Net	-820	-982	162 +
Total restated debt net	12 627	25 009	- 12 382
(w/o debt incl Social debts) Net IFRS16 ,	5 640	16 464	- 10 824

THE ENGINEERING BU, A DEVELOPMENT SUPPORTED BY BUSINESS AVIATION AND DEFENSE. THE SOLUTIONS BU WAS IMPACTED DURING THE FIRST HALF BY THE ECONOMIC AND GEOPOLITICAL CONTEXT. BY CUSTOMER

TURNOVER GENERATED WITH THE BOMBARDIER AND DASSAULT GROUPS IS GROWING, WHILE TURNOVER WITH THE AIRBUS GROUP REMAINS STABLE. THE TOP 20 HAS STRENGTHENED TO 87.8% OF TURNOVER, COMPARED TO 83.5% IN JUNE 2024.

SOGECLAIR / RESULTS FOR H1 2025 / 10/09/2025 © Sogeclair 2025 – All rights reserved – CONFIDENTIAL STRONG GROWTH IN THE DEFENSE MARKET. COMMERCIAL AVIATION IS STABILIZING, BUSINESS AVIATION, AUTOMOTIVE AND RAIL ARE IN SLIGHT DECLINE WHILE SPACE IS GROWING.

BY SECTOR

BY GEOGRAPHICAL AREA OF OUR CUSTOMERS

THE FRANCE/EUROPE AREAS ARE GROWING. ACTIVITY IN NORTH AMERICA IS DECLINING AFTER STRONG GROWTH IN 2024.

7

BY GEOGRAPHIC AREA SOGECLAIR TURNOVER AND RESULTS

EUROPE / AFRICA

millions €	2025 H1	2024 H1
Turnover	59 329	56 110
EBITDA	2 415	1 291
Operating Income	18	-1 041

Improved engineering profitability

• Profitability of the thermoplastics business impacted by the dollar's fluctuations and delivery delays at a customer's request

• Cross-functional investments in digital transformation are continuing, accompanied by a cost optimization plan.

ASIA-PACIFIC

millions €	H1 2025	H1 2024
Turnover	2 406	2 764
EBITDA	15	-927
Operating Income	-252	-1 178

• Rail simulation recovery plan underway with the goal of returning to profitability by 2026

• +17,9% > Ongoing investments in India to enhance team skills

AMERICA

millions	H1	H1
€	2025	2024
Turnover	18 841	20 236
EBITDA	1 056	2 098
Operating	105	1
Income	1	111

• Turnover decline due to the geopolitical context and the completion of the Aircraft Interiors backlog catch-up in 2024.

• Operating income stable despite the turnover decline

• Aircraft Interiors activities now on-time delivery / onquality delivery

Differences are due to rounding.

The holding company generated EBITDA of +1.6€M and operating income of +0.7€M stable compared with H1 2024.

FOCUS ACTIVITY

MANUFACTURING ENGINEERING

PROCESSING OF NON-CONFORMITIES €11.2M OF TURNOVER

FOCUS ACTIVITY MANUFACTURING ENGINEERING – HANDLING OF NON-COMPLIANCE ISSUES

PROCESSING OF NON-CONFORMITIES OF AIRCRAFT PARTS PRODUCED IN OUR CUSTOMERS SITES

> MULTI-SITE

• ON AIRCRAFT IN PRODUCTION (CIVIL + MILITARY)

• WRITING OF NON-CONFORMITY REPORTS/

• STATEMENT OF DEFECTS (MEASUREMENTS, PHOTOS, ETC.)

• RESEARCHING PREVIOUS CASES

• RESOLVING SIMPLE OR COMPLEX CASES

• ANALYSIS

• PERFORMING REPAIR STUDIES

• COORDINATING WITH TECHNICAL CONTACTS (SECTION MANAGERS, CALCULATIONS, AERO, ETC.)

FOCUS ACTIVITY ALM PLANT €0.1M OF TURNOVER

FOCUS ALM ACTIVITY ALM PLANT IN TOULOUSE

IN 2025, SOGECLAIR DECIDED TO INVEST IN A METAL 3D PRINTING PRODUCTION PLANT ON ITS EXISTING SITE AT THE TOULOUSE INDUSTRIAL CENTER TO INSTALL TWO PRINTING MACHINES FROM THE FRENCH BRAND ADDUP AS WELL AS POST-PROCESSING MACHINES

OBJECTIVE OF THE PROJECT:

• DEVELOPMENT AND MATURITY OF A CLEAN SOGECLAIR PRODUCT OF INNOVATIVE HEAT EXCHANGER IN 3D METAL PRINTING IN ORDER TO MEET THE CHALLENGES OF SOVEREIGNTY AND DECARBONIZED INDUSTRY (IN PARTICULAR THE AERONAUTICS AND ENERGY SECTORS)

• OFFER A UNIQUE AND AN END-TO-END SERVICE:

  • DESIGN OFFICE: EQUIPMENT DESIGN AND SIZING ➔ EXISTING SGA ALM CENTER

  • EQUIPMENT MANUFACTURING ➔ NEW 3D PRINTING PLANT

  • EQUIPMENT TESTING ➔ EXISTING TEST BENCH ON THE TOULOUSE SITE

Gas-Liquid additive manufacturing metal exchanger

PERSPECTIVES

TURNOVER ONE SOGECLAIR PLAN

Nouvelle Gouvernance

La nouvelle gouvernance de SOGECLAIR, Alexandre

redressement initié en 2024. Le renforcement de ses équipes

synergie de nos expertises en simulation devrait également permettre une maîtrise de nos coûts sur les projets et une

2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

• Robardey, Président du Conseil et Philippe Brel, Directeur Général, est confiante pour la poursuite de la croissance profitable en 2025. > AFTER A VERY POSITIVE FIRST HALF OF THE YEAR (DESPITE THE CURRENCY EFFECT IN Q2), THE GROUP EXPECTS TO CONTINUE ITS GROWTH MOMENTUM IN H2 2025 THANKS TO THE DIVERSIFICATION OF THE ENGINEERING BU AND THE INITIAL EFFECTS OF IMPROVEMENT PLANS ON THE SOLUTIONS BU'S ACTIVITIES.
• La BU Engineering va pouvoir s'appuyer sur de solides perspectives pour 2025 résultant de sa bonne dynamique > THE BUSINESS AVIATION SECTOR WILL REMAIN THE MAIN DRIVER OF ENGINEERING ACTIVITY IN H2, SUPPORTED BY DIVERSIFICATION ACTIVITIES.
• commerciale et prévoit de poursuivre ses gains de parts sur le marché porteur de l'aviation d'affaires. > AS DEMONSTRATED BY THE POSITIVE TREND IN RESULTS IN THIS FIRST HALF, IMPROVEMENTS IN OUR EBITDA RATIOS WILL CONTINUE AT CONSTANT EXCHANGE RATES.
• La BU Solutions va poursuivre l'exécution de son plan de > DIGITAL TRANSFORMATION WORK PROGRESSED WELL IN H1 AND ARE PROVIDING SUPPORT FUNCTIONS WITH A BETTER OVERVIEW OF STRUCTURAL COSTS.
• commerciales a permis de développer le pipe commercial l'an dernier et devrait porter ses fruits en 2025. Une mise en > SOGECLAIR HAS ALSO BEEN COMMITTED FOR SEVERAL YEARS TO IMPLEMENTING A CORPORATE SOCIAL RESPONSIBILITY (CSR) APPROACH, WHICH INVOLVES ALL TEAMS AND A RATING SYSTEM WITH CONCRETE ACTIONS ON THE PROGRESS OF AN ENVIRONMENT, SOCIAL AND GOVERNANCE (ESG) PLAN. NOTE THAT THE EXTRA-FINANCIAL REPORT WAS PUBLISHED IN THE URD IN APRIL 2025.

meilleure valorisation de nos plans de R&D.

APPENDIX

SOGECLAIR / RESULTS FOR H1 2025 / 10/09/2025 © Sogeclair 2025 – All rights reserved – CONFIDENTIAL

APPENDIX 1: CONSOLIDATED INCOME STATEMENT

INCOME STATEMENT (in K€)	H1 2025	H1 2024
Turnover	80 579	79 112
Other operating income	1 162	1 402
Purchases consumed and production stocked	-33 349	-36 601
Employee expenses	-41 721	-39 034
Taxes and duties	-337	-442
Amortisation and depreciation charges	-3 603	-4 395
Other expenses	-1 253	-348
Current Operating result	1 477	-305
Profit on disposal of fixed assets (1.1)	87	-6 110
Exceptional reversals (1.2)	0	7 594
Exceptional depreciations	-20	0
Other current operating income and expenses (1.3)	0	-1 627
Operating result before income from equity method affiliates	1 543	-448
Operating result	1 544	-444
Income from cash and cash equivalents	-1 126	584
Cost of gross financial debt	-585	-633
Cost of net financial debt	-1 711	-50
Other financial incomes and expenses	20	103
Profit before taxes	-146	-391
Income tax	-674	-591
Consolidated net profit	-820	-982
Attributable to Group share	-284	-889
Attributable to Non-controlling interests	-536	-93

(1) Of which liquidation of German subsidiary closed in 2020, finalized in 2024.

(1) In 2024: Liquidation of German subsidiary closed in 2020, finalized in 2024. No impact in the income statement.

No impact in the income statement.

APPENDIX 2: CONSOLIDATED BALANCE SHEET - ASSETS

(in K€) ASSETS	H1 2025	H1 2024	2024
Goodwill	12	13	12
	315	026	870
intangible Net assets	8 436	9 575	10 038
tangible Net assets	9 695	11 074	10 805
and Investments in associates joint ventures	270	174	219
Financial	2	2	3
assets	747	976	008
Deferred tax assets	8 043	466 7	8 331
Non-current	41	44	45
assets	505	290	269
Inventories	15	15	15
	307	454	651
Trade	46	56	49
receivables	881	036	583
Other	22	24	21
receivables	783	028	834
Cash and cash equivalents	15 884	10 018	20 395
Current	100	105	107
assets	855	535	464
TOTAL	142	149	152
ASSETS	360	826	733

APPENDIX 3: CONSOLIDATED BALANCE SHEET - LIABILITIES

(in K€) LIABILITIES	H1 2025	H1 2024	2024
Share capital	3 205	3 205	3 205
Share premium	8 924	8 924	8 924
shares Own	-939	-959	-959
and accrued profits Reserves	34 126	33 384	37 818
share Group	45 316	44 554	48 988
Non-controlling interests	13 780	13 231	15 012
Total Shareholders' equity	59 095	786 57	64 000
Non-current provisions	3 519	2 826	3 815
qualified Non current pre-payments	55	553	84
Other financial liabilities	18 460	22 086	20 976
Other debt non current	149	0	0
Other liabilities	227	364	236
Deferred taxes	0	0	0
liabilities Non current	22 410	25 829	25 111
qualified Current pre-payments	711	441	716
of financial liabilities Current part non-current	7 728	9 974	9 339
Other financial liabilities	1 550	1 520	860
Current provisions	328	140	280
Trade payables	16 199	20 574	16 271
Social and liabilities tax	22 636	21 661	23 266
Other liabilities current	684 11	883 11	12 875
liabilities Current	60 854	66 211	63 622
TOTAL EQUITY LIABILITIES	142 360	149 826	152 733

APPENDIX 4: CONSOLIDATED ANALYSIS BY GEOGRAPHIC AREA

	Europe Africa	America	Asia-Pacific	Holding	GROUP
by Geographical (in K€) INCOME STATEMENT Area	H1 2025	H1 2025	H1 2025	H1 2025	H1 2025
Turnover	59 329	18 841	2 406	3	80 579
Other operating income	1 061	89	0	13	1 162
Purchases consumed and production stocked	-24 442	961 -5	060 -1	885 -1	-33 349
Employee expenses	-27 983	-9 844	-1 764	-2 130	-41 721
and duties Taxes	-301	0	0	-37	-337
and depreciation charges Amortisation	-2 485	49	-246	-921	-3 603
Other expenses	-5 249	-2 068	433	5 631	-1 253
result Current Operating	-69	105 1	-232	674	1 477
Profit disposal of fixed assets on	86	0	0	0	87
Exceptional reversals	0	0	0	0	0
Exceptional depreciations	0	0	-20	0	-20
Other and operating income current expenses	0	0	0	0	0
result before from method affiliates Operating income equity	17	105 1	-252	674	543 1
profit/(loss) Share of from and associates joint net ventures	1	0	0	0	1
Operating result	18	1 105	-252	674	1 544

WITHIN THE ONE SOGECLAIR ORGANIZATION, THE PERFORMANCE MEASURED ABOVE CORRESPONDS TO THE LOCATION OF OUR SUBSIDIARIES BY GEOGRAPHIC AREA.

APPENDIX 5: CONSOLIDATED ANALYSIS BY SECTOR

by (in K€) INCOME STATEMENT Sector	H1 2025 Engineering	H1 2025 Solutions	H1 2025 Holding	H1 2025 GROUP
Turnover	524 41	39 052	3	80 579
Other operating income	108	1 041	13	1 162
Purchases consumed and production stocked	-12 601	-18 863	-1 885	-33 349
Employee expenses	-21 742	-17 849	-2 130	-41 721
and duties Taxes	-136	-165	-37	-337
and depreciation charges Amortisation	-737	945 -1	-921	-3 603
Other expenses	-2 737	-4 147	631 5	-1 253
Operating result Current	3 679	-2 876	674	1 477
Profit disposal of fixed assets on	65	22		87
Reversal of extraordinary depreciations
Extraordinary depreciations		-20		-20
Other and operating income current expenses		- 1	-	-
result before from method affiliates Operating income equity	3 745	-2 875	674	1 543
profit/(loss) Share of from and associates joint net ventures		1		1
Operating result	3 745	-2 874	674	1 544

APPENDIX 6: CASH FLOW STATEMENT

CONSOLIDATED CASHFLOW STATEMENT (in K€)	H1 2025	H1 2024	2024
Consolidated net profit (including minority interests)	-820	-982	6 113
+/- Depreciation, amortisation and provisions (excluding current assets) (3)	3 947	-2 061	3 355
-/+ Unrealised gains and losses related to fair value movements	-15	-14	-60
+/- Income and expenses related to stock options and employee benefits		25	46
-/+ Profit / loss on disposal of assets and others (4)	-95	4 706	4 951
-/+ Dilution profits and losses	-470	-80	-455
+/- Share of net profit/(loss) from associates and joint ventures	- 1	- 4	3
+/- Other products without treasury impact (2) / (5)	388	753	-1 415
Cash flow from operations after cost of net financial debt and tax	2 935	2 343	12 538
+ Cost of net financial debt (excluding non-cash items) (1)	613	644	994
+/- Tax expense (including deferred tax)	674	591	491
Self-financing capacity before net finance costs and tax (A)	4 221	3 578	14 023
- Tax paid (B)	-651	779	629
+/- Variation in working capital requirements (C )	752	-3 061	2 386
= NET CASH FLOW FROM OPERATING ACTIVITIES (D) = (A + B + C)	4 322	1 296	17 038
- Acquisition-related disbursements on tangible and intangible assets (2)	-947	-1 397	-1 743
+ Disposal-related proceeds on tangible and intangible assets	234	177	112
+/- Acquisition of companies, net of cash acquired			-102
+ Interest received	-	88	88
+/- Variation in loans and advances granted	319	-46	-184
+ Investment grants received		122	114
= NET CASH FLOW FROM INVESTING ACTIVITIES (E)	-395	-1 057	-1 715
+ Sums received from shareholders for capital increase
-/+ Buyback and sale of own shares	20	20	20
- Dividends and interim dividends paid	-3 383	-3 363	-3 370
- paid to the parent company shareholders	-2 933	-2 862	-2 869
- paid to the integrated company minority interests	-449	-501	-501
+ Increase in loans	580	708	2 399
- Repayment of borrowings and lease liabilities	-5 435	-5 189	-10 580
- Net finance costs (including lease liabilities)	-608	-637	-977
-/+ Other financial costs		- 4	- 4
= NET CASHFLOWS FROM FINANCING AND CAPITAL ACTIVITIES (F)	-8 826	-8 465	-12 511
+/- Impact of changes in foreign exchange rates on cash and cash equivalents (G)	-302	38	37
= NET CHANGE IN CASH AND CASH EQUIVALENTS (D + E + F + G)	-5 201	-8 188	2 849

(1) Cost of net financial debt = cost of gross financial debt + net income from short term investments.

(2) impact of restatement of capitalized production and disposal of IFRS16, no cash impact

(3) - (4) - (5) in H1/2024 et 2024: Liquidation of German subsidiary closed in 2020, finalized in 2024. No impact in the cash flow statement.