Bilfinger SE

Investor Presentation • Nov 17, 2025

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Q3 2025 Results

November 13, 2025 Dr. Thomas Schulz, Group CEO

Matti Jäkel, Group CFO

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Highlights | Q3 2025

Stable development

in a volatile market

+1% / org. 0%

Orders Received

€ 1,360 million

+8% / org. +7%

Revenue

€ 1,384 million

5.8%

EBITA margin

from 6.0%

€ 1.47

Earnings per share

from € 1.45

€ 71 million

Free Cash Flow

from € 55 million

Updated Outlook

Revenue € 5.3 – 5.5 bn EBITA margin 5.4 – 5.6 %

New mid-term targets

Capital Markets Day

Dec 2, 2025

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ESG Topics

Safety

TRIF: Total Recordable Incident Frequency

[based on 1 million working hours ]

LTIF: Lost Time Injury Frequency

[based on 1 million working hours ]

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Industry Development

Production Index 1)		Outsourcing	Bilfing	jer
Base year 2019 I Europe, Middle East and North America		Potential	Revenue Share 2)	Demand
150	Chemicals & Petrochemicals Significant regional differences in expected growth	$\Box$	23%	$\Rightarrow$
140	Energy
130	Increasing demand for storage		23%
120	and transmission
110	Oil & Gas Strong LNG demand offsetting	~	20%	~
100	lower refinery demand		20 /0
90	Pharma & Biopharma	1
80 —	Growth driver: Localization, reduced time to market		13%	$\langle \lambda \rangle$
2019 2020 2021 2022 2023 2024 2025E 2026E	reduced lille to market			·

¹⁾ Includes content supplied by S&P Global Market Intelligence; Copyright © S&P Global Market Intelligence, 2025. All rights reserved. 2) % of Group revenues YTD/25, 21% in adjacent industries

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Selected Orders Received

Adjacent Industries

Semiconductor Manufacturer Germany Technologies

Prefabrication and installation of the wastewater treatment system for resource-efficient chip production

Energy

E.ON Sweden E&M Europe

Prefabrication and assembly of heat accumulator to increase reliability and sustainability of district heating supply

Oil & Gas

KNPC Kuwait E&M International

Comprehensive front-end engineering design services for new North Oil Pier, enhancing operational efficiency

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Innovation: Bilfinger DRIS 2.0

Efficient inspection under insulation during routine operations

• Moisture causes ice on pipes and equipment where insulation is defect or missing
• Inspection and renewal of insulation is only possible during plant shutdown to avoid corrosion

• Tight turnaround schedules

• Portable system to reduce dew point around pipes, preventing formation of moisture and ice

• Safe removal of insulation at very low temperatures without risk of corrosion
• De-insulation and inspection can be carried out while equipment is live

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Bilfinger Demand

Opportunity pipeline [indexed on July 2023]

Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep

Orders received [€ million]

Order backlog [€ million]

Q3 Development

Orders received

• Stable demand in a volatile market environment
• Larger order intake in the Chemical, Semiconductor production, and Hydrogen production sectors

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Group | Revenue Development

Revenue [€ million] | Book-to-Bill

Change	abs.	org.
E&M Europe	+5%	+2%
E&M International	+8%	+14%
Technologies	+24%	+25%

Revenue split [%]

Q3 Development

• Growth in all segments
• Growth in the Oil & Gas, Energy, and Pharma & Biopharma industries
• Decline in Chemicals & Petrochemicals

{8}------------------------------------------------

Group | Performance

Revenue [€ million] | Book-to-Bill [ratio]

• Growth in all segments
• Growth in the Oil & Gas, Energy, and Pharma & Biopharma industries
• Decline in Chemicals & Petrochemicals

Gross profit | SG&A [€ million, %]

• Gross profit at prior year level
• Improvement in SG&A ratio

EBITA [€ million, %]

▪ Margin slightly below prior-year quarter, as expected

-3 1 -1 0 -1

∆ abs. / org.

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Segment E&M Europe | Performance

• Organic growth mainly from Oil & Gas industry
• Chemicals & Petrochemicals industry remains challenging, especially in Germany

Orders received [€ million] Revenue [€ million] | Book-to-Bill [ratio]

• Growth from Energy and Oil & Gas industries
• Chemicals & Petrochemicals industry remains challenging

EBITA [€ million, %]

• Profitability continues to improve over the course of the year due to efficiency gains
• Margin below prior-year quarter

¹⁾ Restatement of 2024 figures due to change in allocation of entities: Orders received +2; revenue +2; EBITA 0

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Segment E&M International | Performance

• Growth compared to previous year due to a mix of framework additions as well as contract awards
• US market remains cautious due to political uncertainties
• Middle East with growth in Oil & Gas industry

Orders received [€ million] Revenue [€ million] | Book-to-Bill [ratio]

• Revenue growth predominantly in Middle East region as well as in North America in the Maintenance business
• Oil & Gas industry with growth rates

EBITA [€ million, %]

• In line with expectations and outlook
• Both regions are contributing

¹⁾ Restatement of 2024 figures due to change in allocation of entities: Orders received -2; revenue -2; EBITA 0

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Segment Technologies | Performance

• Continue to benefit from investment cycle in Pharma & Biopharma
• Slight growth in the nuclear and energy transition business lines

Orders received [€ million] Revenue [€ million] | Book-to-Bill [ratio]

• Growth driven by strong order intake in previous quarters
• Delays in energy transition business line

EBITA [€ million, %]

• Margin improvement due to improved Operational Excellence
• Improvement of +90 bps in comparison to Q3/24

{12}------------------------------------------------

Group | Net Profit and Earnings per Share

Q3 Development

Financial result

In line with previous year

Taxes

Tax rate increased from 21% to 25%

Net profit / Earnings per share

■ 1% increase year-over-year

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Group | Cash flow and Working Capital

Operating cash flow [€ million] Free cash flow [€ million] Net Trade Assets / Revenue [%]

▪ Continued efficient working capital management

▪ Positive contributions from all segments ▪ Improved receivables position in relation to revenue

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Group | Net Liquidity and Leverage

Net liquidity [€ million] Net debt / EBITDA [ratio]1)

Leverage < 2.0

1) S&P definition

{15}------------------------------------------------

Segments | Outlook

[€ million, %]		Actual YTD 2024	Actual YTD 2025	Previous Outlook FY 2025	Updated Outlook FY 2025
	Revenue	2,556	2,740	3,500 to 4,000	3,600 to 3,900
E&M Europe1)	EBITA margin	5.8%	5.7%	5.8 to 6.4%	5.8 to 6.2%
	Revenue	516	551	700 to 800	700 to 800
E&M International2)	EBITA margin	-0.4%	3.1%	2.0 to 4.0%	2.0 to 4.0%
	Revenue	538	629	750 to 850	800 to 850
Technologies	EBITA margin	5.5%	6.6%	6.3 to 6.8%	6.8 to 7.2%
Reconciliation	Revenue	65	85	80 to 130	90 to 120
Group	EBITA	14	-4	-20 to 5	-10 to 5

¹⁾ Restatement of 2024 figures due to change in allocation of entities: revenue +2; EBITA +0

²⁾ Restatement of 2024 figures due to change in allocation of entities: revenue -2; EBITA -0

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Group | Outlook

[€ million, %]	Actual YTD 2024	Actual YTD 2025	Previous Outlook FY 2025	Updated Outlook FY 2025	Mid-term targets 2025-2027
Revenue	3,676	4,004	5,100 to 5,700	5,300 to 5,500	4 - 5% CAGR
EBITA margin	5.2%	5.3%	5.2 to 5.8%	5.4 to 5.6%	6 - 7%
Free cash flow	105 1)	233	210 to 270 1) 2)	300 to 360 1) 2)	> 80% Cash Conversion

¹⁾ Including a mid double-digit million amount cash-inflow due to completion of a legal proceeding

²⁾ Including ~ €30 million special items cash-out integration expenses acquired business and Efficiency Program

¹⁷ Bilfinger | Q3 2025 Results | November 13, 2025

{17}------------------------------------------------

Highlights | Q3 2025

Stable development

in a volatile market

+1% / org. 0%

Orders Received

€ 1,360 million

+8% / org. +7%

Revenue

€ 1,384 million

5.8%

EBITA margin

from 6.0%

€ 1.47

Earnings per share

from € 1.45

€ 71 million

Free Cash Flow

from € 55 million

Updated Outlook

Revenue € 5.3 – 5.5 bn EBITA margin 5.4 – 5.6 %

New mid-term targets

Capital Markets Day

Dec 2, 2025

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Quarterly Statement Q3 2025

Financial Backup

{19}------------------------------------------------

Segment Development Q3 2025

Reconciliation Group

											Ket	oncilial	ion Gre	Jup			_
	E&I	M Euro	pe	E&M	Internat	tional	Tec	hnolog	ies	HQ/C	onsolida Other	ation /	Othe	r Opera	tions		Group
[€ million]	Q3/25	Q3/24	$\Delta$ in %	Q3/25	Q3/24	$\Delta$ in $\%$	Q3/25	Q3/24	Δ in %	Q3/25	Q3/24	Δ in %	Q3/25	Q3/24	$\Delta$ in $\%$	Q3/25	Q3/24	$\Delta$ in $\%$
Orders received	894	860	+4%	192	175	+10%	270	268	0%	-23	-19	-	28	59	-53%	1,360	1,344	+1%
Order backlog	2,887	2,563	+13%	576	550	+5%	897	877	+2%	-10	-15	-	62	133	-54%	4,412	4,109	+7%
Revenue	936	893	+5%	182	169	+8%	239	192	+24%	-22	-9	-	49	39	+27%	1,384	1,284	+8%
SG&A	-50	-53	-6%	-14	-12	+23%	-13	-12	+10%	-1	0	-	-2	-2	+11%	-80	-78	+2%
EBITDA	79	78	+2%	10	-7	-	21	15	+36%	-3	13	-	5	7	-29%	111	106	+5%
EBITDA margin	8.5%	8.7%		5.3%	-4.2%		8.8%	8.1%		-	-		10.1%	18.1%		8.1%	8.3%
EBITA	57	56	+2%	7	-9	-	19	13	+42%	-6	10	-	4	7	-32%	81	76	+6%
EBITA margin	6.1%	6.3%		4.0%	-5.4%		7.8%	6.9%		-	-		9.1%	16.9%		5.8%	6.0%
Special items EBITA	0	-3	-	0	0	-	0	0	-	0	0	-	0	0	-	-1	-3	-
Amortization	-2	0	-	0	0	-	0	0	-	0	0	-	0	0	-	-2	0	-
Depreciation	-22	-22	-	-2	-2	-	-2	-2	-	-3	-3	-	-1	0	-	-31	-30	-
Investments in P, P & E	9	8	+3%	1	1	+5%	1	1	+47%	1	1	+57%	0	0	-	12	11	+9%
Increase in right- of-use assets	7	6	+10%	2	1	+179%	1	1	-50%	1	2	-39%	0	1	-	10	11	-5%
Employees	22,949	22,916	0%	5,711	5,404	+6%	1,703	1,702	0%	579	539	+7%	740	733	+1%	31,682	31,294	+1%

{20}------------------------------------------------

Segment Development YTD 2025

											Red	concilia	tion Gr	oup
	E&I	M Europ	)e	E&M I	nternati	ional	Tec	hnolog	ies	HQ/C	Consolid Other	ation /	Othe	er Opera	tions		Group
[€ million]	YTD/25	YTD/24	Δin %	YTD/25	YTD/24	Δ in %	YTD/25	YTD/24	Δin %	YTD/25	YTD/24	Δ in %	YTD/25	YTD/24	Δin %	YTD/25	YTD/24	Δ in %
Orders received	2,962	2,698	+10%	632	527	+20%	730	688	+6%	-59	-55	-	139	139	0%	4,405	3,997	+10%
Order backlog	2,887	2,563	+13%	576	550	+5%	897	877	+2%	-10	-15	-	62	133	-54%	4,412	4,109	+7%
Revenue	2,740	2,556	+7%	551	516	+7%	629	538	+17%	-73	-54	-	158	119	+32%	4,004	3,676	+9%
SG&A	-157	-146	+8%	-41	-35	+14%	-40	-37	+8%	-9	-13	-	-6	-6	+10%	-253	-237	+6%
EBITDA	225	209	+8%	24	4	+447%	48	36	+35%	-16	5	-	23	19	+20%	304	273	+11%
EBITDA margin	8.2%	8.2%		4.4%	0.9%		7.7%	6.7%		-	-		14.3%	15.7%		7.6%	7.4%
EBITA	157	148	+6%	17	-2	-	42	29	+41%	-25	-3	-	21	17	+22%	212	190	+12%
EBITA margin	5.7%	5.8%		3.1%	-0.4%		6.6%	5.5%		-	-		13.3%	14.5%		5.3%	5.2%
Special items EBITA	-2	6	-	0	0	-	0	0	-	1	0	-	0	0	-	-1	7	-
Amortization	-5	-1	-	0	0	-	0	0	-	0	0	-	0	0	-	-5	-1	-
Depreciation	-67	-60	-	-7	-6	-	-7	-7	-	-9	-9	-	-1	-1	-	-92	-83	-
Investments in P, P & E	28	35	-19%	5	3	+57%	2	2	-2%	3	2	+100%	2	1	+90%	41	43	-5%
Increase in right- of-use assets	22	18	+20%	3	4	-20%	1	3	-57%	8	3	+157%	0	1	-54%	34	28	+20%
Employees	22,949	22,916	0%	5,711	5,404	+6%	1,703	1,702	0%	579	539	+7%	740	733	+1%	31,682	31,294	+1%

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Revenue Split

			E&M Europe		E&M International		Technologies		Group
		YTD/25	YTD/24	YTD/25	YTD/24	YTD/25	YTD/24	YTD/25	YTD/24
	Chemical & Petrochemical	33%	34%	8%	11%	2%	10%	23%	25%
	Energy	18%	16%	14%	15%	34%	34%	23%	22%
Industry Split	Oil & Gas	24%	22%	19%	14%	6%	3%	20%	17%
	Pharma & Biopharma	6%	7%	0%	0%	55%	48%	13%	12%
	Adjacent Industries	19%	21%	59%	60%	3%	5%	21%	24%
Contract Split	Frame and service contracts	66%	73%	78%	72%	1%	1%	57%	62%
	Projects	34%	27%	22%	28%	99%	99%	43%	38%

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Profit and Loss Statement

[€ million]	Q3/25	Q3/24	∆ in %	YTD/25	YTD/24	∆ in %
Revenue	1,384.1	1,283.8	+8%	4,004.4	3,675.6	+9%
Gross profit	156.2	157.8	-1%	452.9	409.1	+11%
Selling and administrative expenses	-80.2	-78.5	+2%	-252.8	-237.4	+6%
Impairment losses and reversal of impairment losses (as per IFRS 9)	-0.5	0.1	-	-2.0	0.3	-
Other operating income and expense	1.7	-4.6	-	3.0	13.1	-77%
Income from investments accounted for using the equity method	2.0	1.4	+47%	5.4	3.8	+42%
Earnings before interest and taxes (EBIT)	79.1	76.2	+4%	206.6	188.9	+9%
Amortization of int. assets from acquisitions and goodwill impairments (IFRS 3)	-1.7	-0.3	-	-5.2	-0.8	-
Earnings before interest, taxes and amortization of intangible assets (EBITA)	80.8	76.4	+6%	211.8	189.7	+12%
Special items in EBITA 1	-0.7	-2.7	-	-1.4	6.6	-
Depreciation PP&E	30.7	29.6	+3%	92.3	83.5	+11%
thereof depreciation of right-of-use assets from leases	16.0	15.7	+2%	49.3	44.0	+12%
Earnings before interest, taxes, depreciation and amortization (EBITDA)	111.5	106.1	+5%	304.0	273.2	+11%
Financial result	-4.9	-5.4	-10%	-14.2	-16.0	-11%
Earnings before taxes (EBT)	74.3	70.8	+5%	192.4	172.9	+11%
Income taxes	-18.5	-14.8	+25%	-53.1	-42.4	+25%
Earnings after taxes EAT (continuing operations)	55.8	56.0	0%	139.3	130.5	+7%
Earnings after taxes EAT (discontinued operations)	0.0	0.3	-	-0.2	1.6	-
Minority interests	-1.2	-1.8	-	-5.3	-4.5	-
Net profit	54.6	54.6	0%	133.8	127.6	+5%
Earnings per share (in €)	1.47	1.45	+1%	3.59	3.40	+6%
For information: adjusted Net profit	54.8	52.1	+5%	139.9	117.4	+19%
Adjusted Earnings per share (in €)	1.48	1.39	+6%	3.76	3.13	+20%

1 Special items EBITA [in € million]
	Q3/25
Badwill / Add. gain from PPA	2
Integration of acquisition	0
M&A, Others	-3
Total	-1

{23}------------------------------------------------

Consolidated Balance Sheet: Assets

	[€ million]	9/30/25	6/30/25	$\Delta$ in %	9/30/25	12/31/24	$\Delta$ in %
Non-current assets		1,382.7	1,396.7	-1%	1,382.7	1,399.7	-1%
Intangible assets		822.2 (	823.7	0%	822.2	813.8	+1%
Property, plant and equipment		280.9	284.8	-1%	280.9	287.1	-2%
Right of use assets from leases		178.2	182.5	-2%	178.2	188.4	-5%
Investments accounted for using the equity method		14.6	14.9	-2%	14.6	16.7	-12%
Other financial assets		6.4	6.5	-1%	6.4	6.2	+2%
Deferred taxes		80.4	84.2	-5%	80.4	87.4	-8%
Current assets		2,076.5	2,064.2	+1%	2,076.5	2,063.8	+1%
Inventories		117.6	116.0	+1%	117.6	115.1	+2%
Receivables and other financial assets		1,362.9	1,392.6	-2%	1,362.9	1,397.0	-2%
Current tax assets		22.4	12.3	+83%	22.4	10.6	+111%
Other assets		105.1	113.1	-7%	105.1	76.0	+38%
Securities		0.0	0.0	-	0.0	0.0	-
Marketable securities		0.0	0.0	-	0.0	0.0	-
Cash and cash equivalents		468.6	430.2	+9%	468.6	465.0	+1%
Assets classified as held for sale		0.0	0.0	-	0.0	0.0	-
Total		3,459.2	3,460.8	0%	3,459.2	3,463.5	0%

Goodwill decreased to €802 million (6/25: €803 million)

{24}------------------------------------------------

Consolidated Balance Sheet: Equity & Liabilities

[€ million]	9/30/25	6/30/25	$\Delta$ in %	9/30/25	12/31/24	$\Delta$ in %
Equity	1,308.6(	1,258.5	+4%	1,308.6	1,311.3	0%
Equity attributable to shareholders of Bilfinger SE	1,298.2	1,249.6	+4%	1,298.2	1,300.9	0%
Attributable to minority interests	10.3	8.8	+17%	10.3	10.4	0%
Non-current liabilities	481.8	489.7	-2%	481.8	631.5	-24%
Provisions for pensions and other obligations	249.3	251.1	-1%	249.3	266.2	-6%
Other provisions	23.0	23.6	-3%	23.0	24.8	-7%
Financial debt	186.8	191.3	-2%	186.8	317.3	-41%
Other liabilities	0.5	1.0	-53%	0.5	1.4	-65%
Deferred taxes	22.3	22.6	-1%	22.3	21.9	+2%
Current liabilities	1,668.8	1,712.7	-3%	1,668.8	1,520.7	+10%
Current tax liabilities	48.7	36.9	+32%	48.7	35.4	+38%
Other provisions	153.2	152.3	+1%	153.2	167.8	-9%
Financial debt	179.1	177.7	+1%	179.1	59.3	+202%
Trade and other payables	1,022.7	1,056.9	-3%	1,022.7	1,000.5	+2%
Other liabilities	265.2	288.9	-8%	265.2	257.8	+3%
Liabilities classified as held for sale	0.0	0.0	-	0.0	0.0	-
Total	3,459.2	3,460.8	0%	3,459.2	3,463.5	0%

1 Equity ratio increased to 38% (6/30/25: 36%)

{25}------------------------------------------------

Net Liquidity | Cash Flow Development Excluding IFRS 16

Net Trade Assets / DSO / DPO

Net liquidity1) [€ million] Cash flow development year-to-date excl. IFRS 16 [€ million]

	Q3 2025 incl. IFRS 16	IFRS 16 impacts	Q3 2025 excl. IFRS 16	Q3 2024 excl. IFRS 16
EBITA	212		212	190
Depreciation	92	-49	43	39
Change in NWC	14		14	-111
Other non-cash income / expenses	-4		-4	0
Interest received	13		13	21
Income tax payments	-44		-44	-26
Change in non-current assets / liabilities	-10		-10	-5
Others 2)	-4	-7	-11	-16
Operating CF	269		213	92
Net CAPEX	-36		-36	-40
Free CF	233		177	52
Proceeds/Investments financial assets	-24		-24	-14
Share buyback program	-38		-38	0
Changes in marketable securities	0		0	190
Dividends	-89		-89	-67
Change in financial debt	-50	50	0	-250
Interest paid	-16	6	-10	-20
FX / other / DiscOp	-12		-12	-10
Change in Cash	4		4	-119

¹⁾ Including IFRS 16 leases | 2) Gains / losses from disposal of non-current assets / Income from investments accounted for using the equity method / Dividends received

{26}------------------------------------------------

Consolidated Statement of Cash Flows [1/2]

[€ million]	Q3/25	Q3/24	$\Delta$ in %	YTD/25	YTD/24	$\Delta$ in %
EBITDA	111.5	106.1	+5%	304.0	273.2	+11%
Change in advance payments received	-40.2	27.9	-	-35.7	40.9	-
Change in trade receivables	6.2	40.0	-85%	3.9	-18.7	-
Change in trade payables and advance payments made	22.8	-66.2	-	80.9	-13.4	-
Change in net trade assets	-11.3	1.7	-	49.1	8.8	+456%
Change in current provisions	0.8	-3.0	-	-11.0	-27.2	-
Change in other current assets (including other inventories) and liabilities	-9.4	-34.0	-	-24.0	-92.5	-
Change in working capital	-19.8	-35.3	-	14.1	-110.9	-
Change in non-current assets and liabilities	2.1	-5.1	-	-9.4	-4.9	-
Gains / losses from disposal of non-current assets	-2.3	-0.1	-	-5.1	-4.6	-
Income from investments accounted for using the equity method	-2.0	-1.4	-	-5.4	-3.8	-
Dividends received	2.6	0.2	>+999%	6.4	1.7	+272%
Interest received	4.7	4.8	-1%	13.2	20.6	-36%
Income tax payments	-13.9	-3.5	-	-43.9	-26.5	-
Other non-cash income / expense	-2.4	0.0	-	-4.3	0.0	-
Operating cash flow (OCF)	80.4	65.7	+22%	269.4	144.7	+86%
Investments in property, plant and equipment and intangible assets	-12.3	-11.3	-	-40.9	-43.2	-
Payments received from the disposal of P, P & E and intangible assets	2.6	0.3	+668%	4.5	3.2	+39%
Net cash outflow for P, P & E and intangible assets (net capex)	-9.8	-10.9	-	-36.4	-40.0	-
Free cash flow (FCF)	70.7	54.7	+29%	233.0	104.8	+122%
thereof special items in free cash flow	-7.0	-4.3	_	-17.8	-25.3	_

Thereof restructuring - €1 million, integration costs - €4 million and M&A - €2 million

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Consolidated Statement of Cash Flows [2/2]

[€ million]	Q3/25	Q3/24	$\Delta$ in %	YTD/25	YTD/24	$\Delta$ in %
Free Cash Flow (FCF) [carry over]	70.7	54.7	29%	233.0	104.8	122%
Proceeds from / payments made for the disposal of financial assets	0.0	0.0	-	0.6	-0.8	-
Investments in financial assets	0.01	-5.51	_	-24.5	-13.5	-
Changes in marketable securities	0.0	0.0	-	0.0	190.5	-
- Share buyback	-13.92	0.0	-	-38.2	0.0	-
- Dividends	0.0	0.0	-	-96.7	-73.0	-
- Changes in ownership interest without change in control	0.0	-0.7	-	0.0	-0.7	-
- Borrowing	0.0	0.0	-	0.0	0.0	-
- Repayment of financial debt	-16.8	-16.4	-	-50.0	-297.1	-
- Interest paid	-3.4	-6.3	-	-15.8	-26.1	-
Cash flow from financing activities of continuing operations	-34.1	-23.4	-	-200.8	-396.8	-
Change in cash and cash equivalents of continuing operations	36.5	25.8	42%	8.3	-115.9	-
Change in cash and cash equivalents of discontinued operations	0.9	-1.0	_	-1.5	-5.3	-
Change in value of cash and cash equivalents due to changes in foreign exchange rates	1.0	0.2	336%	-3.2	1.9	-
Change in cash and cash equivalents	38.4	25.0	53%	3.6	-119.3	-
Cash and cash equivalents at January 1 / April 1	430.2	394.1	9%	465.0	538.4	-14%
Change in cash and cash equivalents of assets classified as held for sale	0.0	0.0	-	0.0	0.0	-
Cash and cash equivalents at June 30	468.6	419.1	12%	468.6	419.1	12%

1 Purchase price for acquisitions

Share buyback: As per September 30, 2025 a total of 532,307 have been purchased

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Capital Allocation

¹⁾ Dividend Policy: payout ratio between 40 and 60% of adjusted net profit and continuous growth

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Your Bilfinger IR Team

Director Investor Relations Phone: +49 (0) 69 / 580020-015 jasmin.dentz@bilfinger.com

Director Group Investor Relations External Reporting Phone: +49 (0) 621 / 459-2455 sascha.bamberger@bilfinger.com

Manager Investor Relations Phone: +49 (0) 621 / 459-3880 nicola.bursitzky@bilfinger.com

Jasmin Dentz Sascha Bamberger Nicola Bursitzky Maximilian H. W. Zabel

Manager Investor Relations Phone: +49 (0) 621 / 459-2486 maximilian.zabel@bilfinger.com

Financial calendar

December 2, 2025 – Capital Markets Day 2025

March 4, 2026 – Publication of Annual financial statements 2025

May 13, 2026 – Quarterly Statement Q1 2026

May 20, 2026 – Annual General Meeting

August 12, 2026 – Quarterly Statement Q2 2026

November 11, 2026 – Quarterly Statement Q3 2026

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Disclaimer

This document contains forward-looking statements, which are predictions, projections or other statements about future events. Such statements are based on plans, expectations, forecasts and assumptions as they are currently available to Bilfinger's management. Forward-looking statements and information speak only as of the date they are made, and Bilfinger neither intends nor assumes any obligation to update publicly or revise these forward-looking statements in light of future events or developments which differ from those anticipated. By their nature, forward-looking statements are subject to risks and uncertainties, including a negative change in market conditions, events of force majeure or changes in laws, regulations and government policies. A variety of such factors, many of which are beyond Bilfinger's control, could cause actual results, performance figures or events to differ significantly from those expressed or implied in the forward-looking statements.

The information contained in this document may comprise financial and similar information which is neither audited nor reviewed and should be considered preliminary and subject to change. It may also include data provided by third parties. Any such data is taken or derived from information published by sources that Bilfinger believes to be credible. Bilfinger has not independently verified the third-party data and makes no warranties as to its accuracy or completeness.

Due to rounding, numbers presented throughout this document may not add up in all cases precisely to the totals provided and percentages may not precisely reflect the absolute figures.

This document is being presented solely for informational purposes and does not constitute any form of investment advice or an offer or invitation to subscribe for or purchase any securities.

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Your Performance Is Our Business