Webuild — M&A Activity 2023

Jan 19, 2023

PRESS RELEASE

WEBUILD: NEGOTIATIONS END SUCCESSFULLY WITH DELOITTE ADMINISTRATORS AND CLIENTS TO DEFINE PERIMETER OF CLOUGH ACQUISITION

• Guaranteed continuity of Clough strategic projects and secured more than 1,000 jobs
• New terms on projects to guarantee accretive conditions for Webuild
• Clough to serve as platform for Webuild in Australia, a strategic market with strong growth prospects estimated at €300 billion in 2022-2025

MILAN, January 19 2023 - Webuild announces it has completed negotiations and is close to finalising an agreement with the Deloitte Administrators of Clough Limited in Australia to expand the Group's acquisition perimeter to include a number of additional projects. The acquisition guarantees business continuity, the delivery of high quality works to clients and, most of all, safeguards the employment of Clough personnel with their unique expertise and know-how. The transaction reaffirms Webuild's commitment to strengthen its presence in Australia, which is Group's second core market.

As announced last year on December 14 and December 22, Webuild and the Deloitte Administrators reached an initial agreement that included the Group's acquisition of a base perimeter of Clough's Australian organisation (including offices, brand, credentials, business references, senior management, office personnel, as well as stakes in projects) and its share in the Snowy 2.0 and Inland Rail contracts. This agreement included an option to expand the scope of the transaction to include additional projects if accretive conditions for Webuild were to be guaranteed.

Webuild - together with Deloitte and Clough senior management - have now concluded preliminary negotiations with several key stakeholders to expand the scope of the transaction to additional projects that will benefit from amended contractual terms. Webuild and Deloitte as Clough's Administrators will continue to engage with stakeholders during the coming weeks to finalise the agreements and satisfy outstanding conditions in order to complete the overall transaction. More details on the scope of the transaction and its completion will be provided in the coming days.

Australia is Webuild's second largest market after Italy with an order backlog of €8.9 billion, including projects for which the Group is preferred bidder. The market has potential construction contracts estimated in excess of €300 billion for the 2022-2025 period.

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With more than 1,800 employees, Webuild is expanding its operations in Australia. It recently delivered the Airport Line in Perth, a rail service connecting the eastern suburbs with the Central Business District via the airport. It will take part in the construction of the Sydney Metro-Western Sydney Airport project that connect the city to the new airport. It is working on the North East Link, the missing section of Melbourne's beltway. It belongs to a consortium that is the preferred bidder for the construction of a section of Inland Rail, designed to improve freight transport between Brisbane and Melbourne. In the Snowy Mountains, the Group is working on Snowy 2.0, the largest hydropower project in the country.

Founded in Perth in 1919, Clough is a pioneer in the country's construction industry. Landmark projects include the National Mutual Building, the first high-rise in Perth, and the Graham Farmer Freeway, the first major underground freeway tunnel in Western Australia.

Webuild, the new Group born in 2020 from Salini Impregilo, is a leading global player in the construction of large, complex projects for sustainable mobility (rail, metro, bridges, roads, ports), hydropower (dams, power plants), water (treatment and desalination plants, wastewater management, irrigation dams) and green buildings (civil and industrial buildings, airports, stadiums, hospitals). It supports clients in achieving the Sustainable Development Goals (SDGs) established by the United Nations. The Group ranks first in the world for the construction of infrastructure in the water sector. Since 2018, it is also among the top 10 companies by revenue generated from environmental services. Webuild is the expression of 116 years of engineering experience applied in 50 countries with 80,000 direct and indirect employees from more than 100 nationalities. Iconic projects, completed or under construction, include the M4 metro line in Milan, a section of Line 16 of the Grand Paris Express, Cityringen in Copenhagen, the viaduct and bridge for Sydney Metro Northwest in Australia, Red Line North Underground in Doha, Line 3 of Riyadh Metro and high-speed railways in Italy. Others include the Genova San Giorgio Bridge in Italy, the Long Beach International Gateway Bridge in Long Beach, California, the expansion of the Panama Canal, the Snowy 2.0 hydroelectric scheme in Australia, the Rogun hydroelectric dam in Tajikistan, the Anacostia River and Northeast Boundary hydraulic tunnels in Washington, D.C., and the Al Bayt 2022 World Cup stadium in Qatar. At June 30, 2022, the Group had a total order backlog amounting to more than €47 billion, with 90% of the construction backlog relating to projects linked to SDGs. Webuild, subject to direction and coordination by Salini Costruttori S.p.A., is headquartered in Italy and is listed on the Milan stock exchange (Borsa Italiana: WBD; Reuters: WBD.MI; Bloomberg: WBD:IM).

More information at www.webuildgroup.com

Contacts: Media Relations Investor Relations Gilles Castonguay Amarilda Karaj Tel. +39 342 682 6321 Tel +39 02 444 22476 email: gr.castonguay@webuildgroup.com email: a.karaj@webuildgroup.com