#1Bahr El Baqar Water Treatment Plant, Egypt FY 2021 Results Presentation 22 March 2022 ORASCOMA CONSTRUCTION#2Table of Contents Section Financial Highlights Summary Financials Consolidated Backlog Pro Forma Snapshot Including BESIX Construction Materials and Investments Financial Statements ORASCOM CONSTRUCTION Page 1 2-3 4-6 7 8 9-14#3Financial Highlights ■ Revenue increased 5.1% y-o-y to USD 3,542.9 million and consolidated EBITDA increased 3.3% y-o-y to USD 204.4 million in FY 2021 ■ Net income attributable to shareholders increased 24.8% y-o-y to USD 113.4 million in FY 2021 ■ Net cash position increased to USD 441.6 million as of 31 December 2021 and positive operating cash flow increased to USD 201.2 million in FY 2021 ■ Consolidated backlog increased 12.0% y-o-y to USD 6.1 billion as of 31 December 2021 and new awards increased 22.1% y-o-y to USD 3.6 billion in FY 2021 Management had indicated that the Group has an active bidding pipeline, which is now demonstrated by record backlog ■ BESIX reported a standalone backlog of EUR 4.9 billion and new awards of EUR 3.5 billion in FY 2021 ■ Pro forma backlog including 50% share in BESIX increased 10.3% y-o-y to USD 8.9 billion and pro forma new awards increased 32.5% y-o-y to USD 5.6 billion in FY 2021 ORASCOM CONSTRUCTION 1#4Summary Income Statement USD million Revenue by Geography - FY 2021 FY 2021 FY 2020 Change Q4 2021 Q4 2020 Change Revenue MEA 3,542.9 3,371.1 5.1% 1,000.2 927.8 7.8% USA 29.4% 2,492.8 2,107.3 18.3% 717.0 594.9 20.5% USA 1,050.1 1,263.8 (16.9)% 283.2 332.9 (14.9)% EBITDA MEA USA EBITDA margin 204.4 197.8 3.3% 58.1 47.5 22.3% Other MEA 3.6% Egypt 184.7 184.6 0.0% 49.4 45.7 8.1% 67.0% 19.7 13.2 49.2% 8.7 1.8 383.3% 5.8% 5.9% 5.8% 5.1% Revenue by Geography - FY 2020 MEA margin 7.4% 8.8% 6.9% 7.7% USA margin 1.9% 1.0% 3.1% 0.5% Net income attrib. to shareholders 113.4 90.9 24.8% 37.1 25.9 43.2% USA 37.5% MEA 81.4 87.8 (7.3)% 18.1 19.8 (8.6)% Egypt 60.4% USA 16.3 9.3 75.8% 8.3 3.8 118.4% BESIX 15.7 (6.2) 353.2% 10.7 2.3 365.2% Other MEA Net income margin 3.2% 2.7% 3.7% 2.8% 2.1% MEA margin 3.3% 4.2% 2.5% 3.3% USA margin 1.6% 0.7% 2.9% 1.1% ORASCOM CONSTRUCTION Note: Financial statements and commentary on pages 9-14 2#5Net Cash Position Net cash position of USD 441.6 million as of 31 December 2021 Evolution of Debt and Cash (USD Million) $434 $261 Cash $474 Total debt Net debt $403 $375 $375 $96 $115 $334 $343 $194 $192 $506 $348 $204 $64 31 Dec 17 31 Dec 18 31 Dec 19 31 Dec 20 31 Mar 21 30 Jun 21 30 Sep 21 31 Dec 21 Debt and Equity Summary Based on IFRS Statements USD million 31 Dec 17 31 Dec 18 31 Dec 2019 31 Dec 2020 31 Mar 2021 30 Jun 2021 30 Sep 2021 31 Dec 2021 Cash 434.2 402.5 374.8 473.8 333.9 343.0 348.3 505.7 Total debt 260.7 375.3 95.7 115.2 193.7 191.7 203.6 64.1 Net debt (173.5) (27.2) (279.1) (358.6) (140.2) (151.3) (144.7) (441.6) Total equity 402.5 471.5 585.7 641.9 657.8 656.0 680.0 688.6 ND/equity (0.43) (0.06) (0.48) (0.56) (0.21) (0.23) (0.21) (0.64) EBITDA 212.9 207.1 268.2 197.8 51.0(1) 100.4(2) 146.2(3) 204.4(4) ORASCOM CONSTRUCTION (1) Q1 2021 EBITDA; (2) H1 2021 EBITDA; (3) 9M 2021 EBITDA; (4) FY 2021 EBITDA 3#6Consolidated Backlog Current backlog size and quality supports the Group's revenue and profitability targets Focus on pursuing quality projects where the Group has a competitive edge and is confident in the source of funding Evolution of Consolidated Backlog (USD Billion) (1) $5.4 $4.6 $4.3 $5.4 Consolidated ■Backlog ■New Awards $6.1 $3.6 $3.6 $2.9 $2.3 $2.2 2017 2018 2019 Backlog and New Awards 2020 2021 USD million FY 2021 FY 2020 Change Q4 2021 Q4 2020 Change Equity consolidation Backlog New Awards 6,089.7 3,562.4 5,439.4 12.0% 2,918.8 22.1% 796.9 920.2 (13.4)% Pro forma inc. 50% of BESIX Backlog New Awards 8,864.5 8,037.0 10.3% 5,610.0 4,235.2 32.5 1,286.7 1,389.5 (7.4)% ORASCOM (1) Backlog/new awards chart excludes BESIX and JV's accounted for under the equity method CONSTRUCTION Consolidated backlog (excluding BESIX) increased 12.0% y-o-y to USD 6.1 billion in FY 2021 Consolidated new awards increased 22.1% y-o-y to USD 3.6 billion in FY 2021 MEA New awards of USD 2.0 billion in FY 2021, of which $434.2 million were in Q4 2021 New awards in FY 2021 across railway, roads/highways, healthcare, water and industrial sectors USA ☐ ■ New awards of USD 1.6 billion in FY 2021, of which USD 362.7 million were in Q4 2021 New awards in FY 2021 represent an increase of 72% y-o-y Led by sizable projects across the data center, student housing, commercial and light industrial sectors 4#7Consolidated Backlog Breakdown - 31 December 2021 USA 22.0% Backlog by Geography Other 3.8% Commercial 29.9% Backlog by Sector Saudi Arabia 3.2% Private 28.6% Backlog by Client Egypt 71.0% Industrial 16.0% Public 71.4% EGP 41.6% Backlog by Currency (1) Infrastructure 54.1% FCY & FCY- priced 58.4% ORASCOM CONSTRUCTION (1)41% of backlog in Egypt is in FCY. The Group incorporates cost escalation clauses in most EGP contracts to protect against potential cost inflationary pressures Note: Backlog breakdown as of 31 December 2021; backlog excludes BESIX and JV's accounted for under the equity method 5#8Evolution of Backlog by Geography Consolidated Backlog by Geography (Excluding BESIX) ORASCOM CONSTRUCTION $4.6 bn $4.3 bn $5.4 bn $5.4 bn $6.1 bn 0.2 0.1 0.2 1.3 0.9 1.2 0.1 0.2 0.2 0.1 0.2 0.3 0.9 1.0 0.2 0.4 3.1 2.9 2017 2018 4.3 4.2 43 3.9 2019 2020 2021 ■Egypt Other USA ■Saudi Arabia ■USA (OCI N.V.) Note: Backlog/new awards chart excludes BESIX and JV's accounted for under the equity method 10 6#9Pro Forma Snapshot Including 50% of BESIX - FY 2021 BESIX's standalone backlog increased 15.6% y-o-y to EUR 4.9 billion as of 31 December 2021 ■ New awards increased 55.4% y-o-y to EUR 3.5 billion in FY 2021 Standalone net debt position of EUR 70 million as of 31 December 2021 BESIX book value of USD 388.9 million in Orascom Construction's noncurrent assets on the balance sheet BESIX 3.0 BESIX Standalone Backlog Evolution (EUR billion) 2017 4.8 2018 4.8 2019 4.2 2020 BESIX Standalone Backlog by Geography Australia 16.3% North America 0.3% Other MENA 2.3% UAE 15.2% Egypt 1.3% Africa 6.4% Europe 58.2% USD million Revenue OC 3,542.9 50% of BESIX 1,755.1 Pro Forma 5,298.0 4.9 EBITDA 204.4 58.0 262.4 Net Income 97.7 15.7 113.4 Net Debt (Cash) (441.6) 39.9 (401.7) Backlog 6,089.7 2,774.8 8,864.5 New Awards 3,562.4 2,047.6 5,610.0 2021 Pro Forma Backlog - 50% of BESIX North America 15.2% Australia 5.1% Other MENA 4.3% UAE 4.8% ORASCOM CONSTRUCTION Note: BESIX is recorded as an equity investment in OC's financial statements; OC net income excludes contribution from BESIX Europe 18.2% Africa 3.3% Egypt 49.2% 7#10Portfolio of Building Materials, Facility Mgmt. and Infrastructure Assets Company NSF ALICO These subsidiaries and investments contributed 19% to the Group's total net income in FY 2021 Ownership FY 2021 Revenue National Steel Fabrication 100% USD 51.2 million UHC UPC 100% USD 24.9 million 56.5% USD 107.4 million 56.6% USD 12.5 million UNITED PAINTS & CHEMICALS NPC scib 40% USD 46.8 million Description " " 14.7% USD 67.7 million Paints Manufactures and supplies fabricated steel products in Egypt and North Africa - total capacity of 120k/year Operates four facilities plants in Egypt and Algeria, two of which are the largest in MENA Manufactures and installs glass, aluminum and architectural metal works Operates facility in Egypt with a capacity of 250k sqm, supplying primarily Egypt and North Africa Holds 50% stakes in BASF Construction Chemicals Egypt, Egyptian Gypsum Company and A-Build Egypt Subs operate from 4 plants in Egypt and Algeria, supplying products primarily in Egypt and North Africa Owns DryMix, Egypt's largest manufacturer of cement-based ready mixed mortars in powdered form used in the construction industry Capable of producing 240k metric tons of product and supplies products to clients in Egypt and North Africa Manufactures precast/pre-stressed concrete cylinder pipes and pre-stressed concrete primarily Two plants located in Egypt supply Egypt and North Africa; production capacity of 86 km/yr of concrete piping Production capacity of 130k kilolitres of decorative paints and industrial coatings primarily for the construction industry Operates two plants in Egypt and supplies products to clients in Egypt and North Africa Egypt's premier facility and property management services provider CON RACKM 100% USD 26.6 million Hard and soft facility management in commercial, hospitality and healthcare SIDC SUEZ INDUSTRIAL DEVELOPMENT COMPANY شركة السويسي للتنمية الصناعية ORASqualia 60.5% USD 10.7 million Owner and developer of an 8.8 million square meter industrial park located in Ain Sokhna, Egypt Provides utility services for light, medium and heavy industrial users in Ain Sokhna, Egypt 50% USD 16.5 million . A 250m³/day wastewater treatment plant; OC is a co-owner and co-operator of the facility Egypt's first Public Private Partnership project RASGHAREB 20% USD 52.3 million The largest renewable energy IPP project in Egypt; a 262.5 MW build-own-operate wind farm under a 20-year Power Purchase Agreement WIND ENERGY S.A.E. " Full commercial operation commenced 45 days ahead of schedule on 31 October 2019 ORASCOM Note: Revenue figures represent 100% of each unit's revenue CONSTRUCTION 8#11ORASCOM CONSTRUCTION Financial Statements#12Income Statement Results Commentary Revenue: Consolidated revenue increased 7.8% y-o-y to USD 1.0 billion in Q4 2021 and 5.1% y-o-y to USD 3,542.9 million in FY 2021 MEA operations comprised 72% of total revenue in Q4 2021 and 70% in FY 2021 while USA operations accounted for the balance EBITDA Consolidated EBITDA increased 22.3% y-o-y to USD 58.1 million in Q4 2021 and 3.3% y-o-y to USD 204.4 million in FY 2021 EBITDA margins increased to 5.8% in Q4 2021 and maintained at 5.8% in FY 2021 EBITDA margins in the U.S. operations improved to 3.1% in Q4 2021 and 1.9% in FY 2021 Income from associates: BESIX records a consecutive quarter of profits in Q4 2021, compensating for losses in H1 2021 Net income contribution from BESIX stood at USD 10.7 million in Q4 2021, bringing total net income contribution in FY 2021 to USD 15.7 million compared to negative USD 6.2 million in FY 2020 USD million Revenue Cost of sales Gross profit Margin Other income FY 2021 FY 2020 Q4 2021 Q4 2020 3,542.9 3,371.1 1,000.2 927.8 (3,196.5) (3,048.3) (896.2) (851.0) 346.4 322.8 104.0 76.8 9.8% 9.6% 10.4% 8.3% 2.3 14.2 (4.3) 9.9 SG&A expenses (192.4) (186.4) (54.2) (52.9) Operating profit 156.3 150.6 45.5 33.8 EBITDA 204.4 197.8 58.1 47.5 Margin 5.8% 5.9% 5.8% 5.1% Financing income & expenses Finance income 11.6 21.3 2.6 9.0 Finance cost (27.9) (31.1) (9.8) (9.1) Net finance cost (16.3) (9.8) (7.2) (0.1) Income from equity acc. Investees 27.8 (3.2) 14.2 4.5 Profit before income tax 167.8 137.6 52.5 38.1 Income tax (42.5) (40.5) (11.4) (7.6) Net profit for the year 125.3 97.1 41.1 30.5 Net Profit attributable to: Owners of the company 113.4 90.9 37.1 25.9 Non-controlling interest 11.9 6.2 4.0 4.6 Net profit for the year 125.3 97.1 41.1 30.5 Net Income: Net income attributable to shareholders increased 43.2% y-o-y to USD 37.1 million in Q4 2021 and 24.8% y-o-y to USD 113.4 million in FY 2021 ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website CONSTRUCTION 10#13Balance Sheet USD million ASSETS Non-current assets Property, plant and equipment Goodwill 31 Dec 2021 31 Dec 2020 Results Commentary 199.2 177.2 13.8 13.8 Trade and other receivables 46.8 47.0 Equity accounted investees 426.4 419.4 Deferred tax assets 41.1 Total non-current assets 727.3 696.4 Current assets Inventories 307.3 288.1 Trade and other receivables 1,462.4 1,473.2 Contracts work in progress 1,099.5 854.5 Current income tax receivables 0.2 2.5 Cash and cash equivalents 505.7 473.8 Total current assets 3,375.1 TOTAL ASSETS 4,102.4 3,092.1 3,788.5 39.0 Non-current assets Total investment in associates includes BESIX at an equity value of USD 388.9 million Current assets: ■ Trade and other receivables as of 31 Dec 2021 include USD 653.1 million in accounts receivables, USD 305.9 million in retentions and USD 281.0 million in supplier advance payments 55% of gross trade receivables as of 31 Dec 2021 are not yet due Contracts work in progress should be assessed along with advance payments ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website CONSTRUCTION 11#14Balance Sheet USD million 31 Dec 2021 31 Dec 2020 Results Commentary EQUITY Share capital Equity: The movement in reserves relates primarily to currency translation differences 116.8 480.2 (289.7) Liabilities: Trade and other payables as of 31 Dec 2021 includes USD 521.0 million in trade payables, USD 545.5 million in accrued expenses and USD 159.5 million in retentions payable to subcontractors Total debt as of 31 Dec 2021 decreased 44.4% y-o-y to USD 64.1 million 116.8 Share premium 480.2 Reserves (305.4) Retained earnings 346.9 288.6 Equity attributable to owners of the Company 638.5 595.9 Non-controlling interests 50.1 46.0 TOTAL EQUITY 688.6 641.9 LIABILITIES Non-current liabilities Loans and borrowings Trade and other payables Deferred tax liabilities 1.2 19.9 49.9 57.1 3.4 3.3 54.5 80.3 Total non-current liabilities Current liabilities Loans and borrowings 62.9 95.3 Trade and other payables 1,531.1 1,402.8 Advance payments from construction contracts 1,361.4 1,086.3 Billing in excess of construction contracts 299.6 383.8 Provisions 59.1 54.7 Income tax payables 45.2 43.4 Total current liabilities 3,359.3 3,066.3 Total liabilities 3,413.8 3,146.6 TOTAL EQUITY AND LIABILITIES 4,102.4 3,788.5 12 ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website CONSTRUCTION#15Cash Flow Statement USD million 31 Dec 2021 31 Dec 2020 Results Commentary 125.3 97.1 Net profit Adjustments for: Depreciation Interest income 48.1 47.2 (8.4) (13.5) Interest expense 20.6 24.4 Foreign exchange gain (loss) and others 4.1 (1.1) Share in income of equity accounted investees (27.8) 3.2 Gain on sale of PPE (3.4) (1.7) 42.5 40.5 Income tax expense Changes in: Inventories Trade and other receivables Contract work in progress Trade and other payables Advanced payments construction contracts Billing in excess on construction contracts Provisions (19.2) 4.9 24.5 (232.4) (245.0) 15.3 95.2 174.6 275.1 (9.8) (84.2) 8.5 4.5 1.4 Cash flows: Interest paid (20.6) (22.7) Interest received 8.4 13.2 Dividends from equity accounted investees 1.9 15.0 Income taxes paid (40.4) (25.9) Cash flow from operating activities 201.2 138.2 Cash flow used in operating activities: Operating cash flow increased 45.6% y-o-y to USD 201.2 million in FY 2021 ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website CONSTRUCTION 13#16Cash Flow Statement USD million Proceeds on sale of an investment in associate 31 Dec 2021 31 Dec 2020 Results Commentary 5.1 (42.7) 6.9 (63.9) 6.3 (35.8) Cash flow used in investing activities: Cash flow used in investing activities of USD 57.6 million in FY 2021 for capital expenditure Cash flow from financing activities: Cash flow used in financing activities of USD 116.4 million in FY 2021 compared to USD 9.0 million in FY 2020 Lower borrowings and much higher dividend paid in FY 2021 compared to FY 2020 Investments in PPE Proceeds from sale of PPE Cash flow used in investing activities (52.5) Proceeds from borrowings 103.2 215.7 Repayment of borrowings (154.3) (196.2) Dividends paid to non-controlling interest (6.9) Dividends paid to shareholders (51.2) (24.5) Other (7.2) (4.0) Cash flow used in financing activities (116.4) (9.0) Net change in cash and cash equivalents 32.3 93.4 Cash and cash equivalents at 1 January 473.8 374.8 Currency translation adjustments (0.4) 5.6 Cash and cash equivalents at 31 December 505.7 473.8 ORASCOM Note: Figures are based on audited financials; full financial statements are available on the corporate website CONSTRUCTION 14#17Important Notice and Disclaimer This document has been provided to you for information purposes only. This document does not constitute an offer of, or an invitation to invest or deal in, the securities of Orascom Construction PLC (the "Company"). The information set out in this document shall not form the basis of any contract and should not be relied upon in relation to any contract or commitment. The issue of this document shall not be taken as any form of commitment on the part of the Company to proceed with any negotiation or transaction. Certain statements contained in this document constitute forward-looking statements relating to the Company, its business, markets, industry, financial condition, results of operations, business strategies, operating efficiencies, competitive position, growth opportunities, plans and objectives of management and other matters. These statements are generally identified by words such as "believe", "expect", "plan", "seek", "continue", "anticipate", "intend", "estimate", "forecast", "project", "will", "may" "should" and similar expressions. These forward-looking statements are not guarantees of future performance. Rather, they are based on current plans, views, estimates, assumptions and projections and involve known and unknown risks, uncertainties and other factors, many of which are outside of the Company's control and are difficult to predict, that may cause actual results, performance or developments to differ materially from any future results, performance or developments expressed or implied from the forward-looking statements. The Company does not make any representation or warranty as to the accuracy of the assumptions underlying any of the statements contained herein. The information contained herein is expressed as of the date hereof and may be subject to change. Neither the Company nor any of its controlling shareholders, directors or executive officers or anyone else has any duty or obligation to supplement, amend, update or revise any of the forward- looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by applicable laws and regulations or by any appropriate regulatory authority. Backlog and new contract awards are non-IFRS metrics based on management's estimates of awarded, signed and ongoing contracts which have not yet been completed, and serves as an indication of total size of contracts to be executed. These figures and classifications are unaudited, have not been verified by a third party, and are based solely on management's estimates. ORASCOM CONSTRUCTION#18Contact Investor Relations: Hesham El Halaby Director [email protected] T: +971 4 318 0900 NASDAQ Dubai: OC EGX: ORAS www.orascom.com ORASCOMA CONSTRUCTION