#180002 DC Alstom Investor Day May 10th, 2023 ALSTOM ⚫ mobility by nature. •#2Agenda ➤ ➤ Operations Danny Di Perna, Executive Vice President and Chief Operating Officer Rolling Stock and Components Benjamin Fitoussi, President, Rolling Stock and Components ➤ Services Matthew Byrne, President, Services Signalling and Systems Jean-François Beaudoin, President, Digital and Integrated Systems Questions & Answers © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 2#31 4 O Operations Danny Di Perna Executive Vice President and Chief Operating Officer ALSTOM#4Alstom is up and running and winning in the marketplace Building customer confidence through process excellence STABILIZE INTEGRATE нада менмпонент истик PASSENGER FLOW AS PREDICTED TRANSFORM ALSTOM Critical Project 3.4 4.0 4.0 3.0 3.0 2.0 1.9 2.0 1.0 1.0 Risk Index April 2021 Quality Execution to March 2023 Customer improved by 67% One Alstom Process Deployment at 83% Product Convergence: 100% Parts: 25% 1APSYS: Alstom Performance SYStem, Alstom's continuous improvement programme Digital Tools Consolidation at 78% APSYS1 Score: +74% site weighted average © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. RESULTS € 40bn Orders 24 months € 87bn Backlog ALSTOM • 4#5Business process integration and digitalisation Investments "on-track" and delivering results Alstom's Digital Tools Suite Objective: Enable our global teams to develop, engineer, manufacture and support the business from anywhere across the globe. 4 Key Axes: New Product Development (PLM4A - Product Lifecycle Management for Alstom) 菜 Manufacturing Digitalisation (AOS Advanced Operations System) Current 97% converged processes 91% of converged processes deployed in sites 78% of digital tools consolidated Warehouse Suppliers 2025 Targets 100% converged processes >90% of digitalization in our fleet maintenance process 95% of digital tools consolidated B Workplace Collaboration (Teams, SharePoint, etc.) Function Digital Customer Tools (HR, T&A, etc.) GSI Shop Floor © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstancIt is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSstomer#6APSYS, our Alstom continuous improvement program Driving process excellence and performance through rigour and discipline across all activities APSYS Lean Academy 01 Business Mandate 06 Alignment 9 Functions Standardized 02 APSYS Local & Central ALSTOM PERFORMANCE SYSTEM 03 Network 05 04 Site Actions Plans 8 Discipline Assessment Framework APSYS FY22/23 Average Score Improvement Target Avg. > 3.0 214% Top of the Class Leg. BT Leg. AT 73% = Scope 180 Sites ALSTOM PERFORMANCE SYSTEM APSYS Layout & Infrastructure ALATOM ALSTOM mobility by nature. ECA SDAY © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation from Alstom, is strictly prohibited. 5 0000 5500 ALSTOM 6#7Enterprise risk management process active Mitigation actions deployed to face our challenging times • Covid lockdown Long term risks overcome with temporary inventory increase and flexible transportation routes semiconductor needs secured with partnerships, alternate sources and redesigns RAW MATERIALS TION FLA IN Site Delivery Centers focused on mitigating scarce material allocations Inflation challenges mitigated by securing supplier and customer's contracts and stringent cost measures • Energy supply and cost secured through supplier agreements and company wide energy saving plan . Geopolitical risks mitigation plan for strict monitoring and development alternative sources of energy in all sensitive areas © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 7#8100 2020 120 2021 140 2022 160 2023 Semiconductor Market Demand Electronic component crisis management Dedicated global and multi-disciplinary team driving supply chain execution Tensions on the semiconductor market... ... addressed by a complete set of reactive and proactive mitigation measures Note: Base 100 for 2020-2021 actuals, 2022-2025 forecasts (Gartner Apr. 2023) 2024 2025 DE Allocation process enabling 6 months rolling visibility and monitoring Geopolitical tension escalation Reactive Component chasing with a components measures marketplace Punctual high-end demand slowdown, but strong growth expected post-2023 Sustained tension on lead-times 2x to 6x higher vs. pre-crisis levels on critical components While Consumer segments are in excess stocks, sustained demand on Industrial and Auto Proactive measures Engineering redesign and alternatives completed for 650 parts Visibility with suppliers: 80% backlog replanning with Tier 1 and forecast agreements initiated Preferred part list being defined for 15 product families Intimacy with manufacturers / preferred relationships Legal support and client management Semiconductors market trends monitoring © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 8#9Inflation impact on material and wages Largely mitigated by stringent cost measures and contract management Evolution of relevant cost items indexes Indexed, Quarterly evolution from 2019-2025, Base 100 as of 01/01/2019 Multi-disciplinary action plan 550 500 450 400 350 -Actual Forecast March 2023 1 Transport Price adjustment on new tenders mirroring cost increase Shanghai Containerised Freight Index Commercial contract pricing Energy 2 Weighted index by WB adjustment formulas Steel World HRC common steel 3 Reinforced selectivity for fix and firm price contracts Aluminium 250 200 150 100 World Aluminium Sheets Copper 4 Back-to-back with suppliers for fix and firm contracts World electrolytic copper US Wage US manufacturing salaries¹ 5 Long term planning and securing material supplies Europe Wage Europe mfg. salaries² 2019 2020 2021 2022 2023 2024 2025 2026 6 Application of stringent cost measures to mitigate headwinds 1. Forecasted data based on inflation rate in the US | 2. Eurostat labour cost index published quarterly | 3. US Producer Price Index by Industry: Semiconductors and Related Device Manufacturing Source: World Bank, Eikon Datastream, HSBC, Federal Reserve Economic Data, Oxford Economics, Oliver Wyman analysis © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 9#10Quality excellence drives customer confidence and satisfaction Design for Quality Gates Open DFQ Backlog - Total Year End || - 42% Q Delivery Quality to Customer # of Demerits/Unit - Avg Year - 67% Leg. AT Leg. AT + Leg. BT Pre Acq April 2021 March 2022 March 2023 Pre Acq April 2021 March 2022 March 2023 # of Surveys Customer Net Promoter Score NPS Score 350 9 300 ba 250 8.5 8 200 150 7.5 7 100 LENE 6.5 50 0 6 TREN MAYA 17/18 18/19 19/20 20/21 21/22 FY22/23 © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation from Alstom, is strictly prohibited. ALSTOM 10#11Alstom's global supply chain - a competitive advantage Leveraging our proximity to customers for localization and best cost capabilities 14% DACH 23% FRANCE 10% North America (NAM) 6% Latin America (LAM) % of global spend 5% AMECA 31% EUROPE 7% APAC 4% Australia Global Spend ~14€ Bn • 12 months rolling 6% of Supply Base (1200 suppliers) represents 80% of Global Spend (11.7 Bn€) Supply Chain 22K Suppliers Direct and Indirect Scope · Panel reduction : -10% . Improve supply chain Performance to deliver projects and reinforce Risk Management culture Direct Commodities 75 Strengthen Alliance Partnership Program for a better supplier relationship management Critical Suppliers Sig Sys 16% 50 Sub Systems 24% 70 25 57 Interiors 16% 29 19 Metallic 21% Elec & Prop 23% 0 Apr 2022 Apr 2023 Total L1 & L2 70 57 L1 & L2>3M 29 19 • Encourage Regional to Regional proximity and enable localization Deploy decarbonization plan for Scope 3, Purchased Goods and Services -30% in 2030 • Strengthen supplier development (capacity and capability) • © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation from Alstom, is strictly prohibited. Performance of most impactful improved by ~30% in a year ALSTOM 11#12Investing in cutting-edge technology Our completed convergence unleashes innovation for success ALSTOM INNOVATION LEADERSHIP GREEN MOBILITY BROADEST COMPONENT BUILDING BLOCK PORTFOLIO SMART MOBILITY R&D gross effort step-up above €700m¹ 10000 "Lead societies to a low carbon future" "Make mobility simple to operate and ride" "Create mobility solutions that all INCLUSIVE AND people can enjoy HEALTHIER MOBILITY riding" 1 From FY23/24 onwards © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. A-A GREEN TRACTION HYDROGEN PREDICTIVE MAINTENANCE ON-BOARD ELECTRONIC PRODUCTS CLEAN SURFACES DESIGN FOR ALL ALSTOM 12#13Customer-centric value propositions Focused on bringing technology, products and services quickly for our customers Customer profitability Increased revenue and lower costs Low CAPEX and Optimized OPEX Full electrical train with maximum energy savings • High reliability and availability • Lifecycle management . LLL Customer needs Proven offerings and expertise Optimized products Local content Cutting-edge technology Full range of maintenance 44 Sustainability solutions Efficient, green and eco-design Environmental footprint Passenger experience Increased comfort level Less noise • Inclusion and easy access for everyone • Enhanced ride comfort • Energy efficiency . Low weight • Low noise • ⚫ Eco-design Overhaul expertise Digital solutions • Recyclability Passenger-friendly design, lighting, integrated information • 010100 Connected train Interoperable with ground systems Train communication network . Onboard Information Systems framework: remote maintenance, telecommunication, cybersecurity . Information tailored to passenger needs © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 13#14Alstom... up & running and on-track! ALSTOM © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 14#152 4 O Rolling Stock and Components Benjamin Fitoussi President, Rolling Stock and Components ALSTOM#16Alstom is the market leader in Rolling Stock & Components RSC IS A LARGE AND STEADY MARKET UNIFE accessible market 2022-2024 (WRMS 2022) - Average in € Bn / year ALSTOM: A CLEAR RSC MARKET LEADER RSC Market shares 2020/21-2022/23, in % including turnkey share 35% 6% 8% 31% Regional/Commuter HS/VHS 11% Urban +2.8%¹ €44 bn Wagons Light Rail Coaches 12% Locomotives 17% 15% 19% 18% 8% 3% 3% Alstom Comp.1 Comp. 2 Comp. 3 Comp. 4 Comp. 5 MARKET DRIVERS: France Rail Plan India budget for rail 23/24 US acceleration with Jobs & Infra Act Europe Diesel replacement RECENT WINS AUSTRALIA INDIA FRANCE SPAIN 100 Flexity™ low-floor Next generation Trams 312 Metro cars for Delhi Metro Phase IV 60 RER NG Commuter trains €1 BILLION 49 Coradia Stream TM HC trains for RENFE €310 MILLION €370 MILLION FRANCE 15 Avelia Horizon trains for SNCF €590 MILLION KAZAKHSTAN 100 KZ8A (NG) Locomotives, services & signalling €700 MILLION 1. CAGR of 2.8 % based on UNIFE accessible rolling stock market 2019-2021 to 2025-2027 period © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 16#17ALSTOM: a unique global-local presence and capability Enables customer proximity & localization while leveraging global best cost sources ALSTOM #1 IN ALL REGIONS Rolling Stock & Components Key Sites SIEGEN KATOWICE DERBY BARCELONA SAHAGUN HORNELL LA ROCHELLE QINGDAO MADHEPURA SAVIGLIANO +50 Production sites in 22 countries Engineering & Manufacturing Engineering Manufacturing AMERICAS Alstom Comp 1 Comp 2 Comp 3 EUROPE © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. AMECA APAC ALSTOM 17#18Project stabilisation | Task Forces shifting from legacy to early phase projects TASK FORCES EXPERT GROUPS 4.0 3.0 2.0 ||ગુ 4.0 3.0 -26% 2.0 $2.0 -20% 2.0 ~2 1.0 April March 2021 2022 2023 Stabilise and Deep dive legacy projects secure new projects March End of stabilisation robust process -18% 1.0 March 2024 ~1.6 Efficiency and Continuous improvement Solve Technical issues Enforce Design for Quality & PM standards Review all customer requirements, drive configuration management Align project scheduling & resources experts >600 Project Reviews -85 Projects supported -50 Subject-matter Increase quality perception by customers Lead contract management, negotiate Extension of Time © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 18#19COMPONENT TRAIN Convergence done at Train, Sub-system and Part levels. Focusing today on implementation in tenders. From Day 1 INVENTORY 8 platforms, 9 products phased out FY 2021/22 FY 2022/23 > CONVERGE RATIONALISE FY 2023/24 FURTHER STANDARDIZE Light Rail Citadis T Commuter (Rebranding In progress) Regional Urban Coradia T Locomotive Traxx T Innovia TM APM Innovia TM monorail ☐ Metropolis TM High-speed Avelia T Common standardised catalogue: 36 BUY module, 68 make components 35 active products 20 reference solutions 43 active products 20 reference solutions Migrate to AGATE4 Integrate commercial teams in adherence governance Early Spec-in Drive standardisation in tender phase/maximise leverage of standard solutions Standardisation coefficient - KPI DONG (ox hrs) -47% Converters -42% Bogies references -50% TCMS references © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM N ALSTOM 19#20Operational performance | Quality on target, focusing on delivery Defects per unit -25% on Mar 23 External demerit - 52% on Mar 23 Key open safety issues Gate review go on time -33% on Mar 23 (avg 6 months) ~stable Pre-acq Apr Mar Mar Mar AT '21 $22 $23 $24 Mar '25 Pre-acq Apr AT Mar Mar '21 $22 $23 Mar '24 Mar $26 Pre-acq AT X2 Apr Mar Mar '21 $22 $23 Mar Mar '24 '25 Pre-acq Apr Mar AT '21 22 Mar Mar Mar '23 '24 '25 Manufacturing throughput +22% on Mar 23 Physical inventory +7% on Mar 23 Delivery on time +16% on Mar 23 Engineering on-time +6% on Mar 23 Pre-acq Apr AT '21 Mar $22 Mar Mar $23 '24 Mar '25 Pre-acq Apr Mar AT '21 $22 Mar $23 Mar '24 Mar $25 Pre-acq Apr AT '21 Mar '22 Mar '23 Mar '24 Mar Pre-acq Apr Mar Mar '26 AT '21 '22 $23 Mar '24 Mar $25 Supply chain & electronic components challenges mitigated © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 20#21Our achievements 2022-23 | regaining performance and preparing further ramp-up 1 Won 57 Projects securing €10.3 bn orders 49 Coradia Stream for Renfe 2 Progressed product development & rationalization World's 1st hydrogen fleet Germany 3 Deliveries back to nominal customer satisfaction 345 4 Invested in additional capacity and capability Wroclaw: aluminum carbody 5 Mitigated operational & financial headwinds Customer deliveries secured Den 294 Metropolis Cairo Line 6 Avelia Horizon dynamic testing 9 products phased-out 7001 # Components -40% 100 Flexity NG Trams Australia 1000, Bim aus Wien 1,000th tram Alstom Vienna Defects / Unit -25% External demerits -52% Key Open issues -33% Customer Satisfaction 8.3 300th eLoco delivered ALSTOM Fez: start up transformers 'new' Warsaw bogie assembly © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. R804 Inflation impact minimized TION FLA IN Energy supply guaranteed 21 ALSTOM#2223/24 and beyond | accelerate the transformation journey to deliver the committed synergies 1 Win profitable tenders with innovative & standard products 2 Get the best of our footprint and scale 3 Bring our operations to required level of performance 4 Best in class processes with increased digitalisation 5 Leverage our people skills and capabilities ALSTO • Platform positions as strong market leaders • Leverage largest geographical coverage • Leading the way on decarbonisation with 1st battery train in commercial service • Massification & specialisation in development & manufacturing • BCC engineering up to 42% by 2025 • BCC manufacturing up to 60% by 2025 • Compact HCC • Advanced Operation . Site End-End capabilities Recruitment • Project Management by Sub-System • GSI roll out in 40+ sites • Systems (AOS) • Training & Development • Supply Chain & . 1000+ expert network Procurement (Ariba) . Leverage World Class Special • Strictly Apply Design for Quality Process (DFQ) . Change & Configuration Management Engineering efficiency & automation Supplier & Supply Chain capacity development • . Industrial Planning (Kinaxis) PLM4A © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. Process Standards ALSTOM 22 22#23Significant investment in R&D to bring best solutions to our customers ENERGY EFFICIENCY Avelia Horizon tests CYBERSECURITY AGATE 4 upgrade PASSENGER EXPERIENCE GREEN TRACTION SCENARIO: Deature Smart lighting 7:00 H2 distance world record Run 01:09 NIGHT 10°c Driven Distance: 171 1175 km DIRECT SPOT INDIRECT 3500K CORE PRODUCT RANGE COVERAGE Atlas 400 in Traxx Coradia Stream ext. leen 188 001 Hanner t ALSTOM KAN AT OBES for Light Rail IPCEI financing H2 © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 473735 ALSTON#24IPCEI H2 financing strengthens Alstom leadership on Green Traction technologies • 350 M€ subsidies covering 4 projects H2 Traction Bricks Fuel Cell Power pack Ten H2 storage 10 H2 Power Car Hydrogen H Powered Boost H2 solutions development H2 Tender H2 Shunting About 5 years projects Comprehensive program financing including prototypes and pre-series © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM#25RSC turnaround with production ramp-up supporting growth above market RSC BUSINESS PROFILE PROFITABILITY IMPROVEMENT LEVERS HEADWINDS MONITORING FY 2022/23: Backlog 42.8bn€ Orders 10.3bn€ Sales 8.8bn€ Typical mid to large contracts: · From >100m to multi-billion€ 3 to >5 years Cash: • 5 to 10% downpayments • Negative working capital contribution RSC product line as key enabler to Services and Systems businesses OPERATIONAL LEVERS BUSINESS DEVELOPMENT LEVERS Selectivity Increased % of projects indexed Product convergence Platforming & Standardisation IIIIII IIIIII ELECTRONIC COMPONENT CRISIS Cost premiums Operational excellence Digitalisation Footprint utilisation and BCC lever Synergies from process standardisation Acquisition value capture Project stabilization SUPPLY CHAIN Build a robust and capable railway supply base INFLATION € (energy, salaries & materials) Continuous mitigation Progressive margin uplift to high single digit profitability © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 25#26Rolling Stock and Components Product Line: key take-aways Uniquely positioned to capture market growth thanks to product, market reach and 1 6 scale Accelerate the effort of transformation Best in class processes with increased digitalization Significant improvement in project stabilization 2 5 Quality on target Win profitable tenders by innovative & standard products Operating as ONE team Operating model implemented Synergies on track 4 3 Clear plan to deliver the targeted operational recovery Focus on production ramp up and front log development projects © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 26#273 AAN FRECCIARDSSA ROMA AU 9557 19:20 TRENI REGIONALI CON ORIGINE Services Matthew Byrne President, Services ALSTOM#28Most extensive rail services portfolio, expertise and footprint ALL ENCOMPASSING PORTFOLIO ROLLING STOCK MAINTENANCE CLEAR LEADERSHIP OVER THE RAIL SERVICES MARKET PARTS AND COMPONENT OVERHAULS 258 SERVICES SITES 40+ COUNTRIES 1,400+ CONTRACTS 16,000+ EMPLOYEES ASSET LIFE MANAGEMENT Sales (BE) based on latest published figures ALSTOM 3,8 8 TRAIN OPERATIONS AND SYSTEM MAINTENANCE Competitor 1 2,9 Competitor 2 1,6 Competitor 3 0,8 DIGITAL SOLUTIONS Competitor 4 0,5 Source: latest annual reports - Excluding China Market O *Accessible Market UNIFE 2025-2027 © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation from Alstom, is strictly prohibited. ~37* bn€ ALSTOM 28#29Strategy on track with market drivers and customer needs MARKET DRIVERS Increasing Operator focus I on efficiency and performance I Market liberalisation Green mobility Train complexity and digitalisation I I I I CUSTOMER NEEDS Partner with local footprint 8 Cybersecurity and obsolescence STRATEGIC ORIENTATION Total Cost of Ownership 1. Develop maintenance business and leverage installed base 2. Increase globalisation of parts & component repairs & overhauls LLL 3. Grow operations outside of North Americas Safety and security System capacity and ridership Passenger experience 4. Reinforce our position on smart & green modernisation © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 29 29#30Service franchise has exceeded its mid-single digit growth guidance FAST GROWING ORDER INTAKE SINCE MERGER ACCELERATING BOOK TO BILL OUTPACING MARKET GROWTH +50% Order Intake Growth Year on Year > 10 bn€ cumulated Order Intake over 2 years 1,7 Book-to Bill FY22-23 +12% Sales Growth Year on Year ~2% CAGR UNIFE* Market Growth Acceleration in FY2022/23 , from ~1,2 to 1,7 Already visible in sales development * UNIFE Accessible Market CAGR 2019-2021 to 2025-2027 © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 30#31Business model and evolution (bundle contracts, installed based advantage, small contracts) SUSTAINABLE BUSINESS WITH WELL BALANCED ORDER INTAKE 45% Order intake distribution FY 22-23 15% 40% Expected CAGR FY 21-22 to-24-25 12% ■ Sustained trend to bundle rolling stock and services contracts ■ 14% 10% Gardening (Variation orders, extensions, etc) Bundled ( RSC and / or Turnkey + SER) Standalone Healthy level of standalone contracts both on Alstom and non Alstom fleets ▪ Long term customer intimacy securing continuous gardening sales © ALSTOM SA, 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use or disclosure to third parties, without express written authorisation, is strictly prohibited. • ALSTOM • 31#32Mid-term ambition: 35% of installed base under services contract 150,000 CARS INSTALLED BASE WITH VAST HARVESTING POTENTIAL Alstom Installed Base covered by Services contract 25% 35% Today Mid-term DEVELOPMENT LEVERS Green and Smart modernisation Digital Solutions Obsolescence Management incl. software/ Cybersecurity Parts Supply/ Component Overhauls TSSSA TSSSA to open new customers relationship (Singapore - Austria - US - France) Customer key points Technology access End of warranty Fleet availability ■ Mid-life overhaul required ■ Social paradigm Customer benefits ■ Performance & Budget guaranty ■ Obsolescence managed ■ Life extension ■ Modern / Digital approach *TSSSA: Technical Support and Spare Supply Agreement © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM • 32#33Demonstrated performance boosting commercial success OPERATIONAL EXCELLENCE MTR Elizabeth Line 32 years Full Maintenance 70 Aventra™ BEST IN CLASS RELIABILITY OPTIMISED CUSTOMER COST OF OWNERSHIP Baden-Württemberg Herrenberg new battery ban from ALSTOM Julet CUSTOMER INTIMACY MARC JONDARMER MARC 30 years Full Maintenance 130 Coradia StreamTM HC ENERGY CONSUMPTION COMMITMENT Maryland Transit Administration MARC 15 years Operation and maintenance - Mixed fleet © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. LONG STANDING COLLABORATION ALSTOM 33#34Service franchise with strong predictability and high-single digit growth SERVICES BUSINESS PROFILE FY2022/23: Backlog 30.7bn€ Orders 6.4bn€ Sales 3.8bn€ Contracts: . Long contracts up to 30 years Indexation as general rule Short-cycle business (parts) Cash: Limited mobilisation payments (depots, capital spares) . Positive working capital BUSINESS DEVELOPMENT LEVERS OPERATIONAL LEVERS PROFITABILITY IMPROVEMENT LEVERS Bundle offers Small orders management TSSSA opportunities focus Harvesting installed base Improvement of Client Total Cost of Ownership Local Footprint Improvement of fleet availability and reliability Low R&D needs Scale effect on Data management ACHIEVED MID-TEENS PROFITABILITY WITH LARGE GROWTH POTENTIAL © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. HEADWINDS MONITORING RESOURCES AVAILABILITY To support growth SUPPLIERS PERFORMANCE Localisation, resources availability and on-time performance ALSTOM 34#354 ATE 93 D Signalling and Systems Jean-François BEAUDOIN President, Digital & Integrated Systems ALSTOM#36Solid signalling market growth with accelerating modal shift as key market driver ~15 bn€1 ERTMS3 ROLL-OUT ACCELERATING IN EUROPE STRONG SIGNALLING +~4% MARKET GROWTH CAGR² 30 Bn€ signalling German roll-out in the coming years Market boosted by infrastructure plans & ERTMS3 roll-out acceleration 13 Bn€ signalling Italy ERTMS roll-out framework attributed Already materializing in orders → Signalling key to increasing capacity on existing lines → Enabling modal-shift acceleration towards rail + FRANCE rail plan (100bn€ for entire plan, signalling share not yet known) >20% high-speed capacity (Paris-Lyon ERTMS Level 2 and then Hybrid L3) TGV >25% metro capacity (Shangai L3/L4, Fluence delivered by CASCO Joint venture) & OUTSIDE EUROPE (*) (•) C Canada Mexico (Toronto) (Tren Maya) Australia (New South Wales) India (Delhi- Meerut) Philippines Tanzania (NSRC) Turkey (BBYO) © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure third parties, without express written authorisation, is strictly prohibited. Source: UNIFE market study (Alstom Addressable market excl. Japan & China) 1- 2022-2024 2- CAGR 2019-2021 to 2025-2027 3. ERTMS: European Rail Traffic Management System ALSTOM 36#37Signalling, a market segment under consolidation around 3 global players KEY GLOBAL PLAYERS CONSOLIDATING... # of global signalling players¹ ... FAR AHEAD OF REST OF COMPETITION² Signalling players revenues overview ... OUTPACING MARKET GROWTH Alstom growth vs. Market 8 players 3 players² 2010 2023 ↑ -x 5-10 size 4% Global players Other players -high single digit UNIFE market³ ALSTOM4 1- Global layers considered >500m€ revenues present in Alstom addressable market 2- Thales/Hitachi Merger expected in 2023 3- Alstom addressable market excl. Japan and China, CAGR 2019-2021 to 2025-2027 4- FY22/23 vs. FY21/22 © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 37#38Alstom positioned as the most global signalling partner MOST COMPLETE SIGNALLING PLAYER 45+ Countries with local presence LARGEST PORTFOLIO & installed base (strong services growth potential) EXTENSIVE FOOTPRINT (customer intimacy & efficiency) POSITIONED ON ALL KEY SIGNALLING MARKETS Top 10 signalling worldwide markets Alstom & Bombardier merge unlocking access to German market RECOGNIZED CAPACITY TO INNOVATE (cyber, digitalization, new operating modes) >3,000 R&D PROVEN TRACK-RECORD with latest innovations (India on hybrid level 3 ERTMS, new vital technical platform in commercial operation in China) ENGINEERS | I | I % DE UK US IT PL FR IN CA ES ANZ "HOME MARKETS" HIGH CUSTOMER CONFIDENCE HIGH CUSTOMER SATISFACTION NPS1 > 8 FY22-23 1- Net Promoter Score Harvesting installed base with small orders 180+ Metro lines equipped with Alstom signalling © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM ☐38#39WAYSIDE ONBOARD Germany mainline signalling, a "Home Market" in the making SUSTAIN LEADERSHIP ATLAS ONBOARD THE MOST DESIRED SOLUTION SUCCESSFUL GERMAN ROLL-OUT Stuttgart projects considered as trend setter for the German roll-out COMMERCIAL DYNAMIC SCALE-UP BENEFITTING FROM DECREASING ENTRY BARRIERS FOR ALSTOM ALSTOM LEGACY ETCS Level 2 technology bricks BOMBARDIER LEGACY •Interlocking •Braunschweig signalling site •Existing customer intimacy ALSTOM R&D Digital Object Controller development SUCCESSFUL COMMERCIAL DYNAMIC & AMBITIOUS PLAN ~700 m€ orders FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 ~70 me revenues in FY 20/21 (before the merge) >30% sales CAGR © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 39#40Deliver projects locally leveraging a worldwide footprint LEVERAGE SCALE WHILE SECURING CUSTOMER INTIMACY SIGNALLING SOLUTIONS Application customization Deliver & maintain CLOSE TO CUSTOMERS DELIVER EFFICIENTLY THROUGH AN UNPARALLELED ENGINEERING FOOTPRINT Key BCC sites >>> India Eng. FTE 2,700+ Thailand 500+ Poland 400+ Brazil 200+ ACCESS TO LARGE TALENT POOLS (e.g. IT resources in India...) R&D (Application software & technical platform) CONCENTRATED FOOTPRINT developing standard solutions (~10 key sites) 10,000+ ENGINEERS Alstom key engineering deployment sites Alstom key R&D sites Major Joint Ventures 50+% of engineering hours executed in Best Cost Countries within 3 years with India at the heart of the footprint © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 40#41A sustained pace of innovation introduced in customer projects ACCELERATE DIGITALIZATION CYBERSECURITY BECOMING SYSTEMATIC ON OFFERS from 20 to 140 live projects over last 5 years Implement innovations on a major customer contract • Delhi-Meerut project illustration: . Most advanced ERTMS solutions Hardware/software decoupling in operations LATEST PRODUCTS GENERATION INSTALLED BASE ERTMS Hybrid Level 3 (Delhi Meerut, India) SERVICES TO CUSTOMERS DESIGNED FOR CYBERSECURITY HARDENING STRATEGY SUPPORT CYBER TRANSFORMATION & OPERATIONS -40% travel time Lead RAILWAY CYBER STANDARDS design (CENELEC, IEC) Leverage PARTNERSHIPS CYLUS © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ~350 rail CYBER EXPERTS 18-19 19-20 20-21 21-22 22-23 23-24 24-25 ALSTOM PORTFOLIO ENABLERS 41#42Signalling franchise set for high-single digit growth SIGNALLING BUSINESS PROFILE FY2022/23: Backlog 7.5bn€ • Orders 2.9bn€ Sales 2.4bn€ Contracts: • Typical small size; < 2 years • Few > 100m€; 3 - 5 years Cash: • Low downpayments Electronics inventories Positive working capital BUSINESS OPERATIONAL DEVELOPMENT LEVERS LEVERS PROFITABILITY IMPROVEMENT LEVERS Small orders boost Selectivity High Single Digit growth pattern o/w services fast development Harvesting customer long term relationship Increased share of contract indexation Increase Best-Cost vs. High-Cost countries engineering content > Cost of labor Scaling effect on R&D & Convergence roadmap > Decreasing R&D Intensity > Productivity > Access to digital skills HEADWINDS MONITORING ELECTRONIC COMPONENT CRISIS Improving, backlog to be delivered € SUPPLY CHAIN Business continuity favored over cash optimization INFLATION (salaries & raw materials) Largely mitigated FRANCHISE GEARED TO REACH DOUBLE DIGIT PROFITABILITY OVER NEXT 3 YEARS © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. ALSTOM 42 42#43Systems commercial success driving double digit growth SYSTEMS BUSINESS PROFILE FY2022/23: · Backlog 6.3bn€ • Orders 1.0bn€ Sales 1.5bn€ INCREASING VISIBLE PIPELINE OF OPPORTUNITIES Volume of visible & addressable opportunities STRONG ALSTOM POSITIONING ALSTOM LEADING PLAYER AMONG THE 3 GLOBAL PLAYERS 8-10 bn€ /y >65% TOP 3 PLAYERS MARKET SHARE OVER ALSTOM VISIBLE OPPORTUNITIES IN RECENT YEARS Very large projects business · Several hundred millions to > €1bn 5-7 years execution 3-6 bn€ /y Profitable enabler · Low R&D, low Capex Operations and Maintenance enabler Cash generator · Well - financed contracts • Negative working capital 2018-2022 2023-2026 "KEEP BEING THE BEST-IN-CLASS SYSTEM PROVIDER TO BE SELECTED AS THE BEST PARTNER" Proven delivery track-record Unique vertical integration from system level to all key sub-systems > Technology & competitiveness WITH STRONG HIGH SINGLE DIGIT PROFITABILITY © ALSTOM SA 2023. All rights reserved. Information contained in this document is indicative only. No representation or warranty is given or should be relied on that it is complete or correct or will apply to any particular project. This will depend on the technical and commercial circumstances. It is provided without liability and is subject to change without notice. Reproduction, use, alter or disclosure to third parties, without express written authorisation, is strictly prohibited. Cairo Monorail Riyadh metro Tren Maya ALSTOM 43#44www.alstom.com f in ALSTOM ⚫ mobility by nature.