Investor Presentaiton

2023 Outlook SALCEF GROUP Business volumes expected to growth by around 20% YoY (~ 10% organic), mainly driven by: · . Consolidation within Track & Light Civil Works BU of the recently acquired Francesco Ventura Costruzioni Ferroviarie as well as 4-month contribution of business unit acquired from PSC • Further growth of the core business in Italy, with execution of the track works and energy Framework Agreements with RFI and of traditional and urban maintenance and renewal contracts for other customers • Construction activities on the Verona-Padua High Speed line going at regime · Ramp up of the activities on the ERTMS contract in Italy • Boost of US activities on the back of the execution of new contracts signed in 2022 . First activities in Romania under the upgrade and modernization contracts signed in 2022 In the current scenario with inflationary pression remaining fairly high and with the need to focus on the integration. of Francesco Ventura Costruzioni Ferroviarie, EBITDA margin is expected to remain broadly in line with 1Q 2023, still supported by the effect on governmental measures > Capex expected at € 65 mln further up compared to 2022 to sustain organic growth. At the 1Q stage, Capex in line with plan at approx. € 17 mln 43

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