Investor Presentaiton

Signalling 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

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