30 July 2026
H1 2026 RESULTS
NAVIGATING COMPLEXITY, DELIVERING RESILIENT GROWTH
H1 2026 RESULTSThis document hasbeen prepared byMAIRE S.p.A.(the“Company”) solely foruseinthepresentation oftheMAIRE Group (the“Group”) andits financial results .
This document does notconstitute orform partofanyoffer orinvitation tosell,oranysolicitation topurchase anysecurity issued bytheCompany .
The information contained andtheopinions expressed inthisdocument have notbeen independently verified .Inparticular, thisdocument may contain forward -looking statements thatarebased oncurrent estimates andassumptions made bythemanagement oftheCompany tothebest of itsknowledge .Such forward -looking statements aresubject torisks anduncertainties, thenon-occurrence oroccurrence ofwhich could cause the actual results –including thefinancial condition andprofitability oftheGroup –todiffer materially from orbemore negative than those expressed or implied bysuch forward -looking statements .This also applies totheforward -looking estimates and forecasts derived from third-party studies .
Consequently, neither theCompany noritsmanagement can give any assurance regarding thefuture accuracy oftheestimates offuture performance setforth inthisdocument ortheactual occurrence ofthepredicted developments .
Mariano Avanzi, asExecutive forFinancial Reporting, declares :i)inaccordance withparagraph 2,Article 154-bisofLegislative Decree No.58/1998 (“Consolidated Finance Act”), thattheaccounting information included inthispresentation corresponds totheunderlying accounting records, andii) inaccordance with paragraph 5-ter,Article 154-bisoftheConsolidated Finance Act, that some oftheinformation ontheresults relating to sustainability performance indicators included inthispresentation corresponds totheinformation contained intheGroup’s Sustainability Report approved .
This document makes use ofsome alternative performance indicators .The management oftheCompany considers these indicators key parameters tomonitor theGroup’s economic and financial performance .Astherepresented indicators arenotidentified asaccounting measurements according toIFRS standards, theGroup calculation criteria may notbeuniform with those adopted byother groups and, therefore, may notbecomparable .
Thedata andinformation contained inthisdocument aresubject tovariations andintegrations .Although theCompany reserves theright tomake such variations andintegrations when itdeems necessary orappropriate, theCompany assumes noaffirmative disclosure obligation tomake such variations andintegrations .DISCLAIMER
H1 2026 RESULTSAGENDA01INTRODUCTORY REMARKS
Alessandro Bernini, Chief Executive Officer
02BUSINESS HIGHLIGHTS | SUSTAINABLE TECHNOLOGY SOLUTIONS
Fabio Fritelli, Managing Director Nextchem
03BUSINESS HIGHLIGHTS | INTEGRATED E&C SOLUTIONS
Alessandro Bernini, Chief Executive Officer
04FINANCIAL RESULTS
Mariano Avanzi, Chief Financial Officer
05RESHAPING OPPORTUNITIES
Alessandro Bernini, Chief Executive Officer
01
H1 2026 RESULTSINTRODUCTORY REMARKS
Alessandro Bernini, Chief Executive Officer
5
RESILIENT EXECUTION UNDERPINS SOLID PERFORMANCE
H1 2026 RESULTS INTRODUCTORY REMARKSH1 2026 HIGHLIGHTS
EXPANDED NEXTCHEM’S TECHNOLOGY PORTFOLIO INTO INORGANIC CHEMISTRY FOR CRITICAL RAW MATERIALS,
WITH BALLESTRA AND ETEK CONTRIBUTING TO RESULTS FROM Q3 2026€3.7bn revenues
+6.9% YoY€266.2m EBITDA
+14.7% YoY, 7.2% marginContinuous project
advancement
supported by a well -balanced project mix andclose coordination with clients across the Middle EastProfitability
enhancement
driven by operating leverage and the growing contribution of Nextchem’s technology portfolio
€16.3bn backlog
€7.2bn order intake (€8.4bn YTD)Backlog close to record high reflecting sustained commercial momentum and the market appeal of MAIRE’s integrated offering
6RISING DEMAND FOR ENERGY SECURITY AND INDUSTRIAL RESILIENCEGROUP ORDER INTAKE AND BACKLOG
H1 2026 RESULTS INTRODUCTORY REMARKS1. Including €265m contribution from Ballestra Group backlog following the completion of the acquisition in Q2 2026. 2. Sustainability -related work is defined as the sum of t ransitional and sustainable work (respectively ~13% and ~3%). Please refer to appendix for work classification criteria. 3 . Ratio of new awards in H1 2026 to revenues recognized over the same period. 4. Ratio of backlog at30 June 2026 to revenues generated over last 12 months.ORDER INTAKE (€bn)
5.67.21
H1 2025 H1 2026
15.013.812.716.3
31-Dec-23 31-Dec-24 31-Dec-25 30-Jun-26 Sustainability -related2>15%H1 2026 HIGHLIGHTS
2.2x
Backlog cover4
2.0x
Book -to-bill3
CLOSE TO ACHIEVING THE €9 BNANNUAL ORDER INTAKE TARGET IN JUST 7 MONTHS,
ALSO ENTERING NEW GEOGRAPHIESBACKLOG (€bn)
1.2
July order
intake8.4
1.2
July
backlog~17.5
7
COMBINING NEXTCHEM’S TECHNOLOGIES WITH TECNIMONT’S ENGINEERINGINTEGRATED FERTILIZER PROJECT IN ARGENTINA
H1 2026 RESULTS INTRODUCTORY REMARKSHIGHLIGHTS
€1.3bn contract awarded by Fertil Pampa1 of which € 140m attributable to Nextchem’s technology package2 6,000 metric tons/day of urea capacity through two ultra -low energy urea trains, to be completed in 41 months Integrated scope of work leveraging Nextchem’s urea licensing, PDP and PEQ, and Tecnimont’s engineering, procurement, commissioning and start -up capabilities De-risked market entry with local construction entrusted to SACDE, a leading Argentine contractorBahia Blanca,
Buenos Aires
SUPPORTING ARGENTINA'S
DEVELOPMENT
•monetizing gas from Vaca Muerta through downstream transformation •strengthening fertilizer production •enabling efficient logistics through direct access to key infrastructures 1. A wholly owned subsidiary of Pampa Energia 2. Awarded in Q2 2026. Note: PDP (Process Design Package); PEQ (Proprietary Equipment).
DEVELOPMENT OF THE LARGEST UREA PLANT IN LATIN AMERICA
DEPLOYING MAIRE’S INTEGRATED OFFERINGFurther opportunities expected , supported by strong regional momentum
8
~6,800~8,400~9,300 ~9,700~8,000~9,800~10,800~11,300
31-Dec-23 31-Dec-24 31-Dec-25 30-Jun-26TALENT EXPANSION SUPPORTING GLOBAL GROWTHGROUP HEADCOUNT
H1 2026 RESULTS
Technical and commercial Staff
~500 PEOPLE ADDED IN H1 2026 DRIVEN BY BALLESTRA AND ETEK ACQUISITIONSGROUP EMPLOYEES
INTRODUCTORY REMARKSCONSOLIDATING NEXTCHEM'S PRESENCE IN CHINA
Building on Tecnimont's presence since 1994, the Beijing office strengthens access to one of the world's leading industrial ecosystems
02
H1 2026 RESULTSBUSINESS HIGHLIGHTS
SUSTAINABLE TECHNOLOGY
SOLUTIONS
Fabio Fritelli, Managing Director Nextchem
10COMMERCIAL MOMENTUM IN FERTILIZERS , EXPECTED TO CONTINUE GOING FORWARDREACHING NEW HIGHS, SUPPORTED BY AN EXPANDED TECHNOLOGY PORTFOLIOSTS ORDER INTAKE AND BACKLOG
H1 2026 RESULTS BUSINESS HIGHLIGHTS | STSORDER INTAKE (€ m)
211.8291.6265.31556.9
H1 2025 H1 2026BACKLOG (€ m)
366.0702.6
31-Dec-25 30-Jun-26
1.Contribution from Ballestra Group backlog following the completion of the acquisition in Q2 2026. 2. €485m subject to final investment decision, except for €10m engineering activities.
Note: PDP (Process Design Package); PEQ (Proprietary Equipment).
Two plastic upcycling feasibility studies in Southern Africa and SE AsiaLicensing, PDP and PEQ supply in West Africa for fertilizer plants2H1 2026 MAIN AWARDS Licensing and PDP to produce specialty chemicals in ChinaLicensing and PDP for a nitric acid plant in China PEQ supply in the Middle East to enhance complex production capacity Licensing and PDP for a urea -to-DEF plant in the US Early engineering and PEQ supply for a SAF plant in Indonesia Licensing for biomass -to-syngas for a SAF plant in Canada Licensing, PDP and technical services for trimellitic anhydride in China Licensing, PDP and PEQ supply for a urea plant in Argentina FEED MOVE MAKE
11EXPANDING INTO FERTILIZERS, INORGANIC CHEMISTRY AND STRATEGIC MATERIALSCOMPLETION OF BALLESTRA GROUP’S ACQUISITION
H1 2026 RESULTS BUSINESS HIGHLIGHTS | STSACCELERATING THE DEVELOPMENT OF NEXTCHEM’S TECHNOLOGY PLATFORM ,
SUPPORTED BY A GROWING INNOVATION NETWORK FOR TECHNOLOGY SCALE -UPHIGHLIGHTS
TRANSACTION DETAILS
1. NPK, i.e., Nitrogen (N), Phosphorus (P) and Potassium (K). 2. Fast -Moving Consumer Goods.
BALLESTRA GROUP100%
Relying on a proven track record of 6,400+ plants worldwideBallestra (incl uding Mazzoni)
Buss ChemTech
Ballestra Indialeader in fluorine derivatives and gas -liquid reactionsleader in surfactants, detergents and soaps solutions engineering hub in BangaloreFull NPK1spectrum adding phosphate and potassium fertilizers, complementing the existing nitrogen -based offering Entry into inorganic chemistry sulphur , fluorine and phosphoric technologies serving metals & mining and electrification value chains Access to global FMCG2customers leading technologies for surfactants, detergents and soap solutions addressing consumer goods needs
FEED
MOVE
MAKE€148.2m
total consideration paid
12ENTERING THE PRECIOUS METALS RECOVERY MARKETETEK’S ACQUISITION
H1 2026 RESULTS BUSINESS HIGHLIGHTS | STSUNLOCKING AN EMERGING VALUE POOL DRIVEN BY RESOURCE CIRCULARITY
1. Linked to the company’s future performance through 2030. 2.Top Blown Rotary Converter.HIGHLIGHTS Pyro-and hydrometallurgical technologies strengthening resource recovery capabilities beyond plastics recycling and waste gasification Proven references worldwide high recovery rates, feedstocks flexibility and improved energy efficiency, underpinning attractive commercial prospects Exposure to ever -growing waste streams unlocking value from electrical and electronic equipment waste (so called e -waste or WEEE)
TRANSACTION DETAILS
ETEK
SISEMTEK70%
100%€17.5m
100% enterprise value
€11.1m
total consideration
€5.0m upfront
remaining potential earn -outs1
MAKE
Metals processing technologies
TBRC2furnaces manufacturing
03
H1 2026 RESULTSBUSINESS HIGHLIGHTS
INTEGRATED E&C SOLUTIONS
Alessandro Bernini, Chief Executive Officer
14MANAGING A COMPLEX OPERATING ENVIRONMENTIE&CS MIDDLE EAST OPERATIONS
H1 2026 RESULTS1. Main projects with ongoing on -site operations.Safeguarding ~2,500 people currently employed in the area
WORKING CLOSELY WITH CLIENTS TO SUPPORT PROJECT CONTINUITY ,
INCLUDING THE ADOPTION OF ALTERNATIVE ROUTES
Amiral petrochemical project in advanced construction phase Ras Laffan petrochemical project advancing mechanical completionKEY PROJECT PROGRESS1AT30 JUNE 2026 Borouge 4 petrochemical project finalizing commissioning activities, with utilities & offsites already in start -upHail and Ghasha gas development project progressing through construction (~75% overall progress) REGION OVERVIEW & LOGISTICS Harvest ammonia project in advanced construction phase BUSINESS HIGHLIGHTS | IE&CSOversized items via vessel with local logistics support Containerizable items via truck & air freight through alternative routes
15OVERALL PROGRESS AT ~75% AS OF 30 JUNE 2026HAIL AND GHASHA
1. Assuming an average concrete mixer truck load of 7.5 m³. 2. Strait of Hormuz .31,000 people mobilized on site including construction subcontractorsSCALE AND
PROGRESS ACHIEVEDACTIONS PROTECTING
EXECUTION
129,000 tons
of steel structures equivalent to 18 Eiffel Towers
Incentives and
night -shift measures to protect construction pace~1,500 containers delivered at site after reduced operability of the SoH2529,000 m³
of concrete
equivalent to >70,000 truckloads1~600
shipments re-routed
through alternative ports
H1 2026 RESULTS BUSINESS HIGHLIGHTS | IE&CSMULTIPLE EXECUTION PATHWAYS ALREADY IDENTIFIED
16
DRIVEN BY CLIENTS' NEED TO SECURE EXECUTION CAPACITYIE&CS ORDER INTAKE AND BACKLOG
H1 2026 RESULTS BUSINESS HIGHLIGHTS | IE&CSORDER INTAKE (€bn)
5.46.7
H1 2025 H1 2026BACKLOG (€bn)
12.415.6
31-Dec-25 30-Jun-26Oil & Gas EPC projects , including the optimization of existing facilities H1 2026 MAIN AWARDS Note: EPC ( E: Engineering; P: Procurement; C: Construction).Petrochemical EPC project
STRONGER -THAN -EXPECTED ORDER INTAKE REFLECTS ACCELERATING INVESTMENT DECISIONS1.2
July order
intake7.9
JULY 2026 AWARDS
€1.2bn Fertil Pampa’s urea project in Argentina including engineering, procurement, commissioning and start -up activities1.2
July
backlog~16.8
17INCREASED VISIBILITY THANKS TO THE STRONG ORDER INTAKE SECURED YEAR -TO-DATEIE&CS BACKLOG SCHEDULE
H1 2026 RESULTS BUSINESS HIGHLIGHTS | IE&CS
H2 2026 2028+ 2027
~40%~40%~20%IE&CS backlog
As of 30 June 2026
KEY EXPECTED PROJECT PROGRESS
Provided no worsening of current geopolitical situation
€15.6bn
Africa :
Algeria, Egypt, Nigeria and Côte d'Ivoire, with projects advancing through different EPC phasesMiddle East :
Hail and Ghasha , Harvest and Amiral advancing through constructionCentral Asia :
Silleno and Tengiz progressing through engineering, procurement and the start of constructionSouth America :
Fertil Pampa starting engineering and procurementJuly order intake As of 30 July 2026€1.2bn Other 2026 awards :
Contributing to 2027 and beyond, extending to 2030 -31 Note: based on current management assumptions, excluding major contractual amendments or extraordinary events beyond the reas onable control of the Group which may impact its operations.
04
H1 2026 RESULTSFINANCIAL RESULTS
Mariano Avanzi, Chief Financial Officer
19DEMONSTRATING RESILIENCE THROUGH PROFITABLE GROWTHGROUP P&L
H1 2026 RESULTS FINANCIAL RESULTSMid-to-high single -digit revenue growthREVENUES (€bn)
+6.9%
+50bps
EBITDA margin expansionEBITDA (€m)
6.7% 7.2%
Double -digit growth before €19.3m minorities2NET INCOME (€m) Growth % Margin
3.43.7
H1 2025 H1 2026
232.1266.2
H1 2025 H1 2026+14.7%
3.9% 4.3%
132.9157.2
H1 2025 H1 2026+18.3%
Sustainability -related1~50%
1. Sustainability -related work is defined as the sum of transitional and sustainable work (respectively ~46% and ~3% of H 1revenues). Please refer to appendix for work classification criteria. 2. R elated to Nextchem and JVs.
20GROWTH BACKED BY A UNIQUE TECHNOLOGY PORTFOLIOSUSTAINABLE TECHNOLOGY SOLUTIONS
H1 2026 RESULTS FINANCIAL RESULTS
194.5285.7
H1 2025 H1 2026
48.668.0
H1 2025 H1 2026
Growth % MarginREVENUES (€m)
+46.9%EBITDA (€m)
25.0% 23.8%+39.9% Revenues increase in a challenging environment, sustained by low -carbon chemicals
and fertilizers
Profitability
reflecting an increased contribution from proprietary equipment
21EXECUTION RESILIENCE IN A COMPLEX ENVIRONMENTINTEGRATED E&C SOLUTIONS
H1 2026 RESULTS FINANCIAL RESULTSGrowth % MarginRevenue increase driven by continued project activity in the Middle East and growing contribution from Africa and AsiaREVENUES (€bn)
+4.5%
+20bps profitability
supported by operating leverage and efficiencies EBITDA (€m)
5.6% 5.8%
3.23.4
H1 2025 H1 2026
183.5198.2
H1 2025 H1 2026+8.0%
22
(194.4)
(81.1)
301.1395.1417.5
(19.3)
(204.0)
(12.7)
Adj. net cash
31-Dec-25Operating
cash flows
and FXTaxes Cash flow
from
investmentsNet financial
chargesDividends Share
buy-backAdj. net cash
30-Jun-26NET CASH POSITION AND CAPEX
H1 2026 RESULTS FINANCIAL RESULTSCASH FLOW BRIDGE (€m, ex -IFRS 16)OPERATING CASH FLOW SUPPORTING TECH EXPANSION AND SHAREHOLDER RETURNS 1. Excluding leasing liabilities -IFRS 16 ( €111.2m as of 31 December 2025 and €114.2m as of 30 June 2026) and other minor items. 2. Including the impact from the consolidation of Ballestra Group 3 . Of which €187.6m paid to MAIRE shareholders and €6.8m paid on minority interests. 4. Deferred price and earn -out components related to M&A transactions a re included at closing of the transactions and may result in a cash outflow in the following periods.
5. Including a deferred price component for the acquisition of MyRemono . 6. Including the consideration paid for the exercise of the call option on the remaining 16.5% minority interest in Conser, the consideration paid on the remaining 15.0% minority interest in MyReplast and MyReplast Industries, as well as earn -outs related to the acquisition of Conser and GasConTec , and a deferred price component for the acquisition of MyRemono . 7. Sustainability -
related capex are defined as the sum of transitional and sustainable investments. Please refer to appendix for work classification criteria. Adj. net cash
31-Dec-251Operating
cash flows2
and FXTaxes Capex Net
financial
chargesDividends3Share
buybackAdj. net cash
30-Jun-261
23.029.11.05165.9
7.29.0
31.2204.0
H1 2025 H1 2026CAPEX (€m)4
Sustainability -related7Including total
consideration
paid for Ballestra
Group, upfront
price for 70% of ETEK, and other
components
related to past
acquisitions6
~60%IE&CS organic
STS M&A
STS organic
05
H1 2026 RESULTSRESHAPING OPPORTUNITIES
Alessandro Bernini, Chief Executive Officer
24MOST OF THE MARKET OPPORTUNITIES CAN BENEFIT FROM OUR INTEGRATED OFFERINGGROUP COMMERCIAL PIPELINE
H1 2026 RESULTSBY HALF -YEAR (€bn)
RESHAPING OPPORTUNITIES
BY GEOGRAPHY (€bn, Jun-26)
SAF LNG
Critical mineralsNorth America 5.7Power SAF & biofuels
CircularEurope 11.5
Gas treatment
Polyolefins
FertilizersMiddle East 23.5
Fertilizers
Chemicals
Gas treatmentAfrica 6.1Circular
Refinery upgrades
Chemicals & SurfactantsAsia 8.5
Gas treatment
Fertilizers
LNGSouth America 6.0
AT LEAST ~€9BN 2026 ORDER INTAKE TARGET (€8.4BN ALREADY AWARDED AS OF 30 JULY)
60.7 61.3
31-Dec-25 30-Jun-26
New entry from Ballestra
25
CONSISTENT PROGRESS, BUILDING ON OUR DISTINCTIVE DNAOUTLOOK
H1 2026 RESULTS RESHAPING OPPORTUNITIES1.As announced on 4 March 2026 with the 2026 -2035 Strategic Plan .H1 results confirm
solid performance
2026 GUIDANCE1CONFIRMEDNextchem platform strengthenedReady for further
growth
Steady execution, strong order intake and a diversified backlog, continue to drive growth in a complex operating environmentBallestra and ETEK acquisitions completed, expanding the technology portfolio and supporting H2 performanceBroadening geographic footprint and accelerating commercial momentum sustain future growth across multiple
markets
H1 2026 RESULTSQ&A
H1 2026 RESULTSAPPENDIX
28SOUND LIQUIDITY AND ROBUST BALANCE SHEETFINANCIAL STRUCTURE
H1 2026 RESULTS APPENDIX
915.51,153.81,372.61,564.9
31-Dec-23 31-Dec-24 31-Dec-25 30-Jun-26LIQUIDITY (€m) MEDIUM/LONG TERM LOANS AND BOND MATURITIES (€m)
Total € 937.4 m as of 30 June 2026 vs €728.3m as of 31 December 2025A solid foundation for both operations and future investments 0.9
35.9
49.6
81.6
124.4
55.0190.0 125.0275.0
55.9
35.949.6271.6524.4
2026 2027 2028 2029 2030+Sustainability-linked Bond Sustainability-linked Schuldschein Loan
Bank facilities
29H1 RESULTSINCOME STATEMENT
H1 2026 RESULTS APPENDIX
Q1 2026 Q2 2026 Change QoQ H1 2025 H1 2026 Change YoY €m % €m % €m % €m % €m % €m %
GROUP
Revenues 1,836.5 100.0% 1,845.8 100.0% 9.3 0.5% 3,444.1 100.0% 3,682.4 100.0% 238.2 6.9% Operating costs (1,705.3) (92.9%) (1,710.9) (92.7%) (5.6) 0.3% (3,212.0) (93.3%) (3,416.2) (92.8%) (204.2) 6.4%
EBITDA 131.2 7.1% 134.9 7.3% 3.7 2.8% 232.1 6.7% 266.2 7.2% 34.0 14.7%
Depreciation and amortization (17.9) (1.0%) (18.8) (1.0%) (0.9) 4.9% (32.5) (0.9%) (36.7) (1.0%) (4.2) 13.0%
EBIT 113.3 6.2% 116.2 6.3% 2.8 2.5% 199.7 5.8% 229.5 6.2% 29.8 14.9%
Net financial income/(charges) (3.0) (0.2%) (0.2) 0.0% 2.8 (93.4%) (4.8) (0.1%) (3.2) (0.1%) 1.6 (33.2%)
EBT 110.3 6.0% 116.0 6.3% 5.6 5.1% 194.9 5.7% 226.3 6.1% 31.4 16.1%
Tax provision (33.6) (1.8%) (35.5) (1.9%) (1.9) 5.7% (62.0) (1.8%) (69.1) (1.9%) (7.1) 11.5% Net Income 76.7 4.2% 80.5 4.4% 3.7 4.8% 132.9 3.9% 157.2 4.3% 24.3 18.3% Group Net Income 67.4 3.7% 70.5 3.8% 3.2 4.7% 126.7 3.7% 137.9 3.7% 11.2 8.8% STS Revenues 140.6 100.0% 145.1 100.0% 4.5 3.2% 194.5 100.0% 285.7 100.0% 91.2 46.9%
EBITDA 32.3 23.0% 35.7 24.6% 3.4 10.6% 48.6 25.0% 68.0 23.8% 19.4 39.9%
IE&CS
Revenues 1,696.0 100.0% 1,700.7 100.0% 4.7 0.3% 3,249.7 100.0% 3,396.7 100.0% 147.0 4.5%
EBITDA 98.9 5.8% 99.2 5.8% 0.3 0.3% 183.5 5.6% 198.2 5.8% 14.7 8.0%
30AS ANNOUNCED TO THE MARKET WITH THE 2026 -2035 STRATEGIC PLAN2026 GUIDANCE CONFIRMED
REVENUES
EBITDA
CAPEX1
ADJ. NET CASH2STS IE&CS
Strong visibility, with a progressive acceleration in H2€ 670 –700m € 190 –220m In line with YE25 (€395.1m)Supporting technology bolt -on acquisitions and digital innovation Operating cash flows offsetting capex, share buy -back and dividends€ 150 –165m 22 –24% margin € 6.8 –7.0bn € 60 –80m€ 395 –410m 5.8 –5.9% margin€ 7.5 –7.7bn € 250 –300m€ 545 –575m 7.3 –7.5% marginGROUP 1.Including bolt -on M&A transactions. In case of acquisitions involving deferred price components and/or earn -outs, the total con sideration is considered. 2. Excluding leasing liabilities –IFRS 16 and other minor items.Reflecting an evolving business mix, operating leverage and efficiencies In line with YE25
(€395.1m)
H1 2026 RESULTS APPENDIX
31 H1 2026 RESULTS APPENDIXBASIS OF PREPARATIONSUSTAINABILITY -RELATED WORK FRAMEWORK
We categorize our work under three types – Sustainable, Transitional or Traditional –in relation to the contribution to decarbonization and circularity objectives We make this classification based on management's evaluation considering life -
cycle assessments of technologies and/or specific project characteristics Sustainability -related backlog, revenue and capex are calculated aggregating items categorized as Transitional or Sustainable
SUSTAINABLE
Includes hydrogen and hydrogen derivatives1from electrolysis (green and pink), e -
fuels, biofuels, SAF, bioplastics from bio -feedstock, plastic upcycling, chemical recycling (depolymerization), Waste -to-X (gasification), renewables and nuclear energy , precious metals recovery
TRANSITIONAL
Includes gas processing with carbon capture, LNG, low -carbon hydrogen and hydrogen derivatives1(blue), carbon capture, biodegradable plastics from fossil feedstock, ultra -low energy urea and nitric acid, phosphate -and potassium -based fertilizers, specialty and NPK2fertilizers, fluorine technologies
TRADITIONAL
All other market segments, including, for example: oil refining, chemicals, petrochemicals, hydrogen and hydrogen derivatives1produced without carbon capture (grey), sulphur recovery units, traditional urea, sulphuric and phosphoric acid, soaps and detergents Not subject to third -party assurance. 1. Including ammonia and methanol. 2. NPK, i.e., Nitrogen (N), Phosphorus (P) and Potassiu m (K).
MAIRE S.P.A.
Via Gaetano De Castillia, 6A 20124 Milan, Italy t. +39 02 63131