Prysmian S.p.A.: Half Year Financial Report at 30 June 2026

ACCELERATING

GROWTH

HALF-YEAR

FINANCIAL REPORT

AT 30 JUNE 2026

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Disclaimer

This document contains forward -looking statements, above all in the "Business outlook" section, that relate to future events and Prysmian's operating performance, results of operations and financial condition. By their nature, forward -looking statements involve risk and uncertainty as they depend on the occurrence of future events and circumstances. Actual outcomes may differ materially from those expressed in forward -

looking statements due to a variety of factors.

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Directors′ Report

DIRECTORS AND AUDITORS ................................ ................................ ................................ ................................ .................... 5 SIGNIFICANT EVENTS DURING THE PERIOD ................................ ................................ ................................ ................ 7 CONSOLIDATED FINANCIAL HIGHLIGHTS ................................ ................................ ................................ ................... 12 PRYSMIAN’S PERFORMANCE AND RESULTS ................................ ................................ ................................ ............. 14 PERFORMANCE OF TRANSMISSION OPERATING SEGMENT ................................ ................................ .......... 18 PERFORMANCE OF POWER GRID OPERATING SEGMENT ................................ ................................ ............. 20 PERFORMANCE OF ELECTRIFICATION OPERATING SEGMENT ................................ ................................ .... 21

PERFORMANCE OF DIGITAL SOLUTIONS OPERATING SEGMENT ................................ .............................. 24

PRYSMIAN’S STATEMENT OF FINANCIAL POSITION ................................ ................................ ............................ 26 ALTERNATIVE PERFORMANCE MEASURES ................................ ................................ ................................ ................ 31 BUSINESS OUTLOOK ................................ ................................ ................................ ................................ ................................ .. 37 FORESEEABLE RISKS FOR 2026 ................................ ................................ ................................ ................................ ......... 38 RELATED PARTY TRANSACTIONS ................................ ................................ ................................ ................................ ...... 39 Condensed Consolidated Half -year Financial Statements CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................ ................................ .................... 41 CONSOLIDATED INCOME STATEMENT ................................ ................................ ................................ ......................... 42 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME ................................ ................................ ...... 42 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Note 10) ................................ ............................... 43 CONSOLIDATED STATEMENT OF CASH FLOWS (Note 25) ................................ ................................ ............... 44 EXPLANATORY NOTES ................................ ................................ ................................ ................................ .............................. 45

1. PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS ................................ ...................... 61

2. EQUITY -ACCOUNTED INVESTMENTS ................................ ................................ ................................ ................... 62

3. TRADE RECEIVABLES, CONTRACT ASSETS AND OTHER RECEIVABLES ................................ ...... 63

4. INVENTORIES ................................ ................................ ................................ ................................ ................................ ....... 63 5. DERIVATIVES ................................ ................................ ................................ ................................ ................................ ......... 64

6. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND OTHER

COMPREHENSIVE INCOME ................................ ................................ ................................ ................................ .............. 64 7. CASH AND CASH EQUIVALENTS ................................ ................................ ................................ .............................. 64 8. ASSETS AND LIABILITIES HELD FOR SALE ................................ ................................ ................................ ....... 65 9. DIRECT TAX ASSETS AND LIABILITIES ................................ ................................ ................................ .................. 65 10. EQUITY ................................ ................................ ................................ ................................ ................................ ..................... 65 11. BANK AND OTHER BORROWINGS ................................ ................................ ................................ ........................ 67

12. TRADE PAYABLES, CONTRACT LIABILITIES AND OTHER PAYABLES ................................ ............ 73

13. PROVISIONS FOR RISKS AND CHARGES ................................ ................................ ................................ .......... 74 14. EMPLOYEE BENEFIT OBLIGATIONS ................................ ................................ ................................ ..................... 81 15. FINANCE COSTS AND INCOME ................................ ................................ ................................ ................................ 81

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3 16. TAXES ................................ ................................ ................................ ................................ ................................ ........................ 82 17. EARNINGS/(LOSS) PER SHARE ................................ ................................ ................................ ................................ 82 18. CONTINGENT LIABILITIES ................................ ................................ ................................ ................................ ........... 83 19. RECEIVABLES FACTORING ................................ ................................ ................................ ................................ ........ 83 20. SEASONALITY ................................ ................................ ................................ ................................ ................................ ..... 83 21. RELATED PARTY TRANSACTIONS ................................ ................................ ................................ ......................... 84 22. ATYPICAL AND/OR UNUSUAL TRANSACTIONS ................................ ................................ ........................... 85 23. COMMITMENTS ................................ ................................ ................................ ................................ ................................ . 85 24. DIVIDENDS ................................ ................................ ................................ ................................ ................................ .......... 85 25. STATEMENT OF CASH FLOWS ................................ ................................ ................................ ................................ 86 26. FINANCIAL COVENANTS ................................ ................................ ................................ ................................ ............ 86 27. EXCHANGE RATES ................................ ................................ ................................ ................................ .......................... 88 28. EVENTS AFTER THE REPORTING PERIOD ................................ ................................ ................................ ...... 89 SCOPE OF CONSOLIDATION – APPENDIX A ................................ ................................ ................................ ............... 91

CERTIFICATION OF THE HALF -YEAR CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

PURSUANT TO ART. 81 -TER OF CONSOB REGULATION 11971 DATED 14 MAY 1999 AS AMENDED

................................ ................................ ................................ ................................ ................................ ................................ ........................ 99 Audit Report ................................ ................................ ................................ ................................ ................................ ......................... 101

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Directors′ Report

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DIRECTORS AND AUDITORS

Board of Directors (4) Chair Francesco Gori (*) (2) Deputy Chair Valerio Battista Chief Executive Officer Massimo Battaini Directors Paolo Amato (*) (1) Jaska Marianne de Bakker (*) (1) Pier Francesco Facchini Richard Keith Palmer (*) (2) Ines Kolmsee (*) (3) Emma Marcegaglia (*) (3) Tarak Mehta (*) (1) Susannah Hall Stewart (*) (3) Annalisa Stupenengo (*) (2)

Board of Statutory Auditors (5) Chair Stefano Sarubbi Standing Statutory Auditors Cecilia Andreoli

Nadia Valenti

Alternate Statutory Auditors Monica Romanin

Vieri Chimenti

Independent Auditors (6) PricewaterhouseCoopers SpA

(*) Independent Director as per Italian Legislative Decree 58/1998 and Italy's Corporate Governance Code for Listed Companies (January 2020 edition) approved by the Italian Corporate Governance Committee, comprising business associations (ABI, ANIA, Assonime, Confindustria), Borsa Italiana SpA (the Italian Stock Exchange) and Assogestioni (Italian investment managers association).

(1) Members of the Control and Risks Committee (2) Members of the Remuneration and Nominations Committee (3) Members of the Innovation and Sustainability Committee (4) Appointed by the Annual General Meeting of 18 April 2024 (5) Appointed by the Annual General Meeting of 16 April 2025 (6) Appointed by the Annual General Meeting of 18 April 2024

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Preface

This Half -year Financial Report for the six months ended June 30, 2026 (hereinafter also “H1 2026”) has been drawn up and prepared:

− in compliance with art. 154 -ter of Italian Legislative Decree 58/1998 and subsequent amendments and with the Issuer Regulations published by the CONSOB (Italy's securities

regulator);

− in compliance with the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and endorsed by the European Union, and in accordance with IAS 34 – Interim Financial Reporting, applying the same accou nting principles and policies adopted in preparation of the Consolidated Financial Statements as of and for the year ended December 31, 2025.

The Condensed Consolidated Half -year Financial Statements have undergone a limited review by the independent auditor.

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SIGNIFICANT EVENTS DURING THE PERIOD

Acquisitions & Divestments

Prysmian completed ACSM acquisition On February 10, 2026, Prysmian announced that it had completed the acquisition of ACSM, a leading provider of submarine cable installation solutions and route planning and seabed preparation services, as announced in January 2026.

Following completion, ACSM has been consolidated on a line -by-line basis in Prysmian’s accounts with effect from February 2026 .

The transaction value is €169 million (after factoring in €24 million in capex for a vessel delivered to ACSM in Q4 2025), subject to a customary adjustment mechanism based on ACSM’s net debt, working capital and capex. The transaction multiple based on the 2024 results is 6.6X EV/EBITDA €€. The transaction will be financed using available cash.

This acquisition will strengthen Prysmian's global leadership in submarine cables. Integrating ACSM will broaden Prysmian's range of solutions for energy and telecom customers as a one -stop shop and accelerate the full vertical integration of its submarine activities, bringing in -house industry know -how and assets.

ACSM, based in Vigo (Spain), has been operating for over 20 years across 60 countries, has more than 350 employees and a track record of hundreds of completed subsea operations . ACSM reported €62 million in revenues in 2024 and EBITDA of €22 million, with net debt of €14.4 million as of December 31, 2024.

New contract awards and other contract -related information Prysmian signed contract for delivery of the Eastern Green Link 4 On February 2, 2026, Prysmian announced that it had signed a contract with the owners of the UK’s national grid, SP Energy Networks' transmission business and National Grid Electricity Transmission Plc, for delivery of the Eastern Green Link 4 (EGL4), a su bsea electricity link.

Prysmian had been selected as the preferred bidder for the project in September 2025.

The contract is worth over €2.3 billion and will now enter Prysmian's backlog of projects.

Eastern Green Link 4 is a new HVDC electricity link that will connect Fife in Scotland with Norfolk in England. It will be capable of transporting up to 2GW of green energy, enough to power around 2 million homes. It is one of five similar projects being d eveloped that will significantly increase the UK’s capacity to move power between Scotland and England .

PRYSMIAN | DIRECTORS' REPORT

8 Prysmian signed framework agreement with Enedis to modernize the French power grid On February 13, 2026, Prysmian announced that it had signed a contract with Enedis worth up to €550 million to become its sole supplier of the full range of MV cables over the next seven years (2026 -2032), including three optional years.

Prysmian is a long -standing partner of Enedis, and signature of this agreement further solidifies Prysmian's French manufacturing excellence with its commitment to supply cables from its production sites in Gron (Yonne) and Montereau -Fault -Yonne (Seine -et-Marne).

Prysmian and Enedis share a common commitment to accelerating the adoption of circular business practices, starting with the use of recycled materials - including critical materials such as base metals - and to reducing carbon emissions throughout the grid thanks to renewabl e energy. Enedis's investment includes specialized cables that can easily integrate into the grid, helping maximize renewable energy adoption in a simple, efficient and cost -effective manner, while bringing down overall carbon emissions - an area in which France is already a European leader. All this is fully in line with Prysmian's strategic ambition to achieve Net Zero Scope 3 emissions by 2035.

As part of its "Accelerating Growth" strategic plan, Prysmian is working to achieve over 55% of its revenues from sustainable solutions by 2028, with this agreement promoting the adoption of circular solutions in cables. Prysmian will use over 12% recycled aluminum and over 30% recycled copper in its cables, as well as recycled polyethylene for the protective jacket, comprising the cable’s outer sheath.

Prysmian concluded framework agreement with Alliander to strengthen the Dutch power

grid

On March 5, 2026, Prysmian announced that it had concluded a framework agreement with Alliander for the supply of MV and LV power cables for use in development and modernization of the Dutch power grid. The award covers an eight -year period and could be wo rth up to approximately €500 million.

Prysmian was selected to partner Alliander in the coming years as the Netherlands expands, reinforces and future -proofs its electricity distribution network, whilst also integrating renewable energy sources into the grid.

Prysmian receives the Notice to Proceed for the Italy -Tunisia electrical interconnector On June 22, 2026, Prysmian announced that it has received from Terna, the Italian transmission operator, and STEG the Tunisian electricity grid and gas operator, the NTP for the construction of the submarine power interconnection between Italy and Tunisia, ELMED.

The value of the contract is about €460 million and will now be included in Prysmian’s backlog of projects.

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9 Further details can be found in the communication made at the time of the award, in September 2025.

Prysmian secures framework agreement in Greece for island connections On June 22, 2026, Prysmian announced that it has been awarded a framework agreement with the Greek electricity grid operator IPTO (Independent Power Transmission Operator) for a value of around €910 million for the development of electrical interconnection s for the Dodecanese and North Aegean islands in Greece.

The project will support energy infrastructure in Greece and will bring significant benefits to the islands and the national -economy overall thanks to the greater reliability and enhanced efficiency in the country's national grid.

Under the framework agreement, Prysmian will design, manufacture and install submarine and land -based cables for "Lot B" comprising seven projects totaling over 900 km of HVAC (High Voltage Alternating Current) cables, with final delivery of this critical infrastructure expected in 2033, and reaching water depths of up to 1,150 meters and setting a new record depth for a static three -core HVAC cables.

Prysmian has previously worked with IPTO to deliver several successful projects including Cyclades Islands interconnections (Evia, Andros and Tinos, and Syros -Lavrio), the Crete -Attica and the Crete -Peloponnese, where Prysmian set the previous record depth in the HVAC (High Voltage Alternating Current) field, installing cables at approximately 960 meters under the sea.

The signing of the framework agreement is subject to customary statutory conditions and regulatory clearances, and its execution is conditional upon the issuance of a notice to proceed by the customer.

Prysmian: Transpower issues Notice to Proceed for Cook Strait HVDC link upgrade On June 30, 2026, Prysmian announced that has received the Notice to Proceed (NTP) for the Cook Strait HVDC Link Upgrade from Transpower New Zealand, marking the full activation of the project’s delivery. It will now be included in Prysmian’s Backlog of pr ojects.

The NTP follows the successful completion of preparation activity, as previously outlined.

The Cook Strait HVDC link is a critical asset for New Zealand’s transmission system, enabling the efficient transfer of energy between the South and North Islands and strengthening the reliability of New Zealand's national grid.

PRYSMIAN | DIRECTORS' REPORT

10 Other significant events Prysmian took next step in increasing the power in affordable submarine cables On March 2, 2026, Prysmian announced that it had completed testing and is ready to launch the new global standard for HVDC submarine cable systems, qualifying the use of 525kV submarine power cables at increased operating temperatures of up to 90°C.

This breakthrough, which is founded on the higher withstand temperature of the cable plastic insulation while operating, means that the maximum power that can be transmitted through a single 525kV link increases from today's standard of 2GW to 2.5GW – and this power can already be deployed in the existing HVDC network infrastructure, with no impacts on the rest of the system.

Prysmian’s Sirocco Ultra cables boosted efficiency for high density broadband, data centers and 5G rollout On March 4, 2026, Prysmian announced that it had launched a new cable solution, the Sirocco Ultra, the first microduct cable featuring 160µm optical fiber. The cable will be an essential component in data center, Fiber -to-the-x and 5G applications that dep end on high -density data transfer.

Prysmian created the world’s first negative -carbon -footprint cable On March 24, 2026, Prysmian announced that it had created the world’s first ever negative -

carbon -footprint cable, a significant breakthrough in reducing carbon emissions. This assessment uses a cradle -to-gate approach, meaning the cable’s sourcing and manufacturing processes remove more carbon emissions than they release, delivering a real positive climate benefit.

Prysmian will now begin the process of putting the technology into production across its global manufacturing footprint to supply its Power Grid Customers. The technology is patent pending, ensuring Prysmian’s leadership in development of the most advanced cable solutions.

Annual Shareholders' meeting On April 16, 2026 the Annual General Meeting of Prysmian SpA’s shareholders (“AGM”) approved the 2025 Financial Statements and payment of a gross dividend of €0.90, equal to a total amount of approximately €258 million. The dividend was payable from April 22, 2026, with a record date of April 21, 2026 and an ex -dividend date of April 20, 2026.

The AGM approved renewal of the Board of Directors’ authority to buy back and dispose of treasury shares for a period of 18 months, effective April 16, 2026 regarding purchases, and with no time limit regarding disposals. This authority allows for the poss ibility to buy back, in one or more tranches, a maximum number of shares that, in any event, shall not exceed 10% of the overall share capital.

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11 The AGM also approved the equity -based Long -Term Incentive Plan (2026 -2028) reserved for employees and Executive Directors of the Company and Prysmian Group companies, granting the Board of Directors the appropriate powers to implement the Plan. The Plan i s designed to motivate management to create sustainable long -term value.

In line with the recommendation from the Board of Statutory Auditors, and to take into account additional audit activities, the AGM also approved additional audit fees payable to EY SpA for the statutory audit relating to the 2024 financial year and to Pri cewaterhouseCoopers SpA for the statutory audit relating to the financial years from 2025 to 2033.

The AGM approved Section I of the “Report on the Remuneration Policy and Compensation Paid” for 2026 and voted in favor of Section II relating to compensation paid in 2025.

During the extraordinary session, the AGM also approved:

• a bonus share issue pursuant to article 2349 of the Italian Civil Code, to be reserved for Prysmian Group employee s in implementation of the aforementioned plan. The capital increase may be carried out through the issue of up to 4,000,000 no -par ordinary shares;

• a reduction in the capital increase to serve the share allocation plan for Prysmian Group employees approved by the AGM of April 12, 2022;

• a reduction in the capital increase, not yet carried out, to serve the incentive plan for Prysmian Group employees appro ved by the AGM of April 19, 2023;

• mandate authority to the Board of Directors - to be exercised by and up to the closing date of April 16, 2028 – for a poten tial increase the share capital for consideration, in one or more tranches, in divisible basis, within the limit of 10% of the share capital. This is to take place through the issue of up to 29,640,380 no -par ordinary shares, with the exclusion of pre-emptive rights pursuant to article 2441, fourth paragraph, second sentence of the Italian Civil Code.

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CONSOLIDATED FINANCIAL HIGHLIGHTS

(€m)

H1 2026 H1 2025 (*) % change FY 2025 Revenues 11,239 9,654 16.4% 19,650

Adj. EBITDA (1) 1,331 1,132 17.6% 2,398

Net profit 584 435 34.3 % 1,294 (*) C omparative data as of 30 June 2025 have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell.

(€m)

June 30, 2026 June 30, 2025 (*) Change December

31, 2025

Net invested capital 11,663 10,599 1,064 10,056 Net financial debt 4,079 4,694 (615) 3,097 (*) C omparative data as of 30 June 2025 have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell.

In terms of ESG performance, Prysmian continues to create value to share with stakeholders. The following table summarizes the indicators that are also included in short - and long -term incentive schemes and are reportable on an interim basis:

* June 30, 2026 December 31, 2025 Change Percentage reduction in Scope 1 and Scope 2 CO₂ emissions vs FY 2019 baseline (2) -42.0% -40.2% -1.8% New Product and Solution Vitality (3) 32.1% 28.3% 3.8% Proportion of revenues from sustainable solutions (4) 45.9% 43.7% 2.2% Percentage of recycled content in addressable materials (5) 25.0% 21.8% 3.2% Percentage of women in executive positions (job grade ≥ 20) (6) 21.1% 22.6% -1.5% Percentage of female desk workers on permanent contracts (7) 41.4% 48.4% -7.0% (*) Aside from sustainability -linked revenues, none of the ESG metrics include Channell, acquired in June 2025, and Alesea and ACSM.

acquired in February 2026.

(1) Adjusted EBITDA is defined as EBITDA before income and expenses for business reorganization, non -recurring items and other non -operating income and expenses.

(2) Reduction in GHG emissions linked to operational sites (Scope 1 and 2) versus 2019, in line with SBTi target. Scope 2 is calculated using a market -based method. The reduction is calculated on a rolling last 12 -month basis with respect to the 2019 baseline.

(3) Turnover generated by sales of new products/solutions as a percentage of total turnover over a time scale of three years, starting from the first customer order. The timescale for the Transmission BU is 6 years. New products/solutions consist of market -ready products, systems or services that have required a major commitment in terms of R&D to be developed and that contain new components.

(4) Percentage of total revenues generated by products and solutions with a net positive environmental impact, or a reduced negative environmental impact compared with industry standards. Sustainability -linked revenues, as defined in the OI -R&D -CD-002 operati ng procedure, are revenues from products and solutions that meet E Path, E3X, Green Overhead Lines, Green Al Rod & Strip, Sirocco and Transmission BU criteria.

(5) Share of recycled content with respect to total purchases of the following materials: copper, PE for jackets, steel and lead. The addressable volume for lead is limited to the market for extruded submarine cable in the Transmission BU; the addressable volu me for steel is limited to the market for Overhead Lines in North America; the addressable volume for polyethylene is limited to the market for LV and MV cable jackets.

PRYSMIAN | DIRECTORS' REPORT

13 (6) Women executives (job grade 20 and above) as a share of the total number of executive employees. Job grades of 20 and over refer to the most senior management and leadership positions within the organization. This generally regards key management personnel with broad responsibility for decision -making and resource management and a significant impact on the entity's financial, social and environmental performance. These management grades make a decisive contribution to defining the entity's policies and governance and to implementing sustainability goals. The KPI demonstrates the Group’s ability to both promote people to leadership roles from within the organization and to hire them in the market, in addition to its ability to retain talent.

(7) Percentage of female desk workers on permanent contracts out of the total number of desk workers on permanent contracts. The indicator includes all externally hired desk workers (including professional programs) and all conversions from agency/fixed -term t o permanent contracts.

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PRYSMIAN’S PERFORMANCE AND RESULTS

(€m)

H1 2026 H1 2025 (*) % change FY 2025 Revenues 11,239 9,654 16.4% 19,650 Revenues at standard metal prices 8,986 8,215 9.4% 16,843

Adj. EBITDA 1,331 1,132 17.6% 2,398

% of revenues at current metal prices 11.8% 11.7% 12.2% % of revenues at standard metal prices 14.8% 13.8% 14.2%

EBITDA 1,276 1,134 12.5% 2,688

% of revenues 11.4% 11.7% 13.7% Change in fair value of commodity derivatives 32 (56) (24) Fair value share -based payments (34) (40) (90) Amortization, depreciation, impairments and impairment reversals (368) (297) (646) Operating income 906 741 22.3% 1,928 % of revenues 8.1% 7.7% 9.8% Net finance income/(costs) (117) (145) (274) Profit before taxes 789 596 32.4% 1,654 % of revenues 7.0% 6.2% 8.4% Taxes (205) (161) (358) Net profit (loss) from discontinued operations - - (2) Net profit 584 435 34.3% 1,294 % of revenues 5.2% 4.5% 6.6%

Attributable to:

Owners of the parent 569 424 1,270 Non -controlling interests 15 11 24

Reconciliation of EBITDA to Adj. EBITDA

EBITDA (A) 1,276 1,134 12.5% 2,688

Adjustments:

Business reorganization 40 8 35 Non -recurring expenses/(income) 11 2 16 Other non-operating expenses/(income) 4 (12) (341) Total adjustments (B) 55 (2) (290)

Adj. EBITDA (A+B) 1,331 1,132 17.6% 2,398

(*) C omparative data as of 30 June 2025 have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell.

Revenues amounted to € 11,239 million in H1 2026 versus € 9,654 million in the same period of 2025, with an increase of € 1,585 million (+ 16.4%).

Revenue growth was mainly driven by:

- organic sales growth, accounting for an increase of € 697 million (+ 7.2%);

- exchange rate headwinds of € 302 million ( -3.1%);

- metal price fluctuations (copper, aluminum and lead), generating a sales price increase of €1,089 million (+ 11.3%);

- the change in the scope of consolidation, adding € 101 million (+ 1.0%).

It should be noted that organic revenue growth has been calculated excluding changes in the scope of consolidation, changes in the price of copper, lead and aluminum and exchange rate effects.

PRYSMIAN | DIRECTORS' REPORT

15 Half year organic growth breaks down as follows:

• Transmission (+ 7.3%);

• Power Grid (+1 4.5%);

• Electrification (+ 3.9%);

• Digital Solutions (+ 13.8%).

In the second quarter, revenues amounted to €6,0 21 million, versus €4,883 million in the same period of the previous year, reflecting organic growth of 9. 4%. Positive organic growth was recorded across all segments: the Transmission segment (+14.3%), the Power Grid segment (+13.0%), the Electrification segment (+5.5%) and Digital Solutions segment (+18.0%) . Within Electrification segment the Industrial & Construction business recorded an organic growth of +9.1% driven by data center demand in North America while the Specialties business reported organic growth of -2.4%.

In the following discussion, Adjusted EBITDA margins are based on standard metal prices1.

Prysmian's Adjusted EBITDA (before € 40 million in net expenses for business reorganization, €1 1 million in net non -recurring expenses and € 4 million in other net non -operating costs ) amounted to € 1,331 million in H1 2026, up € 199 million (+1 7.6%) on the corresponding 2025 figure of € 1,1132 million. The Adjusted EBITDA margin on sales, valued at standard copper, lead and aluminum prices, was 14. 8% in H1 2026, up from 13. 8% in the prior year period.

The Transmission segment set its best -yet level of profitability with strong growth in Adjusted EBITDA, which rose to €1 79 million in Q 2 2026 (€ 125 million in Q 2 2025), with a 2 1.2% margin on sales (1 7.1% in Q 2 2025). The Power Grid segment reported Adjusted EBITDA of € 135 million (€1 34 million in Q 2 2025), with a margin of 1 3.8% (15. 6% in Q 2 2025) , recording a sequential improvement versus Q1 2026 when margin was 12.4% . In the Electrification segment, the Industrial & Construction business posted Adjusted EBITDA of € 228 million (€ 208 million in Q 2 2025), with a margin of 13. 6% (14.1% in Q 2 2025), while the Specialties business reported Adjusted EBITDA of €67 million (€7 4 million in Q 2 2025), with a margin of 1 0.8% (11. 4% in Q 2 2025). Digital Solutions maintained positive momentum, increasing Adjusted EBITDA to € 122 million, with a significant acceleration in margins resulting 23.8%, versus 1 6.8% in the prior year period , thanks to optical cables , tied to increased fiber demand, as well as a positive contribution from Channell .

1 Standard metal prices are defined as follows: standard copper price of €5,500 per ton; standard aluminum price of €1,500 per ton; standard lead price of €2,000 per ton.

PRYSMIAN | DIRECTORS' REPORT

16 EBITDA, stated after net non -operating costs , expenses for business reorganization, and net non -

recurring expenses of € 55 million ( positive €2 million in H1 2025), increased to € 1,276 million (€1,134 million in H1 2025).

Amortization, depreciation and impairment of € 368 million in H1 2026 were up from € 297 million in the prior year period, mainly due to the consolidation of Channell.

Fair value gains on commodity derivatives amounted to € 32 million in H1 2026, compared with losses of €5 6 million in the same period of 2025.

A total of € 34 million in costs were recognized in H1 2026 to account for the effects of share -based compensation plans for executive directors, managers and employees, compared with € 40 million in the prior year period.

The above performance resulted in operating income of € 906 million versus € 741 million in H1 2025, with an increase of €1 65 million.

Net finance costs of € 117 million in H1 2026 were down from € 145 million in the prior year period.

Tax expense of € 205 million represented an effective tax rate of 26. 0% versus 27.0% in the prior year period . This rate reflects the expected average effective tax rate for FY 2026.

Net profit for H1 2026 amounted to € 584 million (of which € 569 million attributable to owners of the parent), compared with € 435 million in the same period of 2025 (of which € 424 million attributable to owners of the parent).

Net Financial Debt decreased to € 4,079 million from €4, 694 million on June 30, 2025.

The decrease mainly reflects:

• Free Cash Flow of €978 million in the last twelve months, generated by:

o €2,099 million in net cash flow from operating activities (before changes in net

working capital);

o €210 million in net cash used for changes in net working capital;

o €703 million in cash used for net capital expenditure;

o €216 million in net finance costs payments;

o €8 million in dividends received from associates;

• recognition of interest expense of €52 million on the hybrid bond;

• proceeds from the sale of the stake in YOFC and other disposals of € 580 million;

• M&A activities (€328 million) , mainly the acquisition of Channell and ACSM ;

PRYSMIAN | DIRECTORS' REPORT

17 • the dividend paid to shareholders (€ 268 million).

For a better understanding of Prysmian's financial performance, the following tables present revenues, Adj. EBITDA and related margins by segment for both periods, at both current and standard metal prices:

(€m)

Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Transmission 754 146 727 146 882 179 846 179 % of Revenues 19.4% 20.1% 20.3% 21.2% Power Grid 1,012 107 871 107 1,206 135 980 135 % of Revenues 10.6% 12.4% 11.2% 13.8% Electrification 3,001 260 2,208 260 3,393 294 2,413 294 % of Revenues 8.7% 11.8% 8.7% 12.2% Industrial & Construction 2,160 196 1,537 196 2,396 228 1,673 228 % of Revenues 9.1% 13.0% 9.5% 13.6% Specialties 696 64 562 64 813 67 622 67 % of Revenues 9.2% 11.1% 8.2% 10.8% Digital Solutions 451 88 428 88 540 122 513 122 % of Revenues 19.5% 20.6% 22.6% 23.8% Total 5,218 601 4,234 601 6,021 730 4,752 730 % of Revenues 11.5% 14.2% 12.1% 15.4%Q2 2026 Current metal price Standard metal priceQ1 2026 Current metal price Standard metal price

(€m)

Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Revenues Adjusted EBITDA Transmission 743 124 733 124 743 125 734 125 % of Revenues 16.6% 16.9% 16.9% 17.1% Power Grid 874 116 759 116 991 134 862 134 % of Revenues 13.3% 15.2% 13.6% 15.6% Electrification 2,815 245 2,222 245 2,762 283 2,214 283 % of Revenues 8.7% 11.0% 10.3% 12.8% Industrial & Construction 1,923 173 1,479 173 1,878 208 1,486 208 % of Revenues 9.0% 11.6% 11.1% 14.1% Specialties 777 74 647 74 774 74 654 74 % of Revenues 9.5% 11.5% 9.6% 11.4% Digital Solutions 339 42 320 42 387 63 371 63 % of Revenues 12.5% 13.2% 16.1% 16.8% Total 4,771 527 4,034 527 4,883 605 4,181 605 % of Revenues 11.0% 13.1% 12.4% 14.5%Q1 2025 Current metal price Standard metal priceQ2 2025 Current metal price Standard metal price

PRYSMIAN | DIRECTORS' REPORT

18

PERFORMANCE OF TRANSMISSION OPERATING SEGMENT

(€m)

H1 2026 H1 2025 % change FY 2025 Revenues 1,636 1,486 10.1% 3,262 Revenues at standard metal prices 1,573 1,467 7.2% 3,188

Adj. EBITDA 325 249 30.5% 582

% of revenues at current metal prices 19.9% 16.8% 17.8% % of revenues at standard metal prices 20.7% 17.0% 18.3% Adjustments (6) (1) (3)

EBITDA 319 248 28.6% 579

% of revenues 19.5% 16.7% 17.8%

The Transmission operating segment is focused on renewable energy transmission using innovative cable solutions. It incorporates the following high -tech, high value -added businesses:

High Voltage Direct Current (HVDC), Network Components High Voltage, Submarine Power, Submarine Telecom, Offshore Specialties and EOSS High Voltage.

FINANCIAL PERFORMANCE

Transmission segment revenues rose to € 1,636 million in H1 2026, versus € 1,486 million in the same period of 2025, an increase of € 150 million (+ 10.1%).

The improvement was driven by:

- organic sales growth, accounting for an increase of € 109 million (+ 7.3%);

- metal price fluctuations, resulting in an increase of € 29 million (+ 1.9%);

- exchange rate headwinds of €2 million;

- an increase of € 14 million (+0. 9%) related to the change in the scope of consolidation.

The Transmission segment's organic growth is mainly attributable to the Submarine Power and HVDC businesses.

The main Submarine Power projects on which work was performed during the period were:

- the Neuconnect, Tyrrhenian, EGL1 and Biscay Bay interconnection projects;

- the Balwin 1, Dolwin 4 , Borwin 4 and Ijmuiden offshore wind projects.

The HVDC business recorded strong growth, mainly thanks to the German Corridors. Revenues in the period were generated from cable manufacturing activities at the Group's industrial facilities and installation activities as part of project execution, carried out usi ng both proprietary and third -party machinery and equipment.

PRYSMIAN | DIRECTORS' REPORT

19 Adjusted EBITDA amounted to € 325 million in H1 2026, 30.5% up on the figure of € 249 million reported in the same period of 2025, with a 20. 7% margin at standard metal prices. This is sharply up from 1 7.0% in the prior year period, marking best in class profitability.

These results were primarily driven by increased capacity, meticulous on -time project execution and the start of new projects with better margins.

In the second quarter, revenues increased significantly to €8 82 million, delivering double -digit organic growth of 1 4.3%. Adjusted EBITDA also improved, rising to €17 9 million in the second quarter of 2026 from €125 million in the second quarter of 2025. The s tandard metal price EBITDA margin further increased to 21. 2%, the highest level ever recorded, compared with 17.1% in the second quarter of 2025.

The segment’s organic growth was supported by the use of innovative technological solutions aimed at minimizing its impact on communities and nature.

The Transmission segment is a key player in energy transition processes, since, as a solutions provider, it offers its customers a full range of solutions for the implementation of renewable energy generation and distribution projects.

As evidence of this megatrend, the value of the Group's Submarine Power order backlog has reached €12. 9 billion, mainly consisting of:

- offshore wind contracts: DolWin4, BorWin4, Ijmuiden Ver, the Amprion Framework Agreement and the 50 Hertz Framework Agreement;

- interconnection contracts: Biscay Bay, Marinus, NeuConnect, Adriatic Link, EGL1, EGL2 and EGL4.

Prysmian's HVDC order backlog is worth approximately € 3.8 billion, and includes the German Corridors contracts, the Amprion Framework Agreement and the 50 Hertz Framework Agreement.

The Transmission segment's order backlog is worth approximately €1 7 billion as of June 30, 2026 , including €406 million and €237 million related to the Tun.Ita and Cook Strait projects, respectively. Notice to Proceed was received for the latter project in the second quarter of 2026.

In addition, contract awards worth approximately €2.2 billion are not yet reflected in the backlog and should be taken into account. These include the IPTO FA project, worth €911 million, which was awarded in the second quarter of 2026.

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20

PERFORMANCE OF POWER GRI D OPERATING SEGMENT

(€m)

H1 2026 H1 2025 % change FY 2025 Revenues 2,218 1,865 18.9% 3,811 Revenues at standard metal prices 1,851 1,621 14.2% 3,343

Adj. EBITDA 242 250 -3.2% 480

% of revenues at current metal prices 10.9% 13.4% 12.6% % of revenues at standard metal prices 13.1% 15.4% 14.4% Adjustments 12 (1) 9

EBITDA 254 249 2.0% 489

% of revenues 11.5% 13.3% 12.8%

The Power Grid operating segment incorporates the businesses that support power grid modernization with innovative technologies. This segment is divided into the following lines of business: High Voltage Alternate Current (HVAC), Power Distribution, Overhead Lines, Network Components Medium Voltage/Low Voltage, EOSS Medium Voltage/Low Voltage.

FINANCIAL PERFORMANCE

Power Grid segment revenues amounted to € 2,218 million in H1 2026, versus € 1,865 million in the same period of 2025.

Revenue growth of € 353 million (+1 8.9%) was driven by:

- organic sales growth of € 270 million (+1 4.5%);

- a sales price increase of € 150 million (+ 8.0%) due to metal price fluctuations;

- exchange rate headwinds of € 67 million ( -3.6%).

Outstanding double -digit organic growth was recorded across all Regions. Adjusted EBITDA amounted to € 242 million in H1 2026, versus € 250 million in the prior year period . The Power Grid segment posted a margin at standard metal prices of 1 3.1% in H1 2026, versus 15. 4% in the prior year period.

In the second quarter, revenues increased significantly to €1,206 million, marking organic growth of 13.0%.

Adjusted EBITDA for the second quarter of 2026 amounted to €135 million, compared with €134 million in the same period of the previous year. The margin at standard metal prices was 13.8%, compared with 15.6% in the second quarter of 2025. The margin improved sequentially compared to Q1’26 (+1.4%) and is expected to continue in this direction in the second half of the year .

PRYSMIAN | DIRECTORS' REPORT

21

PERFORMANCE OF ELECTRIFICATION OPERATING

SEGMENT

(€m)

H1 2026 H1 2025 % change 2025 Revenues 6,394 5,577 14.6% 10,959 Revenues at standard metal prices 4,62 1 4,436 4,2% 8,760

Adj. EBITDA 554 528 4.9% 1,068

% of revenues at current metal prices 8.7% 9.5% 9.7% % of revenues at standard metal prices 12.0% 11.9% 12.2% Adjustments (56) (17) (50)

EBITDA 498 511 -2.5% 1,018

% of revenues 7.8% 9.2% 9.3%

The Electrification operating segment incorporates different businesses within the power sector, offering a comprehensive and innovative product portfolio designed to meet growing demand for electricity in various market sectors, namely :

− Industrial and Construction;

− Specialties, in turn comprising OEM, Renewables, Elevators, Automotive, Oil & Gas and Downhole Technologies (DHT);

− Other: occasional sales of residual products.

FINANCIAL PERFORMANCE

Electrification segment revenues amounted to € 6,394 million in H1 2026, versus € 5,577 million in the prior year period, an increase of € 817 million (+ 14.6%). Growth was driven by the following:

- organic sales growth of € 217 million (+ 3.9%);

- exchange rate headwinds of € 202 million ( -3.6%);

- a sales price increase of € 890 million (+1 5.9%) due to metal price fluctuations;

- a reduction of € 88 million ( -1.6%) related to the change in the scope of consolidation.

Adjusted EBITDA amounted to € 554 million, up € 26 million (+ 4.9%) versus € 528 million in H1 2025.

The Electrification segment posted a 1 2.0% margin at standard metal prices in H1 2026, versus 11.9% in the prior year period.

Market trends and financial performance in each of the Electrification segment's business areas are described below.

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22

INDUSTRIAL & CONSTRUCTION

(€m)

H1 2026 H1 2025 % change FY 2025 Revenues 4,556 3,801 19.9% 7,519 Revenues at standard metal prices 3,210 2,965 8.3% 5,918

Adj. EBITDA 424 381 11.3% 795

% of revenues at current metal prices 9.3% 10.0% 10.6% % of revenues at standard metal prices 13.2% 12.9% 13.4%

The Industrial & Construction business comprises a portfolio of low and medium -voltage rigid and flexible products for the distribution of power to and within residential, commercial and industrial buildings; the customer portfolio mainly consists of distributors and installers .

FINANCIAL PERFORMANCE

Industrial & Construction revenues amounted to € 4,556 million in H1 2026, versus € 3,801 million in the prior year period, an increase of € 755 million (+1 9.9%). Growth was driven by:

- organic sales growth of € 283 million (+ 7.4%);

- exchange rate headwinds of €15 4 million ( -4.0%);

- a sales price increase of € 626 million (+1 6.5%) due to metal price fluctuations.

Adjusted EBITDA amounted to € 424 million in H1 2026, up € 43 million (+1 1.3%) compared with €381 million in the prior year period. The margin at standard metal prices was 13. 2% in H1 2026, versus 1 2.9% in the prior year period.

In the second quarter of 2026 there was a strong increase in both organic growth and Adjusted EBITDA, thanks primarily to data center demand in North America (with organi c growth of 13.4%) .

Revenues amounted to €2,396 million, with organic growth of +9.1%, compared with €1,878 million in the second quarter of 2025. Adjusted EBITDA rose to €228 million, versus €208 million in the second quarter of 2025, while the Adjusted EBITDA margin at standard metal prices stood at 13.6%, compared with 14.1% in the secon d quarter of 2025.

SPECIALTIES

(€m)

H1 2026 H1 2025 % change FY 2025 Revenues 1,509 1,551 -2.7% 2,983 Revenues at standard metal prices 1,184 1,301 -9.0% 2,506

Adj. EBITDA 131 148 -11.5% 279

% of revenues at current metal prices 8.7% 9.6% 9,4% % of revenues at standard metal prices 11.1% 11.4% 11.1%

PRYSMIAN | DIRECTORS' REPORT

23 The Specialties business encompasses cables and products for OEM applications, Renewables, Elevators, Automotive, Oil & Gas and Downhole technologies (DHT) .

FINANCIAL PERFORMANCE

Specialties revenues amounted to € 1,509 million in H1 2026, versus € 1,551 million in the prior year period, a reduction of € 42 million ( -2.7%). The reduction was driven by:

- negative organic sales growth of € 66 million ( -4.3%);

- exchange rate headwinds of €4 1 million ( -2.6%);

- a reduction of € 87 million ( -5.6%) related to the change in the scope of consolidation, following the sale of some factories operating for the Automotive business;

- a sales price increase of € 152 million (+ 9.8%) due to metal price fluctuations.

Adjusted EBITDA of € 131 million for H1 2026 was down from € 148 million in the prior year period, a reduction of €1 7 million ( -11.5%). The margin at standard metal prices was 11. 1% in H1 2026 substantially stable compared with the 11. 4% of the prior year period.

In Q2 2026, revenues reached €813 million, reflecting a negative organic growth of 2.4%. Adjusted EBITDA for the quarter amounted to €67 million, compared with €74 million in the same period of the previous year. The EBITDA margin at standard metal prices stood at 10.8%, compared with 11.4% in the second quarter of 2025 , resilient despite soft market conditions .

OTHER

(€m)

H1 2026 H1 2025 FY 2025

Revenues 329 225 457

Adj. EBITDA (1) (1) (6)

This business area encompasses occasional sales by Prysmian operating units of intermediate goods, raw materials or other products used in the production process. These revenues are usually linked to local business situations, do not generate high margins and may vary in size and from period to period .

PRYSMIAN | DIRECTORS' REPORT

24

PERFORMANCE OF DIGITAL SOLUTIONS OPERATING

SEGMENT

(€m)

H1 2026 H1 2025 % change FY 2025 Revenues 991 726 36.5% 1.618 Revenues at standard metal prices 941 691 36.2% 1.552

Adj. EBITDA 210 105 100.0% 268

% of revenues at current metal prices 21.2% 14.4% 16.6% % of revenues at standard metal prices 22.3% 15.1% 17.3% Adjustments (5) 21 334

EBITDA 205 126 62.7% 602

% of revenues 20.7% 17.4% 37.2%

The Digital Solutions operating segment produces cable systems and telecom network connectivity products. This segment is organized into the following lines of business: optical fiber, optical cables, connectivity components and accessories, OPGW (Optical Ground Wire) and copper cables. This segment consists of the following businesses: Optical Fiber , MMS Multimedia Specials and Telecom Solutions.

FINANCIAL PERFORMANCE

Digital Solutions segment revenues amounted to € 991 million in H1 2026, versus € 726 million in the same period of 2025. Growth of € 265 million (+3 6.5%) was driven by:

- organic sales growth of € 101 million (+ 13.8%);

- a sales price increase of € 20 million (+ 2.8%) due to metal price fluctuations;

- exchange rate headwinds of € 31 million ( -4.2%);

- an increase of €1 75 million (+2 4.1%) related to the change in the scope of consolidation, following the Channell acquisition in June 2025.

Digital Solutions maintained the positive momentum of 2025 in the first half of 2026, supported by the contribution from Channell and increased fiber demand from data centers, as well as 5G and FTTH rollouts.

Adjusted EBITDA amounted to € 210 million in H1 2026, double the figure of €105 million for the same period of 2025 and marking an increase of €10 5 million (+100.0%). The main contribution to Digital Solutions EBITDA came from the acquisition of Channell, consolidated with effect from June 1, 2025, and increased fiber demand from data centers, as well as 5G and FTTH rollouts.

The Digital Solutions segment posted a margin at standard metal prices of 2 2.3% in H1 2026, versus 1 5.1% in the prior year period.

PRYSMIAN | DIRECTORS' REPORT

25 In Q2 2026 revenues increased to €540 million, delivering organic growth of 18.0%. Adjusted EBITDA for the second quarter of 2026 amounted to €12 2 million, almost doubled compared with €63 million in the second quarter of 2025. The EBITDA margin at standard metal prices rose to 23.8% in the second quarter of 2026, marking a significant improvement on both the second quarter of 2025 (16.8%) and the first quarter of 2026 (20.6%).

Digital Solution s is well placed to benefit from surging global demand for fiber and optical cables, primarily driven by data centers, thanks to its proprietary fiber technology and its manufacturing capacity, including its advantageous position as one of the few US domest ic producers of fiber.

In addition, Prysmian is the only cable player that offers data center solutions for both digital and energy purposes.

In July 2026, Prysmian entered into a significant commercial agreement that is expected to support future growth opportunities in the data center market, as further described in the “Subsequent Events” section of this Half -Year Financial Report.

PRYSMIAN | DIRECTORS' REPORT

26

PRYSMIAN’S STATEMENT OF FINANCIAL POSITION

RECLASSIFIED STATEMENT OF FINANCIAL POSITION

(€m)

June 30, 2026 June 30, 2025(*) Change December 31,

2025 (*)

Net fixed assets 11,017 10,560 457 10,591 Net working capital 1,774 1,110 664 545 Provisions and net deferred tax assets/liabilities (1,128) (1,071) (57) (1,080) Net invested capital 11,663 10,599 1,064 10,056 Employee benefit obligations 271 296 (25) 279 Total equity 7,313 5,609 1,704 6,680 of which attributable to non -controlling interests 220 190 30 206 Net financial debt 4,079 4,694 (615) 3,097 Total equity and sources of funds 11,663 10,599 1,064 10,056 (*) Comparative amounts as of June 30, 2025 and December 31, 2025 have been modified compared with the figures originally published, following completion of the purchase price allocation of Channell and other reclassifications.

NET FIXED ASSETS

(€m)

June 30, 2026 June 30 , 2025(*) Change December 31,

2025 (*)

Property, plant and equipment 5,503 5,022 481 5,279 Intangible assets 5,465 5,300 165 5,255 Equity -accounted investments 43 168 (125) 43 Other investments at fair value through other comprehensive income 5 13 (8) 5 Assets held for sale (**) 1 57 (56) 9 Net fixed assets 11,017 10,560 457 10,591 (*) Comparative amounts as of June 30, 202 5 and December 31 , 2025 have been modified compared with the figures originally published, following completion of the purchase price allocation of Channell and other reclassifications.

(**) Excluding the value of financial assets and liabilities held for sale .

As of June 30, 2026, net fixed assets amounted to €1 1,017 million, versus €10,59 1 million as of December 31, 2025, an increase of € 426 million. This is due to the combined effect of the

following:

- €50 million resulting from first -time consolidation of the newly acquired ACSM;

- €4 million resulting from first -time consolidation of the newly acquired Alesea;

- €104 million resulting from recognition of provisional goodwill arising on the acquisition

of ACSM;

- €22 million resulting from recognition of provisional goodwill arising on the acquisition

of Alesea;

- €282 million in net capital expenditure on property, plant and equipment and intangible

assets;

- €362 million in amortization, depreciation and impairment for the period;

- a €107 million increase in property, plant and equipment accounted for in accordance with IFRS 16;

- €225 million in positive currency translation differences affecting the value of property, plant and equipment and intangible assets;

PRYSMIAN | DIRECTORS' REPORT

27

- €8 million decrease in assets held for sale , of which €6 million of impairment ;

- €2 million in monetary revaluations due to hyperinflation.

NET WORKING CAPITAL

(€m)

June 30, 2026 June 30, 2025(*) Change December 31,

2025

Inventories 3,639 3,046 593 3,066 Trade receivables 3,486 2,810 676 2,428 Trade payables (3,595) (2,712) (883) (2,798) Other receivables/(payables) (1,919) (1,972) 53 (2,260) Net operating working capital 1,611 1,172 439 436 Derivatives 294 (15) 309 249 Direct tax assets and liabilities (131) (47) (84) (140) Net working capital 1,774 1,110 664 545 (*) Comparative amounts as of June 30, 2025 have been modified compared with the figures originally published, following completion of the purchase price allocation of Channell and other reclassifications.

Net working capital of €1, 774 million as of June 30 , 2026 was € 664 million higher than the corresponding figure of €1, 110 million as of June 30, 2025. Net operating working capital, which excludes the value of derivatives and direct tax assets and liabilities, amounted to €1, 611 million as of June 30, 2026, up €439 million from €1, 172 million as of June 30, 2025. The resulting ratio to annualized last -quarter revenues is 6.7% ( 6.0% in the prior year period) .

PRYSMIAN | DIRECTORS' REPORT

28

NET FINANCIAL DEBT

The following table provides a detailed breakdown of net financial debt :

(€m)

June 30, 2026 June 30, 2025 Change December 31,

2025

Long -term financial liabilities CDP Loans 195 120 75 120 EIB Loans 777 332 445 677 Sustainability -Linked Term Loan 2022 1,198 1,196 2 1,197 €850m bond 849 846 3 847 €650m bond 646 644 2 645 Unicredit Loan 149 149 - 149 Mediobanca Loan 150 150 - 150 Term Loan Encore Wire 935 907 28 905 Lease liabilities 279 264 15 291 Interest rate swaps 3 21 (18) 18 Other financial liabilities 17 4 13 3 Total long -term financial liabilities 5,198 4,633 565 5,002

Short -term financial liabilities CDP Loans 2 78 (76) 2 EIB Loans 7 5 2 6 Current interest on perpetual hybrid bond 45 6 39 20 €850m bond 15 16 (1) 1 €650m bond 13 14 (1) 1 Sustainability -Linked Term Loan 2022 15 18 (3) 16 Term Loan Encore Wire 21 24 (3) 23 Lease liabilities 123 88 35 108 Forex derivatives on financial transactions 1 10 (9) 1 Other financial liabilities 50 401 (351) 47 Financial liabilities related to assets held for sale - 31 (31) 3 Total short -term financial liabilities 292 691 (399) 228

Total financial liabilities 5,490 5,324 166 5,230

Long -term financial receivables 7 7 - 7 Long -term bank fees 3 4 (1) 4 Financial assets at amortized cost 4 4 - 4 Non -current interest rate swaps 4 2 2 2 Current interest rate swaps - 1 (1) 1 Current forex derivatives on financial transactions 1 5 (4) 3 Short -term financial receivables 57 14 43 21 Short -term bank fees 3 3 - 3 Financial assets at FVPL 75 44 31 48 Financial assets at FVOCI 11 11 - 11 Financial assets held for sale - - - 4 Cash and cash equivalents 1,246 535 711 2,025 Total financial assets 1,411 630 781 2,133 Net financial debt 4,079 4,694 (615) 3,097

Net financial debt of € 4,079 million as of June 30, 2026 was down € 615 million from €4, 694 million as of June 30, 2025. The main drivers of the change in net financial debt are discussed in the next section on the “Statement of cash flows”.

PRYSMIAN | DIRECTORS' REPORT

29

STATEMENT OF CASH FLOWS

(€m)

H1 2026 H1 2025 (*) Change 12 months

ended June

30, 2026 FY 2025

EBITDA 1,276 1,134 142 2,830 2,688

Changes in provisions (including employee benefit obligations) and other movements 15 (16) 31 (20) (51) Net gains realized on disposal of fixed assets and e quity investments - (29) 29 (361) (390) Other non -operating non -cash income (25) - (25) (25) -

Share of net profit/(loss) of equity -

accounted companies (3) (13) 10 (9) (19) Net cash flow from operating activities (before changes in net working capital) 1,263 1,076 187 2,415 2,228 Changes in net working capital (1,066) (661) (405) (210) 195 Taxes paid (210) (161) (49) (318) (269) Dividends from equity -accounted companies 3 6 (3) 8 11 Net cash flow from operating activities (10) 260 (270) 1,895 2,165 Cash from/(used for) acquisitions and/or divestments (137) (878) 741 (328) (1,069) Cash from no n-ordinary asset disposals - - - 109 109 Net cash used in investment in operating assets (303) (365) 62 (703) (765) Net cash from investments - 95 (95) 471 566 Unlevered free cash flow (450) (888) 438 1,444 1,006 Net finance costs (78) (95) 17 (216) (233) Levered free cash flow (528) (983) 455 1,228 773 Dividends paid (262) (233) (29) (268) (239) Issuance of perpetual hybrid bond - 989 (989) - 989 Interest on perpetual hybrid bond - - - (13) (13) Share buyback and other equity movements - (49) 49 2 (47) Net increase/(decrease) in cash in the period (790) (276) (514) 949 1,463 Net financial debt at beginning of period (3,097) (4,296) 1,199 (4,694) (4,296) Net increase/(decrease) in cash in the period (790) (276) (514) 949 1,463 Increase in net financial debt due to IFRS 16 (107) (103) (4) (259) (255) Interest on 2025 perpetual hybrid bond (25) (6) (19) (39) (20) Net financial debt arising from acquisitions and/or divestments (17) (12) (5) (17) (12) Other changes (43) (1) (42) (19) 23 Net financial debt at end of period (4,079) (4,694) 615 (4,079) (3,097) (*) Comparative amounts as of June 30, 2025 have been modified compared with the figures originally published, reflecting some reclassifications.

Net financial debt amounted to € 4,079 million as of June 30, 2026, down € 615 million from the corresponding figure of €4, 694 million reported as of June 31, 2025. The reduction was mainly driven by net free operating cash flow of €978 million, generated in the last twelve months ended June 30, 2026, cash in flow of €109 million from non -ordinary disposals of fixed assets, as well as €471 million mainly related to the cash in flow from the sale of the stake in YOFC offset by the cash out flow of € 328 million for acquisitions , €268 million in dividends paid and €52 million in interest expense on the hybrid bond .

Net free operating cash flow was generated by:

PRYSMIAN | DIRECTORS' REPORT

30 a) €2,0 99 million in net cash from operating activities before changes in net working capital;

b) €210 million in cash used for changes in net working capital;

c) €703 million in cash used for net capital expenditure;

d) €216 million in net finance costs payments;

e) €8 million in dividends received from associates.

PRYSMIAN | DIRECTORS' REPORT

31

ALTERNATIVE PERFORMANCE MEASURES

In addition to the standard financial reporting formats and in dicators required by IFRS, this document contains a number of reclassified statements and alternative performance measures to enable a better appreciation of Prysmian's business performance. These reclassified statements and alternative performance measure s should not, however , be treated as substitutes for the accepted ones required by IFRS.

In this regard, on December 3, 2015, Consob adopted the ESMA guidelines in Italy with publication of "ESMA Guidelines/2015/1415". These have superseded "CESR Recommendation 2005 (CESR/05 -

178b)". The alternative performance measures have therefore been revised in light of these guidelines.

The alternative performance measures used in reviewing the income statement are described

below :

• EBITDA : operating income before changes in the fair value of commodities derivatives and in other fair value items and before amortization, depreciation and impairment. The purpose of this measure is to present Prysmian's operating profitability before the main non -monetary items;

• Adjusted EBITDA : EBITDA as defined above, calculated before income and expenses for business reorganization2, before non -recurring items3, as presented in the consolidated income statement, and before other non -operating income and expenses4. The purpose of this measure is to present Prysmian's operating profitability before the main non -

monetary items, without the effects of events considered to be outside its recurring

operations;

• Organic growth : growth in revenues calculated net of changes in the scope of consolidation, changes in metal prices and exchange rate effects ;

2 Income and expense for business reorganization: th is refer s to income and expense that arise as a result of the closure of production facilities and/or as a result of projects designed to optimise the organisational structure;

3 Non -recurring income and expense: th is refer s to income and expense related to unusual events that have not affected profit or loss in past periods and are not likely to affect the results in future periods;

4 Other non -operating income and expense: th is refer s to income and expense that management considers should not be taken into account when measuring business performance.

PRYSMIAN | DIRECTORS' REPORT

32 • Revenues determined at standard metal prices : revenues have been determined by taking standard metal prices into account. Standard metal prices are defined as follows:

standard copper price of €5,500 per ton; standard aluminum price of €1,500 per ton;

standard lead price of €2,000 per ton. Standard metal prices are kept at a constant value over a number of periods to improve the comparability of sales and Adjusted EBITDA margin over time. In this way, fluctuations in metal prices are neutralized over time f rom a reporting perspective.

The alternative measures used in reviewing the reclassified statement of financial position

include:

• Net fixed assets: the sum of the following items contained in the statement of financial

position:

- Intangible assets

- Property, plant and equipment

- Equity -accounted investments

- Other investments at fair value through other comprehensive income

- Assets held for sale (excluding financial assets and financial liabilities held for sale)

• Net working capital: the sum of the following items contained in the statement of

financial position:

- Inventories

- Trade receivables

- Trade payables

- Other non -current receivables and payables, net of long -term financial receivables classified in net financial debt

- Other current receivables and payables, net of short -term financial receivables classified in net financial debt

- Contract assets and liabilities

- Derivatives, net of interest rate and forex hedges of financial transactions classified in net financial debt

- Direct tax assets and liabilities

- Current assets and liabilities held for sale included in net working capital

• Net operating working capital : net working capital, as defined above, net of derivatives not classified in net financial debt and direct tax assets/liabilities.

PRYSMIAN | DIRECTORS' REPORT

33 • Provisions and net deferred tax assets or liabilities: the sum of the following items contained in the statement of financial position:

- Provisions for risks and charges – current portion

- Provisions for risks and charges – non -current portion

- Provisions for deferred tax liabilities

- Deferred tax assets

• Net invested capital: the sum of net fixed assets, net working capital and provisions.

• Employee benefit obligations and Total equity: these indicators correspond to employee benefit obligations and total equity reported in the statement of financial position.

• Net financial debt: the sum of the following items:

- Bank and other borrowings – non -current portion;

- Bank and other borrowings – current portion;

- Derivatives on financial transactions recognized as non -current derivatives and classified under long -term financial receivables;

- Derivatives on financial transactions recognized as current derivatives and classified under short -term financial receivables;

- Derivatives on financial transactions recognized as non -current derivatives and classified under long -term financial liabilities;

- Derivatives on financial transactions recognized as current derivatives and classified under short -term financial liabilities;

- Medium/long -term financial receivables recorded in other non -current receivables;

- Loan arrangement fees recorded in other non -current receivables;

- Short -term financial receivables recorded in other current receivables;

- Short -term financial payables recorded in other current payables;

- Loan arrangement fees recorded in other current receivables;

- Financial assets at amortized cost;

- Financial assets at fair value through profit or loss;

- Financial assets at fair value through other comprehensive income;

- Cash and cash equivalents;

- Financial assets and liabilities held for sale .

• Levered free cash flow: the sum of the following items:

- EBITDA;

PRYSMIAN | DIRECTORS' REPORT

34

- change in provisions (including those for employee benefit obligations);

- net gains on disposal of fixed assets;

- share of net profit/(loss) of equity -accounted companies;

- changes in net working capital;

- taxes paid;

- dividends received from equity -accounted companies;

- cash from acquisitions and/or divestments;

- net cash used for investment in operating assets;

- net finance costs.

• Levered free cash flow excluding acquisitions and/or divestments and antitrust -

related payments/receipts: this is determined by stripping out any acquisitions and/or divestments and/or net cash flow from equity -accounted companies and any antitrust -

related payments/receipts occurring during the period from levered free cash flow.

PRYSMIAN | DIRECTORS' REPORT

35 Reconciliation of the Reclassified Statement of Financial Position presented in the Directors' Report and the Statement of Financial Position included in the Condensed Consolidated Half -Year Financial Statements as of June 30, 2026.

(€m)

June 30, 2026 December 31,

2025 (*)

Note As per

financial

statements As per

financial

statements

Total net fixed assets A 11,017 10,591 Inventories 4 3,639 3,066 Trade receivables 3 3,486 2,428 Trade payables 12 (3,595) (2,798) Other receivables 3 707 614 Contract assets 3 901 567 Direct tax assets 9 129 121 Other payables 12 (1,334) (1,081) Contract liabilities 12 (2,130) (2,325) Direct tax liabilities 9 (260) (261) Derivatives 5 295 236 Items not included in net working capital :

Financial receivables 64 28 Prepaid finance costs 6 7 Interest rate derivatives 1 (15) Forex derivatives on financial transactions - 2 Other short term financial payables (7) -

Total net working capital B 1,774 545 Provisions for risks and charges 13 (790) (752) Deferred tax assets 384 370 Deferred tax liabilities (722) (698) Total provisions C (1,128) (1,080) Net invested capital D=A+B+C 11,663 10,056 Employee benefit obligations E 14 271 279 Total equity F 7,313 6,680 Bank and other borrowings 11 5,479 5,208 Financial assets at amortized cost (4) (4) Financial assets at fair value through profit or loss 6 (75) (48) Financial assets at fair value through other comprehensive income 6 (11) (11) Financial assets held for sale - (4) Financial liabilities held for sale - 3 Cash and cash equivalents 7 (1,246) (2,025) Financial receivables (64) (28) Prepaid finance costs (6) (7) Interest rate derivatives (1) 15 Forex derivatives on financial transactions - (2) Other short term financial payables 7 Net financial debt G 4,079 3,097 Total equity and sources of funds H=E+F+G 11,663 10,056 (*) C omparative data as of December 31, 2025 have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell .

PRYSMIAN | DIRECTORS' REPORT

36 Reconciliation of key performance indicators and the Income Statement included in the Condensed Consolidated Half -Year Financial Statements as of June 30, 2026.

(€m)

H1 2026 H1 2025

Revenues 11,239 9,654 Change due to metal prices (2,253) (1,439 ) Revenues at standard metal prices 8,986 8,215

(€m)

H1 2026 H1 2025 (*)

As per income statement As per income

statement

Net profit 584 435 Taxes 205 161 Profit before taxes 789 596 Finance income (264) (558) Finance costs 381 703 Operating income 906 741 Amortization, depreciation, impairments and impairment reversals 368 297 Change in fair value of commodity derivatives (32) 56 Fair value share -based payments 34 40

EBITDA 1,276 1,134

Non -recurring expenses/(income) 11 2 Business reorganization 40 8 Other non -operating expenses/(income) 4 (12)

Adj. EBITDA 1,331 1,132

(*) C omparative data as of June 30, 2025 have been adjusted from those previously published following completion of the Purchase Price Allocation (PPA) of Channell .

(€m)

H1 2026 H1 2025

As per income statement As per income

statement

Revenues A 11,239 9,654 Change in inventories of finished goods and work in progress 315 229 Other income 86 71 Raw materials, consumables and supplies (7,553) (6,249) Personnel costs (1,183) (1,087) Other expenses (1,665) (1,537) Operating costs B (10,000) (8,573)

Share of net profit/(loss) of equity -accounted companies C 3 13 Fair value share -based payments D 34 40

EBITDA E=A+B+C+D 1,276 1,134

Other non -recurring expenses and revenues F (11) (2) Business reorganization G (40) (8) Other non -operating expenses H (4) 12 Total adjustments to EBITDA I = F+G+H (55) 2

Adj. EBITDA L = E -I 1,331 1,132

PRYSMIAN | DIRECTORS' REPORT

37

BUSINESS OUTLOOK

Prysmian upgrades the 2026 guidance based on its strong track record of delivery across all business segments, to become:

o Adjusted EBITDA in the range of €2,800 million to €2,900 million previously €2,625 million to €2,775 million o Free Cash Flow in the range of €1,650 million to €1,750 million previously €1,300 million to €1,400 million o Sustainability -linked Revenues expected in the range of 47% to 49% of total Group

Revenues

This guidance assumes no escalation in the current geopolitical situation and excludes extreme dynamics in the prices of production factors and significant supply chain disruptions. Forecasts are based on the Company’s business perimeter (also including the acquisition of Xtera), the current EUR/USD exchange rate for the assumption of the second half of year, and do not include impacts on cash flows related to antitrust issues.

In addition, Prysmian confirms that it is well -positioned to accelerate beyond its 2028 targets and will hold a Capital Markets Day within the first half of 2027 to update the market on its strategy and medium -term targets.

PRYSMIAN | DIRECTORS' REPORT

38

FORESEEABLE RISKS FOR 2026

In the normal conduct of its business, Prysmian is exposed to a number of financial and non -

financial risks which, if they should occur, could also have a material impact on its results of operations and financial condition.

Prysmian has always acted to maximize shareholder value, taking all the necessary measures to prevent or mitigate the risks inherent in its business. This is why it adopts specific procedures to manage the risks that could influence its results.

Given the Group’s operating performance in the first six months of the year and the specific macroeconomic context, these risks do not appear to differ from those described in the Integrated Annual Report 2025 to which, therefore, reference should be made.

With specific reference to the further developments in the macroeconomic and geopolitical environment during the first months of 2026, and in particular to Iran’s involvement in the Middle East conflict and the resulting supply chain tensions, no significa nt impacts were identified on the key estimates and assumptions used in the preparation of the financial information compared with those already reflected in the consolidated financial statements as of 31 December 2025.

No indicators of impairment of non -financial assets emerged, nor were any significant effects recorded in terms of expected credit losses or inventory write -downs.

The Group’s operating performance in the first months of 2026 has been better than expected, allowing management to revise upward its guidance for 2026, based on the solid results achieved across all business segments.

The tariff measures introduced by the U.S. Administration during 2025, together with subsequent developments in 2026, have not had a material impact on the Group's operating performance to date and have not resulted in any significant effects on the measur ement or presentation of these financial statements. The Group continues to monitor tariff developments and their potential implications for its operations, supply chain and end markets, and will take appropriate mitigating actions as necessary.

PRYSMIAN | DIRECTORS' REPORT

39

RELATED PARTY TRANSACTIONS

Related party transactions are neither atypical nor unusual as they are part of the normal business activities of Prysmian companies. These transactions are conducted on an arm's length basis, taking into account the characteristics of the goods and servic es provided.

Information about related party transactions, including the disclosures required by the CONSOB Communication dated July 28, 2006, is presented in Note 21 in the Explanatory Notes.

Milan, July 29, 2026

ON BEHALF OF THE BOARD OF DIRECTORS

THE CHAIR

Francesco Gori

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

40 Condensed Consolidated Half -

year Financial Statements

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

41

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(€m)

Note June 30, 2026 of which

related

parties December 31, 2025 * of which

related

parties

Non -current assets Property, plant and equipment 1 5,503 5,279 Goodwill 1 3,864 3,645 Other intangible assets 1 1,601 1,610 Equity -accounted investments 2 43 43 43 43 Other investments at fair value through other comprehensive income 5 5 Financial assets at amorti zed cost 4 4 Derivatives 5 105 120 Deferred tax assets 384 370 Non -current direct tax assets 9 8 8 Other receivables 3 42 40 Total non -current assets 11,559 11,124

Current assets

Inventories 4 3,639 3,066 Trade receivables 3 3,486 2,428 Contract assets 3 901 567 Other receivables 3 665 574 Financial assets at fair value through profit or loss 6 75 48 Derivatives 5 264 216 Financial assets at fair value through other comprehensive income 6 11 11 Current direct tax assets 9 121 113 Cash and cash equivalents 7 1,246 2,025 Total current assets 10,408 9,048 Assets held for sale 8 1 16 Total assets 21,968 20,188

Equity

Share capital 10 30 30 Reserves 10 6,494 5,174 Net profit/(loss) attributable to owners of the parent 10 569 1,270 Equity attributable to owners of the parent 7,093 6,474 Equity attributable to non -controlling interests 220 206 Total equity 7,313 6,680 Non -current liabilities Bank and other borrowings 11 5,195 4,984 Employee benefit obligations 14 271 279 Provisions for risks and charges 13 43 62 Deferred tax liabilities 722 698 Derivatives 5 23 28 Non -current direct tax liabilities 9 30 32 Other payables 12 18 39 Total non -current liabilities 6,302 6,122

Current liabilities

Bank and other borrowings 11 284 224 Provisions for risks and charges 13 747 8 690 8 Derivatives 5 51 72 Trade payables 12 3,595 8 2,798 5 Contract liabilities 12 2,130 2,325 Other payables 12 1,316 1 1,042 2 Current direct tax liabilities 9 230 229 Total current liabilities 8,353 7,380 Liabilities held for sale - 6 Total liabilities 14,655 13,508 Total equity and liabilities 21,968 20,188 (*) The consolidated statement of financial position as of December 31, 2025, presented in the current Condensed Consolidate d Half -year Report for comparative purposes, ha s been restated with respect to the previously published figures, as described in more detail in section “C. RESTATEMENT OF COMPARATIVE FIGURES”.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

42

CONSOLIDATED INCOME STATEMENT

(€m)

Note H1 202 6 of which

related

parties H1 202 5* of which

related

parties

Revenues 11,239 - 9,654 2 Change in inventories of finished goods and work in progress 315 229 Other income 86 71 Total revenue s and income 11,640 9,954 Raw materials, consumables and supplies (7,553) (6,249) Change in fair value of commodity derivatives 32 (56) Personnel costs (1,183) (7) (1,087 ) (8) Amortisation, depreciation, impairment and impairment reversals (368) (297) Other expenses (1,665) (3) (1,537) (3) Share of net profit/(loss) of equity -accounted companies 3 3 13 13 Operating income 906 741 Finance costs 15 (381) (703) Finance income 15 264 558 Profit before taxes 789 596 Taxes 16 (205) (161) Net profit 584 435

Of which:

Attributable to non -controlling interests 15 11 Net profit attributable to owners of the parent 569 424

Basic earnings/(loss) per share ( €) 17 1.86 1.46 Diluted earnings/(loss) per share ( €) 17 1.86 1.46 (*) The consolidate d income statement for the six months ended June 30, 2025, presented in the current Condensed Consolidate d Half -year Report for comparative purposes, ha s been restated with respect to the previously published figures, as described in more detail in section “C. RESTATEMENT OF COMPARATIVE FIGURES”.

CONSOLIDATED STATEMENT OF COMPREHENSIVE

INCOME

(€m)

Note H1 2026 H1 2025(**) Net profit 584 435 Other comprehensive income:

A) Change in cash flow hedge reserve: 10 23 (65)

- Profit/(loss) for the period 28 (87)

- Taxes (5) 22 B) Other changes relating to cash flow hedges: 10 1 9

- Profit/(loss) for the period 1 12

- Taxes - (3) C) Change in currency translation reserve : 10 270 (810) D) Actuarial gains/(losses) on employee benefits (*): 5 2

- Profit/(loss) for the period 7 3

- Taxes (2) (1) E) Measurement of FVTOCI instruments : - 2

- Profit/(loss) for the period - 2

- Taxes - -

Total other comprehensive income (A+B+C+D+E): 299 (862) Total comprehensive income 883 (427)

Of which:

Attributable to non -controlling interests 18 (11) Comprehensive income attributable to owners of the parent 865 (416) (*) Components of comprehensive income that will not be reclassified to profit or loss in subsequent periods.

(**) The consolidate d statement of comprehensive income for the six months ended June 30, 2025, presented in the current Condensed Consolidate d Half -year Report for comparative purposes, h as been restated with respect to the previously published figures, as described in more detail in section “C. RESTATEMENT OF COMPARATIVE FIGURES”.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

43

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY ( Note

10)

(€m)

Share

capital Cash flow

hedge

reserve Currency

translation

reserve Other

reserves Net profit

attributable to

owners of the

parent Equity

attributable to

owners of the

parent Equity

attributable to

non-

controlling

interests Total

Balance as of December 31, 2024 30 92 (135) 4,371 729 5,087 210 5,297 Allocation of prior year net result - - - 729 (729) - - -

Fair value share -

based payment - - - 40 - 40 - 40 Dividend s paid - - - (229) - (229) (10) (239) Share buyback - - - (49) - (49) - (49)

Perpetual hybrid

bond - - - 983 - 983 - 983

Effect of

hyperinflation - - - 3 - 3 1 4

Investments at

FVTOCI - - - 2 - 2 - 2

Total compre -

hensive income - (67) (786) 11 424 (418) (11) (429) Balance as of June 30, 2025 * 30 25 (921) 5,861 424 5,419 190 5,609 (**) The consolidated statement of changes in equity for the six months ended June 30, 2025, presented in the current Condensed Consolidate d Half -year Report for comparative purposes, ha s been restated with respect to the previously published figures, as described in more detail in section “C. RESTATEMENT OF COMPARATIVE FIGURES”.

(€m)

Share

capital Cash flow

hedge

reserve Currency

translation

reserve Other

reserves Net profit

attributable to

owners of the

parent Equity

attributable to

owners of the

parent Equity

attributable to

non-

controlling

interests Total

Balance as of December 31, 2025 30 226 (931) 5,879 1,270 6,474 206 6,680 Allocation of prior year net result - - - 1,270 (1,270 ) - - -

Fair value share -

based payment - - - 34 - 34 - 34 Dividend s paid - - - (258) - (258) (10) (268)

Perpetual hybrid

bond - - - (25) - (25) - (25)

Effect of

hyperinflation - - - 3 - 3 1 4 Change in scope of consolidation - - - - - - 5 5 Total compre -

hensive income - 26 264 6 569 865 18 883 Balance as of June 30, 202 6 30 252 (667) 6,909 569 7,093 220 7,313

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

44

CONSOLIDATED STATEMENT OF CASH FLOWS ( Note 2 5)

(€m)

H1 2026 of which

related

parties H1 2025 (*) of which

related

parties

Profit before taxes 789 596 Amorti zation, depreciation and impairment 368 297 Net gains realized on disposal of equity accounted companies - (29) Share of net profit/(loss) of equity -accounted companies (3) (3) (13) (13) Dividends received from equity -accounted companies 3 3 6 6 Share -based payments 34 3 40 4 Change in fair value of commodity derivatives (32) 56 Net finance costs 117 145 Changes in inventories (500) (356) Changes in trade receivables/payables (219) 3 (140) 2 Changes in other receivables/payables and contracts assets/liabilities (347) (1) (165) (6) Change in employee benefit obligations (7) (11) Change in provisions for risks 22 (5) 3 Other non -operating and non -cash income (25) -

Net income taxes paid (210) (161) A. Cash flow from operating activities (10) 260 Cash flow from acquisitions and/or divestments (123) (760) Investments in property, plant and equipment (289) (359) Disposals of property, plant and equipment - 4 Investments in intangible assets (15) (11) Investments in financial assets at fair value through profit or loss (22) (12) Investments in financial assets at amorti zed cost - 2 Disposal of assets and liabilities held for sale 1 -

Divestment of associated companies - 95 B. Cash flow from investing activities (448) (1,041) Perpetual hybrid bond - 989 Share buyback and other movements in equity - (49) Dividend s paid (262) (233) Proceeds from new borrowings 175 -

Repayments of borrowings - (467) Change in other net financial receivables/payables (171) 185 Finance costs paid (120) (151) Finance income received 42 56 C. Cash flow from financing activities (336) 330 D. Effect of net currency translation differences on cash and cash equivalents 15 (47) E. Net cash flow for the period (A+B+C+D) (779) (498) F. Cash and cash equivalents at beginning of period 2,025 1,033 G. Cash and cash equivalents at end of period (E+F) 1,246 535

(*) The consolidated statement of cash flows for the six months ended June 30, 2025, presented in the current Condensed Consolidate d Half -year Report for comparative purposes, ha s been restated with respect to the previously published figures, as described in more detail in section “C. RESTATEMENT OF COMPARATIVE FIGURES”.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

45

EXPLANATORY NOTES

A. GENERAL INFORMATION

Prysmian SpA ("the Company") is a company incorporated and domiciled in Italy and organi zed under the laws of the Italian Republic. The Company has its registered office in Via Chiese 6, Milan (Italy).

Prysmian SpA was listed on the Italian Stock Exchange on May 3, 2007 and since September 2007 has been included in the FTSE MIB index, which comprises the top 40 Italian companies by market capitali zation and stock liquidity. Since October 18, 2021, the stock has been included in the MIB® ESG, the first "Environmental, Social and Governance" index for Italian blue chips, featuring the most important listed issuers t o have adopted ESG best practices.

The Company and its subsidiaries (together , "the Group" or "Prysmian") produce power and telecom cables and systems and related accessories and distribute and sell them around the globe.

The Half -year Financial Report was approved by the Board of Directors of Prysmian S.p.A. on July 29, 2026 and the Condensed Consolidated Half -year Financial Statements have undergone a limited review by the independent auditor.

Please note that comparative amounts as of December 31, 2025 were the subject of a full audit.

A.1 SIGNIFICANT EVENTS IN THE FIRST HALF OF 202 6

Significant events in the period are reviewed in the Directors' Report in the section "SIGNIFICANT EVENTS DURING THE PERIOD".

B. BASIS OF PRESENTATION

The Condensed Consolidated Half -year Financial Statement s included in the Half -year Financial Report have been prepared on a going concern basis, since the Directors have assessed that there are no financial, operating or other kind of indicators that might provide evidence of Prysmian's inability to meet its obligations in the foreseeable future and par ticularly in the next 12 months.

The information contained in these Explanatory Notes should be read in conjunction with the Directors' Report, an integral part of the Half -year Financial Report , and with the Consolidated Financial Statements as of and for the year ended December 31, 2025, prepared in accordance with the International Financial Reporting Standards ( IFRS ) issued by the International Accounting Standards Board and adopted by the European Union .

All the amounts shown in Prysmian's financial statements are expressed in millions of euros, unless otherwise stated.

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

46

B.1 FINANCIAL STATEMENTS AND DISCLOSURES

Prysmian has elected to present its income statement according to the nature of expenses, whereas assets and liabilities in the statement of financial position are classified as current or non -

current. The statement of cash flows has been prepared using the indirect method.

Prysmian has prepared the Condensed Consolidated Half -year Financial Statement s as of and for the six months ended June 30, 2026 in accordance with art. 154 -ter of Legislative Decree 58/1998 and the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB) and endorsed by the European Union, and in compliance with IAS 34 – Inte rim Financial Reporting . The same accounting standards and policies used in preparation of the Consolidated Financial Statements as of and for the year ended December 31, 2025 have been applied as of and for the period ended June 30, 2026 .

In preparing the Condensed Consolidated Half -year Financial Statement s, management made judgements, estimates and assumptions that affect the value of revenues, costs, assets and liabilities at the reporting date. These estimates may differ from the actual results or events in the future. In line with the methods used to prepare the Consolidated Financial Statements as of and for the year ended December 31, 2025 estimation processes have taken into account, where material, the effects of the macroeconomic scenario and climate risks. Certain valuation processes, particularly m ore complex ones, such as the determination of any fixed asset impairment, are only conducted fully at the time of preparation of the annual consolidated financial statements when all the necessary information is available. It should be noted that, during the first six months of 2026, no impairment indicators were identified, considering both external and internal sources of information. The market capitalization as of June 30, 2026 amounted to more than €43 billion and was therefore significantly higher th an the carrying amount of shareholders’ equity.

B.2 ACCOUNTING S TANDARDS

Accounting standards used in the prepar ation of the Condensed Consolidated Half -year

Financial Statements

The basis of consolidation, the methods used to translate financial statements into the presentation currency, the accounting standards , estimates and policies adopted are the same as those used for the Consolidated Financial Statements as of and for the year ended D ecember 31, 2025, to which reference should be made for more details . Income taxes are an exception, as they are recognized using the best estimate of Prysmian’s expected full -year weighted average tax rate.

As in the Consolidated Financial Statements for 2025, the Indian company Ravin Cables Limited is not under Prysmian's control for the reasons described in more detail below.

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

47 Ravin Cables Limited In January 2010, Prysmian acquired a 51% interest in the Indian company , Ravin Cables Limited ("Ravin"), with the remaining 49% held by other shareholders directly or indirectly associated with the Karia family (the "Local Shareholders"). Under the agreements signed with the Local Shareholders, after a limited transition perio d, management of Ravin would be transferred to a Chief Executive Officer appointed by Prysmian. However, this did not happen and, in breach of the agreements, Ravin's management remained in the hands of the Local Shareholders and their representatives. Con sequently, having lost control, Prysmian ceased to consolidate Ravin and its subsidiary , Power Plus Cable Co. LLC. , with effect from April 1, 2012. In February 2012, Prysmian was forced to initiate arbitration proceedings before the London Court of International Arbitration (LCIA), requesting that the Local Shareholders be declared in breach of contract and ordered to sell the shares representing 49% of Ravin's share capital to Pr ysmian. In a ruling handed down in April 2017, the LCIA upheld Prysmian’s clai ms and ordered the Local Shareholders to sell the shares representing 49% of Ravin’s share capital to Prysmian. However, the Local Shareholders did not voluntarily enforce the arbitration award and so Prysmian had to initiate proceedings in the Indian cour ts to have the arbitration award recognized in India. Having gone through two levels of the court system, the proceedings were finally concluded on February 13, 2020 with the pronouncement of a ruling by the Indian Supreme Court , under which the latter finally declared the arbitration award enforceable in India. In view of the continuing failure of the Local Shareholders to comply voluntarily, Prysmian has requested the Mumbai court to enforce the arbitration award so as to purchase the shares representing 49% of Ravin's share capital as soon as possible. In February 2025, the Mumbai Court issued a judgment by which, upholding Prysmian’s claims, it ordered enforcement of the sale to Prysmian of the shares representing 49% of Ravin’s share capital and the app ointment of Prysmian’s representatives to Ravin’s Board of Directors. However, as of today, neither of these two events has yet taken place, and therefore, in substance, the situation remains unchanged . As a result, control of the company is deemed to have not yet been acquired.

Accounting standards, amendments and interpretations applied from January 1, 2026 The following is a list of new standards, interpretations and amendments whose application became mandatory from January 1, 2026 but which have not been found to have had a material impact on the Condensed Consolidated Half -year Financial Statements as of June 30, 2026:

- Contracts Referencing Nature -dependent Electricity – Amendments to IFRS 9 and

IFRS 7

- Amendments to the Classification and Measurement of Financial Instruments – Amendments to IFRS 9 and IFRS 7

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

48 Accounting standards, amendments and interpretations not yet applicable and not adopted early by the Group The following new accounting standards, amendments and interpretations had been issued at the date of prepar ation of this report but are not yet applicable and have not been adopted early by the Group:

New Standards, Amendments and Interpretations Mandatory application

from

IFRS 18 – Presentation and Disclosure in Financial Statements January 1, 2027

Prysmian is currently evaluating the impact of adopting the new IFRS 18 accounting standard.

B.3 CHANGES IN THE SCOPE OF CONSOLIDATION

Prysmian's scope of consolidation includes the financial statements of Prysmian SpA (the Parent Company) and the companies over which it exercises direct or indirect control, which are consolidated from the date on which control is obtained until the date on which such control ceases.

The changes in the scope of consolidation as of June 30, 2026, with respect to December 31, 2025, are reported below.

Liquidations

Liquidated companies Country Date Presto lite de México S.A. de C.V. Mexico February 2, 2026

Acquisitions

Acquired companies Country Date ACSM Shipping CO, Sociedad Limitada Spain February 10, 2026 Alesea Srl Italy February 12, 2026

Name changes

Previous name New name Country Date Cables Electricos Ecuatorianos C.A.

Cables Cables Electricos Ecuatorianos Cablec S.A.S. Ecuador June 22, 2026 Appendix A to these notes contains a list of the companies included in the scope of consolidation as of June 30, 2026.

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

49

C. RESTATEMENT OF COMPARATIVE FIGURES

The consolidated statemen t of financial position as of December 31, 2025 and the consolidated income statement for the six month ended June 30, 2025, forming part of the Consolidated Financial Statements presented in the current Condensed Half-year Report for comparative purposes, ha ve been restated with respect to the originall y published figures following completion of the process of accounting for the Channell Group business combination.

After acquiring control of Channell on June 10, 2025, the fair values of the assets acquired, liabilities assumed and contingent liabilities as of December 31, 2025 were determined on a provisional basis, in accordance with IFRS 3 – Business Combinations, given that the related measurement procedures were still in progress. The above measurements, subject to review within twelve months of the acquisition date, as permitted b y IFRS 3 – Business Combinations, have resulted in restatement of the consolidated f inancial statements as presented below.

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

50 The restated consolidated statement of financial position is presented below:

(€m)

December 31,

2025 published Channell PPA December 31,

2025 restated

Non -current assets Property, plant and equipment 5,279 5,279 Goodwill 3,647 (2) 3,645 Other intangible assets 1,610 1,610 Equity -accounted investments 43 43 Other investments at fair value through other comprehensive income 5 5 Financial assets at amortized cost 4 4 Derivatives 120 120 Deferred tax assets 370 370 Other receivables 40 40 Non -current direct tax assets 8 8 Total non -current assets 11,126 (2) 11,124

Current assets

Inventories 3,066 3,066 Trade receivables 2,428 2,428 Contract assets 567 567 Other receivables 574 574 Financial assets at fair value through profit or loss 48 48 Derivatives 216 216 Financial assets at fair value through other comprehensive income 11 11 Current direct tax assets 113 113 Cash and cash equivalents 2,025 2,025 Total current assets 9,048 9,048 Assets held for sale 16 16 Total assets 20,190 (2) 20,188

Equity

Share capital 30 30 Reserves 5,174 5,174 Net profit/(loss) attributable to owners of the parent 1,270 1,270 Equity attributable to owners of the parent 6,474 6,474 Equity attributable to non -controlling interests 206 206 Total equity 6,680 6,680 Non -current liabilities Bank and other borrowings 4,984 4,984 Employee benefit obligations 279 279 Provisions for risks and charges 62 62 Deferred tax liabilities 700 (2) 698 Derivatives 28 28 Other payables 39 39 Non -current direct tax liabilities 32 32 Total non -current liabilities 6,124 (2) 6,122

Current liabilities

Bank and other borrowings 224 224 Provisions for risks and charges 690 690 Derivatives 72 72 Trade payables 2,798 2,798 Contract liabilities 2,325 2,325 Other payables 1,042 1,042 Current direct tax liabilities 229 229 Total current liabilities 7,380 7,380 Liabilities held for sale 6 6 Total liabilities 13,510 (2) 13,508 Total equity and liabilities 20,190 (2) 20,188

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

51 The restated consolidated income statement is presented below:

(€m)

H1 2025

published Channell

PPA H1

2025

restated

Revenues 9,654 9,654 Change in inventories of finished goods and work in progress 229 229 Other income 71 71 Total revenues and income 9,954 - 9,954 Raw materials, consumables and supplies (6,249) (6,249) Change in fair value of commodity derivatives (56) (56) Personnel costs (1,087) (1,087) Amortisation, depreciation, impairment a nd impairment reversals (295) (2) (297) Other expenses (1,537) (1,537) Share o f net profit/(loss) of equity -accounted companies 13 13 Operating income 743 (2) 741 Finance costs (703) (703) Finance income 558 558 Profit before taxes 598 (2) 596 Taxes (161) (161) Net prof it 437 (2) 435

Of which:

Attributable to non -controlling interests 11 11 Net profit attributable to o wners of the parent 426 (2) 424 Basic earnings/(loss) per share ( €) 1.47 1.46 Diluted earnings/(loss) per share ( €) 1.47 1.46

The restated consolidated statement of comprehensive income is presented below:

H1 2025

published Channell

PPA H1 2025

restated

Net profit 437 (2) 435 Other comprehensive income:

A) Change in cash flow hedge reserve: (65) (65)

- Profit/(loss) for the period (87) (87)

- Taxes 22 22 B) Other changes relating to cash flow hedges: 9 9

- Profit/(loss) for the period 12 12

- Taxes (3) (3) C) Change in currency translation reserve: (810) (810) D) Actuarial gains/(losses) on employee benefits: 2 2

- Profit/(loss) for the period 3 3

- Taxes (1) (1) E) Measurement of FVTOCI instruments: 2 2

- Profit/(loss) for the period 2 2

- Taxes - -

Total other comprehensive income (A+B+C+D+E): (862) (862) Total comprehensive income (425) (2) (427)

Of which:

Attributable to non -controlling interests (11) (11) Comprehensive income attributable to owners of the parent (414) (2) (416)

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

52 The consolidated statement of changes in equity is presented below:

(€m)

Share

capital Cash flow

hedge

reserve Currency

translation

reserve Other

reserves Net profit

attributabl

e to

owners of

the parent Equity

attributable

to owners of the parent Equity

attributable

to non -

controlling

interests Total

Balance as of December 31, 2024 30 92 (135) 4,371 729 5,087 210 5,297 Allocation of prior year

net result

- - - 729 (729) - - -

Fair value share -based

payment

- - - 40 - 40 - 40

Dividends paid

- - - (229) - (229) (10) (239)

Share buyback

- - - (49) - (49) - (49) Perpetual hybrid bond

- - - 983 - 983 - 983 Effect of hyperinflation

- - - 3 - 3 1 4 Investments at FVTOCI

- - - 2 - 2 - 2 Total compre -hensive

income

- (67) (786) 11 426 (416) (11) (427) Balance as of June 30, 2025 published 30 25 - 921 5,861 426 5,421 190 5,611 Allocation of prior year

net result

- - - - - - - -

Fair value share -based

payment

- - - - - - - -

Dividends paid

- - - - - - - -

Share buyback

- - - - - - - -

Perpetual hybrid bond

- - - - - - - -

Effect of hyperinflation

- - - - - - - -

Investments at FVTOCI

- - - - - - - -

Total compre -hensive

income

- - - - (2) (2) - (2) Total effects of

Channell PPA

- - - -

(2) (2) - (2) Allocation of prior year

net result

- - - 729 (729) - - -

Fair value share -based

payment

- - - 40 - 40 - 40

Dividends paid

- - - (229) - (229) (10) (239)

Share buyback

- - - (49) - (49) - (49) Perpetual hybrid bond

- - - 983 - 983 - 983 Effect of hyperinflation

- - - 3 - 3 1 4 Investments at FVTOCI

- - - 2 - 2 - 2 Total compre -hensive

income

- (67) (786) 11 424 (418) (11) (429) Balance as of June 30, 2025 restated 30 25 (921) 5,861 424 5,419 190 5,609

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

53 The consolidated state ment of cash flows is presented below:

H1 2025 published Channell PPA and other effects H1 2025 restated Profit before taxes 598 (2) 596 Amortization, depreciation and impairment 295 2 297 Net gains realized on disposal of equity accounted companies (29) (29) Share of net profit/(loss) of equity -

accounted companies (13) (13) Dividends received from equity -

accounted companies 6 6 Share -based payments 40 40 Change in fair value of commodity derivatives 56 56 Net finance costs 145 145 Changes in inventories (356) (356) Changes in trade receivables/payables (114) (26) (140) Changes in other receivables/payables and contracts assets/liabilities (165) (165) Change in employee benefit obligations (11) (11) Change in provisions for risks (31) 26 (5) Other non -operating and non -cash income - -

Net income taxes paid (161) (161) A. Cash flow from operating activities 260 - 260 Cash flow from acquisitions and/or divestments (760) (760) Investments in property, plant and equipment (359) (359) Disposals of property, plant and equipment 4 4 Investments in intangible assets (11) (11) Investments in financial assets at fair value through profit or loss (12) (12) Investments in financial assets at amorti zed cost 2 2 Disposal of assets and liabilities held for sale - -

Divestment of associated companies 95 95 B. Cash flow from investing activities (1,041) (1,041) Perpetual hybrid bond 989 989 Share buyback and other movements in equity (49) (49) Dividends paid (233) (233) Proceeds from new borrowings - -

Repayments of borrowings (467) (467) Change in other net financial receivables/payables 185 185 Finance costs paid (151) (151) Finance income received 56 56 C. Cash flow from financing activities 330 330 D. Effect of net currency translation differences on cash and cash equivalents (47) (47) E. Net cash flow for the period (A+B+C+D) (498) - (498) F. Cash and cash equivalents at beginning of period 1,033 1,033 G. Cash and cash equivalents at end of period (E+F) 535 - 535

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

54

D. FINANCIAL RISK MANAGEMENT

Prysmian's activities are exposed to various types of risk: market risk (including exchange rate, interest rate and price risks), credit risk and liquidity risk.

The Half -year Financial Report does not contain all the information about the financial risks described in the Integrated Annual Report as of December 31, 2025, to which reference should be made for a more detailed description .

With reference to the risks described in the Integrated Annual Report as of December 202 5, there have been no material changes in the types of risks to which Prysmian is exposed or in its policies for managing such risks . For information on geopolitical risks, reference should be made to the Directors' Report included in this Half -Year Financial Report .

E. FAIR VALUE MEASUREMENT OF FINANCIAL INSTRUMENTS

IFRS 13 requires assets and liabilities recogni zed in the statement of financial position at fair value to be classified according to a hierarchy that reflects the significance of the inputs used in measuring fair value.

Financial instruments are classified according to the following fair value hierarchy:

Level 1 : Fair value is determined with reference to quoted prices (unadjusted) in active markets for identical financial instruments. Therefore, the emphasis within Level 1 is on determining both of the following:

a. the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability; and b. whether the entity can enter into a transaction for the asset or liability at the price in that market at the measurement date.

Level 2 : Fair value is determined using valuation techniques where the input is based on observable market data. The inputs for this level include:

a. quoted prices for similar assets or liabilities in active markets;

b. quoted prices for identical or similar assets or liabilities in markets that are not active;

c. inputs other than quoted prices that are observable for the asset or liability, for example:

i. interest rate and yield curves observable at commonly quoted intervals;

ii. implied volatilities;

iii. credit spreads;

d. market -corroborated inputs.

Level 3 : Fair value is determined using valuation techniques where the input is not based on observable market data.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

55

(€m)

June 30,

2026 1

Level 1 Level 2 Level 3 Total

Assets

Financial assets at fair value:

Derivatives at FVPL - 39 - 39 CFH derivatives - 330 - 330 Financial assets at FVPL 75 - - 75 Financial assets at FVOCI 11 - - 11 Other investments at FVOCI - - 5 5 Total assets 86 369 5 460

Liabilities

Financial liabilities at fair value:

Derivatives at FVPL - 14 - 14 CFH derivatives - 60 - 60 Total liabilities - 74 - 74

Financial assets classified in fair value Level 3 have not undergone significant movements in the period.

Given the short -term nature of trade receivables and trade payables, their carrying amounts, net of any allowances for impairment, are treated as a good approximation of fair value.

Financial assets at fair value through profit or loss of €75 million, classified in fair value Level 1, refer mainly to funds in which Brazilian subsidiaries have temporarily invested their liquidity.

Financial assets at fair value through other comprehensive income of €11 million, classified in fair value Level 1, refer mainly to Italian government bonds.

During the first six months of 202 6 there were no transfers of financial assets and liabilities between the different levels of the fair value hierarchy.

F. BUSINESS COMBINATIONS

Channell Commercial Corporation On June 10, 2025, Prysmian acquired control of Channell Commercial Corporation. For accounting purposes, the acquisition date was retrospectively adjusted to June 1, 2025.

The consideration transferred at closing amounted to €878 million (USD1,001 million). This amount was subsequently subject to a contractual adjustment of €11 million (USD13 million), of which €6 million (USD8 million) was paid in December 2025. In December 2025, an additional €172 million (USD200 million) was paid in relation to the contractual earn -out, corresponding to the maximum amount agreed under the contract.

Costs directly attributable to the acquisition amounted to approximately €6 million, before tax effects, with a related tax effect of approximately €1 million. These costs were recognized in the income statement for 2025 under “ Other expenses”.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

56 The excess of the purchase price over the fair value of the acquired net assets has been recognized as goodwill amounting to €493 million. This goodwill is mainly attributable to the earnings accretion expected to result from integration of the company into the Group, including benefits arising from anticipated synergies once fully achieved, and the yet to be recognized additional value of the net assets.

Details of the net assets acquired and goodwill are presented below

(€m)

June 1, 2025 Purchase consideration 889 Disbursement for Earn -out 172 Total purchased consideration (A) 1,061 Fair value of net assets acquired (B) 568 Goodwill (A-B) 493

Details of the fair values of the assets/liabilities acquired are as follows:

(€m)

June 1, 2025 Property, plant and equipment 146 Intangible assets 429

Inventories 21

Trade and other receivables 56 Assets held for sale, net of liabilities held for sale 9 Net deferred tax liabilities (83) Trade and other payables (28) Cash and cash equivalents 117 Gross financial liabilities (99) Fair value of net assets acquired 568

Intangible assets include customer relationships amounting to €403 million, patents amounting to €14 million and concessions, licenses, trademarks and similar rights amounting to €12 million.

All tangible assets have a finite useful life.

ACSM

As described in the section “Significant events during the period” included in the Directors’ Report, Prysmian acquired control of ACSM on February 10, 2026 .

The purchase consideration amounted to €148 million, of which €13 million was paid in 2025 and €135 million was paid in 2026. The purchase consideration may be subject to adjustments, as provided for in the purchase agreement.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

57 The assets and liabilities of ACSM have been measured on a provisional basis given that , as of the date of this report , the main measurement procedures have not yet been complet ed. In accordance with IFRS 3, the fair value s of the assets, liabilities and contingent liabilities may be subject to final adjustment within twelve months of the acquisition date.

The excess of the purchase price over the fair value of the net assets acquired has been provisionally recognized as goodwill and, as permitted by IFRS 3, quantified as €104 million. This goodwill is main ly attributable to the earnings accretion expected to result from integration of the company into the Group, including benefits from anticipated synergies once fully achieved, and the yet to be recognized additional value of the net assets acquired .

Details of the net assets acquired and the goodwill recognized are provided below:

(€m)

February 10, 2026 Purchase consideration 148 Fair value of net assets acquired 44

Goodwill 104

Details of the provisional fair values of the assets/liabilities acquired are as follows:

(€m)

February 10, 2026 Property, plant and equipment 50 Trade and other receivables 22 Provision for risk (5) Trade and other payables (6) Cash and cash equivalents 11 Gross financial liabilities (28) Fair value of net assets acquired 44

Had ACSM been consolidated from January 1, 2026, the Group ’s revenues and net profit would not have been materially different.

Alesea

As described in “Significant Events During the period” in the Directors’ Report, Prysmian obtained control of Alesea Srl on February 12, 2026 .

The consideration paid at closing was not significant in amount. The consolidation of Alesea resulted in the recognition of other income of €25 million, relating both to the remeasurement of the previously held equity interests and to a gain arising from the exercise of a call option, as well as the recognition of goodwill of €22 million. This goodwill is mainly attributable to earnings accretion expe cted to result from integration of the company into the Group, including benefits from anticipated synergies once fully achieved, and the yet to be recognized additional value of the net assets acquired.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

58 The assets and liabilities of Alesea Srl have been measured on a provisional basis, given that , as of the date of this report , the main measurement procedures have not yet been completed . In accordance with IFRS 3, the fair value s of the assets, liabilities and contingent liabilities may be subject to final adjustments within twelve months of the acquisition date.

Had Alesea been consolidated from January 2026, the Group’s revenues and net profit would not have been materially different.

G. SEGMENT INFORMATION

The Group's operating segments are:

- Transmission, including the identifiable CGUs High Voltage Direct Current, Network Components High Voltage, Submarine Power, Submarine Telecom, Offshore Specialties and EOSS High Voltage businesses ;

- Power Grid , where the smallest identifiable CGUs are Regions/Countries depending on the specific organi zation ;

- Electrification , where the smallest identifiable CGUs coincide with Regions/Countries depending on the specific organi zation;

- Digital Solutions , wh ere the smallest CGU is the operating segment itself .

Segment information is structured in the same way as the report periodically prepared for the purpose of reviewing business performance. This management report presents operating performance by macro type of business (Transmission, Power Grid, Electrificat ion and Digital Solutions), and the results of operating segments primarily on the basis of Adjusted EBITDA, defined as earnings (loss) for the period before income and expense s considered non -recurring, non -operating or related to business reorganizations , the change in the fair value of commodities derivatives and in other fair value items, amorti zation, depreciation and impairment, finance costs and income and taxes.

All corporate fixed costs are allocated to the Transmission, Power Grid, Electrification and Digital Solutions segments. Revenues and costs are allocated to each operating segment by identifying all directly attributable revenues and costs and allocating the re lated indirect costs.

Group operating activities are organized and managed separately according to the nature of the products and services provided: each segment offers different products and services to different markets. Revenues from the sale of goods and services are analyzed geographically on the basis of the location of the registered office of the company that issues the invoices, regardless of the geographic destination of the products sold. All transfer prices are set using the same conditions applied to other transacti ons between Group companies and are generally determined by applying a mark -up on production costs.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

59 Assets and liabilities by operating segment are not included in the data reviewed by management and so, as permitted by IFRS 8, the Group's statement of financial position is not presented by operating segment.

G.1 OPERATING SEGMENTS

The following tables present information by operating segment:

(€m )

H1 2026

Transmission Power Grid Electrification Digital Solutions Total Prysmian

Revenues (1) 1,636 2,218 6,394 991 11,239 Cost (1,311) (1,97 6) (5,84 0) (781) (9,908)

Adj. EBITDA (A) 325 242 554 210 1,331

% of revenues 19.9% 10.9% 8.7% 21.2% 11.8% Adjustments (6) 12 (56) (5) (55)

EBITDA (B) 319 254 498 205 1,276

% of revenues 19.5% 11.5% 7.8% 20.7% 11.4% Amorti zation and depreciation (C) (133) (32) (137) (54) (356) Change in f air value of commodity derivatives (D) 32 Fair value of share -based payment (E) (34) Asset (impairment s)/ impairment reversal s (F) (12) Operating income (B+C+D+E+F) 906 % of revenues 8.1% Finance income 264 Finance costs (381) Income taxes (205) Net Profit 584 % of revenues 5.2%

Attributable to:

Owners of the parent 569 Non -controlling interests 15 (1) Revenues of the operating segments and business areas are reported net of intercompany and Intersegment transactions, in line with the presentation adopted in the regularly reviewed reports.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

60

H1 202 5 (*)

Transmission Power Grid Electrification Digital Solutions Total

Prysmian

Revenues (1) 1,486 1,865 5,577 726 9,654 Cost (1,237) (1,615) (5,049) (621) (8,522)

Adj. EBITDA (A) 249 250 528 105 1,132

% of revenues 16.8% 13.4% 9.5% 14.4% 11.7% Adjustments (1) (1) (17) 21 2

EBITDA (B) 248 249 511 126 1,134

% of revenues 16.7% 13.3% 9.2% 17.4% 11.7% Amorti zation and depreciation

(C) (78) (32) (143) (36) (289)

Change in f air value of commodity derivatives (D) (56) Fair value of share -based payment (E) (40)

Asset (impairment)/

impairment reversal (F) (8) Operating income (B+C+D+E+F) 741 % of revenues 7.7% Finance income 558 Finance costs (703) Income taxes (161) Net Profit 435 % of revenues 4.5%

Attributable to:

Owners of the parent 424 Non -controlling interests 11 (1) Revenues of the operating segments and business areas are reported net of intercompany and Intersegment transactions, in line with the presentation adopted in the regularly reviewed reports.

* The comparative figures as at June 20, 2025 have been restated compared with the figures originally published, following completion of the purchase price allocation of Channell.

G.2 GEOGRAPHICAL AREAS

The following table presents revenues from the sale of goods and services by geographical area.

Revenues from the sale of goods and services are analy zed geographically on the basis of the location of the registered office of the company that issues the invoices, regardless of the geographic destination of the products sold.

(€m)

H1 2026 H1 2025

Revenues 11,239 9,654

EMEA* 5,349 4,601

(of which Italy) 1,682 1,365

North America 4,492 3,816

Latin America 761 731

Asia Pacific 637 506 (*) EMEA = Europe, Middle East and Africa

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

61

1. PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

Details of these line items and related movements are as follows:

(€m)

Property, plant and equipment Goodwill Other intangible

assets

Balance as of December 31, 2025* 5,279 3,645 1,610 Movements 202 6:

- Business combinations 53 126 1

- Investments 267 - 15

- Increases due to leases (IFRS 16) 107 - -

- Depreciation and amortisation (291) - (65)

- Impairment (6) - -

- Currency translation differences 87 93 45

- Monetary revaluation due to hyperinflation 2 - -

- Other 5 - (5) Balance as of June 30, 2026 5,503 3,864 1,601

Of which:

- Historical cost 9,117 3,864 2,687

- Accumulated depreciation/amortisation and impairment (3,614) - (1,086 ) Net book value 5,503 3,864 1,601

* The balance as of December 31, 2025 has been restated compared with the figures originally published, following completion of the purchase price allocation of Channell.

(€m)

Property, plant and equipment Goodwill Other intangible

assets

Balance as of December 31, 2024* 4,922 3,492 1,424 Movements 202 5:

- Business combinations 147 868 53

- Investments 359 - 11

- Increases due to leases (IFRS 16) 105 - -

- Disposals (4) - -

- Depreciation and amortisation (222) - (67)

- Impairment (8) - -

- Currency translation differences (259) (342) (141)

- Monetary revaluation due to hyperinflation 2 - -

- Other (20) - 2 Balance as of June 30, 2025* 5,022 4,018 1,282

Of which:

- Historical cost 8,181 4,018 2,137

- Accumulated depreciation/amortisation and impairment (3,159) - (855) Net book value 5,022 4,018 1,282

* The balances as of December 31, 202 4 and as of June 30, 2025 have been restated compared with the figures originally published, respectively following completion of the purchase price allocation of Warren & Brown and Channell.

Investment in the first half of 202 6 amounted to €282 million, of which €267 million refers to Property, plant and equipment and €15 million to Intangible assets.

Investment breaks down as follows:

- 75%, or €212 million, for projects to increase and rationali ze production capacity and develop

new products;

- 18%, or €51 million, for projects to improve industrial efficiency;

- 7%, or €19 million, for IT implementation and R&D projects.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

62 Regarding the recoverability of recognised goodwill, no indicators of impairment were identified during the first six months of 202 6, after having considered both external and internal sources.

2. EQUITY -ACCOUNTED INVESTMENTS

Details are as follows:

(€m)

June 30, 2026 December 31, 2025 Investments in associates 43 43 Total equity -accounted investments 43 43

Investments in associates Information about the main investments in associates:

Company name Location % interest Yangtze Optical Fibre and Cable (Shanghai) Co. Ltd China 25.00% Kabeltrommel Gmbh & Co.K.G. Germany 44.93% Power Cables Malaysia Sdn Bhd Malaysia 40.00% Elkat Ltd. Russia 40.00%

(€m)

June 30, 2026 December 31, 2025 Yangtze Optical Fibre & Cable (Shanghai) Co. Ltd. 11 11 Kabeltrommel Gmbh & Co.K.G. 5 6 Elkat Ltd. 12 11 Power Cables Malaysia Sdn Bhd 15 15 Total 43 43

Yangtze Optical Fibre & Cable (Shanghai) Co. Ltd, formed in 2002 and based in Shanghai (China), is an associate, 25% of whose share capital is held by Prysmian. The company specialises in the manufacture and sale of optical fib er and cables, offering a wide range of optical fib er cables and accessories, services and FTTx solutions.

Kabeltrommel GmbH & Co. K.G. is a German company that heads a consortium engaged in the production, procurement, management and sale of disposable and reusable cable carrying devices (drums). The services offered by the company include both the sale of cable drums, and the full range of logistical services such as drum shipping, handling and subsequent retrieval. The company operates primarily in the German market.

Power Cables Malaysia Sdn Bhd, a company based in Malaysia, manufactures and sells power cables and conductors, with its prime specialism high voltage products.

Elkat Ltd. is based in Russia and manufactures and sells copper conductors; it is the only company certified by the LME to test copper cathodes for the local market.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

63

3. TRADE RECEIVABLES, CONTRACT ASSETS AND OTHER RECEIVABLES

Details are as follows:

(€m)

June 30, 2026

Non -current Current Total Trade receivables - 3,566 3,566 Allowance for doubtful accounts - (80) (80) Total trade receivables - 3,486 3,486 Contract assets - 901 901

Other receivables:

Financial receivables 7 57 64 Prepaid finance costs 3 3 6 Receivables from employees - 25 25 Pension plan receivables - 3 3 Advances to suppliers - 106 106 Other 32 471 503 Total other receivables 42 665 707 Total 42 5,052 5,094

(€m)

December 31, 2025

Non -current Current Total Trade receivables - 2,511 2,511 Allowance for doubtful accounts - (83) (83) Total trade receivables - 2,428 2,428 Contract assets - 567 567

Other receivables:

Financial receivables 7 21 28 Prepaid finance costs 4 3 7 Receivables from employees - 5 5 Pension plan receivables - 4 4 Advances to suppliers - 76 76 Other 29 465 494 Total other receivables 40 574 614 Total 40 3,569 3,609

4. INVENTORIES

Details are as follows:

(€m)

June 30, 2026 December 31, 2025 Raw materials 1,164 1,030 of which write -down of raw materials (105) (93) Work in progress and semi -finished goods 938 748 of which write -down of work in progress and semi -finished goods (26) (30) Finished goods (*) 1,537 1,288 of which write -down of finished goods (153) (140) Total 3,639 3,066 (*) Finished goods also include those for resale.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

64

5. DERIVATIVES

Details are as follows:

(€m)

June 30, 2026

Asset Liability

Interest rate derivatives (CFH) 4 3 Forex derivatives on commercial transactions (CFH) 9 11 Commodity derivatives (CFH) 89 8 Forex derivatives on commercial transactions - 1 Commodity d erivatives 3 -

Total non -current 105 23 Forex derivatives on commercial transactions (CFH) 3 10 Commodity derivatives (CFH) 225 28 Forex derivatives on commercial transactions 11 11 Forex derivatives on financial transactions 1 1 Commodity d erivatives 24 1 Total current 264 51 Total 369 74

(€m)

December 31, 2025

Asset Liability

Interest rate derivatives (CFH) 2 18 Forex derivatives on commercial transactions (CFH) 8 5 Derivatives on commodities (CFH) 110 5 Total non -current 120 28 Interest rate derivatives (CFH) 1 -

Forex derivatives on commercial transactions (CFH) 5 3 Commodity derivatives (CFH) 191 36 Forex derivatives on commercial transactions 3 12 Forex derivatives on financial transactions 3 1 Commodity derivatives 13 20 Total current 216 72 Total 336 100

6. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND OTHER

COMPREHENSIVE INCOME

Financial assets at fair value through profit or loss, amounting to €75 million ( €48 million a s of December 31, 2025), refer mainly to funds in which Brazilian subsidiaries have temporarily invested their liquidity.

Financial assets at fair value through other comprehensive income, amounting to €11 million ( €11 million a s of December 31, 2025), refer mainly to funds invested in Italian government securities.

7. CASH AND CASH EQUIVALENTS

Details are as follows:

(€m)

June 30, 2026 December 31, 2025 Cash and cheques 6 7 Bank and postal deposits 1,240 2,018 Total 1,246 2,025

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

65 Cash and cash equivalents, deposited with major financial institutions, are managed centrally through Prysmian's treasury company and by its various operating units.

Cash and cash equivalents managed by Prysmian's treasury company amounted to €867 million as of June 30, 2026, versus €1,470 million as of December 31, 2025. The change in cash and cash equivalents is commented on in Note 25. Statement of cash flows.

8. ASSETS AND LIABILITIES HELD FOR SALE

Assets held for sale amount to € 1 million as of June 30, 2026, down from December 31, 2025 (€16 million) . They relate to a building owned by a foreign subsidiary for which a preliminary sale agreement has been reached.

9. DIRECT TAX ASSETS AND LIABILITIES

Details are as follows:

(€m)

June 30, 2026

Non -current Current Total Direct tax assets 8 121 129 Direct tax liabilities 30 230 260

(€m)

December 31,

2025

Non -current Current Total Direct tax assets 8 113 121 Direct tax liabilities 32 229 261

Direct tax liabilities include approximately €198 million in tax liabilities and a pproximately €62 million in provisions for risks relating to expenditure deemed probable, or merely possible, and arising from business combinations carried out in previous years.

10. EQUITY

Consolidated equity has increase d by €633 million since December 31, 2025, reflecting the net

effect of:

- profit for the period of €584 million;

- dividend s paid, amounting to €268 million;

- positive foreign currency translation differences of € 270 million;

- a positive change of €34 million in the share -based payment reserve relating to long -term incentive plans and the employee share purchase plan at preferential conditions;

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

66

- fair value gains of €24 million on derivatives designated as cash flow hedge s, including hedging costs of €1 million, net of the related tax effect;

- a decrease of €25 million related to interest accrued on the Perpetual Hybrid Bond;

- an increase of € 5 million resulting from movements in the actuarial gains and losses reserve on employee benefits;

- the recognition of non -controlling interests arising from the consolidation of Alesea Srl, amounting to €5 million;

- an increase of €4 million relating to the effects of accounting for hyperinflation.

As of June 30, 2026, Prysmian SpA 's share capital consisted of 301,836,822 shares.

Movements in Prysmian SpA’s ordinary shares and treasury shares are shown in the following

table:

Ordinary shares Treasury shares Total Balance a s of December 31, 2024 295,785,483 (8,871,060) 286,914,423 Capital increase (1) 618,319 - 618,319 Purchase of treasury shares - (754,213) (754,213) Allotments and sales (2) - 33,120 33,120 Balance a s of December 31, 2025 296,403,802 (9,592,153) 286,811,649 Capital increase (3) 5,433,020 - 5,433,020 Share buy -back - - -

Allotments and sales (4) - 4,606 4,606 Balance as of June 30, 2026 301,836,822 (9,587,547) 292,249,275 (1) Issue of 571,095 new shares under the BE IN plan and 47,224 new shares under the YES plan .

(2) Allotment and/or sale of treasury shares under the BE IN plan and the YES share purchase plan for Group employees.

(3) Issue of 358,831 new shares under the BE IN plan and 5,074,189 new shares under the LTI plan. The share capital increase carried out during the period was executed in support of the LTI and BE IN incentive plans. In connection with the allocation of shares t o employees, Prysmian, acting as withholding tax agent, sold on the market a number of share s for a total consideration of approximately €300 million in order to fulfil the tax obligations associated with the beneficiaries of the plans.

(4) Allotment and/or sale of treasury shares under the LTI plan .

Treasury shares

The following table shows movements in treasury shares during the reporting period:

Number of

shares % of share capital Average

unit

value

(€) Total

carrying

amount

(€) Balance a s of December 31, 2024 8,871,060 3.00% 44.9 398,306,433

- Purchase of treasury shares 754,213 - 64.9 48,948,424

- Allotments and sales (33,120) - 46.5 (1,538,978) Balance a s of December 31, 2025 9,592,1 53 3.24% 46.5 445,715,879

- Purchase of treasury shares - -

- Allotments and sales (4,606) 46.5 (214,179) Balance as of June 30, 2026 9,587,547 3.18% 46.5 445,501,700

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

67

11. BANK AND OTHER BORROWINGS

Details are as follows:

(€m)

June 30, 2026

Non -current Current Total Bank and other borrowings 989 97 1,086 Sustainability -Linked Term Loan 2022 1,198 15 1,213 Mediobanca Loan 150 - 150 Unicredit Loan 149 - 149 Term Loan Encore Wire 935 21 956 €850m bond 849 15 864 €650m bond 646 13 659 Lease liabilities 279 123 402 Total 5,195 284 5,479

(€m)

December 31, 2025

Non -current Current Total Bank and other borrowings 800 75 875 Sustainability -Linked Term Loan 2022 1,197 16 1,213 Mediobanca Loan 150 - 150 Unicredit Loan 149 - 149 Term Loan Encore Wire 905 23 928 €850m bond 847 1 848 €650m bond 645 1 646 Lease liabilities 291 108 399 Total 4,984 224 5,208

Bank and other borrowings and bonds are analy zed as follows , excluding lease liabilities :

(€m)

June 30, 2026 Decembe r 31, 2025 CDP Loans 197 122 EIB Loans 784 683 Sustainability -Linked Term Loan 2022 1,213 1,213 Mediobanca Loan 150 150 Unicredit Loan 149 149 Term Loan Encore Wire 956 928 Other borrowings 105 70 Bank and other b orrowings 3,554 3,315 €850m bond 864 848 €650m bond 659 646 Total 5,077 4,809 Prysmian's principal credit agreements in place at the reporting date are as follows:

Revolving Credit Facility 2023 A Revolving Credit Facility was agreed on June 20, 2023. The €1,000 million facility may be drawn down for business and working capital needs, including the refinancing of existing facilities, and to issue guarantees. It has a five -year term, with an option to extend to six and seven years. The first optio n to extend the term to six years was exercised in 2024, while the second seven -year option was exercised in 2025. In addition, with the aim of further embedding ESG factors in the Group’s strategy, Prysmian has elected to include important environmental a nd social KPIs among the parameters determining the terms of credit. The revolving credit facility is

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

68 sustainability -linked, being tied to Prysmian’s existing decarboni zation targets (annual GHG emissions between 2023 and 2030), to the ratio of female white -collar and executive s hired to total hires, and to the number of sustainability audits performed in the supply chain. The achievement or otherwise of these indicators results in a reduction or increase in the annual spread.

As of June 30, 2026, this facility was not being used .

Revolving Credit Facility 2025 A Revolving Credit Facility was agreed with Unicredit on December 1, 2025.

The €200 million facility may be drawn down for business and working capital needs and it has a five-year term.

As of June 30, 2026, this facility was not being used.

CDP Loans

On March 6, 2023, a long -term 6 -year loan of €120 million was agreed with CDP for the purpose of supporting R&D programs in Italy and Europe (specifically in France, Germany, Spain and the Netherlands). The loan, received on February 15, 2023, is repayable in a lump sum at maturity on February 15, 2029.

On March 31, 2026, another long ‑term financing agreement worth €75 million and with a 5 -year tenor was a greed with Cassa Depositi e Prestiti SpA . The loan will be used to support new investment and expenditure in research and innovation in Italy during the 2026 –2028 period, as part of the Research & Development Project. The loan is repayable in a lump sum at maturity.

As of June 30, 2026, the fair value of the CDP loans approximated to their carrying amount.

EIB Loans

On February 3, 2022, the Group announced that it had agreed a loan from the European Investment Bank (EIB) for €135 million to support its European R&D program in the energy and telecom cable systems sector over the period 2021 -2024.

This loan is specifically intended to support projects developed at R&D centers in five European countries: Italy, France, Germany, Spain and the Netherlands.

The loan, received on January 28, 2022, is repayable in a lump sum at maturity on January 29, 2029.

On July 24, 2024, Prysmian and the EIB agreed a new €450 million financing package to facilitate electricity transmission and distribution in Europe. In order to support the growing demand for renewable energy, particularly offshore wind power, Prysmian will use the funds made available by the EIB to build new production lines for extra high voltage submarine cables, lines for high

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

69 voltage onshore cables, a nd to make technical improvements to existing lines at its three flagship plants in Pikkala (Finland), Arco Felice Pozzuoli (Italy) and Gron (France).

The loan will be disbursed in tranches and is repayable in a lump sum eight years after the disbursement of each tranche. The first tranche of €198 million was received on August 1, 2024, while the second tranche of €145 million was received on July 24, 2025 , and the third and final tranche of € 44 million on July 10, 2026 .

On October 9, 2025, the financing package was reduced from €450 million to €387 million.

On November 27, 2025, Prysmian agreed a €300 million financing package with the European Investment Bank (EIB) to support its European research and development activities over the four -

year period from 2025 to 2028, accelerating the adoption of new solutions to foster the energy transition and digital transformation. The first tranche of €200 million was received on December 12, 2025, and the second tranche of €100 million on February 24, 2026, and the third, with repayment scheduled in a single instalment eight years after the disbursement date.

As of June 30, 2026, the fair value of the EIB loans approximated to their carrying amount.

Sustainability -Linked Term Loan 2022 On July 7, 2022, the Group agreed a medium -term Sustainability -Linked loan of €1,200 million with a syndicate of leading Italian and international banks. This five -year loan was drawn down in full on July 14, 2022 and primarily used to refinance the €1 billion term loan obtained in 2018, which was thus repaid early on the same date . With the aim of strengthening its financial structure and further embedding ESG factors in its strategy , Prysmian elected to include important environmental and social KPIs amon g the parameters determining the terms of the loan.

The loan is linked to Prysmian’s existing decarbonization targets (annual GHG emissions between 2023 and 2030), to the ratio of female desk workers and executives hired to total hires, and to the number of sustainability audits performed in the supply chai n. The achievement or otherwise of these indicators results in a reduction or increase in the annual spread .

Interest rate swaps with an overall notional value of €1,200 million have been arranged in respect of this loan, , with the objective of hedging variable rate interest flows.

As of June 30, 2026, the fair value of the Sustainability -Linked Term Loan approximated to its carrying amount.

Unicredit Loan

On December 11, 2024, Prysmian SpA agree d a €150 million long -term loan with Unicredit. The loan was disbursed on December 13, 2024 and will be repaid in a lump sum on the agreed maturity date in December 2029.

As of June 30, 2026, the fair value of the Unicredit loan approximated to its carrying amount.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

70

Mediobanca Loan

On December 10, 2024, Prysmian SpA agree d a €150 million long -term loan with Mediobanca.

The loan was disbursed on December 12, 2024 and will be repaid in a lump sum on the agreed maturity date in December 2029.

As of June 30, 2026, the fair value of the Mediobanca loan approximated to its carrying amount.

Financing of Encore Wire acquisition On July 2, 2024, at the time of the acquisition of Encore Wire, Prysmian drew down a medium -

long term credit facility (Term Loan) of US$1,070 million. The loan’s maturity date coincides with the fifth anniversary of the acquisition closing date (July 2, 2029).

Interest rate swaps have been arranged against the Term Loan, with the objective of hedging variable rate interest flows.

As of June 30, 2026, the fair value of this loan approximated to its carrying amount.

The fair value of loans has been determined using valuation techniques based on observable market data (Level 2 of the fair value hierarchy).

The following tables summari ze the committed facilities available to Prysmian a s of June 30, 2026 and December 31, 2025, shown at their nominal amount:

(€m)

June 30, 2026 Total lines Drawn Undrawn Revolving Credit Facility 2023 1,000 - 1,000 Revolving Credit Facility 202 5 200 - 200 Sustainability -Linked Term Loan 2022 1,200 (1,200) -

CDP Loans 195 (195) -

EIB Loans 822 (778) 44 Term Loan Encore Wire 1,000 (1,000) -

Unicredit Loan 150 (150) -

Mediobanca Loan 150 (150) -

Total 4,717 (3,473) 1,244

(€m)

December 31, 2025 Total lines Drawn Undrawn Revolving Credit Facility 2023 1,000 - 1,000 Revolving Credit Facility 202 5 200 - 200 CDP Loans 120 (120) -

Sustainability -Linked Term Loan 2022 1,200 (1,200) -

EIB Loans 822 (678) 144 Term Loan Encore Wire 1,000 (1,000) -

Mediobanca Loan 150 (150) -

Unicredit Loan 150 (150) -

Total 4,642 (3,298) 1,344

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

71

Bonds

On November 21, 2024, Prysmian announced the placement of a dual -tranche offering of unsecured senior notes amounting to a total of €1,500 million, rated BBB - by S&P Global Ratings Europe Limited (S&P).

The issue consists of a four -year tranche of €850 million due on November 28, 2028, with a fixed annual coupon of 3.625% and an issue price of €99.817, and a second seven -year tranche of €650 million due on November 28, 2031, with a fixed annual coupon of 3.875% and an issue price of €99.459. The notes have a minimum denomination of €100,000, plus integral multiples of €1,000.

Among the objectives of this issuance was repayment of the bridge loans obtained to fund the acquisition of Encore Wire.

As of June 30, 2026, the four -year €850 million bond had a fair value of € 858 million, while the seven -year €650 million bond had a fair value of € 664 million.

The fair value of bonds is based on market -derived data (Level 1 of the fair value hierarchy).

The following tables report show movements in bank and other borrowings :

(€m)

CDP

LoansEIB

Loans€850m

bond€650m

bondSustainability-

Linked Term

loanEncore

Wire

Loans Unicredit,

Mediobanca

LoansOther

borrowings/

Lease

liabilitiesTotal

Balance as of December 31, 2025 122 683 848 646 1,213 928 299 469 5,208 Business combinations - - - - - - - 28 28 Currency translation differences - - - - - 29 - 7 36 New borrowings 75 100 - - - - - 12 187 Repayments - - - - - - - (144) (144) Amortization of bank and financial fees - - 1 - 1 1 - - 3 New IFRS 16 leases - - - - - - - 107 107 Interest and other movements - 1 15 13 (1) (2) - 28 54 Balance as of June 30, 2026 197 784 864 659 1,213 956 299 507 5,479

(€m)

CDP

LoansEIB

Loans€850m

bond€650m

bondSustainability-

Linked Term

loanEncore

Wire

Loans Unicredit,

Mediobanca

LoansBorrowings

related to

assets held

for saleOther

borrowings/

Lease liabilitiesTotal

Balance as of December 31, 2024 197 338 846 645 1,218 1,530 298 - 343 5,415 Business combinations - - - - - - - 31 100 131 Currency translation differences - - - - - (121) - - (11) (132) New borrowings - - - - - - - - 516 516 Repayments - - - - - (467) - - (288) (755) Amortization of bank and financial fees - - 1 - 1 3 1 - - 6 New IFRS 16 leases - - - - - - - - 103 103 Interest and other movements 1 (1) 15 13 (5) (14) - - - 9 Balance as of June 30, 2025 198 337 862 658 1,214 931 299 31 763 5,293

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

72

NET FINANCIAL DEBT

(€m)

Note June 30, 2026 December 31, 2025 CDP Loans 11 195 120 EIB Loans 11 777 677 Sustainability -Linked Term Loan 2022 11 1,198 1,197 €850m bond 11 849 847 €650m bond 11 646 645 Unicredit Loan 11 149 149 Mediobanca Loan 11 150 150 Term Loan Encore Wire 11 935 905 Lease liabilities 11 279 291 Interest rate derivatives 5 3 18 Other financial liabilities 11 17 3 Total long -term financial liabilities 5,198 5,002 CDP Loans 11 2 2 EIB Loans 11 7 6 Current interest on perpetual hybrid bond 45 20 €850m bond 11 15 1 €650m bond 11 13 1 Sustainability -Linked Term Loan 2022 11 15 16 Term Loan Encore Wire 11 21 23 Lease liabilities 11 123 108 Forex derivatives on financial transactions 5 1 1 Other financial liabilities 11 50 47 Financial liabilities related to assets held for sale - 3 Total short -term financial liabilities 292 228 Total financial liabilities 5,490 5,230 Long -term financial receivables 3 7 7 Long -term bank fees 3 3 4 Financial assets at amorti zed cost 4 4 Non -current interest rate derivatives 5 4 2 Current interest rate swaps 5 - 1 Current forex derivatives on financial transactions 5 1 3 Short -term financial receivables 3 57 21 Short -term bank fees 3 3 3 Financial assets at FVPL 6 75 48 Financial assets at FVOCI 6 11 11 Financial assets held for s ale 6 - 4 Cash and cash equivalents 7 1,246 2,025 Total financial assets 1,411 2,133 Net financial debt 4,079 3,097

The following table presents a reconciliation of Prysmian's net financial debt to the amount reported in accordance with the requirements of CONSOB warning notice no. 5/21 of 29 April 2021 concerning compliance with the "Guidelines on disclosure requirements pursuant to the Prospectus Regulation" published by ESMA on 4 March 2021 (reference ESMA32 -382-1138):

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

73

(€m)

Note June 30, 2026 December 31, 2025 Net financial debt – as reported above 4,079 3,097

Adjustments to exclude:

Long -term financial receivables 3 11 11 Long -term bank fees 3 3 4 Cash flow derivatives (assets) 4 3

Adjustments to include:

Net non -hedging forex derivatives on commercial transactions, excluding non -

current assets 5 1 9 Net non -hedging commodity derivatives , excluding non -current assets 5 (23) 7 Recalculated net financial debt 4,075 3,131

12. TRADE PAYABLES, CONTRACT LIABILITIES AND OTHER PAYABLES

Details are as follows:

(€m)

June 30, 2026

Non -current Current Total Trade payables - 3,595 3,595 Total trade payables - 3,595 3,595 Contract liabilities - 2,130 2,130

Other payables:

Tax and social security payables - 352 352 Advances from customers 18 12 30 Payables to employees - 217 217 Accrued expenses - 166 166 Other - 569 569 Total other payables 18 1,316 1,334 Total 18 7,041 7,059

(€m)

December 31, 2025

Non -current Current Total Trade payables - 2,798 2,798 Total trade payables - 2,798 2,798 Contract liabilities - 2,325 2,325

Other payables:

Tax and social security payables - 329 329 Advances from customers 9 27 36 Payables to employees 4 220 224 Accrued expenses - 166 166 Other 26 300 326 Total other payables 39 1,042 1,081 Total 39 6,165 6,204

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

74

13. PROVISIONS FOR RISKS AND CHARGES

Details are as follows:

(€m)

June 30, 2026 (*)

Non -current Current Total Restructuring costs - 42 42 Legal, contractual and other risks 35 593 628 Environmental risks - 85 85 Indirect Tax risks 8 27 35 Total 43 747 790 (*) Provisions for risks a s of 30 June 202 6 include Euro 74 million for potential liabilities recorded in application of IFRS 3 - Business Combinations .

(€m)

December 31, 2025 (*)

Non -current Current Total Restructuring costs - 37 37 Legal, contractual and other risks 39 547 586 Environmental risks 1 85 86 Indirect Tax risks 22 21 43 Total 62 690 752 (*) Provisions for risks as of 31 December 202 5 include Euro 79 million for potential liabilities recorded in application of IFRS 3 - Business Combinations .

The following table show s movements in these provisions during the reporting period:

(€m)

Restructuring

costs Legal,

contractual

and other

risks Environ -

mental

risks Indirect Tax

risks Total

Balance a s of December 31, 2025 37 586 86 43 752 Increases 15 70 - - 85 Uses (10) (14) (2) - (26) Releases - (28) - (9) (37) Currency translation differences - 6 2 2 10 Other - 8 (1) (1) 6 Balance a s of June 30, 2026 42 628 85 35 790

The provision s for contractual, legal and other risks amount ed to €628 million as of June 30, 2026 (€586 million as of December 31, 2025). The provision s mainly include €212 million (€200 million as of December 31, 2025) for antitrust investigations and legal actions brought by third parties against Prysmian companies as a result of and/or in connection with decisions adopted by the relevant authorities, as described below. The re mainder of th e provision s consist of provisions related to and arising from business combinations and provisions for risks related to ongoing and completed contracts and provisions for risks related to commercial disputes.

Antitrust - European Commission investigation of the high -voltage underground and submarine

cables sector

In late January 2009 , the European Commission began an investigation in late January 2009 into a number of European and Asian power cable manufacturers to verify the existence of alleged

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

75 anti-competitive practices in the high -voltage underground and submarine cables markets. The investigation resulted in a European Commission decision, subsequently upheld by the European courts, that found Prysmian Cavi e Sistemi Srl ("Prysmian CS") jointly liable with Pirelli & C. SpA ("Pirelli") for the alleged infringement in the period from February 18, 1999 to July 28, 2005, and Prysmian Cavi e Sistemi Srl jointly liable with Prysmian SpA ("Prysmian") and The Goldman Sachs Group Inc. ("Goldman Sachs") for the alleged infringement in the period from July 29, 2005 to January 28, 2009. Following the conclusion of this case, Prysmian paid the European Commission its share of the related fine within th e prescribed term, using provisions previously made .

Likewise in the case of General Cable, the European courts confirmed the content of the European Commission's decision of April 2014, thus definitively upholding the fine levied against it under this decision. As a result, Prysmian proceeded to pay the related fine.

In November 2014 and October 2019 , respectively, Pirelli filed two civil actions, since combined, against Prysmian CS and Prysmian in the Court of Milan, seeking (i) to be held harmless from any claim brought by the European Commission in enforcement of its decision and for any expenses incidental to such enforcement; (ii) to be held harmless from any third -party claims for damages relating to the conduct forming the subject of the European Commission's decision and (iii) to be compensated for the damages a llegedly suffered and quantified as a result of Prysmian CS and Prysmian having requested, in certain pending legal actions, that Pirelli be held liable for the unlawful conduct found by the European Commission in the period from 1999 to 2005. As part of the same proceedings, Prysmian CS and Prysmian, in addition to requesting full dismissal of the claims brought by Pirelli, filed symmetrical and opposing counterclaims to those of Pirelli in which they sought (i) to be held harmless from any claim brought b y the European Commission in enforcement of its decision and for any expenses incidental to such enforcement; (ii) to be held harmless from any third -party claims for damages relating to the conduct forming the subject of the European Commission's decision and (iii) to be compensated for damages suffered as a result of the legal actions brought by Pirelli. In a ruling dated May 13, 2024, the Court entirely dismissed all of the claims brought by Pirelli and partially upheld the claims brought by Prysmian. Pi relli has appealed the ruling, reiterating its claims and requesting a full review. The Court of Appeal, in its judgment of March 12, 2026, fully upheld the outcome of the first ‑instance decision. On 8 June 2026, Pirelli filed an appeal with the Italian Supreme Court (Court of Cassation) against the Court of Appeal's judgment

In view of the circumstances described and the developments in the related proceedings, and with the support of their legal advisors, the Directors have recognized provisions in the financial statements that they consider adequate to cover the potential liabilities associated with the matters described .

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

76 Antitrust - Claims for damages ensuing from the European Commission's 2014 decision In early 2017, operators belonging to the Vattenfall Group filed claims in the High Court of London against a number of cable manufacturers, including companies in the Prysmian Group, to obtain compensation for damages purportedly suffered as a result of the alleged anti -competitive practices sanctioned by the European Commission. In June 2020, the Prysmian companies conce rned presented their defense as well as serving a summons on another party to whom the EU decision was addressed. In July 2022, an agreement was reached for an out -of-court settlement of claims against the Prysmian companies concerned. However, the legal proceedings brought by the Prysmian companies against the other party to whom the EU decision was addressed are ongoing .

On April 2, 2019, a writ of summons was served, on behalf of Terna SpA, on Pirelli, Nexans and companies in the Prysmian Group, demanding compensation for damages purportedly suffered as a result of the alleged anti -competitive practices sanctioned by the European Commission in its April 2014 decision. This action has been brought before the Court of Milan. On October 24, 2019, the Prysmian Group companies concerned responded by presenting their preliminary defense. In an order dated February 3, 2020, the C ourt upheld the points raised by the defendants, giving Terna until May 11, 2020 to complete its writ of summons and scheduling a hearing for October 20, 2020. Terna duly completed its summons, which was filed within the required deadline. The pre -trial stage has now concluded and the case has been referred back for a decision.

On April 2, 2019, a writ of summons was served, on behalf of Electricity & Water Authority of Bahrain, GCC Interconnection Authority, Kuwait Ministry of Electricity and Water and Oman Electricity Transmission Company, on a number of cable manufacturers, in cluding companies in the Prysmian Group, on Pirelli and Goldman Sachs. This action, brought in the Court of Amsterdam, once again involved a claim for compensation for damages purportedly suffered as a result of the alleged anti -competitive practices sanct ioned by the European Commission. On December 18, 2019, the Prysmian companies concerned presented their preliminary defense, which was heard on September 8, 2020. On November 25, 2020, the Court of Amsterdam handed down a ruling under which it upheld the submissions made and declined jurisdiction over defendants not based in the Netherlands, thus excluding them from the proceedings. On February 19, 2021, the plaintiffs announced that they had filed an appeal against this ruling. The Prysmian companies conc erned, together with the other third -party first -instance defendants, have taken legal action to contest the plaintiff's claims. On April 25, 2023, the Amsterdam Court of Appeal handed down a ruling under which it decided to submit to the European Court of Justice a number of questions on the interpretation of European law, which it considers key to its decision. The case has therefore been stayed pending a response from the European Court of

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

77 Justice. On April 16, 2026, the Court of Justice delivered its ruling on the requests for interpretation that had been submitted to it, and the proceedings pending before the Amsterdam Court of Appeal has therefore be en resumed.

Furthermore, in February 2023, Prysmian received notification of an application by British consumer associations requesting authorization from the relevant local court to initiate proceedings against a number of cable manufacturers, including Prysmian SpA and Prysmian Cavi e Sistemi Srl. This also involved a claim for compensation for damages supposedly suffered as a result of the alleged anti -competitive practices sanctioned by the European Commission in its April 2014 decision. The court case is pending a nd the Prysmian companies concerned have submitted their preliminary defenses. Under a decision dated May 3, 2024, the UK court conditionally authorized the British consumer association s to initiate the aforementioned proceedings. On October 30, 2025, the UK court ruled on certain preliminary issues, accepting the arguments put forward by Prysmian and the other defendants, thereby reducing the amount of damages claimed. The proceedings remain ongoing.

In view of the circumstances described above and the developments in the related proceedings, and with the support of their legal advisors, the Directors have recognized provisions in the financial statements that they consider adequate to cover the potential liabil ities associated with the matters described .

In June 2023, a writ of summons, sent on behalf of Saudi Electricity Company, was received by a number of cable manufacturers, including certain Prysmian companies. This action, brought before the Court of Cologne, once again involves a claim for compensation for damages purportedly suffered as a result of the alleged anti -competitive practices sanctioned by the European Commission. The case is pe nding.

During June 2026, a writ of summons was served on behalf of China Southern Power Grid Co. Ltd against several cable manufacturers, including Prysmian Cavi e Sistemi S.r.l. In this case as well, the proceedings were brought before the Cologne Regional Court and concern a claim for damages allegedly arising from the anticompetitive conduct sanctioned by the European Commission. The proceedings are currently pending.

Based on the information currently available, and believing these potential liabilities unlikely to crystallize, the Directors have decided not to make any provision.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

78 Antitrust - Other investigations In Brazil, the local antitrust authority started proceedings against a number of manufacturers of high -voltage underground and submarine cables, including Prysmian, notified of such in 2011. On April 15, 2020, the CADE Tribunal issued the operative part of the decision under which it held Prysmian liable for the alleged infringement in the period from February 2001 to March 2004 and ordered it to pay a fine of 10.2 million Brazilian real (approximately €1.8 million). Using the provisions already set aside in previous years, Prysmian pa id the fine within the required deadline.

Prysmian filed an appeal against the CADE decision. Under a ruling dated July 11, 2024, Prysmian's appeal was dismissed, therefore confirming the original decision against which the appeal had been lodged. Prysmian has appealed this ruling by reiterating i ts request to quash the CADE's decision.

At the end of February 2016, the Spanish antitrust authority commenced proceedings to verify the existence of anti -competitive practices by local low -voltage cable manufacturers and distributors, including Prysmian's local subsidiaries. On November 24, 2017, the local antitrust authority notified Prysmian's Spanish subsidiaries of a decision under which they were held liable for the alleged infringement s in the period from June 2002 to June 2015 and were jointly and severally ordered to pay a fine of €15.6 million. Prysmian's Spanish subsidiaries lodged an appeal against this decision.

The appeal was partially upheld by the local court, which on May 19, 2023 ruled that the time period used by the authority to calculate the fine should be reduced, with consequent revision of the fine itself. Prysmian's Spanish subsidiaries have appealed against this ruling. The appeal has been declared inadmissible; however, the ruli ng is still under appeal by the Spanish Antitrust Authority and is therefore not yet final.

The decision of November 24, 2017 also held the Spanish subsidiaries of General Cable liable for a breach of local antitrust law. However, they have obtained immunity from paying the related fine (quantified at a pproximately €12.6 million) having filed for leniency and collaborated with the local antitrust authority in its investigations. General Cable ’s Spanish subsidiaries also appealed against the decision of the local antitrust authority at both first and second instance. The appeals were ultimately dis missed in rulings by the Spanish Supreme Court, notified to the companies concerned on January 19, 2023, thus rendering the local antitrust authority ’s decision against them final.

In June 2022, the antitrust authorities of the Czech Republic and Slovakia conducted inspections at the offices of Prysmian's local subsidiaries with regard to alleged anti -competitive practices in setting metal surcharges. Subsequently, in August 2022 and M arch 2023, the antitrust authorities

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

79 of the Czech Republic and Slovakia respectively announced the opening of an investigation into this matter involving, among others, Prysmian's local subsidiaries.

In August 2025, the Slovak antitrust authority notified all parties involved in the investigations of a statement of objections contesting their alleged anti -competitive conduct. This is a preliminary measure and does not affect the final outcome of the proc eedings. Prysmian has already submitted its observations on the matter in question. Subsequently, in February 2026, the authority issued a first -instance decision imposing a fine of approximately €46 million on the Prysmian subsidiaries involved in the i nvestigation. However, this decision is not enforceable and has been challenged by Prysmian before the governing body of the same authority, requesting its reform.

In March 2026, the Czech competition authority notified all parties involved in the investigations of a statement of objections alleging certain anti -competitive conduct. This measure is preliminary in nature and does not prejudice the final outcome of the procedure. Prysmian therefore submit ted its observations in this regard.

Taking into account the circumstances described above and the developments in the related proceedings, and with the support of their legal advisors, the Directors have recognized provisions in the financial statements that they consider adequate to cover the potential liabil ities associated with the matters described .

In addition, in January 2022, an investigation was initiated by the German antitrust authority (Federal Cartel Office) concerning alleged coordination in setting standard metal surcharges applied by the industry in Germany.

Prysmian's local subsidiaries have filed legal challenges against the search and seizure orders under which the German authorities carried out inspections at their offices and seized company documents.

In December 2024, the Italian Antitrust Authority carried out an inspection at the offices of one of the Group's Italian subsidiaries. The inspection was conducted as part of an Italian Antitrust Authority investigation into a possible anti -competitive car tel aimed at coordinating prices and conditions of sale in the Italian low -voltage copper cable market.

In October 2025, the Hungarian antitrust authority carried out an inspection at the offices of the Group's local subsidiary. The inspection was conducted as part of the authority's investigation into a possible cartel affecting competition in a number of t enders to supply low - and/or medium -

voltage cables.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

80 Given the high degree of uncertainty as to the timing and outcome of these ongoing investigations, the Directors are currently unable to estimate the related risk which, in case of an adverse outcome of said investigations, as mentioned in the section “Risk related to non -

compliance with Antitrust laws, rules and regulations” of the 2025 Integrated Annual Report, could have a material adverse effect on Prysmian’s business, financial conditions, and/or results.

Antitrust - Claims for damages ensuing from Other investigations In February 2020, a writ of summons was served on a number of cable manufacturers, including Prysmian's Spanish subsidiaries, under which companies belonging to the Iberdrola Group claimed compensation for damages supposedly suffered as a result of the alleged anti -

competitive practices sanctioned by the Spanish ant itrust authority in its decision of November 24, 2017. The proceedings, pending before the Court of Barcelona, were settled by a ruling on July 28, 2025, which dismissed all of Iberdrola's claims for damages. Iberdrola appeal ed this ruling in September 202 5.

In July 2020, a writ of summons was served on a number of cable manufacturers, including Prysmian's Spanish subsidiaries, under which companies belonging to the Endesa Group claimed compensation for damages supposedly suffered as a result of the alleged an ti-competitive practices sanctioned by the Spanish antitrust authority in its decision of November 24, 2017. The proceedings are pending before the Court of Barcelona.

During 2022, other third -party lawsuits were filed against certain cable manufacturers, including Prysmian's Spanish subsidiaries, to obtain compensation for damages supposedly suffered as a result of the alleged anti -competitive conduct sanctioned by the Spanish antitrust authority in its decision of November 24, 2017. The proceedings are pending before the Court of Barcelona.

Taking into account the circumstances described above and the developments in the related proceedings, and with the support of their legal advisors and maintaining consistency in the valuation criteria, the Directors have recognized provisions in the financial statements that they consider adequate to cover the potential liabilities associated with the matters described .

With reference to the above matters, a number of Prysmian companies have received various notices in which third parties have claimed compensation for damages, albeit not quantified, allegedly suffered as a result of Prysmian's involvement in the anti -comp etitive practices sanctioned by the European Commission and the antitrust authorities in Brazil and Spain.

Based on the information currently available and believing it unlikely that these potential or unquantifiable liabilities will arise, the Directors have decided not to make any provision.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

81 Despite the uncertainty of the outcome of the pending investigations and legal actions, the amount of the above -mentioned provision s is considered to represent the best estimate of the liability based on the information available to date and the above developments in the proceedings.

14. EMPLOYEE BENEFIT OBLIGATIONS

Details are as follows:

(€m)

June 30, 2026 December 31, 2025 Pension plans 216 222 Italian statutory severance benefit 10 10 Medical benefit plans 11 11 Termination and other benefits 34 36 Total 271 279

Movements in employee benefit obligations have had an overall impact of €13 million on the income statement of the period , of which €7 million classified in personnel costs and €6 million in finance costs.

The following table shows the average headcount for the period and at period -end headcount, calculated using the full-time equivalent method:

Average number Closing number H1 2026 H1 2025 June 30, 2026 December 31, 2025 34,354 33,726 34,591 34,368

15. FINANCE COSTS AND INCOME

Finance costs are detailed as follows:

(€m)

H1 202 6 H1 202 5

Interest on loans 55 64 Interest on €850m bond 15 15 Interest on €650m bond 13 13 Interest on lease liabilities 10 8 Amortisation of bank and financial fees and other expenses 3 6 Employee benefit interest costs net of interest on plan assets 6 6 Interest Rate Swaps 2 -

Other bank interest 3 10 Costs for undrawn credit lines 1 1 Sundry bank fees 18 17 Other 6 8 Finance costs 132 148 Net losses on forex derivatives - 6 Losses on derivatives - 6 Forex losses 249 549 Total finance costs 381 703

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

82 Finance income is detailed as follows:

(€m)

H1 202 6 H1 202 5

Interest income from banks and other financial institutions 14 12 Interest Rate Swaps - 5 Other finance income 14 8 Finance income 28 25 Net gains on forex derivatives 7 -

Gains on derivatives 7 -

Forex gains 229 533 Total finance income 264 558

16. TAXES

Taxes have been estimated on the basis of the expected average tax rate for the full year. The tax charge for the first six months of 2026 is € 205 million versus € 161 million in the prior year period .

The tax rate for the first six months of 2026 is approximately 26.0%, in line with the prior year period. Based on the assessment of the Group’s exposure to the Pillar Two rules, no material tax liability is expected.

17. EARNINGS/(LOSS) PER SHARE

Both basic and diluted earnings/(loss) per share were determined by dividing net profit attributable to owners of the parent for the periods presented by the average number of the Company’s outstanding shares, as better described below. Net profit attribut able to owners of the parent was adjusted to take into account the remuneration of the perpetual hybrid bond.

Basic and diluted earnings/(loss) per share are affected by “deferred shares”, “matching shares” and “performance shares” relating to the 2023 –2025 long ‑term incentive plan, as well as by the “loyalty shares ” of 2024 and the 2025 shares under the BE IN long ‑term incentive plan, as these vested in full as of the Annual General Meeting of April 16, 2026 .

Diluted earnings/(loss) per share is affected by “ loyalty shares” 2025, but is not impacted by “deferred shares”, “matching shares” and “performance shares” under the 2026 –2028 long ‑term incentive plan, as they are currently out of the money.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

83

(€m)

H1 202 6 H1 202 5 (**)

Net profit/(loss) attributable to owners of the parent (*) 544 420 Weighted average number of ordinary shares (thousands) 292,245 286,284 Basic earnings per share ( €) 1.86 1.46 Net profit/(loss) attributable to owners of the parent for purposes of diluted earnings per share (*) 544 420 Weighted average number of ordinary shares (thousands) 292,245 286,284

Adjustments for:

Dilution from incremental shares arising from exercise of share -

based payment plans and employee share purchase plans (thousands) 40 1,144 Weighted average number of ordinary shares to calculate diluted earnings per share (thousands) 292,285 287,618 Diluted earnings per share ( €) 1.86 1.46 (*) Net profit for the first six months has been adjusted for the interest accruing on the hybrid bond.

(**) The net profit/(loss) attributable to owners of the parent for the first six months of 2025 has been restated compared with the figures originally published, following completion of the purchase price allocation of Channel l.

18. CONTINGENT LIABILITIES

As a global operator, Prysmian is exposed to legal risks primarily, for example, in the areas of product liability and environmental, antitrust and tax rules and regulations. The outcome of pending legal action and proceedings cannot be predicted with certainty . An adverse outcome in one or more of these proceedings could result in payment of fines, damages or other costs that are not covered, or not fully covered, by insurance, which could therefore impact Prysmian's financial position and results.

As of June 30, 2026, contingent liabilities for which Prysmian has not recognised any provision for risks and charges, on the grounds that an outflow of resources is considered unlikely, but for which reliable estimates are available, amount to approximately €35 million and mainly refer to legal and tax issues.

19. RECEIVABLES FACTORING

Prysmian has factored some of its trade receivables on a non -recourse basis. Receivables factored but not yet paid by customers amounted to €419 million a s of June 30, 2026 (€202 million a s of December 31, 2025).

20. SEASONALITY

Prysmian's business entails a certain degree of seasonality with regard to revenues, which are usually higher in the second and third quarters. This is due to the fact that utilities projects in the northern hemisphere are mostly concentrated in the warmer months of the year.

Prysmian's level of debt is generally higher in the May -September period , with cash being used to fund the growth in working capital.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

84

21. RELATED PARTY TRANSACTIONS

Transactions by Prysmian SpA and its subsidiaries with associates mainly refer to:

- trade relations involving purchases and sales of raw materials and finished goods;

- services (technical, organi zational and general) provided by head office for the benefit of

Prysmian companies;

- recharge of royalties for the use of trademarks, patents and technological know -how by Prysmian companies.

All the above transactions form part of Prysmian's continuing operations.

The following tables provide a summary of transactions with other related parties in the six months ended June 30, 2026:

(€m)

June 30, 2026

Equity -

accounted

companies Compensation

of Directors,

Statutory

Auditors

and key

management

personnel Total

related

parties Total

reported

amount Related part ies % of total Equity -accounted investments 43 - 43 43 100.0% Trade receivables - - - 3,486 0.0% Other receivables - - - 707 0.0% Trade payables 8 - 8 3,595 0.2% Other payables - 1 1 1,334 0.1% Provisions for risks and charges - 8 8 790 1.0%

(€m)

December 31, 2025

Equity -

accounted

companies Compensation

of Directors,

Statutory

Auditors

and key

management

personnel Total

related

parties Total

reported

amount Related part ies % of total Equity -accounted investments 43 - 43 43 100.0% Trade receivables - - - 2,428 0.0% Other receivables - - - 614 0.0% Trade payables 5 - 5 2,798 0.2% Other payables - 2 2 1,081 0.2% Provisions for risks and charges - 8 8 752 1.1%

(€m)

H1 2026

Equity -

accounted

companies Compensation

of Directors,

Statutory

Auditors

and key

management

personnel Total

related

parties Total

reported

amount Related

part ies

% of total Revenue s - - _ 11,239 0.0% Other income - - - 86 0.0% Raw materials, consumables and supplies - - - (7,553) 0.0% Personnel costs - (7) (7) (1,183) 0.7% Other expenses (3) - (3) (1,665) 0.2% Share of net profit/(loss) of equity -

accounted companies 3 - 3 3 100.0%

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

85

(€m)

H1 2025

Equity -

accounted

companies Compensation

of Directors,

Statutory

Auditors

and key

management

personnel Total

related

parties Total

reported

amount Related

part ies

% of total Revenue s 2 - 2 9,654 0.0% Other income - - - 71 0.0% Raw materials, consumables and supplies - - - (6,249) 0.0% Personnel costs - (8) (8) (1,087) 0.7% Other expenses (3) - (3) (1,537) 0.2% Share of net profit/(loss) of equity -

accounted companies 13 - 13 13 100.0%

Transactions with associates Trade and other payables refer to goods and services provided in relation to Prysmian's ordinary business. Trade and other receivables refer to transactions carried out in the ordinary course of Prysmian's business.

Compensation of Directors, Statutory Auditors and Key Management Personnel Compensation paid to Directors, Statutory Auditors and key management personnel totals €7 million a s of June 30, 2026 (€8 million in the first six months of 202 5).

22. ATYPICAL AND/OR UNUSUAL TRANSACTIONS

In accordance with the disclosures required by CONSOB Communication DEM/6064293 dated 28 July 2006, no atypical and/or unusual transactions were carried out during the first half of 202 6.

23. COMMITMENTS

Contractual commitments, given to third parties a s of June 30, 2026 and not yet reflected in the financial statements, amount to €467 million for Property, plant and equipment ( €420 million a s of December 31, 2025) and €7 million for Intangible assets ( €4 million a s of December 31, 2025).

As of June 30, 2026, there were no outstanding loans or guarantees by the Parent Company or its subsidiaries to any of the Directors, senior managers or Statutory Auditors.

24. DIVIDEND S

On April 16, 2026, the Annual General Meeting of Prysmian SpA ’s shareholders approved the 2025 financial statements and payment of a gross dividend of €0.90 per share, amounting to a total of €258 million. The dividend was pa yable from April 22, 2026, with a record date of April 21, 2026 and ex -dividend date of April 20, 2026.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

86

25. STATEMENT OF CASH FLOWS

The cash outflow absorbed by the increase in net working capital amounted to €1,066 million.

Consequently, after €210 million in income taxes paid and €3 million in dividends received, the net cash outflow f or operating activities for the first six months of 2026 was negative by €10 million.

Net operating investments made during the first six months of 2026 amounted to €303 million and were mainly attributable to projects aimed at expanding and streamlining production capacity. For further details, reference should be made to Note 1, Property, Plant and Equipment and Intangible Assets, in these Notes.

Cash flows generated by financing activities were affected by the drawdown of a new €75 million CDP credit facility and the disbursement of a new €100 million tranche under the EIB financing facility, as well as by dividend distributions amounting to €262 million.

In addition, net financial charges paid, after offsetting financial income received, amounted to €78 million. Th is include s a cash outflow of €29 million and a cash inflow of €27 million relating to Interest Rate Swaps (IRS).

26. FINANCIAL COVENANTS

The principal credit agreements in place at June 30, 2026, details of which are presented in Note 11. Banks and other b orrowings . They require Prysmian to comply with a series of covenants on a consolidated basis. The main covenants, classified by type, are listed below:

a) Financial covenants • Ratio between EBITDA and Net finance costs (as defined in the relevant financing agreements ) The Revolving Credit Facility of 2023 and all other loans taken out after June 2023 are excluded from this requirement , described in Note 1 1. This covenant does not apply as long as Prysmian S.p.A. maintains a long -term "Investment Grade" credit rating.

• Ratio between Net Financial Debt and EBITDA (as defined in the relevant agreements).

The covenants contained in the relevant loan agreements are as follows:

EBITDA /

Net finance

costs (1)

not less than: Net financial debt /

EBITDA (1)

not more than:

4.00x 3.00x

(1) The ratios are calculated on the basis of the definitions contained in the relevant loan agreements. The Net Financial Debt/EBITDA ratio may rise to as much as 3.5 following extraordinary transactions such as acquisitions, no more than three times, including on non -consecutive occasions.

b) Non -financial covenants A number of non -financial covenants have been established in line with market practice s applying to transactions of a similar nature and size. These covenants involve restrictions on the grant of secured guarantees to third parties and on amendments to the Company's by -laws.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

87 Events of default The main events of default are as follows:

• default on loan repayment obligations;

• breach of financial covenants;

• breach of some of the non -financial covenants;

• declaration of bankruptcy by certain Group companies or their involvement in other

insolvency proceedings;

• issuance of particularly significant court orders;

• occurrence of events that may adversely and materially affect the Group’s business, assets or financial conditions.

Should an event of default occur, the lenders are entitled to demand full or partial repayment of the amounts lent and not yet repaid, together with interest and any other amount due. No collateral security is required.

Actual financial ratios reported at period end, calculated at a consolidated level for Prysmian, are

as follows:

June 30, 2026 December 31, 2025 EBITDA / Net finance costs (1)(2) 9.67x 9.69x Net financial debt / EBITDA (2) 1.95x 1.61x (1) The covenant does not apply to the Revolving Credit Facility of 2023 or any of the loans taken out since June 2023, as long as Prysmian SpA maintains a long -

term "Investment Grade" credit rating.

(2) The ratios are calculated on the basis of the definitions contained in the relevant loan agreements.

The above financial ratios comply with both covenants contained in the relevant loan agreements and there are no instances of non -compliance with the financial and non -financial covenants indicated above.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

88

27. EXCHANGE RATES

The main exchange rates used to translate Condensed Consolidated Half -year Financial Statements in foreign currencies for consolidation purposes are reported below:

Closing rates Period average

at rates

06.30.2026 12.31.2025 6 months 2026 6 months 2025

Europe

Pound sterling 0.862 0.873 0.867 0.842 Swiss franc 0.922 0.931 0.918 0.941 Hungarian forint 356.300 385.150 372.259 404.572 Norwegian krone 11.311 11.843 11.171 11.661 Swedish krona 11.094 10.822 10.790 11.096 Czech koruna 24.256 24.237 24.313 25.002 Danish krone 7.474 7.469 7.472 7.461 Romanian leu 5.244 5.097 5.143 5.004 Turkish lira 53.191 50.544 51.969 40.950 Polish zloty 4.296 4.221 4.242 4.231 Russian ruble 88.647 92.094 89.262 94.962

North America

US dollar 1.139 1.175 1.167 1.093 Canadian dollar 1.622 1.609 1.607 1.540

South America

Colombian peso 3,931 4,435 4,263 4,580 Brazilian real 5.898 6.465 6.014 6.294 Argentine peso 1,688.591 1,709.625 1,650.617 1,205.056 Chilean peso 1,050.740 1,058.130 1,041.573 1,043.284 Costa Rican colón 518.199 584.234 548.191 552.490 Mexican peso 19.903 21.118 20.375 21.804 Peruvian sol 3.890 3.952 3.975 4.017

Oceania

Australian dollar 1.654 1.758 1.661 1.723 New Zealand dollar 2.014 2.038 1.987 1.883

Africa

CFA franc 655.957 655.957 655.957 655.957 Angolan kwanza 1,048.331 1,080.002 1,073.060 1,003.332 Tunisian dinar 3.362 3.395 3.379 3.353 South African rand 18.654 19.444 19.140 20.082

Asia

Chinese renminbi (Yuan) 7.731 8.226 8.007 7.924 United Arab Emirates dirham 4.184 4.315 4.284 4.013 Bahraini dinar 0.428 0.442 0.439 0.411 Hong Kong dollar 8.935 9.146 9.127 8.517 Singapore dollar 1.475 1.511 1.491 1.446 Indian rupee 107.857 105.597 108.594 94.069 Indonesian rupiah 20,399 19,641 20,073 17,963 Japanese yen 185.080 184.090 184.459 162.120 Thai baht 37.862 37.218 37.433 36.616 Philippine peso 69.911 69.266 69.963 62.376 Omani rial 0.438 0.452 0.449 0.420 Malaysian ringgit 4.654 4.768 4.645 4.780 Qatari riyal 4.147 4.277 4.246 3.978 Saudi riyal 4.273 4.406 4.375 4.098

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

89

28. EVENTS AFTER THE REPORTING PERIOD

Prysmian to accelerate data center growth in Digital Solutions On July 20, 2026 Prysmian announced that the Group aims to accelerate data center growth in Digital Solutions thanks to major capacity increase and hyperscaler agreements .

• Prysmian sign ed a 10-year agreement with Molex, a Koch Inc. company, worth up to €5.5 billion, supported by a €550 million upfront payment • €10 billion of cumulative revenues with hyperscalers and data center infrastructure providers, with up to €1.1 billion on a yearly basis from 2031 • Major expansion of fiber and optical cable production: more than doubling fiber capacity in the United States Prysmian has signed an up to €5.5 billion long -term agreement, which includes a €550 million upfront payment, with Molex, part of the large private U.S. company Koch Inc., for a period of up to ten years, for the supply of optical cables to be deployed ins ide data centers.

The deal with Molex is part of an overall set of new agreements and commercial initiatives with hyperscalers and data center infrastructure providers, foreseen to bring in an additional cumulative value of over €10 billion on an incremental basis up to 203 5, versus the 2025 baseline.

This includes up to €1.1 billion of Revenues on a yearly basis from 2031.

To support this growth, Prysmian will implement a significant expansion in capacity for optical cables and fiber, which will more than double fiber capacity in the U.S. versus the current baseline.

The capacity expansion and agreements build on Prysmian’s data center strengths in both digital and energy connections and will now bring the company’s fiber and cables into the so - called ‘inside’ data center space. This will be a driver of significant gr owth in the years ahead thanks to structural modernization cycles to enhance performance and energy efficiency, AI - driven architecture shifts and upgrades to fiber density. These long -term trends are an opportunity to utilize Prysmian’s technical know -how as a leader in fiber technology, as well as its U.S.

manufacturing footprint.

Prysmian will implement a capacity increase to extend production of optical cables and fiber – including the glass preforming stage, for plants in the U.S. and Europe. The investment, which will more than double fiber capacity in the United States, will bu ild on Prysmian’s position as one of just 3 U.S. manufacturers of fiber and optical cables, while in Europe, will support Prysmian’s position as the only major domestic player. Prysmian will allocate €1.25 billion up to 2031 for this capacity increase, and as a result of the investment over 1000 jobs will be created worldwide, 600 of which will be in the U.S..

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

90

Prysmian signs a new €1.5 billion term loan On July 24, 2026, Prysmian entered into a new €1.5 billion credit agreement with a syndicate of leading Italian and international banks. The facility will be disbursed in a single drawdown on July 31, 2026, and has a five -year maturity, with extension options to six years after the first year and to seven years after the second year. Repayment is scheduled as a single bullet payment at mat urity.

On July 31, 2026 with the disbursement of the above -mentioned financing, the 2022 Term Loan will be repaid and terminated.

**********

Milan, July 29, 2026

ON BEHALF OF THE BOARD OF DIRECTORS

THE CHAIR

Francesco Gori

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

91

SCOPE OF CONSOLIDATION – APPENDIX A

The following companies have been consolidated line -by-line:

Name Registered office Currency Share Capital % interest Held by

Europe

Austria

Prysmian OEKW GmbH Wien Euro 2,053,008 100.00% Prysmian Cavi e Sistemi Srl

Belgium

Draka Belgium N.V. Leuven Euro 61,973 98.52% Draka Holding B.V.

1.48% Draka Kabel B.V.

Denmark

Prysmian Group Denmark A/S Albertslund Danish Krone 40,001,000 100.00% Draka Holding B.V.

Estonia

Prysmian Group Baltics AS Keila Euro 1,664,000 100.00% Prysmian Group Finland OY

Finland

Prysmian Group Finland OY Kirkkonummi Euro 100,000 77.7972% Prysmian Cavi e Sistemi Srl 19.9301% Draka Holding B.V.

2.2727% Draka Comteq B.V.

France

Prysmian Cables et Systèmes France S.A.S. Sens Euro 136,800,000 100.00% Draka France S.A.S.

Draka Comteq France S.A.S. Paron Euro 246,554,316 100.00% Draka France S.A.S.

Draka Fileca S.A.S. Sainte Geneviève Euro 5,439,700 100.00% Draka France S.A.S.

Draka Paricable S.A.S. Montreau-Fault-Yonne Euro 5,177,985 100.00% Draka France S.A.S.

Draka France S.A.S. Montreau-Fault-Yonne Euro 551,797,665 59.88% Draka Holding B.V.

40.12% Prysmian Cavi e Sistemi Srl EHC France s.a.r.l. Sainte Geneviève Euro 310,717 100.00% EHC Global Inc.

Germany

Prysmian Kabel und Systeme GmbH Berlin Euro 15,000,000 93.75% Draka Deutschland GmbH 6.25% Prysmian SpA Prysmian Cable Industrial GmbH Berlin Euro 25,000 100.00% Prysmian Cavi e Sistemi Srl Prysmian Unterstuetzungseinrichtung Lynen GmbH Eschweiler Deutsche Mark 50,000 100.00% Prysmian Kabel und Systeme GmbH Draka Comteq Berlin GmbH & Co. KG Berlin Deutsche Mark 46,000,000 50.10% Prysmian Netherlands B.V.

Euro 1 49.90% Draka Deutschland GmbH Draka Comteq Germany Verwaltungs GmbH Koln Euro 25,000 100.00% Draka Comteq B.V.

Draka Comteq Germany GmbH & Co. KG Koln Euro 5,000,000 100.00% Draka Comteq B.V.

Draka Deutschland Erste Beteiligungs GmbH Wuppertal Euro 25,000 100.00% Draka Holding B.V.

Draka Deutschland GmbH Wuppertal Euro 25,000 90.00% Draka Deutschland Erste Beteiligungs GmbH 10.00% Draka Deutschland Zweite Beteiligungs GmbH Draka Deutschland Verwaltungs GmbH Wuppertal Deutsche Mark 50,000 100.00% Prysmian Kabel und Systeme GmbH Draka Deutschland Zweite Beteiligungs GmbH Wuppertal Euro 25,000 100.00% Prysmian Netherlands B.V.

Prysmian Projects Germany GmbH Nordenham Euro 25,000 100.00% Draka Deutschland GmbH Höhn GmbH Wuppertal Deutsche Mark 1,000,000 100.00% Draka Deutschland GmbH Kaiser Kabel GmbH Wuppertal Deutsche Mark 9,000,000 100.00% Draka Deutschland GmbH NKF Holding (Deutschland) GmbH i.L Wuppertal Euro 25,000 100.00% Prysmian Netherlands B.V.

Norddeutsche Seekabelwerke GmbH Nordenham Euro 50,025,000 100.00% Grupo General Cable Sistemas, S.L.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

92

Name Registered office Currency Share Capital % interest Held by U.K.

Prysmian Cables & Systems Ltd. Eastleigh British Pound 113,901,120 100.00% Prysmian UK Group Ltd.

Prysmian Construction Company Ltd. Eastleigh British Pound 1 100.00% Prysmian Cables & Systems Ltd.

Prysmian Cables (2000) Ltd. Eastleigh British Pound 1 100.00% Prysmian Cables & Systems Ltd.

Cable Makers Properties & Services Ltd. Esher British Pound 39 63.84% Prysmian Cables & Systems Ltd.

36.16% Non-controlling interests Comergy Ltd. Eastleigh British Pound 1 100.00% Prysmian Cavi e Sistemi Srl Prysmian Pension Scheme Trustee Ltd. Eastleigh British Pound 1 100.00% Prysmian SpA Prysmian UK Group Ltd. Eastleigh British Pound 70,011,000 100.00% Draka Holding B.V.

Draka Comteq UK Ltd. Eastleigh British Pound 14,000,002 100.00% Prysmian UK Group Ltd.

Draka UK Ltd. Eastleigh British Pound 1 100.00% Prysmian UK Group Ltd.

Prysmian PowerLink Services Ltd. Eastleigh British Pound 46,000,100 100.00% Prysmian UK Group Ltd.

Escalator Handrail (UK) Ltd. Eastleigh British Pound 2 100.00% EHC Global Inc.

A.C. Egerton (Holdings) Ltd. Dartford British Pound 55,477 100.00% Channell Commercial Corporation Channell Ltd. Dartford British Pound 100,000 100.00% A.C. Egerton (Holdings) Channell Commercial Europe Ltd. Dartford British Pound 150,000 100.00% Channel Commercial Corporation Prysmian Repeaters Limited Eastleigh British Pound 1,000 80.10% Draka Holding B.V.

19.90% Non-controlling interests

Italy

Prysmian Cavi e Sistemi Srl Milan Euro 50,000,000 100.00% Prysmian SpA Prysmian Cavi e Sistemi Italia Srl Milan Euro 77,143,249 100.00% Prysmian SpA Prysmian Treasury Srl Milan Euro 80,000,000 100.00% Prysmian SpA Prysmian PowerLink Srl Milan Euro 200,000,000 100.00% Prysmian SpA Fibre Ottiche Sud - F.O.S. Srl Milan Euro 47,700,000 100.00% Prysmian SpA Electronic and Optical Sensing Solutions Srl Milan Euro 5,000,000 100.00% Prysmian SpA Prysmian Riassicurazioni SpA Milan Euro 30,000,000 100.00% Prysmian SpA Alesea Srl Milan Euro 50,000 85.00% Draka Holding B.V.

15.00% Terzi

Norway

Prysmian Group Norge AS Drammen Norwegian Krone 22,500,000 100.00% Draka Holding B.V.

The Netherlands

Draka Comteq B.V. Amsterdam Euro 1,000,000 100.00% Draka Holding B.V.

Draka Comteq Fibre B.V. Eindhoven Euro 18,000 100.00% Prysmian Netherlands B.V.

Draka Holding B.V. Amsterdam Euro 52,229,321 100.00% Prysmian SpA Draka Kabel B.V. Amsterdam Euro 2,277,977 100.00% Prysmian Netherlands B.V.

Donne Draad B.V. Nieuw Bergen Euro 28,134 100.00% Prysmian Netherlands B.V.

NKF Vastgoed I B.V. Delft Euro 18,151 99.00% Draka Holding B.V.

1.00% Prysmian Netherlands B.V.

NKF Vastgoed III B.V. Delft Euro 18,151 99.00% Draka Deutschland GmbH 1.00% Prysmian Netherlands B.V.

Prysmian Netherlands B.V. Delft Euro 1 100.00% Draka Holding B.V.

Poland

Prysmian Poland sp. z o.o. Sokolów Polish Zloty 394,000 100.00% Draka Holding B.V.

Portugal

Prysmian Celcat, S.A. Pero Pinheiro Euro 13,500,000 100.00% Draka Holding B.V.

Czech Republic

Prysmian Kabely, s.r.o. Velké Meziříčí Czech Koruna 255,000,000 100.00% Draka Holding B.V.

Romania

Prysmian Cabluri Si Sisteme S.A. Slatina Leu rumeno 403,850,920 99.99987% Draka Holding B.V.

0.00013% Prysmian Cavi e Sistemi Srl

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

93

Name Registered office Currency Share Capital % interest Held by

Russia

Limited Liability Company Prysmian RUS Rybinsk city Russian Rouble 230,000,000 99.00% Draka Holding B.V.

1.00% Prysmian Cavi e Sistemi Srl Limited Liability Company "Rybinskelektrokabel" Rybinsk city Russian Rouble 90,312,000 100.00% Limited Liability Company Prysmian RUS

Slovakia

Prysmian Kablo s.r.o. Bratislava Euro 21,246,001 99.995% Prysmian Cavi e Sistemi Srl 0.005% Prysmian SpA

Spain

Prysmian Cables Spain, S.A. (Sociedad Unipersonal) Vilanova I la Geltrù Euro 58,178,234 100.00% Draka Holding B.V.

GC Latin America Holdings, S.L. Abrera Euro 151,042,030 100.00% General Cable Holdings (Spain), S.L.

General Cable Holdings (Spain), S.L. Abrera Euro 138,304,698 100.00% Prysmian Cables and Systems USA, LLC Grupo General Cable Sistemas, S.L. Abrera Euro 22,116,019 100.00% Draka Holding B.V.

EHC Spain and Portugal, S.L. Sevilla Euro 3,897,315 100.00% EHC Global Inc.

ACSM Shipping CO, Sociedad Limitas Vigo Euro 801,099 100.00% Draka Holding B.V.

Sweden

Prysmian Group Sverige AB Nässjö Swedish Krona 100,000 100.00% Draka Holding B.V.

Switzerland

EOSS S.A. Morges Swiss Franc 11,811,719 100.00% Electronic and Optical Sensing Solutions Srl

Turkey

Turk Prysmian Kablo Ve Sistemleri A.S. Mudanya Turkish new Lira 216,733,652 83.7464% Draka Holding B.V.

0,4614% Turk Prysmian Kablo Ve Sistemleri A.S.

15.7922% Non-controlling interests

Hungary

Prysmian MKM Magyar Kabel Muvek Kft. Budapest Hungarian Forint 5,000,000,000 100.00% Prysmian Cavi e Sistemi Srl

North America

Canada

Prysmian Cables and Systems Canada Ltd. New Brunswick Canadian dollar 1,000,000 100.00% Draka Holding B.V.

Draka Elevator Products Incorporated New Brunswick Canadian dollar n/a 100.00% Prysmian Cables and Systems USA, LLC General Cable Company Ltd. Halifax Canadian dollar 295,768 100.00% Prysmian Cables and Systems USA, LLC EHC Global Inc. Oshawa Canadian dollar 1,511,769 100.00% Prysmian Cables and Systems Canada Ltd.

EHC Canada Inc. Oshawa Canadian dollar 39,409 100.00% EHC Global Inc.

Channell Commercial Canada Inc. Missisagua Canadian dollar 350,200 100.00% Channell Commercial Corporation

Dominican Repuplic

General Cable Caribbean, S.R.L Santa Domingo Oeste Dominican peso 2,100,000 100.00% Prysmian Cables and Systems USA, LLC U.S.A.

Prysmian Cables and Systems (US) Inc. Carson City US dollar 330,517,608 100.00% Draka Holding B.V.

Prysmian Cables and Systems USA, LLC Wilmington US dollar 10 100.00% Prysmian Cables and Systems (US) Inc.

Prysmian Construction Services Inc. Wilmington US dollar 1,000 100.00% Prysmian Cables and Systems USA, LLC Draka Elevator Products, Inc. Boston US dollar 1 100.00% Prysmian Cables and Systems USA, LLC Draka Transport USA, LLC Boston US dollar - 100.00% Prysmian Cables and Systems USA, LLC General Cable Technologies Corporation Wilmington US dollar 1,884 100.00% Prysmian Cables and Systems USA, LLC Phelps Dodge Enfield Corporation Wilmington US dollar 800,000 100.00% Prysmian Cables and Systems USA, LLC Phelps Dodge National Cables Corporation New York US dollar 10 100.00% Prysmian Cables and Systems USA, LLC EHC USA Inc. Oshawa US dollar 1 100.00% EHC Global Inc.

Prysmian Group Speciality Cables, LLC Wilmington US dollar 100.00% Prysmian Cables and Systems USA, LLC Encore Wire Corporation Wilmington US dollar 1 100.00% Prysmian Cables and Systems USA, LLC Channell Commercial Corporation Wilmington US dollar 100.00% Prysmian Cables and Systems USA, LLC CC Holdings Inc. Murrieta US dollar 100.00% Channell Commercial Corporation

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

94

Name Registered office Currency Share Capital % interest Held by

Central/South America

Argentina

Prysmian Energia Cables y Sistemas de Argentina S.A. Buenos Aires Argentine peso 993,992,914 97.75% Draka Holding B.V.

2.01% Prysmian Cavi e Sistemi Srl 0.13% Non-controlling interests 0.11% Prysmian Cabos e Sistemas do Brasil S.A.

Brazil

Prysmian Cabos e Sistemas do Brasil S.A. Sorocaba Brazilian real 910,044,391 94.700% Prysmian Cavi e Sistemi Srl 0.020% Prysmian SpA 1.100% Draka Holding B.V.

4.180% Draka Comteq B.V.

Chile

Cobre Cerrillos S.A. Cerrillos US dollar 74,574,400 99.80% General Cable Holdings (Spain), S.L.

0.20% Non-controlling interests

Colombia

Productora de Cables Procables S.A.S. Bogotà Colombian peso 1,902,964,285 99.96% GC Latin America Holdings, S.L.

0.04% Prysmian Cables and Systems USA, LLC

Costa Rica

Conducen, Srl Heredia Costa Rican colón 1,845,117,800 100.00% GC Latin America Holdings, S.L.

Ecuador

Cables Electricos Ecuatorianos Cablec S.A.S Quito US dollar 243,957 67.14134% General Cable Holdings (Spain), S.L.

32.504909% Cables Electricos Ecuatorianos Cablec S.A.S 0.355751% Non-controlling interests

Honduras

Electroconductores de Honduras, S.A. de C.V. Tegucigalpa Honduran lempira 3,436,400 59.39% General Cable Holdings (Spain), S.L.

40.61% GC Latin America Holdings, S.L.

Mexico

Draka Durango S. de R.L. de C.V. Durango Mexican peso 163,471,787 99.996% Draka Mexico Holdings S.A. de C.V.

0.004% Draka Holding B.V.

Draka Mexico Holdings S.A. de C.V. Durango Mexican peso 57,036,501 99.999998% Draka Holding B.V.

0.000002% Draka Comteq B.V.

Prysmian Cables y Sistemas de Mexico S. de R. L. de C. V. Durango Mexican peso 173,050,500 99.9983% Draka Holding B.V.

0.0017% Draka Mexico Holdings S.A. de C.V.

General Cable de Mexico, S.A de C.V. Tetla Mexican peso 1,329,621,471 80.41733609% Prysmian Cables and Systems USA, LLC 19.58266361% Conducen, Srl 0.00000030% General Cable Technologies Corporation General de Cable de Mexico del Norte, S.A. de C.V. Piedras Negras Mexican peso 10,000 99.80% General Cable Technologies Corporation Mexican peso 0.20% Prysmian Cables and Systems USA, LLC Servicios Latinoamericanos GC, S.A. de C.V. Puebla Mexican peso 50,000 99.998% General Cable de Mexico, S.A de C.V.

0.002% General Cable Technologies Corporation Comercializadora Channell Limited, S. de R.L. de C.V. Mexico City Mexican peso 3,000 10.000% Channell Commercial Corporation 90.000% Channell Ltd.

Perù

Prysmian Peru S.A.CSantiago de Surco (Lima) Peruvian nuevo sol 90,327,868 99.99999% GC Latin America Holdings, S.L.

0.00001% Cobre Cerrillos S.A.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

95

Name Registered office Currency Share Capital % interest Held by

Africa

Angola

General Cable Condel, Cabos de Energia e Telecomunicaçoes SA Luanda Angolan kwanza 20,000,000 99.80% Prysmian Celcat, S.A.

0.20% Non-controlling interests

Ivory Coast

SICABLE - Sociète Ivoirienne de Cables S.A. Abidjan CFA franc 740,000,000 51.00% Prysmian Cables et Systèmes France S.A.S.

49.00% Non-controlling interests

Tunisia

Auto Cables Tunisie S.A. Grombalia Tunisian dinar 4,050,000 50.998% Prysmian Cables et Systèmes France S.A.S.

49.002% Non-controlling interests Prysmian Cables and Systems Tunisia S.A. Menzel Bouzelfa Tunisian dinar 2,700,000 99.9741% Prysmian Cables et Systemes France S.A.S.

0.0037% Draka Comteq France S.A.S.

0.0037% Draka Holding B.V.

0.0037% Draka Fileca S.A.S.

0.0037% Draka France S.A.S.

0.0037% Prysmian Cavi e Sistemi Srl 0.0074% Non-controlling interests

Oceania

Australia

Prysmian Australia Pty Ltd. Liverpool Australian dollar 56,485,736 100.00% Prysmian Cavi e Sistemi Srl Channell Pty Ltd. Barangaroo Australian dollar 2,244,201 82.19% Channell Commercial Corporation 17.81% A.C. Egerton (Holdings) Ltd.

New Zeland

Prysmian New Zealand Ltd. Auckland New Zealand dollar 10,000 100.00% Prysmian Australia Pty Ltd.

Asia

Saudi Arabia

Prysmian Powerlink Saudi LLC Al Khoabar Saudi Arabian riyal 500,000 95.00% Prysmian PowerLink Srl 5.00% Non-controlling interests

China

Prysmian Tianjin Cables Co. Ltd. Tianjin US dollar 36,790,000 67.00% Prysmian (China) Investment Company Ltd.

33.00% Non-controlling interests Prysmian Cable (Shanghai) Co. Ltd. Shanghai Chinese renminbi (yuan) 34,867,510 100.00% Prysmian (China) Investment Company Ltd.

Prysmian Wuxi Cable Co. Ltd. Yixing (Jiangsu Province) Chinese renminbi (yuan) 240,863,720 100.00% Prysmian (China) Investment Company Ltd.

Prysmian Hong Kong Holding Ltd. Hong Kong Euro 72,000,000 100.00% Prysmian Cavi e Sistemi Srl Prysmian (China) Investment Company Ltd. Beijing Euro 74,152,961 100.00% Prysmian Hong Kong Holding Ltd.

Nantong Haixun Draka Elevator Products Co. LTD Nantong US dollar 2,400,000 75.00% Draka Elevator Products, Inc.

25.00% Non-controlling interests Nantong Zhongyao Draka Elevator Products Co. LTD Nantong US dollar 2,000,000 60.00% Draka Elevator Products, Inc.

40.00% Non-controlling interests Suzhou Draka Cable Co. Ltd. Suzhou Chinese renminbi (yuan) 304,500,000 100.00% Draka Cableteq Asia Pacific Holding Pte Ltd.

Prysmian Technology Jiangsu Co. Ltd. Yixing Chinese renminbi (yuan) 495,323,466 100.00% Prysmian (China) Investment Company Ltd.

EHC Escalator Handrail (Shanghai) Co. Ltd. Shanghai US dollar 2,100,000 100.00% EHC Global Inc.

EHC Engineered Polymer (Shanghai) Co. Ltd. Shanghai US dollar 1,600,000 100.00% EHC Global Inc.

EHC Lift Components (Shanghai) Co. Ltd. Shanghai US dollar 200,000 100.00% EHC Global Inc.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

96

Name Registered office Currency Share Capital % interest Held by

Philippines

Draka Philippines Inc. Cebu Philippine peso 253,652,000 99.9999975% Draka Holding B.V.

0.0000025% Non-controlling interests Prysmian Philippines, Incorporated Makati City Philippine peso 11,800,000 99.9999746% Draka Holding B.V.

0.0000254% Non-controlling interests

India

Associated Cables Pvt. Ltd. Mumbai Indian rupee 183,785,700 99.999946% Oman Cables Industry (SAOG) 0.000054% Non-controlling interests Jaguar Communication Consultancy Services Private Ltd. Mumbai Indian rupee 157,388,218 99.99999% Prysmian Cavi e Sistemi Srl 0,000001% Prysmian SpA

Indonesia

PT.Prysmian Cables Indonesia Cikampek US dollar 67,300,000 99.48% Draka Holding B.V.

0.52% Prysmian Cavi e Sistemi Srl

Malaysia

Sindutch Cable Manufacturer Sdn Bhd MalaccaMalaysian ringgit 500,000 100.00% Draka Cableteq Asia Pacific Holding Pte Ltd.

Draka (Malaysia) Sdn Bhd MalaccaMalaysian ringgit 8,000,002 100.00% Cable Supply and Consulting Company Pte Ltd.

Oman

Oman Cables Industry (SAOG) Al Rusayl Omani riyal 8,970,000 51.17% Draka Holding B.V.

48.83% Non-controlling interests Oman Aluminium Processing Industries (SPC) Sohar Omani riyal 4,366,000 100.00% Oman Cables Industry (SAOG)

Singapore

Prysmian Cables Asia-Pacific Pte Ltd. Singapore Singapore dollar 174,324,290 100.00% Draka Holding B.V.

Draka Cableteq Asia Pacific Holding Pte Ltd. Singapore Singapore dollar 28,630,504 100.00% Draka Holding B.V.

Singapore Cables Manufacturers Pte Ltd. Singapore Singapore dollar 1,500,000 100.00% Draka Cableteq Asia Pacific Holding Pte Ltd.

Cable Supply and Consulting Company Private Limited Singapore Singapore dollar 50,000 100.00% Draka Cableteq Asia Pacific Holding Pte Ltd.

Thailand

MCI-Draka Cable Co. Ltd. Bangkok Thai baht 435,900,000 99.999931% Draka Cableteq Asia Pacific Holding Pte Ltd.

0.000023% Draka (Malaysia) Sdn Bhd 0.000023% Sindutch Cable Manufacturer Sdn Bhd 0.000023% Singapore Cables Manufacturers Pte Ltd.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

97 The following companies have been accounted for using the equity method:

Name Registered office Currency Share Capital % interest Held by

Europe

Germany

Kabeltrommel GmbH & Co.KG Troisdorf Euro 10,225,837.65 43.18% Prysmian Kabel und Systeme GmbH 1.75% Norddeutsche Seekabelwerke GmbH 55.07% Non-controlling interests Kabeltrommel GmbH Troisdorf Deutsche mark 51,000 41.18% Prysmian Kabel und Systeme GmbH 5.82% Norddeutsche Seekabelwerke GmbH 53.00% Non-controlling interests Nostag GmbH & Co. KG Oldenburg Euro 540,000 33.00% Norddeutsche Seekabelwerke GmbH 67.00% Non-controlling interests

Russia

Elkat Ltd. Moscow Russian ruble 10,000 40.00% Prysmian Group Finland OY 60.00% Non-controlling interests

Central/South America

Chile

Colada Continua Chilena S.A. Quilicura (Santiago) Chile peso 100 41.00% Cobre Cerrillos S.A.

59.00% Non-controlling interests

Asia

China

Yangtze Optical Fibre and Cable (Shanghai) Co. Ltd. Shanghai Chinese renminbi (yuan) 100,300,000 25.00% Draka Comteq B.V.

Malaysia

Power Cables Malaysia Sdn Bhd Selangor Darul Eshan Malaysian ringgit 18,000,000 40.00% Draka Holding B.V.

60.00% Non-controlling interests

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

98 List of unconsolidated other investments at fair value through other comprehensive income:

Name Held by

India

Ravin Cables Limited 51.00% Prysmian Cavi e Sistemi Srl 49.00% Non-controlling interests United Arab Emirates Power Plus Cable CO. LLC 49.00% Ravin Cables Limited 51.00% Non-controlling interests% interest

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

99

CERTIFICATION OF THE HALF -YEAR CONDENSED

CONSOLIDATED FINANCIAL STATEMENTS PURSUANT TO

ART. 81 -TER OF CONSOB REGULATION 11971 DATED 14 MAY

1999 AS AMENDED

1. The undersigned Massimo Battaini, as Chief Executive Officer, and Stefano Invernici and Alessandro Brunetti, as managers responsible for preparing the financial reports of Prysmian S.p.A., certify, also taking account of the provisions of paragraphs 3 and 4, art. 154 -bis of Italian Legislative Decree 58 dated 24 February 1998, that during the first half of 202 6 the accounting and administrative processes for preparing the half -year condensed consolidated financial

statements:

- have been adequate in relation to the business's characteristics and

- have been effectively applied.

2. The adequacy of the accounting and administrative processes for preparing the half -year condensed consolidated financial statements at June 30, 2026 has been evaluated on the basis of a procedure established by Prysmian in compliance with the internal control framework published by the Committee of Sponsoring Organizations of the Treadway Commission, which represents the generally accepted standard mo del internationally.

It is nonetheless reported that:

- during the first half of 202 6, some Prysmian companies were involved in the information system changeover project. The process of fine -tuning the new system's operating and accounting functions is still in progress for some of them; in any case, the system of controls in place ensures uniformity with the Group's system of procedures and controls.

3. It is also certified that:

3.1 The half -year condensed consolidated financial statements at June 30, 2026:

a) have been prepared in accordance with applicable international accounting standards recognised by the European Union under Regulation (EC) 1606/2002 of the European Parliament and Council dated 19 July 2002;

b) correspond to the underlying accounting records and books of account;

c) are able to provide a true and fair view of the issuer's statement of financial position and results of operations and of the group of companies included in the consolidation.

PRYSMIAN | CONDENSED CONSOLIDATED HALF -YEAR FINANCIAL STATEMENTS

100 3.2 The interim directors' report contains a fair review of important events that took place in the first six months of the year and their impact on the half -year condensed consolidated financial statements, together with a description of the main risks and u ncertainties in the remaining six months of the year. The financial report at June 30, 2026 also contains a fair review of the disclosures about significant related party transactions.

Milan, July 29, 2026

Chief Executive Officer Managers responsible for preparing company financial reports Massimo Battaini Stefano Invernici Alessandro Brunetti

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

101

Audit Report

Review report on the consolidated condensed interim financial

statements

To the Shareholders of

Prysmian SpA

Foreword

We have reviewed the accompanying consolidated condensed interim financial statements of Prysmian SpA (the “Company”) and subsidiaries (Prysmian Group ) as of 30 June 2026 , comprising the statement of financial position, the income statement, the other comprehensive income, the statement of changes in equity, the cashflows and the explanatory notes . The directors of Prysmian SpA are responsible for the preparation of the consolidated condensed interim financ ial statements in accordance with the accounting standard IAS 34 as issued by the International Accounting Standards Board and adopted by the European Union applicable to interim financial reporting. Our responsibility is to express a conclusion on these consolidated condensed interim financial statements based on our review.

Scope of review We conducted our work in accordance with the criteria for a review recommended by Consob in Resolution 10867 /1997. A review of consolidated condensed interim financial statements consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than a full -scope audi t conducted in accordance with International Standards on Auditing (ISA Italia) and, consequently, does not enable u s to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the consolidated condensed interim financial statements.

102

103

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the consolidated condensed interim financial statements of Prysmian Group as of 30 June 2026 are not prepared, in all material respects, in accordance with the accounting standard IAS 34 as issued by the International Accounting Standards Board and adopted by the European Union applicable to interim financial reporting .

Milan , 30 July 2026

PricewaterhouseCoopers SpA

Signed by

Stefano Bravo

(Partner)

This review report has been translated into the English language solely for the convenience of international readers. Accordingly, only the original text in Italian language is authoritative.

PRYSMIAN | PROSPETTI CONTABILI CONSOLIDATI E NOTE ILLUSTRATIVE

104