Consolidated 9M 2021 results[1]

• 2021 guidance fully confirmed with revenues up by 25%-30% and EBITDA margin over 7%

• Revenues stand at euro 4,536 million[2] up by over 28% with record production volumes at the Italian shipyards (12.3 million of working hours, +34% vs 9M 2020) exceeding pre-COVID-19 levels and in line with the expected trend of the current backlog

• EBITDA[3] at euro 330 million (+65% vs euro 200 million as at September 30, 2020), EBITDA margin at 7.3% excluding pass-through activities (vs. 5.7% as at September 30, 2020) led by the operating performance, able to offset the increase in commodity prices

• COVID-19-related extraordinary expenses at euro 30 million, mainly due to the measures to ensure personnel’s health and safety

• Operating cash flow more thancompensate Capex needs, allowing also euro 350 million repayment of construction loans

• Net Debt[4] at euro 1,059 million (euro 1,062 million as at December 31, 2020), in line with expectations for 2021 and consistent with both the delivery schedule and production volumes

Full report https://www.fincantieri.com/en/media/press-releases/2021/the-bod-approves-9m-2021-results/