MAIRE TECNIMONT GROUP OVERVIEW

Barclays CEO Energy Conference 9 September 2020 DISCLAIMER

This document has been prepared by Maire Tecnimont S.p.A. (the “Company”) solely for use in the presentation of the Maire Tecnimont Group (the “Group”).

This document does not constitute or form part of any offer or invitation to sell, or any solicitation to purchase any security issued by the Company.

The information contained and the opinions expressed in this document have not been independently verified. In particular, this document may contain forward-looking statements that are based on current estimates and assumptions made by the management of the Company to the best of its knowledge. Such forward-looking statements are subject to risks and uncertainties, the non-occurrence or occurrence of which could cause the actual results – including the financial condition and profitability of the Group – to differ materially from or be more negative than those expressed or implied by such forward- looking statements. This also applies to the forward-looking estimates and forecasts derived from third-party studies. Consequently, neither the Company nor its management can give any assurance regarding the future accuracy of the estimates of future performance set forth in this document or the actual occurrence of the predicted developments.

The data and information contained in this document are subject to variations and integrations. Although the Company reserves the right to make such variations and integrations when it deems necessary or appropriate, the Company assumes no affirmative disclosure obligation to make such variations and integrations.

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 2 SUMMARY

1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions MAIRE TECNIMONT GROUP

• Leading worldwide technology and engineering Key Indicators (FY2019) contractor focusing on oil & gas onshore €3.3 bn Revenues downstream: – €235.6 m EBITDA – Oil & Gas Refining €78.9 m* Net Cash – Fertilizers €6.3 bn Backlog

• Growing Presence in Green Chemistry and ~9,100 Employees and E&I professionals Renewable Energy €0.5 bn Current Market Cap

• Flexible Business Model spanning the entire value chain: Revenues by Business Unit (FY2019) – From Technology-to Execution–Driven 4% Business

• Strong Technology DNA - Portfolio of approx. 1,500 Patents

• Two Business Units: – Hydrocarbons – Green Energy 96% Hydrocarbons Green Energy

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 4 * Excluding €59.4 million in Non-Recourse Project Financing for the Alba Bra Hospital project (deconsolidated in 2020), including €16.6 million to be recovered in India, excluding trade receivables equivalent to a financial credit for €38.3m and Financial Leasing liabilities - IFRS 16 for €150.1m. KEY MILESTONES

Our Evolution

1899 GROUP 1937 1971 1972 Listing on the Dutch State Mines – DSM Kinetic Technology Int. - KTI Incorporation of Italian Stock More than 40 years of FIAT ENGINEERING research centre for services Exchange work to coal mines experience in process engineering 2001 1947 1988 Acquisition of FIAT Avio’s Electric Incorporation of Mannesmann acquired KTI Design & Construction Business STAMICARBON 1999 Technip acquired KTI 2004 Chemical and Fertilizer licensing Acquisition of Acquisition of KT Revenues and Fiat Engineering Acquisition of Kinetics Technology Backlog (later MAIRE ENGINEERING) Stamicarbon (formerly Technip KTI) Doubled

2018- 2005 2007 2009 2011 2015-17 2010 2013 Now Incorporation of 100% Acquisition of the Indian Reorganization Launch of the Expansion into subsidiary Tecnimont Pvt. Ltd. of New Green Chemistry MAIRE TECNIMONT (formerly TICB) Italian HQs Business and Energy 1990s Strategy Transition Tecnimont acquires 50% of the Indian Technologies company renamed as Tecnimont ICB Pvt 2005 (NextChem) Ltd (TICB) Maire Group acquires Tecnimont 1977 Creation of the first JV 1973 between ICB and Tecnimont Incorporation of New Offices TECNIMONT 1958 1963 Incorporation of ICB Pvt Ltd as Giulio Natta 1966 consulting firm in the plant sector in Incorporation of Nobel Prize for Mumbai chemistry MONTEDISON

1884 1888

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE MONTECATINI 5 Power Supply Mines and Chemicals GROUP STRUCTURE: MAIN COMPANIES

KT Met Neosia NextChem Tecnimont Kinetics Technology Stamicarbon Development Renewables

Large-scale • Refining • Fertilizers • Project • Green • Renewable contracting in: • Hydrogen and Technology Development Chemistry Energy • Oil & Gas Syngas • Urea Licensing Refining Production • Petchem • Sulphur • Fertilizers Recovery

Business Hydrocarbons Green Energy Unit

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 6 HYDROCARBONS BUSINESS UNIT: AREAS OF EXPERTISE

PETROCHEMICALS OIL & GAS REFINING FERTILIZERS

• Polyethylene (LDPE, • Refining • Urea HDPE) • Hydrogen and Syngas • Ammonia • Polypropylene Production • Nitric Acid • Propane • Sulphur Recovery Dehydrogenation Process (PDH) • Tail Gas Treatment

• Aromatics • Fire Heaters

A Market Leader in Downstream

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 7 BUSINESS MODEL IN HYDROCARBONS

Maire Tecnimont Group’s Presence Across the EPC Value Chain

TECHNOLOGY-DRIVEN EXECUTION- DRIVEN

PROJECT LIFE-CYCLE LICENSING ENGINEERING PROCUREMENT CONSTRUCTION DEVELOPMENT SUPPORT

• Startup PETROCHEMICALS • Operation Advice OIL&GAS REFINING • Maintenance

FERTILIZERS • Inspections

• Revamping

Subsidiary:

Full Involvement: From Project Development to Life-Cycle Support

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 8 GREEN ENERGY BUSINESS UNIT: AREAS OF EXPERTISE

KEY1st GREENGeneration INDUSTRIES Bio-Fuels

2nd to 3rd Generation Bio-Fuels Green Create Green (Biological Bio-Polymers For Components as High Added Value Applications Feedstock)

Plastic Waste UpCycling (Mech. Recycling)

Integrated recycling Circular (Mechanical & Chemical) Economy Improve (Re-Use Of Waste) Waste to Fuels

Waste to Chemical

Renewable Energy to Greening the Brown Chemicals & Fuels (Carbon Footprint And Emission Reduce Reduction) Renewable energies Carbon Capture And Valorization

Renewable Energies

Already a Profitable Business

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 9 GREEN ENERGY BUSINESS MODEL

OPERATOR BUSINESS MODEL NOT VIABLE (EQUITY CONTROL OF DUE TO SIGNIFICANT GREEN PRODUCTION PLANT/ PLAYER) INVESTMENT SCALE

JV PARTNER JV PARTNER OPTION NOT (EQUITY AND TECH GREEN ENERGY FEASIBLE DUE Optimal business PARTNERNSHIP WITH TO model on a case INDUSTRIAL PLAYER) BUSINESS MODEL INVESTMENT SCALE by case basis, with the objective EPC ORIGINATOR (COMMERCIAL of maximizing ORIGINATION BACKED EPC ORIGINATOR AND BY MET CAPABILITIES) LICENSOR BUSINESS return of IP MODELS TO BE Portfolio and PURSUED ONLY IF

GREEN ENERGY BUSINESS MODEL LICENSOR commercial (IP AND FEED OPERATOR / JV COMMERCIALIZATION PARTNER OPTIONS ARE opportunities TO INDUSTRIAL NOT POSSIBLE PLAYERS)

SIGNIFICANT SMALL SCALE SCALE

INVESTMENT SCALE (CAPEX REQUIRED TO DEVELOP FULL INDUSTRIAL SCALE PLANT)

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE Business Model Depending On Business Scale And Returns 10 GLOBAL & TECHNOLOGICAL LEADERSHIP PETROCHEMICALS FERTILIZERS OIL & GAS REFINING Well rooted technology orientation: market leader (#1) 54% WELL RECOGNIZED for installed capacity Market share in LEADERSHIP licensing urea plants in Licensing hydrogen technology technology and in licensing 30% (#1 worldwide)* Sulphur Recovery and Tail Market share in Gas Treatment Technology polyolefin plants*

34% WORLD CLASS Market share TRACK RECORD 50% in licensing urea in Large Gas Market share in granulation technology Treatment Plants and LDPE plants* (#2 worldwide)* Refinery Process Units

Since 1924 Since 1970 Since 1971

Polyethylene and >250 >200 172 Hydrogen and Sulphur Recovery Polypropylene Plants Ammonia and Urea Plants** Unit Projects**

Strong commitment ~ 1,500 to technology development Cumulated Patents

INVESTED IN R&D Since 2015 €56MLN INNOVATION 70 PROJECTS

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 11

* Data are based on corporate analysis ** Completed EXTENSIVE INTERNATIONAL PRESENCE

ROMESITTARD MILAN MOSCOW BRAUNSCHWEIG MUMBAI

ITALY AND THE REST OF 2,743 EUROPE

INDIA AND THE 2,065 REST OF ASIA

RUSSIA AND THE CASPIAN 716 REGION

AMERICAS 45

MIDDLE EAST 403 Headquarters AFRICA 142 Main offices and engineering centres TOTAL 6,114* EMPLOYEES Subsidiaries, branches and representative offices E&I division ~3,000 GRAND TOTAL ~ 9,114

*Average age: ~ 42 years Approx. 70% graduates A Real Multicultural and Multinational Group

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE Data as of: 30.6.2020 12 MAIRE TECNIMONT GROUP’S SHAREHOLDERS

Major Shareholders % of ordinary shares % of voting rights*

GLV Capital S.p.A. 51.018% 67.565%

Arab Development 4.733% 3.134% Establishment (ARDECO)

Other institutional and retail 44.249% 29.301% investors

NOTE: Based on the latest official information communicated to Maire Tecnimont (e.g. shareholders’ register, official filings)

(*) Pursuant to Article 120, Paragraph 1 of the Legislative Decree no. 58 of 24 February 1998 and to Article 6 bis of the By-Laws ("Voting right increase"), share capital of Maire Tecnimont S.p.A. refers to the total number of voting rights equal to 496,305,566

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 13 SUMMARY

1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions SOLID MACRO DRIVERS TO OUR CORE BUSINESS

PETCHEM

• Gas monetization: Cheap feedstock supports owner’s investment attractiveness

• Strong demand for plastics-based products

FERTILIZERS • Gas monetization

• Demography and agricultural modernization driving long term demand for nitrogen-based fertilizers

• Technology barriers

OIL & GAS REFINING

• Midstream Oil and Gas Treatment

• Refining: Revamping, environmental regulations & capacity upgrade

• Integration between petchem and refining MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 15 MAIRE TECNIMONT’S STRATEGIC PRIORITIES

Enhance and Develop Technology Driven Business

1 Strengthen Technology Develop Green Chemistry EPC in the Core Business Business 5 2 Strategic Priorities

4 3 Expand Geographic Pursue Project Footprint Development Activities

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 16 STRATEGY IMPLEMENTATION IN THE CORE BUSINESS

TECHNOLOGY-DRIVEN EXECUTION- DRIVEN

PROJECT LIFE-CYCLE LICENSING ENGINEERING PROCUREMENT CONSTRUCTION DEVELOPMENT SUPPORT

PROJECT LIFE-CYCLE DEVELOPMENT Detailed SUPPORT Direct Engineering PRODUCTS License Basic Feed Services EP EPC • Pre-empt competitive • Improve client pressures TYPICAL loyalty VOLUMES € 1-10m € 1-10m € 4-15m € 10-40m € 50-250m € 0.3-5bn • Leverage • Revenue technological diversification edge TYPICAL Very High High Double High Double Mid Double Low Double MARGINS Double Digit Digit Digit Digit Digit Single Digit • Increase plant • Client value-added partnerships RISK Low Low Low LowMedium High

Provide Technological Solutions Throughout the EPC Value Chain

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 17 DIFFERENTIATING FACTORS VS. OUR COMPETITORS

• Our focus is on more resilient Downstream and Gas Transformation, not Upstream

• Flexible business model

• Asset light: no idleness

• Leverage on our strong technological IPs

• Client diversification (NOCs and IOCs)

• Global approach with focus on specific geographies

Our Group is Well Positioned to Face the Current Environment

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 18 SUMMARY

1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions HYDROCARBONS’ FLAGSHIP PROJECTS

Polyolefins Gas Treatment

BOROUGE 3, ABU DHABI, UAE HABSHAN 5, ABU DHABI, UAE

Refinery Fertilizers

ROG PROJECT, ANTWERP, BELGIUM IOWA FERTILIZER COMPANY, USA

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 20 MAIN PROJECTS

PDH PLANT, TOBOLSK POLYETHYLENE PLANT, POLYPROPYLENE PLANT HDPE-PP REVAMP, (WESTERN SIBERIA) SUMGAYIT (AZERBAIJAN) SUMGAYIT (AZERBAIJAN) BATANGAS (PHILIPPINES) CLIENT: Tobolsk Polymer CLIENT: SOCAR CLIENT: SOCAR CLIENT: Summit Petrochemical EPC €660m EPC US$180m EPC €350m EPC US$180m (MET 65%)

LDPE PLANT, BRATISLAVA AMURSKI GCC (RUSSIA) (SLOVAK REPUBLIC) HDPE UNIT (RAPID), CLIENT: SIBUR CLIENT: Slovnaft PENGERANG (MALAYSIA) EPC CLIENT: PETRONAS EPC €204m EPCC €482m

POLYOLEFIN PLANT, GULF POLYPROPYLENE UNIT PP4, COAST (USA) RUWAIS (UAE) POLYOLEFINS UNITS (RAPID), CLIENT: Exxon Mobil CLIENT: BOROUGE PENGERANG (MALAYSIA) EP US$230m FEED €45m CLIENT: PETRONAS EPCC €328m

LDPE PLANT, VERACRUZ (MEXICO) PDH PLANT, CLIENT: Etileno KALLO (BELGIUM) PP PLANT REINSTATEMENT, HDPE-PP UNITS, BATHINDA EP US$191m CLIENT: BOREALIS YANBU (SAUDI ARABIA) (INDIA) EPCM €90m CLIENT: NATPET CLIENT: HPCL-Mittal Energy EPC US$65m EPCC US$225m POLYOLEFINS COMPLEX, RABIGH (SAUDI ARABIA) PE/NAO PLANTS, CLIENT: Petro Rabigh MESAIEED (QATAR) POLYPROPYLENE UNIT PP5, LLDPE-HDPE-PP PLANTS, EPC US$1.2bn CLIENT: Qatar Chemical RUWAIS (UAE) DAHEJ (GUJARAT, INDIA) Company CLIENT: BOROUGE CLIENT: OPALL EPC US$830m EPC EPC US$440m

LDPE Plant, SADARA POLYOLEFINS COMPLEX . LLDPE-HDPE-PP PLANTS, (SAUDI ARABIA) PDH/POLYPROPYLENE PLANT, RUWAIS (UAE) SOHAR (OMAN) CLIENT: Sadara AL JUBAIL (SAUDI ARABIA) CLIENT: BOROUGE CLIENT:ORPIC EPC US$280m CLIENT: Al Waha EPC (1)US$445m, (2)US$1.8bn, EPC US$895m EPC US$580m (3)US$1.7bn

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE IN PROGRESS COMPLETED 21 MAIN OIL & GAS PROJECTS

SULPHUR COMPLEX GDANSK DELAYED COKER COMPLEX AND COMBINED OIL REFINING UNIT (CORU) DELAYED COKING UNIT, RIJEKA (POLAND) HYDROWAX VACUUM DISTILLATION, MOSCOW REFINERY (RUSSIA) REFINERY (CROATIA) CLIENT: Grupa Lotos GDANSK (POLAND) CLIENT: JSC Gazprom Neft Moscow Refinery CLIENT: INA-Industrija Nafte CONTRACT TYPE: EPC €111m CLIENT: Lotos Asfalt CONTRACT TYPE: EPC €480m CONTRACT TYPE: EPCM €450m CONTRACT TYPE: EPC €304m

OIL & GAS TREATMENT PLANT, AMURSKI GAS PROCESSING PLANT (RUSSIA) LUBIATOW (POLAND) 5 REFINERY PROCESS UNITS, KSTOVO CLIENT: NIPIgaspererabotka CLIENT: Polish Oil & Gas Company REFINERY (RUSSIA) CONTRACT TYPE: EPC €3.9bn CONTRACT TYPE: EP €91m CLIENT: Lukoil CONTRACT TYPE: EPC US$527m REFINERY MODERNIZATION, HEYDAR ALIYEV, REFINERY OFF GAS(ROG) PROJECT, BAKU (AZERBAIJAN) ANTWERP (BELGIUM) CLIENT: SOCAR CLIENT: Total Olefins CONTRACT TYPE: EPC US$800m CONTRACT TYPE: EPC €193m

OIL AND GAS TREATMENT LNG TERMINAL CHENTOUJIA, "TEMPA ROSSA” CORLETO GUANGDONG (CHINA) PERTICARA (ITALY) CLIENT: Guadong LNG JEO CLIENT: Total E&P CONTRACT TYPE: EPC €280m CONTRACT TYPE: EPC €505m

REFINERY UPGRADING, LUANDA CLEAN FUEL PROJECT LPG TRAIN 4 – ZCINA HASSI (ANGOLA) RABIGH, (SAUDI ARABIA) MESSAOUD (ALGERIA) CLIENT: ENI CLIENT: Petro Rabigh CLIENT: Sonatrach CONTRACT TYPE: EPC US$200m CONTRACT TYPE: EPC €148m CONTRACT TYPE: EPC US$248m

IGD EXPANSION PROJECT (IGD-E1), GAS REFINING REVAMPING, PORT TREATMENT AND MARINE WORKS, DAS SULPHUR RECOVERY UNITS, HARCOURT (NIGERIA) ISLAND (UAE) MOSTOROD (EGYPT) CLIENT: Nigerian National Petroleum CLIENT: ADGAS CLIENT: Egyptian Refinery Company Company CONTRACT TYPE: EPC US$490m CONTRACT TYPE: EP €97m CONTRACT TYPE: E US$50m

AROMATICS COMPLEX SHUAIBA INTEGRATED GAS DEVELOPMENT OIL GATHERING, TREATMENT, EXPORT AL WAFA GAS PLANTS PROJECT (KUWAIT) HABSHAN 5 (ABU DHABI – UAE) DABBI’YA PHASE III, ABU DHABI (UAE) MELLITAH & GADAMES BASIN (LIBYA) CLIENT: Kuwait Paraxylene Production CLIENT: Agip Gas CLIENT: GASCO CLIENT: ADCO Company (KPPC) CONTRACT TYPE: EPC US$4.7bn CONTRACT TYPE: EPC US$2.3bn CONTRACT TYPE: EPC €1.2bn CONTRACT TYPE: EPC US$1.2bn

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE IN PROGRESS COMPLETED 22 MAIN FERTILIZERS PROJECTS

IOWA FERTILIZER COMPANY, WEVER, GRANULATION UNIT, WLOCLAWEK YARA, SLUISKIL UREA PLANT, GEMLIK IOWA (USA) (POLAND) (THE NETHERLANDS) (TURKEY) CLIENT: Orascom Construction CLIENT: ANWIL, ORLEN Group CLIENT: Yara International ASA CLIENT: Gemlik Gubre Industries CONTRACT TYPE: EPC €350m CONTRACT TYPE: EPC €125m CONTRACT TYPE: EPCM €200m CONTRACT TYPE: EP €250m (Tot. investment)

AMMONIA PLANT, KINGISEPP (RUSSIA) CLIENT: EuroChem CONTRACT TYPE: EPC €660m

AMMONIA/UREA PLANT, KINGISEPP (RUSSIA) CLIENT: EuroChem CONTRACT TYPE: EPC €1bn

GRANULATED UREA PLANT, AMMONIA DEBOTTLENECKING, TOLYATTI (RUSSIA) Annaba, Arzew (ALGERIA) CLIENT: Volgafert CLIENT: Fertial (KUIBYSHEVAZOT+METDEV) CONTRACT TYPE: E CONTRACT TYPE: EPC €200m

FERTILIZER COMPLEX PROJECT UREA DEBOTTLENECKING & FERTILIZERS COMPLEX , ASWAN AMMONIA PLANT NANGAL AL-JUBAIL GRANULATION PLANT (EGYPT) PUNJAB (INDIA) (KINGDOM OF SAUDI ARABIA) SHUAIBA (KUWAIT) CLIENT: KIMA CLIENT: National Fertilizers Ltd. CLIENT: SAFCO CLIENT: P.I.C. CONTRACT TYPE: EPC US$540m CONTRACT TYPE: EPC US$240m CONTRACT TYPE: EPC US$350m CONTRACT TYPE: EPC US$100m

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE IN PROGRESS COMPLETED STAMICARBON LICENSES: OVER 250 WORLDWIDE 23 H1 2020 ORDER INTAKE

H1 Order Intake (€m, 2011-2020) AMURSKY 2 - PETCHEM €1.2bn EPSS (in consortium) 3,977 CIS - Polyolefins units

BIR SEBA – OIL& GAS REFINING €0.4bn EPC Algeria - Oil Processing Facility

1,811 1,768 1,537 1,473 UREA PLANT - FERTILIZERS 1,281 €0.2bn EPC 1,147 Turkey - Urea plant 1,005 895

385

HORIZON – OIL& GAS REFINING EPC H1 2011 H1 2012 H1 2013 H1 2014 H1 2015 H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 France - Hydrotreatment unit MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE H1 2020 in Top 3 First-Half Since 2011 24 BACKLOG

Backlog by Business Unit (€m, 31/12/19-30/6/20) Backlog by Geography (June 2020)

6,703 N. America 6,373 6,142 208 3% 374 373 Africa 18%

8% 6,495 Asia 5,999 5,769 8% 63% Middle East Europe

31/12/19 31/03/20 30/6/20

Hydrocarbons Green Energy MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE Solid and Diversified Backlog 25 BACKLOG ANALYSIS – HYDROCARBONS BUSINESS UNIT

Backlog by Type (€m, 31/3 -30/6/20) Backlog Cover* (31/12/19-30/6/20)

6,495 5,769

4,815 4,861 2.3 1.9 1.9

1,497 706 202 183 31/03/2020 30/06/2020 31/12/19 31/03/2020 30/06/2020 E EP EPC Good mix between E, EP, and EPC Excellent cover for future revenues

*Defined as the ratio between Backlog and LTM Revenues *Defined as the ratio between Backlog and LTM Revenues MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE

MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE 26 MAIRE TECNIMONT’S BACKLOG VS. WTI OIL PRICE*

Backlog WTI 250

200

150

100

50

0 6/30/14 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17 12/31/17 6/30/18 12/31/18 6/30/19 12/31/19 6/30/20

* Relative scale. 30 June 2014 = 100

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 27 COMMERCIAL PIPELINE (HYDROCARBONS BU)

Commercial Pipeline (€bn, Dec ’14 -Jun ‘20)

52.0 47.5 12.5 39.5 41.2 13.1 8.2 31.5 9.3 12.4 28.6 26.0 07 7.4 10 05 7.2 07 06 06 07 27.1 23 25.6 24.4 18 19 12

Dec'14 Dec'15 Dec'16 Dec'17 Dec'18 Dec'19 Jun'20

Prospect, Prequalification & Pre-Tendering Tendering Tendered

Our Commercial Pipeline Has Doubled since 2014 MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE

MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE 28 COMMERCIAL PIPELINE BY GEOGRAPHY (HYDROCARBONS BU)*

C.I.S. FERTILIZER €12.4bn POLYOLEFIN Europe GAS TREATMENT POLYOLEFIN REFINING €3.1bn REFINING

North and Central America €3.0n POLYOLEFIN FERTILIZER GAS TREATMENT Asia FERTILIZER €9.2bn POLYOLEFIN GAS TREATMENT REFINING Middle East FERTILIZER €14.9bn POLYOLEFIN GAS TREATMENT REFINING South America FERTILIZER €1.0bn Africa FERTILIZER €8.4bn POLYOLEFIN GAS TREATMENT REFINING

Our Commercial Efforts are Widely Diversified Across Key Geographies MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE MAIRE TECNIMONT – FY 2019 FY2019 FINANCIALRESULTS – TECNIMONT MAIRE *Figures include prospect prequalification and pre-tendering, tendering, and tendered 29 ENERGY TRANSITION – GREEN CHEMISTRY

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 30 MAIN CURRENT INITIATIVES – GREEN GREEN

BIO-OLEO 2-G ETHANOL RENEWEABLE DIESEL CHEMICALS

• Production of 2G • Partnership to • Partnership for ethanol and/or license a the production other chemicals technology for of oleic acid starting from the production (bio-lubricants) lignocellulosic of Renewable from residual biomass Diesel (“HVO”) fats from vegetable • EPC of a new oils and residual plant in Northern fats Italy

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 31 MAIN CURRENT INITIATIVES – CIRCULAR ECONOMY

PLASTIC UP-CYCLING WASTE TO CHEMICALS WASTE TO FUELS

• Up-cycling • ENI partnership: • ENI partnership: Waste Bedizzole plants Waste to Methanol to Hydrogen plant in running at close to plant in their Livorno their Porto Marghera full capacity refinery. and Taranto refineries • 30 thousand tons of • Feedstock: urban • Feedstock: urban plastic waste waste and non waste and non recycled in 2019 recyclable plastics recyclable plastics • 6.4 thousand tons • Licensing this • Licensing this CO2 emission technology to third technology to third avoided parties parties

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 32 MAIN CURRENT INITIATIVES – GREENING THE BROWN

REN.ENERGY TO FUELS/CHEMICALS DCCD TECHNOLOGY H2S CRACKING

• Analyzing ways • R&D to develop a new • Proprietary to produce gas purification technology for syngas and liquid technology the conversion of products with − Valorize natural H2S to Hydrogen Green Hydrogen, gas fields with and Sulphur bio-genic CO2, high content of • Innovative and and CO2 CO2 and H2S more efficient feedstock − Unlock additional way to recover • New generation valuable gas Sulphur of electrolyzers resources

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 33 OUR LONG-STANDING TRACK RECORD IN HYDROGEN

Since 1971 50 110

YEARS OF HYDROGEN UNIT EXPERIENCE PROJECTS

Well Recognized Leadership Highly skilled IN LICENSING IN HYDROGEN MANAGEMENT HYDROGEN TECHNOLOGY SERVICES TROUGH HYDROGEN BASED ON STEAM REFORMING RECOVERY FROM OFF-GASES

We Have an Unparalleled Experience in Hydrogen Technology MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE

MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE 34 OUR COMMITMENT TO SUSTAINABLE HYDROGEN TECHNOLOGIES

Maire Tecnimont Involvement in Hydrogen

• Development of new generation of electrolyzes with higher efficiency Green • Integration of Best Available Technologies in Green Hydrogen supply chain

• Developing proprietary technology: electrical SMR using renewable energy Super Blue • Competitive production costs and drastic reduction CO2 emissions

• Partnership ENI/NextChem: production of circular Hydrogen and Syngas Circular • Agreement with LanzaTech Waste to produce Waste to Ethanol

• Sequestration of CO2 (negative Approach); CO2 for Enhanced Oil Recovery CO Capture 2 • Conversion of CO2 in Methane via Methanation with Green Hydrogen MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE MAIRE TECNIMONT – H1 H1 2020 FINANCIALRESULTS – TECNIMONT MAIRE One Goal: Decarbonization and Emissions Reduction 35 THE ESG AGENDA: RESULTS ACHIEVED IN 2019

ENVIRONMENTAL SOCIAL • Launch of NextChem • Multi-year HSE awareness program (SAFETHINK) • 56 ongoing innovation projects • MET Academy, a new multi-channel training platform available • Launch of a multi-year digital transformation to all employees program: Beyond Digital • In Country Value (ICV): 52% of goods and services purchased • Implemented one of the most advanced plastic locally (20 main Projects) recycling plant in EU (Bedizzole) • Women’s middle management positions up by 14% (vs. 2018) • Issued the first ESG-Linked Loan • 100% new suppliers screened on social and environmental • CDP rating reconfirmed: “B” criteria

GOVERNANCE • Solid governance of Sustainability (Internal Committee and Advisory Board) • Implementation of Sustainability Policies • 15% of the MBO Plan of the CEO and Top Management linked to Environmental Targets

HIGHLY RANKED IN ALL THE MAIN SUSTAINABILITY INDEXES

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 36 SUMMARY

1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions CONSOLIDATED INCOME STATEMENT

INCOME STATEMENT

€m 2017 2018 2019 • Revenues’ • Revenues driven by execution of different Revenues 3,527.2 3,646.6 3,338.4 project mix EBITDA 189.9* 205.7 235.6 • Steady growth in EBITDA EBITDA % 5.4% 5.6% 7.1% and Net Income EBIT 168.7* 185.5 188.9 Net Income 97.7** 117.4 114.7 • EBITDA marginality reflects changing backlog mix BALANCE SHEET €masof Dec17 Dec18 Dec19

Net Invested Capital (Asset) (175.8) (248.8) (370.0) • Strong growth in Shareholders’ equity driven Net Cash/(Net Debt) 108.0 93.8*** 78.9*** by positive results Total Shareholders' Equity 283.8 342.6 448.9 • 2019 Net Cash guidance Group Shareholders' Equity 262.0 309.6 408.5 met

* Adjusted to retroactively apply IFRS 15 to 2017 (negative effect of €3.6 million at 2017 EBITDA level) ** Adjusted to also exclude a €28.3 million (pre-tax) and €18.9 million (post-tax) one-off positive effect of certain derivative transactions related to the convertible bond and originally included in the Net Financial Charges *** Excluding Non-Recourse Project Financing (€36.3m at 31/12/18, €59.4m at 31/12/2019), including an amount to be recovered in India (€16.2m at 31/12/18, and €16.6m at 31/12/2019), and excluding trade receivables equivalent to a financial credit for €38.3m in December 2019 and Financial Leasing liabilities - IFRS 16 for €150.1m in December

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 2019. 38 DEBT MATURITY PROFILE

M-LT Bank Debt Maturity by Type (€m, 30/6/20)

Total 16.0 39.0 78.0 87.0 221.0

56.0

165.0 67.0 78.0 39.0 16.0 20.0 2020 2021 2022 2023 2024

Bond Medium - Long Term

Financial Flexibility To Face The Current Period

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE 39 SUMMARY

1. Group Overview 2. Strategy and Competitive Positioning 3. Operations and Commercial Activity 4. Financial Data 5. Conclusions INVESTMENT CASE

Strong Experienced Competitive Management Team Position and with Proven Leadership in our Track Record Core Markets Comprehensive Service Provider Strong Financial Position with a Strong Technology Offering

Growing INVESTMENT Presence in Proven Execution Already CASE Capability of Large Profitable Green Chemistry and Complex Business Projects Extensive Significant International Backlog Providing Good Presence with Strong Growth Revenues Prospects Visibility

MAIRE TECNIMONT GROUP OVERVIEW – SEPTEMBER SEPTEMBER 2020 – OVERVIEWGROUP TECNIMONT MAIRE Our Group’s Unique Positioning Makes it an Appealing Investment 41 Maire Tecnimont Group’s Headquarters

Via Gaetano De Castillia, 6A 20124 Milan [email protected]

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www.mairetecnimont.com