5 AN AMBITIOUS GOAL 50% of employees to be also shareholders BY 2030 INSIGHT | Focus On million. With the good performance of the stock in recent months, the plan was already worth €20 million at its debut. This is in addition to the “Yes” plan that allows all employees to voluntarily purchase shares at a 25% discount. What are the incentive plans for management? The conditions for managers are obviously different. The three-year long-term incentive plan expired at the end of 2022, and we will launch the new one soon. Our goal is to broaden the base from about 700 to 1,100 people, to include talented young people in the plan. There is an issue of recruitment and retention of valuable engineers, particularly in the very competitive U.S. market. The previous three-year plan distributed about 9.5 million shares. Personally, I decided to distribute the cash portion of my 2022 bonus, €500,000, to Italian employees and earthquake victims in Turkey. How many employees of the Group are also shareholders to date? As of today, 37% of the Group's employees are also shareholders, but the goal is to reach 50% by 2030: in a company like Prysmian, reaching 3% of shares held by employees and top management is a necessary threshold. This is a complex plan, however, because it involves markets in different countries around the world. Does the share of 3% equity held by employees and managers include top management and the CEO? What is the amount of equity you own? I own about 1.5% of the Group, which, added to about 1.5-2% in the hands of employees and management brings the total to 3%. You said recently that the group could reach a €2 billion EBITDA in the medium term. Which division will make the biggest contribution? The Projects division, which handles the installation of large interconnections on land or under water. In 2022 this division generated €250 million of EBITDA, but that number could double in the coming years in light of the substantial pipeline of projects already in the portfolio. With the recent €1.8 billion order in the Netherlands, we have reached a record €8.5 billion order book. Trends in our Telecom and Energy units, on the other hand, will be more stable. Do you have sufficient production capacity to meet the demand for all these projects? Not all of it, which is why we have to invest in upgrading our production lines. In some cases, we are negotiating framework agreements, which involves setting aside capacity for projects that have not yet authorized.
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