Sustainability. Why power grids are a key to DECARBONIZATION Offshore wind and the new challenges for power grids. Building an integrated EU power market through interconnection. How big is the 5G infrastructure market? We compare analyst forecasts.

2 Enabling the Digital and Energy transition CONTENTS Focus On Investing in interconnection p. 3 “We are what we do. Sustainability is not an act but a habit.” p. 4 How interconnection can support decarbonization p. 6 Power grid developments to accommodate offshore wind p. 10 An integrated European power market through interconnection p. 14 Tracking the Future Analyst predictions for the global 5G infrastructure market p. 16 Reduced-diameter, high-density research yields 180μm-coated bend-insensitive fibre p. 18 Prysmian Group Around the World Telling the story of Prysmian Group’s sustainability and innovation p. 20 Doing Business Sustainable growth: what does it mean? p. 24 Quarterly Overview Record €4.8 billion project orders secured in 2021 p. 28 Prysmian Group announces €1 billion planned investments by 2024 to support energy transition p. 31

3 Investing in interconnection Continue reading on the following pages Focus On Sustainability is good for business. It is increasingly becoming a business in its own right. Prysmian Group's record orders of €4.8 billion in 2021 were fueled by growing demand for energy cables – especially in the renewables area – and by our Projects business unit which has strong exposure to the energy transition. As the year 2022 began, geopolitical events gave the energy transition a whole new meaning. Reaching net zero is now an imperative for a business's energy security and its bottom line, well as necessity for our planet. The business of decarbonization has never been more urgent, and more relevant.

4 Enabling the Digital and Energy transition Prysmian Group Launches first-ever SUSTAINABILITY WEEK June 20-24, 2022 Prysmian Group will throw open its doors for in-person events featuring panels of external speakers in Europe, North America, Latin America, the Middle East, China, and Oceania-South East Asia. The event, called “We are what we do. Sustainability is not an act, but a habit,” builds on past experience of Prysmian Group’s Sustainability Day. The newly expanded format offers more workshops, more guests, and more stakeholders. The goal is to give more space for feedback from local communities in the regions where Prysmian Group operates, to make its sustainability commitment even more effective. “WE ARE WHAT WE DO. SUSTAINABILITY IS NOT AN ACT BUT A HABIT.” Prysmian Group is launching a new stakeholder engagement event in 2022: Sustainability Week. From June 20 to 24, top management at Milan headquarters, business units, and regional offices around the world will share progress on their sustainability strategy and get feedback from stakeholders such as customers, investors, suppliers, analysts, associations and universities.

5 INSIGHT | Focus On “Sustainability is not something just involving headquarters,” said Maria Cristina Bifulco, Prysmian Group Chief Sustainability Officer & Group Investor Relations Director. “It’s not a centralized, top-down project. We need to involve our regions. The more feedback we get, the more complete our perception of stakeholder priorities is, and the better we can respond.” Sustainability Week is the latest addition to a year-round calendar of stakeholder engagement commitments that are at the foundation of Prysmian Group’s sustainability strategy. As a public company, stakeholder listening is important to Prysmian because it enables the Group to align business strategy with stakeholder requests as much as possible. Stakeholder engagement is one of the ways that Prysmian Group strengthens its business positioning, informs its ESG reporting, and defines sustainability targets and KPIs. Sustainability Week is one of the tools it uses to interact with stakeholders to get their feedback, which helps Prysmian compile a matrix or “map” of priorities where the company’s goals intersect with those of its stakeholders. Prysmian also uses tools such as the Stakeholder Survey of 1,000 customers; one-to-one interviews with six key investors, a Senior Leader survey of 400 Prysmian Executives, interviews with 14 top executives, and an employee survey that reaches 73% of employees. Sustainability Week will start June 20 with a digital event, where CEO Valerio Battista and Enel CEO Francesco Starace will kick off the week with a panel called “Is the grid infrastructure green enough, does it answer to the energy transition? Are we doing our best?” In another panel, moderator Andrea Cabrini from business network Class-CNBC will interview Gilles Guibout, Head of European equity strategies AXA on the topic “Investors’ views about prioritizing social impact and climate change commitments.” The main theme of the week will be “strengthening the links with the environment and local communities.” Each day of the week will feature an event led by senior management at headquarters, on days dedicated to Climate, Social, and Innovation topics, for a total of five events. In addition to the five events led by executives from headquarters, each day will feature about two local events per region, for a total of 22 local events during the span of the Sustainability Week. These events will spotlight local CEOs and Sustainability Ambassadors, involving local leadership and local stakeholders, in the local language for local engagement. “Our sustainability commitment is set at Group level and then gets cascaded across the single regions,” explains Maria Cristina Bifulco. “When we are talking about social ambition, say, or decarbonization, only the regions can translate our goals into a local action plan. And each region has its own identity and is at a different development stage. The more closely we can work together, the more effective we become.” STAKEHOLDER INTERACTION TOOLS one-to-one interviews with key investors & top executives 1,000 Stakeholder Survey customers 400 Senior Leader Survey Prysmian Executives 73% Employee Survey of reach

6 Enabling the Digital and Energy transition How interconnection can support DECARBONIZATION According to the US Energy Information Administration’s "International Energy Outlook 2021," global energy demand will rise 50% between 2020 and 2050, pushing the sector’s annual CO2 emissions up by 24.7%. Renewable energy will make up a far larger part of the total global power mix by 2050, growing 3.3% per year, but fossil fuels will remain in use. How can this be balanced with carbon reduction ambitions? Global carbon dioxide emissions need to be reduced by 45% by 2030 from 2010 levels and reach net-zero emissions by 2050 in order to reach the goals set out in the Paris Agreement. The energy sector has a vital role toplay in this. In2021, global energy-related CO2 emissions remained at 31.5 Gt, which contributed to CO2 reaching its highest ever average annual atmospheric concentration. When looking at energy sector CO2 production in different countries, we see that carbon emissions of energy imports are not considered in the same way as those of locally produced power. An Aurora Energy Research study specifies that electricity imports are net-zero “only when supplied by renewables and nuclear sources, or when the grid emission factor of the exporting country is near zero during the time of exports.” Carbon emissions of imports can vary significantly depending on their source. If sustainable energy is exchanged as efficiently as possible, however, this will have a marked effect on decarbonization. One key challenge related to renewable energy sources, such as solar and wind, is the variability of yield. This can vary enormously from season to season and even day to day. Through smart transmission, interconnection neighbouring regions can mitigate this by importing and exporting power. Interconnection of power networks can significantly support decarbonization by harnessing and sharing large decarbonization of renewable energy. +3.3% Renewable energy expected growth per year

7 INSIGHT | Focus On Interconnectors make it possible for countries to import zero-carbon energy from other regions to supplement their own generation mix. Or they can import energy when renewable source yields drop – for example, solar farms at night. That allows countries to maximize their clean use of energy resources and phase out fossil sources. High-potential renewable energy areas, such as a solar park in a desert region, are often located very far from the areas where power is consumed. Long-distance transmission interconnections can ensure this energy is transported efficiently to these areas, as well as other countries with relatively little sunlight. Countries experiencing vast amounts of wind at any given moment can share the generated energy with other areas. As a result, countries can reduce their dependency on fossil fuels they may need to support their local renewable sources. In addition, interconnection can also help keep power affordable. If prices in one area increase, power can immediately be imported from countries where generation is less expensive. It’s also possible to react immediately to changes in demand, without needing to start up fossil fuel-based backup power. By transporting zero-carbon energy from where it is produced to where it is required, interconnectors can help cut CO2 emissions in order to reach net zero. As interconnector capacity increases, the role of interconnectors in supporting decarbonization is expected to increase. Global and intercontinental power grid interconnections offer significant potential to decarbonize the electrical systems by making smart use of renewable energy and balance supply and demand across regions and time zones. By bringing together load centers and areas that can produce high volumes of renewable power, intercontinental grid interconnection may, in time, result in a global power grid.

8 Enabling the Digital and Energy transition Power grid interconnection: expanding across the world four power grids are interconnected across the United States, Canada and Mexico NORTH AMERICA three main regions linked via grid interconnection LATIN AMERICA The Africa Clean Energy Corridor (ACEC) enhances cross-border interconnection and trade of renewable power from Egypt to South Africa AFRICA a ‘EuropeMediterraneanMiddle East’ super-power grid is being planned for 2050 EUROPE five regional grids interconnected via HVAC and HVDC links INDIA ‘ELECTRIC POWER NETWORK INTERCONNECTION: A REVIEW ON CURRENT STATUS, FUTURE PROSPECTS AND RESEARCH DIRECTION’ lists the technological benefits of large scale power network interconnections as follows: \ Balancing mismatches in supply and demand Connecting summer peak-demand regions with winter peak-demand regions. \ Incorporating intermittent renewable power Facilitating incorporation of variable renewable resources. \ Accessing remote energy resources Power usage is concentrated in major cities with energy demand that can’t be fulfilled by local resources. Interconnectors can link these sites to highly location-specific renewable sources. A conceptual plan of a European supergrid linking renewable energy projects. Source: MDPI AFRICA EUROPE ASIA Norwegian Sea WIND POWER SITE SOLAR POWER SITE HYDROPOWER SITE Atlantic Ocean

9 INSIGHT | Focus On Impact of interconnectors on decarbonization under different EU decarbonization levels Source: Aurora Energy Research Net generation in Rest-of-EU in 2050 for various interconnection and EU decarbonization levels Nuclear Other Thermal Gas CCS Renewables An increase in interconnection capacity increases renewables generation, and decreases thermal generation across EU LOW INTERCONNECTION LEVEL 918 1,865 3,183 TWh TWh TWh 84 316 778 2,060 3,191 82 272 348 256 2,331 3,205 Low Existing High 71 199 CENTRAL INTERCONNECTION LEVEL 925 1,875 3,205 84 321 777 2,077 3,222 82 286 347 255 2,361 3,205 Low Existing High 71 209 HIGH INTERCONNECTION LEVEL 932 1,877 3,215 84 322 789 2,071 3,236 82 292 353 259 2,374 3,263 Low Existing High 71 205

10 Enabling the Digital and Energy transition Wind turbines are moving further out to sea, and more floating wind farms are planned, which means power needs to travel further to the shore. Connecting large amounts of offshore wind energy to - often outdated - grids poses a huge challenge. Integrating offshore wind energy into the power system requires expansion and upgrades. Let’s examine some key challenges and developments. One major challenge is dealing with Power Quality issues. Wind turbine switching and large variations in generation and consumption of energy can result in significant voltage fluctuations. When turbines are commissioned, voltage fluctuations in the distribution network must be kept within certain limits. IEC 6140021 - the international standard for measurement and assessment of grid-connected wind turbines - recommends load-flow studies to assess the influence of wind turbines on steady-state voltages. IEC 61400-21 also defines power quality characteristics for wind turbines and suggests methods to assess the impact of wind turbines on grid power quality. Furthermore, the required converters and long cables introduce phenomena such as harmonic distortion and power losses. The new technologies and power electronics used are also often sensitive to voltage disturbances. POWER GRID DEVELOPMENTS TO ACCOMMODATE OFFSHOREWIND As offshore wind’s contribution to the energymix grows, getting maximumpower from turbines to shore is becoming increasingly important.

11 Different regions are facing different challenges and coming up with a variety of solutions. In several countries, national transmission operators are planning network rollouts and building lines to the turbines. In the U.K., transmission lines connecting wind farms are sold to independent operators. In the U.S., 30 GW of offshore wind parks are scheduled to be installed by the end of the decade. However, if federal agencies, states and grid operators do not develop transmission plans ready in time, capacity may largely remain underused. Network developers and regulators have not only pointed out that growing pressure on the network will require grid renewal and a more integrated approach, but also that new (international) interconnections are needed to transmit power from where it’s generated to where it’s needed. According to the UN, “international electricity grid interconnection (…) can (…) improve energy security in the interconnected countries.” A study from Stanford University professor Mark Jacobson modelling energy grids powered by 100% wind, water and sunlight across Western Europe found that increased interconnection between countries would lower energy costs and improve grid stability. This challenge is stimulating new cooperation. In the North Seas Energy Cooperation (NSEC), for example, EU member states are working to develop offshore wind energy generation and transmission infrastructure. The British government, which wants to reach 40 GW of offshore wind by 2030, has studied a coordinated approach to building both offshore wind transmission and subsea cables to other countries. Britain's transmission grid operator found that an integrated approach could save consumers 18%, or $8 billion, in CAPEX and OPEX by 2050. A multipurpose interconnector that would link future offshore wind farms in the waters off of both the U.K. and the Netherlands and provide up to 2 GW of power trading capacity is also being studied. In Denmark, the government plans to build energy islands that connect multiple wind farms. INSIGHT | Focus On New (international) interconnections are needed to transmit power fromwhere it’s generated to where it’s needed STIMULATING NEW COOPERATION

12 Enabling the Digital and Energy transition PRYSMIAN GROUP EDITORIAL STAFF When offshore wind developers need to decide between HVAC (high-voltage alternating current) and HVDC (high-voltage direct current) cabling, it is vital that the complete system is taken into consideration. Offshore wind farms generally transmit power using high-voltage alternating current, but this is often seen as a technology with inherently high energy losses, whereas HVDC has much lower losses. However, a HVDC system power requires power converters, DC inductors, filters and other components to be placed offshore. HVDC cabling also works for transmission of power over long distances, since it has no reactive power requirements. The trend towards moving further from the shore and building floating wind farms may result in far more HVDC installation. However, we can’t simply say HVDC is ideal for all wind turbine projects and HVAC isn’t: the choice strongly depends on a variety of factors, particularly the distance of a project from shore. Power generation from Renewable Energy Sources and interconnection among networks are the two main areas where energy links across water is developing massively. Cabling solution manufacturers not only need to provide a complete portfolio of HVAC and HVDC solutions and understand how to couple submarine to onshore grids – they also require extensive, up-to-date knowledge of the wind energy generation assets. Also, experience in working across different nations' territories at sea is vital. Transmitting energy from offshore turbines to the grid requires a highly efficient, robust, cost effective and reliable technical solution. But as power and distance increase, it becomes more attractive. Submarine power cables are now among the most important enablers for the energy transition. The ability to deliver energy networks from the point of generation all the way to the point of consumption is absolutely vital to realising this. Valerio Battista Chief Executive Officer Prysmian Group

13 INSIGHT | Focus On Global offshore wind installations 2020-2030 New installations GW, offshore Nuclear Other Thermal Gas CCS Renewables 7.50 2.33 2.89 12.71 5.00 3.56 3.96 9.44 21.96 6.00 4.25 4.20 10.84 25.29 3.06 2.94 6.07 CAGR* +29.3% CAGR* +29.3% 0.06 0.01 4.00 2.33 3.17 8,68 1.49 0.02 6.00 4.00 5.10 12.74 28.84 0.01 6.50 4.00 5.20 14.55 31.95 1.70 7.00 4.00 7.40 18.07 37.72 1.25 7.00 4.40 7.50 19.53 39.98 1.55 0.01 4.00 6.31 12.52 1.14 1.07 5.00 3.50 5.09 15.80 2.21 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Source: GWEC Market Intelligence, July 2021 * CAGR = Compound Growth Rate The ambitious Global Energy Interconnection plan, supported by 400 institutions, universities, banks and consulting firms that include names such as Tencent, Morgan Stanley Asia, KPMG and Accenture, is developing concepts for connecting almost the entire world to one single renewable energy grid, as illustrated to the right. R&D AT PRYSMIAN GROUP Prysmian Group and the European Investment Bank (EIB) have finalised financing of €135 million intended to support the Group’s 2021-2024 R&D plans in Europe. This financing represents approximately 50% of the investments planned in Europe up to 2024. The new projects fulfil the goals set in Prysmian’s innovation roadmap and strategy, oriented towards supporting and promoting digitalization and the energy transition. Funding will primarily go to industrial research, innovation and experimentation, and new product development. 26 R&D centres 900 professional researchers, technicians and operators OVER 5,500 patents MORE THAN €100 M allocated to R&D worldwide per year APPROXIMATELY

14 Enabling the Digital and Energy transition A recent Stanford University study modelled grids fully powered by wind, water and sunlight across Western Europe. The costs of ‘fully interconnected’ versus ‘completely isolated’ grids were compared for interconnection scenarios in Belgium, Denmark, France, Germany, Gibraltar, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the UK. Climate forecasts, grid integration data, and energy demand profiles were also taken into account. In all modelled scenarios, increased interconnection between countries improved grid stability and reduced energy costs, compared to ‘isolated’ grids. This would also provide protection against supply loss, for example due to extreme weather. According to the study “interconnecting countries can (…) serve as an additional benefit to grid stability and cost reduction in a 100% clean, renewable energy world.” Interconnection can drive down cost by supporting market integration which is an important aspect of price formation. A report from Connect Energy Economics, commissioned by the German Environment Agency (Umweltbundesamt, UBA), states that an affordable largely CO2-free German and European power supply is feasible, if a sufficiently interconnected power market is in place. For all of the ten assessed scenarios with ambitious CO2 targets comprehensiveuseof aEuropean internal electricity market was considered an important. The European Commission expects fossil fuel dependence will diminish as electrification of the energy system increases, driven by the deployment of renewables. Expansion of networks and interconnections across vast areas and borders, linking remotely generated renewable energy to a The EU aims to be carbon-free by 2050 by phasing out fossil fuels. However, yields from renewable sources are often extremely variable: wind turbines won’t work when there’s no wind and solar panels don’t produce power at night, for example. An interconnected European power market allows states to buy other countries' excess energy capacity when needed and sell their own surpluses. An integrated European power market through interconnection Integration of renewable energy, reliability and cost considerations are vital drivers for the European Interconnector Market.

15 SOLAR THERMAL POWER PLANTS PHOTOVOLTAICS WIND HYDRO BIOMASS GEOTHERMAL unifiedgridsystem, is essential toachievingEurope’s climate targets. At present, most of Europe’s energy systems are interconnected to some extent. In fact, Europe boasts one of the world’s largest regional interconnected power grids, with many countries exporting significant amounts of surplus power to their neighbours. The total installed capacity of the European power grid is the largest in the world. Europe’s Transmission System Operators are working to create a European internal electricity market. TSOs are facing the challenge of providing highly reliable national and international connections while maintaining the grid’s 50Hz frequency. Furthermore, they need to connect more renewable sources and ensure consumers can transmit surplus power to the grid. The European Commission aims to achieve 15% interconnection by 2030. By 2030 each country’s infrastructure should be capable of exporting at least 15%of the electricity it produces – which seems to be attainable. The interconnection percentage varies strongly between countries in Europe at present. On one hand, Denmark has been able to reach 150-160% of local demand occasionally and exports surplus electricity to other countries. Plans for a European Super Grid (ESG) are also on the table. The ESG would allow the EU to permanently leave out fossil fuels and also save between €12bn and €40bn annually. Eventually, it may even be possible to connect renewable resources in remote locations, from the Sahara to the Arctic and Asia. The European Super Grid may can help reduce reliance on liquid gas and oil and support European energy independence. The lower cost and increased efficiency of a wellinterconnected system can also avoid a country’s energy supply being shut off as a result of conflict. International grid interconnections are also essential to enabling energy independence by increasing the number of renewable sources in the energy mix, thus enabling countries to meet their own energy demands - or even export more power than they import. This allows nations to become less dependent on fossil fuel imports and increase their energy stability. Growing uptake of renewables makes it vital to further accelerate implementation of interconnection projects. A high level of interconnection will enable countries to exchange clean energy in a way that balances surpluses and shortages and improves efficiency, cost and reliability. As interconnection requires higher levels of power to be transmitted as well as lower losses, Prysmian sees demand for cables with improved electrical and mechanical performance. An important driver in the interconnector market is the need for cabling at ever-greater depths, requiring state-of-the-art armouring as well as cable laying expertise. Development of floating wind farms requires dynamic cables with improved internal performance. INSIGHT | Focus On EUROPEAN ‘SUPERGRID’ PROJECTS Baltic Energy Market Interconnection Plan Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, Sweden, Norway. Europagrid United Kingdom, Ireland, Netherlands, Belgium, Germany and Norway. North Sea Offshore Grid Germany, the United Kingdom, France, Denmark, Sweden, the Netherlands, Belgium, Ireland and Luxembourg. Low Grid Germany, the Netherlands, Belgium and France. High Grid Europe and North Africa. ISLES Scotland, Northern Ireland and Ireland. All Islands Approach British Isles countries EU PowerNet Direct interconnection between all EUmember state TSO-networks. A conceptual plan of a European super grid linking renewable energy projects across North Africa, the Middle East and Europe PRYSMIAN GROUP IS PROUD TO BE A PART OF THESE LEADING EUROPEAN INTERCONNECTION PROJECTS Western Link National Grid / Scottish Power NSL | North Sea Link National Grid / Statnett IFA2 National Grid / RTE Viking Link National Grid / Erginet NeuConnect NeuConnect Britain Limited & NeuConnect Deutschland GmbH

16 Enabling the Digital and Energy transition Analyst predictions for the global 5G infrastructure market Tracking the Future

17 INSIGHT | Tracking the Future Estimates vary, but all point to vast growth: increased 5G spending should result in sharp 5G uptake increase across major cities worldwide According to Gartner, 5G will be the dominant mobile access technology making up 49%of all mobile subscriptions by the end of 2027. This will provide a huge impetus for the worldwide 5G infrastructure market. Generally, 5G infrastructure is defined as small and macro-cell base stations with edge computing capabilities - which requires significant amounts of fibre. \ Adroit Market Research expect the global 5G infrastructure market to reach US$ 48 bn by 2025. \ Mordor Intelligence expect this market to reach US$ 53 bn by 2026. \ Allied Market Research predict it will hit US$ 58 bn by 2025. \ Market Study Report puts the market at US$ 58 bn by 2026. \ BCC research expects this market to grow to a significantly higher US$ 115.4 bn by 2026, at a CAGR of 55% for the period 2021-2026. \ Maximize Market research predict a level of nearly US$ 44.69 bn in 2027. \ Fortune Business Insights put the global 5G infrastructure market at US$ 80.06 bn by the end of 2027. \ Grand View Research predict this market size will reach US$ 80.5 bn by 2028. NMSC places the global 5G infrastructure market at US$ 131.4 bn by 2030. \ Markets and Markets size put the global market size for 5G services at US$ 249.2 bn by 2026. \ Grand View Research believe this market will reach US$ 664.75 bn by 2028 - a CAGR of 46.2% from 2021 to 2028. \ Furthermore, Gartner forecasts that end-user spending on public cloud services will reach US$ 482 bn in 2022. According toGartner, 5G coverage provided by communications service providers in Tier-1 cities will grow from 10% in 2020 to 60% by 2024. The research firm states that this shift in customer behaviour is driving growth in the global PONmarket. As the price difference between 10-Gb-capable symmetric-PON (XGS-PON) and other technologies becomes smaller, CSPs are increasingly willing to invest in XGS-PON in order to stand out in terms of network quality and customer experience. Gartner estimates that by 2025, 60% of Tier-1 CSPs will adopt XGS-PON technology at large-scale to deliver ultrafast broadband services to residential and business users. In 2020, this figure stood at less than 30%. Communication service provider investments are driving market growth, as 5G infrastructure is deployed to offer improved data services across industry verticals. 5G networks are expected to reduce latency, increase speed, improve wireless network flexibility, and enable faster data processing. Supportive regulations and policies are also expected to drive growth of the 5G infrastructure market. APAC, with its leading domestic and international players, is forecast to be a key region for the global 5G infrastructure market. SEGMENT 2020 REVENUE 2021 REVENUE 2022 REVENUE 5G 13,768 19,128.9 23,254.6 LTE and 4G 17,127.8 14,569.1 12,114 3G and 2G 3,159.6 1,948.2 1,095.2 Small Cells Non-5G 6,588.5 7,117.9 7,113.9 Mobile Core 5,714.6 6,056.2 6,273.3 Total 46,358.5 48,820.2 49,851 Wireless Network Infrastructure Revenue Forecast, Wordwide (Millions of U.S. Dollars) Source: Gartner (August 2021)

18 Enabling the Digital and Energy transition REDUCED-DIAMETER, HIGH-DENSITY RESEARCH yields 180μm-coated bend-insensitive fibre In a new report, Prysmian documents the design and fabrication of a 180μm-coated bend-insensitive fibre with standard 125μm cladding. WAYS TO INCREASE CABLE DENSITY WITH FIBRES: \ Space-division-multiplexed fibres with standard 125μm cladding diameter. However, there are cost and connectivity challenges ahead before these solutions become practical. \ Reducing the cladding diameter to 80μm with coating diameters around 160μm. These fibres suffer from increased micro-bending sensitivity (factor of ~10 compared to standard 125μm-cladding fibres with same other properties) and still face connectivity and handling challenges. \ Keeping a standard 125μm cladding diameter and reducing the standard 245μm coating diameter. There have been impressive cable demonstrations fitting 6,912 fibres into a 50mm duct, using 200μm coated fibres introduced over a decade ago. Preliminary studies of <200μm coated fibres have been reported but work on index-profile designs and coating materials is needed to make them suitable for cabling. Prysmian designed and manufactured an optimized fibre with 180μm coating diameter using this third approach. A trench-assisted step-index profile, that had long proven effective in reducing bending sensitivities, was chosen. Prysmian’s innovation has excellent optical and mechanical properties and is fully compatible with legacy 245μm- and 200μm-coated fibres. A 576-fibre micro-duct cable with an 8.2mm diameter, yielding a record fibre density of 10.9fiber/mm² for such cables, was also fabricated. High-density cables can help meet capacity demands and make installations faster, more cost effective and environmentally friendly.

19 PROPERTIES OF 180µm-COATED BEND-INSENSITIVE FIBRE WITH 125µm CLADDING DIAMETER: \ Fully compliant with ITU-T recommendations G.652.D and G.657.A2 \ Microbending sensitivity similar / better than 245μm and 200μm coated fibres. \ Can be spliced with legacy fibres using conventional tools and fusion splicers. Fusion splicing tests proved full backward compatibility with legacy fibres. Tests ensured that no problems exist with the 180μm coated G.657.A2 trench fibre and verify backward compatibility with 245μm- and 200μm coated fibres. \ Excellent mechanical reliability. The 180μm-coated G.657.A2 trench fibre meets all existing requirements for stripping, tensile strength, and fatigue properties (in accordance with IEC 60793-2- 50 for type B fibres). There was no difficulty in cleanly stripping the 180μm coatings with commonly used tools. \ Strength at 50% probability of breakage was always above the 550kpsi lower limit specified by the Standard, before and after aging treatments. \ The smallest 180μm diameter has a cross-section about half of that of 245μm coated fibres, for tighter fibre packing densities and cable miniaturization. \ A 576-fiber micro-duct cable with a diameter of 8.2mm, yielding a record fibre density of 10.9fiber/mm² for such cables, was successfully fabricated. Given the excellent optical and mechanical performance of the 180μm coated bendinsensitive fibre, we fabricated several microduct cables with 192 to 576 of such fibres. Their standard structures are based on loose tubes with a diameter of just 1.2mm, each containing 24 fibres, around a central strength member. The 576-fibre cable has a 8.2mm diameter and yielded a density of 10.9 fibre/mm² – a record for such cables - and a weight of only 66kg/km. It is compliant with IEC 60794-1-21 optical and mechanical specifications. INSIGHT | Tracking the Future

20 Enabling the Digital and Energy transition TELLING THE STORY OF PRYSMIAN GROUP’S sustainability and innovation Prysmian Group Around the World Anna Wright, Vice President of Marketing and External Communications "Innovations don’t just happen in labs"

21 INSIGHT | Prysmian Group Around the World THE VALUES Anna Wright joined Prysmian Group in January 2022 as VP of Marketing & Communications. Her background as a former news anchor gave her first-hand experience in finding an important story and telling it in an engaging way. She is looking forward to telling Prysmian Group’s stories about sustainability and innovation across all aspects of its marketing and communication. North America Howwould you define your career path? I started in television news, where you change jobs every few years to move up in the TV markets. I started at the NBC station in a very small town in Nebraska and moved to the ABC station in Springfield, Missouri, which was just a few hours from St. Louis where I grew up. After Springfield, I came to Cincinnati to anchor the local CBS Station’s morning show. I left news in 2009 during the Great Recession and moved into corporate positions. I worked at Ethicon, Johnson & Johnson’s medical device manufacturer, moved to a position at a large law firm, Dinsmore & Shohl, LLP, and then landed at Northern Kentucky University. Each move, I kept my journalist’s spirit alive by learning new things, meeting different people, and sharing their stories. What do sustainability and innovation mean to you? I embrace both, even before I first heard those terms. My parents instilled those values by reminding me and my siblings to leave the world a better place no matter what we are doing. The innovation piece means finding new ways to do things and trying different things. It was really fulfilling to move to a company like Prysmian that also embraces these values. When you hear the word STEM, what pops into your mind? A focused learning on key subjects. I wish STEM programs were around when I was growing up because I always liked math and science. I loved chemistry and had considered it as a career before I opted for journalism. I remember when we had to use models to find our answers in Physics class and loved it. There weren’t STEM box kits with activities 30 years ago. But I wouldn’t change anything because I love where I am today.

22 Enabling the Digital and Energy transition What would you say to a young woman considering a job in a STEM career? Take the chance. Don’t be afraid to ask questions and make your case if you feel you need to be heard. Find a mentor because others are always willing to share advice and help people along. What made you decide to join the Prysmian family? What struck you most about the company? One of my mentors, Gina Rittinger, worked for General Cable years ago leading its Marketing & Communications team. She has stayed in touch with her former colleagues and shared the job posting with me. Gina said that this would be a perfect fit, so I came in and had great conversations. It really was a perfect fit, and I'm happy it worked out. What are your goals in this new role? Prysmian has amazing stories to tell about what we are doing with sustainability and innovation, and I want to share them within our communities and industry. I want to see these key messages reflected in all aspects of our marketing and communications, so our overall strategy/story is reinforced. You stress the importance of storytelling. What sort of stories do you think Prysmian has to tell? I like to say everyone has an engaging story, even if they don’t realize it. As a journalist, it was my job to find the story and share it in a meaningful way. As I moved into corporate roles, I continued with that approach in communications and marketing. I look forward to talking with our people and learning about them. Innovations don’t just happen in labs, so it will be exciting to discover these stories. What is the importance of diversity to you in the workplace? I believe a workplace is enhanced when there is a variety of backgrounds, cultures and opinions. Being exposed to a diverse workplace can challenge us to learn new things and grow. This environment benefits all of us. Give yourself the grace to make mistakes but learn from them. Science, Technology, Engineering and Mathematics STEM

23 INSIGHT | Prysmian Group Around the World PRYSMIAN GROUP EDITORIAL STAFF Tell us a funny anecdote from your professional life. The town in Nebraska where I started my TV career held the biggest Rodeo in the state. Therewas a two-week festival leadingup to the rodeo, and it was a huge event. My news station produced a special program that aired the first day of the festival, and everyone was assigned stories to learn about ranching and Western life. I was assigned to learn to rope or lasso cattle on Branding Day. I quickly learned two things. One, ranching is hard work, and cattle usually don’t want to do what the cowboys need them to do. If fact, they try to do the opposite. And two, when lots of cattle are gathered, it becomes a muddy, dirty mess. There was lots of laughing, but by the end of the day, I landed a rope around a calf’s neck. As you can imagine, the calf didn’t like it and took off- dragging me across the enclosure. Thankfully, I didn’t fall in the mud, and we had a great news story that people loved. I share this story because it made me realize that you usually only skim the surface when you learn about people and their work.

24 Enabling the Digital and Energy transition Sustainable growth: what does it mean? Doing Business the maximum growth rate that a company can sustain without having to increase financial leverage SUSTAINABLE GOAL RATE (SGR)

25 INSIGHT | Doing business The American business magazine Inc. gives the definition of sustainable growth as “the realistically attainable growth that a company could maintain without running into problems.” Directly related to sustainable growth is the term sustainable growth rate, usually abbreviated as SGR, which Inc. refers to “the maximum growth rate that a company can sustain without having to increase financial leverage.” As the moral of the Aesop fable “The Tortoise and the Hare” famously went, “Slow and steady wins the race,” alluding to the idea that consistent productivity and commitment over time is more fruitful in the long run than hastily rushing processes. The challenge facing modern companies is knowing how to determine a precise pace, and then keep consistent with it, while also remaining competitive in their respective markets. There is much talk in our current discourse about “building sustainability” for the generations to come. Usually, however, this is discussed in the realm of environmental policy. It is less common to hear discussions of sustainable growth as related to small businesses, large corporations, and every enterprise in between. But sustainable growth, though it comes with challenges, is ethical and essential for current and future communities to thrive Definition of SUSTAINABLE GROWTH

26 Enabling the Digital and Energy transition Investopedia gives a straightforward formula for calculating a company’s SGR: it is the Return on Equity (ROE) x (1 – Dividend Payout Ratio). But to understand the formula, one must first understand the terms within it. Return on Equity (ROE) is an assessment of a company’s profitability and can be determined by looking at the net income versus the company shareholders’ equity. The dividend payout ratio is simply the percentage of earnings per share distributed to shareholders as dividends. The methods for calculating sustainable growth make some baseline assumptions about businesses, their goals and desires. According to Inc., those are that the business wants to “maintain a target capital structure without issuing new equity, maintain a target dividend payment ratio, and increase sales as rapidly as market conditions allow.” The crux of the whole system is, indeed, on equity, since findings consistently indicate that most corporations are hesitant to issue new equity. For the rare company that goes against that norm, there are no financial constraints on its growth rate. Having an understanding of a company’s SGR offers useful insight into the organization’s daily operations and the efficacy of management. Are debts being paid off quickly? Is cash flow running as smoothly and efficiently as possible? Managers with measured understanding of sustainable growth can also set consistent sales growth objectives. When companies are operating above their SGRs, they must ensure their focus is on generating sales and on developing high-margin products. Armed with the knowledge of one’s SGR, these kinds of plans can be made for temporary stretches of time, but without it, an organization can face unforeseen issues and financial strains. One area where this could arise is in inventory management – without a baseline understanding of its SGR, the company may not sufficiently grasp what inventory is necessary to maintain sales and satisfy customer and stakeholder needs. If growth surpasses the sustainable rate for an extended period of time, financial strategies have to shift, often dramatically and to the company’s and its community’s detriment. HOW THE SUSTAINABLE GROWTH RATE (SGR) IS CALCULATED WHY KNOWING A COMPANY’S SGR IS USEFUL

27 WHY SUSTAINABLE GROWTH IS IMPORTANT New equity must be sold, or new debts taken on; dividends might have to be reduced, or profit margins increased. Companies are reticent to take such steps due to high costs, negative impact on company stock price (where the reduction of dividends is concerned), and numerous other factors. Growing too rapidly, therefore, presents a host of problems, and keeping an eye on SGR helps mitigate those risks. Sustainable growth is important for a number of reasons. Determining a sustainable growth rate takes some trial and error, but generally, trying to maintain a too-high SGR for an extended period creates problems. Companies eventually reach a sales saturation point as they become more profitable, and if they want to continue to grow, they must begin offering new or distinct products and services. If they grow at too rapid a rate, or begin offering services that decrease profitability, they may be sent back to the drawing board for new financing. On the flipside, if companies grow at too slow a rate, they risk stagnating, or only covering expenses rather than turning profits. Economists and researchers claim that a company’s growth strategy and growth capability are crucial to consider if sustainable growth is to be achieved. Insufficient focus on one or the other will result in losses over the long term, even though there may be short-term gains. But in any realm, from business to building, true sustainability is fundamentally about the long haul. INSIGHT | Doing business

28 Enabling the Digital and Energy transition FULL YEAR 2022 GUIDANCE €1,101 / €1,080 M €400 M ±15% Adjusted EBITDA Free Cash Flow Record €4.8 billion project orders secured in 2021

29 INSIGHT | Quarterly Overview “The recovery trend gained pace at the end of the year, allowing the Group to close 2021 with sharp growth in revenue and exceed the guidance previously announced to the market. For the first time, sales exceeded €12 billion, a record milestone, and Adjusted EBITDA grew sharply, with stable margins despite significant rises in commodity prices. In particular, our results were driven by the resilience of the Energy business segment and the recovery in Telecom. Flawless execution of submarine cable projects in progress also led to a recovery in the Projects segment, a business positively exposed to the energy transition, where the Group has reaffirmed its technological and market leadership, acquiring record orders worth approximately €4.8 billion in the year. With the aim of consolidating our position in the US market, we are also planning to build a new submarine cable plant in the USA. We have started 2022 with the same conviction and determination, which includes setting ambitious new targets for the year, with an expected Adjusted EBITDA in the range of €1,010 million to €1,080 million and a free cash flow target of €400 million ±15%.” Valerio Battista Chief Executive Officer RECORD SALES €12,736M, organic growth at +11.0% ADJUSTED EBITDA €976M (+16.2 vs 2020) STABLE MARGINS 7.7% (8.6% at 2020 metal prices vs 8.4% in 2020) GROUP'S NET PROFIT rose to €308M from €178M (+73%) SOLID PERFORMANCE across all businesses STRONG EXECUTION in projects in Q4 STRONG CASH FLOW GENERATION Free Cash Flow at €365M (vs guidance of €300M ±20%) Net Debt decreasing to €1,760M (vs €1,986M at 2020 year-end) CO2 EMISSIONS decreased by 22,1% compared with the baseline set in 2019 (certified by SBTi) PROPOSED DIVIDEND INCREASED to €0.55 per share (+10% vs 2020)

30 Enabling the Digital and Energy transition grew to a record €12,736 million, with an organic change of +10.9% (+13,6% in Q4); excluding the Projects segment, the organic change was +11.0%. The Energy business segment confirmed its resilience, with organic growth of +10.7% compared to 2020 and +3.8% compared to 2019, exceeding pre-pandemic levels. Trade & Installer and cables for renewable energy performed particularly well while Power Distribution demonstrated a strong recovery during Q4 in North America. The Telecom segment also benefited from the favourable trends within the US market, reporting +12.7% organic growth. Prysmian’s comprehensive execution in submarine cable projects was the main driver for the Projects segment, sharply accelerating in Q4 with a +34.7% increase over the same period of 2020, exceeding the Group’s expectations. rose by +16.2% to €976 million, exceeding the Group’s upper range of expectations and revised guidance of €920-€970 million. There was also a strong acceleration in Q4, with Adjusted EBITDA reaching €251 million (the best fourth quarter performance ever in the Group’s history). Exchange rates generated a negative impact of approximately €11 million during 2021. The Group result, net of the cumulative exchange rate effect in the two years (equal to €55 million) was higher than in 2019. Margins remained substantially stable, despite the impact of increasing metal prices, with the ratio of Adjusted EBITDA to Sales at 7.7% (8.6% restated at 2020 metal prices) compared to 8.4% in 2020. The Energy segment confirmed its resilience, particularly in terms of profitability, driven by the Trade & Installers’ crucial contribution, with Power Distribution also showing signs of a recovery in Q4, driven by US demand. Margins remained stable across the Telecom segment, due to efficiencybuilding measures and an enhanced product mix. The Projects segment recovered markedly, reporting an increased Adjusted EBITDA mainly driven by a record Q4 performance. was €927 million (€781 million in 2020), net of costs for company reorganisations, non-recurring expenses and other non-operating expenses totalling €49 million (€59 million in 2020). These adjustments mainly included nonoperating costs for €26 million and reorganisation charges for €21 million. amounted to €572 million, compared to €353 million in 2020. attributable to owners of the parent rose to €308 million compared to €178 million in the previous year. before acquisitions and divestments stood at €365 million (also excluding antitrust related flows), exceeding the guidance. Despite having paid dividends of €134 million, the strong cash flow generation resulted in significant reduction of Net Financial Debt, which amounted to €1,760 million at year end (€1,986 million at 31 December 2020). The significant deleverage was achieved thanks to solid cash generation of €365 million, excluding outflows from acquisitions and disposals amounting to €93 million and as cash inflow of €58 million related to an antitrust settlement agreement. The factors that allowed this level of cash generation: \ operating cash flows before changes in net working capital amounting to €883 million; \ cash outflows due to restructuring costs amounting to €24 million; \ cash outflows due to the €28 million increase in net working capital; \ net investment amounting to €275 million; \ net finance costs amounting to €79 million; \ paid taxes amounting to €120 million; \ collection of dividends from affiliates totalling €8 million Financial results Group Sales Operating Income Net Profit Free Cash Flow Net Financial Debt Adjusted EBITDA EBITDA

31 PRYSMIAN GROUP ANNOUNCES €1 BILLION PLANNED INVESTMENTS BY 2024 TO SUPPORT ENERGY TRANSITION INSIGHT | Quarterly Overview Prysmian Group has increased its planned investments to about €1 billion by 2024, mainly targeted at developing businesses that support the energy transition, which is coming into sharper focus because of geopolitical events. “Development of the trans-European power grid plays a strategic role in decarbonization and in the transition to renewable sources, as well as in improving EU energy autonomy — an urgent need that has returned to the fore with the RussiaUkraine conflict. As a global leader in the cable industry, we have decided to increase investments chiefly in support of energy interconnection projects and connections for renewable sources," comments Valerio Battista, Prysmian Group's CEO. This is a major investment plan aimed to consolidate Prysmian’s approximately 35-40% share in the high voltage submarine and underground cable market, which is set to grow to as much as over €8 billion a year in terms of projects awarded (2025 forecasts). In 2021 Prysmian acquired projects worth €4.8 billion. In early 2022, the Group was awarded the contract to build Neu Connect, the first power interconnection between Great Britain and Germany, a milestone project within the construction of the pan-European power grid. Significant investments will be made in expanding the production capacity and technological equipment of the key excellence centres for power transmission submarine cables. An investment of over €80 million will go to the Arco Felice (Naples) plant, which will be expanded, to increase capacity for awards including the Tyrrhenian Link interconnection. An investment of over €100 million will go to the Pikkala (Finland) factory, a centre of excellence for Northern Europe particularly focused on offshore wind farm cabling projects. Prysmian Group will also expand production capacity at the Nordenham plant (Germany) and in Drammen (Norway). The Gron plant in France, where the €1.8 billion in cables needed for the German HVDC “German Corridors” project are being made, will also get new investment. The Group is also accelerating its plan to build the first high-voltage submarine cable facility in Massachusetts, USA, which with an investment of approximately €200 million will be a hub of strategic importance for the development of the offshore wind power industry in the United States. The plant is necessary to support three new orders in 2021 in the U.S. market.