I.CO.P. (ICOP) investor relations material

Company history and positioning

• Over 100 years of evolution, with milestones in engineering innovation and international expansion.

• Market leader in underground works in Italy, with a growing global footprint and recent acquisitions in the US and Italy.

• Specializes in microtunneling, foundations, and maritime works, with a strong focus on high-margin, niche segments.

• Strategic partner in the Eteria Consortium, enabling access to large-scale infrastructure projects.

• Demonstrates high productivity and EBITDA generation compared to specialist competitors.

Public company journey and growth

• Achieved all IPO objectives within 24 months, including R&D, market entry, and major acquisitions.

• Acquisitions of AGH and Palingeo expanded US presence and strengthened Italian market leadership.

• Built a central role in the development of the Port of Trieste, a key logistics hub.

• Delivered strong financial growth: revenues up 375%, EBITDA up 349% since IPO.

Organic growth strategy

• Focuses on developed markets (EU, US) for size, profitability, and stability.

• Special foundations market expected to grow 40% faster than the broader construction sector.

• Microtunneling and maritime works identified as high-growth, high-margin opportunities in both EU and US.

• Robust backlog (~1.5B €) and pipeline provide multi-year revenue visibility.

• R&D and innovation, such as the RoboGo platform, drive productivity and future growth.