Prysmian (PRY) investor relations material

Deal rationale and strategic fit

• Acquisition accelerates expansion in North America, creating a one-stop shop for electrical infrastructure solutions and strengthening leadership in the U.S. electrification market.

• Combines complementary product portfolios and commercial networks, enhancing the solution provider strategy and increasing relevance with distributors and end customers.

• Well positioned to benefit from electrification and data center infrastructure investments, with enhanced exposure to long-term growth trends.

• Builds on a proven track record of successful North American acquisitions, broadening product portfolio and geographic reach.

• Enhances share of wallet and market leadership, especially in the fast-growing data center segment.

Financial terms and conditions

• Enterprise value of $3.8 billion (€3.3–3.8 billion), or $95/€95 per share in cash, representing a 23% premium over the 90-day VWAP as of July 31, 2026.

• Transaction funded by a mix of approximately 60% debt, 20% equity, 20% hybrid debt, and treasury shares disposal, preserving investment-grade rating.

• Pro-forma Net Debt/Adjusted EBITDA expected at 1.4x by 2026 year-end.

• Transaction is EPS accretive in year one before synergies, with high single-digit to double-digit accretion post-synergies.

• Integration costs estimated at EUR 45–50 million over three years.

Synergies and expected cost savings

• Targeted $150 million (EUR 150 million) in annual run-rate EBITDA synergies within three years of closing, split roughly two-thirds commercial and one-third operational.

• Synergies to come from bundled offerings, expanded market access, procurement, manufacturing consolidation, and R&D collaboration.

• Additional upside possible from further cable production consolidation.

• Synergies expected to be realized evenly over three years (2027–2029).

• Synergies expected from improved service levels, efficiency, and vertical integration.