Altrad 2026 Strategy - "It all begins with a desire to create a better tomorrow”

Altrad 2026 Strategy “It all begins with a desire to create a better tomorrow�

Introduction 7,250+ people working across the UK and Ireland

We work tirelessly to solve our clients’ challenges innovatively, creatively and as a team – we are characterised by curiosity, a trait that helps us find solutions to the most complex of challenges. We work collaboratively with each other and our clients to find a better way, and never stop asking “what if?”.

Our approach is simple, we are a proactive business who strives to be the best we can be, for our people, our clients and those around us. We work in some of the most challenging and hazardous environments, supporting our nation’s vital assets, to deliver the critical services upon which our modern, daily lives rely.

Our history in the UK and Ireland dates back to 1893 and over time we have grown organically and by acquisition to create a business of scale. In 2017, our UK businesses integrated to create the Altrad you are familiar with today.

The true value of Altrad resides within its people – the ingenuity of our people creates endless possibilities. With over 7,250 talented people working for Altrad across the UK and Ireland, we recognise the importance of having an inclusive culture in which all of our people can thrive – where they are encouraged to bring their whole self to work. Our agile and innovative approach, enables us to work collaboratively with some of the world’s most respected companies.

We pride ourselves on our commitment to understand our clients’ needs, working together to deliver value-enhancing solutions.

Our approach to business will change the way that our clients work – but it is our impact on sustainability, the environment, and the communities within which we work, that will be our true legacy.

Each day we continually improve and deliver excellence in all we do.

Our approach Our approach is simple, we invest in our people encouraging them to use their ingenuity to create a better tomorrow – an engagement with Altrad always starts by exploring a better outcome.

We recognise our business has an impact. We have a responsibility to our clients, our people and the communities within which we work – we understand that to achieve success in the long term, economic growth must be sustainable.

We minimise our impact on the environment as we transition to a low-carbon economy.

Driven by our values, they underpin our approach to business and are at the forefront of every decision we make. Our vision and values are at the heart of our strategic direction.

Respect We treat people with consideration, regardless of their position. We conduct our business in accordance with exemplary standards of transparency, integrity and honesty. We hold a deep sense of responsibility towards all of our stakeholders and the environment we work in.

Solidarity Solidarity is about teamwork and reliability.

We collaborate and contribute to the different projects we undertake together by sharing ideas and opportunities, knowledge and resources. We support and stand up for each other. We always foster open and collaborative relationships and we put the common good before personal interests.

Courage We are eager to reach out beyond new boundaries and we are willing to explore innovative ways of thinking and working. What we do is therefore not easy; we are entrepreneurs and thus take risks and challenge ourselves all the time. Our objective is always to achieve the best outcome despite the difficulties.

Humility We are open to differing points of view and are convinced that we can learn from anyone, anywhere. We always act and lead in a manner that expresses a spirit of inclusion. We learn from mistakes and successes in equal measure and, above all, we never underestimate our competition. For every project, we seek and provide honest feedback to reach our goals by continuous improvement.

Paudie Somers CEO UK, Ireland & Nordics

Conviviality Every day we try to create a work environment that reflects the spirit of our teams, based upon commitment and open-mindedness. Together, we know how to share and to collaborate in a convivial spirit. We also celebrate success and combine functional excellence and cross-functional teamwork to produce exceptional ideas and results.

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Why change our strategic direction?

Our markets are changing faster than at any time in our lifetime, driven by growing concern over climate change, the energy transition and rapidly advancing digital technology.

During the next five years we will develop our business through organic growth, acquisitions and extending our service offering for our clients.

In 2021, we remain the leading provider of support services, but we are entrepreneurs, and as such, our mindset naturally gravitates to improvement and growth.

Our determination to be even more successful and to further evolve our business within this ever-changing landscape, requires a refocused approach.

Or as we prefer to express it:

The Altrad 2026 Strategy

“It all begins with a desire to create a better tomorrow”

The outcome of this process provided a route map to our new growth-driven strategy.

During 2020, the Altrad leadership team undertook a strategic review of our business which included: • An assessment of Altrad’s operating structure, to consider how best it could be structured to reduce risk, complexity and position it to better face its markets.

• An assessment of the trends and macro market dynamics in Altrad’s current markets.

• A high-level review of alternative markets and additional service lines.

• A critical analysis of Altrad’s competitors considering differentiators and the different services provided.

• An assessment of the types of services valued by Altrad’s clients and what new services they might desire.

• An external view of Altrad in terms of its capability, competence, reputation, ease of doing business with, commercial attractiveness and financial stability – using referencing sourced from existing clients, potential clients, competitors and other market stakeholders.

STRATEGY DEFINITION

Shareholder views:Scale/objectives/timing

Value proposition

SITUATIONAL ANALYSIS

Services

Market Competition Market dynamics

Review

SW OT Stakeholders

Measurement

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Visualisation & communication

Vision Objectives Changes

Markets

Learning/skills Innovation Acquisition & disposals

Strategy into action

“ It all begins with a desire to create a better tomorrow.”

In today’s global, digitally connected market, sector convergence sets industries and organisations on a collision course – revealing both opportunities and threats in the shape of new markets, broader capabilities, technologies and competitive behaviours.

To thrive, we will focus on looking forward and being agile in our approach to allow us greater control and visibility over our strategic actions. We will need to execute our strategy within an operational model that accelerates momentum, locks down value and de-risks decisions and actions.

Welcome to our new Altrad 2026 strategy – “It all begins with a desire to create a better tomorrow”

A better tomorrow for: Our people Our workspaces will be places for growth, with rewarding and exciting careers created by people who come together from all backgrounds to share their ideas and talents. We will create an appreciative culture recognising the performance of our teams through a range of programmes including our Altrad Inspire Awards. Delivering excellence will be rewarded as we want to build a business that lifts and motivates everyone to be the best they can be.

Our clients We will grow our market share in our existing markets and enter new ones, whilst continuing to provide extraordinary outcomes for our clients – allowing them to focus their time on their core-business activities.

Our environment

Our people

Our communities

Our clients Our shareholders

We will acquire businesses that share our excitement, vision and values – bringing new capabilities and services to Altrad.

We will form strategic partnerships with other like-minded businesses allowing us to offer value to our clients, at every touchpoint.

Our shareholders We will continue to provide market-leading returns for our shareholders, such that investment in our business is a compelling proposition.

Our communities We make a positive difference to the communities within which we work – we operate a structured corporate social responsibility (CSR) agenda, which is underpinned by our values of humility, respect and solidarity, to create our true legacy.

Our environment Our impact on sustainability and the environment will be supported by our ambition to become a net carbon zero business by 2030, or sooner. We respect the environment and will relentlessly pursue actions that enhance it further. We will use our ingenuity to positively affect our environmental impact.

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Defining our “better tomorrow” Our new strapline, mission and vision brings our “better tomorrow” into focus.

Our people will be the ones who help shape our future, so it makes sense they are the heart of our approach.

Our strapline says it all:

The ingenuity of our people creates endless possibilities

Our mission reflects who we are, what we do and our approach:

We are the critical human infrastructure that support our nation’s vital assets Our ingenuity creates value by developing sustainable solutions for the markets we serve.

Our business is progressive, driven by sustainable relationships and we nurture these relationships with our clients, our people and all our stakeholders.

Core values guide our behaviours with respect and humility underpinning our approach.

We invest in the communities where we live and work, we care about our people and creating a diverse and inclusive workforce - and we celebrate success together. Our people make a difference in the world as we solve critical challenges through innovation, creativity and teamwork. Quite simply, a journey at Altrad begins with a desire to create a better tomorrow.

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Our vision defines what future we aspire to create and where we are going:

We work relentlessly to overcome challenges – building a sustainable future We aspire to be the most trusted and valued support services company – learning from the ingenuity of our people to deliver extraordinary outcomes for our clients. The critical infrastructure markets we serve enhance the lives of millions – we contribute by creating safer, innovative, and more cost-effective ways of working.

Our workspaces will be places of growth, with rewarding and exciting careers created by people who come together from all backgrounds to share their ideas and talents.

Our approach to business will change the way that our clients work – but it will be our impact on sustainability, the environment, and the communities where we work, that will be our true legacy.

Seven strategic shifts – repositioning us for a “better tomorrow” The secret to unlocking growth is to make deliberate choices, about where to invest and where to focus our energy. Our strategy is about deliberately choosing to be different tomorrow and delivering excellence in everything we do.

Our strategic business review identified seven development opportunities that will enable us to become even more effective – the first of which has already been enacted.

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Our new organisational structure allows us to face our markets in a logical manner, transforming it into a dynamic, agile and responsive structure, which is right for our business. It means our communications channels are easier to access and we have shifted the basis of decision making closer to our clients.

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Our refresh of the Altrad brand is now complete – supported by our new website, refocused social media channels, new vehicle liveries and other supporting materials - we are now in position to raise awareness of Altrad’s brand to existing and future clients, new employees and other industry stakeholders.

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Enhancing the relationships we have with our clients sits at the heart of our new strategy. We will start by understanding their true levels of satisfaction via a client satisfaction survey – using this feedback to propel our new key account management (KAM) process. The aim of these activities is to transition Altrad from being a good supplier of services to a strategic partner which supports its clients in delivering their strategic objectives.

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Organic growth in our existing markets is a key aspect of our growth agenda. For all key bids, we will follow a strategic bid process, which will ensure we are better pre-positioned for these opportunities and understand our clients’ objectives in greater detail, to increase our tender success rates.

Our digital transformation will become embedded in our daily lives. We will listen to what our data is telling us, adding value to our clients through efficiency, performance and data driven solutions. We will continue to develop our digital skills and capabilities to the benefit of our clients and our people, enhancing our performance and delivering excellence every day.

We will enter into targeted new markets to diversify our business to ensure it offers a resilient and balanced portfolio of clients as we combat the decline in some of our markets. We will achieve this organically or by acquiring new businesses with technically led skills that operate in different markets – transferring their skills into the markets within which we operate.

We will diversify our service offering via the acquisition of new businesses and develop our existing skills to create a business of scale, which will provide greater value to our clients, focussing our efforts in four key areas:a. Asset management b. Inspection

c. Environmental d. Supplementary engineering services

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Our 2026 growth agenda Our growth driven agenda requires us to continually evolve, as our markets and sectors change. Delivering transformational growth will require an entrepreneurial mindset, courage and ingenuity – a characteristic that typifies Altrad and its people.

In 2026, we will be a business of considerable scale – we will be almost 75% larger than we are today.

We will be more diversified in terms of the services we provide and the markets we serve, providing enriched growth opportunities for our people. Diversification will make us a more resilient, stronger business which is able to absorb an economic shock or a downturn in any of our chosen markets. This will provide security to our people, our clients and our shareholders.

+10%

REVENUE GROWTH (%) +11% +12% 13% +13% +16% -3%

Whilst we deliver our growth ambitions, we will continue to be guided by our core values and our aspiration to be the most trusted and valued support services company – learning from the ingenuity of our people, to deliver extraordinary outcomes for our clients.

During the period, will see our backlog (work secured but not yet executed) grow by 93%.

+9% +10%

BACKLOG GROWTH (%) +11% +12% 13% +13% +16%

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We will acquire new businesses that bring new skills into Altrad and provide us with the opportunity to enter new markets.

Whichever business unit or functional team you support you will see growth becoming a feature of your daily life – it’s an exciting time to work for Altrad. The future will provide exciting opportunities for our people, our partners and our supply-chain, whilst continuing to support the local communities within which we work.

Our business unit directors are developing their plans and strategies to deliver these growth objectives - and you’ll hear much more about that during 2021.

REVENUE GROWTH BY BUSINESS UNIT (%) 121%

111% 67% 38%

46%

61%

“ Our growth journey will be an exciting one – creating endless possibilities for us all.”

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Our 2026 growth agenda Our growth journey will be driven by three strategic elements:

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Retain Client satisfaction Key account management

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Develop Strategic bid management Organic growth New skills & capabilities

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Acquire Strategic partnerships Strategic acquisitions

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Retain In early 2021, we will launch our client satisfaction programme which will provide us with an independent health check of our existing client relationships. We will use the data driven from the client satisfaction programme to formulate our key account management (KAM) approach.

Our new KAM initiative will then support and grow our client relationships – positioning Altrad to deliver the strategic objectives of its clients.

Develop During 2021, we will extend our strategic bid management process to all our key bids, allowing us to pre-position effectively and positively influence our tender success rates.

We will organically develop new skills and capabilities to add to our extensive service offering, providing enhanced value to our clients and career development opportunities for our people.

Acquire We will acquire businesses that share our excitement, vision and values – bringing new capabilities and services to Altrad. We will also form strategic partnerships with other like-minded businesses allowing us to offer value to our clients, at every touchpoint.

Our acquisitions will complement our existing skills – providing a more compelling service for our clients.

Our initial acquisition focus will target:

Asset management

Inspection

Environmental

Supplementary engineering services

“ By 2026, we will have grown by almost 75% in size and will continue to be the leading provider of support services.”

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Our people strategy At Altrad, we want our people excel in their roles. By putting them at the heart of our strategy, we ensure our strategic aims are delivered whilst developing opportunities for our people to grow and thrive.

Our human resources (HR) teams facilitate this objective for our people whilst championing our core values in everything they do.

Our people strategy is built around three key pillars:

Recruit

Retain

We will be the employer of choice and will recruit the best people in the industry from a diverse range of backgrounds to help us achieve this goal. We are implementing new sourcing strategies which utilise the latest technology and recruitment processes to simplify the task for our hiring managers supporting them to achieve our recruitment targets. We’ll be driving Altrad’s plan to fully digitise the way we work and we’re rolling out a new onboarding system. This will provide successful candidates with a central platform to access their onboarding documentation, their contract, specific site information, the induction video and further information about Altrad. We will streamline our hiring process, allowing our people to enjoy the excitement of taking up a new role, accelerating them into our organisation and values.

We will listen to our people, helping them to grow in our forward-thinking culture by offering them opportunities to develop their careers and skills, enhancing our ability to retain the best people.

We will offer all our people access to tailored learning opportunities, which could be vocational, online (using the latest virtual technology) or via mentoring, helping inspire them to be the best they can be. Our learning and development (L&D) team will help drive a performance culture and align our people’s career aspirations with organisational goals. We will provide opportunities for people to become multiskilled, thereby developing their careers whilst enhancing the value we deliver for our clients. Our leadership development and affinity programme will nurture our future leaders, helping us build a more diverse future.

We will reward performance excellence, building an organisation which recognises high performers and motivates everyone to be the best version of themselves. The culture we’re building will give everyone the opportunity to perform and achieve their goals, delivering excellence every day.

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Reward

Equality, diversity and inclusion is at the forefront of our thinking. We recognise the value that a diverse company offers, and we embrace our differences to offer extraordinary outcomes for our clients.

Irrespective of religion, gender or sexual orientation, Altrad provides its people with an opportunity to excel.

As we move forward, we will bring all our people together within one unified Altrad employing entity.

This strategic change will create a single Altrad team throughout the UK and Ireland – providing greater flexibility and increased opportunities for our people - whilst promoting solidarity.

We care about the health and wellbeing of our people. We offer a 24-hour employee assistance helpline for any of our people who require someone to talk to - regardless of the problem. We connect with our people via our extensive communication channels offering advice and support, highlighting the importance of good physical and mental health.

We want people to appreciate that advice and support is available - when and where they need it.

Whilst working for Altrad, our people will be supported by HR in everything they do. Our shared services are always on hand to assist with recruitment, L&D, payroll and HR requests.

Moreover, we have dedicated HR business partners and training practitioners out in the field working collaboratively with our teams at our sites and at our offices.

Our human resources teams are equipped with a clear vision of the future, we will support them with strong leadership and supplement their skills by employing industry experts. Collectively, this will reposition the team into a client focused support function, adding value to every one of our people.

The true value of Altrad resides within its people, which is why we have launched our Altrad Inspire Awards. Awarded annually, our inspire awards recognise the hard work and achievements of our people. By celebrating their positive achievements, we continue to build a positive, inspiring working culture where our people feel proud to work.

People’s Choice Award Living our values

Championing Sustainability Award

Driving Diversity & Inclusion Award

Young Achievers Award

Exceptional HSEQW Improvement Award Excellence delivered

Exceptional Client and Contract Performance Award Excellence delivered

Impactful Innovation and Digital Transformation Award

“ We will be creating a more appreciative culture by launching our Altrad Inspire Awards.”

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Our Health, Safety, Environment and Quality (HSEQ) approach Our proactive approach means we are constantly reviewing, analysing and testing our procedures, to ensure we maintain our industry-leading position.

We will achieve this by implementing a modern integrated management system that leverages digital solutions, which will enable our business to analyse data in real time, allowing us to focus on leading indicators and early warning signals.

Our HSEQ strategic agenda promotes the following outcomes:

1 Exposure reduction Identify, develop and implement technology and ways of working that eliminate or reduce exposure to health & safety hazards, environmental impact and quality failures.

2 Digital transformation Implement digital tools, systems and work methods that improve risk awareness, whilst minimising bureaucracy and administration burdens.

3 Cultural development Foster a self-sustaining culture of safe behaviours and quality driven outcomes by openness and the reporting of positive interventions and learning.

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Our medium-term focus will be directed as follows:

Sa

fe

En

ty

vir

on m me an nt ag al em en en erg y t

1 Safety Ensure we have effective systems in place, and they are being adhered to consistently via our integrated management system.

Controls and systems implemented to manage process risks.

2 Health & wellbeing

& lth a He

g in be l l we

us uo n i nt t co men & ty ve ali pro u Q im

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4 Quality & continuous improvement PLAN – identify what will happen if change occurs.

DO – implement the change.

STUDY – observe and measure what happens.

ACT – adjust the solution, based upon observations & learning.

Focus on our workplaces, our people and their wellbeing.

Develop skills and capabilities to preserve, protect and promote the health and wellbeing of our people, so that they can excel.

3 Environmental energy management Promote environmental sustainability in all that we do.

Decrease carbon emissions by reducing energy usage, moving away from carbon intensive fuels, transitioning to low or zero carbon power generation sources.

Optimise energy purchases and identify opportunities to reduce our impact on the environment.

The HSEQ function will provide strategic direction, policy, process, overview and advice to our operational businesses to support their ongoing improvement agenda.

Our HSEQ team will evolve to provide thought leadership and intelligent reporting, adding value to our operations at every touchpoint – our HSEQ team will grow and will be provided with rewarding and exciting careers.

Our Excellence Delivered tools will help transform our teams into a learning centric organisation, where we will strive to be better tomorrow, in all that we do.

“ Our ambition to become a net carbon zero business will remain at the forefront of our plans – aiming to be carbon neutral by 2030 or sooner.”

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Our financial strategy Delivering 75% growth requires control, ingenuity and agility.

Our finance and business services function will transition into efficient and scalable centres of excellence; we will add value working in collaboration with all our stakeholders, driving business performance and delivering compliance and assurance, thus enabling the business to run smoothly.

Our support activities will run harmoniously ensuring; best value and timely delivery of goods and services to site, timely payment of our people, our partners, subcontractors and suppliers, and efficient cash collection from our clients.

Our systems, processes and controls will be efficient and automated where practicable, providing capacity for our growth-driven agenda. Our corporate structure will be simplified to reposition it for efficiency and readiness for the future.

We will work in partnership with the operations and commercial teams to deliver insightful analysis of performance, focussed on the quality of our earnings.

Most importantly, our finance teams will grow and develop into thought leaders, who use data and reporting to add intrinsic value at every touchpoint.

Inspiring people to grow Recognition & reward Development opportunities Inspiring hearts and minds

Enhancing controls & processes Standardising processes Measuring what’s meaningful Marginal gains everyday Developing assurance maturity

Entrepreneurial culture Flexible working

Optimising corporate structure Simplified UK trading entities

Automating our systems Investing in automation A scalable system Systems ready to embrace new business

“ An efficient, scalable centre of excellence to support our growth ambitions�

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Scheme of arrangement (SOA) fit for purpose Tax & treasury fit for the future

Commercial development Delivering exponential growth requires enhanced commercial controls.

Our commercial function will work collaboratively with our operations teams to create greater visibility and understanding of our performance, to ensure we deliver efficiently for our clients and generate opportunities to enhance value. By adopting a ‘digital by default’ approach, we will be able to manage our transactions in a more informed and timely manner.

We will provide the opportunity for our clients to access our dynamic performance dashboards and view the data in a real-time environment.

The commercial team will work seamlessly with finance and operations to ensure our performance is predictable and the best it can be. Plans to enhance cash generation and quality of earnings will be implemented, using a single source of data to make agile and informed decisions.

We will embrace commercial innovation in our winning work plans to drive growth within our business.

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Our commercial team will have an outwardly focused, proactive approach, seeking every opportunity to use our performance data to drive efficiency for both Altrad and its clients, delivering excellence everyday.

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Increased use of technology and performance data

Creating innovative contracting models for our clients

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Greater visibility of our cost structures, increasing cost certainty

Development of the skills and capabilities of the commercial team

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Digital transformation Combining the power of digital innovation with Altrad’s decades of problem-solving ingenuity.

Our industry is changing faster than at any time in our lifetime, driven in part by innovative technological advances. Our digital transformation will become embedded in our everyday lives.

Real time, single source data will inform our decision making and provide platforms for delivering our improvement agenda for our clients - enhancing the performance of their assets.

Digital transformation sits at the heart of our strategy as we embrace the opportunities it offers us to simplify and improve what we do. New digital tools and capabilities will improve our performance - enhancing the value we create for our clients and our stakeholders.

We will align our systems, standardising them and making them easier to use. We will become a ‘digital by default’ organisation, connecting all of our data sources together with one output - reducing the need for paper.

By using our data, we can utilise predictive analytics and Al to help formulate our future performance.

We will work with our clients and use the data we capture to enhance their asset knowledge and improve task delivery by adopting new ways of working - allowing us to add greater value to the way our client’s assets are maintained and operated.

Mobile connectivity and data-driven conclusions will allow our people to be more responsive and proactive in their approach and will support our teams as we learn new skills and techniques.

Digital innovation will partner Excellence Delivered and help us continually evolve and improve our business. We will create an environment that enriches our clients experience and supports our people with the ability to make swifter decisions at the workface, that drive our performance.

Our strategy is embedded within six pillars of development: 1. Aligning our systems

3. Paperless organisation

5. Data-driven, multiskilling

Standardisation of our systems

Clients connected, remote planning, estimating and supervision teams

Equipping our people with data to propel their multi-skilled abilities

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2. Connected data

4. Mobile connectivity

6. A I & predictive analytics

All data interconnected and automated

Palm top and mobile phone enabled technology adopted across the business

Using our data to predict future performance via self learning analytics platforms

Creating a better tomorrow ‘Every journey begins with a single step’ – our five-year strategy is our starting point on that journey. Over the next five years, we will grow and develop into a new Altrad, with new ways of working and new exciting markets to conquer.

Above all else, we will create a legacy we are all proud of, one where we are always moving forward and continually striving to be the best we can be.

By 2026, we will have grown by almost 75% in size and will continue to be the leading provider of support services across the UK and Ireland.

We will have achieved our seven strategic shifts, not only growing the business in its size but also developing and growing the services we can offer our clients and emerging as the clear market leader in new and untapped markets.

Our people will have joined us on the journey, developing their skills and knowledge to help push Altrad to the forefront of new clients’ thoughts.

We will continue to celebrate the successes of our people, making sure excellence is always rewarded and our people’s ingenuity is allowed to thrive.

By ‘creating a better tomorrow’ we will also have made great inroads into our sustainability and our CSR ambitions. We will continue to make positive impacts on the communities within which we work, as well as giving back to help in times of need.

Our volunteering programme will continue to flourish, and we will be well on our way to achieving our net carbon neutral target by 2030 or sooner.

Financially, Altrad will have grown too, with our business revenue increasing by almost 75%, setting us apart from our competition.

Most importantly, we will have achieved what we set out to achieve, working in partnership with our people, our clients and our stakeholders to leave a legacy we are all proud to have been a part of.

For our clients, Altrad will always be at the forefront of their minds, with our strategic partnerships stronger than ever. Our enviable reputation as the UK and Ireland’s leading provider of support services will be high on their decision-making agenda. Excellence Delivered will drive performance behaviours and support data driven thinking.

Our digital first approach will become embedded in our client’s operations.

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Altrad 2026 Strategy “It all begins with a desire to create a better tomorrow�