Solid Performance amid Financial Uncertainty

Funding Update

• Against the backdrop of the ongoing uncertainty around timing and final contracts for the 190 kton exclusive project, the Company has been in negotiations with its lenders, the Dutch State and its agencies, other stakeholders, and its largest shareholder on a short-term funding solution. These discussions continue, and the Company continues to see avenues to reach a consensual solution to secure  short-term funding
• An extraordinary general  meeting of shareholders (EGM) will be convened for 22 December 2026 to ask shareholders to authorise the Executive Board, subject to Supervisory Board approval, to issue shares or grant rights to subscribe for shares up to the authorised capital, enabling the Company to act swiftly should opportunities to raise equity arise
• In parallel with its efforts to secure a funding solution, the Company, together with its advisors, is actively exploring strategic options
• Due to the uncertainties around this 190 kton exclusive project and/or a short-term funding solution, the Company faces a material uncertainty as to its ability to continue operating as a going concern taking into account a 12 months outlook period

Strategic and Operational Highlights

• Improved Safety performance: LTIF at 3.74 compared to 4.31 at the end of Q2 2026 and 5.37 at the end of 2025
• Stable production output on project at hand, consistently producing 4 monopiles per week
• Completion of  Baltyk 2&3, production for Oranjewind and East Anglia 2 projects progressing
• Output year-to-date of 211 kton (124  kton first nine months of 2025); 141 monopiles and primary steel for 46 transition pieces (69 monopiles and primary steel for 65 transition pieces in first nine months 2025)
• Leadership change effective 1 August 2026: Koen Bogers new CEO
• The Company has been shortlisted on various tenders for 2028+ and is in exclusive negotiations on one
• Tangible progress by policymakers in Brussels on level playing field measures for offshore wind supply chain
• Client’s FID on 190kton exclusive project still pending; estimated start of production remains mid-2027 as preparatory work continues

Financial highlights YTD

Quarter-on-quarter development

* Reference is made to section 'Definition and Explanation of use of non-IFRS financial measures' and 'Reconciliation of non-IFRS financial measures' for the definition, explanation of use and reconciliation

** Comparative figures are per 31 December

• Year-to-Date (YTD) contribution increased to €203.4 million (€127.8 million first nine months 2025):

  • €179.3 million from production of monopiles and transition pieces for offshore wind (WIND) (€105.7 million first nine months 2025);

  • €16.3 million from production of offshore steel structures (OSS)(€13.2 million first nine months 2025);

  • €0.5 million from Marshalling and Logistic services (€0.7 million first nine months 2025);

  • €7.4 million from other activities (€8.1 million first nine months 2025)

• Compliance with financial covenants at 30 September 2026 for solvency (37.8%) and net leverage (0.85x). Revolving credit facility of €50 million undrawn on 30 September 2026.

Outlook

near term

• Short term financing solution is critical to continue funding the ongoing operations
• Focus on safety, quality and predictability of our output
• Securing the 190 Kton exclusive project remains a key strategic priority
• Outlook for full-year 2026 adjusted EBITDA reiterated at €95 million

longer term

• Improving  tender pipeline of projects from H2 2028 onwards - but projects need to materialize on time and be awarded to Sif
• Need for energy independence and energy transition more vital than ever before
• Sense of urgency felt to accelerate offshore wind capacity in most European and Asian countries
• Regulatory support on national and supranational levels to safeguard level playing fields for manufacturing industries.

Background to the discussions with the Company's lenders

As noted in its interim results of 31 July 2026, the Company is in discussions with its largest shareholder and its lenders on its funding position. To allow time for negotiations on a bridge funding solution, the lenders under the Company's facilities agreement agreed to temporarily defer the scheduled term loan repayment of EUR 6.7 million due on 30 September 2026.

The Company has since continued to engage with various stakeholders on its funding position and is currently negotiating a bridge solution with the lenders and certain of its suppliers and customers. Any solution would remain subject to third-party consents and definitive documentation. No binding agreement has been reached to date, as negotiations on a bridge funding solution continue to progress. During this negotiation period, the €50 million revolving credit facility will not be available to the Company.

Long-term financial solution and further funding requirement

In addition, the Company will require a long-term financial solution and additional funding to address its capital structure and fund its business, including the period until the expected start of the 190 kton exclusive project. Such solution is expected to involve raising additional equity. The Company is concurrently exploring strategic options and is in discussions with several parties. In this context, the Company is recalibrating certain elements of its business plan based on the current market outlook and its tender pipeline.

As the source of funds, terms, structure and timing of a long-term solution have not yet been determined, this constitutes a material uncertainty as to whether a long-term solution can be achieved, and on what terms.

The Company will keep the market informed and will provide further updates as soon as possible in accordance with its obligations under the EU Market Abuse Regulation.

EGM

Considering the current funding challenges and to ensure that the Company is in a position to act swiftly should opportunities to raise equity arise, the Company will convene an Extraordinary General Meeting (EGM), to be held on 22 December 2026. At the EGM, shareholders will be asked to approve to authorize the Company’s management board, subject to approval of the Company’s supervisory board, to issue shares or grant rights to subscribe for shares up to the authorized capital of the Company. The Company is not in a position to provide guidance on the amount or type of any equity raise at this stage. The convocation, agenda and explanatory notes will be published in a separate press release, which will also be made available on the Company’s website.

Koen Bogers, CEO of Sif: “The third quarter has confirmed that the factory operates at the pursued levels of output, with upward potential. It was our choice to reduce the output of the factory at Maasvlakte 2 Rotterdam, to shift part of our order book into 2027 and walk a fine line balancing our order book completion with timely deliveries of foundations to our clients, and compliance with banking covenants. The main reason for this decision is to retain our core staff in which we have invested heavily for the past three years and that we need once a committed contract is secured for the 190 kton project and when demand for offshore wind foundations picks up again.  Of course we do all this in close contact and agreement with our stakeholders.

Looking at the results of our efforts in the first nine months of 2026 and more specific in Q3, it pleases me that lost time injury frequency (“LTIF”) over the past 12 months has improved where  numerous efforts and initiatives are starting to  pay off. In addition, sick-leave numbers have improved. I’m proud  that we have successfully completed projects for Equinor/Polenergia (Baltyk 2 & 3) and showed significant progress on the project for RWE/Total (Oranjewind) and that these projects have resulted in strong contribution of €32.7 million per month or €930 per ton for the quarter. 

The intentional shift of order book into 2027 will be effected amongst others by closing down one of the three production lines in our Maasvlakte 2 factory in Rotterdam from Q4 2026 while reducing our  operations in Roermond as of Q1 next year. This will result in lower tonnage and monopile-units output  from Q4 . The number of fte in Q3 decreased when compared to Q2 (minus 100 fte) and Q1 (minus 130 fte) and will decrease further in Q4 and in Q1 2027.

 Closing down one production line in Q4 2026 and Q1 2027  will contribute to a part of the necessary cost savings and enables us to conserve cash and retain experienced staff while timely delivering the required monopiles to our client Scottish Power Renewables for their East Anglia 2 project.

We are currently faced with a significant liquidity and funding challenge, caused by the culmination of a number of events including increased costs due to the challenges we faced with the ramp-up of the Maasvlakte II facilities as well as the consequential Liquidated Damages, a large market downturn and the delay of the 190kton exclusive project. This has resulted in the need for a short-term bridge financing towards clarity on the 190kton exclusive project, at which point we will look to structurally address our funding and capital structure.

We continue to plan for the 190 kton exclusive project in our order book to start production in the summer of 2027 and have undertaken preparatory works for a head start such as detail-engineering and factory layout design in close cooperation with the customer and our partners. This project is crucial for maintaining our core workforce at both locations, enable a more stable financial footing for the company to continue its business after 2027 and to flourish when volumes in offshore wind foundation demand would return which is currently expected from second 2029. With the customer, the state and the grid-operator still actively pursuing final agreement, we are faced with continued uncertainty on the final go-ahead.  All stakeholders are fully aware of the importance of this project.

Sif is a great company with the largest and most advanced monopile factory in Europe, a team with great know-how, superior craftsmanship and a perfect location. Finally, I would like to thank our people, suppliers, customers and key stakeholders for their hard work and dedication to Sif and continued strong collaboration and support. Looking forward to finalising our Oranjewind and East Anglia 2 projects, securing our 190 kton (2GW) exclusive project and winning subsequent projects for 2028-2030”.

INSIDE INFORMATION

This press release contains inside information within the meaning of Article 7 of Regulation (EU) No 596/2014 (the Market Abuse Regulation) and is published in accordance with Article 17 of the Market Abuse Regulation.

Calendar 2027

• EGM 22 December 2026
• Full year 2026 results and 2026 annual report 12 March 2027
• Q1 Trading update 14 May 2027
• AGM 2027 14 May 2027
• Interim 2027 results 30 July 2027
• Q3 Trading update 5 November 2027

Contact Information Sif Holding  N.V.

Fons van Lith

+31 (0)475 385 777

+31 (0)6 513 14952

f.vanlith@sif-group.com

About Sif Holding N.V.

Sif Holding N.V. delivers total solutions for the design and production of foundations for offshore wind farms, including logistics services and marshalling. Traditionally serving Northwestern European markets, Sif is expanding its global reach. The company operates two highly automated and flexible production facilities in Roermond and Rotterdam (Second Maasvlakte) and is recognized for technological leadership in rolling and welding heavy steel plates, built on 75 years of experience and innovative self-developed techniques and processes. Sif primarily manufactures monopiles, transition parts, and piles for anchoring jacket foundations of wind turbines in the seabed.

For the full release including Definition and Explanation of use of non-IFRS financial measures and reconciliation tables please refer to the PDF attachment