FISCAL POLICY

As a multinational Group, we make a significant contribution to the economic and social development of the countries in which we operate.

Our economic contribution in the various countries where we are present also takes place at the fiscal level and is reflected in different types of taxes, which can be grouped into the following categories:

• Income taxes, such as corporate income tax;
• Property taxes, levied on the ownership, sale, or lease of real estate;
• Labor-related taxes, which include taxes collected and paid to tax authorities on behalf of employees;
• Indirect taxes levied on the production and consumption of goods and services, such as VAT, customs duties, etc.

In 2024, the Group recorded an effective tax rate of 24% (17% in 2023).

In general, the high volatility of the Group’s tax rate depends on the geographical distribution of pre-tax results and the rules applicable in the tax systems of the various countries (including differences in tax rates), as well as on specific contingent situations that may have a significant impact. Specifically for 2024, the tax rate is mainly influenced by two factors:

• The non-recognition of deferred tax assets on losses incurred during the year by certain subsidiaries;
• The positive impact on Fincantieri S.p.A. and some Italian subsidiaries resulting from participation in the national tax consolidation scheme promoted by Cassa Depositi e Prestiti S.p.A.

Since 2021, the Fincantieri Group has adopted a Tax Strategy which, inspired by the principles outlined in the Code of Conduct, defines the Group’s objectives in relation to tax matters and sets out the guidelines for their practical implementation.