2025 Universal Registration Document

Transactions under the 2024/2025 and 2025/2026 share buy-back programmes

Gross values

Transactions carried out under share buyback programs
	31/12/2024		Increases: buy-backs		Decreases: cancellations and transfers		Reclassifications: transfers between accounts		31/12/2025
	Unit value in €	Value in €m	Unit value in €	Value in €m	Unit value in €	Value in €m	Unit value in €	Value in €m	Unit value in €	Value in €m
Shares bought back to use in payment or exchange	43.97	206	-	-			43.97	(206)	-	-
Shares bought back to be cancelled	-	-	-	-	68.33	(511)	68.33	511	-	-
Subtotal non-current financial assets	-	206	-	-	-	(511)	-	305	-	-
Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans	92.43	1,360	119.11	1,977	88.33	(237)	109.11	(305)	108.18	2,796
Subtotal current assets	-	1,360	-	1,977	-	(237)	-	(305)	-	2,796
Total cash transactions on VINCI shares	80.74	1,566	-	1,977	-	(747)	-	0	108.18	2,796

During 2025:

VINCI acquired 16,599,428 shares on the market at an average price of €119.11 per share, for a total of €1,977 million.
2,677,315 treasury shares were transferred to employee members of employee share ownership plans, notably in respect of the 2022Castor International plan and the performance share plan adopted by the Board of Directors on 12 April 2022. These share transfersgenerated an expense of €236 million, covered by a reversal for the same amount of provisions previously taken in this respect.
2,354,868 treasury shares, equal to around 0.40% of the share capital, were cancelled on 18 June 2025, and 5,116,945 treasury shares,equal to 0.87% of the share capital, were cancelled on 17 December 2025.

Impairment allowances

The €0.5 million impairment allowance recognised at 31 December 2024, based on the average stock market price of VINCI shares in December 2024 (€99.45), was reversed in full in 2025.

Number of treasury shares

Number of treasury shares
	31/12/2024	Increases: buy-backs	Decreases: cancellations and transfers	31/12/2025
Shares bought back to use in payment or exchange	Shares bought back to use in payment or exchange 31/12/2024 4,677,876	Shares bought back to use in payment or exchange Increases: buy-backs-	Shares bought back to use in payment or exchange Decreases: cancellations and transfers (4,677,876)	Shares bought back to use in payment or exchange 31/12/2025 -
Shares bought back to be cancelled	Shares bought back to be cancelled 31/12/2024 -	Shares bought back to be cancelled Increases: buy-backs-	Shares bought back to be cancelled Decreases: cancellations and transfers -	Shares bought back to be cancelled 31/12/2025
Subtotal non-current financial assets	Subtotal non-current financial assets 31/12/2024 4,677,876	Subtotal non-current financial assets Increases: buy-backs-	Subtotal non-current financial assets Decreases: cancellations and transfers (4,677,876)	Subtotal non-current financial assets 31/12/2025 -
Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans	Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans 31/12/2024 14,721,560	Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans Increases: buy-backs 16,599,428	Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans Decreases: cancellations and transfers (5,471,252)	Shares intended to be transferred to the beneficiaries of performance share and employee share ownership plans 31/12/2025 25,849,736
Subtotal current assets	Subtotal current assets 31/12/2024 14,721,560	Subtotal current assets Increases: buy-backs16,599,428	Subtotal current assets Decreases: cancellations and transfers (5,471,252)	Subtotal current assets 31/12/2025 25,849,736
Total cash transactions on VINCI shares	Total cash transactions on VINCI shares 31/12/2024 19,399,436	Total cash transactions on VINCI shares Increases: buy-backs16,599,428	Total cash transactions on VINCI shares Decreases: cancellations and transfers (10,149,128)	Total cash transactions on VINCI shares 31/12/2025 25,849,736

At 31 December 2025, VINCI held 25,849,736 treasury shares directly (representing 4.44% of the share capital), for a total of €2,796 million or an average of €108.18 per share. All of those shares are allocated to covering long-term incentive plans and employee share ownership transactions.

VINCI sets up long-term incentive plans each year, which involve the granting of conditional awards of performance shares to selected beneficiaries. Under these plans, shares only vest at the end of a three-year period, subject to continued employment within the Group, and the number of shares that will vest depends on the extent to which the internal and external performance conditions are met.

3. Equity

Equity
(in € millions)	Capital	Share premium	Reserves and retained earnings	Profit or loss	Regulated provisions	Total
Equity at 31/12/2024	Equity at 31/12/2024 Capital 1,455	Equity at 31/12/2024 Share premium 14,162	Equity at 31/12/2024 Reserves and retained earnings 14,038	Equity at 31/12/2024 Profit or loss 1,784	Equity at 31/12/2024 Regulated provisions 12	Equity at 31/12/2024 Total 31,451
Appropriation of 2024 net income	Appropriation of 2024 net income Capital -	Appropriation of 2024 net income Share premium -	Appropriation of 2024 net income Reserves and retained earnings 1,784	Appropriation of 2024 net income Profit or loss (1,784)	Appropriation of 2024 net income Regulated provisions -	Appropriation of 2024 net income Total -
Distribution de dividendes 2025	Distribution de dividendes 2025 Capital -	Distribution de dividendes 2025 Share premium -	Distribution de dividendes 2025 Reserves and retained earnings (2,665)	Distribution de dividendes 2025 Profit or loss -	Distribution de dividendes 2025 Regulated provisions -	Distribution de dividendes 2025 Total (2,665)
Increase in share capital	Increase in share capital Capital 19	Increase in share capital Share premium 752	Increase in share capital Reserves and retained earnings -	Increase in share capital Profit or loss -	Increase in share capital Regulated provisions -	Increase in share capital Total 771
Decrease in share capital	Decrease in share capital Capital (19)	Decrease in share capital Share premium -	Decrease in share capital Reserves and retained earnings (492)	Decrease in share capital Profit or loss -	Decrease in share capital Regulated provisions -	Decrease in share capital Total (511)
Net income for 2025	Net income for 2025 Capital -	Net income for 2025 Share premium -	Net income for 2025 Reserves and retained earnings -	Net income for 2025 Profit or loss 1,845	Net income for 2025 Regulated provisions -	Net income for 2025 Total 1,845
Regulated provisions	Regulated provisions Capital -	Regulated provisions Share premium -	Regulated provisions Reserves and retained earnings -	Regulated provisions Profit or loss -	Regulated provisions Regulated provisions 4	Regulated provisions Total 4
Capitaux propres au 31/12/2025	Capitaux propres au 31/12/2025 Capital 1,455	Capitaux propres au 31/12/2025 Share premium 14,914	Capitaux propres au 31/12/2025 Reserves and retained earnings 12,665	Capitaux propres au 31/12/2025 Profit or loss 1,845	Capitaux propres au 31/12/2025 Regulated provisions 16	Capitaux propres au 31/12/2025 Total 30,896

At 31 December 2025, VINCI’s share capital amounted to €1,455 million, represented by 581,816,830 shares with a nominal value of €2.50 each.