A NEW MILESTONE PRECISION / PERFORMANCE / INNOVATION SUSTAINABILITY / LISI AEROSPACE A DISCIPLINED, SUSTAINABLE GROWTH TRAJECTORY LISI AUTOMOTIVE THE AUTOMOTIVE INDUSTRY MOVING TOWARD A SUSTAINABLE FUTURE INDUSTRIAL EXCELLENCE, AN ONGOING COMMITMENT 2025 INTEGRATED REPORT / KEY HIGHLIGHTS
1 2025 Integrated Report - LISI 02 PROFILE LISI, A FAMILY-OWNED GROUP 4 E ditorial / 2025, a year of strategic realignment 6 An industrial legacy spanning nearly 250 years 8 LISI Group / Enduring businesses, a global footprint 10 Operational management 12 The Board of Directors 14 Our business model 16 O ur strategy / Four levers to support ambition and performance 18 THE GROUP’S HALLMARKS 20 LISI AEROSPACE 26 LISI AUTOMOTIVE 32 PERFORMANCE EXCELLENCE AS AN UNWAVERING STANDARD 34 C hallenges / Balancing economic performance and responsibility to achieve excellence 37 LISI Boost / Accelerating performance 40 Artificial Intelligence A new frontier for LISI CONTENTS 42 HR Transfo / Turning Human Resources into a driver of sustainable competitiveness 44 Customer Application Development / Bringing R&D closer to customer requirements 46 China / LISI AUTOMOTIVE turns competitive pressure into an industrial edge 48 CSR / Initiatives & Awards 2025 50INNOVATION TEST, LEARN, IMPROVE 52 Aligning innovation with market expectations 54 OPTIBLIND™: a solution developed with our customers, designed to meet their industrial challenges 56 Cutting buy-to-fly: the TYX challenge 58 WATCH OUT: an industrial philosophy 60 Electrified Heavy-Duty Vehicles: LISI AUTOMOTIVE rolls out its solutions 62 OTHER INFORMATION ABOUT LISI
LISI A FAMILYOWNED GROUP Dating back to 1777, the LISI Group is built on the legacy of its founding families. From the outset, they shared a long-term vision and common ambition: shaping excellence through an innovative, competitive and sustainable industry. With a global footprint, the LISI Group now comprises two divisions – LISI AEROSPACE and LISI AUTOMOTIVE –, 38 production sites and a workforce of more than 9,600. The LISI Group maintains a family spirit that prioritizes a longterm vision. Its vision, based on a CSR approach known as “3P” – People, Planet, Profit –, places sustainable development at the core of its strategy and rests on shared values. It forms the foundation of the divisions’ performance and excellence. 2 LISI - 2025 Integrated Report
CONTENTS 4 EDITORIAL / 2025, A YEAR OF STRATEGIC REALIGNMENT 6 AN INDUSTRIAL LEGACY SPANNING NEARLY 250 YEARS 8 LISI GROUP ENDURING BUSINESSES, A GLOBAL FOOTPRINT 10 OPERATIONAL MANAGEMENT 12 THE BOARD OF DIRECTORS 14 OUR BUSINESS MODEL 16 O UR STRATEGY / FOUR LEVERS TO SUPPORT AMBITION AND PERFORMANCE 3 2025 Integrated Report - LISI
4 LISI - 2025 Integrated Report PROFILE 2025 A YEAR OF STRATEGIC REALIGNMENT EDITORIAL Jean-Philippe Kohler Chairman Emmanuel Viellard CEO
5 2025 Integrated Report - LISI PROFILE 2025 will remain a landmark year in the Group’s history. With organic growth above 10% for the fourth consecutive year and a significant improvement in our results, we have reached new levels of performance. A key highlight of the year, the disposal of LISI MEDICAL enables us to refocus on our two core businesses: aerospace, which has experienced strong growth since 2019, and automotive, which is evolving in a rapidly changing market environment. STAYING THE COURSE... For LISI AEROSPACE, we are meeting the capacity demands of a rapidly growing market and strengthening our position as the world’s No. 2. For LISI AUTOMOTIVE, we have continued our strategy to lower the breakeven point while supporting the automotive industry’s transition to electric vehicles through the development of high added-value products. Our two pillars — innovation and operational excellence — support these efforts and drive our long-term vision. The Group is also investing in disruptive technologies that are reshaping the way we work: these innovations naturally enhance our operational excellence through the LISI Boost program, which unifies our continuous improvement initiatives and accelerates the transformation of our plants. Finally, artificial intelligence is enriching our understanding of systems, while never replacing human expertise. Our two pillars – innovation and operational excellence – sustain our efforts and shape our long-term vision. ... IN A COMPLEX ENVIRONMENT All these results are driven by our 9,634 employees worldwide, and this transformation is grounded in a conviction: staying close to the field and encouraging the sharing of experience. This is at the heart of our purpose: “Shape and Share Sustainable Links.” This vision guides our CSR approach, “3P” – People, Planet, Profit – both pragmatic and ambitious, extending the responsibility carried by our founding families for nearly 250 years. Our commitment to CSRD* reflects our determination to align operational realities with demanding future objectives. Our inclusion in the SBF 120 and CAC Mid 60 indices, along with our 2025 results, further demonstrates our strength and our ability to deliver on our commitments in a complex environment. This performance reinforces the confidence of our stakeholders and confirms the relevance of our long-term strategy, true to the legacy of our two founding families. * The Corporate Sustainability Reporting Directive (CSRD) is a European directive adopted in 2022 that strengthens companies’ obligations to disclose information on environmental, social, and governance (ESG) matters.
6 PROFILE OUR PURPOSE SHAPE AND SHARE SUSTAINABLE LINKS AN INDUSTRIAL LEGACY SPANNING NEARLY 250 YEARS 1777 THE BEGINNINGS: STEEL WIRE Frédéric Japy founded a watchmaking factory in Beaucourt. He was later joined by other families from Montbéliard and Belfort involved in steel wire processing. LISI was born from the convergence of these familyowned businesses. 1977 THE AEROSPACE JOURNEY The Group entered the design and manufacture of fasteners and assembly solutions for the aerospace industry. Today, the aerospace division ranks among the world’s Top 2 in the sector. 2002 THE GROUP BECAME LISI To differentiate itself from competitors and position itself as a multi-specialist on the international stage, the Group adopts the name LISI: Link Solutions for Industry. FIND OUT MORE LISI - 2025 Integrated Report
7 PROFILE 2011-2021 STRATEGIC GROWTH LISI AEROSPACE expanded its product range to include structural components and hydraulic fittings. LISI AUTOMOTIVE strengthened its presence in the United States through the acquisition of Termax and Hi-Vol Products. 2022-2023 STRATEGIC CONSOLIDATION Creation of a CSR Department and definition of our purpose: Shape and Share Sustainable Links. 2025 CONSOLIDATION The Group refocused on its aerospace and automotive businesses with the disposal of its medical business to SK Capital. LISI AUTOMOTIVE acquired POLYSEMBLE HUNGARY in Győr to strengthen its assembly solutions portfolio in Central Europe. 2025 Integrated Report - LISI
€1.75BN SALES REVENUE €161M EBIT €56.1M FREE CASH-FLOW * * Cash flow from operations minus net industrial capex and changes in working capital requirements. 8 LISI - 2025 Integrated Report PROFILE W ith nearly 250 years of history, the LISI Group draws on operational excellence and innovation to design and manufacture high added-value fastening solutions and components for the aerospace and automotive industries. It partners with customers worldwide to address today’s challenges and help build a more sustainable industry. LISI’s purpose – Shape and Share Sustainable Links – places social and environmental responsibility at the core of its strategy and collective approach. This shared commitment across all employees gives meaning to the Group’s actions, guides the way it operates to achieve its objectives, and lays the foundation for its future development. LISI GROUP ENDURING BUSINESSES, A GLOBAL FOOTPRINT 2025 AT A GLANCE BUSINESS AND PURPOSE 68% LISI AEROSPACE 32% LISI AUTOMOTIVE €1.75 Bn
€28.7M R&D EXPENSES €99.9M INDUSTRIAL CAPEX 9,634 EMPLOYEES 9 2025 Integrated Report - LISI PROFILE 16 sites in France 3 sites in Germany 1 site in Spain 1 site in Hungary 1 site in Poland 1 site in the Czech Republic 1 site in the UK 2 sites in China 1 site in India 1 site in Turkey 24 SITES IN EUROPE 2 sites in Morocco FOOTPRINT 38 PRODUCTION SITES ACROSS 14 COUNTRIES 8SITES IN NORTH AMERICA 1 site in Canada 5 sites in the US 2 sites in Mexico 2SITES IN AFRICA 4SITES IN ASIA
10 LISI - 2025 Integrated Report PROFILE Member of the Executive Committee OPERATIONAL MANAGEMENT THE EXECUTIVE COMMITTEE It brings together 10 members from Group Senior Management and the two divisions’ leadership. Its role is to ensure the sharing of all strategic and operational decisions across the Group. Alexis POLIN Chief HR Officer Pierre-Emmanuel KOHLER VP Information and Technology LISI Emmanuel VIELLARD CEO Cécile LE CORRE General Counsel Christian DARVILLE Senior VP Administration & Strategic development North America Raphaël VIVET Chief Financial Officer Christophe MARTIN Senior VP Industrial & Purchasing Anne-Delphine BEAULIEU Chief Sustainability Officer & Digital Transformation
11 2025 Integrated Report - LISI PROFILE THE LEADERSHIP BOARD It brings together 24 members representing key functions from each division and Group Senior Management. It defines and implements the Group’s operational strategy. François LIOTARD CEO LISI AEROSPACE LISI AUTOMOTIVE Scott WOOD Senior VP General Manger Business Group Fasteners North America Emmanuel NEILDEZ CEO Thierry JULIAT Senior VP General Manager Excellence Systems & Global Supply-Chain Wes J. GARDOCKI CEO LISI AUTOMOTIVE Termax Martin BELEY Senior VP General Manager Business Group Safety Mechanical Components Guillaume VINDEVOGEL Deputy CEO LISI AEROSPACE Guillaume LEMANACH General Manager Fasteners Europe Cédric DEJEAN Senior VP General Manager Business Group Fasteners Éric FERNANDEZ Senior VP General Manager Business Group Threaded Fasteners Françoise ZAUGG Finance, Marketing & Internal Control Director Vincent QUINAUX Senior VP General Manager Business Group Clipped Solutions Yannick MORVAN Chief Quality and Technology Officer François-Xavier DU CLEUZIOU Senior VP Strategy & Procurement Frédéric BALCERZAK Senior VP General Manager Business Group Structural Components Bénédicte MASSARÉ Senior VP Finance
14 11 12 6 12 LISI - 2025 Integrated Report PROFILE THE BOARD OF DIRECTORS as of December 31, 2025 Chairman of the Board of Directors 1 Jean-Philippe KOHLER Members of the Board of Directors 2 Bernard BIRCHLER 3 Isabelle CARRERE 4 Françoise GARNIER 5 SAS CIKO represented by Capucine KOHLER 6 Ingrid COYER employee representative board member 7 Compagnie Industrielle de Delle represented by Geoffroy KOHLER 8 Marie-Hélène PEUGEOT-RONCORONI 9 Pierre Eric POMMELLET 10 Véronique SAUBOT* 3 10 7 1 1
13 15 13 2025 Integrated Report - LISI PROFILE Independent board member Employee representative board member * Vice-Chairwoman and Senior Director. 11 VIELLARD MIGEON & Cie represented by Cyrille VIELLARD 12 Florence VERZELEN 13 Emmanuel VIELLARD CEO 14 Mohamed EZZENZ employee representative board member Secretary of the Board of Directors 15 Cécile LE CORRE 2 4 8 9 5
14 LISI - 2025 Integrated Report PROFILE Our teams 9,634 committed and engaged employees across 14 countries. A corporate university, LKI. Our know-how 204 experts within a LISI internal network. Nearly 40 members across all sites working on digital and AI. More than 40 AI agents across maintenance, IT, quality, and finance, supporting approximately 200 daily active users. Over 200 employees trained in AI across 4 countries. 20 patents filed in 2025.(1) Our industry 38 production sites across 14 countries. Including 3 sites recognized as “Vitrines de l’Industrie du Futur”. A ratio of 363 robots per 10,000 employees.(2) Approximately 10 collaborations with start-ups. Our commitment ISO 14001 & ISO 45001: a certification policy for all our sites. Internal excellence program LISI E-HSE, with all employees trained in the HSE program. A signatory to the Global Compact, French Business & Climate Pledge. Our robust financial situation €1,091M in equity. Net debt (€233.7M, - €254.8M/2024). OUR RESOURCES PURPOSE In line with its CSR policy, the LISI Group is accelerating its 3P strategy — PEOPLE, PLANET, PROFIT — by leveraging LISI Boost, its standards and tools, as well as its two core pillars, which form the Group’s DNA: operational excellence and innovation. SHAPE AND SHARE SUSTAINABLE LINKS OUR BUSINESS MODEL PURPOSE Shape and Share Sustainable Links. LISI BOOST Our operational excellence program to manage our plants and position LISI as a global industrial benchmark. 3P APPROACH A CSR strategy implemented at all levels of the company to support our purpose; our approach is structured around the 3P framework: PEOPLE, PLANET, PROFIT. (1) Filing of an invention through an e-Soleau envelope or initial patent application. (2) Articulated robots only. LISI deploys a wider range of automated solutions.
15 2025 Integrated Report - LISI PROFILE Our teams An attractive and supportive social model, including profit-sharing, incentive schemes, employee share ownership and employee savings plans. €629M in personnel expenses, or 36% of sales revenue. 28% female representation in management. TF1(3) = 5.8 Our customers €99.9M in industrial capex to meet customer demand, or 5.7% of sales revenue. €28,7M in R&D expenses. Our suppliers & partners €540M in procurement spend (raw materials, goods, tools, and other supplies). 69% of CSR-sensitive suppliers assessed in 2025. Our environment -43% of our greenhouse gas emissions versus the 2019 baseline on Scopes 1 & 2 and €3.1M in capex dedicated to carbon footprint reduction initiatives. 2% energy savings in MWh due to projects versus the N-1 consumption (on a constant scope basis). 1.4% of renewable energies produced on site. Government and local authorities 67% of sites located in water-stressed areas have an action plan. Our shareholders and financial partners Free Cash Flow: 3.2% of sales revenue. €0.46 dividend per share.(4) OUR ADDED VALUE PEOPLE 1Protect our employees 2Retain our talent PLANET 3Protect our environment 4Work with our territories PROFIT 5Go beyond our customers’expectations 6Involve our suppliers 7Secure our financial resources OUR 3Ps WITH OUR 7 AXES (3) Number of workplace accidents with and without lost time per million hours worked. (4) Dividend proposed at the General Meeting on 04/24/2026.
16 LISI - 2025 Integrated Report PROFILE OUR STRATEGY FOUR LEVERS TO SUPPORT AMBITION AND PERFORMANCE Rooted in the Group’s purpose —“Shape and Share Sustainable Links”—LISI’s mission is to design and deliver high added-value fastening solutions and components for the aerospace and automotive industries. As the heir to industrial expertise built over several generations, the Group draws on this technical heritage to combine performance, innovation and resilience, while contributing to a more inclusive and sustainable society. The disposal of the LISI MEDICAL division in October 2025 marks a key milestone in the Group’s history. It enables LISI to refocus on its two core industrial businesses, in a context of strong growth in aerospace and profound transformation in the automotive industry. This strategic refocusing strengthens the coherence of the Group’s portfolio and confirms its intention to concentrate resources on markets where it holds a sustainable competitive edge. A WELL-BALANCED STRAGEGY In this contrasted environment, LISI is deploying a balanced strategy: strengthening its positions in high-growth markets while differentiating its offering through operational excellence, innovation, and the adoption of disruptive technologies (notably with WATCH OUT, see page 58). The LISI Boost program (see page 37) plays a central role in this dynamic by unifying performance and continuous improvement initiatives across the Group, while the digitalization of processes and the gradual integration of artificial intelligence enhance analytical and decision-making capabilities, without ever replacing human expertise. This roadmap is organized around four interdependent levers. 1 LONGEVITY, first of all, which ensures the Group’s ability to invest sustainably while remaining close to the field, its customers, and its teams. It reflects the Group’s strong industrial roots as well as the long-term vision it stands for.
FIND OUT MORE 17 2025 Integrated Report - LISI PROFILE 2 EXCELLENCE, embodied by the LISI Boost program, which structures continuous improvement initiatives, strengthens the Group’s industrial competitiveness, and ensures a shared culture of continuous improvement. 4 SUSTAINABILITY, lastly, which reflects the Group’s CSR commitment around the 3Ps — People, Planet, and Profit — to balance environmental responsibility, social impact, and sustainable value creation. 3 INNOVATION, a driver of differentiation and growth, delivering added value through digitalization and the integration of disruptive technologies.
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19 2025 Integrated Report - LISI THE GROUP’S HALLMARKS As global industrial players, LISI AEROSPACE and LISI AUTOMOTIVE are the two backbones of the LISI Group’s business. These two core divisions bring together technological expertise, operational excellence, and innovation to serve global aerospace and automotive markets. CONTENTS 20 LISI AEROSPACE 26 LISI AUTOMOTIVE
20 LISI - 2025 Integrated Report In a fast-growing aerospace market, LISI AEROSPACE is expanding its industrial capabilities and accelerating its innovation programs. Emmanuel Neildez looks back on a pivotal 2025, marked by major capacity milestones and transformative investments. LISI AEROSPACE A DISCIPLINED, SUSTAINABLE GROWTH TRAJECTORY 2025 AT A GLANCE €1,191.1M (+ 15.6% / 2024) 68% OF GROUP SALES 6,630 EMPLOYEES 19 SITES ACROSS 8 COUNTRIES
LISI AEROSPACE 21 2025 Integrated Report - LISI INTERVIEW Emmanuel Neildez CEO LISI AEROSPACE Our industrial model and investment strategy allow us to sustain the global ramp-up while positioning ourselves for the future. How did the aerospace market perform in 2025? Since 2022, the aerospace sector has followed a trajectory of steady and robust growth. The year 2025 fully aligns with this trend, with growth across all market segments. This unprecedented environment is fueling the division’s activity, strengthening our market share, and confirming the strength of our positioning with major OEMs. It is also accompanied by a highly demanding operational context, with strong mobilization across all our sites to support production ramp-ups. How is the division managing this acceleration? For several years, we have been implementing a structured and phased ramp-up plan. It is built on three complementary workstreams: first, capacity investments, with the acquisition of next-generation equipment and extended production hours; second, the recruitment and upskilling of our employees, supported by enhanced training programs and career management through the HR Transfo plan (see page 42); and finally, the strengthening of long-term partnerships with our key subcontractors. In 2026, this momentum will be reinforced by the operational rollout of significant infrastructure investments, including the expansion of the Villefranche-deRouergue site (Occitanie region), the doubling of the Vignoux-sur-Barangeon site (Centre-Val de Loire region), and the modernization of the Saint-Brieuc plant (Brittany region).
LISI AEROSPACE INTERVIEW 22 LISI - 2025 Integrated Report What are the key investment and innovation priorities? We reached significant capacity milestones in 2025, as previously mentioned, while preparing for the future. Our R&D programs are progressing in line with our roadmap: the OPTIBLIND™ blind fastening system is expected to achieve its first qualification in 2026, the final step before industrialization (see page 54). The TYX process, meanwhile, opens major opportunities to reduce both material usage and energy consumption in the production of structural parts. Our ambition is to position these innovations on next-generation single-aisle aircraft, whose technical and environmental requirements will be far more demanding than those of current generations. How are you advancing on decarbonization and workforce skills transformation? Here again, we are continuing the trajectory set in recent years. On the consumption side, we are integrating increasingly energy-efficient equipment and continuously optimizing our manufacturing processes. We are also working with our raw material suppliers to improve recycling rates and reduce upstream carbon emissions. At the same time, digitalization and automation are profoundly transforming our jobs. To support this shift, the HR Transfo program helps us strengthen career management, retain our talent, and develop the internal skills we will need in the future. This approach aligns our organization with the most advanced industrial standards. What are LISI AEROSPACE’s ambitions toward 2040? Our objective is to be a strategic partner on nextgeneration aircraft and across all our product lines. To achieve this, we rely on product and process innovation to meet competitiveness challenges, operational excellence to maintain and strengthen customer trust, and deeper customer intimacy built on long-term dialogue and continuous engagement with key customers. This unprecedented, sustained momentum is strongly supporting the division’s activity, increasing our market share, and confirming the strength of our positioning with major OEMs.
LISI AEROSPACE FASTENERS STRUCTURE LATCHES The LISI AEROSPACE latches range is designed for tension and shear applications in confined environments. It combines innovation and operational excellence. Development, industrialization, and production capabilities have been significantly strengthened in France and California, including the doubling of our Vignoux-sur-Barangeon site. LEADING EDGE LISI AEROSPACE is a leader in the leading-edge market. These critical components ensure the structural strength of composite blades exposed at the front of engines and contribute to their aerodynamic performance. Its integrated manufacturing process optimizes raw materials and enables large-scale production of up to 30,000 parts per year. HYDRAULIC FITTINGS LISI AEROSPACE offers the most comprehensive range of aerospace hydraulic fittings, including separable and crimped, straight and forged designs in aluminum, stainless steel, and titanium. They are produced at our facilities in California and France, where development and industrialization capacities have tripled over the past three years. NUTS LISI AEROSPACE offers a broad range of high added-value nuts, with industrial excellence recognized by major aircraft manufacturers. The STARLITE™ family is expanding with new titanium versions featuring the in-house developed HI‑KOTE™ coating. WAVEGUIDES These components guide electromagnetic waves from one point to another within satellites. LAAM (LISI AEROSPACE Additive Manufacturing), a recognized expert in aerospace metal additive manufacturing, transforms these complex assemblies into single-piece components with optimized geometries for enhanced performance and reliability. OUR FLAGSHIP PRODUCTS LISI AEROSPACE designs, develops, and manufactures fasteners as well as assembly and structural components for the world’s leading aerospace companies. Its innovations help enable the design of safer, more fuel-efficient aircraft. OPTIBLIND™ is an innovative structural blind fastening solution that enables one-sided assembly of structures. The integrated “Inspect” control system, developed in parallel, ensures real-time quality control of each fastener, whether installed manually or in fully automated processes. BLADE Compressor blades compress air prior to combustion in engines and are critical components. LISI AEROSPACE masters their manufacturing through three processes: oversized forging for agility, precision forging for cost-effective series production, and billet machining for prototyping. FIND OUT MORE 23 2025 Integrated Report - LISI
LISI AEROSPACE 24 LISI - 2025 Integrated Report 2025 KEY HIGHLIGHTS 2025 PARIS AIR SHOW INNOVATION, TALENTS, AND DIGITAL TRANSFORMATION From June 16 to 22, 2025, LISI AEROSPACE took part in the International Paris Air Show, a key event for the industry, with a booth designed as a true journey through its expertise. Structured around the division’s main business areas and its historical products (fasteners and structural components), this nearly 250-square-meter space showcased the full range of capabilities supporting civil, defense, and space programs. Throughout the week, meetings with the division’s customers and partners fostered high-level discussions and helped advance future projects, such as the launch of the DIGIFAST program (see opposite page). A new feature this year, several employees selected by lottery were able to attend the event and experience the air displays along the runway, an immersive and unifying experience. OUR COMMITMENT TO DIVERSITY Many female students supported by the “Elles Bougent” association, which is committed to increasing women’s representation in industry, as well as representatives from the media platform “Les Meufs de l’Industrie”, met with LISI AEROSPACE teams. Hosted by Marie‑Anne Vidal, Metallurgy Methods Project Manager LISI AEROSPACE Villefranche-de-Rouergue, Elisabeth Willocq, R&T Director – Engine and Structural Components LISI AEROSPACE, and Asmaa Chagna, Chemical Products Manager LISI AEROSPACE, the event highlighted the Group’s commitment to diversity in industrial careers.
FIND OUT MORE LISI AEROSPACE 25 2025 Integrated Report - LISI INTRODUCTION OF DIGIFAST CONTROLLING CRITICAL ASSEMBLIES The Paris Air Show provided an opportunity for LISI AEROSPACE and CETIM to announce a collaboration agreement aimed at improving the control of bolted assembly installation. Named DIGIFAST, this project is a new milestone in the Smart Fasteners program launched in 2022 and supported through 2024 by the French Civil Aviation Research Council (CORAC) and the French Civil Aviation Authority (DGAC). DIGIFAST aims to develop, by 2027, a tightening torque measurement and control device that is high-performing, reliable, easy to use, and integrable into industrial production lines as well as aircraft maintenance operations. It will validate the robustness of the ultrasonic measurement technology demonstrated by Smart Fasteners in a representative industrial environment and prepare its industrialization. The goal is to advance technological maturity in order to secure critical assemblies and ultimately enable large-scale deployment and commercialization of this innovation in support of LISI Group’s industrial performance. DIGIFAST will address the requirements of the aerospace industry, as well as those of other industrial sectors (automotive, energy, etc.) where tightening control is a critical safety issue. SPOTLIGHT ON DIGITAL AND IA Finally, the Digital & AI hub showcased concrete use cases developed with partner startups (Fabriq, Mercateam, Ellistat, Aletiq, etc.). Led by AnneDelphine Beaulieu, Chief Sustainability Officer & Digital Transformation LISI, and Paul Malard, Industry 5.0 & AI Project Manager LISI, this space illustrated the Group’s transformation journey in support of industrial performance and operational excellence.
26 LISI - 2025 Integrated Report INTERVIEW François Liotard CEO LISI AUTOMOTIVE In the face of major shifts in the automotive industry, LISI AUTOMOTIVE is adapting its strategy to strengthen competitiveness and create longterm value. François Liotard, CEO of the division, discusses the 2025 priorities, key performance drivers, and growth outlook. LISI AUTOMOTIVE CREATING VALUE IN A CHANGING MARKET
LISI AUTOMOTIVE 27 2025 Integrated Report - LISI 2025 AT A GLANCE €558.5M (- 3.7% / 2024) 32% OF GROUP SALES 2,907 EMPLOYEES 19 SITES ACROSS 9 COUNTRIES In a rapidly changing automotive industry, our ambition is to be a leading player in the transition to electrified, connected, and sustainable vehicles. How do you look back on 2025? The year 2025 clearly represents a key milestone for LISI AUTOMOTIVE. In an automotive market with no meaningful volume growth, we continued to execute our strategy: focusing our product portfolio on high added-value solutions and sustainably reducing our breakeven point. Against this backdrop, revenue totaled €558.5M, down from 2024. However, this performance should be viewed in the context of the structural progress achieved. Over the past two years, we have reduced our breakeven point by nearly 10% by working across four key levers: first, optimizing our product mix, notably through the disposal of our Nomel subsidiary; second, developing higher added-value activities, reinforced by the acquisition of an industrial site in Hungary dedicated to plastic assemblies for lightweight electric vehicles; third, improving the economic performance of our suppliers while strengthening operational excellence and productivity across our plants; and finally, optimizing our fixed cost base by redeploying certain industrial activities in Europe and North America to more competitive locations. This transformation has mobilized all our teams and represents a key foundation for the future.
LISI AUTOMOTIVE INTERVIEW 28 LISI - 2025 Integrated Report Where do you stand on decarbonization and digital transformation? Our products for electric vehicles directly contribute to the automotive industry’s decarbonization efforts. We are also acting on our own operations through three types of initiatives: first, efficiency, notably by significantly reducing our water consumption; second, the use of low-carbon energy, with the installation of solar panels at two sites in Europe and two sites in China; and third, the decarbonization of our procurement, in particular through the use of low-carbon steel produced using electricity. At the same time, digitalization and artificial intelligence are also key drivers of performance. High‑volume production data, enabled by the rollout of our Manufacturing Execution System (MES), allows real-time line management with direct visibility into key performance indicators. The use of generative AI and image processing enhances quality control efficiency and accelerates commercial responsiveness. How do you see the Group evolving toward 2040? The automotive industry is both mature and undergoing profound change. In a zero-sum market, where one manufacturer’s growth comes at the expense of another, anticipation is essential. By 2040, battery electric, connected vehicles with high electronic content are expected to dominate the market. Our ambition is to be a fully engaged player in this transformation, expanding our customer base, delivering high added-value solutions for electrified, autonomous, and connected vehicles, and proactively managing our breakeven point, regardless of how the market evolves. What are your priorities for 2026? We remain fully committed to executing our strategy. We are steadily advancing the implementation of our product plan dedicated to vehicle electrification. This plan spans our full range of expertise: sealing fasteners for batteries, safety mechanical components for electric braking systems, and clipped solutions that contribute both to vehicle lightweighting and cable fastening, including high-voltage power cables. This product plan is highly ambitious: if all these solutions were integrated into a single electric vehicle, they would represent up to €200 of LISI AUTOMOTIVE products per vehicle. How is your geographic positioning evolving, particularly in China? We aimed to rebalance our exposure by engaging more closely with the Chinese industrial ecosystem, which accounts for nearly one-quarter of global automotive production. A targeted commercial strategy has enabled us to initiate promising discussions with OEMs such as BYD, Leapmotor, Li Auto, and Great Wall Motors. At the end of 2025, this ecosystem represents just over 4% of the division’s revenue, either directly or through parts manufacturers.
LISI AUTOMOTIVE ELECTRIC PARKING BRAKES These high-precision mechanical components play a critical role in vehicle safety and reliability. As electrification and automation continue to increase, the precision, robustness, and repeatability of our parts are essential to ensuring proper vehicle performance and safety. CABLE CHANNELS The increase in onboard electronic functions and high‑voltage architectures, as well as the growing electrification of vehicles, make cable channels a key element of vehicle safety. Our range ensures the protection and organization of vehicle wiring harnesses. AIRBAG TETHERS They enable the airbag to deploy safely, preventing nearby interior trim components from becoming projectiles. This ensures passenger safety inside the vehicle. Our parts are designed to meet safety requirements for the next 15 years and beyond. This solution is available in either a one-piece or two-piece design, depending on application needs. DRIVE CHAIN The rise of electrification introduces new requirements, particularly assemblies that provide full sealing. Our range of fasteners for electric powertrain systems ensures complete sealing while enabling secure component assembly. It also meets enhanced cleanliness standards in line with the most demanding requirements of electric mobility. FIND OUT MORE OUR FLAGSHIP PRODUCTS LISI AUTOMOTIVE produces high added-value fastening solutions and components that enable the design of safer, lighter, electrified, and connected vehicles. The division operates at a high level of excellence and contributes to the transformation of the automotive industry. 29 2025 Integrated Report - LISI
LISI AUTOMOTIVE 30 LISI - 2025 Integrated Report 2025 KEY HIGHLIGHTS DEPLOYMENT OF THE KAIROS AUTOMATION PROJECT The KAIROS project is deployed at the Delle 2 logistics site (in the Territoire de Belfort, near the Swiss border) and represents a key milestone in the industrial transformation led by the LISI AUTOMOTIVE division. Launched in 2023, this automation and robotics program supports the Group’s objectives in terms of strengthening industrial performance and improving working conditions. The structural transformation of the workshop it entails enables the automation of repetitive tasks such as handling containers, preparing bags, labeling, and palletizing batches of parts. IMPROVEMENT OF WORKSTATION ERGONOMICS The project is expected to significantly improve workstation ergonomics by eliminating material handling steps. The reorganization of the entire autonomous production unit (APU) responsible for sorting also makes it possible to streamline flows, reduce equipment footprint, and optimize the allocation of employees to each machine. The project has freed up industrial space to accommodate new developments, improved working conditions for teams, and generated significant productivity gains, notes Guillaume Renouf, Plant Manager of Delle & Dasle. By the end of 2025, 80% of the target volume had been transferred to the new Kairos line, and 74% of the expected gains had been achieved. Full deployment is scheduled for completion by the end of 2026. KEY PROJECT DATA €1.7M IN CAPEX 40 AUTOMATIC SORTING MACHINES RELOCATED AND MODIFIED 5 NEW INTEGRATED MACHINES 74% OF EXPECTED GAINS ACHIEVED
LISI AUTOMOTIVE 31 2025 Integrated Report - LISI The Aquiweb project, deployed in 2025, addresses a dual objective: simplifying the flow of information from the shop floor to the management system and supporting operators in the execution of their daily tasks. This digital tool, developed by Astrée Software — who has been supporting LISI AUTOMOTIVE since 2019 — initially centralizes production data (parts produced, scrap, downtime causes, work instructions), quality data (inspections, measurements, associated documentation), and maintenance data (level 1 preventive maintenance). The continuity of data — from shop floor capture through reporting and analysis — enables faster decision-making and reliance on factual data to define corrective actions. The aim is to contribute to lowering the breakeven point through sustained productivity improvements, notably by targeting the most critical machine downtimes over defined periods. PROJECT PROGRESS 100% OF COLD FORGING MACHINES NOW FULLY EQUIPPED QUALITY INSPECTIONS LAUNCHED IN JANUARY 2026 DEPLOYMENT IN PROGRESS AT THE DELLE WORKSHOP MACHINING WORKSHOP: CABLING AND INSTALLATION TO FOLLOW HEAT TREATMENT FURNACE: CURRENTLY UNDERGOING TESTING NEW VERSION UNDER REVIEW FOR 2026 AQUIWEB A 4.0 CONNECTIVITY SYSTEM FOR LISI AUTOMOTIVE WORKSHOPS ONE CENTRALIZED INTERFACE For operators, this single digital interface—designed to gradually replace paper-based systems—provides real-time alerts when actions are required, such as inspections, downtime qualification, or maintenance operations. “Aquiweb ensures data accuracy at the source and quickly turns information into actionable operational insights,” notes Thomas Crettenand, Operational Management System Leader at LISI AUTOMOTIVE Delle. At this stage, 100% of the cold forging machines in Delle have been equipped. Deployment is continuing in the Delle 2 workshop, with the machining workshop next in line. The project also includes the phased installation of an initial heattreatment furnace to enhance production monitoring and traceability, including temperature, atmosphere, and quality control data. The Fuenlabrada site in Spain was also equipped in 2025. A new version of Aquiweb, currently under review for rollout in 2026, will introduce enhanced features aimed at continuously improving satisfaction among sites already using the solution. Aquiweb helps ensure data reliability at the source and quickly turn it into actionable operational levers. Thomas Crettenand Operational Management System Leader, LISI AUTOMOTIVE Delle.
EXCELLENCE AS AN UNWAVERING STANDARD 32 LISI - 2025 Integrated Report
The pursuit of operational excellence is at the core of the LISI Group’s industrial strategy. It enables the Group to keep moving forward and to continuously adapt to changes in the markets in which it operates. To achieve this, the Group integrates the best of artificial intelligence and relies on its LISI Boost program. Designed as a transformation lever, this program aims to strengthen competitiveness, optimize processes at each plant, and embed demanding standards across the Group. CONTENTS 34 CHALLENGES / BALANCING ECONOMIC PERFORMANCE AND RESPONSIBILITY TO ACHIEVE EXCELLENCE 37 LISI BOOST / ACCELERATING PERFORMANCE 40 ARTIFICIAL INTELLIGENCE / A NEW FRONTIER FOR LISI 42 HR TRANSFO / TURNING HUMAN RESOURCES INTO A DRIVER OF SUSTAINABLE COMPETITIVENESS 44 CUSTOMER APPLICATION DEVELOPMENT / BRINGING R&D CLOSER TO CUSTOMER REQUIREMENTS 46 CHINA / LISI AUTOMOTIVE TURNS COMPETITIVE PRESSURE INTO AN INDUSTRIAL EDGE 48 CSR / INITIATIVES & AWARDS 2025 33 2025 Integrated Report - LISI
34 LISI - 2025 Integrated Report PERFORMANCE CHALLENGES BALANCING ECONOMIC PERFORMANCE AND RESPONSIBILITY TO ACHIEVE EXCELLENCE JOINT INTERVIEW Anne-Delphine Beaulieu Chief Sustainability Officer & Digital Transformation LISI Raphaël Vivet Chief Financial Officer LISI ted Report
100% OF OUR CSR RATINGS HAVE IMPROVED 35 2025 Integrated Report - LISI PERFORMANCE How would you assess the Group’s non financial performance today? Anne-Delphine Beaulieu - Non financial performance is a pillar in its own right of the Group’s strategy. It is managed with the same level of rigor as financial performance, using shared indicators that are integrated into our monthly dashboard. Every significant project now includes an assessment of its carbon impact, and our social indicators are fully embedded in our decision making processes. We also track CSR objectives that are aligned with a 2030 roadmap for the Group. This momentum is widely recognized: for the fourth consecutive year, our non financial ratings have improved, including an A score from CDP Climate, a B score from CDP Water, and continuously improving assessments from EcoVadis and EthiFinance. This is also a cultural transformation, embodied by our People, Planet, Profit approach, which underpins our CSR strategy. Non financial performance is now a key driver of both our resilience and our long term value creation. The LISI Group’s performance is now underpinned by a clearly assumed balance between financial performance and CSR ambitions. Anne Delphine Beaulieu and Raphaël Vivet share their vision of a sustainable, value creating business model. Raphaël Vivet - Non financial performance has now reached a strategic level equivalent to financial performance. This vision is fully aligned with the Group’s purpose – “Shape and Share Sustainable Links” – which is reflected very concretely in our governance framework. The establishment of a dedicated Sustainability and CSR department, our 3P approach – People, Planet, Profit –, and the integration of CSR criteria at the core of our strategic pillars are all powerful illustrations of this commitment. -43% REDUCTION IN CARBON EMISSIONS SINCE 2019 3rd CONSECUTIVE YEAR OF IMPROVEMENT IN OUR ENERGY MIX (DRIVEN BY THE INSTALLATION OF PHOTOVOLTAIC PANELS) In a rapidly changing world, aligning operational excellence with positive impact is no longer optional; it forms the foundation of our sustainable value creation.
INTERVIEW 36 LISI - 2025 Integrated Report PERFORMANCE 28% WOMEN CADRES 15 SITES INVOLVED IN ENERGY SAVING PROJECTS THAT HAVE EXCEEDED THEIR TARGETS In our investment decisions, we systematically assess the environmental impact, the social implications, and the project’s ability to create sustainable value beyond the short term. With the entry into force of the CSRD*, this approach is becoming even more structured and more transparent, both internally and for our stakeholders. How do financial performance and CSR ambition together inform your strategic choices? A-D B- Our conviction is clear: performance and responsibility are two sides of the same standard of excellence. In a rapidly changing world, our investors, employees, customers, and local communities expect us to demonstrate this ability to combine operational excellence with positive impact. We place human development at the heart of our strategy. An inclusive culture, diversity, and environmental commitment are becoming collective strengths that give our actions deeper meaning. This is what enables us to attract and retain professionals who are looking for a resilient and responsible company, where economic performance goes hand in hand with shared value creation and lasting impact in our local communities. R V - As a listed Group on the SBF 120, we are also expected to meet high standards of transparency AMBITIONS FOR 2030 A DEMANDING BUT WELL CONTROLLED ROADMAP LISI approaches its 2030 CSR ambitions with confidence. The Group relies on a structured governance framework and its 3P approach – People, Planet, Profit –, which now guides all of its decision making. This robust foundation enables disciplined operational execution on CSR matters, and investments are also conceived from a global performance perspective. While the continued improvement in its non financial ratings strengthens the credibility of its trajectory, several areas of vigilance remain. “Decarbonization efforts must intensify in a context of sustained business growth, and the development of our talent remains a key strategic lever,” notes Anne-Delphine Beaulieu. Although the foundations are solid and the commitment is genuine, achieving the 2030 targets will require a significant acceleration on these two key levers. regarding CSR criteria. Investors today analyze our non financial indicators with the same level of scrutiny as our economic results. The ratings we have mentioned (CDP, EcoVadis) are true markers of credibility and play a tangible role in our access to financing: for example, our partners are developing loan instruments whose conditions can be improved based on the achievement of specific CSR targets. * The Corporate Sustainability Reporting Directive (CSRD) is a 2025 European Union directive that establishes a new sustainability reporting framework for listed and non‑listed companies, including large corporations, mid‑caps and SMEs.
37 2025 Integrated Report - LISI PERFORMANCE LISI BOOST ACCELERATING PERFORMANCE 3 BOOSTERS, 6 ROADMAPS, SUPPORTED BY AI LISI Boost is built on three boosters: Back to Nominal, Empowerment, and Nextgen Factory. For each of these, six roadmaps based on LISI Group methods and tools are activated according to the diagnostics carried out at each site. As a communication, training, and decision support tool, AI enhances understanding of the system and complements on the ground analysis by leveraging available data, without ever replacing human expertise. Operational excellence and innovation remain central drivers of LISI’s industrial performance. The LISI Boost program creates a new collective momentum and positions the Group for the future... In an industrial environment characterized by intensifying competitive pressures, LISI Group is strengthening its excellence management tools with LISI Boost. Designed as an accelerator of operational performance, this new program aims to bring all of the Group’s sites together around a common framework, while building on the best practices, tools, and expertise deployed in previous years through the LISI System program. A FRAME OF REFERENCE Rolled out over the 2026–2029 strategic plan horizon, LISI Boost is built around three “accelerators” (see opposite). Each site undergoes a comprehensive diagnostic to assess its industrial performance and maturity, in order to prioritize the actions to be taken. The resulting roadmaps draw on proven practices: training and coaching, workstation standards, compliance with work instructions, and the animation of management routines, including structured This management system builds on the core foundations we have already put in place. Its ambition is to accelerate operational excellence and innovation by returning to the fundamentals of continuous improvement and aiming for the highest standards in the industry. Christophe Martin, Senior VP Industrial & Purchasing LISI. GOVERNANCE problem solving. For each project, the performance improvement is continuously measured using key performance indicators. Shared across all teams, LISI Boost has now become the Group’s reference framework for managing industrial excellence and innovation. It puts people at the heart of performance and structures team commitment around risk management and collective value creation.
38 LISI - 2025 Integrated Report PERFORMANCE As part of the rollout of LISI Boost, the LISI AEROSPACE Structural Components Business Group has launched practical pilots focused on the Group’s day to day problem solving processes, with the implementation of the QR QC (Question Response – Quality Control) approach. This improvement tool, centered on standard adherence, is dedicated to everyday issues: simple to deploy, it makes it possible to characterize a problem, analyze it — including by challenging the relevance of existing standards — and address it by implementing actions that enhance those work standards. “QR enables us to address day to day irritants quickly and as a team, by going back to fundamentals,” emphasizes François-Xavier Carton, Performance Improvement Manager Structural Components LISI AEROSPACE. GREATER EMPOWERMENT The gradual rollout of the approach was carried out in each Autonomous Production Unit (APU) at the Parthenay site (western France, west of Poitiers) from June to November 2025. This phase made it possible to identify key players, train them in problem solving, establish dedicated daily time slots for addressing issues, and then manage the increase in team GOVERNANCE LISI AEROSPACE STRUCTURAL COMPONENTS INITIAL FEEDBACK FROM PARTHENAY At Parthenay, teams solve problems together, as close as possible to the shop floor, using a simple methodology shared by everyone. This cultural shift creates lasting value. Frédéric Balcerzark, Senior VP General Manager Business Group Structural Components LISI AEROSPACE. autonomy. An initial assessment shows a positive shift in practices: “we are seeing a genuine cultural change: the approach is leading us to move from ‘who?’ to ‘why?’, systematically questioning standards and maintaining a strong presence in the field,” notes Cécile Andrieu, VP Quality & Continuous Improvement Structural Components LISI AEROSPACE. Several areas requiring attention have been identified, in particular the sustainability of the method and its adoption by new joiners, and these are already feeding into the next stages of deployment.
39 2025 Integrated Report - LISI PERFORMANCE LISI AUTOMOTIVE TERMAX LAKE ZURICH CONSOLIDATING PERFORMANCE Following the transformation and expansion of the TERMAX site in Lake Zurich, Illinois, completed in early 2025, the teams launched a new phase focused on operational efficiency, built around the 5S continuous improvement standards. Implemented as part of LISI Boost, the program has already delivered significant initial gains: productivity has increased by nearly 6% with optimized headcount, driven in particular by the introduction of a centralized automatic feeding system in the plastic materials department. Late orders have decreased by 15%, even as new customs requirements have increased the complexity of shipping procedures. Finally, the Overall Equipment Effectiveness (OEE), which measures equipment efficiency (availability, performance, quality) – has improved by around 3% across all workshops, with a strong contribution from the stamping press department. This momentum illustrates how operational excellence tools are being firmly embedded within the LISI Boost approach. “Since the program was rolled out and the site transformed, productivity has increased by nearly 6%, with optimized headcount.” Wes Gardoki, Chief Executive Officer LISI AUTOMOTIVE Termax. LISI AEROSPACE FASTENERS FASTENERS ACADEMY A STRATEGIC LEVER The Fasteners Academy logo, specially designed for this initiative, symbolizes the path to excellence by bringing together hands-on learning and continuous performance improvement. It reflects the role of LISI AEROSPACE’s fasteners in precisely connecting and securing aerospace structures. As part of the rollout of LISI Boost, the LISI AEROSPACE’s Fasteners Business Group established the Fasteners Academy in March 2025, a center of excellence dedicated to training and to fostering a culture of performance and operational excellence across the division. Located in Saint-Ouen-l’Aumône (north of Paris), the Academy serves as a key enabler in supporting the evolution of management practices across all Business Group sites. A VISION ALIGNED WITH LISI BOOST International in scope, the Fasteners Academy is structured around two complementary hubs: one in Saint-Ouen-l’Aumône serving French and European sites, and a second in City of Industry, California, serving North American operations. This organization enables the consistent deployment of a unified vision of operational excellence based on Lean standards, fully aligned with the LISI Boost model. Developed in partnership with Cubik, the Academy’s in-person and digital learning pathways are built on real-world scenarios and are deployed across all levels of the organization: Strategic Lean (management), Lean Office (support functions), and Lean Manufacturing (production). These programs strengthen frontline leadership, help better connect managers to the shop floor, and encourage the sharing of best practices within technical communities of expertise and across the supply chain. In 2026, new programs will be rolled out in the United Kingdom, Turkey, and the United States, further confirming the central role of the Fasteners Academy in the LISI AEROSPACE division’s strategy to enhance performance and develop organizational capabilities.
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