Bilfinger SE: Release according to Article 40, Section 1 of the WpHG (the
German Securities Trading Act) with the objective of Europe-wide distribution

EQS Voting Rights Announcement: Bilfinger SE
Bilfinger SE: Release according to Article 40, Section 1 of the WpHG (the
German Securities Trading Act) with the objective of Europe-wide
distribution

25.11.2025 / 17:55 CET/CEST
Dissemination of a Voting Rights Announcement transmitted by EQS News - a
service of EQS Group.
The issuer is solely responsible for the content of this announcement.

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Notification of Major Holdings

1. Details of issuer

     Name:                             Bilfinger SE
     Street:                           Oskar-Meixner-Straße 1
     Postal code:                      68163
     City:                             Mannheim
                                       Germany
     Legal Entity Identifier (LEI):    529900H0HULEN2BZ4604

2. Reason for notification

   X    Acquisition/disposal of shares with voting rights
        Acquisition/disposal of instruments
        Change of breakdown of voting rights
   X    Other reason:
        voluntary group notification with triggered threshold on subsidiary
        level

3. Details of person subject to the notification obligation

     Legal entity: Morgan Stanley
     City of registered office, country: Wilmington, Delaware, United
     States of America (USA)

4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.



5. Date on which threshold was crossed or reached:

19 Nov 2025

6. Total positions

               % of voting  % of voting rights   Total of  Total number of
           rights attached             through  both in %    voting rights
                 to shares  instruments (total    (7.a. +      pursuant to
           (total of 7.a.)   of 7.b.1 + 7.b.2)      7.b.)     Sec. 41 WpHG
  New                3.4 %              2.38 %     5.78 %         37606372
  Previo-            3.4 %              2.38 %     5.78 %                /
  us
  notifi-
  cation

7. Details on total positions
a. Voting rights attached to shares (Sec. 33, 34 WpHG)

    ISIN            Absolute                 In %
                  Direct (Sec.  Indirect  Direct (Sec.  Indirect (Sec.
                      33 WpHG)  (Sec. 34      33 WpHG)        34 WpHG)
                                   WpHG)
    DE0005909006             0   1276789           0 %           3.4 %
    Total           1276789                 3.4 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

    Type of instrument    Expiration   Exercise or    Voting  Voting
                          or maturity  conversion     rights  rights
                          date         period       absolute    in %
    Right of recall over  at any time  at any time    193436  0.51 %
    securities lending
    agreements
                                       Total          193436  0.51 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

    Type of    Expiration   Exercise or  Cash or       Voting  Voting
    instrume-  or maturity  conversion   physical      rights  rights
    nt         date         period       settlement  absolute    in %
    Equity     28.11.2025   at any time  Cash          701952  1.87 %
    Swap
                                         Total         701952  1.87 %

8. Information in relation to the person subject to the notification
obligation

        Person subject to the notification obligation is not controlled nor
        does it control any other undertaking(s) that directly or
        indirectly hold(s) an interest in the (underlying) issuer (1.).
   X    Full chain of controlled undertakings starting with the ultimate
        controlling natural person or legal entity:

  Name               % of voting       % of voting rights  Total of both
                   rights (if at  through instruments (if   (if at least
                     least 3% or     at least 5% or more)    5% or more)
                           more)
  Morgan Stanley               %                        %              %
  Morgan Stanley               %                        %              %
  Capital
  Management, LLC
  Morgan Stanley               %                        %              %
  & Co. LLC
  -                            %                        %              %
  Morgan Stanley               %                        %              %
  Morgan Stanley               %                        %              %
  International
  Holdings Inc.
  Morgan Stanley               %                        %              %
  International
  Limited
  Morgan Stanley               %                        %              %
  Investments
  (UK)
  Morgan Stanley               %                        %              %
  & Co.
  International
  plc
  -                            %                        %              %
  Morgan Stanley               %                        %              %
  Morgan Stanley               %                        %              %
  Capital
  Management, LLC
  Morgan Stanley               %                        %              %
  & Co. LLC
  Prime Dealer                 %                        %              %
  Services Corp.

9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34
para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:
Holding total positions after general meeting (6.) after annual general
meeting:

     Proportion of voting    Proportion of    Total of
                   rights      instruments        both
                        %                %           %

10. Other explanatory remarks:



Date

25 Nov 2025


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25.11.2025 CET/CEST The EQS Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
View original content:
https://eqs-news.com/?origin_id=73f3a827-ca09-11f0-be29-0694d9af22cf&lang=en

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   Language:    English
   Company:     Bilfinger SE
                Oskar-Meixner-Straße 1
                68163 Mannheim
                Germany
   Internet:    http://www.bilfinger.com

End of News EQS News Service
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2235722 25.11.2025 CET/CEST