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      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
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                            weight="1.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
      <link:calculationArc
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                          xlink:from="ifrs-full_NoncurrentLiabilities"
                          xlink:to="ifrs-full_LongtermBorrowings"
                            weight="1.0"
                            order="31.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherNoncurrentLiabilities" xlink:label="ifrs-full_OtherNoncurrentLiabilities" xlink:type="locator"/>
      <link:calculationArc
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                          xlink:from="ifrs-full_NoncurrentLiabilities"
                          xlink:to="ifrs-full_OtherNoncurrentLiabilities"
                            weight="1.0"
                            order="32.0"
                          xlink:type="arc"/>
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   <link:calculationLink xlink:role="https://www.eurotech.com/xbrl/role/all/ias_1_role-210000" xlink:type="extended">
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      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
      <link:calculationArc
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                          xlink:from="ifrs-full_Assets"
                          xlink:to="ifrs-full_NoncurrentAssets"
                            order="10.0"
                            weight="1.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_Assets"
                          xlink:to="ifrs-full_CurrentAssets"
                            order="20.0"
                            weight="1.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:label="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_Assets"
                          xlink:to="ifrs-full_NoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleOrAsHeldForDistributionToOwners"
                            weight="1.0"
                            order="21.0"
                          xlink:type="arc"/>
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   <link:calculationLink xlink:role="https://www.eurotech.com/xbrl/role/all/ias_1_role-210000" xlink:type="extended">
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ifrs-full_PropertyPlantAndEquipment"
                            order="10.0"
                            weight="1.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ifrs-full_DeferredTaxAssets"
                            order="100.0"
                            weight="1.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ifrs-full_IntangibleAssetsAndGoodwill"
                            weight="1.0"
                            order="101.0"
                          xlink:type="arc"/>
      <link:loc xlink:href="815600B283DC6683D832-2021-12-31.xsd#ext_PartecipazioniInAltreImprese" xlink:label="ext_PartecipazioniInAltreImprese" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ext_PartecipazioniInAltreImprese"
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                            order="102.0"
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      <link:loc xlink:href="815600B283DC6683D832-2021-12-31.xsd#ext_FinanziamentiASocietaCollegateEAdAltreSocietàDelGruppoAMedioLungoTermine" xlink:label="ext_FinanziamentiASocietaCollegateEAdAltreSocietàDelGruppoAMedioLungoTermine" xlink:type="locator"/>
      <link:calculationArc
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                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ext_FinanziamentiASocietaCollegateEAdAltreSocietàDelGruppoAMedioLungoTermine"
                            weight="1.0"
                            order="103.0"
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      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="ifrs-full_OtherNoncurrentAssets" xlink:type="locator"/>
      <link:calculationArc
                          xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
                          xlink:from="ifrs-full_NoncurrentAssets"
                          xlink:to="ifrs-full_OtherNoncurrentAssets"
                            weight="1.0"
                            order="104.0"
                          xlink:type="arc"/>
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   <link:calculationLink xlink:role="https://www.eurotech.com/xbrl/role/all/ias_1_role-210000" xlink:type="extended">
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      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
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                          xlink:from="ifrs-full_CurrentAssets"
                          xlink:to="ifrs-full_Inventories"
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                            order="1"
                          xlink:type="arc"/>
      <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2020-03-16/full_ifrs/full_ifrs-cor_2020-03-16.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
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                          xlink:from="ifrs-full_CurrentAssets"
                          xlink:to="ifrs-full_CurrentTaxAssetsCurrent"
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                          xlink:from="ifrs-full_CurrentAssets"
                          xlink:to="ifrs-full_CashAndCashEquivalents"
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                          xlink:to="ifrs-full_OtherCurrentAssets"
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                          xlink:to="ifrs-full_Equity"
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                          xlink:to="ifrs-full_Liabilities"
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                          xlink:to="ifrs-full_NoncurrentLiabilities"
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