Interim report
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AT&S INTERIM REPORT FIRST QUARTER 2024/25 ADVANCED TECHNOLOGIES & SOLUTIONS 1
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 2 AT&S continues upward trend and exceeds forecast Revenue increases to € 846.3 million in H1 2025/26, up 5.8% on the prior-year period EBITDA of € 174.7 million corresponds to a margin of 20.6% Revenue, earnings and equity strongly impacted by foreign exchange development Forecast for financial year 2025/26: revenue € 1.7 billion, EBITDA margin 23% Outlook for FY 2026/27 confirmed KEY FIGURES Unit H1 2025/26 H1 2024/25 Change in % Revenue € in millions 846.3 799.9 5.8 % EBITDA € in millions 174.7 157.2 11.2 % EBITDA margin % 20.6% 19.6% - EBIT € in millions 0.0 6.8 (99.4 %) EBIT margin % – 0.9% – Profit/(loss) for the period € in millions (63.5) (62.7) (1.3 %) Net CAPEX € in millions (84.3) (254.2) 66.8 % Operating free cash flow € in millions 125.1 (344.8) >100% Earnings per share € (1.86) (1.84) (1.1 %) Employees1 – 12,876 13,490 (4.6 %) 1 Incl. contract staff, average HIGHLIGHTS H1 2025/26
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 3 31ST AT&S ANNUAL GENERAL MEETING The 31st Annual General Meeting of AT & S Austria Technologie und Systemtechnik Aktiengesellschaft (AT&S) adopted a resolution not to pay out a dividend for the financial year 2024/25. Deloitte Audit Wirtschaftsprüfungs GmbH was appointed the statutory auditor for the annual financial statements and consolidated financial statements for the financial year 2025/26 and – to the extent necessary due to legal requirements for the financial y ear 2025/26 – also the auditor of the (consolidated) sustainability reporting for the financial year 2025/26. All other agenda items presented for resolution were also adopted by the shareholders represented at the Annual General Meeting. At the subsequent Supervisory Board meeting, Andy Mattes, who had been elected to the Supervisory Board at the Annual General Meeting, was elected Chairman of the Supervisory Board. CHANGES IN THE MANAGEMENT BOARD Michael Mertin became the new Chairman of the Management Board and CEO of AT&S AG as of May 1, 2025. CFO Petra Preining stepped down as CFO of AT&S AG as of August 31, 2025 and left the company. Likewise, Peter Schneider, Deputy CEO and EVP of the Electronics Solutions business unit, resigned from the Management Board of AT&S AG as of September 30, 2025 and left the company. MANAGERS’ TRANSACTIONS Purchases and sales carried out by members of the Management Board, Supervisory Board and related persons are reported to the Financial Market Authority (FMA) in accordance with Art. 19 of Regulation (EU) No. 596/2014 and published via an EU-wide system as well as on the AT&S website. . CORPORATE GOVERNANCE INFORMATION
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 4 BUSINESS DEVELOPMENTS AND SITUATION Despite massive exchange rate headwinds and a challenging market environment, AT&S increases revenue and EBITDA compared to the prior -year period. Having successfully diversified its customer base, the company is now in close contact with further key players of the global AI chip industry that want to focus on IC substrates. AT&S plans to increase revenue to € 1.7 billion in the current financial yea r with its new plants in Kulim/Malaysia and Leoben/Austria – although the plant in Ansan/South Korea has been sold and foreign exchange effects are expected to have a negative impact also in the second half of the year. During the reporting period, AT&S successfully countered both the persistent price pressure and negative foreign exchange effects based on a positive volume development and by pursuing efficiency programs. Consolidated revenue rose from € 799.9 million in the comparative period to € 846.3 million in the first half of 2025/26 (increase of € 46.4 million or 5.8 %). The loss of revenue resulting from the sale of AT&S Korea Co. Ltd., Ansan /South Korea was more than compensated for. In the Microelectronics segment, revenue was € 69.3 Mio. €, or 19.8 %, higher than in the prior -year comparative period. The positive development was driven by demand for IC substrates and the start of production at the new plant in Kulim/Malaysia. Exchange rate effects, especially due to the weaker US dollar, had a negative impact of € -39.9 million or -5.0% on the development of revenue. The share of revenue from products made in Asia increased from 87.4% to 88.0% in the current financial year. EBITDA rose by € 17.5 million, or 11.2% from € 157.2 million or to € 174.7 million. The loss of contributions to earnings resulting from the sale of the plant in Ansan/South Korea was also more than compensated for in this area. In addition, higher revenue and the cost optimization and efficiency programs, which were consistently continue d in the first half of the current financial year, also had an impact. Currency fluctuations of the US dollar and the Chinese renminbi had a negative influence of € -10.7 million on the development of earnings (previous year: € -0.1 million). Other operating income, at € 2.4 million, exceeded the prior year result of € -25.1 million by € 27.5 million, mainly due to higher start -up costs, partially offset by lower grants. The EBITDA margin amounted to 20.6% in the first six months, thus exyceeding the prior-year level of 19.6%. GROUP INTERIM MANAGEMENT REPORT RESULT KEY DATA € in millions (unless otherwise stated) H1 2025/26 H1 2024/25 Change in % Revenue 846.3 799.9 5.8% Operating result before depreciation and amortization (EBITDA) 174.7 157.2 11.2% EBITDA margin (%) 20.6% 19.6% Operating result (EBIT) 0.0 6.8 (99.4%) EBIT margin (%) – 0.9% Profit for the period (63.5) (62.7) (1.3%) Earnings per share (€) (1.86) (1.84) (1.1%) Additions to property, plant and equipment and intangible assets 69.3 236.8 (70.8%) Average number of staff (incl. leased personnel) 12,876 13,490 (4.6%)
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 5 Depreciation and amortisation rose by € 24.3 million or 16.2% year-on-year and amounted to € 174.7 million. This was due in particular to higher depreciation and amortization at the new plants in Kulim/Malaysia and Leoben/Austria. Despite of the improved EBITDA, EBIT decreased by € 6.8 million from € 6.8 million to € 0.0 million, due to higher depreciations. The EBIT margin amounted to 0.0% (previous year: 0.9%). Finance costs – net declined from € -49.9 million to € -67.4 million. The main reason was a € 19.2 million increase in foreign currency losses to € -23.2 million (previous year: € -4.0 million). The negative interest result declined from € -46.0 million by € 6.2 million to € -39.8 million. At € 52.1 million gross interest expenses were € 12.3 million lower than in the previous year ( € 64.4 million), which was especially due to lower interest rates. A reduction in lease financing also had a positive effect on the interest result (change: € +3.0 million). Interest income, at € 12.9 million, was € 0.8 million below the prior year level of € 13.7 million, mainly due to the lower interest rate level. In addition, a lower hedging result of € -0.2 million (previous year: € 4.1 million) also had a negative impact on finance costs – net. The tax result showed income of € 3.9 million in the first six months (previous year: expense € 19.6 million) and which essentially results from the capitalization of deferred taxes from tax loss es and lower withholding taxes. The loss for the period increased by € 0.8 million from € -62.7 million to € -63.5 million due to both a decrease in operating result and a decline in the financial result. This resulted in a reduction in earnings per share from € -1.84 to € -1.86. Interest on hybrid capital of € 8.8 million (previous year: € 8.8 million) was deducted in the calculation of earnings per share. BUSINESS DEVELOPMENT BY SEGMENTS The AT&S Group breaks its operating activities down into three segments: Electronics Solutions, Microelectronics and Others. For further explanations regarding the segments and segment reporting, please refer to the section Segment Reporting of the half -year financial report and the above-mentioned explanation. The share of the Electronics Solutions segment in total third party revenue decreased from 61.4% to 56.7%. The share of the Microelectronics segment in revenue rose to 43.3% (previous year: 38.6%). Electronics Solutions segment The segment’s revenue amounted to € 485.7 million, down -1.2% on the prior-year level of € 491.8 million. It must be noted, however, that a reduction in revenue by € 17.3 million was recorded as a result of the sale of the plant in Ansan/South Korea. Excluding the share of sales from the plant in Ansan/South Korea, external sales in the Electronics Solutions segment exceeded the previous year’s figure by € 6.0 million. SEGMENT ES (ELECTRONICS SOLUTIONS) – OVERVIEW € in millions (unless otherwise stated) H1 2025/26 H1 2024/25 Change in % Segment revenue 485.7 491.8 (1.2%) Revenue from external customers 480.1 491.3 (2.3%) Operating result before depreciation and amortization (EBITDA) 103.4 105.2 (1.7%) EBITDA margin (%) 21.3% 21.4% Operating result (EBIT) 55.4 51.6 7.3% EBIT margin (%) 11.4% 10.5% Additions to property, plant and equipment and intangible assets 27.1 28.9 (6.2%) Employees (incl. leased personnel), average 6,349 7,068 (10.2%)
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 6 Despite unfavorable economic conditions, the revenue level of the previous year was therefore maintained and even slightly exceeded taking into account the loss of revenue from the Ansan plant. Positive effects were related to higher volumes while negative effects resulted from continued price pressure and exchange rate effects. Revenue in the second quarter of the financial year was 20.3% higher than in the first quarter of the financial year – a development that was also observed in the previous year (imp rovement in the previous year +35.6%) and reflects the seasonal development in this segment. However, segment EBITDA, at € 103.4 million, was € 1.8 million below the prior -year level of € 105.2 million. Here, it must also be noted that the sale of the highly profitable plant in Ansan/South Korea (reduction in EBITDA due to the sale € 15.5 million) was nearly compensated. The main reason for the improvement was the positive impact of the cost optimization and efficiency program. Due to the continuation and intensification of the program, an increase in material and personnel costs was offset. The EBITDA margin declined slightly by 0.1 percentage points from 21.4% to 21.3%. The segment’s depreciation and amortisation declined by € 5.6 million or 10.4% from € -53.6 million to € -48.0 million. EBIT increased by € 3.8 million from € 51.6 million to € 55.4 million. Microelectronics segment The segment’s revenue amounted to € 419.1 million, down by € 69.3 million or 19.8% below the prior-year revenue of € 349.8 million. The increase in revenue in the Microelectronics segment was due in particular to the start -up of production at the new plants in Kulim/Malaysia and Leoben/Austria. However, it is important to note that negative exchange rate effects burden revenue. EBITDA deteriorated by € 24.1 million or 43.8% from € 55.0 million to € 79.1 million. While start-up costs for production sites of € 9.0 million were incurred in the first quarter of the current financial year, these costs fell to € 2.6 million in the second quarter. Overall, this resulted in an EBITDA margin of 18.9%, which is higher than in the previous year (15.7%). Depreciation and amortisation of the segment rose by € 28.5 million or 30.7% from € -92.7 million to € -121.1 million, which was due above all to higher depreciation and amortization at the new plants in Kulim/Malaysia and Leoben/Austria. EBIT declined by € 4.4 million from € -37.6 million to € -42.0 million. SEGMENT ME (MICROELECTRONICS) – OVERVIEW € in millions (unless otherwise stated) H1 2025/26 H1 2024/25 Change in % Segment revenue 419.1 349.8 19.8% Revenue from external customers 366.2 308.6 18.7% Operating result before depreciation and amortization (EBITDA) 79.1 55.0 43.8% EBITDA margin (%) 18.9% 15.7% Operating result (EBIT) (42.0) (37.6) (11.6%) EBIT margin (%) (10.0%) (10.8%) Additions to property, plant and equipment and intangible assets 40.1 200.6 (80.0%) Employees (incl. leased personnel), average 6,147 5,984 2.7%
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 7 Others segment The Others segment is primarily characterised by holding activities. FINANCIAL POSITION Total assets declined by € 60.1 million or 1.3% from € 4,622.1 million to € 4,562.0 million in the first six months. Additions to assets of € 69.3 million (additions to assets led to cash CAPEX of € 84.4 million) were offset by depreciation and amortization totaling € 174.7 million. In addition, exchange rate effects decreased fixed assets by € 122.7 million. Property plant and equipment reported in the consolidated statement of financial position as of September 30, 2025 also included right-of-use assets according to IFRS 16 of € 427.1 million. Correspondingly, financial liabilities include lease liabilities of € 328.5 million. Inventories increased from € 145.5 million to € 194.9 million. Cash and cash equivalents amounted to € 792.5 million (March 31, 2025: € 485.1 million). In addition to cash and cash equivalents, AT&S also has financial assets of € 21.4 million and unused credit lines of € 18.2 million. Equity declined by € 197.6 million or -18.4% from € 1,075.0 million to € 877.4 million. Apart from the loss of the period of € -63.5 million, it was particular also the negative exchange rate effects of € 135.9 million that contributed to the decrease in equity. The exchange rate effects were related to currency effects from the translation of the net assets of subsidiaries as well as currency effects from the translation of long term loans to subsidiaries. Change in he dging instruments for cash flow hedges (€ 1.4 million) had a positive impact on equity. Coupled with the decrease in total assets, the equity ratio, at 19.2%, was 4.0 percentage points lower than at March 31, 2025. Net debt decreased by € 94.5 million or 6.3% from € 1,491.4 million to € 1,396.9 million. Cash flow from operati ng activities amounted to € 209.4 million in the first six months of the financial year 202 5/26 (previous year: € -90.6 million). In addition cash outflows for net investments amounted to € -84.3 million (previous year: € -254.2 million), resulting in free cash flow from operations of € 125.1 million (previous year: € -344.8 million). The net gearing ratio rose from 138.8% to 159.2%. This increase results from the above -mentioned changes in equity and net debt. The theoretical repayment period for debts, defined as net debt/EBITDA, of 2.2 years was lower than in the previous year (2.4 years). RELATED PARTY TRANSACTIONS Regarding related party transactions we refer to the details in the notes. SIGNIFICANT EVENTS AFTER THE INTERIM REPORTING PERIOD Regarding significant events, reference is made to the details in the notes. OTHERS SEGMENT – OVERVIEW € in millions (unless otherwise stated) H1 2025/26 H1 2024/25 Change in % Operating result before depreciation and amortization (EBITDA) (7.7) (3.0) (>100%) Operating result (EBIT) (13.3) (7.1) (86.7%) Additions to property, plant and equipment and intangible assets 2.1 7.4 (72.0%) Employees (incl. leased personnel), average 380 438 (13.2%)
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 8 SIGNIFICANT RISKS, UNCERTAINTIES AND OPPORTUNITIES In the Group Management Report of the consolidated financial statements 2024/25, the relevant risk categories are explained in detail under section 5 “Opportunities and Risks”, which still apply at the reporting date. As described in this chapter, incorrect assessments of technological developments changes in demand, negative price d evelopments and geopolitical changes can have severe adverse effects on the intrinsic value of investments. OUTLOOK Expected market environment Despite several announcements of tariffs, which have been an important issue since the beginning of the year, their impact on the market has been minor so far. The uncertain situation has caused some companies to reduce inventory levels or place orders early. Overall, these effects had no impact on the general market situation, which improved compared with the previous quarter. The data center and server segment continues to be the driver: Here, demand continues to be stable. Demand is particularly strong for high -end products developed for artificial intelligence. There is an ongoing trend towards high-end IC substrates in this area, from which AT&S will continue to benefit. Despite continuing geopolitical tensions, demand developed positively in most other markets. Notebooks show a positive picture, which is in part attributable to the progress made in artificial intelligence and renewal cycles, but also to a shift in seasonality for fear of potential tariffs. Likewise, the smartphone market is strong. In the industrial and automotive segments, only moderate growth is expected for 2025, one of the reasons being inventories that have not been fully reduced yet. The situation is particularly challenging in the area of e -mobility: here, the currently low demand is weakening the market environment. Moreover, tariffs as well as political and legal obstacles in the USA and the EU are causing additional burdens. Outlook 2025/26 AT&S expects to generate annual revenue of approximately € 1.7 billion in the financial year 2025/26 (2024/25: € 1,590 million), which – adjusted for currency effects and the sold plant in Ansan – corresponds to operational growth of approximately 20% compared to the previous year. The expected EBITDA margin of approximately 23% will still reflect the start -up costs of the additional lines in Kulim (2024/25 incl. proceeds from the sale of the plant in Ansan/South Korea: 38.1%; adjusted for the proceeds: 17.7%). The management plans CAPEX of roughly € 250 million (2024/25: € 415 million). The majority of these investments will be used for expanding the IC substrate production at the new plant in Kulim. AT&S expects EBIT and free cash flow from operating activities to be positive. Outlook 2026/27 AT&S anticipates continuing strong and growing demand for products with high added value, especially for generative artificial intelligence. But the established markets such as servers for companies, PCs & notebooks have also recovered. Moreover, AT&S has decided to increasingly serve the defense sector. Against this positive market backdrop, AT&S currently assumes that revenue of approximately € 2.1 to € 2.4 billion will be generated in the financial year 2026/27 and expects an EBITDA margin of 24 to 28%. AT&S generates more than three quarters of its revenue with US companies, and the majority of its revenues in US dollars. Production costs are largely incurred in Asian currencies, while the reporting currency is euro. Since the publication of the forecast for 2026/27 in December 2024, the US dollar has fallen against the euro, from 1.07 US dollars per euro to approx. 1.17 US dollars per euro, which corresponds to a decline by roughly 10%. As a result, the management’s revenue expectations shifted from the upper to the lower end of the expected revenue range. Further changes in exchange rates – positive
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 9 or negative – would have an impact on the revenue forecast. In addition to these general market dynamics, raw material shortages could pose a challenge. Fiberglass mats – in particular E -glass and the technically more sophisticated T -glass – are essential components in the structure of PCBs and IC substrates. T -glass is indispensable for large - format and complex IC substrates. Last year, there were already indications of potential supply chain bottlenecks in the market, in particular due to the dependence on one central supplier. AT&S responded early and qualified a dditional suppliers together with its customers in order to increase supply security. Some of these new partners are in the process of building their production capacities and are currently not yet able to supply the full quantities required. Therefore, there is a certain risk that AT&S, as well as competitors, may not be able to fully meet all customer requirements in the second half of the financial year 2026/27. While such a shortage would limit the production volume, it could reduce the price pressure o n IC substrates at the same time. The forecast does not include a potential escalation of the currently smoldering trade dispute, a significant shortage of fiberglass mats or a further devaluation of the US dollar. The management monitors the currently tense geopolitical situation very car efully in order to be able to respond to developments at any time and to make strategic adaptations. Leoben-Hinterberg, November 04, 2025 The Management Board Michael Mertin m.p. Peter Griehsnig m.p. Ingolf Schröder m.p.
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 10 CONSOLIDATED STATEMENT OF PROFIT OR LOSS € in thousands Jul 1 - Sep 30, 2025 Jul 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Revenue 447,390 450,535 846,315 799,888 Cost of sales (395,274) (363,838) (772,100) (690,624) Gross profit 52,116 86,697 74,215 109,264 Distribution costs (13,691) (14,571) (25,611) (28,189) General and administrative costs (25,654) (21,204) (50,977) (40,912) Other operating income 13,060 5,358 21,233 38,458 Other operating costs (9,489) (40,987) (18,820) (63,509) Other operating result 3,571 (35,629) 2,413 (25,051) Non-recurring items – (332) – (8,281) Operating result (EBIT) 16,342 14,960 40 6,831 Finance income 6,882 9,072 12,888 17,822 Finance costs (30,695) (38,899) (80,330) (67,752) Finance income/costs – net (23,813) (29,827) (67,442) (49,930) Loss before tax (7,471) (14,867) (67,402) (43,099) Income taxes (129) (13,824) 3,937 (19,572) Loss for the period (7,600) (28,692) (63,465) (62,671) Attributable to owners of hybrid capital 4,411 4,411 8,774 8,774 Attributable to owners of the parent company (12,011) (33,102) (72,239) (71,445) Earnings per share attributable to equity holders of the parent company (in € per share): – basic (0.31) (0.85) (1.86) (1.84) – diluted (0.31) (0.85) (1.86) (1.84) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME € in thousands Jul 1 - Sep 30, 2025 Jul 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Loss for the period (7,600) (28,692) (63,465) (62,671) Items to be reclassified: Currency translation differences, net of tax 6,387 70,438 (135,946) 79,516 Gains/(Losses) from the fair value measurement of hedging instruments for cash flow hedges, net of tax 1,515 (4,171) 1,428 (3,813) Items not to be reclassified: Remeasurement of post-employment obligations, net of tax 393 – 393 – Other comprehensive income/(loss) for the period 8,295 66,267 (134,125) 75,703 Total comprehensive income/(loss) for the period 695 37,575 (197,590) 13,032 Attributable to owners of hybrid capital 4,411 4,411 8,774 8,774 Attributable to owners of the parent company (3,716) 33,164 (206,364) 4,258
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 11 CONSOLIDATED STATEMENT OF FINANCIAL POSITION € in thousands Sep 30, 2025 Mar 31, 2025 ASSETS Property, plant and equipment 3,095,603 3,335,615 Intangible assets 14,301 18,027 Financial assets 9,141 8,702 Deferred tax assets 9,255 4,533 Other non-current assets 31,876 32,580 Non-current assets 3,160,176 3,399,457 Inventories 194,928 145,453 Trade and other receivables and contract assets 390,022 482,209 Financial assets 21,407 105,912 Current income tax receivables 2,985 4,010 Cash and cash equivalents 792,529 485,079 Current assets 1,401,871 1,222,663 Total assets 4,562,047 4,622,120 EQUITY Share capital 141,846 141,846 Other reserves (165,668) (31,543) Hybrid capital 347,956 347,956 Retained earnings 553,226 616,691 Equity attributable to owners of the parent company 877,360 1,074,950 Total equity 877,360 1,074,950 LIABILITIES Financial liabilities 1,618,916 1,621,239 Contract liabilities 807,375 827,890 Provisions for employee benefits 38,530 41,712 Deferred tax liabilities 3,939 9,290 Other liabilities 67,177 67,382 Non-current liabilities 2,535,936 2,567,513 Trade and other payables 403,338 405,643 Financial liabilities 601,049 469,892 Contract liabilities 125,168 83,206 Current income tax payables 1,554 192 Other provisions 17,641 20,724 Current liabilities 1,148,750 979,657 Total liabilities 3,684,687 3,547,170 Total equity and liabilities 4,562,047 4,622,120
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 12 CONSOLIDATED STATEMENT OF CASH FLOWS € in thousands Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Operating result (EBIT) 40 6,831 Depreciation, amortization and impairment of property, plant and equipment and intangible assets 174,683 150,343 Gains from the disposal of fixed assets (188) (8,802) Changes in non-current provisions (2,672) (1,849) Changes in contract liabilities 4,030 24,217 Non-cash expense/(income), net (46,044) (229) Interest paid (35,193) (43,209) Interest received 12,917 13,761 Income taxes paid (5,099) (16,763) Cash flow from operating activities before changes in working capital 102,474 124,300 Inventories (57,638) (6,778) Trade and other receivables and contract assets 116,670 (179,313) Trade and other payables 49,965 (36,452) Other provisions (2,034) 7,628 Cash flow from operating activities 209,437 (90,615) Capital expenditure for property, plant and equipment and intangible assets (84,432) (255,318) Proceeds from the sale of property, plant and equipment and intangible assets 92 1,094 Capital expenditure for financial assets (14,490) (2,140) Proceeds from the sale of financial assets 96,737 44,605 Cash flow from investing activities (2,093) (211,759) Proceeds from borrowings 364,831 390,033 Repayments of borrowings (234,397) (56,600) Proceeds from government grants 4,560 3,654 Cash flow from financing activities 134,994 337,087 Change in cash and cash equivalents 342,338 34,713 Cash and cash equivalents at beginning of the year 485,079 676,490 Exchange losses on cash and cash equivalents (34,888) (14,116) Cash and cash equivalents at end of the period 792,529 697,087
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 13 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY € in thousands Share capital Other reserves Hybrid capital Retained earnings Equity attributable to owners of the parent company Non- controlling interests Total equity Mar 31, 2024 141,846 (68,891) 347,956 545,668 966,579 – 966,579 Loss for the period – – – (62,671) (62,671) – (62,671) Other comprehensive income for the period – 75,703 – – 75,703 – 75,703 thereof currency translation differences, net of tax – 79,516 – – 79,516 – 79,516 thereof change in hedging instruments for cash flow hedges, net of tax – (3,813) – – (3,813) – (3,813) Total comprehensive loss for the period – 75,703 – (62,671) 13,032 – 13,032 Sep 30, 2024 141,846 6,812 347,956 482,997 979,611 – 979,611 Mar 31, 2025 141,846 (31,543) 347,956 616,691 1,074,950 – 1,074,950 Loss for the period – – – (63,465) (63,465) – (63,465) Other comprehensive loss for the period – (134,125) – – (134,125) – (134,125) thereof currency translation differences, net of tax – (135,946) – – (135,946) – (135,946) thereof remeasurement of post-employment obligations, net of tax – 393 – – 393 – 393 thereof change in hedging instruments for cash flow hedges, net of tax – 1,428 – – 1,428 – 1,428 Total comprehensive loss for the period – (134,125) – (63,465) (197,590) – (197,590) Sep 30, 2025 141,846 (165,668) 347,956 553,226 877,360 – 877,360
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 14 SEGMENT REPORTING The AT&S Group now breaks down its operating activities into the following three segments ▪ Electronics Solutions ▪ Microelectronics ▪ Others The Electronics Solutions and Microelectronics segments are structured based on technology. The Electronics Solutions segment encompasses the area of printed circuit boards and will also increasingly cover the modules and embedding business areas through the development of high -tech so lutions. The Microelectronics segment comprises the production of IC substrates for PCs and servers. The Others segment is still characterised by Group and holding activities.
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AT&S HALF -YEAR FINA NCIAL REPORT 2025 /2 6 ADVANCED TECHNOLOGIES& SOLUTIONS 15 BU ES (Electronics Solutions) BU ME (Microelectronics) Others Elimination/ Consolidation Group € in thousands Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Segment revenue 485,716 491,812 419,071 349,763 – – (58,472) (41,688) 846,315 799,888 thereof internal revenue 5,646 510 52,826 41,178 – – (58,472) (41,688) – – thereof external revenue 480,070 491,302 366,245 308,585 – – – – 846,315 799,888 Operating result before depreciation/amortization (EBITDA) 103,362 105,163 79,105 55,018 (7,744) (3,007) – – 174,723 157,174 Depreciation/amortization incl. appreciation (48,006) (53,570) (121,120) (92,656) (5,557) (4,118) – – (174,683) (150,343) Operating result (EBIT) 55,356 51,594 (42,015) (37,638) (13,301) (7,125) – – 40 6,831 Finance costs - net (67,442) (49,930) Loss before tax (67,402) (43,099) Income taxes 3,937 (19,572) Loss for the period (63,465) (62,671) Property, plant and equipment and intangible assets1 439,540 490,851 2,585,947 2,774,290 84,417 88,501 – – 3,109,904 3,353,642 Additions to property, plant and equipment and intangible assets 27,071 53,840 40,114 281,395 2,069 24,670 – – 69,254 359,905 1 Actual values as of September 30, 2025, previous year values as of March 31, 2025
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AT&S HALF -YEAR FINA NCIAL REPORT 2025 /2 6 ADVANCED TECHNOLOGIES & SOLUTIONS 16 INFORMATION BY GEOGRAPHIC REGION Revenues broken down by customer region, based on customer’s headquarters: € in thousands Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Austria 7,242 7,140 Germany 86,097 68,110 Other European countries 39,292 47,393 China 5,560 11,287 Other Asian countries 46,226 44,836 Americas 661,898 621,122 Revenue 846,315 799,888 Property, plant and equipment and intangible assets broken down by domicile: € in thousands Sep 30, 2025 Mar 31, 2025 Austria 709,774 725,667 Malaysia 1,143,689 1,188,107 China 1,234,215 1,414,633 Others 22,226 25,235 Property, plant and equipment and intangible assets 3,109,904 3,353,642
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 17 GENERAL INFORMATION Accounting and measurement policies The interim report ended September 30, 2025 has been prepared in accordance with the standards (IFRS and IAS) and interpretations (IFRIC and SIC) of the International Accounting Standards Board (IASB), taking IAS 34 into account, as adopted by the European Union. The accounting and measurement principles applied as at March 31, 2025 were applied without a change with the exception of the IFRS which are mandatorily effective as of April 1, 2025. With the beginning of the financial year 2025/26 the following amended standards and interpretations were applied for the first time: ▪ IAS 21: The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability No material effects resulted from the amended or new standards. In May 2024, amendments to IFRS 9 and IFRS 7 were published regarding the classification and measurement of financial instruments. The amendment are primarily related to the classification of financial assets and the derecognition of a financial liability paid by means of an electronic payment as well as disclosures on equity instruments measured at fair value through other comprehensive income. The effects on the consolidated financial statements are currently analyzed. In April 2024, the new standard “Presentation and Disclosure in Financial Statements” was issued. It will replace the previously applicable Standard IAS 1 “Presentation of Financial Statements”. The primary objective of IFRS 18 is to improve reporting on t he financial performance of an entity with regard to the statement of profit or loss. The effects on the consolidated financial statements are currently analyzed. In December 2024, amendments to IFRS 9 and IFRS 7 were published regarding the accounting of contracts referencing nature -dependent electricity. These amendments include a clarification of the application of the own use exemption, an adaptation of the rule s of hedge accounting and additional disclosure obligations. The effects are currently being analyzed. In the first six months of the financial year 2025/26 there were no changes in the group of consolidated companies. The interim consolidated financial statements do not include all the information contained in the annual consolidated financial statements and should be read in conjunction with the consolidated annual financial statements for the year ended March 31, 2025. The interim consolidated financial statements for the period ended September 30, 2025 are unaudited and have not been the subject of external audit review. CONDENSED NOTES TO THE INTERIM FINANCIAL REPORT CURRENCY RATES Closing rate Average rate Sep 30, 2025 Mar 31, 2025 Change in % Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Change in % Chinese yuan renminbi 8.3561 7.8419 6.6 % 8.2226 7.8176 5.2 % Hong Kong dollar 9.1454 8.4209 8.6 % 8.9358 8.4977 5.2 % Malaysian Ringgit 4.9394 4.7973 3.0 % 4.8843 4.9613 (1.6 %) Indian rupee 104.2700 92.4800 12.7 % 99.0028 90.8814 8.9 % Japanese yen 173.7400 161.4400 7.6 % 167.6157 165.3828 1.4 % South Korean won 1,647.5600 1,593.7500 3.4 % 1,602.9457 1,476.4714 8.6 % Swedish Krone 11.0717 10.8564 2.0 % 11.0126 11.4779 (4.1 %) Taiwan dollar 35.8034 35.9409 (0.4 %) 35.1470 35.0933 0.2 % US dollar 1.1753 1.0811 8.7 % 1.1444 1.0881 5.2 %
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 18 NOTES TO THE STATEMENT OF PROFIT OR LOSS Revenue At € 846.3 million, consolidated revenue was € 46.4 million higher in the first six months of the current financial year than the comparative period figure of € 799.9 million. Gross Profit The current gross profit of € 74.2 million was € 35.0 million lower than in the comparative period (€ 109.3 million). The reasons for the decrease are primarily driven by high price pressure, and therefore missing contribution margins. Higher expenses for research and development further caused an additional burden on gross profit. Operating result As a result of lower gross profit, the consolidated operating result declined to € 0.0 million or 0.0% of revenue. Higher administrative costs also led to a reduction. Other operating income, which was € 27.5 million higher than in the previous year, primarily due to lower start- up costs, as well as lower distribution costs increased the operating result. Non-recurring costs This item from the previous year consists of expenses incurred in the course of restructuring. It primarily includes personnel expenses related to a social plan. Finance income/costs – net Finance costs amounted to € 80.3 million, up € 12.6 million on the previous year. This increase was mainly caused by higher exchange losses in bank deposits and loans in foreign currency of € 26.6 million, which exceeded the prior -year level by € 13.8 million. Financial income of € 12.9 Mio. € primarily resulted from interest income of € 12.9 million (previous year: € 13.7 million) and was therefore € 0.8 million lower than in the previous year due to the lower interest rate level. Overall, finance income/costs – net decreased by € 17.5 million to € -67.4 million. Income taxes In the first six months, the tax result showed income of € 3.9 Mio. € (previous year: expense of € 19.6 Mio. €). The deviation results mainly from the capitalization of deferred taxes from tax losses and lower withholding taxes Seasonality Due to the great importance of mobile devices, the revenue of AT&S usually shows the following seasonal development: the first quarter of the financial year is usually weaker than the second and third quarters, which are typically characterised by very high demand in preparation for the launches of the latest product generation. In the fourth quarter, customer demand is generally lower. This quarter is also characterised by the holiday shutdown due to the Chinese New Year’s celebrations at our l arge Chinese plants. NOTES TO THE STATEMENT OF COMPREHENSIVE INCOME Currency translation differences The negative deviation in the foreign currency translation reserves in the current financial year by € -135.9 million was essentially the result of the change in the exchange rate of the Chinese yuan renminbi, Malaysian ringgit and the US dollar against the Group’s reporting currency, euro. NOTES TO THE STATEMENT OF FINANCIAL POSITION Assets and Finances Net debt, at € 1,396.9 million, decreased versus the € 1,491.4 million outstanding at March 31, 2025. Net working capital also decreased from € 314.9 million at March 31, 2025 to € 239.5 million mainly due to a decrease in receivables. The decrease in trade receivables resulted primarily from a significant increase in factoring volume. Trade receivables before factoring rose by € 30.5 million due to higher revenue in the second quarter of the current financial year. The net gearing ratio, at 159.2%, exceeded the 138.8% at March 31, 2025. Valuation hierarchies for financial instruments measured at fair value Three valuation hierarchies have to be distinguished in the valuation of financial instruments measured at fair value.
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 19 ▪ Level 1: fair values are determined on the basis of publicly quoted prices in active markets for identical financial instruments. ▪ Level 2: if no publicly quoted prices in active markets exist, then fair values are determined on the basis of valuation methods based to the greatest possible extent on market prices. ▪ Level 3: in this case, the models used to determine fair value are based on inputs not observable in the market. The financial instruments valued at fair value at the end of the reporting period at the three valuation levels were as follows: see table below Export loans, government loans, lease liabilities, other liabilities to banks and financing partners totalling to € 2,215.6 million (March 31, 2025: € 2,085.8 million) are measured at amortised cost. The fair value of these liabilities amounts to € 2,226.7 million (March 31, 2025: € 2,089.9 million). Current and non-current contract liabilities In the first six months an amount of € 27.0 million was released. Due to the existence of a significant financing component, a liability of € 5.9 million was recognized for interest. Additions amounted to € 42.5 million. Other financial commitments As at September 30, 2025 the Group had other financial commitments amounting to € 195.0 million. This relates to investments in the Kulim, Shanghai, Chongqing, Nanjangud and Leoben plants. As at March 31, 2025 other financial commitments stood at € 207.0 million. In addition, there were contingent liabilities from bank guarantees amounting to € 0.3 million. Equity Consolidated equity changed due to the consolidated profit for the period of € -63.5 million, negative impacts from currency translation differences of € -135.9 million, and positive changes in hedging instruments for cash flow hedges of € 1.4 million and remeasurements of post - employment obligations of € 0.4 million. Overall, these changes combined led to a decrease in consolidated equity from € 1,075.0 million at March 31, 2025 to € 877.4 million at September 30, 2025. VALUATION HIERARCHIES € in thousands Sep 30, 2025 Level 1 Level 2 Level 3 Total Financial assets Financial assets at fair value through profit or loss: – Bonds 1,007 – – 1,007 – Derivative financial instruments – 1,564 – 1,564 Financial assets at fair value through other comprehensive income without recycling – 118 – 118 Financial assets at fair value through OCI 27,129 27,129 Financial liabilities Derivative financial instruments – 4,384 – 4,384 31 Mar 2025 Level 1 Level 2 Level 3 Total Financial assets Financial assets at fair value through profit or loss: – Bonds 1,000 – – 1,000 – Derivative financial instruments – 1,999 – 1,999 Financial assets at fair value through other comprehensive income without recycling – 118 – 118 Financial assets at fair value through OCI 77,312 77,312 Financial liabilities Derivative financial instruments – 5,317 – 5,317
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 20 The Management Board was authorized by the 30th Ordinary General Meeting on July 4, 2024, to increase the Company’s share capital, subject to the approval of the Supervisory Board, by up to € 21,367,500 by way of issuing up to 19,425,000 new, no-par value bearer shares, for contributions in cash or in kind, in one or several tranches, including issue by means of an indirect share offering via banks in accordance with Section 153 (6) of the Austrian Stock Corporation Act (AktG). The Management Board was auth orized, subject to the approval of the Supervisory Board, to determine the detailed terms and conditions of issue (in particular the issue amount, subject of the contribution in kind, the content of the share rights, the exclusion of subscription rights, e tc.) (Authorized Capital 2024). The statutory subscription right of the shareholders to the new shares issued from the Authorized Capital 2024 shall be excluded (direct exclusion of the statutory subscription right) if and to the extent that this authorization is utilized by issuing shares against cash payments in a total amount of up to 10% of the share capital in the context of the placement of new shares of the Company to (i) exclude from the shareholders’ subscription right fractional amounts which may arise in the case of an unfavorable exchange ratio and/or (ii) to satisfy over -allotment options (greenshoe options) granted to the issuing banks. Further, the Management Board was authorized to fully or partially exclude the statutory subscription right in certain cases with the consent of the Supervisory Board. Furthermore, at the 30th Annual General Meeting on July 4, 2024, the Management Board was authorized until July 3, 2029, subject to the approval of the Supervisory Board, to issue convertible bearer bonds up to a maximum nominal value of € 400,000,000 in one or several tranches, and to grant the holders of the convertible bond subscription and/or conversion rights to up to 19,425,000 new no -par value bearer shares in the Company in accordance with the terms and conditions of the convertible bond to be determined by the Management Board. The convertible bonds can be issued against cash contributions and also against contributions in kind. For this purpose, the Management Board was also authorized to fully or partially exclude shareholders’ subscription rights to convertible bonds to the extent that the authorization to exclude subscription rights only applies to convertible bonds that grant the right to convert and/or subscribe to shares in the Company of, in total, no more than 10%, of the Company’s share capital at the time the authorization is granted. In this context, the Company’s share capital was conditionally increased by up to € 21,367,500 by issuing up to 19,425,000 new no -par value bearer shares in accordance with Section 159 (2) No. 1 of the Austrian Stock Corporation Act. This conditional capital increase will only take place to the extent that the holders of convertible bonds issued in accordance with the resolution passed at the Annual General Meeting on July 4, 2024, exercise their conversion or subscription rights to shares of the Company granted to them. The Management Board was also authorized, subject to approval of the Supervisory Board, to determine further details of the conditional capital increase (in particular, the amount of the issue a nd the rights related to shares). The Supervisory Board was authorized to adopt amendments to the Articles of Association resulting from the issue of shares from the conditional capital. The same applies in case the authorization to issue convertible bonds is not exercised or the conditional capital is not used. With respect to the authorized share capital increase and/or the conditional capital increase, the following restrictions on the amounts of the increases are to be observed, as required under the resolutions passed at the 30th Annual General Meeting on July 4, 2024: The total of (i) the number of shares currently issued or potentially to be issued out of conditional capital under the terms and conditions of the convertible bonds, and (ii) the number of shares issued out of authorized capital shall not exceed the total amount of 19,425,000 (limitation of authorized amount). The Annual General Meeting also approve a resolution to amend the Articles of Association in § 4 (Share capital) to reflect these changes.
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 21 Treasury shares At the 31 st Annual General Meeting of July 3, 2025, the Management Board was authorized for a period of 30 months from the date of the resolution to acquire treasury shares up to a maximum amount of 10% of the share capital at a minimum price that may be no more than 30% lower than the average unweighted closing price of the previous ten trading days and at a highest price per share of a maximum of up to 30% above the average unweighted closing price of the previous ten trading days. The sha res can be acquired over the stock exchange, by way of a public offering or any other legally permitted way and for any legally permitted purpose. This authorization also includes the purchase of shares by subsidiaries of the company (Section 66 AktG). The Management Board was also authorized to withdraw shares after repurchase, as well as treasury shares already held by the Company, without any further resolution by the Annual General Meeting. The Supervisory Board was authorized to adopt amendments to the Articles of Association arising from the withdrawal of shares. This authorization can be exercised in part and in several parts. As at September 30, 2025 the Group held no treasury shares. Number of shares outstanding The number of shares outstanding per period is shown in the table below. NOTES TO THE STATEMENT OF CASH FLOWS Cash flow from operating activities amounted to € 209.4 million compared with € -90.6 million in the same period of the previous year. The lower operating result of € 0.0 million (previous year: € 6.8 million), an increase in inventory by € 57.6 million (previous year: € 6.8 million) a decline in trade and other receivables by € 116.7 million (previous year increase by: € 179.3 million) and newly added contract liabilities of € 4.0 million (previous year: € 24.2 million) led to an increase in cash flow. The reduction in trade receivables is primarily attributable to the significantly higher factoring volume amounting € 191.2 million (March 31, 2025: € 12.20 million). Cash flow from investing activities amounts to € -2.1 million and is thus significantly below the level of € -211.8 million reached in the comparative period. Capital expenditure for property, plant and equipment and intangible assets accounts for € 84.4 million. The capital expenditure of the current financial year is primarily related to investments in the plant in Malaysia, which is currently under construction, the Chinese plants as well as technology upgrades at the other plants. Capital expenditure for financial assets amounts to € -14.5 million, and proceeds from the sale of financial assets amount to € 96.7 million for the investment and reinvestments of liquid funds. Payables for capex amounting to € 75.6 million will become payable after September 30, 2025. Cash flow from financing activities amounts to € 135.0 million and is mainly attributable to additions of loans, repayment of loans and received government grants. The non-cash expense/income is as follows: see table at the end of the next page NUMBER OF SHARES OUTSTANDING € in thousands Jul 1 - Sep 30, 2025 Jul 1 - Sep 30, 2024 Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Weighted average number of shares outstanding – basic (in thousands) 38,850 38,850 38,850 38,850 Weighted average number of shares outstanding – diluted (in thousands) 38,850 38,850 38,850 38,850
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 22 OTHER INFORMATION Impairment/Reversal of impairment In the first six months of the financial year 2025/26 no impairment/reversal of impairment was recognized. Property, plant and equipment is regularly reviewed for indications of impairment. Impairment tests are conducted for cash-generating units. A key criterion for the qualification as a cash-generating unit is their technical and economic independence to gen erate income. Triggering event analyses are conducted for all cash -generating units, which consider both internal and external factors to determine the existence of a triggering event in accordance with IAS 36. If there are any indications of impairment, an impairment test is conducted immediately. The impairment tests are based on calculations of the value in use. The value in use is determined using a DCF method. In doing so, the value in use is determined as the present value of future estimated cash flows before tax in the next five years based on the data of medium-term business planning. The medium-term business plan is drawn up annually. The plausibility of the underlying assumptions is therefore checked annually and these assumptions are updated; based on the result, the estimated cash flows are adapted. The assumptions on the development of the economic environment and customer demand in the respective markets included in business planning are incorporated in the annual, updated medium -term planning. After the detailed planning period, a perpetual annuity is used for calculation based on the assumptions of the past year. The discount rate is derived from a standard weighted cost of capital after tax adapted to the specific risks using recognised financial mathematics methods from external sources. The value in use is translated at the closing rate of the date when the impairment test is performed. All weighted cost of capital rates were reconciled to a pre -tax WACC for disclosure in accordance with the requirements of IAS 36. The triggering event analysis showed the need to conduct an impairment test for four cash -generating units in the first six months of the financial year 2025/26, mainly due to market uncertainties and the related variances from planning. Impairment tests were conducted for the following cash -generating units: Fehring, Leoben, Substrates – Hinterberg and Nanjangud. The calculation of the value in use was based on the expected cash flows for the next five years. For the period thereafter, the present value of a perpetual annuity was used. The calculations did not reveal any need for impairment. A change in critical assumptions (Pre -tax discount rate +1.0 percentage point, EBIT margin -10%) would not lead to an impairment. Based on these analyses, there is no material impact on the measurement of non-current assets. Related party transactions In connection with various projects, the Group received consulting services in the previous year from companies where Supervisory Board Chairman Dr. Androsch (AIC Androsch International Management Consulting GmbH) was active. Due to the passing of Dr. Androsch, no further expenses were incurred in the NON-CASH EFFECTIVE EXPENSE/INCOME € in thousands Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 Release of government grants (6,063) (6,224) Other non-cash expense/(income), net (39,981) 5,995 Non-cash expense/(income), net (46,044) (229)
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 23 current financial year. The fees charged in the previous year are as follows: see table below At the balance sheet date, there are no outstanding balances or obligations to the above mentioned legal and consulting companies. Investment projects In Kulim/Malaysia, substantial investments were made in capacity expansion. One of the two plants in Kulim has already been finalized. Production started in the second quarter of 2025. The building envelope of the second plant has been completed. The timing of the procurement and installation of the infrastructure and production equipment for the completion of the second plant in Kulim depends on the development of the market and the economic situation of a key customer. At the site in L eoben-Hinterberg, the company invested in a new research and development center for substrate and packaging solutions for the global semiconductor industry. Production started in the second quarter of 2025. Financing and liquidity The Group uses long - term financial and liquidity planning to secure the financial needs for the expansion strategy. However, negative business developments, significant deviations from assumptions in business cases, further changes in interest rates, exch ange rate fluctuations or valuation adjustments may cause failure to achieve the targeted equity ratio and the net debt/EBITDA ratio, and subsequently lead to additional financing requirements under more difficult terms and higher costs, or the loss of exi sting financing facilities. Impact of geopolitical tensions A description of these political tensions can be found in the Annual Report for the financial year 2024/25, which continue to be valid. Effects of the climate crisis A description of the effects of climate change on the AT&S Group can be found in the Annual Report for the financial year 2024/25. These statements continue to be valid. Dividends The Annual General Meeting of July 3, 2025 resolved not to distribute a dividend from the total balance sheet profit as at March 31, 2025. Significant events after the reporting date Peter Schneider stepped down from the Management Board of AT&S AG on conclusion of September 30, 2025. Leoben-Hinterberg, November 4, 2025 Management Board Michael Mertin m.p. Peter Griehsnig m.p. Ingolf Schröder m.p. RELATED PARTY TRANSACTIONS € in thousands Apr 1 - Sep 30, 2025 Apr 1 - Sep 30, 2024 AIC Androsch International Management Consulting GmbH – 182 Total fees – 182
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 24 We confirm to the best of our knowledge that the interim financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the group as required by the applicable accounting standards and that the group int erim management report gives a true and fair view of important events that have occurred during the first six months of the financial year and their impact on the interim financial statements, of the principal risks and uncertainties for the remaining six months of the financial year and of the major related party transactions to be disclosed. Leoben-Hinterberg, November 4, 2025 The Management Board Michael Mertin m.p. Chief Executive Officer Peter Griehsnig m.p. Chief Technology Officer Ingolf Schröder m.p. Member of the ExecutiveBoard EVP BUMicroelectronics STATEMENT OF ALL LEGAL REPRESENTATIVES
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 25 Strong share price development in the first half-year AT&S shares performed very strongly in the first half of the 2025/26 financial year, defying the challenging market environment and ongoing uncertainty surrounding tariffs. The share price has trended upwards since the beginning of the financial year. At the end of the half-year on September 30, 2025, the share closed at € 22.40, representing a price gain of around 73%. The share price reached its low for the first half of the year of € 10.42 at the beginning of April 2025. The high of € 23.40 was recorded in mid -September 2025. Share performance AT&S against ATX Prime and TecDAX KEY SHARE FIGURES FOR THE FIRST SIX MONTHS € Sep 30, 2025 Sep 30, 2024 Earnings per share (1.86) (1.84) High 23.40 23.46 Low 10.42 15.02 Close 22.40 20.20 Financial calendar 03/02/2026 Publication of the first three quarters 2025/26 21/05/2026 Publication Preliminary Annual Results 2025/26 05/06/2026 Publication Annual Results 2025/26 29/06/2026 Record Date Annual General Meeting 09/07/2026 32nd Annual General Meeting 27/07/2026 Ex-Dividend Day 28/07/2026 Record Date Dividend 30/07/2026 Dividend Payment Day AT&S SHARE
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AT&S HALF -YEAR FINA NCIAL REPORT 2025/26 ADVANCED TECHNOLOGIES & SOLUTIONS 26 IMPRINT PUBLISHED BY AND RESPONSIBLE FOR CONTENT AT & S Austria Technologie & Systemtechnik Aktiengesellschaft Fabriksgasse 13 - 8700 Leoben Austria www.ats.net CONTACT Philipp Gebhardt Phone: +43 (0)3842 200 2274 ir@ats.net DISCLAIMER This report contains forward -looking statements which were made on the basis of the information available at the time of publication. These can be identified by the use of such expressions as “expects”, “plans”, “anticipates”, “intends”, “could”, “will”, “aim” and “estimation” or other similar words. These statements are based on current expectations and assumptions. Such statements are by their very nature subject to known and unknown risks and uncertainties. As a result, actual developments may vary signi ficantly from the forward -looking statements made in this report. Recipients of this report are expressly cautioned not to place undue reliance on such statements. Neither AT&S nor any other entity accept any responsibility for the correctness and completeness of the forward-looking statements contained in this report. AT&S undertakes no obligation to update or revise any forward-looking statements, whether as a result of changed assumptions or expectations, new information or future events. Percentages and individual items presented in this report are rounded, which may result in rounding differences. Negative amounts are shown in brackets. This report in no way represents an invitation or recommend-dation to buy or sell shares in AT&S. The report is published in German and English. In case of doubt, the German version is binding. No responsibility accepted for errors or omissions. Published on November 4, 2025
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AT&S INTERIM REPORT FIRST QUARTER 2024/25 ADVANCED TECHNOLOGIES & SOLUTIONS 27