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Siegfried delivers profitable growth and confirms outlook Half-Year Results 2026 August 21, 2026
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|2 This presentation may contain confidential and proprietary information. Any use of the presentation or the information therein without specific permission of Siegfried is prohibited. No representations or warranties of any kind are made with regard to the accuracy or completeness of the information provided in or in connection with this presentation. Any statements, estimates and projections with respect to Siegfried’s anticipated future business or performance were prepared based on assumptions and information available at the time this presentation was prepared. Siegfried does not assume any liability or responsibility for actions or decisions of third parties based on this presentation. Disclaimer Safe harbor statement This document is solely for use in connection with the presentation held by Siegfried Holding AG. It is furnished to you for your information only and you may not reproduce or redistribute it to any other person. No representation or warranty, express or implied, is made to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. Siegfried Holding AG shaIl not have any liability whatsoever for any loss whatsoever arising from any use of this document, or its content, or otherwise arising in connection with this document This document may contain forward-looking statements which involve risks and uncertainties. These statements may be identified by such words as "may", "plans", "expects", "believes" and similar expressions, or by their context. These statements are made on the basis of current knowledge and assumptions. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. No obligation is assumed to update any forward-looking statements. This document does not constitute or form part of an offer to sell or a solicitation of an offer to purchase any shares and neither it nor any part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. In particular, this document does not constitute an offering prospectus under Swiss laws nor does it contain an offer of securities for sale in the United States; securities may not be offered or sold in the United States absent registration or an exemption from registration. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes must inform themselves about, and observe, any such restrictions. By participating in the presentation or by accepting any copy of this document, you agree to be bound by the foregoing.
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|3 Siegfried delivers profitable growth and confirms outlook Key highlights H1 2026 Net sales CHF 633 million + 4.8% in LC + 2.2% in CHF Core net profit CHF 75.5 million prior year: CHF 65.7 million EVOLVE+ Continued progress across all objectives Core EBITDA margin 22.4% prior year: 21.6% Acquisition of new sites in US Value unlock on track High customer interest First product transfer to be completed in 2026 Outlook 2026 confirmed1 Net sales: high-single-digit growth (LC) Core EBITDA margin: above 23% H1 2026 1Consistent with Siegfried's established practice over recent years, the Company provides guidance at Group level. The separat e guidance for Drug Substances and Drug Products provided in February and updated in April reflected prudent planning assumptions pending confirmation of volumes for a large contract. These volumes are now included in the curr ent guidance.
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|4 Financial update H1 2026
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|6 Seasonality more pronounced due to acquisition effect Solid performance sets foundation for full-year delivery Net sales H1 2026 vs H1 2025 CHF million H1 2026 H1 2025 Change Drug Substances 431.1 413.8 +4.2% (+6.4% in LC) Drug Products 201.9 205.8 -1.9% (+1.5% in LC) Total 633.0 619.5 2.2% (+4.8% in LC) – Typical seasonality more pronounced than in previous years, mainly driven by the impact of the acquisition in May – Drug Products is more H2 weighted due to planned ramp-up of new products – For the full year, USD exposure expected to rise to c. 20% – FX impact: 3.4% for DP, 2.2% for DS Note: Currency split H1 2025: 31% CHF, 59% EUR, 10% USD; Net sales split H1 2025: 33.2% Drug Products, 66.8% Drug Substances H1 2026 Comments Net sales split H1 2026 Drug Products Currency split H1 2026 31.9%68.1% 60% 14% 26% USD EUR Drug Substances CHF 5
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|8 From Swiss GAAP FER to core results Reconciliation for H1 2026 1.4 150 80 90 0 100 110 120 130 140 70 EBITDA SWISS GAAP FER CHFm Core net profit Adjustment to core net profit Financial result / taxes Core EBIT DepreciationCore EBITDA Adjustments to core EBITDA 140.7 142.0 -51.5 90.5 -21.3 -1.0 68.2 Note: Each number is rounded individually H1 2026 Adjustments – Reclassification of the current net interest for non-Swiss pension plans (CHF +0.9m) EBITDA and (CHF-0.9m net profit ) – Integration costs (CHF +0.4m) – Taxes CHF -0.1 6
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|9 Increased profitability through operational excellence, portfolio optimization, and cost discipline Profitability further increased Note: Each number is rounded individually CHF million H1 2026 H1 2025 Change (%) Net sales 633.0 619.5 2.2% Cost of goods sold -462.3 -456.5 1.3% Core gross profit 170.7 163.0 4.7% Marketing and sales costs -9.2 -8.0 16.7% Core research & development costs -24.8 -21.7 13.9% Core administration & general overhead costs -48.0 -46.3 3.8% Other operating income 1.8 2.9 -36.5% Core EBIT 90.5 89.9 0.6% Core financial result (loss) -6.6 -4.8 38.7% Exchange rate differences (loss) 0.8 -3.5 Core profit before income taxes 84.8 81.6 3.8% Core income taxes -16.6 -15.9 3.9% Core net profit 68.2 65.7 3.8% Depreciation 51.5 43.9 17.2% Core EBITDA 142.0 133.9 6.0% Comments – Core gross profit further increased – Core SG&A slightly increased, mainly due to the acquisition – Higher core financial expenses due to the expanded bond financing – Favorable exchange rate differences H1 2026 7
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|11 11 | CHF million H1 2026 H1 2025 Change (%) Operating cash flow before changes in NWC 133.3 147.9 -9.9% Change in NWC -39.6 1.7 Operating cash flow 93.7 149.6 -37.4% Purchase of PPE and intangibles (net) -78.5 -109.2 -27.9% Acquisitions -157.4 - Other investing activities 0.1 0.1 Cash flow from investing activities -235.8 -109.1 -116.0% Free cash flow 15.1 40.4 -62.6% Cash flow from financing activities 143.3 -43.9 Net change in cash 1.2 -3.5 Free cash flow remained positive despite acquisition related outflows Increased net working capital reflects phasing of tax payments and addition of acquisition Strong underlying cash generation and strategic investments position the Group for continued growth Note: Each number is rounded individually; free cash flow is calculated as operating cash flow minus purchase of PPE and inta ngibles (net) Comments – Lower operating cash flow mainly driven by – Timing of tax payments (H1 2026 vs. H2 2025) – Negative FX effects – Acquisition – Higher cash outflow from investing activities due to provisional purchase price payment for the acquisition – Capital expenditures below prior-year H1 levels – Net debt / core EBITDA increased to 2.3, driven by the acquisition H1 2026 8
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|13 While value-accretive M&A is always on, our near-term priorities focus on integration and value creation Capital allocation framework for long-term value creation EVOLVE+ − Disciplined pay-out ratio − Committed dividend program − Growth in dividend per share at a CAGR of 0.9% since 2014 Cash flow generative Profitable with expanding margins Investments in growth Strong top- line growth Dividends H1 2026 Leverage Flexibility − Diversified funding supports financial resilience − Enables long-term value creation − Committed to conservative leverage level − CHF 200 million senior bonds placed at a 1.35% coupon with a four-year tenor 9 − M&A is always on − Will continue to be very selective − Focus on creating value for customers and shareholders − Capital efficient alternative to organic deployment of capital Value accretive M&A Organic growth − Broadening technology offering − Efficiency upgrades
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|16 Strategy execution and outlook H1 2026 10
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|17 Global scale, dual-supply capabilities and beginning-to-end offering address customer needs and market trends Execution of our EVOLVE+ strategy strengthens our unique position H1 2026 Increasing number of innovations from small and mid-size pharma Increasing complexity of new molecular entities Commercial Excellence Development Excellence Operational Excellence Technology offering EVOLVE+ Ongoing outsourcing trend in the pharma industry Increased cost awareness in the pharma industry Customer demands Siegfried’s unique positioning Global manufacturing network with dual supply capabilities New sites in US significantly increase US capacity Beginning-to-end offering with strengthened early-phase capabilities in the US Supply chain resilience amid geopolitical uncertainty High US demand meets capacity constraints Small and mid-size pharma lack in-house capacity 11
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|18 Together with our newly acquired sites, we now operate the largest global small molecules drug substance CDMO network 1 Extraction business of Extractas Bioscience, Westbury, is not part of Siegfried’s core drug substances CDMO offering H1 2026 St. Vulbas France Nantong China Evionnaz Switzerland Minden Germany Grafton USA Pennsville USA Athens USA Zofingen Switzerland Westbury1 Australia Wilmington USA 12
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|19 Predominantly for established and new commercial products, supporting attractive volume potential Immediate customer interest in our additional US production capacity 5 Customer visits completed within the last 6 weeks 6 Additional visits scheduled for upcoming weeks Offers already submitted, strong conversion from visits 60% 40% Large-sized pharma Strong commercial momentum … ... from a diverse customer pipeline Mid-sized pharma H1 2026 3 13
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|20 Product transfers to free-up capacity for new exclusive business are progressing as planned Fully focused on unlocking acquisition value through capacity optimization Comments Product transfers initiated and first transfer to be completed in 2026 20302026 2028 H1 2026 Freed-up capacity Wilmington (exclusive products) Wilmington (multi-client products) Pennsville (multi-client products) New exclusive business – Gradual start of development activities and product transfers – First revenues in 2027 – Ramp-up of production in 2028 Transfers within the Wilmington site – Rapid execution – Transfers initiated – First transfer to be completed in 2026 Transfers to Pennsville – Leveraging experienced R&D and production teams – Realizing synergies between Wilmington and Pennsville – Transfer activities initiatedTransfers Transfers 2027 14 Closing May 1st First transfer completed 80m3 capacity available for exclusive business
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|21 Our broad technology offering is key to attract new business, especially from small and mid-size pharma Strategic technology upgrades on track to support future growth Drug substance development and manufacturing Drug product development and manufacturing Bridging technologies Recent strategic expansions 2023-2026 Preclinical / early-phase development Athens and Grafton, US High-volume API manufacturing Minden, DE Spray drying Barberà del Vallès, ES Sterile ointments and eye drops El Masnou, ES Pre-filled syringes and cartridges Hameln, DE Viral vectors DINAMIQS, Zurich, CH Flow chemistry Evionnaz, CH H1 2026 15
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|22 Positive mid-term outlook confirmed Delivering the EVOLVE+ strategy through disciplined execution On track to meet our full-year targets Outlook 2026 confirmed1 Net sales: high-single-digit growth (LC) Core EBITDA margin: above 23% H1 2026 Value accretive M&A Capital expenditures of low teens Stepwise expanding profitability Continued profitable growth above market (excl. M&A) 16 1Consistent with Siegfried's established practice over recent years, the Company provides guidance at Group level. The separat e guidance for Drug Substances and Drug Products provided in February and updated in April reflected prudent planning assumptions pending confirmation of volumes for a large contract. These volumes are now included in the curr ent guidance.
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|23 Thank you for your attention February 19, 2027 Full-Year Results September 24, 2026 UBS – Best of Switzerland Conference November 06, 2026 ZKB – Swiss Equity Conference September 23, 2026 Baader Investment Conference, Munich 17
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|24 Q&A 18
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Thank you for your attention