Page 1

MEDIA RELEASE April 29 , 2021 Strong start to the year , orders up sequentially in all divisions First Quarter 2021 HIGHLIGHTS Orders + 9.2 % sequentially ( + 7.1 % organic¹ ) . YoY -9.6 % ( -12.1 % organic ) vs. record Q1 2020. Chemtech and Applicators above pre - pandemic level March highest order month in over a year Strong backlog of CHF 1'936m , book - to - bill ratio at 1.08 Sales YoY + 10 % ( + 7 % organic ) EBITA , Free Cash Flow and Profitability significantly up YoY in all divisions Cost measure ahead of schedule , expect CHF 40m EBITA uplift in 2021 2021 guidance confirmed CEO Gregoire Poux - Guillaume stated : " Orders in Q1 grew 9.2 % sequentially , prolonging the strong recovery we have seen in all our divisions since the trough late summer 2020 . Applicator orders are already higher than pre - pandemic and Chemtech's strategy in renewable solutions is paying off with growth in biopolymers . Water is now the largest segment in Pumps and aftermarket activities account for almost half of Sulzer . We are tracking ahead of our expectations and will further accelerate in the second half of the year . " Order intake ( millions of CHF ) Pumps Equipment Rotating Equipment Services Chemtech Applicator Systems Total Sulzer Jan - Mar 2021 301.5 275.3 172.8 124.0 873.7 Sequential ( vs. Q4 2020 ) Change nom 3 Adjusted for currency effects . 4 Adjusted for currency and acquisition effects . 8.2 % 10.4 % 7.0 % 12.6 % 9.2 % Change organic² 2.0 % 10.4 % 7.0 % 12.6 % 7.1 % SULZER Sulzer Management Ltd Neuwiesenstrasse 15 8401 Winterthur Switzerland Phone +41 52 262 30 00 Fax +41 52 262 31 00 Year - on - Year ( vs. Q1 2020 ) Change adjusted ³ -19.2 % -13.4 % 6.5 % 9.9 % -9.6 % ¹ Q1 2021 compared to Q4 2020 ( QoQ ) ; organic QoQ comparison : adjusted for acquisition effects . 2 Adjusted for acquisition effects . Change organic 4 -23.4 % -13.4 % 6.5 % In Q1 2021 , order intake increased by 9.2 % ( 7.1 % organic ) and was up in all divisions . compared to Q4 2020 , with March 2021 reaching the highest order level for more than a year . Compared to the record order intake level of Q1 2020 , our last pre - pandemic quarter and the highest in over 5 years , orders declined by 9.6 % ( 12.1 % organic ) . Currency translation had a negative impact of CHF 24.7m versus the prior year period and acquisitions contributed positively by CHF 25.4m . 1.7 % -12.1 % www.sulzer.com