Slides
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REIGNITING TECAN'S GROWTH STORY Half year results August 11 , 2026 TECAN .
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CONFIDENTIAL 1. Introduction 2. Financial results H1 2026 3. Update on program Rewired & outlook 2 Agenda
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CONFIDENTIAL 3 Financial results H1 2026 – highlights Sales CHF 427.5 m (+3.4% LC) Order entry 444.3 m Cash flow CHF 17 m Adj. EBITDA CHF 64.5 m EPS CHF 0.99 Adj. EPS CHF 2.62 CHF (+3.0% LC) (15.1% of Sales) (-29.8%) (-1.5%) (-71.7%) Note: Reconciliations to adjusted EBITDA and EPS are provided on slide 20.
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CONFIDENTIAL 4 Trends developed as expected and it is too early to call a change in trend for the second half Anticipated market trends 2026 Academia & government Ongoing uncertainty and limited funding flow Expected range Biopharma Increased CAPEX in targeted growth areas Expected range Diagnostics Solid demand driven by advanced diagnostics Expected range Solid growth in outsourcing Expected range MedTech
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FINANCIALS H1 2026, A DETAILED LOOK Camila Japur, CFO
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CONFIDENTIAL 6 H1 2026 sales and order entry performance ORDER ENTRY H1 2026 SALES H1 2026 VS. 2025 ›-3.1% in CHF and +3.0% in LC ›Book-to-bill ratio at 1.04, above 1 in both segments ›Q2 order growth stable year-on-year in LC, despite a tougher comparison base; Q2 orders exceeding Q1 levels › Reported sales -2.7% in CHF, +3.4% in LC › Q2 growth momentum sustained: +3.4% in LC SALES ORDER ENTRY 413.6 2025 2026 439.5 427.5 (LC) CHF m 431.2 2025 2026 458.3 444.3 (LC) CHF m
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CONFIDENTIAL 7 H1 2026 segment sales SEGMENT SALES LIFE SCIENCES BUSINESS PARTNERING BUSINESS › Reported sales -3.2% in CHF, +3.1% in LC › Biopharma & Diagnostics: continued strong performance › Academia & Government: demand still impacted by funding uncertainty › Q2: sales +4.6% in LC › Book-to-bill ratio remained above 1 in H1, order entry accelerated further in Q2 › Reported sales -2.3% in CHF, +3.6% in LC › Diagnostics & Medtech: continued solid growth › Life Science Research: sales declined as anticipated › Q2: sales +2.4% in LC, despite increasingly challenging comps › Book-to-bill ratio remained above 1, order entry moderated in Q2 due to high prior-year base 174.3 179.6185.7 2025 2026 Life Sciences Business 239.3 247.9253.8 2025 2026 CHF m Partnering Business (LC) (LC) CHF m
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CONFIDENTIAL 8 H1 2026 EBITDA EBITDA ADJ. EBITDA MARGIN (% OF SALES) ADJUSTED EBITDA MARGIN › Adjusted EBITDA margin up to 15.1% (H1 2025: 15.0%) MAIN EFFECTS EXPLAINING DIFFERENCE OF +10 BPS: › (-) Exchange rates › (-) Tariffs › (-) Material cost inflation and inventory revaluation › (+) Sales volumes › (+) Product mix › (+) Program 'Rewired' and efficiency gains 54.9 65.7 46.6 64.6 EBITDA adj. EBITDA CHF m 2025 2026 › Adj. EBITDA reached CHF 64.6 m, CHF 1.1 m below H1 2025 ADJUSTED EBITDA H1-25 adj. EBITDA FX impact -50 bps Tariffs +180 bps Underlying improvement H1-26 adj. EBITDA 15.0% 13.3% 15.1% -120 bps Note: Reconciliations to adjusted EBITDA, net profit, and EPS are provided on slide 20.
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CONFIDENTIAL 9 H1 2026 EBITDA Reported EBITDA (in CHF m) 46.6 › Rewired (incl. restructuring) +7.6 › Elevate (SAP S/4HANA + CRM) +9.9 › Other one-offs +0.9 › Tariff refunds -0.5 Adjusted EBITDA 64.5 EBITDA RECONCILIATION › ERP and CRM project initiated in 2024 › Important modernization of ERP platform › Go live planned for H1 2027 › 'Rewired' leveraging SAP S/4HANA enterprise architecture and new CRM REWIRED ELEVATE › Comprehensive transformation program › 2026: year of “Reset” with adjusted EBITDA margin outlook of 15.5%-16.5% › 2028 target: 20% adjusted EBITDA margin › Total OPEX to deliver 'Rewired': CHF 45-60 million (as communicated)
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CONFIDENTIAL 10 H1 2026 segment profitability ADJ. EBIT DA (IN CHF M) LIFE SCIENCES BUSINESS ADJ. EBIT DA MARGIN PARTNERING BUSINESS 26.4 46.9 24.7 46.3 Life Sciences Business Partnering Business CHF m 2025 2026 14.0 18.4 13.8 18.7 Life Sciences Business Partnering Business % of Sales 2025 2026 › Adj. EBITDA margin amounted to 13.8% of sales › Factors contributing include: › (-) Tariffs › (-) Exchange rates › (+) Sales volumes › (+) Operational improvements › Adj. EBITDA margin increased to 18.7% of sales › Factors contributing include: › (-) Exchange rates › (-) Tariffs › (+) Sales volumes › (+) Product mix › (+) Operational improvements Note: Reconciliations to adjusted EBITDA, net profit, and EPS are provided on slide 20.
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CONFIDENTIAL 11 H1 2026 net profit and earnings per share ADJ. NET PROFIT NET PROFIT › Adjusted net profit: CHF 32.5 m (H1 2025: CHF 33.7 m) › Reported net profit: CHF 12.3 m (H1 2025: CHF 17.9 m) › Factors contributing include: › (-) EBIT › (-) Financial result › (+) Tax rate slightly lower 33.7 32.5 2025 2026 CHF m EARNINGS PER SHARE › Adjusted earnings per share: CHF 2.62 (H1 2025: CHF 2.66) › Reported earnings per share: CHF 0.99 (H1 2025: CHF 1.41) › Average number of shares outstanding on June 30, 2026: 12.4 m (June 30, 2025: 12.7 m) ADJ. EARNINGS PER SHARE 2.66 2.62 2025 2026 CHF Note: Reconciliations to adjusted EBITDA, net profit, and EPS are provided on slide 20.
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CONFIDENTIAL 12 H1 2026 cash flow CASH FLOW FROM OPERATIONS OF CHF 17.0 M (H1 2025: CHF 60.0 M) › Higher accounts receivable from increased sales late in the period; DSO at 47 days (H1 2025: 45 days) › Inventory increase to strengthen supply chain resilience › Higher payments, including tax payments related to a prior period › CHF -5.6 m newly capitalized development costs (H1 2025: CHF -8.0 m) › CHF -25.7 m PPE/other intangibles (H1 2025: CHF -5.0 m) › CHF +35.0 m for financial assets (mainly from time deposits repayment) › CHF -37.2 m dividend payments (H1 2025: -38.0 m) › CHF -30.5 m purchase of treasury shares (H1 2025: -8.6 m) NET LIQUIDITY 1 POSITION AT CHF 73.5 M (June 30, 2025: 140.3 m) 176.4 124.5 +17.0 +4.3 -73.2 Cash at end of December 2025 From operations From investments From financing2 Cash at end of June 2026 CHF m 1 Net liquidity / net debt = cash and cash equivalents plus short -term time deposits minus short - and long- term debts 2 Includes translation differences of CHF 0.9mm INVESTMENTS OF CHF 4.3 M (2024: CHF 101.8 M), INCLUDING CASH FLOW FROM FINANCING ACTIVITIES INCLUDES
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PROGRAM REWIRED AND OUTLOOK Monica Manotas, CEO
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CONFIDENTIAL 14 Rewired program: Delivering CHF 1 bn revenue, 20% adj. EBITDA Future-proofing Tecan 2028 TARGETS 1 bn Sales CHF m 20% Adj. EBITDA Portfolio discipline 1 › Build on our strengths › Invest in scalable, differentiated segments › Exit non-core businesses 2 Commercial excellence › Sharper segmentation › Value-based pricing › Agile go-to-market 3 Operational excellence › Scalable, resilient operations that convert growth into margins and cash Performance culture4 › Successful execution relies on ownership, accountability and collaboration
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CONFIDENTIAL 15 Rewired program: Delivering CHF 1 bn revenue, 20% adj. EBITDA Update on program Rewired Portfolio discipline 1 › Closed Boston design site in April › Advanced exit from selected Tecan Genomics activities 2 Commercial excellence › Building ecosystem to position Tecan as automation partner of choice for AI-powered labs; › NVIDIA partnership: Agentic AI for Introspect, and development of Physical AI capabilities › Advancing growing portfolio of AI-driven initiatives with technology partners and customers, e.g. for Biofoundries › Expanded direct presence in India with new sales and service team in May 3 Operational excellence › Divested precision machining site in California end of March; consolidated manufacturing in Vietnam › US-based pipette tip production operational since Q2 › Leveraging previously initiated investments in a harmonized SAP S/4HANA enterprise architecture and new CRM
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CONFIDENTIAL 16 Financial outlook 2026 confirmed Sales +LSD (LC) Adj. EBITDA margin 15.5-16.5% 2025 EBITDA adj. -60 bps fx impact -40 bps Tariffs +40 to 140 bps Underlying improvement 2026 EBITDA adj. 16.1% 15.1% 15.5% 16.5%
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CONFIDENTIAL 17 Measure success through clear financial targets based on transparent roadmap Confirming outlook and targets Sales +LSD (LC) Adj. EBITDA margin 15.5-16.5% Sales 1 bn Adj. EBITDA margin 20% Sales (LC) Adj. EBITDA margin >20% +MSD/HSD 2026 2028 Beyond 2028 Any changes to tariff rates may impact the outlook. Profitability expectations for 2026 and for the medium -term sales and adjust ed EBITDA margin outlook are based on an average exchange rate forecast of one euro equaling CHF 0.92 and one US dollar equaling CHF 0.80. (LC)
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CONFIDENTIAL 18 Focused on above market growth and value creation for shareholders Key points to take away › Substantial progress in H1, with above market growth, good momentum in Life Sciences; Partnering on track. › Significant opportunity to realize the full potential of Tecan, 'Rewired' progressing well, expected to contribute materially in 2027, towards 2028 targets and beyond. › Pleased, yet prudent about market recovery, confident about our ability to execute.
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CONFIDENTIAL 20 Reconciliation of adjusted consolidated statement of profit or loss Appendix
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CONFIDENTIAL About Tecan Tecan (www.tecan.com) improves people’s lives and health by empowering customers to scale healthcare innovation globally from life science to the clinic. Tecan is a pioneer and global leader in laboratory automation. As an original equipment manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM instruments, components and medical devices that are then distributed by partner companies. Founded in Switzerland in 1980, the company has more than 3,500 employees, with manufacturing, research and development sites in Europe, North America and Asia, and maintains a sales and service network in over 70 countries. In 2023, Tecan generated sales of CHF 1,074 million (USD 1,194 million; EUR 1,108 million). Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191). Australia +61 39 647 4100 Austria +43 62 46 89 330 Belgium +32 15 42 13 19 China +86 21 220 63 206 France +33 4 72 76 04 80 Germany +49 79 51 94 170 India +91 12 4494 2050 Italy +39 02 92 44 790 Japan +81 44 556 73 11 Netherlands +31 18 34 48 17 4 Nordic +46 8 750 39 40 Singapore +65 644 41 886 South Korea +82 2 818 3301 Spain +34 93 595 25 31 Switzerland +41 44 922 89 22 UK +44 118 9300 300 USA +1 919 361 5200 Other countries +41 44 922 81 11 Tecan Group Ltd. makes every effort to include accurate and up-to-date information, however, it is possible that omissions or errors might have occurred. Tecan Group Ltd. cannot, therefore, make any representations or warranties, expressed or implied, as to the accuracy or completeness of the information provided. Changes can be made at any time without notice. All mentioned trademarks are protected by law. For technical details and detailed procedures of the specifications provided please contact your Tecan representative. This may contain reference to applications and products which are not available in all markets. Please check with your local sales representative. © Tecan Trading AG, Switzerland, all rights reserved. 22 Thank you