Slides
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9M Conference Call Drägerwerk AG & Co. KGaA October 29, 2026, Lübeck
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— This presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase any securities. No money, securities or other consideration is being solicited by this presentation. This presentation contains forward-looking statements regarding the future development of the Dräger Group. These forward- looking statements are based on the current expectations, presumptions, and forecasts of the Executive Board as well as the information available to it to date, and have been made to the best of its knowledge and belief. No guarantee or liability for the occurrence of the future developments and results specified can be assumed in respect of such forward-looking statements. Rather, the future developments and results are dependent on a number of factors; they entail risks and uncertainties beyond our control and are based on assumptions which could prove to be incorrect. Notwithstanding any legal requirements to adjust forecasts, we assume no obligation to update the forward-looking statements contained in this presentation. Interim financial reports and preliminaries are not audited. Drägerwerk AG & Co. KGaA Disclaimer 22
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— Agenda 3 Dräger Business Highlights01 Financials 9M 2026 02 Outlook FY 2026 03 3 — Drägerwerk AG & Co. KGaA
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01 Dräger Business Highlights 4Drägerwerk AG & Co. KGaA
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Drägerwerk AG & Co. KGaA Net sales EUR 2,454 million (+5.3% fx-adj.; +4.7% nominal) Cash flow and margin considerably higher EBIT EUR 111.8 million (+EUR 34.7 million) EBIT margin 4.6% (+1.3 pp) Net sales and earnings increased Significantly higher profitability: EBIT and margin clearly up, one-off effect from refunded customs payments Excellent net sales development: growth driven by both divisions and strong dynamic in Germany, EMEA, and the Americas Continued good demand: order intake noticeably increased; medical weaker, mainly due to major order from Mexico in the prior year; safety significantly better Free cash flow considerably up: very strong increase due to higher earnings and effective working capital management FY 2026 guidance: forecast confirmed Highlights 5 Free cash flow EUR 114.3 million (+EUR 97.8 million) 9M 2026
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02 Financials 9M 2026 6Drägerwerk AG & Co. KGaA
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— 56.7 48.0 Q3'25 Q3'26 77.1 111.8 9M'25 9M'26 833 851 Q3'25 Q3'26 Business development Group 7 Net sales (€ million) EBIT (€ million) • Order entry noticeably increased. Medical demand weaker due to major order from Mexico in Q2 20251. Safety significantly better. • Strong net sales growth, driven by both divisions as well as Germany, EMEA, and Americas. Decline in APAC. • Gross profit margin increased to 46.8%, supported by refunded customs payments. • Functional expenses increased (fx-adj.: 6.1%; nominal: 5.6%), particularly driven by costs for personnel, logistics, and IT. • EBIT up by almost half, also as a result of the refunded customs payments 2. • Rolling 12-months DVA (EUR 117.3 million) also significantly higher. Order entry (€ million) 9M 2025 9M 2026 Change (fx-adj.) Germany 587.8 673.5 +14.6 EMEA 1,030.4 1,048.5 +1.5 Americas 591.6 555.0 -5.4 APAC 384.4 396.5 +6.0 Total 2,594.1 2,673.5 +3.6 -15.4% 6.8% EBIT margin 5.6% EBIT margin +1.0% fx-adj +2.1% nominal 2,454 2,344 9M'25 9M'26 +45.0% 3.3% EBIT margin 4.6% EBIT margin +5.3% fx-adj +4.7% nominal Drägerwerk AG & Co. KGaA 1 In April 2025, we received a major order for hospital infrastructure systems from Mexico. The order volume was in the mid double-digit million euro range and will be realized over several years. 2 In the first nine months of 2026, we received customs refunds of EUR 27.9 million for the Group, thereof EUR 7.8 million in Q2 and EUR 20.1 million in Q3.
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— 11.0 4.5 1,322 1,367 9M'25 9M'26 471 469 Q3'25 Q3'26 Business development Medical 8 Net sales (€ million) EBIT (€ million) • Order entry below prior-year figure due to Mexico effect1. Adjusted for this, orders would have remained almost stable. Significant decline in Americas. Roughly stable demand in EMEA, and APAC. Noticeable increase in Germany. • Net sales clearly above prior-year level. Strong growth in Germany, EMEA , and the Americas. Decline in APAC. • Gross profit margin improved (+2.2pp), mainly due to refunded customs payments 2 and favorable product mix, despite negative currency effects. • Functional expenses above prior-year level, particularly due to higher personnel expenses and freight costs. (fx-adj.: 6.5%; nominal: 5.9%). • EBIT and rolling 12-months DVA (EUR -13.4 million) still negative but considerably improved. Order entry (€ million) 9M 2025 9M 2026 Change (fx-adj.) Germany 318.3 329.8 +3.6 EMEA 527.0 524.5 -0.4 Americas 408.6 343.3 -15.4 APAC 241.6 233.2 +0.6 Total 1,495.5 1,430.7 -3.5 -58.9% 2.3% EBIT margin 1.0% EBIT margin -1.4% fx-adj -0.4% nominal +57.0% -1.7% EBIT margin -0.7% EBIT margin +4.4% fx-adj +3.4% nominal -9.7-22.7 9M‘269M‘25Q3‘26Q3‘25 1 In April 2025, we received a major order for hospital infrastructure systems from Mexico. The order volume was in the mid double-digit million euro range and will be realized over several years. 2 In the first nine months of 2026, we received customs refunds of EUR 20.5 million for the medical division, thereof EUR 5.8 million in Q2 and EUR 14.7 million in Q3.
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— 362 381 Q3'25 Q3'26 99.8 121.6 9M'25 9M'26 1.021 1.087 9M'25 9M'26 +4.1% fx-adj +5.3% nominal Business development Safety 9 Net sales (€ million) EBIT (€ million) 45.8 43.5 Q3'25 Q3'26 • Order entry significantly increased, supported by all product areas and regions. Very strong demand in Germany due to major order for defense solutions. Disproportionate growth also in Americas and APAC. • Net sales clearly above prior-year level, particularly driven by EMEA. Positive development in Germany and Americas. Slight decline in APAC. • Gross profit margin improved (+1.1pp), mainly due to refunded customs payments 1 and better product mix, despite negative currency effects. • Functional expenses up, mainly due to higher personnel expenses and freight costs (fx-adj.: 5.4%; nominal: 5.2%). • EBIT and rolling 12-months DVA (EUR 130.6 million) significantly increased. Order entry (€ million) 9M 2025 9M 2026 Change (fx-adj.) Germany 269.4 343.7 +27.6 EMEA 503.4 524.0 +3.5 Americas 183.0 211.8 +16.9 APAC 142.7 163.3 +15.1 Total 1,098.6 1,242.8 +13.1 -4.9% 12.6% EBIT margin 11.4% EBIT margin +21.8% 9.8% EBIT margin 11.2% EBIT margin +6.5% fx-adj +6.4% nominal Drägerwerk AG & Co. KGaA 1 In the first nine months of 2026, we received customs refunds of EUR 7.4 million for the safety division, thereof EUR 2.0 million in Q2 and EUR 5.4 million in Q3.
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10Drägerwerk AG & Co. KGaA Key figures 9M 2026 9M 2025 Change € million € million % Cash flow (from operating activities) 174.9 92.6 +88.7 Investments 137.5 93.5 +47.1 Free cash flow 114.3 16.5 >+100 Cash and cash equivalents1 270.9 188.3 +43.9 Net financial debt1 106.1 221.9 -52.2 Net financial debt1 / EBITDA2 0.3 0.7 Capital employed 1 1,715.7 1,589.0 +8.0 ROCE (EBIT2/Capital employed1) 15.6% 12.0% Net Working Capital1 736.2 721.4 +2.0 Equity ratio 52.4 49.8 +2.6pp Headcount1 16,716 16,684 +0.2 1 Values as of reporting date | 2 EBITDA and accordingly EBIT of the last twelve months
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03 Outlook FY 2026 11Drägerwerk AG & Co. KGaA
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12 Outlook Results achieved for fiscal year 2025 Last forecast for fiscal year 2026 Current forecast for fiscal year 2026 Net sales (net of currency effects) 5.3% 2.0 to 6.0% confirmed EBIT margin 6.7% 6.0 to 8.0% confirmed Dräger Value Added (DVA) EUR 90.1 million EUR 60 to 140 million confirmed Drägerwerk AG & Co. KGaA
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Questions & Answers Drägerwerk AG & Co. KGaA 1313Drägerwerk AG & Co. KGaA
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14 Financial calendar Dräger publishes preliminary results approximately 2 weeks before the dates of the quarterly reports. Preliminary results for the full year are published in January. March 24, 2026 Annual Report 2025, Analysts’ conference April 30, 2026 Report for the first three months of 2026, Conference call May 8, 2026 Annual shareholders’ meeting 2026, Lübeck, Germany July 30, 2026 Report for the first six months of 2026, Conference call October 29, 2026 Report for the first nine months of 2026, Conference call November 18, 2026 Capital Markets Day, Lübeck, Germany 14Drägerwerk AG & Co. KGaA
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Contact Thomas Fischler Head of Treasury & Investor Relations Moislinger Alle 53-55 23558 Lübeck, Germany Tel. +49 451 882 2685 Mail: thomas.fischler@draeger.com Nikolaus Hammerschmidt Senior Manager Investor Relations Moislinger Alle 53-55 23558 Lübeck, Germany Tel. +49 451 882 8903 Mail: nikolaus.hammerschmidt@draeger.com Drägerwerk AG & Co. KGaA 15 Visit our Investor Relations website: https://www.draeger.com/en-us_us/Investor-Relations
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Thank you Drägerwerk AG & Co. KGaA 16