Slides
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1 Evonik Leading Beyond Chemistry Christian Kullmann, Chief Executive Officer Michael Rauch, Chief Financial Officer Q2 2026 Results August 4, 2026
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2 Second quarter ahead of plan – FY guidance raised | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Q2 adj. EBITDA of €630 m (+24% yoy) ahead of expectations mainly due to strong Advanced Technologies Strong Q2 FCF of €49 m (prior year: -€211 m) thanks to better earnings and less bonus payout Efficiency program Evonik Tailor Made extended until 2029: Additional 3,200 FTEs to be reduced FY 2026 outlook raised considerably: Adj. EBITDA between €2.0 and 2.2 bn expected
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3 | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Highlights and Outlook FY 2026 Highlights and Outlook FY 2026 1 1 Financial performance Q2 2026 Financial performance Q2 2026 2 2 Table of contents
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4 We continue to execute on our strategy → Industry-leading cash generation → Moderate leverage Today Weak demand and structural headwinds In the coming years At least some demand improvement We control our own destiny – acting from a position of strength We have more potential for improvement with our strategy execution → Consistent cost reduction → Further portfolio optimization → Growth in attractive niches → More balanced use of cash ROCE ~11% as soon as possible We have more potential for improvement with our strategy execution as soon as possible | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Tangible progress already in 2026
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5 Efficiency program Evonik Tailor Made extended until 2029: Additional 3,200 FTEs to be reduced Reorganization “Evonik Tailor Made” Business optimization Procurement optimization …2027-20292023-2026 NEW! + All cost savings and optimization measures bundled for more efficient steering 2024 2025 2026E 31,930 31,053 30,053 -877 -1,000 Reorganization and optimization measures on track Reduction confirms path to tangible financial impact in the future ~30,000 ~-1,000 # Employees | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call ▪ Additional ~3,200 FTEs to be reduced − both in administrative and operative roles − holistic view, integrating the business line optimizations ▪ Further application of HR tools: e.g. early retirement packages, internal relocation, natural fluctuation ▪ Plus using more potential through increased efficiency and digitalization 2023-2026 2027-2029 “Evonik Tailor Made” extended and expanded ~-850 ▪ ETM alone: €400 m gross savings, with 80% personnel costs ▪ €238 m provision booked in Q2 2024 (for 2,000 employees)
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6 Consistently turning innovation into market-ready solutions: Highlights from our three Innovation Growth Areas Strengthens the gut microbiome and the immune system of animals while preventing the spread of pathogens Enables the cost-efficient production of green hydrogen via water electrolysis | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Facilitates the chemical recycling of plastics by enhances the pyrolysis oil quality for use in steam crackers Advance Precision Biosolutions Accelerate Energy TransitionEnable Circular Economy DURAION® MembraneEcobiol® - Probiotics in Livestock Production Specialized catalysts & adsorbents
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7 Q2 adj. EBITDA of €630 m ahead of expectations mainly due to strong Advanced Technologies | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Adj. EBITDA (in € m) / Margin (in %) Q2 2025 Q1 2026 Q2 2026 +24% 509 475 630 14.5% 16.2%13.9% Drivers of Q2 performance ▪ Solid performance in Custom Solutions (+7% yoy) ▪ Strong Advanced Technologies (+25% yoy) − High volumes in Organics (esp. Crosslinkers and High Performance Polymers) − Positive price momentum in Animal Nutrition ▪ Higher spreads / margins in Oxeno / C4 business ▪ Good earnings support from optimization programs across the Group
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8 Strong Q2 FCF of €49 m thanks to better earnings and less bonus payout | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Drivers of H1 performance ▪ Free cash flow significantly up in H1 (yoy) despite rather stable adj. EBITDA (+3% in H1) − Lower NWC outflow due to strict NWC management − Lower bonus cashout (yoy) and higher non-cash provisions (both in Q2) ▪ Strong H1 underpinning FY guidance of ~40% cash conversion Free Cash Flow (in € m) Q2 2026 49 Q2 2025 -211 Q2 H1 H1 2026 232 H1 2025 -16
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9 “€1.7 - 2.0 bn” Adj. EBITDA (in € bn) Outlook by segment Custom Solutions Advanced Technologies Infrastructure (incl. C4) / Other Stable on prior-year level (2025: €909 m) Considerably above prior-year level (2025: €944 m) Significantly above prior-year level (2025: €21 m) | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call FY 2026 outlook raised considerably: Adj. EBITDA between €2.0 and 2.2 bn expected “€2.0 - 2.2 bn” 2025 Updated Outlook 2026E 1.9 Previous Outlook 2026E
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10 Free Cash Flow outlook confirmed: Targeting ~40% conversion Building blocks for FCF development 2025 2026E 695 CCR1 ~40%37% 1. Cash Conversion Rate = FCF / adj. EBITDA Better operating result Free Cash Flow (in € m) / Conversion rate1 (in %) | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Disciplined capex Lower bonus payments (for 2025) NWC with certain headwind from inflation
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11 | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Highlights and Outlook FY 2026 Highlights and Outlook FY 2026 1 1 Financial performance Q2 2026 Financial performance Q2 2026 2 2 Table of contents
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12 Q2 2026 results overview Sales (in € m) Adj. EBITDA (in € m)Sales (yoy) Capex1 (in € m) Adj. EPS (in €)Free Cash Flow (in € m) Volume Price +7% +7% FX Other -2% -1% 630 (Q2 2025: 509) 3,893 (Q2 2025: 3,499) 180 (Q2 2025: 176) 0.65 (Q2 2025: 0.34) 49 (Q2 2025: -211) | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call 1. Cash outflows for investments
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13 Custom Solutions Sales (in € m) Additives --- Care Adj. EBITDA (in € m) / margin (in %) Q2 26 vs. Q2 25 Volume Price FX Other +4% +3% -1% -2% Q2 2025 Q1 2026 254 227 Q2 2026 271 +7% Q2 2025 1,367 425 Q1 2026 1,334 414 Q2 2026 1,422 423 +4% 942 920 999 18.6% 17.0% 19.1% ▪ Good volume and price development; FX headwind subsiding ▪ Sales and order intake on elevated levels esp. in Additives, however normalisation towards quarter-end Additives (adj. EBITDA slightly up yoy) ▪ Additives (ex Catalysts) with good demand, partly supported by war-related supply chain disruptions ▪ Catalysts improving after weak start into the year Care (adj. EBITDA slightly up yoy) ▪ Care Solutions with favourable price realization in specialities, compensating weak volumes from subdued demand in base ingredients ▪ Health Care with solid demand in oral drug delivery, good pricing and enhanced plant effectiveness | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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14 Advanced Technologies Sales (in € m) Inorganics --- Organics --- Animal Nutrition Adj. EBITDA (in € m) / margin (in %) Inorganics (adj. EBITDA slightly down yoy) ▪ Silica benefits from network optimization ▪ Hydrogen Peroxide lower due to license income in previous year, good volume growth for semiconductor applications Organics (adj. EBITDA clearly up yoy) ▪ High Performance Polymers with major shutdown last year; now benefitting from higher capacity utilization ▪ Crosslinkers capitalizing on market momentum Animal Nutrition (adj. EBITDA clearly up yoy) ▪ Ongoing strong price momentum ▪ Slightly lower volumes available due to shutdowns ▪ Backward integration in Mobile completed, with first positive effects in Q2 already Q2 26 vs. Q2 25 Volume Price FX Other +7% +5% -1% -2% Q2 2025 Q1 2026 266 241 Q2 2026 333 +25% Q2 2025 1,511 401 496 Q1 2026 1,450 390 484 614 577 Q2 2026 1,647 631 453 563 +9% 17.6% 16.6% 20.2% | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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15 Infrastructure / Other 47 Q2 2025 Q1 2026 Q2 2026 100 38 +163% Q2 2025 -49 Q1 2026 -40 Q2 2026 -74 -11 7 Q2 2025 Q1 2026 Q2 2026 26 Adj. EBITDA (in € m) Thereof: Infrastructure Thereof: Other ▪ Oxeno (C4): benefiting from higher margins due to war in the Middle East ▪ Infrastructure: as unusual high level of stability ▪ Higher cost savings not fully compensating increased bonus provisions for FY 2026 | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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17 Additional indications for FY 2026 Sales Around €15 bn (previously: between €13.5 and 14.5 bn; 2025: €14.1 bn) ROCE Slightly above prior-year level (previously: on prior-year level; 2025: 6.1%) Capex1 ~€750 m (2025: €748 m) EUR/USD sensitivity2 +/-1 USD cent = -/+ ~€5 m adj. EBITDA (FY basis) Adj. D&A Slightly below prior-year level (previously: around prior-year level; 2025: €1,013 m) Adj. net financial result Around prior-year level (2025: -€162 m) Adj. tax rate Around ~25% (previously: on long-term sustainable level of ~30%; 2025: 22%) 1. Cash outflow for investment in intangible assets, pp&e | 2. Including transaction effects (after hedging) and translation effects; before secondary / market effects | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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18 Adjusted income statement Q2 2026 in € m Q2 2025 Q2 2026 ∆ Sales 3,499 3,893 11% Adj. EBITDA 509 630 24% Depreciation & amortization -259 -260 Adj. EBIT 250 370 48% Adj. net financial result -44 -41 D&A on intangible assets 32 31 Adj. income before income taxes 238 360 51% Adj. income tax -74 -63 Adj. income after taxes 164 297 81% Adj. non-controlling interests -4 -1 Adj. net income 160 296 85% Adj. earnings per share (in €) 0.34 0.65 Adjustments -14 -207 Adj. tax rate (18%) ▪ Adj. tax rate lower than long-term average (~30%) due to higher earnings share in countries with lower tax rates ▪ Resulting in lower projection for FY adj. tax rate (~25%) Adjustments (-€207 m) ▪ -€48 m for restructuring, esp. provision for Witten site closure ▪ -€159 m for other special items, mainly impairment of Oxeno (C4) business | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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19 Cash flow statement Q2 2026 in € m Q2 2025 Q2 2026 Income before financial result and income taxes (EBIT) 236 163 Depreciation and amortization 260 376 ∆ Net working capital -237 -180 Change in provisions for pensions & other post-employment benefits -13 -17 Change in other provisions -341 -63 Change in miscellaneous assets/liabilities 78 -39 Cash inflows/outflows from income taxes -38 -34 Others 20 23 Cash flow from operating activities -35 229 Cash outflows for investment in intangible assets, pp&e -176 -180 FCF -211 49 Cash flow from investing activities 34 -161 Cash flow from financing activities -341 -270 CF from operating activities ▪ Lower (reported) EBIT as starting point ▪ Higher impairments, mainly C4 ▪ Strict NWC management, less outflow yoy ▪ Other provisions: lower outflow for bonus and higher non-cash provisions (e.g. Witten closure) CF from investing activities ▪ Last year with inflow from the disposal of securities in special funds CF from financing activities ▪ Lower dividend payout (-€79 m yoy) | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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20 Net financial debt development H1 2026 | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Dec 31, 2025 Net financial debt CF from operating activities Cash outflows for investments in intangibles and PP&E Addition / reduction in leasing liabilities 3,311 3,620 Other June 30, 2026 Net financial debt 636 404 64 34 Dividend payout 466 Net interest payments 45
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21 Development of debt and leverage over time 1. (Net financial debt – 50% hybrid bond + pension provisions) / Adj. EBITDA (LTM); 2. (Net financial debt – 50% hybrid bond) / Adj. EBITDA (LTM) 2.3x 2.4xTotal Leverage1 3,310 3,253 3,311 3,620 Adj. EBITDA (LTM) 1,656 2,065 1,874 1,910 German pension discount rate (%) and Pension provisions (in € m) Net financial debt (in € m) 1,858 1,662 1,490 4.3 3.63.5 1,538 4.1 2.6x3.0x H1 20262023 2024 2025 Net financial debt (€3,620 m) ▪ Net financial debt up mainly due to dividend payment ▪ Net financial debt leverage stable at 1.8x2 Pension provisions (€1,538 m) ▪ Pension provisions broadly stable despite slightly lower discount rate, positive development of plan assets ▪ Long-dated pension obligations with ~12 years duration ▪ Solid funding ratio of ~85% | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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22 Segment overview by quarter Sales (in € m) Q1/25 Q2/25 Q3/25 Q4/25 FY 2025 Q1/26 Q2/26 Custom Solutions 1,427 1,367 1,340 1,359 5,492 1,334 1,422 Advanced Technologies 1,601 1,511 1,445 1,415 5,973 1,450 1,647 Infrastructure / Other1 749 621 606 629 2,604 643 824 Evonik Group 3,777 3,499 3,391 3,403 14,069 3,427 3,893 Adj. EBITDA (in € m) Q1/25 Q2/25 Q3/25 Q4/25 FY 2025 Q1/26 Q2/26 Custom Solutions 256 254 215 184 909 227 271 Advanced Technologies 291 266 202 186 944 241 333 Infrastructure / Other1 13 -11 31 -13 21 7 26 Evonik Group 560 509 448 357 1,874 475 630 1. Including Oxeno (C4 business) | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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23 Update on business optimization programs Secure competitive position and deliver savings | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Amino Acids High Performance Polymers Silica/Silanes Coating & Adhesive Resins Health Care Crosslinkers (i-Chain) Start date Q2 2023 Q1 2024 Q4 2023 Q1 2024 Q1 2024 Q1 2024 Full potential End of 2026 End of 2027 End of 2027 End of 2027 Main Levers ▪ Operational cost reduction ▪ Closing gaps for optimum production setup by investments ▪ Production, portfolio and overhead ▪ Sales Force Effectiveness, Portfolio Review, Pricing ▪ Synergies of Silanes/Silica business lines merger ▪ Active asset and site landscape optimization ▪ Focus on additives and specialty acrylics ▪ Polyolefins to be transferred to C4 ▪ Discontinuation of polyester business ▪ Focus on lipids ▪ Closure of pharma keto acids site in D ▪ Evaluation for keto / amino acids sites in France / China ▪ Focus on isophorone chain ▪ Optimization of production and raw material purchasing Update ▪ US backwards integration completed ▪ Improvement of profitability visible1 ▪ e.g. closure Havre de Grace, & Waterford (US), Leverkusen ▪ Transfer Polyolefins done ▪ Closure Witten1 ▪ Closure Hanau ▪ Improvement of profitability visible; on track Status ongoing ongoing ongoing 1. All measures in execution, full savings end of 2027
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24 Upcoming IR events | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call Conferences & roadshows Upcoming reporting dates & events August 5, 2026 Roadshow Frankfurt (Oddo) September 2, 2026 Roadshow London (Citi) September 2, 2026 Roadshow Amsterdam September 9, 2026 Global Materials Conference, New York (UBS) September 10, 2026 Industrial Conference, New York (Jefferies) September 23, 2026 German Corp. Conf., Munich (Berenb. & Goldman) September 24, 2026 Investment Conference, Munich (Baader) November 3, 2026 Q3 2026 Reporting March 4, 2027 Q4/FY 2026 Reporting May 4, 2027 Q1 2027 Reporting August 4, 2027 Q2 2027 Reporting November 4, 2027 Q3 2027 Reporting
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25 Evonik Investor Relations Team Gevitha Selvakumar Manager Investor Relations & ESG +49 174 9080817 gevitha.selvakumar@evonik.com Janine Göttel Specialist Investor Relations +49 151 53831578 janine.goettel@evonik.com Christoph Finke Senior Vice President Investor Relations Cédric Schupp Director Investor Relations & ESG +49 173 2552453 cedric.schupp@evonik.com Katharina Gayk Specialist Investor Relations +49 174 9931669 katharina.gayk@evonik.com +49 174 9931647 christoph.finke@evonik.com Johanna Göbel Senior Manager Investor Relations +49 172 5268167 johanna.goebel@evonik.com | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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26 Disclaimer In so far as forecasts or expectations are expressed in this presentation or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release. | August 4, 2026 | Evonik Q2 2026 Earnings Conference Call
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