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1 Evonik Leading Beyond Chemistry Dr. Claus Rettig, Interim Chief Executive Officer Michael Rauch, Chief Financial Officer Q3 2026 Results November 3, 2026
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2 Strong financial performance with Q3 delivered as guided … … coupled with disciplined strategy execution | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call €629 m (+40% yoy) adj. EBITDA in Q3 16.4% (+3.2pp yoy) adj. EBITDA margin in Q3 €601 m (doubled yoy) FCF after 9M 2.1x (vs. 2.5x yoy) total leverage end of Sep Upper half of €2-2.2 bn adj. EBITDA range ~€850 m FCF (40% conversion) >8% (2025: 6.1%) ROCE in FY 2026 ~11% ROCE by 2029 Continued strong operating performance in Q3 2026 as guided Delivering standout cash conversion and deleveraging FY 2026 adj. EBITDA guidance specified: Confident to achieve upper half of range ROCE guidance upgraded – good progress towards ~11% target by 2029
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3 Tailored solutions and industrial excellence EVONIK – LEADING BEYOND CHEMISTRY Clearly defined strategy to deliver attractive shareholder return Leading Portfolio We are best positioned for the future, after a profound transformation Sustainable Innovation We are leveraging sustainable innovation as major growth-driver Regional Balance We are striving for a regionally balanced footprint Shareholder Return We are committed to consistent and attractive returns for our shareholders Team Excellence We are engaged as a team …with our leading portfolio structured in two distinct, complementary business models under one roof …with Next Generation Solutions, process innovation (Next Generation Technologies) and our three Innovation Growth Areas …targeting an equal sales distribution across all regions; our local-for- local approach is ensuring supply security and cost competitiveness …through disciplined capital allocation, focused on organic growth and an attractive dividend = …delivering on our promises, executing on our strategy, even succeeding in a continued tough environment | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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4 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Our path to ~11% ROCE by 2029 Our path to ~11% ROCE by 2029 1 1 Highlights Q3 2026 and Outlook 2026 Highlights Q3 2026 and Outlook 2026 2 2 Financial performance Q3 2026 Financial performance Q3 2026 3 3 Table of contents
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5 Our path to ~11% ROCE by 2029 is underpinned by tangible strategic levers – at the same time driving up earnings and reducing capital employed | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call GROWTH Adj. EBITCapital Employed EFFICIENCY ~11% ROCE1 by 2029 1. Adj. EBIT / Capital Employed Ongoing strong emphasis Enhanced focus CAPEX NWC PORTFOLIO CHANGE 1 2 3 4 5
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6 Batteries ▪ High-performance aluminum oxide grades for lithium-ion-batteries Growth: Sustainable innovation as long-term sales and earnings driver | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call 1 Advance Precision Biosolutions Enable Circular Economy Accelerate Energy Transition Lightweight materials ▪ Foams used in wings, blades and radomes ▪ Now also for drones Biosurfactants ▪ From cleaning to cosmetics and industrial applications €1.5 bn additional sales by 20321 at >20% margin AEROXIDE® ROHACELL® >15% ~20% Evonik Innovation Growth Areas Expanding into fast growing end markets2 >10% 1. vs. year-end 2023 | 2. Expected market growth: CAGR 2024-2030
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7 Biotechnology expansion project for drug substance contract manufacturing Siloxane capacity expansion for PU1 foam and coating additives Growth: Investing into Custom Solutions Evonik launches new projects in additives and biotechnology | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call in Essen (Germany) Accelerate Growth New GMP2 facility for lipid-based drug delivery systems ~€50 m invest in Slovenská Ľupča (Slovakia) ~€80 m invest in Vancouver (Canada)>€50 m invest 1. Polyurethane | 2. Good Manufacturing Practice 1
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8 Efficiency: Organization tailored to our businesses needs leading to more agility and tight cost control | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Evonik Tailor Made Phase 1 2024 – 2026 Phase 2 2027 – 2029 Organization in 2029 ▪ Empowered businesses and faster decision-making ▪ Reduced complexity and rightsized organization ▪ Cost base under control ▪ Fully aligned with employee representatives Reorganization “Evonik Tailor Made” Business optimization Procurement optimization Launching now! Holistic approach: Integrated optimization program across administration and businesses 2
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9 Efficiency: ETM phase two integrates decisive business optimization measures | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Operational excellence ▪ Review business models according to market position ▪ Increase sales force effectiveness / profit enhancement initiative ▪ Synergetic business line mergers 2 ▪ Continuous portfolio transformation within each Business Line including discontinuation of selected product groups and closure of associated production plants Improved raw material sourcing Asset network optimization Portfolio focus shift ▪ Backward integration in Mobile (Methionine) ▪ Optimization of raw material purchasing ▪ Site consolidation: closure of smaller/ older sites ▪ Production transfer to larger production hubs to increase capacity utilization and ensure business continuity Strong volume development and profit enhancement in High Performance Polymers Announced exit of polyester business incl. closure of Witten site Backward integration in Mobile (Methionine) up and running Active site consolidation and optimization in Silica and Crosslinkers Progress in 2026 so far (examples)
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10 Portfolio change: Focusing on our strong core by executing major divestments | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call DivestmentsEvonik core Oxeno divestment firmly on track, aiming for signing in the coming months 3 Innovation-driven businesses with tailored and science-based solutions Custom Solutions Efficiency-driven businesses with a high level of technological expertise and operational excellence Best owner process for SYNEQT to be launched immediately after Oxeno signing Advanced Technologies
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11 Capex: Sustainable reduction in capital intensity thanks to a structural shift in our investment approach | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Capex vs. adj. D&A (in € m) 2022 2023 2024 2025 2026E 865 793 840 748 from 2027 1,140 1,135 1,038 1,013 ~700 ~750 From… To… ▪ Large-scale projects across all businesses ▪ High asset-intensity ▪ Large single-project investments ▪ Additives and biotechnology focus ▪ Lower asset-intensity ▪ Small-sized, fast return projects ▪ 50 : 50 growth vs maintenance capex Structural shift in investment approach enabling sustainably lower capex Bar chart: Capex | Line chart: Adj. D&A 4
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12 Net working capital: AI-enabled tighter control reducing capital employed | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Today: ~18% NWC to sales ratio with significant optimization efforts towards year-end Target: NWC to sales ratio of ~17% with improved balance throughout the year Optimization of inventory ▪ AI-enhanced forecasting (IBP) → Better demand planning → Lower safety stocks → Reduced inventory levels Optimization of accounts receivables/ accounts payables ▪ Automated invoicing and streamlined administrative processes accelerated by digitalization → Faster cash conversion 5
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13 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Our path to ~11% ROCE by 2029 Our path to ~11% ROCE by 2029 1 1 Highlights Q3 2026 and Outlook 2026 Highlights Q3 2026 and Outlook 2026 2 2 Financial performance Q3 2026 Financial performance Q3 2026 3 3 Table of contents
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14 Continued strong operating performance in Q3: Adj. EBITDA of €629 m (+40% yoy) and 16.4% margin (+3.2pp) | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Adj. EBITDA (in € m) / Margin (in %) Q3 2025 Q2 2026 Q3 2026 +40% 448 630 629 13.2% 16.4%16.2% Drivers of Q3 performance ▪ Solid performance in Custom Solutions (+7% yoy) ▪ Exceptional quarter for Advanced Technologies (+87% yoy) − Strong demand in High Performance Polymers – unrelated to global supply chain disruptions − Strong pricing in Crosslinkers and Animal Nutrition ▪ Infrastructure (+48% yoy) driven by higher spreads and margins in Oxeno (C4) business ▪ Earnings support from optimization programs across the Group
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15 Free Cash Flow after nine months more than doubled vs. last year’s level – well on track for 40% cash conversion rate in FY 2026 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Free Cash Flow (in € m) Supporting factors for strong FCF ▪ FCF after nine months >€300 m ahead of last year resulting in significant deleveraging ▪ Strong operating performance as basis: Adj. EBITDA +14% yoy after nine months ▪ Strict NWC management and tight control of capex budget ▪ Lower bonus cashout Q3 2026 369 Q3 2025 300 Q3 9M 9M 2026 601 9M 2025 284 +317
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16 Confident to achieve upper half of guidance range for FY 2026 of adj. EBITDA of €2.0 - 2.2 bn | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Adj. EBITDA (in € bn) Drivers for Q4 adj. EBITDA ▪ FY guidance (“upper half of range”) implies solid yoy earnings growth also in Q4 ▪ Good finish to a very strong year expected ▪ Order books continue to look healthy upper half of €2.0 - 2.2 bn 2025 2026E ▪ Q4 with usual seasonality ▪ Raw material and energy costs on the rise ▪ Methionine prices normalizing vs exceptionally strong Q3 1.8741.9
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17 Confident to achieve a cash conversion rate of 40% – implying FCF of ~€850 m for FY 2026 Cash generation aligned w/ capital allocation priorities 2025 2026E 695 CCR1 ~40%37% 1. Cash Conversion Rate = FCF / adj. EBITDA Payment of attractive dividend within new payout corridor of 40-60% of adj. net income Free Cash Flow (in € m) / Conversion rate1 (in %) De-leveraging visible – rating upgrade secured: Net financial debt -€400 m yoy; total leverage 2.1x Moodys rating upgraded to Baa1 ~ €850 m Disciplined investments into growth: Tight capex budget of ~€750 m in 2026 sufficient to drive focused growth initiatives
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18 ROCE We execute on our strategy with full force – building a focused, more agile company with ~11% ROCE by 2029 We drive earnings growth Basis: Strong operating performance 2026 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call We tightly manage our capital base We optimize our portfolio Growth investments Efficiency gains Sustainably lower capex Tight NWC management Oxeno & SYNEQT Smaller divestments 2025 2026E 2029E >8% ~11% 6.1%
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19 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Our path to ~11% ROCE by 2029 Our path to ~11% ROCE by 2029 1 1 Highlights Q3 2026 and Outlook 2026 Highlights Q3 2026 and Outlook 2026 2 2 Financial performance Q3 2026 Financial performance Q3 2026 3 3 Table of contents
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20 Q3 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 +2% +10% FX Other +/-0% +1% 629 (Q3 2025: 448) 3,825 (Q3 2025: 3,391) 193 (Q3 2025: 181) 0.71 (Q3 2025: 0.27) 369 (Q3 2025: 300) | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call 1. Cash outflows for investments
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21 Custom Solutions Sales (in € m) Additives --- Care Adj. EBITDA (in € m) / margin (in %) Q3 26 vs. Q3 25 Volume Price FX Other +/-0% +5% +/-0% -1% Q3 2025 Q2 2026 215 271 Q3 2026 231 +7% Q3 2025 1,340 441 Q2 2026 1,422 423 Q3 2026 1,394 441 +4% 899 999 953 16.0% 19.1% 16.6% Additives (adj. EBITDA up yoy) ▪ Solid sales (+6%) and earnings growth vs. prior year, mainly driven by stronger oil and coating additives as well as catalyst businesses ▪ Compared to Q2 slight sales and earnings decline reflecting seasonal summer dip, plus some normalisation after supply chain-related pre-buying Care (adj. EBITDA stable yoy) ▪ Flat sales and earnings development compared to prior year on overall rather subdued level ▪ Care Solutions with higher prices not fully compensating higher input costs; specialties doing well; stabilizing volumes on low level in base ingredients ▪ Health Care with higher demand in oral and parenteral drug delivery, good pricing and enhanced plant effectiveness | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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22 Advanced Technologies Sales (in € m) Inorganics --- Organics --- Animal Nutrition Adj. EBITDA (in € m) / margin (in %) Inorganics (adj. EBITDA up yoy) ▪ Silica benefits from network optimization; positive volume development driven by oral care and specialties ▪ Hydrogen peroxide stable on (weak) prior-year level Organics (adj. EBITDA up yoy) ▪ High Performance Polymers benefitting from strong volume development (= higher plant utilization) – demand improvement unrelated to supply chain disruptions ▪ Crosslinkers capitalizing on market momentum and with improved plant availability vs. prior year Animal Nutrition (adj. EBITDA up yoy) ▪ Continued strong earnings momentum driven by significantly higher prices ▪ Volume recovery towards the end of the quarter following a slight summer dip ▪ Backward integration in the US now fully operational Q3 26 vs. Q3 25 Volume Price FX Other +4% +14% +/-0% +1% Q3 2025 Q2 2026 202 333 Q3 2026 377 +87% Q3 2025 1,445 411 439 Q2 2026 453 563 595 631 Q3 2026 1,713 618 457 638 +19% 1,647 14.0% 20.2% 22.0% | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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23 Infrastructure / Other 100 Q3 2025 Q2 2026 Q3 2026 8054 +48% Q3 2025 -23 Q2 2026 -74 Q3 2026 -59 31 26 Q3 2025 Q2 2026 Q3 2026 21 Adj. EBITDA (in € m) Thereof: Infrastructure Thereof: Other ▪ Oxeno (C4): still benefiting from higher margins due to supply chain disruptions associated with Middle East conflict, but below very strong Q2 levels ▪ Infrastructure: as usual high level of stability and benefiting from saving programs ▪ Higher cost savings not fully compensating further increased bonus provisions for FY 2026 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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25 Additional indications for FY 2026 Sales Around €15 bn (unchanged; 2025: €14.1 bn) ROCE Considerably above prior-year level: >8% (previously: slightly above prior-year level; 2025: 6.1%) Capex1 Around €750 m (unchanged; 2025: €748 m) EUR/USD sensitivity2 +/-1 USD cent = -/+ ~€5 m adj. EBITDA (FY basis) Adj. D&A Slightly below prior-year level (unchanged; 2025: €1,013 m) Adj. net financial result Around prior-year level (unchanged; 2025: -€162 m) Adj. tax rate Around 20% (previously: ~25%; 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 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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26 Adjusted income statement Q3 2026 in € m Q3 2025 Q3 2026 ∆ Sales 3,391 3,825 13% Adj. EBITDA 448 629 40% Depreciation & amortization -251 -240 Adj. EBIT 197 389 98% Adj. net financial result -52 -61 D&A on intangible assets 33 31 Adj. income before income taxes 178 359 102% Adj. income tax -46 -26 Adj. income after taxes 132 333 152% Adj. non-controlling interests 4 3 Adj. net income 128 330 158% Adj. earnings per share (in €) 0.27 0.71 Adjustments -222 -395 Adj. net financial result (-€61 m) ▪ Slightly more negative yoy due to higher interest expense Adj. tax rate (7%) ▪ Low adj. tax rate driven by a favorable geographical earnings mix ▪ Resulting in lower projection for FY adj. tax rate (~20%) Adjustments (-€395 m) ▪ -€313 m for restructuring, esp. provisions for second phase of Evonik Tailor Made ▪ -€80 m other special items: asset impairments in Care, Organics (-€264 m), partly offset by write-up in Animal Nutrition (+€187 m) | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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27 Cash flow statement Q3 2026 in € m Q3 2025 Q3 2026 Income before financial result and income taxes (EBIT) -25 -6 Depreciation and amortization 428 317 ∆ Net working capital 79 -169 Change in provisions for pensions & other post-employment benefits -28 -6 Change in other provisions 40 394 Change in miscellaneous assets/liabilities 7 60 Cash inflows/outflows from income taxes -25 -31 Others 5 3 Cash flow from operating activities 481 562 Cash outflows for investment in intangible assets, pp&e -181 -193 FCF 300 369 Cash flow from investing activities -14 -187 Cash flow from financing activities -385 -237 CF from operating activities ▪ Net working capital impacted by inventory build-up ▪ Higher other provisions driven by restructuring measures (esp. phase two of Evonik Tailor Made) CF from investing activities ▪ Prior year benefited from sale of securities CF from financing activities ▪ Lower outflow due to significantly reduced debt repayments | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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28 Net financial debt development Q3 2026 | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call June 30, 2026 Net financial debt CF from operating activities Cash outflows for investments in intangibles and PP&E Addition / reduction in leasing liabilities 3,620 3,292 Other September 30, 2026 Net financial debt 562 193 40 Net interest payments 43 42
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29 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 3,292 Adj. EBITDA (LTM) 1,656 2,065 1,874 2,091 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 1,390 4.7 2.1x3.0x Q3 20262023 2024 2025 Net financial debt (€3,292 m) ▪ Net financial debt slightly decreased ▪ Total leverage reduced to 2.1x, supported by lower net financial debt and higher LTM adjusted EBITDA Pension provisions (€1,390 m) ▪ Pension provisions further reduced, mainly due to higher discount rates ▪ German pension discount rate increased to 4.7% | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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30 Segment overview by quarter Sales (in € m) Q1/25 Q2/25 Q3/25 Q4/25 FY 2025 Q1/26 Q2/26 Q3/26 Custom Solutions 1,427 1,367 1,340 1,358 5,492 1,334 1,422 1,394 Advanced Technologies 1,601 1,511 1,445 1,416 5,973 1,450 1,647 1,713 Infrastructure / Other1 749 621 606 628 2,604 643 824 718 Evonik Group 3,777 3,499 3,391 3,402 14,069 3,427 3,893 3,825 Adj. EBITDA (in € m) Q1/25 Q2/25 Q3/25 Q4/25 FY 2025 Q1/26 Q2/26 Q3/26 Custom Solutions 256 254 215 184 909 227 271 231 Advanced Technologies 291 266 202 185 944 241 333 377 Infrastructure / Other1 -13 -11 31 -12 21 7 26 21 Evonik Group 560 509 448 357 1,874 475 630 629 1. Including Oxeno (C4 business) | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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31 Upcoming IR events | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call Conferences & roadshows Upcoming reporting dates & events November 4, 2026 CFO Analyst Breakfast, London November 4, 2026 Roadshow, London (Jefferies) November 5, 2026 Virtual Roadshow (Berenberg) November 9, 2026 Roadshow, Frankfurt (Berenberg) November 11, 2026 European Conference, London (UBS) November 11, 2026 Global Chemicals Conference, Boston (Morgan Stanley) November 12, 2026 Roadshow, Montreal (Baader) November 17, 2026 Roadshow, Zürich (Deutsche Bank) November 17, 2026 Roadshow, Dublin (ODDO BHF) November 23, 2026 Sustainable Future Forum, online (Barclays) November 23, 2026 Deutsches Eigenkapitalforum, Frankfurt (Deutsche Börse) December 2, 2026 BofA Chemicals Conference, London (Bank of America) March 4, 2027 Q4/FY 2026 Reporting May 4, 2027 Q1 2027 Reporting June 3, 2027 Annual General Meeting August 4, 2027 Q2 2027 Reporting November 4, 2027 Q3 2027 Reporting
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32 Evonik Investor Relations Team Gevitha Selvakumar Senior 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 Director Investor Relations +49 172 5268167 johanna.goebel@evonik.com | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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33 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. | November 3, 2026 | Evonik Q3 2026 Earnings Conference Call
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