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Henkel's Bleich Soda Epert bebeaten Beile , mobite Werter weiß Helen bei alle r Bagerdes ie Geba barb rebe & grillet flat a 5 enkel Leim Cie Düffeldor HENKEL H1 2026 CARSTEN KNOBEL , MARCO SWOBODA - 6 AUGUST 2026 150 YEARS Henkel
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DISCLAIMER This presentation contains forward-looking statements which are based on current estimates and assumptions made by the corporate management of Henkel AG & Co. KGaA. Statements with respect to the future are characterized by the use of words such as “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, and similar terms. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by Henkel AG & Co. KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel’s control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements. This document includes – in the applicable financial reporting framework not clearly defined – supplemental financial measures that are or may be alternative performance measures (non-GAAP-measures). These supplemental financial measures should not be viewed in isolation or as alternatives to measures of Henkel’s net assets and financial positions or results of operations as presented in accordance with the applicable financial reporting framework in its Consolidated Financial Statements. Other companies that report or describe similarly titled alternative performance measures may calculate them differently. This document has been issued for information purposes only and is not intended to constitute an investment advice or an offer to sell, or a solicitation of an offer to buy, any securities. HENKEL H1 20262 Note: Each figure commercially rounded. Addition may result in deviations from the totals indicated.
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HENKEL H1 20263 01 Key Developments 02 Business Performance H1 2026 & Outlook 03 Key Take-Aways & Closing AGENDA
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STRONG TOP- AND BOTTOM-LINE PERFORMANCE IN H1 2026 AT A GLANCE HENKEL H1 20264 ▪ Strong organic sales growth with both positive price and volume dynamics across business units and clear acceleration in Q2 ▪ Swift execution of pricing initiatives in Adhesive Technologies to offset raw material price headwinds ▪ Strong adj. EBIT margin demonstrating strength and high quality of businesses ▪ Successfully delivering on our M&A growth strategy – acquisitions with first positive sales & earnings contributions in FY 2026 ▪ Outlook 2026: upgraded top-line expectations for the Group and Adhesive Technologies on the back of strong H1 performance ADHESIVE TECHNOLOGIES CONSUMER BRANDS HENKEL GROUP ORGANIC SALES GROWTH 3.2% ADJ. EBIT MARGIN 15.7% ADJ. EPS GROWTH (AT CONSTANT FX) 7.1% ADHESIVE TECHNOLOGIES ORGANIC SALES GROWTH 4.5% ADJ. EBIT MARGIN 17.7% CONSUMER BRANDS ORGANIC SALES GROWTH 1.7% ADJ. EBIT MARGIN 15.3%
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ADVANCING OUR BUSINESSES BY SUCCESSFULLY EXECUTING ON OUR M&A GROWTH STRATEGY HENKEL H1 20265 4 OUT OF 5 ACQUISITIONS SUCCESSFULLY CLOSED ADDING €2BN OF SALES BY 2030 1 Timing of Closing 2026 Feb 4 April 1 April 24 July 7 Expected in H2 Entering into attractive market for facade solutions in UK Expanding portfolio beyond liquid technologies into attractive tapes business Strengthening footprint & scale in North America with attractive Hair Care brands Expanding portfolio into specialty coatings for flexible materials 1 including acquisition of Stahl which hasn‘t been closed yet
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BECOMING GLOBAL #2 IN HAIR PROFESSIONAL M&A: STRENGTHENING HAIR WITH PREMIUM HAIR CARE BRAND OLAPLEX HENKEL H1 20266 1 FY 2025 Adding ~370 MEUR sales1 ~5% CAGR premium hair care market2 CROSS-SELLING & DISTRIBUTION OPPORTUNITIES ACROSS OMNICHANNEL INNOVATION & TECHNOLOGY OPPORTUNITIES BUILDING ON BROADER REACH & GLOBAL GEOGRAPHIC FOOTPRINT 2 expected market growth CAGR 2025-30
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Adding ~270 MEUR sales1 ~7% CAGR water-based specialty tapes market2 M&A: ENTERING INTO HIGHLY ATTRACTIVE ADJACENCY WITH ATP ADHESIVE SYSTEMS HENKEL H1 20267 PORTFOLIO EXPANSION & CROSS-SELLING OPPORTUNITIES NEW GROWTH PLATFORM FOR SUSTAINABLE SOLUTIONS INNOVATION & TECHNOLOGY SYNERGIES WATER-BASED STEERING WHEEL SENSOR TAPES EXPANDING PORTFOLIO INTO FAST-GROWING SUSTAINABLE TAPES MARKET WATER-BASED FLOORING TAPES 1 FY 2025 2 expected market growth CAGR 2025-30
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HENKEL H1 20268 INNOVATIONS & INVESTMENTS AS CATALYSTSFOR ORGANIC GROWTH IN ADHESIVE TECHNOLOGIES 20302020 Average number of Henkel solutions per smartphone +~50% INNOVATIONS DRIVING INCREASING NO. OF SOLUTIONS THERMAL MANAGEMENT WATER RESISTANCE MINIATURIZATION INVESTING IN HIGH-GROWTH MARKETS (SELECTIVE EXAMPLES) 1 expected OSG CAGR 2025-29 INFRASTRUCTURE PROTECTION & REPAIR AEROSPACE DATA CENTER DOUBLE- DIGIT GROWTH 1 HIGH SINGLE- DIGIT GROWTH 1 HIGH SINGLE- DIGIT GROWTH 1 Innovation trends in e.g., consumer devices:
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Investment of ~€120M in new SMART FACTORY – strong backbone for business in China Serving HIGH-GROWTH INDUSTRIES, e.g. Electronics, Medical, Aerospace Highly automated factory increasing OPERATIONAL EFFICIENCY & SPEED TO MARKET HENKEL H1 20269 INVESTING TO ENHANCE INNOVATION AND EXECUTION SPEED IN ATTRACTIVE HIGH-GROWTH REGIONS Opening of advanced CUSTOMER APPLICATION CENTER for electronics solutions in India Supporting HIGH-GROWTH ELECTRONICS SECTORS, e.g. telecom, data centers & AI ACCELERATING TIME-TO- MARKET through local co-development, testing & validation NEW SMART FACTORY IN CHINA NEW CO-INNOVATION HUB IN INDIA
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DELIVERING HIGH-PERFORMING SOLUTIONS IN CONSTRUCTION FOR DEMANDING CONDITIONS STRUCTURAL BONDING SOLUTION enabling stone & steel to act as single structural unit in central towers of Sagrada Familia 10X FASTER CONSTRUCTION through innovative modular building concept 24 TONS OF LOCTITE adhesive used across 826 panels & 2,100 stone elements Innovative COOL ROOF WATER- PROOFING & COATING, improving thermal insulation & lowering cooling demand REDUCTION OF ROOF TEMPERATURE by up to 20°C & indoor temperature by up to 5°C ~30% REDUCTION in air conditioning energy consumption CUSTOMIZED BONDING SOLUTION INNOVATIVE ROOF SOLUTION HENKEL H1 202610
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SUSTAINED STRONG GROWTH DYNAMICS ACROSS OUR TOP 10 CONSUMER BRANDS HENKEL H1 202611 >4% ORGANIC SALES GROWTH in H1 Driven by BALANCED PRICE & VOLUME DEVELOPMENT TOP 10 BRANDS account for ~60% of sales Reflecting LEADING POSITIONS across categories
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HENKEL H1 202612 DRIVING STRONG PERFORMANCE IN HAIR THROUGH TECH-DRIVEN INNOVATIONS Market Growth1 Organic Sales Growth CAGR FY 2022-2025 >6% >4% OUTPERFORMING FAST-GROWING HAIR MARKET BY SHAPING CONSUMER TRENDS HAIR REPAIR 1 Hair Consumer & Professional; based on trade panel data from NielsenIQ, Circana and Kline e.g., NEW PREMIUM GLISS SCALP CARE LINE with active ingredient technology incl. panthenol, biotin, and oil-/moisture-control complex Selective trends, e.g., in Hair Care HAIR PROTECTION SKINIFICATION
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ACTIVELY SHAPING OUR PORTFOLIO WITH INCREASED FOCUS ON ATTRACTIVE PREMIUM LAUNDRY CARE MARKET HENKEL H1 202613 ~55% FutureToday2021 (Pre-Merger) ~45% INCREASING PREMIUM SHARE IN LAUNDRY CARE DRIVING PROFITABLE GROWTH THROUGH TECH-DRIVEN INNOVATIONS DELIVERING SUPERIOR CONSUMER BENEFITS TOP BRANDS like PERSIL & PERWOLL with ~5% OSG combined in H1 Strong MARKET SHARE GAINS of +50 BPS in attractive FABRIC CARE category in H11 1 based on trade panel data from NielsenIQ and Circana
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HENKEL H1 202614 UPDATED OUTLOOK FY 2026 ORGANIC SALES GROWTH 1.5 to 3.5% previously: 1.0 to 3.0% ADJUSTED EBIT MARGIN 14.5 to 16.0% ADJUSTED EPS1 low to high single-digit % increase 1 per preferred share, at constant exchange rates
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HENKEL H1 202615 01 Key Developments 02 Business Performance H1 2026 & Outlook 03 Key Take-Aways & Closing AGENDA
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HENKEL H1 202616 ORGANIC SALES DEVELOPMENT A&D 0.2% FX -3.9% OSG PRICE 1.1% VOLUME 2.1% 3.2% NOMINAL -0.5% SALES €10.3bn H1 2026
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HENKEL H1 202617 ORGANIC SALES DEVELOPMENT BY REGION -1.5% H1 2026 Group organic sales growth Group sales share 2.4% 14.9% -1.3%10.3% EUROPE NORTH AMERICA IMEA LATIN AMERICAASIA-PACIFIC 38% 25% 17% 10% 8%
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H1 2026 ADHESIVE TECHNOLOGIES HENKEL H1 202618 ORGANIC SALES GROWTH 4.5% SALES €5.5BN ADJ. EBIT MARGIN 17.7% ADJ. EBIT €1.0BN PRICE 1.8% VOLUME 2.8%
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HENKEL H1 202619 H1 2026 ▪ 4.5% organic sales growth driven by a sequential acceleration of both price & volume ▪ Swift execution of pricing initiatives to offset raw material price headwinds – underpinning strength of market position and portfolio ▪ Volume development also supported by positive working day impact in Q2 and forward buying ▪ Strong adj. EBIT margin development supported by operating leverage and positive mix Adj. EBIT Margin Development 17.2 16.2 16.7 17.7 H1/25 H2/25 FY/25 H1/26 ADHESIVE TECHNOLOGIES Organic Sales Growth Development in % 0.6 1.0 0.5 0.8 0.4 3.2 0.5 0.3 2.0 0.1 1.3 4.2 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 1.1 1.3 2.5 0.9 1.7 7.4
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H1 2026 MOBILITY & ELECTRONICS HENKEL H1 202620 ORGANIC SALES GROWTH 7.8% Double-digit growth in Electronics and significant growth in Industrials Automotive below prior year in the first half, however, with a sequential improvement & back to positive territory in Q2 SALES €2.1bn
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H1 2026 PACKAGING & CONSUMER GOODS HENKEL H1 202621 ORGANIC SALES GROWTH 4.7% Very strong growth in Consumer Goods Strong growth in Packaging, supported by continued forward buying SALES €1.6bn
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H1 2026 CRAFTSMEN, CONSTRUCTION & PROFESSIONAL HENKEL H1 202622 ORGANIC SALES GROWTH 1.0% Strong growth in Manufacturing & Maintenance Consumer & Construction slightly below prior year SALES €1.9bn
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ORGANIC SALES GROWTH 1.7% SALES €4.7BN ADJ. EBIT MARGIN 15.3% ADJ. EBIT €0.7BN PRICE 0.3% VOLUME 1.4% H1 2026 CONSUMER BRANDS HENKEL H1 202623 Replace picture
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CONSUMER BRANDS HENKEL H1 202624 H1 2026 Adj. EBIT Margin Development in % 15.3 13.7 14.5 15.3 H1/25 H2/25 FY/25 H1/26 Organic Sales Growth Development in % 2.0 1.5 -0.6 1.4 1.1 -0.5 -5.5 -1.2 0.9 2.8 0.7 2.1 Q1/25 Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 -3.5 0.4 0.4 4.1 1.8 1.6 ▪ 1.7% organic sales growth with both positive price & volume development ▪ Hair continues very strong growth trajectory and Laundry Care returned to positive growth ▪ Adj. EBIT margin sustained on strong PY level despite competitive environment & while continuing to invest into brands
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H1 2026 LAUNDRY & HOME CARE HENKEL H1 202625 ORGANIC SALES GROWTH 0.7% Good growth in Home Care driven by double-digit growth in Hand Dishwashing Laundry Care returned to positive growth due to clear acceleration in Q2 – particularly driven by high-single digit growth in Fabric Care SALES €2.8bn
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HAIR HENKEL H1 202626 Hair with very strong growth driven by balanced contribution from both Consumer & Professional Styling category as strongest contributor H1 2026 ORGANIC SALES GROWTH 4.2% SALES €1.7bn
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OTHER CONSUMER BUSINESSES HENKEL H1 202627 Below prior year due to Body Care in Europe while good growth in North America H1 2026 ORGANIC SALES GROWTH -2.1% SALES €0.3bn
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Adj. EBIT HENKEL H1 202628 BRIDGE FROM ADJUSTED GROSS PROFIT TO ADJUSTED EBIT Marketing, selling & distribution -27.7% -0.1pp Adj. Gross Profit 51.7% +0.4pp R&D -3.0% -0.1pp Admin -5.5% -0.2pp OOI / OOE 0.1% 0.0pp H1 2026 Impact on adjusted EBIT margin in pp vs. PY, in % of sales 15.7% +0.1pp
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HENKEL H1 202629 BRIDGE FROM REPORTED TO ADJUSTED EBIT H1 2026 in €m REPORTED EBIT 1,424 1,620 ADJUSTED EBIT - ONE-TIME INCOME RESTRUCTURING 12868 ONE-TIME EXPENSES
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HENKEL H1 202630 BRIDGE FROM ADJUSTED EBIT TO ADJUSTED EPS Non- controlling interest Adj. EBIT Financial result Taxes on income (adj.) Adj. net income Adj. net income attributable to shareholders ADJUSTED EPS2 1.8% y-o-y 7.1% at constant currencies €2.86 1 adjusted tax rate 2 per preferred share H1 2026 in €m -101,620 -54 -399 (25.5%1) 1,166 1,156
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HENKEL H1 202631 DEVELOPMENT OF CASH KPIs H1 2026 7.0% NET WORKING CAPITAL1 Change y-o-y +100bps €612m FREE CASH FLOW Change y-o-y +€128m -€1.9bn Change y-o-y -€1.4bn NET FINANCIAL POSITION 1 net working capital as a percentage of sales in Q2
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HENKEL H1 202632 ACQUISITIONS TO DELIVER STRONG CONTRIBUTIONS ON BOTH TOP- AND BOTTOM-LINE1 Sales contribution OSG contribution Adj. EPS contribution3 Expected leverageSynergies2 ~€0.7bn ~€2.0bn ~1% ≥10% 1 including acquisition of Stahl which hasn‘t been closed yet 2 defensive & offensive synergies 3 per preferred share; net impact after accounting for financing, integration costs & IFRS purchase price allocation effects MID TO HIGH SINGLE-DIGIT OSG from FY 2027 onwards by FY 2030 HIGH SINGLE-DIGIT % SALES ~1.5X ADJ. EBITDA by FY 2026 well within single A credit rating corridor FY 2026 … FY 2030 FY 2026 … FY 2030
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HENKEL H1 202633 UPDATED OUTLOOK FY 2026 1 per preferred share, at constant exchange rates ORGANIC SALES GROWTH ADJUSTED EBIT MARGIN ADJUSTED EPS1 GROUP 1.5 to 3.5% previously: 1.0 to 3.0% 14.5 to 16.0% Low to high single- digit % increase ADHESIVE TECHNOLOGIES 2.0 to 4.0% previously: 1.0 to 3.0% 16.5 to 18.0% CONSUMER BRANDS 0.5 to 2.5% 14.0 to 15.5%
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HENKEL H1 202634 01 Key Developments 02 Business Performance H1 2026 & Outlook 03 Key Take-Aways & Closing AGENDA
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KEY TAKE-AWAYS HENKEL H1 202635 ▪ Strong organic sales growth with both positive price and volume dynamics across business units and clear acceleration in Q2 ▪ Swift execution of pricing initiatives in Adhesive Technologies to offset raw material price headwinds ▪ Strong adj. EBIT margin demonstrating strength and high quality of businesses ▪ Successfully delivering on our M&A growth strategy – acquisitions with first positive sales & earnings contributions in FY 2026 ▪ Outlook 2026: upgraded top-line expectations for the Group and Adhesive Technologies on the back of strong H1 performance STRONG TOP- AND BOTTOM-LINE PERFORMANCE IN H1 2026
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QUESTIONS & ANSWERS HENKEL H1 202636
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UPCOMING EVENTS HENKEL H1 202637 2026 MAR 8 | FY 2026 RELEASE Annual Report AUG 6 | HY 2026 RELEASE Half-Year Report NOV 10 | Q3 2026 RELEASE Quarterly Statement 2027
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THANK YOU. HENKEL H1 202638
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HENKEL H1 202639 SALES BY BUSINESS UNIT AND BUSINESS AREA Q1, Q2 & H1 2026 Q1 2026 Q2 2026 H1 2026 €m Sales OSG Sales OSG Sales OSG HENKEL GROUP 4,952 1.7% 5,396 4.7% 10,348 3.2% ADHESIVE TECHNOLOGIES 2,627 1.7% 2,908 7.4% 5,534 4.5% MOBILITY & ELECTRONICS 977 6.7% 1,106 8.8% 2,083 7.8% PACKAGING & CONSUMER GOODS 758 0.5% 831 9.1% 1,589 4.7% CRAFTSMEN, CONSTRUCTION & PROFESSIONAL 892 -2.3% 971 4.4% 1,862 1.0% CONSUMER BRANDS 2,285 1.8% 2,448 1.6% 4,733 1.7% LAUNDRY & HOME CARE 1,352 0.1% 1,417 1.3% 2,768 0.7% HAIR 797 5.1% 885 3.3% 1,683 4.2% OTHER CONSUMER BUSINESSES 136 0.5% 146 -4.6% 282 -2.1%
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HENKEL H1 202640 SALES, ADJ. EBIT AND ADJ. EBIT MARGIN BY BUSINESS UNIT H1 2026 Sales Adj. EBIT Adj. EBIT margin €m H1 2025 H1 2026 YoY OSG H1 2025 H1 2026 H1 2025 H1 2026 HENKEL GROUP 10,402 10,348 -0.5% 3.2% 1,614 1,620 15.5% 15.7% ADHESIVE TECHNOLOGIES 5,416 5,534 2.2% 4.5% 931 982 17.2% 17.7% MOBILITY & ELECTRONICS 1,943 2,083 7.2% 7.8% PACKAGING & CONSUMER GOODS 1,588 1,589 0.1% 4.7% CRAFTSMEN, CONSTRUCTION & PROFESSIONAL 1,885 1,862 -1.2% 1.0% CONSUMER BRANDS 4,907 4,733 -3.5% 1.7% 748 724 15.3% 15.3% LAUNDRY & HOME CARE 2,983 2,768 -7.2% 0.7% HAIR 1,621 1,683 3.8% 4.2% OTHER CONSUMER BUSINESSES 303 282 -6.8% -2.1%
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HENKEL H1 202641 OUTLOOK 2026 ADDITIONAL INPUT FOR SELECTED KPIS CURRENCY IMPACT ON SALES Low single-digit % negative1 M&A IMPACT ON SALES Low single-digit % positive PRICES FOR DIRECT MATERIALS2 High single-digit % increase1 RESTRUCTURING CHARGES € 150 – 200m CAPEX € 650 – 750m 1 versus the prior year average 2 gross direct material price development, i.e. before countermeasures
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HENKEL H1 202642 BALANCED AND DIVERSIFIED PORTFOLIO 36% 29% 35% Mobility & Electronics Packaging & Consumer Goods Craftsmen, Construction & Professional €10.7bn SALES 52% 47% €20.5bn SALESADHESIVE TECHNOLOGIES CONSUMER BRANDS 60% 34% 6% Laundry & Home Care Hair Other Consumer Businesses €9.7bn SALES 38% 17% 10% 7% 26% 1% Europe Asia/Pacific IMEA Latin America North America Corporate 1% Corporate FY 2025
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