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Earnings call : H1 results 2026 August 6 , 2026 OHB 1
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A European Space Champion Europe’s leading pure-play Space prime with strong German heritage Structural market tailwinds Exposure to large end-markets with structural long-term growth tailwinds Clear right-to-win Multi-decade track record, outstanding technology leadership and deep customer embeddedness Scaled operations Large European footprint and proven ability to industrialize in line with rapidly growing demand Attractive financial profile Profitable growth with record order backlog and strong order pipeline supporting long-term visibility A EUROPEAN CHAMPION IN THE GROWING SPACE ECONOMY EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 2 1 2 3 4 5 1 of 3 Large system integrators in Europe for Space Systems > EUR 100 billion / EUR 1.5 trillion European Space & Defense demand / Total Space economy (’35E) 30+ Years of Space prime heritage >65,000 sqm Manufacturing area 21% / EUR 3.2 billion FY 2025 Total operating performance growth / Order backlog Note: European Space demand data figure is comprised of (i) ESA MC 2025 commitments of EUR 22.3 billion, for the periods 2026-2028 , (ii) EU MFF 2028-2034 Space & Defense budget of EUR 131 billion, and (iii) Germany’s 2026-2030 Space Security Funding of EUR 35 billion. Global Space TAM data estimated for 2035 and derived from World Economic Forum, “Space: The 1.8 Trillion Opportunity for Global Economic Growth”, April 2024, in knowledge partnership with McKinsey & Company Total operating performance is defined as the sum of sales, changes in inventories of finished goods and work in progress, other own work capitalized and other operating income
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A SCALED SPACE COMPANY EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 3 SPACE SYSTEMS ACCESS TO SPACE DIGITAL Satellite and spacecraft development, integration and mission delivery across all domains, orbits and applications Germany’s leading industrial partner to Ariane, provider of Spaceport services, supplier to US launchers, and developer of small launchers Ground systems and satellite operations, with AI-enabled data processing, cybersecurity, and downstream Earth observation services Key programsKey programs Key programs 76% 13% 11% % of FY2025 Total operating performance(a) European Offshore Spaceport Key U.S. launch providers LISA Source: Company Management (a) Percentages shown are calculated based on the sum of the three segments SPACE SYSTEMS, ACCESS TO SPACE, and DIGITAL, excluding Holding and Consolidation. Total operating performance is defined as the sum of sales, changes in inventories of finished goods and work in progress, other own work capitalized and other operating income SATCOMBw3 Heinrich Hertz Ariane 6 Galileo MTG SAR-Lupe RFA micro launcher Data analytics Satellite operations
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EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 44 Q2 2026 RECAP
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Capital increase of EUR 484 million completed, additional increase of free float resulting in likely inclusion in TecDax- and SDAX as of Sep. 2026 STRONG H1 RESULTS SHOW PROFITABLE GROWTH KEY MESSAGES Q2/H1 2026 EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 5 Entered multiple partnerships to drive further growth Operational milestones across ongoing projects reached Significant progress at RFA, on track to launch later this year Successful continuation of internationalization strategy Double-digit growth of total operating performance and strongly improved adj. EBITDA (+31 %) FY 2026 guidance confirmed Successful hiring of industry experts ongoing Order Intake – continued strong momentum with peak in H2
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GERMAN FEDERAL MINISTER OF DEFENSE VISITS OHB BMVG HIGHLIGHTS OHB‘S ROLE AS THE CENTRAL PARTNER FOR NATIONAL SPACE AMBITION* EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 6 On July 14, Federal Minister of Defense Boris Pistorius visits OHB, underscoring the industry’s strategic importance ▪ Discussions with the management team focused on the role of the space sector in strengthening national and European sovereignty ▪ Further discussions with employees and students enrolled in OHB’s dual-study programs highlighted the opportunities the space sector offers, and underscored the extent to which space technologies are embedded in everyday life. With 45 years of experience, highly specialised expert teams, and unique space expertise, OHB stands ready to help ensure that Europe remains capable of acting independently, that Germany strengthens its defence capabilities, and that we continue to expand our technological independence in space. Marco Fuchs * Source: https://www.bmvg.de/de/aktuelles/pistorius-technologieunternehmen-ohb-6121354
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STRONG INTEREST IN OHB AT THE INTERNATIONAL AEROSPACE EXHIBITION (ILA) IN BERLIN EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 7 ▪ Representatives from various Group companies exchanged views with representatives from politics, space agencies, academia, and industry on the potential applications and benefits of space solutions under the theme “Pioneering Aerospace.” ▪ During his visit, German Chancellor Friedrich Merz spoke with Marco Fuchs (CEO, OHB SE), Sabine von der Recke (Member of the Management Board, OHB System AG), and Dr. Stefan Brieschenk (COO, Rocket Factory Augsburg AG) about, among other things: − Independent German and European access to space − Current launcher initiatives − The expansion of launch site infrastructure in Europe.
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OHB RHEINMETALL SPACE NETWORKS: NEXT LEVEL COMMUNICATION ARCHITECTURE FOR GERMAN BUNDESWEHR EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 8 Joint venture between OHB and Rheinmetall strengthens Europe’s technological autonomy and Germany’s ability to pursue its security policy objectives ▪ Cornerstone project of the new German space-based military strategy ▪ Intended to provide the Bundeswehr with a high-performance, secure, and continuously available communications architecture as part of SATCOMBwPhase 4 ▪ System is designed to connect soldiers, vehicles, platforms, and drones and to securely transmit voice, data, and real-time information across all levels of command ▪ The new company is going to assume overall responsibility: From development and integration through delivery to operations, including IT security and the Cyber Operations Center ▪ Possibility to contribute its capabilities to NATO partnerships and the Framework Nations Concept in the future
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KIRK JOINT VENTURE: NEXT GENERATION OF AI-BASED RECONNAISSANCE EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 9 Intending to close a critical capability gap on the modern battlefield by enabling tactical reconnaissance from space ▪ OHB and Helsing jointly lead the consortium also including Kongsberg Defence & Aerospace and HENSOLDT ▪ Development of a space-based tactical surveillance and reconnaissance solution combined with an AI-based target acquisition system − Working towards a radical reduction in latency between data collection and target engagement, by adopting a software-centric approach, including the implementation of AI to control the overall system and improve real-time capabilities through optimizations of onboard capabilities − Greater involvement of SMEs and startups planned: Seven letters of intent with space startups and SMEs signed at the International Aerospace Exhibition (ILA) in Berlin. Important next step toward strategically leveraging the innovative strength of the German and European New Space ecosystem, thereby accelerating the development of a technologically leading and globally competitive space industry
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VORTEX-S: SETTING OUT TO ADVANCE EUROPE'S FUTURE IN SPACE MOBILITY EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 10 Reusable orbital spaceplane for multipurpose space missions ▪ Dassault Aviation and OHB announced their intention to submit a joint proposal to the European Space Agency ESA for VORTEX-S − Core team consists of Dassault Aviation as the lead architect and global integrator of the spaceplane and OHB as the architect and integrator of the service module − Discussions are currently underway with other leading European space companies to expand the consortium ▪ Designed to enable both the transport of cargo to and from space stations and to carry out autonomous free-flyer missions
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SUCCESSFUL CONTINUATION OF OUR INTERNATIONALIZATION STRATEGY EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 11 ▪ OHB SPACE UK: − Already contracted with EUR 24 million contract for ESA mission EnVision – further order intake expected − Successful market entry into the United Kingdom: − Strong order intake provides excellent growth path − Company intends to grow from 14 to more than 100 highly qualified engineers over the next years − One of England’s largest and mostfive modern cleanrooms is currently being built at the new company site in Bristol ▪ OHB Czechspace: − ESA Earth observation mission SOVA-S for monitoring of atmospheric gravity waves selected for implementation with a budget of up EUR 35 million. − First prime contract for the company, which will now build the largest satellite in Czech history
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OPERATIONAL MILESTONES REACHED ACROSS ONGOING PROJECTS EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 12 ▪ RAMSES − Planetary defense mission entered integration phase − Contract for the HAMLET hyperspectral camera, a key instrument for the mission, signed by prime contractor OHB Italia − Heritage of the Hera mission, developed and built by OHB in just 4 years, enables the company to execute RAMSES in record time: 3.5 years for development, integration and testing of the probe − Contract volume: EUR 140 million ▪ PLATO − Concluded environmental test campaign with successful thermal vacuum tests − Aimed at demonstrating reliable operation under space conditions, these are among the most demanding phases of qualification − Launch currently scheduled for January 2027 − Contract volume: EUR 288 million
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OHB ITALIA SELECTED TO BUILD NEXT GENERATION PRISMA SATELLITE EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 13 Ensuring continuity of Italy’s next-generation hyperspectral Earth observation capabilities ▪ Strengthening our position as one of Europe’s leading providers of Earth observation systems and hyperspectral space missions − Underscoring the confidence placed in OHB Group’s longstanding expertise in the field − Building on successful first generation PRISMA mission, operating since 2019 ▪ Intended to deliver highly accurate data for applications including: − Environmental and climate monitoring − Resource management − Disaster assessment ▪ Contract volume: EUR 82 million
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SIGNIFICANT PROGRESS AT RFA EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 14 ▪ Rocket Factory Augsburg (RFA) reaches further milestones toward the first test flight of RFA ONE − Applied for approval of Test Flight 1 from the SaxaVord Spaceport on the Shetland Islands in Scotland − Successful qualification and integration of all nine engines into the first stage of the RFA ONE launcher − Fully integrated RFA ONE reaches launch pad for the first time ▪ Contract for European Launcher Challenge (Grant volume: EUR 187 million); first instalment of EUR 30 million received ▪ Next steps: − Launch preparation ongoing − First-stage hot-fire test − RFA remains on track for first test flight later this year
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SUCCESSFUL LAUNCHES EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 15 ▪ Space Launch System (SLS) − Successful launch of the Artemis-II mission on April 2 marks an important step toward humanity‘s return to the Moon − Since 2013, MT Aerospace has been a qualified supplier and partner of Boeing for NASA’s SLS, and as such, its safety-critical structural components are part of every launch ▪ Ariane 6 − Conducted two successful flights on April 30 and June 17 in the Ariane 64 configuration for the Amazon Leo constellation − Improved P160C engines used on the second flight for the first time, further increased payload capacity of the launcher − After four launches in 2025 and with eight and ten launches planned for 2026 and 2027, respectively, increase in launch cadence remains on track
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CAPITAL INCREASE SUCCESSFULLY COMPLETED (I) TRANSACTION OVERVIEW EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 16 Against the backdrop of a booming space industry, company’s share capital has been increased by partially utilizing the Authorized Capital 2025 ▪ Industry boom driven by geopolitical developments, growing defense budgets, and a renewed European focus on technological sovereignty ▪ Transaction consisted of issuance of 1,613,023 new shares in exchange for cash contributions ▪ Fuchs family did not participate as a selling shareholder and remains OHB’s majority shareholder and Orchid Lux HoldCo S.à r.l retained the majority of its current shareholdings ▪ SDAX and TecDAXinclusion expected for September 2026 Gross proceeds of EUR 484 million from the issuance of the new shares accrued in full to OHB Fuchs family 60.3% Orchid Lux HoldCo S.à r.l.(2) 19.7% Free float 19.7% Treasury shares 0.3% Shareholder structure(1) (1) as of completion of June share placement (2) an entity controlled by KKR
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General corporate purposes CAPITAL INCREASE SUCCESSFULLY COMPLETED (II) CAPITAL REQUIREMENTS – OUR KEY INVESTMENT AREAS EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 17 Indicative Use of Proceeds Split Investment Area Description Industrialization ∑ EUR 484 million Future programs M&A opportunities Launch vehicles Significant investments in production facilities to enable strong growth via continued industrialization Various tangible projects, incl. Lunar Exploration, LEO Economy, Vortex- S, and Frontier Applications Strong market consolidation driving shifts in supply chain dynamics across Europe with visible M&A opportunities Co-funding for RFA as one out of four companies selected for the ELC – with the goal of becoming a European leader in micro launches
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ESA, EU AND NATIONAL BUDGETS ARE EXPANDING EUROPE’S INSTITUTIONAL SPACE FUNDING BACKDROP EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 18 EUR 131 billion EU MFF 2028-2034 Defense & Space Germany 2026-2030 Military Space Funding ESA 2026-2028 MC25 Budget >4x increase from 2021-2027 budget EUR 35 billionEUR 22 billion Strategic shift in Germany’s approach to Space as a sovereign technology and security priority 32% budget increase vs. MC22 Source: ESA, ESA Member States commit to largest contributions at Ministerial, European Commission, “Protecting Europe,” EU budget 2028–2034 explained. German Federal Ministry of Defence (BMVg), “Bundesregierung stellt erste Weltraumsicherheitsstrategie vor,” 19 Nov 2025
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EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 1919 H1 2026 TRADING UPDATE
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H1 2026 H1 2025 YoY in % Total operating performance 628 564 +11 Adjusted EBITDA 60 46 +31 Adjusted EBIT 39 27 +46 Adjusted Free Cash Flow pre-TWC 17 14 +20 Adjusted Free Cash flow -195 -101 neg. Share of OHB SE shareholders in net profit for the period 5 11 -56 EPS (EUR) 0.25 0.57 -56 Net leverage ratio -1.1x 1.9x n.a. Order backlog (June 30) 3,304 3,067 +8 Order intake 572 1,089 -48 Book-to-bill 0.9x 1.9x n.a. Employees (June 30) 4,094 3,552 +15 THE GROUP IN BRIEF FINANCIAL FIGURES IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 20 ▪ Strong margin improvement, reported profitability burdened by transaction costs one-off effects ▪ Front-loaded order intake in 2025, dominated by LISA contract (Contract volume: EUR 839 million) ▪ Majority of 2026 order intake expected for H2 and above previous year’s level ▪ Cash development in line with net working capital profile ▪ Financial guidance for 2026 confirmed Commentary
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534 834 1200 1000 1600 2300 2100 1700 1600 2439 2399 1840 2632 2121 1875 1749 2382 3194 3304 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 Q2 2026 OHB IS READY FOR SIGNIFICANT GROWTH AT CURRENT RECORD BACKLOG LEVELS EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 21 ▪ Entering the next ESA cycle with significant backlog, also setting a record-high base for future order backlog and growth visibility ▪ Further order intakes in the near- term expected to drive future Backlog and topline development ESA Ministerial Conferences (MC) Order backlog MC ‘16 MC ‘19 MC ‘22 MC ‘25 Commentary
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DEVELOPMENT OF FINANCIAL KEY FIGURES FOR THE GROUP IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 22 H1 2026 Adj. EBITDA margin: 9.6 % (H1 2025: 8.2 %) 443 457 470 564 628 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Total operating performance 42.8 44.1 40.7 45.9 60.4 25.4 26.0 22.2 26.5 38.9 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Profitability Adjusted EBITDA Adjusted EBIT
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GERMAN HEADQUARTERED – EUROPEAN CHAMPION – FULLY CAPITALIZING ON EUROPEAN SPACE AND DEFENSE TRENDS, CHANGING THE FUTURE BUSINESSMIX TOPLINE SPLIT: WELL-POSITIONED FOR GLOBAL GROWTH IN SPACE & DEFENSE ALIKE EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 23 30% 66% 4% 74% 16% 10% Germany Rest of Europe Rest of World SPACE SYSTEMS ACCESS TO SPACE DIGITAL ▪ Strong domestic market position in Germany and Europe ▪ ESA programs and pan- European space initiatives driving European performance ▪ SPACE SYSTEMS as a key driver of historic growth ▪ Relatively small share of nascent DIGITAL segment with significant growth potential ▪ Growing exposure to high- profitability defense missions, including dual-use products ▪ Well-positioned to capture upside from ongoing defense super-cycle Depending on key project intake beyond pipeline and dual-use nature of projects ~EUR 20 billion(1) Institutional Defense Excludes Holding and Other; Revenue and total operating performance figures based on FY2025; Pipeline by end market is a mid-term figure and not based on FY2025 (1) Pipeline calculated based on the sum of the three segments Space Systems, Access to Space, and Digital, excluding Holding and Consolidation Revenue by region Total operating performance by segment Pipeline by end market
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RECONCILIATION OF EBITDA TO ADJUSTED EBITDA* 36.4 1.9 0.4 21.4 0.3 60.4 EBITDA Transformation costs Impairments and reversals Transaction costs Other Adjusted EBITDA H1 2026 IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 24 +31 % * = Further information is available in our annual report 2025 41.6 2.5 0.4 1.4 45.9 EBITDA Transformation costs Impairments and reversals Other Adjusted EBITDA H1 2025
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SEGMENT FINANCIALS IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 25 ▪ Project based business based on long- term and highly visible project pipeline ▪ Increased industrialization driving growth, with uplift for Digital segment ▪ Product based business as regular and visible performance stream ▪ Fixed-cost base as a strong margin lever as launch cadence increases ▪ Service based business with recurring and highly profitable financial profile ▪ Significant future uplift potential from recurring nature of satellite operations 472 Total operating performance +8% Year-on-year 48 Reported EBITDA 10.1% Reported EBITDA margin(1) 31 Reported EBIT 6.7% Reported EBIT margin(2) 2,566 Order backlog +0% Year-on-year 105 Total operating performance +31% Year-on-year (3) 8 Reported EBITDA 8.0% Reported EBITDA margin(1) 5 Reported EBIT 4.2% Reported EBIT margin(2) 440 Order backlog +34% Year-on-year 64 Total operating performance +11% Year-on-year (3) 4 Reported EBITDA 6.3% Reported EBITDA margin(1) 3 Reported EBIT 4.7% Reported EBIT margin(2) 298 Order backlog +76% Year-on-year SPACE SYSTEMS ACCESS TO SPACE DIGITAL Unless stated otherwise; Excludes total operating performance, EBITDA and EBIT attributable to Holding and consolidation effects (1) Reported EBITDA / Total operating performance (2) Reported EBIT / Total operating performance (3) H1 2025 adjusted for reclassification of operational business as of Q1 2026
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ADJUSTED FREE CASH FLOW IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 26 ▪ Adjusted Free Cash Flow pre-TWC shows organic growth and improved conversion rate despite cash effective one-offs of c. 14 EUR million ▪ TWC seasonally higher in H1 high relevance of net contract assets / liabilities ▪ Key trade working capital items driven by payment profile of customers ▪ CapEx temporarily elevated (+50% YoY) due to investments at MT- Aerospace H1 2026 H1 2025 Rep. EBITDA 36 42 Taxes -4 -1 Other non-cash expenses (+) / income (-) 17 0 Gains (-) / losses (+) from the disposal of assets 0 0 Gross Cash Flow 49 41 CapEx -17 -11 Change in own work capitalized -8 -9 Lease payments -7 -6 Adjusted Free Cash Flow pre-TWC(1) 17 14 Change in inventories -18 -19 Change in trade receivables 10 -64 Change in net contract assets / liabilities -230 -66 Change in trade payables -21 7 Change in provision for outstanding invoices 49 26 Change in trade working capital(2) -212 -115 Adjusted Free Cash Flow(a) -195 -101 (1) Non-GAAP metric aligned with management perspective on cash flow (2) Refers to the sum of changes of the balance sheet line items of i) inventories, ii) trade receivables, iii) contract assets, iv) current and non-current contract liabilities, v) trade payables, and vi) provisions for outstanding invoices (as included in other financial and non-financial liabilities) Commentary
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IMPROVED FINANCIAL POSITION TO EXECUTE ON GROWTH IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 27 H1 2026 Q1 2026 FY 2025 Financial liabilities(1) 340 237 280 Cash and cash equivalents -527 -54 -221 Reported net indebtedness(2) -187 183 60 Lease liabilities 39 38 40 Net Financial Debt -149 221 99 LTM adj. EBITDA 140 131 126 Net leverage ratio -1.1x 1.7x 0.8x Provisions from retirement benefits (3) 71 71 71 ▪ Capital increase significantly increased strategic flexibility by strengthening our balance sheet ▪ Intra-year swings in cash due to contract and invoicing structure are common and can lead to large intra-year differences in leverage, visible in Q1 2026 ▪ Full financial flexibility to execute on growth objectives, M&A, industrialization programs and to support working capital requirements. (1) FY 2025: Financial liabilities includes ~ EUR 55 million in promissory note loans and remainder attributable to RCF drawings (2) Reported net indebtedness denotes Net debt excl. pensions as defined in the Q1 2026 report (3) Calculated based on present value of the defined benefit obligation less value of plan assets as of the respective balance sheet date Commentary 0.8x -1.1x 1.7x
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Rocket Factory Augsburg (RFA) (RFA is consolidated at equity and not included in the mid-term guidance) Inorganic Growth (Guidance reflects only organic developments) FINANCIAL GUIDANCE CONFIRMED 2026E AND STRATEGIC MID-TERM TARGETS EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 28 ▪ Record order backlog and strong order intake drive mid-term growth in total operating performance to > EUR 4.0 billion ▪ OHB continues organic, self-funded growth across all segments ▪ Incremental acceleration of growth therefore not reflected in mid-term guidance ▪ RFA, majority-owned by OHB, boosts exposure to launchers and access to space(2) ▪ Outlook reflects risk-weighted approach to all projects in pipeline, also including Project Unicorn – if awarded, expected to provide very strong support to achieve or exceed strategic midterm targets Total operating performance Indication of adj. EBITDA Adj. EBITDA 2025 Total operating performance & adj. EBITDA (in EUR million) Adj. EBITDA margin (in %) Further upsides 2025 2026E(1) Mid-term 10.1 ∼13.0 1,248 >4,000 10.5 – 11.0 ∼1,400 Supersedes previous guidance for 2026-2028 (1) 2026E adj. EBITDA currently does not reflect potential costs to acquire major contracts of which the accounting treatment andtiming are unclear (2) RFA is majority-owned by OHB (65.1%), and consolidated at equity STRONG GROWTH EXPECTED, SIGNIFICANTLY INCREASING TOTAL OPERATING PERFORMANCE AND PROFITABILITY
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August 6, 2026 H1 2026 results / Earnings call September 9-10, 2026 Jefferies Industrials Conference, New York City September 21, 2026 Berenberg & Goldman Sachs German Corporate Conference, Munich November 12, 2026 9M 2026 results / Earnings call November 17-18, 2026 Deutsche Bank Global Space and Defense Tech Summit, New York City November 23-25, 2026 Deutsches Eigenkapitalforum, Frankfurt (Main) January 11-13, 2027 Commerzbank & ODDO BHF German Investment Seminar, New York City January 19, 2027 UniCredit & Kepler Cheuvreux German Corporate Conference, Frankfurt (Main) FINANCIAL CALENDAR EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 29
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Q&A EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 30
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THANK YOU! 31 OHB SE Manfred-Fuchs-Platz 2-4 28359 Bremen Germany Phone: +49 421 2020 6426 Email: ir@ohb.de Web: www.ohb.de EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026
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EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 3232 APPENDIX
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OUR MARKET OUTLOOK IN TWO PHASES: THE SOVEREIGN RAMP-UP FOLLOWED BY GLOBAL EXPANSION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 33 Institutional civil and defense demand is expected to drive the first visible growth leg 1 Phase 1: 2025–2030 European Institutional & Defense Super-Cycle 2 Phase 2: 2030+ Global, Commercial & Frontier Expansion 2025 Global Space Economy(1) ~ EUR 650 billion Global TAM(2) ~EUR 150 billion EU TAM ~EUR 27 billion Global Space Economy(1) ~ EUR 1,000 billion Global TAM(2) ~EUR 225 billion EU TAM ~EUR 46 billion Global Space Economy(1) ~EUR 1,500 billion Global TAM(2) ~EUR 345 billion EU TAM ~EUR 84 billionExpansion to Global TAM EU TAM growth 2030 2035 Zoom-in: 2025+ Next era of Space Represents markets expected to be addressable by OHB at each Phase Planned international expansion and frontier applications expected to broaden the addressable pool✓ ✓ Source: WEF & McKinsey, Space: The $1.8 Trillion Opportunity for Global Economic Growth (2024); OHB analysis based on market reports, public announcements, WEF & McKinsey (2024) (1) Global Space Economy TAM includes all economic activity enabled by the Space sector, including second-order services enabled by Space (2) TAM is defined as Total Addressable Market linked directly to in-space assets (i.e., includes satellites, launch services, downstream services but excludes satellite TV / satellite telephony, etc.)
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16 50(1) 10 81 26 131 2021-2027 2028-2034 EU FUNDING PROPOSALS POINT TO A BROADER STEP-CHANGE IN EUROPEAN SPACE AND DEFENSE SPENDING EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 34 in EUR billion Space Defense GALILEO / EGNOS EU’s global and regional satellite navigation systems COPERNICUS EU’s Earth observation program IRIS2 New multi-orbit connectivity infrastructure OHB as prime contractor for first-generation satellites OHB as prime contractor for CO2M satellites OHB is a core team partner for SpaceRISE consortium Strategic shift in focus Bigger envelope, broader scope Security-relevant segments likely to grow From capability to deployability Dual-use companies best positioned Announced budget increase by domain 2028-2034 trends2021-2027 priorities Source: European Commission, BDLI, OHB analysis based on market reports, public announcements (1) It is estimated that €25bn of the overall €50bn can be dual-use and also be considered as defense spend
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921 1,671 2,079 2023 2024 2025 Order intake in EUR million STRONG ORDER INTAKE MOMENTUM: EVEN BEFORE ENTERING THE NEW SUPER-CYCLE EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 35 ▪ Strong institutional demand across ESA and EU driving order intake growth – already before the ongoing super-cycle ▪ Consistently high book-to-bill ratio supporting long-term growth ▪ Step-change from 2023 to 2025: Major contract wins plus increasing program sizes ▪ Pipeline consists of multi-year contracts with total operating performance recorded as milestones are reached 1.7x1.6x0.9x(a) (1) 2023 total operating performance adjusted for the impact of deconsolidation and revaluation effects of RFA amounting to €114m, for further details please refer to p.57 of the 2024 Annual Report (2) Sum of active sales opportunities where the estimated total probability of winning equals or exceeds 50% >50% Book-to-bill ratio 3,194 3,304 2025 H1 2026 Order backlog in EUR million ~20 Mid-term Pipeline(b) in EUR billion Commentary
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STRONG PIPELINE OF ATTRACTIVE UPCOMING OPPORTUNITIES EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 36 Earth Observation Satellites Backbone for EU Copernicus environmental monitoring system Sentinel Navigation Demonstration Satellites Enhancing Galileo constellation with cross-segment revenue opportunities LEO-PNT Germany’s Sovereignty Project Next level communication architecture for Bundeswehr SATCOMBw4 Hyperspectral Earth Observation Italian-led system for environmental monitoring and analysis Prisma2 Secure Satellite Communication EU sovereign multi-orbit connectivity infrastructure system IRIS2 Space-Based Missile Defense System Germany’s architecture for missile threat detection and response SBMD1 Space-Based Missile Warning System European early warning initiative led by Germany and France ODIN’S EYE Resilient & Autonomous Navigation In-orbit demonstrator for optical time synchronization and ranging OpSTAR Won
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Production ramp-up: Up to >1,000 units per year Missiles ▪ Supplier to national and European landmark programs with industrial scaling focus ACCESS TO SPACE: SHORT-TERM GROWTH VIA INDUSTRIAL SCALING AND EXECUTION OF EXISTING PROGRAMS AND CONTRACTS EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 37 Production ramp-up: Up to 100 launches per year US Launcher (e.g., Artemis, SLS) ▪ Industrial partner for SLS launches, future Artemis Moon missions and two commercial launch vehicles Industrialization ramp-up: Up to 10 launches per year European Launcher (Ariane 6) ▪ >10% workshare since 2014 SPACE Defense
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ACCESS TO SPACE: MID-TERM GROWTH VIA NEXT GENERATION PROGRAMS AND EXTENSION OF CAPABILITIES EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 38 European Spaceport Company ▪ Maritime & land launch options, incl. offshore spaceport & expanded Kourou capacity In-Space Operations ▪ Pilot in-space refueling & propellant depot for institutional missions Hypersonic Missiles and Next-Gen Air Defense ▪ Program partner for key initiatives to expand sovereign capability in Air Defense and Hypersonic Next-Gen European Large Launcher ▪ Development of next-gen European launcher ▪ Heavy-lift design emphasizes reusability, leveraging RFA ONE development SPACE Defense
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DIGITAL: TWO DIFFERENT OPPORTUNITIES ENABLE FUTURE GROWTH EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 39 Data servicesSovereign connectivity ▪ New space capabilities require major ground infrastructure investment ▪ Mobile, resilient systems enable tactical constellation use ▪ OHB builds & operates solutions from unclassified to secret and is well-positioned to benefit from rising defense demand ▪ Four mega trends drive future demand: − Phase 1: Institutional and defense: 2.7x growth of geospatial analytics market 2025-2030, driven by ESA, European Commission & national defense − Phase 2: Commercial uptake: Commercial demand follows dual-use infrastructure & operations Security, Defense & Geopolitical Instability Agentic AI, Digitalization & Connectivity Disaster Management & Resilience Climate Change & Environmental Monitoring Source: Analysys Mason, McKinsey Team Analysis
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READY TO MEET RISING DEMAND EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 40 Additional sites located in Chile & French Guiana Bremen, Headquarters 18 locations / 11 countries Across key European Space hubs Bremen expanded (2020) +700 sqm cleanroom, +1,350 sqm labs, and 1,400 sqm ISO 8 cleanroom / PLATO Hall OHB’s new Bristol subsidiary (2025) Introduced to UK’s key Space markets OHB Sweden's new Kista site (2025) >2x manufacturing & cleanroom area OHB Germany’s newly acquired electronics components manufacturing plant (2025) Supporting industrialized satellite production ~4,000 headcount Including ~3,500 engineers & technicians Kista, Cleanroom facility Recently scaled production footprint Torino, AIT facility Bristol, Spacecraft AIT facility Increases satellite production capacity with 800 m2 of cleanrooms Adds scalable UK AIT capacity with a 1,112 m² cleanroom Cleanroom production capacity with upgraded facilities Augsburg, Launcher infrastructure Schoeneck, Electronics components Oberpfaffenhofen, Optics & Science
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SPACE SYSTEMS IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 41 365 356 389 439 472 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Total operating performance 30.1 33.9 33.6 33.7 47.8 17.4 21.1 20.5 18.8 31.4 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Profitability EBITDA EBIT H1 2026 EBIT margin: 6.7 % (H1 2025: 4.3 %)
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ACCESS TO SPACE IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 42 54 60 63 71 105 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Total operating performance 6.7 5.4 5.9 6.7 8.4 3.2 1.3 1.8 3.2 4.5 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Profitability EBITDA EBIT H1 2026 EBIT margin: 4.2 % (H1 2025: 4.5 %)
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6.1 4.7 1.8 2.3 4.0 4.9 3.5 0.5 1.3 3.0 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Profitability EBITDA EBIT DIGITAL IN EUR MILLION EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 43 49 52 52 67 64 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 Total operating performance H1 2026 EBIT margin: 4.7 % (H1 2025: 1.9 %)
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ASSETS IN EUR 000 EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 44 June 30, 2026 December 31, 2025 Δ in % Non-current assets 533,019 519,069 +3 Property, plant and equipment 113,089 105,039 +8 Rights of use from leasing agreements 38,356 38,369 0 Other intangible assets 145,741 145,501 0 Others 235,833 230,160 +2 Current assets 1,580,459 1,047,309 +51 Inventories 62,157 44,455 +40 Trade receivables 71,700 81,397 -12 Contract assets 872,507 654,183 +33 Cash and cash equivalents 526,939 220,609 +140 Others 47,156 46,665 +1 Total assets 2,113,478 1,566,378 +35
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ASSETS IN EUR 000 EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 45 June 30, 2026 December 31, 2025 Δ in % Equity 915,640 431,358 +112 Non-current liabilities and provisions 338,956 331,506 +2 Provisions for pensions 70,874 71,198 0 Leasing liabilities 29,819 29,212 +2 Deferred tax liabilities 83,709 75,029 +12 Others 154,554 156,067 -1 Current assets 858,882 803,514 +7 Trade payables 120,229 143,180 -16 Contract liabilities 270,986 283,608 -4 Current financial liabilities 280,286 221,609 +26 Others 187,381 155,117 +21 Total liabilities 2,113,478 1,566,378 +35
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SHARE PRICE PERFORMANCE JANUARY 3, 2025 - AUGUST 4, 2026 | IN % EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 46 80 280 480 680 880 1080 1280 1480 2025-01-03 2025-07-03 2026-01-03 2026-07-03 DAX TecDAX STOXX Europe A&D EN Helios Space OHB