Slides
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August 22, 2025 Publication of half-year report
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PFISTERER overview
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+20 years of industry experience +13 years of tenure at PFISTERER(1) Previously at: +20 years of industry experience +2 years of tenure at PFISTERER Previously at: Management Board PFISTERER | Publication of half-year report | August 2025 3 Co-CEO (Management Board Member & Speaker of the Executive Board) PFISTERER Holding SE, Germany Key responsibilities: Operations and Finance Co-CEO (Management Board Member) PFISTERER Holding SE, Germany Key responsibilities: Sales and Technology Johannes Linden Dr. Konstantin Kurfiss Note(s): (1) Not consecutive. Dr. Konstantin Kurfiss has worked at PFISTERER for c.12 years in total, from 2005 to 2013 and from 2020 until today Source(s): Company information
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4 “Be the preferred partner for innovative, reliable and mission- critical electrical connection and insulation solutions” 4
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High Voltage (HV) > 53 kV Overhead Line Substation Solar Power distribution Offshore Wind Repair- & emergency solutions ÜBERTRAGUNG Safety equipment Rail & mobility Medium Voltage (MV) > 1kV < 53 kVLow Voltage (LV) <1kV PFISTERER | Company presentation | January 2025 Underground Cable 5 Cable-agnostic electrical connection and insulation solutions across the entire power value chain and all voltage levels TransmissionGeneration Distribution Onshore Wind Source(s): Company information PFISTERER | Publication of half-year report | August 2025 Nuclear energy
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PFISTERER’s setup ensures proximity to its highly-diversified customer base via a global distribution network Note(s): HVA: High Voltage Cable Accessories; MVA: Medium Voltage Cable Accessories; OHL: Overhead Lines; COM: Components; (1) Consolidated H1 2025 IFRS figures, unaudited Source(s): Company information Revenue split H1/2025(1) By geography Revenue split H1/2025(1) By segment PFISTERER | Publication of half-year report | August 2025 Poland Brazil Argentina USA Switzerland United Arab Emirates Italy Spain France United Kingdom China China South Korea Germany (HQ) Germany Germany Czech Republic Production excellence hubs (5 operational facilities) Distribution excellence hubs Global footprint with presence across 90+ countries Saudi Arabia Selected customers Cables Utilities Contr- actors OEMs Distri- butors network Fulgor S.A. 6 Europe & Africa 54% Americas 15% Middle East & India 22% Asia-Pacific 9% HVA 40% COM 24% OHL 23% MVA 14%
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Ongoing positive market environment in the second quarter of 2025 supports PFISTERER’s growth and opportunities 1 Increase in electricity demand driven by digitalization & AI +1,500 TWh of additional electricity demand from AI data centers by 2030 – equivalent to three times Germany’s current electricity consumption, requiring massive grid reinforcements and new infrastructure.(1) 4 Massive U.S. investments in high-voltage technology strengthen the market for connection systems Over $2 trillion in infrastructure investments expected by 2050, with a focus on local manufacturing of high-voltage components. (6) e.g. GE Vernova is investing $100 million in Charleroi, PA, to expand production of high-voltage switchgear and transformers – part of a $600 million nationwide U.S. expansion program.(7) 2 High-level grid modernization in Europe Europe faces urgent grid modernization needs, with €2 to 2.3 trillion required by 2050 versus current plans of ~€1.9 trillion (2); aging infrastructure and high renewable shares (~59%) pose blackout risks, as seen in the April 2025 Spain-Portugal outage.(5) 3 Rising Global Power Demand Drives Grid Investments and Order Growth in High-Voltage Sector +7.8% organic growth in electrification segments (Nexans, H1 2025), with a focus on power transmission, offshore wind, and gr id integration; PFISTERER is well positioned with high-voltage fittings, joints, and sensor technology.(4) 7 Source(s): (1) International Energy Agency (IEA), 2025; (2) European Court of Auditors and European Commission on Power Grid Infrastructure, 2025; (3) International Energy Agency (IEA), 2025; (4) Nexans Half-Year Report H1 2025; (5) Deutsche Welle, Reuters; (6) Goldman Sachs Global Investment Research, 2025; (7) gevernova.com, July 2025. PFISTERER | Publication of half-year report | August 2025
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Financial performance H1 | 2025
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Strong Order Growth continues to drive Revenues while maintaining high margins 9 Key Comments ▪ Significant increase in Order Intake with solid margins across all product segments and all regions ▪ Region Middle-East & India stings out with increase of +179% ▪ Continued Gross Result leads to higher EBITDA and EBIT. ▪ Strong HVA and MVA revenues in combination with improved high-margin OHL products lead to Gross margin of 42,1%. The gross margin in the OHL segment amounted to 43.3% and resulted, among other things, from lower cost of sales of the production site in Kadan (Czech Republic). ▪ Negative Impact on Operating Cash Flow mainly due to higher NWC from trade receivables caused by revenue growth and regional mix. ▪ Lower Net Debt caused by higher cash and cash equivalents (+50,0 MEUR) in conjunction with IPO. PFISTERER | Publication of half-year report | August 2025 (1) EBITDA adjusted for personnel expenses related to the one-off IPO related virtual share option program; (2) Consolidated H1 2025 IFRS figures, unaudited EUR thousand H1/2025(2) H1/2024(2) Change Order book (as of 30.06.2025) 312.469 198.700 57,3% Order Intake 290.218 200.589 44,7% Earnings figures (IFRS) Revenue 213.562 195.085 9,5% Gross result 90.004 76.157 18,2% Gross margin 42,1% 39,0% +3,1%pt EBITDA 36.774 32.769 12,2% EBIT 30.607 26.918 13,7% Result for the period 21.787 16.368 33,1% R&D-Ratio 5,5% 5,1% +0,4%pt Operating Cash Flow 490 33.187 -98,5% Earnings figures (adjusted) Adj. EBITDA 39.495 34.895 13,2% Adj. EBITDA-Margin in % 18,5% 17,9% +0,6%pt Balance Sheet Figures (IFRS) 30.06.2025(2) 31.12.2024 Net Debt 8.129 63.708 -87,2% Net Working Capital as % of Revenue 30,0% 25,8% +4,2%pt Employees 1.316 1.239 6,2%
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Strong Q2 result driven by volume and margin growth – overcompensating IPO-related one-off costs 10 Key Comments ▪ Significant increase in Order Intake and Order book with solid margins across all product segments ans all regions ▪ Continued Gross Result due to volume and margin growth leads to higher EBITDA and EBIT. Mainly high-margin OHL products in Middle East and India improve change in gross result compared to Q2 PY. ▪ The result for the period is significantly higher compared to Q2 of the previous year, mainly due to higher EBIT and lower tax expenses. ▪ Negative Impact on Operating Cash Flow mainly due to higher NWC from trade receivables caused by revenue growth and regional mix. ▪ Lower Net Debt caused by higher cash and cash equivalents (+50,0 MEUR) in conjunction with IPO. PFISTERER | Publication of half-year report | August 2025 EUR thousand Q2/2025(2) Q2/2024(2) Change Order book (as of 30.06.2025) 312.469 198.700 57,3% Order Intake 146.063 94.134 55,2% Earnings figures (IFRS) Revenue 113.436 93.529 21,3% Gross result 47.946 37.267 28,7% Gross margin 42,3% 39,8% +2,5%pt EBITDA 17.047 13.859 23,0% EBIT 13.961 10.971 27,3% Result for the period 10.067 5.790 73,9% R&D-Ratio 5,6% 5,6% 0,0%pt Operating Cash Flow 6.151 9.403 -34,6% Earnings figures (adjusted) Adj. EBITDA 18.528 14.893 24,4% Adj. EBITDA-Margin in % 16,3% 15,9% +0,4%pt Balance Sheet Figures (IFRS) 30.06.2025(2) 31.12.2024 Net Debt 8.129 63.708 -87,2% Net Working Capital as % of Revenue 30,0% 25,8% +4,2%pt Employees 1.316 1.239 6,2%(1) EBITDA adjusted for personnel expenses related to the one-off IPO related virtual share option program; (2) Consolidated Q2 2025 IFRS figures, unaudited
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Massive increase in Order Intake with healthy organic sales development Note(s): (1) Order intake = receipt of customer orders; (2) Consolidated H1 2025 IFRS figures, unaudited Revenues (2) (€m) 11 Order book (1,2) (€m) Key Comments ▪ Strong increase in Order book due to higher Order Intake in all segments ▪ Region Europe & Africa and Middle East & India with higher Order book compared to PY. ▪ At EUR 113.4 million, consolidated sales in the second quarter reached once again a record level. ▪ average quarterly revenue 2023 at EUR 83,5 million ▪ average quarterly revenue 2024 at EUR 95,8 million ▪ average quarterly revenue 2025 at EUR 106,8 million, year-to-date ▪ Strong Q2 Revenues development in HVA and OHL product segments driven by Region Middle East and India (EUR +11.9 million) PFISTERER | Publication of half-year report | August 2025 113,4 93,5 Q2/2025Q1/2025Q2/2024 Q4/2024Q3/2024 90,1 98,0 100,1-3,7% +8,8% +2,2% +13,3% 312,5 198,7 Q2/2025Q1/2025Q2/2024 Q4/2024Q3/2024 232,2 234,9 285,3 +16,9% +1,2% +21,5% +9,5%
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Consecutive high margin realization – favorable Order book supports positive outlook 12 Gross Margin (in %)Key Comments ▪ YoY-improvement on Gross margin of 2.5% ▪ Mainly high-margin OHL products in Middle East and India lead to an increase of Gross margin ▪ Gross Margin of Q1 and Q2 burdened by transfer- cost of relocation ▪ Three consecutive quarters are 42% and above ▪ Margin in Order book overall favorable, i.e. we look positive towards coming quarters PFISTERER | Publication of half-year report | August 2025 42,3% 39,8% Q2/2025 (1)Q1/2025 (1)Q2/2024 Q4/2024Q3/2024 38,4% 42,0% 42,0% -1,4 pp +3,5 pp 0,0 pp +0,3 pp Note(s): (1) Consolidated Q1 2025 IFRS figures, unaudited; (2) Consolidated H1 2025 IFRS figures, unaudited
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Convincing adjusted EPS development underlines PFISTERER’s future potential 13 adj. Earnings per Share (in €) Key Comments ▪ The included adjustments relate to the costs of the VSOP program ▪ Q2 2025: adjustments for IPO specific consulting expenses and employee share program ▪ Increasing number of shares in Q2 due to the capital increase PFISTERER | Publication of half-year report | August 2025 0,47 0,36 0,87 0,87 0,88 Q2/2024 Q3/2024 Q4/2024 Q1/2025 (1) Q2/2025 -0,11 +0,51 0,00 +0,01
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Regional sales mix shifts towards Middle East – Europe share declines despite higher Revenues 14 Revenue Split by Region (1) Key Comments ▪ Despite an increase in sales of EUR +2,6 million compared to the H1/2024, the share of Europe and Africa decreased by -3,9%. ▪ Higher revenues in Middle East & India (EUR +15,5 million) increased the share by +5,9%. ▪ Stable revenues in Americas with higher sales in North America (EUR +4,5 million) overcompensating lower sales in South America (EUR - 3,3 million) ▪ Lower Sales in Asia Pacific PFISTERER | Publication of half-year report | August 2025 15,7% 58,1% 16,0% 10,3% Americas Europe & Africa Middle East & India Asia Pacific H1/2024 14,9% 54,2% 21,9% 9,0% Americas Europe & Africa Middle East & India Asia Pacific H1/202 5 Note(s): (1) Consolidated H1 2025 IFRS figures, unaudited
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HVA and MVA drive growth – OHL stable with upside potential from production ramp-up and Order book 15 Revenue Split by Segment (1) Key Comments ▪ Growth in HVA (EUR +13,3 million) due to stronger demand in transmission systems ▪ Rising MVA revenues (EUR +5,5 million) mainly with cable connectors business ▪ Stable COM and OHL revenues on prior-year level; OHL revenues consistant due to production transfer from Wunsiedel to Kadan, with revenue growth expected as production ramps up (Order book secured) PFISTERER | Publication of half-year report | August 2025 11,9% 25,2% 25,6% 37,2% MVA OHL COM HVA H1/2024 13,5% 22,8% 23,5% 40,2% MVA OHL COM HVA H1/202 5 Note(s): (1) Consolidated H1 2025 IFRS figures, unaudited
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PFISTERER Outlook 16
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▪ €30 million investment in a state-of-the-art testing facility for HVDC cable accessories at the Winterbach site ▪ Commissioning planned for 2027, with first HVDC series products available by the end of 2026 ▪ Central R&D and testing platform to strengthen PFISTERER’s position as a technology leader in modern power grids ▪ Collaboration with international cable manufacturers to qualify complete HVDC system solutions PFISTERER receives building permit for HVDC High-Voltage Lab – strategic milestone in Winterbach 17 Significant events after the reporting date PFISTERER | Publication of half-year report | August 2025
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▪ Securing long-term expansion options through land acquisition (48,000 m²) ▪ Leveraging site synergies with direct proximity to the existing plant ▪ Ensuring flexible capacity expansion through additional rented facilities ▪ Enhancing financial strength via €30m increase of the Aval line to support growth investments Strengthening the Kadaň site for future growth 18 Significant events after the reporting date PFISTERER | Publication of half-year report | August 2025
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Financial Calendar 19 PFISTERER | Publication of half-year report | August 2025 PFISTERER Holding SE – 2025/2026 August 22, 2025 Publication of half-year report 2025 September 10-11, 2025 Pareto Annual Energy Conference Oslo, Norway September 22, 2025 German Corporate Conference Munich, Germany November 19, 2025 Q3 Key figures and business performance November 24-26, 2025 Deutsches Eigenkapitalforum 2025 Frankfurt / Main, Germany December 2, 2025 Berenberg European Conference London, United Kingdom January 8, 2026 ODDO BHF Forum Lyon Lyon, France January 12-14, 2026 German Investment Seminar New York, USA End of March, 2026 Publication of annual report 2025 End of May, 2026 Q1 Key figures and business performance June 11, 2026 Annual General Meeting
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Questions & Answers 20
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Thank you for your attention. 21 W W W . P F I S T E R E R . C O M PFISTERER | Publication of half-year report | August 2025
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22 This presentation (including any printed or electronic copy of these slides, any oral presentation, the question and answer session and any written or oral material discussed or distributed at or in connection with the management presentation, the "Presentation") has been prepared by Pfisterer Holding SE (the "Company" and, together with its subsidiaries, the "Group") and is strictly confidential. By attending the meeting where this Presentation is made or accessing this Presentation, you agree to be bound by the following limitations. This material is provided in conjunction with an oral presentation and should not be taken out of context. It is being provided for informational purposes only and should not be relied on for any purpose. This Presentation does not purport to be a full or complete description of the Company or the Group or its direct or indirect shareholders. This Presentation does not, and is not intended to, constitute or form part of, and should not be construed as, an offer to sell, or a solicitation of an offer to purchase, subscribe for or otherwise acquire, any securities of the Company, nor shall it or any part of it form the basis of or be relied upon in connection with or act as any inducement or recommendation to enter into any contract or commitment or investment decision or other transaction whatsoever. This Presentation is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. Persons into whose possession this Presentation comes should inform themselves about, and observe, any such restrictions. 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This Presentation should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date thereof. None of the Company's advisors or their respective Representatives have independently verified any of this Presentation. The Company has not decided finally whether to proceed with a transaction. Such a decision would be taken only after assessing a number of criteria, including feedback and prevailing market conditions. No orders are being taken at this time. Orders could only be placed and accepted during a formal offering period and only after a prospectus or offering circular had been made available. 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Third-party industry publications generally state that the information they contain originates from sources assumed to be reliable, but that the accuracy and completeness of such information is not guaranteed and that the calculations contained therein are based on assumptions. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, none of the Company, nor any other member of the Group, the Company's advisors, or any of their respective Representatives has independently verified the data contained therein. In addition, certain of the industry, market and competitive position data contained in this Presentation comes from the Company's own internal research and estimates based on the knowledge and experience of the Company's management in the markets in which the Company and the other members of the Group operate. While the Company believes that such research and estimates are reasonable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change and correction without notice. Finally, market studies and analyses are inherently predictive and subject to uncertainty and not necessarily reflective of actual market conditions, are frequently based on information and assumptions that may not be accurate or technically correct, and their methodology may be forward-looking and speculative. Accordingly, reliance should not be placed on any of the industry, market or competitive position data contained in this Presentation. This Presentation includes certain measures, including, but not limited to EBITDA, EBITDA Margin, Net Debt, Leverage, Order book, Order Intake, that are not measures defined by International Financial Reporting Standards ("IFRS") or accounting principles generally accepted in the United States or Germany and are therefore considered to be "non-IFRS financial measures”. These non-IFRS financial measures have limitations as analytical tools, and should not be used instead of, or considered as alternatives to, a company's historical financial results based on IFRS. There are no generally accepted principles governing the calculation of these non-IFRS financial measures or similar non-IFRS financial measures used by other companies, and the criteria upon which these or similar measures are based can vary from company to company. These and similar non-IFRS financial measures, do not provide a sufficient basis to compare a company's performance with that of other companies and should not be considered in isolation or as a substitute for operating profit or any other measure as an indicator of operating performance as reported under IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures and ratios included herein. Certain financial information in this Presentation (including percentages) has been rounded according to established commercial standards. This Presentation and any materials distributed in connection with this Presentation are not directed to, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction. This Presentation does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in or into the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. 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In addition, in the United Kingdom, the information contained in this Presentation is being distributed only to, and is directed only at, Qualified Investors who are persons (i) having professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), (ii) falling within Article 49(2)(a) to (d) of the Order, or (iii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as "Relevant Persons"). This Presentation must not be acted on or relied on (i) in the United Kingdom, by persons who are not Relevant Persons, and (ii) in any Relevant State, by persons who are not Qualified Investors. Any investment or investment activity to which this Presentation relates is available only to or will be engaged in only with, (i) Relevant Persons in the United Kingdom, and (ii) Qualified Investors in any Relevant State. Access to this Presentation is being given in connection with a proposed meeting with the Company and no copy of this Presentation will be left behind after this meeting. By attending this presentation and/or accepting or reading a copy of this Presentation, you agree to be bound by the foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this notice including, without limitation, the obligation to keep this Presentation and its contents confidential. PFISTERER | Publication of half-year report | August 2025