Slides
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WE POWER FREEDOM . H1 2026 Analyst Presentation Dr. Alexander Sagel , CEO Anja Mänz - Siebje , CFO 6 August 2026 OOOO RENK
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Trusted Partner 1 H1 2026 OVERVIEW Key order intakes Q2 2026 KF 41 Lynx / transmissions + final drives ~ €207mRecord H1 order intake – continued strong international demand for land and sea platforms 4000th Leopard 2 transmission manufactured – RENK as sole source supplier for the Leopard 2 MBT platform in over 20 countries Eurosatory – Presentation of a next-generation heavy UGV concept with Patria as well as the new ESM 280 transmission Successful signing of David Brown Defence – building the global leader in naval power transmissions Highlights ~ €34m International customer / engines Various frigate programs ~ €30m VTA spare parts ~ €28m RENK Group AG | H1 2026 Conference Call THOR IV frame contract / transmissions ~ €121m H1 2026 summary – solid first half-year as the basis for a successful FY 2026
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Trusted Partner 2 RENK Group with strong order momentum and further margin improvement H1 2026 OVERVIEW 25% 75% Aftermarket New build / aftermarket (5) 63% 37% REVENUE BY NEW BUILD/ AFTERMARKET (LTM) Aftermarket (H1 25: 38%) New Build (H1 25: 62%) Order intake – highest quarterly order intake in company history, H1 2026 on similar level like 9M 2025; book-to-bill of 1.9x underpinning unchanged strong international demand Revenue – growth fully in line according to customer delivery schedules from fixed order backlog Adj. EBIT – strong growth of +10% YoY , once again clearly outpacing revenue growth Adj. EBIT margin – continued expansion of +100bps YoY to 15.4%, reflecting operating leverage and further efficiency improvements ORDER INTAKE H1 2026 REVENUE H1 2026 ADJ. EBIT H1 2026 ADJ. EBIT MARGIN H1 2026 RENK Group AG | H1 2026 Conference Call REVENUE BY END MARKETS (LTM)Defense (H1 25: 74%) Civil (H1 25: 26%) €1,195m +30% YoY €637m +3% YoY €98m +10% YoY +1.0pp YoY 15.4%
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Trusted Partner 3 PA = Procurement Authorization ▪ Increases in defense spending ▪ Burden sharing: NATO Europe takes over responsibility ▪ Focus on faster execution and delivery Moving forward ▪ Capability mix according to defined NATO requirements: ▪ Conventional mass incl. drones, UGV & ASV ▪ Air defense ▪ Long-range precision strike ▪ ISR/Space Capabilities Budgets and capabilities mix in line with RENK volume scenarios and mid-term targets to 2030 and beyond RENK on right track RENK CORE MARKETS: US DEFENSE BUDGET ▪ 2027 defense spending targeting $1.5tn PRELIMINARY GERMAN BUDGET (DRAFT) Armored land platforms: ▪ Procurement LTM >€18bn ▪ PA 2028 until end of 2030s >€44bn ▪ EP14: Defense budget totaling to €609bn from 2027- 2030 (+€144bn / +31% compared to 2026-2029 budget) ▪ Navy: PA 2028 until end 2030s increased to €43bn DEFENCE INVESTMENT PLAN (DIP) ▪ Backing British defense industry ▪ Hybrid land & navy ▪ Ship building & nuclear deterrent = key ▪ £298bn defense spending over next four years (+£15bn compared to last year‘s Spending Review) ▪ Confirmation of 5% target ▪ Focus on implementation & industrial scale-up NATO SUMMIT | ANKARA ▪ 3.5% + 1.5% target ▪ NATO capability requirements NATO SUMMIT | THE HAGUE ▪ Massive rearmament & capability mix RENK Group AG | H1 2026 Conference Call NATO on the move during H1-26 – reinforcing RENK’s midterm targets and beyond H1 2026 OVERVIEW
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Trusted Partner 4 H1 2026 OVERVIEW 694 1,029 H1 2025 H1 2026 Order Intake (Defense, €m) 462 488 ~533 H1 2025 H1 2026 H1 2026 Revenue (Defense, €m) +48% +6% Defense business is driving the Group performance RENK Group AG | H1 2026 Conference Call Missing Israel volumes compared to H1 2025 ~+15%
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Trusted Partner 5 H1 2026 OVERVIEW Revenue, €m Order intake H1 €m • Revenue growth in H1 of 8% in line with customer contracts and delivery schedules • Record H1 order intake of €970m (+43% YoY) - book-to- bill ratio at 2.3x driven by KF41 Lynx framework extension and THOR IV follow-on frame contract • New modular assembly line concept supporting ongoing strong margin improvements Vehicle Mobility Solutions RENK Group AG | H1 2026 Conference Call 970 H1 2024 H1 2025 H1 2026 295 389 419 7.6%
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Trusted Partner 6 H1 2026 OVERVIEW Revenue, €m • Q2 revenues significantly better than cautious start (Q1), however H1 6% below prior year • Navy clear revenue driver including partial recovery of customer-induced delays from Q1 • Industrial business still under cyclical market pressure Marine & Industry RENK Group AG | H1 2026 Conference Call Order intake H1 €m H1 2024 H1 2025 H1 2026 162 176 165 -6.1% 164
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Trusted Partner 7 H1 2026 OVERVIEW Revenue, €m • Ongoing headwinds from industrial end markets, leading to a stagnation of revenue development • Less favorable product mix in H1 Slide Bearings RENK Group AG | H1 2026 Conference Call Revenue, €m Order intake H1 €m H1 2024 H1 2025 H1 2026 61 63 60 -4.4% 64
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Trusted Partner 8 H1 2026 OVERVIEW Total Order Backlog is growing steadily driven by increasing demand for military mobility solutions from international customer base 2.8 Fixed Order Backlog(2) 1.0 Frame Order Backlog(3) 3.6 Soft Order Backlog(4) 7.4 Total Order Backlog 2.1x 0.7x 2.6x 5.3x Total Order Backlog (H1-26), €bn 24% 32% 18% 26% Platforms (examples) GER EMEA APAC Americas LTM revenue coverage(1) 2.3 (FY-25) 0.9 (FY-25) 3.6 (FY-25) Regional Split, % 6.7 (FY-25) RENK Group AG | H1 2026 Conference Call
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Financial Summary Anja Mänz-Siebje, CFO WE POWER FREEDOM.
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Trusted Partner 10 RENK Group: Record-high Q2 order intake underscores RENK’s market position FINANCIAL SUMMARY Revenue, €m Fixed order backlog(2), €mOrder intake, €m H1-25 H1-26 Q2-25 Q2-26 921 1,195 373 613 29.7% 64.5% H1-25 H1-26 Q2-25 Q2-26 620 637 348 354 2.7% 1.7% Dec-25 Jun-26 2,260 2,844 25.9% 1.5x 1.9x YoY growth Book-to-bill ratio(1) RENK Group AG | H1 2026 Conference Call 1.1x 1.7x
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Trusted Partner 11 Adj. EBIT(2), €m Net debt(3), €mAdj. gross profit(1), €m H1-25 H1-26 Q2-25 Q2-26 171 184 93 100 7.8% 8.1% H1-25 H1-26 Q2-25 Q2-26 89 98 51 56 10.1% 9.8% 1.5x 1.5x Dec-25 Jun-26 391 407 4.1% 27.6% 14.4% 15.4% YoY growth Adj. gross profit margin Adj. EBIT margin Net debt / LTM Adj. EBITDA (4) FINANCIAL SUMMARY 28.9% RENK Group AG | H1 2026 Conference Call RENK Group: Adj. EBIT margin expanded by 100 bps 26.7% 28.3% 14.6% 15.8%
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Trusted Partner 12 Order intake Adj. EBIT(1)Revenue Segment financials, €m H1-25 H1-26 Q2-25 Q2-26 681 970 284 492 42.6% 73.5% H1-25 H1-26 Q2-25 Q2-26 389 419 217 227 7.6% 4.8% H1-25 H1-26 Q2-25 Q2-26 67 80 38 45 20.5% 19.3% 20.2% FINANCIAL SUMMARY 17.1% 19.2% VMS: Continued growth driver with strong improvement in adj. EBIT margin RENK Group AG | H1 2026 Conference Call 17.5% 19.9% YoY growth Adj. EBIT margin
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Trusted Partner 13 Segment financials, €m H1-25 H1-26 Q2-25 Q2-26 BER300 - EBIT 19 16 11 12 -13.5% 4.7% 10.7% 9.9% H1-25 H1-26 Q2-25 Q2-26 183 164 60 94 -9.9% 56.7% H1-25 H1-26 Q2-25 Q2-26 176 165 103 100 -6.1% -2.6% YoY growth Adj. EBIT margin FINANCIAL SUMMARY Order intake Adj. EBIT(1)Revenue RENK Group AG | H1 2026 Conference Call 11.1% 11.9% M&I: Improved Q2 performance following a cautious start to the year
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Trusted Partner 14 Segment financials, €m H1-25 H1-26 66 64 Q2-25 Q2-26 30 30 -3.2% 0.0% H1-25 H1-26 63 60 Q2-25 Q2-26 32 30 -4.4% -7.5% H1-25 H1-26 10 8 Q2-25 Q2-26 5 3 -28.0% -32.2% YoY growth Adj. EBIT margin FINANCIAL SUMMARY Order intake Adj. EBIT(1)Revenue 16.6% 12.5% RENK Group AG | H1 2026 Conference Call Slide Bearings: Industrial headwinds remain challenging despite stable Q2 order intake 16.0% 11.7%
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Trusted Partner 15 Increase in adjustments reflects M&A activities, primarily related to the acquisition of DB Defence FINANCIAL SUMMARY For the period, €m 1 2 H1-25 Operating profit 59.3 Purchase price allocation effects 22.2 H1-26 58.0 21.9 Operating profit before PPA depreciation and amortization as well as income / losses from PPA asset disposals 81.5 79.9 Adjustments 7.8 Adj. EBIT 89.2 98.2 Depreciation, amortization and impairment losses (excluding purchase price allocation effects) 15.6 17.2 Adj. EBITDA 104.8 115.4 18.2 RENK Group AG | H1 2026 Conference Call
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Trusted Partner 16 Net working capital, €m 267.7 391.2 (117.0) (257.8) Dec-24 375.0 436.0 (143.9) (322.1) Dec-25 330.9 506.7 (146.7) (346.6) Jun-26 284.2 344.9 344.3 Customer receivables(1) Prepayments received(2) Inventories Trade payables Disciplined net working capital management delivers slight improvement FINANCIAL SUMMARY 24.9% 25.2% 24.9%% of LTM revenue RENK Group AG | H1 2026 Conference Call
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Trusted Partner 17 Strong bottom-line performance drives high Free Cash Flow FINANCIAL SUMMARY 115.4 Adj. EBITDA (1) (18.2) Adjustments(2) 6.1 Change in NWC(3) (17.1) CapEx(4) (20.5) Income Tax (11.6) Other (5) 54.1 Unlevered Free Cash Flow (12.2) Interest result 41.9 Free Cash Flow 54.1 41.9 +49.4 +2.0 (65.8) 6.1 Trade payables Inventories Customer receivables +20.4 Prepayments received Change in NWC(3), €m Key Free Cash Flow items H1-26, €m RENK Group AG | H1 2026 Conference Call CCR (%) 65.9 CCR LTM H1-26
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Trusted Partner 18 FINANCIAL SUMMARY RENK Group AG | H1 2026 Conference Call Stronger capital structure Fully unsecured financing replaces previous secured LBO structure Lower financing costs Improved financing terms reduce annual interest expense Higher financial flexibility Greater strategic freedom through a fully unsecured financing structure Optimal basis for M&A strategy Long-term financing provides headroom for value-enhancing acquisitions Supporting disciplined capital allocation Greater financial capacity to invest in organic growth and value-enhancing acquisitions BEFORE: SECURED LBO STRUCTURE AFTER: NEW UNSECURED STRUCTURE Term Loan B EUR 525m Revolving Credit Facility EUR 75m Multi-Currency Guarantee Facility EUR 450m Term Loan EUR 450m Revolving Credit Facility EUR 225m Guarantee Facilities EUR 375m Secured Facilities (LBO) Unsecured Facilities Refinanced in full In place since 27 July 2026 Interest Rate Hedges EUR 350m (2/3 of TLB) Maturity: 5 years with two 1-year extension options Interest Rate Hedges (EUR 225m / 50% of TLB) Successful refinancing supports profitable growth, M&A and long-term value creation
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Outlook Dr. Alexander Sagel, CEO WE POWER FREEDOM.
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Trusted Partner 20 2026 guidance confirmed – targeting upper half of adj. EBIT range OUTLOOK Main operational levers Strict delivery and revenue conversion based on customer contracts Full focus on production and capacity expansion in Augsburg and Rheine Roll out of RENK production system (VTA, RAM, Horstman Group) Stronger backend loaded H2 Guidance 2026 €255-285m Adj. EBIT >€1.5bn Revenue Further improvements of operational efficiencies RENK Group AG | H1 2026 Conference Call
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Trusted Partner 21 RENK is positioned for strong order intake growth in 2026 OUTLOOK Order Intake Development 2026 (in €m) H1-26a Q3-26e Q4-26e FY-26e Visibility 1,195 ~2,000 RENK Group AG | H1 2026 Conference Call ~300-400 Key OE order intake H2 2026 (examples) F-127, MEKO A200, var. international frigates & destroyers (Q3/Q4) Boxer Arminius (Q4) Thor IV (Q3) PzH 2000 (Q3) K2 MBT + family (Q3/Q4) Leopard 2 MBT + family, Int. MBT (Q3/Q4) IFV (AICS, AUT) (Q3+Q4)
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Trusted Partner 22 OUTLOOK RENK Group AG | H1 2026 Conference Call Operations: During Q2 consequent execution of our capacity ramp-up plan Germany for land transmissions – first Type 26 gears in Augsburg Installation fully automated CNC machining centers Roll out modular assembly concept to sub- assembly / spare parts First Type 26 gear for David Brown Defence New CNC machining centers (for land transmissions) Augsburg Augsburg Augsburg Rheine
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Trusted Partner 23 Acquisition of David Brown Defence: consequent execution of M&A strategy and global leadership in naval segment (large surface combatants and submarines) OUTLOOK Challenger 2 & 3 Boxer MIV Power transmission systems and gearboxes for tracked and wheeled armoured vehicles Type 26 New evolving naval programs Main propulsion and auxiliary gearboxes for surface combatants Propulsion and ancillary gearboxes for submarines ~75% >£700m Fixed contracts and high probability pipeline until 2030 ~£100m Revenue FY-26e1 ~£160m Mid-term revenue target 2030 ~25% David Brown Defence at a glance Post-Merger Integration: Customers & Markets USVPerformance ❑ Focus on Operations, synergies & deliveries Growth I ❑ Focus on new business from joint market access Phase 3 Phase 2 Phase 1 Signing Jul-26 Growth II ❑ Focus on new technologies & products, e.g.:Closing Q4-26 PMI Preparation RENK Group AG | H1 2026 Conference Call
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Trusted Partner 24 Key takeaways OUTLOOK RENK Group AG | H1 2026 Conference Call 1 Solid first half 2026 fully on track: record H1 order intake on unchanged strong international demand for conventional land and sea platforms; Total Order Backlog at a new all-time high of €7.4bn 3 VMS remains the clear growth engine — record H1 order intake and the modular production concept in Augsburg delivering tangible margin improvements; adj. EBIT again outpacing revenue 4 2026 guidance confirmed – revenue above €1.5bn and adj. EBIT of €255-285m, targeting the upper half; >90% of planned revenue covered by fixed backlog 2 Strong operating performance driving solid cash flow development 5 New unsecured financing expands financial flexibility to support organic and inorganic growth and significantly reduces annual financing costs
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Trusted Partner 25 Financial Calendar H2 2026 September • Berenberg Virtual US/CAN Roadshow, (6 Aug) Oktober NovemberAugust • Berenberg Investment Seminar, Stockholm (1 Sep) • Commerzbank/ODDO Corporate Conference, Frankfurt (2 Sep) • Morgan Stanley Industrial CEOs Unplugged, London (8 Sep) • Kepler Autumn Conference, Paris (9 Sep) • Danske Bank Defense Day, Stockholm (15 Sep) • ODDO Roadshow, Dublin (17 Sep) • Berenberg/Goldman Sachs 15th German Corporate Conference, Munich (23 Sep) • Baader Bank Investment Conference, Munich (24 Sep) • Jefferies US Roadshow (14-16 Oct) • Pre-Close Call Q3 2026 (21 Oct) • 9M 2026 Release (5 Nov) • UBS European Conference, London (10 Nov) • BNP 9th MidCap CEO Conference, Paris (17 Nov) • Citi Defense Conference, London (19 Nov) • Eigenkapitalforum, Frankfurt (24 Nov) • Berenberg European Conference, Windsor (30 Nov) OUTLOOK RENK Group AG | H1 2026 Conference Call
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RENK Group / Company presentation / March 2023 Q&A Session WE POWER FREEDOM.
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RENK Group / Company presentation / March 2023 Your contact WE POWER FREEDOM. Investor Relations: Julia Brand, Senior IR Manager Phone: +49 821 5700 735 E-Mail: investors@renk.com Maximilian König, Senior IR Manager Phone: +49 821 5700 9302 E-Mail: investors@renk.com Christian Weiß, Senior IR Manager Phone: +49 821 5700 9279 E-Mail: investors@renk.com Events Publications
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Trusted Partner 28 By accessing this presentation, you agree to be bound by the following limitations. This presentation has been prepared for information and background purposes only. It does not constitute or form part of, and should not be construed as, an offer of, a solicitation of an offer to buy, or an invitation to subscribe for, underwrite or otherwise acquire, any securities of RENK Group AG (the "Company", and together with its subsidiaries, the "Group"), nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of the Company or with any other contract, commitment or investment decision whatsoever. Certain financial data included in this presentation consists of non-IFRS financial measures. These non-IFRS financial measures may not be comparable to similarly titled measures presented by other companies, nor should they be construed as an alternative to other financial measures determined in accordance with IFRS. You are cautioned not to place undue reliance on any non-IFRS financial measures included herein. Past events or performances should not be taken as a guarantee or indication of future events or performance. Financial information presented in parentheses denotes the negative of such number presented. Any assumptions, views or opinions (including statements, projections, forecasts or other for-ward-looking statements) contained in this presentation represent the assumptions, views or opinions of the Company as of the date indicated and are subject to change without notice. All information not separately sourced is from Company data and estimates. To the extent available and unless denoted otherwise, the industry and market data contained in this presentation has been derived from Company estimates as well as official or third-party sources. Market and market share data has been derived from Company estimates as well as official or third-party sources. Market and market share data are based on company internal estimates derived from continuous analysis and aggregation of local management feedback on market share and ongoing market development. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein. In addition, certain of the industry and market data, if not labelled otherwise, contained in this presentation are derived from the Company's internal research and estimates based on the knowledge and experience of its management in the markets in which it operates. The Company believes that such research and estimates are reasonable and reliable, but their underlying methodology and assumptions have not been verified by any independent source for accuracy or completeness and are subject to change without notice. Accordingly, undue reliance should not be placed on any of the industry or market data contained in this presentation. Information contained in this presentation related to past performance is not an indication of future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto. Certain Information included in this Presentation is taken or derived from third-party market studies or reports. Market studies are usually based on certain assumptions and expectations that may not be accurate or appropriate, and their methodology is by nature predictive and speculative and therefore subject to uncertainties. The data reflected in market studies is typically based on other industry publications as well as market research, which itself is based on sampling and subjective judgments by both the researchers and the respondents, including judgments about what types of products and transactions should be included in the relevant market. Accordingly, market studies generally state that the information contained therein is believed to be accurate but that no representation or warranty is given by the market study provider as to the accuracy or completeness of such information and that the opinions and analyses provided in the relevant market study are not representations of fact. The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made by the Company nor its affiliates, advisers, connected persons or any other person as to the fairness, accuracy, completeness or correctness of the information contained herein, and no reliance should be placed on it. Neither the Company nor its affiliates, advisers, connected persons, and/or any third-party provider of industry and market data referred to in this Presentation (including Roland Berger) or any other person accepts any liability for any loss howsoever arising (in negligence or other-wise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. This shall not, however, restrict or exclude or limit any duty or liability to a personunder any applicable law or regulation of any jurisdiction which may not lawfully be disclaimed (including in relation to fraudulent misrepresentation). This presentation includes "forward-looking statements". These statements contain the words "anticipate", "believe", "intend", "estimate", "expect" or words of similar meaning. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including cost savings and productivity improvement plans) are forward-looking statements. By their nature,such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the market environment in which the Company will operate in the future. These forward-looking statements speak only as of the date of this presentation. Each of the Company, the relevant subsidiaries and their respective agents, employees and advisers, expressly disclaims any obligation or undertaking to update any forward-looking statements contained herein. You are urged to consider these factors carefully in evaluating the forward-looking statements in this presentation and not to place undue reliance on such statements. The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice. For further details, please refer to the footnotes section at the end of the presentation. Disclaimer
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APPENDIX WE POWER FREEDOM.
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Trusted Partner 30 Income statement Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition For the period, €m H1 2025 H1 2026 Revenue 620.2 637.2 Cost of sales (474.0) (479.0) Gross profit 146.1 158.2 Distribution expenses (34.2) (37.1) General and administrative expenses (50.5) (60.0) Net allowances on financial assets 0.2 (0.0) Other income 11.4 6.8 Other expenses (13.8) (9.8) Operating profit 59.3 58.0 Interest expense (17.4) (14.1) Other financial result (10.9) 3.8 Financial result (28.3) (10.3) Profit / loss before tax 31.0 47.7 Income taxes 0.2 (17.6) Profit / loss after tax 31.2 30.1 FINANCIAL APPENDIX RENK Group AG | H1 2026 Conference Call
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Trusted Partner 31 Balance sheet – Total assets Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition As of, €m Dec 31, 2025 Jun 30, 2026 Intangible assets 310.0 293.5 Property, plant and equipment 339.8 342.4 Other and financial investments 0.8 0.8 Deferred tax assets 29.2 30.6 Other non-current financial assets 0.4 0.0 Other non-current receivables 22.7 24.7 Non-current assets 703.0 692.0 Inventories 436.0 506.7 Trade receivables 214.8 197.4 Contract assets 165.9 158.4 Current income tax receivables 9.3 10.3 Other current financial assets 7.9 6.5 Other current receivables 18.6 26.1 Cash and cash equivalents 152.1 136.5 Currents assets 1,004.5 1,042.0 Total 1,707.5 1,733.9 FINANCIAL APPENDIX RENK Group AG | H1 2026 Conference Call
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Trusted Partner 32 Balance sheet – Total equity and liabilities Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition As of, €m Dec 31, 2025 Jun 30, 2026 Share capital (subscribed capital in previous year) 100.0 100.0 Capital reserves 174.5 175.6 Retained earnings 193.3 165.1 Cumulative other comprehensive income 17.0 27.5 Equity attributable to shareholders of RENK Group AG 484.7 468.2 Equity attributable to non-controlling interests 5.3 5.7 thereof share of non-controlling interests in consolidated net income 0.9 0.3 Equity 490.0 473.9 Non-current financial liabilities 528.3 527.3 Pension provisions 2.9 2.9 Deferred tax liabilities 57.2 60.4 Contract liabilities, non-current 105.5 147.2 Other non-current provisions 12.3 12.8 Other non-current financial liabilities 3.4 0.1 Other non-current liabilities 0.1 0.0 Non-current liabilities and provisions 709.7 750.7 Current financial liabilities 7.0 6.1 Income tax liabilities 40.4 40.3 Trade payables 143.9 146.7 Contract liabilities, current 220.0 216.7 Other current provisions 43.5 41.7 Other current financial liabilities 2.7 3.7 Other current liabilities 50.3 54.0 Current liabilities and provisions 507.8 509.3 Total 1,707.5 1,733.9 FINANCIAL APPENDIX RENK Group AG | H1 2026 Conference Call
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Trusted Partner 33 Cash flow statement Note: Due to commercial rounding of amounts on the basis of € million, minor deviations may occur on addition For the period, €m H1 2025 H1 2026 Cash and cash equivalents at beginning of period 164.3 152.1 Profit / loss before tax (including profit/loss attributable to non-controlling interests) 31.0 47.7 Income taxes paid (11.0) (20.5) Depreciation, amortization and impairment losses on intangible assets and property, plant and equipment 38.4 39.2 Change in pension provisions 4.0 0.4 Gains/losses on disposal of assets – 0.1 Other non-cash expenses and income (0.4) (1.6) Change in inventories (47.6) (65.8) Change in other assets (61.8) 22.8 Change in (contract) liabilities 49.8 40.0 Change in other provisions 5.0 (1.4) Financial result 28.3 10.3 Cash flows from operating activities 35.7 71.2 Capital expenditure on property, plant and equipment and intangible assets (10.7) (17.1) Proceeds from disposals of property, plant and equipment and intangible assets 0.4 0.7 Payments for the acquisition of subsidiaries or other business units less acquired cash and cash equivalents (29.7) 1.0 Cash flows from restricted cash (2.2) 0.4 Interest received 0.9 1.2 Cash flow from investing activities (41.5) (13.8) Payment of dividends to shareholders of RENK Group AG (42.0) (58.0) Payment of dividends to non-controlling companies (0.7) – Lease payments (1.5) (1.9) Repayment of IC loans (14.4) (13.4) Cash flows from financing activities (58.6) (73.3) Effect of exchange rate changes on cash and cash equivalents (5.0) 0.4 Change in cash and cash equivalents (69.3) (15.5) Cash and cash equivalents at end of period 95.0 136.5 Restricted cash 3.4 3.0 Gross liquidity at end of period 98.5 139.6 Financial liabilities (net of cash-pool liabilities) (533.4) (533.3) Net liquidity at end of period (434.9) (393.8) FINANCIAL APPENDIX RENK Group AG | H1 2026 Conference Call
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Trusted Partner 34 Adjustments For the period, €m H1-25 Operating profit 59.3 Purchase price allocation effects 22.2 H1-26 58.0 21.9 Operating profit before PPA depreciation and amortization as well as income / losses from PPA asset disposals 81.5 79.9 M&A activity related costs 1.3 Implementation of Process Standards 0.0 4.2 Global system improvements 2.4 1.4 10.0 Severance provision 0.5 1.0 Other adjustments 3.6 1.6 Adj. EBIT 89.2 98.2 Depreciation, amortization and impairment losses (excluding purchase price allocation effects) 15.6 17.2 RENK Group AG | H1 2026 Conference Call Adj. EBITDA 104.8 115.4 FINANCIAL APPENDIX
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Trusted Partner 35 Endnotes p.8 (1) Defined as total order backlog as of June-26 / LTM revenue for the period ended June 30, 2026. Total order backlog comprised of fixed order backlog, frame order backlog and soft order backlog (2) Fixed order backlog represents with respect to binding customer contracts and purchase orders concluded and/or received the portion of the associated transaction price for which the amount of revenue has not yet been recognized in accordance with IFRS (3) Frame order backlog includes signed frame contracts with fixed annual volumes or volume estimates based on customer information or historical call offs over the entire contract duration, booked for the period of the frame contract term. The numbers as of June 30, 2026 include a contract with the character of a binding follow-up contract with the amount of €0.4bn (4) Soft order backlog includes estimated volumes of sole source projects and successor business until 2030 based on public information and customer information for the period July 2026 to June 2030 p.10 (1) Book-to-bill ratio defined as order intake / revenue (2) Fixed order backlog represents with respect to binding customer contracts and purchase orders concluded and/or received the portion of the associated transaction price for which the amount of revenue has not yet been recognized in accordance with IFRS p.11 (1) Adjusted gross profit is defined as gross profit before PPA depreciation and certain items which management considers to be exceptional or non-recurring in nature. Adj. Gross Profit margin is defined as adjusted gross profit divided by revenue. (2) Adj. EBIT is defined as operating profit before the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. Adj. EBIT margin is defined as adj. EBIT divided by revenue. For a detailed breakdown of adjustments, please refer to the page “Adjustments” in the appendix. (3) Net debt is defined as the sum of non-current financial liabilities and lease liabilities less cash and cash equivalents (4) LTM Adj. EBITDA is defined as operating profit before depreciation, amortization and impairment losses on intangible assets and property, plant and equipment, the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. For a detailed breakdown of adjustments, please refer to the page “Adjustments” in the appendix. p.12-14 (1) Adj. EBIT is defined as operating profit before the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature. Adj. EBIT margin is defined as adj. EBIT divided by revenue. p.16 (1) Comprises contract assets and trade receivables excluding customer prepayment receivables (2) Comprises contract liabilities excluding liabilities from customer prepayment receivables p.17 (1) Adj. EBITDA is defined as operating profit before depreciation, amortization and impairment losses on intangible assets and property, plant and equipment, the PPA depreciation and amortization as well as income / losses from PPA asset disposals and adjusted for certain items which management considers to be exceptional or non-recurring in nature (2) For a detailed breakdown of adjustments, please refer to the page “Adjustments” in the appendix. (3) Includes change in inventories, customer receivables, trade payables and prepayments received. (4) Capex defined as payments to acquire property, plant and equipment and intangible assets. (5) Other reconciliation items include changes in provisions, other receivables and liabilities, unless as these are not attributable to the NWC, as well as other cash and non-cash expenses and income of minor importance. RENK Group AG | H1 2026 Conference Call