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Investor Conference Call 9M 2026 Results Michael Grosse, Florian Funck, René Fáber Sartorius | Sartorius Stedim Biotech | October 22, 2026 Variante 02: Bild
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2 Agenda Sartorius Group 9M 2026 results | FY 2026 outlook Sartorius Stedim Biotech Group 9M 2026 results | FY 2026 outlook Questions & Answers
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Sartorius Group Continued profitable growth in 9M 2026 Sales revenue €2,737.2m +8.1% operational growth1 Underlying EBITDA €827.8m 30.2% margin, +0.5pp Free cash flow €310.0m +55% vs. 9M 2025 Key messages 1 Operational sales growth before customer compensation for tariff surcharges, in constant currencies. Figures: 9M 2026 vs. 9 M 2025 unless stated otherwise. Bioprocess Solutions (BPS) Healthy recurring business and recovery in non-recurring sales Lab Products & Services (LPS) Strength across the portfolio, led by Bioanalytics and AI-driven drug discovery Healthy end markets Solid activity across customers' research pipelines, growing clinical trial activity, new drug approvals, and increasing commercial manufacturing volumes Further progress in key KPIs Robust margin expansion, strong cash flow generation, and continued progress on deleveraging FY 2026 guidance confirmed and refinded Confirmed outlook for Group and BPS Refined outlook for LPS and capex ratio 3
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4 Sartorius Group 1 Operational sales growth before customer compensation for tariff surcharges, in constant currencies Bioprocess Solutions Sales revenue | € in millions 2,115 2,213 9M 2025 9M 2026 Strong operational performance across both divisions Sartorius Group Sales revenue | € in millions Lab Products & Services Sales revenue | € in millions 2,611 2,737 9M 2025 9M 2026 +8.1%1 | +6.9% cc | +4.9% +8.1%1 | +6.8% cc | +4.6% 495 524 9M 2025 9M 2026 +8.3%1 | +7.5% cc | +5.9% Operational development: both divisions with HSD-% growth in recurring business; equipment continues its positive growth trend Customer compensation for tariff surcharges of €31m (of which €5m in Q3) being a non-operational impact on overall sales growth LPS with robust growth, supported by Bioanalytics, recovering biotech funding and research activity and some pull-forward in Q3
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5 Sartorius Group All regions with positive momentum EMEA: Robust growth, led by BPS and solid LPS performance Americas: Strong growth in light of tariff compensation and Q2 project delays in advanced modalities APAC: Strong performance in both divisions; China recovery continues EMEA Sales revenue | € in millions 1,084 1,155 9M 2025 9M 2026 6.4% cc | +6.6% 925 938 9M 2025 9M 2026 Americas Sales revenue | € in millions +8.4%1 | +4.9% cc | 1.4% Asia | Pacific Sales revenue | € in millions 602 644 9M 2025 9M 2026 +11.0% cc | +7.1% 1 Operational sales growth before customer compensation for tariff surcharges, in constant currencies
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6 Sartorius Group Solid earnings growth and margin expansion Volume growth and scale effects more than offset unfavorable product mix in BPS Tariff-related effects broadly offset each other LPS margin remains resilient, despite continued investment in growth initiative 774 828 9M 2025 9M 2026 Sartorius Group Ul. EBITDA & margin | € in millions 29.7% 30.2% Bioprocess Solutions Ul. EBITDA & margin | € in millions 667 714 9M 2025 9M 2026 31.5% 32.3% Lab Products & Services Ul. EBITDA & margin | € in millions 108 114 9M 2025 9M 2026 +6.9% +7.1% +5.6% 21.7% 21.7%
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1 Underlying net profit = net profit adjusted for extraordinary items, amortization and based on a normalized financial result and a normalized tax rate 2 After non-controlling interest Higher earnings and lower capex lift free cash flow Sartorius Group Underlying net profit and underlying EPS increases with improved operating profit Operating cash flow benefits from higher earnings and US tariff refunds, more than offsetting growth- related working capital increase Higher operating cash flow and lower capex drive strong free cash flow growth 7 Sartorius Group € in millions 9M 2025 9M 2026 ∆ in % Underlying net profit1,2 244 260 +6.7 Underlying EPS (ord.) 3.52 3.76 +6.7 Underlying EPS (pref.) 3.53 3.77 +6.6 Reported net profit2 125 188 +51.0 Operating cash flow 511 562 +9.9 Free cash flow 200 310 +55.2 Capex ratio (in %) 11.7 9.6 -2.1pp
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Deleveraging on track; investment-grade rating commitment unchanged Sartorius Group 8 Net debt in millions of € (lhs) Net debt to underlying EBITDA (rhs) Net debt and net debt to underlying EBITDAKey financial indicators Sartorius Group € in millions unless otherwise specified Dec. 31, 2025 Sep. 30, 2026 Equity ratio in % 39.8 42.8 Net debt 3,741 3,680 Net debt | underlying EBITDA1 3.55 3.33 0.0 1.0 2.0 3.0 4.0 5.0 6.0 0 1,000 2,000 3,000 4,000 5,000 1 Includes underlying pro forma EBITDA of acquisitions completed during the last 12 months Q1 -Q4 2023 Q1 -Q4 2024 Q1 -Q4 2025 Q1 –Q3 2026
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9 New accounting standard IFRS 18 from 2027 Sartorius Group Today Starting fiscal year 2027 Underlying EBITDA = EBIT + D&A + adjustments EBIT as the starting point of our profitability measure New EBITDA bridge Underlying EBITDA = operating profit (OP) + D&A + adjustments Management-defined measure To be disclosed and reconciled to the nearest IFRS subtotal Recognition unchanged Net result and net cash flow are not affected by the new format Effective fiscal year 2027 IFRS 18 to be adopted from FY 2027; financial reporting will follow new format thereafter Consistent reporting of operational profit KPI Ul EBITDA remains our key profitability measure, only the starting point changes What it means for us
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Sartorius Group FY 2026 guidance confirmed and partially refined FY 2026 guidance Sartorius Group Bioprocess Solutions Lab Products & Services Sales revenue growth1 thereof MATTEK acquisition ~5% to ~9% ~0.3pp ~6% to ~10% - ~2% to ~6% ~1.5pp slightly > 30% slightly > 32% slightly > 21% (prev.: slightly < 21%) Where we expect to land within the range Operational performance2 around the midpoint around the midpoint around upper end (prev.: upper half) incl. customer compensation refund application of €40m lower half of the range lower half of the range around upper end (prev.: around the midpoint) Due to the continued high dynamics and volatility across the life science industry, the forecast remains subject to greater u ncertainty, which is reflected in the current guidance range. Potential further changes in U.S. tariffs are not included. 1 In constant currencies 2 Operational sales growth before customer compensation for tariff surcharges, in constant currenci es Underlying EBITDA margin Other KPIs Capex ratio ~12% (prev.: ~12.5%) Net debt / underlying EBITDA slightly >3x 10
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New structure strengthens One Sartorius from 2027 Sartorius Group 13 CMD recap: Our strategic key initiatives Portfolio & Product Innovation Customer Centricity Operational Excellence New Operating Model New management responsibilities (as of January 1, 2027): Florian Funck, CFO Group Finance, Corporate Sourcing, Compliance, Internal Audit, Corporate Development, Corporate Sustainability Alexandra Gatzemeyer, CCO1 Account Management, Marketing, Customer & Technical Services 1 CPO = Chief Product Officer; CCO = Chief Commercial Officer Michael Grosse, CEO Group Strategy & Operations, HR, Legal Affairs, Transformation, IT & Processes, Corporate Communications & Investor Relations René Fáber, CPO1 Research & Development, Product Management, Technical Sales, Manufacturing
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Sartorius Lab Solutions 12 New segments align with Sartorius corporate structure Status quo Bioprocess Solutions ~€2,865 mn1 Lab Products & Services ~€673 mn1 New segment reporting as of 2027 Bioprocessing Solutions Research Solutions Reconciliation / consolidation Mainly intercompany elimination ~ -€119m2 Note: separate SSB reporting unaffected Reasons for changing the segments Sartorius Lab Solutions Sartorius Group ex SSB business focusing on research solutions ~€690m2 Sartorius Lab Solutions Listed Sartorius Stedim Biotech subgroup with focus on bioprocessing solutions ~€2.967m1 1 FY 2025 sales revenue. 2 Indicative future structure; indicative values subject to sign -off, reclassifications still to be quantified. Sartorius Group Changed operating model Internal steering follows customer-centric steering and clear responsibilities Clearer read-across Segment maps directly to the listed SSB sub-group and reduces complexity Group unchanged Reallocation only; Group revenue and EBITDA unaffected Implication
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13 Agenda Sartorius Group 9M 2026 results | FY 2026 outlook Sartorius Stedim Biotech Group 9M 2026 results | FY 2026 outlook Questions & Answers
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14 Sartorius Stedim Biotech Group Strong operational growth and robust profitability Operational development: HSD-% growth in recurring business; equipment continues its positive growth trend Customer compensation for tariff surcharges of €28m (of which €4.5m in Q3) being a non-operational impact on overall growth Volume growth and scale effects more than offset unfavorable product mix While tariff-related effects balanced each other out, the higher brand name fee weighed on profitability Sales revenue € in millions 2,195 2,289 9M 2025 9M 2026 7.8%1 | +6.5% cc | +4.3% 683 716 9M 2025 9M 2026 Ul. EBITDA & margin € in millions 31.1% 31.3% +4.8% 1 Operational sales growth before customer compensation for tariff surcharges, in constant currencies
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15 Sartorius Stedim Biotech Group All regions with positive momentum EMEA: Robust growth Americas: Good growth in light of tariff compensation and Q2 project delays in advanced modalities APAC: Strong performance; China recovery continues EMEA Sales revenue | € in millions 921 982 9M 2025 9M 2026 +6.5% cc | +6.6% 782 783 9M 2025 9M 2026 Americas Sales revenue | € in millions +7.6%1 | +3.9% cc | 0.1% Asia | Pacific Sales revenue | € in millions 492 524 9M 2025 9M 2026 +10.6% cc | +6.5% 1 Operational sales growth before customer compensation for tariff surcharges, in constant currencies
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16 Higher earnings and lower capex lift free cash flow Sartorius Stedim Biotech Group Sartorius Stedim Biotech € in millions 9M 2025 9M 2026 in % Underlying net profit1,2 320 350 +9.4 Underlying EPS 3.28 3.59 +9.4 Reported net profit2 218 277 +26.7 Operating cash flow 446 498 +11.6 Free cash flow 167 264 +58.5 Capex ratio (in %) 12.6 10.1 -2.5pp Underlying net profit and underlying EPS increases with improved operating profit Operating cash flow benefits from higher earnings and US tariff refunds, more than offsetting growth- related working capital increase Higher operating cash flow and lower capex drive strong free cash flow growth 1 Underlying net profit = net profit adjusted for extraordinary items, amortization and based on a normalized financial result and a normalized tax rate 2 After non-controlling interest
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17 Lower leverage and higher equity ratio Net debt in millions of € (lhs) Net debt to underlying EBITDA (rhs) Sartorius Stedim Biotech Group Sartorius Stedim Biotech € in millions unless otherwise specified Dec. 31, 2025 Sep. 30, 2026 Equity ratio in % 51.7 54.6 Net debt 2,173 2,138 Net debt | underlying EBITDA 2.38 2.26 0.0 1.0 2.0 3.0 4.0 5.0 6.0 0 1,000 2,000 3,000 4,000 Q1 -Q4 2023 Q1 -Q4 2024 Q1 -Q4 2025 Key financial indicators Net debt and net debt to underlying EBITDA Q1 -Q3 2026
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Sartorius Stedim Biotech Group FY 2026 guidance confirmed and partially refined FY 2026 guidance Sartorius Stedim Biotech Group Sales revenue growth1 ~6% to ~10% slightly > 31% Where we expect to land within the range Operational performance2 around the midpoint incl. customer compensation refund application of €35m lower half of the range Due to the continued high dynamics and volatility across the life science industry, the forecast remains subject to greater u ncertainty, which is reflected in the current guidance range. Potential further changes in U.S. tariffs are not included. 1 In constant currencies 2 Operational sales growth before customer compensation for tariff surcharges, in constant currenci es Underlying EBITDA margin Other KPIs Capex ratio ~13% (prev.: ~13.3%) Net debt / underlying EBITDA slightly >2x 18
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19 Questions & Answers
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Updated additional financial information for full-year 2026 Depreciation €270m to €280m Normalized financial result €165m to €175m FX effect on reported vs. cc growth around -1.1pp (vs. around -2pp before) Number of shares outstanding 69.1 million (34.2m ordinary + 34.8m preference) Financial information for modeling Sartorius Group Sartorius Group 20
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Updated additional financial information for full-year 2026 Depreciation €205m to €215m Normalized financial result €105m to €115m FX effect on reported vs. cc growth around -1.2pp (prev.: around -2pp) Number of shares outstanding 97.3 million Financial information for modeling Sartorius Stedim Biotech Group Sartorius Stedim Biotech Group 21
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22 Sven Köpsel Head of Corporate Communications & IR +49.551.308.9429 sven.koepsel@sartorius.com Petra Müller Head of Investor Relations +49.551.308.6035 petra.mueller2@sartorius.com Mirko Koch Manager Investor Relations +49.551.308.2402 mirko.koch@sartorius.com Sartorius Corporate Administration GmbH Otto-Brenner-Straße 20 37079 Göttingen, Germany Contacts and financial calendar Sartorius Group November 17, 2026 Jefferies Global Healthcare Conference, London November 24, 2026 German Equity Forum, Frankfurt December 2, 2026 Wolfe Research Virtual Small-& Mid-Cap Conference, Virtual December 8, 2026 CIC Forum, Paris February 23, 2027 Annual Report & FY 2026 Results April 13, 2027 Annual Shareholders’ Meeting Sartorius Stedim Biotech S.A., Aubagne April 15, 2027 Annual General Meeting Sartorius AG, Virtual April 22, 2027 Q1 2027 Results July 22, 2027 H1 2027 Results October 21, 2027 9M 2027 Results
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This presentation contains statements concerning the future performance of the Sartorius and the Sartorius Stedim Biotech Groups. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actually materialize. This is because our assumptions harbor risks and uncertainties that could lead to actual results substantially diverging from the expected ones. It is not planned to update our forward-looking statements. Throughout this presentation, differences may be apparent as a result of rounding during addition. 23 Disclaimer
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Simplifying Progress