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2026 INTERIM RESULTS ( to 30 June 2026 ) momentum EXPANDING BEYOND THE CORE ZOTEFOAMS 05 AUG 2026 Ronan Cox , Group CEO Nick Wright , Group CFO 2026 Interim Results I Zotefoams plc
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DISCLAIMER No representation or warranty, expressed or implied, is made or given by or on behalf of Zotefoams plc (“Zotefoams”, the “Company” or the “Group”) or any of its Directors or any other person as to the accuracy, completeness or fairness of the information contained in this presentation and no responsibility or liability is accepted for any such information. This presentation does not constitute an offer of securities by the Company and no investment decision or transaction in the securities of the Company should be made on the basis of the information contained in this presentation. The presentation contains certain information (for example, financial information and internal trading data) which the Company’s management believes may assist in understanding the performance of Zotefoams. However, not all of the information in the presentation has been audited. Further, this presentation may include or imply statements or information that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may use forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”, “will“ or “should”. By their nature, forward looking statements involve risks and uncertainties and recipients are cautioned that any such forward-looking statements are not guarantees of future performance. The Company’s and the Group’s actual results and performance may differ materially from the impression created by the forward-looking statements or any other information in this presentation. The Company undertakes no obligation to update or revise any information contained in this presentation, except as may be required by applicable law and regulation. Nothing in this presentation is intended to be, or intended to be construed as, a profit forecast or a guide as to the performance, financial or otherwise, of the Company or the Group whether in the current or any future financial year. This presentation and its contents are confidential and should not be distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person. 2 2026 Interim Results | Zotefoams plc
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Ronan Cox Group CEO Business Performance 3 2026 Interim Results | Zotefoams plc
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DIVERSIFICATION AND DISCIPLINED EXECUTION Sales Performance Group Revenue − Up 23% to £95.2m (HY 2025: £77.4m) − Organic growth 4% (6% at CC) EMEA − Up 20% to £73.6m (HY 2025: £61.4m) − Including £14.8m contribution from OKC North America − Up 29% to £18.7m (HY 2025: £14.5m) Earnings Adjusted Operating Profit − Up 34% to £16.3m (HY 2025: £12.2m) − Adjusted Operating Margin up 130 bps to 17.1% (HY 2025: 15.8%) Adjusted EPS − Up 28.6% to 25.7p (HY 2025: 19.99p) Results Headlines 4 Cash & Funding £ £ Balance sheet − Strong balance sheet Leverage − 0.98x (HY 2025: 0.68x) Funding − New £90m Multicurrency Revolving Credit Facility 2026 Interim Results | Zotefoams plc
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STRATEGY REMINDER In 2026, Zotefoams is building on momentum of last year as our Expanding Beyond the Core strategy scales from execution to impact. 5 INDUSTRY & CUSTOMER FOCUS From product to industry CLOSER TO THE CUSTOMER Expanding capabilities INNOVATION & SUSTAINABILITY LEADERSHIP Sustainable innovation M&A BEYOND THE CORE Moving up the value chain HIGH PERFORMING TEAMS Executing the strategy PRIORITY ONE Health & Safety 2026 Interim Results | Zotefoams plc
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REGIONAL PERFORMANCE EMEA Record revenue with non-footwear growth more than offsetting anticipated footwear normalisation – Continued momentum in Transport & Smart Tech. including growing aerospace and space business, a key driver of underlying growth – Footwear normalised as expected, after exceptional 2025 demand; revenue was £28.5m, down 23%. Long-term opportunity remains significant with shift to Vietnam – First full-half OKC contribution of £14.8m; integration ahead of plan and earnings accretive, with early cross-selling wins – Segment margin improvement reflects cost discipline, partly offset by mix, wage inflation and higher input costs – Global Innovation Hub at Croydon, UK progressing at pace - strengthening R&D capability to support Group growth 6 REVENUE & MARGIN £m HY 2026 HY 2025 Change Revenue 73.6 61.4 +19.9% Segment profit 16.8 13.8 +21.7% Segment margin 22.8% 22.5% 30bps Key Messages 2026 Interim Results | Zotefoams plc
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REGIONAL PERFORMANCE NORTH AMERICA Resilient growth led by strong momentum in Transport & Smart Technologies – Broad-based first-half growth across both Transport & Smart Tech. and Construction & Other Industrial – New business and key account wins, with record output months at both Walton, KY and Tulsa, OK facilities – Reshaped commercial organisation driving stronger market engagement, improved commercial focus and a growing pipeline of opportunities – Strong margin improvement, driven by higher volumes, favourable mix and strong operational gearing – Second low-pressure vessel, commissioned last year, now fully operational – adding capacity to support future growth 7 REVENUE & MARGIN £m HY 2026 HY 2025 Change Revenue 18.7 14.5 +29.0% Segment profit 3.3 1.2 +175.0% Segment margin 17.6% 8.3% +930bps Key Messages 2026 Interim Results | Zotefoams plc
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REGIONAL PERFORMANCE ASIA Strategic investments building platform for future growth in Asia – Strategically important to the Group’s long-term growth, despite currently modest revenue contribution – Construction & Other Industrial demand — principally T-FIT — driving revenue in China and India – Vietnam footwear manufacturing facility on track for first- stage trials from October 2026 — with autoclaves now on site – South Korea Footwear Innovation Centre now operational and already hosting customers, deepening collaboration with key footwear partners 8 REVENUE & MARGIN £m HY 2026 HY 2025 Change Revenue 2.9 1.4 +107.1% Segment profit 0.5 0.0 - Segment margin 17.2% 0.0% +1720bps Key Messages 2026 Interim Results | Zotefoams plc
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VERTICAL PERFORMANCE A more balanced revenue profile, with growth in targeted non-footwear markets offsetting footwear normalisation – Transport & Smart Technologies increased strongly, becoming the largest vertical in the period, supported by momentum in aerospace and space – Construction & Other Ind. supported by growth in North America and strong Asia demand, principally T-FIT and related sales into India and China – Consumer & Lifestyle reflected expected normalisation in footwear after exceptional demand in 2025, whilst maintaining long-term opportunity as Vietnam is commissioned and optimised REVENUE BY VERTICAL £m HY 2026 HY 2025 Change Transport & Smart Tech. 46.1 26.2 +76.0% Consumer & Lifestyle 31.2 38.5 -19.0% Construction & Other Ind. 17.9 12.7 +40.9% Key Messages 9 50% 34% 16% 33% 48% 19%HY26 HY25 REVENUE SHARE BY VERTICAL 2026 Interim Results | Zotefoams plc
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Key Financials 10 Nick Wright Group CFO 2026 Interim Results | Zotefoams plc Group Revenue £95.2m Up 23.0% 2025: £77.4m
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H1 FY26 KEY FINANCIALS 11 1 Adjusted for Amortisation of intangibles (£0.9m) and Exceptional items (£0.4m) ; NIL for HY25 Adjusted EPS1 25.70p Up 29% 2025: 19.99p Group Revenue £95.2m Up 23.0% 2025: £77.4m Adjusted Operating Margin1 17.1% Up 130bps 2025: 15.8% Adjusted Operating Profit1 £16.3m Up 33.6% 2025: £12.2m Adjusted PBT 1 £15.3m Up 34.2% 2025: £11.4m Adjusting Items £1.3m N/A 2025: £0.0m PBT £14.0m Up 22.8% 2025: £11.4m EPS 23.60p Up 18% 2025: 19.99p 2026 Interim Results | Zotefoams plc INTERIM DIVIDEND 2.63p Up 5% 2025: 2.50p
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H1 FY26 DETAILED OPERATING PERFORMANCE 12 OPERATING PERFORMANCE £m HY26 HY25 Change Group revenue 95.2 77.4 23% Gross profit 33.9 26.8 26% Gross margin 35.6% 34.6% 100bps SGA (17.6) (14.5) (21%) Adjusted Operating profit 16.3 12.2 34% Adjusted Operating profit margin 17.1% 15.8% 130bps EARNINGS & DIVIDEND p HY26 HY25 Change Adjusted EPS 25.70 19.99 29% Interim dividend 2.63 2.50 5% INTEREST & TAX £m HY26 HY25 Change Net finance charges (1.1) (0.8) (38%) Share of JV profit 0.1 0.0 510% Adjusted PBT 15.3 11.4 34% Adjusted tax (2.4) (1.6) (50%) Adjusted PAT 12.6 9.8 29% BUSINESS UNIT PERFORMANCE £m HY26 HY25 Change Operating profit – EMEA 16.8 13.8 22% Operating profit – NA 3.3 1.2 175% Operating profit – Asia 0.5 0.0 - Operating profit – Group 16.3 12.2 34% ADJUSTING ITEMS £m HY26 HY25 Amortisation of acquired intangibles (0.9) - Total exceptional items (0.4) - Total adjusting items (1.3) - All figures excluding adjusting items unless otherwise stated 2026 Interim Results | Zotefoams plc
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Working Capital (Increase)/Decrease (£14.0m) £14.4m swing 2025: £0.4m H1 FY26 CASH GENERATION & NET DEBT 13 1 Net debt excludes the impact of IFRS 16 Net Debt1 £39.1m Up 24% As at 31.12.25 : £31.5m Capital Expenditure £7.2m Down 15% 2025: £8.5m Cash Generated from Operations £8.2m Down 48% 2025: £15.8m ROCE 15.8% Down 130 bps 2025: 17.1% Leverage 0.98x Up 44% As at 30.06.25: 0.68x 2026 Interim Results | Zotefoams plc
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31.5 39.17.2 3.0 0.7 1.4 2.6 0.9 (8.2) Net debt 1.1.26 Capital expenditure Acquisition of new business Net interest paid Tax paid Dividend paid Others Cash from operations Net debt 30.6.26 H1 FY26 MOVEMENT IN NET DEBT 14 £m 2026 Interim Results | Zotefoams plc
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CAPITAL ALLOCATION STRATEGY 15 Investing in long-term sustainable growth and shareholder value Capital Allocation Priorities 1. Organic investment in footprint, technology & innovation Combined with capital efficiency to drive towards 20% ROCE 2. Progressive dividend policy Targeting sustainable growth in DPS 3. Disciplined M&A That expands capability or brings us closer to the customer 4. Additional returns Focus on shareholder value Strong Balance Sheet − Improving profitability and cashflow has allowed us to deploy capital whilst reducing leverage − Targeting continued improvements in margins and cashflow in medium-term whilst maintaining leverage below 2x
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Strategic Progress Nick Wright Group CFO 16 Ronan Cox Group CEO 2026 Interim Results | Zotefoams plc
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STRATEGIC PROGRESS DIVERSIFICATION AND REVENUE GROWTH Diversifying revenue streams and strengthening market access – Transport & Smart Tech. + OKC driving revenue growth, more than offsetting the anticipated footwear normalisation – OKC integration progressing ahead of plan, contributing £14.8m of acquired revenue in its first full half-year, with early cross-selling wins secured – Approved Partner network global rollout continuing, with new distributors and fabricators onboarded across North America, EMEA – Cost discipline & productivity improvements supporting margin gains, with significantly improved profitability in North America offsetting temporary footwear margin moderation 17 Key Messages Industry & customer focus 2026 Interim Results | Zotefoams plc
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18 2026 Project Timeline Construction QualificationEquipment Install Q2 - Q3 Q3 Q4 Key Advantages → In region scalable manufacturing. → Footwear optimized manufacturing process. → Speed, responsiveness, and significant reduction in lead time. → Factory designed for sustainability. Recent Highlights → Environment permit & construction licenses received → Hiring accelerated with numerous new team members → First batch of high-pressure autoclaves arrived onsite → First injection-moulding machine delivered Upcoming Milestones → Lab equipment installed and available (August 2026) → 1st set of autoclaves commissioned (September 2026) → First-stage trials (October 2026) FOOTWEAR MANUFACTURING VIETNAM Close to the customer 2026 Interim Results | Zotefoams plc
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19 2026 Project Timeline Construction Autoclave InstallInjection install Q2 Q3 Q4 Key Advantages → Accelerate materials development for SCF foam. → Enable faster footwear development cycles. → Strengthen collaboration with key partners in Korea. Recent Highlights → Phase 1 hires in place → Construction completed → 1st injection machine installed (June 2026) → Majority of lab equipment installed (April -June 2026) → Already hosting customers Upcoming Milestones → Compression moulding equipment (August 2026) → Lab equipment (September 2026) → Autoclave delivery & commissioning (2027) FOOTWEAR INNOVATION CENTRE KOREA Close to the customer 2026 Interim Results | Zotefoams plc
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STRATEGIC PROGRESS UK BUSINESS Proposed restructuring of UK business – Optimising UK manufacturing footprint to ensure it is aligned with future customer demand and remains fit for purpose for the long term – Repositions Croydon site around materials innovation and non-footwear applications aligned to our other 6 key industries, affirming commitment to UK manufacturing – Global Innovation Hub (Croydon) progressing at pace, strengthening R&D capability to support Group growth – Reflects investment in AI, automation and process improvement across all functions & the planned transfer of footwear production to Vietnam, and increased utilisation of manufacturing capacity in Poland – Subject to consultation and no decisions on individual roles will be taken until it has concluded – Potential annualised savings of approximately £4m expected, with a payback period of less than 1 year, subject to consultation 20 Key Messages Executing the strategy 2026 Interim Results | Zotefoams plc
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STRATEGIC PROGRESS INVESTMENT IN AI Driving productivity, innovation and growth – Customer tools powered by ZoteIQ engine driving lead generation and enabling high-accuracy material recommendations through intuitive digital interfaces – ZoteLabs platform accelerating materials innovation through AI-driven recipe design, validation and feasibility scoring drawing on 2.1m technical and R&D files and more than 6m academic and patent papers – AI in operational planning improving forecasting accuracy and end-to-end production efficiency – Robust AI governance framework and ‘Blackwall’ protection ensuring secure, compliant and responsible AI deployment 21 Key Messages Executing the strategy 2026 Interim Results | Zotefoams plc 2.1m 6m 3.2TB Technical Academic Proprietary files sources corpus
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22 2026 Interim Results | Zotefoams plc
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Outlook 23 Ronan Cox Group CEO 2026 Interim Results | Zotefoams plc
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FULL YEAR OUTLOOK 24 Strong H1 performance underpins confidence in full-year expectations and medium-term growth ambitions Full-year expectations remain unchanged − Strong first-half trading and continued momentum support confidence in delivering full-year results in line with market expectations Strategic investments progressing to plan − Vietnam manufacturing, South Korea Footwear Innovation Centre and UK Global Innovation Hub remain on track and are expected to strengthen the Group's long-term competitive position Proposed restructuring of UK Business − Optimisation of UK operations, alongside increased utilisation of Vietnam and Poland facilities and continued investment in innovation, automation and process improvement Broader and more balanced business − Growth across targeted non-footwear markets, together with OKC and strong Asia performance, is offsetting the anticipated normalisation in footwear Margin progression supported by disciplined execution − Continued cost discipline, productivity improvements and stronger North American profitability support overall margin progression Confidence in medium-term growth strategy − Targeting ambitious progress to deliver revenue of >£230m and operating profit of >£40m by FY2029 2026 Interim Results | Zotefoams plc
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Q&A 25 Ronan Cox Group CEO Nick Wright Group CFO 2026 Interim Results | Zotefoams plc
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Appendices 26 2026 Interim Results | Zotefoams plc
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BUSINESS OVERVIEW 27 Factory / Plant Sales office Innovation Centre Group Revenue by customer location North America EMEA Asia 19% 30% 51% T-FIT UNDER CONSTRUCTIONBLOCK FOAM Zotefoams Inc Walton, KY, USA Foam manufacture Zotefoams Midwest Tulsa, OK, USA Foam-cutting South Korea Footwear Innovation Centre UK Innovation Centre Vietnam Ho Chi Minh City Footwear manufacture Zotefoams UK Croydon Foam manufacture Zotefoams Poland Brzeg Foam manufacture AZOTE® ASIA Hong Kong Sales Joint Venture T-FIT Insulation Solutions Ahmedabad, India T-FIT® sales operation Zotefoams T-FIT Material Technology (Kunshan) China T-FIT® products manufacture OK Company Spain - Burgos & Anglesola Foam Manufacture Head Office London, UK 815 Employees Globally 7 Manufacturing Sites 2026 Interim Results | Zotefoams plc
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OUR INVESTMENT PROPOSITION Zotefoams is an established producer of highly differentiated technical foams used in diverse end-markets globally 28 Quality of Earnings Structural Growth Drivers Experienced Leadership Strategic Differentiation Disciplined Growth and Returns Demand for Zotefoams materials is underpinned by global trends, including lightweighting, enhanced safety and regulatory requirements, sustainability, and increasing technical complexity across end markets. Delivery of the strategy is underpinned by an experienced leadership team with deep sector, operational and functional expertise. A CEO-led group of specialists has been assembled to drive transformation, strengthen capability and accelerate execution. Our world-class manufacturing processes deliver lightweight, durable, highly consistent materials that provide higher performance and more efficient material use. Expertise developed over many decades provides differentiation in demanding, high-specification applications. The Group prioritises organic growth through targeted investment in innovation, capacity and capability, supported by a flexible asset base. Ongoing optimisation of European footprint is complemented by clear focus on directing capital towards strategic opportunities. The Group operates in specialist markets with high barriers to entry, long product lifecycles and embedded customer relationships. As foam technology specialists with deep heritage, our applications require material performance, consistency and reliability. 2026 Interim Results | Zotefoams plc
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100.8 127.4 127.0 147.8 158.5 7.0 12.2 12.8 15.3 21.2 2021 2022 2023 2024 2025 Group revenue PBT £m 2025 2024 2023 2022 2021 Basic earnings per share excluding adjusting item (p) 38.00 25.95 19.0 20.6 9.0 Basic earnings per share (p) 46.37 (5.66) 19.0 20.6 9.0 Dividends per ordinary share (p) 7.9 7.5 7.2 6.8 6.5 ROCE% 13.9 11.7 10.3 10.1 6.1 FIVE-YEAR TRADING HISTORY REVENUE & PROFIT £m CAPITAL EXPENDITURE & CASH GENERATION EARNINGS & ROCE £m 2025 2024 2023 2022 2021 Capital expenditure (including intangibles) 14.2 13.6 8.5 7.0 7.0 Cash generated from operations 39.7 30.4 12.1 23.0 12.2 29 £m 2025 2024 2023 2022 2021 Revenue 158.5 147.8 127.0 127.4 100.8 Adjusted Profit before tax1 21.2 15.3 12.8 12.2 7.0 1 Adjusted for exceptional items £0.9m (2024:£15.2m) and amortisation for acquired intangibles £0.2m (2024: -) 2026 Interim Results | Zotefoams plc
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HY26 KEY FINANCIALS 30 NET CASH USED FROM FINANCING ACTIVITIES £m HY26 HY25 c/fwd (0.4) 6.3 Acquisition of new business, net of cash acquired (3.0) - Net Interest Paid (0.7) (0.5) Lease payments (ex Shincell) (0.7) (0.5) Shincell payments (0.9) (0.9) Dividend paid (2.6) (2.5) (Increase) / decrease in debt (8.3) 1.9 MOVEMENT IN NET DEBT £m HY26 HY25 Opening net debt (ex IFRS 16 leases) (31.5) (24.1) (Increase)/decrease in debt (8.3) 1.9 Other loan movements 0.7 1.1 Closing net debt (ex IFRS 16 leases) (39.1) (21.1) FREE CASH FLOW £m HY26 HY25 Profit before tax 14.0 11.4 Depreciation/Amortisation 6.1 4.3 Finance costs 1.1 0.8 Other 1.4 (0.7) Op profit before movements in W/C & provisions 22.6 15.8 Movement in receivables (7.7) (3.6) Movement in inventory (7.7) 0.7 Movement in payables 1.4 3.3 Net movement in working capital (14.0) 0.4 Pension contributions (0.4) (0.4) Cash generated from operations 8.2 15.8 Tax paid (1.4) (1.7) Investment in intangibles (0.0) (0.0) Purchase of PPE (7.2) (8.5) Disposal of PPE 0.0 0.7 Free cash flow (0.4) 6.3 2026 Interim Results | Zotefoams plc
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BALANCE SHEET 31 CASH FLOW £m HY26 HY25 Profit before tax 14.0 11.4 Depreciation/Amortisation 6.1 4.3 Finance costs 1.1 0.8 Other 1.4 (0.7) O.P. before movements in W/C & Provisions 22.6 15.8 Movement in receivables (7.7) (3.6) Movement in inventory (7.7) 0.7 Movement in payables 1.4 3.3 Net movement in working capital (14.0) 0.4 Pension contributions (0.4) (0.4) Cash generated from operations 8.2 15.8 Tax paid (1.4) (1.7) Investment in intangibles (0.0) (0.0) Purchase/disposal of PPE (7.2) (7.8) Free cash flow (0.4) 6.3 Acquisition of new business, net of cash acquired (3.0) - Net interest paid (0.7) (0.5) Lease payments (0.7) (0.5) Shincell payments (0.9) (0.9) Dividend paid (2.6) (2.5) (Increase) / decrease in debt (8.3) 1.9 £m Jun-26 Jun-25 Change Intangible assets 22.5 0.3 >100% Property, Plant & Equipment 109.1 93.3 17% Right of use assets – ex Shincell 5.8 1.9 >100% Right of use assets – Shincell 6.1 6.8 (10%) Tangible & intangible fixed assets 143.5 102.3 40% Net working capital 54.7 48.5 (13%) Post-employment benefits - (0.6) (100%) Net debt (including IFRS 16) (49.5) (29.1) 70% Net deferred tax liability (3.3) (5.7) (42%) Deferred consideration (4.3) - >100% Provision for MEL closure costs (0.6) (0.1) >100% Other assets/(liabilities) (1.4) 2.7 >(100%) Total net assets 139.1 118.0 18% Issued share capital 2.5 2.4 4% Share premium 44.2 44.2 0% Retained earnings 90.0 68.1 32% Translation reserve 2.8 1.9 47% Other reserves (0.4) 1.4 >(100%) Total equity 139.1 118.0 18% 2026 Interim Results | Zotefoams plc
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OUR MARKET VERTICALS & TYPICAL APPLICATIONS 32 Construction & Other Industrial Transport & Smart TechnologiesConsumer & Lifestyle Aerospace Ducting Thermal Insulation Noise Vibration Harshness (NVH) Interior Trim Low Dielectric Transport Thermal Insulation NVH Trim/Luxury Trim Gap Filler EV Battery Seals Cell Dividers Shock Absorbers Crash Protection Industrial Packaging Case Packaging Conductive Protective Inserts ESD protection Lux. & HV goods Medical Packaging Toolkits Medical Insoles Medical Dev/Equip Prosth. & Ortho. Medical Insoles MRI & CT scanning Footwear Premium & performance soles Sports & Leisure Protective gear Recreational sports equipment Construction & Insulation Equipment & Skid Insulation Pipe Insulation Expansion Joint & Seals 2026 Interim Results | Zotefoams plc