Earnings release
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-The quarterly results are not audited- Page 1 of 17 KE NDRION N.V. PRESS RELEASE 2 6 August 2026 Kendrion reports strong first half of 2026, with continuing growth in revenue and profitability • Q2 2026 revenue grew by 4% to EUR 63.6 million (Q2 2025: EUR 61.4 million) • HY1 2026 revenue was EUR 128.8 million, up 4% (HY1 2025: EUR 123.4 million) • Q2 2026 normalized EBITDA increased by 16% to EUR 11.5 million (Q2 2025: EUR 9.9 million) • HY1 2026 normalized EBITDA grew by 18% to EUR 22.5 million (HY1 2025: EUR 19.0 million) • HY1 2026 normalized EBITDA margin of 17.5% (HY1 2025: 15.4%), at the upper end of the target range • HY1 2026 normalized return on invested capital increased to 26.3% (HY1 2025: 13.9%) • Strategic update and 2027–2030 financial targets to be presented at the Capital Markets Day on 17 September 2026 Key figures1 Reported (in EUR million) Q2 2026 Q2 2025 delta H Y1 2026 HY1 2025 delta Revenue 63.6 61.4 4% 128. 8 123.4 4% EBITDA 11.1 9.5 17% 21. 9 18.4 19% EBITA 8.0 6.2 29% 15. 8 12.0 32% Net profit from continuing operations 4.9 3.6 36% 9. 6 6.5 48% Net profit from discontinued operations (0.1) 0.8 NM4 (0.3) 1.1 NM4 Net profit 4.8 4.4 9% 9. 3 7.6 22% EBITDA as a % of revenue 17.5% 15.5% 17.0% 14. 9% EBITA as a % of revenue 12.6% 10.1% 12.3% 9. 7% Normalized (in EUR million)2 Q2 2026 Q2 2025 delta HY1 2026 HY1 2025 delta Revenue 63.6 61.4 4% 128. 8 123.4 4% EBITDA 11.5 9.9 16% 22. 5 19.0 18% EBITA 8.4 6.6 27% 16. 4 12.6 30% Net profit before amortization from continuing operations 5.9 4.3 37% 11. 1 7.7 44% Net profit before amortization from discontinued operations - 0.8 NM4 - 1.1 NM4 Net profit before amortization 5.9 5.1 16% 11. 1 8.8 26% EBITDA as a % of revenue 18.1% 16.1% 17.5% 15. 4% EBITA as a % of revenue 13.2% 10.7% 12.7% 10. 2% Return on invested capital3 (12 months rolling) 26.3% 13.9% 1 Revenue and profit measures reflect continuing operations only, excluding the divested China and Automotive activities, w hich are presented under “net profit from discontinued operations". 2 Results from continuing operations are normalized for costs and benefits outside the ordinary course of operations. A reconciliation from reported to normalized figures can be found in annex 5. 3 Invested capital excluding intangibles arising from acquisitions. 2025 is including discontinued operations. 4 NM: not meaningful
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-The quarterly results are not audited- Page 2 of 17 Joep van Beurden, Kendrion CEO: “A robust second quarter built on a solid first quarter, giving us a strong first half of 2026 in both revenue and profitability. Our EBITDA margin is at the upper end of our EBITDA target range of 15% -18%, which is clear evidence that our transformation to an industrial motion and control specialist is paying off. Both Industrial Brakes (IB) and Industrial Actuators & Controls (IAC) grew in the first half of the year, and the order book for the remainder of the year is healthy. Mobility, which we are gradually exiting, delivered an excellent six months, with further improvements in profitability and cash generation. These results show the value of our focus on the high- value segments of r obotics and a utomation, healthcare and medtech, energy and transmission, and industrial safety. The order book is healthy and the project pipeline is at record levels. Both IAC and IB have clear room to grow in the second half of this year and well beyond it. A normalized EBITDA margin of 17.5% and a return on invested capital of 26.3% mean we have met or exceeded our 2027 financial targets ahead of schedule. At our Capital Markets Day on 17 September 2026, we will set out our strategy and financial targets for 2027–2030, together with insight into our project pipeline and product development. Macroeconomic risks such as inflationary pressures and geopolitical uncertainty persist, but our markets of focus are structural growth markets. We are confident in delivering continuing profitable growth in the second half of 2026 and beyond.” Progress on strategy Kendrion sits at the center of a profound shift in how industrial machines are designed, built, and operated. AI and automation are pushing systems toward greater autonomy but while AI can design, compute and optimize, it cannot generate movement. That is where we see our opportunity. As customers expand across robotics and automation, healthcare and medical technology, and energy and transmission infrastructure, and integrated safety systems, they need motion solutions that combine functional safety, precision and long-term reliability. These are Kendrion's strengths. We are focusing the portfolio on high-value applications where our expertise in valves, actuators, brakes and motion control is decisive. These include intelligent actuators for dynamic, precisely controlled movement; compact braking systems that make collaborative robots safe; and motion control for machines that navigate and correct their own movement in real time. The order book is healthy, and the project pipeline is at record levels. We remain disciplined in allocating resources and direct investment toward opportunities that offer attractive growth and profitability. Every opportunity must meet three criteria. First, financial attractiveness: expected annual revenue growth of more than 10% and a fully costed EBITDA margin of more than 20%. Second, competitive differentiation, supported by intellectual property, regulatory positioning, or proprietary Kendrion expertise. Third, mission- critical relevance: our solution is essential to the customer's application, the cost of failure is high, and Kendrion’s content represents a small share of the total system cost. This approach concentrates innovation on opportunities where Kendrion can create sustainable value and build long- term customer relationships. We will provide more detail on product innovation and the project pipeline at our Capital Markets Day.
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-The quarterly results are not audited- Page 3 of 17 Financial review Revenue Q2 2026 Group revenue for the second quarter of 2026 was EUR 63.6 million, 4% above the same period last year (Q2 2025: EUR 61.4 million). Currency translation did not have a material effect on revenue in Q2. IB revenue rose 8% to EUR 25. 1 million (Q2 2025: EUR 23. 2 million), driven by broad -based growth in robotics and automation and the conversion of new projects into revenue. IAC revenue was 2% lower at EUR 28.1 million (Q2 2025: EUR 28.6 million). Market demand continued to grow but was offset by customer-specific volumes at a limited number of accounts rather than underlying market conditions. However, IAC’s order intake and the project pipeline support growth. Mobility revenue increased by 8% to EUR 10.4 million (Q2 2025: EUR 9.6 million), as the ramp-up of newer projects and strong call-offs more than offset the effect of phasing-out programs. HY1 2026 Group revenue for the first six months of 2026 increased by 4% to EUR 128.8 million (HY1 2025: EUR 123.4 million), with all business units contributing. At constant exchange rates, revenue increased by 5%. IB revenue rose by 8% to EUR 51.5 million (HY1 2025: EUR 47.5 million), driven by sustained demand in Automation & Robotics and an encouraging ramp -up in medical robotics applications. For the first half, IAC revenue was 1% higher at EUR 56.4 million (HY1 2025: EUR 55.8 million). The pattern was consistent with the second quarter: broad-based growth across IAC's markets was partly offset by order volume at a limited number of accounts. Order intake and the project pipeline point to continuing growth. Mobility revenue increased by 4% to EUR 20.9 million (HY1 2025: EUR 20.1 million), as the ramp-up of newer projects more than offset phasing-out programs. Results Q2 2026 Normalized EBITDA was EUR 11. 5 million, up 1 6% on the same period last year (Q2 2025: EUR 9.9 million), representing 18.1% of revenue compared with 16.1%, an increase of 2.0 percentage points. The added value margin was 57.2%, a slight 0.1 percentage point decrease from the previous year as the sales mix offset positive pricing effects. Staff costs decreased by EUR 0.6 million, driven by the cost savings initiated last year after the divestment of the business in China. Other operating expenses increased by EUR 1.0 million, but this was largely offset by higher other operating income, leading to a net increase of EUR 0. 1 million. Depreciation was EUR 3. 1 million (Q2 2025: EUR 3.3 million), resulting in normalized EBITA of EUR 8.4 million (Q2 2025: EUR 6.6 million), up 27%. Restructuring costs of EUR 0.4 million relating to staff reductions were normalized in the quarter.
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-The quarterly results are not audited- Page 4 of 17 HY1 2026 Normalized EBITDA for the Group increased by 18% to EUR 22.5 million (HY1 2025: EUR 19.0 million), driven by positive pricing and higher volumes. Other operating expenses were EUR 2. 0 million higher, primarily reflecting costs previously borne by the China business, which was sold in the fourth quarter of 2025. This was largely offset by EUR 0.8 million in lower staff costs and EUR 0.9 million in higher other operating income. Depreciation charges were EUR 6.1 million (HY1 2025: EUR 6.4 million), resulting in a normalized EBITA of EUR 16.4 million, up 30% (HY1 2025: EUR 12.6 million). Industrial delivered a further margin improvement, with the margin increasing by 1.2 percentage points to 16.1% (HY1 2025: 14.9%), reflecting pricing, cost control and volume growth. Mobility's margin increased to 24.9% (HY1 2025: 17.9%), reflecting execution of the segment's cash generation strategy and a EUR 1.3 million contractual milestone payment under the cooperation agreement recogni zed in the first half. The agreement has made the segment's cost base largely variable, supporting continued cash generation as volumes gradually decline. Net finance charges were EUR 1. 5 million, down from EUR 1.8 million in HY1 2025, as a result of lower average debt levels. Corporate income tax charges on normalized income were EUR 3. 3 million (HY1 2025: EUR 2.6 million), resulting in an effective tax rate of 24.3% (HY1 2025: 27.4%). Normalized net profit before amortization charges arising from acquisitions was EUR 11.1 million from continuing operations, up 44% from EUR 7.7 million in HY1 2025. Operating costs of EUR 0.6 million relating to restructuring charges were normalized in HY1 2026. The net result from discontinued operations was a loss of EUR 0.3 million, primarily related to the settlement of a claim by a legacy automotive customer. The amount settled exceeded the provision previously recorded. The matter is now closed. Financial Position At the end of Q2 2026, total net debt was EUR 48.1 million, up EUR 7.2 million from Q1, due to the dividend payment during the quarter. Despite this increase, the leverage ratio was 1.2, compared with 2.4 at the end of the second quarter last year. Free cash flow in the second quarter amounted to EUR 3.6 million, bringing the year-to-date total to EUR 0.6 million, down from EUR 0.9 million in the first half of 2025. The year-to-date figure reflects the usual seasonal build-up of working capital in the first months of the year , as well as the timing of corporate tax payments. Normalized free cash flow amounted to EUR 4.0 million, excluding payments against previously recognized provisions for restructuring and a tax audit settlement relating to 2022. Kendrion reached an agreement on key terms for a EUR 70 million revolving credit facility to refinance its existing loan facility, which is due to expire in April 2027. The refinancing is expected to be completed in the second half of 2026. Number of employees At the end of the second quarter of this year, Kendrion employed 1,238 FTE, 80 fewer than in Q2 2025 on a like-for-like basis. The workforce comprised 686 direct FTE and 552 indirect FTE.
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-The quarterly results are not audited- Page 5 of 17 Outlook Macroeconomic visibility remains limited , and geopolitical and trade uncertainty persists. Against this backdrop, Kendrion expects its strong performance to continue, supported by a healthy order book and a strong project pipeline. Over the longer term, Kendrion is well positioned to benefit from structural growth the high-value segments of robotics and automation, healthcare and medtech, energy and transmission, and industrial safety . As industrial systems become smarter and more autonomous, the need for safe, precise and reliable motion solutions is increasing. We see these trends as important drivers of sustainable and profitable growth for Kendrion in the years ahead. Kendrion will share its strategic plans and updated financial targets during its Capital Markets Day on 17 September 2026. Analyst meeting and audio webcast Kendrion CEO Joep van Beurden and CFO Jeroen Hemmen will present the Q2 and HY1 2026 results to the analyst community today at 11:00 a.m. CEST. The audio webcast will be available for viewing on the website. A recording will be available from 2:00 p.m. CEST on www.kendrion.com. Capital Markets Day Kendrion will hold a Capital Markets Day for analysts, investors, and shareholders on Thursday, 17 September 2026 at 2:00 p.m. CEST in Amsterdam. During this event, Kendrion’s strategic and financial ambitions will be presented. Profile of Kendrion N.V. Kendrion develops, manufactures, and markets high-quality electromagnetic systems and components for a broad range of industrial applications. For more than a century, we have engineered precision parts for the world's leading innovators in industrial technology. As a leading technology pioneer, Kendrion invents, designs, and manufactures complex components and customi zed systems, including local solutions on demand. We are committed to the engineering challenges of tomorrow, with responsibility for how we source, manufacture, and conduct business embedded in our culture of innovation. Headquartered in the Netherlands and listed on the Amsterdam stock exchange, Kendrion's expertise extends across Europe, the Americas and Asia. Created with passion and engineered with precision. Amsterdam, 26 August 2026 The Executive Board For more information, please contact: Kendrion N.V. Mr. Joep van Beurden Chief Executive Officer Tel: +31 6 82 56 85 65 Email: IR@kendrion.com Website: www.kendrion.com
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-The quarterly results are not audited- Page 6 of 17 Annexes 1. Consolidated statement of comprehensive income 2. Consolidated statement of financial position 3. Consolidated cash flow statement 4. Consolidated statement of changes in equity 5. Reconciliation of non-IFRS financial measures 6. Risks and risk management 7. Notes to the consolidated interim financial statements 8. Financial calendar 2026–2027
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-The quarterly results are not audited- Page 7 of 17 Annex 1 – Consolidated statement of comprehensive income* * Not adjusted for non-recurring items (EUR million) Q2 Q2 half year half year full year 2026 2025 2026 2025 2025 Revenue 63.6 61.4 128.8 123.4 245.5 Other income 1.8 0.9 3.2 2.3 4.4 Total revenue and other income 65.4 62.3 132.0 125.7 249.9 Changes in inventories of finished goods and work in progress (0.3) 0.2 (1.7) 0.6 0.4 Raw materials and subcontracted work 28.1 26.5 57.9 53.9 106.6 Staff costs 21.4 22.0 43.0 43.9 87.6 Depreciation and amortization 3.6 3.8 7.2 7.5 15.0 Impairments of fixed assets 0.0 0.0 0.0 0.0 0.0 Other operating expenses 5.1 4.1 10.9 8.9 19.0 Result before net finance costs 7.5 5.7 14.7 10.9 21.3 Finance income 0.1 0.0 0.2 0.0 0.1 Finance expense (0.8) (0.8) (1.7) (1.8) (3.8) Share profit/ (loss) of an associate (0.1) (0.1) (0.2) (0.2) (0.3) Profit before income tax 6.7 4.8 13.0 8.9 17.3 Income tax expense (1.8) (1.2) (3.4) (2.4) (3.7) Profit for the period continuing operations 4.9 3.6 9.6 6.5 13.6 Profit/ (Loss) after tax from discontinued operations (0.1) 0.8 (0.3) 1.1 5.9 Profit for the period 4.8 4.4 9.3 7.6 19.5 Other comprehensive income Remeasurements of defined benefit plans1 - - 0.0 Foreign currency translation differences for foreign operations2 0.0 (7.1) (2.7) Net change in fair value of cash flow hedges, net of income tax2 0.2 (0.2) 0.1 Other comprehensive income for the period, net of income tax 0.2 (7.3) (2.6) Total comprehensive income for the period3 9.5 0.3 16.9 Basic earnings per share (EUR), based on weighted average 0.31 0.28 0.61 0.49 1.24 Basic earnings per share (EUR), based on weighted average (diluted) 0.31 0.28 0.60 0.48 1.24 Earnings per share for continuing operations Basic earnings per share (EUR), based on weighted average 0.32 0.23 0.63 0.41 0.87 Basic earnings per share (EUR), based on weighted average (diluted) 0.32 0.23 0.62 0.41 0.86 1 This item will never be reclassified to profit or loss. 2 These items may be reclassified to profit or loss. 3 All profits are attributable to owners of the company as non-controlling interests are not applicable.
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-The quarterly results are not audited- Page 8 of 17 Annex 2 – Consolidated statement of financial position (EUR million) 30 June 30 June 31 Dec. 2026 2025 2025 Assets Non-current assets Property, plant and equipment 49.5 87.7 52.4 Intangible assets 103.6 111.2 104.3 Other non-current assets 4.2 3.3 4.3 Deferred tax assets 10.6 19.1 12.3 Total non-current assets 167.9 221.3 173.3 Current assets Inventories 48.4 53.8 44.5 Current tax assets 1.5 0.9 1.4 Trade and other receivables 33.0 55.3 23.6 Cash and cash equivalents 11.3 7.7 29.4 Assets classified as held for sale - 1.9 - Total current assets 94.2 119.6 98.9 Total assets 262.1 340.9 272.2 Equity and liabilities Equity Share capital 30.3 31.6 31.6 Share premium 36.5 36.5 36.5 Reserves 68.9 79.3 65.8 Retained earnings 9.3 7.6 19.5 Total equity 145.0 155.0 153.4 Liabilities Loans and borrowings 3.8 88.0 57.3 Employee benefits 6.7 6.8 6.8 Deferred tax liabilities 11.6 14.2 11.3 Provisions 2.3 0.8 2.6 Total non-current liabilities 24.4 109.8 78.0 Bank overdraft 0.8 6.3 0.0 Loans and borrowings 54.8 10.7 2.4 Provisions 0.4 0.7 0.0 Current tax liabilities 1.5 6.3 4.7 Trade and other payables 35.2 52.1 33.7 Total current liabilities 92.7 76.1 40.8 Total liabilities 117.1 185.9 118.8 Total equity and liabilities 262.1 340.9 272.2
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-The quarterly results are not audited- Page 9 of 17 Annex 3 – Consolidated cash flow statement (EUR million) half year half year full year 2026 2025 2025 Cash flows from operating activities Profit/ (Loss) for the period 9.3 7.6 19.5 Adjustments for: Net finance costs 1.6 3.0 5.3 Share profit or loss of an associate 0.2 0.2 0.3 Result on sale of subsidiaries before tax, non cash - (0.3) (4.0) Income tax expense 3.3 2.8 4.7 Depreciation of property, plant and equipment and software 6.1 8.1 15.3 Amortization of other intangible assets 1.1 1.1 2.3 Impairments of fixed assets 0.0 0.0 0.2 Share-based payments 0.1 0.0 0.1 Cash flows used in operations before changes in working capital 21.7 22.5 43.7 Change in trade and other receivables (9.2) (8.3) (2.5) Change in inventories (4.0) 3.2 3.7 Change in trade and other payables 1.8 (4.4) (0.0) Change in provisions (0.1) (4.8) (5.1) Cash flows used in operations 10.2 8.2 39.8 Interest paid (1.7) (2.6) (4.8) Interest received 0.2 0.0 0.1 Tax paid (4.7) (0.6) (4.7) Net cash flows from operating activities 4.0 5.0 30.4 Cash flows from investing activities Sale of subsidiaries, net of cash - 8.6 64.5 Purchase of property, plant and equipment (2.2) (3.1) (6.2) Disposal of property, plant and equipment 0.0 0.6 1.0 Purchase of intangible fixed assets (1.2) (1.6) (4.1) Investments in other investments (0.0) - (1.7) Net cash from investing activities (3.4) 4.5 53.5 Cash flows from financing activities Payments of lease liabilities (1.1) (1.3) (2.4) Repayments of borrowings (0.3) (29.3) (56.4) Proceeds from borrowings - 20.0 20.0 Own shares repurchased (7.5) - (2.5) Dividends paid (10.6) (3.9) (19.7) Net cash from financing activities (19.5) (14.5) (61.0) Change in cash and cash equivalents (18.9) (5.0) 22.9 Cash and cash equivalents as at 1 January 29.4 6.8 6.8 Effect of exchange rate fluctuations on cash held 0.0 (0.4) (0.3) Cash and cash equivalents as at 30 June 10.5 1.4 29.4
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-The quarterly results are not audited- Page 10 of 17 Annex 4 – Consolidated statement of changes in equity (EUR million) Share capital Share premium Translation reserve Hedge reserve Reserve for own shares Other reserves Retained earnings Total equity Balance as at 1 January 2025 31.0 37. 1 1.2 (0.2) - 93.9 (4.5) 158.5 Total comprehensive income for the period Profit for the period - - - - - - 7. 6 7.6 Other comprehensive income Remeasurements of defined benefit plans - - - - - - - - Foreign currency translation differences for foreign operations - - ( 7.1) - - - - (7.1) Net change in fair value of cash flow hedges, net of income tax - - - ( 0.2) - - - (0.2) Other comprehensive income for the period, net of income tax - - ( 7.1) (0.2) - - - (7.3) Total comprehensive income for the period - - ( 7.1) (0.2) - - 7.6 0.3 Transactions with owners, recorded directly in equity Issue of ordinary shares 0.6 2.5 - - - ( 0.0) - 3.1 Share-based payment transactions - - - - - 0. 1 - 0.1 Dividends to equity holders - (3.1) - - - ( 3.9) - (7.0) Appropriation of retained earnings - - - - - ( 4.5) 4.5 - Balance as at 30 June 2025 31.6 36.5 ( 5.9) (0.4) - 85.6 7.6 155.0 (EUR million) Share capital Share premium Translation reserve Hedge reserve Reserve for own shares Other reserves Retained earnings Total equity Balance as at 1 January 2026 31.6 36. 5 (1.5) (0.1) (2.5) 69.9 19.5 153.4 Total comprehensive income for the period Profit for the period - - - - - - 9. 3 9.3 Other comprehensive income Remeasurements of defined benefit plans - - - - - - - - Foreign currency translation differences for foreign operations - - 0. 0 - - - - 0.0 Net change in fair value of cash flow hedges, net of income tax - - - 0. 2 - - - 0.2 Other comprehensive income for the period, net of income tax - - 0. 0 0.2 - - - 0.2 Total comprehensive income for the period - - 0. 0 0.2 - - 9.3 9.5 Transactions with owners, recorded directly in equity Own shares repurchased - - - - ( 7.5) - - (7.5) Share-based payment transactions - - - - 0. 2 0.0 - 0.2 Cancellation of treasury shares (1.3) - - - 9. 8 (8.5) - - Dividends to equity holders - - - - - (10.6) - (10.6) Appropriation of retained earnings - - - - - 19. 5 (19.5) - Balance as at 30 June 2026 30.3 36.5 ( 1.5) 0.1 - 70.3 9.3 145.0
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-The quarterly results are not audited- Page 11 of 17 Annex 5 – Reconciliation of non-IFRS financial measures Revenue - Organic growth EUR million HY1 2026 HY1 2025 Reported revenue 128.8 123.4 Exclude: currency effects on total revenue 0.7 - Revenues (excl. currency effects) 129.5 123.4 Organic growth 4.9% Added value EUR million - unless stated otherwise HY1 2026 HY1 2025 Reported total revenue and other income 132.0 125.7 less: Reported changes in inventories of finished goods and work in progress 1.7 (0.6) less: Reported raw materials and subcontracted work (57.9) (53.9) Reported added value 75.8 71.2 Reported added value margin % 56.7% 56.9% Normalization of other costs and (benefits) outside the ordinary course of operations - 0.1 Normalized added value 75.8 71.1 Normalized added value margin % 56.7% 56.8% Normalized staff and other operating expenses EUR million HY1 2026 HY1 2025 Reported staff costs 43.0 43.9 Reported impairments of fixed assets 0.0 0.0 Reported other operating expenses 10.9 8.9 Reported staff, impairments of fixed assets and other operating expenses 53.9 52.8 Normalization of restructuring charges (0.6) (0.7) Normalized staff, impairments of fixed assets and other operating expenses 53.3 52.1 Bridge from EBITDA to normalized net profit before amortization EUR million - unless stated otherwise HY1 2026 HY1 2025 Reported result before net finance costs 14.7 10.9 Reported depreciation and amortization 7.2 7.5 Reported operating result before depreciation & amortization (EBITDA) 21.9 18.4 less: Depreciation on PP&E and amortization on non-PPA related intangibles (6.1) (6.4) Reported operating result before amortization (EBITA) 15.8 12.0 Normalization of costs and (benefits) related to: Restructuring measures - Industrial 0.5 0.5 Restructuring measures - Other 0.1 0.2 Other costs and (benefits) outside the ordinary course of operations - Other - (0.1) Total normalizations 0.6 0.6 Normalized EBITDA 22.5 19.0 Normalized EBITDA margin % 17.5% 15.4% Normalized EBITA 16.4 12.6 Normalized EBITA margin % 12.7% 10.2% Reported amortization on PPA related intangibles (1.1) (1.1) Reported net finance costs (1.5) (1.8) Reported share profit or loss of an associate (0.2) (0.2) Normalized profit before income tax 13.6 9.5 Reported income tax expense (3.4) (2.4) Normalization related to deferred income tax adjustment 0.2 - Impact costs / (benefits) outside the ordinary course of operations on income tax expense (0.1) (0.2) Amortization after tax 0.8 0.8 Normalized net profit before amortization from discontinued operations - 1.1 Normalized net profit for the period before amortization 11.1 8.8 Net debt EUR million HY1 2026 HY1 2025 Total interest bearing loans 59.4 105.0 less: Cash and cash equivalents (11.3) (7.7) Net debt 48.1 97.3 Free cash flow EUR million HY1 2026 HY1 2025 Net cash flow from operating activities 4.0 5.0 Net cash flow from investing activities (3.4) 4.5 Free cash flow 0.6 9.5 Normalized effective tax rate EUR million - unless stated otherwise HY1 2026 HY1 2025 Reported income tax expense (3.4) (2.4) Normalization related to deferred income tax adjustment 0.2 - Impact costs / (benefits) outside the ordinary course of operations on income tax expense (0.1) (0.2) Normalized income tax expense (3.3) (2.6) Normalized profit before income tax 13.6 9.5 Normalized effective tax rate % 24.3% 27.4%
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-The quarterly results are not audited- Page 12 of 17 Annex 6 – Risks and risk management The 2025 Annual Integrated Report of Kendrion N.V. describes the key risk categories and risk factors that could have an adverse impact on Kendrion’s business and financial performance. The risk factors described in Kendrion N.V.’s 2025 Annual Integrated Report on pages 31 to 37 are deemed to be included herein by reference. Additional risks not known to Kendrion, or currently believed not to be material, may emerge and later turn out to have a material impact on Kendrion’s business, objectives, or capital resources.
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-The quarterly results are not audited- Page 13 of 17 Annex 7 – Notes to the consolidated interim financial statements 1. Reporting entity Kendrion N.V. is a public company organized under Dutch law. Its statutory seat and principal office are both located in Amsterdam, the Netherlands. Kendrion N.V. and its consolidated subsidiaries design, manufacture, and market high-quality electromagnetic systems and components for a broad range of industrial applications, including wind energy, robotics, medical devices, factory automation, energy distribution, and industrial heating processes. The consolidated interim financial statements as of and for the six-month period ended 30 June 2026 include the results of Kendrion N.V., its subsidiaries (collectively referred to as the “Group”), and the Group's interests in associates and jointly controlled entities. The consolidated interim financial statements are unaudited. 2. Declaration of conformity The consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, IAS 34, Interim Financial Reporting, and should be read in conjunction with the annual consolidated financial statements as of and for the year ended 31 December 2025, which are available at Kendrion N.V.’s registered office at Herikerbergweg 213, 1101 CN Amsterdam, or on www.kendrion.com. The consolidated interim financial statements do not include all the information required for a complete set of IFRS financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the most recent annual consolidated financial statements as of and for the year ended 31 December 2025. The consolidated interim financial statements were authorized for issue by the Executive Board and the Supervisory Board on 25 August 2026. 3. Significant accounting policies The accounting policies applied in the consolidated interim financial statements are the same as those applied in the Group's consolidated financial statements as of and for the year ended 31 December 2025. To the extent that amendments to International Financial Reporting Standards and interpretations have become effective for annual periods beginning on or after 1 January 2026, these do not have a material impact on the Group’s financial performance in the first six months of 2026 and the financial position as of 30 June 2026. 4. Accounting estimates The preparation of the consolidated interim financial statements requires the Executive Board to make judgments, estimates, and assumptions that affect the application of accounting policies, the reported amounts of assets, liabilities, income, and expenditures, as well as the information disclosed. Actual results may differ from these estimates. The Group has used its best judgment in making reasonable estimates.
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-The quarterly results are not audited- Page 14 of 17 Unless otherwise specified herein in the preparation of the consolidated interim financial statements, important opinions formed by management in applying the Group’s accounting policies, and the main sources of estimation used are equal to the opinions and sources used in preparing the annual consolidated financial statements as of and for the year ended 31 December 2025. 5. Financial risk management The Group’s objectives and policy relating to financial risk management are identical to the objectives and policy disclosed in the annual consolidated financial statements as of and for the year ended 31 December 2025. 6. Segment reporting Based on the structure of the Kendrion Group and the criteria set out in IFRS 8 Operating segments, Kendrion has concluded that the two reportable segments are Industrial and Mobility. 7. Seasonality Kendrion is not significantly affected by seasonal trends. However, there are fewer working days in the second half of the year due to summer holiday periods in the third quarter and bank holidays in December. 8. Changes in the Group There were no changes in the Group as of 30 June 2026 compared to 31 December 2025. 9. Main currencies The table below shows the main exchange rates during the first half of 2026: (x EUR 1 million unless otherwise stated) HY1 2026 HY1 2025 HY1 2026 H Y1 2025 HY1 2026 HY1 2025 Revenue from transactions with third parties 107.9 103.3 20.9 20.1 128.8 123.4 Inter-segment revenue 0.0 0.0 0.0 0.0 0.0 0.0 EBITDA 16.8 14.9 5.1 3.5 21.9 18.4 EBITDA as a % of revenue 15.6% 14.4% 24.4% 17.4% 17.0% 14.9% Normalized EBITDA1 17.3 15.4 5. 2 3.6 22.5 19.0 Normalized EBITDA as a % of revenue1 16.1% 14.9% 24. 9% 17.9% 17.5% 15.4% Reportable segment assets 236.9 275.7 25.2 65. 2 262.1 340.9 Reportable segment employees (FTE) 1,049 1,276 189 299 1,238 1,575 Industrial Mobility Consolidated normalized figures can be found in annex 5. 1Results from continuing operations are normalized for costs and benefits outside the ordinary course of operations. A reconciliation from reported to Value of EUR As at 30 June 2026 As at 31 December 2025 Average over HY1 2026 US dollar 1.1394 1.1750 1.1671 Romanian lei 5.2439 5.0968 5.1515 Swedish krona 11.0935 10.8215 10.8073 Indian rupee 107.8516 105.5966 108.5541
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-The quarterly results are not audited- Page 15 of 17 10. Property, plant, and equipment Capital commitments As of 30 June 2026, the Group had agreements outstanding for the acquisition of property, plant and equipment amounting to EUR 2.4 million (versus EUR 2.0 million as of 30 June 2025). 11. Impairment During the first half of 2026, as in previous periods, Kendrion assessed whether there were any indications of impairment of goodwill or other key assets. No impairments have been recorded. 12. Deferred tax assets As of 30 June 2026, deferred tax assets amounted to EUR 10.6 million, of which a total of EUR 5.8 million relates to the valuation of tax losses carried forward and can be broken down as follows: Germany EUR 4.3 million United States of America EUR 1.1 million The Netherlands EUR 0.4 million 13. Assets held for sale and discontinued operations Results from discontinued operations reflect the divestment of the China-based business (finalized in October 2025), the European and US automotive activities (finalized in October 2024), and the outcome of winding down R&D for the automotive sound business. These R&D activities were not sold but were part of a single, coordinated strategic plan to focus on industrial activities and China. 14. Equity The table below shows the number of outstanding shares as of 30 June 2026. Shares entitled to dividend Shares owned by Kendrion Total number of issued shares As at 1 January 2026 15,622,094 185,333 15,807,427 Granted shares (share plan) 11,336 (11,336) - Repurchased shares (476,682) 476,682 - Cancellation of treasury shares - (650,679) (650,679) As at 30 June 2026 15,156,748 - 15,156,748
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-The quarterly results are not audited- Page 16 of 17 15. Loans and borrowings As of 30 June 2026, the Group had the following credit lines available: • EUR 50 million revolving credit facility with a syndicate of two banks, HSBC and ING Bank. The credit facility is committed through April 2027 • EUR 52.5 million Schuldschein private placement loan, which matures in April 2027 • EUR 5.9 million in leases for various buildings, equipment, and vehicles • EUR 3.6 million in other loans, with short maturities between 2025 and 2026 As of 30 June 2026, the total unused amount of the facilities was approximately EUR 53 million. Security provided No security is provided in relation to the EUR 50 million revolving credit facility and the EUR 52.5 million Schuldschein loan. Refinancing of existing credit facilities Kendrion has reached an agreement on key terms for a revolving loan facility to refinance the Group's current revolving credit facility and Schuldschein financing, both of which mature in April 2027. The proposed financing structure comprises a revolving credit facility with a total commitment of EUR 70 million and a maturity of three years, with two one-year extension options. Kendrion expects to complete the refinancing in the second half of 2026. 16. Taxes The tax expense for the first six months of 2026 for continuing operations was EUR 3.4 million, equivalent to a 26.1% effective tax rate. 17. Financial instruments As of 30 June 2026, the aggregate fair value of the outstanding interest rate swaps and forward exchange contracts recognized in the balance sheet was a EUR 0.2 million asset (31 December 2025: EUR 0.2 million liability). There have been no material changes since the end of 2025 in sensitivity to market risks (i.e., currency, interest rates, and prices). 18. Commitments, contingent assets, and contingent liabilities There have been no material changes since the end of 2025 in the contingent assets and liabilities described in Note 18 of the Annual Integrated Report for the 2025 financial year. 19. Related parties For the definition of "related parties," please refer to Note 25 of the Group's Annual Integrated Report for the 2025 financial year. No new significant related party transactions have occurred during the first half of 2026.
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-The quarterly results are not audited- Page 17 of 17 Annex 8 – Financial calendar 2026 - 2027 2026 Capital Markets Day Thursday, 17 September 2026 02.00 p.m. Publication of Q3 2026 results Tuesday, 10 November 2026 07.30 a.m. Analyst call Tuesday, 10 November 2026 11.00 a.m. 2027 Publication Q4 and FY 2026 results Friday, 26 February 2027 07.30 a.m. Analyst meeting Friday, 26 February 2027 11.00 a.m. General Meeting of Shareholders Monday, 12 April 2027 02.00 p.m. Publication Q1 2027 results Tuesday, 11 May 2027 07.30 a.m. Analyst call Tuesday, 11 May 2027 11.00 a.m. Publication Q2 and HY1 2027 results Wednesday, 25 August 2027 07.30 a.m. Analyst meeting Wednesday, 25 August 2027 11.00 a.m. Publication Q3 2027 results Tuesday, 9 November 2027 07.30 a.m. Analyst call Tuesday, 9 November 2027 11.00 a.m.