Slides
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Financial Results Conference call | October 28, 2025 www.materialise.com | NASDAQ: MTLS
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Safe Harbor Summary 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations, plans, objectives, strategies and prospects, both financial and business, including statements concerning, among other things, our estimates for revenue, Adjusted EBITDA, Adjusted EBIT, our results of operations, cash needs, capital expenditures, expenses, financial condition, liquidity, prospects, growth and strategies (including how our business, results of operations and financial condition could be impacted by the current armed geopolitical conflicts around the world and governmental responses thereto, inflation, increased labor, energy and materials costs), policy changes resulting from the U.S. presidential administration, changes in tariffs and trade restrictions, and the trends and competition that may affect the markets, industry or us. Such statements are subject to known and unknown uncertainties and risks. When used in this presentation, the words “estimate,” “expect,” “antici p ate,” “proje ct,” “plan,” “intend,” “believe,” “forecast,” “will,” “may,” “could,” “might,” “aim,” “should,” and variations of such words or similar expressions are intended to identify forward-looking statements . These forward-looking statements are based upon the expectations of management under current assumptions at the time of this presentation. These expectations, beliefs and projections are expressed in good faith and the company believes there is a reasonable basis for them. However, the company cannot offer any assurance that our expectations, beliefs and projections will actually be achieved. By their nature, forward-looking statements involve risks and uncertainties because they relate to events, competitive dynamics and industry change, and depend on economic circumstances that may or may not occur in the future or may occur on longer or shorter timelines than anticipated. We caution you that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. All of the forward-looking statements are subject to risks and uncertainties that may cause the company's actual results to differ materially from our expectations, including risk factors described in the company's annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. There are a number of risks and uncertainties that could cause the company's actual results to differ materially from the forward-looking statements contained in this presentation. This presentation includes non-IFRS financial measures, including EBIT, EBITDA, Adjusted EBIT and Adjusted EBITDA. These measures are supplemental measures of financial performance that are not required by, or presented in accordance with, international financial reporting standards (“IFRS”). Please refer to the Appendix of this presentation for a reconciliation of such non-IFRS financial measures to the most directly comparable financial measures prepared in accordance with IFRS.
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours • Q3 2025 Business Highlights • Q3 2025 Financial Highlights • Q3 2025 Financial Results • 2025 Financial Guidance Update • Q&A Agenda Koen Berges CFO Brigitte de Vet-Veithen CEO 3
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 - Business Highlights 4 Medical: Scaling up to reach more patients • Next steps in cardiac with extended planning solutions and clinical evidence • Release of Mimics Enlight CMF 7.0 for reconstruction and trauma Software: Progress to establish CO-AM as the ecosystem for all AM operations • Powerful build preparation and execution on the back of Magics SDKs and next generation Build Processors • Low code enabling environment to make capablities more accessible Manufacturing: Further execution of our strategy amidst market headwinds • Huge & heavy segment and small series production with ACTech • Positive engagement in the defense industry
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 – Financial Highlights • Revenue of 66.3 mEUR, representing a decrease of 3.5% from a strong Q3 2024 • Gross Profit of 37.7 mEUR, representing 56.8% of revenue • Adjusted EBIT of 2.9 mEUR, representing 4.4% of revenue • Net profit of 1.8 mEUR, representing 3 EUR-ct. per share • Reported Net Cash position of 67.7 mEUR, representing an increase of 6.7 mEUR from year-end 2024 5
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Consolidated Revenue • Revenue of 66.3 mEUR, representing a decrease of 3.5% compared to Q3 2024 but up 2.2% versus Q2 2025 • Consistent double-digit revenue growth in our Medical segment. Macro-economic headwinds continued to impact revenue generation in our Manufacturing and Software segments • 45.3 mEUR of deferred revenue from software licenses and maintenance carried on our balance sheet at the end of Q3 2025 Q3 2024 Q3 2025 68,652 66,259 -3.5% 16% 50% 34% Software Medical Manufacturing Q3 2025 Revenue by Segment 6 [Data in kEUR unless notes otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Consolidated Adjusted EBIT & EBITDA • Q3 2025 Adjusted EBIT decreased by 34% to 2.9 mEUR compared to Q3 2024 • Q3 2025 Adjusted EBITDA decreased by 15% to 8.4 mEUR compared to Q3 2024 Q3 2024 Q3 2025 4,408 2,918 -33.8% 4.4% 6.4% Adj. EBIT Q3 2024 Q3 2025 9,895 8,428 -14.8% 12.7% 14.4% Adj. EBITDA 7 [Data in kEUR unless notes otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Medical Segment • Q3 2025 revenue increased 10.3% to 33.3 mEUR compared to Q3 2024 • Revenue from medical software grew 6% • Revenue from medical devices & services increased 12%, driven by growth in both partner and direct sales • Q3 2025 Adjusted EBITDA grew to 10.2 mEUR, representing an Adjusted EBITDA margin of 31% Q3 2024 Q3 2025 30,197 33,296 +10.3% Q3 2024 Q3 2025 9,895 10,199 +3.1% 32.8% 30.6% Revenue Adj. EBITDA 8 [Data in kEUR unless notes otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Software Segment • Q3 2025 revenue decreased by 7% to 10.3 mEUR compared to Q3 2024 partly due to unfavorable forex impacts • 83% recurring revenue generated in Q3 2025 • Q3 2025 Adjusted EBITDA at 1.8 mEUR, representing a stable Adjusted EBITDA margin of 18% Q3 2024 Q3 2025 11,111 10,286 -7.4% Q3 2024 Q3 2025 1,975 1,801 -8.8% 17.8% 17.5% Revenue Adj. EBITDA [Data in kEUR unless notes otherwise. All numbers and percentages rounded] 9
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Q3 2025 Manufacturing Segment Q3 2024 Q3 2025 27,344 22,677 -17.1% 701 (845) Q3 2024 Q3 2025 2.6% -3.7% • Segment revenue decreased by 17% to 22.7 mEUR compared to Q3 2024 • Growth in certified manufacturing offset by declining prototyping demand • ACTech reported growth in EU and APAC markets, with the US market remaining weak • Q3 2025 Adjusted EBITDA decreased to (0.8) mEUR, representing an Adjusted EBITDA margin of (3.7)% Revenue Adj. EBITDA 10 [Data in kEUR unless notes otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Income Statement Highlights Q3 2025 Q3 2024 Revenue 66,259 68,652 Cost of sales (28,608) (29,355) Gross profit 37,651 39,297 Research & development expenses (11,439) (10,979) Sales & marketing expenses (14,847) (14,896) General & administrative expenses (9,733) (9,981) Other income/(expenses), net 890 872 Operating profit/(loss) 2,522 4,313 Financial income/(expenses), net (121) (1,137) Taxes (553) (138) Net profit/(loss) 1,848 3,038 Diluted EPS (in EUR) 0.03 0.05 (Diluted) weighted average shares (thousands) 59,071 59,067 11 Q3 2024 Q3 2025 57.2% 56.8% Gross profit margin (in %) Diluted EPS (in EUR) Q3 2024 Q3 2025 0.05 0.03 [Data in kEUR unless noted otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Other Financial Highlights Balance Sheet items 09/30/25 12/31/24 Cash and equivalents 132,022 102,304 Borrowings 64,278 41,284 Net Cash 67,744 61,020 Trade receivables 44,894 53,052 Inventories 15,678 16,992 Trade payables 18,858 23,348 Deferred income 58,341 59,266 Equity 251,369 248,492 Total balance sheet 415,513 396,336 12 Q3 2024 Q3 2025 6,870 10,359 Cash flow from operations Capital expenditures (cash impact) Q3 2024 Q3 2025 7,328 5,288 [Data in kEUR unless noted otherwise. All numbers and percentages rounded]
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours 2025 Financial Guidance Update Maintaining prior guidance on revenue and Adjusted EBIT • Expect 2025 consolidated revenue within 265 - 280 mEUR range • Expect 2025 consolidated Adjusted EBIT within 6 - 10 mEUR range 13
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Adjusted EBIT/Adjusted EBITDA Reconciliation Appendix [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Q3 2025 Q3 2024 Net profit/(loss) 1,848 3,038 Income taxes 553 138 Financial expenses 582 1,843 Financial income (460) (706) EBIT 2,522 4,313 Depreciation & amortization 5,509 5,487 EBITDA 8,031 9,800 Share-based compensation expense 74 71 Restructuring and corporate initiatives 322 - Acquisition-related expenses of business combinations - 24 Adjusted EBITDA 8,428 9,895 Depreciation & amortization (5,509) (5,487) Adjusted EBIT 2,918 4,408 14
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#0058a5 #00b1ea #f0b323#0084c8 Titel : Arial Bold Sub titel: Arial regular Text: Arial regular Colors Font Useful Tools: Add image Add video Right mouse click: Send or bring your image or shape to the front/back Home -> Arrange: Align objects Click on the graph: Click on the tab -> Change colours Thank You Contact: Investor Relations Materialise investors@materialise.com 15