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 Q4 & FY 2025 Financial Results Conference call | February 19, 2026 www.materialise.com | NASDAQ: MTLS | EURONEXT: 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,” “anticipate,” “project,” “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 • Q4 2025 Business Update • Q4 2025 Financial Highlights • Q4 & FY 2025 Financial Results • 2026 Financial Guidance • 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 A stronger foundation to support our global ambitions Materialise Rings the Bell at Euronext Brussels • Complement our >10 years on Nasdaq with a European listing, to strengthen our global reach • Expand our investor base, reflecting our commitment to both US and European investors • Enhance our operational flexibility, including the option to initiate ADS or share buyback programs • Started share buyback program up to 30 mEUR Strengthening our global impact in growth industries incl. healthcare, aerospace, and defense 4 Q4 2025 Business Update
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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 Q4 2025 Business Update Medical - bringing personalized care to a broader market • Historic milestone - 700,000+ personalized devices delivered • 70,000+ patients touched with Materialise personalized solutions in 2025 • New Mimics release introduces case-based pricing model Software - evolving our software, from a platform to an integrated ecosystem • Introduction of three tailored CO-AM solutions • Introduction of CO-AMX Brix to enable broader adoption of AM technologies “My favorite thing at Formnext 2025”, Joris Peels (3D print.com) Manufacturing - extending our expertise to high-growth, certified industries • Merger of iMaterialise with Onsite to support the professional 3D printing market • Progress in key verticals Aerospace and Defense: • Materialise joins Boeing in consortium to advance use of metal 3D-printed aircraft parts • Materialise to produce Environmental Control System (ECS) for Eurodrone 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 Q4 2025 – Financial Highlights • Revenue of 70.2 mEUR, representing an increase of 6.8% from Q4 2024 • Gross Profit of 40.8 mEUR, representing 58.1% of revenue • Adjusted EBIT of 4.0 mEUR, representing 5.7% of revenue • Net profit of 6.2 mEUR, representing 11 EUR-ct. per share • Net Cash position of 70.8 mEUR, representing an increase of 9.8 mEUR from year-end 2024 6
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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 Q4 & Full Year 2025 Consolidated Revenue • Quarterly revenue of 70.2 mEUR, representing an increase of 6.8% compared to Q4 2024. FY25 revenue remained stable while impacted by unfavorable forex impact. • Q4 revenue growth of 16% in our Medical segment, offset by continued macro-economic headwinds in our Manufacturing segment • 48.8 mEUR of deferred revenue from software licenses and maintenance carried on our balance sheet at the end of Q4 2025 16% 53% 31% Software Medical Manufacturing Q4 2025 Revenue by Segment 7 [Data in kEUR unless notes otherwise. All numbers and percentages rounded] Q4 2024 Q4 2025 65,680 70,164 FY 2024 FY 2025 266,765 267,633 +0.3% +6.8%
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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 Q4 & Full Year 2025 Consolidated Adjusted EBITDA & EBIT • Increased Adjusted EBIT(DA) in Q4 driven by revenue growth, higher gross margin and lower operating expenses (adj. for non-recurring events) • Over FY operational profitability increased despite stable revenue Adj. EBITAdj. EBITDA 8 [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Q4 2024 Q4 2025 -1,195 3,980 FY 2024 FY 2025 9,741 10,601 +8.8% Q4 2024 Q4 2025 4,306 9,524 +121.2% FY 2024 FY 2025 31,484 32,386 +2.9% 11.8% 12.1% 13,6% 6.6% 4.0%3.7% 5.7% -1.8%
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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 Q4 & Full Year 2025 Medical Segment • Q4 2025 revenue increased 16% to a record 37.0 mEUR • Revenue from medical devices & services increased 23%, driven by growth in both partner and direct sales • Revenue from medical software remained stable compared to a strong Q4 2024 and is further up from prior quarters • Q4 2025 Adjusted EBITDA grew to 13.0 mEUR, representing an Adjusted EBITDA margin of 35% 9 [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Revenue Adj. EBITDA Q4 2024 Q4 2025 31,837 37,016 FY 2024 FY 2025 116,358 134,239 +15.4% Q4 2024 Q4 2025 9,547 13,024 FY 2024 FY 2025 35,562 42,983 +20.9% 30.6% 32.0% 35.2% 30.0% +16.3% +36.4%
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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 Q4 & Full Year 2025 Software Segment • Q4 2025 revenue remained roughly stable at 11.0 mEUR compared to Q4 2024 • Recurring revenue represents 80% of generated revenue in Q4 (82% over FY 2025) • Q4 2025 Adjusted EBITDA increased by 52% to 1.7 mEUR, representing an Adjusted EBITDA margin of 16% 10 [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Revenue Adj. EBITDA Q4 2024 Q4 2025 11,124 10,974 -1.3% FY 2024 FY 2025 43,899 40,907 -6.8% Q4 2024 Q4 2025 1,123 1,701 +51.5% FY 2024 FY 2025 5,562 5,469 -1.7% 12.7% 13.4% 15.5% 10.1%
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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 Q4 & Full Year 2025 Manufacturing Segment • Q4 2025 revenue decreased by 2% to 22.2 mEUR compared to Q4 2024 • Growth in strategic markets & series manufacturing offset by continued decline in prototyping demand • Q4 2025 Adjusted EBITDA improved to (2.2) mEUR, representing an Adjusted EBITDA margin of (9.9)% 11 [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Revenue Adj. EBITDA Q4 2024 Q4 2025 22,719 22,174 -2.4% FY 2024 FY 2025 106,508 92,486 -13.2% Q4 2024 Q4 2025 -2,989 -2,199 FY 2024 FY 2025 1,660 -4,236 1.6% -4.6%-9.9% -13.2%
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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 Q4 Full Year (in thousands of euros, except where indicated) 2025 2024 2024 2024 Revenue 70,164 65,680 267,633 266,765 Cost of sales (29,373) (29,315) (114,684) (115,940) Gross profit 40,791 36,365 152,949 150,826 Research & development expenses (12,115) (12,099) (46,089) (44,400) Sales & marketing expenses (16,206) (16,490) (61,591) (61,620) General & administrative expenses (10,617) (10,402) (40,122) (39,597) Other income/(expenses), net 1,258 1,357 3,789 4,223 Operating profit/(loss) 3,111 (1,268) 8,936 9,432 Financial income/(expenses), net 2,400 3,301 (1,648) 4,707 Taxes 695 874 429 (733) Net profit/(loss) 6,206 2,907 7,716 13,406 Diluted EPS (in EUR) 0.11 0.05 0.13 0.23 (Diluted) weighted average shares (thousands) 59,077 59,148 59,072 59,105 12 Q4 2024 Q4 2025 FY 2024 FY 2025 55.4% 58.1% 56.5% 57.1% Gross profit margin (in %) Diluted EPS (in EUR) Q4 2024 Q4 2025 FY 2024 FY 2025 0.05 0.11 0.23 0.13 [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 (in thousands of euros, except where indicated) 12/31/25 12/31/24 Cash and equivalents 133,918 102,304 Borrowings 63,113 41,284 Net Cash 70,805 61,020 Trade receivables 54,938 53,052 Inventories 14,904 16,992 Trade payables 20,125 23,348 Deferred income 60,867 59,266 Equity 255,482 248,492 Total balance sheet 420,646 396,336 13 Cash flow from operations Capital expenditures (cash impact) [Data in kEUR unless noted otherwise. All numbers and percentages rounded] Q4 2024 Q4 2025 FY 2024 FY 2025 6,218 5,273 31,456 25,319 Q4 2024 Q4 2025 FY 2024 FY 2025 7,760 4,411 26,377 16,261
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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 2026 Financial Guidance • Projecting our 3 segments to evolve at a different pace • Anticipating macro-economic headwinds in industrial market segments to persist • Continued investments in R&D while maintaining disciplined cost control • Expect 2026 consolidated revenue within 273 - 283 mEUR range • Expect 2026 consolidated Adjusted EBIT within 10 - 12 mEUR range 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 Adjusted EBIT/EBITDA Reconciliation Appendix Q4 Full Year [Data in kEUR unless noted otherwise. All numbers and percentages rounded] 2025 2024 2025 2024 Net profit/(loss) 6,206 2,907 7,716 13,406 Income taxes (695) (874) (429) 733 Financial expenses (1,777) (1,113) 5,616 2,969 Financial income (623) (2,188) (3,968) (7,677) EBIT 3,111 (1,268) 8,936 9,432 Depreciation & amortization 5,544 5,501 21,785 21,742 EBITDA 8,655 4,234 30,721 31,175 Share-based compensation expense 74 72 266 285 Restructuring and corporate initiatives 795 - 1,400 - Acquisition related expenses of business combinations - - - 24 Adjusted EBITDA 9,524 4,306 32,386 31,484 Depreciation & amortization (5,544) (5,501) (21,785) (21,742) Adjusted EBIT 3,980 (1,195) 10,601 9,741 15
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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 16