#1A INVESTOR PRESENTATION ANDRITZ GROUP: A GLOBAL TECHNOLOGY LEADER JUNE 2023 ANDRITZ ENGINEERED SUCCESS#2AGENDA ACE THE 1 ANDRITZ AT A GLANCE 21 FINANCIALS 31 OUTLOOK A#3- NO CHALLENGE IS TOO BIG A PIONEER IN LARGE-SCALE TECH SOLUTIONS WORLDWIDE WHAT WE DO: Large-scale, state-of-the-art engineering and services solutions WHAT WE ACHIEVE: 3/ ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP Sustainable transformation of energy production Sustainable transformation of manufacturing A Empower the circular economy and drive the green transition#4ANDRITZ IN NUMBERS ANDRITL لا OVER 29,700 EMPLOYEES WORLDWIDE OVER 280 COMPANIES WORLDWIDE ANDR ENGINEERED OVER 40 COUNTRIES 4 / ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP A#5RECORD RESULTS IN 2022 ORDER INTAKE 9.3 billion EUR (2021: 7.9 billion EUR / +18%) REVENUE 7.5 billion EUR (2021: 6.5 billion EUR / +17%) 234 ORDER BACKLOG 10 billion EUR (2021: 8 billion EUR / +22%) NET LIQUIDITY 1 billion EUR (2021: 700 MEUR / +40%) 5 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP 4.72 69.1 NET INCOME 403 MEUR (2021: 322 MEUR / +25%) A 5.41 EBITA/EBITA MARGIN 649 MEUR / 8.6% (2021: 547 MEUR / 8.5%)#6WORLD MARKET LEADER WITH FOUR BUSINESS AREAS 47%* PULP & PAPER METALS HYDRO Pulp: #1 Paper: #3 * Share of total Group revenue 2022 # Global market position, estimated by ANDRITZ SCHULER 22%* Forming: #1 Processing: #1-2 6 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP #1-2 17%* SEPARATION A # 1-3 in sludge dewatering & drying 14%*#7A JOURNEY OF 170 YEARS FROM A FOUNDRY TO GLOBAL TECHNOLOGY LEADERSHIP A 1852 Established by Josef Körösi as a foundry and machine works 1922 Foundation of ANDRITZ apprentice workshop 1948 Expanded to big turbines (Escher-Wyss) OWNERSHIP 1852 Established by Josef Körösi MONES 1951 1997 2000 2001 2006 2013 2018 Start of ANDRITZ Pulp manufacturing China of complete founded technology (Ahlström ANDRITZ Brazil founded Hydropower (VA TECH Hydro) paper Machinery) Advanced metals technology (Schuler Fabrics and Rolls (Xerium Technologies) 2022 Battery production tech (Sovema) machines Group) 1900 1938-1949 1950 1987 Gutmann Group Expropriation Creditanstalt- Bankenverein AGIV AG 7 / ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP ANDRITZ SCILLER 10 1999 Financial investors and the Custos private foundation 2001 ― IPO Listing on the Vienna Stock Exchange 2003 Custos private foundation increased its stake to 30% Wolfgang Leitner former CEO of ANDRITZ SOVE113 500#8WE STRENGTHEN MARKET POSITIONS Acquisitions by business area since 2000 A PULP/PAPER METALS HYDRO A SEPARATION 2000 Ahlstrom Machinery 2011 AE&E Austria 2000 Kohler 2006 VA TECH HYDRO 2000 UMT 2000 Lamb Baling Line 2011 Iggesund Tools 2002 SELAS SAS Furnace Div. 2007 Tigép 2002 3SYS 2000 Voith Andritz Tissue 2011 Tristar Industries 2004 Kaiser 2008 GE Hydro business 2004 Bird Machine 2002 ABB Drying 2011 Asselin-Thibeau 2005 Lynson 2010 GEHI (JV) 2004 NETZSCH Filtration 2003 IDEAS Simulation 2012 AES 2008 Maerz 2010 Precision Machine 2004 Fluid Bed Systems 2003 Acutest Oy 2013 MeWa 2012 Bricmont 2010 Hammerfest Strøm 2005 Lenser Filtration 2003 Fiedler 2015 Euroslot 2012 Soutec 2010 Ritz 2006 CONTEC Decanter 2004 EMS (JV) 2016 SHW Casting Tech 2013 Schuler 2011 Hemicycle Controls 2009 Delkor Capital Equipment 2005 Cybermetrics 2017 Paperchine 2013 FBB Engineering 2018 HMI 2009 Frautech 2005 Universal Dynamics Group 2018 Novimpianti 2014 Herr-Voss Stamco 2023 Imagine That 2010 KMPT 2006 Küsters 2018 Diatec 2016 Yadon 2012 Gouda 2006 Carbona 2018 Xerium 2016 AWEBA 2013 Shende Machinery 2006 Pilão 2019 Kempulp 2017 Powerlase (80%) 2016 ANBO 2007 Bachofen + Meier 2020 Enviroburners 2018 Farina Presse 2007 Sindus 2021 Laroche 2018 ASKO 2008 Kufferath 2021 GE Steam Power 2022 Sovema Group 2009 Rollteck 2022 Bonetti Group 2010 2010 Rieter Perfojet DMT/Biax 2022 J. Parpala 2022 ĐURO ĐAKOVIĆ TEP 8 ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP#9OUR STRATEGY: LONG-TERM PROFITABLE GROWTH A 8 DECARBONIZATION DIGITALIZATION CUSTOMER SERVICE 9 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP LONG-TERM PROFITABLE GROWTH • Increased revenue • Increased profitability • Increased service share سا#10" WE CARE" - OUR ESG PROGRAM Sustainability is an integrated part of our corporate policy - we are committed to the SBTi to further reduce our greenhouse gas emissions by 2030 OUR FOCUS E - reduce our CO2 footprint, save resources and develop sustainable technologies S G - - ensure a safe and viable future for our employees pursue fair and ethical business practices 10 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP A#11WELL ON TRACK TO REACH OUR ESG GOALS Status end of 2022 x 50% ENVIRONMENT Share of revenue from sustainable solutions and products 45% * Reduction in water consumption 10% 3%* SOCIAL 30% Reduction in the annual 20% accident frequency rate (>1 day of absence) compared to the preceding year 10%* Share of women in the workforce A GOVERNANCE 85% Procurement volume covered by audited suppliers 82%* 0 No infringements, achieved by implementing the highest corporate compliance standards 50% Reduction in green- house gas emissions * 16.4% 0* 39%* 0 No event-driven profit 10% Reduction in waste 4.5% Fluctuation rate as a result of voluntary resignations volume 35%* * 6.0% warnings, achieved by detecting company risks at an early stage 0* 11 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP Status end of 2022#12REDEFINING THE FUTURE: UNLEASHING OUR INNOVATION ENGINE A 10 114 in 2022 for R&D MEUR * 392 New patent applications in 2022 T 6,742 Patent protection rights 12 ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP#13STRONG COMPETITIVE POSITION IN LONGTERM GROWING MARKETS • • • PULP & PAPER: market growth driven by demand for cellulosic fibers for packaging, hygiene and also textiles; sustainability goals of the pulp & paper industry urge investments in green solutions METALS: trends towards carbon-neutral production of steel, light-weight vehicles and e-mobility, green hydrogen HYDRO: hydropower as the largest renewable energy source gains increasing relevance for providing grid stability and storing large amounts of energy SEPARATION: e-mobility, waste valorization, biofuel and healthy nutrition (e.g. non-animal proteins) as long-term drivers 13 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP A#14AGENDA ACE THE 1 ANDRITZ AT A GLANCE 2 FINANCIALS 31 OUTLOOK A#15SERVICE BUSINESS IS CONTINUOUSLY GROWING STRONGER THAN CAPITAL BUSINESS Supports profitability and reduces fluctuation range A GROUP REVENUE Q1 2018 Q1 2023 (MEUR) CAGR Capital: +7% CAGR Service: +13% GROUP REVENUE 2018 - 2022 (MEUR) CAGR Capital: +4% CAGR Service: +9% 2,500 10,000 1,963 2,000 8,000 7,543 6,674 6,700 6,463 1,489 1,510 1,493 1,527 6,032 761 1,500 1,291 6,000 2,999 2,646 2,443 581 576 556 626 2,139 2,608 418 1,000 4,000 1,202 500 873 908 935 938 901 2,000 3,893 4,028 4,257 4,544 3,855 0 T 0 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 2018 2019 2020 2021 2022 ■Capital Service ■Capital Service 15 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP#16FAVORABLE DEVELOPMENT OF EBITA AND EBITA MARGIN REPORTED EBITA REPORTED (IN MEUR) CAGR: +13% 394 392 343 649 547 159 EBITA MARGIN REPORTED (IN %) 6.5 5.8 5.1 A 8.5 8.6 Group 8.1 Target: >8% 2018 2019 2020 2021 2022 Q1 2023 2018 2019 2020 2021 2022 Q1 2023 16 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP#17EBITA AND EBITA MARGIN ADJUSTED CONTINUED ITS STRONG UPWARD TREND EBITA ADJUSTED (IN MEUR) CAGR: +12% EBITA MARGIN ADJUSTED (IN %) A 8.5 8.5 8.2 644 Group Target: - >8% 550 6.9 6.8 7.0 456 471 415 2018 2019 2020 * EBITA (IN MEUR)/EBITA MARGIN (IN %) 160 2021 2022 Q1 2023 2018 2019 2020 2021 2022 Q1 2023 17 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP#18STABLE AND RECURRING SERVICE BUSINESS SUPPORTS PROFITABILITY (I) Service revenue in Q1 2023 and share of total revenue A ANDRITZ GROUP 61% (59%) PULP & PAPER METALS 24% (25%) 380 MEUR 42% 102 MEUR (Q1 22: (48%) (Q1 22: 58% 326 MEUR) 88 MEUR) 76% (52%) 39% (75%) Service revenue (41%) 761 MEUR (Q1 22: 626 MEUR) Service Capital HYDRO SEPARATION 140 MEUR 39% 139 MEUR (Q1 22: (40%) 51% (Q1 22: 49% 100 MEUR) 61% (52%) 111 MEUR) (48%) (60%) 18 / ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP ANDRITZ#19STABLE AND RECURRING SERVICE BUSINESS SUPPORTS PROFITABILITY (II) Service revenue in 2022 and share of total revenue A ANDRITZ GROUP 40% Service revenue 2,999 MEUR (40%) (2021: 2,608 MEUR) 60% (60%) Service Capital PULP & PAPER METALS 25% (25%) 1,535 MEUR 44% 409 MEUR 56% (2021: (44%) (2021: 1,292 MEUR) 348 MEUR) 75% (56%) (75%) 59% (58%) 19 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP HYDRO 540 MEUR 41% (2021: 489 MEUR) SEPARATION (42%) 54% (52%) 515 MEUR (2021: 46% 478 MEUR) (48%) ANDRITZ#20SOLID FINANCIAL POSITION Gross liquidity of ~2.0 billion euros, net liquidity at ~900 million euros Note: Since January 1, 2019, lease liabilities are excluded from the calculation of net liqudity; 2018 adjusted IN MEUR 2,350 Acquisition Xerium: 770 MEUR 2.051 1.974 1.838 1,850 1.719 1.610 1.280 1,350 983 907 850 703 421 245 350 -100 -150 2018 2019 2020 2021 2022 Q1 2023 Liquid funds -Net liquidity 20 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP A Strong increase in net liquidity of 1 bn EUR since 2018 Decline in net liquidity since end of 2022, mainly due to change in net working capital, however at a solid level of around 900 MEUR#21KEY FIGURES Q1 2023 AT A GLANCE UNIT Order intake MEUR Q1 2023 2,420.2 Q1 2022 +/- 2022 2,588.6 -6.5% 9,263.4 Order backlog (as of end of period) MEUR 10,407.8 9,435.1 +10.3% 9,976.5 Revenue MEUR 1,962.6 1,526.9 +28.5% 7,542.9 EBITDA MEUR 200.4 163.4 +22.6% 825.5 EBITDA margin % 10.2 10.7 10.9 EBITA MEUR 158.5 122.3 +29.6% 648.5 EBITA margin % 8.1 8.0 8.6 Earnings Before Interest and Taxes (EBIT) MEUR 146.0 106.3 Financial result MEUR -8.3 -10.7 +37.3% +22.4% 572.7 -31.8 Earnings Before Taxes (EBT) MEUR 137.7 95.6 +44.0% 540.9 Net income (including non-controlling interests) MEUR 102.5 70.2 +46.0% 402.6 Cash flow from operating activities MEUR -31.4 227.1 -113.8% 710.8 Capital expenditure MEUR 48.4 39.1 Liquid funds Net liquidity MEUR MEUR 1,974.1 906.8 1,962.9 Net working capital MEUR -136.8 902.9 -252.1 +23.8% +0.6% +0.4% +45.7% 184.4 2,051.1 983.0 -324.4 Employees (as of end of period; without apprentices) 29,670 27,108 +9.5% 29,094 21 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP Decrease in cash flow mainly due to change in net working capital A Increase in net working capital mainly due execution of large projects (PP, HY) and increase in inventory Employees +2,562 versus Q1 2022, thereof around 1,200 out of acquisitions#22PULP & PAPER: CONTINUED FAVORABLE BUSINESS DEVELOPMENT Strong increase in revenue and earnings; profitability slightly down A UNIT Q1 2023 Q1 2022 +/- 2022 Order intake MEUR 993.3 1,079.3 -8.0% 4,296.4 Order backlog (as of end of period) MEUR 4,279.5 3,836.0 +11.6% 4,207.8 Revenue MEUR 907.9 695.1 +30.6% 3,513.8 EBITDA MEUR 109.7 88.8 +23.5% 462.1 EBITDA margin % 12.1 12.8 13.2 EBITA MEUR 88.7 68.7 +29.1% 378.9 EBITA margin % 9.8 9.9 10.8 Employees (as of end of period; without apprentices) 13,891 11,955 +16.2% 13,525 • Order intake below high level of Q1 2022, which included a large pulp mill order from Asia; Service business increased order intake q/q 11.11 . Revenue significantly up q/q due to the good order intake development in the last quarters and years • Earnings strongly up q/q in line with revenue; profitability slightly down 22 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP ORDER INTAKE BY REGION Q1 2023 VS. Q1 2022 (%) Rest of World 35% (56%) O Europe/ North America 65% (44%) REVENUE BY REGION Q1 2023 VS. Q1 2022 (%) Rest of World 57% (50%) Europe/ North America 43% (50%)#23METALS: STRONG INCREASE IN ORDER INTAKE REVENUE Earnings significantly up q/q in line with revenue • • • AND A ORDER INTAKE BY REGION UNIT Q1 2023 Q1 2022 +/- 2022 Order intake MEUR 669.4 501.4 +33.5% 2,008.6 Order backlog (as of end of period) MEUR 2,167.8 1,704.8 +27.2% 1,938.1 Revenue MEUR 421.8 356.5 +18.3% 1,621.2 Rest of World 52% (27%) EBITDA MEUR 28.7 24.9 +15.3% 100.9 EBITDA margin % 6.8 7.0 6.2 EBITA MEUR 19.5 16.3 +19.6% 62.3 EBITA margin % 4.6 4.6 3.8 Employees (as of end of period; without apprentices) 6,166 6,019 +2.4% 6,085 Order intake sharply up q/q, mainly due to the Metals Forming sector (Schuler), which received a larger press line order from Asia; Metals Processing well above Q1 2022 level Significant increase in revenue q/q Earnings up q/q; profitability (reported) remained solid; increase in EBITA margin adjusted by extraordinary items 23 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP Q1 2023 VS. Q1 2022 (%) O Europe / North America 48% (73%) REVENUE BY REGION 2022 VS. 2021 (%) Rest of World 36% (34%) O Europe / North America 64% (66%)#24HYDRO: GOOD BUSINESS DEVELOPMENT Revenue and earnings favorably up q/q; solid margin A ORDER INTAKE BY REGION Q1 2023 VS. Q1 2022 (%) UNIT Q1 2023 Q1 2022 +/- 2022 Order intake MEUR 429.3 703.5 -39.0% 1,720.5 Order backlog (as of end of period) MEUR 2,963.6 2,987.4 Revenue MEUR 355.6 247.7 -0.8% +43.6% 2,878.4 1,313.0 Rest of World 44% (9%) EBITDA MEUR 28.1 22.5 +24.9% 107.7 EBITDA margin % 7.9 9.1 8.2 EBITA MEUR 21.3 14.9 +43.0% 72.3 EBITA margin % 6.0 6.0 5.5 Employees (as of end of period; without apprentices) 6,219 5,875 +5.9% 6,102 • Order intake significantly below Q1 2022 level, which included a large modernization contract in Mexico • Revenue strongly up q/q due to high order intake in previous year • Earnings increased significantly; profitability remained at solid level 24 ANDRITZ / INVESTOR PRESENTATION JUNE 2023 / ANDRITZ GROUP Europe / North America 56% (91%) REVENUE BY REGION Q1 2023 VS. Q1 2022 (%) Rest of World 41% (41%) Europe/ North America 59% (59%)#25SEPARATION: VERY FAVORABLE BUSINESS DEVELOPMENT Profitability increased q/q A ORDER INTAKE BY REGION Q1 2023 VS. Q1 2022 (%) UNIT Q1 2023 Q1 2022 +/- 2022 Order intake MEUR 328.2 304.4 +7.8% 1,237.9 Order backlog (as of end of period) MEUR 996.9 906.9 +9.9% 952.2 Revenue MEUR 277.3 227.6 +21.8% 1,094.9 Rest of World 47% (51%) EBITDA MEUR 33.9 27.2 +24.6% 154.8 EBITDA margin % 12.2 12.0 14.1 EBITA MEUR 29.0 22.4 +29.5% 135.0 EBITA margin % 10.5 9.8 12.3 Employees (as of end of period; without apprentices) 3,394 3,259 +4.1% 3,382 • Order intake up q/q; Both the solid/liquid separation and the pumps sector showed very good development; feed & biofuel sector with stable development Significant increase in revenue q/q as a result of the very good order intake development of the last quarters • Earnings and profitability at very favorable level 25 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP Europe / North America 53% (49%) REVENUE BY REGION Q1 2023 VS. Q1 2022 (%) O Europe / North America 55% (50%) Rest of World 45% (50%)#26AGENDA ACE THE 2 1 ANDRITZ AT A GLANCE FINANCIALS 3 OUTLOOK LAVES A#27GROUP ROADMAP 2022-2024 WELL ON TRACK GROUP TARGETS 2022-2024 STATUS 2022 Group business volume well above 7 billion EUR, Order intake: 9.3 billion EUR including M&A towards 8 billion EUR Revenue: 7.5 billion EUR EBITA margin at solid 8% Net income to increase to >5% Continue M&A strategy within existing business areas Reach ESG targets 27/ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP 8.6% 5.3% Ongoing Ongoing A 2025 2024 2023 2025#28ANDRITZ PURSUES A DIVIDEND POLICY TOWARDS CONTINUITY Goal is to distribute an average of 50%-60% of EPS A DIVIDEND PER SHARE (EUR) 1.50 1.55 1.55 1.35 1.00 0.50 2013 PAYOUT RATIO (%) 2.10 1.65 1.00 0.50 2014 2015 2016 2017 2018 2019 2020 2021 2022 78.1 70.5 60.1 49.0 51.9 55.8 39.4 48.1 50.3 50.7 50% threshold 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 28 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP#29MARKET OUTLOOK AND FINANCIAL GUIDANCE Financial guidance 2023 confirmed A MARKET OUTLOOK POT: rig 1X2 253 • Project and investment activity in all business areas is expected to continue at good levels Economic and geopolitical challenges are closely monitored • 49.65 FINANCIAL GUIDANCE FOR 2023 confirmed ANDRITZ expects to continue on its profitable growth in 2023 and anticipates an increase in both revenue and earnings compared to 2022 29 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP 95 12 54 20 789-51 193 8.904#30A INVESTOR PRESENTATION ANDRITZ GROUP: A GLOBAL TECHNOLOGY LEADER JUNE 2023 ANDRTZ ENGINEERED SUCCESS#31LEGAL DISCLAIMER O ANDRITZ AG 2023 This presentation contains valuable, proprietary property belonging to ANDRITZ AG or its affiliates ("the ANDRITZ GROUP"), and no licenses or other intellectual property rights are granted herein, nor shall the contents of this presentation form part of any sales contracts which may be concluded between the ANDRITZ GROUP companies and purchasers of any equipment and/or systems referenced herein. Please be aware that the ANDRITZ GROUP actively and aggressively enforces its intellectual property rights to the fullest extent of applicable law. Any information contained herein (other than publically available information) shall not be disclosed or reproduced, in whole or in part, electronically or in hard copy, to third parties. No information contained herein shall be used in any way either commercially or for any purpose other than internal viewing, reading, or evaluation of its contents by recipient and the ANDRITZ GROUP disclaims all liability arising from recipient's use or reliance upon such information. Title in and to all intellectual property rights embodied in this presentation, and all information contained therein, is and shall remain with the ANDRITZ GROUP. None of the information contained herein shall be construed as legal, tax, or investment advice, and private counsel, accountants, or other professional advisers should be consulted and relied upon for any such advice. All copyrightable text and graphics, the selection, arrangement, and presentation of all materials, and the overall design of this presentation are O ANDRITZ GROUP 2023. All rights reserved. No part of this information or materials may be reproduced, retransmitted, displayed, distributed, or modified without the prior written approval of Owner. All trademarks and other names, logos, and icons identifying Owner's goods and services are proprietary marks belonging to the ANDRITZ GROUP. If recipient is in doubt whether permission is needed for any type of use of the contents of this presentation, please contact the ANDRITZ GROUP at [email protected]. 31 ANDRITZ / INVESTOR PRESENTATION / JUNE 2023 / ANDRITZ GROUP A