#1Gurit H1 2023 Results Media and Analyst Conference Mitja Schulz CEO Philippe Wirth CFO 16 August 2023 at 09:00 AM CET WITH PASSION FOR A SUSTAINABLE FUTURE Gurit#2Introductory statement This presentation may include forward-looking statements that reflect the intentions, beliefs or current expectations and projections of Gurit Holding AG about the future results of operations, financial condition, liquidity, performance and similar circumstances. Such statements are made on the basis of assumptions and expectations which may prove to be erroneous, although Gurit Holding AG believes them to be reasonable at this time. Gurit Gurit H1 2023 Results | 16/08/2023 | | 2#3Agenda 1 Business update 2 Financial results 3 Outlook 4 Organizational Update 5 Q&A session for Analysts & Journalists Gurit Gurit H1 2023 Results | 16/08/2023 | 3#4H1 2023 - Highlights Gurit Sales in CHFM 244.6 +17.6% 1) vs. H1 2022 Adj. operating profit margin 5.6% 2.0% in H1 2022 1) Sales of total continued operations @ constant FX Free cash flow in CHFM 6.5 -19.3m in H1 2022 Net debt in CHFM 78.0 104.2m in June 2022 Sales in line with expectations. Western Wind business with cautious signs of recovery, and solid Chinese wind business. Marine and other industrial markets continue growth trajectory. Improved adjusted operating profit margin, driven by product mix in Manufacturing Solutions, better operational performance in new sites and cost saving measures implemented. Recently acquired Structural Profile business still loss making. Free cash flow improved CHF 25.8m compared to first half of last year, driven by higher operating profit and stringent NWC management. Significantly de-leveraged balance sheet Gurit H1 2023 Results | 16/08/2023 | 4#5H1 2023: Wind ☐ ☐ ☐ - Western wind customers are ordering moulds again – Manufacturing Solutions is seeing a more sustainable customer mix PET market share increasing Gurit maintains a strong position in China Chennai plant has had a successful first year. PET & Kitting volumes on track, 1st mould shipped, ramped up Carbon Fiber pultrusion lines 60 Streamlined the European kitting manufacturing footprint (ES/TR) Gurit ☐ ☐ Launched innovative "Modular Mould" concept during JEC April 23 Structural Profiles is still loss making and was impacted by operational issues in Denmark and the delayed ramp up of our lead customer in India Continued restructuring at the Fiberline plant in Denmark to adjust costs to market needs Pultruded profiles and mould production in India Gurit H1 2023 Results | 16/08/2023 | 5#6Gurit Gurit acquires the remaining 40% share of Fiberline Agreement reached on Aug. 15th to acquire the remaining 40% from Thorning family. Purchase price of maximum EUR 28.15 million (cash deal and earn-out provision) Full integration of Structural Profiles will strengthen Gurit's position as solution provider Cost-optimisation of operations has been initiated with further plans in progress Starting to leverage synergies (global procurement, China sales) Extended the product portfolio of Structural profiles by strategically collaborating with Owens Corning, to jointly developing and sell High Modulus Glass pultruded profiles to the Wind industry CARBON PULTRUSION WIND TURBINE STRUCTURES BLADE ROOT REINFORCEMENTS Gurit H1 2023 Results | 16/08/2023 | 6#7H1 2023: Marine & Industrial ☐ ☐ ☐ Marine: Year on year growth, driven by continued strong market environment for production and pleasure boats as well as sailing yachts Strong operational execution and price management Business wins with new Marine customers in EU and NA Industrial sectors see growth in PET demand, especially for applications in construction and transportation Expertise in structural engineering supports customer transition to composites from other materials B AMER MERICAN Hydrogen chase boat Water pipes retrofit/repair with composite materials Gurit H1 2023 Results | 16/08/2023 | 7 Gurit#8Execution of ESG strategy on track Silver Medal Rating from EcoVadis (January 2023) SILVER 2023 ecovadis Sustainability Rating New A-Rating for ESG performance from MSCI (July 2023) MSCI ESG RATINGS Produced by MSCI ESG Research as of 07/2023 A Continued engagement with industry- wide sustainability initiatives: Gurit InRate Governance Rating improved +7% (2023 vs. 2022) inrate Developing & sharing of best practices across our sites: repOxyble BIO-BASED MULTIFUNCTIONAL EXCLABLE COMPOSITES Launch of REPOXYBLE project on bio-based plastics (EU Horizon 02/2023) Gurit Tianjin driving PET innovation Gurit H1 2023 Results | 16/08/2023 | 8#9H1 2023 Financial Results Philippe Wirth, CFO WITH PASSION FOR A SUSTAINABLE FUTURE Gurit#10Western wind market shows signs of recovery Materials MCHF 200 160 120 80 40 0 Gurit Group (continued operations) Kitting Man. Solutions +10.4% +5.1% MCHF MCHF 200 300 +21.0% MCHF 200 H2 H1 H2 H1 H2 H1 20 21 21 22 22 23 160 120 80 160 120 80 40 40 ။ 0 0 H2 H1 H2 20 21 21 22 22 23 H1 H2 H1 H2 H1 H2 H1 H2 H1 20 21 21 22 22 23 250 200 150 100 50 0 H1 H2 H1 H2 H1 H2 H1 20 20 21 21 22 22 23 +6.1% excluding Structural Profiles. ■ Structural Profiles negatively impacted by delayed orders in India ■ Increase in Europe and Americas Shift of sales from China to Europe and Americas +17.6% for continued operation ■ +8.6% excl. M&A All growth rates at constant exchange rates Gurit H1 2023 Results | 16/08/2023 | 10#11Operating results benefit from an improved market environment H1 CHF million 2023 H1 2022 Sales 244.6 234.8 ■ Growth 12.8% Gross profit 41.8 % of sales 17.1% 30.9 13.2% ■ EBITDA 20.3 % of sales 8.3% 28.1 12.0% Adj. operating 13.6 4.6 profit 5.6% 2.0% % of sales Gurit Sales increase (excl. M&A) 8.6% at constant exchange rates Tooling product mix CHF +7.9m Raw material and freight costs CHF +4.6m H1 2022 includes gain on sale of Aero CHF 18.3m Restructuring expense CHF 0.6m (2022: CHF 2.3m) ■ Excludes gain on sale of Aero (2022), restructuring and impairment charges Gurit H1 2023 Results | 16/08/2023 | 11#12Adjusted operating profit more than doubled MCHF '25 Gurit '20 '15 '10 4.6 '5 7.9 4.6 3.0 13.6 -6.5 '0 H1 2022 Volume and mix (Moulds) Material price decrease, net Savings from restructuring, other Acquisitions H1 2023 Gurit H1 2023 Results | 16/08/2023 | 12#13Cash flow management initiatives are bearing fruit Trade net working capital CAPEX Free cash flow Gurit 30% 250 30 23.5% 25% 22.4% 22.4% 21.1% 200 25 19.1% 20% 20 22 20 10 10 30 21.7 20 13.9 6.5 4.3 129.3 150 117.2 15% 110.5 104.8 107.2 13.8 15 0 100 11.2 11.8 10% 10 -10 6.7 5.5 50 5% 5 -20 -19.3 0% 0 0 -30 2019 2020 2021 2022 H1 2023 H1 19 H1 20 H121 H1 22 H1 23 H1 19 H1 20 H121 H1 22 H1 23 NWC (LTM) -in % of LTM net sales ■ Focus on NWC reduction is bearing fruit ■ Investments into India Improved EBITDA ■ Lower net working capital Gurit H1 2023 Results | 16/08/2023 | 13#14Strengthened balance sheet Gurit Jun Dec Jun CHF million 2023 2022 2022 Net Debt Change 78.0 -6.0 84.0 104.2 ■ Reduction in line with free cash flow Equity Ratio Change Gross Debt / EBITDA Change RONA¹) Change 33.8% 31.0% 34.0% Improvements in profits offset by currency +2.8%-pts 2.8x 2.8x 3.3x ☐ Borrowings reduced by CHF 21.1m since December. 4.7% -2.5% 10.8% +7.2%-pts ■ Benefits from an improved "legacy" business 1) Return on net assets: Operating profit less adjusted taxes / net operating assets (including goodwill) Gurit H1 2023 Results | 16/08/2023 | 14#15Outlook Mitja Schulz CEO WITH PASSION FOR A SUSTAINABLE FUTURE Gurit#16Wind Market Outlook 2023-2030 Gurit 1) Brinckmann: Global Wind Market Forecast H1 2023 33 == 60 AP (ex China) AM EMEA ☑ On&Off-shore 80 87 390 400 +6% 200 180 167 151 144 145 150 125 126 84 80 79 93 81 80 100 21 79 75 77 18 18 34 48 50 38 11 12 16 32 28 50 5 9 23 24 25: 163 17 58 19 15 19 24 23 29 30 32 40 46 0 2021a 2022a 2023e 2024e 2025e 2026e 2027e 2028e 2029e 2030e 2030e NZE2050 86 LO 2023/24 focus on recovery and industry earnings improvement, 2025 profitable growth and industry investment mode. ■ Short-term uncertainties remain with some customers announcing negative impacts related to quality issues. We anticipate further blade stock depletion since customers sit on sizeable inventories. Latest Offshore project cancelations in UK and US drive the need for more flexible auction- and pricing schemes to enable the long-term feasibility of wind projects ■ EU & NA: ASP's remain on higher avg. 23+24 expected to be on similar activity levels, before IRA impacts and Offshore growth kick in 25. New blade models will drive mould demand. ■ CN: Anticipate lower installation numbers this year (~55 - 60GW). Market remains highly competitive. Gurit sees growth potential with CN customers winning projects outside of Chinal Gurit H1 2023 Results | 16/08/2023 | 16#17Conclusion and Outlook Gurit Conclusion H1 sales within expected levels, positive Wind product mix and strong M&I business Initiated measures to improve profitability and cash deliver expected results Acquisition of remaining 40% shares in Fiberline Composites A/S to accelerate path towards profitability of the business Strategy execution on track Outlook ■ FY 2023 Net Sales: ☐ CHF 460-490 million (former outlook was CHF 450-510 million) Operating profit margin: between 3%-6% (former outlook was 2%-5%) Gurit H1 2023 Results | 16/08/2023 | 17#18Organizational change Board of Directors Chairman Rudolf Hadorn stepping down for personal reasons Gurit Rudolf Hadorn served Gurit for almost 16 years as CEO and member of the BoD. Philippe Royer is a member of Gurit's BoD since 2019. He was elected by the BoD as Chairman until the next Annual General Meeting in 2024. Gurit H1 2023 Results | 16/08/2023 | 18#19End of presentation Thank you for joining us today! Gurit Please use your dial-in credentials if you wish to join the Q&A session and ask questions. Contact: [email protected] +41 44 316 15 50 Next dates 18 October 2023 Q3 net sales media release ■ 31 January 2024 Preliminary FY 2023 sales media release ■ 4 March 2024 FY 2023 results media release at 07:00 Webcast for analysts / media at 09:00 CET Gurit H1 2023 Results | 16/08/2023 | 19#20Gurit Questions & Answers Gurit H1 2023 Results | 16/08/2023 | 20 20#21Thank you for your attention [email protected] www.gurit.com Gurit Gurit H1 2023 Results | 16/08/2023 | 21