#1ærlikon Investing in a global industry leader with profitable growth and a transforming portfolio Investor Presentation October 2020 cerlikon LOX#2Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 5 Appendix Page 2 Oerlikon Investor Presentation October 2020 ærlikon#3Oerlikon's investment proposition ærlikon A UNIQUE PROPOSITION... Oerlikon creates innovative surface solutions, advanced materials and polymer processing, addressing customers' challenges and helping them succeed in their industries. Over 1000 engineers are dedicated to continuously develop new solutions, materials and technologies with and for our customers. Oerlikon is a leading global technology and engineering group serving its customers in 37 countries, generating CHF 2.59bn sales (FY 2019) and distributing a sustainable dividend to its shareholders. Oerlikon has a net cash position and an unleveraged balance sheet allowing for organic and inorganic investments WITH TWO ATTRACTIVE INVESTMENT PILLARS 1 PROFITABLE GROWTH 2 PORTFOLIO TRANSFORMATION OPPORTUNITY Page 3 Oerlikon Investor Presentation October 2020#4Enable organic growth at attractive margins in Surface Solutions 1 PROFITABLE GROWTH ærlikon Mid-term aspiration: 4-6% revenue CAGR with sustainable EBITDA margin profile of 21-23%* Leader with unique competences Attractive end markets Build on trusted customer relations Technological leadership & innovation Proven and diversified business model with global network #1 and #2 market positions Diversified industry exposure - ~2-3% premium to global GDP >30 000 customers >40 R&D sites & >50 global partnerships >60% service revenue 166 sites in 37 countries Presence across entire surface solutions value chain ■ Dedicated business models to match customer needs ■ Aviation, automotive, tooling, power generation, general industry ☐ Global OEMs and tier 1 clients in all end markets Top 10 customers: ~18% of sales ☐ Widest ranging portfolio of surface technologies, advanced materials, coating equipment and services Client-facing model offering engineering, coating services and solutions in materials & equipment ADDITIONAL GROWTH OPPORTUNITY: ONGOING RECOVERY IN LEADING MANMADE FIBERS SEGMENT 1 excl. investments in Additive Manufacturing; incl. impacts from IFRS 16 Page 4 Oerlikon Investor Presentation October 2020#5Oerlikon's strategic portfolio priorities 2 PORTFOLIO TRANSFORMATION OPPORTUNITY cerlikon ☐ ærlikon CHF 2 593 million sales (2019) Surface Solutions Segment CHF 1 488 million World market leader with widest ranging portfolio of surface technologies, advanced materials, coating equipment and services Manmade Fibers Segment CHF 1 106 million From melt to yarn, fibers and nonwovens - world market leader for systems / plants used in the production of manmade fibers Creating a global surface solutions and advanced materials powerhouse Manage market cycle B Organic investments: innovation, markets, applications and technologies Execution of capacity increase on a variable basis to capture opportunities from recovery ☐ Maintain technology and market leadership Additive Manufacturing ☐ Factory 4.0 (Automation) ■ M&A REDEPLOY CASH AND BALANCE SHEET IN PROFITABLE GROWTH Page 5 Oerlikon Investor Presentation October 2020#6Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 5 Appendix Page 6 Oerlikon Investor Presentation October 2020 ærlikon#7Attractive end market exposure Diversified exposure to early and late cycle markets Solving customer problems at center of value proposition cerlikon#8Diversified industry exposure - Delivering customer value by delivering unique functionality to surfaces CUSTOMER VALUE Oerlikon's surface solutions are used to enhance material and surface properties to serve a diverse array of functions to address industry challenges. Separating form and function and giving a purpose to the surface With Oerlikons capabilities in engineering, material processing and surface solutions we enhance performance of industrial components and empower customers do to things they could not do before Advancing industrial innovation AEROSPACE 5% overall efficiency increase in engine at improved safety 2-4% AUTOMOTIVE Reduced fuel consumption ærlikon up to 40% Friction reduction 2.5x TOOLING increased drilling speed ~67% tool lifetime extension POWER GENERATION 2% overall efficiency increase at a 530MW gas turbine GENERAL INDUSTRY Coatings can prolong the service life by a factor of up to 50 Page 8 Oerlikon Investor Presentation October 2020#9ærlikon Leading Technologies#10Oerlikon builds on a leading, wide-ranging portfolio of surface technologies ærlikon 0.02-2 mm 0.2-20 um 10-500 μm Bulk treatment Plasma nitriding PVD and PACVD based coating Thermal spraying (e-splasma spraying environmental protection Comprehensive surface functionalities Oerlikon offers > 20 different surface properties Page 10 chemical stability corrosion protection hardness anti-sticking antibacterial Oerlikon Investor Presentation October 2020 Laser elading 05-20 mm. strength abrasion protection conduction control decorative enhancement color flexibility bio-compatibility permeability control thermal stability magnetism control NITRIDING ■ Nitriding involves ionizing a nitrogen- hydrogen gas mixture in a vacuum PVD and PACVD/CVD ■ PVD is a vacuum deposition method, where a highly pure, solid coating material goes from a condensed state to vapor and then back to a thin-film condensed state PACVD and CVD are processes used to deposit thin films from a gas state (vapor) to a solid state on a substrate; Chemical reactions are involved in the process, which occur after the creation of a plasma of the reacting gases THERMAL SPRAYING ■ Powder or wire is melted at high temperatures and the materials are then sprayed onto a surface LASER CLADDING Laser cladding is a method of depositing material in which a powdered or wire feedstock material is melted and consolidated by use of a laser in order to coat part of a substrate thermal protection clearance control easy cleaning insulation control safety anti-reflection wear resistance erosion protection#11Diversified business model serving customer needs Range of ways to market across service, equipment and materials Continued focus on technological leadership to foster market leading positions ærlikon 100%#12Business model - Matching customer challenges with standard and customized solutions ærlikon Materials solutions ■ Powders and consumables used in thermal spray Large formula portfolio in specialty & commodity products Equipment solutions Engineered thermal spray & coating systems Spray guns ■ Sales through key accounts and channel partners Service solutions Providing engineering, surface coatings and pre-and post- treatment as a service ■ Global network of 152 centers Spray gun System USP in application know-how of equipment and material Pickup/ delivery Pre- treatment Coating 24-48 hrs from pickup at customer site to reshipment USP in proximity to customers Packaging/ shipping ☐ Oerlikon's IP sits in the specific process know-how and materials competence Client relations have an R&D to R&D character • Logistics competence (fast delivery times) ■ Long-lasting client relationships due to design-in and certification processes " Network scaling effects Flexible, low investment to further expand existing sites and network High level of recurring customer demand for materials, equipment and consumables ☐ Supporting customers throughout life-cycle Competitors Materials HC Stark, Praxair, Höganäs Page 12 Competitors Equipment Praxair, Progressive Surface, GTV Oerlikon Investor Presentation October 2020 Competitors Service lonbond (IHI), Eifeler, Praxair, Chromalloy#13Business model - Leading positions and priorities Service Equipment Material FY 19 Revenue & market position CHF 0.63bn revenue >30% market share in materials (Aero & Defense) ~20% market share in materials (Power Generation) Revenue CAGR 2015-19 +8% Strategic priorities ærlikon Expand materials portfolio & reduce time to market (Scoperta acquisition) Increase penetration of new thermal spray coating system after successful launch >40% market share in equipment (Aero & Defense) +4% Increase tailored solutions approach in materials and equipment ~35% market share in equipment (Power Generation) CHF 0.86bn revenue ~30% PVD market share (#1) ~40% friction systems market share (#1) ~15% nitriding market share (#1) Page 13 Oerlikon Investor Presentation October 2020 +4% Strengthen #1 position by expanding network, application and product range Accelerate service growth / leverage current momentum#14Business model - Global coating center network +1.6% +3.1% +2.3% +7.5% +5.2% +7.0% GDP* OERL Regional GDP growth versus Surface Solutions growth 2015-19 1 Source: IMF; average 2015-2019 Page 14 Oerlikon Investor Presentation October 2020 ærlikon 157 SERVICE CENTER FOR GROWTH " Diversified regional exposure allows servicing of global and local customers Ongoing network expansion aligned to customer demand and regional dynamics ■ Asset light capacity expansion through both additional on-site capacity and new centers Outperform growth in all regions GLOBAL NETWORK - DIVERSIFIED SALES Europe 4% North America 32% Asia/Pacific Sales FY 19 46% RoW 18%#15Driving profitable growth. Levers of growth in customer alignment, innovation, regional expansion and M&A Additive Manufacturing as adjacent structural growth opportunity ærlikon#16Three drivers of profitable growth 1. MID-TERM MARKET GROWTH 2. OERLIKON STRUCTURAL GROWTH 3. M&A OPPORTUNITIES ■ ■ ■ ærlikon Unlevered balance sheet Net cash position of CHF 400m Continued FCF generation End market exposure to growing markets Aero +4-5% Automotive ~+2% Tooling ~+3% Power Gen +2-3% Gen. industry ~+3% 1 excl. investments in Additive Manufacturing; incl. impacts from IFRS 16 Page 16 Oerlikon Investor Presentation Oerlikon has the ability to outgrow end market trends Customer alignment Innovation Regional expansion Value chain Additive Manufacturing Targeted EBITDA margin profile of 21-23%* October 2020 Supporting structural growth with acquisitions Access new customers & industries New & adjacent tech. & materials Geographical expansion Value chain integration Thermal spray service business#17Structural growth drivers in detail Customer alignment Leverage existing customer relationships and industry expertise Innovation Leverage leading technological capabilities Regional expansion Expand and leverage network Value chain ▶ Expand value added offering Page 17 Oerlikon Investor Presentation October 2020 AERO AUTO GROUP TOOL CUSTOMER POWER " Achievements (Examples) " Building a client facing structure along industries Alignment in sales and management structure Moving to more key account management ærlikon Potentials " Identify and address untapped markets and applications Top-Selling 2010 introduction special carbides for aero applications 5 year qualification period with leading OEMs 50% increase year-over-year achieved over 2 year period Follow development of new industrial poles (SEA), i.e. Malaysia, Philippines, South Korea Today 47 centers in Asia (24 in 2010 and 12 in 2005) Innovation pipeline for coating solutions, materials and equipment 8 focus countries defined 3-4 new coating centers p.a. 10x 1x 2013 2017 呼 2013 acquisition of Rox regrinding technology - an important backward integration step in recoating tools Today, Rox systems in >15 centers established Grew revenue 10x since acquisition Expansion into additional pre- and post treatment activities Increasing service value per tool/component#18From surface to structure - Leveraging Oerlikon's core competencies to scale the entire AM value chain LEVERAGING LEADING CAPABILITIES OF SURFACE SOLUTIONS IN AM OFFERING: 1. 2. 3. 4. AM-specific metal powders including, Ni, Co, Cu, Fe, Ti & Al alloys Application engineering and R&D to support customer's AM development Prototype production metal and plastic Series production of advanced metallic components using AM and state of the art post-processing technologies HELPING OUR CUSTOMERS REALIZE THE VALUE OF ADDITIVE MANUFACTURING ærlikon DELIVERING ADVANCED MATERIALS & COMPONENTS GLOBALLY AM Powder Production Plymouth & Troy (USA) Advanced Component Production Innovation & Advanced Component Production Atlanta & Charlotte (USA) Magdeburg (Germany) Innovation & Technology Center Munich (Germany) Additive Production AM Equipment Inspection & Quality Applications Engineering Testing & Assembly Post-Processing Atomization & Materials Page 18 Oerlikon Investor Presentation October 2020#19Divestitures Acquisitions Oerlikon Transformation - Streamlining the portfolio and focus on Surface Solutions ærlikon ærlikon ærlikon æerlikon ærlikon ærlikon æerlikon am barmag neumag nonwoven balzers metco Coating Segment: Coating Segment: Rox Metco Surface Solutions Segment: Laser Cladding Services Surface Solutions Segment: Citim, DMX Surface Solutions Segment: Recentis, Scoperta, Surface Solutions Segment: Eicker, DiSanto Technology, Primateria, DIARC Technology, DiaPac Sucotec Manmade Fibers Segment: Trützschler Nonwovens Manmade Fibers Segment: AC Automation Manmade Fibers Segment: Teknoweb Materials 2013 2014 2015 2016 2017 2018 2019 2020 æerlikon solar Solar Segment: Segment sold ærlikon saurer ærlikon ærlikon schlafhorst textile components Textile Segment: Natural fibers businesses sold Page 19 Oerlikon Investor Presentation October 2020 æerlikon systems Advanced Technologies Segment: Segment sold ærlikon leybold vacuum Vacuum Segment: Segment sold ærlikon graziano cerlikon fairfield Drive Systems Segment: Segment sold Surface Solutions Segment: TeroLab Surface, AMT, D-Coat Total proceeds from divestments CHF 1.8BN ærlikon Total investments CHF 1.2BN#20Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 5 Appendix Page 20 Oerlikon Investor Presentation October 2020 ærlikon#21Manmade Fibers - Supplying Industry Solutions from Melt to Yarn, Fibers and Nonwovens #1 IN CONCENTRATED MARKET ■ The polyester chain is quite consolidated on both the customer and competitor front - largest competitor is Japanese TMT Machinery ■ 25 companies represent over 60% of global manmade fibers capacity - 22 of which are Oerlikon customers FOCUS ON CYCLE MANAGEMENT ■ Current market improvement driven by market consolidation, performance and technology upgrades - ahead of 13th Chinese five-year plan ■ Lean in terms of vertical integration and corporate setup " Through cycle target of average: CHF750m to CHF850m sales (peak up to CHF 1.1bn) Mid-teens EBITDA margin Textile Applications (~76% of sales) Filament (POY, FDY) and Texturing (DTY) UNIQUE CUSTOMER BENEFITS FOR MANMADE FIBER APPLICATIONS " Long-term engineering competencies ensure highly reliable processes Compact machine design an efficient use of space including control elements embracing Industry 4.0 ■Continuous improvement in energy efficiency achieving energy savings of up to 50% ■ Low production cost (labor, downtime and maintenance cycles) High-quality output 43% of FY19 Group revenue ærlikon Maintaining high level of topline until 2022 with improving margin USP Leading technology from melt to Special Filament (~11% of sales) BCF, IDY and Extrusion & Recycling Plant engineering (~13% of sales) Continuous Polymerisation, Staple Fiber and Nonwoven yarn, fibers and nonwovens Page 21 Oerlikon Investor Presentation October 2020 >10% Share of customer service including spare parts, installation, training and surface / material testing KEY FACTS#22Page 22 CRUDE OIL naphtha Oerlikon in the middle of the polyester value chain naphtha ENERGY AND UPSTREAM PETROCHEMICALS PTA PLANT REFINERY ethylene px MEG PLANT AROMATICS PLANT STEAM CRACKER POLYESTER CHAIN SPINNING PLANT polyester melt POLYMER PROCESSING (POLYCONDENSATION) PX = paraxylene; PTA = purified terephthalic acid; MEG = monoethylene glycol; PET = polyethylene terephthalate. Oerlikon Investor Presentation October 2020 polyester melt Oerlikon focus POLYESTER YARN ærlikon END MARKETS textile processing APPAREL HOME TEXTILES TECHNICAL TEXTILES POLYESTER CHIPS PET-PACKAGING#23- Customer example – Engineered Plant Solutions as One-Stop Service FROM MELT ... 130 m DAILY OUTPUT: 40 000 BOBBINS (15 KG EACH) 600 TONS PER DAY 180 m 50 m 250 m TO TEXTURED YARN 120 x DTY HQ 576 machines 30 m 1.800 m Page 23 Oerlikon Investor Presentation October 2020 ærlikon TO FIBERS 80 m 3 X 225 TONS PER DAY 2.700 staple fiber bales of 250 kg each 24x 45 m 90 m#24Competitive landscape Market share by application Textile Applications # 1 position 45-50 % market share Oerlikon Manmade Fibers TMT Machinery Others Page 24 Oerlikon Investor Presentation October 2020 ærlikon Special Filament Plant Engineering #1 position 70-80% market share Gain market share in fragmented applications 10-20 % market share#25Extend the core business, develop solutions and improve customers services for growth ærlikon Industrie 4.0 / Digitization Products and Engineering (incl. Recycling) Customer Services Automation Page 25 Oerlikon Investor Presentation October 2020 Corporate Social Responsibility (e-save) Yarn / Material#26Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 5 Appendix Page 26 Oerlikon Investor Presentation October 2020 ærlikon#27Oerlikon Group - Key financial figures in CHF million Key financial figures ærlikon 2019 2018 2017 2016 2015 Order intake¹ 2'590 2'731 2'211 2'413 2'537 Sales (3rd parties) 1 2'593 2'609 2'068 2'331 2'671 EBITDA margin 1, 2 14.1 %7 15.6 % 15.6 % 14.3 % 12.7 % Cash flow from operations³ 322 429 404 293 289 Net working capital 70 -79 167 316 391 R&D1, 6 122 116 95 94 103 Total equity 1'769 2'021 1'989 1'840 1'572 Net cash4 ROCE EPS (reported) Dividend 333 398 499 401 79 7.0% 12.1 % 8.2 % 5.7 % -19.8 % -0.21 1.005 0.71 1.005 0.44 1.14 -1.24 0.35 0.30 0.30 12019 continuing operations, 2018, 2017, 2016, 2015 as reported 2 2019 includes one-time effects of CHF -25 million (restructuring expenses of CHF -19 million and other expenses of CHF -6 million) and 2015 includes one-time effects of CHF -112 million (restructuring) 3 Before changes in net current assets 4 Net cash includes cash and cash equivalents and marketable securities less current and non-current debt 5 Total dividend of CHF 1.00 consists of stable ordinary dividend of CHF 0.35 and extraordinary dividend of CHF 0.65 6 Research and development expenditure includes expense recognized as intangible assets 7 Underlying adjusted EBITDA margin of 15.1 % includes one-time effects of CHF -25 million (see footnote 2) Page 27 Oerlikon Investor Presentation October 2020#28Oerlikon Segments - Key financial figures in CHF million Key financial figures Surface Solutions Order intake ærlikon 2019 2018 2017 2016 2015 1'468 1'574 1'412 1'236 1'233 Sales (3rd parties) 1'488 1'511 1'370 1'238 1'229 EBITDA margin 15.6 %1 18.6 % 20.1 % 22.2% 21.4 % Net operating assets 1'771 1'584 1'519 1'372 1'325 Manmade Fibers Order intake 1'122 1'157 799 577 733 Sales (3rd parties) 1'106 1'098 698 481 794 EBITDA margin 13.0 % 11.7 % 8.0 % 3.3 % 10.6 %² Net operating assets 30 -59 69 163 225 1 Including CHF -13 million exceptional expenses; underlying adjusted EBITDA margin of 16.6 % 2 Incl. one-time restructuring cost (CHF -43 million) Page 28 Oerlikon Investor Presentation October 2020#29Net income impacted by non-cash effects¹ from divestment of Drive Systems - tax rate improved in CHF million FY 2019 Order intake Sales EBITDA in % of sales Result before interest and taxes (EBIT) in % of sales Financial result Result before taxes (EBT) in % of sales Income taxes in % of EBT Result from continuing operations in % of sales Result from discontinued operations Net income ærlikon FY 2018 2'590 2'731 -5.2 % 2'593 2'609 -0.6 % 366 14.1 % 406 15.6% 9.9 % 164 243 -32.5 % 6.2% 9.3 % -15 -3 >100 % 149 240 -37.9 % 5.7 % 9.2% -39 -68 -42.6 % 26.2 % 28.3 % 110 173 -36.4 % 4.2 % 6.6 % -176 -66 73 >100 % 245 >100 % 1 Impacted by reclassification of CHF 284 million (non-cash) cumulative translation differences and other items from other comprehensive income related to the divestment of Drives Systems Segment Page 29 Oerlikon Investor Presentation October 2020#30Strong unleveraged balance sheet with an equity ratio of 49 % ærlikon in CHF million Cash and cash equivalents Trade and trade notes receivables Inventories Property, plant and equipment Goodwill and intangible assets Assets classified as held for sale Total other assets Total assets Trade payables Current contract liabilities 2019 2018 658 764 309 305 338 343 634 667 1'117 1'139 866 591 461 3'647 4'545 264 277 313 450 Non-current lease liabilities 178 39 Non-current loans and borrowings 154 155 Non-current post-employment benefit liabilities 347 329 Liabilities classified as held for sale 363 Total other liabilities Total liabilities Total equity Total equity ratio Net cash 622 911 1'878 2'524 1'769 2'021 49 % 44 % 333 398 Page 30 Oerlikon Investor Presentation October 2020#31CapEx to depreciation ratio exceeding target corridor for future growth - converging towards corridor to continue CapEx ærlikon Depreciation & amortization¹ CapEx / depr. & amort. ratio In CHF million In CHF million -27% 66 48 1H19 1H20 63 1H19 0% 1.8 63 1.6 1.71 1.47 1.42 1.4 1.41.44 1.16 1.2 1.09 1.01 1.0 0.76 0.8 0.6 0.4 0.2 0.0 1H20 FY FY FY FY FY FY FY FY 1H 2012 2013 2014 2015 2016 2017 2018 2019 2020 Surface Solutions Segment ratio of 1.34 - investments in capacity / footprint expansion while investments in Additive Manufacturing substantially reduced (CHF 10 m CapEx) Manmade Fibers Segment ratio of 1.65 as a result of relatively higher capex in 2019 in an asset light business with low level of D&A 1 Depreciation & amortization excluding amortization of acquired intangible assets and depreciation related to right of use assets under IFRS16 (leasing) Page 31 Oerlikon Investor Presentation October 2020#32Consolidated cash flow statement 20191 in CHF million -58 59 -64 658 -57 600 14 -10 " ■ ■ Operating cash flow impacted by changes in net current assets predominantly attributable to expected decrease of CHF 132 m in contract liabilities (customer advances) Investing cash flow reflects the disposal of the Drive Systems business (CHF 549 m) as well as investments (CHF 188 m) and bolt-on acquisitions (CHF 48 m) Financing cash flow primarily related to dividend payment (CHF 343 m), repayment of bond (CHF 302 m) and initiation of share buyback (CHF 64 m) Cash and cash equivalents at the Operating activities before Changes in net current changes in net current assets Investing activities beginning of the period² assets 1 Includes cash effects from discontinued operations as well as assets and liabilities held for sale 2 Includes CHF 94 million, which are included in "Assets classified as held for sale" in the balance sheet as of January 1, 2019 Page 32 Oerlikon Investor Presentation October 2020 Financing activities Conversion adjustments to cash and cash equivalents ærlikon Cash and cash equivalents at the end of the period#33R&D and CapEx on Segment level R&D expenses FY 2019 Surface Solutions (7%) 24% Manmade Fibers (3%) CHF 127m (% of Segment sales) 76% Depreciation & Amortization FY 2019 Surface Solutions Manmade Fibers Corporate 13% 3% CHF 201m 84% Surface Solutions (9%) Manmade Fibers (3%) Corporate (% of Segment sales) CapEx FY 2019 6% 18% CHF 179m 76% ærlikon CapEx / Depr. & Amort. FY 20191 Surface Solutions 1.42 1.42 Manmade Fibers 1 Excluding amortization of acquired intangible assets and depreciation charges related to right of use assets under IFRS16 (leasing) Page 33 Oerlikon Investor Presentation October 2020 1.65 1.34 Segments Group average incl. Corporate#34Asset allocation and employees on Segment level Net operating assets FY 2019 ærlikon Employees (FTE) by Segment FY 2019 Surface Solutions Manmade Fibers Corporate Surface Solutions Manmade Fibers Corporate 2% 1% CHF 1'826m 97% Operating Assets FY 2019 3% 23% CHF 2'787m 74% Page 34 Oerlikon Investor Presentation October 2020 Surface Solutions Manmade Fibers Corporate 3% 27% 11'134 70% Employees (FTE) by Region FY 2019 Europe North America Asia/Pacific RoW 3% 27% 11'134 57% 13%#35Attractive dividend of CHF 1.00 per share proposed - ordinary dividend CHF 0.35 + extraordinary dividend CHF 0.65 Underlying EPS ærlikon Dividend proposal for FY 2019 0.76 0.72 0.61 0.31 0.59 0.50 In CHF per share 0.40 In CHF per share extraordinary dividend ordinary dividend 97% 1.00 1.00 Payout ratio of ordinary dividend 88% 70% 0.65' 0.65 59% 49% 42% 36% 29% 0.35 0.30 0.30 0.30 0.27 0.25 0.35 0.35 FY 2013 FY 20141 FY 2015² FY 20163 FY 20174 FY 20185 FY 20196 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Dividend policy unchanged: Payout proposal based on up to 50 % of underlying net result and beyond after considering the Group's financial position and affordability from the balance sheet 1 Underlying EPS from continuing operations (reported EPS CHF 0.59); 2 Underlying EPS from cont. op., normalized for restructuring cost, impairments & amortization of acqu. intangible assets net of tax (reported EPS CHF -1.24); 3 Underlying EPS from cont. op., normalized for amortization of acqu. intangible assets net of tax (reported EPS CHF 1.14); 5 Underlying EPS from cont. op., normalized for amortization of acqu. intangible assets net of tax (reported EPS CHF 0.71); Page 35 Oerlikon Investor Presentation October 2020 4 Underlying EPS from cont. op., normalized for amortization of acqu. intangible assets net of tax (reported EPS CHF 0.44); 6 Underlying EPS from cont. op., normalized for amortization of acqu. intangible assets net of tax (reported EPS CHF -0.21)#36Prepare Oerlikon for the future - - • " Become more agile and more cost efficient – Targeting significant mid-term benefits - Market Uncertainties Remain All key end markets remain attractive despite currently facing structural or market related challenges C▸ Geopolitical and trade uncertainties affecting market and regional dynamics Speed of adoption / industrializing of Additive Manufacturing Potential impact of corona virus on industrial production too early to assess Need to be more nimble to adapt to changing market environments Capital Allocation Strategy Unchanged Continued return of capital to shareholders → exceeding CHF 1.1 bn via dividends from 2015 - 2019 " ærlikon Position & Invest in the Future Initiated Oerlikon Next Level - comprehensive productivity program Consolidate and optimize organizational structure post divestments Maximize business synergies to expand market reach (cross-Business Units and Corporate Center) Simplification and standardization to improve operational efficiency Rightsizing of investments to match evolving market dynamics Continued and enhanced Operational Excellence initiatives Take advantage of technology and application investments going forward Significantly improving structural cost position and rightsizing of investments 16.0-18.0% → share buyback (2019: CHF 64 m) 15.1%1 15.0-15.5%1 " M&A: Utilize strong balance sheet and net cash position → disciplined and prudent approach towards value creating acquisitions Organic growth: Continued high level of R&D (>4 % of sales) and CapEx (2019: CHF 179 m; 2020e: ~ CHF 150 m) 14.1% 14.0-14.5% G Continue disciplined allocation approach - Maintaining significant optionality for M&A 1 before exceptional items (i.e. restructuring and one-offs) Page 36 Oerlikon Investor Presentation October 2020 FY 2019 FY 2020E 100 250 bps improvement target taking into account: + reduced dilution from investments + structural adjustments / benefits - restructuring expenses - certain market headwinds Mid-term goal#37Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 6 Appendix Page 37 Oerlikon Investor Presentation October 2020 ærlikon#38Manmade Fibers remains on track; cost/cash measures in Surface Solutions ahead of schedule 1 2 3 4 Manmade Fibers remains on track despite COVID-19 pandemic Surface Solutions globally impacted ― improvement as 2Q progressed Accelerated cost and cash measures in Surface Solutions Cash controls working ... strong Group liquidity preserved ærlikon ■ 1H order intake at CHF 510 million positions segment well for future ■ 2020 delivery schedules remain on track ■ Nonwoven business concluded 15 contracts for new melt-blown equipment for facial masks Providing system relevant services and sustainable innovation pipeline ■ Q2 Surface Solutions Segment sales -31% year-over-year (-27% ex-FX) ■ COVID-19 pandemic significantly impacted all business lines ■ First signs of recovery towards the end of June in some end-markets Reduced operating expenses (excluding restructuring and impairment charges) by more than CHF 90 million year-over-year ■ Structural cost out program ahead of schedule; Completed >400 of targeted headcount reduction (total ~800) at the end of June 2020 ■ Reduced CAPEX in 1H by CHF ~18 million year-over-year ■ CHF 600m cash and cash equivalents at end of Q2 2020 ■ Commitment to medium-term Group margins of 16-18% Page 38 Oerlikon Investor Presentation October 2020#39Our Priority: adjust the structural cost base in order to return to 16 - 18% Group EBITDA margin ærlikon Program is focused on Surface Solutions Optimization focus areas: HQ and support function optimization Structural footprint and legal entity rationalization Rightsizing Additive Manufacturing Procurement synergies Total program annuity run-rate EBITDA savings CHF ~60 m ☐ One-time implementation cost CHF ~60 m* Expecting to complete -85% of headcount reduction (800 employees) by the end of 4Q20 *CHF 25m booked in 2019, CHF 21m booked in 1H20, CHF 14m planned for 2H20 Page 39 Oerlikon Investor Presentation October 2020#40Expected near-term impacts of COVID-19 pandemic on Oerlikon's served markets Filament and Nonwoven Large filament producers confirm expansion plans ■ BCF at low point of cycle ■ Nonwoven market is expanding due to need for face masks from meltblown lines ■ 44 % Group Sales 1H20 ■ Continued long-term strategic customer developments. Long-term project horizon means limited COVID-19 impact Tooling Sharp deterioration in industrial production globally ■ Automotive and Aerospace markets have knock-on impact ■ Low visibility across all industries. Though some green shoots are being seen ■ 17% Group Sales 1H20 ■ Assumes Q2 low point and gradual recovery General Industrial & Other Sharp deterioration in industrial production globally ■ China already in recovery mode ■ PMI shows signs of recovery into June ■ 17% Group Sales 1H20 ■ Assumes Q2 low point and gradual recovery in line with Industrial Production with localized trends Automotive Global production volumes expected to fall YoY -23% Chinese production recovering and signs of European ramp up in production ■ Structural change towards electric / hybrid vehicles ■ 13% Group Sales 1H20 ■ Assumes Q2 low point and gradual recovery based on OEM indications to ramp-up production ærlikon Aviation ■ COVID-19 create perfect storm for Aerospace industry IATA:55% decline of passenger traffic in 2020; not returning to 2019 levels until 2024 Aircraft production (Boeing/ Airbus) heavily reduced ■ 9% Group Sales 1H20 ■ Assumes FY20 low point and prolonged structural issues extending the recovery Page 40 Stable V-shaped recovery V-shaped recovery U-shaped recovery L-shaped prolonged recovery Surface Solutions well positioned for market rebound in Automotive, Tooling, Aerospace and General Industry - Manmade Fibers remains stable Oerlikon Investor Presentation October 2020#411 Improving resilience to position the Group well for the post global pandemic environment ærlikon World-class Surface Solutions technology leader that will emerge from the crisis more profitable and with higher returns 2 Broader and stronger Manmade Fibers Segment that continues to deliver above average returns 3 Strong balance sheet positions Group well for the future Page 41 Oerlikon Investor Presentation October 2020#42Group impacted by COVID-19 pandemic in 2Q20; OMF performed well with strong bookings in CHF million 2Q20 2Q19 y-o-y HY20 HY19 y-o-y Order intake 604 672 -10.1% 1'081 1'352 -20.1% Sales (3rd parties) 510 700 -27.2% 1'039 1'324 -21.5% Operational 55 123 -55.3% 114 218 -47.7% EBITDA In % of sales 10.8% 17.6% 10.9% 16.4% Operational EBIT 4 73 -94.0% 11 118 -90.5% In % of sales 0.9% 10.4% 1.1% 8.9% Top-line development at constant FX (y-o-y) 672 -4.2% 644 -22.6% 700 542 cerlikon ▪ 2Q20 Group Orders declined by 10.1% vs. 2Q19 due to significant COVID-19 impact on Surface Solutions - Manmade Fibers order intake increased by 22.8% Group Sales declined by 27.2% vs. 2Q19 Lower activity in Surface Solutions in all business lines due to COVID-19 Manmade Fibers sales declined by 22.8% vs. 2Q19 related to high sales in previous year – full year delivery schedules to be largely unaffected and on track - Negative FX impact on Sales and Orders from continuing strengthening of reporting currency CHF Operational EBITDA at 10.8% – strong cost control measures only partially offset lower cost absorption due to the significant decline in sales Restructuring impairment charges to enable cost out actions of CHF 26m excluded from operational results Order intake 2Q 2019 Order intake 2Q 2020 at constant FX Sales 2Q 2019 Page 42 Oerlikon Investor Presentation October 2020 Sales 2Q 2020 at constant FX#43Surface Solutions Segment - performance impacted by slowdown in all end markets, cost actions initiated 3% Asia/Pacific 22% 33% Europe Sales 2Q20 North America RoW 42% cerlikon OPERATIONAL PERFORMANCE ■ Global lock-downs had a significant negative impact on sales across geographies and product lines " Profitability contracted due to lower production volumes ■ Structural cost measures ahead of schedule - over 50% of targeted headcount reduction completed ■ In addition to the structural measures a number of short- term actions have been implemented - reduced OPEX by 90M in 1H MARKET DEVELOPMENT ■ All end-markets have been heavily impacted by the COVID-19 pandemic Europe / North America seeing most significant negative impact in Q2 some signs of recovery in June/July China recovering during 2Q but India & Japan remain slow ■ Automotive market down substantially, European and Asian production ramping up towards end of quarter Aerospace impacted heavily by reduced commercial travel and new plane order cancellations resulting in substantial reduced aircraft production " in CHF million 2Q20 2Q19 y-o-y y-o-y ex FX y-o-y HY20 HY19 y-o-y ex FX 7% Tooling Order intake 238 374 -36.5% -32.5% 571 759 -24.7% -20.6% 29% Automotive 25% Sales (3rd parties) 262 379 -30.9% -26.7% 587 750 -21.8% -17.5% Aviation Sales 2Q20 Operational EBITDA 17 64 -73.5% 56 126 -55.3% General Industry In % of sales 6.5% 16.9% 9.5% 16.7% 15% 24% Power Generation Operational EBIT -24 22 22 <-100% -29 42 <-100% In % of sales -9.3% 5.7% -4.8% 5.5% 1IP Industrial Production Page 43 Oerlikon Investor Presentation October 2020#44Manmade Fibers Segment - strong 2Q order intake; Full year deliveries on-track ærlikon 5% Asia/Pacific 3% 14% Europe North America Sales 2Q20 RoW 78% OPERATIONAL PERFORMANCE Strong order bookings in 2Q20 of CHF 366m - 1H order intake > 500M ■ No order cancellations despite the COVID-19 pandemic Despite lower 2Q sales compared to previous year 2020 production schedule remains on-track ■ No interruption to the supply chain. In China operational activity has fully resumed Sequential improvement of EBITDA margin to exceed 2019 level in 2020 - on track MARKET DEVELOPMENT ■ Textile Applications (Filament/Texturing) with continued strong market conditions due to connected investments in infrastructure and a robust project pipeline Strong project pipeline for Textile Applications resulting in lead times extending into 2023 Significant enquiries from Nonwovens resulting from the demand for Meltblown lines due to COVID-19 pandemic Special Filament, mainly in BCF1 in Turkey and US at expected low levels y-o-y y-o-y in CHF million 2Q20 2Q19 y-o-y HY20 HY19 y-o-y ex FX ex FX 10% Order intake 366 298 23.0% 31.3% 510 593 -14.1% -8.5% Textile Applications 10% Special Filament Sales 2Q20 Sales (3rd parties) 248 321 -22.8% -17.7% 452 574 -21.2% -16.3% Operational EBITDA 38 58 -34.9% 56 91 -38.6% Plant Engineering In % of sales 15.2% 18.0% 12.4% 15.9% 80% Operational EBIT 30 551 51 -41.4% I 41 78 -48.3% In % of sales 12.1% 16.0% I 9.2% 13.6% 1 Bulked Continuous Filament (Carpet Yarn) Page 44 Oerlikon Investor Presentation October 2020#45Strong balance sheet with an equity ratio of 37 % despite COVID-19 pandemic and dividend in 1H20 in CHF million Cash and cash equivalents Trade and trade notes receivables Inventories Property, plant and equipment Goodwill and intangible assets Total other assets Total assets Trade payables Current contract liabilities ærlikon H1 2020 FY 2019 600 658 291 309 359 338 591 634 1'131 1'117 640 591 3'612 3'647 228 264 361 313 186 178 154 154 332 347 Non-current lease liabilities Non-current loans and borrowings Non-current post-employment benefit liabilities Liabilities classified as held for sale 1'023 622 Total other liabilities Total liabilities Total equity 2'284 1'878 1'328 1'769 37% 49 % Total equity ratio -156 380 Net (debt) cash Page 45 Oerlikon Investor Presentation October 2020#46Prioritization of CAPEX investments in 1H; in line with strategy to improve capital efficiency CapEx ærlikon Depreciation & amortization¹ CapEx / depr. & amort. ratio In CHF million In CHF million -27% 66 1H19 48 1H20 0% 63 1H19 1.8 1.71 63 1.6 1.43 1.4 1.44 1.47 1.42 1.2 1.09 1.16 1.0 1.01 0.8 0.6 0.4 0.2 0.0 1H20 FY 2012 FY FY FY FY FY FY FY 1H 2013 2014 2015 2016 2017 2018 2019 2020 ☐ Surface Solutions capex was reduced substantially from CHF 51 m to CHF 26 m for the first half Manmade Fibers capex was stable at CHF ~11m 1 Depreciation & amortization excluding amortization of acquired intangible assets and depreciation related to right of use assets under IFRS16 (leasing). Additionally impairments are not included in depreciation and amortization. Page 46 Oerlikon Investor Presentation October 2020 0.76#47Consolidated cash flow statement 1H20 in CHF million -58 59 658 -64 -57 600 14 -10 ☐ ■ Cash from operating activities of CHF -5 m benefited from tight capital controls during challenging markets Investing cash flow reflects a disciplined use of cash with purchases of PPE reduced by CHF 30m YoY ■ Financing cash flow primarily related to dividend payment (CHF 330 m) and drawing of available liquidity (CHF 458 m) Cash and cash equivalents at the beginning of the period Operating activities before Changes in net current changes in net current assets assets Investing activities Financing activities Conversion adjustments to cash and cash equivalents Page 47 Oerlikon Investor Presentation October 2020 ærlikon Cash and cash equivalents at the end of the period#48ærlikon Strong order bookings of over CHF 500m and operational performance from Manmade Fibers in 1H20 in spite of the COVID-19 pandemic Summary and Q&A 1 2 3 4 5 Surface Solutions impacted by COVID-19 resulting from lower economic activities; technology, innovation and market position to take advantage of market recovery Group liquidity and balance sheet remain strong Accelerating and deepening actions to adjust Surface Solutions cost base... ...emerge as stronger company from crisis 2H20 expected to benefit from margin expansion as cost actions are realized. Remain committed to mid-term 16-18% Group EBITDA margin target Page 48 Oerlikon Investor Presentation October 2020#49Net income impacted by COVID-19 pandemic ærlikon in CHF million Order intake Sales Operational EBITDA In % of Sales EBITDA In % of Sales Operational EBIT In % of Sales H1 2020 1'081 H1 2019 A 1'352 -20.1 % 1'039 1'324 -21.5 % 114 218 -47.7 % 10.9% 16.4% 92 214 -56.9% 8.9% 16.2% 11 118 -90.5 % 1.1% 8.9% Result before interest and taxes (EBIT) -16 115 <-100 % in % of sales Financial result Result before taxes (EBT) in % of sales Income taxes in % of EBT -1.5% 8.7% -8 -7 14.3 % -24 107 <-100 % -2.3 % 8.1% % -9 -28 -68.0 % -37.5% -26.1 % Result from continuing operations -32 80 in % of sales Result from discontinued operations, net of income taxes Net result -3.1 % 0 -32 6.0 % -179 -99 <-100 % n/a -67.7 % Page 49 Oerlikon Investor Presentation October 2020#50Reconciliation of Profitability Measures 1H 2020 in CHF million EBITDA Depreciation and Impairments EBITA Amortization of Acquired Intangibles Other Amortization Impairments EBIT in CHF million Operational EBITDA Restructuring expenses Discontinued activities EBITDA in CHF million Operational EBIT Restructuring expenses Impairments related to restructuring Discontinued activities EBITDA to EBIT Bridges Group 1H 2020 1H 2019 92 214 -67 -66 25 148 -21 -20 -14 -13 -5 -16 115 ærlikon Surface Solutions Manmade Fibers 1H 2020 1H 2019 1H 2020 1H 2019 35 125 56 -57 -56 -22 69 -19 -19 -9 -9 61723 91 -9 -9 47 -2 -1 -3 -3 82 -5 -- -- -55 41 41 78 Operational Profitability Reconciliation Group 1H 2020 1H 2019 114 218 -21 -2 92 -1 215 Group 1H 2020 1H 2019 11 -21 118 -2 -5 -- -1 EBIT -16 115 Page 50 Oerlikon Investor Presentation October 2020 Surface Solutions 1H 2020 1H 2019 56 126 -21 -1 35 125 Manmade Fibers 1H 2020 1H 2019 56 91 -0 56 -1 91 Surface Solutions Manmade Fibers 1H 2020 1H 2019 1H 2020 1H 2019 -29 42 41 78 -21 -1 -0 -5 -55 41 -1 41 44 78#51Reconciliation of Profitability Measures 2Q 2020 in CHF million EBITDA Depreciation and Impairments EBITA Amortization of Acquired Intangibles Other Amortization Impairments EBIT in CHF million Operational EBITDA Restructuring expenses Discontinued activities EBITDA in CHF million Operational EBIT Restructuring expenses Impairments related to restructuring Discontinued activities EBITDA to EBIT Bridges Group 2Q 2020 2Q 2019 34 121 -33 -33 1 88 -11 -10 -7 -7 -5 -22 -- 70 ærlikon Surface Solutions 2Q 2020 2Q 2019 Manmade Fibers 2Q 2020 -4 64 -28 -28 -32 36 -9 -9 -4 -5 2Q 2019 37 57 -5 -4 33 53 -1 -1 -2 -1 T -5 -50 21 30 51 Operational Profitability Reconciliation Group 2Q 2020 2Q 2019 55 -21 34 སྐྱས་སྐྱ -1 122 124 -2 Surface Solutions 2Q 2020 2Q 2019 17 64 -21 -0 -4 64 Group Surface Solutions 2Q 2020 2Q 2019 2Q 2020 2Q 2019 4 73 -24 22 -21 -5 -- NITO -2 -21 -0 -5 -- EBIT -22 70 -50 22 Page 51 Oerlikon Investor Presentation October 2020 Manmade Fibers 2Q 2020 2Q 2019 38 58 -0 37 57 ཐ་ | ཆ Manmade Fibers 2Q 2020 2Q 2019 30 -0 51 -- -1 30 51#52Return On Capital Employed (ROCE) 1H 20201 FY 2019 12 Month Rolling EBIT 34 164 - Total current income tax -51 -65 - Total deferred tax income NOPAT 32 26 14 125 8.2% 12.1% 7.0% cerlikon 5.7% Net Operating Assets 1'832 1'826 + Current income tax receivables 18 16 + Deferred tax assets 142 142 0.8% Current income tax payables -51 -66 FY 2016 FY 2017 FY 2018 FY 2019 1H 20201 Deferred Tax liabilities -125 -128 Capital Employed 1'816 1'788 1 12-months rolling, continuing operations Page 52 Oerlikon Investor Presentation October 2020#53FX impact on Orders, Sales and EBITDA in 2Q 2020 Order intake 2Q 2020 -6.2% In CHF million Sales 2Q 2020 -6.0% In CHF million ærlikon EBITDA 2Q 2020 -6.0% 644 542 36 604 510 40 32 34 2 0 0 0 6.7 6.7 Margin in % In CHF million Q2 2020 reported Transaction Translation Q2 2020 FX effects effects impact adj. Q2 2020 reported Transaction Translation Q2 2020 FX effects effects impact adj. Q2 2020 reported Transaction Translation Q2 2020 FX effects effects impact adj. Top-line impact mainly related to currency translation into reporting currency CHF Main drivers were depreciation of EUR and CNY against CHF, partially compensated by a stronger USD against main currencies Page 53 Oerlikon Investor Presentation October 2020#54Agenda 1 Investment Proposition 2 Surface Solutions Segment 2.1 Attractive End Markets 2.2 Leading Technologies 2.3 Diversified Business Models 2.4 Profitable Growth Drivers 3 Manmade Fibers Segment 4 Financials 4.1 Group overview 4.2 Latest quarterly results 5 Appendix Page 54 Oerlikon Investor Presentation October 2020 ærlikon#55Aerospace - Making aerospace safer, more powerful and more efficient INDUSTRY CHALLENGES ■ Focus on turbine efficiency: both cost and 2020 emission reduction goals drive the reduction of the specific fuel consumption " Engine trends: Lighter weight materials have to withstand erosion, corrosion and extreme temperatures (>1500 C) ■ Enhanced gas path sealing to increase safety and efficiency with less emissions Stringent process and material certification to ensure safety SOLUTIONS ■ Customized solution of materials and equipment for better performance, greater efficiency and absolute reliability for our customers ■ Thermal spray and thin film coatings extend part lifetime and improve efficiency and safety of jet engines ■ Thermal barrier coatings on blades and vanes allow for higher temperature in the turbine ■ Abradable coatings are used in engines to seal the gas path and improve performance and efficiency PVD coatings for wear protection in structure parts and landing gears ■ Decorative coatings for cockpit and interior components ærlikon 16% of FY19 Surface Solutions revenue Expected growth rate 4-5% USP Oerlikon covers all coating needs of the industry - from powder development and application engineering to equipment and process know-how Client needed to increase turbine efficiency while at the same time reducing their service intensity Using a combination of thermal spray and thin film coating improves performance Oerlikon delivered materials and equipment for thermal spray and provided coating services Achievements Fan Turbine Nozzle Combustion chamber Compressor Page 55 Oerlikon Investor Presentation October 2020 5% overall efficiency increase in engine at improved safety KEY FACTS#56Automotive - Advancing productivity, sustainability and profitability in the industry INDUSTRY CHALLENGES ■ Focus on increasing manufacturing productivity and operating efficiency of cars & reduce environmental impact ■ Reduce fuel consumption, emissions and weight " Engine downsizing (e.g. using less cylinders under higher pressure) causes higher stress on smaller parts ■ More corrosion issues from exhaust gas recycling, start-stop systems, turbo-chargers " Higher torque transmissions with more gears (therefore more synchronizer rings) Reducing friction, wear and mechanical losses ■ Demand for ecofriendly cars and environmentally friendly solutions (e.g. replacing hexavalent chromium) Client needed to increase fuel efficiency of engines due to emission regulation SOLUTIONS Delivering solutions and equipment for thin film and thick layer coatings to the whole automotive value chain Coatings lead to better performance and durability due to wear protection and reduced corrosion and friction ■ Oerlikon technologies permit the use of new and lighter material that reduce weight or friction losses in the engine " Coatings support the development of new and suitable design parts the number of car parts coated by Oerlikon increased by a factor of 10 since 2008 Coatings increase reliability and quality of material such as brake disc coatings to support manufacturers in their effort to increase car safety further while significantly reducing fine dust and fuel consumption 25% of FY19 ærlikon Surface Solutions revenue Expected growth rate-2% USP Innovative custom designed solutions and global presence enable reliable operational performance to address our customers needs Achievements Page 56 Oerlikon Investor Presentation October 2020 Using a combination of thermal spray and thin film coating to improve performance Intake cam Connecting rod Exhaust valve Clutch Gearbox Oerlikon delivered PVD solutions for piston pins and TS SUMEBORE coating for cylinder walls 2-4% DLC, 2 μm Support layer Substrate Reduced fuel consumption up to 40% Friction reduction KEY FACTS#57Tooling - Enabling sharper, stronger and more durable tools INDUSTRY CHALLENGES ■ Focus on quality, cost and overall factory output of any product " Productivity: increasing tool throughput and solving production bottlenecks Durability: reduced service cycles, enhanced corrosion and adhesion protection ■ Performance: better production reliability, higher temperatures, higher speed and quality of output ■ Environmental challenges - i.e. dry machining, REACH compliance SOLUTIONS Delivering over 35 different thin film coatings extend service life, lower manufacturing costs and increase production reliability of tools at enhanced corrosion and adhesion protection ■ Joint solution development with customers - special coatings to withstand extremely high temperatures, erosion, oxidation and other harmful effects or to lower friction and wear " Productivity gains by achieving extremely fast cutting speeds at high temperatures ■ Lower tool costs due to significantly prolonged tool service life 29% of FY19 ærlikon Surface Solutions revenue Expected growth rate -3% USP Technological and market leadership with global availability of solutions enable unique full service performance in terms of quality, process stability, delivery time and consistency Client needed to increase tool efficiency while at the same time extend replacement cycle Using a thin film coating to improve performance - reduce friction and wear, increase removal rates Oerlikon provided coating services by a global network for leading tool manufacturers 4μm Page 57 Oerlikon Investor Presentation October 2020 2.5x Achievements ~67% increased drilling speed tool lifetime extension KEY FACTS#58Power Generation - Empowering the way to effectively generate energy INDUSTRY CHALLENGES ■ Focus on increased efficiency to improve client's cost curve position ■ Maintenance interval reduction in gas turbines, hydropower and oil & gas ■ Oil & gas applications in challenging environments require maintenance free solutions ■ Corrosion and erosion cause efficiency losses SOLUTIONS Delivering highly productive and reliable customized solution of coatings, materials and equipment for gas and steam, hydro and wind turbines and oil & gas applications ■ With Oerlikon products that reduce distortion and wear, turbines last longer and perform more efficiently and reliably ■Thin film and thick layer solutions protect against abrasive wear, erosion, corrosion, fatigue, high fluid pressure, vibrations, jar impact loads, extreme torque and many more ærlikon 5% of FY19 Surface Solutions revenue Expected growth rate-2-3% USP Oerlikon offers all required coating solutions and is the strongest European manufacturer of cooling paths in blades and vanes Client needed to increase turbine efficiency while increase time between overhaul & reduce emission Using thermal barrier coatings (hot section) and thin film coatings (erosion) Oerlikon delivered materials and equipment for thermal spray and provided coating services Achievements Page 58 Oerlikon Investor Presentation October 2020 2% overall efficiency increase at a 530MW gas turbine KEY FACTS#59- General Industry. Enable industries to build more powerful, complex and efficient products INDUSTRY CHALLENGES ■ Consumer Goods: Providing design, reliability and scratch-resistance for product differentiation. Coatings of watches to washing machines, of consumer electronics to sanitary fittings improve their performance, quality and service and make their production more efficient Medical: Medical coatings include antimicrobial functionality to ensure fast wound healing, bio- compatibility to support the integration of an implant into the bone or non-reflection of surgical instruments ■ Pulp/Paper & Print: Coatings applied to anilox rolls or corrugating rolls for the paper industry significantly extend the useful life of the rolls ■ Steel & Metal processing: Components used in the production and processing of steel/metals need to resist the high temperature and corrosive effects of molten and hot metals. Clients need abrasion- and scratch-resistance to housing and to enhance the look of exterior parts " Food/packaging: hygiene, productivity and reliability are critical for FMCG clients. Coatings help maintain hygiene, reduce wear, extend the service life or improve manufacturing process for food processing, plastic film and foils, labelling, bottling, paper production and more Engineering: Coatings minimize friction, wear corrosion and enhance the reliability of instrument panels, air vents, batteries, semiconductors, agricultural machinery, construction equipment to printing industry ■ The growth potential for Oerlikon's technologies is broad and diverse as there is hardly any industry where Oerlikon technologies can not add value Using amorphous carbon coatings protect the watch parts from wear and corrosion and adding colors in-fashion 25% of FY19 ærlikon Surface Solutions revenue USP Dedicated competences to solutions via a global network define customized surface Oerlikon provided coating services throughout a global network for leading watch manufacturers Achievements 55 Page 59 Oerlikon Investor Presentation October 2020 Coatings can prolong the service life by a factor of up to 50 KEY FACTS#60115.0 105.0 95.0 85.0 75.0 65.0 55.0 45.0 Oerlikon shares Oerlikon shares Oerlikon shareholder structure1 " Listed on Swiss Exchange (SIX) since 1973 Liwet Holding AG " " Securities symbol: OERL Securities number 81 682 ISIN: CH0000816824 Number of shares outstanding: 339 758 576 shares Re-entry to Swiss SMIM (April 17, 2012) 41.34% Black Creek IM Others (incl. 3.45% treasury shares) 55.63% as of July 31, 2020, indexed; 100 percent = closing price per December 31, 2019 125.0 Oerlikon SMI SMIM Oerlikon share price development STOXX Europe 600 STOXX Europe 600 Industrial 31.12.2019 03.01.2020 08.01.2020 13.01.2020 16.01.2020 21.01.2020 24.01.2020 29.01.2020: 03.02.2020 06.02.2020 11.02.2020 14.02.2020 19.02.2020 24.02.2020 .02.2020 03.03.2020 06.03.2020 11.03.2020: 16.03.2020 19.03.2020 24.03.2020 27.03.2020 01.04.2020 06.04.2020; 09.04.2020 14.04.2020 17.04.2020 22.04.2020 27.04.2020 30.04.2020 05.05.2020 08.05.2020 13.05.2020 18.05.2020 21.05.2020 26.05.2020 29.05.2020 03.06.2020 08.06.2020 11.06.2020 16.06.2020 19.06.2020 24.06.2020 29.06.2020 02.07.2020 07.07.2020 10.07.2020 15.07.2020 20.07.2020 23.07.2020 28.07.2020 31.07.2020 1 Based on latest notifications by Liwet (as of May 25, 2018 of 140 484 860 shares), Black Creek (as of January 20, 2018 of 9 966 654 voting rights) and BlackRock (as of August 14, 2019 of 9 826 322 voting rights) Page 60 Oerlikon Investor Presentation October 2020 05.08.2020 10.08.2020 13.08.2020 18.08.2020 21.08.2020 26.08.2020 3.03% 31.08.2020 03.09.2020 08.09.2020 11.09.2020- 16.09.2020 21.09.2020 24.09.2020 29.09.2020 ærlikon as of March 31, 2020#61Coverage - 7 Buy / Add - 5 Hold / Neutral - 1 Reduce / Sell ærlikon Broker AlphaValue Baader Helvea Berenberg Bank Credit Suisse Deutsche Bank Kepler Cheuvreux MainFirst Analyst Luis Pereira Christian Obst Recommendation Date of last update Target price Add 06.05.2020 9.00 Reduce 01.07.2020 7.00 Marta Bruska n/a 05.03.2019 n/a Patrick Laager Neutral 01.09.2020 9.20 Uwe Schupp Buy 05.08.2020 10.00 Torsten Sauter Hold 06.08.2020 8.00 Christian Arnold Hold 31.08.2020 8.50 Octavian Alessandro Foletti Buy 05.08.2020 10.40 RBC Capital Markets Sebastian Künne Outperform 06.08.2020 8.70 UBS Fabian Haecki Buy 28.04.2020 10.20 Vontobel ZKB Consensus Michael Foeth Buy 06.08.2020 9.10 Armin Rechberger Marketweight 07.08.2020 8.57 8.97 Page 61 Oerlikon Investor Presentation October 2020#62Financial Calendar 2020 November 3, 2020 Q3 / 9M 2020 results - Media & Analyst Conference Call Page 62 Oerlikon Investor Presentation October 2020 ærlikon#63Board of Directors ærlikon Prof. Dr. Michael Süss Chairman 1963, German citizen Prof. Dr. Michael Süss was elected to the Board of Directors and as Chairman of the Board at the 2015 Annual General Meeting. From 2015 to 2016, Prof. Dr. Süss held the position of CEO at Georgsmarienhütte Holding, a traditional German steel company. Prior to that, he was a member of the Managing Board of Siemens AG and CEO of the Siemens Energy Sector. Gerhard Pegam Vice Chairman 1962, Austrian citizen Gerhard Pegam was elected to the Board of Directors at the 2010 Annual General Meeting. In 2012, he founded his own consulting firm. From June 2011 until June 2012, he was a Corporate Officer of TDK Corporation, Japan. From 2001 until 2012, he was CEO of EPCOS AG, Germany, and from 2009 until 2012, he additionally served as a board member of TDKEPC Corp., the parent company of EPCOS AG. Dr. Suzanne Thoma Geoffery Merszei 1962, Swiss citizen Dr. Suzanne Thoma was elected to the Board of Directors at the 2019 Annual General Meeting. She is currently Chief Executive Officer of BKW Ltd., an international energy and infrastructure service company. She brings with her over 20 years of experience in leadership roles in the energy, automotive and chemical industries. 1951, Canadian citizen Geoffery Merszei was elected to the Board of Directors at the 2017 Annual General Meeting. He is Chairman and Chief Executive of Zolenza AG, an investment and advisory firm based in Zug, Switzerland. He brings with him over 40 years of experience in corporate governance and finance. Irina Matveeva 1973, Russian citizen Irina Matveeva was elected to the Board of Directors at the 2020 Annual General Meeting of Shareholders. She is the Chief Financial Officer of AO Complex-Prom in Moscow, Russia. Prior to that, Mrs. Matveeva was General Director at LLC OLCOR M and served from 2010 to 2018 as Financial Director of the Renova Group. Alexey V. Moskov 1971, Cypriot and Russian citizen Alexey V. Moskov I was elected to the Board of Directors at the 2016 Annual General Meeting. In 2004, he was appointed Chief Operating Officer of Witel AG (former Renova Management AG), Zurich, Switzerland. Prior to Witel AG, he served on the Board of Directors of OAO NGK Slavneft and worked in diverse managerial positions at Tyumen Oil Company TNK-BP. Paul Adams 1961, US citizen Paul Adams was elected to the Board of Directors at the 2019 Annual General Meeting. He served from 2016 to 2018 as Chief Operating Officer of Precision Castparts Corp. From 2014 to 2016, he was President of Pratt & Whitney, a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. He brings with him over 30 years of leadership experience in the aviation industry. Page 63 Oerlikon Investor Presentation October 2020#64Executive Committee ærlikon Dr. Roland Fischer Chief Executive Officer Dr. Roland Fischer (German citizen) was appointed Chief Executive Officer of Oerlikon Group, effective March 1, 2016. Prior to Oerlikon, Dr. Fischer held senior management positions at Siemens AG, the most recent as CEO of the Power and Gas Division from 2013 to 2015. Between 2011 and 2012, he served as CEO of the Fossil Power Generation Division, and from 2008 to 2011, he was CEO of the Business Unit Fossil Power Generation - Products, Siemens, Germany. Dr. Roland Fischer graduated from the University of Stuttgart, Germany, with a degree in Aeronautical Engineering, and holds a PhD (Dr.-Ing.) in Aeronautical Engineering from the University of Karlsruhe, Germany. Page 64 Oerlikon Investor Presentation Philipp Müller Chief Financial Officer Philipp Müller (German citizen) was appointed Chief Financial Officer effective January 1, 2020. Mr. Müller has more than 15 years of financial and strategic experience across multiple industries. Most recently, he led the investor relations functions at Baker Hughes in Houston, Texas, U.S. Prior to that, he served as CFO of GE's oil & gas drilling business from 2014 to 2016. Previously, Mr. Müller held various financial leadership positions in GE's industrial businesses. Prior to that, he spent five years on GE's corporate audit staff, where he advanced to executive audit manager at GE Healthcare. Mr. Müller has extensive international experience, having worked in over ten countries during his career. He holds a Master's degree in Business from the University of Mannheim, Germany. October 2020 Dr. Helmut Rudigier Chief Technology Officer Dr. Helmut Rudigier (Austrian citizen) was appointed CTO of the Oerlikon Group, effective November 1, 2017. Dr. Rudigier joined Oerlikon Balzers in 1986 as R&D Project Manager. Since then, he has built his career within Oerlikon in diverse research and management roles, including Manager R&D Balzers Thin Films, Manager Production Site Balzers, Manager R&D Division Optics, Business Development Telecommunication (fiber optics), CTO Oerlikon Balzers, and most recently as the CTO of the Surface Solutions Segment. Dr. Rudigier holds a PhD from the Institute of Solid State Physics at the ETH Zurich, Switzerland, and has completed executive management programs at the University of California, Los Angeles, USA, and at IMD Lausanne, Switzerland. Anna Ryzhova Chief HR Officer Anna Ryzhova (Russian citizen) was appointed Chief Human Resources Officer of the Oerlikon Group, effective October 10, 2016. Ms. Ryzhova has over 15 years of experience in leading HR functions. Most recently, Anna Ryzhova was Chief Human Resources Officer at Renova Management AG, Zurich, Switzerland. From 2010 to 2015, she served as HR and Corporate Relations Director at the Renova Group Corporate Center in Moscow, Russia. Anna Ryzhova holds a Master's degree in Economics from the National Research University Higher School of Economics in Moscow and an Executive MBA from IMD, Lausanne, Switzerland.#65Investor Relations Contact ærlikon Kerstin Flötner Head of Corporate Communications, Investor Relations & Marketing Phone: E-mail: +41-58-360-9668 [email protected] OC Oerlikon Management AG, Pfäffikon Churerstrasse 120 CH 8808 Pfäffikon SZ Switzerland Page 65 Oerlikon Investor Presentation October 2020#66Disclaimer ærlikon OC Oerlikon Corporation AG, Pfäffikon, (together with its affiliates hereinafter referred to as "Oerlikon") has made great efforts to include accurate and up-to-date information in this document. However, Oerlikon makes no representation or warranties, expressed or implied, as to the truth, accuracy or completeness of the information provided in this document, Neither Oerlikon nor any of its directors, officers, employees or advisors, nor any other person connected or otherwise associated with Oerlikon, shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this document. The contents of this document, including all statements made therein, is based on estimates, assumptions and other information currently available to the management of Oerlikon. This document contains certain statements related to the future business and financial performance or future events involving Oerlikon that may constitute forward-looking statements. The forward-looking statements contained herein could be substantially impacted by risks, influences and other factors, many of which are not foreseeable at present and/or are beyond Oerlikon's control, so that the actual results, including Oerlikon's financial results and operational results, may vary materially from and differ than those, expressly or implicitly, provided in the forward-looking statements, be they anticipated, expected or projected. Oerlikon does not give any assurance, representation or warranty, expressed or implied, that such forward-looking statements will be realized. Oerlikon is under no obligation to, and explicitly disclaims any obligation to, update or otherwise review its forward-looking statements, whether as a result of new information, future events or otherwise. This document, including any and all information contained therein, is not intended as, and may not be construed as, an offer or solicitation by Oerlikon for the purchase or disposal of, trading or any transaction in any Oerlikon securities. Investors must not rely on this information for investment decisions and are solely responsible for forming their own investment decisions. Page 66 Oerlikon Investor Presentation October 2020