#1Annual results 2021 presentation February 16, 2022 Schindler 2022 G Schindler#2Agenda 2 1. Challenges 2. New leadership structure 3. Financial results 2021 4. Outlook 5. Q&A Silvio Napoli Silvio Napoli Urs Scheidegger Urs Scheidegger Silvio Napoli & Urs Scheidegger | © Schindler 2022 | We Elevate | February 16, 2022 | Investor Relations Schindler#3Delivering on Top Speed 23 objectives calls for change Execution of core initiatives to be accelerated and refocused Top Speed 23 Core initiatives Goals New installations growth in selected strategic markets Portfolio growth/investments in mass connectivity Industry-leading customer experience Sustainable modernization solutions Digital Twin (elevators and escalators) Doing business sustainably Product innovation for Procurement excellence selected markets/segments 3 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Competitive EBIT margin Schindler#4Schindler is lagging competition Performance gaps need to be addressed now EBIT adj. development - gap widening again 25.0% 0.0% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 4 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler Competitor 1 Competitor 2 Schindler#5Unprecedented mix of challenges Effective response to complex environment needed 1. Dealing with foreign exchange burden 2. Regaining competitive new installation (NI) margins 3. Resolving supply chain disruptions 4. Streamlining product portfolio complexity 5. Adjusting for China NI market contraction 5 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#6Challenge #1: foreign exchange burden Pressure expected to continue due to Swiss franc strength Impact on revenue and EBIT since 2008 -3 809 Revenue, CHF million -507 EBIT, CHF million >90% of revenue in other currencies than CHF 2021 100 January 1, 2008 CNY/CHE BRL/CHF 2015 6 | © Schindler 2022 | We Elevate February 16, 2022 | Investor Relations OpEx Revenue -8% USD/CHF www 19% Significant translation exposure Swiss franc is the reporting currency for Group accounts Exposure from corporate functions in Switzerland Over-proportional OpEx exposure to CHF -37% EUR/CHF →Measures to counter translation exposure Mitigation of CHF cost exposure Www-74% December 31, 2021 CHF EUR USD CNY INR BRL Others Continued alignment of competences and resources to strategic markets Minor transaction exposure Dealt with by systematic hedging process Schindler#7Challenge #2: regain competitive NI margins Raw material and component cost inflation persisting at record levels Weighted raw material index ¹) - steep increase... and same for semiconductor cost²) 150 +47% 100 50 $40 36.0 CHF/unit $30 $20 $10 $0 1.4 CHF/unit 2019 2020 2021 1) Source: Schindler 2) Flash microchip price elevator controllers 7 | © Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 2021 Up to 26x price increase Schindler#8Challenge #2: regain competitive NI margins Logistics cost dramatically increased, threatening global supply chain effectiveness Shanghai containerized freight index more than quintupled 1) Supply chain model under pressure 6000 5000 4000 3000 2000 1000 2019 1) October 16, 2019 = 1 000, based on the most used trade routes from Shanghai 2020 2021 8 | © Schindler 2022 | We Elevate | February 16, 2022 Investor Relations 5.3x since January 1, 2020 Make C Buy Schindler#99 Challenge #2: regain competitive NI margins Price levels still unable to offset cost inflation impact More price increases are a must to offset increasing cost 120 110 100 90 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations WW+10% 2019 2020 2021 +2% Price level residential elevators country 1 Price level residential elevators country 2 Price level residential elevators country 3 -6% Schindler#1010 Challenge #3: Supply chain issues Manufacturing stretched between new modular platform ramp-up and delayed phasing-out of legacy product lines Modular elevators vs. legacy product lines - proportion of old product lines still high 100% Order intake Order backlog 50% IIII 0% 2020 2021 modular platforms 2020 legacy product lines 2021 | © Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#11Challenge #4: Accelerate complexity reduction NI modularity still to be implemented across key segments Status sales release of modular products Factory transition from legacy product to modular platform Residential elevators Commercial elevators Not included in modularity program High rise elevators Escalators (commercial) Asia-Pacific Americas EMEA modular platforms legacy product lines 11 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 8 6 5 LO 4 St 3 2 # of cabin types ☐ 7 by the end of 2021 0 2017 2018 2019 2020 2021 Schindler#1212 Challenge #5: China NI market expected to contract in 2022 Sharpened focus on strategic growth pockets required - pressure only partially offset by growth in service and modernization Floor space started growth (6 months average) by city tiers Housing inventory by city tiers (2014 =100) 120% 100% 80% 60% 40% 20% 0% -20% A -40% -60% 2014 2015 2016 2017 2018 2019 2020 2021 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 160 140 120 100 80 پیسے 60 40 20 0 2014 2015 2016 2017 2018 2019 2020 2021 Tier 1 Tier 2 Tier 3/4 Schindler#13New leadership structure to navigate mix of challenges "Top Speed 23" set-up: more speed, agility and impact Corporate Governance Structure *) including Escalators 13 Silvio Napoli Chairman & CEO Key Changes Combined Chairman & CEO: faster decision-making strategic priorities impact CFO Paolo Compagna COO Group HR New COO role: Americas Europe South Europe North Asia-Pacific China* CIO CTO Operations Supply Chain | © Schindler 2022 | We Elevate | February 16, 2022 Investor Relations drives strategy execution leads day-to-day operations breaks down silos across entire value- chain Schindler#143. Financial results 2021 in a nutshell Global markets recovering at various speed Order intake and revenue back to 2019 pre-pandemic levels Operating results affected by supply chain issues, electronic shortages, material and freight cost inflation and delayed deliveries and construction sites Solid cash flow from operating activities Top Speed 23 program in execution phase 14 Schindler 2022 | We Elevate | February 16, 2022 Schindler อ#15Global markets have continued to recover in 2021 Mixed recovery patterns across geographies, product lines and segments Market growth vs. 2020 China APAC w/o China Americas EMEA Global By business (units) New installations (NI) ୦୦ ୦୦୦ Maintenance OOO ୦୦ О О By business (value) New installations (NI) ୦୦ ୦୦୦ ୦୦ OO Maintenance ୦୦୦ 88 80 By market segment (NI units) Residential ୦୦୦ ୦୦୦୦ ୦୦ 00 OOO Global Commercial market ୦୦୦ ୦୦୦୦ OO split Public transport ୦୦ ୦୦୦୦ ୦୦୦୦ ၁ဝ О ○0 to <5% OO 5% to <10% OOO 10% to <20% OOOO ≥20% negative O|O positive Source: Schindler estimates 15 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#16Order intake development Back to pre-pandemic level, margins under pressure October to December in CHF million January to in CHF million +10.6 1) 12 123 12 166 11 018 +10.4% +7.3 2) +5.9 1) 3 114 2 951 +0.4 3) 3 128 +6.0% +7.3 2) +0.4 3) Q4 2019 Q4 2020 Q4 2021 FY 2019 FY 2020 FY 2021 1) Growth in local currencies, in % 2) Growth in local currencies vs. 2019, in % 3) Growth vs. 2019, in % 16 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#17Order intake growth by region and product line (full year) Growth across all regions and product lines, activity levels maintained in the second half of the year Growth 12M 2021 vs. China APAC w/o China Americas EMEA Global 12M 2020 By business (units) New installations (NI) ୦୦୦ OOOO ୦୦ OOO Maintenance ୦୦୦ ୦୦ О О OO By business (value in LC) New installations (NI) OOO ୦୦୦୦ OOO ୦୦ OOO Modernization ୦୦୦୦ ୦୦୦୦ ୦୦୦୦ OOO Maintenance ୦୦୦ ○0 to <5% OO 5% to <10% 17 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations OOO 10% to <20% OOOO >20% negative O❘Opositive Schindler#18Revenue development Full year back to pre-pandemic level, Q3 slowdown continued Q4 October to December January to December in CHF million in CHF million +5.7 1) 11 271 10 640 11 236 +5.6% +0.6 1) +6.3 2) -0.3 3) 3 016 2 927 2 954 +0.9% +4.2 2) -2.1 3) Q4 2019 Q4 2020 Q4 2021 FY 2019 FY 2020 FY 2021 Growth in local currencies, in % 2) Growth in local currencies vs. 2019, in % 3) Growth vs. 2019, in % 18 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#19Margin EBIT adj. development Margins below pre-pandemic level, Q4 drop driven by supply chain issues October to December EBIT adjusted Schindler January to December EBIT adjusted in CHF million -10.61) 364 341 306 -10.3% -11.5 2) -15.9 3) Q4 2019 Q4 2020 12.1% 11.7% 1) Growth in local currencies, in % 2) Growth in local currencies vs. 2019, in % 3) Growth vs. 2019, in % 19 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Q4 2021 10.4% 1 314 A.RICOY in CHF million +5.4 1) 1 185 1 252 +5.7% +1.52) 4.7 3) Schindler FY 2019 FY 2020 FY 2021 Margin 11.7% 11.1% 11.1% Schindler#20Net profit development EBIT impacted by Top Speed 23 cost ramp-up in Q4 October to December in CHF million 249 226 192 -15.0% -22.9 1) Q4 2019 Q4 2020 1) Growth vs. 2019, in % 20 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations December in CHF million 929 881 774 +13.8% +-5.2 1) Q4 2021 FY 2019 FY 2020 FY 2021 C Schindler#21Cash flow development NWC improvement less pronounced than in 2020 October to December in CHF million 626 529 -43.1% 356 Q4 2019 Q4 2020 Cash flow from operating activities 1) Growth vs. 2019, in % 21 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations -32.7 1) Q4 2021 Schin January to December 1 185 2) in CHF million 1 581 -16.9% 1 314 FY 2019 FY 2020 Change NWC -6 272 2) Before settlement of pension obligations (CHF -157 million) CHF 1 342 million +10.9 1) FY 2021 59 Schindler#22Top Speed 23 program update CHF 58 million spent in 2021 - further acceleration needed Core initiatives New installations growth in selected strategic markets Portfolio growth/investments in mass connectivity Status % expenses of full program EBIT Impact as of (year) 5 - 10% 2022 Growth above market in all key markets, margins to be improved 30% increase of connected units despite semiconductor shortage 40 - 50% 2022 Sustainable modernization solutions Digital Twin (elevators and escalators) Product innovation for selected markets/segments Procurement excellence Market opportunities identified, modular solutions under development Escalators: live product design and planning, supply and shop floor management; Elevators: pilot phase Coverage gaps identified in strategic markets, new product development under way New procurement operating model defined, implementation under way 22 | © Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 10-20% 10 - 20% 10-20% 2023 < 5% 2022 2025 2025 Schindler#233. Outlook 2022 Schindle 23 Schindler 2022 | We Elevate February 16, 2022 | Schindler#24Market outlook 2022 Market growth burdened by NI slowdown in China Market growth in units China APAC w/o China Americas EMEA Global New installations Total Residential Commercial Public transport Existing installations Total Modernization Maintenance negative positive Source: Schindler estimates 24 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#25Outlook 2022 As of February 16, 2022 25 vler Suvex Business environment ■ China market contracting, RoW mixed ■ Construction site delays continue to hinder project execution ■ Material cost inflation and supply chain disruptions cause persisting margin pressure Schindler outlook for 2022 ■ New leadership structure in place to move faster and with more impact ☐ Price increases across all products. and regions unlikely to offset cost pressure Top Speed 23 expenses expected to reach up to CHF 150 million. ▪ Revenue growth between 1% to 6% in local currencies, margin pressure to continue ■ Q1 and Q2 expected with slow revenue growth and a significant drop in profitability chindler | © Schindler 2022 | We Elevate | February 16, 2022 | Investor Relations Schindler#26Annual results 2021 presentation Q&A 26 | © Schindler 2022 | We Elevate | February 16, 2022 | PD 30 AM BAHAMAS CUAA OpenStreetMap cong REPUBLIC Schindler#27Financial calendar 2022 Full year results media conference Closing date of shareholders' register Ordinary General Meeting Schindler Holding Ltd. First trading date ex-dividend Date of Schindler Holding Ltd. dividend payment Publication of key figures as of March 31 Publication of Interim Report as of June 30 Publication of key figures as of September 30 1) Subject to approval of a dividend payment by the General Meeting of Schindler Holding Ltd. Contact: Marco Knuchel, Head Investor Relations; Phone +41 41 445 30 61, [email protected] 2022 2023 February 16 March 15 February March 22 March 28 1) March 24 1) March 28 April 22 April July 22 October 20 July October Non-GAAP measures: Financial information contained in the reporting includes certain non-GAAP measures, which are not as defined by International Financial Reporting Standards (IFRS). They are used by management for the purpose of defining targets and measuring the Group's performance. These measures may not be comparable to similar measures at other companies and should not be viewed as substitute for IFRS measures. They are available at: www.schindler.com - Investors - Results (http://group.schindler.com/en/investor-relations/results/definition-on-non-gaap-items.html). The information in the presentation was factually accurate on the date of publication. It remains on our website for historical information purposes only. Schindler assumes no responsibility to update the information to reflect subsequent developments. Readers should not rely upon the information in this presentation as current or accurate after its publication date. Copyright Schindler. All rights reserved Schindler owns and retains all copyrights and other intellectual property rights in this presentation. It may not be reproduced, modified or copied nor used for any commercial purposes (e.g. manufacturing), nor communicated to any third parties without our written consent. Schindler undertakes all reasonable efforts to ensure that the information in this presentation is accurate, complete and derives from reliable sources. Schindler however, does not represent nor warrant (either expressly or implicitly) accuracy, reliability, timeliness or completeness of such information. Therefore, Schindler is not liable for any errors, consequence of acts or omissions based on the entirety or part of the information available in this presentation. 27 | © Schindler 2022 | We Elevate | February 16, 2022 Investor Relations Schindler#28Additional charts 28 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#29Order intake growth by region and product line (4th quarter) Continued growth across the board, decelerating momentum particularly due to tougher comparables Growth Q4 2021 vs. Q4 2020 China APAC w/o China Americas EMEA Global By business (units) New installations (NI) OOO ୦୦ Maintenance О О О О O By business (value in LC) New installations (NI) ୦୦ ooo О Modernization OOOO О ୦୦୦ OO Maintenance ୦୦ ○0 to <5% OO 5% to <10% OOO 10% to <20% OOOO >20% negative O❘O positive 29 | © Schindler 2022 | We Elevate | February 16, 2022 Investor Relations Schindler#30Key figures as of December 31, 2021 October to December 2021/2020 In CHF million Q4 2021 Q4 2020 A% Ʌ% in LC Order intake 3 128 2 951 6.0 5.9 Revenue 2 954 2 927 0.9 0.6 Operating profit (EBIT) 253 298 -15.1 -15.4 in % 8.6 10.2 Operating profit (EBIT), adjusted 306 1) 341 2) -10.3 -10.6 in % 10.4 11.7 Financing and investing activities -11 -21 Profit before taxes 242 277 -12.6 Income taxes Net profit 50 51 192 226 -15.0 Earnings per share and participation certificate in CHF 1.64 1.96 Cash flow from operating activites 356 626 -43.1 2) 1) Adjusted for Top Speed 23 costs (CHF 42 million), restructuring costs (CHF 6 million), and expenses for Building Minds (CHF 5 million) Adjusted for restructuring costs (CHF 39 million) and expenses for Building Minds (CHF 4 million) 30 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#31Key figures as of December 31, 2021 October to December 2021/2019 In CHF million Q4 2021 Q4 2019 A% Ʌ% in LC Order intake Revenue 3 128 3 114 0.4 7.3 2 954 3 016 -2.1 4.2 Operating profit (EBIT) 253 335 -24.5 -20.3 in % 8.6 11.1 Operating profit (EBIT), adjusted 306 1) 364 2) -15.9 -11.5 in % 10.4 12.1 Financing and investing activities -11 -18 Profit before taxes 242 317 -23.7 Income taxes Net profit 50 68 192 249 -22.9 Earnings per share and participation certificate in CHF 1.64 2.12 Cash flow from operating activites 356 529 -32.7 2) 1) Adjusted for Top Speed 23 costs (CHF 42 million), restructuring costs (CHF 6 million), and expenses for Building Minds (CHF 5 million) Adjusted for restructuring costs (CHF 25 million) and expenses for Building Minds (CHF 4 million) 31 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#32Key figures as of December 31, 2021 January to December 2021/2020 In CHF million Order intake Revenue Operating profit (EBIT) in % Operating profit (EBIT), adjusted in % Financing and investing activities Profit before taxes Income taxes Net profit Earnings per share and participation certificate in CHF Cash flow from operating activites FY 2021 FY 2020 A% Ʌ% in LC 12 166 11 018 10.4 10.6 11 236 10 640 5.6 5.7 1 166 1 032 13.0 12.7 10.4 9.7 1 252 1) 1 185 2) 5.7 5.4 11.1 11.1 -42 -39 1 124 993 13.2 243 219 881 774 13.8 7.70 1 314 6.72 1 581 -16.9 1) Adjusted for Top Speed 23 costs (CHF 58 million), restructuring costs (CHF 26 million), real estate gains (CHF -21 million), and expenses for Building Minds (CHF 23 million) Adjusted for restructuring costs (CHF 135 million) and expenses for Building Minds (CHF 18 million) 2) 32 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#33Key figures as of December 31, 2021 January to December 2021/2019 In CHF million Order intake Revenue Operating profit (EBIT) in % Operating profit (EBIT), adjusted in % Financing and investing activities Profit before taxes Income taxes Net profit Earnings per share and participation certificate in CHF Cash flow from operating activites FY 2021 FY 2019 A% Ʌ% in LC 12 166 12 123 0.4 7.3 11 236 11 271 -0.3 6.3 1 166 1 258 -7.3 -1.0 10.4 11.2 1 252 1) 1 314 2) -4.7 1.5 11.1 11.7 -42 -57 1 124 1 201 -6.4 243 272 881 929 -5.2 7.70 1 314 8.04 1 185 3) 10.9 1) Adjusted for Top Speed 23 costs (CHF 58 million), restructuring costs (CHF 26 million), real estate gains (CHF -21 million), and expenses for Building Minds (CHF 23 million) 2) Adjusted for restructuring costs (CHF 38 million) and expenses for Building Minds (CHF 18 million) 3) Before settlement of pension obligations (CHF-157 million) CHF 1 342 million 33 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#34Revenue development Supply chain disruptions and project delays FY 2021 Revenue bridge 608 10 640 EMEA Americas O -12 о USD BRL China OOO TRY Rest AP OOO (+) RMB (+) EUR (+/-) Others in CHF million 11 236 FY 2020 Regional growth FX impact FY 2021 O<5% OO5% to <10% 000 10% to <20% 0000>20% negative OO positive 34 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations FY 2021 Revenue by region 0 2021 2020 Asia-Pacific 30% 28% Americas 26% 27% EMEA 44% 45% Schindler#35Operating profit development Slowing momentum from Q3 FY 2021 EBIT adjusted bridge 1 185 in CHF million 64 3 1 252 (-) USD (-) BRL (+) RMB (+) EUR (+/-) Others FY 2020 Operational FX impact FY 2021 35 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#36Dividend Proposal to the Annual General Meeting of CHF 4.00 Dividends Schindler Holding Ltd. in CHF 5.00 4.00 3.00 2.00 1.00 0.00 2017 52.0 2018 45.5 2019 49.8 Pay-out ratio in % of earnings per registered share/participation certificate. 36 | Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 2020 2021 59.5 52.0 ■Dividend proposal Ordinary dividend Schindler#37Quarterly overview Key figures In CHF million Q4 Q3 Q2 2021 Q1 Order intake 3 128 2 995 3 106 2 937 2 951 Q4 2712 Q3 Q2 2020 Q1 2 635 2 720 Revenue 2 954 2 807 2 873 2 602 2 927 2 754 2 512 2 447 Operating profit (EBIT) 253 306 319 288 298 313 255 166 in % 8.6 10.9 11.1 11.1 10.2 11.4 10.2 6.8 Operating profit (EBIT), adjusted 306 308 337 301 341 337 286 221 in % 10.4 11.0 11.7 11.6 11.7 12.2 11.4 9.0 Financing and investing activities -11 -7 -11 -13 -21 -7 -9 -2 Profit before taxes 242 299 308 275 277 306 246 164 Income taxes 50 65 66 62 51 71 58 39 Net profit 192 234 242 213 226 235 188 125 Cash flow from operating activities 356 237 264 457 626 319 313 323 37 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations Schindler#38Balance sheet In CHF million 31.12.2021 in % 31.12.2020 in % Cash and cash equivalents 2 841 23.7 2 483 22.8 Other current assets 5 436 45.4 4 892 45.0 Total current assets Non-current assets Total assets 8 277 69.1 7 375 67.8 3 697 30.9 3 502 32.2 11 974 100.0 10 877 100.0 Current liabilities Non-current liabilities Total liabilities Equity Total liabilities and equity Net working capital Net liquidity 38 Schindler 2022 | We Elevate February 16, 2022 | Investor Relations 5 955 49.7 5 365 49.3 1 589 13.3 1 506 13.9 7 544 63.0 6 871 63.2 4 430 37.0 4.006 36.8 11 974 100.0 10 877 100.0 -1 055 -967 3 027 2 669 Schindler