Investor Presentaiton

Market assessment for 2016: O&G continues to be weak, flat to slight growth in other segments SULZER 2016 market assessment Oil & Gas Power Water General Industries 50% 16% 13% 21% ■ Further capex and opex reductions Pricing under pressure ■ Conventional and nuclear growth driven by China and India ■ Low gas price continues to impact energy mix in the US ■ Low O&G increases competition in Power Growth driven by municipal wastewater and clean water Opportunities in large water infrastructure projects globally ■ Positive outlook for pulp and paper and health care ■ Outlook for services flat due to weak metals and mining Uncertainty about China's growth Ol share 2015 Financial guidance 20161 27 Order Intake² down 5-10% Sales2 down 5-10% Operational ROSA³ % around 8% 1. As of February 25, 2016 23 2. 3. Adjusted for currency effects Operational EBITA divided by sales Bond Investor Presentation SULZER 28 Bond Investor Presentation

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