Oerlikon Investor Presentation

Consolidated 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

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