Investor Presentaiton

SULZER Summary for credit investors ■ Significant market headwinds in 2015 expected to continue in 2016 - rebound will lead to over-proportional margin expansion ■Unleashing Sulzer's Full Potential ■ ☐ SFP accelerated and cost savings target increased from CHF 120-180m to CHF ~200m from 2018 onwards Additional cost savings of CHF ~60-80m expected in 2016 Sulzer narrowed profitability gap versus top tier competitors in 2015 Commitment to financial discipline and investment grade credit profile Confidence in Sulzer's strong free cash flow generation and SFP Keeping sufficient headroom for accretive M&A ■ ☐ Sulzer continues to have a net cash position and one of the strongest balance sheets in its industry (post special dividend; with CHF 500m bond fully refinanced) ■ Highly cash-generating business 29 29 Bond Investor Presentation SULZER Reconciliations and supplementary slides 30 Bond Investor Presentation

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