Investor Presentaiton

SULZER Other Sulzer segments proved resilient Power Water General Industry Order intake 2015 vs 2014 16% 13% 21% ■ Good activity levels in Asia driven by China and India ■ US driven by gas, EMEA overall slow ■ Low O&G activity levels drove increased competition in power ■ Solid municipal water market in US and China ■ Engineered Water: active desalination in Middle East and South East Asia Large water infrastructure projects active globally ■ Overall positive environment particularly in Pulp and Paper and in Healthcare ■ Weaker Metals and Mining, impacting also aftermarket ■ China remained key demand driver for many segments Pricing pressures increased Ol share 2015 Agenda Introduction to Sulzer Market Update Sulzer Full Potential Key Financials Outlook 15 16 Bond Investor Presentation SULZER Bond Investor Presentation

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