Investor Presentaiton

Agenda Introduction to Sulzer Market Update Sulzer Full Potential Key Financials Outlook O&G market challenging Upstream SULZER 11 Bond Investor Presentation Oil and Gas SULZER Order intake 2015 vs 2014 (-13%1) 50% Midstream Downstream ~16% -4% ■ Midstream construction slowed notably Activity strongly impacted Significant price pressure Aftermarket impacted by postponements of non-essential work Ol share 2015 1. Adjusted for currency effects 12 " -30% High refinery utilization building opportunity pipeline Postponements of major non- essential maintenance work China challenging Petrochemical stable Bond Investor Presentation

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