CPH Group AG Class A · SIX:CPHN
CPH Group AG Class A — Investor Presentation (November 2026)
47 slides from CPH Group AG Class A's investor presentation, Nov 9, 2026
Slide 1: A global leader in pharmaceutical packaging and attractive specialty chemicals niches
A global leader in pharmaceutical packaging and attractive specialty chemicals niches Welcome to the 2026 Investors’ Meeting 9 November 2026 | Zurich 1
Slide 2: Disclaimer
Disclaimer Investing in the shares of CPH Group AG involves risks. Prospective investors are urged to consult their investment advisors and tax advisors prior to investing in CPH Group AG shares. This document contains forward-looking statements which involve risks and uncertainties. These statement
Slide 3: Agenda
Agenda CPH Group Divisions Value Outlook at a glance in focus creation 2027 and beyond Alois Waldburg-Zeil Marc Haller Gerold Brütsch Alois Waldburg-Zeil Alois Waldburg-Zeil CPH Group Investors' Meeting of 9 November 2026 | Zurich 3
Slide 4: Speakers
Speakers Alois Waldburg-Zeil Marc Haller Gerold Brütsch CEO CPH Group (since 2025) CEO Perlen Packaging (since 2022) CFO CPH Group (since 2022) CEO Zeochem (since 2010) CPH Group Investors' Meeting of 9 November 2026 | Zurich 4
Slide 5: CPH Group at a glance
CPH Group at a glance A global leader in pharmaceutical packaging and specialty chemicals niches Müllheim 2007 Tököl 2025 CPH Group Donghai Louisville Whippany Zvornik 2016 o Two focused divisions 1979 2006 2018 Suzhou Québec 2016 2025 o Leading positions in attractive niches o Exposure to structura
Slide 6: Global player with two well-positioned divisions
CPH Group at a glance Global player with two well-positioned divisions Perlen Packaging Zeochem 219 26 Key figures for 2025 in CHF millions 115 24 Sales EBITDA Sales EBITDA Differentiation through high customer value Focused growth strategy Differentiation through high customer value Worldwide among
Slide 7: Strong global megatrends supporting growth
CPH Group at a glance Strong global megatrends supporting growth Megatrends Markets Applications Products Division Sales share Pharmaceutical Medicines packaging Respirators Health Pharmaceuticals Medical oxygen Molecular sieves 75% Chromatography gels APIs Deuterated compounds Natural gas/LNG Energ
Slide 8: M&A framework
CPH Group at a glance M&A framework Objective Complement organic growth and create sustainable shareholder value GUIDING PRINCIPLES Strategic fit Financial impact Operational integration Alignment with core markets in Clear path to value creation Strong management and packaging and specialty cultura
Slide 9: Recent M&A transactions
CPH Group at a glance Recent M&A transactions SiliCycle, Canada LOG Pharma, Israel/Hungary Sorbchem, India July 2025 February 2025 January 2024 Rebranded to Zeochem Silica Materials1 Rebranded to Zeochem India1 o World leader in high-value o High-barrier packaging for solid and o Manufacturer of chr
Slide 10: Agenda
Agenda CPH Group Divisions Value Outlook at a glance in focus creation 2027 and beyond Alois Waldburg-Zeil Marc Haller Gerold Brütsch Alois Waldburg-Zeil Alois Waldburg-Zeil CPH Group Investors' Meeting of 9 November 2026 | Zurich 10
Slide 11: Perlen Packaging
Perlen Packaging
Slide 12: Perlen Packaging – leader in highest-barrier blister films
Perlen Packaging – leader in highest-barrier blister films Positioning o No. 1 worldwide in highest-barrier PVC/PVdC blister films o Pure-play pharma packaging specialist o One-stop shop through the acquisition of LOG Pharma, a provider of bottles and containers (2025) Specialist in pharmaceutical p
Slide 13: Unique position in pharmaceutical packaging
Perlen Packaging – leader in highest-barrier blister films Unique position in pharmaceutical packaging Whippany Müllheim Tököl Suzhou 2006 2007 2025 2016 Key figures 2025 Employees in CHF millions 784 Sales As of 2025 219 Global presence close to 5-year CAGR 6.5% customers o 7 production sites EBITD
Slide 14: Global pharmaceutical packaging market
Perlen Packaging – leader in highest-barrier blister films Global pharmaceutical packaging market Global pharmaceutical Global pharmaceutical blister market bottle market CHF 2 billion 1 8 CHF billion1 Growth drivers o Population growth shifting Growth Growth towards older age groups 3-6%2 p.a. 3-6%
Slide 15: Pharmaceutical packaging with best protection for medicines
Perlen Packaging – leader in highest-barrier blister films Pharmaceutical packaging with best protection for medicines Blister films for tablets Low barrier High barrier Bottles and containers Std. HDPE bottle CPH Group Investors' Meeting of 9 November 2026 | Zurich 15
Slide 16: Why pharma packaging needs a barrier
Perlen Packaging – leader in highest-barrier blister films Why pharma packaging needs a barrier During its required shelf life, the API is sensitive to: Moisture O2 Oxygen Light Characteristics of modern APIs Low solubility Low dissolution Low absorption Low bioavailability Additives improve solubil
Slide 17: Solutions for a more sustainable future
Perlen Packaging – leader in highest-barrier blister films Solutions for a more sustainable future Decarbonization starts now PERLALUX® Mono DeCarb Eco Sustainable Barrier Packaging o Bio-circular raw materials and renewable energy o Pharmaceutical-grade HDPE resin with excellent enable PVC mono fil
Slide 18: Growth initiatives to compound profitable growth
Perlen Packaging – leader in highest-barrier blister films Growth initiatives to compound profitable growth Target vision A scalable platform 1 Lead in high- and ultra-barrier films: increase the mix of differentiated barrier films and across blister films, accelerate PFAS-free Aclar replacement sol
Slide 19: Why customers choose Perlen Packaging
Perlen Packaging – leader in highest-barrier blister films Why customers choose Perlen Packaging 1 Protecting the drug: industry-leading barrier performance 2 Reducing the risk: 100% pharma-focused expertise 3 Securing supply: global manufacturing close to customers 4 Solving tomorrow’s challenges:
Slide 20: Zeochem
Zeochem
Slide 21: Zeochem – global niche player in specialty chemicals
Zeochem – global niche player in specialty chemicals Positioning o Grown into an international specialty chemicals company o Molecular sieves as core business, ranking among the three global market leaders, with a focus on quality o Global chromatography gel platform through acquisition of SiliCycle
Slide 22: Leading market position backed by global megatrends
Zeochem – global niche player in specialty chemicals Leading market position backed by global megatrends Louisville Québec Zvornik Donghai 1979 2025 2018 2016 Key figures 2025 Employees in CHF millions 452 Sales As of 2025 115 Global presence close to 5-year CAGR 4.8% customers o 6 production sites
Slide 23: Product portfolio improves quality of life and enables energy transition
Zeochem – global niche player in specialty chemicals Product portfolio improves quality of life and enables energy transition Molecular Deuterated Chromatography sieves compounds gels Market growth 2-3%1 10%1 5-10%1 Position Top 3 Top 3 Strategic value Core / cash generation High-value growth High-v
Slide 24: Molecular sieves for industrial applications
Zeochem – global niche player in specialty chemicals Molecular sieves for industrial applications Molecular sieves are used to Market overview Value for customers remove unwanted molecules in Fragmented global market with natural and industrial gases and growth Health 2-3 liquids. Molecular sieves a
Slide 25: Deuterated compounds for pharmaceuticals and electronics
Zeochem – global niche player in specialty chemicals Deuterated compounds for pharmaceuticals and electronics Deuterated compounds are Market overview Value for customers molecules in which hydrogen Fragmented global market with atoms are replaced by deuterium. growth Health 10 They are used in phar
Slide 26: Chromatography gels for pharmaceuticals
Zeochem – global niche player in specialty chemicals Chromatography gels for pharmaceuticals Derivatized chromatography gels Market overview Value for customers selectively bind target molecules, Fragmented global market enabling efficient separation and with growth Health 5-10 purification. o Highe
Slide 27: Comprehensive chromatography gels portfolio through M&A
Zeochem – global niche player in specialty chemicals Comprehensive chromatography gels portfolio through M&A Main focus Chromatography gels for the Chromatography gels for use in High-quality chromatography gels packaging and pharmaceutical the pharmaceutical sector for separation processes in secto
Slide 28: Growth initiatives to compound profitable growth
Zeochem – global niche player in specialty chemicals Growth initiatives to compound profitable growth Target vision A global niche platform 1 Scale chromatography gels: build a global gels platform on SiliCycle, Sorbchem and across molecular sieves, Zvornik; focus on pharma and peptide purification
Slide 29: Why customers choose Zeochem
Zeochem – global niche player in specialty chemicals Why customers choose Zeochem 1 Pursuing a clear mission: enabling customers in healthcare and energy to improve product performance and profitability 2 Leveraging global expertise: R&D and application knowledge shared across sites 3 Ensuring secur
Slide 30: Agenda
Agenda CPH Group Divisions Value Outlook at a glance in focus creation 2027 and beyond Alois Waldburg-Zeil Marc Haller Gerold Brütsch Alois Waldburg-Zeil Alois Waldburg-Zeil CPH Group Investors' Meeting of 9 November 2026 | Zurich 30
Slide 31: Proven growth, profitability and cash generation
Value creation Proven growth, profitability and cash generation Sales Sales by region Sales by application in CHF millions in CHF millions in CHF millions CAGR 5.9% 400 400 400 300 300 300 200 200 200 100 100 100 0 0 0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Europe
Slide 32: Disciplined capital allocation
Value creation Disciplined capital allocation Disciplined allocation of cash to growth and shareholder returns Objective Sustainable value creation while maintaining financial flexibility 1 2 3 4 Invest in the Pursue targeted Maintain resilience Return capital business M&A Fund maintenance capex Str
Slide 33: Key financial priorities
Value creation Key financial priorities Converting growth into sustainable profitability and cash generation 1 3 Performance and cash Capital allocation Strengthen margins, working capital Prioritize organic investments and discipline and free cash flow M&A through return- and risk-based conversion
Slide 34: Agenda
Agenda CPH Group Divisions Value Outlook at a glance in focus creation 2027 and beyond Alois Waldburg-Zeil Marc Haller Gerold Brütsch Alois Waldburg-Zeil Alois Waldburg-Zeil CPH Group Investors' Meeting of 9 November 2026 | Zurich 34
Slide 35: Mid-term targets
Outlook 2027 and beyond Mid-term targets Growth Profitability Cash flow Financing Dividend Sales EBITDA Free cash Equity Payout increase margins flow margins ratio ratio 5-8% 16-18% 8-10% >50% 40-60% (previously: 25-50%) CPH Group Investors' Meeting of 9 November 2026 | Zurich 35
Slide 36: Path to mid-term targets
Outlook 2027 and beyond Path to mid-term targets Organic growth Portfolio expansion Margin improvement Cash conversion Pharma demand, Synergies, stronger Mix, utilization and Working capital and attractive niches and sales, cross-selling productivity disciplined capex geographic expansion and innova
Slide 37: Reasons to invest in CPH Group
Outlook 2027 and beyond Reasons to invest in CPH Group Leadership in Structural growth Multiple growth Attractive Significant value- attractive niches exposure levers financial model creation potential Top-3 positions with Health and energy High-value mix, Profitable growth, Integration, scale high
Slide 38: Q&A
Q&A CPH Group Investors' Meeting of 9 November 2026 | Zurich 38
Slide 39: Appendix
Appendix CPH Group Investors' Meeting of 9 November 2026 | Zurich 39
Slide 40: Calendar and contacts
Appendix Calendar and contacts Calendar Analysts 09.11.2026 Baader Helvea CPH Group Investors’ Meeting, Zurich Volker Bosse Contacts 13.–15.01.2027 Research Dynamics Alexandre Müller Dr. Alois Waldburg-Zeil Baader Helvea Swiss Equities CEO Conference, Bad Ragaz +41 41 455 87 67 Research Partners 18.
Slide 41: Consolidated income statement half-year 2026 I
Appendix Consolidated income statement half-year 2026 I 1 Net sales 0.1% above prior-year period, 01.01.-30.06., in CHF millions 2026 % 2025 % ± ±% thereof +3.8% from acquisitions and –3.7% due Net sales 1 176.1 100.0 176.0 100.0 +0.1 +0.1% to FX Other operating income 1.4 0.8 1.8 1.0 Organic growth
Slide 42: Consolidated income statement half-year 2026 II
Appendix Consolidated income statement half-year 2026 II 1 Depreciation and amortization above prior 01.01.-30.06., in CHF millions 2026 % 2025 % ± ±% year as a consequence of acquisitions and EBITDA 28.3 16.1 30.2 17.2 -1.9 -6.3% prior-year capital expenditures Depreciation expense 1 -9.3 -5.3 -8.3
Slide 43: Consolidated balance sheet half-year 2026
Appendix Consolidated balance sheet half-year 2026 1 Increase in total assets by CHF 24.0 million in CHF millions 30.06.2026 % 31.12.2025 % ± ±% mainly driven by temporary seasonal increase Cash and cash equivalents 33.0 8.4 27.0 7.3 in trade receivables and cash Trade receivables 72.9 18.6 56.5 15.
Slide 44: Consolidated cash flow statement half-year 2026
Appendix Consolidated cash flow statement half-year 2026 1 Cash flow from operating activities above 01.01.-30.06., in CHF millions 2026 % 2025 % ± ±% prior-year period after prior-year period’s Net result 14.3 8.1 17.1 9.7 -2.8 -16.4% significant temporary increase in net working Non-cash items 8.7
Slide 45: Perlen Packaging key figures half-year 2026
Appendix Perlen Packaging key figures half-year 2026 01.01.-30.06., in CHF millions 2026 2025 ± ±% Business development Sales 118.5 118.4 +0.1 +0.1% o Return to sales mix with increased share of higher-value EBITDA 18.2 17.8 +0.4 +2.0% blister packaging EBITDA margin 15.3% 15.0% o Sales volume and p
Slide 46: Zeochem key figures half-year 2026
Appendix Zeochem key figures half-year 2026 01.01.-30.06., in CHF millions 2026 2025 ± ±% Business development Sales 57.6 57.5 +0.1 +0.1% o Positive development in molecular sieves for the EBITDA 10.0 12.2 -2.2 -18.1% energy and chemicals sectors EBITDA margin 17.3% 21.2% o Strong competition for li
Slide 47: Guidance 2026
Appendix Guidance 2026 CPH Group o Long-term megatrends of health and energy are intact o Expanded product portfolio through recent acquisitions strengthens market position and competitiveness in both divisions o Market conditions remain challenging o Sales and EBITDA expected slightly higher than i