Slide 1: Q3 2025 Sales
Q3 2025 Sales October 23, 2025 Luc Themelin Thomas Baumgartner CEO CFO
Slide 2: Q3 in line with first-half in contrasting global market environment
Q3 in line with first-half in contrasting global market environment Q3 Recovery in the Reported Sales Reported sales Strong growth silicon semicon Q3 2025 9 months 2025 in rail, wind and market power €285 m €895 m electronics Low level of sales in solar and SiC -4.3% organic -4.1% organic semicon 2
Slide 3: Pricing power remains strong
Pricing power remains strong Negative currency effects offset by external growth contribution 9 months 2025 sales in €m +€21 m -€22 m +€12 m Mainly solar and Currency €933 m scope effects -€49 m SiC semicon (conversion) pricing business €895 m 9 months 2024 9 months 2025 3 Mersen - Q3 2025 sales
Slide 4: Mixed trends across markets, with transportation markets remaining dynamic
Mixed trends across markets, with transportation markets remaining dynamic 9% of sales CHEMICALS - 34.5% of sales 17% of sales PROCESS INDUSTRIES TRANSPORTATION - + €895 m -4.1%* 18% of sales ENERGY 21.5% of sales -- ELECTRONICS -- Organic growth 9 months 2025 vs 9 months2024 + + 0% ; +10% - -5% ; 0
Slide 5: Resilience in North America and accelerated growth in the Electrical Power segment in the third quarter
Resilience in North America and accelerated growth in the Electrical Power segment in the third quarter Group Q3 2025 sales €285 M €91 M Organic growth Organic growth -4.3% -5.9% ADVANCED MATERIALS Europe €141 M North America Organic growth -15.3 % €124 M Asia-Pacific ELECTRICAL POWER Organic growth
Slide 6: Expected market trends for Q4 2025
Expected market trends for Q4 2025 • Energy • Low level of sales in solar • Good momentum in wind energy • Electronics • Continued recovery in Si semicon • Sequential improvement in SiC semicon, which will however remain subdued • Ongoing projects in power conversion for electricity transmission (HV
Slide 7: 2025 guidance revised to the lower end of the initial guidance, with disciplined capex
2025 guidance revised to the lower end of the initial guidance, with disciplined capex reflecting market conditions Sales Profitability Capex EBITDA margin before non recurring items Between €140 M and Organic growth of sales around 16 % €150 M of between -5% and -3% (previously between 16 % (previo
Slide 8: QUESTIONS
QUESTIONS