Slide 1: ANDRITZ Group Investor Presentation June 2026
ANDRITZ GROUP I N V E S T O R P R E S E N TAT I O N JUNE 2026
Slide 2: Agenda
AGENDA 01 ANDRITZ AT A GLANCE 02 GROWTH STRATEGY 03 FINANCIAL PERFORMANCE 04 GUIDANCE 2026 & TARGETS 2027 05 Q1 2026 FINANCIAL RESULTS 2
Slide 3: ANDRITZ at a Glance
01 ANDRITZ AT A GLANCE 3
Slide 4: Diversified end markets, high exposure to service and future technologies
A N D R I T Z AT A G L A N C E DIVERSIFIED END MARKETS, HIGH EXPOSURE TO SERVICE AND FUTURE TECHNOLOGIES ANDRITZ GROUP 2025 Order Intake € 8,910 mn Backlog € 10,458 mn Revenue € 7,883 mn Comparable EBITA € 698 mn Service business share 44% PULP & PAPER METALS HYDROPOWER ENVIRONMENT & ENERGY Structur
Slide 5: Key Attributes
A N D R I T Z AT A G L A N C E KEY ATTRIBUTES Our core DNA – strong market positions, resilient business model, high Service share Resilient business model and strong positioning Leading market positions in attractive markets Pulp: #1 Forming: #1 Hydropower: Environment & Paper: #3 Processing: #1-2
Slide 6: Key Attributes
A N D R I T Z AT A G L A N C E KEY ATTRIBUTES Our core DNA – strong market positions, resilient business model, high Service share Strong financials and attractive shareholder return Conservative balance sheet € 713 mn 0.40 ~17x Strong net cash position Net liquidity Debt to equity ratio Interest co
Slide 7: A truly global player, servicing customers worldwide
A N D R I T Z AT A G L A N C E A TRULY GLOBAL PLAYER, SERVICING CUSTOMERS WORLDWIDE REVENUE BY REGION DISTRIBUTION OF EMPLOYEES 2025 Asia (without China) Rest of the world Africa, Australia China 4% 12% Rest of c.1/3 working in engineering, Europe China 8% Asia excl. China 31% 24% Europe technology
Slide 8: Growth Strategy
02 GROWTH STRATEGY 8
Slide 9: Long-term profitable growth
C O R P O R AT E S T R AT E G Y LONG-TERM PROFITABLE GROWTH DECARBONIZATION LONG-TERM PROFITABLE GROWTH DIGITALIZATION • Growth in Revenue • Growth in Profitability • Growth in Service Share CUSTOMER SERVICE 9
Slide 10: New ESG Targets 2030
E S G AT A N D R I T Z NEW ESG TARGETS 2030 Base year 2023 GHG emissions, GHG emissions, relative Water use in ENVIRONMENT E-impact revenue Waste to landfill absolute (SBTi) water-stressed areas* Own operations > 50% Own operations -42% 18 → 10 t/MEUR -25% -25% Value chain -25% * Water-stressed area
Slide 11: ESG performance is externally recognized
E S G AT A N D R I T Z ESG PERFORMANCE IS EXTERNALLY RECOGNIZED Gold in EcoVadis and Prime in ISS ESG, climate targets now validated by the SBTi GOLD RATING RATING TOP 5% PRIME ESG SCORE 53 2024: Bronze 2024: not Prime 2024: ESG Score 47 RATING RATING B RATING MEDIUM RISK BBB ANDRITZ commits to redu
Slide 12: Growth pockets driven by green transition
GREEN PRODUCTS GROWTH POCKETS DRIVEN BY GREEN TRANSITION Business Quotation Construction Operation Service Area Green Hydrogen EE Key enabler of green transition • Developing economically feasible Carbon Capture EE key technologies for the green transition Textile recycling PP • Providing full life
Slide 13: Environment & Energy: comprehensive portfolio of sustainable solutions
ENVIRONMENT & ENERGY COMPREHENSIVE PORTFOLIO OF SUSTAINABLE SOLUTIONS, STRONG MARKET SHARES IN NICHES SEPARATION FEED & BIOFUEL PUMPS CLEAN AIR TECHNOLOGIES GREEN HYDROGEN Offering & industries Emissions reduction equipment Mechanical & thermal, liquid & Pumping technology for water Plant solutions,
Slide 14: Redefining the future: unleashing our innovation engine
I N N O V AT I O N REDEFINING THE FUTURE: UNLEASHING OUR INNOVATION ENGINE R&D at ANDRITZ Among top 500 most research-intensive companies globally* • Global R&D footprint Multiple dedicated research centers across Europe, Asia and North America • R&D team strength >1,200 employees in R&D, technology
Slide 15: Supporting customers throughout plant life cycle
D I G I TA L I Z AT I O N SUPPORTING CUSTOMERS THROUGHOUT PLANT LIFE CYCLE PROCESS OPTIMIZATION PLANT MANAGEMENT ASSET OPTIMIZATION CYBERSECURITY TRAINING Maximize Maximize the Maximize Proactively Boost customer plant process value of data – productivity, manage digital expertise and performance fr
Slide 16: Metris - the open and scalable digital platform
D I G I TA L I Z AT I O N METRIS - THE OPEN AND SCALABLE DIGITAL PLATFORM PULP & PAPER METALS HYDROPOWER ENVIRONMENT & ENERGY Cyber Security built in Asset Process Plant optimization optimization management Latest Gen.AI Autonomous models leveraged Smart products Metris X (soft PLC) Simulation & dig
Slide 17: Broad service portfolio
SERVICE BUSINESS BROAD SERVICE PORTFOLIO Broad Service offering across four business areas Spare parts Wear parts, consumables, fast-turn items, critical components ► Generally high margin products Maintenance & field services On-site repair, inspections, emergency support, shutdown assistance ► 10k
Slide 18: Growth in service business is management priority
SERVICE BUSINESS GROWTH IN SERVICE BUSINESS IS MANAGEMENT PRIORITY Ø Lifecycle Value Contribution (exemplary for Pulp & Paper industry) Significant potential for further growth in Service business 3 14 • Significant Service market size Service market estimated 5-8x larger than Capital market 9 Signi
Slide 19: High service growth
SERVICE BUSINESS HIGH SERVICE GROWTH DEVELOPMENT OF SERVICE REVENUES AND SERVICE REVENUE SHARE Service business: backbone of sustainable, profitable growth • Strong growth and attractive margins, significantly 3,584 3,428 3,473 outperforming the capital business +8% p.a. 3,305 • +8% service revenue
Slide 20: ANDRITZ – a M&A success story
M & A S T R AT E G Y ANDRITZ – A M&A SUCCESS STORY M&A - Strong track record of selection and value creation #33 #90 • M&A focus areas: Acquisitions Acquisitions High service share, digitalization & automation offering, technology additions to since 2018 alone since 2002 complement current value cha
Slide 21: Portfolio expansion in all business areas
PORTFOLIO EXPANSION IN ALL BUSINESS AREAS Acquisitions by business area since 2005 PULP & PAPER METALS HYDROPOWER ENVIRONMENT & ENERGY 2005 Cybermetrics 2018 Novimpianti 2005 Lynson 2006 VA TECH HYDRO 2005 Lenser Filtration 2005 Universal Dynamics Group 2018 Diatec 2008 Maerz 2007 Tigép 2006 CONTEC
Slide 22: Continuation of successful M&A strategy
CONTINUATION OF SUCCESSFUL M&A STRATEGY Major acquisitions of complementary businesses in 2025 PORTFOLIO DECARBONIZATION CUSTOMER CUSTOMER SERVICE SERVICE Q4 Q2 Salico Group (Italy) 2025 LDX Solutions (USA) Q1 Diamond Power (USA) Q2 2025 2025 2025 Metals Environment & Energy Pulp & Paper • Acquisiti
Slide 23: Financial Performance
03 FINANCIAL PERFORMANCE 23
Slide 24: Across-the-cycle growth and gradual EBITA margin improvements
ACROSS-THE-CYCLE GROWTH AND GRADUAL EBITA MARGIN IMPROVEMENTS 8.7% 8.9% 8.9% 8.5% 8.5% 8.3% Across-the-cycle growth 7.5% 7.2% 7.2% • Exposed to various sectors with somewhat 7.1% 7.0% 8,660 6.9% 6.8% 6.9% 6.8% 8,314 phased cycles 6.4% 6.5% 7,883 6.3% 6.1% 6.1% Sovereign debt Covid 7,543 • Increasing
Slide 25: Recovery in backlog to record level
RECOVERY IN BACKLOG TO RECORD LEVEL DEVELOPMENT OF ORDER BACKLOG (in € mn) ORDER BACKLOG BY BUSINESS AREA Q1 2026 12,367 Environment & Pulp & 10,569 10,799 10,822 Energy Paper 10,408 10,457 10,361 10,170 10,398 12% 9,859 9,977 9,873 10,003 9,709 9,750 9,435 9,383 26% 8,166 7,403 7,342 9,199 13% 7,07
Slide 26: Steady cash flow generation
STEADY CASH FLOW GENERATION OPERATING CASH FLOW OPERATING CASH FLOW per quarter in € mn in € mn 346 339 604 711 637 574 653 • Quarterly Operating 567 555 300 530 538 Cash Flow influenced 285 268 462 by operating Working 233 430 Capital fluctuations driven 227 206 375 by project execution cycle 186 1
Slide 27: Strong financial position
STRONG FINANCIAL POSITION Enhanced capital allocation while still maintaining a strong financial position LIQUID FUNDS and NET LIQUIDITY (in € mn) Main changes in Net Liquidity Q1 2026 vs. FY 2025 (in € mn) Acquisition Schuler: Acquisition Xerium: € 600 mn € 770 mn 2,051 +89 Operating cash flow 1,83
Slide 28: Operating net working capital development
OPERATING NET WORKING CAPITAL DEVELOPMENT Further decrease in Operating Net Working Capital in Q1 2026 1,052 982 1,024 980 985 1.200 963 961 886 898 860 Calculation methodology 817 805 1.000 730 13% 671 670 13% 658 687 13% 12% + Inventories 631 12% 12% 617 12% 12% 576 + Trade accounts receivable 10%
Slide 29: Operating net working capital development
OPERATING NET WORKING CAPITAL DEVELOPMENT Seasonal increase in Trade Working Capital in Q1, improving prepayments TRADE WORKING CAPITAL 1,659 1,614 1,532 1,457 1,437 1,482 1,463 Trade Working Capital 1,377 1,243 1,226 1,248 1,246 • Inventories + Receivables - Payables 1,191 1,218 1,222 1,218 1,097 1
Slide 30: Proposed dividend of € 2.70 per share
PROPOSED DIVIDEND OF € 2.70 PER SHARE Increasing dividends with average payout ratio above 50% DIVIDEND PER SHARE (IN €) 2.60 2.70 2.50 2.10 1.65 1.00 2020 2021 2022 2023 2024 2025 PAYOUT RATIO (%) 57.8 50.3 50.7 48.5 51.8 48.1 Ø 51.2% payout ratio 2020 2021 2022 2023 2024 2025 31
Slide 31: Enhanced and balanced capital allocation
ENHANCED AND BALANCED CAPITAL ALLOCATION Increased spending on capex, dividends & M&A - capital allocation remains balanced and funded internally GRADUALLY ENHANCED CAPITAL ALLOCATION (in € mn) BALANCED AND COVERED BY OPERATING CASH FLOW BY 110% 110% 833 100% 5% 711 674 653 344 637 22% 117 530 481 7
Slide 32: ROIC significantly above WACC
ROIC SIGNIFICANTLY ABOVE WACC Increase in ROIC in Q1 2026 DEVELOPMENT ROIC vs WACC 22.6% 22.5% 20.0% 19.5% 17.2% 17.8% ROIC increased in Q1 2026 : 16.9% • Slight growth of EBITA 13.0% • Lower avg. invested capital 12.3% 10.4% • Mainly driven by increased contract liabilities and other liabilities 10
Slide 33: Guidance 2026 & Targets 2027
04 GUIDANCE 2026 & TARGETS 2027 34
Slide 34: Impact of trade barriers, geopolitics & FX
IMPACT OF TRADE BARRIERS, GEOPOLITICS & FX No adverse impact from increasing trade Continued negative FX translation impact barriers and geopolitical escalations yet FX REVENUE TRANSLATION IMPACT PER QUARTER ANDRITZ is a truly global supplier (>280 locations) • The US is among its most important mar
Slide 35: Guidance for 2026 confirmed
GUIDANCE FOR 2026 CONFIRMED ANDRITZ expects to grow revenues and maintain comparable EBITA margins on a high level in 2026 GUIDANCE 2026 Outlook for 2026 Revenue • Project activity stable on high level € 8.0 - 8.3 bn • Revenue growth, supported by record order backlog and Service growth • Improving
Slide 36: Mid-term targets 2027 confirmed
MID-TERM TARGETS 2027 CONFIRMED Mid-term assumptions MID-TERM TARGETS 2027 • Growth in Capital sales, expansion of Service share Revenue • Increasing demand for green technologies • Increasing digitalization, continuation of (bolt-on) M&A € 9 - 10 bn • Improved project execution, selective capacity
Slide 37: Revenue target 2027
REVENUE TARGET 2027 Revenue target Revenue growth 2027 CAGR 4.5% € 9-10 bn (to mid-point) € 9-10 bn € 8.3 bn Incremental growth • Accelerated growth in Service business • Accelerated demand for Base growth Green Products • Growth in Capital sales, • Large-scale orders expansion of Service share • La
Slide 38: Comparable EBITA margin targets 2027
COMPARABLE EBITA MARGIN TARGETS 2027 Comparable EBITA margin target range in % (changed from reported EBITA margin previously) Target 2027 PULP & PAPER 11-13% METALS 11.1 10.0 9.9 11.7 11.1 10.5 11.0 10.8 Margin Target 2027 target 2027 ✓ 6-8% >9% 6.1 5.1 5.5 3.7 2.0 2.0 0.5 -0.8 2018 2019 2020 2021
Slide 39: Q1 2026 Financial Results
05 Q1 2026 FINANCIAL RESULTS 40
Slide 40: Summary - Key figures Q1
SUMMARY - KEY FIGURES Q1 2025 UNIT Q1 2026 Q1 2025 +/- 2025 Order intake € mn 3,597.8 2,332.2 54% 8,909.8 • Record order intake in Q1 2026 driven by Order backlog (end of period) € mn 12,367.4 10,169.8 22% 10,457.5 Hydropower and Pulp & Paper Revenue € mn 1,790.6 1,761.3 2% 7,883.1 EBITDA € mn 190.2
Slide 41: Strong demand for renewable energy, energy storage and grid stability
STRONG DEMAND FOR RENEWABLE ENERGY, ENERGY STORAGE AND GRID STABILITY DEVELOPMENT OF ORDER INTAKE (in € mn) 4,000 3,500 Continuously strong order intake momentum 3,000 2,500 • Record order intake of € 3.6bn in Q1 2026 2,000 1,500 • 6th consecutive quarter of order intake above € 2bn 1,000 500 • Book
Slide 42: Order intake
ORDER INTAKE Record order intake in company history; not to be extrapolated to the coming quarters ORDER INTAKE (in € mn) ORDER INTAKE (in € mn) ORDER INTAKE BY REGION +/- Q1 2026 VS. Q1 2025 (%) +54% Q1 2026 Q1 2025 Pulp & Paper 1,005.8 974.6 3% 3,598 RoW Metals 337.2 345.6 -2% 11% (2%) Hydropower
Slide 43: Revenue
REVENUE Increase in revenue despite continued negative FX translation impact REVENUE (in € mn) REVENUE (in € mn) REVENUE BY REGION +/- Q1 2026 VS. Q1 2025 (%) +2% Q1 2026 Q1 2025 Pulp & Paper 667.4 644.9 3% 1,761 1,791 RoW Metals 394.3 411.8 -4% China 4% (4%) Hydropower 404.0 372.8 8% 11% (12%) Envi
Slide 44: EBITA and margin
EBITA AND MARGIN Growth in EBITA and stable (comparable) EBITA margin EBITA AND EBITA MARGIN* EBITA AND EBITA MARGIN* (COMPARABLE) (REPORTED) Slight growth in EBITA and stable margin +2% +2% • Comparable EBITA margin on high level 145 147 142 145 • Improved project execution (8.2%) (8.2%) (8.1%) (8.
Slide 45: EBITDA to free cash flow bridge Q1 2026
EBITDA TO FREE CASH FLOW BRIDGE Q1 2026 in € mn (184.7)* • CF from changes in NWC (€ mn) 190.2 -63.1 ∆ Inventories - 23.1 +16.2 ∆ Trade receivables (-66.0)* -120.1 ∆ Trade payables - 32.3 - 1.2 -25.3 ∆ Adv. payments made (-37.4)* (3.2)* (73.2)* -45.2 ∆ Contract assets 89.0 - 44.6 +214.4 ∆ Contract l
Slide 46: Pulp & Paper
PULP & PAPER Q1 Q1 FY ORDER INTAKE BY REGION UNIT 2026 2025 +/- 2025 Q1 2026 VS. Q1 2025 (%) Order intake € mn 1,005.8 974.6 3% 3,348.1 Order backlog (as of end of period) 3,212.4 2,728.8 18% 2,833.0 RoW € mn 18% (1%) Revenue € mn 667.4 644.9 3% 2,956.9 Europe EBITDA € mn 87.9 84.9 4% 384.0 China 29
Slide 47: Metals
METALS Q1 Q1 FY ORDER INTAKE BY REGION UNIT 2026 2025 +/- 2025 Q1 2026 VS. Q1 2025 (%) Order intake € mn 337.2 345.6 -2% 1,479.4 RoW Order backlog (as of end of period) € mn 1,605.4 1,813.1 -11% 1,665.6 1% (1%) Revenue € mn 394.3 411.8 -4% 1,694.1 China Europe EBITDA € mn 28.5 29.0 -2% 113.1 31% (23
Slide 48: Hydropower
HYDROPOWER Q1 Q1 FY ORDER INTAKE BY REGION UNIT 2026 2025 +/- 2025 Q1 2026 VS. Q1 2025 (%) Order intake € mn 1,876.8 568.9 230% 2,516.1 RoW Order backlog (as of end of period) € mn 6,060.2 4,088.5 48% 4,535.2 11% (2%) China Europe Revenue € mn 404.0 372.8 8% 1,729.5 0% (0%) 19% (55%) EBITDA € mn 33.
Slide 49: Environment & Energy
ENVIRONMENT & ENERGY Q1 Q1 FY ORDER INTAKE BY REGION UNIT 2026 2025 +/- 2025 Q1 2026 VS. Q1 2025 (%) Order intake € mn 378.0 443.1 -15% 1,566.2 RoW Order backlog (as of end of period) € mn 1,489.4 1,539.4 -3% 1,423.7 4% (6%) China Revenue € mn 324.9 331.8 -2% 1,502.6 14% (18%) EBITDA € mn 40.5 41.0
Slide 50: Legal Disclaimer
LEGAL DISCLAIMER © ANDRITZ AG 2026 This presentation contains valuable, proprietary property belonging to ANDRITZ AG or its affiliates (“the ANDRITZ Group”), an d no licenses or other intellectual property rights are granted herein, nor shall the contents of this presentation form part of any sales
Slide 51: ANDRITZ. For growth that matters.
ANDRITZ. FOR GROWTH THAT MATTERS. 52