Slide 1: Shaping the future of high-speed wireless communications
Shaping the future of high-speed wireless communications HY2026 Results Presentation February 2026 Nat Edington, CEO Michael Tyerman, CFO 1
Slide 2: A leader in high performance Radio Frequency systems
A leader in high performance Radio Frequency systems A trusted RF partner Embedded in every step of the communication journey • Five decades experience designing and manufacturing mission critical RF components and subsystems, supported by world class facilities and RF engineering talent • Specialis
Slide 3: Filtronic RF solutions across the spectrum
Filtronic RF solutions across the spectrum Global leadership in very high- frequency communications Aerospace & Defence Space 1MHz - 90GHz 1GHz - 175GHz Terrestrial Telecommunications 700MHz - 175GHz 1MHz 1GHz 2GHz 4GHz 8GHz 12GHz 18GHz 27GHz 40GHz 75GHz 110GHz 170GHz 300GHz 3
Slide 4: HY 2026 – delivering commercial momentum
HY 2026 – delivering commercial momentum REVENUE CONTINUED GROWING THE D I V E R S I F I C AT I O N & DISCIPLINED ADDRESSABLE VISIBILITY INVESTMENT MARKET Entering H2 with record order book Self-funded relocation to a larger High power GaN products represent headquarters and manufacturing a step cha
Slide 5: Capturing the medium-term market opportunity
Capturing the medium-term market opportunity Budget and market Infrastructure Technology growth roll-out innovation Global Shift to Move to satellite Increasing Accelerating Global roll- higher design in of GaAs to GaN comms military launch of out of base spectrum solid-state technologies market rap
Slide 6: New purpose-built facility
New purpose-built facility • Move of headquarters to new state of the art facility is complete • 44,000 sqft manufacturing and office space • 6x cleanroom area – ISO7, 8 and 9 zones, making it the most advanced manufacturing space for our applications • Secure cell for specialist defence contracts •
Slide 7: Financial review
Ofiltronic Financial review
Slide 8: Revenue similar to HY 2025 despite fx headwind
Revenue similar to HY 2025 despite fx headwind Group revenue £25.3m (H1 2025: £25.6m) Space • The space market remains robust despite fx headwinds. SpaceX demand now in a constant state of output. Stepped sales price change to achieve target pricing but cost reduction initiatives to protect margin.
Slide 9: Investing for growth – substantial market opportunity
Investing for growth – substantial market opportunity Investment manifesting itself in record order book and scale of opportunity pipeline • Higher volume on a lower sales price coupled with adverse exchange impact on revenue has led to weakened contribution margin. • Continued opex investment to ca
Slide 10: Significantly strengthened balance sheet
Significantly strengthened balance sheet Capitalised development costs Nov-25 May-25 Nov-24 • Conservative approach to capitalisation of development £m £m £m costs with ~25% of total R&D spend. Goodwill and intangible assets 4.5 3.5 2.6 Right of use assets 4.5 4.5 3.8 • Execution of space technology
Slide 11: Cash position supports continued investment
Cash position supports continued investment Nov-25 May-25 Nov-24 £m £m £m Net cash generated from operating activities 3.4 13.8 2.1 Net cash used in investing activities (7.3) (5.6) (2.0) Net cash used in financing activities (0.1) (0.9) (0.1) Movement in cash and cash equivalents (4.0) 7.3 0.0 Curr
Slide 12: CFO summary
CFO summary Outlook Delivery Investment Record order book provides significant • Maintain R&D spend of 13% of revenues, as order coverage against market forecast. we see considerable opportunity ahead. Headwinds from weak USD have • Expand the product portfolio to cover the impacted H1 but high
Slide 13: Strategy update
Ofiltronic Strategy update
Slide 14: Delivering on five-year growth plan – H1 momentum
Delivering on five-year growth plan – H1 momentum Key customer and new Five-year technology strategic customer Must win projects Moving up the value and relationship across sectors chain product roadmap development New GaN amplifiers Systems team built in SpaceX largest contract to Revamp of
Slide 15: Cerus V family launching this year
Cerus V family launching this year The only Solid State Power Amplifier family capable of supporting all satellite orbits $3B SAM in next 10 years 50W / 100W 200W 400W 15
Slide 16: Building a more diversified RF business
Building a more diversified RF business Distribution of others • Customer concentration reflects early-stage Space Customer 5 customer order intake forecast for FY2026 production ramp with SpaceX. Defence Customer 2 without main • Projected to receive initial orders this FY customer from 4 new major
Slide 17: Outlook
Outlook • Investments made in capacity, capability and technology are delivering tangible commercial successes • Entered H2 with record order book, increased customer diversification, and deepening engagements across core markets • Confident in market expectations of FY2026 revenues and profitabilit
Slide 18: Why Filtronic?
Why Filtronic? Market leading expertise in high Strategically positioned at the intersection Innovation roadmap driving next- performance RF technology of Space and Aerospace & Defence generation connectivity Founded in 1977, Filtronic, underpinned by a Surface, Sky & Space positioning spans all hig
Slide 19: Qfiltronic
Qfiltronic
Slide 20: Filtronic Disclaimer
Filtronic Disclaimer IMPORTANT NOTICE This presentation and any verbal information given (together, the “Presentation”), has been No representations or warranties of any kind are made by any person as to the accuracy of prepared by the directors of Filtronic plc (the “Company”). The information in t