Colt Cz Group Se · PSECZ:COLT
Colt Cz — Investor Day (April 2026)
51 slides from Colt Cz's investor day presentation, Apr 13, 2026
Slide 1: Colt CZ Group SE Capital Markets Day 2026
COLT CZ GROUP SE CAPITAL MARKETS DAY 2026
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER IMPORTANT – MUST READ THE FOLLOWING BEFORE CONTINUING NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, OR JAPAN OR IN ANY OTHER JURISDICTION WHERE TO DO SO WOULD BE RESTRICTED OR PROHIBITED BY LAW . Th
Slide 3: Presenters
PRESENTERS RADEK MUSIL ONDŘEJ PALÁT Vice -chairman of the Board of Directors Head of M&A CEO of Colt CZ Group SE Colt CZ Group SE JANA MATOUŠKOVÁ KLÁRA ŠÍPOVÁ Group CFO Investor Relations Colt CZ Group SE Colt CZ Group SE 3
Slide 4: Leading manufacturer of firearms, ammunition, and energetic nitrocellulose
LEADING MANUFACTURER OF FIREARMS, AMMUNITION, AND ENERGETIC NITROCELLULOSE A global organization with a Vertically integrated defense ~50/50 split of MLE / Commercial production footprint across 13 sites, platform, active in three key sales (1), featuring repeatable volumes, and iconic brands, inclu
Slide 5: Colt CZ Transformation: Growth from 2020 IPO
COLT CZ TRANSFORMATION: GROWTH FROM 2020 IPO
Slide 6: A journey of transformational growth since 2020 IPO
A JOURNEY OF TRANSFORMATIONAL GROWTH SINCE 2020 IPO Acquired a majority Executed IPO on the Rebranded to Colt CZ Completed the largest stake in Synthesia Czech prime market , Group , highlighting the ABB in the Czech Nitrocellulose , raising a total of CZK integration of Colt and market since 2016,
Slide 7: Strong historical financial results with focus on efficiency
STRONG HISTORICAL FINANCIAL RESULTS WITH FOCUS ON EFFICIENCY 2025 financials exclude Synthesia Nitrocellulose and Synthesia Power Revenue trajectory since IPO, CZKm n Adjusted EBITDA trajectory since IPO, CZKm n Net debt trajectory since IP O, CZKm n Growth (%, year -on -year) Margin (%) Net leverag
Slide 8: Clear M&A rationale and track record
CLEAR M& A RATIONALE AND TRACK RECORD Strong strategic rationale for M&A M&A track record since 2020 Colt, Colt Canada - 2021 Strengthened North American footprint with Firearms development + manufacturing Geographic iconic Colt brand name North American MLE penetration expansion Gained access to la
Slide 9: Operational and strategic execution translated to shareholder value
OPERATIONAL AND STRATEGIC EXECUTION TRANSLATED TO SHAREHOLDER VALUE Colt CZ total shareholder return since IPO TSR (1) analysis 500.0% TSR(1) Total return since +311% 400.0% Oct-2020 +311.4% 300.0% +209% L5Y +219.8% 200.0% L3Y +92.7% L1Y +47.7% +23% 100.0% L6M +29.4% 0.0% L3M +31.3% (1) (1,2) (1,3)
Slide 10: Colt CZ's strategic pivot to get ahead in a changing market
COLT CZ ’S STRATEGIC PIVOT TO GET AHEAD IN A CHANGING MARKET European NATO member defense budgets, EURbn Market changes Strategic shift Defense spending increase 900 Acquired largest player in and limited supply: critical bottleneck of the 807bn ► Build up of budgets to >3.5% defense supply chain -
Slide 11: Market advantage, operating at the intersection of firearms, ammunition, and energetics
MARKET ADVANTAGE, OPER A TING AT THE INTERSECTION OF FIREARMS, AMMUNITION, AND ENERGETICS SEGMENTS Firearms & ammunition Energetics & propellants (1) Colt CZ is one of few players, operating at the intersection of the fragmented firearms & ammunition as well as high -barrier energetics markets 11 No
Slide 12: Where Colt CZ stands now: diversification & resilience
WHERE COLT CZ STANDS NOW: DIVERSIFICATION & RESILIENCE
Slide 13: Colt CZ 2025 financial results: diversification & resilience
COLT CZ 2025 FINANCIAL RESULTS: DIVERSIFICATION & RESILIENCE Revenues by geography, % of total revenues Europe (incl. Czech Republic & Ukraine) USA Rest of the World 15% Reduced reliance 28% 29% on US market 48% Maintaining customer relationships 2022 2025 while increasing exposure to a diversified
Slide 14: Global production presence unlocks access to local-made markets
GLOBAL PRODUCTION PRESENCE UNLOCKS ACCESS TO MARKETS WITH “LOCAL MADE” REQUIREMENTS Firearms Ammunition Energetics COLT CANADA SYNTHESIA 4M SYSTEMS (1) NITROCELLULOSE SPUHR I DALBY (1) CZ -USA SWISSAA , SALTECH DAN WESSON SELLIER & BELLOT COLT HALTECH ČESKÁ ZBROJOVKA VALLEY STEEL COLT CZ STAMP HUNGA
Slide 15: Colt CZ has a diversified, global customer base
COLT CZ HAS A DIVERSIFIED, GLOBAL CUSTOMER BASE Selected MLE customers in 2024 and 2025 Firearms Ammunition Firearms & Ammunition Key takeaways Risk reduction with diversification Full coverage of Europe & North America with separate supply chains Network synergies, 47% countries supplied with both
Slide 16: Key MLE delivery contracts and pipeline
KEY MLE DELIVERY STRONG CONTRACTS (2026 PIPELINE WITH - 2031)BACKLOG FOR MLE OVER USD 2b n Selected, based on publicly disclosed information Framework contract with German Army Canadian Defence Investment Agency - NATO -type small arms ammunition: (Bundeswehr ) - P13 handguns based replacement for t
Slide 17: Wide range of products for MLE and commercial segments
WIDE RANGE OF PRODUCTS FOR MLE AND COMMERCIAL SEGMENTS Non -exhaustive MLE Commerical Firearms & Accessories Ammunition Energetics h h Polymer pistols Tactical and protective equipment h h Submachine guns, Rifles NATO and Russian standard calib er s h Mounting systems h h h h Grenade Hand grenades,
Slide 18: Key brands - overview in firearms
KEY BRANDS - OVERVIEW IN FIREARMS Česká Zbrojovka Main European small arms production facility of Colt CZ, located in Uherský Brod, Czech Republic Original brand in the Colt CZ Group, founded in 1936 One of largest small arms manufacturer globally , active in Transfer of Technology Boasts progressiv
Slide 19: Key brands - overview in ammunition
KEY BRANDS - OVERVIEW IN AMMUNITION Sellier & Bellot Main ammunition production facility of Colt CZ, located in Vlašim, Czech Republic Acquired by Colt CZ Group in 2024, founded 1825 Top 2 European supplier of small caliber ammunition Highly self sufficient with in -house production of all ammunitio
Slide 20: Key brands - overview in accessories
KEY BRANDS - OVERVIEW IN ACCESSORIES Colt Optics Specialist in design and manufacturing of advanced electrooptical devices, located Michigan, USA Public launch of Colt Optics in January 2026, first product launch planned for May 2026 Products focused on premium category, in both the professional and
Slide 21: Key brand - overview of energetics
KEY BRAND - OVERVIEW OF ENERGETICS Strategic acquisition at fair market price Acquired 51% of Synthesia Nitrocellulose & Synthesia Power on January 6th 2026 Based in the Czech Republic with fully integrated production , including nitric acid and own power generation infrastructure Key product is Nit
Slide 22: Corporate Affairs
Me AFFAIRS COLT CZGROUP
Slide 23: Colt CZ Group leadership: Board of Directors
COLT CZ GROUP LEADERSHIP: BOARD OF DIRECTORS RADEK MUSIL JAN ZAJÍC Vice Chairman of the Board of Directors Member of the Board of Directors CEO of Colt CZ Group CEO of Česká Z brojovka JOSEF ADAM VLADIMÍR RADA Vice -Chairman of the Board of Directors Member of the Board of Directors General Counsel
Slide 24: Colt CZ Group leadership
COLT CZ GROUP LEADERSHIP Colt CZ Group Supervisory Board Non - board key leadership JAN DRAHOTA RENÉ HOLEČEK FOUR -STAR GENERAL (Ret.) GEORGE CASEY Chairman of the Supervisory Board Member of the Supervisory Board Member of the Board of Directors, Colt CZ Group North America, Inc. Former US Army Chi
Slide 25: Colt CZ sustainability journey
COLT CZ SUSTAINABILITY JOURNEY 2019 -2021 2022 -2023 2024 -2025 2026+ Group sustainability foundation Strategic initiatives to accelerate Group becoming CSRD ready Sustainability fully integrated in laid out through data collections ESG development with validated datapoints Group ′s processes, finan
Slide 26: The next chapter: accelerating and profitable growth
THE NEXT CHAPTER: ACCELERATING AND PROFITABLE GROWTH
Slide 27: 2026 financial guidance
2026 FINANCIAL GUIDANCE Growth driven by introduction of the energetics segment and strong MLE contracts Colt CZ management KPIs target top end of guidance range CZK 30 -33bn CZK 7.4 -8.2bn Revenues Adj. EBITDA CZK 50 1 4.23% Adj. EPS Net interest 27 (Notes): (1) Adjusted EPS before amortisation of
Slide 28: Guidance 2026: integration of the energetics segment
GUIDANCE 2026: INTEGRATION OF THE ENERGETICS SEGMENT Major step in both revenues and profitability Revenues, CZKmn Adjusted EBITDA, CZKmn ~35% Margin (%) growth (1) 20% 25% 25% 30,000 – 33,000 ~67% 28,300 growth (1) 23,399 7,100 7,400 - 8,200 4,661 FY25 Colt CZ FY 2025 Pro- FY 2026 FY25 Colt CZ FY 2
Slide 29: New group in 2026: balanced product portfolio
NEW GROUP IN 2026: BALANCED PRODUCT PORFOLIO Three strong , complimentary, independent pillars ensur e stability and growth Firearms Ammunition Energetics 1/3 1/3 1/3 of total adj. EBITDA 2026 of total adj. EBITDA 2026 of total adj. EBITDA 2026 Strong MLE contracts across the world Highly stable and
Slide 30: Strategic significance of energetics in the defense industry
STRATEGIC SIGNIFICANCE OF ENERGETICS IN THE DEFENSE INDUSTRY Ammunition - all calibers Tailwinds powering the energetics Essential item in government defense spending, majority of impact in industry the battlefield continues to be caused by large caliber ammunition Long term demand visibility as NAT
Slide 31: Strategic pillars underpinning growth journey
STRATEGIC PILLARS UNDERPINNING GROWTH JOURNEY 2030 Ambition: EUR 2bn revenue 1. Expand sales within existing 2. Invest in strategic M&A 3. Focus on product innovation product categories Expand production capacity in Complete acquisition of Launch first Colt Optics MLE , capitalizing on the glo
Slide 32: Substantial investments into growth
1 | SUBSTANTIAL INVESTMENTS INTO GROWTH Invest ~5% of revenues each ! Includes 15%+ capacity year into total CAPEX, mid -term expansion in S ynthesia growth investments include: Nitrocellulose from 6,000t to 7,000t CZK 1,800 - 2,000m n Building of additional production lines in Synthesia 45% Nitroce
Slide 33: Robust M&A strategy and execution plan
2 | ROBUST M&A STRATEGY AND EXECUTION PLAN M&A strategy Near term action ▪ Become a “one -stop -shop” for MLE PUT/CALL option for remaining 49% in customers: own a product portfolio Synthesia Nitrocellulose & Power that enables Colt CZ to provide ▪ Exercise period 2028 -2030 for PUT, customers with
Slide 34: Expanding portfolio, launch of Colt Optics
3 | EXPANDING PORTFOLIO, LAUNCH OF COLT OPTICS Vision ► Design and manufacture reliable, high -performance sighting and targeting technologies tailored to the needs of MLE and commercial market ► Become a major player in electro -optic solutions leveraging the Colt brand Infrastructure & Products ►
Slide 35: Dual listing in Amsterdam
DUAL LISTING IN AMSTERDAM Key opportunity to improve Colt CZ Group’s position on the market Dual listing as a strategic investment into growth Timeline Existing listing in Prague will remain By resolution at the General Meeting on integral in Colt CZ Group capital April 10 th , shareholders approved
Slide 36: Future proceeds dedicated to business expansion and financial resilience
FUTURE PROCEEDS WILL BE DEDICATED TO BUSINESS EXPANSION AND FINANCIAL RESILIENCE Disciplined M&A Several deals in the pipeline sized at upper tens to hundreds of millions of Euros Targets include market leading UAVs (1) and c -UAS (2) with ample battlefield experience and energetics vertical integra
Slide 37: Thank you for your attention
THANK YOU FOR YOUR ATTENTION Proven track record of growth since 2020 IPO, 1 delivering >25% revenue CAGR, translating into >30 0 % total shareholder return Unique transatlantic footprint positioning Colt 2 CZ as a trusted partner in the global defense spending supercycle Vertical integration execut
Slide 38: Appendix
Appendix
Slide 39: Strong cash conversion
STRONG CASH CONVERSION In CZK ‘000 FY 2025 FY 2024 Adj. EBITDA 4 661 356 4 598 864 Capex (1 035 000) (921 000) Adj. EBITDA - Capex 3 626 356 3 677 864 Cash Flow Conversion (%) 78% 80% KEY TAKEAWAYS Colt CZ has exhibited a strong and stable Cash Flow Conversion historically reaching 80% in 2024 and 7
Slide 40: Strong cash generative business
STRONG CASH GENERATIVE BUSINESS Dividends and share buy back Financial flexibility ✓ BoD will propose a cash dividend of ✓ Cash generative business allows CZK 30 for 2025 leverage reduction going forward ✓ Payout ratio: 89% from adj. net profit ✓ Space for significant CAPEX investment ✓ Historically
Slide 41: Net interest costs guidance
NET INTEREST COSTS GUIDANCE In CZK ‘000 000 G 2026 Interest expenses 1,239 Hedging impact (104) Deposit revenues (167) Net interest costs 968 Effective interest rate 4.23% ASSUMPTIONS Stable FX rate EUR/CZK Including NCL No extraordinary debt repayment Stable market interest rates No additional debt
Slide 42: Adjusted EBITDA reconciliation
ADJUSTED EBITDA RECONCILIATION In CZK ‘000 FY 2025 FY 2024 Operating profit 3 261 998 2 001 018 Depreciation and amortization 1 545 619 1 478 824 EBITDA 4 807 617 3 479 842 ESOP related costs (159 729) 418 730 M&A costs 37 466 14 960 Wasted project - Bolt action rifles - 69 624 Wasted project - Foun
Slide 43: Adjusted net profit reconciliation
ADJUSTED NET PROFIT RECONCILIATION In CZK ‘000 FY 2025 FY 2024 Earnings before tax 2 572 475 1 379 838 Tax expenses (528 208) (335 263) Net income 2 044 267 1 044 575 ESOP related costs (159 729) 418 730 Wasted project - Bolt action rifles - 69 624 Wasted project - Foundry - 21 642 M&A costs 37 466
Slide 44: Pro-forma BS as of 1 January 2026
PRO -FORMA BS AS OF 1 JANUARY 2026 in bn CZK Colt CZ Group NCL+POWER+conso adj Pro -forma BS Goodwill 9,0 4,1 13,1 Non -current assets 20,4 16,1 36,5 Current assets 26,2 -4* 22,2 Total Assets 55,6 16,2 71,8 in bn CZK Colt CZ Group NCL+POWER+conso adj Pro -forma BS Equity - owner of parent company 21
Slide 45: Pro-forma PL 2025 before PPA NCL amortisation
PRO -FORMA PL 2025 BEFORE PPA NCL AMORTISATION in bn CZK Colt CZ Group NCL+POWER+conso adj Pro -forma PL Revenues 23.4 4.9 28.3 EBITDA 4.8 2.3 7.1 Depreciation before PPA (1.5) (0.6) (2.1) Financial result (0.7) (0.1) (0.8) EBT 2.6 1.6 4.2 Net profit after tax 2 1.5 3.5 Net profit attributable to: O
Slide 46: Consolidated profit and loss statement
CONSOLIDATED PROFIT AND LOSS STATEMENT In ‘000 CZK 31 Dec 2025 31 Dec 2024 Revenues from the sale of own products, goods and services 23 398 336 22 375 792 Other operating income 109 472 159 638 Change in inventories developed internally 1 375 831 (629 980) Own work capitalized 390 851 338 746 Raw m
Slide 47: Consolidated balance sheet 1/2
CONSOLIDATED BALANCE SHEET 1/2 In CZK ‘0 0 0 31 Dec 20 25 31 Dec 20 24 ASSETS Non-current asset s Int angible asset s 9 463 485 10 40 3 416 Goodw ill 9 0 39 588 8 489 70 7 Propert y, plant and equipment 9 896 386 9 582 545 Equit y-ac c ount ed sec urit ies and invest ment s 45 0 0 6 44 10 2 Financ i
Slide 48: Consolidated balance sheet 2/2
CONSOLIDATED BALANCE SHEET 2/2 In CZK ‘0 0 0 31 Dec 20 25 31 Dec 20 24 EQUITY AND LIABILITIES Capit al and reserves Share c apit al 5 646 5 646 Treasury shares (189 767) - Share premium 13 477 795 13 477 795 Capit al f unds 1 641 512 1 641 512 Cash f low hedge reserve 636 152 (20 3 494) Foreign exc
Slide 49: Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT In ‘0 0 0 CZK 31 Dec 20 25 31 Dec 20 24 Cash flows from principal economic activity (operating activity) Profit from ordinary activity before tax 2 572 475 1 379 838 Deprec iat ion/amort izat ion of non-c urrent asset s 1 545 619 1 478 824 Change in allowanc es and p
Slide 50: Ownership structure
OWNERSHIP STRUCTURE Colt CZ top shareholding (%) Shareholder information Česká zbrojovka Partners SE Free float Česká zbrojovka Main shareholder Mr . René Holeček , Partners SE acquired key minority stake in 2001 before becoming a majority shareholder in 2014 24.4% C.B.C Europe S.A.R.L As part of th
Slide 51: Colt CZ Group structure
COLT CZ GROUP STRUCTURE 100% Colt CZ Group SE 291 51 961, Czech Republic 51% 51% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Synthesia Synthesia Representative Office Colt CZ Defence Česká Colt CZ Insurance Colt CZ Group swissAA CZG VIB Colt CZ Group Sellier & Bellot EHC -4M, Nitrocellulose, a