Slide 1: Earnings call: H1 results 2026
Earnings call: H1 results 2026 August 6, 2026 1
Slide 2: A European Champion in the Growing Space Economy
A EUROPEAN CHAMPION IN THE GROWING SPACE ECONOMY A European Europe’s leading pure-play Space prime with strong 1 of 3 1 Space Champion German heritage Large system integrators in Europe for Space Systems > EUR 100 billion Structural Exposure to large end-markets with structural / EUR 1.5 trillion 2
Slide 3: A Scaled Space Company
A SCALED SPACE COMPANY 76% 13% 11% SPACE SYSTEMS ACCESS TO SPACE DIGITAL Satellite and spacecraft development, integration Germany’s leading industrial partner to Ariane, Ground systems and satellite operations, with and mission delivery across all domains, orbits provider of Spaceport services, sup
Slide 4: Q2 2026 Recap
Q2 2026 RECAP EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 4
Slide 5: Strong H1 Results Show Profitable Growth
STRONG H1 RESULTS SHOW PROFITABLE GROWTH KEY MESSAGES Q2/H1 2026 Double-digit growth of total operating performance and strongly improved adj. EBITDA (+31 %) FY 2026 guidance confirmed Order Intake – continued strong momentum with peak in H2 Successful hiring of industry experts ongoing Entered mult
Slide 6: German Federal Minister of Defense Visits OHB
GERMAN FEDERAL MINISTER OF DEFENSE VISITS OHB BMVG HIGHLIGHTS OHB‘S ROLE AS THE CENTRAL PARTNER FOR NATIONAL SPACE AMBITION* On July 14, Federal Minister of Defense Boris Pistorius visits OHB, underscoring the industry’s strategic importance ▪ Discussions with the management team focused on the role
Slide 7: Strong Interest in OHB at the ILA in Berlin
STRONG INTEREST IN OHB AT THE INTERNATIONAL AEROSPACE EXHIBITION (ILA) IN BERLIN ▪ Representatives from various Group companies exchanged views with representatives from politics, space agencies, academia, and industry on the potential applications and benefits of space solutions under the theme “Pi
Slide 8: OHB Rheinmetall Space Networks: Communication Architecture for Bundeswehr
OHB RHEINMETALL SPACE NETWORKS: NEXT LEVEL COMMUNICATION ARCHITECTURE FOR GERMAN BUNDESWEHR Joint venture between OHB and Rheinmetall strengthens Europe’s technological autonomy and Germany’s ability to pursue its security policy objectives ▪ Cornerstone project of the new German space-based militar
Slide 9: KIRK Joint Venture: Next Generation of AI-Based Reconnaissance
KIRK JOINT VENTURE: NEXT GENERATION OF AI-BASED RECONNAISSANCE Intending to close a critical capability gap on the modern battlefield by enabling tactical reconnaissance from space ▪ OHB and Helsing jointly lead the consortium also including Kongsberg Defence & Aerospace and HENSOLDT ▪ Development o
Slide 10: VORTEX-S: Advancing Europe's Future in Space Mobility
VORTEX-S: SETTING OUT TO ADVANCE EUROPE'S FUTURE IN SPACE MOBILITY Reusable orbital spaceplane for multipurpose space missions ▪ Dassault Aviation and OHB announced their intention to submit a joint proposal to the European Space Agency ESA for VORTEX-S − Core team consists of Dassault Aviation as t
Slide 11: Successful Continuation of Our Internationalization Strategy
SUCCESSFUL CONTINUATION OF OUR INTERNATIONALIZATION STRATEGY ▪ OHB SPACE UK: − Already contracted with EUR 24 million contract for ESA mission EnVision – further order intake expected − Successful market entry into the United Kingdom: − Strong order intake provides excellent growth path − Company in
Slide 12: Operational Milestones Reached Across Ongoing Projects
OPERATIONAL MILESTONES REACHED ACROSS ONGOING PROJECTS ▪ RAMSES − Planetary defense mission entered integration phase − Contract for the HAMLET hyperspectral camera, a key instrument for the mission, signed by prime contractor OHB Italia − Heritage of the Hera mission, developed and built by OHB in
Slide 13: OHB Italia Selected to Build Next Generation PRISMA Satellite
OHB ITALIA SELECTED TO BUILD NEXT GENERATION PRISMA SATELLITE Ensuring continuity of Italy’s next-generation hyperspectral Earth observation capabilities ▪ Strengthening our position as one of Europe’s leading providers of Earth observation systems and hyperspectral space missions − Underscoring the
Slide 14: Significant Progress at RFA
SIGNIFICANT PROGRESS AT RFA ▪ Rocket Factory Augsburg (RFA) reaches further milestones toward the first test flight of RFA ONE − Applied for approval of Test Flight 1 from the SaxaVord Spaceport on the Shetland Islands in Scotland − Successful qualification and integration of all nine engines into t
Slide 15: Successful Launches
SUCCESSFUL LAUNCHES ▪ Space Launch System (SLS) − Successful launch of the Artemis-II mission on April 2 marks an important step toward humanity‘s return to the Moon − Since 2013, MT Aerospace has been a qualified supplier and partner of Boeing for NASA’s SLS, and as such, its safety-critical struct
Slide 16: Capital Increase Successfully Completed (I)
CAPITAL INCREASE SUCCESSFULLY COMPLETED (I) TRANSACTION OVERVIEW Against the backdrop of a booming space industry, company’s share capital has been increased by partially utilizing the Authorized Capital 2025 ▪ Industry boom driven by geopolitical developments, growing defense budgets, and a renewed
Slide 17: Capital Increase Successfully Completed (II)
CAPITAL INCREASE SUCCESSFULLY COMPLETED (II) CAPITAL REQUIREMENTS – OUR KEY INVESTMENT AREAS Indicative Use of Proceeds Split Investment Area Description Significant investments in production facilities to enable strong growth via continued industrialization Various tangible projects, incl. Lunar Ex
Slide 18: ESA, EU and National Budgets Expanding Europe's Institutional Space Funding
ESA, EU AND NATIONAL BUDGETS ARE EXPANDING EUROPE’S INSTITUTIONAL SPACE FUNDING BACKDROP EUR 22 billion EUR 131 billion EUR 35 billion ESA 2026-2028 EU MFF 2028-2034 Germany 2026-2030 MC25 Budget Defense & Space Military Space Funding Strategic shift in Germany’s 32% budget >4x increase from approac
Slide 19: H1 2026 Trading Update
H1 2026 TRADING UPDATE EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 19
Slide 20: The Group in Brief
THE GROUP IN BRIEF FINANCIAL FIGURES IN EUR MILLION H1 2026 H1 2025 YoY in % Commentary ▪ Strong margin improvement, Total operating performance 628 564 +11 reported profitability burdened by Adjusted EBITDA 60 46 +31 transaction costs one-off effects Adjusted EBIT 39 27 +46 ▪ Front-loaded order int
Slide 21: OHB Is Ready for Significant Growth at Current Record Backlog Levels
OHB IS READY FOR SIGNIFICANT GROWTH AT CURRENT RECORD BACKLOG LEVELS Order backlog Commentary ESA Ministerial Conferences (MC) MC ‘25 ▪ Entering the next ESA cycle with significant backlog, also setting a record-high base for future order MC ‘19 MC ‘22 backlog and growth visibility MC ‘16 ▪ Further
Slide 22: Development of Financial Key Figures for the Group
DEVELOPMENT OF FINANCIAL KEY FIGURES FOR THE GROUP IN EUR MILLION Total operating performance Profitability 628 Adjusted EBITDA Adjusted EBIT 564 60.4 457 470 443 44.1 45.9 42.8 40.7 38.9 25.4 26.0 26.5 22.2 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2026 Adj.
Slide 23: Topline Split: Well-Positioned for Growth in Space & Defense
TOPLINE SPLIT: WELL-POSITIONED FOR GLOBAL GROWTH IN SPACE & DEFENSE ALIKE Revenue by region Total operating performance by segment Pipeline by end market 4% 10% 30% 16% ~EUR 20 billion(1) 66% 74% Germany SPACE SYSTEMS Institutional Depending on key project intake Rest of Europe ACCESS TO SPACE Defen
Slide 24: Reconciliation of EBITDA to Adjusted EBITDA
RECONCILIATION OF EBITDA TO ADJUSTED EBITDA* IN EUR MILLION H1 2025 H1 2026 21.4 0.3 60.4 2.5 0.4 1.4 45.9 41.6 0.4 36.4 1.9 EBITDA Transformation costs Impairments Other Adjusted EBITDA Transformation costs Impairments Transaction costs Other Adjusted and reversals EBITDA and reversals EBITDA +31 %
Slide 25: Segment Financials
SEGMENT FINANCIALS IN EUR MILLION SPACE SYSTEMS ACCESS TO SPACE DIGITAL 472 +8% 105 +31% 64 +11% Total operating performance Year-on-year Total operating performance Year-on-year (3) Total operating performance Year-on-year (3) 48 10.1% 8 8.0% 4 6.3% Reported EBITDA Reported EBITDA margin(1) Reporte
Slide 26: Adjusted Free Cash Flow
ADJUSTED FREE CASH FLOW IN EUR MILLION Commentary H1 2026 H1 2025 ▪ Adjusted Free Cash Flow pre-TWC Rep. EBITDA 36 42 shows organic growth and improved Taxes -4 -1 conversion rate despite cash effective Other non-cash expenses (+) / income (-) 17 0 one-offs of c. 14 EUR million Gains (-) / losses (+
Slide 27: Improved Financial Position to Execute on Growth
IMPROVED FINANCIAL POSITION TO EXECUTE ON GROWTH IN EUR MILLION 1.7x Commentary 0.8x ▪ Capital increase significantly increased strategic -1.1x flexibility by strengthening our balance sheet H1 2026 Q1 2026 FY 2025 ▪ Intra-year swings in cash due to contract and invoicing Financial liabilities(1) 34
Slide 28: Financial Guidance Confirmed
FINANCIAL GUIDANCE CONFIRMED 2026E AND STRATEGIC MID-TERM TARGETS ▪ Record order backlog and strong order intake drive mid-term growth in total Adj. EBITDA operating performance to > EUR 4.0 10.1 10.5 – 11.0 ∼13.0 billion margin (in %) Total operating performance ▪ OHB continues organic, self-funded
Slide 29: Financial Calendar
FINANCIAL CALENDAR August 6, 2026 H1 2026 results / Earnings call Jefferies Industrials Conference, September 9-10, 2026 New York City Berenberg & Goldman Sachs German Corporate Conference, September 21, 2026 Munich November 12, 2026 9M 2026 results / Earnings call Deutsche Bank Global Space and Def
Slide 30: Q&A
Q&A EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 30
Slide 31: Thank You!
THANK YOU! OHB SE Manfred-Fuchs-Platz 2-4 28359 Bremen Germany Phone: +49 421 2020 6426 Email: ir@ohb.de Web: www.ohb.de EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 31
Slide 32: Appendix
APPENDIX EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 32
Slide 33: Our Market Outlook in Two Phases
OUR MARKET OUTLOOK IN TWO PHASES: THE SOVEREIGN RAMP-UP FOLLOWED BY GLOBAL EXPANSION Zoom-in: 2025+ Global Space Next era of Space 2 Phase 2: 2030+ Economy(1) Global, Commercial & ~EUR 1,500 billion 1 Phase 1: 2025–2030 Frontier Expansion European Institutional & Defense Super-Cycle ✓ Planned intern
Slide 34: EU Funding Proposals Point to Step-Change in Space and Defense Spending
EU FUNDING PROPOSALS POINT TO A BROADER STEP-CHANGE IN EUROPEAN SPACE AND DEFENSE SPENDING Announced budget increase by domain 2021-2027 priorities 2028-2034 trends in EUR billion 131 GALILEO / EGNOS Strategic shift in focus Space Defense EU’s global and regional satellite navigation systems OHB as
Slide 35: Strong Order Intake Momentum Before the New Super-Cycle
STRONG ORDER INTAKE MOMENTUM: EVEN BEFORE ENTERING THE NEW SUPER-CYCLE Order intake Order backlog Pipeline(b) Commentary in EUR million in EUR million in EUR billion ~20 ▪ Strong institutional demand across 0.9x(a) 1.6x 1.7x ESA and EU driving order intake 3,194 3,304 growth – already before the ong
Slide 36: Strong Pipeline of Attractive Upcoming Opportunities
STRONG PIPELINE OF ATTRACTIVE UPCOMING OPPORTUNITIES Won Sentinel Prisma2 IRIS2 SATCOMBw4 Earth Observation Satellites Hyperspectral Earth Observation Secure Satellite Communication Germany’s Sovereignty Project Backbone for EU Copernicus Italian-led system for environmental EU sovereign multi-orbit
Slide 37: Access to Space: Short-Term Growth via Industrial Scaling
ACCESS TO SPACE: SHORT-TERM GROWTH VIA INDUSTRIAL SCALING AND EXECUTION OF EXISTING PROGRAMS AND CONTRACTS SPACE Defense European Launcher (Ariane 6) US Launcher (e.g., Artemis, SLS) Missiles ▪ >10% workshare since 2014 ▪ Industrial partner for SLS launches, ▪ Supplier to national and European futur
Slide 38: Access to Space: Mid-Term Growth via Next Generation Programs
ACCESS TO SPACE: MID-TERM GROWTH VIA NEXT GENERATION PROGRAMS AND EXTENSION OF CAPABILITIES SPACE Defense Next-Gen European European Spaceport In-Space Hypersonic Missiles and Large Launcher Company Operations Next-Gen Air Defense ▪ Development of next-gen ▪ Maritime & land launch ▪ Pilot in-space r
Slide 39: Digital: Two Different Opportunities Enable Future Growth
DIGITAL: TWO DIFFERENT OPPORTUNITIES ENABLE FUTURE GROWTH Sovereign connectivity Data services Security, Defense & Geopolitical Climate Change & Environmental Instability Monitoring Disaster Management & Agentic AI, Digitalization & Resilience Connectivity ▪ New space capabilities require major grou
Slide 40: Ready to Meet Rising Demand
READY TO MEET RISING DEMAND Additional sites 18 locations / 11 countries located in Chile & Cleanroom production capacity with upgraded facilities Across key European Space hubs French Guiana Bremen expanded (2020) Kista, Cleanroom facility +700 sqm cleanroom, +1,350 sqm labs, and 1,400 sqm ISO 8 cl
Slide 41: Space Systems
SPACE SYSTEMS IN EUR MILLION Total operating performance Profitability 472 EBITDA EBIT 439 389 365 356 47.8 33.9 33.6 33.7 30.1 31.4 21.1 20.5 18.8 17.4 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2026 EBIT margin: 6.7 % (H1 2025: 4.3 %) EARNINGS CALL: H1 RESUL
Slide 42: Access to Space
ACCESS TO SPACE IN EUR MILLION Total operating performance Profitability EBITDA EBIT 105 8.4 6.7 6.7 71 5.9 60 63 5.4 54 4.5 3.2 3.2 1.8 1.3 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2026 EBIT margin: 4.2 % (H1 2025: 4.5 %) EARNINGS CALL: H1 RESULTS 2026 | AU
Slide 43: Digital
DIGITAL IN EUR MILLION Total operating performance Profitability EBITDA EBIT 67 64 6.1 52 52 49 4.9 4.7 4.0 3.5 3.0 2.3 1.8 1.3 0.5 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2026 EBIT margin: 4.7 % (H1 2025: 1.9 %) EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2
Slide 44: Assets
ASSETS IN EUR 000 June 30, 2026 December 31, 2025 Δ in % Non-current assets 533,019 519,069 +3 Property, plant and equipment 113,089 105,039 +8 Rights of use from leasing agreements 38,356 38,369 0 Other intangible assets 145,741 145,501 0 Others 235,833 230,160 +2 Current assets 1,580,459 1,047,309
Slide 45: Equity and Liabilities
EQUITY AND LIABILITIES IN EUR 000 June 30, 2026 December 31, 2025 Δ in % Equity 915,640 431,358 +112 Non-current liabilities and provisions 338,956 331,506 +2 Provisions for pensions 70,874 71,198 0 Leasing liabilities 29,819 29,212 +2 Deferred tax liabilities 83,709 75,029 +12 Others 154,554 156,06
Slide 46: Share Price Performance
SHARE PRICE PERFORMANCE JANUARY 3, 2025 - AUGUST 4, 2026 | IN % 1480 1280 1080 880 680 480 280 80 2025-01-03 2025-07-03 2026-01-03 2026-07-03 DAX TecDAX STOXX Europe A&D EN Helios Space OHB EARNINGS CALL: H1 RESULTS 2026 | AUGUST 6, 2026 46