Slide 1: FY26 full-year results presentation
FY26 full-year results presentation 9 June 2026 Richard Tyson, CEO Paul Fry, CFO
Slide 2: Strong H2 underpinning a good full-year outcome
Strong H2 underpinning a good full-year outcome Imaging & Analysis quarter-on-quarter improvement post-Q1 tariff Orders disruption up 8% in H2 £450.4m +8.0% 1 Excellent order growth in Advanced Technologies up 28% Revenue Strong H2 revenue performance; both divisions growing versus prior year £423.2
Slide 3: Financial review
Financial review Paul Fry CFO FY26 Full-year results 9 June 2026
Slide 4: Strong H2 momentum underpinning a good full-year outcome
Strong H2 momentum underpinning a good full-year outcome Restated • NanoScience divested January 2026 £’m £’m FY25 FY24 % Growth % OCC1 FY26 FY25 % Growth % OCC1 (reported as a discontinued operation) Order intake 450.4 423.4 +6.4% +8.0% • Full year positive order growth following market disruption
Slide 5: Revenue lagging order growth in FY26, realigning in FY27
Revenue lagging order growth in FY26, realigning in FY27 Revenue (£’m) OCC1 • H1 revenue impacted by Q1 tariff related (3.0%) (4.6%) uncertainty and disrupted order intake 443.4 • I&A division full year OCC1 decline of (3.0%): (9.9) • H2 order growth +8.4% • H2 revenue +1.9% (3.6) 1.4 423.2 • Advanc
Slide 6: Imaging and Analysis: Strong H2 recovery driven by semiconductor commercial research customers
Imaging and Analysis Strong H2 recovery driven by semiconductor commercial research customers Order intake (£’m) Order intake growth (vs PY%) Order intake by end customer type +1.3% +8.4% Commercial Production and 13% (4.7%) testing (6.7%) Academia 31% Non-US (7.2%) FY25 FY26 H1 H2 £317.3m Revenue (
Slide 7: Imaging and Analysis: Improved operating margins as restructuring benefits flow through
Imaging and Analysis Improved operating margins as restricting and operational excellence benefits flow through FY25 OCC FY25 FY24 FY25 FY26AOP FY25% %Margin change % OCC% • Operating margins moved forward on a Margin % Margin reported and OCC basis • FX headwind to reported AOP of £4.1m Order intak
Slide 8: Advanced Technologies: Order book progressively building, accelerating in H2
Advanced Technologies Order book progressively building, accelerating in H2. Revenue pull through later than expected in FY26 Order intake (£’m) Revenue (£’m) Order intake by end customer type +30.4% (0.2%) +25.2% (6.8%) Commercial Production and testing +76.1% 53% H1 FY26 H2 FY26 H1 FY26 H2 FY26 Ac
Slide 9: Advanced Technologies: Operational leverage benefit expected in FY27
Advanced Technologies Operational leverage benefit expected in FY27, pushing AT into its target margin range 10-12% FY25 OCC FY25 FY24 • Revenue decline mainly down to X-Ray FY25 FY26AOP FY25% %Margin change % OCC% Technologies (-£3m). Plasma flat vs prior Margin % Margin year. • Semicon orders pull
Slide 10: Continuing to build on AOP margin improvement from the divestment of NanoScience
Continuing to build on AOP margin improvement from the divestment of NanoScience Divestment benefit OCC improvement • Adjusted operating profit FY25 restated to +150 bps +30 bps (80) bps exclude discontinued 16.4% 17.9% 18.2% 17.4% operations • Divestment of 82.2 (3.3) NanoScience improves (2.7) 79.
Slide 11: Adjusting items on a downward trajectory
Adjusting items on a downward trajectory £’m FY26 FY25 • Transformation and restructuring adjusting items Adjusted profit before tax 75.0 80.7 reducing significantly in FY27: Adjusting items (16.5) (42.5) • Down to low single digit £’m - Restructuring and assets disposals (6.5) (7.8) • Embed change
Slide 12: Cash Flow - Strong cash conversion. Robust FCF despite decline in AOP
Cash Flow - Strong cash conversion. Robust FCF despite decline in AOP • Operating cash flow impacted by £’m – Continuing Operations FY26 FY25 high Q4 receivables, and reduction in operating profit Net working capital 53.6 42.7 Net working capital as % revenue 12.7% 9.6% • UK pension contributions £5
Slide 13: Capital allocation priorities are unchanged
Capital allocation priorities are unchanged. Increase in organic deployment in FY27 FY26 FY27 Additional growth capex and ~£5m +~£10m Organic investment capitalised R&D FY26 Driving growth and margin £13.0m • FY24: 20.8p +6.7% • FY25: 22.2p +6.7% Dividends • FY26 23.6p +6.3% FY26 Net proceeds Progre
Slide 14: OXIG: driving an attractive growth and margin profile
OXIG: driving an attractive growth and margin profile Adjusted operating profit margin (%) Constant currency improvement +165 bps (130) bps • Strategic and 17.1% 18.7% 17.4% operational actions to drive growth and margin • I&A H2 order growth +8% • AT order book growth +28% • Book to bill 1.06 • Con
Slide 15: A business transformed and positioned for growth
A business transformed and positioned for growth Richard Tyson CEO FY26 Full-year results 9 June 2026
Slide 16: Business transformed: two divisions improving margin and growth potential
Business transformed: two divisions improving margin and growth potential Oxford Instruments in 2023 Oxford Instruments in 2026 • Strong reputation • Positioned for growth for innovation • Technology leadership Creating value extended through investing • Strengthened commercial approach • Overly com
Slide 17: Significant strategic progress: a platform for growth and value creation
Significant strategic progress: a platform for growth and value creation NanoScience divested: Significant order Pivot to commercial momentum in AT+28% customers in AT, 150bps margin now 63% of division improvement Step change in free Belfast reset for growth; Service revenues cash flow and 60% prod
Slide 18: Opportunity driven by structural global growth trends
Opportunity driven by structural global growth trends Our markets • Data centres and power Materials Analysis • EVs and batteries 4-7% • New materials discovery Medium-term 42% revenue • Mining CAGR* • Electrification and efficiency • Compound semiconductor developments: Semiconductors • Data centre
Slide 19: Leveraging our technology insight across the research and commercial production lifecycle
Leveraging our technology insight across the research and commercial production lifecycle Academic research Commercial R&D Production and testing Explore Develop Produce c. 35-40% c.35-40% Increased from 18% to 25% • Global reach to all major • Applied R&D investment by • Production and commercialis
Slide 20: Imaging & Analysis: Strategic actions and effective response to disruption
Strategic actions and effective response to disruption drive return to order and profit growth Imaging & Analysis Leading range of microscopy, scientific cameras, spectroscopy and associated analytical tools and software FY26 • Agile response to H1 disruption and US academia headwind Orders Revenue
Slide 21: Management actions to address geopolitical and supply chain challenges
Agile response drove strong order and revenue recovery in H2, delivering improved margins Imaging & Analysis Effective commercial Product assembly Rare earth supply Navigating US response to tariffs footprint adjusted disruption resolved academic funding uncertainty Management actions to address geo
Slide 22: Belfast facility returning to growth
Belfast facility returning to growth: improved productivity, margins and cash flow Imaging & Analysis Efficiencies achieved Product strategy realigned Operational transformation continues £6m cost £5.6m New OEM Microscopy Repair time 60% Site investment reduction reduction in positions and system fo
Slide 23: Customer-first strategy and streamlined structure strengthens commercial execution
Customer-first strategy and streamlined structure strengthens commercial execution Imaging & Analysis Teamwork and collaboration: drove 8% H2 order growth Customer sales journey: New demonstration centres in Seoul and Taiwan take global total to 11 Sales teams now cross trained on a wider range of p
Slide 24: Targeted investment focused on creating additional growth
Extending our leading edge through investment in new technology and software Imaging & Analysis FY26: portfolio-wide innovation FY27: additional investment on key Targeted investment growth opportunities focused on creating Jupiter AFM additional growth extends customer Integrating AI into software
Slide 25: Growth and profitability opportunity supporting updated medium-term target
Growth and profitability opportunity supporting updated medium-term target Advanced Technologies Compound semiconductor fabrication equipment and X-ray technology FY26 • Strategic evolution from academic R&D to partner for high volume manufacturers delivering strong order growth Orders Revenue Margi
Slide 26: Plasma Technology: our strategic evolution
Plasma Technology: our strategic evolution Advanced Technologies Our history Technology focused Growth, strategy, execution • £75m investment in new facility Datacom (InP) Power (GaN & SiC) Founded in 1980, focused on high-end plasma physics for R&D Quantum • Standardisation of products and applicat
Slide 27: Playing a critical part in the compound semiconductor value chain
Playing a critical part in the compound semiconductor value chain Advanced Technologies Boule growth Wafering Front end processing Back end processing Packaging … and incorporated Boules are grown… …then sliced into wafers… Layers are etched and Wafers are diced into the final deposited on the wafer
Slide 28: Focusing on an expanding landscape of compound semiconductor applications
Focusing on an expanding landscape of compound semiconductor applications Advanced Technologies Current lifecycle stage: Laser transceivers Production ramp • Fabrication of datacom lasers using InP, GaAs • Etch and deposition applications • Driven by data centre scaling to support AI Current lifecyc
Slide 29: Why we win: superior technology and capabilities in specialist growth markets
Why we win: superior technology and capabilities in carefully targeted and specialist growth markets Reference customers for our solutions Why we win Datacomm laser Power Electronics (InP) (GaN) • Critical process IP in our part of the Leading- value chain edge new facility and • 40 years know-how a
Slide 30: Strong year in challenging circumstances
Successful FY26 execution and momentum in orders support confidence in FY27 outlook Strong year in challenging circumstances Agile response underpinned good results and excellent strategic progress Considerable market opportunity in Advanced Technologies Business transformed: Group now fundamentally
Slide 31: Your questions
Your questions 5-8% 20%+ Organic Margin growth CAGR Enhance 8-9% growth, >30% Revenue ROCE Q&A invested in R&D margins & returns Selective >85% M&A Cash conversion 31
Slide 32: Appendix
Appendix 32
Slide 33: Impact of FX on FY26 results by major currency
Impact of FX on FY26 results by major currency Revenue by AOP by Exchange rate2 Exchange rate2 AOP impact £’m currency1 currency1 FY26 FY25 versus PY GBP 38.7 (127.7) USD 206.8 122.8 1.31 1.26 (4.5) EUR 115.5 43.6 1.15 1.16 0.4 JPY 41.4 26.1 192.69 185.13 (1.1) Other 20.8 8.9 0.6 Total 423.2 73.7 To