Sartorius AG · XETR:SRT
Sartorius — Investor Presentation (February 2026)
57 slides from Sartorius's investor presentation, February 2026
Slide 1: Simplifying Progress Investor Presentation
Simplifying Progress Investor Presentation February 2026
Slide 2: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) FY 2025 Results | FY 2026 Guidance 2
Slide 3: Partner of life science research and the biopharmaceutical industry
Sartorius Group Partner of life science research and the biopharmaceutical industry Our mission We empower scientists and engineers to simplify and accelerate progress in Good health and well-being at life science and bioprocessing, enabling the focus of Sartorius‘ the development of new and better
Slide 4: Sartorius at a glance
Sartorius Group Sartorius at a glance ~€3.5bn Two divisions focused on attractive biopharma and life science Sales revenue markets ~12% Sales CAGR 2015-2025 29.7% 81% Sales 2025 19% Bioprocess Solutions Lab Products & Services EBITDA margin1 Division ~€3.5bn Division ~80% Recurring revenues > 14,000
Slide 5: Track record of profitable sales growth above market
Sartorius Group Track record of profitable sales growth above market Sales revenue; EBITDA margin1 CAGR ~12% Proven growth strategy driving share gains ~€3.5bn ▪ Increase share of wallet by addressing critical steps at customers ▪ Strong focus on recurring revenue ▪ Solution offering capitalizes on
Slide 6: Enabling the discovery and production of biopharmaceuticals
Sartorius Group Simplifying progress: Enabling the discovery and production of biopharmaceuticals Bioprocess Solutions Division Molecule Cell line and Upstream & development process development downstream production Quality | Testing | Validation Lab Products & Services Division 6
Slide 7: Attractive market environment offers strong growth opportunities
Sartorius Group Attractive market environment offers strong growth opportunities Growing and aging population Biologics are gaining importance2 >9.5 billion people by 20501 World population over age 65 in 2050 Sales share of biologics in 2030 ~1.6bn ~57% ~10% CAGR³ biopharma market 2025 – 2030 World
Slide 8: Addressing customer needs across all types of biopharma drugs
Sartorius Group Addressing customer needs across all types of biopharma drugs 1796 1818 1982 1986 2012 / 2017 2020 2023 Blood Recombinant Monoclonal Cell & gene mRNA CRISPR Vaccines products proteins antibodies therapies vaccines gene therapy Established Biopharmaceuticals Next Generation ▪ Largely
Slide 9: Cell and gene therapies: An increasingly relevant market segment
Sartorius Group Cell and gene therapies (CGT): An increasingly relevant market segment ~30% of biopharma pipeline is focusing on CGT1 Number of commercial processes is expanding rapidly 79 approved CGT globally1 ~70% ~30% Other CGT biologics 33 CGT approvals 2022 through 2025 ▪ >7,200 CGT candidates
Slide 10: Extensive technology platform for cell and gene therapy applications
Sartorius Group Extensive technology platform for cell and gene therapy applications Biological Albumedix Polyplus CellGenix Xell Up & downstream solutions Industries Cell culture Growth factors Media and Recombinant Transfection Cell line development, media and cytokines supplements Albumin reagent
Slide 11: Integration of innovative technologies is a core competency
Sartorius Group Integration of innovative technologies is a Sartorius core competency Acquisitions Cooperations Own Product Development of complementary technologies with partners leading in their fields in areas of core competencies Process Cell cultivation Media & reagents Chromatography Bioprinti
Slide 12: Proven M&A approach, recent focus on three strategic key areas
Sartorius Group Proven M&A approach, recent focus on three strategic key areas Build-up of Unique portfolio for Intensified technologies BioAnalytics portfolio Advanced Therapies for downstream processing Intellicyt Essen BioScience Biological BIA Separations CellGenix WaterSep Danaher chromatograph
Slide 13: Resilient global setup, well prepared for further growth
Sartorius Group Resilient global setup, well prepared for further growth Global Capex Capex Major projects ~X% in millions of €; 409 442 resilience composition ~3% ratio in % 12.1 12.5 Regular expansion Capitalized R&D ~2% Redundant Maintenance ~3% capacities 2024 2025 Freiburg, Germany Aubagne, Fra
Slide 14: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) FY 2025 Results | FY 2026 Guidance 14
Slide 15: BPS: Solution provider for biomanufacturing
Sartorius Group BPS: Solution provider for biomanufacturing ~€2.9bn Sales revenue 31.7% EBITDA margin1 Filtration & Purification Fluid management ~85% Recurring revenues ~90% Sales share biopharma Fermentation Cell culture media FY 2025 figures, 1 ul. EBITDA margin excluding extraordinary items 15
Slide 16: Track record of dynamic growth
Sartorius Group Track record of dynamic growth BPS sales revenue; EBITDA margin1 Pillars of growth CAGRs 2022–20272 CAGR ~13% 0.5 ~€2.9bn Pharma market ~3-6% 3,100.00 0.45 2,600.00 0.4 Biopharma market ~10% 2,100.00 Biosimilars ~15% ~€1.4bn 1,600.00 31.7% 0.35 CGT ~20% 29.1% 1,100.00 0.3 600.00 Sing
Slide 17: Covering most steps of the biopharmaceutical manufacturing process
Sartorius Group Covering most steps of the biopharmaceutical manufacturing process ▪ Differentiated by the range and completeness of the Culture media Seed Scale-up Production portfolio preparation cultivation ▪ Excellent positioning in key single-use technologies UPSTREAM ▪ Internationally recogniz
Slide 18: Generating revenue throughout the lifecycle of a biopharma drug
Sartorius Group Generating revenue throughout the lifecycle of a biopharma drug Products specified into customers’ validated processes; recurring revenues with Attractive business consumables after approval of the drug by health authorities (e.g. FDA, EMA) model Stage Pre-clinical Clinical Commercia
Slide 19: Competitive product offering
Sartorius Group Competitive product offering Sartorius Peer 1 Peer 2 Peer 3 Filtration Fluid Management Fermentation Purification Cell Culture Media Pie charts indicate completeness of product offering 19
Slide 20: Biosimilars: Strong growth, big opportunities
Sartorius Group Biosimilars: Strong growth, big opportunities ▪ Major blockbuster biologics are going off-patent ▪ Time-to-market is key as only the first providers are most likely profitable ▪ Several approvals in Asia and Europe; U.S. at the beginning ▪ For now, relatively small market but with st
Slide 21: Pioneer and leader in the growing single-use technology market
Sartorius Group Pioneer and leader in the growing single-use technology market Single-use market penetration expected to increase from ~35% to ~75% Single-use products offer advantages over conventional stainless-steel devices ▪ Capex|Opex reduction over entire lifecycle ▪ Reduced risk of cross-cont
Slide 22: Single-use allows manufacturers to mitigate investment risks
Sartorius Group Single-use allows manufacturers to mitigate investment risks ▪ Construction of stainless-steel based facilities takes longer and is more complex compared to single-use ▪ Therefore, investment in stainless-steel facilities has to start in early clinical phase II ▪ The construction of
Slide 23: Leveraging digital tools for faster process development
Sartorius Group Leveraging digital tools for faster process development and cost- efficient bioprocessing Combination of bioprocess sensors, analyzers and software to… Expected high …collect, monitor and control quality- Faster results New insights impact of AI, in- critical parameters silico simula
Slide 24: Limited dependence on individual accounts
Sartorius Group Limited dependence on individual accounts Long-term business relationships with leading global Limited dependence on individual accounts (bio-) pharma companies Sales to Top 50 customers in 2025, € in millions 1,000.0 ~58% ~62% 800.0 ~53% ~45% 600.0 ~30% 400.0 200.0 0.0 Top 10 11 to
Slide 25: High innovation dynamics in biopharma
Sartorius Group High innovation dynamics in biopharma Development of new Increased efficiency New tools and Future drug drugs and vaccines possible in the methods required manufacturing is must be accelerated, production of 'classic' e.g. for novel cell and more automated, e.g. through more biopharm
Slide 26: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) FY 2025 Results | FY 2026 Guidance 26
Slide 27: LPS: Premium supplier for life science research and quality control labs
Sartorius Group LPS: Premium supplier for life science research and quality control labs ~€673mn Portfolio includes lab instruments, consumables, software and services Sales revenue 21.5% EBITDA margin1 Bioanalytics Lab instruments 55% Recurring revenue ~59% Sales share Life Sciences Lab consumables
Slide 28: Continuous transition to a higher growth and profitability profile
Sartorius Group Continuous transition to a higher growth and profitability profile LPS sales revenue; EBITDA margin1 Growth drivers CAGR ~6% 900.0 49 Sales & Marketing pivot to attractive 800.0 segments and regions 44 700.0 ~€673m 39 600.0 Attractive portfolio mix coupled with M&A ~€477m 34 500.0 29
Slide 29: R&D efficiency key value lever for biopharma customers
Sartorius Group R&D efficiency key value lever for biopharma customers Biopharma R&D needs to Costly trial and error: innovate Only one out of 10,000 new drug candidates reaches the market R&D expenditure of large Research Commercial production $161bn pharma customers in 20231 increase in R&D expend
Slide 30: Enabling scientists in the lab to accelerate and improve workflows
Sartorius Group Enabling scientists in the lab to accelerate and improve workflows; contributes to reducing time and cost of drug development Solutions are used to BioAnalytics Lab Essentials ▪ Conduct experiments Instruments, consumables, and reagents Instruments and consumables for quality- for dr
Slide 31: BioAnalytics digitizes and automizes key research steps
Sartorius Group BioAnalytics digitizes and automizes key research steps in biopharma labs Real-time, live-cell imaging & analysis Rapid picking and screening of clones ▪ Highly automated to reduce manual efforts Boosting productivity via Integrating clone selection parallel experiments with workflow
Slide 32: BioAnalytics portfolio increasingly synergetic with BPS products
Sartorius Group BioAnalytics portfolio increasingly synergetic with BPS products Application example: Gene cloning, Clone Cultivation, Evaluation, selection, media characterization Cell banking cell line development initial selection analytics optimization LPS (BioA) instruments BPS instruments Reag
Slide 33: Lab Essentials for quality-critical steps and applications in the lab
Sartorius Group Lab Essentials for quality-critical steps and applications in the lab Main product groups Lab market expected to grow low- to mid-single digit ▪ Pharma and biopharma the largest customer group; rising number and complexity of drugs in development as main demand driver Lab Lab Liquid
Slide 34: Substantial share of recurring business
Sartorius Group Substantial share of recurring business Instrument sales followed by recurring revenue stream Further increasing recurring share ~55% Recurring revenue Software Consumables Reagents Service 34
Slide 35: Innovation strategy focused on key workflows addressing unmet needs
Sartorius Group Innovation strategy is focused on key workflows addressing unmet needs of customers Expand portfolio Complementary solutions, focus on innovation in key areas Focus areas Advanced cell models New modalities Data management & analytics Provide tools for generation and Reliable, real-t
Slide 36: Agenda
Sartorius Group Agenda Overview | Strategy Bioprocess Solutions Division (BPS) Lab Products & Services Division (LPS) FY 2025 Results | FY 2026 Guidance 36
Slide 37: Delivered on 2025 guidance
Sartorius Group Delivered on 2025 guidance 2025 Guidance Initial (quant.) guidance Updated guidance FY 2025 (prelim.) Sales revenue growth +~6 (+/- approx. 2 pp) +~7 +7.6 (in %, cc)1 Ul EBITDA margin Slightly above (in %) ~29 to ~30 29.7 29.5 Capex (in %) ~12.5 ~12.5 12.5 Net debt | ul EBITDA(x) app
Slide 38: 2025 characterized by strong performance; confident 2026 outlook
Sartorius Group 2025 characterized by strong performance; confident 2026 outlook Group: ▪ Clear profitable revenue growth driven by strong consumables business in both divisions ▪ Substantial margin expansion driven by scale effects, favorable product mix; FX/US-tariffs dilutive ▪ Healthy cashflow;
Slide 39: Progress on key steps to enable our future growth
Sartorius Group Progress on key steps to enable our future growth Select product launches Sartopore Evo® Sartocon® Pionic® Incucyte® Octet® iQUE® Cassette Spin & Dual CX3 R8e 5 VYBR Acquisitions & Partnerships Major capex projects Aubagne Göttingen Freiburg Songdo 39
Slide 40: Robust growth fueled by consumables demand
Sartorius Group Robust growth fueled by consumables demand Sartorius Group Bioprocess Solutions Lab Products & Services Sales revenue | € in millions Sales revenue | € in millions Sales revenue | € in millions +7.6% cc | +4.7% +9.5% cc | +6.5% +0.2% cc | -2.5% 3,381 3,538 2,690 2,865 691 673 FY 2024
Slide 41: All regions contributed to positive business development
Sartorius Group All regions contributed to positive business development EMEA Americas Asia | Pacific Sales revenue | € in millions Sales revenue | € in millions Sales revenue | € in millions +5.8% cc +8.9% cc +8.9% cc 1,389 1,467 1,200 1,251 792 820 FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 ▪
Slide 42: Improving profitability driven by volume, mix and scale effects
Sartorius Group Improving profitability driven by volume, mix and scale effects Sartorius Group Bioprocess Solutions Lab Products & Services Ul. EBITDA & margin | Ul. EBITDA & margin | Ul. EBITDA & margin | € in millions € in millions € in millions +11.2% +15.2% 29.7% 31.7% 28.0% 29.3% -8.6% 1,052 9
Slide 43: Strong profit performance; good cash generation; capex in line with plan
Sartorius Group Strong profit performance; good cash generation; capex in line with plan Sartorius Group FY 2024 FY 2025 in % in millions of € Underlying net profit1,2 280 331 +18.2 ▪ Overproportionate increase in net result and underlying EPS Underlying EPS (ord.) 4.05 4.78 +18.1 ▪ Operating cash f
Slide 44: Deleveraging progressing well; commitment to investment-grade rating
Sartorius Group Deleveraging progressing well; reiterating commitment to investment- grade rating Key financial indicators Net debt and net debt to underlying EBITDA 6.0 Sartorius Group Dec. 31, Dec. 31, 5,000 in millions of € unless otherwise specified 2024 2025 5.0 4,000 4.0 Equity ratio in % 38.6
Slide 45: Strong credit metrics and liquidity
Sartorius Group Strong credit metrics and liquidity Investment grade credit rating BBB- (stable) Balanced debt maturity profile • Commitment to maintain a solid investment grade rating • Focus on cash generation and continued deleveraging 650 Strong liquidity & resilient financing 850 850 650 • Cash
Slide 46: Confident outlook 2026
Sartorius Group Confident outlook 2026 Guidance 2026 Sartorius Group Bioprocess Solutions Lab Products & Services Sales revenue growth1 ~5% to ~9% ~6% to ~10% ~2% to ~6% Underlying EBITDA margin Slightly above 30% Slightly above 32% Slightly below 21% ▪ Group sales growth includes ~1pp contribution
Slide 47: Appendix
Sartorius Group Appendix 47
Slide 48: Corporate responsibility & further financial information
Sartorius Group Corporate responsibility & further financial information To Sartorius, sustainability means operating Please click below for further information: responsibly over the long term – with respect to business partners, employees and society as well as to natural resources. Learn more abou
Slide 49: Reasons to invest
Sartorius Group Reasons to invest Clear strategy, Strong fundamental Competitive, consistent growth drivers differentiated implementation product portfolio High-performance, High share of Ambitious team, resilient production recurring revenues strong customer focus and R&D infrastructure 49
Slide 50: Sartorius legal & operational structure
Sartorius Group Sartorius legal & operational structure Sartorius Group legal setup Sartorius AG (~69.0m shares) Ordinary shares (~34.2m shares) Preference shares (~34.8m shares) Stock market listed in Germany1 ~55% Administered by executor ~72% Free float ~38% Bio-Rad Laboratories ~28% Bio-Rad Labo
Slide 51: Share price performance
Sartorius Group Share price performance 250% 200% 150% 100% 50% 0% Sartorius (pref.) Sartorius (ord.) Sartorius Stedim Biotech DAX TecDAX MSCI Europe MDAX ISIN DE0007165631 (preference share) Indices DAX 50 ESG | MDAX | TecDAX | MSCI Europe DE0007165607 (ordinary share) CDAX | Prime All Share Index
Slide 52: A sampling of the Bioprocess Solutions' product portfolio
Sartorius Group A sampling of the Bioprocess Solutions’ product portfolio Filtration Purification Fermentation Fluid management 52
Slide 53: A sampling of the Lab Products and Services' product portfolio
Sartorius Group A sampling of the Lab Products and Services’ product portfolio Lab balances | Lab water systems Bioanalytics Lab filtration | Microb. analysis Pipettes 53
Slide 54: Executive Board of Sartorius AG
Sartorius Group Executive Board of Sartorius AG Michael Grosse, CEO René Fáber Florian Funck, CFO Alexandra Gatzemeyer Joined Sartorius in 2025 Joined Sartorius in 2002 Joined Sartorius in 2024 Joined Sartorius in 2005 Member of the Board since 2025 Member of the Board since 2019 Member of the Board
Slide 55: Contacts and Financial calendar
Sartorius Group Contacts and Financial calendar Petra Müller ▪ March 17, 2026 Head of Investor Relations Capital Markets Day, Goettingen +49.551.308.6035 ▪ March 26, 2026 petra.mueller2@sartorius.com Annual General Meeting Mirko Koch ▪ April 23, 2026 Publication Q1 Results 2026 Manager Investor Rela
Slide 56: Disclaimer
Sartorius Group Disclaimer This presentation contains statements concerning the future performance of the Sartorius Group. These statements are based on assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we cannot guarantee that they will actual
Slide 57: Simplifying Progress
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