Suedzucker Ag · XETR:SZU
Suedzucker — Südzucker — Investor Presentation (July 2026)
50 slides from Suedzucker's investor presentation, July 2026
Slide 1: Investor Briefing
Investor Briefing English Version July 2026 FINANCIAL TRANSPARENCY
Slide 2: Disclaimer
Disclaimer This presentation contains forward looking statements. The statements are based on current assumptions and estimates made by the executive board and information currently available to its members. The forward looking statements are not to be viewed as guarantees of the future developments
Slide 3: Overview
Overview 3 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 4: A diversified and multinational corporation with 100 years of history
100 years of tradition and future – As a diversified and multinational corporation A diversified portfolio ensures profitability and resilience Global, diversified with 100 years of company history: • 1837 Founding of the first sugar company • 1926 Founding of Süddeutsche Zucker-AG • ~ 90 production
Slide 5: We have been shaping change for a century…
We have been shaping change for a century… From being a regional sugar producer ... Start of production Foundation of the “Süddeutsche Zucker- of sustainably produced Aktiengesellschaft”, Mannheim ethanol in Zeitz; (Merger of 5 sugar factories) 2006: Founding of CropEnergies AGRANA: Joint Venture wi
Slide 6: … and are setting new impulses for the future
… and are setting new impulses for the future From heritage to progress – Part of your life Clear group strategy „Get the Power of Plants“ We are sugar – and much more. The 100-year With the power of plants, we aim to further expand our history of Südzucker reflects our continuous expertise in the a
Slide 7: Group Strategy 2030 Vision & Purpose
Group Strategy 2030 Vision & Purpose VISION VISION „Wir werden ein führender We will become the leading OUR VALUES Partner für pflanzenbasierte partner for plant-based solutions Lösungen in Ernährung, Energie in nutrition, energy and beyond – und darüber hinaus – entlang der along the entire value c
Slide 8: From Vision to Value – Group Strategy 2030
"From Vision to Value" – Group Strategy 2030 as our next strategic step Our five strategic directions Südzucker Group Strategy 2030 aims to strengthen the company’s ability to respond effectively to future Profitable growth challenges and to secure its long-term competitiveness. Plant-based solution
Slide 9: Selected group strategy initiatives
Selected group strategy initiatives Bio-based chemicals Plant-based proteins © midjourney.com 9 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 10: We leverage a strong European base combined with global reach
We leverage a strong European base combined with global reach Segments 8% 17% 13% 31% 22% 55% 59% 36% Group 32% 46% 8,352 mn € (Group revenues 2025/26) 17% 9% 61% 65% 22% 47% 28% 32% Sugar Special CropEnergies Starch Fruit products EU (excl. Germany) Germany Rest of the world 10 Investor Briefing, J
Slide 11: Our strategic diversification is the foundation to drive lasting stability
Our strategic diversification is the foundation to drive lasting stability Diversified Group – Operating EBITDA 2025/26 Diversified portfolio as cornerstone of stability – growing (mn €) importance of non-sugar activities supports the Group’s earnings performance Disciplined operational execution in
Slide 12: We combine stability and growth across five segments
We combine stability and growth across five segments Sugar Special products CropEnergies Starch Fruit BENEO Südzucker, Raffinerie – AGRANA Tirlemontoise, Saint Louis Freiberger CropEnergies AGRANA – Companies Sucre, Südzucker Moldova, – AUSTRIA JUICE Südzucker Polska, AGRANA PortionPack Group Ingred
Slide 13: We are leaders in numerous markets
We are leaders in numerous markets Renewable Starch © Sugar Fo © od © lisa870/stock.adobe.com zed Imp spide © ANEK SANGKAMA ressions hutterstoc ethanol r/Shutterstock . /S ~ 2.8 bn € ~ 0.8 bn € ~ 0.9 bn € c om NE k.c E4 om / Sh tte u rs t oc k.c o m Functional Food PortionPack © Pizza Mr .a ©z nd m
Slide 14: Our diversified portfolio balances risk across volatile and cyclical markets
Our diversified portfolio balances risk across volatile and cyclical markets © g ra © ze d fv i sp sio ide n/Shuttersto r/ S h u tt e r s t ck White Sugar World Market (€/t) oc Ethanol Europe (€/m³) .c o m k.c o m 1.550 750 650 1.300 550 1.050 450 800 350 550 250 150 300 2007 2010 2013 2016 2019 202
Slide 15: A changing environment opens up new growth opportunities
A changing environment opens up new growth opportunities ©c Market environment remains challenging with potential direct and indirect impact, e.g. duty- al vin dexter/Shutters toc k. free EU access for agricultural goods (Mercosur, Ukraine etc), geopolitical tensions and international trade conflict
Slide 16: Consistent implementation of our focus topics
Consistent implementation of our focus topics Value 01 Reduction 02 Expansion 03 Strengthening 04 05 Responsibility Enhancement Indebtedness Non-Sugar Resilience of Profitable Sustainability Segments Sugar Segment Growth • Reduction of • Diversification of plant- • Efficiency • Increase in • Commitm
Slide 17: Executive Summary
Executive Summary 17 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 18: Strong balance sheet and equity base despite lower earnings in 2025/26
Strong balance sheet and equity base despite lower earnings in financial year 2025/26 Group key figures financial year 2025/26 Revenues Operating EBITDA Operating Result 8,352 535 163 [9,694] mn € [723] mn € [350] mn € Cashflow from Working Capital Net Financial Debt ROCE Equity Ratio operating acti
Slide 19: Financial year 2025/26 – Segment performance
Financial year 2025/26 – Segment performance (mn €) 2025/26 2024/25 + / – in % • Operating Group EBITDA significantly below Revenues 8,352 9,694 -13.8 prior year Group Operating EBITDA 535 723 -26.0 Operating Result 163 350 -53.4 • Sugar segment with significant decline; lower Revenues 2,786 3,876 -
Slide 20: Financial year 2026/27 – Group overview 1st quarter
Financial year 2026/27 – Group overview 1st quarter Revenues Operating EBITDA 2025/26 2026/27 2025/26 2026/27 Sugar 704 mn € 629 mn € –34 mn € –21 mn € Special products 554 mn € 558 mn € 66 mn € 68 mn € CropEnergies 206 mn € 195 mn € 4 mn € 24 mn € Starch 245 mn € 228 mn € 15 mn € 20 mn € Fruit 444
Slide 21: Outlook for financial year 2026/27 – Group key figures
Outlook for financial year 2026/27 – Group key figures 2025/26 2026/27e Operating EBITDA 535 mn € 480 – 680 mn € Operating Cash Flow 462 mn € > Previous year Investments 450 mn € < Previous year in Fixed Assets Net Financial Debt 1,750 mn € ~ Previous year Capital Employed 6,019 mn € ~ Previous year
Slide 22: Outlook for financial year 2026/27 – Segments
Outlook for financial year 2026/27 – Segments Revenues Operating EBITDA 2025/26 2026/27e 2025/26 2026/27e Sugar 2.8 bn € -17 mn € - 60 to + 40 mn € incl. Group holding Special products 2.2 bn € 266 mn € CropEnergies 0.8 bn € 71 mn € Starch 0.9 bn € ➔ 69 mn € Fruit 1.6 bn € 146 m
Slide 23: Capital Market and Financing
Capital Market and Financing 23 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 24: Our commitment to investment grade rating remains our highest priority
Our commitment to investment grade rating remains our highest priority Long-term rating Short-term rating BBB-* A–3* Negative outlook * * since 21 May 2026 Long-term rating Short-term rating Baa3 ** P – 3 ** Negative outlook ** ** since 22 December 2025 A solid financing structure, sustainable cash
Slide 25: A strong liquidity position underlines our financial stability
A strong liquidity position underlines our financial stability and strategic execution Liquidity profile 2025/26 (mn €) Q4 2022/23 Q4 2023/24 Q4 2024/25 Q4 2025/26 Broad financing base Net financial debt -1,864 -1,795 -1,654 -1,750 via hybrid equity, bonds, promissory notes, bank loans, and factorin
Slide 26: Strengthened financial foundation through forward-looking financing measures
Strengthened financial foundation through forward-looking financing measures Successful tap of Corporate bond 75 mn € (March 26) Key financial instruments and (mn €) pricing in May 2026 maturity profiles Refinanced via new ▪ Successfully priced 400mn€ corporate bond corporate bond maturing in 2031 4
Slide 27: Our Segments
Our Segments 27 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 28: We are a broadly diversified company with a system-relevant role in food and energy
We are a broadly diversified company with a system-relevant role in both food and energy Sugar segment Special products segment CropEnergies segment Starch segment Fruit segment 28 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 29: Sugar Segment At a glance
Sugar Segment At a glance Segment KPIs 2025/26 Revenues Operating EBITDA ROCE 2,786 -17 -6.8 mn € mn € % Measures Strategy ✓ Aligned capacities with market conditions • “Competitive in Commodities”: enhanced – reduced production acreage and value chain from field to customer discontinued production
Slide 30: Sugar Segment Financial year 2025/26 and outlook
Sugar Segment Financial year 2025/26 and outlook Revenues (mn €) Operating EBITDA (mn €) - 60 to + 40 mn € © envato-elements/baliukhpavlo 30 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 31: Global Sugar Balance
Global Sugar Balance 2022/23: Market with small deficit (-0.4 mn t) Global sugar balance per sugar marketing year (SMY) • Low stock levels remain (mn t) 2023/24: Market with surplus (+4.7 mn t) • Further production increase – particularly in Brazil, China and Europe • Low stock levels remain, but ar
Slide 32: EU sugar balance and campaigns
EU sugar balance and campaigns 2022/23 • Sugar balance significantly in deficit, despite EU 27 sugar balance per sugar marketing year (SMY) increase in Ukraine imports (high import demand (mn t) → high import duties) 2023/24 • Cultivation expansion ~6%, recovery of yields • Market impact from duty-f
Slide 33: Development of sugar prices world vs. EU
Development of sugar prices world vs. EU €/t 1.200 White Sugar No. 5 €/t 1.000 EU Price Reporting exw. €/t Northwest Europe exw. €/t (S&P) 800 600 400 200 33 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 34: Special Products Segment At a glance
Special Products Segment At a glance Segment KPIs 2025/26 Revenues Operating EBITDA ROCE 2,216 266 9.5 mn € mn € % Measures ✓ Leverage of health-driven growth – ✓ Expansion of portfolio and marketing / ✓ Further expansion of co-packing and co- capture opportunities driven by persistent sales footpri
Slide 35: Special Products Segment Financial year 2025/26 and outlook
Special Products Segment Financial year 2025/26 and outlook Revenues (mn €) Operating EBITDA (mn €) ©Photoongraphy / Shutterstock.com 35 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 36: CropEnergies Segment At a glance
CropEnergies Segment At a glance Segment KPIs 2025/26 Revenues Operating EBITDA ROCE 793 71 7.3 mn € mn € % Measures Strategy ✓ Continuous expansion of core activities in • Expansion of new perspectives (e.g. product portfolio – production of biobased chemicals) by drawing on group’s renewable ethan
Slide 37: CropEnergies Segment Financial year 2025/26 and outlook
CropEnergies Segment Financial year 2025/26 and outlook Revenues (mn €) Operating EBITDA (mn €) ©hxdbzxy / Shutterstock.com 37 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 38: CropEnergies Segment Market development – ethanol and wheat EU
CropEnergies Segment Market development – ethanol and wheat EU European ethanol prices (€/m3) European ethanol prices* in the financial year 1000 2025/26 • Average ethanol price around 650 (680) €/m³ 900 FY 24/25 • Conclusion of various trade agreements and 800 political uncertainties had an impact
Slide 39: CropEnergies Segment Market development – ethanol sales and net imports
CropEnergies Segment Market development – ethanol sales and net imports EU & UK EU27 & UK: Ethanol sales (million m³) Ethanol market in EU-27 & UK in 2026 (in Mm³) 11.4 11.5 11.7 12 10.9 • Production: 1.0 0.9 0.9 1.0 9 1.5 1.4 1.4 1.4 8.0 | +/- 0% (6.3 fuel | 1.7 neutral alcohol) Fuel • Consumption:
Slide 40: CropEnergies Segment Trade agreements & regulatory developments
CropEnergies Segment Trade agreements & regulatory developments EU: Ethanol Imports by country of origin (million m³) Trade agreements EU: Mercosur Trade Agreement • Duty-free quota of 450kt: chemical industry 2.4 2,4 • 200kt at 1/3 of the most-favoured-nation tariff rate for all other uses (incl. f
Slide 41: Green Deal and Fit-for-55 Package – European legal framework until 2030
CropEnergies Segment Green Deal and “Fit-for-55” Package – European legal framework until 2030 Fit-for-55: Overall target of reducing greenhouse gas emissions by 55% by 2030 Emissions Trading System (ETS) ReFuel EU aviation and Fuel EU maritime • More ambitious GHG reduction target of 62% • Separate
Slide 42: Starch Segment At a glance
Starch Segment At a glance Segment KPIs 2025/26 Revenues Operating EBITDA ROCE 911 69 6.1 mn € mn € % Measures Strategy ✓ Prioritization of cost efficiency – from raw • Organic growth and creation of added material sourcing to production value via application-oriented solutions ✓ Implementation of A
Slide 43: Starch Segment Financial year 2025/26 and outlook
Starch Segment Financial year 2025/26 and outlook Revenues (mn €) ➔ Operating EBITDA (mn €) ©NewAfrica / Shutterstock.com 43 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 44: Fruit Segment At a glance
Fruit Segment At a glance Segment KPIs 2025/26 Revenues Operating EBITDA ROCE 1,646 146 14.9 mn € mn € % Measures Strategy ✓ Further growth via close collaboration with customers and targeted development • Expansion of international customer of high-margin, customer-specific proximity and outperform
Slide 45: Fruit Segment Financial year 2025/26 and outlook
Fruit Segment Financial year 2025/26 and outlook Revenues (mn €) Operating EBITDA (mn €) © envato-elements/Prostock-studio / Shutterstock.com 45 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 46: Sustainability
Sustainability 46 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
Slide 47: Sustainability – Our milestones 2025/26
Sustainability – Our milestones 2025/26 What we achieved in 2025/26 — Continuation and further development of the Impact Area programs — Emissions reduction: Switch to biogas for climate-neutral sugar production in Strzelin — Sustainable farming: Climate farming project (Südzucker, Beneo, and Purato
Slide 48: Sustainability program – eight impact areas
Sustainability program – eight impact areas Within Südzucker Group, we focus on eight impact areas Emissions reduction Responsible water use We strive for net climate neutrality by We use water responsibly by minimizing our continuously reducing our greenhouse gas consumption and using the water con
Slide 49: Why invest in us?
We stand for stability and reliability – built over 100 years as “part of your life” We master change with confidence — We combine European strength with powered by financial discipline, sustainable global reach growth, and a trusted brand. As a leading global company in the food industry and one of
Slide 50: Investor Briefing, July 2026 FINANCIAL TRANSPARENCY
50 Investor Briefing, July 2026 FINANCIAL TRANSPARENCY