Sika Ag · SIX:SIKA
Sika — Investor Presentation (January 2026)
32 slides from Sika's investor presentation, January 2026
Slide 1: Outperformance in a declining market – Sika Investor Presentation
OUTPERFORMANCE IN A DECLINING MARKET – SIKA WITH MODERATE SALES GROWTH IN LOCAL CURRENCIES IN 2025 Sika Investor Presentation January 2026
Slide 2: Sika is standing on a strong foundation
SIKA IS STANDING ON A STRONG FOUNDATION 2 OUTGROWING MARKETS – DRIVING MARGINS Sika is the leader in an attractive, fragmented market Growing share and leading through innovation The near-term cycle has dampened 2025 results Accelerating efficiency programs and investing in digital leadership to dri
Slide 3: Leader of attractive and fragmented industry
LEADER OF ATTRACTIVE AND FRAGMENTED INDUSTRY
Slide 4: Global leader in a fragmented industry
COMPETITIVE LANDSCAPE 4 GLOBAL LEADER IN A FRAGMENTED INDUSTRY Sika Market Share 12% Sika Target Markets 2x size of closest peer Value-add product focus Concrete Waterproofing Roofing Building Finishing 12% ~15% of total sales ~10% of total sales ~15% of total sales ~20% of total sales Flooring & Co
Slide 5: Balanced business mix
BALANCED BUSINESS MIX 5 DIVERSIFIED EXPOSURE SUPPORTS RESILIENCE SALES SALES 20% 30% 45% 55% RESIDENTIAL INFRASTRUCTURE New Build Refurbishment SALES SALES 35% 15% 41% 59% AUTOMOTIVE & Emerging Markets Mature Markets COMMERCIAL INDUSTRY
Slide 6: Market penetration: growth vectors to increase market share
MARKET PENETRATION 6 GROWTH VECTORS TO INCREASE MARKET SHARE Innovation Leader Key geographies Go where the money is Multi-channel approach Cross- selling Leveraging strong position
Slide 7: Innovation drives share gains and margins
INNOVATION DRIVES SHARE GAINS AND MARGINS
Slide 8: Sika is the industry innovation powerhouse
SIKA IS THE INDUSTRY INNOVATION POWERHOUSE 8 INNOVATION DRIVES MARKET SHARE AND MARGINS 892 Inventions and 520 initial applications since 2021 in 5 core technologies. Extensive Reach: Over 100 local and regional R&D facilities in 90 locations, supported by 18 global technology centers across regions
Slide 9: Strong innovation power examples
STRONG INNOVATION POWER 9 EXAMPLES Sika Fibers Concrete Recycling Self-healing Membrane for Reinforced Concrete for Modern Flat Roofs ▪ Higher durability and longer lifecycle ▪ A total of 500 million m3 ▪ Membrane automatically seals of concrete of fresh concrete discarded every year damages when ex
Slide 10: Five core technology competencies drive innovation
FIVE CORE TECHNOLOGY COMPETENCIES DRIVE INNOVATION 10 INVENTIONS AND PATENTS ACCELERATE OVER THE YEARS R&D spend driving an acceleration in new Core Technology Competencies patents and product launches 300 15% 200 25% 100 - 2020 2021 2022 2023 2024 New Patents Filed New Inventions Total Sika patents
Slide 11: Sika is consistently gaining market share
SIKA IS CONSISTENTLY GAINING MARKET SHARE 11 OUTGROWING PEERS Sika vs Peers, Organic Growth Sika excl. China Construction vs Peers Avg. outperformance: +2.4% per year Avg. outperformance: +2.8% per year 3.0% 3.0% 1.8% 2.0% 1.5% 2.0% 1.2% 1.1% 1.0% 1.0% 0.1% 0.0% 0.0% -0.9% -0.9% 0.0% -0.9% -0.9% -1.
Slide 12: Gaining market share while driving profitability
GAINING MARKET SHARE WHILE DRIVING PROFITABILITY 12 OUTGROWING PEERS Sika vs Peers, EBITDA Growth (CHF) Sika excl. China Construction vs Peers, EBITDA Growth (CHF) Avg. outperformance: +6.3% per year Avg. outperformance: +8.8% per year 20.0% 20.0% 14.3% 15.0% 11.0% 15.0% 10.0% 10.0% 4.1% 4.1% 5.0% 5
Slide 13: Sales 2025
SALES 2025
Slide 14: Global growth of 0.6% in local currencies
GLOBAL GROWTH OF 0.6% IN LOCAL CURRENCIES 14 ACQUISITION EFFECT OF 1.0% +2.2 % +2.2% -5.2% +0.6% 3.88 5.03 2.30 11.20 Americas EMEA Asia/Pacific GROUP -0.4 Organic Growth FY 2024 FY 2025 +1.0% Acquisition Effect (in CHF billion, growth in LC) -5.4% Currency Impact
Slide 15: Net sales growth 2025
NET SALES GROWTH 2025 15 GROWTH IMPACTED BY CHINA CONSTRUCTION OPERATIONAL FX (in CHF billion) +2.1% 12.01 +0.6% +0.12 -0.18 -5.4% 11.83 11.76 +0.13 -0.63 -4.8% 11.20 2024 Organic excl. Acquisitions 2025 adj. in China 2025 adj. in LC FX Impact 2025 (reported) China LC excl. China Construction (repor
Slide 16: Market share gains in all regions
MARKET SHARE GAINS IN ALL REGIONS 16 SALES GROWTH OF 0.6% IN LOCAL CURRENCIES EMEA Americas Asia/Pacific Growth in LC +2.2% +2.2% - 5.2% Organic growth +1.5% +0.4% -5.6% Acquisition +0.7% +1.8% +0.4% 15% Currency impact - 3.5% - 7.6% - 5.5% 85% Construction Automotive & Industry Organic Acquistion (
Slide 17: Navigating challenging macro conditions
NAVIGATING CHALLENGING MACRO CONDITIONS 17 US GOVERNMENT SHUTDOWN AND WEAK CHINA IMPACTED Q4 EMEA AMERICAS ASIA / PACIFIC ▪ Strong business performance in ▪ Following a strong start to the ▪ Residential weakness persisted Middle East and Africa year, conditions softened in H2 amid lower consumer con
Slide 18: Fast Forward investment program
FAST FORWARD INVESTMENT PROGRAM
Slide 19: Become the digital leader in the industry
BECOME THE DIGITAL LEADER IN THE INDUSTRY 19 DIGITAL LEADERSHIP WILL DRIVE SHARE AND MARGIN GAINS INVESTMENT OUTCOMES Enhance customer value Grow market 1 share more Direct digital engagement, faster time-to-market efficiently CHF 120- Supply chain excellence Accelerate competitive 150mn 2 Automatio
Slide 20: Fast Forward: stronger and fitter for the future
FAST FORWARD 20 STRONGER AND FITTER FOR THE FUTURE One-time costs Investments CHF ∼110 million* CHF 120 – 150 million Benefits < 2yr payback CHF 150 – 200 million Up to 100% ROI (CHF 80 million in 2026) + share gains *around CHF 90 million EBITDA relevant
Slide 21: Fast Forward structural adjustments with strong ROI
FAST FORWARD STRUCTURAL ADJUSTMENTS WITH STRONG ROI 21 CHF 80-110 MILLION OF SAVINGS TO BE ACHIEVED BY 2028 One-off Costs (CHF mn) 2025 100% Supply chain ▪ Further optimize production and supply chain footprint footprint/ Total costs ∼110 million* ▪ Streamline capacity in selected markets portfolio
Slide 22: Fast Forward investment to drive share gains: digitalization
FAST FORWARD INVESTMENT TO DRIVE SHARE GAINS 22 EXTENDING SIKA’S DIGITAL LEADERSHIP Investments (CHF mn) 2026 40% ▪ Creating benefits for all stakeholders 2027 35% Customer ▪ Ease of doing business value ▪ Accelerated time to market (Digital Lab) 2028 25% Total benefit 120-150 million Digitalization
Slide 23: Innovation powerhouse – example: Nuage
INNOVATION POWERHOUSE – EXAMPLE: NUAGE 23 MACHINE LEARNING AS DEVELOPMENT CATALYST ▪ Nuage optimizes testing through advanced variable analysis ▪ Existing database of over 100,000 data points greatly reduces required tests ▪ Machine learning simulations further minimize need for physical testing Mac
Slide 24: Driving shareholder value
DRIVING SHAREHOLDER VALUE
Slide 25: Capital allocation policy
CAPITAL ALLOCATION POLICY 25 PRIORITY ON HIGH, LONG-TERM VALUE CREATION 1 Invest in ▪ Capital Expenditures ▪ Organic investment in footprint expansion, capacity, and efficiency the Business ▪ Bolt-on Acquisitions ▪ Bolt-on acquisitions create additional growth platforms and attractive equity returns
Slide 26: Value creation through M&A
VALUE CREATION THROUGH M&A 26 M&A CONTRIBUTING TO GROWTH AND PROFITABILITY Pre-synergy Multiple (EBITDA) ▪ Strong track-record of accretive acquisitions, unlocking substantial post-synergy value Post-synergy Multiple (EBITDA) ▪ Historic post-synergy acquisition multiples 4x improvement on average* p
Slide 27: Sika with 7 announced acquisitions in 2025
SIKA WITH 7 ANNOUNCED ACQUISITIONS IN 2025 27 PIPELINE OF ACCRETIVE BOLT-ON ACQUISITIONS IS STRONG Acquisitions in Singapore, United Kingdom, North America, Investment and Joint Venture Denmark, Qatar, Saudi-Arabia and Sweden in Canada and Switzerland Elmich Pte Ltd: Innovative Marlon Tørmørtel A/S:
Slide 28: Successful MBCC integration driving profitability improvement
SUCCESSFUL MBCC INTEGRATION 28 DRIVING SIGNIFICANT PROFITABILITY IMPROVEMENT >20.0% 25% Revenue synergies ▪ SG&A ▪ Operations/ 75% Footprint Cost ⁓15.0% synergies ▪ Procurement CHF 166 mn synergies* MBCC pre-acquisition EBITDA MBCC current run rate EBITDA * Trailing 12-month synergies as per 9/25
Slide 29: Outlook for 2025
OUTLOOK FOR 2025
Slide 30: Outlook for 2025: 2025 business year
OUTLOOK FOR 2025 30 2025 BUSINESS YEAR 2025 EBITDA margin ▪ 2025 EBITDA margin expected to be slightly above 19%, excluding Fast Forward one-off costs ▪ Outlook for 2026 will be presented at the full year results presentation February 20, 2026
Slide 31: Thank you
THANK YOU.
Slide 32: Forward-looking statement
FORWARD-LOOKING STATEMENT 32 This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘expects’, ‘believes’, ‘estimates’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘future’ or similar expressions or by discussio