Slide 1: Azelis Investor Lab tour 2026
Azelis Investor Lab tour 2026 Sankt Augustin, Germany Forever Forward 29 September 2026
Slide 2: Sections
Sections I Speciality chemical distribution II Achievements 2024 -2025 III Our strategy to seize future opportunities IV Our objectives Anna Bertona Boris Cambon -Lalanne Group CEO Group CFO 2 Azelis Lab Tour 2026 | 29 September 2026
Slide 3: Sections
Sections I Speciality chemical distribution II Achievements 2024 -2025 Our strategy to seize future III opportunities IV Our objectives 3 3 Azelis Lab Tour 2026 | 29 September 2026
Slide 4: The megatrends driving the industry have evolved
The megatrends driving the industry have evolved Regulations & AI is t ransforming Persistent market Global manufacturing sustainability accelerate complexity rebalancing customer interactions need for technical and productivity Trend competences Significance (1) Evolution & • Partner of choice for
Slide 5: A structurally attractive market with compelling growth drivers
A structurally attractive market with compelling growth drivers 1 2 3 4 A large and growing Diversified resilient end Fragmented industry Large global players are speciality chemical markets best positioned to win distribution market Few large global Need for specialised speciality players services
Slide 6: Structural market growth remains intact as GDP growth shifts to services
1 Structural market growth remains intact as GDP growth shifts to services Global third -party speciality chemical distribution ✓ Market has doubled since 2015 market size and growth (€bn) (1) ~200 ✓ Structurally growing end markets drive long -term growth 98 ✓ Normalisation after 2021 -2022 step -u
Slide 7: Long-term growth supported by end markets
1 Long -term growth supported by end markets… Well -positioned in structurally -growing end markets (CAGR 2026E -2031E) Life Sciences Industrial Chemicals 4% 3% 2% 1% 0% Pharmaceuticals Food & Nutrition Personal Care Agricultural & Flavours & Homecare & CASE Advanced Chemicals LMWF & Healthcare Envi
Slide 8: … with a need for specialised services
2 … with a need for specialised services Customer Warehouse / Value -Added Technical Sales / Marketing / Principal Development & Production Formulation Integration & Logistics Services Support Pricing Bus Dev Production Value to Principals Value to Customers ‘Basic Resell’ Distributor ✓ ✓ ✓ • One -s
Slide 9: Long runway for growth from consolidation
3 Long runway for growth from consolidation The speciality chemical distribution market remains fragmented M&A track record of top players (2019 -2025) (1) The largest chemical distributors remain Since 2019, top 4 pure speciality players M&A compounders have completed >160 acquisitions 12% 62 54 Th
Slide 10: Large global players remain best positioned to grow and create value
4 Large global players remain best positioned to grow and create value Regulatory & Consolidation Global reach Digitalisation M&A funding compliance Principals and customers Increasing regulatory Ongoing importance Rising digital M&A opportunities continuing to rationalise demands and need for Does
Slide 11: Sections
Sections I Speciality chemical distribution II Achievements 2024 -2025 Our strategy to seize future III opportunities IV Our objectives 11 Azelis Lab Tour 2026 | 29 September 2026
Slide 12: Azelis at a glance
Azelis at a glance Global Attractive end Innovation Profitable & platform markets (1) driven Extensive network asset light €4.1bn ~63% 65,000+ customers revenue Life Sciences 70+ application labs 4,000+ employees €411m Adjusted EBITA 64 countries with ~37% physical Industrial principal presence Chem
Slide 13: Diversified footprint in attractive, growing end markets
Diversified footprint in attractive, growing end markets Nutraceutical Animal Nutrition 1% 1% Flavours & Lubricants & Fragrances MWF 6% 6% Home Care & Food & 18% Industrial Nutrition Cleaning 6% CASE Life Industrial 17% Sciences Chemicals Pharma & 63% 7% 37% Healthcare 8% Advanced Materials & Additi
Slide 14: Strong financial performance through the cycle
Strong financial performance through the cycle (2015 -2020) (2020 -2023) (2023 -2025) (2015 -2025) Pre COVID COVID Post -COVID TOTAL Revenue growth +20.9% CAGR +23.2% CAGR -0.5% CAGR +16.9% CAGR Organic +3.3% Organic +10.0% Organic -1.4% Organic +4.3% GrossProfit Gross Profit%% * 20.9% avg. 23.4% av
Slide 15: Superior margin profile confirmed
Gross Profit GP % 21.2 22.0 23.0 23.4 23.7 24.5 23.6 24.2 +3ppts 1 031 Superior margin GP €m 445 490 650 961 984 968 524 profile confirmed 2019 2020 2021 2022 2023 2024 2025 2026H1 ✓ Gross margin expansion driven by our growing portfolio and scale Continuous Gross Profit growth: value to customers C
Slide 16: Delivering margin expansion through the cycle
Delivering margin expansion through the cycle Strong Track Record Of Adj. EBITA Margin Uplift c. 40bps p.a. 220bps Adj. EBITA margin expansion 11.2% 11.2% since 2019 11.1% 10.7% 10.0% 9.5% 8.5% Operating leverage and 7.8% benefit of scale A benefit of Azelis’s unique portfolio More complete product
Slide 17: Sections
Sections I Speciality chemical distribution II Achievements 2024 -2025 Our strategy to seize future III opportunities IV Our objectives 17 Azelis Lab Tour 2026 | 29 September 2026
Slide 18: Accelerators programmes
Market An active One agile segment consolidator Azelis leadership Azelis is the reference innovation service provider for speciality chemicals and food Accelerators ingredients Innovation Digitalisation Sustainability Customer’s First Choice programmes Strategic Winners of the Future Future Fit 18 A
Slide 19: We continue to see attractive opportunities for growth, both organically and via M&A
We continue to see attractive opportunities for growth, both organically and via M&A Life Sciences Industrial Chemicals Segment Segment Segment Segment Segment Segment Segment Segment Segment Segment Segment 1 2 3 4 5 6 7 8 9 10 11 EMEA Americas APAC Azelis Penetration: Medium Strong Leader 19 Azeli
Slide 20: Azelis has multiple growth pathways
Azelis has multiple growth pathways Customer and business development New mandates M&A Country/end market combination Current New Current Gaining new customers, expanding share -of -wallet Use current portfolio to enter a new end market 1 2 with existing customers Exclusivity can limit possibilities
Slide 21: Azelis has multiple growth pathways
Azelis has multiple growth pathways Customer and business development New mandates M&A Country/end market combination Current New Expanding market & wallet share Entering new market with existing product CASE| Turkey Hydrocolloid| Food to Firefighting Current • CASE lab team provided a high -perform
Slide 22: Disciplined M&A approach with clearly established evaluation criteria
Disciplined M&A approach with clearly established evaluation criteria Azelis has a clearly established M&A evaluation criteria… … with a proven M&A execution model Speciality portfolio with Solid reputation and ORIGINATION attractive principals customer relationships 1 Local networks to build pipeli
Slide 23: Accelerators programmes
Market An active One agile segment consolidator Azelis leadership Growth accelerators Accelerators Innovation Digitalisation Sustainability Customer’s First Choice programmes Strategic Winners of the Future Future Fit 23 Azelis Lab Tour 2026 | 29 September 2026
Slide 24: Case study: Azelis Pharma application developments to expand customer reach
Case study: Azelis Pharma application developments to expand customer reach and market for principals Innovation & application growth engine Market trends High efficiency Structured Natural & Topical & High purity Solubility User -centric Modified & coating liquids & sustainable wound care parentera
Slide 25: Case study: Transforming how we serve customers using AI
Digital Case study: Transforming how we serve customers using AI Product Compass SHEQ Customer Questionnaire Complete product knowledge two clicks Reading customer questionnaires, pulls away in the CRM, so sales teams can the right regulatory and safety data by pitch with confidence and unlock more
Slide 26: Sustainability: Best-in-class sustainability agenda aligned with our values
Sustainability: Best -in -class sustainability agenda aligned with our values Sustainability remains a core value and business driver at Azelis MSCI ESG Ranking Azelis AAA DKSH AA IMCD A We help our Portfolio Brenntag A customers and principals achieve Environment their sustainability goals Consumer
Slide 27: Accelerators programmes
Market An active One agile segment consolidator Azelis leadership Strategic programmes Accelerators Innovation Digitalisation Sustainability Customer’s First Choice programmes Strategic Winners of the Future Future Fit 27 Azelis Lab Tour 2026 | 29 September 2026
Slide 28: Our strategic programmes driving future value creation
Our strategic programmes driving future value creation Customer’s First Choice Winners of the Future Future Fit Capture growth through existing Increase commercial focus and Win with customers through Purpose commercial excellence and emerging speciality productivity through scale and producers digi
Slide 29: Customer's First Choice: Winning through commercial excellence
Customer’s Fi rst Choice : Winning through commercial excellence Market and customer Go -to -market & knowledge customer lifecycle KPI & Sales Performance Framework Sales & Enablement Management Skill & Capability Pricing & Portfolio development excellence D riving for commercial Emerging commercial
Slide 30: Winners of the Future: Managing a portfolio of winning partners
Winners of the Future: Managing a portfolio of winning partners to ensure continued market leadership in the future Azelis principal selection criteria The opportunity and our approach Speciality portfolio relevant Innovative products with for our end -markets strong focus on R&D ✓ The Winners of th
Slide 31: Future Fit: Strengthening our platform for sustainable growth
Future Fit: Strengthening our platform for sustainable growth Regionalisation Global Business Reorganisation of common Service Model of financial functions (GBS) structure • Regionalise business operations to • Centralise support functions • Reorganise financial and capital free up local commercial
Slide 32: Sections
Sections I Speciality chemical distribution II Achievements 2024 -2025 Our strategy to seize future III opportunities IV Our objectives 32 Azelis Lab Tour 2026 | 29 September 2026
Slide 33: Azelis aims to deliver high single-digit annual EBITA growth
Azelis aims to deliver high single -digit annual EBITA growth High single -digit annual growth inflation Growth Digital Adjusted EBITA Volume growth Gross Profit Investment/ Efficiency gain Adjusted EBITA M&A Adjusted EBITA 2026 improvements inflation 2031 organic 2031 Total 33 Azelis Lab Tour 2026
Slide 34: Long-term objectives to deliver value to all stakeholders
Long -term objectives to deliver value to all stakeholders Measure KPIs Objectives 1 - Value Azelis brings to its customers Gross Profit growth (CAGR) Mid to high single digit - Direction and velocity of growth - Value Azelis brings to its shareholders - Value of strategic programmes Adjusted EBITA
Slide 35: Capital allocation framework
Capital allocation framework 1 2 Invest in business Ordinary dividends 25 -35% Net Profit Strong >11.5% balance ROCE sheet Net Debt / EBITDA Value accretive M&A 8 2.5 -3.0x Additional shareholder remuneration 3 4 35 Azelis Lab Tour 2026 | 29 September 2026
Slide 36: Azelis, an investment opportunity
An attractive A resilient 1 market 2 model Large market with Speciality focused, attractive end markets Innovation driven Azelis, an Highly fragmented Diversified in multiple end - investment industry markets and geographies M&A opportunities Asset light opportunity that has it all A proven Solid 3
Slide 37: Appendix
END APPENDIX 37 Azelis Lab Tour 2026 | 29 September 2026
Slide 38: Glossary of terms
Glossary OF TERMS TERM DEFINITION TERM DEFINITION Gross Profit Revenue and Other operating income less Costs for CAGR Compound annual growth rate. goods and consumables Adjusted EBITA Operating profit or loss before amortisation and impairment of intangible assets and excluding Adjustments. EPS Earn
Slide 39: Diversified end markets
Diversified end markets Industrial Chemicals Life Sciences CASE Personal Care Pharmaceuticals & Healthcare Very large more cyclical market Rise of small independent brands driving Highly regulated with long approvals and undergoing some customer consolidation innovation, high level of new product hi