Slide 1: Half Year Results 2026
Half Year Results 2026 20 November 2025 Marc Ronchetti – Group Chief Executive Carole Cran – Chief Financial Officer Halma Half Year Results 2026 – 20 November 2025
Slide 2: Introduction
Introduction Marc Ronchetti Group Chief Executive Marco Zitter Growing a safer, cleaner, healthier Service Technician, Rovers Medical Devices future for everyone, every day Halma Half Year Results 2026 – 20 November 2025
Slide 3: Record results reflect power of the model
Record results reflect power of the model Strong organic growth; strong performance across all sectors Very strong margin and high returns Continued substantial investment On track for 23rd consecutive year of record profit Results underpin confidence in power of the model for the long term Halma Ha
Slide 4: Financial Review
Financial Review Carole Cran Chief Financial Officer Paddy Kannan Growing a safer, cleaner, healthier Manufacturing Project Manager, Sentric Safety Group future for everyone, every day Halma Half Year Results 2026 – 20 November 2025
Slide 5: Half year 2025/26: Record first half results
Half year 2025/26: Record first half results Revenue / EBIT1 Revenue EBIT1 excl. one-off3 Strong growth +15% +27% +14%/+23% £1,237m margin: 22.8% (H1 24/25: £1,074m) (H1 24/25: 20.7%) margin: 22.3% (+160bps) R&D spend Acquisitions5 Cash conversion Continued strategic £59m £129m 79% investment 4.8% o
Slide 6: Strong organic revenue growth
Strong organic revenue growth +1.6% +16.7% £1,228m £1,237m (0.8)% +0.9% +15.2% +14.3% Photonics premium (3.2)% ~8% £1,074m Price 1-2% H1 2025/26 H1 2024/25 Organic1 Acquisitions Disposals Currency One-off2 H1 2025/26 Ex one-off 2 1. On an organic constant currency basis. 2: As a result of the Nuvoni
Slide 7: Adjusted EBIT – strong growth and margin
Adjusted1 EBIT – strong growth and margin Adjusted Adjusted EBIT1 margin EBIT1 margin 22.8% 22.3% £282.0m +3.1% +0.4% £273.4m +3.9% +26.7% +22.7% +22.8% (3.4)% Adjusted1 EBIT margin 20.7% £222.5m H1 2025/26 H1 2024/25 Organic2 Acquisitions Disposals Currency One-off3 H1 2025/26 Ex one-off3 1. Adjust
Slide 8: Safety Sector
Safety Sector Revenue by destination Revenue Other R&D spend £463m: +4% (4)% £28m: +11% (1)% organic USA Organic1 +6% H1 24/25: £25m (5)% Asia Pacific 8% +2% organic +9% 25% Profit2 +12% organic 17% R&D % of revenue £125m: +16% 6.1% Organic1 +16% £463m H1 24/25: 5.7% UK 19% +6% 31% Profit2 margin +6
Slide 9: Environmental & Analysis Sector
Environmental & Analysis Sector Excluding one-off4 Revenue4 by destination Other Revenue4 R&D spend Asia Pacific +3% £479m: +33% £16m: +11% Organic1 +36% +23% +1% organic H1 24/25: £14m +27% organic UK 3% 10% +9% Profit2,4 +7% organic 10% R&D % of revenue USA £113m: +37% 3.3% Organic1 +38% Europe £4
Slide 10: Healthcare Sector
Healthcare Sector Revenue by destination Other Revenue R&D spend +34% £287m: +7% +31% organic £15m: +6% Organic1 +7% Asia Pacific H1 24/25: £14m (8)% 9% (7)% organic 12% Profit2 R&D % of revenue £61m: +10% UK USA 5.4% Organic1 +8% +13% 9% £287m 53% +5% H1 24/25: 5.4% +13% organic +9% organic 17% Pro
Slide 11: Cash flow, investment and balance sheet
Cash flow, investment and balance sheet £100m 0 £(100)m £(200)m Working £(300)m capital outflow £75m Investment £(400)m (R&D and capex)3 £93m £(500)m FY25 Net acquisition EBITDA2 spend4 Dividend £(600)m Net debt1 pre-R&D H126 £536m £148m £53m £373m £(700)m Tax, interest Net debt1 Gearing & other5 £6
Slide 12: Purpose-aligned M&A
Purpose-aligned M&A Acquisitions Disposal Environmental & Analysis Healthcare Safety Gyro steering for trenchless drilling Ophthalmology cryogenics Residential fire detection August 2025 April 2025 July 2025 £128m £1.3m £10m* Standalone Keeler bolt-on Financial data indicates the total consideration
Slide 13: Strong performance against financial KPIs
Strong performance against financial KPIs Organic revenue1,2 Organic profit1,2 Adjusted EBIT margin2 EPS growth +22.7% 22.3% +28.6% +16.7% Photonics Range 19-23% premium ~8% Threshold 10% Threshold 5% Threshold 5% R&D investment Acquisition profit3 Cash conversion Return on Total (% of revenue) Inve
Slide 14: FY26 outlook; guidance increased
FY26 outlook; guidance increased Good start to the second half Continue to experience varied conditions in our end markets Geopolitical and economic environment remains uncertain For FY26, expect mid-teens percentage organic1 revenue growth… …including continued benefit from premium photonics growth
Slide 15: Strategy Update
Strategy Update Marc Ronchetti Group Chief Executive Anicia Lanigan Growing a safer, cleaner, healthier Non Contact Lens Supervisor, Volk Optical future for everyone, every day Halma Half Year Results 2026 – 20 November 2025
Slide 16: Sustainable Growth Model
Sustainable Growth Model Clear growth strategy Culture and DNA Ambitious Long-term purpose growth markets Agile business Sustainable model financial model Halma Half Year Results 2026 – 20 November 2025 16
Slide 17: Long-term view Short-term agility
Long-term view Short-term agility Entrepreneurial companies Ambitious • Growing a safer, cleaner, healthier operating close future for everyone, every day to their purpose customers Autonomy to Always looking act fast using to expand their • Increasing safety regulation their deep addressable Long-t
Slide 18: Agility is everything
Agility is everything Autonomy and Accountability Deliver today and Build for tomorrow Speed of a SME and Strength of a global group Maximise opportunity and Invest in future growth Halma Half Year Results 2026 – 20 November 2025 18
Slide 19: Talent is the enabler
Talent is the enabler Halma Half Year Results 2026 – 20 November 2025 19
Slide 20: Video
Video https://youtu.be/Y6Z8Fk26L5o
Slide 21: Talent amplifies our Sustainable Growth Model
Talent amplifies our Sustainable Growth Model Halma Half Year Results 2026 – 20 November 2025 21
Slide 22: Summary
Summary Successful delivery underpinned by: Strength of our Sustainable Growth Model Long-term growth drivers, agility and exceptional talent Confident in power of the model to deliver for the long term Halma Half Year Results 2026 – 20 November 2025 22
Slide 23: Questions
Talent amplifies our Sustainable Growth Model Questions Nehal Patel Fulfillment Supervisor, CenTrak Halma Half Year Results 2026 – 20 November 2025 23
Slide 24: Appendices
Appendices Halma
Slide 25: Strong organic revenue growth
Strong organic revenue growth +1.6% +17.6% £1,237m (0.8)% +15.2% Photonics premium (3.2)% ~8% £1,074m Price 1-2% H1 2024/25 Organic1 Acquisitions Disposals Currency H1 2025/26 1. On an organic constant currency basis. Halma Half Year Results 2026 – 20 November 2025 25
Slide 26: Broad-based revenue growth across all regions
Broad-based revenue growth across all regions Revenue and revenue change by destination Reported Organic constant currency Other Other +8% +8% Asia Pacific 6% Asia Pacific +15% +18% 14% USA USA £1,237m 48% +20% +18% +26% UK 13% +15% UK +8% +7% 19% Europe Europe +12% +8% Halma Half Year Results 2026
Slide 27: Broad-based revenue growth across all regions
Broad-based revenue growth across all regions Revenue and revenue change by destination, excluding one-off1 Reported Organic constant currency Other Other +8% +8% Asia Pacific 7% Asia Pacific +8% +12% 13% USA USA £1,228m 48% +20% +17% +26% UK 13% +14% UK +8% +7% 19% Europe Europe +12% +8% 1: Exclude
Slide 28: Sector performances
Sector performances Revenue Profit1 Safety Environmental 37% Safety 39% & Analysis +4.1% 40% Environmental +16.0% 41% £308m £1,237m & Analysis +47.8% +35.3% Healthcare 23% 20% Healthcare +6.6% +9.5% Revenue excl. one-off2 Profit1 excl. one-off2 Safety Environmental 38% Safety 38% & Analysis +4.1% 39
Slide 29: Sector performances: Organic constant currency
Sector performances : Organic constant currency Revenue Profit1 Safety Environmental Environmental +6.4% & Analysis Safety & Analysis +17.6% +16.3% +38.9% +25.2% +48.7% Healthcare Healthcare +7.4% +7.6% Revenue excl. one-off2 Profit1 excl. one-off2 Safety Environmental +6.4% Environmental Safety & A
Slide 30: Safety Sector
Safety Sector +1.1% £463.1m +6.4% +4.1% (1.7)% £444.7m (1.7)% Revenue H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 £124.8m +0.9% +0.7% +16.0% +16.3% (1.9)% Sector £107.6m profit1 H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 1: See notes on slide 35. 2: On an organ
Slide 31: Environmental & Analysis Sector
Environmental & Analysis Sector Revenue by destination Other Revenue R&D spend Asia Pacific +3% £488m: +35% £16m: +11% Organic1 +39% +47% +1% organic H1 24/25: £14m +52% organic 3% 12% UK Profit2 R&D % of revenue +9% 10% USA £121m: +48% +7% organic +43% 3.2% Organic1 +49% £488m H1 24/25: 3.9% Europe
Slide 32: Environmental & Analysis Sector
Environmental & Analysis Sector +1.6% £488.2m +38.9% +35.3% (0.3)% (4.9)% £360.9m Revenue H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 +4.0% +0.3% £121.5m +48.7% +47.8% (5.2)% Sector £82.1m profit1 H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 1: See notes on slide
Slide 33: Environmental & Analysis Sector – excluding one-off
Environmental & Analysis Sector – excluding one-off3 £478.9m +36.3% +1.6% +32.7% (0.3)% (4.9)% £360.9m Revenue3 H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 +4.0% +0.3% £112.9m +38.2% +37.3% (5.2)% Sector £82.1m profit1,3 H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/
Slide 34: Healthcare Sector
Healthcare Sector +2.5% £286.8m +7.4% +6.6% -% (3.3)% Revenue £269.0m H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 +4.8% £61.2m -% +9.5% +7.6% (2.9)% Sector £55.9m profit1 H1 2024/25 Organic2 Acquisitions Disposals Currency H1 2025/26 1: See notes on slide 35. 2: On an organic cons
Slide 35: Sector history
Sector history £m 2020/21 2021/22 2022/23 2023/24 2024/25 2025/26 H1 FY H1 FY H1 FY H1 FY H1 FY H1 H1 ex one off3 Safety 268.6 587.0 320.2 641.4 355.4 745.6 400.7 823.8 444.7 902.0 463.1 463.1 Environmental & Analysis3 178.0 361.1 209.5 442.9 263.8 552.1 284.1 658.4 360.9 776.6 488.2 478.9 Revenue H
Slide 36: Currency effects
Currency effects US$ % change Euro % change H1 2025/26 H1 2024/25 H1 2025/26 H1 2024/25 Average rates 1.34 1.28 +4.7% 1.17 1.18 (0.8)% versus Sterling Movement for every 1% change* US$ (~52% of revenue) Euro (~14% of revenue) Revenue £6.4m £1.5m Profit £1.7m £0.5m * Based on H1 2025/26 results. Halm
Slide 37: Profit adjustments
Profit adjustments* £m H1 2025/26 H1 2024/25 Intangible amortisation and (28.4) (27.9) impairment Acquisition items** 3.7 (9.3) Disposal of operations (4.0) 3.0 Impairment of associate company - (1.0) (28.7) (35.2) * Items (charged)/credited in arriving at statutory profit. ** Including acquisition
Slide 38: Full Year 2026 forecasts
Full Year 2026 forecasts Notes FY26 forecasts FY25 actual Capex c.£55m £45.6m Effective tax rate 1 c.22.5-23.0% 22.6% Central costs c.£55m £47.7m Net finance expense 2, 3 c.£24m £26.9m Notes: 1. FY26 based on expected mix of profit. 2. Assuming no further acquisitions. 3. FY26 includes estimated £4.
Slide 39: Disclaimer
Disclaimer This document contains statements about Halma plc that are or may be forward-looking statements. Forward-looking statements include statements relating to (i) future capital expenditures, expenses, revenues, earnings, synergies, economic performance, indebtedness, financial condition, div