Slide 1: Record 2025 financial performance
11 February 2026 Record 2025 financial performance Phosphorus Analysis, Sweden Géraldine Picaud CEO Marta Vlatchkova CFO
Slide 2: 2025 business highlights
HIGHLY CONFIDENTIAL 2025 business highlights Géraldine Picaud CEO 2 2025 full year results | 11 February 2026 Advanced Trace Metals Analytical Testing, USA
Slide 3: Another year of excellent performance
2025 business highlights Another year of excellent performance Financial performance 2025 Record sales of CHF 6 945 million, up 2.2% year-on-year Strong organic sales growth of 5.6% Record AOI of CHF 1 108 million; 16.0% margin, up 70 basis points Record Free Cash Flow of CHF 841 million (CHF 774 mi
Slide 4: Pillars of Strategy 27 fully implemented
2025 business highlights Pillars of Strategy 27 fully implemented Sustainability and Portfolio People, Performance Strong Financial Digital Trust Focus & Agility & ESG Profile On track to exceed 2027 targets Geographical mix rebalanced Targets achieved ahead of plan Further improvement delivered Hig
Slide 5: CHF 800 million of sales from Sustainability services
Growth: Sustainability CHF 800 million of sales from Sustainability services Sales, CHF million Total growth of 15.1% in 2025 2027 target: at least 1 000 Climate – growth led by renewable energy services as well CHF 600 million as greenhouse gas emissions verification and monitoring incremental sale
Slide 6: CHF 260 million of sales from Digital Trust services
Growth: Digital Trust CHF 260 million of sales from Digital Trust services Sales, CHF million Total growth of 19.2% in 2025 2027 target: 350 at least Connected Products and Technologies benefited from CHF 200 million acceleration in high-assurance cybersecurity evaluations incremental sales by 2027
Slide 7: North America growth target mostly achieved
Growth: Portfolio focus North America growth target mostly achieved Sales, USD billion Achieved 83%1 of target to at least double North America sales 2027 target: 1.8 at least Expanded presence to capture long-term secular growth drivers: double USD sales in North 1.5 North America re-industrializat
Slide 8: 19 bolt-on acquisitions closed in 2025, 5 in early 2026
Bolt-on activity 19 bolt-on acquisitions closed in 2025, 5 in early 2026 Representing total annual sales of more than CHF 190 million 8 2025 full year results | 11 February 2026
Slide 9: Strategy execution driving superior performance
2025 business highlights Strategy 27 execution driving superior performance Sales Adjusted Operating Income (AOI) 5.6% 16.0% 7.5% 5.8% 15.3% 8.1% 15.4% 14.7% CHF million CHF million Sales AOI 6 642 6 622 6 794 6 945 % organic growth 1 023 971 1 040 1 108 % AOI margin 2022 2023 2024 2025 2022 2023 20
Slide 10: Strong growth driven by Safety and Inspection
Testing & Inspection: Industries & Environment Strong growth driven by Safety and Inspection CHF million 2024 2025 I&E Sales 2 214 2 295 Total change 3.7% of which organic 6.5% of which scope 2.1% 33% of which FX -4.9% of Group sales Adjusted Operating Income (AOI) 267 300 AOI margin 12.1% 13.1% Con
Slide 11: A solid year driven by metallurgy activities
Testing & Inspection: Natural Resources A solid year driven by metallurgy activities CHF million 2024 2025 NR Sales 1 655 1 636 Total change -1.1% of which organic 3.4% of which scope 1.0% 24% of which FX -5.5% of Group sales Adjusted Operating Income (AOI) 238 223 AOI margin 14.4% 13.6% Minerals de
Slide 12: Positive momentum across all segments
Testing & Inspection: Connectivity & Products Positive momentum across all segments CHF million 2024 2025 C&P Sales 1 329 1 352 Total change 1.7% of which organic 6.4% of which scope 1.0% 19% of which FX -5.7% of Group sales Adjusted Operating Income (AOI) 287 308 AOI margin 21.6% 22.8% Strong organ
Slide 13: Strong performance driven by Food
Testing & Inspection: Health & Nutrition Strong performance driven by Food CHF million 2024 2025 H&N Sales 835 882 Total change 5.6% of which organic 7.3% of which scope 1.6% 13% of which FX -3.3% of Group sales Adjusted Operating Income (AOI) 95 124 AOI margin 11.4% 14.1% Double-digit organic growt
Slide 14: Growth led by Sustainability and Digital Trust
Certification: Business Assurance Growth led by Sustainability and Digital Trust CHF million 2024 2025 BA Sales 761 780 Total change 2.5% of which organic 4.2% of which scope 3.0% 11% of which FX -4.7% of Group sales Adjusted Operating Income (AOI) 153 153 AOI margin 20.1% 19.6% Continued double-dig
Slide 15: 2025 financial performance
HIGHLY CONFIDENTIAL 2025 financial performance Marta Vlatchkova CFO 15 2025 full year results | 11 February 2026 Environmental Monitoring Analysis, Belgium
Slide 16: Record 2025 financial performance
Financial KPIs Record 2025 financial performance Sales Adjusted Operating Income CHF 6 945 million CHF 1 108 million +5.6% organic growth +70bps to 16.0% margin on sales Earnings per Share Free Cash Flow Before HQ disposal Before HQ disposal CHF 3.21 CHF 774 million +3.5% versus prior year 57% cash
Slide 17: Strong organic sales growth of 5.6%
2025 sales Strong organic sales growth of 5.6% Sales bridge CHF million +5.6% +1.7% -5.1% +2.2% +114 -340 6 945 6 794 +377 +7.3% at constant currency 2024 sales Organic Scope Forex 2025 sales 17 2025 full year results | 11 February 2026
Slide 18: Strong organic sales supported by all operations
2025 performance by division Strong organic sales supported by all operations Sales by region CHF million Testing & Inspection Certification SGS Group 5.7% 4.2% 5.6% 2.4% 7.7% 6 945 2 027 1 994 3.9% 5.3% 13.6% 778 750 616 780 Asia North Eastern Europe, Latin Europe Business Assurance 2025 sales Paci
Slide 19: Record AOI of CHF 1 108 million; 16.0% margin, up 70 bps
2025 Adjusted Operating Income (AOI) Record AOI of CHF 1 108 million; 16.0% margin, up 70 bps AOI margin bridge CHF million +70 basis points 16.0% 15.3% +108 +26 -66 1971 040 1 108 2024 AOI Organic Scope Forex 2025 AOI 19 2025 full year results | 11 February 2026
Slide 20: CHF strong against all major currencies
FX impact CHF strong against all major currencies Currency impact on sales growth Currency impact on Adjusted Operating Income (AOI) (CHF million) (CHF million) 2025 sales 2025 AOI at constant currency 7 285 at constant currency 1 174 CNY -1.0% CNY USD -0.6% USD EUR -0.4% EUR CAD -0.3% CAD AUD -0.2%
Slide 21: Efficiency plans fully executed
CHF 150 million organizational efficiencies Efficiency plans fully executed 100 m 50 m CHF CHF Lean operating model Procurement savings New organization Contracts renegotiation Corporate simplification Consumables harmonization Country structure simplification Indirect spend optimization Fully execu
Slide 22: CHF 115 million savings realized on efficiency plans
CHF 150 million organizational efficiencies CHF 115 million savings realized on efficiency plans Phasing of savings impact1 CHF million 150 35 115 65 50 FY 2024 FY 2025 Savings FY 2026 Total accounted for as efficiency of December 2025 plans 1 At 2023 constant exchange rate 22 2025 full year results
Slide 23: Earnings per Share before HQ disposal of CHF 3.21
Full P&L Earnings per Share before HQ disposal of CHF 3.21 CHF million 2024 2025 Change Sales 6 794 6 945 +151 + 2.2% Adjusted Operating Income (AOI) 1 040 1 108 +68 + 6.5% Amortization and impairment of acquired intangibles -30 -39 -9 Restructuring -82 -45 +37 Other non-recurring items and transact
Slide 24: 2025 sales and EPS growth comparison in EUR and USD
FX impact 2025 sales and EPS growth comparison in EUR and USD CHF EUR equivalent USD equivalent 2025 sales, in million 6 945 7 413 8 356 Organic growth +5.6% +5.6% +5.6% Scope +1.7% +1.7% +1.7% Forex -5.1% -3.4% +1.0% Total sales growth +2.2% +3.9% +8.3% CHF EUR equivalent USD equivalent EPS before
Slide 25: Record FCF before HQ disposal of CHF 774 million
Free Cash Flow (FCF) review Record FCF before HQ disposal of CHF 774 million CHF million 2024 2025 Change Adjusted Operating Income (AOI) 1 040 1 108 +68 Depreciation and amortization 438 431 -7 Adjusted EBITDA 1 478 1 539 +61 Restructuring cash-out -44 -36 +8 Change in operating working capital 19
Slide 26: Industry-leading ROIC of 24%
Return on Invested Capital (ROIC) Industry-leading ROIC of 24% ROIC 24% 24% 22% 2023 2024 20251 1 Before HQ disposal 26 2025 full year results | 11 February 2026
Slide 27: Strengthening financial profile
Leverage Strengthening financial profile Leverage Net debt after leases / Adjusted EBITDA 2.0x 1.8x 1.7x 2023 2024 2025 27 2025 full year results | 11 February 2026
Slide 28: Attractive shareholder remuneration
Proposed dividend Attractive shareholder remuneration Proposed dividend Attractive shareholder remuneration through stable dividend of CHF 3.20 Scrip dividend, optional shares or cash, to be proposed at the next Annual General Meeting on 26 March 2026 Environmental Chemical Analysis, China 28 2025 f
Slide 29: 2025 ESG performance
Corporate sustainability 2025 ESG performance Responsible Business Education People Environment 92% 7.7 million 32.5% -16.1% customer training hours leadership positions reduction in satisfaction score held by women Scope 3 emissions1 1 vs 2019 baseline in compliance with SBTi requirements 29 2025 f
Slide 30: Outlook
HIGHLY CONFIDENTIAL Outlook Géraldine Picaud CEO 30 2025 full year results | 11 February 2026 Sample Transport by Autonomous Drones, Belgium
Slide 31: 2026 outlook
Delivering Strategy 27: Accelerating growth, building trust 2026 outlook 5% to 7% organic sales growth 5% to 7% additional sales from acquisitions, including ATS ≥ 16% Adjusted Operating Income margin, in reported terms > 50% cash conversion Capital Markets Event to be planned before the end of 2026
Slide 32: Appendix
Appendix 32 2025 full year results | 11 February 2026
Slide 33: Organic growth led by Industries & Environment and Connectivity & Products
Q4 2025 sales by end-market Organic growth led by Industries & Environment and Connectivity & Products CHF million Sales Organic growth Industries & Environment (I&E) 592 7.5% Natural Resources (NR) 430 3.6% Connectivity & Products (C&P) 341 6.4% Health & Nutrition (H&N) 224 5.4% Business Assurance
Slide 34: Strong organic sales growth of 5.7% in Q4
Sales bridge Q4 2025 Strong organic sales growth of 5.7% in Q4 Sales bridge CHF million +5.7% +1.9% -5.7% +1.9% +34 -100 1 794 1 760 +100 Q4 2024 sales Organic Scope FX Q4 2025 sales 34 2025 full year results | 11 February 2026
Slide 35: Reminder of Strategy 27 targets
Delivering Strategy 27: Accelerating growth, building trust Reminder of Strategy 27 targets Adjusted Operating Income Free Cash Flow Sales margin on sales After leases and interests Significant improvement 5% - 7% > 50% at least 1.5 percentage organic growth cash conversion points vs 2023 Annually B
Slide 36: Financial calendar
Upcoming events Financial calendar Annual General Meeting Q1 2026 sales update H1 2026 results Zürich Virtual Virtual 26 March 2026 23 April 2026 24 July 2026 Q3 2026 sales update Capital Markets Event FY 2026 results Virtual Zürich 23 October 2026 To be planned in 2026 11 February 2027 36 2025 full
Slide 37: Disclaimer
SGS Disclaimer Certain matters discussed in this presentation may constitute forward-looking statements that are neither historical facts nor guarantees of future performance. These forward-looking statements reflect current assumptions, expectations and views of the management and are subject to kn
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