Medios Ag · XETR:ILM1
Medios — Investor Day (September 2026)
107 slides from Medios's investor day presentation, Sep 29, 2026
Slide 1: Capital Markets Day 2026 – Medios Next Level
CAPITAL MARKETS DAY 2026 Medios Next Level Strategy and operating businesses update Breda/NL, 29 Sept 2026
Slide 2: Agenda
Agenda Welcome 09:00 – 09:05 Katrin Neuffer, Director Investor Relations & Communications Strategy: Medios Next Level 09:05 – 09:35 Thomas Meier, CEO Specialty Pharma Supply: High Performing Cash Engine 09:35 – 10:05 Christoph Prusseit, CBO Germany Short Break 10:05 – 10:25 Compounding as a Growth E
Slide 3: Agenda
Agenda Short Introduction – What You Will See at Ceban Pharmaceuticals 12:05 – 12:15 Constantijn van Rietschoten, CBO International Standing Lunch, Networking, and Exhibition 12:15 – 13:15 Ceban Site Tour and Showcases 13:20 – 15:45 Group 1 Group 2 Group 3 Group 4 Transfer to Ceban 13:20 – 13:37 13:
Slide 4: Agenda
Agenda Welcome Back and Refreshment Break 15:45 – 16:00 Wrap-up 16:00 – 16:10 Thomas Meier, CEO Final Q&A 16:10 – 16:35 Katrin Neuffer, Director Investor Relations & Communications Closing Remarks 16:35 – 16:40 Thomas Meier, CEO & Katrin Neuffer, Director Investor Relations & Communications
Slide 5: Strategy: Medios Next Level
Strategy: Medios Next Level Thomas Meier, CEO
Slide 6: Agenda
Agenda Thomas Meier Chief Executive Officer 1. Customers and Markets 2. Starting Position 3. Medios Next Level 4. Strategic Way Forward 5. Group Financial Targets & Takeaways
Slide 7: Healthcare Transformation Is Expanding the Opportunity for Medios
01. Customers and Markets – Structural Growth Drivers Healthcare Transformation Is Expanding the Opportunity for Medios Structural Trends Specialty & Personalized Supply Security & Digitalization & Evolving Regulation & Aging & Chronic Disease Therapies Resilience Automation Cost Pressure What This
Slide 8: Medios Operates in a Structural Growth Market
01. Customers and Markets Medios Operates in a Structural Growth Market 9% 41% We operate in a structural growth market Specialty Pharma Supply and Compounding grow structurally, not cyclically – aging, chronic disease, innovation of EU GDP goes to of pharma spend on healthcare – large complex speci
Slide 9: Partners: Their Challenges, Our Answers
01. Customers and Markets – Building up Reliable Networks Partners: Their Challenges, Our Answers Medical Pharma Pharmacies Hospital Clinics Specialists Companies Economic pressure, Patient-specific Growing outpatient Steer complex Access to a fragmented specialty logistics demand; capacity and care
Slide 10: Regulatory Expertise Turns Complexity into Opportunity
01. Customers and Markets – Creating Value Through Regulatory Expertise Regulatory Expertise Turns Complexity into Opportunity How Regulation Shapes the Market How We Turn Regulatory Framework into Value SPS: Stable frame- Compounding: High Understand & explain works, essential standards, We anticip
Slide 11: Milestones on the Way to a €2bn Company
02. Starting Position – Medios Is a 10-Year Growth Story Milestones on the Way to a €2bn Company * Segment revenue, EBITDA pre¹ margin (in €m, %) 2,079 2,100–2,160 1,883 8% 1,785 5% 11% 1,611 13% 11% 14% 81% 1,357 87% 84% 5% 86% 95% 4.2 4.5 4.1 - 4.4 627 3.4 3.4 10% 2.8 2.4 90% 2020 2021 2022 2023 2
Slide 12: Specialty Pharma Supply – Compounding
SPECIALTY PHARMA PHARMA SERVICES Specialty Pharma Supply – Compounding 29 Sept 2026, Medios Next Level CMD, Breda/NL – Thomas Meier, CEO 9
Slide 13: Two Businesses & Five Business Partners
03. Medios Next Level – Focused Organization Two Businesses & Five Business Partners Group Positioning PHARMA SERVICES Segments COMPOUNDING SPECIALTY PHARMA SUPPLY Sterile Non-Sterile Compounding Specialized Import/ Pharmaceutical Services Compounding Compounding Ingredients Wholesale Export Entrepr
Slide 14: Broaden the Scope, Focus Operations
03. Medios Next Level – Positioning & New Organization Broaden the Scope, Focus Operations The “Why” of Pharma Services The “Why” of Two Operating Segments Reflecting the Medios of tomorrow. Reflecting two distinct business models. Building on a strong Specialty Pharma Supply business, Medios will S
Slide 15: Playing in an Attractive Niche
03. Medios Next Level – Growing Demand for Pharma Services Playing in an Attractive Niche Pharmacies, Hospitals, Pharma Companies Clinics, Medical Specialists • Drug development • Industry-like processes • Patient care & dispensing – • Industrial processes for highly (quality & efficiency) for singl
Slide 16: What Genuinely Sets Medios Apart
03. Medios Next Level – USPs What Genuinely Sets Medios Apart Integrated Solutions for Regulatory & Pharmaceutical Individualized & Expertise Specialized Medicines • Deep product knowledge; • Specialty Pharma Supply, mastery of a complex regulatory Compounding and APIs landscape from a single source
Slide 17: Focused Business Model with Three Value Streams
03. Medios Next Level – How Medios Creates Value Focused Business Model with Three Value Streams API Producers (CDMO) APIs APIs Compounding Outsourced Products & Services Licensed Pharma Products Pharmacies Developers & Specialty Licensed Pharma Supply Products Hospitals Manufacturers Clinics 29 Sep
Slide 18: Unique Business Model Providing Essential Synergies
03. Medios Next Level – More than the Sum of Its Parts Unique Business Model Providing Essential Synergies Procurement • Compounding buys on specialty pharma supply volume with positive margin impact. Shared Market Access • Customers are served by both segments, enabling a broad range of individual
Slide 19: Transformation to Medios Next Level Has Already Begun
03. Medios Next Level – Execution of Our Agenda Transformation to Medios Next Level Has Already Begun Discontinue Optimize Grow Advanced Therapies Streamline · Aschaffenburg Acquisition of Caelo* • Capital-intensive and outside • Closure of a redundant, • Value-accretive bolt-on – our core value cha
Slide 20: What These Trends Mean for Medios
03. Medios Next Level – Opportunities Outweigh Challenges What These Trends Mean for Medios Trend Impact on Medios Five-year Outlook –– China API dependence Price & supply pressure Supply risk ++ Industrialization of Compounding Core business scales Very positive ++ AI in production & logistics Effi
Slide 21: Future Readiness Through Innovation
03. Medios Next Level – Four Innovation Levers Future Readiness Through Innovation 1 2 3 4 Automation Digital & Data AI Process Platforms Use Cases • Automation that • Digital, data-based • First concrete • Defining the Medios raises quality and processes coming showcases for innovation & growth thr
Slide 22: Our Profitable Growth Story – Four Building Blocks
04. Strategic Way Forward – How to Approach the Next Level Our Profitable Growth Story – Four Building Blocks Operational Excellence Growth Initiatives International Expansion Value-accretive M&A 29 Sept 2026, Medios Next Level CMD, Breda/NL – Thomas Meier, CEO 19
Slide 23: Operational Excellence: Scaling Quality, Speed and Cost Leadership
04. Strategic Way Forward – Operations for Future Growth Operational Excellence: Scaling Quality, Speed and Cost Leadership One operating model for a growing European Pharma Services network 01 Right-Size the 02 Increase Focus 03 Steer Performance Network and Speed Through KPIs • Optimize capacity a
Slide 24: Examples for Growth Initiatives – Where We Want to Grow
04. Strategic Way Forward – Organic Growth Examples for Growth Initiatives – Where We Want to Grow Pharmaceutical Hospitals & Clinics APIs / Essentials Go-to-Market Push Entrepreneur Hospitals: ~50% of sterile Grow the API & raw- Market-share gains Act as pharmaceutical compounding in DE, ~85% mater
Slide 25: Value-Accretive M&A with Focus on Compounding
04. Strategic Way Forward – M&A Strategy Value-Accretive M&A with Focus on Compounding Selective bolt-ons accelerate the shift toward ~€300m higher-value Compounding Cumulative M&A through 2031 Compounding-led · Controlling stakes · Measurable synergies · Accountable integration 1 2 3 4 Strengthen t
Slide 26: Medios 2031 Group Financial Targets
05. Group Financial Targets & Takeaways Medios 2031 Group Financial Targets*: Revenue Revenue €3.1bn EBITDA adj. €170m (5.5%) Compounding €2.1 Revenue €0.8bn Revenue bn EBITDA adj. €119m (14.2%) EBITDA pre €93.1m (4.5%) Compounding Inorganic growth Revenue €0.4bn EBITDA pre €53m (13.7%) €300m M&A Sp
Slide 27: Group Target Picture 2031
05. Group Financial Targets & Takeaways – Complete Medios House Group Target Picture 2031 Strategic Foundation Customer Operational Innovation & People & Culture Sustainability Centricity & Excellence Technology Service & Quality Unlocking Potential Logistic solutions for Value-accretive M&A Integra
Slide 28: Group Target Picture 2031
05. Group Financial Targets & Takeaways – Complete Medios House Group Target Picture 2031 Logistic solutions for Integrated, data- Defending cost Doubling Value-accretive M&A Unlocking What we need material based business leadership with an Compounding with to get there for the Compounding Potential
Slide 29: Group Target Picture 2031
05. Group Financial Targets & Takeaways – Complete Medios House Group Target Picture 2031 Pharma Services Group Vision Where we want to go 2031: €3.1bn Revenue, 5.5% EBITDA adj. Margin Segments COMPOUNDING SPECIALTY PHARMA SUPPLY Sterile Non-sterile Pharmaceutical Specialized Import/Export Pharmaceu
Slide 30: The Medios Equity Story
05. Group Financial Targets & Takeaways The Medios Equity Story 1 2 3 4 5 Structural Focus and Operational Growth Fueled Disciplined Value Growth Drivers Transparency Excellence by Resilient Base Creation Aging, A streamlined Standardization, Compounding Organic initiatives, personalization, and org
Slide 31: Thank You
THANK YOU.
Slide 32: Next Up: Specialty Pharma Supply
NEXT UP Specialty Pharma Supply: High Performing Cash Engine Christoph Prusseit, CBO Germany
Slide 33: Specialty Pharma Supply: High Performing Cash Engine
Specialty Pharma Supply: High Performing Cash Engine Christoph Prusseit, CBO Germany
Slide 34: Agenda
Agenda Christoph Prusseit Chief Business Officer Germany 1. Medios as Relevant Partner for Specialty Pharma Supply 2. A Structurally Growing Attractive Market 3. Profile and Differentiation 4. Strategy 2031: Our Way Forward 5. SPS Financial Targets & Takeaways
Slide 35: How We Secure Supply of Specialty Pharma
01. Medios as Relevant Partner – Some Tangible Examples How We Secure Supply of Specialty Pharma Acting as Pharmaceutical Immunoglobulins (Covid-19) Haemophilia Entrepreneur Situation Situation Situation Plasma supply collapsed; some The 2020 dispensing-law change reshaped Originator product becomin
Slide 36: A Resilient, Structurally Growing Market
01. Medios as Relevant Partner – Securing Access to Demanding Medicines A Resilient, Structurally Growing Market Medios secures specialty and shortage cases in close partnership with manufacturers – making them reliably available: Independent of Cycles Steady Market Low Capex Intensity Increasing Co
Slide 37: Oncology Innovation Is Accelerating – Increasing Supply Complexity
01. Medios as Relevant Partner – Trends Toward Specialty Oncology Innovation Is Accelerating – Increasing Supply Complexity Since 2020, oncology has combined faster global launches with novel modalities, smaller patient populations and biomarker-linked treatment selection - increasing the specificit
Slide 38: Specialty Pharma Growing Faster than the Pharma Market
02. A Structurally Growing Attractive Market – Market Development Specialty Pharma Growing Faster than the Pharma Market Revenue of Pharmacies in Germany in 2025 Indexed Growth² (2018 = 100) Rx drugs Specialty Pharma drugs revenue €74.2bn Total revenue¹ Outlook +5.4% YoY 300 260 thereof €63.3bn 220
Slide 39: Strong Position in a Large Drug Sub-Market
02. A Structurally Growing Attractive Market – Specialty Pharmaceutical Supply Strong Position in a Large Drug Sub-Market Rx Drug Sales Specialty Pharma Drug Sales Specialty Pharma Wholesale Market €63.3bn1 €33.8bn² €12.8bn 27% 14% 49% 51% 38% 35% 86% Specialty Pharma Drugs Specialty Pharma Wholesal
Slide 40: A Highly Focused, Efficient Specialist Platform
02. A Structurally Growing Attractive Market – Four Measures of Specialist Focus A Highly Focused, Efficient Specialist Platform Pharmacies Product Range Distribution System Market Potential1 ~100,000 ~20 €63.3bn ~16,500 ~53% €33.8bn ~6% ~1% 10% ~ 1,000 2 ~ 1,000 All Highly Full Specialty Regional C
Slide 41: SPS at a Glance
03. Profile and Differentiation – Specialty Pharma Supply Portfolio and Activities SPS at a Glance Specialty Pharma Supply Specialized Wholesale Import/Export Acting as Pharmaceutical Direct-sourced supply of high- Regulated Import/Export that Entrepreneur value specialty medicines to widens availab
Slide 42: SPS Financial Performance
03. Profile and Differentiation – Development Since 2021 SPS Financial Performance YoY in € million 2021 2022 2023 2024 2025 H1 26 Revenue external 1,294.5 1,390.3 1,558.1 1,580.0 1,688.8 868.4 delta (YoY in %) 7.4% 12.1% 1.4% 6.9% 8.5%* EBITDA pre 33.7 38.0 46.7 50.0 52.5 23.6 delta (YoY in %) 12.9
Slide 43: The Portfolio Is Defined by Value, Not by Indication
03. Profile and Differentiation – Securing Access to Demanding Medicines The Portfolio Is Defined by Value, Not by Indication The real selection criterion: high-price, high-margin specialty medicines. The six indication areas set the frame — they do not restrict us. Breadth is deliberate: a wide bas
Slide 44: Peers
03. Profile and Differentiation – Comparison of the Leading German Pharma Wholesalers (FY 2024/25 / 2025) Peers Revenue Comparison 2024/25 Medios Advantages to customers in € bn Own manufacturing centers Close integration enables efficient processes and high 1.7 vertical integration. Specialty Pharm
Slide 45: Strengthen Margins and Cash Conversion While Growing Selectively
04. Strategy 2031 – Our Way Forward for Profitable Growth of Specialty Pharma Supply Strengthen Margins and Cash Conversion While Growing Selectively Core Economics Cash Conversion Growth Allocation Optimize the Margin Manage Cash Grow Selectively Improve EBITDA margin through Preserve differentiate
Slide 46: Value Creation Priority 1 · Shifting from Volume to Value
04. Strategy 2031 – Optimize the Margin Value Creation Priority 1 · Shifting from Volume to Value Margin over Volume Granular Steering Portfolio Discipline Scalable Growth Prioritize EBITDA margin Manage profitability by Apply clear EBITDA Combine site synergies over pure revenue customer, product a
Slide 47: Value Creation Priority 2 · Manage Cash, Preserve Customer Value
04. Strategy 2031 – Manage Cash Value Creation Priority 2 · Manage Cash, Preserve Customer Value Differentiated Customer Enablement Inventory Discipline Payment Terms Payment terms support Include funding cost, Optimize inventory pharmacies handling credit risk and capital without compromising high-
Slide 48: Value Creation Priority 3 · Convert Growth into Earnings
04. Strategy 2031 – Grow Selectively Value Creation Priority 3 · Convert Growth into Earnings Quality over Pace Focused Growth Areas Prioritize incremental Focus on selected earnings over pure top- customers, regions and line expansion new higher-margin business areas Situation Opportunity How to Ad
Slide 49: Specialty Pharma Supply – Financial Targets
05. SPS Financial Targets & Takeaways Specialty Pharma Supply – Financial Targets* Revenue €2.3bn Revenue €1.7bn EBITDA adj. €68m (3.0%) Organic growth EBITDA pre CAGR ’25–’31: 5.0% €53m (3.1%) Baseline 2025 Target 2031 *Management assumptions; aggregated figures may show rounding differences 29 Sep
Slide 50: Key Takeaways
05. SPS Financial Targets & Takeaways Key Takeaways 1 2 3 4 5 Structurally Privileged Margin Leader The Cash Engine Profitable Growing Access Today Growth A structurally 100% direct sourcing Already the A scaled, structurally Optimize the expanding market: and direct profitability essential business
Slide 51: Thank You
THANK YOU.
Slide 52: 20-Minute Break – Compounding as a Growth Engine
20-MINUTE BREAK Compounding as a Growth Engine Constantijn van Rietschoten, CBO International
Slide 53: Compounding as a Growth Engine
Compounding as a Growth Engine Constantijn van Rietschoten, CBO International
Slide 54: Agenda
Agenda Constantijn van Rietschoten Chief Business Officer International 1. ONE Medios Compounding Business 2. Pharmaceutical Compounding: Supply Security and Individualized Medicines 3. A Growing Niche Market in a Highly Regulated Environment 4. Strategy for Profitable Growth 5. Financial Targets &
Slide 55: Compounding at a Glance
01. ONE Medios Compounding Business Compounding at a Glance Key Facts 754 4 14 34 11 Employees* Operating Markets Selling Countries Locations GMP Facilities Key Priorities 01 02 03 04 05 Win Hospitals & Accelerate New Operational Integration European Clinics Product Develop. Excellence Excellence Pl
Slide 56: Compounding Financial Performance since 2021
01. ONE Medios Compounding Business Compounding Financial Performance since 2021 YoY in € million 2021 2022 2023 2024 2025 H1 26 Revenue external 62.2 220.0 226.0 302.4 389.6 206.5 delta (YoY in %) >100.0% 2.7% 33.8% 28.8% 7.8%* EBITDA pre 7.9 23.7 21.8 39.6 53.2 26.3 delta (YoY in %) >100.0% -7.8%
Slide 57: Medios' Role in Providing Individualized Medication to Patients
01. ONE Medios Compounding Business Medios’ Role in Providing Individualized Medication to Patients Pharmaceutical compounding is the preparation of customized medications by licensed pharmacies or specialized GMP facilities, adapting active pharmaceutical ingredients (APIs) or existing medications
Slide 58: Medios' Compounding Business Operations All under One Segment
01. ONE Medios Compounding Business Medios’ Compounding Business Operations All under One Segment COMPOUNDING Sterile Compounding Non-Sterile Compounding Compounding Essentials Patient-specific sterile medications Patient-specific non-sterile medications Supply of APIs and other materials, compounde
Slide 59: Compounding Is Essential to Patient Care
02. Pharmaceutical Compounding: Supply Security and Individualized Medicines Compounding Is Essential to Patient Care Dose Adjustment Individualization Alternative Administration Tailoring the strength or Patient-specific preparations matching Providing a medication in a different amount of a medica
Slide 60: How Compounding Contributes to Patient Health
02. Pharmaceutical Compounding: Supply Security and Individualized Medicines How Compounding Contributes to Patient Health Neonatal Parenteral Nutrition Baby Tacrolimus Syrup Bridging Shortages • Individualized parenteral • Indication: prevention of organ • Bridge gaps when the original nutrition fo
Slide 61: Competitive Positioning
03. A Growing Niche Market in a Highly Regulated Environment Competitive Positioning Competitive Archetype Landscape Non-Sterile API / Essentials International Platform Sterile Compounding Compounding Suppliers ZytoService Acofarma Omnicare Medisca Medios Berg-Apotheke Ace Pharma Chemicals Aposan Fa
Slide 62: Medios' Current Market Positioning
03. A Growing Niche Market in a Highly Regulated Environment Medios’ Current Market Positioning Current In-Scope Market Share in Total Growth Growth Drivers Addressable Market by Addressable Market Potential Subsegment • Favorable demographics and Growing growing treatment volumes at 4% 9% ~7% 8% •
Slide 63: Key Priorities
04. Strategy for Profitable Growth Key Priorities Accelerate Win Hospitals & New Product Operational Integration European Clinics Development Excellence Excellence Platform 29 Sept 2026, Compounding as a Growth Engine, Breda/NL – Constantijn van Rietschoten, CBO International 11
Slide 64: Strengthen Hospital and Clinic Focus
04. Strategy for Profitable Growth Strengthen Hospital and Clinic Focus Hospitals Clinics Market Potential Market Potential • Untapped potential: ~50% of sterile compounding in DE, ~85% • Large, attractive market with strong margins; unique market in NL in hospitals which is not outsourced (> €3bn)
Slide 65: Accelerate New Product Development
04. Strategy for Profitable Growth Accelerate New Product Development Medios’ Capabilities Concrete Initiatives • Spot opportunities early: • Started ophthalmic sterile Systematic screening and compounding in BE on 01/09 dedicated local innovation teams • Expand home infusion therapy, • Capture shor
Slide 66: Drive Operational Excellence & Leverage
04. Strategy for Profitable Growth Drive Operational Excellence & Leverage Optimization Goals Concrete Initiatives • Optimize facility network and • Closing of Aschaffenburg site in DE and redistribute volumes capacity utilization across the network • Increase labor, equipment and • Extend cleanroom
Slide 67: Launch of New Software Solution to Gain Market Share
04. Strategy for Profitable Growth Launch of New Software Solution to Gain Market Share Exclusive Partnership to Increase Oncology Market Share in Germany + Market Opportunity • ~500 oncological practices in DE • Low digital adoption • Need for digital workflow and digital ordering Co-development of
Slide 68: Integration Excellence: Caelo
04. Strategy for Profitable Growth Integration Excellence: Caelo Key Facts Strategic Rationale • Creates a leading European API platform • Establishes market leadership in DE Founded Headquarter Market position 1886 Hilden, Germany #1 in Germany • Expands DE offering with value-added services • Comb
Slide 69: New Business Potential through Cross Selling
04. Strategy for Profitable Growth New Business Potential through Cross Selling New Product/Service Offering in Germany New Customer Group(s) • Expand offering to existing pharmacy • Broaden pharmacy reach with a new offering customers with APIs, excipients and other raw targeting virtually all phar
Slide 70: Build an Integrated European Platform through Disciplined M&A
04. Strategy for Profitable Growth Build an Integrated European Platform through Disciplined M&A M&A Criteria Strategic Fit • Geographic expansion into attractive European markets with favorable regulatory frameworks • Focus on sterile, non-sterile compounding and compounding essentials • Expansion
Slide 71: Compounding as a Growth Engine – Financial Targets
05. Financial Targets* & Takeaways Compounding as a Growth Engine Revenue €0.8bn Organic ~€0.5bn Inorganic ~€0.3bn Inorganic Growth €300m M&A EBITDA adj. Revenue €0.4bn €119m (14.2%) EBITDA adj. Organic Growth €53m (13.7%) CAGR ’25–’31: 5.0% Baseline 2025 Target 2031 * Management assumptions; aggreg
Slide 72: Key Takeaways
05. Financial Targets & Takeaways Key Takeaways 1 2 3 4 5 Compounding Attractive Leading position Strategic Five growth Platform Market ambition levers Diversified Well-positioned in an Market leading position Build Europe’s leading Five levers to realize compounding platform attractive, structurall
Slide 73: Thank You
THANK YOU.
Slide 74: Next Up: Financials: Turning Strategy into Value
NEXT UP Financials: Turning Strategy into Value Stefan Bauerreis, Chief Financial Officer
Slide 75: Financials: Turning Strategy into Value
Financials: Turning Strategy into Value Stefan Bauerreis, Chief Financial Officer
Slide 76: Agenda
Agenda Stefan Bauerreis Chief Financial Officer 1. Medios at a Glance 2. Reality Check 3. Strong Financing Position with Low Leverage 4. Making Compounding Transparent 5. A Trustworthy Framework 6. M&A Strategy 7. Group Financial Targets & Takeaways
Slide 77: Medios at a Glance
01. Medios at a Glance – Performance of Medios Medios at a Glance YoY in € million 2021 2022 2023 2024 2025 H1 26 Revenue external 1,357.4 1,610.8 1,784.7 1,883.0 2,078.7 1,074.9 delta (YoY in %) 18.7% 10.8% 5.5% 10.4% 8.4%* EBITDA pre 38.4 54.9 60.5 79.0 93.1 44.0 delta (YoY in %) 42.8% 10.3% 30.5%
Slide 78: 2026 as Starting Point for Profitability Improvements
01. Medios at a Glance – Financial Situation H1 26 2026 as Starting Point for Profitability Improvements Pharmaceutical Patient-specific International HQ Services Group Supply 'PS' Therapies 'PST' Business 'IB' YoY in € million H1 26 H1 25 H1 26 H1 25 H1 26 H1 25 H1 26 H1 25 H1 26 H1 25 Revenue exte
Slide 79: Stock Price Reflects Uncertainties reg. Transformation Process
02. Reality Check – Medios vs Fagron (FY 2025) Stock Price Reflects Uncertainties reg. Transformation Process 33.00 Fagron (FAGR) Medios (ILM1) Fagron Medios Medios excl. Group total wholesale Revenue +9.2% +7.0%* +7.8%* 22.35 external growth EBITDA margin 20.90 (of revenue 20.2% 4.0% 13.6% external
Slide 80: Medios' Share-Price Decline Is Part of a Broad Sector Reset
02. Reality Check – German Peer Comparison Shows Overall Downward Trend Medios’ Share-Price Decline Is Part of a Broad Sector Reset Selected German healthcare small- and mid-caps | Share-price performance since 3 Jan 2022 Share-price performance Indexed to 0% at start date 0.75 6/6 0.5 below Jan 202
Slide 81: We Are More Than a Wholesaler!
02. Reality Check – Changing Perception We Are More Than a Wholesaler! • The new Compounding segment contributed in 2025 19% to the Group's revenue but 50% of its EBITDA pre. • Our strategy aims at growing Compounding organically / inorganically to increase its revenue and profit share (vertical int
Slide 82: Rebuilding Trust by Taking Capital Market Feedback Seriously
02. Reality Check – Perception Study 2025 Rebuilding Trust by Taking Capital Market Feedback Seriously Requirements Measures Two operational reporting segments with Specialty Pharma Business model less complex Supply and Compounding with simplified equity story. Restated reporting and transparent br
Slide 83: Solid Financing with Sufficient Headroom for Growth
03. Strong Financing Position – Deleveraging with Headroom for Growth Solid Financing with Sufficient Headroom for Growth Term Loan EURIBOR + 1.3%-2.4% (3.79%) +€50m €87.5m outstanding €37.5m €30m RCF EURIBOR + 1.0%-2.1% (3.42%) €100m committed €87.5m €70m €83m Attractive terms: well below current m
Slide 84: Track Record of Servicing Debt and Lowering Leverage
03. Strong Financing Position – Leverage Remains Well below the 3.0× Covenant Ceiling Track Record of Servicing Debt and Lowering Leverage 140 3.5× 30 Jun 2026 136.4 135 3.0× Gross debt €200.6m 130 2.5× Less: cash and cash -€83.2m Net debt (€m) equivalents Leverage (x) 125 2.0× 120.7 Net debt €117.4
Slide 85: Focusing Our Organization with Two Operational Segments
04. Making Compounding Transparent – New Organizational Structure and Reporting Lines Focusing Our Organization with Two Operational Segments Current Segment PS PST IB HQ Services Segment Restructuring: Structure • The future SPS segment contains the same underlying businesses as the current PS segm
Slide 86: Making the Compounding Business Transparent
04. Making Compounding Transparent – Financial Bridge to New Structure FY 2025 Making the Compounding Business Transparent in € million SPS Bridge Compounding Bridge HQ Services Bridge EBITDA pre margin EBITDA pre margin 52.5 52.5 29.1 1.9 53.2 H 22.2 17.2% 13.7% -10.8 3.1% 3.1% 10.1% -1.9 -12.7 EBI
Slide 87: Acting from a Position of Strength – In a New Set-Up
04. Making Compounding Transparent – Financial Situation H1 26 in the Restated Table Acting from a Position of Strength – In a New Set-Up SPS Compounding HQ Services Group in € million FY 2025 H1 26 FY 2025 H1 26 FY 2025 H1 26 FY 2025 H1 26 Revenue external 1,688.8 868.4 389.6 206.5 0.2 0.1 2,078.7
Slide 88: From EBITDA pre to EBITDA adjusted with Clearly Defined Items
05. Way Forward with a Trustworthy Framework – Improving Reliability and Transparency From EBITDA pre to EBITDA adjusted with Clearly Defined Items Current Definition of EBITDA Pre Adjustments EBITDA/EBIT Adjustments Stock options M&A impacts and costs Transaction and integration costs from acquisit
Slide 89: Disciplined Capital Allocation
05. Way Forward with a Trustworthy Framework – Strong Focus on Investing in Our Compounding Business Disciplined Capital Allocation 1 2 Organic Growth Inorganic / M&A • Accelerate profitable organic growth in Compounding • Margin-accretive bolt-ons in the Compounding / API core • Sustained capex of
Slide 90: Margin- and Value Accretion by Strengthening Our Core Business
06. M&A Strategy – Framework Margin- and Value Accretion by Strengthening Our Core Business 01 Strengthen the Compounding Core 02 Expand Products and Markets • Focus acquisitions on Compounding, APIs and closely • Add complementary products, services and related capabilities capabilities that increa
Slide 91: Perfect Fit within Our M&A Strategy
06. M&A Strategy – Caelo Acquisition Perfect Fit within Our M&A Strategy * On 11 August 2026, Medios signed an agreement to acquire a 74% majority stake in Caesar & Loretz (Caelo); all anti-trust clearances have been obtained and closing is expected shortly. Our M&A Criteria Why Caelo Fits Leading p
Slide 92: Financial Assessment of the Transaction
06. M&A Strategy – Caelo Adds €3.4m of Synergies by 2028/29 at a 5.4× EBITDA Multiple Financial Assessment of the Transaction * Synergies [in € million] +1.3 • Focus on synergies from operational cooperation +1.0 between Magis Pharma, Metapharmaceutical and +2.1 Caelo +1.7 • Providing additional add
Slide 93: Strong Firepower within a Prudent Corridor
06. M&A Strategy – Financial Planning (Acquisition Timing Is Not Guidance) Strong Firepower within a Prudent Corridor 3.5× Bank Covenant: 3.0× 3.0× 2.5× Internal leverage ceiling: 2.0× 2.0× Available covenant buffer ~€325m 2.0× 1.8× cumulative M&A ~€325m firepower 1.5× 1.6× Internal through 2031 1.0
Slide 94: Medios 2031 Group Financial Targets: Revenue
07. Group Financial Targets & Takeaways Medios 2031 Group Financial Targets*: Revenue Revenue €3.1bn EBITDA adj. €170m (5.5%) Compounding €2.1 Revenue €0.8bn Revenue bn EBITDA adj. €119m (14.2%) EBITDA pre €93.1m (4.5%) Compounding Inorganic growth Revenue €0.4bn EBITDA pre €53m (13.7%) €300m M&A Sp
Slide 95: Medios 2031 Group Financial Targets: Adjusted EBITDA
07. Group Financial Targets & Takeaways Medios 2031 Group Financial Targets*: Adjusted EBITDA (Like for Like) Group Adj. m €170 Group Adj. margin 5.5% Compounding 64% €119m (14.2%) Group Adj. €87 m Group Adj. margin 4.2% Group adj. EBITDA Compounding 52% €53m (13.6%) 2.0× (+96%) SPS 50% SPS 36% SPS
Slide 96: Key Takeaways
07. Group Financial Targets & Takeaways Key Takeaways 1 2 3 4 5 We are Restoring capital- Our financial We have the Execution has transforming market trust is discipline has firepower to started, following from a position of our first priority been proved change our a measurable strength earnings mi
Slide 97: Thank You
THANK YOU.
Slide 98: Next Up: Summary
NEXT UP Summary Thomas Meier, CEO
Slide 99: Summary
Summary Thomas Meier, CEO
Slide 100: Q&A Capital Markets Day 2026
Q&A Capital Markets Day 2026
Slide 101: Enjoy the Lunch
ENJOY THE LUNCH WE WILL RESUME AT 13:20 Ceban Site Tour and Showcases
Slide 102: Ceban Visit
CEBAN VISIT PLEASE NOTE YOUR GROUP NUMBER Group 1 and 2 → Buses Group 3 and 4 → Chapel
Slide 103: Agenda
Agenda Ceban Site Tour and Showcases 13:20 – 15:45 Group 1 Group 2 Group 3 Group 4 Transfer to Ceban 13:20 – 13:37 13:23 – 13:40 PPT Showcases 13:20 – 14:00 13:20 – 14:00 Ceban Site Tour 13:40 – 14:20 13:45 – 14:25 Transfer to Ceban 14:10 – 14:27 14:13 – 14:30 Transfer to Hotel 14:42 – 15:05 14:42 –
Slide 104: Welcome Back
WELCOME BACK WE WILL RESUME AT 16:00 Wrap Up Thomas Meier, CEO
Slide 105: Agenda
Agenda Welcome Back and Refreshment Break 15:45 – 16:00 Wrap-up 16:00 – 16:10 Thomas Meier, CEO Final Q&A 16:10 – 16:35 Katrin Neuffer, Director Investor Relations & Communications Closing Remarks 16:35 – 16:40 Thomas Meier, CEO
Slide 106: Wrap-up
MEDIOS NEAT LEVEL Thomas Meier, CE
Slide 107: Thank You!
THANKYOU! GOODBYE AND SAFE TRAVELS