Slide 1: H1 2026 Update
eee . Innovation @e@azeliS _troun ‘ormulation eee H1 2026 Update 30 July 2026
Slide 2: Agenda
Agenda • Key developments & business update • Financial performance • Outlook • Q&A Anna Bertona Boris Cambon -Lalanne Group CEO Group CFO H1 2026 update | 30 July 2026
Slide 3: Disclaimer
Disclaimer • This document may contain statements relevant to Azelis Group NV (the “Company”) and/or its affiliated companies (collectively “Azelis” or the “Azelis Group”) which are not historical facts and are hereby identified as “forward -looking statements” . Such forward -looking statements inc
Slide 4: Key developments & business update
Key developments & business update H1 2026 update | 30 July 2026
Slide 5: Return to organic growth
Return to organic growth 4% organic revenue growth in Q2 1 2026 after four quarters of organic decline Resilient margins achieved through 2 disciplined execution during inflationary period Strong Adjusted EBITA growth in Q2: 3 +12% versus the prior year, +23% versus Q1 5 H1 2026 update | 30 July 202
Slide 6: H1 2026 Results Highlights
H1 2026 Results Highlights Headline results Organic revenue drivers Positives: €2.2bn Group revenue 1. Organic growth continuation in APAC (ex -ANZ) (+3.2% in cc) driven by positive momentum in volumes and pricing €233m adjusted EBITA 2. Continued positive momentum in Life Sciences in (44.4% convers
Slide 7: Financial performance
Financial performance H1 2026 update | 30 July 2026
Slide 8: EBITA evolution reflects focus on growth and cost discipline
EBITA evolution reflects focus on growth and cost discipline Azelis Group highlights Reported Constant H1 2026 H1 2025 Adjusted EBITA Evolution change currency (EUR m) Life Sciences 1,359 1,350 0.7% 3.8% 10.9% 10.7% Industrial Chemicals 807 809 -0.3% 2.1% Group revenue 2,166 2,159 0.3% 3.2% Gross pr
Slide 9: Improving trends in APAC and Americas
Improving trends in APAC and Americas EMEA Americas Asia Pacific Adjusted EBITA margin Adjusted EBITA margin Adjusted EBITA margin 12.6% 12.9% 11.6% 11.1% 10.1 % 10.1 % Revenue (EUR m) Revenue (EUR m) Revenue (EUR m) 979 62 990 -6 17 0 760 748 -45 34 0 -30 420 428 -26 25 H1 organic M&A FX 26 H1 25 H
Slide 10: Headline growth breakdown H1 2026
Headline growth breakdown H1 2026 Organic Total F/X M&A growth Organic Total Q2 2026 Q2 2025 (in millions of €) H1 2026 H1 2025 growth growth translation contribution growth growth 507 483 -1.3% 4.9% EMEA 990 979 -0.6% 6.3% -4.6% 1.1% 397 376 5.9% 5.6% Americas 748 760 -3.9% 0.0% 2.3% -1.6% 221 202
Slide 11: Net profit drivers
Net profit drivers Azelis Group (EUR m) H1 2026 H1 2025 Operating profit 188 191 Modest increase in Net Profit despite Net financial expense -66 -70 lower Operating Profit Financial income 3 8 • Lower financial expense offset income Financial expense -69 -78 gap versus prior year Interest expenses o
Slide 12: Higher working capital reflecting positive momentum, temporary cash compression
Higher working capital Temporary cash compression reflecting positive momentum Receivables Inventory Payables FCF conversion EUR million ratio NWC/ 15.9% 15.8% 14.1% 13.9% 16.0% 52.3% Revenue* 21 -107 683 254 678 644 600 233 588 -20 496 534 541 607 -5 440 122 -487 -493 -438 -560 -596 2024 2025 Jun 2
Slide 13: Stable net debt offset by slow EBITDA development
Stable net debt offset by slow EBITDA development 3.3x 3.4x +16 +9 +49 122 +36 1 599 1 578 1 588 (2) Net Debt 31 Dec 2025 FCF Income tax Net Interest paid M&A (1) Others Net Debt 31 Jun 2026 x Leverage ratio at period end (1) Deferred payments for acquisitions in prior years. (2) Includes purchase o
Slide 14: Outlook
Outlook H1 2026 update | 30 July 2026
Slide 15: Near term / Medium term outlook
Near term • Continuation of current trends expected until the Middle East conflict is resolved • Maintain focus on execution of strategic programmes to capture growth and generate cash • Objective to achieve positive adjusted EBITA growth for the full year Medium term • The distribution market for s
Slide 16: Innovation through formulation
Innovation through formulation