Hensoldt : Analyst Presentation Closing of Nedinsco Acquisition

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‌HENSOLDT AG Nedinsco Closing - Analyst & Investor Presentation Taufkirchen, 1 st June 2026 ‌Acquisition of Nedinsco closed Dutch optronics specialist with strong engineering capabilities and international platform reach Company Profile Selected Product Offerings Land Naval Locations: Venlo (production and engineering) Eindhoven (engineering) FTE: ~140 Other Selected Product Platforms Driver Vision System Pan & Tilt Gun camera Periscopes Semicon. Inspection Tool Boxer Lynx PzH2000 Leopard 2A8 CV90 Frigate Puma & Schakal Supplier to Platform OEM Supplier to System Provider ‌Geared to Deliver at Scale Further secure supply chain and expand production capacity for sustained growth Strategic Pillar Rationale Supply Chain & Capacity Support Securing the supply chain: Nedinsco is a critical supplier to HENSOLDT, with strong engineering and electro-optical expertise, clear expansion potential and the ability to balance capacities across the supply chain Portfolio & Tech Geographical Expansion Innovation Portfolio expansion: Enables targeted portfolio and technology expansion in the optronics mid-market and opens new OEM relationships not currently addressed by HENSOLDT Geographical footprint: Strengthens HENSOLDT's strategic presence in the Netherlands Rapid prototyping: Enhances HENSOLDT's capabilities in the development, prototyping and testing of new products, supported by its strong R&D setup ‌Terms and key financials Transaction terms and financial profile of Nedinsco − 100% of Nedinsco for an enterprise value in the high double-digit EUR million range − Implied FY 2026E EV/EBITDA multiple in the low- to mid-teens − FY 2026E revenue in the lower double-digit EUR million and Adj. EBITDA in the mid-single digit EUR million range − Revenue CAGR ~20% from FY 2026 to FY 2028, supported by a strong orderbook and pipeline − Cash conversion ~50% Integration concept and impact on HENSOLDT financials − Nedinsco will continue operating from its Venlo site and be integrated into the Optronics segment − The lean structure will be maintained, with gradual alignment to processes and systems − The acquisition will be financed through existing cash − Minimal top and bottom-line impact, since a significant business portion is consolidated − FY 2026 guidance: − Book-to-Bill, Revenue growth, Adjusted EBITDA margin and Dividend confirmed − Adjusted FCF conversion increased from ~40% to ~50%, driven by higher advance payments − Net leverage confirmed at ~1.5x due to increased cash conversion and more favorable lease liabilities 2026 guidance Order intake / Book-to-Bill 1.5x - 2.0x Revenue growth (1) ~€2,750m Adjusted EBITDA margin (2) 18.5% - 19.0% Adjusted FCF (3) ~40% ~50% average conversion on average conversion on adjusted EBITDA adjusted EBITDA Net leverage (4) ~1.5x ~1.5x increased cash conversion and more favorable lease liabilities Dividend 30 - 40% of adjusted net income Mid-term target Orders to grow significantly faster than revenue 15% - 20% annual growth rate back-end loaded +50 bps annual margin improvement ~50% average conversion on adjusted EBITDA Further deleveraging 30 - 40% of adjusted net income ‌Guidance 2026 increased for Adjusted FCF Mid-term targets confirmed Pass through share of total revenue is expected to be in the mid-single digit percentage range in 2026E. Adjusted EBITDA margin excluding certain special items relating to transaction costs, OneSAPnow-related special items and other special items. Adjusted Free Cash Flow is defined as free cash flow excluding certain special items as well as M&A activities. Net leverage including lease liabilities, excluding pensions and liabilities from the agreement for payment services. ‌IR Contacts Contact HENSOLDT share Reports Contact: Tim Schmid Phone: +49 89 51518 2625 Email: [email protected] Internet: https://www.hensoldt.net Type of share: Bearer shares Stock Exchange: Frankfurt Stock Exchange Security reference number: ISIN DE000HAG0005 Financial Reports: https://investors.hensoldt.net Sustainability Report: https://www.hensoldt.net

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