Business
Medios : 260326 Medios Presentation FY25
Medios : 260326 Medios Presentation
About this update from Medios Ag
Full Year 2025 Results Thomas Meier, CEO Falk Neukirch, CFO March 26, 2026 Executive summary Financial overview Guidance 2026, Strategy Appendix 2 Executive Summary > 20 one-on-ones with talents in person First interview conducted, more scheduled Two virtual international townhall meetings > 15 leadership & group meetings My First 54 Days in Office: Listen & Learn During my CEO tenure (2020 - 25) Bachem increased sales by 122% ; EBITDA by 146% and net profit by 175% - Solely organic growth On schedule to visit all key operational sites in my first 100 days Spoken to many colleagues at all levels face-to-face c. 30+ yrs in Pharma Services 6 yrs CEO of Bachem a SIX- listed company; market cap of approx. US$ 6bn Met with largest Medios shareholders in person who own > 45% of Medios equity Participated in an investor conference , talking to potential investors personally & virtually Spoke with several sell-side analysts Met with Key Partners & Customers since day one Participated in the Medios Pharma Circle meeting 3 Executive Summary Highlights FY 2025 Financials FY 2025: Overall, solid financials, mainly driven by 12-month consolidation of Ceban Revenue up by 10.4% to €2.1bn Disproportionate EBITDA pre increase to €93.1m (+17.8%) leading to an EBITDA pre margin expansion of 4.5%; 2.7% organic EBITDA pre growth driven by PS and IB EPS up by 19.6% to €0.61; EPS adjusted €1.94 (+20.5%) Revenue of €2.1bn and an EBITDA pre of €93.1m are broadly in line with the 2025 guidance Strategic and Operational 02/26 & 04/26 New CEO Thomas Meier started; new CFO Stefan Bauerreis will take office on April 15 Preparations of new business opportunities to be fully unfold in 2026 Entry into Medical Cannabis market Sustainability Report in full accordance with Corporate Sustainability Reporting Directive (CSRD) Guidance 2026 Guidance 2026 Revenue €2.0bn - €2.12bn (up to +2.0%), EBITDA pre 1 €94m - €102m (up to +9.6%) Disproportional EBITDA pre growth Assumptions : Organic EBITDA pre growth in the mid-single-digit percentage range 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 one-time expenses due to change in the Executive Board| Adjusted EPS is based on the period result, adjusted for special charges, acquisition- 4 related PPA amortizations, and the resulting adjusted tax expense Executive Summary QoQ - Revenue & EBITDApre Revenue (€m) EBITDA pre¹ (€m) CAGR 2 ~8.0% CAGR 2 ~24.0% 538 549 490 431 422 441 456 451 493 483 485 507 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 24.6 23.2 23.1 23.3 24.0 22.7 17.2 15.0 14.1 14.3 15.1 16.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2023 2024 2025 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 5 one-time expenses due to change in the Executive Board | 2 CAGR Compound Annual Growth Rate Executive summary 0.01% Customer complaint rate ESG Highlights 2025 Sustainability Report in accordance with Corporate Sustainability Reporting Directive (CSRD) Proportion of women 65% in workforce 43% in management Complete Scope 3 Analysis in all relevant categories 43% Share of green electricity (85% in Netherlands: e.g. via new solar panel) We are committed to the UN Global Compact Corporate Responsibility Initiative and its principles in the areas of human rights, labor, environment and anti-corruption 6 Executive summary Financial overview Guidance 2026, Strategy Appendix 7 Financial overview FY 2025 - Solid Group financials In € million FY 2025 FY 2024 ∆ in % Revenue 2,078.7 1,883.0 10.4% Gross profit 1 gross margin in % 203.7 9.8% 154.6 8.2% 31.6% 1.6pp EBITDA pre 2 margin in % 93.1 4.5% 79.0 4.2% 17.8% 0.3pp Conversion rate in % (EBITDA pre/gross profit) 45.7% 51.1% -5.4pp EBIT 46.2 31.7 45.9% Net Income 15.4 12.5 22.4% EPS (€), undiluted 0.61 0.51 19.6% EPS (€), adjusted 3 1.94 1.61 20.5% CF from operating activities 52.3 73.7 -29.0% CF from investing activities -4.0 -222.3 -98.2% Free cash flow 4 (before M&A) 44.0 67.4 -34.7% CF from financing activities -72.6 183.8 <-100% 31 Dec 2025 31 Dec 2024 ∆ in % Inventories 93.3 92.4 0.9% Cash & cash equivalents 81.8 106.0 -22.8% Equity ratio in % Liabilities ratio in % 514.2 56.9% 388.8 43.1% 510.2 54.6% 424.2 45.4% 0.8% 2.4pp -8.3% -2.3pp Comments Revenue growth of 10.4% mainly driven by strong organic growth of PS, and first-time full-year consolidation of Ceban Segments IB & PS: Key drivers of improved profitability Gross profit increased by inorganic growth from IB, by organic revenue growth of all operational segments, and focusing on higher margin revenue; further by elimination of performance-based expenses of €6.2m in PST segment EBITDA pre rose by 17.8% driven by an organic growth of PS and IB and mainly by a strong inorganic contribution of IB (full-year) EPS increased by 19.6% to €0.61/ share due to increased net income - despite one-time material financial expenses (€9.2 m) from revaluation of NCI-liabilities; EPS adjusted by one-offs and PPA effects amount to €1.94/share Strong Operating CF , yet down vs. prior year driven by higher WC and rising tax payments (+€3.8m) Investing CF of €-4.0m mainly consists of capex (€8.3m), subsequent acquisition costs for Ceban (€2.3m) and divestments (€5.9m) and interest received (€0.7m) ; FY 24: dominated by payments for Ceban acquisition Financing CF resulted from scheduled term loan repayments of €25m and net repayments of the RCF €20m, interest payments for loans (€10m), repurchase of treasury shares €12.6m and redemption of lease liabilities (€-5 m) Cash & cash equivalents consisted mainly of freely available bank deposits 8 1 Gross profit = Revenue - Cost of materials | 2 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 one-time expenses due to change in the Executive Board| 3 Adjusted EPS is based on the period result, adjusted for special charges, acquisition-related PPA amortizations, the revaluation of NCI-liabilities and the resulting adjusted tax expense | 4 Calculated as follows: Operating CF less CAPEX | RCF Revolving Credit Facility | NCI Non Controlling Interests Financial overview FY 2025 - Revenue Growth Mainly Driven By PS And IB YoY Revenue in €m FY 24 Organic Inorganic FY 25 Comments Pharmaceutical Supply (PS) 1,580.0 108.8 1,688.8 Inorganic growth attributable to Ceban (IB) Organic growth mainly driven by PS, but also contributions and IB and PST PST contributed €6.5m, of which €6.2m was attributable to the elimination of performance-related expenses for the acquisition of compounding volumes Patient-Specific Therapies (PST) 213.6 6.5 220.1 International Business (IB) 88.8 17.2 63.2 169.2 Services 0.6 -0.1 0.5 Medios Group total 1,883.0 132.4 63.2 2,078.7 Medios Group total in % 7.0% 3.4% 10.4% Revenue bridge 1,883.0 132.4 63.2 2,078.7 FY 2024 Organic Inorganic FY 2025 9 Financial overview FY 2025 - Strong EBITDA Pre Growth Mainly Due To IB YoY EBITDA pre 1 in €m FY 24 Organic Inorganic FY 25 Comments Pharmaceutical Supply (PS) 50.0 2.5 52.5 Organic growth of EBITDA pre by 2.7% driven by PS and IB Ceban (IB) contributes inorganically an EBITDA pre 1 of €12.0m Patient-Specific Therapies (PST) 23.3 -1.1 22.2 International Business (IB) 16.3 0.8 12.0 29.1 Services -10.5 -0.3 -10.8 Medios Group total 79.0 2.1 12.0 93.1 Medios Group total in % 2.7% 15.1% 17.8% EBITDA pre 1 bridge 79.0 2.1 12.0 93.1 FY 2024 Organic Inorganic FY 2025 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 10 one-time expenses due to change in the Executive Board Financial overview FY 2025 - EBITDA Pre Posted Strong Disproportionate Growth Pharmaceutical Supply 'PS' Patient-specific Therapies 'PST' International Business 'IB' Services IFRS consolidation Group YoY in € million FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 FY 24 Segment revenue - extern. delta (yoy in %) 1,689 6.9% 1,580 220.1 3.0% 213.6 169.2 90.6% 88.8 0.5 -15.3% 0.6 n/a n/a 2,078.7 10.4% 1,883.0 EBITDA pre 1 delta (yoy in %) EBITDA pre margin (% of revenue external) 52.5 5.1% 3.1% 50.0 3.2% 22.2 -4.6% 10.1% 23.3 10.9% 29.1 78.8% 17.2% 16.3 18.3% -10.8 3.5% <-100.0% -10.5 <100.0 % n/a n/a n/a n/a 93.1 17.8% 4.5% 79.0 4.2% 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 11 one-time expenses due to change in the Executive Board Financial overview Financing Structure Syndicate loan concluded in Nov 2024 : €225m , consisting of term loan of €125m , term: 5 yrs, annual redemption €25m; value as of 31 December 25: €100m and Revolving credit facility (RCF) €100m , term 5 (+1 +1) yrs; drawn as of 31 December 25: €55m, potential contractual step-up option of up to €50m Attractive covenant based-margin grid Net debt as of 31December 25 of approx. €120m leading to an attractive leverage ratio of approx. 1.3 Estimated annual free cash flow: c. €40m - €50m available for redemption, interest payments and financing future growth 12 Executive Summary Financial Overview Guidance 2026, Strategy Appendix 13 "I am passionate about working for Medios because patient care is at the center of what we do." Guidance 2026 Guidance 2026 EBITDA pre 1 in €m Revenue in €bn Comments Revenue expected: €2.0 - €2.12bn 93 4.5% margin Up to +9.6% 94 - 102 Up to ~4.8% margin ~2.00 -2.12 2.08 Up to +2.0% (growth up to + 2.0% compared to 2025) EBITDA pre 1 expected: €94 - 102m in 2026 (growth up to + 9.6% compared to 2025) 2025 2026E 2025 2026E 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, expenses for ERP-System implementation, for 2025 one-time expenses due to change in the Executive Board as well as from 2026 one-time 14 expenses for efficiency improvements Strategy Mfg .* Commercial Wholesale Compounding Logistics Dispensing Our Market System (1/2) Operating warehouses/distribu tion centers Buy, hold, sell (specialty)pharma products, including APIs in small packs for inhouse compounding Full-line wholesale or focused wholesale with specialty drug portfolio GMP/GDP-compliant patient-specific and stock/batch compounding - sterile-nonsterile-aseptic preparations Dose calculation, aseptic mixing & filling, from both licenses' medicines and APIs Compounded drugs + standard repackaging and blistering; Business model follows national regulatory framework GMP/GDP- compliant warehousing and cold-chain logistics Time-critical delivery of pharmaceuticals Serialization, track-and-trace, and document for regulatory compliance Hospitals Physicians Pharmacies Clinics (Patients - in case of direct-to-patient mod.) Pharmaceutical Supply (PS) Market access: Pricing & reimbursement Marketing/Sales: Patient marketing, positioning with pharmacies/clinics Regulatory & quality: Pharmacovigilance, registrations etc. 20 community pharmacies acquired with Ceban in NL (Medsen) Patient-Specific Therapies (PST) International Business (IB) Source: BCG Analysis, own additions | *Manufacturing | API Active Pharmaceutical Ingredients 15 Strategy Mfg .* Commercial Wholesale Compounding Logistics Dispensing Our Market System (2/2) Pharmaceutical Supply (PS) Business units Patient-Specific Therapies (PST) International Business (IB) Market size Margin Commercialization services 1 Incl. generalist wholesale ~ €10 - 15bn ~ €260bn na ~ €45bn Specialty ca. 3 - 5% ~ 1 - 3% ~ 15 - 25% ~ 30bn ~ €6bn ~ 5 - 6% ~ 10 - 20% Cold-chain only ~ €7bn ~ €1bn ~ 10 - 20% Pharmacies only 2 ~ €300bn ~ 3 - 10% 3 ~ €70bn Market CAGR 9 - 10% ~ 5 - 6% ~ 5 - 15% ~ 8 - 10% Summary High growth market with high margins Medium growth market with low margins Very high growth market with high margins High growth market with high margins Medium growth market with varying margins 1 Incl. market access, medical affairs, patient marketing etc. | 2 Incl. OTC & non-pharma revenue | 3 Other EU markets up to 15% Source: EvaluatePharma, FDA, GIRP, PHAGRO, IQVIA, ABDA, World Bank, Expert interviews, BCG Analysis, own estimates | *Manufacturing High 16 Low Strategy We Secure Supply Extension of Pharmaceutical Supply business as pharmaceutical entrepreneur (Pharmazeutischer Unternehmer (PhU)) Exclusive distribution for Germany and full regulatory management for established originator products (e. g. Novartis) 17 Strategy International Business - Medicine Shortages Promethazine 25 mg tablets Shortage Early 2025: risk of shortage identified by sole generic supplier Market demand: >500,000 tablets/month Confirmed supply depletion in Q3 2025 Import exemptions insufficient to meet demand Development Early development initiated before confirmed shortage Available as compounded product since January 2026 Impact Current volume: 65,000 tablets/month and growing 18 Strategy Organizational Development - New CFO Stefan Bauerreis Profile "I am truly delighted to take on this new role and to embrace all the challenges ahead, contributing as a member of the Executive Board to shaping the future of Medios. I will, in my capacity as CFO, contribute with full commitment and passion to further strengthening the success of the Medios Group and to expanding its position as a market leader in Specialty Pharma - both nationally and internationally- in the best interests of our shareholders and employees." Experienced finance expert with many years of international leadership in industry and at publicly traded companies Served as CFO of Stabilus Group and held various senior finance positions within the Schaeffler Group for more than two decades, including as CFO for Europe and CFO for Germany Possesses extensive expertise in Corporate Accounting, Controlling, Financing , as well as in the transformation and management of international companies Guidance 2026 Focus Activities 2026 One Team Medios Harmonize business- & planning processes for compounding & pharmacy supply business ERP/SAP(S4HANA) roll-out for Medios Pharma Ensure better insights and teamwork resulting in faster decisions Operational excellence Network optimization - based on a Capital Master Plan Business integration - based on a Digitalization Roadmap Accelerate organic growth Increase compounding business segment growth-rate with current and new customers Benefit from market trends and regulatory adjustments Selective M&A Value accretive bolt-on acquisitions ERP : Enterprise Resource Planning 20 Medios 2 nd Capital Markets Day Date: 28-29 Sep 2026 Where: Breda, The Netherlands WELCOME AT Ceban in Breda 21 Q & A Question-and-answer session: If you have a question for our speakers , please dial: * 9 # on your telephone keypad now to enter the queue -Once your name has been announced, you can ask a question. If you are logged in via the webcast tool , you can also submit questions at any time using the Q&A icon below the presentation slide at the bottom of the screen. 22 THANK YOU! Executive Summary Financial Overview Guidance 2026, Strategy Appendix 24 "I work for Medios because I can contribute to patient care that meets the highest quality standards." Appendix Successful AGM: May 27, 2025 - Selected Agenda Items Approval of adjusted Compensation system for the Executive Board Realignment of the Short-Term Incentive (STI) New financial KPI: Operational cash flow Objective: stronger focus on operational performance indicators Promotion of efficiency, profitability, and liquidity generation Background: previously 40% weighting on M&A transactions as part of the STI Creation of Stock Option Plan 2025 (SOP 2025) and of new Conditional Capital 2025/I Volume: total of 899,697 subscription rights Performance target (share price): €17 - Exercise price : €15 Total conditional capital reserved for SOPs = max. 10% of the share capital New authorization to issue convertible bonds until May 26, 2030, with the possibility of exclusion of subscription rights Conditional Capital 2025/II of €2,550,572 to fulfill conversion rights for up to 2,550,572 new shares ( 10% of share capital ) Simplified exclusion of subscription rights for new shares of max. 10%* of the share capital (general cross-deduction/cap with Authorized Capital 2024/I) Approval of all proposed resolutions with a large majority * In total, only 10% of new shares can be issued/created while excluding subscription rights due to alternative utilization of the existing Authorized Capital 2024/I and the new Conditional Capital 2025/II, as a total cross-offsetting/cap shall occur (regardless of whether subscription rights are excluded) 25 Appendix ESG Highlights 2026 (March) 0 63 100 Exceeds the industry benchmark D- Top 15% in the Industry C A+ AAA CCC Top 43% in the Industry AA 0 41 100 Top 13% in the Industry 100 Top 9% in the Industry (low risk) 15.4 0 Source: Reports of respective organization 26 Appendix Successful Share Buyback Offer - July 2025 Offer Share buyback: Up to 1,000,000 bearer shares of current share Capital: €25,505,723 (approx. 3.92% ) Offer price per share: €12.50 (Approx. +9.3% premium over the 5-day XETRA average closing price) Authorization: Granted by the AGM on June 21, 2023 (valid until June 20, 2028) Purpose : For all uses permitted by the AGM 2023 resolution: Amongst others, to distribute those shares as part of share-based compensation or employee participation programs or to offer them as consideration in the context of M&A projects Shares tendered: 1,077,813, allocation quota 92.78% 27 Appendix Q4 2025 - Revenue Growth Mainly Driven By PS YoY Revenue in €m Q4 24 Organic Inorganic Q4 25 Comments Pharmaceutical Supply (PS) 388.8 60.6 449.3 Organic growth 14.1%: a result of strong PS revenue increase and also contribution of IB; PST contribution due to the elimination of performance-related expenses for the acquisition of compounding volumes Patient-Specific Therapies (PST) 52.1 2.0 54.1 International Business (IB) 41.5 5.6 -2.1 45.0 Services 0.2 0.0 0.2 Medios Group total 482.5 68.2 -2.1 548.7 Medios Group total in % 14.1% -0.4% 13.7% Revenue bridge 482.5 68.2 -2.1 548.7 Q4 2024 Organic Inorganic Q4 2025 28 Appendix Q4 2025 - EBITDA Pre Slightly Below Q4 2024 Level YoY EBITDA pre 1 in €m Q4 24 Organic Inorganic Q4 25 Comments Pharmaceutical Supply (PS) 13.0 0.8 13.8 Organic growth by IB and PS Decrease by PST Patient-Specific Therapies (PST) 6.5 -2.5 4.1 International Business (IB) 6.5 0.4 0.2 7.1 Services -2.8 0.6 -2.2 Medios Group total 23.2 -0.7 0.2 22.7 Medios Group total in % -3.2% 1.0% -2.2% EBITDA pre 1 23.2 -0.7 0.2 22.7 Q4 2024 Organic Inorganic Q4 2025 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 29 one-time expenses due to change in the Executive Board Appendix Key Figures (1/2) in € thousand FY 2025 FY 2024 ∆ in % Q4 2025 Q4 2024 ∆ in % Revenue 2,078,652 1,883,038 10.4% 548,655 482,533 13.7% Pharmaceutical Supply 1,688,799 1,579,989 6.9% 449,323 388,765 15.6% Patient-Specific Therapies 220,133 213,642 3.0% 54,116 52,068 3.9% International 169,195 88,787 90.6% 45,045 41,530 8.5% Services 525 620 -15.3% 171 170 0.6% EBITDA 84,057 62,953 33.5% 20,422 18,886 8.1% Margin (in % of Revenue) 4.0% 3.3% 21.2% 3.8% 3.9% -2.9% EBITDA pre 1 93,053 78,995 17.8% 22,702 23,216 -2.2% Margin (in % of Revenue) 4.5% 4.2% 7.1% 4.1% 4.8% -12.7% Pharmaceutical Supply 52,539 50,013 5.1% 13,756 12,971 6.1% Patient-Specific Therapies 22,209 23,268 -4.6% 4,064 6,534 -37.8% International 29,124 16,292 78.8% 7,125 6,513 9.4% Services -10,818 -10,451 3.5% -2,243 -2,675 -16.2% EBIT 46,196 31,665 45.9% 10,979 9,350 17.4% Margin (in % of Revenue) 2.2% 1.7% 29.4% 2.0% 1.9% 3.2% Comprehensive income before minority interests 15,365 12,548 22.4% -4,546 2,114 <-100.0% 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 30 one-time expenses due to change in the Executive Board Appendix Key Figures (2/2) in € thousand FY 2025 FY 2024 ∆ in % Q4 2025 Q4 2024 ∆ in % Earnings per share (in €) Undiluted 0.61 0.51 19.6% 0.19 0.08 >100.0% Diluted 0.61 0.51 19.6% 0.19 0.08 >100.0% Adjusted 2 1.94 1.61 20.5% 0.44 0.37 18.9% Investments (CAPEX) 8,291 6,308 31.4% 3,576 2,751 30.0% Cash flow from operating activities 52,273 73,663 -29.0% -391 46,086 <-100.0% Free cash flow 3 (before M&A) 43,982 67,355 -34.7% -3,967 43,335 <-100.0% Extraordinary expenses 8.997 16.042 -43,9% 2.280 4.330 -47.3% Expenses from stock options 1 1,242 1,675 -25.9% 609 588 3.6% Other M&A expenses 1 1,166 5,528 -78.9% 272 1,213 -77.6% Performance-related expenses for the acquisition of manufacturing volumes 1 0 6,171 -100.0% 0 1,418 -100.0% ERP implementation costs 1 5,060 2,669 89.6% 1,280 1,111 15.2% Special expenses in connection with the change of executive board members 1,529 0 n/a 119 0 n/a Full-time employees as of December 31 982 1,003 -2.1% Employees (average) 4 977 843 15.9% Dec 31, 2025 Dec 31, 2024 ∆ in % Total assets 903,041 934,357 -3.4% Equity 514,219 510,192 0.8% Equity ratio (in %) 56.9% 54.6% 2.3pp 1 Related to EBITDA | 2 Adjusted EPS is based on the period result, adjusted for special charges, acquisition-related PPA amortizations, and the resulting adjusted tax expense | 31 3 Calculated from cash flow from operating activities less CAPEX | 4 Employees excluding Executive Board members, directors and trainees Appendix Q4 2025 - Financials Pharmaceutical Supply 'PS' Patient-specific Therapies 'PST' International Business 'IB' Services IFRS consolidation Group YoY in € million Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Q4 25 Q4 24 Segment revenue - extern. delta (yoy in %) 449.3 15.6% 388.8 54.1 3.9% 52.1 45.0 8.5% 41.5 0.2 0.4% 0.2 n/a n/a 548.7 13.7% 482.5 EBITDA pre 1 delta (yoy in %) margin (% of revenue external) 13.8 6.1% 3.1% 13.0 3.3% 4.1 -37.8% 10.1% 6.5 10.9% 7.1 9.4% 17.2% 6.5 18.3% -2.2 -16.2% <-100.0% -2.7 <-100.0% n/a n/a n/a n/a 22.7 -2.2% 4,5 23.2 4,2 32 1 EBITDA is defined as consolidated earnings before interest, taxes, depreciation and amortization; EBITDA pre is adjusted for special charges for stock options, expenses for M&A activities, from expenses for ERP-System implementation, for 2024 for performance-based payments for the acquisition of compounding volumes as well as from 2025 one-time expenses due to change in the Executive Board Shareholder Structure Free float Martin Hesse Luxempart 65.2% Free float 1 6.4% Janus Henderson 6.1% Axxion 2.99% SEB Investment 3.9% Treasury shares 2 2.4% Paladin Asset Management 19.7% Martin Hesse 3 15.1% Luxempart 1 Free Float as defined by Deutsche Börse Group 2 Treasury shares from the share buy-back offer do not carry voting or dividend rights (treasury shares as of July 17, 2025: 1,000,000 shares) 3 Incl. attribution of BMSH GmbH All figures according to voting rights notifications by the notifying parties and as defined by Deutsche Börse Group 33 Appendix The Medios share Basic Information Share Capital No. of shares Share class ISIN / Ticker Segment Index €25,505,723 25,505,723 No-par value bearer shares DE000A1MMCC8 / ILM1 Regulated Market Frankfurt (Prime Standard) SDAX Analyst Coverage Covered by five international investment banks / brokers Appendix Total Target Remuneration Remuneration System For The Executive Board Compensation structure of the total target remuneration Non-performance related fixed remuneration 28 - 35% Performance related remuneration 65 - 72% 1. Annual Short-Term-Incentive ( STI ) (target: 100%) 28 - 35%, thereof Revenue growth (20%) EBITDA growth (30%) EBITDA margin (30%) Operational cash flow (20%) 2. ESG bonus (short-term) 2 - 3% 3. Long-Term-Incentive ( LTI ): Stock options 29 - 42% Sum 100% ESG STI LTI Fix 34 Contact Claudia Nickolaus Head of Investor & Public Relations, ESG Communications Phone +49 30 232 566 800 [email protected] 35 Disclaimer This presentation has been produced by Medios AG (the "Company"). The facts and information contained herein are as up to date as is reasonably possible and are subject to revision in the future. None of the Company or its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied as to, and no reliance should be placed on, the accuracy or completeness of the information contained in this presentation. None of the Company or any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for any loss howsoever arising, directly or indirectly, from any use of this presentation. The same applies to information contained in other material made available at the presentation. While all reasonable care has been taken to ensure the facts stated herein are accurate and that the opinions contained herein are fair and reasonable, this presentation is selective in nature and is intended to provide an introduction to, and overview of, the business of the Company. Where any information and statistics are quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by the Company as being accurate. This presentation contains certain forward-looking statements relating to the business, financial performance and results of the Company and /or the industry in which the Company operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words »believes«, »expects«, »predicts«, »intends«, »projects«, »plans«, »estimates«, »aims«, »foresees«, »anticipates«, »targets« and similar expressions in English or equivalent expressions in German. The forward-looking statements, including but not limited to assumptions, opinions and views of the Company or information from third party sources, contained in this presentation are based on current plans, estimates, assumptions and projections and involve uncertainties and risks. Various factors could cause actual future results, performance or events to differ materially from those described in these statements. The Company does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecasted developments. No obligation is assumed to update any forward-looking statements. This presentation does not constitute or form a part of, and should not be construed as, an offer or invitation to subscribe for, or purchase, any securities and neither this presentation nor anything contained herein shall form the basis of, or be relied on in connection with, any offer or commitment whatsoever. In particular, this presentation does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares in the Company may not be offered or sold in the United States or to or for the account or benefit of "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "Securities Act")) absent registration or an exemption from registration under the Securities Act. The shares in the Company have not been and will not be registered under the Securities Act. This presentation speaks as of March 2026. Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. 36 Full Year 2025 Results Thomas Meier, CEO Falk Neukirch, CFO March 26, 2026