Thyssenkrupp nucera : General Investor Presentation - May 2026

About this update from Thyssenkrupp Nucera Ag & Co. Kgaa

General Investor Presentation May 2026 May 2026 | General Investor Presentation Mission We continually learn, adapt, and deliver cutting-edge technologies to drive sustainable industrial transformation for a thriving future Purpose We shape the new era Vision Empowering a clean industry for future generations Table of Contents 1 Company Overview 2 Business Segments: Green Hydrogen and Chlor-Alkali 3 Financials 4 ESG Program, Ratings and Targets 5 Capital Market 3 May 2026 | General Investor Presentation 4 May 2026 | General Investor Presentation ‌Company Overview thyssenkrupp nucera at a glance Leading electrolysis technology provider globally 2 strong business segments: Green Hydrogen (gH 2 ) Reliable, innovative & future-oriented solutions at industrial scale gH 2 projects with a total capacity of ~3.5 GW under execution Chlor Alkali (CA) Asset-light business model with strong balance sheet to finance future growth gH2 54% Total: 845mn € Sales in FY 2024/25 CA 46% 1,000+ employees worldwide in 10 locations Supporting customers on their way to climate neutrality 5 May 2026 | General Investor Presentation Our Green Hydrogen (gH 2 ) business Financials mn € FY 2022/23 FY 2023/24 FY 2024/25 Order intake 206 356 26 Order backlog ~900 706 259 Sales 328 524 459 Alkaline Water Electrolysis (AWE) technology to produce green hydrogen at industrial scale based on proven track record in Chlor-Alkali electrolysis Product portfolio & roadmap 20 MW modules, designed as a cost-efficient standardized modular solution, scalable up to GW plant size EBIT -76 -56 Strong profitable growth in the mid-term Main applications Market scalum ® Quality and Longevity High performance Design certified Global service network Total global gH 2 installed capacity ~2 GW Equals multi-billion € market for electrolyzers ~30-50 GW Automation of cell fabrication and assembly Commercialization of high-temperature electrolysis (SOEC) Selected customers ~3.5 GW green hydrogen capacity under execution Business model 2024 2030 thyssenkrupp nucera has the ability to perform civil construction through its partners at the request of the client Only for proprietary equipment. 6 May 2026 | General Investor Presentation Our Chlor-Alkali (CA) business Innovative Chlor-Alkali Electrolysis (CA) and Hydrochloric Acid electrolysis solutions (HCI) for industrial progress Market leader with ~50% market share Product portfolio Financials 322 279 408 Order intake FY 2024/25 FY 2023/24 FY 2022/23 mn € Sales 333 338 386 Order backlog ~500 421 347 Profitable CA electrolysis HCI electrolysis EBIT 62 58 business with modest growth BM 1 BiTAC 2 NaCI ODC 3 HCI Diaphragm HCI ODC 4 Service portfolio Asset management Market Expected production in 2025 (mn tons) Process chain and select end products H 2 Brine Chlorine Polyurethane foam Polycarbonates / PVC Spare parts supply & management Revamps Service center & fields services 83 76 Market for electrolyzers & service >1bn€ Caustic Chlorine Global demand growing in line with GDP Selected customers Energy Electrolysis Caustic soda Soap / Detergents Aluminium Sodium Hypochlorite / Disinfection Over 600 projects, 240,000 cell elements, >10 GW of capacity installed globally 1. Bipolar membrane electrolyzer; 2. BiTAC: Bipolar Tosoh and Chlorine Engineers; 3. ODC: Oxygen Depolarized Cathode; 4. Recycling HCl at low energy consumption 7 May 2026 | General Investor Presentation Our global presence & selected projects OxyChem Houston Houston Stegra Shell Moeve Chlorum Solutions Group Dortmund (HQ) Arnstadt M M il i a la n no Riyadh Riad NEOM Shanghai i Mumbai TGV SRAAC Okayama Tokyo Chlor-Alkali Electrolysis (CA) Alkaline Water Electrolysis (AWE) Locations Unipar CMDC P P e e rt r h th Note: Selected projects 8 May 2026 | General Investor Presentation Our attractive financial profile Sustained sales growth Robust sales development at a high level following years of rapid expansion 862 845 661 383 2021/22 2022/23 2023/24 2024/25 Total sales (mn €) Resilient profitability Historically consistently profitable operations on the back of Chlor-Alkali business; temporary EBIT loss due to gH 2 ramp-up 25 9 2 2021/22 2022/23 -14 2023/24 2024/25 EBIT (mn €) Strong balance sheet Strong cash position further increased by IPO proceeds in 2023 - sufficient to withstand current headwinds and finance future growth 761 673 656 275 2021/22 2022/23 2023/24 2024/25 Net financial assets (mn €) 9 May 2026 | General Investor Presentation Our value proposition Long-standing expertise in industrial scale electrolysis Global organization with reputable and long-standing partners Strong balance sheet to finance future growth and resilience Full-fledged service offering along the entire plant lifecycle Strong R&D focus to drive innovations Best-in-class safety standards Proven GW-scale supply chain already in operation May 2026 | General Investor Presentation 10 May 2026 | General Investor Presentation 2026 priorities: taking action in an uncertain market environment Commercial acceleration Further strengthen customer relationships and partnerships in key regions Accelerate the CA service expansion and unlocking gH 2 service growth potential Technology leadership Capture economies of standardization, modularization and scale & leverage efficiency and best-cost approaches Rapidly complement gH 2 product portfolio with pressurized systems & continue AWE & CA product upgrades Cost discipline Challenge costs across the entire organization globally Flexibilize and reduce cost structure Leverage global gH 2 organization Safeguard financial stability Continue prudent cash management and protect cash position Take advantage of the opportunities offered in the gH 2 sector without taking excessive risks Strengthening business by flexibilization and cost discipline Enhancing leading competitive position and offering best-in-class LCOH 11 May 2026 | General Investor Presentation 12 May 2026 | General Investor Presentation ‌Business Segments Our proven experience in CA business provides a strong technology basis for AWE scale-up CA: Over 600 projects, 240,000 cell elements, >10 GW of capacity installed AWE: Building on CA leadership Market Readiness Industrial-scale installations Quality proven supply chain of 1 GW cell manufacturing capacity p.a. Industrial-scale hydrogen plants A technology leader for electrolysis Handling of hydrogen as a by-product Standardized AWE product with leading TCO 1 Hydrogen as the main product Product Holistic life cycle services Global network with partners Mature service portfolio Automation and digitalization Organization & Network 1. Total cost of ownership Key enabler of hydrogen production 13 May 2026 | General Investor Presentation >30 years of leading innovation in modern industrial electrolysis Power Consumption 1984 1 - 1994 1997 2003 2012 2013 2018 2020 2021 2022 2024 2025 Current Density (specific production capacity) BiTAC First zero-gap cell making 6kA/m2 BM First Single Element Bipolar Membrane BM single element HCl-ODC 2 First industrial reference plant energy saving hydrochloric acid recycling BM single element NaCl-ODC 2 Market Entry 25% energy saving CA electrolysis Carbon2Chem e-BiTac v7 and BM Gen. 6plus Latest high efficiency electrolyzers 1 GW p.a. fabrication Completion of the first scalum ® 20 MW module SOEC Acquisition of key technology assets in the field of pressurized alkaline electrolysis from GHS electrolyzers Gen.3 First laser-welded cell, internals made possible acidified operation Gen.6 First Full Zero-Gap cell incl. flexible elastic element and combined with independent sealing AWE (Hydrogen) Demo Plant 2 MW (stack portion of 10 MW unit) De-bottlenecked production of 15,000 cells p.a. Partnership to strengthen thyssenkrupp nucera's hydrogen portfolio in the field of high-temperature electrolysis technology New BM2.7 v7 and improved e-BiTAC v7 electrolyzers, setting innovative standards in terms of efficiency and reliability 1. Much longer experience before with mercury amalgam cells 2. Joint Development with Covestro and De Nora; ODC = Oxygen depolarized cathode; HCl = Hydrochloric Acid; NaCl = Sodium Chloride Developments with De Nora advanced coatings and half-shells / bipolar elements manufacturing AWE CA SOEC 14 May 2026 | General Investor Presentation Developing an industry leading electrolyzer cell design with De Nora Contributions thyssenkrupp nucera Design of cell, electrolyzer and balance of plants Selection of separator (membrane/diaphragm) Other parts including: Selection of corrosion resistant materials Current distribution & electrical contacts Gas-liquid fluids handling & distribution Sealing Adaptations for different operating conditions, procedures, concepts (e.g. with or without ODC) thyssenkrupp nucera cell - + BM (single element) Contributions De Nora Anode and cathode catalytic coatings, and GDEs Manufacturing of half-shells Holistic collaboration in cell design, electrochemical components and manufacturing process 15 May 2026 | General Investor Presentation Leading design and manufacturing know-how crucial in developing the AWE cell Hydraulic design Improved hydraulic and fluid dynamics Optimized feed of reactants to the catalytic centres for effective kinetic of electrochemical reactions Design mitigates local concentration gradient for best efficiency and longevity Mechanical design 100% leak proof cell throughout service life ensuring to avoid emissions any time Strong flange and bolts forces compressing the gaskets for superior sealing Design improves safety and environmental protection Electrical design Electrical current uniform distribution to the electrodes Uniform distribution by continuous laser welding Design minimizes ohmic losses Zero gap Combination of expanded-metal current distributor with a woven mesh cathode enables a " zero gap " over the whole membrane area Elastic element with compression independent from sealing "Zero gap" improves separator life and performance Know-how and technologies needed for implementing effectively high current density and high efficiency 1 1. Density and efficiency assessment based on Eurochlor data 16 May 2026 | General Investor Presentation We make a difference across every step of the industrial electrolysis value chain Engineering Cell fabrication Modularization Piping Handling Services Application thyssenkrupp nucera value add More than 600 electrochemical projects realized in the world Design most efficient plants and modules with best-in-class safety standards Cell and electrolyzer design, manufacturing and assembly " IP of Design " 1 of cells and electrolyzers and integrated manufacturing with long-time supplier and partner Plant construction and logistics In addition to small skid mounted AWE plants, also larger plants in synergy with partner Uhde High quality products in a highly corrosive environment Proprietary technology incl. own trademarks Handling and use of chlor-alkali products >30 years of experience in handling with H 2 Full lifecycle service and digital solutions Existing service organization with longstanding suppliers and partners thyssenkrupp nucera provides leading in-house experience along each step of the electrolysis value chain 1. The cell and electrolyzer shape and structure are designed for best utilization of key electrochemical components (anode and cathode coatings, separator), in terms of efficiency, products quality, durability/longevity, safety. By developing optimization of: Gas-liquid fluids handling, distribution, control of pressure fluctuations; uniform electrical current distribution and low ohmic drops; selection of corrosion-resistant materials; serviceability 17 May 2026 | General Investor Presentation Segment 18 May 2026 | General Investor Presentation Green Hydrogen (gH 2 ) Market Offering Projects Electrolysis connects the renewable energy sector with a wide range of industries and enables industry decarbonization electrolysis Renewable energy Green hydrogen via Hydrogen markets - + Green hydrogen economy drivers Climate & environmental protection Growing renewable energy sector at low cost Appropriate legal frameworks 19 May 2026 | General Investor Presentation Market Offering Projects We focus on green hydrogen, an enabler of the net zero economy Grey hydrogen How technology addresses Net Zero goals 2 2050 supply mix 2 Coal Natural Gas Biomethane Reforming (Gasification) CO 2 emitted Emits around 10kg of CO 2 per kg of hydrogen produced 0% Natural Gas Biomethane Biomass Reforming (Gasification) CO 2 stored / reused Natural gas reformed to H 2 and CO / CO 2 in Autothermal Methane-Reformer (AMR) Remaining CO 2 is captured and stored (CCS) 1 20 - 40% Renewable energy Water Electrolysis No CO 2 emitted Essentially zero emissions Creation of H 2 from renewable energy 60 - 80% Blue hydrogen + - Green hydrogen 1. Carbon capture and storage (CCS) 2. Source: Hydrogen Council in collaboration with McKinsey & Company, Hydrogen for Net Zero Report, November 2021 20 May 2026 | General Investor Presentation

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