VT5 Acquisition Company AG

Investor Presentation • Aug 6, 2025

R&S Group Investor presentation

August 2025

This presentation contains certain forward-looking statements. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results, performance or achievements of the Group to differ materially from those expressed or implied herein. Although R&S Group is convinced that the forward-looking statements are based on reasonable assumptions, R&S Group cannot guarantee that these expectations will be realized.

Should such risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this presentation.

R&S Group is providing the information in this presentation as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.

Table of contents ³

1 Introduction Eduardo Terzi

Key highlights H1 2025 2

Outlook for H2 2025 3

Company representatives

Eduardo Terzi Group CEO

Matthias P. Weibel Group CFO

Doris Rudischhauser Investor Relations Officer

Introduction Eduardo Terzi

Introduction Biography Eduardo Terzi

Eduardo Terzi Brazilian and Italian citizen

Education MBA from University of Maryland, USA,

Electrical Engineering Degree from Escola Federal de Engenharia de Itajuba, Brazil

Experience

CEO Transformers, Bushings, Instrument Transformers at Siemens Energy, Erlangen/Germany (2019 – 2022). From 2012 – 2018, CEO Distribution Transformers at Siemens Energy, Nurnberg/Germany. CEO and Board Member Siemens Transformers S.p.A., Trento/Italy (2010-2012). Previously, various roles at Siemens AG in Germany and Brazil.

Skills and interests

Family/kids, running/fitness, playing guitar, home theater, traveling

"Strategy only works when it meets strong and disciplined day-to-day execution. This is how we drive customer trust and profitable growth"

Also check the CEO portrait by Kaspar Wolfensberger from Finanz + Wirtschaft, published 25 July 2025: https://www.fuw.ch/ceo-eduardo-terzi-steuert-r-s-group-durch-die-naechste-wachstumsphase-338002059302

HTTVAV	UNTERNEHMEN						of	Mein Profil	EQ
Unternehmensverzeichnis		Schweiz	Ausland	Finanz	Konsum	Gesundheit	Technologie	Immobilier

Key highlights H1 2025

Excerpt from the Economist, 28 July 2025:

"The scarcity of chips and datacentre hardware, including transformers and switching equipment, has led to sharply increased prices and extended delays."

Key highlights H1 2025 at a glance

Strong topline developments; Germany at 13% of sales

High order backlog supporting yearend outlook; recovery of German and Polish construction sectors

Official inauguration and Ramp-up Bochnia, and already ISO 9001 certified

Full exit of CGS, free-float of 90.5% and

higher share liquidity

New Board members; new CEO announced and onboarded

Comparative figures H1 2024 (without Kyte Powertech)

141.0 109.9 218.2

1) Including Kyte Powertech for the full first half of 2025

Key highlights All product groups with continuing positive order intake

• ◼ Continuous high monthly order intake from key markets (CH, GER, IT)
• ◼ Delays in the ramp-up of the new plant near Bochnia
• ◼ Book-to-bill at 1.2 in H1 2025
• ◼ High backlog for Power Transformers until Q2/2027, adequate backlog for Oil Distributionand Cast Resin Transformers.
• ◼ With the acquisition of Kyte, the risk profile of R&S Group has improved as not only the sales mix by country but also by product group is better diversified than before.
• ◼ Positive sales mix (see pie chart on the right side) with 80% net sales in Western Europe (vs. 64% in H1 2024).
• ◼ R&S has no sales exposure to the US.
• ◼ With additional capacities, further expansion of market shares in already strong home markets such as UK is feasible.
• ◼ R&S Group's capacity expansions proceeded in H1 2025, resulting in higher investments in working capital and capital expenditures.
• ◼ Sales generated in the German market 13% of total net sales (vs. 6% in H1 2024 prior year).

Key highlights Sales mix by country (II)

Sales mix H1 2024 by country (%) before acquisition of Kyte

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Key highlights Share price performance and shareholder structure

As of 4 August 2025

Free float of 90.5%

Number of shareholders: 1,935

Significant shareholders⁴

• Artemis Beteiligungen AG
• UBS Fund Management (Switzerland) AG
• The Capital Group Companies
• Janus Henderson
• Lock-up 8 members (Kyte management)
• Swisscanto Fondsleitung AG
• J.P. Morgan Chase
• Columbia Threadneedle Investment
• BlackRock
• Others

Comments

• RSG has been listed on SIX Swiss exchange since 13 Dec 2023 (symbol: RSGN).
• Share price development +274%¹ since listing.
• Market capitalization CHF 1,394 million as of 4 August 2025, +381% since listing² .
• Number of shares outstanding: 37.2 million.
• 1) Calculated based on closing prices.
• 2) Based on number of shares outstanding at listing and as of 5 August 2025, incl. conversion of redeemable warrants.
• 3) Free float according to definition of SIX Index Division excludes Artemis
• 4) Significant shareholders >3% with percentage as filed with SER Disclosure Office. Note: Artemis in July sold shares in an ABB, but did not undergo a threashold Other institutional Investors

17

• Independent non-executive member of the Board of Directors
• Vice Chair of the Board of Directors
• Member of the Technology Committee

• Independent non-executive member of the Board of Directors
• Chair of the of the Nomination & Compensation Committee
• Member of the Risk & Audit Committee

Outlook for H2 2025

Focus topics H2 2025

• Continued positive momentum based on current back-log
• Operational excellence in all the plants (process and cost optimizations), esp. @Kyte
• Speed up ramp up Bochnia (throughput and output)
• Build up of greenfield plant for ZREW
• Reinforce cross-selling across the Group following training of sales force
• Focus on working capital and cash conversion

Appendix

Financial Calendar 2025/2026

Release of semi-annual report 2025 11 September 2025 Annual General Meeting 7 May 2026

Contact

Investor and Media Relations Doris Rudischhauser Phone: +41 79 410 81 88 Email: investors@the-rsgroup.com