Kardex Holding AG

Investor Presentation • Nov 4, 2025

Agenda

1	Welcome	Alexandre Müller
2	Kardex Healthcare Business	Thomas Larsen
3	University Children's Hospital	Sandro Faerber
4	Tour of Children's Hospital	Philipp Nobel / Thomas Larsen / Roger Remy
5	Kardex Business Update	Jens Hardenacke / Thomas Reist
6	Q&A

Introduction

• Focusing on new industry specific areas Hospitals is one of them
• Thomas Larsen brings over 25 years of healthcare experience, leading hospital logistics development
• Key challenges in hospitals Kardex solutions
• Focus on Kinderspital Zurich and Nordic hospital cases demonstrates diverse logistics solutions
• Improving efficiency and patient care
• Modern logistics enhance hospital operational efficiency and significantly improve patient experience

Introduction – Admissions*

*total Europe

Source: Healthcare resource statistics - beds - Statistics Explained - Eurostat

Introduction – Key Personal shortage

Source: Healthcare shortages are 'threat' to EU's social resilience | EPP Group in theCoR

Daily Medical Equipment and Consumables

Medical Equipment and Consumables per Inpatient

Category	Examples	Kardex Storage Suitable
Wound Care & Dressings	Gauze, plasters, hydrogel, tape	Yes
Injection & Infusion	Syringes, needles, IV sets, saline bags	Yes
Personal Protective Equipment	Gloves, masks, gowns, face shields	Yes
Surgical Supplies	Sterile instruments, sutures, scalpels	Yes
Diagnostic Supplies	Blood tubes, urine containers, test strips	Yes
Medical Electronics	Batteries, electrodes, monitor cables	Yes
Catheters & Tubes	Urinary catheters, feeding tubes	Yes
Cleaning & Disinfection	Surface disinfectants, wipes, hand sanitizer	Yes
Textiles & Linens	Sheets, gowns, disposable linens	Yes
Pharmaceuticals	Medications, ointments, inhalers	Yes
Hospital Bed	Patient resting and treatment	Yes
IV Pole	Holding infusion bags and equipment	Yes
Wheelchair	Patient mobility	Yes
Mobile Monitor Stand	Transporting vital sign monitors	Yes

The traditional way of designing a hospital

• Supplies to different floors and wards
• A hospital contains of many small stocks spread over the entire hospital to always have the material nearby
• Each ward orders to their own stock which creates multiple stocks of same products within a hospital
• This creates unnecessarily high stock levels. When it's empty in my stock, where do I find the material?
• The inbound goods must be delivered to all ward stocks. After unpacking, the waste is brought back again
• Goods transport operated in elevators that should have been used for patients

What does this mean...?

• At a large Danish hospital, management confirms that in average a porter spends 1 hour per day waiting in front of elevators
• With 420 porters working 200 days per year would mean a 10% spend handling beds which equals with 8'400 hours used only for waiting or 4 FTE's!
• Visitors must wait up to 20 min for an elevator
• At Karlstad Hospital (SE), nurses spend up to 4 hours per shift to pick and distribute items
• Introducing automated storage solutions saves up to 90% space. With a building cost of +5'000 EUR/m2, this obviously results in a very short ROI

At the same time, Kardex solutions free-up capacity in elevators and give more time for porters, nurses etc. to patient related work

Why not bring well-known benefits from the industry into Healthcare

Supplies storage

• All supplies are handled in a central storage which is accessible from all relevant floors
• Within the central storage, wards can have access to all material
• No need for wards to have their individual safety stock which results in a lower total stock
• FIFO and full traceability
• All goods are unpacked in the logistics department and stored directly in the central storage
• No transportation of goods or waste through elevators

Bed storage

• Handling beds and larger equipment
• Often placed in corridors or in the basement, far away from where they are needed

Bed storage solution: VLM Shuttle with floor even loading

• Specially developed bed trays, adapted to handle different sizes of beds
• Able to load and unload through front and rear side access openings
• After beds have been prepared and cleaned in the washing area, the beds are stored in the units and are immediately available on all floors
• A bed is delivered to the ward in one minute instead of waiting 15 min for a porter being available to bring it via the public elevators

Bed storage

Challenges in hospital logistics – managing beds

• Block space in corridors
• Time-consuming transportation
• Not available when needed

kardex

Efficient bed storage

• Clean corridors due to centralized storage
• Automated transportation between floors
• Beds available when & where needed

Hospital application

• Preferred unit type: VLM Shuttle
• Main features:
• o Shuttle up to 60 meters (more to come)
• o Access opening on floor level
• o Multiple access openings (up to 12 are possible)
• o Modular special equipped trays
• o Partly charging functionality on trays
• o Speed roller door
• o Hospital design
• o Easy load/un-loading
• o Optional: Clean room or hygienic environment

Reducing healthcare-associated infections (HAIs) with Kardex solutions

• HAIs affect 5-7% of hospitalized patients in high-income countries
• In Denmark alone, this equals to around 60'000 patients per year
• Dedicated storage: Isolation of used beds from patient care areas
• Space optimization: Compact vertical storage eliminates clutter in corridors
• Reduced manual handling: Minimizes staff exposure to contaminated beds
• Automated washing integration: Ensures contaminated beds follow a closed-loop process before being reused
• Traceability: Links to hospital IT for many numbers, expiry dates, and usage history
• → Outcome: Kardex solutions help reduce HAIs by combining automation, hygienic workflows, and traceability. resulting in safer patients' environment, optimized space, and improved infection control.

Kinderspital Zurich, Switzerland

Customer pain | Challenges | Starting position

• In the central warehouse, an automated storage system based on the "goods to person" principle was tendered. The system is designed as a horizontal carousel due to the low ceiling heights and the different sized containers.
• In order to retrieve material without personnel during the night shift, they would like to have a fully automated system.
• For the storage of surgical instruments, VLMs should be designed to combine sterilization and the pre-operative zone. Two independent devices should be available to ensure redundancy.

Kinderspital Zurich, Switzerland

SoluƟon │ Products

• Sterile goods storage:
• 1x Shuttle 250-1250x610x8750 & Led-Navigator
• 1x Shuttle 250-1650x610x8750 & Led-Navigator
• Power Pick Systems (standalone / no interface)
• Both VLMs have two access openings

UZ Leuven | Belgium

Industry Segment: Healthcare / Pharmaceuticals / Hospitals

Website: https://www.uzleuven.be/en

Introduction

UZ Leuven is the largest University Hospital in Belgium. The hospital is constantly expanding. In this phase they are expanding their facilities and in 1 of the buildings they want to centralize their logistic processes.

WHY: Customer Pain / Growth

The current daily process of supplying hospital departments with materials like medicine, bandages, etc. is inefficient and operated from multiple locations. In the new facility UZ Leuven is aiming for an efficient, ergonomically friendly and centralized process.

WHAT: Solution / Products

4 Extended Kardex Compact Buffer: (26 segments, 8 m height) with a turntable and conveyor access opening on 1st floor combined with Conveyor system. 4 Shuttle XP500 -2450: (2x 18.650mm with 2 access openings and 2 x 18.650 mm with 3 access openings) + Fire doors & Gas extinguishing system PPG to manage as well the VBM as the VLM processes (including 90 days special programming). Conveying managed by partner company Maas.

HOW: Application / Customer Process

Compact buffer extended: Order fulfillment with batch picking. Inbound preparation and inbound process over the conveyor system. Storage on the Shuttles for the clinical studies and other products stored for several levels.

UZ Leuven | Belgium

Industry Segment: Healthcare / Pharmaceuticals / Hospitals

Website: https://www.uzleuven.be/en

• 26 segments on 8 m height
• Bins 600 x 400 x 120 h with insert bins 1/8, 1/4, 1/2 , 1/1 of 170 mm H
• 5594 locations.

• 4 Shuttle 500 xp 2450 x 864 / 18 m
• Average of 100 trays per unit.

Torshavn Hospital, Faroe Islands

• Modern architecture requires modern logistics solutions
• 2 bed units and 1 supply unit
• Height: 20.5m

Karlstad Hospital, Sweden

• One Shuttle for supplies to different floors
• Height: 25m
• 5 access openings
• Goods receive, unpacking/storing from the basement
• Picking from different floors
• Power Pick Global Software

Kolding Hospital, Denmark

• Two Shuttles for supplies to different floors
• Height: 36m
• 6 access openings each
• Goods receive, unpacking/storing from the basement
• Picking from different floors

Children's Hospital, Finland

• 2 Shuttles for supplies to different floors
• 2 Shuttles for beds and other large equipment
• 5 6 access openings each
• Unit heights up to 38.5 m
• Power Pick Global Software

References

Links

• Case Study: Karlstad
• Hospital Logistics Made Easy: Save Time, Space & Costs with Kardex
• Case study: Optimized warehouse and logistics in the New Children's Hospital with Kardex Shuttle
• Hospital Logistics | Climate and Cleanroom Storage | Kardex
• Warehouse Insights Hospital Logistics

About myself

Thomas Larsen, MBA Director Business Development Hospital Logistics

• thomas.larsen@kardex.com
• +45 23 74 17 18

• www.linkedin.com/in/thomaslarsen/

• 52 years old, living in Denmark

• 25+ years experience in the Healthcare sector and Public Tender environment
• Swisslog Healthcare (10y)
• Siemens Healthcare (10y)
• Engineering/planning hospitals (6y)
• Since January 2024 working for Kardex as global responsible for hospital solutions

Thank you for your attention!

Thomas Larsen

Director Business Development Hospital Logistics

Kardex Remstar as the general contractor

Surgical equipment

Instacount

• QR-Code «GTIN*»
• Sieve designation
• Sieve number
• Expiration date

Kardex

• Goods identification over GTIN
• Goods issue via scan according to reference schematic
• Considering FEFO**
• Goods issue in case of emergency withdrawal

*GTIN = Global Trade Item Number

** FEFO = First Expire, First Out

Central warehouse (end-to-end integration)

NEXUS

• Master data
• Purchase orders to suppliers
• Customer deliveries within the hospital

Kardex

• Inbound and outbound goods
• Stock keeping and inventory ownership
• Emergency withdrawals

About the Kardex AutoStore Team

roger.remy@kardex.com

Agenda

Kardex AutoStore - an overview

Innovations

Healthcare References

Won projects since February 2021 (start of KXAS business)

Kardex combined solutions

AutoStore & VLM AutoStore & VBM

Kardex Port Al

Name: Kardex Port scale and counting

Abbreviation: Kardex Pick Al

Function:

• Scale/Count: The integrated scale of the Kardex Port enables items to be weighed and counted. The measurement accuracy is +/-5gr.

Customer benefits in real time:

• Weight and quantity recording during order picking
• Precise item counting
• Inventory accuracy
• Detection of incorrect removals

Automated bin induction

Key benefits:

• Cost reduction
• Automation of simple tasks
• Safety for employees
• Modern and ergonomic workstation

Kardex SnapVac

Name: Kardex SnapVac

Abbreviation: KSV

Naming:

• Snap The unit snaps into place at the top of the AutoStore R5 robot
• Easy installation/removal
• Not permanently attached to a robot
• AutoStore System and Kardex SnapVac can be run simultaneously
• Vac The device is designed to vacuum dust, dirt, etc. from the top of the AutoStore grid

Sensor cleaning station

• Fully integrated cleaning system from Kardex
• Removes dust and contamination
• Each robot drives to the cleaning station once a day
• The blow-off nozzles are activated automatically
• After a few seconds, the cleaning process is finished
• The robots can work without interruption for longer, which increases the overall availability of the system

VetLogOne GmbH in Wunstorf, Germany

Scope of supply:

• AutoStore Grid for 68,800 bins
• 32.000 bins (330mm)
• 30 Red Line (R5) robots
• 4 Carousel Ports (2 Frames)
• 2 Conveyor Ports
• 1 Picking Robot

VetLogOne GmbH has opened Germany's first logistics center specifically for veterinary medicine in Wunstorf in spring 2021.

The wholly owned subsidiary of Economic Association of German Veterinarians eG operates pharmaceutical logistics with state-of-theart conveyor and picking technology on several levels on nearly 20'000sgm of warehouse space. The state-of-the-art location with an expansion possibility to almost 40'000sqm meets all GDP standards and offers a high degree of flexibility within the framework of contract logistics and fulfillment.

Why VetLogOne chose Kardex

• Innovative product developments
• Professional and competent contact persons
• Convincing and customer-specific solution finding
• Fast response times

Advantages of the Kardex AutoStore solution for VetLogOne

• Reduction of needed space
• High throughput to meet varying customer demand
• Minimal downtime of equipment
• Flexible expansion
• Scalability for future growth
• Adaptability to changing market requirements

Bredent Group GmbH in Senden, Germany

Scope of supply:

• AutoStore System
• 40.000 bins
• 23 robots
• 6 Conveyor Ports
• 2 Fusion Ports staging
• 1 Fusion Port Frame
• WMS-Software

Since 1974 Bredent has a clear position in the dental market: Bredent products help dental technicians to efficiently create high-quality, aesthetic, and periodontally hygienic dental prostheses. Bredent has always been committed to optimizing products and work processes - always with the well-being of the patient in mind.

Today, almost 50 years later, the Bredent Group consists of three companies: Bredent, Dental Concept Systems (DCS), and Bredent Medical. The benefit for customers lies in the coordinated and well-thought-out, synergistic solutions from dental technology (Bredent) to high-tech mechanical engineering (DCS) to leading-edge medical technology - including modern prophylaxis and state-of-the-art implant and prosthetics (Bredent Medical).

• Advantages of the Kardex AutoStore solution for Bredent GmbH:
• Reduction in the amount of space required
• High throughput to meet varying customer requirements
• Adaptability to changing market requirements

Universitätsspital Basel

Scope of supply:

• AutoStore Grid mit 15'000 bins
• 9 Red Line (R5) robots; 9 chargers
• 1 Carousel Ports Frame
• Go-Live: September 2025

The USB's central warehouse supplies more than 10 different hospitals in Basel. Until now, logistics have been handled within the city of Basel. At the new location in Birrsfelden, AutoStore will manage small parts stored in plastic containers fully automatically. The new logistics center will simplify delivery routes and processes within the USB.

Roche Diagnostics Mannheim

Scope of supply:

• AutoStore Grid mit 29'000 bins
• 18 Red Line (R5) robots;
• 3 Carousel Ports
• 1Conveyor Port
• Conveyor System
• SAP EWM Integration
• Go-Live: März 2025

Thank you

Agenda

• 1 Updates since last Investor Day
• 2 Executing the Transformation
• 3 Our Growth Journey

Intralogistics Market in 2023

Another megatrend is shaping the future of intralogistics

Megatrends¹

Effects

• Shortage of skilled labor force
• Aging workforce
• Increased health concerns

• Rising labor costs
• Space scarcity
• Supply chain regionalization
• Capital reallocation and investment surge

• Impact on Intralogistics

• Ergonomic and safety focused

• Smart warehouse design
• Energy efficient logistics
• Smaller and localized warehouses
• Growth expectations >GDP

Source: 1) Zukunftsinstitut (2025). Megatrend Urbanization. Retrieved from zukunftsinstitut.de; Zukunftsinstitut (2023). Megatrend Demographic Change. Retrieved from zukunftsinstitut.de; PwC (2024). Megatrends: Five Global Shifts Reshaping the World We Live In. Retrieved from pwc.com

Kardex' STRATEGIC POSITIONING in the Intralogistics Market

Winning together as ONE Kardex

The power of collaboration

kardex

Achieving >100 m€

Executing Kardex' transformation for scalable, profitable growth

One global Kardex: Maintaining three distinct business units while aligning our go-to-market strategy to create a more customer-centric organization

Portfolio momentum: Launch of Rocket for light goods expands addressable market and strengthens competitive edge

Growth investments: Increased allocation to Sales, R&D, and IT to drive profitable growth

Digitalization in motion: ERP rollout, process digitalization, and innovation initiatives are actively progressing

Financial Targets as of 01 January 2025

KPI	Scope	Target
Net revenues growth	Group	EUR 1.5 bn by 2029-2031
EBIT margin*	Automated Products	14 - 17%
	Standardized Systems	5 - 8%
	Group	10 - 14%
ROIC	Group	> 25%
Dividend policy (payout ratio)	Group operational Net profit	up to 75%
Net debt/EBITDA	Group	< 2.5x

= 10-14% CAGR

^* over the cycle of 5 years

Kardex – Key Figures H1 2021 - 2025 (in EUR million)

Outlook

• Megatrends like "reshoring", "shortage of skilled labor force" and "automation" are expected to drive the positive market sentiment
• Kardex will continue to substantially invest in sales & marketing, R&D and IT to further outperform the market and to create the basis for continuous profitable growth
• Despite geopolitical tensions and trade uncertainties, a stronger H2 2025 is anticipated in bookings, net revenues and EBIT
• Kardex is confident to achieve results in line with the communicated financial targets

Questions?

Disclaimer

This communication contains statements that constitute "forward-looking statements". In this communication, such forward-looking statements may include statements on the financial situation, earnings situation and business results of Kardex as well as certain strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Kardex' ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Kardex' past and future filings and reports and in past and future filings, press releases, reports and other information posted on Kardex' websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Kardex disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Thank you for your interest and your visit

Jens Hardenacke, CEO Thomas Reist, CFO Alexandre Müller, IR Philipp Nobel, System Sales Thomas Larsen, BD Hospital Logistics Roger Remy, AS Sales