SGL CARBON SE

Investor Presentation • Nov 6, 2025

9M 2025 Results

Investor & Analyst Conference Call

Andreas Klein (CEO) Thomas Dippold (CFO)

Agenda

• 1. Details on 9M 2025
• 2. Recap 9M and Outlook

Details on 9M 2025 1

"Demand in semiconductor market remains low but countermeasures to ensure profitability are taking effect"

Weak momentum from key sales markets weighs on 9M 2025, EBITDApre margin remains at previous year's level

EBITDApre (in mEUR)

EBITDApre margin

• Decline in volumes, particularly in higher-margin semiconductor business, negatively impacting profitability
• EBITDApre margin in 9M 2025 at 16.6% due to countermeasures (9M 2024: 16.3%)

Graphite Solutions (GS) – weak demand from SiC-semiconductor customers continues and impacts sales and profitability

Key developments

Sales

• 76.9 mEUR sales decline in semiconductor & LED (-39.3% yoy)
• Demand for specialty graphite products from SiC customers remained low in Q3 indicating persistently high inventory levels in the value chain

• Most other market segments stagnating due to difficult macroeconomic environment

• Significantly lower contribution from high margin products

• Lower utilization and fix cost absorption
• EBITDApre margin decreased from 25.3% to 17.9%

Semiconductor sales remain at low level

Sales split Semi/LED market segment (in mEUR)

Current developments

• BEV* sales back with growth of 36% in 9M 2025
• Further destocking at our customers ongoing inventories still on a high level
• Delay of new EV model launches with high SiC content

SiC importance in EV market increasing

• Technology of choice to achieve fast charging and longrange driving
• Most of new EV models build on SiC
• Penetration rate also rising in the lower price EVsegments
• Semiconductor sales set to recover

Process Technology (PT) – outperformer with strong 9M 2025

EBITDApre (in mEUR)

Key developments

Sales

• Good development from 2024 continues in 9M 2025
• PT benefits from global network and completion of large-scale projects
• Order backlog still declining, but order entry with slight improvement in Q3

• Increasing price pressure

• Positive product mix effects combined with attractive large-scale projects

• Margin increase in 9M 2025 to 27.3% (9M 2024: 24.1%)

Carbon Fibers (CF) – restructuring pays off and results in positive adjusted EBITDA

Sales

• Termination of loss-making business activities leads to sales reductions
• Closure of Lavradio site, shutdown of production in Moses Lake
• Focus on profitable businesses

EBITDApre (in mEUR)

• Positive effect of 25.0 mEUR from cost reductions in operating costs, personnel, and energy
• BSCCB JV impact on CF EBITDApre of 5.5 mEUR in 9M 2025 (9M 2024: 11.7 mEUR)

Composite Solutions (CS) – high uncertainty and lower order volumes from automotive industry

EBITDApre (in mEUR)

Key developments

Sales

• Increasing uncertainty and associated lower and more short-term order intake from automotive customers
• 9M 2024 still includes sales from large automotive contract that expired in Q2 2024

• Follow-up orders from existing customers secured in Q3 – materialization as of H2 2026

• Lower EBITDApre due to lower volumes

Net result impacted by restructuring measures

Key figures (in mEUR)

Key developments

• Decrease in net result in 9M 2025, mainly due to non-recurring items of -81.7 mEUR for restructuring
• Positive FCF of 12.5 mEUR
• Net financial debt slightly higher; Leverage ratio stable at 0.8
• Equity ratio at 39.7% (Dec. 31, 2024: 41.5%)
• ROCE at 9.7% (Dec. 31, 2024: 11.4%)

2 Recap 9M and Outlook

"Countermeasures to maintain profitability partially offset lower margin contribution from SiC market"

Recap 9M 2025: SGL with various measures to counter declining demand from key markets; Strategy process kicked off

Restructuring Carbon Fibers

• Exit from unprofitable business activities (acrylic fibers; precursor)
• Cost savings of 25 mEUR. Return to positive EBITDApre
• Focus on profitable business (textile materials, pre-impregnated materials, short carbon fibers)

Rebalance global cost structure and processes

• Optimize headcount setup and implementation of extensive group-wide cost reduction measures
• Simplify processes and corporate setup to fit smaller company
• Group-wide one-time effects totaling minus 84.7 mEUR but equity ratio remains high at 39.7%

Corporate strategy process

• SGL Carbon 2030: What will remain, what will be expanded, and what are our new growth areas?

Strategy process is running

• Communication of new corporate strategy in context of 2025 results in March 2026

Current development projects

New technologies for energy generation Research and development

• Various graphite grades for high temperature reactors
• Materials for energy storage systems

of new coatings

• Developing novel coated materials (esp. TaC) and products

Security and defense industry

• Carbon composite components made with prepreg technology
• Thermal insulations for highperformance needs

Guidance confirmed

2024 2025e

Q&A

We are looking forward to your questions

^® Registered trademarks of SGL Carbon SE

Financial calendar and IR contact details

Financial calendar Contact

March 19, 2026

• Publication of the Annual Report 2025
• Conference call for investors and analysts

May 7, 2026

• Statement on the First Quarter 2026
• Conference call for analysts and investors

May 20, 2026

• Annual General Meeting (virtual)

August 6, 2026

• Report on the First Half Year 2026
• Conference call for investors and analysts

November 5, 2026

• Statement on the First Nine Months 2026
• Conference call for investors and analysts

Investor Relations

SGL Carbon SE

Söhnleinstrasse 8

65201 Wiesbaden/Germany

Phone: +49 611 6029-103

E-mail: Investor-Relations@sglcarbon.com

www.sglcarbon.com

Important Note

This presentation contains statements relating to certain projections and business trends that are forward-looking, including statements with respect to SGL Carbon's outlook and business development, including developments in SGL Carbon's Graphite Solutions (GS), Process Technology (PT), Carbon Fibers (CF) and Composite Solutions (CS) businesses, expected customer demand, expected industry trends and expected trends in the business environment, statements related to SGL Carbon's cost savings programs. You can generally identify these statements by the use of words like "may", "will", "could", "should", "project", "believe", "anticipate", "expect", "plan", "estimate", "forecast", "potential", "intend", "continue" and variations of these words or comparable words. These statements are no historical facts, but rather based on current expectations, estimates, assumptions and projections about SGL Carbon's businesses and future financial results, and readers should not place undue reliance on them. Forward-looking statements do not guarantee future performance and involve risks and uncertainties. These risks and uncertainties include, without limitation, changes in political, economic, legal and business conditions, particularly relating to SGL Carbon's main customer industries, competitive products and pricing, the ability to achieve sustained growth and profitability in SGL Carbon's Graphite Solutions (GS), Process Technology (PT), Carbon Fibers (CF) and Composite Solutions (CS) businesses, the impact of any manufacturing efficiencies and capacity constraints, widespread adoption of carbon fiber products and components in key end-markets of SGL Carbon, including the automotive and aerospace industries, the inability to execute additional cost savings or restructuring measures, availability of raw materials and critical manufacturing equipment, trade environment, changes in interest rates, exchange rates, tax rates, and regulation, available cash and liquidity, SGL Carbon's ability to refinance its indebtedness, development of the SGL Carbon pension obligations, share price fluctuation may have on SGL Carbon's financial condition and results of operations and other risks identified in SGL Carbon's financial reports. These forward-looking statements are made only as of the date of this document. SGL Carbon does not undertake to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

^© Copyright SGL Carbon SE

^® Registered trademarks of SGL Carbon SE