STEMMER IMAGING AG

Quarterly Report • Nov 10, 2022

QUARTERLY FINANCIAL REPORT

FOR THE PERIOD FROM 1 JANUARY TO 30 SEPTEMBER 2022

AT A GLANCE

GROUP KEY FIGURES

in KEUR
	01/01 – 30/09/2022	01/01 – 30/09/2021
Revenue	112,977	97,9421
Gross profit	42,620	38,299
Gross profit margin	37.7%	39.1%1
EBITDA	18,713	12,459
EBIT	15,798	9,496
Consolidated net income	11,444	7,346
Operating cashflow after income
taxes	8,601	7,993
Employees (average)	327	327

	30/09/2022	31/12/2021
Total assets	114,163	103,576
Equity	77,938	71,368
Equity ratio	68.3%	68.9%
Cash and cash equivalents	36,490	36,022

STEMMER IMAGING IN FIGURES

Order intake: EUR 126.30 million

68.3 per cent Equity ratio

EUR 1.76 earnings per share

>5,000 customers

327 employees 15 subsidiaries and represented in > 20 countries

This report and results from previous fiscal years in English language versions are available for you to download at www.stemmer-imaging.com

1 The comparative values for the first nine months 2021 were adjusted due to a change in the accounting method as at 31 December 2021 for trading in standard software licences.

Additional explanations of the adjustments to revenue and cost of materials can be found in the notes to the consolidated financial statements as at 31 December 2021, section B, under items 19 and 21.

CONTENTS

QUARTERLY FINANCIAL REPORT FOR THE PERIOD FROM 1 JANUARY TO 30 SEPTEMBER 2022

Executive Board report	2
Consolidated interim management report
Net assets, financial position and results of operations	4

Report on expected developments 7

Additional information

Financial calendar	15
Imprint	16

Consolidated financial statements

Consolidated statement of financial position	8
Consolidated income statement	10
Consolidated statement of comprehensive income	11
Consolidated statement of cash flows	12
Consolidated statement of changes in equity	14

The quarterly report has not been audited. It was prepared on the basis of the accounting regulations used in the last consolidated financial statements. The quarterly report contains statements and information made by STEMMER IMAGING pertaining to future periods. These forward-looking statements are estimates made on the basis of all information available at the time the quarterly report was prepared. If the assumptions underlying the forecasts prove to be incorrect, actual developments and results may differ from what is currently expected. The company is under no obligation to update the statements contained in this report other than as required by the laws on publications.

Rounding may mean that individual figures given in this report do not add up exactly to the given total and that percentages are not the exact result to the figures presented.

EXECUTIVE BOARD REPORT

The third quarter of 2022 was marked by geopolitical events of previously known but also new magnitude with significant social, political and economic consequences. While raw material shortages, supply chain disruptions, and the Corona pandemic are now emerging as increasingly manageable, strong inflation, rising interest rates, the impact of the energy crisis, and an increasingly weak consumer climate are beginning to reveal new challenges.

As a company in machine vision, STEMMER IMAGING, like all other market players, is exposed to this unprecedented array of challenges. Fortunately, the stable and ongoing megatrends of digitalization, the need for a sustainable economy, changes in globalization, and advancing automation are positive business drivers for machine vision solutions that STEMMER IMAGING can benefit from in these challenging times.

The fact that the company has succeeded in doing so is demonstrated by the renewed above-average growth rates in terms of both revenue and profitability indicators. For the first three quarters, the company reports an order intake of EUR 126.3 million, which continues to be above the cumulative revenue achieved and above the previous year's figure. Revenue increased to EUR 113.0 million, which corresponds to a growth of 15.4 % compared to the same period of the previous year. The past third quarter showed record figures with revenue of EUR 40.6 million and an increase of 18.3 % compared to the previous year. The strong performance of the income statement figures adds financial stability to already very solid balance sheet ratios such as an equity ratio of 68.3 %.

Disproportionate growth was achieved in key regions such as Germany, France, the Netherlands and the Scandinavian countries. In terms of end markets, the important growth market of sports & entertainment continued to record significant growth, as did important future markets such as raw materials & recycling. The continuing high level of activity in the area of electromobility remains an important growth driver for the company in the future.

Despite increasing inflation and negative exchange rate developments, the gross profit ratio remained robust at 37.3 %. The consistent management of supply chains and active price management are the most important measures here.

Due to increased marketing activities and adjusted for one-off costs and currency translation effects, other operating expenses rose by 17.7 % year-on-year, but were kept at a stable cost level thanks to scaling organizational processes. Of particular note in the area of marketing strategy is the launch of the in-house development "STEMMER IMAGING Modular Embedded", an innovative and comprehensive out-of-the-box embedded solution. With this ecosystem, STEMMER IMAGING is launching a subsystem for building complex applications for industrial and non-industrial applications based on the latest and most powerful hardware and GPU-accelerated algorithms from the STEMMER IMAGING software framework.

Overall, this had a positive effect on the operating result (EBITDA), which now stands at EUR 18.7 million for the first nine months, an increase of 50 % compared to the same period of the previous year. In the third quarter, EBITDA rose by 63.0 % to EUR 7.4 million. The EBITDA margin in the quarter under review was thus 18.3 % and above the previous quarter's level for the eleventh time in succession. For the nine-month period, this figure was a strong 16.6 %.

The operating cash flow of EUR 8.6 million in the first nine months and the net financial debt of EUR – 32.49 million (31 December 2021: – 30.52 million) clearly underline the solid financial position. The company remains focused on the growth-related increase in working capital.

STEMMER IMAGING's performance this year again underscores its good positioning in key growth markets. The EUR 200 million mark targeted for 2024 with a profitability of 13 – 16 % EBITDA is within sight with the business figures achievable this year and also remains a declared corporate goal. With a view to achieving the mid-term target, the company is considering inorganic growth in addition to organic growth. For the current fiscal year, based on the actual company figures and visibility for the current final quarter of 2022, revenue of EUR 150 – 156 million are expected, which is at the upper end of the previously stated revenue range of EUR 143–156 million. For the operating result (EBITDA), the company now expects an EBITDA of EUR 24.0–27.5 million for the full year, above the previously indicated range of EUR 19 –24 million.

Despite the current risks, STEMMER IMAGING AG's outlook remains positive. With its robust business model and strong profitability, the company is well positioned to take advantage of the continued excellent market opportunities and to stay on course for further above-average growth.

CONSOLIDATED INTERIM MANAGEMENT REPORT

NET ASSETS, FINANCIAL POSITION AND RESULTS OF OPERATIONS

NET ASSETS

As at 30 September 2022, the STEMMER IMAGING Group's total assets amounted to EUR 114.16 million, up on the level as at 31 December 2021 (EUR 103.58 million). On the assets side of the balance sheet, this increase is largely influenced by the rise in current assets.

Non-current assets decreased to EUR 31.91 million as at 30 September 2022 (31 December 2021: EUR 32.87 million). The reduction is attributable to the ongoing depreciation of property, plant and equipment and amortization of intangible assets, including contract assets from leases in accordance with IFRS 16, which were only offset by minor new and replacement investments.

Inventories increased to EUR 17.73 million in the third quarter of fiscal year 2022 (31 December 2021: EUR 15.59 million).

Trade receivables increased from EUR 16.96 million to EUR 25.71 million due to the increase in revenue.

Cash and cash equivalents increased by EUR 0.5 million to EUR 36.49 million as at 30 September 2022 (31 December 2021: EUR 36.02 million).

Equity amounted to EUR 77.94 million as at 30 September 2022 (31 December 2021: EUR 71.37 million), corresponding to an equity ratio of 68.3 % (31 December 2021: 68.9 %).

As at 30 September 2022, non-current liabilities decreased to EUR 7.29 million compared to 31 December 2021 EUR 8.77 million. The main factor influencing the decrease is the reclassification of the current portion of a non-current bank loan in the amount of EUR 1.50 million.

Current liabilities increased from EUR 23.44 million as at 31 December 2021 to EUR 28.94 million as at 30 September 2022. This increase primarily results from the increase in current trade payables by EUR 2.99 million to EUR 13.74 million (31 December 2021: EUR 10.75 million) and the increase in income tax liabilities by EUR 2.62 million to EUR 3.90 million (31 December 2021: EUR 1.28 million).

FINANCIAL POSITION

The objective of the Group's financial management is to hedge material financial risks. Use is made of discounts wherever possible when settling supplier invoices. The company's solvency was assured at all times.

Cash flow from operating activities amounted to EUR 8.60 million in the first nine months of fiscal year 2022 (1 January to 30 September 2021: EUR 7,99 Mio.). Cash flow was positively influenced mainly by the strong operating result, but was only slightly above the previous year's figure due to the increase in working capital – mainly as a result of higher receivables.

Cash flow from investing activities amounted to EUR –0.25 million (1 January to 30 September 2021: EUR –19.59 million) and is mainly influenced by investments in property, plant and equipment. The effect in the first quarter of 2021 from the disbursement of a short-term loan to PRIMEPULSE SE (EUR 19.56 million), which was then paid back in full at the end of 2021, explains the deviation when comparing 2022 with the previous year.

Cash flow from financing activities of EUR –7.83 million (1 January to 30 September 2021: EUR – 6.07 million) was significantly influenced by the payment of the dividend to shareholders in the second quarter of 2022 in the amount of EUR 4.88 million (1 January to 30 September 2021: EUR 3.25 million) as well as the repayments of the bank loan and liabilities from finance leases in the amount of EUR 2.95 million (1 January to 30 September 2021: EUR 2.85 million).

As at the reporting date, the Group had net financial liabilities (liabilities to banks less cash and cash equivalents) of EUR –32.49 million (31 December 2021: EUR –30.52 million).

RESULTS OF OPERATIONS

In the third quarter of 2022, STEMMER IMAGING recorded order intake of EUR 38.02 million slightly down on the same quarter of the previous year (1 July to 30 September 2021: EUR 38.41 million). Due to seasonal factors and influenced by the strong increase in revenue, the book-to-bill ratio in the third quarter was 0.9. Order intake for the first nine months of fiscal year 2022 amounted to EUR 126.30 million (1 January to 30 September 2021: EUR 121.24 million) and was thus 4.3 % higher than in the same period of the previous year. The book-to-bill ratio in the first nine months of the fiscal year was 1.1, slightly below the level of the previous year (1 January to 30 September 2021: 1.2).

In the third quarter of 2022, STEMMER IMAGING Group's revenue increased by 11.2 % compared to the previous quarter (1 April to 30 June 2022: EUR 36.51 million) and by 18.3 % compared to 2021 (1 July to 30 September 2021: EUR 34.31 million) to EUR 40.59 million. In the complete reporting period, revenue of EUR 112.98 million were achieved, representing an increase of 15.4 % compared to the first nine months of fiscal 2021 (1 January to 30 September 2021: EUR 97.94 million). Thanks to the good order situation, almost all companies were able to generate revenue above the level of the first nine months of fiscal year 2021.

In view of the higher revenue volume, the cost of materials amounted to EUR 25.44 million (1 July to 30 September 2021: EUR 21.02 million). In the past quarter, increased cost of materials due to spot market influences had a noticeable impact. In addition, a changed regional mix and exchange rate effects in US dollars had an impact, which could in part only be passed on to customers with a time lag. At 37.3 %, the gross profit margin in the third quarter of 2022 was on a par with the previous quarter, but down on the strong prior-year figure of 38.7 %. For the first nine months of fiscal 2022, a gross profit margin of 37.7 % was achieved (1 January to 30 September 2021: 39.1 %).

Personnel expenses amounted to EUR 5.65 million in the third quarter of 2022 (1 July to 30 September 2021: EUR 6.76 million). With a personnel expense ratio of 13.9 % for the past three months of the fiscal year, a significant improvement compared to the same period in 2021 with 19.7 % is visible. Personnel expenses amounted to EUR 18.23 million in the first nine months of fiscal year 2022 (1 January to 30 September 2021: EUR 19.76 million). The reduction compared to the previous year is due in particular to higher variable salary components in 2021. The average number of employees in the reporting period was 327 (1 January to 30 September 2021: 327).

Other operating expenses amounted to EUR 2.54 million in the third quarter of 2022 (1 July to 30 September 2021: EUR 2.05 million). The increase compared to the prior-year quarter resulted from higher selling expenses due to the generally increased activity level. Other operating expenses for the reporting period just ended increased significantly year-on-year to EUR 8.18 million (1 January to 30 September 2021: EUR 7.41 million). The previous year's expenses were burdened with non-recurring expenses of EUR 1.04 million.

At EUR 7.41 million (EBITDA margin 18.3 %), the operating result (EBITDA) in the third quarter of fiscal year 2022 was significantly above the level of the prior-year quarter at EUR 4.55 million (EBITDA margin 13.3 %). The operating result (EBIT) amounted to EUR 6.44 million in the third quarter of the fiscal year (1 July to 30 September 2021: EUR 3.58 million). This means that the EBIT margin rose from 10.4 % in the previous year to 15.9 %. STEMMER IMAGING Group's consolidated net profit for the third quarter of fiscal year 2022 was EUR 4.54 million (1 July to 30 September 2021: EUR 2.91 million).

At EUR 18.71 million (EBITDA margin: 16.6 %), the operating result (EBITDA) in the first nine months of fiscal year 2022 was significantly higher than the previous year's level of EUR 12.46 million (EBITDA margin: 12.7 %). The main reasons for the significant improvement compared to the previous year are, as described, the strong increase in revenue, the significant improvement in gross profit and the stable cost situation in the reporting period. Operating profit (EBIT) amounted to EUR 15.80 million in the first nine months, significantly exceeding the figure of EUR 9.50 million for the same period last year. As a result, the EBIT margin rose from 9.7 % to 14.0 % yearon-year. STEMMER IMAGING Group's net profit for the reporting period January to September 2022 amounted to EUR 11.44 million (1 January to 30 September 2021: EUR 7.35 million).

REPORT ON EXPECTED DEVELOPMENTS

In the third quarter, the global economy continued to be impacted by the difficult conditions with the Corona pandemic, strained supply chains, price increases and the war in Ukraine. Strong inflation, rising interest rates and the effects of the energy crisis are further challenges. The International Monetary Fund (IMF) expects global economic growth to increase by 3.2 % in 2022 (2021: 6.0 %). According to the IMF, global inflation will rise from 4.7 % in 2021 to 8.8 % in 2022.

According to preliminary estimates by Eurostat, the statistical office of the European Union, gross domestic product (GDP) in the EU increased by 0.2 % in the third quarter compared with the previous quarter. In the second quarter, growth was still at 0.7 %. Based on its latest forecast, the European Commission expects growth of 2.7 % for the full year 2022.

The German economy continued to be impacted by the ongoing difficult global economic conditions in the third quarter of 2022, price-adjusted GDP increased by 0.3 % compared with the second quarter, largely driven by private consumer spending. The Ifo Institute expects price-adjusted growth in Germany to be 1.6 % year-on-year in 2022.

Based on the high order backlog and a slight easing of supply bottlenecks, the German Mechanical Engineering Industry Association (VDMA) expects production in the German mechanical and plant engineering sector to grow by 1 % in 2022. For the machine vision sub-sector, the VDMA sees a continuation of the economic recovery on the basis of strong demand, particularly from abroad, and, according to the latest figures, expects an increase of 8 % for 2022 as a whole.

STEMMER IMAGING continued its positive revenue and earnings performance in the third quarter. As already announced in an ad hoc announcement on 2 November 2022, the Executive Board has specified its revenue forecast and raised its earnings forecast. Revenue of between EUR 150–156 million is now expected, which is at the upper end of the previous forecast range (previous forecast: EUR 143–156 million). This results in a percentage growth forecast for 2022 of between 15.3–19.9 %, which is significantly higher than the figures forecasted by the VDMA. The Executive Board now expects the operating result (EBITDA) to be between EUR 24.0–27.5 million above the initial range (previous forecast: EUR 19–24 million). The main reason for the increase in the earnings forecast is the expected stronger revenue growth in the second half of 2022 compared to the first half of 2022 as well as to the previous year. The scaling cost structure also has a positive impact on the operating result.

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2022

30/09/2022	31/12/2021
5,691	5,608
19,593	19,462
6,121	7,111
50	27
17	55
436	607
31,908	32,870
17,726	15,587
25,711	16,956
0	22
287	126
494	362
1,547	1,631
36,490	36,022
82,255	70,706
114,163	103,576

STEMMER IMAGING QUARTERLY FINANCIAL REPORT Q3 2022

EQUITY AND LIABILITIES in KEUR

	30/09/2022	31/12/2021
Capital and reserves
Subscribed capital	6,500	6,500
Capital reserves	47,495	47,495
Revenue reserves	23,943	17,373
Total equity	77,938	71,368
Non-current liabilities
Non-current loans	2,000	3,500
Provisions for pensions and similar obligations	47	47
Other financial liabilities	3,149	2,790
Other liabilities	790	641
Other provisions	234	225
Deferred tax liabilities	1,066	1,563
Total non-current liabilities	7,286	8,766
Current liabilities
Current loans	2,000	2,003
Other provisions	164	180
Trade payables	13,736	10,749
Contract liabilities and advance payments received on orders	1,511	1,185
Liabilities to affiliated companies	16	16
Other financial liabilities	1,887	1,876
Income tax liabilities	3,899	1,283
Other liabilities	5,726	6,150
Total current liabilities	28,939	23,442
Total liabilities	36,225	32,208
Total assets	114,163	103,576

CONSOLIDATED INCOME STATEMENT

DEVELOPMENT FROM 1 JANUARY 2022 TO 30 SEPTEMBER 2022

in KEUR

	01/01 – 30/09/2022	01/01 – 30/09/2021	01/07 – 30/09/2022	01/07 – 30/09/2021
Revenue	112,977	97,9421	40,592	34,3071
Cost of materials	– 70,357	– 59,6431	– 25,435	– 21,0211
Gross profit	42,620	38,299	15,157	13,286
Other operating income	2,505	1,338	436	60
Personnel expenses	– 18,234	– 19,764	–5,645	– 6,755
Other operating expenses	– 8,178	– 7,414	– 2,535	– 2,045
EBITDA	18,713	12,459	7,413	4,546
Depreciation and impairment of property, plant and equipment	– 1,923	– 1,875	–646	– 607
EBITA	16,790	10,584	6,767	3,939
Amortisation of intangible assets	– 992	–1,088	– 327	– 357
Operating earnings (EBIT)	15,798	9,496	6,440	3,582
Loss from investments accounted for using the equity method	0	– 90	0	0
Finance income	6	199	4	78
Finance costs	– 125	– 71	– 37	– 25
Profit before income taxes	15,679	9,534	6,407	3,635
Taxes on income	– 4,235	– 2,188	– 1,866	– 726
Consolidated net income	11,444	7,346	4,541	2,909
Of which:
Shareholders of the parent company	11,444	7,346	4,541	2,909
Number of shares (weighted average)	6,500,000	6,500,000	6,500,000	6,500,000
Earnings per share in EUR (diluted and basic)	1.76	1.13	0.70	0.45

¹ The comparative values for the first nine months 2021 were adjusted due to a change in the accounting method as at 31 December 2021 for trading in standard software licences.

Additional explanations of the adjustments to revenue and cost of materials can be found in the notes to the consolidated financial statements as at 31 December 2021, section B, under items 19 and 21.

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

DEVELOPMENT FROM 1 JANUARY 2022 TO 30 SEPTEMBER 2022 in KEUR

	01/01 – 30/09/2022	01/01 – 30/09/2021
Consolidated net income	11,444	7,346
Other comprehensive income
Items that will be reclassified to profit or loss in future under certain conditions
Exchange differences that arose during the reporting period	1	13
Other comprehensive income after income taxes	1	13
Total comprehensive income	11,445	7,359
Of which:
Shareholders of the parent company	11,445	7,359

CONSOLIDATED STATEMENT OF CASH FLOWS

DEVELOPMENT FROM 1 JANUARY 2022 TO 30 SEPTEMBER 2022

in KEUR

	01/01 – 30/09/2022	01/01 – 30/09/2021	01/07 – 30/09/2022	01/07 – 30/09/2021
Cash flow from operating activities
Consolidated net income	11,444	7,346	4,541	2,909
Income tax expense recognised in profit or loss	4,235	2,188	1,866	726
Finance costs/income recognised in profit or loss	66	–128	36	–53
Amortisation and depreciation of intangible assets, property, plant and equipment and investment securities	2,915	2,963	973	964
Increase (+)/decrease (-) in provisions	– 4	167	– 19	– 44
Other non-cash expenses/income	– 360	– 155	– 24	– 22
Gain/loss on disposal of property, plant and equipment and intangible assets	– 11	2	– 1	2
Increase (-)/decrease (+) in inventories, trade receivables and other assets	– 11,097	– 8,162	– 5,678	– 3,317
Increase (+)/decrease (-) in liabilities and other liabilities	3,456	5,104	3,240	4,410
Interest received	6	199	4	78
Cash flow from operating activities	10,650	9,524	4,938	5,653
Income taxes paid	– 2,049	– 1,531	– 449	– 306
Net cash flow from operating activities	8,601	7,993	4,489	5,347
Cash flow from investing activities
Payments for intangible assets	– 2	– 10	0	0
Proceeds from disposals of property, plant and equipment	58	85	30	11
Payments for investments in property, plant and equipment	– 285	– 140	– 96	– 22
Proceeds from disposal of financial assets	0	56	0	44
Payments for investments in financial assets	– 25	–19	– 24	0
Payments for financial investments as part of short-term treasury management	0	– 19,557	0	97
Net cash flow used in investing activities	– 254	– 19,585	– 90	130

DEVELOPMENT FROM 1 JANUARY 2022 TO 30 SEPTEMBER 2022 in KEUR

	01/01 – 30/09/2022	01/01 – 30/09/2021	01/07 – 30/09/2022	01/07 – 30/09/2021
Cash flow from financing activities
Proceeds from loans	18	0	0	0
Repayment of loans	– 2,948	– 2,849	– 992	– 942
Proceeds from grants received	49	104	22	21
Dividends paid to shareholders of the parent company	– 3,280	– 1,918	0	0
Dividends paid on free float shares	– 1,595	– 1,332	0	0
Interest paid	– 72	– 70	– 39	– 24
Net cash flow used in financing activities	– 7,828	– 6,065	– 1,009	– 945
Net increase/decrease in cash and cash equivalents	519	– 17,657	3,390	4,532
Cash and cash equivalents at the beginning of the reporting period	36,022	34,718	33,119	12,560
Changes in cash due to exchange rate movements and remeasurement	– 51	–166	– 19	–197
Cash and cash equivalents at the end of the reporting period	36,490	16,895	36,490	16,895
Of which cash in hand and bank balances	36,490	16,895	36,490	16,895

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FROM 1 JANUARY 2021 TO 30 SEPTEMBER 2021

in KEUR

				Revenue reserves
Subscribed capital	Capital re serves	Reserve for ac tuarial gains/ losses	Currency translation re serve	Other revenue reserve	Total	Total
6,500	47,495	8	110	9,966	10,084	64,079
0	0	0	0	7,346	7,346	7,346
0	0	0	0	– 1,918	– 1,918	– 1,918
0	0	0	0	– 1,332	– 1,332	– 1,332
0	0	0	13	0	13	13
6,500	47,495	8	123	14,062	14,193	68,188

FROM 1 JANUARY 2022 TO 30 SEPTEMBER 2022

in KEUR

	Subscribed capital	Capital re serves	Revenue reserves
			Reserve for ac tuarial gains/ losses	Currency translation re serve	Other revenue reserve	Total	Total
As at 1 January 2022	6,500	47,495	11	196	17,166	17,373	71,368
Consolidated net income	0	0	0	0	11,444	11,444	11,444
Distributions to shareholders of the parent company	0	0	0	0	– 3,280	–3,280	–3,280
Distributions to shares in free float	0	0	0	0	– 1,595	–1,595	–1,595
Currency adjustments	0	0	0	1	0	1	1
As at 30 September 2022	6,500	47,495	11	197	23,735	23,943	77,938

FINANCIAL CALENDAR ¹

Monday –Tuesday

$$2\mathfrak{B}/-2\mathfrak{B}/\mathfrak{1}$$

GERMAN EQUITY FORUM, FFRANKFURT AM MAIN

1 Dates may change at short notice.

IMPRINT

STEMMER IMAGING AG

Gutenbergstraße 9–13 82178 Puchheim Germany

Tel.: + 49 89 80902-0 Fax: + 49 89 80902-116 de.info@stemmer-imaging.com

Executive Board: Arne Dehn (CEO), Uwe Kemm (COO) Chairman of the Supervisory Board: Klaus Weinmann Commercial register: Munich HRB 237247 VAT no.: DE 128 245 559

Company responsible: STEMMER IMAGING AG Text and editing: STEMMER IMAGING AG Conception and design: Anzinger und Rasp Kommunikation GmbH Cover: MAD Werbeagentur GmbH & Co.KG

CONTACT

Arne Dehn CEO

ir@stemmer-imaging.com www.stemmer-imaging.com/investoren

The STEMMER IMAGING AG quarterly report is available in German and English. The German version is legally binding.

STEMMER IMAGING is an active member of