HENSOLDT

H1 2021 Results – Analyst & Investor Presentation

Taufkirchen, 4th of August 2021

Thomas Müller, CEO Axel Salzmann, CFO

HENSOLDT

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Disclaimer

This presentation and the information contained herein are for information purposes only and should not be treated as investment advice or recommendation. It is not, and nothing in it should be construed as an offer for sale, or as a solicitation of an offer to purchase or subscribe to, any securities in any jurisdiction. Neither this presentation nor anything contained therein shall form the basis of, or be relied upon in connection with, any commitment or contract whatsoever. This presentation does not constitute a prospectus in whole or in part, and any decision to invest in securities should be made solely on the basis of the information to be contained in a prospectus and on an independent analysis of the information contained therein. This presentation may not, at any time, be reproduced, distributed or published (in whole or in part) without prior written consent of HENSOLDT. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the laws of any state of the United States, and may not be offered, sold or otherwise transferred in the United States absent registration or pursuant to an available exemption from registration under the Securities Act.

Certain financial information including financial information as of and for the H1 period ended June 30, 2021 is unaudited. This presentation contains certain supplemental financial or operative measures that are not calculated in accordance with International Financial Reporting Standards as adopted by the European Union ("IFRS") or any other generally accepted accounting principles, and are therefore considered non-IFRS measures. We believe that such non-IFRS measures, when considered in conjunction with (but not in lieu of) other measures that are computed in accordance with IFRS, enhance the understanding of our business, results of operations, financial position or cash flows. There are, however, material limitations associated with the use of non-IFRS measures including (without limitation) the limitations inherent in the determination of relevant adjustments. The non-IFRS measures used by us may differ from, and may not be comparable to, similarly-titled measures used by other companies.

The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein and no reliance should be placed on it. HENSOLDT does not accept any liability for any loss howsoever arising (in negligence or otherwise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. This shall not, however, restrict or exclude or limit any duty or liability to a person under any applicable law or regulation of any jurisdiction which may not lawfully be disclaimed (including in relation to fraudulent misrepresentation).

The information contained in this presentation is provided as of the date of this presentation and is subject to change without notice.

Forward Looking Statement

This presentation may contain forward-looking statements about HENSOLDT and its businesses, including statements concerning its strategies, future growth potential of markets and products, profitability in specific areas, future product portfolio, and development of and competition in economics and markets. These statements are based on the current views, expectations, assumptions and information of management, and are based on information currently available to management. Forwardlooking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.

Any such forward-looking statements involve known and unknown risks which may cause actual results to differ significantly from any future results expressed or implied. While we believe that the assumptions made and the expectations reflected in today's presentation are reasonable, no assurance can be given that such assumptions or expectations will prove to have been correct. The risks and uncertainties which these forward-looking statements may be subject to include (without limitation) future market developments and the impact of global and European social, political and economic events and developments, including the COVID-19 pandemic, as well as defence and security spending by governments, legal restrictions and controls applicable to sales of HENSOLDT's products, including government approval requirements and moratoriums, international conflicts and political developments affecting HENSOLDT, including by way of new export restrictions, trade barriers, or political support for competitors, HENSOLDT's inclusion and participation in major defence projects and platforms and HENSOLDT's competitive situation.

The company assumes no liability whatsoever to update these forward-looking statements or to adjust them to future events or developments.

HENSOLDT's public reports and presentations are available via www.hensoldt.net

HENSOLDT Business Update

HENSOLDT

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HENSOLDT: Strong momentum continues

In May KfW acquired 25.1% of HENSOLDT's shares

Chief Strategy Officer to the HENSOLDT Management

Pipeline transforms into order intake of €2.112m in first half year

Strategic position strengthened across all domains in Germany

Other European key programs continue to evolve

HENSOLDT is fully on track

We continue to 'walk the talk' and deliver on our guidance

We continue to benefit from the growth momentum in the defence electronics sector
We further expanded our position in German and European key programs

HENSOLDT Financials

HENSOLDT

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H1 2021 – growth in top line exceeds own expectations in €m

(1) Order intake is defined as orders where the corresponding selling contract becomes effective and enforceable in accordance with the terms and conditions of the contract. (2) Order backlog is defined as the value of the order book at the respective reporting date by keeping record of customer orders starting from the opening stock and taking into account revenue and adjustments for the respective reporting period, and ending with the final stock.

H1 2021 – bottom line develops above own expectations in €m

for certain non-recurring effects relating to effects on earnings from purchase price allocations, transaction costs, separation costs, IPO related costs and other non-recurring effects. ((3) Adjusted Pre-Tax Unlevered Free Cash Flow is defined as free cash flow adjusted for non-recurring operating effects as well as interest, tax and M&A activities. The free cash flow is defined as sum of the cash flows from operating and investing activities as reported in the consolidated cash flow statement.

We walk the talk and are well positioned

HENSOLDT is fully on track

Pipeline further materializes
Again record level of order backlog
High visibility of revenues
KPIs exceed own expectations

HENSOLDT confirms short- and mid-term guidance for all KPIs

Further growth in top and bottom line
Profitability remains on high level due to efficient project execution
Further investments in technology leadership
Operative cash generation enables further deleveraging

HENSOLDT Q&A session

HENSOLDT

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HENSOLDT Financial Section

HENSOLDT

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Consolidated Income Statement

	Fir ha lf y st ea r
€m	20 21	20 20
Re ve nu e	48 6.2	44 0.3
Co f s ale st o s	( 41 4.4 )	( 37 4.8 )
Gr rof it os s p	71 .8	65 .5
Se llin nd dis trib utio g a n e xp en ses	( 48 .9)	( 42 .2)
Ge ral ad min istr ativ ne e e xp en ses	( 39 .0)	( 37 .7)
Re rch d d lop nt ts sea an eve me cos	( .1) 15	( .9) 13
Ot he rat ing in r o pe co me	18 .9	9.7
Ot he rat ing r o pe ex pe nse s	( 7.6 )	( 8.9 )
Sh of ofit /lo fro inv est nts unt ing fo sin the uity eth od are pr ss m me ac co r u g eq m	( 2.0 )	( 1.8 )
efo fin s ( IT) Ea rni s b lt a nd in ta EB ng re an ce re su co me xe	( 21 .9)	( 29 .3)
Inte t in res co me	4.3	2.0
Inte t e res xp en se	( 24 .0)	( 85 .4)
Ot he r fi in /co sts na nce co me	3.4	( 4.5 )
Fin lt an ce re su	( 16 .3)	( 87 .9)
Ea rni s b efo inc e t ng re om ax es	( 38 .2)	( 11 7.2 )
Inc e t om axe s	9.7	28 .3
Gr ult ou p res	( 28 .5)	( 88 .9)
the f a ttri bu tab le the of HE NS OL DT AG to reo ow ne rs	( 27 .1)	( 88 .4)
the f a ttri bu tab le to tro llin int sts reo no n-c on g ere	( 1.4 )	( 0.5 )

Consolidated Statement of Cash Flows

		Fir ha lf y st ea r
€m	20 21	20 20
Gr ult ou p res	( .5) 28	( .9) 88
De cia tio nd ort iza tio pre n a am n	60 .1	57 .7
Fin cia l (ne t) an ex pe nse s	17 .1	83 .4
Ch in rkin ital (1) net an ge wo g c ap	( 43 .7)	43 .2
Inte t p aid res	( 18 .7)	( 22 .4)
Inc e t om ax ex pe nse	( ) 9.7	( .3) 28
r(2) Ot he	( 15 .3)	( 2.8 )
Ca sh flo fro tin cti vit ies ws m op era g a	( 38 .7)	41 .9
Ac isit ion /ad dit ion of in tan ible set nd rty lan t a nd uip nt qu g as s a pro pe , p eq me	( 48 .2)	( 50 .6)
Ac isit ion of iate the r in nd oth t in stm ts a stm ts qu as soc s, o ve en er no n-c urr en ve en	( 4.6 )	1.6
of of Ac isit ion bu sin net sh uir ed qu ess es ca acq	( ) 8.4	-
r(3) Ot he	0.1	0.2
Ca sh flo fro inv tin cti vit ies ws m es g a	( 61 .1)	( 48 .8)
Pro ds/ t o f fi nci al liab iliti (4) cee rep aym en na es	( 23 9.2 )	20 3.5
Pa f le lia bili tie t o ym en ase s	( ) 7.7	( 6.7 )
of NS OL AG Div ide nd aid to sh ho lde HE DT s p are rs	( 13 .7)	-
Tra ctio ost iss of uity nsa n c on ue eq	( 3.3 )	-
Ca sh flo fro fin cin cti vit ies ws m an g a	( 26 3.9 )	19 6.8
Eff ect f m ts in e xch tes sh d c h e iva len ts s o ov em en an ge ra on ca an as qu	0.0	( 3.6 )
Ot he dju stm ts r a en	-	( 2.1 )
Ne t c ha in sh d c h e iva len ts ng es ca an as qu	( 36 3.7 )	184 .2
Ca sh d c h e iva len ts an as qu
Ca sh d c h e iva len ts at be inn ing of rio d an as qu g pe	64 5.5	137 .4
Ca sh d c h e iva len ts at d o f p eri od an as qu en	28 1.8	32 1.6

(1) Includes changes in provisions, inventories, contract balances, trade receivables, trade payables, other assets and liabilities. (2) Includes Allowances on inventories, trade receivables and contract assets, Profit/loss from disposals of non-current assets, Share of profit in entities accounting for using the equity method, Other non-cash expenses/income, Income taxes payments / refunds, (3) Proceeds from sale of intangible assets and property, plant and equipment and Other cash flows from investing activities, (4) Proceeds / repayment from financial liabilities and Change in other financial liabilities.

Consolidated Statement of Financial Position – Assets

As at
€m	H1 20 21	YE 20 20
No t a ets n-c urr en ss	1, 33 9.5	1, 31 3.4
Go od wil l	65 1.9	63 7.2
Inta ible set ng as s	39 3.5	38 6.2
Pro rty lan t a nd uip nt pe , p eq me	103 .8	103 .1
Rig ht- of- ets use ass	145 .3	143 .5
Inv est nts d o the r fi nci al a ts (1) me an na sse	17 .5	12 .3
Ot he nt ets r n on -cu rre ass	3.4	4.8
De fer red ta ts x a sse	24 .1	26 .3
Cu nt ts rre as se	1, 36 1.7	1, 63 4.2
Ot he r(2)	11 .3	19 .9
Inv tor ies en	50 1.3	40 3.7
Co ntr act set as s	193 .5	20 4.4
Tra de iva ble re ce s	24 2.1	28 2.0
Ot he nts set r cu rre as s	13 1.7	78 .7
Ca sh d c h e iva len ts an as qu	28 1.8	64 5.5
To tal ts as se	2, 70 1.2	2, 94 7.6

(1) Includes Investments accounted for using the equity method, Other investments and non-current other financial assets, Non-current other financial assets. (2) Includes Other non-current financial assets, due on short-notice, Other current financial assets, Income tax receivables.

Consolidated Statement of Financial Position - Equity and Liabilities

	As at
€m	H1 20 21	YE 20 20
Sh ital are ca p	105 .0	105 .0
(1) Ca ital d o the p re se rve an r re se rve s	53 7.5	51 0.5
Re tai d e ing ne arn s	( 30 8.7 )	( 28 1.6 )
Eq uit he ld by sh ho lde of HE NS OL DT AG y are rs	33 3.8	33 3.9
No tro llin inte ts n-c on g res	11 .2	12 .9
Eq uit tot al y,	34 5.0	34 6.8
No t li ab ilit ies n-c urr en	1, 23 5.2	1, 25 7.1
No t p isio n-c urr en rov ns	45 4.4	48 2.6
No t fi nci liab iliti (2) n-c urr en na ng es	60 2.8	60 1.5
No liab iliti t c tra ct n-c urr en on es	22 .5	16 .0
No t le lia bili tie n-c urr en ase s	142 .7	140 .3
Ot he nt liab iliti r n on -cu rre es	6.9	9.0
De fer red x li ab iliti ta es	5.9	7.7
Cu nt lia bil itie rre s	1, 12 1.0	1, 34 3.7
Cu nt vis ion rre pro s	16 1, 9	193 .6
Cu nt f ina nci liab iliti (3) rre ng es	21 9.9	46 1.1
Cu nt ntr act lia bili tie rre co s	44 9.4	41 6.8
Cu nt lea liab iliti rre se es	15 .4	13 .7
Tra de ble pa ya s	188 .1	164 .0
Ot he t lia bili tie r c urr en s	84 .4	86 .9
Ta x li ab iliti es	1.9	7.6
To tal uit nd lia bil itie eq y a s	2, 70 1.2	2, 94 7.6

(1) Includes Capital reserve, Other reserves. (2) Includes Non-current financing liabilities, Other non-current financial liabilities. (3) Includes Current financing liabilities, Other current financial liabilities.

Reconciliation of reported to adjusted pre-tax unlevered FCF

	Fir st ha lf y ea r
€m	20 21	20 20
Ca flow s f sh tin ctiv itie rom op era g a s	( 38 .7)	41 .9
Ca sh flow s f inv est ing act ivit ies rom	( 61 .1)	( 48 .8)
Fre h f low e c as	( .8) 99	( ) 6.9
( +) Tra ctio ost nsa n c s	0.2	0.9
( +) Se ion rat sts pa co	-	( 0.1 )
( +) IPO late d c ost re s	3.5	3.9
( +) Ot he rrin ffe cts r n on -re cu g e	4.7	7.5
(1), (2) (3) ( +) Inte t inc e t d M &A tivi tie res om axe s an -ac s	34 .1	20 .9
Ad jus ted lev d f sh flo e-t pr ax un ere ree ca w	( 57 .3)	26 .2
Ca sh flo fro fin cin cti vit ies ws m an g a	( 26 3.9 )	19 6.8

(1) Defined as 'Interest paid' as reported in the consolidated cash flow statement. (2) Defined as 'Income taxes payments / refunds' as reported in the consolidated cash flow statement. (3) Defined as sum of 'Share of profit in entities accounting for using the equity method', 'Proceeds from sale of intangible assets and property, plant and equipment', 'Acquisition of associates, other investments and other non-current investments', 'Acquisition of businesses net of cash required' and 'Other cash flows from investing activities' as reported in the consolidated cash flow statement.

Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures

		Fir st ha lf y ea r
€m	20 21	20 20
Or de r in tak e	2, 11 1.6	1, 77 5.6
Se nso rs	1, 90 4.7	1, 65 4.6
Op tro nic s	20 9.6	122 .0
l/O Eli min atio n/T the ran sve rsa rs	( 2.7 )	( 1.1 )

€m
Re ve nu e	48 6.2	44 0.3
Se nso rs	37 5.7	34 3.5
Op tro nic s	11 1.3	97 .7
Eli min atio n/T l/O the ran sve rsa rs	( 0.8 )	( 0.9 )

€m
(1) Ad jus ted EB ITD A	44 .1	41 .3
Se nso rs	35 .7	32 .8
Op tro nic s	10 .7	10 .3

(1) Adjusted EBITDA is defined as EBIT adjusted for depreciation and amortization (including non-recurring effects on earnings from purchase price allocations), as well as certain non-recurring effects relating to transaction costs, separation costs, IPO related costs and other non-recurring effects.

Elimination/Transversal/Others

(1.8)

(2.3)

Overview of EBITDA and EBIT adjustments

E B I T D A d j ( €m ) tm ts a us en
	H1 20 21	H1 20 20
EB IT	( 21 .9)	( 29 .3)
( +) De cia tio pre n	21 .5	19 .5
( +) Am ort iza tio n	38 .6	38 .2
EB ITD A	38 .2	28 .4
( +) Tra ctio ost nsa n c s	0.1	0.4
( +) Se rat ion sts pa co	-	-
( +) IPO late d c ost re s	0.8	4.2
( +) Ot he rrin ffe cts r n on -re cu g e	5.0	8.3
Ad j. EB ITD A	44 .1	41 .3

E B I T d j tm ts ( €m ) a us en
	H1 20 21	H1 20 20
EB IT	( 21 .9)	( 29 .3)
( +) Eff rni s f rch ice al loc atio ect on ea ng rom pu ase pr ns	31 .8	34 .3
f in the tan ible ts reo g as se	31 .5	34 .0
the f p ert lan t a nd uip nt reo rop y, p eq me	0.3	0.3
the f in tor ies reo ven	-	-
( +) Tra ctio ost nsa n c s	0.1	0.4
( +) Se rat ion sts pa co	-	-
( +) IPO late d c ost re s	0.8	4.2
( +) Ot he rrin ffe cts r n on -re cu g e	4.9	8.5
Ad j. EB IT	15 .7	18 .1

Q2 Key KPIs HENSOLDT Group

€ m
	Q 2 2 0 2 1	Q 2 2 0 2 0
Or de in ta ke r	1, 6 4 5 5.	1, 9 1. 0 5
(2) Bo k- to -b i l l ra t io o	5. 6	6. 5
Re ve nu e	2 7 7. 4	2 4 3. 7
(3) A d j te d E B I T us	1 4. 1	1 0. 4
(4) A d j te d E B I T D A us	2 9. 0	2 1. 8
A d j te d E B I T D A in us ma rg	1 0. 5 %	8. 9 %
(5) A d j d p lev d fre h f low te -ta us re x un er e e c as	-2 5. 3	4 2. 4

(1) Order backlog is defined as the value of the order book at the respective reporting date by keeping record of customer orders starting from the opening stock and taking into account revenue and adjustments for the respective reporting period, and ending with the final stock. (2) Book-to-Bill ratio is defined as order intake / reported revenue for the relevant period. (3) Adjusted EBIT is defined as EBIT adjusted for certain non-recurring effects relating to effects on earnings from purchase price allocations, transaction costs, separation costs, IPO related costs and other non-recurring effects. (2) Adjusted EBITDA is defined as EBIT adjusted for depreciation and amortization (including non-recurring effects on earnings from purchase price allocations), as well as certain non-recurring effects relating to transaction costs, separation costs, IPO related costs and other non-recurring effects. (4) Adjusted pre-tax unlevered free cash flow is defined as free cash flow adjusted for non-recurring operating effects as well as interest, tax and M&A activities. The free cash flow is defined as sum of the cash flows from operating and investing activities as reported in the consolidated cash flow statement. (5) Adjusted Pre-Tax Unlevered Free Cash Flow is defined as free cash flow adjusted for non-recurring operating effects as well as interest, tax and M&A activities. The free cash flow is defined as sum of the cash flows from operating and investing activities as reported in the consolidated cash flow statement.(6) Net

HENSOLDT Back-up

HENSOLDT

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Guidance 2021 and medium term targets confirmed

	2 0 2 1 t t a r g e	2 0 2 2 t t a r g e	M d i t t t e m e r m a r g e u
( 1) B k- t b i l l t i o o o- r a o	~2 x	1 > x	1 > x
R / t h e v e n u e r e v e n u e g r o w	€ 1. 4- 1. 6 b n	M i d t t h e e n s g r o w	M i d t h i h i l d i i t o g s n g e g
( 2) A d j. E B I T D A i m a r g n	Exc l. p -th h ass rou g rev enu es ~1 8 % (~ €10 0m ) w ith effe cts fro ly m ear sta of jor jec ts ge ma pro	to a 20 19 lev els in the diu m t rec ove ry ppr ox. me erm (~ €15 ) l. p -th h re 0m in s hor t te exc ass rou g ven ues rm
( 3 ) A d j. t l d F C F p r e- a x u n e v e r e	~7 0 % ion d j te d E B I T D A co nv ers on a us	C: eaf fall % of r NW sta ble in abs olu te t s, t her ter ing sli htly erm g as eve nue Ca 12% of forw 3% sh tax te: 202 2: 10- tha nks to tax los ard edi te 28. ra use s c arr s, m um rm y
( 4) N t l e e v e r a g e	2. 2 5 < x	2 < x
D i i d d e n v	Up 2 0 % f d j. inc to t o a ne om e	Up 2 0 % f d j. inc to t o a ne om e	3 0- 4 0 % f d j. inc t o a ne om e
C d i t i b l i t t a p e a n n a n g e n e s m e n x v	Ca 2. 0- 2. % f 5 € 8 5- 9 0m p ex : o rev en ue p. a. Ca R & D: 2. 0- 3. 0 % f ( /w € 5 0- 5 5m i l ize d R & D ) ta p. o rev en ue o ca p
D & A ( % f ) o r e e n e s v u	~4 % ( /w I A S 3 8 1- 2 % ) f r o o ev en ue

(1) Book-to-Bill ratio is defined as order intake / reported revenue for the relevant period. (2) Adjusted EBITDA is defined as EBIT adjusted for depreciation and amortization (including non-recurring effects on earnings from purchase price allocations), as well as certain non-recurring effects relating to transaction costs, separation costs, IPO related costs and other non-recurring effects / / reported revenue for the relevant period. (3) Adjusted Pre-Tax Unlevered Free Cash Flow is defined as free cash flow adjusted for non-recurring operating effects as well as interest, tax and M&A activities. The free cash flow is defined as sum of the cash flows from operating and investing activities as reported in the consolidated cash flow statement.(4) Net financial leverage including lease liabilities, excluding pensions.

Holistic Group ESG Strategy 2026 released to strengthen performance

Group Key Targets 2026 to fully embed ESG within business

C l t u s e r s	T t a r g e s
B i I t i t u s n e s s n e g r y	De Bu ine In i by ing bre he f c l ian law ( ion / br i be i ion l ). tra te teg ty t t t t c tro mo ns s ss r e ns ur ze ro ac s o om p ce s e.g . c or ru p ry, co mp e ex p or on  , Pr he da f o loy d a l l o he ke ho l de d p f da lea ks tec t t ta to t ta t a ta  o o ur em p ee s, cu s me rs an r s rs an rev en ny ca se s o Ma ke d ig i ta l iza t ion tr i bu to to ta ina b i l i ty t H E N S O L D T.  a co re co n r su s a f S G Le ta ina b le ina ing d p t ic ip te in E t ing ve rag e s us nc a n ar a ra s. 
P d t R i b i l i t r o u c e s p o n s y	fu fo f a f Fo te inn t ion d c t inu im t; t he im lem t g i da t he i b le t i ic ia l in te l l ig d o t he s r ov a a n on ou s p rov em en r r p en nc e r re sp on s us e o r en ce a n r  u lev la d H E N S O L D T du d s ice t a ts te to ts re an sp ec re p ro c an erv s. De lop lu t ion t ha t p tec t o ie ty d o lan t a d e ha i l d l i fe tec t ion d c l im te bs t ion j ts.  ve so s ro ur so c an ur p e n n nc e w p ro a n a o erv a p ro ec
H l h d S f t t e a a n a e y	Ma in in L T I F R f u de 0. ke loy he l hy d s fe ta 7 5 to t a o n r ep e mp ee s a a n a  Fo te loy ' m ta l a d p hy ica l w l l- be ing  s r o ur em p ee s en n s e
H P t t i l u m a n o e n a	Be loy f c ho ice d m in ta in loy t is fac t ion bo t he Ge t be hm k.  e mp er o a n a em p ee sa a ve rm an g ov er nm en nc ar Se % l o tu i t ies d p te d ive kp lac t he by inc ing in lea de h ip i t ion to 3 5  cu re eq ua p p or n a n ro mo a rse w or e, am on g o rs rea s w om en rs p os s
C i R l i t t o m m n e a o n s u y	Be d c i ize by inc ing lun ing ho loy 8 p te t te tee to a g oo or p or a c n rea s co rp or a vo r urs p er em p ee er y ea r.  Ma in ta in d ia log i t h s ta ke ho l de t hro h 1 s ta ke ho l de d ia log t e h s i te  ue w rs ug r ue a ac p er y ea r.
S R i b l i e s p o n s e o u r c n g	Ma ly ha in i b ly by i de i fy ing d m i ig ing l ier E S G is ks t t t  na g e s up p c res p on s n a n a su p p r
P l d R t a n e a n e s o r c e s u	Re du bo foo in h iev C O 2 n l i by 2 0 3 tp t to tra ty 5. ce ca r n r ac e eu  Fo te t ion l e iro ta l p tec t ion by t i fy ing 1 0 0 % f s i tes fo I S O 1 4 0 0 1.  s r o p er a a nv nm en ro ce r o r

HENSOLDT's ESG achievements and ambitions in 2021

	E P l t a n e	S H P t t i l u m a n o e n a	G B i I t i t u s n e s s n e g r y
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HENSOLDT

H1 2021 Results – Analyst & Investor Presentation

Disclaimer

Forward Looking Statement

HENSOLDT Business Update

HENSOLDT: Strong momentum continues

Pipeline transforms into order intake of €2.112m in first half year

Strategic position strengthened across all domains in Germany

Strategic position strengthened across all domains in Germany

Other European key programs continue to evolve

HENSOLDT is fully on track

HENSOLDT Financials

H1 2021 – growth in top line exceeds own expectations in €m

H1 2021 – bottom line develops above own expectations in €m

We walk the talk and are well positioned

HENSOLDT is fully on track

HENSOLDT confirms short- and mid-term guidance for all KPIs

HENSOLDT Q&A session

HENSOLDT Financial Section

Consolidated Income Statement

Consolidated Statement of Cash Flows

Consolidated Statement of Financial Position – Assets

Consolidated Statement of Financial Position - Equity and Liabilities

Reconciliation of reported to adjusted pre-tax unlevered FCF

Reconciliation of order intake, segment revenue and adjusted EBITDA to group figures

Overview of EBITDA and EBIT adjustments

Q2 Key KPIs HENSOLDT Group

HENSOLDT Back-up

Guidance 2021 and medium term targets confirmed

Group Key Targets 2026 to fully embed ESG within business

HENSOLDT's ESG achievements and ambitions in 2021

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