stratec

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ANNUAL REPORT 2025

MISSION STATEMENT

Together with our partners, we improve quality of life. We do this by leveraging our expertise, technology, and collaborative approach to develop innovative, purpose-built solutions for leading companies in in-vitro diagnostics and adjacent markets.

As a leading OEM partner, we share responsibility for the entire product life cycle: from initial design through development, regulatory approval, production, product expansion, and ongoing support.

Our success is based on the talent and dedication of our employees and our commitment to drive innovation forward.

Letter from the Board of Management | 6

Report of the Supervisory Board | 8

STRUCTURED FOR PROGRESS

Micropillars Revolutionizing Diagnostics and Enabling Cell Therapy | 16

From Diagnostics to Cell Therapy | 19

Innovation in Focus With Our Partner BendBio | 20

From Rare Cells to Real-World Impact | 22

STRATEC's Share | 26

Group Management Report | 30

Consolidated Financial Statements | 136

Responsibility Statement | 216

Independent Auditors' Report | 217

Assurance Report of the Independent German Public Auditor | 224

STRATEC GROUP AT A GLANCE

GROUP KEY FIGURES

Sales, earnings, and dividend

	2025^{1}	2024	Change
Sales (in € thousand)	250,863	257,624	-2.6%
(cc: -1.1%)
Gross R&D expenses (in € thousand)	62,952	55,405	+13.6%
Gross R&D expenses as % of sales	25.1	21.5	+360 bps
Adjusted EBITDA (in € thousand)	40,645	49,214	-17.4%
Adjusted EBITDA as % of sales	16.2	19.1	-290 bps
Adjusted EBIT (in € thousand)	25,166	33,459	-24.8%
Adjusted EBIT as % of sales	10.0	13.0	-300 bps
Adjusted consolidated net income (in € thousand)	14,218	20,496	-30.6%
Adjusted basic earnings per share (in €)	1.17	1.69	-30.8%
Basic earnings per share IFRS (in €)	-0.02	1.32	n/a
Dividend per share (in €)	0.60^{2}	0.60	+0.0%

1 For comparison purposes, the adjusted figures for 2025 have been adjusted to exclude amortization from purchase price allocations in the context of acquisitions, as well as for impairments of intangible assets, write-downs of inventories, and other one-off items (including consulting expenses, fees, and reorganization expenses).
2 Subject to approval by the Annual General Meeting on June 23, 2026.

bps = basis points

cc = at constant-currency

Balance sheet

	12.31.2025	12.31.2024	Change
Shareholders' equity (in € thousand)	237,320	242,533	-2.1%
Total assets (in € thousand)	425,986	445,058	-4.3%
Equity ratio (in %)	55.7	54.5	+120 bps

bps = basis points

Sales by operating division 2025

41.3%

Service parts and consumables (€103,560k)

34.6%

Systems (€86,727k)

SALES 100% (€250,863k)

Locations of the STRATEC Group

STRATEC SE

Birkenfeld / Germany

STRATEC Biomedical

(Taicang) Co., Ltd.

Jongsu / China

Diatron MI APAC

Pvt. Ltd.

Delhi / India

STRATEC Switzerland AG

Beringen / Switzerland

STRATEC Consumables GmbH

Salzburg / Austria

LETTER FROM THE BOARD OF MANAGEMENT

DEAR SHAREHOLDERS,
DEAR PARTNERS AND FRIENDS OF STRATEC,

For the STRATEC Group, the 2025 financial year was again characterized by a challenging market climate. Geopolitical tensions and associated restrictive and volatile trade policies led to changeable order behavior on the part of our customers and to specific uncertainties in the supply of input materials. Despite these demanding conditions, we managed to maintain an almost stable level of sales. Thanks to consistent cost management and the ongoing optimization of our internal processes, we achieved the target set at the beginning of the year for our adjusted EBIT margin. This way, we again documented the resilience of our business model and asserted ourselves very well compared with our direct competitors.

Even though the market climate remains volatile, the structural, long-term growth drivers in our sector are still intact. In particular, demographic developments, technological advances, and the ongoing trend towards outsourcing in-vitro diagnostics automation solutions harbor attractive growth opportunities for our sector, and for STRATEC in particular. We are convinced that, given its reputation and broad technology pool, STRATEC is superbly positioned to sustainably benefit from these developments. Following strong growth between 2019 and 2021 and the subsequent period of sales remaining more or less stable, we now see STRATEC at the beginning of a new growth phase thanks to its young product portfolio, its robust modernization and substitution business, and numerous forthcoming product launches.

Given highly robust demand in the immunodiagnostics and immunohematology businesses, we are optimistic that we will return to our growth trajectory in 2026 already. For the coming financial year, we therefore expect our constant-currency consolidated sales to show growth in a medium to high single-digit percentage range. We are also confident that we will be able to cushion the rise in input costs resulting not least from adverse geopolitical effects by implementing efficiency measures and consistently managing our costs. This way, we will be able to maintain a stable EBIT margin for the 2026 financial year viewed as a whole.

The renewed willingness of our customers to reach decisions, particularly concerning system developments and lifecycle transfers, is reflected in a consistently high

number of new contract negotiations, many of which already at very advanced stages. Demand for cybersecurity software solutions is also rising consistently.

We are pleased to propose the distribution of a dividend of € 0.60 per share for approval by our shareholders (previous year: € 0.60 per share). In light of our positive long-term business prospects, we would like to enable you, our shareholders, to participate in the company's success.

We owe our sincere thanks to our shareholders, customers, employees, and partners for the trust they have placed in us and for their continued support. Driven by confidence and commitment, we will successfully shape and develop the STRATEC Group in future as well.

Kind regards,

Birkenfeld, April 2026

The Board of Management of STRATEC SE

Marcus Wolfinger

Dr. Claus Vielsack

Dr. Georg Bauer

Marcus Wolfinger (58)
Chairman of the Board of Management

Tanja Bücherl (38)
Member of the Board of Management, Finance

Dr. Claus Vielsack (58)
Member of the Board of Management, Product Development

Dr. Georg Bauer (53)
Member of the Board of Management, Sales

REPORT OF THE SUPERVISORY BOARD

Dear Shareholders,

For a company with highly complex products and internationally aligned value and supply chains, the 2025 financial year was, from the perspective of the Supervisory Board, characterized by additional challenges affecting both supplies and sales. These resulted from factors including geopolitical tensions and the resultant uncertainties in global markets. Against this backdrop, the level of sales achieved by the company fell short of the target originally formulated by the Board of Management. However, the Supervisory Board views the achievement of the margin corridor (adjusted EBIT margin), albeit it only at the lower end, as demonstrating the resilience of the company's business model and the effectiveness of the measures it has taken to manage earnings and costs. Taking due account of the challenging geopolitical situation and the sector-specific framework, as well as of the associated implications for the business model of the STRATEC Group, the Supervisory Board therefore views the overall results achieved by the company as satisfactory. Considering the measures initiated to manage earnings and costs, the Supervisory Board assesses the company's overall situation as positive, a conclusion attributable not least to the large number of development cooperations currently underway to develop new products.

Supervision and advice in dialog with the Board of Management

In the 2025 financial year, the Supervisory Board of STRATEC SE again dealt closely with the company's situation and its perspectives. It regularly advised the Board of Management in its management of the company and monitored its business management carefully and continuously. The Supervisory Board performed the duties required by law, the Articles of Association, and its Code of Procedure at all times in full awareness of its responsibility. In this, it also took due account of the recommendations of the German Corporate Governance Code. The Supervisory Board was directly involved in all decisions or measures of fundamental significance, particularly those involving corporate strategy, group-related matters, and the asset, financial, and earnings position of the company and the Group, as well as those transactions requiring approval by the Supervisory Board. The Board of Management provided the Supervisory Board with regular, timely, and comprehensive written and oral information concerning all issues of relevance to the company.

Meetings of the Supervisory Board and its committees

The meetings of the Supervisory Board, its permanent Audit Committee, and its Remuneration Committee were held in person, as hybrid meetings, or as video or telephone conferences in the 2025 financial year. The Supervisory Board currently does not have any other permanent committees. Individual members of the Board of Management were also available to Supervisory Board members outside the meeting framework to hold one-to-one discussions on specialist topics. The Supervisory Board also regularly held meetings at which the Board of Management was temporarily absent. At these meetings, it addressed agenda items relating either to the Board of Management itself or to internal Supervisory Board matters. Supervisory Board members who are not members of the respective committees also drew on the possibility of attending committee meetings as guests.

Meeting form and individual meeting attendance by members of the Supervisory Board, the Audit Committee, and the Remuneration Committee

	In-person meeting	Hybrid-meeting	Video or telephone conference	Total meetings
Supervisory Board meeting	2	5	2	9
Audit Committee	0	4	4	8
Remuneration Committee	1	3	0	4

With one exception, all members of the Supervisory Board attended all meetings and committee meetings. Dr. Vornhagen was unable to attend one hybrid meeting of the Supervisory Board but, consistent with the Articles of Association, participated in voting by exercising his proxy rights and having his written votes submitted by the Supervisory Board Chair.

Activities and key focuses of discussion of full Supervisory Board

Nine meetings took place in the year under report. Two meetings were held in person, five as hybrid meetings, and two by way of video or telephone conference. Furthermore, several resolutions were adopted in writing by circulating the respective documents ("written resolutions").

Matters regularly discussed at the meetings on April 22, 2025, September 24, 2025, and December 8, 2025 included risk reporting, sustainability topics, the company's sales and earnings performance, its financial situation and planning, developments in inventories and procurement, the status of individual development projects and of the company's negotiations for major contracts, and the M&A strategy pursued by the Board of Management to supplement the company's organic growth. Further topical focuses involved discussions on the business performance of subsidiaries, the company's organizational structure and the development in its human resources, as well as the implications of new legislative requirements. The topic of structural further developments to the risk management system was addressed at the meeting on May 23, 2025.

Upon the expiry of the deadline for achieving the targets set for the share of women in the Supervisory Board and the Board of Management, at its meeting on February 10, 2025 the Supervisory Board set corresponding targets for a subsequent period. It also decided to commission external consultants to support the company in analyzing further efficiency potential.

Prof. Dr. Georg Heni (68)
Chairman of the
Supervisory Board

Dr. Frank Hiller (59)
Deputy Chairman of
the Supervisory Board

Dr. Patricia Geller (59)
Member of the
Supervisory Board

Ralf Leistner (51)
Member of the
Supervisory Board

Dr. Rolf Vornhagen (72)
Member of the
Supervisory Boards

REPORT OF THE SUPERVISORY BOARD

With regard to debt financing facilities due to mature, the Supervisory Board was informed about various refinancing options and their respective advantages and disadvantages. Following discussions within the Supervisory Board, on March 4, 2025 the Board of Management was commissioned by way of a written resolution to negotiate long-term syndicated financing. In a written resolution initiated on August 21, 2025, the Supervisory Board approved the resultant transaction requiring its approval, namely the conclusion and take-up of the syndicated loan discussed at several meetings and presented in detail by the Board of Management.

At the Supervisory Board meeting on March 19, 2025, the Board of Management held a several-hour strategy workshop to present the company's medium-term future development by reference to various topical areas. Furthermore, at this meeting the Supervisory Board accepted the findings and recommendations of the Remuneration Committee and in particular adopted the target achievement and further variable remuneration components of the respective members of the Board of Management for the bonus payment for the 2024 financial year in accordance with their individual supplementary agreements (medium-term remuneration agreement, MTR) and adopted a corresponding written resolution. The targets thereby agreed also include sustainability-related targets.

As well as addressing recurring topical focuses, at its meeting on April 22, 2025 the Supervisory Board was informed about the current status of the annual financial statements. In addition, the draft version thus far compiled for the individual targets for members of the Board of Management for the medium-term remuneration agreement (MTR) for 2025 was circulated at the meeting.

At its meeting on May 12, 2025, the Supervisory Board stipulated the resolutions to be proposed for approval by the Annual General Meeting and approved the appropriation of profit for the 2024 financial year. The Report of the Supervisory Board was also approved for publication. In a subsequent written resolution, the Supervisory Board approved the proposal submitted by the Board of Management that the forthcoming Annual General Meeting should again be held on a virtual basis in accordance with the details thereby presented.

Following detailed discussion and preparation at several meetings of the Audit Committee, at its meeting on May 16, 2025 the Supervisory Board approved the annual financial statements, management report, consolidated financial statements, and group management report of STRATEC SE for the 2024 financial year. Moreover, at this meeting the Supervisory Board decided to endorse the recommendation submitted by the Audit Committee and to propose to the Annual General Meeting that PricewaterhouseCoopers GmbH Wirtschaftsprüfungs-gesellschaft, Frankfurt am Main, should be elected as auditor and group auditor for the 2025 financial year and the audit of the 2025 annual financial statements. By written resolution adopted on May 16, 2025 the Supervisory Board agreed that an amended remuneration system for the Board of Management should be submitted for approval by the Annual General Meeting in June 2025.

At the Supervisory Board meeting held on May 23, 2025, the Board of Management provided an extensive overview of the market and competitive situation, also with regard to US tariff policies and the company's project pipeline. Building on the strategy workshop held in March 2025, this meeting also dealt with STRATEC's M&A strategy as a core component of its growth strategy, as well as with the topics of IT, cybersecurity, and AI. In addition, the findings of the analysis performed by external consultants to leverage further efficiency potential were presented and the next steps determined.

Moreover, preparatory discussions were held with regard to setting the individual targets for members of the Board of Management for the medium-term remuneration agreement (MTR) for the 2025 financial year.

Building on a process which began in February 2025 with the compilation of a profile for a future CFO and continued with the selection of a consultancy to support the recruiting process in March 2025, a pre-selection process for potential candidates in April 2025, and in-person interviews and professional assessments with the final candidates in May 2025, on June 17, 2025 the Supervisory Board adopted a written resolution to appoint Tanja Bücherl to the Board of Management as the company's Chief Financial Officer.

As well as addressing recurring focus topics, at its meeting on September 24, 2025 the Supervisory Board was informed about relevant human resources topics in the management level below the Board of Management. The on-boarding process underway for the new CFO Tanja Bücherl, who was due to join the company in November 2025, was also discussed. In addition, the Supervisory Board approved the application to extend the current business allocation plan, in particular for the area of Operations, through to the end of 2026.

At various meetings and in one-to-one discussions, the Supervisory Board and Board of Management exchanged opinions on the individual targets for the medium-term remuneration agreement (MTR) for the 2025 financial year, as well as on the discretionary component and the appreciation bonus (now: appropriateness bonus). On this basis, the Supervisory Board approved the respective stipulations on September 24, 2025.

At its meeting on November 17, 2025, the Supervisory Board addressing recurring topical focuses and also discussed its meeting schedule and the financial and reporting calendar for 2026.

As well as dealing with regular focus topics, at its meeting on December 8, 2025 the Supervisory Board received a presentation by the Board of Management

of the 2026 budget. The Supervisory Board recommended that the budget should be subject to a sensitivity review and subsequently submitted. In its risk reporting, the Board of Management reported on the status of measures taken to further develop the risk management system. Furthermore, the Board of Management provided the Supervisory Board with a brief overview of the target achievement status for the medium-term remuneration agreement (MTR) and the appropriateness bonus. Moreover, the competence profile was amended to account for the extension in the Supervisory Board to include Ralf Leistner. In the run-up to the December meeting, the Supervisory Board conducted an internal self-assessment (efficiency review) based on a structured catalog of questions. Evaluation of the results showed that the activities of the Supervisory Board are in all respects efficient.

German Corporate Governance Code

The Supervisory Board approved the Corporate Governance Statement by written resolution on April 14, 2025. Furthermore, at the Supervisory Board meeting held on December 8, 2025, the Supervisory Board and Board of Management renewed the Declaration of Compliance pursuant to § 161 of the German Stock Corporation Act (AktG). Both documents were made permanently available to shareholders on the company's website at www.stratec.com > Company > Investors > Corporate Governance.

Activities and key focuses in committees

The Audit Committee held eight meetings in the 2025 financial year. Of these, four meetings were held in hybrid form and four as video or telephone conferences. All committee members participated in all committee meetings.

At its meetings on January 8, 2025, February 25, 2025, March 29, 2025, April 14, 2025, April 24, 2025, and May 12, 2025, the Audit Committee focused on matters relating to the processes, schedule, and respective status of the audit work and the audit findings to date. With the exception of March 29, 2025, all these meetings were attended by representatives of the auditor.

REPORT OF THE SUPERVISORY BOARD

At its meeting on May 16, 2025, the Audit Committee recommended that the full Supervisory Board should adopt the 2024 annual financial statements and approve the 2024 consolidated financial statements.

Based on analysis jointly performed with the auditor, STRATEC made an adjustment in accordance with IAS 8 (Accounting Policies, Changes in Accounting Estimates and Errors) to the accounting method used to recognize development cooperations in the consolidated financial statements. Due to the increased auditing input resulting from the change of auditors (initial audit) and additional time required to implement the aforementioned accounting method, which affected numerous aspects of the company's core accounting, the 2024 Annual Report was published on May 19, 2025, and thus later than originally planned.

At its meeting on August 18, 2025, the Audit Committee discussed the half-year financial report.

The Remuneration Committee held four meetings in the 2025 financial year. One meeting was held in person, while three took place in hybrid form. All committee members attended all meetings of the committee.

At its meeting on January 8, 2025, the Remuneration Committee discussed matters relating to the Board of Management and recommended that the Supervisory Board should extend the appointment of Dr. Georg Bauer to the Board of Management.

On February 10, 2025, the Remuneration Committee discussed the structure of the current remuneration system for the Board of Management which, following specific amendments, was submitted for approval to the Annual General Meeting in June 2025. The structure of the short-term variable remuneration (bonus) was simplified, while the sustainability aspect within long-term variable remuneration (stock awards) was reinforced. Furthermore, relevant criteria intended to enhance transparency were objectively defined. Moreover, at this meeting the Global Head of Human Resources provided a presentation, focusing in particular

on employee development and the employee turnover rate, on human resources capacities within the STRATEC Group, and on current management development programs.

At its meetings on February 10, 2025 and March 19, 2025, the Remuneration Committee prepared resolutions to be adopted by the Supervisory Board with regard to setting targets for variable remuneration, reviewing target achievement, and determining and reviewing the appropriateness of remuneration for the Board of Management.

At its meeting on November 17, 2025, the Remuneration Committee again addressed the remuneration system for the Board of Management. A renowned consulting company reviewed the existing remuneration system in terms of its transparency, market conformity compared with other listed companies, and its compliance with the German Corporate Governance Code and determined that a new remuneration system should be developed. These findings were discussed and a decision taken to develop this new approach, which is already being actively addressed.

The tasks and responsibilities of the Audit and Remuneration Committees are detailed in the respective Codes of Procedure, which are published on the company's website.

Training and development measures

The company provides appropriate support to Supervisory Board members when they assume their positions and in the training and development measures required for their tasks, which they perform under their own responsibility.

Review of potential conflicts of interest and independence of Supervisory Board members

One important aspect of good corporate governance is the independence of Supervisory Board members and the absence of any conflicts of interest on their part. The Supervisory Board bases its assessment of its members' independence on the recommendations made by the German Corporate Governance Code and the additional criteria for assessing the independence of Supervisory Board members laid down in the competence profile for the Supervisory Board. No conflicts of interest requiring immediate disclosure to the Supervisory Board and immediate notification of the Annual General Meeting arose among members of the Board of Management or the Supervisory Board. No material transactions were performed with any member of the Board of Management or with any person or company closely related to such. Based on the Supervisory Board's assessment, all five of its members, and thus all three members of the Audit Committee and all three members of the Remuneration Committee, are currently to be viewed as independent. Further information about this can be found in the Corporate Governance Statement.

Change in composition of Board of Management and Supervisory Board

By written resolution dated January 8, 2025, the Supervisory Board extended the appointment to the Board of Management of Dr. Georg Bauer, who is responsible for Sales, through to December 31, 2030.

Following various preliminary discussions, by written resolution dated June 17, 2025 the Supervisory Board appointed Tanja Bücherl to the Board of Management as Chief Financial Officer as of January 1, 2026. To account her being available from an earlier date, by written resolution dated October 30, 2025 the Supervisory Board appointed Tanja Bücherl to the Board of Management for a three-year term as of November 1, 2025. Tanja Bücherl will strengthen the existing team of Marcus Wolfinger, Dr. Claus Vielsack, and Dr. Georg Bauer in the Board of Management, which now again comprises four members.

In connection with the elections to the Supervisory Board, the Supervisory Board proposed Ralf Leistner for election by the Annual General Meeting on June 27, 2025. He was subsequently elected subject to the condition precedent that the amendment to the Articles of Association adopted by the Annual General Meeting in order to enlarge the Supervisory Board from four to five members should first be entered in the Commercial Register. The amendment to the Articles of Association was entered in the Commercial Register on August 21, 2025. In a structured on-boarding process, the company provided Ralf Leistner with targeted support in preparing for his new duties. A software engineer, he now supplements the Supervisory Board competence profile with his expertise in the fields of IT, cybersecurity, and AI.

At its constitutive meeting, from its members the Supervisory Board again elected Prof. Dr. Georg Heni as Supervisory Board Chair and Dr. Frank Hiller as Deputy Chair. The other members of the Supervisory Board are Dr. Patricia Geller, Dr. Rolf Vornhagen, and Ralf Leistner.

Furthermore, the members of the two committees also required renewed election. The following members were elected to the Audit Committee: Dr. Frank Hiller (Chair), Prof. Dr. Georg Heni, and Dr. Patricia Geller. The following members were elected to the Remuneration Committee: Prof. Dr. Georg Heni (Chair), Dr. Frank Hiller, and Dr. Patricia Geller.

The elections were conducted by written resolution dated August 21, 2025.

Audit of annual and consolidated financial statements; audit of non-financial group declaration as of December 31, 2025

Consistent with the proposal submitted by the Supervisory Board, the Annual General Meeting on June 27, 2025 elected PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft, Frankfurt am Main, as auditor and group auditor for the 2025 financial year.

PricewaterhouseCoopers has audited the annual and consolidated financial statements of STRATEC SE since the 2024 financial year. The auditor responsible for the audit of the 2025 annual and consolidated financial statements is Christiane Lawrenz; her co-signatory is Sylvia Weidinger.

REPORT OF THE SUPERVISORY BOARD

At its meeting on April 24, 2026, the Audit Committee addressed the final version of the annual financial statements and management report, as well as the consolidated financial statements and group management report, together with the non-financial group declaration, of STRATEC SE for the 2025 financial year.

Both sets of financial statements and management reports were audited and provided with unqualified audit opinions by the auditor. Furthermore, in its assessment of the risk management system the auditor confirmed that the Board of Management had taken the measures required by the German Stock Corporation Act (AktG) for the early identification of any risks to the company's continued existence. In addition to the statutory audit of the financial statements, PricewaterhouseCoopers was commissioned by the Supervisory Board to perform a limited assurance audit on the non-financial group declaration, which is a constituent component of the group management report, and, on this basis, did not raise any objections to the reporting in the non-financial group declaration or its compliance with the legal requirements applicable to such. In addition, the 2025 remuneration report was subject to a formal review.

Furthermore, the auditor reported on the impairments totaling € 10.5 million recognized on intangible assets and inventories, which had resulted from the annual impairment tests performed when preparing the consolidated financial statements as of December 31, 2025. The impairments for the 2025 financial year chiefly relate to a delayed market launch and lower sales potential for a product family in the Diatron brand.

Impairment losses totaling € 46,139k were stated in the separate financial statements for the 2025 financial year in connection with the assumption of losses at STRATEC Capital GmbH. Moreover, further write-downs were recognized on financial assets and securities recognized under non-current assets, on shares in STRATEC Biomedical Inc. (€ 6,792k), on shares in STRATEC Capital GmbH (€ 28k), and on loans to STRATEC Capital GmbH (€ 4,957k) and to Natech Plastics, Inc. (€ 5,217k; previous year: € 0k in each case).

The annual financial statements and management report, consolidated financial statements and group management report with the non-financial group declaration, the proposal submitted by the Board of Management in respect of the appropriation of profit, the remuneration report, and the auditor's audit reports were forwarded to all members of the Supervisory Board for their own review. Representatives of the auditor attended the discussion of the annual and consolidated financial statements at the Audit Committee meeting on April 24, 2026 and explained the key audit findings.

The audit of the annual financial statements and management report and of the consolidated financial statements and group management report with the non-financial group declaration and remuneration report of STRATEC SE by the Audit Committee did not result in any objections being raised. Following preparation in the Audit Committee, on April 27, 2026 the Supervisory Board concurred with the findings of the audit conducted by the auditor in accordance with legal requirements and approved the annual financial statements and management report, as well as the consolidated financial statements and group management report. The annual financial statements are thus adopted.

The Supervisory Board endorsed the proposal submitted by the Board of Management in respect of the appropriation of profit. Subject to approval by shareholders at this year's Annual General Meeting, the company plans to distribute a total dividend of € 7.3 million (€ 0.60 per share) to shareholders of STRATEC SE.

In addition, at its meetings in April 2026 the Supervisory Board adopted the Corporate Governance Statement, its proposed resolutions for the agenda items at the 2026 Annual General Meeting, and the Report of the Supervisory Board, as well as approving the remuneration report by written resolution.

Thanks

The Supervisory Board would like to thank the members of the Board of Management and all employees of STRATEC SE and its subsidiaries worldwide for their personal commitment in the 2025 financial year. We would like to thank you, the company's shareholders, very warmly for the trust you again placed in us in the 2025 financial year.

Birkenfeld, April 2026

On behalf of the Supervisory Board

Prof. Dr. Georg Heni
Supervisory Board Chair

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MICROPILLARS REVOLUTIONIZING DIAGNOSTICS AND ENABLING CELL THERAPY

Cells: The Rare Ones Matter

"No matter how we twist and turn, we shall eventually come back to the cell". This quote by Rudolf Virchow (1858) has never been truer: whether in diagnostics or therapy, meaningful biological signals are typically embedded within vast populations of otherwise healthy or unremarkable cells, making their reliable isolation far from trivial.

Blood is an illustrative example of this challenge. Despite this complexity, it has remained one of the most powerful windows into human health for more than a century. For decades, however, accessing this information required drawing relatively large volumes of blood and running multiple separate laboratory tests, even for routine clinical questions. This challenge arises from the inherent complexity and cellular density of blood. The diagnostically relevant content is often extraordinarily scarce: even in late-stage cancer, circulating tumor cells typically only account for ~0.000001% of all blood cells, equivalent to finding a single needle hidden in 100 tons of hay. Extracting rare, valuable information from such a background is not primarily a detection problem; it is fundamentally a separation and concentration problem. One must be able to isolate rare target cells from overwhelming background populations.

Across diagnostics, research, and emerging therapeutic applications, the ability to isolate specific cells from complex biological samples encompasses a critical bottleneck. Traditional separation techniques, such as centrifugation or chemical labeling, are labor-intensive, difficult to automate, and introduce variability or mechanical stress that compromises cell

integrity. Those that do maintain cell viability rely on modifications, such as labeling, binding, or capturing cells, ultimately complicating the possibility for downstream processing. This has driven the development of microfluidic filtering structures that exploit differences in cell size and physical properties through tailored microscopic features inside the micro-channels. As diagnostic assays become more sensitive and as cell-based therapies move toward large-scale therapeutic manufacturing, separation technologies must meet new requirements simultaneously: they must be gentle, high-throughput, reproducible, and, crucially, compatible with automated workflows. Geometrical features that leverage predictable cell behavior in microscopic flow systems achieve just that – and micropillars are a prominent example of scalability and functionality.

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Electron microscopy images of micropillar-like structures – and a human hair at the same scale.

Micropillars: A Simple Geometry Solving a Complex Problem

Micropillars are microscopic, pillar-shaped structures engineered into microfluidic chips. For scale: a human hair is approximately 70 micrometers in diameter, while micropillars are typically only a few micrometers wide and spaced just a few micrometers apart. Though simple in appearance, their precisely defined geometry enables powerful control over how cells move through flowing fluids.

Arranged in carefully designed patterns within microfluidic channels, micropillars translate subtle differences in cell size, shape, and mechanical properties into deterministic separation behavior: smaller and more deformable cells pass through narrow gaps, while larger or stiffer cells are selectively diverted, retained, or redirected, without the need for complex engineering, such as chemical labels, reagents, or external forces. Crucially, the micropillars inherently function as concentrators: by regulating the flow of different cell types, they enable isolation of valuable ones at meaningful concentrations for further processing.

This geometry-driven approach enables passive, label-free separation that is both gentle on cells and inherently scalable. Micropillars operate continuously and in parallel, therefore they form the basis of robust, high-throughput microfluidic "engines" suitable for integration into automated systems.

FROM DIAGNOSTICS TO CELL THERAPY

Many conventional treatments are designed to manage symptoms rather than address the underlying cause of disease. Cell therapy represents a fundamental shift in this approach, aiming to treat disease at its biological source by restoring or replacing dysfunctional cells.

The same challenges encountered in advanced diagnostics (rarity, purity, and robustness) are even more pronounced in cell therapy manufacturing. Cell therapies rely on highly purified populations of functional cells, often derived directly from patient samples. The quality of these starting materials directly impacts therapeutic efficacy, safety, and reproducibility. At this scale, cell therapy manufacturing is a signal-to-noise problem: when the desired cells are buried in a large background of unwanted material, even small inefficiencies in separation will dominate the outcome.

While biological innovation in cell therapy has rapidly progressed, processing workflows have struggled to keep pace, heavily relying on legacy separation methods that are difficult to automate and scale, such as the labor-intensive process of density-based centrifugation. As a result, the spotlight is now on manufacturing and process control, not bioengineering, as the primary constraint on broader adoption of cell-based therapies.

Microstructured microfluidic systems directly address this gap. By enabling gentle, reproducible, and high-throughput cell isolation, they provide a foundation for closed, automated workflows that preserve cell viability and function while meeting industrial manufacturing requirements.

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INNOVATION IN FOCUS WITH OUR PARTNER BENDBIO

BendBio is a prime example of how geometry-driven microfluidic platforms are translated into industrially relevant solutions. Originating from pioneering academic research, their inertial microfluidics "engine" integrates core functions such as cell sorting, washing, and concentration into compact, modular units designed for OEM integration.

The aforementioned laborious workflows are readily replaced by geometry-driven microfluidic processing, all while preserving cell viability and function. Importantly, these systems are designed from the outset for manufacturability and seamless integration into larger diagnostic and therapeutic instruments. Achieving high volumetric throughput in microstructured microfluidic systems is not trivial: it requires deeper structures and intricate microfluidic features. BendBio products have been designed and manufactured to achieve just that, demonstrating high rate processing (at least 5 L/h) while maintaining reliable separation performance. Moreover, the modular stackable design enables scaling the throughput in a predictable manner.

High-throughput cell processing modules from BendBio
UltraSorter

UltraConcentrator

Device Stack

The value of micropillar-based microfluidics ultimately depends on the ability to manufacture these intricate structures reliably and at scale. Since 2011, STRATEC has been actively engaged in the research and product development of microstructured systems for cell separation and concentration. Today, this expertise is reflected in a comprehensive automated manufacturing platform that combines mastering (the fabrication of micro- and nanostructures), high-precision, temperature-variable compression molding, and various bonding and laser welding processes. In this way, STRATEC enables the consistent production of complex microfluidic components. Depending on the end application, the geometrical characteristics of the micro

CELL THERAPY

pillars are optimized and the manufacturing process adapted to deliver the precision required to enable high throughput processing. These manufacturing capabilities ensure the reproducibility, quality, and cost-efficiency required for both diagnostic and therapeutic applications.

By bridging the gap between microfluidic innovation and industrial-scale production, STRATEC enables partners to move beyond prototypes and into commercially viable products, reducing risk, accelerating time-to-market, and supporting long-term scalability.

While cell sorting is certainly a critical application, the possibilities for micropillar-based microfluidic systems are widespread. The underlying separation challenges that are so simply and elegantly addressed through a manufacturing design are still dominating hematology diagnostics, immune profiling, fertility treatments, and other emerging point of care platforms.

STRUCTURED FOR PROGRESS

FROM RARE CELLS TO REAL-WORLD IMPACT

Micropillar-based microfluidic technologies address the seemingly niche occurring at the intersection of diagnostics, manufacturing, and patient impact. By enabling the reliable extraction of rare, valuable cells from complex biological samples, they support earlier diagnosis, more efficient workflows, and scalable production of advanced therapies. However, this niche is becoming more and more a necessity as healthcare continues to move toward automation, personalization, and decentralized testing. Slowly, platforms that combine physical robustness with industrial manufacturability play an ever-increasing defining role.

By industrializing micropillar-based microfluidics, STRATEC enables partners to turn complex cell separation challenges into scalable, recurring commercial products across diagnostics and advanced therapies.

TLOOK IT

ANNUAL REPORT

OF STRATEC SE

STRATEC'S SHARE

Review of 2025 on the stock markets

Driven by a further reduction in inflation rates, initial steps by key central banks to cut interest rates, and predominantly robust corporate earnings, stock markets continued their positive performance in 2025. Global economic growth may have remained moderate and the macroeconomic situation in Europe, and Germany in particular, subdued, but stock markets again chose to disregard short-term negative factors. Alongside the ongoing dominant topic of artificial intelligence, investors increasingly focused on infrastructure investments, defense, and the energy transition.

Periods of volatility arose in the course of the year, with geopolitical tensions, uncertainties surrounding international trade relationships, and political risks repeatedly undermining market confidence. At times, the discussions surrounding possible "higher for longer" interest rate policies and concerns as to global economic growth led to increased volatility and temporary dips in stock prices, particularly in cyclical and growth-oriented sectors.

Against this backdrop, German stock markets showed a favorable overall performance in 2025, albeit with disparities between indices. While the DAX, MDAX, and SDAX posted clearly double-digit price gains during the year, the TecDAX reported a slightly more subdued performance with moderate single-digit gains.

Listing, stock market turnover, and index membership

STRATEC's shares are listed in the Regulated Market of the Frankfurt Stock Exchange (marketplaces: Xetra and Frankfurt) and meet the transparency requirements of the Prime Standard. Its shares are also traded on regional stock markets in Berlin, Düsseldorf, Hamburg, Hanover, Munich, and Stuttgart, as well as on Tradegate, the electronic over-the-counter trading system at the Tradegate Exchange.

Measured in terms of simple order book turnover, STRATEC shares worth € 136.3 million changed hands on the above marketplaces (excluding Tradegate) in 2025 (previous year: € 79.7 million). The Xetra and Frankfurt marketplaces accounted for 78.9% of these volumes (previous year: 84.5%).

The company's shares also witness brisk trading on multilateral trading systems, which are gaining increasing market share from the regulated marketplaces with which they compete. A multilateral trading system is a market-like trading platform set up and operated by a financial services provider, securities companies, or market operator. This kind of system brings together buy and sell orders for shares and other financial instruments in accordance with specific regulations and thus generates contract agreements.

Trading data for STRATEC's share (status: December 31)

	2025	2024	2023	2022	2021
Year-end price previous year (€)	29.80	45.55	81.10	137.80	122.80
Annual low (€)	19.58	26.05	36.00	72.70	100.40
Annual high (€)	37.40	48.60	93.00	138.60	147.40
Year-end price (€)	22.45	29.80	45.55	81.10	137.80
Performance (%)	-24.7	-34.6	-43.8	-41.1	+12.2
Market capitalization (€ million)	272.9	362.3	553.8	986.0	1,671.2
Trading volumes (€ million)	136.3	79.7	141.7	318.9	379.7
Average daily trading volume (€)	538,707	313,783	555,652	1,240,704	1,489,029
Average daily trading volume (number of shares)	20,334	7,907	9,916	12,260	12,041

STRATEC's Annual General Meeting approves all agenda items

On June 27, 2025, STRATEC's Board of Management and Supervisory Board welcomed the company's shareholders to the Annual General Meeting which, as in previous years already, was held on a virtual basis.

All of the agenda items submitted for resolution were approved by shareholders with clear majorities. Overall, 71.9% of the company's registered share capital was represented at the virtual Annual General Meeting.

As proposed, STRATEC enabled its shareholders to participate in the company's performance by distributing a dividend of € 0.60 for the past 2024 financial year (previous year's dividend: € 0.55 per share). The distribution total therefore amounted to € 7.3 million. Shareholders approved the actions of the Board of Management and the Supervisory Board and elected PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (PwC), Frankfurt am Main, as auditor for the 2025 financial year. By resolution of the Annual General Meeting, the Supervisory Board of STRATEC SE was extended from four to five members and Ralf Leistner was elected to this body. Furthermore, the remuneration report for the 2024 financial year was also submitted to and approved by the Annual General Meeting. Moreover, the remuneration system for members of the Board of Management was approved. The Annual General Meeting also once again approved authorized and conditional capital and the authorization to acquire and dispose of treasury stocks.

Further information about the Annual General Meeting, including information about the other agenda items, can be found at www.stratec.com/agm, where the detailed voting results are also published.

The next Annual General Meeting is expected to be held at CongressCentrum Pforzheim on June 23, 2026.

Proposed dividend for the 2025 financial year

The Supervisory Board and Board of Management of STRATEC will propose the distribution of a dividend of € 0.60 per share for the 2025 financial year for approval by the Annual General Meeting on June 23, 2026 (previous year: € 0.60 per share). This distribution reflects our positive business performance and our efforts to offer an attractive return to our shareholders.

Based on the closing price of € 22.45 for STRATEC's share on December 30, 2025, the distribution total of € 7.3 million (€ 0.60 per share) corresponds to a dividend yield of 2.7%.

STRATEC'S SHARE

Shareholder structure remains stable

The largest shareholder in the company is still the family of its founder, Hermann Leistner, who together with their investment companies hold a combined stake of 40.40%. A further 0.02% of the shares are held by the company itself, while 59.58% are attributable to large numbers of retail and institutional investors both in Germany and abroad. Institutional investors holding at least 3% of the voting rights are:

Brown Capital Management, LLC, Baltimore, Maryland, US, with 5.01%,
JPMorgan Chase & Co., Wilmington, Delaware, US, with 0.92% (incl. instruments 4.38%),
Juno Investment Partners B.V., The Hague, Netherlands, with 3.02%,
Morgan Stanley, Wilmington, Delaware, US, with 5.09% (incl. instruments 5.16%)¹, and
Aalap Mahadevia (Briarwood Capital Partners LP, US), with 5.09%

Further information about STRATEC's share

ISIN	DE000STRASSS
WKN	STRASS
Ticker	SBS
Reuters Instrument Code	SBSG.DE
Bloomberg Ticker	SBS:GR
Segment	Prime Standard
Market	Regulated Market
Share type and class	No-par registered ordinary shares
Share capital (€)	12,157,841
Share capital (number of shares)	12,157,841
Initial listing	August 25, 1998
Marketplaces	Xetra; Frankfurt and further regional stock exchanges in Germany
Designated sponsors	Hauck Aufhäuser Lampe Privatbank AG (until 12.31.2025)
Baader Bank AG (since 01.01.2026)

Key figures for STRATEC's share (status: December 31)

	2025	2024	2023	2022	2021
Number of shares issued (million)	12.2	12.2	12.2	12.1	12.1
Number of shares with dividend entitlement (million)	12.2	12.2	12.2	12.1	12.1
Cash dividend per share (€)	0.60¹	0.60	0.55	0.97	0.95
Total distribution (€ million)	7.3¹	7.3	6.7	11.8	11.5
Dividend yield (%)	2.7¹	2.0	1.2	1.2	0.7

¹ Subject to approval by the Annual General Meeting

This notification was triggered due to the purchase of customer securities for which Morgan Stanley & Co. LLC has utilization rights

Investor relations

STRATEC maintains an ongoing dialog with existing and potential investors, analysts, and business and financial journalists. When communicating with market participants, the company adheres to the principle that all information should be provided simultaneously, openly, and transparently. With its active and ongoing reporting, it aims to enable all capital market players to form their own realistic assessment of the company's performance. The financial calendar keeps interested parties regularly informed about important dates with sufficient advance notice.

Financial calendar

04.28.2026	Annual Financial Report 2025
05.11.2026	Quarterly Statement QI
06.23.2026	Annual General Meeting
08.14.2026	Half-year Financial Report HI
11.12.2026	Quarterly Statement 9M
11.24.2026	German Equity Forum
(Analyst conference)

Subject to amendment

Furthermore, we also regularly inform capital market participants about the company's strategic development and business performance by publishing financial reports, ad-hoc announcements, and press releases.

One core component of STRATEC's investor relations activities involves holding conference calls upon the publication of results and occurrence of other major events at the company. These calls are also transmitted via the company's website. As well as holding numerous one-to-one talks, at capital market conferences the company gives presentations and thus informs investors and analysts from Germany and abroad about its current situation and business performance. At present, a total of seven institutions regularly cover STRATEC in extensive studies and brief analyses: Berenberg Bank, Deutsche Bank, DZ Bank, Kepler Cheuvreux, Metzler Capital Markets, mwb research, and ODDO BHF.

The latest information about STRATEC and its share can be found on the company's website at www.stratec.com.

GROUP MANAGEMENT REPORT

FOR THE 2025 FINANCIAL YEAR OF STRATEC SE

C. Outlook | 49

D. Opportunities and Risks | 50
- Opportunities | 50
- Risks | 51
- Risk management system | 58

E. Takeover-relevant Disclosures | 62

F. (Group) Corporate Governance Statement | 65

GROUP MANAGEMENT REPORT

A. THE STRATEC GROUP

Business model and strategy

Basic features of business model

STRATEC (hereinafter also "the STRATEC Group") designs and manufactures automation solutions for highly regulated laboratory markets. STRATEC acts as an OEM partner to leading players in the in-vitro diagnostics and life sciences markets. The Group's product range includes both hardware solutions, software solutions, and related consumables, as well as independently marketed consumables. These products are mostly combined into fully integrated system solutions and often receive market approval together with partners' reagents.

STRATEC's partners predominantly operate in markets in which a relatively small number of companies determine industry trends and developments. This being so, it is crucial for STRATEC to position itself as a partner to these global players and to gain their trust with its reliability and performance. The experience, expertise, and power of development STRATEC has built up since its foundation in 1979 have enabled it to grow into a major player in various market niches. STRATEC aims to further boost this position, to act as a one-stop source of innovative solutions for its partners, and enable all parties involved to generate growth rates sustainably ahead of the industry average by offering a well-calibrated mix of cost efficiency, expertise, and innovation.

STRATEC's core competence involves compiling and implementing concepts and requirements in the automation and instrumentation of biochemical processes using hardware and software solutions. STRATEC also has comprehensive knowledge of quality and documentation requirements, particularly for the approval of medical technology solutions by the relevant national and international authorities. STRATEC accompanies its customers in an advisory capacity from the very outset. Drawing on its longstanding experience, it offers valuable tips when it comes to compiling specifications and determining suitable system alignments. These include tips on user-friendliness, a factor which promotes acceptance of the resultant system among end customers. Due to its existing technology pool and its experience in the approval process, STRATEC is also able to shorten the development times for its partners.

STRATEC's primary objective here is to be able to react across all areas of the company to customers' requirements in an efficient and coordinated manner. This way, it aims to offer those solutions and products from all the areas of activity and specialisms available at the Group that customers need to meet their respective market requirements. Over the years, STRATEC has built up targeted expertise and technologies in those areas that are viewed as forming the basis for further growth and new developments in the fields of diagnostics and life sciences.

Even though the instrumentation comes from STRATEC, in virtually all cases it is the OEM partner's brand name that is displayed on the systems themselves. While the specifications are in most cases jointly defined by the partners, the development stage is characterized by parallel development processes. During this time, STRATEC focuses on developing the automation solution, the corresponding software, often highly complex consumables and quality management, as well as on preparing system approval. New

market requirements, such as connectivity, cybersecurity, or complex consumables, form a key basis for STRATEC's permanently evolving technology portfolio. This means that customers can focus all their energies on developing their reagent menus, as well as on their market expertise, access to end customers, and support measures. Throughout the development stage, however, the various activities often running in parallel have to be closely coordinated. Soon after the first prototypes are complete, work already begins on integrating the reagents into the automation process. This complex process, which is performed with close cooperation between the two partners, is one of the key foundations for the functionality of the resultant systems.

One key success factor for the STRATEC Group involves providing its customers with the solutions they need in the fields of automation and software development for them to implement their own objectives. Alongside patents and internally developed technologies, it is the company's wide variety of expertise in different scientific and technological disciplines that offers the basis for the shared success it aims to achieve with its partners. STRATEC can look back on more than 40 years of development and production activity. Equally relevant to the subsequent success of jointly developed products is the in-depth understanding which STRATEC's partners have of end customers' requirements and thus of the market, as are the measures they take with their own service and sales activities to ensure suitably prepared market access. In view of this, STRATEC focuses on business-to-business and OEM relationships and does not maintain any significant proprietary sales network to its end customers. The product specialists at STRATEC's partners are individually supported in their activities. This particularly takes the form of training, but in exceptional cases also involves providing specific services on location.

When it comes to developing instrumentation solutions, a basic distinction can be made between two approaches towards cooperating with partners:

Partnering Business

In its partnering business, STRATEC works together with the respective partner from a very early stage of planning to jointly define specifications for a new analyzer system. The cooperation is very close throughout the entire development phase. STRATEC is responsible for developing the hardware, software, and often the consumables as well. It draws here on its constantly growing pool of proprietary technologies, patents, rights, and know-how. This way, the development work is faster and more cost-effective, and it involves fewer risks. In close cooperation with the partner, the reagents menu is integrated into the automation processes and consumables utilization. As soon as the system and, if applicable, the smart consumable have been fully developed and approved by the regulatory authorities together with the reagents and software package, they are launched onto the market and serial production begins. In this stage, the partner focuses on marketing and selling the product to end customers, generally clinical laboratories, blood banks, and research institutes, as well as on offering follow-up customer support and other services. STRATEC provides an ongoing supply of maintenance, service parts, and consumables. It also holds discussions with the customer concerning ongoing improvements to, further developments in, and measures to safeguard adequate product lifecycle management for the system, particularly with regard to software applications, user-friendliness, and activities to extend the reagents menu.

Platform development

A STRATEC platform is a system developed internally by the company. It is not designed in cooperation with a specific partner but, given its general design scheme, is suitable for marketing to several customers. This merely involves adapting the platform to the specific requirements of customer reagents and corporate design schemes. Often offered under STRATEC's brand as part of the STRATEC hybrid OEM business model, these platforms are particularly suited to partners aiming to enter a market very rapidly – and thus draw on a platform solution – or who on account of their size and market access are not yet able to place the volume of systems needed to amortize the high level of development expenses. STRATEC chiefly develops such platforms for areas with potential for generating multiplier effects. Further major factors in this platform development include the need to present the company as a technology driver, to establish and stabilize innovations, and to develop those intellectual and industrial property rights that are crucially important to STRATEC's business model.

STRATEC has supplemented its activities with traditional instrumentation solutions in the medium to upper throughput ranges by establishing itself as a provider of analyzer systems, system components, consumables, and tests in the lower throughput segment. These are suitable for use in both human and veterinary diagnostics.

Furthermore, STRATEC is active in the field of polymer-based “intelligent” consumables, referred to as “smart consumables”. Within in-vitro diagnostics, smart consumables include polymer chips and single-molecule arrays in the field of microfluids. This area represents a key component of STRATEC's technology and product spectrum and has extended the company's product range to include an important part of the value chain. This reduces customers' project risks and the associated project supervision input. STRATEC is able to offer substantial added value to its customers, particularly by assuming responsibility across the various interfaces involved.

The change in conventional consumables into complex smart consumables enables various test process steps to be “outsourced” to the consumable in a targeted manner. Where comparatively low numbers of analyses are conducted, for example at decentralized institutitons, this “loss” of process steps makes it possible to significantly reduce the size, complexity, and cost of instruments. That is a crucial factor, particularly for point-of-care applications. Furthermore, by offering greater flexibility it opens up new possibilities to develop test processes.

STRATEC has diverse skills and applications in the fields of nano-structuring and micro-structuring, various coating technologies, polymer science applications, and the automated and industrial production of smart consumables. Consumables are developed in close cooperation with the relevant partners and in line with their requirements for the development of reagents and instrumentation.

Core of corporate strategy

STRATEC's overriding mission is to improve people's quality of life in cooperation with its partners and customers. To achieve this, STRATEC draws on the wealth of expertise it has built up over decades, on its extensive pool of technology, and on its understanding of value-building partnerships in order to develop innovative, tailored solutions for leading companies in in-vitro diagnostics and adjacent markets. Due to not least to their embedding in the company values, sustainability topics such as environmental concerns and social aspects are becoming continually more important for STRATEC, as is also the case at its customers and suppliers.

Strategic objectives

Unlock growth potential of strategic partnerships: STRATEC aims to enable both its customers and the company itself to achieve sustainable growth that exceeds the long-term market average. To achieve this, STRATEC focuses both on forging partnerships with new partners and on deepening existing long-term collaborations with customers.

Leverage and expand total cost of ownership advantage: From a customer perspective, outsourcing automation solutions to highly specialized partners like STRATEC offers significant benefits. These relate both to total cost of ownership and to risk assessment covering the entire lifecycle of a product. STRATEC's goal is to leverage and expand this existing advantage to further increase the value of collaboration for our customers by reducing operational risks and achieving greater cost efficiencies.

Strengthen resilience: STRATEC is making efforts to further enhance the resilience of its business. It therefore aims to diversify its customer base, raise the share of recurring sales, and expand into new markets. By pursuing these approaches, the company intends to further increase the stability and adaptability of its business with regard to market fluctuations.

STRATEC’s strategy covers five dimensions:

Focus on technologically sophisticated and high-growth markets: To meet the growth targets it has formulated and stand out with cutting-edge technologies and high product quality, STRATEC focuses on technologically sophisticated market segments that demonstrate above-average growth rates.

Innovate for added value: To sustain and strengthen its market position in the long term, it is essential for the company to continually expand its technology and product portfolio. By leveraging the extensive market insights gained from long-term relationships with industry leaders, STRATEC aims to ensure that its innovations are perfectly aligned with its customers’ needs and the challenges they face. This customer-centric approach allows the company to consistently generate added value from the customer’s perspective.

Act early to address and interact with partners from an: The aim here is to ensure that STRATEC is early to participate in new developments and able to benefit from upcoming trends in the industry. This is achieved by establishing and expanding a structured approach to facilitate early and consistent interaction with top-tier IVD companies, start-ups, and research organizations and to align development capabilities with their long-term innovation agendas.

Efficiency in operations and development: STRATEC is dedicated to continuous efficiency enhancements focusing on lean and agile operations and development processes. This involves cost savings and process improvements along the whole of the value chain, as well as in production, and development. By deploying cutting-edge technology, the company aims to boost productivity and efficiency. Furthermore, it should be ensured that these improvements translate into competitive products for customers. STRATEC fosters a culture of collective collaboration, in which every team member actively contributes to its success.

Targeted market expansion: STRATEC is looking into new markets in which its core competencies can create competitive advantages and provide synergetic growth with its existing business divisions.

Production and locations

In manufacturing its products, STRATEC has to meet especially strict quality requirements, compliance with which is regularly audited by internal specialists, customers, and external authorities. Analyzer systems are manufactured in accordance with the highest standards at the locations in Beringen (Switzerland), Birkenfeld (Germany), Budapest (Hungary), and, in very limited numbers, in Shanghai (China). The locations in Anif (Austria) and Ronkonkoma (US) manufacture highly complex polymer-based consumables in a controlled production environment. The value chain is closely coordinated within the STRATEC Group, with up-stream and downstream services being drawn on from subsidiaries in numerous products.

The Group’s largest development capacities can be found at its headquarters in Birkenfeld (Germany), in Budapest (Hungary), in Cluj-Napoca (Romania), and, for polymer-based consumables, at the Anif location (Austria).

GROUP MANAGEMENT REPORT

Supply Chain

To enhance flexibility, reduce capital intensity, and optimize its cost structures on a long-term basis, apart from for the production of polymer-based consumables, the targeted production of modules offering benefits in terms of their processes, expertise, or scale, and systems involving small construction space, the STRATEC Group generally works with a low level of vertical integration and often outsources upstream production activities to highly specialized contractual suppliers. For instrumentation production, final assembly and testing generally takes place at STRATEC's locations, with these activities being performed by employees with the highest level of qualification and training. Testing procedures are based on actual subsequent applications.

Working with integrated procurement management, STRATEC purchases the functional modules and individual components from strategic suppliers that stand out on account of their quality and compliance management systems. Integrating these suppliers into an early stage of product development ensures market access to current production methods and procedures in each case. Master agreements provide a commercial framework for these cooperations, with use also being made of state-of-the-art production and logistics strategies.

In many cases, STRATEC supplies the finished analyzer systems directly to the logistics distribution centers of large diagnostics companies, which then market the systems together with the relevant reagents as system solutions under their own names and brands. As the STRATEC Group's customers largely supply their country outlets and customers directly from these distribution centers, the regional sales reported in the STRATEC Group's figures do not correspond to the actual geographical distribution or final destinations of the analyzer systems produced by STRATEC.

Group structure

The STRATEC Group's individual locations address identical target markets. The activities of individual subsidiaries are closely interrelated and in many cases significantly overlap. Beyond this, sales and business development activities for the locations are centralized and managed for all products by the member of the Board of Management responsible for sales. Resource allocation and business activities, including product development and other functional units, are therefore managed centrally for all locations by the Board of Management. STRATEC thus takes the form of a "one-segment company". The parent company STRATEC SE has its legal domicile in Birkenfeld, Germany. It has operative activity fields focusing on the development and manufacture of analyzer systems and also performs and manages administrative and organizational tasks both on its own behalf and on a prorated basis for the group of companies. The targets set for the subsidiaries are agreed with the parent company, with their implementation status and relevant results also regularly reported to the parent company.

Given its size and the dovetailing of its business activities, the STRATEC Group is organized by reference to a matrix organizational structure. In this, business activities are grouped across locations into what is both vertically and horizontally an integrated value chain. The Beringen location (Switzerland) manufactures analyzer systems in the medium to high throughput ranges on which the highly complex polymer-based consumables in the laboratory at the Anif location (Austria) can be deployed. In vertical terms, the manufacturing activities in Beringen in some case draw on input products from the Budapest location (Hungary).

Management of the STRATEC Group

For group management at STRATEC SE, the Board of Management approves the group budget prepared on the basis of an extensive bottom-up planning approach. Heads of department receive clear targets which are derived from this group budget and reflect the results of the bottom-up planning. These targets are monitored and reviewed on the management level below the Board of Management, with local managing directors and heads of department bearing responsibility for achieving the financial and strategic targets. These involve both quantitative and qualitative targets relating to risk management, employee management, customer relationships, and M&A activities. Centralized prioritization and targeted resource deployment promote the effective implementation of these targets.

As well as traditional management figures such as sales, EBIT, EBITDA, liquidity, key figures for development, production, and marketing, and product quality, STRATEC is increasingly focusing on sustainability-related topics such as environmental and social aspects, not least to do justice to its claim of being a reliable partner and an attractive employer as the company continues to grow.

The most important performance indicators referred to in managing the company are sales, the adjusted EBIT margin, and the number of employees. More detailed information about these key management figures can be found in the Business Report and the Outlook.

Market

IVD instrumentation market

In-vitro diagnostics tests are medical applications in which biological samples, such as blood, tissues, secretions, or urine, are analyzed for diagnostic purposes. These tests enable diseases to be swiftly and precisely diagnosed, treated, and monitored, as well as providing diverse further information about patients' health condition. In modern healthcare systems, in-vitro diagnostics processes support a high share of all therapy decisions. In-vitro diagnostics therefore plays a crucial role in patient healthcare.

Overall, the market for in-vitro diagnostics solutions and associated instrumentation is characterized by a large number of different technologies and areas of application, to which reference is often made for market segmentation purposes. STRATEC has focused in particular on instrumentation solutions for the fields of immunodiagnostics (immunoassays), molecular diagnostics, immunohematology, complex sample preparation processes, individual cell analysis, and immunostaining in a wide variety of throughput segments. In addition, it also provides specialist solutions in a low throughput range for clinical chemistry and hematology applications. One increasingly important area on a cross-technology basis is STRATEC's expertise in microfluidic solutions in the form of highly complex polymer-based consumables. One of the benefits of using microfluidic technology is that it often makes it possible to achieve the significantly higher sensitivities required, for example, in areas such as oncology or neurology.

GROUP MANAGEMENT REPORT

IVD market by technologies and application fields

Immunodiagnostics	Analyte detection using antigen antibody reactions
Molecular diagnostics	Includes tests and methods able to detect a disease or susceptibility to a specific disease by investigating nucleic acids (DNA or RNA).
Other technologies and application fields such as immunohematology
Clinical chemistry	Complex, multistage chemical processes intended to find specific substances in a sample and measure their respective shares.
---	---
Hematology	Investigation of cell distribution (blood count) and diagnosis of potential blood diseases.
Other technologies and application fields such as food diagnostics
Microbiology	Cultivation of biological samples in a medium in order to multiply and thus detect and identify any microorganisms present (e.g. bacteria).
---	---
Other technologies and application fields such as blood glucose monitoring

Research and development

STRATEC's expertise is based on the development of innovative technologies that have to satisfy strict regulatory requirements and the requirements of its partners in terms of security, reliability, and user-friendliness. For the development of complex systems and consumables, STRATEC's development teams comprise numerous experts from various areas of activity who are supplemented by developers from our partners. As a general rule, the inter-disciplinary teams of experts draw on employees from various areas of activity. In the field of research, where new technologies, processes, and software solutions are developed, feasibility and market studies are performed or referred to at an early stage already. These enable qualified assessments to be made while at the same time minimizing any associated risks.

Within STRATEC, development activities are based on the following aspects:

Development of new systems for customers and system platform development

STRATEC's growth is largely driven by its constantly growing range of new OEM products. These therefore remain a key focus of development activities. Here, STRATEC can offer an extensive range of technologies and services to its customers.

In its development of new systems, STRATEC distinguishes between platform development and the partnering business. In platform development, STRATEC works in a way similar to the automobile industry by developing a platform or module concept internally and then in the second stage adapting this to individual customer needs. In its partnering business, by contrast, STRATEC works closely with the customer from a very early stage of development and, based on a library concept, develops a system precisely tailored to the customer's needs.

Support for existing systems and product lifecycle management

Strict regulatory requirements and the resultant expense required to obtain approval are leading to longer system lifecycles, which generally amount to well over ten years. To facilitate such long lifecycles for systems on the market, permanent system modernization is required. This factor is accounted for above all in software development and verification activities. This is one of the main reasons for the disproportionate growth in these areas and the associated number of employees within STRATEC's development division.

Development of new technologies

To boost its competitiveness and leading position as an independent system provider, STRATEC not only monitors ongoing changes in its customers' needs in terms of technologies and processes, but also constantly analyzes innovations and developments in the relevant markets. The insights thereby gained are correspondingly factored into the development of new technologies. One key focus here is on gaining early experience with processes resulting from research, and in particular with technologies and processes which harbor potential for routine applications in in-vitro diagnostics.

Development of platform technologies

A further focus of STRATEC's development activities involves further developing and enhancing platform technologies for relevant systems. These form the basis for the continually growing technology pool.

Development of (smart) consumables

In close cooperation with its subsidiaries in Anif (Austria) and Ronkonkoma (US), STRATEC also develops the consumables used with a given analyzer system. This development work is also based on proprietary industrial property rights. The products range from simple consumables through to complex, so-called smart consumables. These complex consumables present part of the test process that is otherwise often performed within the instrument. They may be developed and manufactured together with an analyzer system or on a standalone basis to meet the individual requirements of our partners.

Including temporary employees, a total of 635 employees within the STRATEC Group were allocable to research and development at the balance sheet date on December 31, 2025 (previous year: 652 employees). This corresponds to 45.3% of the total workforce (previous year: 45.0%). This high share underlines the innovative strength and the central importance accorded to research and development in the strategy of the STRATEC Group.

GROUP MANAGEMENT REPORT

B. BUSINESS REPORT

Macroeconomic and sector-specific framework

Macroeconomic framework

Global economic growth remained stable in 2025. In its outlook published in January 2026 (Update to the World Economic Outlook¹), the International Monetary Fund (IMF) predicts 3.3% growth in the global economy, corresponding to the previous year's level. The macroeconomic framework in the year under report was shaped by opposing factors: trade conflicts and structural challenges, such as high volumes of sovereign debt in individual economies, served to hold back global growth. In parallel, growth benefited from dynamic investment in technology and AI-driven sectors, as well as from ongoing favorable financing conditions.

The advanced economies reported growth of 1.7% in 2025 (previous year: 1.8%). In the euro area, growth accelerated slightly to 1.4% (previous year: 0.9%), but nevertheless remained moderate overall. Following a strong previous year, growth in the US weakened significantly and stood at 2.1% (previous year: 2.8%).

The emerging and developing economies achieved growth of 4.4% (previous year: 4.3%). The expansion in the Chinese economy continued, with growth persisting at 5.0% (previous year: 5.0%).

According to the IMF, global inflation fell overall from 5.8% in 2024 to 4.1% in the year under report. The rate of 2.5% in advanced economies continued to approach the respective targets, while the rate of 5.2% in emerging and developing economies fell well short of the previous year's figure of 7.9%. Overall, the decline in inflation progressed more slowly than originally expected, as a result of which most major economies have upheld cautious and predominantly restrictive monetary policies.

Global trade volumes rose by 4.1% and thus exceeded the moderate growth of 3.6% seen in the previous year. This development benefited in particular from trade activities being brought forward due to increased tariff uncertainties.

Given its long-term project and product lifecycles, STRATEC and the decisions its customers take concerning joint development projects are only affected by macroeconomic fluctuations to an immaterial extent. Having said this, the macroeconomic climate is nevertheless a significant factor for STRATEC's business activity and is therefore factored extensively into the company's assessments and planning.

Source: IWF:World Economic Outlook; Update January 2026

Sector-specific framework

Based on various estimates, the in-vitro diagnostics (IVD) market will continue to show very healthy rates of sustainable growth and has a volume of around USD 100 billion.¹

Consistently aging populations, the increased prevalence of chronic diseases, more frequent occurrence of infectious diseases, and the ever growing significance of more precise treatment (precision medicine) – these are key market growth drivers that are also sustainable. Over and above that, the research being performed on innovative technologies, such as specific biomarkers, will create new opportunities for future market growth.

The medium to long-term growth drivers in the markets served by STRATEC's customers can be summarized as follows:

POLITICAL	TECHNOLOGICAL	SOCIAL
• Development and expansion in healthcare systems, especially in developing and emerging economies
• Expansion in global infrastructure leading to improved access to medical care	• Fast-growing and highly specialized market segments due to new medical findings and new diagnostics possibilities
• Increasing degree of automation
• Development of new tests and treatment options, such as personalized medicine	• Demographic change towards an increasingly elderly population with growing diagnostics requirements
• Rising life expectancy and resultant need for diagnostics
• Increased prevalence of chronic and infectious diseases

The various segments and areas of application within IVD have different growth rates. STRATEC particularly operates in those segments which generate above-average high growth rates. These include molecular diagnostics, for example, as well as highly sensitive procedures within immunodiagnostics.

Source: e.g. MarketsandMarkets: In Vitro Diagnostics Market, March 2025

GROUP MANAGEMENT REPORT

Due not least to increasing complexity and specificity, it is difficult for any one company to develop proprietary products in all technology and market segments. In view of this, diagnostics groups frequently procure specific technologies to maintain their technological leadership and survive in the market. As a result, a process of consolidation has been apparent in the IVD market for years now and is expected to continue in future as well.

At the same time, the constant rise in regulation seen in the diagnostics industry also represents an increasingly high barrier to potential competitors to STRATEC entering the market. There are only very few comparable companies with the ability to offer a similar range of products and services from compiling specifications, through development, approval, and production of the respective instruments, consumables, and solutions. The competitive situation therefore remains very limited and, alongside in-house development departments, is restricted to a handful of specialist companies.

Veterinary diagnostics

As well as human diagnostics systems, via its Diatron brand the STRATEC Group also offers systems for use in veterinary diagnostics (for domestic pets). Veterinary diagnostics has taken over numerous technologies and methods from human diagnostics. A range of key standard diagnostics applications in the fields of immunodiagnostics, molecular diagnostics, hematology, and clinical chemistry is thus available for the veterinary supervision of domestic and farm animals.

Life sciences

Life sciences is taken here as particularly comprising academic research and pharmaceuticals research, with the latter area accounting for by far the larger share of the market. The STRATEC Group has numerous life sciences customers, particularly in the field of smart consumables, but also increasingly for instrumentation. Furthermore, the field of translational research, which involves translating the results of basic research into clinical applications, is also increasingly significant to STRATEC.

Business performance

In the 2025 financial year, the STRATEC Group was confronted by a market climate that has remained persistently challenging since the Covid-19 pandemic. In addition, ongoing volatility in global tariff policies and numerous geopolitical crises created further uncertainties. These temporarily impacted on customers' order behavior and adversely affected supply chain stability. As a result, consolidated sales decreased from € 257.6 million in the previous year to € 250.9 million in the 2025 financial year. Net of currency items, this corresponds to a 1.1% reduction in sales (nominal: 2.6%).

Consistent with expectations, the adjusted EBIT margin decreased in the 2025 financial year and amounted to 10.0%, compared with 13.0% in the previous year. This reduction in profitability is chiefly due to the high earnings contributions received from Development and Services in the previous year, a factor which, as forecast, was not repeated in the 2025 financial year. In addition, the development in the margin was negatively influenced by product mix effects, increased input costs, and currency items.

Given the market climate outlined above, the company was unable to meet the sales forecast originally communicated in the 2024 Outlook, namely of constant-currency consolidated sales growth in a low to medium single-digit percentage range. The Board of Management therefore amended its guidance on October 30, 2025 already (new target: constant-currency consolidated sales at around previous year's level). Despite lower-than-planned sales and the resultant absence of benefits of scale, the company nevertheless achieved the lower end of its initial guidance for the adjusted EBIT margin of around 10.0% to 12.0%. This particularly reflected the positive impact of consistent cost management.

The liquidity and financing position of the STRATEC Group was secured at all times through-out the period under report. In the 2025 financial year, the company pressed closely ahead with developing new products in collaboration with its partners and also concluded additional agreements concerning new cooperations.

STRATEC's group-wide workforce showed a slight reduction of 3.2% in the 2025 financial year. Including temporary employees and trainees, the STRATEC Group had a total of 1,403 employees as of December 31, 2025 (previous year: 1,450). The development in the number of employees in 2025 fell short of the multiyear target pathway stated in the 2024 Outlook, namely that the workforce should remain stable or grow slightly, and correlates with the company's business performance.

Position

Earnings position

Overview of key items in consolidated statement of comprehensive income (€ 000s)

	2025	2024	Change
Sales	250,863	257,624	-2.6%
(cc: -1.1%)
Adjusted EBITDA	40,645	49,214	-17.4%
Adjusted EBITDA margin	16.2%	19.1%	-290 bps
Adjusted EBIT	25,166	33,459	-24.8%
Adjusted EBIT margin	10.0%	13.0%	-300 bps
Adjusted consolidated net income	14,218	20,496	-30.6%

bps = basis points
cc = constant currency

Sales

STRATEC generated consolidated sales of € 250.9 million in the 2025 financial year (previous year: € 257.6 million). On a constant-currency basis, this corresponds to a reduction in sales by 1.1% (nominal: -2.6%). Despite product launch start-up curves showing less dynamic developments than usual and temporary supply chain interruptions due to trade policy tensions, the company achieved year-on-year sales growth in its Systems division. This growth was nevertheless insufficient to fully offset the moderate downturn in sales in the Service Parts & Consumables and Development and Services divisions.

STRATEC divides its sales into four operating divisions.

Sales in the Analyzer Systems operating division grew year-on-year by 4.9% (constant-currency: 6.3%) to € 86.7 million (previous year: € 82.7 million). Sales benefited in particular from strong demand in the immunoassay system business. Demand for molecular diagnostics system lines, which had witnessed prolonged disruption in the wake of the Covid-19 pandemic, also continued to stabilize.

Sales in the Service Parts & Consumables operating division decreased by 6.2% (constant-currency: -4.5%) to € 103.6 million in the 2025 financial year, compared with € 110.4 million in the previous year. This division felt the effects of volatile order behavior and logistic optimization measures on the part of customers to account for changing global tariff restrictions. Liquid consumables (base chemicals for analyses) in the hematology business at the Diatron brand also witnessed a decline in sales in the 2025 financial year.

Due in particular to the strong basis for comparison set in the previous year, sales in the Development and Services operating division fell by 6.8% (constant-currency: -5.6%) to € 58.9 million in the 2025 financial year (previous year: € 63.2 million).

Sales in the Other Activities operating division increased from € 1.3 million in the previous year to € 1.6 million in 2025 (nominal: +26.9%; constant currency: +31.0%).

GROUP MANAGEMENT REPORT

Consolidated sales by operating division (€ 000s)

	2025	2024	Change	Constant-currency change
Systems	86,727	82,671	+4.9%	+6.3%
Service Parts & Consumables	103,560	110,429	-6.2%	-4.5%
Development and Services	58,932	63,228	-6.8%	-5.6%
Other Activities	1,645	1,296	+26.9%	+31.0%
Consolidated sales	250,863	257,624	-2.6%	-1.1%

Development in share of sales by operating division

	2025	2024
Sales in € million	250,863	257,624
Systems share of sales in %	34.6%	32.1%
Service Parts & Consumables share of sales in %	41.3%	42.9%
Development and Services share of sales in %	23.5%	24.5%
Other Activities share of sales in %	0.6%	0.5%

Gross profit and gross margin

Gross profit fell from € 76.4 million in the previous year to € 64.2 million in the 2025 financial year. This corresponds to a gross margin of 25.6%, as against 29.7% in the previous year. The reduction was due, among other factors, to the realization in the previous year of sales for high-margin development projects, license agreements, and services. As expected, these were not repeated in the 2025 financial year. Furthermore, an additional write-down of € 4.3 million was recognized within cost of sales for inventories in the 2025 financial year.

Research and development expenses

Gross development expenses amounted to € 62.9 million in the 2025 financial year, compared with € 55.4 million in the previous year. Of this total, € 47.0 million was recognized through profit or loss in cost of sales or capitalized (previous year: € 43.8 million), while € 15.9 million was directly expensed (previous year: € 11.6 million). The increase in the volume of research and development expenses that was directly expensed is chiefly due to an impairment recognized in the 2025 financial year on an internally generated intangible asset in connection with a delayed market launch and reduced sales potential for a product family in the Diatron brand.

Sales-related expenses

Sales-related expenses amounted to € 12.9 million in the 2025 financial year and were thus only slightly higher than the previous year's figure of € 12.5 million.

General administration expenses

General administration expenses increased from € 24.4 million in the previous year to € 25.8 million in the 2025 financial year. This line item includes one-off personnel expenses of € 0.6 million (previous year: € 1.7 million), as well as one-off advisory expenses and fees, also relating to reorganization and efficiency processes, of € 1.9 million (previous year: € 0.3 million).

Other operating income and expenses

The net balance of other operating income and expenses came to € -0.4 million in the 2025 financial year, as against € 0.9 million in the previous year. A lower volume of exchange rate gains was generated compared with the previous year.

Earnings performance

Adjusted EBIT amounted to € 25.2 million in the 2025 financial year, compared with € 33.5 million in the previous year. As a result, the adjusted EBIT margin decreased by 300 basis points to 10.0% (previous year: 13.0%). The reduction in profitability is chiefly due to the fact that, as forecast, the high volume of earnings contributions received from Development and Services in the previous year could not be repeated in the 2025 financial year. Furthermore, the development in the margin was adversely affected by a less favorable product mix, increased input costs, and currency items.

Adjusted consolidated net income amounted to € 14.2 million in the 2025 financial year (previous year: € 20.5 million). The financial expenses included in this figure decreased from € 5.9 million in the previous year to € 4.2 million in the 2025 financial year. This reflects the impact of the lower level of loan utilization over the year as a whole, as well as of the reduction in interest expenses for debt capital components with floating interest rates. The adjusted tax rate stood at 32.1%, as against 27.0% in 2024. Adjusted earnings per share (diluted) amounted to € 1.17, as against € 1.69 in the previous year.

Year-on-year comparison of EBIT and EBIT margin (€ 000s)

	2025	2024	Change
Adjusted EBIT	25,166	33,459	-24.8%
Adjusted EBIT margin	10.0%	13.0%	-300 bps

bps = basis points

Reconciliation of adjusted EBIT and consolidated net income

In the interests of comparability, key earnings figures for the 2025 financial year have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions, impairments of intangible assets, write-downs of inventories, and other one-off items (including advisory expenses, fees, and reorganization expenses). The reconciliation of the adjusted earnings figures with the earnings figures reported in the consolidated statement of comprehensive income is presented in the following tables:

Reconciliation of adjusted EBITDA (€ 000s)

	2025	2024
Adjusted EBITDA	40,645	49,214
Adjustments:
Write-downs of inventories	-4,308	0
Other¹	-2,527	-2,238
EBITDA	33,810	46,976

¹ Including advisory expenses, fees, and reorganization expenses

Reconciliation of adjusted EBIT (€ 000s)

	2025	2024
Adjusted EBIT	25,166	33,459
Adjustments:
PPA amortization	-3,114	-3,679
Write-downs of inventories	-4,308	0
Impairments of intangible assets	-6,148	0
Other¹	-2,527	-2,238
EBIT	9,068	27,542

¹ Including advisory expenses, fees, and reorganization expenses

Reconciliation of adjusted consolidated net income (€ 000s)

	2025	2024
Adjusted consolidated net income	14,218	20,496
Adjusted earnings per share in € (basic)	1.17	1.69
Adjustments:
PPA amortization	-3,114	-3,679
Write-downs of inventories	-4,308	0
Impairments of intangible assets	-6,148	0
Other¹	-2,527	-2,238
Taxes	1,637	1,442
Consolidated net income	-242	16,021
Earnings per share in € (basic)	-0.02	1.32

¹ Including advisory expenses, fees, and reorganization expenses

Financial position

Liquidity analysis

The cash flow statement of the STRATEC Group shows the origin and utilization of the cash flows generated within the financial year. A distinction is made between the cash flow from operating activities and the cash flows from investing and financing activities.

Overview of key figures in consolidated cash flow statement (€ 000s)

	2025	2024	Change
Outflow (-) / inflow (+) of funds for/from operating activities	-432	48,712	n/a
Outflow of funds for investing activities	-16,804	-15,970	n/a
Outflow of funds for financing activities	-6,302	-20,301	n/a
Cash at end of period	23,057	47,164	-51.1%

The outflow of funds for operating activities stood at € 0.4 million in the 2025 financial year, contrasting with an inflow of € 48.7 million in the previous year. This key figure was adversely affected, among other factors, by the lower volume of consolidated net income, higher income tax payments, and a € 15.8 million increase in the inventories, trade receivables, and other assets line item (previous year: € 12.1 million reduction).

GROUP MANAGEMENT REPORT

The outflow of funds for investing activities for the 2025 financial year amounted to € 16.8 million, as against € 16.0 million in the previous year. It comprised outgoing payments of € 7.0 million for investments in intangible assets (previous year: € 8.3 million), € 9.3 million for investments in property, plant and equipment (previous year: € 9.9 million), and € 0.6 million for investments in financial assets (previous year: € 0 million).

The outflow of funds from financing activities totaled € 6.3 million, compared with € 20.3 million in the previous year. This figure includes the net take-up of financial liabilities (in connection with the syndicated loan newly agreed in the 2025 financial year) and loans amounting to € 4.4 million (previous year: net repayment of € 10.3 million), outgoing payments of € 3.4 million to repay lease liabilities (previous year: € 3.3 million), and the payment of a dividend of € 7.3 million to shareholders (previous year: € 6.7 million).

On a constant-currency basis, the total of all inflows and outflows in the year under report resulted in cash at the end of the period of € 23.1 million, as against € 47.2 million in the previous year.

At the balance sheet date on December 31, 2025, STRATEC had credit lines of € 125.0 million in the form of a syndicated loan agreement in order to provide flexibility in off-setting potential fluctuations in liquidity. Of this, an amount of € 92.5 million had been drawn down as of the balance sheet date.

Investment and depreciation policies

Among other items, the investments of € 9.3 million in property, plant and equipment involved investments in plant and office equipment, assets under construction (especially prototypes and tools), and technical equipment. The investments of € 7.0 million in intangible assets, on the other hand, mainly related to capitalized development work.

The capex ratio, i.e. total investments in property, plant and equipment and in intangible assets as a percentage of sales, amounted to 6.5% in 2025 (previous year: 7.1%) and thus fell short of the target corridor of 8.0% to 10.0% communicated in the previous year's Outlook. Among other factors, this was due to a lower-than-planned volume of investments in technical equipment at the Birkenfeld location, as well as to lower investments at the India and US locations.

Asset position

Total assets decreased from € 445.1 million at the previous year's balance sheet date to € 426.0 million as of December 31, 2025. This was due in particular to an € 8.6 million reduction in inventories to € 113.2 million (previous year: € 121.8 million) and a lower volume of available cash, which stood at € 23.1 million (previous year: € 47.2 million). The reduction in inventories is partly due to the write-downs recognized in the 2025 financial year.

Due among other factors to the impairment recognized on a development project in the Diatron brand, intangible assets decreased from € 113.9 million at the previous year's balance sheet date to € 108.0 million as of December 31, 2025.

Trade receivables showed a significant increase from € 41.6 million as of December 31, 2024 to € 56.9 million as of December 31, 2025. This increase was due among other factors to the intra-year distribution of sales, with a particularly high volume of sales at the end of the year.

Given the performance over time of development performance obligations within development cooperations, contract assets also rose by € 7.5 million to € 29.6 million as of December 31, 2025 (previous year: € 22.1 million).

Due to tax prepayments being too high, income tax receivables rose from € 2.2 million at the previous year's balance sheet date to € 4.4 million as of December 31, 2025.

Structure of consolidated balance sheet:
Assets (€ 000s)

	2025	2024	Change
Intangible assets	108,010	113,864	-5.1%
Non-current assets (excluding intangible assets)	104,575	107,692	-2.9%
Current assets	213,401	223,502	-4.5%
Consolidated total assets	425,986	445,058	-4.3%

In view of the slightly negative consolidated net income and accounting for the dividend distribution in the 2025 financial year (€ 7.3 million), shareholders' equity decreased from € 242.5 million at the previous year's balance sheet date to € 237.3 million as of December 31, 2025.

Due to the reduction in total assets, the equity ratio increased year-on-year by 120 basis points to 55.7% as of December 31, 2025 (previous year: 54.5%).

Structure of consolidated balance sheet: Equity and debt (€ 000s)

	2025	2024	Change
Shareholders' equity	237,320	242,533	-2.1%
Non-current debt	134,925	112,179	+20.3%
Current debt	53,741	90,346	-40.5%
Consolidated equity and debt	425,986	445,058	-4.3%

Non-current debt increased from € 112.2 million at the previous year's balance sheet date to € 134.9 million in the 2025 financial year, while current debt fell over the same period from € 90.3 million to € 53.7 million. This shift to longer-term debt is attributable in particular to the syndicated loan newly concluded in the 2025 financial year, which replaced existing loan agreements with shorter maturities.

Financial liabilities amounted to € 135.5 million as of December 31, 2025 and thus approximated to the previous year's figure of € 134.3 million.

Trade payables fell significantly from € 18.4 million at the previous year's balance sheet date to € 12.6 million as of December 31, 2025. This reduction is chiefly related to the customary course of business and is predominantly due to the specific balance sheet date.

In view of the income tax payments made in the 2025 financial year, income tax liabilities showed a significant reduction from € 8.0 million to € 1.7 million as of December 31, 2025.

Key figures on asset position (€ 000s)

	2025	2024	Change
Total assets	425,986	445,058	-4.3%
Shareholders' equity	237,320	242,533	-2.1%
Equity ratio in %	55.7	54.5	+120 bps
Financial liabilities	135,515	134,260	+0.9%
Financial liabilities as % of total assets	31.8	30.2	+160 bps
Net debt ratio ([financial liabilities - cash] / EBITDA )	3.3	1.9	+1.4
Debt/equity ratio in %	79.5	83.5	-400 bps

bps = basis points

The 2025 financial year was significantly affected by geopolitical tensions and the resultant uncertainties on global markets. For a company with highly complex products and internationally aligned value and supply chains, this situation presented additional challenges on both supply and sales sides. Against this backdrop, the level of sales generated fell short of the targets originally formulated by the Board of Management. Given the challenging geopolitical situation and sector-specific framework, however, the Board of Management nevertheless assesses the overall results achieved as satisfactory. The fact that the company met the margin corridor, albeit at the lower end, underlines the resilience of its business model and demonstrates the effectiveness of the measures initiated to manage earnings and costs. Not least in view of the numerous development cooperations currently underway for new products, the company's overall situation is assessed as positive.

GROUP MANAGEMENT REPORT

Non-financial performance indicators

Further growth at the STRATEC Group is crucially dependent on the availability of adequate development capacities. Even though in practice many factors are relevant to the company's growth, the following section presents the relevant non-financial performance indicator which is of key importance to the company in managing its growth.

STRATEC's sustainable success is driven by the performance of its highly qualified and mo-tivated employees, who work in partnership with global players, often market leaders, to develop innovative technologies and solutions that enable the company's partners to shape their markets with reliable, safe, and user-friendly products. STRATEC therefore views the number of employees as a key non-financial performance indicator.

A further motivation for STRATEC's team is the awareness that the solutions they develop are contributing to further advances in global diagnostics.

One of STRATEC's primary objectives is to provide all of its employees with new career challenges and a modern and attractive working environment. This in turn should motivate employees to continue giving of their very best and help retain them at the company on a lasting basis. Further information about employees and their interests can be found in the Non-Financial Group Declaration within this report.

Number of employees

Including temporary employees and trainees, STRATEC had a total of 1,403 employees as of December 31, 2025 (previous year: 1,450). The slight year-on-year reduction in the number of employees is chiefly due to the earnings enhancement measures continued in the year under report.

Development in employee totals

Employees at balance sheet date

	2025	2024	Change
Total employees	1,403	1,450	-3.2%
Research and development employees	635	652	-2.6%

One of STRATEC's core activities and competencies involves developing complex technological systems that combine biochemical processes with highly integrated hardware and software. This is reflected, among other factors, in the fact that 635 of our employees (previous year: 652), corresponding to a 45.3% share of all staff (previous year: 45.0%), work in research and development. This share is expected to remain high in the years ahead as well. Given the interdisciplinary nature of the work involved, many employees in this area contribute both technical and scientific expertise. Further key figures on employee concerns can be found in the Non-Financial Group Declaration within this report.

Number of employees at the STRATEC group

C. OUTLOOK

Demographic changes and the growing worldwide prevalence of chronic and infectious diseases are leading to a continuous increase in demand for in-vitro diagnostics test processes. In addition, precision medicine is further gaining in significance, as individualized therapeutic concepts require ever more precise and comprehensive diagnostic solutions. Furthermore, technological advances, particularly in terms of enhanced sensitivity and precision of in-vitro diagnostics systems, are opening up new application fields, for example in oncology, neurology, and prenatal diagnostics. The lack of qualified laboratory staff in many countries is additionally boosting demand for highly automated, efficient system solutions. The trend towards outsourcing the design and manufacture of automation solutions to specialist partners like STRATEC is also intact. Key drivers here include ever stricter regulatory requirements and permanently rising quality standards which require extensive specialist knowledge. At STRATEC, these developments are reflected both in the numerous market launches seen in recent years and in the company's well-stocked development pipeline. The medium to long-term growth potential harbored by the target markets of the STRATEC Group and its customers are therefore assessed just as positively as ever.

Driven by ongoing robust demand in the fields of immunoassays and immunohematology and a slight recovery in the field of molecular diagnostics and based on current orders and order forecasts received from customers, Systems sales are expected to increase significantly in the 2026 financial year. Against this backdrop, STRATEC expects to generate year-on-year constant-currency consolidated sales growth in a medium to high single-digit percentage range in the 2026 financial year. The resultant benefits of scale are expected to be partly to fully offset by rising input costs due not least to adverse geopolitical factors. Accordingly, the EBIT margin for 2026 is expected to approximate to the previous year's level (2025: 10.0%).

Investments in property, plant and equipment and in intangible assets corresponding to a total of 6.5% to 8.5% of sales are budgeted for the 2026 financial year (2025: 6.5%).

Subject to approval by shareholders at the Annual General Meeting, the distribution of a dividend of € 0.60 per share is foreseen for the financial year under report (previous year: € 0.60). STRATEC is thus consistently upholding its continuity-based dividend policy.

To optimally draw on the wide variety of growth potential harbored by its current deal and development pipeline, for the coming year STRATEC plans to maintain a stable workforce, or to expand this slightly.

STRATEC's financial forecast is based on budgets that account for and suitably weight both the specific features of its business model and numerous internal and external factors. Key factors include new order figures, our customers' forecasts, their order behavior, the stocking of service parts, and the number of projects currently in development and negotiation. This forecast does not account for additional opportunities resulting from external growth (e.g. acquisitions). Given the long-term nature of its customer relationships, STRATEC only accords subordinate significance to macroeconomic fluctuations, meaning that this factor is only accounted for with a low weighting in the company's planning.

GROUP MANAGEMENT REPORT

D. OPPORTUNITIES AND RISKS

STRATEC SE and its subsidiaries design and place their products essentially on behalf of customers who mostly operate in strictly regulated markets. These regulatory requirements set a defined framework for the target markets of STRATEC and its customers. Provided that these requirements are complied with and met, this framework offers a plannable target factor which reduces part of the risks involved in designing, manufacturing, and obtaining approval for the products. Irrespective of this, the path to final placement of the products with end customers involves numerous opportunities and risks. These are presented in the following section.

The STRATEC Group comprises several subsidiaries with international operations that are centrally managed and supervised as part of STRATEC's product portfolio. Their opportunities and risks are largely identical and overlap in some cases. In view of this, no distinction has been made between subsidiaries in the following presentation.

Opportunities

In a climate characterized by numerous uncertainties in which planning is rendered significantly more difficult, STRATEC also sees numerous opportunities to participate in developments enabling it, together with its partners, to generate sustainable growth over many years.

Alongside demographic trends, which are expected to result in a permanent expansion in the global healthcare infrastructure to address the needs of an everolder and growing global population, the impact of the Covid-19 pandemic also made it clear that there is a great need for diagnostics test capacities around the world. In developing the relevant infrastructure, however, the key focus is by no means solely on preparing for further catastrophes of a similar nature. Continuous technological and scientific advances in life sciences and in-vitro diagnostics are rather producing a permanent stream of new insights and applications that, in the next step, have to be turned into marketable, automated products in the form of diagnostic and therapeutic solutions. Areas such as neurology and oncology are currently particularly important in this respect, as are chronic and infectious diseases. Automated solutions help to replace manual processes that are prone to error and to meet increasingly strict regulatory requirements. Not only that: In times in which healthcare systems are obliged to make cost savings, they also help in establishing cost-efficient processes.

In light of these developments, companies like STRATEC offer life science and diagnostics companies the opportunity to focus on their core businesses, namely researching, developing, and marketing analytic tests, and to outsource the automation solutions to specialist partners.

Risks

STRATEC analyzes and evaluates risks systematically in its early-warning risk identification system or on an ad-hoc basis. Risks are qualified and quantified by reference to their probability of occurrence and scope and reported and monitored based on an assessment of their materiality.

STRATEC's business model is in many cases based on long periods of cooperation with customers. In view of this, it is exposed to some risk factors to a notably lesser extent than is customary at companies in many other sectors that are dependent on macroeconomic cycles, or on technological and demand trends.

As a general rule, the long-term planning performed by STRATEC's customers to develop an analyzer system depends on their market presence and the lifecycles of existing products, but not on macroeconomic cycles or economic crises. On a purely operative level, the sales of such systems over their product lifecycles often follow a fixed scheme that may be overridden by unforeseeable exceptional developments, such as the Covid-19 pandemic. This led to significant additional demand for molecular diagnostics systems in the years from 2020 to 2022 and to a resultant saturation of the market in this segment that continues to the present day. The period required for planning, specification, and development amounts to around two to four years and is often followed by a two-year approval stage. Once launched onto the market, the lifecycle of a system may last some 15 to 20 years. A further five to eight years often pass before the final support and service activities are discontinued. The total project lifecycle thus often amounts to more than 25 years and is characterized by a high degree of underlying plannability.

Due to the geopolitical and macroeconomic climate, however, risks have increased significantly in recent years. Alongside the downstream implications of the Covid-19 pandemic, these risks represent an ongoing substantial source of uncertainty for the company's planning and its assessment of market developments.

STRATEC counters these risks with a variety of monitoring processes and by decentralizing various company processes and making these more flexible. With its strategic decisions and its active early-warning risk identification system, it endeavors to minimize these risks and, in the best case, to convert them into opportunities.

Risk categories, probabilities of occurrence, and amounts of damages

Assessment of probability of occurrence

0% to 25%	Unlikely
25% to 50%	Possible
50% to 75%	Likely
75% to 100%	Very likely

Estimated financial impact on asset and earnings position of STRATEC Group in event of risk materializing

Degree of impact	Definition of amount of damages
Low	€ 0 million to € 1.0 million
Medium	> € 1.0 million to € 9.4 million
High	> € 9.4 million to € 36.0 million
Very high	> € 36.0 million

The degree of impact is derived on the basis of the STRATEC Group's asset and earnings strength.

GROUP MANAGEMENT REPORT

Risk categories

The early-warning risk identification system was revised in the 2025 financial year, with a new risk management software being introduced in this context. This is reflected not least in optimized reporting processes, an extension in the risk categories and areas of responsibility, and their allocation to the respective risk categories.

Summarized overview of risk categories, material risks, and their implications for the asset and earnings position following the implementation of risk mitigation measures (risks in the respective category ordered by probability of occurrence, starting with the most likely, and then by degree of potential impact):

	Probability of occurrence	Potential impact short-term (up to 1 year)	medium-term (1–3 years)
Operating risks
Supplier and procurement risks	Possible	Medium	Medium
Production risks	Possible	Medium	Medium
Project risks	Possible	Medium	Medium
Sanction and tariff risks	Possible	Medium	Medium
Payment default risks	Unlikely	Medium	Low
Financial risks
Currency risks	Likely	Medium	Medium
Interest rate risks	Possible	Medium	Medium
Tax risks	Possible	Medium	Medium
Insurance risks	Unlikely	Medium	Medium
IT and personnel risks
IT risks	Likely	Medium	Medium
Personnel risks	Possible	Medium	Medium
Legal and governance risks
Product liability risks	Unlikely	Medium	High
Risks due to use of property rights and patents	Unlikely	Medium	Medium
Industry-specific, macroeconomic, and strategic risks
Macroeconomic and geopolitical risks	Very likely	Medium	Medium
Market and competition risks	Possible	Low	Medium
Dependency on key customers	Unlikely	Medium	High
Other risks
Environmental and sustainability risks	Possible	Medium	Medium

The material risks are presented in greater detail below.

Operating risks

The factors outlined at the beginning of this section and the implications of geopolitical and pandemic-related effects, which have resulted in a high level of stocks, underline the significant role played by supplier and procurement risks for STRATEC. On the one hand, the company has to safeguard the availability of key materials and components. On the other hand, however, this leads to increased volumes of inventories and corresponding capital commitments if customers' call-up volumes fall short of expectations. As reported in the 2025 financial year, restrictions imposed on supply chains due to political considerations may result in production restrictions for rare earths. STRATEC is countering these factors with amended, more flexible procurement processes, close supplier management, and strict project controlling in conjunction with effective target cost management.

STRATEC generates the major share of its sales with development projects and subsequent production of the analyzer systems thereby developed. Although negative implications resulting from potential damages are already accounted for and secured when structuring the respective project contracts, certain project and production risks cannot be excluded.

In general, both STRATEC and the respective customer have a great interest in making a success of the cooperation. As a general rule, they therefore allocate the resources needed to implement a development project and subsequent serial production within the foreseen budget. STRATEC is nevertheless notably dependent on the customer's decision as to when, and with which test menu, it intends to launch a developed product into geographical sub-markets. This may lead to variances between project planning and sales realization volumes.

For instrument platforms internally developed by STRATEC, moreover, there is the risk that, if the budgeted sales volumes are not achieved, the capitalized development services cannot be fully amortized via instrument sales, thus resulting in an impairment risk.

Although STRATEC's customers and partners generally involve companies that are strongly positioned in their respective markets and solidly financed, the risk still remains that a customer may be unable to meet its payment obligations, or only in part, as a result of a deterioration in its financial situation. STRATEC counters these payment default risks by taking up trade credit and receivables default insurance and, if warranted, by screening customers and taking suitable further measures to limit any increase in credit default risk. As a result, this risk is limited to a manageable (short) timeframe and to amounts appropriate to the respective customer relationship.

Due to import restrictions, import tariffs, or other customs duties, which are heavily dependent on political decisions and thus difficult to plan, as well as to sanctions in specific cases, there is an ongoing elevated risk of additional costs or of reduced sales potential should access to specific markets be restricted or only possible at additional cost.

GROUP MANAGEMENT REPORT

Financial risks

STRATEC's financial strategy focuses on ensuring the availability of the funds required for its targeted organic and potential acquisition-driven growth.

Given the continuous rise in recent years in the volume of capital committed to increase inventories since the Covid-19 pandemic, liquidity risk has increasingly come into focus at STRATEC.

The STRATEC Group is financed by cash flows generated from its operating activities, as well as by short to long-term financing provided by various reputable banks. In August 2025, the company concluded a syndicated loan agreement for € 125 million with a five-year term with four consortium banks. This facility provides for extension options of up to two years, subject to approval by the banks, and for a repayment amount of € 27 million over the term. It has replaced short-term and medium-term financing agreements, thus significantly improving STRATEC's planning capacity. In addition, the company has various fixed-interest and development loans that mature in the years from 2027 to 2030. Furthermore, at the balance sheet date on December 31, 2025, the company had a remaining amount of € 5 million in connection with a master credit facility dating back to the 2022 financial year. This would have expired in January 2027 and was also repaid in January 2026. The loan agreements harbor risks in the form of the termination rights granted to the financing banks in the event of STRATEC failing to comply with contractual obligations, such as the achievement of key financial figures, and being unable to remedy such situation.

Liquidity risk has not been presented in the above table of risk categories, as the potential implications can only be allocated inadequately to the damages classification.

At STRATEC, currency risks arise in particular due to sales that are invoiced in US dollars. Other currencies only play a subordinate role. Wherever possible, risks relating to revenues in US dollars are neutralized with corresponding procurement in US dollars (natural hedges). Depending on its assessment of developments in the US dollar and the plannability of incoming payments, the company hedges part of the remaining US dollar volume. Due to their measurement at fair value at the respective reporting dates, these

hedge transactions and amounts that are not hedged may also have a corresponding impact on the company's income statement. Further information about hedge transactions can be found in the notes to the financial statements.

STRATEC is exposed to interest rate risks on account of the debt capital it has taken up. The company therefore continually monitors developments on the international financial markets. Only part of STRATEC's financial liabilities comprises fixed-interest loans; its financial liabilities are thus only partly secured against the risk of sharp rises in interest rates. Given ongoing great uncertainties, such as rising levels of government debt, uncertain trading relationships with the US, and the ongoing uncertainty surrounding the development in inflation, the possibility of European base rates being raised cannot be excluded, a development which could involve risks for STRATEC in the form of additional financial outlays equivalent to a medium amount of damages. In general, the company considers concluding interest hedge transactions depending on market developments and forecasts. The STRATEC Group did not have any interest hedges as of December 31, 2025.

STRATEC and its subsidiaries have international operations and are therefore subject to various national tax laws. Changes in tax legislation or their interpretation by the respective fiscal authorities mean that STRATEC is subject to tax risks that may impact on its earnings position by way of tax expenses or retrospective payments. At the STRATEC Group, these risks are countered by working with a tax compliance management system (Tax CMS).

The potential financial damages resulting from risks are in many cases minimized with insurance. Associated risks apply should the amounts insured be insufficient. In view of this, STRATEC works with an international insurance broker that analyzes the risks and insurance policies in order to identify any corresponding shortfalls in cover and to eliminate these with new contracts.

IT and personnel risks

Given the increasing networking and integration of other locations, customers, and cloud solutions, the security of IT infrastructure will continue to gain in significance. Status reports issued by the responsible authorities and associations also indicate that IT risks, particularly those resulting from cyberattacks and associated damages, should continue to be assessed as high and likely. STRATEC is continuing to counter this risk by stepping up its technical and organizational measures across all security levels, from further hardening up its IT systems, to close monitoring of security-relevant events, through to increased measures to raise awareness among employees. These steps are further accompanied by regular analyses of weak points, penetration tests, and targeted ongoing improvements in IT security standards.

Demand for qualified personnel remains high in individual specialist departments. STRATEC faces personnel risks when it comes to recruiting and retaining qualified staff. The company's success is significantly determined by the availability of suitable employees and by their competence, motivation, and willingness to perform. This being so, STRATEC aims to offer its employees an attractive and highly varied working environment with opportunities for training and further development. In this, the company has to compete with regional and international companies. Risks may result from a shortage of staff in key operating departments, which may lead to delays to the completion of projects and products, or in the finance department, which may lead to delays in the preparation of financial statements.

The company counters personnel risks by cultivating its image as an attractive employer and by establishing contacts with young specialists at an early stage, for example at careers fairs and on social media. Furthermore, various activities, such as those in the field of development or quality management, are performed across several locations to enable use to be made of the resources available at the respective locations. The availability of various professional skills at other locations is thus put to targeted use to avert any shortage of suitable personnel. The company nevertheless has to cover occasional personnel shortages by temporarily deploying interim specialists, thus incurring additional costs.

Legal and governance risks

STRATEC's international activities are embedded within legal, contractual, and ethical frameworks across all divisions. Any application or interpretation of these frameworks that does not meet the respective requirements would result in legal risks. In view of this, STRATEC accords great attention to further developing and integrating its compliance processes and internal control systems into its company-wide corporate governance.

STRATEC's analyzer systems are mostly deployed in highly regulated markets. This means that, prior to the approval of any instrument, various test and validation phases are performed to ensure that strict process and safety requirements are fully met. These are supplemented by several levels of process monitoring during the processing and evaluation of samples, such as technical, chemistry-inherent, or software-based supervisory mechanisms. In practice, suppliers and manufacturers of diagnostics products are nevertheless exposed to liability risks, not all of which can be fully excluded even by complying with legal requirements and performing extensive quality checks. Although STRATEC would not be the primary addressee for potential liability claims, the company covers itself against product liability risks by concluding suitable product liability insurance policies. The possibility nevertheless cannot be excluded that potential liability claims would exceed existing insurance cover and that matters of culpability and damages would have to be clarified in lengthy proceedings, with the result that any potential damages might increase in the medium term and also extend to potential financial damages.

STRATEC is exposed to various risks resulting from the use of property rights and licenses. The company's competitiveness depends not only on the longstanding experience and expertise of its employees but also on the protection of its technologies and innovations. The company therefore protects its own expertise directly or indirectly with numerous international patents and property right registrations. By commissioning patent attorneys and performing research, moreover, STRATEC always ensures that the development, production, or planned market launch of its own products does not infringe any third-party property rights. Legal disputes and associated costs may nevertheless arise in connection with third-party property rights or the use of licenses.

GROUP MANAGEMENT REPORT

Industry-specific, strategic, and macroeconomic risks

The implications and risks of numerous current conflicts in various regions of the world can only be assessed with difficulty and are only limited to their specific regions in a few cases. Given the conflict in Iran and the far-reaching downstream implications expected as a result, the possibility cannot be excluded that prices will be increased in relevant procurement areas and that supply chains will be disrupted for an unspecified period. Alongside the negative impact on transport and material costs, this may also lead to interest rates being raised, which would increase financing costs and delay investment decisions on the part of customers.

Furthermore, geopolitical partnerships are subject to uncertainty, a factor which specifically impacts on underlying conditions in major target markets for STRATEC's customers in the form of currency fluctuations, tariffs, or postponed investment decisions. This increases the volatility of customers' call-up planning and thus also reduces the reliability of STRATEC's sales and earnings planning.

Moreover, the decisions to be taken concerning strategic inventory volumes are rendered more difficult. Here, the need to maintain capital-intensive stocks of critical materials counters a lean, cost-optimized inventory policy. STRATEC is requiring a great deal of time to scale back the inventories built up during the Covid-19 pandemic and thus reduce the associated high volume of capital committed.

Due to these factors, STRATEC faces a historic degree of planning difficulty, which the company is endeavoring to counter with product diversification and long-term partnerships. STRATEC does not have any operations in the highly sanctioned Russian market.

Alongside the life sciences segment, STRATEC's major target market is the in-vitro diagnostics market, which is dominated by around 20 global market leaders. STRATEC works with many of these market leaders and generates a major share of its sales with these customers. This results in a high degree of key customer dependency and a sales market risk, as these customers and the associated market potential cannot readily be replaced. Were a major customer to lose significant market share or cancel a major project,

this would lead to a reduction in budgeted sales or to write-down requirements on capitalized development expenses or inventories, thus directly impacting on STRATEC's earnings position. As a general rule, any such loss of earnings would be countered by potential compensation payments which would nevertheless often only be received at a significantly later point in time. By contrast, the loss of a key customer is assessed as unlikely. That is because the expertise invested in jointly conducted, long-term development projects and the associated financial input on the one hand lead to a close partnership. Alongside numerous benefits, this may on the other hand also result in mutual dependence.

Given greater uncertainties in the political and infrastructural framework, as well as the slow recovery in demand in specific market segments that are nevertheless important, individual sections of the IVD market have recently witnessed rising competitive and price pressure. As a result, investments in new development projects are also only expected to show a subdued recovery, a factor which is temporarily raising price pressure on providers of development services of this kind. The sales market outlined above for STRATEC is characterized by two groups of potential competitors. On the one hand, they include the internal development departments at existing and potential customers. For a variety of reasons, many diagnostics companies have moved to outsource development services for analyzer systems and consumables to specialist outsourcing partners such as STRATEC. This move is motivated, among other factors, by the lower costs generally achievable due to the shorter development times resulting from specialization and due to the available technology pool. On the other hand, STRATEC has competitors in the form of companies around the world that, as outsourcing partners, also focus on the development of automation solutions in highly regulated markets. As this specialization requires highly in-depth expertise, the market entry period for potential competitors is relatively long and correspondingly costly. The risk that any competitor newly entering the market would gain market share increases in the medium term, as such competitor benefits from its growing experience and resultant expertise.

Risks at subsidiaries

In recent decades, STRATEC deliberately decided to promote its growth by acquiring companies in areas of technology or geographical regions in which it was underrepresented. The objective of this strategy is to secure access to innovative technologies, additional development resources, specialist skills, and new customer and sales markets, and thus to strengthen the company's own market position.

Integrating newly acquired subsidiaries into the existing group structure nevertheless involves substantial organizational, cultural, and entrepreneurial challenges. These integration risks are addressed and reduced with extensive integration programs, by harmonizing processes and systems, and by making targeted investments in structures, personnel, and technology.

These integration and transformation measures regularly require financial funds that often only pay off in the form of sales and earnings contributions following an investment and start-up phase lasting several years. If the company does not succeed in achieving the planned synergies and meeting its economic targets within the given timeframe or to the envisaged extent, there is the risk that the carrying amounts of the companies or assets acquired will either partly or fully no longer be recoverable. This would lead to an impairment requirement that would impact negatively on the Group's asset, financial, and earnings position.

Other risks

Environmental and sustainability risks

The group companies of STRATEC SE are located in different countries with a variety of geographical and ecological conditions. The rising number of extreme weather events caused by climate change, such as storm, drought, fires, or floods, may impede STRATEC's production and supply capacity, as well as that of its suppliers, on a temporary and locally limited basis. Where possible and economically expedient, direct impacts are countered with insurance policies covering damage caused by water, fire, and storm, as well as the resultant loss of earnings. STRATEC has performed a climate risk assessment to identify its climate-related risks. Impacts on climate change, such as greenhouse gas emissions, were identified and assessed as part of the materiality assessment. Within the climate risk assessment, the company's locations were investigated to identify current and future physical and climate-related transition events. The assessment accounted for the whole of the value chain and referred to short-term, medium-term, and long-term time horizons.

In addition, STRATEC deploys hazardous substances to a very minor extent. Hazardous substance officers are integrated into the relevant processes and also report in the context of the early-warning risk identification system.

Overall assessment of risk situation at the STRATEC Group

The risk management system and regular reporting mean that STRATEC's Board of Management has a comprehensive overview of the risks facing the respective business divisions and locations and of their financial significance. By taking suitable measures, the risks thereby identified are mitigated to the greatest possible extent.

Although the risks facing the company have risen compared with the previous year, the overall assessment of the risk situation for the Board of Management has currently not identified any risks that could threaten the company's ongoing existence or have any materially negative impact on its asset, financial, or earnings position over and above the extent outlined under financial risks.

GROUP MANAGEMENT REPORT

Risk management system

By detecting and managing risks and meeting statutory requirements, the risk management system forms an active component of the company's management system. Alongside short-term (operating) risks, STRATEC's risk management also addresses long-term (strategic) developments which may impact both positively and negatively on the company's business performance.

The risk management system is centrally managed and largely based on three pillars:

INTERNAL CONTROL SYSTEM	CORPORATE COMPLIANCE	EARLY WARNING RISK IDENTIFICATION SYSTEM
STRATEC's internal control system (ICS) comprises the organizational principles, processes, and control activities that are integrated into the Group's operating and financial processes.

It serves to limit the risks identified and promotes:
• The protection of assets
• The reliability of financial reporting
• Compliance with statutory and internal requirements
• The effectiveness and efficiency of business processes.

The ICS is based on a risk-oriented approach and is continually developed further in line with regulatory and organizational changes. | STRATEC has summarized its group-wide codes of conduct, ethical principles, and other guidelines in its Corporate Compliance Policy. This is binding for all employees and is regularly revised and further developed based on analysis and assessment of the annual risk reports of the individual STRATEC companies.

These principles and guidelines are based on:
• Relevant legislation
• Norms
• Guidelines | In addition to an ad-hoc risk reporting obligation, an early-warning risk identification system has been established in the risk management system at the STRATEC Group. This has been implemented in the form of regular reporting enabling potential areas of risk to be assessed. It serves to analyze and assess risks at the company and in its environment. Consistent with § 91 (2) AktG, the system in place at the STRATEC Group offers a comprehensive instrument for monitoring elementary processes and identifying potential risks at an early stage.

The risk management system is based on:
• Stock Corporation Act (AktG)
• Risk Handbook
• Internal instructions |

Internal control system

STRATEC has a group-wide internal control system (ICS). This comprises the principles implemented by the Board of Management, organizational measures, and control activities that are integrated into the Group's processes and structures.

The objective of the ICS is to:

Safeguard the effectiveness and efficiency of business activities
Protect the company's assets and prevent and detect any losses
Ensure the reliability and integrity of internal and external financial reporting
Safeguard compliance with applicable laws, regulatory requirements, and internal policies.

The Board of Management bears overall responsibility for structuring the ICS and for ensuring that it is continually developed further.

Structure and risk orientation

The ICS is based on a risk-oriented approach. Material operating and financial risks are identified and assessed on the level of the Group and of the subsidiaries. Control measures are integrated into the respective business processes and serve to limit these risks.

The central structural elements of the ICS include defined approval and competency regulations, the separation of functions, the dual control principle, access restrictions in IT systems, standardized policies and accounting requirements, and monitoring and plausibility checks within operating and financial processes.

The system is continually adapted in line with changes in the Group's risk profile, organizational developments, and regulatory requirements.

Internal control system in respect of group financial reporting

In respect of group financial reporting, the ICS serves to ensure that STRATEC's consolidated financial statements are prepared in accordance with the relevant accounting standards and provide a true and fair view of the net asset, financial, and earnings position of the Group.

Uniform group accounting policies and reporting standards are applicable to all companies included in the scope of consolidation. Reporting packages, defined schedules, and agreement and reconciliation processes help to ensure consistent reporting within the respective deadlines. The financial data reported by subsidiaries are reviewed on Group level and subject to analytic processes. The consolidated financial statements are centrally prepared based on standardized reporting requirements.

Local units are supported by the central finance function, which conducts audit and quality assurance measures on the financial data reported. Complex accounting issues are assessed on Group level, with external experts being consulted when necessary. Changes in the relevant accounting standards and regulatory requirements are continually monitored and analyzed to assess their relevance for group accounting.

Monitoring and independent audit

The effectiveness of the ICS is reviewed on an ongoing basis by way of management checks and monitoring measures. In addition, the Internal Audit department conducts independent, risk-oriented audits within the Group. Internal Audit reports directly to the Board of Management and the Supervisory Board (Audit Committee) and performs independent audit and advisory services to safeguard the appropriateness and effectiveness of the internal control and risk management system.

Given the limitations inherent to the system, even a suitably structured internal control system can only provide reasonable assurance, rather than absolute certainty, that material misstatements or irregularities have been prevented or detected.

GROUP MANAGEMENT REPORT

Corporate compliance

STRATEC's Compliance Policy is binding for all employees and is regularly revised and updated based on analysis and assessment of the annual risk reports from individual STRATEC companies. At STRATEC, an understanding of corporate compliance is viewed as a key cornerstone of day-to-day business operations both within the company and in its external dealings. In this respect, compliance with a variety of legal systems and statutory regulations is just as important as compliance with ethical principles.

These guidelines are communicated in training sessions and one-to-one meetings to all employees, managers, and members of the Board of Management. An awareness and understanding of applicable requirements is the only way to ensure overall compliance by all of the persons involved and only this way can the company ensure that its international business dealings are compliant with the necessary standards. To standardize the compliance culture throughout the company, regular targeted training is also provided to local compliance officers at all of STRATEC's subsidiaries, who are also enabled to share their experiences. The aim here is to maintain a uniform compliance management system across the Group and support local officers in implementing the relevant requirements. As well as providing training to new employees, the company also holds regular refresher training sessions within the departments in order to familiarize all employees with our understanding of compliance.

STRATEC's Corporate Compliance Policy includes the following elements:

A basic explanation of STRATEC's understanding of compliance, as well as an explanation of the compliance management system; preventing corruption, i.e. upholding the integrity necessary in business dealings, and in particular the prohibition of any illegitimate exercising of influence; information and assistance for compliance with all requirements set by the law and the respective authorities, as well as with internal requirements; the obligation to provide a fair and respectful working environment at the company; assistance to avoid conflicts of interest between private and business matters; compliance with the requirements of capital market, antitrust, and tax laws; copyright and license conformity; regular training of employees and information material on the intranet and on information boards; respectful and professional conduct at the company; opportunities to report suspected breaches of compliance.

STRATEC's compliance management system is continually being extended and further optimized to address topics of current relevance. This enables managers on various levels to detect specific risks and, by taking suitable measures, to reduce or fully avert these risks. These processes are supplemented by discussions held at irregular intervals between managers and the relevant compliance officer. These discussions enable potential conflicts or questionable matters in the departments to be identified and clarified at an early stage. The conclusive findings of these discussions are reported by the compliance officers in anonymized form to the Board of Management. The Board of Management discharges its reporting obligations towards the Supervisory Board.

In addition, the regular monitoring of tax-related risks within the Group is safeguarded by a tax compliance management system (Tax CMS). This is intended to monitor, identify, and analyze any potential tax risks in good time with the aim of minimizing and/or avoiding any such risks.

Furthermore, STRATEC has established a Compliance Board. The aim here is to achieve greater transparency and diversity when it comes to identifying risks and to work together as a board when setting the compliance-related targets for the respective year.

STRATEC expects all its employees to adhere to its compliance requirements and thus ensure that all decisions and actions taken in their areas of responsibility are always consistent with the Corporate Compliance Policy. An anonymous whistleblower system enabling employees or other parties to notify the company of any breaches of regulations or legal requirements has been in place since 2017.

STRATEC SE signed the UN Global Compact in 2021. This represents an important milestone in STRATEC's activities as a sustainable company. The commitment thereby made enables STRATEC to continue aligning the strategies and processes within the company to the ten principles of the UN Global Compact on human rights, labor standards, environmental protection, and measures to combat corruption.

Early warning risk identification system

The early warning risk identification system in place at STRATEC is consistent with the legal requirements set out in § 91 (2) of the German Stock Corporation Act (AktG). The processes in place to monitor risks require the relevant heads of specialist and other departments, as well as the managers responsible at subsidiaries, to compile regular reports to assess the risks in their areas of responsibility. The resultant reports are reviewed and evaluated by a Risk Committee comprising members of operating divisions and of the Finance department, which then forwards them to the Board of Management, which in turn reviews and evaluates them before reporting to the Supervisory Board. Furthermore, possible countermeasures and monitoring measures are derived and implemented in cooperation with the relevant departments. Independently of this process, exceptional risks require immediate ad-hoc report.

At the various levels of aggregation, the decision makers and managers responsible for the respective risks receive training and are provided with control instruments enabling users to implement the steps and measures necessary to meet internal and legal requirements.

This way, any risks to the company's continued existence can be identified at an early stage and the conceivable consequences of such risks, including those arising over time, can be viewed and assessed alongside any change in their probability of occurrence. Risk analysis and reporting also account for the individual companies within the STRATEC Group, as well as for any interdependencies between group companies.

To manage risks, the company generally deploys the following measures:

Increased allocation of resources
Measures to raise employee awareness
Shorter monitoring intervals
Increased management attention
Agreement of measures to eliminate risks
Insurance policies.

In addition to STRATEC SE, the risk management system also covers the subsidiaries of the STRATEC Group.

GROUP MANAGEMENT REPORT

E. TAKEOVER-RELEVANT DISCLOSURES

Composition of share capital

The company's share capital amounted to € 12,157,841 as of December 31, 2025 and was divided into 12,157,841 individual registered shares. This total includes 1,899 treasury stock shares as of December 31, 2025. All shares involve the same rights and obligations and each share confers one vote.

Restrictions on voting rights or the transferability of shares

Restrictions on share voting rights may result in particular from the requirements of the German Stock Corporation Act (AktG). In specific circumstances set out in § 136 AktG, for example, shareholders are subject to a prohibition on voting, while pursuant to § 71b AktG the company is not entitled to exercise any voting rights for treasury stock shares. We are not aware of any contractual restrictions relating to voting rights or the transferability of shares.

Pursuant to § 67 (2) AktG, only those shareholders registered as such in the Share Register are deemed shareholders from the company's perspective. According to § 4 (4.2) of the Articles of Association, to be entered in the Share Register shareholders must provide the company with the relevant statutory disclosures. Shareholders are further required to inform the company without delay of any change in their address. Entries by a shareholder acting under its own name and relating to shares owned by another party are only permitted and effective from the company's perspective when the fact that the shares belong to another party and the name and address of the owner are entered in the company's Share Register. The same applies when the party thereby entered or the owner transfer their ownership of the shares to another party following such entry. Pursuant to § 67 (4) AktG, the company is entitled to request information from the party entered in the Share Register concerning the extent to which it actually owns the share for which it is entered as the bearer in

the Share Register and, should this not be the case, to convey the information necessary to maintain the Share Register to the party on behalf of which it holds the shares. Should such request for information not meet with any response then, pursuant to § 67 (2) AktG, no voting rights may be exercised for the shares concerned.

Direct or indirect capital shareholdings exceeding 10% of voting rights

Based on the notifications available to us pursuant to § 33 of the German Securities Trading Act (WpHG), as of December 31, 2025 no shareholder directly held more than 10% of the voting rights in the company. We have received notifications from Bettina Siegle, Tanja van Dinter, Ralf Leistner, Hermann Leistner, Doris Leistner, Herdor Beteiligungs GmbH, and Herdor GmbH & Co. KG (all in Germany) that, due to the mutual allocation of voting rights, they each hold more than 25% of the voting rights in the company.

The Board of Management is not aware of any other direct or indirect capital shareholdings exceeding 10% of voting rights.

Bearers of shares with special rights conferring powers of control

There are no shares in the company with special rights conferring powers of control.

Type of voting right control when employees hold shareholdings in the capital and do not directly exercise their control rights

Any shares granted by the company to its employees within the framework of its employee share program or as share-based remuneration are transferred directly to the employees. Like other shareholders, the employees benefiting from such programs can exercise the voting and control rights resulting from their employee shares in accordance with statutory requirements and the provisions of the Articles of Association.

1 (pursuant to § 315a (1) Nos. 1 to 9 HGB) and explanatory notes

Statutory requirements and provisions of the Articles of Association in respect of the appointment and dismissal of members of the Board of Management and amendments to the Articles of Association

The appointment and dismissal of members of the Board of Management are governed by Article 9 of the SE Regulation, § 84 and § 85 of the German Stock Corporation Act (AktG) and § 5 of the company's Articles of Association. Pursuant to § 84 (1) AktG, the Supervisory Board appoints members of the Board of Management for a maximum term of five years and may also dismiss members; repeated appointments and extensions in terms in office, in each case by a maximum of five years, are permitted. Pursuant to § 5 (5.1) of the Articles of Association, the Board of Management comprises one or several persons. § 5 (5.2) stipulates that the Supervisory Board determines the number of members of the Board of Management. Pursuant to § 84 (2) AktG and § 5 (5.2) of the Articles of Association, the Supervisory Board may appoint a Chair and – pursuant to § 5 (5.2) – a Deputy Chair of the Board of Management.

Consistent with Article 9 of the SE Regulation and § 179 AktG, amendments to the Articles of Association require a resolution by the Annual General Meeting. § 12 (12.2) of the Articles of Association allows the Supervisory Board to make amendments only affecting the respective wording. Furthermore, the Supervisory Board is authorized by resolutions adopted by the Annual General Meetings on May 30, 2018, June 8, 2020, May 17, 2023, and June 27, 2025 to amend § 4 of the Articles of Association in line with the execution of Authorized Capital 2025/I and in accordance with utilization of Conditional Capital VIII/2018, Conditional Capital X/2023, and Conditional Capital XI/2025 or upon the expiry of the authorization period governing the utilization of conditional capitals.

Pursuant to § 179 (2) AktG in conjunction with § 15 (15.3) of the Articles of Association, all resolutions adopted by the Annual General Meeting to amend the Articles generally require a simple majority of the votes cast and, unless otherwise mandatorily stipulated in legal requirements, a simple majority of the share capital represented upon the adoption of the resolution. Legal requirements call for larger majorities of three quarters of the share capital represented upon the adoption of the resolution in several cases, such as for any amendment in the object of the company's activities (§ 179 (2) Sentence 2 AktG), for specific capital-related measures, and for the exclusion of subscription rights.

Powers of the Board of Management to issue or buy back shares

Pursuant to § 4 (4.5) of the Articles of Association, STRATEC SE had authorized capital of € 2.4 million as of December 31, 2025:

The Annual General Meeting held on June 27, 2025 created authorized capital (Authorized Capital 2025/I). The Board of Management is authorized, subject to approval by the Supervisory Board, to increase the company's share capital by a total of up to € 2.4 million by issuing new shares in return for contributions in cash and/or in kind on one or several occasions up to June 26, 2030. Shareholders must generally be granted subscription rights. In certain circumstances set out in the Articles of Association, however, the Board of Management is entitled to exclude subscription rights for a total of amount of up to 10% of the share capital existing upon the authorization taking effect or – if lower – of the share capital existing upon the authorization being acted on. To date, no use has been made of this authorization.

Pursuant to § 4 (4.6) and § 4 (4.7) of its Articles of Association, STRATEC SE had conditional capitals amounting to up to € 1,770,000 in total as of December 31, 2025:

Conditional Capital VIII/2018 (amounting to up to € 220,000) serves to grant subscription rights (stock option rights) through to May 29, 2023 in accordance with the resolution adopted by the Annual General Meeting on May 30, 2018. The conditional capital increase is only executed to the extent that the bearers of stock options actually exercise their subscription rights. The new shares have profit participation rights from the beginning of the financial year in which they are issued.

GROUP MANAGEMENT REPORT

Conditional Capital X/2023 (amounting to up to € 750,000) serves to grant subscription rights (stock option rights) through to May 16, 2028 in accordance with the resolution adopted by the Annual General Meeting on May 17, 2023. The conditional capital increase is only executed to the extent that the bearers of stock options actually exercise their subscription rights. The new shares have profit participation rights from the beginning of the financial year in which they are issued.

Conditional Capital XI/2025 (amounting to up to € 800,000) serves exclusively to grant new shares to the bearers or creditors of convertible or warrant bonds issued in accordance with the resolution adopted by the Annual General Meeting on June 27, 2025 in the period through to June 26, 2030 by the company or by a domestic or foreign company in which STRATEC SE directly or indirectly holds a majority of the voting rights and capital. Shares are issued in accordance with the aforementioned resolution and with the resolutions to be adopted by the Board of Management and the Supervisory Board in respect of the conversion and option prices to be set in each case. The conditional capital increase is only executed to the extent that the bearers or creditors of the convertible or warrant bonds actually exercise their rights to convert their conversion or option rights into shares in the company or that the conversion obligations relating to such bonds are met. To the extent that they arise due to the exercising of conversion or subscription rights through to the beginning of the company's Annual General Meeting, the new shares have profit participation rights from the beginning of the previous financial year and otherwise from the beginning of the financial year in which they arise due to the exercising of conversion or subscription rights. To date, no use has been made of this authorization.

In the cases governed by law in § 71 of the German Stock Corporation Act (AktG), STRATEC SE is authorized to buy back shares and to sell any shares thereby bought back. Furthermore, by resolution adopted by the Annual General Meeting on June 27, 2025 the company is authorized until June 26, 2030 to acquire treasury stock on one or several occasions and in total or in partial amounts up to a total of 10% of current share capital for every purpose permitted within the statutory limitation and consistent with the conditions stipulated in greater detail in Agenda Item 14 of the Annual General Meeting on June 27, 2025. The authorization may not be drawn on to trade in treasury stock. Together with the treasury stock already acquired and still possessed by the company, the treasury stock acquired may not at any time exceed 10% of the

respective share capital. The shares should be usable for one or several of the purposes set out in greater detail in Agenda Item 14 of the Annual General Meeting on June 27, 2025, which in some cases also permit the exclusion of subscription rights. To date, the company has not made any use of the authorization to buy back treasury stock.

Material company agreements subject to change of control as a result of a takeover bid

Individual agreements include change of control provisions that entitle the contractual partner to terminate the agreement in the event of a change of control over the company or that grant other special rights potentially detrimental to the company or make the continuation of the contract dependent on approval by the contractual partner.

Remuneration agreements reached by the company with members of the Board of Management for the event of a takeover bid

Three Members of the company's Board of Management have special resignation rights in the event of a change of control over the company. They are thus entitled within six months from the change of control taking effect to stand down from their positions with a notice period of three months to the end of the month and to terminate their employment contracts on an exceptional basis with a notice period of three months to the end of the month. Should this special termination right be exercised, then the member's position on the Board of Management and employment relationship both end prematurely upon expiry of the three-month notice period. A change of control pertains when one shareholder holds at least 30% of the shares in the company, whether directly or indirectly (allocation pursuant to German Securities Trading Act [WpHG] and German Securities Takeover Act [WpUG]), or if the company becomes a dependent company due, for example, to the conclusion of a corporate agreement, or to the merger, contribution, or integration of the company. The member of the Board of Management receives remuneration amounting to 150% of the severance pay cap agreed for mutually agreed premature termination of activity on the Board of Management. This amounts to a maximum of two annual remuneration packages.

F. (GROUP) CORPORATE GOVERNANCE STATEMENT

STRATEC has published the (Group) Corporate Governance Statement required by § 289f and § 315d of the German Commercial Code (HGB) respectively, including the declaration on the German Corporate Governance Code required by § 161 of the German Stock Corporation Act (AktG), together with its Corporate Governance Report in the Investors section of its website (www.stratec.com).

GROUP MANAGEMENT REPORT

G. NON-FINANCIAL GROUP DECLARATION

ESRS 2 – General Disclosures

General basis for preparation of sustainability statements

STRATEC SE has voluntarily prepared a Group Sustainability Statement consistent with the requirements of Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 – Corporate Sustainability Reporting Directive (CSRD) – for the 2025 financial year (01.01.2025 – 12.31.2025) and has prepared a Non-Financial Group Declaration to meet the requirements of § 315b and § 315c of the German Commercial Code (HGB).

Pursuant to § 289d HGB, this Non-Financial Group Declaration has been prepared on the full basis of the first sentence of the European Sustainability Reporting Standards (ESRS) as the framework. No other frameworks or standards have been referred to.

Consistent with the requirements of the Corporate Sustainability Reporting Directive, the Sustainability Statement of STRATEC SE has been prepared on a consolidated basis. The scope of consolidation referred to in the Sustainability Statement corresponds to STRATEC's scope of consolidation in its consolidated financial statements. The Sustainability Statement covers 100% of all operating locations and, to the extent required by the CSRD, all necessary sections of the upstream and downstream value chains. STRATEC has not drawn on the option of omitting to provide specific information referring to intellectual property, know-how, or innovation results. On July 11, 2025, the European Commission adopted a Delegated Act amending ESRS Set I (Delegated Regulation (EU) 2023/2772). The objective of this "quick fix" is to ease the burden on so-called Wave I companies by offering further transitional relief measures for sustainability reporting for the 2025 and 2026 reporting years. STRATEC drew on these transitional relief measures.

Supplementary disclosures to meet reporting obligations under commercial law

The five aspects stated in the German Commercial Code (HGB) have been addressed in the ESRS as follows:

"Environmental concerns" aspect addressed by:
ESRS E1, Subtopics of "Climate change adaptation", "Climate change mitigation", "Energy"
ESRS E5, Subtopics of "Resource inflows, including resource use", "Resource outflows related to products and services"
"Employee concerns" aspect addressed by:
ESRS S1, Subtopics of "Working conditions", "Equal treatment and opportunities for everyone"
ESRS S2, Subtopics of "Working conditions", "Other work-related rights"
"Social concerns" aspect addressed by:
ESRS S4, Subtopic of "Consumers and end users"
Respect for human rights" aspect addressed by:
ESRS S1 and S2 overall
"Combating corruption and bribery" aspect addressed by:
ESRS G1, Subtopic of "Corruption and bribery"

There are no material risks resulting from our own operations or from business relationships, products, and services that are very likely to have severe negative impacts on non-financial aspects pursuant to § 289c HGB.

The most important non-financial metric referred to in managing the company is the number of employees.

Disclosures in relation to specific circumstances

No changes have arisen either in the preparation or in the presentation of sustainability information compared with the previous year. Any material errors identified for previous periods or changes of methods are described as appropriate in the topical standards.

STRATEC has not deviated from the CSRD definition of the short-term (maximum 1 year), medium-term (1-5 years), and long-term (more than 5 years) time horizons.

For the action plans and measures presented in this report, only material operating expenditure (OpEx) and/or capital expenditure (CapEx) have been reported.

Material expenditure is defined as involving monetary amounts of > € 1 million per action plan/measure. Accordingly, expenditure falling short of this threshold has not been included for the disclosures on MDR-A 69 and E1 § 29.

The estimation methodology and associated measurement uncertainty are stated in the respective standard. Estimates inherently involving a higher degree of measurement uncertainty relate in particular to Scope 3 emissions, as these were partly determined by reference to spend-based emission factors. Furthermore, as an OEM partner STRATEC does not have access to any exact information to determine the product lifecycles required for emissions category 3.11 or for the disclosure requirement E5 § 36 a).

Governance

The role of the administrative, management, and supervisory bodies

German stock corporation law provides for a two-tier system to administrate the company. STRATEC SE has a dualistic management system of this kind, in which the Board of Management and the Supervisory Board work closely together in the interests of the company. The company is on the one hand managed by the Board of Management and on the other hand supervised by the Supervisory Board. The Board of Management manages the company under its own responsibility and in the interests of the company, i.e. also accounting for the concerns of shareholders, its workforce, and other groups associated with the company, and plays the key role in determining corporate policies and corporate governance with the objective of sustainable value creation.

The Board of Management of STRATEC SE consists of four executive members. These include the Chair of the Board of Management (CEO) and three further members. The Board of Management does not include any non-executive members. Of the members of the Board of Management of STRATEC SE, 75% are men and 25% are women. No competence profile is in place to govern the composition of the overall Board of Management of STRATEC SE. The members of the Board of Management of STRATEC SE nevertheless possess in-depth expertise and long-term experience in corporate management, strategy, and corporate policy.

The Supervisory Board of STRATEC SE comprises five non-executive members. These include the Chair of the Supervisory Board, the Deputy Chair of the Supervisory Board, and three further members. Pursuant to the competence profile governing the composition of the overall Supervisory Board, three of its five members

have management experience at an industrial company. Furthermore, two of the five Supervisory Board members have longstanding experience with international business transactions or expertise in the field of medical technology or another area of technology. In addition, one Supervisory Board possesses expertise in the field of IT, cybersecurity, and AI. Members of the Board of Management and the Supervisory Board have longstanding experience in the market for in-vitro diagnostics, which is characterized by a high degree of internationalization. This expertise which, due to the structure of the market, is highly focused on Europe and the US, is a highly relevant factor given the company's location focus.

STRATEC SE is not subject to co-determination. The Supervisory Board therefore exclusively consists of shareholder representatives. The Supervisory Board comprises 80% male and 20% female members. Furthermore, 100% of the Supervisory Board members are independent.

The Board of Management of STRATEC SE consisted of the following members in the 2025 financial year:

Marcus Wolfinger, Remchingen, Germany
CEO, Graduate in Business Administration
Dr. Georg Bauer, Salzburg, Austria
Director of Sales, Doctorate in Chemistry
Tanja Bücherl, Amberg, Germany
(since November 1, 2025)
CFO and HR Director, Bachelor of Business Administration
Dr. Claus Vielsack, Birkenfeld, Germany
Director of Product Development, Doctorate in Chemistry

The Supervisory Board comprises the following members:

Prof. Dr. Georg Heni, Freudenstadt, Germany
Chair of Supervisory Board
Dr. Frank Hiller, Feldafing, Germany
Deputy Chair of Supervisory Board
Dr. Patricia Geller, Hanover, Germany
Member of Supervisory Board
Ralf Leistner, Tutzing, Germany
(since August 21, 2025)
Member of Supervisory Board
Dr. Rolf Vornhagen, Langen, Germany
Member of Supervisory Board

GROUP MANAGEMENT REPORT

Materiality aspects relating to corporate social responsibility (CSR) are continually evaluated and amended in line with changes in circumstances. The opportunities and risks related to topics in the field of corporate social responsibility are regularly evaluated and continually monitored within the risk management system. At STRATEC, the terms "corporate social responsibility" and "sustainability" are used on a synonymous basis and accordingly applied in this report.

Sustainability targets are components of the targets stipulated by the Supervisory Board for the Board of Management. Both the Board of Management and the Supervisory Board are regularly informed about the respective degree of target achievement. If material, sustainability-related risks are reported to the Board of Management and Supervisory Board in the risk report. The Board of Management in turn stipulates targets for the managers in the first management level. Furthermore, the Board of Management is informed and advised about sustainability topics via the ESG Board (see "ESRS S1 – Own workforce: Material impacts, risks, and opportunities, and their interaction with strategy and business model") and in particular via the department head responsible for sustainability.

The Board of Management and Supervisory Board also review the availability of suitable skills and specialist expertise to monitor sustainability aspects by performing an extensive analysis of the competencies and qualifications available among the company's workforce. This is achieved by way of internal assessments, training, and, if appropriate, by seeking external advice. These skills and specialist expertise are crucial to understanding and reacting appropriately to the company's material impacts, risks, and opportunities in connection with sustainability.

Information provided to and sustainability matters addressed by the undertaking's administrative, management, and supervisory bodies

The Board of Management of STRATEC SE is informed about the material impacts, risks, and opportunities, implementation of the due diligence obligation in the field of sustainability, and the results and effectiveness of the strategies, actions, parameters, and targets adopted and is also notified whenever these are updated. The Board of Management addressed the findings of the materiality assessment, and thus all material impacts, risks, and opportunities, and approved these. The Board of Management is informed by the Head of Investor Relations, Sustainability & Corporate Communications, as well as in the audit steps involved in preparing the Annual Report. The Board of Management discharges its reporting obligations towards the Supervisory Board. Sustainability topics and the related material impacts, risks, and opportunities are firmly integrated into the corporate strategy.

Integration of sustainability-related performance in incentive schemes

The sustainability targets are stipulated by the Supervisory Board for the Board of Management in longterm incentive programs, as well as in contractual agreements with the members of the Board of Management. If necessary, these targets are broken down in further detail and passed on as appropriate to the next management level. As it only receives fixed remuneration, the Supervisory Board does not have any corresponding targets or incentives. Each year, the Supervisory Board sets specific targets for the Board of Management with various degrees of achievement. Examples of performance parameters include diversity, emissions reductions, the development of sustainable technologies, and the development of sustainable products. The objectives set for 2025 related in particular to employer attractiveness, the quality of sustainability reporting, and assessments of the company's sustainability performance by external rating providers. In terms of their definitions and time horizons, however, these targets are not congruent with the CSRD-related targets set out in the "Parameters and targets" section.

Statement on due diligence

Core elements of due diligence obligation	Chapter in Sustainability Statement
a) Embedding due diligence in governance, strategy, and business model	• ESRS 2 – “The role of the administrative, management, and supervisory bodies”
• ESRS 2 – “Integration of sustainability-related performance in incentive schemes”
• ESRS 2 – “Material impacts, risks, and opportunities, and their interaction with strategy and business model”
b) Engaging with affected stakeholders in all key steps of the due diligence	• ESRS 2 – “Information provided to and sustainability matters addressed by the undertaking’s administrative, management, and supervisory bodies”
• ESRS 2 – “Interest and view of stakeholders, description of the process to identify and assess material impacts, risks, and opportunities”
c) Identifying and assessing adverse impacts	• ESRS 2 – “Description of the process to identify and assess material impacts”
• ESRS 2 – “Risks and opportunities and material impacts, risks, and opportunities, and their interaction with strategy and business model”
d) Taking action to address these adverse impacts	• ESRS E1 – “Actions and resources in relation to climate change policies”
• ESRS E1 – “Transition plan for climate change mitigation”
• ESRS E5 – “Actions and resources related to resource use and circular economy”
• ESRS S1 – “Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions”
• ESRS S2 – “Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions”
• ESRS S4 – “Taking action on material impacts on patients, and approaches to managing material risks and pursuing material opportunities related to patients, and effectiveness of those actions”
• ESRS G1 “Business conduct policies and corporate culture, corruption and bribery”
e) Tracking the effectiveness of these efforts and communicating	• ESRS E1 – “Metrics and targets”
• ESRS E5 – “Metrics and targets”
• ESRS S1 – “Metrics and targets”
• ESRS S2 – “Metrics and targets”
• ESRS S4 – “Metrics and targets”
• ESRS G1 – “Metrics and targets”

Risk management and internal checks on sustainability reporting

As a company with international operations, the STRATEC Group faces various challenges in its sustainability reporting. To address these challenges, STRATEC's risk management system forms part of its corporate management. It is based on an internal control system (ICS), policies and principles governing corporate compliance, and an early-warning risk identification system. The process for preparing the Non-Financial Group Declaration already forms part of the existing ICS.

Strategy

Strategy, business model, and value chain

STRATEC plans, designs, and manufactures automation solutions for highly regulated la-boratory markets. As an OEM partner, STRATEC works together with leading companies in the in-vitro diagnostics and life sciences industries. The Group's range of services comprises both hardware solutions, software solutions, and related consumables, as well as independently marketed consumables. These products are frequently combined into fully integrated system solutions and often approved for sale together with partners' test reagents.

The goods and services offered can be subdivided into four main categories. As in the 2024 financial year, the largest share of total sales in the 2025 financial year was contributed by Service Parts and Consumables. By analogy with the previous year, Analyzer Systems accounted for the second-largest share. In addition, STRATEC offers Development and Services. STRATEC's customers, which are predominantly European and North American companies, market the products virtually worldwide, with the US representing by far the largest individual market within the industry.

GROUP MANAGEMENT REPORT

Excluding temporary employees, STRATEC had a Group-wide total of 1,369 employees in the year under report (previous year: 1,414). Of these, 527 employees worked in Germany (previous year: 540) and 842 employees abroad (previous year: 874).

Within the value chain, STRATEC is responsible for production, development, and research. The production of analyzer systems takes place in Birkenfeld (Germany), Beringen (Switzerland), and Budapest (Hungary), as well as to a very small extent in Shanghai (China). Up-stream module production is primarily outsourced to highly specialized contract suppliers, while end assembly and final test processes are performed at the STRATEC Group's production locations. Function modules and individual parts are procured from indirect (Tier 2) and direct (Tier 1) suppliers that stand out on account of their quality management systems. The materials procured from Tier 2 suppliers include motors, sensors, PCBAs, and valves. Key mechanical and electronic modules, such as pipetting arms, incubators, and centrifuges, are supplied by Tier 1 suppliers. As is the case for all electronics appliances, the upstream products procured by STRATEC include a variety of metals, such as copper, cobalt, and gold.

The components procured from third parties are integrated into STRATEC's products at the aforementioned sites to produce complete analyzer systems. After extensive test processes, these systems are sent to customers, who are themselves responsible for marketing and selling the products to end customers. Consumables are produced in Anif (Austria), Ronkonkoma (USA), and Budapest (Hungary), with the Budapest site only producing liquid consumables. Polymer-based consumables involve a higher degree of vertical integration, as process steps such as prototype production, molding (injection molding), coating, and the combination of components are performed at STRATEC's production sites. The development of STRATEC's products takes place in Birkenfeld (Germany), Cluj (Romania), Anif (Austria), Ronkonkoma (USA), and Budapest (Hungary). The downstream value chain comprises OEM customers in in-vitro diagnostics and life sciences, as well as their end customers. These include clinical laboratories, blood banks, hospitals,

physicians' practices, bio-science research laboratories, and pharmaceutical laboratories. For products within the Diatron brand, there are additional marketing partners which are direct customers of STRATEC. The main benefit to end customers from using STRATEC's products is the high-quality test results they provide. Furthermore, the support provided by STRATEC forms a key aspect of the customer benefit.

Sustainability is one of the four company values on which STRATEC bases its corporate strategy. The overriding objective is to generate sustainable, ecological, and socially responsible growth while at the same time making a valuable contribution to technological advances in life sciences and diagnostics. The sustainability targets referred to in this report apply not only to specific product groups, but are instead relevant for all products and services. This means that no sustainability targets can be reported on or assessed for a specific product group.

Interests and views of stakeholders

One factor of core significance to STRATEC involves closely monitoring which topics and developments are of interest to the stakeholders in its environment. STRATEC therefore maintains an ongoing exchange of information with its stakeholders. This way, the company is able to react to future trends, global developments, and changing market requirements.

Stakeholders are defined as those persons, companies, institutions, and interest groups that influence the success of the company or that are affected by the company's decisions and business activities. Based on the analysis performed by STRATEC in 2024 and the review conducted in 2025, the following persons and groups were identified as the most important stakeholders: customers and patients, investors, employees and employee representatives, suppliers, logistics providers, energy suppliers, lawmakers, the media, ESG rating providers, local communities, society as a whole, and the natural world and environment (stakeholders as defined in the CSRD).

STRATEC accords high priority to maintaining a regular exchange of information with its stakeholders, with this exchange taking a variety of forms depending on the stakeholder category.

STRATEC draws on various dialog formats to communicate with investors, the media, and ESG rating providers. Examples here include the Annual General Meeting, investor relations events, participation and membership in sustainability initiatives (e.g. UN Global Compact, EcoVadis), and investor relations and press activities. STRATEC maintains its exchange of information with customers by way of its customer relationship management, presence and interactions at trade fairs, extensive and ongoing dialogs, participation and membership in industry associations, and participation and memberships in sustainability initiatives. These exchanges also account for the interests of patients, albeit automatically on an indirect basis. Given the company's business model, direct exchange with patients is not expedient. Communication with employees and employee representatives takes place in individual and collective interactions, such as company meetings (town hall meetings), company agreements, annual appraisal meetings, and feedback meetings with employee representatives. Furthermore, STRATEC draws on a variety of formats to exchange information between the Board of Management and company staff and the Works Council. STRATEC interacts with its suppliers and logistics providers by communicating directly and by performing surveys and audits. Communication with local communities, overall society, and stakeholder groups representing the interests of the natural world and the environment takes place via the company's participation in and memberships of sustainability initiatives (e.g. UN Global Compact, EcoVadis) and by way of the whistleblower system. Alongside direct communication with STRATEC's employees, the whistleblower system offers a further communication channel with workers in the value chain. In this context, the Board of Management and the Supervisory Board were also notified of the views and interests of affected stakeholders in respect of the company's sustainability-related impacts. This notification was provided on the one hand by the managers responsible for company departments relevant to sustainability and by the Head of Investor Relations, Sustainability & Corporate Communications, and on the other hand by the audit measures involved in the process of preparing the Annual Report. The Board of Management discharges its reporting duties towards the Supervisory Board.

GROUP MANAGEMENT REPORT

Material impacts, risks, and opportunities, and their interaction with strategy and business model

Impacts/risks/opportunities (Cluster)	ESRS, sub-topic (sustainability aspect)	Location in value chain
Use of non-renewable energies in own company processes	E1, Energy	Actual negative impacts in own operations
Release of greenhouse gases by various emissions sources along the value chain	E1, Climate change mitigation	Actual and potential negative impacts in entire value chain
Relevant products to contain expected increase in infectious diseases caused by climate change	E1, Climate change adaptation	Actual positive impacts in own operations
Potential additional demand for IVD products due to increased prevalence of infectious diseases as a result of climate change	E1, Climate change adaptation	Opportunities in downstream value chain
Mining of and limited recycling options for commodities used in medical appliances impact on natural world and affected workers in value chain	E5, Resource inflows, including resource use	Actual negative impacts in entire value chain
Resource use due to production of products that are difficult to recycle or non-recyclable	E5, Resource outflows related to products and services	Actual negative impacts in downstream value chain
Implementation of relevant measures to avoid corruption and bribery	G1, Corruption and bribery	Actual positive impacts in entire value chain
Implementation of relevant measures to strengthen business conduct culture	G1, Corporate culture	Actual positive impacts in entire value chain
Implementation of further measures to strengthen corporate culture	G1, Corporate culture	Opportunities in entire value chain
A weak corporate culture may lead to a lack of personal identification and thus to higher personnel turnover or lower workplace performance	G1, Corporate culture	Risks in own operations
Contribution made by good working conditions to employee satisfaction	S1, Working conditions	Actual positive impacts in own operations
Promotion of equality, fairness, and workplace safety	S1, Equal treatment and opportunities for all	Actual positive impacts in own operations
The production of electronic products requires the procurement of conflict minerals. The relevant upstream suppliers are often based in countries with low regulatory requirements in terms of working conditions.	S2, Working conditions, other work-related rights	Potentially negative impacts in upstream value chain
A strong quality management system and extensive regulatory requirements safeguard high product quality. This has positive impacts on customers, end consumers, and patients	Company-specific (allocated to S4)	Actual positive impacts in downstream value chain
Unexpected quality problems in the end product may impair the financial success of customers and end consumers and endanger patient safety	Company-specific (allocated to S4)	Potentially negative impacts in downstream value chain

Current and expected impact on business model, value chain, strategy, and decision-making, as well as reaction to impact	Impacts on people and environment	Time horizon	Share of material impacts due to activities of business relationships
The negative impacts have led to various adjustments and measures to mitigate or prevent these	The use of fossil fuels leads to greenhouse gas emissions that contribute to climate change and associated impacts	Short, medium, and long-term	Due to its existing use of non-renewable energies in its own operations, STRATEC's own operations mean that it has a share in the negative impacts
The negative impacts have led to various adjustments and measures to mitigate or prevent these	Contribution to climate change and associated impacts	Short, medium, and long-term	Due to the release of greenhouse gas emissions along the entire value chain, the negative impacts do not result from own operations, but from business relationships
The positive impacts boost the strategic alignment in this area and underline its importance	Contribution to reducing potential impacts of climate change on people	Short and medium-term	Due to STRATEC's products, the positive impacts are accordingly attributable to the company's own operations
The opportunities boost the strategic alignment in this area and underline its importance	n.a.	n.a.	n.a.
The negative impacts have led to various adjustments and measures to mitigate or prevent these	Contribution to resource depletion and associated negative impacts	Short, medium, and long-term	The negative impacts are attributable to own operations and business relationships
The negative impacts have led to adjustments in resource use	Contribution to resource depletion and associated negative impacts	Short, medium, and long-term	The negative impacts are attributable to own operations and business relationships
The positive impacts boost the strategic alignment in this area and underline its importance t	Contribution to reducing corruption and bribery	Short, medium, and long-term	The positive impacts are attributable to own operations
The positive impacts boost the strategic alignment in this area and underline its importance	Contribution to good working conditions for own workforce	Short, medium, and long-term	The positive impacts are attributable to own operations
The opportunities boost the strategic alignment in this area and underline its importance	n.a.	n.a.	n.a.
The negative impacts have led to various adjustments and measures to reduce risks	n.a.	n.a.	n.a.
The positive impacts boost the strategic alignment in this area and underline its importance	Contribution to good working conditions for own workforce	Long-term	The positive impacts are attributable to own operations
The positive impacts boost the strategic alignment in this area and underline its importance	Contribution to good working conditions for own workforce	Short, medium, and long-term	The positive impacts are attributable to own operations
The negative impacts have led to adjustments in the upstream value chain with the aim of mitigating these	Contribution to negative impacts on people and environment related to mining of conflict materials	Short, medium, and long-term	The negative impacts are attributable to own operations and business relationships
The positive impacts boost the strategic alignment in this area and underline its importance	High-quality data results contribute to sound treatment decisions for patients	Short, medium, and long-term	The positive impacts are attributable to own operations
The negative impacts have led to various adjustments and measures to mitigate or prevent these	Unexpected quality problems in the end product may impair the financial success of customers and end consumers and endanger patient safety	Short, medium, and long-term	The potential negative impacts are attributable to own operations

GROUP MANAGEMENT REPORT

The materiality assessment referred to the threshold values reported in the risk management system (low: € 0 to € 1.0 million; medium: > € 1.0 million to € 9.4 million; high: > € 9.4 million to € 36.0 million; very high: > € 36.0 million).

There are no current financial impacts on the company's asset position or cash flows that exceed the defined materiality threshold.

To analyze the resilience of STRATEC's strategy and business model in respect of the impacts, risks, and opportunities identified by the materiality assessment, the company performed a resilience analysis in 2024. Apart from the amendments to IROs, which are described in the "Description of the processes to identify and assess material impacts, risks, and opportunities" section, the company revalidated this analysis in 2025 without any need for other amendments. Building on the findings of the materiality assessment and the climate risk analysis, STRATEC performed a qualitative assessment to determine the extent to which the company is able to address the material opportunities, risks, and impacts. The time horizons considered in the resilience analysis correspond to those assessed in the materiality and climate risk analysis. Within this analysis, the relevant mitigation and adaptation measures were assessed in terms of their implementation status and effectiveness, with the corresponding risks, opportunities, and impacts being further evaluated in this respect.

Within the materiality assessment, STRATEC did not assess any climate-related physical risks or any transition risks as material. STRATEC is able to manage its climate-related impacts and opportunities. Thanks to existing and planned actions (see ESRS E1 "Climate change – Policies related to climate change mitigation and adaptation"), STRATEC is endeavoring to reduce material negative impacts in terms of its energy consumption. Furthermore, STRATEC is able to manage its material impacts in terms of climate change mitigation and adaptation. Particularly by implementing target-driven actions to reduce Scope 1, 2, and 3 emissions and setting clear targets, it can be assumed that STRATEC will significantly reduce its material negative impacts. Given the company's consistent quality management, it is expected that the material positive impact related to the increased demand for test volumes due to climate change will also impact positively on demand for STRATEC's products. The analysis also accounted for the fact that the transition to a lower-carbon and resilient economy might lead to stricter regulations governing the deployment of technologies, as well as to changes in energy consumption and the energy mix. It was assumed that STRATEC would identify any such stricter regulations at an early stage and that, due to its transition plan for climate change mitigation (transition plan), would be prepared for changes in energy consumption and the energy mix.

The material positive impacts on the company's own workforce are consolidated and reinforced by existing policies, actions, and corresponding targets. Furthermore, by adapting its policies and actions STRATEC is also able to address its social impacts on workers in the value chain.

STRATEC's resilience in terms of material impacts and opportunities related to product quality is made possible by its extensive quality management system and associated Quality Management Handbook.

The material positive impacts related to corruption and bribery are consolidated by existing policies and actions. The risks and opportunities related to the corporate culture are also addressed adequately, with great resilience assumed in this respect as well.

By their nature, the results of the resilience analysis involve uncertainties, as resilience also depends on external factors, such as geopolitical events. That is particularly true for climate-related impacts. In summary, the resilience analysis nevertheless shows that, with its targeted actions and consistent quality management system, STRATEC is able to successfully manage the material impacts, risks, and opportunities and can thus safeguard a high level of resilience.

Management of impacts, risks, and opportunities

Disclosures on the materiality assessment process

Description of the processes to identify and assess material impacts, risks, and opportunities

In line with the requirements of ESRS I, the process used to identify the topics material to STRATEC was conducted using the double materiality assessment method. Under this principle, a topic requires classification as material if STRATEC has material impacts on the environment or society (inside-out) or risks and opportunities are assessed as being material for STRATEC's financial situation (outside-in). STRATEC's materiality assessment was performed in the period between September 2023 and June 2024 in accordance with the CSRD and the requirements stipulated in the ESRS. The materiality assessment was performed on Group level on a centralized basis at the parent company and covered the whole scope of consolidation and, in STRATEC's case, thus covered all subsidiaries. The materiality assessment was reviewed in the 2025 financial year to identify any changes. Due to the recent publication of specifications and clarifications by the standard setter, minor amendments arose in respect of the identified IROs. A positive impact in E5 and an opportunity in S4 which in the previous year had been identified as being material are now classified as immaterial.

The materiality assessment refers to the STRATEC Group. In line with ESRS requirements, the materiality assessment considered both the company's own operations, as well as the whole of the upstream and downstream value chains. As a result, the whole value chain was accounted for when identifying and assessing impacts, financial risks and opportunities, and thus in assessing the materiality of topics.

Extensive stakeholder analysis was performed for the materiality assessment. This analysis and the relevant stakeholders thereby identified formed the basis for selecting experts. These contributed stakeholder perspectives to the validation process in the materiality assessment. STRATEC does not involve external stakeholders. External stakeholders are rather accounted for by internal experts in the validation stage. When selecting the experts for the stakeholder perspective, due consideration was given to ensuring an objective assessment.

The materiality assessment was performed in three steps.

Step I: Identification of potential material impacts, risks, and opportunities

The first step involved identifying the potential material impacts, risks, and opportunities (IROs) for the individual topics (longlist). To identify potential material impacts, risks, and opportunities, information was referred to from existing internal sources, such as the existing risk management process and previous reporting.

To identify climate-related risks, STRATEC performed a climate risk analysis in the 2024 financial year. No need for adjustments in the climate risk analysis was identified in 2025 compared with the previous year. Impacts on climate change, such as greenhouse gas emissions, were identified and assessed as part of the materiality assessment. Within the climate risk analysis, the company's locations were reviewed to assess current and future physical and climate-related transition events. This review accounted for the whole value chain and included short-term (until 2030), medium-term (until 2060), and long-term (until 2090) time horizons.

In analyzing physical risks, STRATEC considered its own operations, including material assets and business activities, to assess potentially relevant climate-related risks. The selection of the climate-related risks to be investigated was based, among other sources, on freely available information and on information from the specialist departments responsible for the respective locations. The following climate-related risks were considered: cyclone/hurricane/typhoon, flooding, severe rain, flooding/storm tides, earthquakes, hail, heat-waves, cold snaps, drought, and severe wind/tornados. To ensure that the results are as reliable and dependable as possible, a risk-oriented assessment of extensive climate data was conducted. Using an external climate risk analysis tool, the probability, extent, and duration of the respective climate risks were investigated for the identified locations based on geographical coordinates for the defined time horizons through to 2090. The selection of the time horizons was guided by the lifetimes of the assets, strategic planning, and the capital allocation plan. The assessment was based on the IPCC's "high emission climate" scenario (SSP5-8.5). This assumes strong economic and population growth characterized by continued dependence on fossil fuels and low priority for climate protection measures. This

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results in high emissions and accelerated climate change that might lead to global temperatures rising by 5 °C by the end of the century. Application of this high-emissions trajectory enables the potential "worst case" risks to be identified for STRATEC.

The analysis of climate-related transition risks is based on the "net zero emissions by 2050" scenario (NZE2050) of the International Energy Agency. The version of the IEA scenario for 2050 hereby used is based on current scientific information and is compatible with the Paris Climate Agreement and the 1.5-degree target. Furthermore, the scenario accounts for new technological developments in the fields of renewable energies, energy storage, and carbon removal technologies. This scenario involves the strongest transitional impacts for STRATEC, which is why this analysis was used as the basis to assess climate-related transition risks along the whole of the value chain. The probability of occurrence, amount of damages, and duration of the respective impact were considered.

To determine the impacts, risks, and opportunities related to resource inflows, resource out-flows, and waste, the assets and operations were not reviewed beyond the process outlined here. No consultations were held with affected communities.

To ensure that the impacts, risks, and opportunities related to biodiversity and ecosystems received adequate consideration in the materiality assessment, the impact on biodiversity at the locations in Anif, Beringen, Birkenfeld, Budapest, Ronkonkoma, Shanghai, and New Jersey was analyzed and assessed by reference to the WWF Biodiversity Risk Filter (for further information, see https://riskfilter.org). The following areas with vulnerable biodiversity close to the locations were considered: the rivers Inn, Rhine, and Danube, and the North Atlantic, Yellow Sea, and East China Sea. The results of this analysis led to the conclusion that the activities connected to the locations considered do not present any increased risks for negative impacts in these areas. Based on these findings, no remedial

actions are deemed necessary with regard to biodiversity. The analysis did not account for dependencies, transition risks, physical and systemic risks, or opportunities in connection with biodiversity and ecosystems and their performance. The analysis was conducted without consulting affected communities.

In addition to a description of the impacts identified as relevant for the materiality assessment, central additional information was also recorded in the materiality assessment. With regard to the impacts, this refers to:

The time horizons for the impacts materializing
The location of the impact in the value chain and/or own operations
The differentiation between direct and indirect impacts
The review whether the impact involves a negative human rights-related impact.

The following additional information was recorded for the risks and opportunities identified as relevant for the materiality assessment:

The time horizons for the respective risks or opportunities
The location of the risk/the opportunity in the value chain and/or own operations
The potential connection with identified impacts (interactions between inside-out and outside-in perspectives)
The potential connection with dependencies on natural, human, or social resources.

Step 2: Assessment of identified impacts, risks, and opportunities

The second step involved assessing the IROs previously identified to determine their materiality by reference to the criteria stipulated in ESRS 1. To this end, topic-specific workshops were held with the experts selected. Consideration was also given to the potential connection between the inside-out and outside-in perspectives. For all topic areas, this was performed by analyzing the extent to which an impact leads to a financial opportunity or a financial risk. Conversely, it was also investigated whether financial opportunities or risks might lead to impacts. This way, it was ensured that the impacts, opportunities, and risks were defined and assessed both comprehensively and consistently.

With regard to the assessment criteria, a distinction is to be made between impact materiality (impacts) and financial materiality (risks and opportunities).

Inside-out perspective (impact materiality)

The materiality assessment based on the inside-out perspective makes a distinction between qualitative and quantitative assessments. The qualitative assessment of impacts describes their type (positive or negative, actual or potential), their cause (direct or indirect), their location in the value chain, and the time horizon over which they may arise.

In assessing impacts, the regulations initially require the severity of the impacts to be determined. Pursuant to ESRS 1.45, severity is subdivided into the three dimensions of scale, scope, and remediability. For potential impacts, the severity has to be multiplied by likelihood. A corresponding factor has to be used to state the likelihood. This is intended to ensure that a very severe impact with a low likelihood does not become immaterial. Pursuant to ESRS 1.45 and ESRS 1.46, the assessment of the impacts identified was therefore based on the following criteria.

Scale of impact
Scope of impact
Remediability of impact (only for negative impacts)
Likelihood of impact (only for potential impacts)

The criteria considered are differentiated by type of impact:

For potential negative impacts, all four dimensions in the above list are considered.
For actual negative impacts, no likelihood is considered and the total score is obtained by adding the three criteria considered (scale, scope, remediability).
For actual positive impacts, only the "scale" and "scope" criteria are considered. To obtain a result comparable with those impacts for which the "remediability" criterion is also considered, the sum of the first two criteria is multiplied by a factor of 1.5.
For potential positive impacts, by analogy with potential negative impacts the criterion of likelihood is also considered.
For human rights impacts, the severity pursuant to ESRS 1 (45) has precedence over the likelihood. Such impacts are accounted for in the calculation method with a likelihood of 100%, even if the assessment of their likelihood is lower.

An impact is deemed material if the total score, rounded up to a whole number, is in the upper half of the range.

GROUP MANAGEMENT REPORT

Outside-in perspective (financial materiality)

Pursuant to the requirements of ESRS 1.51, identified risks and opportunities are assessed by reference to the dimensions of the potential scale of the financial effect and its likelihood of occurrence. By analogy with impact materiality, the likelihood here also requires application of the corresponding likelihood factor.

The assessment of opportunities and risks is based on the risk management at the STRATEC Group. This is intended to ensure uniform and consistent valuation of risks, also outside the context of the materiality assessment. To this end, reference is made to the ranges used by risk management to assess risks and opportunities. These ranges are determined on the basis of the earnings strength (asset, financial, and earnings position) of the individual companies. As the materiality assessment is performed on Group level, application is made of the ranges for the STRATEC Group. Sustainability risks have not been prioritized over other types of risk outside the applied methodology.

In assessing opportunities and risks, the CSRD basically provides for the following calculation components:

Financial scale of the opportunity or risk
Likelihood of occurrence of the opportunity or risk

A financial risk or a financial opportunity is deemed material if its total score, rounded up to a whole number, is in the upper half of the range. Risks have basically been reported on a gross basis without accounting for any measures.

In the year under report, the process used within the materiality assessment to identify, assess, and manage impacts and risks had not yet been integrated into general risk management processes.

Step 3: Conclusions on material information

In the third step, the results of the materiality assessment of the IROs are mapped back on to the (im-)materiality of the topics to be assessed. Pursuant to ESRS 1 (34) and (36), the extent to which information is material or necessary to meet the objective of the disclosure requirement may be assessed for information on parameters for material topics. In fulfilling the disclosure requirements, attention is therefore paid to the following points:

The disclosure requirement is waived for reporting requirements on non-material sustainability aspects.
The parameters can be allocated to the dimensions referred to in measuring the im-pacts and measuring the financial risks and opportunities. Accordingly, the results of the impact materiality and financial materiality assessments allow conclusions to be drawn as to the relevance of the parameters for the individual topics to be assessed. If, for example, for a given topic assessed (e.g. waste) the analysis identified only impact materiality, but no financial materiality (i.e. no material financial risks and opportunities were identified), then this means that only the parameters relating to the impacts for the STRATEC Group are material. Accordingly, the parameters allocable to the measurement of financial risks and opportunities are deemed immaterial.
The parameters primarily refer to own operations and only in exceptional cases (e.g. Scope 3 emissions) to the value chain. If the parameters for a given topic refer to own operations, but the corresponding sustainability aspect has only been classified as material with regard to the value chain, then the corresponding parameters are classified as immaterial.
In addition, there are individual reporting requirements that are only relevant if certain conditions are met. For example, it is only required to report on internal GHG pricing systems (E1-8) or on carbon removals and storage (E1-7, (58a) (58b)) if the company has corresponding systems or activities. If these conditions are not met, then the corresponding disclosure requirements are also deemed immaterial.

Pursuant to ESRS 1 (34b), the resultant data points were then assessed to determine the relevance of the information with regard to the objective of the disclosure requirement.

The resultant disclosure requirements are presented in the table below.

Disclosure requirements in ESRS covered by the undertaking's Sustainability Statement

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ESRS S2 – Workers in the value chain	Reference in CSRD report
ESRS 2 SBM-2	Interests and views of stakeholders
ESRS 2 SBM-3	Impacts, risks, and opportunities, and their interaction with strategy and business model
S2-1	Policies related to value chain workers
S2-2	Processes for engaging with value chain workers about impacts
S2-3	Processes to remediate negative impacts and channels for value chain workers to raise concerns
S2-4	Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions
S2-5	Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities
ESRS S4 – Patient safety (company-specific)	Reference in CSRD report
---	---
ESRS 2 SBM-2	Interests and views of stakeholders
ESRS 2 SBM-3	Material impacts, risks, and opportunities, and their interaction with strategy and business model
ESRS 2 MDR-P	Policies to address material sustainability aspects
ESRS 2 MDR-A	Actions and resources in relation to material sustainability aspects
ESRS 2 MDR-T	Monitoring effectiveness of policies and actions by setting targets
ESRS S4 – General disclosures: Section – Interests and views of stakeholders
---
ESRS S1 – General disclosures: Section – Material impacts, risks, and opportunities, and their interaction with strategy and business model
ESRS S2 – Workers in the value chain: Section – Material impacts, risks, and opportunities, and their interaction with strategy and business model
ESRS S3 – Workers in the value chain: Section – Processes to remediate negative impacts and channels for value chain workers, and effectiveness of those actions
ESRS S4 – Patient safety (company-specific): Section – Taking action on material impacts on patients, and approaches to managing material risks and pursuing material opportunities related to patients, and effectiveness of those actions
ESRS G1 – Business conduct	Reference in CSRD report
---	---
ESRS 2 GOV-I	The role of the administrative, supervisory, and management bodies
ESRS 2 IRO-I	Description of the processes to identify and assess material impacts, risks, and opportunities
G1-I	Corporate culture and business conduct policies
G1-3	Prevention and detection of corruption and bribery
G1-4	Incidents of corruption and bribery

GROUP MANAGEMENT REPORT

List of datapoints in general and topic-related standards that result from other EU legislation

Disclosure requirement and related datapoint resulting from other EU legislation	Reference to other EU legislation
ESRS 2 GOV-1 § 21(d)
Gender diversity in management and supervisory bodies	• SFDR:
Indicator No. 13 in Annex I Table I
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816, Annex II
ESRS 2 GOV-1 § 21(e)
Percentage of board members who are independent	• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816, Annex II
ESRS 2 GOV-4 § 30
Statement on due diligence	• SFDR:
Indicator No. 10 in Annex I Table 3
ESRS 2 SBM-1 § 40(d) i.
Involvement in activities related to fossil fuels	• SFDR:
Indicator No. 4 in Annex I Table I
• Pillar 3: Article 449a of Regulation (EU) No. 575/2013; Commission Implementing
Table I: Qualitative information on Environmental risk and Table 2: Qualitative
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816, Annex II
ESRS 2 SBM-1 § 40(d) ii.
Involvement in activities related to chemical production	• SFDR:
Indicator No. 9 in Annex I Table 2
• Benchmark regulation: Delegated Regulation (EU) 2020/1816, Annex II
ESRS 2 SBM-1 § 40(d) iii.
Involvement in activities related to controversial weapons	• SFDR:
Indicator No. 14 in Annex I Table I
• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 12 (I)
Delegated Regulation (EU) 2020/1816, Annex II
ESRS 2 SBM-1 § 40(d) iv.
Involvement in activities related to cultivation and production of tobacco	• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 12 (I)
Delegated Regulation (EU) 2020/1816, Annex II
ESRS E1-1 § 14
Transition plan to achieve climate neutrality by 2050	• EU Climate Act: Regulation (EU) 2021/1119, Article 2 (I)
ESRS E1-1 § 16(g)
Undertakings excluded from the Paris-aligned benchmarks	• Pillar 3: Article 449a
Regulation (EU) No. 575/2013; Commission Implementing Regulation (EU)
Template I: Banking book – Climate change transition risk: credit quality of and residual maturity
• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 12 (I)
ESRS E1-4 GHG § 34
GHG emission reduction targets	• SFDR:
Indicator No. 4 in Annex I Table 2
• Pillar 3: Article 449a
Regulation (EU) No. 575/2013; Commission Implementing Regulation (EU)
Template 3: Banking book – Climate change transition risk: Alignment metric
• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 6
ESRS E1-5 § 38
Energy consumption from fossil fuels disaggregated by sources (only high climate impact sectors)	• SFDR:
Indicator No. 5 in Annex I Table I
Indicator No. 5 in Annex I Table 2
ESRS E1-5 § 37
Energy consumption and mix	• SFDR:
Indicator No. 5 in Annex I Table I
ESRS E1-5 § 40–43
Energy intensity associated with activities in high climate impact sectors	• SFDR:
Indicator No. 6 in Annex I Table I
ESRS E1-6 § 44
Gross Scopes 1, 2, 3, and total GHG emissions	• SFDR:
Indicators No. 1 and 2 in Annex I Table I
• Pillar 3: Article 449a
Regulation (EU) No. 575/2013; Commission Implementing Regulation (EU)
Template I: Banking book – Climate change transition risk: credit quality of and residual maturity
• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 5 (I),
ESRS E1-6 § 53–55
Gross GHG emissions intensity	• SFDR:
Indicator No. 3 Table I in Annex I
• Pillar 3: Article 449a Regulation (EU) No. 575/2013; Commission Implementing
Template 3: Asset book – Climate change transition risk: Alignment metric
• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Article 8 (I)
ESRS E1-7 § 56
GHG removals and carbon credits	• EU Climate Act: Regulation (EU) 2021/1119, Article 2 (I)
ESRS E1-9 § 66
Exposure of the benchmark portfolio to climate-related physical risks	• Benchmark regulation: Delegated Regulation (EU) 2020/1818, Annex II
Delegated Regulation (EU) 2020/1816, Annex II
ESRS E1-9 § 66(a)
Disaggregation of monetary amounts by acute and chronic physical risk
ESRS E1-9 § 66(c)
Location of significant assets at material physical risk	• Pillar 3: Article 449a of Regulation (EU) No. 575/2013;
Commission Implementing Regulation (EU) 2022/2453 of the Commission;
Template 5: Banking book – Climate change physical risk: Exposures subject
ESRS E1-9 § 67(c)
Breakdown of the carrying value of its real estate assets by energy-efficiency classes	• Pillar 3: Article 449a of Regulation (EU) No. 575/2013;
Commission Implementing Regulation (EU) 2022/2453, Paragraph 34;
Template 2: Banking book – Climate change transition risk: Loans collateral property – Energy efficiency of the collateral

	Reference in CSRD report (chapter)	Assessment of materiality ("material" / "immaterial")
Annex II	The role of the administrative, management, and supervisory bodies	Material
Annex II	The role of the administrative, management, and supervisory bodies	Material
	Statement on due diligence	Material
Identifying Regulation (EU) 2022/2453, receive information on Social risks Annex II		Immateri al
		Immateri al
		Immateri al
		Immateri al
		Immateri al
	Transition plan for climate change mitigation	Material
2022/2453, exposures by sector, emissions, letterers d to g and Article 12 (2)	Transition plan for climate change mitigation	Material
2022/2453, acts	Transition plan for climate change mitigation	Material
		Immateri al
	Energy consumption and mix	Material
	Energy consumption and mix	Material
2022/2453, exposures by sector, emissions, Article 6, and Article 8 (1)	Gross Scopes 1, 2, 3, and total GHG emissions	Material
Identifying Regulation (EU) 2022/2453,	Greenhouse gas intensity	Material
	Greenhouse gas removals	Material
		Not reported (phase-in)
2022/2453, Paragraphs 46 and 47; to physical risk		Not reported (phase-in)
Not reported by immovable		Not reported (phase-in)

GROUP MANAGEMENT REPORT

Disclosure requirement and related datapoint resulting from other EU legislation	Reference to other EU legislation
ESRS E1-9 § 69
Degree of exposure of the portfolio to climate-related opportunities	• Benchmark regulation: Commission Delegated Regulation (EU), 2020/1818,
ESRS E2-4 § 28
Amount of each pollutant listed in Annex II of the E-PRTR Regulation (European Pollutant Release and Transfer Register) emitted to air, water, and soil	• SFDR:
Indicator No. 8 in Annex I Table 1 Indicator No. 2 in Annex I Table 2 Indicator No. 3 in Annex I Table 2
ESRS E3-1 § 9
Water and marine resources	• SFDR:
Indicator No. 7 in Annex I Table 2
ESRS E3-1 § 13
Dedicated policy	• SFDR:
Indicator No. 8 in Annex I Table 2
ESRS E3-1 § 14
Sustainable oceans and seas	• SFDR:
Indicator No. 12 in Annex I Table 2
ESRS E3-4 § 28(c)
Total water recycled and reused	• SFDR:
Indicator No. 6.2 in Annex I Table 2
ESRS E3-4 § 29
Total water consumption in m3 per net revenue in own operations	• SFDR:
Indicator No. 6.1 in Annex I Table 2
ESRS 2- SBM-3 - E4 § 16(a) I.	• SFDR:
Indicator No. 7 in Annex I Table 1
ESRS 2- SBM-3 - E4 § 16(b)	• SFDR:
Indicator No. 10 in Annex I Table 2
ESRS 2- SBM-3 - E4 § 16(c)	• SFDR:
Indicator No. 14 in Annex I Table 2
ESRS E4-2 § 24(b)
Sustainable land / agriculture practices or policies	• SFDR:
Indicator No. 11 in Annex I Table 2
ESRS E4-2 § 24(c)
Sustainable oceans / seas practices	• SFDR:
Indicator No. 12 in Annex I Table 2
ESRS E4-2 § 24(d)
Policies to address deforestation	• SFDR:
Indicator No. 15 in Annex I Table 2
ESRS E5-5 § 37(d)
Non-recycled waste	• SFDR:
Indicator No. 13 in Annex I Table 2
ESRS E5-5 § 39
Hazardous and radioactive waste	• SFDR:
Indicator No. 9 in Annex I Table 1
ESRS 2- SBM3 - S1 § 14(f)
Risk of incidents of forced labor	• SFDR:
Indicator No. 13 in Annex I Table 3
ESRS 2- SBM3 - S1 § 14(g)
Risk of incidents of child labor	• SFDR:
Indicator No. 12 in Annex I Table 3
ESRS S1-1 § 20
Human rights policy commitments	• SFDR:
Indicator No. 9 in Annex I Table 3 Indicator No. 11 in Annex I Table 1
ESRS S1-1 § 21
Due diligence policies on issues addressed by the fundamental International Labour Organization Conventions 1 to 8	• SFDR:
Reference regulation: Commission Delegated Regulation (EU) 2020/1816,
ESRS S1-1 § 22
Processes and measures for preventing trafficking in human beings	• SFDR:
Indicator No. 11 in Annex I Table 3
ESRS S1-1 § 23
Workplace accident prevention policy or management system	• SFDR:
Indicator No. 1 in Annex I Table 3
ESRS S1-3 § 32(c)
Grievance handling mechanism	• SFDR:
Indicator No. 5 in Annex I Table 3
ESRS S1-14 § 88(b) and (c)
Number of fatalities and number and rate of work-related accidents	• SFDR:
Indicator No. 2 in Annex I Table 3
• Reference regulation: Commission Delegated Regulation (EU) 2020/1816,
ESRS S1-14 § 88(e)
Number of days lost to work-related injuries, accidents, fatalities, or illness	• SFDR:
Indicator No. 3 in Annex I Table 3
ESRS S1-16 § 97(a)
Unadjusted gender pay gap	• SFDR:
Indicator No. 12 in Annex I Table 1
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
ESRS S1-16 § 97(b)
Excessive CEO pay ratio	• SFDR:
Indicator No. 8 in Annex I Table 3
ESRS S1-17 § 103(a)
Incidents of discrimination	• SFDR:
Indicator No. 7 in Annex I Table 3
ESRS S1-17 § 104(a)
Non-respect of UNGPs on Business and Human Rights and OECD Guidelines	• SFDR:
Indicator No. 10 in Annex I Table 1 Indicator No. 14 in Annex I Table 3
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816, Delegated Regulation (EU) 2020/1818 Article 12 (1)
ESRS 2- SBM3 – S2 § 11(b)
Significant risk of child labor or forced labor in value chain	• SFDR:
Indicators No. 12 and 13 in Annex I Table 3

	Reference in CSRD report (chapter)	Assessment of materiality ("material" / "immaterial")
Annex II		Not reported (phase-in)
Error No. I in		Immaterial
		Immaterial
		Immaterial
		Immaterial
		Immaterial
		Immaterial
		Immaterial
	Description of processes for materiality assessment	Material
	Description of processes for materiality assessment	Material
	Description of processes for materiality assessment	Material
		Immaterial
		Immaterial
		Immaterial
		Immaterial
		Immaterial
	Material impacts, risks, and opportunities, and their interaction with strategy and business model	Material
	Material impacts, risks, and opportunities, and their interaction with strategy and business model	Material
	Policies related to own workforce	Material
Annex II	Policies related to own workforce	Material
	Policies related to own workforce	Material
	Policies related to own workforce	Material
	Processes to remediate negative impacts and channels for own workers to raise concerns	Material
Annex II	Health and safety metrics	Material
	Health and safety metrics	Material
Annex II	Compensation metrics (pay gap and total compensation)	Material
	Compensation metrics (pay gap and total compensation)	Material
	Incidents, complaints, and severe human rights impacts	Material
Annex II,	Incidents, complaints, and severe human rights impacts	Material
	Material impacts, risks, and opportunities, and their interaction with strategy and business model	Material

GROUP MANAGEMENT REPORT

Disclosure requirement and related datapoint resulting from other EU legislation	Reference to other EU legislation
ESRS S2-1 § 17
Human rights policy commitments	• SFDR:
Indicator No. 9 in Annex I Table 3 Indicator No. 11 in Annex I Table 1
ESRS S2-1 § 18
Policies related to value chain workers	• SFDR:
Indicators No. 11 and 4 in Annex I Table 3
ESRS S2-1 § 19
Non-respect of UNGPs on Business and Human Rights and OECD Guidelines	• SFDR:
Indicator No. 10 in Annex I Table 1
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
Delegated Regulation (EU) 2020/1818 Article 12 (1)
ESRS S2-1 § 19
Due diligence policies on issues addressed by the fundamental International
Labour Organization Conventions 1 to 8	• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
ESRS S2-4 § 36
Human rights issues and incidents connected to its upstream and downstream value chain	• SFDR:
Indicator No. 14 in Annex I Table 3
ESRS S3-1 § 16
Human rights policy commitments	• SFDR:
Indicator No. 9 in Annex I Table 3 Indicator No. 11 in Annex I Table 1
ESRS S3-1 § 17
Non-respect of UNGPs on Business and Human Rights and OECD Guidelines	• SFDR:
Indicator No. 10 in Annex I Table 1
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
Delegated Regulation (EU) 2020/1818 Article 12 (1)
ESRS S3-4 § 36
Human rights issues and incidents	• SFDR:
Indicator No. 14 in Annex I Table 3
ESRS S4-1 § 16
Policies related to consumers and end users	• SFDR:
Indicator No. 9 in Annex I Table 3 Indicator No. 11 in Annex I Table 1
ESRS S4-1 § 17
Non-respect of UNGPs on Business and Human Rights and OECD Guidelines	• SFDR:
Indicator No. 10 in Annex I Table 1
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
Delegated Regulation (EU) 2020/1818 Article 12 (1)
ESRS S4-4 § 35
Human rights issues and incidents	• SFDR:
Indicator No. 14 in Annex I Table 3
ESRS G1-1 § 10(b)
United Nations Convention against Corruption	• SFDR:
Indicator No. 15 in Annex I Table 3
ESRS G1-1 § 10(d)
Protection of whistleblowers	• SFDR:
Indicator No. 6 in Annex I Table 3
ESRS G1-4 § 24(a)
Fines for violation of anti-corruption and anti-bribery laws	• SFDR:
Indicator No. 17 in Annex I Table 3
• Benchmark regulation: Commission Delegated Regulation (EU) 2020/1816,
ESRS G1-4 § 24(b)
Standards of anti-corruption and anti-bribery laws	• SFDR:
Indicator No. 16 in Annex I Table 3

	Reference in CSRD report (chapter)	Assessment of materiality ("material" / "immaterial")
	Policies related to value chain workers	Material
	Policies related to value chain workers	Material
Annex II,	Policies related to value chain workers	Material
Annex II	Policies related to value chain workers	Material
	Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions	Material
		Immaterial
Annex II,		Immateri al
		Immateri al
		Immateri al
Annex II,		Immateri al
		Immateri al
		Immateri al
	Business conduct and corporate culture policies	Material
Annex II	Violation of anti-corruption and anti-bribery laws	Material
	Business conduct and corporate culture, corruption and bribery (MDR)	Material

GROUP MANAGEMENT REPORT

ESRS E1 – Climate Change

Integration of sustainability-related performance in incentive schemes

The Supervisory Board sets personal targets for the members of the Board of Management which cover both organizational and sustainability targets. In 2025, these did not include any climate-related targets.

The percentage of remuneration linked to climate-related considerations therefore amounts to 0% for 2025 (previous year: 0%).

Strategy

Transition plan for climate change mitigation

One of the greatest risks and challenges facing the 21st century is the further advance in climate change and the resultant consequences for current and future generations. In view of this, STRATEC accords great priority to protecting the climate and the associated necessary reduction in greenhouse gas emissions. Back in the 2020 financial year, the STRATEC Group already set itself a science-based climate target based on the agreements reached in the Paris Climate Agreement to limit global warming to well below 2°C. This target provided for reducing absolute greenhouse gas emissions (Scope 1 and Scope 2) by 30% by 2030 compared with their 2019 levels. Given the measures introduced in recent years, such as the almost complete conversion in the group-wide electricity supply to green electricity from alternative energy sources, proprietary electricity generation from photovoltaics systems, and the gradual electrification of the car pool, total Scope 1 and market-based Scope 2 emissions in the 2024 financial year were already 36.4% lower than in 2019.

Against this backdrop and in response to the growing urgency of global climate protection, the Board of Management of STRATEC decided to further significantly extend the company's ambitions and targets for climate change mitigation. In the 2024 financial year, the reduction target for group-wide Scope 1 and Scope 2 emissions in place since 2020 was thus adapted to a 1.5-degree target (see the "Targets related to climate change mitigation and adaptation" section). In addition, the company for the first time set targets for group-wide Scope 3 emissions, as well formulating new long-term targets that are also consistent with the 1.5-degree target in the Paris Climate Agreement. The targets hereby developed, which are presented in detail in the "Targets related to climate change mitigation and adaptation" section, are based on scientific insights and

were validated by the Science Based Targets initiative (SBTi) on February 12, 2025. The company has thus obtained certification from an external body that its targets are actually compatible with the Paris Climate Agreement.

To align its strategy and business model to a sustainable economy and ensure that they are consistent with limiting global warming to 1.5°C in accordance with the Paris Climate Agreement, STRATEC has compiled a transition plan for climate change mitigation (transition plan). This sets out the strategic measures and steps required to reach the company's climate change mitigation targets.

The transition plan defines greenhouse gas emission reduction targets for the years 2032 and 2045. Due to the linear derivation of emission reductions, the SBTi's emission reduction pathway also includes reduction figures for 2025 and 2030. These have nevertheless not been formulated as explicit targets as, particularly for Scope 1 emissions, the respective reductions are not automatically expected to show a linear development.

STRATEC's potentially locked-in greenhouse gas emissions refer to the emissions reported in Scopes 3.2 and 3.11. These include emissions from purchased capital goods and from electricity consumed by sold products over the whole of their lifecycles. Compared with the total emissions of the STRATEC Group, Scope 3.2 only accounts for a low volume of emissions and is therefore of subordinate significance for achieving the emission reduction targets. By contrast, the CO₂ emissions in the Scope 3.11 category (use of sold products over the whole of their lifecycles) account for a not inconsiderable share of total emissions. As the electricity mix is expected to be decarbonized in the long term, however, the CO₂ emissions from sold products do not present a risk to achievement of the company's climate targets.

Due to its low degree of vertical integration, the only machines classifiable as energy intensive at STRATEC are those used in injection molding production. A large share of these machines is nevertheless operated with electricity from renewable energies.

To achieve the Scope 1 and Scope 2 emission reduction targets, the most important decarbonization levers involve increasing energy efficiency, using renewable energies, and electrifying the vehicle pool. For the Scope 3 target, the primary decarbonization lever involves cooperating with suppliers with regard to reducing emissions. STRATEC assumes that the

contribution made by the decarbonization levers towards achieving greenhouse gas emission reduction targets in the individual categories (Scopes 1, 2, and 3) will approximately correspond to the total reductions expected from the respective action (see the “Actions and resources in relation to climate change policies” section).

Specific measures to achieve the Scope 1 and Scope 2 targets are described in the transition plan. These involve converting the electricity supply at the US locations to green electricity from alternative energy sources, replacing gas and oil-powered heating systems across the Group with heat pumps, and improving the efficiency of air-conditioning systems in the STRATEC Group's buildings. Furthermore, the predominant share of the vehicle park is to be electrified. With regard to Scope 3 targets, the most important action involves extending cooperation with suppliers and logistics service providers with regard to less $\mathrm{CO}_{2}$-intensive solutions and production techniques in order to reduce emissions along the whole value chain.

Via the company values, climate protection is firmly embedded in the corporate strategy. The transition plan and the actions and targets set out therein have been approved by the Board of Management, as have the greenhouse gas emission reduction targets. The Board of Management sets corresponding targets for the first management level in order to embed the transition plan in and coordinate it with the business strategy. No expenditure in excess of the defined materiality threshold of € 1 million has been budgeted to implement STRATEC's transition plan. STRATEC is not exempted by the criteria stated in the Regulation on Benchmarks for Climate-Related Change from the EU benchmarks coordinated with the Paris Climate Agreement.

Material impacts, risks, and opportunities, and their interaction with strategy and business model

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Management of impacts, risks, and opportunities

Description of the processes to identify and assess material climate-related impacts, risks, and opportunities

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Policies related to climate change mitigation and adaptation

STRATEC has embedded the sustainability aspects of “Energy”, “Promoting climate change mitigation” and “Climate change adaptation” in its Environmental Policy, which is intended to implement the company's environmental targets and to promote/counter the potential and actual positive/negative impacts identified in the materiality assessment.

To achieve its sustainability targets, the company has introduced an Environmental Policy. Among other aspects, this stipulates that STRATEC is endeavoring to reduce its greenhouse gas emissions by promoting the use of renewable energies. This therefore covers the sustainability aspects of "Energy" and "Climate change mitigation", as well as their current negative impacts. Furthermore, the policy describes the company's cooperation with partners with regard to the "Climate change mitigation" sustainability aspect, as well as the associated material positive and negative impacts. STRATEC expects its suppliers to comply with environmental laws and directives and aims only to cooperate with suppliers who are also interested in ecological sustainability. As STRATEC is also endeavoring to minimize its Scope 3 emissions, the Environmental Policy stipulates that the company intends to expand its cooperation with partners in respect of lower-carbon input products. Moreover, the Environmental Policy defines the target of continually improving the company's environmental performance, avoiding pollution, and complying with all applicable environmental laws, local requirements, and guidelines. The policy creates a clear framework for Group-wide action in this respect.

GROUP MANAGEMENT REPORT

In further promoting the positive impact of the "Climate change adaptation" sustainability aspect, continuous improvement of product quality is essential. This in turn will contribute towards effectively and reliably containing the increased prevalence of infectious diseases expected to result from climate change. The Quality Management Handbook is relevant in this respect. By continually improving quality standards and permanently monitoring new requirements, the handbook and the processes it sets out ensure that STRATEC is prepared to the best possible extent for the challenges presented by climate change. The "Climate change adaptation" sustainability aspect also harbors an opportunity for STRATEC. Scientific studies assume that the advance in global warming will be accompanied by greater prevalence of infectious diseases, leading to growing demand for diagnostics tests. The company is of course not proactively pursuing this opportunity. In view of this, it does not have any policies, actions, or targets in this respect.

The Environmental Policy and the Quality Management Handbook are described below.

With this policy, STRATEC also commits itself to complying with all applicable local, national, and international environmental laws, regulations, and standards. Among others, these include Directives such as REACH, RoHS, WEEE, the Packaging and Packaging Waste Di-rective (PPWD), and battery regulations. In addition, the company will continually monitor any amendments in environmental legislation and update its policy as appropriate.

Furthermore, STRATEC's Environmental Policy describes the company's efforts to assume responsibility in the areas of climate protection, pollution avoidance, sustainable product design, and cooperation with partners. With this policy, STRATEC aims to achieve continuous improvements in environmental protection, sustainable product design, and energy efficiency. The principles set out in this policy provide the basis for the Board of Management to incorporate environmental aspects into all business decisions and activities. The global environmental targets and environmental policies are relevant to all STRATEC employees who are responsible for determining the company's environmental measures, initiatives, and programs.

The policy has been in force across the Group since October 18, 2024 and will be reviewed by the ESG Board every two years to ensure that its contents are up to date. Each new or revised version will be approved by the Board of Management of STRATEC SE

and subsequently communicated to all employees and made available to stakeholders on the company's website. The Environmental Policy is applicable on a group-wide basis for STRATEC SE and its subsidiaries, including all members of the Board of Management and employees. It is also embedded in the Quality Management Handbook and the processes to monitor compliance with this.

The Quality Management Handbook, including the process descriptions and work instructions also applicable, provides a binding framework for all activities of all employees and managers at the Birkenfeld location and forms the basis for the company's quality management system. The scope of application covers the whole spectrum of design, manufacture, and marketing of systems and services at the company's headquarters and production location in Birkenfeld and is within the responsibility of the Board of Management. Each subsidiary has its own quality management handbook with contents adapted to the various circumstances in order to ensure optimal coverage of all relevant topics. The Quality Management Handbook is based on the requirements of the Directives and Regulations applicable in the EU, as well as on further national legislation.

Staff at the locations in Birkenfeld, Beringen, and Anif receive the Quality Management Handbook via a document management system as an information assignment and are supposed to confirm receipt. At other locations, the handbook is assigned using other means of communication. This way, it is ensured that staff acknowledge the handbook and commit to complying with the requirements set out therein. Furthermore, internal quality management audits are performed to review compliance with the standards and processes thereby stipulated.

Actions and resources in relation to climate change policies

STRATEC has introduced or upheld extensive actions to implement its Environmental Policy and the transition plan, and thus to achieve its emissions reduction targets.

One highly significant factor in achieving Scope 1 emission reduction targets involves the use of renewable energies. One planned action entails the group-wide replacement of gas and oil heating systems with heat pumps by 2045. At the locations in Birkenfeld and in Switzerland, this replacement is scheduled to take place by 2032 already. The replacement is expected to reduce emissions by 168.0 tonnes of CO_{2}e by 2032 and by 394.7 tonnes of CO_{2}e by 2045.

The gradual improvement in the efficiency of air-conditioning systems due to regular maintenance and, where appropriate, replacement of the systems at the buildings of the STRATEC Group and the reduction in the use of coolants by 60% by 2045 represent further important measures to enhance energy efficiency and reduce emissions. This action is expected to produce a reduction of 87.8 tonnes of CO_{2}e by 2045.

As the target formulated in 2021 for the electrification of the vehicle pool at the company's headquarters in Birkenfeld was achieved in the 2025 financial year, as part of the transition plan the company formulated a new, group-wide target for electrifying its vehicle pool. By 2032, the vehicle pool should be fully electrified. This action has the potential to reduce Scope 1 emissions by 244.4 tonnes of CO_{2}e by 2032. The group-wide share of fully electric vehicles rose from 22.8% in the previous year to 24.5% in the 2025 financial year.

The aforementioned actions were developed and adopted in the 2024 financial year and upheld in the 2025 financial year.

With regard to reducing Scope 2 emissions, the transition plan provides for converting the electricity supply at the US locations to green electricity from renewable sources. According to the transition plan, this action is scheduled to be completed by 2032. However, it was already largely implemented in the 2025 financial year. The share of green electricity already amounted to 85.4% in the 2025 financial year. When implemented across all locations, this action should reduce emissions by 284.3 tonnes of CO_{2}e compared with the base year.

Furthermore, at its Birkenfeld location (DE), the company has generated green electricity with photovoltaics since 2011. Solar modules with total nominal capacities of more than 330 kWp are installed there. At the Beringen location (CH), renewable energy has been supplied since 2016 by a photovoltaics system with a nominal capacity of 95 kWp. At the Cluj location (RO), solar modules with a capacity of 38 kWp were installed in the 2025 financial year. These systems generated a total of 431 MWh of green electricity in the 2025 financial year (previous year: 374 MWh). The proportion of own use amounted to 55.0% (previous year: 51.0%). This saved 56.1 tonnes of CO_{2}e in the year under report (previous year: 46.5 tonnes of CO_{2}e). The generation of green electricity is due to be continued in the years ahead.

Alongside proprietary generation of green electricity, the remaining electricity consumed is mostly procured in the form of green electricity. With the exception of the US locations, the Group converted nearly all of its electricity supply to green electricity from alternative energy sources in the 2020 financial year already. The procurement of green electricity is also firmly planned for the years ahead. No additional reduction is to be expected in greenhouse gases compared with the base year defined in the transition plan, however, as this action had already been fully implemented in 2023.

To achieve its reduction target for Scope 3 emissions, STRATEC is endeavoring to extend its engagement with suppliers and logistics service providers. Here, it is planned to extend cooperation on less CO_{2}-intensive solutions and production technologies. The total contribution to be made by this decarbonization lever towards achieving the emission reduction targets in Scope 3 has not yet been quantified.

Due to the low volume of financial resources required, the risk of non-implementation of the planned Scope 1 and Scope 2 measures is assessed by the company as low. For Scope 3, by contrast, personnel resources in particular must be available to cover the increased engagement with suppliers.

GROUP MANAGEMENT REPORT

Metrics and targets

Targets related to climate change mitigation and adaptation

STRATEC has introduced targets related to climate change mitigation and adaptation.

Within its transition plan, the company has adopted targets for reducing group-wide greenhouse gas emissions that are compatible with the 1.5-degree target in the Paris Climate Agreement. These targets, which were developed with due consideration of the requirements for science-based target setting promulgated by the SBTi, were validated by the SBTi in February 2025. The SBTi is a joint initiative of the CDP, the United Nations Global Compact, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF). Furthermore, in setting the targets the company also took due account of the methods and requirements of various ESG rating agencies.

Specifically, without accounting for offsetting measures STRATEC aims to reduce its absolute greenhouse gas emissions (Scope 1 and Scope 2) by 50.4% by 2032 compared with their 2023 levels. Thereoff, 73.4% are allocable to the Scope 1 category and 26.6% to the Scope 2 category. For Scope 2 emissions, the company has calculated the reductions using the market-based method. Scope 3 emissions are also to be reduced by 50.4% by 2032 compared with their 2023 levels.

The greenhouse gases accounted for here are coherent with the greenhouse gas inventory reported under E1-6. The emissions include all greenhouse gases requiring consideration pursuant to the GHG Protocol (CO₂, CH₄, N₂O, SF₆, NF3, HFCs, and PFCs). The long-term target, without accounting for offsetting measures, is to reduce the company's total emissions in Scope 1, Scope 2, and Scope 3 by 90% by 2045 and, in addition, to achieve net zero emissions in the whole of the value chain by 2045. Here too, 2023 is referred to as the base year. In selecting the benchmark and base year, it was ensured that such year was representative and not affected by any exceptional external or internal events. Furthermore, for 2023 STRATEC significantly extended its CO₂ balance sheet to include previously unaccounted for emission sources in Scope 3 and thus for the first time compiled a complete CO₂ balance sheet.

Fulfillment of the actions also depends on factors which STRATEC is unable to influence. This was accounted for when setting targets. Successful implementation of all the reduction targets expected under "Actions and resources in relation to climate change policies" and the exhausting of all reduction potential would therefore lead to the emission reduction targets being surpassed.

The following table presents the base values for the 2023 base year by scope and reduction target by 2032.

	Base value (2023)	Target value by 2032	Reduction target by 2032 in %	Target value by 2045	Reduction target by 2045 in %
Scope 1 (t CO₂e)	785.3	389.5	-50.4	-	-
Scope 2 (t CO₂e) (market-based)	284.3	141.0	-50.4	-	-
Scope 3 (t CO₂e)	69,823.6	34,632.5	-50.4	-	-
Total GHG emissions (t CO₂e)	70,893.2	35,163.0	-50.4	7,089.3	-90.0

STRATEC's climate targets were developed in accordance with SBTi criteria for achievement of the Paris 1.5-degree target and validated by the SBTi on February 12, 2025.

Energy consumption and mix

	2025	2024
Total energy consumption (MWh)	12,355.3	11,308.4
Total energy consumption from fossil sources (MWh)	4,133.6	5,069.9
Fuel consumption from coal and coal products (MWh)	-	-
Fuel consumption from crude oil and petroleum products (MWh)	871.8	985.4^{1}
Fuel consumption from natural gas (MWh)	2,846.3	2,515.4
Fuel consumption from other fossil sources (MWh)	-	-
Consumption of purchased or acquired electricity, heat, steam, or cooling from fossil sources (MWh)	415.5	1,569.1
Total energy consumption from nuclear sources (MWh)	-	-
Total energy consumption from renewable sources (MWh)	8,269.5	6,238.5
Fuel consumption from renewable sources (MWh)	47.8	46.5
Consumption of purchased or acquired electricity, heat, steam, or cooling from renewable sources (MWh)	7,984.6	6,001.3
Consumption of self-generated renewable energy not involving fuel (MWh)	237.1	190.7
Energy generation	430.9	374.0
Generation of non-renewable energy (MWh)	-	-
Generation of renewable energy (MWh)	430.9	374.0
Total energy consumption per net revenue from activities in high climate impact sectors (MWh/currency unit)^{2}	0.000049	0.000044

1 The data was mostly calculated based on the invoices received from each energy supplier. Where no invoices were yet available for individual months due to the period involved, the values were estimated based on historic figures. To calculate the fuel consumption of the vehicle pool, in cases where no direct liter consumption figures were available consumption was estimated by calculating the liter consumption figure per 100 km for the respective vehicle type. Furthermore, in cases where no real-time kilometer figures were available, the annual kilometers driven were estimated by applying the kilometer allowance agreed in the lease contract. Apart from the external body responsible for quality assurance, the data were not validated by any further external body. Compared with the previous year, furthermore, changes arose in the survey method used at the Ronkonkoma location (USA). These resulted in the identification of additional electricity consumption of 582.5 MWh in 2025.
2 All of STRATEC's activities are classifiable to NACE Code C "Manufacturing". No activities have therefore been allocated to high climate impact sectors. Net revenue for the financial year under report amounted to € 250,863k.
3 Restated due to reclassification of 961.6 MWh from other fossil sources category.

GROUP MANAGEMENT REPORT

Gross Scopes 1, 2, 3, and total GHG emissions¹

	Retrospective
	Base year 2023	2025	2024
Scope 1 GHG emissions
Gross Scope 1 GHG emissions (t CO₂e)	785.3	867.4	813.9
Proportion of Scope 1 greenhouse gas emissions regulated under emission trading schemes (in %)	-	-	-
Scope 2 GHG emissions
Gross location-based Scope 2 GHG emissions (t CO₂e)	1,376.7	1,760.7	1,466.8
Gross market-based Scope 2 GHG emissions (t CO₂e)	284.3	165.6	553.5
Significant Scope 3 GHG emissions
Total gross indirect (Scope 3) emissions (t CO₂e)	69,823.6	44,644.3	48,802.1
1 Purchased goods and services²	44,295.0	28,507.8	28,969.7
2 Capital goods	2,061.4	1,873.0	1,781.2
3 Fuel and energy-related activities (not included in Scope 1 or Scope 2)	192.4	289.0	250.4
4 Upstream transportation and distribution	1,345.2	930.1	1,301.2
5 Waste generated in operations	4.2	1.2	1.8
6 Business travel	818.5	593.7	902.9
7 Employee commuting³	2,761.0	2,174.5	2,468.8
8 Upstream leased assets⁴	-	-	-
9 Downstream transportation and distribution	1,355.6	938.3	1,307.1
10 Processing of sold products⁵	-	-	-
11 Use of sold products⁴	16,810.3	9,268.4	11,732.1
12 End-of-life treatment of sold products	180.0	68.3	86.9
13 Downstream leased assets⁴	-	-	-
14 Franchises⁴	-	-	-
15 Investments⁵	-	-	-
Total GHG emissions
Total GHG emissions (location-based) (t CO₂e)	71,985.6	47,272.4	51,082.8
Total GHG emissions (market-based) (t CO₂e)	70,893.2	45,677.4	50,169.5

Explanatory comments on GHG emissions:
¹ GHG emissions were calculated in accordance with the GHG Protocol and cover all subsidiaries included in the scope of consolidation and all material emission categories. Activity-based data and emission factors were referred to when calculating Scope 1 and Scope 2 emissions. Where no activity-based data were available for Scope 3 emissions, reference was made to spend-based data and corresponding emission factors. For Scope 3, this applied to the categories 1, 2, 4, 6, and 9. Emission factors from various sources were used for the calculation (main sources used: Climatip, Exisbase 3.8.2, Ecoinvent 3.11, DEFRA 2025 / 8035). The share of Scope 3 GHG emissions calculated on the basis of primary data in 2025 amounted to 29% (secondary data: 71%). In this, the total emissions from individual Scope 3 categories were accounted for, unless a not inconsiderable share of the data for these categories were based on primary data. Apart from the external body responsible for quality assurance, the data were not validated by any further external body. In addition to the emissions presented above, biogenic emissions of 21.12 tonnes were incurred in the 2025 financial year.
² STRATEC has only set targets for 2032 and 2045. The figures for 2025 and 2030 were indirectly derived from linearized pathways.
³ Spend-based emission factors were allocated to product groups with expenditure > € 10,000 (98.3% of total expenditure). Based on these calculations, an average STRATEC-specific emission factor was calculated, which was then allocated to the remaining 1.7% of expenditure.
⁴ Based on measured values, the respective electricity consumption figures of the products for different operating modes and the expected life times of the products were calculated and the estimated utilization rates applied.
⁵ The modal split was determined on the basis of an employee survey. Taking due account of the customary number of hours spent working from home, the total distance of travel per means of transport was subsequently allocated to the respective emission factors.
⁶ Emissions in this Scope 3 category are non-existent for STRATEC or, based on their estimated volume, of immaterial significance. They were therefore not included and do not require report.

Milestones and target years

% N / N-1	2032	2045	Annual average (%) on base year	2025¹	2030²
+6.6	389.5	-	-7.5	697.4	477.5
-	-	-	-	-	-
+20.0	-	-	-	-	-
-70.1	141.0	-	-7.5	252.5	172.9
-8.5	34,632.5	-	-7.5	62,003.0	42,453.0
-1.6	-	-	-	-	-
+5.2	-	-	-	-	-
+15.4	-	-	-	-	-
-28.5	-	-	-	-	-
-33.3	-	-	-	-	-
-34.2	-	-	-	-	-
-11.9	-	-	-	-	-
-	-	-	-	-	-
-28.2	-	-	-	-	-
-	-	-	-	-	-
-21.0	-	-	-	-	-
-21.4	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-	-	-	-	-	-
-7.5	-	-	-	-	-
-9.0	35.163,0	7,089.3	-7.5 / -9.9	62,952.9	43,103.4

GROUP MANAGEMENT REPORT

Greenhouse gas intensity

Greenhouse gas intensity	2025^{1}	2024^{1}	% N/N-1
Total GHG emissions (location-based) per net revenue (t CO_{2}e/€)	0.000188	0.000198	-5.1
Total GHG emissions (market-based) per net revenue (t CO_{2}e/€)	0.000182	0.000195	-6.7

1 Net revenue for the 2024 financial year amounted to € 257,624k.
2 Net revenue for the 2025 financial year amounted to € 250,863k.

Contractual instruments

Share of contractual instruments related to Scope 2 emissions	2025	2024
Scope 2
Share of contractual instruments used for the sale and purchase of energy that are bundled with attributes about energy generation or unbundled energy attribute claims	95.1%	79.2%
Share of contractual instruments used for the sale and purchase of energy that are bundled with energy generation attributes	49.8%	48.3%
Share of contractual instruments used for the sale and purchase of energy that are not bundled with energy attributes about energy generation	45.3%	30.9%

1 The instruments used involve guarantees of origin (for electricity from wind power, solar power, and hydro-power) and green electricity rates with direct suppliers.

Greenhouse gas removals

Unlike in the previous year, STRATEC did not conduct any greenhouse gas remov-al/offsetting measures in the 2025 financial year.

Cancelled carbon credits

Use of carbon credits in year under report	2025	2024^{1}
Total volume of carbon credits cancelled in year under report (t CO_{2}e)	-	1,800
Share from removal projects (in %)	-	0%
Share from reduction projects (in %)	-	100%
Verra (in %)	-	72.2%
Gold Standard (in %)	-	27.8%
Share from projects within EU (in %)	-	0%
Share of carbon credits that qualify as corresponding adjustments pursuant to Article 6 of Paris Agreement (in %)	-	0%

1 The reduction projects relate to the following verified climate protection projects: clean drinking water, Cambodia (Gold Standard), and avoided deforestation in Madre de Dios REDD+, Peru (Verra).

Carbon credits planned to be cancelled in future

STRATEC currently has no carbon credits outstanding for cancellation.

Net-zero target and carbon neutrality

Based on SBTi criteria aligned to the 1.5-degree pathway, STRATEC is pursuing the target of reducing its total emissions in Scope 1, Scope 2, and Scope 3 by 90% by 2045 (without accounting for offsetting measures) and in addition to achieve net-zero emissions in the whole value chain by 2045. It is thus planned, if necessary, to neutralize remaining greenhouse gas emissions (with a maximum of 10%) by way of permanent carbon removal and storage.

Internal carbon pricing

STRATEC currently does not apply any internal carbon pricing schemes.

ESRS E5 – Resource Use and Circular Economy

Impact, risk, and opportunity management

Description of processes to identify and assess material resource use and circular economy-related impacts, risks, and opportunities

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Policies related to resource use and circular economy

During appliance development, STRATEC already ensures that its products have a resource-efficient design scheme and that they are made of forward-looking, environmentally-friendly materials. To do justice to these standards, STRATEC has established internal policies that have to be complied with over and above legal requirements.

One of these policies is the Environmental Policy, which is to be viewed in connection with the actual negative impacts on the sustainability aspects of “Resource inflows, including resource use” and “Resource outflows related to products and services” identified in the materiality assessment.

With this policy, STRATEC commits itself to complying with all applicable local, national, and international environmental laws, regulations, and standards. Among others, these include Directives such as REACH, RoHS, WEEE, the Packaging and Packaging Waste Directive (PPWD), and battery regulations. In addition, the company continually monitors any amendments in environmental legislation and updates its policy as appropriate.

One core aspect of this commitment is the use of sustainable and resource-efficient product design, which includes the use of recyclable and environmentally-friendly materials. This avoidance of the use of primary resources, including a relative increase in the use of secondary (recycled) resources, is nevertheless not explicitly mentioned in the policy. STRATEC expects its suppliers to comply with environmental laws and regulations and aims only to work with suppliers who also have an interest in ecological sustainability. In addition, the policy stipulates that, where possible in technical terms and given customers’ material requirements,

environmentally friendly materials should be purchased in the procurement process.

A detailed description of the Environmental Policy is provided under “ESRS E1 Climate change – Policies related to climate change mitigation and adaptation”.

The Environmental Policy is referred to in the Quality Management Handbook and is available at all times to all employees and external partners via the company’s website. Its contents are communicated to all employees as a mandatory component of training. This is managed by the global heads of department acting as multipliers.

In addition, all employees receive the quality management handbooks applicable in each case, including the company’s Environmental Policy (see also “ESRS E1 Climate change – Policies related to climate change mitigation and adaptation”) in order to ensure that they are familiar with the respective requirements and commit to complying with these.

Compliance with the defined environmental standards and processes is reviewed within the internal quality management audits in order to safeguard the continuous improvement and implementation of our sustainability targets.

The topic of waste hierarchy and the prioritization of waste avoidance or minimization over waste treatment does not explicitly form part of the existing policies.

Actions and resources related to resource use and circular economy

In the year under report, STRATEC upheld two relevant actions related to resource use and the circular economy and to the positive and negative impacts identified in the materiality assessment.

One of these measures is the quality management system. This is relevant on the one hand for the positive impacts related to resource-efficient product design and the possibility of repairing or exchanging products. On the other hand, it addresses the negative impacts that arise due to the products being only partly recyclable as a result of customer requirements, patient safety precautions, or the composition of the respective materials.

GROUP MANAGEMENT REPORT

The Quality Management Handbook constitutes the documented version of the quality management system. The processes and stipulations within the quality management system serve to safeguard product quality on behalf of patients and contribute towards managing the positive and negative impacts identified in the materiality assessment. Furthermore, the quality management system ensures compliance with continually growing regulatory requirements in international markets and ever more extensive national requirements. The establishment of its quality management system enables STRATEC to fulfill the far-reaching requirements of international and national regulations. Moreover, the system is continually being improved by the Quality Management and Regulatory Affairs departments to ensure that it always meets the highest standards. In addition, STRATEC staff from various locations are pooled to form teams of experts for their respective specialist departments. These staff support each other with knowledge and experience, thus ensuring coordinated and efficient action. The implementation of the Quality Management Handbook and of the quality management system is permanent and not subject to any time restrictions.

The STRATEC Group and/or individual subsidiaries are certified in accordance with the following standards: EN ISO 9001 certificate, EN ISO 13485 certificate, MDSAP certificate, QM System compliant with 21 CFR part 820, FDA registered establishment, NRTL registered (NEMKO), Compliance with GMP requirements of Taiwan (TCP participation), Foreign Manu-facturer Accreditation in Japan, Compliance with QMS requirements in several other markets, Medical devices registered with UK MHRA.

One further action relates to the training provided in connection with the Environmental Policy. This is relevant for all positive and negative impacts identified in connection with resource use and the circular economy. The Environmental Policy training program was rolled out in 2025.

Participation in the training and awareness-raising programs is mandatory for all staff. Reporting of non-compliance with the policy is also required.

The provision of procurement training is a relevant action, particular with regard to the negative impacts resulting from the use of resources required for electronics appliances. The training is intended to provide an in-depth understanding of the topic of sustainable procurement. Among others, the learning objectives include:

Promoting understanding of the relevance of sustainable development
Communicating the importance of transparency in the upstream supply chain
Conveying knowledge about fundamental process steps for the structured introduction of sustainable procurement
Compiling a basis of argumentation relating to the need for sustainable action in procurement.

The training was held on a group-wide basis, with the relevant employees in the Procurement department receiving training. Furthermore, it is planned to continue providing this training on a regular basis.

Metrics and targets

Targets for resource use and circular economy

As an OEM supplier, STRATEC only has limited scope to determine the selection of input materials and product specifications. In addition, companies operating in the medical technology sector have to meet strict regulatory requirements. In view of this, STRATEC has not set any targets for resource use and the circular economy. The effectiveness of the Environmental Policy is suitably monitored where targets apply, for example for the topic of climate protection. As no targets have been set for resource use and the circular economy, however, the policies and actions are not explicitly monitored for the material impacts, risks, and opportunities relevant in this regard.

Resource inflows and outflows

Except in its production of polymer-based consumables, STRATEC works with a low degree of vertical integration. The predominant share of upstream production is outsourced to highly specialized contract suppliers. The final assembly and final testing of the systems are then performed at the production locations for instrumentation solutions. The inflows of resources to the STRATEC Group therefore predominantly comprise the following upstream products:

Electronics (e.g. sensors, cables, electro-mechanical parts)
Mechanical components (e.g. magnets, screws, sheet metal parts, springs)
Production materials (e.g. coatings, plastic granulates, reagents)
Computer and software (e.g. PCs, printers, software, and firmware)
Capital goods (e.g. production tools [injection molds, thermoform molds], production machines [assembly technologies, mastering machines, loading systems])
Consumer goods (cleaning products, office equipment, etc.)

As is the case for all electronics products, many of the aforementioned upstream products also include raw materials, and here especially metals such as copper, iron, or gold. The upstream value chain therefore extends to mining, an activity which impacts both on the local natural world and on the affected workers.

For polymer-based consumables, the main resource inflow involves plastic granulate, which is processed in the injection molding activities at the locations in Anif (Austria) and New Jersey (USA). Due to high quality standards, specifications stipulated by customers, and the overriding objective of ensuring patient safety, the possibilities of procuring recyclable granulates are often limited in the medical technology industry. The products manufactured by STRATEC are shipped to customers in packaging which comprises different shares of wood, cardboard, and plastics.

Product characteristics¹

	2025
Expected durability of products (% relationship to industry average)²	5-10 years
Reparability of products¹	100%

¹ The disclosures refer to analyzer systems, but not to polymer-based or liquid consumables.
² The durability of products was derived on the basis of experience values and on requirements and the product specifications determined in the development stage. STRATEC does not have any information indicating that the expected durability stated here differs from the sector average.
³ Service and spare parts are available for the products. These are therefore classified as being 100% repairable.

GROUP MANAGEMENT REPORT

ESRS S I – Own Workforce

Strategy

Interests and views of stakeholders

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Material impacts, risks, and opportunities, and their interaction with strategy and business model

Since its foundation more than 45 years ago, a responsible mindset and sustainable operations have been a core aspect of STRATEC’s business model. By integrating sustainability topics into its corporate strategy, STRATEC is actively assuming responsibility towards society. The material actual positive impacts identified in the materiality assessment for the own workforce relate to the sustainability aspects of “Working conditions” and “Equal treatment and opportunities for all”, which represent core topics of STRATEC’s corporate social responsibility. Metrics have been derived from the individual dimensions of STRATEC’s corporate social responsibility. This way, the sustainability aspects of “Working conditions” and “Equal treatment and opportunities for all” are factored into and influence the strategy. The strategy is in turn embedded in the business model, as a result of which the business model is also influenced indirectly. The business model and the workforce are mutually dependent. The business model contributes to the impacts reported, while it itself simultaneously depends on the company’s own workforce.

The company’s own workforce includes directly employed fulltime and parttime employees, members of the Board of Management, managing directors, trainees, interns, and student trainees. Furthermore, workers who are not directly employed, such as temporary employees or consultants employed at third-party companies or self-employed, are included in the company’s own workforce if they are drawn on as temporary solutions. This staff is also included in the disclosures made pursuant to ESRS 2. Alongside the impacts due to own operations, consideration was also given to impacts related to the value chain. In its materiality assessment, STRATEC did not identify any material opportunities and risks related to its own workforce, neither did it ascertain any material negative impacts on its own workforce. Accordingly, no specific groups of staff at the company are classified as being at particular risk due to specific characteristics or activities or in connection with any specific context. For this reason, no material risks and opportunities resulting from impacts on specific groups of individuals within the company’s own workforce were identified in this regard.

The material actual positive impacts on the sustainability aspects of “Working conditions” and “Equal treatment and opportunities for all” benefit all categories of company staff. One key reason for these positive impacts is the direct management of corporate social responsibility by the Board of Management. Together with members of the first management level, the Board of Management stipulates targets that are applicable both to these managers and to the management of subsidiaries.

In addition, STRATEC has established an ESG Board comprising managers from those company departments which are particular relevant for sustainability aspects (Procurement, Human Resources, Production, Legal & Compliance, Finance & Risk Management, Quality Management, Project Management, Investor Relations, Sustainability, Corporate Communications). Employees performing specialist functions are also involved.

STRATEC has compiled a transition plan to reduce negative impacts on the environment and implement climate-neutral activities. As this transition plan only came into effect in 2024, it has not yet been possible to observe any of its impacts on STRATEC’s workforce. It can nevertheless be assumed that the contents of the transition plan will not have any material impacts on the workforce, as the actions planned do not require any changes to STRATEC’s business model. A detailed description of the transition plan can be found under “ESRS E I Climate change – Transition plan for climate change mitigation”.

The company does not perform any activities involving a significant risk of child labor or forced labor. In view of this, no countries or geographical regions requiring classification as high risk have been identified in this respect.

Following detailed analysis, STRATEC did not identify any material risks or opportunities in the context of its materiality assessment.

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Impact, risk, and opportunity management

Policies for own workforce

STRATEC accords high priority to ensuring good and safe working conditions for its staff. Alongside compliance with legal requirements, the company has therefore also established internal policies for this purpose. The Corporate Compliance Policy and the Quality Management Handbook are relevant in connection with the positive impacts identified in the materiality assessment for the sustainability aspects of "Working conditions" and "Equal treatment and opportunities for all". The Quality Management Handbook described in this report is only valid for the Birkenfeld location. The quality management handbooks at subsidiaries are based on the handbook at STRATEC SE and merely adapted as appropriate to local circumstances.

The Corporate Compliance Policy described below is nevertheless applicable across the whole of the company.

The Corporate Compliance Policy provides the foundation for ethical actions that conform to the law both within the company and in all external business relationships. The policy comprises the group-wide codes of conduct, ethical principles, and further guidelines and is binding for all company employees. Implementation is the responsibility of the topmost level of the Board of Management, the Supervisory Board, and the Global Head of Compliance. Each manager must organize his or her department in such a way that compliance with the regulations set out in the Corporate Compliance Policy and legal requirements is ensured at all times. This particularly involves communicating, monitoring, and enforcing the regulations relevant to his or her area of responsibility. The policy is freely accessible to everyone on the company's website. For employees, it is also available on the intranet and is provided to each new employee on their first day of work. Furthermore, all new employees receive training when they join the company in order to communicate the contents of the policy. For existing employees, refresher training courses are provided for every two years.

The Corporate Compliance Policy addresses a wide range of topics which, among others, also include the sustainability aspects of "Working conditions" and "Equal treatment and opportunities for all". The material positive impacts relating to these aspects are therefore also covered by the policy, a factor that is explained in further detail below:

On the one hand, the policy addresses the sustainability aspect of "Equal treatment and opportunities for all". The overriding objective here is to ensure equal professional opportunities at STRATEC and to promote equal rights and opportunities for all. Employees are to be made aware of this and encouraged to contact their manager without delay if the principles set out here are endangered or not adhered to. A further section addresses health and safety topics, which are related to the material positive impacts in the "Working conditions" sustainability aspect. The core goal here is to prevent work-related injuries and illnesses at the workplace, a factor which benefits both employees and suppliers, customers, and the general public. In addition, the Corporate Compliance Policy addresses conflicts of interest. The policy is intended to ensure that employees perform their work in the best interests of the company and in accordance with legal requirements and that any conflicts of interest between the private interests of employees and the interests of the company are avoided. This factor is also related to the positive impacts of the sustainability aspect of "Equal treatment and opportunities for all".

A further objective of the Corporate Compliance Policy involves eliminating any discrimination and harassment, promoting equal opportunities, and supporting further measures intended to promote diversity and inclusion. The policy explicitly refers to the following factors as grounds for potential discrimination: age, background, race, skin color, marital status, health condition, mental or physical disabilities, nationality, religious affiliation, gender, and sexual orientation. Furthermore, a program has been established to promote women and employees from various countries of origin. To this end, diversity training is provided and language courses supported. This program has been rolled out to all locations and is being continually maintained, albeit not as part of a specific process to combat discrimination. In connection with the implementation of the Corporate Compliance Policy, the whistleblower system was also implemented in order to support the objectives of the policy.

GROUP MANAGEMENT REPORT

The positive impacts related to STRATEC's modern workplaces are also supported by the Quality Management Handbook, which sets out the factors underlying an ideal work environment and forming the basis for employees' performance capacity. Various aspects are addressed, including creative work methods, employee integration and safety, as well as lighting, noise levels, and cleanliness. All these factors impact on employees' motivation, satisfaction, and performance. The respective heads of department are responsible for creating ideal conditions, while the Board of Management is responsible for implementing worthwhile investments and improvement projects. A continuous improvement process, regular internal audits, and structured employee meetings also serve to sustainably optimize the work environment.

A detailed description of the Quality Management Handbook is provided under "ESRS E1 Climate change – Policies related to climate change mitigation and adaptation".

In addition, STRATEC has committed to complying with internationally recognized standards of human rights as formulated in the UN Global Compact. Respect for human rights, including workers' rights, is also anchored in the Corporate Compliance Policy and the company's human rights strategy. These are aligned towards the guiding principles of the UN (UN Guiding Principles on Business and Human Rights, Universal Declaration of Human Rights), the OECD (OECD Guidelines for Multinational Enterprises, Universal Declaration of Human Rights), and the principles of the ILO "Declaration on Fundamental Principles and Rights at Work of the International Labour Organization" and form the basis for our dealings with each other within STRATEC and our dealings with partners. Aspects of these guidelines have been taken over in instructions and codes of conduct and thus adapted to STRATEC. Furthermore, the topics of human trafficking, forced labor, and child labor are explicitly addressed in the company's Code of Conduct for Business Partners (hereinafter also referred to as the "Code of Conduct"). In addition, the company has an Accident Prevention Policy.

The company's workforce is involved by way of local works councils at individual locations and the ESG Board, which acts as the company's Human Rights Officer. Should any cases arise that are linked to breaches of human rights, then actions tailored to the specific case are taken. As no such cases have been identified to date, no standard measures are yet in place to deal with these issues.

STRATEC is not subject to any specific political obligations with regard to inclusion or measures to promote particularly vulnerable people. Depending on the location, STRATEC nevertheless provides its workforce with flexible working hours and flextime models, as well as parttime models which account for the personal situation and health status of the respective employee.

Processes for engaging with own workers and workers' representatives about impacts

For STRATEC, cooperation with the Works Council is the core process drawn on to engage with its workforce. The "Agreement on Staff Involvement in STRATEC SE" Policy defines the topics discussed with the Works Council and lays down the frequency of such involvement. With regard to actual impacts on its own workforce, the company presents its findings to the Works Council and jointly discusses these. Information is regularly shared between the Works Council Chair and the member of the Board of Management responsible for Human Resources, as well as between the Works Council Chair and global HR management, a process that is supported by set meetings intended to ensure effective communication and collaboration. In addition, local works councils maintain an ongoing dialog with local HR teams which, depending on requirements, may vary in terms of their frequency from daily to weekly. This structure ensures that the Works Council is closely involved in relevant processes and that workforce interests are effectively represented. The highest-ranking position within the company with which the SE Works Council communicates is the Board of Management, which is also responsible for ensuring that any findings are integrated into the company's policy. This collaboration and exchange of information between the Board of Management and the SE Works Council is structured very closely, making it possible to effectively weigh up mutual interests and also enabling the effectiveness of this collaboration to be safeguarded and assessed.

When establishing a diversity program, the company obtained insights into the perspectives of people in under-represented groups (women and ethnic minorities) by conducting a survey. The insights gained from these interviews were discussed with the other locations, supplemented with their own perspectives and circumstances, and then integrated into the Diversity Program. The survey was primarily conducted to devise a policy for the program. To review the long-term effects of this program, however, a renewed survey was conducted in the 2025 financial year.

Processes to remediate negative impacts and channels for own workers to raise concerns

STRATEC's staff members have the possibility of voicing any concerns or needs they may have directly to the company and of having these reviewed. Various channels are available for this purpose. Staff can turn to their HR contact partners, the Compliance department, their managers, managing directors, or the Board of Management at any time by post, e-mail, telephone, or in person.

In addition, there are works councils at several locations and an SE Works Council. A company-internal whistleblower system is also available for anonymous notifications. The anonymized whistleblower system also offers protection against any potential reprisals ("whistle-blower protection"). These channels are supported by providing the necessary resources at the workplace.

The compliance system has been introduced to process complaints related to employee concerns. To ensure more efficient processing, each location has a compliance officer responsible for his or her location.

As part of the internal compliance process, any complaints communicated via the aforementioned channels at STRATEC are processed and followed up by the compliance officer at the respective location. That involves implementing predetermined steps to record, categorize, and follow up the given case. Should the processing procedure conclude that remediation is required, this is determined on an individual basis, with its effectiveness reviewed in the follow-up step. Information resulting from this compliance procedure is also included in the compliance report and communicated to the Board of Management, thus enabling it to safe-guard the effectiveness of the processes, and accordingly also of the channels. In this, STRATEC does not provide for integrating stakeholders who are envisaged as target users. Severe cases are subject to a process of escalation to ensure that they are dealt with and solved appropriately. Key information and developments are regularly communicated to the Supervisory Board to ensure effective monitoring. Furthermore, the Supervisory Board is provided with an overview of compliance cases at least once a year. For HR-related compliance topics, the HR department is also involved.

In its materiality assessment, STRATEC did not identify any negative impacts related to the company's own workforce. As a result, no corresponding remediation has been taken in this respect.

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Taking action on material impacts on own workforce, and approaches to mitigating material risks and pursuing material opportunities related to own workforce, and effectiveness of those actions

To address the sustainability aspects of “Working conditions” and “Equal treatment and opportunities for all”, as well as the associated positive impacts on its own workforce, STRATEC has established two core measures: Its work safety management system and its diversity program.

The prime objective and expected results of the group-wide work safety management system involve protecting the company's workforce and creating a working environment that is free of injury and illness. To this end, a safety engineer has been appointed and work safety training and special health protection programs provided to first-aid and evacuation assistants. The Corporate Compliance Policy is also intended to ensure that STRATEC's activities do not have or contribute to any material negative impacts on the company's own workforce. To further increase workplace safety and assess the effectiveness of the respective measures, work-related accidents are recorded and documented in templates to enable suitable case-related measures to be initiated. All STRATEC Group staff are obliged by the Corporate Compliance Policy to behave in accordance with the work health and safety policies and reflect the company's basic approach to these topics. Potential safety risks must be reported by staff immediately. With regard to health, the company also organizes preventative measures, programs, and courses, with specific offerings varying from location to location. Examples here include various sports programs. The company also offers medical checks tailored to individual workplaces and special vaccinations (influenza) for its staff. These actions are performed on an ongoing basis.

STRATEC has also designed and implemented a diversity program intended to raise diversity in management positions. This entails training for women in management positions, for example, as well as training for all managers on “diversity awareness”, and the compilation of a diversity portal with resources for all employees. With the exception of the Natech Group, which was acquired in 2023, and the locations newly founded in China and India in 2024, this program has been implemented at all locations. Moreover, this action is continuous and not subject to any time limits.

The effectiveness of this program is measured by reference to the diversity target set out in the “Targets” chapter.

STRATEC makes extensive resources available to manage impacts on the company's own workforce in connection with working conditions and equal opportunities for all. Examples here include the resources provided to procure height-adjustable desks, various heath and sports programs, flexible working hour regulations, mobile work options, and the provision of professional further development opportunities. In addition, there are HR managers at all locations who are available as contact partners.

The above disclosures cover all relevant actions in respect of material impacts related to the company's own workforce.

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Metrics and targets

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

With regard to the sustainability aspects of "Working Conditions" and "Equal treatment and opportunities for all", in the 2025 financial year STRATEC SE set itself new diversity targets for the first and second management levels below the Board of Management.

Specifically, the target adopted on February 10, 2025 stipulates that the share of women should amount to 25% in the first and second management levels below the Board of Management. The target is set for the period through December 31, 2029. The base year value for the first management level is dated February 10, 2025 and amounts to 21.4%. The base year for the second management level is also dated February 10, 2025 and amounts to 11.5%. The previous target for the first management level also amounted to 25%, while that for the second management level amounted to 20%.

These targets refer to STRATEC SE in Birkenfeld, the parent company of the STRATEC Group. As of the reporting date on December 31, 2025, women accounted for 25.0% of the first management level (previous year: 21.4%) and for a 10.7% share of the second management level (previous year: 8.0%). STRATEC's diversity target for the first and second management levels is linked to the obligation stipulated in the Corporate Compliance Policy to offer all employees the same career opportunities. This target is intended to raise the share of women at STRATEC and thus boost gender diversity. The individual targets were set by the Supervisory Board and Board of Management incumbent upon the adoption of the respective resolution. The

targets were compiled by reference to existing legal requirements governing the share of women. In setting these targets, monitoring target achievement, and identifying insights or proposed improvements, STRATEC did not work directly together with its workforce or worker representatives. The targets were rather formulated based on analysis of the organizational structure chart for the first and second management levels. The organizational structure chart is also referred to when determining the degree of target achievement.

STRATEC has also set itself a work safety target. This is measured by reference to the accident frequency rate, which records the number of material, recordable work-related accidents per million work hours and thus expresses accident frequency. The targeted accident frequency rate amounts to a maximum of 10. This work safety target was introduced in liaison with the Work Safety Officer. The definition of the metric corresponds to the definition of the ratio of work-related accidents requiring report provided in ESRS (S1 § 88c). This target is being implemented on a group-wide basis, with 2023 being referred to as the base year when assessing target achievement. The value for the base year stood at 8.2. From 2024, the target will be applied to each financial year and updated if needed to meet the latest requirements. Full-time equivalents (FTEs) have been calculated based on location disclosures in annual reporting. The total number of full-time equivalents is then multiplied by the planned working hours for full-time staff in the respective countries in order to determine the number of working hours relevant for the LTIFR calculation. The value for the 2025 year under report stood at 9.1 (previous year: 7.6) and is thus still within the envisaged target corridor.

Characteristics of the company's employees

Employees by type of contract, broken down by region

2024¹²

	Europe	North America	Asia	Total
Number of employees	1,287	124	3	1,414
Number of permanent employees	1,261	124	1	1,386
Number of temporary employees	26	-	2	28
Number of non-guaranteed hours employees	1	-	-	1

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2024.
² See Notes to Consolidated Financial Statements D: Notes on Consolidated Statement of Comprehensive Income (25)

GROUP MANAGEMENT REPORT

Employees by type of contract, broken down by region

2025¹²

	Europe	North America	Asia	Total
Number of employees	1,253	111	5	1,369
Number of permanent employees	1,227	111	5	1,343
Number of temporary employees	26	-	-	26
Number of non-guaranteed hours employees	-	-	-	-

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2025.
² See Notes to Consolidated Financial Statements D: Notes on Consolidated Statement of Comprehensive Income (25)

Number of employees by country

2024¹

Country	Number of employees
Germany	540
Hungary	305
Austria	190
Romania	159
US	124
Switzerland	93
China¹	3

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2024.
² Voluntary disclosure.

2025¹

Country	Number of employees
Germany	527
Hungary	295
Austria	191
Romania	164
US	111
Switzerland	76
China¹	5

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2025.
² Voluntary disclosure.

Employees by type of contract, broken down by gender

2024¹

	Female	Male	Other	Not disclosed	Total
Number of employees	521	893	-	-	1,414
Number of permanent employees	510	876	-	-	1,386
Number of temporary employees	11	17	-	-	28
Number of non-guaranteed hours employees	1	-	-	-	1

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2024.

2025¹

	Female	Male	Other	Not disclosed	Total
Number of employees	503	866	-	-	1,369
Number of permanent employees	493	850	-	-	1,343
Number of temporary employees	10	16	-	-	26
Number of non-guaranteed hours employees	-	-	-	-	-

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2025.

Employee turnover

	2025	2024
Employee turnover (total)
Rate of employee turnover (in %)	11.8%	16.8%

¹ The employee turnover rate is determined by stating staff exits in the year under report as a proportion of average staff totals (determined on a monthly basis). As well as staff resignations, staff exits also include employer terminations, retirement, and fatalities.

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Collective bargaining coverage and social dialog

Percentage of company employees covered by collective bargaining agreements

As of December 31, 2025, the employees covered by collective bargaining agreements accounted for 16.1% of the total number of company employees (previous year: 15.8%).

Collective bargaining coverage and social dialog¹

	Collective bargaining coverage		Social dialog
Coverage	Employees - EEA	Employees – Non-EEA countries	Workplace representation
0-19%
20-39%
40-59%
60-79%
80-100%	Austria		Germany, Austria, Hungary, Romania¹

¹ For countries with >50 employees who account for >10% of overall total
² European Works Council

Diversity metrics

Gender distribution at top management level in 2024¹

	Female	Male	Diverse	Total (12.31.2024)
Gender distribution (number)	19	68	-	87
Gender distribution (in %)	21.8%	78.2%	-	100%

¹ The "top management level" was taken to include the first two levels below the Board of Management. The first level comprises managing directors and managers who report directly to the Board of Management. The members of the second level report directly to members of the first management level.

Gender distribution at top management level in 2025¹

	Female	Male	Diverse	Total (12.31.2025)
Gender distribution (number)	19	66	-	85
Gender distribution (in %)	22.4%	77.6%	-	100%

Distribution of employees by age group

	2025¹	2024¹
Share of employees under 30 years old (in %)	15.2%	17.5%
Share of employees between 30 and 50 years old (in %)	61.6%	58.9%
Share of employees over 50 years old (in %)	23.2%	23.6%

¹ The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2025.
² The figures were calculated using internal HR reporting. They reflect the actual number of people as of December 31, 2024.

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Adequate wages

All of STRATEC's employees receive adequate remuneration. The appropriateness of remuneration has been assessed on the basis of country-specific benchmarks, such as external market statistics and standards, location-specific internal pay structures, and relevant pay comparisons taking due account of any legal requirements, such as the minimum wage.

Health and safety metrics

Health and safety management system^{1}	2025	2024
Percentage of own workforce who are covered by the company's health and safety management system based on legal requirements and/or recognized standards or guidelines	100%	100%
Number of fatalities as a result of work-related injuries and work-related ill health
Total number of fatalities as a result of work-related injuries and work-related ill health (own workforce)	–	–
Number and rate of recordable work-related accidents
Work-related accidents (own workforce)^{2}	20	18
Rate of recordable work-related accidents (own workforce)^{2}	9.1	7.6

1 Based on legal requirements and/or recognized standards or guidelines
2 The number of recordable work-related accidents includes both accidents at the workplace and accidents on the way to the workplace, to the extent that legal requirements in the respective country require the latter category to be allocated to work-related accidents. Pursuant to ESRS requirements, the above figures do not include contract workers.
3 Calculation based on the format stipulated by ESRS: Number of cases / total number of working hours performed by persons in the own workforce × 1,000,000

Remuneration metrics (pay gap and total remuneration)

Remuneration

The ratio of the annual total remuneration of the highest paid individual to the median annual total remuneration for all employees (FTEs) amounted to 23.4 in the 2025 financial year (previous year: 25.5). Consistent with ESRS disclosure requirements, this metric was calculated using the following formula:

$$
Annual\ total\ remuneration\ of\ the\ highest\ paid\ individual\ at\ the\ company\ /\ median\ annual\ total\ remuneration\ for\ all\ employees\ (excluding\ the\ highest-paid\ individual)
$$

Pay gap

The gender pay gap amounted to 23.9% in the 2025 financial year (previous year: 27.4%). It should nevertheless be pointed out that the method used to calculate the pay gap pursuant to the ESRS is based on the following formula:

(Average gross hourly wage of male employees – average gross hourly wage of female employees) / average gross hourly wage of male employees × 100

The result of this formula presents the average pay gap between male and female employees as a percentage of the average pay level of male employees in all functions, country, and salary groups. It therefore represents an unadjusted pay gap which, alongside gender aspects, is also influenced by numerous other factors. STRATEC believes that this circumstance reduces the meaningfulness of the reportable metric.

Incidents, complaints, and severe human rights impacts

Incidents / complaints submitted via reporting channels¹

	2025	2024
Disciplinary measures	0	0
Total number of incidents of discrimination, including harassment, reported in the reporting period	0	0
Number of complaints filed through channels for people in the company's own workforce to raise concerns	5	21
Number of complaints filed by people in the company's own workforce through national contact points for OECD Multinational Enterprises	0	0
Number of severe human rights violations and incidents related to people in the company's own workforce	0	0
Number of severe human rights violations and incidents related to people in the company's own workforce that involve non-respect of the principles of the UN Global Compact or the OECD Guidelines for Multinational Enterprises	0	0

¹ The basis of data referred to particularly included the anonymized whistleblower system and the incident management system and corresponding reports in the Compliance department.

Total amount of fines, penalties, and compensation for damages as a result of incidents and complaints¹

	2025	2024
Total amount of fines, penalties, and compensation for damages as a result of incidents and complaints	0	0
Total amount of fines, penalties, and compensation for damages for human rights-related incidents connected to the company's own workforce	0	0

¹ The basis of data referred to particularly included the anonymized whistleblower system and the incident management system and corresponding reports in the Compliance department.

GROUP MANAGEMENT REPORT

ESRS S2 – Workers in the Value Chain

Strategy

Interests and views of stakeholders

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Impacts, risks, and opportunities, and their interaction with strategy and business model

Although STRATEC’s suppliers are predominantly located in western industrialized economies with strict legal requirements governing workforce protection, due to its business model the company has material impacts on workers in the value chain.

The manufacturing of electronics products requires the use of conflict minerals, which involves a potential negative impact on workers in the value chain.

As a manufacturer of electronic appliances and accompanying reagents and consumables, in its production process STRATEC uses upstream products which may contain rare earths, conflict minerals such as tin and gold, and hazardous substances. As a result, the risk of child labor and forced labor, particularly in raw material extraction, cannot be comprehensively excluded.

The group of value chain workers that is potentially affected by the negative impact related to raw material extraction is therefore located in the upstream value chain. This relates above all to people involved in extracting raw materials and in manufacturing or other forms of processing hazardous substances, as these activities are frequently performed in regions with low legal standards and increased risk of child labor and other human rights violations. In these regions, the associated material potential negative impact is widespread and systemic.

Should any negative impacts such as human rights violations arise, then these may be detected more quickly by the whistleblower system. Improved incident detection creates a signal effect that may lead to a long-term reduction in negative impacts of this nature. Accordingly the established whistleblower system is highly relevant to those workers who, due to inherent or other characteristics, are particularly vulnerable to negative impacts (e.g. women and young workers or trade union members) and workers employed in regions with low legal standards.

All of the workers in the value chain referred to here are covered by ESRS 2 disclosures.

Having performed in-depth analysis, STRATEC has not identified any material risks and opportunities in its materiality assessment that result from impacts and dependencies related to workers in the value chain.

Impact, risk, and opportunity management Policies related to value chain workers

STRATEC is committed to preventing, terminating, and minimizing any negative impacts of its business activities on human rights to the greatest possible extent. With regard to material actual and potential impacts on workers in the value chain, STRATEC has implemented a human rights approach (Human-Rights-Approach@ STRATEC) and introduced a Code of Conduct for Business Partners. Together with the process description for supplier management and the Corporate Compliance Policy, these policies are intended to prevent material potential negative human rights-related impacts in connection with raw material extraction for all workers in the value chain.

“Human-Rights-Approach@STRATEC”, the company's value-based human rights approach, is described in the Policy Statement on Respect for Human Rights. This statement supplements and specifies the internal Corporate Compliance Policy with regard to the topic of human rights. With regard to human rights in the value chain, one core component of the Human-Rights-Approach@STRATEC is the Code of Conduct for Business Partners.

The Human-Rights-Approach@STRATEC is applicable to the whole of the STRATEC Group. Responsibility for implementing the approach is incumbent on the Board of Management and the ESG Board, with implementation being monitored in regular risk assessments. To take appropriate account of the interests of the company's most important stakeholders, the company works closely together with the SE Works Council, which plays a central role within the Human-Rights-Approach@STRATEC.

The Code of Conduct obliges those business partners relevant to the company's production activities to comply with the principles and requirements set out herein. Furthermore, business partners are required to oblige their own suppliers and subcontractors to comply with the standards and requirements of the Code of Conduct. The Code of Conduct is applied on a group-wide basis and relates to business partners within the upstream value chain. The ESG Board has been stipulated as the body responsible for implementing the Code of Conduct. Compliance with the requirements is additionally reviewed by way of regular supplier audits. To ensure transparency and accessibility, the Code of Conduct is made available in both English and German on the company's website and on its intranet. All stakeholders therefore have access to the Code of Conduct. With regard to respect for human rights, core elements of the Code of Conduct include the prohibition of forced labor, child labor, and discrimination. The Code of Conduct also includes requirements concerning fair pay, appropriate working hours, safe working conditions, and upholding freedom of assembly. It is based on national laws and regulations (German Supply Chain Due Diligence Act – LkSG) and international standards (Universal Declaration of Human Rights of the United Nations, the Children's Rights and Business Principles, the United Nations Guiding Principles on Business and Human Rights, the international labor standards of the International Labour Organization and the United Nations Global Compact). The topic of human trafficking is not explicitly included in the Code of Conduct, but indirectly covered by the international standards referred to above (especially ILO).

A further central policy in this context is the process description for supplier management, which forms part of the Quality Management Handbook.

The core element of this policy involves a description of the qualification, classification, monitoring, development, and phasing out of suppliers. Compliance with the Code of Conduct also forms part of supplier management. The process hereby prescribed also defines how compliance with the Code of Conduct is to be safeguarded, with implementation reviewed in the context of supplier audits.

The process description is applied at all STRATEC locations in Switzerland and Germany. By contrast, the locations in Hungary, Romania, and Austria have separate process descriptions adjusted in line with country-specific requirements and conditions, as do the locations at the Natech Group acquired in 2023. For the locations newly founded in India and China in 2023 and 2024 respectively, the Code of Conduct is applicable by way of the Corporate Compliance Policy, which is valid on a global basis.

The whistleblower system embedded in the Corporate Compliance Policy is of core significance, particularly for employees within the supply chain, as it defines various options to report incidents. To ensure that the system can be used by workers in the whole of the value chain, contact can also be taken up with the Compliance Officer via the external channels. A detailed description of the Corporate Compliance Policy is provided under “ESRS S I Own workforce – Policies related to own workforce”. The UN Global Compact also explicitly mentions the topics of forced labor and child labor in its ten principles. By signing up to the Compact and committing to adhere to its principles, STRATEC has incorporated these topics into its strategy. Human trafficking is indirectly covered via the international labor standards of the International Labour Organization and is therefore not explicitly mentioned again in the policy. Furthermore, all of STRATEC's policies which are relevant to workers in the value chain are based on the UN Guiding Principles on Business and Human Rights, the OECD Guidelines for Multinational Enterprises, the Universal Declaration of Human Rights, and the ILO conventions.

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In addition, STRATEC has committed to respecting human and workers' rights by including these in its company-wide Corporate Compliance Policy. The prohibition of forced labor and child labor is also clearly defined in the Code of Conduct. Respect for these rights is reviewed within the compliance management system and the whistleblower system. Detailed information about the compliance management system can be found under "ESRS G1 Business conduct – Business conduct and corporate culture, corruption and bribery". Via the Code of Conduct, these obligations are also passed on to business partners in the upstream supply chain. Here, compliance with the Code of Conduct is monitored by auditing suppliers and supplier self-disclosures.

Consistent with these policies, no human rights violations were identified within the STRATEC Group and its supply chain in the 2025 or 2024 financial years.

Should any incidents of human rights violations occur, then measures suitable to the specific case would be taken. As no such cases have been identified to date, there are so far no standard measures for such matters.

Apart from the anonymous whistleblower system STRATEC has currently not implemented any further measures to involve workers in the value chain.

Processes for engaging with value chain workers about impacts

STRATEC currently does not have any established process for directly engaging with workers in the value chain.

Processes to remediate negative impacts and channels for value chain workers to raise concerns

STRATEC takes measures on a case-by-case basis and therefore does not have any general approach towards remediation. Having said this, workers in the value chain have the possibility to voice their concerns and needs directly to STRATEC using the whistleblower system and to have these reviewed. This system was set up by an external company specifically for STRATEC.

The Corporate Compliance Policy provides extensive information about the various channels. This policy also points out that the whistleblower system can be accessed anonymously via the company's website. Apart from this, STRATEC does not have any specific policy to protect individual persons against reprisals. General information about the whistleblower system can also be found on the website. For internal users, additional information is provided on the intranet and in compliance training.

To safeguard their use, the channels are explained in detail both in the Corporate Compliance Policy and in associated training. In addition, the publication of information on the website means that value chain workers have the possibility to inform themselves about the relevant structures and procedures. To guarantee that any notifications received are suitably processed, an internal case-handling process has been established. At present, however, no specific measures are yet in place to review whether these channels are known to value chain workers or whether they trust such channels.

Taking action on material impacts on value chain workers, and approaches to managing material risks and pursuing material opportunities related to value chain workers, and effectiveness of those actions

To avert any violations of human rights and reinforce the positive impacts of its whistleblower system, STRATEC has implemented training and other measures.

In 2024, STRATEC introduced group-wide training focusing on sustainable procurement and also continued this in the 2025 financial year. This training, which is planned to be repeated as a recurring measure in the years ahead, is intended to promote an in-depth understanding of sustainable procurement practices. The training was specifically developed for relevant staff in the Procurement department and has been implemented on a group-wide basis. The overriding goal of the training is to continually raise awareness among staff working in this area and to increase their specialist knowledge and thus embed sustainability within procurement processes.

An additional measure associated with the further strategic development of the Global Operations department in the 2025 year under report and referring to the potential negative impact on value chain workers in connection with human rights, was the restructuring of responsibilities for planning and executing supplier audits. The objective here remains that of promoting respect for human rights in the supply chain and of reducing the number of human rights violations by increasing the number of checks. In 2025, the new processes were implemented for the production-relevant locations of Birkenfeld, Beringen, Anif, and Budapest. In the case of Birkenfeld and Beringen, supplier audits based on the new processes were already executed in 2025. For Budapest and Anif, supplier audits conforming to the new requirements are due to be conducted for the first time in 2026. Rollout to the Natech location is currently under consideration.

Furthermore, all production-relevant suppliers are contractually obliged to comply with STRATEC's universally valid Code of Conduct for business partners. During the contract initiation stage, all new business partners are subject to risk screenings. In 2023, the supplier audit process for existing business partners was extended to include additional aspects referring to respect for human rights. These have been applied since 2024. These measures, which are applied at all production-relevant locations except the Natech location, refer to the upstream value chain.

Both of the aforementioned measures are intended to prevent material potential negative human rights-related impacts. To date, there is no separate process to check the effectiveness of the aforementioned measures.

A further initiative primarily intended to achieve positive impacts in areas including value chain workers is the company's membership in a leading provider of sustainability assessments. The transparency hereby created should also motivate other companies to comply with sustainable business practices.

No human rights-related incidents or other material negative impacts were reported within the STRATEC Group and its supply chain either for 2025 or for the previous year. In view of this, no specific measures have yet been taken to remedy such matters. Should the company nevertheless gain awareness of any negative impacts on value chain workers, then the ESG Board would be notified as appropriate. This is the body which discusses material points of actual or potential human rights violations and develops measures for each individual case. The relevant departments involved are then engaged in processing the individual case. Furthermore, the availability and effectiveness of the process is safeguarded by clearly defined responsibilities.

Various preventative measures have been taken to ensure that the company's own practices continue not to have or contribute to any material negative impacts on value chain workers. Among others, these include supplier management.

STRATEC has thus introduced various measures to manage potential material impacts. The company launched operations with a whistleblower system based on externally procured software and puts this to effective use. In the 2024 financial year, further instruments and processes were launched to detect any potential human rights violations in the value chain at an early stage and to tackle these. Among others, these included the implementation of a database-supported risk assessment software by the Procurement department. To optimize this process, a decision was taken in 2025 to consider acquiring alternative software solutions. For this reason, the adaptation of internal processes scheduled for 2025 was postponed until a decision has been taken concerning a potential new software solution and its subsequent implementation.

Metrics and targets

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

In the 2025 financial year, STRATEC continued with the initiative launched in 2024 to strengthen risk management with regard to suppliers and considered implementing new instruments. The analysis and interpretation of the resultant findings have not been fully completed. Once this process is completed, the company expects to develop targets. As no targets have currently been set, the policies and actions have not been monitored in respect of the relevant material impacts, risks, and opportunities.

No human rights-related incidents or other material negative impacts were reported within the STRATEC Group either for 2025 or for the previous year.

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ESRS S4 – Company-Specific Disclosures: Patient Safety

Company-specific disclosures

In view of the company's products and business model, no material impacts, risks, or opportunities were identified for the target group of end-users / consumers relevant to S4. The CSRD defines consumers as "individuals who acquire, consume or use goods and services for personal use, either for themselves or for others, and not for resale, commercial or trade, business, craft or profession purposes" and end-users as "individuals who ultimately use or are intended to ultimately use a particular product or service". Mapped onto STRATEC's business model, end-users involve the group of persons who use the products, such as staff in diagnostics laboratories. STRATEC therefore does not refer to consumers as a group. With regard to end-users, no material IROs were identified. As a result, no topics relating to this user group have been included in this reporting. By contrast, patients are key stakeholders who are affected by material IROs. They are nevertheless not adequately covered by the ESRS and have therefore been reported under the "company-specific sustainability aspects" allocated to S4. Exceptions apply for the disclosures on S4-2 "Processes for engaging with consumers and end-users about impacts" and S4-3 "Processes to remediate negative impacts and channels for consumers and end-users to raise concerns", as this information is not significant with reference to patients. As an OEM partner and given the interim end-users, STRATEC does not have any direct contact to patients.

Strategy

Interests and views of stakeholders

This disclosure is reported in the chapter "ESRS 2 General disclosures – Interests and views of stakeholders".

Material impacts, risks, and opportunities, and their interaction with strategy and business model

STRATEC's overriding objective, which is also anchored in its mission statement, is to improve people's quality of life. It achieves this in cooperation with customers and by designing and manufacturing innovative medical technology products. The products designed by STRATEC meet the highest quality standards and are subject to the requirements of numerous regulatory approval authorities. As these are global products, the quality measures applied by STRATEC may certainly exceed the regulatory requirements of individual countries. Quality assurance is a factor of particular importance, as the quality of the company's products directly affects the wellbeing of patients. Specifically, the relevance of quality on patient impacts is reflected in the fact that STRATEC's products play a decisive role in healthcare provision, particularly in the field of in-vitro diagnostics. These processes are crucially important in modern healthcare systems and contribute to around 70% of all decisions as to how patients are to be treated.

As a result, all patients whose therapeutic decisions are dependent on STRATEC products benefit from the material positive impacts and are simultaneously potentially affected by negative impacts. Given the existing quality management system, any potential negative impacts on patients arising due to unexpected quality problems would be more likely attributable to individual rather than systemic incidents.

Due to its business model, STRATEC nevertheless does not have any more far-reaching information about those patients whose therapeutic decisions were reached on the basis of a STRATEC product. In view of this, no information is available on patient characteristics in terms of the risk of damages. No application is made of the disclosures relating to S4 Paragraph 10 a i.-iv.

The impacts of products on patients significantly influence the corporate strategy and its opportunities for future growth and profitability. This refers not only to a specific group of patients, but rather to the basic dependence of the business model on patients. Product quality is also a decisive lever for STRATEC to differentiate itself from competitors and thus plays a core role in the company's strategy.

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Impact, risk, and opportunity management

Policies related to patients

STRATEC has a Quality Management Handbook to safeguard and continually improve its quality. This is also intended to have a corresponding effect in promoting patient safety and the adequate handling of the impacts identified in the materiality assessment (see table under "ESRS 2 General disclosures – Material impacts, risks, and opportunities, and their interaction with strategy and business model").

A detailed description of the Quality Management Handbook is provided under "ESRS E1 Climate change – Policies related to climate change mitigation and adaptation".

Taking action on material impacts on patients and approaches to managing material risks and pursuing material opportunities related to patients, and effectiveness of those actions

STRATEC has introduced an extensive quality management system to continually safeguard its quality. This is documented for implementation purposes in the Quality Management Handbook. This system pursues the objective of safeguarding the quality of products for patients and thus contributes to managing the impacts identified in the materiality assessment (see table under "ESRS 2 General disclosures – Material impacts, risk, and opportunities, and their interaction with strategy and business model"). In addition, the quality management system and the measures set out therein are intended to ensure that the continually growing regulatory requirements of international markets and ever more extensive national requirements are complied with. A detailed description of the quality management system is provided under "ESRS E5 Resource use and circular economy – Actions and resources in relation to resource use and circular economy".

Metrics and targets

Targets related to managing material negative impacts, advancing positive impacts, and managing material risks and opportunities

The effectiveness of the quality management system and of the Quality Management Handbook in respect of quality standards is continually monitored. This includes their effectiveness in terms of the positive and potential negative impacts identified in the management assessment (see also "Metrics and targets" in Chapter E5 – Resource use and circular economy, product characteristics).

Responsibility for monitoring quality is incumbent on the Board of Management. The quality management system is evaluated by the Board of Management within its management review at least once a year. This evaluation is performed in the first quarter of the subsequent year. The data and information required for this evaluation are provided by the relevant departments.

Given the overriding goal of safeguarding patient safety and meeting regulatory requirements, any disaggregation into individually quantifiable metrics would only make limited sense. No targets within the meaning of the CSRD have therefore been set.

GROUP MANAGEMENT REPORT

ESRS G1 – Business Conduct

Governance

The role of the administrative, management, and supervisory bodies

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Impact, risk, and opportunity management

Description of the processes to identify and assess material impacts, risks, and opportunities

This disclosure is reported in the chapter “ESRS 2 General disclosures – Interests and views of stakeholders”.

Business conduct and corporate culture, corruption and bribery

Among others, key topical focuses of the Corporate Compliance Company include shaping the corporate culture and tackling corruption and bribery. The Corporate Compliance Policy thus covers the material positive impacts, opportunities, and risks identified for these topics within the materiality assessment. A detailed description of the Corporate Compliance Policy is provided under “ESRS S1 Own workforce – Policies related to own workforce”.

On the one hand, the policy addresses the topics of corruption and bribery, with the overriding target being that of preventing corruption. That involves complying with the requirement for integrity in business dealings and is to be understood as a prohibition on all impermissible forms of exerting influence. The Corporate Compliance Policy also describes STRATEC’s corporate culture, with great value being accorded in this respect to standards and rules of conduct. The policy also obliges all employees worldwide to behave lawfully and with respect towards employees, colleagues, business partners, customers, and the authorities.

A further core element involves compliance with the requirements of the law and official regulations. To this end, STRATEC has established a compliance management system that facilitates the effective implementation of all principles and core elements of the Corporate Compliance Policy. This compliance management system is also anchored in the Corporate Compliance Policy.

Key measures to communicate and implement the contents of the Corporate Compliance Policy include group-wide training and regular one-to-one talks between employees and their superiors, as well as if required between superiors and the relevant compliance officer. The compliance management system is continually being developed further, a process which may result in further actions. In some cases, the existing actions and those initiated go beyond legal requirements. That is because the Corporate Compliance Policy is valid globally, and thus also applied at locations in countries with lower requirements. Initial training is provided when employees join the company. Subsequent to that, the contents are conveyed on an ongoing basis in refresher training sessions provided every 1 to 2 years.

Knowledge and understanding of the applicable regulations is a factor of great significance, particularly with regard to the topics of corruption and bribery. The implementation of the Corporate Compliance Policy and regular refreshment of its contents are of core relevance. To standardize the company-wide compliance culture, the local compliance managers at all STRATEC subsidiaries also receive regular targeted training.

The STRATEC Group has set itself the target of achieving a specified training quota in the field of corporate compliance. Setting this target is intended in particular to enable the company to gain an overview of the employees who have been trained. The objective is to reach a group-wide training quota of at least 85%. Target achievement has been measured since 2024. In the 2025 financial year, the training quota stood at 86.3%, as against 82.7% in the previous year. In addition, the target should apply for each subsequent financial year. Target achievement is monitored and reviewed via the staff qualification management system, and in individual cases using otherwise defined reporting processes.

Policies related to business conduct and corporate culture

The Corporate Compliance Policy and the compliance management system form the basis for addressing reports and concerns of unlawful conduct or of conduct that contravenes the Code of Conduct.

Such matters can be reported at any time to the compliance team, whether anonymously or including the name of the person making the report. Various channels are available for this purpose: by e-mail, via the compliance mailbox, via the whistleblower system, or in person to the local compliance officer. Former employees also have the possibility to report the afore-mentioned matters. The whistleblower system, the link to which they will be familiar with due to their previous activity at STRATEC, is available to them for this purpose. For all other stakeholders, the link to the whistleblower system is publicly accessible on the company’s website.

The whistleblower system enables reports to be submitted anonymously. The anonymity thereby guaranteed ensures that the person submitting the report cannot be traced. Such person is therefore protected against any potential reprisals ("whistleblower protection").

Complaints are processed via the compliance management system. To enable such complaints to be processed more efficiently, each location has its own compliance officer. Cases reported are documented within the compliance team and dealt with in accordance with their relevance. Suitable investigations may then be launched to clarify the matters reported, if appropriate also with external support. At the end of each year, an anonymized compliance report is compiled for each STRATEC company and presented in summarized form to the Supervisory Board. Furthermore, the company enables relevant experiences to be shared at its corporate compliance summits. The objective here is to cultivate a uniform compliance management system across the Group and to support those responsible on location in implementing this system.

All channels available to staff to submit reports are supported by providing the necessary resources at the workplace. Thanks to the aforementioned regular compliance training, it is ensured that staff are extensively informed about compliance processes. Those employees responsible for processing compliance-related incidents also receive targeted training enabling them to discharge this important duty as well as possible.

Prevention and detection of corruption and bribery

The whistleblower system and associated incident processing procedure represent existing processes to prevent, detect, investigate, and follow up any incidents of corruption or bribery. Preventing such incidents forms part of the Corporate Compliance Policy.

The incident processing procedure is initiated upon receipt of notifications or any other occurrences reported. The objective is to investigate any incidents relating to business conduct, and in particular any incidents of corruption and bribery, without delay, independently, and objectively. The responsible local compliance officer is the first contact partner for compliance-related incidents and is not part of the management. For acute topics, the Board of Management and Supervisory Board are nevertheless involved without delay and otherwise informed once a year on an anonymous basis about any incidents arising.

A further action to prevent any incidents of corruption and bribery involves providing compliance training in which the contents of the Corporate Compliance Policy are communicated to staff. Among other matters, this regular training addresses the topics of corruption and bribery, as well as further topics relevant to compliance. The scope of training is aligned to the likelihood of corruption-related risks. Staff in the procurement departments and the Board of Management are particularly at risk in terms of corruption and bribery. According to the final assessment by the Compliance Officer, this is generally also the case for staff working in sales. The risk of corruption is nevertheless assessed as being low overall, as STRATEC does not market its products directly to end customers, but rather chiefly sells these to OEM customers. This assessment is further supported by the fact that most of the company's customers are located in countries with low corruption risk. The scope of compliance training relating to corruption is therefore comparatively small and does not play any superordinate role within the training program. This program covers 100% of the functions-at-risk, as participation in the training is mandatory for all staff and for the Board of Management. Further-more, the Supervisory Board received training in this respect in the year under report.

Metrics and targets

Anti-corruption and bribery training

	2025	2024
Functions-at-risk covered by training program (share in %)	100%	100%

'All staff receive compliance training upon joining the company, thus also covering 100% of functions-at-risk.

Violations of corruption and bribery laws

No convictions or fines were imposed in the 2025 financial year for violations of anti-corruption and anti-bribery laws.

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Reporting pursuant to EU Taxonomy Regulation

STRATEC is obliged by § 289b (1) HGB in conjunction with § 315b HGB and Article 8 of the Taxonomy Regulation to report in accordance with the Taxonomy Regulation. STRATEC has prepared its consolidated financial statements as of December 31, 2025 in accordance with IFRS as adopted by the European Union and the interpretations of the IFRS Interpretation Committee (IFRIC). The IFRS consolidated financial statements serve as the basis for determining the figures presented below. The consolidated financial statements include all companies included in the scope of consolidation. The following EU Taxonomy reporting has been prepared on the basis of Commission Delegated Regulation (EU) 2021/2178 and in accordance with the International Financial Reporting Standards (IFRS) applicable to the consolidated financial statements. For our Taxonomy reporting, we make application of Regulation (EU) 2020/852, including its Delegated Regulations in the versions respectively valid as of December 31, 2025.

An economic activity is Taxonomy-eligible if it is listed in the EU Taxonomy and can thus potentially contribute to achievement of at least one of the environmental objectives listed in Article 9 of the Taxonomy Regulation:

a) Climate change mitigation
b) Climate change adaptation
c) Sustainable use and protection of water and marine resources
d) Transition to a circular economy
e) Pollution prevention and control
f) Protection and restoration of biodiversity and ecosystems.

In classifying an economic activity as "environmentally sustainable" as defined in the EU Taxonomy Regulation, a distinction has to be made between "Taxonomy eligibility" and "Taxonomy alignment". The first step involves checking whether the respective economic activity is described in the Delegated Regulation and thus Taxonomy-eligible. Only Taxonomy-eligible economic activities may count as Taxonomy-aligned, and thus as "environmentally sustainable" if specific criteria are met.

Companies are obliged to disclose the shares of Taxonomy-aligned and Taxonomy-non-aligned economic activities for all environmental objectives (Climate change mitigation, Climate change adaptation, Sustainable use and protection of water and marine resources, Transition to a circular economy, Pollution prevention and control, Protection and restoration of biodiversity and ecosystems).

With regard to the templates pursuant to Annex XII of Delegated Regulation 2022/1214, the company does not have any activities in the fields of electricity generation, combined heat/cooling energy and power generation or heat/cooling energy generation from fossil gas or nuclear energy. There is therefore no requirement to report the gas and nuclear energy tables.

Key performance indicators

To avoid double counting when calculating the key performance indicators, the entries for all identified economic activities were analyzed on single booking level and subsequently clearly allocated to an economic activity.

KPI:Turnover

The turnover key performance indicator presents the sales (turnover) from Taxonomy-eligible and Taxonomy-aligned economic activities (numerator) in a given financial year as a proportion of the total sales in this financial year (denominator). Here, the denominator corresponds to the sales reported in the IFRS consolidated financial statements and thus refers to net sales with goods or services, including intangible goods, pursuant to IAS 1.82(a).

The total sales of € 250,863k reported for the 2025 financial year (previous year: € 257,624k) represent the denominator in the turnover KPO and are presented in the Group's income statement.

The sales reported in STRATEC's consolidated income statement (see Notes to Consolidated Financial Statements) are investigated across all group companies to ascertain whether they were generated with Taxonomy-eligible economic activities pursuant to Annex I (Climate change mitigation) and Annex II (Climate change adaptation) to Delegated Regulation 2021/2139 and Delegated Regulation (EU) 2023/24, and pursuant to Annex I (Sustainable use and protection of water and marine resources), Annex II (Transition to a circular economy), Annex III (Pollution prevention and control), and Annex IV (Protection and restoration of biodiversity and ecosystems) of Environmental Delegated Regulation 2023/2486 to the Taxonomy Regulation.

In the first step of the analysis, based on the descriptions of all existing economic activities the extent to which STRATEC's economic activities are Taxonomy-eligible in terms of the six environmental objectives was investigated. Detailed analysis of their constituent items enables the respective sales to be clearly allocated to the Taxonomy-eligible economic activities.

By analogy with the previous year, STRATEC had sales-generating activities in the economic activities of 1.2 "Manufacture of electrical and electronic equipment", 5.1 "Repair, refurbishment and remanufacturing", and 5.2 "Sale of spare parts" which could be allocated to the "Transition to a circular economy" environmental objective. All other economic activities contributing to the "Transition to a circular economy" environmental objective are of no relevance to STRATEC. Furthermore, no economic activities from the other environmental objectives were identified as being Taxonomy-eligible.

This results in Taxonomy-eligible turnover of € 147,154k for the 2025 financial year (previous year: € 156,569k), corresponding to a Taxonomy-eligible share of turnover amounting to 58.7%. The share of Taxonomy-eligible turnover therefore fell slightly compared with the previous year's figure (60.8%). The amounts included in the numerator relate solely to the three economic activities referred to above and chiefly result from revenues from contracts with customers.

STRATEC does not report any amounts for Taxonomy-eligible activities serving its own requirements under the economic activities. The economic activities associated with STRATEC's sales are unchanged on the previous year. The reduction in the turnover KPI is chiefly due to the fact that STRATEC generated a proportionately lower volume of sales with the aforementioned Taxonomy-eligible products in the 2025 financial year.

For an economic activity to count as Taxonomy-aligned, it must satisfy three superordinate criteria:

Substantial contribution to an environmental objective: The Taxonomy-eligible economic activity must make a substantial contribution to one of the defined environmental objectives.
No significant harm of other environmental objectives: The Taxonomy-eligible economic activity may not significantly harm any of the other environmental objectives.
Compliance with minimum safeguards: Compliance with the minimum safeguards must be ensured for the Taxonomy-eligible economic activities.

Taxonomy alignment review for economic activity 1.2. "Manufacture of electrical and electronic equipment"

Sales resulting from the sale of analyzer systems are allocable to this economic activity.

Substantial contribution

In the first step of the Taxonomy alignment analysis, a review is performed to ascertain whether the Taxonomy-eligible activities satisfy the criteria stipulated for a substantial contribution to one of the environmental targets.

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Economic activity 1.2 is deemed to make a substantial contribution if the appliances (analyzer systems) manufactured within the Taxonomy-eligible economic activity satisfy all EU Ecolabel criteria applicable to that specific product category in accordance with Regulation (EC) No. 66/2010 of the European Parliament and of the Council. Furthermore, the operator of the activity must provide proof of compliance with all requirements listed in accordance with the verification criteria foreseen by the EU Ecolabel criteria.

Alternative: Where no product-specific EU Ecolabel criteria exist, or the operator of the activity has not used them, then the relevant products have to comply with detailed criteria in the following areas: design for long lifetime, design for repair and guarantee, design for reuse and remanufacturing, design for dismantlement, design for recyclability, proactive substitution of hazardous substances, information to customers, producer responsibility.

For STRATEC's Taxonomy-eligible products there are no product-specific criteria for the EU Ecolabel. Following in-depth analysis, the Taxonomy alignment of these products was also excluded with regard to the alternative further criteria.

Criteria relating to design for repair and guarantee:

The criteria for this economic activity require the operator of the activity to be able to assess the extent to which any product repair presents health and safety risks. STRATEC's customers are responsible for deciding whether the product is decontaminated or not. In view of this, STRATEC cannot reliably state that significant health and safety risks presented by product repair can be excluded.

Irrespective of whether STRATEC can provide any assessment of the health and safety risks, the criteria require the disclosure of disassembly and repair instructions during the product lifetime. STRATEC does not currently make any such instructions publicly available.

For electrical and electronic equipment designed for use by consumers, the economy activity requires the operator of the activity to provide a commercial guarantee of at least three years at no extra charge in accordance with the requirements of Article 17 of Directive (EU) 2019/771 of the European Parliament and of the Council. Contractually agreed guarantee terms are in place at STRATEC, but these do not satisfy the stipulated minimum guarantee term of at least 3 years.

Criteria relating to design for dismantling:

STRATEC does not meet the requirements governing information on the product's end-of-life management over the lifetime of the products. Information is provided in the product service manual, but this is not publicly available. Furthermore, the information provided in the service manual does not fully meet the requirements of the aforementioned Directive 2012/19/EU.

Criteria relating to design for recycling:

STRATEC currently does not assess the recyclability of its products in accordance with the stated standard EN 45555:2019 or with any product-specific EN standard relying on EN 45555:2019.

123

Criteria relating to proactive substitution of hazardous substances:

All of STRATEC's products are designed in accordance with the requirements of REACH and ROHS. However, conformity with REACH and/or ROHS is not equivalent to demonstrated proactive substitution of hazardous substances. Proactive substitution of hazardous substances is not guaranteed upon manufacture or by the products themselves.

Given the explanatory comments provided above, STRATEC cannot reliably state that the relevant criteria for a substantial contribution in connection with economic activity 1.2. are satisfied. There is therefore no Taxonomy alignment for 1.2.

Taxonomy alignment review for economic activity 5.1. "Repair, refurbishment, and remanufacturing"

The service and repair services performed by STRATEC are allocable to this economic activity.

Substantial contribution

Economic activity 5.1. is deemed to make a substantial contribution if the service and repair services result in an extension in product lifetime due the repair, refurbishment, or remanufacturing of products that have been used for the intended purpose before by a customer (physical person or legal person).

These services must also satisfy specific criteria. Firstly, the replaced parts, the refurbished products, or the remanufactured products must be covered by a sales contract where relevant and in accordance with provisions regards conformity of the product, liability of the seller (including the option of a shorter liability or limitation period for second-hand products), burden of proof, remedies for lack of conformity, the modalities for the exercise of those remedies, repair or replacement of the goods, and commercial guarantees. Secondly, a waste management plan must be implemented with the economic activity. This plan must ensure that the product's materials, particularly critical raw materials, and components that have not been reused in the same product are reused elsewhere, or, where reuse is not possible (due to damage, degradation, or hazardous substances), are recycled, or, only where reuse and recycling are not viable, are disposed of in accordance with applicable Union and national legislation. Furthermore, this waste management plan must be accessible to the public.

The service and repair services offered by STRATEC currently do not satisfy the listed criteria. As a result, economic activity 5.1. cannot be reported as Taxonomy-aligned. That is because responsibility for disposing of the materials in STRATEC's products is incumbent on the respective users. In addition, disposal is governed by relevant local legislation. Moreover, STRATEC has currently not implemented any proprietary waste management plan.

GROUP MANAGEMENT REPORT

Taxonomy alignment review for economic activity 5.2. "Sale of spare parts"

Sales from the sale of spare parts are allocable to this economic activity.

Substantial contribution

For economic activity 5.2. to make a substantial contribution, the spare parts must also be covered by a sales contract in accordance with provisions as regards conformity of the product, liability of the seller (including the option of a shorter liability or limitation period for second-hand products), burden of proof, remedies for lack of conformity, modalities for the exercise of those remedies, repair or replacement of the goods, and commercial guarantees. Furthermore, each sold spare part for a product must replace, or intend to replace in the future, an existing part in order to restore or upgrade the product's functionality, in particular in cases where the existing part is broken. If the sale of spare parts includes the delivery of packaged products to customers (natural persons or legal entities), also if the activity is operated as e-commerce, detailed requirements also apply to the primary and secondary packaging of the product.

At STRATEC, the sale of spare parts also involves the delivery of packaged products. Among other materials, the packaging used here comprises paper or cardboard made of non-recycled material. For these primary materials, STRATEC cannot demonstrate any of the certifications stipulated in the substantial contribution criteria, namely certification by the Forest Stewardship Council (FSC), by the Programme for the Endorsement of Forest Certification Schemes (PEFC International), or by equivalent recognized schemes. Furthermore, no declaration of compliance is compiled. As a result, economic activity 5.2. cannot be reported as a Taxonomy-aligned economic activity.

The third superordinate criterion for Taxonomy alignment involves compliance with minimum safeguards. This requirement, which applies equally to all economic activities, addresses compliance with human rights, social, and labor standards, as well as regulations governing the topics of fair competition, corruption, and tax discipline. Compliance with minimum safe-guards can be documented both for individual economic activities and for the company as a whole. Article 18 of the Taxonomy Regulation stipulates the OECD Guidelines for Multinational Enterprises, the UN Guiding Principles on Business and Human Rights, the ILO Core Labour Standards, and the Universal Declaration of Human Rights as the frameworks underpinning compliance with minimum safeguards. In specifying these requirements, STRATEC is guided by the recommendations of the Platform on Sustainable Finance.

CapEx KPI

For the CapEx key performance indicator, the denominator comprises capital expenditure defined as additions to property, plant and equipment, intangible assets, and IFRS 16 right-of-use assets before depreciation and amortization and any remeasurements for the respective financial year and excluding any changes in fair values.

The CapEx KPI in turn requires calculation both for Taxonomy-eligible and for Taxonomy-aligned economic activities. Pursuant to Point 1.1.2.2. of Annex I to Delegated Regulation (EU) 2021/2178, the nominator presents that share of capital expenditure that

a) Relates to assets or processes that are associated with Taxonomy-aligned economic activities, or
b) Forms part of a plan to expand Taxonomy-aligned economic activities or to allow Taxonomy-eligible economic activities to become Taxonomy-aligned ("CapEx plan") under the conditions specified in the second subparagraph of this Point 1.1.2.2, or

c) Relates to the purchase of output from Taxonomy-aligned economic activities and individual measures enabling the target activities to become low-carbon or to lead to greenhouse gas reductions, notably activities listed in Points 7.3 to 7.6 of Annex I to the Climate Delegated Act, as well as to other economic activities listed in the delegated acts adopted pursuant to Article 10 (3), Article 11 (3), Article 12 (2), Article 13 (2), Article 14 (2), and Article 15 (2) of Regulation (EU) 2020/852 and provided that such measures are implemented and operational within 18 months.

Total capital expenditure amounted to € 17,030k in the 2025 financial year (previous year: € 20,477k) (see relevant disclosure in Group Asset Schedule).

Based on the respective project descriptions, capital expenditure was analyzed to ascertain the extent to which it might be allocated to one of these three categories. Of relevance to Category a) is that capital expenditure which can be fully allocated to the aforementioned economic activities 1.2., 5.1., and 5.2. from the environmental objective of "Transition to a circular economy". No relevant capital expenditure was identified for Category b), as the company did not have any CapEx plan meeting the Taxonomy definition. As no CapEx plan was in place, the disclosures on material information relating to the plan are not applicable. Based on the following comments, it is apparent that, in line with the process described, STRATEC could clearly allocate its capital expenditure to economic activities which in turn are each clearly allocable to an environmental objective.

The Taxonomy-eligible CapEx in Category c) is supplemented by the purchase of Taxonomy-eligible services and products. These purchased items can be allocated to the economic activities "Transport by motorbikes, passenger cars, and light commercial vehicles" (Economic Activity 6.5), "Installation, maintenance, and repair of energy efficiency equipment" (Economic Activity 7.3), "Installation, maintenance, and repair of renewable energy technologies" (Economic Activity 7.6), and "Acquisition and ownership of buildings" (Economic Activity 7.7) within the "Climate change mitigation" environmental objective and furthermore to the economic activity "Manufacture of electrical and electronic equipment" (Economy Activity 1.2.) in the "Transition to a circular economy" environmental objective. For all taxonomy-eligible capital expenditure in Category c), STRATEC's business partners were unable to provide the documentary evidence required for Taxonomy alignment. By safeguarding a clear system of allocation, it was ensured that the capital expenditure relating to these economic activities was not also recorded when determining the capital expenditure relating to Taxonomy-eligible turnover.

Total Taxonomy-eligible capital expenditure amounted to € 6,710k (previous year: € 8,731k), resulting in a Taxonomy-eligible capital expenditure share of 39.4%. The share of Taxonomy-eligible capital expenditure therefore decreased compared with the previous year (42.6%). A quantitative breakdown for the amounts included in the numerator on aggregated economic activity level is provided in the reporting table for this KPI. The economic activities associated with STRATEC's capital expenditure are unchanged compared with the previous year. The reduction in the CapEx KPI is largely due to STRATEC having a proportionately lower share of capital expenditure in connection with the relevant economic activities in the 2025 financial year.

No capital expenditure can be reported as Taxonomy-aligned CapEx for the 2025 financial year. The total amount of Taxonomy-aligned capital expenditure therefore amounted to € 0k, resulting in a Taxonomy-aligned CapEx share of 0%. The amount of Taxonomy-aligned capital expenditure has thus not changed since the previous year (0%).

125

GROUP MANAGEMENT REPORT

OpEx KPI

For the OpEx key performance indicator, the denominator comprises direct, non-capitalized expenses relating to research and development, building renovation measures, maintenance and repairs, and short-term leases pursuant to IFRS 16. Total operational expenditure amounted to € 10,468k in the 2025 financial year (previous year: € 12,217k). The OpEx KPI also requires calculation with regard to both Taxonomy-eligible and Taxonomy-aligned economic activities. Pursuant to Point 1.1.3.2 of Annex I to Delegated Regulation (EU) 2021/2178, the numerator presents that share of operational expenditure that

a) Relates to assets or processes associated with Taxonomy-aligned economic activities, including training and other human resources adaptation needs, and direct non-capitalized costs that represent research and development, or
b) Forms part of the CapEx plan to expand Taxonomy-aligned economic activities or allow Taxonomy-eligible economic activities to become Taxonomy-aligned within a predefined timeframe as set out in the second paragraph of this Point 1.1.3.2, or

c) Relates to the purchase of output from Taxonomy-aligned economic activities and to individual measures enabling the target activities to become low-carbon or to lead to greenhouse gas reductions as well as individual building renovation measures as identified in the delegated acts adopted pursuant to Article 10 (3), Article 11 (3), Article 12 (2), Article 13 (2), Article 14 (2), and Article 15 (2) of Regulation (EU) 2020/852 and provided that such measures are implemented and operational within 18 months.

To determine the numerator, the expenditure recorded in the relevant accounts was reviewed to ascertain its Taxonomy eligibility. Of relevance to Category a) is that operational expenditure which can be fully allocated to the aforementioned economic activities 1.2., 5.1., and 5.2. from the environmental objective of "Transition to a circular economy". No relevant capital expenditure was identified for Category b), as the company did not have any CapEx plan meeting the Taxonomy definition in 2025. As no CapEx plan was in place, the disclosures on material information relating to the plan are not applicable. With regard to Category c), purchases of Taxonomy-eligible products and services in connection with the economic activities "Transport by motorbikes, passenger cars, and light commercial vehicles" (Economic Activity 6.5), "Installation, maintenance, and repair of energy efficiency equipment" (Economic Activity 7.3), "Installation, maintenance, and repair of renewable energy technologies" (Economic Activity 7.6), and "Acquisition and ownership of buildings" (Economic Activity 7.7) within the "Climate change mitigation" environmental objective and economic activity "Manufacture of electrical and electronic equipment" (Economic Activity 1.2) in the "Transition to a circular economy" environmental objective can be allocated to this category.

For all taxonomy-eligible operational expenditure in Category c), STRATEC's business partners were unable to provide the documentary evidence required for Taxonomy alignment. By ensuring a clear system of allocation, it was ensured that this operational expenditure was not also recorded when determining the operational expenditure relating to Taxonomy-eligible turnover. Based on these comments, it is apparent that, in line with the process described, STRATEC could clearly allocate its operational expenditure to economic activities which in turn are each clearly allocable to an environmental objective.

Total Taxonomy-eligible operational expenditure amounted to € 457.3k (previous year: € 574.8k), resulting in a Taxonomy-eligible operational expenditure share of 4.4%. The share of Taxonomy-eligible operational expenditure therefore fell slightly compared with the previous year (4.7%). A quantitative breakdown for the amounts included in the numerator on aggregated economic activity level is provided in the reporting table for this KPI. The economic activities associated with STRATEC's operational expenditure are unchanged compared with the previous year. The reduction in the OpEx KPI is largely due to STRATEC having a proportionately lower share of operational expenditure in connection with the relevant economic activities in the 2025 financial year.

No operational expenditure can be reported as Taxonomy-aligned OpEx for the 2025 financial year. The total amount of Taxonomy-aligned operational expenditure therefore amounted to € 0k, resulting in a Taxonomy-aligned OpEx share of 0%. The amount of Taxonomy-aligned operational expenditure has thus not changed since the previous year (0%).

127

GROUP MANAGEMENT REPORT

Key performance indicators for EU Taxonomy – 2025 Turnover

Economic activities	2025			Substantial contribution criteria
	Codes	Turnover (€ 000s)	Proportion of turnover, year 2025 (%)	Climate change mitigation (Y,N,N/EL)	Climate change adaptation (Y,N,N/EL)	Water and marine resources (Y,N,N/EL)	Pollution (Y,N,N/EL)	Circular economy (Y,N,N/EL)	Biodiversity (Y,N,N/EL)
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy-aligned)
		-	-	-	-	-	-	-	-
Turnover of environmentally sustainable activities (taxonomy-aligned) (A.1)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which enabling (E)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which transitional (T)		0	0.0%	0.0%
A.2 Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)
				(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)
Manufacture of electrical and electronic equipment	CE 1.2	87,724	35.0 %	N/EL	N/EL	N/EL	EL	N/EL	N/EL
Repair, refurbishment and remanufacturing	CE 5.1	5,325	2.1 %	N/EL	N/EL	N/EL	EL	N/EL	N/EL
Sale of spare parts	CE 5.2	54,105	21.6 %	N/EL	N/EL	N/EL	EL	N/EL	N/EL
Turnover of taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities) (A.2)		147,154	58.7 %	0.0%	0.0%	0.0%	58.7 %	0.0%	0.0%
A. Turnover of taxonomy eligible activities (A.1+A.2)		147,154	58.7 %	0.0%	0.0%	0.0%	58.7 %	0.0%	0.0%
B. Taxonomy-non-eligible activities
Turnover of taxonomy-non-eligible activities		103,709	41.3 %
Total (A+B)		250,863	100.0%

Abbreviations in columns 5 to 10:
Y = Yes, Taxonomy-eligible and Taxonomy-aligned activity with the relevant environmental objective
N = No, Taxonomy-eligible but not Taxonomy-aligned activity with the relevant environmental objective
N/EL = not eligible, Taxonomy non-eligible activity for the relevant environmental objective
EL = Taxonomy eligible activity for the relevant objective

Table according to footnote (c) of Environmental DA Annex V

	Proportion of turnover/Total turnover
	aligned per objective	eligible per objective
CCM	0.0%	0.0%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	58.7%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

129

DNSH criteria ("Does Not Significantly Harm")

Climate change mitigation (Y/N)	Climate change adaptation (Y/N)	Water and marine resources (Y/N)	Circular economy (Y/N)	Pollution (Y/N)	Biodiversity (Y/N)	Minimum safeguards (Y/N)	Proportion of taxonomy aligned (A.1) or eligible (A.2) turnover, year 2024 (%)	Category (enabling activity) (E)	Category (transition activity) (T)



-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	E
									T


							31.7 %
							1.6 %
							27.5 %
							60.8 %
							60.8 %

GROUP MANAGEMENT REPORT

Key performance indicators for EU Taxonomy – 2025 CapEx

Economic activities	2025			Substantial contribution criteria
	Codes	CapEx (€ 000s)	Proportion of CapEx, year 2025 (%)	Climate change mitigation (Y,N,N/EL)	Climate change adaptation (Y,N,N/EL)	Water and marine resources (Y,N,N/EL)	Pollution (Y,N,N/EL)	Circular economy (Y,N,N/EL)	Biodiversity (Y,N,N/EL)
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy-aligned)
		-	-	-	-	-	-	-	-
CapEx of environmentally sustainable activities (taxonomy-aligned) (A.1)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which enabling (E)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which transitional (T)		0	0.0%	0.0%
A.2 Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)
				(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)
Manufacture of electrical and electronic equipment	CE 1.2	5,656	33.2%	N/EL	N/EL	N/EL	EL	N/EL	N/EL
Transport by motorbikes, passenger cars and light commercial vehicles	CCM 6.5	466	2.7%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
Installation, maintenance and repair of energy efficiency equipment	CCM 7.3	191	1.1%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
Installation, maintenance, and repair of renewable energy technologies	CCM 7.6	26	0.2%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
Acquisition and ownership of buildings	CCM 7.7	371	2.2%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
CapEx of taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities) (A.2)		6,710	39.4%	6.2%	0.0%	0.0%	33.2%	0.0%	0.0%
A. CapEx of taxonomy eligible activities (A.1+A.2)		6,710	39.4%	6.2%	0.0%	0.0%	33.2%	0.0%	0.0%
B. Taxonomy-non-eligible activities
CapEx of taxonomy-non-eligible activities		10,320	60.6%
Total (A+B)		17,030	100.0%

Table according to footnote (c) of Environmental DA Annex V

	Proportion of CapEx/Total CapEx
	aligned per objective	eligible per objective
CCM	0.0%	6.2%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	33.2%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

131

DNSH criteria ("Does Not Significantly Harm")

Climate change mitigation (Y/N)	Climate change adaptation (Y/N)	Water and marine resources (Y/N)	Circular economy (Y/N)	Pollution (Y/N)	Biodiversity (Y/N)	Minimum safeguards (Y/N)	Proportion of taxonomy aligned (A.1) or eligible (A.2) CapEx, year 2024 (%)	Category (enabling activity) (E)	Category (transition activity) (T)



-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	E
									T


							27.0%
							1.6%
							0.0%
							0.0%
							13.9%
							42.6%
							42.6%

GROUP MANAGEMENT REPORT

Key performance indicators for EU Taxonomy – 2025 OpEx

Economic activities	2025			Substantial contribution criteria
	Codes	OpEx (€ 000s)	Proportion of OpEx, year 2025 (%)	Climate change mitigation (Y,N,N/EL)	Climate change adaptation (Y,N,N/EL)	Water and marine resources (Y,N,N/EL)	Pollution (Y,N,N/EL)	Circular economy (Y,N,N/EL)	Biodiversity (Y,N,N/EL)
A. Taxonomy-eligible activities
A.1 Environmentally sustainable activities (taxonomy-aligned)
		-	-	-	-	-	-	-	-
OpEx of environmentally sustainable activities (taxonomy-aligned) (A.1)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which enabling (E)		0	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
of which transitional (T)		0	0.0%	0.0%
A.2 Taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities)
				(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)	(EL; N/EL)
Manufacture of electrical and electronic equipment	CE 1.2	248	2.4%	N/EL	N/EL	N/EL	EL	N/EL	N/EL
Transport by motorbikes, passenger cars and light commercial vehicles	CCM 6.5	11	0.1%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
Installation, maintenance and repair of energy efficiency equipment	CCM 7.3	55	0.5%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
Acquisition and ownership of buildings	CCM 7.7	144	1.4%	EL	N/EL	N/EL	N/EL	N/EL	N/EL
OpEx of taxonomy-eligible but not environmentally sustainable activities (not taxonomy-aligned activities) (A.2)		457	4.4%	2.0%	0.0%	0.0%	2.4%	0.0%	0.0%
A. OpEx of taxonomy eligible activities (A.1+A.2)		457	4.4%	2.0%	0.0%	0.0%	2.4%	0.0%	0.0%
B. Taxonomy-non-eligible activities
OpEx of taxonomy-non-eligible activities		10,011	95.6%
Total (A+B)		10,468	100.0%

Table according to footnote (c) of Environmental DA Annex V

	Proportion of OpEx/Total OpEx
	aligned per objective	eligible per objective
CCM	0.0%	2.0%
CCA	0.0%	0.0%
WTR	0.0%	0.0%
CE	0.0%	2.4%
PPC	0.0%	0.0%
BIO	0.0%	0.0%

133

DNSH criteria ("Does Not Significantly Harm")

Climate change mitigation (Y/N)	Climate change adaptation (Y/N)	Water and marine resources (Y/N)	Circular economy (Y/N)	Pollution (Y/N)	Biodiversity (Y/N)	Minimum safeguards (Y/N)	Proportion of taxonomy aligned (A.1) or eligible (A.2) OpEx, year 2024 (%)	Category (enabling activity) (E)	Category (transition activity) (T)



-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-
-	-	-	-	-	-	-	-	E
									T


							2.0%
							0.7%
							0.3%
							1.6%
							4.7%
							4.7%

GROUP MANAGEMENT REPORT

Template for nuclear energy and fossil gas-related activities

Table pursuant to Article 8 (6) and (7) of Commission Delegated Regulation (EU) 2022/1214 Annex XII

Row	Nuclear energy-related activities
1	The undertaking carries out, funds, or has exposures to research, development, demonstration, and deployment of innovative electricity generation facilities that produce energy from nuclear processes with minimal waste from the fuel cycle.	NO
2	The undertaking carries out, funds, or has exposures to construction and safe operation of new nuclear installations to produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, as well as their safety upgrades, using best available technologies.	NO
3	The undertaking carries out, funds, or has exposures to safe operation of existing nuclear installations that produce electricity or process heat, including for the purposes of district heating or industrial processes such as hydrogen production, from nuclear energy, as well as their safety upgrades.	NO
Fossil gas-related activities
4	The undertaking carries out, funds, or has exposures to construction or operation of electricity generation facilities that produce electricity using fossil gaseous fuels.	NO
5	The undertaking carries out, funds, or has exposures to construction, re-furbishment and operation of combined heat/cool and power generation facilities using fossil gaseous fuels.	NO
6	The undertaking carries out, funds, or has exposures to construction, re-furbishment and operation of heat generation facilities that produce heat/cool using fossil gaseous fuels.	NO

Birkenfeld, April 23, 2026

STRATEC SE

The Board of Management

135

136

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE 2025 FINANCIAL YEAR OF STRATEC SE

137

Consolidated Balance Sheet | 138

Consolidated Statement of Comprehensive Income | 140

Consolidated Cash Flow Statement | 141

Consolidated Statement of Changes in Equity | 142

Notes to the Consolidated Financial Statements | 144

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEET

as of December 31, 2025

Assets

€ 000s	Note	12.31.2025	12.31.2024
Non-current assets
Goodwill	(01)	49,853	50,975
Other intangible assets	(01)	58,157	62,889
Right-of-use assets	(02)	12,192	15,180
Property, plant and equipment	(03)	64,452	65,065
Non-current financial assets	(07)	4,085	3,472
Non-current other receivables and assets	(08)	294	0
Non-current contract assets	(05)	21,390	20,859
Deferred taxes	(11)	2,162	3,116
		212,585	221,556
Current assets
Inventories	(04)	113,185	121,818
Trade receivables	(06)	56,933	41,578
Current financial assets	(07)	1,345	1,563
Current other receivables and assets	(08)	6,247	7,951
Current contract assets	(05)	8,228	1,209
Income tax receivables	(11)	4,407	2,219
Cash	(26)	23,056	47,164
		213,401	223,502




Total assets		425,986	445,058

Shareholders' equity and debt

€ 000s	Note	12.31.2025	12.31.2024
Shareholders' equity	(09)
Share capital		12,158	12,158
Capital reserve		37,498	37,131
Revenue reserves		189,732	197,267
Treasury stock		-35	-35
Other equity		-2,033	-3,988
		237,320	242,533
Non-current debt
Financial liabilities	(12)	110,653	88,695
Other liabilities	(14)	1,105	1,201
Contract liabilities	(15)	2,039	343
Provisions for pensions	(10)	4,158	5,338
Provisions	(16)	116	190
Deferred taxes	(11)	16,854	16,412
		134,925	112,179
Current debt
Financial liabilities	(12)	24,862	45,565
Trade payables	(13)	12,635	18,447
Other liabilities	(14)	9,757	10,369
Contract liabilities	(15)	4,305	7,235
Provisions	(16)	461	760
Income tax liabilities	(11)	1,721	7,970
		53,741	90,346
Total shareholders' equity and debt		425,986	445,058

139

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the Period from January 1 to December 31, 2025

€ 000s	Note	2025	2024
Sales	(17)	250,863	257,624
Cost of sales	(18)	-186,643	-181,237
Gross profit		64,220	76,387
Research and development expenses	(19)	-15,936	-11,612
Sales-related expenses	(20)	-12,931	-12,456
General administration expenses	(21)	-25,752	-24,445
Income / Expenses from impairment of financial assets and contract assets	(06)	-118	-1,202
Other operating expenses	(22)	-5,761	-6,037
Other operating income	(22)	5,346	6,907
Earnings before interest and taxes (EBIT)		9,068	27,542
Financial income		202	320
Financial expenses		-4,196	-5,902
Other financial result		-227	48
Net financial result	(23)	-4,221	-5,534
Earnings before taxes (EBT)		4,847	22,008
Taxes on income	(11)	-5,089	-5,987
Consolidated net income		-242	16,021
Items that may not be reclassified to profit or loss:
Remeasurement of defined benefit pension plans	(09)	883	-640
Items that may be subsequently reclassified to profit or loss:
Currency translation differences from translation of foreign operations	(09)	1,070	-4,177
Other comprehensive income (OCI)		1,953	-4,817
Comprehensive income		1,711	11,204
Basic earnings per share in €	(24)	-0.02	1.32
No. of shares used as basis (undiluted)		12,155,942	12,155,942
Diluted earnings per share in €	(24)	-0.02	1.32
No. of shares used as basis (diluted)		12,155,942	12,155,942

141

CONSOLIDATED CASH FLOW STATEMENT

for the Period from January 1 to December 31, 2025

€ 000s	Note	2025	2024
I. Operations
Consolidated net income (after taxes)		-242	16,021
Depreciation and amortization		24,741	19,434
Current income tax expenses	(11)	3,972	3,847
Income taxes paid less income taxes received		-12,374	-622
Financial income	(23)	-202	-320
Financial expenses	(23)	4,196	5,902
Interest paid		-3,230	-6,303
Interest received		201	319
Other non-cash expenses		9,668	4,093
Other non-cash income		-2,089	-3,598
Change in net pension provisions through profit or loss	(10)	-1,309	1,037
Change in deferred taxes through profit or loss	(11)	1,117	2,140
Profit (-) / loss (+) on disposals of non-current assets		16	416
Increase (-) / decrease (+) in inventories, trade receivables and other assets		-15,836	12,114
Increase (+) / decrease (-) in trade payables and other liabilities		-9,062	-5,768
Cash flow from operating activities		-433	48,712
II. Investments
Incoming payments from disposals of non-current assets
• Intangible assets		0	16
• Property, plant and equipment		6	2,203
Outgoing payments for investments in non-current assets
• Intangible assets	(01)	-6,952	-8,308
• Property, plant and equipment	(03)	-9,278	-9,881
• Financial assets		-580	0
Cash flow from investing activities		-16,804	-15,970
III. Financing
Incoming funds from taking up of financial liabilities		46,500	16,000
Outgoing payments for repayment of financial liabilities	(12)	-42,053	-26,336
Outgoing payments for repayment of lease liabilities	(12)	-3,456	-3,278
Dividend payments		-7,293	-6,687
Cash flow from financing activities		-6,302	-20,301
IV. Cash-effective change in cash (net balance of I – III)		-23,539	12,441
Cash at start of period		47,164	33,532
Impact of exchange rate movements		-569	1,191
Cash at end of period	(26)	23,056	47,164

CONSOLIDATED FINANCIAL STATEMENTS

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the Period from January 1 to December 31, 2025

€ 000s	Note	Share capital	Capital reserve
January 1, 2024	(09)	12,158	36,273
Equity transactions with owners
• Dividend payment
Allocations due to stock option programs			858
Comprehensive income
Change in scope of consolidation
December 31, 2024	(09)	12,158	37,131
€ 000s	Note	Share capital	Capital reserve
---	---	---	---
January 1, 2025	(09)	12,158	37,131
Equity transactions with owners
• Dividend payment
Allocations due to stock option programs			367
Comprehensive income
December 31, 2025	(09)	12,158	37,498

	Other equity
Revenue reserves	Treasury stock	Pension plan	Currency translation	Group equity
187,867	-35	-881	1,711	237,093
-6,687				-6,687
				858
16,021		-640	-4,177	11,204
66				66
197,267	-35	-1,521	-2,466	242,534
	Other equity
---	---	---	---	---
Revenue reserves	Treasury stock	Pension plan	Currency translation	Group equity
197,267	-35	-1,521	-2,466	242,534
-7,293				-7,293
				367
-242		883	1,070	1,711
189,732	-35	-638	-1,396	237,319

144

NOTES TO THE
CONSOLIDATED
FINANCIAL STATEMENTS
FOR THE 2025 FINANCIAL YEAR
OF STRATEC SE

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

A. GENERAL DISCLOSURES

General information

STRATEC SE designs and manufactures fully automated analyzer systems for its partners in the fields of clinical diagnostics and biotechnology. Furthermore, the STRATEC Group (hereinafter also "STRATEC") provides complex consumables for diagnostics and medical applications. In this, the company covers the entire value chain – from development and design through to production and quality assurance. STRATEC's partners market the systems, software and consumables, in general together with their own reagents, as system solutions to laboratories, blood banks and research institutes around the world. STRATEC develops its products on the basis of its own patented technologies. Customers gain access to these STRATEC technologies by purchasing products or acquiring licenses.

STRATEC SE is a stock corporation under European law (Societas Europaea – SE). In addition to the requirements of German stock corporation law, it is also subject to special European SE regulations, the German legislation governing the implementation of an SE (SE-Ausführungsgesetz), and the German legislation governing the participation of employees of an SE (SE-Beteiligungsgesetz). The company is registered with the number HRB 732007 in the Commercial Register at Mannheim District Court and has its legal domicile at Gewerbestrasse 37, 75217 Birkenfeld, Germany.

These consolidated financial statements were approved for publication by the Board of Management of STRATEC SE on April 23, 2026.

Basis of preparation

The consolidated financial statements compiled by STRATEC SE as the topmost parent company as of December 31, 2025 have been prepared with due application of § 315e (1) of the German Commercial Code (HGB) in accordance with the requirements of the International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB), London, and the Interpretations of the International Financial Reporting Interpretations Committee (IFRS IC) valid and endorsed by the European Union as of the balance sheet date, as well as with the supplementary requirements of German commercial law.

The consolidated financial statements have been prepared on the basis of historic cost with the exception of specific balance sheet line items which are measured at their fair values.

The consolidated financial statements have been prepared in accordance with the going concern principle and denominated in euros (€). Unless otherwise stated, all amounts are denominated in thousand euros (€ 000s). Due to numbers being rounded and presented in € 000s, individual figures in the consolidated financial statements of STRATEC SE may not add up exactly to the totals stated and percentage figures may not correlate exactly with the absolute figures to which they refer.

The financial year for the consolidated financial statements corresponds to the calendar year. The financial statements of all companies included in the consolidated financial statements have been prepared as of the balance sheet date for the consolidated financial statements and based on uniform accounting policies.

The consolidated statement of comprehensive income has been prepared using the cost of sales method.

In the interests of clarity, individual items have been aggregated in the consolidated balance sheet, the consolidated statement of comprehensive income, the consolidated cash flow statement, and the consolidated statement of changes in equity. These are explained in the notes to the consolidated financial statements. The consolidated balance sheet has been structured in line with the maturities of the respective assets and liabilities.

Unless reported otherwise below, the accounting policies applied have not changed since the previous year.

Accounting standards requiring mandatory application for the first time in the current financial year

The following amendment to an accounting standard required mandatory application for the first time in the 2025 financial year.

Standard	Title	Effective date^{1}	EU endorsement
Amended standard
IAS 21	Amendment: Lack of Exchangeability	01.01.2025	11.12.2024

1 For companies like STRATEC whose financial year corresponds to the calendar year

The application of this standard amendment in the 2025 financial year was consistent with the respective transition requirements.

The aforementioned amendment did not have any implications for these consolidated financial statements.

147

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Accounting requirements already published but not yet applied

The IASB and IFRS IC have issued the following standards, amendments, and revisions to standards and interpretations which do not yet require mandatory application. Application of the new and revised standards and interpretations is dependent, among other factors, on their acceptance by the European Union within its IFRS endorsement procedure.

Standard	Title	Effective date^{1}	EU endorsement
New and amended standards and interpretations
Various	Amendments: Annual Improvements to IFRS Accounting Standards – Volume 11	01.01.2026	07.09.2025
IFRS 9, IFRS 7	Amendments: Classification of Financial Assets, Derecognition, Disclosures on Equity Instruments	01.01.2026	05.27.2025
IFRS 9, IFRS 7	Amendments relating to Contracts Referencing Nature-dependent Electricity	01.01.2026	06.30.2025
IFRS 18	Presentation and Disclosure in Financial Statements	01.01.2027	02.13.2026
IFRS 19	Subsidiaries without Public Accountability: Disclosures	01.01.2027	Outstanding
IAS 21	Amendments: Translation to a Hyperinflationary Presentation Currency	01.01.2027	Outstanding

1 For companies like STRATEC whose financial year corresponds to the calendar year

STRATEC does not intend to make any voluntary, premature application of these standards and interpretations or of the relevant amendments.

In the interests of reporting efficiency, only those standards and interpretations have been outlined below which, based on the information currently available and given the business model and business transactions customary at STRATEC, are very likely to have implications for the accounting policies or for the reporting and disclosure of information in STRATEC's consolidated financial statements in future financial years.

IFRS 18 (Presentation and Disclosure in Financial statements):

The IASB published the new accounting standard IFRS 18 (Presentation and Disclosure in Financial Statements) in April 2024. STRATEC is currently working on implementing all effects of the amendments both on the primary components of its financial statements and on the notes to the consolidated financial statements. In general, the standard will result in changes in STRATEC's presentation of information in the income statement

and the consolidated statement of cash flows, as well as in further disclosures in the notes to the consolidated financial statements, such as explanations of the Management-defined Performance Measures (MPM). STRATEC currently reports the following subtotals: "Gross profit" and "Operating earnings (EBIT)". It is performing detailed analysis to determine suitable classification of the line items and ensure that additional subtotals conform to the requirements of IFRS 18 (Presentation and Disclosure in Financial Statements). STRATEC expects changes to arise in this respect, particularly due to the reclassification of currency gains and losses to operations. Furthermore, the new requirements concerning aggregation and disaggregation will lead to changes. STRATEC currently reports both an adjusted EBITDA figure and an adjusted EBIT figure to its investors. It expects these key figures to satisfy the MPM definition. STRATEC is assessing further key figures currently published outside the primary financial reporting framework and reviewing whether these too satisfy the MPM definition.

149

B. ACCOUNTING POLICIES APPLIED

Consolidation principles

Capital consolidation at STRATEC has been performed using the purchase method by offsetting the carrying amounts of investments against the prorated equity of the subsidiaries. This involves accounting for the assets and liabilities identifiable at the subsidiaries at the time of acquisition at fair value and for deferred taxes pursuant to IAS 12 (Income Taxes). Any remaining credit difference from capital consolidation is recognized as goodwill.

The accounting effects of intragroup transactions and of unrealized gains and losses from intragroup transactions are eliminated in the context of consolidation. The income tax implications of consolidation entries have been accounted for by recognizing deferred taxes.

Scope of consolidation

In accordance with the requirements of IFRS 10 (Consolidated Financial Statements), the consolidated financial statements of STRATEC SE (parent company) basically include all companies controlled by STRATEC SE (subsidiaries). Subsidiaries are all companies that are directly or indirectly controlled by STRATEC SE. Control applies if STRATEC has power over the respective company, exposure or rights to variable returns from its involvement in such, and the ability to use its power to affect those returns. This is generally the case if STRATEC holds more than half of the voting rights or if, in exceptional cases, STRATEC otherwise has the ability to affect the returns accruing to STRATEC as a result of contractual arrangements or similar powers over the respective company.

Subsidiaries are deconsolidated as soon as STRATEC SE can no longer exercise control. The assets and liabilities of the subsidiary are derecognized at such time.

The Group was not subject to any material restrictions concerning the addition or utilization of assets at subsidiaries.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

In addition to STRATEC SE the consolidated financial statements as of December 31, 2025 and as of December 31, 2024 include the following subsidiaries by way of full consolidation:

Company	Domicile	Shareholding %
		12.31.2025	12.31.2024
Germany
STRATEC Capital GmbH	Birkenfeld, Germany	100%	100%
STRATEC PS Holding GmbH	Birkenfeld, Germany	100%	100%
European Union
STRATEC Biomedical S.R.L.	Cluj-Napoca, Romania	100%	100%
STRATEC Consumables GmbH	Anif, Austria	100%	100%
RE Medical Analyzers Luxembourg 2 S.à r.l.	Luxembourg, Luxembourg	100%	100%
Diatron Medicinal Instrumentumok Laboratóriumi Diagnosztikai Fejlesztő Zrt	Budapest, Hungary	100%	100%
Mod-n-More Kft.	Budapest, Hungary	100%	100%
Other
STRATEC Switzerland AG	Beringen, Switzerland	100%	100%
STRATEC Biomedical USA, Inc.	Medley, US	100%	100%
Medical Analyzers Holding GmbH	Zug, Switzerland	100%	100%
STRATEC Biomedical Inc.	Medley, US	100%	100%
Diatron (US), Inc.	Medley, US	100%	100%
Natech Plastics, Inc.	Ronkonkoma, US	100%	100%
Diatron MI APAC Private Limited	Delhi, India	100%	100%
STRATEC Biomedical (Taicang) Co. Ltd., Taicang, China	Taicang, China	100%	100%
STRATEC Biomedical Ltd. Shanghai	Shanghai, China	100%	100%

Currency translation

Transactions in foreign currencies: Transactions executed in foreign currencies have been translated into the functional currency using the exchange rate on the transaction date. On the balance sheet date, monetary items have been translated using the reporting date rate, while non-monetary items have been translated at the exchange rate on the date of the transaction. Differences arising upon currency translation have been recognized through profit or loss in the consolidated statement of comprehensive income, provided that the item in question does not form part of a net investment in a foreign operation.

Translation of financial statements of foreign group companies: With the exception of Medical Analyzers Holding GmbH, Zug, Switzerland, whose functional currency is the euro, the functional currency of all other foreign group companies is the respective national currency, as the companies operate independently in financial, economic and organizational terms. Assets and liabilities at group companies with functional currencies other than the euro have been translated into euros at the reporting date rate, while income and expenses have been translated into euros using annual average exchange rates. Equity components have been translated at historic exchange rates upon the respective dates of addition from the Group's perspective. The translation difference arising compared with the reporting date rates has been recognized directly in equity in the "Other equity - Foreign currency translation" item.

The exchange rates between major currencies and the euro developed as follows:

1 €/		Reporting date rate		Average rate
		2025	2024	2025	2024
USD	US	1.175	1.039	1.130	1.082
CHF	Switzerland	0.931	0.941	0.937	0.953
RON	Romania	5.097	4.974	5.042	4.975
HUF	Hungary	385.150	411.350	397.770	395.300
INR	India	105.597	88.934	98.524	90.556
CNY	China	8.226	7.583	8.119	7.788

151

Goodwill and other intangible assets

Intangible assets acquired in return for consideration are measured at cost upon addition. The purchase costs of a separately purchased in tangible asset particularly comprise the purchase price, less any reductions in the price, plus costs directly attributable to preparing the asset for its intended use. The construction costs of an internally generated intangible asset comprise all costs directly attributable to create, produce, and prepare the asset to be capable of operating in the manner intended by the management.

Apart from for goodwill, subsequent measurement is based on the cost model. As all other intangible assets apart from goodwill and assets not yet ready for use currently have limited useful lives, their cost has been amortized in accordance with these, generally using the straight-line method unless the actual decline in their value requires another form of amortization. Furthermore, account is also taken where necessary of impairments (see "Impairment tests"). If the reasons for impairment no longer apply, the respective assets are written back to a maximum of amortized cost.

Goodwill is not subject to scheduled amortization.

Amortization of other intangible assets has been based on the following useful lives:

Useful life in years

	2025	2024
Acquired technologies	7 - 15	7 - 15
Internally generated intangible assets	5 - 12	5 - 12
Acquired patents	12 - 19	12 - 19
Acquired trademarks	10	10
Acquired customer relationships	5 - 12	5 - 12
Other rights and values
Software and licenses	1 - 8	1 - 8
FDA certifications	8	8
Prohibitions on competition	2	2

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Government grants

Government grants that are used to promote investment and are directly attributable to the respective investments are deducted when the investment items are capitalized.

Non-repayable grants received for research and development projects as part of project funding are expense-related and are initially deferred and offset against the related expenses in the consolidated statement of comprehensive income in the year in which the expenses are incurred.

Property, plant and equipment

Property, plant and equipment are measured upon initial recognition at cost in accordance with IAS 16.15 et seq.

Subsequent measurement is based on the cost model. Accordingly, in subsequent periods the costs recognized are reduced by depreciation, in general using the straight-line method, where the respective assets are depreciable. Furthermore, account is also taken where necessary of impairments (see "Impairment tests" below). If the reasons for impairment no longer apply, the respective assets are written back to a maximum of amortized cost.

Costs incurred to repair or maintain items of property, plant and equipment have generally been recognized through profit or loss. Costs incurred for measures expected to lead to an inflow of economic benefits in future have been capitalized as retrospective costs.

Depreciation of property, plant and equipment has been based on the following useful lives:

Useful life in years

	2025	2024
Buildings	12 - 33	12 - 33
Outdoor facilities	3 - 30	3 - 30
Technical equipment and machinery	1 - 20	3 - 20
Vehicles	4 - 6	4 - 6
Tools	2 - 8	2 - 8
IT components	2 - 5	2 - 5
Other plant and office equipment	1 - 25	1 - 25

Gains or losses incurred upon the sale, decommissioning, or scrapping of items of property, plant and equipment have been recognized in other operating income or expenses in the amount of the difference between the potential proceeds on disposal and the residual carrying amount.

Leases

A lease is a contract, or part of a contract, that conveys the right to use an identified asset for a period of time in exchange for consideration.

In its capacity as a lessee, STRATEC recognizes right-of-use assets for leased items and liabilities for the payment obligations thereby entered into for basically all leases in its consolidated balance sheet. STRATEC generally excludes leases of intangible assets from the scope of IFRS 16 (Leases). In addition, STRATEC exercises its option under IFRS 16 (Leases) not to apply the standard to low-value leases items (expenses of € 0k were recognized for these in the 2025 financial year; previous year: € 76k) and short-term leases (expenses of € 188k were recognized for these in the 2025 financial year; previous year: € 236k). The lease instalments payable for these leases are expensed on a straight-line

basis in line with their allocation to individual functional areas in the consolidated statement of comprehensive income. For contracts including lease and non-lease components, STRATEC has drawn on the option of not separating these components. When determining the contract term, extension and termination options have only been accounted for when the exercising or non-exercising of such options is sufficiently certain.

As of the provision date, lease liabilities comprise the lease payments listed in IFRS 16.27 which have not yet been made. These are discounted using the incremental borrowing rate as of the provision date, as determining the discount rates inherent in individual contracts would involve disproportionate expense. The incremental borrowing rate is determined based on the risk-free interest rate differentiated by currency and term, plus a term-differentiated creditworthiness premium consistent with STRATEC's rating, and is then adjusted to account for a collateral markdown differentiated by leased item or a liquidity markdown. In subsequent measurement, lease liabilities are increased by interest expenses and reduced by the lease payments made. Lease liabilities are revalued to account for changes in lease payments.

Right-of-use assets are measured at cost and, alongside the respective lease liabilities, also include the components listed in IFRS 16.24 as of the provision date. These assets are subsequently measured at amortized cost, taking due account of impairments if applicable. Depreciation is recognized on a straight-line basis over the term of the respective contract.

Depreciation of right-of-use assets is based on the following useful lives:

Useful life in years

	2025	2024
Land and buildings	1 - 11	1 - 11
Vehicles	3 - 6	2 - 6
Other plant and office equipment	5	5
Technical equipment and machinery	3 - 4	1 - 4

In the land and buildings category, STRATEC chiefly leases production and office buildings, as well as warehouse and parking space. The lease arrangements include conditions that basically conform to customary practice in the industry. The lease arrangements provide for extension options in some cases and thus provide STRATEC with the greatest possible flexibility. Further future outflows of funds may arise due to lease payments which are indexed or based on utilization volumes.

Specifically, potential future outflows of funds not accounted for in the measurement of lease liabilities include:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Due to variable lease payments | 1,378 | 2,551 |
| Due to low-value assets | 0 | 0 |
| Due to short-term leases | 58 | 95 |
| Total | 1,436 | 2,646 |

STRATEC expects to exercise the extension options contained in the current lease agreements, meaning that the payments have been taken into account in the measurement of the lease liability.

Future outflows of funds for leases which STRATEC has entered into in its capacity as lessee, but which had not begun as of the balance sheet date, amounted to € 81k (previous year: € 152k).

Further details about leases can be found in our comments in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (2) Right-of-use assets" and Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (12) Non-current and current financial liabilities".

As in the previous year, STRATEC did not have any leases in which the company acted as lessor as of December 31, 2025.

153

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Impairment tests

Impairment tests pursuant to IAS 36 (Impairment of Assets) are performed on goodwill, right-of-use assets, and other intangible assets with unlimited or indefinite useful lives, as well as on intangible assets not yet ready for use, at least once a year and, in the case of other intangible assets and right-of-use assets with limited useful lives and of property, plant and equipment, if there are specific indications of impairment.

Impairment losses have been recognized through profit or loss in the consolidated statement of comprehensive income to the extent that the recoverable amount of the asset, i.e. the higher of its fair value less costs to sell and its value in use, falls short of its carrying amount.

A review is performed at least once a year to ascertain whether there is any indication that the reason for impairment losses already recognized no longer applies or that the amount of impairment has reduced. In this case, the recoverable amount is newly determined and the impairment losses already recognized, unless they involve goodwill, are correspondingly reversed.

In principle, the recoverable amount has been determined for each individual asset where such asset generates cash flows that are largely independent of those generated by other assets. Where this is not possible, the recoverable amount has been determined on the basis of a group of assets representing a cash generating unit. In assessing whether the cash flows are largely independent, STRATEC accounts for various factors, including the questions as to how the management manages the company's activities or how the management reaches decisions concerning the continuation or retirement of assets or the discontinuation of company activities. Consistent with this approach, the cash generating units referred to for goodwill impairment tests in the 2025 financial year are "STRATEC" and "Natech". These are unchanged on the previous year's balance sheet date.

If an impairment is identified at a cash generating unit, the carrying amount of the goodwill allocated to this cash generating unit is initially reduced. After this, if the recoverable amount falls short of the carrying amount, the other non-current assets at the cash generating unit are proportionately reduced based on the carrying amounts of each individual asset at the cash generating unit. In allocating impairment losses, the carrying amount of an individual asset is not written down below its fair value. The amount of impairment losses that would otherwise have been allocated to the asset is proportionately allocated to the other assets at the cash generating unit.

The recoverable amount for the cash generating units as of December 31, 2025 (previous year: December 31, 2024) has been determined by reference to their value in use, defined as the present value of future net inflows of cash. The forecast future net inflows of cash have been based on STRATEC's current budgets. As in the previous year, the detailed budget period covers five years. Future net inflows of cash are budgeted in the functional currency. The budgets have in turn been based on assumptions concerning future sales volumes and sales prices, as well as on expected costs. Raw materials prices are accounted for on their given terms. Net inflows of cash beyond the detailed budget period have been presented as perpetuity, taking due account of growth rates based on current market information. Should the value in use fall short of the carrying amount of the cash generating unit, then the fair value less costs to sell has to be determined.

Net inflows of funds have been discounted at capital cost rates. The capital costs of cash generating units have been calculated as the weighted average of their equity and debt capital costs (WACC). To calculate the weighted capital costs, reference has been made on the one hand to the costs of equity, which comprise the risk-free base rate and the risk premium (market risk premium, multiplied by a beta factor based on a peer group analysis) and on the other hand on the cost of borrowing, which corresponds to the average cost of borrowing at the peer group companies. Equity and debt capital costs have been weighted based on the average capital structure at the peer group companies.

154

The selection of peer group companies is regularly reviewed and adjusted if necessary. Given the risk and return profiles of the cash generating units thereby reviewed, the costs of capital have been calculated on an individual basis. The key parameters are as follows:

Cash generating unit	Pre-tax WACC % 2025	Pre-tax WACC % 2024
STRATEC	10.74	10.61
Natech	11.90	11.37

The recognized goodwill of € 49,853k is attributable to the company acquisitions made by STRATEC (previous year: € 50,975k). An amount of € 12,960k is attributable to the acquisition of the Natech Group in the 2023 financial year (previous year: € 14,660k). The change compared with the previous year is due to currency translation. For impairment testing purposes, goodwill has been allocated to those cash generating units (CGUs) benefiting from the synergies.

As of December 31, goodwill has therefore been allocated as follows:

€ 000s	CGU STRATEC		CGU Natech		Total
	2025	2024	2025	2024	2025	2024
Carrying amount of goodwill	36,893	36,315	0	0	36,893	36,315
	12,374	13,997	586	663	12,960	14,660
	49,267	50,312	586	663	49,853	50,975

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

As in the previous year, in line with IAS 36 (Impairment of Assets) STRATEC performed the annual impairment test for these goodwill items as of December 31. Also as in the previous year, this did not lead to the recognition of any impairment loss in the year under report.

The following key assumptions have been used to determine the recoverable amounts of these cash generating units:

The budget for the recoverable amount has been based on average sales growth of 14.4% (previous year: 8.5%) and a budgeted average free cash flow margin of 10.1% (previous year: 10.6%). These assumptions reflect both past experience for the free cash flow margins, although these witnessed significant volatility in the past five years and in some cases also fell short of the planned average, and the management's expectations for the future. In perpetuity, a projected growth rate of 1.0% has been assumed (previous year: 1.0%).

Average sales growth of 13.1% (previous year: 10.3%) and a budgeted average free cash flow margin of 9.0% (previous year: 12.2%) have been assumed. These assumptions reflect the management's expectations for the future. In perpetuity, a projected growth rate of 1.5% has been assumed (previous year: 1.5%).

As in the previous year, the sensitivity analysis assumed a reduction in the future cash flow and an increase in weighted costs of capital by 10% each, as changes on this scale would appear reasonable and possible, especially from a long-term perspective. On this basis, STRATEC concluded that there were no indications of any potential impairment in the goodwill reported for any of the cash generating units at STRATEC.

156

Inventories include assets held for sale in the normal course of business (finished products and merchandise), assets currently in the process of being manufactured for sale (unfinished products), and assets consumed during the manufacturing process or in the performance of services (raw materials and supplies).

Inventories are measured at cost or, if lower, at net realizable value.

The acquisition costs of raw materials, supplies, and merchandise are based on average procurement prices. The manufacturing costs for unfinished and finished products include both directly allocable manufacturing wage and material expenses and a prorated share of material and production overheads, including depreciation. Overheads are determined by reference to normal capacity utilization. Administration expenses are included to the extent that they can be directly allocated to production. Sales-related expenses are not included.

Financial instruments

A financial instrument is a contract that gives rise to a financial asset of one entity and simultaneously to a financial liability or equity instrument of another entity.

Financial assets or financial liabilities are recognized in the consolidated balance sheet as soon as STRATEC becomes a party to the contractual requirements of the financial instrument. Trade receivables are recognized at the time at which they arise.

First-time measurement of financial assets and financial liabilities is based on their respective fair values. Transaction costs are accounted for, unless the financial instrument is measured at fair value through profit or loss. Trade receivables without any significant financing component are measured at their respective transaction prices.

Depending on its allocation upon first-time recognition to the various categories provided for by IFRS 9 (Financial Instruments), a financial asset (debt or equity instruments) is subsequently measured either at amortized cost or at fair value through profit or loss or in equity. The allocation to the categories provided for by IFRS 9 (Financial Instruments) is based in each case on the objectives of the business model and characteristics of the respective cash flows.

Unless it is designated as measured at fair value through profit or loss (FVTPL), a debt instrument is measured at amortized cost (AC debt instrument) when it is held within a business model whose objective involves holding financial assets to collect contractual cash flows and the contractual terms result in cash flows at fixed times that are solely payments of interest and principal on the principal amount outstanding. In accordance with the requirements of IFRS 9 (Financial Instruments), amortized cost is determined using the effective interest method and taking account of any expected impairments. Interest income, exchange rate gains and losses, impairments, and gains or loss arising upon derecognition are recognized through profit or loss.

Unless it is designated as FVTPL, a debt instrument is measured at fair value with any changes in its value being recognized through other comprehensive income (FVTOCI debt instrument) when it is held within a business model whose objective involves holding financial assets both to collect contractual cash flows and to sell these and its contractual terms result in cash flows at fixed times that are solely payments of interest and principal on the principal amount outstanding. Interest income, exchange rate gains and losses, and impairments are recognized through profit or loss. Other net gains or losses are recognized in other comprehensive income (OCI). The risk provision is therefore not offset against the carrying amount. Upon retirement, the accumulated OCI is reclassified to profit or loss.

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Unless it is held for trading, an equity instrument is measured at fair value with any changes in its value being recognized through other comprehensive income (FVTOCI equity instrument) if STRATEC has irrevocably elected upon initial recognition to present subsequent changes in the fair value of the equity instrument in other comprehensive income. This election may be made on a case-by-case basis for each equity instrument. Dividends are generally recognized as income through profit or loss. Other net gains or losses are recognized in other comprehensive income. Upon retirement, accumulated OCI is reclassified to revenue reserves.

Financial assets (debt or equity instruments) not measured at amortized cost or at FVTOCI are measured at fair value with any changes in their value being recognized through profit or loss (FVTPL). Measurement also includes derivative financial instruments, except for those designated as hedging instruments and effective as such, and financial assets held or managed for trading and whose value changes are assessed by reference to their fair values. Furthermore, upon initial recognition companies may irrevocably designate financial assets that otherwise meet the conditions for measurement at amortized cost or at FVTOCI as measured at FVTPL ("fair value option"). As in the previous year, STRATEC did not exercise this option. Net gains and losses, including all interest and dividend income, are recognized through profit or loss.

Financial liabilities are subsequently measured at amortized cost, unless they are measured at fair value through profit or loss (FVTPL). Measurement at fair value through profit or loss begins as soon as a financial liability is classified as held for trading, a derivative financial instrument is in place, except for those designated as hedging instruments and effective as such, or is designated as such upon initial recognition. Net gains or losses, including interest expenses, are recognized through profit or loss. Other financial liabilities are measured at amortized cost using the effective interest method. Interest expenses and exchange rate gains and losses are recognized through profit or loss. Gains or losses arising upon derecognition are also recognized through profit or loss.

Financial assets are derecognized when the contractual rights to payment from the financial assets no longer exist or the financial asset has been transferred with all of its material risks and rewards. Financial liabilities are derecognized when the contractual obligations have been settled, rescinded or have expired.

Financial assets and liabilities are netted and presented in the consolidated balance sheet as net amounts when STRATEC currently has a legally enforceable right to offset the amounts thereby recognized and intends either to obtain settlement on a net basis or to simultaneously settle the liability upon recovery of the respective asset.

STRATEC deploys derivative financial instruments, and particularly forward exchange transactions, to reduce its currency risks. Derivatives are measured at fair value both upon initial recognition and when measured subsequently. Changes in their fair value are recognized directly through profit or loss in other operating income or expenses, as STRATEC has to date not designated any derivative financial instruments as hedge instruments.

Fair values of financial instruments

The fair values of financial instruments recognized at fair value in the consolidated balance sheet are based on the data and input parameters used for measurement in accordance with the three-level hierarchy stipulated by IFRS 13 (Fair Value Measurement):

Level 1: Stock exchange price or price on an active market for similar financial instruments.
Level 2: Input parameters other than the listed prices in Level 1 that are directly or indirectly observable.
Level 3: Input parameters not observable for the financial instruments.

The hierarchy grants the highest priority to Level 1 and the lowest priority to Level 3.

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Cash

Cash comprises cash in hand, credit balances at banks, and short-term deposits with original terms of less than three months and is measured at amortized cost.

Taxes on income

Taxes levied on taxable profit in individual countries and changes in deferred tax items are reported as taxes on income. The income taxes reported have been calculated in accordance with the country-specific tax legislation valid or enacted as of the balance sheet date, and in the amount at which they are expected to be paid or refunded. Other taxes levied on items other than income have been recognized within the individual functional areas in the consolidated statement of comprehensive income and in other operating expenses.

Deferred taxes have been calculated using the liability method for temporary differences between the amounts recognized for assets and liabilities in the IFRS and tax balance sheets (except for goodwill), as well as for consolidation entries and tax-reducing claims on loss carryovers likely to be recoverable in subsequent years.

Deferred tax assets on temporary differences and tax loss carryovers have only been capitalized to the extent that sufficient future taxable income will likely be available to utilize these deferred tax assets. The assessment of the recoverability of deferred tax assets has been based on the impact on earnings of reversing taxable temporary differences, short and medium-term forecasts concerning the future earnings situation of the respective group company, and potential tax strategies. In making this assessment, STRATEC is further bound by the tax law norms valid or enacted as of the balance sheet date. Future legislative amendments may thus make it necessary to adjust the respective values through profit or loss.

Deferred taxes on temporary differences of € 4,708k relating to interests in subsidiaries were not recognized (previous year: € 4,758k), as STRATEC is able to control the timing of any reversal of these differences and these are unlikely to be reversed in the foreseeable future.

Current and deferred tax assets and liabilities have been reported on a net basis in cases where they refer to the same taxable entity and the same tax authority. Where gains and losses have been recognized directly in equity, the same applies for the relevant deferred tax assets and liabilities.

The way in which tax law is applicable to a specific transaction or circumstance is potentially unclear. Whether a specific tax treatment is acceptable under tax law may potentially remain unknown until the relevant tax authority or court reaches a decision at a later point in time. Any decision by the tax authority to contest or review a specific tax treatment may therefore impact on STRATEC's financial reporting in respect of its current or deferred tax assets or liabilities. In this regard, STRATEC continually assesses the likelihood of a tax authority accepting an uncertain tax treatment. When addressing the question as to whether an uncertain tax treatment should be viewed separately or together with one or several other uncertain tax treatments, STRATEC selects that method which is better suited to predicting the manner in which the uncertainty will be resolved. In particular, STRATEC takes account of the manner in which it prepares its income tax returns and how this fits the tax treatments, and how STRATEC believes that the tax authority/authorities will perform their review and resolve any problems potentially arising thereby.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Provisions for pensions and similar obligations

Pension provisions at STRATEC involve both defined contribution and defined benefit schemes and are structured in accordance with legal requirements in the various countries and based on individual commitments.

In defined contribution pension schemes, STRATEC is obliged to pay contributions to state or private pension companies in accordance with statutory or contractual requirements. Apart from these contributions, STRATEC is not subject to any further payment obligations. Current contributions have been recognized as expenses in the consolidated statement of comprehensive income.

At STRATEC, the defined benefit pension schemes take a variety of forms due to the different country-specific requirements in Germany, Austria, and Switzerland. To cover the commitments made, STRATEC makes contributions to external plan assets in some cases. In line with IAS 19 (Employee Benefits), the present value of pension obligations has been calculated using the projected unit credit method. This involves future obligations being measured using actuarial methods. STRATEC's calculation is based on demographic assumptions, such as personnel turnover, mortality, and disability rates, as well as assumptions regarding the discount rate and benefit levels, in particular those resulting from future increases in the beneficiaries' income and pensions. The determination of the discount rate and, consequently, the calculation of net interest on the net liability from defined benefit obligations is based on the yields of high-quality, fixed-interest corporate bonds available in the market as of the balance sheet date. The currency and terms of the underlying bonds are congruent with the currency and expected maturities of the post-employment pension obligations to be satisfied. The fair value of the plan assets has been deducted from the present value of the pension obligations. The obligations and plan assets are measured annually. Actuarial calculations are performed as of the balance sheet date. Remeasurements for actuarial items are recognized directly in "Other comprehensive income".

Other provisions

Other provisions have been recognized to cover legal or constructive obligations to third parties resulting from past events which are likely to lead to a future outflow of resources and for which the expected amount of the obligation can be reliably estimated. For individual obligations, the provision stated corresponds to the amount most likely to be incurred.

Such obligations have been recognized at the present values of the expected outflow of resources where this is expected to occur later than in the following year. Refund claims due from third parties have been recognized separately from provisions to the extent that their realization is virtually certain.

At STRATEC, other provisions include those stated for obligations resulting from guarantees and warranties. The calculation of the scope of obligation for guarantees and warranties has been based on the sales involving such guarantees thereby generated, on the respective contractual warranty periods, as well as on past empirical values, which are adapted on the basis of the implications of currently observable information and data, thus supplementing the implications of historic values by reference to current information and data.

Share-based payment transactions

IFRS 2 (Share-based Payment) makes a distinction between transactions that are cash-settled and those that are equity-settled. In the financial year under report, STRATEC recognized the following arrangements that are within the scope of IFRS 2 (Share-based Payment):

Cash-settled stock appreciation rights (SARs) and equity-settled stock options for employees.

Goods and services received for cash-settled share-based payments (stock appreciation rights – SARs) are measured at each balance sheet date and settlement date at the fair value of the respective liability, which is determined using recognized option pricing models. Changes in fair value are recognized through profit or loss.

Given the lack of a separately determinable fair value for the services involved, goods and services received for equity-settled share-based payments (stock options) have been measured at the fair value of the equity instruments as of the grant date and, in the case of stock options, using recognized option pricing models.

Where the exercising of equity instruments granted or of the right to cash payment is dependent on the performance by the contractual party of a specific period of service, it is assumed that the services to be performed by the counterparty as consideration will be received during the vesting period in future. The payment expenses are therefore recognized in equity over the vesting period within which the beneficiaries acquire an unrestricted claim to the instruments thereby committed.

Contingent liabilities

Contingent liabilities are potential obligations resulting from past events whose existence is conditional on the materialization or otherwise of one or several uncertain future events not fully within STRATEC's control. Such obligations are not recognized in the balance sheet, as the outflow of resources is deemed unlikely or the scope of obligations cannot be reliably estimated.

Recognition of sales, cost of sales, research and development expenses

The core principles governing the recognition of sales, as well as of cost of sales and research and development expenses, in respect of STRATEC's business model are as follows:

If they relate to proprietary development projects, i.e. to projects not governed by a contract with a customer which do not involve the agreement of a performance obligation with the transfer of intellectual expertise from the development, the development expenses incurred are generally recognized as expenses in the period in which they are incurred, with the exception of research and development projects acquired upon company acquisitions and development expenses cumulatively meeting the criteria stipulated

in IAS 38.57. Capitalized development expenses are tested for impairment at least once a year in line with IAS 36 (Impairment of Assets) in cases where they are not yet ready for their intended use. Impairment losses are recognized when the carrying amount of the capitalized assets exceeds the recoverable amount. Once ready for their intended use, assets relating to proprietary development projects are amortized, generally over a period of five to twelve years. Development expenses of € 6,820k relating to proprietary development projects were capitalized as internally generated intangible assets in the 2025 financial year (previous year: € 7,969k).

Proprietary development projects are divided into the development of components (hardware, modules, and software) and platform projects. While internally developed components are incorporated into both customer and STRATEC platform projects, for platform projects STRATEC independently develops analyzer systems for subsequent marketing to various customers. Sales from the sale of analyzer systems, service parts, and consumables are recognized when STRATEC transfers the respective component to a (platform) customer.

Pursuant to IAS 38.54, expenses attributable to research expenses are expensed in the period in which they are incurred.

Furthermore, development cooperations (OEM partnering business) play a significant role in STRATEC's business model both in quantitative and qualitative terms. In the context of development cooperations, STRATEC develops and supplies analyzer systems and recognizes sales from development and other services, as well as from the sale of analyzer systems, service parts, consumables, and licenses. These are based on STRATEC's customer contracts and the performance obligations contained therein, which are individually identified and presented separately for the purpose of recognizing sales.

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Sales are recognized when or as STRATEC transfers control over goods or services to customers, either at a given point in time or over a given period of time. Sales of analyzer systems, service parts, and consumables are generally recognized at the given point in time, with such time being determined by reference to the transfer of ownership and the transfer of control. In development cooperations involving a minimum purchase quantity, sales are recognized over time using an output-based method (based on analyzer systems delivered). Sales from licenses are generally recognized at a point in time upon the transfer of control, as the customer obtains an unrestricted right to use the intellectual property at the time the license is granted. Sales from other services are generally recognized over the period of time in which the services are performed in accordance with the percentage of completion.

Sales from development performance obligations in the context of development cooperations are generally recognized over a period of time due to the contractual arrangements in STRATEC's business model. Alongside the development of an analyzer system, the development performance obligation also includes the delivery of prototypes, verification, and validation systems, as their delivery cannot be separated from the development service. In general, customers pay for development services by way of milestone payments made during or at the end of the period in which the development performance obligation is satisfied. In addition, the transaction price is also allocated further to the development obligation by allocating elements of the consideration from the purchase of an agreed minimum quantity of analyzer systems. As well as the performance obligations, some development cooperations involve further performance components, such as the delivery of tools that are used by STRATEC in the production of the analyzer system. Customers can generally use these tools independently or through third parties without STRATEC having to perform any integration work. Accordingly, these contract components are recognized as separate performance obligations.

The accounting principles and material accounting judgments in connection with STRATEC's performance obligations are summarized below:

The performance obligations relating to the delivery of analyzer systems, service parts, and consumables in the context of development cooperations and platform projects are generally fulfilled upon delivery. Payment terms vary from advance payment to a maximum payment target of 120 days.

The performance obligations arising from development and other services are generally satisfied over a specific period of time, taking due account of the respective customer contracts. As a general rule, customers make non-refundable milestone payments during the development phase. The payment targets for invoiced development work usually amount to between 30 and 60 days.

At the time at which a contract is agreed, STRATEC does not recognize an asset or liability for the resultant pending transaction. Only when one of the parties to the contract meets its obligation does STRATEC recognize a contract asset or contract liability in its consolidated balance sheet. A contract liability exists when the customer has already paid all or part of the consideration due for the promised services before STRATEC has transferred these to the customer. In the event that STRATEC provides its services and the customer has not yet paid consideration, STRATEC reviews whether its claim to payment of the consideration is conditional or unconditional. A conditional claim leads to the recognition of a contract asset, while an unconditional claim leads to the recognition of a trade receivable. In STRATEC's business model, this may be the case for a development performance obligation satisfied over time for which the costs of satisfying the development performance obligation exceed the consideration paid by the customer during the period in which the service is performed. Furthermore, the arising of an unconditional payment claim in connection with the development performance obligation may also depend on the satisfaction of further contractually agreed performance obligations. If the customer makes milestone payments during the development phase that exceed STRATEC's service performance as of the balance sheet date, STRATEC recognizes the portion of the milestone payments exceeding the progress of performance as contract liabilities.

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Sales are recognized in the amount which STRATEC expects to receive for satisfying the performance obligations. Variable consideration is included in the transaction price when it is highly likely that no significant cancellations will arise for the cumulative sales thereby recognized and as soon as the uncertainty underlying the variable consideration no longer applies. Variable consideration is determined using the experience method or the most likely amount method. Both the determination of variable consideration and the assessment of the likelihood of any potential cancellation of sales are subject to discretionary decisions. Fee components that have to be withheld for third parties, such as sales taxes and revenue reductions, e.g. discounts and bonuses, are deducted from the sales recognized. STRATEC adjusts the amount of promised consideration to account for the effects of significant financing components when the period between satisfaction of a performance obligation and payment for such is expected to amount to more than one year. STRATEC usually has significant financing components when development performance obligations are satisfied over a period of time and consideration is only received upon completion of development. Financing components are evaluated for each contract and are only significant when factors such as a lower cash purchase price and the combined effect of the passage of time and market interest rates give reason to expect a significant variance from the agreed consideration. STRATEC recognizes a provision for its obligation to repair or replace defective products under guarantee and warranty conditions.

Additional contract acquisition costs are directly expensed when the amortization period does not amount to more than one year. As a general rule, STRATEC does not incur any additional costs that would not have arisen without corresponding contractual agreements. The costs incurred by STRATEC to acquire contracts are therefore recognized as expenses at the time at which they are incurred.

Should STRATEC be contractually obliged to transfer several performance obligations to a customer, the contractually promised consideration is divided on the basis of the standalone selling price at the time at which the contract was concluded. Standalone selling prices are not directly observable within STRATEC's development cooperation business model, i.e. STRATEC does not separately transfer similar goods and services to similar customers. In this case, the standalone selling price for a good or service must be estimated using a suitable method. For this purpose, STRATEC generally uses the "expected-cost-plus-a-margin" approach. STRATEC recognizes sales from performance obligations satisfied over time based on the percentage of completion. Particularly given the project-specific, cost-dependent nature of these development services, the cost-to-cost method (i.e. input-based approach) is an appropriate measure for determining the percentage of completion. The costs incurred reliably reflect the actual consumption of resources and project progress, thereby ensuring period-based recognition of sales over time.

Discretionary decisions and forward-looking assumptions

The preparation of the consolidated financial statements requires a certain number of discretionary decisions and forward-looking assumptions to be made which have implications for the method of statement and volume of assets, liabilities, expenses, income and contingent liabilities thereby recognized.

In preparing the consolidated financial statements, STRATEC also accounted for the current macroeconomic climate. To the extent that these were relevant, the implications for the measurement of assets and liabilities were considered. Due account was also taken of inflation and changes in interest rates. The implications of inflation for future cash flows and of interest rate changes for the costs of capital were suitably factored into the calculation of recoverable amounts. This did not result in any material implications for the measurement of asset impairments attributable to these uncertain economic conditions. Due account was also taken of the implications of changes in interest rates for the measurement of pension obligations and other liabilities. The Russia-Ukraine war did not have any direct material implications on measurement (e.g. in the form of impairments), but nevertheless influenced the macroeconomic climate.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

In preparing the consolidated financial statements, climate-related issues are also considered in connection with material discretionary decisions and when making estimates. These issues did not have any implications for the present financial statements.

The most important discretionary decisions and forward-looking assumptions, as a result of which there may be a substantial risk of significant adjustments being required in the assets and liabilities thereby recognized in the coming financial year, are presented in greater detail below:

Discretionary decisions

1. Capitalization of internally generated intangible assets in connection with the development, or development stage, of a proprietary development project

The assessment as to whether the requirements for capitalization have been met in each individual case is subject to significant discretionary decisions. Given the empirical values available in the fields of development and project management, STRATEC assumes that the estimates in terms of technical feasibility, expected overall costs and market conditions are sufficiently reliable.

2. Recognition of development cooperations and recognition of sales

With regard to the discretionary decisions relating to the recognition of development cooperations and recognition of sales pursuant to IFRS 15 (Revenue from Contracts with Customers), reference is made to the information provided under "Recognition of sales, cost of sales, research and development expenses" in this section.

3. Allocation of goodwill to cash generating units for impairment testing purposes

The allocation of goodwill acquired upon company acquisitions to cash generating units for impairment testing purposes pursuant to IAS 36 (Impairment of Assets) is subject to significant discretionary decisions. From the takeover date onwards, STRATEC allocates the goodwill resulting from any company acquisition to each cash generating unit at the company intended to benefit from the synergies expected to arise on account of the business combination. STRATEC works with appropriate key figures to determine the potential synergies expected in each case.

4. Determination of functional currency

When determining the functional currency of a foreign business operation and deciding whether its functional currency is identical with that of the reporting company, reference has to be made to the indicators specified in IAS 21 (The Effects of Changes in Foreign Exchange Rates). When these indicators provide a mixed picture and the functional currency is not immediately apparent, STRATEC determines at its own discretion which functional currency best reflects the economic implications of the underlying business transactions, events and circumstances. In the case of foreign group companies, the respective national currencies have accordingly been chosen as the functional currencies with the exception of Medical Analyzers Holding GmbH, Zug, Switzerland, whose functional currency is the euro.

5. Assessing whether the exercising or non-exercising of an extension or termination option for a lease is sufficiently certain

Numerous lease contracts, particularly for buildings, include extension and termination options. The extensions to terms resulting from the exercising or non-exercising of such options may only be accounted for when determining the lease contract term if they are sufficiently certain. The assessment as to whether the exercising or non-exercising of such options is sufficiently certain is subject to discretionary decisions. STRATEC accounts for all significant facts and circumstances that would provide the company with an economic incentive to exercise or not exercise the respective option, as well as for decisions taken in the past.

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Forward-looking assumptions

1. Determination of the recoverable amount when testing goodwill for impairment under IAS 36 (Impairment of Assets)

Due to the large number of variables involved, as well as to dynamic developments in the underlying framework, the goodwill impairment test (carrying amount as of December 31: € 49,853k; previous year: € 50,975k) is subject to a difficult assessment involving a significant degree of uncertainty in the estimates used. The principal assumptions underlying the impairment test performed at each balance sheet date are outlined under "Impairment tests" in this section.

2. Determination of the recoverable amount when testing other intangible assets for impairment under IAS 36 (Impairment of Assets)

Other intangible assets (e.g. capitalized development expenses) are tested for impairment either upon the occurrence of a triggering event (where the respective assets are subject to scheduled amortization) or at least once a year (where the respective assets are not subject to scheduled amortization) (carrying amount as of December 31: € 58,157k; previous year: € 62,889k). These impairment tests are also basically subject to the same difficulties and estimation uncertainties as the goodwill impairment test.

3. Determination of the "expected credit losses" upon subsequent measurement of financial assets

At STRATEC, the "expected credit losses" upon subsequent measurement of trade receivables (carrying amount as of December 31: € 56,933k; previous year: € 41,578k) are determined on the basis of a sophisticated method which accounts for the rating of the debtor, the number of days overdue, and the trade credit insurance policies concluded to minimize default risk. Due to dynamic developments in underlying conditions, the determination of the discount rates to be applied to impaired trade receivables is particularly subject to considerable estimation uncertainty.

4. Determination of the interest rate implicit in a lease

To calculate lease liabilities (carrying amount as of December 31: € 12,450k; previous year: € 15,578k), the future lease payments are discounted using an interest rate. This interest rate corresponds to the interest rate implicit in the lease, where this can be determined. Should this not be possible, the lessee should refer to its own incremental borrowing rate.

The interest rate implicit in the lease at the lessor is often not available to the lessee. In many cases, lessees therefore have to refer to the incremental borrowing rate (hereinafter also "IBR"). The IBR is an interest rate that is specific to each company and, as a rule, specific to each individual lease agreement and legal unit. For this purpose, comparable leased items may be aggregated into groups of leased items, such as lease arrangements for comparable vehicles on comparable terms and in a comparable setting. The main factors determining the IBR are the term of the lease, the currency in which it is executed, the creditworthiness of the lessee, the payment dates, the economic environment in which the leased item is deployed, collateral by way of the leased item, the specific features of the leased item, and the valuation date.

STRATEC generally determines its IBR using the build-up approach and calculates this rate as the total of the following components:

(a) A term-specific, risk-free base rate based on the yields of government bonds (mostly based on an established currency with a reliable basis of data)
(b) Premiums for country risks in cases where the country is different to that of the base rate
(c) Premiums for the creditworthiness of the individual lessee (legal unit), for example based on rating-specific credit spreads
(d) Discounts for the collateral provided by way of the leased item.

In determining the term-specific base rate, STRATEC took due account of the fact that the yields on government bonds with congruent terms cannot simply be applied without further reflection. Due to the interest payments made during the term and repayment of the nominal amount at the end of the term, such bonds have different payment structures to typical leases, which involve constant payments each year of the term. To account for this, duration-adequate discount rates

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

were applied to derive the IBR. Significant estimation uncertainties still apply, particularly when determining the premiums and discounts for the degree of collateral, not least as relatively little reliable empirical data is available.

5. Measurement of stock appreciation rights granted as of their contractual commitment and determination of the resultant personnel expenses and the amount to be added to the capital reserve pursuant to IFRS 2 (Share-based Payment)

The calculation of the fair value of the options granted and to be distributed as personnel expenses over the vesting period requires forward-looking assessments. In particular, the selection of the option price model used in the calculation involves subjective management assessment. The management is convinced that the option price model used offers a suitable model for measuring the stock options granted at the STRATEC Group. The principal parameters subject to estimates (expected future volatility, dividend yield, personnel turnover) are presented in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET – Stock option programs".

6. Measurement of the stock appreciation rights (SARs) granted and determination of the resultant personnel expenses pursuant to IFRS 2 (Share-based Payment)

The stock appreciation rights (SARs) granted (carrying amount as of December 31: € 246k; previous year: € 335k) have been measured by an independent surveyor specializing in option valuations. This surveyor uses the binomial tree method to measure the SARs. The principal parameters subject to estimates (term, expected volatility, risk-free interest rate) have been presented in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (14) Other liabilities – Stock appreciation rights (SARs)".

7. Measurement of post-employment defined benefit plans pursuant to IAS 19 (Employee Benefits)

The defined benefit plans pursuant to IAS 19 (Employee Benefits) (carrying amount as of December 31: € 4,158k; previous year: € 5,338k) have been measured by an independent company specializing in employee benefits. These measurements are based on actuarial assumptions which, given the long-term nature of these plans, involve uncertainties. With regard to the significant assumptions used in this respect, reference is made to the information provided in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (10) Provisions for pensions".

8. Calculation of provision for guarantee and warranty obligations pursuant to IAS 37 (Provisions, Contingent Liabilities and Contingent Assets)

When calculating the provision for guarantee and warranty obligations (carrying amount as of December 31: € 577k; previous year: € 950k), STRATEC takes due account of historic values from the past, which are adapted on the basis of the implications of currently observable information and data, thus supplementing the implications of the historic values by reference to this current information and data. The insights gained in the financial year under report led to a change of € 373k (previous year: € 552k) in the provision for guarantee and warranty obligations. Actual expenses in future financial years may deviate from the estimated figures.

9. Recognition of deferred taxes for temporary differences and tax loss carryovers pursuant to IAS 12 (Income Taxes) and uncertainties in income tax treatment

In its assessment that the differences between the figures recognized for tax purposes and the figures recognized in the consolidated financial statements will reverse in subsequent financial years, pursuant to IAS 12 (Income Taxes) STRATEC is bound by the requirements of tax law valid or enacted as of the balance sheet date and expected to apply in the financial years in which the respective differences are reversed. Future legislative amendments or any

adjustments to the planning assumptions reached in connection with the gradual reduction in corporate income tax rates in Germany from the 2028 assessment period through to 2032 may therefore make it necessary to recognize an adjustment through profit or loss.

In its assessment that it will be possible to offset the deferred tax assets recognized for tax loss carryovers (carrying amount as of December 31: € 2,465k; previous year: € 2,576k) against future profits, STRATEC relies on sources including its short and medium-term budget forecasts. The actual materialization of future profits is based on discretionary estimates. The carrying amounts of the deferred tax assets and liabilities recognized and not recognized in the consolidated financial statements, as well as their materialization and changes in the financial year under report compared with the previous year have been explained in detail in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (11) Taxes on income".

STRATEC is subject to income taxation in Germany and in various countries outside Germany ("foreign jurisdictions"). The measurement of the tax position(s) in individual countries is subject to substantial discretionary decisions, particularly for cross-border items. In the normal course of business, there are numerous transactions and calculations for which the definitive tax assessment is uncertain. Alongside changes in tax legislation and ordinances, moreover, administrative practice, interpretations, and tax audits performed by the fiscal authorities in particular may have implications for income tax treatment uncertainties. STRATEC states provisions for tax-related uncertainties and bases these on estimates as to whether and, if so, to what extent, additional (income) taxes will be incurred. It adjusts these provisions to account for changes in facts and circumstances resulting, for example, from new information or the results of (current) tax audits. Taxes on income (current tax expenses and deferred tax expenses or income) and the balance sheet line items of income tax receivables (carrying amount as of December 31: € 4,407K; previous year: € 2,219k), income tax liabilities (carrying amount as of December 31: € 1,721k; previous year: € 7,970k), deferred tax assets (carrying amount as of December 31: € 2,162k; previous year: € 3,116k), and deferred tax liabilities (carrying amount as of December

31: € 16,854k; previous year: € 16,412K) represent the scope of these implications, changes in provisions, and corresponding follow-on effects which STRATEC deems appropriate when assessing the uncertainty surrounding the respective income tax treatments.

10. Determination of the amortization period and amortization method for internally generated intangible assets capitalized from proprietary development projects

For intangible assets with finite useful lives (carrying amount as of December 31: € 58,157k; previous year: € 62,889k), IAS 38.97 requires the amortizable amount to be allocated over the respective useful life. According to the definition provided in IAS 38.8, the useful life is the period over which the asset is expected to be of use to the entity. Pursuant to IAS 38.97, the method of amortization has to correspond to the expected pattern of use for the future economic benefits accruing to the company from the asset. According to IAS 38.98, various amortization methods may be used for the systematic allocation of the amortizable amount. Based on empirical data, product life cycles of the devices are currently assumed to range between 12 and 15 years.

There are no other significant forward-looking assumptions and sources of uncertainty concerning estimates at the balance sheet date which involve any substantial risk of material adjustments being required in the assets and liabilities thereby recognized within the coming financial year.

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

C. NOTES TO THE CONSOLIDATED BALANCE SHEET

(1) Goodwill and other intangible assets

Intangible assets changed as follows in the 2025 financial year:

	Internally generated intangible assets
	Goodwill € 000s	Acquired technologies € 000s	in development € 000s	in amortization € 000s	Acquired patents € 000s	Acquired trademarks € 000s	Acquired customer bases € 000s	Other rights and values € 000s	Advance payments € 000s	Total € 000s
Acquisition and manufacturing costs Balance at 01.01.2025	50,975	25,263	35,342	47,534	5,023	2,256	24,244	8,134	49	198,820
Additions	0	0	6,820	0	0	0	0	132	0	6.952
Disposals	0	0	0	-10,811	0	0	0	-100	0	-10.911
Reclassifications	0	0	-1,051	1,051	0	0	0	1,249	0	1.249
Currency differences	-1,122	-283	911	-208	0	153	219	-56	4	-382
Balance at 12.31.2025	49,853	24,980	42,022	37,566	5,023	2,409	24,463	9,359	53	195.728
	Internally generated intangible assets
---	---	---	---	---	---	---	---	---	---	---
	Goodwill € 000s	Acquired technologies € 000s	in development € 000s	in amortization € 000s	Acquired patents € 000s	Acquired trademarks € 000s	Acquired customer bases € 000s	Other rights and values € 000s	Advance payments € 000s	Total € 000s
Accumulated amortization and impairments Balance at 01.01.2025	0	16,046	0	33,372	2,832	1,974	23,481	7,252	0	84,957
Additions to amortization	0	961	0	3,227	333	233	336	246	0	5,336
Impairments	0	0	6,148	0	0	0	0	0	0	6,148
Disposals	0	0	0	-10,811	0	0	0	-100	0	-10,911
Reclassifications	0	0	0	0	0	0	0	1,249	0	1,249
Currency differences	0	456	219	-155	0	142	268	8	0	938
Balance at 12.31.2025	0	17,463	6,367	25,633	3,165	2,349	24,085	8,655	0	87,717
Carrying amount at 12.31.2025	49,853	7,517	35,655	11,933	1,858	60	378	704	53	108,011
---	---	---	---	---	---	---	---	---	---	---

The goodwill results from the acquisitions of the companies in the Diatron Group, the Natech Group, STRATEC Consumables GmbH, STRATEC Biomedical USA, Inc., STRATEC Biomedical UK, Ltd., and STRATEC Molecular GmbH..

The carrying amount of technologies includes the technologies relating to technical solutions for decentralized laboratory analyses in the field of hematology and clinical chemicals identified upon the acquisition of the Diatron Group, the technologies for smart consumables, particularly in the fields of nano-structuring, micro-structuring, coating, and plastics production, identified upon the acquisition of STRATEC Consumables, and the technologies for highly complex polymer-based consumables focusing on medical applications and the associated tool production for injection molds identified upon the acquisition of the Natech Group.

Internally generated intangible assets essentially involve the development of technologies and processes for application across platforms in various consumables or analyzer system families.

The carrying amount of € 704k for other rights and values (previous year: € 882k) includes software and licenses acquired, as well as the FDA certifications and prohibitions on competition identified upon the acquisition of the Natech Group.

As in the previous year, no borrowing costs were recognized as a component of costs in accordance with IAS 23 (Borrowing Costs) in the financial year under report.

In the consolidated statement of comprehensive income, amortization on internally generated intangible assets, technologies, and other rights and values has been recognized under cost of sales or within the individual functional divisions in line with its causation.

In the 2025 financial year, an impairment loss of € 6,148k was recognized on an internally generated intangible asset within the research and development expenses line item. This chiefly resulted from a delayed market launch and lower sales potential for a product family within the Diatron brand.

In the 2024 financial year, an impairment loss of € 332k was recognized through cost of sales on an internally generated intangible asset due to the premature substitution of a technology.

The individual intangible assets with a carrying amount of more than € 2.0 million as of the balance sheet date on December 31, 2025, and thus of material significance to STRATEC's consolidated financial statements, in addition to goodwill and the intangible assets acquired in connection with the acquisitions of the Diatron Group, STRATEC Consumables GmbH, and the Natech Group, include capitalized development expenses for platform projects used in molecular and immunodiagnostics, as well as modular components and software solutions for use in automation systems. Both STRATEC's innovative strength and its market position are based on proprietary intellectual property (IP and technology) developed in-house as part of the projects. This therefore constitutes a key competitive advantage.

Of intangible assets, € 38,873k are located in the country of origin of STRATEC SE (previous year: € 38,016k) and € 69,139k in third countries (previous year: € 75,848k). The third countries with a material volume of intangible assets are: Hungary (€ 29,808k; previous year: € 31,257k), the US (€ 24,728k; previous year: € 28,650k), and Austria (€ 12,667k; previous year: € 13,673k).

169

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Intangible assets developed as follows in the 2024 financial year:

	Internally generated intangible assets
	Goodwill € 000s	Acquired technologies € 000s	in development € 000s	in amortization € 000s	Acquired patents € 000s	Acquired trademarks € 000s	Acquired customer bases € 000s	Other rights and values € 000s	Advance payments € 000s	Total € 000s
Acquisition and manufacturing costs
Balance at 01.01.2024	51,158	25,539	31,198	44,389	5,023	2,425	24,829	8,075	53	192,689
Additions	0	0	7,969	0	0	0	0	339	0	8,308
Disposals	0	0	0	0	0	0	0	-283	0	-283
Reclassifications	0	0	-3,064	3,064	0	0	0	0	0	0
Currency differences	-183	-276	-761	81	0	-169	-585	3	-4	-1,894
Balance at 12.31.2024	50,975	25,263	35,342	47,534	5,023	2,256	24,244	8,134	49	198,820
	Internally generated intangible assets
---	---	---	---	---	---	---	---	---	---	---
	Goodwill € 000s	Acquired technologies € 000s	in development € 000s	in amortization € 000s	Acquired patents € 000s	Acquired trademarks € 000s	Acquired customer bases € 000s	Other rights and values € 000s	Advance payments € 000s	Total € 000s
Accumulated amortization and impairments
Balance at 01.01.2024	0	15,626	0	29,564	2,499	1,879	23,494	7,140	0	80,202
Additions to amortization	0	1,082	0	3,396	333	235	600	415	0	6,061
Impairments	0	0	0	332	0	0	0	0	0	332
Disposals	0	0	0	0	0	0	0	-266	0	-266
Currency differences	0	-662	0	80	0	-140	-613	-37	0	-1,372
Balance at 12.31.2024	0	16,046	0	33,372	2,832	1,974	23,481	7,252	0	84,957
Carrying amount at 12.31.2024	50,975	9,217	35,342	14,162	2,191	282	763	882	49	113,863

(2) Right-of-use assets

Right-of-use assets showed the following developments in the 2025 financial year:

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment
			Vehicles € 000s	Office equipment € 000s	Total € 000s
Cost of acquisition
Balance at 01.01.2025	25,604	185	1,132	0	26,921
Additions	344	47	410	0	801
Disposals	-60	0	-177	0	-237
Currency differences	-32	-23	12	0	-43
Balance at 12.31.2025	25,856	209	1,377	0	27,442
	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment
---	---	---	---	---	---
			Vehicles € 000s	Office equipment € 000s	Total € 000s
Accumulated depreciation
Balance at 01.01.2025	11,098	98	545	0	11,741
Additions	3,179	68	371	0	3,618
Disposals	-60	0	-161	0	-221
Currency differences	120	-14	7	0	113
Balance at 12.31.2025	14,337	152	762	0	15,251
Carrying amount at 12.31.2025	11,519	57	615	0	12,191

For information about the corresponding lease liabilities, please see Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (12) Non-current and current financial liabilities".

As in the previous year, no impairments were required in the 2025 financial year.

Of right-of-use assets, € 660k are located in the country of origin of STRATEC SE (previous year: € 666k) and € 11,531k in third countries (previous year: € 14,514k). The third countries with a material volume of right-of-use assets are: Hungary (€ 5,013k; previous year: € 5,638k), the US (€ 2,866k; previous year: € 3,888k), and Austria (€ 3,200k; previous year: € 4,437k).

171

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Right-of-use assets showed the following developments in the 2024 financial year:

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment
			Vehicles € 000s	Office equipment € 000s	Total € 000s
Cost of acquisition
Balance at 01.01.2024	24,019	286	1,122	121	25,548
Additions	2,039	0	249	0	2,288
Disposals	-106	-112	-226	-121	-565
Currency differences	-348	11	-13	0	-350
Balance at 12.31.2024	25,604	185	1,132	0	26,921
	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment
---	---	---	---	---	---
			Vehicles € 000s	Office equipment € 000s	Total € 000s
Accumulated depreciation
Balance at 01.01.2024	8,447	73	422	116	9,058
Additions	2,948	134	350	4	3,436
Disposals	-106	-112	-220	-120	-558
Currency differences	-191	3	-7	0	-195
Balance at 12.31.2024	11,098	98	545	0	11,741
Carrying amount at 12.31.2024	14,506	87	587	0	15,180
---	---	---	---	---	---

(3) Property, plant and equipment

Property, plant and equipment developed as follows in the 2025 financial year:

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment € 000s	Prepayments made and assets under construction € 000s	Total € 000s
Acquisition and manufacturing costs
Balance at 01.01.2025	46,309	24,132	52,184	12,381	135,006
Additions	41	2,969	3,372	2,896	9,278
Disposals	0	-81	-752	0	-833
Reclassifications	0	459	1,207	-1,666	0
Currency differences	227	-516	203	-13	-99
Balance at 12.31.2025	46,577	26,963	56,214	13,598	143,352

173

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment € 000s	Prepayments made and assets under construction € 000s	Total € 000s
Accumulated depreciation and impairments
Balance at 01.01.2025	12,963	16,782	40,196	0	69,941
Additions to depreciation	1,806	3,059	4,774	0	9,639
Disposals	0	-80	-746	0	-826
Currency differences	96	-210	260	0	146
Balance at 12.31.2025	14,865	19,551	44,484	0	78,900
Carrying amount at 12.31.2025	31,712	7,412	11,730	13,598	64,452

As in the previous year, no borrowing costs were capitalized as a component of cost in accordance with IAS 23 (Borrowing Costs) in the 2025 financial year.

As in the previous year, it was not necessary to recognize any impairment losses in the 2025 financial year.

Of property, plant and equipment, € 41,290k is located in the country of origin of STRATEC SE (previous year: € 41,698k) and € 23,162k in third countries (previous year: € 23,367k). The third countries with a material volume of property, plant and equipment are: Switzerland (€ 6,926k; previous year: € 7,332k), the US (€ 3,871k; previous year: € 4,565K), and Austria (€ 6,037k; previous year: € 5,256k).

Property, plant and equipment developed as follows in the 2024 financial year:

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment € 000s	Prepayments made and assets under construction € 000s	Total € 000s
Acquisition and manufacturing costs
Balance at 01.01.2024	45,382	22,933	50,016	11,023	129,354
Additions	10	1,071	978	7,822	9,881
Disposals	0	-404	-819	-2,530	-3,753
Reclassifications	1,255	353	2,284	-3,892	0
Currency differences	-338	179	-275	-42	-476
Balance at 12.31.2024	46,309	24,132	52,184	12,381	135,006

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

	Land and buildings € 000s	Technical equipment and machinery € 000s	Other equipment, plant and office equipment € 000s	Prepayments made and assets under construction € 000s	Total € 000s
Accumulated depreciation and impairments
Balance at 01.01.2024	11,457	14,098	36,286	0	61,841
Additions to depreciation	1,590	3,074	4,943	0	9,607
Disposals	0	-404	-736	0	-1,140
Reclassifications	27	0	-27	0	0
Currency differences	-111	14	-270	0	-367
Balance at 12.31.2024	12,963	16,782	40,196	0	69,941
Carrying amount at 12.31.2024	33,346	7,350	11,988	12,381	65,065

(4) Inventories

Inventories are structured as follows:

	12.31.2025 € 000s	12.31.2024 € 000s
Raw materials and supplies	92,480	95,858
Unfinished products and services	7,461	8,569
Finished products	8,816	11,230
Merchandise	743	1,967
Advance payments	3,685	4,194
Total	113,185	121,818

In the 2025 financial year, income of € 9k (previous year: € 197k) and expenses of € 4,165k (previous year: € 444k) were recognized through profit or loss under cost of sales for changes in impairments on raw materials and supplies. The income in the 2025 financial year and the previous year was attributable to changes in the volume of impaired material inventories.

In the 2025 financial year, income of € 0k (previous year: € 39k) and expenses of € 367k (previous year: € 36k) were recognized through profit or loss under cost of sales for changes in impairments on unfinished products. The income in the 2025 financial year and the previous year was attributable to changes in the volume of impaired material inventories.

In the 2025 financial year, income of € 81k (previous year: € 14k) and expenses of € 572k (previous year: € 168k) were recognized through profit or loss under cost of sales for changes in impairments on finished products. The income in the 2025 financial year and the previous year was attributable to changes in the volume of impaired material inventories.

The predominant share of the items recognized within inventories is expected to be realized within twelve months of the balance sheet date.

(5) Contract assets

The contract assets of € 29,618k (previous year: € 22,068k) involve STRATEC's claims to consideration work that is not yet complete as of the balance sheet date. Contract assets are reclassified as trade receivables when such claims become unconditional.

Contract assets increased by € 7,550k in the 2025 financial year (previous year: reduction of € 3,534k).

The addition to contract assets in the 2025 financial year resulted from the satisfaction over time of development performance obligations in the context of development cooperations. This development was countered by the receipt of milestone payments for development cooperations and the reduction in contract assets due to the fulfilment of minimum purchase commitments underlying transaction price allocations.

The change in contract assets in the 2024 financial year resulted from the receipt of milestone payments for development cooperations, the reduction in contract assets due to the delivery of minimum purchase obligations underlying transaction price allocations, and remeasurements of contract assets due to new assessments of their percentage of completion. These developments were countered by the addition of contract assets for the satisfaction over time of development performance obligations in the context of development cooperations.

(6) Trade receivables

Of trade receivables (€ 56,933k; previous year: € 41,578k), an amount of € 56,933k (previous year: € 41,578k) is due for payment within one year. Customer credit balances of € 0k have been recognized under financial liabilities (previous year: € 83k).

The allowances schedule for trade receivables and contract assets developed as follows:

	2025 € 000s	2024 € 000s
Accumulated allowances at 01.01.	2,927	1,705
Expenses in period under report	644	1,470
Reversal	-409	-268
Currency differences	4	20
Accumulated allowances at 12.31.	3,166	2,927

Of the accumulated allowances recognized as of December 31, 2025, € 151k relate to contract assets (previous year: € 34k).

As in the previous year, no expenses were recognized through profit or loss in the 2025 financial year for the complete write-down of trade receivables.

All expenses and income from changes on loss allowances and the derecognition of trade receivables and contract assets are presented separately in the consolidated statement of comprehensive income under the line item "Income or expenses from impairments on financial assets and contract assets".

The gross carrying amounts of trade receivables by maturity bands and the recognized loss allowance for expected credit losses are as follows:

€ 000s	Gross amount	of which: not overdue at balance sheet date	of which: overdue at balance sheet date within following time bands
			up to 30 days	between 30 and 90 days	more than 90 days
12.31.2025	59,948	48,018	7,103	1,721	3,106
Expected credit loss		266		262	2,487
12.31.2024	44,471	33,608	4,516	2,786	3,561
Expected credit loss		231		519	2,143

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

STRATEC calculates expected credit losses in the subsequent measurement of trade receivables using a differentiated approach that considers the debtor's creditworthiness, the number of days past due, and trade credit insurance policies concluded to mitigate default risk.

(7) Financial assets

Financial assets are structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Investments in listed companies | 503 | 731 |
| Investments in unlisted companies | 580 | 0 |
| Other | 4,347 | 4,304 |
| Total | 5,430 | 5,035 |

Investments of € 580k in unlisted companies (previous year: € 0k) and other financial assets of € 3,505k (previous year: € 3,472k) have been recognized under non-current financial assets.

Investments in listed companies

The shares held in listed companies have been measured at their closing prices at the balance sheet date on the stock market with the highest trading volumes.

As in the previous year, STRATEC neither acquired nor disposed of any shares in listed companies in the 2025 financial year.

The net expenses of € 227k (previous year: net income of € 48k) resulting from the measurement of investments in listed companies as of the balance sheet date have been recognized through profit or loss in the "Other financial result" in the consolidated statement of comprehensive income.

Investments in unlisted companies

Investments in unlisted companies include the 9.70% shareholding in FLUIDIC SCIENCES LIMITED, Roysten (Hertfordshire/UK), a company registered in England and Wales. This shareholding was acquired on September 12, 2025. The costs of acquiring the shareholding amounted to GBP 0.5 million for 144,094 shares in the

"B ordinary share" class without voting rights. This investment was classified as an equity instrument and, pursuant to IFRS 9 (Financial Instruments), measured at fair value through other comprehensive income (FVOCI). This classification was due to the investment being held for strategic rather than trading purposes. Dividends are recognized in the income statement as soon as the respective claim to payment is certain. Measurement is performed in accordance with IFRS 13 (Fair Value Measurement). As there is no active market for the shares, their fair value measurement is based on non-observable input factors (Level 3 in the fair value measurement hierarchy). No changes in the fair value were recognized in other comprehensive income in the 2025 financial year. This was due the company's planning remaining unchanged between the acquisition and balance sheet dates and to the achievement of its budgets for the 2025 financial year. As a result, the acquisition costs for the shareholding represent the best estimate of the fair value.

Other

The "Other" line item mainly includes payments of € 3,000k (previous year: € 3,000k) received as security for trade receivables. These payments received are subject to contractually agreed restrictions on disposal, as a result of which STRATEC may only access the funds if certain conditions materialize. Corresponding liabilities of the same amount have been recognized under non-current financial liabilities. Furthermore, this line item includes claims of € 562k for rental deposits (previous year: € 530k), assets of € 425k to cover part-time early-retirement agreements (previous year: € 510k), receivables of € 14k due from employees (previous year: € 58k), loans of € 5k (previous year: € 10k), and creditors with debit balances of € 64k (previous year: € 46k).

177

(8) Other receivables and assets

Other receivables and assets are structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Sales tax | 3,483 | 5,081 |
| Prepaid expenses | 2,352 | 2,477 |
| Other | 706 | 393 |
| Total | 6,541 | 7,951 |

Prepaid expenses mainly include advance payments for services. Of these, an amount of € 294k (previous year: € 0k) has been recognized under non-current other receivables and assets.

(9) Shareholders' equity

The individual components of shareholders' equity, their development in 2024 and 2025, and dividends paid have been presented in the consolidated statement of changes in equity.

Share capital

The share capital of STRATEC SE amounted to € 12,158k at the balance sheet date (previous year: € 12,158k). The share capital is divided into 12,157,841 ordinary shares (previous year: 12,157,841 ordinary shares). The shares have been paid up in full and are registered shares. Each share entitles its holder to one voting right.

Authorized capital

Pursuant to § 4 (4.5) of the Articles of Association, the Board of Management is authorized, subject to approval by the Supervisory Board, to increase the company's share capital on one or more occasions prior to June 26, 2030 by a maximum amount of up to € 2,400,000.00 by issuing up to a maximum of 2,400,000 new shares in return for cash and/or non-cash contributions (Authorized Capital 2025/I). In general, shareholders must be granted subscription rights. In specific circumstances outlined in the Articles of Association, however, the Board of Management is entitled to

exclude such subscription rights for a total amount of up to 10% of existing share capital upon this authorization becoming effective or, if lower, of the equivalent amount upon this authorization being drawn on. Authorized Capital amounted to € 2,400,000.00 as of December 31, 2025.

Conditional capitals

§ 4 (4.6) Paragraph 1 of the Articles of Association provides for Conditional Capital VIII/2018. This conditional capital increase serves to grant subscription rights (stock options) up to May 29, 2023 on the basis of the resolution adopted by the Annual General Meeting on May 30, 2018. The conditional capital increase is only executed to the extent that bearers of stock options exercise their subscription rights. The new shares have profit entitlement from the beginning of the financial year in which they are issued. Conditional Capital VIII/2018 (as per Articles of Association: € 220,000.00) amounted to € 142,432.00 as of December 31, 2025.

§ 4 (4.6) Paragraph 2 of the Articles of Association provides for Conditional Capital X/2023. This conditional capital increase serves to grant subscription rights (stock option rights) up to May 16, 2028 on the

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

basis of the resolution adopted by the Annual General Meeting on May 17, 2023. The conditional capital increase is only executed to the extent that bearers of stock options exercise their subscription rights. The new shares have profit entitlement from the beginning of the financial year in which they are issued. Conditional Capital X/2023 amounted to up to € 750,000.00 as of December 31, 2025.

Furthermore, § 4 (4.7) of the Articles of Association provides for Conditional Capital XI/2025 of up to € 800,000.00. This conditional capital increase serves exclusively to grant up to 800,000 new shares to the bearers or creditors of convertible or warrant bonds issued by the company or by direct or indirect majority shareholdings of the company by June 26, 2030 on the basis of the resolution adopted by the Annual General Meeting on June 27, 2025. Conditional Capital XI/2025 amounted to up to € 800,000.00 as of December 31, 2025.

Total conditional capital amounted to € 1,692,432.00 as of December 31, 2025 (previous year: € 1,714,436.00).

Stock option programs

The company had two (previous year: three) stock option programs (equity-settled share-based payment) as of December 31, 2025. These programs are especially well suited to provide a sustainable performance incentive for members of the Board of Management, employees of STRATEC SE, and for members of the management and employees of companies associated with STRATEC SE. They thus help increase the value of the company in the interests both of the company and of its shareholders.

The following specific conditions apply in respect of qualifying periods, performance targets, lapsing, caps, and exercise windows:

The stock options granted may be exercised in full at the earliest following the expiry of a qualifying period of four years and provided that the following market conditions are fully met:

Increase in STRATEC's share price by at least 20% compared with the exercise price between the date of the option rights being granted and the date marking the expiry of the qualifying period.
If this performance target is not met after expiry of the four-year waiting period, the stock options granted may be exercised through to the end of their terms if, on the day preceding the respective exercise date, the closing price of STRATEC's share on the final trading day on the electronic trading system of the Frankfurt Stock Exchange (XETRA) has risen by an average of 0.417% of the exercise price per completed calendar month since the date of the stock options being granted.

Following the expiry of a seven-year term after being granted, the option rights lapse without compensation.

Where stock options are granted to members of the Board of Management, moreover, a cap is in place to the extent that the increase in the share price is limited to 200% of the original exercise price.

If the qualifying period and performance target requirements have been met, the stock option rights may in each case only be exercised on the ten trading days on the electronic trading system of the Frankfurt Stock Exchange (XETRA) subsequent to the holding of the Annual General Meeting, or the publication of the definitive 6-month results, should such publication occur after the Annual General Meeting for the respective preceding financial year, or of the 9-month results (exercise windows). In these cases, the stock option rights may be exercised independently of each other in several of the aforementioned exercise windows.

The individual stock option programs, the calculations using Monte Carlo simulations, and the calculation of the related personnel expenses in the individual periods (taking due account of personnel turnover) have mainly been based on the following key parameters (with expected volatility derived from term-congruent historic volatility figures for STRATEC shares):

Granted in:	2025	2024	2023	2022	2021	2020	2019
Option rights granted (number of shares)	31,800	33,700	35,650	45,132	43,850	43,100	47,350
Weighted exercise price (in €)	28.89	38.62	48.40	101.59	119.66	76.81	59.76
Expected share price volatility in %	41.91 to 43.43	41.83 to 43.48	40.44 to 41.15	39.79 to 40.83	39.29 to 40.40	35.63 to 38.39	35.78 to 36.20
Expected dividend yield in %	1.55 to 2.16	1.26 to 2.29	1.13 to 2.25	0.69 to 1.07	0.60 to 0.78	0.66 to 1.28	1.11 to 1.54
Risk-free interest rate in %	2.23 to 2.89	2.02 to 2.31	2.23 to 2.78	-0.25 to 2.03	-0.68 to -0.44	-0.77 to -0.51	-0.70 to -0.07
Assumed turnover of subscription beneficiaries in %	8.00	7.00	7.00	0.50 to 7.00	0.50 to 5.00	0.50 to 5.00	0.50 to 5.00
Fair value of option rights at grant date (in € 000s)	282	455	575	1,398	1,608	1,016	731

Within the Monte Carlo simulation, the aforementioned market conditions and cap were accounted for as appropriate in the fair value calculation for the option rights.

The weighted average fair value of the option rights granted in the 2025 financial year amounts to € 8.87 (previous year: € 13.49).

The weighted average share price has been accounted for at € 28.93 in the fair value calculation of the option rights granted in the 2025 financial year (previous year: € 36.45).

In respect of the exercise behavior shown by the program participants, it has been assumed that they will exercise their options in line with their economic interests, i.e. at the earliest possible time.

The following options schedule provides an overview of the development in stock option rights in the 2024 to 2025 financial years:

Stock option rights	Board of Management		Employees		Total
	No. of options	Weighted exercise price in €	No. of options	Weighted exercise price in €	No. of options	Weighted exercise price in €
Outstanding on 12.31.2024	29,557	87.24	196,729	72.57	226,286	74.49
of which exercisable	0	n/a	0	n/a	0	n/a
Granted	0	0.00	31,800	28.89	31,800	28.89
Exercised	0	0.00	0	0.00	0	0.00
Lapsed	0	0.00	9,504	61.77	9,504	61.77
Forfeited	0	0.00	28,500	66.23	28,500	66.23
Outstanding on 12.31.2025	29,557	87.24	190,525	66.77	220,082	69.52
of which exercisable	0	n/a	0	n/a	0	n/a

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Stock option rights	Board of Management		Employees		Total
	No. of options	Weighted exercise price in €	No. of options	Weighted exercise price in €	No. of options	Weighted exercise price in €
Outstanding on 12.31.2023	39,557	87.35	169,029	79.78	208,586	81.21
of which exercisable	0	n/a	0	n/a	0	n/a
Granted	0	0.00	33,700	38.62	33,700	38.62
Exercised	0	0.00	0	0.00	0	0.00
Lapsed	0	0.00	0	0.00	0	0.00
Forfeited	10,000	87.69	6,000	84.80	16,000	86.60
Outstanding on 12.31.2024	29,557	87.24	196,729	72.57	226,286	74.49
of which exercisable	0	n/a	0	n/a	0	n/a

Stock option rights granted to individual members of the Board of Management prior to their appointment to the Board of Management have not been reclassified and therefore continue to be recognized in the disclosures on employee stock option rights.

The fair value of the stock option rights has been expensed on a straight-line basis over the agreed waiting periods and has resulted in an endowment of the same amount in the capital reserve. This led to expenses of € 367k for equity-settled share-based payments in the 2025 financial year (previous year: € 858k).

As in the previous year, due to the necessary market conditions and/or the minimum qualifying periods not have been fulfilled, no stock option rights were exercisable as of December 31, 2025.

As in the previous year, no stock options were exercised in the 2025 financial year.

The weighted exercise prices and weighted average remaining contractual terms of the stock options outstanding at the end of the period under report have been presented in the following table:

2025

Range in €	Number of stock options	Weighted exercise price in €	Weighted remaining contractual term in months
20.01 – 25.00	1,800	24.41	83.2
25.01 – 30.00	22,000	28.36	76.2
30.01 – 35.00	3,000	34.45	74.1
35.01 – 40.00	40,250	38.40	64.8
40.01 – 45.00	9,600	42.90	63.7
50.01 – 55.00	1,000	50.82	55.7
55.01 – 60.00	24,500	56.04	4.7
60.01 – 65.00	27,750	62.37	13.2
65.01 – 70.00	11,350	68.40	10.6
70.01 – 75.00	0	0.00	0.0
80.01 – 85.00	3,800	80.84	38.4
85.01 – 90.00	12,525	85.57	47.3
100.01 – 105.00	9,500	105.00	38.1
110.01 – 115.00	27,500	113.00	26.6
115.01 – 120.00	9,557	117.25	37.4
120.01 – 125.00	2,800	120.48	21.3
125.01 – 130.00	8,850	125.90	25.8
130.01 – 135.00	2,800	134.08	34.5
135.01 – 140.00	1,500	138.84	24.4
Total	220,082	69.52	38.8

2024

Range in €	Number of stock options	Weighted exercise price in €	Weighted remaining contractual term in months
35.01 – 40.00	48,250	38.40	77.0
40.01 – 45.00	11,600	42.69	76.1
50.01 – 55.00	2,000	50.82	67.9
55.01 – 60.00	29,704	56.19	15.6
60.01 – 65.00	28,750	62.42	26.7
65.01 – 70.00	14,150	67.89	20.0
70.01 – 75.00	1,500	71.18	1.0
80.01 – 85.00	3,800	80.84	50.6
85.01 – 90.00	16,275	85.57	59.4
100.01 – 105.00	13,500	105.00	50.3
110.01 – 115.00	27,500	113.00	38.8
115.01 – 120.00	10,057	117.25	49.6
120.01 – 125.00	2,800	120.48	33.4
125.01 – 130.00	8,850	125.90	38.0
130.01 – 135.00	6,050	134.08	46.7
135.01 – 140.00	1,500	138.84	37.5
Total	226,286	74.49	46.1

Capital reserve

The capital reserve of € 37,498k (previous year: € 37,131k) mainly includes the premium from the issuing of shares, less the costs of equity procurement after taxes. Moreover, the capital reserve also includes the benefit from the granting of stock options recognized as expenses, as well as the differential amount from the buyback and reissue of treasury stock.

Revenue reserves

Revenue reserves include accumulated net income generated in the past, to the extent that this has not been distributed, transfers from other equity, as well as free revenue reserves. The free revenue reserves arose due to allocations made in the context of the statutory authorization of the Board of Management and Supervisory Board of STRATEC SE to determine the appropriation of profit pursuant to § 58 (2) of the German Stock Corporation Act (AktG).

Revenue reserves are thus structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Free revenue reserves | 19,392 | 19,392 |
| Accumulated net income | 170,340 | 177,875 |
| Total | 189,732 | 197,267 |

Accumulated net income developed as follows in the year under report:

	€ 000s
Accumulated net income at 12.31.2024	177,875
Consolidated net income in 2025	-242
Distribution (dividend for 2024)	-7,293
Accumulated net income at 12.31.2025	170,340

181

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Other equity

The other equity of € -2,035k (previous year: € -3,988k) includes the currency translation reserve, accumulated actuarial gains and losses from the remeasurement of pensions, and the resultant deferred taxes.

The currency translation reserve of € -1,396k reported as of the balance sheet date (previous year: € -2,466k) mainly relates to currency differences arising upon the translation of the separate financial statements of companies with functional currencies other than the euro, as well as to the translation of group-internal net investments within equity as of the balance sheet date. The change is recognized in the "Currency translation differences from the translation of foreign operations" line item in the consolidated statement of comprehensive income.

The amounts recognized in other comprehensive income (OCI) within equity are structured as follows:

	Balance at 01.01.2025 € 000s	OCI € 000s	Balance at 12.31.2025 € 000s
Pensions	-1,873	1,017	-856
Deferred taxes	352	-135	217
Currency reserve	-2,416	903	-1,513
Deferred taxes	-51	168	117
Total	-3,988	1,953	-2,035
	Balance at 01.01.2024 € 000s	OCI € 000s	Balance at 12.31.2024 € 000s
---	---	---	---
Pensions	-1,094	-779	-1,873
Deferred taxes	213	139	352
Currency reserve	1,725	-4,141	-2,416
Deferred taxes	-14	-37	-51
Total	830	-4,818	-3,988

Treasury stocks

By resolution of the Annual General Meeting held on June 27, 2025, STRATEC SE was authorized until June 26, 2030 to acquire treasury stocks on one or several occasions and in total or in partial amounts up to a total of ten percent of existing share capital as of June 27, 2025 and to use these for every purpose permitted within the statutory limitation and consistent with the respective conditions. The authorization may not be drawn on to trade in treasury stocks. Together with the treasury stocks already acquired on the basis of previous authorizations and still possessed by the company, the treasury stocks acquired on the basis of this authorization may not at any time account for more than ten percent of the respective share capital. The treasury stocks may be acquired on the stock market, by way of a public offer, by way of a public request to submit sales offers, or by issuing pre-emptive rights to shareholders.

As in the previous year, STRATEC SE made no use of this authorization to acquire treasury stocks in the 2025 financial year. The company currently has no plans to retire the shares already acquired, but rather intends to retain the financial scope to make acquisitions and safeguard its growth strategy. Furthermore, STRATEC SE reserves the right to use the treasury stocks already acquired for other purposes consistent with the authorization provided by the Annual General Meeting.

As in the previous year, STRATEC SE held 1,899 treasury stocks at the balance sheet date. The treasury stocks have been recognized at cost at a total amount of € 35k (previous year: € 35k) as a separate line item within equity.

183

Appropriation of earnings

The German Stock Corporation Act (AktG) requires the dividends to be distributed to shareholders to be calculated on the basis of the net income reported in the annual financial statements of STRATEC SE prepared in line with the German Commercial Code (HGB).

In the 2025 financial year, a dividend of € 0.60 (previous year: € 0.55) was paid per share with dividend entitlement for the 2024 financial year, corresponding to a total distribution of € 7,294k (previous year: € 6,687k).

With the approval of the Supervisory Board, the Board of Management proposes that, of the net income of € 58,093k calculated for STRATEC SE in line with the German Commercial Code, an amount of € 7,293,565.20, equivalent to € 0.60 per share with dividend entitlement, should be distributed, and that the remaining amount of € 50,799k should be carried forward. The proposed dividend is dependent on approval by the Annual General Meeting and has not been recognized as a liability in the consolidated financial statements.

As in the previous year, upon preparing the annual financial statements of STRATEC SE in line with the German Commercial Code (HGB) as of December 31, 2025, the Board of Management and Supervisory Board did not allocate any amount from the net income for 2025 to the free revenue reserves.

(10) Provisions for pensions

The company pension scheme can basically be divided into defined contribution plans and defined benefit plans.

In defined contribution plans, STRATEC does not enter into any legal or constructive obligations over and above its obligation to pay contributions to an external state or private pension provider. These contributions are recognized within personnel expenses upon becoming due for payment. The related expenses totaled € 5,460k in the 2025 financial year (previous year: € 5,454k). This amount includes employer contributions of € 3,034k to the statutory pension insurance scheme in Germany (previous year: € 2,959k) and contributions of € 1,865k for severance-related benefits in Austria (previous year: € 1,814k). The remaining contributions chiefly relate to pension plans in Switzerland.

Furthermore, as of the balance sheet date there are also defined benefit plans in place for individual members of the Board of Management in Germany and for employees in Austria and Switzerland. Pension obligations in Germany are financed and guaranteed partly through reinsurance policies and partly through a reinsured support fund (Unterstützungskasse). The pension plans in Switzerland are executed in accordance with legal requirements on the basis of an external pension fund. In connection with defined benefit plans, STRATEC is exposed not only to general actuarial risks, such as interest rate risk, pension and income growth risks, and risks resulting from rising life expectancy, as well as to capital market risks resulting from the investment of plan assets.

The pension obligation is offset against the corresponding plan assets in the consolidated balance sheet.

The present value of pension obligations is calculated using the actuarial procedure known as the projected unit credit method. In this, future obligations are measured on the basis of the prorated vested claims attained by the end of the financial year, taking due account of assumed trends.

The calculation of the present value of pension obligations has been based on the following actuarial assumptions:

	Germany 12.31.2025	Austria 12.31.2025	Switzerland 12.31.2025
Discount rate	4.14%	3.72%	1.30%
Future income increases	n.a.	3.33%	2.00%
Future pension increases	1.41%	n.a.	n.a.
Personnel turnover rate	1.50%	0.00%	a)
Average duration	14.8 years	9.3 years	16.2 years
	Germany 12.31.2024	Austria 12.31.2024	Switzerland 12.31.2024
---	---	---	---
Discount rate	3.39%	3.17%	1.00%
Future income increases	n.a.	3.00%	2.00%
Future pension increases	1.40%	n.a.	n.a.
Personnel turnover rate	1.50%	0.00%	a)
Average duration	16.3 years	9.4 years	17.0 years

Personnel turnover rate graded for men, women, and age groups. Pursuant to the Swiss Federal Act on Retirement, Dependant Care, and Invalidity Pensions (BVG), the turnover rate for men ranges, as in the previous year, from 1.66% to 31.00%; the rate for women ranges, as in the previous year, from 2.15% to 27.58%.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

As in the previous year, the main life expectancy assumptions for Germany have been taken from the biometric "2018 G Guidelines" published by Prof. Dr. Klaus Heubeck. For Austria, also as in the previous year, these assumptions have been based on the "AVÖ 2018-P Pagler & Pagler Generationentafel". For Switzerland, also as in the previous year, they have been based on the "BVG 2020 Generationstafel".

The assumptions stated for the calculation of the present value of pension obligations as of the previous year's balance sheet date also apply for the calculation of interest expenses and current service cost in the following financial year.

The present value of the vested defined benefit obligation (DBO) and plan assets changed as follows in the financial year under report:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Present value of defined benefit obligations (DBO) as of 01.01. | 17,614 | 17,332 |
| Transfers due to change of employer | -1,796 | -1,447 |
| Current service cost | 1,007 | 994 |
| Retrospective service cost | 0 | 151 |
| Compounding of pension obligations | 286 | 325 |
| Payments made | -286 | 0 |
| Employee contributions to pension plan | 409 | 567 |
| Remeasurement of pension obligations Actuarial gains (-) / losses (+) due to changes in | | |
| • financial assumptions | -941 | 757 |
| • demographic assumptions | 0 | 0 |
| • experience adjustments | -756 | -855 |
| Currency differences | 122 | -210 |
| Present value of defined benefit obligations (DBO) as of 12.31. | 15,659 | 17,614 |

To calculate the financing status and the net obligation, the present value of the externally financed obligations is compared with the fair value of the plan assets.

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Pension plans in Germany | | |
| • Present value of pension obligations | 3,139 | 3,234 |
| • Fair value of plan assetss | 2,778 | 2,729 |
| Financing status = net obligation | 361 | 505 |
| Pension plans in Austria | | |
| • Present value of pension obligations | 1,543 | 1,685 |
| • Fair value of plan assetss | 0 | 0 |
| Financing status = net obligation | 1,543 | 1,685 |
| Pension plans in Switzerland | | |
| • Present value of pension obligations | 10,977 | 12,695 |
| • Fair value of plan assetss | 8,723 | 9,547 |
| Financing status = net obligation | 2,254 | 3,148 |
| Total | | |
| • Present value of pension obligations | 15,659 | 17,614 |
| • Fair value of plan assetss | 11,501 | 12,276 |
| Financing status = net obligation | 4,158 | 5,338 |

The net obligation developed as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Net obligation at 01.01. | 5,338 | 4,317 |
| Share of pension expenses recognized in income statement | 1,108 | 1,240 |
| Amounts recognized in OCI | -1,015 | 779 |
| Payments made | -286 | 0 |
| Employer contributions to plan assets | -1,014 | -968 |
| Currency differences | 27 | -30 |
| Net obligation at 12.31. | 4,158 | 5,338 |
| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Fair value of plan assets as of 01.01. | 12,276 | 13,015 |
| Transfers due to change of employer | -1,796 | -1,447 |
| Employer contributions to plan assets | 1,014 | 968 |
| Employee contributions to plan assets | 409 | 567 |
| Interest income on plan assets | 185 | 230 |
| Remeasurement of plan assets
• Expenses for plan assets (excluding interest income | -682 | -877 |
| Currency differences | 95 | -180 |
| Fair value of plan assets as of 12.31. | 11,501 | 12,276 |

The pension expenses recognized through profit or loss in the income statement for defined benefit commitments in the period under report comprise the following items:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Current service cost | 1,007 | 994 |
| Retrospective service cost | 0 | 151 |
| Compounding of pension obligations | 286 | 325 |
| Interest income on plan assets | -185 | -230 |
| Share of pension expenses
recognized in income statement | 1,108 | 1,240 |

Current and retrospective service cost is included in the individual functional areas, while other components of the share of pension expenses recognized in the consolidated statement of comprehensive income are included in the financial income or financial expense line items within net financial expenses.

The following amounts have been recognized in equity under "Other comprehensive income" in the consolidated statement of comprehensive income:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Remeasurement of net obligation: | | |
| Income from plan assets
(excluding interest income) | 682 | 877 |
| Actuarial gains (-) / losses (+)
due to changes in
• financial assumptions | -941 | 757 |
| • demographic assumptions | 0 | 0 |
| • experience adjustments | -756 | -855 |
| Amounts recognized in OCI | -1,015 | 779 |

The plan assets relate to pension plans in Germany and Switzerland. In Germany, these reinsurance policies predominantly invest in fixed-income securities. When selecting such securities, the rating and equity resources of the issuer are accounted for, among other factors. The investment strategy predominantly aims to generate ongoing interest income and to ensure capital preservation with a low degree of volatility. No prices listed on an "active market" are available for the reinsurance policies. The Swiss companies are affiliated to the comprehensive insurance contract for the BVG collective foundation ("Sammelstiftung") at Allianz Suisse, while a reinsurance contract is in place between the Sammelstiftung and the life insurer Allianz Suisse Lebensversicherungs-Gesellschaft.

Depending on the specific country, the key actuarial assumptions used to calculate the pension obligations at STRATEC include the parameters presented in the sensitivity analyses below, namely the discount rate, life expectancy, and future income increases. The sensitivity analyses show how the defined benefit obligation would have been influenced by potential changes in the corresponding assumptions if all other assumptions had remained unchanged.

In Germany, any variation in the respective parameters by 50 basis points or one year of life would result in the following sensitivities in the present value of the defined benefit obligation:

| Germany | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Discount rate +0.50% | -212 | -241 |
| Discount rate -0.50% | 235 | 269 |
| Life expectancy +1.00 | 60 | 72 |
| Life expectancy -1.00 | -60 | -71 |

In Austria, any variation in the respective parameters by 50 basis points would result in the following sensitivities in the present value of the defined benefit obligation:

| Austria | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Discount rate +0.50% | -67 | -75 |
| Discount rate -0.50% | 72 | 80 |
| Future income increases +0.50% | 71 | 79 |
| Future income increases -0.50% | -67 | -75 |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

In Switzerland, any variation in the respective parameters by 25 basis points would result in the following sensitivities in the present value of the defined benefit obligation:

Switzerland	2025 € 000s	2024 € 000s
Discount rate +0.25%	-422	-513
Discount rate -0.25%	455	554
Future income increases +0.25%	98	119
Future income increases -0.25%	-98	-116
Life expectancy +1.00	136	167
Life expectancy -1.00	-135	-165

Plan asset endowments by STRATEC of € 1,389k (previous year: € 1,418k) are expected for the following 2026 financial year (previous year: € 1,418k). No outgoing payments from plan assets are expected.

(II) Taxes on income

Taxes on income comprise the income taxes paid or owed and deferred taxes in the individual countries. Interest on tax-related back payments and reimbursements are recognized under other liabilities or receivables and under net financial expenses.

Income tax expenses can be broken down in terms of their origin as follows:

	2025 € 000s	2024 € 000s
Current tax expenses	3,972	3,847
Deferred tax expenses	1,117	2,140
Total	5,089	5,987

Of the deferred tax expenses of € 1,117k recognized in the consolidated statement of comprehensive income (previous year: € 2,140k), € 1,006k resulted from expenses due to temporary valuation differences (previous year: € 2,009k) and € 111k related to expenses due to the recognition through profit or loss of changes in deferred tax assets on tax loss carryovers (previous year: expenses of € 131k).

The changes in the deferred tax assets on tax loss carryovers are structured as follows:

	2025 € 000s	2024 € 000s
Income from recognition	0	-139
Income due to adjustments	0	-24
Income due to changes in tax rates	0	-25
Expenses due to utilization	19	1.042
Expenses due to write-downs	452	0
Income due to write-ups	-360	-723
Expenses due to changes	111	131
Currency translation	0	3
Total	111	134

Deferred tax assets of € 2,465k were recognized on tax loss carryovers at one subsidiary (previous year: two subsidiaries) in the 2025 financial year (previous year: € 2,576k). In the 2025 financial year, deferred tax assets for tax loss carryovers were written up by € 360k (previous year: € 723k). As in the previous year, these related to STRATEC Consumables GmbH. Given the existence of deferred tax liabilities and based to a certain extent on a tax forecast, the deferred tax assets still recognized at STRATEC Consumables GmbH

are deemed to have retained their value. Write-downs of € 452k were recognized on deferred tax assets for tax loss carryovers in the 2025 financial year. These related to Natech Plastics, Inc. Given the existence of deferred tax liabilities, the deferred tax assets still recognized at Natech Plastics, Inc. are deemed to have retained their value. The nominal amount of loss carryovers for which no deferred tax assets were recognized amounts to € 16,375k (previous year: € 12,521k). The unused tax loss carryovers for which no deferred tax assets have been recognized in the consolidated balance sheet relate to STRATEC Biomedical USA, Inc., RE Medical Analyzers Luxembourg 2 S.à r.l, Diatron (US), Inc., Diatron MI APAC Private Limited, STRATEC Biomedical (Taicang) Co. Ltd., Taicang, STRATEC Biomedical Ltd. Shanghai, and, for the first time in the 2025 financial year, Natech Plastics, Inc. With regard to STRATEC Consumables GmbH, the nominal amounts of loss carryovers were fully accounted for in the 2025 financial year within deferred tax assets for loss carryovers. Eligibility to be carried forward is as follows:

	1 to 10 years € 000s	11 to 15 years € 000s	16 to 20 years € 000s	Unlimited € 000s	Total € 000s
Loss carryover	5,647	2,943	528	7,257	16,375
(Previous year)	(4,761)	(3,156)	(526)	(4,078)	(12,521)

No deferred tax assets were recognized for deductible temporary differences of € 2,329k (previous year: € 1,185k).

In the 2024 financial year, one subsidiary that had incurred losses in the previous year or the year before had an excess volume of deferred tax assets from temporary differences, loss carryovers, and unused tax credits totaling € 1,020k. At the end of the previous year, these were still deemed recoverable, as the losses resulted from identifiable one-off events subsequent to the company acquisition and, based on a tax forecast, it was deemed likely that the subsidiary would have sufficient taxable income available in future. In the 2025 financial year, the deferred tax assets were written down to the level of available deferred tax liabilities.

The tax expenses of € 5,089k reported for the 2025 financial year (previous year: € 5,987k) deviate by € 3,762k (previous year: € 39k) from the tax expenses of € 1,327k (previous year: € 6,026k) expected to result from application of the overall tax rate for STRATEC SE (27.38%; previous year: 27.38%) to the Group's earnings before taxes. The overall tax rate results from the corporate income tax rate of 15.00% (previous year: 15.00%), the solidarity surcharge of 5.50% of corporate income tax (previous year: 5.50%), and an average trade tax rate of 11.55% (previous year: 11.55%).

The difference between the tax expenses expected and those reported is attributable to the following factors:

	2025 € 000s	2024 € 000s
Consolidated earnings before taxes on income	4,847	22,008
Applicable tax rate	27.38%	27.38%
Expected tax expenses (-) / income (+)	-1,327	-6,026
Differences to local tax rates	241	1,236
Changes in deferred taxes due to changes in tax rates	73	18
Tax-exempt income (+) / expenses (-) from investments, securities price gains/losses, and dividends	-232	87
Tax effects due to non-deductible operating expenses or tax-exempt income	-494	-701
Personnel expenses for stock options	-100	-197
Current and deferred tax expenses (-) / income (+) for previous years	101	-575
Write-ups (+) / write-downs (-) of deferred tax assets	-92	723
Tax expenses (-) / income (+) from the non-statement of deferred taxes on tax losses and temporary differences arising in the year under report	-1,551	-323
Sundry items	-1,708	-229
Reported tax expenses (-) / income (+)	-5,089	-5,987

Of the "Sundry items" item, € -1,595k (previous year: € -359k) resulted from a differing tax base for purposes of local corporate taxation in Hungary. The local corporate tax is levied by municipalities and amounts to 2% of total net sales less the cost of goods sold, purchased services, material costs, intermediary services, and research and development (R&D) expenses.

187

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Income tax receivables of € 4,407k (previous year: € 2,219k) result from advance payments and income tax refunds. Income tax liabilities of € 1,721k (previous year: € 7,970k) relate to current income tax obligations.

Deferred taxes result from the following balance sheet items and circumstances:

	12.31.2025		12.31.2024
	Deferred tax assets € 000s	Deferred tax liabilities € 000s	Deferred tax assets € 000s	Deferred tax liabilities € 000s
Intangible assets	2,572	12,978	3,533	13,185
Right-of-use assets	0	2,253	0	2,797
Property, plant and equipment	185	604	185	889
Financial assets	130	709	0	572
Other receivables and assets	85	107	39	0
Contract assets	0	5,873	156	3,429
Inventories	8,209	1,554	5,233	1,036
Trade receivables	106	1,700	332	163
Receivables from affiliated companies	135	934	67	1,706
Financial liabilities	2,233	0	2,908	0
Provisions for pensions	853	129	971	57
Contract liabilities	905	0	1,432	0
Liabilities to affiliated companies	1,222	250	1,131	209
Other liabilities	243	6,815	132	7,725
Provisions	5	145	5	108
Tax loss carryovers	2,465	0	2,576	1
Net investment in foreign operation	143	49	30	116
Currency translation	24	0	263	223
Sundry items	45	152	2	77
Subtotal	19,560	34,252	18,997	32,293
Netting	-17,398	-17,398	-15,881	-15,881
Amount recognized in consolidated balance sheet	2,162	16,854	3,116	16,412

(12) Non-current and current financial liabilities

Non-current financial liabilities are structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Liabilities to banks | 98,710 | 73,371 |
| Lease liabilities | 8,895 | 12,246 |
| Other | 3,048 | 3,078 |
| Total | 110,653 | 88,695 |

Current financial liabilities are structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Liabilities to banks | 20,971 | 41,586 |
| Lease liabilities | 3,555 | 3,331 |
| Other | 336 | 648 |
| Total | 24,862 | 45,565 |

Financial liabilities to banks

Liabilities to banks include liabilities of € 92.5 million in connection with a syndicated loan agreement which was concluded by STRATEC SE on August 27, 2025 and has a term through to August 27, 2030. This has the possibility of being extended twice by one year in each case if certain conditions are met and at specific dates.

The syndicated loan agreement has a credit volume of € 125.0 million and has the option of being increased by between a minimum of € 10.0 million and a maximum of € 40.0 million. The credit volume is divided into two facilities. With a volume of € 75.0 million, Facility A is an amortizing loan facility which provides for fixed repayments of € 3.0 million as of March 31 and September 30 respectively, with the first such repayment due on March 31, 2026. This facility serves in particular to refinance amounts drawn down from existing master credit agreements. As of December 31, 2025, Facility A had been fully drawn on in an amount of € 75.0 million. By contrast, Facility B, which has a volume of € 50.0 million, plus the option of being increased, is a revolving credit line which may be used both for general company management purposes and for acquisitions. It therefore

provides STRATEC with sufficient flexibility for the future. Of Facility B, an amount of € 17.5 million had been drawn down as of December 31, 2025, with € 13.0 million of this amount recognized under non-current financial liabilities.

To the extent that they relate to Facility A, the transaction costs associated with the syndicated loan agreement are amortized using the effective interest method. The carrying amount of Facility A stood at € 75.4 million as of the balance sheet date.

The interest payable on amounts drawn down from Facilities A and B is calculated based on the EURIBOR for an interest period, plus a margin based on the company's net debt ratio. Non-compliance with the net debt ratio leads to the margin being increased by a premium. The interest periods for Facility A may amount to three or six months, while those for Facility B may amount to one, three, or six months. Unutilized credit amounts are subject to a provision fee.

Premature termination of the credit agreement by the lenders is permitted if the borrower fails to comply with its contractual obligations or its duty to provide information, taking due account of the possibility granted in some cases to the borrower to remedy such failure. The lender may voluntarily terminate an available facility, taking due account of a minimum amount of € 5 million and assuming compliance with a notice period of five banking days. All repayments made prior to the end of a given interest period are subject to an obligation to pay a prepayment penalty.

In addition to the syndicated loan agreement, the company had further liabilities to banks as of December 31, 2025. Excluding accrued interest, these amounted to € 26.6 million (previous year: € 26.8 million) and resulted from various loan agreements with different terms.

For the predominant share of financial liabilities to banks, the respective financing agreements include agreements concerning compliance with specific key financial figures (covenants). These covenants are structured as follows:

| | Carrying amount
12.31.2025
€ 000s | Net debt ratio |
| --- | --- | --- |
| with covenants | 111,131 | 3.5 |
| without covenants | 8,550 | n/a |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

These covenants must be calculated as of the end of each quarter, half year, and full year and must be communicated to the lending banks.

Furthermore, STRATEC is also subject to extensive certification, informational, and reporting obligations, such as the obligation to submit audited separate and consolidated financial statements by April 30 each year. Non-compliance with the aforementioned covenants or the informational and reporting obligations entitles the banks to terminate the respective facilities.

Based on supplementary agreements, the material reporting, informational, and compliance obligations for loans existing prior to the syndicated loan and subsequently still in place were adjusted to the material obligations and key figures applicable for the syndicated loan. As a result, only one key financial figure is relevant for all loan agreements subject to covenants, namely a dynamic net debt ratio of 3.5. Consistent with the arrangements applicable at the respective time, the company complied with its informational and reporting obligations for the 2025 financial year.

Of the liabilities to banks as of December 31, 2024, which stood at € 36.0 million and € 52.0 million and related to two master loan agreements with terms through June 20, 2025 and January 22, 2027 and credit volumes of € 50.0 million and € 75.0 million respectively, an amount of € 83.0 million was redeemed by the syndicated loan agreement.

Lease liabilities

In the 2025 financial year, lease liabilities of € 3,456k were repaid (previous year: € 3,278k), while lease interest of € 679k was paid (previous year: € 842k). Leases resulted in a total outflow of funds amounting to € 4,886k in the 2025 financial year (previous year: € 5,007k). With regard to the interest expenses recognized for lease liabilities under net financial expenses in the 2025 financial year, reference is made to the information provided in Section "C. NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (23) Net financial expenses".

Expenses of € 563k for variable lease payments were not included in the measurement of lease liabilities in the 2025 financial year (previous year: € 575k).

In the 2025 financial year, interest expenses from lease liabilities amounting to € 679k were recognized in net financial expenses (previous year: € 842k).

Other

The "Other" line item includes the corresponding liabilities from payments received as collateral for trade receivables. In addition, the "financial liabilities" line item includes € 37k from foreign exchange forward contracts used to hedge currency risks (previous year: € 262k). The gains of € 226k from measurement as of the balance sheet date (previous year: losses of € 280k) were recognized through profit or loss in the consolidated statement of comprehensive income under "Other operating income" (previous year: "Other operating expenses").

(13) Trade payables

By analogy with the previous year, the trade payables of € 12,635k (previous year: € 18,447k) mostly involve goods and services provided in November and December 2025. Also as in the previous year, these items are due for payment within one year.

(14) Other liabilities

Non-current other liabilities include liabilities of € 1,063k for personnel-related items (previous year: € 1,201k) and other liabilities of € 42k.

Current other liabilities are structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Liabilities for personnel-related items | 6,767 | 7,205 |
| Other tax liabilities | 1,276 | 1,080 |
| Social security liabilities | 1,214 | 1,503 |
| Other | 500 | 581 |
| Total | 9,757 | 10,369 |

191

Liabilities for personnel-related items

Liabilities for personnel-related items mainly include obligations of € 3,053k for profit participation schemes (previous year: € 3,502k), obligations of € 0k for a post-contractual non-compete agreement (previous year: € 484k), obligations of € 2,692k for outstanding vacation (previous year: € 2,513k), and obligations of € 810k for employee working time credits (previous year: € 867k).

Obligations for profit participation schemes include obligations for short-term performance-related remuneration for employees (€ 1,255k; previous year: € 1,647k), and obligations for short, medium, and long-term performance-related remuneration for the Board of Management (€ 1,798k; previous year: € 1,855k). The obligations for long-term performance-related remuneration for the Board of Management (€ 246k; previous year: € 335k) correspond to the fair value of the payments expected for the stock appreciation rights (SARs) granted. The fair value has been determined using the binomial tree method based on the measurement principles of a risk-neutral valuation using the Black/Scholes method.

Stock appreciation rights (SARs)

The stock appreciation rights are structured such that they refer to a payment to be made by the company to the respective bearer of the rights, with the amount of payment being determined by reference to the share price performance of STRATEC SE (reference share) as documented in XETRA trading on the Frankfurt Stock Exchange over a predefined period. The rights in the tranches issued in the 2021 and 2022 financial years have five-year terms calculated from the issue date, although initial payment of the value of the stock appreciation rights may be requested at the earliest after a "minimum waiting period" of two years. By contrast, the rights in the tranche issued in the 2023, 2024, and 2025 financial years have seven-year terms calculated from the issue date, with a "minimum waiting period" of four years. The stock appreciation rights are vested immediately upon being granted. The payment claim is determined on the basis of the increase in the XETRA closing price of a reference share through to the end of the term (based on a 30-day average price plus dividends) compared with the XETRA closing price at the issue date (reference price). In this respect, the annual increase in the reference share price – without reference to the share price performance within the term – must amount to at least eight percent for the tranches issued in the 2021 and 2022 financial years and at least five percent for the tranche issued in the 2023, 2024, and 2025 financial years (exercise hurdle). Should the term of the rights not correspond to a full year, the share price increase is determined on a time-apportioned basis.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The fair value of the stock appreciation rights (SARs) was determined as of the balance sheet date on December 31, 2025 using the binomial tree method and based on the following assumptions:

Stock appreciation rights (SARs) model parameters	Tranche I 2025 financial year	Tranche I 2024 financial year	Tranche I 2023 financial year	Tranche I 2022 financial year	Tranche I 2021 financial year
Issue date	02.10.2025	01.19.2024	01.23.2023	01.25.2022	03.08.2021
Average share price as of issue date	€ 34.85	€ 40.50	€ 84.70	€ 114.40	€ 107.20
Term
Overall term	84.0 months	84.0 months	84.0 months	60.0 months	60.0 months
Remaining term as of 12.31.	73.3 months	60.6 months	48.8 months	12.8 months	2.2 months
Model terms	34.3 Monate
60.0 Monate	34.3 months
60.0 months	34.3 months
48.8 months	12.8 months	2.2 months
Minimum vesting period
Overall term	48.0 months	48.0 months	48.0 months	24.0 months	24.0 months
Remaining term as of 12.31.	37.3 months	24.6 months	12.8 months	0.0 months	0.0 months
Share price on measurement date	€ 22.45	€ 22.45	€ 22.45	€ 22.45	€ 22.45
Expected volatility	41.19%
42.05%	40.54%
40.90%	42.06%
42.64%	45.02%	45.02%
Risk-free interest rate	2.20%
2.44%	2.20%
2.44%	2.20%
2.33%	2.02%	2.02%
Fair value as of issue date	€ 10.58	€ 12.60	€ 31.35	€ 37.45	€ 38.05
Fair value as of 12.31	€ 3.05 €	€ 2.58	€ 0.44	€ 0.00 €	€ 0.00

The following table presents the development in the number of stock appreciation rights (SARs) in the period under report:

Number of SARs	Balance at 01.01.2025	Granted	Balance at 12.31.2025
Tranche I 2021	22,500	0	22,500
Tranche I 2022	22,500	0	22,500
Tranche I 2023	38,370	0	38,370
Tranche I 2024	40,340	0	40,340
Tranche I 2025	0	41,000	41,000
Total	123,710	41,000	164,710

The income recognized from cash-settled share based remuneration amounted to € 89k (previous year: € 99k).

193

Other tax liabilities

The other tax liabilities relate to transaction taxes and employee payroll settlement.

Social security liabilities

Social security liabilities chiefly relate to social security contributions still to be transferred.

Other

STRATEC received government grants of € 1,072k in the 2025 financial year (previous year: € 924k). These grants relate to funding for research purposes. The total government grants deferred as liabilities amount to € 209k (previous year: € 174k).

(15) Contract liabilities

Contract liabilities mainly relate to prepayments received from customers for development services and product deliveries. The predominant share of contract liabilities will be recognized in sales in subsequent financial years in line with their respective maturities.

Contract liabilities were structured as follows:

| | 12.31.2025
€ 000s | 12.31.2024
€ 000s |
| --- | --- | --- |
| Development and services | 3,380 | 5,083 |
| Other | 2,964 | 2,495 |
| Total | 6,344 | 7,578 |

(16) Provisions

Provisions mainly include provisions for guarantees and warrantees (€ 577k; previous year: € 950k).

Provisions developed as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| 01.01. | 950 | 1.502 |
| Added | 34 | 15 |
| Reversed | -414 | -541 |
| Utilized | 0 | 0 |
| Currency differences | 7 | -26 |
| Total | 577 | 950 |

There is uncertainty in respect of the amount and maturity of the provisions recognized. This has been duly accounted for by way of best estimates.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

D. NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(17) Sales

The sales generated from contracts with customers are presented below, broken down by the type of goods or services, geographical regions, and point or period of time at which the respective sales are recognized.

Sales from contracts with customers are structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Type of goods or services | | |
| Analyzer systems | 86,727 | 82,671 |
| Service parts and consumables | 103,560 | 110,429 |
| Development and services | 58,932 | 63,228 |
| Other | 1,644 | 1,296 |
| Total | 250,863 | 257,624 |
| Geographical regions | | |
| Germany | 30,030 | 27,824 |
| European Union | 102,237 | 82,973 |
| Other | 118,596 | 146,827 |
| - of which US | 101,056 | 120,141 |
| Total | 250,863 | 257,624 |
| Time at which sales are recognized | | |
| Recognized at a point in time | 223,570 | 230,031 |
| Recognized over time | 27,293 | 27,593 |
| Total | 250,863 | 257,624 |

In the previous year, sales from development and services include sales from licenses.

For analyzer systems, service parts, and consumables, the allocation of sales to geographical regions has been based on the delivery locations from STRATEC's perspective. In view of the fact that STRATEC's customers partly supply their country outlets and customers from central distribution centers, however, this breakdown of sales does not necessarily reflect the final operating locations of the analyzer systems, service parts, and consumables supplied by STRATEC.

List of major customers pursuant to IFRS 8.34: Two customers with sales of € 61.6 million and € 50.8 million (previous year: € 67.3 million and € 50.5 million). In all cases, these figures include sales from several analyzer system lines, development activities, and services and consumables.

Sales include the following amounts:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Sales from amounts included in contract liabilities at the beginning of the financial year | 2,215 | 2,498 |
| Sales from performance obligations satisfied in previous financial years | 0 | 0 |
| Total | 2,215 | 2,498 |

The total transaction price allocable to performance obligations under customer contracts that are not yet satisfied or only partially satisfied constitutes sales that are contractually agreed but not yet recognized and amounted to € 446,353k as of December 31, 2025 (previous year: € 461,257k). This includes amounts recognized as contractual liabilities and agreed payments from customers that are not yet due. The unsatisfied or partially satisfied performance obligations comprise development performance obligations amounting to € 60,614k (previous year: € 58,061k) and

performance obligations related to minimum purchase commitments for analyzer systems amounting to € 385,738k (previous year: € 403,887k). STRATEC expects to satisfy these unsatisfied or partially satisfied performance obligations within one to three years for development services and within one to nine years for fulfilling minimum purchase commitments for analyzer systems.

The transaction price allocated to these unsatisfied performance obligations is not disclosed for all performance obligations from development cooperations, services, and delivery obligations that relate to a period of no more than one year.

(18) Cost of sales

Cost of sales, amounting to € 186,643k (previous year: € 181,237k), include production-related manufacturing expenses incurred for the products, maintenance and spare parts sold, and for development and services. The increase in cost of sales despite the year-on-year reduction in sales is attributable to the specific types of sales and to product mix factors.

(19) Research and development expenses

Research and development expenses not meeting the criteria for capitalization pursuant to IAS 38 (Intangible Assets) totaled € 15,936k (previous year: € 11,612k) and mainly involved personnel expenses and cost of materials. Furthermore, the figure for the 2025 financial year includes expenses of € 6,148k resulting from the impairment of an internally generated intangible asset.

Gross development expenses were structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Research and development expenses | 62,952 | 55,405 |
| • of which development expenses recognized as sales or capitalized | -47,016 | -43,793 |
| Total | 15,936 | 11,612 |

In the financial year under report, an amount of € 1,037k from grants was recognized as a reduction to research and development expenses (previous year: € 971k).

(20) Sales-related expenses

Sales-related expenses amounted to € 12,931k (previous year: € 12,456k) and included direct sales expenses and sales overheads. These basically include all expenses incurred for personnel, materials, and other expenses for sales (including prorated depreciation and amortization). These partly involve expenses arising in connection with product launches.

(21) General administration expenses

At € 25,752k (previous year: € 24,445k), administration expenses include the personnel and material expenses incurred in central administration departments (including corporate management, controlling, finance and accounting, legal affairs, investor relations, and personnel) that are not directly attributable to production, sales, or R&D.

(22) Other operating expenses and income

Other operating expenses are structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| From exchange rate losses | 5,735 | 5,569 |
| From forward exchange transactions | 0 | 280 |
| Other | 26 | 188 |
| Total | 5,761 | 6,037 |

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Other operating income is structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| From exchange rate gains | 4,010 | 6,411 |
| From forward exchange transactions | 226 | 0 |
| From reversals of provisions and liabilities | 148 | 89 |
| Other | 962 | 407 |
| Total | 5,346 | 6,907 |

With regard to the other operating income (previous year: other operating expenses) from forward exchange transactions, reference is made to the information provided in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (12) Non-current and current financial liabilities".

Other than that, other operating income and other operating expenses also include numerous standalone items which, viewed individually, are of subordinate significance.

(23) Net financial expenses

Financial income is structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Interest income on cash | 162 | 54 |
| Other financial income | 40 | 266 |
| Total | 202 | 320 |

Financial expenses are structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Interest expenses on loan liabilities to banks | 3,354 | 4,899 |
| Interest expenses for leases | 679 | 842 |
| Net interest from pension provisions | 101 | 95 |
| Interest expenses for compounding of liabilities and provisions | 21 | 13 |
| Interest expenses for tax-related back payments | 32 | 36 |
| Other interest expenses | 9 | 17 |
| Total | 4,196 | 5,902 |

The other financial result includes expenses and income from the measurement as of the balance sheet date of investments in listed companies.

(24) Earnings per share

Earnings per share have been calculated pursuant to IAS 33 (Earnings per Share) by dividing the consolidated net income by the average weighted number of shares in STRATEC SE in circulation in the past financial year.

The treasury stock held by STRATEC AG has been excluded from the calculation of the number of shares in circulation. Any change in the number of shares within the financial year is accounted for by weighting the respective figures on a prorated basis. The resultant weighted average number of outstanding shares used to calculate (basic) earnings per share amounts to 12,155,942 (previous year: 12,155,942).

Pursuant to IAS 33 (Earnings per Share), the consolidated net income of € -242k (previous year: € 16,021k) reported in the consolidated statement of comprehensive income has been used as the unaltered basis for the calculation.

Due to the option rights outstanding as of December 31, 2025, both basic earnings per share (€ -0.02; previous year: € 1.32) and diluted earnings per share (€ -0.02; previous year: € 1.32) have been calculated. This is based on the assumption that all outstanding, unexercised options are exercised, provided that all conditions for exercise were met as of the balance sheet date and that the average market price of the common shares during the financial year exceeded the exercise price of the options. Earnings per share figures reported for previous years are not retrospectively adjusted to account for changes in the market price of common shares. The number of additional shares to be accounted for is calculated by comparing the proceeds generated by such exercising of options with the proceeds which could theoretically be generated by issuing new shares on customary market terms.

Any allocation or exercising of option rights within the financial year is accounted for using prorated weighting. The resultant weighted average number of outstanding shares with a diluting effect accounted for in the calculation of (diluted) earnings per share amounts to 12,155,942 (previous year: 12,155,942).

(25) Additional disclosures on the consolidated statement of comprehensive income

Cost of materials

The functional divisions include the following cost of materials:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Costs of raw materials and supplies | 97,224 | 96,520 |
| Costs of purchased services | 1,756 | 3,113 |
| Total | 98,980 | 99,633 |

Personnel expenses

The functional divisions include the following personnel expenses:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Wages and salaries | 79,317 | 81,538 |
| Social security contributions | 8,095 | 7,759 |
| Pension and welfare expenses | 5,460 | 5,454 |
| Total | 92,872 | 94,751 |

Furthermore, expenses of € 2,346k (previous year: € 1,816k) were incurred for wages and salaries for third-party employees (personnel leasing).

Number of employees

The average number of individuals employed by the Group during the financial year (including temporary employees from personnel agencies) was as follows:

| | 2025
Number | 2024
Number |
| --- | --- | --- |
| Employees | 1,373 | 1,416 |
| Trainees | 17 | 20 |
| Employees in permanent employment | 1,390 | 1,436 |
| Temporary employees | 33 | 32 |
| Total | 1,423 | 1,468 |

Of permanent employees, 518 (previous year: 530) were in Germany, and 855 (previous year: 886) abroad. Of temporary employees, 17 (previous year: 17) were in Germany, and 16 (previous year: 15) abroad.

Disclosures concerning the auditor's fee pursuant to § 314 (1) No. 9 HGB

The total fees recorded for the group auditor in the financial year under report pursuant to § 314 (1) No. 9 of the German Commercial Code (HGB) are structured as follows

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Fee for | | |
| a) Auditing | 1,037 | 438 |
| - of which for the previous year | 652 | 0 |
| b) Other certification services | 124 | 44 |
| c) Tax advisory services | 0 | 0 |
| d) Other services | 0 | 2 |
| Total | 1,161 | 484 |

The fees for other certification services relate to the limited assurance audit performed on the non-financial declaration and the Group Sustainability Statement. The fees reported for other services in the 2024 financial year relate to the provision of a study on executive remuneration.

197

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

E. NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

General disclosures

The consolidated cash flow statement shows how the liquidity of the STRATEC Group has changed due to inflows and outflows of funds during the financial year. A distinction is made between the cash flows from operating, investing, and financing activities.

The amounts reported for foreign group companies have generally been translated at annual average exchange rates. One exception involves cash which, like in the consolidated balance sheet, has been recognized at the exchange rate on the reporting date. The impact of changes in exchange rates on cash is presented separately.

The outflows of funds for leases are divided, with the amount attributable to the capital repayments share of lease liabilities being allocated to the cash flow from financing activities and the interest portion of lease liabilities being allocated to the cash flow from operating activities. Outflows of funds for low-value leases, short-term leases, and for variable lease payments not accounted for when measuring the lease liabilities are allocated to the cash flow from operating activities.

Inflow / outflow of funds from operating activities

The cash flow from operating activities has been calculated using the indirect method. This involves eliminating non-cash earnings components from consolidated net income after taxes.

Interest income and expenses have been allocated to operating activities, as have the components of the "Other financial result". Dividend payments are presented in the cash flow from financing activities.

Tax payments have been reported under operating activities in their entirety, as their allocation to individual business divisions is not practically feasible.

The interest paid/received and income taxes paid/refunded items in the cash flow from operating activities have been presented using the direct method. In the first step, this involves adjusting consolidated net income to account for income and expenses recognized in the consolidated statement of comprehensive income. After this, the interest and income taxes paid or received are reported separately.

Change in liabilities for financing activities

	Interest				Non-cash-effective changes
	Balance at 01.01.2025 € 000s	Cash-effective changes € 000s	Expenses € 000s	Paid € 000s	Exchange rates € 000s	New leases € 000s	Other¹ € 000s	Balance at 12.31.2025 € 000s
Non-current liabilities to banks	73,371	40,453	3,354	-2,521	14	0	-15,129	98,709
Current liabilities to banks	41,586	-36,552			-26	0	15,129	20,970
Non-current lease liabilities	12,246	0	679	-679	-412	620	-3,559	8,895
Current lease liabilities	3,331	-3,456			-50	171	3,559	3,555
Total	130,534	445	4,033	-3,200	-474	791	0	132,129

¹ The "Other" column includes the effects of reclassifications from the non-current share of liabilities for financing activities arising due to the passage of time.

	Interest				Non-cash-effective changes
	Balance at 01.01.2024 € 000s	Cash-effective changes € 000s	Expenses € 000s	Paid € 000s	Exchange rates € 000s	New leases € 000s	Other¹ € 000s	Balance at 12.31.2024 € 000s
Non-current liabilities to banks	80,800	-2,401	4,899	-5,393	37	0	-5,065	73,371
Current liabilities to banks	44,933	-7,935			17	0	5,065	41,586
Non-current lease liabilities	13,536	0	842	-842	260	1,782	-3,332	12,246
Current lease liabilities	2,795	-3,278			-19	501	3,332	3,331
Total	142,064	-13,614	5,741	-6,235	295	2,283	0	130,534

¹ The "Other" column includes the effects of reclassifications from the non-current share of liabilities for financing activities arising due to the passage of time.

(26) Cash

Cash comprises cash holdings and demand deposits at banks. As of December 31, 2025, cash amounted to € 23,056k (previous year: € 47,164k).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

F. SEGMENT REPORTING

STRATEC is a single-segment entity within the meaning of IFRS 8 (Operating Segments), as its business activities focus on the design and manufacture of automation solutions for partners in the field of in-vitro diagnostics. Internal reporting focuses on key value drivers such as technologies and systems related to these automation solutions. Accordingly, STRATEC is managed as a single reporting unit by its chief operating decision makers, who make decisions and allocate resources at this level.

The following is a summary of the key figures from the consolidated statement of consolidated income:

To facilitate comparison, the key earnings figures for the 2025 financial year have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions and other non-recurring items (including one-off advisory expenses, fees, and reorganization expenses). The key earnings figures for the 2024 financial year have been additionally adjusted to exclude one-off personnel expenses of € 1.7 million in connection with the departure of a member of the Board of Management.

The reconciliation of adjusted operating earnings before depreciation and amortization (EBITDA) with the earnings before taxes (EBT) reported in the consolidated statement of comprehensive income is as follows:

	2025 (€ 000s)	2024 (€ 000s)	Change
Overview of key figures in consolidated statement of comprehensive income
Sales	250,863	257,624	-2.6% (cc: -1.1%)
Adjusted EBITDA	40,645	49,214	-17.4%
Adjusted EBITDA margin (%)	16.2	19.1	-290 bps
Adjusted EBIT	25,166	33,459	-24.8%
Adjusted EBIT margin (%)	10.0	13.0	-300 bps
Adjusted consolidated net income	14,218	20,496	-30.6%
Adjusted earnings per share (€)	1.17	1.69	-30.8%
Earnings per share (€)	-0.02	1.32	-101.5%

bps = basis points
cc = constant currency

	2025 (€ 000s)	2024 (€ 000s)
Adjusted operating earnings before depreciation and amortization (EBITDA)	40,645	49,214
Depreciation and amortization excluding PPA and impairments	-15,479	-15,755
Adjusted operating earnings (EBIT)	25,166	33,459
PPA amortization	-3,114	-3,679
Impairments of intangible assets	-6,148	0
Impairments of inventories	-4,309	0
Advisory expenses	-1,898	-298
One-off personnel expenses	-629	-1,940
Operating earnings (EBIT)	9,068	27,542
Net financial expenses	-4,221	-5,534
Earnings before taxes (EBT)	4,847	22,008

201

G. FINANCIAL INSTRUMENTS

The following table presents the carrying amounts for each individual measurement category and the fair values for each individual measurement category of financial instruments in accordance with IFRS 9 (Financial Instruments) and reconciles these with the corresponding balance sheet items. The financial line items were not offset, neither was there any netting potential as of the balance sheet date.

Abbreviations for measurement categories:

AC	Measured at amortized cost
FVTPL	Measured at fair value through profit or loss
FVTOCI	Measured at fair value through OCI
n/a	Not attributable to any measurement category

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

| 12.31.2025
(12.31.2024) | IFRS 9 category | Carrying amount
€ 000s | Amortized cost
€ 000s | of which Level 1
€ 000s | of which Level 2
€ 000s | of which Level 3
€ 000s | Not attributable to any measurement category
€ 000s | Total
€ 000s |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Non-current assets | | | | | | | | |
| Financial assets | | | | | | | | |
| Amortized cost | AC | 3,505
(3,472) | 3,505
(3,472) | | | | | 3,505
(3,472) |
| Fair value through OCI | FVTOCI | 580
(0) | | | | 580
(0) | | 580
(0) |
| Kurzfristige Vermögenswerte | | | | | | | | |
| Trade receivables | AC | 56,933
(41,579) | 56,933
(41,579) | | | | | 56,933
(41,579) |
| Financial assets | | | | | | | | |
| Amortized cost | AC | 842
(832) | 842
(832) | | | | | 842
(832) |
| Fair value through profit or loss | FVTPL | 503
(731) | | 503
(731) | | | | 503
(731) |
| Cash | AC | 23,056
(47,164) | 23,056
(47,164) | | | | | 23,056
(47,164) |
| Total financial assets by categories | | | | | | | | |
| of which amortized cost | AC | | 84,336
(93,047) | 0
(0) | 0
(0) | 0
(0) | | 84,336
(93,047) |
| of which fair value through profit or loss | FVTPL | | 0
(0) | 503
(731) | 0
(0) | 0
(0) | | 503
(731) |
| of which fair value through profit or loss | FVTOCI | | 0
(0) | 0
(0) | 0
(0) | 0
(0) | | 580
(0) |
| 12.31.2025
(12.31.2024) | IFRS 9 category | Carrying amount
€ 000s | Amortized cost
€ 000s | of which Level 1
€ 000s | of which Level 2
€ 000s | of which Level 3
€ 000s | Not attributable to any measurement category
€ 000s | Total
€ 000s |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Non-current debt | | | | | | | | |
| Financial liabilities | | | | | | | | |
| Amortized cost | AC | 110,653
(88,695) | 101,758
(76,449) | | | | 8,895
(12,246) | 110,653
(88,695) |
| Current debt | | | | | | | | |
| Financial liabilities | | | | | | | | |
| Amortized cost | AC | 24,825
(45,304) | 21,270
(41,973) | | | | 3,555
(3,331) | 24,825
(45,304) |
| Fair value through profit or loss | FVTPL | 37
(262) | (0) | | 37
(262) | | (0) | 37
(262) |
| Trade payables | AC | 12,635
(18,447) | 12,635
(18,447) | | | | (0) | 12,635
(18,447) |
| Total financial liabilities by categories | | | | | | | | |
| of which amortized cost | AC | | 135,663
(136,869) | 0
(0) | 0
(0) | 0
(0) | | 135,663
(136,869) |
| of which fair value through profit or loss | FVTPL | | 0
(0) | 0
(0) | 37
(262) | 0
(0) | | 37
(262) |

203

Fair value hierarchy

As in the previous year, no items were reclassified within the three input factor levels in the 2025 financial year. Any reclassifications into or out of the fair value hierarchy levels are executed at the end of the reporting period.

The financial assets allocated to Level 1 involve shares in listed companies. These have been measured as of the balance sheet date at the closing price on the stock market with the highest trading volumes. The financial assets and liabilities allocated to Level 2 relate to foreign exchange forward contracts used to hedge against currency risks. The financial assets allocated to Level 3 involve share in unlisted companies, for which the fair value is determined based on input factors that are not observable.

The fair value of financial instruments is determined as the present value of the respective future cash inflows or outflows. Discounting is based on a market interest rate with a congruent term and risk structure. For financial instruments measured at fair value, reference is made to a listed price on an active market, if this is available. For current financial assets and liabilities not measured at fair value, the fair values approximate to their carrying amounts due to the short remaining terms involved. For non-current other financial assets measured at amortized cost, the carrying amounts also approximate to the fair values due to their deposit at banks and the correspondingly very low credit risk. The fair value of non-current financial liabilities measured at amortized cost amounted to € 97,331k (previous year: € 72,368k) and is allocated to Level 3.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The net results on financial instruments broken down into their respective measurement categories were as follows:

From subsequent measurement

2025	IFRS 9 category	From investments € 000s	From interest € 000s	Fair value through profit or loss € 000s	Currency translation € 000s	Impairment € 000s	Net results € 000s
Financial assets measured at amortized cost	AC	0	195	0	-1,366	-118	-1,289
Financial assets measured at fair value (not designated)	FVTPL	7	0	-227	0	0	-220
Financial liabilities measured at fair value (not designated)	FVTPL	0	0	226	0	0	226
Financial liabilities measured at amortized cost	AC	0	-3,354	0	-359	0	-3,713
Total		7	-3,159	-1	-1,725	-118	-4,996

From subsequent measurement

2024	IFRS 9 category	From investments € 000s	From interest € 000s	Fair value through profit or loss € 000s	Currency translation € 000s	Impairment € 000s	Net results € 000s
Financial assets measured at amortized cost	AC	0	56	0	3,274	-1,897	1,433
Financial assets measured at fair value (not designated)	FVTPL	8	0	-232	0	0	-224
Financial liabilities measured at fair value (not designated)	FVTPL	0	0	0	0	0	0
Financial liabilities measured at amortized cost	AC	0	-4,899	0	-2,432	0	-7,331
Total		8	-4,843	-232	842	-1,897	-6,122

Of the net gains or loss from financial instruments measured at fair value through profit or loss, an amount of € 227k was recognized in the other financial result (previous year: € 48k), while € 226k was recognized in other operating income (previous year: other operating expenses of € 280k).

Income and expenses resulting from the translation through profit or loss of financial assets and liabilities denominated in foreign currencies at foreign exchange spot rates as of the balance sheet date are recognized together with interim translation results under other operating income or expenses. Translation of cash as of the balance sheet date resulted in the recognition

through profit or loss of currency income of € 5k in other operating income (previous year: € 0k). Conversely, currency expenses of € 15k were recognized under other operating expenses from the translation through profit or loss of cash as of the balance sheet date (previous year: € 691k). The total net interest result of € 3,159k (previous year: € 4,843k) consists of interest income € 195k on financial assets measured at amortized cost (previous year: € 56k) and interest expenses of € 3,354k for financial liabilities measured at amortized cost (previous year: € 4,899k).

205

H. RISK MANAGEMENT

Risk management principles

STRATEC's assets, liabilities and future activities are subject to liquidity risks, default risks, and market risks resulting from changes in exchange rates, interest rates, and investment prices. The objectives and methods used by STRATEC to deal with the financial risks listed below form the object of the Group's risk management activities.

The objective of financial risk management is to limit these risks primarily by means of the company's operating activities. In assessing individual risks, the Board of Management takes account of the volume of such risks arising across the Group as a whole. These activities are supplemented by finance-based measures. The primary objective is to limit the risks of relevance to the cash flow. The basic principles of the company's financial policy are reviewed by the Board of Management annually and revised to account for new developments. The Supervisory Board is informed at regular intervals of the financial position of the Group and the assessments made by the Board of Management.

The following risks could in principle arise for STRATEC in connection with financial instruments:

Liquidity risks

For STRATEC, liquidity risks involve the risk of not being able to meet payment obligations due to insufficient cash. To safeguard the company's solvency, sufficient liquid funds and fixed-term credit lines are reserved via STRATEC SE on the basis of rolling liquidity planning which provides current information as to the expected development in liquidity on company and currency level.

STRATEC had cash of € 23,056k at the balance sheet date (previous year: € 47,164k). As of December 31, 2025, unutilized committed credit lines totaling € 32.2 million were available to STRATEC (previous year: € 37.0 million).

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Maturity analysis

The liquidity risk to which STRATEC is exposed in connection with its financial instruments consists of obligations due to future interest and principal payments for financial liabilities. Future payments are structured as follows:

€ 000s	Carrying amount 12.31.2025	Cash flows 2026		Cash flows 2027		Cash flows 2028 - 2029		Cash flows 2030 and later
		Interest	Principal	Interest	Principal	Interest	Principal	Interest	Principal
	135,515	3,655	34,936	3,195	16,973	5,298	27,902	2,018	65,340
Financial liabilities
+ of which liabilities to banks	119,681	3,156	20,869	2,863	10,347	4,989	23,645	1,925	64,280
+ of which lease liabilities	12,450	499	3,555	332	3,605	309	4,230	93	1,060
+ of which other - derivatives	37	0	10,213	0	0	0	0	0	0
+ of which other - collateral	3,347	0	299	0	3,021	0	27	0	0
Trade payables	12,635	0	12,635	0	0	0	0	0	0
Total	148,150	3,655	47,571	3,195	16,973	5,298	27,902	2,018	65,340
€ 000s	Carrying amount 12.31.2024	Cash flows 2025		Cash flows 2026		Cash flows 2027 - 2028		Cash flows 2029 and later
---	---	---	---	---	---	---	---	---	---
		Interest	Principal	Interest	Principal	Interest	Principal	Interest	Principal
Financial liabilities	134,260	4,255	56,654	3,115	11,491	2,876	65,756	329	11,448
+ of which liabilities to banks	114,957	3,545	41,386	2,581	5,089	498	60,016	114	8,266
+ of which lease liabilities	15,577	710	3,331	534	3,374	2,378	5,700	215	3,172
+ of which other - derivatives	262	0	11,551	0	0	0	0	0	0
+ of which other - collateral	3,464	0	386	0	3,028	0	40	0	10
Trade payables	18,447	0	18,447	0	0	0	0	0	0
Total	152,707	4,255	75,101	3,115	11,491	2,876	65,756	329	11,448

A repayment of € 3.0 million included in the cash flows for 2030 and later was made in the first quarter of 2026.

Default risks

Default risks involve the risk that counterparties will fail to meet their payment obligations towards STRATEC. This primarily relates to the balance sheet items of "trade receivables", "contract assets", and "cash and cash equivalents". Within the framework of credit risk management, default risk is managed with continuous monitoring of the relevant risk positions and, in particular, with trade credit insurance for trade receivables. Any remaining default risks are accounted for by recognizing suitable allowances for expected credit losses.

The maximum default risk is represented by the carrying amounts of the financial assets recognized in the consolidated balance sheet and amounts to € 115,036k (previous year: € 115,845k).

The breakdown by counterparty for the balance sheet items of "trade receivables" and "contract assets" as of December 31, 2025 was as follows:

With investment grade rating: € 76,394k (previous year: € 89,724k)
No rating or non-investment grade rating: € 38,642k (previous year: € 26,122k)

The largest individual exposure to a single counterparty as of December 31, 2025 amounted to:

With investment grade rating: € 20,282k (previous year: € 17,214k)
No rating or non-investment grade rating: € 13,291k (previous year: € 10,693k)

To secure the largest individual exposure to a counterparty with no rating or a non-investment grade rating, STRATEC holds cash of € 3,000k from the counterparty (previous year: € 3,000k) which is subject to contractually agreed restrictions on disposal which only allow STRATEC to access the funds if specified conditions materialize. Cash and cash equivalents are invested exclusively with credit institutions that have an investment grade rating or with credit institutions in Germany that are members of institutional protection systems, such as the Sparkassen-Finanzgruppe. The default risk associated with these investments is therefore deemed negligible.

Foreign currency risks

On account of its international business activities, STRATEC is exposed to foreign currency risks resulting from the impact of exchange rate movements on business transactions and the foreign currency receivables and liabilities as of the balance sheet date (transaction risks). Furthermore, the translation of the financial statements of foreign subsidiaries into the group currency (€) also involves foreign currency risks (translation risks).

The principal foreign currency transactions performed by STRATEC relate to export transactions and the payment of development services in US dollars and intragroup loan relationships in US dollars, which are partly recognized as net investments in foreign operations.

As in the previous year, to secure its foreign currency risks STRATEC deployed forward exchange transactions. With regard to the accounting treatment, reference is made to the information in Section "B. ACCOUNTING POLICIES APPLIED - Financial Instruments".

Sensitivity to exchange rate movements (transaction risk)

The transaction risk exposure of STRATEC's consolidated earnings before income taxes as of the balance sheet date was as follows:

Risk exposure in € 000s

Local currency	Foreign currency	2025	2024
EUR	USD	11,692	18,631
CHF	EUR	6,113	1,588
CHF	USD	12,031	12,801
HUF	USD	5,057	7,996
HUF	EUR	-17,033	-18,736
Total		17,860	22,280

The transaction risk exposure of STRATEC's other comprehensive income as of the balance sheet date was as follows:

Risk exposure in € 000s

Local currency	Foreign currency	2025	2024
EUR	USD	1,861	2,105
CHF	USD	5,307	5,252
EUR	GBP	573	0
Total		7,741	7,357

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The following sensitivity analysis shows the material effects of any change in a foreign currency against the local currency on consolidated net income before taxes on income. Account is taken of those changes in the carrying amounts of the financial assets and liabilities in foreign currencies recognized as of the respective balance sheet date which result from changes in the exchange rate. The sensitivity analysis accounts for hedging transactions in place as of the balance sheet date. No account is taken of currency translation differences resulting from the translation of financial statements into the group currency.

STRATEC's exchange rate sensitivity in respect of transaction risk as of the balance sheet date was as follows:

Impact of change in foreign currency by 10% compared with local currency in € 000s

Local currency	Foreign currency	2025		2024
		10%	-10%	10%	-10%
EUR	USD	-138	169	-668	816
CHF	EUR	-556	679	-144	176
CHF	USD	-1,094	1,337	-1,164	1,422
HUF	USD	-460	562	-727	888
HUF	EUR	1,548	-1,893	-1,703	2,082
Total		-699	854	-4,406	5,385

The following sensitivity analysis shows the material effects of any change in a foreign currency against the local currency on other comprehensive income. Account is taken of those changes in the carrying amounts of the financial assets in foreign currencies recognized as of the respective balance sheet date which result from changes in the exchange rate. This specifically concerns intragroup net investments for which the currency translation differences are recognized in the corresponding line item in the consolidated statement of comprehensive income.

Impact of change in foreign currency by 10% compared with local currency in € 000s

Local currency	Foreign currency	2025		2024
		10%	-10%	10%	-10%
EUR	USD	-169	207	-191	234
CHF	USD	-482	590	-477	584
EUR	GBP	-52	64	0	0
Summe		-704	860	-669	817

Currency translation income totaling € 4,010k (previous year: € 6,411k) and currency translation expenses totaling € 5,735k (previous year: € 5,569k) were recognized through profit or loss in the 2025 financial year and reported under other operating income and other operating expenses respectively.

Interest rate risks

Interest rate risks involve the risk of fluctuations in the value of a financial instrument or in future cash flows as a result of changes in market interest rates.

STRATEC is subject to interest rate risks in terms of its interest-bearing/interest-charging financial instruments.

Sensitivity of fair values for fixed-interest financial instruments

Changes in market interest rates have no implications for the measurement of fixed-interest financial instruments at STRATEC as of the balance sheet date, as these items are measured at amortized cost using the effective interest method.

Sensitivity of cash flows for floating-interest financial instruments

Changes in market interest rates have no implications for the measurement of floating-interest financial instruments at STRATEC as of the balance sheet date, as these items are measured at amortized cost using the effective interest method. Unlike fixed-interest financial liabilities, however, financial liabilities with floating interest rates involve the risk of fluctuations in future cash flows for payments of interest due to changes in market interest rates. STRATEC had financial liabilities with a nominal volume of € 97,500k with floating interest rates at the balance sheet date as of December 31, 2025 (previous year: € 88,000k). Any change of +100 basis points or -100 basis points would have a negative or positive impact of € 975k on earnings before taxes on income (previous year: € 880k).

Unlike cash governed by fixed interest rates, cash subject to floating interest rates is exposed to the risk of fluctuations in future cash flows from interest payments due to changes in market interest rates. As of the balance sheet date on December 31, 2025, STRATEC had cash subject to floating interest rates with a nominal value of € 4,819k (previous year: € 3,120k). Any change of +100 basis points or -100 basis points would have a positive or negative impact of € 48k on earnings before taxes on income (previous year: € 31k).

209

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Other price risks

The financial assets requiring measurement in Level 1 of the fair value hierarchy are subject in particular to stock price risks. Had fair values been 10% higher (lower) than their balance sheet date levels, then consolidated net income before taxes on income would have been € 50k (previous year: € 73k) higher (lower).

Due to the absence of a listed market price, the financial instruments measured at fair value in Level 3 are exposed to price risks resulting in particular from uncertainties in non-observable input parameters (e.g. cash flow forecasts, discount rates, and growth assumptions). Any changes in these key input factors may basically lead to fluctuations in the fair value. In particular, the estimated fair value would increase (decrease) if, for measurement based on sales multiples, the sales at the underlying investment were to be higher (lower). Given the comparatively low carrying amounts of the financial instruments measured at fair value in Level 3, however, the implications of any changes in key non-observable input factors are of immaterial significance. These changes in the fair values of financial instruments measured at Level 3 are recognized in other comprehensive income (FVOCI).

Capital management

The objectives of capital management at STRATEC are:

(a) To safeguard the company's continued existence to enable it to continue generating income for shareholders and benefits for other stakeholder groups, and

(b) To generate an appropriate return for shareholders by setting prices for products and services that are suitable to the market and the degree of risk involved.

STRATEC determines its level of capital in proportion to risk. To this end, the company manages its capital structure and makes adjustments to be able to react to changes in the macroeconomic framework and the risk characteristics of its underlying assets. To maintain or adjust its capital structure, STRATEC may adjust the level of dividends paid to its shareholders, repay capital to its shareholders, issue new shares, or reduce debts by making repayments or selling assets.

The main key figures referred to by the Board of Management to manage the company's asset structure are the equity ratio and the dynamic net debt ratio (net financial liabilities as a proportion of EBITDA). The equity ratio amounted to 55.7% at December 31, 2025 (previous year: 54.5%). The current target corridor for this figure amounts to between 50 percent and 75 percent. The net debt ratio stood at 3.33 as of December 31, 2025 (previous year: 1.85). The current target figure, which has been derived based on loan agreements subject to covenants, amounted to under 3.50 as of December 31, 2025 (previous year: under 3.00).

211

I. OTHER DISCLOSURES

Related party disclosures

Closely related companies and persons as defined in IAS 24 (Related Party Disclosures) are persons and companies in a position to exert influence on STRATEC SE and/or its subsidiaries or subject to control or significant influence by STRATEC SE or its subsidiaries. Such parties particularly directors and officers at STRATEC SE and their close family relations.

Directors and officers

The Board of Management of STRATEC SE comprises the following members:

Marcus Wolfinger,
Graduate in Business Administration, Chair (CEO)
Dr. Claus Vielsack.
Graduate in Chemistry, Director of Product Development
Dr. Georg Bauer,
Graduate in Biochemistry, Director of Sales
Tanja Bücherl
Graduate in Business Administration, Director of Finance (CFO)
(member of Board of Management since November 1, 2025)

The members of the Board of Management are authorized to solely represent the company.

Marcus Wolfinger has been a member of the management of STRATEC Capital GmbH since November 2015 and a member of the management of STRATEC PS Holding GmbH since May 2016.

Dr. Claus Vielsack has been a member of the management of STRATEC Capital GmbH since November 2025 and a member of the management of STRATEC PS Holding GmbH since May 2016.

Dr. Georg Bauer has been a member of the management of STRATEC Capital GmbH since November 2025.

Tanja Bücherl has been a member of the management of STRATEC Capital GmbH since November 2025.

Oliver Albrecht who, as interim CFO, assumed the responsibilities of Dr. Robert Siegle from July 4, 2024, ended his activity as interim CFO as of October 31, 2025.

The remuneration system for the Board of Management was again reviewed pursuant to § 120a (1) AktG in connection with the Annual General Meeting on June 27, 2025. The updated version of the remuneration system, which in particular has simplified the structure of short-term variable remuneration and replaced the discretionary component within long-term variable remuneration with a strategy component, requires application from June 27, 2025 to all employment contracts newly concluded, extended, or otherwise amended with members of the Board of Management. Where necessary, reference is made below to the adjustments made between the currently applicable 2021 and 2025 remuneration systems.

The remuneration of the members of the Board of Management consists of fixed basic remuneration and variable components.

The fixed basic remuneration includes the fixed basic annual salary, fringe benefits, and a defined contribution or defined benefit pension plan. Further details about the defined benefit pension plans can be found in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (10) Provisions for pensions".

The variable components include both the short-term incentive (STI) and the long-term incentive (LTI). The STI comprises a performance-based bonus with a one-year assessment period. This is based on the STRATEC Group achieving a specified level of consolidated EBITDA. Conversely, the LTI includes remuneration dependent on the achievement of targets set over a four-year period (MTR), as well as long-term share price-based remuneration (LSR), which involves the granting of stock options or stock appreciation rights. The exercising of stock options and stock appreciation rights is dependent, among other factors, on the achievement of performance targets determined in the vesting period. Further information can be found in Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (9) Equity - Stock option programs" and Section "C. NOTES TO THE CONSOLIDATED BALANCE SHEET (14) Other liabilities - Stock appreciation rights".

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Furthermore, the Supervisory Board may grant a special payment (appropriateness bonus) each year in recognition of exceptional performance. No such special remuneration is foreseen in the updated version of the remuneration system applicable since June 27, 2025.

The members of the Board of Management received total remuneration pursuant to § 314 No. 6 of the German Commercial Code (HGB) amounting to € 2,470k for their activity on the Board of Management in the 2025 financial year (previous year: € 3,612k). This total includes the granting of 41,000 stock appreciation rights (previous year: 40,340) with a fair value on the grant date of € 453k (previous year: € 532k). Former members of the Board of Management did not receive any overall remuneration in the 2025 financial year (previous year: € 1,683k). The deficit for defined benefit plans towards former members of the Board of Management amounts to € 95k (previous year: € 199k).

The total amount of remuneration granted to members of the Board of Management in the 2025 financial year amounts to € 2,402k (previous year: € 4,262k) and is structured as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Short-term benefits | 1,696 | 1,995 |
| Post-employment benefits | 285 | 287 |
| Employment termination benefits | 0 | 1,683 |
| Other long-term benefits | 430 | 372 |
| Share-based remuneration | -9 | -75 |
| Total | 2,402 | 4,262 |

As of December 31, 2025, outstanding balances owed to members of the Board of Management comprised profit participation obligations of € 1,798k (previous year: € 1,855k) and pension obligations of € 3,139k (previous year: € 3,234k). In the 2024 financial year, outstanding balances also included an amount of € 484k for a post-contractual non-compete obligation. This was disbursed in the 2025 financial year.

Oliver Albrecht was seconded to STRATEC SE by ATREUS Interim Management GmbH until November 6, 2025. For this, ATREUS Interim Management GmbH received remuneration of € 577k (previous year: € 374k from July 4, 2024). As of December 31, 2025, no trade payables were due to ATREUS Interim Management GmbH in this respect (previous year: € 152k).

The Supervisory Board of STRATEC SE comprises the following individuals:

Prof. Dr. Georg Heni,
Auditor, Tax Advisor, Graduate in Business Administration, Self-Employed
(Member and Chair of Supervisory Board since May 20, 2022)
Dr. Frank Hiller,
Management Consultant, Investor, Self-Employed
(Supervisory Board member since May 29, 2019; Deputy Chair of Supervisory Board since November 26, 2020)
Dr. Rolf Vornhagen,
Biologist
(Supervisory Board member since July 21, 2020)
Dr. Patricia Geller,
Member of the Management Board of Limbach Gruppe SE, Heidelberg, Germany
(Supervisory Board member since June 10, 2022)
Ralf Leistner,
Software Engineer
(Supervisory Board member since August 21, 2025)

The Supervisory Board member Prof. Dr. Georg Heni holds the following further memberships of other supervisory boards and supervisory bodies as defined in § 125 (1) Sentence 5 of the German Stock Corporation Act (AktG):

Baader Bank AG, Unterschleissheim, Germany
IWL AG, Ulm, Germany
Wölfl Holding GmbH, Höchberg, Germany
Theben AG, Haigerloch, Germany

The Supervisory Board member Dr. Frank Hiller holds the following further membership of other supervisory boards and supervisory bodies as defined in § 125 (1) Sentence 5 of the German Stock Corporation Act (AktG):

Muhr & Bender KG, Attendorn, Germany

The Supervisory Board members Dr. Rolf Vornhagen, Dr. med. Patricia Geller, and Ralf Leistner do not hold positions on any other supervisory boards or supervisory bodies as defined in § 125 (1) Sentence 5 of the German Stock Corporation Act (AktG).

The permanent Audit Committee of STRATEC SE established by the Supervisory Board comprises the following members:

Dr. Frank Hiller (Member since January 28, 2021, Chair since May 17, 2024)
Prof. Dr. Georg Heni (Member since June 21, 2022)
Dr. Patricia Geller (Member since May 17, 2024)

The permanent Remuneration Committee of STRATEC SE established by the Supervisory Board comprises the following members:

Prof. Dr. Georg Heni (Member and Chair since December 18, 2023)
Dr. Frank Hiller (Member since December 18, 2023)
Dr. Patricia Geller (Member since December 18, 2023)

The Supervisory Board members received total remuneration pursuant to § 314 No. 6 of the German Commercial Code (HGB) amounting to € 295k in the 2025 financial year for their activities on the Supervisory Board, the Audit Committee, and the Remuneration Committee (previous year: € 279k). In this context, total remuneration corresponds to the expenses (here: short-term benefits) due to the Supervisory Board members.

In addition to this total remuneration, each member of the Supervisory Board also has his or her expenses reimbursed and benefits from a pecuniary damage liability insurance policy taken out at the company's expense at suitable terms customary to the market.

As of December 31, 2025, outstanding balances owed to members of the Supervisory Board amounted to € 300k and related to their activities in the Supervisory Board, the Audit Committee, the Remuneration Committee, and the reimbursement of their expenses (previous year: € 279k).

Transactions with related parties

In the context of an employment relationship, STRATEC procured services of € 192k from a close family relation of a member of the Board of Management in the 2025 financial year (previous year: € 199k). As of December 31, 2025, balances of € 49k were outstanding in connection with the employment relationship (previous year: € 36k).

Contractual obligations not recognized in the balance sheet

The unrecognized contractual obligations mainly involve master agreements with suppliers.

The unrecognized contractual obligations mature as follows:

| | 2025
€ 000s | 2024
€ 000s |
| --- | --- | --- |
| Due within one year | 69,199 | 64,259 |
| Due in between one and five years | 19,975 | 32,709 |
| Due in more than five years | 0 | 0 |
| Total | 89,174 | 96,968 |

As of the balance sheet date, unrecognized contractual obligations involving obligations for orders placed amounted to € 88,741k (previous year: € 90,056k).

Of unrecognized contractual obligations, € 299k relates to property, plant and equipment (previous year: € 438k) and € 134k to intangible assets (previous year: € 474k).

Contingent assets and liabilities

As in the previous year, STRATEC has no contingent assets or liabilities.

213

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Disclosures pursuant to § 160 (1) No. 8 AktG at STRATEC SE

STRATEC SE received the following voting right notifications from shareholders who hold 3% of the voting rights or who exceeded, fell short of, or reached the 3% threshold:

Notifying party	Date on which threshold was met	Share of voting rights		Attributable voting right share of at least 3%
		in%	absolute
Herdor GmbH & Co. KG, Unterschleißheim, Germany	04.27.2014	25.40	2,990,000	Tanja van Dinter, Bettina Siegle, and Ralf Leistner
Herdor Beteiligungs GmbH, Unterschleißheim, Germany	04.27.2014	25.40	2,990,000	Herdor GmbH & Co. KG, Tanja van Dinter, Bettina Siegle, and Ralf Leistner
Hermann Leistner, Germany	04.27.2014	25.79	3,035,456	Herdor GmbH & Co. KG, Herdor Beteiligungs GmbH, Tanja van Dinter, Bettina Siegle, and Ralf Leistner
Doris Leistner, Germany	04.27.2014	25.74	3,030,235	Herdor GmbH & Co. KG, Herdor Beteiligungs GmbH, Tanja van Dinter, Bettina Siegle, and Ralf Leistner
Tanja van Dinter, Germany	04.27.2014	29.53	3,476,286	Herdor GmbH & Co. KG, Bettina Siegle, and Ralf Leistner
Bettina Siegle, Germany	04.27.2014	29.68	3,493,954	Herdor GmbH & Co. KG, Tanja van Dinter, and Ralf Leistner
Ralf Leistner, Germany	04.27.2014	29.73	3,499,343	Herdor GmbH & Co. KG, Tanja van Dinter, and Bettina Siegle
Juno Investment Partners B.V., Den Haag, Netherlands	05.20.2020	3.017	362,998
Brown Capital Management, LLC, Baltimore, USA	02.05.2021	5.01	605,802
Invesco Ltd., Hamilton, Bermuda	01.22.2025	1.49	180,571
AIM International Mutual Funds (Invesco International Mutual Funds), Wilmington, Delaware, USA	01.22.2025	1.48	179,785
JPMorgan Chase & Co., Wilmington, Delaware, USA	01.22.2025	5.12	622,347	J.P. Morgan Securities plc
JPMorgan Chase & Co., Wilmington, Delaware, USA	01.24.2025	4.99	606,534	J.P. Morgan Securities plc
JPMorgan Chase & Co., Wilmington, Delaware, USA	01.28.2025	3.96	481,428
Union Investment Privatfonds GmbH, Frankfurt am Main, Germany	01.28.2025	5.84	710,000
JPMorgan Chase & Co., Wilmington, Delaware, USA	03.03.2025	3.53	429,051	J.P. Morgan Securities plc
Union Investment Privatfonds GmbH, Frankfurt am Main, Germany	03.27.2025	3.82	464,951
JPMorgan Chase & Co., Wilmington, Delaware, USA	07.08.2025	0.92	111,923
Union Investment Privatfonds GmbH, Frankfurt am Main, Germany	02.13.2026	2.81	341,283
Morgan Stanley, Wilmington, Delaware, USA¹	02.13.2026	3.43	416,944	Morgan Stanley & Co. LLC
Aalap Mahadevia, USA	02.13.2026	3.41	414,732	Briarwood Capital Partners LP
Morgan Stanley, Wilmington, Delaware, USA¹	03.04.2026	5.09	619,375	Morgan Stanley & Co. LLC
Aalap Mahadevia, USA	03.04.2026	5.09	618,373	Briarwood Capital Partners LP

¹ The notification was triggered by the acquisition of client securities in which Morgan Stanley & Co. LLC holds utilization rights.

Information about voting right notifications can also be found in the Investors section of the company's website at www.stratec.com.

215

Events after the balance sheet date

On February 20, 2026, the US Supreme Court ruled that the tariffs imposed by the US government on the basis of the International Emergency Economic Powers Act (IEEPA) were unlawful, as the IEEPA did not provide an adequate legal basis for raising such tariffs. STRATEC is continuing to closely monitor further legal and political developments. Given continued substantial uncertainties concerning the definitive outcome of court proceedings, potential legislative measures, and potential impacts on supply chains, it is currently not possible to provide any reliable quantification of the financial implications.

On February 28, 2026, a military escalation broke out between the US, Israel, and Iran. STRATEC is currently reviewing the potential impacts on supply chains, energy prices, and existing business relationships in the affected region. Upon the preparation of these consolidated financial statements, it is not yet possible to provide any reliable estimation of the financial implications for the asset, financial, and earnings position of the STRATEC Group.

Disclosures pursuant to § 313 (2) No. 8 HGB

STRATEC SE is the entity that prepares the consolidated financial statements for both the largest and the smallest scope of consolidation within its Group structure.

Declaration in Accordance with the German Corporate Governance Code

The declaration in respect of the German Corporate Governance Code ("Declaration of Compliance") required by § 161 of the German Stock Corporation Act (AktG) has been submitted by the Board of Management and Supervisory Board of STRATEC SE and made permanently available to shareholders in the Investors section of the company's homepage (www.stratec.com).

Birkenfeld, April 23, 2026

STRATEC SE

The Board of Management

Marcus Wolfinger

Dr. Claus Vielsack

Dr. Georg Bauer

Tanja Bücherl

RESPONSIBILITY STATEMENT

To the best of our knowledge, and in accordance with the applicable reporting principles for financial reporting, the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group.

Birkenfeld, April 23, 2026

STRATEC SE

The Board of Management

Marcus Wolfinger

Dr. Claus Vielsack

Dr. Georg Bauer

Tanja Bücherl

217

INDEPENDENT AUDITOR'S REPORT

To STRATEC SE, Birkenfeld

Report on the Audit of the Consolidated Financial Statements and the Group Management Report

Audit Opinions

We have audited the consolidated financial statements of STRATEC SE, Birkenfeld, and its subsidiaries (the Group), which comprise the consolidated statement of financial position as at 31 December 2025, and the consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the financial year from 1 January to 31 December 2025 and notes to the consolidated financial statements, including material accounting policy information. In addition, we have audited the group management report of STRATEC SE, for the financial year from 1 January to 31 December 2025. In accordance with the German legal requirements, we have not audited the content of the non-financial statement to comply with §§ [Articles] 315b to 315c HGB [Handelsgesetzbuch: German Commercial Code].

In our opinion, on the basis of the knowledge obtained in the audit,

the accompanying consolidated financial statements comply, in all material respects, with the IFRS Accounting Standards issued by the International Accounting Standards Board (IASB) (the IFRS Accounting Standards) as adopted by the EU and the additional requirements of German commercial law pursuant to § 315e Abs. [paragraph] I HGB and, in compliance with these requirements, give a true and fair view of the assets, liabilities, and financial position of the Group as at 31 December 2025, and of its financial performance for the financial year from 1 January to 31 December 2025 and
the accompanying group management report as a whole provides an appropriate view of the Group's position. In all material respects, this group management report is consistent with the consolidated financial statements, complies with German legal requirements and appropriately presents the opportunities and risks of future development. Our audit opinion on the group management report does not cover the content of the non-financial statement referred to above.

Pursuant to § 322 Abs. 3 Satz [sentence] I HGB, we declare that our audit has not led to any reservations relating to the legal compliance of the consolidated financial statements and of the group management report.

Basis for the Audit Opinions

We conducted our audit of the consolidated financial statements and of the group management report in accordance with § 317 HGB and the EU Audit Regulation (No. 537/2014, referred to subsequently as "EU Audit Regulation") in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer [Institute of Public Auditors in Germany] (IDW). Our responsibilities under those requirements and principles are further described in the "Auditor's Responsibilities for the Audit of the Consolidated Financial Statements and of the Group Management Report" section of our auditor's report. We are independent of the group entities in accordance with the requirements of European law and German commercial and professional law, and we have fulfilled our other German professional responsibilities in accordance with these requirements. In addition, in accordance with Article 10 (2) point (f) of the EU Audit Regulation, we declare that we have not provided non-audit services prohibited under Article 5 (1) of the EU Audit Regulation. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions on the consolidated financial statements and on the group management report.

INDEPENDENT AUDITOR'S REPORT

Key Audit Matters in the Audit of the Consolidated Financial Statements

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements for the financial year from 1 January to 31 December 2025. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our audit opinion thereon; we do not provide a separate audit opinion on these matters.

In our view, the matters of most significance in our audit were as follows:

Recoverability of goodwill
Accounting for development collaboration agreements

Our presentation of these key audit matters has been structured in each case as follows:

Matter and issue
Audit approach and findings
Reference to further information

Hereinafter we present the key audit matters:

Recoverability of goodwill
In the Company's consolidated financial statements goodwill amounting in total to € 49.9 million (21.0% of equity) is reported. Goodwill is tested for impairment by the Company once a year or when there are indications of impairment to determine any possible need for write-downs. The impairment test is carried out at the level of the cash-generating units to which the relevant goodwill is allocated. The carrying amount of the relevant cash-generating units, including goodwill, is compared with the corresponding recoverable amount in the context of the impairment test. The recoverable amount is generally determined using the value in use. The present value of the future cash flows from the respective cash-generating units normally serves as the basis of valuation. Present values are calculated using discounted cash flow models. For this purpose, the adopted medium-term business plan of the Group forms the starting point which is extrapolated based on assumptions about long-term rates of growth. Expectations relating to future market developments and assumptions about the development of macroeconomic factors are also taken into account.

The discount rate used is the weighted average cost of capital for the respective cash-generating units. The impairment test determined that no write-downs were necessary.

The outcome of this valuation is dependent to a large extent on the estimates made by the executive directors with respect to the future cash inflows from the respective cash-generating units, the discount rate used, the rate of growth and other assumptions, and is therefore subject to considerable uncertainty. Against this background and due to the complex nature of the valuation, this matter was of particular significance in the context of our audit.

As part of our audit, we assessed the methodology used for the purposes of performing the impairment test, among other things. After matching the future cash inflows used for the calculation against the adopted medium-term business plan of the Group, we assessed the appropriateness of the calculation, in particular by reconciling it with general and sector-specific market expectations. In addition, we assessed the appropriate consideration of the costs of Group functions. In the knowledge that even relatively small changes in the discount rate applied can have a material impact on the value of the entity calculated in this way, we focused our testing in particular on the parameters used to determine the discount rate applied and assessed the calculation model. In order to reflect the uncertainty inherent in the projections, we evaluated the sensitivity analyses performed by the Company. Taking into account the information available, we determined that the carrying amounts of the cash-generating units, including the allocated good-will, were covered by the discounted future cash flows.

Overall, the valuation parameters and assumptions used by the executive directors are transparent and are also within the ranges considered by us to be reasonable.

The Company's disclosures on goodwill are contained in section "B. Accounting Policies Applied/Goodwill and Other Intangible Assets and/or Impairment tests" of the notes to the consolidated financial statements.

218

219

2. Accounting for development collaboration agreements

STRATEC SE enters into development collaboration agreements with its customers. These agreements are primarily aimed at developing fully automated analysis systems for customers in the diagnostics and biotechnology sectors. Under these contracts, STRATEC SE undertakes to fulfill various performance obligations. Based on these performance obligations, STRATEC SE recognizes contract assets totaling € 29.6 million and contract liabilities totaling € 6.3 million in the consolidated financial statements as of December 31, 2025. Furthermore, in fiscal year 2025, the Group generated revenue from development and services in the amount of € 58.9 million.

The accounting treatment of development collaboration agreements is governed by the provisions of IFRS 15, "Revenue from Contracts with Customers". In this context, the contract and the performance obligations agreed upon therein must be identified. In addition, the transaction price must be determined and allocated to the individual performance obligations. Furthermore, upon conclusion of the contract, it must be determined whether the performance will be fulfilled over time or at a specific point in time. Revenue is recognized, among other things, over time if an asset is created that has no alternative uses for STRATEC SE and there is a legal right to payment for services already rendered.

When recognizing revenue from development services over time, revenue is recognized based on the percentage of completion, which is calculated as the ratio of actual contract costs incurred to estimated total costs. Given the complexity of production processes, revenue recognition over time requires, in particular, an effective internal budgeting and reporting system – including on-going project costing – as well as a functional internal control system. Against this background, the proper application of the accounting standard for revenue recognition is considered complex and is based in part on estimates and assumptions made by the executive directors. Therefore, this matter was of particular significance for our audit.

Recognizing that, due to the complexity of the matter and the judgments and assumptions involved, there is an increased risk of misstatements in the financial statements, we began our audit by assessing the processes and controls established by the Group, including the IT systems used to recognize revenue from development and services.

In addition, we analyzed the significant development contracts. In doing so, we specifically identified the performance obligations agreed upon in the contracts and assessed the transaction price. We also assessed whether the individual performance obligations are to be fulfilled over time or at a specific point in time. In our audit of the determination of production costs, we first assessed the design, implementation, and effectiveness of internal controls, including the functionality of IT-based controls. Furthermore, as part of substantive audit procedures, we obtained evidence (in particular customer contracts, invoices, and payment receipts) regarding the existence of revenue from development and services to assess whether the recognized revenue was based on a corresponding business transaction. Furthermore, as part of substantive audit procedures, we assessed the derivation of production costs from financial accounting. In addition, we assessed the project cost estimates underlying the customer-specific contracts as well as the determination of work progress.

We were able to satisfy ourselves that the approach to revenue recognition and the recognition of contract assets and contract liabilities is appropriate for the proper accounting treatment of development collaboration contracts.

The Company's disclosures on development collaboration agreements are contained in the sections "B. Accounting Policies Applied/Recognition of Sales, Cost of Sales, Research and Development Expenses" and "C. Notes to the Consolidated Balance Sheet/Contract Assets and Contract Liabilities" of the notes to the consolidated financial statements.

INDEPENDENT AUDITOR'S REPORT

Other Information

The executive directors are responsible for the other information. The other information comprises the non-financial statement to comply with §§ 315b to 315c HGB as an unaudited part of the group management report.

The other information comprises further

the statement on corporate governance pursuant to § 289f HGB and § 315d HGB
all remaining parts of the annual report—excluding cross-references to external information—with the exception of the audited consolidated financial statements, the audited group management report and our auditor's report

Our audit opinions on the consolidated financial statements and on the group management report do not cover the other information, and consequently we do not express an audit opinion or any other form of assurance conclusion thereon.

In connection with our audit, our responsibility is to read the other information mentioned above and, in so doing, to consider whether the other information

is materially inconsistent with the consolidated financial statements, with the group management report disclosures audited in terms of content or with our knowledge obtained in the audit, or
otherwise appears to be materially misstated.

Responsibilities of the Executive Directors and the Supervisory Board for the Consolidated Financial Statements and the Group Management Report

The executive directors are responsible for the preparation of the consolidated financial statements that comply, in all material respects, with IFRS Accounting Standards as adopted by the EU and the additional requirements of German commercial law pursuant to § 315e Abs. 1 HGB, and that the consolidated financial statements, in compliance with these requirements, give a true and fair view of the assets, liabilities, financial position and financial performance of the Group. In addition, the executive directors are responsible for such internal control as they have determined necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud (i.e., fraudulent financial reporting and misappropriation of assets) or error.

In preparing the consolidated financial statements, the executive directors are responsible for assessing the Group's ability to continue as a going concern. They also have the responsibility for disclosing, as applicable, matters related to going concern. In addition, they are responsible for financial reporting based on the going concern basis of accounting unless there is an intention to liquidate the Group or to cease operations, or there is no realistic alternative but to do so.

Furthermore, the executive directors are responsible for the preparation of the group management report that, as a whole, provides an appropriate view of the Group's position and is, in all material respects, consistent with the consolidated financial statements, complies with German legal requirements, and appropriately presents the opportunities and risks of future development. In addition, the executive directors are responsible for such arrangements and measures (systems) as they have considered necessary to enable the preparation of a group management report that is in accordance with the applicable German legal requirements, and to be able to provide sufficient appropriate evidence for the assertions in the group management report.

The supervisory board is responsible for overseeing the Group's financial reporting process for the preparation of the consolidated financial statements and of the group management report.

Auditor's Responsibilities for the Audit of the Consolidated Financial Statements and of the Group Management Report

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and whether the group management report as a whole provides an appropriate view of the Group's position and, in all material respects, is consistent with the consolidated financial statements and the knowledge obtained in the audit, complies with the German legal requirements and appropriately presents the opportunities and risks of future development, as well as to issue an auditor's report that includes our audit opinions on the consolidated financial statements and on the group management report.

221

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with § 317 HGB and the EU Audit Regulation and in compliance with German Generally Accepted Standards for Financial Statement Audits promulgated by the Institut der Wirtschaftsprüfer (IDW) will always detect a material misstatement. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements and this group management report.

We exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the consolidated financial statements and of the group management report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our audit opinions. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls.
Obtain an understanding of internal control relevant to the audit of the consolidated financial statements and of arrangements and measures (systems) relevant to the audit of the group management report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an audit opinion on the effectiveness of the internal control and these arrangements and measures (systems), respectively.
Evaluate the appropriateness of accounting policies used by the executive directors and the reasonableness of estimates made by the executive directors and related disclosures.
Conclude on the appropriateness of the executive directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in the auditor's report to the related disclosures in the consolidated financial statements and in the group management report or, if such disclosures are inadequate, to modify our respective audit opinions.

Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to be able to continue as a going concern.

Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements present the underlying transactions and events in a manner that the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and financial performance of the Group in compliance with IFRS Accounting Standards as adopted by the EU and the additional requirements of German commercial law pursuant to § 315e Abs. 1 HGB.
Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial information of the entities or business units within the Group as a basis for forming audit opinions on the consolidated financial statements and on the group management report. We are responsible for the direction, supervision and review of the audit work performed for purposes of the group audit. We remain solely responsible for our audit opinions.
Evaluate the consistency of the group management report with the consolidated financial statements, its conformity with German law, and the view of the Group's position it provides.
Perform audit procedures on the prospective information presented by the executive directors in the group management report. On the basis of sufficient appropriate audit evidence we evaluate, in particular, the significant assumptions used by the executive directors as a basis for the prospective information, and evaluate the proper derivation of the prospective information from these assumptions. We do not express a separate audit opinion on the prospective information and on the assumptions used as a basis. There is a substantial unavoidable risk that future events will differ materially from the prospective information.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

INDEPENDENT AUDITOR'S REPORT

We also provide those charged with governance with a statement that we have complied with the relevant independence requirements, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter.

Other Legal and Regulatory Requirements

Report on the Assurance on the Electronic Rendering of the Consolidated Financial Statements and the Group Management Report Prepared for Publication Purposes in Accordance with § 317 Abs. 3a HGB

Assurance Opinion

We have performed assurance work in accordance with § 317 Abs. 3a HGB to obtain reasonable assurance as to whether the rendering of the consolidated financial statements and the group management report (hereinafter the "ESEF documents") contained in the electronic file 529900ZZJWANAFSPGV30-2025-12-31-1-de.xbri and prepared for publication purposes complies in all material respects with the requirements of § 328 Abs. 1 HGB for the electronic reporting format ("ESEF format"). In accordance with German legal requirements, this assurance work extends only to the conversion of the information contained in the consolidated financial statements and the group management report into the ESEF format and therefore relates neither to the information contained within these renderings nor to any other information contained in the electronic file identified above.

In our opinion, the rendering of the consolidated financial statements and the group management report contained in the electronic file identified above and prepared for publication purposes complies in all material respects with the requirements of § 328 Abs. 1

HGB for the electronic reporting format. Beyond this assurance opinion and our audit opinion on the accompanying consolidated financial statements and the accompanying group management report for the financial year from 1 January to 31 December 2025 contained in the "Report on the Audit of the Consolidated Financial Statements and on the Group Management Report" above, we do not express any assurance opinion on the information contained within these renderings or on the other information contained in the electronic file identified above.

Basis for the Assurance Opinion

We conducted our assurance work on the rendering of the consolidated financial statements and the group management report contained in the electronic file identified above in accordance with § 317 Abs. 3a HGB and the IDW Assurance Standard: Assurance Work on the Electronic Rendering of Financial Statements and Management Reports, Prepared for Publication Purposes in Accordance with § 317 Abs. 3a HGB (IDW AsS 410 (06.2022)) and the International Standard on Assurance Engagements 3000 (Revised). Our responsibility in accordance therewith is further described in the "Group Auditor's Responsibilities for the Assurance Work on the ESEF Documents" section. Our audit firm applies the IDW Standard on Quality Management: Requirements for Quality Management in the Audit Firm (IDW QMS I (09.2022)).

Responsibilities of the Executive Directors and the Supervisory Board for the ESEF Documents

The executive directors of the Company are responsible for the preparation of the ESEF documents including the electronic rendering of the consolidated financial statements and the group management report in accordance with § 328 Abs. 1 Satz 4 Nr. [number] 1 HGB and for the tagging of the consolidated financial statements in accordance with § 328 Abs. 1 Satz 4 Nr. 2 HGB.

In addition, the executive directors of the Company are responsible for such internal control as they have considered necessary to enable the preparation of ESEF documents that are free from material noncompliance with the requirements of § 328 Abs. 1 HGB for the electronic reporting format, whether due to fraud or error.

The supervisory board is responsible for overseeing the process for preparing the ESEF documents as part of the financial reporting process.

223

Group Auditor's Responsibilities for the Assurance Work on the ESEF Documents

Our objective is to obtain reasonable assurance about whether the ESEF documents are free from material non-compliance with the requirements of § 328 Abs. 1 HGB, whether due to fraud or error. We exercise professional judgment and maintain professional skepticism throughout the assurance work. We also:

Identify and assess the risks of material non-compliance with the requirements of § 328 Abs. 1 HGB, whether due to fraud or error, design and perform assurance procedures responsive to those risks, and obtain assurance evidence that is sufficient and appropriate to provide a basis for our assurance opinion.
Obtain an understanding of internal control relevant to the assurance work on the ESEF documents in order to design assurance procedures that are appropriate in the circumstances, but not for the purpose of expressing an assurance opinion on the effectiveness of these controls.
Evaluate the technical validity of the ESEF documents, i.e., whether the electronic file containing the ESEF documents meets the requirements of the Delegated Regulation (EU) 2019/815 in the version in force at the date of the consolidated financial statements on the technical specification for this electronic file.
Evaluate whether the ESEF documents provide an XHTML rendering with content equivalent to the audited consolidated financial statements and to the audited group management report.
Evaluate whether the tagging of the ESEF documents with Inline XBRL technology (iXBRL) in accordance with the requirements of Articles 4 and 6 of the Delegated Regulation (EU) 2019/815, in the version in force at the date of the consolidated financial statements, enables an appropriate and complete machine-readable XBRL copy of the XHTML rendering.

Further Information pursuant to Article 10 of the EU Audit Regulation

We were elected as group auditor by the annual general meeting on 27 June 2025. We were engaged by the Supervisory Board on 17 December 2025. We have been the group auditor of the STRATEC SE, Birkenfeld, without interruption since the financial year 2024.

We declare that the audit opinions expressed in this auditor's report are consistent with the additional report to the audit committee pursuant to Article 11 of the EU Audit Regulation (long-form audit report).

Reference to an Other Matter – Use of the Auditor's Report

Our auditor's report must always be read together with the audited consolidated financial statements and the audited group management report as well as the assured ESEF documents. The consolidated financial statements and the group management report converted to the ESEF format – including the versions to be filed in the company register – are merely electronic renderings of the audited consolidated financial statements and the audited group management report and do not take their place. In particular, the "Report on the Assurance on the Electronic Rendering of the Consolidated Financial Statements and the Group Management Report Prepared for Publication Purposes in Accordance with § 317 Abs. 3a HGB" and our assurance opinion contained therein are to be used solely together with the assured ESEF documents made available in electronic form.

German Public Auditor Responsible for the Engagement

The German Public Auditor responsible for the engagement is Christiane Lawrenz.

Frankfurt am Main, April 23, 2026

PricewaterhouseCoopers GmbH
Wirtschaftsprüfungsgesellschaft

Sylvia Weidinger
Wirtschaftsprüferin
(German Public Auditor)

Christiane Lawrenz
Wirtschaftsprüferin
(German Public Auditor)

ASSURANCE REPORT OF THE INDEPENDENT GERMAN PUBLIC AUDITOR

ON A LIMITED ASSURANCE ENGAGEMENT IN RELATION TO THE GROUP SUSTAINABILITY STATEMENT

To STRATEC SE, Birkenfeld

Assurance Conclusion

We have conducted a limited assurance engagement on the group sustainability statement of STRATEC SE, Birkenfeld, (hereinafter the „Company“) included in section "Non-financial Group Declaration" of the group management report for the financial year from 1 January to 31 December 2025 (hereinafter the "Group Sustainability Statement"). The Group Sustainability Statement has been prepared to fulfil the requirements of Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 (Corporate Sustainability Reporting Directive, CSRD) and Article 8 of Regulation (EU) 2020/852 as well as §§ [Articles] 315b to 315c HGB [Handelsgesetzbuch: German Commercial Code] to prepare a group non-financial statement.

Based on the procedures performed and the evidence obtained, nothing has come to our attention that causes us to believe that the accompanying Group Sustainability Statement is not prepared, in all material respects, in accordance with the requirements of the CSRD and Article 8 of Regulation (EU) 2020/852, § 315c in conjunction with §§ 289c to 289e HGB to prepare a group non-financial statement as well as with the supplementary criteria presented by the executive directors of the Company. This assurance conclusion includes that no matters have come to our attention that cause us to believe:

that the accompanying Group Sustainability Statement does not comply, in all material respects, with the European Sustainability Reporting Standards (ESRS), including that the process carried out by the Company to identify the information to be included in the Group Sustainability Statement (hereinafter the "materiality assessment") is not, in all material respects, in accordance with the description set out in section "ESRS 2 – General Disclosures" of the Group Sustainability Statement, or
that the disclosures set out in section "Reporting pursuant to EU Taxonomy Regulation" of the Group Sustainability Statement do not comply, in all material respects, with Article 8 of Regulation (EU) 2020/852.

Basis for the Assurance Conclusion

We conducted our limited assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised): Assurance Engagements Other Than Audits or Reviews of Historical Financial Information, issued by the International Auditing and Assurance Standards Board (IAASB).

The procedures in a limited assurance engagement vary in nature and timing from, and are less in extent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed.

Our responsibilities under ISAE 3000 (Revised) are further described in the "German Public Auditor's Responsibilities for the Assurance Engagement on the Group Sustainability Statement" section.

We are independent of the Company in accordance with the requirements of European law and German commercial and professional law, and we have fulfilled our other German professional responsibilities in accordance with these requirements. Our audit firm has complied with the quality management system requirements of the IDW Standard on Quality Management: Requirements for Quality Management in the Audit Firm (IDW QMS I (09.2022)) issued by the Institut der Wirtschaftsprüfer (Institute of Public Auditors in Germany; IDW). We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our assurance conclusion.

Responsibility of the Executive Directors and the Supervisory Board for the Group Sustainability Statement

The executive directors are responsible for the preparation of the Group Sustainability Statement in accordance with the requirements of the CSRD and the relevant German legal and other European regulations as well as with the supplementary criteria presented by the executive directors of the Company. They are also responsible for the design, implementation and maintenance of such internal controls that they have considered necessary to enable the preparation of a Group Sustainability Statement in accordance with these regulations that is free from material misstatement, whether due to fraud (i.e., manipulation of the Group Sustainability Statement) or error.

This responsibility of the executive directors includes establishing and maintaining the materiality assessment process, selecting and applying appropriate reporting policies for preparing the Group Sustainability Statement, as well as making assumptions and estimates and ascertaining forward-looking information for individual sustainability-related disclosures.

The supervisory board is responsible for overseeing the process for the preparation of the Group Sustainability Statement.

Inherent Limitations in the Preparation of the Group Sustainability Statement

The CSRD and the relevant German statutory and other European regulations contain wording and terms that are still subject to considerable interpretation uncertainties and for which no authoritative, comprehensive interpretations have yet been published. As such wording and terms may be interpreted differently by regulators or courts, the legal conformity of measurements or evaluations of sustainability matters based on these interpretations is uncertain.

These inherent limitations also affect the assurance engagement on the Group Sustainability Statement.

German Public Auditor's Responsibilities for the Assurance Engagement on the Group Sustainability Statement

Our objective is to express a limited assurance conclusion, based on the assurance engagement we have conducted, on whether any matters have come to our attention that cause us to believe that the Group Sustainability Statement has not been prepared, in all material respects, in accordance with the CSRD and the relevant German legal and other European regulations as well as with the supplementary criteria presented by the executive directors of the Company, and to issue an assurance report that includes our assurance conclusion on the Group Sustainability Statement.

As part of a limited assurance engagement in accordance with ISAE 3000 (Revised), we exercise professional judgment and maintain professional skepticism. We also:

obtain an understanding of the process to prepare the Group Sustainability Statement, including the materiality assessment process carried out by the Company to identify the information to be included in the Group Sustainability Statement.

225

ASSURANCE REPORT OF THE INDEPENDENT GERMAN PUBLIC AUDITOR

identify disclosures where a material misstatement due to fraud or error is likely to arise, design and perform procedures to address these disclosures and obtain limited assurance to support the assurance conclusion. The risk of not detecting a material misstatement resulting from fraud is higher than the risk of not detecting a material misstatement resulting from error, as fraud may involve collusion, forgery, intentional omissions, misleading representations, or the override of internal controls. In addition, the risk of not detecting a material misstatement within value chain information from sources not under the control of the company (value chain information) is generally higher than the risk of not detecting a material misstatement of value chain information from sources under the control of the company, as both the executive directors of the Company and we, as assurance practitioners, are ordinarily subject to limitations on direct access to the sources of value chain information.
consider the forward-looking information, including the appropriateness of the underlying assumptions. There is a substantial unavoidable risk that future events will differ materially from the forward-looking information.

Summary of the Procedures Performed by the German Public Auditor

A limited assurance engagement involves the performance of procedures to obtain evidence about the sustainability information. The nature, timing and extent of the selected procedures are subject to our professional judgement.

In conducting our limited assurance engagement, we have, amongst other things:

evaluated the suitability of the criteria as a whole presented by the executive directors in the Group Sustainability Statement.
inquired of the executive directors and relevant employees involved in the preparation of the Group Sustainability Statement about the preparation process, including the materiality assessment process carried out by the company to identify the information to be included in the Group Sustainability Statement, and about the internal controls relating to this process.
evaluated the reporting policies used by the executive directors to prepare the Group Sustainability Statement.
evaluated the reasonableness of the estimates and the related disclosures provided by the executive directors. If, in accordance with the ESRS, the executive directors estimate the value chain information to be reported for a case in which the executive directors are unable to obtain the information from the value chain despite making reasonable efforts, our assurance engagement is limited to evaluating whether the executive directors have undertaken these estimates in accordance with the ESRS and assessing the reasonableness of these estimates, but does not include identifying information in the value chain that the executive directors have been unable to obtain.
performed analytical procedures and made inquiries in relation to selected information in the Group Sustainability Statement.
considered the presentation of the information in the Group Sustainability Statement.
considered the process for identifying taxonomy-eligible and taxonomy-aligned economic activities and the corresponding disclosures in the Group Sustainability Statement.

Restriction of Use

We draw attention to the fact that the assurance engagement was conducted for the Company's purposes and that the report is intended solely to inform the Company about the result of the assurance engagement. Accordingly, the report is not intended to be used by third parties for making (financial) decisions based on it. Our responsibility is solely towards the Company. We do not accept any responsibility, duty of care or liability towards third parties.

Frankfurt am Main, April 23, 2026

PricewaterhouseCoopers GmbH
Wirtschaftsprüfungsgesellschaft

Sylvia Weidinger
Wirtschaftsprüferin
[German public auditor]

Christiane Lawrenz
Wirtschaftsprüferin
[German public auditor]

227

FINANCIAL CALENDAR

| 04
04.28.2026
Annual Financial Report 2025 | 05
05.11.2026
Quarterly Statement Q1|2026 | 06
06.23.2026
Annual General Meeting |
| --- | --- | --- | --- |
| 08
08.14.2026
Half-year Financial Report H1|2026 | 11
11.05.2026
Quarterly Statement 9M|2026 | 11
11.24.2026
German Equity Forum (Analyst conference) |

Subject to amendment

CONTACT

STRATEC SE

Gewerbestr. 37

75217 Birkenfeld

Germany

Phone: +49 7082 7916-0

[email protected]

www.stratec.com

Head of Investor Relations, Sustainability & Corporate Communications

Jan Keppeler

Phone: +49 7082 7916-6515

[email protected]

IMPRINT

Published by
STRATEC SE
Gewerbestr. 37
75217 Birkenfeld
Germany
Phone: +49 7082 7916-0
[email protected]
www.stratec.com

Board of Management
Marcus Wolfinger (Chairman),
Dr. Claus Vielsack, Dr. Georg Bauer and Tanja Bücherl

Chairman of the Supervisory Board
Prof. Dr. Georg Heni

Registration Court
Mannheim HRB 732007

Value Added Tax Identification Number
DE812415108

Editorial Responsibility
STRATEC SE

Concept and Design
STRATEC SE
Bartenbach AG, Mainz, Germany

Illustrations
STRATEC SE is the exclusive holder of all image rights.

Notice
Forward-looking statements involve risks: This annual report contains various statements concerning the future performance of STRATEC. These statements are based on both assumptions and estimates. Although we are convinced that these forward-looking statements are realistic, we can provide no guarantee of this. This is because our assumptions involve risks and uncertainties which could result in a substantial divergence between actual results and those expected. It is not planned to update these forward-looking statements.

This annual report contains various disclosures that from an economic point of view are not required by the relevant accounting standards. These disclosures should be regarded as a supplement, rather than a substitute for the IFRS disclosures.

Apparent discrepancies may arise throughout this annual report on account of mathematical rounding up or down in the course of addition.

This annual report is available in both German and English. Both versions can be downloaded from the company's website at www.stratec.com. In the event of any discrepancies between the two, the German report is the definitive version.

STRATEC SE
Gewerbestr. 37
75217 Birkenfeld
Germany
Phone: +49 7082 7916-0
[email protected]
www.stratec.com

ESRS 2 – General disclosures		Reference in CSRD report
BP-1	General basis for preparation of sustainability statements	ESRS 2 – General disclosures: Section – General basis for preparation of sustainability statements
BP-2	Disclosures in relation to specific circumstances	ESRS 2 – General disclosures: Section – Disclosures in relation to specific circumstances
GOV-1	The role of the administrative, management, and supervisory bodies	ESRS 2 – General disclosures: Section – The role of the administrative, management, and supervisory bodies
GOV-2	Information provided to and sustainability matters addressed by the undertaking’s administrative, management, and supervisory bodies	ESRS 2 – General disclosures: Section – Information provided to and sustainability matters addressed by the undertaking’s administrative, management, and supervisory bodies
GOV-3	Integration of sustainability-related performance in incentive schemes	ESRS 2 – General disclosures: Section – Integration of sustainability-related performance in incentive schemes
GOV-4	Statement on due diligence	ESRS 2 – General disclosures: Section – Statement on due diligence
GOV-5	Risk management and internal controls over sustainability reporting	ESRS 2 – General disclosures: Section – Risk management and internal controls over sustainability reporting
SBM-1	Strategy, business model, and value chain	ESRS 2 – General disclosures: Section – Strategy, business model, and value chain
SBM-2	Interests and views of stakeholders	ESRS 2 – General disclosures: Section – Interests and views of stakeholders
SBM-3	Material, impacts, risks, and opportunities, and their interaction with strategy and business model	ESRS 2 – General disclosures – Section: Material, impacts, risks, and opportunities, and their interaction with strategy and business model
IRO-1	Description of the processes to identify and assess material impacts, risks, and opportunities	ESRS 2 – General disclosures: Section – Description of the processes to identify and assess material impacts, risks, and opportunities
IRO-2	Disclosure requirements in ESRS covered by the undertaking’s sustainability statement	ESRS 2 – General disclosures: Section – Disclosure requirements in ESRS covered by the undertaking’s sustainability statement
ESRS E1 – Climate change		Reference in CSRD report
---	---	---
ESRS 2 GOV-3	Integration of sustainability-related performance in incentive schemes	ESRS E1 – Climate change: Section – Integration of sustainability-related performance in incentive schemes
E1-1	Transition plan for climate change mitigation	ESRS E1 – Climate change: Section – Transition plan for climate change mitigation
ESRS 2 SBM-3	Material impacts, risks, and opportunities, and their interaction with strategy and business model	ESRS E1 – Climate change: Section – Material impacts, risks, and opportunities, and their interaction with strategy and business model
ESRS 2 IRO-1	Description of the processes to identify and assess material climate-related impacts, risks, and opportunities	ESRS E1 – Climate change: Section – Description of the processes to identify and assess material climate-related impacts, risks, and opportunities
E1-2	Policies related to climate change mitigation and adaptation	ESRS E1 – Climate change: Section – Policies related to climate change mitigation and adaptation
E1-3	Actions and resources in relation to climate change policies	ESRS E1 – Climate change: Section – Actions and resources in relation to climate change policies
E1-4	Targets related to climate change mitigation and adaptation	ESRS E1 – Climate change: Section – Targets related to climate change mitigation and adaptation
E1-5	Energy consumption and mix	ESRS E1 – Climate change: Section – Energy consumption and mix
E1-6	Gross Scopes 1, 2, 3, and total GHG emissions	ESRS E1 – Climate change: Section – Gross Scopes 1, 2, 3, and total GHG emissions
E1-7	GHG removals and GHG mitigation projects financed through carbon credits	ESRS E1 – Climate change: Section – Reducing greenhouse gases

AI assistant

STRATEC SE — Annual Report 2025

416_10-k_2026-04-27_a991a6b8-d405-4677-98c4-1902011ba560.pdf

STRUCTURED FOR PROGRESS

MISSION STATEMENT

CONTENTS

STRUCTURED FOR PROGRESS

STRATEC GROUP AT A GLANCE

GROUP KEY FIGURES

41.3%

34.6%

STRATEC SE

STRATEC Biomedical

Diatron MI APAC

STRATEC Switzerland AG

STRATEC Consumables GmbH

LETTER FROM THE BOARD OF MANAGEMENT

REPORT OF THE SUPERVISORY BOARD

Supervision and advice in dialog with the Board of Management

Meetings of the Supervisory Board and its committees

Meeting form and individual meeting attendance by members of the Supervisory Board, the Audit Committee, and the Remuneration Committee

Activities and key focuses of discussion of full Supervisory Board

German Corporate Governance Code

Activities and key focuses in committees

Training and development measures

Review of potential conflicts of interest and independence of Supervisory Board members

Change in composition of Board of Management and Supervisory Board

Audit of annual and consolidated financial statements; audit of non-financial group declaration as of December 31, 2025

Thanks

MICROPILLARS REVOLUTIONIZING DIAGNOSTICS AND ENABLING CELL THERAPY

Micropillars: A Simple Geometry Solving a Complex Problem

FROM DIAGNOSTICS TO CELL THERAPY

INNOVATION IN FOCUS WITH OUR PARTNER BENDBIO

CELL THERAPY

FROM RARE CELLS TO REAL-WORLD IMPACT

TLOOK IT

ANNUAL REPORT

CONTENTS

STRATEC'S SHARE

Review of 2025 on the stock markets

Listing, stock market turnover, and index membership

STRATEC's Annual General Meeting approves all agenda items

Proposed dividend for the 2025 financial year

Shareholder structure remains stable

Further information about STRATEC's share

Key figures for STRATEC's share (status: December 31)

Investor relations

Financial calendar

GROUP MANAGEMENT REPORT

CONTENTS

A. THE STRATEC GROUP

Business model and strategy

Basic features of business model

Partnering Business

Platform development

Core of corporate strategy

Strategic objectives

Production and locations

Supply Chain

Group structure

Management of the STRATEC Group

Market

IVD instrumentation market

IVD market by technologies and application fields

Research and development

B. BUSINESS REPORT

Macroeconomic and sector-specific framework

Macroeconomic framework

Sector-specific framework

Veterinary diagnostics

Life sciences

Business performance

Position

Earnings position

Sales

Gross profit and gross margin

Research and development expenses

Sales-related expenses

General administration expenses

Other operating income and expenses

STRATEC SE Annual Report 2025