M a n a g e m e n t P r e s e n t a t i o n

S e p t e m b e r 7 , 2 0 2 1

Q1 2021/22

2

Q1 2021/22 highlights

― Tridonic was granted the Innovation Award 2021 for the SIDEREA

project by the Federal State of Vorarlberg. Now, the project is nominated

for the Austrian Innovation State Award – the highest Austrian award for

pioneering companies

― Trunking systems for 50 Walmart stores mainly located in Santiago

Chile

― HK International Airport and highway tunnel on Central Kowloon

Route

― With our weather-resistant, robust and versatile product TUBILUX,

Zumtobel provided the ideal solution for the modernisation of the

Schweizer Zucker AG factory in Aarberg

― Improved working environment and energy savings at Swiss

Post thanks to balanced tunableWhite, which was designed for the manual

task of sorting letters, that aims to protect the delicate biorhythm of the

people

― The Zumtobel Group continues to be a member in VBV Austrian

Sustainability Index (VÖNIX) as one out of 19 Austrian listed companies

that are leaders in terms of environmental and social actions.

Q1 2021/22 results

3

• Group revenues increased to EUR 289.3 mn (PY EUR 250.8 mn)

− Lighting Segment revenues at EUR 212.4 mn (plus 12.0%)

− Components Segment EUR 92.2 mn (plus 26.1%)

− Strong revenue contributions especially from UK, France, Austria, and

China

• EBIT nearly tripled to EUR 20.1 mn (PY EUR 7.0 mn)

− Increase in fixed costs was more than offset by the positive

development of revenues as well as the absence of restructuring

expenses

− Gross profit increased to EUR 100.2 mn

− SG&A expenses at EUR 80.2 mn

• Net profit strongly increased to EUR 13.4 mn (PY EUR 3.1 mn)

• Free Cash Flow at EUR –9.1 mn

• Strong balance sheet secures liquidity position

Q1 2021/22 results

Q1 2021/22 financial highlights:

Group revenues, EBIT and net profit all

well above prior year quarter

Scott Sports AG, Switzerland© Faruk Pinjo© Matthias Rhomberg

4

Q 1 r eve n u e s i n c r e a s e d a n d E B I T m o r e t h a n d o u b l e d

L i g h t i n g S e g m e n t – R e v e n u e a n d E B I T d e v e l o p m e n t

Q1 Q2 Q3 Q4

212.4188.1

Q1 Q2 Q3 Q4

L I G H T I N G S E G M E N T

R E V E N U E S E B I T

5.9

16.5

2.2

15.9

8.7

7.5%

3.1%

12.0%

(fx-adj. 11.4%)

Revenues 2020/21

in EUR mn

Revenues 2021/22

in EUR mnEBIT 2020/21

EBIT 2021/22

in EUR mn

EBIT 2020/21

EBIT 2021/22

as a % of revenues

Q1 2021/22 results

4.0%

189.7204.4

Revenues FY 2020/21 EUR 794.1 m (minus 6.1%) EBIT FY 2020/21 EUR 33.2 mn (margin of 4.2%)

8.1%

183.0

1.2%

217.1

5

Reve n u e s s i g n i f i c a n t l y a b ove p r i o r ye a r l eve l a n d E B I T m o r e t h a n d o u b l e d

C o m p o n e n t s S e g m e n t – R e v e n u e a n d E B I T d e v e l o p m e n t

Q1 Q2 Q3 Q4

73.1

92.2

72.6 73.5

83.6

Q1 Q2 Q3 Q4

C O M P O N E N T S S E G M E N T

26.1%

(fx-adj. 26.5%)

R E V E N U E S E B I T

3.8 3.4

6.0

11.7

5.2%

9.3%

Revenues 2020/21

in EUR mn

Revenues 2021/22

in EUR mnEBIT 2020/21

EBIT 2021/22

in EUR mn

EBIT 2020/21

EBIT 2021/22

as a % of revenues

Q1 2021/22 results

8.1%

Revenues FY 2020/21 EUR 302.8 mn (minus 11.3%) EBIT FY 2020/21 EUR 24.9 mn (margin of 8.2%)

4.7%

14.0%

8.6

6

Reve n u e s we l l a b ove , E B I T a l m o s t t r i p l e d c o m p a r e d t o p r i o r ye a r l eve l

Z u m t o b e l G r o u p – R e v e n u e a n d E B I T d e v e l o p m e n t

Q1 Q2 Q3 Q4

250.8264.6

243.7

Q1 Q2 Q3 Q4

Z U M T O B E L G R O U P

15.4%

(fx-adj. 15.1%)

R E V E N U E S E B I T

Revenues 2020/21

in EUR mn

Revenues 2021/22

in EUR mnEBIT 2020/21

EBIT 2021/22

in EUR mn

EBIT 2020/21

EBIT 2021/22

as a % of revenues

7.0

15.9

4.4

16.0

20.1

2.8%

6.9%

Q1 2021/22 results

1.8%5.6%

Revenues FY 2020/21 EUR 1,044.5 mn (minus 7.7%) EBIT FY 2020/21 EUR 43.4 mn (margin of 4.2%)

6.0%

285.3289.3

7

Q 1 2 0 2 1 / 2 2 E B I T n e a r l y t r i p l e d fo l l ow i n g a s t r o n g g r o s s p r o f i t i n c r e a s e

Z u m t o b e l G r o u p – E B I T B r i d g e

Q1 2021/22 results

7.0

20.3

-8.7 -0.6

2.1

EBIT

Q1 2020/21

EBIT

Q1 2021/22

∆ Gross profit

(including development)

OthersSelling & Administration Special effects

[in EUR mn]

Gross Profit increased due to

higher net sales of ~EUR 38.5 mnSelling and Administration

expenses higher above all due to

the absence of short-time work

20.1

8

S t r o n g n e t p r o f i t a t E U R 1 3 . 4 m n

Z u m t o b e l G r o u p – I n c o m e s t a t e m e n t

in EUR mn Q1 2021/22 Q1 2020/21 Change in %

Revenues 289.3 250.8 15.4

Cost of goods sold -189.1 -170.8 10.7

Gross profit (incl. development) 100.2 80.0 25.4

as a % of revenues 34.6 31.9

SG&A expenses -80.2 -70.9 13.1

Special effects 0.0 -2.1

EBIT 20.1 7.0 >100

as a % of revenues 6.9 2.8

Financial results -2.9 -3.0 –4.0

Profit before tax 17.2 4.0 >100

Income taxes -3.8 -0.9 <–100

Net profit for the period 13.4 3.1 >100

Earnings per share (in EUR) 0.31 0.07 >100

Q1 2021/22 results

9

S t r o n g c a s h f l ow f r o m o p e r a t i n g r e s u l t s o f E U R 3 3 . 7 m n

(cumulative figures in EUR mn)

in EUR mn Q1 2021/22 Q1 2020/21

Cash flow from operating results 33.7 23.9

Change in working capital -22.6 -24.5

Change in other operating items -11.7 7.1

Taxes paid/received 0.0 -0.9

Cash flow from operating activities -0.5 5.6

Capital expenditures

on non-current assets-8.9 -8.0

Change in current and

non-current financial assets0.2 0.0

Cash flow from investing activities -8.6 -8.0

Free cash flow -9.1 -2.4

F R E E C A S H F L O W D E V E L O P M E N T

FY 2020/21 FY 2021/22

Q1 H1 Q1-Q3 FY

-9.1

Q1 2021/22 results

Z u m t o b e l G r o u p – C a s h F l o w S t a t e m e n t

35.0

59.8

100.0

-2.4

10

S o l i d b a l a n c e s h e e t : d e b t c ove r a g e r a t i o a t 0 . 8 6

Z u m t o b e l G r o u p – K e y b a l a n c e s h e e t d a t a

Solid liquidity position backed by:

• Consortium credit agreement with a term ending November 2022 and a

max. volume of EUR 200 mn, whereof EUR 15 mn drawn

• Two long-term credit agreements of EUR 40 mn each with the European

Investment Bank (EIB) (bullet repayment in September 2024, respectively

February 2025; both fully drawn)

• Uncommitted lines of credit totalling EUR 62.9 mn

Financial covenants attached to:

• Debt coverage ratio (=net debt/EBITDA) < 3.55

✓ 0.86 as of July 31, 2021

• Equity ratio > 23.5%

✓ 32.8% as of July 31, 2021

→ Covenants tested on Oct 31 as well April 30

in EUR mn July 31, 2021 April 30, 2021

Total assets 993.5 977.7

Net debt 107.9 97.3

Debt coverage ratio 0.86 0.85

Equity 326.2 308.4

Equity ratio in % 32.8 31.5

Gearing in % 33.1 31.6

Investments 8.9 38.1

Working capital 175.6 152.5

As a % of rolling

12 months revenues16.2 14.6

Q1 2021/22 results

11

Q 1 s a l e s s i g n i f i c a n t l y i m p r ove d ve r s u s p r i o r ye a r

Z u m t o b e l G r o u p – S a l e s d e v e l o p m e n t b y Q u a r t e r v s P Y P e r i o d i n %

Q1 2021/22 results

Q3 Q3Q1

-0.5

5.9

Q4 Q3Q2

-0.6

-8.8

Q3 Q2

-13.9

Q1Q4

-12.7

Q1 Q1 Q2 Q3 Q1Q4 Q2 Q3 Q4 Q2 Q4 Q2 Q4

-0.9

-5.0-4.9

9.6

-4.7

-10.1

-7.6

-1.7

Q1

-12.7

-15.4

5.8

2.8

-2.6

-5.3

3.4

1.11.8

Q1

15.4

-7.3

2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 2021/22

12

G r o u p r eve n u e s i n c r e a s e d b y 1 5 . 4 % t o E U R 2 8 9 . 3 m n i n Q 1 2 0 2 1 / 2 2

Z u m t o b e l G r o u p – R e g i o n a l r e v e n u e d i s t r i b u t i o n

Q1 2021/22 results

in EUR mn Q1 2021/22Change in %

nominal FX adjusted

D/A/CH 91.4 4.8 5.7

Northern and Western Europe 72.0 24.8 20.8

Southern and Eastern Europe 81.7 26.9 28.4

Asia & Pacific 32.9 37.1 34.8

Rest of the World 11.3 -35.2 -33.2

Total 289.3 15.4 15.1

13

R e v e n u e i n c r e a s e b y 4 – 7 %

E B I T m a r g i n i n c r e a s e t o 4 – 5 %

K e e p w o r k i n g c a p i t a l b e t w e e n 1 4 – 1 4 . 5 %

(of rolling 12-month revenues)

Z u m t o b e l G r o u p O u t l o o k

Z u m t o b e l c o n f i r m s o u t l o o k

C A P E X s p e n d i n g a t a h e a l t h y l e v e l b e t w e e n E U R 5 0 m n – E U R 5 5 m n

Q1 2021/22 results

14

Join our Capital Markets Day

on October 12, 2021

at the Light Forum in Dornbirn or online.

For further information, please contact the Investor Relations team.

14

Back-up

16

F i n a n c i a l C a l e n d a r

Z u m t o b e l G r o u p

Q1 2021/22 results

October 12, 2021 Capital Markets Day

December 7, 2021 Half-Year Financial Report 2021/22 (1 May 2021 - 31 October 2021)

March 8, 2022 Interim Report Q1-Q3 2021/22 (1 May 2021 - 31 January 2022)

17

Wo r k i n g c a p i t a l o n s t a b l e l eve l

Z u m t o b e l G r o u p – W o r k i n g c a p i t a l

Q1 Q2 Q3 Q4

• Working capital at EUR 175.6 mn

as of 31 July 2021 (30 April 2021:

EUR 152.5 mn)

• In % of rolling 12-month

revenues, working capital at

16.2% (PY: 17.6%)

FY 2019/20 FY 2020/21 FY 2021/22in % of rolling 12-month revenues

15.1%

12.3%

15.0% 15.0%

17.6%

Q1 2021/22 results

17.3%16.3%

14.6%16.2%

18

S u p p l e m e n t d a t a r e g a r d i n g s e g m e n t r e p o r t i n g

Z u m t o b e l G r o u p

Lighting Segment Components Segment Reconciliation Group

in EUR mn Q1 2021/22 Q1 2020/21 Q1 2021/22 Q1 2020/21 Q1 2021/22 Q1 2020/21 Q1 2021/22 Q1 2020/21

Net revenues 212.4 189.7 92.2 73.1 -15.3 -12.0 289.3 250.8

External revenues 212.1 189.5 77.2 61.3 0 0 289.3 250.8

Inter-company revenues 0.3 0.2 14.9 11.8 -15.3 -12.0 0 0

EBIT 15.9 5.9 8.6 3.8 -4.4 -2.7 20.1 7.0

Investments 4.9 4.9 2.9 2.4 1.1 1.3 8.9 8.6

Depreciation -9.0 -10.8 -3.1 -3.8 -1.3 -1.2 -13.4 -15.9

Q1 2021/22 results

19

F i ve - Ye a r O ve r v i e w

Z u m t o b e l G r o u p

in EUR mn 2020/21 2019/20 2018/19 2017/18 2016/17

Revenues 1,044.5 1,131.3 1,162.0 1,196.5 1,303.9

Adjusted EBIT 45.5 53.9 27.6 19.7 72.4

as a % of revenues 4.4 4.8 2.4 1.6 5.6

Net profit/loss for the period 45.6 14.5 -15.2 -46.7 25.2

as a % of revenues 4.4 1.3 -1.3 -3.9 1.9

Total assets 977.7 1,011.7 920.9 986.1 1,019.6

Equity 308.4 280.7 262.8 268.3 334.0

Equity ratio in % 31.5 27.7 28.5 27.2 32.8

Net debt 97.3 165.7 148.7 146.3 91.0

Cash flow from operating results 115.7 101.3 56.8 53.5 114.1

Investments 38.1 57.9 66.2 69.0 45.2

as a % of revenues 3.7 5.1 5.7 5.8 3.5

R&D total 64.8 62.7 66.2 73.4 82.4

as a % of revenues 6.2 5.5 5.7 6.1 6.3

Headcount incl. contract worker

(full-time equivalent)5,813 6,039 5,878 6,224 6,562

Q1 2021/22 results

20

Thank you

Z U M T O B E L G R O U P A G

I n v e s t o r R e l a t i o n s

T e l . : + 4 3 ( 5 5 7 2 ) 5 0 9 - 1 1 2 5

i n v e s t o r r e l a t i o n s @ z u m t o b e l g r o u p . c o m

w w w . z u m t o b e l g r o u p . c o m

21

The facts and information contained herein constitute forward-looking statements as of the date they were made and based upon

assumptions as to future events or circumstances that may not prove to be complete or accurate. By their nature, these statem ents

involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and are difficult to

predict. Therefore, actual outcomes or results may differ materially from what is expressed, implied or forecasted in these s tatements.

Neither Zumtobel Group AG nor any of its directors, officers, employees or advisors nor any other person makes any representa tion or

warranty, expressed or implied, as to the accuracy or completeness of the facts and information contained in this document or the

related oral presentation thereof, including responses to questions following the presentation. Neither Zumtobel Group AG nor any of its

directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arisi ng, directly

or indirectly, from any use of this document, the facts and/or information.

Whilst all reasonable care has been taken to ensure the facts stated herein are accurate and that the assumptions and opinion s

contained herein are fair and reasonable, this document is selective in nature and is intended to provide an introduction to, and

overview of, the business of Zumtobel Group AG as of the date this document was made. Where any information and statistics ar e

quoted from any external source, such information or statistics should not be interpreted as having been adopted or endorsed by

Zumtobel Group AG as being accurate.

D i s c l a i m e r

Q1 2021/22 results